Publication:
IMPROVING MARINE CORPS MANAGEMENT OF FOREIGN CURRENCY FLUCTUATION TRANSACTIONS

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Authors
Carrigan, Daniel P.
Subjects
foreign currency
fluctuation
exchange rate
funding
financial management
finance
appropriation
Programs and Resources
P&R
Advisors
Candreva, Philip J.
Wang, Chong
Date of Issue
2020-12
Date
Publisher
Monterey, CA; Naval Postgraduate School
Language
Abstract
This project researched the policies and processes of the Marine Corps to manage foreign currency fluctuations. The research methodology began with a literature review, followed by a review of government laws, regulations, and policies. This research also included interviews with Headquarters Marine Corps personnel involved in foreign currency transactions and a data analysis of transactions in the Marine Corps’ accounting system and defense budget rate reports. Investigation into how the Marine Corps pays for foreign currency losses found inefficient methods. The Marine Corps funds these expenses internally because Department of Defense policies hinder reimbursement. Furthermore, the current procedures lose fiscal transparency and hinder the auditability of foreign currency transactions. In addition to recommending courses of action to improve those issues, this project also addresses the exchange rates used when incurring foreign obligations. Through improved management of foreign currency transactions, the Marine Corps can annually reallocate millions of dollars of government funding to mission-essential expenses, increase its auditability as an executor of taxpayer funds, and alleviate concerns of fiscal law violations.
Type
Thesis
Description
Series/Report No
Department
Graduate School of Defense Management (GSDM)
Organization
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NPS Report Number
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Distribution Statement
Approved for public release. distribution is unlimited
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.
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