Reconciliation of Fund Balances with Treasury
AIMD-97-104R: Published: Jun 24, 1997. Publicly Released: Jun 24, 1997.
- Full Report:
GAO provided: (1) information on key Treasury and agency processes and procedures for reconciliations of fund balances with Treasury accounts and alert Inspectors General (IG) to GAO concerns and certain issues related to these reconciliations that have emerged in GAO's work to date; and (2) guidance and suggested audit procedures for fund balances with Treasury accounts to assist IGs in developing audit plans for audits of fiscal year 1997 financial statements.
GAO: (1) worked with the Federal Audit Executive Council and representatives of the Council's Financial Statement Network Group, as well as Treasury's Financial Management Service, to obtain their input in developing this information; (2) expects that other audit issues will surface during the performance of GAO's audit of the Consolidated Financial Statements of the U.S. Government; and (3) plans to follow the same approach as it used for this issue for obtaining input from the Inspector General community before finalizing any material.