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B-167006, JUL 19, 1974, 54 COMP GEN 37

B-167006: Jul 19, 1974

"PRUDENT MAN RULE" IS TOO BROAD AND SUBJECTIVE TO BE USED AS TEST FOR WHAT CONSTITUTES "OTHER SAFE BONDS" WITHIN THE MEANING OF THAT PHRASE AS USED IN SUCH ACT. SINCE MEN MAY DIFFER AS TO WHAT IS REASONABLE AND PRUDENT. 1974: THIS DECISION TO THE MAYOR-COMMISSIONER OF THE DISTRICT OF COLUMBIA IS PURSUANT TO THE REQUEST OF MAY 10. FROM THE SPECIAL ASSISTANT TO THE MAYOR-COMMISSIONER FOR OUR VIEWS A...

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B-167006, APRIL 8, 1977

B-167006: Apr 8, 1977

SINCE FACULTY MEMBERS WERE PAID A SALARY FOR THE ACADEMIC YEAR. NO OBJECTION IS RAISED TO THE METHOD CHOSEN TO ACCOMMODATE THE SALARY PAYMENTS TO THE CHANGE IN THE ACADEMIC YEAR MADE IN 1976. THE METHOD OF COMPENSATION AND SALARY LEVELS FOR THE FACULTY MEMBERS ARE ESTABLISHED BY THE BOARD OF HIGHER EDUCATION. DURING WHICH NO ACTUAL SERVICES WERE PERFORMED. THE ACCOUNTING OFFICER FOR THE DISTRICT A...

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B-167006, APR 8, 1971, 50 COMP GEN 712

B-167006: Apr 8, 1971

DISTRICT OF COLUMBIA - FEDERAL CITY COLLEGE - INVESTMENTS SINCE THE FEDERAL CITY COLLEGE IS A LAND GRANT COLLEGE WITHIN THE PURVIEW OF THE "FIRST MORRILL ACT" AS PROVIDED BY THE DISTRICT OF COLUMBIA EDUCATION ACT. THE LAND GRANT FUNDS AVAILABLE TO THE COLLEGE ARE EXEMPTED FROM 47 D.C. "OTHER SAFE BONDS" ARE THE OBLIGATIONS OF VARIOUS FEDERAL AGENCIES. THAT ARE GUARANTEED BY THE U.S. 1971: REFERENC...

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B-167006, SEP 18, 1973

B-167006: Sep 18, 1973

IN VIEW OF THE FACT THAT THE DISTRICT OF COLUMBIA IS PROPOSING LEGISLATION TO OBTAIN THE NECESSARY AUTHORITY...

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Clarification of Phrase Referring to Safe Bonds

B-167006: Jul 19, 1974

Views were provided as to what constitutes "other safe bonds" as that phrase is used in the First Morrill Act. In an earlier, related decision, GAO noted that the Department of Health, Education, and Welfare (HEW), which administers the First Morrill Act, considered bonds approved for investments by fiduciaries by Rule 23 of the Rules of the U.S. District Court for the District of Columbia to be "...

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Federal City College: Effect of Revised Academic Year on Payroll Plan

B-167006: Apr 8, 1977

An Accounting Officer, Budget and Management Systems, Washington, D.C., requested GAO views concerning the propriety of certifying payroll vouchers for faculty members for the 10th month of the academic year. Although the academic year was changed from 10 to 9 months, the payment is proper, and would accommodate the change in academic year...