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FINANCIAL AUDIT. Senate Restaurants Revolving Fund for Fiscal Years 2001 and 2000
GENERAL ACCOUNTING OFFICE WASHINGTON DC
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In our audit of the United States Senate Restaurants Revolving Fund the Fund for fiscal year 2001, we found the financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles, the Fund had effective internal control over financial reporting including safeguarding assets and compliance with laws and regulations, and no reportable noncompliance with laws and regulations we tested. The following sections discuss in more detail 1 these conclusions and 2 the scope of our audit. Opinion on Financial Statements The financial statements including the accompanying notes present fairly, in all material respects, in conformity with U.S. generally accepted accounting principles, the financial position of the Fund as of September 30, 2001 and the results of operations and cash flows for the year then ended. The financial statements of the Fund as of September 30, 2000 were audited by other auditors whose report dated January 12, 2001, expressed an unqualified opinion on those financial statements. As discussed in note 1, the financial statements present the financial positions and the results of activities financed through the Fund and are not intended to present the financial position and results of operations of the Senate Restaurants as a whole. Amounts for capital expenditures and related repairs and maintenance purchased by the Architect of the Capitol Architect for the benefit of the Fund are not reflected in the Funds financial statements. Also, the financial statements do not include such costs as space and utilities, which are not readily identifiable.
APPROVED FOR PUBLIC RELEASE