Review of Cancellation, Destruction, and Accounting for Currency Unfit for Circulation

Published by the Government Accountability Office on 1971-03-12.

Below is a raw (and likely hideous) rendition of the original report. (PDF)

                     DALLAS       REGIONAL        OFFICE
                     ROOM     SO0 1812 COMMERCE     STRFXT

                        DALLAS,       TEXAS       75201
                                  wi/iR 12    1971

Mr Darryl R Francls, President
Federal Reserve Bank of St LOUIS
St Louis, Mlssoun    63166

Dear Mr   FrancIs

        We have reviewed the actlvltles   of the Little Rock Branch
of the Federal Reserve Bank of St LOUIS, relating       to the cancel-
latlon,    destruction  and accounting for currency unfit for clrcu-
lation      Our review, which was completed In January 1971, was
performed pursuant to provlslons of Public Law 89-427, approved
May 20, 1966

      Our audit consisted of a review and evaluation of internal
audit and controls relating    to the cancellation, verlflcatlon and
destruction  of unfit currency, and an examlnatlon of related ac-
counting records pertaining    to these functions

     We found that the operations             reviewed were conducted in a
generally satisfactory manner

     We wish to express our appreclatlon                     for the courtesy and
cooperation extended our representatives                     during this review

      An lnformatlon copy of this letter  IS being sent to the Vice
President and Manager of the Little   Rock Branch

                                                    Sincerely     yours,

                    50 TH ANNIVERSARY 1921.197