Module 3 Competency 1: Fiscal Law Flashcards
What does it mean when you can only do what the law authorizes?
Fiscal Law
What article and section of the constitution empowers congress to pass bills for raising revenue and delineates how bills will pas from Congress to the President for signature and veto?
Article 1, Section 7
What article, section, and clause of the constitution empowers congress to collect taxes?
Article 1, Section 8, Clause 1
What article, section, and clause of the constitution requires appropriation in law before money may be spent from the treasury?
Article 1, Section 9, Clause 1
What is the most authoritative source of information on the proper use of appropriated funds? It is also the primary source of law and comptroller rulings.
GAO Principles of Federal Appropriation Law (The Red Book)
Which act required the president to submit an annual budget to congress for all three branches of the Federal Government?
Budget and Accounting Act of 1921
Which act created the budget office for the president?
Budget and Accounting Act of 1921
What year did Bureau of Budget change to Office of Management and Budget
1970
What are the three constitution authorities to obligate and expend funds?
1) Article 1, Section 7
2) Article 1, Section 8, Clause 1
3) Article 1, Section 9, Clause 1
Which act established the General Accounting Office now Government Accountability Office (GAO)?
Budget and Accounting Act of 1921
Who is the head of the GAO?
Comptroller General
What act governs the congressional budget process?
Congressional Budget Act of 1974
What act developed rules regarding constraining spending and receipts legislations (including sequestration)?
Congressional Balanced Budget and Emergency Deficit Control Act of 1985
What act established House and Senate Budget Committees and the Congressional Budget Office (CBO)?
Congressional Budget Act of 1974
The Congressional Budget Act of 1974 is also known as which public laws?
PL 93-344 and PL 100-119
The Congressional Balanced Budget and Emergency Deficit Control Act of 1985 is also known as which public law?
PL 99-177
The Congressional Balanced Budget and Emergency Deficit Control Act of 1985 is also known as what?
Grumm-Rudman-Hollings-Act
What act defines key budget terms?
Congressional Budget Act of 1974
What act significantly amended the Congressional Balanced Budget and Emergency Deficit Control Act of 1985?
Budget Enforcement Act
What US Codes provides guidance on rules and regulations for budget execution?
31 USC 13 and 15
What regulation provides instruction on budget execution and GAO Federal Appropriations Law?
OMB Circular A-11
The overarching statutory requirements for use, control, and accountability of funds are found where?
31 USC 13 and 15 Rules and Regulations for Budget Execution
Which section of revised statues is also known as the Anti-Deficiency Act?
Section 3679
Which act is constrained in the same act of the Congressional Budget Act and prescribes rules and regulations under which the president may withhold appropriation amounts from being obligated (deferrals and recessions)?
Budget Impoundment Control Act of 1974