This is the largest amount that Congress has appropriated to the board, according to a Congressional Research Service report.
Since 2009, appropriations for the oversight panel have ranged from $900,000 to $1.5 million.
The board asked for the $3.1 million in its semi-annual report to Congress in June.
The report, which outlined the board’s activities dating back to when it first became fully operational in March of this year, said 2014 would be “a critical year” for the group.
Next year “will be the first full fiscal year in which the Board anticipates with a full developed agenda” and has a chairman, the report said.
The $3.1 million “covers the salaries and related costs necessary to support a small staff needed to maintain an efficient level of operations,” including “Board member compensation, limited other personnel, facilities lease, administrative services, security and information technology,” the board wrote.