Term
| When an agency exceeds an allotment they violate what USC? |
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Definition
| 31 USC 1517, The Anti Deficiency Act |
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Term
| Where to deposit funds received on the governments behalf? |
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Definition
| Miscellaneous Receipts of the Treasury. |
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Term
| The Basic Axiom of Fiscal Law |
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Definition
| The Expenditure of public funds is only proper when authorized by Congress, not that public funds may be expended unless prohibited by Congress. |
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Term
| In most cases, this is a form of budget authority that permits federal agencies to incur obligations and make payments out of the Treasury for specific purposes. |
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Definition
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| The most common means of providing budget authority. |
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Term
| Sets up or continues the legal operation of a federal program or agency. |
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Definition
| authorization legislation |
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| The authority provided by Federal law to incur financial obligations. |
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Definition
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Term
| Budget Authority maybe be classified in these 4 ways. |
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Definition
| Period of availability, nature of authority (current or permanent), amounts available (definite or indefinite), gross or net |
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Term
| The system that measures and controls the use of resources according to the purposes for which budget authority was enacted. |
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Definition
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Term
| The forms of authority given to an agency allowing it to incur obligations. |
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Definition
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Term
| An existing condition involving uncertainty as to possible gain or loss to an entity that will be resolved in the future. |
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Definition
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Term
| four types of Budgetary Resources |
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Definition
| New budget authority, unobligated balances, direct spending authority, offsetting collections. |
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Term
| Provides budget authority in cases where the regular fiscal year appropriation has not been enacted by the beginning of the fiscal year. |
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Definition
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Term
| This usually specifies a maximum rate at which an agency may incur obligations, based on the rate of the prior year, the President's budget request, or an appropriation bill passed by Congress. |
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Definition
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Term
| Permits agencies to obligate funds in advance of appropriations. |
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Definition
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Term
| The dollar amount of appropriations used to fund goods and services received or benefits or grants provided. |
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Definition
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Term
| This is recorded on the books at the time the goods or services are received, whether or not the agency has paid for the goods or services. |
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Definition
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Term
| Outlflows or other using up of assets or incurrences of liabilities, the benefits from which do not extend beyond the present operation period. |
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Definition
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Term
| An appropriation account that can no longer incur new obligations because the time availablefor incurring such obligations has expired. |
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Definition
| Expired Appropriation Account |
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Term
| The net amount of obligations in a given account for which payment has not yet been made. |
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Term
| Amounts of orders placed, contracts award, services received, and similar transactions during an accounting period that will require payment during the same, or a future, period. |
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Definition
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Term
| Such amounts include payments for wich obligations previously have not been recorded, and adjustments for differences bewteen obligations previously recorded and actual payments to liquidate those obligations. |
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Definition
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Term
| The amount of this incurred is segregated into undelivered orders and accrued expenditures - paid or unpaid |
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Definition
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Term
| Collections from the public that result from business-type or market-oriented activities and collections from other goverment accounts. |
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Definition
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Term
| These are deducted from gross disbursement in calculating outlays, rather than counted in gov receipts. |
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Definition
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Term
| Are credited directly to appropriation or fund accounts. |
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Definition
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Term
| Are credited directly to receipt accounts. |
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Definition
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Term
| The issuance of checks, disbursement of cash, or electronic transfer of funds made to liquidate a federal obligation. |
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Definition
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Term
| Also occurs when interest on the Treasury debt held by the public accrues and when the gov issues bonds, notes, debentures, monetary credits, or other cash-equivalent instruments in order to liquidate obligations. |
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Definition
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Term
| Also, under credit reform, the credit subsidy cost is recorded as this when a direct or guaranteed loan is disbursed. |
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Definition
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Term
| A tabulation, calculation, or recording of activity or effort that can be expressed in a quantitative or qualitative manner. |
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Definition
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Term
| Each of these shall have two key characteristics: 1) each shall be systematically or periodically captured through an accounting aor management information system, and 2) there shall be a logical connection between the reported measures and the program's purpose. |
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Definition
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Term
| Attempts to show actual financial position and results of operations by accounting for assets, liabilities, net position, revenues, and expenses. |
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Definition
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| Also known as financial accounting, a process that supports acrual accounting and financial reporting. |
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| Established to finance a cycle of operations through amounts received by the fund. |
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Term
| Within DoD, such funds include the Defense Working Capital Fund, as well as other working capital funds. |
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Term
| A fund consisting of a permanent appropriation and expenditures of collections, from both the public and other goverment agencies and accounts that are earmarked to finance a continuing cycle of business type operations. |
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| The reduction or cancellation of new budget authority. |
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| A particular kind of external even involving the transfer of something of value concerning two or more entities. |
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Term
| Either a two way or one way flow of resources or of promises to provide resources. |
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Definition
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Term
| Establishes the amount of monies authorized to be withdrawn from the cenral account that the Treasury maintains. |
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Term
| An official document that the Secretary of the Treasury issues pursuant to law. |
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Definition
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Term
| Currently unavailable special and trust fund receipts are issued this when requirements for their availability have been met. |
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Term
| Accounts are designated by law as these, such as the one for Social Security |
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Term
| Balances of budgetary resources that have not yet been obligated. |
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Definition
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Term
| These expire (cease to be available for obligation) |
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Definition
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Term
| FMFIA Requirements __ to establish guidelines for executive agencies to aply in evaluation their systems of internal counting and administrative control. |
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Definition
| Director of the Office of Management and Budget. |
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Term
| FMFIA Requires _ to evaluate internal accounting and administrative control annually and submit report to Congress and the President. The reports, excluding classified information, are to be available to the public. |
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Definition
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Term
| FMFIA also requires that material weaknesses be identified, tracked, and corred by __. |
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