The Foreign Military Sales Administrative Fund

Abstract

This is our final report on the Audit of the Foreign Military Sales Administrative Fund (the Fund) for your information and use. The comments provided to the draft of this report were considered in preparing the final report. The audit was made from July 1988 to March 1989. The objective of the audit was to evaluate the solvency of the Fund by determining if administrative and logistics support surcharges were sufficient to pay current and anticipated administrative expenses. We also evaluated the adequacy of internal controls established for Fund administration. As of December 31, 1988, the Foreign Military Sales Program (the Program) comprised 17,449 open cases (contracts between the U.S. Government and foreign countries) written for $148.6 billion of which $60.1 billion of articles and services remain to be delivered. Original administrative surcharges on these open cases totaled $4.0 billion including $518.7 million remaining to complete the delivery of ordered articles and services.

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Document Details

Document Type
Technical Report
Publication Date
Apr 18, 1990
Accession Number
ADA385241

Entities

Organizations

  • Office of the Inspector General, U.S. Department of Defense

Tags

Communities of Interest

  • Human Systems
  • Weapons Technologies

DTIC Thesaurus Topics

  • Agreements
  • Air Force
  • Air Force Facilities
  • Commerce
  • Computer Programming
  • Computer Programs
  • Congress
  • Contracts
  • Department Of Defense
  • Financial Management
  • Foreign Military Sales
  • Governments
  • Law
  • Logistics Support
  • Military Personnel
  • Procurement
  • Program Management

Readers

  • Defense Financial Management and Audit.
  • Government and Public Administration Law.