This is the accessible text file for GAO report number GAO-05-503R 
entitled 'Federally Chartered Corporation: Financial Statement Audit 
Report for the Former Members of Congress, Incorporated, for Fiscal 
Year 2003' which was released on June 10, 2005. 

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June 10, 2005: 

The Honorable F. James Sensenbrenner, Jr.
Chairman:
Committee on the Judiciary:
House of Representatives: 

Subject: Federally Chartered Corporation: Financial Statement Audit 
Report for the Former Members of Congress, Incorporated, for Fiscal 
Year 2003: 

Dear Mr. Chairman: 

As requested, we read the audit report covering the financial 
statements of the Former Members of Congress, Incorporated, a federally 
chartered corporation, for the fiscal year ended December 31, 2003. The 
corporation's purpose is to promote and improve public understanding of 
the Congress as an institution and representative democracy as a system 
of government, both domestically and internationally. 

Federally chartered corporations are required under 36 U.S.C. 10101 
to: 

* present the corporation's assets and liabilities and reasonable 
detail on the corporation's income and expenses in annual financial 
statements and: 

* obtain an annual financial audit by an independent public accountant. 

Our objective was to advise you of any matters in the report regarding 
compliance with the financial reporting requirements of the law. In 
carrying out our work, we read the corporation's financial statements 
and the accompanying notes, performed certain analytical procedures 
related to information presented in the financial statements, and read 
the auditor's report. We did not identify any instance of noncompliance 
with the above financial reporting requirements of the law. 

We did not perform an audit or review the auditor's working papers, and 
we are not rendering an audit opinion. 

The audit report included the auditor's opinion that the financial 
statements of the corporation were presented fairly in accordance with 
United States generally accepted accounting principles. We are 
returning the audit report you sent with your letter. 

This letter is intended solely for your use and the use of the 
Committee on the Judiciary. 

Sincerely yours,

Signed by: 

Steven J. Sebastian:
Director, Financial Management and Assurance: 

w/o Enclosure: 

(196042):