Air Force FY 2000 Financial Reporting of Operating Materials and Supplies
Abstract
We performed this audit in support of the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994. DoD defines operating materials and supplies as tangible personal property that is to be consumed in normal operations. The Air Force operating materials and supplies include two broad categories, investment inventory items and conventional munitions. The Air Force defines an investment inventory item as any article financed by central procurement appropriations. Investment assets include selected aircraft and missile spare parts, time change and depot-directed modification kits, fuel tanks, racks, adapters, pylons, and spare parts for Government-furnished support packages. In general, munitions assets consist of any item containing explosives, excluding self-propelled and guided missiles that are classified as stewardship assets. The Air Force reported $19.6 billion for operating materials and supplies on their FY 2000 financial statements. The $19.6 billion consisted of $12 billion (61 percent) of investment inventory items, and $7.6 billion (39 percent) of munitions assets.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 05, 2001
- Accession Number
- ADA392090
Entities
Organizations
- Office of the Inspector General, U.S. Department of Defense