Common use of Balances available Clause in Contracts

Balances available. (a) The balance of an appropriation or fund limited for obligation to a definite period is available only for payment of expenses properly incurred during the period of availability or to complete contracts properly made within that period of availability and obligated consistent with section 1501 of this title. However, the ap- propriation or fund is not available for expendi- ture for a period beyond the period otherwise authorized by law.