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GAO-02-43R 1 (2001-10-22)

handle is hein.gao/gaocrptanym0001 and id is 1 raw text is: SGAO Accountability * Integrity * Reliability United States General Accounting Office Washington, DC 20548 October 22, 2001 The Honorable Ernest F. Hollings Chairman The Honorable John McCain Ranking Minority Member Committee on Commerce, Science, and Transportation United States Senate The Honorable Don Young Chairman The Honorable James L. Oberstar Ranking Democratic Member Committee on Transportation and Infrastructure House of Representatives Subject: Financial Management: Audit of the Centennial of Flight Commission The Centennial of Flight Commission was created on November 13, 1998, by the Centennial of Flight Commemoration Act (Public Law 105-389, as amended by Public Law 106-68). The purpose of the Commission is to provide recommendations and advice to the President, the Congress, and federal agencies on the most effective ways to encourage and promote national and international participation and sponsorships in commemoration of the centennial of powered flight. We are required by the act to audit the financial transactions of the Commission. This report presents the results of our audit for the fiscal years ended September 30, 2000 and 1999. Results in Brief We found that all 45 of the Commission's recorded financial transactions for fiscal years 2000 and 1999 obligations and expenditures were supported by documentation that was approved by management. The Commission recorded no donations, user fees, or in-kind donations for fiscal years 2000 and 1999. We found that the Commission's obligations exceeded its fiscal year 2000 appropriation of $600,000 by $29,729. The Commission's lack of a reconciliation process between the records used by the Commission to track obligations and expenditures and the accounting records maintained by the Federal Aviation GAO-02-43R Centennial of Flight Commission

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