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AFMD-92-77ML 1 (1992-07-08)

handle is hein.gao/gaobachoj0001 and id is 1 raw text is: GAO United State General Accounting Office Far East Office P.O. Box 50187 Honolulu, HI 96850 B-242974 July 8, 1992 Lieutenant General Johnnie H. Corns, USA Commander, U.S. Army Pacific Fort Shafter, Hawaii 96858-5100 Dear General Corns: 147117 We recently completed a comprehensive review of the U.S. Army's financial management systems and operations. The primary objectives of this review were to assess the Army's internal control systems and audit the fiscal year 1991 financial statements pursuant to the Chief Financial Officers Act of 1990 (Public Law 101-576). Within your command, most of our work was conducted at the U.S. Army Support Command Hawaii (USASCH), which provides management services and logistics support to the Army's Hawaii region. As discussed with your staff, we generally found that financial reporting and internal controls provided reasonable assurance that internal control objectives were achieved for many aspects of your operations. However, we identified several controls that need to be strengthened to ensure that all transactions are accurately reported and properly supported by documentation. Although not material to the Army's fiscal year 1991 financial statements, we believe inaccurate financial information at the installation level can cause the Army's overall financial reports to be misleading and can negatively affect decisions that are based in whole or in part on these reports. Specifically, we found the following. There was no assurance that account balances were correct for equipment, real property, and outstanding travel advance accounts on the installation general ledger trial balance, as of September 30, 1991. The causes for abnormal account balances' and large unexplained variances between fiscal year-end 1990 and 1991 for some stock fund general ledger balances were not determined. Generally, specific classes of accounts will carry normal or predictable balances. An abnormal account balance usually refers to a credit balance in an account which normally has a debit balance, such as a credit balance in an asset account. GAO/AFMD-92-77ML o 54 q Q /f/ TH

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