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GAO-15-786R 1 (2015-09-09)

handle is hein.gao/gaobaajfm0001 and id is 1 raw text is: GAOU.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 September 9, 2015 The Honorable Roy Blunt Chairman The Honorable Charles E. Schumer Ranking Member Committee on Rules and Administration United States Senate Senate Gift Shop Revolving Fund: Audit of Fiscal Year 2014 Cash Receipts and Disbursements The Senate Gift Shop was established in 1992 to sell gift items to members of the Senate, Senate staff, and the general public. All sales receipts are taken to the Senate Disbursing Office for deposit into the Senate Gift Shop Revolving Fund (Fund). The Senate Gift Shop then uses the cash receipts to purchase inventory items for resale and supplies and to pay for shipping and other related service expenses.1 The Senate Disbursing Office makes disbursements on behalf of the Fund. On April 8, 2015, you requested that we conduct an audit of the cash receipts and cash disbursements recorded in the Fund for fiscal year 2014. This report presents the results of our audit of the Senate Gift Shop's cash receipts and disbursements as recorded in the Fund during fiscal year 2014. In summary, we found that recorded cash receipts and disbursements of the Senate Gift Shop for fiscal year 2014 were accurate and supported by documentation approved by authorized management. In addition, we found that cash disbursements for fiscal year 2014 were consistent with the purpose of the Fund. Objective, Scope, and Methodology Our objective was to determine whether recorded cash receipts and disbursements for the Fund for fiscal year 2014 were accurate and supported by documentation approved by authorized management, and whether recorded cash disbursements for the Fund for 2014 were consistent with the purpose of the Fund. To achieve our audit objective, we reviewed the Senate Gift Shop's cash receipt and disbursement policies and procedures and verified our understanding through meetings with Senate Gift Shop staff. Based on the policies and procedures, we then developed data collection instruments to test cash receipts and disbursements. We used statistical sampling to audit the Senate Gift Shop's approximately $1.2 million of cash receipts and $550,000 of cash disbursements recorded in the Fund for fiscal year 2014. For our sample of cash receipts, we verified the daily amounts of cash receipts from cash registers and other sources of revenue (e.g., credit card reports, checks, and sales on account) and agreed the 1Salaries and benefits of Senate employees who work in the Senate Gift Shop are not paid from the Fund; rather, they are paid from the Salaries, Officers, and Employees appropriation account of the Senate. Additional costs of the Senate Gift Shop, such as rent and utilities, cannot be readily determined and are covered by funds appropriated to the Architect of the Capitol. GAO-1 5-786R Senate Gift Shop Revolving Fund Page 1

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