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Article: Transforming DFAS: generating value and eliminating waste in the world's largest finance and accounting operation.
- Article from:
- Armed Forces Comptroller
- Article date:
- September 22, 2003
- Author:
CopyrightCOPYRIGHT 2003 American Society of Military Comptrollers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Today's Defense Finance and Accounting Service (DFAS) pays about 6 million people, processes 7.3 million travel vouchers, handles 11.2 million invoices, records 124 million accounting transactions, manages nearly $200 billion in military trust funds, and disburses more than $346 billion every year. (1)
While achieving this mission, the DFAS has steadily reduced the percentage of the Department of Defense (DoD) budget spent on finance and accounting from 0.56 percent in fiscal year (FY) 1999 to about 0.34 percent in FY 2003. The DFAS team has made more of the DoD dollar available for training, equipping, and protecting soldiers, sailors, airmen, and marines while ...