Define and briefly explain the following terms

a) Contingency Appropriation

b) Covert Appropriaiton

c) Carryover of Appropriations

d) Supplementary Budget and Appropriations

 

Contingency Appropriation - is a term given to funds allocated in National Budget for the purpose of covering urgent / contingency /sudden expenditures . For example , fund created for damage caused by natural calamity which is uncertain

Covert Appropriation - It is a part of government budget which will be utilized for some secret operations of a nation . For example some secret military operations and security operations

Carryover of Appropriations - It the process of carrying forward the unutilised budgeted amount over to next fiscal period . This means that any agency will in addition to current years budgeted amount will also have the right to use previous periods budgeted carry forwarded amount as well.

Suplementary Budget and Appropriations - It is an expenditure which is sanctioned when the original budget seems to be insufficient to meet the actual expenditure due to the arising of unforeseen expenditure .