“ A report containing the results of each such independent audit shall be included in the annual report required by subsection (b) (3) . (e) Availability of Amounts.— Except as provided in subsection (c) , all amounts included in the National Service Trust under paragraphs (1) , (2) , and (3) of section 145 (a) of the National and Community Service Act of 1990 (42 U.S.C. 12601 (a) ) shall be available for payments of national service educational awards under section 148 of that Act (42 U.S.C. 12604) . ”

“ Obligation.— The Corporation shall not obligate the funds in the reserve account until the Corporation— (A) determines that the funds will not be needed for the payment of national service educational awards associated with previously approved national service positions ”