Page:United States Statutes at Large Volume 63 Part 1.djvu/627

 63 STAT.] 81ST CONG. , IST SESS.-CH. 412 -AUG. 10, 1949 not susceptible of immediate distribution as charges to such appropria- tions, there are hereby established the Navy Management Fund, the Army Management Fund, and the Air Force Management Fund, each within, and under the direction of the respective Secretaries of, the Departments of the Navy, Army, or Air Force, as the case may be. There are authorized to be appropriated from time to time such funds as may be necessary to accomplish the purposes of the funds. "'(b) The corpus of the Navy Management Fund shall consist of the sum of $1,000.000 heretofore transferred to the Naval Procurement Fund from the Naval Emergency Fund (17X0300), which amount, and all balances in, and obligations against, any accounts in the Naval Procurement Fund, are hereby transferred to the Navy Management Fund; the corpus of the Army Management Fund shall consist of the sum of $1,000,000, which shall be transferred thereto from any unobli- gated balance of any appropriation available to the Department of the Army; the corpus of the Air Force Management Fund shall consist of the sum of $1,000,000, which shall be transferred thereto from any unobligated balance of any appropriation available to the Department of the Air Force; in each case together with such additional funds as may from time to time be appropriated to any of said funds. Accounts for the individual operations to be financed under the respective man- agement funds shall be established only upon approval by the Secre- tary of Defense. "'(c) Expenditures may be made from said management funds from time to time for material (other than material for stock) and for personal and contractual services under such regulations as may be prescribed by the Secretary of Defense: Provided, (1) That no obliga- tion shall be incurred against any such fund which is not properly chargeable to available funds under an appropriation of the depart- ment within which the fund is established or, whenever necessary to effectuate purposes authorized by this Act to funds of another depart- ment or agency within the Department of Defense, and (2) that each fund shall be promptly reimbursed from the appropriate appropria- tions of such department for all expenditures properly chargeable thereto. Nothing herein or in any other provision of law shall be construed to prevent advances by check or warrant, or reimburse- ments to any of said management funds from appropriations of said departments on the basis of the estimated cost of a project, such esti- mated cost to be revised and necessary appropriation adjustments made when adequate data become available. "'(d) Except as otherwise provided by law, amounts advanced to the management funds under the provisions of this Act shall be avail- able for obligation only during the fiscal year in which they are advanced: Provided, That nothing contained in this Act shall alter or limit the authorized period of availability of the funds from which such advances are made. Final adjustments of advances in accord- ance with actual costs shall be effected with the appropriate funds for the fiscal year in which such funds are advanced. "'(e) The portion of the Naval Appropriation Act, 1945 (58 Stat. 301, 310), relating to the Naval Procurement Fund is hereby repealed.' "ADJUSTMENT OF ACCOUNTS "SEC. 407. (a) When under authority of law a function or an activity is transferred or assigned from one department or agency within the Department of Defense to another such department or agency, the balances of appropriations which are determined by the Secretary of Defense to be available and necessary to finance or discharge the func- tion or activity so transferred or assigned may, with the approval of 589 Appropriations au- thorized. Expenditures. Restriction. Reimbursement. Advances of funds. Period of avail- ability. 31 U. S. C. §645a note.

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