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Code · BILL · 115th Congress · S. 2800 (Introduced in Senate) — To provide for the conservation and development of water and related resources, to authorize the Secretary of the Arm... · Sec. 1004

Sec. 1004. Transparency and accountability in cost-sharing for water resources projects

251 words·~1 min read·/bill/115/s/2800/is/section-1004

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In this section, the term balance sheet means a document that describes— the funds contributed by each Federal and non-Federal interest for a project; and the status of those funds. Each district of the Corps of Engineers shall— maintain a balance sheet for each project carried out by the Secretary for which a non-Federal cost-share is required; and on request of a non-Federal interest that contributed funds for the project, provide to the non-Federal interest a copy of the balance sheet.
In the case of a project carried out by the Secretary for which the project is completed at a cost less than the estimated cost, the Secretary shall transfer the excess funds back to the non-Federal interest, in accordance with the cost-share requirement applicable to the project. In the case of a completed project carried out by the Secretary for which funds in excess of the funds needed to complete the project have been contributed by a non-Federal interest, the Secretary shall transfer the excess funds to a separate account of the Secretary, in which the funds shall remain available until the non-Federal interest uses the funds in accordance with paragraph (2).
The non-Federal interest may use funds in the account for the non-Federal interest under paragraph (1)— to pay the cost-share for other projects carried out by the Secretary for which a non-Federal cost-share is required; and to pay the costs of operation and maintenance of a project of the non-Federal interest for which a non-Federal cost-share is required.
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