Post Views: 13,104 The Government Accounting Manual (GAM) for National Government Agencies defines obligation as: Obligation is an act of a duly authorized official which binds the government to the immediate or eventual payment of a sum of money. Obligation maybe referred to as a commitment that encompasses possible future liabilities based on current contractual […]
This easy to understand guide answers the following questions:
– What is Honoraria?
– Who can be paid honoraria and for what condition?
– What constitutes “successfully completed procurement projects”?
– Is the payment of honoraria applicable to all kinds of procurement projects?
– Are all government personnel involved in government procurement entitled to honoraria?
– Whose personnel who are involved in government procurement are not entitled to honoraria?
– Where to get funds for the payment of honoraria i.e., funding source?
– What’s the definition of savings as far as the grant of honoraria for personnel involved in government procurement is concerned?
Read the rules and regulations.
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Read 10 easy ways to avoid receiving AOM from COA.
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Commit these mistakes often and you lose reliability.
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Simply explained, you incur obligations when the pizza is served or delivered to you while disbursements happen when you pay for the pizza.
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If appropriation is a whole pizza, allotment represents a slice of the pizza.
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Understand and prepare your BFARs more effectively.
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The No. 1 tip is actually enough, all the others are given procedures.
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Know that time is finite and your work is unlimited. Limit your time in the Office and spend more time with your family and love ones. You’ll see, you’ll be happier and more fulfilled.
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