38 USC 3734 – Annual submission of information on the Veterans Housing Benefit Program Fund and housing programs
(a) In the documents providing detailed information on the budget for the Department of Veterans Affairs that the Secretary submits to the Congress in conjunction with the President’s budget submission for each fiscal year pursuant to section 1105 of title 31, the Secretary shall include—
(1) a description of the operations of the Veterans Housing Benefit Program Fund during the fiscal year preceding the fiscal year in which such budget is submitted; and
(2) the needs of such fund, if any, for appropriations for—
(A) the fiscal year in which the budget is submitted; and
(B) the fiscal year for which the budget is submitted.
Terms Used In 38 USC 3734
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b) The matters submitted under subsection (a) of this section shall include, with respect to the fund referred to in subsection (a), the following:
(1) Information and financial data on the operations of the fund during the fiscal year before the fiscal year in which such matters are submitted and estimated financial data and related information on the operation of the fund for—
(A) the fiscal year of the submission; and
(B) the fiscal year following the fiscal year of the submission.
(2) Estimates of the amount of revenues derived by the fund in the fiscal year preceding the fiscal year of the submission, in the fiscal year of the submission, and in the fiscal year following the fiscal year of the submission from each of the following sources:
(A) Fees collected under section 3729(a) of this title for each category of loan guaranteed, insured, or made under this chapter or collected under section 3729(b) of this title for assumed loans.
(B) Investment income.
(C) Sales of foreclosed properties.
(D) Loan asset sales.
(E) Each additional source of revenue.
(3) Information, for each fiscal year referred to in paragraph (2) of this subsection, regarding the types of dispositions made and anticipated to be made of defaults on loans guaranteed, insured, or made under this chapter, including the cost to the fund, and the numbers, of such types of dispositions.
(c) The information submitted under subsection (a) shall include a statement that summarizes the financial activity of each of the housing programs operated under this chapter. The statement shall be presented in a form that is simple, concise, and readily understandable, and shall not include references to financing accounts, liquidating accounts, or program accounts.