Cash Management Policy and Procedures Need Improvement

Abstract

The Department of Defense could save millions of dollars annually in interest costs by returning excess cash to the Department of the Treasury. Excess cash balances of about $50 million occurred at central finance offices overseas, at military service finance and accounting offices, and aboard ships, resulting in about $3.2 million of unnecessary interest costs annually. These excess balances occurred because guidelines for computing cash requirements were either not clear or not followed. GAO recommends ways to improve Defense's cash management policy and procedures.

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Document Details

Document Type
Technical Report
Publication Date
Mar 17, 1978
Accession Number
AD1178744

Entities

People

  • Donald L. Scantlebury

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Ground and Sea Platforms

DTIC Thesaurus Topics

  • Accounting
  • Air Force
  • Air Force Facilities
  • Department Of Defense
  • Deployment
  • Finance
  • Financial Management
  • Governments
  • Military Organizations
  • Money
  • Motivation
  • Navy
  • Overseas
  • Replenishment
  • Ships
  • Supply Depots
  • United States

Readers

  • Government and Public Administration Law.
  • Logistics and Supply Chain Management.