Federally Chartered Corporation: Review of the Financial Statement Audit
Report for the National Tropical Botanical Garden for 1998 and 1997
(Correspondence, 10/27/2000, GAO/GAO-01-168R).

GAO reviewed the financial statement audit reports for the National
Tropical Botanical Garden's for 1998 and 1997. GAO found no reportable
instances of noncompliance with the requirements of the law, and the
audit report included the auditor's opinion that the financial
statements of the corporation were presented fairly in accordance with
generally accepted accounting principles.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  GAO-01-168R
     TITLE:  Federally Chartered Corporation: Review of the Financial
	     Statement Audit Report for the National Tropical
	     Botanical Garden for 1998 and 1997
      DATE:  10/27/2000
   SUBJECT:  Audit reports
	     Financial statement audits
	     Federal corporations
	     Accounting standards
	     Reporting requirements
	     Financial records
	     Agricultural industry

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GAO-01-168R

National Tropical Botanical Garden

United States General Accounting Office Washington, DC 20548

October 27, 2000 The Honorable Henry J. Hyde Chairman, Committee on the
Judiciary House of Representatives

Subject: Federally Chartered Corporation: Review of the Financial Statement
Audit Report for the National Tropical Botanical Garden for 1998 and 1997

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the National Tropical Botanical Garden, a federally
chartered corporation, for the years ended December 31, 1998 and 1997. The
corporation's purpose is to establish, develop, operate, and maintain for
the benefit of the people an educational and scientific center in the form
of one or more tropical botanical gardens, and to foster and encourage
fundamental research about tropical plant life and research and study of
uses of tropical flora in agriculture, forestry, horticulture, medicine, and
other sciences.

Federally chartered corporations are required under 36 U. S. C. 10101 to

� present the corporation's assets and liabilities and reasonable detail on
the corporation's income and expenses in annual financial statements,

� obtain an annual financial audit by an independent public accountant, and

� submit the auditors' report and the corporation's financial statements to
the Congress.

The objective of our review was to determine whether the audit report
complied with the financial reporting requirements of the law. In carrying
out our work, we reviewed the corporation's financial statements and the
accompanying notes, performed certain analytical procedures related to
information presented in the financial statements, reviewed the auditors'
report, and made inquiries to corporation officials or the auditors as we
deemed necessary. We did not review the auditors' working papers. Our review
disclosed no reportable instances of noncompliance.

GAO- 01- 168R National Tropical Botanical Garden Page 2 The audit report
included the auditors' opinion that the financial statements of the

corporation were presented fairly in accordance with generally accepted
accounting principles. We are returning the audit report you sent with your
letter.

Sincerely yours, Jeffrey C. Steinhoff Managing Director Financial Management
and Assurance

Enclosure (912011)
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