20 U.S.C. § 5203: Expenditure and audit of…

Summary

Each year, the fund's interest and earnings may be appropriated to Eisenhower Exchange Fellowships, Incorporated. The Government Accountability Office may audit the organization's activities under rules from the Comptroller General, and GAO representatives must have access to books, records, reports, files, and other items the organization owns or uses that relate to the audit.

Title 20, §5203

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(a)Authorization of funding

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)Access to books, records, etc., by Government Accountability Office

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