CG OM&S What is it? Where is it? Rotables * Audit What’s left?

TOUCHSTONE PICTURES

WHAT IS MATERIAL NOTHING THIS FISCAL YEAR TOUCHSTONE PICTURES

OM&S; Who’s part is it anyway? OM&S key concepts: – Standardize your standard – Define the end user – Valuation methods – Consumption vs. purchases method

Coast Guard OM&S

CG OM&S Inventory Control Points (ICPs) – Aviation Logistics Center (ALC) – 39,333 NIINs; $1,287,989, extended value – Inventory located at ALC, 26 Airsta’s & 42 Sectors – Surface Forces Logistics Center (SFLC) – 21,611 NIINs; $431,174, extended value – Inventory located at SFLC, 42 sectors

Information System

Standards SFFAS 3: Accounting for Inventory and Related Property Interpretation 7: Items Held for Remanufacture SFFAS 6: Accounting for Property, Plant and Equipment 26 CFR *

CG OM&S OM&S - Two types: Depot and Field Held – Field Held: Purchases method of recognition Expensed when purchased or issued from depot – Depot: Consumption method of recognition OM&S asset until issued to end user for consumption in normal operations; Valuation: historical cost or approved alternate method approximating historical cost; moving average cost flow assumption

Depot vs. End user Depot: held for issuance to end user – Warehouses – Remote stock locations End user: consumed in normal operations – Repair facilities – Field unit – Contractors

17

OM&S: USSGLs 1511: Held for use 1514/1519: Held for repair (w/ allowance) 1512: Held for future use 1513: Excess, obsolete and unserviceable

Not Coast Guard OM&S

Activity: now for the “where” Receipts “Issuances”

Supply Chain - Repairables Demand OST ALC Warehouse RFI ____ ALC Warehouse NRFI Commercial OGA Internal Repair 6000 WO Series Repairable Parts Carcass returned to depot NRFI held in the warehouse until additional RFI assets needed Part repair: - Commercial - OGA vendor - In-house Repaired part receipted at Warehouse: -Commercial/OGA, AP created RFI stored for: -RSP allowance -Asset demand -Depot level maint RCT If the part cannot be repaired, then Scrapped 45 days OST = Order/ship time RCT = Repair cycle time Invoice is paid =Process resulting in a general ledger entry and the use of funds =Process resulting in a general ledger entry and no use of funds Invoice/IPAC received

Valuation Moving Average Price (MAP) Moving average price used per SFFAS 2 components: QOH x MAP = Ext MAP Alternate valuation SFFAS 35 – NIIN like item – Items with no DIS documentation

Average Repair Cost Allowance method USSGL year moving average of repair costs

And now for the fun part! A rotating rotable story:

SFFAS 3SFFAS 626 CFR Interpretation 7

SFFAS 3SFFAS 626 CFR Interpretation 7 GAAP

Touchstone Pictures and Holding Pictures Distribution Co., LLC.

What’s left in the closet? Contractor Held OGA held Unknown remote stock points or populations

35 U.S. Coast Guard

Questions?

LCDR Khris Johns CG-845