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GGD-77-81 1 (1977-08-24)

handle is hein.gao/gaobaavww0001 and id is 1 raw text is: DOCUMENT RESUME 03121 - rA24135401 (Restricted) Audit of the House Recording Studio Revolving Fund for the Fiscal Year Ended March 31, 1977. GGD-77-81; B-114842. August 24, 1977. 5 pp. + 3 enclosures (5 pp.. Report to Edmund L. Henshaw, Jr., House of Representatives: Clerk of the House; by Robert F. Keller, Acting Comptroller General. Issue Area: Accounting and Financial Reporting (2800). Contact: General Government Div. Budget Function: General Government: Legislative Functions (801). Congressional Relevance: House Committee on House Administration. Authority: Legislative Branch Appropriation Act [ofl 1957, sec. 105 (2 U.S.C. 123b). H. Res. 287 (95th Cong.). The House Recording Studio, operated under the jurisdiction of the Clerk of the House of Representatives and subject to the direction and control of the Committee on the House Recording Studio, makes film and audio tape and video tape recordings for Members and committees of the House of Representatives. Studio operations are financed from a revolving fund and from funds appropriated to the Clerk of the House. All moneys received from operations are deposited into the revolving fund and are available for the Studio's operation. Employee salaries and benefits and certain other operating expenses are paid from appropriated funds. These expenses are not recorded in the Studio's accounting records or included in the results of Studio operations. Before the 95th Congress, expenses for recording studio services were not covered by any of the allowances provided Members. Findings/Conclusions: A comparative statement of the revolving fund operations for fiscal year ended March 31, 1977, and the 9 months ended March 31, 1976, showed that revenues exceeded costs by S2,154 for fiscal year 1977, compared with $36,393 for the 9 month period. The lower Studio earnings during the later period can be primarily attributed to a sharp decline in average monthly sales and higher operating costs. The higher operating cost rate primarily resulted from increased depreciation charges due to the change in the accounting procedures and the additional expense pertaining to recent equipment acquisition. (SC)

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