Page:United States Statutes at Large Volume 96 Part 1.djvu/1086

 96 STAT. 1044

PUBLIC LAW 97-258—SEPT. 13, 1982

see Valley Authority under section 9(b) of the Tennessee Valley Authority Act of 1933 (16 U.S.C. 831h(b)). (e) The Comptroller General shall pay the cost of an audit under this section. A Government corporation shall reimburse the Comptroller General for the cost of the audit as determined by the Comptroller General. The Comptroller General shall deposit the reimbursement in the Treasury as miscellaneous receipts. Except as expressly provided by law, a Government corporation may not pay the cost of a private audit of the financial records of the corporation. (f) An audit under subsection (a) of this section is in place of an audit of the financial transactions of a Government corporation the Comptroller General is required to make in reporting to Congress or the President under another law. (g) Necessary amounts are authorized to be appropriated to the Comptroller General to carry out this section. §9106. Audit reports (a) The Comptroller General shall submit to Congress a report on each audit of a Government corporation under section 9105 of this title not later than 6.5 months after the end of the last year covered by the audit. The report shall state the scope of the audit and include— (1) a statement (showing intercorporate relations) of assets, liabilities, capital, and surplus or deficit; (2) a statement of surplus or deficit analysis; (3) a statement of income and expenditures; (4) a statement of sources and the use of money; (5) specifically each financial transaction or undertaking the Comptroller General believes was carried out or made without authority of law; (6) comments and information the C!omptroller General considers necessary to keep Congress informed about the operations and financial condition of the Government corporation, including a statement of impaired capital noticed and recommendations for the return of capital of the United States Government or the payment of dividends the Comptroller General believes should be made; and (7) other recommendations the Comptroller General considers advisable. (b) The Comptroller General shall give the President, the Secretary of the Treasury, and the Government corporation a copy of the report when it is submitted to Congress.

Waiver.

§9107. Accounts (a) With the approval of the Comptroller General, a Government corporation may consolidate its cash into an account if the cash will be expended as provided by law. Cb) The Secretary of the Treasunr shall keep the accounts of a Government corporation. If the Secretary approves, a Federal reserve bank or a bank designated as a depositary or fiscal agent of the United States Government may keep the accounts. The Secretary may waive the requirements of this subsection. (c)(1) Subsection (b) of this section does not apply to maintaining a temporary account of not more than $50,000 in one bank. (2) Subsection (b) of this section does not apply to a mixedownership Government corporation when the corporation has no capital of the Government.

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