What is an obligation plan?
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Then, what does obligated amount mean?
Obligated amounts are the funds authorized by the sponsor for a particular period of time. Those funds are then allocated by OSP and SPA to account(s) in GMAS for spending purposes. Depending on how the project is set up the obligated amount may be allocated across multiple accounts.
Also, what is a spend plan? A spending plan is a simple strategy for making the most of your money and reaching your financial goals. On a simple, one-page form you write down the money you have coming in and what you spend in an average month.
Considering this, what are obligated funds?
An obligation of funds is a legal liability to disburse funds immediately or at a later date as a result of a series of actions.
What is obligation authority?
obligation authority. Administrative body that has the power to authorize procurement of goods and services and to make payments for them.