Audit of the United States Senate Restaurants Revolving Fund--September 30, 1979, to September 27, 1980
AFMD-81-63: Published: Jul 7, 1981. Publicly Released: Jul 7, 1981.
- Full Report:
GAO examined the balance sheet of the U.S. Senate Restaurants Revolving Fund as of September 27, 1980, and September 29, 1979, and the related statements of operations and changes in financial position for the years then ended. The Senate restaurants are operated primarily for Senators and employees of the Senate. The Architect of the Capitol is responsible for managing the restaurants. Receipts from sales, commissions, and transfers from the appropriations for the contingent expenses of the Senate are used to finance the activities of the Senate Restaurants Revolving Fund.
For the period ended September 27, 1980, sales receipts and commissions amounted to $4,253,211. There was no transfer from the appropriation for contingent expenses of the Senate during the year. Senate restaurants operations for the period ended September 27, 1980, resulted in a net operating profit of $21,428 compared with a net operating loss for the preceding period of $79,424. The change from a loss in fiscal 1979 to a profit in fiscal 1980 can be attributed primarily to a decrease in losses on cafeteria food operations, an increase in the profit on fast food and cigar-stand operations, and an increase in vending machine commissions. In the opinion of GAO, the financial statements present fairly the financial position of the Senate Restaurants Revolving Fund as of September 27, 1980, and September 29, 1979, and the results of its operations and changes in financial position for the years then ended.