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B-242974.8 1 (1992-12-11)

handle is hein.gao/gaobadcao0001 and id is 1 raw text is: Comptroller Guenra Of the Uited Stues W&ashps, DC, 3048 Decision Matter of: U.S, Army, Corps of Engineers Civil Works Revolving Fund Fil*: B242974,8 Date: December 11, 1992 DIGEST The Corps of Engineers is required under 31 U.S.C. 5 1501 zo recognize and record obligations of its Civil Works Revolving Fund when it awards contracts to be financed by the Fund, The Corps also is prohibited by the Antideficiency Act (31 U.S.C 5 1341(a)(1)(A)) from overobligating the Fund's available budget authority, These provisions are generally applicable to revolving funds and no law has exempted the Fund from them, DECISION During our audit c the U.S. Army fiscal year 1991 financial statements, we discovered that the U.S. Army, Corps of Engineers did not recognize obligations when it awarded equipment purchase contracts 'to be financed by the Corps' Civil Works Revolving Fund. iUA FINANCIAL AUPIT: iminatio.Lnsthe Army's Financial Statements for Fiscal XuA219.1 (GAO/AFMD-92-83), The Corps' policy put at issue whether the Fund is subject to the general requirement under 31 U.S.C 5 1501 to recognize and record obligations as they are incurred, and the prohibition in the Antideficiency Act (31 U.S.C 5 1341(a)(1)(A)) against incurring obligations in excess of available budget authority. For the reasons discussed below, we conclude that the Fund is subject to these general provisions. The Corps' proposed change in its policy and practice, if properly implemented, will bring the Fund into compliance with section 1501 and the Antideficiency Act. BACKGROUND Section 576 of title 33, United States Code, establishes the Corps of Engineers Civil Works Revolving Fund. The Fund is available without fiscal year limitation, for expenses necessary for the maintenance and operation of the plant and equipment of the Corps of Engineers used in Civil Works functions i~ossy / o&ThS5PUBLISHED DECISION Filr COPY aOUP CFN 72 Comp. Gen.

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