Inventory Accuracy at the Defense Depot, Columbus, Ohio.

Abstract

We identified issues on the accuracy of inventory reporting for materiel stored at the Defense Depot, Columbus, Ohio during our overall audit of the inventory accounts in the FY 1996 Defense Business Operations Fund financial statements. We initiated the inventory audit to support the Chief Financial Officers Act of 1990 (Public Law 101-576, November 15, 1990) as amended by the Federal Financial Management Act of 1994 (Public Law 103-356, October 13, 1994). This report is the first in a series of reports dealing with issues related to Defense Business Operations Fund (DBOF) inventory accounts. Besides meeting the requirements of the law, audits of inventory records are necessary because of the significance of the financial resources that DoD expends on inventory. The FY 1995 ending balance for inventory in the DBOF financial statements was about $55.2 billion. In addition, accurate inventory records are critical to readiness, sustainability, financial integrity, and cost-effective operations.

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Document Details

Document Type
Technical Report
Publication Date
Feb 28, 1997
Accession Number
ADA369553

Entities

People

  • Deborah Curry
  • F. J. Lane
  • James L. Kornides
  • Scott K. Miller
  • Timothy F. Soltis

Tags

Communities of Interest

  • Ground and Sea Platforms

DTIC Thesaurus Topics

  • Accounting
  • Accuracy
  • Air Force
  • Base Closures
  • Commerce
  • Department Of Defense
  • Executives
  • Financial Management
  • Geographic Regions
  • Information Exchange
  • Inventory
  • Logistics
  • National Security
  • Navy
  • Procurement
  • Security
  • Standards

Readers

  • Government Contracting/Procurement.
  • Maritime Combat Support and Expeditionary Logistics.