Compilation of the FY 2000 Navy Working Capital Fund Financial Statements
Abstract
We performed this audit in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, which requires DoD to provide audited financial statements to the Office of Management and Budget. This is the fifth and final report on our audit work on the FY 2000 Navy Working Capital Fund Financial Statements and related controls and supporting financial data. The previous reports dealt with inventory valuation, problems with a financial feeder system, intragovernmental transactions, and our endorsement of the Naval Audit Service disclaimer of opinion on the financial statements. These reports are listed in Appendix A. The Defense Finance and Accounting Service (DFAS) provides finance and accounting support, maintains the official accounting records, and prepares the financial statements using data from supporting field offices. The FY 2000 Navy Working Capital Fund Financial Statements reported total assets of $25.1 billion and total liabilities of $6 billion as of September 30, 2000. Also, the FY 2000 financial statements showed earned revenue of $13.7 billion and program costs of $13.6 billion.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 03, 2001
- Accession Number
- ADA392059
Entities
People
- Carrie A. Wade
- Joel K. Chaney
- Marvin L. Peek
- Paul J. Granetto
- Richard B. Bird
Organizations
- Office of the Inspector General, U.S. Department of Defense