Annual Management Report 

Fiscal Year 2020 
 

 

 

 

 

 

 

 

ABOUT THIS REPORT 

The Annual Management Report (AMR) focuses on the Corporation for National and 

Community Service‘s (AmeriCorps’ 1) financial management and typically includes the 

agency’s annual financial statement audits results. This year, the agency’s Office of 

the Inspector General agreed not to conduct a full financial statement audit in light of 

the agency’s transition to a shared services provider for some accounting, 

procurement, and travel functions. In lieu of the financial statement audits and 

AmeriCorps’ responses, this report includes a letter from the agency’s Office of the 

Inspector General commenting on the agency’s financial position. This report also 

includes AmeriCorps’ assurance statement regarding financial reporting, internal 

controls, and operations. This report is published on the AmeriCorps website. 

AmeriCorps will produce its FY 2022 Congressional Budget Justification with integrated 

Annual Performance Report (APR) to provide an overall assessment of agency 

performance. AmeriCorps will transmit this report to Congress in early 2021. The 

Congressional Budget Justification will also be published on the AmeriCorps’ website. 2 

These reports meet the requirements of the Government Performance and Results 

Modernization Act, the Federal Financial Management Improvement Act, the Federal 

Managers’ Financial Integrity Act, the Government Corporation Control Act, and the 

Federal Information Security Modernization Act, among others. These reports also follow 

applicable guidance from the Office of Management and Budget (OMB). 

This report is in the public domain. Authorization to reproduce it in whole or in part is 

granted with the citation: AmeriCorps FY 2020 Annual Management Report, 

Washington, D.C., 20525. 

To request a printed copy of this report, obtain it in a format that is accessible to 

individuals with disabilities, or provide any related feedback, please contact the Office of 

the Chief Financial Officer at 202-606-6852 or at this mailing address: AmeriCorps, 250 

E Street SW, Washington, D.C. 20525. 

1 As of Sept. 29, 2020, AmeriCorps is the operating name of the Corporation for National and Community Service. 

2 The Administration only requested funding for an orderly AmeriCorps shutdown in FY 2019, FY 2020, and FY 2021. 

Therefore, the agency did not include performance information within these budgets. Prior year performance information is 

included in AmeriCorps’ budgets, which are published on the AmeriCorps website. 

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TABLE OF CONTENTS 

I. MESSAGE FROM THE CHIEF EXECUTIVE OFFICER .......................................... ..................3 

II. MISSION AND ORGANIZATIONAL STRUCTURE .............................................. ...................5 

III. PERFORMANCE GOALS, OBJECTIVES, AND RESULTS ................................... ...................9 

IV. ANALYSIS OF FINANCIAL STATEMENTS AND STEWARDSHIP INFORMATION..............15 

V. ANALYSIS OF SYSTEMS, CONTROLS AND LEGAL COMPLIANCE .............. ...................23 

VI. FINANCIAL SECTION.......................................................................................... ...................26 

A. Message from the Chief Financial Officer ............................................... ...................26 

B. Message from the Inspector General....................................................... ...................27 

C. Consolidated Financial Statements.......................................................... ...................30 

D. Notes to Consolidated Financial Statements .......................................... ...................34 

E. National Service Trust Funds Financial Statements ...................................................48 

F. Notes to National Service Trust Financial Statements ...............................................52 

VII. OTHER INFORMATION ..........................................................................................................57 

A. Summary of Financial Statement Audit & Management Assurances.......................57 

B. Payment Integrity & Fraud Reduction Report.............................................................59 

C. Civil Monetary Penalty Adjustment for Inflation.........................................................61 

D. National Service Trust Fund Status Report (As of September 2020).........................62 

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I. MESSAGE FROM THE CHIEF EXECUTIVE OFFICER 

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II. MISSION AND ORGANIZATIONAL STRUCTURE 

AmeriCorps was established by the National and Community Service Trust 

Act of 1993.3 Its mission is to engage Americans of all ages and 

backgrounds in community-based service to improve lives, strengthen 

communities, and foster civic engagement. AmeriCorps achieves its mission 

through the administration of its eight programs and initiatives. 

Agency Accounts and Descriptions 

A description of each AmeriCorps account earmarked for funding in the agency’s 

annual appropriation is included below. 

AmeriCorps State and National 

The AmeriCorps State and National program provides funding to States, 

Territories, Tribes, and community-based organizations that manage 

members who serve full- or part-time on projects that align with certain 

priority areas. These areas include economic opportunity, education, 

healthy futures, disaster relief, economic opportunity, environmental 

stewardship, and veterans and military families. This program supports 

organizations that see service as a solution to local and national challenges 

and create powerful member experiences that result in lifelong civic 

engagement. 

AmeriCorps State and National is run through a combination of efforts 

managed by AmeriCorps and State Service Commissions. State Service 

Commissions (located in 49 states, the District of Columbia, Guam, and 

Puerto Rico) administer grant funds to programs within the states, which are 

awarded on both a competitive and formula basis. Programs that operate 

within more than one state (all of which are awarded competitively) are part 

of the AmeriCorps State and National portfolio. 

AmeriCorps VISTA 

The AmeriCorps VISTA program was created to help reduce poverty and 

build economic opportunity throughout the country. It accomplishes this 

goal primarily by engaging AmeriCorps members to serve with 

community organizations and public agencies. These members act as a 

catalyst for change, living and working alongside communities to meet 

our nation’s most pressing challenges, build capacity for nonprofits, and 

advance local solutions. AmeriCorps provides the management 

3 The Trust Act created the Corporation for National and Community Service. On September 29, 2020, 

the Corporation adopted the operating name “AmeriCorps.” 

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infrastructure for this program with field work managed by the program’s 

grantees and project sponsors. 

AmeriCorps NCCC 

The AmeriCorps NCCC program is a 10-month residential national service 

program for people ages 18–24. This program deploys AmeriCorps members 

to address needs related to natural and other disasters, infrastructure 

improvement, energy conservation, and urban and rural development. They 

construct and rehabilitate low-income housing, respond to natural disasters, 

clean-up streams, help communities develop emergency plans, and address 

countless other local needs. AmeriCorps directly operates the NCCC 

program. 

Under AmeriCorps NCCC, the agency also administers the FEMA Corps 

program, a partnership with the Federal Emergency Management Agency to 

serve communities affected by disaster. This program also serves as a 

workforce development program to provide the next generation of disaster 

services professionals the skills necessary to take on future careers in the 

disaster services sector. 

AmeriCorps State Service Commission Support Grants 

In 1993, Congress created this shared federal-state partnership with a central 

role for governors to design and implement national service through 

Governor-appointed State Service Commissions. More than 1,000 private 

citizens serve as Governor-appointed commissioners, leading and guiding 

national service efforts in their states by identifying local needs, directing 

federal and state resources, ensuring oversight and accountability, tracking 

performance and community outcomes, and leading citizen service efforts in 

their states and territories. 

AmeriCorps Seniors Foster Grandparent Program 

The Foster Grandparent Program is an intergenerational program first 

established in 1965 where volunteers help children in their communities 

develop academic and life skills critical to their development and future 

success. Low-income volunteers age 55 and over connect with opportunities 

to provide one-on-one mentoring, nurturing, and support to children with 

special or exceptional needs, or who are at an academic, social, or financial 

disadvantage. In return for their service, volunteers receive a stipend of $3.00 

per hour. The agency renews grants for the Foster Grandparent program 

annually. 

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AmeriCorps Seniors Senior Companion Program 

The Senior Companion Program engages low-income volunteers, age 55 

and over, in providing in-home support and friendship to adults who have 

difficulty with daily living tasks. They provide companionship and assistance 

with daily tasks such as shopping or paying bills and give respite to family 

caregivers. As a result, seniors are able to maintain their independence 

longer and live fuller lives. Volunteers serving in this program also receive a 

stipend of $3.00 per hour. The agency renews grants for the Senior 

Companion program annually. 

AmeriCorps Seniors RSVP 

The RSVP program is one of America’s largest volunteer networks for people 

55 and older and engages the skills, talents, and experience of volunteers to 

meet a wide range of community needs. These AmeriCorps Seniors 

volunteers recruit and manage other volunteers, mentor and tutor 

disadvantaged children, support workforce development by providing job 

readiness training, offer free tax preparation, help seniors live independently 

in their homes, assist communities as they recover from disasters, and expand 

economic opportunities for veterans and their families. The agency awards 

grants for the RSVP program on a competitive basis. 

Innovation and Demonstration 

AmeriCorps aims to engage more Americans in service to meet pressing 

community needs through its Days of Service – Martin Luther King, Jr. 

National Day of Service and the September 11th National Day of Service and 

Remembrance. Grants for Days of Service are awarded competitively. 

AmeriCorps’ Volunteer Generation Fund supports the agency’s mission to 

improve lives and strengthen communities by strengthening volunteer 

management practices across the country. This includes helping State Service 

Commissions broaden their volunteer base, more effectively recruit and 

retain volunteers, expand opportunity for those who serve, and improve their 

outcomes on community challenges. The agency awards these funds 

competitively. 

Evaluation 

AmeriCorps’ Office of Research and Evaluation coordinates the 

agency’s learning agenda, which includes building its evidence base 

and facilitating the use of evaluation to inform decisions. To this end, 

the office conducts research and evaluation on AmeriCorps programs, 

helps build the capacity of agency-funded partners to conduct and 

understand evaluations, and facilitates evidence-based and evidenceinformed grantmaking. 

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National Service Trust 

The National Service Trust provides Segal AmeriCorps Education 

Awards for AmeriCorps members who successfully complete an eligible 

term of service in State and National, NCCC, or VISTA programs. 

Organizational Chart 

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III. PERFORMANCE GOALS, OBJECTIVES AND RESULTS 

Goal 1: Support mission delivery with efficient and effective operations. 

Objective 1.1 – Continue the buildout of the agency’s new grant management 

organization. In 2018, AmeriCorps announced a reorganization of its grant management 

and monitoring structure and roles. The reorganization was designed to better position the 

agency to serve communities by: equipping our field staff to present the full menu of 

AmeriCorps programs to meet community challenges; providing more consistent levels of 

service as a result of more balanced workloads across geographies; retaining more positions 

to support our grantees by avoiding the significant cost increases we were facing to maintain 

small offices across the country; as well as addressing structural weaknesses in our grant 

oversight by separating those who review grant applications and provide technical support 

to grantees from those who test grants for compliance. 

Key results: 

• Completed the hiring for the final five of eight regional offices and sunsetting legacy 

offices and roles. Over the past 18 months, the agency onboarded more than 200 new 

and returning employees. AmeriCorps prioritized hiring experienced staff, with all hires 

having relevant experience in philanthropy, the nonprofit sector, and/or grants 

administration. 

• Stood up temporary or permanent office space for the final five of eight regional offices. 

• Invested in training all hires as part of a new, standardized onboarding and training 

program for grant management staff. AmeriCorps also enabled all staff to pursue a 

professional certification in financial grant management, an opportunity that previously 

was available to only a few staff each year. In addition, all managers have completed or 

will soon complete Federal Supervisors Training. 

• Streamlined and improved processes, including created a new process for collecting and 

analyzing grantees’ operational and financial information as part of the application preaward risk assessment. The new process lowers burden on staff and aligns with the 

agency’s risk model factors. The agency also made progress in addressing its longstanding challenge with closing grants in a timely manner by conducted a focused and 

intensive effort to close expired grants. This process reduced expired, un-closed grants 

by 47 percent and identified a number of efficiencies that have been incorporated into 

ongoing closeout activities. 

• Established a new monitoring framework with activities informed by a more robust risk 

model and initiated the first round of monitoring activity using the framework. 

• Launched a new data dashboard – the Portfolio Navigator – to provide real-time tracking 

and insights into each Portfolio Managers’ grant portfolio. 

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Objective 1.2 – Transition to the Department of Treasury’s shared service platform for 

key financial management functions. In 2019, AmeriCorps made the decision to move to a 

shared service platform for key accounting, procurement, and travel functions. This transition 

allows AmeriCorps to leverage Treasury’s expertise and technology, eliminate single points 

of failure, and decrease costly technology investments and upgrades. Importantly, the new 

systems and processes alone position AmeriCorps to address many of the internal controls 

findings in its most recent financial statement audit. 

Key results: 

• Successfully migrated key financial management functions to the shared service platform 

that now serves as the agency financial system of record. 

• Reengineered and standardized business processes to support accounting, procurement, 

and travel functions in the new environment. 

• Trained key staff and other internal customers on new business processes. 

Objective 1.3 – Improve grantees’ compliance with National Service Criminal History 

Check (NSCHC) requirements. AmeriCorps continues to strive to protect the vulnerable 

populations among the beneficiaries we serve by improving grantee compliance with 

national service criminal history check requirements. Related to this effort is the agency’s 

work to bring each of its programs’ improper payment rates below the $10M susceptibility 

threshold as previously defined by the Improper Payments Elimination and Recovery 

Improvement Act (IPERIA), which has been repealed and replaced by the Payment Integrity 

Information Act (PIIA). From 2017-2019, 73 percent of the agency’s improper payments 

included an improper national service criminal history check component. The improper 

payment rate provides visibility into the agency’s progress with NSCHC compliance. 

Key results: 

• Continued to promote grantee usage of AmeriCorps’ agency-approved vendors to 

conduct compliant national service criminal history checks. Preliminary analysis 

conducted for FY2019 showed use of the service resolved 88% of NSCHC-related 

improper payments. 

• Proposed changes to the NSCHC regulation to support streamlining and clarification of 

NSCHC requirements. 

• The corrective actions undertaken by the agency so far have proved effective, as 

evidenced by the most recent Improper Payments assessment. In FY20, AmeriCorps 

demonstrated improper payment rate reductions between 48.5%-64.7% across its four 

programs reporting improper payment estimates. These reductions resulted in two of 

AmeriCorps’ four susceptible programs reporting under the susceptibility threshold. 

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Annual improper payments $ (% of total program)* 

Program FY18 FY19 FY20 Short-term goal 

State and National $40.1M (16.4%) $39.03M 

(16.5%) 

$22.14M (8.5%) <$10M 

Foster Grandparent $18.7M (20.8%) $25.74M 

(27.8%) 

$12.95M 

(14.2%) 

<$10M 

RSVP $6.98M (17.3%) $16.20M 

(37.3%) 

$7.41M (17.4%) <$10M 

Senior Companion $10.7M (28.2%) $10.96M 

(28.3%) 

$3.87M (10.0%) <$10M 

*Extrapolated from agency’s annual IPERIA testing samples. 

Goal 2: Improve the outcomes from AmeriCorps programs on communities served and 

the people who serve. 

Objective 2.1 – Provide people power and funding to support programs that strengthen 

communities. 

AmeriCorps is committed to improving lives and strengthening communities through service 

and volunteering by empowering citizens to solve local problems, expand economic 

opportunity, and encourage personal responsibility. Based on principles of local control, 

competition, accountability, and public-private partnership, AmeriCorps investments provide 

important services to communities and generates dividends that exceed the original 

investment. 

Through strategic and evidence-based grantmaking, we partner with thousands of nonprofit 

organizations, faith-based groups, schools, and local governments to solve tough problems 

and meet local needs. AmeriCorps members and AmeriCorps Seniors volunteers support six 

key focus areas: Education, Healthy Futures (prioritizing investments to address the opioid 

epidemic), Veterans and Military Families, Disaster Relief, Economic Opportunity, and 

Environmental Stewardship. 

Key results: 

AmeriCorps members and AmeriCorps Seniors volunteers strengthen communities across 

the country. A preliminary FY 2020 analysis demonstrates our continued focus on national 

priorities, including: 

• We assisted 4.4 million people in response to COVID-19 through the service of 

21,400 AmeriCorps members and AmeriCorps Seniors volunteers. 

• We invested more than $14.5 million in national service programming that 

contributes to opioid prevention, reduction, and recovery. 

• We awarded more than 2,700 projects, providing resources and people power to 

organizations dedicated to the improvement of communities across the nation. 

Furthermore, AmeriCorps members have earned $4 billion in Segal AmeriCorps 

Education Awards since 1994. These funds are used to further education or pay back 

applicable educational loans for these individuals across the nation. In FY 2020, 

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Historically Black Colleges and Universities received more than 1 million dollars in 

education award payments. 

Objective 2.2 – Adapt AmeriCorps programs to support COVID-19 pandemic response 

and recovery. AmeriCorps empowers an ecosystem dedicated to the betterment of 

communities and, now more than ever, the service of AmeriCorps members and AmeriCorps 

Seniors volunteers is needed in communities across the country. 

Key results: 

• AmeriCorps pivoted to provide maximum flexibility for grantees to modify their 

program models and service activities to keep members and volunteers serving 

safely. As of November 11, 2020, more than 21,400 AmeriCorps members and 

AmeriCorps Seniors volunteers assisted an estimated 4.4 million people in 

response to COVID-19. These members and volunteers conducted more than 

725,000 wellness checks, provided more than 10 million meals, collected and 

distributed more than 56.5 million pounds of food, and supervised more than 

24,000 volunteers who have served nearly 778,000 hours thus far. 

• AmeriCorps leveraged flexibilities under the CARES Act to provide needed relief 

to our programs including: (a) waived matching resource requirements for 

AmeriCorps grantees participating in our Foster Grandparent, Senior Companion, 

RSVP, and State and National programs who were unable to raise their match due 

to the pandemic; (b) allowed AmeriCorps grantees participating in our State and 

National program to receive fixed-amount awards to access their full federal 

funding based on member enrollment; and (c) reduced the threshold for 

AmeriCorps members to earn a full education award from 100 percent completion 

of their service to 50 percent if completion was impacted by COVID-19. 

• Due to the required shelter-in-place orders issued by many communities, we 

made a temporary allowance available to over 31,200 eligible volunteers serving 

with the AmeriCorps Seniors Foster Grandparent and Senior Companion 

programs through December 31, 2020. This temporary extension helped 

volunteers remain on program rosters longer, with the hope that they would be 

positioned to support their communities once they are able to fully re-engage in 

their service. We also developed a “Pathway to Service” guide that outlines virtual 

service options for older adults and provided information about external resources 

to support them with things like technology assistance and broadband access. 

• Through our AmeriCorps VISTA program, we launched a new food security 

initiative to create a comprehensive and collaborative approach to hunger. The 

four new grants through this program total $2 million to support approximately 75 

new AmeriCorps members in New Hampshire, Maine, Ohio, and Texas to combat 

the growing hunger crisis. All four states will participate in a case study conducted 

by our Office of Research and Evaluation to measure our outcomes. 

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• AmeriCorps developed a comprehensive virtual training program for new 

AmeriCorps Disaster Response Teams (A-DRTs) and new members or staff of 

established A-DRTs to provide foundational training for FEMA Mission 

Assignments. This training emphasized pandemic safety and positioned the 

agency to respond to an extremely active hurricane season occurring in the midst 

of the pandemic. AmeriCorps has managed five FEMA Mission Assignments in 

disaster-impacted communities and will continue to deploy where needed most. 

Objective 2.3 – Increase the portion of our programs’ portfolios supporting evidencebased program models. To maximize the impact of federal resources, AmeriCorps 

continues to refine the intervention models it funds based on evidence and demonstrated 

success, while maintaining the flexibility to support statutory and Administration priorities. 

Key results: 

• The AmeriCorps State and National program continues to increase its percentage 

of competitively selected new, recompete, and continuation awards with strong or 

moderate evidence. The majority of this federal investment is in programs with 

medium or strong evidence. 

AmeriCorps State and National program new 

recompete or continuation awards to applicants with 

medium or high levels of evidence 

FY16 FY17 FY18 FY19 FY20 

% of funding ($) 34% 29% 37% 41% 51% 

Objective 2.4 – Create a clear and compelling brand identity to increase understanding 

and recognition of our agency and programs in the public sphere. People who have 

worked with CNCS-AmeriCorps-Senior Corps are passionate about their work and the 

positive change they help communities and individuals achieve around the country. And yet, 

the agency and its programs are poorly understood by the public. Market research indicated 

the agency’s programs have relatively low levels of awareness/recognition and are difficult to 

explain. To build awareness and understanding of AmeriCorps opportunities, our agency 

completed a two-year project to simplify the agency’s brand identities. 

Key results: 

• Adopted AmeriCorps as the operating name for the Corporation for National and 

Community Service. 

• Simplified the agency’s brand architecture by consolidating around the single 

AmeriCorps brand (with the highlighted sub-brand AmeriCorps Seniors); and moved 

away from each program being promoted as its own brand. 

• Streamlined brand language by reducing the number of names used for the people who 

serve and the organizations that receive our resources. 

• Reduced the number of visual identities we utilize from 15 to two. 

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• Launched a new creative idea and tagline – “The Best of America” – and brand film to tell 

the story of AmeriCorps. 

• Implemented the new brand identity across the first phase of the agency’s platforms, 

systems, and materials, including educating staff and grantees on brand guidelines and 

requirements. 

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IV. ANALYSIS OF FINANCIAL STATEMENTS AND 

STEWARDSHIP INFORMATION 

The accompanying FY 2020 financial statements have been prepared in accordance with the 

accounting standards codified in the Statements of Federal Financial Accounting Standards 

and the Office of Management and Budget (OMB) Circular No. A-136, Financial Reporting 

Requirements. 

Table of Key Measures (in thousands) 

Balance Sheet: Summary of Data 

Unaudited 

2020 

Unaudited 

2019 

Percent 

Change 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fund Balance with Treasury 

Investments and Related Receivables 

Accounts Receivable, Net 

Cash and Other Monetary Assets 

Advances to Others 

Property and Equipment, Net 

Total Assets 

$ 

$ 

2,058,467 

185,715 

1,165 

-

66,399 

3,651 

2,315,397 

$ 

$ 

1,346,606 

756,080 

4,511 

4 

68,777 

368 

2,176,346 

35% 

-307% 

-287% 

-0% 

-4% 

90% 

6% 

Accounts Payable 

Other Liabilities 

Advances from Others 

Trust Service Award Liability 

Grants Payable 

Actuarial FECA Liability 

Total Liabilities 

Total Net Position 

Total Liabilities and Net Position 

$ 

$ 

1,543 

16,054 

10,244 

438,294 

108,789 

7,497 

582,421 

1,732,976 

2,315.397 

$ 

$ 

26,695 

15,488 

8,981 

375,834 

115,316 

6,817 

549,129 

1,627,217 

2,176,346 

-1630% 

4% 

12% 

14% 

-6% 

9% 

6% 

6% 

6% 

15 
Statement of Net Cost: Summary of Data 

Unaudited 

2020 

Unaudited 

2019 

Percent 

Change 

Gross Costs $ 1,010,498 $ 1,120,530 -11% 

Less: Earned revenue (31,885) (52,980) -66% 

Net Cost of Operations $ 978,613 $ 1,067,550 -9% 

Statement of Budgetary Resources: 

Summary of Data 

Unaudited 

2020 

Unaudited 

2019 

Percent 

Change 

 

 

 

 

 

 

 

Unobligated Balance from prior year budget 

authority, net (discretionary and mandatory) 

Appropriations (discretionary and 

mandatory) 

Spending authority from offsetting 

collections (discretionary and mandatory) 

$ 399,538 

1,336,271 

35,553 

$ 513,568 

1,167,924 

31,522 

-30% 

13% 

11% 

Total Budgetary resources $ 1,767,362 $ 1,713,014 3% 

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Balance Sheet 

The Balance Sheet provides an overview of AmeriCorps’ financial position at the end of the 

fiscal year. The statement displays the current and future economic benefits owed or 

available for use (assets), amounts owed (liabilities) and the residual amount (net position) at 

September 30th. 

Total Assets, 

$2,315,397 

Total Liabilities, 

$582,421 

Total Net Position, 

$1,732,976 

Total Assets, 

$2,176,346 

Total Liabilities, 

$549,129 

Total Net Position, 

$1,627,217 

Total Assets Total Liabilities Total Net Position 

Comparative Balance Sheet (in thousands) 

2020 2019 

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Assets 

At the end of FY 2020 and 2019, AmeriCorps had $2.31 billion and $2.18 billion in assets, 

respectively. Fund Balance with Treasury (FBWT) and Investments in Securities formed 

majority of the assets. The Balance Sheet also identities governmental and non-governmental 

activities. 

Fund Balance with Treasury: FBWT is the largest asset class, representing 89% of total assets. 

FBWT increased by $712 million in FY 2020 due primarily to an increase in appropriated 

funds and redemption of Treasury securities. 

Assets 

89% 

8% 3% 

Fund Balance with Treasury 

0% 0% 0% 

Investments and Related Receivables 

Accounts Receivable, Net 

Cash and Other Monetary Assets 

Advances to Others 

Property and Equipment, Net 

Investments: Investment is 8% of total assets and that makes it the second largest class. 

Funding for the Trust investments comes from appropriations, interest earned, sponsorships 

and proceeds from the sale or redemptions of investments. In FY 2020, there was a $570 

million decrease in investment due primarily to the redemption of Treasury securities. 

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Liabilities 

AmeriCorps liabilities, or amounts owed, were $582 million and $549 million for the fiscal 

years ended 2020 and 2019, respectively. The majority of the liabilities are $438 million in 

Trust Service award and $109 million in Grants payable. The Trust Service Award Liability 

represents estimates of unpaid and earned education award and interest forbearance costs 

that are likely to be paid. The Grants payables on the other hand represent funds due to 

grantees. 

Liabilities 

0% 

1% 3% 2% 

75% 

19% 

Accounts Payable 

Other Liabilities 

Advances from Others 

Trust Service Award Liability 

Grants Payable 

Actuarial FECA Liability 

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Net Position 

AmeriCorps’ Net Position is the difference between assets and liabilities. Changes in Net 

Position result from changes in the cumulative results of operations. In FY 2020, there was a 

$88 million increase in unexpended appropriations due to an increase in appropriation and 

$17 million increase in cumulative results of operations, mostly caused by a decrease in Segal 

AmeriCorps Education Awards in FY20. 

Comparative Net Position (in thousands) 

Unexpended 

Appropriations , 

$1,098,387 

Cumulative Results of 

Operations , $634,589 

Net Position, 

$1,732,976 Unexpended 

Appropriations , 

$1,009,773 

Cumulative Results of 

Operations , $617,445 

Net Position, 

$1,627,217 

Unexpended Appropriations Cumulative Results of Operations Net Position 

2020 2019 

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Statement of Net Cost 

The AmeriCorps Statement of Net Cost measures the use of appropriated funds by programs 

(VISTA, NCCC, State and National, RSVP, FGP, SCP) authorized by Congress. The AmeriCorps 

net cost for the period ending September 30, 2020 and 2019 were $979 million and $1.067 

billion, respectively. The 9% decrease in operating cost in FY 2020 is mostly due to the 

decrease in Service Award Expense. AmeriCorps State and National is the largest contributor 

to the agency’s overall cost of operations. The program cost includes grant expenses, direct 

and allocated personnel, and administrative cost. 

Comparative Net Cost (in thousands) 

Gross Costs, $1,010,498 

Earned revenue, 

$31,885 

Net Cost of Operations, 

$978,613 

Gross Costs, $1,120,530 

Earned revenue, 

$52,979 

Net Cost of Operations, 

$1,067,550 

 

Gross Costs Earned revenue Net Cost of Operations 

2020 2019 

21 
 

 

Statement of Budgetary Resources 

The statement of budgetary resources represents AmeriCorps’ budgetary resources, which 

comes from unobligated balances from prior-year appropriations, new appropriations, and 

limited receipts from other sources such as collections of disallowed costs from grantees at 

the end of the reporting fiscal year. In FY 2020, AmeriCorps had a $21.4 million increase in 

appropriations received from Congress compared to FY 2019. Also, there is no temporary 

rescission within the National Service Trust in FY 2020 compared to $150 million in FY 2019. 

Unobligated 

Balance from 

prior year 

budget 

authority, 

$395,538 

Appropriations , 

$1,336,271 

Spending 

authority from 

offsetting 

collections, 

$35,553 

Total Budgetary 

Resources, 

$1,767,362 

Unobligated 

Balance from 

prior year 

budget 

authority, 

$513,568 

Appropriations , 

$1,167,924 

Spending authority 

from offsetting 

collections, 

$31,521 

Total Budgetary 

Resources, 

$1,713,014 

Unobligated Balance from prior 

year budget authority 

Appropriations Spending authority from 

offsetting collections 

Total Budgetary Resources 

Comparative Budgetary Resources (in thousands) 

2020 2019 

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V. ANALYSIS OF SYSTEMS, CONTROLS AND LEGAL 

COMPLIANCE 

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VI. FINANCIAL SECTION 

PART A. MESSAGE FROM THE CHIEF FINANCIAL OFFICER 

26 
PART B. MESSAGE FROM THE INSPECTOR GENERAL 

27 
PART B. MESSAGE FROM THE INSPECTOR GENERAL 

28 
PART B. MESSAGE FROM THE INSPECTOR GENERAL 

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PART C. CONSOLIDATED FINANCIAL STATEMENTS 

AmeriCorps 

Unaudited Consolidated Balance Sheet 

As of September 30, 2020, and 2019 

(in thousands) 

Unaudited Unaudited 

2020 2019 

Assets 

Intragovernmental: 

Fund Balance with Treasury (Note 2) $ 2,058,467 $ 1,346,606 

Investments (Note 3) 185,714 756,080 

Accounts Receivables (Note 4) 167 167 

Total Intragovernmental 2,244,348 2,102,853 

With the Public 

Cash and Other Monetary Assets - 4 

Advances to Others 66,399 68,777 

Accounts Receivables (Note 4) 999 4,345 

Property and Equipment (Note 5) 3,651 368 

Total with the Public 71,049 73,494 

Total Assets $ 2,315,397 $ 2,176,346 

Liabilities 

Intragovernmental 

Other liabilities (Note 10) $ 2,130 $ 2,042 

Advances from Others (Note 9) 9,919 8,768 

Total Intragovernmental 12,049 10,810 

With the Public 

Trust Service Award Liability (Note 6) 438,294 375,834 

Grant Payable 108,789 115,316 

Accounts Payable 1,543 26,695 

Actuarial FECA (Note 8) 7,497 6,817 

Advances from Others (Note 9) 325 212 

Accrued Annual Leave 4,502 4,030 

Other Liabilities (Note 10) 9,422 9,415 

Total with the Public 570,372 538,319 

Total Liabilities $ 582,421 $ 549,129 

Net Position 

Unexpended Appropriations (Note 11) $ 1,098,387 $ 1,009,773 

Cumulative Results of Operations 634,589 617,445 

Total Net Positions 1,732,976 1,627,217 

Total Liabilities & Net Position $ 2,315,397 $ 2,176,346 

The accompanying notes are an integral part of these statements. 

30 
 

AmeriCorps 

Unaudited Consolidated Statement of Net Cost 

For the Period Ended September 30, 2020 and 2019 

(in thousands) 

Unaudited Unaudited 

2020 2019 

Gross Program Cost: 

AmeriCorps State and National (SN) 

Operating Cost $ 588,720 $ 606,843 

Less: Earned Revenue (15,193) (28,071) 

Net AmeriCorps SN 573,527 578,772 

AmeriCorps Volunteers in Service to America 

(VISTA) 

Operating Cost 145,581 206,726 

Less: Earned Revenue (8,325) (9,693) 

Net AmeriCorps VISTA 137,256 197,033 

AmeriCorps National Civilian Community Corps 

(NCCC) 

Operating Cost 49,257 85,440 

Less: Earned Revenue (7,488) (13,532) 

Net AmeriCorps NCCC 41,769 71,908 

State Commission 

Operating Cost 27,006 33,995 

AmeriCorps Seniors 

Operating Cost 41,789 169,833 

Less: Earned Revenue (888) (1,144) 

Net AmeriCorps Seniors 40,901 168,689 

Other Programs 

Cost not assigned to programs 158,154 17,693 

Less: Earned revenue (540) 

Net Other program cost 158,154 17,153 

Net Cost of Operations (Note 13) $ 978,613 $ 1,067,550 

The accompanying notes are an integral part of these statements. 

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AmeriCorps 

Unaudited Consolidated Statement of Changes in Net Position 

For the Period Ended September 30, 2020 and 2019 

(in thousands) 

Unaudited Unaudited 

2020 2019 

Unexpended Appropriations 

Beginning Balance as adjusted $ 1,008,264 $ 987,053 

Budgetary Financing Sources 

Appropriations received 1,128,708 1,082,958 

Other adjustments (49,616) (27,146) 

Appropriations used (988,969) (1,033,093) 

Total Budgetary financing sources 90,123 22,719 

Total Unexpended Appropriations 1,098,387 1,009,773 

Cumulative Results of Operation: 

Beginning Balance as adjusted 621,015 648,698 

Budgetary Financing Sources 

Other adjustments (1,648) (2,920) 

Appropriations used 988,969 1,033,093 

Nonexchange revenue (891) 744 

Donations 21 3 

Transfers in / out without (155) 0 

reimbursement 

Other Financing Sources 

Imputed Financing 5,872 5,377 

Other 19 0 

Total Financing sources 992,187 1,036,297 

Net Cost of Operations 978,613 1,067,550 

Net Change 13,574 (31,253) 

Cumulative Results of Operations 634,589 617,445 

Net Position $ 1,732,976 $ 1,627,217 

The accompanying notes are an integral part of these statements. 

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AmeriCorps 

Unaudited Combined Statement of Budgetary Resources 

For the Period Ended September 30, 2020 and 2019 

(in thousands) 

Unaudited Unaudited 

2020 2019 

Budgetary Resources 

Unobligated balance from prior year 

budget authority, net (discretionary and 

mandatory) $ 395,538 $ 513,568 

Appropriations (discretionary and mandatory) 1,336,271 1,167,924 

Spending authority from offsetting 

collections (discretionary and mandatory) 35,553 31,521 

Total Budgetary Resources $ 1,767,362 $ 1,713,014 

Status of Budgetary Resources 

New Obligations and upwards adjustment $ 1,220,451 $ 1,366,031 

Apportioned, unexpired 289,075 157,471 

Unapportioned, Unexpired 105,462 67,523 

Unexpired, Unobligated 394,537 224,994 

Expired Unobligated 152,375 121,989 

Unobligated Balance End of Year 546,912 346,983 

Total Budgetary Resources $ 1,767,362 $ 1,713,014 

Outlays, Net 1,154,240 1,197,757 

Distributed Offsetting Receipts 7,660 (227,745) 

Agency Outlays, Net $ 1,161,900 $ 970,012 

The accompanying notes are an integral part of these statements. 

33 
 

 

 

 

 

PART D. NOTES TO CONSOLIDATED FINANCIAL 

STATEMENTS 

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 

A. REPORTING ENTITY 

AmeriCorps was created by the National and Community Service Trust Act of 1993 (Public 

Law 103-82). 4 AmeriCorps’ mission is to improve lives, strengthen communities, and foster 

civic engagement through service and volunteering. To meet its mission, AmeriCorps 

provides grants and other assistance to states, local communities, and nonprofit 

organizations to help communities meet challenges in the areas of education, healthy futures, 

environmental stewardship, economic opportunity, disaster services, and assisting veterans 

and military families through volunteer service. AmeriCorps’ major programs are as follows: 

• AmeriCorps State and National offers grants supporting a broad range of local 

service programs that engage thousands of Americans in intensive service to meet 

critical community needs. 

• AmeriCorps VISTA helps community organizations and public agencies create and 

expand programs that build capacity and ultimately bring low-income individuals and 

communities out of poverty. 

• AmeriCorps NCCC strengthens communities while developing leaders through 

direct, team-based national and community service. 

• AmeriCorps State Service Commission Support Grants support the shared federalstate partnership with a central role for governors in designing and implementing 

national service through governor-supported State Service Commissions. 

• AmeriCorps Seniors RSVP, Foster Grandparent, and Senior Companion programs tap 

into the rich experience, skills, and talents of older citizens to meet community 

challenges. 

B. BASIS OF ACCOUNTING AND PRESENTATION 

The financial statements and footnotes for FY 2020 are presented on a single year basis. 

AmeriCorps uses the accrual and budgetary basis of accounting in conformity with the 

Generally Accepted Accounting Principles (GAAP) for the federal government. Under the 

accrual method of accounting, revenues are recognized when earned and expenses are 

recognized when incurred, without regard to the actual collection or payment of cash. 

Federal budgetary accounting recognizes the obligation of appropriations and other funds 

upon the establishment of a properly documented commitment. 

C. USE OF ESTIMATES 

The preparation of financial statements in accordance with GAAP requires AmeriCorps to 

make estimates and assumptions about future events. These estimates and assumptions 

affect the amounts reported in AmeriCorps’ financial statements and accompanying notes. 

AmeriCorps evaluates its estimates and assumptions on an ongoing basis using historical 

4 The Trust Act created the Corporation for National and Community Service. On September 29, 2020 

the Corporation adopted the operating name “AmeriCorps”. 

34 
 

 

 

 

 

experience and other factors that it believes to be reasonable under the circumstances. 

Adjustments to estimates and assumptions are made when facts and circumstances warrant. 

As future events and their effects cannot be determined with certainty, actual results could 

differ from the estimates used in preparing the accompanying financial statements. 

Significant estimates and assumptions are required as part of determining the liability for 

service awards, grants payable, accounts payable and payroll as well as adjustments to the 

grant advances. 

D. FUND BALANCE WITH TREASURY 

Fund Balance with Treasury (FBWT) represents cash and cash equivalents in AmeriCorps’ 

accounts with the Department of the Treasury. Treasury processes cash receipts and 

disbursements on behalf of AmeriCorps, and AmeriCorps’ accounting records are reconciled 

with those of Treasury on a regular basis. 

The FBWT maintained in the National Service Trust is restricted to specific purposes, such as 

paying service awards certified as payable to eligible participants and is not available for use 

in the current operations of AmeriCorps. In addition, the majority of the funds received from 

individuals and organizations for deposit in the Gifts and Contributions fund are restricted for 

uses, such as service projects (See Note 2). 

E. OTHER MONETARY ASSETS 

Other monetary assets consist of paper currency and readily negotiable instruments, such as 

money orders, checks, and bank drafts on hand or deposit in transit. 

F. INVESTMENTS 

By law, AmeriCorps may invest the funds of the National Service Trust in interest-bearing 

Treasury securities guaranteed by the United States as to principal and interest. These 

Treasury securities are referred to as “market-based,” since they mirror actual Treasury 

securities sold on the open market. They consist of Treasury notes, bonds, and bills. Since 

they are expected to be held-to-maturity, AmeriCorps’ investments are valued at cost and 

adjusted for the amortization of premiums and discounts. The premiums and discounts are 

recognized as adjustments to interest income and are amortized using the level 

yield/effective interest method for the Notes and straight-line method for the bills. 

G. PROPERTY AND EQUIPMENT 

Property and Equipment is stated at full cost, including all costs related to acquisition, 

delivery, and installation, less accumulated depreciation/amortization. Normal maintenance 

and repair costs on capitalized property and equipment are expensed when incurred. 

AmeriCorps capitalizes properties and equipment with an estimated useful life of two years 

or more based on the capitalization thresholds policy of the agency. Capitalized properties 

are depreciated or amortized on a straight line over their estimated useful lives ranging from 

2 to 10 years. 

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AmeriCorps’ capitalization policy, Accounting for Capital Property, was updated with an 

effective date August of Fiscal Year 2016. Property and Equipment acquired before this 

policy was implemented that does not meet the new capitalization criteria will be fully 

depreciated. The primary change relates to the capitalization thresholds for each asset type. 

Effective August 2016, AmeriCorps capitalizes single items of property and equipment with a 

cost of $50,000 or more. Also, AmeriCorps capitalizes bulk purchases of property and 

equipment with an aggregate cost of $250,000 or more. A bulk purchase is defined as the 

purchase of like items related to a specific project, or the purchase of like items occurring 

within the same fiscal year that have an estimated useful life of at least two years. 

In addition, AmeriCorps capitalizes Internal Use Software with an aggregate cost of $250,000 

or more. Internal Use Software is either purchased off the shelf, internally developed, or 

contractor developed solely to meet AmeriCorps’ internal or operational needs. Internal Use 

Software developed to meet AmeriCorps’ internal or operational needs will be recognized as 

capitalized Internal Use Software in development if the estimated developmental cost 

obligated on the contract meets the capitalization criteria. 

Internal Use Software in development will be recorded at cost in the fiscal year when they are 

incurred and paid. The Internal Use Software in development will be recognized as Internal 

Use Software in AmeriCorps’ financial records upon completion of the software development 

and when the title is passed to AmeriCorps and will be subject to depreciation or 

amortization upon placing the system in operation. (See Note 5 for details) 

H. TRUST SERVICE AWARD LIABILITY 

The Trust Service Award Liability represents unpaid education awards and eligible student 

loan interest forbearance costs, which are expected to be used upon certification. These 

amounts relate to participants who have completed service based on AmeriCorps’ historical 

experience. 

I. GRANTS PAYABLE 

AmeriCorps awards grants to nonprofit organizations, educational institutions, states, 

municipalities, and other external organizations. Grants become budgetary obligations, but 

not liabilities, at the time they are awarded. Although most grantees request funds prior to 

incurring expenses (Grants Advances), some incur expenditures prior to initiating a request 

for disbursement, based on the nature of the expenditures. At the end of each quarter, 

AmeriCorps calculates and reports an estimate of the amount of unreimbursed grantee 

expenses as grants payable. 

AmeriCorps performs a simple linear regression as of the end of each quarter with the 

amounts paid to grantees (drawdowns) during each quarter as the independent variable (Xaxis) and the amount expended by the grantees and reported on the Federal Financial 

Report (FFR) during each quarter (expenses) as the dependent variable (Y-axis). In this 

method, a data point is defined for the entire federal funding entity whenever FFRs are 

required from the grantees. AmeriCorps used over five years of actual grant drawdowns and 

expenses data reported on FFR on the linear regression model. Based on the amount of 

available data used on the model, AmeriCorps believed that the grantees’ expenses incurred 

but not reported (IBNR) would have been captured as part of the calculation. 

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The results of this linear regression are that at the end of each quarter for which the financial 

statements are being prepared, the linear regression model is used to calculate the 

cumulative amount estimated to have been expended by the grant recipient during the 

respective quarter. The linear regression model uses a trend of the previous quarter’s cash 

drawdowns and expenses, for which historical data is available, and uses the current period’s 

cash drawdowns to estimate the current quarter’s expenses. The calculated accrual 

represents the total financial statement level estimate. 

The total calculated accrual estimate is then allocated by each individual grant’s percentage 

of the undelivered obligation to the total undelivered obligation. If such amount is greater 

than the amount paid out to the grantees during the same period, then the difference is the 

grants payable balance to be reported. Or, if the calculated amount expended is less than 

the amount paid out, the difference becomes the grants receivable balance. In this method 

there would be a single payable or receivable balance for the respective grantee. 

J. FEDERAL EMPLOYEE BENEFITS 

ACTUARIAL FECA LIABILITY 

The Federal Employees’ Compensation Act (FECA) provides income and medical cost 

protection to AmeriCorps’ covered federal civilian employees, and NCCC and VISTA 

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

disease, and beneficiaries of employees whose death is attributable to a job-related injury or 

occupational disease. Claims incurred for benefits for AmeriCorps’ employees and members 

under FECA are determined and paid by the Department of Labor (DOL) and later billed to 

AmeriCorps. AmeriCorps’ actuarial liability for workers’ compensation includes costs 

incurred, but unbilled as of year-end, as calculated by DOL. AmeriCorps reimburses DOL for 

FECA claims out of current appropriations upon receipt of a bill from DOL. 

ANNUAL LEAVE 

Annual leave is accrued as a liability based on amounts earned but not used as of the fiscal 

year-end. Each year, the balance in the accrued annual leave account is adjusted to reflect 

current year pay rates and leave balances. Annual leave is funded from current 

appropriations when used. As unused annual leave is used in the future, financing will be 

obtained from appropriations current at that time. Sick leave and other types of non-vested 

leave are also expensed when used. 

RETIREMENT BENEFITS 

AmeriCorps’ employees participate in either the Civil Service Retirement System (CSRS) or 

the Federal Employees Retirement System (FERS). FERS was established by the enactment of 

Public Law 99-335. Pursuant to this law, FERS and Social Security automatically cover most 

employees hired after December 31, 1983. Employees hired prior to January 1, 1984 elected 

to join FERS and Social Security or remain in the CSRS. 

For employees covered by CSRS, AmeriCorps contributes seven percent of their basic pay. 

For those employees covered by FERS, AmeriCorps contributes an average of 11.2 percent 

37 
 

 

 

 

 

 

 

 

 

 

 

 

of their gross pay towards retirement. Employees can participate in the Federal Thrift 

Savings Plan (TSP). For employees under FERS, AmeriCorps contributes an automatic one 

percent of basic pay to TSP and matches employee contributions up to an additional four 

percent of pay, for a maximum AmeriCorps contribution amounting to five percent of pay. 

Employees under CSRS may participate in the TSP program but will not receive either 

AmeriCorps’ automatic or matching contributions. 

K. RESTATEMENTS 

Certain prior year amounts have been restated to correct errors in the Balance Sheet, 

Statement of Net Costs and Statement of Changes in Net Positions, and Notes to the 

Financial Statements. 

NOTE 2 – FUND BALANCE WITH TREASURY 

AmeriCorps is funded with appropriations from General Funds and Trust Funds. While 

amounts appropriated from the General Fund of the Treasury are included in the FBWT, Trust 

Funds investments are not. The Trust Funds investments are redeemed, as needed to meet 

the cash disbursement needs, at which time the funds are transferred from the Trust Fund to 

FBWT. The Trust Fund is for providing education award or student loan interest forbearance 

expense, whereas the General Fund is for operating expenses. AmeriCorps also uses Deposit 

Funds for withholding taxes on payments made to contractors. The FBWT as of September 

30, 2020 and 2019 is as follows: 

(in thousands) 

Unaudited 

2020 

Unaudited 

2019 

Fund Balances 

Trust Fund – National Service $ 896,650 $ 243,892 

Trust 

Trust Fund – Gift and 409 412 

Contribution 

General Funds 1,159,238 1,099,243 

Deposit Funds 2,170 3,059 

2,058,467 1,346,606 

Status of Fund Balance with 

Treasury 

Unobligated Balance Available 504,118 375,764 

Obligated Balance not yet 1,552,179 619,656 

Disbursed 

Non-Budgetary FBWT 2,170 3,059 

Total $ 2,058,467 $ 1,346,606 

AmeriCorps’ FBWT is classified as unobligated balance available, obligated not yet disbursed 

and non-budgetary fund balance. Unobligated Balance available represents apportionment 

for obligations in current and unexpired appropriations available for new obligations. 

Obligated Balance not yet disbursed, represents undelivered orders and those delivered but 

not paid offset by Trust Funds investments. Therefore, the unobligated and obligated 

balances presented may not equal related amounts reported on the Consolidated Statement 

of Budgetary Resources. Non-budgetary funds refer to deposit funds with no budget 

authority. 

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NOTE 3 – INVESTMENTS 

By law, AmeriCorps may invest the funds of the National Service Trust in interest-bearing 

Treasury securities guaranteed by the United States as to principal and interest. AmeriCorps’ 

investments are valued at cost and adjusted for the amortization of premiums and discounts 

Investment are held to maturity. Interest income are paid by Treasury semi-annually. As of 

September 30, 2020, and 2019 for Investment composition is: 

Unaudited 2020 (in thousands) 

U.S. 

Treasury 

Marketable 

Securities 

Bills 

Notes 

Total 

$ 

$ 

Cost 

115,800 

69,400 

185,200 

Amortized 

(Premium) 

Discount 

$ 45 

276 

$ 321 

Interest 

Receivable 

$ - $ 

194 

$ 194 $ 

Investments, 

Net 

115,844 

69,870 

185,714 

$ 

$ 

Market 

Value 

115,853 

70,015 

185,868 

U.S. 

Treasury 

Marketable 

Securities Cost 

Unaudited 2019 (in thousands) 

Amortized 

(Premium) Interest 

Discount Receivable 

Investments, 

Net 

Market 

Value 

Bills $ 110,862 $ 462 $ - $ 111,324 $ 111,599 

Notes 640,540 3,274 942 644,756 648,037 

Total $ 751,401 $ 3,736 $ 942 $ 756,080 $ 759,636 

NOTE 4 – ACCOUNTS RECEIVABLE 

Accounts receivable represents amounts due to AmeriCorps primarily under federal and 

nonfederal reimbursable agreements, grantee audit resolution determinations, outstanding 

travel advances due from employees and Criminal History Check requirements. An allowance 

for doubtful accounts is established for reporting purposes based on experience. The 

Accounts Receivable as of September 30, 2020 and 2019 is as follows: 

Unaudited Unaudited 

2020 2019 

Intragovernmental 

Accounts Receivable $ 166 $ 166 

With the Public 

Accounts receivable 4,619 5,665 

Allowance for uncollectible (3,620) (1,320) 

Total with the public 999 4,345 

Accounts Receivable, Net $ 1,165 $ 4,511 

(in thousands) 

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NOTE 5 – PROPERTY AND EQUIPMENT, NET 

AmeriCorps components of property and equipment as of September 30, 2020 and 2019 are 

as follows: 

Unaudited 2020 (in thousands) 

Service Accumulate 

Life d Net Book 

(years) Cost Depreciation Value 

Equipment 3 - 10 $ 1,264 $ (1,107) $ 158 

Leasehold Improvement 2 5,125 (1,632) 3,493 

Total Property and Equipment, 

Net $ 6,390 $ (2,739) $ 3,651 

Unaudited 2019 (in thousands) 

Service Accumulate 

Life d Net Book 

(years) Cost Depreciation Value 

Equipment 3 - 10 $ 1,264 $ (896) $ 368 

Total Property and Equipment, 

Net $ 1,264 $ (896) $ 368 

NOTE 6 – TRUST SERVICE AWARD LIABILITY 

Individuals who successfully complete terms of service in certain AmeriCorps programs earn 

education awards, which can be used to make payments on qualified student loans or for 

educational expenses at qualified educational institutions. The education award generally 

must be used within seven years of completion date of an approved term of national service. 

If the education award is transferred to an eligible individual or is a Summer of Service award 

(which was available to youth enrolled in grades 6 through 9), the use period is 10 years. 

These awards, as well as interest forbearance payments on qualified student loans during the 

period members perform their service, are paid from the National Service Trust Fund. The 

Service Award Liability as of September 30, 2020 and 2019 are as follows: 

Unaudited Unaudited 

(in thousands) 2020 2019 

Cumulative Education Awards Earned $ 4,137,288 $ 3,906,180 

Cumulative Interest Forbearance Earned 216,794 126,057 

Total Cumulative Awards Earned 4,354,081 4,032,237 

Less: Discount for Usage and Statistics (888,003) (724,124) 

Less: Cumulative Awards paid (3,153,340) (2,998,015) 

Total Liability for Awards Earned 318,278 310,098 

Total Liability for Awards not yet Earned 120,016 65,736 

Total $ 438,294 $ 375,834 

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NOTE 7 – LEASES 

AmeriCorps leases office space through the General Services Administration (GSA). GSA 

charges AmeriCorps a Standard Level Users Charge that approximates commercial rental 

rates for similar properties. The NCCC also leases housing facilities for its campuses. 

Additionally, AmeriCorps leases motor vehicles on an annual basis through GSA under an 

Interagency Fleet Management Service agreement for the NCCC. The leases are renewable 

with no purchase or escalation clause. The following schedule presents future minimum 

rental commitments under operating leases as of September 30 of each year. 

Unaudited 2020 (in thousands) 

Facilities 

Fiscal Year Space Vehicles Other Total 

2021 $ 9,788 $ 790 $ 131 $ 10,709 

2022 10,091 799 66 10,956 

2023 10,403 808 66 11,277 

2024 10,726 818 66 11,610 

2025 11,058 828 66 11,952 

Total $ 52,066 $ 4,043 $ 395 $ 56,504 

Unaudited 2019 (in thousands) 

Facilities 

Fiscal Year Space Vehicles Other Total 

2020 $ 9,788 $ 790 $ 148 $ 10,726 

2021 10,091 799 66 10,956 

2022 10,403 808 66 11,277 

2023 10,726 818 66 11,610 

2024 11,058 828 66 11,952 

Total $ 52,066 $ 4,043 $ 412 $ 56,521 

NOTE 8 – ACTUARIAL FECA LIABILITY 

AmeriCorps’ actuarial liability for future workers’ compensation benefits under FECA was 

$7.5 million and $6.8 million (unaudited) as of September 30, 2020 and 2019 respectively. 

The amount includes the expected liability for death, disability, medical, and miscellaneous 

costs for approved compensation cases. AmeriCorps’ Actuarial FECA liability is determined 

by DOL. 

NOTE 9 – ADVANCES FROM OTHERS 

Advances from Others consists of advances from other federal government entities and 

nonfederal entities related to the interagency and cost share agreements into which 

AmeriCorps entered to provide services. Advances from others primarily consist of Federal 

Emergency Management Agency (FEMA), Department of Veterans Affairs (VA), Department 

of Justice (DOJ), Department of Housing and Urban Development (HUD), and Department of 

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212 

Agriculture (USDA) related reimbursable activities. Advances as at September 30, 2020 is: 

(in thousands) 

Unaudited 

2020 

Unaudited 

2019 

Intragovernmental 

Advances from Others $ 9,919 $ 8,768 

With the Public 

Advances from Others 325 

Total $ 10,244 $ 8,980 

NOTE 10 – OTHER LIABILITIES 

Other liabilities include amounts owed but not paid at the end of the fiscal year for payroll 

and benefits, AmeriCorps VISTA stipends, the amount of claim for benefits for AmeriCorps’ 

employees under FECA that have been paid by DOL and billed to AmeriCorps but have not 

yet been reimbursed to DOL, other unfunded employment related liability, liability for nonfiduciary deposit funds and un-deposited collections, and accounts payable canceled 

appropriations. Other liabilities as of September 30, 2020 and 2019 is as follows: 

(in thousands) Unaudited 2020 

Non- Total 

Intragovernmental: Currents Currents Liabilities 

Unemployment Benefits 572 572 

Unfunded FECA $ - $ 1,577 $ 1,577 

Employee Benefits and Payroll Taxes - (19) (19) 

Total Intragovernmental Liabilities - 2,130 2,130 

Non-Intragovernmental: 

Member Payroll Withholding Taxes - 2,170 2,170 

Accrued Funded Payroll & Benefits - 2,790 2,790 

Accrued Volunteer Benefits - 728 728 

Accrued Unfunded Member Benefits 3,620 - 3,620 

Other Accrued Expenses - 114 114 

Total Non-Intragovernmental Liabilities 3,620 5,802 9,422 

Total Other Liabilities $ 3,620 $ 7,931 $ 11,552 

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(in thousands) 

(in thousands) Unaudited 2019 

Non- Total 

Intragovernmental: Current s Current s Liabilities 

Unfunded FECA $ - $ 1,846 $ 1,846 

Employee Benefits and Payroll Taxes - 197 197 

Total Intragovernmental Liabilities - 2,043 2,043 

Non-Intragovernmental: 

Member Payroll Withholding Taxes - 2,842 2,842 

Accrued Funded Payroll & Benefits - 2,583 2,583 

Accrued Volunteer Benefits - 3,059 3,059 

Accrued Unfunded Member Benefits 757 - 757 

Other Accrued Expenses - 8 8 

Total Non-Intragovernmental Liabilities 757 8,492 9,249 

Total Other Liabilities $ 757 $ 10,535 $ 11,292 

NOTE 11 – FUNDS FROM DEDICATED COLLECTIONS 

Funds from dedicated collections are presented on a combined basis. The table below 

shows the balances as of September 30, 2020 and 2019 is as follows. 

Unaudited Unaudited 

2020 2019 

Balance Sheet 

Intragovernmental 

Fund Balance with Treasury $ 2,058,467 $ 1,346,606 

Investments, net 185,714 756,080 

Accounts receivable 166 167 

Total Intragovernmental 2,244,348 2,102,853 

Cash and other Monetary Assets 4 

Advances to Others 66,399 68,777 

Accounts Receivable 999 4,345 

Property and Equipment 3,651 368 

Total Assets 2,315,397 2,176,346 

Intragovernmental 

Other Liabilities (2,130) (2,042) 

Advances from Others (9,919) (8,768) 

Total Intragovernmental Liabilities (12,049) (10,810) 

Trust Service Award Liability (438,294) (375,834) 

Grant Payable (108,789) (115,316) 

Accounts Payable (1,543) (26,695) 

Actuarial FECA (7,497) (6,817) 

Advances from Others (325) (212) 

Accrued Annual Leave (4,502) (4,030) 

Other Liabilities (9,422) (9,415) 

Total Liabilities (582,421) (549,129) 

Unexpended Appropriations (1,098,387) (1,009,773) 

Cumulative results of Operations (634,589) (617,445) 

Total Liabilities and Net Position (2,315,397) (2,176,346) 

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Statement of Net Cost 

Gross Program Cost 1,010,498 1,120,530 

Less Earned Revenue (31,885) (52,979) 

Net Cost of Operations 978,613 1,067,550 

Statement of Changes in Net Position 

Net Position beginning of period (1,719,402) (1,658,470) 

Taxes and Nonexchange revenue (986,297) (1,030,920) 

Other Financing Sources (5,891) (5,377) 

Net Cost of Operations 978,613 1,067,550 

Change in Net Position (13,574) 31,253 

Net position end of period $ (1,732,976) $ (1,627,217) 

NOTE 12 – APPROPRIATIONS RECEIVED BY THE NATIONAL SERVICE TRUST 

As of September 30, 2020, the National Service Trust received $208.3 million (unaudited) and 

$206.8 million in 2019. Under the provisions included in its annual appropriations and under 

42 U.S.C. 12601a, AmeriCorps is also authorized to transfer additional amounts from subtitle 

C program funds to the National Service Trust to support the activities of national service 

participants. 

NOTE 13 – COST AND EXCHANGE REVENUE 

Costs for each sub-program are reported on the Statement of Net Cost. 

AmeriCorps engages members in service to address local community needs in areas of 

education, healthy futures, environmental stewardship, economic opportunity, disaster 

services, and assisting veterans and military families. The State and National sub-program 

includes grant expenses, as well as direct and allocated personnel and administrative costs 

including National Service Trust operations. The NCCC sub-program includes member 

stipend and benefits, and direct and allocated personnel and administrative costs including 

AmeriCorps recruitment and National Service Trust operations. 

The VISTA sub-program includes grant expenses, member stipend and benefits, as well as 

direct and allocated personnel and administrative costs including AmeriCorps recruitment 

and National Service Trust operations. 

AmeriCorps Seniors RSVP, FGP, and SCP programs provide opportunities for members 55 

and older to address local community needs in the areas of education, assisting veterans and 

military families, disaster response, and healthy futures. The AmeriCorps Seniors programs 

include grant expenses, as well as direct and allocated personnel and administrative costs. 

AmeriCorps also has reimbursable agreements with several state agencies whereby 

AmeriCorps awards and administers grants to a list of grantees selected and funded by the 

State (pass-through grants). The activity related to pass-through grants has been reclassified 

to be associated with the related AmeriCorps Seniors program. 

The National Service Award Expense component consists of the AmeriCorps’ estimated 

expense for education awards based on the increase in its service award liability during the 

year and interest forbearance costs on qualified student loans during the period members 

44 
 

 

 

 

 

 

perform community service. No indirect costs have been allocated to the National Service 

Award expense component. 

Innovation, Demonstration, & Assistance Activities (ID&A Activities) include grants to support 

and encourage new forms of service and volunteering. No indirect costs have been allocated 

to the Innovation, Demonstration, & Assistance Activities component. 

The “J Special Authority” is referred to Section 179(j) of the National and Community 

Service Act, as amended (NCSA). This section allows AmeriCorps to reserve not more than 

one percent of the total funds appropriated for a fiscal year under section 501 of the NCSA to 

support program accountability activities. 

The Office of Inspector General (OIG) receives a separate appropriation. No indirect costs 

have been allocated to OIG. 

NOTE 14 – NATIONAL SERVICE AWARD EXPENSE 

Members serving in approved national service positions are eligible to earn a Segal 

AmeriCorps Education Award to pay for qualified education expenses. The National Service 

Trust also pays interest forbearance costs on qualified student loans during the period 

members perform community service. 

AmeriCorps estimates the expense for national service awards based on the increase in its 

cumulative service award liability during the year (see Note 6). The total service award liability 

as of September 30, 2020 and 2019, respectively, has been adjusted to reflect the fact that 

earned awards are not always used. 

(in thousands) 

Unaudited 

2020 

Unaudited 

2019 

Estimated Education Awards $ 210,766 $ 231,098 

Estimated Interest Forbearance 6,004 11,733 

National Service Award Expense $ 216,770 $ 242,830 

NOTE 15 – CONTINGENCIES 

AmeriCorps is a party to various routine administrative proceedings, legal actions, and claims 

brought by or against it, including threatened or pending litigation involving labor relations 

claims, some of which may ultimately result in settlements or decisions against AmeriCorps. 

In the opinion of AmeriCorps’ management and legal counsel, there are no proceedings, 

actions, or claims outstanding or threatened that would materially impact the financial 

statements of AmeriCorps. 

Certain legal matters to which AmeriCorps is a party may be administered and, in some 

instances, litigated and paid by other federal agencies. Generally, amounts of more than $2.5 

thousand paid for Federal Tort Claims Act settlements or awards pertaining to these 

litigations are funded from the Treasury Judgment Fund (TJF). Although the ultimate 

disposition of any potential TJF proceedings cannot be determined, management does not 

expect that any liability or expense that might ensue would be material to AmeriCorps’ 

financial statements. 

45 
 

 

 

 

 

 

 

 

 

NOTE 16 – SUBSEQUENT EVENTS 

AmeriCorps has evaluated subsequent events through November 7, 2019, which is the date 

these financial statements were available to be issued. Because of its evaluation, AmeriCorps 

has determined that no subsequent events need to be recognized or disclosed. 

NOTE 17 - UNDELIVERED ORDERS AT THE END OF THE PERIOD 

AmeriCorps’ undelivered orders as of September 30, 2020 and 2019, is as follows: 

Unaudited Unaudited 

(in thousands) 2020 2019 

Intragovernmental 

Undelivered Orders - Unpaid $ 6,619 $ 7,984 

Undelivered Orders - Paid (90) 458 

Total Intragovernmental Undelivered 

orders 6,529 8,442 

With the Public 

Undelivered Orders - Unpaid 992,856 847,613 

Undelivered Orders - Paid 66,489 69,063 

Total with the public 1,059,345 916,676 

Total Undelivered orders $ 1,065,874 $ 925,118 

NOTE 18 – EXPLANATION OF THE DIFFERENCES BETWEEN STATEMENT OF 

BUDGETARY RESOURCES AND THE PRESIDENTS BUDGET 

The FY 2020 Budget of the United States Government (President’s Budget), which presents 

the actual amounts for the year ended September 30, 2020 and 2019, has not been 

published as of the issue date of these financial statements. The FY 2020 President’s Budget 

is scheduled for release in February 2020 and can be found on the OMB website: 

http://www.whitehouse.gov/omb at that time. 

A reconciliation of the FY 2020 Statement of Budgetary Resources to the FY 2020 President’s 

Budget (FY 2020 actual amounts) for budgetary resources, new obligations and upward 

adjustments, distributed offsetting receipts, and net outlays is presented below: 

Budgetary Obligations Distributed Net 

Resources Incurred Offsetting Outlays 

Receipts 

Unaudited 2020 (in millions) 

Combined Statement of 

Budgetary Resources $ 1,713 $ 1,366 $ 228 $ 1,198 

Difference (Expired Funds) (147) 

Other 1 (3) 2 

Budget of the U. S. 

Government $ 1,566 $ 1,367 $ 225 $ 1,200 

46 
Budgetary Obligations Distributed Net 

Resources Incurred Offsetting Outlays 

Receipts 

Unaudited 2019 (in millions) 

Combined Statement of 

Budgetary Resources $ 1,648 $ 1,162 $ 215 $ 1,198 

Difference (Expired Funds) (111) (7) 

Other (10) 

Budget of the U. S. 

Government $ 1,537 $ 1,155 $ 215 $ 1,188 

47 
 

 

 

 

 

 

PART E. NATIONAL SERVICE TRUST FUND FINANCIAL STATEMENTS 

AmeriCorps 

National Service Trust 

Unaudited Balance Sheet 

As of September 30, 2020, and 2019 

(in thousands) 

Unaudited Unaudited 

2020 2019 

Assets 

Intragovernmental: 

Fund Balance with Treasury (Note 2) $ 896,650 $ 243,892 

Investments (Note 3) 185,714 756,080 

Total Intragovernmental 1,082,365 999,972 

Liabilities 

Trust Service Award Liability (Note 6) 438,294 375,834 

Total Liabilities $ 438,294 $ 375,834 

Net Position 

Cumulative Results of Operations 644,070 624,138 

Total Net Positions 644,070 624,138 

Total Liabilities & Net Position $ 1,082,365 $ 999,972 

The accompanying notes are an integral part of these statements. 

48 
AmeriCorps 

National Service Trust 

Unaudited Statement of Net Cost 

For the Periods Ended September 30, 2020 and 2019 

(in thousands) 

Gross Cost: 

Operating Expense (Note 6) 

Less Earned Revenue: 

Intragovernmental 

Interest Revenue 

Operating Revenue 

Total Earned Revenue 

$ 

Unaudited Unaudited 

2020 2019 

216,770$ 242,830 

(14,723) (17,650) 

(108) (944) 

(14,831) (18,594) 

Net cost of operations $ 201,940$ 224,236 

The accompanying notes are an integral part of these statements. 

49 
 

 

 

 

AmeriCorps 

National Service Trust 

Unaudited Statement of Change in Net Position 

As of September 30, 2020, and 2019 

(in thousands) 

Unaudited Unaudited 

2020 2019 

Cumulative Results of Operation: 

Beginning Balance as adjusted $ 624,138 $ 623,534 

Budgetary Financing Sources 

Transfers in / out without reimbursement 221,872 224,840 

Total Financing sources 221,872 224,840 

Net Cost of Operations 201,940 224,236 

Net Change 19,932 604 

Cumulative Results of Operations 644,070 624,138 

Net Position $ 644,070 $ 624,138 

The accompanying notes are an integral part of these statements. 

50 
 

 

 

 

 

 

 

 

 

 

 

AmeriCorps 

National Service Trust 

Unaudited Statement of Budgetary Resources 

As of September 30, 2020, and 2019 

(in thousands) 

Unaudited Unaudited 

2020 2019 

Budgetary Resources 

Unobligated balance from prior year 

budget authority, net (discretionary and 

mandatory) $ 216,312 $ 213,337 

Appropriations (discretionary and mandatory) 231,893 234,963 

Spending authority from offsetting 

collections (discretionary and mandatory) 18,300 944 

Total Budgetary Resources $ 466,504 $ 449,244 

Status of Budgetary Resources 

New Obligations and upwards adjustment $ 101,287 $ 232,778 

Apportioned 282,339 63,831 

Unapportioned, Unexpired 82,878 152,635 

Unexpired, Unobligated 365,217 216,466 

Unobligated Balance End of Year 365,217 216,466 

Total Budgetary Resources $ 466,504 $ 449,244 

Outlays, Net 136,010 170,231 

Distributed Offsetting Receipts 7,660 (224,840) 

Agency Outlays, Net $ 143,670 $ (54,609) 

The accompanying notes are an integral part of these statements. 

51 
 

 

 

 

 

PART F. NOTES TO NATIONAL SERVICE TRUST FUND FINANCIAL STATEMENTS 

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 

L. REPORTING ENTITY 

AmeriCorps was created by the National and Community Service Trust Act of 1993 (Public 

Law 103-82). 5 AmeriCorps’ mission is to improve lives, strengthen communities, and foster 

civic engagement through service and volunteering. To meet its mission, AmeriCorps 

provides grants and other assistance to states, local communities, and nonprofit 

organizations to help communities meet critical challenges in the areas of education, healthy 

futures, environmental stewardship, economic opportunity, disaster services, and assisting 

veterans and military families through volunteer service. AmeriCorps’ major programs are as 

follows: 

• AmeriCorps State and National offers grants supporting a broad range of local 

service programs that engage thousands of Americans in intensive service to meet 

critical community needs. 

• AmeriCorps VISTA helps community organizations and public agencies create and 

expand programs that build capacity and ultimately bring low-income individuals and 

communities out of poverty. 

• AmeriCorps NCCC strengthens communities while developing leaders through 

direct, team-based national and community service. 

• AmeriCorps State Service Commission Support Grants support the shared federalstate partnership with a central role for governors in designing and implementing 

national service through governor-supported State Service Commissions. 

• AmeriCorps Seniors RSVP, Foster Grandparent, and Senior Companion programs 

offer a network of programs that tap into the rich experience, skills and talents of 

older citizens to meet community challenges. 

• AmeriCorps State Service Commission Support Grants (State Commission Support) 

offers grants supporting shared federal-state partnership with a central role for 

governors in designing and implementing national service through governorsupported State Service Commissions. 

A. BASIS OF ACCOUNTING AND PRESENTATION 

The financial statements and footnotes for FY 2020 are presented on a single year basis. 

AmeriCorps uses the accrual and budgetary basis of accounting in conformity with the 

Generally Accepted Accounting Principles (GAAP) for the federal government. Under the 

accrual method of accounting, revenues are recognized when earned and expenses are 

recognized when incurred, without regard to the actual collection or payment of cash. 

Federal budgetary accounting recognizes the obligation of appropriations and other funds 

upon the establishment of a properly documented commitment. 

5 The Trust Act created the Corporation for National and Community Service. On September 29, 2020 

the Corporation adopted the operating name “AmeriCorps”. 

52 
 

 

 

 

 

 

B. USE OF ESTIMATES 

The preparation of financial statements in accordance with GAAP requires AmeriCorps to 

make estimates and assumptions about future events. These estimates and assumptions 

affect the amounts reported in AmeriCorps’ financial statements and accompanying notes. 

AmeriCorps evaluates its estimates and assumptions on an ongoing basis using historical 

experience and other factors that it believes to be reasonable under the circumstances. 

Adjustments to estimates and assumptions are made when facts and circumstances warrant. 

As future events and their effects cannot be determined with certainty, actual results could 

differ from the estimates used in preparing the accompanying financial statements. 

Significant estimates and assumptions are required as part of determining the liability for 

service awards, grants payable, accounts payable and payroll as well as adjustments to the 

grant advances. 

C. FUND BALANCE WITH TREASURY 

Fund Balance with Treasury (FBWT) represents cash and cash equivalents in AmeriCorps’ 

accounts with the Department of the Treasury. Treasury processes cash receipts and 

disbursements on behalf of AmeriCorps and AmeriCorps’ accounting records are reconciled 

with those of Treasury on a regular basis. 

The FBWT maintained in the National Service Trust is restricted to specific purposes, such as 

paying service awards certified as payable to eligible participants and is not available for use 

in the current operations of AmeriCorps. In addition, the majority of the funds received from 

individuals and organizations for deposit in the Gifts and Contributions fund are restricted for 

uses, such as service projects (See Note 2). 

D. OTHER MONETARY ASSETS 

Other monetary assets consist of paper currency and readily negotiable instruments, such as 

money orders, checks, and bank drafts on hand or deposit in transit. 

E. INVESTMENTS 

By law, AmeriCorps may invest the funds of the National Service Trust in interest-bearing 

Treasury securities guaranteed by the United States as to principal and interest. These 

Treasury securities are referred to as “market-based,” since they mirror actual Treasury 

securities sold on the open market. They consist of Treasury notes, bonds, and bills. Since 

they are expected to be held-to-maturity, AmeriCorps’ investments are valued at cost and 

adjusted for the amortization of premiums and discounts. The premiums and discounts are 

recognized as adjustments to interest income and are amortized using the level 

yield/effective interest method for the Notes and straight-line method for the Bills. 

F. TRUST SERVICE AWARD LIABILITY 

The Trust Service Award Liability represents unpaid education awards and eligible student 

loan interest forbearance costs, which are expected to be used upon certification. These 

amounts relate to participants who have completed service based on AmeriCorps’ historical 

experience. 

53 
 

 

 

 

G. RESTATEMENTS 

Certain prior year amounts have been restated to correct errors in the Balance Sheet, 

Statement of Net Costs and Statement of Changes in Net Positions and Notes to the Financial 

Statements. 

NOTE 2 – FUND BALANCE WITH TREASURY 

AmeriCorps is funded with appropriations from General Funds and Trust Funds. While 

amounts appropriated from the General Fund of the Treasury are included in the FBWT, Trust 

Funds investments are not. The Trust Funds investments are redeemed, as needed to meet 

the cash disbursement needs, at which time the funds are transferred from the Trust Fund to 

FBWT. The Trust Fund is for providing education award or student loan interest forbearance 

expense, whereas the General Fund is for operating expenses. The FBWT as of September 

30, 2020 and 2019 is as follows: 

(in thousands) Unaudited 

2020 

Unaudited 

2019 

Funds Balances 

Trust Fund 

Status of Fund Balance with 

Treasury 

Unobligated Balance 

Available 

Obligated not yet disbursed 

Total 

$ 896,650 

330,017 

566,633 

$ 896,650 

$ 243,892 

(375,764) 

619,656 

$ 243,892 

AmeriCorps’ FBWT is classified as unobligated balance available, obligated not yet disbursed 

and non-budgetary fund balance. Unobligated Balance available represents apportionment 

for obligations in current and unexpired appropriations available for new obligations. 

Obligated Balance not yet disbursed, represents undelivered orders and those delivered but 

not paid offset by Trust Funds investments. Therefore, the unobligated and obligated 

balances presented may not equal related amounts reported on the Consolidated Statement 

of Budgetary Resources. Non-budgetary funds refer to deposit funds with no budget 

authority. 

NOTE 3 – INVESTMENTS 

By law, AmeriCorps may invest the funds of the National Service Trust in interest-bearing 

Treasury securities guaranteed by the United States as to principal and interest. AmeriCorps’ 

investments are valued at cost and adjusted for the amortization of premiums and discounts 

Investment are held to maturity. Interest income are paid by Treasury semi-annually. As of 

September 30, 2020, and 2019 for Investment composition is: 

54 
 

 

 

 

 

 

 

 

2020 Unaudited (in thousands) 

U.S. 

Treasury 

Marketable 

Securities 

Bills 

Notes 

Total 

$ 

$ 

Cost 

115,800 

69,400 

185,200 

Amortized 

(Premium) 

Discount 

$ 45 

276 

$ 321 

Interest 

Receivable 

$ - $ 

194 

$ 194 $ 

Investments, 

Net 

115,844 

69,870 

185,714 

$ 

$ 

Market 

Value 

115,853 

70,015 

185,868 

U.S. 

Treasury 

Marketable 

Securities Cost 

2019 Unaudited (in thousands) 

Amortized 

(Premium) Interest 

Discount Receivable 

Investments, 

Net 

Market 

Value 

Bills $ 110,862 $ 462 $ - $ 111,324 $ 111,599 

Notes 640,540 3,274 942 644,756 648,037 

Total $ 751,401 $ 3,736 $ 942 $ 756,080 $ 759,636 

NOTE 4 – TRUST SERVICE AWARD LIABILITY 

Individuals who successfully complete terms of service in certain AmeriCorps programs earn 

Segal AmeriCorps Education awards, which can be used to make payments on qualified 

student loans or for educational expenses at qualified educational institutions. The education 

award generally must be used within seven years of completion date of an approved term of 

national service. If the education award is transferred to an eligible individual or is a Summer 

of Service award (which was available to youth enrolled in grades 6 through 9), the use 

period is ten years. These awards, as well as interest forbearance payments on qualified 

student loans during the period members perform their service, are paid from the National 

Service Trust Fund. The Service Award Liability as of September 30, 2020 and 2019 are as 

follows: 

Unaudited 

2020 

Unaudited 

2019 

Cumulative Education Awards Earned 

Cumulative Interest Forbearance Earned 

Total Cumulative Awards Earned 

Less: Discount for Usage and Statistics 

Less: Cumulative Awards paid 

Total Liability for Awards Earned 

Total Liability for Awards not yet Earned 

Total 

$ 

$ 

4,137,288 

216,794 

4,354,081 

(888,003) 

(3,153,340) 

318,278 

120,016 

438,294 

$ 

$ 

3,906,180 

126,057 

4,032,237 

(724,124) 

(2,998,015) 

310,098 

65,736 

375,834 

(in thousands) 

55 
 

 

 

As of September 30, 2020, and 2019, the National Service Trust received $208.3 million and 

$206.8 million respectively (unaudited). Under the provisions included in its annual 

appropriations and under 42 U.S.C. 12601a, AmeriCorps is also authorized to transfer 

additional amounts from subtitle C program funds to the National Service Trust to support 

the activities of national service participants. 

NOTE 6 – NATIONAL SERVICE AWARD EXPENSE 

Members serving in approved national service positions are eligible to earn a service award 

to pay for qualified education expenses. The National Service Trust also pays interest 

forbearance costs on qualified student loans during the period members perform community 

service. 

AmeriCorps estimates the expense for national service awards based on the increase in its 

cumulative service award liability during the year (see Note 6). The total service award liability 

as of September 30, 2020 and 2019, respectively, has been adjusted to reflect the fact that 

earned awards are not always used. 

(in thousands) 

Unaudited 

2020 

Unaudited 

2019 

Estimated Education Awards $ 210,766 $ 231,098 

Estimated Interest Forbearance 6,004 11,733 

National Service Award Expense $ 216,770 $ 242,830 

NOTE 7 – CONTINGENCIES 

AmeriCorps is a party to various routine administrative proceedings, legal actions, and claims 

brought by or against it, including threatened or pending litigation involving labor relations 

claims, some of which may ultimately result in settlements or decisions against AmeriCorps. 

In the opinion of AmeriCorps’ management and legal counsel, there are no proceedings, 

actions, or claims outstanding or threatened that would materially impact the financial 

statements of AmeriCorps. 

Certain legal matters to which AmeriCorps is a party may be administered and, in some 

instances, litigated and paid by other federal agencies. Generally, amounts paid more than 

$2.5 thousand for Federal Tort Claims Act settlements or awards pertaining to these 

litigations are funded from the Treasury Judgment Fund (TJF). Although the ultimate 

disposition of any potential TJF proceedings cannot be determined, management does not 

expect that any liability or expense that might ensue would be material to AmeriCorps’ 

financial statements. 

NOTE 8 – SUBSEQUENT EVENTS 

AmeriCorps has evaluated subsequent events through November 7, 2020, which is the date 

these financial statements were available to be issued. Because of its evaluation, AmeriCorps 

has determined that no subsequent events need to be recognized or disclosed. 

56 
VII. OTHER INFORMATION 

PART A. SUMMARY OF FINANCIAL STATEMENT AUDIT & MANAGEMENT ASSURANCES 

Table 1. Summary of Financial Statement Audit 

Audit Opinion Disclaimer 

Restatement Yes 

Material 

Weaknesses 

Beginning 

Balance 

New Resolved Consolidated Ending 

Balance 

Financial Reporting 1 1 

Trust Fund Unpaid 

Obligations and 

Liability 

1 1 

Grants Accrual 

Payable and 

Advances 

1 1 

Undelivered Orders 

and Accounts 

Payable 

1 1 

Property, Plant & 

Equipment 

1 1 

Undelivered Orders 

– Grant 

1 1 

Prior Year 

Recoveries 

1 1 

Other Liabilities 1 1 

Internal Control 

Program 

1 1 

Total Material 

Weaknesses 

9 9 

Table 2. Summary of Management Assurances 

Effectiveness of Internal Control over Financial Reporting (FMFIA § 2) 

Statement of 

Assurance 

No Assurance 

Material 

Weaknesses 

Beginning 

Balance 

New Resolved Consolidated Reassessed Ending 

Balance 

[Name of weakness] 

[Name of weakness] 

[Name of weakness] 

Total Material 

Weaknesses 

57 
 

 

 

Effectiveness of Internal Control over Operations (FMFIA § 2) 

Statement of 

Assurance 

No Assurance 

Material 

Weaknesses 

Beginning 

Balance 

New Resolved Consolidated Reassessed Ending 

Balance 

[Name of weakness] 

[Name of weakness] 

Total Material 

Weaknesses 

Conformance with Federal Financial Management System Requirements (FMFIA § 4) 

Statement of 

Assurance 

Federal Systems conform, except for instances of non-conformance, 

or do not conform to financial management system requirements 

Non-Conformances Beginning 

Balance 

New Resolved Consolidated Reassessed Ending 

Balance 

[Name of nonconformance] 

[Name of nonconformance] 

[Name of nonconformance] 

Total nonconformances 

Compliance with Section 803(a) of the Federal Financial Management Improvement 

Act (FFMIA) 

Agency Auditor 

1. Federal Financial 

Management 

System 

Requirements 

No lack of compliance noted, or 

Lack of compliance noted 

No lack of compliance 

noted, or 

Lack of compliance 

noted 

2. Applicable 

Federal Accounting 

Standards 

No lack of compliance noted, or 

Lack of compliance noted 

No lack of compliance 

noted, or 

Lack of compliance 

noted 

3. USSGL at 

Transaction Level 

No lack of compliance noted, or 

Lack of compliance noted 

No lack of compliance 

noted, or 

Lack of compliance 

noted 

58 
 

 

 

 

 

 

 

 

 

 

 

 

 

PART B. PAYMENT INTEGRITY & FRAUD REDUCTION REPORT 

I. Actions Taken to Address Auditor Recovery Recommendation 

AmeriCorps does not have a recovery audit program because it is not cost effective for the 

agency. 

II. Fraud Reduction Report 

On June 30, 2016 the president of the United States signed into law the Fraud Reduction and 

Data Analytics Act of 2015 (Public Law No.114-186). This legislation emphasizes the 

importance for federal agencies to identify, assess, and address fraud risks. Since the 

enactment of the law, AmeriCorps has reinforced its anti-fraud efforts through the following 

activities. 

Implementation of the GAO’s Framework for Managing Fraud Risks in 

Federal Programs 

AmeriCorps implemented of the GAO’s Framework for Managing Fraud Risk in the 

Federal Government. 

1. Fraud Risk Management Governance Body 

In order to demonstrate its commitment to combating fraud, AmeriCorps created a 

fraud risk subcommittee of its risk assessment committee, composed of the Chief 

Financial Officer (CFO); Director of Procurement Services; Chief Human Capital 

Officer (CHCO); Chief Information Officer (CIO); Deputy General Counsel; Director of 

the Office of Grants Administration; Chief Program Officer (CPO); and the Chief Risk 

Officer. The members of this body were selected across functional areas. The crossfunctional nature of the team fosters the breakdown of silos in fraud risks assessment 

and helps identify fraud risk interactions across functions. 

The roles of this body include identifying and analyzing fraud risk and providing 

effective oversight to the internal controls over fraud risks. OCRO provides periodic 

training to the members of the fraud risks governance body on the Program Integrity: 

the Antifraud Playbook developed by the Chief Financial Officers Council (CFOC) and 

the U.S. Department of the Treasury, Bureau of the Fiscal Service to help advance the 

goal of safeguarding public resources. 

2. Update of AmeriCorps’ Fraud Risk Profile 

Under the oversight of the fraud risk subcommittee, the Office of the Chief Risk Officer 

has created the AmeriCorps fraud risk profile. The members of the subcommittee 

identified thirty-five (35) inherent fraud risks that were assessed on a two-dimensional 

criterion: likelihood and impact. Those risks were both mission and mission-support 

related. AmeriCorps’ internal control program (ICP) identified the counter measures 

(existing fraud prevention and detection controls) that were designed and 

implemented to address those risks. In FY 2019, as part of its risk-based rotational 

control testing, the ICP assessed the operating effectiveness of 62 percent of the 

59 
 

 

 

 

 

 

identified fraud risk controls and found them to be effective. In FY 2020, the ICP 

tested 28 percent of those controls and found them to be effective. These fraud risk 

controls are control activities related to agency processes and do not assess grantee 

processes. 

In FY2021, the ICP will reperform the Fraud Risk Assessment to determine whether 

new fraud risks have developed as a result of changes in the AmeriCorps organization 

structure and the move of key financial and certain other systems to shared services 

provider (the Administrative Resource Center within the US Department of the 

Treasury). 

III. Optional Reporting 

AmeriCorps is electing to include its improper payments estimates in its AMR, which can also 

be found on https://paymentaccuracy.gov/. 

AmeriCorps has four programs determined to be susceptible to significant improper 

payments – State and National, the Foster Grandparent Program (FGP), RSVP, and the Senior 

Companion Program (SCP). AmeriCorps implemented a corrective action to address the 

agency’s primary cause of found improper payment, which is non-compliant National Service 

Criminal History Check (NSCHC) files. The agency reduced the barrier to compliance by 

providing agency-approved vendors to complete the checks. The corrective action proved 

effective, which a reduction in rates between 48.5-64.7 percent per program, see below. 

FY19 to FY20 Improper Payment Rates 

FY2020 Testing Results 

Improper Payment Rates (%) 

Program FY19 FY20 Percent Reduction 

State and National 16.5% 8.5% -48.5% 

Foster Grandparent 27.8% 14.2% -48.9% 

RSVP 37.3% 17.4% -53.4% 

Senior Companion 28.3% 10.0% -64.7% 

FY2020 Testing Results 

Improper Payment Dollars ($M) 

Program FY19 FY20 Percent Reduction 

State and National $39.03 $22.14 -43.3% 

Foster Grandparent $25.74 $12.95 -49.7% 

RSVP $16.20 $7.41 -54.3% 

SCP $10.96 $3.87 -64.7% 

60 
 

 

 

 

 

PART C. CIVIL MONETARY PENALTY ADJUSTMENT FOR INFLATION 

Statutory 

Authority Penalty 

Year 

Enacted 

Latest Year 

of 

adjustment 

Current 

Penalty 

Level 

SubAgency/Bureau 

Unit 

Location 

of Penalty 

Update 

Details 

Pub. L. 101-121, 

Sec. 319, (31 

U.S.C. 1352); 

Pub. 

L. 93-113; 42 

U.S.C. 4951, et 

seq.; 42 U.S.C. 

5060 

The penalty 

associated 

with 

Restrictions 

on 

Lobbying 

(45 CFR 

1230.400) 

1990 2019 The current 

range of 

civil 

monetary 

penalties 

related to 

Restrictions 

on 

Lobbying is 

from 

$20,489 to 

$204,892. 

AmeriCorps* 84 Fed. 

Reg. 

70902 

(Dec. 26, 

2019) 

Pub. L. 99-509, 

Secs. 6101-

6104, 

100 Stat. 1874 

(31 

U.S.C. 3801-

3812); 

42 U.S.C. 

12651c12651d 

The penalty 

associated 

with the 

Program 

Fraud Civil 

Remedies 

Act (45 CFR 

2554.1) 

2006 2019 The upper 

limit 

for civil 

monetary 

penalties 

for the 

Program 

Fraud 

Civil 

Remedies 

Act of 1986 

is 

$11,665. 

AmeriCorps* 84 Fed. 

Reg. 

70902 

(Dec. 26, 

2019) 

*The Federal Register changes were posted under the Corporation for National and Community Service, which is the legal 

name of the AmeriCorps agency. 

61 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PART D. NATIONAL SERVICE TRUST FUND STATUS REPORT (As of September 2020) 

Table 1a 

AmeriCorps Member Position Award Activity 

Program Year 2020 

Certified Planned Awarded Not Not 

Program Enrolled Not Enrolled Awarded Certified Total 

STATE/NATL 

VISTA 

NCCC 

24,672 39,307 - -

6,052 - 199 0 

1,206 - 154 -

63,979 

6,251 

1,360 

Total 31,930 39,307 353 0 71,590 

The 71,590 Trust positions planned for Program Year 2020 do not include an estimated 

1,300 AmeriCorps members (1100 full time and 200 Summer Associates) in VISTA who 

elected an end-of-service stipend instead of an education award. Total estimated 

member positions for Program Year 2020, including AmeriCorps members in VISTA 

electing a stipend, is 71,590. Member enrollment and slot data are periodically adjusted 

to reflect corrections and slot reconfigurations by grantees; therefore, they may change 

slightly from month to month. 

Table 1b 

AmeriCorps Member Position Award Activity 

Program Year 2019 

Awarded Certified 

Not 

Planned 

Not 

Program Enrolled Not Enrolled Awarded Certified Total 

STATE/NATL 51,478 12,501 357 - 64,336 

VISTA 6,152 - 99 0 6,251 

NCCC 988 - 212 - 1,200 

Total 58,618 12,501 668 0 71,787 

The 71,787 Trust positions for Program Year 2019 do not include an estimated 1,300 

AmeriCorps members (1,100 full time and 200 Summer Associates) in VISTA who 

elected an end-of-service stipend instead of an education award. Total estimated 

member positions for Program Year 2019, including AmeriCorps members in VISTA 

electing a stipend, is 71,787. Of the 6,152 AmeriCorps member positions for VISTA in 

the Trust for 2020, 1,835 positions are for Summer Associates who receive a Trust award 

of $1,175. 

62 
 

 

 

Trust Awards 

Since AmeriCorps’ inception in 1993, AmeriCorps members have earned over $4.13 

billion in Segal AmeriCorps Education Awards and used over $3 billion of that amount 

to fund their education and repay student loans. In addition, AmeriCorps has made 

$131.32 million in interest forbearance payments. Approximately $537.75 million in 

education awards earned have expired without being used. The Trust obligation formula 

has been adjusted to reflect these expired awards. 

63 
 

 

 

 

 

Refilled Positions 

AmeriCorps policy allows grantees limited flexibility to refill positions vacated by a member 

who has served less than 30 percent of his or her service term, provided that the departing 

member had not earned a pro-rated education award. To prevent over-enrollment, the policy 

includes “fail safe” triggers that restrict the overall number of refills to no more than five 

percent of awarded positions and suspends refilling altogether if total AmeriCorps 

enrollment reaches 97 percent of awarded positions. Table 3 provides information on the 

number of positions refilled. Positions in Program Years 2010 and earlier can no longer be 

refilled. 

Table 3 

Number of Refilled Positions 

Program Years 

2015 2016 2017 2018 2019 2020 Fail-safe 

Trigger 

Number of Refilled 

Positions 1,158 1,026 1,026 1,026 N/A 0 N/A 

Refills as a Percent 

of Awarded State 

& National 

Positions 1.87% 1.57% 1.57% 1.57% 1.57% 0.00% 5% 

State & National 

Enrollment as a 

Percentage of 

Awarded Positions 98.1% 92.1% 92.1% 85.8% 85.8% 85.8% 97% 

64 
 

 

 

 

 

 

 

 

 

 

 

Table 4 shows the most significant factors used to calculate Trust obligations on a 

historical basis. It is important to note that Program Year refers to positions awarded with a 

fiscal year’s grant funds. Positions are often filled in time periods after the year in which 

they are awarded. For example, a grantee may receive a grant in fiscal year 2019 but not 

fill all positions until fiscal 2020. All positions related to this grant would be considered 

Program Year 2019 positions, irrespective of the fiscal year in which they are filled. The 

Reduced Part-time category below includes Reduced Halftime, Quarter time, Minimum 

time, and AmeriCorps Affiliates. 

Table 4 

Factors Affecting the National Service Trust Fund 

Program Year 

2016 2017 2018 2019 2020 

Member enrollments in 

the Trust 70,168 68,085 65,460 58,980 

Percent of members 

who earned an 

education award 82.64% 81.40% 80.44% 80.39% 

Percent of earned 

education awards used 58.20% 57.82% 47.42% 26.64% 

Breakout of enrollment 

by term type: 

Full-time 51% 50% 48% 49% 

Part-time 14% 14% 13% 0% 

Reduced Part-time 35% 35% 39% 51% 

22,590 

33.58% 

11.08% 

100% 

0% 

0% 

The Program Year data used throughout these tables reflect all enrollments recorded 

through the reporting period. Prior year enrollment numbers may change slightly from time 

to time due to corrections or late reporting by grantees. The percentage of members who 

earned an award in Table 4 is calculated by taking the number of members who earned an 

award divided by the total number of members who have ended service. For example, for 

2019: 

Enrolled: 58,618 

Still Earning: 12,501 

Completed: 46,117 (Enrolled less Still Earning) 

Awards Earned: 43,086 

% Earned: 93.43% (Awards Earned divided by Completed) 

65 
 

 

Tables 5 and 6 present information on the budgetary resources and obligations of the Trust, 

including the Trust Reserve. The schedules present information on a budgetary basis, which 

represents the accounting used to determine compliance with the Anti-Deficiency Act. 

AmeriCorps records Trust obligations at the time it awards AmeriCorps State & National 

grants or at the time it enters into an enforceable agreement with AmeriCorps members in 

NCCC and VISTA. 

The amounts obligated in the Trust are based on the estimated value of the education benefit 

discounted for estimated enrollment, earning and usage factors and the time value of money. 

For FY 2020, these factors are the full value of the Segal AmeriCorps Education Award, a 100 

percent enrollment rate (which allows for refills), an Authorized to Used rate of 69.31%, an 

Earning to Used rate of 69.09%, and an Earned to Used rate of 81.99%Under the National 

and Community Service Act, as amended, awards earned by members over age 55 can be 

transferred to an eligible beneficiary. For budgetary purposes we project that all transferable 

awards will eventually be used. Obligations are periodically adjusted to reflect current 

earning and usage projections. 

FEMA Corps is a unit of AmeriCorps' National Civilian Community Corps (NCCC) whose 

members are devoted solely to FEMA disaster response and recovery efforts. The fiveyear agreement provides for a service corps which compliments and supports FEMA's 

current disaster workforce. While FEMA provides funding for the Education Awards for 

the FEMA Corps members, they are shown in tables 5 and 6 as part of our budgetary and 

obligation activity. 

66 
Table 5 

AmeriCorps 

National Service Trust 

Schedule of Budgetary Activity for the Period Ended September 1, 2020 (000s) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recovery 

Act Other FEMA Corps 

General 

Fund Consolidated 

Funds Available at October 1 1,866 2 4,789 186,891 193,548 

Reserve Funds 3,500 46,697 50,197 

Total Starting Funds 5,366 2 4,789 233,528 243,745 

Budgetary Resources 

Fiscal Year Appropriation - - - 224,026 2242,026 

Less Unapportioned - - - - -

Deobligation Prior Year Positions (net) - - - - -

Collection of Audit Receivables - - - 108 108 

Less: Additions to Trust Reserve - - - - -

Total Budgetary Resources 5,366 2 4,789 455,723 465,879 

Obligations 

Education Awards 0 - (908) (97,599) (08,507) 

Interest Forbearance 0 - (25) (2,780) (2,805) 

Total Obligations 0 - (933) (100,379) (101,312) 

Commitments 

Education Awards - - - - -

Interest Forbearance - - - - -

Total Commitments - - - - -

Less Funds in Reserve (3,500) - - (46,697) (50,197) 

Funds Available for Obligation 1,866 2 3,855 308,647 314,370 

67 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table 6 

AmeriCorps 

National Service Trust 

Schedule of Trust Obligations as of September 1, 2020 (000s) 

Trust 

Recovery Trust FEMA General 

Resources Act Other Corps Fund Consolidated 

Fund Balance with Treasury 8,594 56 2,491 885,665 

Investments, Net 0 - 6,804 178,717 

Interest Receivable 1 - 2 191 

Accounts Receivable - - - -

Subtotal 8,595 56 9,296 1,064,572 

Less: 

Cumulative Trust Reserve (3,500) - - (46,697) 

Receivables Not Available for 

Obligation (1) - (16) (498) 

Unapportioned - - - (150,000) 

Total Resources 5,094 56 9,281 867,377 

Unliquidated Obligations 

Education 

Awards (3,141) (52) (5,279) (543,256) 

Interest Forbearance (87) (1) (146) (15,475) 

Total Unliquidated 

Obligations (3,228) (54) (5,425) (558,730) 

Commitments 

Education Awards - - - -

Interest Forbearance - - - -

Total Commitments - - - -

Funds Available for Obligation 1,866 2 3,855 308,647 

896,805 

185,521 

194 

-

1,082,519 

(50,197) 

(515) 

(150,000) 

881,808 

(551,729) 

(15,700) 

(567,438) 

-

-

-

314,370 

Enrollment Activity 

Table 7 presents cumulative data to date on Trust enrollments, education awards earned and 

used for Program Years 1994 through 2020 as well as Recovery Act positions. 

68 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table 7 

Program 

Year 

Trust Enrollment Activity – Program Years 1994 through September 1, 2020-

Members 

Earning Earned an Members Did Not or Not Award Amount Earned Type Enrolled Earn Exited 

Amount Used 

1994 

through 

2010 

Full Time 443,699 8 358,134 85,557 1,674,334,156 

Part-time 178,633 5 120,742 57,886 278,629,598 

Reduced Part- 267,355 7 211697 55,651 237,947,142 time 

1,360,585,096 

199,651,424 

180,552,386 

Total 889,687 20 690,573 199,094 2,190,910,896 1,740,788,906 

2011 

2011 

2011 

Full Time 35,764 2 31,465 4,297 170,191,819 

Part-time 10,351 2 8,377 1,972 22,515,239 

Reduced Part- 33,085 1 27,116 5,968 35,393,399 time 

142,178,858 

15,529,856 

25,922,503 

Total 79,200 5 66,958 12,237 228,100,456 183,631,217 

2012 

2012 

2012 

Full Time 36,273 4 31,895 4,374 171,046,684 

Part-time 9,577 1 7,771 1,805 21,026,223 

Reduced Part- 29,144 0 23,841 5,303 31,582,835 time 

142,669,779 

14,433,791 

22,683,651 

Total 74,994 5 63,507 11,482 223,655,742 179,787,221 

2013 

2013 

2013 

Full Time 37,043 4 32,239 4,800 173,380,017 

Part-time 8,783 0 6,889 1,894 18,664,779 

Reduced Part- 25,315 1 20,518 4,796 27,591,639 time 

140,771,074 

11,856,524 

19,110,900 

Total 71,141 5 59,646 11,490 219,636,435 171,738,498 

2014 

2014 

2014 

Full Time 37,969 12 32,783 5,174 179,126,649 

Part-time 8,662 0 6,746 1,916 18,555,164 

Reduced Part- 24,018 3 19,380 4,635 26,423,117 time 

138,263,494 

10,732,577 

17,393,683 

Total 70,649 15 58,909 11,725 224,104,929 166,389,754 

2015 

2015 

2015 

Full Time 37,187 21 31,597 5,569 174,748,479 

Part-time 9,173 5 7,146 2,022 19,879,307 

Reduced Part- 22,587 1 18,533 4,053 25,654,244 time 

126,937,918 

10,866,962 

16,162,693 

Total 68,947 27 57,276 11,644 220,282,030 153,967,573 

2016 

2016 

2016 

Full Time 35,513 57 29,743 5,713 165,632,923 

Part-time 9,577 10 7,381 2,186 20,687,282 

Reduced Part- 24,498 20 20,228 4,250 28,204,596 time 

109,886,098 

10,244,737 

17,176,559 

Total 69,588 87 57,352 12,149 214,524,801 137,307,394 

2017 

2017 

2017 

157,415,075 Full Time 34,108 28,221 5,848 39 

19,166,171 Part-time 9,383 6,810 2,557 16 

Reduced Part- 24,145 65 19,877 4,203 27,977,900 time 

94,231,548 

8,476,028 

15,618,042 

Total 67,636 120 54,908 12,608 204,559,146 118,325,618 

2018 

2018 

Full Time 31,815 83 26,200 5,532 148,125,838 

Part-time 8,314 71 6,034 2,209 17,228,310 

73,272,393 

5,572,834 

69 
 

 

 

 

 

 

 

70

Reduced Part- 2018 time 25,404 314 20,101 4,989 31,951,748 14,716,330 

Total 65,533 468 52,335 12,730 197,305,896 93,561,557 

2019 Full Time 28,984 2,073 22,729 4,182 131,773,238 37,481,318 

2019 Part-time 0 0 0 0 0 0 

Reduced 2019 Part-time 29,996 5,531 20,627 3,838 39,023,626 8,018,334 

Total 58,980 7,604 43,356 8,020 170,796,864 45,499,652 

Members 

Program 

Year Type 

Members 

Enrolled 

Earning 

or Not 

Exited 

Earned an 

Award Did Not 

Earn Amount Earned Amount Used 

2020 Full Time 22,590 21,265 445 880 2,630,594 291,466 

2020 Part-time 0 0 0 0 0 0 

2020 Reduced 0 0 0 0 0 0 

Part-time 

2020 Affiliate 0 0 0 0 0 0 

Total 22,590 21,265 445 880 2,630,594 291,466 

Cumulative to Date 1,538,945 29,621 1,205,265 304,059 4,096,507,790 2,991,288,857 

70