Accession Number:

AD1157306

Title:

Initiatives to Improve Free Asset Management

Descriptive Note:

[Technical Report, Congressional Report]

Corporate Author:

COMPTROLLER GENERAL OF THE UNlTED STATES

Personal Author(s):

• Keller, Robert F.
• ,

Report Date:

1977-02-28

Pagination or Media Count:

22

Abstract:

The Department of Defense generates funds by selling equipment which is not required to be replaced in the Departments inventory. Receipts from such sales are called free assets. A past GAO report identified weaknesses in reporting and managing free assets. This follow up report describes the steps taken by the Department to strengthen control over free asset funds. The report also recommends that the Department improve its free asset estimates and its internal coordination in formulating free asset procedures.

Descriptors:

• department of defense
• financial management
• air force
• foreign military sales
• procurement
• standards
• united states
• accounting
• congress
• contracts
• inventory
• accuracy
• business administration
• commodities
• comptrollers
• deficiencies
• logistics

Subject Categories:

• Economics and Cost Analysis
• Logistics, Military Facilities and Supplies

Distribution Statement:

[A, Approved For Public Release]