CAF Finance Guide
Category: Guides
Published date: Apr 12, 2024
TABLE OF CONTENTS
A. INTRODUCTION 1 B. UNIT FINANCIAL RESPONSIBILITIES 1 1. Unit Leader Duties 1 2. Finance Officer Duties 2 C. FINANCIAL POLICIES 4 1. General Policies 4 a. Legal Status of Units 4 b. Solicitation of Contributions by a Unit 5 c. Fiscal Year 5 d. Federal Identification Number 5 e. Government Contract (Military) Numbers 5 2. Specific Policies for All Units 5 a. Budget Planning 5 b. Donations and Revenue 6 c. Expenditures 7 d. Purchase Orders 7 e. Business Transactions 8 f. Hiring 10 g. PX and Other Charges with Headquarters 10 h. Raffles/Bingo Operations 10 i. Artifacts 11 j. PX Items on Consignment 11 k. Prohibition of PX Officer being a Supplier 11 l. Hangar Purchases and Leases 11 m. Hangar Insurance 11 n. CAF Unit owned vehicle Insurance 12 o. Unit Financial Assessment 12 p. Overview of Charges 12 q. Delinquency Policy 13 3. Specific Policies for Units with Aircraft 13 a. Aircraft Sponsorship Donations 13 b. Other Monetary Donations to Unit Aircraft 14 c. Sale of Aircraft Rides 14 d. Reimbursement of Aircraft Invoices 14 e. Coordination with Headquarters 14 D. Reporting Requirements 15 1. General 15 2. Basic Accounting Records and Procedures 15 a. General Information 15 b. Reporting Frequency 16 3. Procedures 16 a. Balance Sheet 16 b. Statement of Activity 18 c. Bank Reconciliation, 18 d. Petty Cash Reconciliation 18 e. Budget 19 f. PX Inventory 19 g. Property Inventory 20 h. Proffer of Gift 21 i. Non-Cash Donations Journal 22 j. Asset Transfer Form 22 k. Cash Donation Form 23 E. ASAP (Annual Standardized Assessment Program) 26 1. Annual Accounting Assessment 26 2. 9% of Revenue Assessment 26 F. Sample Forms 27 G. Accounting Code Descriptions 27
This document outlines the policies and procedures for the fiscal and financial operation of all CAF Units, including Airbases, Wings, Squadrons, Detachments and Sponsor groups This regulation should be used by all Unit Staff Officers, Museum and Headquarters employees.
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