Stockpile Fund

AIMD-95-35R: Published: Dec 16, 1994. Publicly Released: Dec 16, 1994.

Additional Materials:


Office of Public Affairs
(202) 512-4800

Pursuant to a congressional request, GAO reviewed the propriety of the National Defense Stockpile Transaction Fund's accounting for recent noncash transactions, focusing on whether the Fund: (1) reasonably reported its cash and obligated balances; and (2) used its $215.8-million appropriation as required. GAO noted that: (1) noncash transactions were not separately identified or disclosed in the Fund's 1993 financial statements or in its annual report to Congress; (2) the misclassification of noncash transactions resulted in unobligated fund balances of $113.6 million; (3) the Fund's unaudited financial statements for 1993 did not adequately reflect its net position; (4) the Fund's invested capital balance was overstated by $181.8 million because it included unobligated appropriations and undelivered cash and noncash orders that should have been disclosed separately; (5) the Fund has attempted to correct its reporting problems for its fiscal year 1994 financial statement report; (6) it was unable to assess the reasonableness of the Fund's balances and corrective actions as of September 30, 1994, because the statements were under year-end review; (7) it could not determine whether the Fund was in compliance with its legislated spending requirements because Fund officials did not adequately document transactions and expenditures; and (8) Fund officials have agreed to maintain transaction information in the future.

Oct 11, 2018

Oct 10, 2018

Oct 9, 2018

Sep 24, 2018

Sep 20, 2018

Sep 10, 2018

Sep 6, 2018

Sep 5, 2018

Sep 4, 2018

Looking for more? Browse all our products here