Audit of the House of Representatives Restaurant Revolving Fund October 8, 1978, to October 6, 1979

GAO audited the House of Representatives Restaurant Revolving Fund for the period October 8, 1978, to October 6, 1979. The audit reviewed operations and applicable federal laws, observed the physical count of stock on hand, examined selected financial transactions and records, confirmed Members' account balances, and carried out such other auditing procedures as considered necessary. GAO also reviewed sales revenues from the Restaurant which are deposited in the U.S. Treasury and credited to the House Restaurant Revolving Fund for use in operating the Restaurant.

GAO found that, for the fiscal year ended October 6, 1979, the House Restaurant's net income was $315,799. The net income for fiscal year ended October 7, 1978, was $11,856. Moreover, analysis of operating results for the two fiscal years showed a substantial improvement in food operations. This increase was due primarily to increased income of about $194,300 from Rayburn catering operations as a result of increased sales and reduced labor costs, and a reduction in the loss from operating the congressional restaurant and Members' Dining Room of about $64,500 as a result of better control over labor costs and closing these facilities during recess periods. However, net income from tobacco stand sales decreased as a result of lower sales.

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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