US GOVERNMENT PRINTING OFFICE 

ANNUAL REPORT 

FISCAL YEAR 1996 
U.S. Government Printing Office 

Performance Measures 

September 30, 1996 

Operating Performance Measures 

Congressional Record Delivery 

The Congressional Record is an extremely important_too:t'andproduct of the legislative process, and is a large part of GPO's 

mission. To gauge how well GPO is serving Congress=hy producing 

the Record timely, GPO has established a deadline of 9 AM the 

following day, when copy is :received in_ GPO_by midnight" 

regardless of whether the Senate or the House of Representatives 

is in session. 

Our actual on-time delivery rate was 78.6 percent in fiscal year 

1996, compared with 96.9 percent in fiscal year 199;>. The 

decline in the indicator resulted from a decision to reduce cost 

and several other factors. In prior years when copy was 

delivered extremely late from Congress, GPO would produce a "cut" 

Record, an issue containing the timely copy, and then produce a 

second book with the other copy. GPO management and 

Congressional leadership decided to forego the extra expense of 

producing a second book. Other factors that contributed to the 

decline in the on-time delivery percentage were that copy was 

received after midnight on 21 occasions, and unusually large 

issues (exceeding 300 printed pages) were produced on 13 

occasions. 

Overtime Management 

GPO makes an ongoing effort to minimize overtime hours. In 

fiscal year 1996, overtime hours decreased to 238,000 hours from 

358,000 hours in fiscal year 1995, or 33.5 percent. The cost of 

overtime in fiscal year 1996 decreased by $3.4 million to $7.5 

million from $10.9 million in fiscal year 1995, or 31.2 percent. 

We were successful in achieving our goal in fiscal year 1996, 

actual overtime hours worked were well below the 358,000 overtime 

hours threshold. Our goal for fiscal year 1997, which takes into 

account the reduction in staffing over the last year, sets a 

level of 333,000 overtime hours as our upper limit. 

Production Chargeable Hours 

Chargeable hours decreased to 955,000 in fiscal year 1996 from 

1,179,000 in fiscal year 1995, a decrease of 224,000 hours, or 
19.0 percent. The results for 1996 did not meet our goal of 

equaling or exceeding the chargeable hours necessary to achieve 

break-even operations. The decrease in chargeable hours results 

from less work being done in the Plant. The drop in workload has 

caused additional downsizing: in September 1996, there were 116 

fewer employees (6.7 percent fewer employees) in GP0 1 S central 

plant than there were in September, 1995. Our fiscal year 1997 

chargeable hour goal is to achieve the level necessary to achieve 

break even in the Plant. 

On-T~e Delivery of Procured Printing 

The Printing Procurement Department contracted with commercial 

printing firms to ship 180,000 jobs in.fiscal y-ear l996 c_ompared 

with 207,000 jobs in fiscal year 1995. For fiscal year 1996,. 

GPO's goal was. to have at least 95 percent of procured pri-ritfng 

orders delivered on-time and-a quality-acceptance rate of·at· 

least 99 percent. GPO attained a 95 ·percent on""_time .delivery 

rate and a 99.2 percent quality acceptance rate. The goals for 

fiscal year 1997 remain the same as those for fiscal year 1996. 

Financial Pedormance:Measures ~ . 

Cash Management 

• Payment Performance - In fiscal year 1996, GPO continued its 

strong payment performance by taking prompt payment discounts 

when it was to the government's advantage. GPO's total purchased 

printing expense for fiscal year 1996 was $513.4 million after 

deducting prompt payment discounts of $7.5 million. The 

resultant 1.46 percent of discounts taken to net purchased 

printing exceeded our fiscal year 1996 goal of 1.4 percent. Our 

goal for fiscal year 1997 remains 1.4 percent. 

Discounts lost increased to $193,000 in fiscal year 1996 from 

$163,000 in fiscal year 1995. The percentages of discounts lost 

to discounts offered were 2.5 percent and 2.1 percent in fiscal 

years 1996 and 1995, respectively. We achieved our goal set for 

fiscal year 1996, which was a maximum of 2.5 percent. Our goal 

for fiscal year 1997 remains at 2.5 percent. 

• Electronic Payments - The use of electronic funds transfer 

(EFT) payments results in a savings for GPO and the Department of 

the Treasury because paper checks do not have to be produced and 

processed. In 1996, approximately 21,500 monthly payments, or 85 

percent, of all GPO payments were made by EFT, compared with 

22,000 monthly payments, or 83 percent of all payments in fiscal 

year 1995. Our goal for fiscal year 1996, which was to show an 

increase in the percentage of EFT payments of total payments, was 

met. 

Page 2 
Debt Management 

• Federal Receivables - In fiscal year 1996, GPO billed Federal 

agencies $760.3 million for printing and binding services. Of 

this amount, $437.9 million, or 57.6 percent, was collected using 

the Department of the Treasury's On-Line Payment and Collection 

(OPAC) system. 

In fiscal year 1996, GPO's average monthly receivables more than 

90 days overdue were $9.2 million, or 25.8 percent of the monthly 

average of outstanding receivables. The Department of Defense's 

(DoD) account at GPO, with an average monthly balance more than 

90 days overdue of $8.3 million, or 91.1 percent of all of GPO's 

delinquent receivables, was by far GPO's largest delinquent 

account. At the end of fiscal year 1996, DoD owed GPO $9.0 

million that was between 31 and 60 days overdue, $3.1 million 

that was between 61 and 90 days overdue, and $8.4 million-that 

was more than 90 days overdue. 

The DoD's slow payment process results from procedures requiring 

that all GPO invoices pass through duplicate review processes 

before payment is initiat·ed; also, DoD does not use Treasury 

Department's OPAC system. Defense Printing Service (DPS) bills 

its customers who review GPO's invoices prior to paying DPS. 

After DPS has been paid, GPO's invoices are sent to Defense 

Finance and Accounting Service where they are reviewed a second 

time before GPO is paid. This additional layer of DoD 

administration has had a sustained negative impact on GPO's 

ability to collect from DoD since the inception of DPS in October 

1992. 

GPO has been working with DoD management to resolve this problem, 

and a special task force has been established within DoD to 

research and pay GPO invoices. Another goal of the task force is 

to convert DoD's payment process from a manual to an electronic 

system. DoD had initially scheduled this conversion for fiscal 

year 1996, but later changed it to fiscal year 1997. GPO's goal 

for fiscal year 1997 is to improve the DoD receivables turnover 

while maintaining non-DoD collections at the current rate. 

Page 3 
Management Comments 

GPO's consolidated financial statements are prepared in 

accordance with generally accepted accounting principles (GAAP) . 

GAAP requires that financial statements be prepared on the 

accrual basis of accounting, whereby expenses are recorded when 

incurred and revenues are recorded when earned, regardless of 

when cash is disbursed or received. GAAP.also requires that the 

statements be prepared in a manner consistent with that of the 

previous year. The accompanying financial.statements provide 

information on all events and economic affairs controlled by GPO 

in conformity with established regulations, procedures, and 

promulgated accounting principles. 

GPO's accounting system includes internal controls designed to 

provide reasonable assurance· that ·asset's are' saf·eguarded ~agah>st 

loss from unauthorized use or ·disposition and that transaction.s 

are properly recorded. To ensure that cadequate :_icrtternal c:controls 

are maintained, management monitors the systems that provide 

management data and initiates modifications or improvements 

deemed necessary to promote operational efficiencies and 

encourage adherence to prescribed managerial policies. 

Operating Issues 

GPO's mission is to assist Congress and Federal agencies in the 

cost-effective creation and replication of information products 

and services and to provide effective and economical public 

access to government information services and products. GPO 

strives to operate and manage its resources as efficiently as 

possible, and to achieve steady gains in productivity. An 

example of GPO's fulfilling this role is found in GPO ACCESS. 

This Internet-based system rapidly and efficiently diffuses a 

wide range of government information at no cost to the user. GPO 

computer systems will also be used to support government-wide 

procurement operations in fiscal year 1997 when the Commerce 

Business Daily is electronically published and disseminated. 

Neither Congress nor GPO has the ability to accurately forecast 

the volume of printing that may be needed for the legislative 

process. In years where the workload exceeds the funding 

available, GPO exercises its authority to temporarily fund 

shortfalls through the Revolving Fund. Funding by Congress for 

their printing requirements in recent years has been adequate and 

no near-term shortfalls are anticipated. 

Over the last few years there has been a steady decline in 

traditional printing and binding in the Federal government. 

Recent GPO financial operating results reflect this decline. 

However, GPO is responding by continuing to downsize its 

workforce, by reducing operating costs, by trying to attain a 

larger share of the Federal printing market, and by encouraging 

Page 4 
customers to adopt electronic-media products when cost effective. 

GPO continues to pursue avenues that will increase the efficiency 

and effectiveness of the Federal government. A good example of 

this is the 5-year strategic alliance formed by GPO and the 

Department of Commerce (DoC) in fiscal year 1996. As a result of 

this agreement, GPO is developing a secure, electronic version of 

the Commerce Business Daily that will allow Federal procurement 

offices world-wide to enter their solicitations to GPO's Internet 

Web-site. The agreement also requires GPO to make the 

solicitations available instantaneously to prospective~bidders. 

So that the private sector is not adversely affected, the data 

will also be made available to commercial value-added-providers. 

The traditional paper version of the Commerce Business Daily will 

continue to be printed by a commercial printer and sold to small 

businesses and other subscribers. Finally, GPO will also provide 

all accounting services related to customer accounts for DoC·. 

One measure of the efficiency created by this all-iance--is--that 

customer charges per electronic solicitation will be reduced by 

72 percent! 

Fisca1 Year 1996 Resu1ts 

The public printing and documents chapters of Title 44, United 

States Code, require GPO to fulfill the printing needs of the 

Federal government and distribute government publications to the 

public. GPO activities are financed through a Revolving Fund, 

which is reimbursed by payments from client agencies, sales to 

the public, and transfers from the Congressional Printing and 

Binding Appropriation and the Salaries and Expenses Appropriation 

of the Superintendent of Documents. These annual appropriations 

reimburse GPO for costs incurred while performing congressional 

work and fulfilling statutory requirements associated with the 

distribution of government publications. Reimbursements from 

these appropriations to the Revolving Fund are recorded as 

revenues. GPO was adversely affected by the funding-related 

government-wide shutdowns in fiscal year 1996. As a result, GPO 

workload was severely reduced in almost all programs. 

GPO experienced a consolidated net loss of $16.9 million in 

fiscal year 1996, compared with a $3.0 million loss in fiscal 

year 1995. Revenues decreased by $34.1 million (4.0 percent) 

overall, while expenses decreased by only $20.2 million (2.4 

percent). 

Page 5 
A summary, in thousands, of revenues and net income or loss in 

each GPO major operation is shown below. 

Revolving Fln:J: 

Printing and binding 

operations: 

Purchased printingCentral 

Regional 

Slbtotal 

In-house printingCentral 

Regional 

Other 

Slbtotal 

Slbtotal of printing 

and binding 

operations 

lnfonmation dissemination: 

Sales of publications 

Agency distributions 

Stbtotal 

Appropriations: 

Salaries and expenses 

Congressional printing and 

binding 

Slbtotal 

Eliminations 

Slbtotat 

Total 

Summary of Resu1ts 

1996 1995 

Net Income Net Income 

Revenues or (Loss) Revenues or (loss) 

$358,851 

200,772 

191,459 

755,823 

70,470 

4,425 

113.744 

S5,184 

(5,0~) 

178 

745 

(7,663) 

------------

(8,908) 

(340) 

------------ (9,248) 

------------

($16,911) 

20_0,870 

------.:: ........ --- 2,128 

777,663 

------------

80,136 

5,252 

------------ 85,388 

------------

100,648 

(111,120) 

$852,579 

$5,376 

(3,715) 

(7,619) 

0•064> 

(8,_683) 

784 

(6,238) 

------------

3,249 

(36) 

------------ 3,213 

------------

============ ============= ============ 

Consolidated revenues decreased to $818.5 million in 1996 from 

$852.6 in 1995. The largest revenue decrease occurred in 

Printing and Binding Operations, which decreased by $21.9 

million. Sales Program revenue, which dropped $9.6 million, was 

adversely affected by the government-wide shutdowns. As a result 

of the fall off in revenue, GPO's loss increased to $16.9 million 

in fiscal year 1996 compared with $3.0 million in fiscal year 

1996. 

Printing and Binding Operations 

In fiscal year 1996, GPO Printing and Binding Operations 

Page 6 
contributed revenues of $751.1 million, compared with $775.5 

million in fiscal year 1995. Printing and Binding Operations 

generated 79.5 percent of total pre-elimination revenues of 

$944.5 million, compared with 80.5 percent last year. Revenues 

from commercially procured printing were $559.6 million, or 59.2 

percent of total pre-elimination revenues. 

Purchased Pr1nting Operations - Central and regional printing 

procurement operations reported revenues of $559.6 million in 

fiscal year 1996, compared with $574.7 million in 1995. Expenses for printing procurement activities were $559.4 million, compared 

with $573.0 million in the previous fiscal year. The procurement 

operations experienced a net~ gain of $178, 000,- ~compared~-with~ a 

net gain of nearly $1.7 million in fiscal year 1995. 

• Centra1- Revenues from~Central Office printing procurement 

activities were $358.9 million, compared with$355.6 million in 

fiscal year-1995. Expenses·~ for Central-Office printing 

procurement activities were $353.7 million, compared with $350.2 

million in the previous fiscal year. The net gain for Central 

Office printing procurement activities was $5.2 million, compared 

with a fiscal year 1995 net gain of $5.4 million. 

• Regiona1- Regional printing procurement revenues were $200.8 

million, compared with $219.1 million in' the previous year, while 

expenses decreased to $205.8 million from $222.8 million in 1995. 

The net loss in regional printing procurement increased to $5.0 

million in fiscal year 1996 from a $3.7 million net loss in 

fiscal year 1995. 

In-house Printing Operations - Central and regional in-house 

printing operations generated revenues of $191.5 million in 1996, 

compared with revenues of $200.9 million in 1995. This operation 

experienced a net loss of $8.6 million, compared with a net loss 

of $8.7 million in fiscal year 1995. 

• Centra1 - Central Plant Printing Operations incurred a loss of 

$6.6 million on revenues of $188.4 million in 1996, compared with 

a net loss of $7.6 million on revenues of $195.9 million in 

fiscal year 1995. 

• Regiona1 - GPO regional printing operations generated revenues 

of $3.1 million in fiscal year 1996, compared with revenues of 

$5.0 million in 1995; and a net loss of $2.0 million in fiscal 

year 1996, compared with a net loss of $1.1 million in 1995. 

In fiscal year 1996, as a result of continuing losses brought on 

by a steadily declining demand for printing in the field 

locations, the New York, San Francisco, and Chicago Regional 

Printing Offices were closed, and the Juneau Satellite Printing 

Office was scheduled to be closed early in fiscal year 1997. 

These actions will leave Denver as the lone city hosting a GPO 

Page 7 
regional plant. 

Other Operations - Other Operations consist of revenues and 

expenses related to the sale of retired assets, the pay parking 

program, the Commerce Business Daily billing and collecting 

program, and other transactions. Other Operations generated net 

income of $745,000 in fiscal year 1996, compared with net income 

of $784,000 in 1995. 

Information Dissemination 

Sales of Publications Program- GPO's Sales of Publications 

Program generated a net loss of $8.9 million in 1996, compared 

with fiscal year 1995 net income of $3.2 million .. Total revenues 

decreased to $70.5 million, compared with $80.1 million in fiscal 

year 1995, while expenses increased to $79.4 million from $76.9 

million. Revenues from the sale of electronic government 

information were $4.3 million in fiscal year 1996, compared with 

$3.9 million in fiscal year 1995. Bookstore revenues decreased 

to $13.2 million, compared with $15.2 million in fiscal year 

1995. The government-wide shutdowns contributed to the drop in 

program revenue. 

Agency Distribution Services - Under contract with customer 

agencies, GPO distributes publications to recipients designated 

by those agencies and charges for the cost of services performed. 

This program had revenues of $4.4 million and a loss of $340,000 

in fiscal year 1996, compared with revenues of $5.3 million with 

net loss of $36,000 in fiscal year 1995. The loss in fiscal year 

1996 was due to the correction of overbillings to GSA for 

postage. These overbillings had occurred over the prior two 

years. 

Appropriations 

Salaries and Expenses - The Salaries and Expenses Appropriation 

is used to fund the Statutory Distribution Program, the 

Depository Library Program, the Cataloging and Indexing Program, 

and the International Exchange Program. These programs are 

administered and performed by Superintendent of Documents 

employees. The amount of expended appropriation was $31.3 

million in fiscal year 1996, compared with $27.6 million in 

fiscal year 1995. 

Congressional Printing and Binding - Printing and binding 

expenses for work performed for Congress are reimbursed to the 

Printing and Binding Operations Revolving Pund upon billing. For 

fiscal year 1996, reimbursements from the appropriation were 

$82.4 million, compared with $73.1 million in fiscal year 1995. 

Eliminations 

Page 8 
Financial statement eliminations consist of transactions for 

printing and binding, publications, and other services provided 

by GPO to operations funded within GPO. Eliminations of intraoffice transactions increased to $125.9 million in fiscal year 

1996 from $111.1 million in fiscal year 1995. 

Fiscal Year 1997 Projections 

The consolidated operating loss of $3.0 million in fiscal year 

1995 increased to a $16.9 million underrecovery in fiscal year 

1996. Despite this increase in the operating loss, management is 

hopeful of returning GPO to breakeven operations soon. Unsettled 

external issues, however, create some uncertainty regarding GPO's 

ability to fully recover its costs. The Department of Justice 

(DoJ) rendered a decision in fiscal year 1996 that GPO's 

"control" over Executive Branch printing was unconstitutional, 

and granted executive agencies the authority to bypass GPO to 

purchase printing. The effect of this decision was subsequently 

mitigated by a letter, signed by Office of Management and Budget 

Director Leon Panetta, which requested that Executive Agencies 

continue to use GPO services until the DoJ decision is reviewed. 

GPO is hopeful that prudence will prevail and that the longstanding, but too often bypassed, regulation that requires 

government printing to be ordered through GPO is strengthened, 

not removed. 

GPO will continue to reduce the size of its workforce in fiscal 

year 1997. GPO will be at or below the Appropriation Committee's 

ceiling of 3,600 full-time equivalents at fiscal year end. An 

early-out retirement (without incentive) is being offered to 

employees. GPO has eliminated a $2 million a year loss by 

closing all but one regional printing plant. 

GPO will continue to improve operations and services. The 

Superintendent of Documents critically reviewed and downsized its 

inventory of publications during fiscal year 1996. As a result, 

inventory holding and handling expenses, as well as the surplus 

inventory cost, will be reduced in fiscal year 1997 and beyond. 

The Superintendent of Documents operation also expects to award a 

contract to acquire a fully integrated order processing system in 

fiscal year 1997. This system will vastly improve customer 

services by allowing more efficient and faster processing of 

orders, inquiries, and complaints. In all, 18 antiquated 

computer systems will be replaced by the new system. 

GPO ACCESS continues to be a popular source for electronic 

government information. This award-winning system became free to 

users on December 1, 1995, and now averages 3 million documents 

retrieved from 72 databases each month! In fiscal year 1997, GPO 

will increase GPO ACCESS' utility further by distributing 

additional agency publications in electronic format, including 

the remaining volumes of the Code of Federal Regulations and the 

Page 9 
Commerce Business Daily. 

Printing Procurement Operations will be reengineering its 

outdated backbone system for contracting. The new system will be 

PC-based and networked. It will provide many efficiencies 

throughout the procurement cycle, will enhance GPO's ability to 

conduct electronic commerce, and will improve communications with 

customer agencies and commercial printers. 

Page 10 
U.S. Government Printing Office 

$QN$Qiiilt>lli!ll II~ISM.SNlt$ DE Bli'UENOES AND EXPENSES ~=~; ihe F=i;~;i Ve~~~ E~ded sepie~t>e~ ao: 1996 ~ilc:l1995 

REVENUES 

Printing and binding 

Sales of publications 

Appropriations 

Reidlursements 

Total revenues 

EXPENSES 

Printing and reproduction 

Personnel coapensation and benefits 

SUpplies and .aterials 

Rents, CCJIIIIU'Iications, and utilities 

Publications sold 

Depreciation and a.ortization 

Other services 

SUrplus publications 

Travel and transportation 

Total expenses 

NET LOSS 

(Dollars in Thousands) 

1995 

1996 (Audited) 

Percent of Percent of 

Allllult Revenues Allllult Revenues 

$631,582 

70,470 

112,052 

-4,425 

818,529 

491,289 

207,376 

49,056 

35,180 

22,163 

8,208 

8,483 

8,710 

4,975 

835,440 

($16,911) 

77.2% 

8.6 

13.7 

{).5 

100.0 

60.0 

25.4 

6.0 

4.3 

2.7 

1.0 

1.0 

1.1 

0.6 

102.1 

$669,591 

80,136 

97,594 

5,25~ 

852,579 

513,297 

213,548 

53,101 

31,452 

18,803 

7,805 

4,n1 

5,945 

6,932 

(2.1)% ($3,025) 

78.6% 

9.4 

11.4 

0.6 

100.0 

60.2 

25.1 

6.2 

3.7 

2.2 

0.9 

0.6 

0.7 

0.8 

100.4 

(0.4)% 

=========== ========== ========== =========== 

The acconp~nying notes are an integral part of 

these consolidated statements. 

Page 11 
ASSETS 

aJRRENT ASSETS 

Fl.llds with U.S. Treasury (Note 20) 

Accounts receivable, net (Note 4) 

Inventories, net (Note 2E) 

Prepaid expenses 

Total current assets 

PROPERTY, PLANT, AND EQUIPMENT (Note 2F) 

Land and buildings 

Equipnent and building 

Total property, plant, and 

equipnent 

Less: AccUII.Ilated depreciation and 

amortization 

Net property, plant, and equipnent 

Total assets 

1996 

U.S.:GOVERNMENT PRINTING OFFICE 

lllllllilllll::::::llmii,§I::=:§I.§B§! of'September 30, 1996 and 1995 

1995 

(Audited) 

(Dollars in Thousands) 

LIABILITIES AND EQUITY OF THE U.S. 

$157,080 

156,256 

26,219 

347 

339,902 

18,633 

167,787 186,420 

(114,608) 

71,812 

$411,714 

$148,079 

170,117 

33,177 

265 

351,638 

18,633 

164,818 183,451 

(107,764) 

75,687 

$427,325 

CURRENT LIABILITIES 

Accounts payable and 

accrued expenses (Note 5> 

Deferred revenue (Note 6) 

Accrued annual leave (Note 2G) 

Total current liabilities 

OTHER LIABILITIES 

Allocated workers' 

liability (Note 2J) 

Total other liabilities Total liabilities 

COMMITMENTS AND CONTINGENCIES (Note 7) 

EQUITY OF THE U.S. GOVERNMENT 

Revolving (Note 8C) 

Appropriated Fl.llds (Note 9) 

Total equity of the U.S. government 

Total liabilities and equity 

of the U.S. government 

The accDq)811Ying notes are an integral part of these consolidated balance sheets. 

Page 12 
U.S. Government Printing Office 

GQNSQI..ID.A'FED STATEMENTS OF CASH FLOWS :;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;::::::::·::::::::::::::::::::::::;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:::::::::::::::::::::::::::::::::::;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:·: 

For the Fiscal Years Ended September 30, 1996 and 1995 

CASH FLOWS FROM OPERATING ACTIVITIES 

Net Loss 

(Dollars in Thousands) 

Adjustments to reconciLe net Loss to net cash used in 

operating activities: 

Depreciation and amortization 

Depreciation expense fl..nded fro. appropriated capital 

Gain on disposal of property, plant, and ecp..1ipment 

Changes in assets and Liabilities: 

(Increase) decrease in assetsAccounts receivable 

Inventories 

Prepaid expenses 

Increase (decrease) in liabilitiesAccounts payable and accrued expenses 

Deferred reveBJe 

Accrued arnal leave 

Allocated workers' COIIpllSBtion liability 

Total adjusments 

Net cash used in operating activities 

CASH FLOWS FROM INVESTING ACTIVITIES 

capital expenditures 

Proceeds from sale of property, plant, and ecp..1ipment 

Net cash used in investing activities 

CASH FLOWS FROM FINANCING ACTIVITIES 

Increase in unexpended appropriations 

Funds returned to U.S. Treasury - from Salaries and 

Expenses Appropriation 

Net cash provided by financing activities 

NET INCREASE (DECREASE) IN FUNDS YITH U.S. TREASURY 

FUNDS YITH U.S. TREASURY, beginning of year 

FUNDS YITH U.S. TREASURY, end of year 

1996 

($16,911) 

8,208 

(444) 

(86}. 

13,859 

6,958 

(82)_ 

938 

(1,173) 

(154) 

2,622 

13,735 

(4,445) 

167 

(4,278) 

333 

(789) 

(456) 

9,001 

148,079 

157,080 

The acconpmying notes are an integral part of 

these consolidated statements. 

1995 

(Audited) 

($3,025) 

7,805 

(119) 

2,047 

(4,991) 

{11o): 

(4,388) 

3,411 

371 

(3,010) 

1,112 

(1,913) 

(15,011) 

139 

(14,872) 

15,684 

15,684 

(1,101) 

149,180 

148,079 

Page 13 
U.S. Government Printing Office 

rtvlol 

.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·,·.·.·.·.·.·.·.·.·.·.· ll·llniiUIItlllolnotl=:mllmP:nls .. ·.····· 

As of September 30, 1996 

1. Organization: 

The U.S. Government Printing Office (GPO) was created by the 

Printing Act of 1860. The U.S. Congress enacted Title 44, a 

comprehensive codification of printing related laws, in 1968. 

This legislation provides to the Federal government an economic 

and efficient means for the production and proc~rement of 

congressional and Federal agency printing and binding and for the 

dissemination of information to the public. 

The Public .Printer, appointed by the President of. the-United 

States with the advice and consent of the U.S. Senate, oversees 

the operations of GPO. GPO discharges its responsibilities 

through the operation of a Revolving Fund and congressional 

appropriations. 

2. Significant Accounting Policies.: 

A. Basis of Accounting 

The accompanying consolidated financial statements are prepared 

on the accrual basis of accounting in accordance with generally 

accepted accounting principles. 

B. Basis of Consolidation 

The accompanying consolidated financial statements of GPO include 

the accounts of all funds under GPO control that have been 

established and are maintained to account for the resources of 

GPO. Also provided are supplemental schedules that present GPO's 

financial position, results of operations, and- cash flows by fund 

type and by program within each fund. GPO operations are 

financed through the operation of a Revolving Fund and a General 

Fund. 

Revolving Fund accounts are established by law to finance a 

continuing cycle of operations with receipts derived from 

operations. These accounts are used to finance two major GPO 

programs: Printing and Binding Operations and Sales of 

Publications Operations. 

Printing and Binding Operations accounts are used to record 

transactions related to printing and binding, and distribution 

services. Sales of Publications Operations accounts are used to 

record transactions related to the sales of publications and 

their distribution to the public. 

Page 14 
General Fund accounts are used to record financial transactions 

arising under annual congressional appropriations under two major 

programs: the Salaries and Expenses Appropriation and the 

Congressional Printing and Binding Appropriation. 

The Salaries and Expenses Appropriation account is used to record 

transactions for expenses incurred by the Superintendent of 

Documents for depository library distributions, international 

exchange distributions, other statutory distribution of 

publications, and for the cataloging and indexing of government 

publications. 

The Congressional Printing and Binding Appropriation account is 

used to record printing and binding performed for Congress and 

for printing and binding publications authorized by law to be 

distributed without charge to recipients. 

All significant intra-agency balances andtr.ansactions have been 

eliminated in consolidation. Revenue and expense eliminations 

for the years ended September 30, 1996 and 1995, consisted of the 

following services. 

Printing and reproduction 

Data processing 

Miscellaneous 

Total 

1996 

$122,212,000 

2,029,000 

1,692,000 

$125,933,000 

---------------- ----------------

1995 

(Audited} 

$105,816,000 

2,250,000 

3,054,000 

$111,120,000 

-------------- --------------

In addition to the above eliminations, there is an elimination 

within the In-house Printing Program of revenues and expenses for 

services and other internal transactions (e.g., internal-use 

forms, electronic repairs) provided to and by the In-house 

Printing Operations. The eliminations were $4,402,000 and 

$5,400,000 for the years ended September 30, 1996 and 1995, 

respectively. 

To the extent feasible, general and administrative expenses have 

been allocated among the various expense categories based on the 

estimated level of effort associated with each program. 

C. Revenue Recognition and Expended Appropriations 

In-house Printing and Binding - By law, GPO must be reimbursed by 

the party requesting its services for all printing and binding 

work. Consequently, all Revolving Fund revenues from in-house 

printing and binding work (work not comme-rcially procured) are 

Page 15 
recognized as the work is performed by GPO. 

Commercially Procured Printing and Binding - Revolving Fund 

revenues from commercially procured printing and binding are 

recognized on the date the contract requirements are fulfilled, 

which is generally the date of shipment by the commercial 

contractor to the requesting agency. 

Distributing and Selling Publications - Revolving Fund revenues 

from distributing and selling publications are recognized when 

the publications have been shipped or when the services have been 

performed. 

Appropriation Revenues - Appropriation revenues are recorded when 

the qualifying expenses are incurred. The amount of _ 

appropriations expended and the programs funded by appropriations 

are presented in Note 9A. Unexpended appropriations are recorded 

as a component of Equity of U.S. Government (see Note 9B). 

D. Funds with U.S. Treasury 

Funds with U.S. Treasury represent all unexpended balances for 

GPO's accounts with the Department of the Treasury. The amounts 

recorded by GPO at September. 30, 19~6 agree with the balances 

recorded by the Department of the Treasury in its Government Online Accounting Link System (GOALS) . A breakdown of items 

included in this balance as of September 30, 1996 and 1995, 

follows. 

Revolving fund 

Appropriations: 

1991 

1992 

1993 

1994 

1995 

1996 

Total appropriations 

On-hand and in-transit 

Total 

1996 

$89,132,000 

0 

0 

3,872,000 

12,808,000 

15,456,000 

35,028,000 

67,164,000 

784,000 

$157,080,000 

1995 

(Audited) 

$80,481,000 

1,820,000 

471,000 

4,261,000 

19,832,000 

39,165,000 

65,549,000 

2,049,000 

$148,079,000 

============================ 

Page 16 
For purposes of the statements of cash flows, cash includes all 

funds with the Department of the Treasury. 

As explained in Note 9, at the end of both 1996 and 1995, all 

appropriated funds were expended or obligated. Obligated and 

unobligated appropriation balances are cancelled after 5 years. 

In 1996 and 1995, no such cancellations were required for fiscal 

years 1991 and 1990, respectively. 

E. Inventories 

Inventories of publications held for sale are valued at the lower 

of cost, using the weighted average cost method, or market, and 

are shown net of an allowance for surplus publications. The 

allowance for surplus publications is established to estimate the 

value of potentially obsolete or excess publications held in 

inventory. 

Paper, materials, and supplies-inventory includes -the cost of 

production material (e.g., blank paper, ·spare parts, ink, and 

book cloth), as well as the cost of administrative-use supplies. 

This inventory is valued at the lower of cost, using the weighted 

moving average cost method, or market, net of an allowance for 

materials and supplies obsolescence. There is no provision for 

paper obsolescence due to the frequency of use. The components 

of inventories as of September 30, 1996 and 1995, are as follows. 

Publications for sale 

Allowance for surplus publications 

Publications for sale, net 

Paper 

Materials and supplies 

Allowance for obsolescence 

Paper, materials, and supplies, 

net 

Inventories, net 

F. Property, Plant, and Equipment 

1996 

1995 

{Audited} 

----------------------------

$12,771,000 

(4,263,000} 

8,508,000 

9,456,000 

10,134,000 

(1,879,000} 

17,711,000 

$15,231,000 

(4,511,000} 

10,720,000 

13,529,000 

10,336,000 

(1,408,000) 

22,457,000 

$33,177,000 

============================ 

Property and equipment purchases and additions are valued at 

Page 17 
cost. Printing equipment transferred to GPO from other Federal 

agencies is valued in accordance with Regulation Number 26, 

Government Printing and Binding Regulations, published by the 

Joint Committee on Printing (JCP) This valuation generally 

approximates historical cost. 

Major alterations and renovations are capitalized, while normal 

maintenance and repair costs are expensed as incurred. 

Depreciation and amortization of property and equipment is 

calculated on a straight-line basis over their estimated useful 

lives. The following table presents the ranges of depreciable 

and amortizable lives of GPO assets. 

Category 

Buildings and improvements 

Plant machinery and equipment 

Office machinery and equipment 

Computer hardware 

Computer software 

Furniture and fixtures 

Vehicles 

Estimated 

Useful Life 

42 to 50 years 

5 to 20 years 

5 years 

5 years 

3 years 

5 years 

3 to 6 years 

Leasehold improvements are amortized over the lesser of their 

useful lives or lease terms (see Note 7A) . 

Page 18 
Property, plant, and equipment as of September 30, 1996 and 1995, 

consisted of the following. 

Land 

Buildings 

Building iq>rovements 

Leasehold iq>rovements 

Plant machinery and equipment 

Office machinery and equi.-ent 

Caq>Uter software 

Furniture and fixtures 

Vehicles 

Capital iqH""ove.ents in process 

Software developEI"'t in process 

AccUJUlated 

Acquisition Depreciation 

Value & Amortization 

$9,977,000 $ 

8,656,000 8,656,000 

54,915,000 32,667,000 

1,298,000 962,000 

82,759,000 55,062,000 

15,088,000 11,681,000-

7Lzsa,000_ 3,818,000 

2,439,000 627,000 ~ 

1,581,000 1,135,000 

0 

2,449,000 

1996 

Net 

Book Value 

$9,977,000 

22,248,000 

336,000 

27,697,000 

3,407,000 

3,440,000 

'1~812,000 

446,000 

0 

2,449,000 

1995 

Net 

Book Value 

(Audited) 

$9,977,000 

23,926,000 

482,000 

29,307,000 

3,982,000 

2,541,000 

~ 

1,884,00() 

588,000 

4,000 

2,996,000 

-------------- --------------- ---------------- -------------- Total $186,420,000 $114~608.000 $71,812,000 $15,687,000 

G. Annual, Sick, and Other Types of Leave 

Annual leave is accrued as a liability as it is earned, and the 

liability is reduced as leave is taken. Each year the annual 

leave liability account is adjusted to reflect current pay rates. 

Sick leave and other types of non-vested leave are expensed as 

the leave is taken. Although there is no limit on the amount of 

sick leave that can be accumulated, no lump-sum payment is made 

for unused sick leave. 

H. Accounting for Interagency Activities 

Other Federal agencies make financial decisions and report 

certain financial matters on behalf of the entire Federal 

government, including matters in which individual agencies may be 

an indirect party-in-interest. This concept of having Federal 

agencies record or report only those financial matters for which 

they are directly responsible is consistent with the U.S. General 

Accounting Office's Policies and Procedures Manual for Guidance 

of Federal Agencies, Title 2, "Accounting," which requires 

financial matters to be identified with the agencies that have 

the budgetary authority and resources to manage them. 

Financial matters maintained or reported by other Federal 

Page 19 
agencies in which GPO is indirectly involved include employee 

benefit plans (see Note 3) and certain legal situations (see 

Note 7C) . 

I. Statements of Cash Flows 

The statements of cash flows identify cash receipts and payments 

and classify them into operating, investing, and financing 

activities. The disclosure of this information is intended to 

help assess the ability of GPO to generate funds from current 

operations, to identify financing acquired from outside sources, 

and to identify the major nonoperating (investing) uses of funds. 

For purposes of these statements, cash is considered to be Funds 

with U.S. Treasury, as defined in Note 2D. 

J. Allocated Workers' Compensation Liability 

The Federal Employees Compensation Act (FECA) provides income and 

medical cost protection to covered Federal civilian employees 

injured on the job, employees who have 'incurred a work-related 

occupational disease, and the beneficiaries of employees whose 

death is attributable to a job-related injury or occupational 

disease. The FECA program is administered by the U.S. Department 

of Labor (DOL), which initially pays valid claims and 

subsequently seeks reimbursement from the Federal agencies 

employing the claimants. 

In fiscal year 1993, DOL began providing the actuarially 

estimated liability for claims outstanding at the end of each 

fiscal year and allocated to GPO the DOL's estimate of GPO's 

portion of the actuarial liability. This liability includes the 

estimated future costs of death benefits, workers' compensation, 

and medical and miscellaneous costs for approved compensation 

cases. It does not include the estimated future costs for claims 

incurred but not approved at year-end. The allocated liability 

totaled approximately $27.5 million at September 30, 1996, and 

$24.9 million at September 30, 1995. 

The actuarially computed liability was discounted at September 

30, 1996, using a discount rate of 7.0 percent for fiscal year 

1997 and thereafter. At September 30, 1995, the liability was 

calculated, using a discount rate of 7.1 percent for fiscal year 

1996, 6.6 percent for fiscal year 1997, and 7.0 percent 

thereafter. 

K. Reclassification of Fiscal Year 1995 Balances 

Certain reclassifications have been made to fiscal year 1995 

balances to present them consistently with the fiscal year 1996 

financial statements. 

3. Employee Benefit Plans: 

Page 20 
GPO funds a portion of pension contributions for its employees 

under the Civil Service Retirement System and the Federal 

Employees Retirement System and also makes payroll deductions for 

employees for their pension contribution. GPO is not required to 

disclose the assets of either system nor the actuarial data with 

respect to accumulated plan benefits of the unfunded pension 

liability relative to its employees. This reporting is the 

direct responsibility of the Office of Personnel Management 

(OPM) . The cost of health care benefits for retired employees 

and the reporting of such amounts are also the direct 

responsibility of OPM. 

A. Civil Service Retirement System 

The majority of GPO's employees were covered by the Civil Service 

Retirement System (CSRS) during fiscal years 1996 and 1995. 

Total GPO matching contributions (7.5 percent for Congressional 

Record indexers, investigators, and law officers, and 7 percent 

for all other employees covered under this plan) to CSRS for all 

eligible employees were approximately $8.7 million and $9.3 

million for the years ended September 30, 1996 and 1995, 

respectively. 

B. Federal Employees Retirement System 

On January 1, 1987, the Federal Employees Retirement System 

(FERS) , a defined contribution plan, commenced pursuant to Public 

Law 99-335. Employees hired after December 31, 1983, were 

automatically covered by FERS and Social Security, while 

employees hired prior to January 1, 1984, were able to choose 

between joining this plan or remaining in CSRS. Unlike CSRS, 

FERS offers the Federal Government's Thrift Savings Plan (TSP), 

which requires GPO to contribute 1 percent of an enrolled 

employee's base pay, and additionally to match voluntary employee 

contributions up to 4 percent of base pay. 

For the years ended September 30, 1996 and 1995, total GPO 

(employer) contributions to FERS (16.9 percent for Congressional 

Record indexers, 24.3 percent for investigators and law officers, 

and 11.4 percent for all other employees covered under this plan) 

were $4.5 million and $4.4 million, respectively. Additional 

contributions of GPO's share to the TSP for the years ended 

September 30, 1996 and 1995, were $1.5 million and $1.4 million, 

respectively. 

C. Social Security System 

GPO also makes matching contributions to the Social Security 

Administration (SSA) under the Federal Insurance Contributions 

Act (FICA). For employees covered by FERS, GPO contributes 

matching amounts of 6.2 percent of gross pay (up to $62,700) to 

SSA's Old-Age, Survivors, and Disability Insurance (OASDI) 

Page 21 
Program. Additionally, GPO makes matching contributions for all 

employees of 1.45 percent of gross pay to SSA's Medicare Hospital 

Insurance Program. Payments to these programs for the years 

ended September 30, 1996 and 1995, amounted to $5.2 million and 

$5.4 million, respectively. 

4. Accounts Receivable: 

Accounts receivable as of September 30, 1996 and 1995, consists 

of the following. 

Federal Agencies: 

Unbilled completed work 

Unbilled work in process 

Billed completed work 

Subtotal 

Other receivables: 

The public 

GPO employees 

Subtotal 

Total accounts receivable 

Allowance for doubtful accounts 

Total accounts receivable, net 

1996 

$1(}0,222,00-Q 

12,625,000 

42,674,000 

15 5 1 5 21 1 0 0 0· 

1,526,000 

1,057,000 

2,583,000 

158,104,000 

{1,848,000) 

$156,256,000 

1995 

{Audited) 

$118,917,000 

11,511,000 

39,451,000· 

169,879,000 

2,009,000 

1,116,000 

3,125,000 

173,004,000 

{2 18871 000) 

$170,117,000 

============================ 

The majority of GPO's accounts receivable are due from other 

Federal agencies. Unbilled completed work results from the 

delivery of goods or the performance of services for which bills 

have not yet been rendered. Included in this balance as of 

September 30, 1996, is unbilled commercial printing of $54.1 

million, unbilled direct mill-to-customer agency paper shipments 

of approximately $1.0 million, finished work in the process of 

being billed of $34.0 million, and finished work for which 

invoices have not been prepared as of September 30, 1996, valued 

at $11.0 million. 

Unbilled work in process represents the amount owed on work 

performed on customer orders as of September 30, 1996 and 1995, 

that by law must be reimbursed by GPO customers. 

Employees accounts receivable for fiscal year 1996 includes 

$997,000 and $60,000 owed by current employees and former 

Page 22 
employees, respectively, who were advanced both annual and sick 

leave. Both types of leave for current employees will be repaid 

by these employees in biweekly installments or by other GPO 

employees on their behalf through the donated leave program. 

5. Accounts Payable and Accrued Expenses: 

Accounts payable and accrued expenses are composed of the 

following as of September 30, 1996 and 1995. 

Accounts payable: 

Commercial printing 

U.S. Government agencies 

Other 

Total accounts payable 

Accrued salaries and wages 

State and local payroll taxes 

Total accounts payable 

and 

accrued expenses 

6. Deferred Revenue: 

1996 

$48,294,000 

15,868,000 

6,583,000 

70,745,000 

8,727,000 

802,000 

$80,274,000 

1995 

(Audited) 

$52,268,000 

10,671,-000 

7,518,000 

70,457,000 

8,036,000 

843,000 

$79,336,000 

============================ 

As of September 30, 1996 and 1995, deferred revenue consisted of 

the following. 

Deferred subscription revenue 

Customer deposits--held on accounts 

Customer deposits--unfilled orders 

Advanced billings to Federal 

agencies 

Total 

1996 

$18,101,000 

7,725,000 

2,813,000 

8,655,000 

$37,294,000 

1995 

(Audited) 

$21,560,000 

8,389,000 

2,210,000 

6,308,000 

$38,467,000 

----------------------------

-----------------------~----

Deferred revenue results from the receipt of customer remittances 

for products or services that will be delivered or provided in 

the future. Deferred subscription revenues for products such as 

Page 23 
the Congressional Record, the Federal Register, and the Commerce 

Business Daily are recognized as revenue at the time the products 

are delivered. Customer deposits for publication orders are 

recognized as revenue as customer orders are filled. At the time 

a customer cancels a subscription or closes a deposit account, 

the customer's unused account balance is refunded. 

7. Commitments and Contingencies: 

A. Operating Leases 

As of September 30, 1996, GPO was committed to various 

noncancelable operating leases primarily covering warehouse, 

office, and retail space. Some of these leases contain 

escalation clauses and renewal options. A schedule of future 

minimum rental payments required under operating leases bycype, 

which have initial or remaining noncancelable lease terms in 

excess of one year followa. Rent expenses for the years ended 

September 30, 1996 and 1995, were $6,550,000 and $6,606,000, 

respectively. 

Fiscal Year Warehouse Office Retail Total 

1997 

1998 

1999 

2000 

2001 

2002 and beyond 

$ 2,260,000 

2,260,000 

2,203,000 

1,576,000 

214,000 

Total minimum lease 

payments $ 8,513,000 

$182,000 

110,000 

104,000 

81,000 

$477,000 

$ 412,000 

252,000 

181,000 

70,000 

38,000 

2,000 

$ 955,000 

$ 2,854,000 

2,622,000 

2,488,000 

1,727,000 

252,000 

2,000 

$ 9,945,000 

=========== ========== ========== ============ 

B. Commitments 

GPO is committed, by contract, for goods and services that have 

been ordered but have not been delivered at fiscal year-end. 

Total undelivered orders for all GPO activities were 

approximately $108.6 million and $130.0 million as of 

September 30, 1996 and 1995, respectively. 

C. Contingencies 

GPO is a party to various administrative proceedings, legal 

actions, and claims brought by or against it. In the opinion of 

GPO management and legal counsel, the ultimate resolution of 

these proceedings, actions, and claims will not materially affect 

the financial position or results of operations of GPO. 

Page 24 
Occasionally, GPO may be the named party, but another agency may 

administer and litigate the case. Amounts to be paid under any 

decision, settlement, or award pertaining thereto may be funded 

by those agencies. In most cases, tort claims are administered 

and resolved by the U.S. Department of Justice, and any amounts 

necessary for resolution are obtained from a Special Judgment 

Fund maintained by the Department of the Treasury. Amounts paid 

from this fund on behalf of the GPO were $80,000 and $84,000 for 

the years ended September 30, 1996 and 1995, respectively, and 

are not reflected in the GPO's consolidated financial statements. 

8. Revolving Fund: 

A. Cumulative Results of Operations 

Cumulative results of operations for the Revolving Fund include 

net operating results since its inception, reduced by funds 

returned to the Department of the Treasury by legislative 

rescissions, and by transfers to other Federal agencies. 

B. Invested Capital 

Invested Capital represents Federal government resources directly 

appropriated to GPO by Congress to invest in GPO assets -

primarily land, buildings, equipment, and working capital. The 

Revolving Fund was established in 1953 with appropriated funds of 

$33.8 million, and buildings and land with a fair market value of 

$415,000. Subsequently, Congress has provided additional funding 

to GPO for working capital ($58 million since 1953) and land and 

other improvements ($17.5 million since 1971). 

Increases to Invested Capital are also recorded when printing 

equipment is donated to GPO. Invested Capital is reduced over 

the useful life of the donated asset or when retired. The net 

book value of assets donated to GPO from other agencies was 

$349,000 and $381,000 in fiscal years 1996 and 1995, 

respectively. 

GPO received $12,900,000 of Revolving Fund appropriations during 

the 1970's for an air-conditioning system. This appropriation 

amount was recorded in Invested Capital in the Equity section. 

In 1994, a reclassification was made to transfer the cumulative 

depreciation expenses associated with the air-conditioning system 

from invested capital to cumulative results of operations. Since 

1994, Invested Capital has been reduced annually by $440,000 to 

reflect the air-conditioning system's depreciation. 

C. Summary of Revolving Fund Activity 

Below is a summary of activity for the Revolving Fund portion of 

Equity of U.S. Government in fiscal years 1996 and 1995. See 

Note 9 for Appropriated Funds summary. 

Page 25 
Revolving FU'ld balance, Septeaber 30, 1994 

Donated ~ipment. net (see Note 88) 

Net Loss for fiscal year 1995 

Revolving FU'ld balance, Septeaber 30, 1995 

Donated ~ipment. net (see Note 88) 

Reclassification to transfer depreciation 

expense for air-conditioning system 

Net Loss for fiscal year 1996 

Revolving FU'ld balance. Septeaber 30, 1996 

Cum.~Lative 

Results of Invested 

Operations Capital 

S111,037,000 

108,012,000 

(16,911,000) 

S91,101,000 

S101,049,000 

159.000 

101,208,000 

(33,000) 

(444,000) 

S100,731,000 

Total 

Revolving 

FU'ld 

S212,086,000 

159.000 

(3,025,000) 

209,220,000 

(33,000) 

(444,000) 

(16,911,000) 

S191,832,000 

=========--====== =--====----======== ============== 

9. Appropriated Funds: 

A. Expended Appropriations 

Total appropriations initially made available for fiscal years 

1996 and 1995 were $83,770,000 and $89,724,000 for Congressional 

Printing and Binding, and $30,307,000 and $32,207,000 for 

Salaries and Expenses of the Superintendent of Documents, 

respectively. In fiscal year 1995, Public Law 104-19 rescinded 

portions of GPO's 1995 appropriations as part of the emergency 

supplemental appropriations act that was enacted to fund antiterrorist initiatives. The 1995 Congressional Printing and 

Binding Appropriation was reduced by $5 million, and the 1995 

Salaries and Expenses Appropriation was reduced by $600,000 as a 

result of these rescissions. 

Expended appropriations for program operations for the years 

ended September 30, 1996 and 1995, were as follows. 

Congressional printing and binding: 

Congressional Record products 

Miscellaneous publications and 

printing and binding 

Hearings 

Bills, resolutions, and amendments 

Details to Congress 

Other 

Total congressional 

printing and 

binding 

Salaries and expenses: 

1996 

$26,817,000 

18,458,000 

11,178,000 

11,279,000 

3,107,000 

11,567,000 

82,406,000 

1995 

(Audited) 

$20,657,000 

18,493,000 

12,166,000 

9,164,000 

2,557,000 

10,029,000 

73,066,000 

Page 26 
Depository library distribution 

Cataloging and indexing 

By-law distribution 

International exchange 

Total salaries and 

expenses 

Total expended 

appropriations 

Reconciliation of expended 

appropriations to 

the consolidated statements of 

revenues and 

expenses: 

Total expended appropriations 

Eliminations (Intra-agency) 

Consolidated revenues from 

27,119,000 

3,186,000 

505,000 

528,000 

31,338,000 

$113,744,000 

23,119,000 

3,306,000 

478,000 

679,000 

27,582,000 

$100,648,000 

============================ 

$113,744,000 

(1,692,000) 

$100,648,000 

(3,054,000) 

appropriations $112,052,000 $97,594,000 

============================ 

See Note 11 for 1997 GPO funding appropriations. 

B. Unexpended Appropriations 

As of September 30, 1996, GPO had unexpended appropriations that 

were obligated for Salaries and Expenses and Congressional 

Printing and Binding services of $20,734,000 and $42,973,000, 

respectively, as shown in the accompanying supplemental Schedule 

of Appropriated Funds. In fiscal year 1995, these amounts were 

$22,553,000 and $41,610,000, respectively. 

10. Related-Party Transactions: 

The Refectory Cafe, Ltd. (RCL), a non-profit corporation 

chartered in the District of Columbia in 1985, operated the GPO 

Cafeteria (Cafeteria) until the RCL ceased operations on 

November 18, 1994. The members of the Board of Directors of the 

RCL were appointed by the former Public Printer and include the 

current Public Printer, the Deputy Public Printer, and one 

senior-level GPO manager. Employee food service is currently 

provided and managed by an independent contractor. 

From its incorporation in 1985 through November 18, 1994, the 

Cafeteria sustained a cumulative loss of approximately $600,000, 

primarily as a result of a steady decline in customers. In 

fiscal year 1995, GPO paid approximately $100,000 to satisfy the 

RCL's creditors, as the Cafeteria was unable to meet these 

Page 27 
obligations. The RCL's bank account, with a balance of $14,900 

at September 30, 1996, will be used to resolve future claims 

against the Cafeteria that might arise, including amounts needed 

to terminate the RCL's employee pension plan (Plan) as of 

November 1, 1995. Any remaining funds in the RCL account after 

all claims are satisfied will be deposited in the GPO Revolving 

Fund to offset GPO's expenditures. 

The latest actuarial report prepared by the Massachusetts Mutual 

Life Insurance Company, the Plan trustee, states that the RCL 

Plan was fully funded. Any Plan assets remaining after 

liquidation will be deposited in the GPO Revolving Fund to offset 

GPO's expenditures. 

11. Subsequent Events: 

Public Law 104-197 approved on September 16, 1996, provides 

$110,746,000 in Federal funds to GPO for fiscal year 1997. Of 

these funds, $81,669,000 is to be used for the authorized 

printing and binding of the U.S. Congress and for the 

distribution of congressional information in any format, and 

$29,077,000 is to be used for expenses of the activities of the 

Office of the Superintendent of Documents necessary to provide 

for the cataloging and indexing of government publications and 

their distribution to the public, members of Congress, other 

government agencies, and designated depository and international 

exchange libraries as authorized by law. 

Management believes that GPO will be able to meet its operating 

requirements with the approved Federal funding and cash flows 

from operations. However, management's operating plans are 

dependent upon the volume and type of printing and binding 

services requested by Congress and other Federal agencies and 

management's control of operating costs. There can be no 

assurance that the approved Federal funding and cash flows from 

operations will be sufficient to meet GPO's operating 

requirements. 

Page 28 
ASSETS 

OJRRENT ASSETS 

with U.S. Treasury 

Accounts receivable, net: 

From other Federal agencies From the pblic From GPO enployees 

Inventories: 

Publications for sale, net 

Paper 

Materials and supplies, net 

Prepaid expenses 

Total current assets 

PROPERTY, PLANT, AND EQUIPMENT 

Land and buildings 

Building iq>rovements 

Leasehold iq>rovements 

Plant machinery and equij:JIIent 

Office machinery and equij:JIIent 

software 

Furniture and fixtures 

Vehicles 

Capital iq>rovements in process 

Software development in process 

Less: depreciation and 

amortization 

U.S. GOVERNMENT PRINTING OFFICE 

As of September 30, 1996 

(Dollars in Thousands) 

Revolving General 

Printing Sales of Salaries and Total 

and Binding Publications Expenses Before Eli minOperations Operations Appropriation 

Congressional 

Printing 

and Binding 

Appropriation El i11inations at ions Cons

$57,534 $32,381 $23,907 $43,258 $157,080 s - $15

164,496 2,057 341 0 166,894 (12,108) 15

236 216 - - 452 - 

1,018 - - - 1,018 - 

- 8,507 - - 8,507 - 

9,457 - - - 9,457 - 

8,255 - - - 8,255 - 

347 - - - 347 - 

----------- -----------

---------- ---------- -----------

----------- -----

241,343 43,161 24,248 43,258 352,010 (12, 108) 33

----------- -----------

----------

---------- ----------- ----------- -----

18,633 - - - 18,633 - 1

54,915 - - - 54,915 - 5

1,298 - - - 1,298 - 

82,758 - - - 82,758 - 8

15,088 - - - 15,088 - 1

7,258 - - - 7,258 - 

2,439 - - - 2,439 - 

1,582 - - - 1,582 - 

0 - - - 0 - 

2,449 - - - 2,449 - 

(114,608) - - - (114,608) - (11

----------- -----------

---------- ---------- ----------- ----------- -----

Net property, plant, and equij:JIIent 71,812 - - - 71,812 - 7

----------- -----------

---------- ---------- ----------- ----------- -----

Total assets $313,155 $43,161 $24,248 $43,258 $423,822 ($12, 108) $41

========= ========= -- - - - ==== =========== =====

The accoopanying notes are an integral part of this schedule. 

Page 29 
LIABILITIES AND EQUITY 

OF THE U.S. GOVERNMENT 

CURRENT LIABILITIES 

Accounts payable and 

accrued expenses 

Deferred revenue 

Accrued annual leave 

Total current liabilities 

OTHER LIABILITIES 

U.S. GOVERNMENT PRINTING OFFICE 

As of September 30, 1996 

(Dollars in Thousands) 

Revolving Fund General Fund 

Congressional 

Printing Sales of salaries and Printing Total 

and Binding Publications Expenses and Binding Before El iminOperations Operations Appropriation Appropriation Eliminations ations Co

$81,296 $7,287 S3,514 S285 $92,382 ($12,108) $8

8,644 28,650 37,294 - 3

11,070 11,070 - 1

----------- ----------- ---------- ---------- ----------- ----------- -----

101,010 35,937 3,514 285 140,746 (12,108) 12

----------- ----------- ---------- ---------- ----------- ----------- -----

Allocated workers' compensation liability 27,537 27,537 - 2

Total other liabilities 

Total liabilities 

Conmitments and contingencies (Note 7) 

EQUITY OF THE U.S. GOVERNMENT 

Revolving fund 

Appropriated funds 

Total equity of the 

u.s. government 

Total liabilities and 

equity of the U.S. 

government 

----------- -----------

27,537 27,537 -

-----------

-----------

128,547 35,937 3,514 285 168,283 (12,108) 

----------- -----------

184,608 7,224 - - 191,832 -

20,734 42,973 63,707 -

----------- -----------

---------- ---------- ----------- -----------

184,608 7,224 20,734 42,973 255,539 -

----------- -----------

---------- ---------- -----------

-----------

$313,155 $43,161 $24,248 S43,258 $423,822 ($12,108) 

========== ==== - - ==== 

The notes are an integral part of this schedule. 

Page 30 

-----

2

-----

15

-----

19

6

-----

25

-----

$41

==--==
U.S. GOVERNMENT PRINTING OFFICE 

~~Hft~§I§Nilll~ 

IIHIRI~§:::::IIliftiiiMIII!1M~Mii1!1iiiiiN!III·:::::II::·:EINI:OOI

For the Year Ended September 30, 1996 

(Dollars in Thousands) 

General Flni 

Revolving Flni -----------------------------

-------------------------- Congressional 

Printing Sales of Salaries and Printing 

and Binding Plblications Expenses and Binding Total Before 

Operations Operations Appf"opri ati on Appf"opri at ion Eliminations Elimi

---------- ----------

------------- ----,..-------- ------------ -----

REVENUES 

Printing and Binding $755,823 s - s - s - $755,823 ($124

Sales of Publications - 70,470 - - 70,470 

Appropriations - - 31,338 82,406 113,744 (1

Reinilursements - 4,425 - - 4,425 

----------

---------- ---------- ---------- ---------- -----

Total Revenues 755,823 74,895 31,338 82,406 944,462 (125

----------

---------- ---------- ---------- ---------- -----

EXPENSES 

Printing and reproduction 513,452 562 17,081 82,406 613,501 (122

Personnel compensation and benefits 170,554 31,045 7,405 - 209,004 (1

Supplies and materials 46,740 1,911 491 - 49,142 

Rents, cOIIIIU'Iications, and utilities 18,222 15,737 1,482 - 35,441 

Publications sold - 22,163 - - 22,163 

Depreciation and amortization 6,063 932 1,213 - 8,208 

Other services 5,962 1,332 2,935 - 10,229 (1

Surplus publications - 8,710 - - 8,710 

Travel and transportation 2,493 1,751 731 - 4,975 

---------- ---------- ---------- ---------- ---------- -----

Total Expenses 763,486 84,143 31,338 82,406 961,373 (125

---------- ---------- ---------- ----------

_____ ... ____ 

-----

NET (LOSS) INCOME ($7,663) ($9,248) so so ($16,911) s 

========== ======= -- ==== =====

The accarpanying notes are an integral part of this schedule_ 

Page 31 
I!II~~~~~~~'~~'JIJ'I[~lltll''lll•ll:.:l!l'l:::=mlll 

(Dollars in Thousands) 

Revolving FU'ld General FU'ld 

--------------------------- --------------------------

Congressional 

Printing Sales of Salaries and Printing Total 

and Binding Plbl ications Expenses and Binding Before El im

Operations Operations Appl"opriation Appl"opriation Eliminations at io

-------------

------------- ----------- -------------- ------------ ------

CASH FLOWS FROM OPERATING ACTIVITIES 

Net (loss) income ($7,663) ($9,248) s - s - ($16,911) s 

------------

------------ ---------- ---------- ------------ ------

Adjustments to net (loss) income: 

Depreciation and amortization 8,208 - - - 8,208 

Depreciation expense fU'lded from 

appropriated capital (444) - - - (444) 

Gain on disposal of property, plant, 

and equi pnent (86) - - - (86) 

Changes in assets and liabilities: 

(Increase) decrease in assetsAccounts receivable 10,889 544 (221) 58 11,270 

Inventories 4,745 2,213 - - 6,958 

Prepaid expenses (82) - - - (82) 

Increase (decrease) in liabilitiesAccounts payable and accrued expenses 1,482 (188) 2,006 227 3,527 (

Deferred revenue 2,346 (3,519) - - (1,173) 

Accrued annual leave (154) - - - (154) 

Allocated workers' compensation liability 2,622 - - - 2,622 

------------

__ ... _________ 

---------- ---------- ------------ ------

Total adjustments 29,526 (950) 1,785 285 30,646 

------------ ------------ ---------- ---------- ------------ ------

Net cash (used in) provided by 

operating activities 21,863 (10, 198) 1,785 285 13,735 

------------

------------ ---------- ---------- ------------ ------

CASH FLOWS FROM INVESTING ACTIVITIES 

Capital expenditures (4,445) - - - (4,445) 

Proceeds from sale of property, plant, 

and equi pnent 167 - - - 167 

------------ ------------ ---------- ---------- ------------ ------

Net cash used in investing activities (4,278) - - - (4,278) 

------------

------------ ---------- ---------- ------------ ------

CASH FLOWS FROM FINANCING ACTIVITIES 

Increase in tnexpended appropriations - - (1,031) 1,364 333 

FU'lds returned to u.s. Treasury - from 

Salaries and Expenses Appropriation - - (789) - (789) 

------------ ------------

---------- ---------- ------------ ------

Net cash provided by 

financing activities - 0 (1,820) 1,364 (456) 

------------

------------ ---------- ---------- ------------ ------

NET INCREASE (DECREASE) IN FUNDS 

WITH U.S. TREASURY 17,585 (10, 198) (35) 1,649 9,001 

FUNDS WITH U.S. TREASURY, beginning of year 39,950 42,580 23,939 41,610 148,079 

------------ ------------ ---------- ---------- ------------ ------

FUNDS WITH U.S. TREASURY, end of year $57,535 $32,382 $23,904 $43,259 $157,080 s 

======== =--= ==== ======

The accoqJ&nying notes are an integral part of this scheci.lle. 

Page 32 
U.S. GOVERNMENT PRINTING OFFICE 

For the Year Ended September 30, 1996 and 1995 

APPROPRIATIONS, begiming of year (on cash basis) 

FUNDS PROVIDED- Appropriations 

Total fU'lds available 

FUNDS APPLIED 

Obligated appropriations: 

Current year 

Prior years 

FU'lds returned to U.S. Treasury 

Total fU'lds applied 

APPROPRIATIONS, end of year (on cash basis) ADJUSTMENTS 

Intra-agency accounts receivable Intra-agency accounts payable 

APPROPRIATIONS, end of year (on accrual basis) 

(Dollars in Thousands) 

Salaries 

and 

Expenses 

Appropriation 

s 23,939 

30,307 

54,246 

18,501 11,049 

789 

----------

30,339 

----------

23,907 

341 

(3,514) 

----------

s 20,734 

========= 

Congressional 

Printing and 

Binding 

Appropriation 

s 41,610 

83,770 

125,380 ' 

60,548 

21,574 

-

---------

82,122 

---------

43,258 

0 

(285) 

---------

s 42,973 

--- --

1996 

s 65,549 

114,077 179,626 

79,049 

32,623 

789 

---------

112,461 

---------

67,165 

341 

(3,799) 

---------

s 63,707 

== 

Total 

General FU'ld 

1995 

(Audited) 

s 50,529 

116,331 166,860 

77,166 

24,145 

101,311 

65,549 

179 

(1,565) 

s 64,163 

The accoqlBnying notes are an integral part of this schedule. 

Page 33 
ASSETS 

------

CURRENT ASSETS 

Funds with U.S. Treasury 

Accounts receivable 

Inventories 

Prepaid expenses 

Total current assets 

PROPERTY, PLANT, AND EQUIPMENT 

Land and buildings Building iq>rovements 

Leasehold iq>rovements 

Plant machinery and equipment 

Office machinery and equipment Computer software 

Furniture and fixtures 

Vehicles 

Capital iq>rovements in process Software development in process 

Less: Accumulated depreciation and amortization 

Net Property, plant, and Equipment 

Total assets 

U.S. GOVERNMENT PRINTING OFFICE 

IQRI~§MIROOII:,:::e:EttGI::::IH!§sw§:::::II:B:::::I&IIIIII:§INI 

As of September 30, 1996 and 1995 

(Dollars in Thousands) 

Printing and Binding Sales of Publications Total Revolving Fln:J Operations Operations 1996 

------------------------ ---------------------- -------------------------------------

1995 1995 Before El i11in1996 (Audited) 1996 (Audited) Eliminations at ions Consolidated 

------------ ------------ ---------- ---------- ------------- ------- -------------

$57,534 $39,950 $32,381 $42,580 $89,915 $ - $89,915 165,750 176,642 2,273 2,815 168,023 (12, 108) 155,915 17,712 22,456 8,507 10,721 26,219 - 26,219 347 265 - - 347 - 347 

----------- ----------- ---------- ---------- --.J-------- ----------- ----------- 241,343 239,313 43,161 56,116 284,504 (12,108) 272,396 

----------- ----------- ---------- ---------- ---·-------- ----------- -----------

18,633 18,633 0 - 18,633 - 18,633 54,915 54,911 - - 54,915 - 54,915 1,298 1,768 - - 1,298 - 1,298 82,758 81,563 - - 82,758 - 82,758 15,088 14,633 - - 15,088 - 15,088 7,258 5,126 - - 7,258 - 7,258 2,439 2,278 - - 2,439 - 2,439 1,582 1,539 - - 1,582 - 1,582 0 4 - - 0 - 0 

2,449 2,996 - - 2,449 - 2,449 

- -

-

(114,608) (107,764) - - (114,608) - (114,608) 

----------- ----------- ----------

---------- ----------- ----------- -----------

71,812 75,687 - - 71,812 - 71 ,.fl12 

----------- -----------

---------- ---------- ----------- ----------- -----------

$313,155 $315,000 $43,161 $56,116 $356,316 ($12,108) S344,2bs 

========== ======= === ==== ==== ========== ======== 

The acc~ing notes are an integral part of this schedule. 

Page 34 
LIABILITIES AND EQUITY 

OF THE U.S. GOVERNMENT 

CURRENT LIABILITIES 

Accounts payable and 

accrued expenses 

Deferred revenue 

Accrued annual leave 

Total current liabilities 

OTHER LIABILITIES 

Estimated workers' c~ation liability 

Total other liabilities 

Total liabilities 

EQUITY OF THE U.S. GOVERNMENT 

Revolving fund 

Appropriated fl.nds 

Total equity of the 

U.S. Governnent 

Total liabilities and 

equity of the u.s. 

governnent 

U.S. GOVERNMENT PRINTING OFFICE 

IYII~IIIIIIIt,!lllll81i::::IH!§swi::::::EII:::,R§illl~l~:~g~g 

As of September 30, 1996 and 1995 

(Dollars in Thousands) 

Printing and Binding Sales of Publications Total Revolving Fl.nd 

Operations Operations 1996 

1996 

S81,296 

8,644 

11,070 

101,010 

27,537 

27,537 

128,547 

184,608 

184,608 

$313,155 

1995 

(Audited) 

$79,815 

6,298 

11,225 

97,338 

24,914 

24,914 

122,252 

192,748 

192,748 

$315,000 

1996 

$7,287 

28,650 

35,937 

35,937 

7,224 

7,224 

$43,161 

1995 Before El imin- 

(Audited) Eliminations ations Consolidated E

$7,475 

32,169 

39,644 

39,644 

16,472 

16,472 

$56,116 

$88,583 

37,294 

11,070 

136,947 

27,537 

27,537 

164,484 

191,832 

191,832 

$356,316 

($12,108) 

(12, 108) 

(12,108) 

($12,108) 

$76,475 

37,294 

11,070 

124,839 

27,537 

27,537 

152,376 

191,832 

191,832 

$344,208 

=========== ====----===== ========== ========== =========== =========== =========== =

The acc~nying notes are an integral part of this schedule. 

Page 35 
REVENUES: 

Printing and binding Sales of blank paper 

Sales of waste and scrap 

Sales of publications 

Appropriations 

Reintlursements 

Total revenues 

EXPENSES: 

Printing and reprod.lction 

Personnel CoqJenSation and 

benefits 

Supplies and materials 

Rents, communications, and 

utilities 

Publications sold 

U.S. GOVERNMENT PRINTING OFFICE 

IYIR~IIIIil~t:::§l!lllli~l:i:i!IB!']Jii:§I!YII!i!i!llill!i!~:lll§li§§l·:·=::llilii·!·:lcl!l·s:-R

FOR THE YEARS ENDED SEPTEMBER 30, 1996 (Unaudited) AND 1995 (Audited) 

Printing and Binding 

Operations 

1996 1995 

Information 

Dissemination 

Operations 

1996 1995 

(Dollars in Thousand) 

Congressional 

Printing 

and Binding Other Operations 

1996 1995 1996 1995 

Total GPO 

Before Eliminations 

1996 1995 

E

1996 

--------- --------- --------- --------- --------- --------- --------- --------- --------- ----------- -----

$733,700 $754,464 s s s s $4,741 $2,128 $738,441 $756,592 ($124,2

16,605 19,646 - - - - - - 16,605 19,646 

777 1,425 - - - - - - 777 1,425 

- - 70,470 80,136 - - - - 70,470 80,136 

- - 31,338 27,582 82,406 73,066 - - 113,744 100,648 (1,6

- - 4,425 5,252 - - - - 4,425 5,252 

--------- --------- --------- --------- --------- --------- --------- --------- --------- --------- -------

751,082 775,535 106,233 112,970 82,406 73,066 4,741 2,128 944,462 963,699 (125,9

--------- --------- --------- --------- --------- --------- --------- --------- --------- --------- -------

513,452 532,100 17,643 13,947 82,406 73,066 - - 613,501 619,113 (122,2

170,062 176,114 38,450 38,709 - - 492 543 209,004 215,366 (1,6

46,709 51,269 2,402 1,899 - - 31 25 49,142 53,193 (

17,512 10,440 17,219 20,534 - - 710 755 35,441 31,729 (2

- - 22,163 18,803 - - - - 22,163 18,803 

Depreciation and amortization 5,449 5,672 2,145 2,130 - - 614 3 8,208 7,805 

Other services 3,813 3,916 4,267 3,904 - - 2,149 18 10,229 7,838 (1,7

surplus publications - - 8,710 5,945 - - - - 8,710 5,945 

Travel and transportation 2,493 3,046 2,482 3,886 - - - - 4,975 6,932 

--------- --------- --------- --------- --------- --------- --------- --------- --------- --------- -------

Total expenses 759,490 782,557 115,481 109,757 82,406 73,066 3,996 1,344 961,373 966,724 (125,9

--------- --------- --------- --------- --------- --------- --------- --------- --------- --------- -------

NET (LOSS) INCOME ($8,408) ($7,022) ($9,248) $3,213 so so $745 $784 ($16,911) ($3,025) 

========= ========= ========= ========= ========= ========= ========= ========= ========= ========= =======

The acc~nying notes are an integral part of this sched.Jle. 

Page 36 
U.S. GOVERNMENT PRINTING OFFICE 

IIH§I'UIIi=i,IE:::::IBIII!§I::::III:::::§I!RII§§§!!i::m!B::::'IIUIOOUI§::,IIUI!'.!IUI

REVENUES 

For the Years Ended September 30, 1996 (Unaudited) and 1995 (Audited) 

(Dollars in Thousands) 

Total In-House Printing Purchased Printin

Plant Printing 

Operations 

1996 1995 

Regional Printing 

1996 1995 

Percent 

of 

1996 Revenues 1995 

Percent 

of 

Revenues 1996 

Percent 

of 

Revenues 1995 

Percent 

of 

Revenue

Printing and binding $170,996 $174,804 S3,081 S4,995 $174,077 91 S179,799 90 $559,623 100 $574,665 100 

Sales of blank paper 16,605 19,646 - - 16,605 9 19,646 10 - - - - Sales of waste and scrap 777 1,425 - - 777 - 1,425 - - - - - 

--------- --------- --------- --------- --------- ------ --------- ------ --------- ------ --------- ------ 

Total revenues 188,378 195,875 3,081 4,995 191,459 100 200,870 100 559,623 100 574,665 100 

--------- --------- --------- --------- --------- ------ --------- ------ --------- ------ --------- ------ 

EXPENSES 

Printing and reprod.lction - - - - - - - - 513,452 92 532,100 94 Personnel and 

benefits 134,630 138,895 2,811 3,292 137,441 71 142,187 70 32,621 6 33,927 6 

Supplies and materials 44,819 49,277 848 1,231 45,667 24 50,508 25 1,042 0 761 - 

Rents, camu1ications, and 

utilities 6,758 6,72.4 1,023 965 7,781 4 7,689 4 9,731 2 2,751 - 

Depreciation and amortization 4,940 4,989 207 345 5,147 3 5,334 3 302 0 338 - 

Other services 3,103 3,159 151 181 3,254 2 3,340 2 559 0 576 - 

Travel and transportation 697 450 58 45 755 0 495 - 1,738 0 2,551 - 

--------- --------- --------- --------- --------- ------ --------- ------ --------- ------ --------- ------ 

Total expenses 194,947 203,494 5,098 6,059 200,045 104 209,553 104 559,445 100 573,004 100 

--------- --------- --------- --------- --------- ------ --------- ------ --------- ------ --------- ------ 

NET (LOSS) INCOME ($6,569) ($7,619) ($2,017) ($1,064) ($8,586) (4) ($8,683) (4) S178 0 S1,661 - 

========= ========= ========= ========= ========= ====== ========= ====== ========= ====== ========= ====== 

The notes are an integral part of this schedule. 

Page 37 
U.S. GOVERNMENT PRINTING OFFICE 

SUPBCIMf;;IIIP $gi.JIQI!Ui;::;e BIIIRIGS!DNI::IIBINial, EIB.ItiEIBMI/t=tiN IJ.SS

.·.·.·.·.·.·.·,·,·.·,·,·,·,·,·,·,·,·,·,·,·.·.·,·,·,·,·.·.·.·.·.·,·.·.·.·.·.·.·.·.·.·.·.·.·,·,·.·.·.·.·.·.·,·,·,·,·,·,·.·.·.·.·,·.·.·,·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·,·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·.·,·.·.·.·.·.·.·.·.·.·.·.·.···.···· For the Years Ended September 30, 1996 (Unaudited) and 1995 (Audited) 

(Dollars in Thousands) 

Sales of Publications Programs Agency Distribution Services Salaries and Expenses Programs 

--------------------------------- ----------------------------------- ----------------------------------- -

Percent Percent Percent Percent Percent Percent 

of of of of of of 

1996 Revenues 1995 Revenues 1996 Revenues 1995 Revenues 1996 Revenues 1995 Revenues 

----------------- --------------- ------------------ ---------------- ------------------ ---------------- -

REVENUES 

Sales of publications $70,470 100 sao, 136 100 s - - s - - s - - s - - $

Appropri ati ens - - - - - - - - 31,338 100 27,582 100 

Reinilursements - - - - 4,425 1DO 5,252 100 - - - - 

-------- ------ -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -

Total revenues 70,470 100 80,136 1DD 4,425 100 5,252 100 31,338 100 27,582 100 1

-------- ------ -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -

EXPENSES 

Printing and reproduction 465 1 732 1 97 2 84 2 17,081 55 13,131 48 

Personnel CoqlenSation and 

benefits 28,776 42 29,108 37 2,269 51 2,279 43 7,405 23 7,322 26 

Supplies and materials 1,756 2 1,394 2 155 4 145 3 491 2 360 1 

Rents, COIIIIU'Iications, and 

utilities 13,773 2D 16,525 21 1,964 45 2,435 46 1,482 5 1,574 6 

Publications sold 22,163 31 18,803 23 - - - - - - - - 

Depreciation and amortization 852 1 873 1 80 2 132 3 1,213 4 1,125 4 

Other services 1,190 2 1,046 1 142 3 152 3 2,935 9 2,706 10 

Surplus publications 8,710 12 5,945 7 - - - - - - - - 

Travel and transportation 1,693 2 2,461 3 58 1 61 1 731 2 1,364 5 

-------- ------ -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -

Total expenses 79,378 113 76,887 96 4,765 108 5,288 101 31,338 100 27,582 100 1

---·----- ------ -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -

NET (LOSS) INCOME ($8,908) (13) S3,249 4 ($340) (8) ($36) (1) so 0 so 0 (

======== ====== ======== ======== ======== ======== ======== ======== ======== ======== ======== ======== =

The acc~nying notes are an integral part of this schec1Jle. 

Page 38