Financial Management: Improvements in Air Force Fund Balance With Treasury Reconciliation Process

Abstract

The Department of Defense (DOD) and its components have had longstanding problems in reconciling the transaction activity in their Fund Balance with Treasury accounts. These reconciliations continue to be a significant challenge facing DOD and contribute to DODs inability to prepare auditable financial statements and to DOD financial management being a high-risk area.1 We recently testified2 that DOD could not reconcile billions of dollars of differences between its available fund balances and the amounts reported by the Department of the Treasury for those accounts. Until DOD and its components can reconcile the receipt and disbursement activity and demonstrate the validity of their Fund Balance with Treasury accounts, the amount of DOD funds available to them for expenditure in each appropriation account will remain questionable.

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Document Details

Document Type
Technical Report
Publication Date
Jul 01, 2001
Accession Number
AD1166838

Entities

People

  • Gregory D. Kutz

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Accountability
  • Accounting
  • Air Force
  • Air Force Personnel
  • Business Administration
  • Commerce
  • Department Of Defense
  • Department Of State
  • Disbursements
  • Electronic Mail
  • Finance
  • Financial Management
  • Governments
  • Integrated Systems
  • Internet
  • Money
  • Payment
  • United States
  • Websites
  • World Wide Web

Fields of Study

  • Business

Readers

  • Defense Financial Management and Audit.