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Financial Management: American Battle Monuments Commission

  Premium   Download PDF Now (2 pages)
Report Type Reports and Testimonies
Report Date Oct. 12, 1994
Report No. AIMD-95-9
Subject
Summary:

Pursuant to a legislative requirement, GAO audited the American Battle Monuments Commission's use of coin surcharge proceeds.

GAO found that: (1) between May 1993 and September 1993, the Commission received $3,447,088 in coin surcharge proceeds from the U.S. Treasury; (2) the proceeds were initially deposited in a Treasury Fund as required by the World War II Memorial Authorization Act; and (3) as of September 1993, the Commission had not spent any of the proceeds for the design and construction of a memorial, had cash reserves totalling $84,987 to meet possible expenses, and had invested all of the remaining proceeds in U.S. interest bearing obligations.

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