Audit of the Senate Recording and Photographic Studios Revolving Fund for the Fiscal Year Ended March 31, 1982

AFMD-82-99: Published: Sep 1, 1982. Publicly Released: Sep 1, 1982.

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Pursuant to a congressional request, GAO examined the financial statements of the Senate Recording and Photographic Studios Revolving Fund as of March 31, 1982 and 1981, and the related statements of operations and changes in financial position for those years.

GAO found that, while the photographic studio experienced a net loss, profits from the recording studio's radio and video activities rose substantially because of higher sales and reduced maintenance and repair costs. GAO determined that the financial statements of the Senate Recording and Photographic Studios Revolving Fund are a fair presentation of the Fund's financial position.

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