This is the accessible text file for GAO report number GAO-05-1034R 
entitled 'Federally Chartered Corporation: Financial Statement Audit 
Report for the National Federation of Music Clubs for Fiscal Year 2003' 
which was released on September 30, 2005. 

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September 30, 2005: 

The Honorable F. James Sensenbrenner, Jr. 
Chairman: 
Committee on the Judiciary: 
House of Representatives: 

Subject: Federally Chartered Corporation: Financial Statement Audit 
Report for the National Federation of Music Clubs for Fiscal Year 2003: 

Dear Mr. Chairman: 

As requested, we read the audit report covering the financial 
statements of the National Federation of Music Clubs, a federally 
chartered corporation, for the fiscal year ended June 30, 2003. The 
corporation was established to encourage American musical activities. 

Federally chartered corporations are required under 36 U.S.C. §10101 
to: 

* present the corporation's assets and liabilities and reasonable 
detail on the corporation's income and expenses in annual financial 
statements and: 

* obtain an annual financial audit by an independent public accountant. 

Our objective was to advise you of any matters in the report regarding 
compliance with the financial reporting requirements of the law. In 
carrying out our work, we read the corporation's financial statements 
and the accompanying notes, performed certain analytical procedures 
related to information presented in the financial statements, and read 
the auditor's report. We did not identify any instance of noncompliance 
with the above financial reporting requirements of the law. 

We did not perform an audit or review the auditor's working papers, and 
we are not rendering an audit opinion. 

The audit report included the auditor's opinion that the financial 
statements of the corporation were presented fairly on a modified cash 
basis of accounting. We are returning the audit report you sent with 
your letter. 

This letter is intended solely for your use and the use of the 
Committee on the Judiciary. This letter will be available at no charge 
on GAO's Web site at http://www.gao.gov. 

If you have any questions or would like to discuss this letter, please 
contact me at (202) 512-3406 or by e-mail at sebastians@gao.gov. 
Contact points for our Offices of Congressional Relations and Public 
Affairs may be found on the last page of this letter. Key contributors 
to this letter were David Elder, Charles Payton, and Lien To. 

Sincerely yours,

Signed by: 

Steven J. Sebastian: 
Director: 
Financial Management and Assurance: 

w/o Enclosure: 

(196057):