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Q: What happens to the money the federal goverment does not use? ( No Answer,   5 Comments )
Question  
Subject: What happens to the money the federal goverment does not use?
Category: Relationships and Society > Government
Asked by: lx1978-ga
List Price: $10.00
Posted: 22 Aug 2005 13:50 PDT
Expires: 23 Aug 2005 13:41 PDT
Question ID: 558853
2 part question...

I work for the Military as a Comptroller so one would think that I
would know this answer, but I don't.  Nor does anyone that I have
asked, so hopefully some one out there can.

1.)  I am trying to find out what happens to the reverted balance of
federal funds after the fiscal year expires.  On September 30, 2005 my
unit will have a reverted balance from Fiscal Year 2000 (the fiscal
year that will be closed) of $4,359,304.33.  What happens to that
money?  What can that money be used towards?  (paying down the federal
reserve?)

2.) Where can I find something on the reverted balance of the entire
federal goverment and how much it was?

Clarification of Question by lx1978-ga on 22 Aug 2005 15:09 PDT
Does any one have a reference that shows exactly where the money goes.
Answer  
There is no answer at this time.

Comments  
Subject: Re: What happens to the money the federal goverment does not use?
From: shockandawe-ga on 22 Aug 2005 14:22 PDT
 
I believe it goes to the surplus fund of the treasury's general account.
After that its "colorless", and does treasury stuff - like go towards
the national debt.
Subject: Re: What happens to the money the federal goverment does not use?
From: lx1978-ga on 22 Aug 2005 15:07 PDT
 
Thanks for the response but I want to know factual.  There has to be
something in writing somewhere that says that.
Subject: Re: What happens to the money the federal goverment does not use?
From: shockandawe-ga on 23 Aug 2005 07:17 PDT
 
By law it gets collected back to the treasury "miscellaneous receipts" 

http://thomas.loc.gov/cgi-bin/query/z?c101:H.R.5645.EH:
Subject: Re: What happens to the money the federal goverment does not use?
From: lx1978-ga on 23 Aug 2005 10:58 PDT
 
Thanks, that looks like what I am looking for.  Last question how do I
process this to pay you?

Elex
Subject: Re: What happens to the money the federal goverment does not use?
From: shockandawe-ga on 23 Aug 2005 11:22 PDT
 
I'm a volunteer.
Don't pay anybody unless they dig up your second answer which was to
find out how much the entire reverted balance of the government was.

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