Defense Working Capital Funds: DOD Faces Continued Challenges in Eliminating Advance Billing

Abstract

We are pleased to be here today to discuss the Department of Defense's (DOD) working capital funds, formerly known as the Defense Business Operations Fund (DBOF), which both collect and disburse over $65 billion annually. Specifically, our testimony will provide a (1) brief overview of fund operations and objectives, (2) a more detailed perspective of cash management operations, and (3) our concerns with the cash situation through fiscal year 1998. In 1991, the Department established DBOF in order to foster a more business-like culture within selected Defense operations - including depot maintenance, transportation, supply management, and finance and accounting. In creating DBOF, DOD consolidated the nine existing industrial and stock funds operated by the military services and Defense components into a single financial structure. The military services and Defense components continued to be responsible for managing and operating business activities within the financial structure.

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Document Details

Document Type
Technical Report
Publication Date
Jul 22, 1997
Accession Number
AD1152785

Entities

People

  • Jack L. Jr Brock

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Accounting
  • Air Force
  • Business Administration
  • Commerce
  • Cost Reductions
  • Costs
  • Department Of Defense
  • Disbursements
  • Electronic Mail
  • Finance
  • Financial Management
  • Governments
  • House Of Representatives
  • Internet
  • Maintenance
  • Money
  • National Security
  • United States
  • United States Transportation Command
  • World Wide Web

Readers

  • Defense Acquisition Program Management
  • Defense Financial Management and Audit.