How many forms of Budget Authority are there?

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Study for the Certified Defense Financial Manager (CDFM) Exam 1. Engage with flashcards and multiple choice questions, with hints and explanations for each query. Prepare confidently for your exam!

Multiple Choice

How many forms of Budget Authority are there?

Explanation:
Budget authority comes in several forms that authorize agencies to incur obligations and pay for programs. The recognized forms are: appropriations; contract authority; borrowing authority; mandatory spending authority created by statute (entitlements and other mandatory programs); permanent or indefinite budget authority; and offsetting collections or offsetting receipts that fund programs by revenues. Counting these distinct mechanisms gives six forms of budget authority.

Budget authority comes in several forms that authorize agencies to incur obligations and pay for programs. The recognized forms are: appropriations; contract authority; borrowing authority; mandatory spending authority created by statute (entitlements and other mandatory programs); permanent or indefinite budget authority; and offsetting collections or offsetting receipts that fund programs by revenues. Counting these distinct mechanisms gives six forms of budget authority.

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