What appropriation life cycle periods are available for adjustments expenditures and outlays?
Each appropriation category has three distinct periods during its lifecycle: current period, expired period, and cancelled period.
What is the name of the law that prohibits an obligation in excess of the appropriated amount?
The Antideficiency Act
The Antideficiency Act prohibits federal employees from: making or authorizing an expenditure from, or creating or authorizing an obligation under, any appropriation or fund in excess of the amount available in the appropriation or fund unless authorized by law.
When do closed appropriations become no longer available?
Expired funds retain their “fiscal year identity” for five years after the end of the period of availability for new obligations. During this time, the funds are available to adjust existing obligations or to liquidate prior valid obligations. Closed Appropriations are no longer available for any purpose.
How long does an Appropriations Act stay in effect?
Appropriations Acts specify the time period for availability for new obligations. Differences in time periods reflect Congressional understanding of various timeframes to accomplish work. Expired funds retain their “fiscal year identity” for five years after the end of the period of availability for new obligations.
When does an agency have to pay an appropriation?
By law, 31 U.S.C. 1551-1557, appropriations are available for limited periods. An agency must incur a legal obligation to pay money within an appropriation’s period of availability.
How are appropriations used to execute a program?
To execute an acquisition program, the budget authority provided by Congress is needed in order to incur obligations and make payments. Appropriations shall be applied only to the objects for which the appropriations were made except as otherwise provided by law. By law, 31 U.S.C. 1551-1557, appropriations are available for limited periods.