SIP Trust Revolving Fund

What this funds

For FY 2027, NMFS estimates obligating $21,462 in receipts and fees assessed to users of the Seafood Inspection Program. To cover expenses related to the delivery of inspection, auditing, and certification services of the Seafood Inspection Program (SIP) from fees assessed to program participants. The SIP is a fee-for-service program within the National Marine Fisheries Service authorized under the Agricultural Marketing Act of 1946 (7 USC Section 1622(h)). It provides inspection and auditing services to domestic seafood processors and distributors in order to provide health and catch certification for export of fish and fishery products to foreign countries, ensure compliance with food safety regulations, evaluate product quality and grading, and evaluate facility and systems compliance. SIP provides services to companies that export seafood and supply military, school lunch, and other Federal programs as well as consumer markets. The purpose of the trust revolving fund is to provide a repository to credit receipts and collections from fees assessed to users of the SIP which are used to cover the cost of services provided. NOAA is authorized to assess, collect, and retain fees under the program. Fees are set with the goal of full cost recovery and the receipts and collections credited to the trust revolving fund are used to offset the total cost of operating the program. Expenses funded through this source include salary and benefits, travel, operation and maintenance of core business applications, rent,

Extracted from National Oceanic and Atmospheric Administration, p. 409. Verbatim; nothing here is paraphrased.

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