
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 31USC331]

 
                       TITLE 31--MONEY AND FINANCE
 
                           SUBTITLE I--GENERAL
 
                  CHAPTER 3--DEPARTMENT OF THE TREASURY
 
                      SUBCHAPTER II--ADMINISTRATIVE
 
Sec. 331. Reports

    (a) The Secretary of the Treasury shall submit to Congress each year 
an annual report. The report shall include--
        (1) a statement of the public receipts and public expenditures 
    for the prior fiscal year;
        (2) estimates of public receipts and public expenditures for the 
    current and next fiscal years;
        (3) plans for improving and increasing public receipts to 
    provide Congress with information on ways to raise amounts necessary 
    to meet public expenditures;
        (4) a statement of all contracts for supplies or services made 
    by the Secretary during the prior fiscal year;
        (5) a statement of appropriations expended to pay for 
    miscellaneous claims not otherwise provided for;
        (6) a statement on all payments made from the fund under section 
    3126 of this title for the prior fiscal year; and
        (7) estimates of amounts for payment under section 1322(b) of 
    this title.

    (b)(1) On the first day of each regular session of Congress, the 
Secretary shall submit to Congress a report for the prior fiscal year 
on--
        (A) the total and individual amounts of contingent liabilities 
    and unfunded liabilities of the United States Government;
        (B) as far as practicable, trust fund liabilities, liabilities 
    of Government corporations, indirect liabilities not included as a 
    part of the public debt, and liabilities of insurance and annuity 
    programs (including their actuarial status);
        (C) collateral pledged and assets available (or to be realized) 
    as security for the liabilities (separately noting Government 
    obligations) and other assets specifically available to liquidate 
    the liabilities of the Government; and
        (D) the total amount in each category under clauses (A)-(C) of 
    this paragraph for each agency.

    (2) The report shall present the information required under 
paragraph (1) of this subsection in a concise way, with explanatory 
material (including an analysis of the significance of liabilities based 
on past experience and probable risk) the Secretary considers desirable.
    (c) On the first day of each regular session of Congress, the 
Secretary shall submit to Congress a report for the prior fiscal year on 
the total amount of public receipts and public expenditures listing 
receipts, when practicable, by ports, districts, and States and the 
expenditures by each appropriation.
    (d) The Secretary shall report to either House of Congress in person 
or in writing, as required, on matters referred to the Secretary by that 
House of Congress.
    (e)(1) Not later than March 31 of 1998 and each year thereafter, the 
Secretary of the Treasury, in coordination with the Director of the 
Office of Management and Budget, shall annually prepare and submit to 
the President and the Congress an audited financial statement for the 
preceding fiscal year, covering all accounts and associated activities 
of the executive branch of the United States Government. The financial 
statement shall reflect the overall financial position, including assets 
and liabilities, and results of operations of the executive branch of 
the United States Government, and shall be prepared in accordance with 
the form and content requirements set forth by the Director of the 
Office of Management and Budget.
    (2) The Comptroller General of the United States shall audit the 
financial statement required by this section.

(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 884; Pub. L. 103-356, title 
IV, Sec. 405(c), Oct. 13, 1994, 108 Stat. 3416.)

                                          Historical and Revision Notes
-------------------------------------------------------------------------------
---------------------------------
           Revised Section                    Source (U.S. Code                
Source (Statutes at Large)
-------------------------------------------------------------------------------
---------------------------------
331(a)(1)- (5).......................  31:1027.                        R.S. Sec
.  257.
                                       31:1030.                        Feb. 26,
 1907, ch. 1635, Sec.  1(2d par.
                                                                        under h
eading ``Treasury Department''),
                                                                        34 Stat
. 949.
331(a)(6)............................  31:757c(i)(last sentence).      Sept. 24
, 1917, ch. 56, 40 Stat. 288,
                                                                        Sec.  2
2(i)(last sentence); added Apr.
                                                                        11, 194
3, ch. 52, Sec.  3, 57 Stat. 63;
                                                                        restate
d Apr. 3, 1945, ch. 51, Sec.  3,
                                                                        59 Stat
. 48.
331(a)(7)............................  31:725p(a)(last sentence).      June 26,
 1934, ch. 756, Secs.  17(a)(last
                                                                        sentenc
e), 18(a)(last sentence), 48
                                                                        Stat. 1
230, 1231.
                                       31:725q(a)(last sentence).
331(b)...............................  31:757f.                        Nov. 13,
 1966, Pub. L. 89-809, Sec.  402,
                                                                        80 Stat
. 1590; Apr. 21, 1976, Pub. L. 94-
                                                                        273, Se
c.  2(17), 90 Stat. 375.
331(c)...............................  31:1029.                        July 31,
 1894, ch. 174, Sec.  15, 28
                                                                        Stat. 2
10.
331(d)...............................  31:1002(words between 4th and   R.S. Sec
.  248(words between 4th and 5th
                                        5th semicolons)                 semicol
ons).
-------------------------------------------------------------------------------
---------------------------------

    In subsections (a) and (c), the word ``receipts'' is substituted for 
``revenues'' for consistency in the section and the revised title.
    In subsection (a)(1), the words ``public receipts and public 
expenditures'' are substituted for ``receipts and expenditures of the 
Government'' in 31:1030 for consistency in the section. The word 
``completed'' is omitted as surplus. In clause (2), the words ``First. A 
report on the subject of finance'' in 31:1027 are omitted because of the 
restatement. The word ``containing'' is omitted as surplus. In clause 
(4), the words ``Second. A report containing'' are omitted because of 
the restatement. The words ``prior fiscal year'' are substituted for 
``during the year preceding'' for consistency. In clause (5), the words 
``paid at the Treasury'' are omitted as unnecessary. The 3d paragraph of 
section 257 of the Revised Statutes, providing for a report on rules and 
regulations of the Secretary of the Treasury on imported goods, wares, 
and merchandise, is omitted as obsolete because section 252 of the 
Revised Statutes, authorizing those rules and regulations, was repealed 
by the Act of February 27, 1877 (ch. 69, 19 Stat. 241). The 4th 
paragraph of section 257, providing for a report on amounts of hospital 
taxes collected from sick and disabled seamen, is omitted as obsolete 
because section 15 of the Act of June 26, 1884 (ch. 121, 23 Stat. 57), 
repealed the tax. In clause (7), the words ``the Commissioners of the 
District of Columbia'' (subsequently changed to ``the Mayor of the 
District of Columbia'' by section 422 of the District of Columbia Self-
Government and Governmental Reorganization Act (Pub. L. 93-198, 87 Stat. 
790)) in 31:725p are omitted as unnecessary because of Sec. 448 of the 
District of Columbia Self-Government and Governmental Reorganization 
Act. The text of 31:725q(proviso) is omitted because of the restatement.
    In subsection (b)(1), before clause (A), the words ``for the prior 
fiscal year'' are substituted for ``as of the close of the preceding 
September 30 (beginning with the report as of June 30, 1967)'' to 
eliminate unnecessary words. In clause (C), the word ``obligations'' is 
substituted for ``securities'' for consistency in the revised title. 
Clause (D) is substituted for ``and of each department, agency, and 
instrumentality thereof'' for clarity.
    In subsection (c), the words ``a report for the prior fiscal year on 
the total amount of public receipts and public expenditures'' are 
substituted for ``an accurate combined statement of the receipts and 
expenditures during the last preceding fiscal year of all public 
moneys'' because of the restatement. The words ``including those of the 
United States Postal Service'' are omitted as unnecessary and superseded 
by 39:410.
    In subsection (d), the words ``either House of Congress'' are 
substituted for ``either branch of the legislature'' for clarity and 
consistency. The words ``that House of Congress'' are substituted for 
``the Senate or House of Representatives'' for consistency and because 
of the restatement. The words ``or which appertain to his office'' are 
omitted as unnecessary because of subsections (a)-(c) of the section.


                               Amendments

    1994--Subsec. (e). Pub. L. 103-356 added subsec. (e).


                  Termination of Reporting Requirements

    For termination, effective May 15, 2000, of provisions of law 
requiring submittal to Congress of any annual, semiannual, or other 
regular periodic report listed in House Document No. 103-7 (in which 
certain reporting requirements under subsecs. (a), (b)(1)(A), and (c) of 
this section are listed on pages 140 and 142), see section 3003 of Pub. 
L. 104-66, as amended, and section 1(a)(4) [div. A, Sec. 1402(1)] of 
Pub. L. 106-554, set out as notes under section 1113 of this title.
