Teresa (Terri) McKay was sworn in as the Director of the Defense Finance and Accounting Service (DFAS) on September 15, 2008.
Mrs. McKay leads the day-to-day accounting and finance activities of the Department of Defense (DoD). Each year, the agency disburses over $579 billion by processing 161.8 million pay transactions for 6.6 million military personnel, federal civilian employees, military retirees and annuitants; 10.3 million commercial invoices; and 6 million travel vouchers and settlements. Responsible for 1,232 active DoD appropriations, DFAS is the trust fund manager for $403 billion in foreign military sales and $700 billion in military retirement and health benefit funds. DFAS employs about 12,000 DoD civilian and military personnel at 10 locations throughout the United States, Europe and the Pacific.
Mrs. McKay has served in a variety of previous assignments providing her a strong foundation for her current role. Mrs. McKay served as the DFAS Principal Deputy Director from August 2006 until she became the agency's director. While a military spouse, she was also a DFAS customer serving with the Defense Commissary Agency. In addition, Mrs. McKay was a DFAS employee in Columbus, Ohio and Arlington, Virginia, as well as a policymaker for DoD while serving as the Defense Department's Deputy Chief Financial Officer, the principal advisor to the Under Secretary of Defense (Comptroller)/Chief Financial Officer for accounting and finance matters.
A Certified Public Accountant, a Certified Government Financial Manager and a Certified Management Accountant, Mrs. McKay earned her bachelor's degree from Ferris State University and her master's degree in business administration from Auburn University at Montgomery.
Mrs. McKay is a leader committed to improving financial management through improved business processes and incorporating accounting, finance and internal control requirements for strong DoD end-to-end business processes. Mrs. McKay epitomizes the DFAS motto of Proudly Serving America’s Heroes.
Page updated September 16, 2016