95th Comptroller Squadron launches Edwards into new fiscal year

  • Published
  • By Airman 1st Class Mike Young
  • 95th Air Base Wing Public Affairs
EDWARDS AIR FORCE BASE, Calif. --  The buck stops here, as Edwards closed out fiscal year 2007 on Sunday and turned the page to 2008 the next day. 

The 95th Comptroller Squadron is responsible for the accounting and distribution of funds to various base organizations throughout the fiscal year. 

A fiscal year is a 12 month period that is often referred to as a tax-year. It is used to determine annual financial budgets for businesses and other organizations. 

Established specifically not to coincide with a calendar year, the government fiscal year avoids periods of high retail activity, such as the holiday shopping rush. 

Although the fiscal year ends at the end of September, the budget office begins the task of closing out the last fiscal year about 90 days prior, said Maj. Michael Rooney, 95th Comptroller Squadron commander. 

Contracting and the budget office met daily during the last week of fiscal 2007 to review all open commitments and the status of the contract awards for the base, said Toni Sandelli, 95th Comptroller Squadron financial flight chief. 

"We started with weekly updates but went to daily reports (two weeks ago)," Ms. Sandelli said. 

Now that fiscal 2007 is closed out, the comptroller squadron has some changes for the accounting process in fiscal 2008, Major Rooney said. 

The budget office put together an execution plan, which is different from years past, he said. The past financial plan ensured the different organizations on base would receive within five percent of their previous year's budget. 

The new plan involves a closely monitored system where each organization requests the amount of money needed per month and is held to that amount, Major Rooney said. If they don't spend that amount, they are required to provide reasons why. 

The new system is designed to cut out excessive expenditures, he said. It provides a clear view of the resources needed to complete the mission. 

Between the different base contracts, Air Force Flight Test Center and the 95th Air Base Wing, the current budget for fiscal 2008 is nearly $1 billion, Ms. Sandelli said. This amount varies from year to year depending on the different tests being performed on base. 

"This time of year is extremely important for Edwards," Major Rooney said. "We work with the major organizations and contractors on base to make certain they have their purchase requests in and ready to go. We also have the responsibility of accounting for every penny for previous years and the budget for years to come."