36 U.S.C. § 300110: Annual report and audit

Summary

After its fiscal year ends (the board of governors can change the year), the corporation must promptly send the Secretary of Defense a report on its activities that includes a complete, itemized list of all money received and spent. The Secretary will audit the report and send the audited copy to Congress. Each year the corporation must reimburse the Secretary for the cost of that audit. The payment is deposited into the U.S. Treasury as a miscellaneous receipt.

Title 36, §300110

Patriotic and National Observances, Source: USLM XML via OLRC

(a)Submission of Report.—

As soon as practicable after the end of the corporation’s fiscal year, which may be changed from time to time by the board of governors, the corporation shall submit a report to the Secretary of Defense on the activities of the corporation during such fiscal year, including a complete, itemized report of all receipts and expenditures.

(b)Auditing of Report and Submission to Congress.—

The Secretary shall audit the report and submit a copy of the audited report to Congress.

(c)Payment of Audit Expenses.—

The corporation shall reimburse the Secretary each year for auditing its accounts. The amount paid shall be deposited in the Treasury of the United States as a miscellaneous receipt.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 300110(a)–(c)36:6.Jan. 5, 1905, ch. 23, § 6, 33 Stat. 602; Feb. 27, 1917, ch. 137, 39 Stat. 946; July 17, 1953, ch. 222, § 4(c), 67 Stat. 179. 36:7.May 29, 1920, ch. 214, § 1 (1st complete par. on p. 659), 41 Stat. 659; July 17, 1953, ch. 222, § 5, 67 Stat. 179. In subsection (a), the words “make and”, “next preceding”, and “full” are omitted as unnecessary. The word “activities” is substituted for “proceedings” for consistency in the revised title. The words “all receipts and expenditures” are substituted for “receipts and expenditures of whatever kind” to eliminate unnecessary words. In subsections (b) and (c), the word “Secretary” is substituted for “Department of Defense” for consistency.

Editorial Notes

Amendments

2007—Subsec. (a). Pub. L. 110–26 reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “As soon as practicable after July 1 of each year, the corporation shall submit a report to the Secretary of Defense on the activities of the corporation during the fiscal year ending June 30, including a complete, itemized report of all receipts and expenditures.”

§300110 Annual Report and Audit