United States Code (Last Updated: May 24, 2014) |
Title 31. MONEY AND FINANCE |
SubTitle I. GENERAL |
Chapter 3. DEPARTMENT OF THE TREASURY |
SubChapter II. ADMINISTRATIVE |
§ 331. Reports
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(a) The Secretary of the Treasury shall submit to Congress each year an annual report. The report shall include— (1) a statement of the public receipts and public expenditures for the prior fiscal year; (2) estimates of public receipts and public expenditures for the current and next fiscal years; (3) plans for improving and increasing public receipts to provide Congress with information on ways to raise amounts necessary to meet public expenditures; (4) a statement of all contracts for supplies or services made by the Secretary during the prior fiscal year; (5) a statement of appropriations expended to pay for miscellaneous claims not otherwise provided for; (6) a statement on all payments made from the fund under section 3126 of this title for the prior fiscal year; and (7) estimates of amounts for payment under section 1322(b) of this title. (b) (1) On the first day of each regular session of Congress, the Secretary shall submit to Congress a report for the prior fiscal year on— (A) the total and individual amounts of contingent liabilities and unfunded liabilities of the United States Government; (B) as far as practicable, trust fund liabilities, liabilities of Government corporations, indirect liabilities not included as a part of the public debt, and liabilities of insurance and annuity programs (including their actuarial status); (C) collateral pledged and assets available (or to be realized) as security for the liabilities (separately noting Government obligations) and other assets specifically available to liquidate the liabilities of the Government; and (D) the total amount in each category under clauses (A)–(C) of this paragraph for each agency. (2) The report shall present the information required under paragraph (1) of this subsection in a concise way, with explanatory material (including an analysis of the significance of liabilities based on past experience and probable risk) the Secretary considers desirable. (c) On the first day of each regular session of Congress, the Secretary shall submit to Congress a report for the prior fiscal year on the total amount of public receipts and public expenditures listing receipts, when practicable, by ports, districts, and States and the expenditures by each appropriation. (d) The Secretary shall report to either House of Congress in person or in writing, as required, on matters referred to the Secretary by that House of Congress. (e) (1) Not later than March 31 of 1998 and each year thereafter, the Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget, shall annually prepare and submit to the President and the Congress an audited financial statement for the preceding fiscal year, covering all accounts and associated activities of the executive branch of the United States Government. The financial statement shall reflect the overall financial position, including assets and liabilities, and results of operations of the executive branch of the United States Government, and shall be prepared in accordance with the form and content requirements set forth by the Director of the Office of Management and Budget. (2) The Comptroller General of the United States shall audit the financial statement required by this section.
Historical And Revision
Historical and Revision Notes | ||
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Revised Section | Source (U.S. Code | Source (Statutes at Large) |
331(a)(1)– (5) | 31:1027. | R.S. § 257. |
31:1030. | Feb. 26, 1907, ch. 1635, § 1(2d par. under heading “Treasury Department”), 34 Stat. 949. | |
331(a)(6) | 31:757c(i)(last sentence). | Sept. 24, 1917, ch. 56, 40 Stat. 288, § 22(i)(last sentence); added Apr. 11, 1943, ch. 52, § 3, 57 Stat. 63; restated Apr. 3, 1945, ch. 51, § 3, 59 Stat. 48. |
331(a)(7) | 31:725p(a)(last sentence). | June 26, 1934, ch. 756, §§ 17(a)(last sentence), 18(a)(last sentence), 48 Stat. 1230, 1231. |
31:725q(a)(last sentence). | ||
331(b) | 31:757f. | Nov. 13, 1966, Pub. L. 89–809, § 402, 80 Stat. 1590; Apr. 21, 1976, Pub. L. 94–273, § 2(17), 90 Stat. 375. |
331(c) | 31:1029. | |
331(d) | 31:1002(words between 4th and 5th semicolons) | R.S. § 248(words between 4th and 5th semicolons). |
In subsections (a) and (c), the word “receipts” is substituted for “revenues” for consistency in the section and the revised title.
In subsection (a)(1), the words “public receipts and public expenditures” are substituted for “receipts and expenditures of the Government” in 31:1030 for consistency in the section. The word “completed” is omitted as surplus. In clause (2), the words “First. A report on the subject of finance” in 31:1027 are omitted because of the restatement. The word “containing” is omitted as surplus. In clause (4), the words “Second. A report containing” are omitted because of the restatement. The words “prior fiscal year” are substituted for “during the year preceding” for consistency. In clause (5), the words “paid at the Treasury” are omitted as unnecessary. The 3d paragraph of section 257 of the Revised Statutes, providing for a report on rules and regulations of the Secretary of the Treasury on imported goods, wares, and merchandise, is omitted as obsolete because section 252 of the Revised Statutes, authorizing those rules and regulations, was repealed by the Act of
In subsection (b)(1), before clause (A), the words “for the prior fiscal year” are substituted for “as of the close of the preceding September 30 (beginning with the report as of
In subsection (c), the words “a report for the prior fiscal year on the total amount of public receipts and public expenditures” are substituted for “an accurate combined statement of the receipts and expenditures during the last preceding fiscal year of all public moneys” because of the restatement. The words “including those of the United States Postal Service” are omitted as unnecessary and superseded by 39:410.
In subsection (d), the words “either House of Congress” are substituted for “either branch of the legislature” for clarity and consistency. The words “that House of Congress” are substituted for “the Senate or House of Representatives” for consistency and because of the restatement. The words “or which appertain to his office” are omitted as unnecessary because of subsections (a)–(c) of the section.
Amendments
1994—Subsec. (e). Pub. L. 103–356 added subsec. (e).
Miscellaneous
For termination, effective