Barksdale closes out fiscal year 2011

  • Published
  • By Airman 1st Class Micaiah Anthony
  • 2nd Bomb Wing Public Affairs
At the beginning of each fiscal year, Oct. 1, the Air Force receives funding for defense related expenditures. But before that occurs, the previous year's funding must be spent or allocated, this time of year is known as the end of year closeout.

"The money comes from multiple sources," said Richard Compton, 2nd Contracting Squadron. "Some of the money comes from Congress and trickles down to the wing level."

For Barksdale, the finance office and the 2 CONS work together to manage the funds received.

"The finance office manages $110 million in funding for the 2nd Bomb Wing," said Kimberly Luce, 2nd Comptroller Squadron budget officer. "We also do the accounting for the Air Force Global Strike Command, 8th Air Force and the 307th Bomb Wing."

As the countdown to Sept. 30 continues, their workload increases.

"We work 10 times the amount we normally would," said Compton. "We go from a five day working schedule to a six or seven day schedule. It takes a dedicated team from each section to step up and meet the requirements."

If the financial backing is not used, it goes back to the major command and they give it to another unit in need.

"Inflation varies from year to year, most often creating a need for increased funding each year," said Bracken.

Allocating funds to units around the base takes coordination and teamwork, so the Airmen from the finance office are split into financial working groups assigned to specific units.

"Financial working groups rank the importance of requests that are not in the annual budget," said Staff Sgt. Kevin Bracken, 2nd Comptroller Squadron budget analyst. "We all come to a general agreement and present the list to the wing commander. Once approved, we try to fund the projects as fast as we can."

For the finance office and the 2 CONS, time is money.

"The faster we execute, the better chance we have to get the money to fund other projects in the yearly budget," said Bracken.

The 2 CON's projects are planned and funded throughout the fiscal year. Projects taking precedence are approved and completed first.

"Projects that were put to the side based on funding ability become a priority around August and September," said Compton. "We focus on making sure those priorities are met and that the additional funding is allocated to the needs of the wing and groups."

Everything, from paperclips to wing tips and landscaping to construction, is covered in the budget to support the mission.

"For the 2011 fiscal year, $354.6 million will be accounted for by midnight Sept. 30," said Luce.