Compilation of the FY 2000 Army General Fund Financial Statements at the Defense Finance and Accounting Service Indianapolis (Sustaining Forces).

Compilation of the FY 2000 Army General Fund Financial Statements at the Defense Finance and Accounting Service Indianapolis (Sustaining Forces).
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Total Pages: 32
Release: 2001
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This is the second in a series of reports issued by the Inspector General, DoD, related to the FY 2000 Army General Fund Financial Statements. The first report was on our oversight of the Army Audit Agency audit of the FY 2000 Army General Fund Financial Statements. This report summarizes the compilation process performed by the Defense Finance and Accounting Service Indianapolis (Sustaining Forces), which maintains the Army departmental accounting records and compiles the Army General Fund financial statements. This audit was performed in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994. We delegated the audit of the FY 2000 Army General Fund Financial Statements to the Army Audit Agency. We performed the work at Defense Finance and Accounting Service Indianapolis (Sustaining Forces) to determine whether their compilation of data for the FY 2000 Army General Fund Financial Statements complied with applicable laws and regulations. The Army Audit Agency disclaimed an opinion on the FY 2000 Army General Fund Financial Statements, and we concurred with the disclaimer of opinion. The FY 2000 Army General Fund Consolidated Balance Sheet reported total assets of $80.7 billion and total liabilities of $54.2 billion. The Army consolidated Statement of Net Cost reported net program costs of $87.8 billion for the period ending September 30, 2000. The combined Statement of Budgetary Resources reported total budgetary resources of $97.0 billion. The Notes to the FY 2000 Army General Fund Financial Statements should disclose material suspense account balances. A suspense account is an account for the temporary entry of charges or credits pending determination of their ultimate disposition.

Compilation of the FY 2000 Army Working Capital Fund Financial Statements

Compilation of the FY 2000 Army Working Capital Fund Financial Statements
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Total Pages: 27
Release: 2001
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This report is the second in a series of audit reports relating to the audit of the FY 2000 Army Working Capital Fund Financial Statements. The first report was on our oversight of the Army Audit Agency audit of the FY 2000 Army Working Capital Fund Financial Statements. The Chief Financial Officers Act of 1990 requires the Inspector General, DoD, to audit the financial statements of DoD organizations in accordance with generally accepted Government auditing standards. The Inspector General, DoD, and the Army Audit Agency jointly performed the audit work at Defense Finance and Accounting Service Indianapolis. The Army Audit Agency disclaimed an opinion on the FY 2000 Army Working Capital Fund Financial Statements, and we endorsed the disclaimer. The FY 2000 Army Working Capital Fund Financial Statements reported assets of $12.7 billion and liabilities of $754 million. Net program costs for the Army Working Capital Fund were $3.6 billion.

Financial Management: Ending Balance Adjustments to General Ledger Data for the Army General Fund

Financial Management: Ending Balance Adjustments to General Ledger Data for the Army General Fund
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Total Pages: 28
Release: 2002
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The Chief Financial Officers Act of 1990, Public Law 101-576, November 15, 1990, as amended by the Federal Financial Management Act of 1994, Public Law 103-356, October 13, 1994, requires the annual preparation and audit of financial statements. The Army did not publish stand-alone financial statements for FY 2001 due to the loss of financial management personnel sustained during the September 11 terrorist attack. Therefore, we did not audit Army financial information for FY 2001 financial statements. However, Army financial statement information was included in the DoD FY 2001 Agency-Wide Financial Statements. Defense Finance and Accounting Service Indianapolis (Sustaining Forces), hereafter referred to as DFAS IN-SF, provides finance and accounting support to the Army. Support includes maintaining departmental accounting records and compiling financial statements from general ledger trial balances and financial data on the status of appropriations submitted by DoD field accounting entities and other sources. The compilation process is complicated because the financial data submitted to DFAS IN-SF are not generated by integrated, transaction-driven, general ledger accounting systems. For 10 years, DFAS IN-SF has used a complex interim process to combine financial information from diverse accounting and budgetary subsystems to compile the Army General Fund financial statements. DFAS IN-SF made year-end adjustments to force general ledger trial balances to match status-of-appropriations data.

Compilation of the FY 1999 Army General Fund Financial Statements at the Defense Finance and Accounting Service Indianapolis Center

Compilation of the FY 1999 Army General Fund Financial Statements at the Defense Finance and Accounting Service Indianapolis Center
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Total Pages: 26
Release: 2000
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The Defense Finance and Accounting Service Indianapolis Center maintains the Army departmental accounting records and compiles the Army General Fund financial statements. This audit was performed in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994. The Chief Financial Officers Act requires the Inspector General, DoD, to audit the financial statements of DoD organizations in accordance with generally accepted Government auditing standards. We delegated the audit of the FY 1999 Army General Fund financial statements to the Army Audit Agency, but we assisted them by performing some of the audit work at the Indianapolis Center. The Army Audit Agency disclaimed an opinion on the FY 1999 Army General Fund financial statements, and we concurred with the disclaimer of opinion. The FY 1999 Army Consolidated Balance Sheet reported total assets of $72.3 billion and total liabilities of $34.9 billion. The consolidated Statement of Net Cost reported net program costs of $69.8 billion for the period ending September 30, 1999. The combined Statement of Budgetary Resources reported total budgetary resources of $90.6 billion. Our objective was to determine whether the Defense Finance and Accounting Service Indianapolis Center consistently and accurately compiled financial data from field organizations and other sources for the FY 1999 Army General Fund financial statements. We also reviewed the management control program as it related to the objective.

Compilation of the FY 1997 Army General Fund Financial Statements at the Defense Finance and Accounting Service Indianapolis Center

Compilation of the FY 1997 Army General Fund Financial Statements at the Defense Finance and Accounting Service Indianapolis Center
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Total Pages: 32
Release: 1998
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This audit was performed in response to the Chief Financial Officers Act of 1990, as amended by the Government Management Reform Act of 1994. DoD Directive 7650.3 requires that all recommendations be resolved promptly. Our audit objective was to determine whether the DFAS Indianapolis Center consistently and accurately compiled financial data from field activities and other sources for the financial statements of Army General Fund. We reviewed management controls and compliance with laws and regulations related to the objective. Audit Results. The DFAS Indianapolis Center compilation of financial data from field entities and other sources into the FY 1997 Army General Fund financial statements was not in compliance with applicable laws and regulations. The use of status of appropriations data and expenditure data is an unacceptable interim method for compiling the Army General Fund financial statements. This interim compilation process has been in place for over six years. The Army General Fund financial statements, taken as a whole, will not be auditable until a transaction-driven, integrated accounting system based on general ledger accounting is implemented Army-wide.

Compilation of the FY 1998 Army General Fund Financial Statements at the Defense Finance and Accounting Service Indianapolis Center

Compilation of the FY 1998 Army General Fund Financial Statements at the Defense Finance and Accounting Service Indianapolis Center
Author: Inspector general Dept. of defense arlington va
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Total Pages: 27
Release: 1999
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Our objective was to determine whether the DFAS Indianapolis Center consistently and accurately compiled financial data from field activities and other sources for the FY 1998 Army General Fund financial statements. We also reviewed management controls and compliance with laws and regulations related to the objective.

Accounting Entries Made in Compiling the FY 2000 Air Force General Funds Financial Statements

Accounting Entries Made in Compiling the FY 2000 Air Force General Funds Financial Statements
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Total Pages: 34
Release: 2001
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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 audit is one in a series of audits of accounting entries made by the Defense Finance and Accounting Service in preparing the FY 2000 financial statements for DoD. The audit supported the audits of the FY 2000 financial statements for DoD and the Air Force General Funds. The Inspector General, DoD, and the Air Force Audit Agency disclaimed an opinion on those financial statements. The Defense Finance and Accounting Service Denver made $406 billion in accounting entries in three automated systems in compiling the FY 2000 Air Force General Funds Financial Statements. The FY 2000 Air Force General Funds Financial Statements reported total assets of $86.2 billion and total net cost of operations of $80.0 billion.

Compilation of the FY 1996 Army Financial Statements at the Defense Finance and Accounting Service Indianapolis Center

Compilation of the FY 1996 Army Financial Statements at the Defense Finance and Accounting Service Indianapolis Center
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Total Pages: 0
Release: 1998
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The Defense Finance and Accounting Service (DFAS) Indianapolis Center maintains the Army departmental accounting records and compiles the Army General Fund financial statements. The audit objective was to determine whether the DFAS Indianapolis Center consistently and accurately compiled financial information from field activities and other sources into the FY 1966 Consolidated Financial Statements of the Army General Fund. We evaluated the processes, including internal controls and methods that the DFAS Indianapolis Center used to compile the Army FY 1996 General Fund financial statements. In addition, we reviewed the adequacy of the internal control program as it applied to our objectives.

Accounting Entries Made in Compiling the FY 2000 Financial Statements for the Working Capital Funds of the Air Force and Other Defense Organizations

Accounting Entries Made in Compiling the FY 2000 Financial Statements for the Working Capital Funds of the Air Force and Other Defense Organizations
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Total Pages: 36
Release: 2001
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The Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, requires DoD to submit to the Office of Management and Budget annual audited financial statements. This audit is one in a series of audits of department-level accounting entries made by the Defense Finance and Accounting Service in preparing the FY 2000 financial statements for DoD reporting entities. This audit supported the audits of the FY 2000 financial statements for the DoD and the Department of the Air Force Working Capital Fund. The Inspector General, DoD, and the Air Force Audit Agency disclaimed an opinion on those financial statements. The Defense Finance and Accounting Service Denver made $127.7 billion in accounting entries in compiling the FY 2000 financial statements for the working capital funds of the Air Force and three other Defense organizations included in the DoD Agency-Wide financial statements.

Defense Finance and Accounting Service Indianapolis Compilation of Other Defense Organizations General Fund Financial Data

Defense Finance and Accounting Service Indianapolis Compilation of Other Defense Organizations General Fund Financial Data
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Total Pages: 45
Release: 2009
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Personnel at Defense Finance and Accounting Service (DFAS) and other DoD accounting offices supporting the Other Defense Organizations general fund, and preparers and users of the DoD Agency-Wide financial statements would benefit from the results of this audit. DFAS Indianapolis (DFAS-IN) provides accounting and financial reporting support for 42 Other Defense Organizations general funds. DFAS-IN receives trial balance information from field accounting sites, which is used to prepare financial statements and budget reports. These 42 Other Defense Organizations general funds were a reporting component of the FY 2007 DoD Agency-Wide Financial Statements and had $140.5 billion in budget authority for FY 2007. Results of the audit show that DFAS-IN's internal controls were not adequate. We identified a material internal control weakness in accounting adjustments made to Other Defense Organizations general fund accounting records. The accounting adjustments were not sufficiently supported and approved. Specifically, the controls did not ensure that accounting adjustments were properly supported, that journal entries recorded in the accounting system agreed with the control log, and that cost estimates used on journal vouchers were supported and properly classified and disclosed on the financial statements. These internal control weaknesses increased the risk that DoD materially misstated balances reported in the DoD Agency-Wide financial statements. In addition, the lack of footnote disclosures discussed in this report could mislead the users of the financial statements. The Under Secretary of Defense (Comptroller)/Chief Financial Officer should update the DoD Regulation 7000.14-R, "DoD Financial Management Regulation," to include requirements for financial statement footnote disclosures of the amounts of unresolved abnormal balances.