I ~ 

. ' 

C onsolidaled 

Financial 

Statements 

,,; 

of the United States Government I 

Fiscal Year 1980/Prototype 
' .. . " 

I, ,,· • ,f ,. 

ERRATUM 

Consolidated Financial Statements of the 

United States Government 

Fiscal Year 1980/Prototype 

The fourth sentence of paragraph 3 of the Statement of the United States General 

Accounting Office appearing on page 3 should read as follows: 

The Financial Account'ing Standards Board is the recognized standardsetting body for business enterprises and the Governmental Accounting 

Standards Board would be the recognized standard-setting body for State 

and local governments. 

The underlined section was omitted from the printed text. 

•,'\,I 
DEPARTMENT OF THE TREASURY 

FISCAL SERVICE 

BUREAU OF GOVERNMENT FINANCl~L OPERATIONS 

WASHINGTON, D.C. 20226 

OFFICIAL BUSINESS 

PENALTY FOR PRIVATE USE, $300 

• 1· 

POSTAGE AND FEES PAID 

DEPARTMENT OF' THE TREASURY 

TREAS 11&3 

"'' -~ . 

U.8.MAIL 

® 
Statement of the Fiscal Assistant 

Secretary of the Treasury 

The Department of the Treasury is continuing its efforts to improve governmental accounting 

and financial reporting with the publication of this consolidated financial report. Like its predecessors, the report is part of an experimental effort to expand the use of accrual accounting 

concepts in government and stimulate improvements in financial reporting. 

There is a great deal of attention being given at present to the need for improved accounting 

and financial reporting at all levels of government. For example, several States, counties, and cities 

have begun developing and publishing simplified, comprehensive financial reports. In addition, the 

Government Accounting Standards Board Organization Committee (GASBOC) issued a report on 

October 13, 1981, that recommends a new structure for establishing standards for accounting and 

reporting by State and local governments. GASBOC was an ad hoc working committee composed 

of members from the American Institute of Certified Public Accountants, the Financial Accounting 

Foundation (FAF), Municipal Finance Officers Association, National Association of State Auditors, 

Comptrollers, and Treasurers, the General Accounting Office, and the National Council on 

Governmental Accounting. Seven public interest groups also participated in the GASBOC discussions. The FAF has expressed its support for the proposed new Government Accounting Standards Board (GASS) and will assume the initiative to implement the proposal. 

The Office of Management and Budget in April 1981 issued a report entitled "Debt Collection 

Project-Reports on Strengthening Federal Credit Management-Findings and Recommendations:· These findings and recommendations served as the basis for the development by Treasury 

of continuing reporting requirements on the status of accounts and loans receivable due from the 

public. On June 24, 1981, Treasury released TFRM Bulletin No. 81-08 to advise agencies of these 

co,:itinuing reporting requirements which are effective for the fiscal year ended September 30, 

1981. This financial data should be available for future reports. 

This year's report continues the presentation of alternative financial statement formats. The 

experimental set of summary-level statements first introduced in 1978 have been included again in 

this year's report. The significant feature of these alternative statements is the focus on selected 

current assets and liabilities of the Government. The excess of current liabilities over current assets 

is defined by identifying the approximate amount of liabilities incurred that will mature over the next 

year and the current assets presently available to liquidate them. 

As indicated in previous reports, these financial statements are not intended to compete with 

the budget process. The President's budget document submitted to the Congress is the Government's primary tool for planning and controlling the allocation of economic resources. Also, this 

report is not and should not be regarded as the Government's official report on its financial 

condition. A significant amount of additional research, discussion, and debate is necessary before 

reports such as this prototype can be considered to be prepared on the basis of generally accepted 

accounting principles. Reader reactions and comments on this prototype report are welcome. 

I would like to acknowledge, with deep regret, the death of Donald L. Scantlebury on June 18, 

1981. Mr. Scantlebury, as the Chief Accountant and Director, Accounting and Financial Management Division, U.S. General Accounting Office, played a major role in the development and 

-----) . . 

improvement of Federal consolidated financial statements. ~ 

. ~~ .·rc,y~ 

Paul H. Taylor 

Fiscal Assistant Secretary 

March 31, 1982 

1 . 
Statement of the United States 

General Accounting Office 

This consolidated financial report for fiscal year 1980, like its predecessors, is preliminary in 

nature and, as such, is intended to provide a broad focus on information useful in assessing the 

financial activities of the Federal Government as a whole. Significant progress has been made to 

improve this financial report since it was first issued beginning with fiscal year 1975. To a great 

extent, this is due to the efforts of an lnteragency Advisory Committee under the leadership of the 

past Comptroller General, Elmer B. Staats. 

However, much remains to be done before satisfactory financial reports can be prepared. In 

this respect, the General Accounting Office continues to support this effort, because we believe 

that consolidated financial information on Government activities provides a broader perspective on 

the overall financial condition of the Federal Government than that provided by the budgetary 

process alone. For example, the magnitude o( the Federal Government's pension liabilities, public 

debt, and estimated losses on guarantee and insurance programs are some of the important 

accounting disclosures that can be provided by the consolidated report. 

Moreover, we believe current initiatives underway iri the General Accounting Office to improve · 

financial accounting disclosure in the Federal Government will improve the relevance and reliability 

of information contained in future consolidated financial reports. By law, the General Accounting 

Office has the responsibility for setting the principles and standards for Federal agencies. Looking 

ahead, our goal is to incorporate the accounting principles and standards of the Financial 

Accounting Standards Board and the Governmental Accounting Standards Board-should the 

Board become operational-to the extent they would apply to the Federal sector. The Financial 

Accounting Standards Board is the recognized standard-setting body for State and local governments. By providing accounting disclosure for the Federal Government that is as comparable to 

the extent possible with that of business enterprises and other governmental entities, we hope to 

stimulate the understandability and usefulness of Federal Government financial reports. 

As with prior reports, the accompanying consolidated financial statements for the fiscal year 

ended September 30, 1980, are not audited by us and, accordingly, we do not express an opinion 

on them. 

March 31, 1982 

Charles A. Bowsher 

Comptroller General 

of the United States 

3 
I 

\, 

Consolidated Flnancial Statements 
6 

United States Government Consolidated Statement 

of Financial' Position as of September 30, 1980 and 1979 

[In billions] 

Assets 

\ ( What the Government owns-resources that are available 

to pay liabilities or to provide public services in the future) 

1980 1979 

Cash and monetary reserves · 

Operating cash in the Treasury .................... . 

International monetary reserves (Note 2) ........... . 

Other cash ..................................... . 

Receivables (net of allowances) 

Accounts receivable ............................. . 

Accrued ta><es receivable (Note 3) ................. . 

Loans receivable (Note 4) ....... : ................ . 

Advances and prepayments ...................... . 

Inventories (at cost) (Note 5) 

Goods for sale .................................. . 

Work in process ................................. . 

Raw materials .................................. . 

Materials and supplies for Government use ........ . 

Stockpiled materials and commodities ............. . 

Property and equipment (at cost) 

Land ( Note 6) ................................... . 

Buildings, structures, and facilities (Note 7) ......... . 

Military hardware (Note 8) ........................ . 

Equipment (Note 8) ................ : ............ . 

Construction in progress .......................... . 

Other .......................................... . 

Accumulated depreciation (Note 9) ................ . 

Deferred charges and other assets .................. . 

Total ....................................... . 

.$21.0 

16.8 

16.6 

$24.2 

15.2 

10.5 

54.4 49.9 

11.0 

26.0 

159.7 

10.6 

9.2 

26.7 

138.8 

3.4. 

207.3 178.1 

21.0 

1 .1 

3.6 

47.9 

14.5 

15.4 

1.0 

3.6 

40.5 

14.1 

88.1 74.6 

12.1 

122.0 

189.5 

57.3 

28.3 

2.5 

411.7 

(204.0) 

207.7 

32.5 

$590.0 

9.3 

112.3 

158.8 

54.4 

25.5 

1.6 

361.9 

(180.4) 

181.5 

28.0 

$512.1 

The accompanying notes are an integral part of this statement. 

/ 
United States Government Consolidated Statement 

of Financial Position as of September 30, 1980 and 1979 

[In billions] 

Liabilities 

( What the Government owes-liabilities incurred in the 

past that will require cash or other resources in the future) 

1980 1979 

Accounts payable ................................. . 

Unearned revenue ................................ . 

Borrowing from the public (Note 10) ................. . 

Accrued pension, retirement, and disability plans 

(Note 11) 

Military personn·eI ............................... . 

Civilian employees ............... · ............... . 

Social security .................................. . 

Veterans compensation .......................... . 

Federal employees compensation ................. . 

Loss reserves·for guarantee and insurance 

programs (Note 12) ............................. . 

Other liabilities .................................... . 

Total ....... : ............................... . 

Accumulated Position 

Accumulated position beginning of period ............ . 

Prior period adjustment (Note 13) ................... . 

Restated accumulated position beginning of period .... . 

Current period results .............................. . 

Current noncash provi$ion for social security 

(Note.14) ....................................... . 

Accumulated position end of period ................. . 

Total ....................................... . 

$81.6 

17.5 

708.9 

348.9 

430.3 

1,241.7 

174.6 

10.0 

· 2,205.5 

8.7 

59.7' 

3,081.9 

(2,169.7) 

(2,169.7) 

(142.4) 

(179.8) 

(2,491.9) 

$590.0 

The accompanying notes are an integral part of this statement. 

$77.7 

14.8 

639.4 

303.9 

368.7 

1,061.9 

153.0 

8.7 

1,896.2 

2.3 

51.4 

2,681.8 

(1,898.9). 

(14.0) 

(1,912.9) 

(122.8) 

(134.0) 

(2,169.7) 

$512.1 

7 
8 

United States Government Consolidated Statement of Operations for 

the Years Ended September 30,.1980 and 1979 

[In billions]: 

Revenues 

Levied under the Government's sovereign power 

Individual income taxes ......................... . 

Corporate income taxes ......................... . 

Social' insurance taxes and contributions ......... . 

Excise taxes ................................... . 

Estate and gift taxes .......................... . 

Customs duties ............................... . 

Miscellaneous ................................ . 

Earned through Government business-type 

operations 

Sale of goods and services ..................... . 

Interest ...................................... . 

Other ......................................... . 

Total' ....................................... . 

Expenses by function {see also summary of 

expenses by object and agency) 

Administration of justice .......................... . 

Agriculture ...................................... . 

Commerce and housing credit .................... . 

Community and regional development ............. . 

Education, training, employment, and social 

services ....... · ............................... . 

Energy· ......................................... . 

General government ............................. . 

General purpose fiscal assistance ................. . 

General science, space, and technology ........... . 

Health ......................................... . 

Income security (Note 11) 

Military personnel ............................. . 

Civilian employees ............................ . 

Social insurance ............................... . 

Veterans compensation ........................ . 

Other ........................................ . 

Interest .................................... : ... . 

International affairs .............................. . 

National defense ................................ . 

Natural resources and environment. ............... . 

Transportation .................................. . 

Veterans benefits and services ................... . 

Total ....................................... . 

Current period results ...................... . 

1980 1979· 

$244.1 

63.9 

160.7 

24.3 

6.4 

7.2· 

, 15.1 

521.7 

19.9 

13.9 

32.1 

$217.8' 

68.4 

141.6 

18.7 

5.4 

7.4 

11.3 

470.6 

17.5 

10.7 

30.6 

65.9 58.8 

587.6 529.4 

3.6 4.0 

3.7 4.0 

6.9 2.1 

8.0 9.4 

27.5 26.4 

7.8 9.3 

12.2 11.6 

17.7 17.4 

5.2 5.2 

61.6 56.7 

56.1 104.1 

75.9 25.7 

127.5 115.8 

31.8 20.3 

52.4 37.0 

59.9 48.3 

19.5 16.8 

110.1 99.8 

15.1 14.2 

19.0 16.1 

8.5 8.0 

730.0 652.2. 

$(142.4} $(122.8} 
Summary of expenses by object and agency 

1980 1979 

Expenses by object 

Salaries and employee benefits ................... . $96.4 $78.1 

Vendor .services and supplies ...................... . 111.9 93.4 

'Depreciation ..................................... . 23.6 20.6 

Pensions, health and life insurance ................ . 168:8 151.4 

Casualty insurance and indemnities ............... . 152.7 133.4 

Grants, subsidies, and contributions ............... . 116.7 127.0 

Interest ........................................ . 59:9 48.3 

Total ........................................ . 730.0 652.2 

Expenses by agency 

Legislative branch ............................... . 1.2 1.1 

Judicial branch ...... , .......................... . .6 .5 

Executive branch 

Office of the President ................ : .......... . 15.2 12.2 

Departments 

Agriculture .................................. . 52.9 44.5 

Commerce .................................. . 4.4 4.6 

Defense .................................. · .... . 177.0 .191.4 

Education .................................... .. 12.8 11.0 

Energy ...................................... . 7.6 6.6 

Health and Human Services .................. . 197.6 177.3 

Housing and Urban Development ............. . 15:7 13.8 

Interior ........................................ . 4.1 5.1 

Justice ....................................... . 4.4 3.1 

·Labor ....................................... . 31.4 24.3 

State ............................................ . 2.5 1.7 

Transportation ................................ . 21.4 15.9 

Treasury: Interest ............................ . 59.9 48.3 

Other ............................. . 13.3 11.6 

Independent agencies .......................... . 108.0 79.2 

Total ........................................ . $730.0 $652.2 

The accompanying notes are an integral part of this statement. 

9 
10 

United States Government Consolidated Statement 

of Changes in Financial Position 

for the Years Ended September 30, 1980 and 1979 

[In billions] 

1980 

Cash and monetary reserves beginning of period ..... . $49.9 

Sources of funds: 

Taxes and other levies ........................... . 521.7 

Other Government operations .................... . 65.9 

S~le of property and equipment. .................. . 

Net increase in borrowing ........................ . 69.5 

Depreciation .................................... . 23.6 

Provision for accrued pension, retirement, and 

disability plans ................. --:--: ............. . 129.5 

Provision for loss reserves for guarantee and 

insurance programs ........................... . 6.4 

Increase in liabilities ........................ : .... . 14.9 

Total sources of funds ....................... . 881.4 

Uses of funds: 

Spending on Government programs ............... . 730.0 

Purchase of property and equipment ..... · ......... . 49.8 

Increase in receivables ... : ....................... . 29.2 

Increase in inventories ........................... . 13.5 

Increase in deferred charges and other assets ...... . 4.5 

Total uses of funds .......................... . 827.0 

Cash and monetary reserves end of period ........... . $54.4 

The accompanying notes are an integral part of this statement. 

1979 

$46.2 

470.6 

58.8 

20.3 

32.7 

20.6 

115.8 

(.9) 

21.6 

785.7 

652.2 

52.0 

21.2 

6.8 

3.6 

735.8 

$49.9 
Notes to Financial Statements 

1. Summary of general accounting policies 

Principal financial statements.-These consist of a 

statement of financial position, a statement of operations, and a statement of changes in financial position. Because of their developmental nature, only the 

most significant changes in format are disclosed in 

the Notes. 

Principles of consolidation.-The statements include the accounts of all significant agencies and 

funds included in the unified budget of the U.S. Government. Agencies such as the U.S. Postal Service 

and the Federal Financing Bank, classified as offbudget (not included in calculating the budget surplus or deficit), have also been included in the statements because they are wholly owned and are clearly 

within the scope of Government operations. Government-sponsored enterprises such as the Federal 

land banks are excluded because they are privately 

owned. The Federal Reserve System is also excluded. lntragovernmental transactions were eliminated in consolidation. 

Fiscal year.-The fiscal year of the U.S. Government ends on September 30. 

Reclassification and adjustment.-For comparability, certain fiscal 1979 data are reclassified 

where appropriate to conform to the financial statement presentation for fiscal 1980. 

2. International monetary reserves 

This category, as of September 30, 1980, comprises the following items: $11.2 billion in gold, recorded at $42.22 per ounce, the statutory price at 

which gold is monetized by the issuance of gold 

certificates to the Federal Reserve System; $4.0 billion of special drawing rights, an international reserve 

asset; and $1.6 billion representing the U.S. reserve 

position in the International Monetary Fund. 

3. Accrued taxes receivable 

The September 30, 1980, total for taxes receivable 

represents $12.8 billion (net) for delinquent taxes and 

$13.2 billion of accrued corporate taxes. 

On July 23, 1980, the task group on taxes receivable presented its findings. Two methodologies were 

developed for accruing individual taxes receivable. 

Treasury will be reviewing these methodologies and 

considering them for inclusion in future reports. 

4. Loans receivable 

Outstanding loans and allowances for losses have 

been recorded as reported by the various lending 

agencies. The allowances for losses are presumed to 

be understated and they are under study. Interest 

rates and loan repayment terms vary considerably for 

outstanding loans, with rates up to 14.25 percent and 

terms from as short as 90 days to well over 40 years. 

5. Inventories 

Inventories include nondepreciable personal property and are generally stated at cost. The September 

30, 1980, total for inventories comprises $65.8 billion 

for the Department of Defense and $22.3 billion for 

other agencies. The amounts as of September 30, 

1979, were $53.3 billion and $21.3 billion, respectively. The inventory accounts do not include the 

weapons stockpile since the extent of this inventory is 

classified information. 

6. Land 

Land is valued at the cost paid by the Government. 

The cost of land acquired through donation, exchange, bequest, forfeiture, or judicial process is estimated by the General Services Administration at 

amounts the Government would have paid if purchased at the date of acquisition. Pending study of 

valuation methods, the Outer Continental Shelf and 

other offshore lands, and the 712 million acres of 

public domain lands have not been included. In 1972 

a committee of the House of Representatives estimated the value of public domain land (92 percent of 

the total onshore average owned by the Federal Government) to be $29.9 billion. 

7. Buildings, structures, and facilities 

This categ·ory consists of all real property owned 

by the Federal Government except land. The total 

reflects the acquisition cost of buildings and the cost 

of acquiring or erecting dams, utility systems, monuments, roads, and bridges. The September 30, 1980, 

total represents $50.0 billion for the Department of 

Defense and $72.0 billion for other agencies. The 

amounts as of September 30, 1979, were $47.8 billion and $64.5 billion, respectively. 

11 
8. Depreciable personal property 

Military hardware and equipment are recorded at 

acquisition cost and include only depreciable property currently in use or in usable condition. The major 

components of each category are summarized 

below. 

1980 1979 

[In billions] 

Military hardware 

Aircraft and related 

equipment .............. . $75.4 $63.1 

Ships and ·service craft ..... . 59.8 51.3 

Combat and tactical 

vehicles ................. . 34.8 27.2 

Missiles and related 

equipment .............. . 15.9 14.3 

Other ..................... . 3.6 2.9 -- Total .................... . $189.5 $158.8 

-- Equipment 

Department of Defense 

Industrial plant 

. equipment ............ . $24.2 $16.7 

Communications and 

electronics ............ . 2.3 3.7 

Other .................... ---' 3.7 8.5 

30.2. 28.9 

Other agencies ............. __ 27.1 _ 25.5 

Total ................... ======= $57.3 $54.4 

9. Accumulated depreciation 

Most Government agencies do not calculate depreciation on property and equipment; therefore, accumulated depreciation is estimated on a straightline 

basis, from available information. The useful lives · 

applied to each classification of asset are as follows: 

Buildings, structures, and facilities-50 years; ships 

and service craft-30 years; industrial plant equipment-20 years; all other depreciable assets-10 

years. 

10. Borrowing from the public 

As of September 30, 1980, the gross amount of 

Federal debt outstanding net of unamortized premiums and discounts was $908.5 billion. This 

amount is reduced by $199.6 billion for intragovernmental holdings. The amount of Federal debt outstanding net of unamortized premiums and discounts, as of September 30, 1979, was $828.5 billion. 

This amount was reduced by $189.1 billion for intragovernmental holdings. As of September 30, 1980, 

foreign and international investors held approximately $126 billion of the debt outstanding with the 

12 

public. The amount as of September 30, 1979, was 

$125 billion. For additional information on borrowing 

from the public, see the Federal Debt Maturity schedule in the supplemental section (page 29). 

11. Accrued pension, retirement, and disability 

plans 

The accounting for accrued pension, retirement, 

and disability plans is subject to several different 

assumptions, definitions, and methods of calculation. 

Each of the major plans is summarized below. 

Military personnel and civilian employees: Accrued pension liabilities for September 30, 1980, represent the excess of accumulated benefits over net 

assets available under the two plans and were calculated in accordance with instructions developed 

jointly by the General Accounting Office and the Office of Management and Budget under the provisions 

of Public Law 95-595. The liabilities under these two 

plans represent a major portion of the total unfunded 

liability which is to be reported under Public Law 

95-595. 

Social security: Based on the present value of the 

projected excess of benefits over contributions for 

present participants for the _next 75 years. 

It has not yet been determined whether the requirements for Federal pension plans, established as a 

result of Public Law 95-595, should be applied to the 

Social Security System due to the uniqueness of the 

actuarial cost methods used for measuring benefits 

under the system. 

Veterans compensation: Represents the present 

value of annual benefit payments. 

Federal employees compensation: Represents estimated future costs for approved Federal Employees 

Compensation Act cases. 

As annual pension reports are received from other 

plans covered by Public Law 95-595, their pension 

liability amounts will also be included. 

For additional information on accrued pensions, 

see Analysis of Pension and Retirement Plans 

schedule in the supplemental section .(page 30). 

12. Loss reserves for guarantee and insurance 

programs 

A number of agencies do not make any provision 

for estimated losses on loan guarantees and insurance, while others do not provide reasonable estimates of losses. In October 1980, the task group on 

insurance in force presented a number of recommendations on when and how losses should be 

determined and how they should be displayed in the 

consolidated statements. Treasury will be reviewing 

these recommendations and considering them for 

inclusion in future reports. 
For additional information on loss reserves for 

guarantees and insurance programs, see the Commitments and Contingencies of the U.S. Government 

schedule in the supplemental section (page 28). 

13. Prior period adjustment 

The balance of accumulated position at September 30, 1978, was restated to reflect the cumulative 

effect of corrections for errors identified in fiscal 1979. 

The inventory of stockpiled materials and commodities was overstated by $14.0 billion at September 30, 1978: 

14. Current noncash provision for social 

security 

The noncash provision for social security represents changes in the social security accrued liability 

between periods based on a 30-year amortization of 

the actuarial deficit. Accounting methods for this 

provision require additional study. 

The noncash amount is not included in the Statement of Operations because a substantial but indeterminate portion is not applicable to the current 

period. The Statement of Operations does include 

cash benefit payments. The current noncash provision for social security is $179.8 billion in 1980. 

15. Contingencies 

Several Government agencies insure businesses 

and individuals against various types of risks. The 

amount of insurance coverage in force, representing 

the maximum risk exposure to the Government, is 

$2,215.4 billion as of September 30, 1980. 

The Government also guarantees loans by nonGovernment enterprises to businesses and individuals. These guarantees become liabilities of the Government only when it is required to honor its guaran-

. -

tees. Loan guarantees in force at September 30, 

1980, are $327.7 billion.. For further information on 

contingencies, see the Commitments and Contingencies of the U.S. Government schedule in the 

supplemental section (page 28). 

16. Open-ended programs and fixed costs 

The Government commits itself to provide services 

by passing laws that make spending mandatory. 

Since a significant amount of future spending is fixed 

by law, it is very probable that the Government will pay 

for these programs in future years. Listed below are 

the programs for fiscal 1980 that can be terminated 

only if the laws are changed. 

Payments for individuals 

Social security and railroad 

retirement ................. . 

Federal employees retirement 

and insurance ............. . 

Unemployment assistance .... . 

Assistance to students ....... . 

Food and nutrition assistance .. 

All other .................... . 

Medicare and Medicaid ....... . 

Housing payments ........... . 

Public-assistance-related 

programs ................. . 

Net interest ................... . 

General revenue sharing ........ . 

Other open-ended programs and 

fixed costs ................ . 

Total .................... . 

1980 

[In billions] 

$121.8 

34.7 

18.0 

3.9 

13.2 

3.1 

49.0 

5.4 

18.6 · 

267.7 

52.5 

6.8 

16.0 

$343.0 

13 
Alternative 

Financial Statement Formats 
16 

United States: Government 

Consolidated Statement of Selected Current Assets: and: Liabilities 

as of September 30,. 1980 and 1979· 

[Jn, billions] 

Current Assets, 

( What the Government-owns,-resources, that· approximate amounts 

available -topay liabilities or to provide public service in·the. nextyear) 

1980, 

Cash and monetary reserves 

Operating cash in the Treasury .................. ,. . $21.0 

International monetary reserves ................... . 16.8 

Other cash ..................................... . 16'.6 

54.4 

Receivables (net' of allowances) 

Accounts receivable .............................. . 11.0 

Accrued taxes re.ceivable ......................... . 26.0 

Loans receivable ................................ . 25.2 

Advances and prepayments ...................... . 10.6 

72.8 

Total: Current assets .......................... . $127.2 

Current Liabilities 

( What the Government owes-amounts incurred in the 

past that will require cash or other resources in the next year) 

Accounts payable ................................. . 

Borrowing from the public ........................... . 

Accrued pension, retirement, and disability plans ..... . 

Total: Current liabilities ....................... . 

Excess of current liabilities over current assets ........ . 

$81.6 

384.5 

185.2 

651.3 

$524.1 

1979 

I 

$24.2 

1'5.2 

10.5 

49.9 

9.2 

26.7 

29.7 

3.4 

69.0 

$118.9 

$77.7 

342.9 

146.8 

567.4 

$448.5 
United States Government 

Consolidated. Statement of Other· Assets 

as of' September 30, 1980 and 1979 

[In billions] 

(Resources that generally would not be liquidated 

to finance operations in the next. year) 

1980 1979 

Loans receivable (net of allowances) ................ . 

Inventories (at cost) 

Goods for sale ..................................... . 

Work ih process .... ., ....................... ., .... .. 

Raw materials .................................. . 

Materials and supplies for Government use ........ . 

Stockpiled materials and commodities ............. . 

Property and equipment 

Land ............................................ . 

Buildings, structures, and facilities ................. . 

Military hardware ................................ . 

Equipment ....................................... . 

Construction in progress· .......................... . 

Other ........................................... . 

Accumulated depreciation ......................... . 

Deferred charges and other assets .................. . 

Total: Other assets ........................... . 

$134.5 

21.0 

1.1 

3.6 

47.9 

14.5 

$109.1 

15.4 

1.0 

3.6 

40.5 

14.1 

_ ___;;;_8.;;;_8 ';_;_1 7 4. 6 

12.1 

122.0 

189.5 

57.3 

28.3 

2.5 

411.7 

(204.0) 

207.7 

32.5 

$462.8 

9.3 

112.3 

158.8 

54.4 

25.5 

1.6 

361.9 

(180.4) 

181.5 

28.0 

$393.2 

l7 
18 

United States Government 

Consolidated Statement of Other Liabilities 

as of September 30, 1980 and 1979 

, [In billions] 

(Amounts owed that will not fall due in the next year) 

1980 1979 

Unearned revenue ................................ . 

Borrowing from the public ....... .-.. -................. . 

Accrued pension, retirement, and disability plans 

Military personnel ............................... . 

Civilian employees ...................... .- ....... . 

Social security ................................... _ 

Veterans compensation .......................... . 

Federal employees compensation ................. . 

Loss reserves for guarantee and insurance programs 

Other liabilities .................................... . 

Total: Other liabilities ........................ . 

l 

$17.5 

324.4 

335.5 

415.6 

1,097."0 

162.2 

10.0 

2,020.3 

8.7 

59.7 

$2,430.6 

$14.8 

296.5 

291.9 

355.4 

940.4 

153.0 

8.7 

1,749.4 

2.3 

51.4 

$2,114.4 
United States Government 

Consolidated Statement of Changes in the 

Operating Cash Balance 

for the Years Ended September 30, 1980 and 1979 

[In billions] 

Operating cash beginning of period ............. . 

Sources of cash: 

Budget receipts ............................. . 

Net borrowing from the public1 ••••••••••••••••• 

Other means of financing2 ••••••••••••••••••••• 

Total. .. : ........................... . 

Uses of cash: 

Budget outlays .............................. . 

Off-budget outlays ........................... . 

Other means ·of financing2 ••••••••••••••••••••• 

Total. .............................. . 

Operating cash end of period ................... . 

1 Reconciliation of net borrowing from the public: 

Balance as of 9/30/80 ................ . 

Balance as of 9/30/79 ................ . 

Current 

$384.5 

342.9 

1980 

$24.2 

520.0 

70.5 

614.7 

579.0 

14.2 

.5 

593.7 

$21.0 

Other 

$324.4 

296.5 

Net borrowing per Federal Debt Maturity (Sch. V) .................... . 

Adjustment for deferred discounts and premiums, 

and certain intergovernmental transactions ...................... . 

Net borrowing from the public .................................... . 

1979 

$22.4 

465.9 

33.6 

7.9 

529.8 

493.2 

12.4 

505.6 

$24.2 

Total 

$708.9 

639.4 

69.5 

1.0 

$70.5 

2 Includes the net change in: Special drawing rights, other assets, accrued interest 

payable to the public, checks outstanding, other liabilities, and other transactions not 

applied to surplus or deficit. 

19 
:Su:p,p·lemental S'chedules 
. 22 

-

Introductory Statement to the Schedules 

The following schedules present information which in some cases is unique to the Federal 

Government or is not generally shown as a part of published financial statements. The information 

in the schedules reflects various operations of the Government under laws passed by the 

Congress, and in some cases shows the financial costs to the Government of providing benefits 

through the tax system or through other indirect means as opposed to direct Federal revenue 

collection or spending. 

There are certain schedules that are incomplete. As a prototype, this report attempts to show 

what is planned with regard to providing a comprehensive overview of Federal financial operations. 

In some cases, the schedules support the financial results shown in the consolidated financial 

statements; in others, there is little relationship between the schedules and the statements. 

Consequently, each of the tables should be considered individually as a specialized information 

source. 

The following schedules are presented in this section: 

Flow of Funds Projections 

The information in this schedule was obtained from the 1982 Budget of the U.S. Government prepared by the Office of Management and Budget. It presents actual and projected 

1981-84 cash receipts and outlays. Although the consolidated financial statements are 

prepared on an accrual basis and reflect historical financial data, no attempt has been made 

here to develop projections on an accrual basis. The data presented here also differ from the 

statements in that certain receipts are treated as reductions of outlays, according to con-.. 

ventions adopted for budgeting purposes. 

These projections are not forecasts of future receipts and outlays, nor are they recommendations for policy-setting purposes. They simply reflect what may happen to cash 

basis revenues and expenditures considering certain basic assumptions reflected in the 

budget. The receipts projections are consistent with the continuation of current tax laws as 

modified in the 1982 Budget. Outlay estimates indicate the degree to which resources would 

be committed by the continuation of existing and currently proposed programs through fiscal 

1984. 

II Financial Statements of the U.S. Government Restated for General Price-Level Changes 

This schedule is developed from the Statement of Financial Position and Statement of 

Operations. Historical values have been restated to account for changes in the general 

purchasing power of the dollar. Accounting for inflation by this method provides comparability 

between years, since all dollars are equivalent to the current level of purchasing power. 

Derived from the GNP implicit price deflator, the conversion factors used here are: fiscal 

1980-1.034; fiscal 1979-1.112; fiscal 1978-1.203; fiscal 1977-1.285; transition quarter-1.340; 

and fiscal 1976-1.371. Monetary assets and liabilities as of September 30, 1980, are not 

restated because they already represent dollars of current general purchasing power. 

Ill Effect of Tax Benefits on Federal Revenues 

The Effect of Tax Benefits on Federal Revenues schedule is designed to show the 

revenue losses attributable to tax law provisions that allow special exclusions, exemptions, or 

deductions from gross income or provide special credits, tax rates, or deferrals. The schedule 

shows the approximate cost of tax benefits . 
It should be noted that the effect on revenues of adding or deleting a particular tax benefit 

would not be the same as the dollar amount currently associated with the benefit. Consequently, it is not possible to say what the effects of increasing or decreasing selected 

benefits would be without considering a number of variables. 

Some minor distortions may have occurred since data presented have been condensed 

for purposes of this report. 

IV Commitments and Contingencies of the U.S. Government 

The Commitments and Contingencies schedule is designed to show two basic types of 

financial information. These are the maximum potential liabilities and the anticipated liabilities 

which it is reasonably certain, based on experience and other factors, will occur. The 

anticipated liabilities are the equivalent to allowance for losses. 

As used in commercial accounting, a commitment represents an obligation to pay for 

goods or services upon delivery under a contractual arrangement. Commitments shown here 

are represented by long-term contracts for which appropriations have not yet been provided 

by the Congress, and undelivered orders representing obligations of currently available 

appropriations. 

A contingency represents a possible exposure to a liability depending upon the outcome 

of uncertain future events or circumstances. Contingencies are stated in terms of the maximum risk exposure without regard to existing contingent assets which would be available to 

offset potential losses. The "ratio of losses incurred to premiums written" represents the 

probability of incurring those losses. "Loss reserves'' supports the balance sheet liability "loss 

reserves for guarantee and insurance programs'' and represents the anticipated liability. 

V Federal Debt Maturity 

The Federal Debt Maturity schedule reflects information on the borrowing of the Federal 

Government needed to finance the Government's operations. 

Information on the debt is provided by type of debt instrument, average interest rate 

charged for each type, and maturity. This schedule directly supports the balance sheet 

caption, "Borrowing from the public," which is shown net of intragovernmental holdings and 

unamortized premium or discount. lntragovernmental holdings represent that portion of the 

total Federal debt held by Federal entities, including the major trust funds. 

VI Additions to Non-Federal Economic Resources 

This schedule indicates the ways in which the Government uses its resources to add to 

the physical and human resources of the Nation without acquiring physical assets. Some of 

these investment-type expenditures, while not adding to the Federal assets, add to the assets 

of State and local governments or private institutions, and all enhance the future productivity 

of the Nation. 

While this schedule does not provide a precise measure of the difference between capital 

and current items, it does indicate a useful general magnitude. 

Additions to State, local, and private assets include construction grants for highways, 

hospitals, and airports, subsidies to the merchant fleet, and conservation projects, which 

increase the value of private farmland and water resources. Other developmental expenditures reflect current Federal expenditures and grants which will benefit the Nation in future 

years by increasing productivity or well-being. These include research and development costs 

and education and training. 

VII Analysis of Pension and Retirement Plans 

The Analysis of Pension and Retirement Plans schedule is designed to provide an insight 

into the size of these programs and associated future financing requirements as of September 

23 
24 

30, 1980, for all GovernmenHnanced plans. Amounts for social security, military personnel, 

civilian employees, and other plans support the liabilities on the Consolidated Statement of 

Financial Position. The second and third parts of this schedule provide information on cash 

flows and benefits .paid to pensioners. 

To the extent that information for this schedule was available, it was obtained from direct 

contact with actuaries for the respective agencies, from published Department of the Treasury 

reports, and from annual reports filed with the General Accounting Office under Public Law 

95-595. The schedule is incomplete in that the number of plans ultimately to be included in 

the schedule is not yet resolve~as many as 38 separate plans might be included. GAO has 

developed instructions regarding the information to be contained in the format to be used in 

the annual reports. Figures developed under the GAO guidelines have been used in this 

schedule for 1980. · 

VIII Estimated Interest Subsidy on Direct Loans Outstanding 

Government public policy objectives are achieved in this area by providing credit for 

private borrowers and Government corporations.on more favorable terms than are available to 

the Treasury. Many programs do not involve subsidies. This schedule attempts to measure the 

difference between what the Government has to pay to borrow funds to support its general 

operations and the interest an agency charges a borrower. This schedule is being developed 

using gross loans receivable as a basis; therefore, it does not take into account allowances for 

losses and does not eliminate intragovernment loans. The schedule shows the annual and 

total costs to the Government for all significant loan subsidy programs. Computations are 

based on (1) the average life of the loan, which represents the average number of years for 

repayment of each type of loan; (2) the Treasury borrowing rate for comparable maturities, 

which is based on the rates that the Treasury had to pay on .interest-bearing public debt at the 

time the loan was made to the borrower; (3) the rate charged to the borrower, which is the 

average interest rate charged for each program; and (4) the total amount to subsidized loans 

outstanding, which-covers-the total amount of loans.subsidized by .the Treasury. 

Foreign subsidy information, supplied by the Treasury's Office of Economic Policy 

pursuant to section (f) of the Foreign Assistance Act, provides an improved picture of foreign 

loan subsidies. This schedule is a rough approximation of the costs of these programs to the 

Government. The lack of specific information on comparable maturities of public debt securities distorts the true cost. Additionally, while the schedule recognizes only annual interest 

costs, a more precise reading on the costs associated with the specific loan programs would 

require capitalizing the cost at the time the loans are made. The feasibility of these refinements is under consideration. 

IX Federal Facts and Figures 

The schedule is designed to provide readers of the financial statements and schedules a 

set of recognizable benchmarks to use in making comparisons and identifying any relationships. Major emphasis has been given to providing information on the gross national product, 

the Consumer Price Index, employment, Federal debt, Federal expenses, and personal 

income taxes. In all cases, the most current data available have been provided. 
SCHEDULE I 

Flow of Funds Projections 

for the Years Ended 

September 30, 1980-84 

[In billions] 

Cash receipts 

Taxes 

Individual .................................................... 

Corporation .................................................. 

Social insurance taxes and contributions 

Employment taxes and contributions ............................ 

Unemployment insurance ...................................... 

Contributions for other insurance and retirement .................. 

Excise taxes . . . . . . . . ' . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

Estate and gift taxes ............................................ 

Customs duties ................................................. 

Miscellaneous .................................................. 

Rents and royalties .............................................. 

Total cash receipts ............................................ 

Cash outlays by function 

Administration of justice ········································· Agriculture ..................................................... 

Allowances and civilian pay raises and contingencies ............... 

Commerce and housing credit .................................... 

Community and regional development ............................. 

Education, training, employment, and social services ................ 

Energy ........................................................ 

General government ············································ General science, space, and technology ............................ 

General purpose fiscal assistance ································ Health ......................................................... 

Income security ················································ Interest ........................................................ 

International affairs .............................................. 

National defense ................. · ................................ 

Natural resources and environment ............................... 

Transportation .................................................. 

Veterans benefits and services ................................... 

Total cash outlays ............................................. 

Total budget surplus (deficit) ··································· 

Deficit, off,budget Federal entities .............................. 

Total surplus (deficit) ...................................... 

Source: Budget of the United States Government, Fiscal Year 1982. 

1980 

Actual 

$244.1 

64.6 

138.8 

15.3 

6.6 

24.3 

6.4 

7.2 

30.6 

4.1 

542.0 

4.6 

4.8 

7.8 

10.1 

30.8 

6.3 

4;5 

5.7. 

8.6 

58.2 

193.1 

64.5 

10.7 

135.9 

13.8 

21.1 

21.1 

601.6 

(59.6) 

..J.!.!.g1 

$(73.8) 

1981 1982 1983 1984 

________ Estimate-------

$284.0 $331.7 $384.6 $451.2 

65.1 64.7 77.6 91.0 

161.1 187.0 210.1 231.9 

16.3 19.6 21.3 22.8 

7.4 8.0 8.5 9.0 

44.4 69.6 73.4 77.1 

6.9 7.7 8.5 9.4 

7.5 7.8 8.2 8.7 

33.9 37.6 40.3 42.9 

~ ____J!:!!_ ____J!:!!_ 9.9 

640.0 743.6 842.4 953;9 

4.8. 4.9 4.9 5.1 

1.1 4.8 4.5 4.8 1' • 

1.9 5.7 9.2 ,., 3.5 8.1 7.9 9.2 •. , 

11.1 9.1 8.9 9.2 ' , .. •\j, 

31.8 34.5 36.5 38,6 :: 

8.7 12.0 12.4 11.1 

5.2 5.2 5.2 5.4 ~r 

6.3 7.6 8.3 8.3 

6.9 6.9 7.5 7.6 

66.0 74.6 84.5 95.4· 

231.6 255.0 284.0 309.1 : 

80.4 89.9 91.7. 89.1 \I• 

11.3 12.1 12.9 13.6 i:l 

161.1 184.4 210.4 237.8 

{,, 14.1 14.0 15.0 15.5 

24.0 21.6 24.9 26.6 .. i7 

~ ~ ____gg_ ~ 

690.5 771.1 851.4 923.6 

(505) (27.5) (9.0) 30.3 

~ ~ ~ -1!.!Zl 

$(73.7) $(45.8) $(24.3) $15.6 

25 
Financial position 

Assets 

SCHEDULE II 

Financial Statements of the U.S. Government 

Restated for General Price-Level Changes 

(Restated to September 30, 1980, Dollars) 

[In billions] 

Cash and monetary reserves ....................................................................... . 

Receivables (net of allowances) ..................................................................... . 

Inventories (at cost) ................................................................................. . 

Property and equipment (net of accumulated depreciation) ............................................. . 

Deferred charges and other assets .................................................................. . 

Total assets ................................................................................... . 

Liabilities 

Accounts payable .............................................................................. : ... . 

Unearned revenue ................................................................................. . 

Borrowing from the public ............ : ............................................................. . 

Accrued pension, retirement, and disability plans ....................................................... . 

Loss reserves for guarantee and insurance programs .................................................. . 

Other liabilities ....... , ............................................................................ . 

Total liabilities ................................................................................. . 

Accumulated position 

Accumulated position beginning of period ............................................................ . 

Prior period adjustment. ............................................................................ . 

Restated accumulated position beginning of period .................................................... . 

Current period results .............................................................................. . 

Current noncash provision for social security .......................................................... . 

Accumulated position end of period .................................................................. . 

Total liabilities and accumulated position .......................................................... . 

Operating results 

Revenues 

Taxes and duties .................................................................................. . 

Business-type operations ........................................................................... . 

Total revenues ................................................................................. . 

Expenses 

Administration of justice ............................................................................ . 

Agriculture ............................ : ........................................................... . 

Commerce and housing credit ...................................................................... . 

Community and regional development ......................... · ...................................... . 

Education, training, employment, and social services .................................................. . 

Energy ....................................... : ................................................... . 

General government ............................................................................... . 

General purpose fiscal assistance ................................................................... . 

General science, space, and technology ............................................................. . 

Health ............................................................................................ . 

Income security ................................................................................... . 

Interest. ...................................... • • • • • • • • • • • • • • • • • • • • • • • • • • • • · · · · · · · · • · · · · · · · · · · · · · · · · 

International affairs ................................................................................ . 

National defense .................................................................................. . 

Natural resources and environment .................................................................. . 

Transportation ..................................................................................... . 

Veterans benefits and services ...................................................................... . 

Total expenses ................................................................................ . 

General price-level gain .............................................................................. . 

Current period results .......................................................................... . 

1980 1979 1978 1977 

Sept. 30 Sept. 30 Sept. 30 Sept. 30 

Comparative summary of selected financial data 

Financial position 

Total assets .................................... $675.2 $594.7 $572.5 $543.0 

Total liabilities ................................... 3,087.9 2,687.0 2,594.1 2;487.2 

Accumulated position end of period ............. $(2,412.7) $(2,092.3) $(2,021.6) $(1,944.2) 

Operating results 

Total revenues .................................. $607.5 $546.4 $524.8 $475.1 

Total expenses .................................. 754.8 673.0 627.1 540.1 

General price-level gain .......................... 12.8 194.1 145.3 90.9 

Current period results .......................... $(134.5) $67.5 $43.0 $25.9 

26 

1980 1979 

Sept. 30 Sept. 30 

$54.4 $49.9 

207.3 178.1 

91.2 77.0 

280.2 252.5 

42.1 37.2 

$675.2 $594.7 

$81.6 $77.7 

22.3 19.3 

708.9 639.4 

2,205.5 1,896.2 

9.9 3.0 

59.7 51.4 

3,087.9 2,687.0 

(2,092.3) (2,006.4) 

(15.2) 

(2,092.3) (2,021.6) 

(134.5) 67.5 

(185.9) (138.2) 

(2,412.7) (2,092.3) 

$675.2 $594.7 

$539.4 $485.7 

68.1 60.7 

607.5 546.4 

3.7 4.0 

3.8 6.1 

7.1 1.3 

8.3 9.9 

28.5 27.2 

8.1 8.8 

12.6 14.0 

18.3 18.0 

5.4 5.4 

63.7 57.5 

355.4 312.7 

61.9 49.8 

20.2 17.5 

113.8 101.8 

15.6 14.4 

19.6 16.3 

8.8 8.3 

754.8 673.0 

12.8 194.1 

$(134.5) $67.5 

1976 

Sept. 30 June 30 

$526.3 $527.3 

2,308.3 2,272.2 

$(1,782.0) $(1,744.9) 

$126.4 $526.6 

172.1 629.5 

17.4 82.1 

$(28.3) $(20.8) 
lndlvlduals 

Income exclusions 

SCHEDULE Ill 

Effect of Tax Benefits on Federal Revenues 

for Tax Years 1980 and 1979 

[In billions] 

Payroll benefits and allowances (group life, accident, and unemployment) .......................................... . 

Disability and retirement benefits (social security and private) ..................................................... . 

Education allowances (scholarships and GI benefits) ............................................................. . 

Medical care and insurance (employer premiums paid) ........................................................... . 

Interest and dividends (State and local bonds, and life insurance) ................................................. . 

Foreign earnings and investment incentives (income earned abroad) ............................................... . 

Capital gains at death ........................................................................................ . 

Other (includes real estate, old-age credit on home sales, and cooperatives) ........................................ . 

Income deferrals 

Interest on U.S. savings bonds ............... : ................................................................ . 

Real estate (home sales) ..................................................................................... . 

Deductions and credits · 

Old-age, disability, and other personal exemptions .............. , ................................................ . 

Investments (commercial capital gains, depreciation, credits, and other investment incentives) ........................ . 

State and local nonbusiness, property, and other taxes ........................................................... . 

Property damages and losses (casualty losses) ................................................................. . 

Medical. ................... : ................................................................................ . 

Contributions (charitable and political) .......................................................................... . 

Interest (mortgage and consumer) ................. ." ........................................................... . 

Dependent care and work incentives (child and dependent care) .................................................. . 

Real estate (new home purchases) ............................. ' ............................................... . 

Earned income .............................................................................................. . 

Corporations 

Income exclusions 

Interest and dividends (State and local debt) .................................................................... . 

Foreign earnings and investment incentives (domestic international sales, Western Hemisphere trade, and controlled 

foreign corporations) .................................................................................... : .. . 

Interest deferrals 

Taxes (shipping companies) ................................................................................... . 

Real estate (capital gains) .................................................................................... . 

Deductions and credits 

Exemptions (credit unions, corporate surtax, and cooperatives) .................................................... . 

Investments 

Commercial buildings and equipment (investment credit, depreciation, construction period interest, taxes, and 

expensing developmental costs) ........................................................................... . 

Mining and timber (capital gains tre.atment of royalties and certain income) ....................................... . 

Agriculture related (capital outlays and gains on certain income) .................... · ............................. . 

Contributions (charitable and political) .......................................................................... . 

Work incentives (employment credits under work programs) ....................................................... . 

Employee stock ownership plans (funded through investment and tax credits) ....................................... . 

Excess bad debt reserves (financial institutions) ................................................................. . 

Source: Budget of the United States Government, Fiscal Year 1982. 

Estimated amount 

of revenue loss 

1980 1979 

$3.6 $3.2 

38.3 25.0 

.4 .3 

12.1 11.1 

6.5 6.0 

.6 .5. 

4.8 4.4 

.6 .3 

.1 .5 

1.0 1.1 

4.5 4.1 

22.6 17.1 

22.0 19.7 

.5 .5 

3.2 3.2 

7.9 6.9 

20.4 13.8 

.9 .7 

.7 .3 

5.1 4.1 

2.8 2.5 

.1 .1 

.7 .7 

8.0 7.0 

23.1 20.9 

1.0 .6 

.1 .1 

.9 .9 

.4 1.2 

.7 .7 

.5 .8 

27 
SCHEDULE IV 

Commitments and Contingencies 

of the U.S. Government. 

as of September 30, 1980 

[In billions] 

Commitments 

Long-term contracts 

Shipbuilding ................................................................... : ................................ ·. 

GSA building construction ........................................................................................ . 

Energy .......................................................................................................... . 

Other .......................................................................................................... . 

Subtotal. ..................................................................................................... . 

Undelivered orders 

Legislative branch ............................................................................................... . 

Judicial branch .................................................................................................. . 

Executive Office of the President .................................................................................. . 

Funds appropriated to the President ............................................................................... . 

Defense ......................................................................................................... . 

Education ...................................................................................................... . 

Health and Human Services ...................................................................................... . 

Housing·and Urban Development ................................................................................. . 

Transportation .................................................................................................. . 

Environmental Protection Agency ................................................................................. . 

Other agencies ................................................................................................. . 

Off-budget agencies ............................................................................................. . 

Subtotal. ..................................................................................................... . 

iotal commitments ................................................................................ · ........... . 

Ratio of 

Contingent liability losses incurred 

(maximum risk to premiums 

exposure) written 

Contingencies 

Government loan and credit guarantees 

Housing ............................................................... . $173.9 0.07% 

Export-Import Bank of the United States .................................. . 6.2 

Business loan and investment fund ....................................... . 9.9 3.40 

Farm ownership ........................................................ . 18.5 .98 

Rural development ..................................................... . 33.4 .42 

Shipbuilding and operations ............................................. . 7.4 

Transportation .......................................................... . 2.6 

Veterans benefits ...................................................... . 48.6 .06 

Other ................................................................. . 27.2 1.60 

Subtotal. ............................................................ . 327.7 

Insurance in force 

Federal Deposit Insurance Corp ......................................... . 925.0 .02 

Federal Savings and Loan Insurance Corp ................................ . 487.3 .01 

Federal Insurance Administration ......................................... . 409.7 .03 

Nuclear Regulatory Commission ......................................... . 89.5 

National Credit Union Administration ...................................... . 52.3 .04 

Veterans Administration ................................................. . 32.6 .04 

Department of Transportation ............................................ . 185.0 

Other ................................................................. . 34.0 1.80 

Subtotal. ............................................................ . 2,215.4 

Unadjudicated claims 

Transportation ......................................................... . 4.0 

Other. ................................................................ . 12.9 

Subtotal. ............................................................ . 16.9 

Other contingencies 

Veterans readjustment benefits .......................................... . 7.5 

Other ................................................................. . 8.2 

Subtotal. ............................................................ . 15.7 

Total contingencies ................................................. . $2,575.7 

Total loss reserves ................................................. . 

'Less than $100 million. 

28 

Amounts 

outstanding 

$4.6 

2.2 

10.4 

_____ll 

~ 

.1 

17.2 

43.8 

6.7 

23.4 

237.7 

22.1 

12.1 

36.9 

__ 3_.1 

~ 

$423.6 

Loss 

reserves 

$0.1 

.4 

.2 

.1 

.4 

1.2 

.2 

6.5 

.1 

.t 

__ ._6 

7.5· 
SCHEDULE V 

Federal Debt Maturity 

as of September 30, 1980 

[In billions] 

Average Maturit 

interest Within 

Total rate 1 1-5 5-10 

debt (percent) year years years 

Marketable 

Bills ............................... . $195.0 10.436 $195.0 

Notes ............................. . 310.2 9.347 97.9 $163.6 $48.7 

Bonds ............................. . _l!.Q ~ 1.7 ______fil ______H 

Nonmarketable 

~ ~ ~ _.!.§.d ~ 

Foreign government series .......... . 25.2 7.576 9.2 15.0 1.0 

Government account series .......... . 1.0 8.355 1.0 

U.S. savings bonds ................. . 72.7 5.681 7.7 14.7 3.0 

Other ..................... · ........ . ~ 6.444 

~ 6.241 16.9 ~ 5.0 

Other 

Agency securities .................. . 5.3 5.856 .1 .6 .2 

Other ............................. . ___ 1._3 

~ 5.856 .1 ___ .6 .2 

Net borrowing from the public 

Current period ..................... . 708.9 311.6 199.6 57.2 

Prior period ........................ . ~ ~ ~ 53.7 

Net increase ......................... . $69.5 ~ $11.1 $3.5 

•Less than $100 million. 

SCHEDULE VI 

Additions to Non-Federal 

Economic Resources 

for the years Ended September 30, 198~2 

[In billions] 

Additions to State, local, and private assets 

Community and regional development ............................... . 

Environment ....................................................... . 

Transportation 

Highways and mass transit ........................................ . 

Other transportation ........................................... : .. 

Other ............................................................. . 

Total additions ................................................... . 

Other developmental expenditures 

Agriculture ........................................................ . 

Conservation 

Economic development ................................................... . 

Education ............................................................... . 

Education-income support. ................................................ . 

Environment. ............................................................ . 

Health .................................................................. . 

Science and engineering .................................................. . 

Training ................................................................. . 

Transportation ........................................................... . 

Other ................................................................... . 

Total developmental expenditures ........................................ . 

Total investment outlays ............................................... . 

Source: Budget of the United States Government, Fiscal Year 1982. 

1980 

Actual 

$5.8 

4.6 

11.0 

.6 

.2 

22.2 

.7 

3.8 

.4 

12.0 

4.2 

.6 

4.8 

7.5 

8.9 

.4 

__ .5_ 

~ 

$66.0 

10-20 

years 

~ 

~ 

1.8 

__ 1_.8 

34.0 

23.6 

~ 

1981 

$5.6 

4.5 

11.1 

.5 

__ .2_ 

~ 

.8 

3.8 

.4 

13.1 

3.8 

.6 

5.0 

7.7 

8.4 

.4 

__.7_ 

_fil_ 

$66.6 

20 

years or 

longer Various 

_..ruJ. 

_.1Ll. 

$47.3 

24.2 

~ 

2.6 

1.3 

~ 

31.1 75.4 

____1M 

$1.7 

~ 

$(12.6) 

1982 

Estimate 

$5.7 

4.5 

11.0 

.6 

.2 

22.0 

.9 

4.1 

.4 

13.9 

3.5 

.6 

5.2 

8.7 

9.4 

.4 

__ .8_ 

..£JL 

$69.9 

29 
) 

SCHEDULE VII 

Analysis of Pension and Retireme_nt Plans 

as of September 30, 1980 

[In billions] 

Llabllltles 

Accrued liability, September 30, 1979 ......................................... . 

Add: 

Accruals ........................................................... . 

Deduct: 

Benefits paid ....................................................... . 

Accrued liability, September 30, 1980 ................................... , ..... . 

Accrued liability, September 30, 1980 ......................... • ................ . 

Cumulative trust fund transactions through end of period 

Receipts ............................................................... . 

Outlays (net of unamortized discount and premium on investments) ........... . 

· Total assets of the trust fund ......................................... . 

Liability net of trust fund balance, September 30, 1980 .............. . 

Social 

security 

$1,061.9 

304.3 

124.5 

$1,241.7 

$1,241.7 

1,034.1 

1,001.1 

33.0 

$1,208.7 

Military 

Military 

personnel 

$303.9 

56.9 

11.9. 

$348.9 

$348.9 

$348.9 

Civilian 

employees 

$368.7 

74.9 

13.3 

$430.3 

$430.3 

180.6 

107.0 

73.6 

$356.7 

Other 

NIA 

NIA 

NIA 

NIA 

NIA 

NIA 

NIA 

NIA 

NIA 

Social securit~ eersonnel Civilian emelo~ees Other 

Number Percent of Contribution 

of years taxable rate 

covered payroll Amount Amount (percent) Amount Amount 

Projected cash receipts and 

disbursements 

Cash receipts 

1980 ................................ 10.56 $120.9 7 $20.5 NIA 

1981-1984 ........................... 4 10.82 669.2 7 93.1 NIA 

198:r-1994 ........... 10 12.18 3,949.2 7 345.2 NIA 

199:r-2004 ........................... __ 10 __ 13.85 9,350.3 7 _____llij_ NIA 

Subtotal ........................... 25 14,089.6 1,033.9 NIA 

200:r-2029 ........................... 25 14.24 72,749.3 7 3,374.6 NIA 

2030-2054 ........................... 25 9.05 182,438.9 7 10,086.3 ~ 

Total. ........................... ••• 269,277.8 14,494.8 ~ 

Cash disbursements 

1980 ......................... · .. · · · · 10.87 124.5 $11.9 13.3 NIA 

1981-1984 ........................... 4 11.24 694.8 62.1 67.1 NIA 

198:r-1994 ........................... 10 10.67 3,393.6 256.5 275.8 NIA 

199:r-2004 ........................... 10 10.40 6,993.1 440.1 ~ NIA 

Subtotal ........................... 25 11,206.0 770.6 821.8 NIA 

200:r-2029 ........................... 25 13.57 74,755.8 3,037.6 NIA 

2030-2054 ........................... 25 16.98 375,220.4 9,808.2 ~ 

Total.: ............................. 461,182.2 770.6 13,667.6 ~ 

Net receipts or (disbursements) ·········· $(191,904.4) $(770.6) $827.2 NIA 

Calendar ~ear 

1980 1979 1978 1977 1976 1975 1974 1973 1972 1971 

Beneficiaries 

Number receiving benefits (thousands) 

Social security .............................. 35,428 35,125 34,587 34,084 33,024 32,085 30,854 29,872 28,345 27,289 

Military personnel. ........................... 1,306 1,263 1,220 1,175 1,129 1,070 1,007 946 890 831 

Civilian employees ........................... 1,675 1,637 1,583 1,508 1,432 1,372 1,306 1,192 1,092 1,026 

Other plans ................................. NIA NIA NIA NIA NIA NIA NIA NIA NIA NIA 

Average monthly benefits (dollars) 

Social security .............................. 299 258 229 211 194 179 162 143 137 112 

Military personnel. ...... : .................... 766 713 626 583 539 486 424 387 364 340 

Civilian ·employees ........................... 784 608 604 527 495 439 366 308 276 266 

Other plans ................................. NIA NIA NIA NIA NIA NIA N/A NIA NIA N/A 

NIA Not available. 

30 
SCHEDULE VIII 

Estimated Interest Subsidy 

on Direct Loans Outstanding 

as of September 30, 1980 

[In billions] 

Total Treasury 

Agency and program 

Total Loan subsidized borrowing 

loans maturity loans range 

outstanding range outstanding (percent) 

Domestic loans 

Agriculture 

Commodity Credit Corporation ............... . 

Farmers Home Administration ................ . 

Rural Electrification Administration 

Electric systems .......................... . 

Telephone systems ....................... . 

Other ...................................... . 

Commerce 

Economic Development Administration ........ . 

Other ................................... , .. . 

Education .................................... . 

Health and Human Services 

Health education ........................... . 

Other ...................................... . 

Housing and Urban Development 

Federal housing ............................ . 

Government National Mortgage Association .... . 

Community development .................... . 

Elderly or handicapped ...................... . 

Other ...................................... . 

Interior 

Water and power resources .................. . 

Other ...................................... . 

Transportation 

Highways .................................. , 

Other ...................................... . 

Veterans 

Insurance .................................. . 

Education and housing ...................... . 

Other ...................................... . 

District of Columbia ........................... . 

Small Business Administration 

$5.4 

4.1 

7.3 

3.1 

.3 

.8 

.2 

8.7 

.6 

.1 

3.2 

· 4.3 

.7 

2.0 

.6 

.3 

.1 

.2 

.1 

1.3 

.1 

1.7 

1.5 

Business and investment . . . . . . . . . . . . . . . . . . . . . 2.3 

Disaster . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.3 

Federal Financing Bank . . . . . . . . . . . . . . . . . . . . . . . . 61.5 

Other .................... : .................... ___ 2_.2_ 

Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118.0 

Foreign loans 

Department of Defense ........................ . 

Agency for International Development 

Country loans .............................. . 

Currency loans to foreign governments ........ . 

Currency loans to private enterprises .......... . 

Agriculture 

Long-term export sales ...................... . 

Commodity loans ........................... . 

Treasury 

Military Sales Act ........................... . 

Other ...................................... . 

Overseas Private Investment Corporation ........ . 

Export-Import Bank of the United States ........ . 

Inter-American Development Bank .............. . 

1.4 

16.2 

·.9 

7.1 

1.6 

3.8 

.3 

.1 

13.4 

.4 

Other ......................................... ___ _ 

Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45.2 

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $163.2 

NIA Not available. 

'Less than $100 million. 

Various 

Up to 40 

35 

35-50 

Up to 50 

Up to 40 

Up to 40 

Various 

5-20 

Up to 30 

Up to 40 

25-30 

Various 

30-50 

Various 

2-50 

Various 

2-10 

1-40 

Indefinite· 

Indefinite 

7-30 

5-40 

10-25 

Up to 30 

Up to 30 

Various 

Up to 40 

5-45 

7-41 

4--22 

5-40 

3-5 

1-30 

Various 

1-20 

Up to 28 

20-30 

Various 

$NIA 

NIA 

1.4 

16.2 

.8 

7.1 

1.6 

2.6 

.3 

.1 

13.2 

.2 

43.5 

$NIA 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

2-9 

4--9 

2-9 

3-9 

3-8 

3-9 

6-9 

6-9 

2-9 

3-8 

2-9 

3-6 

5-6 

Range 

charged Annual Total 

borrower cost to cost to 

(percent) Government Government 

Various 

1-13.5 

2-5 

2-5 

Various 

3-8 

6-7 

Various 

5-6.3 

2.3-13.5 

3-12 

7.8-8.5 

3.0 

6.9 

2.5-8.5 

1-7.5 

1-10.3 

4.1-8.4 

4--5 

4--9.5 

8 

2.6-10.3 

7-8.3 

8.3 

6-10 

1-13.5 

3-9 

1-9 

1-8 

4--10 

1-6 

1-21 

7-13 

2-8 

1-12 

3-14 

2-4 

Various 

$NIA 

NIA 

.2 

.1 

.3 

$NIA 

$NIA 

NIA 

0.3 

8.6 

5.0 

1.1 

(.4) 

14.6 

$NIA 

31 
Gross national product 

SCHEDULE IX 

Federal Facts and Figures 

Current dollars .............................................................. . 

Per capita ................................................................ . 

1972 dollars ................................................................ . 

Per capita ................................................................ . 

Population (Includes Armed Forces) ........................................... . 

Consumer Price Index 

All items (1967 = 100) ....................................................... . 

Purchasing power (1967 = $1.00) ............................................. . 

Employment 

Total labor force ............................................................. . 

Total employed .............................................................. . 

Federal employment 

Military ................................................................... . 

Civilian ................................................................... . 

Federal employment as a percent of total U.S. employment ...................... . 

Federal debt 

Gross debt. ................................................................. . 

1972 dollars .............................................................. . 

Held by public (current dollars) ................................................ . 

Percent of GNP ............................................................. . 

Per capita .................................................................. . 

1972 dollars ................................................................ . 

Interest on the Federal debt (current dollars) . .................................. . 

Per capita .................................................................. . 

~=m~~P ............................................................. . Percent of total Federal expenses ............................................. . 

1972 dollars ................................................................ . 

Total Federal expenses (accrual} 

Current dollars .............................................................. . 

Percent of GNP .................... : ........................................ . 

Per capita .................................................................. . 

Personal income 

Current dollars .............................................................. . 

Percent of GNP ........................................................... . 

Per capita ................................................................ . 

1972 dollars ................................................................ . 

Percent of GNP ........................................................... . 

Per capita ................................................................ . 

Total Income taxes paid for adjusted income levels 

Under $6,000 ............................................................... . 

Number of taxpayers ......................................................... . 

$6,000-$9,999 .............................................................. . 

Number of taxpayers ......................................................... . 

$1 O,OOo-$15,999 ............................................................ . 

Number of taxpayers ......................................................... . 

$16,000-$24,999 ............................................................ . 

Number of taxpayers ......................................................... . 

$25,00o-$49,999 ............................................................ . 

Number of taxpayers ......................................................... . 

$50,00o-$99,999 ............................................................ . 

Number of taxpayers ......................................................... . 

$1 00, 000--$999, 999 .......................................................... . 

Number of taxpayers ......................................................... . 

$1 million and over .......................................................... . 

Number of taxpayers ......................................................... . 

Federal participation In domestic credit markets 

Total funds advanced in U.S. credit markets (nonfinancial sectors) ................. . 

Totals funds advanced under Federal guidance (direct and guaranteed loans) ...... . 

Federal participation rate ..................................................... . 

Total funds raised in U.S. credit markets (nonfinancial sectors) .................... . 

Total funds raised under Federal guidance (includes Federal borrowing from the 

public, guaranteed borrowing, and sponsored agency borrowing) ................ . 

Federal participation rate ..................................................... . 

N/A Not available. 

32 

Unit of 

measure 1980 

billions 

dollars 

billions 

dollars 

millions 

millions 

millions 

millions 

millions 

percent 

billions 

billions 

billions 

percent 

dollars 

billions 

billions 

dollars 

percent 

percent 

billions 

billions 

percent 

dollars 

billions 

percent 

dollars 

billions 

percent 

dollars 

billions 

thousands 

billions 

thousands 

billions 

thousands 

billions 

thousands 

billions 

thousands 

billions 

thousands 

billions 

thousands 

billions 

thousands 

billions 

billions 

percent 

billions 

billions 

percent 

2,637 

11,814 

1,472 

6,593 

223.2 

251.9 

.40 

105.0 

97.2 

2.1 

2.8 

5.0 

914.3 

510.3 

708.9 

26.9 

3,175 

395.6 

59.9 

268.3 

2.3 

8.2 

33.4 

730.0 

27.7 

3,270 

2,206 

83.6 

9,880 

1,231 

83.6 

5,514 

N/A 

N/A 

348.0 

80.8 

23.2 

348.0 

124.4 

35.7 

1979 1978 

2,395 2,141 

10,848 9,784 

1,434 1,394 

6,496 6,370 

220.8 218.9 

223.7 199.1 

.45 .50 

103.5 100.9 

97.5 94.9 

2.1 2.2 

2.8 2.8 

5.0 5.3 

833.8 780.4 

499.3 508.1 

639.4 606.7 

26.7 28.3 

2,896 2,772 

382.9 395.0 

48.3 48.7 

218.7 222.5 

2.0 · 2.3 

7.4 8.5 

28.9 31.7 

652.2 '570.7 

27.2 26.7 

2,954 2,607 

1,959 1,743 

81.8 81.4 

8,870 7,963 

1,173 1,135 

81.8 81.4 

5,312 5,185 

1.4 1.6 

19,340 22,284 

7.5 7.9 

15,451 15,153 

20.9 21.4 

16,796 16,694 

44.3 44.5 

17,977 17,503 

78.4 64.7 

14,962 11,911 

29.7 24.3 

1,878 1,468 

27.7 22.0 

442 352 

4.0 2.1 

4 2 

410.7 366.9 

73.3 59.0 

17.8 16.1 

410.7 366.9 

81.2 94.5 

19.8 25.8 

U.S. GOVERNMENT PRINTING OFFICE 1982 0 - 374-823 
I 

DEPARTMENT OF THE TREASURY 

FISCAL SERVICE 

BUREAU OF_ GOVERNMENT Fi"NANCIAL OPERATIONS 

WASHINGTON, D.C. 20226 

OFFICIAL BUSINESS 

PENALTY FOR PRIVATE USE, $300 

. 

'f' 

. 

' 

POSTAGE AND FEES PAID 

DEPARTMENT OF THE TREASURY 

TREAS 553 

• 

U.S.MAIL 

® 

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