U.S. COMMODITY FUTURES TRADING COMMISSION

Three Lafayette Centre

1155 21st Street, NW, Washington, DC 20581

Telephone: (202) 418-5110

Page 1 of 2 

TO: Heath P. Tarbert, Chairman 

Brian D. Quintenz, Commissioner 

Rostin Behnam, Commissioner 

Dawn Stump, Commissioner 

Dan Berkovitz, Commissioner 

 

FROM: Miguel A. Castillo, CPA, CRMA

Assistant Inspector General for Auditing 

 

DATE: November 13, 2020

 

SUBJECT: CFTC Financial Statements Audit: Fiscal Year (FY) 2020 

Annually the Office of the Inspector General (OIG) engages an independent 

public accountant (IPA) to perform a required audit of the Commodity Futures 

Trading Commission’s (CFTC) financial statements. We contracted Allmond & 

Company, LLC (Allmond & Co.) to audit the financial statements of the CFTC 

as of September 30, 2020, and for the year then ended, to provide negative 

assurance on internal control and compliance with laws and regulations for 

financial reporting. We required that the audit be done in accordance with U.S. 

Generally Accepted Government Auditing Standards (GAGAS). 

In its audit, Allmond & Co. found: 

• The financial statements were fairly presented, in all material respects, in 

conformity with U.S. Generally Accepted Accounting Principles; 

• No deficiencies in internal control over financial reporting that are 

considered to be material or significant; and 

• One reportable instance of noncompliance (and potential Anti-Deficiency) 

pending completion of an internal management review. CFTC did not freeze 

the pay of certain senior official pursuant to an FY 2014 government wide 

appropriation provision that has remained in each subsequent 

appropriation including its FY 2018 appropriation. During FY 2020, there 

were no employees who fell into this category. 

In a separate management letter, Allmond & Co. also highlighted improvements 

needed in maintaining time and attendance records and made several 

recommendations. The matter was informative and not considered to be a 

:OIG OFFI CE O f THE 

INSPECTOR GENERAL 

111.1111 CFTC 
Page 2 of 2 

material weakness or significant deficiency. Management did not concur with 

the recommendations. 

In connection with the contract, we reviewed Allmond & Company’s report and 

related documentation and inquired of its representatives. Our review, as 

differentiated from an audit of the financial statements in accordance with 

GAGAS, was not intended to enable us to express, and we do not express, 

opinions on CFTC’s financial statements or internal control over financial 

reporting, or conclusions on whether CFTC’s financial management systems 

substantially complied with FFMIA requirements, or on compliance with laws 

and other matters. Allmond & Co. is responsible for the attached auditor’s 

report dated November 6, 2020 and the conclusions expressed therein. 

However, our review disclosed no instances where Allmond & Co. did not 

comply, in all material respects, with GAGAS. 

Attached is a copy of Allmond & Co.’s unmodified (clean) opinion and 

management letter, and the financial statements of the CFTC. Please call me if 

any questions at (202) 418-5084. 

Cc: 

Jamie Klima, Chief of Staff 

Kevin S. Webb, Chief of Staff 

John Dunfee, Chief of Staff 

Daniel Bucsa, Chief of Staff 

Erik Remmler, Chief of Staff 

Anthony C. Thompson, Chief Management Officer 

Joel Mattingley, Chief Financial Officer 

Keith A. Ingram, Accounting Officer 

John Rogers, Senior Advisor 

A. Roy Lavik, Inspector General 

Judith A. Ringle, Deputy Inspector General and Chief Counsel 
1

Independent Auditors’ Report

Chairman and Inspector General of

U.S. Commodity Futures Trading Commission:

Report on the Financial Statements

We have audited the accompanying financial statements of the U. S. Commodity Futures Trading 

Commission (CFTC), which comprise the balance sheets as of September 30, 2020 and 2019; the related 

statements of net cost, changes in net position, custodial activity, and budgetary resources for the fiscal 

years then ended, and the related notes to the financial statements (hereinafter referred to as the financial 

statements). 

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in 

accordance with accounting principles generally accepted in the United States of America ; this 

responsibility includes the design, implementation, and maintenance of internal control relevant to the

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

due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on the fiscal years 2020 and 2019 financial statements of 

CFTC based on our audits. We conducted our audits in accordance with auditing standards generally 

accepted in the United States of America; the standards applicable to financial audits contained in 

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

Management and Budget (OMB) Bulletin No. 19-03, Audit Requirements for Federal Financial 

Statements. Those standards and OMB Bulletin No. 19-03 require that we plan and perform the audit to 

obtain reasonable assurance about whether the financial statements are free from material misstatement. 

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

the financial statements. The procedures selected depend on the auditors' judgment, including the 

assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. 

In making those risk assessments, the auditor considers internal control relevant to the entity's preparation 

and fair presentation of the financial statements in order to design audit procedures that are appropriate in 

the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity' s 

internal control. Accordingly, we express no such opinion. 

An audit also includes evaluating the appropriateness of the accounting policies used and the 

reasonableness of significant accounting estimates made by management, as well as the overall 

presentation of the financial statements.

ALLMOND & COMPANY, LLC 

750 I FORBES BOULEVARD, SUITE 200 

LANHAM , MARYLAND 20706 

CERTIFIED PUBLIC ACCOUNTANTS 

(30 I l 9 18-8200 

FACSIMILE (30 I) 9 I 8 -820 I 
Independent Auditors’ Report

2

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

our audit opinion.

Opinion

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

financial position of the U.S. Commodity Futures Trading Commission as of September 30, 2020 and

2019, and its net costs of operations, changes in net position, custodial activity, and budgetary resources 

for the fiscal years then ended in accordance with accounting principles generally accepted in the United 

States of America.

Other Matter

Required Supplementary Information

U.S. generally accepted accounting principles require that the information in the Message from the 

Chairman, Management and Discussion Analysis section, and Other Accompanying Information section 

of this report is presented to supplement the basic financial statements. Such information, although not a 

part of the basic financial statements, is required by the Federal Accounting Standards Advisory Board. 

We have applied certain limited procedures, which consisted principally of inquiries of management 

regarding the methods of preparing the information and comparing the information for consistency with 

management’s responses to our inquiries, the basic financial statements, and other knowledge we 

obtained during our audit of CFTC’s financial statements. However, we did not audit this information 

and, accordingly, we express no opinion on it.

Other Reporting Required by Government Auditing Standards

Internal Control over Financial Reporting

In planning and performing our audit of CFTC’s financial statements as of and for the year ended 

September 30, 2020, in accordance with generally accepted government auditing standards, we 

considered CFTC’s internal control over financial reporting as a basis for designing audit procedures that 

are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, 

but not for the purpose of expressing an opinion on the effectiveness of CFTC's internal control over 

financial reporting. Accordingly, we do not express an opinion on the effectiveness of CFTC's internal 

control over financial reporting. We limited internal control testing to those necessary to achieve the 

objectives described in OMB Bulletin No. 19-03. We did not test all internal control relevant to operating 

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

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

management or employees, in the normal course of performing their assigned functions, to prevent, or 

detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of 

deficiencies, such that there is a reasonable possibility that a material misstatement of the entity's 

financial statements will not be prevented, or detected and corrected, on a timely basis. A significant 

deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a 

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

Our consideration of internal control over financial reporting was for the limited purpose as described in 

the first paragraph of this section and was not designed to identify all deficiencies in internal control over 
Independent Auditors’ Report

3

financial reporting that might be material weaknesses or significant deficiencies and therefore material 

weaknesses or significant deficiencies may exist that were not identified. Given these limitations, during 

our fiscal year 2020 audit we did not identify any deficiencies in internal control over financial reporting 

that we considered to be material weaknesses, as defined above. However, material weaknesses may exist 

that have not been identified. 

Compliance and Other Matters

As part of obtaining reasonable assurance about whether CFTC’s fiscal year 2020 financial statements are 

free of material misstatements, we performed tests of CFTC’s compliance with certain provisions of 

applicable laws, regulations, contracts, and grant agreements, which noncompliance could have a direct 

and material effect on the determination of material amounts and disclosures in CFTC’s financial 

statements, and certain provisions of other laws specified in OMB Bulletin No. 19-03. However, 

providing an opinion on compliance with those provisions was not an objective of our audit, and 

accordingly, we do not express such an opinion.

The results of our tests of compliance as described in the preceding paragraph, disclosed an instance of 

noncompliance or other matters that are required to be reported herein under Government Auditing 

Standards or OMB Bulletin No. 19-03 and which is described in Exhibit I.

Purpose of the Other Reporting Required by Government Auditing Standards

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

Standards section is solely to describe the scope of our testing of internal control and compliance with 

selected provision of applicable laws, regulations, contracts, and grant agreements, and the results of that 

testing, and not to provide an opinion on the effectiveness of CFTC's internal control or on compliance. 

This communication is an integral part of an audit performed in accordance with U.S. generally accepted 

government auditing standards in considering internal controls and compliance with laws, regulations, 

contracts, and grant agreements which could have a material effect on CFTC’s financial statements. 

Accordingly, this communication is not suitable for any other purpose.

Allmond & Company, LLC

November 6, 2020

Lanham, MD
Independent Auditors’ Report

Exhibit I

Compliance and Other Matters

4

Potential Anti-deficiency Act (ADA) violation

One management review is ongoing within the agency, which has or may identify an ADA violation, as 

follows:

 In FY 2014, CFTC did not freeze the pay of certain senior officials pursuant to an FY 2014

government wide appropriation provision that has remained in each subsequent appropriation

through FY 2018 appropriation. This issue is under management review. 

Title 31 U.S. Code (U.S.C.) Section 1517 Prohibited Obligations and Expenditures states:

(a) An officer or employee of the United States Government or of the District of Columbia 

government may not make or authorize an expenditure or obligation exceeding –

(1) An apportionment; or

(2) The amount permitted by regulations prescribed under section 1514(a) of this title.

(b) If an officer or employee of an executive agency or of the District of Columbia government 

violates subsection (a) of this section, the head of the executive agency or the Mayor of the

District of Columbia, as the case may be, shall report immediately to the President and Congress 

all relevant facts and a statement of actions taken. A copy of each report shall also be transmitted 

to the Comptroller General on the same date the report is transmitted to the President and 

Congress.

Recommendation: We recommend that CFTC’s management complete the investigation into the potential 

ADA violation noted and report to the appropriate parties, as necessary.

MANAGEMENT’S RESPONSE

Management concurs with the recommendation.
Independent Auditors’ Report

Exhibit I

Status of Prior Year Findings and Recommendations

5

The following table provides the fiscal year (FY) 2019 status of all recommendations included in the 

Independent Auditors' Report on the Commodity Futures Trading Commission’s FY 2019 Financial 

Statements (November 7, 2019).

FY 2020

Finding

FY 2020 Recommendation FY 2020

Status

Potential

AntiDeficiency Act 

Violation

Recommendation: 

Complete the investigation into the potential ADA violation noted and 

report to the appropriate parties, as necessary.

Open
1 

MANAGEMENT LETTER REPORT 

Chairman and Inspector General of 

U.S. Commodity Futures Trading Commission: 

 We audited the U.S. Commodity Futures Trading Commission (CFTC) financial statement as of 

September 30, 2020 and 2019 and issued our report dated November 6, 2020 to CFTC under separate 

cover. 

In planning and performing our audit, we considered CFTC’s internal controls to determine 

auditing procedures for the purpose of expressing an opinion on the financial statements and not to 

provide assurance on the internal controls. Though not considered to be a material weakness or significant 

deficiency, we noted additional matters involving internal control that is presented in this letter for 

CFTC’s management’s attention and consideration. 

 The purpose of this report is solely for the information and use of CFTC management. We 

appreciate your assistance and cooperation during the audit and look forward to serving you in the near 

future. 

Sincerely, 

Allmond & Company, LLC

Lanham, MD 

November 6, 2020 

ALLMOND & COMPANY, LLC 

750 I FORBES BOULEVARD, SUITE 200 

LANHAM , MARYL.ANO 20706 

CERTIFIED PUBLIC ACCOUNTANTS 

(30 I ) 91 8 -8200 

FACSIMIL E (30 I ) 9 I 8-820 I 
Management Letter Report 

2 

Allmond & Company audited the balance sheet of the U.S. Commodity Futures Trading 

Commission (CFTC) as of September 30, 2020 and 2019, and the related statements of net cost, changes 

in net position, and budgetary resources for the fiscal years then ended; and the related notes to the 

financial statements (the consolidated financial statements). We noted one matter involving internal 

control in CFTC’s operations that we think warrant management’s attention; however, this issue was not 

considered either a significant deficiency or a material weakness. 

 Under standards issued by the American Institute of Certified Public Accountants, a deficiency in 

internal control exists when the design or operation of a control does not allow management or 

employees, in the normal course of performing their assigned functions, to prevent, or detect and correct 

misstatement on a timely basis. A material weakness is a deficiency, or combination of deficiencies, such 

that there is a reasonable possibility that a material misstatement of the entity’s financial statements will 

not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency or a 

combination of deficiencies, in internal control that is less severe than a material weakness yet important 

enough to merit the attention by those charged with governance. However, we noted the following 

deficiency during our audit: 

1. Improvements needed in maintaining Time and Attendance records. This condition is discussed in detail 

in the finding outlined below: 

FINDING 1: Improvements Needed in Maintaining Time and Attendance Records 

CONDITION 

Improvements are needed in CFTC’s procedures for submitting and approving Time and Attendance 

records. During our review of eighty-nine Time and Attendance (T&A) records for the period October 

01, 2019 to September 30, 2020, we identified the following test-work exception: 

One instance where 40 hours of vacation leave was taken without written Requests for Leave and Approval 

to support the leave taken on the employee T&A report. 

CRITERIA 

1. Section IV. D, Responsibility of Employees, of the Commodity Futures Trading Commission (CFTC) 

Instruction 461-1, Revision 3, Absence Leave Directive, states: 

Employees who wish to take annual leave are required to obtain approval from their immediate 

supervisor in advance: 

1. For substantial amounts of leave, the notification should be well in advance of the desired 

period of leave in order that the supervisor may make proper arrangements to cover the 

employee's work. 

2. In emergency situations when it is not possible to get advance permission, employees 

must notify their supervisors as soon as possible. 

3. The supervisor will determine whether the absence is justified and either approve or 

disapprove the leave. 

. 
Management Letter Report 

3 

2. The Office of Personnel and Management (OPM) Fact Sheet: Annual Leave (General Information) states: 

“Employees should request annual leave in a timely manner, and supervisors should provide timely 

responses to employees' requests. 

When an employee makes a timely request for leave, the supervisor must either approve the request 

or schedule the leave at the time requested by the employee or, if that is not possible because of 

project related deadlines or the agency's workload, must schedule it at some other time.”:

3. The FY 2020 CFTC Human Resources Cycle Memo in Section E. iv. states: “In advance of their sick 

or annual leave, employees may submit a leave request electronically in webTA. There are many 

different means an employee can request and a supervisor can approve a request for leave 

given today’s technology (e.g., phone call, text message, e-mail, forms). Every pay period, 

employees attest that the timecard is accurate when validating and supervisors certify that the 

timecard is accurate and both are accountable for their attestation and certification. 

For each sick or annual leave request, the employee’s supervisor approves the requests in a variety of 

formats and certifies that the timecard is accurate. 

4. The Government Accountability Office (GAO) Internal Control Standards GAO-03-352G T&A 

Guidance (Maintaining Effective Control over Employee Time and Attendance Reporting) states: The 

supervisor has primary responsibility for authorizing and approving T&A transactions. Supervisors 

and timekeepers should be aware of the work time and absence of employees for whom they are 

responsible. To help ensure proper recording of T&A information, completed T&A records should be 

reviewed and approved on an appropriate basis by the supervisor (or other equivalent official). It 

further states that the nature and extent of T&A approvals should be such that management has 

assurance that supervisors or other authorized officials know they are accountable for the approval of 

an employee’s work time and absences. Supervisory authorization and approval is a key part of 

ensuring the propriety of T&A information. The supervisor or other authorized official should review 

and authorize employee’s planned work schedules and applications for leave, and review and approve 

employee submissions of actual time worked and leave taken, as well as information in T&A reports, 

and any adjustments or corrections to T&A records. Approval of leave should be made by the 

employee’s supervisor, or other designated approving official, before the leave is taken. 

5. The Government Accountability Office (GAO) 14-704G, Standards for Internal Control in the 

Federal Government, states: “Internal control and all transactions and other significant events need to 

be clearly documented, and the documentation should be readily available for examination. The 

documentation should appear in management directives, administrative policies, or operating manuals 

and may be in paper or electronic form. All documentation and records should be properly managed 

and maintained. 

CAUSE 

Supporting documentation was not provided that evidenced the employee submitted a Leave Request in 

any format that is required by CFTC and obtained supervisor approval before proceeding on the leave. 
Management Letter Report 

4 

EFFECT 

Failure to properly record time and attendance increases the risk of misstatements in payroll expense and 

related liabilities. 

RECOMMENDATION

We recommend that CFTC’s management: 

1. Review its current policies and procedures related to preparation, submission and approval of 

Requests for Leave to ensure that they are aligned with OPM’s and GAO’s requirements. 

2. Provide training to employees and supervisors on the process of preparing and approving Requests 

for Leave and how to verify that the leave that appears on the Time and Attendance Report has an 

accompanying approved leave request prior to approving employees’ T&A’s in webTA. 

3. Coordinate with the service provider to enable the Time and Attendance system to prevent the 

supervisors from being able to approve T&A’s when a Validation Warning appears on the T&A 

report 

MANAGEMENT RESPONSE 

Management does not concur with the recommendation.

AUDITORS’ RESPONSE 

We will conduct follow-up procedures in FY 2021 to determine whether corrective actions have been 

developed and implemented. 
Prepared by:

CFTC Accounting Office

Version - 02

Statement Run Date: 10/22/2020 9:07:28 AM

FY 2020

Financial Statements and Notes

as of and for the Years Ended 

September 30, 2020 and 2019

111:.iilCFTC 

COMMODITY FUTURES TRADING COMMISSION 
Commitment ⋆ Forward-Thinking ⋆ Teamwork ⋆ Clarity 

 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

The foll

Financial Highlights

owing chart is an overview of the Commission’s financial position, preceding a discussion of 

the agency’s financial highlights for fiscal year 2020: 

2020 2019

 CONDENSED BALANCE SHEETS

Fund Balance with Treasury $ 103,929,404 $ 86,407,483

Investments 117,000,000 141,300,000

Accounts Receivable, Net 52,632 54,582

Prepayments 5,347,975 5,693,295

Custodial Receivables, Net 623,333,958 51,364,449

General Property, Plant and Equipment, Net 25,096,671 29,738,196

 TOTAL ASSETS $ 874,760,640 $ 314,558,005

Accounts Payable $ 8,202,137 $ 21,419,590

FECA Liabilities 597,032 564,109

Accrued Payroll and Annual Leave 26,182,754 19,885,383

Custodial Liabilities 623,333,958 51,364,449

Deposit Fund Liabilities 514,025 445,754

Deferred Lease Liabilities 18,650,707 21,494,054

Liability for Whistleblower Awards 3,627,027 20,280,146

 Total Liabilities $ 681,107,640 $ 135,453,485

Unexpended Appropriations - All Other Funds $ 86,262,124 $ 58,465,701

Cumulative Results of Operations - Funds from Dedicated Collections 117,027,972 125,439,162

Cumulative Results of Operations - All Other Funds (9,637,096) (4,800,343)

 Total Net Position $ 193,653,000 $ 179,104,520

 TOTAL LIABILITIES AND NET POSITION $ 874,760,640 $ 314,558,005

 CONDENSED STATEMENTS OF NET COST

Gross Costs $ 301,322,839 $ 301,553,671

Earned Revenue (37,373) (248,915)

 TOTAL NET COST OF OPERATIONS $ 301,285,466 $ 301,304,756

 NET COST BY STRATEGIC GOAL

Goal One - Market Integrity and Transparency $ 71,313,241 $ 67,476,123

Goal Two - Financial Integrity and Avoidance of Systemic Risk 96,045,472 90,364,976

Goal Three - Comprehensive Enforcement 119,182,541 129,854,799

Goal Four - Domestic and International Cooperation and Coordination 14,744,212 13,608,858

 TOTAL NET COST OF OPERATIONS $ 301,285,466 $ 301,304,756

Figure 1: Financial Summary
Commitment ⋆ Forward-Thinking ⋆ Teamwork ⋆ Clarity 

 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 1

PRINCIPAL FINANCIAL STATEMENTS

Commodity Futures Trading Commission

BALANCE SHEETS

As of September 30, 2020 and 2019 

ASSETS

Intragovernmental:

Fund Balance With Treasury (Note 2) $ 103,929,404 $ 86,407,483

Investments (Note 3) 117,000,000 141,300,000

Accounts Receivable, Net (Note 4) - 1,167

Prepayments (Note 1H) 3,150,153 2,663,914

Total Intragovernmental 224,079,557 230,372,564

Custodial Receivables, Net (Note 4) 623,333,958 51,364,449

Accounts Receivable, Net (Note 4) 52,632 53,415

General Property, Plant and Equipment, Net (Note 5) 25,096,671 29,738,196

Prepayments (Note 1H) 2,197,822 3,029,381

TOTAL ASSETS $ 874,760,640 $ 314,558,005

LIABILITIES

Intragovernmental:

Accounts Payable $ 532,641 $ 436,014

Custodial Liabilities 623,333,958 51,364,449

Employer Contributions and Payroll Taxes Payable 2,091,621 1,432,636

FECA Liabilities (Note 1N) 88,501 85,660

Total Intragovernmental 626,046,721 53,318,759

Accounts Payable 7,669,496 20,983,576

Actuarial FECA Liabilities (Note 1N) 508,531 478,449

Accrued Payroll 8,299,576 5,779,774

Annual Leave 15,791,557 12,672,973

Deferred Lease Liabilities (Note 7) 18,650,707 21,494,054

Liability for Whistleblower Awards (Note 8) 3,627,027 20,280,146

Deposit Fund Liabilities 514,025 445,754

Total Liabilities $ 681,107,640 $ 135,453,485

Contingent Liabilities (Note 9)

NET POSITION

Unexpended Appropriations - All Other Funds $ 86,262,124 $ 58,465,701

Cumulative Results of Operations - Funds from Dedicated Collections 117,027,972 125,439,162

Cumulative Results of Operations - All Other Funds (9,637,096) (4,800,343)

 Total Net Position - Funds from Dedicated Collections (Note 12) 117,027,972 125,439,162

 Total Net Position - All Other Funds 76,625,028 53,665,358

Total Net Position $ 193,653,000 $ 179,104,520

TOTAL LIABILITIES AND NET POSITION $ 874,760,640 $ 314,558,005

The accompanying notes are an integral part of these financial statements.

2020 2019

-
Commitment ⋆ Forward-Thinking ⋆ Teamwork ⋆ Clarity 

 2 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

Commodity Futures Trading Commission

STATEMENTS OF NET COST

For the Years Ended September 30, 2020 and 2019

2020 2019

NET COST BY GOAL

GOAL ONE: MARKET INTEGRITY AND TRANSPARENCY

Gross Costs $ 71,322,207 $ 67,538,202

Less: Earned Revenue (8,966) (62,079)

NET COST OF OPERATIONS -- GOAL ONE $ 71,313,241 $ 67,476,123

GOAL TWO: FINANCIAL INTEGRITY AND AVOIDANCE OF SYSTEMIC RISK

Gross Costs $ 96,057,547 $ 90,448,114

Less: Earned Revenue (12,075) (83,138)

NET COST OF OPERATIONS -- GOAL TWO $ 96,045,472 $ 90,364,976

GOAL THREE: COMPREHENSIVE ENFORCEMENT

Gross Costs $ 119,197,019 $ 129,945,977

Less: Earned Revenue (14,478) (91,178)

NET COST OF OPERATIONS -- GOAL THREE $ 119,182,541 $ 129,854,799

GOAL FOUR: DOMESTIC AND INTERNATIONAL COOPERATION AND COORDINATION

Gross Costs $ 14,746,066 $ 13,621,378

Less: Earned Revenue (1,854) (12,520)

NET COST OF OPERATIONS -- GOAL FOUR $ 14,744,212 $ 13,608,858

GRAND TOTAL

Gross Costs $ 301,322,839 $ 301,553,671

Less: Earned Revenue (37,373) (248,915)

TOTAL NET COST OF OPERATIONS $ 301,285,466 $ 301,304,756

The accompanying notes are an integral part of these financial statements.

-
Commitment ⋆ Forward-Thinking ⋆ Teamwork ⋆ Clarity 

 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 3

Commodity Futures Trading Commission

STATEMENTS OF CHANGES IN NET POSITION

For the Years Ended September 30, 2020 and 2019 

2020

UNEXPENDED APPROPRIATIONS:

BEGINNING BALANCES, OCTOBER 1 (Note 1X) $ - $ 61,509,442 $ 61,509,442

BUDGETARY FINANCING SOURCES:

Appropriations Received - 315,000,000 315,000,000

Other Adjustments (+/-) - (8,956,084) (8,956,084)

Appropriations Used - (281,291,234) (281,291,234)

 Total Budgetary Financing Sources - 24,752,682 24,752,682

TOTAL UNEXPENDED APPROPRIATIONS, SEPTEMBER 30 $ - $ 86,262,124 $ 86,262,124

CUMULATIVE RESULTS OF OPERATIONS:

BEGINNING BALANCES, OCTOBER 1 $ 125,439,162 $ (4,800,343) $ 120,638,819

BUDGETARY FINANCING SOURCES:

Appropriations Used - 281,291,234 281,291,234

Nonexchange Interest Revenue (Note 3) 1,082,980 - 1,082,980

OTHER FINANCING SOURCES:

Imputed Financing Sources (Note 1M) - 5,663,309 5,663,309

 Total Financing Sources 1,082,980 286,954,543 288,037,523

Net Cost of Operations (9,494,170) (291,791,296) (301,285,466)

Net Change (8,411,190) (4,836,753) (13,247,943)

TOTAL CUMULATIVE RESULTS OF OPERATIONS, SEPTEMBER 30 $ 117,027,972 $ (9,637,096) $ 107,390,876

NET POSITION $ 117,027,972 $ 76,625,028 $ 193,653,000

UNEXPENDED APPROPRIATIONS:

BEGINNING BALANCES, OCTOBER 1 $ - $ 47,626,826 $ 47,626,826

BUDGETARY FINANCING SOURCES:

Appropriations Received - 268,000,000 268,000,000

Other Adjustments (+/-) - (4,032,357) (4,032,357)

Appropriations Used - (253,128,768) (253,128,768)

 Total Budgetary Financing Sources - 10,838,875 10,838,875

TOTAL UNEXPENDED APPROPRIATIONS, SEPTEMBER 30 $ - $ 58,465,701 $ 58,465,701

CUMULATIVE RESULTS OF OPERATIONS:

BEGINNING BALANCES, OCTOBER 1 $ 158,337,598 $ (783,772) $ 157,553,826

BUDGETARY FINANCING SOURCES:

Appropriations Used - 253,128,768 253,128,768

Nonexchange Interest Revenue (Note 3) 3,206,457 - 3,206,457

OTHER FINANCING SOURCES:

Imputed Financing Sources (Note 1M) - 8,054,524 8,054,524

 Total Financing Sources 3,206,457 261,183,292 264,389,749

Net Cost of Operations (36,104,893) (265,199,863) (301,304,756)

Net Change (32,898,436) (4,016,571) (36,915,007)

TOTAL CUMULATIVE RESULTS OF OPERATIONS, SEPTEMBER 30 $ 125,439,162 $ (4,800,343) $ 120,638,819

NET POSITION $ 125,439,162 $ 53,665,358 $ 179,104,520

The accompanying notes are an integral part of these financial statements.

2019

Dedicated 

Collections

All Other

Funds

Consolidated 

Total

Dedicated 

Collections

All Other

Funds

Consolidated 

Total

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 4 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

Commodity Futures Trading Commission

STATEMENTS OF BUDGETARY RESOURCES

For the Years Ended September 30, 2020 and 2019 

BUDGETARY RESOURCES

 Unobligated Balance from Prior Year Budget Authority, Net (Note 10A) $ 28,143,967 $ 23,928,531

 Appropriations 315,000,000 268,000,000

 Spending Authority from Offsetting Collections 1,031,801 3,216,362

TOTAL BUDGETARY RESOURCES $ 344,175,768 $ 295,144,893

STATUS OF BUDGETARY RESOURCES

 New Obligations and Upward Adjustments $ 296,591,524 $ 268,029,495

 Unobligated Balance, End of Year

Apportioned, Unexpired Accounts 143,318,572 142,982,838

Unapportioned, Unexpired Accounts (103,626,536) (126,714,806)

Unexpired Unobligated Balance, End of Year 39,692,036 16,268,032

Expired Unobligated Balance, End of Year 7,892,208 10,847,366

 Unobligated Balance, End of Year (Total) 47,584,244 27,115,398

TOTAL BUDGETARY RESOURCES $ 344,175,768 $ 295,144,893

OUTLAYS, NET

Outlays, Net $ 315,934,006 $ 260,156,840

Distributed Offsetting Receipts (5,106) (14,569)

AGENCY OUTLAYS, NET $ 315,928,900 $ 260,142,271

The accompanying notes are an integral part of these financial statements.

2020 2019

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 5

Commodity Futures Trading Commission

STATEMENTS OF CUSTODIAL ACTIVITY

For the Years Ended September 30, 2020 and 2019 

2020 2019

TOTAL CUSTODIAL REVENUE

SOURCES OF CASH COLLECTIONS:

 Registration and Filing Fees $ 1,165,011 $ 2,243,849

 Fines, Penalties, and Forfeitures 192,204,742 47,229,052

 General Proprietary Receipts 5,106 14,569

Total Cash Collections 193,374,859 49,487,470

Change in Custodial Receivables 571,969,509 39,867,274

TOTAL CUSTODIAL REVENUE $ 765,344,368 $ 89,354,744

DISPOSITION OF COLLECTIONS

AMOUNTS TRANSFERRED TO:

 Department of the Treasury $ (193,374,859) $ (49,487,470)

Total Disposition of Collections (193,374,859) (49,487,470)

Change in Custodial Liabilities (571,969,509) (39,867,274)

NET CUSTODIAL ACTIVITY $ - $ -

The accompanying notes are an integral part of these financial statements.

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 6

NOTES TO THE FINANCIAL STATEMENTS 

As of and for the Fiscal Years Ended September 30, 2020 and 2019

Note 1 Summary of Significant Accounting Policies

A. Reporting Entity

The Commodity Futures Trading Commission (CFTC or Commission) is an independent agency of 

the executive branch of the Federal Government. Congress created the CFTC in 1974 under the 

authorization of the Commodity Exchange Act (CEA) with the mandate to regulate commodity 

futures and option markets in the United States. The agency’s mandate was renewed and 

expanded under the Futures Trading Acts of 1978, 1982, and 1986; under the Futures Trading 

Practices Act of 1992; under the CFTC Reauthorization Act of 1995; under the Commodity Futures 

Modernization Act of 2000; and under the Dodd-Frank Wall Street Reform and Consumer 

Protection Act of 2010 (Dodd-Frank Act, or the Act). Congress passed the Food, Conservation, and 

Energy Act of 2008, which reauthorized the Commission through FY 2013. In the absence of 

formal reauthorization, the CFTC has continued to operate through annual appropriations. 

The CFTC is responsible for ensuring the economic utility of futures markets by encouraging their 

competitiveness and efficiency, ensuring their integrity, and protecting market participants against 

manipulation, abusive trade practices, and fraud.

On July 21, 2010, the Dodd-Frank Act was signed into law, significantly expanding the powers and 

responsibilities of the CFTC. According to Section 748 of the Act, there is established in the U.S. 

Department of the Treasury (Treasury) a revolving fund known as the CFTC Customer Protection 

Fund. The Customer Protection Fund shall be available to the Commission, without further 

appropriation or fiscal year limitation, for a) the payment of awards to whistleblowers; and b) the 

funding of customer education initiatives designed to help customers protect themselves against 

fraud or other violations of this Act or the rules and regulations thereunder.

B. Basis of Presentation 

 

The financial statements have been prepared to report the financial position and results of 

operations for the CFTC, as required by the Accountability of Tax Dollars Act of 2002. They are 

presented in accordance with the form and content requirements contained in OMB Circular A136, Financial Reporting Requirements, as amended. 

The principal financial statements have been prepared in all material respects from the agency’s 

books and records in conformity with U.S. generally accepted accounting principles (GAAP), as 

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 7

prescribed for the Federal government by the Federal Accounting Standards Advisory Board 

(FASAB). The application and methods for applying these principles are appropriate for fairly 

presenting the entity’s assets, liabilities, financial position, net cost of operations, changes in net 

position, budgetary resources, and custodial activities. Accounting standards allow certain 

presentations and disclosures to be modified, if needed, to prevent the disclosure of classified 

information. 

The books and records of the agency served as the source of information for preparing the financial 

statements in the prescribed formats. All agency financial statements and reports used to monitor 

and control budgetary resources are prepared from the same books and records. The statements 

should be read with the understanding that they are for a component of the U.S. Government, a 

sovereign entity.

The Balance Sheets present the financial position of the agency. The Statements of Net Cost 

present the agency’s operating results; the Statements of Changes in Net Position display the 

changes in the agency’s equity accounts. The Statements of Budgetary Resources present the 

sources, status, and uses of the agency’s resources and follow the rules for the Budget of the U.S.

Government. The Statements of Custodial Activity present the sources and disposition of 

collections for which the CFTC is the fiscal agent, or custodian, for the Treasury General Fund 

Miscellaneous Receipt accounts.

Throughout these financial statements, assets, liabilities, revenues and costs have been classified 

according to the type of entity with whom the transactions were made. Intragovernmental assets 

and liabilities are those from or to other federal entities. Intragovernmental earned revenues are 

collections or accruals of revenue from other federal entities, and intragovernmental costs are

payments or accruals to other federal entities. The CFTC does not transact business among its own 

operating units, and therefore, intra-entity eliminations were not needed. 

C. Budgetary Resources and Status 

 

The CFTC is funded through congressionally approved appropriations. The CFTC is responsible 

for administering the salaries and expenses of the agency through the execution of these 

appropriations. 

Congress annually enacts appropriations that provide the CFTC with the authority to obligate 

funds within the respective fiscal year for necessary expenses to carry out mandated program 

activities. All appropriations are subject to quarterly apportionment as well as Congressional 

restrictions.

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 8 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

The CFTC’s budgetary resources for FY 2020 consist of: 

 Unobligated balances of resources brought forward from the prior year, 

 Recoveries of obligations made in prior years, and 

 New resources in the form of appropriations and spending authority from offsetting 

collections. 

Unobligated balances associated with resources expiring at the end of the fiscal year remain 

available for five years after expiration only for upward adjustments of prior year obligations, after 

which they are canceled and may not be used. All unused monies related to canceled 

appropriations are returned to Treasury and the canceled authority is reported on the Statements 

of Budgetary Resources and the Statements of Changes in Net Position.

D. Entity and Non-Entity Assets 

Assets consist of entity and non-entity assets. Entity assets are those assets that the CFTC has 

authority to use for its operations. Non-entity assets are those held by the CFTC that are not 

available for use in its operations. Non-entity assets held by the CFTC include deposit fund 

balances, custodial fines, interest, penalties, and administrative fees receivable. 

E. Fund Balance with Treasury 

Fund Balance with Treasury is the aggregate amount of the CFTC’s funds with Treasury in general, 

receipt, revolving, and deposit fund accounts. Appropriated funds recorded in general fund 

expenditure accounts are available to pay current liabilities and finance authorized purchases. 

Custodial collections recorded in the deposit fund and miscellaneous receipts accounts of the 

Treasury are not available for agency use. At fiscal year-end, receipt account balances are returned 

to Treasury or transferred to the Customer Protection Fund.

The CFTC does not maintain bank accounts of its own, has no disbursing authority, and does not 

maintain cash held outside of Treasury. Treasury disburses funds for the agency on demand. 

Spending authority from offsetting collections is recorded in the agency’s expenditure account and 

is available for agency use subject to certain limitations. 

F. Investments

The CFTC has the authority to invest amounts deposited in the Customer Protection Fund in shortterm market-based Treasury securities. Market-based Treasury securities are debt securities that 

the Treasury issues to Federal entities without statutorily determined interest rates. Although the 

securities are not marketable, the terms (prices and interest rates) mirror the terms of marketable 

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 9

Treasury securities. Investments are carried at their historical cost basis which approximates fair 

value due to their short-term nature.

Interest earned on the investments is a component of the Fund and is available to be used for 

expenses of the Customer Protection Fund. Additional details regarding Customer Protection Fund 

investments are provided in Note 3. 

G. Accounts Receivable, Net 

Accounts receivable consists of amounts owed by other federal agencies and the public to the CFTC 

and is valued net of an allowance for uncollectible amounts. The allowance is based on past 

experience in the collection of receivables and analysis of the outstanding balances. Accounts 

receivable primarily arise from the Civil Monetary Sanctions program, reimbursable operations, 

and earned refunds. 

H. Prepayments

Payments to federal and non-federal sources in advance of the receipt of goods and services are

recorded as prepayments and recognized as expenses when the related goods and services are 

received. Intragovernmental prepayments reported on the Balance Sheet were made primarily to 

the U.S. Department of Interior for contract support. Prepayments to the public were primarily for 

software maintenance and subscription services.

I. General Property, Plant and Equipment, Net

Furniture, fixtures, equipment, information technology hardware and software, and leasehold 

improvements are capitalized and depreciated or amortized over their useful lives. 

The CFTC capitalizes assets annually if they have useful lives of at least two years and an individual 

value of $25,000 or more. Bulk or aggregate purchases are capitalized when the individual useful 

lives are at least two years and the purchase is a value of $25,000 or more. Property, plant and 

equipment that do not meet the capitalization criteria are expensed when acquired. Depreciation 

for equipment and amortization for software is computed on a straight-line basis using a 5-year 

life. Leasehold improvements are amortized over the remaining life of the lease. The Commission’s 

assets are valued net of accumulated depreciation or amortization.

J. Liabilities

The CFTC’s liabilities consist of actual and estimated amounts that are likely to be paid as a result 

of transactions covered by budgetary resources for which Congress has appropriated funds or 

funding, or are otherwise available from reimbursable transactions to pay amounts due. 

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10 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

Liabilities include those covered by budgetary resources in existing legislation, those not requiring 

budgetary resources, and those not yet covered by budgetary resources. The CFTC liabilities not 

requiring budgetary resources include deferred lease liabilities, deposit funds, and custodial 

revenue deemed collectible but not yet collected at fiscal year-end. Liabilities that are not yet 

covered by budgetary resources but will require budgetary resources in the future include: 

 Intragovernmental Federal Employees’ Compensation Act (FECA) liabilities, 

 Annual leave benefits that will be funded by annual appropriations as leave is taken,

 Actuarial FECA liabilities,

 Liability for whistleblower awards,

 Contingent liabilities, and

 Advances received for reimbursable services yet to be provided. 

K. Accounts Payable 

Accounts payable consists primarily of contracts for goods or services, such as operating leases, 

leasehold improvements, software development, information technology, telecommunications, and 

consulting and support services. 

L. Accrued Payroll and Benefits and Annual Leave Liability 

The accrued payroll liability represents amounts for salaries and benefits owed for the time since 

the payroll was last paid through the end of the reporting period. Total accrued payroll is 

composed of amounts to be paid to CFTC employees as well as the related intragovernmental 

payable for employer contributions and payroll taxes. The annual leave liability is the amount 

owed to employees for unused annual leave as of the end of the reporting period. At the end of 

each quarter, the balance in the accrued annual leave account is adjusted to reflect current 

balances and pay rates. Sick leave and other types of non-vested leave are expensed as taken.

The agency’s employees participate in the Civil Service Retirement System (CSRS) or the Federal 

Employees’ Retirement System (FERS). On January 1, 1987, FERS went into effect pursuant to 

Public Law 99-335. Most employees hired after December 31, 1983, are automatically covered by 

FERS and Social Security. Employees hired prior to January 1, 1984, could elect to either join 

FERS and Social Security or remain in CSRS.

For employees under FERS, the CFTC contributes an amount equal to one percent of the 

employee’s basic pay to the tax deferred Thrift Savings Plan and matches employee contributions 

up to an additional four percent of pay. FERS and CSRS employees can contribute a portion of 

their gross earnings to the plan up to Internal Revenue Service limits; however, CSRS employees 

receive no matching agency contribution.

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 11

M. Retirement Plans and Other Employee Benefits

The CFTC imputes costs and the related financing sources for its share of retirement benefits 

accruing to its past and present employees that are in excess of the amount of contributions from 

the CFTC and its employees, which are mandated by law. The Office of Personnel Management 

(OPM), which administers federal civilian retirement programs, provides the cost information to 

the CFTC. The CFTC recognizes the full cost of providing future pension and Other Retirement 

Benefits (ORB) for current employees as required by Statement of Federal Financial Accounting 

Standards (SFFAS) 5, Accounting for Liabilities of the Federal Government. 

Full costs include pension and ORB contributions paid out of the CFTC’s appropriations and costs 

financed by OPM. The amount financed by OPM is recognized as an imputed financing source. 

Reporting amounts such as plan assets, accumulated plan benefits, or unfunded liabilities, if any, 

is the responsibility of OPM.

Liabilities for future pension payments and other future payments for retired employees who 

participate in the Federal Employees Health Benefits Program and the Federal Employees Group 

Life Insurance Program are reported by OPM rather than CFTC. 

N. FECA Liabilities

FECA provides income and medical cost protections to covered federal civilian employees injured 

on the job, to employees who have incurred work-related occupational diseases and to 

beneficiaries of employees whose deaths are attributable to job-related injuries or occupational 

diseases. The FECA program is administered by the U.S. Department of Labor (DOL), which pays 

valid claims against the CFTC and subsequently seeks reimbursement from the CFTC for these 

paid claims. Accrued FECA liabilities represent amounts due to DOL for claims paid on behalf of 

the agency. 

In addition, the Commission’s actuarial FECA liability represents the liability for future workers 

compensation benefits, which includes the expected liability for death, disability, medical, and 

miscellaneous costs for approved cases. The Commission records an estimate for the FECA 

actuarial liability using the DOL’s FECA model. The model considers the average amount of 

benefit payments incurred by the Commission for the past three fiscal years, multiplied by the 

medical and compensation liability to benefits paid ratio for the whole FECA program. 

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12 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

O. Leases

The CFTC does not have any capital lease liabilities. The operating leases consist of commercial 

property for the CFTC’s headquarters and regional offices. Lease expenses are recognized on a 

straight-line basis. 

P. Deposit Funds

Deposit funds are expenditure accounts used to record monies that do not belong to the Federal 

government. They are held awaiting distribution based on a legal determination or investigation. 

The CFTC Deposit Fund is used to collect and later distribute collections of monetary awards to the 

appropriate victims as restitution. The cash collections recorded in this fund are offset by a Deposit 

Fund liability. Activities in this fund are not fiduciary in nature because they are not legally 

enforceable against the government. 

Q. Net Position 

 

Net position consists of unexpended appropriations and cumulative results of operations. 

Unexpended appropriations are appropriations that have not yet been used to acquire goods and 

services or provide benefits. Appropriations are considered expended, or used, when goods and 

services have been acquired by the CFTC or benefits have been provided using the appropriation 

authority, regardless of whether monies have been paid or payables for the goods, services, or 

benefits have been established. 

Cumulative results of operations represent the excess of budgetary or other financing sources over 

expenses since inception. Cumulative results of operations are derived from the net effect of 

capitalized assets, expenses, exchange revenue, and unfunded liabilities. 

R. Revenues 

The CFTC receives reimbursement and earns revenue for the following activities: 

 Reimbursement for travel, subsistence, and related expenses from non-federal sources for 

attendance at meetings or similar functions that an employee has been authorized to 

attend in an official capacity on behalf of the Commission; 

 Reimbursement for Intergovernmental Personnel Act Mobility Program assignments from 

state and local governments, institutions of higher education, and other eligible 

organizations for basic pay, supplemental pay, fringe benefits, and travel and relocation 

expenses; and 

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 13

 Reimbursement from non-federal sources for registration fees to cover the cost of 

expenses related to the CFTC's annual International Regulators Conference.

S. Net Cost of Operations 

Net cost of operations is the difference between the CFTC’s expenses and its earned revenue. The 

presentation of program results by strategic goals is based on the CFTC’s current Strategic Plan 

established pursuant to the Government Performance and Results Act of 1993 (GPRA). 

The mission statement of the CFTC is to protect market users and the public from fraud, 

manipulation, and abusive practices related to the sale of commodity and financial futures and 

options, and to foster open, competitive, and financially sound futures and option markets. For FY 

2020, the mission was accomplished through the following four strategic goals, each focusing on a 

vital area of regulatory responsibility:

 Goal 1: Market Integrity and Transparency. The focus of Market Integrity and 

Transparency is to recognize that derivatives markets provide a means for market users to 

offset price risks inherent in their businesses and to serve as a public price discovery 

mechanism. 

 Goal 2: Financial Integrity and Avoidance of Systemic Risk. The focus of Financial 

Integrity and Avoidance of Systemic Risk is to strive to ensure that Commission-registered 

derivatives clearing organizations, swap dealers, major swap participants, and futures 

commission merchants have the financial resources, risk management systems and 

procedures, internal controls, customer protection systems, and other controls necessary to 

meet their obligations so as to minimize the risk that the financial difficulty of any of these 

registrants, or any of their customers has systemic implications.

 Goal 3: Comprehensive Enforcement. Through the goal of Comprehensive Enforcement, 

the CFTC enforces the CEA and Commission regulations, and works to promote awareness of 

and compliance with these laws. 

 Goal 4: Domestic and International Cooperation and Coordination. Domestic and 

International Cooperation and Coordination focuses on how the Commission interacts with 

domestic and international regulatory authorities, market participants, and others affected by 

the Commission’s regulatory policies and practices. 

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14 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

To advance its mission goals and objectives, the CFTC will achieve Commission-wide excellence by 

empowering strong, enterprise-focused leaders, maintaining a high-performing and engaged 

workforce, and ensuring effective stewardship of resources.

T. Custodial Activity 

 

The CFTC collects penalties and fines levied against firms for violation of laws as described in the 

CEA as codified at 7 U.S.C. § 1, et seq, and the Commodities Futures Modernization Act of 2000, 

Appendix E of Public Law 106-554, 114 Stat. 2763. Unpaid fines, penalties and accrued interest are 

reported as custodial receivables, with an associated custodial liability. The receivables and the 

liability are reduced by amounts determined to be uncollectible. Revenues earned and the losses 

from bad debts are reported to Treasury. 

Collections made by the CFTC during the year are deposited and reported into designated Treasury 

miscellaneous receipt accounts for: 

 Registration and filing fees, 

 Fines, penalties and forfeitures, and 

 General proprietary receipts. 

At fiscal year-end, custodial collections made by the CFTC are either returned to Treasury or when 

determined eligible, transferred to the Customer Protection Fund. The CFTC does not retain any 

amount for custodial activities including reimbursement of the cost of collection. 

U. Use of Management Estimates 

 

The preparation of the accompanying financial statements in accordance with accounting 

principles generally accepted in the United States of America requires management to make 

certain estimates and assumptions that directly affect the results of reported assets, liabilities, 

revenues, expenses, and custodial activities. Actual results could differ from these estimates.

V. Reconciliation of Net Outlays and Net Cost of Operations 

In accordance with OMB Circular A-136, the Commission reconciles its budgetary outlays with its 

net cost of operations.

W. Funds from Dedicated Collections

The Customer Protection Fund was established to operate a whistleblower program and support 

customer education initiatives. See Note 1A for a description of the purpose of the Customer 

Protection Fund and its authority to use revenues and other financing sources. Deposits into the

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 15

Customer Protection Fund are credited from monetary sanctions collected by the Commission in a 

covered judicial or administrative action where the full judgment is in excess of $1,000,000 and 

the collection is not otherwise distributed to victims of a violation of the Dodd-Frank Act or the 

underlying rules and regulations, unless the balance of the Customer Protection Fund at the time 

the monetary judgment is collected exceeds $100 million. No new legislation was enacted as of 

September 30, 2020, that significantly changed the purpose of the fund or redirected a material 

portion of the accumulated balance. 

X. Cancellation of Deficient Fund Balance 

Following guidance from the U.S. Office of Management and Budget and the U.S. Department of 

the Treasury, the beginning balances of Unexpended Appropriations and Unobligated Balances 

differ from the prior year ending balance by $3,043,741 due to the cancellation of the 2013/2014 

salaries and expenses fund with a deficient fund balance as of September 30, 2019. This fund was 

deficient due to a transfer error that occurred in FY 2015.

Note 2 Fund Balance with Treasury 

A. Reconciliation to Treasury

There are no differences between the fund balances reflected in the CFTC Balance Sheets and the 

balances in the Treasury accounts.

B. Fund Balance with Treasury

Fund Balance with Treasury as of September 30, 2020, and 2019, consisted of the following:

2020 2019

Unobligated Fund Balance

 Available $ 26,998,826 $ 2,299,197

 Unavailable 7,904,486 10,821,543

Obligated Balance Not Yet Disbursed 68,512,067 72,840,989

Non-Budgetary Fund Balance with Treasury 514,025 445,754

TOTAL FUND BALANCE WITH TREASURY $ 103,929,404 $ 86,407,483

Obligated and unobligated balances reported for the status of Fund Balance with Treasury differ 

from the amounts reported in the Statement of Budgetary Resources due to the fact that budgetary 

balances are supported by amounts other than Fund Balance with Treasury. These amounts 

include Customer Protection Fund investments, uncollected payments from Federal sources, and

unfunded lease obligations. 

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16 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

Note 3 Investments 

The CFTC invests amounts deposited in the Customer Protection Funds in overnight short-term 

Treasury securities. Treasury overnight certificates of indebtedness are issued with a stated rate of 

interest to be applied to their par amount, mature on the business day immediately following their 

issue date, are redeemed at their par amount at maturity, and have interest payable at maturity. 

The overnight certificates are Treasury securities whose interest rates or prices are determined 

based on the interest rates or prices of Treasury-related financial instruments issued or trading in 

the market, rather than on the interest rates or prices of outstanding marketable Treasury 

securities. The Commission may invest in other short-term or long-term Treasury securities at 

management’s discretion.

The Commission’s investments as of September 30, 2020, and 2019, were $117,000,000 and 

$141,300,000, respectively. Related nonexchange interest revenue for the years ended September

30, 2020, and 2019, was $1,082,980 and $3,206,457, respectively. 

Intragovernmental Investments in Treasury Securities

The Federal Government does not set aside assets to pay future claims or other expenditures 

associated with funds from dedicated collections deposited into the Customer Protection Fund. 

The dedicated cash receipts collected by the Commission as a result of monetary sanctions are 

deposited in the Treasury, which uses the cash for general Government purposes. As discussed 

above and in Note 1F, the Commission invests the majority of these funds in Treasury securities. 

These Treasury securities are an asset of the Commission and a liability of the Treasury. Because 

the Commission and the Treasury are both components of the Government, these assets and 

liabilities offset each other from the standpoint of the Government as a whole. For this reason, the 

investments presented by the Commission do not represent an asset or a liability in the U.S. 

Government-wide financial statements.

Treasury securities provide the Commission with authority to draw upon the Treasury to pay 

future claims or other expenditures. When the Commission requires redemption of these securities 

to make expenditures, the Government finances those expenditures out of accumulated cash 

balances, by raising taxes or other receipts, by borrowing from the public or repaying less debt, or 

by curtailing other expenditures. This is the same manner in which the Government finances all 

expenditures.

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Note 4 Accounts Receivable, Net

Accounts receivable consist of amounts owed the CFTC by other Federal agencies and the public. 

Accounts receivable are valued at their net collectible values. Non-custodial accounts receivable 

are primarily for overpayments of expenses to other agencies, or vendors, and repayment of 

employee benefits. Historical experience has indicated that most of the non-custodial receivables 

are collectible and that there are no material uncollectible amounts.

Custodial receivables (non-entity assets) are those for which fines and penalties have been 

assessed and levied against businesses or individuals for violations of the CEA or Commission 

regulations. Violators may be subject to a variety of sanctions including fines, injunctive orders, 

bars or suspensions, rescissions of illegal contracts, and disgorgements.

An allowance for uncollectible accounts has been established and included in accounts receivable

on the balance sheets. Although historical experience has indicated that a high percentage of 

custodial receivables prove uncollectible, the Commission determines the collectability of each 

individual judgment based on knowledge of the financial profile of the debtor obtained through the 

course of the investigation and litigation of each case, including efforts to identify and freeze assets 

at the beginning of cases, when any remaining assets are most likely to be recoverable. Accounts 

are re-estimated quarterly based on account reviews and the agency’s determination that changes 

to the net realizable value are needed.

Accounts receivable, net consisted of the following as of September 30, 2020, and 2019: 

2020 2019

Civil Monetary Penalties, Fines, and Administrative Fees $ 770,558,920 $ 207,552,850

Civil Monetary Penalty Interest 1,683,400 1,942,550

Registration and Filing Fees 1,539,855 1,346,286

Less: Allowance for Loss on Penalties, Fines, and Administrative Fees (148,609,005) (157,522,132)

Less: Allowance for Loss on Interest (1,676,140) (1,932,727)

Less Allowance for Loss on Registration and Filing Fees (163,072) (22,378)

TOTAL CUSTODIAL RECEIVABLES, NET $ 623,333,958 $ 51,364,449

Other Accounts Receivable 52,632 54,582

TOTAL ACCOUNTS RECEIVABLE, NET $ 623,386,590 $ 51,419,031

Custodial Receivables, Net:

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Note 5 General Property, Plant and Equipment, Net 

Property, Plant and Equipment as of September 30, 2020, and 2019, consisted of the following:

2020

Major Class Service Life and Method Cost Net Book Value

Equipment 5 Years/Straight Line $ 42,630,427 $ (35,707,899) $ 6,922,528

IT Software 5 Years/Straight Line 29,742,235 (27,158,953) 2,583,282

Software in Development Not Applicable 5,370,715 - 5,370,715

Leasehold Improvements Remaining Life of Lease/Straight Line 31,292,870 (21,072,724) 10,220,146

TOTAL GENERAL PROPERTY, PLANT, AND EQUIPMENT, NET $ 109,036,247 $ (83,939,576) $ 25,096,671

2019

Major Class Service Life and Method Cost Net Book Value

Equipment 5 Years/Straight Line $ 41,114,736 $ (31,499,908) $ 9,614,828

IT Software 5 Years/Straight Line 29,684,602 (25,290,789) 4,393,813

Software in Development Not Applicable 3,170,786 - 3,170,786

Leasehold Improvements Remaining Life of Lease/Straight Line 31,292,870 (18,734,101) 12,558,769

TOTAL GENERAL PROPERTY, PLANT, AND EQUIPMENT, NET $ 105,262,994 $ (75,524,798) $ 29,738,196

Accumulated 

Amortization/ 

Depreciation

Accumulated 

Amortization/ 

Depreciation

Note 6 Liabilities not Covered by Budgetary Resources 

As of September 30, 2020, and 2019, the following liabilities were not covered by budgetary 

resources:

2020 2019

Liabilities Not Requiring Budgetary Resources:

 Intragovernmental - Custodial Liabilities $ 623,333,958 $ 51,364,449

 Deferred Lease Liabilities 18,650,707 21,494,054

 Deposit Fund Liabilities 514,025 445,754

Total Liabilities Not Requiring Budgetary Resources $ 642,498,690 $ 73,304,257

Other Liabilities Not Covered by Budgetary Resources:

 Intragovernmental - FECA Liabilities $ 88,501 $ 85,660

 Annual Leave 15,791,557 12,672,973

 Actuarial FECA Liabilities 508,531 478,449

 Liability for Whistleblower Awards 3,627,027 20,280,146

TOTAL LIABILITIES NOT COVERED BY BUDGETARY RESOURCES $ 662,514,306 $ 106,821,485

Liabilities not covered by budgetary resources of $662,514,306 and $106,821,485 represent 97.27

and 78.86 percent of the Commission’s total liabilities of $681,107,640 and $135,453,485 as of 

September 30, 2020, and 2019, respectively. 

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 19

Note 7 Leases 

The CFTC has operating leases in privately-owned buildings for its locations in Washington D.C., 

Chicago, New York, and Kansas City. The CFTC has no real property. Future estimated minimum 

lease payments are not accrued as liabilities and are expensed on a straight-line basis.

As of September 30, 2020, future estimated minimum lease payments continue through FY 2025 

and are as follows:

Fiscal Year

2021 21,312,686 

2022 20,088,229 

2023 17,880,606 

2024 18,239,105 

2025 18,603,371 

$ 96,123,997 

Future Lease-Related Operating Costs (Estimated) 7,502,539 

$ 103,626,536 

Total Future Scheduled Rent Payments

Dollars

TOTAL FUTURE MINIMUM LEASE PAYMENTS

The amounts in the table above include the future minimum lease payments for the Commission’s 

existing lease arrangements with non-federal parties described by location on the page below. In 

2016, the Commission executed a memorandum of understanding with the General Services 

Administration (GSA) to address all of CFTC’s future space needs. In its FY 2020 appropriation, 

the Commission received an additional $31,000,000 for move, replication, and related costs 

associated with replacement leases for the Commission’s facilities. As these new leases are 

executed by GSA, the Commission will incorporate these new intragovernmental leases into its 

future estimated lease payments.

CFTC recognizes leases expenses on a straight-line basis because the Commission’s lease payment 

amounts vary at negotiated times and reflect increases in rental costs, and in some cases, 

allowances or credits from landlords. Consistent with the utility of its office space, the Commission 

records deferred lease liabilities representing expense amounts in excess of payments to date. The 

deferred lease liabilities at September 30, 2020, and 2019, were $18,650,707 and $21,494,054, 

respectively. 

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20 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

The following table describes the Commission’s existing lease arrangements for buildings and 

multifunction devices, including major asset categories by location and associated lease terms.

BUILDINGS (NON-FEDERAL)

Location Lease Terms

Washington, D.C.

Lease of office space from October 5, 1995, through September 30, 2025,

subject to annual escalation amounts1 and including allowances for leasehold

improvements and rent offsets.

New York Lease of office space from November 16, 2001, through April 30, 2022, with no 

escalation clauses or option to renew.

Kansas City Lease of office space from April 1, 2011, through April 14, 2021, including

allowances for leasehold improvements and rent offsets.

Chicago

Lease of office space from March 10, 2002, through June 30, 2022, including 

proportionate share of operating expenses and taxes for premises and 

allowances for leasehold improvements and rent offsets.

1 If market rent were $100 per square foot with a 10 percent annual escalation and a $10 operating expense base, 

then 98 percent of the applicable market rent would be $98 per square foot with a 10 percent escalation and a $10 

operating base.

MULTIFUNCTION DEVICES (FEDERAL)

Location Lease Terms

Washington, D.C., New 

York, and Kansas City 

Two-year rental of multifunction printers through the U.S. Government 

Printing Office with three one-year options to renew.

Note 8 Liability for Whistleblower Awards 

As mentioned in Note 1A, the Customer Protection Fund will be used to pay awards to 

whistleblowers if they voluntarily provide original information to the CFTC that leads to the 

successful enforcement by the CFTC of a covered judicial or administrative action in which 

monetary sanctions exceeding $1 million are imposed. Whistleblowers are entitled to appeal any 

decisions by the Commission in regards to claims made against the Fund. 

At the time the whistleblower voluntarily provides information to CFTC, they have no guarantee or 

promise that the Commission will exchange funds in return for that information. In accordance 

with federal accounting standards, the Commission records liabilities for these nonexchange 

transactions when they are due and payable. The Commission therefore records a liability for 

pending whistleblower payment after the whistleblower has been formally notified of an award and 

the related sanction, or some portion thereof, has been collected. The liability will be paid when the 

appeal period has ended and the whistleblower has provided necessary banking information. As of 

September 30, 2020, and September 30, 2019, the Commission recorded liabilities for pending 

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 21

payments to whistleblowers of approximately $3,627,027 and $20,280,146, respectively. During 

FY 2020, the Commission disbursed $27,262,890 in whistleblower awards, which primarily 

consisted of approximately $20,261,000 from pending payments and $7,000,000 from accounts 

payable at the end of FY 2019. Accounts payable as of September 30, 2020, includes approximately 

$413,000 for awards that have been finalized as of the end of FY 2020.

In addition to the pending payments to whistleblowers, the Commission had 18 additional 

whistleblower claims currently under review as of September 30, 2020. These additional claims, 

depending on whether the whistleblowers are determined to be eligible for an award and the 

related sanctions have been collected, could result in total future payments ranging from $0 to 

$43,152,147.

Note 9 Contingent Liabilities 

The CFTC records contingent liabilities for legal cases in which payment has been deemed 

probable and for which the amount of potential liability has been estimated, including judgments 

that have been issued against the agency and which have been appealed. Additionally, the 

Commission discloses legal matters in which an unfavorable outcome is reasonably possible. In FY 

2020, the Commission was involved in one case where an unfavorable outcome is reasonably 

possible if the complainant proceeds to litigate. The potential loss in this case is estimated to be in 

excess of $63.0 thousand.

Note 10 Statements of Budgetary Resources 

The Commission corrected a violation of the recording statute in FY 2016 by recording its 

obligations for all future building lease payments in accordance with OMB Circular A-11. The 

recording of these previously unrecorded obligations resulted in negative unobligated balances in 

its salaries and expenses general expenditure funds because budgetary resources have not been 

made available to the Commission to fund these multi-year leases (see the Combining Statements 

of Budgetary Resources in the Required Supplementary Information section immediately following 

the notes). The effect on the status of the Commission’s budgetary resources and reconciliation to 

the U.S. Budget is detailed in the note disclosures below. 

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22 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

A. Net Adjustments to Unobligated Balance Brought Forward, October 1

The Unobligated Balance Brought Forward from the prior fiscal year has been adjusted for 

recoveries of prior year paid and unpaid obligations and other changes such as canceled authority. 

The Adjustments to Unobligated Balance Brought Forward, October 1, as of September 30, 2020,

and 2019, consisted of the following:

Unobligated Balance Brought Forward, October 1 $ 27,115,398 $ 23,072,180

Cancellation of Deficient Fund Balance (Note 1X) 3,043,741 -

Recoveries of Prior Year Obligations 6,940,912 4,888,708

Other Changes in Unobligated Balance (8,956,084) (4,032,357)

UNOBLIGATED BALANCE FROM PRIOR YEAR BUDGET AUTHORITY, NET $ 28,143,967 $ 23,928,531

2020 2019

B. Undelivered Orders

The amount of budgetary resources obligated for undelivered orders as of September 30, 2020, 

and 2019, consisted of the following:

2020 2019

Undelivered Orders - Federal

 Paid $ 3,150,153 $ 2,663,914

 Unpaid 12,922,345 5,889,053

 Total Undelivered Orders - Federal $ 16,072,498 $ 8,552,967

Undelivered Orders - Non-Federal

 Paid $ 2,197,822 $ 3,029,381

 Unpaid 140,635,202 165,034,743

 Total Undelivered Orders - Non-Federal $ 142,833,024 $ 168,064,124

TOTAL UNDELIVERED ORDERS $ 158,905,522 $ 176,617,091

The amount of undelivered orders represents the value of unpaid and paid obligations recorded 

during the fiscal year, and upward and downward adjustments of obligations that were originally 

recorded in a prior fiscal year. Non-federal unpaid undelivered orders include the Commission’s 

unfunded future lease payments as of September 30, 2020, and 2019, as follows:

2020 2019

Unfunded Lease Obligations Brought Forward, October 1 $ 126,714,806 $ 149,391,066

Change in Unfunded Lease Obligations (23,088,270) (22,676,260)

TOTAL REMAINING UNFUNDED LEASE OBLIGATIONS $ 103,626,536 $ 126,714,806

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 23

C. Explanations of Differences between the Statement of Budgetary Resources and 

Budget of the United States Government

The CFTC had material differences between the amounts reported in the Statement of Budgetary 

Resources and the actual amounts reported in the Budget of the U.S. Government for FY 2019

related to unfunded lease obligations that are being funded each fiscal year through annual 

appropriations (see table below). These unfunded obligations will cease to be a reconciling 

difference when the last unfunded lease ends in FY 2025. 

Budgetary 

Resources

CFTC FY 2019 Statement of Budgetary Resources $ 295,144,893

 Less Amounts in Customer Protection Fund (162,297,815)

 Less Amounts in Expired Accounts (12,042,941)

 Less New Budget Authority Used to Liquidate Deficiencies (22,676,260)

 Plus Unfunded Lease Obligations Brought Forward, October 1 149,391,066

 Plus Rounding to Nearest Million (+/-) (518,943)

BUDGET OF THE U.S. GOVERNMENT $ 247,000,000

The Budget of the U.S. Government with actual numbers for FY 2020 has not yet been published. 

The expected publish date is February 2021. A copy of the Budget may be obtained from OMB’s 

website. 

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24 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT

Note 11 Reconciliation of Total Net Cost of Operations to Net Outlays

The schedule presented in this note reconciles the Total Net Cost of Operations reported in the 

Statements of Net Cost with Net Outlays reported in the Statements of Budgetary Resources. 

Differences between net costs and net outlays are primarily the result of timing differences and

paying for assets that are used over more than one reporting period. 

TOTAL NET COST OF OPERATIONS $ 301,285,466 $ 301,304,756

$ (6,031,004) $ (7,443,442)

Gain/(Loss) on Disposal (412,170) (91,859)

 Accounts Receivable (1,950) 9,915

 Decrease in Prepayments (345,320) - 

 13,217,453 (10,843,948)

 (3,178,787) (1,138,692)

 16,653,119 (15,366,271)

- 38,696

 (3,151,507) (1,153,452)

Other Financing Sources:

 Federal employee retirement benefit costs paid by OPM and imputed to CFTC (5,663,309) (8,054,524)

$ 11,086,525 $ (44,043,577)

$ 4,644,995 $ 4,572,624

- 1,547,869

Nonexchange Interest Revenue (excluding interest receivable) (1,082,980) (3,224,832)

$ 3,562,015 $ 2,895,661

$ 315,934,006 $ 260,156,840

Distributed Offsetting Receipts (5,106) (14,569)

$ 315,928,900 $ 260,142,271

Depreciation and Amortization

Total Components of Net Cost That Are Not Part of Net Outlays

2020 2019

Components of Net Cost That Are Not Part of Net Outlays:

(Increase)/Decrease in Liabilities:

 Accounts Payable

Increase/(Decrease) in Assets:

 Contingent liabilities

AGENCY OUTLAYS, NET

Outlays, Net

 Salaries and Benefits

Components of Net Outlays That Are Not Part of Net Cost:

Increase in Prepayments

Acquisition of capital assets

Total Components of Net Outlays That Are Not Part of Net Cost

 Other liabilities (Unfunded leave, Unfunded FECA, Actuarial FECA)

 Liability for Whistleblower Awards

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 25

Note 12 Funds from Dedicated Collections 

Funds from dedicated collections arise from disgorgement and penalty collections and are 

transferred to the Customer Protection Fund, established by the Dodd-Frank Act. The collections 

are transferred from the custodial receipt account if they are found to be eligible before the end of 

each fiscal year. In cases where the collection has been returned to Treasury, the Commission can 

recover the funds directly from Treasury. The collections will fund the Commission’s 

whistleblower awards program and customer education initiatives. 

The Dodd-Frank Act provides that whistleblower awards shall be paid under regulations 

prescribed by the Commission. An important prerequisite to implementation of the whistleblower 

awards program is the issuance of rules and regulations describing its scope and procedures. The 

Commission issued revised rules effective July 31, 2017. 

No eligible collections have been transferred into the fund since it reached its legislative maximum 

during FY 2014. The following chart presents the Fund’s balance sheets, statements of net costs, 

and statements of changes in net position as of and for the years ended September 30, 2020, and 

2019: 

2020 2019

BALANCE SHEETS

Fund Balance with Treasury $ 5,351,553 $ 13,148,336

Investments 117,000,000 141,300,000

Accounts Receivable, Net 842 - 

Prepayments 9,685 221,818

General Property, Plant and Equipment, Net 7,161 50,126

TOTAL ASSETS $ 122,369,241 $ 154,720,280

Accounts Payable 1,234,029 8,670,172

Accrued Payroll 219,313 141,492

Accrued Annual Leave 260,900 189,308

Liability for Whistleblower Awards 3,627,027 20,280,146

Total Liabilities $ 5,341,269 $ 29,281,118

Cumulative Results of Operations - Funds from Dedicated Collections 117,027,972 125,439,162

Total Net Position $ 117,027,972 $ 125,439,162

TOTAL LIABILITIES AND NET POSITION $ 122,369,241 $ 154,720,280

STATEMENTS OF NET COST

Gross Costs $ 9,494,170 $ 36,104,893

TOTAL NET COST OF OPERATIONS $ 9,494,170 $ 36,104,893

STATEMENTS OF CHANGES IN NET POSITION

Beginning Cumulative Results of Operations, October 1 $ 125,439,162 $ 158,337,598

Nonexchange Interest Revenue 1,082,980 3,206,457

Net Cost of Operations (9,494,170) (36,104,893)

 Net Change (8,411,190) (32,898,436)

TOTAL NET POSITION, SEPTEMBER 30, 2020 $ 117,027,972 $ 125,439,162

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 COMMODITY FUTURES TRADING COMMISSION FY 2020 AGENCY FINANCIAL REPORT 26

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED) 

Commodity Futures Trading Commission

COMBINING STATEMENTS OF BUDGETARY RESOURCES BY MAJOR ACCOUNT

For the Years Ended September 30, 2020 and 2019 

2020

BUDGETARY RESOURCES

 Unobligated Balance from Prior Year Budget Authority, Net (Note 10A) $ 143,572,792 $ (119,582,735) $ 4,153,910 $ 28,143,967

 Appropriations - 315,000,000 - 315,000,000

 Spending Authority from Offsetting Collections 1,019,085 12,716 - 1,031,801

TOTAL BUDGETARY RESOURCES $ 144,591,877 $ 195,429,981 $ 4,153,910 $ 344,175,768

STATUS OF BUDGETARY RESOURCES

 New Obligations and Upward Adjustments $ 26,250,571 $ 268,039,403 $ 2,301,550 $ 296,591,524

 Unobligated Balance, End of Year

Apportioned, Unexpired Accounts 118,341,306 24,972,265 5,001 143,318,572

Unapportioned, Unexpired Accounts - (103,626,536) - (103,626,536)

Unexpired Unobligated Balance, End of Year 118,341,306 (78,654,271) 5,001 39,692,036

Expired Unobligated Balance, End of Year - 6,044,849 1,847,359 7,892,208

 Unobligated Balance, End of Year (Total) 118,341,306 (72,609,422) 1,852,360 47,584,244

TOTAL BUDGETARY RESOURCES $ 144,591,877 $ 195,429,981 $ 4,153,910 $ 344,175,768

OUTLAYS, NET

Outlays, Net $ 32,096,783 $ 256,483,379 $ 27,353,844 $ 315,934,006

Distributed Offsetting Receipts - (5,106) - (5,106)

AGENCY OUTLAYS, NET $ 32,096,783 $ 256,478,273 $ 27,353,844 $ 315,928,900

Information

Technology

Customer

Protection Fund Combined

Salaries and

Expense

2019

BUDGETARY RESOURCES

 Unobligated Balance from Prior Year Budget Authority, Net (Note 10A) $ 159,272,922 $ (143,858,784) $ 8,514,393 $ 23,928,531

 Appropriations - 218,000,000 50,000,000 268,000,000

 Spending Authority from Offsetting Collections 3,024,893 191,469 - 3,216,362

TOTAL BUDGETARY RESOURCES $ 162,297,815 $ 74,332,685 $ 58,514,393 $ 295,144,893

STATUS OF BUDGETARY RESOURCES

 New Obligations and Upward Adjustments $ 20,862,226 $ 195,322,004 $ 51,845,265 $ 268,029,495

 Unobligated Balance, End of Period

Apportioned, Unexpired Accounts 141,435,589 1,288,578 258,671 142,982,838

Unapportioned, Unexpired Accounts - (126,714,806) - (126,714,806)

Unexpired Unobligated Balance, End of Period 141,435,589 (125,426,228) 258,671 16,268,032

Expired Unobligated Balance, End of Period - 4,436,909 6,410,457 10,847,366

 Unobligated Balance, End of Period (Total) 141,435,589 (120,989,319) 6,669,128 27,115,398

TOTAL BUDGETARY RESOURCES $ 162,297,815 $ 74,332,685 $ 58,514,393 $ 295,144,893

OUTLAYS, NET

Outlays, Net $ 10,345,063 $ 204,714,251 $ 45,097,526 $ 260,156,840

Distributed Offsetting Receipts - (14,569) - (14,569)

AGENCY OUTLAYS, NET $ 10,345,063 $ 204,699,682 $ 45,097,526 $ 260,142,271

Combined

Customer

Protection Fund

Information

Technology

Salaries and

Expense

-