Senate Restaurants Revolving Fund for Fiscal Years 1992 and 1991
AIMD-94-64: Published: Apr 8, 1994. Publicly Released: Apr 8, 1994.
- Full Report:
Pursuant to a legislative requirement, GAO audited the financial statements of the Senate Restaurants Revolving Fund as of October 3, 1992 and October 5, 1991.
GAO found that: (1) the Fund's financial statements were reliable in all material respects and fairly presented, in conformity with generally accepted accounting principles, its assets, liabilities, government equity, results of operations, and cash flows; (2) the Fund incurred operating losses in fiscal year 1992 which were offset by supplemental funding; (3) the internal controls in effect as of October 3, 1992 reasonably ensured that losses, noncompliance, and material misstatements would be prevented or detected; and (4) there was no evidence of material noncompliance with selected laws and regulations.