Page 15 TITLE 31—MONEY AND FINANCE § 324

§ 322. Working capital fund

(a) The Department of the Treasury has a

working capital fund. Amounts in the fund are

available for expenses of operating and maintaining common administrative services of the

Department that the Secretary of the Treasury,

with the approval of the Director of the Office of

Management and Budget, decides may be carried

out more advantageously and more economically as central services.

(b) Amounts in the fund remain available until

expended. Amounts may be appropriated to the

fund.

(c) The fund consists of—

(1) amounts appropriated to the fund;

(2) to the extent transferred to the fund by

the Secretary, the reasonable value of supply

inventories, equipment, and other assets and

inventories on order for providing services out

of amounts in the fund, less related liabilities

and unpaid obligations;

(3) amounts received from the sale or exchange of property; and

(4) payments received for loss or damage to

property of the fund.

(d) The fund shall be reimbursed, or credited

with advance payments, from amounts available

to the Department or from other sources, for

supplies and services at rates that will equal the

expenses of operation, including accrual of annual leave and the depreciation of plant and

equipment. Amounts the Secretary decides are

in excess of the needs of the fund shall be deposited at the end of each fiscal year in the Treasury as miscellaneous receipts.

(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 881; Pub.

L. 98–369, div. A, title IV, §442, July 18, 1984, 98

Stat. 816.)

HISTORICAL AND REVISION NOTES

Revised

Section Source (U.S. Code) Source (Statutes at Large)

322(a) ...... 31:1033(1st sentence

less words between 1st and 3d

commas, 2d sentence 1st–9th

words).

Dec. 31, 1970, Pub. L. 91–614,

§401, 84 Stat. 1846.

322(b) ...... 31:1033(1st sentence

words between 1st

and 3d commas,

last sentence).

322(c) ...... 31:1033(2d sentence

less 1st–9th words,

4th sentence).

322(d) ...... 31:1033(3d, 5th sentences).

In subsection (a), the words ‘‘Amounts in the fund are

available’’ are added because of the restatement.

In subsection (b), the words ‘‘Amounts in the fund remain available until expended’’ are substituted for

‘‘shall be available, without fiscal year limitation’’ for

consistency in the revised title.

In subsection (c)(1), the words ‘‘amounts appropriated

to the fund’’ are substituted for ‘‘any appropriations

made for the purpose of providing capital’’ to eliminate

unnecessary words. In clause (2), the word ‘‘reasonable’’

is substituted for ‘‘fair and reasonable’’ because it is inclusive.

In subsection (d), the words ‘‘other Federal agencies’’

are omitted because they are included in ‘‘other

sources’’.

AMENDMENTS

1984—Subsec. (a). Pub. L. 98–369 struck out provision

placing a $1,000,000 limitation on fund.

§ 323. Investment of operating cash

(a) To manage United States cash, the Secretary of the Treasury may invest any part of

the operating cash of the Treasury for not more

than 90 days. Investments may be made in obligations of—

(1) depositaries maintaining Treasury tax

and loan accounts secured by pledged collateral acceptable to the Secretary; and

(2) the United States Government.

(b) Subsection (a) of this section does not—

(1) require the Secretary to invest a cash

balance held in a particular account; or

(2) permit the Secretary to require the sale

of obligations by a particular person, dealer,

or financial institution.

(c) The Secretary shall consider the prevailing

market in prescribing rates of interest for investments under subsection (a)(1) of this section.

(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 882.)

HISTORICAL AND REVISION NOTES

Revised

Section Source (U.S. Code) Source (Statutes at Large)

323(a) ...... 31:1038(1st sentence

less 1st, 2d provisos).

Oct. 28, 1977, Pub. L. 95–147,

§1, 91 Stat. 1227.

323(b) ...... 31:1038(1st, 2d provisos).

323(c) ...... 31:1038(last sentence).

In subsection (a), before clause (1), the words ‘‘To

manage United States cash’’ are substituted for ‘‘for

cash management purposes’’ for clarity. In clause (1),

the words ‘‘as security for tax and loan accounts’’ are

omitted as unnecessary. In clause (2), the words ‘‘agencies of the United States’’ are omitted as being included in ‘‘the Government’’.

In subsection (c), the words ‘‘Investments in obligations of depositaries maintaining such accounts’’ and

‘‘rates of interest’’ (the 2d time they appear) are omitted as unnecessary because of the restatement.

§ 324. Disposing and extending the maturity of

obligations

(a) The Secretary of the Treasury may—

(1) dispose of obligations—

(A) acquired by the Secretary for the

United States Government; or

(B) delivered by an executive agency; and

(2) make arrangements to extend the maturity of those obligations.

(b) The Secretary may dispose or extend the

maturity of obligations under subsection (a) of

this section in the way, in amounts, at prices

(for cash, obligations, property, or a combination of cash, obligations, or property), and on

conditions the Secretary considers advisable and

in the public interest.

(c) The authority under this section is in addition to authority under another law.

(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 882; Pub.

L. 98–369, div. A, title IV, §444, July 18, 1984, 98

Stat. 816.)

HISTORICAL AND REVISION NOTES

Revised

Section Source (U.S. Code) Source (Statutes at Large)

324(a) ...... 31:741a(a)(1st sentence words before 9th comma).

Apr. 3, 1945, ch. 51, §5, 59 Stat.

48.