Budget and Spending : Newport News Shipbuilding and Dry Dock Company
Budget and Spending : Newport News Shipbuilding and Dry Dock Company
Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137.cU S Government Accountability Office (G
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Author: U S Government Accountability Office (G
Page Count: 24 pages
Published Date: 16 May 2013
Publisher: Bibliogov
Publication Country: United States
Language: English
ISBN: 9781287192961
Download Link: Budget and Spending Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy Psad-78-137
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A firm filed five claims with the Department of the Navy involving interest expense and lost interest income totaling about $77 million. The financing claims would be governed by cost-sharing provisions of contracts, and the contractor estimated that about $29.9 million of the requested financing costs would be reimbursed if the claims were approved. GAO found the interest calculated by the company to be higher than reasonable based on more realistic rates of interest than those used by the company and more appropriate methodologies for determining bases for calculation of interest. The differences between amounts calculated by the company and GAO resulted from the company's use of estimated interest rates when actual data were available, its exclusion of actual government escalation payments on one contract which increased the base upon which financing costs were computed, failure to reasonably allocate total shipyard monthly borrowings to individual claims, and inclusion of amounts for compensating balances exceeding actual amounts required for bank borrowings.
Read online Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137 Buy and read online Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137 Download Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137 for pc, mac, kindle, readers Download to iPad/iPhone/iOS, B&N nook Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137
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Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137.cU S Government Accountability Office (G
Author: U S Government Accountability Office (G
Page Count: 24 pages
Published Date: 16 May 2013
Publisher: Bibliogov
Publication Country: United States
Language: English
ISBN: 9781287192961
Download Link: Budget and Spending Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy Psad-78-137
---------------------------------------------------------------
A firm filed five claims with the Department of the Navy involving interest expense and lost interest income totaling about $77 million. The financing claims would be governed by cost-sharing provisions of contracts, and the contractor estimated that about $29.9 million of the requested financing costs would be reimbursed if the claims were approved. GAO found the interest calculated by the company to be higher than reasonable based on more realistic rates of interest than those used by the company and more appropriate methodologies for determining bases for calculation of interest. The differences between amounts calculated by the company and GAO resulted from the company's use of estimated interest rates when actual data were available, its exclusion of actual government escalation payments on one contract which increased the base upon which financing costs were computed, failure to reasonably allocate total shipyard monthly borrowings to individual claims, and inclusion of amounts for compensating balances exceeding actual amounts required for bank borrowings.
Read online Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137 Buy and read online Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137 Download Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137 for pc, mac, kindle, readers Download to iPad/iPhone/iOS, B&N nook Budget and Spending : Newport News Shipbuilding and Dry Dock Company's Claims Against the Department of the Navy: Psad-78-137
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