[Appendix]
[Detailed Budget Estimates by Agency]
[Small Business Administration]
[From the U.S. Government Printing Office, www.gpo.gov]
THE BUDGET FOR FISCAL YEAR 2006
[[Page 1097]]
SMALL BUSINESS ADMINISTRATION
For 2006, the Budget requests $593 million in new budget authority
for the Small Business Administration (SBA). SBA's continuing operations
will provide approximately $25.8 billion in new loans to small
businesses, funding for non-credit programs, and funding for the
disaster loan 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 [106-554] 108-447,
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, [$322,335,000] $307,159,000: 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 [2005] 2006 or fiscal year [2006] 2007 as
authorized[: Provided further, That the Small Business Administration is
authorized to award grants under the Women's Business Center
Sustainability Pilot Program established by section 4(a) of Public Law
106-165 (15 U.S.C. 656(l)): Provided further, That, of the amounts
provided for Women's Business Centers, not less than 48 percent shall be
available to continue Women's Business Centers in sustainability
status]. (Departments of Commerce, Justice, and State, the Judiciary,
and Related Agencies Appropriations Act, 2005.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Executive Direction............... 40 39 41
00.02 Capital Access.................... 33 37 39
00.03 Gov. Contracting/ Bus. Development 19 19 24
00.04 Entrepreneurial Development....... 5 5 6
00.05 Management & Adminstration........ 17 15 20
00.06 Office of Chief Information
Officer......................... 26 26 32
00.07 Regional & District Offices....... 132 131 127
00.08 Agency Wide Costs................. 49 48 50
00.09 Non Credit Programs............... 141 133 108
00.10 Congressional Initiatives......... 45 40
00.12 Disaster.......................... 104 502 114
09.00 Reimbursable program.............. 3 12 13
--------- --------- ----------
10.00 Total new obligations........... 614 1,007 574
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 8 40 70
22.00 New budget authority (gross)...... 645 1,037 508
22.10 Resources available from
recoveries of prior year
obligations..................... 2
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 655 1,077 578
23.95 Total new obligations............. -614 -1,007 -574
23.98 Unobligated balance expiring or
withdrawn....................... -1
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 40 70 4
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 372 362 307
40.35 Appropriation permanently
reduced....................... -4 -5
42.00 Transferred from other accounts. 30
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 398 357 307
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 247 680 201
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 645 1,037 508
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 311 288 254
73.10 Total new obligations............. 614 1,007 574
73.20 Total outlays (gross)............. -623 -1,041 -532
73.40 Adjustments in expired accounts
(net)........................... -12
73.45 Recoveries of prior year
obligations..................... -2
--------- --------- ----------
74.40 Obligated balance, end of year.. 288 254 296
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 466 876 370
86.93 Outlays from discretionary
balances........................ 157 165 162
--------- --------- ----------
87.00 Total outlays (gross)........... 623 1,041 532
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.00 Payments from business loan
program account............. -127 -125 -129
88.00 Payments from disaster loan
program account............. -113 -540 -56
88.00 Federal sources............... -3 -12 -13
88.45 Offsetting governmental
collections (from non-
Federal sources)............ -4 -3 -3
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -247 -680 -201
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 398 357 307
90.00 Outlays........................... 376 361 331
---------------------------------------------------------------------------
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 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Direct obligations:
Personnel compensation:
11.1 Full-time permanent........... 177 177 174
11.3 Other than full-time permanent 11 11 10
11.5 Other personnel compensation.. 3 3 3
--------- --------- ----------
11.9 Total personnel compensation 191 191 187
12.1 Civilian personnel benefits..... 49 49 47
21.0 Travel and transportation of
persons....................... 6 5 6
23.1 Rental payments to GSA.......... 35 34 35
23.3 Communications, utilities, and
miscellaneous charges......... 6 6 6
24.0 Printing and reproduction....... 1 1 1
25.2 Other services.................. 48 33 51
25.3 Other purchases of goods and
services from Government
accounts (Disaster
Administrative Expenses)...... 104 502 114
26.0 Supplies and materials.......... 2 2 2
31.0 Equipment....................... 2 2 5
41.0 Grants, subsidies, and
contributions................. 170 173 110
--------- --------- ----------
99.0 Direct obligations............ 614 998 564
99.0 Reimbursable obligations.......... 9 10
--------- --------- ----------
99.9 Total new obligations........... 614 1,007 574
---------------------------------------------------------------------------
Personnel Summary
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Direct:
1001 Total compensable workyears:
Civilian full-time equivalent
employment...................... 3,304 4,075 3,164
Reimbursable:
2001 Total compensable workyears:
Civilian full-time equivalent
employment...................... 11 11 11
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[[Page 1098]]
Note.--The personnel summary includes regular (non-disaster) full-
time equivalents (FTEs) of 2461, 2380, 2248 in 2004, 2005, and 2006,
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,
[$13,014,000] $14,500,000. (Departments of Commerce, Justice, and State,
the Judiciary, and Related Agencies Appropriations Act, 2005.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0200-0-1-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Audit............................. 5 5 6
00.02 Investigations.................... 7 7 8
00.03 Management Policy................. 1 1 1
00.04 General Office/Legal Counsel...... 1 1 1
--------- --------- ----------
10.00 Total new obligations........... 14 14 16
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 14 14 16
23.95 Total new obligations............. -14 -14 -16
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 13 13 15
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 1 1 1
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 14 14 16
----------------------------------------------------------------------------
Change in obligated balances:
73.10 Total new obligations............. 14 14 16
73.20 Total outlays (gross)............. -12 -14 -16
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 12 13 15
86.93 Outlays from discretionary
balances........................ 1 1
--------- --------- ----------
87.00 Total outlays (gross)........... 12 14 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 13 15
90.00 Outlays........................... 13 13 15
---------------------------------------------------------------------------
The Budget proposes $14.5 million in new budget authority and $0.9
million transferred from the Disaster Loans Program account for a total
of $15.4 million for the Office of Inspector General (OIG) for 2006.
This appropriation provides funds for agency-wide audit, investigative,
and related 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 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Direct obligations:
Personnel compensation:
11.1 Full-time permanent........... 8 9 10
11.5 Other personnel compensation.. 1 1 1
--------- --------- ----------
11.9 Total personnel compensation 9 10 11
12.1 Civilian personnel benefits..... 2 2 2
25.2 Other services.................. 2 1 2
--------- --------- ----------
99.0 Direct obligations............ 13 13 15
99.0 Reimbursable obligations.......... 1 1 1
--------- --------- ----------
99.9 Total new obligations........... 14 14 16
---------------------------------------------------------------------------
Personnel Summary
----------------------------------------------------------------------------
Identification code 73-0200-0-1-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Direct:
1001 Total compensable workyears:
Civilian full-time equivalent
employment...................... 98 103 107
---------------------------------------------------------------------------
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,
[$2,900,000] $3,000,000, to remain available until expended.
(Departments of Commerce, Justice, and State, the Judiciary, and Related
Agencies Appropriations Act, 2005.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4156-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
09.01 Reimbursable obligations.......... 8 10 10
--------- --------- ----------
10.00 Total new obligations (object
class 42.0)................... 8 10 10
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 23 23 22
22.00 New budget authority (gross)...... 8 9 9
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 31 32 31
23.95 Total new obligations............. -8 -10 -10
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 23 22 21
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 3 3
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 8 6 6
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 8 9 9
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 1 1
73.10 Total new obligations............. 8 10 10
73.20 Total outlays (gross)............. -7 -10 -10
--------- --------- ----------
74.40 Obligated balance, end of year.. 1 1 1
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 7 9 9
86.93 Outlays from discretionary
balances........................ 1 1
--------- --------- ----------
87.00 Total outlays (gross)........... 7 10 10
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -8 -6 -6
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 3 3
90.00 Outlays........................... 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 2006, the Budget proposes a $1.7 billion program level that is
anticipated to be sufficient to accommodate demand from prior-approval
and preferred sureties.
[[Page 1099]]
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4156-0-3-376
2003 actual
2004 actual
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101
Fund balances with Treasury
23
23
Investments in US securities:
1106
Receivables, net
6
5
1999
Total assets
29
28
LIABILITIES:
2201
Non-Federal liabilities: Accounts payable
20
21
2999
Total liabilities
20
21
NET POSITION:
3100
Appropriated capital
281
1
3300
Cumulative results of operations
-272
6
3999
Total net position
9
7
4999
Total liabilities and net position
29
28
-----------------------------------------------------------------------------------------------
Credit accounts:
Business Loans Program Account
[For the cost of direct loans, $1,455,000, 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: Provided further, That subject] Subject to section
502 of the Congressional Budget Act of 1974, during fiscal year [2005]
2006 commitments to guarantee loans under section 503 of the Small
Business Investment Act of 1958, shall not exceed [$5,000,000,000]
$5,500,000,000: [Provided further, That subsection 503(f) of the Small
Business Investment Act of 1958 (15 U.S.C. 697(f)), as amended by
section 2 of Public Law 108-217, is further amended by striking
``October 1, 2004'' and inserting ``October 1, 2005'':] Provided
[further], That during fiscal year [2005] 2006 commitments for general
business loans authorized under section 7(a) of the Small Business Act,
shall not exceed [$16,000,000,000] $16,500,000,000: Provided further,
That during fiscal year [2005] 2006 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]
$3,000,000,000: Provided further, That during fiscal year [2005] 2006
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]
$12,000,000,000.
In addition, for administrative expenses to carry out the direct and
guaranteed loan programs, [$126,653,000] $129,000,000, 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, 2005.)
General Fund Credit Receipt Accounts (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
0102 Negative subsidies/subsidy
reestimates..................... 228 470
---------------------------------------------------------------------------
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loan subsidy............... 2 1
00.02 Guaranteed loan subsidy........... 91
00.05 Reestimate of direct loan......... 26
00.06 Interest on direct loan
reestimation.................... 4
00.07 Reestimate of loan guarantee
subsidy......................... 1,939 1,357
00.08 Interest on reestimates of loan
guarantee subsidy............... 465 549
00.09 Administrative expenses........... 127 125 129
--------- --------- ----------
10.00 Total new obligations........... 2,654 2,032 129
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 26 15 15
22.00 New budget authority (gross)...... 2,643 2,032 129
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 2,669 2,047 144
23.95 Total new obligations............. -2,654 -2,032 -129
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 15 15 15
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 209 128 129
40.35 Appropriation permanently
reduced....................... -2 -2
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 207 126 129
Mandatory:
60.00 Appropriation................... 2,434 1,906
Discretionary:
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 2
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 2,643 2,032 129
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 85 62 61
73.10 Total new obligations............. 2,654 2,032 129
73.20 Total outlays (gross)............. -2,675 -2,033 -128
73.40 Adjustments in expired accounts
(net)........................... -2
--------- --------- ----------
74.40 Obligated balance, end of year.. 62 61 62
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 177 79 81
86.93 Outlays from discretionary
balances........................ 64 48 47
86.97 Outlays from new mandatory
authority....................... 2,434 1,906
--------- --------- ----------
87.00 Total outlays (gross)........... 2,675 2,033 128
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -2
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 2,641 2,032 129
90.00 Outlays........................... 2,673 2,033 128
---------------------------------------------------------------------------
Performance Metrics
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Section 504 Certified Development Company
Guaranteed Loan Program:
36401 Estimated number of jobs created
or retained..................... 152,287 84,797
36403 Number of 504 loans guaranteed.... 8,357 6,300
36404 Cost to originate each loan....... 3,912 3,491
Section 7 (a) Guaranteed Loan Program:
234618Administrative cost per loan ($).. 2,349 997 729
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
115001Micro loans....................... 23 10
--------- --------- ----------
115901Total direct loan levels.......... 23 10
Direct loan subsidy (in percent):
132001Micro loans....................... 9.55 10.25 0.00
--------- --------- ----------
132901Weighted average subsidy rate..... 9.55 10.25 0.00
Direct loan subsidy budget authority:
133001Micro loans....................... 2 1
--------- --------- ----------
133901Total subsidy budget authority.... 2 1
Direct loan subsidy outlays:
134001Micro loans....................... 2 1
--------- --------- ----------
134901Total subsidy outlays............. 2 1
Direct loan upward reestimate subsidy budget
authority:
135001Msc. loans........................ 30
--------- --------- ----------
135901Total upward reestimate budget
authority....................... 30
Direct loan downward reestimate subsidy budget
authority:
137001Misc. loans....................... -2
--------- --------- ----------
137901Total downward reestimate budget
authority....................... -2
----------------------------------------------------------------------------
Guaranteed loan levels supportable by subsidy
budget authority:
215001Microloan guarantees..............
[[Page 1100]]
215002General business--7(a)............ 4,623 16,000 16,500
215002General business--7(a)............ 7,204
215003General business--Terrorist
response........................
215004Section 504....................... 3,966 5,000 5,500
215005Section 504 -DELTA................
215006SBIC debentures................... 607 3,250 3,000
215007SBIC participating securities..... 4,000
215008New Market Venture Capital........ 3
215009General business 7(a) DELTA.......
215010Secondary market guarantee........ 3,572 10,000 12,000
--------- --------- ----------
215901Total loan guarantee levels....... 23,972 34,253 37,000
Guaranteed loan subsidy (in percent):
232001Microloan guarantees.............. 8.66 8.66 0.00
232002General business--7(a)............ 1.06 0.00 0.00
232002General business--7(a)............ 0.58 0.00 0.00
232003General business--Terrorist
response........................ 1.06 1.06 0.00
232004Section 504....................... 0.00 0.00 0.00
232005Section 504-DELTA................. 0.00 0.88 0.00
232006SBIC debentures................... 0.00 0.00 0.00
232007SBIC participating securities..... 0.00 0.00 0.00
232008New Market Venture Capital........ 16.05 16.03 0.00
232009General business 7(a) DELTA....... 0.00 1.56 0.00
232010Secondary market guarantee........ 0.00 0.00 0.00
--------- --------- ----------
232901Weighted average subsidy rate..... 0.38 0.00 0.00
Guaranteed loan subsidy budget authority:
233001Microloan guarantees..............
233002General business--7(a)............ 49
233002General business--7(a)............ 42
233003General business--Terrorist
response........................
233004Section 504.......................
233005Section 504-DELTA.................
233006SBIC debentures...................
233007SBIC participating securities.....
233008New Market Venture Capital........
233009General business 7(a) DELTA.......
233010Secondary market guarantee........
--------- --------- ----------
233901Total subsidy budget authority.... 91
Guaranteed loan subsidy outlays:
234001Microloan guarantees..............
234002General business--7(a)............ 110
234002General business--7(a)............
234003General business--7(a) terrorist
response........................
234004Section 504.......................
234005Section 504- DELTA................
234006SBIC debentures...................
234007SBIC participating securities.....
234008New Market Venture Capital........
234009General business 7(a) -DELTA......
234010Secondary market guarantee........
--------- --------- ----------
234901Total subsidy outlays............. 110
Guaranteed loan upward reestimate subsidy
budget authority:
235001Microloan guarantees..............
235002General business 7(a)............. 304 556
235003General business--7(a) terrorist
response........................
235004Section 504....................... 3 221
235005Section 504-DELTA.................
235006SBIC debentures................... 128 117
235007SBIC participating securities..... 1,864 968
235008New Market Venture Capital........
235009General business 7(a) -DELTA......
235010Secondary market guarantee........ 105 44
--------- --------- ----------
235901Total upward reestimate budget
authority....................... 2,404 1,906
Guaranteed loan downward reestimate subsidy
budget authority:
237001Microloan guarantees..............
237002general business 7(a)............. -106 -135
237003General business--7(a)-terrorist
response........................ -13
237004Section 504....................... -82 -98
237005Section 504 -DELTA................
237006SBIC debentures................... -38 -178
237007SBIC participating securities..... -46
237008New Market Venture Capital........
237009General business 7(a)--DELTA......
237010Secondary market guarantee........
--------- --------- ----------
237901Total downward reestimate subsidy
budget authority................ -226 -470
----------------------------------------------------------------------------
Administrative expense data:
351001Budget authority.................. 126 127 129
359001Outlays from new authority........ 126 127 128
---------------------------------------------------------------------------
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 2006, 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 credit subsidy obligations.
The Section 7(a) program provides general business credit
assistance. The requested program level for 2006 is $16.5 billion. The
Section 504 CDC Program is for long-term fixed rate financing and will
require a program level of $5.5 billion in 2006. The Small Business
Investment Company (SBIC) program provides credit to support venture
capital investments. The Budget proposes a program level of $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 principal paid by borrowers on pooled loans and
interest on borrowers' payments received prior to their disbursement to
the secondary holders. The earnings on the balances fund the SBA's
guarantee of the timely payment of principal and interest owed to the
holders of SBA guaranteed pool securities.
SBA budgets 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 $14 billion of currently
outstanding investments held by secondary market pool holders.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
25.2 Other services.................... 126 125 129
41.0 Grants, subsidies, and
contributions................... 2,528 1,907
--------- --------- ----------
99.9 Total new obligations........... 2,654 2,032 129
---------------------------------------------------------------------------
Business Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4148-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loans...................... 23 10
00.02 Interest on Treasury borrowing.... 21 25
00.03 Other expense..................... 1 1 1
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal...................... 45 36 1
08.02 Payment of downward reestimate to
a receipt account............... 1
08.04 Payment of interest on downward
reestimate to a receipt account. 1
--------- --------- ----------
[[Page 1101]]
08.91 Direct Program by Activities--
Subtotal...................... 2
--------- --------- ----------
10.00 Total new obligations........... 47 36 1
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 315 74
22.00 New financing authority (gross)... 88 39 18
22.10 Resources available from
recoveries of prior year
obligations..................... 2
22.60 Portion applied to repay debt..... -284 -77 -17
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 121 36 1
23.95 Total new obligations............. -47 -36 -1
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 74
----------------------------------------------------------------------------
New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow............. 22
Spending authority from offsetting
collections:
Discretionary:
68.00 Offsetting collections (cash). 67 39 18
68.10 Change in uncollected customer
payments from Federal
sources (unexpired)......... -1
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)..... 66 39 18
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 88 39 18
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 28 29 35
73.10 Total new obligations............. 47 36 1
73.20 Total financing disbursements
(gross)......................... -45 -30 -5
73.45 Recoveries of prior year
obligations..................... -2
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... 1
--------- --------- ----------
74.40 Obligated balance, end of year.. 29 35 31
87.00 Total financing disbursements
(gross)......................... 45 30 5
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Federal sources: Payments from
program account............. -2 -1
88.00 Upward reestimate............. -26
88.00 Interest on reestimate........ -4
88.25 Interest on uninvested funds.. -15 -16
88.40 Repayments of principal, net.. -18 -13 -11
88.40 Other income.................. -2 -9 -7
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -67 -39 -18
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. 1
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 22
90.00 Financing disbursements........... -22 -9 -13
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4148-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........ 23 10
--------- --------- ----------
1150 Total direct loan obligations... 23 10
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 127 132 127
1231 Disbursements: Direct loan
disbursements................... 21 15 5
1251 Repayments: Repayments and
prepayments..................... -15 -14 -12
1263 Write-offs for default: Direct
loans........................... -1 -6 -5
--------- --------- ----------
1290 Outstanding, end of year........ 132 127 115
---------------------------------------------------------------------------
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
2003 actual
2004 actual
-----------------------------------------------------------------------------------------------
ASSETS:
1101
Federal assets: Fund balances with Treasury
343
102
1206
Non-Federal assets: Receivables, net
2
Net value of assets related to
post-1991 direct loans
receivable:
1401
Direct loans receivable, gross
127
132
1405
Allowance for subsidy cost (-)
-10
-42
1499
Net present value of assets related to direct loans
117
90
1999
Total assets
460
194
LIABILITIES:
Federal liabilities:
2101
Accounts payable
2
2103
Debt
454
191
2207
Non-Federal liabilities: Other
4
3
2999
Total liabilities
460
194
4999
Total liabilities and net position
460
194
-----------------------------------------------------------------------------------------------
Business Guaranteed Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Default claims.................... 1,372 1,264 1,350
00.02 Interests on Treasury borrowing... 154 175 200
00.05 Other Expenses.................... 192 15 15
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal...................... 1,718 1,454 1,565
--------- --------- ----------
02.00 Interest on Treasury borrowing.. 1,718 1,454 1,565
08.02 Payment of downward reestimate to
receipt account................. 189 323
08.04 Payment of interest on downward
reestimate to receipt account... 37 147
--------- --------- ----------
08.91 Direct Program by Activities--
Subtotal...................... 226 470
--------- --------- ----------
10.00 Total new obligations........... 1,944 1,924 1,565
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 249 3,071 4,693
22.00 New financing authority (gross)... 4,766 3,546 1,600
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 5,015 6,617 6,293
23.95 Total new obligations............. -1,944 -1,924 -1,565
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 3,071 4,693 4,728
----------------------------------------------------------------------------
New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow............. 1,400 500 300
Spending authority from offsetting
collections:
Discretionary:
68.00 Offsetting collections (cash). 3,412 3,046 1,300
68.10 Change in uncollected customer
payments from Federal
sources (unexpired)......... -46
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)..... 3,366 3,046 1,300
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 4,766 3,546 1,600
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. -68 -39
73.10 Total new obligations............. 1,944 1,924 1,565
73.20 Total financing disbursements
(gross)......................... -1,961 -1,885 -1,565
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... 46
--------- --------- ----------
74.40 Obligated balance, end of year.. -39
87.00 Total financing disbursements
(gross)......................... 1,961 1,885 1,565
----------------------------------------------------------------------------
[[Page 1102]]
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Payments from program account. -111
88.00 Upward reestimate............. -1,939 -1,357
88.00 Interest on reestimate........ -465 -549
88.00 Other......................... -18
88.25 Interest on uninvested funds.. -122 -125 -130
88.40 Fees.......................... -501 -700 -800
88.40 Recoveries.................... -244 -300 -350
88.40 other......................... -12 -15 -20
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -3,412 -3,046 -1,300
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. 46
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 1,400 500 300
90.00 Financing disbursements........... -1,451 -1,161 265
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on commitments:
2111 Limitation on guaranteed loans
made by private lenders......... 23,972 34,253 37,000
--------- --------- ----------
2150 Total guaranteed loan
commitments................... 23,972 34,253 37,000
2199 Guaranteed amount of guaranteed
loan commitments................ 15,957 21,375 21,375
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 52,630 56,962 67,560
2231 Disbursements of new guaranteed
loans........................... 14,067 21,000 21,000
2251 Repayments and prepayments........ -8,363 -9,100 -9,900
2261 Adjustments: Terminations for
default that result in loans
receivable...................... -1,372 -1,302 -1,267
--------- --------- ----------
2290 Outstanding, end of year........ 56,962 67,560 77,393
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 54,975 51,000 53,600
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 1,830 2,769 3,412
2331 Disbursements for guaranteed
loan claims................... 1,372 1,302 1,267
2351 Repayments of loans receivable.. -302 -227 -232
2361 Write-offs of loans receivable.. -241 -255 -275
2364 Other adjustments, net.......... 110 -177 -150
--------- --------- ----------
2390 Outstanding, end of year...... 2,769 3,412 4,022
---------------------------------------------------------------------------
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
2003 actual
2004 actual
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101
Fund balances with Treasury
181
3,032
Investments in US securities:
1106
Receivables, net
18
1,763
Non-Federal assets:
1206
Receivables, net
30
34
1207
Advances and prepayments
19
Net value of assets related to
post-1991 acquired defaulted
guaranteed loans receivable:
1501
Defaulted guaranteed loans receivable, net
1,840
2,769
1505
Allowance for subsidy cost (-)
-2,459
1599
Net present value of assets related to defaulted guaranteed loans
1,840
310
1901
Other Federal assets: Public and other
720
1999
Total assets
2,789
5,158
LIABILITIES:
Federal liabilities:
2101
Accounts payable
5
2103
Debt
1,092
2,492
2105
Other
488
Non-Federal liabilities:
2201
Accounts payable
54
23
2204
Liabilities for loan guarantees
1,626
2,175
2207
Other
12
-20
2999
Total liabilities
2,789
5,158
4999
Total liabilities and net position
2,789
5,158
-----------------------------------------------------------------------------------------------
Business Loan Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Interest Expense to Treasury...... 8 5 4
00.05 Guaranteed loan default claims.... 6 4 3
--------- --------- ----------
10.00 Total new obligations........... 14 9 7
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 143 93
22.00 New budget authority (gross)...... 128 105 59
22.40 Capital transfer to general fund.. -143 -172 -39
22.60 Portion applied to repay debt to
FFB............................. -21 -17 -13
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 107 9 7
23.95 Total new obligations............. -14 -9 -7
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 93
----------------------------------------------------------------------------
New budget authority (gross), detail:
Mandatory:
60.00 Appropriation................... 50 50 20
69.00 Offsetting collections (cash)..... 81 55 39
69.10 Change in uncollected customer
payments from Federal sources
(unexpired)..................... -3
--------- --------- ----------
69.90 Spending authority from
offsetting collections (total
mandatory).................... 78 55 39
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 128 105 59
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 36 15 4
73.10 Total new obligations............. 14 9 7
73.20 Total outlays (gross)............. -38 -20 -10
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... 3
--------- --------- ----------
74.40 Obligated balance, end of year.. 15 4 1
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 38 20 10
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.00 Federal sources............... -3
Loan repayments:
88.40 Financing programs-principal -23 -18 -11
88.40 Investment programs-
principal................. -8 -5 -4
88.40 Interest Income-Business &
investment................ -10 -7 -6
88.40 Fees........................ -6 -4 -3
88.40 Collection on FFB loans..... -21 -17 -13
88.40 Other Income-both Business
and Investment............ -10 -4 -2
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -81 -55 -39
[[Page 1103]]
Against gross budget authority only:
88.95 Change in uncollected customer
payments from Federal sources
(unexpired)................... 3
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 50 50 20
90.00 Outlays........................... -43 -35 -29
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 106 75 51
1251 Repayments: Repayments and
prepayments..................... -26 -21 -17
1263 Write-offs for default: Direct
loans........................... -5 -3 -1
--------- --------- ----------
1290 Outstanding, end of year........ 75 51 33
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 78 57 40
1251 Repayments: Repayments and
prepayments..................... -21 -17 -13
--------- --------- ----------
1290 Outstanding, end of year........ 57 40 27
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 758 531 375
2251 Repayments and prepayments........ -205 -150 -119
Adjustments:
2261 Terminations for default that
result in loans receivable.... -6 -6 -5
2264 Other adjustments, net.......... -16
--------- --------- ----------
2290 Outstanding, end of year........ 531 375 251
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 467 330 220
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 106 79 60
2331 Disbursements for guaranteed
loan claims................... 6 6 5
2351 Repayments of loans receivable.. -26 -15 -13
2361 Write-offs of loans receivable.. -8 -7 -5
2364 Other adjustments, net.......... 1 -3 -1
--------- --------- ----------
2390 Outstanding, end of year...... 79 60 46
---------------------------------------------------------------------------
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.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4154-0-3-376
2003 actual
2004 actual
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101
Fund balances with Treasury
179
108
Investments in US securities:
1106
Receivables, net
3
3
Non-Federal assets:
1206
Receivables, net
1
1
1207
Advances and prepayments
4
4
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601
Direct loans, gross
184
133
1699
Value of assets related to direct loans
184
133
1901
Other Federal assets: Other assets
46
35
1999
Total assets
417
284
LIABILITIES:
Federal liabilities:
2101
Accounts payable
32
8
2103
Debt
80
58
2105
Other Liabilities
274
183
Non-Federal liabilities:
2201
Accounts payable
6
8
2207
Other Liabilities
25
27
2999
Total liabilities
417
284
4999
Total liabilities and net position
417
284
-----------------------------------------------------------------------------------------------
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
42.0 Insurance claims and indemnities.. 6 4 3
43.0 Interest and dividends............ 8 5 4
--------- --------- ----------
99.9 Total new obligations........... 14 9 7
---------------------------------------------------------------------------
Disaster Loans Program Account
For the cost of direct loans authorized by section 7(b) of the Small
Business Act, $83,335,000, 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 authorized by section 7(b), of the Small Business Act,
[$113,159,000] $56,000,000, to remain available until expended, which
may be transferred to and merged with appropriations for Salaries and
Expenses, of which [$500,000] $900,000 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 [$104,409,000] $46,100,000 is for direct administrative expenses
of loan making and servicing to carry out the direct loan program[, to
remain available until expended]; and of which [$8,250,000] $9,000,000
is for indirect administrative expenses: Provided, That any amount in
excess of [$8,250,000] $9,000,000 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, 2005.)
[For an additional amount for ``Disaster Loans Program Account'' for
the cost of direct loans, $501,000,000, 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 an additional amount for ``Disaster Loans Program
Account'' for administrative expenses to carry out the disaster loan
program, $428,000,000, to remain available until expended, which may be
transferred to the appropriations for ``Salaries and Expenses'':
Provided, That no funds shall be transferred to the appropriations for
``Salaries and Expenses'' for indirect administrative expenses: Provided
further, That the amounts provided under this heading are designated as
an emergency requirement pursuant to section 402 of S. Con. Res. 95
(108th Congress), as made applicable to the House of Representatives by
H. Res. 649 (108th Congress) and applicable to the Senate by section
14007 of Public Law 108-287.] (Emergency Supplemental Appropriations for
Hurricane Disasters Assistance Act, 2005.)
General Fund Credit Receipt Accounts (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
0102 Negative subsidies/subsidy
reestimates..................... 2 70
---------------------------------------------------------------------------
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loan subsidy............... 80 501 83
[[Page 1104]]
00.05 Upward reestimate of direct loans. 591 222
00.06 Interest on upward reestimates of
direct loans.................... 537 114
00.09 Administrative expense............ 113 541 56
--------- --------- ----------
10.00 Total new obligations........... 1,321 1,378 139
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 38 29 37
22.00 New budget authority (gross)...... 1,298 1,376 139
22.10 Resources available from
recoveries of prior year
obligations..................... 14 10
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 1,350 1,415 176
23.95 Total new obligations............. -1,321 -1,378 -139
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 29 37 37
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 171 113 139
40.00 Appropriation (supplemental).... 929
40.35 Appropriation permanently
reduced....................... -2 -2
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 169 1,040 139
Mandatory:
60.00 Appropriation................... 1,128 336
Discretionary:
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 1
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 1,298 1,376 139
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 36 43 207
73.10 Total new obligations............. 1,321 1,378 139
73.20 Total outlays (gross)............. -1,300 -1,204 -345
73.45 Recoveries of prior year
obligations..................... -14 -10
--------- --------- ----------
74.40 Obligated balance, end of year.. 43 207 1
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 131 800 107
86.93 Outlays from discretionary
balances........................ 41 68 238
86.97 Outlays from new mandatory
authority....................... 1,128 336
--------- --------- ----------
87.00 Total outlays (gross)........... 1,300 1,204 345
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash)
from: Federal sources......... -1
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 1,297 1,376 139
90.00 Outlays........................... 1,299 1,204 345
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
115001Disaster Loan..................... 664 3,966 810
115001EIDL Terrorist Attack............. 3 16
115001PHY Terrorist Attack.............. 1
--------- --------- ----------
115901Total direct loan levels.......... 668 3,982 810
Direct loan subsidy (in percent):
132001Disaster Loan..................... 11.72 12.86 14.64
132001EIDL Terrorist Attack............. 23.20 0.00 0.00
132001PHY Terrorist Attack.............. 11.72 0.00 0.00
--------- --------- ----------
132901Weighted average subsidy rate..... 11.72 12.86 14.64
Direct loan subsidy budget authority:
133001Disaster Loan..................... 78 510 83
133001EIDL Terrorist Attack............. 1 4
133001PHY Terrorist Attack..............
--------- --------- ----------
133901Total subsidy budget authority.... 79 514 83
Direct loan subsidy outlays:
134001Disaster Loan..................... 58 390 64
134001EIDL Terrorist Attack.............
134001PHY Terrorist Attack..............
--------- --------- ----------
134901Total subsidy outlays............. 58 390 64
Direct loan upward reestimate subsidy budget
authority:
135001Disaster Loan..................... 1,128 336
--------- --------- ----------
135901Total upward reestimate budget
authority....................... 1,128 336
Direct loan downward reestimate subsidy budget
authority:
137001Disaster Loan..................... -2 -70
--------- --------- ----------
137901Total downward reestimate budget
authority....................... -2 -70
----------------------------------------------------------------------------
Administrative expense data:
351001Budget authority.................. 114 541 56
359001Outlays from new authority........ 113 551 56
---------------------------------------------------------------------------
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 2006, SBA will rely on anticipated carry-over balances of $25.3
million from 2005 plus $10 million in recoveries to support $810 million
in loans. The subsidy rate is 14.64 percent.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
25.2 Other services.................... 113 541 56
41.0 Grants, subsidies, and
contributions................... 1,208 837 83
--------- --------- ----------
99.9 Total new obligations........... 1,321 1,378 139
---------------------------------------------------------------------------
Disaster Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loans...................... 668 3,966 810
00.02 Interest on Treasury borrowing.... 335 600 300
00.03 Other............................. 13
--------- --------- ----------
00.91 Direct Program by Activities--
Subtotal...................... 1,016 4,566 1,110
08.02 Payment of downward reestimate to
a receipt account............... 1 27
08.04 Payment of interest on downward
reestimate to a receipt account. 1 43
--------- --------- ----------
08.91 Direct Program by Activities--
Subtotal...................... 2 70
--------- --------- ----------
10.00 Total new obligations........... 1,018 4,636 1,110
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 1,205 2,844
22.00 New financing authority (gross)... 2,550 5,267 1,395
22.10 Resources available from
recoveries of prior year
obligations..................... 107
[[Page 1105]]
22.60 Portion applied to repay debt..... -3,475 -285
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 3,862 4,636 1,110
23.95 Total new obligations............. -1,018 -4,636 -1,110
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 2,844
----------------------------------------------------------------------------
New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow............. 782 3,711 691
Spending authority from offsetting
collections:
Discretionary:
68.00 Offsetting collections (cash). 1,778 1,556 704
68.10 Change in uncollected customer
payments from Federal
sources (unexpired)......... -10
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)..... 1,768 1,556 704
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 2,550 5,267 1,395
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 180 293 2,003
73.10 Total new obligations............. 1,018 4,636 1,110
73.20 Total financing disbursements
(gross)......................... -808 -2,926 -1,100
73.45 Recoveries of prior year
obligations..................... -107
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... 10
--------- --------- ----------
74.40 Obligated balance, end of year.. 293 2,003 2,013
87.00 Total financing disbursements
(gross)......................... 808 2,926 1,100
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Payments from program account. -59 -390 -64
88.00 Upward reestimate............. -999 -222
88.00 Interest on upward reestimate. -129 -114
88.25 Interest income from Treasury. -178 -375 -275
88.40 Repayments of principal, net.. -410 -450 -350
88.40 Collection of misc.
receivables................. -3 -5 -15
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -1,778 -1,556 -704
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. 10
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 782 3,711 691
90.00 Financing disbursements........... -971 1,370 396
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........
1131 Direct loan obligations exempt
from limitation................. 668 3,966 810
--------- --------- ----------
1150 Total direct loan obligations... 668 3,966 810
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 2,935 3,034 5,692
1231 Disbursements: Direct loan
disbursements................... 467 2,900 1,100
1251 Repayments: Repayments and
prepayments..................... -316 -200 -350
1263 Write-offs for default: Direct
loans........................... -52 -42 -60
--------- --------- ----------
1290 Outstanding, end of year........ 3,034 5,692 6,382
---------------------------------------------------------------------------
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
2003 actual
2004 actual
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101
Fund balances with Treasury
1,385
3,137
Investments in US securities:
1106
Interest/Accounts Receivables
64
375
Net value of assets related to
post-1991 direct loans
receivable:
1401
Direct loans receivable, gross
2,935
3,034
1405
Allowance for subsidy cost (-)
-630
-613
1499
Net present value of assets related to direct loans
2,305
2,421
1504
Net value of assets related to post-1991 acquired defaulted guaranteed
loans receivable: Foreclosed property
1,346
1999
Total assets
5,100
5,933
LIABILITIES:
Federal liabilities:
2103
Debt
5,081
5,863
2105
Other
68
Non-Federal liabilities:
2201
Accounts payable
13
2
2207
Other
6
2999
Total liabilities
5,100
5,933
4999
Total liabilities and net position
5,100
5,933
-----------------------------------------------------------------------------------------------
Disaster Loan Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
01.01 Interest expense to Treasury...... 2 1 1
01.03 Other expenses.................... 1 2 2
--------- --------- ----------
10.00 Total new obligations........... 3 3 3
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 60 61
22.00 New budget authority from
offsetting collections (gross).. 64 61 28
22.40 Capital transfer to general fund.. -60 -119 -25
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 64 3 3
23.95 Total new obligations............. -3 -3 -3
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 61
----------------------------------------------------------------------------
New budget authority (gross), detail:
Mandatory:
60.00 Appropriation................... 50 50 20
69.00 Offsetting collections (cash)..... 14 11 8
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 64 61 28
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 4 3 2
73.10 Total new obligations............. 3 3 3
73.20 Total outlays (gross)............. -4 -4 -3
--------- --------- ----------
74.40 Obligated balance, end of year.. 3 2 2
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 4 4 3
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.40 Loan repayments............... -8 -8 -6
88.40 Other collection.............. -6 -3 -2
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -14 -11 -8
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 50 50 20
90.00 Outlays........................... -10 -7 -5
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 44 35 25
[[Page 1106]]
1251 Repayments: Repayments and
prepayments..................... -8 -8 -6
1263 Write-offs for default: Direct
loans........................... -1 -2 -1
--------- --------- ----------
1290 Outstanding, end of year........ 35 25 18
---------------------------------------------------------------------------
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
2003 actual
2004 actual
-----------------------------------------------------------------------------------------------
ASSETS:
1101
Federal assets: Fund balances with Treasury
64
64
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601
Direct loans, gross
46
35
1603
Allowance for estimated uncollectible loans and interest (-)
-1
1699
Value of assets related to direct loans
46
34
1901
Other Federal assets: Other assets
3
1999
Total assets
110
101
LIABILITIES:
Federal liabilities:
2101
Accounts payable
3
2
2105
Other
107
99
2999
Total liabilities
110
101
4999
Total liabilities and net position
110
101
-----------------------------------------------------------------------------------------------
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
25.2 Other services.................... 1 2 2
43.0 Interest and dividends............ 2 1 1
--------- --------- ----------
99.9 Total new obligations........... 3 3 3
---------------------------------------------------------------------------
Pollution Control Equipment Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Disbursement for Guaranty Loan
Claim........................... 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
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 -1
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 3 1
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 3 3 3
90.00 Outlays........................... 3 1
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 8 6 4
2251 Repayments and prepayments........ -4 -1 -2
Adjustments:
2261 Terminations for default that
result in loans receivable.... -1
2264 Other adjustments, net.......... 2
--------- --------- ----------
2290 Outstanding, end of year........ 6 4 2
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 6 4 2
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 49 49 52
2331 Disbursements for guaranteed
loan claims................... 3 3
--------- --------- ----------
2390 Outstanding, end of year...... 49 52 55
---------------------------------------------------------------------------
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
2003 actual
2004 actual
-----------------------------------------------------------------------------------------------
ASSETS:
1101
Federal assets: Fund balances with Treasury
3
3
1701
Net value of assets related to pre-1992 direct loans receivable and
acquired defaulted guaranteed loans receivable: Defaulted guaranteed loans,
gross
16
16
1999
Total assets
19
19
LIABILITIES:
2104
Federal liabilities: Resources payable to Treasury
19
19
2999
Total liabilities
19
19
4999
Total liabilities and net position
19
19
-----------------------------------------------------------------------------------------------
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, 2005.)
[[Page 1107]]
General Fund Receipt Accounts
(in millions of dollars)
----------------------------------------------------------------------------
2004 actual 2005 est. 2006 est.
----------------------------------------------------------------------------
Offsetting receipts from the public:
73-272130 Disaster loan program,
Downward reestimates of subsidies... 2 70
73-272230 Business loan program,
Downward reestimates of subsidies... 228 470
--------- --------- ----------
General Fund Offsetting receipts from
the public............................. 239 549
---------------------------------------------------------------------------