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30 Cards in this Set
- Front
- Back
_______________________ prohibits President from withholding funds w/o sufficient reason.
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1974 Impoundment Control Act
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This slows money up temporarily.
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Deferral
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This is when the president requests the money be taken back.
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Recession
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If the president requests recession and congress _______ take action after ______ days the money must be made available to obligate.
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does not, 45
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_________requires a system of administrative control and _________ issues requirements for executive branch while ___________ issues DoD actions to implement.
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31 USC, A-127, FMR Vol 14
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Administrative Reservation of Funds are ____________.
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Commitments
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Commitment accounting is not required for ___________, _________, or ___________.
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O&M, Milpers, WCF
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Legal Reservation of Funds are __________________.
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Obligations
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__________ is a Fiduciary Certification and certifies ____, ________ and ___________.
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Contracting Officer Certification, Purpose, Time and Amount
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Signing a contract __________ the funds.
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obligates
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The certification that the payment request is legitimate is a ___________ certification.
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Pecuniary
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A pecuniary certification means the CO is ____________ liable for any improper payment.
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Personally
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Amount the Outlays exceed the receipts in a fiscal year is _________.
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Deficit
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Measure of government spending is _______________.
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Outlays
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Refers to receipts for specific programs such as Social Security and Post Office.
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Off Budget
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Refers to everything except those items deemed off budget.
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On budget
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Gross Domestic Product is ___% State, ____% Federal and ____% private
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11, 23, 66
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Sources of Federal Funding are __% Individual Taxes, __% SSI, ___ Corporate Taxes, __% excise Tax, and __% Other.
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43, 35, 13, 4, 5
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Discretionary spending is found in ____ ________ appropriations.
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12 annual
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Federal Spending is made up of ___% National Defense Discretionary, ___% Non-Defense Discretionary, __-% SS, ___% Medicaid, ___% other Mandatory, and ___% Net Interest.
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20, 16, 20, 14, 25 ,6
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This mandates the president to submit an annual budget and created GAO.
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1921 Budget and Accounting Act
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Created House and Senate Budget Committees and CBO.
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1974 Congressional Budget and Impoundment Act
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____% of spending is _________ and ____% of spending is _______________.
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64% Mandatory, 36% discretionary
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Established goals to achieve a balanced budget and created Sequestration.
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1985 Balance Budget and Emergency Deficit Control Act
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Revised Sequestration, Created Discretionary Spending Limits and introduced Pay as You go.
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1987 balanced Budget and Emergency Deficit Control Reaffirmation Act
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This Established pay as you go for Entitlements and Mandatory and Discretionary Spending.
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1990 Budget Enforcement Act
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Established CFOs
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1990 Chief Financial Officers Act
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Established Discretionary Spending limits for 1994 - 1998 and outlined process for sequestration.
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1993 Omnibus Reconciliation Act
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Created Super Committee
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2011 Budget Control Act
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___________ is bought and paid for by a foreign country in support of US troops.
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Indirect Hire
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