DOD Financial Management Actions Under Way Need to Be Successfully Completed to Address Long-standing Funds Control Weaknesses

In a time of fiscal and budgetary constraints, federal agencies need to make the best use of their allotted funds and demonstrate careful stewardship in their reporting to Congress and the public. The Department of Defense (DOD) is one of the largest and most complex organizations in the world. With over $1 trillion in total budgetary resources, DOD has reported that it obligates an average of $2 billion to $3 billion daily and makes hundreds of thousands of payments, such as payroll, travel, utility, and contract payments, including payments in war zones.