The Institute shall monitor and evaluate and provide for independent evaluation if necessary of programs supported in whole or in part under this chapter to ensure that the provisions of this chapter and the bylaws, rules, regulations, and guidelines promulgated pursuant to this chapter are adhered to.
(b) Suspension procedures
The Institute shall prescribe procedures to ensure that grants, contracts, and financial support under this chapter are not suspended unless the grantee, contractor, or person or entity receiving financial support has been given reasonable notice and opportunity to show cause why the action should not be taken.
(c) Selection considerations
In selecting persons to participate in Institute activities, the Institute may consider a person’s practical experience or equivalency in peace study and activity as well as other formal requirements.
(d) Accounts of receipts and disbursements; financial reports
The Institute shall keep correct and complete books and records of account, including separate and distinct accounts of receipts and disbursements of Federal funds. The Institute’s annual financial report shall identify the use of such funding and shall present a clear description of the full financial situation of the Institute.
(e) Minutes of proceedings
The Institute shall keep minutes of the proceedings of its Board and of any committees having authority under the Board.
(f) Record and inspection of required items
The Institute shall keep a record of the names and addresses of its Board members; copies of this chapter, of any other Acts relating to the Institute, and of all Institute bylaws, rules, regulations, and guidelines; required minutes of proceedings; a record of all applications and proposals and issued or received contracts and grants; and financial records of the Institute. All items required by this subsection may be inspected by any Board member or the member’s agent or attorney for any proper purpose at any reasonable time.
The accounts of the Institute shall be audited annually in accordance with generally accepted auditing standards by independent certified public accountants or independent licensed public accountants, certified or licensed by a regulatory authority of a State or other political subdivision of the United States. The audit shall be conducted at the place or places where the accounts of the Institute are normally kept. All books, accounts, financial records, files, and other papers, things, and property belonging to or in use by the Institute and necessary to facilitate the audit shall be made available to the person or persons conducting the audit, and full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians shall be afforded to such person or persons.
(h) Report of audit to Congress; copies for public
The Institute shall provide a report of the audit to the President and to each House of Congress no later than six months following the close of the fiscal year for which the audit is made. The report shall set forth the scope of the audit and include such statements, together with the independent auditor’s opinion of those statements, as are necessary to present fairly the Institute’s assets and liabilities, surplus or deficit, with reasonable detail, including a statement of the Institute’s income and expenses during the year, including a schedule of all contracts and grants requiring payments in excess of $5,000 and any payments of compensation, salaries, or fees at a rate in excess of $5,000 per year. The report shall be produced in sufficient copies for the public.
(i) Freedom of information provisions applicable
The Institute and its directors, officers, employees, and agents shall be subject to the provisions of section
552 of title
5 (relating to freedom of information).
2003—Subsec. (g). Pub. L. 108–7struck out “on or before December 31, 1970” after “political subdivision of the United States”.
Termination of Reporting Requirements
For termination, effective May 15, 2000, of provisions in subsec. (h) of this section relating to providing a report of the audit to each House of Congress, see section 3003 ofPub. L. 104–66, as amended, set out as a note under section
1113 of Title
31, Money and Finance, and page 207 of House Document No. 103–7.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Statutes at Large
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