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Code · STATUTE-COMPILATIONS · American Indian Trust Fund Management Reform Act of 1994 · Sec. 102

Sec. 102. RESPONSIBILITY OF SECRETARY TO ACCOUNT FOR THE DAILY AND ANNUAL BALANCES OF INDIAN TRUST FUNDS

247 words·~1 min read·/statute-compilations/comps-1397/sec-102

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## SEC. 102 RESPONSIBILITY OF SECRETARY TO ACCOUNT FOR THE DAILY AND ANNUAL BALANCES OF INDIAN TRUST FUNDS **[**[25 U.S.C. 4011](/us/usc/t25/s4011)**]** ###
(a)Requirement To Account The Secretary shall account for the daily and annual balance of all funds held in trust by the United States for the benefit of an Indian tribe or an individual Indian which are deposited or invested pursuant to the Act of June 24, 1938 (25 U.S.C. 162a). ###
(b)Periodic Statement of Performance Not later than 20 business days after the close of a calendar quarter, the Secretary shall provide a statement of performance to each Indian tribe and individual with respect to whom funds are deposited or invested pursuant to the Act of June 24, 1938 (25 U.S.C. 162a). The statement, for the period concerned, shall identify— ####
(1)the source, type, and status of the funds; ####
(2)the beginning balance; ####
(3)the gains and losses; ####
(4)receipts and disbursements; and ####
(5)the ending balance. ###
(c)Annual Audit The Secretary shall cause to be conducted an annual audit on a fiscal year basis of all funds held in trust by the United States for the benefit of an Indian tribe or an individual Indian which are deposited or invested pursuant to the Act of June 24, 1938 (25 U.S.C. 162a), and shall include a letter relating to the audit in the first statement of performance provided under subsection
(b)after the completion of the audit.
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Sec. 102
RESPONSIBILITY OF SECRETARY TO ACCOUNT FOR THE DAILY AND ANNUAL BALANCES OF INDIAN TRUST FUNDS
U.S.C.§ 4011
U.S.C.§ 162a
Cites 2Cited by 0 across 0 sources
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