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HRD-94-49R 1 (1993-11-03)

handle is hein.gao/gaobackld0001 and id is 1 raw text is: (j ( United States General Accounting Office Washington, D.C. 20548 Human Resources Division B-252788 November 3, 1993 The Honorable Earl M. Hutto Chairman, Subcommittee on Readiness Committee on Armed Services House of Representatives Dear Mr. Chairman: This is in response to your letters of December 10, 1992, and March 15, 1993, requesting that we review several issues related to the financing, operations, and management of the Armed Forces Retirement Home.' As agreed with your office, we focused on the Home's analysis of the status of the trust fund, including the projected balance to fiscal year 2000.2 We also examined a Home resident's allegations of mismanagement of funds by senior Home staff at the Soldiers and Airmen's facility. In conducting this work, we interviewed Department of Defense (DOD) and Home officials as well as Home residents. We also reviewed documentation supplied by the Home and residents, such as (1) prior studies of the Home's operations; (2) annual reports; (3) minutes of board meetings; (4) several historical, financial, and staffing analyses done by one of the residents; and (5) details of the Home's analysis of its future funding needs, including key assumptions, calculations, and data sources. As agreed with your office, we did not verify or assess the reasonableness of the Home's current expenses. 'The Home consists of two facilities, the Soldiers and Airmen's Home in Washington, D.C., and the Naval Home in Gulfport, Mississippi, which provide permanent living arrangements, including medical care, for about 2,200 retired, disabled, or war-time veterans. The Home is an independent agency of the executive branch of the federal government. 2The Home is financed through a trust fund comprised of (1) pay withholdings, fines, and forfeitures from active-duty enlisted members; (2) monthly fees collected from residents; (3) interest on the securities held by the Department of the Treasury; and (4) miscellaneous gifts and bequests. Armed Forces Retirement Home GAO/HRD-94-49R