U.S. Trade and Development Agency

2014 ANNUAL REPORT
MISSION

The U.S. Trade and Development Agency helps companies create 

U.S. jobs through the export of U.S. goods and services for priority 

development projects in emerging economies. USTDA links U.S. 

businesses to export opportunities by funding project planning 

activities, pilot projects, and reverse trade missions while creating 

sustainable infrastructure and economic growth in partner countries.

TABLE OF CONTENTS

Message from the Director . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

2014: Year In Review: Opening the Door to Opportunity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Energy: Electrifying Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Transportation: Facilitating Trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

Telecommunications: Connecting the World . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

Making Global Local: Bringing Customers Closer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

USTDA Tools: Finding Pathways to Success . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

Evaluations: Using Data to Deliver Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

Client Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

Summary of FY 2014 Program Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

FY 2014 Program Activities Listed by Region................................................... 25

Financial Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

ABOUT THE USTDA 2014 ANNUAL REPORT PHOTOGRAPHY

Many of the photographs featured in this annual report were taken by USTDA staff members.
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 1

In Fiscal Year 2014, the U.S. Trade and Development Agency continued to link U.S. businesses 

to global infrastructure opportunities. The Agency supports U.S. exports while simultaneously 

providing important early project planning assistance in high-growth emerging markets, 

helping them to develop the needed infrastructure for trade. USTDA fosters mutually beneficial 

partnerships between the U.S. private sector and overseas project sponsors at this critical 

point in the project development process. 

As evidence of the Agency’s tremendous value at home and abroad, USTDA’s programs are 

now generating more U.S. exports per program dollar than at any other time in the Agency’s 

history: over $76 of exports for every dollar programmed. This is a marked increase from 

just five years ago, when the Agency generated $41 in exports for every dollar programmed. 

Further, the $5.8 billion in new exports identified this year brings USTDA’s total exports 

generated to date to over $41 billion. This ongoing success is the result of the Agency’s 

targeted, evidence-driven approach to allocating its resources to activities that provide the 

highest return on investment for U.S. taxpayers. 

With its innovative programs and ability to respond swiftly to the needs of its partners around the world, USTDA 

has consistently established itself as the leading U.S. government agency for project planning and development 

activities in emerging economies. This year, USTDA played a key role in helping the U.S. government make significant 

progress on its Power Africa initiative, which aims to increase electricity access in sub-Saharan Africa. USTDA 

also responded to the needs of its U.S. and overseas partners by launching the Global Procurement Initiative: 

Understanding Best Value to educate public procurement officials in emerging markets about how to establish 

procurement practices that integrate life-cycle cost analysis and best-value determination in a fair, transparent 

manner. Finally, in line with President Obama’s Climate Action Plan, the Agency strengthened its support of 

projects designed to mitigate the effects of climate change, reduce greenhouse gas emissions and bring cleaner 

sources of energy online around the world.

USTDA is proud of its contributions to the growth of U.S exports and to economic development in emerging markets. 

This report highlights just a few of the ways in which the Agency helped facilitate increased U.S. exports while 

fostering economic growth in its partner countries during the last fiscal year.

These activities were executed by the Agency’s knowledgeable, innovative staff. I am extremely proud to report 

that USTDA was ranked the Top Small/Independent Agency Performer Across All Indices in the Office of Personnel 

Management’s 2014 Federal Employee Viewpoint Survey. The Survey’s indices measure employee engagement, 

overall job satisfaction, workplace inclusion and human capital management — all of which are critical to recruiting 

and retaining talented individuals who can help accomplish USTDA’s mission. 

In closing, I want to thank USTDA’s outstanding staff. Their dedication is evident in everything they do, and in what 

the Agency is able to accomplish. 

Leocadia I. Zak

Director, U.S. Trade and Development Agency

MESSAGE FROM THE DIRECTOR

USTDA Director 

Leocadia I. Zak
2 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

2014: Year in Review

Opening the Door to Opportunity
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 3

USTDA also connects foreign project sponsors with 

U.S. businesses by hosting conferences, workshops 

and reverse trade missions. The Agency’s reverse trade 

missions are crafted to introduce overseas project 

sponsors to the design, manufacture and operation of 

U.S. goods and services as they are planning priority 

infrastructure projects. 

These activities produce results for both U.S. industry and 

USTDA’s partners in emerging markets: U.S. companies 

are provided access to the lead infrastructure project 

sponsors around the world, while foreign partners gain 

insight into the latest, most appropriate U.S. technologies 

and services to help them develop sustainable 

infrastructure. This infrastructure — including clean 

energy, transportation and telecommunications — fosters 

economic growth and facilitates local, regional and 

global trade. 

In FY 2014, USTDA continued to expand opportunities 

for U.S. businesses to export their goods and services 

to emerging markets — in support of jobs at home — 

by forging strategic relationships between the private 

and public sectors in the United States and its partner 

countries. The Agency continues to prioritize its funding 

for activities with a strong probability of effectiveness. 

This allows U.S. companies to build relationships and 

make sales to new markets, while developing and middleincome countries achieve their economic development 

goals. As a result of this targeted approach, this year 

alone, the Agency identified $5.8 billion of new exports 

generated from USTDA-funded activities, which have 

helped support approximately 32,000 jobs in the United 

States. The following activities demonstrate the benefits 

of USTDA’s unique brand of cooperation.

USTDA has a unique mandate: That is to invest in projects that lead to economic 

growth in emerging markets, while also identifying business opportunities for 

U.S. companies. The Agency accomplishes its mission by providing grants to 

overseas sponsors of priority infrastructure development activities in their 

countries. The funding may be used to perform a feasibility study, launch a pilot 

project or provide technical assistance specifically tailored to the grantee’s 

needs. These early-stage project planning activities often include in-depth 

technical, economic and financial analyses — which can help projects secure 

financing and reach implementation.

$5.8 B

New U.S. exports 

identified in 

FY 2014

32,000

Estimated U.S. jobs 

supported by 

USTDA exports 

in FY 2014

$41.6 B

Total U.S. 

exports generated 

by USTDA

programs

$76

U.S. exports 

generated 

for each $1  

invested
4 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

USTDA is helping to mitigate one of the challenges 

faced by its Power Africa partners: the lack of sufficient 

funding for vital project preparation activities. 
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 5

closer to bankability, and by unlocking the resources of 

both public and private financiers. 

Another area of focus for USTDA and its Power Africa 

partners is the need to improve the delivery and 

distribution of installed power, in addition to generating 

new power. As USTDA has long recognized the importance 

of improving electricity transmission and distribution, 

the Agency has been working to introduce its African 

partners to “smart grid” solutions, which can reduce 

technical power losses and increase service reliability. 

To demonstrate the effectiveness of U.S. smart grid 

technologies, USTDA sponsored a reverse trade mission 

to bring decision-makers from Nigeria’s recently 

privatized distribution companies to the United States. 

The delegates had indicated that they intended to invest 

$800 million to reduce electricity losses on their grids. 

The goal of the reverse trade mission was to ensure that 

they had access to U.S. technologies. As a direct result 

of the visit, four Nigerian utilities began commercial 

negotiations with U.S. companies to supply advanced 

distribution equipment, with several million dollars in 

U.S. exports now in process. To continue this success, 

USTDA is sponsoring follow-on activities to help three 

of the distribution companies develop comprehensive 

network modernization plans, which are expected to lead 

to additional sales for U.S. firms.

Planning Projects to Power Africa 

During the U.S.-Africa Business Forum, Vice President 

Biden highlighted USTDA’s long commitment to linking U.S. 

businesses to projects that foster sustainable economic 

growth in sub-Saharan Africa. As he noted, USTDA has 

funded over 100 projects since 2009 that are collectively 

expected to generate more than $1 billion in U.S. exports 

while building sustainable infrastructure across Africa.1

USTDA has become an integral partner in Power Africa, a 

U.S. government-led initiative to increase electricity access 

across the continent. The Agency’s strong presence in 

Africa’s energy market, as well as its ability to draw upon the 

expertise of U.S. industry and to catalyze private investment, 

has contributed to Power Africa’s early success.

USTDA is helping to mitigate one of the challenges 

faced by its Power Africa partners: the lack of sufficient 

funding for vital project preparation activities. According 

to the International Energy Administration, sub-Saharan 

Africa requires over $300 billion in investment in order 

to achieve universal electricity access by 2030. This 

means that, by some estimates, more than $30 billion 

in preparation work alone will be required to develop 

energy projects that can help Africans reach universal 

electricity access in less than two decades. USTDA is 

helping to address this challenge by funding feasibility 

studies and other planning activities that move projects 

Introducing U.S. Companies to African Leaders 

In advance of the first U.S.-Africa Leaders Summit, USTDA hosted reverse trade missions to 

Chicago, IL and Houston, TX for ministers from eight of Africa’s fastest-growing economies. 

The leaders discussed their plans to modernize and expand their transportation and 

energy infrastructure with U.S. industry representatives, state and local officials, 

and federal government experts. Working with its Making Global Local partners 

(see pg. 19) — the Illinois Chamber of Commerce, Greater Houston Partnership and 

Mayor’s Office of International Trade and Development in Houston—USTDA was able 

to ensure wide participation from the local business and diaspora communities. The 

visits provided U.S. companies the ability to highlight potential U.S. solutions to Africa’s 

infrastructure development challenges. For example, Duratel LLC, a small Illinois-based 

manufacturer of composite utility poles, established important connections with key African 

decision-makers. The company remains engaged with USTDA to explore ways that the Agency can 

aid its efforts to expand its business to sub-Saharan Africa and other emerging markets.

1 Vice President Biden’s Remarks at U.S.-Africa Business Forum, August 5, 2014, available at: 

http://www.c-span.org/video/?320868-5/usafrica-business-forum-vice-president-joe-biden-remarks.
6 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

USTDA launched the Global Procurement Initiative: Understanding Best Value

to educate public procurement officials in emerging markets about how to 

establish procurement practices and policies that integrate life‐cycle cost 

analysis and best-value determination in a fair, transparent manner. 
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 7

Taking Action on Climate Change 

President Obama’s Climate Action Plan details the U.S. 

government’s intent to lead international efforts in 

reducing greenhouse gas emissions and mitigating the 

effects of global climate change. The Plan highlights the 

growing need for energy that supports economic growth 

and fuels global markets, but also acknowledges that the 

international community will have to meet these demands 

in a climate-constrained world. In line with this Plan, the 

Administration has been working with its international 

partners on several multilateral and bilateral agreements, 

including an historic one with China that was announced 

during the Asia-Pacific Economic Cooperation (APEC) 

2014 Leaders’ Meeting in Beijing.

USTDA has partnered with China on over 50 environment 

and climate change projects since 2001. This year alone, 

USTDA initiated several new activities to introduce U.S. 

technologies that can help lower emissions and improve 

energy efficiency in China. For example, the Agency signed 

three grant agreements during a July 2014 meeting of the 

U.S.-China Climate Change Working Group, which aims 

to reduce greenhouse gas emissions from the world’s 

two largest polluters. These included activities focused 

on hydro fluorocarbons (HFCs) reduction — which was 

identified as a priority action item by Presidents Obama 

and Xi at their Sunnylands meeting in 2013 — as well as 

the deployment of energy efficiency technologies at data 

centers and the reduction of emissions at cement plants.

These are just a few activities from a single country. 

USTDA is sponsoring similar activities in emerging 

markets around the world. 

For example, the Agency is funding a new activity to analyze 

how advanced air traffic management technologies and 

practices can lower aviation emissions in Southeast Asia. 

Partnering with civil aviation authorities in Vietnam and the 

Philippines, this project will introduce U.S. technologies 

that can reduce fuel consumption and improve the 

efficiency of flight paths. The results of this project will 

be shared with all APEC member economies and could 

be expanded across the broader Asia-Pacific region. 

Leveling the Playing Field for 

U.S. Industry in Overseas Procurements

In response to the needs of its partners from U.S. industry 

and from emerging economies, USTDA launched the 

Global Procurement Initiative: Understanding Best Value 

(GPI) to educate public procurement officials in emerging 

markets about how to establish procurement practices 

and policies that integrate life-cycle cost analysis and 

best-value determination in a fair, transparent manner. 

Adopting these practices and standards will improve 

those governments’ capacity to make informed decisions 

that take into account all relevant costs of goods and 

services over their entire life-cycle. This will lead to 

smarter, longer-term investments with higher rates of 

return and overall savings to governments in developing 

and middle-income countries.

Moreover, the GPI will level the playing field for U.S. firms 

competing in international tenders. In a letter to President 

Obama in September 2013, the private sector members of 

the President’s Export Council (PEC) commended USTDA 

for its leadership in developing the GPI and encouraged 

the Administration to fully support its implementation.

In order to ensure the GPI’s success, USTDA has 

developed customized activities in partnership with 

globally-recognized public procurement advisors from 

George Washington University’s Government Procurement 

Law Program. The Agency is also collaborating with all 

of the major multilateral development banks in order 

to coordinate efforts to develop sound value-based 

procurement practices in emerging markets.

USTDA worked with all of its GPI collaborators to develop 

its first country partnership with the Republic of Botswana, 

which is focused on revising its procurement practices 

after experiencing significant acquisition challenges. The 

Agency designed a three-part program that is assisting 

public procurement officials from Botswana to incorporate 

value-based methodologies into tenders specifically 

targeting near-term energy and water procurements. 

USTDA is implementing a similarly structured program 

in order to help the Government of Vietnam enact its 

newly revised law focused on achieving greater value 

for money in public procurements.
8 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

Energy

Electrifying Growth
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 9

The continued drive to develop low-emissions energy 

creates opportunities in overseas markets for U.S. firms 

with cutting-edge renewable energy technologies. In 

2013, energy from renewables — primarily wind, solar 

and hydroelectric power — comprised more than half of 

total net additions to global electric generating capacity.3

While the renewable energy market is constantly changing, 

especially with continued consolidations in the solar and 

wind industries, it remains an important sector for the 

U.S. economy, supporting over 3 million jobs.4 At the 

same time, USTDA’s partner countries continue to offer 

good opportunities for exports of U.S. renewable energy 

technologies and services. 

Indeed, USTDA’s program provides opportunities to 

highlight innovative U.S.-sourced technologies that 

help overseas project sponsors achieve their goals of 

enhancing energy security and reducing greenhouse 

gas emissions. In FY 2014, USTDA supported a variety 

of renewable energy activities, including pilots of 

green technologies to power telecommunications 

infrastructure as well as solar photovoltaic and 

geothermal power projects. 

■ USTDA is funding a pilot project that will assess the 

feasibility of deploying solar hybrid methanol based fuel 

cell systems that provide continuous, uninterruptible 

power to the telecommunications towers of Idea 

Cellular Limited, a leading mobile service provider 

in India. The project, which is being carried out by 

ICF International (Fairfax, VA), aims to assist Idea 

Cellular’s effort to replace stationary diesel engines 

with cleaner, more affordable sources of energy.

■ Under the U.S.–Africa Clean Energy Finance Initiative 

(U.S.-ACEF) — which is an innovative financing 

mechanism that aligns the resources of USTDA, the 

U.S. Department of State and the Overseas Private 

Investment Corporation — USTDA and U.S. energy 

developer Hecate Energy (Nashville, TN) are sponsoring 

a feasibility study for the University of Dodoma in 

Tanzania. The project evaluates cost-effective solar 

photovoltaic solutions that can replace existing 

diesel generation and provide dedicated power 

to the University’s campus and the surrounding 

community. The project will offer economic benefits 

for the University, diversify Tanzania’s energy mix, 

lower fossil fuel consumption and reduce greenhouse 

gas emissions. 

■ USTDA awarded a grant to EPM, a multi-sector 

utility owned by the Municpality of Medellín, to 

evaluate the technical, economic and financial 

feasibility of constructing one or more geothermal 

power plants in Colombia’s Nereidas Valley. EPM has 

selected Dewhurst Group LLC (Germantown, MD) 

to provide the information necessary to perform 

resource confirmation drilling and make the required 

infrastructure upgrades to prepare for the procurement 

of a scalable electrical power plant. 

Energy remained at the core of USTDA’s global program in FY 2014. In support 

of the President’s Climate Action Plan, USTDA increased its focus on “cutting 

carbon pollution by changing the way [people] use energy — using less dirty 

energy, using more clean energy, wasting less energy.”2 USTDA continued to 

foster export-producing activities in its partner countries that are expanding 

the supply of renewable energy sources and promoting the use of cleaner, more 

efficient technologies in all energy subsectors. 

2 The President’s Climate Action Plan, June 2013, available at: http://www.whitehouse.gov/sites/default/files/image/president27sclimateactionplan.pdf. 

3 Renewable Energy Policy Network for the 21st Century, 2014 Global Status Report.

4 Bureau of Labor Statistics, Green Goods and Services, available at: http://www.bls.gov/ggs/#news. 
10 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

USTDA’s investments are promoting lower-carbon growth 

and increasing energy access by helping to improve 

electricity transmission and distribution around the world. 
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 11

to introduce innovative “smart grid” technologies and 

solutions in China, India, Nigeria and several other 

markets. Compared to traditional electricity generation 

investments, smart grid investments can be realized much 

quicker, and at a much lower cost, resulting in savings that 

put less demand on utilities for the supply of new power 

generation. Equally important, smart grid investments 

also provide a larger pathway for utilities to receive power 

from renewable energy sources. USTDA’s leadership in 

this subsector was recognized when its Director was 

named a 2013 Smart Grid Pioneer by Smart Grid Today, 

a leading trade publication that delivers comprehensive 

daily reporting on emerging trends, applications and 

policies driving the modern utility industry.5

Industry-leading U.S. smart grid solutions can improve 

the quality and supply of power for millions of customers. 

That is why USTDA is currently sponsoring electricity 

transmission and distribution projects in four of India’s 

seven largest cities, and will soon bring a delegation 

of Indian energy stakeholders to the United States to 

introduce them to U.S. smart grid technologies. These 

efforts will help India make progress toward Prime Minister 

Modi’s landmark call to build 100 “smart cities” across 

the country — plans that present enormous opportunities 

for U.S. companies. 

As USTDA’s partner countries develop their renewable 

energy capabilities, they are concurrently seeking a 

diversified portfolio of solutions to meet their growing 

energy demands. Several of USTDA’s partner countries 

have sought the Agency’s support for priority gasfired power (GFP) infrastructure development and 

modernization efforts. This demand is fueled by the 

increasing availability of gas, including U.S. exports of 

liquefied natural gas (LNG). As a result, USTDA’s partners 

are requesting the Agency’s assistance in developing 

critical LNG infrastructure. 

As developing cleaner energy resources is an area of U.S. 

industry expertise and competitiveness, the Agency is 

using its various tools to promote the use of advanced 

U.S. technologies and best practices related to GFP 

generation, unconventional gas and LNG receiving 

terminals. For example, USTDA is assisting a private 

developer in Indonesia in designing a LNG terminal that 

will supply industrial off-takers seeking a more efficient, 

affordable source of energy.

USTDA’s investments are also promoting lower-carbon 

growth and increasing energy access by helping to 

improve electricity transmission and distribution around 

the world. The Agency has formed strategic partnerships 

Powering Development in Jordan

Jordan’s 52.5 megawatt Shams Ma’an photovoltaic (PV) power plant 

will be the largest PV facility in the Middle East when it is completed in 

2016. U.S.-headquartered First Solar Inc. co-developed the planned 

facility with Jordan’s Kawar Group, which had previously partnered 

with USTDA to conduct a feasibility study into the viability of PV solar 

in the area. The facility, which will be engineered and constructed 

by First Solar, is an important component in Jordan’s strategic 

diversification of its generation portfolio, which is intended to boost 

energy security. Upon completion, the facility will use First Solar’s 

advanced thin film module technology to supply an estimated 

160 million kilowatt hours of electricity per year, which is equivalent to 

approximately one percent of Jordan’s annual energy output.

5 Smart Grid Today, “Smart Grid Pioneers 2013: Interviews with 50 trailblazers making smart grid a reality,” 

available at http://www.smartgridtoday.com/products/Smart-Grid-PIONEERS-2013.cfm.
12 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

Transportation

Facilitating Trade
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 13

USTDA’s investments in aviation, rail and intelligent 

transportation systems (ITS) infrastructure have helped 

increase U.S. exports while fostering economic growth 

in emerging economies. 

U.S. businesses have generated significant exports as a 

result of the Agency’s aviation investments, demonstrating 

the high value of advanced U.S. technologies and services, 

including aircraft, engines, communications and air 

traffic management systems. USTDA’s public-private 

partnerships provide a platform for aviation officials to 

address safety, infrastructure and efficiency priorities 

in four high-growth aviation markets: 

■ The U.S.-China Aviation Cooperation Program 

(ACP) enables over 40 industry and government 

partners to participate in policy development and 

commercial cooperation. 

■ The U.S.-India Aviation Cooperation Program (ACP) has 

helped to unify communication between the Government 

of India and U.S. public and private sectors. In fact, 

the Indian government requested expert assistance 

through the ACP to address regulatory requirements 

for re-attaining its Category 1 classification from the 

U.S. Federal Aviation Administration. 

■ The U.S.-Brazil Aviation Partnership (AP) completed 

a series of 8 workshops in FY 2014 to address diverse 

elements of Brazil’s rapid aviation growth. USTDA 

also helped arrange for the AP’s leadership to meet 

with the U.S. Secretary of Transportation during an 

Aerospace Trade Mission to Brazil in May 2014. During 

the Mission, the Secretary announced a transportation 

partnership modeled after the AP.

■ The U.S.-South Africa Aviation Training Program 

provides a forum in which its stakeholders can work 

together to develop the next generation of aviation 

leaders in South Africa. 

USTDA also supported activities in FY 2014 designed 

to open up new markets for U.S. aviation exporters. 

The Agency hosted the first U.S. government-funded, 

commercially-focused mission of public and private 

delegates from Myanmar to the United States. The 

reverse trade mission introduced delegates from 

Myanmar’s Department of Civil Aviation and commercial 

airlines to U.S. goods, services and technologies that 

could help them modernize the country’s civil aviation 

infrastructure. The delegates visited three U.S. cities to 

discuss their plans to build a new international airport 

and to expand their aircraft fleets with U.S. aviation 

experts. USTDA and the Export Finance Assistance 

Center of Washington, one of the Agency’s Making Global 

Local partners (see pg. 19), co-hosted a business 

roundtable in Seattle, WA to provide local companies with 

exclusive access to key decision-makers from this newly 

opened, rapidly growing and highly competitive market.

USTDA has long recognized that modern transportation infrastructure is essential 

to an economy’s ability to grow and compete in the global marketplace. Indeed, 

the transportation sector is an important engine for the U.S. economy, with 

U.S. transportation equipment exports growing 35 percent over the past three 

years. Given the strength of U.S. industry in key transportation technologies 

and services, combined with significant infrastructure opportunities in the 

Agency’s partner countries, the transportation sector was again a cornerstone 

of USTDA’s investment profile in FY 2014. 
14 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

Connectivity among transport modes — including the 

links between ports, airports, railways and highways — 

continues to be a priority in emerging markets. 
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 15

Connectivity among transport modes — including the 

links between ports, airports, railways and highways — 

also continues to be a priority in emerging markets. 

Accordingly, USTDA invested in several ITS projects 

that utilize electronic signaling, communications and 

information technologies to improve all aspects of 

surface transportation networks. One such project 

in Vietnam supports Ho Chi Minh City’s efforts to 

develop an integrated telecommunications control 

center for its growing 8-line urban rail system with U.S. 

technologies, services and expertise. Activities like this 

one are expected to open the door for U.S. ITS exports 

that can increase the efficiency and safety of existing 

transportation infrastructure by reducing congestion in 

metropolitan areas and enabling more rapid connectivity 

between major economic zones. 

As many developing and middle-income countries are 

making large investments in rail infrastructure, the 

subsector continues to present significant opportunities 

for U.S. transportation companies.

USTDA has sponsored a number of activities designed 

to connect U.S. companies, particularly those that 

manufacture locomotives, engines and train control 

systems, to these opportunities. In FY 2014, the Agency 

sponsored successful reverse trade missions to support rail 

projects in Latin America and Asia. USTDA also invested in 

activities that aim to improve the safety of rail operations, 

as well as projects to promote technologies that decrease 

air emissions and increase fuel efficiency. For example, 

the Agency provided two grants to catalyze investment in 

energy efficient locomotive technologies and to expand 

the fleet of specialty freight railcars in Mexico.

Helping Emerging Economies Achieve Category 1

USTDA supported the Philippines’ efforts to obtain Category 1, the highest aviation 

safety rating from the U.S. Federal Aviation Administration (FAA). USTDA sponsored 

a reverse trade mission for aviation leaders, including officials from the 

Civil Aviation Authority of the Philippines (CAAP), who participated in 

the FAA’s 2013 Asia-Pacific Flight Standards Meeting. This reverse 

trade mission, as well as USTDA’s continuing support of the CAAP, 

increased the Philippines’ knowledge of aviation safety and, as a 

result, the country attained Category 1 status in April 2014. This will 

help establish direct flights between the Philippines and the United 

States—supporting not only commerce, but also bilateral relations, 

between the two countries. 

The Agency had previously supported Azerbaijan’s efforts to achieve 

a Category 1 rating. USTDA provided technical assistance that reviewed 

the State Civil Aviation Administration’s operations and systems, 

and recommended improvements to safety regulations and processes. 

As a result, the FAA announced in March 2014 that Azerbaijan had achieved 

a Category 1 rating. To date, over $1 billion in U.S. exports has been attributed to 

this USTDA-sponsored activity. 
16 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

Telecommunications

Connecting the World
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 17

According to the World Economic Forum, the digital 

economy currently results in $2 trillion in annual sales, 

and this figure is growing. By 2020, an additional 1.5 billion 

people are expected to be connected to the internet. 

Importantly, two-thirds of these internet users will come 

from the developing world, as will 55 percent of mobile 

broadband users. 

In the data accumulation and processing subsector, 

demand is driven by the skyrocketing amount of global data 

usage, which is predicted to triple by 2017, and the growing 

need in emerging markets to house and process this data. 

In FY 2014, USTDA funded several data center activities 

to address those needs and to increase U.S. company 

engagement in the sector. For example, the Agency funded 

technical assistance to improve data hosting in Colombia. 

The project will draw upon U.S. experience to improve 

overall internet performance and reduce dependence on 

international bandwidth, ultimately stimulating growth in 

the sector and lowering prices for consumers. 

USTDA also responded to the increasing importance of 

ensuring the security of digital infrastructure around 

the world. In Romania, USTDA partnered with General 

Dynamics’ Fidelis Cybersecurity Solutions (Falls Church, 

VA) to support cybersecurity modernizations. The project 

will help Romania’s Computer Emergency Response 

Team determine the feasibility of a center to test and 

certify cybersecurity technologies and to match end 

users with cybersecurity solutions. Additionally, USTDA 

received strong interest from its Latin America and the 

Caribbean partners as they continue to strengthen their 

ICT infrastructure. In response, the Agency is hosting a 

series of reverse trade missions in FYs 2014 and 2015 

focused on U.S. cybersecurity and physical security 

technologies and best practices applicable to gas and 

electric utilities. These visits will include delegates from 

Brazil, Colombia, the Dominican Republic, Mexico and 

Peru. By cultivating business partnerships under these 

reverse trade missions, USTDA is helping to promote U.S. 

private sector technological solutions that can secure 

critical data against digital attacks. 

Telecommunications also plays an increasing role in 

USTDA’s other priority sectors, energy and transportation, 

as innovative technologies are creating e-solutions across 

a range of infrastructure projects. USTDA is supporting 

these advances by introducing U.S. technologies that 

can make investments more efficient for host countries. 

For example, the Agency supported a study to examine 

adopting satellite-based air traffic management systems 

in South Africa. These systems can help safely increase 

the volume of air traffic, reduce flight delays and permit 

airports to accommodate more aircraft. In addition, the 

systems would help reduce fuel usage in airplanes landing 

in South Africa, saving money and reducing emissions 

for the airlines. 

Investments in telecommunications infrastructure and information and 

communication technology (ICT) applications have seen tremendous growth 

in the last decade, especially in developing and middle-income markets. 

Promoting Emergency Preparedness in Latin America

In response to natural disasters in Chile and Haiti, USTDA sponsored a series of reverse trade missions 

that introduced delegates from across Latin America and the Caribbean to U.S. earthquake monitoring 

technologies. The delegates met with U.S. emergency management officials, academic experts 

and industry representatives in four U.S. cities. Following the visits, officials from Chile, Costa Rica, 

Dominican Republic, Mexico and Peru upgraded their earthquake monitoring technologies—with the 

aid of U.S. partners—which significantly improves the efficacy of post-disaster relief efforts. 
18 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

Making Global Local

Bringing Customers Closer
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 19

BUILDING STRATEGIC PARTNERSHIPS

As a growing number of U.S. companies are exploring 

sales opportunities abroad, USTDA is coordinating 

closely with state and local organizations to support 

these firms’ efforts to export. The Agency has formed 

strategic partnerships with over 35 export promotion 

organizations across the United States under its Making 

Global Local initiative.

Through this program, the Agency has gathered market 

intelligence on key industry clusters, state-of-the-art 

manufacturers and innovative service providers — the 

majority of which are small and medium-sized enterprises 

(SMEs)—from its strong network of partner organizations. 

Making Global Local has also enabled USTDA and its partners 

to effectively cooperate on Governor- and Mayor-led trade 

missions, industry-focused roundtables and USTDA-hosted 

reverse trade missions. In fact, during FY 2014, more than 

ninety percent of USTDA’s reverse trade missions visited 

cities and towns where the Agency has Making Global 

Local partners, providing ample opportunities for USTDA 

and its partners to collaborate closely.

When the Mayor’s Office of International Trade and 

Development in Houston, a Making Global Local partner, 

organized a trade mission to Johannesburg for Texasbased companies, USTDA played a pivotal role in arranging 

and participating in meetings between the delegation led 

by Mayor Annise Parker and key South African officials.

USTDA and its Making Global Local partners will continue 

to find innovative ways to engage companies across the 

country in the Agency’s programs.

SUPPORTING SMALL BUSINESSES

From showcasing the unique technologies and specialized 

services that U.S. companies offer through Agencysponsored reverse trade missions, to funding activities 

that connect technical experts with foreign project 

sponsors during the critical early stages of a project’s 

definition, USTDA positions small- and medium-sized 

U.S. businesses to succeed in the global marketplace.

USTDA continues to rely on small businesses to provide 

technical guidance and recommendations that inform the 

Agency’s funding decisions. USTDA draws extensively on 

the expertise of small- and medium-sized consulting and 

engineering firms to provide independent technical and 

financial analysis during the development of the Agency’s 

projects. In FY 2014, over 60% of the Agency’s contract 

actions were awarded to small businesses.

Furthermore, as a member of the President’s Export 

Cabinet, USTDA has strengthened its partnership with the 

Small Business Administration (SBA) in order to increase 

the participation of small businesses in USTDA-sponsored 

events—thereby increasing their access to foreign buyers. 

Working with SBA’s regional and district offices, USTDA has 

expanded its outreach to the small business community 

in a targeted effort to increase their exports to emerging 

economies. USTDA also collaborates closely with the 

Department of Commerce’s U.S. Export Assistance Centers 

(USEACs), which are located throughout the United States, 

to organize reverse trade missions and other outreach 

events to local business communities.

USTDA looks forward to continuing its strong support 

for U.S. small and medium-sized businesses.

USTDA’S PARTNER ORGANIZATIONS

■ California Chamber 

of Commerce

■ Colorado Office of 

Economic Development 

and International Trade 

■ County of Riverside — 

Office of Foreign Trade

■ Denver Sister Cities 

International 

■ Duquesne University 

Small Business 

Development Center 

■ Erie County Industrial 

Development Agency 

(New York) 

■ Export Finance 

Assistance Center 

of Washington 

■ Florida Export Finance 

Corporation

■ Greater Houston 

Partnership

■ Illinois Chamber 

of Commerce

■ Invest Atlanta

■ Kansas Global 

Trade Services 

■ Los Angeles County 

Economic Development 

Corporation 

■ Los Angeles Regional 

Export Council 

■ Maryland Small Business 

Development Center

■ Massachusetts Office 

of International Trade 

and Investment

■ Mayor’s Office of 

International Trade 

and Development 

(Houston, TX)

■ Minnesota Trade Office

■ Mississippi Development 

Authority International 

Trade Office 

■ Missouri International 

Trade and 

Investment Office 

■ North Dakota Trade Office

■ Ohio Development 

Services Agency

■ Pennsylvania Department 

of Community and 

Economic Development, 

Office of International 

Business Development

■ Pennsylvania 

Small Business 

Development Centers 

■ Port of Virginia

■ State of New Jersey 

Business Action Center

■ Tampa Bay International 

Business Council 

■ Utah Governor’s Office of 

Economic Development

■ Vermont Economic 

Development Authority 

■ Virginia Small Business 

Development Center 

■ World Trade 

Center Atlanta 

■ World Trade Center of 

Greater Philadelphia 

■ World Trade Center 

of New Orleans

■ World Trade Center 

of San Diego 

■ World Trade Center 

Savannah

■ World Trade Center 

St. Louis
20 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

USTDA Tools

Finding Pathways to Success
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 21

REVERSE TRADE MISSIONS

Making Connections

USTDA’s specially tailored reverse trade missions provide 

unique opportunities to foster business relationships 

between U.S. companies and overseas project sponsors. 

The reverse trade missions bring foreign delegates to 

the United States to introduce them to the design, 

manufacture and operation of U.S. goods and services 

that can help them achieve their development goals. 

In FY 2014, USTDA’s reverse trade mission program 

offered more than 820 businesses the opportunity to 

meet with foreign decision-makers during 26 events in 

51 U.S. cities. 

CONFERENCES AND WORKSHOPS

Identifying Opportunities, 

Showcasing Technologies

USTDA hosts conferences and workshops that bring 

together government and industry leaders to discuss 

specific business opportunities in key sectors and 

markets. These events, which are held in the United States 

and overseas, help U.S. companies build partnerships 

and identify export opportunities by providing them with 

vital knowledge on specific programs and activities. 

In FY 2014, events like the U.S.-Colombia Smart Grid 

Workshop and the U.S.-India Aviation Summit allow U.S. 

companies to showcase their technologies and services, 

as well as to meet with potential customers. 

FEASIBILITY STUDIES 

AND PILOT PROJECTS

Getting It Right from the Start

USTDA-funded and U.S.-led feasibility studies link foreign 

project sponsors with U.S. businesses at the critical early 

stage when technology options and project requirements 

are defined. These studies provide the comprehensive 

analysis required for major infrastructure investments 

to achieve financing and implementation.

In some cases, export opportunities depend on a 

demonstration of the U.S. seller’s goods, services or 

technologies in the foreign buyer’s setting. Agency-funded 

pilot projects demonstrate the effectiveness of U.S. 

solutions and provide the analysis, evaluation and 

empirical data needed for potential foreign projects 

to secure funding. Pilot projects have proven to be an 

excellent tool for showcasing U.S. capabilities.

TECHNICAL ASSISTANCE

Creating a Favorable Business 

and Trade Environment

USTDA funds technical assistance that supports legal 

and regulatory reform, the establishment of industry 

standards and other capacity-building activities. These 

technical assistance programs, which often bridge gaps in 

the project development life cycle and shepherd projects 

through to financing, help facilitate favorable business 

and trade environments for U.S. goods and services.

“In my experience, USTDA is one of the most successful 

trade development and facilitation programs in the U.S. 

They think long term; they’re pragmatic; they get results.”

— Karyn Page, President/CEO, Kansas Global Trade Services
22 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

Evaluations

USING DATA TO DELIVER RESULTS
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 23

QUANTIFYING RESULTS

In the Agency’s history of linking U.S. businesses to export 

opportunities, USTDA has generated over $41 billion 

in U.S. exports and, consistent with its Congressional 

mandate, has emerged as the leading U.S. government 

agency for project planning and development activities 

in emerging economies. USTDA’s evaluations process 

gathers feedback from over 2,000 stakeholders 

each year. The Agency utilizes that information to 

continually improve program performance and develop 

new projects.

In FY 2014, USTDA oversaw the evaluation of over 

600 activities, identifying key project challenges 

as well as successes — in the form of $5.8 billion in 

new exports for over 2,000 contracts between U.S. 

companies and project sponsors around the globe. 

These new exports supported an estimated 32,000 

jobs across the United States, while helping to build 

key infrastructure to stimulate economic growth in the 

Agency’s partner countries. 

In addition to illustrating what USTDA’s activities have 

achieved for U.S. companies and for foreign partners, this 

data allows the Agency to calculate its export multiplier. 

During the most recent ten-year evaluation period, 

every $1 dollar of USTDA program funding generated 

over $76 in U.S. exports. This return on investment 

demonstrates the Agency’s ability to meet the needs 

of the U.S. business community and its host country 

partners by employing the most effective tools to promote 

infrastructure development. 

IMPROVING PERFORMANCE

USTDA continuously monitors, tracks and analyzes the 

results of its activities to determine their effectiveness 

and responsiveness to U.S. industry goals, U.S. 

government priorities and emerging market needs. 

USTDA extensively reviews its past performance by 

country and sector, examines its export successes and 

considers the developmental impacts of its program. 

Using this information, the Agency is able to determine 

how successful it has been in allocating its resources.

In addition to analyzing the overall effectiveness of 

USTDA’s past and current programs, the Agency also 

examines U.S. export growth and general market trends in 

its key industry sectors. The Agency realizes it is important 

not only to study the sectors where it has been successful 

in the past, but also to know where the market is going in 

order to plan for future opportunities. USTDA’s staff has 

developed expertise in key industries to help understand 

global demand and identify the sectors that represent 

the greatest opportunity for growth in U.S. exports. 

USTDA also employs this data to assess the potential for 

export sales when making each of its funding decisions. 

This rigorous, comprehensive approach to evidence-based 

decision-making enables USTDA to prioritize projects for 

which the Agency’s data suggests the strongest potential 

for success. By remaining responsive to the needs of its 

U.S. private sector partners, USTDA opens new markets 

for U.S. industry — increasing opportunities for exports 

and consequently creating jobs at home — while also 

supporting sustainable economic development abroad. 

Leading the Way in Robust Evaluations

USTDA was recognized for its efforts to improve program performance by developing methods to 

integrate stakeholder feedback and build internal decision-making capacity. The American Evaluation 

Association, an international association with nearly 8,000 members representing all 50 U.S. states and 

60 foreign countries, selected a proposal from USTDA’s Office of Evaluations among 2,000 submissions 

to present at its annual conference in early FY 2015. Using examples from the Agency’s work in electricity 

transmission and distribution, USTDA staff illustrated the Agency’s efforts to enhance the use of 

evidence and effectively communicate results to stakeholders in the smart grid sector.
24 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

Internet — www.ustda.gov

USTDA’s website provides comprehensive 

information on its program, current business 

opportunities, upcoming events, completed reports, 

Agency news, and recent publications.

Requests for Proposals (RFP)

USTDA posts RFP announcements about current 

business opportunities with the Agency and its 

overseas grant recipients on the Federal Business 

Opportunities (FBO) website at www.fbo.gov. Links 

to the FBO postings are available on USTDA’s 

website at www.ustda.gov. RFP packages may be 

requested electronically via USTDA’s website. 

On-Line Consultant Database

Many USTDA activities are reserved exclusively for 

small businesses. Small U.S. businesses interested 

in being considered for contracting opportunities 

with USTDA can register with the Agency’s On-line 

Consultant Database on the Agency’s website. 

Businesses should also register with the U.S. 

Government’s System for Award Management (SAM) 

website at www.sam.gov.

Library

USTDA’s library maintains final reports of 

Agency-funded activities and can provide electronic 

copies of those reports upon request by e-mailing 

library@ustda.gov. Furthermore, USTDA posts new 

reports directly on its website, www.ustda.gov. 

Publications

The Agency distributes a biweekly eNewsletter, 

Trade Posts, to provide information about USTDA’s 

activities and events. Visit USTDA’s website to 

sign up to receive Trade Posts. Requests for copies 

of printed publications can also be made via 

the Agency’s website.

Questions about USTDA

General inquiries about USTDA’s program can be 

made by calling (703) 875-4357, faxing (703) 875-

4009, e-mailing info@ustda.gov, or completing the 

Contact Form on the Agency’s website.

To contact USTDA’s program staff, send an e-mail to: 

• East Asia:

East_Asia@ustda.gov

• Latin America and the Caribbean:

LAC@ustda.gov

• Middle East, North Africa, Europe and Eurasia:

MENA_EE@ustda.gov

• South and Southeast Asia:

South_Southeast_Asia@ustda.gov

• Sub-Saharan Africa:

Africa@ustda.gov 

• Office of Global Programs:

Global@ustda.gov

• Office of Evaluations:

Evaluations@ustda.gov

USTDA Executives and Department Heads

To contact a USTDA Staff member, please call our main office 

line at 703-875-4357. 

Director. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Leocadia I. Zak 

Deputy Director (Acting). . . . . . . . . . . . . . . . . . . . . . Enoh T. Ebong 

General Counsel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enoh T. Ebong 

Chief of Staff. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Clark Jennings

Director, Public Affairs and 

Congressional Relations. . . . . . . . . . . . . . . . . . . . . Thomas R. Hardy

Director for Export Promotion. . . . . . . . . . . . . . . . . Leila Aridi Afas

Director for Global Programs. . . . . . . . . . . . . . . . . . Andrea Lupo

Regional Director, East Asia (Acting). . . . . . . . . . . . Carl B. Kress

Regional Director, 

Latin America and the Caribbean. . . . . . . . . . . . Nathan Younge

Regional Director, Middle East, 

North Africa, Europe and Eurasia. . . . . . . . . . . . Carl B. Kress

Regional Director, 

South and South East Asia. . . . . . . . . . . . . . . . . . Henry Steingass 

Regional Director, 

Sub-Saharan Africa (Acting). . . . . . . . . . . . . . . . . Lida M. Fitts

Program Evaluations Director,

Office of Evaluations. . . . . . . . . . . . . . . . . . . . . . . . Diana Harbison

Grants Administrator,

Office of Grants Administration . . . . . . . . . . . . . Pat Daughetee

Director of Finance (Acting). . . . . . . . . . . . . . . . . . . Mickey Bivins

Chief, Office of Acquisition Management . . . . . . . Garth Hibbert

Administrative Officer

Office of Administration. . . . . . . . . . . . . . . . . . . . . Carolyn Hum

Chief Information Officer. . . . . . . . . . . . . . . . . . . . . Thomas R. Hardy

CLIENT RESOURCES
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 25

SUMMARY OF FY 2014 PROGRAM ACTIVITIES

USTDA ACTIVITIES

BY VALUE OF OBLIGATIONS

2012 2013 2014

DM/Desk Studies $2,076,927 4.8% $2,183,364 5.3% $1,994,747 4.1% 

Feasibility Studies $14,141,409 32.2% $16,182,817 39.1% $21,272,321 43.6%

Reverse Trade Mission $10,542,425 24.0% $5,770,693 13.9% $9,695,315 19.9%

Technical Assistance $12,854,646 29.3% $14,069,603 34.0% $12,254,025 25.1%

Trade-Related Training $781,834 1.8% $1,479,714 3.6% $500,000 1.0%

Workshop/Conferences $3,176,034 7.2% $1,709,113 4.1% $1,680,324 3.4%

Other $349,651 0.7% $25,306 0% $1,399,009 2.9%

Total $43,922,926 100% $41,420,610 100% $48,795,741 100%

USTDA ACTIVITIES BY ECONOMIC SECTOR

BY VALUE OF OBLIGATIONS

2012 2013 2014

Agribusiness $0 0% $269,463 0.6% $1,060,109 2.2%

Clean Energy/Energy Efficiency $16,335,973 37.2% $17,610,249 42.5% $23,872,806 48.9%

Health/HR $1,135,744 2.6% $409,362 1.0% $1,661,105 3.4%

Mining & Natural Resources $91,453 0.2% $1,810,693 4.4% $85,933 0.1%

Multi-Sector & Other $675,224 1.5% $1,187,251 2.9% $1,032,234 2.1%

Services $2,298,610 5.2% $2,701,217 6.5% $3,178,276 6.5%

Telecommunications $3,282,419 7.5% $3,893,748 9.4% $3,573,677 7.3%

Transportation $17,373,332 39.6% $12,164,251 29.4% $12,840,822 26.4%

Water & Environment $2,730,171 6.2% $1,374,376 3.3% $1,490,779 3.1%

Total $43,922,926 100% $41,420,610 100% $48,795,741 100%

FY 2014 PROGRAM ACTIVITIES LISTED BY REGION

EAST ASIA

China Agricultural Biotechnology Training Program Desk Study World Agricultural Economic & Environmental Services LLC Lorton WA $27,800

China Helicopter Flight Skill and Maintenance Training Desk Study Montgomery Consulting Group, Inc. Winter Park FL $1,140

China USTDA Site Visits Other US Foreign and Commercial Services (USFCS) Washington DC $5,300

China Air Quality Management Reverse Trade Mission Koeppen, Elliott & Associates, Ltd. (KEA) Washington DC $278,067

China Air Quality Management Program Technical Assistance US Environmental Protection Agency Washington DC $96,624

China Senior Healthcare Leadership Training Program Reverse Trade Mission The Meridian International Center Washington DC $365,405

China East Asia Regional Office, China Technical Assistance Department of State Washington DC $32,984

China HFC Emissions Reduction Pilot and Feasibility Study Desk Study Alejandro J. Gonzalez dba AJGB International Inc. Bellevue WA $8,000

China Shale Gas Technologies Reverse Trade Mission Experient Inc. Twinsburg OH $279,978

China U.S.-China Aviation Cooperation Program Desk Study Montgomery Consulting Group, Inc. Winter Park FL $18,000

China Calcium Carbide Off-Gas Conversion Facility Desk Study 3E Consulting LLC Columbia MD $8,000

China Ports Communications Pilot and Feasibility Study Desk Study TERA International Group, Inc. (TERA) Sterling VA $8,000

China Green Data Center Feasibility Study SGH Holdings, LLC Sterling VA $800,000

China Flight Delay Management Technical Assistance American Chamber of Commerce in China Fund Wilmington DE $1,022,404

China General Aviation and Business Aviation Development Project Technical Assistance American Chamber of Commerce in China Fund Wilmington DE $1,053,030

China U.S.-China Aviation Cooperation Program Technical Assistance American Chamber of Commerce in China Fund Wilmington DE $530,250

China Aviation Cooperation Program Technical Assistance Federal Aviation Administration (FAA) Washington DC $127,958

China Anti-Monopoly Law Technical Assistance Site Visits $88,730

China Xian Flight Delay Management Desk Study Montgomery Consulting Group, Inc. Winter Park FL $8,000

China Freight Rail Operations Reverse Trade Mission TERA International Group, Inc. (TERA) Sterling VA $214,873

China HFC Emissions Reduction Technical Assistance Selection in progress $298,705

China Cement Production De-NOx Technologies Feasibility Study LP Amina, LLC Charlotte NC $354,363

China Low NOx Boiler Emission Reduction Desk Study The Innovation Network LLC Lexington MA $9,550

China Healthcare Executive Leadership Training Program Reverse Trade Mission Meridian International Center Washington DC $417,929

China Cold Chain Reverse Trade Mission The Peoples Group Arlington VA $291,605

China Environmental Technologies Reverse Trade Mission Global Marketing and Communications Arlington MA $231,968

China Intelligent Transportation System Desk Study TERA International Group, Inc. (TERA) Sterling VA $8,000

China China E-Learning Aviation Training Partnership Desk Study Montgomery Consulting Group, Inc. Winter Park FL $7,500

China 14th U.S.-China Oil and Gas Industry Forum Other Citibank Purchase Card $2,100

China USFCS Specialist Technical Assistance US Foreign and Commercial Services (USFCS) Washington DC $165,936

Total for East Asia: $6,762,200

COUNTRY TITLE ACTIVITY U.S. FIRM CITY STATE FUNDS OBLIGATED
26 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

COUNTRY TITLE ACTIVITY U.S. FIRM CITY STATE FUNDS OBLIGATED

LATIN AMERICA AND CARIBBEAN

Brazil Brazil Strategic Airport Capacity Improvement Project Desk Study Ronald F. Price dba QED Airport & Aviation Consultants Amelia Island FL $2,500

Brazil Cargo and Passenger Rail Series Reverse Trade Mission Koeppen, Elliott & Associates, Ltd. (KEA) Washington DC $426,205

Brazil Clean Energy Exchange Program Reverse Trade Mission Advanced Engineering Associates International, Inc. Cambridge MA $436,956

Brazil Unconventional Gas Reverse Trade Mission The Meridian International Center Washington DC $212,000

Brazil ICT Sector Opportunities Definitional Mission Judith Hellerstein dba Hellerstein and Associates Washington DC $64,980

Brazil Transportation Sector Opportunities Definitional Mission Hernan E. Pena dba HEP Transportation Consulting Charleston SC $65,000

Brazil Quality of Airport Service Reverse Trade Mission American Association of Airport Executives (AAAE) Alexandria VA $137,698

Brazil Water and Wastewater Utility Energy Efficiency Opportunities Definitional Mission Leo Larochelle dba Performance Technology Lewiston MA $72,105

Brazil State of Goias Data Center Design and Implementation Plan Feasibility Study The Innovest Group, LLC McLean VA $539,990

Brazil Energy Sector Project Opportunities Definitional Mission Enercon America Inc. Chicago IL $74,862

Brazil Amazonas State Data Center Design Feasibility Study Selection in progress $578,995

Brazil Cloud Computing and Big Data Technologies Reverse Trade Mission Business Council for International Understanding (BCIU) New York NY $241,275

Brazil Urban Traffic Management Technologies Definitional Mission Hernan E. Pena dba HEP Transportation Consulting Charleston SC $41,935

Brazil USFCS Specialist Technical Assistance US Foreign and Commercial Services (USFCS) Washington DC $224,498

Colombia Information and Communication Technology Sector Definitional Mission Selection in progress $15,324

Colombia 20 MW Hybrid Solar and Wind Park Feasibility Study Desk Study Laurence William Philip $12,490

Colombia Power Market Management System Reverse Trade Mission The Webster Group, Inc. Washington DC $219,755

Colombia Valle de Cauca Demand Side Management Pilot Project Desk Study Emerging Markets Infrastructure, LLC Herndon VA $9,000

Colombia Valle de Cauca Demand Side Management Pilot Project Feasibility Study Innovari, Inc. Austin TX $850,000

Colombia Nereidas Valley Geothermal Power Plant Desk Study Brixpo, LLC Washington DC $6,600

Colombia Nereidas Valley Geothermal Power Plant Feasibility Study Dewhurst Group, LLC Germantown MD $871,382

Colombia Greater Data Center Hosting Technical Assistance Selection in progress $408,965

Dominican Republic Digital Spectrum Management Reverse Trade Mission Koeppen, Elliott & Associates, Ltd. (KEA) Washington DC $259,926

Mexico Power Sector Environmental Remediation Projects Desk Study Enercon America Inc. Chicago IL $7,500

Mexico ConnectMex Conference Technical Symposium Business Council for International Understanding (BCIU) New York NY $300,956

Mexico State of Jalisco ITS Projects Definitional Mission KED Group, LLC Columbia SC $44,932

Mexico Potable Water Filtration Project Feasibility Study The Water Initiative, LLC Norwalk CT $343,952

Mexico Specialty Freight Railcars Technical Assistance Worley Parsons Group, Inc. Jacksonville FL $559,041

Mexico Energy Efficient Locomotive Technologies Technical Assistance Selection in progress $590,358

Panama Demand Side Management Pilot Project Desk Study Northeast Group, LLC Washington DC $10,000

Panama El Valle Geothermal Power Project Desk Study Brixpo, LLC Washington DC $10,000

Panama Aviation Sector Definitional Mission KED Group, LLC Columbia SC $45,290

Panama Airport and Air Traffic Management Technologies Reverse Trade Mission American Association of Airport Executives (AAAE) Alexandria VA $224,074

Regional Flight Safety Standards Reverse Trade Mission Koeppen, Elliott & Associates, Ltd. (KEA) Washington DC $157,845

Regional Renewable Energy Grid Integration Reverse Trade Mission Experient, Inc. Arlington VA $247,300

Regional Latin America and Caribbean Airport Resiliency Technical Symposium American Association of Airport Executives (AAAE) Alexandria VA $328,485

Regional Smart Grid and Renewable Energy Sector Definitional Mission Castalia LLC Washington DC $89,999

Regional Aviation Sector Definitional Mission Montgomery Consulting Group, Inc. Winter Park FL $75,000

Regional Cybersecurity and Access Control for Utilities Reverse Trade Mission Koeppen, Elliott & Associates, Ltd. (KEA) Washington DC $813,545

Regional Central American Multimodal Transportation Corridor Desk Study TERA International Group, Inc. (TERA) Sterling VA $12,000

Regional Green Port Technologies Reverse Trade Mission Meridian International Center Washington DC $720,870

Total for Latin America and Caribbean: $10,353,588

MIDDLE EAST, NORTH AFRICA, EUROPE & EURASIA

Algeria Natural Gas Combined Cycle Power Plant Training Selection in progress $500,000

Egypt Summit Technology Solutions Data Center Feasibility Study Global Resources, Inc. Irvine CA $52,571

Egypt Hama Holding Agribusiness Expansion Plan Desk Study SPI USA, Inc. Washington DC $9,800

Egypt Citrus Process and Production Facility Feasibility Study Selection in progress $503,000

Gaza and West Bank Regional Wastewater Treatment Plant Desk Study AJGB International Incorporated Bellevue WA $5,000

Gaza and West Bank Bethlehem Biomass and Waste-to-Energy Project Desk Study Walter R. Niessen dba Niessen Consultants Andover MA $9,980

Georgia Coal Bed Methane/Coal Mine Methane Project Desk Study Raven Ridge Resources Incorporated Grand Junction CO $8,982

Jordan Vessel Traffic System and Integrated Port Community Service System Desk Study Leonard Sugin New York NY $8,000

Jordan Electronic Health Records Desk Study Network Dynamics Associates, LLC Weston CT $8,000

Kazakhstan Batys Transit Power Supply Project Feasibility Study Selection in progress $744,450

Kazakhstan Information Technology Integration and Development Technical Assistance Selection in progress $437,000

Morocco Solar Photovoltaic Reverse Trade Mission The Webster Group, Inc. Washington DC $262,162

Morocco Hydrocarbon Storage, Blending and Distribution Facility Desk Study The Innovation Network LLC Lexington MA $16,300

Regional USTDA Site Visit Technical Assistance Scott Greenip $3,495

Regional USTDA Site Visit Technical Assistance Scott Greenip $3,673
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 27

COUNTRY TITLE ACTIVITY U.S. FIRM CITY STATE FUNDS OBLIGATED

Romania Cybersecurity Innovation Center Desk Study Delta Risk, LLC San Antonio TX $7,600

Romania Cybersecurity Innovation Center Feasibility Study General Dynamics Fidelis Cybersecurity Solutions, Inc. Waltham MA $400,175

Romania Information Communications Technologies Definitional Mission Global Resources, Inc. Irvine CA $58,772

Romania Telemedicine Solutions for Urban Areas Desk Study SPI USA, Inc. Washington DC $10,600

Romania Smart Grid Desk Study Actionable Perspectives, LLC Stamford CT $6,000

Romania Transmission and Distribution Definitional Mission Constant Group, LLC Maywood NJ $46,000

Romania Oil and Gas Definitional Mission Skipping Stone, LLC Atlanta GA $85,950

Turkey Electricity Transmission and Distribution Definitional Mission Enercon America Inc. Chicago IL $55,000

Turkey 17 MW Seyhan Hydrokinetic Power Project Feasibility Study Verdant Power, Inc. New York NY $669,875

Turkey U.S.-Turkey Geothermal Workshop Technical Symposium The Webster Group, Inc. Washington DC $229,434

Turkey Geothermal Energy Project Desk Study Maevelle Energy, LLC Las Vegas NV $6,500

Turkey Information and Communication Technology Sector Definitional Mission ICD Corporation Williamstown MA $110,859

Turkey Advanced Smart Grid Applications for Power Distribution Feasibility Study Selection in progress $510,000

Turkmenistan Gas-Fired Power Reverse Trade Mission Experient Arlington VA $221,973

Total for Middle East, North Africa, Europe & Eurasia: $4,991,151

SOUTH AND SOUTHEAST ASIA

Burma Power Projects Definitional Mission 3E Consulting LLC Columbia MD $95,796

Burma Energy Sector Modernization Reverse Trade Mission Meridian International Center Washington DC $294,760

India Integrated Emergency Communications System Desk Study Marty Morrell New York NY $5,950

India Clean Energy for Telecom Towers Pilot Feasibility Study ICF Incorporated, LLC Fairfax VA $699,991

India GETCO Renewable Power Integration Project Technical Assistance Selection in progress $568,688

India Refining Sector Projects Definitional Mission Intratech, Inc. McLean VA $69,633

India Energy Sector Definitional Mission Douglas M Shuster dba Emerging Markets Infrastructure, LLC Herndon VA $77,000

India Sahaj e-Village Project Desk Study Marty Morrell New York NY $9,800

India Smart Grid Reverse Trade Mission The Webster Group, Inc. Washington DC $320,664

India Aviation Safety Technical Assistance The Wicks Group, LLC Washington DC $1,543,445

India Distributed Energy Resource Deployment Feasibility Study Energy and Environmental Economics, Inc. (E3) San Francisco CA $459,283

India Aviation Security Equipment Testing and Evaluation Program Technical Assistance Selection in progress $658,000

India Aviation Sector Definitional Mission Ronald F. Price dba QED Amelia Island FL $77,981

India USFCS Specialist Technical Assistance US Foreign and Commercial Services (USFCS) Washington DC $131,128

Indonesia Liquified Natural Gas Terminal Feasibility Study Selection in progress $341,092

Pakistan 5-10 MW Waste-to-Energy Plant Desk Study Cambridge Project Development, Inc. Miami FL $3,000

Pakistan Water Recycling Plant Pilot Project Desk Study Leo R. Larochelle P.E. dba Performance Technology Lewiston ME $9,000

Pakistan Gas Turbine Combined Cycle Power Plant Desk Study Enercon America Inc. Chicago IL $12,000

Pakistan Gas Turbine Combined Cycle Power Plant Feasibility Study Selection in progress $1,026,000

Pakistan Biogas-Based Power Generation Definitional Mission The Innovation Network LLC Lexington MA $129,979

Pakistan USTDA Site Visit Technical Assistance Jacob Flewelling $5,607

Pakistan USTDA Site Visit Technical Assistance Jacob Flewelling $6,300

Philippines MERALCO Power Distribution Modernization Pilot Project Feasibility Study Selection in progress $442,940

Philippines Central Bank of the Philippines IT Modernization Desk Study Network Dynamics Associates, LLC Weston CT $7,000

Philippines Security Vulnerability Assessments for Airports Technical Assistance ESTA International, LLC Herndon VA $529,850

Philippines Smart Grid Implementation Roadmap and Pilot Project Feasibility Study Selection in progress $599,886

Regional Regional Business Development Manager, PSC Other Joe Moholland Moving Hampton VA $1,182

Regional Regional Business Development Manager, PSC Other Mark Dunn Baltimore MD $186,500

Regional Regional Office, Thailand Technical Assistance Department of State Washington DC $125,528

Regional Regional Business Development Manager, PSC Other Mark Dunn Baltimore MD $186,600

Vietnam USTDA Site Visit Other US Foreign and Commercial Services (USFCS) Washington DC $6,352

Vietnam Wind Power and Renewable Energy Development Definitional Mission Douglas M Shuster dba Emerging Markets Infrastructure, LLC Herndon VA $88,508

Vietnam Ho Chi Minh City Connected Rail ICT Master Plan Desk Study Hernan E. Pena dba HEP Transportation Consulting Charleston SC $8,000

Vietnam Airport Operations and Development Reverse Trade Mission The Webster Group, Inc. Washington DC $259,648

Vietnam Smart Grid Development and Implementation Reverse Trade Mission Energy Markets Group Washington DC $253,357

Vietnam Vietnam Environmental Sanitation and Wastewater Treatment Roundtable Technical Symposium Jacobsen/Daniels Associates, LLC Ypsilanti MI $17,463

Vietnam Smart Grid Automated Demand Response Feasibility Study Selection in progress $759,315

Vietnam Integrated Telecommunications Control Center – Ho Chi Minh City Metro Feasibility Study Selection in progress $900,000

Total for South and Southeast Asia: $10,960,514
28 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

COUNTRY TITLE ACTIVITY U.S. FIRM CITY STATE FUNDS OBLIGATED

SUB-SAHARAN AFRICA

Malawi Power Sector Reverse Trade Mission Core International, Inc. Chevy Chase MD $331,683

Malawi U.S.-ACEF Hydropower Projects Desk Study Core International, Inc. Chevy Chase MD $10,000

Nigeria Shared Disaster Recovery Services Desk Study Marty Morrell New York NY $4,950

Nigeria Royal Power Gas Fired IPP Desk Study Green Powered Technology, LLC Falls Church VA $5,000

Nigeria Royal Power Gas-Fired IPP Feasibility Study Novi Energy Novi MI $667,000

Nigeria Gas-Based Industrial Complex Feasibility Study Nexant, Inc. White Plains NY $257,000

Nigeria Rivers State Government ID Card System Desk Study Network Dynamics Associates, LLC Weston CT $6,000

Nigeria ABIBA Solar IPP Desk Study Constant Group, LLC Maywood NJ $5,500

Nigeria Healthcare Infrastructure Project Desk Study OMMA Healthcare, LLC Rollinsville CO $6,000

Nigeria Flower Gate Gas-Fired Power Plant Feasibility Study Selection in progress $455,000

Nigeria USFCS Specialist Technical Assistance US Foreign and Commercial Services (USFCS) Washington DC $220,000

Nigeria Bauchi State Solar Desk Study Constant Group, LLC Maywood NJ $6,500

Nigeria Benin Electricity Distribution Modernization Technical Assistance Selection in progress $630,000

Nigeria Hospital Modernization Study Feasibility Study Selection in progress $853,171

Nigeria Eko and Ikeja Distribution Modernization Feasibility Study Delphos International Washington DC $1,327,432

Nigeria USFCS Specialist Technical Assistance US Foreign and Commercial Services (USFCS) Washington DC $220,037

Regional Regional Business Development Manager: PSC Other Joe Moholland Moving Hampton VA $1,839

Regional Regional Business Development Manager: PSC Technical Assistance Jason Nagy Dulles VA $190,000

Regional Light Aircraft and Helicopter Reverse Trade Mission Futron Corporation Bethesda MD $229,183

Regional COMESA-EAC-SADC Tripartite Airspace Surveillance Desk Study Montgomery Consulting Group, Inc. Winter Park FL $7,800

Regional Satellite-Based ADS-B Feasibility Study Selection in progress $587,250

Regional Agribusiness Reverse Trade Mission The Peoples Group Arlington VA $227,904

Regional Africa Energy Forum Technical Symposium Citibank Purchase Card $5,758

Regional African Leaders’ Visit: Energy Reverse Trade Mission The Webster Group, Inc. Washington DC $558,721

Regional African Leaders’ Visit: Transportation Reverse Trade Mission Business Council for International Understanding (BCIU) New York NY $532,984

Regional African Leaders’ Visits Services Other Green Powered Technology, LLC Falls Church VA $94,640

Regional Regional Office, South Africa Technical Assistance Department of State Washington DC $283,500

Rwanda U.S.-ACEF Amahoro Energy Small Hydro Projects Desk Study C.J. Aron Associates, Inc. (dba GreenMax) Brooklyn NY $5,000

Rwanda U.S.-ACEF Amahoro Energy Small Hydro Projects Feasibility Study Knight Piesold & Co. Lisle IL $675,000

South Africa U.S.-ACEF Solafrica 100 MW CSP Plant Feasibility Study Selection in progress $800,000

South Africa Ample Solar Concentrated Solar Plant Projects Feasibility Study Areva Solar Inc. Santa Clara CA $1,050,208

South Africa Meerkat 18 Megawatt Small Hydropower Project Feasibility Study Selection in progress $681,000

South Africa U.S.-ACEF Fuel Cell Applications for Telecommunications Tower Feasibility Study Selection in progress $872,000

Tanzania NextGen Solawazi Owner’s Engineer Project Technical Assistance Selection in progress $200,000

Tanzania U.S.-ACEF University of Dodoma 55 Megawatt Photovoltaic Solar Project Feasibility Study Hecate Energy LLC Nashville TN $600,000

Tanzania Pan-African Air Cargo Services Desk Study Montgomery Consulting Group, Inc. Winter Park FL $7,000

Zambia CEC PV Solar Power Plant Desk Study Core International, Inc. Chevy Chase MD $7,500

Total for Sub-Saharan Africa: $12,622,560

GLOBAL PROGRAMS

Botswana GPI: Procurement Assistance Program Technical Assistance Selection in progress $497,420

Botswana GPI: Training and Orientation Visit Technical Symposium Business Council for International Understanding (BCIU) New York NY $310,247

Regional Research and Analysis Program Other Ascendant Program Services, LLC Silver Spring MD $914,496

Regional USTDA Travel Insurance Reverse Trade Mission USI Insurance Services, LLC Columbus OH $25,000

Regional Power Transmission, Distribution and Smart Grid Applications Desk Study Enercon America Inc. Chicago IL $113,000

Regional IDIQ Contract Energy Sector Technical Assistance $150,000

Regional GPI: Transportation Procurement Specialist Technical Assistance Jacobsen/Daniels Associates, LLC Ypsilanti MI $323,335

Regional GPI: Energy Procurement Specialist Technical Assistance Green Powered Technology, LLC Falls Church VA $283,549

Regional GPI: Site Visit Technical Assistance Daniel Gordon Washington DC $700

Vietnam GPI: Procurement Assistance Program for Vietnam Technical Symposium Business Council for International Understanding (BCIU) New York NY $487,982

Total for Worldwide: $3,105,729

GRAND TOTAL: $48,795,741
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 29

Independent Auditors’ Report 

The Director

U.S. Trade and Development Agency:

Report on the Financial Statements

We have audited the accompanying financial statements of the U. S. Trade and Development Agency (“USTDA”), which 

comprise the balance sheets as of September 30, 2014 and 2013, and the related statements of net cost, changes in net 

position, and budgetary resources for the years then ended, and the related notes to the financial statements (hereinafter 

referred to as “financial statements”).

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with U.S. 

generally accepted accounting principles; this includes the design, implementation, and maintenance of internal control 

relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether 

due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in 

accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial 

audits contained in Government Auditing Standards issued by the Comptroller General of the United States; and Office of 

Management and Budget (“OMB”) Bulletin No. 14-02, Audit Requirements for Federal Financial Statements. Those standards 

and OMB Bulletin No. 14- 02 require that we plan and perform the audit to obtain reasonable assurance about whether the 

financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. 

The procedures selected depend on the auditors’ judgment, including the assessment of the risk of material misstatement 

of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal 

control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures 

that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of USTDA’s 

internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting 

policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the 

overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion on the Financial Statements

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the 

United States Trade and Development Agency as of September 30, 2014 and 2013, and its net costs, changes in net position, 

and budgetary resources for the years then ended in accordance with U.S. generally accepted accounting principles.

KMPG LLP

Suite 12000

1801 K Street, NW

Washington, DC 20006
30 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

Other Matters

Required Supplementary Information

U.S. generally accepted accounting principles require that the information in the Management’s Discussion and Analysis 

section be presented to supplement the basic financial statements. Such information, although not a part of the basic 

financial statements, is required by the Federal Accounting Standards Advisory Board who considers it to be an essential 

part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical 

context. We have applied certain limited procedures to the required supplementary information in accordance with auditing 

standards generally accepted in the United States of America, which consisted of inquiries of management about the methods 

of preparing the information and comparing the information for consistency with management’s responses to our inquiries, 

the basic financial statements, and other knowledge we obtained during our audits of the basic financial statements. We do 

not express an opinion or provide any assurance on the information because the limited procedures do not provide us with 

sufficient evidence to express an opinion or provide any assurance.

Other Information

Our audits were conducted for the purpose of forming an opinion on the basic financial statements as a whole. The Director’s 

Message, Performance, and Other Information sections of the USTDA Performance and Accountability Report are presented 

for purposes of additional analysis and are not a required part of the basic financial statements. Such information has not 

been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not 

express an opinion or provide any assurance on it.

Other Reporting Required by Government Auditing Standards

Internal Control Over Financial Reporting

In planning and performing our audit of the financial statements, we considered USTDA’s internal control over financial 

reporting (internal control) as of and for the year ended September 30, 2014, to determine the audit procedures that are 

appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose 

of expressing an opinion on the effectiveness of USTDA’s internal control. Accordingly, we do not express an opinion on the 

effectiveness of USTDA’s internal control. We did not test all internal controls relevant to operating objectives as broadly 

defined by the Federal Managers’ Financial Integrity Act of 1982.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, 

in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely 

basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable 

possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, 

on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe 

than a material weakness, yet important enough to merit attention by those charged with governance. 

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not 

designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given 

these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material 

weaknesses. However, material weaknesses may exist that have not been identified.
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 31

Compliance and Other Matters

As part of obtaining reasonable assurance about whether USTDA’s financial statements are free from material misstatement, we 

performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance 

with which could have a direct and material effect on the determination of financial statement amounts, and certain provisions 

of other laws and regulations specified in OMB Bulletin No. 14-02. However, providing an opinion on compliance with those 

provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests of 

compliance disclosed no instances of noncompliance or other matters that are required to be reported herein under Government 

Auditing Standards or OMB Bulletin No. 14-02.

We also performed tests of USTDA’s compliance with certain provisions referred to in Section 803(a) of the Federal Financial 

Management Improvement Act of 1996 (“FFMIA”). Providing an opinion on compliance with FFMIA was not an objective of our 

audit, and accordingly, we do not express such an opinion. The results of our tests of FFMIA disclosed no instances in which 

USTDA’s financial management systems did not substantially comply with the (1) Federal financial management systems 

requirements, (2) applicable Federal accounting standards, and (3) the United States Government Standard General Ledger 

at the transaction level.

Purpose of the Other Reporting Required by Government Auditing Standards

The purpose of the communication described in the Other Reporting Required by Government Auditing Standards section is 

solely to describe the scope of our testing of internal control and compliance and the result of that testing, and not to provide 

an opinion on the effectiveness of USTDA’s internal control or compliance. Accordingly, this communication is not suitable 

for any other purpose.

November 12, 2014 
32 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

ASSETS 2014 2013

Intragovernmental:

Fund balance with Treasury (Note 2) $ 99,015,920 $ 97,489,880

 Total intragovernmental 99,015,920 97,489,880

Accounts receivable, net (Note 3) — 3,176

General property and equipment, net (Note 4) 506,350 563,313

 Total assets $ 99,522,270 $ 98,056,369

LIABILITIES AND NET POSITION

Liabilities

Intragovernmental:

 Accounts payable (Note 5) $ 410,576 $ 767,727

 Other liabilities (Notes 2 and 5) 11,262 39,812

 Total intragovernmental 421,838 807,539

Accounts payable (Note 5) 7,012,516 5,803,284

Other liabilities (Note 5) 718,029 641,909

 Total liabilities 8,152,383 7,252,732

Net position:

Unexpended appropriations 91,416,951 90,706,792

Cumulative results of operations (47,064) 96,845

 Total net position 91,369,887 90,803,637

 Total liabilities and net position $ 99,522,270 $ 98,056,369

The accompanying notes are an integral part of these statements. 

U.S. Trade and Development Agency 

Balance Sheets 

As of September 30, 2014 and 2013
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 33

U.S. Trade and Development Agency 

Statements of Net Cost 

For the Years Ended September 30, 2014 and 2013 

2014 2013

Cost of Operations:

Grants program costs $ 54,392,906 $ 51,986,382

Less earned revenue (120,000) —

 Net cost of operations (Notes 6 and 11) $ 54,272,906 $ 51,986,382

U.S. Trade and Development Agency 

Statements of Changes in Net Position 

For the Years Ended September 30, 2014 and 2013

2014 2013

Cumulative results of operations:

Beginning balances $ 96,845 $ 14,872

Budgetary financing sources

 Appropriations used 53,741,858 51,714,320

Other financing sources:

 Imputed financing 387,139 354,035

 Total financing sources 54,128,997 52,068,355

Net cost of operations (54,272,906) (51,986,382)

Net change (143,909) 81,973

 Total cumulative results of operations $ (47,064) $ 96,845

Unexpended appropriations:

Beginning balances $ 90,706,792 $ 98,368,749

Budgetary financing sources:

 Appropriations received 55,073,000 50,000,000

 Appropriations transferred in 502,753 1,511,000

 Other adjustments (rescissions and 

cancellation of expired funds) (1,123,736) (7,458,637) 

 Appropriations used (53,741,858) (51,714,320)

 Total budgetary financing sources 710,159 (7,661,957)

 Total unexpended appropriations 91,416,951 90,706,792

 Net position $ 91,369,887 $ 90,803,637

The accompanying notes are an integral part of these statements. 
34 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

U.S. Trade and Development Agency 

Statements of Budgetary Resources 

For Years Ended September 30, 2014 and 2013 

2014 2013

Budgetary resources:

Unobligated balance, brought forward, October 1 $ 9,134,717 $ 11,333,089

Recoveries of prior year unpaid obligations 4,970,494 9,759,565

Other changes in unobligated balance (620,983) (3,416,337)

Unobligated balance from prior year budget authority, net 13,484,228 17,676,317

Appropriations (discretionary and mandatory) 55,073,000 47,468,700

Spending authority from offsetting collections (discretionary and mandatory) 4,878,208 —

Total budgetary resources $ 73,435,436 $ 65,145,017

Status of budgetary resources:

Obligations incurred (Note 7) $ 62,870,154 $ 56,010,300

Unobligated balance, end of year:

 Apportioned (Notes 2, 8 and 10) 7,717,314 4,671,544

 Exempt from apportionment

 Unapportioned (Note 2) 2,847,968 4,463,173

Total unobligated balance, end of year 10,565,282 9,134,717

Total budgetary resources $ 73,435,436 $ 65,145,017

Change in obligated balance:

Unpaid obligations, brought forward, October 1 (gross) $ 88,319,454 $ 94,258,891

Obligations incurred 62,870,154 56,010,300

Outlays (gross) (53,010,268) (52,190,172)

Recoveries of prior year unpaid obligations (4,970,494) (9,759,565)

Obligated balance, end of year 

 Unpaid obligations, end of year (gross) 93,208,846 88,319,454

Obligated balance, end of year (net) (Note 9) 93,208,846 88,319,454

Uncollected payments: 

 Change in uncollected customer payments from Federal sources (4,758,208) —

 Uncollected customer payments from Federal sources, end of year (4,758,208) —

 Obligated balance, end of the period (net) (Note 9) $ 88,450,638 $ 88,319,454

Budget Authority and Outlays, Net

Budget authority, gross (discretionary and mandatory) $ 59,951,208 $ 47,468,700

Actual offsetting collections (discretionary and mandatory) (120,000) —

Change in uncollected customer payments from Federal sources (4,758,208) —

Budget authority, net (discretionary and mandatory) $ 55,073,000 $ 47,468,700

Outlays, gross (discretionary and mandatory) 53,010,268 52,190,172

Actual offsetting collections (discretionary and mandatory) (120,000) —

Outlays, net (discretionary and mandatory) 52,890,268 52,190,172

Agency outlays, net (discretionary and mandatory) $ 52,890,268 $ 52,190,172

The accompanying notes are an integral part of these statements. 
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 35

(1) Summary of Significant Accounting Policies

(a) Description of Reporting Entity

USTDA is an independent U.S. government agency administered under the authority of Section 661 of the Foreign 

Assistance Act of 1961, as amended (22 U.S.C. §2421). The Agency is not subject to Federal, state or local income 

tax, therefore no provision for income taxes has been recorded in the accompanying financial statements.

USTDA helps U.S. companies create jobs through export of U.S. goods and services for priority development projects 

in emerging economies. USTDA links U.S. businesses to export opportunities by funding project planning activities, 

pilot projects, and RTMs while creating sustainable infrastructure and economic growth in partner countries.

The organization was established on July 1, 1981 as the Trade and Development Program (TDP) by delegation 

of authority as a component of the International Development Cooperation Agency (IDCA). In 1988, under the 

Omnibus Trade and Competitiveness Act, the organization was designated a separate component agency of IDCA. 

On October 28, 1992, Congress enacted the Jobs through Exports Act of 1992, which renamed TDP as the Trade 

and Development Agency and established USTDA as an independent executive branch agency under the foreign 

policy guidance of the Secretary of State.

(b) Basis of Presentation

These financial statements have been prepared to report the financial position, net costs, changes in net position, and 

budgetary resources of USTDA, as required by its authorizing legislation Public Law 113-76. These financial statements 

include all activity related to USTDA’s appropriation (No. 11-1001) and reimbursable interagency agreements, whereby 

USTDA receives transfers from other Federal agencies for use in specific regions or sectors.

(c) Budgets and Budgetary Accounting

Congress annually adopts a budget appropriation that provides USTDA with authority to use funds from the U.S. 

Treasury to meet operating and program expense requirements. All revenue received from other sources, except 

for appropriations transferred from other Federal agencies, must be returned to the U.S. Treasury.

(d) Basis of Accounting

USTDA’s Balance Sheet, Statement of Net Cost, and Statement of Changes in Net Position are prepared using the 

accrual basis of accounting. This basis requires recognition of the financial effects of transactions, events, and 

circumstances in the periods when those transactions, events, and circumstances occur, regardless of when cash 

is received or paid. USTDA also uses budgetary accounting to facilitate compliance with legal constraints and to 

track its budget authority at the various stages of execution, including commitments, obligation, and eventual outlay. 

The Statement of Budgetary Resources is prepared using budgetary accounting methods.

The standards used in the preparation of the accompanying financial statements are issued by the Federal Accounting 

Standards Advisory Board, which represent accounting principles generally accepted in the United States of America 

for U.S. government entities.

(e) Appropriations and Other Financing Sources

Appropriations are recognized as a financing source at the time they are authorized and apportioned. Appropriations 

used to fund grant activities and administrative expenses are recognized as expenses and revenue as the resultant 

related expenses are incurred.

During FY 2013 and FY 2014, USTDA received an appropriation to be used for program and administrative expenses, 

which are available for obligation through September 30, 2014 and 2015, respectively. These funds were appropriated 

in accordance with Title VI of the Department of State Foreign Operations, and Related Programs Appropriations Act, 

2014 (the Act). Beginning with FY 2008 appropriations, USTDA’s appropriation acts allow de-obligated funds that 

were initially obligated prior to their expiration to remain available for re-obligation for an additional 4 years from 

the date on which the availability of such funds would otherwise have expired. In FY 2014, USTDA re-apportioned 

U.S. Trade and Development Agency

Notes to Financial Statements

September 30, 2014 and 2013
36 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

approximately $.26 million of FY 2009 de-obligations, approximately $.25 million of FY 2010 de-obligations, and 

$3.1 million of FY 2011 de-obligations.

During FY 2014, Department of State provided $5 million in spending authority for the US-Africa Clean Energy 

Finance Initiative through a reimbursable interagency agreement. At September 30, 2014, $4.7 million had been 

obligated and $120,000 paid and invoiced to Department of State.

Funds transferred from USAID for Support for East European Democracy Act (SEED), Economic Support Funds (ESF), 

the Freedom Support Act (FSA) and Assistance to Europe, Eurasia, Central America (AAECA) during FY 2002–2012, 

are available for re-obligation in the manner described in the preceding paragraph. SEED, ESF, and FSA funds for 

FY 1999–2001 that were initially obligated prior to their expiration remain available for re-obligation until cancellation. 

In FY 2014, USTDA re-apportioned approximately $.02 million of FY 2010 transfer authority de-obligations and 

$1.1 million of FY 2011 transfer authority de-obligations.

(f) Fund Balance with Treasury

USTDA does not maintain cash in commercial bank accounts. The U.S. Treasury processes cash receipts and 

disbursements. The balance of funds with Treasury primarily represents appropriated funds that are available to 

pay current liabilities and finance authorized purchase commitments relative to goods or services.

(g) Property and Equipment

Property and equipment is stated at cost, less accumulated depreciation. USTDA capitalizes property and equipment 

with an acquisition cost greater than $5,000 and useful life exceeding one year. Depreciation is calculated using the 

straight-line method and is based on an estimated useful life of 10 years for all assets, except computer equipment 

and software, which is depreciated over 5 years. Leasehold improvements are amortized over the estimated period 

of occupancy or the life of the improvement, whichever is less. Expenditures for repairs and maintenance are charged 

to operating expenses as incurred.

(h) Liabilities

Liabilities represent amounts owed by USTDA as the result of transactions or events that have occurred as of fiscal 

year end. Liabilities covered by budgetary or other resources are those liabilities for which Congress has appropriated 

funds or funding is otherwise available to pay amounts owed. Liabilities not covered by budgetary or other resources 

represent amounts owed in excess of available, congressionally appropriated funds or other amounts. The liquidation 

of liabilities not covered by budgetary or other resources is dependent on future congressional appropriations or 

other funding. There is no certainty that Congress will appropriate funds to satisfy such liabilities.

USTDA has no capital leases. Regarding its building lease, the General Services Administration (GSA) entered into 

a lease agreement for USTDA’s rental of building space. USTDA pays GSA a standard-level users’ charge for the 

annual rental. The standard-level users’ charge approximates the commercial rental rates for similar properties. 

Average annual rent expense and related charges are approximately $1.6 million through 2014.

(i) Undelivered Orders

Undelivered orders represent the amount of orders for goods and services outstanding for which funds have been 

obligated, but the liabilities have not been incurred.

(j) Accrued Leave

Annual leave is accrued as a liability as it is earned. The liability is reduced as leave is taken. Each year, the balance 

in the accrued annual leave account is adjusted to reflect current year pay rates. To the extent that the current 

or prior year appropriations are not available to fund annual leave earned, but not taken, funding will be obtained 

from future appropriations. USTDA’s handling of annual leave earned, but not taken is compliant with established 

regulations. Sick leave and other types of non-vested leave are charged to expense as the leave is used.

U.S. Trade and Development Agency

Notes to Financial Statements

September 30, 2014 and 2013
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 37

(k) Cumulative Results of Operations

Cumulative results of operations represent the difference between net property and equipment and unfunded 

annual leave, plus the net difference between expenses and financing sources since the inception of an activity.

(l) Retirement Plan

USTDA’s employees participate in either the Civil Service Retirement System (CSRS) or the Federal Employees’ 

Retirement System (FERS). Employees participating in CSRS contribute 7.0 percent of their gross pay to the plan, 

and USTDA contributes 8.51 percent. The cost of providing a CSRS benefit, which is 32.8 percent as computed by 

the Office of Personnel Management (OPM), is more than the amounts contributed by USTDA and its employees. 

In accordance with Statement of Federal Financial Accounting Standard (SFFAS) No. 5, Accounting for Liabilities of the 

Federal Government, USTDA reports the full cost of providing pension benefits to include the cost financed by OPM.

On January 1, 1987, FERS went into effect pursuant to Public Law 99-335. Most employees hired after December 31, 

1983 are automatically covered by FERS and the Social Security Act. Employees hired prior to January 1, 1984 could 

elect either to join FERS and the Social Security Act or remain in CSRS. A primary feature of FERS is that it offers 

a savings plan in which USTDA automatically contributes 1 percent of employees’ pay and matches any employee 

contribution up to an additional 4 percent of basic pay. For most employees hired since December 31, 1983, USTDA 

also contributes the employer’s matching share under the Social Security Act. For the FERS basic benefit, the 

employees contribute 0.8 percent of their basic pay while USTDA contributes 11.2 percent for a total contribution 

rate of 12 percent. The cost of providing a FERS benefit, as computed by OPM is 15.1 percent.

The total amount of imputed financing for retirement and other post-retirement benefits paid by OPM for FY 2014 

amounted to $387,139 which includes $153,524 for pension cost for CSRS and FERS; $232,568 for the Federal 

Employees Health Benefits (FEHB) Program; and $1,047 for Federal Employees Group Life Insurance (FEGLI). In 

FY 2013, OPM funded $354,035 to pension, health, and life insurance benefits on behalf of USTDA’s employees. 

These amounts are included in USTDA’s FY 2014 and FY 2013 financial statements, respectively.

The actuarial present value of accumulated benefits, assets available for benefits, and unfunded pension liability of 

CSRS and FERS is not allocated to individual departments and agencies and is therefore not disclosed by USTDA. 

The reporting of these amounts is the responsibility of OPM. USTDA has properly computed this amount and 

recorded a liability for it.

USTDA paid approximately $592,645 and $553,963 for retirement system coverage for its employees during FY 

2014 and FY 2013, respectively.

(m) Use of Estimates

Management has made certain estimates and assumptions when reporting in these financial statements on assets 

and liabilities. They are also used in expenses and note disclosures. Actual results could differ from these estimates. 

Significant estimates underlying the accompanying financial statements include depreciable lives of property and 

equipment with no residual value, and the grants payable accrual. USTDA used a ratio of the average of accounts 

payable to unpaid obligations over a five year period and applied the resulting percentage to calculate the current 

year’s estimate of accounts payable.

U.S. Trade and Development Agency

Notes to Financial Statements

September 30, 2014 and 2013
38 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

U.S. Trade and Development Agency

Notes to Financial Statements

September 30, 2014 and 2013

(2) Fund Balance with Treasury

Fund Balance with Treasury represents USTDA’s undisbursed budgetary authority and funds to be returned to Treasury at 

September 30, 2014 and 2013, as follows:

2014 2013

Fund balances:

Appropriated funds $ 99,015,920 $ 97,454,171

Miscellaneous receipts — 35,709

 Total $ 99,015,920 $ 97,489,880

Status of fund balance with Treasury:

Unobligated balance:

 Available $ 7,717,314 $ 4,671,544

 Unavailable 2,847,968 4,463,173

Obligated balance not yet disbursed 88,450,638 88,319,454

Non-budgetary — 35,709

 Total $ 99,015,920 $ 97,489,880

Unobligated fund balances are either available or not available. Amounts are reported as not available when they are no 

longer legally available to USTDA for obligation. However, balances that are currently reported as not available can change 

over time, because they may be used to increase the amount of the initial obligation to cover additional expenditures that 

relate to these obligations.

(3) Accounts Receivables

Accounts receivable at September 30, 2014 and 2013 consist of the following components:

2014 2013

Accounts receivable $ — $ 3,176 

FY 2013 accounts receivable represents employee salary compensation to be returned to USTDA; no allowance was 

necessary as the amount was fully collectable.
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 39

(4) Property and Equipment, Net

General property and equipment and related accumulated depreciation balances at September 30, 2014 and 2013 are as 

follows:

September 30, 2014

Class of Asset Service Life

Acquisition

value

Accumulated 

depreciation/ 

amortization

Net 

book value

Computer Equipment 5 years $ 537,619 $ 346,347 $ 191,272

Furniture and Fixtures 10 years 313,773 175,061 138,712

Computer Software 5 years 15,382 8,643 6,739

Other Equipment 10 years 308,333 138,706 169,627

Leasehold Improvements* 5 years 113,182 113,182 —

Total property and equipment $ 1,288,289 $ 781,939 $ 506,350

September 30, 2013

Class of Asset Service Life

Acquisition

value

Accumulated 

depreciation/ 

amortization

Net 

book value

Computer Equipment 5 years $ 688,638 $ 440,609 $ 248,029

Furniture and Fixtures 10 years 284,179 156,966 127,213

Computer Software 5 years 15,382 5,567 9,815

Other Equipment 10 years 296,094 117,838 178,256

Leasehold Improvements* 5 years 113,182 113,182 —

Total property and equipment $ 1,397,475 $ 834,162 $ 563,313

Depreciation expense for fiscal years ended September 30, 2014 and 2013 is $136,605 and $141,823, respectively.

During FY 2014 and 2013, USTDA purchased property and equipment in the amount of $81,157 and $267,284, 

respectively. In addition, during FY 2014 USTDA retired $190,342 in property and equipment with related accumulated 

depreciation amounting to $188,828 representing a loss on disposals of $1,514. During FY2013, USTDA retired $87,284 

in property and equipment with related accumulated depreciation amounting to $69,878, representing a loss on 

disposals of $17,406.

*Leasehold improvements are amortized over the useful life of the improvement or the term of the lease, whichever is shorter.

U.S. Trade and Development Agency

Notes to Financial Statements

September 30, 2014 and 2013
40 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

U.S. Trade and Development Agency

Notes to Financial Statements

September 30, 2014 and 2013

(5) Liabilities

Total liabilities represent the sum of liabilities not covered by budgetary resources, and those covered by budgetary 

resources. As of September 30, 2014 and 2013, total liabilities were as follows:

2014 2013

Intragovernmental Liabilities:

Liabilities not covered by budgetary resources:

 Miscellaneous receipts to be returned to Treasury $ — $ 35,709

 Worker’s Compensation 11,262 4,103

Liabilities covered by budgetary resources:

 Accounts payable 410,576 767,727

 Total intragovernmental liabilities $ 421,838 $ 807,539

Other Liabilities:

Liabilities not covered by budgetary resources:

 Accrued annual leave $ 468,790 $ 465,541

 FECA actuarial liability 73,363 —

Liabilities covered by budgetary resources:

 Accounts payable 7,012,516 5,803,284

 Accrued payroll 175,876 176,368

 Total other liabilities $ 7,730,545 $ 6,445,193

 Total liabilities $ 8,152,383 $ 7,252,732

All liabilities other than FECA actuarial liability and the unfunded accrued leave are considered to be current liabilities. 

Approximately $6 million of the accounts payable balance as of September 30, 2014 relates to grants payments owed but 

unpaid. This balance was also $6 million as of September 30, 2013.

(6) Intragovernmental Costs and Exchange Revenue

Program costs for the fiscal years ended September 30, 2014 and 2013 consists of the following:

Grants Program 2014 2013

Intragovernmental costs $ 2,384,032 $ 2,881,398

Public costs 52,008,874 49,104,984

 Total grant program costs 54,392,906 51,986,382

Intragovernmental earned revenue (120,000) —

 Net grant program costs $ 54,272,906 $ 51,986,382
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 41

U.S. Trade and Development Agency

Notes to Financial Statements

September 30, 2014 and 2013

(7) Apportionment Categories of Obligations Incurred

During the years ended September 30, 2014 and 2013, funds were obligated in the following categories:

2014 2013

Category A — funds that are obligated for operating expenses $ 14,043,322 $ 13,764,322

Category B — funds that are obligated for program activities 48,826,832 42,245,978

 Total obligations incurred $ 62,870,154 $ 56,010,300

(8) Unobligated Balances Available — Apportioned

Total available unobligated balance of budget authority at September 30, 2014 and 2013 consist of the following:

2014 2013

Unrestricted no-year funds $ 325,959 $ 325,959

Funds transferred from USAID for feasibility studies and 

related activities in the New Independent States (NIS), 

and Support for East European Democracy (SEED) 46,667 54,564

Funds transferred from USAID for feasibility studies and 

related activities in the NIS (Freedom Support Act (FSA) 

no-year funds) — 89,773

 Total no-year funds $ 372,626 $ 470,296

Funds transferred from USAID and reapportioned for 

feasibility studies and related activities in Pakistan (ESF) 

and regional Eurasia (AEECA) 1,202,723 1,323,370

USTDA core budget two-year appropriations 6,141,965 2,877,878

 Total unobligated and available appropriations $ 7,717,314 $ 4,671,544

(9) Undelivered Orders

At September 30, 2014 and 2013, undelivered orders balances consisted of the following:

2014 2013

Obligated balance at the end of the period $ 88,450,638 $ 88,319,454

Liabilities covered by budgetary resources (7,598,968) (6,747,379)

 Undelivered orders $ $80,851,670 $ 81,572,075
42 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

U.S. Trade and Development Agency

Notes to Financial Statements

September 30, 2014 and 2013

(10) Permanent Indefinite Appropriations

No-year funds at September 30, 2014 and 2013 exist for the following purposes: 

2014 2013

General program activities $ 325,959 $ 325,959

FSA transfer funds for feasibility studies 

and activities in the NIS — 89,773

Support for feasibility studies and activities (NIS and SEED) 46,667 54,564

 Total permanent indefinite appropriations $ 372,626 $ 470,296

(11) Reconciliation of Net Cost to Budget

The following schedule reconciles resources available to USTDA to finance operations and the net cost of operating for 

fiscal years ended September 30, 2014 and 2013:

2014 2013

Resources used to finance activities:

Budgetary resources obligated $ 62,870,154 $ 56,010,300

Recoveries of prior years obligations (4,970,494) (9,759,565)

 Transfer of spending authority from offsetting 

collections and obligations (4,878,208) —

Imputed financing for costs absorbed by others 387,139 354,035

 Total resources used to finance activities $ 53,408,591 $ 46,604,770

Resources used to finance items not part 

of the net cost of operations:

Change in budgetary resources obligated for goods 

and services ordered, but not received $ (4,037,802) $ 5,463,583

 Resources that finance the acquisition of assets (81,157) (267,284)

 Change in uncollected customer payments 

from Federal sources 4,758,208 —

Loss on disposition of assets 1,514 17,406

Total resources used to finance items 

not part of the net cost of operations $ 640,763 $ 5,213,705

Costs that do not require resources:

Depreciation and amortization $ 136,605 $ 141,823

(Increase)/decrease in accounts receivable 3,176 (3,045)

Costs that require resources in a future period:

(Decrease)/increase in accrued leave liability 3,249 25,026

 (Decrease)/increase in accrued 

worker’s compensation liability 7,159 4,103

 Change in FECA actuarial liability 73,363 —

 Total costs that do not require resources $ 223,552 $ 167,907

 Net cost of operations $ 54,272,906 $ 51,986,382
U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014 43

U.S. Trade and Development Agency 

Other Information 

As of and for the Year Ended September 30, 2014

INTRAGOVERNMENTAL ASSETS

As of September 30, 2014

Trading Partner Partner # Accounts Receivable

Fund Balance 

with Treasury

Department of the Treasury 20 $ — $ 99,015,920

Total $ — $ 99,015,920

INTRAGOVERNMENTAL LIABILITIES

As of September 30, 2014

Trading Partner Partner # 

Accounts 

Payable

Fund to be Returned 

to Treasury

Department of Labor 16 11,262 —

Department of State 19 206,273 —

Department of Treasury 20 — —

General Services Administration 47 10,000 —

National Archives 88 97 —

Office of Personnel Management 24 1,151 —

U.S. Foreign Commercial Services 13 189,100 —

Department of Homeland Security 70 3,955 —

Total $ 421,838 $ —

INTRAGOVERNMENTAL EXPENSES 

For the Year Ended September 30, 2014

Trading Partner Partner # Amount

Department of Agriculture 12 $ 3,115

Foreign Service Institute 21 7,055

Department of Health and Human Services 75 102,506

Department of Homeland Security 70 21,755

Department of Interior (IBC) 14 634,645

Department of State 19 439,934

General Services Administration 47 1,089,384

Government Printing Office 04 21,582

National Archives 88 1,471

Office of Personnel Management 24 962

U.S. Foreign Commercial Services 13 62,929

U.S. Postal Service 18 (1,306)

Total $ 2,384,032
44 U.S. TRADE AND DEVELOPMENT AGENCY ANNUAL REPORT 2014

Summary of the Financial Statement Audit and Management’s Assurances

TABLE 1: SUMMARY OF FINANCIAL STATEMENT AUDIT:

Audit Opinion Unmodified

Restatement No

Material Weaknesses

Beginning 

Balance New Resolved Consolidated

Ending 

Balance

0 0 0 0 0

Total Material Weaknesses 0 0 0 0 0

TABLE 2: SUMMARY OF MANAGEMENT ASSURANCES:

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

Statement of Assurance Unqualified

Material Weaknesses

Beginning 

Balance New Resolved Consolidated Reassessed

Ending 

Balance

0 0 0 0 0 0

Total Material Weaknesses 0 0 0 0 0 0

Effectiveness of Internal Control over Operations (FMFIA § 2)

Statement of Assurance Unqualified

Material Weaknesses

Beginning 

Balance New Resolved Consolidated Reassessed

Ending 

Balance

0 0 0 0 0 0

Total Material Weaknesses 0 0 0 0 0 0

Conformance with Financial Management Systems Requirements (FMFIA § 4)

Statement of Assurance Systems conform to financial management system requirements

Non-Conformances

Beginning 

Balance New Resolved Consolidated Reassessed

Ending 

Balance

0 0 0 0 0 0

Total Non-Conformances 0 0 0 0 0 0

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

Agency Auditor

1. System Requirements No noncompliance noted No noncompliance noted

2. Account Standards No noncompliance noted No noncompliance noted

3. USSGL at Transaction Level No noncompliance noted No noncompliance noted

U.S. Trade and Development Agency 

Other Information 

As of and for the Year Ended September 30, 2014
USTDA 2014 ANNUAL REPORT PHOTOGRAPHY

Photographs for the 2014 Annual Report were 

taken by the following USTDA staff members:

Heather Connell

Ziyang Fan

Diana Harbison

Garth Hibbert

Anna Humphrey

Alissa Lee

Brandon Megorden

Sarah Randolph

Dave Ross

Nathan Younge

Lauren Ziegler
U.S. Trade and Development Agency

1000 WILSON BOULEVARD, SUITE 1600 • ARLINGTON, VIRGINIA 22209-3901

PHONE: (703) 875-4357 • FAX: (703) 875-4009 • WEBSITE: WWW.USTDA.GOV • E-MAIL: INFO@USTDA.GOV