Appropriations/Funds & Profits

Question 1

How does the Navy receive funds to operate, train, and maintain fleet readiness?

Answer 1

Through an appropriation authorized by congress

Question 2

The 2013 fiscal year begins when?

Answer 2

1 October, 2012

Question 3

The fiscal year for the ships store is separated into haw many accounting periods?

Answer 3

Accounting Periods - 3

a. 31 January
b. 31 May
c. 30 September

Question 4

When are ships store financial reports detailing returns submitted to DFAS?

Answer 4

At the end of each accounting period

Question 5

How does DFAS receive payment for the purchase order?

Answer 5

“Fast Pay” Invoice

Question 6

How many types of appropriations do we have?

Answer 6

3 Types -

a. Annual
b. Continuing
c. Multi-year

Question 7

What is the purpose of an Annual Appropriation?

Answer 7

To cover all expended and obligated funds for the fiscal year

Question 8

When do Annual Appropriations become available?

Answer 8

At the beginning of the fiscal year

Question 9

Fiscal year obligated funds remain available for a maximum of how long?

Answer 9

For a period of 6 years from the end of the fiscal year from which obligated funds were obligated

Question 10

What appropriation is good until the project is complete?

Answer 10

Continuing Appropriation

Question 11

Name 3 examples of programs that are supported by a continuing appropriation?

Answer 11

a. Shipbuilding
b. Research & Development
c. Public Works

Question 12

For a project that requires a large amount of advance planning and will incur obligations for a definite period of time, exceeding 2 years or more, would be covered by what type of appropriation?

Answer 12

Multiple-year Appropriation

Question 13

What is the purpose of the account classification system?

Answer 13

To classify type and/or purpose of expenditures and to designate the authority responsible for recording expenditures

Question 14

How many elements comprise the accounting classification system?

Answer 14

9 Elements -

a. Appropriation (7 digits) 17x8723
b. Subhead (4 digits) 2301
c. Object class (3 digits) 000
d. Bureau Control Number (5 digits) 21001
e. Sub-allotment (1 digit) 0
f. Authorization Accounting Activity (6 digits) 000250
g. Transaction Type (2 digits) 21
h. Property Accounting Activity (6 digits) v20012
i. Cost Code (12 digits) 0V0000075401 (V=Atlantic, R=Pacific, N=Ashore)

Question 15

The appropriation code consists of how many alpha numeric characters?

Answer 15

7

Question 16

What number signifies Department of Defense?

Answer 16

97

Question 17

What number signifies Department of the Navy?

Answer 17

17

Question 18

The letter ‘x’ signifies what type of appropriation?

Answer 18

Continuing Appropriation (Indefinite)

Question 19

Which element identifies the charges to the appropriation or fund, indicated in element 1, for that particular transaction?

Answer 19

2nd Element (Subhead)

Question 20

What specific element of the accounting classification code represents the allotment authorization number?

Answer 20

4th Element (Bureau Control Number)

Question 21

Which element of the Accounting Classification Code is used to permit processing stores account processes by machines?

Answer 21

7th Element (Transaction Type)

Question 22

Name and explain the 4 transaction types

Answer 22

a. 7C- Purchase of stock for ships store chargeable to NWCF.
b. 1J- Transferring stores from general mess to the ships store and vice verse
c. 7J- Purchase of NSA material by ships and chargeable to NWCF
d. 2I- Payments chargeable to SSPN for the transfer of funds to the MWR fund and charges for repairs to ships store material or equipment

Question 23

What element in the accounting classification code indicates the UIC of the account activity?

Answer 23

8th Element (Property Accounting Activity)

Question 24

What is the purpose of Functional Account Numbers?

Answer 24

? They are used as reference numbers to determine the content of certain accounts used in various reports.

Question 25

Each Functional Account has how many digits?

Answer 25

5 digits

Question 26

The first digit of each Functional Account Number indicates what?

Answer 26

The Major Heading

Question 27

How many Major Series of functional account numbers are there?

Answer 27

6 Major Series' a. 1-Naval vessels, b. 4-Ashore Naval activities, c. 5-Stores, d. 6-Store manufacturing and repairs; e. 7- Military personnel pay, f. 9- Misc

Question 28

How many Second Series of functional account numbers are there?

Answer 28

6 Second Series a. 13000? General Stores (Credit) b. 51000? Other supply officers (Charge) c. 73170? General Mess d. 75400? Expenses of operation charged to SSPN e. 75401? SSPN to MWR f. 98074? NWCF cash sales from ship’s stores g. 99250? Military personnel claims for damage to personal property

Question 29

What is the difference between funds and appropriations?

Answer 29

Funds do not expire. Appropriation is good for a specific time period.

Question 30

What are 3 types of funds commonly used by the US Navy?

Answer 30

a. General b. Trust c. Revolving

Question 31

The Navy Working Capital Fund is an example of what type of fund?

Answer 31

Revolving

Question 32

What is the purpose of the NWCF?

Answer 32

Finances original procurement of all ships store stock

Question 33

What type of fund is the NWCF?

Answer 33

Self replenishing; Revolving fund

Question 34

What is the NWCF Appropriation number?

Answer 34

97X4930.NC1A

Question 35

Navy Stock Account (NWCF) is designated by what functional account number?

Answer 35

51000

Question 36

Ship’s store stock remains in the Navy Stock Account until when?

Answer 36

Sold, Issued or surveyed

Question 37

Who is ultimately credited with the cost price of sales, issues and survey of stock?

Answer 37

NWCF

Question 38

A Revolving Fund is established to provide what?

Answer 38

Working Capital

Question 39

What is the purpose of the NWCF?

Answer 39

To provide the necessary capital to purchase and maintain stocks of common supply items for support and operation of the Navy

Question 40

What is the holding account for NWCF procured supplies?

Answer 40

Navy Stock Account

Question 41

What type of fund is used to buy ships store merchandise?

Answer 41

NWCF

Question 42

Ship’s Store Profit, Navy (SSPN) is an example of what type of fund?

Answer 42

Trust Fund

Question 43

What is the purpose of a Trust Fund?

Answer 43

To deposit amounts received or appropriated and held in trust

Question 44

How are profits from the ships store profits, Navy (SSPN) trust fund being used?

Answer 44

MWR of Navy personnel

Question 45

Monies from this account accrue from what?

Answer 45

Sales in ships stores

Question 46

What is the appropriation number for SSPN?

Answer 46

17x8723.2301

Question 47

Under which allotment is payment of ship’s store profits to the CO for the recreation of the crew is authorized?

Answer 47

Open allotment

Question 48

An open allotment under SSPN has been assigned to what 3 things?

Answer 48

a. Authorized expenses of ships stores b. Markdowns and surveys incurred in the normal course of business c. Payment of ships store profits to the CO for the recreation of the crew

Question 49

Retail stores have a maximum gross profit of what percent?

Answer 49

20%

Question 50

Drink vending machines have a maximum gross profit of what percent?

Answer 50

55%

Question 51

What formula should be used to determine gross profit for retail stores?

Answer 51

Line C02 – (minus) B21 (divided by) C02 = (equals) % of gross profit

Question 52

What formula should be used to determine gross profit for drink vending machines?

Answer 52

Line C03 – (minus) B25 (divided by) C03 = (equals) % of gross profit

Question 53

Under which allotment is travel and miscellaneous expenditures for NEXCOM, Fleet Assistance Teams and fleet personnel to support ship’s store personnel authorized?

Answer 53

General Fund

Question 54

What authority maintains the SSPN (GF)?

Answer 54

NAVSUPSYSCOM

Question 55

Monies for the General Fund accrue from what 2 sources?

Answer 55

a. Assessment on cash received from retail sales by individual stores b. Balance of ships store profits remaining after loss or decommissioning of a ship

Question 56

Purchases of vending machines, coin changers, and dollar bill changers are charged to what account

Answer 56

SSPN, General Fund

Question 57

When a ship decommissions, where does the money go?

Answer 57

SSPN (GF)

Question 58

How is money deposited into the general fund to be spent?

Answer 58

To carry on the general operations of the Government

Question 59

The profits from sales in the ships store are the basic source of funds available to whom?

Answer 59

CO for MWR fund

Question 60

What will NOT be included in the amount taken up as cash received from sales in the ships store?

Answer 60

Contributions

Question 61

A Ships store may request a loan to cover the cost of what 3 things?

Answer 61

a. Equipment (such as vending machines), b. Modernization and improvement of ships store facilities c. Operating losses

Question 62

Who is the approving authority for ships store loans?

Answer 62

NEXCOM

Question 63

Loans and grants are charged to what account?

Answer 63

SSPN, General Fund

Question 64

Ships having a complement of less than 350 may repay a loan in how many installments?

Answer 64

5

Question 65

Loans to cover the cost of modernization may be requested for a period of up to how long?

Answer 65

3 years

Question 66

To reimburse the General Fund, the individual ship’s store will make payments from what source?

Answer 66

Local profits

Question 67

The amount of the loan will be entered as a one-time entry on what line of the NAVCOMPT 153?

Answer 67

C05

Question 68

The amount of the grant will be reported on what line of the NAVCOMPT 153? When will this entry be made?

Answer 68

C06 At the end of the accounting period in which the grant was received

Question 69

How is the General Fund Assessment computed?

Answer 69

Line C02 x (buper percentage) = GF Assessment

Question 70

Name 3 things that will NOT be included in the GF Assessment?

Answer 70

a. Drink vending machine sales, b. Rebates from exchange catalog sales, c. Contributions

Question 71

3. What specific criteria of a ship delineate the percentages of assessment of the ships total retail sales to support the SSPN, general fund?

Answer 71

Crew size

Question 72

What is OPNAV 1000/2?

Answer 72

Manpower Authorization Document

Question 73

What is the NEXCOM percentage of the GF Assessment?

Answer 73

.5%

Question 74

What is the BUPERS percentage of the GF Assessment for a crew size of

Answer 74

a. 1500 or more? 5.5% (6-5) 5.0% (8101) b. 500-1499? 5.0% (6-5) 4.5% (8101) c. Less than 500? 0.5% (6-5) 0.0% (8101)

Question 75

ROM will automatically compute and post the GF Assessment to what 2 lines of the NAVCOMPT 153?

Answer 75

a. Local: C14A, | b. BUPERS: C14B

Question 76

The amount to be paid as reimbursement for loss or damage to personal uniform clothing will be determined by whom?

Answer 76

CO

Question 77

The amount certified for payment will be based on what 3 factors?

Answer 77

a. Acquisition cost, b. Length of time the item has been in use, c. Whether or not the item is repairable, if damaged

Question 78

Reimbursement will be based on a depreciation scale of what percent?

Answer 78

a. 30% for the first year | b. 10% for each succeeding year up to 70% max

Question 79

What form is used to pay for laundry claims?

Answer 79

SF 1034

Question 80

Once the claim has been paid, a copy of the SF 1034 will be filed where?

Answer 80

C13

Question 81

What will be applied against ship’s store profits before any profits are transferred to the MWR Fund?

Answer 81

Liabilities assumed (C24A) and Anticipated expenses

Question 82

Materials, services or substantiating documents is known as what report?

Answer 82

Abstract Data Report

Question 83

Anticipated expenses include what?

Answer 83

Markdowns, surveys, and other operating losses

Question 84

Payments to the MWR fund will be reported on what line of the NAVCOMPT 153?

Answer 84

C24B

Question 85

Payment will be disbursed to the MWR fund within how many days following submission of returns?

Answer 85

15 days

Question 86

What form is used to transfer ships store profits to the MWR fund?

Answer 86

SF 1034

Question 87

When the sales officer is also the disbursing officer, who will prepare and process the SF 1034?

Answer 87

Sales officer

Question 88

When the sales officer is NOT also the disbursing officer, who will prepare the SF 1034?

Answer 88

Sales officer

Question 89

The SF 1034 will be forwarded to the CO along with a copy of what form?

Answer 89

NAVCOMPT 153

Question 90

Who must sign the SF 1034 before it is turned over to the DISBO for payment?

Answer 90

CO

Question 91

The SF 1034 will be filed where after payment has been made?

Answer 91

C22

Question 92

If it is necessary to transfer ship’s store profits to the MWR fund before the end of the accounting period, the Sales Officer must submit a letter request to whom?

Answer 92

NEXCOM with a copy to TYCOM & DFAS

Question 93

What should be contained in the letter?

Answer 93

The total monthly collections to date for the retail outlets, drink vending operation and anticipated expenses