Cdfm 3 1 fiscal law - Study guides, Class notes & Summaries

CDFM MODULE 3.1 What is the basic axiom of Fiscal Law? - 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. U.S. vs McCollum (1976) "Where can the most authoritative source of information on the proper use of appropriated funds be found? Who is it published by?" - ANSWER- Principles of Federal Appropriations better known as the Red Book-- published by the GA...

CDFM Module 3 CDFM Module 3 Exam Questions with All Correct Answers Federal appropriations law can be categorized into which three topical areas? - ANSWER Purpose, Time and Amount In the Department of Defense, final decision of fiscal law questions are "officially" rendered by whom? - ANSWER DoD General Counsel, Courts What are the basic types of budget authority used in the Federal Government? - ANSWER Appropriations Contract Authority Borrowing Authority Monetary Credits Offset...

CDFM Module 3.1 Fiscal Law Basic Axiom of Fiscal Law (the premise of fiscal law) The established rule: Expenditure of public funds is proper only when authorized by Congress, not that public funds may be expended unless prohibited by Congress. Common Law Which law: There is no law that says you can't do it. Fiscal Law Which Law: You can only do what the law authorized you to do. Constitutional Authority: Article 1, section 7,8,9 Provisions of the U.S Constitution that provid...

CDFM Module 1|Correct Answers with complete solutions 3 branches of federal government executive (me), judicial, legislative 1.1.1 OMB Circular A-11 Preparation and Submission of Budget Estimates Comes out every summer. 1.1.2 Contains a section on reporting on employment and personnel compensation 1.2.4 Rules for calculating FTEs can be found here 1.2.13 Best place to find updated laws T Genesis of US Federal Legislative process can be traced to these events Declaration of Ind...

CDFM 3.1 Fiscal Law Exam Questions with Correct Answers True or false? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act. - ANSWER FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the . - ANSWER 31 USC 1341, 1342, and 1517 (Anti- Deficiency Act) The appropriation time line for Military Construction is years. - ANSWER 5 The appropriation time line for Procurement (excluding Shi...

CDFM - Module 3 questions and answers graded A+. What are the three tests that must be met for use of the Necessary Expense doctrine? - ANS. Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - ANS. The Defense Finance and Accounting Service (*DFAS*) (p. 3.1.51) What type of budgetary resources rema...

CDFM All Modules FISCAL LAW T/F? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act? FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the? 31 USC 1341, 1342, and 1517 ADA The 2 provisions of the US Constitution that provide the underpinning for the budget process are? Article 1 Section 8 clause 1, Article 1 Section 9 clause 7 T/F? Article 2 section 8 empowers Congress ...

CDFM - Module 3 questions and answers latest top score. What are the three tests that must be met for use of the Necessary Expense doctrine? - correct answer. Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - correct answer. The Defense Finance and Accounting Service (*DFAS*) (p. 3.1.51) What type of budge...

CDFM Module 3 Exam Questions with All Correct Answers Federal appropriations law can be categorized into which three topical areas? - ANSWER Purpose, Time and Amount In the Department of Defense, final decision of fiscal law questions are "officially" rendered by whom? - ANSWER DoD General Counsel, Courts What are the basic types of budget authority used in the Federal Government? - ANSWER Appropriations Contract Authority Borrowing Authority Mone...