Code of Federal Regulations Title 7. Agriculture § 7.920.42 Accounting

(1) If such excess is not retained in a reserve, as provided in paragraph (a)(2) of this section, it shall be refunded proportionately to the persons from whom it was collected:  Provided, That any sum paid by a person in excess of his or her pro rata share of the expenses during any fiscal period may be applied by the committee at the end of such fiscal period to any outstanding obligations due the committee from such person.

(2) The committee, with the approval of the Secretary, may carry over such excess into subsequent fiscal periods as a reserve:  Provided, That funds already in the reserve do not equal approximately one fiscal period's expenses. Such reserve funds may be used:  (i) To defray expenses, during any fiscal period, prior to the time assessment income is insufficient to cover such expenses;  (ii) to cover deficits incurred during any fiscal year when assessment income is less than expenses;  (iii) to defray expenses incurred during any period when any or all provisions of this part are suspended or are inoperative;  and, (iv) 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 shall be disposed of in such manner as the Secretary may determine to be appropriate:  Provided, That to the extent practical, such funds shall be returned pro rata to the persons from whom such funds were collected.