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[Question Concerning Secretary of the Treasury's Authority]

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Highlights

Pursuant to a congressional request, GAO commented on whether the Secretary of the Treasury has the authority to determine the order in which obligations are to be paid. GAO found that: (1) the Treasury may use a normal flow of revenues to pay obligations of the government as the funds become available in an operating cash balance; (2) there was no statute requiring the Treasury to pay outstanding obligations in the order in which they were presented for payment; and (3) the Treasury is free to liquidate obligations in any order it finds will best serve the interests of the United States.

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