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The Future of Defense Financial Management and You. Presented to the ASMC Yankee Chapter By Alvin Tucker, CDFM-A August 16, 2012. Professional Overview. Your profession is Defense Financial Management Specific Body of Knowledge Ethical Standards Public Trust Legal Liability.

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the future of defense financial management and you

The Future of Defense Financial Management and You

Presented to the ASMC Yankee Chapter

By Alvin Tucker, CDFM-A

August 16, 2012

professional overview
Professional Overview
  • Your profession is Defense Financial Management
    • Specific Body of Knowledge
    • Ethical Standards
    • Public Trust
    • Legal Liability
core competencies for dod financial management
Core Competencies for DoD Financial Management
  • Government Resource Management Environment
  • Manpower Management
  • Personnel Management
  • Management’s Responsibility for and Internal Controls
  • Defense Budget Process
  • Cost and Economic Analysis
  • Business Management Process Improvement
  • Fiscal Law
  • Finance
  • Accounting
  • Auditing
asmc is your professional society
ASMC is your Professional Society
  • Non-profit association founded in 1948
  • Serves financial managers in:
    • Five military services and defense agencies
  • Today has about 20,000 members
    • 150 chapters, 78 corporate members
  • Major offerings
    • National PDI and regional PDIs
    • Chapter training programs
    • Certification program (CDFM)
    • Professional journal
    • Selected training courses
what s happening now
What’s Happening Now?
  • OMB policy on “Conferences”
  • DoD course-based certification
  • Virtual PDI
  • Sequestration
  • Audit Readiness
gsa scandal
GSA Scandal
  • 300 Feds go to Las Vegas in October 2010
  • Spent $822K: Planning $136K, Conference $686K
  • Failed to follow contracting regulations
  • Incurred excessive and impermissible costs for food
  • Incurred impermissible and questionable miscellaneous expenses
  • Planning goal: make it “over the top”
fall out
Fall Out
  • President’s Executive Order, Nov 9, 2011
    • 20 % reduction in travel in FY 2012 vs. FY 2010
  • IG Report on GSA Conference, April 2, 2012
  • Sen. Coburn (R-OK) amendment to Postal Reform
  • OMB memo, May 11, 2012
    • Reduce FY 2013 travel by 30% vs. FY 2010
    • Over $100K needs higher level approval
    • $500K prohibition, but it can be waived
impact on asmc
Impact on ASMC
  • PDI and Mini-PDI’s qualify as “conferences”, especially if held in commercial facilities
  • Costs for approval parameters include: fees, food, lodging, transportation paid by Government
  • Presently, approval levels at DCMO and DepSecDef
  • Approval levels may change after the 1st round
  • Greater reliance on Virtual PDI
virtual pdi
Virtual pdi
  • Began with PDI 2012
  • Presently 1,184 paid participants
  • 73 workshops and interviews on line
  • CPE available
  • CPE management tool
course based certification
COURSE-BASED CERTIFICATION
  • Approved in FY 2012 NDAA
    • Pilot begins October 1, 2012 (FY 2013)
    • Three skill levels:
      • Basic, Intermediate and Advanced
    • Specific course requirements
    • Continuing Professional Education (CPE)
    • Certification encouraged
    • Bachelor and advanced degrees encouraged
sequestration
Sequestration
  • $1.2 Trillion over ten years
    • 50% to National Security, or $600 B
    • For DoD, about $50 Billion a year
    • Percentage reductions by appropriation title
    • President can exempt Military Pay
    • No programmatic discretion
    • Happens January 2, 2013
sequestration cont d
Sequestration (cont’d)
  • Good News:
    • “It can’t be allowed to happen” - DoD leaders
    • “It won’t happen” – Congressional leaders
  • Bad News:
    • Decision deferred until after the election
issues for a lame duck congress
Issues for a Lame Duck Congress
  • Debt limit increase
  • Extension of Bush tax cuts
  • Continuing resolution
  • AMT fix
  • Doc fix
  • Sequestration
  • Extension of payroll tax reduction
audit readiness
Audit Readiness
  • Assert audit readiness for Statement of Budgetary Resources (SBR) by end CY 2014
  • Begin audit of SBR in FY 2015
  • Achieve clean audit opinions on all DoD FY 2017 financial statements
audit readiness cont d
Audit Readiness (cont’d)
  • Provide more audit readiness training in the EDFM course
  • Develop an audit readiness training package for alternative delivery methods
what s happening with you
What’s happening with you?
  • Sharpen skills
  • Stay flexible
  • Be mobile
  • Get more training
  • Diversify
  • Certification
help you stand out
Help You Stand Out
  • Test-based Certification
    • Certified Defense Financial Manager
  • Enhanced Defense Financial Management Training Course
    • 3 College Credits

(undergraduate or Graduate with research paper)

  • ASMC awards
help you be a leader
Help You Be a Leader
  • Leadership opportunities
    • In your ASMC chapter
    • In community service
cdfm requirements
CDFM Requirements
  • Complete four years of federal government related financial management experience with an Associate degree or higher), or
  • Complete three years of Defense related financial management experience (without degree), or
  • Complete two years of Defense related financial management experience an Associate degree, or higher.
other training in fy 2013
Other Training in FY 2013
  • Enhanced Defense Financial Management (EDFM) – 5-day training course
  • Acquisition module – 2-day course
  • Audio Conferences
    • Refresher courses for CDFM modules
    • Six other offerings during the year
  • Fiscal Law
    • 1-,2-,3-day courses on-site
pdi 2013 denver convention center
PDI 2013Denver Convention Center

Monday, May 27 – CDFM Review Courses, Module 4 Acquisition (2day)

Tuesday, May 28 – CDFM Review, Testing, MicroSoft Training

Wednesday, May 29– Official Opening, Service Day, General Session

Thursday-Friday, May 30 – May 31Over 100 Workshops, 7 Mini-Courses, General Sessions

assessment results
Assessment Results
  • Members value ASMC – 65% rated high, 6% low
  • ASMC professional development – 87% hi, 2.5% low
  • Member loyalty – 83% likely to renew, 5% not
  • Recommend to colleagues – 78% likely, 5% not
  • PDI – 74% highly satisfied
what our members want
what our members want
  • Attract new and younger members
  • Focused education or certification – contracting and audit
  • Virtual PDI capability
  • More support for chapters:
    • National instructors for chapter meetings
    • Speaker identification
asmc five year plan
ASMC Five-Year Plan
  • NEC approved in June 2011
    • Improve communications
    • Develop a virtual PDI
    • Better Chapter outreach
    • Provide more educational offerings
five year plan goals
Five-Year Plan Goals
  • Increase membership to 50% of FM workforce
  • Increase active CDFM’s to 15% of FM workforce
  • Achieve 75 Five-Star Chapters
  • Attain 2,000 participants in virtual PDI
  • Develop a stronger image outside the FM community
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