§5203 — Title 20 Education | U.S. Code

Summary

Each fiscal year, interest and earnings from the fund may be paid to Eisenhower Exchange Fellowships, Incorporated. The Government Accountability Office may audit the group's activities under rules set by the Comptroller General and may inspect any books, records, reports, files, papers, or property related to those activities.

Title 20, §5203

Education — Source: USLM XML via OLRC

(a)For each fiscal year, there is authorized to be appropriated from the fund to Eisenhower Exchange Fellowships, Incorporated, the interest and earnings of the fund.

(b)The activities of Eisenhower Exchange Fellowships, Incorporated, may be audited by the Government Accountability Office under such rules and regulations as may be prescribed by the Comptroller General of the United States. The representatives of the Government Accountability Office shall have access to all books, accounts, records, reports, and files and all other papers, things, or property belonging to or in use by Eisenhower Exchange Fellowships, Incorporated, pertaining to such activities and necessary to facilitate the audit.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2004—Subsec. (b). Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office” in heading and in two places in text.

Statutory Notes and Related Subsidiaries

Use of Earned Unused Trust Income for Fellowship Purposes Pub. L. 104–134, title I, § 101[(a)] [title IV, § 407], Apr. 26, 1996, 110 Stat. 1321, 1321–45; renumbered title I, Pub. L. 104–140, § 1(a), May 2, 1996, 110 Stat. 1327, provided in part that: “notwithstanding any other provision of law, Eisenhower Exchange Fellowships, Incorporated, may use one-third of any earned but unused trust income from the period 1992 through 1995 for Fellowship purposes in each of fiscal years 1996 through 1998.”

§5203 Expenditure and audit of trust fund