Which of the following are exceptions to the full funding policy?
Which of the following exceptions to the full funding policy would allow the Government to budget for buying three years worth of engines under one contract in order to save money? Multiyear Procurement.
Which two of the following appropriation categories are associated with the full funding policy?
O&M and MILPERS appropriations; the incremental funding policy applies to RDT&E appropriations; the full funding policy applies to procurement and MILCON appropriations.
Can you incrementally fund non severable services?
Whether a contract is for severable or nonseverable services affects how the agency may fund the contract; severable services contracts may be incrementally funded, while nonseverable services contracts must be fully funded at the time of the award of the contract.
What is the full funding policy?
The full funding policy is a federal budgeting rule imposed on the Department of Defense (DOD) by Congress in the 1950s that requires the entire procurement cost of a weapon or piece of military equipment to be funded in the year in which the item is procured.
Can I incrementally fund a FFP contract?
Worse, most contract writing systems will not support an incrementally funded FFP contract. The checks and balances may force you to describe the FFP as the funded amount. Most will not allow partial billing.
Can O&M funds across fiscal years?
Yes, Comptroller General Decisions B-233243, B-213141- O.M., and B-321296 determined that agencies may use current fiscal year’s funds to pay for training in the next fiscal year, if the training is deemed a bona fide need.
Can you incrementally fund a time and materials contract?
Yes, you may incrementally fund a T & M contract as long as your agency policy allows for incrementally funding. You need to make sure you have a bona fide need and funds are available for each increment. Unless an agency prohibits incremental funding you may use incremental funding for any contract type.
What is a funding gap?
A term sometimes applied to a period when federal agencies lack authority to obligate or spend funds because their appropriations for that period have not been enacted. Spending gaps occur most frequently at the beginning of a fiscal year, but agencies occasionally run out of money later in the year.
Can you incrementally fund a labor hour contract?
(c) Incremental funding for a fixed-price, Time and Materials or Labor Hour contract or order may be limited to an individual line item(s) or a particular order(s) and may be applied to commercial or non-commercial items, severable or non-severable service, or to supplies.