Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Financial Management: Navy Industrial Fund Has Not Recovered Costs

  Premium   Download PDF Now (34 pages)
Report Type Reports and Testimonies
Report Date March 23, 1993
Report No. AFMD-93-18
Subject
Summary:

The Navy industrial fund provides such services as depot maintenance for ships and aircraft, as well as transportation for its customers, which include military groups, civilian agencies, and foreign governments. For fiscal years 1989 through 1991, the Navy industrial fund activities reported sales of nearly $50 billion. Although some of the fund's activities earned profits, the fund reported overall net operating losses of more than $794 million during this period. The aviation depots and shipyards incurred most of these losses. This report (1) determines why the Navy industrial fund incurred these losses and (2) assesses the appropriateness of fiscal year 1993 pricing practices.

« Return to search Government Accountability Office reports