Financial Statement: Major Deficiencies in Financial Reporting for Other Defense Organizations-General Funds

This financial related audit was performed in response to the Chief Financial Officers Act of 1990, as amended, which requires DoD and other Government agencies to produce complete, reliable, timely, and consistent financial information. The Other Defense Organizations-General Funds is one reporting...

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Bibliographic Details
Main Author: Gimble, Thomas F
Format: Report
Language:English
Subjects:
Administration and Management
AUDITING
CONSISTENCY
DEFENSE SYSTEMS
DEFICIENCIES
Economics and Cost Analysis
FINANCE
FINANCIAL MANAGEMENT
ORGANIZATIONS
RELIABILITY
Y2K COMPLIANCE
YEAR 2000 COMPLIANCE
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Summary:This financial related audit was performed in response to the Chief Financial Officers Act of 1990, as amended, which requires DoD and other Government agencies to produce complete, reliable, timely, and consistent financial information. The Other Defense Organizations-General Funds is one reporting entity included in the Department of Defense agency-wide financial statements. The entity represents a consolidation of financial information from various Defense organizations and funds that use the Treasury Index 97 symbol, also referred to as Department 97. (See Appendix B for a list of Other Defense Organizations-General Funds.) During FY 2001, the Other Defense Organizations received $64.3 billion of budget authority. This report addresses, in summary form, the major deficiencies that continue to undermine the reliability of the reporting process.