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TERMINAL LEARNING OBJECTIVE. ACTION: SUPERVISE THE IMPLEMENTATION OF FINANCIAL READINESS ACTIONS. CONDITIONS: GIVEN THE FOLLOWING: 1. DEPARTMENT OF DEFENSE FINANCIAL MANAGEMENT

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slide1

TERMINAL LEARNING OBJECTIVE

ACTION: SUPERVISE THE IMPLEMENTATION OF

FINANCIAL READINESS ACTIONS.

CONDITIONS: GIVEN THE FOLLOWING:

1. DEPARTMENT OF DEFENSE FINANCIAL MANAGEMENT

REGULATION (DODFMR) VOLUME 7A, MILITARY PAY POLICY

AND PROCEDURES ACTIVE DUTY AND RESERVE PAY.

2. TRAINING CIRCULAR (TC) 21-7, PERSONAL FINANCIAL

READINESS AND DEPLOYABILITY HANDBOOK.

slide2

TERMINAL LEARNING OBJECTIVE

(CONTINUATION)

STANDARDS: ANSWER AT LEAST 10 OF 15 QUESTIONS CORRECTLY ON A

WRITTEN TEST IDENTIFYING THE FOLLOWING FINANCIAL

READINESS POLICIES.

1. IDENTIFY VARIOUS STEPS FOR PLANNING INDIVIDUAL AND

FAMILY FINANCES IN ACCORDANCE WITH (IAW) TC 21-7.

2. IDENTIFY THE DIFFERENT SUPPORT AGENCIES PROVIDED BY

THE ARMY AND CIVILIAN SECTOR IAW TC 21-7.

2. IDENTIFY THE DIFFERENT SECTIONS OF THE LEAVE AND

EARNINGS STATEMENT AND NET PAY ADVICE IAW TC 21-7.

3. IDENTIFY THE DIFFERENT TYPES OF MILITARY PAY

ENTITLEMENTS AND ALLOWANCES IAW DODFMR AND TC 21-7.

4. IDENTIFY PROCEDURES TO RESOLVE PAY INQUIRIES IAW

STUDENT HANDOUT, FINANCIAL READINESS.

slide3

INTRODUCTION TO PERSONAL BANKING

FORT KNOX

SELECTING A FINANCIAL INSTITUTION

** IS THE BRANCH LOCATION CONVENIENT TO ME?

** MAY I BANK AT ANY BRANCH?

** WHAT CHARGES ARE INVOLVED IN MAINTAINING

AND ACCESSING AN ACCOUNT?

** DO I HAVE ACCESS TO MY ACCOUNT VIA THE ATM?

** IS THE INSTITUTION A MEMBER OF “FDIC”?

** WHAT TYPES OF ACCOUNTS ARE AVAILABLE?

** IS THERE A CHARGE FOR USING THE ATM?

** IS THERE A TOLL FREE NUMBER FOR CUSTOMER

SERVICE?

slide4

INTRODUCTION TO PERSONAL BANKING

VERIFY ALL DOCUMENTATION PRIOR TO

DEPARTING THE FINANCIAL INSTITUTION

a. NAME(S) AND SOCIAL SECURITY NUMBER(S)

b. ACCOUNT NUMBER

c. ADDRESS & ADDRESS ON CHECK

d. AMOUNT OF MONEY DEPOSITED

e. TYPE OF ACCOUNT

slide7

MANAGING DEBT

CHECKING ACCOUNT ADVANTAGES

A. YOU KNOW YOUR ACCOUNT BALANCE

B. CONVENIENT METHOD OF PAYING BILLS

C. PROVIDES PROOF OF PAYMENT

D. REDUCES AMOUNT OF CASH CARRIED

slide8

MANAGING DEBT

PLENTY, PLENTY MORE....HA, HA, HA

JUST BECAUSE YOU HAVE CHECKS

DOESN’T MEAN YOU HAVE AN

UNLIMITED AMOUNT OF FUNDS!!!!

slide9

MANAGING DEBT

CHECKING ACCOUNT DISADVANTAGES

DISHONORED CHECKS

1. COSTLY SERVICE CHARGES

2. RUIN YOUR CREDIT AND REPUTATION

3. COUNSELING FROM YOUR CHAIN OF

COMMAND

4. PLACED ON THE DISHONORED

CHECK LIST

5. SUSPENSION OF CHECK CASHING

PRIVILEGES

slide10

MANAGING DEBT

CHECKING ACCOUNT DISADVANTAGES

DISHONORED CHECKS (CON’T)

6. RECEIVE AN OFFICIAL REPRIMAND

7. RECEIVE A NEGATIVE EVALUATION

REPORT

8. REDUCTION IN RANK

9. BARRED FROM REENLISTMENT

slide11

MANAGING DEBT

BAD, BAD, BAD CHECK!

INSUFFICIENT FUNDS

YOU MAY BE COURT-MARTIALED

slide12

MANAGING DEBT

CREDIT CARD ADVANTAGES

EXPRESS VISA

1. AUTHORIZED CASH ADVANCES

2. AUTHORIZED CHARGE LIMITS

3. PRE-APPROVED LOAN WITH MINIMUM

REPAYMENT.

4. WIDELY ACCEPTED FOR PAYMENT

5. MONTHLY STATEMENT SHOWS MINIMUM

PAYMENT REQUIRED

PLASTIC SHOPPING, INC.

slide13

MANAGING DEBT

EXPRESS VISA

CREDIT CARD DISADVANTAGES

1. INTEREST RATES ARE USUALLY

HIGHER THAN ON A LOAN

2. PRE-SET SPENDING LIMITS

3. SOME COMPANIES CHARGE YEARLY FEES

4. MAKING MINIMUM PAYMENT ALLOWS INTEREST

TO ACCUMULATE

PLASTIC SHOPPING, INC.

slide14

MANAGING DEBT

DEFERRED PAYMENT PLAN ADVANTAGES

1. ITEMS PURCHASED ARE TAX FREE

2. RECEIVE MERCHANDISE NOW, PAY

LATER

3. SPENDING LIMIT SET BY RANK

4. MONTHLY PAYMENT

5. PAYMENTS ADJUSTED TO ETS DATE

slide15

MANAGING DEBT

DEFERRED PAYMENT PLAN DISADVANTAGES

1. INTEREST CHARGED ON GOODS

2. USE LIMITED TO POST EXCHANGE

OR CLOTHING SALES STORE

3. FAILURE TO PAY BILL WILL

RESULT IN DEDUCTION FROM

PAY.

slide16

MILITARY AND CIVILIAN SUPPORT AGENCIES

1. INFORMATION, REFERRAL

& FOLLOW-UP PROGRAM (IR&F)

2. RELOCATION ASSISTANCE

PROGRAM (RAP)

3. EXCEPTIONAL FAMILY MEMBER

PROGRAM (EFMP)

4. CONSUMER AFFAIRS AND FINANCIAL

ASSISTANCE PROGRAM (CAFAP)

5. FAMILY MEMBER EMPLOYMENT

ASSISTANCE PROGRAM (FMEAP)

6. FAMILY ADVOCACY PROGRAM

(FAP)

slide17

MILITARY AND CIVILIAN SUPPORT AGENCIES

FOSTER CARE

PROVIDES QUALITY SUBSTITUTE CARE FOR MILITARY CHILDREN IN SITUATIONS OR CIRCUMSTANCES WHICH NECESSITATE ALTERNATE PLACEMENT AWAY FROM THEIR PERMANENT HOME ON A TEMPORARY OR PERMANENT BASIS..

slide18

MILITARY AND CIVILIAN SUPPORT AGENCIES

THE OUTREACH PROGRAM

DELIVERS SERVICES TO GEOGRAPHICALLY OR SOCIALLY ISOLATED FAMILIES, FIRST TERM SOLDIERS AND FAMILIES, NEWLY ARRIVED SOLDIERS AND FAMILIES. OUTREACH FOCUSES ON EDUCATION, PREVENTION, DIRECT SERVICES, AND ORGANIZING SUPPORT GROUPS.

slide19

MILITARY AND CIVILIAN SUPPORT AGENCIES

ARMY COMMUNITY SERVICE IS AVAILABLE TO:

a. Active duty military personnel and their families.

b. Reserve and National Guard members while on active duty

or active duty for training and their families .

c. Next of kin of Prisoner of War (POW) and Missing in

Action (MIA) personnel of all armed forces.

d. Retired Military Personnel and their families.

e. Widows, widowers, and next of kin of military personnel

who were on active duty or retired at the time of their

death.

f. Army civilians, if civilian resources aren’t available, and

their families .

In overseas commands, eligibility is determined locally in accordance with international treaties and agreements.

slide20

DEFENSE FINANCE AND ACCOUNTING SERVICE MILITARY LEAVE AND EARNINGS STATEMENT

ID NAME LAST, FIRST, MI . SSN GRADE PAYDATE YRS SVC ETS BRANCH ADSN DSSN PERIOD COVERED

SIMPSON, THOMAS C. 999-99-9999 E-7 820130 15 991203 ARMY 5570 1 - 31 JUL 96

1 2 3 4 5 6 7 8 9

1. NAME, LAST, FIRST, MIDDLE INITIAL

2. SOCIAL SECURITY NUMBER

3. PAY GRADE

4. THE BEGINNING DATE OF ACTIVE DUTY

5. TOTAL YEARS OF ACTIVE AND INACTIVE SERVICE FOR PAY PURPOSE

6. EXPIRATION TERM OF SERVICE DATE

7. BRANCH OF SERVICE

8. YOUR PAYING FINANCE OFFICE (ADSN - ACCOUNTING DISBURSING STATION NUMBER, DSSN - DISBURSING STATION SYMBOL NUMBER)

9. PERIOD OF PAYMENT

slide21

ENTITLEMENTS DEDUCTIONS ALLOTMENTSSUMMARY

A BASE PAY 2175.30 FED TAXES 179.35 BOND #01 50.00

B BAH 643.37 FICA-SOC SEC 134.87 BOND #02 50.00 +TOT ENT 3046.83

C BAS 228.16 FICA-MEDICARE 31.54 CFC ALLOT 3.00

D STATE TAXES 78.87 AER ALLOT 3.00

E SGLI FOR 200,000 17.00 -TOT DED 1434.97

F AFRH .50

G MID-MONTH-PAY 992.84

H -TOT ALMT 106.00

I

J

K =NET AMT 1505.86

L

-CR FWD .00

=EOM PAY 1505.86

TOTAL 3046.83 1434.97 106.00

SECOND PORTION OF THE LEAVE AND EARNINGS STATEMENT

TYPEAMOUNTTYPEAMOUNTTYPEAMOUNT+AMT FWD .00

RETPLAN

HIGH 3

DIEMS

820130

slide22

THRIFT Base Pay Rate Base Pay Current Spec Pay Rate Spec Pay Current Inc Pay Rate Inc Pay Current Bonus Pay Rate Bonus Pay Current

SAVINGS0.000.000.000.00

PLAN TSP YTD Deductions Deferred Exempt

(TSP).00.00.00

THIRD PORTION OF THE LEAVE AND EARNINGS STATEMENT

LEAVE BF ERND USED CR ETS LOST PAID USE LOSE FED WAGE PER WAGE YTD MS EX ADD’L TAX YTD

BAL BAL BAL TAXES TAX

30 25 10 45 128.5 0 0 0 2175.30 15227.10 M 02 .00 1255.45

FICA WAGE PER WAGE YTD TAX YTD MED WG YTD MD TX YTD STATE ST WG PER WAGE YTD MS EX TAX YTD

TAXESTAXES

2175.30 15227.10 944.09 15227.10 220.78 GA 2175.30 15227.10 M 02 552.09

PAY BAQ BAQ DEPN VHA RENT SHARE STA JFTR DEPNS 2D BAS CHARITY TPC PACIDIN

DATA TYPE ZIP AMT JFTR TYPE

W/DEP SPOUSE 29207 695.00 1 R 0 REGULAR 27.00 ECM1PT40

slide23

FINAL PORTION OF THE LEAVE AND EARNINGS STATEMENT

REMARKS: YTD ENTITLE 20512.03 YTD DEDUCT 3100.91

YOUR PAY/PERSONNEL FILE IS ROUTINELY

MATCHED WITH STATE FILES TO IDENTIFY

MEMBERS DELINQUENT IN CHILD SUPPORT PMTS

SERVICE GP LIFE INSURANCE DEBT BAL .00 1JUL96

YOUR CURRENT STATE CLAIMED IS: GEORGIA

PLEASE VERIFY YOUR STATE OF LEGAL RESIDENCE

FOR STATE INCOME TAX PURPOSE. CONTACT

YOUR PAYROLL OFFICE TO FILE A NEW DD FORM

2058 TO CHANGE/ESTABLISH CORRECT STATE

IMMEDIATELY.

BANK THIRD NATIONAL BANK

ACCT # 6395886990

slide24

TOP PORTION OF THE NET PAY ADVICE

1. MEMBER’S NAME AND ADDRESS 2. SSN 3. ADSN/DSSN 4. PAY DATE

999-99-9999 5570 15 JUL 96

SIMPSON, THOMAS C. 5. ACCOUNT NUMBER 6. NET PAY AMOUNT

ECM1PT40

6395886990 $992.84

7. YOUR NET PAY WAS FORWARDED TO:

THIRD NATIONAL BANK

HINESVILLE, GA 31315-1211

slide25

8. Remarks Section:

EFFECTIVE JULY 1996, PREMIUMS FOR THE DENTAL PLAN

Finance Office INCREASED. PREMIUM FOR SINGLE COVERAGE IS $7.19

AND $17.97 FOR FAMILY COVERAGE.

IN GEORGIA, SOUTH CAROLINA, FLORIDA, ALABAMA,

Defense Finance MISSISSIPPI, LOUISIANA, AND TENNESSEE, THE TRICARE

and PROGRAM BEGAN 1 JULY 1996 FOR ELIGIBLE

Accounting BENEFICIARIES. CALL 1-800-441-4554 FOR MORE

Service INFORMATION.

Other Agencies

Individual

Remarks

BOTTOM PORTION OF THE NET PAY ADVICE

slide26

TYPES OF MILITARY

PAY ENTITLEMENTS

  • BASE PAY
  • FOREIGN DUTY PAY
  • SPECIAL PAY
  • INCENTIVE PAY
  • HIGH ALTITUDE LOW OPENING PAY
  • (HALO)

YOURS

UNCLE

SAM’S

ALL MILITARY PAY ENTITLEMENTS ENDING

WITH “PAY” ARE SUBJECT TO FEDERAL TAXES.

slide27

MILITARY PAY ALLOWANCES

  • BASIC ALLOWANCE FOR HOUSING
  • BASIC ALLOWANCE FOR SUBSISTENCE
  • FAMILY SEPARATION ALLOWANCE
  • COST OF LIVING ALLOWANCE
  • OVERSEAS HOUSING ALLOWANCE
  • CLOTHING MONETARY ALLOWANCE
  • OFFICERS UNIFORM AND EQUIPMENT
  • ALLOWANCE

ALL

YOURS

ALLOWANCES ARE NOT SUBJECT TO

FEDERAL TAXES.

slide28

STATE

TAXES

DEFENSE FINANCE AND ACCOUNTING SERVICE MILITARY LEAVE AND EARNING STATEMENT

ID NAME (Last, First, MI) SOC. SEC. NO. GRADE PAY DATE YRS SVC ETS BRANCH ADSN/DSSN PERIOD COVERED

RICHARDSON, KEVIN A. 123-45-6789 E-7 820130 15 991203 ARMY 5570 1-31 JAN 97

ENTITLEMENTS DEDUCTIONS ALLOTMENTS SUMMARY

TYPE AMOUNT TYPE AMOUNT TYPE AMOUNT +AMT FWD .00

A BASE PAY 2175.30 FED TAXES 179.35 BOND #01 50.00

B BAH 643.37 FICA-SOC SEC 134.87 BOND #02 50.00 +TOT ENT 3046.83

C BAS 228.16 FICA-MEDICARE 31.54 CFC ALLOT 3.00

D STATE TAXES 78.87 AER ALLOT 3.00

E SGLI FOR 200,000 17.00 -TOT DED 1434.97

F AFRH .50

MID-MONTH-PAY 992.84

G

H -TOT ALMT 106.00

I

J

K =NET AMT

1505.86

L

-CR FWD .00

=EOM PAY 1505.86

TOTAL 3046.83 1434.97 106.00

BF Bal Ernd Used CR Bal ETS Bal Lv Lost Lv Paid Use/Lose

Wage Period Wage YTD M/S Ex Add’l Tax Tax YTD

LEAVE

FED

TAXES

30 25 10 45 128.5 0 0 0 2175.30 15227.10 M 02 .00 1255.45

St Wage Period Wage YTD M/S Ex Tax YTD

Wage Period Soc Wage YTD Soc Tax YTD Med Wage YTD Med Tax YTD

FICA

TAXES

2175.30 15227.10 944.09 15227.10 220.78 GA 2175.30 15227.10 M 02 552.09

BAQ Type BAQ Depn VHA Zip Rent Amt Share Stat JFTR Depns 2D JFTR BAS Type Charity YTD TPC PACIDIN

PAY

DATA

W/DEP SPOUSE 29207 695.00 1 R 0 REGULAR 27.00 ECM1PT40

THRIFT

Base Pay Rate Base Pay Current Spec Pay Rate Spec Pay Current Inc Pay Rate Inc Pay Current Bonus Pay Rate Bonus Pay Current

SAVINGS

0 .00 0 .00 0 .00 0 .00

PLAN

(TSP)

TSP YTD Deductions Deferred Exempt

.00 .00 .00

REMARKS: YTD ENTITLE

20512.03

YTD DEDUCT

3100.91

YOUR PAY/PERSONNEL FILE IS ROUTINELY BANK: THIRD NATIONAL BANK

MATCHED WITH STATE FILES TO IDENTIFY ACCT # 6395886990

MEMBERS DELINQUENT IN CHILD SUPPORT PMTS

YOUR CURRENT STATE CLAIM IS: GEORGIA

PLEASE VERIFY YOUR STATE OF LEGAL RESIDENCE

FOR STATE INCOME TAX PURPOSE. CONTACT

YOUR PAYROLL OFFICE TO FILE A NEW DD FORM

2058 TO CHANGE/ESTABLISH CORRECT STATE

IMMEDIATELY.

slide29

ATSG-TD-EFS 18 JUN 1996

MEMORANDUM FOR See Distribution

SUBJECT: Assingment/Termination to Family Housing

1. THE FOLLOWING INDIVIDUAL IS ASSIGNED/TERMINATED GOVERNMENT FAMILY Quarters:

NAME: RICHARDSON, KEVIN A.RANK: SFCSSAN: 123-46-7889UNIT: HQ, 1ST BN/3RD BDEASSIGNED: ADEQUATE FAMILY HOUSINGADDRESS: 1099 DRUM DR. FT STEWART, GA 31314

2. EFFECTIVE DATE:

25 JUN 1996

3. AUTHORITY: AR 210-50

4. THIS MOVE IS FOR THE CONVENIENCE OF: GOVERNMENT/ INDIVIDUAL/ COMMAND

5. THIS ACTION IS/ IS NOT TAKEN AS PART OF AN INTRAPOST MOVE.

FOR THE COMMANDER:

/S/

FLORENCE E. LEGGETTC: FAM HSG MGT BR

DISTRIBUTION:

INDIVIDUAL 05

TRANSPORTATION 05

FINANCE OFFICE 02

UNIT 01

FILE COPY 01

** FOR INSTRUCTIONAL PURPOSE ONLY **

slide31

TERMINAL LEARNING OBJECTIVE

ACTION: SUPERVISE THE IMPLEMENTATION OF

FINANCIAL READINESS ACTIONS.

CONDITIONS: GIVEN THE FOLLOWING:

1. DEPARTMENT OF DEFENSE FINANCIAL

MANAGEMENT REGULATION (DODFMR)

VOLUME 7A, MILITARY PAY POLICY AND

PROCEDURES ACTIVE DUTY AND RESERVE

PAY.

2. TRAINING CIRCULAR (TC) 21-7, PERSONAL

FINANCIAL READINESS AND DEPLOYABILITY

HANDBOOK.

slide32

TERMINAL LEARNING OBJECTIVE

(CONTINUATION)

STANDARDS: ANSWER AT LEAST 10 OF 15 QUESTIONS CORRECTLY ON A

WRITTEN TEST IDENTIFYING THE FOLLOWING FINANCIAL

READINESS POLICIES.

1. IDENTIFY VARIOUS STEPS FOR PLANNING INDIVIDUAL AND

FAMILY FINANCES IN ACCORDANCE WITH (IAW) TC 21-7.

2. IDENTIFY THE DIFFERENT SUPPORT AGENCIES PROVIDED BY

THE ARMY AND CIVILIAN SECTOR IAW TC 21-7.

2. IDENTIFY THE DIFFERENT SECTIONS OF THE LEAVE AND

EARNINGS STATEMENT AND NET PAY ADVICE IAW TC 21-7.

3. IDENTIFY THE DIFFERENT TYPES OF MILITARY PAY

ENTITLEMENTS AND ALLOWANCES IAW DODFMR AND TC 21-7.

4. IDENTIFY PROCEDURES TO RESOLVE PAY INQUIRIES IAW

STUDENT HANDOUT, FINANCIAL READINESS.

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