§7107 — Title 31 Money and Finance | U.S. Code

Summary

Agencies can set up a joint management fund to pool money from more than one assistance program or appropriation for a project. Each program must put its proportional share into the fund on a regular basis. When the project ends, the grantee must return any unspent money to the fund. The fund’s accounts are run under an agreement among the agency heads. That agreement must make sure agencies and Congress can get needed information, say which agency manages and is accountable for each program’s money, and include rules for returning extra funds to the participating agencies under fiscal-year rules. Extra money from an expired appropriation is removed from the fund. For each project paid from the fund, recipients must keep records the managing agency requires. Records must show amounts by program and appropriation, how the money was used, the project’s total cost, other funding sources, and other items needed for audits. Those records must be available to the managing agency and the Comptroller General. One non-government share may be set to match the programs’ proportional shares and the amounts each program transferred.

Title 31, §7107

Money and Finance — Source: USLM XML via OLRC

(a)In supporting a project, a joint management fund may be established to administer more effectively amounts received from more than one assistance program or appropriation. A proportional share of the amount required to pay a grantee shall be transferred periodically to the fund from each program or appropriation. When a project is completed, the grantee shall return to the fund an amount not expended.

(b)An account in a joint management fund is subject to an agreement made by the heads of the executive agencies providing assistance for the project about the responsibilities of each agency. An agreement shall—

(1)ensure the availability of necessary information to the executive agencies and Congress;

(2)provide that the agency administering a fund is responsible and accountable by program and appropriation for the amounts provided for the purposes of each account in the fund; and

(3)include procedures for returning, subject to fiscal year limitations, an excess amount to participating executive agencies under the applicable appropriation. An excess amount of an expired appropriation lapses from the fund.

(c)For each project financed through an account in a joint management fund, a recipient of an amount from the fund shall keep records prescribed by the head of the executive agency responsible for administering the fund. The records shall include—

(1)the amount and disposition by the recipient of assistance received under each program and appropriation;

(2)the total cost of the project for which assistance was given or used;

(3)that part of the cost of the project provided from other sources; and

(4)other records that will make it easier to carry out an audit.

(d)Records of a recipient related to an amount received from a joint management fund shall be made available to the head of the executive agency responsible for administering the fund and the Comptroller General for inspection and audit.

(e)For a project subject to a joint management fund, one non-Government share may be established conforming to—

(1)the proportional shares applicable to the assistance programs involved; and

(2)the proportional shares of an amount transferred to the project account from each of the programs.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 7107(a)42:4257(a).Dec. 5, 1974, Pub. L. 93–510, § 8, 88 Stat. 1606. 7107(b)42:4257(b). 7107(c)42:4257(c). 7107(d)42:4257(d). 7107(e)42:4257(e). In subsection (a), the words “to administer more effectively” are substituted for “In order to provide the more effective administration” to eliminate unnecessary words. The words “amounts received” are substituted for “funds drawn” for consistency. The words “A proportional share of the amount required to pay a grantee” are substituted for “proportionate share of amounts needed for payment to the grantee” because of the restatement. The words “with respect to such projects”, “affected”, and “from time to time” are omitted as unnecessary. In subsection (b), before clause (1), the words “made by the heads of executive agencies” are substituted for “as may be entered into by the Federal agencies concerned” to eliminate unnecessary words. The words “providing assistance for the project about the responsibilities of each agency” are substituted for “with respect to the discharge of the responsibilities of those agencies” for clarity. In clause (2), the word “established” is omitted as unnecessary. In clause (3), the words “for determining”, “whether amounts in the account are in excess of the amounts required”, and “applicable to” are omitted as unnecessary. The words “excess amount” are substituted for “that excess” for clarity. In subsection (c), before clause (1), the words “established pursuant to this section” are omitted as unnecessary. The words “amount from” are substituted for “moneys drawn from” for consistency. The word “include” is substituted for “as a minimum, fully disclose” to eliminate unnecessary words. In clause (4), the words “to carry out” are added for clarity. The word “effective” is omitted as unnecessary. In subsection (d), the word “Records” is substituted for “books, documents, papers, and records”, and the words “shall be made available . . . for inspection and audit” are substituted for “shall have access for the purpose of audit and examination to”, to eliminate unnecessary words and for consistency in the revised title and with other titles of the United States Code. The word “related” is substituted for “that are pertinent”, and the words “an amount” are substituted for the word “money”, for consistency. The words “of the United States”, and “or any of their duly authorized representatives” are omitted as unnecessary. In subsection (e), the word “For” is substituted for “in the case of” to eliminate unnecessary words. The words “proportional shares” are substituted for “federal share ratios” for clarity.

§7107 Joint Management Funds

Summary

Title 31, §7107

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata