NOTE 6 Accounts Receivable, Net


The breakdown of the consolidated Accounts Receivable (both Intragovernmental and With the Public), as of September 30, 2019, and 2018, is as follows:


Dollars in Thousands ACCOUNTS RECEIVABLE


Intragovernmental Entity


Total Intragovernmental


With the Public Entity


Non-Entity


Total With the Public Total


$ $


$ 2019


1,857 1,857


850 26


$ 876 $


2,733


$ $


$


$ $


2018


2,239 2,239


1,333 5


1,348 3,587


During FY 2019, the decrease in the Entity Accounts Receivable is mainly attributed to the collection of outstanding collections for steam and chilled water and Senate Restaurant commissions, which were timelier during FY 2019 than the previous year. As of the current period, all accounts are considered current and there is no allowance for doubtful accounts.


NOTE 7 Inventory and Related Property, Net


Inventory consists of retail goods purchased for resale at the Capitol Visitor Center’s Gift Shops. The AOC may record an allowance which is based on slow-moving, excess or obsolete and damaged inventory, if applicable.


Inventory, as of September 30, 2019, and 2018, is as follows:


Dollars in Thousands INVENTORY CATEGORY


Purchased Goods Held for Current Sale $ Total


$ 2019


624 624


$ $


The decrease in inventory on hand was due to a higher inventory turnover rate in FY 2019 compared to the same reporting period in FY 2018.


Damaged items consist of broken and/or stained merchandise that are no longer in saleable condition, such as display items. Discontinued or defective merchandise may also be restricted from future sales and carried as damaged inventory until disposed.


2018


684 684


In FY 2019, the AOC conducted stone repair work on the Ulysses S. Grant Memorial and installed replica lamps.


Based upon management’s reviews and the most recent inventory count, all damaged inventory was disposed in accordance with normal operating practices. Therefore, there is no damaged or restricted inventory to report as of September 30, 2019.


2019 PERFORMANCE AND ACCOUNTABILIT Y REPORT


Financial Information • Section III


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