EXECUTIVE OFFICE OF THE PRESIDENT

OFFICE OF MANAGEMENT AND BUDGET

WASHINGTON, DC   20503

October 16, 1996

								OMB BULLETIN NO. 97-01

TO THE HEADS OF EXECUTIVE DEPARTMENTS AND AGENCIES 

SUBJECT:  Form and Content of Agency Financial Statements 

1.  Purpose.  This Bulletin and the accompanying Attachment define the form and content of financial statements of the executive departments and agencies listed in the Attachment, as

required by 31 U.S.C. 3515(d).

This Bulletin incorporates the concepts and standards contained in the Statements of Federal

Financial Accounting Concepts (SFFACs) and Statements of Federal Financial Accounting

Standards (SFFASs) recommended by the Federal Accounting Standards Advisory Board

(FASAB) and approved by the Secretary of the Treasury, the Director of the Office of

Management and Budget (OMB), and the Comptroller General as of the date of this Bulletin. 

These concepts and standards are listed in the Attachment.

2.  Policy.  Financial statements submitted to the Director of the OMB pursuant to this Bulletin shall be prepared in accordance with the formats and instructions presented in the Attachment. 

The purpose of the statements is to present financial position and the results of operations, as

required by 31 U.S.C. 3515(b).  The formats and instructions provide a framework within which

individual agencies have the flexibility to provide information useful to the Congress, agency

managers, and the public.  The formats and instructions provide guidance for meeting the

requirements contained in the SFFASs.  Executive departments and agencies are expected to

continue preparing other  financial reports which are used to monitor and control obligations and

expenditures of budgetary resources. 

3.  Effective Date.  The provisions of this Bulletin are effective in their entirety for the preparation of financial statements for the fiscal year ending September 30, 1998.  The schedule

displayed on page 3 of the Attachment should be referred to for guidance on the application of the provisions of this Bulletin for fiscal years ending September 30, 1996 and 1997.  Early

implementation of the provisions of this Bulletin is permitted only with the advance approval of

OMB. 

4.  Inquiries and Copies.  Inquiries should be addressed to the Financial Standards and Reporting Branch, Office of Federal Financial Management, OMB, Washington, DC 20503, telephone (202) 395-3993.  Individual copies of the Bulletin may be obtained by contacting the

Executive Office of the President, Publications Office, telephone (202) 395-7332.  This

document is also available on the OMB home page on the Internet which is currently located at

http://www.whitehouse.gov/WH/EOP/OMB/html/ombhome.html.

                                                                                    /s/

							Franklin D. Raines

							Director

Attachment

EXECUTIVE OFFICE OF THE PRESIDENT

OFFICE OF MANAGEMENT AND BUDGET

WASHINGTON, DC   20503

November 20, 1998

TO THE HEADS OF EXECUTIVE DEPARTMENTS AND AGENCIES

FROM:	G. Edward DeSeve   /S/

		Acting Deputy Director for Management

SUBJECT:	Technical Amendments to OMB Bulletin 97-01, Form and Content of Agency Financial Statements

1.  Purpose.  This transmittal memorandum contains technical amendments to OMB Bulletin 97- 01, Form and Content of Agency Financial Statements.  The purpose of these amendments is to address revised standards and issues that have arisen since the issuance of Bulletin 97-01.

2.  Applicability.  The amendments to OMB Bulletin 97-01 apply to those entities listed in  Appendix A and B of OMB Bulletin No. 98-08, Audit Requirements for Federal Financial Statements.

3.  Effective Date.  The amendments are effective with financial statements prepared for fiscal years ending on and after September 30, 1998.

4.  Instructions.  Replace original pages in OMB Bulletin 97-01 with the replacement pages and the Appendix attached to this memorandum (See the attached list of replacement pages).

5.  Inquiries.  Further information concerning this memorandum may be obtained by contacting the Office of Management and Budget, Office of Federal Financial Management, Washington,

DC 20503, telephone (202) 395-3993.

6.  Copies.  Individual copies of this memorandum, as well as the amended version of OMB Bulletin 97-01, may be obtained from the OMB home page on the Internet at

http://www.whitehouse.gov/WH/EOP/omb.

Attachments

Technical Amendments to OMB Bulletin 97-01, Form and Content of Agency Financial Statements

Instructions:

Replace the following pages for the reasons indicated:

9 	Added new paragraphs 2 and 3 and renumbered existing paragraphs to recognize that the

formats are illustrative only and may be modified and to clarify that comparative

statements are not required until the Year 2000. 

10	Renumbered paragraphs because of the additions of paragraphs 2 and 3 on page 9. 

13	Added a requirement for reporting on Year 2000 issues.

14

15	Replaced Consolidated Balance Sheet.  Deleted the captions “Governmental Assets” and

“Governmental Liabilities.”

16

17

18	1.  Removed reference to “Governmental Assets.”

2.  Added language to provide reporting guidance on intragovernmental assets.

3.  Defined “non-federal entity.”

4.  Provided that interest receivable is to be reported as part of related asset account.

5.  Provided guidance on reporting of receivables related to borrowings under certain

circumstances.

6.  Provided guidance on the reporting of special receipt accounts associated with

negative subsidies.

21

22

23	1.  Expanded the definition of liabilities covered by budgetary resources to include

certain unrealized resources available in the future.

2.  Deleted “Governmental Liabilities.”

3.  Provided for interest payable to be reported as part of related liability account.

4.  Provided guidance on reporting of negative subsidy allowances and positive and

negative loan guarantee liabilities.

5.  Changed title of “Pensions, Other Retirement Benefits, and Other Post-Employment

Benefits” to “Federal Employee and Veteran’s Benefits.”

6.  Provided that “Insurance Liabilities” are to be reported as “Other Liabilities.”

25	Replaced the Consolidating Statement of Net Cost.  Changed the format to include a

combined total column.

26

27

28	Revised “Instructions for the Statement of Net Cost” to clarify which costs are to be

included in inter-entity costs (See Program Costs) and to provide for the reporting of

combined totals. 

30	Replaced the Consolidating Statement of Changes in Net Positon for the purpose of

placing parenthesis where appropriate.

33	Replaced the Statement of Budgetary Resources with a Combining Statement of

Budgetary Resources to facilitate statement preparation.  Elimination of intra-agency

transactions are not required. 

34	Changed the instructions for the Statement of Budgetary Resources to provide for a

combining statement in lieu of a consolidated statement.

35	Changed the heading on the Statement of Financing to read “consolidated or combined”

to indicate that this statement may be either a consolidated or combined statement.

36

37	Changed the instructions for the Statement of Financing to provide for a combining

statement in lieu of a consolidated statement.

38	Modified the Statement of Custodial Activity to specify the agencies to which resources

were transferred and the amounts transferred to each agency. 

39	Amended the Instructions for the Statement of Custodial Activity to require the reporting

of the agencies to which resources were transferred and the amounts transferred to each

agency.

44	Revised Note 4 to remove the caption “Governmental Securities.”

45	Revised the Instructions for Note 4 to remove the discussion of “Governmental

Securities.”

46	Revised Note 6  to remove the caption “Governmental Securities.”

55	Modified the instruction in the first full sentence to read: “The sum of columns 2,3 and 5

less column 4 is reported as Defaulted Guaranteed Loans Receivable, Net (column 6).”

61

62	Amended the Instructions to Note 10 to provide an exception to the rule that all debt is to

be classified as not covered by budgetary resources.  The exception is credit program

debt and loan guarantee and other liabilities covered by budgetary resources.

63	Revised Note 11 to remove the caption “Governmental.”

64	Amended the definition of “Other Liabilities” by removing the discussion of clean-up

costs.   

68	Revised the title of Note 13 from “Pensions, Other Retirement Benefits, and Other Post-

Employment Benefits” to “Federal Employee and Veteran’s Benefits.”

69	Added Note 17, “Environmental Clean-up Costs.”

71

72	Added a requirement to disclose gross cost and earned revenue by budget functional

classification.

73	Revised the disclosure requirements for non-exchange revenues to delete the requirement

to disclose revenue-related transactions in accordance with amendments to SFFAS No. 7.

77	Amended the reporting requirements for stewardship investments to limit reporting to the

current year for 1998 and, in subsequent years, report data on each year subject to audit

until five years of such data is reported. 

78	Revised the supplementary reporting requirements for custodial activities to include

factors affecting the collectibility of compliance assessments recognized as taxes

receivable and the amounts by which trust funds may be over or under-funded in

comparison with the requirements of law, if reasonably estimable.

	January 7, 2000

M-00-05

MEMORANDUM FOR THE HEADS OF EXECUTIVE DEPARTMENTS AND

ESTABLISHMENTS, CHIEF FINANCIAL OFFICERS, AND INSPECTORS GENERAL

FROM:	Deidre Lee  /S/

		Acting Deputy Director for Management

SUBJECT:  	Technical Amendments to OMB Bulletin No. 97-01,

		Form and Content of Agency Financial Statements

1.  Purpose.  This transmittal memorandum contains technical amendments to and clarification of OMB Bulletin No. 97-01, Form and Content of Agency Financial Statements, dated October 16, 1996, as amended by OMB Memorandum 99-03, Technical Amendments to OMB Bulletin No. 97-01, Form and Content of Agency Financial Statements, dated November 20, 1998.  The technical amendments address revised financial statement reporting requirements for fiscal years (FY) 1999 and 2000, except for amendments which may result from new Federal accounting standards (e.g., amendments to multi-use heritage assets).  These amendments include the

following:

	(a) Pursuant to SFFAS No. 14, Amendments to Deferred Maintenance Reporting, deferred maintenance is to be presented as required supplementary information rather than as a note

disclosure and line item on the statement of net cost with a reference to the note disclosure.

	(b) Intra-governmental amounts and the related federal trading partners for assets, liabilities,

earned revenue from trade (buy/sell) transactions, and non-exchange revenue are to be presented

as required supplementary information.  The gross cost to generate earned revenue from trade

transactions are to be presented by budget functional classifications as required supplementary

information.

	(c) The instructions for the statement of net cost require a separate disclosure of intra-

governmental gross cost and earned revenue by budget functional classification.  This reporting

requirement is in addition to the current requirement to disclose total entity gross cost and earned

revenue by budget functional classification.

	(d) The instructions for the balance sheet clarify form and content guidance previously issued

by the Office of Management and Budget (OMB) and require Benefits Due and Payable to be

separately reported from Other Liabilities.

	(e) The balance sheet presentation may be simplified by:

	i.	combining “Entity” and “Non-Entity” assets on the face of the balance sheet, and reporting “Non-Entity” assets in a note disclosure rather than on the statement; and

	ii.	combining “Liabilities Covered by Budgetary Resources” and “Liabilities Not Covered by Budgetary Resources” on the face of the balance sheet, and reporting “Liabilities Not Covered by Budgetary Resources” in a note disclosure rather than on the statement.

	(f)  In accordance with OMB Memorandum 99-03, Technical Amendments to OMB Bulletin No. 97-01, Form and Content of Agency Financial Statements, dated November 20, 1998, the authority to prepare a combining statement of budgetary resources and a combined statement of financing is extended through FY 2000.

2.  Policy.  Financial statements shall be prepared in accordance with the formats and instructions presented in OMB Bulletin No. 97-01, as amended by OMB Memorandum 99-03 and this

Attachment.  The FY 1999 and FY 2000 financial statements shall be submitted to the Director

of OMB no later than the statutory due dates of March 1, 2000, and 2001, respectively.  Also, no later than March 6 following the end of the fiscal year, Chief Financial Officers shall submit a copy of their agency’s management representation letter to the: (1) Controller, Office of Federal

Financial Management, OMB; (2) Commissioner, Financial Management Service (FMS),

Department of the Treasury; and (3) Acting Assistant Comptroller General, Accounting and

Information Management Division, General Accounting Office (GAO) (See OMB Bulletin No.

98-08, “Audit Requirements for Federal Financial Statements,” paragraph 6, and subsequent

issuances).  The OMB, GAO, and FMS will use these letters in conjunction with the preparation

and audit of the financial statements of the U.S. Government.  

3.  Applicability.  The amendments to OMB Bulletin No. 97-01 apply to those entities listed in  Appendix A and B of OMB Bulletin No. 98-08, Audit Requirements for Federal Financial Statements, and subsequent issuances.

4.  Effective Date.  The technical amendments described in paragraph 1 (a), (b), (c) and (d) are effective for financial statements prepared for fiscal years ended after September 30, 1998 (FY

1999).  The technical amendments described in paragraph 1 (e) and (f) are optional for fiscal

years 1999 and 2000.

5.  Recent Developments.  Recent noteworthy developments in, and changes to, federal accounting and reporting standards for federal governmental entities include the following: 

	(a) On October 19, 1999, the AICPA Council passed a resolution recognizing that standards

promulgated by the Federal Accounting Standards Advisory Board constitute generally accepted

accounting principles (GAAP) under Rule 203, “Accounting Principles,” of the AICPA’s Code of Professional Conduct.  Upon their adoption by OMB, FASAB standards become binding on Federal agencies.  Members may now express an opinion that the financial statements of a

federal governmental entity are in conformity with GAAP if they are prepared in conformity with accounting principles promulgated by the FASAB.  Pursuant to the resolution, the Statements of

Federal Financial Accounting Standards issued since March 1993 are recognized as GAAP for

the applicable federal governmental entities.

	(b) OMB issued SFFAS No. 15, Management’s Discussion and Analysis (MD&A),  requiring MD&A to be included in each general purpose federal financial report as required supplementary information and identifying subjects that should be addressed in the MD&A.  The

standards are effective for reporting periods that begin after September 30, 1999.  See SFFAS No. 15 for reporting requirements. 

	(c) OMB issued SFFAS No. 17, Accounting for Social Insurance, requiring benefits due and payable to be reported separately and requiring the reporting of supplementary stewardship

information that facilitates assessing the program’s long-term sustainability and the ability of the

program to raise resources from future program participants to pay for benefits proposed to

present participants.  The standards are effective for reporting periods that begin after September

30, 1999.  See SFFAS No. 17 for reporting requirements.

6.  Inquiries.  Further information concerning this memorandum may be obtained by contacting the Office of Management and Budget, Office of Federal Financial Management, Washington,

DC 20503, telephone (202) 395-3993.

7.  Copies.  Individual copies of this memorandum may be obtained from the OMB home page on the Internet at http://www.whitehouse.gov/OMB.

Attachment

	ATTACHMENT

	OMB BULLETIN NO. 97-01  

	FORMATS AND INSTRUCTIONS

	FOR  THE

	FORM AND CONTENT OF 

	AGENCY FINANCIAL STATEMENTS

	ATTACHMENT TO OMB BULLETIN NO.  97-01

	TABLE OF CONTENTS

INTRODUCTION AND SUMMARY..............................................................................	    1

	Purpose.................................................................................................................	    1

	Background..........................................................................................................										    1

	Coverage...............................................................................................................	    1

	Effective Date.......................................................................................................			    2

	Reporting Entity....................................................................................................	    3

	Content of Annual Financial Statement..................................................................	    4

	Relationship of Financial Statements to Accountability Reports .............................	     5

	Hierarchy of Accounting Principles and Standards.................................................	    6

EXECUTIVE DEPARTMENTS AND AGENCIES COVERED BY THIS BULLETIN..	    7

GENERAL INSTRUCTIONS FOR THE FINANCIAL STATEMENTS..........................	    8

INSTRUCTIONS FOR THE OVERVIEW.......................................................................	  11

BALANCE SHEET FORMAT.........................................................................................	  14

INSTRUCTIONS FOR THE BALANCE SHEET............................................................	  16

	Assets...................................................................................................................	  16

	Liabilities...............................................................................................................	  21

	Net Position..........................................................................................................						  24

STATEMENT OF NET COST FORMAT........................................................................				  25

INSTRUCTIONS FOR THE STATEMENT OF NET COST...........................................		  26

STATEMENT OF CHANGES IN NET POSITION FORMAT........................................	  	30

INSTRUCTIONS FOR THE STATEMENT OF CHANGES IN NET POSITION .........	  31

STATEMENT OF BUDGETARY RESOURCES FORMAT............................................		  33

INSTRUCTIONS FOR THE STATEMENT OF BUDGETARY RESOURCES...............	  34 

STATEMENT OF FINANCING FORMAT....................................................................	  35 

INSTRUCTIONS FOR THE STATEMENT OF FINANCING .......................................	  	36

STATEMENT OF CUSTODIAL ACTIVITY FORMAT.................................................	  		38

INSTRUCTIONS FOR THE STATEMENT OF CUSTODIAL ACTIVITY....................	  39

NOTES TO THE FINANCIAL STATEMENTS..............................................................	  		41

	Significant Accounting Policies..............................................................................	  			41

	Fund Balances With Treasury................................................................................	  				41 

	Cash, Foreign Currency and Other Monetary Assets..............................................				  42

	Investments...........................................................................................................						  44

	Accounts Receivable.............................................................................................					  45

	Other Assets.........................................................................................................						  46

	Direct Loans and Loan Guarantees, Non-Federal Borrowers..................................			   47

	Inventory and Related Property.............................................................................					  57

	General Property, Plant, and Equipment..................................................................	  			60

	Debt......................................................................................................................	  					61

	Other Liabilities....................................................................................................						  63

	Leases...................................................................................................................						  65

	Pensions, Other Retirement Benefits, and Other Post-Employment Benefits...........	  			68

	Life Insurance Liabilities.........................................................................................						  68

	Unexpended Appropriations..................................................................................					  69

	Contingencies.......................................................................................................						  69

	Footnote Disclosures Related to the Statement of Net Cost...................................	  		69

	Footnote Disclosures Related to the Statement of Changes in Net Position...........	  71

	Footnote Disclosures Related to the Statement of Budgetary Resources ...............	  72

	Footnote Disclosures Related to the Statement of Financing..................................				  72

	Footnote Disclosures Related to the Statement of Custodial Activity.....................	    72

	Footnote Disclosures not Related to a Specific Statement.....................................				  73

REQUIRED SUPPLEMENTARY STEWARDSHIP INFORMATION............................		  74

	Stewardship PP&E................................................................................................	  74

	Stewardship Investments.......................................................................................					  76

	Risk Assumed Information.....................................................................................					  77

REQUIRED SUPPLEMENTARY INFORMATION.......................................................			  78

	Statement of Budgetary Resources........................................................................					  78

	Statement of Custodial Activity............................................................................					  78

	Segment Information.............................................................................................					  78

OTHER ACCOMPANYING INFORMATION................................................................	  80

	Performance Measures...........................................................................................   					  80

	Revenue Foregone..................................................................................................								  80 

	Tax Burden/Tax Gap............................................................................................     	   80

DISCLOSURE CHECKLIST...........................................................................................					  81

	List of Standards and Effective Dates....................................................................					  82

	Disclosures Required by SFFAS No. 1..................................................................				  83

	Disclosures Required by SFFAS No. 2..................................................................				  84

	Disclosures Required by SFFAS No. 3..................................................................				  84

	Disclosures Required by SFFAS No. 4..................................................................	  			93

	Disclosures Required by SFFAS No. 5..................................................................				  93

	Disclosures Required by SFFAS No. 6..................................................................	  			96

	Disclosures Required by SFFAS No. 7..................................................................		102

	Disclosures Required by SFFAS No. 8..................................................................				107

	INTRODUCTION AND SUMMARY

    I.	Purpose.  This Bulletin is issued under the authority of  31 U.S.C. 3515 (d).  The Bulletin defines the form and content for financial statements that are required to be submitted to

the Director of the Office of Management and Budget (OMB) pursuant to the

requirements of 31 U.S.C. 3515(a).  These statements are in addition to the reports

submitted to OMB for purposes of monitoring and controlling the obligation and

expenditure of budgetary resources.

	This Bulletin incorporates the concepts and standards contained in the Statements of Federal

Financial Accounting Concepts (SFFACs) and Statements of Federal Financial Accounting

Standards (SFFASs) recommended by the Federal Accounting Standards Advisory Board

(FASAB) and issued by OMB as of the date of this Bulletin.  These concepts and standards

are listed on page 8 of this Attachment.  

   II.	Background.  Federal agencies have traditionally prepared financial reports to monitor and control the obligation and expenditure of budgetary resources.  With the enactment of

the Chief Financial Officers (CFOs) Act, Congress called for the production of financial

statements that fully disclose a Federal entity's financial position and results of

operations, and provide information not only for the effective allocation of resources but

also with which Congress, agency managers, the public, and others can assess

management performance and stewardship.  Hence, OMB, in consultation with the CFO

Council, the President's Council on Integrity and Efficiency, and other interested parties,

developed the formats and instructions for financial statements described and illustrated

in this Attachment.

 III.	Coverage.  The provisions of this Bulletin apply to the executive agencies listed in this Attachment.  Components of agencies listed that are required by law or policy to issue

financial statements prepared in accordance with accounting standards other than those

recommended by FASAB and issued by OMB and the General Accounting Office (GAO)

shall continue to comply with applicable standards. When the reporting entities of which

the components are a part issue consolidated or consolidating statements that include the

components, the Federal accounting standards recommended by FASAB shall be applied

to the components.

	This Bulletin prescribes the form and content for agency financial statements.  It does not

address requirements for the consolidated financial statements (CFS) of the Federal

Government.  Form and content guidance for the CFS will be issued at a later date.  

	These formats and instructions provide a framework within which individual agencies have

the flexibility to provide information useful to the Congress, agency managers, and the

public.  The formats and instructions provide guidance for meeting the requirements

contained in the SFFASs.  

 IV.	Effective Date.  The provisions of this Bulletin are effective in their entirety for the  	preparation of financial statements for the fiscal year ending September 30, 1998.

	Preparers of financial statements covering fiscal years ending September 30, 1996 and 

	1997 shall refer to OMB Bulletin 94-01 for guidance.  However, some of  that guidance is

modified or supplemented by certain provisions of this Bulletin. The following chart

identifies the extent to which the changes in this Bulletin impact financial statements for

fiscal years ending September 30, 1996 and 1997.   Early implementation of the provisions of

this Bulletin is permitted only with the advance approval of OMB.

Provisions of this Bulletin effective before October 1, 1997 (FY

1998)	Effective

for FY 1996	Effective

for FY 1997 

Introduction and Summary

	Reporting entity criteria		

	X     	                 

	X

General Instructions

	Instruction # 9 -- When agencies present disaggregated

information for component organizations, the total column

for the entity as a whole should reflect consolidated totals

net of intra-entity transactions.

	Instruction #10 -- If information on the assets, liabilities,

costs and revenues of franchise funds and other intra-

governmental support revolving funds are not separately

disclosed in the entity’s principal financial statements, then

selected critical segment information as described on page

78 of this Attachment shall be reported.	                    

    		  	X 

	X

	X

Instructions for the Overview

	Performance measures presented in the overview and as

other accompanying information should be consistent with

the measures used by agencies as part of their Government

Performance and Results Act (GPRA) implementation

efforts.	

	X	

	X

Footnote Disclosures 

	Investments

	Direct loans and loan guarantees

	Debt

	Pensions, other retirement benefits, and other post-     			empl oym

ent

bene

fits

	Life insurance liabilities

	Contingent liabilities		     

	X

	X

 	X

	X

	X

	X

	X

	X

	X

Required Supplemental Information

	Segment information		

	X

   V.	Reporting Entity.  The 24 executive departments and agencies covered by this Bulletin are reporting entities and, as such, are required to prepare organization-wide financial

statements.  SFFAC No. 2, Entity and Display, includes two types of criteria for determining which components of  executive departments and agencies shall be included

in their organization-wide financial statements.  The first is the conclusive criterion, i.e.,

an inherent conclusion that for, financial reporting purposes, any organization meeting this criterion is part of a specified larger entity.  Appearance in the Federal budget section

currently entitled Federal Programs by Agency and Account is a conclusive criterion.  Any organization, program or budget account, including off-budget accounts and

government corporations, included in that section shall be considered part of the Federal

Government, as well as part of the executive department or agency with which it appears 

(e.g., the Saint Lawrence Seaway Development Corporation appears in the budget within

the Department of Transportation).  

	There may be rare exceptions to the application of  the conclusive criterion, e.g., the Indian

Tribal Trust funds administered by the Department of the Interior.  These funds are included

in the budget so they appear to meet the conclusive criterion.   However, the funds belong to

the individual Indians or tribes and are not assets of the Federal Government.  Therefore, they

are not to be included in the Department of the Interior’s Balance Sheet, Statement of Net

Cost, and Statement of Changes in Financial Position.  OMB approval shall be obtained for

exemptions to the conclusive criterion.

	The second type of criteria is indicative criteria.  The indicative criteria described below 

should be considered in the aggregate when determining what components to include in an

executive department or agency’s organization-wide financial statement.  

	∙	It exercises any sovereign power of the government to carry out Federal functions.

	∙	It is owned by the Federal Government.

	∙	It is subject to the direct or continuing administrative control of an executive department or agency.

	∙	It carries out Federal missions and objectives.

	∙	It determines the outcome or disposition of matters affecting the recipients of services that the Federal Government provides.

	∙	It has a fiduciary relationship with an executive department or agency.

	A detailed explanation of the conclusive and indicative criteria can be found in SFFAC No.

2.	

   VI.	Content of Annual Financial Statement.  The "Annual Financial Statement" of a reporting entity shall comprise:

	(1)  Overview of the reporting entity

	(2)  Principal statements and related notes

	(3)  Required supplemental stewardship information  

	(4)  Required supplemental information

	In addition, the annual financial statement should include "other accompanying information"

that, in the judgment of management, provides users of the financial statement with relevant

information useful for obtaining a better understanding of the entity's programs and the extent

to which they are achieving their intended objectives.

	Preparation of the annual financial statement is the responsibility of agency management.  In

carrying out that responsibility, each agency CFO should prepare a policy bulletin or

guidance memorandum that guide agency fiscal and management personnel in the

preparation of the annual financial statement(s) required for submission by that agency.  

	The principal statements shall include:

		(1) Balance Sheet

		(2) Statement of Net Cost

		(3) Statement of Changes in Net Position

		(4) Statement of Budgetary Resources

		(5) Statement of Financing

		(6) Statement of Custodial Activity

	A detailed description and instructions for each of the parts of the annual financial statement

is provided in this Attachment.  

	Financial statements prepared in accordance with this Bulletin should present summary or

detailed information necessary to make the statements most useful to readers.  Care should be

taken to avoid placing so much detail in the body of the statements that they cannot be easily

comprehended.  Where substantial detail is necessary to properly convey the information, the

body of the statement should contain summary information and the detail should be reported

in notes to the statements.  The instructions for each of the principal statements describe the

ways in which information should be presented.

 VII.	Relationship of Financial Statements to Accountability Reports.  The Government Management Reform Act of 1994 (GMRA) grants the Director of OMB the authority to

consolidate or adjust the frequency and due dates of certain statutory financial

management reports after consultation with the Congress. Under this authority, selected

agencies are preparing Accountability Reports.  Accountability Reports are intended to

streamline reporting by providing critical financial and program performance information

in a single report.  The financial statements prepared in accordance with this Bulletin and

the related auditor's reports are major components of these Accountability Reports.  It is

expected that eventually all CFOs Act agencies will prepare Accountability Reports.  

VIII.	Hierarchy of Accounting Principles and Standards.  The eight SFFASs identified in this document shall be followed by Federal agencies in reporting under GMRA. These

standards cover most transactions.  However, agencies may engage in transactions that

are not addressed by these standards.  In that event, agencies shall view the following hierarchy as providing sources of generally accepted accounting principles for the Federal

Government:

	1.	Individual standards agreed to by the Director of OMB, the Controller General, and the Secretary of the Treasury and published by OMB and the General Accounting Office. 

	2.	Interpretations related to the SFFASs issued by OMB in accordance with the procedures outlined in OMB Circular A-134, "Financial Accounting Principles and Standards."

	3.	Requirements contained in OMB's Form and Content Bulletin in effect for the period covered by the financial statements.

	4.	Accounting principles published by other authoritative standard-setting bodies and other authoritative sources (a) in the absence of other guidance in the first three parts of this

hierarchy, and (b) if the use of such accounting principles improves the meaningfulness

of the financial statements.

	EXECUTIVE DEPARTMENTS AND AGENCIES

 	COVERED BY THIS BULLETIN 

		  1.	Department of Agriculture

		  2.	Department of Commerce

		  3.	Department of Defense

		  4.	Department of Education

		  5.	Department of Energy

		  6.	Department of Health and Human Services

		  7.	Department of Housing and Urban Development

		  8.	Department of the Interior

		  9.	Department of Justice

		10.	Department of Labor

		11.	Department of State

		12.	Department of Transportation

		13.	Department of the Treasury

		14.	Department of Veterans Affairs 

		15.	Agency for International Development

		16.	Environmental Protection Agency

		17.	Federal Emergency Management Agency

		18.	General Services Administration

		19.	National Aeronautics and Space Administration

		20.	National Science Foundation

		21.	Nuclear Regulatory Commission

		22.	Office of Personnel Management

		23.	Small Business Administration

		24.	Social Security Administration

	GENERAL INSTRUCTIONS FOR THE FINANCIAL STATEMENTS 

1.	The principal statements and instructions embody the financial accounting concepts and the recognition and measurement requirements contained in the Statements of Federal Financial

Accounting Concepts (SFFACs) and Standards (SFFASs) recommended by the Federal

Accounting Standards Advisory Board (FASAB) and approved by the Secretary of the

Treasury, the Director of the OMB, and the Comptroller General.  These SFFACs and

SFFASs are listed below:

	Number	Name and Effective Date

	SFFAC No. 1	Objectives of Federal Financial Reporting

	SFFAC No. 2	Entity and Display

	SFFAS No. 1.	Accounting for Selected Assets and Liabilities -- For fiscal years ending on and after September 30, 1994 

	SFFAS No. 2.	Accounting for Direct Loans and Loan Guarantees -- For fiscal years ending on and after September 30, 1994 

	SFFAS No. 3.	Accounting for Inventory and Related Property -- For fiscal years ending on and after September 30, 1994 

	SFFAS No. 4.	Managerial Cost Accounting Concepts and Standards -- For fiscal years beginning after September 30, 1996

	SFFAS No. 5.	Accounting for Liabilities of the Federal Government -- For fiscal years beginning after September 30, 1996

	SFFAS No. 6.	Accounting for Property, Plant, and Equipment -- For fiscal years beginning after September 30, 1997 

	SFFAS No. 7.	Accounting for Revenue and Other Financing Sources and Concepts for Reconciling Budgetary and Financial Accounting -- For fiscal years beginning

after September 30, 1997 

	SFFAS No. 8 	Supplementary Stewardship Reporting -- For fiscal years beginning after September 30, 1997 

	Preparers of financial statements seeking detailed guidance on matters involving the

recognition and measurement requirements for the transactions and information covered by

these SFFASs should refer to the specific standards.

2.	The format displays in OMB Bulletin 97-01 are for illustrative guidance only.  They do not in and of themselves constitute mandatory accounting and reporting requirements.  Agencies may modify the displays to best present the information for their programs.  In doing so, they

may add or remove lines and may use different words than those provided in the displays. 

The descriptions and displays in the statements must meet the authoritative standards that

govern the nature and purpose of the statements, the recognition and measurement of items

on the statements, and the required disclosures.

3.	Comparative financial statements are permitted but not required until reporting periods beginning after September 30, 1999 (FY 2000).  Further guidance on comparative reporting

will be provided in a future form and content bulletin. When comparative statements are presented, footnotes should be written so as to contain the information necessary for full

disclosure of both years. 

4.	Where the accounting standards above or the instructions below do not provide guidance, agencies shall follow the hierarchy of accounting principles described on page 6 of this Attachment.

5.	Round dollar amounts to the nearest whole dollar, thousand, or million based upon informative value to the reporting entity.  Maintain the chosen rounding level throughout the

principal statements and footnotes.  Ensure that individual line items add up to the totals by

adjusting the line items for differences created by the rounding process rather than adjusting

column totals.

6.	Combine lines, using discretion, where balances are related in nature and are not material enough to warrant separate disclosure.

7.	Exclude statement line items, footnotes, and lines or columns in footnotes that are not informative for the reporting entity.  For example, for a line item for which the referenced

account balance is immaterial, combine the amount into another appropriate line and retitle

the line as appropriate.  If the referenced account balance is not applicable to the reporting

entity, omit it.

8.	Do not designate as "other" any discrete balances of a material amount.  Material balances should be separately reported and designated by name.  The "other" category should not

aggregate to an amount which is material. 

9.	Sequentially number the footnotes without regard to the numbers in this document.

10.	Ensure that schedules presented in the footnotes in support of amounts presented on financial statements have total figures which agree with the amounts presented in the body of the

financial statements. 

11.	Financial statements prepared in accordance with this Bulletin may be aggregated or disaggregated in different ways depending on the nature of the statement.  Beginning with the

fiscal year (FY) 1997 financial statements, when agencies present disaggregated information

for component organizations, the total column for the entity as a whole shall reflect

consolidated totals net of intra-entity transactions.

	When a reporting entity presents its financial statements in a single column format, the

statements are referred to as consolidated statements.  Financial statements that use a multi-

column format to present information on an entity’s major components or lines of business as

well as the consolidated amounts are referred to as consolidating statements.   Intra-entity

transactions needed to arrive at the consolidated amounts should also be presented in a

column on the face of the consolidating statements.

11.	A reporting entity shall include franchise funds and other intragovernmental support revolving funds among the activities covered by its financial statements.  If information

about the assets, liabilities, costs and revenues of these franchise funds and intragovernmental

support revolving funds are not separately disclosed in the entity's principal financial

statements, then condensed information as described on page 78 of this Attachment shall be reported as required supplemental information, in accordance with the applicable SFFASs. 

In addition, all franchise funds and intragovernmental support revolving funds shall also

report as required supplementary information, the segment information described on page 78. 

12.	FASAB has published an Implementation Guide to SFFAS No. 7, Accounting for Revenue and Other Financing Sources, which provides non-authoritative guidance for the preparation of all the principal statements except the balance sheet.  It may be consulted for definitions,

explanations, and rationale for the new statements.  A case study illustrates journal entries

that support the preparation of the statements.

13.	Reporting entities should assure that information in the financial statements is presented in accordance with the requirements of this bulletin and that the underlying records fully

support the information.  If an entity is not yet using the accounts and data elements of the

U.S. Government Standard General Ledger (SGL), the ledger accounts and data elements

used should be cross-walked to those of the SGL.   

	The Department of the Treasury will issue separate guidance providing a crosswalk from the accounts of the SGL to the financial statements and footnotes contained in this Bulletin.

INSTRUCTIONS FOR THE OVERVIEW

	Each annual financial statement shall include a brief narrative overview of the reporting

entity.  This overview shall provide a clear and concise description of the reporting entity and its

mission, activities, program and financial results, and  financial condition.  

	Also called the Management Discussion and Analysis (MD&A) or Discussion and Analysis

(D&A), the overview should be a joint effort of both the CFO office and the program offices. 

The preparation of the overview, like the rest of the financial statement, is the responsibility of

management.

	Government-wide implementation of the GPRA occurs with plans and reports for FY 1999. 

Over the next several years, many agencies will increasingly include measures of program

performance in the budget, Accountability Reports, and other materials they prepare for GPRA

implementation.  Performance measures in the overview section of the financial statement should

be consistent with the measures used by the agencies as part of their GPRA implementation

efforts.  

	In developing financial, statistical, and other information for presentation in the overview

section, entities should prepare and retain adequate supporting documentation for review and

audit.  

	At a minimum, the overview should contain sections which address: 

	∙	Mission and organizational structure

	∙	Performance goals and results

	∙	Limitations of the financial statements

Mission and Organizational Structure

	The overview should contain a brief description of the mission(s) of the entity and its related

organizational structure.  A mission statement should clearly articulate what the entity's major

programs and activities are intended to accomplish, consistent with the entity's strategic plan.   

Performance Goals and Results

	The entity's program and financial results should be expressed in terms of objective, relevant

measures that disclose the extent to which its programs are achieving their intended objectives. 

The entity's financial results should be summarized in a manner that would illustrate significant

indicators of its financial operations for the reporting period and changes in financial condition

during the period.  

	 Measuring costs is an integral part of measuring the efficiency and effectiveness of

programs.  Efficiency is measured by relating outputs (the quantity of services provided) to

inputs (the costs incurred to provide the services).  Effectiveness is measured by the outcome or

the degree to which a predetermined objective is met, and it is commonly combined with cost information to show "cost effectiveness."   Entities should strive to develop and report objective

measures that, to the extent possible, provide information about the cost effectiveness of

programs.  

	The reported measures of program and financial performance should be consistent with

information on major goals and objectives from the agency's strategic plan and should be linked

to the programs featured in the Statement of Net Cost.  

	For performance measures to be useful, they should:

	∙	be clearly set forth

	∙	be objective and quantifiable

	∙	be meaningful and relevant

	∙	relate to measures developed in the entity's strategic planning processes, and

	∙	present the outputs and outcomes of the program, not just the inputs or processes of the program. 

	The presentation of the measures should:

	∙	include both positive and negative results

	∙	present historical and future trends, if possible

	∙	be illustrated with charts and graphs, whenever possible, for easy identification of trends

	∙	explain the significance of the trends

	∙	provide comparison of actual results to goals or benchmarks 

	∙	show variations from goals and plans, and	

	∙	provide other explanatory information that would help readers understand the significance of the measures, the results, and any variations from goals or plans. 

	To further enhance the usefulness of the information, agencies should include an explanation

of what needs to be done and what is planned to be done to improve financial or program

performance.

	The performance measures presented in the overview should relate to the programs’ purposes

and goals, be consistent with measures previously included in budget documents and other

materials related to implementation of GPRA, and linked to the programs presented in the

Statement of Net Cost.  The measures in the overview should be limited to the entity's most significant program and financial measures. Additional measures should be presented as “Other

Accompanying Information.”  Management has broad discretion in the manner in which

performance information is displayed.  Among the options available to management is  a

statement format similar to the Statement of Program Performance Measures illustrated in

SFFAC No. 2.  Management’s display of performance information should include sufficient

explanatory information that should help readers understand the significance of the measures, the

results, and any deviations from goals or plans.

Reporting Year 2000 (Y2K) Issues

	Report the following information in the Overview/Management Discussion and Analysis:  (1)  A discussion of the agency’s state of readiness (including the status of efforts/current phase,

estimated timetable for completing remaining phases, impact of non-readiness of third parties

with which the agency has a material relationship); 	(2) The costs to address the agency’s Y2K issues, both historical and estimated future costs.  Include both the costs to fix and replace

systems;  (3) The risks of Y2K issues to the agency, including any anticipated effects on agency

operations.  Include a description of the most likely worst case scenario; and  (4) The agency’s

contingency plan(s), including how the agency is preparing to handle most likely worst case

scenarios.  If the agency does not have a contingency plan, disclose this fact, whether the agency

intends to create one, and the timetable for doing so.

Limitations of the Financial Statements

	This section should state that: (1) The financial statements have been prepared to report the

financial position and results of operations of the entity, pursuant to the requirements of 31

U.S.C. 3515(b); (2)  While the statements have been prepared from the books and records of the

entity in accordance with the formats prescribed by OMB, the statements are in addition to the

financial reports used to monitor and control budgetary resources which are prepared from the

same books and records; (3)  The statements should be read with the realization that they are for

a component of the U.S. Government, a sovereign entity.  One implication of this is that

liabilities cannot be liquidated without legislation that provides resources to do so. 

Department/Agency/Reporting entity 

CONSOLIDATED BALANCE SHEET

As of September 30, XXXX

(in dollars/thousands/millions)                     

ASSETS                                                   				 	       	  

     Entity:      

         Intragovernmental 

             Fund Balance with Treasury (Note 2)					$   xxx

             Investments  (Note 4)						    	     xxx

             Accounts receivable, net (Note 5)					        	     xxx

             Other (Note 6)                               				     	                 xxx

        Total intragovernmental							                 xxx	

         Investments  (Note 4) 	                               			     	                 xxx

        Accounts receivable, net (Note 5)                    		     	  	                 xxx

        Loans receivables and related foreclosed property, net (Note 7)	                 xxx

        Cash and other monetary assets (Note 3)			     	                 xxx 

        Inventory and related property, net (Note 8)	         	     		                 xxx

        General property plant and equipment, net (Note 9)   		  	                 xxx

        Other (Note 6)                            					                 xxx

   Total entity									              x,xxx

    Non-Entity:      

         Intragovernmental 

            Fund balance with Treasury (Note 2)					$   xxx

            Accounts receivable, net (Note 5)				    	                 xxx

            Other (Note 6)						     	                 xxx

        Total intragovernmental	

        Accounts receivable, net (Note 5)				    	                xxx

        Taxes Receivable (Note 5a)						                xxx

        Cash and other monetary assets (Note 3)			     	                xxx 

        Other (Note 6)							 	                xxx 

    Total non-entity								             x,xxx

Total Assets							          		          $ x,xxx

	______________________________________________________________

	The accompanying notes are an integral part of these statements.

LIABILITIES                                             

    Liabilities Covered by Budgetary Resources:

        Intragovernmental:

            Accounts payable		                     				         $   xxx

            Environmental cleanup costs (Note 17)				              xxx

	Debt (Note 10)	 							              xxx

	Other (Notes 11, 12 and 14)	 					              xxx

        Total intragovernmental							    	  xxx	

        Accounts payable	                           				              xxx

        Loan Guarantees (Note 7)		             			              xxx

        Debt held by the public (Note 10)        	          				              xxx

        Federal employee and veterans’ benefits (Note 13)		     	              xxx

        Environmental cleanup costs (Note 17)					              xxx

        Other (Notes 11, 12 and 14)		         				              xxx

    Total liabilities covered by budgetary resources                		           x,xxx

     Liabilities not Covered by Budgetary Resources: 

         Intragovernmental:

            Accounts payable	                          			      	              xxx

            Debt (Note 10)	 						              xxx 

            Environmental cleanup costs (Note 17)				              xxx

	Other (Notes 11, 12 and 14)						              xxx

         Total intragovernmental						              xxx

         Accounts payable	                           				              xxx

         Debt held by the public (Note 10)                  				              xxx 

         Federal employee and veterans’ benefits (Note 13) 	 		              xxx

         Environmental cleanup costs (Note 17)				              xxx

         Other (Notes 11, 12 and 14)	 					              xxx

      Total liabilities not covered by budgetary  resources                 		           x,xxx

  Total Liabilities 								                     $x,xxx

NET POSITION 

    Unexpended Appropriations (Note 15)				 	       $    xxx

    Cumulative Results of Operations                        				             xxx

Total Net Position 								             xxx

Total Liabilities and Net Position                     				       $ x,xxx

	________________________________________________________________

	The accompanying notes are an integral part of these statements.

	INSTRUCTIONS FOR THE BALANCE SHEET 

	The balance sheet presents, as of a specific time, amounts of future economic benefits owned or managed by the reporting entity exclusive of items subject to stewardship reporting (assets),

amounts owed by the entity (liabilities), and amounts which comprise the difference (net

position).  The balance sheet presents assets available for use by the reporting entity (entity

assets) separately from those managed by the reporting entity but not available for use in its

operations (non-entity assets).  The balance sheet also separately presents liabilities covered by

budgetary resources and liabilities not covered by budgetary resources.

	The balance sheet displayed on the previous pages illustrates consolidated single column

comparative information.  Reporting entities preparing financial statements in accordance with

this bulletin may present similar information or may present information in separate columns for

their primary components, e.g., bureaus or major lines of business. 

	Reporting entities should present comparative totals for the entity as a whole to allow the

reader to make appropriate comparisons with prior periods.  Entities may also elect to present

comparative data for their primary components as supplemental information.  

ASSETS

	Assets are tangible or intangible items owned by the Federal Government which would have

probable economic benefits that can be obtained or controlled by a Federal Government entity. 

The assets of Federal agencies are classified as entity assets and non-entity assets.  Both entity

assets and non-entity assets are further divided into two sub-sections: intragovernmental and

governmental assets.  These terms are defined below and in SFFAS No. 1.

Entity Assets.  These are assets which the reporting entity has authority to use in its operations.  The authority to use funds in an entity's operations means that entity management has the

authority to decide how funds are used, or management is legally obligated to use funds to meet

entity obligations, e.g., repay loans from Treasury.

Non-Entity Assets.  These are assets that are held by an entity but are not available to the entity.  An example of non-entity assets are income tax receivables, which the IRS collects for the U.S.

government but has no authority to spend.

Intragovernmental Assets.  These assets arise from transactions among Federal entities.   These assets are claims of a Federal entity against other Federal entities.  Report “intragovernmental”

assets separately from assets that arise from transactions of the Federal Government or an entity

of the Federal Government with non-federal entities, the Federal Reserve and Government-

Sponsored Enterprises.  The term "non-federal entity" encompasses domestic and foreign persons

and organizations outside the U. S. Government.

Fund Balances with Treasury.  The aggregate amount of the entity's accounts with Treasury for which the entity is authorized to make expenditures and pay liabilities.  This account includes

clearing account balances and the dollar equivalent of foreign currency account balances. 

Foreign currency account balances reported on the balance sheet shall be translated into U.S.

dollars at exchange rates determined by the Treasury and effective at the financial reporting date.  

To the extent that the reporting entity maintains fund balances in deposit, suspense, and clearing

accounts that are not available to finance the entity's activities, those balances should be reported

as non-entity assets.

Investments.  Investments in Federal securities shall be reported separately from investments in non-Federal securities.  Investments in Federal securities includes non-marketable par value

Treasury securities, market-based Treasury securities, marketable Treasury securities, and

securities issued by other Federal entities.  Non-Federal securities includes those issued by State

and local governments, private corporations, and government-sponsored enterprises. 

Investments are normally reported at acquisition cost or amortized acquisition cost (less an

allowance for losses, if any).   The components of investments, including the market value of

market-based and marketable Treasury securities, shall be disclosed.  See SFFAS No. 1 for

further information on investments in par value Treasury securities and in marketable and

market-based Treasury securities expected to be held to maturity.  

Accounts Receivable, Net.  Federal entity claims for payment from other entities.  Gross receivables shall be reduced to net realizable value by an allowance for doubtful accounts. 

Disclose the method(s) of calculating the allowance for doubtful accounts and the dollar amount

of the allowance.

Interest Receivable, Net.  Interest income earned but not received as of the reporting date.  Report interest receivable as a component of the appropriate asset accounts.  No interest shall be recognized as revenue on accounts receivable or investments that are determined to be

uncollectible until the interest is actually collected.  Accrued interest on uncollectible accounts

receivable and an offsetting allowance for uncollectible interest shall be disclosed.  

Interest receivable related to pre-1992 and post-1991 direct loans and acquired defaulted

guaranteed loans shall be reported as a component of credit program receivables and related

foreclosed property. 

Other Assets.  Reporting entities should disclose in the notes advances and prepayments and the amount and nature of other major categories of "Other" assets. 

Advances are cash outlays made by a Federal entity to its employees, contractors, grantees or

others to cover a part or all of the recipients' anticipated expenses or as advance payments for the

costs of goods and services the entity receives.  Prepayments are payments made by a Federal

entity to cover certain periodic expenses before those expenses are incurred.  Progress payments

on work in process are not to be included in advances and prepayments. 

Credit Program Receivables and Related Foreclosed Property, Net.  The net value of credit program receivables and related foreclosed property are considered an entity asset if the entity

has the authority to determine the use of the funds collected or if the entity is legally obligated to

use the funds to meet entity obligations, e. g., loans payable to Treasury.

Receivable from Borrowings.  When a loan guarantee program, which is generating negative subsidy, guarantees a loan and the lender has not disbursed the loan as of the balance sheet date,

no receivable from borrowings to be made in the subsequent year will be reported.  It is sufficient

to report the undelivered order which must be recorded to obligate the funds and which must be

disclosed as part of the total undelivered orders.

Negative Subsidies and Downward Re-estimates of Subsidy.  Special receipt accounts for negative subsidies and downward subsidy re-estimates are to be included in the credit reporting

entity’s financial statements.  Any assets in the accounts should be shown as non-entity assets

and should be offset by intra-governmental liabilities covered by budgetary resources.

Cash and Other Monetary Assets.  Cash resources and all other monetary assets.   Cash consists of: (i) coins, paper currency and readily negotiable instruments, such as money orders,

checks, and bank drafts on hand or in transit for deposit; (ii) amounts on demand deposit with

banks or other financial institutions; (iii) cash held in imprest funds; and, (iv) foreign currencies,

which, for accounting purposes, shall be translated into U.S. dollars at the exchange rate on the

financial statement date.  Other monetary assets include gold, special drawing rights, and U.S.

Reserves in the International Monetary Fund.  This category is principally for use by the

Treasury Department.  The amount of cash and other monetary assets that the reporting entity

holds and is authorized to spend is entity cash.  The cash and other monetary assets that a Federal

entity collects and holds on behalf of the U.S. government or other entities is non-entity cash and

other monetary assets.  The components of cash and other monetary assets shall be disclosed.

Inventory and related property, Net. 

	CATEGORY          		DESCRIPTION	

	Inventory                		Tangible personal property that is (i) held for sale, including raw    materials and work in process, (ii) in the

process of production for sale, or (iii) to be consumed in the

production of goods for sale or in the provision of services

for a fee. 

	Operating materials 	Tangible personal property to be consumed in normal 

	and supplies   		operations.                                           

	Stockpile materials      	Strategic and critical materials held due to statutory requirements for use in national defense, conservation or national emergencies. 

They are not held with the intent of selling in the ordinary course

of business.

	Seized property		Monetary instruments, real property, and tangible personal property of others, including illegal drugs, contraband, and

counterfeit items seized by authorized law enforcement agencies as

a consequence of various laws, in the actual or constructive

possession of a custodial agency.

	                         		Only seized monetary instruments shall be recognized as seized assets when seized (and a liability shall be reported in an amount

equal to the seized asset value).  Seized property other than

monetary instruments and additional information regarding seized

property shall be disclosed.

	Forfeited property		(i) Monetary instruments, intangible property, real property, and tangible personal property acquired  through forfeiture

proceedings; (ii) property acquired by the government to

satisfy a tax liability; and (iii) unclaimed and abandoned

merchandise. 

	Goods held under         	These goods are referred to as commodities.  Commodities 

	price support and		are items of commerce or trade having an exchange value.

 	stabilization programs	

General Property, Plant, and Equipment, Net.   SFFAS No. 6 defines general property, plant and equipment (PP&E) as any PP&E used in providing goods and services and provides

guidance for determining the cost of general PP&E acquired by purchase, capital leases,

donation, devise, judicial process, exchange, forfeiture, or transfers from other Federal entities.    

	General PP&E has one or more of the following characteristics:

	∙	It could be used for alternative purposes (e.g., by other Federal programs, State or local governments, or non-governmental entities) but is used to produce goods or services, or

to support the mission of the entity, or 

	∙	It is used in a significantly self-sustaining activity which finances its continuing cycle of operations through the collection of revenue (business-type activities), or

	∙	It is used by entities in activities whose costs can be compared to other entities performing similar activities. 

	For entities operating as business-type activities, all PP&E shall be categorized as general

PP&E whether or not it meets the definition of other PP&E categories (e.g., heritage assets).

	Land and land rights acquired for or in connection with general PP&E shall be included in

general PP&E.  

	The costs of software developed by employees of the entity are considered internally-

developed software costs.  These direct costs should be included in general PP&E or reported

separately if (1) the costs are intended primarily to be recovered through user charges and (2)

feasibility has been proven.

	The expense associated with the use of general PP&E is calculated through the systematic

and rational allocation of the cost, less its estimated salvage/residual value, over the

estimated useful life of the general PP&E. This expense, known as depreciation, shall be

recognized on all general PP&E, except land and land rights of unlimited duration.

	Federal mission PP&E, heritage assets, and stewardship land are categories of PP&E not

reported on the balance sheet with one exception.  Multi-use heritage assets are heritage

assets used in general government operations (e.g.,  buildings such as the Library of Congress

).  The costs of multi-use heritage assets are divided between heritage assets and general

PP&E according to the standards in SFFAS No. 6. 

LIABILITIES

	A liability is a probable future outflow or other sacrifice of resources as a result of past

transactions or events.  Financial statements shall recognize probable and measurable future

outflows or other sacrifices of resources arising from (1) past exchange transactions, (2)

government-related events, (3) government-acknowledged events, or (4) nonexchange

transactions that, according to current law and applicable policy, are unpaid amounts due as of

the reporting date.  SFFAS No. 5 describes the general principles governing the recognition of a

liability.  

	Liabilities shall be recognized when they are incurred regardless of whether they are covered

by available budgetary resources.  This includes liabilities related to appropriations canceled

under "M" account legislation.  

	Liabilities of Federal agencies are classified as liabilities covered or not covered by budgetary

resources.  These are both further divided into two sub-sections: intragovernmental and

governmental liabilities.  These terms are defined below and in SFFAS No. 1.

Liabilities Covered by Budgetary Resources.  Liabilities incurred which are covered by realized budgetary resources as of the balance sheet date.    Budgetary resources encompass not

only new budget authority but also other resources available to cover liabilities for specified

purposes in a given year. Available budgetary resources include: (1) new budget authority, (2)

spending authority from offsetting collections (credited to an appropriation or fund account), (3)

recoveries of unexpired budget authority through downward adjustments of prior year

obligations, (4) unobligated balances of budgetary resources at the beginning of the year or net

transfers of prior year balances during the year, and (5) permanent indefinite appropriations or borrowing authority, which have been enacted and signed into law as of the balance sheet date,

provided that the resources may be apportioned by OMB without further action by the Congress

or without a contingency having to be met first.  

Liabilities Not Covered by Budgetary Resources.  This category is for liabilities which are not considered to be covered by budgetary resources, as provided in the previous paragraph. 

Intragovernmental Liabilities.  These liabilities are claims against the entity by other Federal entities.  Report intragovernmental liabilities separately from claims against the reporting entity

by non-federal entities, the Federal Reserve and Government-Sponsored Enterprises. 

Accounts Payable.  The amounts owed by the reporting entity for goods and services received from, progress in contract performance made by, and rents due to other entities.  

Interest Payable.  Interest incurred but unpaid on liabilities of the reporting entity.  Report interest payable as a component of the appropriate liability accounts.

Debt.  Amounts borrowed from the Treasury, the Federal Financing Bank, other Federal agencies, or the public under general or special financing authority (e.g., Treasury bills, notes,

bonds and FHA debentures).  The components of debt shall be disclosed.    

Liabilities for Loan Guarantees.  For post-1991 loan guarantees, the present value of the estimated net cash flows to be paid as a result of loan guarantees.  For pre-1992 loan guarantees,

the amount of known and estimated losses to be payable.

Negative Allowance for Subsidy and Loan Guarantee Liability.  When the total loan guarantee liability for all credit programs of a reporting entity is negative, it should be reported

as an asset.  If a loan guarantee liability is the result of both positive and negative amounts for the

various components, the total will be shown as a liability, and negative components disclosed.

Lease Liabilities.  This item represents the liability for capital leases.  Report the lease liability as a component of the “Other Liabilities” line item on the balance sheet and disclose the components of and other information about the capital lease liability in a separate footnote (See

Note 12).   According to OMB Circular A-11, "Preparation and Submission of Budget Estimates," capital leases entered into during FY 1992 and thereafter are required to be fully funded in the first year of the lease.   

Federal Employee and Veterans’ Benefits.  Entities that are responsible for accounting for pensions, other retirement benefits, and other post-employment benefits should calculate and

report these liabilities and related expenses in accordance with SFFAS No. 5.    Federal employee

and veterans’ benefits include the actuarial portion of these benefits.  It does not include liabilities related to ongoing continuous expenses such as employees’ accrued salary, accrued annual leave, the unpaid portion of employee benefits, and other benefits that are currently due,

which are reported in the “Other liabilities” line item. The portion of the liabilities covered by budgetary resources, i.e., the amount for which assets are available to pay benefits, shall be

reported separately from the amount for which budgetary resources are not available.  Disclose

the liabilities, assumptions used, and the components of expense for the period for pensions,

other retirement benefits, and other post-employment benefits.

Insurance Liabilities.  Report insurance liabilities as a component of the “Other Liabilities” line item on the balance sheet and disclose insurance liabilities in a separate footnote (See Note 14). Entities with Federal insurance and guarantee programs except social insurance and loan

guarantee programs shall recognize a liability for unpaid claims incurred, resulting from insured

events that have occurred as of the reporting date.  The amount recognized is the liability known

with certainty plus an accrual for a contingent liability recognized when an existing  condition,

situation, or set of circumstances involving uncertainty as to possible loss exists and the

uncertainty shall ultimately be resolved when one or more future events occur or fail to occur, a

future outflow or other sacrifice of resources is probable, and the future outflow or sacrifice of

resources is measurable.  Life insurance programs shall recognize a liability for future policy

benefits in addition to the liability for unpaid claims incurred. 

Other Liabilities.   This item covers liabilities that are not recognized in specific categories.  This includes (but is not limited to): capital leases, insurance, advances and prepayments for

goods to be delivered or services to be performed, deposit fund amounts held in escrow,

liabilities related to ongoing continuous expenses such as employees' salary and benefits, accrued

entitlement benefits, and accrued employee annual leave.  Also included are amounts payable by

the Federal entity for benefits, goods or services provided under the terms of a program, as of the Federal entity’s reporting date, whether or not such amounts have been reported to the Federal

entity (e.g., estimated payments due to health providers for services that have been rendered and

that will be financed by the Federal entity but have not yet been reported to the Federal entity). 

This item also covers estimated losses for claims or other contingencies if (1) a past event or

exchange transaction has occurred (e.g., a Federal entity has breached a contract with a non-

Federal entity) as of the date of the statements, (2) a future outflow or other sacrifice of resources

is probable, and (3) the future outflow or sacrifice of resources is measurable (i.e., the amount

can be reasonably estimated).  Do not include environmental cleanup costs which should be

reported as “Environmental Liabilities.”    

Examples of claims or other contingencies include: (1)  Indemnity Agreements --

reimbursements due to licensees or contractors for losses incurred in support of Federal

activities; (2)  Adjudicated Claims -- claims against the Federal Government that are in the

process of judicial proceedings; (3)  Commitments to International Institutions -- payments due

to international financial institutions, and (4)  Cleanup costs -- costs of removing, containing,

and/or disposing of (1) hazardous waste from property or (2) material and/or property that

consists of hazardous waste at permanent or temporary closure or shutdown of associated PP&E. 

Separate reporting of items within other liabilities is appropriate if the amounts are material. 

Environmental Cleanup Costs.  SFFAS No. 5 provides criteria for recognizing a contingent liability and shall be applied to determine if cleanup costs should recognized as  liabilities and/or

disclosed in the notes.   SFFAS No. 6 supplements the liability standard by providing guidance

for recording cleanup costs related to general PP&E and stewardship assets used in Federal

operations.  The guidance applies to cleanup costs from Federal operations known to result in

hazardous waste which the Federal Government is required by Federal, State and/or local statutes

and/or regulations to cleanup.  Depending on the materiality of the amount, the liability for

cleanup costs may be displayed separately or included with other liabilities.  The footnote

disclosures required for liabilities associated with cleanup costs are also described in SFFAS No.

6.

NET POSITION

	The components of net position are classified as follows:

Unexpended Appropriations.  This amount includes the portion of the entity's appropriations represented by undelivered orders and unobligated balances.  The amounts of unobligated

balances available and unavailable shall be disclosed.   

Cumulative Results of Operations.  The net results of operations since inception plus the cumulative amount of prior period adjustments.  Beginning in FY 1998, this will include the

cumulative amount of donations and transfers of assets in and out without reimbursement.  In

addition, there will no longer be a segregation of cumulative amounts related to investments in

capitalized assets, such as PP&E, or pre-credit reform loans, or a separate negative amount

shown for future funding requirements.  These amounts shall be included in cumulative results of

operations.

Department/Agency

CONSOLIDATING STATEMENT OF NET COST

For the year ended September 30,

(in dollars/thousands/millions)

				Suborgani-	Suborgani-	Suborgani-	Combined	Intra-agency	Consolidated	    			 		zation A	zation B	zation C		Total		Eliminations	Total

COSTS:									(Note)

Crosscutting Programs

    Program A:

	Intragovernmental	 $ xxx		$    --       	$xxx	   	  $xxx 	 	$xxx	       	$xxx

	With the public		    xxx		      --		  -----	   	     xxx	 	  xxx 	         	 xxx

		Total		    xxx  		      --		  xxx  	 	    xxx	  	   xxx	         	 xxx

  	Less earned revenues	    (xx)		      --	 	  (xx)  		  ( xxx)   	   (xx)	             ( xxx)

	Net program costs	 $ xxx 		      --		$xxx 	  	   $xxx 		$ xxx 	       	$xxx

Other Programs  (Note xx )

    Program B:			     --		     xxx	     	    --		      xxx 		   xxx 	        	 xxx		

    Program C:    		     	     --  	      	     xxx	     	    --	       	      xxx	      	    xxx 	         	 xxx

    Program D:            	      	   xxx		     xxx	     	    --  		      xxx 		    xxx	        	 xxx

    Program E:			     --	     	        --		   xxx           	      xxx	     	    xxx	         	 xxx

    Program F:			     --		        --		   xxx	    	      xxx		    xxx	         	 xxx

    Other programs		     --	  	        --	 	   xxx		      xxx		    xxx	         	 xxx

       Total Other Program Costs	$xxx		$   xxx		 $xxx 		    $xxx		 $ xxx	        	$xxx

Cost not assigned to programs   	  xxx		     xxx	 	   xxx		       ..      	    xxx	         	 xxx

 Less earned revenues not 

    attributed to programs	   	 ( xxx) 		  ( xxx)	    	  ------ 		   (xxx)	    	  (xxx)          	(xxx)

DEFERRED MAINTENANCE  (Note)

NET COST OF OPERATIONS	   $xxx		   $xxx	  	 $xxx     	 $xxx 		 $xxx 	     	 $xxx

_________________________________	______________________________________________________________

	The accompanying notes are an integral part of these statements.

	Instructions for the Statement of Net Cost

	The Statement of Net Cost is designed to show separately the components of the net cost of the reporting entity's operations for the period. However, the organizational structure and

operations of some entities are so complex that to fully display their suborganizations’ major

programs and activities may require supporting schedules to supplement the information in the

Statement of Net Cost.  The supporting schedules shall be included in the notes to the financial

statements.

	Net cost of operations is the gross cost incurred by the reporting entity less any exchange revenue earned from its activities.  The gross cost of a program consists of the full cost of the

outputs produced by that program plus any non-production costs that can be assigned to the

program (non-production costs are costs linked to events other than the production of goods and

services).  The net cost of a program consists of gross cost less related exchange revenues.  By

disclosing the gross and net cost of the entity's programs, the Statement of Net Cost provides

information that can be related to the outputs and outcomes of the programs and activities.

	The Statement of Net Cost and related supporting schedules classify revenue and cost

information by suborganization or responsibility segment and, to the extent practicable, within

each classification by major program.  (Suborganizations are considered to be generally

equivalent to responsibility segments.)

	Preparers of the Statement of Net Cost should decide the exact classification of

suborganizations and major programs based on the missions and outputs described in its GPRA

strategic and annual plans, the entity’s budget structure, and the guidance for defining and

structuring responsibility segments presented in SFFAS No. 4. 

	The Statement of Net Cost and related supporting schedules should show the net cost of

operations for the reporting entity as a whole and its suborganizations and programs.  This can be

accomplished by reporting by program (1) the gross cost of goods and services provided to the

public and government agencies (intragovernmental) at a price, (2) related exchange revenues,

(3) the excess of costs over exchange revenues (net program costs) and (4) the gross cost of

goods, services, transfers and grants provided to the public and government agencies without

charge, and by reporting for the suborganization or entity as a whole the costs that cannot be

assigned to specific outputs or programs and the exchange revenues that cannot be attributed to

specific outputs or programs.

	The Statement of Net Cost illustrated in this document provides an example of how

information can be displayed for an entity with a complex organizational and program structure,

a limited number of  programs carried out by more than one suborganization, and the majority of

its programs carried out within a specific suborganization or responsibility segment.  At a

minimum, reporting entities should define and establish responsibility segments for cost

accumulation and reporting and report the full cost assigned to each responsibility segment.  Reporting entities preparing a combined statement of financing should include a “Combined Total” column in the statement of net cost.  The combined statement of financing or schedule,

containing the same information, presented in the notes should reconcile to the combined total net cost of operations.  Include a note reference to the “Combined Total” column alerting statement users that the combined statement of financing or equivalent schedule does not include

intra-entity eliminations.

Program Costs.  These costs include the full costs of the program outputs and consist of the direct costs and all other costs that can be directly traced, assigned on a cause and effect basis, or

reasonably allocated to the program outputs.  Program costs also include any non-production

costs that can be assigned to the program but not to its outputs. The costs of program outputs

shall include the costs of services provided by other entities whether or not the providing entity is

fully reimbursed.  See SFFAS No. 4 for a detailed discussion of full costs and inter-entity costs.

The costs of program outputs shall also include costs that are paid in total or in part by other

entities to the extent that accounting standards require them to be recognized in financial

statements.  For fiscal years 1998 and 1999, employer entities shall recognize inter-entity costs

only for pensions, other retirement benefit, other post-employment benefits, and losses in

litigation proceedings in accordance with OMB memorandum “Technical Guidance for the

Implementation of Managerial Cost Accounting Standards for the Federal Government” dated

April 6, 1998.  See SFFAS No. 5 for further details on the amounts to recognize.  

Costs related to the production of goods and services provided to other programs shall be

reported separately from the costs of goods, services, transfers, and grants provided to the public. 

The former costs are labeled “governmental” on the illustrative statement and schedules; the

latter are labeled “public.”

Costs related to the production of outputs shall be reported separately from costs that are not

related to the production of outputs (i.e., non-production costs).  In addition, the non-production

costs listed below shall be reported separately from other non-production costs, if incurred:

∙	The cost of acquiring, constructing, improving, reconstructing, or renovating Federal mission PP&E

∙	The cost of acquiring, constructing, improving, reconstructing, or renovating heritage assets

∙	The acquisition cost of acquiring stewardship land

	Agencies should consider differentiating other significant costs if by doing so the usefulness

of the statements would be improved either because the amount of a particular cost is large or

because of its special nature.  For example, when reporting on a program that makes transfer

payments, it may be useful to differentiate between the transfer payments and administrative

costs.  

Earned Revenues.  These revenues are exchange revenues, which arise when a Federal entity provides goods and services to the public or to another government entity for a price.  The full

amount of exchange revenues is to be reported on the Statement of Net Cost or supplementary

schedule, regardless of whether the entity is permitted to retain the revenues in whole or in part. 

Any portion of exchange revenues of the entity which cannot be retained by the entity is reported

as a transfer-out on the statement of changes in net position.  See SFFAS No. 7 for information on exchange revenues.  

Earned revenues should be deducted from the full cost of outputs or outcomes to determine their

net cost unless it is not practical or reasonably possible to do so.  If that cannot be done, earned

revenue should be deducted from the gross cost of programs to determine the net program costs

or, if that is not practical or reasonably possible, from the costs of suborganizations to determine

the suborganization's net cost of operations.  There are no precise guidelines to determine the

degree to which earned revenue can reasonably be attributed to outputs, outcomes, programs, or

suborganizations.  The attribution of earned revenues requires the exercise of managerial

judgment. In exercising this judgment, it is important to provide readers of the Statement of Net

Cost with the ability to ascertain whether exchange revenues are sufficient to cover the costs

incurred to produce the goods or services involved. 

Net Program Costs.  This is the difference between a program's gross costs and its related exchange revenues.    If a program does not earn any exchange revenue, there is no netting and

the term used might be “total program costs.”

Costs Not Assigned to Programs.  A reporting entity and its suborganizations may incur (a) high level general management and administrative support costs that cannot be directly traced,

assigned on a cause-and-effect basis, or reasonably allocated to segments and their outputs and

(b) non-production costs that cannot be assigned to a particular program.  These costs are part of

the entity and suborganization costs and should be reported on the Statement of Net Cost as

"costs not assigned to programs."  

Earned Revenues Not Attributed to Programs.  Earned revenue that is insignificant or cannot be attributed to particular outputs or programs should be reported separately as a deduction in

arriving at net cost of operations of the suborganization or reporting entity as a whole.  

Deferred Maintenance.  Deferred maintenance is maintenance that was not performed when it should have been or was scheduled to be performed and that is delayed until a future period. 

Maintenance includes preventative maintenance, normal repairs, replacement of parts and

structural components, and other activities needed to preserve the asset so that it continues to

provide acceptable services and achieves its expected life.  No amount shall be recognized on the statement of net cost for deferred maintenance.  However, the statement shall include a note

reference in lieu of a dollar amount.

Net Cost of Operations.  This is the gross cost incurred by the reporting entity less any exchange revenue earned from its activities.  This amount represents the net cost of a suborganization or entity that is funded by sources other than exchange revenues.  The financing

sources for net cost of operations are reported on the Statement of Changes in Net Position. 

	Preparers are encouraged to consult the non-authoritative Implementation Guide to SFFAS No. 7, Accounting for Revenue and Other Financing Sources, which FASAB issued in conjunction with SFFAS No. 7, for illustrations and explanations designed to assist in

understanding and applying the standards for classifying, recognizing, and measuring inflows of

resources to the Federal Government and its component reporting entities.

Department/Agency/Reporting Entity

CONSOLIDATING STATEMENT OF CHANGES IN NET POSITION

For the year ended September 30

(in dollars/thousands/millions)

		                                                                     			            			Intra- 

                                     		            		Sub-         	Sub-      	Sub-     	agency  	Consol-

                                                 				organi-    	organi-    	organi- 	elimin- 	idated 

                                                 				zation A  	zation B   	zation C	ations   	totals

Net Cost of Operations                           			$ (xxx) 	$( xxx)	$ (xxx) 	$ (xxx)   	$(xxx)

Financing Sources (other than exchange revenues):                  

   Appropriations Used                             			    xxx        	    xxx        	    xxx        	    xxx      	   xxx

   Taxes (and other non-exchange revenues) 		         	    xxx        	    xxx        	    xxx        	    xxx      	   xxx

   Donations (non-exchange revenue)                 		    xxx  	    xxx        	    xxx        	    xxx     	   xxx

   Imputed financing                               			    xxx		    xxx        	    xxx		    xxx  	   xxx

   Transfers-in                                     			    xxx 	    xxx		    xxx    	    xxx		   xxx

   Transfers-out                                  			 	  (xxx)  	   (xxx)  	   (xxx)    	   (xxx) 	  (xxx) 

Net Results of Operations                          			    xxx 	    xxx		    xxx    	    xxx      	   xxx  

Prior Period Adjustments                            			    xxx        	    xxx        	    xxx		    xxx      	   xxx   

Net Change in Cumulative Results of Operations      	    xxx        	    xxx      	    xxx      	    xxx     	   xxx

Increase (Decrease) in Unexpended Appropriations    	    xxx        	    xxx       	    xxx        	    xxx      	   xxx

Change in Net Position                              			  $xxx        	  $xxx       	  $xxx        	  $xxx     	   xxx

Net Position-Beginning of Period                   		    							    	   xxx

Net Position-End of Period					 		        	   				   	 $xxx 

_______________________	________________________________________________________________  

	The accompanying notes are an integral part of these statements.

	Instructions for the Statement of Changes in Net Position

	The Statement of Changes in Net Position reports the beginning net position, the items which

caused net position to change during the reporting period, and the ending net position.  The entity

should display information on the Statement of Changes in Net Position organized by

responsibility segment, component, or otherwise in the same manner as was done for the

Statement of Net Cost.

Net Cost of Operations.  This is the net cost of operations reported on the Statement of Net Cost.

Financing Sources.

	Appropriations Used.  Appropriations are considered used as a financing source when goods and services are received, or benefits are provided, under authority of the

appropriations.  This is true whether the goods, services, and benefits are paid prior to the

reporting date or are payable as of that date, and whether the appropriations are used for

items which are recorded as expenses or are capitalized.  In order to avoid double counting,

appropriations used do not include dedicated tax receipts  and donations because these

sources are reported as non-exchange revenues.  In addition, appropriations used by

collecting entities to provide refunds of monies deposited to Treasury or the trust funds or to

repay debt are also excluded because they do not provide budgetary authority. 

	Taxes and Other Non-exchange Revenues.  Revenues the Federal Government is able to demand or receive due to its sovereign powers.  See SFFAS No. 7 for a discussion of the

recognition and measurement criteria for taxes and other non-exchange revenues. 

	Donations.  Voluntary gifts of resources to the Federal Government by non-Federal entities.  Donations may be financial resources, such as cash or securities, or non-financial resources

such as land or buildings.  The amount of revenue arising from donations of non-financial

resources shall be recognized in accordance with criteria in SFFAS No. 6 and should be

valued at estimated fair value at the time of the contribution.

	Imputed Financing.  Imputed financing equals the amount of imputed costs included in amounts reported on the Statement of Net Cost.  

	Transfers-in.  An intragovernmental transfer of cash or capitalized assets without reimbursement shall be recognized by the receiving entity as a transfer-in.  The amount

recognized shall be the transferring entity's book value.  If book value is not known, the

amount recognized should be the asset's estimated fair value at the date of the transfer.

	Transfers-out.  An intragovernmental transfer of cash or capitalized assets without reimbursement shall be recognized by the transferring entity as a transfer-out.  The amount

recognized should be the transferring entity's book value.  If book value is not known, then

the amount recognized should be the asset's estimated fair value at the date of the transfer. 

To the extent that exchange revenue included in calculating an entity's net cost of operations

is required to be transferred to the Treasury or another Federal entity, the amount transferred

shall be recognized as a transfer-out.  

Prior Period Adjustments.  Prior period adjustments are limited to corrections of errors and accounting changes with retroactive effect that can either increase or decrease net position

depending on their nature, including those occasioned by the adoption of new Federal financial

accounting standards.  Adjustments are included in the calculation of the net change in

cumulative results of operations, rather than as an element of net results of operations for the

period.  Prior period financial statements should not be restated for prior period adjustments. 

Increase (Decrease) in Unexpended Appropriations.  The change from the beginning of the period in the amount of appropriations that have been made available but have not been used.

Net Position-Beginning of Period.  The amount is the net position reported on the prior year's balance sheet.

Net Position - End of Period.  This amount shall agree with the amount reported as net position on the current year's balance sheet.

Department/Agency/Reporting Entity

COMBINING STATEMENT OF BUDGETARY RESOURCES (NOTE)

For the year ended September 30, 

(in dollars/thousands/millions)				

									Major		Major	Major		Other

									Budgetary	Budgetary	Budgetary	Budgetary	Combined

Budgetary Resources:						Account    	Account	Account	Accounts	Total

Budget authority (line 1)					$ xxx		$ xxx		$xxx		$xxx		$xxx

Unobligated balances - beginning of period (line 2A)		   xxx		   xxx		  xxx		  xxx		  xxx

Net transfers prior-year balance, actual (+/-) (line 2B)		   xxx		   xxx		  xxx		  xxx		  xxx

Spending authority from offsetting collections (line 3)		   xxx		   xxx		  xxx		  xxx		  xxx

Adjustments (lines 4-6)				    		   xxx   		   xxx		  xxx 		  xxx		  xxx

Total budgetary resources (line 7)		          		$ xxx  		$ xxx		$xxx		$xxx		$xxx

Status of Budgetary Resources:

Obligations incurred (line 8)				 	$ xxx		$ xxx		$xxx		$xxx		$xxx

Unobligated balances-available (line 9)   	        		   xxx		   xxx		  xxx		  xxx		  xxx

Unobligated balances-not available (line 10)	     		   xxx		   xxx		  xxx		  xxx		  xxx

Total, status of budgetary resources (line 11)			$ xxx		$ xxx		$xxx		$xxx		$xxx

Outlays:

Obligations incurred (line 8)					$ xxx		$ xxx		$ xxx		$ xxx		$xxx

Less: spending authority from offsetting 

        collections and adjustments  (lines 3A, B, D, & 4A)	 (xxx)		  (xxx)		  (xxx)		 (xxx)		 (xxx)

Subtotal							  xxx		   xxx		   xxx		  xxx		  xxx

Obligated balance, net - beginning of period (line 12)		  xxx		   xxx		   xxx		  xxx		  xxx

Obligated balance transferred, net (line 13)	               	  xxx		   xxx		   xxx		  xxx		  xxx	

Less: obligated balance, net - end of period (line 14)              	(xxx)		  (xxx)		  (xxx)		 (xxx)		 (xxx)

Total outlays (line 15)					             $xxx		$ xxx		$ xxx		$ xxx		$ xxx

_____________________________________________________________________________________________________________

	The accompanying notes are an integral part of these statements.

	Instructions for the Statement of Budgetary Resources

	The Statement of Budgetary Resources and the related disclosures provide information about

how budgetary resources were made available as well as their status at the end of the period. 

This statement should be prepared by reporting entities whose financing comes wholly or

partially from budgetary resources. Monitoring of budget execution is at the individual account

level.  Accordingly, budgetary information aggregated for the Statement of Budgetary Resources

should be disaggregated for each of the reporting entity's major budget accounts and presented as

supplementary information.  Small budget accounts may be aggregated. 

	Recognition and measurement of budgetary information reported on this statement should be

based on budget terminology, definitions, and guidance in OMB Circular A-34, "Instructions on

Budget Execution," dated December 26, 1995.  That Circular defines the terms shown in this

statement.  The statement illustrates in condensed form the information that Circular A-34

requires to be reported on the Report on Budget Execution (SF-133).  For purposes of illustration

only, the statement shown in this bulletin includes the corresponding line numbers from the SF-

133.  If OMB's concepts and definitions are revised in the future, the classification and

recognition of the appropriate amounts will change accordingly.

	A consolidating statement of budgetary resources is preferred but not required for fiscal years

1998 and 1999.   Instead, reporting entities may prepare a combining statement.  Reporting

entities that prepare a combining statement must disclose in a note that the statement is

combining and, as such, intra-entity transactions have not been eliminated.  Also, the statement

must be properly titled “consolidating” or “combining,” as appropriate.

Budgetary Resources.  This section of the statement is designed to present the total budgetary resources available to the reporting entity.  These include new budget authority, obligation

limitations, direct spending authority, unobligated balances at the beginning of the period or

transferred in during the period, spending authority from offsetting collections, and any

adjustments to budgetary resources.    

Status of Budgetary Resources.  This section of the statement is designed to display information about the status of budgetary resources at the end of the period.  It consists of the

obligations incurred, the unobligated balances at the end of the period that remain available, and

unobligated balances at the end of the period that are unavailable except to adjust or liquidate

obligations chargeable to prior period appropriations.  The total amount displayed for the status

of budgetary resources shall equal the total budgetary resources available to the reporting entity

as of the reporting date.

Outlays.  This section of the statement displays total outlays and reconciles obligations incurred to total outlays by displaying spending authority from offsetting collections, obligated balances

at the beginning of the period, obligated balances transferred, and obligated balances at the end

of the period.  

Department/agency

Reporting entity

COMBINED (CONSOLIDATED) STATEMENT OF FINANCING

For the year ended September 30, XXXX

(in dollars/thousands/millions)

Obligations and Nonbudgetary Resources

  Obligations incurred						$ xxx

  Less:  Spending authority for offsetting 

	collections and adjustments	  			   xxx

  Donations not in the budget      			  	   xxx

  Financing imputed for cost subsidies		       	   xxx

  Transfers-in (out)						   xxx

 Exchange revenue not in the budget				   xxx

  Other							   xxx

    Total obligations as adjusted, and

       nonbudgetary resources					$ xxx

Resources That Do Not Fund Net Cost of Operations

  Change in amount of goods, services, and 

  	benefits ordered but not yet 

	received or provided					 (xxx)

  Costs capitalized on the balance sheet	     		 (xxx)

  Financing sources that fund costs of

     prior periods  				 		 (xxx)

  Other							 (xxx)

      Total resources that do not fund 

	    net cost of operations				      	  (xxx)

Costs That Do Not Require Resources

  Depreciation and amortization				  xxx

  Revaluation of assets and liabilities		       		  xxx

  Other							  xxx

      Total costs that do not require resources			  xxx

Financing Sources Yet to be Provided			  xxx

Net Cost of Operations					$ xxx

	 _______________________________________________________________

	The accompanying notes are an integral part of these statements.

	Instructions for the Statement of Financing

	Accrual-based measures used in the Statement of Net Cost differ from the obligation-based

measures used in the Statement of Budgetary Resources.  In order to understand these

differences, information is needed to reconcile financial (proprietary) net cost of operations with

obligations of budget authority.  This reconciliation also insures that there is a proper relationship

between proprietary and budgetary accounts in the reporting entity's financial management

system.  The Statement of Financing is designed to report those differences and facilitate the

reconciliation.  

	Preparers of financial statements have flexibility as to the level of detail presented, i.e., the

information should be presented for the reporting entity as a whole and, if the preparer elects, for

the major suborganizations or responsibility segments or for the major budget accounts (e.g.,

Salary and Expense, Operations and Maintenance, Procurement, etc.). 

	Preparers of financial statements should refer to the Implementation Guide issued in conjunction with SFFAS No. 7 for detailed, non-authoritative guidance useful in preparing the

Statement of Financing.  Note should be made of chapter 5 on special topics regarding the

Statement of Financing.

Obligations and Nonbudgetary Resources.  The obligations and nonbudgetary resources section reports the computation of "Obligations Incurred" and adjustments for offsetting

collections to expenditure accounts, recoveries of authority, and other items defined in OMB

Circular A-34.  It also reports financing that is not recognized in the entity's budget.  Financing

sources other than exchange revenues which are not in the budget are added to obligations

because they provide additional resources.  Exchange revenues not in the budget are subtracted

from obligations because they were subtracted from gross costs in the computation for net cost of

operations.

Resources that do not Fund Net Costs of Operations.  Some obligations or nonbudgetary financing sources do not result in expenses on the Statement of Net Cost for the period in which

the obligation was made or the nonbudgetary resource recognized.  Resources that do not fund

net costs of operations commonly arise from three sources.  One source is the change in goods,

services, and benefits ordered but not yet received or provided.  Another source is any good or

service capitalized on the Balance Sheet.  The third source is any item that is treated as a

financing source yet to be provided in a prior period and that is being recognized as a budgetary

resource in the current period.  Because these items are included in obligations, as adjusted, and

nonbudgetary financing sources, but not in the net cost of operations, they shall be subtracted in

the reconciliation.

Costs that do not Require Resources.  These are costs which do not require financing by either budgetary or nonbudgetary resources.  Although there may be many expenses of this type, two of

the most common are (1) depreciation and (2) expenses related to the revaluation of assets. 

Because these items are part of the net cost of operations but are not included in obligations, as

adjusted, and nonbudgetary resources, they should be added in the reconciliation.  As a practical

matter, it may not always be feasible to report this information separately as displayed in the

illustrated Statement of Financing.  In situations where it is not feasible to separately report all of the information illustrated in the statement, "netting" is permitted and the entire amount may be

reported under the caption "Costs that do not Require Resources."

Financing Sources Yet to be Provided.  The costs of the Federal Government are not always funded in the period the costs are incurred.  The example most common to agencies funded only

by appropriations is the cost of increases in unused annual leave.  Costs of this nature are

incurred in the reporting period, but are normally funded through appropriations in subsequent

years.  Future funding required for these costs is reported as "financing sources yet to be

provided."  Because these costs are part of the net cost of operations but are not in obligations as

adjusted, and nonbudgetary resources, they should be added in the reconciliation.  Note that in a

subsequent year, when budgetary resources are provided, the costs are subtracted in the section

entitled "resources that do not fund net cost of operations."  

Net Cost of Operations.  This amount is determined by netting the "obligations as adjusted and nonbudgetary resources" and making appropriate adjustments for the total "resources that do not

fund net cost of operations,"  the total "costs that do not require resources," and "financing

sources yet to be provided."  The net cost of operations resulting from the reconciliation on the

Statement of Financing shall be the same as the net cost of operations reported on the Statement

of Net Cost.

	A consolidated statement of financing is preferred but not required for fiscal years 1998 and

1999.   Instead, reporting entities may prepare a combined statement or, as an alternative, present

the information required in the notes.  Reporting entities that prepare a combined statement or schedule must disclose in a note that the statement or schedule is combined and, as such, intra-

entity transactions have not been eliminated.  Also, the statement or schedule must be properly

titled “consolidated” or “combined,” as appropriate.

Department/Agency

Reporting Entity

STATEMENT OF CUSTODIAL ACTIVITY

For the years ended September 30

(in dollars/thousands/millions)

										19xx		19xx

Revenue Activity:

   Sources of Cash Collections:

  	Individual Income and FICA/SECA Taxes			$xxx		$xxx

  	Corporate Income Taxes						  xxx		  xxx

  	Excise Taxes							  xxx 		  xxx

  	Estate and Gift Taxes						  xxx		  xxx

  	Federal Unemployment Taxes  			 	 	  xxx		  xxx

  	Customs Duties							  xxx		  xxx

  	Miscellaneous				 			  xxx		  xxx

   Total Cash Collections  						  xxx		  xxx

   Accrual Adjustments (+/-)						  xxx		  xxx	

   Total Custodial Revenue						  xxx		  xxx	

   Disposition of Collections:

   Transferred to Others (by Recipient):

	Recipient A							 (xxx)		  (xxx)

	Recipient B							 (xxx)		  (xxx)

    	Recipient C							 (xxx)		  (xxx)

    (Increase) Decrease in Amounts Yet to be Transferred		 (xxx)		  (xxx)

   Refunds and Other Payments					 (xxx)		  (xxx)

   Retained by the Reporting Entity					 (xxx)		  (xxx)

   Net Custodial Revenue Activity					$ 0 		$   0 

	The accompanying notes are an integral part of these statements.

	Instructions for the Statement of Custodial Activity

	The Statement of Custodial Activity is required for entities that collect nonexchange revenue

for the General Fund of the Treasury, a trust fund, or other recipient entities.  The collecting

entities do not recognize collections which have been or should be transferred to others as

revenues.  Rather, they shall account for sources and disposition of the collections as custodial

activities on the Statement of Custodial Activity.

	An exception to requiring preparation of the Statement of Custodial Activity is made when

collecting entities have custodial collections that are non-material and incidental to their primary

mission.  In these cases, the sources and disposition of the collections may be disclosed in

accompanying footnotes.

	Custodial collections are usually for nonexchange revenues, such as taxes or duties collected by the Internal Revenue Service or the U.S. Customs Service.  Exchange revenue is normally

reported on the Statement of Net Cost.  It should be reported in a Statement of Custodial Activity

only under the exceptional circumstances in which the entity recognizes virtually no costs in

connection with earning revenue that it collects (see paragraph 45 of SFFAS No. 7).  Information

on the sections of the Statement of Custodial Activity are presented below.  Also see SFFAS No.

7 and the related implementation guide.

Sources of Collections.  Report in this section of the statement the components of cash collections, such as by  type of tax and duty, collection of past-due receivables for others, or

other appropriate identifier to describe the source and nature of the collections.  If refunds

material in relation to the gross collections are made, consideration should be given to reporting

them by component separately in a footnote.

This section of the report also includes the accrual adjustment, which shall be shown separately

and added or subtracted from the net collections to determine the total custodial revenue. 

Guidance for calculating the accrual adjustment can be found in SFFAS No. 7 and the related

implementation guide.  If the accrual adjustments are material in relation to the gross collections,

consideration should be given to reporting them separately in a footnote.

Disposition of Collections.  This section of the statement accounts for the disposition of the revenue reported in the preceding section.

	Amounts Transferred to Others.  Identify the specific agencies to which collections were transferred and the amounts transferred.

	Amounts Yet to be Transferred.  Report the change in liability for revenue yet to be transferred.  The liability may exist because the revenue has been accrued--and is receivable--

but has not yet been collected, or because collections already made have not yet been

transferred to the entity for which collected as of the end of the reporting period.

	Amounts Retained by the Collecting Entity.  In some cases, collecting entities are permitted to retain a portion of amounts collected.  Amounts retained shall be separately

reported by the collecting entity as a disposition of collections.

Net Custodial Activity.   The total of the sources of collection section (total revenue) shall equal the total of the disposition of collections section (total disposition of revenue).  The net custodial

activity shall always equal zero. 

	NOTES TO THE FINANCIAL STATEMENTS

The following footnotes and instructions include the disclosure requirements contained in the

SFFASs.

Note 1.  Significant Accounting Policies:

Describe the reporting entity and identify its major components.  Summarize the accounting

principles and methods of applying those principles that management has concluded are the most

appropriate for presenting fairly the entity's significant assets, liabilities, net cost of operations,

changes in net position, and budgetary resources.  Disclosure of accounting policies should

identify and describe the accounting principles followed by the reporting entity and the methods

of applying those principles.  In general, the disclosure should encompass important judgments

as to the valuation, recognition, and allocation of assets, liabilities, expenses, revenues and other

financing sources.  Disclosures of accounting policies should not duplicate details presented

elsewhere as part of the notes to the financial statements.

In addition, the summary of significant accounting policies should disclose any significant

changes in the composition of the reporting entity or significant changes in the manner in which

the reporting entity aggregates information for financial reporting purposes.  These changes, in

effect, result in a new reporting entity, and their impact should be reported by restating the

financial statements for all prior periods presented in order to show the new reporting entity for

all periods presented.  

Note 2.  Fund Balances with Treasury:

A.  Fund Balances:

						Entity  	Non-Entity      

					      	Assets  	Assets    	Total

	(1) Trust Funds  			 $ xx  		 $  xx	  	$  xx

	(2) Revolving Funds              	    xx        	     xx 		    xx

	(3) Appropriated Funds           	    xx        	     xx           	    xx

	(4) Other Fund Types          	    xx    	     xx        	    xx

		Total 				$  xx      	 $  xx	            $  xx

B.  Other Information: __________________________________________

	___________________________________________________________

	___________________________________________________________

	___________________________________________________________

Instructions.

A.	Fund Balances.  The total of all undisbursed account balances with the U.S. Treasury, as reflected in the entity's records and summarized by fund type.  Line (4), other fund types,

should include balances in deposit  accounts, such as for collections pending litigation,

awaiting determination of the proper accounting disposition, or being held by the entity in the

capacity of a banker or agent for others.  If any of the balances under other fund types are

material, list them separately.  

B.	Other Information.  Disclose any other information necessary for understanding the nature of the fund balances. 

Note 3.  Cash, Foreign Currency and Other Monetary Assets:

							 		Non-

									Entity	Entity

									Assets 	Assets

  A. Cash.                                         				$  xx	$  xx

  B. Foreign Currency                                 			    xx	xx

  C. Other Monetary Assets

    (1) Gold                                         				    xx	xx

    (2) Special Drawing Rights                 	      		    xx	xx

    (3) U.S. Reserves in the International Monetary Fund  	    xx	xx

    (4) Other                                        				    xx	xx

    (5) Total Other Monetary Assets                  		    xx 	xx

  D. Total Cash, Foreign Currency and Other

           Monetary Assets                         			   $  xx	$  xx

  E. Other Information:____________________________________________

	___________________________________________________________

	___________________________________________________________

Instructions.  Report the amount of Cash, Foreign Currency and Other Monetary Assets for entity and non-entity assets.

  A.	Cash.  The total of cash under the control of the reporting entity, which includes coin, paper currency, purchased foreign currency, negotiable instruments, and amounts on

deposit in banks and other financial institutions.  Cash available for agency use should

include petty cash  and cash held in revolving funds which will not be transferred to the

general fund.  

  B.	Foreign Currency.  The total U.S. dollar equivalent of non-purchased foreign currencies held in foreign currency fund accounts.  

  C.	Other Monetary Assets.  This amount represents other items, including gold, special drawing rights, and U.S. Reserves in the International Monetary Fund. 

  D.	Total Cash, Foreign Currency, and Other Monetary Assets. The sum of lines A, B, and C(5). 

  E.	Other Information.  Disclose as other information any restrictions on cash.  Restricted cash includes holdings which are unavailable for agency use (non-entity cash) and have

not been transferred to the general fund.  Restricted cash also includes cash held in

escrow to pay property taxes and insurance related to property associated with  defaulted

loans.  Disclose any restrictions on the use or conversion of cash denominated in foreign

currencies, and the significant effects, if any, of changes in the exchange rate on the

entity's financial position that occur after the end of the reporting period but before the

issuance of financial statements.  Provide other information, as appropriate, such as the

valuation rate for gold.

Note 4.  Investments:

					-------------Amounts for Balance Sheet Reporting----------			

					(1)	      (2)	 	  (3)	  	(4)		  (5)                   (6)

      								Unamortized					

						Amortization	(Premium)	Investments	Other 		Market Value

					Cost        Method		Discount	Net		Adjustments	Disclosure

A. Intragovernmental 

     Securities:

   (1) Marketable	 		$  xx	       ___	   $  xx	   $   xx	$   xx 		$    xx

   (2) Non-Marketable:

	    Par value               		    xx	       ___   	       xx     	        xx                xx        	      xx 

   (3) Non-Marketable:

	    Market-Based		    xx  	       ___  	       xx	        xx 	     xx		      xx	

   Subtotal            	   		 $ xx	        n/a	   $  xx	     $ xx	  $ xx		 $   xx

   (4) Accrued Interest			    xx									      xx

   Total				 $ xx									 $   xx	

B. Other Securities:

    (1) ____________________	 $  xx	       ___	       xx	   $   xx	 $   xx     	 $   xx  	

    (2) ____________________	     xx	       ___	       xx	        xx	      xx		      xx 

    (3) ____________________	     xx                	       xx	        xx	      xx		      xx	

Subtotal			            $   xx	         n/a	    $ xx	   $   xx	 $   xx		 $   xx 

    (4) Accrued Interest		$   xx									 $   xx

Total              				$   xx        								 $   xx

C. Other Information: ______________________________________________________________________

	__________________________________________________________________________________

Instructions.  Columns 1 through 4 are for disclosing amounts to be recognized on the balance sheet.  Column 4 equals column 1 plus or minus column 3, column 5 includes any reduction in value that is more than temporary and other adjustments, and column 6 equals column 4 minus column 5.  Securities are normally recognized at cost or amortized cost on the Balance Sheet.  However, market value is used for Balance Sheet purposes (except for pension and other retirement plans) when (a) there is intent to sell the securities prior to maturity and (b) there is a reduction in value that is more

than temporary.  Column 6 is to be used to disclose  the market value of all marketable securities

and all non-marketable market-based securities. 

A.	Intragovernmental Securities.  Intragovernmental securities are non-marketable par value Treasury securities issued by the Bureau of the Public Debt to Federal accounts and

are purchased and redeemed at par exclusively through Treasury's Finance and Funding

Branch.  Non-Marketable Market-Based Treasury Securities are not traded on any

securities exchange but mirror the prices of marketable securities with similar terms. 

B.	Other Information.  Disclose any other information relative to understanding the nature of reported investments, such as permanent impairments.

Note 5.  Accounts Receivable:  Present, for both entity and non-entity receivables, the gross receivables, the method used to estimate the allowance for uncollectible accounts, and the net

amount due.  Do not include receivables related to direct or guaranteed loans which are reported

in note 7.

Note 5a.  Taxes Receivable.  Disclose the gross taxes receivable, allowance for uncollectible taxes receivable and net taxes receivable.  Also, disclose the methodology used to compute the allowance for uncollectible taxes.

Note 6.  Other Assets: 

A.  Other Entity Assets

	1.  Intragovernmental

		(1)_________________________________________$   xx

		(2)_________________________________________     xx

		(3)_________________________________________     xx

	      Total Intragovernmental                    			  $    xx

	2. _______________________________________________$   xx

	3. _______________________________________________     xx

	4. _______________________________________________     xx

	      Total Other Entity Assets                    			 $    xx

B.  Other Information: ___________________________________________

	 _______________________________________________________

C.  Other Non-Entity Assets

	1.  Intragovernmental

		(1)_________________________________________$   xx

		(2)_________________________________________     xx

		(3)_________________________________________     xx

	     Total Intragovernmental                       			  $    xx

	2.  _______________________________________________$   xx

	3.  _______________________________________________     xx

	4.  _______________________________________________     xx

	      Total Other Non-Entity Assets            			   $   xx

D.  Other Information: ___________________________________________

	 _______________________________________________________

Instructions. 

A.	Other Entity Assets.  List and describe the major homogenous components of other entity assets.  

B.	Other Information.  Provide other information needed to understand the nature of other entity assets.

C.	Other Non-Entity Assets.  List and describe the major homogenous components of other non-entity assets.    

D.	Other Information.  Provide other information needed to understand the nature of other non-entity assets.

Note 7.  Direct Loans and Loan Guarantees, Non-Federal Borrowers:

A.	The entity operates the following direct loan and/or loan guarantee programs:

	(1)_______________________________________________________

	(2)_______________________________________________________

	(3)_______________________________________________________

	An analysis of loans receivable, loan guarantees, the liability for loan guarantees, and the

nature and amounts of the subsidy and administrative costs associated with the direct

loans and loan guarantees is provided in the following sections.

B1.	Direct Loans Obligated Prior to FY 1992 (Present Value Method):

											Value of	

											Assets 

                        	Loans                          		           Present       	Related to

           Loan             	Receivable,    Interest     	Foreclosed      Value         	Direct

	Programs	Gross             Receivable	Property          Allowance 	Loans     

    	(1)_______     $    xxx      	$    xxx    	$    xxx 	 ($  xxx)	 $    xxx  

	(2)_______           xxx     	      xxx  	      xxx 	 (    xxx)	       xxx  

             	Total 	      xxx	      xxx  	      xxx   	 (     xxx) 	       xxx  

B2.	Direct Loans Obligated Prior to FY 1992 (Allowance for Loss Method):

											Value of	

											Assets

                        	Loans                     		Allowance        	            Related to

           Loan             	Receivable,  	Interest     	For Loan          Foreclosed      Direct

	Programs	Gross           	Receivable	Losses        	 Property     	 Loans     

    	(1)_______     $    xxx      	$    xxx    	($   xxx) 	$    xxx	 $    xxx  

	(2)_______           xxx     	      xxx    	(     xxx)	      xxx	       xxx  

             	Total 	      xxx	      xxx    	(     xxx)	      xxx                  xxx  

C.	Direct Loans Obligated After FY 1991:								

                                                          	                    				 	 Value of

                                              	                  				Allowance for	 Assets

                      		Loans                                     			Subsidy Cost 	 Related to    

	Loan		Receivable, 	Interest 	Foreclosed	(Present       	 Direct

    	Programs     	Gross        	Receivable	Property	Value)         	 Loans    

	(1)_______     $    xxx      	$    xxx    	$    xxx 	($   xxx)	   $    xxx  

	(2)_______           xxx      	      xxx    	      xxx	(     xxx)	         xxx  

             	Total 	      xxx	      xxx   	      xxx      	(     xxx)     	         xxx  

D1.	Defaulted Guaranteed Loans from Pre-1992 Guarantees (Present Value Method):

 	                       Defaulted                                           			Defaulted

            	           Guaranteed                          		    Present        Guaranteed 

       Loan Guarantee   Loans Recei-   Interest        Foreclosed   Value           Loans

       Programs        	vable, Gross    Receivable   Property      Allowance    Receivable, Net 

       (1)__________      $    xxx   	$    xxx         $    xxx        ($  xxx)         $  xxx 

       (2)__________            xxx  	      xxx               xxx        (    xxx)             xxx  

             Total        	        xxx  	      xxx               xxx	     (    xxx)             xxx      

D2.	Defaulted Guaranteed Loans from Pre-1992 Guarantees (Allowance for Loss Method)

                      		Defaulted                                               			Defaulted

                       		Guaranteed                 	Allowance                    	Guaranteed 

       Loan Guarantee  	Loans Recei- 	 Interest     	For Loan     	 Foreclosed      Loans

       Programs        	vable, Gross 	 Receivable   	Losses       	 Property      	 Receivable, Net 

       (1)__________      $    xxx   	 $    xxx     	 ($  xxx)      	$    xxx         	 $  xxx 

       (2)__________            xxx  	       xxx     	 (    xxx)      	      xxx      	     xxx  

             Total       	        xxx  	       xxx	  (   xxx)       	      xxx       	     xxx      

E.	Defaulted Guaranteed Loans from Post-1991 Guarantees

											Value of

 											Assets

                     	            Defaulted      				   	Allowance for  Related to      

		 	Guaranteed                            			Subsidy     	 Defaulted  

                     	 	Loans                                 			Cost             	 Guaranteed

     Loan Guarantee     Receivable,  	 Interest    	Foreclosed  	(Present         	 Loans     

     Programs         	Gross        	 Receivable  	 Property  	 Value)         	 Receivable

     (1)__________    $    xxx      	$    xxx     	$    xxx   	 ($ xxx)   	    $   xxx

     (2)__________          xxx      	      xxx    	      xxx  	 (   xxx)	         xxx

             Total   	    xxx      	      xxx     	      xxx  	 (   xxx)         	         xxx

F.   Guaranteed Loans Outstanding:

					Outstanding           	Amount of

                        			Principal,              	Outstanding

                         			Guaranteed Loans,      Principal

	Loan Programs       		Face Value             	Guaranteed  

	(1)__________       		$   xx                   	$   xx

	(2)__________       		     xx 			     xx 

             Total		        		$   xx 	             	 $  xx

G1.	Liability for Loan Guarantees (Present Value Method, pre 1992):		     

			  		                       Liabilities for

                      			Liabilities for        	Loan Guarantees 	Total

                      			Losses on Pre-1992    for Post-1991      	Liabilities

                      			Guarantees,             	Guarantees,        	for Loan 

     Loan Programs       	Present Value          	Present Value     	Guarantees

	(1)__________	$    xx		            $  xx              		$   xx

	(2)__________      	      xx    	                xx       		     xx

		   Total     	$    xx  	            $  xx       		$   xx        

G2.	Liability for Loan Guarantees (Estimated Future Default Claims, pre 1992)

			  	                     			Liabilities for

            		          	Liabilities for			Loan Guarantees 	Total

                     			Losses on Pre-1992    	for Post-1991     	Liabilities

                      			Guarantees, Estimated 	Guarantees,        	for Loan 

     Loan Programs   		Future Default Claims 	 Present Value     	Guarantees

	(1)__________	       $    xx 			    $   xx 	             $   xx

	(2)__________        	             xx         		         xx	                  xx

		   Total         	       $    xx           		    $   xx 	             $   xx    

H.	Subsidy Expense for Post-1991 Direct Loans

	1.	Current Year's Direct Loans

            	    	Interest                               

	Loan       	 Differ-                                 

	Programs 	ential   	Defaults    	 Fees 	      Other 	   Total     

     	(1)______  	$  xx     	 $  xx     	$  (xx)       $  xx 	   $  xx 

	(2)______    	    xx 		     xx 		    (xx)           xx   	       xx

       		Total                                     					   $  xx

	2.	Direct Loan Modifications and Reestimates 

	Loan Programs	  Modifications     Reestimates	 	

     	(1)__________      	        $  xx              $  xx         

     	(2)__________         		xx                  xx       

	3.	Total Direct Loan Subsidy Expenses

	Loan Programs	   

     	(1)__________    $    xx 

     	(2)__________          xx 

            	 Total       $    xx

I.	Subsidy Expense for Post-1991 Loan Guarantees:

	1.         Current Year's Loan Guarantees 

							Interest    

	 Loan              	              		Supple-            

	Programs  	  Defaults  	  Fees 		 ment       	 Other    	 Total  

    	 (1)______   	  $   xx  	 $  (xx)  	  $   xx    	 $  xx    	 $   xx 

     	 (2)______             xx       	     (xx)     	       xx       	     xx    	      xx

         		Total    								 $   xx

	2.	Loan Guarantee Modifications and Reestimates 

	Loan Programs		Modifications	   Reestimates	

	(1)__________		$   xx  	    	    $   xx		

	(2)__________		     xx		         xx		

	3.	Total Loan Guarantee Subsidy Expense 

	Loan Programs	   

     	(1)__________    $    xx 

     	(2)__________          xx 

            	 Total	     $    xx

J.	Administrative Expense:

	Direct Loans					          Loan Guarantees

	Loan Programs 		    		          Loan Programs      

     	(1)__________    $    xx      			          (1)__________     $    xx

     	(2)__________          xx 			          (2)__________           xx  

            	 Total	    $     xx			  		 Total	    $    xx	

K.	Other Information:____________________________________________

	___________________________________________________________

	___________________________________________________________

	___________________________________________________________

Instructions.

A.	Identity.  Enter the names of the direct loan and loan guarantee programs operated by the reporting entity.  The Federal Credit Reform Act of 1990 divides direct loans and loan

guarantees into two groups: (a) Pre-1992 means the direct loan obligations or loan

guarantee commitments made prior to FY 1992 and the resulting direct loans or loan

guarantees, and (b) Post-1991 means the direct loan obligations or loan guarantee

commitments made after FY 1991 and the resulting direct loans or loan guarantees.  The

definitions and explanations of terms and concepts in these instructions can be

supplemented by referring to OMB Circular A-34, Section 12, and OMB Circular A-11,

Section 33. 

	Section 506(a)(1) of the Federal Credit Reform Act exempts the credit activities of

certain agencies, such as FDIC and TVA.  These agencies can report in accordance with

other requirements. 

	Agencies should disclose that direct loan obligations and loan guarantee commitments

made after FY 1991, and the resulting direct loans or loan guarantees, are governed by the

Federal Credit Reform Act of 1990.  The Act provides that the present value of the

subsidy costs (which arises from interest rate differentials, interest subsidies,

delinquencies and defaults, fee offsets, and other cash flows) associated with direct loans

and loan guarantees be recognized as a cost in the year the direct or guaranteed loan is

disbursed.  Direct loans are reported net of an allowance for subsidy at present value, and

loan guarantee liabilities are reported at present value.

	Agencies should also disclose whether pre-1992 direct loans and loan guarantees are

reported on a present value basis or are reported under the allowance for loss method. 

(Under the allowance for loss method, the nominal amount of the direct loans is reduced

by an allowance for uncollectible amounts, and the liability for loan guarantees is the

amount the agency estimates will more likely than not require a future cash outflow to

pay default claims; under the present value method, the nominal amount of direct loans is

reduced by an allowance equal to the difference between the nominal amount and the

present value of the expected net cash flows from the loans, and the liability for loan

guarantees is the present value of expected net cash outflows due to the loan guarantees.)  

Depending on the reporting method selected by management for pre-1992 direct loans

and loan guarantees, agencies should choose the appropriate format from the alternatives

shown in sections B, D, and G above.  (Note: Agencies should follow either the net

present value method or the allowance for loss method but not both.  They may not

change from one method to the other without the advance approval of OMB.)

	Agencies should disclose that their loans receivable, net, or their value of assets related to direct loans, is not the same as the proceeds that they would expect to receive from

selling their loans.

	When the reporting entity has made payments on behalf of borrowers which should be

collected from the borrowers, the resulting receivables shall be reported in the same

column as loans receivable for either direct loans or defaulted guaranteed loans.  Receivables related to administrative costs of operating these programs shall be reported

as accounts receivable in Note 5 and not as credit program receivables in this note. 

B.	Direct Loans Obligated Prior to FY 1992.  For each program with pre-1992 Direct Loans, report Loans Receivable Gross and Interest Receivable in columns 2 and 3

respectively.  If the present value method is used, report in column 4 the estimated net

realizable value of related foreclosed property and report in column 5 the present value

allowance.  The sum of columns 2 through 4 less column 5 is reported as Loans

Receivable, Net (column 6). If the allowance for loss method is used, report in column 4

the allowance for loan losses and in column 5  the estimated net realizable value of

related foreclosed property.  The sum of columns 2, 3, and 5 less column 4 is reported as

Loans Receivable, Net (column 6). 

C.	Direct Loans Obligated After FY 1991.  For each program with post-1991 Direct Loans, report Loans Receivable, Gross,  Interest Receivable and the estimated net

realizable value of related foreclosed property in columns 2, 3, and 4, respectively.  

	Foreclosed property associated with post-1991 direct and acquired defaulted guaranteed

loans shall be valued at the net present value of the projected cash flows associated with

the property. To practicably accomplish this requirement, foreclosed property may be

recorded at the estimated net realizable value at the time of foreclosure.  A portion of the

related allowance for subsidy account should apply to the foreclosed property, but that

amount need not be separately determined.  Rather, the allowance account is subtracted

from the sum of the credit program assets to determine the net present value of the assets. 

For guidance in recording transactions related to foreclosures, see Treasury's case 5B,

Accounting for Collateral and Escrow Transactions for a Loan Guarantee Program Under the Credit Reform Act of 1990 (Present Value Reporting Approach), dated August 24, 1993.

	Report the related allowance for subsidy cost in column 5.  Report the sum of columns 2

through 4 less column 5 as the Value of Assets Related to Direct Loans (column 6).

D.	Defaulted Guaranteed Loans from Pre-1992 Guarantees.  For each program with pre- 1992 Loan Guarantees, report gross receivables from defaulted guaranteed loans assumed

for direct collection in column 2 and the related interest receivable in column 3.  If the

present value method is used, report the estimated net realizable value of related

foreclosed property in column 4, and the present value allowance in column 5.  The sum

of columns 2 through 4 less column 5 is reported as Defaulted Guaranteed Loans

Receivable, Net (column 6). If the allowance for loss method is used, report the allowance for loan losses in column 4 and the estimated net realizable value of related foreclosed property in column 5. The sum of columns 2, 3 and 5 less column 4 is reported as Defaulted Guaranteed Loans Receivable, Net (column 6).  

E.	Defaulted Guaranteed Loans for Post-1991 Guarantees.  For each program with post- 1991 Loan Guarantees, report gross receivables from defaulted guaranteed loans assumed

for direct collection, related interest receivable, and the estimated net realizable value of related foreclosed property in columns 2, 3, and 4, respectively.  Report the related

allowance for subsidy cost in column 5. Report the sum of columns 2 through 4 less

column 5 as  the Value of Assets Related to Defaulted Guaranteed Loans Receivable

(column 6).  For foreclosed property, see the instructions for section C.  The sum of the

amounts reported in column 6 of sections B, C, D, and E shall equal the amount reported

on the Balance Sheet as credit program receivables and related foreclosed property, net.    

F.	Guaranteed Loans Outstanding.  For each loan guarantee program, report in column 2 the outstanding principal of guaranteed loans at face value.  In column 3, report the

amount of this outstanding principal that is guaranteed. 

G.	Liability for Loan Guarantees. For each program with pre-1992 loan guarantees, report in column 2 the liability for losses. If the present value method is used to calculate the

liability, report in column 2 the present value of liabilities for losses on pre-1992

guarantees.  If the estimated future default claims method is used, report in column 2 the

estimated future default claims. For each program with post-1991 loan guarantees, report

in column 3 the present value of the estimated net cash flows (outflows less inflows) to

be paid by the entity as a result of the loan guarantees.  Report the total of columns 2 and

3 as total liabilities for loan guarantees (column 4).

 H.	Subsidy Expense for Post-1991 Direct Loans.

	Direct Loans.  Report the direct loan subsidy expense, consisting of the following, at present value, as follows: 

	1.	Current Year's Direct Loans:  In column 2, the present value of the amount of the subsidy expense attributable to the interest rate differential between the

interest rate to be collected from the borrowers and the interest rate to be paid on

funds borrowed to finance the loans; in column 3, the present value of the

estimated delinquencies and defaults (net of recoveries); in column 4, the present

value of the estimated fees collected (offsetting expense); in column 5, the present

value of other cash flows, including prepayments and proceeds of loan asset sales;

and in column 6, the total of columns 2 through 5.   

	2.	Direct Loan Modifications and Reestimates:  In column 2, the subsidy cost of modifications of direct loans previously disbursed (whether pre-1992 or post-

1991); and in column 3, reestimates of the subsidy cost of direct loans previously

disbursed. 

	3.	Total Direct Loan Subsidy Expense:  The total subsidy expense for current year's direct loans, modifications, and reestimates. 

I.	Subsidy Expense for Post-1991 Loan Guarantees.

	Loan Guarantees.  Report the loan guarantee subsidy expense consisting of the following present values: 

	1.	Current Year's Loan Guarantees:  In column 2, the present value of the estimated payments for delinquencies and defaults on loan guarantees (net of

recoveries); in column 3, the present value of the estimated fees collected

(offsetting expense); in column 4, the present value of the amount of the interest

supplement; in column 5, the present value of other cash flows; and in column 6,

the total of columns 2 through 5.   

	2.	Loan Guarantee Modification and Reestimates:  In column 2, the subsidy cost of modifications of loan guarantees previously made (whether pre-1992 or post-

1991); in column 3, the reestimates of the subsidy cost of loan guarantees

previously made.

	3.	Total Loan Guarantee Subsidy Expense:  The total subsidy expense for current year's loan guarantees, modifications, and reestimates. 

J.	Administrative Expense.  Report the portions of salaries and other administrative expenses that have been accounted for in support of the direct loan programs and loan

guarantee programs.  Report the expenses for the individual programs, if material.

K.	Other Information.  Provide other information related to direct loan and loan guarantee programs, as appropriate, including any commitments to guarantee, management's

method for accruing interest revenue and recording interest receivable, and management's

policy for accruing interest on non-performing loans.

	If modifications were made, explain the nature of the modifications, the discount rate

used in calculating the expense, and the basis for recognizing a gain or loss related to the

modification.  Also, if appropriate, disclose that the subsidy expense resulting from

reestimates that is included in the financial statements is not reported in the budget until

the following year.  

	With respect to the foreclosed property reported in sections B, C, D, and E, the following

information should be disclosed:

	∙	Changes from prior year's accounting methods, if any

	∙	Restrictions on the use/disposal of the property

	∙	Number of properties held and average holding period by type or category, and

	∙	Number of properties for which foreclosure proceedings are in process at the end of the period.

Note 8.  Inventory and Related Property:

The following tables describes the information that shall be disclosed for each category of

inventory and related property.

	DESCRIPTION		REQUIRED DISCLOSURES

Inventories	o	General composition of inventory

o	Basis for determining inventory values, including the valuation method and any cost flow assumptions 

o	Changes from prior year's accounting methods, if any

o	Balances for each of the following categories of inventory: (1) inventory held for current sale; (2) inventory held in reserve for

future sale; (3) excess, obsolete and unserviceable inventory;

and, (4) inventory held for repair, unless otherwise presented on

the financial statements

o	Restriction on the sale of inventory

o	The decision criteria for identifying the category to which inventory is assigned

o	Changes in the criteria for identifying the category to which inventory is assigned

Operating materials

and supplies	o	General composition of operating materials and supplies

o	Basis for determining operating materials and supplies values, including the valuation method and any cost flow assumptions 

o	Changes from prior year's accounting methods, if any

o	Balances for each of the following categories of operating materials and supplies: (1) items held for use, (2) items held in

reserve for future use, and (3) excess, obsolete and

unserviceable items

o	Restriction on the use of operating materials and supplies

o	The decision criteria for identifying the category to which operating materials and supplies are assigned

o	Changes in the criteria for identifying the category to which operating materials and supplies are assigned

Stockpile materials	o	General composition of stockpile materials

o	Basis for valuing stockpile materials, including valuation method and any cost flow assumptions 

o	Changes from prior year's accounting methods, if any

o	Restriction on the use of material

o	Balances of stockpile materials in each of the following categories:  stockpile materials, and stockpile materials held for

sale

o	Decision criteria for categorizing stockpile materials as held for sale

o	Changes in the criteria for categorizing stockpile materials as held for sale

Seized property	o	Explanation of what constitutes a seizure and a general description of the composition of seized property

o	Method(s) of valuing seized properties

o	Changes from prior year's accounting methods, if any

o	Analysis of change in seized property, including the dollar value and number of seized properties that are (1) on hand at

the beginning of the year, (2) seized during the year, (3)

disposed of during the year, and (4) on hand at the end of the

year, as well as known liens or other claims against the

property.  This information should be presented by type of

seized property and method of disposition where material

Forfeited property	o	Composition of forfeited property

o	Method(s) of valuing forfeited property

o	Restrictions on the use or disposition of forfeited property

o	Changes from prior year's accounting methods, if any

o	Analysis of change in  forfeited property, providing the dollar value and number of forfeited properties that (1) are on hand at

the beginning of the year, (2) are made during the year, (3) are

disposed of during the year by method of disposition, and (4)

are on hand at the end of the year.  This information would be

presented by type of property forfeited where material

o	If available, an estimate of the value of property or funds to be distributed to Federal, State and local agencies in future

reporting periods

Goods held under

price support and

stabilization programs	o	Basis for valuing the commodities, including the valuation method and any cost flow assumptions

o	Changes from prior year's accounting methods, if any

o	Restrictions on the use, disposal, or sale of commodities

o	An analysis of change in the dollar value and volume of commodities, including those (1) on hand at the beginning of

the year, (2) acquired during the year, (3)disposed of during the

year by method of disposition, (4) on hand at the end of the

year, (5) on hand at year's end and estimated to be donated or

transferred during the coming period, and (6) that may be received as a result of collateral related to nonrecourse loans

outstanding.  The analysis should also show the dollar value

and volume of purchase agreement commitments

Note 9.  General Property, Plant, and Equipment

The major classes of general PP&E should be determined by the reporting entity.  Examples of major classes of general PP&E include, but are not limited to, buildings and structures, furniture

and fixtures, equipment, vehicles, and land.  The following are the minimum disclosures required

for each major class of general PP&E:

∙	the cost, associated accumulated depreciation, and book value

∙	the estimated useful lives

∙	the method(s) of depreciation

∙	capitalization threshold(s), including any changes in threshold(s) during the period; and

∙	restrictions on the use or convertibility of general PP&E

Recognition and measurement criteria for general PP&E are in SFFAS No. 6.  For existing

PP&E, if adjustments are required in the period that the standards are implemented to comply

with the recognition and measurement criteria, the adjustments should be made and disclosed by

major class in accordance with the standard.

Other actions to implement SFFAS No. 6 that require prior period adjustments and footnote

disclosures include removal from the balance sheet of previously recognized Federal mission

PP&E, heritage assets stewardship land, and related contra assets.

Note 10.  Debt:

			       		   Beginning		Net   	   		Ending   

		   			   Balance  		Borrowing   		Balance

A.    Public Debt:

	(1) Held by Government    

		Accounts		    $   xx		 $   xx	    		 $   xx   

       	(2) Held by the Public   	         xx		      xx	 		      xx

	(3) Total Public Debt		    $   xx 		 $   xx	   		 $   xx

B.    Agency Debt: 

	(1) Held by Government   

		Accounts		         xx		      xx	  		      xx

	(2) Held by the Public        	         xx		      xx	        		      xx

	(3) Total Agency Debt      	    $   xx		 $   xx	   		 $   xx

C.    Other Debt:

	(1)  Debt to the Treasury    	   $   xx		 $   xx		    	$   xx	

	(2)  Debt to the Federal

            	 Financing Bank     	        xx		      xx			     xx

	(3)  Debt to Other Federal

           	 	Agencies 	   	        xx		      xx			     xx

	(4) Total Other  Debt        	        xx		      xx	   		     xx	

D.    Total Debt 			    $  xx		 $   xx	    		 $  xx	

E.    Classification of Debt:

	Intragovernmental Debt							 $  xx

	Debt held by the Public							     xx

		Total Debt 								 $  xx	

F.  Other Information: _______________________________________________

     _______________________________________________________________

Instructions.  Except for credit program debt to Treasury or loan guarantee and other liabilities covered by budgetary resources at the balance sheet date, all debt is classified as not covered by

budgetary resources.  Lines A (1)  and (2), Public Debt, should be reported by the Treasury Department only and shall distinguish between public debt held by government agencies and

public debt held by the public.  On line B, enter the amounts of agency debt issued under special

financing authorities (e.g., Federal Housing Administration (FHA) debentures and Tennessee

Valley Authority bonds).  Report separately agency debt held by government agencies and

agency debt held by the public.  On line C, enter the amounts of debt owed to Federal agencies as

follows:  on line C(1), debt owed to the Treasury, which includes direct loan and guaranteed loan

financing account liabilities to Treasury as well as other debt owed to Treasury; on line C(2),

debt owed to the Federal Financing Bank; and, on line C(3), debt owed to other Federal agencies. 

Net borrowing and repayment is not to include amounts that result from refinancing.  

Classification of Debt.  Report as intragovernmental debt all debt owed to Treasury, the Federal Financing Bank or other Federal Agencies or accounts (line A (1), B(1), and C(4) ).  This amount

shall equal the intragovernmental debt amount reported on the balance sheet.  Report all other

debt held by the public on lines A(2) and B(2).  This amount shall equal debt held by the public

on the balance sheet.

Other Information.  Provide the names of the agencies, other than Treasury or the Federal Financing Bank, to which intragovernmental debt is owed and the amounts.  Provide other 

information relative to debt (for example, redemption or call of debts owed to the public before

maturity dates, write-offs of debts owed Treasury or the Federal Financing Bank, etc.).

Note 11. Other Liabilities:

A.  Other Liabilities Covered by Budgetary Resources:			                 	

							  Non-	

							  Current    Current     Total 

	1.  Intragovernmental

 	    	(1)                  				   $   xx      $   xx       $   xx

    		(2)                           			        xx           xx            xx

    		(3)                       			        xx           xx            xx

	     Total Intragovernmental   			   $   xx      $   xx       $  xxx

	2.                     				   $   xx       $   xx       $   xx

    	3.                       	    			        xx            xx            xx

    	4.                         				        xx            xx            xx

		Total                     			   $   xx       $   xx       $  xxx

B.  Other Information: ___________________________________________

	 _______________________________________________________

C.  Other Liabilities not Covered by Budgetary Resources:

							  Non-	

							  Current    Current     Total 

	1.  Intragovernmental

 	    	(1)                  			   	   $   xx      $   xx       $   xx

    		(2)                           			        xx           xx            xx

    		(3)                       			        xx           xx            xx

	     Total Intragovernmental                     	   $   xx      $   xx       $  xxx

	2.                     				   $   xx      $   xx       $   xx

    	3.                           				        xx           xx            xx

    	4.                         				        xx           xx            xx

		Total                     			   $   xx      $   xx       $  xxx				          	

D.  Other Information: ___________________________________________

	 _______________________________________________________

Instructions.  

A.	Other Liabilities.  Include all liabilities not reported elsewhere.  Separately report other liabilities covered by budgetary resources and those not covered by budgetary resources,

and separately disclose the current portion of other liabilities covered by budgetary

resources.

B.	Other Information. Provide other information necessary for understanding other liabilities.

Note 12 Leases:

A. Entity as Lessee:

  	Capital Leases:

	Summary of Assets Under Capital Lease:

		Land and Buildings............................	 $    xx

		Machinery and Equipment....................... 	 $    xx

		Other......................................... 		 $    xx

		Accumulated Amortization...................... 	 $    xx

	Description of Lease Arrangements: ______________________________

	___________________________________________________________

	___________________________________________________________

	Future Payments Due:

					       Asset Category      

	Fiscal Year		    (1)	    (2)	    (3)	 Totals

	Year 1			 $  xx	$   xx	 $  xx	 $  xx

	Year 2			     xx	     xx	     xx	     xx

	Year 3			     xx	     xx	     xx	     xx

	Year 4			     xx	     xx	     xx	     xx

	Year 5			     xx	     xx	     xx	     xx

	After 5 Years		     xx	     xx	     xx	     xx

	Total Future Lease

	Payments           	 $  xx    $  xx	 $  xx	 $  xx

	Less: Imputed Interest     xx	     xx	     xx	     xx

	      Executory Costs

		 (e.g., taxes)         xx	     xx	     xx	     xx

	Net Capital     

	Lease Liability    	 $   xx	 $   xx	 $   xx	 $   xx

	Liabilities covered by budgetary resources	 	 $   xx

	Liabilities not covered by budgetary resources	 $   xx

	Operating Leases:

	Description of Lease Arrangements: ______________________________

	___________________________________________________________

	___________________________________________________________

	Future Payments Due:

				             Asset Category     

	Fiscal Year		    (1)	    (2)	    (3)	 Totals

	Year 1			 $  xx	$   xx   $   xx   $   xx

	Year 2			     xx	     xx	     xx	     xx

	Year 3			     xx	     xx	     xx	     xx

	Year 4			     xx	     xx	     xx	     xx

	Year 5			     xx	     xx	     xx	     xx

	After 5 Years		     xx	     xx	     xx	     xx

	Total Future Lease

	Payments...........	 $   xx	 $   xx	 $   xx	 $   xx

B.  Entity as Lessor:

	Capital Leases:

	Description of Lease Arrangements: ______________________________

	___________________________________________________________

	___________________________________________________________

	Future Projected Receipts:

	                            Asset Category     

	Fiscal Year		    (1)	    (2)	    (3)	 Totals

	Year 1			 $  xx	 $  xx	 $  xx	$   xx

	Year 2			     xx	     xx	     xx	     xx

	Year 3			     xx	     xx	     xx	     xx

	Year 4			     xx	     xx	     xx	     xx

	Year 5			     xx	     xx	     xx	     xx

	After 5 Years		     xx	     xx	     xx	     xx

	Total Future Capital

	Lease Receivables..	 $   xx	 $   xx	 $   xx	 $   xx

	Operating Leases:

	Description of Lease Arrangements: ______________________________

	___________________________________________________________

	Future Projected Receipts:

					        Asset Category     

	Fiscal Year		    (1)	    (2)	    (3)	 Totals

	Year 1			 $  xx	 $  xx	 $  xx	$   xx

	Year 2			     xx	     xx	     xx	     xx

	Year 3			     xx	     xx	     xx	     xx

	Year 4			     xx	     xx	     xx	     xx

	Year 5			     xx	     xx	     xx	     xx

	After 5 Years		     xx	     xx	     xx	     xx

	Total Future Operating

	Lease Receivables..	 $   xx	 $   xx	 $   xx	 $   xx

C.   Other Information:_____________________________________________

	___________________________________________________________

Instructions.

	SFFAS Nos. 5 and 6 provide the criteria for liability and asset recognition with respect to

capital leases.

A.	Entity as Lessee.  Summary of Assets Under Capital Lease:  Enter the gross assets under capital lease, by major asset category, and the related total accumulated amortization.

	Description of Lease Arrangements:  Provide information that discloses the agency's

funding commitments including, but not limited to, the major asset categories and

associated lease terms, including renewal options, escalation clauses, contingent rentals

restrictions imposed by lease agreements, and the amortization period.

	Future Payments Due:  Enter future lease payments, by major asset category, for all

noncancelable leases with terms longer than one year.  

	For capital leases, show deductions for imputed interest and executory costs.  Separately

disclose the portions of the capital lease liability covered by budgetary resources and not

covered by budgetary resources (see Appendix B of OMB Circular A-11 for additional

guidance but observe a difference in terminology: that the term “capital leases” as used in

this note includes “capital leases and “lease purchases” as the terms are used in Circular

A-11).

B.	Entity as Lessor.  Description of Lease Arrangements:  Provide the information necessary to disclose the commitment of the entity's assets including but not limited to

the major asset category and lease terms. 

	Future Projected Receipts:  Enter future lease revenues, by major asset category, for all noncancelable leases with terms longer than one year.

C.	Other Information.  Provide other information necessary for understanding leases that is not disclosed in the above categories.

Note 13.  Federal Employee and Veterans’ Benefits

Entities that are responsible for administering pensions, other retirement benefits, and other post-

employment benefits should calculate and report these liabilities and related expenses in

accordance with SFFAS No. 5. 

The following are the minimum disclosures required for pensions and other retirement benefits:

∙	The total liability and the separate amounts covered by budgetary resources and  not covered by budgetary resources  

∙	The assumptions used to calculate the liability.  (In the case of a pension plan that uses assumptions that differ from those used by the primary plans, the Civil Service

Retirement System (CSRS), the Federal Employees Retirement System (FERS), and the

Military Retirement System (MRS), the pension plan using the different assumptions

should disclose how and why the assumptions used differ from those of the primary

plans.) 

∙	Separate disclosure of the individual components of expense for the period (i.e., the normal cost, interest on the liability for the period, prior and past service cost from plan

amendments during the period, if any, any gains/losses due to a change in the medical

inflation rate assumption, and other actuarial gains or losses during the period, if any)

Note 14.  Life Insurance Liabilities:

Federal entities providing whole life insurance should provide all disclosures required by private

sector standards.  They should also separately disclose all components of the liability for future

policy benefits with a description of each amount and an explanation of its projected use and any

other potential uses (e.g., reducing premiums, determining and declaring dividends available,

and/or to reduce Federal support in the form of appropriations related to administrative costs or

subsidies).  See SFFAS No 5.

Note 15. Unexpended Appropriations:

A.  Unexpended Appropriations:

	(1) Unobligated	 		     

		(a) Available			  $  xx

		(b) Unavailable		      xx

	(2) Undelivered orders	     	      xx

		Total				  $ xxx

B.  Other Information: _____________________________________________

	___________________________________________________________

	___________________________________________________________

	___________________________________________________________

Instructions.  Unexpended Appropriations.  The total of the entity's appropriations represented by unobligated balances and undelivered orders.  Unobligated balances shall segregated to show

available and unavailable amounts.

Note 16.  Contingencies:  A loss contingency is an existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an entity.  The uncertainty should

ultimately be resolved when one or more future events occur or fail to occur.  The likelihood that

the future event or events will confirm the loss or the incurrence of a liability can range from

probable to remote.  SFFAS No. 5 contains the criteria for recognition and disclosure of

contingent liabilities. In addition to the contingent liabilities required by SFFAS No. 5, an

estimate of obligations related to canceled appropriations for which the reporting entity has a

contractual commitment for payment should also be disclosed.

Note 17.  Environmental Cleanup Costs.  Disclose environmental cleanup costs in accordance with SFFAS No. 5 and SFFAS No. 6.  For environmental hazards resulting from ongoing

operations, include the:  (1) sources of cleanup requirements, (2) method for assigning estimated

total cleanup costs to current operating periods,  (3) unrecognized portion of estimated total

cleanup cost associated with general PP&E,  (4) material changes in total estimated cleanup costs due to changes in laws, technology, or plans, and the portion of the change in estimate that

relates to prior period operations, and  (5) nature of estimates and the disclosure of information

regarding possible changes due to inflation, deflation, technology, or applicable laws and

regulations.

Footnote Disclosures Related to the Statement of Net Cost

	Suborganization program costs.  For some entities, the organizational structure and operations are so complex that supporting schedules should be used to fully display their

suborganizations’ major programs and activities.  Supporting schedules similar to those

illustrated below should be included in the notes to the financial statements and present

detailed cost and revenue information supporting the summary information presented in

the Statement of Net Cost.  

	Reporting entity

	Supporting schedules by suborganization

	For the year ended September 30,

	(in dollars/thousands/millions)

		SUBORGANIZATION A

								Pro-			Pro-		

								gram G		gram H	

	COSTS:							

		Intragovernmental costs	 		$    --	     		$ XXX 

		Public:

			Transfer payments	 	   	    XXX		       --	 

			Administrative costs			    XXX		       --	

			Other costs 				         --		   XXX			

				Total program costs		    XXX		   XXX 

		 SUBORGANIZATION B

							Pro-		Pro-		Pro-	

							gram B	gram C	gram D   

	COSTS:							

		Intragovernmental costs		$ XXX	$ XXX 	$     --

		Public:

			Other costs		 	   XXX	       --		    XXX	 

			Administrative costs		   XXX	        --		       --  	

				Total program costs	   XXX	   XXX	    XXX	

		Less earned revenues			        --		 (XXX)	( XXX)

			Net program costs		 $XXX	$XXX		 $XXX 

		SUBORGANIZATION C

							Pro-		Pro-		Other	

							gram E	gram F	Progs.   

	COSTS:							

		Intragovernmental costs		 $     --        	$    --	              $XXX

		Public:

			Cost of stewardship land	     XXX	      --		      --

			Cost of Federal mission PP&E       --		   XXX	      --	

			Other costs			       --  	   XXX	   XXX

				Total program costs	   $XXX	 $XXX	 $XXX

	Aggregated program information.  In cases where an agency's Statement of Net Cost displays highly aggregated program information and the program has clearly

distinguishable segments, information on the net cost of the segments should be disclosed

in the footnotes.  

	Cost of stewardship PP&E.  The cost of acquiring, constructing, improving, reconstructing, or renovating Federal mission PP&E and heritage assets and the cost of

acquiring stewardship land and any costs to prepare stewardship land for its intended use

shall be recognized as a cost in the Statement of Net Cost in the period when it is

incurred.  These costs shall be separately reported on the face of the Statement of Net

Cost or disclosed in the footnotes, depending on the materiality of the amounts and the need to distinguish such amounts from other costs relating to measures of outputs or

outcomes of the reporting entity (see SFFAS No. 6).

	Stewardship assets transferred.  If the cost of heritage assets and stewardship land transferred from other Federal entities or acquired through donation or devise is not

known, then the receiving entity shall disclose the fair value.  If the fair value is not

known or reasonably estimable, information related to the type and quantity of assets

received shall be disclosed (see SFFAS No. 6).

	Deferred maintenance.  For general PP&E, Federal mission PP&E, heritage assets and stewardship land, the following information related to deferred maintenance shall be

disclosed:

	∙	Identification of each major class of asset for which maintenance was deferred, and

	∙	Method of measuring deferred maintenance for each major class of asset.  See SFFAS No. 6 for detailed guidance on the extent of the disclosures for the

Condition Assessment Survey or the Total Life-Cycle Cost Method.  Either

method can be used for measuring deferred maintenance.

	Management may elect to present stratification of critical and noncritical amounts of

maintenance needed to return each major class of asset to its acceptable operating

condition.  If management elects to make this disclosure, the disclosure should include

management's definition of critical and noncritical maintenance.  See SFFAS No. 6.  

	Exchange revenues.  Reporting entities that provide goods and services to the public or another government entity should disclose specific information related to their pricing

policies and any expected losses under goods made to order.  These disclosures are

described in SFFAS No. 7.

	Gross Cost and Earned Revenue by Budget Functional Classification.  Disclose gross cost and earned revenue by budget functional classification.  Gross cost and earned

revenue should be net of  intra-entity transactions (consolidated).  This disclosure may be

prepared for the consolidated agencywide financial statements only.

Gross Cost and Earned Revenue by Budget Functional Classification 

Functional Classification   		  Gross Cost		Earned Revenue	Net Cost

A					    xxx 				xxx		    xxx   

B					    xxx				xxx		    xxx

C					    xxx				xxx		    xxx

Total					    xxx				xxx		    xxx

The attached Appendix  is provided to help agencies identify and disclose cost and revenue by budget functional classification (BFC).  It includes: (1)  a list of department codes and associated

department names, (2)  a list of BFCs, and (3) for each BFC, a matrix that associates Treasury

account symbols with department codes.  The Treasury account symbols in the Appendix are valid for FY 1998 only.  For fiscal years after FY 1998, reporting entities should refer to the

Treasury Financial Manual for the appropriate Treasury account symbols.

Footnote Disclosures Related to the Statement of Changes in Net Position

	Cleanup cost adjustments.  The offsetting charge for any cleanup cost liability recognized upon implementation of the standard requiring such recognition shall be

shown on the Statement of Changes in Net Position as a prior period adjustment.  The

amounts involved shall be disclosed in a note, and to the extent possible, amounts

associated with current and prior periods should be identified.  See SFFAS No. 6.

Footnote Disclosures Related to the Statement of Budgetary Resources

	The following information should be disclosed:

	∙	The net amount of budgetary resources obligated for undelivered orders at the end of the period

	∙	Available borrowing and contract authority at the end of the period

	∙	Repayment requirements, financing sources for repayment, and other terms of borrowing authority used

	∙	Adjustments during the reporting period to budgetary resources available at the beginning of the year and an explanation thereof

	∙	Existence, purpose, and availability of permanent indefinite appropriations

	∙	Information about legal arrangements affecting the use of unobligated balances of budget authority, such as time limits, purpose, and obligation limitations

	∙	Explanations of any differences between the information required by SFFAS No. 7 and the amounts described as "actual" in the Budget of the United States Government for that fiscal year, and

	∙	The amount of any contributed capital received during the reporting period.

Footnote Disclosures Related to the Statement of Financing 

Disclose the amount of liabilities not covered by budgetary resources and provide an explanation

that includes identification of balance sheet components, when recognized liabilities not covered

by budgetary resources do not equal the total financing sources yet to be provided.

Footnote Disclosures Related to the Statement of Custodial Activity

	Incidental custodial collections.  Organizations that collect immaterial custodial revenues that are incidental to their primary mission may disclose the sources and

amounts of the  collections and the amounts distributed to others in accompanying

footnotes rather than on the face of the statement.

	Non-exchange revenues.  Entities preparing a statement of custodial activity for non- exchange revenue should disclose the:  (1)  basis of accounting, (2) factors affecting the

collectability and timing of taxes and other non-exchange revenues, and (3) cash

collections and refunds by tax year and type of tax for the reporting period. These

disclosures are described in SFFAS No. 7.

Footnote Disclosures Not Related to a Specific Statement

	Dedicated collections.  A reporting entity may be responsible for funds financed with dedicated  collections that are held for later use to accomplish the fund's purpose.  Such

funds include all funds within the budget classified as "trust funds," those funds within

the budget that are classified as "special funds" but that are similar in nature to trust

funds, and those funds within and outside the budget that are fiduciary in nature.  The

identification of funds that are similar in nature to trust funds is strictly a matter of

managerial judgment.

	SFFAS No. 7 describes the information related to dedicated collections that shall be

disclosed. If more than one reporting entity is responsible for carrying out the program

financed with dedicated collections, the entity with the largest share of the activity shall

be responsible for reporting all revenues, other financing sources, assets, liabilities and

costs of the fund (i.e., the Environmental Protection Agency would be responsible for

reporting all activity related to the Hazardous Substance Superfund).

	 Required Supplementary Stewardship Information

The Stewardship objective of Federal financial reporting requires reporting on the Federal

Government's accountability over certain resources entrusted to it and certain responsibilities

assumed by it that cannot be measured in traditional financial reports.  Organizations reporting

on stewardship information should become familiar with the categories being measured and

review the suggested formats in SFFAS No. 8.  Because of the unique character of this

information, agencies are encouraged to experiment with various narratives, tables and schedules

to satisfy the intent of Supplementary Stewardship Reporting.  Information on stewardship

definitions, measurement, minimum reporting and implementation guidance is found in SFFAS

No. 8.

To achieve the objectives of Supplementary Stewardship Reporting, the stewardship categories

have been consolidated into three distinct groups.  Each group is meant to achieve the objectives

of stewardship reporting by providing financial and non-financial data so that the unique

characteristics of stewardship can be displayed.  In some cases a narrative description using non-

financial data presents a better portrayal of accountability and should be the primary disclosure

method.  The three major groups are as follows: 

∙	Stewardship PP&E

∙	Stewardship Investments

∙	Stewardship Responsibilities  

Stewardship PP&E

Stewardship PP&E is assets whose physical properties resemble those of general PP&E

traditionally capitalized in financial statements.  However, due to the nature of these assets, (1)

valuation would be difficult and (2) matching costs with specific periods would not be

meaningful.  Yet, the Federal Government should be able to demonstrate accountability over

these assets by reporting on their existence and condition.  Agencies are encouraged to

experiment with reporting formats that display the information required by the standard. 

Stewardship PP&E includes:  

∙	Heritage assets, such as Federal monuments and memorials and historically or culturally significant property  

∙	Federal mission, PP&E, such as space exploration and military weapons systems 

∙	Stewardship land, i.e., land not acquired for or in connection with general PP&E

Heritage assets.  Heritage assets are unique and are generally expected to be preserved indefinitely. These assets shall be reported in terms of physical units rather than cost, fair value,

or other monetary values. 

Federal Mission Property, Plant and Equipment.  Federal mission PP&E is integral to meeting a unique Federal mission and consists of  weapons systems and space exploration equipment.  These assets should be valued and reported using either the total cost or the latest

acquisition cost valuation method.  Once values are established, consistent application is required

and any change shall be justified.  

Stewardship Land.  Stewardship land is defined as the solid surface of the earth, excluding natural resources.  These assets shall be reported in terms of physical units rather than cost, fair

value, or other monetary values. 

The following table summarizes the minimum reporting required for heritage assets, Federal

mission PP&E, and stewardship land.

	STEWARDSHIP PROPERTY PLANT & EQUIPMENT

INFORMATION REPORTED	HERITAGE ASSETS	FEDERAL MISSION PP&E	STEWARDSHIP LAND

1.Description of

Assets	Describe major category 

1. Collectible

2. Noncollectible	Describe major types and

values assigned by valuation

method	Describe, by principal

organization, significant

holdings by category of

major use

2.Description of

acquisitions and

withdrawals	Describe methods of

acquisition and withdrawal	Describe methods of

acquisition and withdrawal	Describe methods of

acquisition and withdrawal

3.Condition

description	Describe overall condition	Describe overall condition	Describe overall condition

4.Deferred

Maintenance

	Reference to note on 

deferred maintenance, if

required	Reference to note on

deferred maintenance, if

required 	Reference to note on

deferred maintenance, if

required

5.Accounting for

physical items or

dollars	Account for physical units:

Beginning Balance

Additions

Withdrawals

Ending Balance	Account for value by major

type:

Beginning Value,

Value added (shall agree

with amount on the

Statement of Net Cost)

Value withdrawn

Change in value from

revaluations

Ending Value	Account for physical units

by major category:

Beginning Balance

Additions

Withdrawals

Ending Balance

Stewardship Investments

Stewardship investments are substantial investments made by the Federal Government for the benefit of the nation.  When incurred, they are treated as expenses in determining the net cost of

operations.  However, these items merit special treatment so that readers of Federal financial reports know the extent of  investments that are made for long-term benefit.  Such investments

should be measured in terms of expenses incurred for: (1)  Federally-financed but not federally-

owned physical property (Non-Federal Physical Property); (2)  Certain education and training

programs (Human Capital); and (3)  Federally-financed research and development (Research and

Development) 

Non-Federal Physical Property.  Non-Federal physical property investments are expenses included in the calculation of net cost incurred by the Federal Government for the purchase,

construction or major renovation of physical property owned by State and local governments.

Human Capital.  Human capital investments are expenses included in net cost for education and training programs that are intended to increase or maintain national economic productive

capacity and that produce outputs and outcomes that provide evidence of maintaining or

increasing national productive capacity.  The definition excludes education and training expenses

for Federal civilian and military personnel.  

Continued categorization of human capital expenses as investment for stewardship purposes is

predicated on demonstrated outputs and outcomes consistent with the intent of the program. 

SFFAS  No.8 describes the criteria which shall be met for these expenses to continue to be

categorized as stewardship investments.  Outcome and output measures that are used to justify

continued treatment of expenses as stewardship investments should be clearly identified in the

agency's financial statement, and the relationship of the outcomes and outputs to the stewardship

investments should be readily apparent.

Research and Development.  Research and development investments are expenses included in the calculation of net costs incurred to support the search for new or refined knowledge and ideas

and for the application or use of such knowledge and ideas for the development of new or

improved products and processes with the expectation of maintaining or increasing national

economic productive capacity or yielding other future benefits.

Continued categorization of research and development expenses as investment for stewardship

purposes is predicated on demonstrated outputs and outcomes consistent with the intent of the

program.  SFFAS No. 8 describes the criteria which shall be met for these expenses to continue

to be categorized as stewardship investments.  Outcome and output measures that are used to

justify continued treatment of expenses as stewardship investments should be clearly identified

in the

agency's financial statement, and the relationship of the outcomes and outputs to the stewardship

investments should be readily apparent.

The following table summarizes the minimum reporting required for stewardship investments.

	STEWARDSHIP INVESTMENTS

INFORMATION

REPORTED	NON-FEDERAL

PROPERTY	HUMAN CAPITAL	RESEARCH AND

DEVELOPMENT

1. Annual

Investment*	Investment made for the

current year, including

description of Federal

property transferred to State

and local governments	Investment made for

the current year	Investment made for

the current year

2. Description of

major programs	Description of major

programs involving Federal

investments, including

description of programs or

policies under which non-

cash assets are transferred to

State and local governments	Description of major

education and

training programs

considered Federal

investments	Description of major

research and

development

programs

* For FY 1998, report only stewardship investments made during FY 1998.  For subsequent years, report stewardship investments for each year in which such investments were covered by

audit until five years of such data is available.  Beginning in FY 2002, report stewardship

investments for 2002 and the preceding four years.

Risk Assumed Information

Risk assumed is generally measured by the present value of unpaid expected losses net of

associated premiums, based on the risk inherent in the insurance or guarantee coverage in force.

When financial information pursuant to the Financial Accounting Standards Board's (FASB)

standards on Federal insurance and guarantee programs conducted by government corporations is

incorporated in financial statements of a larger Federal reporting entity, the entity shall report as

Required Supplemental Stewardship Information (RSSI) what amounts and periodic change in

those amounts would be reported under the "risk assumed" approach referred to in SFFAS No. 5.

	Required Supplementary Information

Statement of Budgetary Resources.  Monitoring of budget execution is at the individual account level.  Accordingly, budgetary information aggregated for purposes of the Statement of

Budgetary Resources should be disaggregated for each of the reporting entity's major budget

accounts and presented as supplementary information.  For purposes of this presentation, small

budget accounts may be aggregated. 

Statement of Custodial Activity.  Entities that collect taxes and duties should provide the following supplementary information relating to their potential collections and custodial

responsibilities (see SFFAS No. 7):

	∙	A discussion of the factors affecting the collectibility of compliance assessments  recognized as taxes receivable,  

	∙	If reasonably estimable, claims for refunds that are not yet accrued but are likely to be paid when administrative action is complete,   

	∙	The amount of assessments that the entity still has statutory authority to collect at the end of the period, but has no future collection potential and are therefore

defined as write-offs, and  

	∙	If reasonably estimable, the amounts by which trust funds may be over or under- funded in comparison with requirements of law.  This information should also be

presented by recipient entities that are trust funds.

Segment Information.  Each franchise fund and other intragovernmental support revolving fund that is not separately reported on the entity's principal statements shall report the following

supplementary information:

∙	Condensed information about assets, liabilities, and net position showing, as of the reporting date, (1) fund balance, (2) accounts receivable, (3) PP&E, (4) other assets, (5)

liabilities due and payable for goods and services received, (6) deferred revenues, (7)

other liabilities, and (8) cumulative results of operations.

All franchise funds and other intragovernmental support revolving funds shall report the

following supplementary information:

∙	A brief description of the services provided by the fund and the identity of the fund's major customers (major customers are organizations that account for more than 15

percent of the fund’s revenues), and

∙	A summary, for the reporting period, by product or line of business of (1) the full cost of goods and services provided, (2) the related exchange revenues, and (3) the excess of

costs over exchange revenues.

	Other Accompanying Information

Performance Measures.  The performance measures presented in the overview should relate to the programs’ purposes and goals, be consistent with measures previously included in budget

documents and other materials related to implementation of the GPRA, and linked to the

programs presented in the Statement of Net Cost.  The measures in the overview should be

limited to the entity's most significant program and financial measures. Additional measures

should be presented as “Other Accompanying Information.”  Management has broad discretion in

the manner in which performance information is displayed.  Among the options available to

management is  a statement format similar to the Statement of Program Performance Measures

illustrated in SFFAC No. 2.   Management’s display of performance information should include

sufficient explanatory information that would help readers understand the significance of the

measures, the results, and any deviations from goals or plans.	

Revenue Foregone.  If the entity discloses differences between the prices it charges in exchange transactions and full cost or market price, it should provide an estimate of the amount of revenue

forgone and should explain whether, and to what extent, the quantity demanded was assumed to

change as a result of a difference in price.

Tax Burden/Tax Gap.  Preparers of statements of entities having custodial responsibilities may consider presenting the information described below, and in more detail in SFFAS No. 7, as

other accompanying information, if the information is readily available and the preparers believe

the information will enhance the usefulness of the statements.

∙	A perspective on the income tax burden.  This could take the form of a summary of the latest available information on the income tax and on related income, deductions,

exemptions, and credits for individuals by income level and for corporations by value of

assets.

∙	Available information on the size of the tax gap.  Collecting entities should provide any relevant estimates of the annual tax gap that become available as a result of Federal

surveys or studies.

∙	Tax expenditures related to entity programs.  Information on tax expenditures relevant to entity performance may be presented but it should be appropriately described,

explained and qualified.

∙	Directed flows of resources related to entity programs.  Information on directed flows of resources related to an entity’s programs may be presented but it should be

appropriately described, explained, and qualified.

	Disclosure Checklist

This disclosure checklist was prepared to assist preparers of Federal financial statements by

providing a list of disclosures required by the SFFASs.  It is not a comprehensive or an

authoritative list of required disclosures.  The standards and the other provisions of this Bulletin

provide that guidance.  Furthermore, it does not address the portion of the standards that provide

guidance for the recognition and measurement of information contained in the principal

statements and related notes. The checklist begins by listing the SFFAS and their effective dates.

It then presents each SFFAS in order, identifies the sub-topic for which disclosure is required,

cites the SFFAS paragraph number, refers to the section of this Bulletin that addresses the

disclosure  requirement, and describes the category in which the information is to be disclosed .  

These information categories are as follows:

∙	Principal Financial Statements

∙	Footnotes

∙	Required Supplementary Stewardship Reporting

∙	Required Supplementary Information and Other Accompanying Information.

The following abbreviations are used:

SFFAS       	- Statement of Federal Financial Accounting Standards

Para No     	- Paragraph Number

F&C         	- Form and Content

RSSI        	- Required Supplementary Stewardship Information

RSI & OAI  	- Required Supplementary Information and Other Accompanying Information

B/S         	- Balance Sheet

Inst        	- Instruction (s)

ORB        	- Other Retirement Benefits

PPE         	-  Property, Plant, and Equipment

Stmt        	- Statement

Fin. Stmt.  	- Principal Financial Statement    

	Effective Dates of Federal Financial Accounting Standards

Number        Name                                 		Effective Date

SFFAS No. 1.	Accounting for Selected Assets        	For fiscal years ending

              	and Liabilities                       		September 30, 1994 and later

SFFAS No. 2. Accounting for Direct Loans           	For fiscal years ending 

              	and Loan Guarantees                   	September 30, 1994 and later

SFFAS No. 3. Accounting for Inventory and          	For fiscal years ending

              	Related Property                      	September 30, 1994 and later

SFFAS No. 4.  Managerial Cost Accounting            	For fiscal years beginning after

             	Concepts and Standards                	September 30, 1996

SFFAS No. 5. Accounting for Liabilities of         	For fiscal years beginning after  

              	the Federal Government        		September 30, 1996

SFFAS No. 6. Accounting for Property, Plant,       	For fiscal years beginning after

              	and Equipment                         	September 30, 1997 

SFFAS No. 7. Accounting for Revenue and Other    For fiscal years beginning after

              	Financing Sources and Concepts        September 30, 1997 

              	for Reconciling Budgetary and 

              	Financial Accounting

SFFAS No. 8  Supplementary Stewardship             	For fiscal years beginning after

		Reporting				September 30, 1997

Disclosure Checklist

SFFAS	Sub-topic	SFFAS

Para. No.	Related F&C Reference	Description	Fin. Stmt.	Footnote	RSSI	RSI &

OAI

1	Intragovernmental

assets and liabilities	24	B/S

Inst	Report intragovernmental assets and

liabilities separately from governmental

assets and liabilities 	X			

1	Entity and non-entity

assets	26	B/S 

Inst	Report in the entity's financial statement

both entity assets and non-entity assets

under its custody or management 	X			

1	Fund balance with

Treasury	38	B/S Note

Fund Balances

with Treasury 	Disclose any restrictions on future use of

unobligated balances 		X		

1	Intragovernmental

receivables	42	B/S 

Inst	Report intragovernmental receivables

(amounts due from Federal entities)

separately from receivables from non-

Federal entities 	X			

1	Receivables	43	B/S  

Inst	Distinguish between entity receivables and

non-entity receivables 	X			

1	Receivables	52	B/S Note 

Accounts

Receivable	Disclose the major categories of

receivables by amount and type, the

methodology used to estimate the

allowance for uncollectible amounts, and

the total allowance 		X		

1	Interest Receivable	55	B/S Note 

Loans and Loan

Guarantees	Disclose accrued interest on uncollectible

accounts receivable until it is officially

waived by the entity or the related debt is

written off 		X		

1	Interest Receivable	56	B/S

Inst	Account for and report interest receivable

from Federal entities separately from

interest receivable from the public 	X			

1	Investments in

Treasury securities	72	B/S Note 

Investments	Disclose the market value of investments in

market-based and marketable Treasury

securities 		X		

1	Accounts Payable	80	B/S 

Inst  	Disclose accounts payable not covered by

budgetary resources 	X			

1	Current liabilities	86	B/S 

Inst	Disclose the amount of current liabilities

not covered by budgetary resources 		X		

2	Guaranteed loans	23	B/S Note

Direct Loans and

Loan Guarantees	Disclose the face value of guaranteed loans

outstanding and the amount guaranteed 		X		

2	Loan modification	56	B/S Note  

Direct Loans and

Loan Guarantees	Disclose the nature of any modification of

direct loans or loan guarantees, the

discount rate used in calculating the

modification expense, and the basis for

recognizing a gain or loss related to the

modification 		X		

3	Inventory	27	B/S Note 

Inventory	Report the value of inventory held in

reserve for future sale as either (1) a

component of the inventory line item on

the face of the financial statements with

separate disclosure in footnotes or (2) as a

separate line item on the face of the

financial statements 	X or	X		

3	Inventory	28	B/S Note 

Inventory	Disclose the changes in criteria considered

by management in identifying inventory

held in reserve for future sale 		X		

3	Inventory	29	B/S Note 

Inventory	Report the category "excess, obsolete and

unserviceable inventory" as either (1) a

component of the inventory line item on

the face of the financial statements with

separate disclosure in footnotes or (2) as a

separate line item on the face of the

financial statements 	X or	X		

3	Inventory	30	B/S Note 

Inventory	Disclose the criteria for identifying excess,

obsolete and unserviceable inventory 		X		

3	Inventory	35	B/S Note 

Inventory	Disclose the following:

(1) General composition of inventory 

(2) Basis for determining inventory values,

including the valuation method and any

cost flow assumptions 

(3) Changes from prior year’s accounting

methods, if any 

(4) Balances for each of the following

categories of inventory: inventory held for

current sale, inventory held in reserve for

future sale, excess, obsolete and

unserviceable inventory, and inventory

held for repair unless otherwise presented

on the financial statements 

(5) Restrictions on the sale of material 

(6) The decision criteria for identifying the

category to which inventory is assigned 

(7) Changes in the criteria for identifying

the category to which inventory is assigned 		X		

3	Operating Materials

and Supplies	45	B/S Note 

Inventory	Report the value of operating materials and

supplies held in reserve for future use as

either (1) a component of the operating

materials and supplies line item on the face

of the financial statements with separate

disclosure in footnotes or (2) a separate line

item on the face of the financial statements 	X or	X		

3	Operating Materials

and Supplies	46	B/S Note 

Inventory	Disclose the criteria for identifying

operating materials and supplies held in

reserve for future use 		X		

3	Operating Materials

and Supplies	47	B/S Note 

Inventory	Report the category "excess, obsolete and

unserviceable operating materials and

supplies" as either (1) a component of the

operating materials and supplies line item

on the face of the financial statements with

separate disclosure in footnotes or (2) a

separate line item on the face of the

financial statements. Criteria for

identifying "excess, obsolete and

unserviceable operating materials and

supplies" should also be disclosed	X or	X		

3	Operating Materials

and Supplies	50	B/S Note 

Inventory	Disclose the following:

(1) General composition of operating

materials and supplies

(2) Basis for determining operating

materials and supplies values, including

valuation method and any cost flow

assumptions

(3) Changes from prior year’s accounting

methods, if any

(4) Balances for each of the categories of

operating materials and supplies described

above

(5) Restrictions on the use of material

(6) Decision criteria for identifying the

category to which operating materials and

supplies are assigned

(7) Changes in the criteria for identifying

the category to which operating materials

and supplies are assigned		X		

3	Stockpile Materials	55	B/S Note 

Inventory	Disclose those materials authorized to be

sold as "stockpile materials held for sale"	X or 	X		

3	Stockpile Materials	55	B/S Note 

Inventory	Disclose any difference between the

carrying amount of the stockpile materials

held for sale and their estimated selling

price		X		

3	Stockpile Materials	56	B/S Note 

Inventory	Disclose the following:

(1) General composition of stockpile

materials

(2) Basis for valuing stockpile materials,

including valuation method and any cost

flow assumption

(3) Changes from prior year’s accounting

methods, if any

(4) Restrictions on the use of materials

(5) Balances of stockpile materials in each

category (stockpile materials and stockpile

materials held for sale)

(6) Decision criteria for categorizing

stockpile materials as held for sale

(7) Changes in criteria for categorizing

stockpile materials as held for sale		X		

3	Seized property	62	B/S Note 

Inventory	Disclose seized property other than

monetary instruments		X		

3	Seized Property	66	B/S Note 

Inventory	Disclose the following:

(1) Explanation of what constitutes a

seizure and a general description of the

composition of seized property

(2) Method(s) of valuing seizures

(3) Changes from prior year’s accounting

methods,  if any

(4) Analysis of change in seized property,

including the dollar value and number of

seized properties that are: 

 (a) on hand at the beginning of the year

 (b) seized during the year

 (c) disposed of during the year, and 

 (d) on hand at the end of the year as well

as known liens or other claims against the

property

This information should be presented by

type of seized property and method of

disposition, where material		X		

3	Forfeited Property	78	B/S Note 

Inventory	Disclose the following for forfeited

property, including forfeited property that

cannot be sold due to legal restrictions:

(1) Composition of forfeited property

(2) Method(s) of valuing forfeited property

(3) Restrictions on the use or disposition of

forfeited property

(4) Changes from prior year’s accounting

methods, if any

(5) Analysis of change in forfeited property

providing the dollar value and number of

forfeitures that: 

 (a) are on hand at the beginning of the year 

 (b) are made during the year 

 (c) are disposed of during the year and the

method of disposition, and 

 (d) are on hand at the end of the year  

This information should be presented by

type of property forfeited, where material

(6) If available, an estimate of the value of

property or funds to be distributed to

Federal, State and local agencies in future

reporting periods		X		

3	Foreclosed Property	91	B/S Note 

Inventory	Disclose the following:

(1) Valuation basis used for foreclosed

property

(2) Changes from prior year’s accounting

methods, if any

(3) Restrictions on the use/disposal of the

property

(4) Balances in the categories described

above

(5) Number of properties held and average

holding period by type or category

(6) Number of properties for which

foreclosure proceedings are in process at

the end of the period		X		

3	Commodities 	99	B/S Note 

Inventory	Recognize the commodities as assets and

report them on the face of the Balance

Sheet upon producer's surrender of title to

satisfy a nonrecourse loan or upon

purchase by the agency	X			

3	Commodities	109	B/S Note 

Inventory	General disclosure requirements:

(1) Basis for valuing commodities,

including the valuation method and any

cost flow assumptions

(2) Changes from prior year’s accounting

methods, if any

(3) Restrictions on the use, disposal, or sale

of commodities

(4) An analysis of change in the dollar

value and volume of commodities,

including those: 

 (a) on hand at the beginning of the year

 (b) acquired during the year

 (c) disposed of during the year by method

of disposition

 (d) on hand at the end of the year

 (e) on hand at year’s end and estimated to

be donated or transferred during the

coming period, and 

 (f) the amount and value of commodities

that may be received as a result of surrender of collateral related to

nonrecourse loans outstanding  

The analysis should also show the dollar

value and volume of purchase agreement

commitments		X		

SFFAS	Sub-topic	SFFAS

Para.

No.	Related 

F&C

Reference	Description	Fin.

Stmt.	Footnote	RSSI	RSI

&

OAI

4	Full cost	89	Inst for Stmt

of Net Costs	Report the full costs of outputs in general purpose

financial reports	X			

4	Costs not

Assigned

Programs	92 and

104	Inst for Stmt

of Net Costs	Report on the financial statements as costs not

assigned to programs high level management and

administrative support costs that cannot be

assigned to segments and their outputs.   A

reporting entity may incur costs that are linked to

events other than the production of goods and

services.  These non-production costs should not

be assigned to outputs but should be assigned to

programs, if possible	X			

5	Contingent

Liability	39	B/S Note 

Contingencies	Report as an estimated contingent liability  a

specific amount or a range of amounts.  If some

amount within the range is a better estimate than

any other amount within the range, that amount is

recognized.  If no amount within the range is a

better estimate than any other amount, the

minimum amount in the range is recognized and

the range and a description of the nature of the

contingency should be disclosed	X	X		

5	Contingent

Liability	40	B/S Note 

Contingencies	Disclose a contingent liability if any of the

conditions for liability recognition are not met and

there is at least a reasonable possibility that a loss

or an additional loss may have been incurred		X		

5	Contingent

Liability	41	B/S Note 

Contingencies	Disclose the nature of the contingency and an

estimate of the possible liability, an estimate of the

range of the possible liability, or a statement that

such an estimate cannot be made		X		

5	Pensions	65 and

67	B/S Note 

Pensions and

Other

Retirement

and Other Post

Employment

Benefits	Use the best available actuarial estimates to

calculate the pension expense and liability for

financial reports prepared for the three primary

Federal pension plans.  The administrative entity

should disclose the assumptions used.  Smaller

Federal administrative entities, if they use

assumptions that differ from all of the primary

plans, should explain in a footnote how and why

the assumptions differ from one of those plans		X		

5	Pensions	68	B/S Note

Pensions and

Other

Retirement

and Other

Post-

Employment

Benefits 	Report assets separately from the pension liability. 

Do not report only a net liability.  For investments

in  market-based and marketable securities, the

market value of the investment should be

disclosed		X		

5	Pensions	72	B/S Note

Pensions and

Other

Retirement

and Post-

Employment

Benefits  	The administrative entity shall disclose the

individual components for the net pension expense		X		

5	Other Retirement

Benefits	83	B/S Note

Pensions and

Other

Retirement

and Post-

Employment

Benefits	Report the following for amounts calculated for

financial reports prepared for ORB plans:

(1) General actuarial and economic assumptions

that are consistent with those used for pensions

and

 (2) A health  care cost trend assumption that is

consistent with Medicare projections or other

authoritative sources appropriate for the

population covered by the plan.   The

administrative entity should disclose the

assumptions used		X		

5	Other Retirement

Benefits	85	B/S Note

Pensions and

Other

Retirement

and Post-

Employment

Benefits 	Report assets separately from the ORB liability

rather than merely reporting the net liability.  For

investments in market-based and marketable

securities, the market value of the investment

should be disclosed	X	X		

5	Other Retirement

Benefits	88	B/S Note

Pensions and

Other

Retirement

and Post-

Employment

Benefits	The administrative entity shall disclose the

individual components for the net ORB expense		X		

5	Insurance and

Guarantees	106	Inst for

RSSI 	When financial information pursuant to FASB's

standards on Federal insurance and guarantee

programs conducted by government corporations

is incorporated in general purpose financial reports

of a larger Federal reporting entity, the entity

should report as RSSI what amounts and periodic

change in those amounts should be reported under

the “risk assumed” approach referred to in this

section (see par. 105)			X	

5	Insurance and

Guarantees	117	 B/S	All Federal reporting entities with whole life

insurance programs should follow private sector

standards when reporting the liability for future 

policy benefits	X	X		

5	Insurance and

Guarantee	121	B/S Note 

Insurance

Liabilities	Disclose separately in a footnote all components

of the liability for future policy benefits of whole

life insurance.  Include a description of each

amount and an explanation of its projected use and

any other potential uses		X		

6	General PP&E

Implementation 

Guidance	44	B/S Note 

General PP&E	Disclose in the period that these standards are

implemented, the adjustments, by major class of

PP&E, made to general PP&E and accumulated

depreciation/amortization		X		

6	General PP&E

Disclosure

Requirements	45	B/S Note

General PP&E	Disclose the following information for General

PP&E:

  (1) The cost, associated accumulated

depreciation, and book value by major class  

  (2) The estimated useful lives for each major

class

  (3) The method(s) of depreciation for each major

class

  (4) Capitalization threshold(s), including any

changes in threshold(s) during the period, and     

  (5)  Restrictions on the use or convertibility of

general PP&E   		X		

6	Federal Mission

PP&E	53	Inst for Stmt

of Net Costs 	Recognize as a cost on the statement of net cost

the periodic cost of acquiring, constructing,

improving, reconstructing, or renovating Federal

mission PP&E.  The cost shall be disclosed as

"cost of Federal mission PP&E" on either the face

of the Statement of Net Cost or in the footnotes	X	X		

6	Federal Mission

PP&E	55	B/S Note 

General PP&E	Remove Federal mission PP&E that was

previously recognized on the balance sheet as

assets and contra assets. The amounts removed

should be charged to Net Position.  The amount of

the adjustment should be shown as a "prior period

adjustment" in the statement of changes of net

position.  The amounts removed from the balance

sheet should be disclosed in a footnote		X		

6	Heritage Assets	61	Inst for Stmt

of Net Costs	Recognize as a cost in the period incurred the cost

of improving, reconstructing, or renovating

heritage assets.  Also, in the event that heritage

assets are acquired or constructed, the cost should

be recognized as a cost of the period incurred. 

These costs should be disclosed as "Cost of

Heritage Assets" on either the face of the

Statement of Net Cost or in the footnotes.  The

cost of heritage assets transferred from other

Federal entities should be the book value of the

asset recorded on the transferring entity’s books. 

If the receiving entity does not know the book

value, the fair value should be disclosed in notes

to the statement of net cost.  If fair value is not

estimable, information related to the type and

quantity of assets transferred should be disclosed.   

No amounts of heritage assets acquired through

donation or devise should be recognized in the

cost of heritage assets.  The assets’ fair value, if

known and material, should be disclosed in notes

to the statement of net cost in the year received.  If

fair value is not known or reasonably estimable,

information related to the type and quantity of

assets should be disclosed.	X	X		

6	Heritage Assets	63	B/S Note 

General PP&E	Remove from the balance sheet heritage assets

previously recognized as assets.  The amounts

removed should be charged to Net Position of the

entity.  The amount of the adjustment should be

shown as a “prior period adjustment” in the

statement of changes in net position.  The amounts

removed from the balance sheet should be

disclosed in a footnote		X		

6	Stewardship

Land	69	Inst for

Stmt of Net

Costs	Recognize as a cost in the period incurred the

acquisition cost of stewardship land.   The cost

shall be disclosed as "cost of stewardship land" on

either the face of the Statement of Net Cost or in

the footnotes	X	X		

6	Stewardship

Land	71	Footnote

Disclosures

for Stmt of

Net Costs  	No amounts for stewardship land acquired through

donation or devise should be recognized as a cost

on the statement of net cost.  Its fair value, if 

known and material, should be disclosed in notes

to the statement of net cost.  If fair value is not

estimable, information related to the type and

quantity of assets received should be disclosed in

the year received		X		

6	Stewardship

Land	72	Footnote

Disclosures

for Stmt of

Net Costs	Land may be transferred between Federal entities. 

In some cases, land included in general PP&E

may be transferred to an entity for use as

stewardship land.  In this instance, the cost of

stewardship land transferred from another Federal

entity should be the book value of the land

recorded on the transferring entity’s books.  If the

receiving entity does not know the book value, the

transfer should be disclosed in notes if material. 

In other cases, stewardship land may be

transferred between Federal entities.  Transfers of

stewardship land should be disclosed in the notes

if material 		X		

6	Stewardship

Land	75	B/S Note 

General PP&E	Remove from the balance sheet land previously

recognized as an asset.  The amounts removed

should be charged to Net Position.  The amount of

the adjustment should be shown as a “prior period

adjustment” in the statement of changes in net

position.  The amounts removed from the balance

sheet should be disclosed in a footnote		X		

6	Deferred

Maintenance	79	Inst for Stmt

of Net Costs	Present on the Statement of Net Cost, a line item

for "deferred maintenance" with a note reference

in lieu of a dollar amount. No amounts should be

recognized for deferred maintenance	X			

6	Deferred

Maintenance -

Disclosure

Requirements	80-84	Footnote

Disclosures

related to Stmt

of Net Costs 	Present the following information for all PP&E:

(1) Identification of each major class of asset for

which maintenance has been deferred and 

(2) Method of measuring deferred maintenance for

each major class of PP&E (Amounts disclosed

may be measured using: 

 (a) condition assessment surveys or

 (b) life-cycle cost forecasts)       		X		

6	Cleanup cost for

General PP&E	105	Footnote

Disclosures

related to Stmt

of Changes in

Net Position	The offsetting charge for any liability recognized

upon implementation should be made to Net

Position.  The amount of the adjustment should be

shown as a "prior period adjustment" in any 

Statement of  Changes in Net Position that may be

required.  No amounts should be recognized as expense in the period of implementation.  The

amounts involved should be disclosed and, to the

extent possible, the amount associated with current

and prior periods should be noted		X		

6	Cleanup

Disclosure

Requirements	107-111	B/S Note 

Other

Liabilities	Disclose the following:

(1) Sources of cleanup requirements 

(2) Method for assigning estimated total cleanup

costs to current operating periods 

(3) For cleanup costs associated with general

PP&E, the unrecognized portion of estimated total

cleanup costs

(4)  Material changes in total estimated cleanup

costs due to changes in laws, technology, or plans,

and the portion of the change in estimate that

relates to prior period operations

(5) The nature of estimates and the disclosure of

information regarding possible changes due to

inflation, deflation, technology, or applicable laws

and regulations 		X		

7	Exchange

Revenue	46 & 47	Footnote

Disclosures

related to Stmt

of Net Cost 	Each reporting entity that provides goods or

services to the public or another government entity

should disclose the following:

(1) Differences in pricing policy from the full cost

or market pricing guidance in OMB Circular A-

25, "User Charges," for exchange transactions

with the public

(2) Exchange transactions with the public in which

prices are set by law or executive order and are not

based on full cost or on market price

(3) The nature of intragovernmental exchange

transactions in which the entity provides goods or

services at a price less than the full cost or does

not charge a price at all, with explanations of the

amount and reason for disparities between the

billing and the full cost

(4) The full amount of the expected loss when

specific goods are made to order under a contract,

or specific services are produced to order under a

contract, and a loss on the contract is probable and

measurable  

When disclosing (1) and (2), cautionary language

should be added to the effect that higher prices

based on full cost or market price might reduce the

quantity of goods or services demanded and,

therefore, the difference between revenue received

and such higher prices does not necessarily

provide an indication of revenue foregone.  If a

reasonable estimate is practicable to make, the

entity should provide as other accompanying

information the amount of revenue foregone and

should explain whether, and to what extent, the

quantity demanded was assumed to change as a

result of a change in price.	       	X	             	             

X

7	Non-Exchange

Revenue	64 to 73	Footnote

Disclosures

related to Stmt

of Custodial

Activity

Instructions

for RSI & OAI 	A summary of required disclosures follow:

(1) Basis of accounting

(2) Entities that collect taxes should disclose: 

  (a) accounts receivable 

  (b) material revenue-related transactions 

  (c) cumulative cash collections and refunds by 

tax year and type of tax  

(3) If trust fund revenues are not recorded in

accordance with applicable law, both the

collecting and recipient entities should disclose the

reasons

Entities that collect taxes and duties should

provide the following supplementary information

relating to their potential revenue and custodial

responsibilities: 

(1) The estimated realizable value, as of the end of

the reporting period, of compliance assessments

and, if reasonably estimable, pre-assessment work

in process

(2) If reasonably estimable, other claims for

refunds that are not yet accrued but are likely to be

paid when administrative actions are completed    

(unasserted claims for  refunds should be provided

separately)

(3) The amount of assessments that the entity still

has statutory authority to collect at the end of the

period but that have been written off and thus

excluded from accounts receivable           		                  

    X 		             

X

7	Non-Exchange

Revenue	64 to 73

Con-

tinued	 	(4) If reasonably estimable, the amounts by which

trust funds may be over - or under-funded in

comparison with the requirements of  law   

Recipient entities that are trust funds should

provide the same information as required for

collecting entities in (4) above

Other accompanying information:

(1) A perspective on the income tax burden

(2) Available information on the size of the tax

gap

(3) Tax expenditures related to entity programs

(4) Directed flows of resources related to entity

programs.			 	        

X       

X          

X

7	Budgetary

Information	78	Stmt of

Budgetary

Resources	The reporting entity should provide information

on budgetary resources for each of its major

budget accounts as supplementary information. 

Small budget accounts may be aggregated				X

7	

Budgetary

Information	

83	

Footnote

Disclosures

Related to the

Stmt of

Budgetary

Resources	

Disclose the following information about the

status of budgetary resources:

(1) The net amount of budgetary resources

obligated for undelivered orders at the end of the

period

(2) Available borrowing and contract authority  at

the end of the period 

(3) Repayment requirements, financing sources for

repayment, and other terms of borrowing authority

used

(4) Material adjustments during the reporting

period to budgetary resources available at the

beginning of the year and an explanation thereof

(5) Existence, purpose, and availability of

permanent indefinite appropriations

(6) Information about legal arrangements affecting

the use of unobligated balances of budget

authority

(7) Explanations of any material differences

between the information required by paragraph 77

and the amounts described as "actual" in the

Budget of the United States Government

(8) The amount, and an explanation that includes

identification of balance sheet components, when

recognized unfunded liabilities do not equal the

total financing sources yet to be provided

(9) The amount of any capital infusion received

during the reporting period    	 	

X		

7	Dedicated

Collections	84 	Footnote 

Disclosures

Not Related to

a Specific

Stmt 	Provide separate financial information about

dedicated collections if they are material either to

the reporting entity or to the beneficiaries or

contributors.  The separate information may be

reported on the face of the entity's general purpose

financial statements, or the information may  be

disclosed in the notes to the financial statements	X or	X		

7	Dedicated

Collections	85	Footnote

Disclosures

Not Related to

a Specific 

Stmt 	Report the following information for individual

funds that account for dedicated collections: 

(1) a description of each fund’s purpose, how the

administrative entity accounts for and reports the

fund, and its authority to use those collections

(2) The sources of revenue or other financing for

the period and an explanation of the extent to

which they are inflows of resources to the

government or the result of intragovernmental

flows

(3) Condensed information about assets and

liabilities showing investments in Treasury

securities, other assets, liabilities due and payable

to beneficiaries, other liabilities, and fund balance 

(4) Condensed information on net cost and

changes to fund balance showing revenues by

type, program expenses, other expenses, other

financing sources, and other changes in fund

balance

(5) Any revenues, other financing sources, or cost

attributable to the fund under accounting

standards, but not legally allowable as credits or

charges to the fund	X	X		

7	Dedicated

Collections	86	Footnote

Disclosures

Not Related to

a Specific

Stmt 	The law may require the accounting for a fund to be done in a particular way.  The disclosures

called for by paragraph 85 of SFFAS No. 5 are

required if the fund’s recognition requirements, as

determined by law, are contrary to applicable

accounting standards with respect to certain

revenue, other financing sources, or costs  		X		

7	Dedicated 

Collections

	87	Footnote

Disclosures

Not Related to

a Specific

Stmt 	Most dedicated collections are included in the

financial statements of the entity carrying out the

program and responsible for administration of the

fund.  However, this may not be the case where

collections are outside the budget or are not

otherwise included in the reporting entity under

the concepts of Entity and Display.  In either case,

the information (revenues, other financing

sources, assets, liabilities, and costs of the fund) is

required to be disclosed		X		

8	Heritage Assets	50	Instructions

for

Stewardship

Reporting	Report the following for Heritage Assets: 

(1) Description of each major category

(2) The number of physical units added and

withdrawn from the records during the year and

the end-of-year number of physical units for each

type of heritage asset 

(3) Description of the methods of acquisition and

withdrawal of heritage assets

(4) Condition of the assets unless it is already

reported in a note to the financial statements in

which case a reference to the note should suffice 

(5) A reference to a note to the financial

statements if deferred maintenance is reported for

the assets 			X	

8	Federal Mission

PP&E	68	Instructions

for

Stewardship

Reporting	Report the following for Federal Mission PP&E: 

(1) A description of major types of Federal

mission PP&E by the holding entity and the values

assigned under the valuation method used 

(2) The value of Federal mission PP&E added and

withdrawn during the year, the changes in value

resulting from revaluations of assets held to latest

acquisition cost, and end-of-year value for each

major type of property using the entity’s valuation

method

(3) A description of the methods of acquisition

and withdrawal of Federal mission PP&E at the

major program or category level

(4) Condition of the assets unless it is already

reported in a note to the financial statements; if

this is the case, a reference to the note should

suffice

(5) A reference to the applicable note to the

financial statements if deferred maintenance is

reported for the assets   			X	

8	Stewardship

Land	81	Instructions

for

Stewardship

Reporting	Report the following for Stewardship Land: 

(1) The number of physical units of stewardship

land by category of major use, broken down

within the category by principal holding agency 

(2) Where parcels  have more than one use,  the

predominant use should be considered the major

use.  Where there is no predominant use, a

description of the multiple uses should be

presented

(3) Acquisitions, withdrawals, and ending balance

should be shown by major categories of use and

methods of acquisition and withdrawal identified

(4) The condition of the stewardship land, unless it

is already reported in a note to the financial

statement; if this is the case, a reference to the note

should suffice

(5) A reference to the note to the financial

statements if deferred maintenance is reported for

the  assets			X	

8	Non-Federal

Physical

Property	88	Instructions

for

Stewardship

Reporting	Report the following for Non-Federal Physical

Property:

(1) Annual investment, including a description of

federally-owned physical property transferred to

State and local governments.  Reporting should be

for the year ended as well as for each of the 4

years preceding

(2) Reporting should be at a meaningful category

or level

(3) If expense data are unavailable, outlay data are

permissible for a transition period.  If neither

expense nor outlay data are available for the 5

years, entities need only report expense data for

the current year. At the end of 5 years, entities are

to report expense data 

(4) Reporting should include a description of

major programs involving Federal investments in

non-Federal physical property including a

description of programs or policies under which

non-cash assets are transferred to State and local

governments   			X	

8	Human Capital	95	Instructions

for

Stewardship 

Reporting	Report the following for Human Capital:

(1) Annual investment made in the year ended as

well as in each of the 4 preceding years

(2) If expense data are unavailable, outlay data are

permissible for a transition period.  If neither

expense nor outlay data are available for the 5

years, entities need only report expense data for

the current year.  At the end of 5 years, entities

should report expense data

(3) A narrative description of major education and

training programs considered Federal investments

in human capital should be included			X	

8	Research and

Development	101	Instructions

for

Stewardship

Reporting	Report the following for Research and

Development:

(1) Annual investment made in the year ended as

well as in each of the 4 preceding years

(2) If expense data are unavailable, outlay data are

permissible.  If neither expense nor outlay data are

available, outlay data  are permissible for a

transition period.  If neither expense nor outlay

data are available for the 5 years, entities need

only report expense data for the current year.  At

the end of 5 years, entities should report expense

data

(3) A narrative description of major research and

development programs should be included			X	

APPENDIX 

		CODE - DEPARTMENT			CODE	- DEPARTMENT

		00 - Unknown				54 - Federal Labor Relations Authority

		03 - Library of Congress			55 - Advisory Commission on Intergovernmental 		04 - Government Printing Office			Relations

		05 - General Accounting Office		56 - Central Intelligence Agency

		08 - Congressional Budget Office		57 - Department of the Air Force

		09 - Other Legislative Agencies		58 - Federal Emergency Management Agency

		10 - The Judiciary			59 - National Foundation on the Arts and

		11 - Executive Office of the President		the Humanities

		12 - Department of Agriculture		60 - Railroad Retirement Board

		13 - Department of Commerce		61 - Consumer Product Safety Commission

		14 - Department of Interior		62 - Office of Special Counsel

		15  - Department of Justice		63 - National Labor Relations Board

		16 - Department of Labor			64 - Tennessee Valley Authority

		17 - Department of the Navy		65 - Federal Maritime Commission

		18 - United States Postal Service		67 - United States Information Agency

		19 - Department of State			68 - Environmental Protection Agency

		20 - Department of the Treasury		69 - Department of Transportation

		21 - Department of the Army		71 - Overseas Private Investment Corporation

		22 - Resolution Trust Corporation		72 - Agency for International Development

		23 - United States Tax Court		73 - Small Business Administration

		24 - Office of Personnel Management	74 - American Battle Monuments Commission

		25 - National Credit Union Administration	75 - Department of Health and Human Services

		26 - Federal Thrift Investment Board	76 - Independent Agencies

		27 - Federal Communication Commission	78 - Farm Credit

		28 - Social Security Administration	80 - National Aeronautics and Space Administration

		29 - Federal Trade Commission		83 - Export-Import Bank of the United States

		31 - U.S. Nuclear Regulatory Commission	84 - Armed Services Retirement Home	

		33 - Smithsonian Institution		86 - Department of Housing and Urban

		34 - International Trade Commission		Development

		36 - Department of Veterans Affairs	88 - National Archives and Records Administration

		41 - Merit Systems Protection Board	89 - Department of Energy

		42 - Pennsylvania Avenue Development	90 - Selective Service System

			Corporation			91 - Department of Education

		45 - U.S. Equal Employment Opportunity	93 - Federal Mediation and Conciliation Service

			Commission			94 - Arms Control and Disarmament Agency

		46 - Appalachian Regional Commission	95 - Independent Agencies

		47 - General Services Administration	96 - U.S. Army Corps of Engineers

		48 - Independent Agencies		97 - Office of the Secretary of Defense -

		49 - National Science Foundation			Defense Agencies

		50 - Securities and Exchange Commission

		51 - Federal Deposit Insurance Corporation

BUDGET FUNCTIONAL CLASSIFICATIONS

	050 - National Defense

	150 - International Affairs

	250 - General Science, Space and Technology

	270 - Energy

	300 - Natural Resources and Environment

	350 - Agriculture

	370- Commerce and Housing Credit

	400 - Transportation

	450 - Community and Regional Development

	500- Educational, Training, Employment, and Social Services

	550 - Health

	570 - Medicare

	600 - Income Security

	650 - Social Security

	700 - Veterans Benefits and Services

	750 - Administration of Justice

	800 - General Government

	900 - Net Interest 	

							BUDGET FUNCTIONAL CLASSIFICATIONS

National Defense - 050

Department

Codes	12	15	17	21	56	57	58	69	89	90	95	96	97	97	97

Treasury

 Account

Symbols	2034	0105	0017	0021	3400	0001	0100	0103	0228	0400	0400	2020	0040	0510	4965

		8116	0380	0702		0704	0101	0242	0233		3900		0097	0535	5187

			0703	1705		3010		0510	0240				0100	0706	5188

			1105	2010		3020		1205	0242				0101	0790	5189

			1106	2020		3080		1710	0243				0102	0800	5193

			1107	2031		3300		1711	0244				0103	0801	5195

			1108	2032		3400		1752	5231				0104	0803	5196

			1109	2033		3500		2050					0105	0804	7060

			1205	2034		3600		2085					0106	0805	8164

			1235	2035		3700		3300					0107	810	8165

			1236	2040		3730		3400					0108	0819	8168

			1319	2050		3740		3730					0110	0827	8311

			1405	2060		3830		3830					0115	0828	8335

			1453	2065		3840							0116	0829	9098

			1506	2070		3850							0130	0831	

			1507	2080		4930							0131	0832	

			1508	2085		8418							0132	0834	

			1611	2086		8928							0133	0836	

			1804	4094									0134	0838	

			1806	4528									0300	0839	

			1810	5098									0350	1105	

			3980	5194									0360	3910	

			4557	5286									0370	4080	

			4930	8064									0390	4090	

			5095	8174									0400	4093	

			5185	8238									0450	4116	

			8008	8927									0460	4166	

			8423										0491	4167	

			8716										0492	4179	

			8723										0493	4555	

			8730										0494	4930	

			8733										0495	4931	

									International Affairs - 150

Department Codes	3	11	12	15	16	19	19	20	21	34	48	49	67	69	71	72	72	75	83	89	94	95	96	97

Treasury Accout

Symbols	1010	0003	2273	0100	1010	0000	1124	4444	1037	0100	8338	0056	0113	8054	0100	0113	4343	6875	0100	0113	0100	1145	0204	1080

	1037	0005	2274	0104	1021	0040	1125		1080			1014	0201	8264	4030	0400	4344	8250	4027	1005		1146		1081

	1093	0011	2277	1022		0046	1126		1081			1021	0202	8265	4074	0401	4345		4028	1014		1300		1082

		0043	2278	1035		0100	1143		1082				0203	8371	4075	0402	4590		4161	1021		3700		1084

		0050	2279	1037		0107	1151						0204	8502	4184	0535	5318		4162			8025		

		0072	4049	1093		0113	4107						0206	8632	6000	1000	8502					8268		

		0073	4078	1500		0114	4519						0208			1005	8824					8276		

		0074	4143			0118	5151						0209			1007								

		0076	5332			0120	5177						0210			1010								

		0077	5333			0201	8821						0211			1012								

		0078				0520	8822						0212			1013								

		0079				0522							0300			1014								

		0082				0523							0301			1021								

		0084				0524							0400			1023								

		0086				0525							0535			1024								

		0088				0529							1014			1025								

		0089				0535							1035			1032								

		0091				0538							8166			1035								

		0100				0540							8167			1036								

		1001				0545							8271			1037								

		1008				0600							8272			1038								

		1080				0601							8276			1040								

		1084				1000										1093								

		3100				1005										1095								

		4116				1010										1500								

		4121				1021										4103								

		4122				1022										4119								

		4174				1032										4137								

		8242				1037										4175								

		8243				1071										4336								

		8245				1075										4340								

		8246				1091										4341								

						1093										4342								

	     General Science, Space and Technology - 250

Deparment Codes	49	80	89

Treasury Account Symbols	0000	0103	0222

	0100	0105	3880

	0106	0107	

	0150	0108	

	0180	0109	

	0300	0110	

	0550	0111	

	0551	0112	

	1099	8980	

	8960	9000	

Energy - 270

Department

Codes	12	20	31	48	64	86	88	89	95	96

Treasury Account

Symbols	0215	0112	0200	0500	4110	0224	0114	5227	4054	0224

	1230	0114	0300	0700			0206	5228		4045

	1232		5280				0212	5229		

	3100						0213	5230		

	3103						0214	5289		

	3104						0215	5649		

	4142						0216	5653		

	4208						0217	8575		

	4230						0218	8576		

	5000						0219			

							0224			

							0226			

							0234			

							0235			

							0236			

							0302			

							0303			

							0304			

							0305			

							0894			

							1424			

							2242			

							2245			

							2249			

							4045			

							4180			

							4452			

							4563			

							5068			

							5069			

							5178			

							5180			

							5226			

								Natural Resources and Environment -300

Departmen t Codes	12	12	12	13	14	14	14	14	14	16	19	21	57	58	68	69	75	95	96

Treasury Account

Symbols	0174	3319	8034	1450	0100	1110	5016	5132	8154	8145	1069	1105	5095	8145	0100	0230	8145	2200	1039

	0200	3320	8046	1452	0101	1116	5017	5133	8216		1078	5095			0103	1036		2300	1105

	0500	3336	8083	1458	0102	1118	5018	5134	8287		1082	5285			8145	1039		2600	3112

	0683	3337	8203	4313	0103	1119	5020	5137	8356		1087					1103		2602	3121

	1000	3800	8210	4316	0104	1120	5029	5138	8369							1106		8298	3122

	1010	4605		8145	0105	1121	5032	5140	8370							1110			3123

	1066	5000			0105	1125	5033	5143	8562							1116			3124

	1069	5004			0105	1132	5035	5150	8565							5018			3125

	1072	5005			0105	1141	5038	5157	9000							8185			3126

	1080	5008			0107	1145	5043	5165								8312			4902

	1100	5010			0119	1165	5044	5169								8314			5066

	1103	5015			0120	1611	5045	5173								8349			5125

	1104	5072			0500	1612	5048	5174											8145

	1105	5168			0501	1618	5049	5198											8333

	1106	5202			0535	1641	5050	5199											8861

	1107	5204			0667	1643	5053	5241											8862

	1108	5206			0684	1650	5055	5244											8863

	1110	5207			0685	1692	5056	5252											8868

	1111	5208			0787	1699	5057	5413											

	1114	5212			0804	1801	5058	5656											

	1115	5214			0959	1917	5059	5662											

	1116	5215			1031	2701	5060	5663											

	1117	5216			1036	4053	5063	5666											

	1125	5217			1038	4079	5064	5667											

	1127	5218			1039	4081	5065	5884											

	1400	5219			1042	4229	5067	5896											

	1600	5220			1043	4523	5076	5898											

	2045	5223			1046	4524	5092	8037											

	2067	5224			1082	4525	5103	8052											

	2268	5268			1101	4547	5108	8069											

	2701	5896			1105	4556	5109	8070											

	3315	6000			1106	5003	5110	8083											

	3318	8028			1109	5015	5129	8151											

									Agriculture - 350

Department Codes	12	12	12	48	78

Treasury Account

Symbols	0005	1400	4050	0057	4131

	0012	1401	4085		4132

	0014	1404	4140		4136

	0115	1500	4144		

	0116	1501	4177		

	0117	1600	4212		

	0118	1601	4213		

	0119	1701	4336		

	0120	1801	4337		

	0121	1981	4338		

	0122	2086	4542		

	0123	2100	4609		

	0124	2300	5000		

	0125	2400	5070		

	0126	2500	5161		

	0127	2501	5205		

	0128	2600	5221		

	0129	2701	5410		

	0130	2707	6000		

	0150	2800	8015		

	0160	2900	8044		

	0170	3000	8101		

	0300	3200	8137		

	0500	3300	8203		

	0502	3314	8214		

	0503	3318	8218		

	0600	3320	8223		

	0601	3336	8225		

	0706	3501	8226		

	0900	3505	8227		

	1080	3635	8232		

	1140	3701	8412		

	1336	3800			

							Commerce and Housing Credit - 370

Department Codes	3	9	12	13	13	18	19	20	22	25	27	29	47	48	50	51	73	76	86	95

Treasury Account

Symbols	0102	0310	2071	0120	5124	1001	5116	4108	1500	4056	0100	0100	4549	0960	0100	4064	0100	0800	0183	3750

	5175		2080	0126	5139	1004	5121	8413	4055	4468	0300			2900		4065	0200	8095	0186	4039

			2081	0160	8501	4020				4472	3800					4066	1154		0200	5026

			4141	0201							4133					4067	4147		0223	9514

			4214	0300							5000						4148		4016	

			4215	0401							5183						4149		4070	

			4216	0450							6000						4154		4072	

			6000	0500													4156		4077	

				0515													8466		4105	

				0525															4115	

				0550															4238	

				0700															4240	

				1006															4242	

				1100															4587	

				1250															5270	

				1456															5271	

				1457															5301	

				1459																

				1500																

				1805																

				4295																

				4314																

				4323																

				4324																

				4417																

				4511																

				4512																

				4564																

				4650																

				5119																

				5120																

				5122																

				5123																

									Transportation - 400

Department Codes	12	14	65	69	69	69	69	69	69	69	80	95	97

	8029	0592	0100	0000	0521	0567	0717	4089	8020	8378	0113	0310	1301

		8083		0102	0522	0568	0720	4120	8026	8380		0311	

		8215		0104	0524	0569	0722	4164	8029	8381		4061	

				0117	0525	0570	0723	4183	8048	8382		4073	

				0118	0526	0571	0725	4186	8049	8386		8969	

				0119	0527	0572	0726	4200	8057	8390			

				0122	0528	0573	0730	4249	8065	8402			

Treasury Account

Symbols				0123	0529	0574	0745	4301	8066	8420			

				0124	0530	0575	0747	4302	8076	8428			

				0130	0532	0582	0750	4303	8081	8503			

				0142	0533	0583	0755	4304	8082	8533			

				0150	0534	0584	1119	4411	8083	8547			

				0155	0535	0585	1120	4420	8087	8548			

				0200	0536	0586	1121	4422	8102	8552			

				0201	0537	0587	1122	4520	8103				

				0240	0540	0588	1123	4522	8104				

				0241	0543	0590	1124	4535	8106				

				0242	0546	0592	1127	4562	8107				

				0243	0549	0593	1128	4743	8108				

				0244	0551	0594	1129	5000	8120				

				0247	0552	0595	1136	5172	8121				

				0301	0553	0596	1137	5282	8147				

				0305	0555	0597	1301	6000	8149				

				0501	0556	0598	1303	6050	8191				

				0502	0557	0650	1334	6875	8215				

				0503	0560	0651	1399	8001	8304				

				0505	0561	0700	1708	8002	8350				

				0506	0562	0702	1709	8009	8353				

				0507	0563	0703	1750	8014	8363				

				0516	0564	0704	1751	8016	8374				

				0518	0565	0707	2500	8017	8375				

				0519	0566	0714	3800	8019	8376				

						Community and Regional Development - 450

Department Codes	12	12	13	14	16	20	42	46	48	58	69	73	75	86	89	91	95	96

Treasury Account

Symbols	0200	4231	0125	0200	2050	1881	0100	0200	1950	0104	0200	1152	0200	0108	0200	0200	2500	0200

	1231	4233	0128	2100		4088	0102		8321	0105	2051	4150		0162				2050

	1900	5000	2050	2204			4084			0300		4153		0170				2301

	1901	8139	4406	2301			8112			4232				0187				

	1902			2303						4234				0189				

	1903			2305						4235				0198				

	1905			2368						4236				0200				

	1951			2369						4243				0220				

	1952			2623						8200				0222				

	1980			2627						8244				4015				

	1982			2628										4096				

	2001			2635										4097				

	2003			4409										4586				

	2046			4410										8093				

	2050			4415														

	2065			4416														

	2066			5051														

	2069			5130														

	3105			5166														

	3108			5197														

	3316			8060														

	3400			8176														

	4155			8327														

	4176			8365														

	4202			8366														

	4210			8368														

	4218			8563														

	4219																	

	4223																	

	4225																	

	4226																	

	4227																	

	4228																	

						Education, Training, Employment, and Social Services - 500

Department Codes	3	13	14	16	20	33	44	47	48	59	63	75	76	80	86	91	91	93	95

Treasury Account

Symbols	0101	0527	0174	0104	0151	0100	0103	0133	0400	0100	0100	0137	8187	8550	0156	0101	4252	0100	0103

	0141	0551	1509	0105	2900	0102	8981		2950	0200		0142		8978		0102	4253		0600

	0146	0552	1515	0106		0129				0300		1504				0104	8257		2000

	3900		1550	0165		0132				8040		1505				0200	8258		2400

	5075		1552	0172		0133				8050		1508				0201	8324		2650

	8022			0174		0302				8080		1509				0210			2700

	8031			0175		0303						1512				0220			2701

	8032			0200		0400						1534				0230			2720

	8208			0400		8190						1536				0231			2721

	8833			1505		9560						1545				0240			3500

	9566			1509								4552				0241			3800

				4601												0242			8077

				8131												0243			8078

				8289												0300			8267

																0301			8281

																0400			8282

																0500			8296

																0600			8615

																0601			8981

																0602			

																0603			

																0800			

																0900			

																1000			

																1021			

																1100			

																1300			

																1500			

																1700			

																1901			

																4248			

																4250			

																4251			

					Health - 550

Department

Codes	12	16	24	61	75	75	75	95

Treasury Account

Symbols	1807	0400	0206	0100	0008	0888	5146	2100

	3700	1200	8440		0140	0889	5148	2800

	3800	8445	8445		0200	0890	8073	3400

					0320	0891	8175	

					0340	0892	8247	

					0350	0893		

					0365	0894		

					0379	0895		

					0390	0943		

					0391	1060		

					0511	1101		

					0512	1102		

					0565	1104		

					0566	1300		

					0600	1312		

					0601	1361		

					0603	1362		

					0807	1435		

					0819	1700		

					0838	3903		

					0843	3921		

					0844	3966		

					0846	4304		

					0848	4305		

					0849	4306		

					0851	4307		

					0862	4309		

					0872	4420		

					0873	4430		

					0884	4503		

					0885	4552		

					0886	4554		

					0887	5071		

Medicare - 570

Department

Code	75

Treasury Account

Symbols	0580

	8004

	8005

	8393

									Income Security - 600

Department Codes	3	11	12	13	16	19	20	24	28	48	51	58	60	67	72	75	84	86	97

Treasury Account

Symbols	8339	8345	0137	8344	0178	8186	1810	0500	0406	0020	1500	0103	0110	8341	8342	0120	8522	0129	8097

			1953		0179	8340		8135	0409	0030			0111			0122		0143	

			2002		0326			8424					0113			0128		0148	

			2004		0327								8010			0140		0163	

			2006		1500								8011			1500		0164	

			2009		1521								8012			1501		0178	

			2064		1700								8018			1502		0181	

			2070		4204								8051			1503		0188	

			3502		5155								8236			1511		0192	

			3503		8042								8237			1515		0195	

			3505		8130											1520		0196	

			3506		8134											1550		0197	

			3507		8144											1552		0204	

			3508													1553		0205	

			3510															0206	

			3512															0218	

			3539															0219	

			5209															0221	

																		0308	

																		0310	

																		0311	

																		0312	

																		0316	

																		4041	

																		4042	

																		4043	

																		4044	

																		4058	

																		4071	

																		4098	

																		4104	

																		4588	

	     Social Security - 650

Departmen

t Code	28

Treasury Account

Symbols	0400

	0404

	8006

	8007

	8704

Veterans Benefits and Services - 700

Department Codes	20	21	36	36	74	95	97

Treasury Account

Symbols	0501	1805	0102	4112	0100	0300	8098

			0103	4113	0101	0869	

			0110	4118	8569	5000	

			0111	4125		5113	

			0120	4126		8290	

			0129	4127		8293	

			0137	4128			

			0144	4129			

			0151	4130			

			0152	4138			

			0160	4537			

			0161	4538			

			0163	4539			

			0170	5014			

			0181	8126			

			0183	8128			

			0200	8129			

			1024	8132			

			1025	8133			

			1114	8150			

			1118	8180			

			1119	8455			

			1120				

			4009				

			4010				

			4012				

			4013				

			4014				

			4018				

			4023				

			4024				

			4025				

			4048				

										Administration of Justice - 750

Department Codes	11	15	15	20	45	48	75	86	91	95

Treasury Account

Symbols	8607	0128	4500	0104	0100	0052	0135	0144	0700	0100

		0129	4526	0105	4019	0950	5041		1400	1900

		0130	5041	0117		1090	8605			3200

		0200	5042	0173			8606			

		0311	5073	0602						

		0319	5086	0603						

		0322	5087	0604						

		0323	5088	0607						

		0324	5089	0608						

		0327	5094	0609						

		0328	5126	1000						

		0332	5131	1003						

		0334	5450	1407						

		0339	5451	1408						

		0401	6000	1409						

		0403	8393	5693						

		0404	8408	5694						

		0405	8500	5695						

		0500	8585	5697						

		0930	8586	8360						

		1003	8591	8526						

		1004	8593	8527						

		1010	8594	8528						

		1020	8595	8529						

		1060	8596	8531						

		1061	8600	8534						

		1100	8602	8789						

		1101	8603	8870						

		1217	8608							

		1218								

		1219								

		3800								

		3845								

								General Government - 800

Department Codes	3	4	5	8	9	11	12	13	14	15	16	19	20	24	29	31

Treasury Account

Symbols	0127	0201	0107	0100	0110	0001	9921	4542	0118	0329	0535	4542	0101	0100	4542	1093

		0203			0700	0020			0412	4542	4542		0106	0200		4542

		4505			1050	0037			0414				0108	0400		

		9000			1450	0038			0415				0110	4571		

					1600	0061			0416				0115			

					8094	0109			0418				0116			

					8270	0110			1114				0137			

					8275	0210			1691				0155			

					8300	0211			4542				0171			

						0300			5091				0176			

						0400							0177			

						1070							0560			

						1073							0562			

						1453							0911			

						1454							0912			

						1457							0913			

						1900							0919			

						2000							1706			

						2200							1710			

						2600							1801			

						2700							4159			

						3963							4413			

						5001							4501			

						8240							4502			

						8241							4521			

													4560			

													4561			

													5081			

													5407			

													5432			

													5687			

													5737			

													8532			

													8790			

								General Government - 800 (continued)

Department Codes

	41	47	48	54	55	58	62	67	69	75	76	86	88	89	95	96	97

Treasury Account

Symbols	0100	0105	0961	0100	0100	4188	0100	1010	0505	4542	0054	4542	0300	4542	0650	4542	4542

	5000	0107	1001		8155			1037	0535		0600		0301	5105	1000		

		0108	1100						4542		0700		8127		1050		

		0110	1500								8092		8436		1100		

		0114	1800												1600		

		0116	2101												2150		

		0118	2450												2151		

		0533													2350		

		0535													3300		

		0900													5000		

		4530													8279		

		4540													8294		

		4542															

		4548															

		5250															

		5254															

		8198															

Interest - 900

Department Codes	20	21	75

Treasury Account

Symbols	0550	8063	8248

	1850		8249

	1851		8253

	1852		8254

	1860		8888

	1877		8889

	8902		

	TECHNICAL AMENDMENTS

TO

OMB BULLETIN NO. 97-01,  

		FORM AND CONTENT OF 

	AGENCY FINANCIAL STATEMENTS

	TABLE OF CONTENTS

REQUIRED SUPPLEMENTARY INFORMATION			3

	Deferred Maintenance			3

	Intra-governmental Amounts			3

		Intra-governmental Assets		5

		Intra-governmental Liabilities		6

		Intra-governmental Earned Revenues and Related Costs			7

		Intra-governmental Non-exchange Revenues		7

INSTRUCTIONS FOR THE BALANCE SHEET		8

	Other Assets			8

	Environmental and Disposal Costs		8

	Benefits Due and Payable		8

	Other Liabilities		8

	Commitments and Contingencies		9

INSTRUCTIONS FOR OPTIONAL BALANCE SHEET		10

	Entity and Non-entity Assets		10

	Negative Subsidies and Downward Re-Estimates of Subsidy		10

	Liabilities Covered and Not Covered by Budgetary Resources		10

	Federal Employee and Veterans’ Benefits			10

OPTIONAL BALANCE SHEET FORMAT		11

NOTES TO OPTIONAL BALANCE SHEET			13

	Non-entity Assets		13

	Fund Balance with Treasury		14

	Cash, Foreign Currency and Other Monetary Assets		15

	Accounts Receivable		16

	Other Assets			16

	Liabilities Not Covered by Budgetary Resources		17

	Other Liabilities		18

	Federal Employee and Veterans’ Benefits		19

INSTRUCTIONS FOR THE STATEMENT OF NET COST

	Footnote Disclosure Related to the Statement of Net Cost			20

	Gross Cost and Earned Revenue by Budget Functional Classification		20

INSTRUCTIONS FOR THE STATEMENTS OF BUDGETARY RESOURCES

	AND FINANCING		21

	REQUIRED SUPPLEMENTARY INFORMATION

Deferred Maintenance.  Deferred maintenance is maintenance that was not performed when it should have been or was scheduled to be performed and that is delayed until a future period. 

SFFAS No. 14, Amendments to Deferred Maintenance Reporting, modifies the presentation of deferred maintenance information in the Annual Financial Statement.  Before amendment, this information would have been presented in association with the statement of net cost.  As

amended, the standards require that deferred maintenance information be included as required

supplementary information rather than as a note disclosure.  Also, the line item for “deferred

maintenance” would no longer be required on the statement of net cost with a reference to the

note disclosure.

For general property, plant, and equipment (PP&E), national defense PP&E, heritage assets, and

stewardship land, the following information related to deferred maintenance shall be reported as

required supplementary information:

∙	Identification of each major class of asset for which maintenance was deferred, and

∙	The method of measuring deferred maintenance for each major class of asset.  See SFFAS Nos. 6 and 14 for detailed guidance on the extent of the disclosures for the condition

assessment survey or the total life-cycle cost method.  Either method may be used for

measuring deferred maintenance.

Management may elect to present stratification of critical and noncritical amounts of

maintenance needed to return each major class of asset to its acceptable operating condition.  If

management elects to make this disclosure, the disclosure should include management's

definition of critical and noncritical maintenance.  See SFFASs No. 6 and 14.  

Intra-governmental Amounts.  Intra-governmental amounts represent transactions between federal entities included in the Financial Report of the United States Government (formerly the Consolidated Financial Statements of the United States Government).  These transactions include activity (consolidated/net of intra-entity transactions) with federal CFO Act and non-CFO Act entities as identified in the Treasury Financial Manual. 

Report, as required supplementary information, intra-governmental amounts for: (1)  assets; (2) 

liabilities; (3)  non-exchange revenue; and, (4)  for certain reporting entities, earned revenue from

trade (buy/sell) transactions along with the gross cost to generate such revenue.  Report intra- governmental assets, liabilities, earned revenue from trade transactions and non-exchange

revenue by trading partner (reciprocal federal entity).  Report intra-governmental gross cost to generate earned revenue from trade transactions by budget functional classification.  Intra- governmental asset and liability categories reported as required supplementary information

should agree with the intra-governmental asset and liability line items reported on the balance

sheet.

The intra-governmental supplementary information may be limited to the consolidated agency- wide financial statements.  That is, only the 24 executive departments and agencies covered by

this bulletin (see Appendix A of OMB Bulletin No. 98-08, and subsequent issuances) are

required to report intra-governmental supplementary information in their general purpose federal

financial report.  The intra-governmental supplementary information reporting requirement does not extend to Federal components (see Appendix B of OMB Bulletin No. 98-08, and subsequent

issuances) required to prepare financial statements.  All amounts should be net of intra-entity transactions (consolidated).

Transactions with components of federal departments or agencies should not be reported

separately but should be included in the activity reported for the federal department or agency. 

For example, Food and Nutrition Service, Forest Service, and Rural Development Mission Area

are not separate federal departments or agencies but are components of the U.S. Department of

Agriculture (USDA), which is a federal department. Transactions with Food and Nutrition

Service, Forest Service, and Rural Development Mission Area would be included in the supplementary information reported for USDA.

For fiscal years beginning after September 30, 1998 (FY 1999), reporting entities shall reconcile with their trading partners the four fiduciary transactions identified in Treasury’s Intra- governmental Fiduciary Transactions Accounting Guide.  The fiduciary transactions include investments in federal securities issued by the U.S. Department of the Treasury Bureau of the

Public Debt; borrowings from Treasury and the Federal Financing Bank; transactions with the

Department of Labor relating to the Federal Employees’ Compensation Act; and transactions

with the Office of Personnel Management relating to employee benefit programs.  Furthermore,

reporting entities are encouraged to reconcile with their trading partners other intra-governmental asset, liability, and revenue amounts reported in the required supplementary information.  Balances reported for “other” asset or liability categories and individual transactions that collectively comprise less than 20 percent of the total asset and liability categories may be

excluded from reconciliation. 

For fiscal years beginning after September 30, 1999 (FY 2000 and beyond), reporting entities shall reconcile intra-governmental asset, liability, and revenue amounts reported in the required supplementary information with their trading partners at least annually as of the fiscal year end (September 30).  Quarterly reconciliations are encouraged.  Balances reported for “other” asset or liability categories and individual transactions that collectively comprise less than 20 percent of

the total asset and liability categories may be excluded from reconciliation.

	Intra-governmental Assets:  Intra-governmental assets reported as required supplementary information should agree with the intra-governmental asset line items and totals on the reporting

entity’s consolidated agency-wide balance sheet.  For each intra-governmental asset line item on

the consolidated agency-wide balance sheet, a corresponding column heading should be reported

in the intra-governmental assets supplementary information which identifies the trading partner

balances that make up the line item.  Reporting entities may aggregate trading partners whose

individual totals for a particular asset category collectively comprise less than 20 percent of the

total asset line item category.  If intra-governmental transactions with a trading partner are

material in one asset line item category but immaterial in another asset line item category, report

transactions with the trading partner for each asset line item category.

For example, assume a reporting agency has the following intra-governmental assets:  Fund Balance with the U.S. Treasury-$200; Accounts Receivable-$100 (Agency A-$82, Agency B-$9,

Agency C-$4, Agency D - $5); Loans receivable-$100 (Agency A - $5, Agency B-$90, Agency

C-$5); Investments-$100 (Agency A-$32, Agency B-$50, Agency C-$18); and  Other-$15

(Agency A-$2, Agency B-$15, Agency C-$2, Agency D - $1).  In this case, the reporting entity’s

intra-governmental assets may be presented in the supplementary information as follows (this

example is for illustrative purposes only):

Intra-governmental assets:

Trading	Fund balance	Accounts	Loans

Partner	with Treasury	receivables	receivable	Investments	Other

U.S. Treasury	  $200 		     - 		     -		       -		      -

Agency A	      -		$  82		      5		   $ 32		 $   2

Agency B	      - 	    	      9		$  90		      50		    15

Other 		      -      	      9 		      5		      18	                  3 

Total		   $200    	$100		$100		  $100		 $  20

	Intra-governmental Liabilities:  Intra-governmental liabilities reported as required supplementary information should agree with the intra-governmental liability line items and

totals on the reporting entity’s consolidated agency-wide balance sheet.  For each intra-

governmental liability line item on the consolidated agency-wide balance sheet, a corresponding

column heading should be reported in the intra-governmental liabilities supplementary

information which identifies the trading partner balances that make up the line item.  If intra-

governmental transactions with a trading partner are material in one liability line item category

but immaterial in another liability line item category, report transactions with the trading partner

for each liability line item category. 

Trading		Accounts		Debt/borrowings

Partner		payable		from other agencies		Other

Agency A		    xxx			    xxx				  xxx

Agency B		    xxx			    xxx				  xxx

Agency C		    xxx			    xxx				  xxx		

Other			    xxx			    xxx				  xxx

Total			    xxx			    xxx				  xxx

	Intra-governmental Earned Revenues and Related Costs:  For FY 1999, agencies with total intra-governmental earned revenues from trade transactions (net of intra-entity activity)

greater than $2 billion shall report such intra-governmental revenues by trading partner.  For FY

2000,  agencies with total intra-governmental earned revenues from trade transactions (net of

intra-entity activity) greater than $500 million shall report such revenues by trading partner.  Agencies reporting intra-governmental earned revenues should also report, by budget functional classification, the gross cost of goods, services, and other transactions which generated the intra- governmental earned revenues.  For example, a providing/selling agency should report the gross cost of providing products or services to an acquiring agency.

Trading Partner						Earned revenue			

Agency A				  			   	 xxx		 	 		

Agency B							   	 xxx			 		

Agency C							   	 xxx			 		

Agency D					 		  	 xxx			 		

Total 						   			 xxx			 				

								    Gross Cost to 

Budget Functional Classification				Generate Revenue		

Classification A						   	 xxx		 	 		

Classification B						   	 xxx			 		

Classification C						  	 xxx			 		

Classification D				  			 xxx			 		

Total		 						  	 xxx			 				

	Intra-governmental Non-exchange Revenue: Agencies shall report, by trading partner, intra-governmental non-exchange revenues transferred in and vain  out.    

Trading							Non-exchange Revenue

Partner							Transfers-In     Transfers-Out 

Agency A							     xxx		     xxx

Agency B							     xxx		     xxx

Agency C							     xxx		     xxx	

Total								     xxx		     xxx

	INSTRUCTIONS FOR THE BALANCE SHEET 

The following amendments to the balance sheet clarify form and content guidance previously

issued by OMB.  Also, Benefits Due and Payable is required to be separately reported from

Other Liabilities.

Other Assets.  The “Other” assets category shall include assets that are not reported in a separate category on the face of the balance sheet.  An asset category that does not warrant separate recognition on the face of the balance sheet because management has determined that the balance

for the category is not significant, shall be included in the “Other” assets line item and disclosed

in the notes to the financial statement.

Environmental and Disposal Costs.  SFFAS No. 5 provides criteria for recognizing a contingent liability and shall be applied to determine if cleanup costs should be recognized as

liabilities and/or disclosed in the notes.  SFFAS No. 6 supplements the liability standard by

providing guidance for recording cleanup costs related to general PP&E and stewardship assets

used in Federal operations.  The guidance applies to cleanup costs from Federal operations

known to result in hazardous waste which the Federal Government is required by Federal, State

and/or local statutes and/or regulations to cleanup.  Depending on the materiality of the amount,

the liability for cleanup costs may be displayed separately or included with other liabilities.  The

footnote disclosures required for liabilities associated with cleanup costs are also described in

SFFAS No. 6.

Benefits Due and Payable.  These are amounts owed to program recipients or medical service providers as of the balance sheet date that have not yet been paid.  These amounts include payables by the Federal entity for benefits, goods or services provided under the terms of a

benefits program (other than Federal employee and veterans’ benefits programs), whether or not

such amounts have been reported to the Federal entity (e.g., estimated payments due to health

providers for services that have been rendered and that will be financed by the Federal entity but

have not yet been reported to the Federal entity).  Benefit programs reported on this line item

include, but are not limited to, Federal Old-Age and Survivors Insurance, Federal Hospital

Insurance (Medicare Part A), Federal Supplemental Medical Insurance (Medicare Part B), Grants

to States for Medicaid, Federal Disability Insurance, Supplemental Security Income, Railroad

Retirement, Unemployment Insurance, and Black Lung.

Other Liabilities.  This line item covers liabilities that are not recognized in specific categories.  It includes (but is not limited to): capital leases, insurance, advances and prepayments, deposit

fund amounts held in escrow, and accrued liabilities related to ongoing continuous expenses such

as Federal employee salaries and accrued employee annual leave.  This item also covers

estimated losses for claims or other contingencies if (1) a past event or exchange transaction has

occurred (e.g., a Federal entity has breached a contract with a non-Federal entity) as of the date

of the statements, (2) a future outflow or other sacrifice of resources is probable, and (3) the

future outflow or sacrifice of resources is measurable (i.e., the amount can be reasonably

estimated).  Do not include cleanup costs which shall be reported as environmental and disposal

costs.  Examples of claims or other contingencies include: (1)  indemnity agreements -- reimbursements due to licensees or contractors for losses incurred in support of Federal

activities; (2) adjudicated claims -- claims against the Federal Government that are in the process

of judicial proceedings; and (3) commitments to international institutions -- payments due to international financial institutions.  Separate reporting of items within other liabilities is

appropriate if the amounts are material.

Commitments and Contingencies.  A loss contingency is an existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an entity.  The uncertainty should

ultimately be resolved when one or more future events occur or fail to occur.  The likelihood that

the future event or events will confirm the loss or the incurrence of a liability can range from

probable to remote.  SFFAS No. 5, as amended by SFFAS No. 12, contains the criteria for

recognition and disclosure of contingent liabilities. In addition to the contingent liabilities

required by SFFAS No. 5, the following shall also be disclosed:  (1) an estimate of obligations

related to canceled appropriations for which the reporting entity has a contractual commitment

for payment, and (2) amounts for contractual arrangements which may require future financial

obligations (commitments), e.g., undelivered orders.

INSTRUCTIONS FOR OPTIONAL BALANCE SHEET

For FYs 1999 and 2000, the balance sheet may be simplified.  That is, entity and non-entity assets may be combined on the face of the balance sheet and non-entity assets shall be disclosed

in the footnotes.  Also, liabilities covered by budgetary resources and liabilities not covered by

budgetary resources may be combined on the face of the balance sheet and liabilities not covered

by budgetary resources shall be disclosed in the footnotes.

This technical amendment is optional for FYs 1999 and 2000.  If elected, the current balance

sheet instructions and the related note disclosures would be superseded by the following

guidance.  The amendments will be required for fiscal years ending after September 30, 2000 (FY 2001).  Early implementation is encouraged.

Entity and Non-entity Assets.  Combine entity and non-entity assets on the face of the balance sheet, e.g., entity intra-governmental accounts receivable and non-entity intra-governmental

accounts receivable shall be combined and reported as a single intra-governmental accounts

receivable line item on the face of the balance sheet.  Disclose non-entity assets in a note to the

financial statements (see the illustrative format on page 13).

Negative Subsidies and Downward Re-Estimates of Subsidy.  Special receipt accounts for negative subsidies and downward subsidy re-estimates are to be included in the credit reporting

entity’s financial statements.  Any assets in the accounts are non-entity assets and are offset by

intra-governmental liabilities covered by budgetary resources.

Liabilities Covered and Not Covered by Budgetary Resources.  Combine liabilities covered by budgetary resources with liabilities not covered by budgetary resources on the face of the

balance sheet, e.g., intra-governmental accounts payable covered by budgetary resources and

intra-governmental accounts payable not covered by budgetary resources shall be combined and

reported as a single intra-governmental accounts payable line item on the face of the balance

sheet.  Disclose liabilities not covered by budgetary resources in a note to the financial

statements (see the illustrative format on page 17).

Federal Employee and Veterans’ Benefits.  Entities that are responsible for accounting for pensions, other retirement benefits, and other post-employment benefits should calculate and

report these liabilities and related expenses in accordance with SFFAS No. 5.  Liabilities for

federal employee and veterans’ benefits include the actuarial portion of these benefits.  They do not include liabilities related to ongoing continuous expenses such as employees’ accrued salary, accrued annual leave, and the unpaid portion of employee benefits and other benefits that are

currently due, which are reported in the “Other” liabilities line item.  Disclose in the notes to the financial statements the actuarial liabilities, assumptions used to compute the actuarial liabilities,

and the components of expense for the period for pensions, other retirement benefits, and other

post-employment benefits.

OPTIONAL BALANCE SHEET FORMAT

Department/Agency/Reporting entity 

Consolidated Balance Sheet

As of September 30, XXXX

(in dollars/thousands/millions)

Assets (Note 17):

	Intra-governmental:

		Fund balance with Treasury (Note 2)				$  xxx

		Accounts receivable (Note 5)					xxx

		Loans receivable 						xxx

		Investments  (Note 4)						xxx

		Other (Note 6)						xxx

	Total intra-governmental						xxx

	Cash and other monetary assets (Note 3)				xxx

	Investments (Note 4)							xxx

	Accounts receivable (Note 5)						xxx

	Taxes receivable (Note 5a)						xxx

	Loans receivable and related foreclosed property (Note 7)		xxx

	Inventory and related property (Note 8)   				xxx

	General property plant and equipment (Note 9)			xxx

	Other (Note 6)	 						xxx

Total assets									$  x,xxx

	______________________________________________________________________________

	The accompanying notes are an integral part of these statements.

Liabilities (Note 18):

	Intra-governmental:

		Accounts payable 						$  xxx

		Debt (Note 10)						xxx

		Other (Notes 11, 12 and 14)					xxx

	Total intra-governmental						xxx

	Accounts payable 							xxx

	Loan guarantee liability (Note 7)					xxx

	Debt held by the public (Note 10)					xxx

	Federal employee and veterans’ benefits (Note 13)			xxx

	Environmental and disposal costs (Note 17)				xxx

	Benefits due and payable 						xxx

	Other (Notes 11, 12 and 14)						xxx

	Total liabilities							x,xxx

	Commitments and contingencies (Note 16)

Net position

	Unexpended appropriations (Note 15)				xxx

	Cumulative results of operations					xxx

	Total net position							xxx

Total liabilities and net position						$  x,xxx

	______________________________________________________________________________

	The accompanying notes are an integral part of these statements.

NOTES TO OPTIONAL BALANCE SHEET

Required note disclosure when entity and non-entity assets are combined on the face of the

balance sheet:  

Note 17.  Non-entity Assets

	Intra-governmental:

		Fund balance with Treasury					$  xxx

		Accounts receivable						xxx

		Loans receivable						xxx

		Investments							xxx

		Other								xxx

	Total intra-governmental						xxx

	Cash and other monetary assets					xxx

	Accounts receivable							xxx

	Taxes receivable							xxx

	Loans receivable and related foreclosed property			xxx

	Inventory and related property					xxx

	Other									xxx

	Total non-entity assets	    					x,xxx

	Total entity assets							 x,xxx

	Total assets								$  xx,xxx

Other information: ______________________________________________________________

_____________________________________________________________________________

Disclose intra-governmental non-entity assets separately from other non-entity assets.  Also provide other information needed to understand the nature of non-entity assets.

Required note disclosure when entity and non-entity assets are combined on the face of the

balance sheet:  

Note 2.  Fund Balance with Treasury:

A.  Fund Balances:

	(1) Trust Funds				$  xxx

	(2) Revolving Funds				xxx

	(3) Appropriated Funds			xxx

	(4) Other Fund Types				xxx

		Total					$  xxx

B.  Other information: ___________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Instructions.

A.	Fund Balances.  The total of all undisbursed account balances with the U.S. Treasury, as reflected in the entity’s records and summarized by fund type.  Line (4), other fund types,

should include balances in deposit accounts, such as for collections pending litigation,

awaiting determination of the proper accounting disposition, or being held by the entity in the

capacity of a banker or agent for others.  If any of the balances under other fund types are

material, list them separately.

B.	Other Information.  Disclose any other information necessary for understanding the nature of the fund balances.

Required note disclosure when entity and non-entity assets are combined on the face of the balance sheet:

Note 3.  Cash, Foreign Currency and Other Monetary Assets:

A.  Cash									$  xxx

B.  Foreign Currency								xxx

C.  Other Monetary Assets

	(1) Gold									xxx

	(2) Special Drawing Rights						xxx

	(3) U.S. Reserves in the International Monetary Fund			xxx

	(4) Other									xxx

	(5) Total Other Monetary Assets						xxx

D.  Total Cash, Foreign Currency and Other Monetary Assets		$  xxx

E.  Other information: ___________________________________________________________

_____________________________________________________________________________

Instructions.  Report the amount of Cash, Foreign Currency and Other Monetary Assets.

A.  Cash.  The total of cash under the control of the reporting entity, which includes coin, paper currency, purchased foreign currency, negotiable instruments, and amounts on deposit in banks

and other financial institutions.  Cash available for agency use should include petty cash and cash

held in revolving funds which will not be transferred to the general fund.

B.  Foreign Currency.  The total U.S. dollar equivalent of non-purchased foreign currencies held in foreign currency fund accounts.

C.  Other Monetary Assets.  This amount represents other items, including gold, special drawing rights, and U.S. Reserves in the International Monetary Fund.

D.  Total Cash, Foreign Currency, and Other Monetary Assets.  The sum of lines A, B, and C(5).

E.  Other Information.  Disclose as other information any restrictions on cash.  Restricted cash includes holdings which are unavailable for agency use (non-entity cash) and have not been

transferred to the general fund.  Restricted cash also includes cash held in escrow to pay property

taxes and insurance related to property associated with defaulted loans.  Disclose any restrictions

on the use or conversion of cash denominated in foreign currencies , and the significant effects, if

any, of changes in the exchange rate on the entity’s financial position that occur after the end of

the reporting period but before the issuance of financial statements.  Provide other information,

as appropriate, such as the valuation rate of gold.

Required note disclosure when entity and non-entity assets are combined on the face of the

balance sheet:

Note 5. Accounts Receivable: Present the gross receivables, the method used to estimate the allowance for uncollectible accounts, and the net amount due.  Do not include receivables related

to direct or guaranteed loans which are reported in Note 7.

Note 6: Other Assets:

A. 1. Intra-governmental 

	(1)_________________________________________________ 	$  xxx

	(2)_________________________________________________ 	xxx

	(3)_________________________________________________ 	xxx

	Total Intra-governmental							xxx

	2.__________________________________________________	xxx

	3.__________________________________________________	xxx

	4.__________________________________________________	xxx

	Total Other Assets							$  xxx

B.  Other information:________________________________________________

_________________________________________________________________

_________________________________________________________________

Instructions.

A.  List and describe the major homogenous components of other assets.

B.  Provide other information needed to understand the nature of other assets.

Required note disclosure when liabilities covered and liabilities not covered by budgetary resources are combined on the face of the balance sheet:

Note 18.  Liabilities Not Covered by Budgetary Resources

	Intra-governmental:

		Accounts payable							$  xxx

		Debt									xxx

		Other									xxx

	Total intra-governmental							xxx

	Accounts payable								xxx

	Loan guarantee liability							xxx

	Debt held by the public							xxx

	Federal employee and veterans’ benefits					xxx

	Environmental and disposal liabilities					xxx

	Benefits due and payable							xxx

	Other									xxx

	Total liabilities not covered by budgetary resources			x,xxx

	Total liabilities covered by budgetary resources				x,xxx

	Total liabilities								$  xx,xxx

Other information: ______________________________________________________________

____________________________________________________________________________

Disclose intra-governmental liabilities not covered by budgetary resources separately from other liabilities not covered by budgetary resources.  Also provide other information needed to understand the nature of liabilities not covered by budgetary resources.

Required note disclosure when liabilities covered and liabilities not covered by budgetary

resources are combined on the face of the balance sheet:

Note 11. Other Liabilities:

					Non-

					Current	Current	Total

A. 1.  Intra-governmental

	(1)________________	$  xxx		$  xxx		$  xxx	

	(2)________________	    xxx		    xxx		    xxx

	(3)________________	    xxx		    xxx		    xxx

	Total Intra-governmental	    xxx		    xxx		    xxx

      2. ________________	    xxx		    xxx		    xxx

      3. ________________	    xxx		    xxx		    xxx

      4. ________________	    xxx		    xxx		    xxx

	Total Other Liabilities	$  xxx		$  xxx		$  xxx

B.  Other Information:_______________________________________________

_________________________________________________________________

Instructions.

A.  Other Liabilities.  Include all liabilities not reported elsewhere.  Separately report disclose the current portion of other liabilities.

B.  Other Information.  Provide other information necessary for understanding other liabilities.

Required note disclosure when liabilities covered and liabilities not covered by budgetary resources are combined on the face of the balance sheet:

Note 13.  Federal Employee and Veterans’ Benefits

Entities that are responsible for administering pensions, other retirement benefits, and other post-

employment benefits should calculate and report these liabilities and related expenses in

accordance with SFFAS No. 5.

The following are the minimum disclosures required for pensions and other retirement benefits:

•	The assumptions used to calculate the liability.  (In the case of a pension plan that uses assumptions that differ from those used by the primary plans, the Civil Service Retirement

System (CSRS), the Federal Employees Retirement System (FERS), and the Military

Retirement System (MRS), the pension plan using the different assumptions should disclose

how and why the assumptions used differ from those of the primary plans.)

•	Separate disclosure of the individual components of expense for the period. (i.e., the normal cost, interest on the liability for the period, prior and past service cost from plan amendments

during the period, if any, any gains/losses due to a change in the medical inflation rate

assumption, and other actuarial gains or losses during the period, if any)

INSTRUCTIONS FOR THE STATEMENT OF NET COST

For FY 1999 and beyond, intra-governmental gross cost and earned revenue shall be disclosed in

the notes by budget functional classification.  This reporting requirement is in addition to the

current requirement to disclose total entity gross cost and earned revenue by budget functional

classification.  

Footnote Disclosure Related to the Statement of Net Cost

Gross Cost and Earned Revenue by Budget Functional Classification.  Disclose gross cost and earned revenue, by budget functional classification, for (1) the reporting entity and (2)

transactions with intra-governmental entities.  Gross cost and earned revenue should be net of

intra-entity transactions (consolidated).  Disclosure of gross cost and earned revenue by budget

functional classification may be limited to the consolidated agency-wide financial statements.  That is, only the 24 executive departments and agencies covered by this bulletin (see Appendix A

of OMB Bulletin No. 98-08, and subsequent issuances) are required to disclose gross cost and

earned revenue by budget functional classification in a note.  See the Treasury Financial Manual

for budget functional classifications. 

Gross Cost and Earned Revenue by Budget Functional Classification:

Functional 

Classification		Gross Cost	Earned Revenue	Net Cost

Classification A		xxx		xxx		       xxx

Classification B		xxx		xxx		       xxx

Classification C		xxx		xxx		       xxx

Total				xxx		xxx		       xxx

Instructions: Balances disclosed in the footnote disclosure should agree with the balances reported on the face of the statement.

Intra-governmental Gross Cost and Earned Revenue by Budget Functional Classification:

Functional 

Classification		Gross Cost	Earned Revenue	Net Cost

Classification A		xxx		xxx		       xxx

Classification B		xxx		xxx		       xxx

Classification C		xxx		xxx		       xxx

Total				xxx		xxx		       xxx

Instructions: Intra-governmental amounts include activity that arise from transactions with Federal entities.  These amounts are transactions of a Federal entity with other Federal entities.

INSTRUCTIONS FOR THE STATEMENTS OF

BUDGETARY RESOURCES AND FINANCING

In accordance with OMB Memorandum 99-03, Technical Amendments to OMB Bulletin No. 97- 01, Form and Content of Agency Financial Statements, dated November 20, 1998, the authority to prepare a combining statement of budgetary resources and a combined statement of financing is extended through FY 2000.