((a)) ** Definition of balance sheet** In this section, the term “balance sheet” means a document that describes—

((1)) the funds provided by each Federal and non-Federal interest for a water resources development project; and

((2)) the status of those funds.

((b)) ** Establishment of balance sheet** Each district of the Corps of Engineers shall, using the authority of the Secretary under —

((1)) maintain a balance sheet for each water resources development project carried out by the Secretary for which a non-Federal cost share is required; and

((2)) on request of a non-Federal interest that provided funds for the project, provide to the non-Federal interest a copy of the balance sheet.

((c)) ** Under-budget projects** In the case of a water resources development project carried out by the Secretary that is completed at a cost less than the estimated cost, the Secretary shall transfer any excess non-Federal funds to the non-Federal interest in accordance with the cost-share requirement applicable to the project.