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AFMD-92-82 Financial Management: Immediate Actions Needed to Improve Army Financial Operations and Controls
Financial Audit: Immediate Actions Needed to Improve Army Financial Operations and Controls
For FY 1992, the U.S. Army's annual appropriations totaled about $72 billion and its noncash assets were reportedly valued at $292 billion. The Army's financial accountability for billions of dollars of resources is seriously impaired by weaknesses in systems that account for and report its disbursements, inadequate controls over automated data processing of financial and logistics information, and limited progress in DoD-wide efforts to improve financial management. Charts and tables.
Addresses: (1) DoD's rationale for creating the Defense Finance and Accounting Service (DFAS), (2) the current size of DoD's finance and accounting infrastructure (e.g., locations, personnel, and systems) as compared with its size when DFAS was created, and (3) the various finance and accounting activities performed by DoD personnel. Presents data as of Sept. 30, 1996, which was provided by DoD.