Foreign Currency Fluctuations, Defense

Foreign Currency Fluctuations, Defense For transfer by the Secretary of Defense to or from appropriations available for military functions of the Department of Defense for fiscal year 1979, or thereafter, for the expenses of military personnel or operation and maintenance, in order to maintain the budgeted level of operations for such appropriations and thereby eliminate substantial gains and losses to such appropriations caused by fluctuations in foreign currency exchange rates that vary substantially from those used in preparing budget submissions; $500,000,000, to remain available until expended: Provided, That funds transferred from this appropriation shall be merged with and be available for the same purpose, and for the same time period, as the appropriation to which transferred, and funds transferred to this appropriation shall be merged with, and be available for the purpose of this appropriation until expended: Provided further, That transfers may be made from time to time from this appropriation to the extent the Secretary of Defense determines it may be necessary to do so to reflect downward fluctuations in the currency exchange rates from those used in preparing the budget submissions for such appropriations, but transfers shall be made from such appropriations to this appropriation to reflect upward fluctuations in currency exchange rates to prevent substantial net gains in such appropriations: Provided further, That restrictions contained within appropriations or other provisions of law limiting the amounts that may be obligated or expended for rentals, construction, or other services or supplies are hereby increased to the extent necessary to reflect downward fluctuations in currency exchange rates from those used in preparing the applicable budget submission: Provided further, That contracts or other obligations entered into payable in foreign currencies may be recorded as obligations based on the currency exchange rates used in preparing budget submissions, and adjustments to reflect fluctuations to currency exchange rates may be recorded as disbursements are made: Provided 92 STAT. 1237 further, That the Secretary of Defense shall provide an annual report to the Congress on all transfers made to or from this appropriation.