§941 — Title 14 Coast Guard | U.S. Code

Summary

Creates a Coast Guard Supply Fund. The Secretary may set rules about what kinds of materials to keep in stock. If the fund is expanded to include items not previously stocked, or spare parts from big purchases like vessels or aircraft, the Secretary may increase the fund’s capital by the value of usable items moved in from other Coast Guard inventories. Other purchases must be charged to the fund. The fund is credited when items are used, issued, sold, or disposed of, using values that roughly cover their cost. Obligations may be made against expected reimbursements to the fund regardless of fiscal year limits, in amounts and for periods the Secretary, with approval of the Director of the Office of Management and Budget, finds needed to keep stock levels consistent with planned operations for the next year.

Title 14, §941

Coast Guard — Source: USLM XML via OLRC

(a)A Coast Guard Supply Fund is authorized. The Secretary may prescribe regulations for designating the classification of materials to be stocked. In these regulations, whenever the fund is extended to include items not previously stocked, or spare parts obtained as part of a procurement under a different account of major items such as vessels or aircraft, whether or not such parts were previously stocked, the Secretary may authorize an increase in the existing capital of the fund by the value of such usable materials transferred thereto from Coast Guard inventories carried in other accounts. Except for the materials so transferred, the fund shall be charged with the cost of materials purchased or otherwise acquired. The fund shall be credited with the value of materials consumed, issued for use, sold, or otherwise disposed of, such values to be determined on a basis that will approximately cover the cost thereof.

(b)Obligations may, without regard to fiscal year limitations, be incurred against anticipated reimbursement to the Coast Guard Supply Fund in such amount and for such period, as the Secretary, with approval of the Director of the Office of Management and Budget, may determine to be necessary to maintain stock levels consistently with planned operations for the next year.

Notes & Related Subsidiaries

Historical and Revision Notes

A Coast Guard supply fund was established by the Naval Appropriation Act for fiscal year 1943 approved February 7, 1942, 56 Stat. 73. Experience has clearly shown that it is advantageous to the Government to have permanent authorization for such a fund. 81st Congress,

House Report No. 557

Editorial Notes

Amendments

2018—Pub. L. 115–282 renumbered section 650 of this title as this section. 1980—Subsec. (a). Pub. L. 96–376 substituted “these

Regulations

” for “such

Regulations

” and authorized an increase in the capital of the fund when the fund is extended to include spare parts obtained as part of a procurement under a different account of major items such as vessels or aircraft, whether or not such parts were previously stocked. 1976—Subsec. (b). Pub. L. 94–546 substituted “Office of Management and Budget” for “Bureau of the Budget”. 1970—Pub. L. 91–278 designated existing provisions as subsec. (a) and added subsec. (b). 1956—Act Aug. 7, 1956, substituted “Coast Guard Supply Fund” for “Coast Guard supply fund and supply account” in section catchline, struck out provisions calling for mandatory increase of the Fund by the value of commissary provisions and uniform clothing on hand on July 1, 1949, and inserted provisions permitting the Secretary to prescribe

Regulations

for designating the classification of materials to be stocked and for increasing the existing capital of the Fund.

§941 Coast Guard Supply Fund

Summary

Title 14, §941

Notes & Related Subsidiaries

Historical and Revision Notes

House Report No. 557

Editorial Notes

Amendments

Regulations

Regulations

Regulations

Citations & Metadata