Profiles of Existing Government Corporations - US Government ...

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CORPORATION PROFILE
APF'ILIATED AGACWCIES: The Department of Agriculture QaYilClQates
in policymaking through memb@r@hiP On the Board. FOrSlgn
Agricultural Service (FAS) and Agricultural Stabiiiratlon ar.d
Conservation Service (ASCS) utilize the service8 of CCC, uhi*e
providing CCC both personnel and facilltles on a reimbursable
basis. The Ccc's Export Credit Guarantee program 1s admlnlscere?
by the FAS: therefore there iS continuing cooperatron with the
Departments of Commerce and State. Secretaries of the Navy,
AmY, 6 Interior, actrng jointly through the Department of
Defense, determine vhich materials are strategic and critical 4r.r'
the quantity and quality of such materials. CCC's operatrons dre
financed by borrowing from the Treasury. Office of Vanaqement
and Budget (OMB), U.S. Department of AgriCUltUrS’S Office of
Inspector General, and the General Accountinq Office monitor the
monetary affairs of the Corporation.
EODGET STATUS: On-budg8t and subject to the Government
Corporation Control Act (GCCA). Annual bu@ine@@-type budget sent
to the PrOSident must Contain the 88timated financial condition
for the curr8nt and following fiscal years and the results of
operations for the prior fiscal year. It shall also contain
statement8 of financial condition, income and expense, sources
and us00 of money, and an analy@iS of surplus or deficit and
other reports am n88dSd. The budget shall also provide for
emergancies and contingencies.
T'RJZUURY STATUS: Subject to the GCCA. Account8 are to be
maintained in the Tr8aSUL-y or its deSigne8, unlas8 the
reqUir@ment i0 VaiVSd by SSCrStary Of the Treasury. The
reguir8m8nt is not applicable to temporary account8 of not more
than S50,OOO in any one bank. The TrSaSUIy Shall prescribe the
terms of obligation8 offered to the public. TreaSUKy approval is
r*guir*d,
UnlSSS waived, for tran8action8 over $100,000 for U.S.
gov8rnm8nt ObligatiOn8 or gu8rlrntSmd ObligatiOnS. If the agency
agr@ea, the Treasury may d818gat8 the ra8pon8ibil~ty regarding
Obligation8 to an agency officer or employee.
pkWRTING STATUS: CCC shall submit an anINa bu@ine@@ report to
th8 S8CretaX-y of AgriCultUrS for transmission to the President
and the Congress.
LITIGATION STATUS: While the CCC can be SUSd in it8 own name,
litigation i8 handled by the Department of Justice under 28
U.S.C. 516. Although CCC may sue and be sued, no attachment,
injunction, garnishm8nt, or other similar proc888, intervening or
final, Shall ba i88USd against the Corporation or its property.
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