assistant secretary of the army financial management and comptroller joint reconciliation program
DESCRIPTION
Assistant Secretary of the Army Financial Management and Comptroller Joint Reconciliation Program. Data Integrity of Army Personal Property. November 20, 2003. Financial Reporting Overview. Army prepares quarterly financial statements for OSD, OMB and Congress. - PowerPoint PPT PresentationTRANSCRIPT
Assistant Secretary of the ArmyFinancial Management and
Comptroller
Joint Reconciliation Program
November 20, 2003
Data Integrity of Army Personal Property
2
Financial Reporting Overview
Army prepares quarterly financial statements for OSD, OMB and Congress.
The data reported in the Army’s financial statements presents the annual performance and year-end values that are subject to external audit.
The objectives of financial reporting include: Providing reliable and relevant financial data to Army leaders and
decision makers.
Providing reasonable knowledge of the Army’s business and economics.
Providing comparable and consistent information.
3
Personal Property is reported into the Army’s financial statements from four systems:
Army Medical Department Property Accounting System (AMEDDPAS) solely used by MEDCOM
Automated Personal Property Management System (APPMS) solely used by USACE
Defense Medical Logistics Standard Support (DMLSS) is currently replacing AMEDDPAS
Defense Property Accountability System (DPAS) used by all MACOMs except MEDCOM and USACE
As of 30 SEP 2003, Army Personal Property was reported at an acquisition value of $4.2B with a depreciated book value of $1.1B
Financial Reporting Personal Property
4Financial Reporting IssuesPersonal Property
Capital assets not being depreciated
Assets with erroneous residual values
Lack of visibility of Government furnished equipment
Lack of visibility of internal use software
Lack of annual inventory of assets
5
Capital Assets Not Being Depreciated
$54,415
$9,862
$30,281$27,196
$41,073
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
FY02 4QTR FY03 1QTR FY03 2QTR FY03 3QTR FY03 4QTR
108
42
206
139
78
0
50
100
150
200
250
FY02 4QTR FY03 1QTR FY03 2QTR FY03 3QTR FY03 4QTR
Value(in thousands)
Numberof Records
Financial Reporting MetricsPersonal Property
6
Residual Value on Capital Assets
$267
$1,452
$536
$896
$1,745
$0$200$400$600$800
$1,000$1,200$1,400$1,600$1,800$2,000
FY02 4QTR FY03 1QTR FY03 2QTR FY03 3QTR FY03 4QTR
12
31
44
1612
05
101520253035404550
FY02 4QTR FY03 1QTR FY03 2QTR FY03 3QTR FY03 4QTR
Value(in thousands)
Financial Reporting MetricsPersonal Property
Numberof Records
7
Government Furnished Equipment on DPAS
$738
$344
$0$200$400$600$800
$1,000$1,200$1,400$1,600$1,800$2,000
FY02 4QTR FY03 4QTR
Note: Estimated Value of Army GFE is $5 billion
160
71
050
100150200250300350400450500
FY02 4QTR FY03 4QTR
Value(in thousands)
Financial Reporting MetricsPersonal Property
Numberof Records
(in thousands)
8
Internal Use Software on DPAS
$119
$28
-$10
$10
$30
$50
$70
$90
$110
$130
$150
FY02 4QTR FY03 4QTR
64
50
0102030405060708090
100
FY02 4QTR FY03 4QTR
Value(in thousands)
Financial Reporting MetricsPersonal Property
Numberof Records
9
Assets on DPAS Reported as NotInventoried Within Three Years
(as of September 2003)
Number of Records
Value of Records
Percent of Total Records
1,047,633 $1.7 billion 12%
Financial Reporting MetricsPersonal Property