Final answer:
The Defense Finance And Accounting Service supports the United States Department of Defense, managing its budget and finances, including personnel pay and retirement benefits. They play a vital role in maintaining fiscal integrity and executing the budget for a category that comprises roughly 71% of federal spending.
Step-by-step explanation:
The Defense Finance And Accounting Service (DFAS) provides support to the United States Department of Defense, including military branches such as the U.S. Army, Navy, Air Force, and Marine Corps. Additionally, DFAS services support major defense agencies and military retirees and annuitants. As for its roles and responsibilities, DFAS is tasked with handling the department's budget and finances, which includes ensuring that military and civilian defense personnel are paid accurately and on time, managing military retirements and veterans' benefits, and overseeing and executing the Department of Defense budget. Apart from these financial management tasks, DFAS also contributes to cost estimation, accounting, and financial reporting to maintain the fiscal integrity of the Department of Defense.
The scope of the DFAS's responsibilities becomes apparent when considering that national defense spending is one of the largest categories of federal expenditure. As indicated, national defense, along with Social Security, healthcare, and interest payments, compose about 71% of all federal spending. The complexity of defense-related financial operations is considerable, dealing with various activities ranging from domestic training operations, such as those of the U.S. Army 1st Armored Division at Fort Bliss, Texas, to diversified global military engagements.