United States Code (Last Updated: May 24, 2014) |
Title 31. MONEY AND FINANCE |
SubTitle II. THE BUDGET PROCESS |
Chapter 15. APPROPRIATION ACCOUNTING |
SubChapter IV. CLOSING ACCOUNTS |
§ 1554. Audit, control, and reporting
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(a) Any audit requirement, limitation on obligations, or reporting requirement that is applicable to an appropriation account shall remain applicable to that account after the end of the period of availability for obligation of that account. (b) (1) After the close of each fiscal year, the head of each agency shall submit to the President and the Secretary of the Treasury a report regarding the unliquidated obligations, unobligated balances, canceled balances, and adjustments made to appropriation accounts of that agency during the completed fiscal year. The report shall be submitted no later than 15 days after the date on which the President’s budget for the next fiscal year is submitted to Congress under section 1105 of this title. (2) Each report required by this subsection shall— (A) provide a description, with reference to the fiscal year of appropriations, of the amount in each account, its source, and an itemization of the appropriations accounts; (B) describe all current and expired appropriations accounts; (C) describe any payments made under section 1553 of this title; (D) describe any adjustment of obligations during that fiscal year pursuant to section 1553 of this title; (E) contain a certification by the head of the agency that the obligated balances in each appropriation account of the agency reflect proper existing obligations and that expenditures from the account since the preceding review were supported by a proper obligation of funds and otherwise were proper; (F) describe all balances canceled under sections 1552 and 1555 of this title. (3) The head of each Federal agency shall provide a copy of each such report to the Speaker of the House of Representatives and the Committee on Appropriations, the Committee on Governmental Affairs, and other appropriate oversight and authorizing committees of the Senate. (c) The head of each agency shall establish internal controls to assure that an adequate review of obligated balances is performed to support the certification required by section 1108(c) of this title.
Historical And Revision
Historical and Revision Notes | ||
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Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
1554(a) | 31:703(a)(1st, 2d sentences, last sentence proviso). | July 25, 1956, ch. 727, § 3(a), 70 Stat. 649; Reorg. Plan No. 2 of 1970, eff. July 1, 1970, § 102(a), 84 Stat. 2085; Apr. 21, 1976, Pub. L. 94–273, § 8(1), 90 Stat. 378. |
1554(b) | 31:703(a)(3d sentence, last sentence less proviso). |
In subsection (a), the words “head of the agency” are substituted for “agency concerned” for consistency. The word “President” is substituted for “Director of the Office of Management and Budget” because sections 101 and 102(a) of Reorganization Plan No. 2 of 1970 (eff.
In subsection (b), the words “withdrawal or restoration” are substituted for “transactions” the first time it appears.
Amendments
1991—Subsecs. (c), (d). Pub. L. 102–190 redesignated subsec. (d) as (c) and struck out former subsec. (c) which read as follows:
“(1) The Director of the Congressional Budget Office shall estimate each year the effect on the Federal deficit of payments and adjustments made with respect to sections 1552 and 1553 of this title. Such estimate shall be made separately for accounts of each agency.
“(2) The Director shall include in the annual report of the Director to the Committees on the Budget of the Senate and House of Representatives under paragraph (1) of section 202(f) of the Congressional Budget Act of 1974 a statement of the estimates made pursuant to paragraph (1) of this subsection during the preceding year (including any revisions to estimates contained in earlier reports under such paragraph). The Director shall include in any report under paragraph (2) of that section any revisions to such estimates made since the most recent report under paragraph (1) of such section.”
1990—Pub. L. 101–510 substituted “Audit, control, and reporting” for “Review of appropriation accounts” in section catchline and amended text generally, substituting subsecs. (a) to (d) for former subsecs. (a) and (b) which required the head of each agency to annually review each appropriation account established by the agency under section 1552 of this title.
Change Of Name
Committee on Governmental Affairs of Senate changed to Committee on Homeland Security and Governmental Affairs of Senate, effective
Effective Date Of Amendment
Amendment by Pub. L. 101–510 applicable to any appropriation account the obligated balance of which, on
Miscellaneous
Pub. L. 102–190, div. A, title X, § 1004(a),