Financial Audit: U.S. Senate Health Promotion Revolving Fund for the
Periods Ended 9/30/93 and 12/31/92 (Letter Report, 05/03/95,
GAO/AIMD-95-105).
GAO audited the financial statements of the Senate Health Promotion
Revolving Fund for the periods ended September 30, 1993, and December
31, 1992, and the related statements of revenues, expenses, and cash
flows. The Office of Senate Health Promotion provides health promotion
education and classes, such as aerobics and weight loss programs, for
Senate employees on a fee basis. GAO found that the financial
statements were reliable in all material respects; internal controls
reasonably ensured that losses, noncompliance with laws and regulations,
and misstatements affecting the financial statements would be prevented
or detected; and there was no material noncompliance with laws and
regulations.
--------------------------- Indexing Terms -----------------------------
REPORTNUM: AIMD-95-105
TITLE: Financial Audit: U.S. Senate Health Promotion Revolving
Fund for the Periods Ended 9/30/93 and 12/31/92
DATE: 05/03/95
SUBJECT: Internal controls
Financial records
Compliance
Revolving funds
Funds management
Fund audits
Financial statement audits
Financial management
Accounting procedures
Legislative bodies
IDENTIFIER: Senate Health Promotion Revolving Fund
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Cover
================================================================ COVER
Report to the Sergeant at Arms,
U.S. Senate
May 1995
FINANCIAL AUDIT - U.S. SENATE
HEALTH PROMOTION REVOLVING FUND
FOR THE PERIODS ENDED 9/30/93 AND
12/31/92
GAO/AIMD-95-105
Senate Health Promotion Revolving Fund
Abbreviations
=============================================================== ABBREV
Letter
=============================================================== LETTER
B-259568
May 3, 1995
The Honorable Howard O. Greene, Jr.
Sergeant at Arms
United States Senate
Dear Mr. Greene:
As your predecessor requested, we audited the accompanying statements
of financial position of the Senate Health Promotion Revolving Fund
as of September 30, 1993, and December 31, 1992, and the related
statements of revenues and expenses and cash flows for the 9 months
ended September 30, 1993, and for the year ended December 31, 1992.
We found
the financial statements were reliable in all material respects;
internal controls in effect on September 30, 1993, and December 31,
1992, provided reasonable assurance that losses, noncompliance with
laws and regulations, and misstatements material to the financial
statements would be prevented or detected; and
no material noncompliance with laws and regulations we tested for the
9 months ended September 30, 1993, and for the year ended December
31, 1992.
The following sections outline each conclusion in more detail and
discuss the scope of our audits.
OPINION ON FINANCIAL STATEMENTS
------------------------------------------------------------ Letter :1
The financial statements and accompanying notes present fairly, in
conformity with generally accepted accounting principles, the
Revolving Fund's
assets, liabilities, and government equity;
revenues and expenses; and
cash flows.
As discussed in notes 1 and 3, the financial statements present the
results of activities financed through the Senate Health Promotion
Revolving Fund and are not intended to present the financial position
and results of operations of the Office of Senate Health Promotion as
a whole. Other significant identifiable costs, such as employee
salaries and benefits, which are financed by appropriated funds, are
not included in the financial statements, but are disclosed in note
3. Also, the statements do not include such costs as space and
utilities, which are not readily identifiable.
OPINION ON INTERNAL CONTROLS
------------------------------------------------------------ Letter :2
The internal controls we evaluated were those designed to
safeguard assets against loss from unauthorized use or disposition;
assure the execution of transactions in accordance with laws and
regulations; and
properly record, process, and summarize transactions to permit the
preparation of financial statements and to maintain accountability
for assets.
Those controls in effect on September 30, 1993, and December 31,
1992, provided reasonable assurance that losses, noncompliance, or
misstatements material to the financial statements would be prevented
or detected.
COMPLIANCE WITH LAWS AND
REGULATIONS
------------------------------------------------------------ Letter :3
Our audit tests for compliance with selected provisions of laws and
regulations disclosed no material instances of noncompliance for the
9 months ended September 30, 1993, and for the year ended December
31, 1992. Also, nothing came to our attention in the course of our
other work to indicate that material noncompliance with such
provisions occurred.
OBJECTIVES, SCOPE, AND
METHODOLOGY
------------------------------------------------------------ Letter :4
Management is responsible for
preparing annual financial statements in conformity with generally
accepted accounting principles,
establishing and maintaining internal controls to provide reasonable
assurance that the internal control objectives mentioned above are
met, and
complying with applicable laws and regulations.
We are responsible for obtaining reasonable assurance about whether
(1) the financial statements are reliable (free of material
misstatement and presented fairly in conformity with generally
accepted accounting principles) and (2) relevant internal controls
are in place and operating effectively. We are also responsible for
testing compliance with selected provisions of laws and regulations.
In order to fulfill these responsibilities, we
examined, on a test basis, evidence supporting the amounts and
disclosures in the financial statements;
assessed the accounting principles used and significant estimates
made by management;
evaluated the overall presentation of the financial statements;
evaluated and tested relevant internal controls which encompassed the
following areas: treasury, revenues, expenditures, and financial
reporting; and
tested compliance with selected provisions of Section 4 of the
Legislative Branch Appropriations Act, 1990, as amended, 2 U.S.C.
121c (Supp. V 1993); 2 U.S.C. 68; and regulations for the Office of
Senate Health Promotion.
We limited our work to accounting and other controls necessary to
achieve the objectives outlined in our opinion on internal controls.
Because of inherent limitations in any system of internal control,
losses, noncompliance, or misstatements may nevertheless occur and
not be detected. We also caution that projecting our evaluation to
future periods is subject to the risk that controls may become
inadequate because of changes in conditions or that the degree of
compliance with controls may deteriorate.
We performed our work in accordance with generally accepted
government auditing standards. We completed our audit work on March
1, 1995.
Sincerely yours,
Charles A. Bowsher
Comptroller General
of the United States
FINANCIAL STATEMENTS
=========================================================== Appendix 0
Statements of Financial
Position
(See figure in printed
edition.)
Statements of Revenues and
Expenses
(See figure in printed
edition.)
Statements of Cash Flows
(See figure in printed
edition.)
Notes to Financial Statements
(See figure in printed
edition.)
(See figure in printed
edition.)