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Fiscal Law latest /Questions With Verified Answers (A+)
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Fiscal Law latest 2023-2024 /Questions With VerifiedAnswers (A+)
Quiz :Fiscal Law - √Answer :Body of law governing use of federal funds
Quiz :Fiscal Year - √Answer :1 October ‐ 30 September
Quiz :Period of Availability - √Answer :Most appropriations available for
obligation for limited time period
Funds not obligated in timely manner generally expire
Quiz :Obligation - √Answer :Transaction legally binding the government to
make payment
E.g., place an order, award a contract, receive services
Quiz :Budget Authority - √Answer :Federal law provides to incur obligations
up to specified amount
Quiz :National Defense Authorization Act (NDAA) - √Answer :Authorizes
programs, but doesn't provide obligation authority
E.g., end strength; DoD FM Certification Program; government
, lodging program (i.e., Integrated Lodging Program)
Quiz :Appropriation Act - √Answer :Statutory authorization "to incur
obligations and make payments out
of the Treasury for specified purposes
Quiz :Continuing Resolution Authority - √Answer :In the absence of a regular
appropriations act ‐ provides budget
authority to continue operations
Quiz :Affirmative Authority - √Answer :"The established rule is that the
expenditure of public
funds is proper only when authorized by Congress, not
that public funds may be expended unless prohibited by Congress.
‐ United States v. MacCollom,
426 U.S. 317, 321 (1976)L
Governed by:
• The U.S. Constitution
• Legislative Authorization and Appropriations Acts
• Judicial Court Rulings and Comptroller General decisions
Quiz :Purpose - √Answer :"Appropriations shall be applied only to the objects
for which the appropriations were made except as
otherwise provided by law."
31 U.S.C. 1301(a)
Three part expenditure test ...
Must be for a statutory purpose or necessary/
incident to the general purpose of the appropriation
Not prohibited by law
Not otherwise provided for in another appropriation
Quiz :Purpose - √Answer :Necessary/incident to general purpose of the
appropriation...
• Congress can't list everything....so agencies have
reasonable discretion...
• Must be reasonably necessary
• Materially contribute to mission accomplishment?
• Or is it nice to have?
• Doesn't have to be only or best way
• Determinations are fact, agency, and purpose specific
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