United States Air Force Annual Financial Statement 2011
Abstract
The FY 2011 Department of the Air Force General Fund Principal Statements and related notes are presented in the format prescribed by the Department of Defense Financial Management Regulation 7000.14-R, Volume 6B. The statements and related notes summarize financial information for individual activity groups and activities within the General Fund for the fiscal year ending September 30, 2011, and are presented on a comparative basis with information previously reported for the fiscal year ending September 30, 2010. The following statements comprise the Department of the Air Force General Fund Principal Statements: (1) Consolidated Balance Sheet; (2) Consolidated Statement of Net Cost; (3) Consolidated Statement of Changes in Net Position; and (4) Combined Statement of Budgetary Resources. The Fiscal Year (FY) 2011 Annual Financial Statement of the U.S. Air Force presents our financial position and results of operations. It allows Congress, senior defense leaders, and the public to assess our management performance while highlighting our efforts to continuously improve financial management processes and systems. Our goal is to obtain auditable financial statements in order to enable better management of taxpayer resources. We have made great strides towards this goal, including receiving our first unqualified opinion on a statement line item. In August 2011, KPMG, LLP, affirmed the internal controls over the Budget Authority Appropriation line of the Statement of Budgetary Resources are designed to operate effectively to prevent, detect, and correct material misstatements. In October 2011, we received a clean opinion on Funds Balance with Treasury (FBWT) reconciliation from Price Waterhouse Cooper.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 2011
- Accession Number
- ADA595771
Entities
Organizations
- Assistant Secretary of the Air Force