HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.
![handle is hein.gao/gaobaaxts0001 and id is 1 raw text is:
DOCUMENT! PESMU
06813 - [B22272591
Audit of the House Recording Studio Revolving Pund fcr the
Fiscal Year Ended March 31, 1978. GGE-78-90; P-10.ie82. August 8,
1978. 4 pp. + 3 enclosures (4 pp.).
Report to Edmund L. Henshaw, Jr., House of Representatives:
Clerk of tho House; 4 21-aor B. Stasts, Comptrclier General.
Issue Area: Accounting and Financial Reporting: Operaticns,
Financial Positior, and Changes (2802).
Contact: General Government Div.
Budget Function: General Government: Legislative In ticks
(801).
Organization Concerned: House of Representatives: Recording
Studio.
Congressional Relevance. House Committee ca Rouse
Administration.
Authority: Legislative Branch Apprcp.iation Act [of] 19E7 (2
U.S.C. 123b). H. ees. 2e7 (95th Cong.).
Operations of the House Recording Studio are financed
from a revolving fund and from funds appropriated tc the Clerk
of the House. Honeys received from ojerations are deposited into
-he revolving fund and are available for the Studio's c~eratioz.
Employee salaries and benefits and certain other operatirg
expenses are paid from appropriated funds. House Resolution 287
prohibited Members from maintaining an i:nofficial cffic account
to defray expenses incurred in the oFeration of a congressional
office, including expenses for recording studic services. It
restructured the allowance for official expenses outside the
District of Columbia to provide funds for embers0 official
expenses and increased the annual allowance for expenses fiom
$2,000 to $7,000. Findings/Conclusicns: Accounts receivable
from Members amounted to $27,651 at March 31, 1978, a decrease
of $1,572 from the amount zeceivable at March 31. 1S77. Ihere
was a total of $97,744 in equipment additions, $75,557 in
equipment deductions, and a total balance for equipment cf
$1,112,365 at the end of the period. The ccmparative statement
of revolving fund operations for the fiscal years (FTs) ended
March 3., 1978, and March 31, 1977, showed that revenues
exceeded costs by $45,163 for FY 1978, compared with $2,154 for
F! 1977. The higher Studio earnings during the FY eLded larch
31, 1978, was primarily attributed to increased sales ard lower
operating costs as a percentage of sales. The Studio's
accounting records, which were maintained on a cash basis, were
adjusted to present the financial position and results cf the
revolving fuud operations on an a,.crual basis. The financial
statements presented fairly the financial position of the
revolving fund for the periods examined, the results of Studio
eperations, and the changes in financial positions for these
periods on a basis consistent with that of precediug years.
(HTV)](ViewImageLocal?handle=hein.gao/gaobaaxts0001&div=1&collection=&method=preview&ext=.png&size=3)