Financial Management: Existence of U.S. Army Corps of Engineers Buildings and Other Structures

摘要

We performed an examination attestation to establish beginning balances for the audit of the Principal U.S. Army Corps of Engineers (USACE), Civil Works, Financial Statements for the Fiscal Years Ending September 30, 2004 and 2003. USACE reports General Property, Plant, and Equipment (PP AND E) as an asset line item on the Civil Works Balance Sheet. For FY 2003, the net book value of PP AND E was $30.9 billion. Buildings and other structures comprised $18.3 billion of the total PP AND E. For FY 2004, the net book value of PP AND E was $28.4 billion. Buildings and other structures comprised $16.1 billion of the total PP AND E. The net book value represents the difference between the historical acquisition (book) cost and the associated accumulated depreciation of the assets. As of September 30, 2003, USACE had about 40,000 structures located at about 1,273 field sites in the continental United States, Alaska, and Hawaii.