Summary: GAO discussed the President's Commission on Executive Exchange, focusing on the adequacy of controls over: (1) procurement; (2) travel; (3) budget; and (4) personnel. GAO noted that: (1) due to erroneous Office of Personnel Management (OPM) legal advice, the Commission made inappropriate expenditures from the OPM revolving fund over a 4-year period without regard to federal laws and regulations; (2) the Commission charged redecorating expenses to the proper fund and followed OPM and General Services Administration procedures in procuring redecorating services; (3) the Commission contracted with travel agencies rather than using OPM travel services, resulting in excess costs to the government; (4) in fiscal years 1989 and 1990, OPM improperly charged $89,283 in Commission purchases against private-sector fees instead of to the Commission's appropriation for salaries and expenses, and improperly allowed $1,537 that should not have been purchased with either source of funds; (5) although the Commission followed some federal personnel rules, it did not follow others, such as approving employee overtime; and (6) the Commission implemented OPM recommendations to correct its administrative policies and procedural deficiencies. GAO also noted that the President: (1) abolished the Commission in May 1991; and (2) charged OPM with shutting the Commission down by September 1991.