For those who have worked for government organizations at various levels, you may have heard the term ‘use it or lose it’ in the context of spending unused funds at year-end. The concept is you are given a budget for the fiscal year, and if you lapse funds, they will be returned to the Centre never to be seen again. In fact, some managers fear the following year budget will also be reduced because if you did not need that much last year, you probably don’t need that much next year either. Unfortunately, the above mentality leads to questionable decisions such as purchasing frivolous goods or services, as well as ‘business retreats’ on cruise ships. However, when ́March Madness ́ is used to stock up on necessary items such as office supplies, rations for kitchens, or fuel for vehicles and equipment, it is generally acceptable. However, if the value of these types of ‘inventoriable’ items becomes excessive, accounting policies may require you to move the value of the product o...