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FINANCIAL MATTERS

Learn about different types of money management in Navy Reserve operations, from personnel funds to centrally managed purchases and student stipends. Understand the processes and systems involved in financial matters.

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FINANCIAL MATTERS

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  1. FINANCIAL MATTERS

  2. TYPES OF MONEY • OPERATIONS AND MAINTENANCE (O&MN) • RESERVE PERSONNEL, NAVY (RPN) • OFFICIAL REPRESENTATION FUNDS (ORF) • NON APPROPRIATED FUNDS (NAF) • HOST (SCHOOL) FUNDS • FUNNY MONEY

  3. O&MN COST CENTERS LABOR UNIT OPERATIONS COLLEGE TEXT BOOKS TUTORING OTHER PURCHASES CENTRALLY MANAGED TRAVEL TUITION

  4. LABOR • CENTRALLY PAID FROM NETPDTC • TELEPHONE IN / FOLLOW UP WITH TIMECARDS • CHECKS / DIRECT DEPOSIT TO EMPLOYEES • UNIT RESPONSIBLE FOR MANAGEMENT OF EMPLOYEE AND TIME CERTIFICATION AND DOCUMENTATION

  5. UNIT OPERATIONS • FUNDED BY UNIT OPTAR

  6. TEXT BOOKS • DIRECT PAYMENT TO MIDSHIPMAN • $250 SEMESTER / $167 QUARTER • PAID ON 1ST DAY OF SCHOOL IN FALL 10TH OF JANUARY 1ST OF APRIL FOR QTR SCHOOLS

  7. TEXT BOOKS (CONTINUED) • ACTIVATED VIA THE OPMIS SYSTEM • ALL MIDSHIPMEN IN GOOD STANDING AND MEDICAL LOA’S WILL RECEIVE BOOK FUNDS

  8. OTHER PURCHASES • CENTRALLY MANAGED UNIT NOT DIRECTLY INVOLVED WITH PURCHASE • NAVAL SCIENCE TEXT BOOKS • AUDIO VISUAL EQUIPMENT • RIFLE REPAIR • SUMMER TRAINING O&MN OPERATIONS • ETC.

  9. OTE4 CENTRALLY MANAGEDTRAVEL • PAID FOR BY CNET • CNET REQUESTED TRAVEL • NUCLEAR POWER ORIENTATION TRAVEL

  10. TUITION • CENTRALLY MANAGED • APPROX 88% OF EXPENDITURES ($60+ MILLION ANNUALLY) • DOCUMENTS WRITTEN UNDER ESA • CO RESPONSIBLE FOR ACCURACY OF SPENDING

  11. RPN • MIDSHIPMEN CLOTHING • SUMMER TRAINING TRAVEL AND PAY • MIDSHIPMEN STIPEND ($200 PER MONTH) • COMMUTATION IN LIEU OF UNIFORMS

  12. MIDSHIPMEN CLOTHING • MIDSHIPMEN CLOTHING ONLY

  13. MIDSHIPMAN SUMMERTRAINING PAY AND TRAVEL • SUMMER TRAINING PAY ACTIVATED THROUGH THE OPMIS SYSTEM • PAY THROUGH DENVER • TRAVEL ORDERS CUT AT UNIT USING RPN ACCOUNTING DATA

  14. MIDSHIPMAN STIPEND • $250 FRESHMEN, $250 SOPHOMORES $300 JUNIORS, $350 SENIORS . BEGINS ON OCT 1 2001 • ACTIVATED THROUGH THE OPMIS • PAID OUT OF DENVER

  15. COMMUTATION IN LIEUOF UNIFORMS • FOR MILITARY SCHOOLS ONLY • ANNUAL RATES SET BY DOD WITH CNET INPUT • COST OF ISSUING UNIFORMS • PAYMENT GIVEN DIRECTLY TO THE MIDSHIPMAN VIA DIRECT DEPOSIT • NOT RECOUPABLE

  16. HOST (SCHOOOL) FUNDS • UNIT IS A DEPARTMENT OF THE SCHOOL AND RECEIVES A BUDGET • POLICY REGARDING USE OF FUNDS IS BETWEEN THE UNIT AND THE INSTITUTION • DO NOT CO-MINGLE PROJECT FUNDS

  17. FUNNY MONEY • MIDSHIPMEN ORGANIZATION FUNDS • ALUMNI FUNDS • SPECIAL SCHOLARSHIP FUNDS • FUND RAISING FOR CHARITY

  18. FUNNY MONEY (CONTINUED) • NO MIDSHIPMAN WILL BE FORCED TO PARTICIPATE IN THESE FUNDS NEED • ARMS LENGTH TRANSACTION • STRICT ACCOUNTING • NO CO-MINGLING OF FUNDS

  19. ACCOUNTING DATA 1711405.6220/021/32117/0/068566/2D/T01001/63296174730E 1711804.62L9/000/68045/0/068566/2D/000000/63296011100E

  20. TIPS 1711405.6220/XXXXXXXXXXXXXXXXXXXXXXX/63296174730E 1711804.62L9/XXXXXXXXXXXXXXXXXXXXXXX/63296011100E 1711804.62L9/XXXXXXXXXXXXXXXXXXXXXXX/68045011500E 1711804.62L9/XXXXXXXXXXXXXXXXXXXXXXX/000621N2E0E

  21. 1711804.12TX/000/00062/0/068566/2D/000000/0006212598Q

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