department of defense agency financial report fiscal year 2012

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Department of Defense Agency Financial Report for FY 2012 1.T. Accrued Leave The FMS Trust Fund reports liabilities for military leave and accrued compensatory and annual leave for civilians. Sick leave for civilians is expensed as taken. The liabilities are based on current pay rates. 1.U. Net Position Net position consists of unexpended appropriations and cumulative results of operations. Unexpended appropriations represent the amounts of budget authority that are unobligated and have not been rescinded or withdrawn. Unexpended appropriations also represent amounts obligated for which legal liabilities for payments have not been incurred. Cumulative results of operations represent the net difference between expenses and losses and financing sources (including appropriations, revenue, and gains) since inception. The cumulative results of operations also include donations and transfer in and out of assets that were not reimbursed. 1.V. Treaties for Use of Foreign Bases Not applicable 1.W. Undistributed Disbursements and Collections Undistributed disbursements and collections represent the difference between disbursements and collections matched at the transaction level to specific obligations, payables, or receivables in the source systems and those reported by the U.S. Treasury. Supported disbursements and collections may be evidenced by the availability of corroborating documentation generally support the summary level adjustments made to accounts payable and receivable. Unsupported disbursements and collections do not have supporting documentation for the transactions and most likely would not meet audit scrutiny. However, both supported and unsupported adjustments may have been made to the DSCA Accounts Payable and Receivable trial balances prior to validating underlying transactions required to establish the Accounts Payable/Receivable were previously made. As a result, misstatements of reported Accounts Payable and Receivables are likely present in the DSCA financial statements. Due to noted material weaknesses in current accounting and financial feeder systems, the DoD is generally unable to determine whether undistributed disbursements and collections should be applied to Federal or non-Federal accounts payables/receivable at the time accounting reports are prepared. Accordingly, the FMS Trust Fund and accounts for funds appropriated for security assistance follow the DoD policy, which is to allocate supported undistributed disbursements and collections between Federal and non-Federal categories based on the percentage of distributed Federal and non-Federal accounts payable and accounts receivable. Both supported and unsupported undistributed disbursements and collections are then applied to reduce accounts payable and receivable accordingly. 1.X. Fiduciary Activities Not applicable ADDENDUM B Unaudited Financial Statements – DSCA B-12
Department of Defense Agency Financial Report for FY 2012 1.Y. Military Retirement and Other Federal Employment Benefits Not applicable 1.Z. Significant Events Not applicable NOTE 2. NONENTITY ASSETS Nonentity Assets Dollars in Thousands As of September 30 2012 2011 Intragovernmental Assets Fund Balance with Treasury $ 14,872,317 $ 15,121,753 Total Intragovernmental Assets $ 14,872,317 $ 15,121,753 Non-Federal Assets Cash and Other Monetary Assets $ 20,124,963 $ 18,160,143 Accounts Receivable 707,589 712,582 Other Assets 26,733,628 25,223,804 Total Non-Federal Assets $ 47,566,180 $ 44,096,529 Total Nonentity Assets $ 62,438,497 $ 59,218,282 Total Entity Assets $ 8,121,609 $ 6,302,795 Total Assets $ 70,560,106 $ 65,521,077 Nonentity Assets are assets for which the FMS Trust Fund and the accounts for funds appropriated for security assistance maintains stewardship accountability and reporting responsibility, but are not available for the agency’s operations. Fund Balance with Treasury and Cash and Other Monetary Assets consist of advance deposits from friendly countries and international organizations to facilitate the purchase of U.S. defense articles and services based on future requirement forecasts. Accounts Receivable consist of amounts for interest, fines, and penalties due on debt from loans and non-Federal funds owed to the FMS Trust Fund country accounts that are in litigation at Department of Justice or collection status at DFAS. Some portion of these uncollected funds may be payable to the FMS Administrative Surcharge account, but are not discernible prior to collection. Non-Federal Other Assets consist primarily of advances paid for undelivered defense articles and services intended for future delivery to the FMS customer. ADDENDUM B Unaudited Financial Statements – DSCA B-13
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