Page:United States Statutes at Large Volume 92 Part 2.djvu/1139

 PUBLIC LAW 95-567—NOV. 2, 1978

92 STAT. 2419

successor organization) unless assurances are provided to the Corporation that no officer or employee of the Public Broadcasting Service or National Public Radio (or any successor organization), as the case may be, will be compensated at an annual rate of pay which exceeds the rate of basic pay in effect from time to time for level I of the Executive Schedule under section 5312 of title 5, United States Code.". (b) Section 396(k) (10) of the Communications Act of 1934, as added by subsection (a), shall not be construed to reduce the annual rate of pay of any officer or employee of the Public Broadcasting Service or National Public Radio (or any successor organization) in any case in which (1) such officer or employee was appointed or named to any position in the Public Broadcasting Service or National Public Radio (or any successor organization) before the date of the enactment of this Act; and (2) the annual rate of pay for such position, as in effect on such date of enactment, exceeds the maximum rate of pay established in section 396(k) (10) of the Communications Act of 1934, as added by subsection (a).

47 USC 396 note. Ante, p. 2415.

F I N A N C I A L MANAGEMENT AND RECORDS

SEC. 308. Section 396(1)(3) of the Communications Act of 1934 is amended to read as follows: "(3)(A) Not later than 1 year after the effective date of this paragraph, the Corporation, in consultation with the Comptroller General, and as appropriate with others, shall develop accounting principles which shall be used uniformly by all public telecommunications entities receiving funds under this subpart, taking into account organizational differences among various categories of such entities. Such principles shall be designed to account fully for all funds received and expended for public telecommunications purposes by such entities. •'(B) Each public telecommunications entity receiving funds under this subpart shall be required— "(i) to keep its books, records, and accounts in such form as may be required by the Corporation; "(ii) to undergo an annual audit by independent certified public accountants or independent licensed public accountants certified or licensed by a regulatory authority of a State, which audit shall be in accordance with auditing standards developed by the Corporation, in consultation with the Comptroller General; and " (iii) to furnish annually to the Corporation a copy of the audit report required pursuant to clause (ii), as well as such other ': information regarding finances (including an annual financial report) as the Corporation may require. "(C) Any recipient of assistance by grant or contract under this section, other than a fixed price contract awarded pursuant to competitive bidding procedures, shall keep such records as may be reasonably necessary to disclose fully the amount and the disposition by such recipient of such assistance, the total cost of the project or undertaking in connection with which such assistance is given or used, and the amount and nature of that portion of the cost of the project or undertaking supplied by other sources, and such other records as will facilitate an effective audit. "(D) The Corporation or any of its duly authorized representatives shall have access to any books, documents, papers, and records

47 USC 396. Accounting principles, development,

Recordkeeping requirements. "?,.

Books, documents, papers, and records, accessibility.

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