Legislative Branch

Expiring money

It seems rediculous that money is tagged with a lifespan. Frequently, when a contractor is efficient and less money is used than estimated it is impossible to move the money on to another contract because it is "old", more than 2-years and thus that money is lost or used up on less important needs because it would otherwise be lost. The system was set up for old style purchasing agents. However current needs related to developing new systems, models, and basic research (specially biological research) frequently takes more time and costs are less predictable. To avoid expiring money staff spends excessive time monitoring the age of the money and moving it around to keep it from being lost or keeping it fresh. It would save tremendous time and resources not to mention money if once money were allocated, regardless of fiscal year, that money could be used until it was spent. In addition those funds should be part of the balance sheet at the beginning of each budget cycle when estimating how much a Department or Agency needs for the coming fiscal year. This would result in improved money management, cost accounting, and long term saving of taxpayer funds.

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Idea No. 15130