Photo By Miles Brown | The Commanding General of U.S. Army Aviation and Missile Command Commander, Maj. Gen....... read more read more
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REDSTONE ARSENAL, Ala. - Every year, the U.S. Army Aviation and Missile Command procures billions in parts and services needed to sustain and enable aviation, missile, and calibration materiel readiness for the U.S. Army. Sometimes, a contract or procurement action is delayed or otherwise not fulfilled in a timely manner and that ties up funds needed to support Soldiers across the Army. Occasionally, more money is allocated for a contract than the value of goods or services delivered or the delivered product does not meet the contract specifications or requirements.
To combat this issue, AMCOM’s Army Working Capital Fund Division embarked of a daunting task – clearing nearly 4,400 aged and dormant financial transactions. Some of those transactions have been lying dormant for over six years.
“As of May 2019, AMCOM had 4,432 transactions requiring detailed reconciliation,” said Heidi Lattuca, AMCOM’s AWCF division chief. “Over the last year, our accounting branch cleared almost 2,000 of these languishing financial transactions and returned $53.3M in contract authority to Army Materiel Command.”
A majority of the funds recovered by the AWCF accounting branch will be reallocated by AMC to some of the Army’s highest materiel readiness priorities.
The AWCF accounting branch was established at the start of FY20 specifically to tackle the backlog of dormant transactions. The team of seven Army civilians and three contractors represented a new surge capability within the division to get after work the division would otherwise struggle to deal with in a timely manner, according to Lattuca.
“The challenge when reconciling transactions is to ensure that all recorded transactions are accurate, valid, and support both Army Audit Readiness and the Joint Reconciliation Program. Research on inconsistencies, errors and trends is a challenge,” said Lattuca.
“The accounting branch, working in conjunction with numerous systems, partners and customers demonstrate that working together towards a common goal and leveraging highly technical expertise is one of the keys to the AWCF program’s success,” said Dale Smith, AMCOM G-8 director of Resource Management. “I am proud of their accomplishments over the last year. I believe they can and will continue to clear the backlog of old financial transactions. I want them to continue working like every month is September; like every month is the end of the fiscal year.”
The work of this small team of resource professionals requires talent, experience and dedication. They employ innovative thinking, daring ideas and bold solutions to maximize the efficient use of the command’s resources, according to Smith.
The addition of two team members with elevated system access, known as G-8 Firefighters, helped focus and streamline the AWCF Division’s efforts when it came to reconciling the dormant financial transactions and freeing up much needed resources. Their entire team’s efforts were recognized by the AMCOM Commanding General, Maj. Gen. Todd Royar, during a recent virtual town hall.
“The phenomenal work of our G-8 folks puts money back in our checkbook so we can spend it on other priorities and improve Army readiness,” said Royar.
| Date Taken: | 07.09.2020 |
| Date Posted: | 07.09.2020 10:07 |
| Story ID: | 373605 |
| Location: | REDSTONE ARSENAL, AL, US |
| Web Views: | 23 |
| Downloads: | 0 |
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