A Navy Escrow Account: Increasing Financial Flexibility

Abstract

The current fiscally constrained environment creates several challenges for Department of the Navy (DoN) and Department of Defense (DoD) financial managers. One of the most critical is balancing operational requirements with the need to replace ships, aircraft, and facilities. To that end, transforming the current financial practices within the DoN/DoD is required. This paper addresses the proposed Navy escrow account, a mechanism for eliminating wasteful spending while maximizing all available financial resources. The account, as envisioned, would provide financial managers with the incentive to generate cost savings and the means by which those funds could be recapitalized. The creation of an escrow account coincides with the Navy's Sea Enterprise initiative, the resource enabler of Sea Power 21. Sea Enterprise builds upon the three strategic imperatives of changing the culture, changing structure and processes, and harvesting savings.

Open PDF

Document Details

Document Type
Technical Report
Publication Date
Jun 01, 2003
Accession Number
ADA423545

Entities

People

  • Marcus A. Pritchard

Organizations

  • Naval Postgraduate School

Tags

Communities of Interest

  • Air Platforms
  • Energy and Power Technologies
  • Ground and Sea Platforms
  • Weapons Technologies

DTIC Thesaurus Topics

  • Business Administration
  • Congress
  • Department Of Defense
  • Education
  • Energy Management
  • Financial Management
  • Governments
  • Information Operations
  • Law
  • Management Personnel
  • Money
  • National Governments
  • Naval Operations
  • Naval Warfare
  • Organizational Structure
  • Resilience
  • United States

Readers

  • Defense Financial Management and Audit.
  • Economics
  • Maritime Combat Support and Expeditionary Logistics.