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GAO reported on activities financed by the Office of Personnel Management's (OPM) revolving fund, focusing on the planning, budgeting, and other financial management aspects of the fund.
Recommendations for Executive Action
|Office of Personnel Management||1. The Director, OPM, should clearly define the terms "actual cost basis" and "reasonable period of time." The clarification should: (1) state the period of time over which actual costs must be recovered; (2) require activities to account for and recover their full costs; and (3) prohibit using appropriated funds to pay for revolving fund expenses.|
|Office of Personnel Management||2. The Director, OPM, should: (1) establish financial performance standards for revolving fund activities and require written plans for correcting deviations from the standards; and (2) require that plans and budgets for subsequent years recognize past financial performances and identify how and when financial problems will be corrected.|