General
Review of the State Preservation Board's Capitol Fund
August 2000
Report Number 00-044
Overall Conclusion
The State Preservation Board's (Board) fiscal year 2000 annual report on the Capitol Fund accurately depicts the Fund's activity for the related year and complies with state regulations. As required, the Board itemized donations by donor and disbursed funds according to the donor's intent.
Key Facts and Findings
The Capitol Fund is primarily funded with revenues from donations and enterprise activities. With the completion of the Capitol restoration, project donations have decreased. The revenues from various enterprise activities continue to escalate as these programs mature. Thus, as would be expected, donated funds represent a decreasing portion of the Capitol Fund.
As a result of prior recommendations, the Board deposits revenues received from donations within three business days of receipt. It also documented the policies and procedures for its Capitol Fund accounting functions during the past fiscal year.
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