DFMC 24A Final exam with complete solution.

How does Congress control funding (Big picture)? They vote on the appropriation bills. Which committee resolves differences between each chamber's version of the budget resolution? Budget Conference Committee Previous Pause Next Rewind 10 seconds Move forward 10 seconds Unmute 0:01 / 0:15 Full screen Brainpower Read More Which committees draft appropriation bills under the direction of the budget resolution? Appropriation Sub-Committees Which committees "marks-up" (votes to amend or change) the appropriations bills? Appropriation Committee Which committees resolve differences between the two version of the appropriation bills? Conference Committees What does the Authorization Bill do? Authorizes - Establishes, renews or extends and agency or program. What does the Appropriations Bill do? Authorized funding for a specific time period. What is the term for shifting budgetary resources from one project/purpose to another within an appropriation? Reprogramming Term for movement of funds from one account to another increasing budgetary resources available to a specific program/activity? Transfer What are the types of government funds? Appropriated Funds, Reimbursements, Defense Working Capital Funds and Non-Appropriated Funds What is the purpose of Working Capital Funds? To satisfy recurring DoD requirements using a businesslike buyer/seller approach. What is the goal of Working Capital Funds? To break even over the long term What is the purpose of PPBE? Optimize resources for the warfighter (Combatant Commander) In as few words as possible, what is the major activity of the planning phase? Articulate Vision and/or Strategy In as few words as possible, what is the major activity of the programming phase? Align resources with requirements What is the major activity associated with the budgeting phase? Convert programmatic costs to Congressional appropriations format What is the major activity associated with the execution phase? Obligate funding This document provides programmers with goals, priorities, and objectives so that they can prepare a POM. Defense Planning Guidance (DPG) How do the Combatant Commanders articulate their capability requirements? Integrated Priorities List (IPL) sent to the SECDEF and CJCS What is a Program Decision Memorandum (PDM)? SECDEF's final guidance on programmatic decisions and force structure; concludes the programming phase What is the magnitude of the defense budget? Roughly half of the Discretionary budget. What is debt? Money owed to someone. What is a deficit? Spending more than is received. What are the methods for government to secure resources? Sell, Tax, Borrow and Print Why do countries hold reserve currencies? International Trade , Financial Transactions, Manage Fixed Exchange Rate, Eliminating the costs of settling transactions involving different currencies What is the Federal Reserve System's dual mandate? Price stability and maximum employment What are the costs to being a reserve currency? Can lead to overaccumulation of debt and stronger currency can lead to lower exports When was the Federal Reserve System established? 1913 Consists of the members of the Board of Governors and Reserve Bank presidents? Federal Open Market Committee Why is accounting important? Helps keep score. Auditable financial statement. Who is responsible for financial statement content? Components or Agencies Who is responsible for compliation/preparation of financial statements? DFAS Who is responsible for adjudicating disagreements between DFAS and component/agency? OSD Comptroller Who established standards for government accounting? The Governmental Accounting Standards Board What three systems/processes together make up the DoD Decision Support System? JCIDS, DAS, PPBE Objectives of Joint Capabilities Integration & Development System (JCIDS)? (1) Manage and prioritize capability requirements, (2) identify tradeoffs to prioritize and categorize (3) categorize requirements (deliberate, urgent, emergent) What body of people employs JCIDS to identify, assess, validate, and prioritize joint military capabilities requirements? JROC (Joint Requirements Oversight Council), chaired by the Chairman of the Joint Chiefs of Staff This effort/document identifies and assesses Joint Force capability gaps? Capabilities Based Assessment The Initial Capabilities Document (ICD) does what? Quantifies capability requirements, proposes material and/or non-material approaches to close the gap What purpose does DAS (Defense Acquisition System) serve? Management process to acquire weapons systems to satisfy an identified capability need What body within DAS advises the Chair (USD-A&S) on major defense programs and focuses on interoperability, time-phased requirements, and demonstrates technology maturity? Defense Acquisition Board (DAB) Name a few requirements challenges the DAB must reconcile? Incomplete or rushed analysis, vague/poorly written requirements, requirements creep, cost and schedule estimates based on incomplete or poorly written requirements What three internal control objectives does OMB Circular A-123 prescribe? (1) Effective and efficient operations; (2) reliability in financial reporting; and (3) compliancewith laws and regulations In what document does DoD codify a Managers' Internal Control Program (MICP)? DoD Instruction 5010.40 What is the overarching purpose of internal controls? Provide reasonable assurance that entity objectives are achieved What are the five components of internal control? CRIME: (1) Control Activities; (2) Risk Assessment; (3) Information and Communication; (4) Monitoring; and (5) Control Environment What common phrase is associated with the Control Environment component of internal controls; leadership must do what? Establish/maintain a positive "tone at the top" There are three types of internal control deficiencies. Which is most critical and who must they be reported to? Material Weakness (OMB and Congress) DSM Step one? Identify the Issue DSM Step two? Analyze the Issue DSM Step Three? Develop Alternatives DSM Step Four? Evaluate Alternatives DSM Step 5? Make a recommendation. DSM Step 6? Decision Made DSM Step 7? Implementation DSM Step 8? Evaluation A position is? What you want. An Interest is? Why you want something. What are the 4 problem solving approaches? Insist, Cooperate, Comply, Evade What are the three trust-building behaviors? Positive Relationship, Good Judgement/Expertise and Consistency What is Fiscal law? The body of law that governs how federal agencies may use the funds appropriated to it by congress. What is the Purpose (or the "necessary expense rule")? It is what contracts/programs the agencies may fund as defined by congress in appropriations, continuing resolutions, and/or authorizations. What is the Time (or the "bona fide needs rule")? It is how long money is available for agencies to fund contracts/programs. What is the Amount "rule"? It is how much an agency can spend on contracts/programs Prohibits federal agencies from obligating or expending federal funds in advance or in excess of an appropriation, and from accepting voluntary services. Anti-deficiency Act (ADA) Add or remove terms