FINANCE - PROJECT AQUATONE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP33-02415A000100080018-2
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 2
• Document Creation Date: December 12, 2016
• Document Release Date: April 10, 2002
• Sequence Number: 18
• Publication Date: November 3, 1955
• Content Type: MF

Approved For Release 2002/06/11 : CIA-RDP33-02415A000100080018-2
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Copy of 6
3 November 1955
MORAh'DUM FOR: Director of Administration
FROM ; Administrative Officer (Finance)
SUBJECT : Finance - Project AQUATONE
1. The finance program of the Project is primarily a support
function, established under the Director of Administration with present
major plans, many of which have been initiated, as follows:
a. Determine in light of known and anticipated concepts the
amount of funds needed for the Agency's participation and assist the
Project Director in explaining the needs.
b. Devise and/or modify and establish flow channels for material,
systems of process and procedures for allocating funds, establishing
obligations, performing audits, maintaining recordings of all monetary
transactions and preparing Financial Status Reports for information
and use by the Project Director and other top management officials
associated with the Project in planning and managing the Project.
c. Establish systems necessary to permit prompt and accurate
disposition of the accounts of all contractual transactions initiated
in and/or at the direction of the Project officials. Presently, we
are associated with roughly 16 suppliers, involving approximately 20
contracts and eventually plan for approximately 28 contracts, where
payments are effected either on a weekly or monthly basis.
d. Effecting mechanics for handling, in a secure manner, dis-
bursements covering salary and per diem and/or allowances to approxi..
mately employees at the present time, and it is anticipated
that this num er may reach personnel when the Project is 25X1
fully activated. Additio , en ive arrangements have been
made to handle disbursements to all contractor personnel partici-
pating at each forward facility. A procedure for this process is
currently being devised which will cover each step to be taken for
such personnel from the beginning until the Agency receives credit
adjustments from the contractors concerned for the amounts expended.
e. It is planned that finance and related administrative support
will be furnished at each forward facility and the present concept
is that one individual, with the aid of typing and stenographic
service, will be able to perform the necessary services. However,
if this proves
Approved For Release 2002/06/11 . - P33-02415A000100080018-2
 Approved For Release 2002/06/11 : CIA E12415A000100080018-2
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if this proves insufficient our plans will. be changed to meet
requirements. It is currently expected that the Agency finance
will not be required to effect salary payments to military personnel
attached. to the Project, but any travel directed by the Project is
currently being handled by AQUATONE Finance personnel and it is
expected this condition will continue.
f. In connection with paragraph e above, and since we have a
centralized finance system established within Headquarters, it is
essential that the Finance personnel for each forward facility be
indoctrinated thoroughly within the Project Finance Office prior
to departure to the forward facility. It is quite obvious, because
of the security attached to the Project, that there are many
departures from normal financial processes and it is believed
that a strong government finance representative would require a
minimum of 120 days training before departure. A longer period
would be desirable.
he A rather detailed financial process and the mechanics of
gaining funds, rendering services, maintaining accountings, making
and disposing of reports will be prepared prior to activating the
first forward base.
2. Many problems have arisen and it is expected there will be many
more requiring special system of handling, and we must be prepared to
cope with these items as they arrive.
25X1
Distribution:
~--~& 2 .. Addressee
3 - AQUATONE (Finance)
4 - I(Pro3 Comp)
5 - rono
6 _ Reading
T
Project o ro er
Approved For Release 2002/06/11 : CIA-RDP33-02415A000100080018-2