Corporations

Corporations The following corporations and agencies, respectively, are hereby authorized to make such expenditures, within the limits of funds and borrowing authority available to each such corporation or agency and in accord with law, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 104 of the Government Corporation Control Act, as amended, as may be necessary in carrying out the programs set forth in the Budget for the fiscal year 1957 for each such corporation or agency, except as hereinafter provided: federal facilities corporation fund Not to exceed $250,000 shall be available during the fiscal year 1957 for all administrative expenses of the Corporation (including use of the services and facilities of Federal Reserve banks), to be computed on an accrual basis, and to be exclusive of interest paid, depreciation, capitalized expenditures, expenses in connection with the acquisition, protection, operation, maintenance, improvement, or disposition of real or personal property belonging to the Corporation or in which it has an interest, expenses of services performed on a contract or fee basis in connection with the performance of legal services, and all administrative expenses reimbursable from other Government agencies. liquidation of reconstruction finance corporation Not to exceed $1,060,000 (to be computed on an accrual basis) of the funds derived from Reconstruction Finance Corporation activities (except those conducted under section 409 of the Federal Civil Defense Act of 1950), shall be available during the current fiscal year for administrative expenses incident to the liquidation of said Corporation, including use of the services and facilities of the Federal Reserve banks: Provided, That as used herein the term “administrative expenses” shall be construed to include all salaries and wages, services performed on a contract or fee basis, and travel and other expenses, including the purchase of equipment and supplies, of administrative offices: Provided further, That the limiting amount heretofore stated for administrative expenses shall be increased by an amount which does not exceed the aggregate cost of salaries, wages, travel, and other expenses of persons employed outside the continental United States; the expenses of services performed on a contract or fee basis in connection with the termination of contracts or in the performance of legal services, and all administrative expenses reimbursable from other Government agencies: Provided further, That the distribution 70 Stat. 96 of administrative expenses to the accounts of the Corporation shall be made in accordance with generally recognized accounting principles and practices.