CDFM Exam1 with Complete Solutions

DoD FMR 7000.14R - ANSWER Only the Secretary will provide the department's position on appeal items Continuing Resolution - ANSWER A joint res signed by the President temporary appropriations act 31 USC 1514 - Management of Funds - ANSWER restrict obligations or expenditures from each approp. to their amount of apportionment or reapportionment Enable agency head to fix responsibility for an obligation or expenditure exceeding apportionment Expenditure - ANSWER occurs when a check is issued or funds are transferred electronically in response to an invoice Outlay - ANSWER payment to liquidate an obligation funds moved from the Treasury Budget Authority - ANSWER permission to obligate funds or withdraw funds from the Treasury provided in appropriations acts Contract Authority - ANSWER authority to incur obligations in anticipation of either receipts or an appropriation of liquidating cash to pay obligations 1921 Budget and Accounting Act - ANSWER Established OMB and GAO President submits annual budget to Congress 1990 Budget Enforcement Act - ANSWER divided spending into discretionary and mandatory 1990 CFO Act - ANSWER Established CFOs in specific agencies and cabinets to oversee FM and IS 1993 Government Performance and Results Act (GPRA) - ANSWER requires strategic plans and Annual Performance Plans 2010 GPRA Modernization Act - ANSWER Annual Performance Plan requires OMB and agencies to prioritize goals Agency Performance Reports (APR) required annually (5 year performance trend), priority goals required quarterly Guidelines for Programming Manpower - ANSWER 1st priority: major combatant commands based on JCS remaining forces support combat forces civilians indigenous personnel used to the max Title 5 - ANSWER Civilians Title 10 - ANSWER Active and Reserve Title 32 - ANSWER National Guard Title 10 USC 12304 - ANSWER Pres can activate Reserve for NMT 365 days 200k SR and IRR, NMT 30k IRR VSIP and VERA - ANSWER NMT 25,000 buyouts per year (does not include non-appropriated fund employees subject to Base Realignment and Closure) Buyout payments are the lesser of $40k or the employee's severance pay (repaid if rejoin within 5 years) A-76 - ANSWER Contracts vs IGA Internal Control Objective and Risk Categories - ANSWER Operations Reporting Compliance Federal leaders/managers are responsible for - ANSWER Operations Reporting Compliance Achieving Risks