BRAC Update.

• Author: SCRIVNER, PETER C.
• Position: Military base realignment and closure finance - Brief Article

A new Government Accounting Office (GAO) report sheds new light on military base realignment and closure (BRAC) accounts.

The report blames slow budget execution from previous years for causing a buildup of more than $1.5 billion in unliquidated BRAC obligations from prior appropriations. At least $115 million was appropriated to the BRAC account in 1995, or earlier. The GAO report recommends that the Defense Department conduct reviews on these accounts, close out completed contracts, and consider the availability of remaining funds when formulating new budget requests.

The report also suggests that that...