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When the Department of Defense prepares its financial statements each year, transactions that occur between two DOD components (like Army and Navy) must be eliminated from the department-wide statements.
Since 1995, the Department of Defense's financial management has been on our High Risk List. Thousands of audit findings from DOD's department-wide financial statement audits in 2018 show the extent of improvements needed.
Financial management at DOD has been a High Risk issue since 1995, with unreliable financial reporting and little accountability over a trillion-dollar budget. Now DOD is trying to build a cadre of qualified financial managers to lead reforms.
What GAO Found Since February 2015, the Journal Voucher Working Group (Working Group), which is comprised of Department of the Army (Army) and Defense Finance and Accounting Service personnel, has been actively working toward implementing new processes to address inadequate support for journal vouchers...
What GAO Found The Schedules of Budgetary Activity (Budgetary Schedules) for the Army, Navy, and Air Force for fiscal year 2015 reflected current year budget activity as an interim step toward producing an auditable Statement of Budgetary Resources that will reflect multiyear budget activity.
What GAO Found GAO's analysis of Army Industrial Operations (Industrial Operations) reports showed that Industrial Operations actual adjusted carryover exceeded its allowable carryover amount from fiscal years 2013 through 2015 by $195 million, $1.1 billion, and $854 million, respectively.
What GAO Found The Army made some improvements to its schedule and cost estimates that supported the December 2012 full deployment decision for the Global Combat Support System-Army (GCSS-Army); however, the schedule and cost estimates did not fully meet best practices.
What GAO Found Joint base officials reported varying progress in consolidating installation-support functions, and challenges resulting from consolidation efforts that created inefficiencies and inequities.