The Defense Finance and Accounting Service (DFAS) is an agency of the United States Department of Defense under the direction of the Under Secretary of Defense (Comptroller). DFAS provides finance and accounting services for the civil and military members of the Department. Headquartered in Indianapolis, IN, it was activated on Jan. 18, 1991. DFAS is the world's largest finance and accounting operation.
DFAS pays all DoD military and civilian personnel, retirees and annuitants, as well as major DoD contractors and vendors. DFAS also supports customers outside the DoD in support of electronic government initiatives. These customers include the Executive Office of the President, the Environmental Protection Agency, the Department of Energy, the Department of Veterans Affairs, the Department of Health and Human Services and the Broadcasting Board of Governors.
DFAS is a working capital fund agency financed by reimbursement of operating costs from its governmental customers (mostly the military service departments) rather than through direct appropriations. This service-provider relationship with its customers has resulted in a continuous innovation and improvement in the quality of services DFAS provides. DFAS has steadily reduced its operating costs and has returned these savings to customers in the form of decreased costs.
In FY 2011, DFAS:
- Processed 171.7 million pay transactions (6.6 million people)
- Made 7.7 million travel payments
- Paid 11.8 million commercial invoices
- Maintained 264.1 million General Ledger accounts
- Managed military retirement and health benefits funds ($559.4 billion)
- Made $554 billion in disbursements to pay recipients
- Managed $30.7 billion in foreign military sales (reimbursed by foreign governments)
- Accounted for 1,165 active DoD appropriations
Read more about Defense Finance And Accounting Service: History, Locations
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