Financial Management: Navy Records Contain Billions of Dollars in Unmatched Disbursements
Abstract
Federal executive agencies, including the Department of the Navy, are responsible for ensuring that their funds are expended in accordance with the purposes and limitations specified by the Congress. For example, under 31 USC. 1301, agencies may only use appropriations for their intended purposes. Further, the Antideficiency Act (31 U.S.C. 1341 and1617) prohibits agencies from over-obligating or over-expending their appropriations, apportionments, and administrative divisions of funds. To implement these requirements, DOD Directive 7200.1 specifies the requirements for accounting and fund control systems for DOD. The Directive states that these systems are to ensure that funds are used only for congressionally authorized purposes, and that payments are not made in excess of amounts available. In order to comply with legal and regulatory requirements, DOD organizations' accounting and fund control systems must be able to record disbursements as expenditures of appropriations and as reductions of previously recorded obligations. Proper matching of disbursements with related obligations is necessary to ensure that the agency has reliable information on the amount of funds available for obligation and expenditure.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 01, 1993
- Accession Number
- AD1169181
Entities
People
- Brian Mullins
- Donald H. Chapin
- Ernst Stockel
- Gerald Thomas
- Greg Luebbering
- John Butts
- Josephine Brownlee
- Larry Logsdon
- Mary Jo Lewnard
Organizations
- United States Government Accountability Office