NCJ Number
237703
Date Published
January 2012
Length
68 pages
Annotation
This audit report from the U.S. Department of Justice, Office of Inspector General, contains the annual financial statements for fiscal year 2011 for the Assets Forfeiture Fund and Seized Asset Deposit Fund.
Abstract
Highlights of the analysis of financial statements for the Assets Forfeiture Fund and Seized Asset Deposit Fund (AFF/SADF) for fiscal year (FY) 2011 include the following: during FY 2011, 10 fraud cases resulted in forfeiture income of $733.6 million, an increase of 16 percent from FY 2010 forfeiture income; total assets managed by AFF/SADF increased by 71.7 percent, from $3,999.8 million in FY 2010 to $6,869.6 million in FY 2011; total liabilities of the funds increased by 120.9 percent in FY 2011, going from $2,312.4 million in FY 2010 to $5,109.1 million in FY 2011; net costs of operations in FY 2011 was $1,663.9 million, an increase of 29.5 percent from FY 2010; and net position of the fund increased to $1,760.5 million, an increase of 4.3 percent from FY 2010. This audit report from the U.S. Department of Justice, Office of Inspector General, contains the annual financial statements for FY 2011 for the AFF/SADF. The audit was performed by KPMG LLP in accordance with generally accepted government auditing standards for FY 2010 and FY 2011. The audit firm issued an unqualified opinion on the FY 2011 financial statements, meaning that the statements "present fairly, in all material aspects, the financial position and the results of the entity's operations in conformity with U.S. generally accepted accounting principles." The report includes Management's Discussion and Analysis; the Independent Auditor's Reports - Report on Financial Statements, Report on Internal Control over Financial Reporting, and Report on Compliance and Other Matters; and Principal Financial Statements and Related Notes - Consolidated Balance Sheets, Consolidated Statements of Net Cost, Consolidated Statements of Changes in Net Position, Combined Statements of Budgetary Resources, and Notes to the Principal Financial Statements. Tables and figures