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089061 1 (1977-03-15)

handle is hein.gao/gaobacvbo0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON REGIONAL OFFICE FIFTH FLOOR 803 WEST BROAD STREET FALLS CHURCH, VIRGINIA 22046 Mr. Joseph Vellone Assistant Administrator, Management Rural Electrification Administration Department of Agriculture Z Independence Avenue between 12th and 14th Streets, SW. Washington, D.C. 20250 Dear Mr. Vellone: We have completed our exami tion of the Rural Telephone oZ- Bank's (RTB) financial statementsl for the 15-month period ended September 30, 1976, and our report to the Congress is currently being processed. A matter not included in that report, but which we believe demands your attention, concerns an improper allocation of certain expenses by the Rural Telephone Bank Board. and Patronage Capital for the 12-month period ended June 30, 1976, we determined that expenses charged to the account Proportionate Share of Telephone Expenses, in the amount of $170,000, were improper. RTB's board of directors adopted a resolution on February 6, 1976, which directed the Governor of the Bank to expend telephone bank funds to reimburse the Rural Electrifi- cation Administration (REA) for a proportionate share, not in excess of $170,000, of expenses.to be incurred for joint operations of the REA/RTB telephone program during.the remainder of fiscal year 1976. A memorandum accompanying the resolution stated that due to increased per diem rates and mileage allowances for use in Government travel, REA was faced with either making significant reductions in operations or finding other ways of absorbing the increased cost. The memorandum further stated that REA had explored other alternatives and * * * a determination was made that the agency could absorb a portion of the increased cost without impairing the ability to carry out the loan programs which had 0470

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