Financial Audit

Food and Nutrition Service's Financial Statements for 1987 Gao ID: AFMD-89-22 March 15, 1989

GAO examined the Food and Nutrition Service's (FNS) financial statements for the fiscal year ended September 30, 1987.

GAO found that: (1) the statement of financial position presented fairly the FNS financial position as of September 30, 1987, in conformity with generally accepted accounting principles; (2) FNS failed to adjust the food stamp benefits issued and the related liability of undelivered coupons, resulting in a 70-percent increase in liability between 1984 and 1987, with no significant growth in program benefits over the same period; and (3) FNS did not effectively use its financial accounting and reporting system in preparing its financial reports.

Recommendations

Our recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.

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