| Description |
1 online resource (ii, 39 pages) : color illustrations |
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text txt rdacontent |
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computer c rdamedia |
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online resource cr rdacarrier |
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text file PDF rda |
| Note |
"July 2014." |
| Bibliography |
Includes bibliographical references. |
| Contents |
Background -- DOD's actual costs differed considerably from budget estimates since Fiscal Year 2009, due largely to fluctuations in fuel price -- DOD has taken various actions to manage the effect of differences between estimated and actual fuel costs -- DOD has conducted studies on its management of working capital funds, but has not reevaluated its approach or documented its assumptions for estimating fuel costs -- Conclusions. |
| Summary |
DOD purchases bulk fuel and sells it to customers, including the military services. Each fiscal year, DOD sets a standard price for budgeting purposes, endeavoring to closely approximate the price it will pay when it buys the fuel almost a year later. If this price is different than the standard price, DOD may need to take actions to manage its working capital funds -- funds used to purchase fuel and other commodities that are reimbursed through sales. Senate Report 113-44, accompanying a bill for the National Defense Authorization Act for FY 2014, mandated GAO to review DOD's approach for establishing its bulk fuel pricing. This report discusses, among other things, (1) how estimated bulk fuel costs have compared to actual costs since FY 2009 and the factors that have contributed to any differences; and (2) the extent to which DOD has considered options for adjusting its approach to estimating bulk fuel costs and managing working capital funds in light of any differences between estimated and actual fuel costs. GAO compared estimated and actual fuel costs for FY 2009 through 2013 and analyzed DOD actions to manage working capital funds. |
| Note |
Online resource; title from PDF title page (GAO, viewed July 10, 2014). |
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"GAO-14-595." |
| Subject |
United States. Department of Defense -- Rules and practice -- Evaluation.
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United States. Department of Defense -- Planning -- Evaluation.
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United States. Department of Defense -- Appropriations and expenditures.
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United States -- Armed Forces -- Fuel -- Costs.
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| Added Title |
DOD needs to reevaluate its approach to better manage the effects of market fluctuations |
| Gpo Item No. |
0546-D (online) |
| Sudoc No. |
GA 1.13:GAO-14-595 |
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