40 U.S.C. § 605: Payment of costs

Summary

The Acquisition Services Fund lets the Administrator of General Services pay for a program that provides motor vehicles, equipment, and supplies, including buying or renting them. The Administrator must set prices for those vehicles and services so they, as far as practical, cover the program’s costs. Prices may include an extra amount for future replacement that can stay in the fund as capital and be used only for replacements. Purchase costs and any replacement amount must be recovered by amortization, and costs and reports must use the accrual accounting method.

Title 40, §605

Public Buildings, Property, and Works, Source: USLM XML via OLRC

(a)Use of Acquisition Services Fund To Cover Costs.—

The Acquisition Services Fund provided for in section 321 of this title is available for use by or under the direction and control of the Administrator of General Services to pay the costs of carrying out section 602 of this title, including the cost of purchasing or renting motor vehicles and related equipment and supplies.

(b)Setting Prices To Recover Costs.—

(1)In general.—

The Administrator shall set prices for furnishing motor vehicles and related services under section 602 of this title. Prices shall be set to recover, so far as practicable, all costs of carrying out section 602 of this title.

(2)Increment for replacement cost.—

In the Administrator’s discretion, prices may include an increment for the estimated replacement cost of motor vehicles and related equipment and supplies. Notwithstanding section 321(f) of this title, the increment may be retained as a part of the capital of the Acquisition Services Fund but is available only to replace motor vehicles and related equipment and supplies.

(c)Accounting Method.—

The purchase price of motor vehicles and related equipment, and any increment for estimated replacement cost, shall be recovered only through charges for the cost of amortization. Costs shall be determined, and financial reports prepared, in accordance with the accrual accounting method.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 60540:491(d).June 30, 1949, ch. 288, title II, § 211(d), as added Sept. 5, 1950, ch. 849, § 5(c), 64 Stat. 583; Sept. 1, 1954, ch. 1211, § 2, 68 Stat. 1127; Pub. L. 95–506, Oct. 24, 1978, 92 Stat. 1756.

Editorial Notes

Amendments

2006—Subsec. (a). Pub. L. 109–313, § 3(h)(6)(A), substituted “Acquisition Services Fund” for “General Supply Fund” in heading and text. Subsec. (b)(2). Pub. L. 109–313, § 3(h)(6)(B), substituted “321(f)” for “321(f)(1)” and “Acquisition Services Fund” for “General Supply Fund”.

Statutory Notes and Related Subsidiaries

Effective Date

of 2006 AmendmentAmendment by Pub. L. 109–313 effective 60 days after Oct. 6, 2006, see section 6 of Pub. L. 109–313, set out as a note under section 5316 of Title 5, Government Organization and Employees.

§605 Payment of Costs