Query Regarding Propriety of Expenditure of Loan Moneys

GAO was asked to determine whether an expenditure for fund raising donations is permissible from the loan moneys received from the National Consumer Cooperative Bank. It is not the function of GAO to review or resolve questions of loan administration. GAO suggested that the question be submitted to the National Consumer Cooperative Bank, which would have the authority and jurisdiction to determine whether its loan funds may be used for fundraising.