United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao_comptroller_general legislative 2016-06-23 U.S. Government Publishing Office 2006-01-03 monographic deposited born digital 5 p. GA 1.13:B-305402 https://www.govinfo.gov/app/details/GAOREPORTS-B-305402 P0b002ee18fd43cb8 f:305402 DGPO 2016-06-23 2016-06-23 GAOREPORTS-B-305402 machine generated eng fdlp COMPTROLLERDECISION GAOREPORTS-B-305402 B-305402 Comptroller General Decision 1. The National Aeronautics and Space Administration may not retain proceeds from the sale of demutualization compensation received from its contractor, California Institute of Technology (Caltech). Caltech had received demutualization compensation in the form of stock from Prudential Life Insurance Company on policies held for the benefit of employees who operated a NASA laboratory pursuant to a long-standing contract between NASA and Caltech. The proceeds do not qualify as a repayment to NASA, and NASA has no authority to retain and credit to its appropriation proceeds from the sale of the compensation. Accordingly, NASA must deposit them into the Treasury as miscellaneous receipts under 31 U.S.C. sect. 3302(b).<p/> 2. After NASA determined that proceeds from the sale of demutualization compensation were public moneys, NASA should have ensured that such proceeds were deposited in the United States Treasury the day following receipt of those proceeds. Directing Caltech officials to deposit proceeds in an interest-bearing money market account violated 31 U.S.C. sect. 3302(c)(1) and Treasury Regulation, 31 C.F.R. sect. 206.5(a)(1). https://www.govinfo.gov/content/pkg/GAOREPORTS-B-305402/html/GAOREPORTS-B-305402.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-B-305402/pdf/GAOREPORTS-B-305402.pdf GAO/B-305402 https://www.govinfo.gov/app/details/GAOREPORTS-B-305402 Comptroller General Decision GAO/B-305402; B-305402, National Aeronautics and Space Administration--Retention of Demutualization Compensation, January 3, 2006;