[Code of Federal Regulations]
[Title 7, Volume 8]
[Revised as of January 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR966.44]

[Page 477-478]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER IX--AGRICULTURAL MARKETING SERVICE (Marketing Agreements and 
      Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF AGRICULTURE
 
PART 966_TOMATOES GROWN IN FLORIDA--Table of Contents
 
                    Subpart_Order Regulating Handling
 
Sec. 966.44  Excess funds.

    (a) If, at the end of a fiscal period, the assessments collected are 
in excess of expenses incurred, such excess shall be accounted for in 
accordance with one of the following:
    (1) If such excess is not retained in a reserve, as provided in 
paragraph (a)(2) of this section, to the extent practical it shall be 
refunded proportionately to the persons from whom it was collected.
    (2) The committee, with the approval of the Secretary, may establish 
an operating monetary reserve and may carry over to subsequent fiscal 
periods excess funds in a reserve so established: Provided, That funds 
in the reserve shall not exceed approximately one fiscal period's 
expenses. Such reserve funds may be used (i) to defray any expenses 
authorized under this part, (ii) to defray expenses during any fiscal 
period prior to the time assessment income is sufficient to cover such 
expenses, (iii) to cover deficits incurred during any fiscal period when 
assessment income is less than expenses, (iv) to defray expenses 
incurred during any period when any or all provisions of this part are 
suspended or are inoperative, and (v) to cover necessary expenses of 
liquidation in the event of termination of this part. Upon such 
termination any funds not required to defray the necessary expenses of 
liquidation, and after reasonable effort by the committee it is found 
impracticable to return such remaining funds to handlers, such funds 
shall be disposed of in such manner as the Secretary may determine to be 
appropriate.

[[Page 478]]

    (b) [Reserved]

[33 FR 8586, June 12, 1968]