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The B.F.E.* * Base Flood ElevationVolume 5OKLAHOMA FLOODPLAIN MANAGERS ASSOCIATION NEWSLETTER January/February 2003Number 2Federal Budget UpdateTransfer of Flood Mitigation Assistance Funds for DHS
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Federal budget update transfer is the reallocation of funds within the federal budget to reflect changes in spending priorities or unexpected costs.
Government agencies and departments responsible for managing the federal budget are required to file federal budget update transfers.
To fill out a federal budget update transfer, a government agency must submit a request detailing the proposed reallocation of funds and provide justification for the transfer.
The purpose of federal budget update transfers is to ensure that government funds are being spent efficiently and in accordance with legislative priorities.
The information reported on a federal budget update transfer includes the amount of funds being transferred, the reason for the transfer, and any impact the transfer may have on programs or projects.
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