Borrowing Authority
3 definitions

Borrowing Authority

Borrowing Authority. Budget authority enacted to permit an agency to borrow money and then to obligate against amounts borrowed. It may be definite or indefinite in nature. Usually the funds are borrowed from the Treasury, but in a few cases agencies borrow directly from the public. 

Borrowing Authority

Statutory authority to incur obligations and to make payments for specified purposes out of borrowed money. Within DoD, borrowing authority is used for mortgage assumptions under the Homeowners Assistance Program and for loans from the Federal Financing Bank.

Borrowing Authority

Statutory authority, not necessarily provided through the appropriations process, that permits Federal agencies to incur obligations and make payments from borrowed moneys.

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About this term

Borrowing Authority has been defined 3 different ways in documents like A Glossary of Terms Used in the Federal Budget Process, DoD Financial Management Regulation Glossary, The United States Budget in Brief: Fiscal Year 1978.

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