Audit of Financial Transactions of the Sergeant at Arms for the 12 Months Ended June 30, 1978

GGD-79-1: Published: Oct 18, 1978. Publicly Released: Oct 18, 1978.

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The Sergeant at Arms, as fiscal officer of the House of Representatives, disburses funds appropriated for compensation of Members, mileage of Members, and gratuities to widows, widowers, or heirs of deceased Members. He also maintains an operation referred to as the "House Bank."

Assets and liabilities for which the Sergeant at Arms was accountable at December 31, 1977, and June 30, 1978, totaled $24,450,063.16 and $10,750,927.20, respectively. Exchange items on hand amounting to $37,215.04 at December 31, 1977, and $195,846.13 at June 30, 1978, represented checks drawn on other banks and cashed for Members and employees of the House on the last business day of each 6-month period. The total amount of checks cashed by the Sergeant at Arms during the 12 months ended June 30, 1978, was $11,530.35 less than the amount cashed in fiscal year 1977, a decrease of 0.04%. During this period, banks returned to the Sergeant at Arms checks totaling $57,905.56. The Sergeant at Arms said he maintains control over each returned check until it is liquidated, and no losses have occurred under this control. Amounts due from Members represented checks drawn on and cashed or paid by the Sergeant at Arms but not charged to Members' accounts. Such items are monitored daily, and no losses have occurred. Teller shortages were offset in part by overages, resulting in a net shortage of $306.73 at June 30, 1978. The financial statements presented fairly the financial position and accountability of the Sergeant at Arms and the financial transactions for periods examined. (HTW)

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