IMPROVING MARINE CORPS MANAGEMENT OF FOREIGN CURRENCY FLUCTUATION TRANSACTIONS

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.

Grantor dc:publisher

Monterey, CA; Naval Postgraduate School

Year dc:date.issued

2020

Author dc:creator

• Carrigan, Daniel P.

Advisors dc:contributor.advisor

• Candreva, Philip J.
• Wang, Chong

Statement dc: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.

Handle dc:identifier.uri

https://hdl.handle.net/10945/66601

OAI identifier oai:identifier

oai:calhoun.nps.edu:10945/66601