Author: Publisher: DIANE Publishing
ISBN: 142894446X
Category :
Languages : en
Pages : 59
Book Description
DOD contract management overpayments continue and management and accounting issues remain.
Author: Publisher: DIANE Publishing
ISBN: 142894446X
Category :
Languages : en
Pages : 59
Book Description
Dod Contract Management
Author: Gregory D. KutzPublisher: DIANE Publishing
ISBN: 9780756735920
Category : History
Languages : en
Pages : 156
Book Description
Dod Contract Management
Author: United States Government Accountability OfficePublisher: Createspace Independent Publishing Platform
ISBN: 9781984997906
Category :
Languages : en
Pages : 60
Book Description
DOD Contract Management: Overpayments Continue and Management and Accounting Issues Remain
Dod Contract Management
Author: U. S. Government Accountability Office (Publisher: BiblioGov
ISBN: 9781289096298
Category :
Languages : en
Pages : 62
Book Description
Since GAO reported on Department of Defense (DOD) contractor overpayments in 1994, additional reports have been issued highlighting billions of dollars of overpayments to Defense contractors. In December 2001, Congress amended Title 31 of the United States Code to require a federal agency with contracts totaling over $500 million in a fiscal year to have a cost-effective program for identifying payment errors and for recovering amounts erroneously paid to contractors. DOD contractors' responses to GAO's survey indicate that they have millions of dollars of overpayments on their records and that they are continuing to refund overpayments-- about $488 million in fiscal year 2001. DOD has taken actions to address problems with contractor overpayments. In addition to its contract audit functions and as part of a broad based program to assist the Defense Contract Management Agency (DCMA) and the Defense Finance and Accounting Service (DFAS), the Defense Contract Audit Agency (DCAA) is auditing at least 190 large DOD contractors to identify overpayments and ensure that contractors have adequate internal controls for prompt identification and reporting of overpayments. Although DOD has several initiatives to reduce overpayments, it still does not yet have basic administrative control over contractor debt and underpayments because its procedures and practices do not fully meet federal accounting standards and federal financial system requirements for the recording of accounts receivable and liabilities. As a result, DOD managers do not have important information for effective financial management, such as ensuring that contractor debt is promptly collected.
DOD Contract Management
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Defense contracts
Languages : en
Pages : 54
Book Description
DOD Contract Management
Author: DOD Contract Management
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Defense contracts
Languages : en
Pages : 22
Book Description
Contract management excess payments and underpayments continue to be a problem at DOD.
Author: Publisher: DIANE Publishing
ISBN: 1428946691
Category :
Languages : en
Pages : 33
Book Description
We have reported over the last several years that the Department of Defense (DOD) annually overpaid its contractors by hundreds of millions of dollars and that in some cases these excess payments were not being promptly returned. In response, you requested that we look at the scope of excess payments and underpayments. Specifically, this report examines, for DOD contract payments, the following issues.
Dod Contract Management
Author: U S Government Accountability Office (GPublisher: BiblioGov
ISBN: 9781289087807
Category :
Languages : en
Pages : 24
Book Description
Pursuant to a congressional request, GAO updated its previous report on the Department of Defense's (DOD) overpayments to contractors and subsequent refunds to the Defense Finance Accounting Service (DFAS), focusing on: (1) DOD's efforts to identify and recover overpayments made through fiscal year (FY) 1998; and (2) whether 13 contractors were retaining overpayments and how quickly overpayments were refunded. GAO noted that: (1) in the 5 years between FY 1994 and 1998, defense contractors returned about $4.6 billion to the DFAS Columbus Center--in FY 1998, $746 million; (2) the Center attributes most of the returned money to overpayments caused by factors outside its control; (3) however, payment errors by the Center were also a factor; (4) it took about a year, on average, before the 13 contractors refunded overpayments of $56.2 million to the Center; (5) in addition, four of the contractors were still retaining overpayments totalling $1.1 million; (6) after GAO brought these overpayments to the contractors' and the government's attention, the contractors refunded the overpayments; (7) a Defense Contract Management Command area office also instructed its personnel to ask contractors reporting overpayments to immediately return the money; (8) in some cases, government personnel were aware of the overpayments, but they did not take timely action to obtain recovery; (9) under law, there is no requirement for contractors who have been overpaid to notify the government of overpayments or to return overpayments prior to the government issuing a demand letter; (10) the Center has a sizable and growing backlog of contracts waiting to be examined to ensure that contractors were properly paid--a process called reconciliation; (11) reconciliation has often resulted in claims against contractors for overpayments; (12) the longer a contract remains unreconciled, the longer any overpayment identified through reconciliation will remain undetected, and the greater will be the government's loss of the timely use of these monies; and (13) further, delays in seeking return of overpayments may result in increased difficulty in collection or actual monetary loss to the government.
Contract Management
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Defense contracts
Languages : en
Pages : 48
Book Description