Financial Management:
DOD's Efforts to Improve Operations of the Defense Business Operations Fund
T-AIMD/NSIAD-94-170: Published: Apr 28, 1994. Publicly Released: Apr 28, 1994.
Additional Materials:
- Full Report:
Contact:
GAO discussed the Department of Defense's (DOD) operation and management of the Defense Business Operations Fund. GAO noted that: (1) DOD has not developed policies critical to the Fund's operations; (2) DOD cost accounting systems are fragmented, costly to maintain, and do not provide the cost information necessary for managers to better control costs; (3) although DOD has made some progress in improving fund operations, it has only completed 18 of the 44 tasks scheduled to be completed by December 31, 1993; (4) DOD has developed performance measures for the Fund, but it has not fully developed the required corresponding goals for some business areas; (5) DOD proposes to increase the prices of supply items and customers' budget requests by about $762 million in fiscal year (FY) 1995 to recover the full cost of the Fund's supply management operations; (6) establishing prices based on total operating costs is essential to meet the Fund's objectives; (7) DOD estimates that at the end of FY 1994, the Fund will have approximately $1.7 billion in accumulated losses, and revenue totalling about $77 billion in FY 1995; (8) DOD managers are not receiving accurate financial data on the Fund's capital asset program; and (9) DOD needs to pursue short-term efforts to improve the quality of the information used to manage and prepare financial reports.
Nov 16, 2020
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Financial Audit:
Bureau of Consumer Financial Protection's FY 2020 and FY 2019 Financial StatementsGAO-21-174R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Federal Housing Finance Agency's FY 2020 and FY 2019 Financial StatementsGAO-21-201R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Securities and Exchange Commission's FY 2020 and FY 2019 Financial StatementsGAO-21-192R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020.
Nov 10, 2020
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Financial Audit:
IRS's FY 2020 and FY 2019 Financial StatementsGAO-21-162: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020. -
Financial Audit:
Office of Financial Stability's (Troubled Asset Relief Program) FY 2020 and FY 2019 Financial StatementsGAO-21-173R: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020.
Nov 9, 2020
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Financial Audit:
Bureau of the Fiscal Service's FY 2020 and FY 2019 Schedules of Federal DebtGAO-21-124: Published: Nov 9, 2020. Publicly Released: Nov 9, 2020.
Nov 6, 2020
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FY 2020 Excise Tax:
Agreed-Upon Procedures Related to Distributions to Trust FundsGAO-21-163R: Published: Nov 6, 2020. Publicly Released: Nov 6, 2020.
Oct 13, 2020
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DOD Financial Management:
Continued Efforts Needed to Correct Material Weaknesses Identified in Financial Statement AuditsGAO-21-157: Published: Oct 13, 2020. Publicly Released: Oct 13, 2020.
Sep 30, 2020
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Financial Management:
DOD Needs to Implement Comprehensive Plans to Improve Its Systems EnvironmentGAO-20-252: Published: Sep 30, 2020. Publicly Released: Sep 30, 2020.
Sep 9, 2020
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Defense Real Property:
DOD-Wide Strategy Needed to Address Control Issues and Improve Reliability of RecordsGAO-20-615: Published: Sep 9, 2020. Publicly Released: Sep 9, 2020.
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