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Mod3 Comp1 Finance
Finance
45
Finance
Graduate
08/20/2011

Additional Finance Flashcards

 


 

Cards

Term
Necessary Expense Doctrine (3)
Definition
PURPOSE

1. Bear a logical Relationship to Appropriation

2. Must be legal

3. Not already provided for in other appropriation
Term
The sources of spending Restrictions
Definition
1. Authorization Acts

2. Appropriation Acts

3. CG Decisions
Term
Bona fide Need Rule (3)
Definition
TIME

1. Only obligate for what's needed within the fiscal year

2. Time between ordering and delivery should not be excessive

3. Don't order in the previous year what can be ordered in the next year.
Term
Severable Services
Definition
Gov receives something useful immediately up the expenditure of funds or by the end of the year.
Term
Can servable services cross fiscal years?
Definition
Yes, as long as it does not exceed 12mths
Term
Non-serverable services
Definition
Cannot be seperated into increments that provide something useful by the end of the FY.
Term
When does the government pay for non-serverable services?
Definition
Obligate the entire amount at the outset
Term
If the contract changes quantity, mission, time period it may amount to a ____.
Definition
new obligation
Term
Permissable Actions
Definition
Can contract under an appropriation act before the fiscal year, but no payments or expenditures maybe be made.
Term
Conditions that must be met for a contract to remain available beyond expiration (3)
Definition
1. Bona Fide need must still exist

2. Replacement contract must not exceed scope of original

3. Awarded within reasonable time after termination
Term
Name the 1 year appropriations
Definition
Milpers (military personnel)
O&M (operations and maintenance)
Term
Name the expense type appropriations
Definition
Milpers & O&M
Term
2 year approprations
Definition
RDT&E (research, development, testing & Eval)
Term
Procurement Appropriations
Definition
3 year appropriation
Investment type
Term
SCN
Definition
Navy Shipbuilding and Conversion
5year appropriation
Investment type
Term
MILCON
Definition
Military Construction
Investment type
5year appropriation
Term
When do no year appropriation close?
Definition
When the Head of the Agency decides that the purpose is fulfilled or no disbursements have been made in 2 consecutive fys.
Term
Budget Authority will remain on the books for how long?
Definition
5 years after the expired status
Term
Can expired funds be used?
Definition
Yes, for adjusting for undeliverables, but not for new obligations.
Term
What happens at the end of the fifth year after the expiration of the appropriated year?
Definition
All unliquidated obligations and expired budget authority are cancelled
Term
When must approval be sought from the agency head for expired appropriations.
Definition
if obligations for an expired appropriation exceed 4M for any program.
Term
When must Authorization and Appropriation committee approval be sought for an expired appropriation.
Definition
if an expired appropriation obligation exceeds $25M at the program level. (and Congress must be given 30 day notice)
Term
How can obligation and adjustments be paid once appropriation has been cancelled?
Definition
From an obligation that is available for the same purpose.
Term
Authority in appropriations acts and other provisions of law provided to incur new obligations.
Definition
Appropriations
Term
Specific statutory authority to incur obligations in anticipation or in advance of either receipts or an appropration of liquidating cash with which to pay the obligations.
Definition
Contract Authority
Term
Authority granted to a Federal entity to borrow and obligate and expend the borrowed funds.
Definition
Borrowing Authority
Term
An authorization for a government agency to issue monetary credits in lieu of checks to acquire property such as land or mineral rights.
Definition
Monetary Credits
Term
Including tax receipts, customs duties, fines, fees, penalties, reimbursements and revenue.
Definition
Offsetting Collections and Receipts
Term
An authoization for an agency to pledge to pay a part of all of the loan principal and interest to a lender in the event of default by a third party borrower. The family housing portion of the Military Construction appropriation provides the authority to DoD to guarantee loans to vendors/contractors building and/or rehabbing government quarters.
Definition
Loan and Loan Guarantee Authority
Term
Voluntary Services (3)
Definition
ANTI-DEFICIENCY ACT
1. If payment is discretionary, AND the pay can be set at zero then 1342 is not in violation.
2) A service offered clearly and distincly as gratuitous with a proper record of that fact does not violate.
3) if compensation for a position is fixed by law, then noone can agree to serve w/o compensation
Term
What does an agency do if it receives a gift from an outside source?
Definition
Deposits it into the Treasury. (DoD can accept gifts)
Term
Types of ADA penalties?
Definition
Administrative and Criminal
Term
The effects of an Admin ADA penalty
Definition
Suspension w/o pay or removal from office
Term
The penalties for Criminal ADA violations.
Definition
- $5,000 Fine

- 2 Years Jail

- Both
Term
Guidance for resolving conflic
Definition
1. Listen
2. Preserve self-respect & dignity
3. State your case
4. Expect to change your behavior
Term
Best solutions to conflict
Definition
- Seek a win-win solution
- Identify goals
- Refer to issues
- Breakdown issues
- Focus on main issues
- Role reversal for understanding
- Mutually beneficial solution
Term
When a rule is used inconsistently or unfairly to discriminate
Definition
Disparate treatment
Term
When a rule has a screening out effect
Definition
adverse impact
Term
protected classes
Definition
race, color, national origin, sex, religion, age, disability, or reprisal.
Term
EEO Complaint must be filed within how long?
Definition
45 days
Term
How long does an EEO counselor have to work the case?
Definition
30 days (can be extended for an additional 60 days)
Term
Training Process
Definition
1. Conduct a Training Needs Assessment
2. Select non-training & training strategies
3. Manage Training Delivery
4. Evaluate Training
3.
Term
Addressing and Correcting poor performance
Definition
1. Communicate expectations and performance problem.
2. Opportunity to improve
3. Take action
Term
Steps to communicating expectations and performance issue
Definition
1. What guidance has the employee received.
2. Review performance standards and fix if necessary
3. Have clear examples of poor performance
4. Counseling session
5. Take notes on time, date, and material covered
Term
Main requirements of the Federal Activities Inventory Reform Act of 1998
Definition
1. Requires a list of all commercial activities
2. Requires for the list to be submitted to Congress via the OMB and also made public
3. Competition is Required
4. Realistic and Fair Cost Comparison
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