Which of the following is used where virement is not possible and where an application for additional provision reveals a degree of urgency?
Answer Details
The answer is "contingency warrant."
A contingency warrant is used when virement, which is the transfer of funds from one budget heading to another, is not possible or practicable. It is also used when there is an urgent need for additional provision, but the normal procedure of obtaining authority would cause undue delay.
Contingency warrants are issued by the Treasury or other relevant authority and are subject to strict limits and conditions. They allow the relevant department or agency to spend money for a specific purpose within a certain time frame. The use of contingency warrants is closely monitored to ensure that they are used appropriately and in accordance with the relevant regulations and procedures.