The Appropriation to the State Library System Fiscal Year Starts

question 8

Multiple Choice

The appropriation to the State Library System fiscal year starts July 1) for fiscal 2012 was $15,000,000. On December 31, 2011, its budget reports showed expenditures of $7,500,000 and encumbrances outstanding of $500,000. Quarterly allotments were as follows: Q1-$3,750,000; Q2-$4,500,000; Q3-$3,750,000; and Q4-$3,000,000. What was the status of system operations at that point?

• A) Operation consistent with plan; half the year elapsed and half the money spent.
• B) Over plan by $250,000.
• C) Under plan by $250,000.
• D) Under plan by $750,000.

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Definitions:

AFL

The American Federation of Labor, a national federation of labor unions in the United States founded in 1886, representing workers in various industries.

Emergency Banking Relief Bill

A 1933 act passed in the United States during the Great Depression to restore investor confidence and stabilize the banking system by putting federally guaranteed banks under the control of the Treasury.

Unanimous House Vote

A vote in which all present members of a legislative house, such as the House of Representatives, agree on a particular decision or piece of legislation.

Policy of Appeasement

A diplomatic strategy aimed at avoiding conflict by making concessions to an aggressive country or leader.