The Air Force Has Incurred Numerous Overobligations In Its Industrial Fund

Abstract

The Air Force has incurred numerous overobligations in its industrial fund in recent years, ranging up to $210 million, and has not reported the deficiencies to the President and the Congress as required by law. Further, the Air Force illegally adjusted balances on its/year end accounting reports. Because of these adjustments, existing overobligations were not disclosed. The Air Force practice of obligating its industrial fund in excess of available budgetary resources, based on anticipated customer orders, circumvents the appropriation and apportionment process and is not in accordance with the intent of the Congress or OMB guidelines. The Air Force should limit its industrial fund obligations to available resources and report all violations of the Anti-Deficiency Act to the President and the Congress.

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Document Details

Document Type
Technical Report
Publication Date
Aug 14, 1981
Accession Number
AD1183176

Entities

People

  • Milton Socolar

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Accounting
  • Air Force
  • Congress
  • Contracts
  • Department Of Defense
  • Directives
  • Finance
  • Financial Management
  • Governments
  • Inventory
  • Inventory Control
  • Law
  • Maintenance
  • Money
  • National Governments
  • National Security
  • Performance Tests
  • United States

Readers

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