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Assistant Secretary of the Army Financial Management and Comptroller Joint Reconciliation Program

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.

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Assistant Secretary of the Army Financial Management and Comptroller Joint Reconciliation Program

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  1. Assistant Secretary of the Army Financial Management and Comptroller Joint Reconciliation Program Data Integrity of Army Personal Property November 20, 2003

  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. Financial Reporting Personal Property • 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

  4. Financial 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. Financial Reporting MetricsPersonal Property Capital Assets Not Being Depreciated Value (in thousands) Number of Records

  6. Financial Reporting MetricsPersonal Property Residual Value on Capital Assets Value (in thousands) Number of Records

  7. Financial Reporting MetricsPersonal Property Government Furnished Equipment on DPAS Number of Records (in thousands) Value (in thousands) Note: Estimated Value of Army GFE is $5 billion

  8. Financial Reporting MetricsPersonal Property Internal Use Software on DPAS Value (in thousands) Number of Records

  9. Financial Reporting MetricsPersonal Property Assets on DPAS Reported as NotInventoried Within Three Years (as of September 2003)

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