USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶14.1 — Introduction
USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶14.1 — Introduction.
Verbatim regulatory text
Verbatim provisions from USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶14.1 — Introduction — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶14.1 — Introduction
14.1 INTRODUCTION Congress appropriates program funds to the Agency for loan guarantees for each fiscal year (FY) basis (October 1 through September 30). If Congress has not approved appropriated funds at the beginning of a fiscal year, the program may continue to be authorized and delivered under a Continuing Resolution until appropriated funds for the fiscal year are approved by Congress. While the Agency operates under a Continuing Resolution, the Budget Office receives funds that are allotted to the program according to the duration of the Continuing Resolution. Throughout this period, funds are allotted based on a percentage of the total days for which the Continuing Resolution remains in effect. The denominator used in this calculation can be either the amount of funds obligated in the previous year or the program level authorized in the Continuing Resolution. This chapter describes the funding priority process and Agency actions when funds are limited. It also outlines the Agency procedure to request funds from the National Office reserve.