CDFM Module 1 -Exam with complete solutions
Federal Budget - President's Budget
1974 Congressional Budget Act - Requires that the President submits the budget to Congress by the first Monday in February
OMB Circular A-11 - Governs the budget formulation process
Pocket Veto - If Cong...
1974 Congressional Budget Act - Requires that the President submits the budget to
Congress by the first Monday in February
OMB Circular A-11 - Governs the budget formulation process
Pocket Veto - If Congress is adjourned and the President fails to sign a bill during the 10
day period, that bill does not become law.
Enrolled - After a measure has been passed in identical form by both the House and
Senate
Conference Committees - Very powerful and have often been referred to as 'the third
chamber of the Congress
Engrossed Bill - After a bill has passed one body (House or Senate)
Joint Resolutions - May originate in the House or Senate. If originating in the House is
designated "H.J.Res". If originating in the Senate is designated "S.J.Res".
Article 1 of Constitution - Established the Legislative Branch- Congress. Powers to raise
taxes, borrow money, regulate commerce, conscript forces, declare war, and raise and
support armies.
Legislative, Judicial, Executive - The three Branches of the government that the
Constitution established
Articles of Confederation - Predecessor to the Constitution
Congress - Where Laws are Enacted
Article 1 - The part of the Constitution that gives power to raise taxes.
Legislative, Judical, Executive - The Constitution create what the branches of the
government.?
Article 1 Section 8 - Gives Congress the authority to make all laws which shall be
necessary and proper for carrying into Exectuion.
, 23% - The percentage of Gross Domestic Product (GDP) that is Federal Spending in
FY12
36% - Percentage (%) of Federal spending this discretionary spending
Executive Branch - Branch of government that implements laws
Legislative Branch (Congress) - Branch of government that is authorized to raise taxeds
and borrow money
Conference Committee - Committees that attempt to resolve differences between the
House and Senate versions of bills, sometimes called the 'Third Chamber'
Office of Management and Budget (OMB) - An Agency that issues directions for use by
other agencies in submitting their budget estimates
Legislative Branch - Branch of the government that conducts hearings on the
effectiveness of government programs, also known as Congress.
Federal Agencies - The organizations that actually prepare budget estimates in the
Federal budget process
Individual Income Taxes - The largest single source of Federal government tax
revenues
Supplemental - Requests for funds in addition to amounts already appropriated
Appropriation Warrant - Document issued by the Treasury Department following the
signature of the Appropriations Act
Deferral - Postponement in the use of appropriated funds
Recession - Cancellation of appropriated funds
Apportionment - DoD requests this after the appropriation is signed into law
Commitment - An administrative reservation of funds
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