Financial Management: Indian Trust Fund Accounts Cannot Be Fully
Reconciled (Testimony, 03/08/95, GAO/T-AIMD-95-94).

The Bureau of Indian Affairs (BIA) has spent four years and $16 million
to reconcile Indian trust fund accounts.  BIA is requesting $6.8 million
for fiscal year 1996 to continue with the detailed reconciliation work.
However, it is clear that even if more reconciliation work is done, BIA
will not be able to guarantee that trust fund account balances are
accurate.  This is due to missing lease and accounting records; the
inability to verify that all earned revenues were collected, posted to
the correct account, and disbursed to the proper party; and the lack of
accurate, up-to-date ownership information.  Because the Indian trust
fund accounts cannot be fully reconciled, Congress may want to consider
legislating a settlement process in lieu of continuing to fund BIA's
reconciliation effort.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  T-AIMD-95-94
     TITLE:  Financial Management: Indian Trust Fund Accounts Cannot Be 
             Fully Reconciled
      DATE:  03/08/95
   SUBJECT:  Trust funds
             Native Americans
             Accounting procedures
             Data integrity
             Federal agency accounting systems
             Funds management
             Financial records
             Financial management systems
             ADP procurement
             Accounts receivable
IDENTIFIER:  Indian Trust Fund
             
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