Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
113 Cards in this Set
- Front
- Back
- 3rd side (hint)
What are the four major functions in DoD finance? |
Entitlements Payments Collections Control of public funds |
|
|
What is the primary organization in DOD with the responsibility for finance requirements? |
The defense finance and accounting service (DFAS) |
|
|
What is the acronym for disbursing office identification numbers? |
Dispersing station symbol numbers (DSSN) |
|
|
What three primary types of officials are accountable individuals in the DOD? |
1. Certifying officer 2. Dispersing officer 3. Departmental accountable officials |
|
|
Debt collection includes collection of debts from what three groups? |
1. Current employees and military members 2. Former employees and military members 3. Vendors |
|
|
What is the normal debt collection method for active military members and civilian employees who are still in service? |
Salary offset |
|
|
When collecting debts owed by vendors that have failed to properly respond to the demand letters, what is the next step? |
Do not pay list |
|
|
When in doubt about the proper use of an appropriation, what may a dispersing officer request from OSD general counsel on the proprietary of the perspective payment? |
An advance decision |
|
|
To what, along with accountability, does certification equate? |
Liability |
|
|
Who, besides the dispersing officer, is likely to be held accountable for an improper payment? |
The certifying officer |
|
|
if a civilian employee receives less than 90% of his or her normal bi-weekly pay and allowances, what may he or she request? |
Special pay |
|
|
when a civilian employee moves from a job overseas to a job in the states, which organization pays for the permanent duty travel? |
The "losing" activity (OCONUS activity in this example) |
|
|
Name two key forms that provide accountability and control by dispersing officers |
Standard form 1219 Statement of accountability (monthly) DD form 2657 Daily statement of accountability |
|
|
Which individuals hold personal and pecuniary liability for their actions in financial transactions? |
1. Certifying officers 2. Dispersing officers 3. Departmental accountable officials |
|
|
How often does the dispersing officer need to inspect and document office security measures? |
Semi-annually |
|
|
Who has oversight for the defense finance and accounting service (DFAS) agency? |
USD comptroller |
|
|
What financial regulation provides DOD components with specific policy, regulations, and procedures to which they must adhere? |
DoD 7000.14R (aka FMR) |
|
|
What are the volumes that specifically affect finance in the DOD FMR? And what does each section reference? |
Volume 1: General info & requirements Volume 5: accounting Volume 6A: disbursements Volume 7A: active duty & reserve pay Volume 7B: retired pay Volume 8: civilian pay Volume 9: travel Volume 10: contract payment |
|
|
Name the six most important laws that regulate financial managers |
1. US code title 10 (armed forces) 2. Debt collection improvement act of 1996 (P.L. 104-134) 3. Final rule on prompt payment (5 CFR 1315) 4. Federal acquisition regulations (FAR) 5. Certifying officer legislation (P.L. 104-106 section 913) 6. 31 USC 3325, 3528, 3529 |
|
|
What are the four steps in the entitlement process? |
Entitling Authorization Voucher preparation Certification |
|
|
Who collects the required data during the entitlement process? |
Department accountable officer |
|
|
Who certifies the data during the entitlement process? |
Certifying officer |
|
|
Who writes the check during the entitlement process? |
Dispersing officer |
|
|
What US code prohibits dispersing officers from preparing and auditing their own vouchers? |
31 USC 3521(a) |
|
|
Which act requires that certifying officers shall always be personally liable for any wrong payment or over-obligation of government funds? |
National Defense Authorization Act of 1996 (public law 104-106) |
|
|
According to public law 104-106 (the national defense authorization Act of 1996), when should certifying officers be independent and organizationally separate from dispersing officers? |
Whenever practical |
|
|
When are departmental accountable officials held pecuniary liable? |
For erroneous payments resulting from information, data or service they negligently provided to a certifying officer |
|
|
When are certifying officers held pecuniarily liable? |
For erroneous payments |
|
|
What form do certifying officers and defense accountable officials sign to accept responsibility for being an accountable individual? |
DD Form 577 |
|
|
Why do advanced decision requests for DoD go to the general counsel instead of the Comptroller General? |
DoD's policy is the general council decision will insulate the dispersing officer or certifying officer from any liability associated with an erroneous payment |
|
|
How are advance decisions communicated? |
In writing |
|
|
True or false: a dispersing officer is eligible for appointment as a certifying officer and can appoint a certifying officer. |
False. Internal control practices required that certifying officers be independent and organizationally separate from dispersing officers, whenever practical. |
|
|
Sending a social security check to a deceased individual is an example of what? |
Improper payment |
|
|
For FY17, what was the largest area of DOD improper payments? |
Travel pay program |
|
|
In FY17, federal agencies reported an estimated $____ in government wide improper payments. |
$140.9B |
|
|
FY17 resulted in a decline of how much money reported for FY16 estimated federal improper payments? |
Decrease of about $3.6 billion dollars between FY16 and 17 |
|
|
When can military personnel receive special pay? |
It's dependent on a particular position, or particular duty |
|
|
What are some examples of military special pay? |
Hazardous duty, submarine duty, medical or dental officer |
|
|
How many leave days are military members entitled to each year? |
30 days |
|
|
Upon separation or retirement, how many days of unused leave can military members "sell back?" |
Up to 60 days |
|
|
Name four allowances military members are entitled to above scheduled pay |
1. Subsistence (food) 2. Quarters (housing) 3. Clothing or uniforms 4. Personal allowances |
|
|
When certifying military pay entitlements what two categories are allotments divided into? |
Discretionary and non-discretionary |
|
|
In regards to Military pay entitlements, what is the difference between discretionary and non-discretionary allotments? |
A military member can only elect up to six discretionary allotments. Members are allowed an unlimited number of non-discretionary allotments for specific categories |
|
|
Name six areas related to certifying civilian pay entitlements |
1. Certification of time and attendance 2. Work hours 3. Premium pay 4. Leave hours 5. Internal controls for civilian pay 6. Establishment and control of employee pay records |
|
|
How many hours are associated with certifying civilian pay entitlements? |
2080 hours |
|
|
Name the six types of leave hours for civilian pay entitlements |
1. Family friendly leave Act 2. Federal employees leave sharing act 3. Excused absence 4. Bone marrow or organ donor leave 5. Leave without pay 6. Family & medical leave Act |
|
|
The family friendly leave act allows employees to use sick leave to provide for family members and significant others. How many hours can an employee use a sick leave under this act? |
Up to 104 hours |
|
|
Can a civilian contribute leave hours to an immediate supervisor through the federal leave sharing program? |
No (see FMR V8 Ch5) |
|
|
How many days of leave are provided for civilians that donate bone marrow or organ donor leave? |
Bone marrow: up to 7 days Organ: up to 30 days |
|
|
How long does the family medical leave Act provide job protected unpaid leave during a 12-month period? |
Up to 12 work weeks |
|
|
Where are the sum of civilian pay records contained and how long are they retained for? |
In a master pay record for a 56 years |
|
|
How often does the DOD FMR volume 8 chapter 1 require a reconciliation of civilian employee pay records? |
At least every four months |
|
|
Any mismatches identified during reconciliation of civilian employee pay records must be resolved within how many days? |
Within 10 days of identifying the mismatch |
|
|
Who determines the deduction rate for civilian employees' federal income tax withholdings? |
GSA |
|
|
What is it called when personal leave is added on to work travel? |
Permissive/administrative travel time |
|
|
Travel orders are prepared on what form? |
DD Form 1610 |
|
|
What phrase needs to be included on a travel order in order for the traveler to deviate from the original itinerary? |
"variations authorized" |
|
|
If personal leave is added to work travel, do per diem and transportation allowances apply? |
No |
|
|
Questionable travel claims are initiated by _____ when they believe something to be illegal or improper. |
Certifying officer |
|
|
Doubtful travel claims are those in which _____ questions the decision of a certifying officer concerning an entitlement determination |
The traveler |
|
|
After completion of official travel, what form must the travelers submit to receive payments? |
Travel voucher (DD Form 1351-2) |
|
|
What funding would NAF employees be paid with? |
Non-appropriated funds unless travel was requested by and supports a govt org |
|
|
All cost associated with a civilian Permanent Duty Travel (PDT) are normally charged to the gaining or losing activity? |
Gaining activity appropriation |
|
|
What are the exceptions that require the losing activity to pay for PDT? |
1. Between agencies or DoD components: Reduction in force/transfer under DoD Priority Placement Program 2. Within same DoD component: RIFs/Transfers, BRAC moves, from OCONUS to CONUS, from OCONUS to Hawaii/Alaska |
|
|
True or false: OCONUS activities always pay the fee for PDT, regardless if they're gaining or losing personnel. |
True |
|
|
Name the 4 criteria required for an advance payment to a contractor |
1. KTR provides adequate security 2. Is in the public interest or facilitates national defense 3. The amount doesn't exceed the unpaid contract price 4. Terms of the contract allow it |
|
|
What are the four items that compose a payment package for vendors? |
1. Copy of the purchase order or contract 2. Proper invoice 3. Receipt of the product or service 4. Acceptance of the product or service |
|
|
What is the difference between a receipt and acceptance of the product or service? |
Receipt means the product or service was delivered or completed. Acceptance is when a government rep certifies the product or service conforms to the terms of the contract |
|
|
What is required in order for DFAS to make a payment on a contract? |
1. Copy of PO or contract 2. Invoice 3. Receipt of product or service 4. Acceptance of product or service |
|
|
What is constructive acceptance? And when does it occur? |
Per the prompt payrolls, it occurs no later than 7 days after acceptance documents have not been received in a timely manner |
|
|
What did the prompt payment act of 1982 implement? |
Required the government to pay vendors in a timely manner or pay interest |
|
|
How do you calculate the net payment due date? |
1. Add 7 days to date the goods or services were received (constructive acceptance) 2. Take the earlier of the constructive acceptance and actual acceptance dates 3. Compare results and step two with the date invoice was received and take the later of the two 4. Add 30 days to the result of step 3 to get due date |
|
|
If goods were received on June 1st, accepted on June 6th and the invoice received June 3rd, When is the payment due? |
July 6th Constructive Acceptance = 6/8 Actual Acceptance = 6/6 Invoiced received = 6/3 1. 6/8 vs 6/6 (take earlier date) 2. 6/6 vs 6/3 (take later date) 3. Add 30 days to 6/6 |
|
|
A contractor offers a discount to the government of "2/10 Net 30" in exchange for early payment of invoice. When does the government need to submit payment to receive the discount and how much is the discount? |
2% discount off the invoice if paid within 10 days of the invoice date, otherwise the full amount is due in 30 days |
|
|
Who updates interest rates for the government when invoices are paid late and where is it published? |
Interest rates are updated every 6 months and are set by the secretary of the treasury. Rates are published in the federal registrar and the Treasury's website |
|
|
Which agency has responsibility for performing and/or overseeing all dispersing functions? |
Defense finance and accounting service (DFAS) |
|
|
Which agency has responsibility for performing and/or overseeing all dispersing functions? |
Defense finance and accounting service (DFAS) |
|
|
All requests for establishing a dispersing office must be sent through the requester's chain of command to which agency? Which activities are in exception to this process? |
DFAS. Only tactical dispersing activities are exempt |
|
|
Any tactical unit, such as Navy ships, are authorized to provide dispersing services under what code? |
Dispersing station symbol number (DSSN) |
|
|
Payments and disbursements to federal agencies are made via what system? |
The treasury's intragovernmental payment and collection (IPAC) system |
|
|
Since disbursement vouchers are consecutively numbered and prepared in permanent, non-erasable ink, what must happen before the corrected voucher is complete? |
Corrected vouchers require recertification before disbursement |
|
|
Which Department of the Treasury is responsible for managing the government's daily cash position? |
Treasury's Bureau of the Fiscal Service |
|
|
If a disbursement of over $500 million is anticipated, what is the minimum number of business days advance notice is required? |
5 business days |
|
|
What is the normal practice in DOD for notifying the Treasury's Bureau of the Fiscal Service about large upcoming disbursements? |
USD comptroller sends a monthly report providing data about the plan disbursements for the next month |
|
|
What are the three exceptions for electronic funds transfer (EFT)? |
1. Vendor Express 2. Government purchase cards 3. Card acquiring service (CAS) |
|
|
Government P-card holders will retain copies of their monthly statements of account and supporting paperwork for how long? |
6 years and 3 months after the end of the associated fiscal year |
|
|
What are the three types of collections? |
Receipts, reimbursements, and refunds |
The three "R"s |
|
Almost 90% of IPAC transactions pertain to what payments and collections between federal agencies? |
Buy and sell transactions |
|
|
Which legislation had a major impact on the administration of debt management? |
The debt collection improvement act of 1996 (public law 104-134) |
|
|
The debt collection improvement act of 1996 specifically requires any debt not in litigation and more than ____ days old be referred to the US Treasury for action. |
180 days |
|
|
If a current military member or civilian employee owes money to DOD, how are they notified and how is the debt collected? |
One letter will be sent to explain how much is owed and why. If the amount is not paid then it's taken out of their paycheck |
|
|
If a debt owed by a former military member, a former civilian employee, or an individual without former service exists, where can the collection be referred to? |
Referral to the IRS (collect past-dues) or Justice Department (for litigation) |
|
|
Write-offs can be applied to debt collection actions of what dollar threshold? |
Less than $600 |
|
|
Which standards require the issuance of one debt notification letter to the debtor? Who is responsible for sending the letter? |
Federal claims collection standards (FCCS) and the payment office is responsible for issuing debt notification letters |
|
|
Debt collection efforts can be initiated by whom? |
Either the contracting office (KO) or a debt collection office (DCO) |
|
|
Is it considered an erroneous payment if a contract mod results in a reduced amount due to the contractor but a disbursement has already been paid for a higher amount? |
No |
|
|
What are the thresholds for delinquent debts getting referred to the debt management office (DMO)? |
$25+ if a contractor has a tax ID# $100+ if a contractor doesn't have a tax ID# |
|
|
What initiative is used to verify whether a commercial entity is eligible to get a contract? |
Do not pay (DNP) initiative |
|
|
Who is responsible for safeguarding public funds and the related documents? |
DoD dispersing officers |
|
|
Dispersing officers must provide what in order to secure resources associated with public funds? |
A separate container, such as a safe, to secure those funds |
|
|
How often does the dispersing officer need to make an inspection regarding office security measures? |
At least semi-annually |
|
|
Irregularities in a dispersing officer's account are categorized as what? And what is the dollar threshold? |
Physical losses. Major loss involves $750+ and fraud. Minor loss involves less than $750 and no evidence of fraud |
|
|
If a check isn't delivered within 60 days after the date of issue and is subsequently disposed of, then the check will be processed on a schedule of canceled or undelivered checks. Name the associated form. |
SF 1098 |
|
|
What is the Barring Act (31 USC 3702)? |
Requires the government to receive a claim within six years from the time a claim accrues (other than foreign entitlements) |
|
|
What form is associated with the daily statement of accountability? |
DD 2657 |
|
|
What form is associated with a statement of accountability? |
SF 1219 |
|
|
What form is associated with the daily agent accountability summary? |
DD Form 2665 |
|
|
What form is associated with the statement of agent officer's account? |
DD Form 1081 |
|
|
What form is associated with the voucher control log? |
DD Form 2659 |
|
|
What form is associated with a deposit ticket? |
SF 215 |
|
|
What system is used to transfer money into the treasury? |
Over the counter channel application (OTCnet) |
|
|
Name the five elements that must be included on a disbursement voucher |
1. Heading and date (name and mailing address for dispersing office, date it was prepared, dispersing office voucher number and info required in the "paid by" or "brief" block) 2. Accounting classification to be charged 3. Amount to be dispersed 4. Method of disbursement (EFT, Treasury check, cash, no-check/voucher for transfer) 5. Payee |
|
|
Who is responsible for the information stated in the voucher and its supporting records? |
Certifying official |
|