[Comments on Statutory Limitation Contained in Annual Appropriation Acts on FHLBB Administrative Expenses]

B-225986: Published: Mar 2, 1987. Publicly Released: Mar 17, 1987.

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In response to a congressional request, GAO commented on whether the Federal Home Loan Bank Board (FHLBB) should use funds in the Federal Home Loan Banks' shared expense account to pay FHLBB administrative expenses without being subject to statutory limitations. GAO determined that: (1) FHLBB is not legally authorized to accept payment or reimbursement from the banks for the travel-related administrative expenses of its personnel; and (2) FHLBB must pay for its travel-related administrative expenses from its own funds, which would be subject to the limitations on its administrative expenses contained in its annual appropriation act.

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