The Governor shall establish and maintain systems of accounting and internal control designed to provide—
(a)full disclosure of the financial results of the government’s activities;
(b)adequate financial information needed for the government’s management purposes;
(c)effective control over and accountability for all funds, property, and other assets for which the government is responsible, including appropriate internal audit; and
(d)reliable accounting results to serve as the basis for preparation and support of the government’s request for the approval of the President or his designated representative for the obligation and expenditure of the internal revenue collections as provided in section
26, the Governor’s budget request to the legislature, and for controlling the execution of the said budget.
26, referred to in subsec. (d), probably means section 26 of S. 3378 (act July 22, 1954, ch. 558, 68 Stat. 497) prior to the submission of S. 3378 to the Conference Committee which redesignated section
26 assection 28 of S. 3378. Said section
28 was composed of subsecs. (a) to (d). Subsecs. (a), (c), and (d) thereof enacted sections
1644 of this title, respectively. Subsec. (b) thereof added subsec. (c) tosection 3350 of former Title 26, Internal Revenue Code. Reference to section 3350(c) of former Title 26 is deemed a reference to section
7652(b)(3) of Title
26, Internal Revenue Code. See section
7852(b) of Title
26, Internal Revenue Code, which provides that any reference in any other law to a provision of the Internal Revenue Code of 1939 be deemed a reference to the corresponding provisions of the Internal Revenue Code of 1986.
Agreement Regarding Financial Accountability and Performance Standards
“(a) In General.—The Secretary of the Interior is authorized to enter into an agreement with the Governor of the Virgin Islands establishing mutually agreed financial accountability and performance standards for the fiscal operations of the Government of the Virgin Islands.
“(b) Transmission to Congress.—Upon ratification of the agreement authorized in subsection (a) by both parties, the Secretary shall forward a copy of the agreement to the Committee on Resources [now Committee on Natural Resources] in the House of Representatives and the Committee on Energy and Natural Resources in the Senate.”
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
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.