B-114820, MAR. 25, 1965

B-114820, MAR. 25, 1965

TO THE BOARD OF TRUSTEES, GOVERNMENT SERVICES, INC.:

THE GENERAL ACCOUNTING OFFICE HAS MADE AUDITS, PURSUANT TO YOUR REQUEST, OF GOVERNMENT SERVICES, INC.--- A PRIVATE, DOMESTIC, NON STOCK, NON-PROFIT -SHARING MEMBERSHIP CORPORATION--- AND OF THE CORPORATION'S EMPLOYEE RETIREMENT AND BENEFIT TRUST FUND AND SUPPLEMENTAL PENSION PLAN FOR THE YEAR ENDED DECEMBER 31, 1964.

THESE AUDITS INCLUDED AN EXAMINATION OF (1) THE CORPORATION'S STATEMENT OF ASSETS AND LIABILITIES AS OF DECEMBER 31, 1964, AND RELATED STATEMENT OF INCOME FOR THE YEAR THEN ENDED AND (2) THE CORPORATION'S EMPLOYEE RETIREMENT AND BENEFIT TRUST FUND AND SUPPLEMENTAL PENSION PLAN STATEMENT OF ASSETS, LIABILITIES, AND EMPLOYEES' EQUITY AS OF DECEMBER 31, 1964, AND RELATED STATEMENT OF CHANGES IN THE FUNDS FOR THE YEAR THEN ENDED. THESE EXAMINATIONS WERE MADE IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS AND INCLUDED SUCH TESTS OF THE ACCOUNTING RECORDS AND OTHER AUDITING PROCEDURES AS WE CONSIDERED NECESSARY IN THE CIRCUMSTANCES.

GOVERNMENT SERVICES, INC.

IN OUR OPINION, THE ACCOMPANYING FINANCIAL STATEMENTS (SCHEDULES 1 AND 2) PRESENT FAIRLY THE FINANCIAL POSITION OF GOVERNMENT SERVICES, INC., AT DECEMBER 31, 1964, AND THE RESULTS OF ITS OPERATIONS FOR THE YEAR THEN ENDED, IN CONFORMITY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES APPLIED ON A BASIS CONSISTENT WITH THAT OF THE PRECEDING YEAR.

EMPLOYEE RETIREMENT AND BENEFIT TRUST FUND

AND

SUPPLEMENTAL PENSION PLAN

IN OUR OPINION, THE ACCOMPANYING FINANCIAL STATEMENTS (SCHEDULES 3, 4, AND 5) PRESENT FAIRLY THE FINANCIAL POSITIONS OF THE EMPLOYEES RETIREMENT AND BENEFIT TRUST FUND AND OF THE SUPPLEMENTAL PENSION PLAN AT DECEMBER 31, 1964, AND THE CHANGES IN THE RETIREMENT AND PENSION FUNDS FOR THE YEAR THEN ENDED, IN CONFORMITY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES APPLIED ON A BASIS CONSISTENT WITH THAT OF THE PRECEDING YEAR.