[Analytical Perspectives]
[Other Technical Presentations]
[15. Trust Funds and Federal Funds]
[From the U.S. Government Publishing Office, www.gpo.gov]
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OTHER TECHNICAL PRESENTATIONS
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[[Page 303]]
15. 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 of these two fund groups and of the major trust
funds. Information is also provided about the income and outgo of four
Federal funds that are financed by earmarked collections in a manner
similar to trust funds. Since the effects on the existing Medicare trust
funds and on Federal funds of the President's proposed reforms of
Medicare Modernization and Immediate Helping Hand have not yet been
determined, the effects of these reforms are not reflected in detail in
this chapter.
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 financing 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 earmark collections for spending on specific purposes.
Where the law requires that Federal fund collections from a specified
source be earmarked to finance a particular program, such as a portion
of the Outer Continental Shelf mineral leasing receipts 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. However, significant amounts of collections credited to special
funds are derived from business-like activity, such as the receipts from
Outer Continental Shelf mineral leasing.
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 in the revolving funds, which are
expenditure accounts. These collections generally are available
automatically for obligation and making payments. Outlays for revolving
funds are reported net of offsetting collections. There are two classes
of revolving funds. Public enterprise funds, such as the Postal Service
Fund, 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. Like special funds and revolving funds, they earmark
collections for spending on specific purposes. 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 and transit construction, and airport and airway development.
There are a few trust revolving funds that are credited with collections
earmarked by law to carry out a cycle of business-type operations. Trust
funds also include a few small funds established to carry out the terms
of a conditional gift or bequest.
There is no substantive difference between trust funds and special
funds or between revolving funds and trust revolving funds. Whether a
particular fund is designated in law as a trust fund is, in many cases,
arbitrary. 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 payments to veterans' beneficiaries.\1\
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\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,
notwithstanding the presence of the words ``Trust Fund'' in its official
name.
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The Federal budget meaning of the term ``trust'' differs significantly
from the 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 or she cannot change unilaterally. In contrast, the Federal
Government owns the assets and earnings of most Federal trust funds, and
it can unilaterally 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 these funds. Other amounts are held in
deposit funds by the Government as a custodian on behalf of some entity
outside the Government. The Government makes no decisions about the
amount of these deposits or how they are spent. Therefore, they are
considered to be
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non-budgetary instead of Federal trust funds and are excluded from the
Federal budget.
A trust fund must use its income for the purposes designated by law.
Some, such as the Federal Employees Health Benefits 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 a Federal funds deficit.
A trust fund normally consists of one or more receipt accounts (to
record income) and an expenditure account (to record outgo). However, a
few trust funds, such as the Veterans Special Life Insurance fund, 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, offsetting collections are credited to the
funds (which are expenditure accounts), and their outlays are displayed
net of the offsetting collections.
Income and Outgo by Fund Group
Table 15-1 shows income, outgo, and surplus or deficit by fund group
and adds them together (and removes double-counting) 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 receipts (derived from governmental activity--primarily
income, payroll, and excise taxes--and gifts). It also consists of
offsetting receipts, which include 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
Table 15-1. RECEIPTS, OUTLAYS, AND SURPLUS OR DEFICIT BY FUND GROUP
(In billions of dollars)
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Estimate
2000 --------------------------------------------------------------------------------------------------
actual 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Receipts:
Federal funds cash income:
From the public........................ 1,362.7 1,444.2 1,453.9 1,488.2 1,534.3 1,568.6 1,618.7 1,681.9 1,765.9 1,856.8 1,946.9 2,063.5
From trust funds....................... 1.1 3.3 1.2 1.2 1.2 1.3 1.3 1.3 1.4 1.4 1.4 1.5
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Total, Federal funds cash income....... 1,363.8 1,447.6 1,455.0 1,489.4 1,535.6 1,569.9 1,620.0 1,683.2 1,767.2 1,858.2 1,948.4 2,064.9
Trust funds cash income:
From the public........................ 735.2 774.6 816.3 861.3 904.5 959.5 1,004.7 1,054.8 1,102.3 1,154.1 1,216.8 1,279.9
From Federal funds:
Interest............................. 130.9 144.5 154.4 167.7 182.6 198.4 215.8 234.8 255.7 278.4 301.3 325.8
Other................................ 163.6 168.5 184.3 195.3 203.9 218.3 231.4 244.1 258.9 274.6 291.9 310.2
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Total, trust funds cash income..... 1,029.7 1,087.6 1,155.1 1,224.3 1,290.9 1,376.1 1,451.9 1,533.8 1,616.9 1,707.1 1,810.1 1,915.8
Offsetting receipts...................... -368.2 -398.2 -418.4 -455.4 -487.7 -508.2 -543.1 -573.7 -613.6 -655.4 -700.0 -748.2
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Total, unified budget receipts......... 2,025.2 2,136.9 2,191.7 2,258.2 2,338.8 2,437.8 2,528.7 2,643.3 2,770.6 2,909.9 3,058.4 3,232.6
Outlays:
Federal funds cash outgo................. 1,362.0 1,398.2 1,480.4 1,534.8 1,579.5 1,626.7 1,663.7 1,710.2 1,777.4 1,840.7 1,908.6 1,979.2
Trust funds cash outgo................... 795.1 856.3 898.5 936.9 984.9 1,050.2 1,103.4 1,166.9 1,234.0 1,305.0 1,384.9 1,475.3
Offsetting receipts...................... -368.2 -398.2 -418.4 -455.4 -487.7 -508.2 -543.1 -573.7 -613.6 -655.4 -700.0 -748.2
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Total, unified budget outlays.......... 1,788.8 1,856.2 1,960.6 2,016.2 2,076.7 2,168.7 2,223.9 2,303.4 2,397.9 2,490.3 2,593.5 2,706.3
Surplus or deficit (-):
Federal funds............................ 1.8 49.4 -25.4 -45.4 -44.0 -56.9 -43.7 -27.0 -10.2 17.5 39.8 85.7
Trust funds.............................. 234.6 231.3 256.6 287.4 306.1 325.9 348.5 366.9 382.9 402.1 425.2 440.5
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Total, unified surplus/deficit (-)..... 236.4 280.7 231.2 242.0 262.1 269.0 304.8 339.9 372.7 419.6 465.0 526.2
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Note: Receipts include governmental, interfund, and proprietary receipts. They exclude intrafund receipts, which are offset against intrafund payments
so that cash income and cash outgo are not overstated.
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Table 15-2. INCOME, OUTGO, AND BALANCES OF TRUST FUNDS GROUP
(In billions of dollars)
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Estimate
2000 --------------------------------------------------------------------------------------------------
actual 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Total Trust Funds
Balance, start of year..................... 1,875.6 2,110.0 2,341.3 2,597.9 2,885.3 3,191.3 3,517.3 3,865.8 4,232.7 4,615.6 5,017.7 5,442.9
Income:
Governmental receipts.................... 700.5 738.4 776.4 818.6 860.4 912.1 954.5 1,002.1 1,046.6 1,095.2 1,154.5 1,214.0
Proprietary receipts..................... 43.2 45.3 49.6 53.1 55.1 59.1 62.6 65.8 69.5 73.5 77.8 82.2
Receipts from Federal funds:
Interest............................... 130.9 144.5 154.4 167.7 182.6 198.4 215.8 234.8 255.7 278.4 301.3 325.8
Other.................................. 184.3 192.9 209.5 220.3 229.7 245.8 260.7 275.4 292.4 310.3 329.5 350.3
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Subtotal, income..................... 1,058.9 1,121.1 1,189.9 1,259.7 1,327.9 1,415.4 1,493.6 1,578.2 1,664.2 1,757.4 1,863.0 1,972.3
Outgo:
To the public............................ 823.2 886.4 932.2 971.1 1,020.5 1,088.2 1,143.8 1,209.9 1,280.0 1,353.9 1,436.4 1,530.4
Payments to Federal funds................ 1.1 3.3 1.2 1.2 1.2 1.3 1.3 1.3 1.4 1.4 1.4 1.5
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Subtotal, outgo...................... 824.3 889.8 933.4 972.3 1,021.8 1,089.4 1,145.1 1,211.2 1,281.3 1,355.3 1,437.8 1,531.8
Change in fund balance:
Surplus or deficit (-):
Excluding interest..................... 103.9 87.0 102.3 121.8 125.7 129.9 135.1 134.2 129.4 126.2 126.5 117.6
Interest............................... 130.7 144.3 154.3 165.6 180.4 196.1 213.4 232.8 253.5 275.9 298.6 322.9
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Subtotal, surplus or deficit (-)..... 234.6 231.3 256.6 287.4 306.1 325.9 348.5 366.9 382.9 402.1 425.2 440.5
Adjustments:
Transfers/lapses (net)................... -0.4 -* -* ....... ....... ....... ....... ....... ....... ....... ....... .......
Other adjustments........................ 0.2 -* * ....... ....... ....... ....... ....... ....... ....... ....... .......
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Total, change in fund balance.......... 234.4 231.3 256.6 287.4 306.1 325.9 348.5 366.9 382.9 402.1 425.2 440.5
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Balance, end of year....................... 2,110.0 2,341.3 2,597.9 2,885.3 3,191.3 3,517.3 3,865.8 4,232.7 4,615.6 5,017.7 5,442.9 5,883.4
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* Less than $50 million.
from the sum of the income and outgo of all individual funds within the
fund group to calculate the consolidated income and outgo for that fund
group as a whole. Second, income excludes the offsetting collections,
which are offset against outgo in revolving fund 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 15-1 and are not
shown separately.
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\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 both
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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Some funds in the Federal funds group and some trust funds are
authorized to borrow from the general fund of the Treasury.\4\ Borrowed
funds are not recorded as receipts and are excluded from the income of
the fund. The borrowed funds finance outlays by the fund in excess of
available receipts. Subsequently, fund receipts are transferred from the
fund to the general fund in repayment of the borrowing. The repayment is
not recorded as an outlay of the fund or included in fund outgo.
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\4\ For example, the Bonneville Power Administration Fund, a revolving
fund in the Department of Energy, is authorized to borrow from the
general fund, and the Black Lung Disability Trust Fund in the Department
of Labor is authorized to receive appropriations of repayable advances
from the general fund (a form of borrowing).
Some income in both Federal funds and trust funds consists of
offsetting receipts. In contrast, for most budget purposes, offsetting
receipts are excluded from receipts figures and subtracted from gross
outlays. There are two reasons for this treatment:
Business-like or market-oriented activities with the public:
The collections from such activities are deducted from gross
outlays, rather than added to receipts, in order to produce
budget totals for receipts and outlays that represent
governmental rather than market activity.
Intragovernmental transactions: Collections by one
Government account from another are deducted from gross
outlays, rather than added to receipts, so that the budget
totals measure the transactions of the Government with the
public.
Because the income for Federal funds and for trust funds recorded in
Table 15-1 includes offsetting receipts, those offsetting receipts must
be deducted from the two fund groups' combined gross income in order to
reconcile to total (net) unified budget receipts. Similarly, because the
outgo for Federal funds and for trust funds in Table 15-1 consists of
gross outlays, the amount of the offsetting receipts must be deducted
from the sum of the Federal funds' and the trust funds' gross outgo in
order to reconcile to total (net) unified budget outlays. Table 15-3
reconciles, for fiscal year
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Table 15-3. COMPARISON OF TOTAL FEDERAL FUND AND TRUST FUND RECEIPTS WITH UNIFIED BUDGET RECEIPTS, FISCAL YEAR
2000
(In billions of dollars)
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Total of trust fund receipts and Federal fund receipts............................................. 2,403.4
Deduct intrafund receipts (from funds within the same fund group):
Trust intrafund receipts....................................................................... -3.7
Federal intrafund receipts..................................................................... -6.2
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Subtotal, intrafund receipts................................................................. -9.9
Total trust funds and Federal funds cash income.................................................... 2,393.5
Deduct offsetting receipts: \1\
Trust fund receipts from Federal funds:
Interest in receipt accounts................................................................. -128.9
General fund payment to Medicare Part B...................................................... -65.6
Employing agencies' payments for pensions, Social Security, and Medicare..................... -37.9
General fund payments for unfunded liabilities of Federal employees retirement funds......... -37.1
Transfer of taxation of Social Security benefits to OASDI, HI, and RRB....................... -23.2
Other receipts from Federal funds............................................................ -1.9
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Subtotal, trust fund receipts from Federal funds........................................... -294.5
Federal fund receipts from trust funds......................................................... -1.1
Proprietary receipts........................................................................... -72.7
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Subtotal, offsetting receipts................................................................ -368.2
Unified budget receipts............................................................................ 2,025.2
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\1\ Offsetting receipts are included in cash income for each fund group, but are deducted from outlays in the
unified budget.
2000, the gross total of all trust fund and Federal fund receipts with
the net total of the Federal fund group's and the trust fund group's
cash income (as shown in Table 15-1), and with the unified budget's
receipt total.
Income, Outgo, and Balances of Trust Funds
Table 15-2 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 15-1 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 15-1. 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
approximately $29 billion in 2000. Table 15-2, 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 are
estimated to grow substantially, as they have over the past two decades.
The size of the anticipated balances is unprecedented, and it results
mainly from relatively recent changes in the way some trust funds are
financed.
Primarily because of these changes, but also because of the impact of
real growth and inflation, trust fund balances increased tenfold from
1982 to 2000, from $205 billion to $2.1 trillion. Under the proposals in
the President's budget, the balances are estimated to double again by
the year 2007, rising to $4.2 trillion. Almost all of these balances are
invested in Treasury securities and earn interest. Therefore, they
represent the value, in current dollars, of taxes and user fees that
have been paid in advance for future benefits and services.
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 1984 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
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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.
These balances are available to finance future benefit payments and
other trust fund expenditures--but only in a bookkeeping sense. These
funds are not set up to be pension funds, like the funds of private
pension plans. They do not hold real economic assets that can be drawn
down in the future to fund benefits. Instead, they are claims on the
Treasury. When trust fund holdings are redeemed to pay benefits,
Treasury will have to finance the expenditure in the same way as any
other Federal expenditure: out of current receipts, by borrowing from
the public, or by reducing benefits or other expenditures. The existence
of large trust fund balances, therefore, does not, by itself, affect the
Government's ability 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 a unified budget
deficit or increases a unified budget surplus. 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, which would provide
more real economic resources to support the benefits.
Table 15-4 shows estimates of income, outgo, and balances for 2000
through 2006 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 15-2 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 15-5, which immediately follows Table 15-4, at the end of this
chapter, shows income, outgo, and balances of four Federal funds--a
revolving fund and three 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.
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Table 15-4. INCOME, OUTGO, AND BALANCES OF MAJOR TRUST FUNDS
(In billions of dollars)
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Estimate
2000 -----------------------------------------------------------------------
actual 2001 2002 2003 2004 2005 2006
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Airport and Airway Trust Fund
Balance, start of year.............................................. 12.4 13.9 15.6 16.7 17.8 19.1 20.8
Income:
Governmental receipts............................................. 9.7 10.4 11.2 11.9 12.6 13.3 14.1
Proprietary receipts.............................................. * * * * * * *
Receipts from Federal funds:
Interest........................................................ 0.8 0.9 1.0 1.0 1.1 1.2 1.3
Other........................................................... 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 10.7 11.4 12.3 13.0 13.8 14.6 15.5
Outgo:
To the public..................................................... 9.2 9.7 11.2 11.9 12.4 13.0 13.3
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 9.2 9.7 11.2 11.9 12.4 13.0 13.3
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. 0.7 0.8 0.1 * 0.2 0.4 0.9
Interest........................................................ 0.8 0.9 1.0 1.0 1.1 1.2 1.3
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 1.5 1.7 1.1 1.1 1.3 1.7 2.2
Adjustments:
Transfers/lapses (net).......................................... -* .......... .......... .......... .......... .......... ..........
Other adjustments............................................... .......... -* .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 1.5 1.7 1.1 1.1 1.3 1.7 2.2
===================================================================================
Balance, end of year................................................ 13.9 15.6 16.7 17.8 19.1 20.8 22.9
Federal Employees Health Benefits Fund
Balance, start of year.............................................. 5.8 6.0 6.7 7.9 9.1 10.1 10.9
Income:
Governmental receipts............................................. .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts.............................................. 5.3 5.9 6.5 7.1 7.7 8.3 9.0
Receipts from Federal funds:
Interest........................................................ 0.4 0.4 0.4 0.5 0.5 0.6 0.6
Other........................................................... 14.0 15.7 17.3 18.6 20.0 21.5 23.1
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 19.7 21.9 24.2 26.1 28.3 30.5 32.7
Outgo:
To the public..................................................... 19.6 21.2 23.0 25.0 27.3 29.7 32.0
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 19.6 21.2 23.0 25.0 27.3 29.7 32.0
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. -0.2 0.4 0.8 0.7 0.5 0.2 0.1
Interest........................................................ 0.4 0.4 0.4 0.5 0.5 0.6 0.6
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 0.2 0.8 1.2 1.2 1.0 0.8 0.8
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... .......... -* * .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 0.2 0.8 1.2 1.2 1.0 0.8 0.8
===================================================================================
Balance, end of year................................................ 6.0 6.7 7.9 9.1 10.1 10.9 11.6
Federal Civilian Employees Retirement Funds
Balance, start of year.............................................. 491.9 523.2 554.9 586.7 618.3 650.2 682.1
Income:
Governmental receipts............................................. 4.7 4.6 4.3 4.1 4.0 3.8 3.6
Proprietary receipts.............................................. .......... .......... .......... .......... .......... .......... ..........
Receipts from Federal funds:
Interest........................................................ 34.4 35.9 37.3 38.8 40.2 41.4 42.6
Other........................................................... 38.0 39.3 40.4 41.4 42.8 44.3 45.5
[[Page 309]]
Receipts from Trust funds......................................... * * * * * * *
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Subtotal, income.............................................. 77.1 79.8 82.1 84.3 87.0 89.4 91.7
Outgo:
To the public..................................................... 45.8 48.0 50.3 52.7 55.1 57.5 60.0
Payments to Other funds........................................... * * * * * * *
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Subtotal, outgo............................................... 45.8 48.0 50.3 52.7 55.1 57.5 60.0
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. -3.0 -4.2 -5.6 -7.2 -8.3 -9.5 -10.9
Interest........................................................ 34.4 35.9 37.3 38.8 40.2 41.4 42.6
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 31.4 31.7 31.8 31.6 31.9 31.9 31.7
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... .......... -* .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 31.4 31.7 31.8 31.6 31.9 31.9 31.7
===================================================================================
Balance, end of year................................................ 523.2 554.9 586.7 618.3 650.2 682.1 713.8
Federal Old-Age, Survivors and Disability Insurance Trust Funds
Balance, start of year.............................................. 855.0 1,006.9 1,165.6 1,340.4 1,533.2 1,743.0 1,978.3
Income:
Governmental receipts............................................. 480.6 503.9 530.9 560.8 590.3 629.0 658.5
Proprietary receipts.............................................. 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Receipts from Federal funds:
Interest........................................................ 59.8 68.9 76.1 85.4 95.9 107.3 120.1
Other........................................................... 23.2 23.0 25.2 26.4 28.2 30.0 31.8
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 563.7 595.9 632.3 672.7 714.4 766.4 810.5
Outgo:
To the public..................................................... 407.8 432.7 453.3 475.8 500.4 526.9 555.9
Payments to Other funds........................................... 4.0 4.4 4.2 4.2 4.2 4.2 4.1
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 411.8 437.1 457.5 480.0 504.6 531.1 559.9
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. 92.1 89.8 98.7 107.3 114.0 128.0 130.4
Interest........................................................ 59.8 68.9 76.1 85.4 95.9 107.3 120.1
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 151.8 158.7 174.8 192.7 209.8 235.3 250.6
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 151.8 158.7 174.8 192.7 209.8 235.3 250.6
===================================================================================
Balance, end of year................................................ 1,006.9 1,165.6 1,340.4 1,533.2 1,743.0 1,978.3 2,228.8
Foreign Military Sales Trust Fund
Balance, start of year.............................................. 5.5 5.8 5.8 5.8 5.8 5.8 5.8
Income:
Governmental receipts............................................. .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts.............................................. 11.4 11.3 11.4 11.5 11.2 11.0 10.9
Receipts from Federal funds:
Interest........................................................ .......... .......... .......... .......... .......... .......... ..........
Other........................................................... .......... .......... .......... .......... .......... .......... ..........
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 11.4 11.3 11.4 11.5 11.2 11.0 10.9
Outgo:
To the public..................................................... 11.1 11.3 11.4 11.5 11.2 11.0 10.9
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 11.1 11.3 11.4 11.5 11.2 11.0 10.9
[[Page 310]]
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. 0.3 .......... .......... .......... .......... .......... ..........
Interest........................................................ .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 0.3 .......... .......... .......... .......... .......... ..........
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 0.3 .......... .......... .......... .......... .......... ..........
===================================================================================
Balance, end of year................................................ 5.8 5.8 5.8 5.8 5.8 5.8 5.8
Highway Trust Fund
Balance, start of year.............................................. 29.0 31.1 32.9 33.2 38.7 43.1 46.0
Income:
Governmental receipts............................................. 35.0 35.4 36.5 37.6 38.7 39.8 40.9
Proprietary receipts.............................................. 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Receipts from Federal funds:
Interest........................................................ .......... .......... .......... .......... .......... .......... ..........
Other........................................................... * * * * * * *
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, Income.............................................. 35.1 35.6 36.7 37.8 38.9 40.0 41.0
Outgo:
To the public..................................................... 33.0 33.8 36.3 32.3 34.5 37.0 39.2
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, Outgo............................................... 33.0 33.8 36.3 32.3 34.5 37.0 39.2
Change in fund balance:
Surplus or deficit:............................................... .......... .......... .......... .......... .......... .......... ..........
Excluding interest.............................................. 2.1 1.8 0.3 5.5 4.4 2.9 1.8
Interest........................................................ .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit.................................. 2.1 1.8 0.3 5.5 4.4 2.9 1.8
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... -* * -* .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, Change in fund balance................................... 2.1 1.8 0.3 5.5 4.4 2.9 1.8
===================================================================================
Balance, End of Year................................................ 31.1 32.9 33.2 38.7 43.1 46.0 47.8
Medicare: Federal Hospital Insurance (HI) Trust Fund
Balance, start of year.............................................. 138.4 168.1 197.2 230.9 269.8 313.3 360.0
Income:
Governmental receipts............................................. 135.7 147.4 154.3 163.1 171.9 183.1 192.0
Proprietary receipts.............................................. 1.4 1.4 1.5 1.6 1.6 1.7 1.9
Receipts from Federal funds:
Interest........................................................ 10.5 12.3 13.7 15.5 17.6 20.0 22.6
Other........................................................... 12.1 10.8 11.4 11.8 12.5 13.2 14.0
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 159.7 171.9 180.9 192.0 203.6 218.1 230.4
Outgo:
To the public..................................................... 130.0 141.4 147.2 153.0 160.1 171.4 176.8
Payments to Other funds........................................... .......... 1.3 .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 130.0 142.8 147.2 153.0 160.1 171.4 176.8
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. 19.2 16.8 19.9 23.5 25.9 26.7 31.0
Interest........................................................ 10.5 12.3 13.7 15.5 17.6 20.0 22.6
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 29.7 29.1 33.7 38.9 43.5 46.7 53.6
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
[[Page 311]]
Other adjustments............................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 29.7 29.1 33.7 38.9 43.5 46.7 53.6
===================================================================================
Balance, end of year................................................ 168.1 197.2 230.9 269.8 313.3 360.0 413.6
Medicare: Federal Supplementary Medical Insurance (SMI) Trust Fund
Balance, start of year.............................................. 45.6 45.9 39.5 39.3 40.0 37.8 37.4
Income:
Governmental receipts............................................. .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts.............................................. 20.5 22.0 25.5 28.3 29.8 33.3 36.1
Receipts from Federal funds:
Interest........................................................ 3.2 3.0 2.7 2.7 2.6 2.5 2.6
Other........................................................... 67.3 73.3 83.7 89.5 92.5 102.0 110.3
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 90.9 98.4 112.0 120.5 124.9 137.7 148.9
Outgo:
To the public..................................................... 90.7 104.8 112.2 119.8 127.2 138.1 144.3
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 90.7 104.8 112.2 119.8 127.2 138.1 144.3
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. -2.9 -9.5 -2.9 -1.9 -4.9 -2.9 2.1
Interest........................................................ 3.2 3.0 2.7 2.7 2.6 2.5 2.6
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 0.2 -6.4 -0.2 0.8 -2.3 -0.4 4.6
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 0.2 -6.4 -0.2 0.8 -2.3 -0.4 4.6
===================================================================================
Balance, end of year................................................ 45.9 39.5 39.3 40.0 37.8 37.4 42.0
Military Retirement Fund
Balance, start of year.............................................. 151.9 158.0 163.6 169.8 176.3 183.0 190.0
Income:
Governmental receipts............................................. .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts.............................................. .......... .......... .......... .......... .......... .......... ..........
Receipts from Federal funds:
Interest........................................................ 12.3 12.4 12.6 12.8 13.1 13.3 13.6
Other........................................................... 26.7 27.5 28.8 29.9 30.9 32.0 33.2
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 39.0 39.9 41.4 42.7 44.0 45.4 46.7
Outgo:
To the public..................................................... 32.8 34.2 35.3 36.3 37.3 38.3 39.4
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 32.8 34.2 35.3 36.3 37.3 38.3 39.4
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. -6.1 -6.8 -6.4 -6.4 -6.4 -6.3 -6.2
Interest........................................................ 12.3 12.4 12.6 12.8 13.1 13.3 13.6
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 6.1 5.6 6.2 6.4 6.7 7.0 7.4
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 6.1 5.6 6.2 6.4 6.7 7.0 7.4
===================================================================================
Balance, end of year................................................ 158.0 163.6 169.8 176.3 183.0 190.0 197.4
Railroad Retirement Trust Funds
Balance, start of year.............................................. 14.3 15.5 16.6 17.7 18.9 20.2 21.4
[[Page 312]]
Income:
Governmental receipts............................................. 4.3 4.4 4.5 4.6 4.7 4.8 4.9
Proprietary receipts.............................................. .......... .......... .......... .......... .......... .......... ..........
Receipts from Federal funds:
Interest........................................................ 1.2 1.7 1.2 1.3 1.4 1.5 1.5
Other........................................................... 0.5 0.3 0.3 0.4 0.4 0.4 0.4
Receipts from Trust funds......................................... 3.7 3.2 3.8 3.8 3.8 3.9 3.7
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 9.7 9.7 9.9 10.1 10.3 10.5 10.4
Outgo:
To the public..................................................... 8.2 8.4 8.6 8.7 8.9 9.0 9.2
Payments to Other funds........................................... 0.2 0.2 0.2 0.2 0.2 0.2 0.2
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 8.4 8.7 8.8 8.9 9.1 9.2 9.4
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. 0.1 -0.7 -0.1 -0.1 -0.2 -0.2 -0.5
Interest........................................................ 1.2 1.7 1.2 1.3 1.4 1.5 1.5
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 1.2 1.0 1.1 1.2 1.2 1.3 1.0
Adjustments:
Transfers/lapses (net).......................................... * * * .......... .......... .......... ..........
Other adjustments............................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 1.2 1.1 1.1 1.2 1.2 1.3 1.0
===================================================================================
Balance, end of year................................................ 15.5 16.6 17.7 18.9 20.2 21.4 22.4
Unemployment Trust Fund
Balance, start of year.............................................. 77.7 86.7 93.4 99.8 107.5 115.6 122.3
Income:
Governmental receipts............................................. 27.6 29.6 31.9 33.5 35.4 35.3 37.6
Proprietary receipts.............................................. * -0.1 -0.1 -0.1 -0.1 -0.1 -0.1
Receipts from Federal funds:
Interest........................................................ 5.2 5.8 6.1 6.5 7.0 7.4 7.8
Other........................................................... 0.4 0.5 0.5 0.5 0.5 0.5 0.5
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 33.3 35.8 38.6 40.6 42.9 43.2 45.9
Outgo:
To the public..................................................... 24.3 29.1 32.1 32.9 34.7 36.5 38.4
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 24.3 29.1 32.1 32.9 34.7 36.5 38.4
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. 3.8 0.9 0.4 1.2 1.2 -0.7 -0.3
Interest........................................................ 5.2 5.8 6.1 6.5 7.0 7.4 7.8
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 9.0 6.7 6.5 7.7 8.1 6.7 7.5
Adjustments:
Transfers/lapses (net).......................................... -* -* -* .......... .......... .......... ..........
Other adjustments............................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 9.0 6.7 6.4 7.7 8.1 6.7 7.5
===================================================================================
Balance, end of year................................................ 86.7 93.4 99.8 107.5 115.6 122.3 129.9
Veterans Life Insurance Trust Funds
Balance, start of year.............................................. 13.7 13.6 13.4 13.1 12.7 12.3 11.8
Income:
Governmental receipts............................................. .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts.............................................. 0.8 0.8 0.7 0.7 0.7 0.6 0.6
Receipts from Federal funds:
Interest........................................................ 1.0 1.0 1.0 0.9 0.9 0.8 0.8
Other........................................................... * * * * * * *
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
[[Page 313]]
Subtotal, income.............................................. 1.8 1.8 1.7 1.6 1.5 1.4 1.3
Outgo:
To the public..................................................... 1.9 2.0 2.0 2.0 2.0 1.9 1.9
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 1.9 2.0 2.0 2.0 2.0 1.9 1.9
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. -1.2 -1.2 -1.3 -1.3 -1.3 -1.3 -1.3
Interest........................................................ 1.0 1.0 1.0 0.9 0.9 0.8 0.8
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. -0.1 -0.2 -0.3 -0.4 -0.4 -0.5 -0.5
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... .......... * .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... -0.1 -0.2 -0.3 -0.4 -0.4 -0.5 -0.5
===================================================================================
Balance, end of year................................................ 13.6 13.4 13.1 12.7 12.3 11.8 11.2
Other Trust Funds
Balance, start of year.............................................. 34.4 35.4 36.1 36.6 37.3 38.0 30.4
Income:
Governmental receipts............................................. 2.9 2.8 2.8 2.8 2.9 3.0 3.0
Proprietary receipts.............................................. 3.5 3.6 3.6 3.7 3.8 3.8 3.9
Receipts from Federal funds:
Interest........................................................ 2.2 2.2 2.2 2.2 2.3 2.3 2.4
Other........................................................... 1.9 2.5 1.8 1.8 1.8 1.9 1.9
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 10.6 11.1 10.4 10.6 10.8 11.0 11.2
Outgo:
To the public..................................................... 8.9 9.7 9.3 9.3 9.4 17.9 22.6
Payments to Other funds........................................... 0.5 0.6 0.6 0.6 0.6 0.7 0.7
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 9.4 10.3 9.9 9.9 10.1 18.5 23.3
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. -1.1 -1.5 -1.7 -1.6 -1.6 -9.9 -14.4
Interest........................................................ 2.2 2.2 2.2 2.2 2.3 2.3 2.4
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 1.2 0.8 0.5 0.7 0.7 -7.6 -12.0
Adjustments:
Transfers/lapses (net).......................................... -0.4 -* -* .......... .......... .......... ..........
Other adjustments............................................... 0.2 -* * .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 1.0 0.7 0.5 0.7 0.7 -7.6 -12.0
===================================================================================
Balance, end of year................................................ 35.4 36.1 36.6 37.3 38.0 30.4 18.4
--------------------------------------------------------------------------------------------------------------------------------------------------------
* Less than $50 million.
Note: Balances shown include committed and uncommitted cash balances.
[[Page 314]]
Table 15-5. INCOME, OUTGO, AND BALANCES OF SELECTED FEDERAL FUNDS
(In billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
2000 -----------------------------------------------------------------------
actual 2001 2002 2003 2004 2005 2006
--------------------------------------------------------------------------------------------------------------------------------------------------------
Abandoned Mine Reclamation Fund
Balance, start of year.............................................. 1.7 1.8 1.8 1.9 2.1 2.3 2.2
Income:
Governmental receipts............................................. 0.3 0.3 0.3 0.3 0.3 .......... ..........
Proprietary receipts.............................................. .......... * * * * * *
Receipts from Federal funds:
Interest........................................................ 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Other........................................................... .......... .......... .......... .......... .......... .......... ..........
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 0.4 0.4 0.4 0.4 0.4 0.1 0.1
Outgo:
To the public..................................................... 0.3 0.4 0.2 0.2 0.2 0.2 0.2
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 0.3 0.4 0.2 0.2 0.2 0.2 0.2
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. * -0.1 0.1 0.1 0.1 -0.2 -0.2
Interest........................................................ 0.1 0.1 0.1 0.1 0.1 0.1 0.1
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 0.1 -* 0.1 0.2 0.2 -0.1 -0.2
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... .......... -* .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 0.1 -* 0.1 0.2 0.2 -0.1 -0.2
===================================================================================
Balance, end of year................................................ 1.8 1.8 1.9 2.1 2.3 2.2 2.0
Nuclear Waste Disposal Fund
Balance, start of year.............................................. 7.9 9.2 10.3 11.4 12.2 13.1 14.0
Income:
Governmental receipts............................................. .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts.............................................. 0.7 0.6 0.6 0.6 0.6 0.6 0.6
Receipts from Federal funds:
Interest........................................................ 0.9 0.6 0.7 0.7 0.8 0.8 0.9
Other........................................................... .......... .......... .......... .......... .......... .......... ..........
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 1.6 1.2 1.3 1.4 1.4 1.5 1.5
Outgo:
To the public..................................................... 0.3 0.2 0.2 0.5 0.6 0.6 0.6
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 0.3 0.2 0.2 0.5 0.6 0.6 0.6
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. 0.4 0.4 0.5 0.1 0.1 0.1 *
Interest........................................................ 0.9 0.6 0.7 0.7 0.8 0.8 0.9
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 1.3 1.0 1.2 0.8 0.8 0.9 0.9
Adjustments:
Transfers/lapses (net).......................................... .......... .......... .......... .......... .......... .......... ..........
Other adjustments............................................... * * -* .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... 1.3 1.0 1.1 0.8 0.8 0.9 0.9
===================================================================================
Balance, end of year................................................ 9.2 10.3 11.4 12.2 13.1 14.0 14.9
Overseas Private Investment Corporation
Balance, start of year.............................................. 3.0 3.0 3.3 3.5 3.8 4.1 4.4
Income:
Governmental receipts............................................. .......... .......... .......... .......... .......... .......... ..........
Proprietary receipts.............................................. 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Receipts from Federal funds:
Interest........................................................ 0.2 0.2 0.2 0.2 0.3 0.3 0.3
Other........................................................... * * * * * * *
[[Page 315]]
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, income.............................................. 0.3 0.3 0.3 0.4 0.4 0.4 0.4
Outgo:
To the public..................................................... 0.3 0.1 0.1 0.1 0.1 0.1 0.1
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Subtotal, outgo............................................... 0.3 0.1 0.1 0.1 0.1 0.1 0.1
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. -0.2 * 0.1 -* -0.1 -0.1 -0.1
Interest........................................................ 0.2 0.2 0.2 0.3 0.4 0.4 0.4
-----------------------------------------------------------------------------------
Subtotal, surplus or deficit (-).............................. 0.1 0.3 0.3 0.3 0.3 0.3 0.3
Adjustments:
Transfers/lapses (net).......................................... -* -* -* .......... .......... .......... ..........
Other adjustments............................................... .......... .......... .......... .......... .......... .......... ..........
-----------------------------------------------------------------------------------
Total, change in fund balance................................... * 0.2 0.3 0.3 0.3 0.3 0.3
===================================================================================
Balance, end of year................................................ 3.0 3.3 3.5 3.8 4.1 4.4 4.8
Uranium Enrichment Decontamination and Decommissioning Fund
Balance, start of year.............................................. 1.7 2.2 2.6 3.1 3.6 4.1 4.6
Income:
Governmental receipts............................................. 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Proprietary receipts.............................................. .......... .......... .......... .......... .......... .......... ..........
Receipts from Federal funds:
Interest........................................................ 0.1 0.1 0.2 0.2 0.2 0.2 0.3
Other........................................................... 0.4 0.4 0.4 0.5 0.5 0.5 0.5
Receipts from Trust funds......................................... .......... .......... .......... .......... .......... .......... ..........
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Subtotal, income.............................................. 0.7 0.7 0.8 0.8 0.9 0.9 1.0
Outgo:
To the public..................................................... 0.2 0.4 0.4 0.4 0.4 0.4 0.4
Payments to Other funds........................................... .......... .......... .......... .......... .......... .......... ..........
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Subtotal, outgo............................................... 0.2 0.4 0.4 0.4 0.4 0.4 0.4
Change in fund balance:
Surplus or deficit (-):
Excluding interest.............................................. 0.4 0.2 0.3 0.3 0.3 0.3 0.3
Interest........................................................ 0.1 0.1 0.2 0.2 0.2 0.2 0.3
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Subtotal, surplus or deficit (-).............................. 0.5 0.3 0.4 0.5 0.5 0.5 0.6
Adjustments:
Transfers/lapses (net).......................................... .......... * .......... .......... .......... .......... ..........
Other adjustments............................................... .......... 0.1 0.1 .......... .......... .......... ..........
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Total, change in fund balance................................... 0.5 0.4 0.5 0.5 0.5 0.5 0.6
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Balance, end of year................................................ 2.2 2.6 3.1 3.6 4.1 4.6 5.2
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* Less than $50 million.
Note: Balances shown include committed and uncommitted cash balances.