[Authority of Treasury To Spend Funds Under the Olympic Commemorative Coin Act]

GAO was asked to review the authority of the Bureau of the Mint to spend funds under the Olympic Commemorative Coin Act to promote the sale of Olympic coins. Under the act, the Secretary of the Treasury was directed to issue gold and silver coins to commemorate the 1984 Summer Olympics. The coins were to be sold at a premium price and were not to result in a net cost to the Government. The net profits from the program were to be used for staging and promoting the summer games, training athletes, promoting amateur athletics, and erecting training facilities. GAO concluded that it would not object to promotional expenditures if: (1) they were deemed necessary to fulfill the statutory responsibilities of Treasury under the act; (2) a reasonable nexus existed between each Olympic coin donation or other promotional expense and a demonstrable anticipated media or marketing benefit for the program; and (3) promotional expenses were recouped from the proceeds of the sale of the coins.