Foreign Currency Exchange Rate Fluctuation Funds

Gao ID: ID-81-54 August 21, 1981

GAO reviewed the contingency funds approved by Congress to cover shortages, caused by foreign currency exchange rate fluctuations, in the Department of Defense's (DOD) overseas programs. The objective of the review was to evaluate the effectiveness of procedures for using and accounting for those funds.

GAO found the procedures to be generally effective, but noted inconsistencies among the military services in handling exchange rate fluctuations for some programs and activities and a few relatively minor operating deficiencies.

Recommendations

Our recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.

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