Consolidated 

Financial 

Statements 

of the United States Government 

Fiscal Year 1981 /Prototype 

Com pi led by . 

Bureau : of Government 

Financial Operations . 

Departin ent · of the Treasury 
THE SECRETARY OF THE TREASURY 

WASHINGTON 

February 8, 1983 

Statement of the Secretary 

of the Treasury 

This Consolidated Financial Statement for the U.S. 

Government is part of a continuing experimental effort 

to apply the principles of business accounting to the 

business of government. This Administration is committed 

to improving the Federal Government's financial systems, 

minimizing the burden on taxpayers by controlling Federal 

spending and managing our resources wisely. 

The President's budget is the primary tool for 

planning -and controlling the allocation of resources. 

However, this report provides you, the taxpayer, with 

general information on the impact of prior spending 

decisions on the financial·condition of your Government. 

It is intended to enhance public understanding of the 

relationship between our resources and the claims against 

those resources. By looking at the build-up or dimLnution 

of assets and liabilities over time, it also provides 

early warning signals to policy decision-makers. 

Improvements are still needed in agency accounting 

systems which produce data for this report, but we will 

continue to work with Executive Branch agencies and with 

the GSneral Accounti~g Office to improve Federal financial 

reporting. 

Reader reactions and comments on this prototype report 

are welcome. 

. /i l ---, .· .. ·· vvt~~ /. μ<-, ~ 

Donald T. Rega ✓ 
COMPTROLLER GENERAL OF THE UNITED STATES 

WASHINGTON, D.C. 20S48 

February 8, 1983 

STATEMENT OF THE UNITED STATES 

GENERAL ACCOUNTING OFFICE 

This financial report gives an overall picture that is not available 

elsewhere and can be useful in assessing the financial activities of the 

Federal Government as a whole. Although this report, like its predecessors, 

is a prototype, it derronstrates the value of an idea we strongly support--the 

annual publication of formal Consolidated Financial Statements of the United 

States Gove!nment. 

Consolidated financial information can provide a wider perspective on the 

financial condition of the Government than is provided by the budgetary process 

alone. For example, a consolidated report could disclose the magnitude of the • 

Government's pension liabilities, public debt, and estimated losses on guarantee 

and insurance programs. 

Enactment of the Federal Managers' Financial Integrity Act of 1982 derronstrates the Government's cormnitment to effective systems of internal control. 

This legislation places the responsibility for effective internal controls with 

top management by requiring the head of each executive agency to report annually 

to the President and the Congress on whether the agency's internal control systems comply with standards prescribed by the Comptroller General. A plan of 

correction must be developed for systems not complying with the standards. This 

legislation will require management to give rrore attention to internal controls 

and should yield significant benefits through improved financial management. 

The General Accounting Office has begun two major projects to improve financial accounting and reporting by the Federal Government. First, we are 

developi.ny the internal control standards required by the Federal Managers' 

Financial Integrity Act. Secondly, we are revising the accounting principles 

and standards that we are required by law to establish for executive agencies. 

As with our earlier reports of this nature, we did not audit the accompanying consolidated financial statements for the fiscal year ended September 30, 

1981; accordingly, we do not express an opi~;:~ 

Charles A. Bowsher 

Comptroller General 

of the United States 
,, 

Introduction 

During.the past.year the.following-changes have been made in·the report: the "Financial· · 

Statements of the U.S. Government Restated for General Price-Level Changes" schedule and the 

related narrative have been revised using the Consumer Price Index for All Urban Consumers 

(CPI-U) as suggested in Financial Accounting Standards Board Statement No. 33, "Financial 

Reporting and Changing Prices''; and the "Estimated Interest Subsidy on Direct Loans Outstanding" schedule and. the related narrative have been deleted. 

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. 

Once again, the accrued pension liability for the military and civil service retirement plans has 

been included in this report. As annual pension reports are received from other plans covered by 

Public Law 9~595, their pension liability amounts will also be included in the report. In addition, 

during the year, agencies for the first time were required to submit to Treasury and the Office of 

Management and Budget data on the status of accounts and loans receivable due from the public. 

This data is currently being analyzed by Treasury and will be reported in future year reports. 

5 ' 
• 

Consolidated Financial Statements 
8 

United States Government Consolidated Statement 

of Financial Position as of September 30, 1981 and 1980 

[In billions] 

Assets 

( What the Government owns-resources that are available 

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

1981 1980 

Cash and monetary reserves 

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

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

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

Receivables (net of allowances) 

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

Accrued taxes 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 ....................................... . 

$18.7 

19.7 

21.5 

59.9 

14.4 

23.6 

185.5 

6.1 

$21.0 

16.8 

16.6 

54.4 

11.0 

26.0 

159.7 

10.6 

229.6 207.3 

24.1 

1.4 

3.5 

65.6 

19.1 

113.7 

12.5 

130.0 

209.4 

81.2 

32.4 

3.1 

468.6 

(231.3) 

237.3 

49.8 

$690.3 

21.0 

1.1 

3.6 

47.9 

14.5 

88.1 

12.1 

122.0 

189.5 

57.3 

28.3 

2.5 

411.7 

(204.0) 

207.7 

32.5 

$590.0 

The accompanying notes are an integral part of this statement. 
United States Government Con$olidated Statement 

of Financial Position as of September 30, · 1981 and 1980 

[In billions] 

Liabilities 

( What the Government owes-liabilities incurred in the 

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

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

Unearned revenue ............................... : . 

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

Accrued pension, retirement, and disability plans 

· (Note 11) 

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

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 ............ . 

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

Current noncash provision for social security 

(Note 13) .................. ..................... . 

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

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

1981 

$97.8 

22.8 

784.4 

377.8 

464.4 

1,430.0 

192.7 

9.9 

2,474.8 

7.6 

59.5 

3,446.9 

(2,491.9) 

(76.3) 

(188.4) 

{2,756.6} 

· $690.3 

The accompanying notes are an integral part of this statement. 

401-120~ .- 83 - 2 

1980 

$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) 

(142.4) 

(179.8) 

{2,491.9} 

$590.0 

9 
10 

United States Government Consolidated Statement of Operations for 

the Years Ended September 30, 1981 and 1980 

[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 .................... · .. . 

1981 1980 

$285.6 

58.7 

186.4 

40.8 

6.8 

8.1 

16.8 

. 603.2 

26.8 

19.6 

35.9 

82.3 

685.5 

4.0 

7.2 

1.2 

8.6 

25.6 

11.1 

12.9 

13.6 

4.9 

70.0 

42.6 

52.8 

156.4 

31.0 

58.3 

78.4 

22.1 

120.2 

14.4 

20.2 

6.3 

761.8 

$(76.3) 

$244.1 

63.9 

160.7 

24.3 

6.4 

7.2 

15.1 

521.7 

19.9 

13.9 

32.1 

65.9 

587.6 

3.6 

3.7 

6.9 

8.0 

27.5 

7.8 

12.2 

17.7 

5.2 

61.6 

56.1 

75.9 

127.5 

31.8 

52.4 

59.9 

19.5 

110.1 

15.1 

19.0 

8.5 

730.0 

$(142.4) 
Summary of expenses by object and agency 

1981 1980 

Expenses by object 

Salaries and employee benefits ................... . $104.8 $96.4 

Vendor services and supplies ..................... . 129.7 111.9 

Depreciation .................................... . 27.3 23.6 

Pensions, health and life insurance ................ . 128.3 168.8 

Casualty insurance and indemnities ............... . 171.3 152.7 

Grants, subsidies, and contributions ............... . 122.0 116.7 

Interest ........................................ . 78.4 59.9 

Total ....................................... . 761.8 730.0 

Expenses by agency 

Legislative branch ............................... . 1.3 1.2 

Judicial branch ................................. . .7 .6 

Executive branch 

Office of the President ......................... . 17.3 15.2 

Departments 

Agriculture ................................. . 63.1 52.9 

Commerce ................................. . 3.2 4.4 

Defense .................................... . 168.8 177.0 

Education .................................. . 15.7 12.8 

Energy ..................................... . 11.6 7.6 

Health and Human Services .................. . 237.9 197.6 

Housing and Urban Development ............. . 18.9 15.7 

· Interior ..................................... . 3.6 4.1 

Justice ..................................... . 3.7 4.4 

Labor ...................................... . 31.2 31.4 

State ...................................... . 2.3 2.5 

Transportation .............................. . 23.5 21.4 

Treasury: Interest ........................... . 78.4 59.9 

Other ............................. . 10.1 13.3 

Independent agencies ......................... . 70.5 108.0 

Total ....................................... . $761.8 $730.0 

The accompanying notes are an integral part of this statement. 

11 
12 

United States Government Consolidated Statement 

of Changes in Financial Position 

for the Years Ended September 30, 1981 and 1980 

[In billions] 

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

Sources of funds: 

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

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

Net increase in borrowing ..... : .................. . 

Depreciation ............................... : .... . 

Provision for accrued pension, retirement, and 

disability plans ................................ . 

Provision for loss reserves for guarantee and 

insurance programs ........................... . 

Increase in liabilities ............................. . 

Total sources of funds ........................ · 

Uses of funds: 

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

Purchase of property and equipment .............. . 

Increase in receivables ........................... . 

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

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

Reduction in provision for loss reserves for 

guarantee and insurance programs .............. . 

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

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

1981 

$54.4 

603.2 

82.3 

75.5 

27.3 

80.9 

21.3 

944.9 

761.8 

56.9 

22.3 

25.6 

17.3 

1 .1 

885.0 

$59.9 

The accompanying notes are an integral part of this statement. 

1980 

$49.9 

521.7 

65.9 

69.5 

23.6 

129.5 

6.4 

14.9 

881.4 

730.0 

49.8 

29.2 

13.5 

4.5 

827.0 

$54.4 
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 1980 data are reclassified 

where appropriate to conform to the financial statement presentation for fiscal 1981. 

2. International monetary reserves 

This category, as of September 30, 1981, 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; $3.9 billion of special drawing rights, an international reserve 

asset; and $4.6 billion representing the U.S. reserve 

position in the International Monetary Fund. 

3. Accrued taxes receivable 

The September 30, 1981, total for taxes receivable 

represents $17 .5 billion (net) for delinquent taxes and 

$6.1 billion of accrued corporate taxes. 

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 17.9 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, 1981, total for inventories comprises $89.8 billion 

for the Department of Defense and $23.9 billion for 

other agencies. The amounts as of September 30, 

1980, were $65.8 billion and $22.3 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 land, and the 684 million acres of 

public domain land, 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 acreage owned by the Federal Government) to be $29.9 billion. 

7. Buildings, structures, and facilities 

This category 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, 1981, 

total represents $51.3 billion for the Department of 

Defense and $78.7 billion for other agencies. The 

amounts as of September 30, 1980, were $50.0 billion and $72.0 billion, respectively. 

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 as 

follows: 

13 
Military hardware 

Aircraft and related 

equipment ................ . 

Ships and service craft ....... . 

Combat and tactical vehicles .. . 

Missiles and related 

1981 1980 

[In billions] 

$82.6 $75.4 

63.8 59.8 

38.0 34.8 

equipment . . . . . . . . . . . . . . . . . 21 .4 15.9 

Other ........................ __ 3_._6 3.6 

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

Equipment 

Department of Defense 

Industrial plant equipment. ... 

Communications and 

electronics .............. . 

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

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

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

9. Accumulated depreciation 

$209.4 $189.5 

$26.3 $24.2 

2.9 2.3 

4.7 3.7 

33.9 30.2 

47.3 27.1 

$81.2 

======= 

$57.3 

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-SO 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, 1981, the gross amount of 

Federal debt outstanding net of unamortized premiums and discounts was $994.3 billion. This 

amount is reduced by $209.9 billion for intragovernmental holdings. The amount of Federal debt outstanding net of unamortized premiums and discounts, as of September 30, 1980, was $908.5 billion. 

This amount was reduced by $199.6 billion for intragovernmental holdings. As of September 30, 1981, 

foreign and international investors held approximately $135.5 billion of the debt outstanding with the 

public, The amount as of September 30, 1980, was 

$126 billion. For additional information on borrowing 

from the public, see the Federal Debt Maturity schedule in the supplemental section (page 31 ). 

11. Accrued pension, retirement, and disability 

plans 

The accounting for accrued pension, retirement, 

and disability plans is subject to several different 

14 

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, 1981, 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 32 ). 

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. 

For additional information on loss reserves for 

guarantee and insurance programs, seethe Commitments and Contingencies of the U.S. Government 

schedule in the supplemental section (page 30). 

13. 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 $188.4 billion in 1981. 

14. 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 

$2,221.9 billion as of September 30, 1981. 

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 guarantees. Loan guarantees in force at September 30, 

1981, are $363.0 billion. For further information on· 

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

supplemental section (page 30). 

15. 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 1981 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 ....... . 

Public-assistance-related 

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

1981 

[In billions] 

$143.2 

40.5 

19.5 

4.7 

3.5 

3.0 

59.3 

20.8 

294.5 

Net interest . . . . . . . . . . . . . . . . . . . . · 68. 7 

General revenue sharing. . . . . . . . . 5.1 

Other open-ended programs and 

fixed costs . . . . . . . . . . . . . . . . . 8.1 

Total. . . . . . . . . . . . . . . . . . . . . $376.4 

15 
401-120 0 - 83 - 3 

,. 

Alternative 

Financial Statement Formats 

. i. 
18 

United States Government 

Consolidated Statement of Selected Current Assets and Liabilities 

as of September 30, 1981 and 1980 

[In billions] 

Current Assets 

( What the Government owns-resources that approximate amounts 

available to pay liabilities or to provide public service in the next year) 

1981 

Cash and monetary reserves 

Operating cash in the Treasury ................... . $18.7 

International monetary reserves ................... . 19.7 

Other cash ..................................... . 21.5 

59.9 

Receivables (net of allowances) 

Accounts receivable ............................. . 14.4 

Accrued taxes receivable ......................... . 23.6 

Loans receivable ................................ . 29.9 

Advances and prepayments ....................... . 6.1 

74.0 

Total: Current assets ......................... . $133.9 

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 ....... . 

$97.8 

398.3 

213.2 

709.3 

$575.4 

1980 

$21.0 

16.8 

16.6 

54.4 

11.0 

26.0 

25.2 

10.6 

72.8 

$127.2 

$81.6 

384.5 

185.2 

651.3 

$524.1 
United States Government 

Consolidated Statement of Other Assets 

as of September 30, 1981 and 1980 

[In billions] 

(Resources that generally would not be liquidated 

to finance operations in the next year) 

1981 1980 

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

Inventories (at cost) 

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

Work in 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 .......................... . 

$155.6 

24.1 

1.4 

3.5 

65.6 

19.1 

$134.5 

21.0 

1.1 

3.6 

47.9 

14:5 

113.7 88.1 

12.5 

130.0 

209.4 

81.2 

32.4 

3.1 

468.6 

(231.3) 

237.3 

49.8 

$556.4 

12.1 

122.0 

189.5 

57.3 

28.3 

2.5 

411.7 

(204.0) 

207.7 

32.5 

$462.8 

19 
20 

United States Government 

Consolidated Statement of Other Liabilities 

as of September 30, 1981 and 1980 

[In billions] 

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

1981 

Unearned revenue ................................ . $22.8 

Borrowing fror:n the public .......................... . 386.1 

Accrued pension, retirement, and disability plans 

Military personnel ............................... . 362.2 

Civilian employees .............................. . 444.4 

Social security .................................. . 1,266.2 

Veterans compensation .......................... . 179.0 

Federal employees compensation ................. . 9.8 

2,261.6 

Loss reserves for guarantee and insurance programs 7.6 

Other liabilities .................................... . 59.5 

• Total: Other liabilities ........................ . $2,737.6 

1980 

$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 
United States Government 

Consolidated Statement of Changes in the 

Operating Cash Balance 

for the Years Ended September 30, 1981 and 1980 

[In billions] 

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

Sources of cash: 

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

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

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 9/30/81 ..... , .......... . 

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

Current 

$398.3 

384.5 

1981 

$21.0 

602.6 

79.3 

702.9 

660.5 

21.0 

2.7 

684.2 

$18.7 

Other 

$386.1 

324.4 

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

Adjustment for deferred discounts and premiums, 

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

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

1980 

$24.2 

520.0 

70.5 

614.7 

579.0 

14.2 

.5 

593.7 

$21.0 

Total 

$784.4 

708.9 

75.5 

3.8 

$79.3 

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. 

21 
Supplemental Schedules 
24 

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 1983 Budget of the U.S. Government prepared by the Office of Management and Budget. It presents actual and projected 

1982-85 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 conventions 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 1983 Budget. Outlay estimates indicate the degree to which resources would 

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

1985. 

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. This 

restatement generally follows the Financial Accounting Standards Board Statement No. 33, 

"Financial Reporting and Changing Prices." 

Derived from the Consumer Price Index for All Urban Consumers (CPI-U), the average 

conversion factors used here are: fiscal 1981-1.039 and fiscal 1980-1.041. Monetary assets 

and liabilities as of September 30, 1981, 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. 

25 
26 

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 

30, 1981, for all Government-financed plans. Amounts for social security, military personnel, 

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

Financial Position. The third part of this schedule provides 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 resolved-as many as 38 separate plans might be included. GAO has 

developed instructions regarding the information to be contained, and the format to be used, 

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

schedule for 1981. 

VIII 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, 1981-85 

Cash receipts 

Taxes 

[In billions] 

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 1983. 

1981 

Actual 

$285.9 

61.1 

163.0 

15.8 

4.0 

40.8 

6.8 

8.1 

34.0 

---1.Q:..!_ 

4.7 

5.6 

3.9 

9.4 

31.4 

10.3 

4.6 

6.4 

6.9 

66.0 

225.1 

82.5 

11.1 

159.8 

13.5 

23.3 

23.0 

687.5 

(57.9) 

..J£!:Ql 

1982 1983 1984 1985 

------- Estimate-------

$298.6 

46.7 

185.5 

16.5 

4.5 

43.0 

7.1 

8.9 

39.6 

~ 

658.3 

4.5 

8.6 

(.6) 

3.3 

8.4 

27.8 

6.4 

5.1 

6.9 

6.4 

73.4 

250.9 

99.1 

11.1 

187.5 

12.6 

21.2 

24.2 

756.8 

(98.5) 

~ 

$304.5 

65.3 

199.5 

18.5 

4.5 

41.6 

5.9 

9.4 

42.3 

· 18.0 

4.6 

4.5 

(1.3) 

1.6 

7.3 

21.6 

4.2 

5.0 

7.7 

6.7 

78.1 

261.7 

112.5 

12.0 

221.1 

9.9 

19.6 

24.3 

(91.6) 

~ 

$(107.3) 

$322.9 

83.7 

216.7 

21.0 

4.5 

41.5 

5.4 

9.8 

47.4 

18.0 

770.9 

4.6 

5.1 

(.2) 

1.3 

6.7 

19.3 

3.8 

5.2 

7.8 

6.8 

84.9 

274.8 

116.2 

12.3 

253.0 

8.4 

18.8 

25.6 

854.4 

(83.5) 

~ 

$362.0 

88.2 

245.5 

22.7 

4.5 

40.8 

5.1 

10.1 

49.3 

18.0 

846.2 

4.5 

4.6 

(.4) 

(.5) 

6.9 

17.8 

3.8 

4.9 

7.4 

7.1 

93.5 

290.1 

119.7 

13.0 

292.1 

7.7 

19.4 

26.9 

918.5 

(72.3) 

..J.!.-1..Ql 

27 
SCHEDULE II 

Financial Statements of the U.S. Government 

Restated for General Price-Level Changes 

(Restated to September 30, 1981, Dollars) 

[In billions] 

Financial position 

Assets 

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 ............................................................ . 

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 ........................................................................... . 

28 

1981 1980 '

Sept. 30 Sept. 30 

$59.9 $60.3 

229.6 229.9 

118.1 101.7 

330.4 319.5 

64.3 49.0 

$802.3 $760.4 

$97.8 $90.5 

29.9 25.6 

784.4 786.2 

2,474.8 2,445.9 

9.4 11.2 

59.5 66.2 

3,455.8 3,425.6 

(2,665.2) (2,653.0) 

207.4 195.4 

(195.7) (207.6) 

(2,653.5) (2,665.2) 

$802.3 $760.4 

$626.7 $628.3 

85.5 77.6 

712.2 705.9 

4.2 4.4 

7.5 4.5 

1.3 8.3 

8.9 9.6 

26.6 33.0 

11.5 9.3 

13.4 14.7 

14.1 21.2 

5.1 6.2 

72.7 74.0 

354.4 412.9 

81.4 71.9 

23.0 23.4 

124.9 132.2 

15.0 18.1 

21.0 22.8 

6.5 10.3 

791.5 876.8 

286.7 366.3 

$207.4 $195.4 
Income exclusion 

SCHEDULE Ill 

Effect of Individual and Corporate Tax Benefits on Federal Revenues 

for Tax Years 1981 and 1980 

[In billions] 

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

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

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

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

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

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

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

Other (age 55 or over credit on home sales) ............................................................ . 

Income deferrals 

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

Real estate {home sales) ............................................. . 

Foreign earnings (domestic international sales corμorations) ...................................................... . 

Other deferrals 

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

Deductions and credits 

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

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

Earned income ..................................... _. ....................................................... • 

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

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

Exemptions (credit unions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .............. . 

Foreign earnings (corporations doing business in U.S. possessions) .' .............................................. . 

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

Investments (commercial capital gains, credits, other investment incentives, construction period interest, and expensing 

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

Medical .................................................................................... •.••••••••••••••·· 

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

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

Other {deductions of motor carrier rights, certain adoption expenses, and energy credit for intercity buses) ............. . 

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

State and local property tax and other taxes ........................... : ........................................ . 

Work incentives (employment credits under work programs) and dependent care .................................... . 

Source: Budget of the United States Government, Fiscal Year 1983. 

*Less than $100 million. 

Estimated amount 

of revenue loss 

1981 1980 

$3.4 $4.8 

56.9 38.3 

.1 .4 

1.0 3.4 

19.5 11.6 

19.2 12.1 

5.7 · 3.6 

.6 .6 

.5 .1 

1.6 1.7 

2.8 

.1 .1 

1.2 .1 

10.9 8.8 

.7 .7 

1.7 .7 

.4 .5 

8.0 

2.1 

29.4 20.4 

71.5 45.7 

3.7 3.2 

1.7 1.0 

3.4 4.5 

.1 

1.1 .5 

28.6 22.0 

2.0 1.3 

29 
Commitments 

Long-term contracts 

SCHEDULE IV 

Commitments and Contingencies 

of the U.S. Government 

as of September 30, 1981 

[In billions] 

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 ...................................................................................................... . 

Total commitments .......................................................................................... . 

Contingencies 

Government loan and credit guarantees 

Housing ............................................................... . 

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

Business loan and investment fund ....................................... . 

Farm ownership ........................................................ . 

Rural development ..................................................... . 

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

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

Veterans benefits ...................................................... . 

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

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

Insurance in force 

Federal Deposit Insurance Corp ......................................... . 

Federal Savings and Loan Insurance Corp ................................ . 

Federal Emergency Management Agency ................................. . 

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

National Credit Union Administration ...................................... . 

Veterans Administration ................................................. . 

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

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

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

Unadjudicated claims 

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

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

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

Other contingencies 

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

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

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

Total contingencies ........................................ . 

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

"Less than $100 million. 

30 

Contingent liability 

(maximum risk 

exposure) 

$183.3 

6.7 

11.3 

24.2 

40.3 

8.1 

2.7 

48.9 

37.5 

363.0 

952.4 

505.2 

346.3 

90.5 

51.6 

31.9 

230.7 

13.3 

2,221.9 

4.0 

28.9 

32.9 

8.2 

6.0 

14.2 

$2,632.0 

Ratio of 

losses incurred 

to premiums 

written 

0.07% 

3.68 

.87 

.42 

8.74 

.02 

.01 

.08 

.50 

21.02 

.49 

Amounts 

outstanding 

$4.5 

2.5 

10.7 

3.5 

21.2 

.1 

20.9 

59.3 

6.2 

23.3 

252.6 

22.5 

11.9 

39.8 

3.2 

439.8 

$461.0 

Loss 

reserves 

$0.1 

.4 

.2 

.2 

3.3 

4.2 

.2 

.2 

.2 

.2 
Marketable 

Bills ......... .. ····················· Notes .. ....... ··················· 

Bonds .................... .......... 

Non marketable 

Foreign government series ........... 

Government account series .. 

U.S. savings bonds .................. 

Other 

Other 

Agency securities ...... ............ 

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

Net borrowing from the public 

Current period ...................... 

Prior period ..... ............ 

Net increase .......................... 

SCHEDULE V 

Federal Debt Maturity 

as of September 30, 1981 

[In billions] 

Average 

interest Within 

Total rate 1 1-5 

debt (percent) year years 

$215.0 15.781 $215.0 

362.3 11.408 92.4 $228.2 

~ 9.171 2.1 4.1 

~ 

--- --- 9.862 ~ 232.3 ---

20.5 8.751 8.8 11.4 

1.8 7.407 .9 

68.0 7.107 7.1 3.5 

114.1 

23.8 ~ 

~ 16.8 14.9 

4.6 5.946 .2 

1.2 

____§J! 5.946 .2 ---

784.4 326.5 247.2 

708.9 ~ 199.6 

~ ---~ 

---

---

~ 

SCHEDULE VI 

Additions to Non-Federal 

Economic Resources 

Maturity 

5-10 10-20 

years years 

$41.7 

5.6 $35.1 

47.3 35.1 

.3 

.9 

10.7 

--- 11.9 ---

1.2 .3 

1.2 .3 

60.4 35.4 

$3.2 

57.2 ~ 

---

~ 

for the Years Ended September 30, 1981-83 

[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 1983. 

1981 

Actual 

$5.5 

4.2 

11.4 

.5 

__ .2_ 

~ 

.7 

4.3 

5.5 

12.5 

4.7 

.5 

5.4 

7.6 

7.8 

.4 

.5 

49.9 

$71.7 

1982 

$5.4 

4.4 

10.7 

.5 

__ .2_ 

21.2 

.8 

4.2 

5.2 

12.7 

4.4 

.5 

5.2 

8.0 

4.3 

.3 

__ .5_ 

__§J_ 

$67.3 

20 

years or 

longer Various 

$40.3 

40.3 

$46.7 

23.8 

70.5 

2.9 

1.2 

4.1 

40.3 74.6 

31.1 75.4 

$9.2 $(.8) 

1983 

Estimate 

$4.5 

3.5 

10.5 

.4 

__ .2_. 

~ 

.8 

2.9 

4.4 

10.6 

3.5 

.5 

5.2 

8.5 

2.3 

.3 

.4 

~ 

$58.5 

31 
SCHEDULE VII 

Analysis of Pension and Retirement Plans 

· as of $eptember 30, 1981 

[In billions] 

Liabilities 

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

Add: 

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

Deduct: 

Benefits paid .............................................................. : . 

Accrued liability, September 30, 1981 ............................................. . 

Accrued liability, September 30, 1981 ............................................. . 

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, 1981 ........................ . 

Social 

security 

$1,241.7 

333.0 

144.7 

$1,430.0 

$1,430.0 

1,168.7 

1,140.7 

28.0 

$1,402.0 

Military 

Military 

personnel 

$348.9 

42.6 

13.7 

$377.8 

$377.8 

$377.8 

Civilian 

employees 

$430.3 

48.8 

14.7 

$464.4 

$464.4 

208.8 

124.7 

84.1 

$380.3 

Other 

NIA 

NIA 

NIA 

NIA 

NIA 

NIA 

NIA 

NIA 

NIA 

Social security personnel Civilian employees Other --- Number Percent of Contribution 

of years taxable rate 

covered payroll Amount Amount (percent) Amount Amount 

Projected cash receipts and 

disbursements 

Cash receipts 

1981 ................................ 10.81 $138.4 7 $28.3 NIA 

1982-1985 ........................... 4 10.94 761.8 7 134.1 NIA 

1986-1995 ........................... 10 12.39 4,367.8 7 526.6 NIA 

1996-2005 ........................... __ 1_0_ 13.85 10,050.5 7 927.8 NIA --- Subtotal ........................... 25 15,318.5 1,616.8 NIA 

2006-2030 ........................... 25 14.16 76,364.0 7 5,855.1 NIA 

2031-2055 

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

........................... 25 8.78 

278,725.4 

187,042.9 7 

30,008.9 

22,537.0 ~ 

NIA 

Cash disbursements 

1981 ................................ 1 11.33 144.7 $13.9 18.1 NIA 

1982-1985 ........................... 4 11.17 774.8 71.8 94.6 NIA 

1986-1995 ........................... 10 10.62 3,679.1 288.3 400.3 NIA 

1996-2005 ........................... __ 1_0_ 10.40 7,471.9 506.6 706.5 NIA 

Subtotal ........................... 25 12,070.5 880.6 1,219.5 NIA 

2006-2030 ........................... 25 13.83 80,585.3 4,576.2 NIA 

2031-2055 ........................... 25 17.00 397,697.1 18,943.3 NIA --- Total ............................... 490,352.9 880.6 24,739.0 NIA 

Net receipts or (disbursements) .......... $(211,627.5) $(880.6) $5,269.9 NIA 

= 

Plan year 

1981 1980 1979 1978 1977 1976 1975 1974 1973 1972 

Beneficiaries 

Number receiving benefits (thousands) 

Social security : ............................ . 36,006 35,619 35,125 34,587 34,084 33,024 32,085 30,854 29,872 28,345 

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

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

1,346 1,306 1,263 1,220 1,175 1,129 1,070 1_,007 946 890 

1,780 1,675 1,637 1,583 1,508 1,432 1,372 1,306 . 1,192 1,092 

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

Average monthly benefits (dollars) 

Social security ............................. . 337 297 258 229 211 194 179 162 143 137 

Military personnel. .......................... . 860 766 713 626 583 539 486 424. 387 364 

Civilian employees .......................... . 822 784 608 604 527 495 439 366 308 276 

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

NIA Not available. 

32 
Gross national product 

SCHEDULE VIII 

Federal Facts and Figures 

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

Per capita .. : ............................................................. . 

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

Per capita ......................................... · ....................... . 

Population (in.cludes 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) ................................................ . 

~~mcl~P ............................................................. . 

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

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

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

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

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

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 ......................................................... . 

$10,000-$15,999 ............................................................ . 

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

$16,00o-$24,999 ............................................................ . 

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

$25,000-$49,999 ............................................................ . 

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

$50,000-$99,999 ............................................................ . 

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

$100,000-$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 ..................................................... . 

NIA Not available. 

Unit of 

measure 1981 

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 

2,965 

12,875 

1,516 

6,582 

230.3 

279.3 

.36 

106.2 

98.3 

2.1 

2.8 

4.6 

1,003.9 

513.2 

784.4 

26.5 

3,406 

401.0 

78.4 

340.4 

2.6 

10.29 

40.1 

761.8 

25.7 

3,308 

2,463 

83.1 

10,693 

1,259 

83.1 

5,466 

NIA 

NIA 

407.8 

86.5 

21.2 

407.8 

142.1 

34.8 

U.S. GOVERNMENT PRINTING OFFICE 

1980 1979 

2,637 2,395 

11,814 10,848 

1,472 1-;434 

6,593 6,496 

223.2 220.8 

251.9 223.7 

.40 .45 

105.0 .103.5 

97.2 97.5 

2.1 2.1 

2.8 2.8 

5.0 5.0 

914.3 833.8 

510.3 499.3 

708.9 639.4 

26.9 26.7 

3,175 2,896 

395.6 382.9 

59.9 48.3 

268.3 218.7 

2.3 2.0 

8.2 7.4 

33.4 28.9 

730.0 652.2 

27.7 27.2 

3,270 2,954 

2,206 1,959 

83.6 81.8 

9,880 8,870 

1,231 1,173 

83.6 81.8 

5,514 5,312 

1.2 1.4 

18,343 19,340 

7.1 7.5 

14,363 15,451 

21.1 20.9 

16,617 16,796 

45.4 44.3 

17,784 17,977 

96.3 78.4 

17,707 14,962 

39.3 29.7 

2,530 1,878 

33.8 27.7 

542 442 

4.1 4.0 

4 4 

348.0 410.7 

80.8 73.3 

23.2 17.8 

348.0 410.7 

124.4 81.2 

35.7 19.8 

33 

1983 0 - 401-120 

DEPARTMENT OF THE TREASURY 

FISCAL SERVICE 

BUREAU OF GOVERNMENT FINANCIAL OPEl'lATIONS 

WASHINGTON, D.C. 20226 

OFFICIAL BUSINESS 

PENALTY FOR PRIVATE USE, $300 

# 

POSTAGE AND FEES PAID 

DEP"'RTMENT OF THE TREASURY 

TREAS 553 U.S.MAIL 

® 

r