CDFM Module 1 Questions and Answers 100% Pass

CDFM Module 1 Questions and Answers 100% Pass Genesis of US federal process can be traced to these events Declaration of independence, Articles of Confederation, Constitution ratified by 9 states, constitution took effect. What did amendment to articles of confederation require? Unanimous approval of all the states Essential principle of constitution? Everything you do must be legal in purpose, time and amount. What are the first 10 amendments to the consitution called? Bill of rights What does Article 1, Section 8 of the Constitution state? Congress shall have the authority to make all laws which shall be necessary and proper for carrying into execution. What does the preamble to the constitution of the US begin with and how do we exercise its sentiment? We the people, through elections. What constitutional amendment is known as states rights? Amendment 10 First required president to submit annual budget proposal to congress AND established OMB/GAO? 1921 Budget and Accounting Act What act shifted congress to focus on overall budgt totals, created new budget committees in each house and shifted the fiscal year from July to October? 1974 Congressional Budget and Impoundment Control Act What prohibts the president from witholding funds without sufficient reason? Impoundment Control Act of 1974 Used for matters affecting the operations of BOTH! the house and the senate, does not go to president for signature? Concurrent resolution (1) Established deficit reduction goals aimed at a balanced budget in FY Balanced Budget and Emergency Deficit Control Act What act divided spending into mandatory and discretionary; also established pay as you go entitlement? 1990 Budget Enforcement Act (1) Changed way budgets are to be justified and managed (2) focused budget process on planning (3) required agencies to submit strategic plans by September 30 (4) required annual performance plans 1993 Government Performance and Results Act Annual performance plan requires OMB to establish federal priority goals and agencies to establish priority goals. 2010 GPRA Modernization Act (1) Put in place 3 phased process to increase debt ceiling (2) Mandated a vote on constitutional Balanced Budget amendment 2011 Budget Control Act Used for matters affecting the operations of EITHER! the house and the senate, does not go to president for signature? Simple resolution What are the three phases of the budget cycle? Budget formulation, Congressional action, Budget Execution What Act states the president must submit to congress his proposed budget for the next fiscal year by the first monday in february? 1974 Congressional Budget Act What is it called when OMB reviews an agencies budget returns it to the agency with or without funding changes? This can be appealed to the president by the agency head? Passback Defined in OMB Circular A-11 as the lowest level of budgetary formulation? Object class How many appropriations acts are there? 12 What are the three steps in the Budget Enactment process? Budget Resolution Process, Authorization Process, Appropriations Process What happens during Budget Resolution Process? OMB and Secretary of the Treasury appear before the house budget committee and senate budget committee to explain basis for budget proposals. Ends with a concurrent budget resolution. What do HASC and SASC primarily do for the DOD? Authorizations process What do the HAC and SAC primarily do for the entire federal government? Appropriations process What organization conducts score keeping for congress during budget resultion phase? Congressional budget office High level overall budget plan passed by the house and senate for the federal government, by law to be completed by april 15th, does not require presidents signature Concurrent budget resolution Is the NDAA a bill? yes it is a bill How do agencies request apportionment from OMB after the appropriations bill is passed? SF 132 Quartly reports of expenditures from agencies to OMB using what form? SF 133 What is the hierarchy of laws managing funds? 31 USC 1514, OMB Circular A-123, DOD FMR Volume 14 What is the order of government financial activity? 1. Congress appropriates 2. OMB apportions 3. Agency allots, commits, obligates, outlays Establishes the DOD policy and procedures of administrative controls? DOD FMR 7000.14R What authority allows you to make payments in advance of an appropriations act? Entitlement authority (examples include social security, Medicare and unemployment) Financial control document issues pursuant to law and is normally for the funding stated in an appropriation bill? Appropriations warrant The budget formulation process is governed by? OMB Circular A-11 Establishes the format for the budget and guidance for submitting budget estimates? OMB Circular A-11 Contains a section on reporting on employment and personnel compensation. Rules for calculating FTEs can be found here? OMB Circular A-11 What requires individual federal managers to develop internal controls for results oriented maangement? OMB Circular A-123 What is a request in addition to amounts already appropriated? Supplemental requests What happens after the president signs the appropriations bill? Budget execution begins, appropriations warrant submitted to treasury. What is the guidance document for the Budget execution phase? OMB A-11 How is a bill number 100 in the senate and the house written? S.100 and H.R.100 If congress doesn't notify the president within ____ days to release funds, the funds may be deferred. 45 days What form is used by certain senior officials and employees to disclose financial interests to the executive branch? SF 278 What form is used by less senior officials whos duties involve contracting, procurement, grants, auditing, to file confidencial financial disclosure reports? OGE form 450 What are some inherently government activities? Monetary transactions, entitlements, criminal investigations, combat support, prosecutions. How can you deal with conflicts of interests? 1. Recusal 2. Waivers 3. Certificate of divestiture 4. Trusts