**GAO-03-134**                      Published: Dec 13, 2002. Publicly Released: Dec 13, 2002.                  

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## Highlights

In connection with fulfilling our requirement to audit the financial statements of the U.S. government, we audit the Schedules of Federal Debt Managed by the Bureau of the Public Debt, which includes testing compliance with the debt ceiling. To assist us in this testing and because of the nature of and sensitivity towards actions taken during a debt issuance suspension period, we (1) developed a chronology of significant events, (2) analyzed the financial aspects of Treasury's actions taken during the debt issuance suspension periods and assessed the legal basis of these actions, and (3) analyzed the impact of the policies and procedures used by Treasury to manage the debt during the debt issuance suspension periods.

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## Topics

Budget and Spending

Federal fund accountsFinancial managementPublic debtFederal employees retirement systemSecuritiesCivil serviceDebt ceilingTreasury securitiesData errorsBenefit payments