Financial management (41 - 50 of 250 items)
DOD Contract Payments: Management Action Needed to Reduce Billions in Adjustments to Contract Payment Records
GAO-03-727: Published: Aug 8, 2003. Publicly Released: Sep 2, 2003.
GAO has reported that the Department of Defense's (DOD) inability to accurately account for and report on disbursements is a long-term, major problem. GAO was requested to determine (1) the magnitude of the adjustments and related costs in fiscal year 2002, (2) why contracts, including payment terms, are so complex, (3) the key factors that caused Defense Finance and Accounting Service (DFAS) Colu...
Navy Working Capital Fund: Backlog of Funded Work at the Space and Naval Warfare Systems Command Was Consistently Understated
GAO-03-668: Published: Jul 1, 2003. Publicly Released: Jul 1, 2003.
The Space and Naval Warfare Systems Command (SPAWAR) has hundreds of millions of dollars of funded work that its working capital fund activities did not complete before the end of the fiscal year. Reducing the amount of workload carryover at fiscal year-end is a key factor in the effective management of Department of Defense (DOD) resources and in minimizing the "banking" of funds for work to be p...
Travel Cards: Control Weaknesses Leave Navy Vulnerable to Fraud and Abuse
GAO-03-147: Published: Dec 23, 2002. Publicly Released: Jan 24, 2003.
Poor oversight and management of DOD's travel card program has led to high delinquency rates, costing DOD millions in lost rebates and increased ATM fees. As a result, the Congress asked GAO to report on (1) the magnitude, impact, and cause of delinquencies, (2) the types of fraudulent and abusive uses of the travel card, and (3) the effectiveness of internal controls over DOD's travel card progra...
Travel Cards: Control Weaknesses Leave Army Vulnerable to Potential Fraud and Abuse
GAO-03-169: Published: Oct 11, 2002. Publicly Released: Oct 18, 2002.
The Army's individually billed travel card program is different from the purchase card program in that the cardholder is directly responsible for all charges incurred on his or her travel card account, and the monthly bill is sent to the cardholder for payment. The cardholder is responsible for submitting a properly documented voucher and is reimbursed by the Army for all valid expenses related to...
Purchase Cards: Control Weaknesses Leave Army Vulnerable to Fraud, Waste, and Abuse
GAO-02-732: Published: Jun 27, 2002. Publicly Released: Jul 17, 2002.
The Army's purchase card program--the largest within the Defense Department--offers significant benefits, but weak internal controls have left the Army vulnerable to fraudulent, improper, and abusive purchases. The Army has yet to issue servicewide regulations or operating procedures, instead relying on ad hoc memoranda and other informal guidance. The Army also does a poor job of overseeing the p...
Purchase Cards: Control Weaknesses Leave Two Navy Units Vulnerable to Fraud and Abuse
GAO-02-32: Published: Nov 30, 2001. Publicly Released: Jan 2, 2002.
GAO reviewed purchase card activity at the Space and Naval Warfare Systems Command (SPAWAR) Systems Center and the Navy Public Works Center in San Diego and found significant breakdowns in internal controls over purchase card transactions, including fraudulent, improper, and abusive purchases and theft and misuse of government property. Neither SPAWAR nor the Navy Public Works Center had effective...
Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Marine Corps League for Fiscal Years 2000 and 1999
GAO-01-896R: Published: Jun 26, 2001. Publicly Released: Jun 26, 2001.
GAO reviewed the audit report covering the financial statements of the Marine Corps League for fiscal years 2000 and 1999. GAO found no reportable instances of noncompliance. The audit report included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles...
Financial Management: Navy's Implementation of the Defense Property Accountability System
GAO-01-88R: Published: Dec 13, 2000. Publicly Released: Dec 13, 2000.
As part of its involvement with the Navy Personal Property Working Group, GAO reviewed the Department of the Navy's implementation of the Defense Property Accountability System (DPAS). As requested by the working group, GAO visited six Navy activities to evaluate DPAS implementation at those selected locations. GAO found that (1) physical wall-to-wall inventories of personal property were not bein...
Financial Management: Improvements Needed in the Navy's Reporting of General Fund Inventory
GAO-01-37R: Published: Oct 27, 2000. Publicly Released: Oct 27, 2000.
The Navy improved the reporting of its general fund inventory on its fiscal year 1999 financial statement. The Navy properly accounted for equipment and supplies that were not reported in the prior year's statement, which included inventories held by contractors and the Coast Guard. Improvements in the Navy's financial reporting, however, are still needed. GAO found many errors and omissions that...
Financial Management: Reporting of Army Conventional Ammunition as Operating Materials and Supplies
GAO-01-45R: Published: Oct 24, 2000. Publicly Released: Oct 24, 2000.
The Army's current accounting practices and manual procedures for calculating operating materials and supplies (OM&S) balances caused accounting errors that understated the Army's fiscal year 1999 OM&S balance by at least $1.5 billion. In addition, ammunition held at retail-level installations for training purposes was excluded from the financial reports...