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![handle is hein.gao/gaobaabvl0001 and id is 1 raw text is:
DOCUMENT RESUME
00298 - Ek10518561
audit of the Minority Printing Clerk, Fiscal Years Ended
September 30, 1974, 1975# and 1976. GGD-77-41; B-164163. March
31t 1977. 8 pp.
Report to the Congress; by Blmer B. Staats. Comptroller General.
Issue Area: accounting and Financial Reporting (2800).
Contact: General Government Div.
Budget Function: General Government: Central Fiscal Operations
(803).
organization Concerned: Thomas J. Lankford, Inc.
Conqreazional Relevance: House Committee on House
kdaisistration; Senate Committee on Rules and
Administration; Congress; House of Representatives: Minority
Printing Clerk.
Authority: Legislative Pranch Appropriation Act [of] 1945 (58
Stat. 343).
The Minority Printing Clerk is appointed by the
minority Leader and receives an annual salary ftcm appropriated
funds. The Clerk operates as Thomas J. Lankfcrd, Inc., a firm
organized in 1963, primarily to provide printing and related
ser:ice for members of the House of Representatives.
Findingi/Conclusions: Financial statements were examined for
fiscal years ended September 30, 1974, 1975, and 1976. The
Comparative Statement of Finan,7ial Conditicu shoved asset?,
(including c-rrent assets, investment, and fixed assets),
liabilities, and stockholder's equity. Total assets and
liabilities plus stockholder's equity were balanced at
$467g916.59 for 1976, $354,538.28 for 1975, and $457,045.65 for
1974. Other statements examined were the Comparative Statement
of income and Expense, and the Comparative Statement of
changes in Ainancial Position. A summary of significant
accounting policies stated that books are maiutained on a cash
basis throughout the fiscal year and converted tc an accrual
basis at the end of the year. It also described depreciation
methods, and inclusion of inventory and investment tax credit.
The income and expense statement included costs cf printing
services supplied to the minority leadership at no charge but
did not include costs of certain benefits and services nor the
Clerk's annual salary. The statements were fcund to be
consistent with those of preceding years and to present the
financial position fairly. (HTW)](ViewImageLocal?handle=hein.gao/gaobaabvl0001&div=1&collection=&method=preview&ext=.png&size=3)