Financial Management: Status of the Defense Business Operations Fund
AFMD-92-79
Published: Jun 15, 1992. Publicly Released: Jun 15, 1992.
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Highlights
Pursuant to a legislative requirement, GAO reviewed the Department of Defense's (DOD) progress in implementing the Defense Business Operations Fund, provided information on key tasks, and proposed deadlines for DOD to consider in implementing the Fund.
Recommendations
Matter for Congressional Consideration
| Matter | Status | Comments |
|---|---|---|
| As DOD has made only limited progress in developing and implementing key policies and systems, Congress may wish to extend the sunset provision and related restrictions on Fund operations called for in the National Defense Authorization Act of Fiscal Years 1992 and 1993 through the end of fiscal year (FY) 1994. If the extension is authorized, DOD should not be permitted to add any new activities to the Fund in FY 1994. Congress may also wish to make achievement of the key milestone dates mentioned above criteria for the evaluation of the Fund. |
Closed – Implemented
|
The House and Senate Armed Services Committees' reports for FY 1993 extended the sunset provision until April 15, 1994. The Senate Armed Services Committee report provided that no new activities be added to the Fund. The House Armed Services Committee report also established key milestones for evaluating the implementation of the Fund. |
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Topics
Accounting proceduresAppropriated fundsAuditing standardsDefense budgetsDefense cost controlFederal agency accounting systemsFinancial managementFinancial management systemsIndustrial fundsInternal controls