Audit of the Senate Recording Studio Revolving Fund for the Fiscal Year Ended March 31, 1978
GGD-78-86: Published: Aug 3, 1978. Publicly Released: Aug 3, 1978.
- Full Report:
The Senate Recording Studio is operated by the Sergeant at Arms of the Senate under the direction and control of the Senate Committee on Rules and Administration. The studio makes film, video tape, and audiotape recordings for the Vice President, senators, and committees of the Senate. Studio operations are financed from a revolving fund and from funds appropriated to the Secretary of the Senate. All moneys received from operations are deposited into the revolving fund and are available for operation of the studio. Employee salaries and benefits and other operating expenses are paid from appropriated funds.
A review of the Senate Recording Studio's accounting records and financial transactions was conducted in accordance with the Comptroller General's standards for auditing financial transactions, accounts, and reports of governmental activities. During fiscal year 1978, costs exceeded revenues by $12,374, a decrease of $27,271 over the excess costs for the period ended March 31, 1977. The primary cause of the decrease in costs over revenue was an increase in sales of about 25 percent. The financial statements, which were prepared on a basis consistent with that of the previous year, present fairly the financial position of the Senate Recording Studio Revolving Fund at March 31, 1978 and 1977, the results of its operations, and the changes in its financial position for the periods then ended.