DOD Procurement: Millions in Overpayments Returned by DOD Contractors
NSIAD-94-106
Published: Mar 14, 1994. Publicly Released: Apr 12, 1994.
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Highlights
Pursuant to a congressional request, GAO reviewed the Department of Defense's (DOD) overpayments to contractors and subsequent contractor refunds, focusing on: (1) the nature of the contractors' payments; (2) how long the funds were outstanding; (3) DOD efforts to detect and recover contract overpayments; and (4) DOD actions to strengthen its contract payment system.
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Topics
Accounting proceduresContractor paymentsDefense procurementDepartment of Defense contractorsFederal agency accounting systemsFinancial managementInternal controlsMilitary cost controlOverpaymentsRefunds to government