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B-159797 1 (1972-06-20)

handle is hein.gao/gaobaagjh0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOLII'Fr)S OFI'E %a* UI.-1 WASHINGTON, D.C. 20548 DIVISION OF FINANCIALAND JUN 20 1972 GENERAL MANAGEMENT STUDIES LM096521 . fMr. Secretary: We have reviewed selected aspects of the Department of the Air Force accounting and reporting system for the procurement of aircraft and missiles. The-rview was made to determine if the ate-itfft isstem provides adequate controls over appropriated funds and if reports generated are timely, reliable, and used by financial managers. The review was not undertaken for the pur- pose of approving the accounting principles and standards and/or the general design of the system. We interviewed officials; reviewed regulations, manuals, and operating instructions; and tested a limited number of financial transactions relating to selected procurement programs at the Headquarters, United States Air Force; Headquarters, Air Force Systems Comand (APSC); and three AFSC subordinate commands. In general, we found that the system provides controls to en- sure that a proper accounting and reporting is made for the pro- grams authorized by the Congress and for the funds appropriated. The reports produced by the system are used by financial managers at all levels to forecast and track the rates of obligation, peri- odically review the adequacy of program budgets and identify bal- ances available for reprogra g, identify any dormant procure- ment actions, periodically review progress in liquidating obligations and identify contract obligations available for re- coupment, and provide disbursing control. The areas needing improvement are described below. For the most part, the problems described are caused by the decentraliza- tion of funding, procuring, contract administration and disburs- ing activities, and by the complexity of the procurement process itself. EED TO EVALUATE PROCEDURES FOR IDENTIFYIG ILE OBLIGATED FUNDS The Air Force has emphasized the need to identify and deob- ligate excess funds under contracts in order to make the funds available for other authorized purposes through reprogramning 7t~ 1cVT%5(

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