Defense Business Operations Fund

AIMD-94-159R: Published: Jul 26, 1994. Publicly Released: Jul 26, 1994.

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Pursuant to an agency request, GAO commented on the proposed Defense Business Operations Fund Management Report. GAO noted that: (1) uniform implementation of the new reporting requirements across all fund activities will provide a monthly portrait of the fund's overall financial status and serve as a building block for preparing the year-end reports; (2) the report needs to incorporate performance measures and accounting standards and clarify guidance and definitions; (3) it could not test the accuracy of the report, since Department of Defense (DOD) components have not completed the report; (4) DOD must identify appropriate data sources to ensure consistent reporting because of the fund's various financial and ancillary systems and the nonuniformity of the services' general ledgers; and (5) DOD will need to train fund personnel in the new and expanded reporting requirements and provide guidance to ensure consistent and accurate reporting where data are not readily available.

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