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POC Block II, Unit 2

NAF Financial Management

QuestionAnswer
What are some examples of NAFs? (2-1) The Morale, Warfare and Recreation (MWR) fund and Army Air Force Exchange Service (AAFES) dividends
What type of funds are appropriated by Congress, Public Law (10 U.S.C. 2783) and budgeted in the FYPD via POM? (2-1) Appropriated Funds (APF)
Describe Funding Category A. (2-3) Activities that generate little revenue and are funded with 100% APF. Includes Libraries, Fitness Operations, Intramurals, Community Centers and Parks.
DescribeFunding Category B. (2-3) Activities that have limited ability to generate revenue and are funded with 50% or more APFs. NOTE: 50% APF is NOT a cap on govt support. It is the LOWEST amount that MUST be provided by the govt.
It is defined as a long term (5-year) capital purchase plan for big ticket items in which managers identify their needs, indicating the cost and the quarter in which they want to purchase items? (2-6) NAF Requirements Budget
Which budget is a way of making sure you can afford and have sufficient cash flow to cover your planned operations? (2-6) Cash Flow Budget
Who is the final approval authority to the Base NAF Council and may or may not actually sit on the council? (2-7) Installation Commander
Name the required voting members of the NAF Council. (2-7) Council chairperson (Wing/CC or CV) Command Chief (WG/CCC) Comptroller (CPTS/CC) FSS Commander or Director (FSS/CC or DD) Two additional members, one of which must be an enlisted person
The NAF accounting year is the same as the APF fiscal year which runs from... (2-8) 1 October to 30 September
The NAF accounting period is how long? (2-8) A calendar month
What is the Accounting Equation? (2-9) ASSETS = LIABILITIES + FUND EQUITY
What are the three primary sections on the Balance Sheet? (2-10/11) Assets, Liabilities and Fund Equity
Created by: POCJan2014
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