Submission of - Federal Appropriated Funds Audited Statements and Related Documents to
15 November 2018
The Act of Congress that created the Center provides that the Secretary of the Smithsonian shall be a member of the Board of Trustees of the Center. [...] Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Center’s internal control or on compliance. [...] The Center’s mission is consonant with the mission of the Smithsonian, “an establishment for the increase and diffusion of knowledge …” While not part of the Smithsonian governance structure, the Secretary of the Smithsonian is an ex officio member of the Center’s statutory Board of Trustees which also consists of the Secretary of State, Secretary of Health and Human Services, Secretary of Educati. [...] The $1,996,612 represents: a) the capitalized furniture and computer equipment which is recorded and depreciated over the estimated useful lives of the property; and b) capitalized leasehold improvements recorded at cost and amortized over the estimated life of the asset or the remaining length of the lease, whichever is less. [...] MANAGEMENT INTEGRITY: CONTROLS AND COMPLIANCE The Center maintains a comprehensive management control program through the activities of the Smithsonian’s Inspector General as part of an administrative services agreement with the Smithsonian, the efforts by the Audit Committee of the Center’s Board of Trustees, and the ongoing hands-on efforts to review and improve controls by management staff.