Section 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.33 FR 8586, June 12, 1968