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15 U.S.C. § 1521Working capital fund; establishment; amount; uses; reimbursement

submitted 82 years ago by ch. 294 to r/title-15-COMMERCE-AND-TRADE · 183 words · no verdicts yet

in plain englishAI-generated · not legal advice

The section creates a $100,000 working-capital fund without fiscal-year limits for central services and other services approved for central operation. Bureaus, offices, and agencies reimburse the fund at rates covering specified costs, and the annual Budget must show its activity and financial position.

A $100,000 working-capital fund is established without fiscal-year limitation. It pays salaries and other costs for (1) central duplicating, photographic, drafting, and photostating services and (2) other services the Secretary, with Office of Management and Budget approval, decides can be provided more advantageously centrally. Bureaus, offices, and agencies receiving services must reimburse the fund at rates including estimated or actual personnel, materials, equipment, maintenance, repair, depreciation, and other costs. To the fullest practicable extent, central services must make separate similar services unnecessary. The annual Budget must include a separate expenditure-and-reimbursement schedule and a statement of the fund’s assets and liabilities at the end of the last completed fiscal year.
the actual law source: uscode.house.gov ↗public domain

There is established a working capital fund of $100,000, without fiscal year limitation, for the payment of salaries and other expenses necessary to the maintenance and operation of (1) central duplicating, photographic, drafting, and photostating services and (2) such other services as the Secretary, with the approval of the Director of the Office of Management and Budget, determines may be performed more advantageously as central services; said fund to be reimbursed from applicable funds of bureaus, offices, and agencies for which services are performed on the basis of rates which shall include estimated or actual charges for personal services, materials, equipment (including maintenance, repairs, and depreciation) and other expenses: Provided, That such central services shall, to the fullest extent practicable, be used to make unnecessary the maintenance of separate like services in the bureaus, offices, and agencies of the Department: Provided further, That a separate schedule of expenditures and reimbursements, and a statement of the current assets and liabilities of the working capital fund as of the close of the last completed fiscal year, shall be included in the annual Budget.

Source credit: (June 28, 1944, ch. 294, title III, § 301, 58 Stat. 415; 1970 Reorg. Plan No. 2, § 102, eff. July 1, 1970, 35 F.R. 7959, 84 Stat. 2085.)

history & why it existsrecord from the source credit
  • 1944Enacted · Act of June 28, 1944, ch. 294 · 58 Stat. 415

A history note hasn’t been published yet. The record shows enactment by ch. 294 on 1944-06-28.

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