Headline News
Af, Navy Air Funds Total $10 Billion
Air Force and Navy started fiscal 1955 on July 1 with approximately $10 billion in funds for aircraft and related procurement on hand for obligations during the year, final bookkeeping recordings are expected to show. As of June 1, one month before the beginning of the new fiscal year, the two services had $6.8 billion in unobligated aircraft and related procurement funds on hand: USAF, $5.4 billion; Navy, $1.4 billion.