Defense Budget: Actions Needed to Improve the Management of Foreign Currency Funds
Abstract
GAO was asked to examine DOD's processes to budget for and manage foreign currency fluctuations. This report (1) describes DOD's revision of its foreign currency budget rates since 2009 and the relationship between the revised rates and projected O and M and MILPERS funding needs; (2) evaluates the extent to which DOD has taken steps to reduce costs in selecting foreign currency rates to disburse funds to liquidate O and M obligations, and determined whether opportunities exist to gain additional savings; and (3) assesses the extent to which DOD has effectively managed the FCFD account balance. GAO analyzed data on foreign currency rates, DOD financial management regulations, anon-generalizable sample of foreign currency disbursement data, and FCFD account balances.
Document Details
- Document Type
- Technical Report
- Publication Date
- Apr 01, 2018
- Accession Number
- AD1152228
Entities
People
- Amie Lesser
- Carol Bray
- Cary B. Russell
- Cheryl Weissman
- Elaine Vaurio
- Felicia Lopez
- Jacqueline Mccoll
- John Trubey
- Justin Bolivar
- Kelly Liptan
- Leah Nash
- Matt Ullengren
- Mike Silver
- Randy Neice
- Roger Stoltz
- Susan Tindall
- Tulsi Bhojwani
Organizations
- United States Government Accountability Office