Audit of the Office of the Attending Physician Revolving Fund, Fiscal Year 1977

GGD-78-31: Published: Dec 29, 1977. Publicly Released: Dec 29, 1977.

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The financial transactions of the Office of the Attending Physician Revolving Fund for fiscal year (FY) 1977 were audited in accordance with generally accepted auditing standards. Financial statements for the revolving fund were prepared from records furnished by the fund. These statements do not include certain expenses such as labor, syringes, and other supplies incurred in revolving fund operations and paid for with appropriated funds.

The purchase and resale of prescription drugs make up the majority of the funds' receipts and disbursements. Authorizing legislation requires all moneys received from the sale of drugs or other sources to be deposited by the Office in the revolving fund and permits disbursements from the fund for the purchase of drugs for resale. After restoring any impairment of capital, the fund's net income is required to be transferred to the general fund of the U.S. Treasury. The net income to be transferred to the Treasury for FY 1977 is $1,406.06.

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