Examination of Financial Statements of the Government Printing Office for Fiscal Year 1978
LCD-80-4: Published: Nov 2, 1979. Publicly Released: Nov 2, 1979.
- Full Report:
An audit was conducted of the Government Printing Office (GPO), which provides printing and binding services for Congress, executive departments, and independent agencies of the federal government. It also sells many publications to the public. GPO activities are paid for by a revolving fund financed from four sources: (1) appropriations for printing and binding services performed for Congress; (2) reimbursements for printing services from federal departments and agencies; (3) sales of government publications to the public; and (4) appropriations for specific programs.
In fiscal year (FY) 1978, 61.5 percent of the printing and binding revenue resulted from work performed under contract by commercial firms. GPO reported a profit on printing and binding services of about $11 million for the year. Starting in FY 1978, the costs of selling government publications to the public were required to be financed from sales receipts. It was the opinion of GAO that the financial statements presented fairly the financial position of GPO, the results of its operations, and the changes in its financial position for the year.