Deployment Fiscal Law Flashcards
Block 4
What are the five main defense appropriations?
Military Personnel, Operations and Maintenance, Procurement, Research, Development, Test, and Evaluation (RDT&E); and Military Construction (MILCON).
How long are appropriations available for?
Definite time (one-year) / (fiscal year)
How should funds be used?
Ensure funds fall within one of the five main defense appropriations and applied accordingly. (good purpose).
What are the two sources used to fund contruction projects?
MILCON; O&M
When should specified funds be used?
Any project that exceeds $6 million in cost
When should O&M funds be used?
Project that is $2 million or less
What act governs the use of funds?
ADA (Anti-Deficiency Act)
What entity authorizes and appropriates funds?
Congress
Three types of contracting and procurement fraud schemes?
Product substitution, defective pricing, and cost mischarging.
What are the four main types of contacts?
Firm Fixed, Requirements, Indefinite Quantity, and Time and Materials.
What is a Firm Fixed contact?
Primary type of contract and contractor has risk of additional cost.
What is a Requirements contract?
Minimum and maximum order amount are established. Contractor not obligated to orders beyond maximum.
What is Indefinite Quantity?
Indefinite quantity of supplies to be furnished within a fixed period, deliveries are scheduled by placing orders.
What is Time and Materials?
Used on the basis of direct labor, includes wages, overhead, and profit.
