Expired Account

Expired Account in the United States

Expired Account in the Federal Budget Process

Meaning of Expired Account in the congressional and executive budget processes (GAO source): An account within the Department of the Treasury to hold expired budget authority. The expired budget authority retains its fiscal year (or multiyear) identity for an additional 5 fiscal years. After the 5-year period has elapsed, all obligated and unobligated balances are canceled, the expired account is closed, and all remaining funds are returned to the general fund of the Treasury and are thereafter no longer available for any purpose. (See Expired Budget Authority under Availability for New Obligations under Budget Authority.)

Resources

See Also

Further Reading

  • Legislatures and the budget process: the myth of fiscal control

    (J Wehner, 2010)

  • Reconcilable Differences?: Congress, the Budget Process, and the Deficit (JB Gilmour, 1990)
  • Fiscal institutions and fiscal performance

    (JM Poterba, J von Hagen, 2008)


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