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The bona fide needs rule is a principle in government procurement that stipulates agencies may only use appropriated funds for goods and services that meet their actual needs within the fiscal year for which the funds were allocated. This rule ensures that federal agencies do not use funds for future needs or purposes beyond the current budget period, promoting fiscal responsibility and efficient use of taxpayer dollars. Essentially, it requires that purchases align with the immediate operational requirements of the agency.
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What does the bona fide needs rule statute mean?
The Bona Fide Needs Rule is a guiding principle in federal spending. It states that Congress may only spend money if there is a bona fide, or legitimate, need that needs to be met.
How do you put bona fide in a kid sentence?
That's a bona fide diamond! bona fide means authentic, real.
What is Latin for In good faith?
Bona fide or in bona fide if you want to emphasize.
How can bona fide be used in a sentence?
Badges will only be sold to bona fide law enforcement officers presenting valid ID cards from issuing agency!
Give me a sentence using the latin word bona fide?
Bona fide can mean: 1. real or genuine: It was a bona fide example of his hand writing or 2.undertaken in good faith: He made a bona fide offer to buy the house.
Can you give me a sentence with the word bona fide?
Clint Eastwood is a bona fide movie star.
What is a good sentence using bona fide?
A bona fide offer was made to purchase the company.
What type of funds are subject to the bona fide needs rule and can be used for new obligations?
Current
How do you spell bonified?
The adjective term is spelled "bona fide" (legitimate, genuine) from the Latin bona fide, meaning good faith).
When was Bona Fide - Wishbone Ash album - created?
Bona Fide - Wishbone Ash album - was created on 2002-05-21.
What does the word Bonafide mean?
Bona fide is a Latin term for 'good faith'. It is used to describe something that is genuine. Generally it is associated with: An offer (a bona fide offer to do business etc). An object that gains status from being produced by somebody famous or in a certain era (a bona fide Picasso or a bona fide Edwardian Cabinet). A profession (He is a bona fide helicopter pilot).
What is an internal control practice to access whether commitments and obligations are bona fide needs of the appropriations charged?
TAR
