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IMMEDIATE RELEASE

Release No: 264-99
May 25, 1999

NEW DFAS DIRECTOR ANNOUNCED

Under Secretary of Defense (Comptroller) William J. Lynn III today announced that Thomas R. Bloom has been selected as director of the Defense Finance and Accounting Service. Bloom is the former chief financial officer for the General Services Administration.

As the DFAS director, Bloom will oversee the day-to-day accounting and finance activities of the Department of Defense. DFAS employs about 19,000 civilians and 2,000 military personnel at five major centers and 20 operating locations throughout the United States and in the Pacific. The agency processes 9.8 million payments to DoD personnel; 12 million commercial invoices; 450,000 travel vouchers/settlements; 500,000 savings bond issuances; and 120,000 transportation bills of lading, paying out $22 billion a month. DFAS handles accounts for worldwide operations and multidisciplined appropriations of the Department. These financial resources are well in excess of $1 trillion.

Bloom has extensive experience in finance and accounting and is a certified public accountant. As GSA's chief financial officer, he had oversight responsibility for budgeting, accounting, cash management, payroll, financial reporting, strategic planning and performance measurement and financial responsibility for $43 billion annually in government-wide procurement.

Former assignments include serving as inspector general at the U.S. Department of Education from 1995 to 1998 where Bloom conducted audits, investigations, managed fraud control programs and designated security services related to programs and operations for the Department.

Bloom also served as CFO and assistant secretary for Administration at the Department of Commerce where he was responsible for all financial, administrative and budget management issues from 1993 to 1995.

From 1988 to 1993, Bloom was a senior audit partner and director of governmental services and co-chair of its Financial Institution Practice with the national certified public accounting firm Kenneth Levanthal & Company in its Dallas, Texas and Washington, D.C. offices. As an accounting fellow and later the chief accountant for the Federal Home Loan

System from 1985 to 1988, Bloom was the senior accounting and auditing authority for regulation of the troubled thrift industry.

Prior to that, Bloom also spent nine years with two international accounting firms where he rose from junior staff accountant to partner. Bloom is a member of the Advisory Council on Government Auditing Standards and is a past member of the Cost Accounting Standards Board and the Accounting and Auditing Policy Committee for the Federal government.

Bloom earned a bachelor's degree in Business Administration and Accounting from the University of Michigan. He is a certified public accountant.

Editor's Note: For more information, contact DFAS Public Affairs at (703) 607-2716.