The final account down: 97 CPTS closes out 2020

  • Published
  • By Senior Airman Breanna Klemm
  • 97th Air Mobility Wing Public Affairs

The 97th Comptroller Squadron Financial Analysis Flight closed out the 2020 fiscal year on Sept. 30, 2020, at Altus Air Force Base, Okla.

The end of year closeout is an annual event where the 97th CPTS FMA utilizes the month of September to finalize all purchases the 97th Air Mobility Wing made throughout the fiscal year.

“The end of our fiscal year is on September 30 every year,” said Renee Ray, a budget analyst for the 97th CPTS. “Our purpose every year is to make sure all of the funds that we receive from higher Air Force is spent across the wing down to the last penny before this day.”

During the closeout, two teams of budget analysts and an accounting team receive, review and resolve all purchases made throughout the 97th AMW in 2020.

In September however, the final month of the government’s fiscal year, last-minute purchases can make this the busiest time of year for the 97th CPTS. Renee explains how there is a lot of behind the scenes work with other squadrons during the end of year closeout. The teams are required to analyze large amounts of financial data spent throughout the year which resulted in working long hours to close out the year.

“My team and I are responsible for tracking all the funds and pushing the documents through the proper channels for purchases,” said Ray. “But the overall process is a combination between us and the different groups around the base. Group resource advisors send us the purchases their squadron wants to make and we then work with the 97th Contracting Flight to make sure those purchases go through. It really takes everyone's effort in the end to make sure all of the funds go through.”

Renee explains how the end of the year is a critical time for members of the 97th CPTS to make sure all requirements and needs for the 2020 fiscal year are done properly.

“The funds we receive every year are one-year funds, that means we only get to use the money from October 1 to September 30,” said Ray. “The closeout is important to us because if we don’t use the funds by the end of the year, we do not get them back and it really is a team effort to make sure the closeout is done properly. It takes huge amounts of effort and time from every squadron on base to make sure we are set for the following year.”

Thanks to the 97th CPTS FMA team, each year Airmen are better equipped to improve the quality of support toward the mission of training exceptional mobility Airmen.