10 U.S.C. § 2721 — Property records: maintenance on quantitative and monetary basis
submitted 70 years ago by ch. 1041 to r/title-10-ARMED-FORCES · 170 words · no verdicts yet
The Secretary of Defense must maintain records of specified military property and supplies by quantity and value when practicable. The records must support current inventory information, identify shortages or excesses, and provide budget information.
(a) Under regulations the Secretary of Defense prescribes, the military departments* must, when practicable, keep records of fixed property, installations, major equipment, and stored supplies* both by quantity and by monetary value. (b) The regulations must require the records, when practicable, to: (1) give current information about every Department of Defense inventory item; (2) show whether each item's inventory is enough or excessive for Department needs; and (3) let the Secretary include in each annual budget sent to Congress under section 1105 of title 31 information about (A) proposed amounts in each appropriation account for Defense inventory purchases and (B) amounts obligated for those purchases from the corresponding account in the previous fiscal year.
Under regulations prescribed by him, the Secretary of Defense shall have the records of the fixed property, installations, major equipment items, and stored supplies* of the military departments* maintained on both a quantitative and a monetary basis, so far as practicable.
The regulations prescribed pursuant to subsection (a) shall include a requirement that the records maintained under such subsection—
to the extent practicable, provide up-to-date information on all items in the inventory of the Department of Defense;
indicate whether the inventory of each item is sufficient or excessive in relation to the needs of the Department for that item; and
permit the Secretary of Defense to include in the budget submitted to Congress under section 1105 of title 31 for each fiscal year, information relating to—
the amounts proposed for each appropriation account in such budget for inventory purchases of the Department of Defense; and
the amounts obligated for such inventory purchases out of the corresponding appropriations account for the preceding fiscal year.
Source credit: (Aug. 10, 1956, ch. 1041, 70A Stat. 152, § 2701; renumbered § 2721, Pub. L. 99–499, title II, § 211(a)(1)(A), Oct. 17, 1986, 100 Stat. 1719; amended Pub. L. 101–510, div. A, title XIII, § 1322(a)(12), Nov. 5, 1990, 104 Stat. 1671; Pub. L. 102–190, div. A, title III, § 347(b), title X, § 1061(a)(17)(A), Dec. 5, 1991, 105 Stat. 1347, 1473.)
- 1956Enacted · Act of Aug. 10, 1956, ch. 1041
- 1986Amended · Pub. L. 99-499 · 100 Stat. 1719
- 1990Amended · Pub. L. 101-510 · 104 Stat. 1671
- 1991Amended · Pub. L. 102-190 · 105 Stat. 1347, 1473
A history note hasn’t been published yet. The record shows enactment by ch. 1041 on 1956-08-10.
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