Financial Management: DOD's Report on Precommand Financial Management Training
Abstract
In fiscal year 2018, Congress appropriated the Department of Defense (DOD) roughly $660 billion in funding, an increase of $55.2 billion from fiscal year 2017 defense appropriations. The mission of the departments financial management workforce, which consists of approximately 54,000 civilian and military personnel, is to ensure that the departments budget and financial expenditures support the national security objectives of the United States. Long-standing, uncorrected deficiencies within DODs financial management systems, including those related to financial manager qualifications, continue to negatively affect DODs ability to manage the department and make sound decisions on missions and operations. For example, DODs decentralized management environment may have an effect on the ability of financial management personnel to gain the requisite expertise to develop and implement needed corrective action plans (CAPs). Moreover, while DOD has made progress in financial management training, the department lacks the level of expertise needed to lead financial management reform across the department. Having sound financial management practices and reliable, useful, and timely financial and performance information is important to help ensure accountability over DODs extensive resources and efficiently and economically manage the departments assets and budgets.
Document Details
- Document Type
- Technical Report
- Publication Date
- Nov 14, 2018
- Accession Number
- AD1153103
Entities
People
- Asif Khan
- Brenda S. Farrell
Organizations
- United States Government Accountability Office