Senate Preservation Fund: Audit of Fiscal Years 2011 and 2012 Transactions Page: 3 of 14
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Background
In 1988, the Commission was authorized to supervise, hold, place, protect, and make known all
works of art, historical objects, and exhibits in the Senate wing of the Capitol and Senate office
buildings and in all rooms, spaces, and corridors thereof.4 The Commission is made up of five
U.S. Senators-the President Pro Tempore of the Senate, the Majority and Minority leaders of
the Senate, and the Chairman and Ranking Member of the Senate Committee on Rules and
Administration.
In September 2003, the Fund was established within the Treasury and appropriated-by
transfer from the contingent fund of the Senate-$500,000 in initial funding. The Fund is
available to the Commission to pay for expenses associated with
* acquisition of any work of art, historical object, document, or material related to historical
matters, or exhibit for placement or exhibition within the Senate wing of the Capitol and
Senate office buildings;
* official activities of any advisory board established by the Commission pursuant to Public
Law 108-83, including actual and necessary expenses incurred in the performance of its
official duties;
* meals and refreshments, subject to limitation, in connection with official activities of the
Commission; and
* any purposes for which funds from the contingent fund of the Senate may be used pursuant
to Public Law 101-302, as amended (2 U.S.C. 2107).
On behalf of the Commission, the Commission's Executive Secretary and staff provide
operational support and assistance for activities financed by the Fund, including managing and
overseeing the authorization, approval, and processing of operating disbursements and
amounts received by the Commission for deposit to the Fund. The Executive Secretary is
responsible for ensuring that (1) Fund transactions are authorized, supported by documentation,
and in accordance with applicable law and (2) related operating practices and internal controls
are established and followed.5
Pursuant to Public Law 108-83, the Library is to provide financial management and disbursing
services and support to the Commission as may be required and mutually agreed to by the
Librarian of Congress and the Commission's Executive Secretary.6 The Library's principal
services and support include the purchase and redemption of Treasury securities with funds not
needed for immediate withdrawal, the processing of receipt and disbursement transactions, and
the development and maintenance of the Fund's accounting records and related support. The
4See 2 U.S.C. 2101-2108.
5Federal internal control standards recognize that an entity's management is responsible for designing
and implementing appropriate internal controls to achieve objectives related to (1) the effectiveness and
efficiency of operations, including the use of resources; (2) the reliability of internal and external financial
reporting; and (3) compliance with applicable laws and regulations. Further, an entity's management is to
safeguard assets and design related internal controls to provide reasonable assurance regarding the
prevention or prompt detection of unauthorized acquisition, use, or disposition of assets. An entity's
management is also responsible for monitoring and evaluating the effectiveness of the internal control.
See GAO, Standards for Internal Control in the Federal Government, GAO/AIMD-00-21.3.1 (Washington,
D.C.: November 1999).
62 U.S.C. 2108(c)(5).GAO-13-490R Senate Preservation Fund
Page 3
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United States. Government Accountability Office. Senate Preservation Fund: Audit of Fiscal Years 2011 and 2012 Transactions, text, May 1, 2013; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc303095/m1/3/: accessed April 23, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.