FINANCIAL AUDIT: U.S. Senate Stationery Room Revolving Fund's Fiscal Year 2000 Financial Statement
Abstract
We have audited the accompanying Statement of Receipts, Disbursements, and Fund Balance for the Senate Stationery Room Revolving Fund for the fiscal year ended September 30, 2000. We found * the statement is presented fairly in all material respects; * although internal control should be improved, the Stationery Room had effective internal controls over financial reporting (including safeguarding assets) and compliance with laws and regulations; and * no reportable noncompliance with selected provisions of laws and regulations we tested. The following sections present each conclusion in more detail and discuss the scope of our audit. The Statement of Receipts, Disbursements, and Fund Balance and the accompanying notes present fairly, in conformity with the cash basis of accounting, the receipts, disbursements, and fund balance of the Stationery Room Revolving Fund for the fiscal year ended September 30, 2000. As described in note 2 of the accompanying statement, the cash basis of accounting is a comprehensive basis of accounting that recognizes transactions when cash is received and disbursed. This basis of accounting differs from U.S. generally accepted accounting principles, which recognize revenue when earned and expenses when incurred.
Document Details
- Document Type
- Technical Report
- Publication Date
- Dec 01, 2001
- Accession Number
- ADA397531
Entities
People
- Jeri Thomson
Organizations
- United States Government Accountability Office