Appropriations/Funds & Profits Flashcards
How does the Navy receive funds to operate, train, and maintain fleet readiness?
Through an appropriation authorized by congress
The 2013 fiscal year begins when?
1 October, 2012
The fiscal year for the ships store is separated into haw many accounting periods?
Accounting Periods - 3
a. 31 January
b. 31 May
c. 30 September
When are ships store financial reports detailing returns submitted to DFAS?
At the end of each accounting period
How does DFAS receive payment for the purchase order?
“Fast Pay” Invoice
How many types of appropriations do we have?
3 Types -
a. Annual
b. Continuing
c. Multi-year
What is the purpose of an Annual Appropriation?
To cover all expended and obligated funds for the fiscal year
When do Annual Appropriations become available?
At the beginning of the fiscal year
Fiscal year obligated funds remain available for a maximum of how long?
For a period of 6 years from the end of the fiscal year from which obligated funds were obligated
What appropriation is good until the project is complete?
Continuing Appropriation
Name 3 examples of programs that are supported by a continuing appropriation?
a. Shipbuilding
b. Research & Development
c. Public Works
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?
Multiple-year Appropriation
What is the purpose of the account classification system?
To classify type and/or purpose of expenditures and to designate the authority responsible for recording expenditures
How many elements comprise the accounting classification system?
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)
The appropriation code consists of how many alpha numeric characters?
7
What number signifies Department of Defense?
97
What number signifies Department of the Navy?
17
The letter ‘x’ signifies what type of appropriation?
Continuing Appropriation (Indefinite)
Which element identifies the charges to the appropriation or fund, indicated in element 1, for that particular transaction?
2nd Element (Subhead)
What specific element of the accounting classification code represents the allotment authorization number?
4th Element (Bureau Control Number)
Which element of the Accounting Classification Code is used to permit processing stores account processes by machines?
7th Element (Transaction Type)
Name and explain the 4 transaction types
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
What element in the accounting classification code indicates the UIC of the account activity?
8th Element (Property Accounting Activity)
What is the purpose of Functional Account Numbers?
? They are used as reference numbers to determine the content of certain accounts used in various reports.
Each Functional Account has how many digits?
5 digits
The first digit of each Functional Account Number indicates what?
The Major Heading
How many Major Series of functional account numbers are there?
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
How many Second Series of functional account numbers are there?
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
What is the difference between funds and appropriations?
Funds do not expire. Appropriation is good for a specific time period.
What are 3 types of funds commonly used by the US Navy?
a. General
b. Trust
c. Revolving
The Navy Working Capital Fund is an example of what type of fund?
Revolving
What is the purpose of the NWCF?
Finances original procurement of all ships store stock
What type of fund is the NWCF?
Self replenishing; Revolving fund
What is the NWCF Appropriation number?
97X4930.NC1A
Navy Stock Account (NWCF) is designated by what functional account number?
51000
Ship’s store stock remains in the Navy Stock Account until when?
Sold, Issued or surveyed
Who is ultimately credited with the cost price of sales, issues and survey of stock?
NWCF
A Revolving Fund is established to provide what?
Working Capital
What is the purpose of the NWCF?
To provide the necessary capital to purchase and maintain stocks of common supply items for support and operation of the Navy
What is the holding account for NWCF procured supplies?
Navy Stock Account
What type of fund is used to buy ships store merchandise?
NWCF
Ship’s Store Profit, Navy (SSPN) is an example of what type of fund?
Trust Fund
What is the purpose of a Trust Fund?
To deposit amounts received or appropriated and held in trust
How are profits from the ships store profits, Navy (SSPN) trust fund being used?
MWR of Navy personnel
Monies from this account accrue from what?
Sales in ships stores
What is the appropriation number for SSPN?
17x8723.2301
Under which allotment is payment of ship’s store profits to the CO for the recreation of the crew is authorized?
Open allotment
An open allotment under SSPN has been assigned to what 3 things?
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
Retail stores have a maximum gross profit of what percent?
20%
Drink vending machines have a maximum gross profit of what percent?
55%
What formula should be used to determine gross profit for retail stores?
Line C02 – (minus) B21 (divided by) C02 = (equals) % of gross profit
What formula should be used to determine gross profit for drink vending machines?
Line C03 – (minus) B25 (divided by) C03 = (equals) % of gross profit
Under which allotment is travel and miscellaneous expenditures for NEXCOM, Fleet Assistance Teams and fleet personnel to support ship’s store personnel authorized?
General Fund
What authority maintains the SSPN (GF)?
NAVSUPSYSCOM
Monies for the General Fund accrue from what 2 sources?
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
Purchases of vending machines, coin changers, and dollar bill changers are charged to what account
SSPN, General Fund
When a ship decommissions, where does the money go?
SSPN (GF)
How is money deposited into the general fund to be spent?
To carry on the general operations of the Government
The profits from sales in the ships store are the basic source of funds available to whom?
CO for MWR fund
What will NOT be included in the amount taken up as cash received from sales in the ships store?
Contributions
A Ships store may request a loan to cover the cost of what 3 things?
a. Equipment (such as vending machines),
b. Modernization and improvement of ships store facilities
c. Operating losses
Who is the approving authority for ships store loans?
NEXCOM
Loans and grants are charged to what account?
SSPN, General Fund
Ships having a complement of less than 350 may repay a loan in how many installments?
5
Loans to cover the cost of modernization may be requested for a period of up to how long?
3 years
To reimburse the General Fund, the individual ship’s store will make payments from what source?
Local profits
The amount of the loan will be entered as a one-time entry on what line of the NAVCOMPT 153?
C05
The amount of the grant will be reported on what line of the NAVCOMPT 153?
When will this entry be made?
C06
At the end of the accounting period in which the grant was received
How is the General Fund Assessment computed?
Line C02 x (buper percentage) = GF Assessment
Name 3 things that will NOT be included in the GF Assessment?
a. Drink vending machine sales,
b. Rebates from exchange catalog sales,
c. Contributions
- What specific criteria of a ship delineate the percentages of assessment of the ships total retail sales to support the SSPN, general fund?
Crew size
What is OPNAV 1000/2?
Manpower Authorization Document
What is the NEXCOM percentage of the GF Assessment?
.5%
What is the BUPERS percentage of the GF Assessment for a crew size of
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)
ROM will automatically compute and post the GF Assessment to what 2 lines of the NAVCOMPT 153?
a. Local: C14A,
b. BUPERS: C14B
The amount to be paid as reimbursement for loss or damage to personal uniform clothing will be determined by whom?
CO
The amount certified for payment will be based on what 3 factors?
a. Acquisition cost,
b. Length of time the item has been in use,
c. Whether or not the item is repairable, if damaged
Reimbursement will be based on a depreciation scale of what percent?
a. 30% for the first year
b. 10% for each succeeding year up to 70% max
What form is used to pay for laundry claims?
SF 1034
Once the claim has been paid, a copy of the SF 1034 will be filed where?
C13
What will be applied against ship’s store profits before any profits are transferred to the MWR Fund?
Liabilities assumed (C24A) and Anticipated expenses
Materials, services or substantiating documents is known as what report?
Abstract Data Report
Anticipated expenses include what?
Markdowns, surveys, and other operating losses
Payments to the MWR fund will be reported on what line of the NAVCOMPT 153?
C24B
Payment will be disbursed to the MWR fund within how many days following submission of returns?
15 days
What form is used to transfer ships store profits to the MWR fund?
SF 1034
When the sales officer is also the disbursing officer, who will prepare and process the SF 1034?
Sales officer
When the sales officer is NOT also the disbursing officer, who will prepare the SF 1034?
Sales officer
The SF 1034 will be forwarded to the CO along with a copy of what form?
NAVCOMPT 153
Who must sign the SF 1034 before it is turned over to the DISBO for payment?
CO
The SF 1034 will be filed where after payment has been made?
C22
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?
NEXCOM with a copy to TYCOM & DFAS
What should be contained in the letter?
The total monthly collections to date for the retail outlets, drink vending operation and anticipated expenses
