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105673 1 (1978-02-24)

handle is hein.gao/gaobacxqo0001 and id is 1 raw text is: 



DCCUMENT BESUSE


05673  - (81166128]

IReview  of Cancellation, Destruction, and Accounting for Unfit
Currency].  February 24, 1978. 2 pp.

Report  to Paul H. Taylor, Acting Fiscal Assistant Secretary,
Department  of the Treasury; by Thomas A. Colan, Assistant
Director,  General Government Div.

Contact:  General Government Div.
Organization Concernedi  Department of the Treasury: Bureau of
     Government Financial Operations.
Authority:  31 U.S.C. 49a.

         GAO is required by lau to anait the cancellation,
destruction, and accounting for currency unfit  tar circulation.
A recent review indicated  that the unfit currency operations
carried out at Federal Reserve banks  an  tranches are geaerally
conducted in a satisfactory manner. It calendar Isar  1977, the
Department of the Treasury's Bureau of Government Financial
Operations conducted audita at the 37 federal Reserve banks and
branches, includinq observing  ad evaleating every phase of the
unfit currency operations. Financial audits made by internal
auditors included the counting and ccafirmation of selected lots
of unfit currency before it was destroyed ty incineratice cr
pulverization. (RRS)

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