Examination of GSA's Fiscal Year 1985 Financial Statements

AFMD-86-55: Published: Jun 11, 1986. Publicly Released: Jun 11, 1986.

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Pursuant to a congressional request, GAO examined the General Services Administration's (GSA) fiscal year (FY) 1985 financial statements, specifically its internal accounting controls system.

GAO found that GSA failed to: (1) fully support its general ledger balances with detailed subsidiary records and quickly resolve any discrepancies; (2) ensure prompt billing of customers for automatic data processing services; (3) adequately control the process of recording unbilled accounts receivable and related revenue for services provided through third-party subcontractors; (4) promptly analyze and adjust discrepancies between its cash balance and the Department of the Treasury's reported balance; and (5) promptly reconcile its liability for telephone usage with actual bills received and paid.

Recommendations for Executive Action

  1. Status: Closed - Implemented

    Comments: GSA progress is being reviewed as part of a GAO audit of GSA FY 1986 financial statements. The review recommended is being conducted annually in response to the Financial Integrity Act (FIA). The report is issued under the signature of the Administrator of General Services.

    Recommendation: The Administrator of General Services should reemphasize the need for GSA employees to comply with established internal control requirements. Specifically, the Administrator should direct the heads of each GSA major service and office to: (1) review, within their respective areas of responsibility, the status of compliance with applicable internal accounting controls; (2) report to the Administrator, in writing, on all areas where compliance is not being achieved; and (3) provide the Administrator with a detailed plan for corrective actions, including anticipated accomplishment dates.

    Agency Affected: General Services Administration

  2. Status: Closed - Implemented

    Comments: GSA progress is being reviewed as part of a GAO audit of GSA FY 1987 financial statements. In addition, the GSA Inspector General staff is monitoring the FIA review process in 1987.

    Recommendation: To help ensure this effort achieves the results intended, the Administrator of General Services should request the GSA Inspector General to monitor and report on the adequacy of the reviews by the offices and services and the effectiveness of the corrective actions undertaken.

    Agency Affected: General Services Administration

 

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