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Improvements made for transportation financial management

SCOTT AIR FORCE BASE, Ill. (USTCNS) --- Collaboration among U.S. Transportation Command, Military Traffic Management Command, and the Defense Finance and Accounting Service improved financial management for transportation assets with the November 22, 2002 implementation of Transportation Financial Management System – MTMC.

MTMC is the Army transportation component of USTRANSCOM. The command is responsible for all the Department of Defense's surface transportation shipments as well as several core transportation processes.

The Army Audit Agency evaluated TFMS-M and determined the software met the requirements of the Federal Financial Management Improvement Act of 1996. As a result, the DoD Comptroller, approved TFMS-M as the new financial management system for MTMC. TFMS-M processes and records all budgetary, accounting and vendor pay transactions for MTMC.

USTRANSCOM is a unified command providing global transportation management, employing an integrated transportation system across the range of military operations through its Transportation Component Commands: Air Mobility Command, Military Sealift Command, and Military Traffic Management Command, allowing America to project and sustain military forces whenever, wherever and for as long as they are needed.

The Defense Finance and Accounting Service is the world's largest finance and accounting operation. DFAS was created in 1991 to reduce the cost of Defense Department finance and accounting operations and strengthen financial management through consolidating finance and accounting activities across the department. For more about the DFAS, please visit http://www.dfas.mil.
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