Summary:
What GAO Found
GAO found that recorded cash receipts and disbursements of the Senate Gift Shop Revolving Fund (Fund) for fiscal year 2014 were accurate and supported by documentation approved by authorized management. In addition, GAO found that cash disbursements for fiscal year 2014 were consistent with the purpose of the Fund. Specifically, GAO found that cash receipts were (1) accurately recorded in the daily and weekly cash reports as well as the Senate Gift Shop's general ledger and agreed to the weekly deposit with the Senate Disbursing Office and (2) approved by authorized management per the Senate Gift Shop's policies and procedures.
GAO also found that cash disbursements from the Fund were (1) accurately recorded in the general ledger and monthly Senate Disbursing Office reports; (2) supported by purchase orders, receiving reports, invoices, and other documents approved by authorized management, as applicable; and (3) to purchase inventory for resale and supplies and to pay for shipping and other related service expenses consistent with the purpose of the Fund.
GAO also found that the Senate Gift Shop complied with requirements of "Made in America" legislation as it applied to sample items for goods sold in the Senate Gift Shop and safety requirements for sample items marketed to children and sold in the Senate Gift Shop.
In addition, GAO followed up on the status of the two audit recommendations from its fiscal year 2010 audit of the Fund and found that the Senate Gift Shop took corrective actions to sufficiently address them. Therefore, GAO considers both of these recommendations to be closed.
In commenting on a draft of this report, the Secretary of the Senate agreed with the draft report's results and conclusions.
Why GAO Did This Study
The Chairman and Ranking Member of the Senate Committee on Rules and Administration requested that GAO conduct an audit of the cash receipts and disbursements recorded in the Fund for fiscal year 2014.
For more information, contact J. Lawrence Malenich at (202) 512-9399 or malenichj@gao.gov
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