General Government
An Audit Report on The State Preservation Board's Bob Bullock Texas State History Museum Fund
June 2002
Report Number 02-054
Overall Conclusion
The State Preservation Board's (Board) fiscal year 2001 Annual Report to the Board for the Bob Bullock Texas State History Museum Fund accounts for only the museum's $2.1 million trust fund. The Annual Report does not include information on the museum's operating fund, which accounted for $3.7 million in revenues and $1.1 million in expenses during fiscal year 2001. The Annual Report would be more useful if it included information about the museum's operating fund because this would provide a complete presentation of all of the museum's funds. This would enable the Legislature to assess the overall financial performance of the museum.
Key Facts and Findings
- The $1.1 million in donations to the trust fund were properly accounted for and used for purposes associated with the museum. The $1.3 million in disbursements made from the trust fund in fiscal year 2001 complied with statutory requirements.
- Fund balances are reasonable based on revenue and expense activity of the museum during fiscal year 2001.
- Although the Board did not include the operating fund in the Annual Report, we performed limited tests on the operating fund's revenue and expenses and did not identify any significant weaknesses.
- Texas Government Code, Section 445.011(a), specifies that, to the extent
possible, the costs of operating the museum shall be paid from revenues generated
by the museum. However, the Legislature may appropriate funds for the operation
of the museum. During fiscal year 2001, appropriated General Revenue paid
for $1.2 million of the museum's salary and wage expenses.
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