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The Department of Defense received $500 million for a working capital fund to respond to the COVID-19 pandemic.
The Defense Logistics Agency (DLA) used the funding to help respond to a surge in demand for medical supplies from both DOD and non-DOD customers.
Suspense accounts are meant to temporarily record transactions that require more research before they are permanently recorded. The Department of Defense has lacked internal controls over its suspense accounts for decades, leading to large balances and costly write-offs.
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.
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