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GAO-01-892R 1 (2001-06-26)

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        Accountability * Integrity * Reliability
United States General Accounting Office
Washington, DC 20548





         June 26, 2001

         The Honorable F. James Sensenbrenner, Jr.
         Chairman, Committee on the Judiciary
         House of Representatives
         Subject: Federally Chartered Corporation: Review of the Financial Statement Audit
                   Report for the Aviation Hall of Fame for 1999 and 1998

         Dear Mr. Chairman:

         As requested, we reviewed the audit report covering the financial statements of the
         Aviation Hall of Fame, a federally chartered corporation, for the years ended
         December 31, 1999 and 1998. The corporation's purpose is to honor citizens, aviation
         leaders, pilots, and others for outstanding contributions to the establishment,
         development, advancement, or improvement of aviation, and to perpetuate the
         memory of them and record their contributions.

         Federally chartered corporations are required under 36 U.S.C. 10101 to

            present the corporation's assets and liabilities and reasonable detail on the
            corporation's income and expenses in annual financial statements,

            obtain an annual financial audit by an independent public accountant, and

            submit the auditors' report and the corporation's financial statements to the
            Congress.

         The objective of our review was to determine whether the audit report complied with
         the financial reporting requirements of the law. In carrying out our work, we
         reviewed the corporation's financial statements and the accompanying notes,
         performed certain analytical procedures related to information presented in the
         financial statements, reviewed the auditors' report, and made inquiries to corporation
         officials or the auditors as we deemed necessary. We did not review the auditors'
         working papers. Our review disclosed no reportable instances of noncompliance.


GAO-01-892R Aviation Hall of Fame

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