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Financial Compliance Checklist Flashcards

(70 cards)

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1
Q

How long do original acquisition documents need to be retained for property?

A

Documents shall be retained for the life of the property, plus three years beyond disposition.

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2
Q

The UAP must be ________ and signed electronically by the ______.

Can this signature be delegated?

A

Written
Signed by CO

Can not be delegated

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3
Q

How often should the UAP be updated?

A

At least annually whenever key FPD personnel change duties

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4
Q

How long should UAPs be retained?

A

Three years

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5
Q

Who is required to be listed on the UAP?

A

Any FOD user who records or approves commitments and or obligations.

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6
Q

How many years back should reconcilers be checking for PES reports?

A

5 years

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7
Q

Why are reconcilers assigned?

A

For the purpose of ensuring checks and balances to mitigate the risk of inaccuracies.

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8
Q

What are the four things the reconciler needs to do?

A
  1. Reconcile PES weekly until account closed
  2. Monitor obligations
  3. Advise program element managers of any inconsistencies or inaccuracies discovered.
  4. Assist program element managers with verifying the accuracy of validation and certification reporting.
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9
Q

How long are expired funds available before the account is closed?

A

5 years

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10
Q

How often do obligation balances need to be validated for all appropriations?

A

Quarterly until closed

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11
Q

How often should periodic reviews of the validation of obligation balances for any obligation no longer needed be?

A

Every 30 days until it is deobligated.

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12
Q

When it is determined that funds are no longer needed, they must be deobligated within how many days?

A

30 days or at fiscal-year closeout, whichever comes first

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13
Q

After accounts are certified, if your unit has been selected for audit, how many days do you have to submit a signed copy of your certification?

A

14 days

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14
Q

The top _______ percent by dollar value of all obligations will be validated at lease once per quarter, while the lower ______ percent by dollar value will be validated at least _____ per fiscal year.

A

80%
20%
Once per fiscal year

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15
Q

How often should all obligations be monitored?

A

On a monthly basis

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16
Q

All obligations shall be validated to ________ if the requirements still exist.

A

Identify

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17
Q

Obligations less than ______ days old are excluded from OOVA.

A

90

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18
Q

Obligations requiring validation will be displayed in OOVA and must be validated at least ______ days before the end of the quarter.

A

5

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19
Q

Files for firm-fixed-price contracts, other than those using simplified procedures, should be closed within _______ after the date on which the contracting officer receives evidence of physical completion.

A

6 months

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20
Q

Files for contracts requiring settlement of indirect cost rates should be closed within ________ of the month in which the contracting officer receives evidence of physical completion.

A

36 months

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21
Q

A contract file shall not be closed if:

  1. 2.
A
  1. The contract is in litigation or under appeal.

2. In the case of termination, all termination actions have not been completed.

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22
Q

How long does PCT documentation need to be retained?

A

3 years

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23
Q

What is pipeline?

A

The pipeline is all legal obligations not recorded in the financial system at the end of the quarter or fiscal year-end.

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24
Q

How is pipeline calculated?

A

TYNOP minus PES errors and adding any adjusting pipeline entries.

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25
FPD account are certified at how many levels? What are they?
3 Program Element Manager Management review Official ATU Budget Officer/HQ Funds Manager
26
How many levels does CAS certification occur at?
One | CAS Certifier
27
In BMTS, score _______ percentage or high are considered excellent.
84%
28
For BMTS, C4IT SC has se the minimum performance standard at what percentage for current year accounts? For prior year accounts?
85% | 90%
29
What is the most common reason BMTS scores are low?
Reconciliation being performed poorly or late. 4 out of the 5 measures used to determine the score are controlled through PES reconciliation.
30
What is PES Reconciliation?
A reconciliation of the CAS General Ledger (GL) to the local unit ledger for each line of accounting.
31
On the PES report, what must a transaction match exactly to qualify for CAT I?
Document ID number Accounting Line Dollar amount
32
In the New PES Inbox what does is mean if the account ID is: Green Red Black
Green - a new PES is available for processing Red - new PES is not available for processing Black - for a partial PES report
33
What is the recolonization threshold automatically set at?
$50
34
How long does Fincen have to respond to errors?
30 days
35
Transactions should not remain unresolved for more than ____ days.
14
36
What are the minimum requirements for an asset to be recorded in Oracle FAM?
1. Cost 2. Acquisition Date 3. Tag Number 4. Serial Number 5. Manufacturer 6. Model Number 7. Description 8. INC 9. Custodian code 10. Detailed location
37
What is the minimum information required on each property label?
USCG Name of Unit Tag Number
38
How often shall the PC request new property reports from the APO?
At least annually to verify changes made during the year.
39
All motor vehicles and trailers (including boat trailers) with DHS or state/territory/district license plates must be accounted for in _______.
Oracle FAM
40
Vehicles shall be identified in Oracle FAM using the ______ as the serial number and ______ as the tag Number.
VIN as serial | License plate as tag
41
Are GSA leased vehicles tracked in Oracle FAM?
No, they are not CG assets.
42
Who do you report Heritage Assets to?
Commandant (CG-09224)
43
Who must approve all loan agreements of heritage assets?
CG-09224
44
What INC code is used for original artwork?
ART01
45
What INC code is used for heritage artifacts?
ART02
46
What INC code is used for models?
MOD01
47
What INC code is used for original pieces of art that lack historical significance and or artistic merit?
ART22
48
What is Aviation Material Type 3?
Aeronautical material, except avionics, with a $250 or lower unit price.
49
What is Aviation Material Type 5?
Avionics material with an $800 or lower unit price.
50
What are the five types of equipment that are considered non-inventory items?
1. Pre-Expended Bin (PEB), shop stock, OSI (Operating Space Items) 2. MWR items purchased with NAFs 3. Allowance Equipage List 4. General Use Consumable List 5. Medical Store Room Items
51
What is the price limit to be considered PEB material?
$50 or less
52
What types of items cannot be considered PEB?
- Depot Level Repairables - Controlled, sensitive and pilferable items - Hazardous/flammable items
53
What is the demand level to be considered PEB material?
Five or more demands a month unit wide or two or more demands per month from the same department.
54
Shop stock items may not exceed a ______ Supply.
6 month supply
55
What are the 5 criteria that must be met in order to carry inventory in a retail inventory?
1. Consumable items only. 2. One demand per year or more. 3. Unit price of $1,000 or less. 4. No more than 6 month inventory level will be stocked. 5. No redistribution or mail/freight if inventory to end user (over the counter sales only).
56
How many days will industrial stock not exceed?
60 day Supply
57
For OM&S inventory: how long are issues, receipts, CBL, self audits, ROS, adjustment forms etc be kept?
Maintained for three fiscal years plus current fiscal year.
58
Can personal items and non-storeroom items be stored in unit storerooms?
Not without the CO approval. If approved, these items shall be tagged with the CO’s signature or that of a delegates individual.
59
In addition to labeling inventory with the appropriate identification number, what information should be included on storage labels?
1. Condition Code of item 2. Quantity 3. Unit of issue
60
``` CG units shall ensure the following measures are taken for inventory maintained in the unit’s storage areas: 1 2 3 4 5 ```
1. Retain repair parts in their original packaging until issued 2. Repackage those items, which were inadequately or improperly packaged. 3. Report material received in an unsatisfactory condition using a SDR 4. Provide adequate protection of RFI material and unserviceable MTR/DLR inventory awaiting transfer.
61
Who is responsible for overall storage, security and inventory control of material stored on supply storage areas?
The supply Officer or designated individual
62
What considerations shall be used when determining storage locations?
1. Type of material 2. Quantity to be stored 3. Characteristics (ie flammable, Hazmat) 4. Number of storage spaces 5. Size and shape of storage spaces 6. Condition code of material
63
Storeroom stock of different material conditions (eg A, F and J) and OSI items ________ be stored or co-located in one location.
Shall not
64
What is the minimum number of alpha-numeric digits needed for a storage location? What is the max?
5 | 8
65
On afloat units, what is the preferred layout for storage location numbering?
Numeric should be consecutively assigned from forward to aft, and from port to starboard, starting with the foremost compartment starting with 01A1A. Numbering begins at the far left, nearest the main entry and proceeds clockwise.
66
For units with more than _____ storage locations, the first _______ characters must be numeric.
99 | Three
67
Shipboard storage _______ require an alphabetic ore-fix. For shoreside storage, indicate ____ for warehouse, ______ for shed and ______ for trailer.
Does not W for warehouse S for shed t for trailer
68
How often are units required to conduct self checks to validate the accuracy of OM&S quantities? What are these self checks known as?
Quarterly Statistical Random Samples
69
For a Statistical Random Sample, what is the accuracy percentage that must be met or exceed to pass?
95%
70
What happens when units fail to meet the 95% accuracy goal for two consecutive statistical random counts or the 4th quartet sample count?
The unit shall complete a wall to wall inventory within 20 days of the signature date for the last physical inventory.

SWE (11 decks)

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