Financial Audit:

House Recording Studio Revolving Fund for 1988 and 1987

AFMD-89-77: Published: Jun 29, 1989. Publicly Released: Jun 29, 1989.

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Pursuant to a congressional request, GAO examined the House of Representatives Recording Studio Revolving Fund's balance sheets and related statements of operations and cash flow for the years ended December 31, 1988 and 1987.

GAO found that the: (1) financial 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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