Compiling and Reporting FY 2000 Navy Working Capital Fund Intragovernmental Transactions

摘要

We conducted this audit in support of our annual audit of the DoD agency-Wide financial statements for FY 2000, as required by the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994. This report is the fourth report in a series on the FY 2000 Navy Working Capital Fund Financial Statements. The previous reports discussed inventory valuation, problems with a financial feeder system, and endorsed the Naval Audit Service disclaimer of opinion on the financial statements. The FY 2000 Navy Working Capital Fund Financial Statements reported $25.1 billion in assets, $6 billion in liabilities, $19.1 billion in net position, and $18.3 billion in intragovernmental transactions. Intragovernmental transactions are transactions that occur within and among general fund and working capital fund organizations, DoD, and the Federal Government. These intragovernmental transactions should be identified and eliminated, as appropriate, when an entity prepares consolidated financial statements.