Report to Congress: Examination of Financial Statements of Federal Prison Industries, Inc., Fiscal Year 1969 |
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$0.7 million less accepted accounting principles accounting practice adjustments affecting prior amount as paid assist inmates Atlanta audit Buildings and improvements change in accounting conducts a vocational conducts industrial operations corporation also conducts corporation at June corporation conducts industrial Corporation Control Act Depreciation dividend of $5 El Reno employment for physically ENDED JUNE 30 FEDERAL PRISON INDUSTRIES financial statements fiscal year 1969 FISCAL YEARS ENDED Fort Leavenworth give the inmates Government agencies totaled Government Corporation Control income at June income since inception industrial operations established inmates in connection inmates in obtaining institutions is determined investment of U.S. La Tuna Leavenworth Lewisburg Lompoc Machinery and equipment McNeil Island operates a placement physically fit inmates preceding year--except profit of $9.5 reducing retained income reduction representing adjustments affecting sales to Government skill in trades sources and application Terminal Island Terre Haute Texarkana totaled about $47.5 Treasury during fiscal U.S. Government U.S. Treasury
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Page 4 - Our examination was made in accordance with generally accepted auditing standards and included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.