Financial Management:

NASA's Decisions Are Based on Unreliable Systems Data and Reports

T-AFMD-92-9: Published: May 7, 1992. Publicly Released: May 7, 1992.

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO discussed the National Aeronautics and Space Administration's (NASA) financial management systems and operations. GAO noted that: (1) NASA internal controls, policies and procedures, and financial management systems provide no assurance that its $13.9 billion in fiscal year (FY) 1991 appropriations and almost $13.4 billion in contractor-held property are being properly and accurately accounted for or adequately safeguarded; (2) NASA contractors did not always report, as required, cost information by program, project, and contract phase; (3) although NASA has established two levels of control over its obligations and expenditures, it has still not adequately enforced controls over the use of its budgetary resources; (4) NASA financial reporting used to determine the billions of dollars it spends each year to carry out its program and operations is unreliable due to fundamental systems deficiencies; (5) NASA has serious reimbursable accounting weaknesses, including poor documentation for billings and failure to collect amounts owed by other agencies for work NASA performed; and (6) NASA relies on various Department of Defense agencies for contractor audit coverage and contract administration to provide assurance that contractor-submitted data are accurate and reliable, but in the last 4 years, only one review of contractor cost reports was performed.

Jul 23, 2014

Jul 16, 2014

Jun 20, 2014

May 15, 2014

May 8, 2014

Apr 15, 2014

Mar 12, 2014

Feb 4, 2014

Jan 13, 2014

Jan 8, 2014

Looking for more? Browse all our products here