District of Columbia Revenue Breakdown
AFMD-93-88: Published: Jun 14, 1993. Publicly Released: Jun 14, 1993.
- Full Report:
Pursuant to a legislative requirement, GAO reviewed the independent audit of the District of Columbia's revenue breakdown for the year ended September 30, 1992. In addition, GAO provided an analysis of two categories of funds deducted from the District's general fund local revenues in calculating the local revenue base and reported as nonappropriated charges for services and miscellaneous revenue.
GAO found that: (1) the District's report of total revenue derived from all sources for the year ended September 30, 1992, is fairly presented in all material respects in accordance with generally accepted accounting principles; (2) there were no material discrepancies in the District's financial report; (3) about $8.7 million of federal revenue had been misclassified as local source revenue; (4) the District reported total local revenues for fiscal year (FY) 1992, but these revenues included funds from sources not provided for in determining the District's local revenue base; (5) the District's local revenue base for FY 1992 was $2.6 billion; and (6) the District has engaged independent auditors to audit the two categories of funds deducted from general revenues, but preliminary information shows that about $95 million of the $162 million is from local sources.