Financial Audit:

House Recording Studio Revolving Fund for 1987 and 1986

AFMD-88-64: Published: Aug 26, 1988. Publicly Released: Aug 26, 1988.

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GAO examined the balance sheets of the House Recording Studio Revolving Fund and the related statements of operations and changes in financial position as of December 31, 1987 and 1986.

GAO found that the: (1) statements presented fairly the financial position of the fund, the results of its operations, and the changes in its financial position, in conformity with generally accepted accounting principles applied on a consistent basis; and (2) fund was in compliance with applicable laws and regulations for transactions that could have materially affected its financial statements.

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