Fuel prices are unstable at best, and have trended up consistently for decades. For a consumer, this is a serious issue. For the Air Force, it has an enormous impact. Aviation Fuel accounts for a significant operating cost for the Air Force and the volatility in fuel prices over the past year has introduced even more uncertainty for the DoD, as a whole, to manage the execution of the Flying Hour Program within budget.
Fuel Transaction Program Management (FTPM) is a tool, available via subscription, that helps organizations with fuel management by organizing, reconciling and recording the volumes of Aviation Fuel Receipts.
Fuel Transaction Program Management (or FTPM) helps units and commands save time and money, as well as, prepare for future audits.
The need to accurately account for individual fuel expenditures is a required accounting practice and subject to audit. With hundreds of thousands of transactions each year, the budget impacts of improperly charged transactions can be massive. Reconciling these transactions manually, line-by-line in spreadsheets is cumbersome, time consuming, and leaves open the possibility of missing potential disconnects that can add up to millions of dollars.
FTPM supports the fuel reconciliation process by integrating data from a variety of sources and performing automated matches. FTPM employs business rules that check each transaction and highlighting transactions that require review or follow up such as Duplicate Charges, Transactions that exceed the maximum capacity of the fuel tanks for a particular aircraft, purchase of non-contracted fuel where contract fuel was available, etc. The system provides the capabilities to attach notes and supporting documentation for all follow up activities as required for audits. The system is also designed to track the progress of Reversal posts received for erroneous charges. In addition, unbilled transactions manually entered into the system can be tracked continuously and matched to billed transactions once billed. When these unbilled transactions carry over from one year to another, FTPM provides tools for tracking across fiscal years.
SOFTWARE THAT PAYS FOR ITSELF
In FY22 alone, The Air National Guard saved over $2.5 million by identifying and correcting duplicate charges through FTPM.
As a centralized data source, FTPM provides one version of the truth. This allows everyone to work from the same page and enables organizational oversight on the same data. In addition, FTPM provides powerful analytic and reporting tools. End of the Fiscal Year support with FTPM is simplified, streamlined, and straightforward.
In the Air Force, each Wing is required to reconcile all charges on a monthly basis. FTPM enables the Wing Refueling Document Control Officer (WRDCO) to certify the accuracy of all transactions and facilitates the signing of the Monthly Memorandum to meet the AFI 11-253 and Financial Management requirements. FTPM also provides a sales receipt (DD1898) import tool with automatic reconciliation capability for home station refueling. These alerts point the WRDCO toward the transactions that offer potential savings.
As part of a Suite of Flying Hours software from ITI, FTPM communicates with the Flying Hours Program Management (FHPM) system and the Fuel Inflight Program Management (FIPM) system. These programs all benefit from
shared data.
THE CASE FOR INTEGRATED SYSTEMS – FOCUS ON READINESS
When fuel costs drastically increased in FY22, and the ANG Flying Hours program was executing over President’s Budget (PB). Leveraging analytics available from FTPM and other components of the Flying Hour suite, the ANG analyzed extended fuel costs versus consumption cost to identify a $60M disconnect. This allowed the ANG to confidently continue flying out their program at 100%, positively impacting mission readiness. Click below and find out why this is important:
FTPM is a powerful, effective, and convenient system that saves time, boosts productivity, and improves access to higher quality data for better decision making. Contact Infinite Technologies, Inc. for more information about Fuel Transaction Program Management (FTPM) software today!