Expired Funds Control Act of 1990

Expired Funds Control Act of 1990 - Amends Federal law to replace current provisions governing the closing of appropriation accounts.

Declares that on September 30th of the fifth fiscal year after the period of availability of an appropriation account available for obligation for a definite period ends, the account is closed and any remaining balance is rescinded and shall not be available for obligation or expenditure for any purpose. Provides that collections authorized to be credited to an appropriation, but not received before closing of an account, shall be deposited in the Treasury as miscellaneous receipts.

Provides that after the end of the period of availability of an appropriation account available for a definite period and prior to its closing, the account shall remain available for recording, adjusting, and liquidating obligations chargeable to such account.

Provides that after closing of an account, obligations and adjustments to obligations that would have been chargeable to it may be charged to current appropriations of the agency available for the same purpose. Limits such charges to one percent of the total appropriations for that current account.

Declares that any audit, control, or reporting requirements shall remain applicable to an account after the end of the period of its availability.

Prohibits any obligation of funds in an appropriation account where the availability period has ended that exceeds $4,000,000 or would cause a total program amount to exceed $25,000,000, until 15 days after the agency head has notified appropriate congressional committees, including the Appropriations Committees, of the intent to obligate such funds, together with the legal basis of and necessity for the obligation.

Requires the closing of an appropriation account available for an indefinite period: (1) when the head of the agency concerned decides that the purposes of the appropriation have been carried out; and (2) when no disbursement is made against such appropriation for two consecutive fiscal years.

Requires the Secretary of each executive department whose merged account balances exceed $5,000,000,000 to provide for an audit of each such account of the department (known as an "M" account) and to report to the Congress on such audit. Requires the Comptroller General to review each such audit and report to the Congress with findings, conclusions, and recommendations.