Word: gao
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Dates: during 1960-1969
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...cost effectiveness" and "buying at the lowest sound price," but behind this jargon lurks a behemoth of waste. Senator William Proxmire, chairman of the Joint Economic Committee, placed the figure at "maybe billions and billions" of dollars following testimony last May by officials of the General Accounting Office (GAO...
...most recent report of the GAO--Congress's financial watchdog--has received the most publicity. Published in November, it established that 23 defense contractors, including Boeing Company, Sikorsky Aircraft, and Sperry Gyroscope Company, have violated a series of government regulations on the use of defense equipment. These 23 contractors hold $1 billion in government property, in addition to special tooling and special test equipment valued at $347 million. Both the GAO and the Joint Economic Committee say that the conduct of the 23 contractors is "representative" of the 5,500 contractors holding $15 billion in government property...
...contractors have widely ignored a DOD regulation requiring them to keep official records of government property in their possession. The GAO also found that some contractors have so much government-owned industrial equipment that it is either little used or used extensively for commercial work. Contractors frequently disregard regulations requiring advanced approval from the Office of Emergency Planning before using government-owned machine tools for commercial purposes more than 25 per cent of the time. One Cleveland corporation was lent a $1.4 million steel press at low rentals and subsequently used the press more than three-quarters of the time...
...GAO report also charged that the DOD fails to apply rental rates uniformly and to collect all it is owed. In one case where the Defense Department charged a contractor $226,400 for rent, the GAO calculated that $809,000 should have been collected...
...General Accounting Office and The Bureau of the Budget -- both these agencies have already transcended their simple accounting duties. They now deal with problems of efficiency among federal administrative bodies, such as preventing overlapping. Gellhorn wants the GAO and Budget Bureau to increase the scope of their work...