Harry S. Truman Scholarship Foundation--Availability of Trust Fund's Interest and Earnings
B-320543, Nov 12, 2010
The Harry S. Truman Scholarship Foundation may obligate and expend the accumulated interest and earnings in its Scholarship Trust Fund in fiscal years subsequent to the fiscal year in which earned. The Harry S. Truman Memorial Scholarship Act authorizes the Secretary of the Treasury to pay to the Foundation from the interest and earnings of the Fund such sums as the Foundation's Board of Trustees determines are necessary and appropriate to enable the Foundation to carry out its purposes. 20 U.S.C. 2010(a). Nothing in the Act limits the availability of these funds to the fiscal year earned.