United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office National Security and International Affairs Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1996-08-16 monographic deposited born digital 12 p. GA 1.13:NSIAD-96-145 https://www.govinfo.gov/app/details/GAOREPORTS-NSIAD-96-145 P0b002ee180384660 f:ns96145 DGPO 2010-08-12 2011-03-23 GAOREPORTS-NSIAD-96-145 machine generated eng fdlp REPORT GAOREPORTS-NSIAD-96-145 NSIAD-96-145 Electronic funds transfer Financial management Environmental monitoring Army procurement Cash management Cost sharing (finance) Billing procedures Late payments Federal agency accounting systems Government collections EPA National Priorities List Letter Report NSIAD GAO provided information on cash management practices at Rocky Mountain Arsenal.<p/>GAO noted that: (1) the settlement agreement between the Army and Shell Oil Company does not provide for timely or efficient collection of environmental cleanup costs; (2) if the government does not collect the receivables in a timely manner, it will lose the opportunity to invest these funds in other projects; (3) poor cash management practices at the Arsenal have cost government more than one million dollars since 1989; (4) the Army bills Shell quarterly rather than monthly because in the past the Arsenal did not have the capacity to process disbursements on a monthly basis; (5) the Army and Shell take 90 days to exchange quarterly payments and document cost claims; (6) the 30-day extension period has cost the government an additional $500,000 in interest costs since 1989; (7) changing from a 90-day payment cycle to a 60-day payment cycle could be accomplished without any additional cost to the government; (8) the government has lost more than $22,000 in interest for checks processed after the payment due date; and (9) the Army should consider using an electronic payment system, since it costs less, accelerates the availability of funds to the receiving party, improves internal controls, reduces remittance processing time, and lessens paper and postage requirements. https://www.govinfo.gov/content/pkg/GAOREPORTS-NSIAD-96-145/html/GAOREPORTS-NSIAD-96-145.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-NSIAD-96-145/pdf/GAOREPORTS-NSIAD-96-145.pdf GAO/NSIAD-96-145 https://www.govinfo.gov/app/details/GAOREPORTS-NSIAD-96-145 Letter Report GAO/NSIAD-96-145; Environmental Cleanup: Cash Management Practices At Rocky Mountain Arsenal; Electronic funds transfer Financial management Environmental monitoring Army procurement Cash management Cost sharing (finance) Billing procedures Late payments Federal agency accounting systems Government collections EPA National Priorities List Title 31 Chapter 33 31 U.S.C. Chapter 33