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USCG > OIC - Finance and Supply > Flashcards

OIC - Finance and Supply Flashcards

1
Q

What are AFC-30 Funds?

A

Operating and Maintenance Funds

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2
Q

What are AFC 45 funds?

A

Naval Engineering

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3
Q

What is an SSL?

A

Standard Support Level

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4
Q

What is the micro-purchase threshold of supplies?

A

$3500

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5
Q

What is the micro-purchase threshold of services?

A

$2500

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6
Q

What is the micro-purchase threshold of construction?

A

$2000

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7
Q

What are some examples of restricted purchases?

A

Rental or lease of real property

Telephone services (except cell phones)

Cash Transactions

Personal Purchases

Savings Bonds

Payment of freight transportation services

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8
Q

Can you purchase from Exchanges?

A

Yes, mandatory sources of supply must still be followed.

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9
Q

When must the cardholder verify their statement in PCA?

A

From the 12th to the 19th.

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10
Q

When must an AO certify statements in PCA?

A

From the 19th to the 26th.

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11
Q

How often in AO refresher training required?

A

AO’s must receive refresher training every 2 years.

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12
Q

What is required to allow cardholder to make purchases?

A

Letter of designated Procurement Authority.

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13
Q

How long are purchasing records required to be maintained?

A

6 years 3 months

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14
Q

What is required to be on GP PROPERTY?

A

Leased/Rented/Borrowed property

MWR items costing over $5000

Items over $5000

Silver service and silverware

Artwork/models and artifacts with historical significance

Licensed Software

Foreign gifts and decorations retained by CG valued at $255 or more

AE/IT equipment(monitors, keyboards, mice, and speakers are exempt

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15
Q

What are some optional items to be on GP PROPERTY?

A

Items that have Popular appeal

Items that are difficult to control

Are easily misappropriated for personal gains or for other reasons which justify their accountability

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16
Q

What is a ratification?

A

A process of approving an unauthorized commitment by an official who has the authority to do so. The individual who made the unauthorized commitment must state the facts, which precipitated the action. If the person who made the purchase is no longer available, the immediate supervisor must provide the info.

17
Q

Can printing be ratified?

A

Printing is Non-Ratifiable.

18
Q

What are your purchasing dollar limits?

A

Supplies - $3,500

Services - $2,500

Construction - $2,000

19
Q

What do you do if you need to procure something over the micro-purchase threshold?

A

Conduct market research,

Provide at least three estimates,

Work through the Sector/ COCO to decide on the appropriate source.

20
Q

What is a split purchase?

A

Separate purchases made for the same item under the micro-purchase limit, for the purpose of exceeding the micro-purchase limit.

21
Q

What is a ratification?

A

Approving an unauthorized purchase, if warranted.

22
Q

What are the possible negative outcomes of an illegal purchase?

A

Member making purchase could have to pay for the purchase personally.

23
Q

What are your responsibilities if you are an approving official?

A

Ensure purchases are from authorized vendors,

Ensure the purchases are under the micro-purchase limit,

Follow procurement priorities,

Certify the card holders PCA.

24
Q

What is PCA and what is it used for?

A

Purchase Card Application; used to verify (cardholder) and certify (AO) credit card purchases.

25
Q

Where can you get printing services done?

A

Govt. Printing Office (GPO) ONLY.

26
Q

What are your spend down rates?

A

25% 1st Quarter

50% 2nd Quarter

75% 3rd Quarter

100% 4th Quarter

27
Q

What are fall out funds?

A

Excess funds available for distribution.

28
Q

Who can conduct a survey?

A

E7 or above - requires 3 people.

29
Q

Can you authorize members to use government equipment for personal use?

A

Yes, within reason.

30
Q

What is a spend plan?

A

Plan on how a unit will spend its allotted funds, taking into account SMAs, planned maintenance, etc.

31
Q

What is a unit approved plan?

A

Written document specifying who is authorized certain roles in the procurement process.

32
Q

What is FPD?

A

Financial Procurement Desktop - A computerized database where PR’s are initiated and unit spending is tracked.

USCG (23 decks)

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