Page:United States Statutes at Large Volume 92 Part 2.djvu/839

 PUBLIC LAW 95-557—OCT. 31, 1978

92 STAT. 2119

(e) The corporation shall conduct or require each grantee or contractor to provide for an annual financial audit. The report of each such audit shall be maintained for a period of at least five years at the principal office of the corporation. AUTHORIZATION

SEC. 608. (a) There are authorized to be appropriated to the corpo- Appropriation ration to carry out this title not to exceed $12,500,000 for fiscal year authorization. 42 USC 8107. 1979. (b) Funds appropriated pursuant to this section shall remain available until expended. (c) Non-Federal funds received by the corporation, and funds received by any recipient from a source other than the corporation, shall be accounted for and reported as receipts and disbursements separate and distinct from Federal funds. (d) The corporation shall prepare annually a business-type budget Annual budget which shall be submitted to the Office of Management and Budget, submittal. under such rules and regulations as the President may establish as to the date of submission, the form and content, the classifications of data, and the manner in which such budget program shall be prepared and presented. The budget of the corporation as modified, amended, Transmittal to or revised by the President shall be transmitted to the Congress as a Congress. part of the annual budget required by the Budget and Accounting Act, 1921. Amendments to the annual budget program may be sub- 31 USC l. mitted from time to time. TITLE VII—NEIGHBORHOOD S E L F - H E L P DEVELOPMENT SHORT TITLE

Neighborhood Self-Help Development Act of 1978.

SEC. 701. This title may be cited as the "Neighborhood Self-Help 42 USC 8121 Development Act of 1978". note. FINDINGS AND PURPOSE

SEC. 702. (a) The Congress finds and declares that— (1) existing urban neighborhoods are a national resource to be conserved and revitalized wherever possible, and that public policy should promote governmental and private programs and activities that further that objective; (2) to be effective, neighborhood conservation and revitalization efforts must involve the fullest possible support and participation of those most directly affected at the neighborhood levels; and (3) an effective way to obtain such support and participation at the neighborhood level is through neighborhood organizations accountable to residents of a particular neighborhood with a demonstrable capacity for developing, assessing, and carrying out projects for neighborhood conservation and revitalization. (b) Therefore, the purposes of this title are (1) to provide grants and other forms of assistance to qualified neighborhood organizations to undertake specific housing, economic or community development, and other appropriate neighborhood conservation and revitalization projects in low- and moderate-income neighborhoods, which are in need of preservation and revitalization, and (2) in the process of pro-

42 USC 8121.

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