Unit 4a: Resourcing and Budgeting

The fiscal year ends on 30 September and starts again on:

31 September

1 October

31 October

1 January

Which group is comprised of senior-level Wing leadership that produces Wing funding priorities and budgeting?

Financial Management Board

Financial Working Group

Resource Advisor

Which group is chaired by the Wing Comptroller and meets monthly to discuss Spend and Execution Plans?

Financial Management Board

Financial Working Group

Resource Advisor

Which plan projects the rate at which money will be obligated over the course of a fiscal year?

Spend Plan

Execution Plan

What is money set aside or reserved for a specific requirement?

Commitment

Obligation

Spend Plan

Execution Plan

What is used to purchase items below a specific threshold and allows the unit to bypass the Comptroller?

Spend Plan

Execution Plan

Government Travel Card

Government Purchase Card

What is an amount of money that the government is legally bound to pay as part of a contract or GPC purchase?

Commitment

Obligation

Both

What determines how money can be spent and how much of it can be spent?

Appropriation Codes

UTC codes

Spending Codes

Finance Codes

If Congress cannot decide on a budget, what allows us to keep operating by allocating funds based off of last fiscal year's budget?

DoD Budget Plan

Unfunded Requirements (UFR)

Continuing Resolution Authority (CRA)

Program Objective Memorandum (POM)

What happens at the end of the fiscal year to ensure all transactions have been successfully processed?

Fiscal Year Close-out

Obligation

Appropriation

Unfunded Requirements

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Unit 4a: Resourcing and Budgeting

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