Photo By Airman 1st Class Megan Geiger | U.S. Air Force Staff Sgt. Nikolai Smirnoff, 62d Comptroller Squadron noncommissioned...... read more read more
JOINT BASE LEWIS-MCCHORD, Wash. – With fiscal year 2025 on the agenda, it’s important to take a moment and reflect on the dedication of Team McChord Airmen and personnel with the 62d Comptroller Squadron budget office and the months spent dialing in to complete a successful end-of-year closeout of fiscal year 2024.
Each fiscal year, which runs October 1st to September 30th, the budget office manages the 62d Airlift Wing’s financial budget and holds the essential responsibility of reviewing and allocating the budget to ensure squadrons and units remain on target to execute our mission.
“[The budget office’s] primary responsibilities during closeout are to monitor our various funding sources for availability versus execution,” said Jaielynn Williams, 62d CPTS budget analyst. “Our goal is to wisely spend as close to $0.00 as we can while balancing accuracy and mission priority.”
In a well-coordinated effort, the budget office successfully completed the fiscal year 2024 closeout, ensuring all funding was allocated effectively while paving the way for a seamless transition into the new fiscal year.
“During closeout, we were just making sure any last-minute funding gets spent, or if there are any squadrons that are a little behind on spending their money, we're just encouraging them to use it,” said U.S. Air Force Staff Sgt. Joshua Horton, 62d CPTS financial analysis technician. “We generally start the closeout process about two to three months in advance. We also meet with leadership to go over how much has been spent each quarter and ensure they’re on pace to keep up with those goals.”
From fuel, supplies, improvement projects and equipment across base, the budget office works hard to manage the 62d AW’s needs and purchases critical to support our mission.
“The Transportation Working Capital Fund, 62d AW and 446th Airlift Wing portfolio closed fiscal year 2024 with [approximately] $358 million and the operation and maintenance portfolio, to include Air Base Group and tenant units, with [approximately] $58 million in execution,” said Williams.
Williams stated end of the year closeout challenges arise from handling fallout money from various sources without overspending, however, the budget office team manages and prepares for those challenges by maintaining relationships throughout the year, knowing unit programming and understanding leadership’s mission priorities.
During fiscal year 2023, Team McChord was awarded additional funding as one of the winners of the Mission Execution Excellence Program annual competition in which multiple units across the Air Force participated in. The additional funding went toward the budget for fiscal year 2024.
“While every base has something unique about it, Team McChord’s biggest uniquities would be our ABG and our TWCF funding,” said Williams. “Those programs add unique facets to our communication process as well as our annual milestone goals some of which greatly impact our closeout.”
Williams mentioned one of the biggest accomplishments [for fiscal year 2024] was as a team, McChord was able to execute over $2.2 million in MEEP funding.
“It was a great closeout,” said Horton. “It can be stressful, but we have such a good team that everybody knew what needed to be done and who was filling what roles, so it all ran smoothly, and we were able to stay pretty consistent with our schedule.”
Looking ahead to fiscal year 2025, the budget office’s goals focus on training new team members, executing early and often and refining processes to ensure another successful closeout next year.
“We strive to support each other where and how we can,” stated Williams. “In general, we are monitoring any programs assigned to us, making sure all must-pays are fully executed, tracking closeout deadlines are met and preparing as much as we can to start our programs on the right foot in the new fiscal year.”
| Date Taken: | 10.31.2024 |
| Date Posted: | 10.31.2024 15:32 |
| Story ID: | 484356 |
| Location: | JOINT BASE LEWIS-MCCHORD, WASHINGTON, US |
| Web Views: | 12 |
| Downloads: | 0 |
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