February 22, 1995
TO: BOARD OF GOVERNORS No. 31-95
RE: Audit Report for Fiscal Year 1994
______________________________________________________________________________
Enclosed is the independent auditor’s report for the Institute’s fiscal year ending
September 30, 1994. The independent auditors have met with the Audit Committee to discuss
this report.
Please contact me (202/326-5804) or Tom Simmons (202/326-5965) if you have any
questions concerning the audit report.
C. Richard Pogue
Executive Vice President
Enclosure