 
                   CHAPTER 48--DEPARTMENT OF EDUCATION
 
                SUBCHAPTER IV--ADMINISTRATIVE PROVISIONS
 
                Part B--General Administrative Provisions
 
Sec. 3483. Working capital fund


(a) Establishment; administrative services included

    The Secretary, with the approval of the Director of the Office of 
Management and Budget, is authorized to establish for the Department a 
working capital fund, to be available without fiscal year limitation, 
for expenses necessary for the maintenance and operation of such common 
administrative services as the Secretary shall find to be desirable in 
the interests of economy and efficiency, including such services as--
        (1) a central supply service for stationery and other supplies 
    and equipment for which adequate stocks may be maintained to meet in 
    whole or in part the requirements of the Department and its 
    components;
        (2) central messenger, mail, telephone, and other communications 
    services;
        (3) office space, central services for document reproduction, 
    and for graphics and visual aids; and
        (4) a central library service.

(b) Capital; reimbursement of funds; credit; miscellaneous receipts; 
        transfers

    The capital of the fund shall consist of any appropriations made for 
the purpose of providing working capital and the fair and reasonable 
value of such stocks of supplies, equipment, and other assets and 
inventories on order as the Secretary may transfer to the fund, less the 
related liabilities and unpaid obligations. Such funds shall be 
reimbursed in advance from available funds of agencies and offices in 
the Department, or from other sources, for supplies and services at 
rates that will approximate the expense of operation, including the 
accrual of annual leave and the depreciation of equipment. The fund 
shall also be credited with receipts from sale or exchange of property 
and receipts in payment for loss or damage to property owned by the 
fund. There shall be covered into the Treasury as miscellaneous receipts 
any surplus of the fund (all assets, liabilities, and prior losses 
considered) above the amounts transferred or appropriated to establish 
and maintain such fund. There shall be transferred to the fund the 
stocks of supplies, equipment, other assets, liabilities, and unpaid 
obligations relating to the services which the Secretary determines, 
with the approval of the Director of the Office of Management and 
Budget, will be performed.

(Pub. L. 96-88, title IV, Sec. 423, Oct. 17, 1979, 93 Stat. 687.)
