Army struggles with key financial data system
- By Defense Systems Staff
- May 31, 2012
Army financial and system managers did not reengineer the Logistics Modernization Program system to perform Procure-to-Pay functions correctly, leaving the program open to fraud and poor bookkeeping, according to a new report, reports Federal Computer Week.
The LMP system is set up to record accounting transactions for goods and services while also processing data for the Army Working Capitol Fund’s business operations, the story said.
The Defense Department’s inspector general reported that Army managers didn’t provide effective oversight for building the LMP system and setting up system access templates, resulting in a lack of data integrity for the Procure-to-Pay process, according to the report released May 29.
As of Aug. 31, 2011, LMP reported more than $10.6 billion in abnormal balances within the Procure-to-Pay general ledger accounts, the story said.