Army Working Capital Fund
Subtitle: Army faces challenges in managing working capital fund cash balance during wartime environment : report to the Subcommittee on Readiness and Management Support, Committee on Armed Services, U.S. Senate
Contributors: United States. Congress. Senate. Committee on Armed Services. Subcommittee on Readiness and Management Support
Publisher: U.S. Govt. Accountability Office
Published: 2010
Place of publication: Washington, D.C.]
Language: eng
Format: [electronic resource] :
Number of pages: 26
Subjects: Finance; Auditing; Working capital; Cash management; United States. Army; United States
Other titles: Army faces challenges in managing working capital fund cash balance during wartime environment
Description: The Army Working Capital Fund (AWCF) collected over $16 billion for goods and services provided to customers in fiscal year 2009. Cash generated from sales is used by AWCF to cover its expenses such as paying employees. In light of the Army's changing role in the Middle East, GAO was asked to determine whether (1) AWCF's monthly cash balances fell within the Department of Defense's (DOD) cash requirements for fiscal years 2000 through 2009, (2) the cash transfers resulted in AWCF's monthly cash balances falling below the minimum amount required by DOD, and (3) the AWCF's projected monthly cash balances are expected to fall below DOD's minimum cash requirement for fiscal years 2010 and 2011 and actions the Army can take to manage those balances. To address these objectives, GAO (1) reviewed relevant DOD guidance, (2) obtained and analyzed AWCF budget and accounting reports containing cash information, and (3) interviewed DOD and Army officials.
Notes: Title from PDF title page (GAO, viewed June 28, 2010).

"June 2010."

"GAO-10-480."

Includes bibliographical references.

Mode of access: Internet from U.S. Government Accountability Office web site. Adobe Acrobat Reader required.
Table of contents: title: Background; title: AWCF monthly cash balance fluctuated significantly but generally remained above the maximum cash requirement; title: Billions of dollars transferred out of AWCF did not result in a cash balance below the minimum cash requirement except for a 6-month period; title: For fiscal years 2010 and 2011, AWCF-projected monthly cash balances generally exceed the minimum cash requirement; title: Conclusions.