Question

All unliquidated obligations and expired budget authority are cancelled at the of what year after the expiration of the appropriation year?

Answer 1

All unliquidated obligations and expired budget authority in the federal budget process are cancelled at the end of the fifth year after the appropriation year ends, involving procedures to prevent deficit spending.

Step-by-step explanation:

All unliquidated obligations and expired budget authority are cancelled at the end of the fifth year after the expiration of the appropriation year. In the context of the federal budget process, the fiscal year begins on October 1 and concludes on September 30 of the next year. If the President and Congress are unable to agree on a budget, a continuing resolution must be passed to prevent a government shutdown.

The federal budget entails complex procedures, including the consultation with the Office of Management and Budget (OMB), Congressional committees, and the potential enforcement of statutory control mechanisms such as the Budget Control Act (BCA) and PAYGO. These controls are important to prevent deficit spending and to manage the federal deficit effectively.