[Appendix]
[Detailed Budget Estimates by Agency]
[Small Business Administration]
[From the U.S. Government Printing Office, www.gpo.gov]
THE BUDGET FOR FISCAL YEAR 2003
SMALL BUSINESS ADMINISTRATION
For 2003, the Small Business Administration (SBA) budget requests
$798 million in new budget authority. SBA's continuing operations will
provide over $16 billion in new loans to small businesses, funding for
non-credit programs, and funding for the disaster loan program. SBA has
revised its 7(a) loan subsidy model to more accurately reflect the costs
of the program.
Federal Funds
General and special funds:
Salaries and Expenses
For necessary expenses, not otherwise provided for, of the Small
Business Administration as authorized by Public Law 105-135, including
hire of passenger motor vehicles as authorized by 31 U.S.C. 1343 and
1344, and not to exceed $3,500 for official reception and representation
expenses, [$308,476,000] $362,106,000: Provided, That the Administrator
is authorized to charge fees to cover the cost of publications developed
by the Small Business Administration, and certain loan servicing
activities: Provided further, That, notwithstanding 31 U.S.C. 3302,
revenues received from all such activities shall be credited to this
account, to be available for carrying out these purposes without further
appropriations: Provided further, That $88,000,000 shall be available to
fund grants for performance in fiscal year [2002] 2003 or fiscal year
[2003] 2004 as authorized by section 21 of the Small Business Act, as
amended. In addition to amounts otherwise available from collections, 5
percent of such collections, not to exceed $3,000,000, for qualified
expenses of delinquent non-tax debt collection. (Departments of
Commerce, Justice, and State, the Judiciary, and Related Agencies
Appropriations Act, 2002; additional authorizing legislation required.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Government contracting and
minority enterprise development. 40 30 32
00.02 Disaster assistance............... 117 155 108
00.04 Management and administration..... 134 116 115
00.05 Executive direction............... 4 3 4
00.06 General counsel................... 8 8 8
00.07 Congressional and legislative
affairs......................... 1 1 1
00.08 Hearings and appeals.............. 1 1 1
00.09 Communications and publications... 2 2 3
00.11 Advocacy.......................... 5 6 7
00.12 Field operations.................. 1 1 1
00.13 Equal employment opportunity and
civil rights compliance......... 2 2 2
00.14 Regional and district offices..... 136 141 150
00.15 Chief financial officer........... 8 8 9
00.16 Capital Access.................... 61 81 49
00.17 Entrepreneurial development....... 116 117 115
00.18 Small disadvantaged businesses.... 2 2 2
00.19 Veteran's Business Development.... 5 1 1
00.20 Administrative expenses........... 10 10 9
--------- --------- ----------
10.00 Total new obligations........... 653 685 617
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Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 5 41 1
22.00 New budget authority (gross)...... 692 645 617
22.21 Unobligated balance transferred to
other accounts.................. -1
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 696 686 618
23.95 Total new obligations............. -653 -685 -617
23.98 Unobligated balance expiring or
withdrawn....................... -2
24.40 Unobligated balance carried
forward, end of year............ 41 1 1
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New budget authority (gross), detail:
Discretionary:
40.00 Appropriation[P.L. 106-553 &
P.L. 107-20].................. 451 348 362
40.35 Appropriation rescinded[P.L.
107-20]....................... -30
40.77 Reduction pursuant to P.L. 106-
553 (0.22 percent)............ -1
42.00 Transferred from other accounts. 5
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 425 348 362
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 267 297 255
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 692 645 617
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Change in obligated balances:
72.40 Obligated balance, start of year.. 250 311 376
73.10 Total new obligations............. 653 685 617
73.20 Total outlays (gross)............. -587 -620 -574
73.40 Adjustments in expired accounts
(net)........................... -5
74.40 Obligated balance, end of year.... 311 376 419
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 458 493 458
86.93 Outlays from discretionary
balances........................ 129 127 116
--------- --------- ----------
87.00 Total outlays (gross)........... 587 620 574
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
Federal sources:
88.00 Payments from business loan
program account........... -129 -129 -129
88.00 Payments from disaster loan
program account........... -128 -164 -121
88.00 Federal sources............. -6 -1 -2
88.40 Non-Federal sources........... -5 -3 -3
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -268 -297 -255
Against gross budget authority only:
88.96 Portion of offsetting
collections (cash) credited to
expired accounts.............. 1
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 425 348 362
90.00 Outlays........................... 319 323 319
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Budget Authority and Outlays Excluding Full Funding for Federal Retiree
Costs (in millions of dollars)
----------------------------------------------------------------------------
2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 415 338 353
90.00 Outlays........................... 309 313 310
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The appropriation for this account is necessary to cover the
administrative expenses for headquarters and non-credit programs.
Object Classification (in millions of dollars)
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Identification code 73-0100-0-1-376 2001 actual 2002 est. 2003 est.
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Personnel compensation:
11.1 Full-time permanent............. 174 181 190
11.3 Other than full-time permanent.. 8 7 8
11.5 Other personnel compensation.... 4 3 3
--------- --------- ----------
11.9 Total personnel compensation.. 186 191 201
12.1 Civilian personnel benefits....... 52 56 59
21.0 Travel and transportation of
persons......................... 9 4 5
22.0 Transportation of things.......... 3
23.1 Rental payments to GSA............ 29 31 32
23.3 Communications, utilities, and
miscellaneous charges........... 6 5 4
24.0 Printing and reproduction......... 1 1 1
25.2 Other services.................... 51 36 66
26.0 Supplies and materials............ 1
31.0 Equipment......................... 6 2 3
41.0 Grants, subsidies, and
contributions................... 193 202 133
Undistributed:
92.0 Undistributed (disaster loan
making)....................... 88 125 78
92.0 Undistributed (disaster loan
servicing).................... 29 30 30
[[Page 1054]]
92.0 Undistributed (SDB)............. 2 2 2
--------- --------- ----------
99.9 Total new obligations........... 653 685 617
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Personnel Summary
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
1001 Total compensable workyears: Full-
time equivalent employment...... 3,948 4,451 4,352
---------------------------------------------------------------------------
Note.--The personnel summary includes regular (non-disaster) full-
time equivalents (FTEs) of 2860, 2784, and 2640 in 2001, 2002, and 2003
respectively.
Office of Inspector General
For necessary expenses of the Office of Inspector General in
carrying out the provisions of the Inspector General Act of 1978, as
amended (5 U.S.C. App.), [$11,464,000] $15,011,000. (Departments of
Commerce, Justice, and State, the Judiciary, and Related Agencies
Appropriations Act, 2002; additional authorizing legislation required.)
Program and Financing (in millions of dollars)
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Identification code 73-0200-0-1-376 2001 actual 2002 est. 2003 est.
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Obligations by program activity:
00.01 General Office.................... 1 1 1
00.02 Audit............................. 5 5 6
00.03 Investigations.................... 5 5 7
00.04 Management / Legal Counsel /
Inspection and Evaluation....... 1 1 1
00.05 Administrative expenses........... 1 1 1
--------- --------- ----------
10.00 Total new obligations........... 13 13 16
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Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 1
22.00 New budget authority (gross)...... 14 13 16
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 15 13 16
23.95 Total new obligations............. -13 -13 -16
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 13 12 15
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 1 1 1
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 14 13 16
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 2 2
73.10 Total new obligations............. 13 13 16
73.20 Total outlays (gross)............. -13 -13 -16
74.40 Obligated balance, end of year.... 2
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 12 12 15
86.93 Outlays from discretionary
balances........................ 1 1
--------- --------- ----------
87.00 Total outlays (gross)........... 13 13 16
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash)
from: Payments from disaster
loan program account.......... -1 -1 -1
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 13 12 15
90.00 Outlays........................... 12 12 15
---------------------------------------------------------------------------
Budget Authority and Outlays Excluding Full Funding for Federal Retiree
Costs (in millions of dollars)
----------------------------------------------------------------------------
2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 12 11 14
90.00 Outlays........................... 12 11 14
---------------------------------------------------------------------------
The budget proposes $15 million in new budget authority and $500
thousand transferred from the Disaster Loans Program account for a total
of $15.5 million for the Office of Inspector General (OIG) for 2003.
This appropriation provides funds for agency-wide audit, investigative,
and inspection/evaluation functions to promote economy and efficiency in
agency operations and to prevent and detect fraud, waste, and abuse.
Object Classification (in millions of dollars)
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Identification code 73-0200-0-1-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Personnel compensation:
11.1 Full-time permanent............. 7 8 9
11.5 Other personnel compensation.... 1 1 1
--------- --------- ----------
11.9 Total personnel compensation.. 8 9 10
12.1 Civilian personnel benefits....... 3 3 3
25.1 Advisory and assistance services.. 2 1 3
--------- --------- ----------
99.9 Total new obligations........... 13 13 16
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Personnel Summary
----------------------------------------------------------------------------
Identification code 73-0200-0-1-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
1001 Total compensable workyears: Full-
time equivalent employment...... 108 120 130
---------------------------------------------------------------------------
Public enterprise funds:
Surety Bond Guarantees Revolving Fund
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4156-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
09.01 Reimbursable obligations.......... 13 8 8
--------- --------- ----------
10.00 Total new obligations (object
class 42.0)................... 13 8 8
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 32 26 21
22.00 New budget authority (gross)...... 6 4 4
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 38 30 25
23.95 Total new obligations............. -13 -8 -8
24.40 Unobligated balance carried
forward, end of year............ 26 21 18
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
68.00 Spending authority from
offsetting collections
(gross): Offsetting
collections (cash)............ 6 4 4
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 1 1 1
73.10 Total new obligations............. 13 8 8
73.20 Total outlays (gross)............. -14 -9 -8
74.40 Obligated balance, end of year.... 1 1 1
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 6 4 4
86.93 Outlays from discretionary
balances........................ 7 4 4
--------- --------- ----------
87.00 Total outlays (gross)........... 14 9 8
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -6 -4 -4
----------------------------------------------------------------------------
[[Page 1055]]
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... 7 5 4
---------------------------------------------------------------------------
SBA is authorized to issue bond guarantees to surety companies for
construction, service, and supply contracts that do not exceed
$2,000,000 and to reimburse these sureties up to 90 percent of the
losses sustained if the contractor defaults. SBA's guarantees provide
the incentive necessary for sureties to issue bonds to small contractors
who could not otherwise compete in the contracting industry.
In 2003, the budget proposes a $1.7 billion program level that is
anticipated to be sufficient to accommodate demand from prior-approval
and preferred sureties. This program does not require a subsidy
appropriation.
Statement of Operations (in millions of dollars)
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Identification code 73-4156-0-3-376 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 14 3 6 6
0102 Expense........................... -14 -10 -6 -6
------------ -------------- ------------ -------------
0105 Net income or loss (-)............ -7
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Balance Sheet (in millions of dollars)
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Identification code 73-4156-0-3-376 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 33 26 42 42
Investments in US securities:
1106 Receivables, net.............. 7 6
------------ -------------- ------------ -------------
1999 Total assets.................... 40 32 42 42
LIABILITIES:
2201 Non-Federal liabilities: Accounts
payable......................... 37 14 36 36
------------ -------------- ------------ -------------
2999 Total liabilities............... 37 14 36 36
NET POSITION:
3100 Appropriated capital.............. 303 293 332 332
3300 Cumulative results of operations.. -300 -275 -326 -326
------------ -------------- ------------ -------------
3999 Total net position.............. 3 18 6 6
------------ -------------- ------------ -------------
4999 Total liabilities and net position 40 32 42 42
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Credit accounts:
Business Loans Program Account
For the cost of direct loans, [$1,860,000] $3,726,000, to be
available until expended; and for the cost of guaranteed loans,
[$78,000,000] $85,360,000, as authorized by 15 U.S.C. 631 note, of which
$45,000,000 shall remain available until September 30, [2003] 2004:
Provided, That such costs, including the cost of modifying such loans,
shall be as defined in section 502 of the Congressional Budget Act of
1974, as amended: Provided further, That during fiscal year [2002] 2003
commitments to guarantee loans under section 503 of the Small Business
Investment Act of 1958, as amended, shall not exceed $4,500,000,000[, as
provided under section 20(h)(1)(B)(ii) of the Small Business Act:
Provided further, That during fiscal year 2002 commitments for general
business loans authorized under section 7(a) of the Small Business Act,
as amended, shall not exceed $10,000,000,000 without prior notification
of the Committees on Appropriations of the House of Representatives and
Senate in accordance with section 605 of this Act]: Provided further,
That during fiscal year [2002] 2003 commitments to guarantee loans for
debentures and participating securities under section 303(b) of the
Small Business Investment Act of 1958, as amended, shall not exceed the
levels established by section [20(h)(1)(C)] 20(i)(1)(C) of the Small
Business Act.
In addition, for administrative expenses to carry out the direct and
guaranteed loan programs, [$129,000,000] $133,769,000, which may be
transferred to and merged with the appropriations for Salaries and
Expenses. (Departments of Commerce, Justice, and State, the Judiciary,
and Related Agencies Appropriations Act, 2002; additional authorizing
legislation required.)
[For emergency expenses for the cost of loan subsidies and for loan
modifications as authorized by section 203 of this Act, for disaster
recovery activities and assistance related to the terrorist acts in New
York, Virginia, and Pennsylvania on September 11, 2001, for ``Business
Loans Program Account'', $75,000,000, to remain available until
expended, to be obligated from amounts made available in Public Law 107-
38.] (Emergency Supplemental Act, 2002.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loan subsidy............... 3 2 4
00.02 Guaranteed loan subsidy........... 142 175 85
00.05 Reestimate of direct loan......... 1 1
00.07 Reestimate of loan guarantee
subsidy......................... 30 102
00.08 Interest on reestimates of loan
guarantee subsidy............... 4 19
00.09 Administrative expenses........... 134 134 133
--------- --------- ----------
10.00 Total new obligations........... 314 433 222
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Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 98 120 92
22.00 New budget authority (gross)...... 333 405 222
22.10 Resources available from
recoveries of prior year
obligations..................... 1
22.22 Unobligated balance transferred
from other accounts............. 2
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 434 525 314
23.95 Total new obligations............. -314 -433 -222
24.40 Unobligated balance carried
forward, end of year............ 120 92 92
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 299 214 222
40.15 Appropriation [Terrorist
response]..................... 75
40.36 Unobligated balance rescinded... -6
40.77 Reduction pursuant to P.L. 106-
554 (0.22 percent)............ -1
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 298 283 222
Mandatory:
60.00 Appropriation................... 35 122
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 333 405 222
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 88 94 117
73.10 Total new obligations............. 314 433 222
73.20 Total outlays (gross)............. -289 -410 -244
73.40 Adjustments in expired accounts
(net)........................... -18
73.45 Recoveries of prior year
obligations..................... -1
74.40 Obligated balance, end of year.... 94 117 95
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 150 180 141
86.93 Outlays from discretionary
balances........................ 104 108 103
86.97 Outlays from new mandatory
authority....................... 35 122
--------- --------- ----------
87.00 Total outlays (gross)........... 289 410 244
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 333 405 222
90.00 Outlays........................... 289 410 244
---------------------------------------------------------------------------
Budget Authority and Outlays Excluding Full Funding for Federal Retiree
Costs (in millions of dollars)
----------------------------------------------------------------------------
2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 328 400 218
90.00 Outlays........................... 284 405 240
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
115001Micro loans....................... 30 26 27
--------- --------- ----------
115901Total direct loan levels.......... 30 26 27
Direct loan subsidy (in percent):
132001Micro loans....................... 8.95 6.78 13.05
--------- --------- ----------
[[Page 1056]]
132901Weighted average subsidy rate..... 8.95 6.78 13.05
Direct loan subsidy budget authority:
133001Micro loans....................... 3 2 3
--------- --------- ----------
133901Total subsidy budget authority.... 3 2 3
Direct loan subsidy outlays:
134001Micro loans....................... 1 1 2
--------- --------- ----------
134901Total subsidy outlays............. 1 1 2
Direct loan upward reestimate subsidy budget
authority:
135001Micro loans....................... 1 1
--------- --------- ----------
135901Total upward reestimate budget
authority....................... 1 1
Direct loan upward reestimate subsidy outlays:
136001Micro loans....................... 1 1
--------- --------- ----------
136901Total upward reestimate outlays... 1 1
Direct loan downward reestimate subsidy budget
authority:
137001Micro loans....................... -4
--------- --------- ----------
137901Total downward reestimate budget
authority....................... -4
Direct loan downward reestimate subsidy
outlays:
138001Micro loans....................... -4
--------- --------- ----------
138901Total downward reestimate subsidy
outlays......................... -4
----------------------------------------------------------------------------
Guaranteed loan levels supportable by subsidy
budget authority:
215001Microloan guarantees.............. 2 2
215002General business--7(a)............ 9,122 7,290 4,850
215002General business--7(a)-terrorist
response........................ 4,491
215003General business--7(a) DELTA...... 1 20
215004Section 504....................... 2,269 4,500 4,500
215005Section 504 DELTA................. 3
215006SBIC debentures................... 487 2,500 3,000
215007SBIC participating securities..... 2,109 3,500 4,000
215008New Market Venture Capital........ 152
--------- --------- ----------
215901Total loan guarantee levels....... 13,990 22,458 16,350
Guaranteed loan subsidy (in percent):
232001Microloan guarantees.............. 7.95 8.17 8.42
232002General business--7(a)............ 1.17 1.07 1.76
232002General business--7(a)-terrorist
response........................ 0.00 1.67 1.78
232003General business--7(a) DELTA...... 1.88 1.73 2.40
232004Section 504....................... 0.00 0.00 0.00
232005Section 504 DELTA................. 0.89 0.84 0.88
232006SBIC debentures................... 0.00 0.00 0.00
232007SBIC participating securities..... 1.31 0.00 0.00
232008New Market Venture Capital........ 14.44 14.47 15.46
232009Y2k............................... 4.04 0.00 0.00
--------- --------- ----------
232901Weighted average subsidy rate..... 0.96 0.68 0.51
Guaranteed loan subsidy budget authority:
233001Microloan guarantees..............
233002General business--7(a)............ 107 78 85
233002General business--7(a)-terrorist
response........................ 75
233003General business--7(a) DELTA......
233004Section 504.......................
233005Section 504 DELTA.................
233006SBIC debentures...................
233007SBIC participating securities..... 28
233008New Market Venture Capital........
--------- --------- ----------
233901Total subsidy budget authority.... 135 153 85
Guaranteed loan subsidy outlays:
234001Microloan guarantees.............. 1
234002General business--7(a)............ 122 89 81
234002General business--7(a)-terrorist
response........................ 47
234003General business--7(a) DELTA...... 1
234004Section 504....................... 1
234005Section 504 DELTA.................
234006SBIC debentures...................
234007SBIC participating securities..... 28
234008New Market Venture Capital........ 22
--------- --------- ----------
234901Total subsidy outlays............. 153 158 81
Guaranteed loan upward reestimate subsidy
budget authority:
235001Microloan guarantees..............
235002General business--7(a)............ 15
235003General business--7(a) DELTA......
235004Section 504....................... 21
235005Section 504 DELTA.................
235006SBIC debentures................... 34 15
235007SBIC participating securities..... 70
--------- --------- ----------
235901Total upward reestimate budget
authority....................... 34 121
Guaranteed loan upward reestimate subsidy
outlays:
236001Microloan guarantees..............
236002General business--7(a)............ 15
236003General business--7(a) DELTA......
236004Section 504....................... 21
236005Section 504 DELTA.................
236006SBIC debentures................... 34 15
236007SBIC participating securities..... 70
--------- --------- ----------
236901Total upward reestimate subsidy
outlays......................... 34 121
Guaranteed loan downward reestimate subsidy
budget authority:
237001Microloan guarantees..............
237002General business--7(a)............ -117 -179
237003General business--7(a) DELTA......
237004Section 504....................... -180 -110
237005Section 504 DELTA.................
237006SBIC debentures................... -91 -35
237007SBIC participating securities..... -334 -38
--------- --------- ----------
237901Total downward reestimate subsidy
budget authority................ -722 -362
Guaranteed loan downward reestimate subsidy
outlays:
238001Microloan guarantees..............
238002General business--7(a)............ -117 -179
238003General business--7(a) DELTA......
238004Section 504....................... -180 -110
238005Section 504 DELTA.................
238006SBIC debentures................... -91 -35
238007SBIC participating securities..... -334 -38
--------- --------- ----------
238901Total downward reestimate subsidy
outlays......................... -722 -362
----------------------------------------------------------------------------
Administrative expense data:
351001Budget authority.................. 134 134 133
359001Outlays from new authority........ 129 129 129
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this account records, for this program, the subsidy costs associated
with the direct loans obligated and loan guarantees committed in 1992
and beyond (including modifications of direct loans or loan guarantees
that resulted from obligations or commitments in any year), as well as
administrative expenses of this program. The subsidy amounts are
estimated on a present value basis; the administrative expenses are
estimated on a cash basis.
For 2003, the budget proposes $218.5 million in new budget authority
for the Business Loans Program account. This amount will be used to
administer the loan programs and support 7(a) loans and $26.6 million in
loans through the Microloan Direct program. For all other loan programs,
borrowers fees are sufficient to cover subsidy obligations.
The Section 7(a) program provides general business credit
assistance. The requested program level for 2003 is $4.85 billion. The
Section 504 CDC Program is for long-term fixed rate financing and will
require a program level of $4.5 billion in 2003. The Small Business
Investment Companies (SBIC) program provides debt and equity capital.
The budget proposes a program level of $4 billion for SBIC Participating
Securities and $3 billion for SBIC Debentures. The Microloan Direct
program provides loans of $35,000 or less through intermediaries.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
12.1 Civilian personnel benefits....... 10 10 8
25.2 Other services.................... 124 124 125
41.0 Grants, subsidies, and
contributions................... 180 299 89
--------- --------- ----------
99.9 Total new obligations........... 314 433 222
---------------------------------------------------------------------------
[[Page 1057]]
Business Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4148-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loans...................... 31 26 27
00.02 Interest on Treasury borrowing.... 42 45 50
Other expenses:
00.03 Other expenses.................. 2 2
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal (1 level)............ 73 73 79
08.02 Payment of downward reestimate to
a receipt account............... 3
08.04 Payment of interest on sownward
reestimate to a receipt account. 1
--------- --------- ----------
08.91 Direct Program by Activities--
Subtotal (1 level)............ 4
--------- --------- ----------
10.00 Total new obligations........... 73 77 79
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Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 430 317
22.00 New financing authority (gross)... -19 86 88
22.60 Portion applied to repay debt..... -21 -326 -9
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 390 77 79
23.95 Total new obligations............. -73 -77 -79
24.40 Unobligated balance carried
forward, end of year............ 317
----------------------------------------------------------------------------
New financing authority (gross), detail:
Discretionary:
47.00 Authority to borrow............. 27 19 19
Spending authority from offsetting
collections:
68.00 Offsetting collections (cash)... -58 67 69
68.10 Change in receivables from
program account............... 12
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)....... -46 67 69
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... -19 86 88
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 32 39 56
73.10 Total new obligations............. 73 77 79
73.20 Total financing disbursements
(gross)......................... -54 -60 -64
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... -12
74.40 Obligated balance, end of year.... 39 56 71
87.00 Total financing disbursements
(gross)......................... 54 60 64
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Federal sources: Payments from
program account............. -2 -2 -2
Non-Federal sources:
88.40 Repayments of principal, net -13 -15 -15
88.40 Federal sources............. -1
88.40 Interest received on loans.. -25 -26 -27
88.40 Other income................ 98 -23 -25
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ 58 -67 -69
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. -12
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 27 19 19
90.00 Financing disbursements........... 113 -7 -5
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4148-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........ 30 25 26
--------- --------- ----------
1150 Total direct loan obligations... 30 25 26
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 60 107 121
1231 Disbursements: Direct loan
disbursements................... 53 29 18
1251 Repayments: Repayments and
prepayments..................... -5 -10 -10
1263 Write-offs for default: Direct
loans........................... -1 -5 -5
--------- --------- ----------
1290 Outstanding, end of year........ 107 121 124
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this non-budgetary account records all cash flows to and from the
Government resulting from direct loans obligated in 1992 and beyond
(including modifications of direct loans that resulted from obligations
in any year). The amounts in this account are a means of financing and
are not included in the budget totals.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4148-0-3-376 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 463 305 572 572
Investments in US securities:
1106 Receivables, net.............. 68 41 71 71
1206 Non-Federal assets: Receivables,
net............................. 29 30 31 31
Net value of assets related to
post-1991 direct loans
receivable:
1401 Direct loans receivable, gross.. 2 107 4 4
1405 Allowance for subsidy cost (-).. -3 -2 -2
------------ -------------- ------------ -------------
1499 Net present value of assets
related to direct loans..... 2 104 2 2
1504 Net value of assets related to
post-1991 acquired defaulted
guaranteed loans receivable:
Foreclosed property.............
------------ -------------- ------------ -------------
1999 Total assets.................... 562 480 676 676
LIABILITIES:
Federal liabilities:
2101 Accounts payable................ 27 43 30 30
2104 Resources payable to Treasury... 535 437 646 646
------------ -------------- ------------ -------------
2999 Total liabilities............... 562 480 676 676
------------ -------------- ------------ -------------
4999 Total liabilities and net position 562 480 676 676
-----------------------------------------------------------------------------------------------
Business Guaranteed Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Default claims.................... 731 762 762
00.05 Other Expenses.................... 51 156 280
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal (1 level)............ 782 918 1,042
08.02 Payment of downward reestimate to
receipt account................. 558 285
08.03 Payment to liquidating account to
purchase loan assets (73-4154).. 12 4
08.04 Payment of interest on downward
reestimate to receipt account... 164 77
--------- --------- ----------
08.91 Direct Program by Activities--
Subtotal (1 level)............ 734 366
--------- --------- ----------
10.00 Total new obligations........... 1,516 1,284 1,042
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 964 169 11
22.00 New financing authority (gross)... 720 1,126 1,031
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 1,684 1,295 1,042
23.95 Total new obligations............. -1,516 -1,284 -1,042
24.40 Unobligated balance carried
forward, end of year............ 169 11
----------------------------------------------------------------------------
New financing authority (gross), detail:
Spending authority from offsetting
collections:
Discretionary:
68.00 Offsetting collections (cash). 716 1,126 1,031
68.10 Change in uncollected customer
payments from Federal
sources (unexpired)......... 4
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)..... 720 1,126 1,031
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. -58 -40 94
73.10 Total new obligations............. 1,516 1,284 1,042
[[Page 1058]]
73.20 Total financing disbursements
(gross)......................... -1,494 -1,150 -1,123
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... -4
74.40 Obligated balance, end of year.... -40 94 13
87.00 Total financing disbursements
(gross)......................... 1,494 1,150 1,123
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
Federal sources:
88.00 Payments from program
account................... -153 -158 -81
88.00 Upward restimate............ -30 -102
88.00 Interest on reestimate...... -4 -19
88.25 Interest on uninvested funds.. -1 -46 -48
Non-Federal sources:
88.40 Fees........................ -441 -700
88.40 Proceeds from loan asset
sales..................... -751 -248
88.40 other....................... 223 -112 -202
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -716 -1,126 -1,031
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. -4
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority...............
90.00 Financing disbursements........... 778 24 92
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on commitments:
2111 Limitation on guaranteed loans
made by private lenders......... 13,990 22,458 16,350
--------- --------- ----------
2150 Total guaranteed loan
commitments................... 13,990 22,458 16,350
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 31,739 35,107 38,175
2231 Disbursements of new guaranteed
loans........................... 10,963 9,111 10,111
2251 Repayments and prepayments........ -6,919 -5,338 -7,481
Adjustments:
2261 Terminations for default that
result in loans receivable.... -645 -670 -684
2264 Other adjustments, net.......... -31 -35 -36
--------- --------- ----------
2290 Outstanding, end of year........ 35,107 38,175 40,085
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 26,133 22,459 23,859
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 817 966 1,224
2331 Disbursements for guaranteed
loan claims................... 645 670 684
2351 Repayments of loans receivable.. -239 -214 -218
2361 Write-offs of loans receivable.. -150 -61 -74
2364 Other adjustments, net.......... -107 -137 -140
--------- --------- ----------
2390 Outstanding, end of year...... 966 1,224 1,476
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this non-budgetary account records all cash flows to and from the
Government resulting from loan guarantees committed in 1992 and beyond
(including modifications of loan guarantees that resulted from
commitments in any year). The amounts in this account are a means of
financing and are not included in the budget totals.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 906 924 943 960
Investments in US securities:
1106 Receivables, net.............. 120 179 183 199
1207 Non-Federal assets: Advances and
prepayments..................... 449 245 250 250
Net value of assets related to
post-1991 acquired defaulted
guaranteed loans receivable:
1501 Defaulted guaranteed loans
receivable, gross............. 817 966 1,224 1,476
1502 Interest receivable............. 37 30 31 31
1505 Allowance for subsidy cost (-).. -78 -32 -90 -90
------------ -------------- ------------ -------------
1599 Net present value of assets
related to defaulted
guaranteed loans............ 776 964 1,165 1,417
1901 Other Federal assets: Other assets 197 238 243 143
------------ -------------- ------------ -------------
1999 Total assets.................... 2,448 2,550 2,784 2,969
LIABILITIES:
2204 Non-Federal liabilities:
Liabilities for loan guarantees. 2,448 2,550 2,784 2,969
------------ -------------- ------------ -------------
2999 Total liabilities............... 2,448 2,550 2,784 2,969
------------ -------------- ------------ -------------
4999 Total liabilities and net position 2,448 2,550 2,784 2,969
-----------------------------------------------------------------------------------------------
Business Loan Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Interest Expense to Treasury...... 23 12 8
00.03 Msc. program expenses............. 44 13 10
00.05 Guaranteed loan default claims.... 213 145 135
--------- --------- ----------
10.00 Total new obligations........... 280 170 153
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 271 350
22.00 New budget authority (gross)...... 64 100 245
22.10 Resources available from
recoveries of prior year
obligations..................... 508 92
22.21 Unobligated balance transferred to
other accounts.................. -1
22.40 Capital transfer to general fund.. -185 -350 -31
22.60 Portion applied to repay debt..... -27 -22 -61
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 630 170 153
23.95 Total new obligations............. -280 -170 -153
24.40 Unobligated balance carried
forward, end of year............ 350
----------------------------------------------------------------------------
New budget authority (gross), detail:
Mandatory:
69.00 Offsetting collections (cash)... 64 100 245
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 593 326 344
73.10 Total new obligations............. 280 170 153
73.20 Total outlays (gross)............. -39 -60 -147
73.45 Recoveries of prior year
obligations..................... -508 -92
74.40 Obligated balance, end of year.... 326 344 350
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 39 60 147
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
Loan repayments:
Non-Federal sources:
88.40 Financing programs-
principal............... -17 -17 -45
88.40 Investment programs-
principal............... -5 -5 -15
88.40 Interest Income-Business.. -2 -17 -15
88.40 Interest income-Investment -1 -5 -3
88.40 collection on FFB loans... -27 -22 -15
88.40 Other Income-both Business
and Investment.......... -26 -67
88.40 Asset sale proceeds....... -12 -8 -85
--------- --------- ----------
[[Page 1059]]
88.90 Total, offsetting
collections (cash)........ -64 -100 -245
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... -25 -40 -98
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Business Loan Fund, Direct
Loans
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 326 204 125
1232 Disbursements: Purchase of loans
assets from the public.......... 14 12 11
Repayments:
1251 Repayments and prepayments...... -26 -21 -35
1252 Proceeds from loan asset sales
to the public or discounted... -12 -57
1262 Adjustments: Discount on loan
asset sales to the public or
discounted...................... -36
1263 Write-offs for default: Direct
loans........................... -62 -13 -11
--------- --------- ----------
1290 Outstanding, end of year........ 204 125 90
----------------------------------------------------------------------------
Small Business Investment
Company, Direct Loans
Section 503 Development
Company, Direct Loans
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 159 133 111
1251 Repayments: Repayments and
prepayments..................... -26 -22 -15
--------- --------- ----------
1290 Outstanding, end of year........ 133 111 96
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Business Loan Fund, Loan
Guarantees
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 2,010 1,501 1,176
2251 Repayments and prepayments........ -493 -313 -244
2261 Adjustments: Terminations for
default that result in loans
receivable...................... -16 -12 -11
--------- --------- ----------
2290 Outstanding, end of year........ 1,501 1,176 921
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 1,319 1,019 784
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 522 381 311
2331 Disbursements for guaranteed
loan claims................... 16 12 11
2351 Repayments of loans receivable.. -101 -55 -24
2361 Write-offs of loans receivable.. -38 -19 -11
2364 Other adjustments, net.......... -18 -8 -5
--------- --------- ----------
2390 Outstanding, end of year...... 381 311 282
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this account records, for this program, all cash flows to and from the
Government resulting from direct loans obligated and loan guarantees
committed prior to 1992. This account is shown on a cash basis. All new
activity in this program in 1992 and beyond (including modifications of
direct loans or loan guarantees that resulted from obligations or
commitments in any year) is recorded in corresponding program and
financing accounts.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 107 24 20 16
0102 Expense........................... -68 -154 -125 -100
------------ -------------- ------------ -------------
0105 Net income or loss (-)............ 39 -130 -105 -84
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 920 676 420 250
Investments in US securities:
1104 Agency securities, par........ 418 490 90 83
1107 Advances and prepayments...... 3 3 1 1
Non-Federal assets:
1206 Receivables, net................ 913 50 109 69
1207 Advances and prepayments........ 8 8 2 2
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 484 337 236 186
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -73 -26 -35 -30
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 411 311 201 156
1901 Other Federal assets: Other assets 115 88 34 14
------------ -------------- ------------ -------------
1999 Total assets.................... 2,788 1,626 857 575
LIABILITIES:
Federal liabilities:
2101 Accounts payable................ 48 27 22 15
2102 Interest payable................ 96 56 46
2103 Debt to the FFB................. 159 133 102 36
2105 Other Liabilities............... 1,459 987 385 152
Non-Federal liabilities:
2201 Accounts payable................ 108 4 35 35
2204 Liabilities for loan guarantees. 13 11 10
2207 Other Liabilities............... 905 475 246 281
------------ -------------- ------------ -------------
2999 Total liabilities............... 2,788 1,626 857 575
------------ -------------- ------------ -------------
4999 Total liabilities and net position 2,788 1,626 857 575
-----------------------------------------------------------------------------------------------
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
42.0 Insurance claims and indemnities.. 257 158 145
43.0 Interest and dividends............ 23 12 8
--------- --------- ----------
99.9 Total new obligations........... 280 170 153
---------------------------------------------------------------------------
Disaster Loans Program Account
For the cost of direct loans authorized by section 7(b) of the Small
Business Act, as amended, [$87,360,000] $76,140,000, to remain available
until expended: Provided, That such costs, including the cost of
modifying such loans, shall be as defined in section 502 of the
Congressional Budget Act of 1974, as amended.
In addition, for administrative expenses to carry out the direct
loan program, [$122,354,000] $122,141,000, which may be transferred to
and merged with appropriations for Salaries and Expenses, of which
$500,000 is for the Office of Inspector General of the Small Business
Administration for audits and reviews of disaster loans and the disaster
loan program and shall be transferred to and merged with appropriations
for the Office of Inspector General; of which [$112,000,000]
$111,787,000 is for direct administrative expenses of loan making and
servicing to carry out the direct loan program; and of which $9,854,000
is for indirect administrative expenses: Provided, That any amount in
excess of $9,854,000 to be transferred to and merged with appropriations
for Salaries and Expenses for indirect administrative expenses shall be
treated as a reprogramming of funds under section 605 of this Act and
shall not be available for obligation or expenditure except in
compliance with the procedures set forth in that section. (Departments
of Commerce, Justice, and State, the Judiciary, and Related Agencies
Appropriations Act, 2002; additional authorizing legislation required.)
[For emergency expenses for the cost of loan subsidies and for loan
modifications as authorized by section 202 of this Act, for disaster
recovery activities and assistance related to the terrorist acts in New
York, Virginia, and Pennsylvania on September 11, 2001, for ``Disaster
Loans Program Account'', $75,000,000, to remain available until
expended, to be obligated from amounts made available in Public Law 107-
38.] (Emergency Supplemental Act, 2002.)
[[Page 1060]]
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loan subsidy............... 153 239 111
00.05 Upward reestimate of direct loans. 347
00.06 Interest on upward reestimates of
direct loans.................... 159
00.09 Administrative expense............ 133 166 122
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal (1 level)............ 286 911 233
08.03 Gainsharing to Salaries and
Expenses........................ 3 3
--------- --------- ----------
10.00 Total new obligations........... 289 911 236
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 122 131 25
22.00 New budget authority (gross)...... 287 795 201
22.10 Resources available from
recoveries of prior year
obligations..................... 11 10 10
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 420 936 236
23.95 Total new obligations............. -289 -911 -236
24.40 Unobligated balance carried
forward, end of year............ 131 25
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 189 214 198
40.15 Appropriation (Supplemental
emergency).................... 75
41.00 Transferred to other accounts... -5
42.00 Transferred from other accounts. 100
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 284 289 198
Mandatory:
60.00 Appropriation................... 506
Discretionary:
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 3 3
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 287 795 201
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 31 68 87
73.10 Total new obligations............. 289 911 236
73.20 Total outlays (gross)............. -241 -882 -246
73.45 Recoveries of prior year
obligations..................... -11 -10 -10
74.40 Obligated balance, end of year.... 68 87 67
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 120 221 156
86.93 Outlays from discretionary
balances........................ 122 155 90
86.97 Outlays from new mandatory
authority....................... 506
--------- --------- ----------
87.00 Total outlays (gross)........... 241 882 246
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash)
from: Federal sources......... -3 -3
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 284 795 198
90.00 Outlays........................... 238 882 243
---------------------------------------------------------------------------
Budget Authority and Outlays Excluding Full Funding for Federal Retiree
Costs (in millions of dollars)
----------------------------------------------------------------------------
2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 280 791 194
90.00 Outlays........................... 234 878 239
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
115001Direct Disaster Loans............. 872 593 545
115001Direct loan levels -terrorist
attack.......................... 4 324
--------- --------- ----------
115901Total direct loan levels.......... 876 917 545
Direct loan subsidy (in percent):
132001Direct Disaster Loans............. 17.46 14.67 13.98
132001Direct loan levels -terrorist
attack.......................... 23.61 23.16 0.00
--------- --------- ----------
132901Weighted average subsidy rate..... 17.46 17.66 13.94
Direct loan subsidy budget authority:
133001Direct Disaster Loans............. 152 87 76
133001Direct loan levels -terrorist
attack.......................... 1 75
--------- --------- ----------
133901Total subsidy budget authority.... 153 162 76
Direct loan subsidy outlays:
134001Direct Disaster Loans............. 124 105 106
134001Direct loan levels -terrorist
attack.......................... 1 119 15
--------- --------- ----------
134901Total subsidy outlays............. 125 224 121
Direct loan upward reestimate subsidy budget
authority:
135001Direct Disaster Loans............. 506
--------- --------- ----------
135901Total upward reestimate budget
authority....................... 506
Direct loan upward reestimate subsidy outlays:
136001Direct Disaster Loans............. 506
--------- --------- ----------
136901Total upward reestimate outlays... 506
Direct loan downward reestimate subsidy budget
authority:
137001Direct Disaster Loans............. -384
--------- --------- ----------
137901Total downward reestimate budget
authority....................... -384
Direct loan downward reestimate subsidy
outlays:
138001Direct Disaster Loans............. -384
--------- --------- ----------
138901Total downward reestimate subsidy
outlays......................... -384
----------------------------------------------------------------------------
Administrative expense data:
351001Budget authority.................. 112 126 122
351001Budget authority for terrorists
attack.......................... 40
359001Outlays from new authority........ 108 122 118
359001Outlays from new authority for
terrorist attack................ 1 39
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this account records, for loans made pursuant to section 7(b) of the
Small Business Act, as amended, the subsidy costs associated with the
direct loans obligated in 1992 and beyond (including modifications of
direct loans or loan guarantees that resulted from obligations or
commitments in any year), as well as administrative expenses of this
program. The subsidy amounts are estimated on a present value basis; the
administrative expenses are estimated on a cash basis.
Disaster loans made pursuant to Section 7(b) of the Small Business
Act are the primary form of Federal assistance for non-farm, private
sector disaster losses. For this reason, the program is the only form of
SBA assistance not limited to small businesses. Through this program,
SBA helps homeowners, renters, businesses of all sizes, and non-profit
organizations pay for the cost of rebuilding. Pursuant to the Small
Business Act, the government subsidizes borrowers who have incurred
uninsured losses or economic injury as the result of a natural disaster.
For 2003, SBA will rely on anticipated carry-over balances of $25
million from 2002 plus $10 million in recoveries to support $795 million
in loans. The subsidy rate is 13.98 percent.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
12.1 Civilian personnel benefits....... 8 8 7
25.2 Other services.................... 128 168 115
41.0 Grants, subsidies, and
contributions................... 153 735 114
--------- --------- ----------
99.9 Total new obligations........... 289 911 236
---------------------------------------------------------------------------
[[Page 1061]]
Disaster Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loans...................... 606 1,090 1,110
00.02 Interest on Treasury borrowing.... 494 465 505
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal (1 level)............ 1,100 1,555 1,615
08.02 Payment of downward reestimate to
receipt account................. 282
08.03 Payment to liquidating account to
purchase loan assets (73 4153).. 96 128 116
08.04 Payment of interest on downward
reestimates to receipt account.. 102
08.06 Gainsharing to salaries and
expense......................... 3 3
--------- --------- ----------
08.91 Direct Program by Activities--
Subtotal (1 level)............ 483 128 119
--------- --------- ----------
10.00 Total new obligations........... 1,583 1,683 1,734
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 4,651 5,677
22.00 New financing authority (gross)... 3,353 3,785 3,556
22.10 Resources available from
recoveries of prior year
obligations..................... 50
22.60 Portion applied to repay debt..... -794 -7,779 -1,822
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 7,260 1,683 1,734
23.95 Total new obligations............. -1,583 -1,683 -1,734
24.40 Unobligated balance carried
forward, end of year............ 5,677
----------------------------------------------------------------------------
New financing authority (gross), detail:
Discretionary:
47.00 Authority to borrow............. 1,145 1,035 683
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 2,208 2,750 2,873
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 3,353 3,785 3,556
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 422 619 732
73.10 Total new obligations............. 1,583 1,683 1,734
73.20 Total financing disbursements
(gross)......................... -1,336 -1,570 -1,850
73.45 Recoveries of prior year
obligations..................... -50
74.40 Obligated balance, end of year.... 619 732 616
87.00 Total financing disbursements
(gross)......................... 1,336 1,570 1,850
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
Federal sources:
88.00 Payments from program
account................... -125 -224 -121
88.00 upward reestimate........... -347
88.00 Interest on upward
reestimate................ -159
Non-Federal sources:
88.40 Repayments of principal, net -962 -391 -235
88.40 Collection of misc.
receivables............... -63 -87 -95
88.40 Interest received on loans.. -307 -451 -559
88.40 Proceeds from loan sales.... -751 -1,091 -1,863
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -2,208 -2,750 -2,873
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 1,145 1,035 683
90.00 Financing disbursements........... -872 -1,180 -1,023
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........
1131 Direct loan obligations exempt
from limitation................. 951 1,272 795
--------- --------- ----------
1150 Total direct loan obligations... 951 1,272 795
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 5,212 3,288 3,057
Disbursements:
1231 Direct loan disbursements....... 587 1,206 860
1233 Purchase of loans assets from a
liquidating account........... 96 128 116
Repayments:
1251 Repayments and prepayments...... -1,332 -121 -146
1252 Proceeds from loan asset sales
to the public or discounted... -751 -1,091 -1,863
1262 Adjustments: Discount on loan
asset sales to the public or
discounted...................... -311 -313 -319
1263 Write-offs for default: Direct
loans........................... -213 -40 -41
--------- --------- ----------
1290 Outstanding, end of year........ 3,288 3,057 1,664
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this non-budgetary account records all cash flows to and from the
Government resulting from direct loans obligated in 1992 and beyond
(including modifications of direct loans that resulted from obligations
in any year). The amounts in this account are a means of financing and
are not included in the budget totals.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 5,072 6,791 3,259 3,000
Investments in US securities:
1106 Interest/Accounts Receivables. 1,094 376 506 517
Net value of assets related to
post-1991 direct loans
receivable:
1401 Direct loans receivable, gross.. 5,212 3,288 2,542 1,233
1405 Allowance for subsidy cost (-).. -931 -150 -651 -75
------------ -------------- ------------ -------------
1499 Net present value of assets
related to direct loans..... 4,281 3,138 1,891 1,158
------------ -------------- ------------ -------------
1999 Total assets.................... 10,447 10,305 5,656 4,675
LIABILITIES:
Federal liabilities:
2101 Accounts payable................ 10,447 605 333 375
2103 Debt............................ 9,649 5,294 4,275
Non-Federal liabilities:
2201 Accounts payable................ 28 16 15
2207 Other........................... 23 13 10
------------ -------------- ------------ -------------
2999 Total liabilities............... 10,447 10,305 5,656 4,675
------------ -------------- ------------ -------------
4999 Total liabilities and net position 10,447 10,305 5,656 4,675
-----------------------------------------------------------------------------------------------
Disaster Loan Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
01.01 Interest expense to Treasury...... 22 11 6
01.03 Other expenses.................... 14 19 21
--------- --------- ----------
10.00 Total new obligations........... 36 30 27
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 246 308
22.00 New budget authority from
offsetting collections (gross).. 338 185 169
22.40 Capital transfer to general fund.. -240 -463 -142
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 344 30 27
23.95 Total new obligations............. -36 -30 -27
24.40 Unobligated balance carried
forward, end of year............ 308
----------------------------------------------------------------------------
New budget authority (gross), detail:
Mandatory:
69.00 Offsetting collections (cash)... 338 185 169
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 44 26 26
73.10 Total new obligations............. 36 30 27
73.20 Total outlays (gross)............. -54 -30 -27
74.40 Obligated balance, end of year.... 26 26 26
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 54 30 27
----------------------------------------------------------------------------
[[Page 1062]]
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
Non-Federal sources:
88.40 Asset Sale Proceeds......... -96 -128 -116
88.40 Loan repayments............. -76 -34 -30
88.40 Interest income............. -20 -1 -1
88.40 Other income................ -8
88.40 Other collection of
Principal................. -138 -22 -22
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -338 -185 -169
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... -284 -155 -142
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 685 248 116
Repayments:
1251 Repayments and prepayments...... -76
1252 Proceeds from loan asset sales
to the public or discounted... -96 -128 -116
1262 Adjustments: Discount on loan
asset sales to the public or
discounted...................... -128 -4
1263 Write-offs for default: Direct
loans........................... -137
--------- --------- ----------
1290 Outstanding, end of year........ 248 116
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this account records, for this program, all cash flows to and from the
Government resulting from direct loans obligated prior to 1992. This
account is shown on a cash basis. All new activity in this program in
1992 and beyond (including modifications of direct loans or loan
guarantees that resulted from obligations or commitments in any year) is
recorded in corresponding program and financing accounts.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 54 2 3 5
0102 Expense........................... -44 -82 -57 -50
------------ -------------- ------------ -------------
0105 Net income or loss (-)............ 10 -80 -54 -45
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
ASSETS:
1101 Federal assets: Fund balances with
Treasury........................ 290 36 27 20
1206 Non-Federal assets: Receivables,
net............................. 101 9 3 1
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 685 248 116
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -47 -18 -4
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 638 230 112
1901 Other Federal assets: Other assets 320 66 52
------------ -------------- ------------ -------------
1999 Total assets.................... 1,029 595 208 73
LIABILITIES:
Federal liabilities:
2102 Interest payable................ 39 22 11 5
2105 Other........................... 565 141 45
Non-Federal liabilities:
2201 Accounts payable................ 990 4 12 6
2207 Other........................... 4 44 17
------------ -------------- ------------ -------------
2999 Total liabilities............... 1,029 595 208 73
------------ -------------- ------------ -------------
4999 Total liabilities and net position 1,029 595 208 73
-----------------------------------------------------------------------------------------------
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
25.2 Other services.................... 14 19 21
43.0 Interest and dividends............ 22 11 6
--------- --------- ----------
99.9 Total new obligations........... 36 30 27
---------------------------------------------------------------------------
Pollution Control Equipment Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct program.................... 3 2
--------- --------- ----------
10.00 Total new obligations (object
class 42.0)................... 3 2
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 2 3
22.00 New budget authority (gross)...... 3 3 3
22.40 Capital transfer to general fund.. -2 -3
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 3 3 3
23.95 Total new obligations............. -3 -2
24.40 Unobligated balance carried
forward, end of year............ 3
----------------------------------------------------------------------------
New budget authority (gross), detail:
Mandatory:
60.00 Appropriation................... 3 3 3
----------------------------------------------------------------------------
Change in obligated balances:
73.10 Total new obligations............. 3 2
73.20 Total outlays (gross)............. -3 -2
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 3 2
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 3 3 3
90.00 Outlays........................... 3 2
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 39 16 9
2251 Repayments and prepayments........ -17 -7 -4
Adjustments:
2261 Terminations for default that
result in loans receivable....
2264 Other adjustments, net.......... -6
--------- --------- ----------
2290 Outstanding, end of year........ 16 9 5
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 16 9 5
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 49 49 49
2331 Disbursements for guaranteed
loan claims...................
--------- --------- ----------
2390 Outstanding, end of year...... 49 49 49
---------------------------------------------------------------------------
Public Law 94-305 established this fund to alleviate the adverse
impact of pollution regulations on small businesses. As a result of the
elimination of tax exempt financing associated with the Pollution
Control Guaranteed program, no new activity is anticipated for this
program.
[[Page 1063]]
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
0102 Expense........................... 1 -2 -2
------------ -------------- ------------ -------------
0105 Net income or loss (-)............ 1 -2 -2
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2000 actual 2001 actual 2002 est. 2003 est.
-----------------------------------------------------------------------------------------------
ASSETS:
1101 Federal assets: Fund balances with
Treasury........................ 2 3 3 2
1206 Non-Federal assets: Receivables,
net.............................
1701 Net value of assets related to
pre-1992 direct loans receivable
and acquired defaulted
guaranteed loans receivable:
Defaulted guaranteed loans,
gross........................... 17 16 13 15
------------ -------------- ------------ -------------
1999 Total assets.................... 19 19 16 17
LIABILITIES:
2104 Federal liabilities: Resources
payable to Treasury............. 19 19 16 17
------------ -------------- ------------ -------------
2999 Total liabilities............... 19 19 16 17
------------ -------------- ------------ -------------
4999 Total liabilities and net position 19 19 16 17
-----------------------------------------------------------------------------------------------
Administrative Provision--Small Business Administration
Not to exceed 5 percent of any appropriation made available for the
current fiscal year for the Small Business Administration in this Act
may be transferred between such appropriations, but no such
appropriation shall be increased by more than 10 percent by any such
transfers: Provided, That any transfer pursuant to this paragraph shall
be treated as a reprogramming of funds under section 605 of this Act and
shall not be available for obligation or expenditure except in
compliance with the procedures set forth in that section. (Departments
of Commerce, Justice, and State, the Judiciary, and Related Agencies
Appropriations Act, 2002.)
General Fund Receipt Accounts
(in millions of dollars)
----------------------------------------------------------------------------
2001 actual 2002 est. 2003 est.
----------------------------------------------------------------------------
Offsetting receipts from the public:
73-272130 Disaster loan program,
Downward reestimates of subsidies... 384
73-272230 Business loan program,
Downward reestimates of subsidies... 722 366
--------- --------- ----------
General Fund Offsetting receipts from
the public............................. 1,106 366
---------------------------------------------------------------------------