Air Force

October 12, 2012

Fiscal 2012: Books finally closed

Editor’s note: This is first in a series of articles on finance.

Air Force financial managers take pride in executing the ABCs — accounting, budget and cost. Accounting is the first, and arguably, the most important competency.

Did you know the Air Force prepares annual financial statements just like civilian companies? These financial statements are available to the public at http://comptroller.defense.gov.

Every September financial managers, contracting professionals, resource advisors and Air Force leaders work in haste to ensure every available dollar is spent wisely to meet the mission needs; however, we often allow this focus of fiscal year end close-out distract us from the real mission behind Sept. 30.

As the chief financial officer (AKA comptroller) of Luke Air Force Base, one of my responsibilities is to ensure the accounting database is complete, concise, accurate and auditable. After the Sept. 30 drills of spending every available dollar, the financial managers in the 56th CPTS continue to work for the next three to four days to ensure every single transaction is properly and accurately detailed in the accounting system. These professionals chase thousands of documents to ensure every dollar spent is aligned to the proper general accounting ledger in our system. In other words, we strive to ensure the taxpayer knows when Luke Air Force Base reports we spent $2,000 on a temporary duty assignment that the $2,000 actually was spent on the TDY. We strive to produce accurate and reliable financial statements.

Accurate financial statements are crucial to the other two competencies of financial management — budgeting and cost. Without accurate financial statements, budgeteers cannot accurately request Congress to provide a budget which will meet the mission needs. If we don’t know how we really spent last year’s dollars, how can we possibly make a credible argument when we ask for next year’s dollars? Similarly, cost estimaters rely on sound accounting data when building their cost estimates. And, perhaps more importantly, the American taxpayers depend on the data in our financial systems to stay informed on how the country is spending their hard earned dollars. Needless to say, the old saying of “garbage in, garbage out” truly applies in the world of Air Force accounting.

As I prepare to certify the 56th Fighter Wing’s and tenant units fiscal 2012 accounting statements (in our world titled the “DBT”), I find myself reflecting more and more on how important the three to four days after Sept. 30 truly are. The past several years have been met with tough economic times for millions of American citizens, and the importance of providing these people with the most accurate data possible weighs heavy on my shoulders.

So, here goes. “I, to the best of my knowledge, certify the accounting database at Luke Air Force properly and accurately reflects all transactions as it properly should.” Signed, Maj. Jessi R. Rozman




All of this week's top headlines to your email every Friday.


 
 

 
Courtesy Photo

Luke 1 holds first commander’s call

Courtesy Photo Brig. Gen. Scott Pleus, 56th Fighter Wing commander, begins his first commander’s call at Luke Air Force Base Monday. Pleus took command of the fighter wing June 20. Brig. Gen Scott Pleus, 56th Fighter Wing com...
 
 
Senior Airman Marcy Copeland

Luke F-35 mission scores 100th sortie

Senior Airman Marcy Copeland An F-35A Lightning II joint strike fighter makes an approach to land Tuesday at Luke Air Force Base. The fighter jet was concluding the 100th F-35 sortie flown at Luke. Luke Air Force Base launched ...
 
 
6-140821-F-LC301-007

Sponsoring Airmen makes big difference for them

A permanent change of station can be overwhelming for the Airman coming from technical training school or for the family who feels as though they have moved a thousand times, but having a sponsor can make all the difference whe...
 

 

Air Force News – August 29, 2014

New Mexico Airmen from every specialty completed a four-day deployment exercise Aug. 20 at Holloman Air Force Base as part of the Air Force Commander’s Inspection Program. Air Force’s CIP was rolled out 2013 and specifically focuses on the bases’ ability to rapidly deploy combat-ready Airmen and equipment worldwide. Romania Mihail Kogalniceanu Air Base started...
 
 

People First – August 29, 2014

Editor’s Note: The “People First” section is compiled from information from the Air Force Personnel Center, TRICARE, 56th Force Support Squadron, Airman and Family Readiness Flight, Veterans Affairs, the civilian personnel office and armed forces news services. For the complete story, go to the web address listed at the end of the story. Call for...
 
 

Program smooths change from military to civilian life

It can be difficult to find work in today’s economy, even more so for families that are moving to a new area or families that are transitioning from military to civilian life. One program available to veterans is the Workforce Investment Act, which can help veterans have a smooth transition to civilian work. The 56th...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


Directory powered by Business Directory Plugin