Breakdown of District Revenue

AIMD-94-139: Published: Jul 11, 1994. Publicly Released: Jul 11, 1994.

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Pursuant to a legislative requirement, GAO reviewed an audit of the District of Columbia's breakdown of revenue derived from the federal government and other sources for the fiscal year (FY) ended September 30, 1993.

GAO found that: (1) the District's reported revenue from federal and other sources for the FY ended September 30, 1993 was fairly presented in all material respects in accordance with generally accepted accounting principles; (2) there were no material discrepancies to indicate that the auditors' opinion was inappropriate or unreliable; (3) in February 1994, the District's Mayor presented an unaudited total of about $2.929 billion in local revenues for FY 1993 to be used as a basis to calculate the FY 1995 federal payment authorization amount; (4) the District's total local revenues were adjusted to about $2.892 billion by the District's Controller to conform with the schedule of local revenue for FY 1993; (5) the District's audited total was overstated because it included certain revenues in its audit schedule which were not provided for in congressional directives; (6) if congressional directives had been followed, revenues of about $2.797 billion would have been reported as the calculation base; (7) about $172.8 million in taxes were added to the District's FY 1993 revenue even though these taxes did not generate additional cash because the District changed the legal definition of the real property tax year; and (8) the FY 1995 federal payment authorization should be increased by approximately $41 million under the payment formula.

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