OIC - Finance and Supply Flashcards
What are AFC-30 Funds?
Operating and Maintenance Funds
What are AFC 45 funds?
Naval Engineering
What is an SSL?
Standard Support Level
What is the micro-purchase threshold of supplies?
$3500
What is the micro-purchase threshold of services?
$2500
What is the micro-purchase threshold of construction?
$2000
What are some examples of restricted purchases?
Rental or lease of real property
Telephone services (except cell phones)
Cash Transactions
Personal Purchases
Savings Bonds
Payment of freight transportation services
Can you purchase from Exchanges?
Yes, mandatory sources of supply must still be followed.
When must the cardholder verify their statement in PCA?
From the 12th to the 19th.
When must an AO certify statements in PCA?
From the 19th to the 26th.
How often in AO refresher training required?
AO’s must receive refresher training every 2 years.
What is required to allow cardholder to make purchases?
Letter of designated Procurement Authority.
How long are purchasing records required to be maintained?
6 years 3 months
What is required to be on GP PROPERTY?
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
What are some optional items to be on GP PROPERTY?
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
What is a ratification?
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.
Can printing be ratified?
Printing is Non-Ratifiable.
What are your purchasing dollar limits?
Supplies - $3,500
Services - $2,500
Construction - $2,000
What do you do if you need to procure something over the micro-purchase threshold?
Conduct market research,
Provide at least three estimates,
Work through the Sector/ COCO to decide on the appropriate source.
What is a split purchase?
Separate purchases made for the same item under the micro-purchase limit, for the purpose of exceeding the micro-purchase limit.
What is a ratification?
Approving an unauthorized purchase, if warranted.
What are the possible negative outcomes of an illegal purchase?
Member making purchase could have to pay for the purchase personally.
What are your responsibilities if you are an approving official?
Ensure purchases are from authorized vendors,
Ensure the purchases are under the micro-purchase limit,
Follow procurement priorities,
Certify the card holders PCA.
What is PCA and what is it used for?
Purchase Card Application; used to verify (cardholder) and certify (AO) credit card purchases.
Where can you get printing services done?
Govt. Printing Office (GPO) ONLY.
What are your spend down rates?
25% 1st Quarter
50% 2nd Quarter
75% 3rd Quarter
100% 4th Quarter
What are fall out funds?
Excess funds available for distribution.
Who can conduct a survey?
E7 or above - requires 3 people.
Can you authorize members to use government equipment for personal use?
Yes, within reason.
What is a spend plan?
Plan on how a unit will spend its allotted funds, taking into account SMAs, planned maintenance, etc.
What is a unit approved plan?
Written document specifying who is authorized certain roles in the procurement process.
What is FPD?
Financial Procurement Desktop - A computerized database where PR’s are initiated and unit spending is tracked.
