House Beauty Shop Revolving Fund's Financial Statements for the Years Ended December 31, 1984 and 1983

AFMD-85-48: Published: Jul 29, 1985. Publicly Released: Jul 29, 1985.

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Pursuant to a congressional request, GAO reviewed the balance sheets of the House of Representatives Beauty Shop Revolving Fund as of December 31, 1984 and 1983, and the related statements of operations and changes in financial position for the years then ended.

GAO found that: (1) the Beauty Shop's financial statements fairly presented its financial position as of December 31, 1984 and 1983, in conformity with generally accepted accounting principles and policies applied on a consistent basis; (2) the Fund complied with the terms and provisions of laws and regulations that govern financial transactions; and (3) there were no material weaknesses in the Fund's internal control system.

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