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Members of the 325th Comptroller Squadron and the 325th Contracting Squadron work to procure last minute purchases before the end of the fiscal year. (Courtesy graphic)
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Contracting, comptroller close out fiscal year
Posted 10/11/2012 Updated 10/11/2012
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by 2nd Lt. Andrea Valencia
325th Fighter Wing Public Affairs
10/11/2012 - TYNDALL AIR FORCE BASE, Fla. -- The 325th Contracting Squadron and the 325th Comptroller Squadron work hand-in-hand at the end of each fiscal year to accomplish close out budgeting.
When it comes to the partnership of the 325th CONS and the 325th CPTS, the 325th CPTS manages the money and the 325th CONS solicits bids for different projects around the base.
"Contracting is the vehicle for our funding," said Maj. Christopher Carroll, 325th Comptroller Squadron commander. "We get the funding in, but we can't do anything unless the contract is awarded properly. They actually sign the contracts and award them to the various companies who actually perform the duties or requirements that the mission needs."
Throughout the year, wing leadership will host financial management boards, which prioritize the needs of the base from highest to lowest creating the unfunded requirements list.
"In the January time frame, we send out a letter to the entire installation, which list cut offs for getting requirements into us," said Norma Myers, 325th Contracting Squadron director of business operations. "At the same time we ask all our customers to put together a list of all their other needs that they don't have resources to fund, which are prioritized at the group level and then again at the wing level."
Throughout the year, more contracts are made and money is spent. Sometimes contracts are not as expensive as planned and there is left over "fall out" money. Also, "fall out" money can be left over from funds set aside for emergencies. The "fall out money" is then used on items on the unfunded requirements list to meet mission needs.
By the end of the fiscal year, 78 percent of wing's unfunded requirements list was funded, which included quality of life, wing and F-22 Raptor beddown projects.
"The fall out money is used to fund things the base needs but didn't have the money for," said Myers. "Money can come down at the last minute, and we choose the requirement based on the prioritization list and how much funding we have."
While the last day of the fiscal year is dedicated to making sure everything is balanced and all money has been spent to mission needs, planning immediately begins for the next fiscal year.
"We start all over on the fiscal year, Oct. 1," Major Carroll said. "The next big thing is initial distribution: were we receive funding based on our previous year's wing budget."
"We start planning for this at the beginning of the fiscal year," said Myers. "We plan ahead so if the funds do show up throughout the year, we are ready to reward, and we just have to hit the button."
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