10 U.S.C. § 2210: Proceeds of sales of…

Summary

A working-capital fund can use money from selling supplies, equipment, or other personal property (when those items were not bought with stock funds) to pay the costs of making the sale. Any extra money from the sale goes into the Department of Defense’s current appropriations. The Secretary of Defense, with the President’s approval, may make obligations against expected reimbursements to stock funds beyond normal fiscal-year limits if needed to keep stock levels for the next fiscal year.

Title 10, §2210

Armed Forces, Source: USLM XML via OLRC

(a)(1)A working-capital fund established pursuant to section 2208 of this title may retain so much of the proceeds of disposals of property referred to in paragraph (2) as is necessary to recover the expenses incurred by the fund in disposing of such property. Proceeds from the sale or disposal of such property in excess of amounts necessary to recover the expenses may be credited to current applicable appropriations of the Department of Defense.

(2)Paragraph (1) applies to disposals of supplies, material, equipment, and other personal property that were not financed by stock funds established under section 2208 of this title.

(b)Obligations may, without regard to fiscal year limitations, be incurred against anticipated reimbursements to stock funds in such amounts and for such period as the Secretary of Defense, with the approval of the President, may determine to be necessary to maintain stock levels consistently with planned operations for the next fiscal year.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised sectionSource (U.S. Code)Source (Statutes at Large) 2210(a)2210(b)5:172d–1 (less proviso).5:172d–1 (proviso).Aug. 1, 1953, ch. 305, § 645, 67 Stat. 357. In section (a), the words “proceeds of the disposal” are substituted for the words “moneys arising from the disposition”.

Editorial Notes

Amendments

1998—Subsec. (a). Pub. L. 105–261 amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: “Current applicable appropriations of the Department of Defense may be credited with proceeds of the disposals of supplies that are not financed by stock funds established under section 2208 of this title.” 1980—Subsec. (b). Pub. L. 96–513 substituted “President” for “Director of the Bureau of the Budget”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1980 AmendmentAmendment by Pub. L. 96–513 effective Dec. 12, 1980, see section 701(b)(3) of Pub. L. 96–513, set out as a note under section 101 of this title.

§2210 Proceeds of Sales of Supplies: Credit to Appropriations