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The United States General Accounting Office GAO December 1997 Report to Congressional Committees and Subcommittees_part4

tài liệu học kế toán kiểm toán căn bản có thể sử dụng kiểm toán một cách hiệu quả trong môi trường làm việc hàng ngày .Tài liệu cập nhật đầy đủ nội dung kiến thức. Mời các thầy cô và các bạn tham khảo | Appendix I Comments From the District of Columbia Note GAO comments supplementing those in the report text appear at the end of this appendix. GOVERNMENT OF THE DISTRICT OF COLUMBIA Chief Financial Officer Anthony A. Williams See comment 1 Mr. Gene L. Dodaro Assistant Comptroller General Accounting and Information Management Division General Accounting Office 441 G Street N.w. Washington D.c. 20546 Dear Mr. Dodaro I am in receipt of a copy of the draft financial audit of the District of Columbia s Highway Trust Fund 1996 Financial Statements and listed below are comments related to the material weaknesses described in that report. Capital Appropriated Expenditures Inadequate support for 3.4 million year-end closing adjustment. In FY 1996 3.4 million in capital grant funded expenditures were adjusted to match revenues recognized for that current fiscal year. These adjustments resulted from spending and revenue activity that occurred over the last five to ten fiscal years. Listed below are the general reasons for the cost reclassification how adjusting entries were recorded and other mitigating factors 1 In fiscal year 1996 the District requested approval from the Federal Highway Administration FHWA to recover 2.6 million in construction engineering CE cost overruns by aggregating CE costs annually at the program level and allowing CE cost overruns to be netted against CE underruns. The Federal Highway Administration did not grant approval for the District s request until July 1997. Therefore the CE overruns in fiscal year 1996 were included as part of the year-end closing adjustment charged to the capital appropriation . Of the 2.6 million in CE overruns 1.7 million was collected during fiscal year 1997 as a result of increases in grant awards. 2 The federal grant finalization audit internal of disbursements charged to completed grants is performed after final contract payments have been disbursed. The audit may result in additional .