United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Accounting and Information Management Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1993-10-13 monographic deposited born digital 5 p. GA 1.13:AIMD-94-11R https://www.govinfo.gov/app/details/GAOREPORTS-AIMD-94-11R P0b002ee1803926df f:ai94011r DGPO 2010-08-12 2011-03-23 GAOREPORTS-AIMD-94-11R machine generated eng fdlp REPORT GAOREPORTS-AIMD-94-11R AIMD-94-11R Federal fund accounts Property depreciation Accounting procedures Accounting systems Funds management Financial management Procurement appropriations Permanent budget authority Inspectors General Noncompliance Correspondence AIMD The National Institute of Standards and Technology (NIST) requested an opinion on the application of the Title 2 equity standard for preparing its Working Capital Fund financial statements. GAO found that: (1) the Department of Commerce's Inspector General (IG) has cited NIST for noncompliance with the equity standard; (2) IG has recommended that NIST adjust its equity accounts to reflect property depreciation and consider returning its excess earnings to the Department of the Treasury, since it receives duplicate equipment cost recoveries through appropriations and user fees; (3) NIST believes it is not required to reduce its equity accounts every year, since its equipment appropriation is intended to increase its working capital fund; (4) NIST believes that the monies received through permanent appropriations and user fees are intended to be reinvested in property and its equity accounts should not be reduced; and (5) NIST should not reduce its equity accounts, since its appropriations meet permanent investment criteria. https://www.govinfo.gov/content/pkg/GAOREPORTS-AIMD-94-11R/html/GAOREPORTS-AIMD-94-11R.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-AIMD-94-11R/pdf/GAOREPORTS-AIMD-94-11R.pdf GAO/AIMD-94-11R https://www.govinfo.gov/app/details/GAOREPORTS-AIMD-94-11R Correspondence GAO/AIMD-94-11R; Title 2--Equity Accounting; Federal fund accounts Property depreciation Accounting procedures Accounting systems Funds management Financial management Procurement appropriations Permanent budget authority Inspectors General Noncompliance