U. S. Fleet Forces' Financial Earnestness Earns Awards


Story Number: NNS170714-09Release Date: 7/14/2017 8:36:00 AM
A  A  A   Email this story to a friend   Print this story
By By Mass Communication Specialist 2nd Class Stacy M. Atkins Ricks, U.S. Fleet Forces Public Affairs

NORFOLK (NNS) -- Money management for the average household can be tough. Now let's multiply that task to the scale of managing the Navy's wallet. The U.S. Fleet Forces (USFF) Financial Improvement Audit Readiness (FIAR) team aboard Naval Support Activity Hampton Roads is familiar with that task and is responsible for keeping the fleet financially fit.

Fresh off of receiving two awards from the Assistant Secretary of the Navy Financial Management and Comptroller (ASN FM&C) June 7, the USFF comptroller department has collectively set their sights on maintaining and exceeding standards for their portions of the fleet's financial readiness.

Members of the department recently earned wins in the 2016 Best Internal Controls Program and Best Timely Object Class Reporting categories of the ASN FM&C awards. The awards are designed to recognize outstanding achievements in financial management endeavors supporting cost reduction, process improvements, accuracy, timeliness and customer service. The awards are an accomplishment leaders say are a group effort.

"Our team worked together, both government and with contractor support, testing and quality checking internal controls," said Lt. Cmdr. Vincent Ambrosino, FIAR lead.

"It was a testament to our hard work and collaboration to have an understanding of what FMO charged us to do," said Ray Lester, a FIAR support contractor. "With this program in place it shows that not only are we taking FMO's charge seriously but trying to be front runners who lead by example."

The department is responsible for the budget implementation and economic policy for USFF and the Atlantic Fleet. The team is also accountable for tracking and reporting fund allocation. Meaning, at any given moment, having the ability to show how each dollar is spent, where each dollar goes and ensuring all transactions are accurately documented.

This is a job that entails reviewing and implementing corrective action plans (CAPs) within USFF to reduce errors, preforming audit testing for accuracy, and creating guidelines on the control points to be tested.

"One of the other benefits to this program is increasing the buying power within the organization," said Jeff Scott, FIAR manager. "With these internal controls in place we can readily identify if someone is being financially irresponsible. So you can easily correct that so that you have funds available to support the various missions of the command."

In 2005, the Department of Defense established a financial operations management program designed to improve business processes and controls to assist with audit preparations across the Navy, Air Force, Army and Marine Corps.

Ambrosino explained that the program in place today has developed tremendously in many aspects from what was employed 12 years ago, yet it has one very distinct difference. Auditability.

"The program had to go through a number of phases to get to where we are today and to be ready for an Independent Public Auditor to come look at us. The Navy, in our mind set, was always accountable for things but really on paperwork, we were not. While we had accountability, we did not have auditability," said Ambrosino. "Now that is what FIAR, the comptroller shop, and the commands do and are accounting for where every dollar is going."

Leaders emphasized that the goal was to not just meet but exceed the standard and establish a new benchmark through teamwork.

"Working together we designed the program and solicited input from subordinate commands for final design," said Ambrosino. "The end result has provided this flexible framework. Without our dedicated team and forward thinking by our leadership, this award would not have been possible."

For more news from USFF, please visit, www.public.navy.mil/usff



For more information, visit http://www.navy.mil, http://www.facebook.com/usnavy, or http://www.twitter.com/usnavy.

For more news from U.S. Fleet Forces Command, visit www.navy.mil/local/clf/.

 
RELATED PHOTOS
USFF Financial Earnestness Earns Awards
170622-N-IK388-001 NORFOLK, Va. (June 22, 2017) - U.S. Fleet Forces' (USFF) illustration representation of the race for financial fitness within the Navy. USFF Financial Improvement Audit Readiness team aboard Naval Support Activity Hampton Roads earned the 2016 Best Internal Controls Program and Best Timely Object Class Reporting categories of the Assistant Secretary of the Navy Financial Management and Comptroller awards on June 7. (U.S. Navy graphic by Mass Communication Specialist 2nd Class Stacy M. Atkins Ricks/ released)
July 13, 2017
Navy Social Media
Sign up for email updates To sign up for updates or to access your subscriber preferences, please click on the envelope icon in the page header above or click Subscribe to Navy News Service .