Public Law 101-576, the "Chief Financial Officers Act of 1990", November 15, 1990, as amended by Public Law 103-356, the "Federal Financial Management Act of 1994," October 13, 1994, requires DoD and other Government agencies to prepare annual audited financial statements. This is the third in a series of reports related to the FY 1999 Department of the Navy (Navy) General Fund financial ... [Show full abstract] statements. For FY 1999, the Navy reported $125.8 billion in assets, $54.4 billion in liabilities, $83.9 billion in budget authority, and $8.1 billion in intragovernmental transactions. Intragovernmental transactions are transactions that occur within and among general fund organizations, DoD, and the Federal Government. Intragovernmental transactions should be disclosed or eliminated, as appropriate, when an entity prepares consolidated financial statements.