Controls Over Army Real Property Financial Reporting
INSPECTOR GENERAL DEPT OF DEFENSE ARLINGTON VA
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This report discusses the processes and controls needed to ensure accurate and complete financial reporting of real property assets. A well-designed process for reporting real property on financial statements employs standard data elements and transaction processes, consistent internal controls, and efficient transaction entry. DoD real property consists of land, buildings, and other structures improvements to owned or leased real property assets and real property assets under construction. The Army reports real property assets on the financial statements for the Army Working Capital Fund AWCF, the Army General Fund, and the U.S. Army Corps of Engineers, Civil Works. Real property acquisition costs reported on the FY 2006 AWCF Financial Statements consisted of 2.2 billion in buildings and other structures, 95 million in leasehold improvements, and 37 million in construction-in-progress. This is the first of two reports related to the controls over AWCF real property assets.
- Economics and Cost Analysis
- Logistics, Military Facilities and Supplies
- Administration and Management