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GGD-78-65 1 (1978-06-09)

handle is hein.gao/gaobaaxkz0001 and id is 1 raw text is: DC'7UEINT UESUal 06245 - CB16466631 Audit of the House of Representatives Bestazrant Revolving Fund, July 4, 1976. to October 8, 1977. GCD-78-65; B-114891. June 9, 1978. 8 pp. + 5 enclosures (11 pp.). RepoLt to Rip. Frank Thompson, Jr., Chairman, House Committee on House Administration; by Robert F. Keller, Acting Comptroller General. Issue Area: Accounting and Financial Reporting: Operaticts, financial Position, and Changep (2802). Contact: General Government iv. Budqet Function: General Government: Legislative Fencticts (801). Orqanization Concerned: mouse of Representatives: House Restaurant. Congressional Belevacce: House Committee on House Administration; congress. Rep. Frank !hcreson, Jr. Authority: P.L. 92-51. H. Ros. 317 (92ad Cung.). 'he Hoese of Representatives Restauramt is operated primarily for Hembers and employees of the House. Its sales revenues are depositel in the Treasary and credited to the House Restaurant Revolvinq Fund for use in operating the restaurant. Findinqs/Conclusions: For the 15-mon.h poriod ended Octoker 8, 1977, the restp.urant's net income was $72,281, consisting a net lcss of $38,603 during the 3-month transition period (July 4 to october 9, 1976) and net income at $110,8e4 during fiscal year (FY) 1977. The net incrse in FY 1976 was $534. During 1! 1977, the number of customers served increased ty akout 6% over 1976. There was a siqnificant improvement in both food &ad totaco operations for the two F1s. As a result of GAC's FT 1976 repoite controls were improved over congressicnal and fiesekets restaurant quest checks, restaurant cash receipts, and the use of the petty cash fund. However, improvement is still needed in cash deposit procedures and in analysis cf tableware and kitchenware replacement expenses. During the previous 4 years, accounts receivable have shown steady annual increases averaging 3e%. In FY 1977, the accounts receivable decreased by 26.15. As of September 30, 1977, 21.7% was outstanding over 60 days compared with 25.5% at June 30, 1976. The financial statements present fairly the financial position of the revolving fund at October 8, 1977, and July 3, 1976, and the results cf its operations and chanqes in its financial position for the periods then ended. Recommendations: The Committee on House Administration should require cashiers to give customers cash reqister receipts and the restaurant administrative officer to be responsible for developing and conducting a systematic surprise cash count program. The restaurant administrative officer should analyze the cash flow at each cashier station and have the chanqc fund transferred tc the House Finance Gffice, The accounting office should reinstitute the monthly cash

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