This is the accessible text file for GAO report number GAO-03-856R entitled 'Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Aviation Hall of Fame for 2001 and 2000' which was released on June 05, 2003. This text file was formatted by the U.S. General Accounting Office (GAO) to be accessible to users with visual impairments, as part of a longer term project to improve GAO products' accessibility. Every attempt has been made to maintain the structural and data integrity of the original printed product. Accessibility features, such as text descriptions of tables, consecutively numbered footnotes placed at the end of the file, and the text of agency comment letters, are provided but may not exactly duplicate the presentation or format of the printed version. The portable document format (PDF) file is an exact electronic replica of the printed version. We welcome your feedback. Please E-mail your comments regarding the contents or accessibility features of this document to Webmaster@gao.gov. This is a work of the U.S. government and is not subject to copyright protection in the United States. It may be reproduced and distributed in its entirety without further permission from GAO. Because this work may contain copyrighted images or other material, permission from the copyright holder may be necessary if you wish to reproduce this material separately. June 5, 2003: The Honorable F. James Sensenbrenner, Jr. Chairman, Committee on the Judiciary: House of Representatives: Subject: Federally Chartered Corporation: Review of the Financial Statement Audit: Report for the Aviation Hall of Fame for 2001 and 2000: Dear Mr. Chairman: As requested, we reviewed the audit report covering the financial statements of the Aviation Hall of Fame,[Footnote 1] a federally chartered corporation, for the years ended December 31, 2001 and 2000. The corporation's purpose is to honor citizens, aviation leaders, pilots, and others for outstanding contributions to the establishment, development, advancement, or improvement of aviation, and to perpetuate the memory of them and record their contributions. 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. The objective of our review was to determine whether the audit report complied with the financial reporting requirements of the law. In carrying out our work, we reviewed the corporation's financial statements and the accompanying notes, performed certain analytical procedures related to information presented in the financial statements, and reviewed the auditors' report. However, we did not review the auditors' working papers, and we are not rendering an audit opinion. In addition to the general requirements of section 10101, Aviation Hall of Fame is required by 36 U.S.C. §23109 to include in its audit report under section 10101 a schedule of all contracts requiring payments greater than $10,000 and all payments of compensation or fees at a rate greater than $10,000 a year. Corporation officials told us they will prepare the applicable schedule and include it in its report for 2002. The audit report included the auditors' opinion that the financial statements of the corporation were presented fairly in accordance with U.S. generally accepted accounting principles. We are returning the audit report you sent with your letter. Sincerely yours, Jeanette M. Franzel: Director Financial Management and Assurance: Signed by Jeanette M. Franzel: Enclosure: (194225): FOOTNOTES  The Aviation Hall of Fame and the National Aviation Hall of Fame, an Ohio nonprofit corporation, operate together as the National Aviation Hall of Fame.