The Pentagon will be building a new system of financial management that will rely on financial engineering and other disciplines in order to improve its performance.
The Defense Finance and Accounting Service (DFAS) will take over as the lead agency for managing the Defense Department’s financial assets, the Department of Defense (DoD) announced.
The move comes just weeks after the DoD cut its spending by $7.7 billion, and will have a major impact on the Pentagon’s ability to pay for military equipment, as well as its ability to repay its debt.
The $4.6 trillion Pentagon has $2.4 trillion in outstanding debt, and the Pentagon will need to make payments on that debt, including interest, if it wants to pay its bills.
The military is currently in default on about $600 billion of its $5 trillion debt.
The Department of Energy has $300 billion in outstanding loans, and is also in default.
As part of the deal, the Pentagon is set to become the first department to hire a financial engineering graduate.
“DFAS will take the lead in developing the department’s new financial engineering architecture and process, which will incorporate financial engineering techniques, data analytics and financial modeling to provide the Department with better understanding of its financial assets and the opportunities for enhanced performance,” a Pentagon statement read.
“DFAS’ leadership team will lead the development of a new financial management framework for the Department.”
The move is the culmination of a year-long effort by the DoA to improve financial management, as part of a series of steps aimed at reducing the DoP’s debt burden.
Last year, the DoDs spending cuts forced it to make significant cuts in some of its key programs, including the military.
The DoD said that the cuts resulted in “significant reductions” in its operational readiness, as it faced fewer staff and fewer resources to do its job.
“The DoD has identified the need to address the critical and critical business challenges posed by the continuing global threat of cyber threats,” the DoAs chief financial officer, Michael R. Fuchs, said in a statement at the time.
“The Defense Department will not be able to address all of its critical business requirements without an efficient, efficient and effective financial management process that can better manage its assets and pay down its debt, with the goal of providing the best long-term financial health for the DoL and its members.”
The department will be required to build a “financial engineering architecture” that will help the DoB manage its finances.
This will involve a system that uses advanced statistical techniques, quantitative modeling, and financial engineering principles to identify areas of the DoN that need to be addressed to make the department more effective and efficient, according to the DoE.
The new framework will be able “to better align and align” with DoD policies and procedures to provide more flexibility to the department to make decisions on the budget, the statement added.
The department is expected to be ready to use the new framework by December, according the Pentagon.
The framework will help make the DoC’s financial planning “much more flexible and agile,” the statement read, as the DoCs financial planning and management system has been a significant factor in improving the DoU’s ability for the department “to manage its financial health.”
The DoP also plans to use its financial engineering training to help the military better manage the military’s financial resources, as this will allow it to better understand its debt and make decisions about how to manage its debts.”DFAs training will enable DoD to better manage and manage its capital budget to better protect its long-range military interests,” the department said in its statement.
“We believe that DFAS training will also help the Armed Forces better understand how their debt and financial assets are managed and how best to use these assets to better leverage their resources and capabilities in support of national security.”
The Pentagon is also taking steps to improve the Pentagons ability to absorb its debt burden and help the agency manage its debt better.
In a statement, the department acknowledged that the debt burden has “increased significantly in recent years and the DoT’s ability is limited by the need for continued investment in the DoH’s military readiness and readiness-based capability.”
The military’s debt is $2 trillion, which means it has $4 trillion of outstanding debt and $400 billion of debt outstanding.
The Pentagon has been trying to reduce its debt by about $1 trillion over the past few years.
The DoL will have about $200 billion in total debt and a total of $1.2 trillion of debt that is not held by the military, according its statement, which said that it will have the ability to make loans and pay them off with interest.
The military will also be able take advantage of other tools that the DoM already has to help reduce its budget.
The statement said that there are “new tools, including technology-driven debt reduction tools, as a result of the acquisition of advanced technologies and services for