06/27/2013 -- Marine Corps Logistics Command’s Programs and Resources Division plans to implement a new system to organize financial data and improve efficiency for fiscal year 2014.
Memorandum Fiscal Services is a web-based financial management system designed to meet the unique needs of the Marine Corps fund manager community.
MFS is owned and managed by Marine Forces Reserve and is scheduled to be implemented at MCLC in the near future.
“With Memorandum Fiscal Services, Marine Forces Reserve developed a proposed plan to resolve in-house financial concerns,” Lisa Jackson, director, Programs and Resources Department, MCLC, said.
“A few months ago we funded Raymond Thombs, financial systems manager, Marine Forces Reserve, to provide Memorandum Fiscal Services training for organizational financial managers and overview training to Marine Corps Logistics Command senior staff,” Jackson said. “Through this effort, we have sparked the interest of Marine Corps Logistics Command to employ Memorandum Fiscal Services to its full capability for many years to come.
“The implementation of Memorandum Fiscal Services will help Marine Corps Logistics Command’s Programs and Resources Department better analyze, assess and define how money is being spent within the command,” Jackson said.
The new system will provide greater visibility on spending with diminishing federal resources, according to Jackson.
“The goal is commandwide financial management standardization with a streamlined process that will reduce redundancy of effort,” Jackson said. “Memorandum Fiscal Services will enhance our overall capabilities of responding to budgetary and financial data calls from higher headquarters and establish reporting consistency throughout each organization.”
MFS will retain source documentation and historical comments for each financial transaction thus providing cost avoidance from the lack of rework or retrofitting established financial data into periodic budgetary and financial data calls, according to Chief Warrant Officer 2 Christopher A. McBride, financial management resource officer, Programs and Resources Department, MCLC.
The new system will allow the command a more organized overview of budgets and financial data, according to Jackson.
“Memorandum Fiscal Services is in compliance with all applicable financial management policies and directives and will aid our cause of supporting the Marine walking point in harm’s way,” she said.
“The commanding general has his priorities and it’s our job to resource that mission,” Jackson said. “We are here to support the warfighter in any way we can.”