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“Our high-performing financial management experts operated flawlessly this year, maintaining the flexibility necessary to meet fiscal challenges and ensure the mission,” said Maj. Gen. Frank R. Verdugo, AFMC Comptroller. “Our teams worked closely with the Air Staff and AFMC centers to ensure funds were aligned and distributed to support multiple efforts across a wide-ranging portfolio to support critical mission requirements. Our success is a direct result of their hard work.”

The following is a recap of the primary AFMC portfolio accomplishments in Fiscal Year 2024.

Operation and Maintenance

AFMC executed $3.2 billion in Operation and Maintenance funds in FY24, a 3.2% increase in funding over the prior fiscal year. Mid-year funding realignments enabled the command to source critical requirements and avoid mission degradation. These late-year realignments facilitated $8.8 million dollars in end-of-life technical refreshes and IT support services at multiple locations; $6 million for the Multi-Spectral Test and Training Environment Site Modernization Retractable Dome; and drove the necessary funding for several key mission needs.

AFMC also sourced $19.6 million to meet several unfunded requirements in FY24, mitigating readiness gaps across multiple areas. This included the allocation of $7.7 million towards Combat Ready Airmen needs, funding the operational energy savings account for the J85 T5 System Tester and F119 Project Orion at $4.1 million, and enabled $1 million for quality-of-life requirements at multiple installations.

Investment

The AFMC Research, Development, Test, and Evaluation and Procurement portfolio team continued to support platform procurement and enterprise modernization efforts this fiscal year. The team managed ongoing procurements of the F-35A, KC-46A, and F-15 E/X, and supported nuclear modernization efforts. AFMC also invested heavily in advanced capabilities supporting integrated deterrence, ensuring collective systems provide an advantage over any potential adversaries.

Working Capital Fund

The AFMC Working Capital Fund executed $17.9 billion in support of business operations enterprise-wide. The WCF team was able to recover $237 million in aged depot maintenance losses, processing 84 orders through 45 program offices and all three AFMC depots to collect these funds in just 10 days. The WCF team also led efforts to make critical data more easily discoverable, understandable and useful for advanced analytics to help address challenges across the Department of Defense.

Centralized Asset Management

The Centralized Asset Management Team executed a $20.6 billion portfolio, which included a$14.2 billion in Air Force Active Duty Weapon System Sustainment, and a $6.4 billion Active Duty flying hour budget. The Weapon System Sustainment team resolved late fiscal year requirements for the F-35 and F-22 portfolios, strategically leveraging the Readiness Activity Group to mitigate $1 billion in readiness disconnects. The CAM team also processed $510 million in fiscal year reimbursements for Foreign Military Sales partners, NASA, Air Force Reserve Command, Air National Guard and more, reinforcing support for Air Force operational readiness.

Small Business

The AFMC Small Business office set a record of $10.2 billion obligated, an increase of $500 million over FY23.

Contract award records were set in the following areas:

• Small Disadvantaged Business Contracts - $3.8 billion
• Service-Disabled Veteran Owned Small Business Contracts - $1.2 billion
• Small Business Innovation Research Phase III Awards (260 contracts) - $1 billion

"This year's phenomenal performance is evidence of a command-wide commitment in utilizing small business solutions to meet mission needs and strengthen our Nation’s industrial base," said Jeffrey Mellott, Director, AFMC Small Business.

The AFMC Small Business team facilitated 10 outreach events, helping to educate more than 1,100 small business representatives on topics including the Department of the Air Force Operational Imperatives; Great Power Competition needs; data rights and patents; supply chain risk management; DAF budget processes; and more. These events are key to developing and maintaining strong relationships between AFMC and small businesses, ensuring delivery of the technology the DAF needs today and in the future.

Contracting

AFMC’s Contracting team obligated $73 billion this year – a $12.2 billion increase over FY23 - completing 57,400 Federal Acquisition Regulation (FAR) actions. This represents 73.8% of Air Force spending and 52% of the service’s contract actions for FY24. AFMC also completed 3,224 non-FAR actions, totaling $2.1 billion.

Among several notable efforts this year, the AFMC Contracting team established the Digital Acquisition Tools Environment in Air Force Contracting Central, facilitating widespread awareness of Digital Materiel Management tools relevant to the field. One tool, the Unliquidated Obligations Tool v2.0, captures data from 97,000 contracts across the DAF enterprise and provides buying offices full visibility into the entire lifecycle of $135 billion of obligated funds. This increases DAF purchasing power by allowing contracting, financial and program managers to make proactive, data-driven business decisions ahead of funds expiring or canceling.

“We continue to lead efforts to optimize AFMC’s contracting workforce, policies and operations to meet the needs of the Great Power Competition,” said Heidi Bullock, Director, AFMC Contracting. “Our dedicated focus on leveraging digital tools, data and capabilities played a key role in our FY24 success, which we look to build upon as we enter this new fiscal year.” 

Additional contracting success in FY24 include:

• Enhancement of the CONWRITE Migration Tracker Tool to facilitate better work planning through data oversight.
• Production of the Tracking Inspector General Inspection Report Tool to augment inspection requirements more efficiently.
• Development of the Automated Self-Inspection Reporting Tool to identify contract award errors and trends.
• Creation of the Contracting Functional Digital Guide to provide information on digital tools, implementation and training for the workforce.
• Establishment of the Contracting Talent Management System, a user-friendly executive succession planning tool for the contracting career field.

FY25 Outlook

Fiscal Year 2024 was another record year across all portfolios for AFMC, with notable successes in the small business and contracting realms. AFMC financial management teams leveraged smart programming, innovation and resourcefulness to address fiscal challenges across the mission set.

As FY25 gets underway, AFMC teams will continue to build on FY24 successes and are prepared to address any additional challenges that may emerge.

“I could not be prouder of the teamwork and effort of our FM teams considering this year’s fiscal challenges. Their steadfast dedication kept AFMC mission steady and ready to support enterprise needs,” said Verdugo. “We will continue to build on our successes as we move into FY25, ready to support any and all challenges that come our way.”