The 9th FMCO reconciled and audited more than 15,000 contracting files, cleared more than 2,000 lines out of the database used to manage contracts, and reconciled more than 800 unliquidated obligations.
What does ULO stand for?
ULO stands for Unliquidated Obligation
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of ULO
We have 7 other meanings of ULO in our Acronym Attic
- Upper Limit of Normal Range
- University League Nursery School (Princeton, NJ)
- Upper Limb Neural Tension Test
- Uitgebreid Lager Onderwijs
- Ultra Low Oxygen (cold storage)
- Umbrella Learning Object
- Unidentified Lunar Objects
- Unified Land Operations (US Army)
- University Liaison Officer (various organizations)
- University of London Observatory
- Unmanned Launch Operations (US NASA)
- Upland Los Olivos (Upland, CA)
- Used Lube Oil
- User Led Organisation (UK)
- User Logical Outputs (programming)
- Universal Law of Attraction
- Unpaid Leave of Absence
- United Lesbians of African Heritage
- Unbearable Lightness of Being (1988 movie)
- Ultra Large Ore Carrier (shipping)
Samples in periodicals archive:
It should also reduce negative unliquidated obligations as well as unmatched disbursements and other problem payments.
In addition, the Chairman of the SEC should direct the COO and CFO to augment guidance in SEC's Unliquidated Obligation Review Process to provide, at a minimum: (a) clarifying and communicating the responsibilities for recording deobligations; and (b) clarifying when to deobligate unliquidated obligations with no recent activity for financial reporting purposes and for contract close-out purposes for completed contracts to be consistent with applicable federal financial reporting guidance and OMB Circular No.
Accounting Problems and Issues Perhaps the most vexing problem facing the new finance department was the issue of unmatched disbursements and negative unliquidated obligations - commonly referred to as problem disbursements.
This revised payment authority, approved by the Office of Management and Budget, is limited to unliquidated obligations under awards made by NSF on or before December 15.
In addition, more than $184 million in loans and grant obligations were unliquidated, or unpaid, as of September 2010 and the balance of unliquidated obligations has not changed significantly over the past 6 years.
The year ended with zero Negative Unliquidated Obligations, and the system was available to process FY 2011 transactions at 12:01 a.
Recommendation: The Commissioner of IRS should direct the appropriate IRS officials to reevaluate and, as necessary, revise the aging criteria for the Aging Unliquidated Obligation reviews so that unliquidated obligations are reviewed sooner in order to detect and deobligate excess obligations in a timely manner.