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AFMD-93-88 1 (1993-06-14)

handle is hein.gao/gaobabsoo0001 and id is 1 raw text is: A q ,7. United States General Accounting Office Wasington, D.C. 20548 Accounting and Financial Management Division B-247837 June 14, 1993 The Honorable Fortney H. (Pete) Stark Chairman, Committee on the District of Columbia House of Representatives The Honorable Jim Sasser Chairman, Subcommittee on General Services, Federalism and the District of Columbia 149422 Committee on Governmental Affairs United States Senate This report presents the results of our review of the independent certified public accountants' audit of the District of Columbia's breakdown of revenue derived from the federal government and other sources for the year ended September 30, 1992. The District of Columbia Budgetary Efficiency Act of 1991 (Public Law 102-102) requires us to review this breakdown and to report the results to your Committees. The revenue from sources other than the federal government serves as a basis for determining the authorized amount of the federal payment to the District of Columbia. The amount is determined using a formula specified in the act. RESULTS IN BRIEF In the auditors' opinion, the District of Columbia's revenue derived from federal and other sources as reported in its Comprehensive Annual Financial Report (CAFR) for the year ended September 30, 1992, is fairly presented in all material respects in accordance with generally accepted accounting principles. Our work, limited to a review of the District's-revenues reported in the CAFR, found no material discrepancies to indicate that the auditors' opinion was inappropriate or unreliable. We did find, however, that about $8.7 million of federal revenue was included in other local revenue sources. GAO/AFMD-93-88

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