Financial Audit

Food and Nutrition Service's Financial Statements for Fiscal Years 1988 and 1987 Gao ID: AFMD-91-3 December 21, 1990

GAO examined the Food and Nutrition Service's (FNS): (1) financial statements for the fiscal years ended September 30, 1988 and 1987; (2) internal control system; and (3) compliance with laws and regulations.

GAO found that: (1) FNS did not adequately monitor states' control of food coupons; (2) the FNS financial reporting process failed to produce reliable results; (3) FNS year-end reports to the Department of the Treasury were inaccurate; (4) FNS did not adjust its accounting records for the value of food coupons returned to inventory; and (5) the statements of financial position as of September 30, 1988 and 1987 and the related statements of operations and changes in funds with the Treasury for the year ended September 30, 1988, presented fairly the FNS financial position in conformity with generally accepted accounting principles.

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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