Unliquidated Obligations for Reports Prepared on a Cash Basis Law and Legal Definition

Pursuant to 49 CFR 18.3 [Title 49 – Transportation, Subtitle A -- Office of the Secretary of Transportation], the term unliquidated obligations for reports prepared on a cash basis mean “the amount of obligations incurred by the grantee that has not been paid. For reports prepared on an accrued expenditure basis, they represent the amount of obligations incurred by the grantee for which an outlay has not been recorded.”