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Contracting and Finance > DAU > Flashcards

DAU Flashcards

1
Q

RDTE

A

Research, Development, Test, and Evaluation (RDT&E) appropriations fund the efforts performed by contractors and government activities required for the research and development (R&D) of equipment, material, and computer application software.

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2
Q

PROCUREMENT

A

Procurement appropriations fund those acquisition programs that have been approved for production of acquisition objective quantities, and all costs integral and necessary to deliver a useful end item intended for operational use or inventory upon delivery.

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3
Q

O&M

A

Operation and Maintenance (O&M) appropriations fund expenses such as civilian salaries, travel, minor construction projects, operating military forces, training and education, depot maintenance, stock funds, and base operations support.

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4
Q

MILCON

A

Military Construction (MILCON) appropriations fund major projects such as bases, schools, missile storage facilities, maintenance facilities, medical/dental clinics, libraries, and military family housing.

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5
Q

APPROPRIATION

A

Statutory authority provided by an act of Congress that permits Federal agencies to incur obligations and make payments from the Treasury. Appropriations do not represent cash actually set aside in the Treasury; they represent limitations of amounts that agencies may obligate.

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6
Q

Anti-Deficiency Act (ADA)

A

The salient features of this Act are prohibitions against authorizing or incurring obligations or expenditures in excess of amounts apportioned by the Office of Management and Budget (OMB) or in excess of amounts permitted by agency regulations.

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7
Q

Base Year (BY)

A

A reference period that determines a fixed price level for comparison in economic escalation calculations and cost estimates. The price level index for the BY is 1.000.

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8
Q

BURDEN

A

Costs that cannot be attributed or assigned to a system as direct cost. An alternative term for Overhead.

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9
Q

BURN RATE

A

The monthly rate at which a contractor’s funds are expended during the period of the contract.

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10
Q

Buy American Act (BAA)

A

Provides that the U.S. government generally give preference to domestic end products. (Title 10 U.S.C. § 41 A D). This preference is accorded during the price evaluation process by applying punitive evaluation factors to most foreign products.

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11
Q

Change Order

A

A unilateral order, signed by a government contracting officer (CO), directing the contractor to make a change under the provisions of the Changes clause.

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12
Q

Change Proposal

A

A proposed change to the defense program that is a fact-of-life adjustment, the programmatic resource offsets to fund a fact-of-life adjustment, and a limited number of other issues.

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13
Q

Commercial Item

A

Any item, other than real property, that is of a type customarily used for nongovernmental purposes and that has been sold, leased, or licensed to the general public; or has been offered for sale, lease, or license to the general public.

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14
Q

Commitment

A

An administrative reservation of funds by the comptroller in anticipation of their obligation.

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15
Q

Continuing Resolution

A

Legislation enacted by Congress to provide Budget Authority (BA) for specific ongoing activities in cases in which the regular Fiscal Year (FY) appropriation has not been enacted by the beginning of the FY.
A CR usually specifies a designated period and maximum rate at which the agency may incur obligations based on the rate of the prior year

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16
Q

Contract Authority

A

A type of budget authority (BA) that permits a federal agency to incur obligations before appropriations have been passed or in excess of the amount of money in a revolving fund.

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17
Q

Contract Award

A

Occurs when the contracting officer (CO) has signed and distributed the contract to the contractor.

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18
Q

Contract Categories

A

There are two broad categories: fixed price contracts and cost-reimbursement contracts.

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19
Q

Contract Data Requirements List (CDRL)

A

A DD Form 1423 list of contract data requirements that are authorized for a specific acquisition and made a part of the contract.

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20
Q

Contract, Cost Plus Award Fee (CPAF)

A

A cost reimbursement type contract. Suitable for level of effort where measurement of achievement must be by subjective evaluation rather than objective measurement.

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21
Q

Contract, Cost Plus Fixed Fee (CPFF)

A

A cost reimbursement-type contract that provides for the payment of a fixed fee to the contractor. The fixed fee, once negotiated, does not vary with actual cost, but may be adjusted as result of any subsequent changes in the scope of work or services to be performed under the contract.

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22
Q

Cost Reimbursement Contract

A

A type of contract that provides for payment to the contractor of allowable costs incurred in the performance of the contract, to the extent prescribed in the contract.

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23
Q

Firm Fixed Price (FFP) Contract

A

Provides for a price that is not subject to any adjustment on the basis of the contractor’s cost experience in performing the contract. This type of contract places upon the contractor maximum risk and full responsibility for all costs and resulting profit or loss.

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24
Q

Contracting Officer (CO)

A

A person with authority to enter into, administer, and/or terminate contracts and make related determinations and findings for the U.S. government.

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25
Q

Cost Estimate

A

A judgment or opinion regarding the cost of an object, commodity, or service. A cost estimate may constitute a single value or a range of values.

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26
Q

Cost Reimbursement Contracts

A

In general, a category of contracts whose use is based on payment by the government to a contractor of allowable costs as prescribed by the contract.

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27
Q

Determination and Findings (D&F)

A

A special form of written approval by authorized officials. Required by statute or regulation as a prerequisite to taking certain contracting actions.

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28
Q

Direct Cost

A

Any cost specifically identified with a particular final cost objective. It is not necessarily limited to items that are incorporated into the end product as labor or material.

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29
Q

Direct Labor

A

Labor specifically identified with a particular final cost objective.

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30
Q

Disbursements

A

In budgetary usage, gross disbursements represent the amount of checks issued, cash, or other payments less refunds received.

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31
Q

Expenditure

A

An actual disbursement of funds in return for goods or services. Frequently used interchangeably with the term outlay.

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32
Q

Federal Acquisition Regulation (FAR)

A

The regulation used by federal executive agencies for acquisition of supplies and services with appropriated funds.

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33
Q

Future Years Defense Program (FYDP)

A

A DoD database and internal accounting system that summarizes forces and resources associated with programs approved by the Secretary of Defense (SECDEF). Its three parts are the organizations affected, appropriations accounts, and the 11 major force programs.

34
Q

Incremental Funding

A

The phasing of total funding of programs or projects over two or more fiscal years (FYs) based upon levels and timing of obligational requirements for the funds.

35
Q

Independent Government Cost Estimate (IGCE)

A

An estimate of the cost for goods and/or estimate of services to be procured by contract. Such estimates are prepared by government personnel, i.e., independent of contractors.

36
Q

Initial Capabilities Document (ICD)

A

Summarizes a capabilities-based assessment (CBA) and recommends materiel or non-materiel approaches to satisfy specific capability gaps.

37
Q

Job Order (JO)

A
  1. ) A formal instruction to perform certain work according to specifications, estimates, etc.
  2. ) Descriptive of a cost system whereby costs are accumulated by job orders.
38
Q

Mean Time Between Failure (MTBF)

A

For a particular interval, the total functional life of a population of an item divided by the total number of failures (requiring corrective maintenance actions) within the population. The definition holds for time, rounds, miles, events, or other measures of life unit.

39
Q

Mean Time To Repair (MTTR)

A

The total elapsed time (clock hours) for corrective maintenance divided by the total number of corrective maintenance actions during a given period of time.

40
Q

Memorandum of Agreement (MOA)

A

Any written agreement in principle as to how a program will be administered.

41
Q

Memorandum of Understanding (MOU)

A

De facto agreement that is generally recognized by all partners as binding even if no legal claim could be based on the rights and obligations delineated therein.

42
Q

Non-Appropriated Funds (NAF)

A

Monies derived from sources other than congressional appropriations, primarily from the sale of goods and services to DoD military and civilian personnel and their dependents and used to support or provide essential morale, welfare, recreational, and certain religious and education programs.

43
Q

Non-Materiel Solution

A

Changes in doctrine, organization, training, materiel, leadership and education, personnel, facilities (DOTMLPF), or policy (including all human systems integrations domains) to satisfy identified functional capabilities.

44
Q

Obligation

A

Amount representing orders placed, contracts awarded, services received, and similar transactions during an accounting period that will require payment during the same, or a future period.

45
Q

Outlays

A

The amount of checks issued or other payments made (including advances to others), net of refunds and reimbursements. Outlays are net of amounts that are adjustments to obligational authority.

46
Q

Out-Years

A

Normally, the years beyond the year being worked in the upcoming budget. If the budget for Fiscal Year (FY) 2014–2015 is being prepared, out-years are FY 2016 and beyond.

47
Q

Packing, Handling, Storage, and Transportation (PHST)

A

The resources, processes, procedures, design considerations, and methods to ensure all system, equipment, and support items are preserved, packaged, handled, and transported properly.

48
Q

Prime Contractor

A

The entity with whom an agent of the United States enters into a prime contract for the purposes of obtaining supplies, materials, equipment, or services of any kind.

49
Q

Privity

A

A direct contractual relationship between the parties. A prime contractor has privity with an agent of United States and also with its subcontractors that are under contract to it. The government does not have privity with the prime contractor’s subcontractors

50
Q

Program Objectives Memorandum (POM)

A

The final product of the programming process within DoD, a component’s POM displays the resource allocation decisions of the military department

51
Q

Purchase Order (PO)

A

A contractual procurement document used primarily to procure supplies and nonpersonal services when the aggregate amount involved in any one transaction is relatively small (e.g., not exceeding $25,000).

52
Q

Reimbursable

A

An expenditure made for another agency, fund, or appropriation, or for a private individual, firm or corporation, which subsequently will be recovered.

53
Q

Request for Proposal (RFP)

A

A solicitation used in negotiated acquisition to communicate government requirements to prospective contractor and to solicit proposals.

54
Q

Request for Quotation (RFQ)

A

A solicitation used in negotiated acquisition to communicate government requirements to prospective contractors and to solicit a quotation.

55
Q

Sole Source Acquisition

A

A contract for the purchase of supplies or services that is entered into or proposed to be entered into by an agency after soliciting and negotiating with only one source.

56
Q

Solicitation

A

In contracting, the term means to go out to prospective bidders and request their response to a proposal.

57
Q

Statement of Work (SOW)

A

That portion of a contract that establishes and defines all nonspecification requirements for contractor’s efforts either directly or with the use of specific cited documents.

58
Q

Statement of Objectives (SOO)

A

That portion of a contract that establishes a broad description of the government’s required performance objectives.

59
Q

Sunk Costs

A

Costs already incurred. Because they are in the past, they are not germane to decisions about the future use of resources.

60
Q

Supplemental Agreement

A

Bilateral written modification to a contract by which the government and the contractor settle price and/or performance adjustments to the basic contract.

61
Q

Working Capital Fund (WCF)

A

Revolving funds within DoD that finance organizations that are intended to operate like commercial businesses. WCF business units finance their operations with cash from the revolving fund; the revolving fund is then replenished by payments from the business units’ customers.

62
Q

WYPC

A

Work Year Personnel System - controlled by DFAS; official source for civilian personnel work year and execution data. Used to create monthly civilian personnel labor cost reports.

63
Q

CFMS

A

Command Financial Management System - web based system that provides access to financial data for allocation and execution.

64
Q

SMART

A

Summarized Management Analysis Resource Tool - Cost tracking and analytical application used to monitor costs and expenses.

65
Q

DCPS

A

Defense Civilian Pay System - Standard DoD pay system. Maintains pay and leave records, deductions, witholdings, time, and attendance employee data.

66
Q

SABRS

A

Standard Accounting Budgeting and Reporting System - Produces data to support automated and auditable financial statements.

67
Q

GT&C

A

General terms and conditions - defines the terms and conditions of use for solutions and services; defines rights and obligations.

68
Q

Fixed Price Contract Types

A
  • Firm Fixed Price
  • Firm Fixed Price with Price Adjustments
  • Fixed Price Incentive
  • Firm Fixed Price Level of Effort
  • Fixed Price Award Fee
69
Q

Military Construction

A
  • Available for five years
  • Congress appropriates
  • Development, conversion, construction, or extension
  • Projects exceeding $2M require congressional approval
70
Q

Operations and Maintenance

A

One year period of availability

  • Base operations support
  • Training exercises
  • Deployments
  • Minor construction
  • Maintenance and repair work
  • Unit cost less than $250K
71
Q

RWA

A

Reimburseable Work Action - Interagency agreement between GSA and a tenant where GSA recovers its costs for providing services in GSA managed space.

72
Q

Unauthorized Commitment

A

An agreement that is not binding solely because the government representative who made it lacked the authority to enter into an agreement on behalf of the US Government.

73
Q

Contract Terminations

A

Termination for Cause, Failure to Deliver, Failure to make progress

74
Q

SPOT

A

Tracks contractor personnel who accompany armed forces; near real time reporting.

75
Q

Contract Options

A

Provide the government with the ability to order additional quantities of supplies or additional periods of service.

76
Q

CLIN

A

Contract Line Item Number

77
Q

PIIN

A

Procurement Instrument Identification Number

  • Positions 1-6: DoD activity
  • Positions 7-8: Fiscal Year
  • Position 9: Instrument type
    a) BPA
    b) Contracts of all types
    c) IDIQ
    d) Federal Supply Schedule
  • Position 10: Serial number
  • Position 11: Supplemental
78
Q

Price Estimate

A

Used for products, equipment, and simple services that are routinely available on the open market at competitive prices.

79
Q

Cost Estimate

A

Detailed estimate that requires a breakdown of costs anticipated in performance of the contract.

80
Q

ODC

A

Other Direct Costs - material and equipment; travel, consultants, subcontracts.

81
Q

Direct Labor

A

Labor applied directly to the performance of contract requirements.

Contracting and Finance (1 decks)

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