Financial Management: Funding Invoices to Expedite the Closure of Contracts Before Transitioning to a New DoD Payment System

Abstract

The Defense Finance and Accounting Service (DFAS) plans to replace the payment and entitlement function performed by the Mechanization of Contract Administration Services (MOCAS) system with a new system, the Defense Procurement Payment System. To facilitate this transition, the Deputy Secretary of Defense directed the Military Departments and the Defense Contract Management Agency to develop comprehensive plans for closing out all completed contracts. Plans for the orderly transition from MOCAS to the Defense Procurement Payment System for contracts with continuing requirements were also to be developed. DFAS was to assist in reengineering the reconciliation process and developing procedures to support the retirement of MOCAS. Also, DFAS was to assist in the close out process for all completed contracts. At the time of audit, 116,563 contracts were pending closure. Of the 116,563 contracts, 3,954 may require current-year funding before a contract payment can be made.

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Document Details

Document Type
Technical Report
Publication Date
Mar 29, 2002
Accession Number
ADA403132

Entities

Organizations

  • Office of the Inspector General, U.S. Department of Defense

Tags

Communities of Interest

  • Cyber
  • Weapons Technologies

DTIC Thesaurus Topics

  • Accounting
  • Acquisition
  • Air Force
  • Army Aviation
  • Auditing
  • Contract Administration
  • Contracts
  • Department Of Defense
  • Finance
  • Financial Management
  • Governments
  • International Relations
  • National Security
  • Navy
  • Procurement
  • Security
  • United States

Readers

  • Defense Acquisition Program Management
  • Government Contracting/Procurement.