The accounting firm of Kearney & Company issued a report, dated Feb. 6, on the Library's 2003 Consolidated Financial Statements, stating that the Library's financial statements were presented fairly in all material respects. For the eighth consecutive year, the Library received an unqualified "clean" audit opinion. Kearney & Company also audited and issued unqualified audit opinions on the 2003 financial statements of the Madison Council, the National Digital Library and the Cooperative Acquisitions Program.
The Library of Congress received a total of $559,299,548, in appropriations for fiscal year (FY) 2004 as the result of a series of legislative actions. These included Public Law 108-83, the Fiscal 2004 Legislative Branch Appropriations Bill (H.R. 2657), which President Bush signed into law on Sept. 30, 2003; and Public Law 108-199, signed by the president on Jan. 24, 2004, which called for a 0.59 percent rescission of federal agency budgets. The result was a final appropriation for the Library of $559,299,548, including Copyright Office authority to spend $36,298,567 in receipts.
