[Appendix]
[Detailed Budget Estimates by Agency]
[Small Business Administration]
[From the U.S. Government Printing Office, www.gpo.gov]
THE BUDGET FOR FISCAL YEAR 2005
[[Page 1067]]
SMALL BUSINESS ADMINISTRATION
For 2005, the Small Business Administration (SBA) budget requests
$678.4 million in new budget authority. SBA's continuing operations will
provide nearly $25 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] 106-554,
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, [$325,750,000] $326,259,000: 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
[$89,000,000] $88,000,000 shall be available to fund grants for
performance in fiscal year [2004] 2005 or fiscal year [2005] 2006 as
authorized. (Division B, H.R. 2673, Consolidated Appropriations Bill, FY
2004.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Government contracting and
minority enterprise development. 26 29 25
00.02 Disaster assistance............... 119 108 108
00.03 Office of Chief Information
Officer......................... 18 28
00.04 Management and administration..... 141 114 78
00.05 Executive direction............... 4 5 6
00.06 General counsel................... 9 9 10
00.07 Congressional and legislative
affairs......................... 1 1 1
00.08 Hearings and appeals.............. 1 1 1
00.09 Communications and publications... 3 3 3
00.11 Advocacy.......................... 6 7 7
00.12 Field operations.................. 1 1 2
00.13 Equal employment opportunity and
civil rights compliance......... 2 2 2
00.14 Regional and district offices..... 146 145 151
00.15 Chief financial officer........... 10 9 10
00.16 Capital Access.................... 58 51 32
00.17 Entrepreneurial development....... 113 115 112
00.18 Small disadvantaged businesses.... 1 2 2
00.19 Veteran's Business Development.... 1 1 1
--------- --------- ----------
10.00 Total new obligations........... 642 621 579
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 56 8 1
22.00 New budget authority (gross)...... 596 613 579
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 652 621 580
23.95 Total new obligations............. -642 -621 -579
23.98 Unobligated balance expiring or
withdrawn....................... -2
24.40 Unobligated balance carried
forward, end of year............ 8 1 1
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 369 371 326
40.35 Appropriation permanently
reduced....................... -2 -4
40.36 Unobligated balance permanently
reduced....................... -14
42.00 Transferred from other accounts. 1
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 354 367 326
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 242 246 253
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 596 613 579
Change in obligated balances:
72.40 Obligated balance, start of year.. 294 311 322
73.10 Total new obligations............. 642 621 579
73.20 Total outlays (gross)............. -616 -610 -597
73.40 Adjustments in expired accounts
(net)........................... -8
74.40 Obligated balance, end of year.... 311 322 304
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 488 448 432
86.93 Outlays from discretionary
balances........................ 128 162 165
--------- --------- ----------
87.00 Total outlays (gross)........... 616 610 597
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.00 Payments from business loan
program account............. -128 -127 -129
88.00 Payments from disaster loan
program account............. -109 -113 -118
88.00 Federal sources............... -5 -3 -3
88.40 Non-Federal sources........... -3 -3 -3
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -245 -246 -253
Against gross budget authority only:
88.96 Portion of offsetting
collections (cash) credited to
expired accounts.............. 3
Net budget authority and outlays:
89.00 Budget authority.................. 354 367 326
90.00 Outlays........................... 371 364 344
---------------------------------------------------------------------------
The appropriation for this account is necessary to cover the
administrative expenses for headquarters and non-credit programs.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Personnel compensation:
11.1 Full-time permanent............. 185 184 192
11.3 Other than full-time permanent.. 11 11 11
11.5 Other personnel compensation.... 3 3 3
--------- --------- ----------
11.9 Total personnel compensation.. 199 198 206
12.1 Civilian personnel benefits....... 47 50 50
21.0 Travel and transportation of
persons......................... 4 4 4
23.1 Rental payments to GSA............ 34 36 38
23.3 Communications, utilities, and
miscellaneous charges........... 6 6 6
24.0 Printing and reproduction......... 1 1 1
25.2 Other services.................... 36 31 51
25.3 Other purchases of goods and
services from Government
accounts (disaster loan making). 95 82 82
25.3 Other purchases of goods and
services from Government
accounts (disaster loan serv)... 24 26 26
26.0 Supplies and materials............ 2 1 2
31.0 Equipment......................... 2 1 2
41.0 Grants, subsidies, and
contributions................... 192 185 111
--------- --------- ----------
99.9 Total new obligations........... 642 621 579
---------------------------------------------------------------------------
Personnel Summary
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
1001 Total compensable workyears:
Civilian full-time equivalent
employment...................... 3,662 3,786 3,786
---------------------------------------------------------------------------
Note.--The personnel summary includes regular (non-disaster) full-
time equivalents (FTEs) of 2633, 2618, and 2618 in 2003, 2004, and 2005
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,
[$13,000,000] $14,500,000. (Division B, H.R. 2673, Consolidated
Appropriations Bill, FY 2004.)
[[Page 1068]]
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0200-0-1-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 General Office.................... 1 1 1
00.02 Audit............................. 5 6 7
00.03 Investigations.................... 6 7 7
00.04 Management / Legal Counsel /
Inspection and Evaluation....... 1 1 1
--------- --------- ----------
10.00 Total new obligations........... 13 15 16
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 13 15 16
23.95 Total new obligations............. -13 -15 -16
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 12 14 15
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 1 1 1
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 13 15 16
Change in obligated balances:
73.10 Total new obligations............. 13 15 16
73.20 Total outlays (gross)............. -12 -15 -16
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 12 14 15
86.93 Outlays from discretionary
balances........................ 1 1
--------- --------- ----------
87.00 Total outlays (gross)........... 12 15 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.................. 12 14 15
90.00 Outlays........................... 11 14 15
---------------------------------------------------------------------------
The budget proposes $14.5 million in new budget authority and $0.5
million transferred from the Disaster Loans Program account for a total
of $15.0 million for the Office of Inspector General (OIG) for 2005.
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)
----------------------------------------------------------------------------
Identification code 73-0200-0-1-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Direct obligations:
Personnel compensation:
11.1 Full-time permanent........... 9 10 10
11.5 Other personnel compensation.. 1 1 1
--------- --------- ----------
11.9 Total personnel compensation 10 11 11
12.1 Civilian personnel benefits..... 1 1 1
25.2 Other services.................. 1 1 2
--------- --------- ----------
99.0 Direct obligations............ 12 13 14
99.5 Below reporting threshold......... 1 2 2
--------- --------- ----------
99.9 Total new obligations........... 13 15 16
---------------------------------------------------------------------------
Personnel Summary
----------------------------------------------------------------------------
Identification code 73-0200-0-1-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
1001 Total compensable workyears:
Civilian full-time equivalent
employment...................... 100 103 103
---------------------------------------------------------------------------
Public enterprise funds:
Surety Bond Guarantees Revolving Fund
For additional capital for the Surety Bond Guarantees Revolving
Fund, authorized by the Small Business Investment Act, as amended,
$11,400,000, to remain available until expended. (15 U.S.C. 631 nte.).
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4156-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
09.01 Reimbursable obligations.......... 9 11 13
--------- --------- ----------
10.00 Total new obligations (object
class 42.0)................... 9 11 13
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 26 23 19
22.00 New budget authority (gross)...... 6 7 21
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 32 30 40
23.95 Total new obligations............. -9 -11 -13
24.40 Unobligated balance carried
forward, end of year............ 23 19 27
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 11
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 6 7 10
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 6 7 21
Change in obligated balances:
72.40 Obligated balance, start of year.. 1
73.10 Total new obligations............. 9 11 13
73.20 Total outlays (gross)............. -9 -11 -14
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 6 7 10
86.93 Outlays from discretionary
balances........................ 3 4 4
--------- --------- ----------
87.00 Total outlays (gross)........... 9 11 14
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -6 -7 -10
Net budget authority and outlays:
89.00 Budget authority.................. 11
90.00 Outlays........................... 4 4 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 2005, the budget proposes a $1.7 billion program level that is
anticipated to be sufficient to accommodate demand from prior-approval
and preferred sureties.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4156-0-3-376 2002 actual 2003 actual 2004 est. 2005 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 27 23
Investments in US securities:
1106 Receivables, net.............. 5 6
------------ -------------- ------------ -------------
1999 Total assets.................... 32 29
LIABILITIES:
2201 Non-Federal liabilities: Accounts
payable......................... 16 20
------------ -------------- ------------ -------------
2999 Total liabilities............... 16 20
NET POSITION:
3100 Appropriated capital.............. 289 281
3300 Cumulative results of operations.. -273 -272
------------ -------------- ------------ -------------
3999 Total net position.............. 16 9
------------ -------------- ------------ -------------
4999 Total liabilities and net position 32 29
-----------------------------------------------------------------------------------------------
Note: Consistent with Government-wide practice, information for 2004
and 2005 was not required to be collected.
Credit accounts:
Business Loans Program Account
[For the cost of direct loans, $1,910,000, to be available until
expended; and for the cost of guaranteed loans, $79,132,000, as
authorized by 15 U.S.C. 631 note, of which $45,000,000 shall remain
avail
[[Page 1069]]
able until September 30, 2005: 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: Provided further, That during] Subject
to section 502 of the Congressional Budget Act of 1974, during fiscal
year [2004] 2005 commitments to guarantee loans under section 503 of the
Small Business Investment Act of 1958, shall not exceed $4,500,000,000:
Provided further, That during fiscal year [2004] 2005 commitments for
general business loans authorized under section 7(a) of the Small
Business Act, 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]
$12,500,000,000: Provided further, That during fiscal year [2004] 2005
commitments to guarantee loans for debentures and participating
securities under section 303(b) of the Small Business Investment Act of
1958, shall not exceed the levels established by section 20(i)(1)(C) of
the Small Business Act: Provided further, That during fiscal year 2005
guarantees of trust certificates authorized by section 5(g) of the Small
Business Act shall not exceed a principal amount of $10,000,000,000.
In addition, for administrative expenses to carry out the direct and
guaranteed loan programs, [$128,000,000] $129,000,000, which may be
transferred to and merged with the appropriations for Salaries and
Expenses. (Division B, H.R. 2673, Consolidated Appropriations Bill, FY
2004.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loan subsidy............... 4 2
00.02 Guaranteed loan subsidy........... 103 95
00.05 Reestimate of direct loan......... 2
00.06 Interest on direct loan
reestimation.................... 2
00.07 Reestimate of loan guarantee
subsidy......................... 526 1,940
00.08 Interest on reestimates of loan
guarantee subsidy............... 163 465
00.09 Administrative expenses........... 128 127 129
--------- --------- ----------
10.00 Total new obligations........... 928 2,629 129
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 70 42 26
22.00 New budget authority (gross)...... 899 2,612 129
22.10 Resources available from
recoveries of prior year
obligations..................... 1
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 970 2,654 155
23.95 Total new obligations............. -928 -2,629 -129
24.40 Unobligated balance carried
forward, end of year............ 42 26 26
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 245 209 129
40.35 Appropriation permanently
reduced....................... -29 -2
40.36 Unobligated balance permanently
reduced....................... -10
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 206 207 129
Mandatory:
60.00 Appropriation................... 693 2,405
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 899 2,612 129
Change in obligated balances:
72.40 Obligated balance, start of year.. 98 87 91
73.10 Total new obligations............. 928 2,629 129
73.20 Total outlays (gross)............. -938 -2,624 -158
73.45 Recoveries of prior year
obligations..................... -1
74.40 Obligated balance, end of year.... 87 91 62
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 142 130 81
86.93 Outlays from discretionary
balances........................ 103 89 77
86.97 Outlays from new mandatory
authority....................... 693 2,405
--------- --------- ----------
87.00 Total outlays (gross)........... 938 2,624 158
Net budget authority and outlays:
89.00 Budget authority.................. 899 2,612 129
90.00 Outlays........................... 938 2,624 158
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
115001Micro loans....................... 29 20
--------- --------- ----------
115901Total direct loan levels.......... 29 20
Direct loan subsidy (in percent):
132001Micro loans....................... 13.05 9.55 10.25
--------- --------- ----------
132901Weighted average subsidy rate..... 13.05 9.55 10.25
Direct loan subsidy budget authority:
133001Micro loans....................... 4 2
--------- --------- ----------
133901Total subsidy budget authority.... 4 2
Direct loan subsidy outlays:
134001Micro loans....................... 3 1
--------- --------- ----------
134901Total subsidy outlays............. 3 1
Direct loan upward reestimate subsidy budget
authority:
135001Micro loans....................... 4
--------- --------- ----------
135901Total upward reestimate budget
authority....................... 4
Direct loan downward reestimate subsidy budget
authority:
137001Micro loans....................... -2
--------- --------- ----------
137901Total downward reestimate budget
authority....................... -2
----------------------------------------------------------------------------
Guaranteed loan levels supportable by subsidy
budget authority:
215001Microloan guarantees.............. 2
215002General business--7(a)............ 8,938 9,484 12,500
215002General business--7(a)-terrorist
response........................ 1,538
215003General business--7(a) DELTA...... 1
215004Section 504....................... 3,142 4,500 4,500
215005Section 504 DELTA.................
215006SBIC debentures................... 461 3,000 3,000
215007SBIC participating securities..... 1,185 4,000 4,000
215008New Market Venture Capital........ 53
215009Secondary market guarantee........ 5,000
--------- --------- ----------
215901Total loan guarantee levels....... 15,318 20,986 29,000
Guaranteed loan subsidy (in percent):
232001Microloan guarantees.............. 8.42 8.66 8.66
232002General business--7(a)............ 1.04 1.06
232002General business--7(a)-terrorist
response........................ 1.04
232003General business--7(a) DELTA...... 1.51 1.56
232004Section 504.......................
232005Section 504 DELTA................. 0.88 0.62 1.32
232006SBIC debentures...................
232007SBIC participating securities.....
232008New Market Venture Capital........ 15.46 16.05 16.03
232009Secondary market guarantee........
--------- --------- ----------
232901Weighted average subsidy rate..... 0.77 0.38
Guaranteed loan subsidy budget authority:
233001Microloan guarantees..............
233002General business--7(a)............ 93 79
233002General business--7(a)-terrorist
response........................ 16
233003General business--7(a) DELTA...... 1
233004Section 504.......................
233005Section 504 DELTA.................
233006SBIC debentures...................
233007SBIC participating securities.....
233008New Market Venture Capital........ 8
2330097(a) secondary market.............
--------- --------- ----------
233901Total subsidy budget authority.... 118 79
Guaranteed loan subsidy outlays:
234001Microloan guarantees..............
234002General business--7(a)............ 76 86
234002General business--7(a)-terrorist
response........................ 11
234003General business--7(a) DELTA...... 1
234004Section 504.......................
234005Section 504 DELTA.................
234006SBIC debentures...................
234007SBIC participating securities.....
234008New Market Venture Capital........ 8 3
2340097(a) secondary market.............
--------- --------- ----------
234901Total subsidy outlays............. 96 89
Guaranteed loan upward reestimate subsidy
budget authority:
235001Microloan guarantees..............
235002General business--7(a)............ 189 305
[[Page 1070]]
235003General business--7(a) DELTA......
235004Section 504....................... 146 3
235005Section 504 DELTA.................
235006SBIC debentures................... 27 127
235007SBIC participating securities..... 327 1,865
235008New Market Venture Capital........
235009Secondary market guarantee........ 105
--------- --------- ----------
235901Total upward reestimate budget
authority....................... 689 2,405
Guaranteed loan downward reestimate subsidy
budget authority:
237001Microloan guarantees..............
237002General business--7(a)............ -158 -106
237003General business--7(a) DELTA......
237004Section 504....................... -10 -82
237005Section 504 DELTA.................
237006SBIC debentures................... -34 -38
237007SBIC participating securities..... -54
237008New Market Venture Capital........
2370097(a) secondary market.............
--------- --------- ----------
237901Total downward reestimate subsidy
budget authority................ -256 -226
----------------------------------------------------------------------------
Administrative expense data:
351001Budget authority.................. 128 129 129
358001Outlays from balances.............
359001Outlays from new authority........ 128 129 129
---------------------------------------------------------------------------
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 2005, the budget proposes $129 million in new budget authority
for the Business Loans Program account. This amount will be used to
administer the loan programs. For all business 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 2005 is $12.5 billion. The
Section 504 CDC Program is for long-term fixed rate financing and will
require a program level of $4.5 billion in 2005. 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.
As part of the Secondary Market Guarantee (SMG), the Master Reserve
Fund (MRF) is maintained by the SBA's fiscal agent as part of its
administration of the secondary market program. SBA's loan pooling
program provides for the pooling of loans having terms that vary with a
range prescribed by SBA, while the secondary investors have a fixed term
for their investment that is the term of the longest loan in the pool.
The MRF balances include the principal portion of the borrowers' first
payment for pooled loans and interest on borrowers' payments received
prior to their disbursement to the secondary holders. The earnings on
the balances are used to fund the SBA's guarantee of the timely payment
of principal and interest owed to the holders of SBA guaranteed pool
securities and to pay expenses of the MRF trustee and investment
advisor.
To improve financial management of the MRF, SBA will budget for the
secondary market program in accordance with the Federal Credit Reform
Act. SBA has refined its subsidy estimates and is accounting for loans
in both financing and liquidating accounts. SBA's secondary market
program has approximately $13 billion of currently outstanding
investments held by secondary market pool holders.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
25.2 Other services.................... 128 129 129
41.0 Grants, subsidies, and
contributions................... 800 2,500
--------- --------- ----------
99.9 Total new obligations........... 928 2,629 129
---------------------------------------------------------------------------
Business Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4148-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loans...................... 25 20
00.02 Interest on Treasury borrowing.... 30 33 26
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal...................... 55 53 26
08.02 Payment of downward reestimate to
a receipt account............... 1
08.04 Payment of interest on downward
reestimate to a receipt account. 1
--------- --------- ----------
08.91 Direct Program by Activities--
Subtotal...................... 2
--------- --------- ----------
10.00 Total new obligations........... 57 53 26
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 309 315
22.00 New financing authority (gross)... 78 72 26
22.10 Resources available from
recoveries of prior year
obligations..................... 1
22.60 Portion applied to repay debt..... -17 -334
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 371 53 26
23.95 Total new obligations............. -57 -53 -26
24.40 Unobligated balance carried
forward, end of year............ 315
New financing authority (gross), detail:
Discretionary:
47.00 Authority to borrow............. 27 17
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 51 55 26
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 78 72 26
Change in obligated balances:
72.40 Obligated balance, start of year.. 23 28 20
73.10 Total new obligations............. 57 53 26
73.20 Total financing disbursements
(gross)......................... -51 -61 -25
73.45 Recoveries of prior year
obligations..................... -1
74.40 Obligated balance, end of year.... 28 20 21
87.00 Total financing disbursements
(gross)......................... 51 61 25
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Federal sources: Payments from
program account............. -3 -2
88.00 Upward reestimate............. -2
88.00 Interest on reestimate........ -2
88.25 Interest on uninvested funds.. -23 -14
88.40 Repayments of principal, net.. -15 -18 -15
88.40 Other income.................. -6 -21 -11
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -51 -55 -26
Net financing authority and financing
disbursements:
89.00 Financing authority............... 27 17
90.00 Financing disbursements........... 6 -1
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4148-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........ 25 20
--------- --------- ----------
1150 Total direct loan obligations... 25 20
----------------------------------------------------------------------------
[[Page 1071]]
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 119 127 124
1231 Disbursements: Direct loan
disbursements................... 23 19
1251 Repayments: Repayments and
prepayments..................... -15 -16 -16
1263 Write-offs for default: Direct
loans........................... -6 -6
--------- --------- ----------
1290 Outstanding, end of year........ 127 124 102
---------------------------------------------------------------------------
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 2002 actual 2003 actual 2004 est. 2005 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 333 343
Investments in US securities:
1106 Receivables, net.............. 4
Non-Federal assets:
1206 Receivables, net................ 1
1207 Advances and prepayments........ 1
Net value of assets related to
post-1991 direct loans
receivable:
1401 Direct loans receivable, gross.. 119 127
1405 Allowance for subsidy cost (-).. -10 -10
------------ -------------- ------------ -------------
1499 Net present value of assets
related to direct loans..... 109 117
------------ -------------- ------------ -------------
1999 Total assets.................... 448 460
LIABILITIES:
Federal liabilities:
2101 Accounts payable................ 1 2
2103 Debt............................ 443 454
2207 Non-Federal liabilities: Other.... 4 4
------------ -------------- ------------ -------------
2999 Total liabilities............... 448 460
------------ -------------- ------------ -------------
4999 Total liabilities and net position 448 460
-----------------------------------------------------------------------------------------------
Note: Consistent with Government-wide practice, information for 2004
and 2005 was not required to be collected.
Business Guaranteed Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Interest on Treasury borrwing:
Obligations by program activity:
00.01 Default claims.................. 1,247 2,311 2,000
00.02 Interet on Treasury borrowing... 74 173 125
00.05 Other Expenses.................... 26 13 15
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal........................ 1,347 2,497 2,140
--------- --------- ----------
02.00 Interest on Treasury borrowing.... 1,347 2,497 2,140
08.02 Payment of downward reestimate to
receipt account................. 222 189
08.04 Payment of interest on downward
reestimate to receipt account... 34 37
--------- --------- ----------
08.91 Direct Program by Activities--
Subtotal........................ 256 226
--------- --------- ----------
10.00 Total new obligations............. 1,603 2,723 2,140
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 234 226 1,032
22.00 New financing authority (gross)... 1,653 3,529 1,612
22.60 Portion applied to repay debt..... -58
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 1,829 3,755 2,644
23.95 Total new obligations............. -1,603 -2,723 -2,140
24.40 Unobligated balance carried
forward, end of year............ 226 1,032 504
New financing authority (gross), detail:
Discretionary:
47.00 Authority to borrow............. 300 400 500
Spending authority from offsetting
collections:
68.00 Offsetting collections (cash)... 1,353 3,129 1,112
68.10 Change in uncollected customer
payments from Federal sources
(unexpired)................... 1
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)....... 1,354 3,129 1,112
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 1,654 3,529 1,612
Change in obligated balances:
72.40 Obligated balance, start of year.. 19 -45 22
73.10 Total new obligations............. 1,603 2,723 2,140
73.20 Total financing disbursements
(gross)......................... -1,666 -2,656 -1,600
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... -1
74.40 Obligated balance, end of year.... -45 22 562
87.00 Total financing disbursements
(gross)......................... 1,666 2,656 1,600
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Payments from program account. -96 -89
88.00 Upward reestimate............. -526 -1,940
88.00 Interest on reestimate........ -163 -465
88.40 Fees.......................... -315 -350 -800
88.40 Recoveries.................... -249 -275 -300
88.40 other......................... -4 -10 -12
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -1,353 -3,129 -1,112
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. -1
Net financing authority and financing
disbursements:
89.00 Financing authority............... 299 400 500
90.00 Financing disbursements........... 313 -473 488
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on commitments:
2111 Limitation on guaranteed loans
made by private lenders......... 15,318 20,986 29,000
--------- --------- ----------
2150 Total guaranteed loan
commitments................... 15,318 20,986 29,000
2199 Guaranteed amount of guaranteed
loan commitments................ 12,392 16,600 23,000
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 40,023 52,630 56,858
2231 Disbursements of new guaranteed
loans........................... 12,796 15,000 21,000
2251 Repayments and prepayments........ -7,866 -8,420 -9,100
Adjustments:
2261 Terminations for default that
result in loans receivable.... -1,248 -2,315 -1,264
2264 Other adjustments, net.......... 8,925 -37 -38
--------- --------- ----------
2290 Outstanding, end of year........ 52,630 56,858 67,456
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 51,525 42,000 54,000
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 1,304 1,840 3,546
2331 Disbursements for guaranteed
loan claims................... 1,248 2,315 1,264
2351 Repayments of loans receivable.. -249 -223 -227
2361 Write-offs of loans receivable.. -532 -294 -567
2364 Other adjustments, net.......... 69 -92 -177
--------- --------- ----------
2390 Outstanding, end of year...... 1,840 3,546 3,839
---------------------------------------------------------------------------
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.
[[Page 1072]]
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2002 actual 2003 actual 2004 est. 2005 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 253 181
Investments in US securities:
1106 Receivables, net.............. 669 18
1206 Non-Federal assets: Receivables,
net............................. 61 30
Net value of assets related to
post-1991 acquired defaulted
guaranteed loans receivable:
1501 Defaulted guaranteed loans
receivable, net............... 1,304 1,840
1505 Allowance for subsidy cost (-).. -36
------------ -------------- ------------ -------------
1599 Net present value of assets
related to defaulted
guaranteed loans............ 1,268 1,840
1901 Other Federal assets: Public and
other........................... 377 720
------------ -------------- ------------ -------------
1999 Total assets.................... 2,628 2,789
LIABILITIES:
Federal liabilities:
2101 Accounts payable................ 73 5
2103 Debt............................ 850 1,092
2105 Other........................... 251
Non-Federal liabilities:
2201 Accounts payable................ 103 54
2204 Liabilities for loan guarantees. 1,358 1,626
2207 Other........................... -7 12
------------ -------------- ------------ -------------
2999 Total liabilities............... 2,628 2,789
------------ -------------- ------------ -------------
4999 Total liabilities and net position 2,628 2,789
-----------------------------------------------------------------------------------------------
Note: Consistent with Government-wide practice, information for 2004
and 2005 was not required to be collected.
Business Loan Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Interest Expense to Treasury...... 10 8 6
00.05 Guaranteed loan default claims.... 6 5 4
--------- --------- ----------
10.00 Total new obligations........... 16 13 10
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 283 143
22.00 New budget authority (gross)...... 66 105 48
22.10 Resources available from
recoveries of prior year
obligations..................... 92
22.40 Capital transfer to general fund.. -257 -212 -17
22.60 Portion applied to repay debt to
FFB............................. -25 -23 -21
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 159 13 10
23.95 Total new obligations............. -16 -13 -10
24.40 Unobligated balance carried
forward, end of year............ 143
New budget authority (gross), detail:
Mandatory:
60.00 Appropriation................... 50
69.00 Offsetting collections (cash)..... 67 55 48
69.10 Change in uncollected customer
payments from Federal sources
(unexpired)..................... -1
--------- --------- ----------
69.90 Spending authority from
offsetting collections (total
mandatory).................... 66 55 48
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 66 105 48
Change in obligated balances:
72.40 Obligated balance, start of year.. 82 36 21
73.10 Total new obligations............. 16 13 10
73.20 Total outlays (gross)............. 29 -28 -24
73.45 Recoveries of prior year
obligations..................... -92
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... 1
74.40 Obligated balance, end of year.... 36 21 7
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... -29 28 24
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.00 Federal sources............... 3
Loan repayments:
88.40 Financing programs-principal -15 -13 -11
88.40 Investment programs-
principal................. -10 -8 -7
88.40 Interest Income-Business &
investment................ -6 -3 -3
88.40 Fees........................ -5 -4 -3
88.40 Collection on FFB loans..... -25 -23 -21
88.40 Other Income-both Business
and Investment............ -9 -4 -3
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -67 -55 -48
Against gross budget authority only:
88.95 Change in uncollected customer
payments from Federal sources
(unexpired)................... 1
Net budget authority and outlays:
89.00 Budget authority.................. 50
90.00 Outlays........................... -96 -27 -24
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Business Loan Fund, Direct
Loans
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 148 106 76
1231 Disbursements: Direct loan
disbursements................... 4 4 3
Repayments:
1251 Repayments and prepayments...... -39 -30 -22
1252 Proceeds from loan asset sales
to the public or discounted... -1
Write-offs for default:
1263 Direct loans.................... -11 -4 -3
1264 Other adjustments, net.......... 5
--------- --------- ----------
1290 Outstanding, end of year........ 106 76 54
----------------------------------------------------------------------------
Small Business Investment
Company, Direct Loans
Section 503 Development
Company, Direct Loans
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 103 78 55
1251 Repayments: Repayments and
prepayments..................... -25 -23 -21
--------- --------- ----------
1290 Outstanding, end of year........ 78 55 34
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Business Loan Fund, Loan
Guarantees
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 1,067 758 561
2231 Disbursements of new guaranteed
loans........................... 4 4 3
2251 Repayments and prepayments........ -299 -191 -150
Adjustments:
2261 Terminations for default that
result in loans receivable.... -7 -10 -8
2264 Other adjustments, net.......... -7
--------- --------- ----------
2290 Outstanding, end of year........ 758 561 406
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 666 505 365
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 378 342 321
2331 Disbursements for guaranteed
loan claims................... 7 10 8
2351 Repayments of loans receivable.. -32 -19 -15
2361 Write-offs of loans receivable.. -11 -8 -7
2364 Other adjustments, net.......... -4 -3
--------- --------- ----------
2390 Outstanding, end of year...... 342 321 304
---------------------------------------------------------------------------
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
[[Page 1073]]
loans or loan guarantees that resulted from obligations or commitments
in any year) is recorded in corresponding program and financing
accounts.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2002 actual 2003 actual 2004 est. 2005 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 365 179
Investments in US securities:
1106 Receivables, net.............. 5 3
1107 Advances and prepayments...... 4
Non-Federal assets:
1206 Receivables, net................ 12 1
1207 Advances and prepayments........ 4
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 251 184
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -74
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 177 184
Other Federal assets:
1901 Other assets.................... 207 46
1901 Other assets 7(a) secondary
market........................ 296
------------ -------------- ------------ -------------
1999 Total assets.................... 1,066 417
LIABILITIES:
Federal liabilities:
2101 Accounts payable................ 19 32
2102 Interest payable................ 73
2103 Debt............................ 29 80
2105 Other Liabilities............... 380 274
Non-Federal liabilities:
2201 Accounts payable................ 233 6
2204 Liabilities for 7(a) secondary
market........................ 314
2207 Other Liabilities............... 18 25
------------ -------------- ------------ -------------
2999 Total liabilities............... 1,066 417
NET POSITION:
3300 Cumulative results of operations..
------------ -------------- ------------ -------------
3999 Total net position..............
------------ -------------- ------------ -------------
4999 Total liabilities and net position 1,066 417
-----------------------------------------------------------------------------------------------
Note: Consistent with Government-wide practice, information for 2004
and 2005 was not required to be collected.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
42.0 Insurance claims and indemnities.. 6 5 4
43.0 Interest and dividends............ 10 8 6
--------- --------- ----------
99.9 Total new obligations........... 16 13 10
---------------------------------------------------------------------------
Disaster Loans Program Account
For the cost of direct loans authorized by section 7(b) of the Small
Business Act, [$56,188,000] $78,887,000, 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.
In addition, for administrative expenses to carry out the direct
loan program, [$114,363,000] $118,354,000 to be available until
expended, 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 [$105,363,000] $108,000,000 is for direct administrative expenses
of loan making and servicing to carry out the direct loan program; and
of which [$8,500,000] $9,854,000 is for indirect administrative
expenses: Provided, That any amount in excess of [$8,500,000,000]
$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. (Division B,
H.R. 2673, Consolidated Appropriations Bill, FY 2004.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loan subsidy............... 117 80 79
00.05 Upward reestimate of direct loans. 305 629
00.06 Interest on upward reestimates of
direct loans.................... 163 434
00.09 Administrative expense............ 116 113 118
--------- --------- ----------
10.00 Total new obligations........... 701 1,256 197
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 71 38 14
22.00 New budget authority (gross)...... 666 1,232 197
22.10 Resources available from
recoveries of prior year
obligations..................... 11
22.21 Unobligated balance transferred to
other accounts.................. -9
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 739 1,270 211
23.95 Total new obligations............. -701 -1,256 -197
24.40 Unobligated balance carried
forward, end of year............ 38 14 14
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 191 171 197
40.35 Appropriation permanently
reduced....................... -1 -2
41.00 Transferred to other accounts... -1
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 189 169 197
Mandatory:
60.00 Appropriation................... 468 1,063
Discretionary:
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 9
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 666 1,232 197
Change in obligated balances:
72.40 Obligated balance, start of year.. 38 36 41
73.10 Total new obligations............. 701 1,256 197
73.20 Total outlays (gross)............. -692 -1,251 -201
73.45 Recoveries of prior year
obligations..................... -11
74.40 Obligated balance, end of year.... 36 41 37
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 154 130 152
86.93 Outlays from discretionary
balances........................ 70 58 49
86.97 Outlays from new mandatory
authority....................... 468 1,063
--------- --------- ----------
87.00 Total outlays (gross)........... 692 1,251 201
Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash)
from: Federal sources......... -9
Net budget authority and outlays:
89.00 Budget authority.................. 657 1,232 197
90.00 Outlays........................... 683 1,251 201
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
115001Disaster Loan..................... 663 758 614
115001EIDL Terrorist Attack............. 99
115001PHY Terrorist Attack.............. 7
--------- --------- ----------
115901Total direct loan levels.......... 769 758 614
Direct loan subsidy (in percent):
132001Disaster Loan..................... 13.98 11.72 12.86
132001EIDL Terrorist Attack............. 23.20
132001PHY Terrorist Attack.............. 13.98
--------- --------- ----------
132901Weighted average subsidy rate..... 15.21 11.72 12.86
Direct loan subsidy budget authority:
133001Disaster Loan..................... 93 56 79
133001EIDL Terrorist Attack............. 23
133001PHY Terrorist Attack.............. 1
--------- --------- ----------
133901Total subsidy budget authority.... 117 56 79
Direct loan subsidy outlays:
134001Disaster Loan..................... 83 75 83
[[Page 1074]]
134001EIDL Terrorist Attack............. 14
134001PHY Terrorist Attack.............. 1
--------- --------- ----------
134901Total subsidy outlays............. 98 75 83
Direct loan upward reestimate subsidy budget
authority:
135001Disaster Loan..................... 468 1,063
--------- --------- ----------
135901Total upward reestimate budget
authority....................... 468 1,063
Direct loan downward reestimate subsidy budget
authority:
137001Disaster Loan..................... -42 -5
--------- --------- ----------
137901Total downward reestimate budget
authority....................... -42 -5
----------------------------------------------------------------------------
Administrative expense data:
351001Budget authority.................. 116 114 118
359001Outlays from new authority........ 116 113 118
---------------------------------------------------------------------------
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 2005, SBA will rely on anticipated carry-over balances of $13
million from 2004 plus $10 million in recoveries to support $792 million
in loans. The subsidy rate is 12.86 percent.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
25.2 Other services.................... 116 113 118
41.0 Grants, subsidies, and
contributions................... 585 1,143 79
--------- --------- ----------
99.9 Total new obligations........... 701 1,256 197
---------------------------------------------------------------------------
Disaster Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loans...................... 745 758 792
00.02 Interest on Treasury borrowing.... 504 565 600
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal...................... 1,249 1,323 1,392
08.02 Payment of downward reestimate to
a receipt account............... 39 5
08.04 Payment of interest on downward
reestimate to a receipt account. 3
--------- --------- ----------
08.91 Direct Program by Activities--
Subtotal...................... 42 5
--------- --------- ----------
10.00 Total new obligations........... 1,291 1,328 1,392
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 5,486 1,192
22.00 New financing authority (gross)... 2,407 2,471 1,460
22.10 Resources available from
recoveries of prior year
obligations..................... 83
22.60 Portion applied to repay debt..... -5,493 -2,335 -68
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 2,483 1,328 1,392
23.95 Total new obligations............. -1,291 -1,328 -1,392
24.40 Unobligated balance carried
forward, end of year............ 1,192
New financing authority (gross), detail:
Discretionary:
47.00 Authority to borrow............. 831 669 690
Spending authority from offsetting
collections:
68.00 Offsetting collections (cash)... 1,625 1,802 770
68.10 Change in uncollected customer
payments from Federal sources
(unexpired)................... -49
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)....... 1,576 1,802 770
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 2,407 2,471 1,460
Change in obligated balances:
72.40 Obligated balance, start of year.. 186 193
73.10 Total new obligations............. 1,291 1,328 1,392
73.20 Total financing disbursements
(gross)......................... -1,250 -1,521 -1,200
73.45 Recoveries of prior year
obligations..................... -83
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... 49
74.40 Obligated balance, end of year.... 193 192
87.00 Total financing disbursements
(gross)......................... 1,250 1,521 1,200
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Payments from program account. -98 -75 -83
88.00 Upward reestimate............. -305 -629
88.00 Interest on upward reestimate. -163 -433
88.25 Interest on uninvested funds.. -269 -350 -375
88.40 Repayments of principal, net.. -283 -235 -207
88.40 Collection of misc.
receivables................. -59 -65 -85
88.40 Interest received on loans.... -12 -15 -20
88.40 Proceeds from loan sales...... -436
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -1,625 -1,802 -770
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. 49
Net financing authority and financing
disbursements:
89.00 Financing authority............... 831 669 690
90.00 Financing disbursements........... -375 -281 430
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........
1131 Direct loan obligations exempt
from limitation................. 745 758 792
--------- --------- ----------
1150 Total direct loan obligations... 745 758 792
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 3,644 2,935 3,359
1231 Disbursements: Direct loan
disbursements................... 686 700 750
Repayments:
1251 Repayments and prepayments...... -283 -235 -200
1252 Proceeds from loan asset sales
to the public or discounted... -436
1262 Adjustments: Discount on loan
asset sales to the public or
discounted...................... -153
Write-offs for default:
1263 Direct loans.................... -47 -41 -42
1264 Other adjustments, net.......... -476
--------- --------- ----------
1290 Outstanding, end of year........ 2,935 3,359 3,867
---------------------------------------------------------------------------
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.
[[Page 1075]]
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2002 actual 2003 actual 2004 est. 2005 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 5,672 1,385
Investments in US securities:
1106 Interest/Accounts Receivables. 512 4
Net value of assets related to
post-1991 direct loans
receivable:
1401 Direct loans receivable, gross.. 3,644 2,935
1405 Allowance for subsidy cost (-).. 35 733
------------ -------------- ------------ -------------
1499 Net present value of assets
related to direct loans..... 3,679 3,668
1504 Net value of assets related to
post-1991 acquired defaulted
guaranteed loans receivable:
Foreclosed property............. 38
------------ -------------- ------------ -------------
1999 Total assets.................... 9,863 5,095
LIABILITIES:
Federal liabilities:
2103 Debt............................ 9,742 5,081
2105 Other........................... 41
Non-Federal liabilities:
2201 Accounts payable................ 75 8
2207 Other........................... 5 6
------------ -------------- ------------ -------------
2999 Total liabilities............... 9,863 5,095
------------ -------------- ------------ -------------
4999 Total liabilities and net position 9,863 5,095
-----------------------------------------------------------------------------------------------
Note: Consistent with Government-wide practice, information for 2004
and 2005 was not required to be collected.
Disaster Loan Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
01.01 Interest expense to Treasury...... 3 2 1
01.03 Other expenses.................... 12 5
--------- --------- ----------
10.00 Total new obligations........... 3 14 6
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 115 72
22.00 New budget authority from
offsetting collections (gross).. 64 79 22
22.10 Resources available from
recoveries of prior year
obligations..................... 9
22.40 Capital transfer to general fund.. -113 -137 -16
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 75 14 6
23.95 Total new obligations............. -3 -14 -6
24.40 Unobligated balance carried
forward, end of year............ 72
New budget authority (gross), detail:
Mandatory:
60.00 Appropriation................... 50
69.00 Offsetting collections (cash)..... 64 29 22
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 64 79 22
Change in obligated balances:
72.40 Obligated balance, start of year.. 10 -8 1
73.10 Total new obligations............. 3 14 6
73.20 Total outlays (gross)............. -12 -5 -4
73.45 Recoveries of prior year
obligations..................... -9
74.40 Obligated balance, end of year.... -8 1 3
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 12 5 4
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.40 Asset Sale Proceeds........... -40
88.40 Loan repayments............... -13 -11 -8
88.40 Other collection of Principal. -9 -7
88.40 Other collection of Principal. -11 -9 -7
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -64 -29 -22
Net budget authority and outlays:
89.00 Budget authority.................. 50
90.00 Outlays........................... -52 -24 -18
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 100 44 31
Repayments:
1251 Repayments and prepayments...... -13 -11 -8
1252 Proceeds from loan asset sales
to the public or discounted... -40
1262 Adjustments: Discount on loan
asset sales to the public or
discounted...................... -3
1263 Write-offs for default: Direct
loans........................... -2 -1
--------- --------- ----------
1290 Outstanding, end of year........ 44 31 22
---------------------------------------------------------------------------
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.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2002 actual 2003 actual 2004 est. 2005 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 124 64
Investments in US securities:
1106 Receivables, net.............. 12
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 100 46
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -11
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 89 46
1901 Other Federal assets: Other assets 16
------------ -------------- ------------ -------------
1999 Total assets.................... 241 110
LIABILITIES:
Federal liabilities:
2101 Accounts payable................ 9 3
2105 Other........................... 104 106
Non-Federal liabilities:
2201 Accounts payable................ 127 1
2207 Other........................... 1
------------ -------------- ------------ -------------
2999 Total liabilities............... 241 110
------------ -------------- ------------ -------------
4999 Total liabilities and net position 241 110
-----------------------------------------------------------------------------------------------
Note: Consistent with Government-wide practice, information for 2004
and 2005 was not required to be collected.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
25.2 Other services.................... 12 5
43.0 Interest and dividends............ 3 2 1
--------- --------- ----------
99.9 Total new obligations........... 3 14 6
---------------------------------------------------------------------------
Pollution Control Equipment Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct program.................... 3 3
--------- --------- ----------
10.00 Total new obligations (object
class 42.0)................... 3 3
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 3 3
22.00 New budget authority (gross)...... 3 3 3
[[Page 1076]]
22.40 Capital transfer to general fund.. -3 -3
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 3 3 3
23.95 Total new obligations............. -3 -3
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 3
73.20 Total outlays (gross)............. -3 -3
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 3 3
Net budget authority and outlays:
89.00 Budget authority.................. 3 3 3
90.00 Outlays........................... 3 3
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 12 8 5
2251 Repayments and prepayments........ -2 -2
Adjustments:
2261 Terminations for default that
result in loans receivable.... -1 -1
2264 Other adjustments, net.......... -4
--------- --------- ----------
2290 Outstanding, end of year........ 8 5 2
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 8 5 2
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 49 49 50
2331 Disbursements for guaranteed
loan claims................... 1 1
--------- --------- ----------
2390 Outstanding, end of year...... 49 50 51
---------------------------------------------------------------------------
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.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2002 actual 2003 actual 2004 est. 2005 est.
-----------------------------------------------------------------------------------------------
ASSETS:
1101 Federal assets: Fund balances with
Treasury........................ 27 3
1206 Non-Federal assets: Receivables,
net............................. 5
1701 Net value of assets related to
pre-1992 direct loans receivable
and acquired defaulted
guaranteed loans receivable:
Defaulted guaranteed loans,
gross........................... 16
------------ -------------- ------------ -------------
1999 Total assets.................... 32 19
LIABILITIES:
2104 Federal liabilities: Resources
payable to Treasury............. 19
Non-Federal liabilities:
2201 Accounts payable................ 1
2207 Other........................... 31
------------ -------------- ------------ -------------
2999 Total liabilities............... 32 19
NET POSITION:
3300 Cumulative results of operations..
------------ -------------- ------------ -------------
3999 Total net position..............
------------ -------------- ------------ -------------
4999 Total liabilities and net position 32 19
-----------------------------------------------------------------------------------------------
Note: Consistent with Government-wide practice, information for 2004
and 2005 was not required to be collected.
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. (Division B,
H.R. 2673, Consolidated Appropriations Bill, FY 2004.)
Note.--Section 167, Division H, HR 2673, Consolidated Appropriations
Bill, FY 2004, appropriates additional amounts for the Small Business
Administration for 2004. The language is presented with the government-
wide general provisions.
General Fund Receipt Accounts
(in millions of dollars)
----------------------------------------------------------------------------
2003 actual 2004 est. 2005 est.
----------------------------------------------------------------------------
Offsetting receipts from the public:
73-272130 Disaster loan program,
Downward reestimates of subsidies... 42 5
73-272230 Business loan program,
Downward reestimates of subsidies... 258 226
--------- --------- ----------
General Fund Offsetting receipts from
the public............................. 300 231
---------------------------------------------------------------------------