DFAS-Kansas City Financial Reporting

AIMD-96-34R: Published: Feb 12, 1996. Publicly Released: Feb 12, 1996.

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GAO provided information on how the Defense Finance and Accounting Service's (DFAS) Kansas City Center could improve the quality of data used to manage, monitor, and report on the Marine Corps' financial operations and condition. GAO noted that in response to its recommendations, DFAS-Kansas City agreed to: (1) calculate the Marines' allowance for doubtful accounts receivable using an analysis of past bad debt experience and an aging of the receivables; (2) exclude interest accruing on doubtful accounts receivable on financial statement balances; (3) report the value of Marine Corps ammunition held in inventory on financial statements; (4) include unfunded annual leave in Marine Corps financial reports; (5) more accurately report outstanding travel advances; and (6) account for in-service debt for pay advances or overpayments to Marine Corps personnel.

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