Shared Flashcard Set

Details

Dates
Dates and deadlines for Budgeting
25
Finance
Graduate
08/20/2011

Additional Finance Flashcards

 


 

Cards

Term
Constitution took effect
Definition
March 4th 1789
Term
Constitution Ratified by Nine States
Definition
June 1788
Term
Articles of Confederation Ratified
Definition
1781
Term
Declaration of Independence
Definition
July 4, 1779
Term
The 17th Amendment, ratified in this year, provided for Senators to be elected by the people of the state rather than being appointed by the Legislature of the state.
Definition
1913
Term
The budget forumlation phase starts as early as ___ prior to the fiscal year.
Definition
21 months
Term
the number of planning levels OMB issues when it issues guidcance guidance
Definition
5 years
Term
Budget year begins
Definition
1 October
Term
Fiscal Year ends
Definition
September 30
Term
Senate Budget Committees must report concurrent resolution to their respective Houses.
Definition
April 1
Term
Congress adopts a Concurrent Budget Resolution.
Definition
April 15
Term
House debates and passes appropriation bills with or without amendments.
Definition
June 30
Term
Congress Receives mid-year Presidential update of the budget estimates.
Definition
July 15
Term
House Appropiation Committee reports regular appropriation bills.
Definition
June 10
Term
If appropriation action is not completed by this date, or if Congress does not override a Presidential veto, then the affected programs may be covered in a continuing resolution.
Definition
September 30
Term
By this date, the House and Senate Budget Committees should receive reports from all other congressional committees on their respective views and estimates of the appropriate level of 1) Total Outlays 2) Total New Budget Authority 3) Public Debt 4) Surplus or Deficit 5) Federal Revenues
Definition
March 15
Term
After an appropriation is made into law the Dept of Treasury issues Appropriation Warrants when?
Definition
ASAP
Term
OSD/OMB must negotiate apportionments via SF-132 within how long of the issuance of an appropriation act?
Definition
10 days
Term
OSD allots to military departments after apportionment when?
Definition
ASAP
Term
OSD monitors/reports financial activity and assesses performance against objectives. (this is also on-going)
Definition
Quarterly
Term
OMB has how long after the appropriations act providing new budget authority to effect apportionment?
Definition
30 days
Term
Comprehensive reviews of all performance indicators are conducted throughout DoD and programs are adjusted as required.
Definition
Mid-Year
Term
Programs are adjusted to meet emerging conditions.
Definition
On-going
Term
OSD through Services completes Year-End Closeout.
Definition
End of FY
Term
If both houses of Congress do not complete action on a recission proposed by the OMB or President within this period after its receipt, the funds must be made available for obligation.
Definition
45 days
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