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Transformation of Money
Disbursing Clerk 1 & C - Military manual for administrative purposes
Identifying, Documenting, Tracking, and Accounting for Irregularities
CO’s   regulations.    The CO establishes the necessary and  proper  restrictions  as  to  the  time,  place,  and frequency of deposits and withdrawals and to the type of objects classified as valuables. Afloat, deposits are normally made on a one-time basis for the duration of the cruise. Deposits of valuables are usually limited to funds,  negotiable  instruments,  and  objects  classified  as jewelry  having  an  intrinsic  value  requiring  additional protection. Objects that are of value only to the owner are not eligible for safekeeping. Documentation  and  Security The DO and all accountable assistants must use the Record and Receipt of Deposits and Withdrawals of Safekeeping   Funds   (DD   Form   2674)   to   record safekeeping   deposits. When more than one person is authorized to accept deposits,  each  accountable  person  must  maintain  the safekeeping deposits placed in his or her custody on a separate  DD  2674.  Safekeeping  deposits  are  not normally   commingled. Each  safekeeping  deposit should be placed in a separate, sealed envelope that identifies the deposit number, the name of the depositor, and the amount or description of the articles enclosed. The identical currency or articles presented by the depositor  must  be  returned  to  the  depositor  at  the  time of withdrawal. For complete details concerning the procedures for the  safekeeping  of  deposits  in  cases  regarding commingled  funds,  prisoners,  or  deceased,  missing,  or incapacitated   persons,   you   should   consult   the DODFMR, Volume 5, chapter 27. DEALING WITH IRREGULARITIES IN DISBURSING  OFFICER  ACCOUNTS Irregularities  in  a  DOS  account  may  affect  the responsibilities   of   several   persons   assigned   to accountable    positions. Irregularities  are  serious business   and   must   always   be   resolved.   Usually, irregularities  in  a  DO’s  accounts  will  fall  into  the following  basic  categories: 1. Physical losses of funds, which can be further segregated  into  the  following: a. Major physical losses (any loss of $750 or more,   or   any   physical   loss   involving evidence of fraud within the accountable function) b. Minor physical losses (any loss under $750 with no fraud involved) 2.  Illegal,  incorrect,  or  improper  payments 3. Overages of funds You will read about these categories in greater detail later in this section. Reporting  Discrepancies Now, let’s talk about the specific actions that must be taken by the DO and the CO when an irregularity is suspected or found. DISBURSING OFFICER.— A DO may know or have reason to believe that a deputy (or any other person) to whom funds have been entrusted has lost or misused (or may be misusing) those funds. In such cases, the DO must report that information to the CO who  exercises  immediate  jurisdiction  over  the  alleged offender. When an irregularity is suspected, the DO must immediately verify that all transactions have been properly posted since the last balancing. The DO must also perform an actual count of all cash and documents held by his or her deputies, agents, and cashiers. If the irregularity  has  not  been  resolved  within  24  hours  of discovery, the DO is required to report the irregularity to  the  CO  and  request  an  immediate  audit  of  all disbursing assets by the cash verification board or team to confirm that the irregularity has occurred. The CO will be informed immediately in writing of the cash verification  team’s  findings. COMMANDING OFFICER.— For  irregularities other than a minor physical loss, an erroneous payment, or an overage, the CO is responsible for reporting the irregularity  through  the  chain  of  command  to DFAS-CL.  If  a  report  is  required,  it  will  not  be classified or made in message form unless unusual circumstances  exist.  The  CO’s  report  to  DFAS-CL must include the following information: The specific type of irregularity All  known  circumstances  (including  the  date  the irregularity  occurred  or  was  discovered) The  dollar  amount The identity of the accountable individual(s) by name,  rank  or  grade,  and  accountable  position The type of investigation that has been or will be convened The  estimated  completion  date  of  the investigation, if applicable 1-11

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