FINANCE Flashcards
What is the FRMM?
Its the Financial Resource Management Manual
What is the SAP Manual?
Its the Simplified Acquisition Procedures Manual
What is continuing resolution?
Continuing resolution is stopgap legislation enacted to continue operations whenever congress and the president have not completed action on appropriations by the beginning of the fiscal year.
What is operating with no appropriations?
Occasionally a fiscal year will begin with neither a regular appropriation nor a continuing resolution in place. In this situation the CG is authorized to spend funds to provide for national security, to protect life and property and to carry out orderly suspension of nonessential operations.
AFC 30?
General operating expenses including ordnance
AFC 42?
Electronic system logistics support program
AFC 43?
Civil engineering
AFC 45?
Naval engineering logistics support program
AFC 56?
Training
AFC 77?
Reimbursable execution accounts
What is the Anti-Deficiency Act?
Personnel are authorized to administer and control funds are responsible for seeing that funds expended or obligated do not exceed the amount allotted to them. It applies to expired and closed as well as current appropriations
Where is the reference for authorized Chain of Command expenses?
FRMM
Where is the reference for authorization Retirement Recognition?
FRMM
What is the units quarterly spend down rates?
1st quarter - 75%
2nd quarter - 50%
3rd quarter - 25%
4th quarter - 99.75%
What is the form number that all operational clothing needs to be documented on?
AF 538
Can you go to KINKO’S for you printing and reproduction needs?
No the GPO is the only authorized source of supply for any and all printing services. GPO is NON RATIFIABLE
What will happen if a unit is found to have split a purchase?
Ratification, member may have to pay out of pocket for items
What does the term splitting purchases mean?
.