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AIMD-95-150R 1 (1995-06-15)

handle is hein.gao/gaobackvy0001 and id is 1 raw text is: OStates General Accounting Office Washington, D.C. 20548 Accounting and Information Management Division B-261599 June 15, 1995 The Honorable Don Young Chairman The Honorable George Miller Ranking Minority Member Committee on Resources House of Representatives The Honorable Ken Calvert Chairman The Honorable Neil Abercrombie Ranking Minority Member Subcommittee on Energy and Mineral Resources Committee on Resources House of Representatives The purpose of this letter is to suggest changes in H.R. 846, the Helium Act of 1995, and H.R. 873, the Helium Privatization Act of 1995. These bills would provide for termination of the helium operations of the Interior Department's U.S. Bureau of Mines and require that we audit annually the financial statements of the Helium Fund, which would be prepared by Interior's Inspector General (IG). The changes we are suggesting would eliminate a duplication of financial audits already performed under the Chief Financial Officers (CFO) Act while ensuring that audited financial information on the Helium Fund continues to be reported. The Bureau of Mines financial statements for fiscal years 1993 and 1994, prepared under the CFO Act and audited by Interior's IG, contain the detailed information on the Helium Fund that would be required by H.R. 846 and H.R. 873. We have also reviewed two Senate bills--S. 45, the Helium Reform and Deficit Reduction Act of 1995, and S. 738, the Helium Act of 1995. S. 45 contains the same audit report requirements as H.R. 846 and H.R. 873. Because S. 738 would not require a financial statement audit of the Helium Fund, it would not duplicate the CFO Act requirements. However, unless amended, S. 738 would not ensure that audited financial information on the Helium Fund would continue to be GAO/AIMD-95-150R, H.R. 846 and H.R. 873 Helium Fund Audits \ rs' -< a

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