2 USC 2234 – Administration of Fund
(a) Disbursements
Disbursements from the Fund may be made by the Architect of the Capitol, upon recommendation of the Chief Executive Officer.
(b) Investment authority
Terms Used In 2 USC 2234
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
The Secretary of the Treasury shall invest any portion of the Fund that, as determined by the Architect of the Capitol, upon recommendation of the Chief Executive Officer, is not required to meet current expenses. Each investment shall be made in an interest-bearing obligation of the United States or an obligation guaranteed both as to principal and interest by the United States that, as determined by the Architect of the Capitol, upon recommendation of the Chief Executive Officer, has a maturity date suitable for the purposes of the Fund. The Secretary of the Treasury shall credit interest earned on the obligations to the Fund.
(c) Audit
The Fund shall be subject to audit by the Comptroller General at the discretion of the Comptroller General.