NAVSUP P-485, Volume 1, Chapter 9 Financial Management Flashcards Preview

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Flashcards in NAVSUP P-485, Volume 1, Chapter 9 Financial Management Deck (55)
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1

Who provides Operations and Maintenance, Navy (O&M, N) obligation authority for a twelve-month fiscal year?

Congress

2

Who grant each ship or activity funding authority in the form of Operating Targets (OPTARs) to obtain the material and services necessary for day-to-day operations?

TYCOMs

3

What type of funds are derived from the activity's projected obligations and expenditures based on the amount used during the previous twelve (12) months and the operating schedule for the next twelve (12) months?

OPTAR

4

What OPTAR category provides funds for obtaining material or services used in the daily operation of the activity?

OFC-20, Supplies and Equipage (S&E)

5

What type of funding is often referred to as Equipment Maintenance Related Material (EMRM) or Other for the general use consumables?

OFC-20, Supplies and Equipage (S&E)

6

What OPTAR category provides funds used for repair work conducted on other afloat units and service crafts by activities with Intermediate Maintenance Activity (IMA) capabilities?

OFC-20, Repair of Other Vessels (ROV)

7

What funds are used to provide work or services to another TYCOM or government activity when directed by an activity's own TYCOM?

Reimbursable

8

What OPTAR is provided to fund the procurement of material and services necessary to support the Aircraft Maintenance Department at aviation activities?

OFC-50, Aviation Operations Maintenance (AOM)

9

Provided to aviation squadrons, what OPTAR is used to procure fuel consumed in flight, flight crew clothing and administrative material for support of the squadron?

OFC-1, Flight Operations (FLTOPS)

10

What OPTAR is used for Fleet Initial Outfitting for Individual Material Readiness List (IMRL) and Marine Table of Basic Allowance (TBA)?

OFC-09

11

What OPTAR is used for aircraft support, other (includes support for automated data processing equipment support, and drones and targets)?

OFC-10

12

What OPTAR is used for

initial outfitting and replacement of aircraft photographic equipment?

OFC-15

13

What OPTAR is used for

travel of personnel in connection with aviation-related travel?

OFC-21

14

What OPTAR is used for

transportation of material?

OFC-23

15

Who passes legislation known as appropriation acts to provide funds for various military programs?

Congress

16

The Department of Defense has set up what plan to establish planned force structure and financial levels for military departments that covers a 5 year period?

Future Years Defense Plan

(FYDP)

17

Funds are appropriated through annual, continuing, and what other appropriations?

Multiple-year

18

What appropriations are made for current operations and maintenance expenses of the Department of the Navy?

Annual

19

What appropriation is available for obligation during the fiscal year of the appropriation and for payment of these obligations for six years thereafter?

Annual

20

What type of appropriation becomes available at the beginning of the fiscal year following the appropriation act?

Continuing

21

What type of appropriation remains available until exhausted or until the purpose specified in the appropriation act has been accomplished?

Continuing

22

What type of appropriation is available for incurring obligations for a definite period in excess of one fiscal year?

Multiple-year

23

What type of appropriation is the amount fixed by Congress that an activity may not exceed when obligating or expending funds for certain objects or purposes?

Appropriation Limitations

24

What is a separate account of monetary resources established for a particular purpose, time period, or both?

Fund

25

What type of funds account for receipts and expenditures of the funding category?

General

26

What type of funds are established to account for receipt and expenditures of items earmarked for a particular purpose?

Special

27

What type of funds such as the Navy Working Capital Fund (NWCF) are set up to be self-sustaining?

Revolving

28

Navy inventory managers under whom manage wholesale inventories?

Navy Inventory Control Point (NAVSUP WSS) in Philadelphia and Mechanicsburg

29

What activity maintains official accounting records for activities for OM&N accounting under the Standard Accounting and Reporting System (STARS)?

DFAS

Defense Finance and Accounting Service

30

What accounting refers to the performance of accounting functions for a group of OPTAR holders by a different, separate OPTAR holder or other activity.

Consolidated