CG OM&S

• What is it?• Where is it?• Rotables *• Audit• What’s left?

TOUCHSTONE PICTURES

TOUCHSTONE PICTURES

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; $1,287,989,568.57 extended value– Inventory located at ALC, 26 Airsta’s & 42 Sectors

– Surface Forces Logistics Center (SFLC)– 21,611 NIINs; $431,174,482.93 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 1.162-3 *

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

Dem

a

nd

OST ALC Warehouse

RFI________

ALC Warehouse

NRFI

Air Station CommercialOGA

Internal Repair 6000 WO Series

Repairable PartsCarcass 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

RCTIf the part cannot be repaired, then

Scrapped

45 days

OST = Order/ship timeRCT = 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 1519• 3 year moving average of repair costs

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

SFFAS 3 SFFAS 6 26 CFR 1.162-3Interpretation 7

SFFAS 3 SFFAS 6 26 CFR 1.162-3Interpretation 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

35U.S. Coast Guard

Questions?

LCDR Khris JohnsCG-845

Khristopher.d.johns@uscg.mil

www.uscg.mil/hq/cg8/cg845