Sec. 10305. Working Capital Fund
201 words·~1 min read·
/bill/113/hr/1793/ih/section-10305A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Administrator is authorized to establish a Working Capital Fund (in this section referred to as the Fund ). Amounts deposited during any fiscal year in the Fund shall be available without fiscal year limitation and used, in addition to other funds available for such purposes, for administrative costs resulting from Agency implementation and procurement reform efforts, the administration of this Fund, and administrative contingencies designated by the Administrator. There may be deposited in any fiscal year in the Fund up to 1 percent of the total value of obligations entered into by the Agency from appropriations available to the Agency and any appropriation made available for the purpose of providing capital.
Receipts from the disposal of, or payments for the loss or damage to, property held in the Fund, rebates, reimbursements, refunds and other credits applicable to the operation of the Fund may be deposited into the Fund. At the close of each fiscal year the Administrator shall transfer out of the Fund and into the Emergency Humanitarian Response Fund established under section 1905 of this Act amounts in excess of $100,000,000 and any other amounts that the Administrator determines to be in excess of the needs of the Fund.