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B-45109, NOV. 2, 1965

B-45109 Nov 02, 1965
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THE LETTER STATES THAT MOST OF THE SMALL DIFFERENCES INVOLVE ONLY PENNIES AND THAT RECORDS WHICH IDENTIFY THE PAYEE AND THE AMOUNTS IN EACH CASE ARE RETAINED PERMANENTLY IN THE BUREAU OF THE PUBLIC DEBT AND WILL PROVIDE THE INFORMATION NECESSARY TO ADJUDICATE ANY CLAIMS WHICH ARE PRESENTED FOR AMOUNTS CREDITED TO THIS SMALL DIFFERENCES ACCOUNT. THE PROPOSED USE IS EXPECTED TO PROVIDE ECONOMICAL AS WELL AS MORE ORDERLY ACCOUNTING PROCEDURES. SINCE WE HAVE NO CRITICISM OF THE PROPOSAL FROM AN ACCOUNTING OR AUDITING VIEWPOINT. WE WILL NOT OBJECT TO ITS IMPLEMENTATION.

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B-45109, NOV. 2, 1965

TO SECRETARY OF THE TREASURY:

BY LETTER OF SEPTEMBER 21, 1965, THE FISCAL ASSISTANT SECRETARY PROPOSED USE OF DEPOSIT FUND ACCOUNT 20X6718 TO CREDIT UNDERPAYMENTS AND CHARGE OVERPAYMENTS OF ONE DOLLAR OR LESS DISCOVERED IN THE AUDIT OF INTEREST PAID WITH THE PRINCIPAL OF REDEEMED TREASURY SECURITIES AND SECURITIES OF THOSE GOVERNMENT CORPORATIONS FOR WHICH THE DEPARTMENT ACTS AS AGENT.

THE LETTER STATES THAT MOST OF THE SMALL DIFFERENCES INVOLVE ONLY PENNIES AND THAT RECORDS WHICH IDENTIFY THE PAYEE AND THE AMOUNTS IN EACH CASE ARE RETAINED PERMANENTLY IN THE BUREAU OF THE PUBLIC DEBT AND WILL PROVIDE THE INFORMATION NECESSARY TO ADJUDICATE ANY CLAIMS WHICH ARE PRESENTED FOR AMOUNTS CREDITED TO THIS SMALL DIFFERENCES ACCOUNT.

THE PROPOSED USE IS EXPECTED TO PROVIDE ECONOMICAL AS WELL AS MORE ORDERLY ACCOUNTING PROCEDURES, AND SINCE WE HAVE NO CRITICISM OF THE PROPOSAL FROM AN ACCOUNTING OR AUDITING VIEWPOINT, WE WILL NOT OBJECT TO ITS IMPLEMENTATION.

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