allowable expenses, accounting homework help
;Are the following allowable expenses (please list Yes or No clearly – such as, “Yes, this is allowable, because___)? ; Why or why not? ;
a) ; ;An agency decides to award a vendor $1,000,000 to perform accounting services on a one-year appropriation. ; The appropriation is for Fiscal year 2014. ; The award is made on October 2, 2014. ; The appropriation allows using the funds for accounting services.
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b) ;For a no-year appropriation, could the agency start a new obligation starting on October 24, 2015? ; The obligation would be for goods/services that would be a use listed in the appropriation, and would be above the amount remaining on the appropriation.
c) ;An agency has a multi-year appropriation, from Beg. Budget Fiscal Years 2012-Budget Year 2014. ; The agency awarded a vendor a contractor on October 1, 2013 for an item listed in the appropriation. The vendor identified an invoice for work performed in November 2013, and requested payment on January 5, 2015. ; Is the payment allowable?