Asset Forfeiture Funds:

Changes Needed To Enhance Congressional Oversight

T-GGD-87-27: Published: Sep 25, 1987. Publicly Released: Sep 25, 1987.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO discussed the Department of Justice's and the U.S. Customs Service's operation of forfeiture funds. GAO noted that the Justice Assets Forfeiture Fund: (1) increased substantially due to the elimination of the requirement to transfer surplus funds; (2) received little congressional oversight over fund expenditures; and (3) had inaccurate accounting and management systems. GAO also noted that the Customs Forfeiture Fund's: (1) allowed carryover of $20 million was unnecessarily high; (2) accounting system was inadequate; (3) practice of netting receipts and expenses was cumbersome; and (4) previous fiscal year reports did not identify such basic information as beginning or year-end balance, sources of receipts, or net amount realized. GAO believes that Congress should: (1) reestablish a limit on the amount of funds that Justice should carry forward; (2) eliminate annual authorization and appropriation limitations for the Customs fund and establish a carryover provision; and (3) require annual financial audits for the funds. GAO also believes that Customs should: (1) record and report all authorized receipts and expenses; (2) bring its accounting system into conformance with GAO requirements; and (3) report accounting system weaknesses under the Federal Managers' Financial Integrity Act.

Sep 21, 2016

Aug 3, 2016

Aug 1, 2016

Jul 14, 2016

Jul 5, 2016

Jun 30, 2016

Jun 28, 2016

Jun 23, 2016

Jun 22, 2016

Looking for more? Browse all our products here