 |
| |
| |
| |
| |
| |
|
Office of Inspector General |
|
| Title: | Closeout and Payment Processes for Cost-Reimbursable Contracts |
| Date: | January 23, 2001 |
| Type: | Audit |
| FI-2001-018 | |
| Summary: | We found DOT was not properly administering closeout and payment of cost-reimbursable contracts. We also found that DOT did not close contracts in a timely manner, resulting in funds remaining obligated on completed contracts for as long as 12 years. As a result, DOT had little assurance that contractors actually incurred the $294 million on the 448 contracts that were not subjected to independent audits and internal desk audits. We excluded FAA because it uses a different acquisition system from the rest of DOT and will be audited separately. |
 PDF document |