106 STAT. 1626 PUBLIC LAW 102-390—OCT. 6, 1992 "(iii) an explanation of the specific purposes for which such excess amounts are being retained in the Fund. "(d) BUDGET TREATMENT. — "(1) IN GENERAL. —The Secretary shall prepare budgets for the Fund, and estimates and statements of financial condition of the Fund in accordance with the requirements of section 9103 which shall be submitted to the President for inclusion in the budget submitted under section 1105. "(2) INCLUSION IN ANNUAL REPORT.— Statements of the financial condition of the Fund shall be included in the Secretary's annual report on the operation of the Mint. "(3) TREATMENT AS WHOLLY OWNED GOVERNMENT CORPORA- TION FOR CERTAIN PURPOSES. — Section 9104 shall apply to the Fund to the same extent such section applies to wholly owned Government corporations, "(e) FINANCIAL STATEMENTS, AUDITS, AND REPORTS. — "(1) ANNUAL FINANCIAL STATEMENT REQUIRED.— By the end of each calendar year, the Secretary shall prepare an annual financial statement of the Fund for the fiscal year which ends during such calendar year. "(2) CONTENTS OF FINANCIAL STATEMENT.— Each statement prepared pursuant to paragraph (1) shall, at a minimum, reflect— "(A) the overall financial position (including assets and liabilities) of the Fund as of the end of the fiscal year; "(B) the results of the numismatic operations and programs of the Fund during the fiscal year; "(C) the cash flows or the changes in financial position of the Fund; and "(D) a reconciliation of the financial statement to the budget reports of the Fund. "(3) ANNUAL AUDITS.— "(A) IN GENERAL. —Each annual financial statement prepared under paragraph (1) shall be audited— "(pby— (I) an independent external auditor; or "(II) the Inspector General of the Department of the Treasury, as designated by the Secretary; and "(ii) in accordance with the generally accepted Government auditing standards issued by the Comptroller General of the United States. "(B) AUDITOR'S REPORT REQUIRED.— The auditor designated to audit any financial statement of the Fund pursuant to subparagraph (A) shall submit a report— "(i) to the Secretary by March 31 of the year beginning after the end of the fiscal year covered by such financial statement; and "(ii) containing the auditor's opinion on— "(I) the financial statement of the Fund; "(II) the internal accounting and administrative controls and accounting systems of the Fund; and "(III) the Fund's compliance with applicable laws and regulations. "(4) ANNUAL REPORT ON FUND. —
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