Federal Prison Industries, Inc., Financial Statements for FY 1985
AFMD-86-40
Published: May 29, 1986. Publicly Released: May 29, 1986.
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Highlights
GAO examined the Bureau of Prisons' Federal Prison Industries' (UNICOR) balance sheet for the year ended September 30, 1985, and its statements of income and cumulative results of operations for the year then ended.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Federal Prison Industries, Inc. (UNICOR) | The Commissioner, UNICOR, should direct the Controller to identify the cause of the difference in cash balances between UNICOR and the Treasury and to perform a monthly cash reconciliation as prescribed by UNICOR procedures. |
Closed – Implemented
Reconciliations for prior periods were completed and will be required for the future on a monthly basis.
|
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Accounting proceduresAuditing standardsCorporate auditsFederal corporationsFinancial disclosureFinancial managementFinancial recordsFinancial statement auditsFunds managementInternal controls