[Legality and Implications of Air Force Transfer of Funds]

Pursuant to a congressional request, GAO provided information concerning the legality and potential implications of draft legislation authorizing the transfer of excess funds from an Air Force M account to the Export-Import Bank in exchange for five DC-10 aircraft and associated spare parts. Congress believes that the excess funds are required to be reverted to the Treasury and are not available for expenditure. GAO noted that, since the excess funds were not originally appropriated for the purchase of the aircraft, the transfer would constitute an unauthorized budget action. Therefore, GAO recommended that the legislation not be enacted.