Revocation of EO 202 Savings Requirement

Executive Order No. 209 is entitled “Revocation of EO 202 Savings Requirement.”
The order states that requiring 5 per cent savings from authorized expenditures no longer exists.
The order explains improved revenue collections for May and June, nineteen hundred and thirty-nine.
The order states that total ordinary income for the period January 1 to June 30, 1939 will be sufficient to cover the entire amount of authorized ordinary expenditures for the same period.
The order revokes Executive Order No. 202, current series.

Executive Order No. 209 revokes Executive Order No. 202, current series.
The revoked requirement in Executive Order No. 202 concerns setting up 5 per cent savings from releases under Executive Orders Nos. 190 and 198, current series.
The savings requirement covered the first six months of 1939.
The savings were to be set up from amounts of authorized expenditures authorized in Commonwealth Act No. 300a.
The revocation removes the necessity for the 5 per cent savings requirement described above.

The order ties its justification to revenue collections in May and June, 1939.
The order’s forecast period is January 1 to June 30, 1939.
The order declares that ordinary income for that period will cover the entire amount of authorized ordinary expenditures for the same period.
The order states that, because that condition exists, the 5 per cent savings requirement is no longer necessary.

Executive Order No. 209 commands that Executive Order No. 202 is revoked.
The revocation is the operative act establishing the legal effect of removing the prior savings requirement.
The revocation is effective as a revocation of Executive Order No. 202, current series covering the described savings requirement for the first six months of 1939.
The order does not impose any new savings percentage or alternative requirement in place of the revoked one.