Title 20, EducationRelease 119-102
§4511 Expenditures and Audit
Title 20 › CHAPTER 57 — JAMES MADISON MEMORIAL FELLOWSHIP PROGRAM › § 4511
Summary
The Treasury Secretary can pay the Foundation out of the fund’s interest and earnings when the Board says the amounts are needed for the Foundation to do its work under this law. The Government Accountability Office may audit the Foundation’s activities under rules the Comptroller General sets. GAO auditors may inspect any books, records, reports, files, and other materials or property the Foundation owns or uses that relate to those activities.
Full Legal Text
Title 20, §4511
Education, Source: USLM XML via OLRC
(a)The Secretary of the Treasury is authorized to pay to the Foundation from the interest and earnings of the fund such sums as the Board determines are necessary and appropriate to enable the Foundation to carry out the provisions of this chapter.
(b)The activities of the Foundation under this chapter 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 the Foundation, pertaining to such activities and necessary to facilitate the audit.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Pub. L. 99–591 is a corrected version of Pub. L. 99–500.
Amendments
2004—Subsec. (b). Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office” in two places.
Reference
Citations & Metadata
Citation
20 U.S.C. § 4511
Title 20, Education
Last Updated
Aug 21, 2026
Release point: 119-102