Page:United States Statutes at Large Volume 96 Part 1.djvu/1002

 96 STAT. 960

Report to Congress.

PUBLIC LAW 97-258—SEPT. 13, 1982 (A) preparing and supporting the budget requests of the agency; (B) controlling the carrying out of the agency budget; and (C) providing financial information the President requires under section 1104(e) of this title; and (5) suitable integration of the accounting of the agency with the central accounting and reporting responsibilities of the Secretary of the Treasury under section 3513 of this title. (b) To assist in preparing a cost-based budget under section 1108(b) of this title and consistent with principles and standards the Comptroller General prescribes, the head of each executive agency shall maintain the accounts of the agency on an accrual basis to show the resources, liabilities, and costs of operations of the agency. An accounting system under this subsection shall include monetary property accounting records. (c) The Comptroller General shall— (1) cooperate with the head of each executive agency in developing an accounting system for the agency; and (2) approve the system when the Comptroller General considers it to be adequate and in conformity with the principles, standards, and requirements prescribed under section 3511 of this title. (d) The Comptroller General shall review the accounting systems of each executive agency. The results of a review shall be available to the head of the executive agency, the Secretary, and the President. The Comptroller General shall report to Congress on a review when the Comptroller General considers it proper. § 3513. Financial reporting and accounting system (a) The Secretary of the Treasury shall prepare reports that will inform the President, Congress, and the public on the financial operations of the United States Government. The reports shall include financial information the President requires. The head of each executive agency shall give the Secretary reports and information on the financial conditions and operations of the agency the Secretary requires to prepare the reports. (b) The Secretary may— (1) establish facilities necessary to prepare the reports; and (2) reorganize the accounting functions and procedures and financial reports of the Department of the Treasury to develop an effective and coordinated system of accounting and financial reporting in the Department that will integrate the accounting results for the Department and be the operating center for consolidating accounting results of other executive agencies with accounting results of the Department. (c) The Comptroller General shall— (1) cooperate with the Secretary in developing and establishing the reporting and accounting system under this section; and (2) approve the system when the Comptroller General considers it to be adequate and in conformity with the principles, standards, and requirements prescribed under section 3511 of this title. § 3514. Discontinuing certain accounts maintained by the Comptroller General The Comptroller General may discontinue an agency appropriation, expenditure, limitation, receipt, or personal ledger account

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