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B-207994 1 (1982-12-06)

handle is hein.gao/gaobadktt0001 and id is 1 raw text is: DECIBION I Joserts4 THUN COMPTROLLER GENERAL OP THE UNITED ETATEE WAGSHINGTO NoD, ,09 30540 FILEt B--207994 DATE: 't~cember 6, 1982 MATTER OF: International Natural Rbber Organization--Return of Wited States Contribution DIGEST: 1. Repayments of money the United States has contrib- uted to the International Natura lubber Organiza- tict (IN=f), which have been returned as excess due to the contributions of new members to the INDE or due to'a reduction in the amount c' rubber imForted by the flited States are refunds and may be credited to the appropriation enacted for contributions to IN. Repayments which constitute proceeds of the sale of rubber may not be credited to the account but must be derosited into the Treasury as miscel- laneous receipts. 2. GAD has no legal objection to the retention of ex- cess funds in an ac'ount where they will be invested by the I1O for the benefit of individual menber governments, as the fund will be in custody of the INIUitself rather than of the United States. HIowv- ever, any earnings or interest from these invest- rents received by the thited States must be deposited in the Treasury as miscellaneoos receipts. 3. GAO has no legal objection to the escablishment of a separate account for deposit of excess fLnds pur- suant to the International Nlatural rbber Agreomnwnt under which the uited States has management and in- vestnunt control yet physical custody oi the funds remains with the ItM. However, any funds actually received by Treasury must be deposited into miscel- laneous receipts. The Deputy General Counsel of the Department of the Treasury has requested this Office's advice on the disposition of certain temporary excess funds now held by the International Natural Rbber organization (IMI) and available for distribution to several INW) mtmber countries, including the Uited States. The funds in ques- tion include a portion of the Uited States' initial contribution to the INRO's buffer stock account for the acquisition and maintenance of a stockpile of natural rubber as provided for In the Interna- tional Natural Rubber Agreement, V.1. NfDc. No. TD,'raubber/15/lev. 1 (effective October 1, 1980). Funds currently are available to re- turn to the original menber countries either (1) because additional members have joined the Agreement and their initial contributions have increased the total organization funds beycond what is immedi- ately necessary for current buffer stock operations; or (2) because 120o93

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