Submission of - Federal Appropriated Funds Audited Statements and Related Documents to

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 federal appropriated funds financial statements were prepared to comply with the requirements of the Office of Management and Budget for the purpose of presenting the assets, liabilities, net assets, revenues, expenses, and cash flows related to the Center's federal appropriations, and are not intended to be a complete presentation of the statement of financial position of the Center as of Sep. [...] 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 Educatio. [...] The $2,286,348 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.