[Analytical Perspectives]
[Other Technical Presentations]
[16. Trust Funds and Federal Funds]
[From the U.S. Government Printing Office, www.gpo.gov]
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OTHER TECHNICAL PRESENTATIONS
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16. TRUST FUNDS AND FEDERAL FUNDS
The budget consists of two major groups of funds: Federal funds and
trust funds. This section presents summary information about the
transactions of each fund group and of the major trust funds. It also
discusses the relationship between the trust funds surplus and the
Federal deficit, and the meaning of the large and growing trust funds
balance. Information about the income and outgo of 4 Federal funds that
are financed by earmarked collections similar to trust funds is also
provided.
Federal Funds Group
The Federal funds group comprises the larger part of the budget. It
includes all transactions not classified by law as being in trust funds.
The main component of the Federal funds group is the general fund,
which is used to carry out the general purposes of Government rather
than being restricted by law to a specific program. It consists of all
collections not earmarked by law to finance other funds, including
virtually all income taxes and many excise taxes, and all expenditures
financed by these collections and by general Treasury borrowing.
The Federal funds group also includes special funds and revolving
funds, which are similar to trust funds in that their spending is
financed by earmarked collections. Where the law requires that Federal
fund collections from a specified source be earmarked to finance a
particular program, such as the license fees deposited into the land and
water conservation fund, the collections and associated disbursements
are recorded in special fund receipt and expenditure accounts. The
majority of special fund collections are derived from the Government's
power to impose taxes, fines, and other compulsory payments, and they
must be appropriated before they can be obligated and spent.
Revolving funds conduct continuing cycles of business-like activity.
They charge for the sale of products or services and use the proceeds to
finance their spending. Instead of being deposited in receipt accounts,
their proceeds are recorded as offsets to outlays within the funds'
expenditure accounts, so that outlays are reported net of collections.
These collections generally are available automatically for obligation
and making payments. There are two classes of revolving funds. Public
enterprise funds, such as the Postal Service, conduct business-like
operations mainly with the public. Intragovernmental funds, such as the
Federal Buildings Fund, conduct business-like operations mainly within
and between Government agencies.
Trust Funds Group
The trust funds group consists of funds that are designated by law as
trust funds. They are usually financed by earmarked collections. Many of
the larger trust funds finance social insurance payments for
individuals, such as Social Security, Medicare, and unemployment
compensation. Other major trust funds finance military and Federal
civilian employees' retirement, highway construction, and airport and
airway development. Trust funds also include a few small funds
established to carry out the terms of a conditional gift, bequest, or
court settlement.
Whether or not a particular fund is designated as a trust fund is, in
many cases, arbitrary. Congress has not followed a systematic rule. For
example, the National Service Life Insurance Fund is a trust fund, but
the Servicemen's Group Life Insurance Fund is a Federal fund, even
though both are financed by earmarked fees paid by veterans and both
provide life insurance benefits to veterans.\1\
\1\Another example is the Violent Crime Reduction Trust Fund,
established pursuant to the Violent Crime Control and Law Enforcement
Act of 1994. Because the Fund is substantively a means of accounting for
general fund appropriations, and does not consist of dedicated receipts,
it is classified as a Federal fund rather than a trust fund.
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The Federal budget meaning of the term ``trust'' differs significantly
from its private sector usage. The beneficiary of a private trust owns
the trust's income and often its assets. A custodian manages the assets
on behalf of the beneficiary according to the stipulations of the trust,
which he cannot change unilaterally. In contrast, the Federal Government
owns the assets and earnings of most Federal trust funds, and it can
raise or lower future trust fund collections and payments, or change the
purpose for which the collections are used, by changing existing law.
Only a few small Federal trust funds are managed pursuant to a trust
agreement where the Government is the trustee, and the Government
generally has some ability to determine the amount deposited into or
paid out of the fund. Other funds are held by the Government as a
custodian in deposit funds. The Government makes no decisions about the
amount of these deposits or how they are spent. Therefore, they are not
considered to be Federal trust funds and are excluded from the budget.
A trust fund must use its income for the purposes designated by law.
Some, such as the Federal Employees Health fund, spend their income
almost as quickly as it is collected. Others, such as the Social
Security and the Federal civilian employees retirement trust funds,
currently spend considerably less than they collect each year. A surplus
of income over outgo adds to the trust fund's balance, which is
available to finance future expenditures. The balances are generally
invested, by law, in Treasury debt securities. Any net cash inflow from
the public to the trust funds decreases the Treasury's need to borrow
from the public in order to finance the Federal funds deficit.
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A trust fund normally consist of one or more receipt accounts (to
record income) and an expenditure account (to record outgo). However,
some trust funds are established by law as revolving funds. These funds
are similar to revolving funds in the Federal funds group. They conduct
a cycle of business-type operations, and their outlays are displayed net
of collections in a single expenditure account.
Income and Outgo by Fund Group
Table 16-1 shows income, outgo, and surplus or deficit by fund group
and adds them to derive the total unified budget receipts, outlays, and
surplus or deficit. The estimates assume enactment of the President's
budget proposals. Income consists mostly of governmental receipts
(primarily income, payroll, and excise taxes). It also includes
proprietary receipts (derived from business-like transactions with the
public) and interfund collections (receipts by one fund of payments from
a fund in the other fund group) that are deposited in receipt accounts.
Outgo consists of payments made to the public and or to a fund in the
other fund group.
Two types of transactions are treated specially. First, income and
outgo for a fund group exclude transactions between funds within the
same fund group.\2\ These intrafund transactions constitute outgo and
income for the individual funds that make and collect the payments.
However, because the totals for each fund group measure its transactions
with the public and the other fund group, intrafund transactions must be
subtracted from the sum of the income and outgo of all individual funds
within the fund group to calculate income and outgo for the funds as a
group. Second, income excludes collections that, by law, are offset
against outgo in expenditure accounts instead of being deposited in
receipt accounts.\3\ It would be conceptually appropriate to classify
these collections as income, but at present the data are not tabulated
centrally for both fund groups. Consequently, they are offset against
outgo in Table 16-1.
\2\For example, the railroad retirement trust funds pay the equivalent
of social security benefits to railroad retirees, in addition to the
regular railroad pension. These benefits are financed by a payment from
the Federal Old-Age and Survivors Insurance Trust fund to the railroad
retirement trust funds. The payment and collection are deducted so that
total trust fund income and outgo measure disbursements to the public
and to Federal funds.
\3\For example, postage stamp fees are deposited as offsetting
collections in the Postal Service fund. As a result, the Fund's outgo is
disbursements net of collections.
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Table 16-1. RECEIPTS, OUTLAYS, AND SURPLUS OR DEFICIT BY FUND GROUP
(In billions of dollars)
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Estimate
1995 ----------------------------------------------------------------------------
actual 1996 1997 1998 1999 2000 2001 2002
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Receipts:
Federal funds cash income:
From the public............................................ 866.9 918.2 949.4 1,007.9 1,053.0 1,104.9 1,162.6 1,242.2
From trust funds........................................... 4.0 4.4 4.2 4.2 4.3 4.4 4.5 4.6
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Total, Federal funds cash income....................... 870.9 922.7 953.6 1,012.2 1,057.3 1,109.3 1,167.1 1,246.8
Trust funds cash income:
From the public............................................ 551.5 572.0 606.1 631.8 662.2 694.7 726.5 762.5
From Federal funds:
Interest................................................. 94.8 99.3 102.8 105.2 109.2 115.1 117.9 123.2
Other.................................................... 117.2 141.0 150.0 161.1 171.8 183.2 198.6 214.2
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Total, trust funds cash income......................... 763.5 812.3 858.9 898.1 943.2 993.0 1,042.9 1,099.9
Offsetting receipts.......................................... -279.1 -308.1 -317.3 -332.3 -348.0 -368.6 -390.2 -434.5
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Total, unified budget receipts............................. 1,355.2 1,426.8 1,495.2 1,577.9 1,652.5 1,733.8 1,819.8 1,912.2
Outlays:
Federal funds cash outgo..................................... 1,134.1 1,179.2 1,217.2 1,236.4 1,258.0 1,286.5 1,313.9 1,365.3
Trust funds cash outgo....................................... 664.2 701.4 735.0 771.8 806.9 843.4 887.9 937.6
Offsetting receipts.......................................... -279.1 -308.1 -317.3 -332.3 -348.0 -368.6 -390.2 -434.5
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Total, unified budget outlays.............................. 1,519.1 1,572.4 1,634.9 1,675.9 1,716.9 1,761.4 1,811.6 1,868.4
Surplus or deficit(-):
Federal funds................................................ -263.2 -256.5 -263.5 -224.3 -200.6 -177.2 -146.8 -118.6
Trust funds.................................................. 99.3 110.9 123.9 126.3 136.2 149.6 155.0 162.3
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Total, unified surplus/deficit (-)......................... -163.9 -145.6 -139.7 -98.0 -64.4 -27.5 8.2 43.8
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Receipts includes governmental, interfund, and proprietary receipts. Excludes intrafund receipts, which are offset against intrafund payments so that
cash income and cash outgo are not overstated.
In order to derive unified budget receipts and outlays, the table adds
Federal funds and trust funds income and outgo, respectively, and
subtracts offsetting receipts from each. Offsetting receipts are income
for the fund group that receives them, but instead of being part of
receipts in the unified budget, they are deposited in receipt accounts
and are offset against outgo to calculate unified budget outlays. The
reason for this is two-fold.
The most important information provided by the unified budget is (1)
how much of the Nation's resources are used by the Government, and (2)
how these resources are allocated among the many purposes of Government.
By combining all receipts and spending in one budget, the implicit
tradeoffs between public and private spending, and between Government
programs, become more visible. The hope is that by surfacing these basic
tradeoffs, conflicts over competing demands for the Nation's resources
will be resolved, and the pieces of the budget will add to the desired
total. However, there is no automatic mechanism that forces resolution
of these conflicts. Congress can choose to use the budget to force the
components of the budget to stay within targets for total receipts and
spending, as it has for discretionary programs in the Budget Enforcement
Act of 1990. Or it can allow tax and spending programs to occur
autonomously without regard to what those actions have on other programs
or on the budget totals.
The persistence of unified budget deficits over the past 3\1/2\
decades can be thought of as a financial indicator of the Nation's
failure to resolve conflicting goals. The Nation has simultaneously
desired to (1) increase spending by trust funds without decreasing
spending by Federal funds, (2) hold the total tax burden constant while
increasing taxes earmarked for trust funds, and (3) balance the total
budget. One of these goals had to give. The trends in the totals for the
fund groups and the unified budget tell how the conflict played out.
As shown in Chart 16-2, trust fund outlays to the public as a percent
of GDP increased in every five-year period since 1960, rising from 4.1
percent in the first half of the 1960s to 7.3 percent in the latter half
of the 1970s, and rising even further to 8.7 percent in the first half
of the 1990s.\7\ Over the same period,
[[Page 261]]
Federal fund payments to the public moved up and
down slightly but stayed between 14 and 15 percent
of GDP. The combination of growing trust fund spending and constant
Federal fund spending meant that total spending increased from 19
percent to 23 percent of GDP.
\7\This section focuses on receipts and outlays as they are defined in
the unified budget, instead of income and outgo. The difference is that
proprietary receipts and interfund collections are offset against
outlays in the unified budget, but they are considered income for a fund
group. Since the comparisons over time are based on changes in shares of
GDP, it is better to use receipts and outlays.
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Because the norm has been for trust funds to be in balance, or to
accumulate balances to fund future benefits, trust fund taxes were
increased commensurately with the increase in trust fund outlays. As
shown in Chart 16-3, trust fund receipts as a percent of GDP increased
in every five-year period since 1960, rising from 3.7 percent in the
first half of the 1960s to 6.0 percent in the latter half of the 1970s,
and rising even further to 7.3 percent in the first half of the 1990s.
However, unlike Federal fund outlays, Federal fund receipts did not stay
the same when trust fund receipts rose. The increases in trust fund
receipts were offset by decreases in Federal fund receipts, and total
budget receipts remained constant at 18 to 19 percent of GDP.
What explains the growth in the unified budget deficit, therefore, is
the basic conflict between the goal of expanding and fully funding one
part of Government, and an unwillingness either to allow the total tax
burden to increase or to reduce the rest of Government.\8\ The Nation
wanted to expand trust fund spending, and it said it was willing to
finance that expansion. The latter could only have been accomplished by
increasing the total tax burden or by reducing Federal fund spending. In
fact, neither occurred. Taxes were shifted from Federal funds to trust
funds, and the total tax burden remained the same. Federal fund spending
remained constant, and total spending increased. If Federal fund taxes
had stayed at the levels experienced in the first half of the 1960s,
Federal fund tax receipts would have been much higher over the period,
and the higher receipts plus the associated interest savings would have
been sufficient to avoid most or all of the unified deficits. The same
outcome could have been achieved by reducing Federal fund spending
commensurately with the reduction in Federal fund taxes.
\8\For similar analyses, see The Budget Deficit--Outlook,
Implications, and Choices, General Accounting Office, September 1990,
pp.29-32; and John F. Cogan, ``the Dispersion of Spending Authority and
Federal Budget Deficits,'' in The Budget Puzzle by John F. Cogan,
Timothy J. Muris, and Allen Schick, Stanford University Press, 1994, pp.
39-40.
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In short, the imbalances seen in the fund group and unified budget
totals are symptomatic of the unresolved conflict over the size of
Government and how it is to be financed. Instead of resolving this
conflict, increases in trust fund spending have been ``financed'' at the
expense of financing for Federal funds. In that sense, both fund groups
are responsible for the unified budget deficit.
[[Page 262]]
Income, Outgo, and Balances of Trust Funds
Table 16-2 shows the trust funds balance at the start of each year,
income and outgo during the year, and the end of year balance. Income
and outgo are divided between transactions with the public and
transactions with Federal funds. Receipts from Federal funds are divided
between interest and other interfund receipts.
The definition of income and outgo in this table differs from those in
Table 16-1 in one important way. Trust fund collections that are offset
against outgo (as offsetting collections) within expenditure accounts
instead of being deposited in separate receipt accounts are classified
as income in this table but not in Table 16-1. This classification is
consistent with the definitions of income and outgo for trust funds used
elsewhere in the budget. It has the effect of increasing both income and
outgo by the amount of the offsetting collections. The difference is $19
billion in 1995. This table, therefore, provides a more complete summary
of trust fund income and outgo.
The trust funds group is expected to have large and growing surpluses
over the projection period. As a consequence, trust fund balances will
grow substantially, as they have over the past decade. The size of the
anticipated balances is unprecedented, and it results mainly from
relatively recent changes in the way some trust funds are financed.
Until the 1980s, most trust funds operated on a pay-as-you-go basis.
Taxes and user fees were set at levels high enough to finance benefits
and administrative expenses, and to maintain prudent reserves, generally
defined as being equal to one year's expenditures. As a result, trust
fund balances tended to grow at about the same rate as their annual
expenditures.
Pay-as-you-go financing was replaced in the 1980s by full or partial
accrual funding for some of the larger trust funds. In order to
partially prefund the ``baby-boomers'' social security benefits, the
Social Security Amendments of 1983 raised payroll taxes above the levels
necessary to finance current expenditures. In 1985 a new system was set
up to finance military retirement benefits on a full accrual basis. In
1986 full accrual funding of retirement benefits was mandated for
Federal civilian employees hired after December 31, 1983. The latter two
changes require Federal agencies and their employees to make annual
payments to the Federal employees' retirement trust funds in an amount
equal to the value of the retirement benefits earned by employees in
that year. Since many years will pass before current employees are paid
retirement benefits, the trust funds will accumulate substantial
balances over time.
Table 16-2. INCOME, OUTGO, AND BALANCES OF TRUST FUNDS GROUP
(In billions of dollars)
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Estimate
1995 -----------------------------------------------------------------------------------
actual 1996 1997 1998 1999 2000 2001 2002
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Balance, start of year.................................. 1,182.9 1,282.1 1,393.0 1,516.8 1,643.1 1,779.3 1,929.0 2,084.0
Income:
Governmental receipts................................ 517.0 537.8 572.6 597.7 627.2 657.6 686.9 720.5
Proprietary receipts................................. 41.1 40.9 40.5 41.3 43.2 45.7 48.5 51.5
Receipts from Federal funds:
Interest........................................... 94.8 99.3 102.8 106.8 110.7 116.6 119.3 124.7
Other.............................................. 133.5 157.2 166.5 176.9 187.8 200.1 216.1 232.8
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Subtotal, income................................. 786.4 835.2 882.3 922.7 968.9 1,020.1 1,070.9 1,129.4
Outgo:
To the public........................................ 683.1 719.9 754.4 792.1 828.4 866.0 911.5 962.5
Payments to Federal funds............................ 4.0 4.4 4.2 4.3 4.3 4.4 4.5 4.6
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Subtotal, outgo.................................. 687.1 724.3 758.6 796.3 832.7 870.5 915.9 967.1
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. 4.5 11.6 21.0 19.6 25.5 33.0 35.7 37.7
Interest........................................... 94.8 99.3 102.8 106.8 110.7 116.6 119.3 124.7
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Subtotal, surplus or deficit (-)................. 99.3 110.9 123.8 126.3 136.2 149.6 155.0 162.3
Adjustments:
Transfers/lapses (net)............................. -0.1 -* -* .......... .......... .......... .......... ..........
Other adjustments.................................. * .......... -* .......... .......... .......... .......... ..........
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Total, change in fund balance...................... 99.2 110.9 123.8 126.3 136.2 149.6 155.0 162.3
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Balance, end of year.................................... 1,282.1 1,393.0 1,516.8 1,643.1 1,779.3 1,929.0 2,084.0 2,246.3
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*Less than *50 million.
Primarily because of these changes, but also because of the impact of
real growth and inflation, trust fund balances increased six-fold from
1982 to 1995, from $205 billion to $1.3 trillion. Under the proposals in
the President's budget, the balances are estimated to increase by
another 75 percent by the year 2002, rising
[[Page 263]]
to $2.2 trillion. Almost all of these balances are
invested in Treasury securities and earn interest.
Therefore, they effectively represent the value, in current dollars, of
taxes and user fees that have been paid in advance for future benefits
and services.
These balances are available to finance future benefit payments and
other trust fund expenditures--but only in a bookkeeping sense. Unlike
the assets of private pension plans, they do not consist of real
economic assets that can be drawn down in the future to fund benefits.
Instead, they are claims on the Treasury that, when redeemed, will have
to be financed by raising taxes, borrowing from the public, or reducing
benefits or other expenditures. The existence of large trust fund
balances, therefore, does not, by itself, make it easier for the
Government to pay benefits.
From an economic standpoint, the Government is able to prefund
benefits only by increasing saving and investment in the economy as a
whole. This can be fully accomplished only by simultaneously running
trust fund surpluses equal to the actuarial present value of the
accumulating benefits and not allowing the Federal fund deficit to
increase, so that the trust fund surplus reduces the unified budget
deficit. This would reduce Federal borrowing by the amount of the trust
funds surplus and increase the amount of national saving available to
finance investment. Greater investment would increase future incomes and
wealth, particularly if it increased the rate of productivity growth. In
turn, this would make it possible for the trust funds to draw down on
their investments in Treasury debt to pay future benefits without having
to increase the burden on future workers by raising tax rates, reducing
spending, or increasing Government borrowing.
Table 16-3 shows estimates of income, outgo, and balances for 1995
through 2002 for the major trust funds. With the exception of
transactions between trust funds, the data for the individual trust
funds are conceptually the same as the data in Table 16-2 for the trust
funds group. As explained previously, transactions between trust funds
are shown as outgo of the fund that makes the payment and as income of
the fund that collects it in the data for an individual trust fund, but
the collections are offset against outgo in the data for the trust fund
group. Additional information for these and other trust funds can be
found in the Status of Funds tables in the Budget Appendix.
Table 16-4, which appears at the end of this chapter, shows income,
outgo, and balances of 4 Federal funds--a revolving fund and 3 special
funds. These funds are similar to trust funds in that they are financed
by earmarked receipts, excesses of income over outgo are invested, the
interest earnings add to balances, and the balances remain available to
finance future expenditures. The table is illustrative of the Federal
funds group, which includes many other revolving funds and special funds
in addition to the ones shown.
Table 16-3. INCOME, OUTGO, AND BALANCES OF MAJOR TRUST FUNDS
(In billions of dollars)
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Estimate
1995 -----------------------------------------------------------------------------------
actual 1996 1997 1998 1999 2000 2001 2002
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Airport and Airway Trust Fund
Balance, start of year.................................. 12.4 11.4 8.3 8.7 9.2 10.4 12.1 14.3
Income:
Governmental receipts................................ 5.5 2.3 6.3 6.6 7.0 7.4 7.8 8.3
Proprietary receipts................................. * * * * * * * *
Receipts from Federal funds:
Interest........................................... 0.8 0.8 0.6 0.6 0.6 0.7 0.7 0.9
Other.............................................. 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
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Subtotal, income................................. 6.4 3.2 6.9 7.3 7.7 8.2 8.7 9.3
Outgo:
To the public........................................ 7.4 6.3 6.6 6.8 6.5 6.5 6.5 6.7
Payments to Other funds.............................. .......... .......... .......... .......... .......... .......... .......... ..........
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Subtotal, outgo.................................. 7.4 6.3 6.6 6.8 6.5 6.5 6.5 6.7
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. -1.8 -3.9 -0.2 -* 0.6 1.0 1.5 1.8
Interest........................................... 0.8 0.8 0.6 0.6 0.6 0.7 0.7 0.9
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. -1.0 -3.1 0.4 0.5 1.2 1.7 2.2 2.6
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... -1.0 -3.1 0.4 0.5 1.2 1.7 2.2 2.6
===============================================================================================
[[Page 264]]
Balance, end of year.................................... 11.4 8.3 8.7 9.2 10.4 12.1 14.3 17.0
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Federal Employees Health Benefits Fund
Balance, start of year.................................. 7.5 7.8 7.9 8.1 8.6 9.2 9.7 10.0
Income:
Governmental receipts................................. .......... .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts................................. 4.0 4.0 4.2 4.5 5.5 5.9 6.2 6.6
Receipts from Federal funds:
Interest............................................ 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4
Other............................................... 11.8 11.5 12.1 12.9 13.1 13.8 14.5 15.5
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 16.2 15.9 16.7 17.8 19.0 20.2 21.1 22.6
Outgo:
To the public........................................ 15.9 15.9 16.5 17.3 18.4 19.6 20.8 22.2
Payments to Other funds.............................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 15.9 15.9 16.5 17.3 18.4 19.6 20.8 22.2
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. -0.1 -0.4 -0.2 0.1 0.2 0.1 -0.1 -*
Interest........................................... 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. 0.3 0.1 0.2 0.5 0.6 0.5 0.3 0.4
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... 0.3 0.1 0.2 0.5 0.6 0.5 0.3 0.4
===============================================================================================
Balance, end of year.................................... 7.8 7.9 8.1 8.6 9.2 9.7 10.0 10.4
--------------------------------------------------------------------------------------------------------------------------------------------------------
Federal Civilian Employees Retirement Funds
Balance, start of year.................................. 346.4 374.3 403.0 431.1 459.0 487.7 517.1 547.7
Income:
Governmental receipts................................ 4.5 4.5 4.6 4.7 4.7 4.8 4.8 4.9
Proprietary receipts................................. .......... .......... .......... .......... .......... .......... .......... ..........
Receipts from Federal funds:
Interest........................................... 28.7 29.9 30.5 30.9 31.4 31.6 32.0 32.7
Other.............................................. 33.6 34.5 35.2 36.5 38.8 41.5 44.3 47.1
Receipts from Trust funds............................ * * * * * * * *
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 66.8 68.9 70.3 72.1 74.9 77.8 81.2 84.7
Outgo:
To the public........................................ 38.9 40.2 42.1 44.1 46.2 48.4 50.7 53.4
Payments to Other funds.............................. * * * * * * * *
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 38.9 40.2 42.1 44.1 46.2 48.4 50.7 53.4
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. -0.8 -1.2 -2.4 -2.9 -2.7 -2.2 -1.5 -1.4
Interest........................................... 28.7 29.9 30.5 30.9 31.4 31.6 32.0 32.7
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. 27.9 28.7 28.1 28.0 28.7 29.4 30.5 31.3
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... 27.9 28.7 28.1 28.0 28.7 29.4 30.5 31.3
===============================================================================================
Balance, end of year.................................... 374.3 403.0 431.1 459.0 487.7 517.1 547.7 579.0
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[[Page 265]]
Federal Old-Age, Survivors and Disability Insurance
Trust Funds
Balance, start of year.................................. 422.7 483.2 548.2 621.1 698.5 782.8 874.4 971.5
Income:
Governmental receipts................................ 351.1 367.4 388.0 406.3 427.8 450.0 471.2 494.6
Proprietary receipts................................. * * * * * * * *
Receipts from Federal funds:
Interest........................................... 33.3 36.4 39.4 42.4 45.5 48.9 52.6 56.6
Other.............................................. 14.1 14.5 15.8 16.9 18.0 19.3 20.5 21.9
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 398.5 418.4 443.2 465.7 491.3 518.1 544.2 573.2
Outgo:
To the public........................................ 333.6 349.0 366.1 384.1 402.6 422.2 442.8 464.4
Payments to Other funds.............................. 4.5 4.4 4.1 4.2 4.3 4.3 4.4 4.4
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 338.1 353.4 370.2 388.3 406.9 426.5 447.2 468.9
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. 27.1 28.6 33.6 34.9 38.9 42.7 44.5 47.7
Interest........................................... 33.3 36.4 39.4 42.4 45.5 48.9 52.6 56.6
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. 60.4 65.0 73.0 77.3 84.3 91.6 97.1 104.3
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... 60.4 65.0 73.0 77.3 84.3 91.6 97.1 104.3
===============================================================================================
Balance, end of year.................................... 483.2 548.2 621.1 698.5 782.8 874.4 971.5 1,075.8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Foreign Military Sales Trust Fund
Balance, start of year.................................. 6.4 5.5 5.3 5.2 5.2 5.0 5.2 5.3
Income:
Governmental receipts................................ .......... .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts................................. 12.5 13.0 12.2 11.3 10.3 10.2 9.9 9.4
Receipts from Federal funds:
Interest........................................... .......... .......... .......... .......... .......... .......... .......... ..........
Other.............................................. .......... .......... .......... .......... .......... .......... .......... ..........
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 12.5 13.0 12.2 11.3 10.3 10.2 9.9 9.4
Outgo:
To the public........................................ 13.4 13.2 12.3 11.3 10.5 10.0 9.7 9.4
Payments to Other funds.............................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 13.4 13.2 12.3 11.3 10.5 10.0 9.7 9.4
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. -0.9 -0.1 -0.1 -0.1 -0.2 0.2 0.1 -0.1
Interest........................................... .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. -0.9 -0.1 -0.1 -0.1 -0.2 0.2 0.1 -0.1
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... -0.9 -0.1 -0.1 -0.1 -0.2 0.2 0.1 -0.1
===============================================================================================
Balance, end of year.................................... 5.5 5.3 5.2 5.2 5.0 5.2 5.3 5.3
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 266]]
Highway Trust Fund
Balance, start of year.................................. 17.9 19.0 21.4 23.9 27.6 33.1 41.1 50.8
Income:
Governmental receipts................................ 22.6 24.6 24.9 25.2 25.7 26.1 26.6 27.1
Proprietary receipts................................. * * * * * * * *
Receipts from Federal funds:
Interest........................................... 1.2 1.3 1.4 1.5 1.7 2.0 2.4 2.8
Other.............................................. 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, Income................................. 23.9 26.0 26.4 26.9 27.5 28.2 29.0 30.0
Outgo:
To the public........................................ 22.7 23.6 23.9 23.2 22.0 20.2 19.3 20.4
Payments to Other funds.............................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, Outgo.................................. 22.7 23.6 23.9 23.2 22.0 20.2 19.3 20.4
Change in fund balance:
Surplus or deficit:
Excluding interest................................. -* 1.1 1.1 2.1 3.8 6.0 7.4 6.8
Interest........................................... 1.2 1.3 1.4 1.5 1.7 2.0 2.4 2.8
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit..................... 1.1 2.4 2.5 3.6 5.5 8.0 9.7 9.6
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, Change in fund balance...................... 1.1 2.4 2.5 3.6 5.5 8.0 9.7 9.6
===============================================================================================
Balance, End of Year.................................... 19.0 21.4 23.9 27.6 33.1 41.1 50.8 60.4
--------------------------------------------------------------------------------------------------------------------------------------------------------
Medicare: Federal Hospital Insurance (HI) Trust Fund
Balance, start of year.................................. 129.6 129.5 123.4 126.5 128.8 130.1 133.2 131.9
Income:
Governmental receipts................................ 96.0 101.8 108.8 114.3 120.5 126.9 133.1 139.9
Proprietary receipts................................. 1.0 1.1 1.1 1.2 1.2 1.3 1.4 1.5
Receipts from Federal funds:
Interest........................................... 10.9 10.5 9.9 9.7 9.5 11.1 8.8 8.3
Other.............................................. 7.0 7.0 7.4 7.5 7.9 8.4 8.8 9.3
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 114.8 120.5 127.2 132.7 139.1 147.7 152.1 159.1
Outgo:
To the public........................................ 114.9 126.5 124.2 130.3 137.9 144.5 153.5 162.9
Payments to Other funds.............................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 114.9 126.5 124.2 130.3 137.9 144.5 153.5 162.9
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. -10.9 -16.6 -6.9 -7.4 -8.2 -8.0 -10.2 -12.1
Interest........................................... 10.9 10.5 9.9 9.7 9.5 11.1 8.8 8.3
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. -* -6.1 3.0 2.3 1.2 3.2 -1.4 -3.8
Adjustments:
Transfers/lapses (net)............................. -* .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. -* * .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... -* -6.1 3.0 2.3 1.2 3.2 -1.4 -3.8
===============================================================================================
Balance, end of year.................................... 129.5 123.4 126.5 128.8 130.1 133.2 131.9 128.0
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 267]]
Medicare: Federal Supplementary Medical Insurance (SMI)
Trust Fund
Balance, start of year.................................. 20.9 13.9 24.8 27.3 28.2 29.3 30.6 33.5
Income:
Governmental receipts................................ .......... .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts................................. 19.2 18.7 18.9 20.4 22.3 24.3 27.1 30.0
Receipts from Federal funds:
Interest........................................... 1.9 1.8 2.2 2.3 2.3 2.2 2.2 2.3
Other.............................................. 37.0 61.3 67.3 74.3 80.6 87.0 96.9 106.7
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 58.2 81.9 88.4 97.0 105.2 113.5 126.3 139.0
Outgo:
To the public........................................ 65.2 70.9 85.9 96.2 104.0 112.2 123.4 135.6
Payments to Other funds.............................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 65.2 70.9 85.9 96.2 104.0 112.2 123.4 135.6
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. -9.0 9.2 0.3 -1.5 -1.1 -0.9 0.6 1.1
Interest........................................... 1.9 1.8 2.2 2.3 2.3 2.2 2.2 2.3
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. -7.0 11.0 2.5 0.8 1.1 1.3 2.9 3.4
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... -7.0 11.0 2.5 0.8 1.1 1.3 2.9 3.4
===============================================================================================
Balance, end of year.................................... 13.9 24.8 27.3 28.2 29.3 30.6 33.5 36.9
--------------------------------------------------------------------------------------------------------------------------------------------------------
Military Retirement Fund
Balance, start of year.................................. 119.9 126.7 131.0 134.7 137.5 140.0 142.4 144.8
Income:
Governmental receipts................................ .......... .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts................................. .......... .......... .......... .......... .......... .......... .......... ..........
Receipts from Federal funds:
Interest........................................... 10.9 10.9 11.0 11.2 11.4 11.7 11.9 12.1
Other.............................................. 23.7 21.9 22.4 22.3 23.0 23.7 24.5 25.4
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 34.6 32.8 33.4 33.5 34.4 35.3 36.4 37.5
Outgo:
To the public........................................ 27.8 28.5 29.7 30.8 31.9 32.9 34.0 35.1
Payments to Other funds.............................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 27.8 28.5 29.7 30.8 31.9 32.9 34.0 35.1
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. -4.1 -6.6 -7.3 -8.4 -8.9 -9.3 -9.5 -9.7
Interest........................................... 10.9 10.9 11.0 11.2 11.4 11.7 11.9 12.1
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. 6.8 4.3 3.7 2.8 2.5 2.4 2.4 2.4
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... 6.8 4.3 3.7 2.8 2.5 2.4 2.4 2.4
===============================================================================================
Balance, end of year.................................... 126.7 131.0 134.7 137.5 140.0 142.4 144.8 147.3
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 268]]
Railroad Retirement Trust Funds
Balance, start of year.................................. 13.1 14.4 15.0 15.6 16.3 16.9 17.6 18.3
Income:
Governmental receipts................................ 3.9 3.9 4.0 4.0 4.0 4.1 4.1 4.1
Proprietary receipts................................. .......... .......... .......... .......... .......... .......... .......... ..........
Receipts from Federal funds:
Interest........................................... 1.0 0.8 0.8 0.8 0.8 0.9 0.9 0.9
Other.............................................. 3.3 3.4 3.5 3.6 3.6 3.7 3.7 3.8
Receipts from Trust funds............................ 4.1 3.8 3.8 3.9 3.9 4.0 4.0 4.1
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 12.4 11.9 12.1 12.3 12.4 12.6 12.8 12.9
Outgo:
To the public........................................ 7.9 7.9 8.1 8.2 8.3 8.4 8.5 8.6
Payments to Other funds.............................. 3.3 3.3 3.4 3.4 3.5 3.6 3.6 3.7
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 11.2 11.3 11.5 11.6 11.7 11.9 12.1 12.2
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. 0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2
Interest........................................... 1.0 0.8 0.8 0.8 0.8 0.9 0.9 0.9
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. 1.2 0.6 0.6 0.6 0.7 0.7 0.7 0.7
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... 1.2 0.6 0.6 0.6 0.7 0.7 0.7 0.7
===============================================================================================
Balance, end of year.................................... 14.4 15.0 15.6 16.3 16.9 17.6 18.3 19.1
--------------------------------------------------------------------------------------------------------------------------------------------------------
Unemployment Trust Fund
Balance, start of year.................................. 40.3 47.9 54.2 60.6 67.5 74.5 81.6 88.3
Income:
Governmental receipts................................ 28.9 29.8 30.8 31.6 32.3 33.0 33.8 35.9
Proprietary receipts................................. * .......... .......... .......... .......... .......... .......... ..........
Receipts from Federal funds:
Interest........................................... 2.7 3.4 3.6 4.0 4.3 4.4 4.6 4.7
Other.............................................. 1.2 0.7 0.7 0.7 0.7 0.7 0.7 0.7
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 32.8 33.8 35.1 36.3 37.3 38.2 39.1 41.3
Outgo:
To the public........................................ 25.3 27.5 28.7 29.4 30.2 31.1 32.3 33.6
Payments to Other funds.............................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 25.3 27.5 28.7 29.4 30.2 31.1 32.3 33.6
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. 4.8 3.0 2.8 2.9 2.8 2.6 2.2 3.1
Interest........................................... 2.7 3.4 3.6 4.0 4.2 4.4 4.6 4.7
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. 7.5 6.3 6.4 6.9 7.1 7.0 6.8 7.8
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. -* -* -* .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... 7.5 6.3 6.4 6.9 7.1 7.0 6.8 7.8
===============================================================================================
Balance, end of year.................................... 47.9 54.2 60.6 67.5 74.5 81.6 88.3 96.1
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 269]]
Veterans Life Insurance Trust Funds
Balance, start of year.................................. 13.5 13.6 13.6 13.5 13.3 13.5 13.7 13.7
Income:
Governmental receipts................................ .......... .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts................................. 0.9 0.9 0.9 0.8 0.8 0.8 0.8 0.7
Receipts from Federal funds:
Interest........................................... 1.2 1.2 1.1 1.1 1.0 1.0 0.9 0.9
Other.............................................. * * * * * * * *
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 2.1 2.1 2.0 1.9 1.8 1.7 1.7 1.6
Outgo:
To the public........................................ 2.0 2.2 2.1 2.1 1.6 1.6 1.6 1.6
Payments to Other funds.............................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 2.0 2.2 2.1 2.1 1.6 1.6 1.6 1.6
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. -1.1 -1.3 -1.2 -1.3 -0.8 -0.8 -0.8 -0.8
Interest........................................... 1.2 1.2 1.1 1.1 1.0 1.0 0.9 0.9
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. 0.1 -0.1 -0.1 -0.2 0.2 0.1 0.1 ..........
Adjustments:
Transfers/lapses (net)............................. .......... .......... .......... .......... .......... .......... .......... ..........
Other adjustments.................................. .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... 0.1 -0.1 -0.1 -0.2 0.2 0.1 0.1 ..........
===============================================================================================
Balance, end of year.................................... 13.6 13.6 13.5 13.3 13.5 13.7 13.7 13.8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Other Trust Funds
Balance, start of year.................................. 32.4 35.2 36.9 40.4 43.5 46.7 50.1 53.7
Income:
Governmental receipts................................ 4.4 3.4 5.3 5.0 5.2 5.4 5.5 5.7
Proprietary receipts................................. 3.3 3.1 3.1 3.1 3.1 3.1 3.2 3.2
Receipts from Federal funds:
Interest........................................... 1.8 1.9 1.9 1.9 1.9 1.9 1.9 2.0
Other.............................................. 1.7 2.2 1.9 1.9 1.9 2.0 2.0 2.0
Receipts from Trust funds............................ .......... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Subtotal, income................................. 11.3 10.5 12.2 11.9 12.0 12.3 12.6 12.9
Outgo:
To the public........................................ 8.0 8.3 8.2 8.2 8.4 8.4 8.5 8.7
Payments to Other funds.............................. 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.6
-----------------------------------------------------------------------------------------------
Subtotal, outgo.................................. 8.5 8.7 8.7 8.7 8.9 8.9 9.1 9.2
Change in fund balance:
Surplus or deficit (-):
Excluding interest................................. 1.0 -0.1 1.6 1.3 1.3 1.5 1.6 1.7
Interest........................................... 1.8 1.9 1.9 1.9 1.9 1.9 1.9 2.0
-----------------------------------------------------------------------------------------------
Subtotal, surplus or deficit (-)................. 2.8 1.8 3.5 3.2 3.2 3.4 3.6 3.7
Adjustments:
Transfers/lapses (net)............................. -0.1 -* -* .......... .......... .......... .......... ..........
Other adjustments.................................. * * -* .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------------------
Total, change in fund balance...................... 2.8 1.8 3.5 3.2 3.2 3.4 3.6 3.7
===============================================================================================
Balance, end of year.................................... 35.2 36.9 40.4 43.5 46.7 50.1 53.7 57.3
--------------------------------------------------------------------------------------------------------------------------------------------------------
*Less than $50 million.
[[Page 270]]
Table 16-4. INCOME, OUTGO, AND BALANCES OF SELECTED FEDERAL FUNDS
(In billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
1995 --------------------------------------------------------------
actual 1996 1997 1998 1999 2000 2001 2002
--------------------------------------------------------------------------------------------------------------------------------------------------------
Overseas Private Investment Corporation
Balance, start of year......................................................... 1.9 2.1 2.2 2.4 2.6 2.8 3.1 3.3
Income:
Governmental receipts....................................................... ........ ....... ....... ....... ....... ....... ....... .......
Proprietary receipts........................................................ 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Receipts from Federal funds:
Interest.................................................................. 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2
Other..................................................................... * * * * * * * *
Receipts from Trust funds................................................... ........ ....... ....... ....... ....... ....... ....... .......
------------------------------------------------------------------------
Subtotal, income........................................................ 0.2 0.2 0.3 0.3 0.3 0.3 0.3 0.3
Outgo:
To the public............................................................... * * * * * * * *
Payments to Other funds..................................................... ........ ....... ....... ....... ....... ....... ....... .......
------------------------------------------------------------------------
Subtotal, outgo......................................................... * * * * * * * *
Change in fund balance:
Surplus or deficit (-):
Excluding interest........................................................ 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Interest.................................................................. 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2
------------------------------------------------------------------------
Subtotal, surplus or deficit (-)........................................ 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Adjustments:
Transfers/lapses (net).................................................... -0.1 -* -0.1 ....... ....... ....... ....... .......
Other adjustments......................................................... ........ -* -* ....... ....... ....... ....... .......
------------------------------------------------------------------------
Total, change in fund balance............................................. 0.1 0.2 0.1 0.2 0.2 0.2 0.2 0.2
========================================================================
Balance, end of year........................................................... 2.1 2.2 2.4 2.6 2.8 3.1 3.3 3.5
--------------------------------------------------------------------------------------------------------------------------------------------------------
Abandoned Mine Reclamation Fund
Balance, start of year......................................................... 1.5 1.6 1.8 1.9 1.9 2.0 2.1 2.3
Income:
Governmental receipts....................................................... 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3
Proprietary receipts........................................................ * * * * * * * *
Receipts from Federal funds:
Interest.................................................................. ........ ....... ....... ....... ....... ....... ....... .......
Other..................................................................... ........ ....... ....... ....... ....... ....... ....... .......
Receipts from Trust funds................................................... ........ ....... ....... ....... ....... ....... ....... .......
------------------------------------------------------------------------
Subtotal, income........................................................ 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3
Outgo:
To the public............................................................... 0.2 0.2 0.3 0.3 0.3 0.2 0.2 0.2
Payments to Other funds..................................................... -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1
------------------------------------------------------------------------
Subtotal, outgo......................................................... 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2
Change in fund balance:
Surplus or deficit (-):
Excluding interest........................................................ 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1
Interest.................................................................. ........ ....... ....... ....... ....... ....... ....... .......
------------------------------------------------------------------------
Subtotal, surplus or deficit (-)........................................ 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1
Adjustments:
Transfers/lapses (net).................................................... ........ ....... ....... ....... ....... ....... ....... .......
Other adjustments......................................................... * * * ....... ....... ....... ....... .......
------------------------------------------------------------------------
Total, change in fund balance............................................. 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1
========================================================================
Balance, end of year........................................................... 1.6 1.8 1.9 1.9 2.0 2.1 2.3 2.4
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 271]]
Nuclear Waste Disposal Fund
Balance, start of year......................................................... 4.2 4.7 5.3 6.1 6.6 7.4 8.4 9.4
Income:
Governmental receipts....................................................... ........ ....... ....... ....... ....... ....... ....... .......
Proprietary receipts........................................................ 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.7
Receipts from Federal funds:
Interest.................................................................. ........ ....... ....... ....... ....... ....... ....... .......
Other..................................................................... ........ ....... ....... ....... ....... ....... ....... .......
Receipts from Trust funds................................................... ........ ....... ....... ....... ....... ....... ....... .......
------------------------------------------------------------------------
Subtotal, income........................................................ 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.7
Outgo:
To the public............................................................... 0.4 0.2 0.2 0.6 0.2 0.2 0.2 0.2
Payments to Other funds..................................................... -0.2 -0.3 -0.3 -0.4 -0.4 -0.5 -0.5 -0.6
------------------------------------------------------------------------
Subtotal, outgo......................................................... 0.2 -* -0.1 0.2 -0.2 -0.3 -0.4 -0.4
Change in fund balance:
Surplus or deficit (-):
Excluding interest........................................................ 0.4 0.7 0.8 0.5 0.9 0.9 1.0 1.0
Interest.................................................................. ........ ....... ....... ....... ....... ....... ....... .......
------------------------------------------------------------------------
Subtotal, surplus or deficit (-)........................................ 0.4 0.7 0.8 0.5 0.9 0.9 1.0 1.0
Adjustments:
Transfers/lapses (net).................................................... ........ ....... ....... ....... ....... ....... ....... .......
Other adjustments......................................................... ........ ....... ....... ....... ....... ....... ....... .......
------------------------------------------------------------------------
Total, change in fund balance............................................. 0.4 0.7 0.8 0.5 0.9 0.9 1.0 1.0
========================================================================
Balance, end of year........................................................... 4.7 5.3 6.1 6.6 7.4 8.4 9.4 10.4
--------------------------------------------------------------------------------------------------------------------------------------------------------
Uranium Enrichment Decontamination and Decommissioning Fund
Balance, start of year......................................................... 0.3 0.3 0.5 0.8 1.2 1.7 2.1 2.6
Income:
Governmental receipts....................................................... 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.2
Proprietary receipts........................................................ ........ ....... * * * * * *
Receipts from Federal funds:
Interest.................................................................. ........ ....... ....... ....... ....... ....... ....... .......
Other..................................................................... ........ ....... ....... ....... ....... ....... ....... .......
Receipts from Trust funds................................................... ........ ....... ....... ....... ....... ....... ....... .......
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Subtotal, income........................................................ 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.2
Outgo:
To the public............................................................... 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2
Payments to Other funds..................................................... -0.2 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4
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Subtotal, outgo......................................................... 0.2 -0.1 -0.1 -0.2 -0.2 -0.2 -0.2 -0.2
Change in fund balance:
Surplus or deficit (-):
Excluding interest........................................................ -* 0.2 0.4 0.4 0.4 0.5 0.5 0.4
Interest.................................................................. ........ ....... ....... ....... ....... ....... ....... .......
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Subtotal, surplus or deficit (-)........................................ -* 0.2 0.4 0.4 0.4 0.5 0.5 0.4
Adjustments:
Transfers/lapses (net).................................................... -* ....... ....... ....... ....... ....... ....... .......
Other adjustments......................................................... ........ ....... ....... ....... ....... ....... ....... .......
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Total, change in fund balance............................................. -* 0.2 0.4 0.4 0.4 0.5 0.5 0.4
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Balance, end of year........................................................... 0.3 0.5 0.8 1.2 1.7 2.1 2.6 3.0
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*Less than $50 million.