Budgeting for Carryover at Fleet Readiness Centers Could Be Improved
June 30, 2015
June 30, 2015
WASHINGTON, June 30 -- The Government Accountability Office released the following report highlight:
What GAO Found
GAO's analysis of Navy Working Capital Fund Fleet Readiness Centers' (FRC) budgets found that actual adjusted carryover exceeded allowable carryover in 10 of 11 fiscal years reviewed because orders exceeded work performed (revenue) by more than expected. As a result, total carryover grew to about $1 billion at the end of fiscal year 2014. In fiscal yea . . .
What GAO Found
GAO's analysis of Navy Working Capital Fund Fleet Readiness Centers' (FRC) budgets found that actual adjusted carryover exceeded allowable carryover in 10 of 11 fiscal years reviewed because orders exceeded work performed (revenue) by more than expected. As a result, total carryover grew to about $1 billion at the end of fiscal year 2014. In fiscal yea . . .