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B-161470 1 (1974-02-04)

handle is hein.gao/gaobabkix0001 and id is 1 raw text is: LJ Notto b relase oue the Genern! 50 ffie eXCGPt O the basis Of Secific approvaq. b~y the Office of CongressionaH Relations, a inecord of whic', Lz * is kept by the Distribution Section, Publications Branch, 0A.16 COMPTROLLER GENERAL OF THE UNITED STATES A __ a WAsHINGTON, D.C. 2040 - - RELEASED 974 B- 1614 70 The H6norable Dante B. Fascell, Chairman Subcommittee on Inter-American Affairs Committee on Foreign Affairs House of Representatives I Dear Mr. Chairman: In your letter of October 9, 1973, you requested that we advise your Subcommittee of the amount of U.S. dollars and local currencies that would be available from the Social Pr es Trust Fund during fiscal year 1974 and to estimate the funds which would be available in fiscal year 1975. In addition, you requested that we verify the commitment of $15 million against the Trust Fund for project preparation and any other commitments for fiscal years 1974 and 1975. We estimate that, net of commitments and other uses, about $54,5 million, consisting of $53 million in local cur- rencies and $1.5 million in U.S. dollars, will be available for use during fiscal year 1974. We estimate also that about $39.8 million, consisting of $37.6 million in local curren- cies and $2.2 million in U.S. dollars, will be available for use during fiscal year 1975. The primary sources of these funds are the liquid assets on hand at June 30, 1973, and the repaid principal and interest on Trust Fund loans and partic- ipations in the Fund for Special Operations loans during fis- cal years 1974 and 1975. As of September 30, 1973, commitments against the Trust Fund included $15 million for project preparation, to be paid in U.S. dollars from a special letter of credit; $4.5 million for the preinveste t fund for Latin American integration; and $6.8 million for technica -as'sistance. In our calculations we considered that all the commit- ments would be paid from Trust Fund resources in fiscal year 1974 and did not include any participations in Fund for Spe- cial Operations loans that had been or would be made after September 30, 1973. More details concerning the amount of Trust Fund resources available for use, the extent of the

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