GOVERNMENT FURNISHED AND CONTRACTOR ACQUIRED EQUIPMENT AND MATERIAL

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-01370R000300030018-7
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 2
• Document Creation Date: December 9, 2016
• Document Release Date: September 6, 2000
• Sequence Number: 18
• Publication Date: February 15, 1960
• Content Type: MF

+4provlec FF.reease 2000/09/12 : Cl~00-013708000300030018-7
MEMORANDUM FOR: Deputy Comptroller
SUBJECT Government Furnished and Contractor
Acquired Equipment and Material
REFERENCES (a) Memo to Chief, Audit Staff from
Director of Logistics dated
28 December 1959, subject: Govern-
ment Furnished Equipment and
Material
(b) Memo to Chief, TAS from
dated 21 January 1960, subject:
Government Furnished Equipment and
Contractor Acquired Material
1. Reference (a) was sent to this Office for con-
currence. I understand that the Audit Staff has informally
expressed accord therewith. At first review it was the
view of the writer that the proposed procedure was not
adequate but that actual financial property accounting
should be established over subject property.
2. Discussions were held with representatives of the
Supply and Procurement Divisions of the Office of Logistics
and the Chief and Deputy Chief of the Industrial Contract
Audit Division of this Office. At that meeting the various
complicating factors inherent in any effort to establish
routine procedures for maintaining financial property
accounting procedures for subject property were discussed,
particularly the time interval normally elapsing between
actual acquisition of property and receipt of information
relative thereto by the Agency, as well as the types of
documentation available to provide data on subject property
acquired by contractors. Further, a representative of this
Staff reviewed the records presently maintained in the Pro-
curement Division relative to subject property; his findings
are set forth in reference (b).
3. In view of the foregoing, it is now my feeling
that the proposal set forth in reference (a) should be
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accepted unless you feel that, in veiw of the dollar
value of the subject property as indicated in refer-
ence (b), ($1,235,000) it is essential to reflect this
property in the financial records. In the latter event
this could be accomplished as recommended in paragraph 7
of reference (b).
4. It is recommended, therefore, you concur in the
28 December 1959 memorandum from Director of Logistics
to Chief, Audit Staff subject to the following condition,
which I suggest be typed following your signature:
"The above concurrence is subject to (1) a
review of the memorandum property records main-
tained in the Procurement Division relative to
subject, participated in jointly by representa-
tives of the Office of Logistics, Management Staff
and the Technical Accounting Staff of this Office,
to assure that such records adequately provide the
required information as to property items and value
with each contractor; (2) arrangement for the Pro-
curement Division as indicated in paragraph 2 above,
to furnish the Finance Division of this office by
the third working day following the end of each
quarter, with a quarterly advice of the dollar
value of subject property owned by the Agency as
evidenced by the records of the Procurement Division
as of the close of the preceding quarter; and (3)
the performance by Audit Staff of an annual audit
of the subject records as maintained by the Pro-
curement Division."
This recommendation has been discussed with the Chief,
Industrial Contract Audit Division, and he is in accord.
Also, this matter has been discussed with a representative
of the Management Staff, who is currently reviewing Pro-
curement Division operations and has withheld recommenda-
tion relative to subject property and he has agreed to
participate in the suggested review.
W 25X1A9a
EMO Chief, Technical Account ng S
taff
Approved For Release 2000/09/12 : g ( jJ 80-01370R000300030018-7