Fiscal Law Test Questions
with Correct Answers
Fiscal Law - ANSWER Body of law governing use of federal funds
Fiscal Year - ANSWER 1 October ‐ 30 September
Period of Availability - ANSWER Most appropriations available for obligation for
limited time period
Funds not obligated in timely ma...
Fiscal Law Test Questions with Correct Answers Fiscal Law - ANSWER Body of law governing use of federal funds Fiscal Year - ANSWER 1 October ‐ 30 September Period of Availability - ANSWER Most appropriations available for obligation for limited time period Funds not obligated in timely manner generally expire Obligation - ANSWER Transaction legally binding the government to make payment E.g., place an order, award a contract, receive services Budge t Authority - ANSWER Federal law provides to incur obligations up to specified amount National Defense Authorization Act (NDAA) - ANSWER Authorizes programs, but doesn't provide obligation authority E.g., end strength; DoD FM Certificatio n Program; government lodging program (i.e., Integrated Lodging Program) Appropriation Act - ANSWER Statutory authorization "to incur obligations and make payments out of the Treasury for specified purposes Continuing Resolution Authority - ANSWE R In the absence of a regular appropriations act ‐ provides budget authority to continue operations 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. C onstitution • Legislative Authorization and Appropriations Acts • Judicial Court Rulings and Comptroller General decisions Purpose - ANSWER " Appropriations shall be applied only to the objects for which the appropriations were made except as other wise 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 Purpos e - 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 Typical Questionable Expenses for Purpose - ANSWER • Clothing • Food ‐Exceptions ‐Formal Meetings and Conferences ‐Training ‐Award Ceremonies • Entertainment • Decorations • Business Cards • Fines and Penalties • License and Certificates • Miscellaneous Personal Expenses Fiscal Law Analysis - ANSWER Purpose, time, and amount Time - ANSWER Agencies may not obligate in advance of... An enacted appropriation Receipt of funds from higher headquarters Is appropriation available... When goods/services needed? Obligation made or adjusted? Bona Fide Need Rule ‐ Service Co ntracts Bona Fide Need Rule - ANSWER • Services are the bona fide need of the fiscal year in which they are performed
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