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FGMSD-76-74 1 (1976-11-05)

handle is hein.gao/gaobaabqv0001 and id is 1 raw text is: 
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                                                                         I     I I II

                                                                            LM100082

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                   REPORT TO THE HOUSE


                   COMMITTEE ON APPROPRIATIONS


                   BY THE COMPTROLLER GENERAL

                   OF THE UNITED STATES
      1G








                   Serious Breakdown i n

                   The Army's Financial

                   Management Systems



                   Thc Army has exper-'ncd a  c   .-..
                   down in the financial manageinent and con-
                   trol over its procurement appropriations,
                   resulting in several violations of the Anti-
                   Deficiency Act. Overobligations totaling $205
                   million in three appropriations have been
                   reported to the President and the Congress.
                   Also the Army is preparing violation reports
                   on two additional appropriations and is in-
                   vestigating possible violations in eight others.

                   The Army has been engaged in a compre-
                   hensive effort to correct its inancial records
                   and identify specific causes of the violations.
                   The Army should design its accounting sys-
                   tems to conform oiith GAO's accounting
                   principles and standards and Fubmit its sys-
                   tems to GAO for approval. GAO is continuing
                   its review to find out if the Army is taking
                   the corrective measures to rmst ,re integrity
                   to its financial management ..Vstems.


NOV. 5,1976


FG.mSO- 76-74

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