Mint Budget Authorization (H.R. 2931): Hearing Before the Subcommittee on Consumer Affairs and Coinage of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred First Congress, First Session, on H.R. 2931 ... August 1, 1989

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95. lappuse - Program (JFMIP) is a joint and cooperative undertaking of the Office of Management and Budget, the General Accounting Office, the Department of the Treasury, and the Office of Personnel Management, working in cooperation with each other and with operating agencies to improve financial management practices.
106. lappuse - In a 1959 report, we recommended that the Congress consider financing all operations of the Mint, except for gold and silver purchases, directly from seigniorage and by permitting the Mint to retain all revenues.
106. lappuse - Congress to be credited with collections, primarily from the public, that are generated by and earmarked to finance a continuing cycle of business-type operations. Establishing such a fund for the Mint's numismatic operations, which are currently financed through four separate funds, would consolidate (1) all accounting and budgeting for sale revenues, (2) the cost of production, marketing, and administration, (3) the cost i-Audit of the Bureau of the Mint For Fiscal Years 1956-1958 (B-114877, August...
34. lappuse - During fiscal year 1990 and thereafter, sales proceeds would be deposited into the revolving fund. Operating and capital expenditures would be charged against the fund. At year end, the net profits resulting from all numismatic and bullion programs would be deposited into the general fund of the Treasury, with the exception of the necessary funding to be retained to finance necessary capital acquisitions and start-up operations for the subsequent fiscal year. The mint would be required to submit...
8. lappuse - OPERATING AND CAPITAL EXPENDITURES WOULD BE CHARGED AGAINST THE FUND. AT YEAR END, THE NET PROFITS RESULTING FROM ALL NUMISMATIC AND BULLION PROGRAMS WOULD BE DEPOSITED INTO THE GENERAL FUND OF THE TREASURY, WITH THE EXCEPTION OF THE NECESSARY FUNDING TO BE RETAINED TO FINANCE NECESSARY CAPITAL ACQUISITIONS AND START-UP OPERATIONS FOR THE SUBSEQUENT FISCAL YEAR. THE MINT WOULD BE REQUIRED TO SUBMIT BUSINESS-LIKE STATEMENTS TO THE CONGRESS IN SUPPORT OF THE PUBLIC ENTERPRISE FUND. FULL IMPLEMENTATION...
17. lappuse - ... eliminate what you see as some abuses, but you did have the authority to shut down the program altogether? Mr. CAMPBELL. That is correct. That is according to our lawyers, the General Counsel, that is correct. Mr. BOWEN. Thank you, Mr. Chairman. The CHAIRMAN. Mr. Jones? Mr. JONES of Tennessee. Thank you, Mr. Chairman. I am sorry I was not here for the full session to enjoy what Mr. Campbell had to say. I have no questions, Mr. Chairman, because of the fact that I was out. The CHAIRMAN. Thank...
9. lappuse - This is in response to your 1985 report to the President and the Congress under the Federal Managers
27. lappuse - Thank you very much. [Whereupon, at 11:30 am, the hearing was adjourned, subject to the call of the Chair...
106. lappuse - Bureau—annual appropriations, authority to expend from three funds, and revenues from reimbursable operations — are subject to different types of congressional controls." We recommended, at that time, that the Congress consider changing the Mint's method of financing. We continue to believe that it would be appropriate for the Congress to consider changing the method of financing the Mint's operations. While financing for the Mint's domestic coinage program could still be handled through annual...
30. lappuse - PROFITS FOR THIS PERIOD ON THE AMERICAN EAGLE UNCIRCULATED PROGRAM ARE APPROXIMATELY $3.4 MILLION WHICH INCLUDES THE PROFIT ON THE REPURCHASE OF GOLD ORIGINALLY BORROWED FROM TREASURY RESERVES. PROFITS FOR THIS PERIOD ON THE AMERICAN EAGLE GOLD PROOF PROGRAM ARE APPROXIMATELY $32.7 MILLION. THE AMERICAN EAGLE SILVER BULLION PROGRAM ALSO CONTINUES INTO ITS THIRD YEAR WITH FY 1988 AND FY 1989 SALES TO DATE EXCEEDING $114 MILLION.