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Machine-read from the scan, so expect some errors. Lines that couldn’t be read are left out.
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Representatives of t h e Finance Division discussed informally with GAO the request of the University of California for a release by GAO upon payment of t h e proposed refund of excess overhead allowed under two University of California contracts through June 30, 1948*' X i The GAO requested that we first prepare a schedule of a l l vouchers paid under these contracts. E hReprllvEs- 3 5 - A letter from the Director of the Bureau of the Budget dated December 19, 19L9, transmitted the allowances approved by t h e Presidento The proposed appropriat;ion language transmitted by the Bureau contained a cost limitst'ion on AEC operations for 1951. The stifling effect of such a limitation on the develop ment of the AEC accounting system was discussed with the Budget Bureau and t h e Accounting Systems Division of GAO, and Mr. Lilienthal was informed of the problem. On December 20, MessrsLilienthal, Vilson, Hollis, and Noble represented the Commission ina meeting with Bdessrs. Pace, Lawton, Carey, and Schuldt of the Bureau t o discuss deletion of this limitation.As finally forwarded t o the Congress, the President's budget did not propose a cost limitation in the 1951 appropriation language.
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Conferences of Manqers and Laboratory Directors The Acting Controller and the Deputy Director for Budgets attended the December 11-11;conferences i n Chicago. were very helpful in clarifying several generalmvlagement problems, also some problems of finance relationships nith in the AEC and relations with the national research laboratories. Talks on AEC Accounting The December issue of Nucleonics carried an article based on a talk by Harold Eversole, Chicago Director of Finance, on "The Or, December 6 t h e Acting Controller spoke on accounting i n AEC a t an accounting round table of the Society for the Advancement of Llanagement. i n AEC accounting and budgeting practices. Those present showed a great deal of interest A supplement tothe construction contract manual now i n preparation will contain more detailed insurance provisions. Final plans are made for a one-week course t o be held i n Brookhaven beginning February 6, 1950, f o r the underwriters and engineers of casualty insurance companies e Controller fs Release No. 11 was issued December 16 t o set forth procedures for auditing insurance premiyw paid by all AEC cost-type contractors where such premium payments are direct costs t o be reizbursed by the Commission. The Auditing Eranch reviewed a draft of Lybrsnd, Ross Bros. a d Montgomery's report on audit prccedures for the source a d fission able materials accountability system with the Production Division and discussed parts of the report with the firm. During the month the Auditing Branch completed a review of the appraisal of the Arc0 site and of arrangements for AEC t o acquire cert z in personal property there and expressed the opinion that the Navy-suggested price of $2,700,000 was fair. - The report of Scovell, Wellington and Company on the financial appraisal of physical facilities at Oak Ridge was received
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A11 EC offices had made sufficient progress with the broperty survey and t h e work of establishing accounts and procedures for property control to state the cost and make a preliminary statement of accrued depreciation on their physical facilities as Before transferring to ECA on December 21, m e Green transmitted t o the General Manager a set of AEC annual financial state - ments for the fiscal year 19L9. valuation program hed not been completed by that time,the fixed asset figures were tentative. statements tothe Finance Division with a request for additional information,and the supplementary data are now being compiled, Since t h e property inventory and The General Manager returned t h e