Audit of Financial Statements of Saint Lawrence Seaway Development Corporation, Calendar Year 1976
FOD-77-13: Published: Sep 13, 1977. Publicly Released: Sep 13, 1977.
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The Saint Lawrence Seaway Development Corporation is the wholly-owned Government corporation created in 1959 to provide for construction, operation, and development--jointly between the United States and Canada--of the 27-foot-deep seaway between Montreal and Lake Erie. The Corporation has projected that beginning in 1978 it will not be able to meet its revenue bond redemption schedule as currently structured. The Governments of Canada and the United States are negotiating a toll increase, but it is unlikely that, even with the increase, enough revenues will be generated to resolve the Corporation's financial situation.
The corporation has considered several options, including asking the Secretary of the Treasury to alter the bond maturity dates, seeking legislative cancellation of the debt, or asking the Congress for appropriated funds. However, the Corporation does not plan to act on these options until the toll increase negotiations are concluded. Review of the Corporation's financial statements indicates that they present fairly the Corporation's financial position at December 31, 1976 and 1975, the results of its operations, and the source and application of its funds for the years then ended in conformity with principles and standards of accounting prescribed by the Comptroller General of the United States.
Nov 16, 2020
Financial Audit:
Bureau of Consumer Financial Protection's FY 2020 and FY 2019 Financial StatementsGAO-21-174R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020.-
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Federal Housing Finance Agency's FY 2020 and FY 2019 Financial StatementsGAO-21-201R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
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Securities and Exchange Commission's FY 2020 and FY 2019 Financial StatementsGAO-21-192R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020.
Nov 10, 2020
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Financial Audit:
IRS's FY 2020 and FY 2019 Financial StatementsGAO-21-162: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020. -
Financial Audit:
Office of Financial Stability's (Troubled Asset Relief Program) FY 2020 and FY 2019 Financial StatementsGAO-21-173R: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020.
Nov 9, 2020
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Financial Audit:
Bureau of the Fiscal Service's FY 2020 and FY 2019 Schedules of Federal DebtGAO-21-124: Published: Nov 9, 2020. Publicly Released: Nov 9, 2020.
Nov 6, 2020
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FY 2020 Excise Tax:
Agreed-Upon Procedures Related to Distributions to Trust FundsGAO-21-163R: Published: Nov 6, 2020. Publicly Released: Nov 6, 2020.
Oct 13, 2020
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DOD Financial Management:
Continued Efforts Needed to Correct Material Weaknesses Identified in Financial Statement AuditsGAO-21-157: Published: Oct 13, 2020. Publicly Released: Oct 13, 2020.
Sep 30, 2020
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Financial Management:
DOD Needs to Implement Comprehensive Plans to Improve Its Systems EnvironmentGAO-20-252: Published: Sep 30, 2020. Publicly Released: Sep 30, 2020.
Sep 9, 2020
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Defense Real Property:
DOD-Wide Strategy Needed to Address Control Issues and Improve Reliability of RecordsGAO-20-615: Published: Sep 9, 2020. Publicly Released: Sep 9, 2020.
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