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DOL Annual Report, Fiscal Year 2003
Principal Financial Statements
and Notes
CONSOLIDATED BALANCE SHEETS
As of September 30, 2003 and 2002
(Dollars in Thousands)
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2003 |
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2002 |
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Funds with U.S. Treasury (Notes 1-C and 2)
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9,615,513 |
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10,166,843 |
Investments (Notes 1-D and 3)
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48,408,153 |
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68,423,887 |
Interest receivable from investments
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726,160 |
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1,074,389 |
Accounts receivable (Notes 1-E and 4)
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3,789,999 |
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3,767,581 |
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62,539,825 |
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83,432,700 |
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Accounts receivable, net of allowance (Notes 1-E and 4)
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939,688 |
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825,008 |
Advances (Notes 1-F and 5)
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481,078 |
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516,672 |
Property, plant and equipment, net
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of depreciation (Notes 1-G and 6)
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830,558 |
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779,821 |
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64,791,149 |
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85,554,201 |
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LIABILITIES AND NET POSITION
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37,948 |
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25,490 |
Advances from U.S. Treasury (Notes 1-J and 8)
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8,243,557 |
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7,718,557 |
Other liabilities (Note 11)
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170,184 |
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131,735 |
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8,451,689 |
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7,875,782 |
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669,873 |
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451,256 |
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97,913 |
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93,934 |
Accrued benefits (Notes 1-L and 9)
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1,638,594 |
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2,241,679 |
Future workers' compensation benefits (Notes 1-M and 10)
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592,125 |
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596,933 |
Energy employees occupational illness
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compensation benefits (Note 1-N)
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2,222,574 |
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2,810,022 |
Other liabilities (Note 11)
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270,125 |
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211,161 |
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13,942,893 |
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14,280,767 |
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Unexpended appropriations
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9,343,624 |
Cumulative results of operations
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42,260,590 |
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61,929,810 |
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50,848,256 |
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71,273,434 |
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Total liabilities and net position
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64,791,149 |
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85,554,201 |
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The accompanying notes are an integral part of these statements.
CONSOLIDATED STATEMENTS OF NET COST
For the Years Ended September 30, 2003 and 2002
(Dollars in Thousands)
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2003 |
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2002 |
NET COST OF OPERATIONS (Notes 1-S and 14)
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Labor, employment and pension standards
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Costs not assigned to programs
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Less earned revenue not attributed to programs
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Net cost not assigned to programs
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The accompanying notes are an integral part of these statements.
CONSOLIDATED STATEMENTS OF CHANGES IN NET POSITION
For the Years Ended September 30, 2003 and 2002
(Dollars in Thousands)
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2003 |
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2002 |
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Cumulative Results
of Operations |
|
Unexpended
Appropriations |
|
Cumulative Results
of Operations |
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Unexpended
Appropriations |
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| Beginning balances |
$ |
61,929,810 |
$ |
9,343,624 |
$ |
83,240,355 |
$ |
10,112,365 |
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| Budgetary financing
sources (Note 1-T) |
|---|
| Appropriations received |
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10,891,922 |
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10,278,498 |
| Appropriations transferred |
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(702,501) |
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(644,360) |
| Appropriations not available |
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- |
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(190,679) |
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- |
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(254,328) |
| Appropriations used |
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10,754,700 |
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(10,754,700) |
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10,148,551 |
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(10,148,551) |
| Non exchange revenue (Note 15) |
| Employer taxes |
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31,698,813 |
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26,822,661 |
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| Interest |
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3,454,045 |
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5,094,321 |
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| Assessments |
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137,723 |
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145,613 |
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Reimbursement of
unemployment benefits
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2,050,363 |
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1,371,411 |
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| Total non exchange revenue |
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37,340,944 |
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33,434,006 |
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| Transfers without
reimbursement
(Note 16) |
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3,000 |
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3,000 |
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|---|
| Other financing sources (Note 1-U) |
| Imputed financing from costs
absorbed by others |
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106,003 |
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92,603 |
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| Transfers without
reimbursement (Note 16) |
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(686) |
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2,347 |
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| Total financing sources |
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48,203,961 |
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(755,958) |
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43,680,507 |
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(768,741) |
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| Net cost of operations |
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(67,873,181) |
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(64,991,052) |
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| Ending balances |
$ |
42,260,590 |
$ |
8,587,666 |
$ |
61,929,810 |
$ |
9,343,624 |
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The accompanying notes are an integral part of these statements.
COMBINED STATEMENTS OF BUDGETARY RESOURCES
For the Years Ended September 30, 2003 and 2002
(Dollars in Thousands)
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2003 |
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2002 |
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$ |
68,937,478 |
$ |
66,449,018 |
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(80,878) |
| (156,501) |
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2,971,602 |
| 3,064,662 |
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(732) |
| (97) |
Spending authority from offsetting collections
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2,633,039 |
| 2,370,681 |
Receivable from Federal sources
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(45,828) |
| 56,907 |
Change in unfilled customer orders
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17,650 |
| 27,971 |
Without advance from Federal sources
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(2,396) |
| 1,320 |
Transfers from trust funds
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4,012,226 |
| 4,046,882 |
Total spending authority from offsetting collections
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6,614,691 |
| 6,503,761 |
Recoveries of prior year obligations
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308,966 |
| 428,561 |
Permanently not available
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(250,856) |
| (254,328) |
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Total budgetary resources
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$ |
78,500,271 |
$ |
76,035,076 |
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STATUS OF BUDGETARY RESOURCES
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Obligations incurred (Note 17)
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$ |
72,731,481 |
$ |
70,499,669 |
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2,595,002 |
| 2,563,805 |
Total obligations incurred
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75,326,483 |
| 73,063,474 |
Un obligated balances available
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2,423,022 |
| 2,008,155 |
Exempt from apportionment
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(208) |
| - |
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207,400 |
| 187,429 |
Un obligated balances not available
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543,574 |
| 776,018 |
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Total status of budgetary resources
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$ |
78,500,271 |
$ |
76,035,076 |
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RELATIONSHIP OF OBLIGATIONS TO OUTLAYS
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Obligated balance, net, beginning
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$ |
10,538,670 |
$ |
10,301,270 |
Obligated balance transferred, net
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1,304,116 |
| - |
Obligated balance, net, ending
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(1,336,589) |
| (1,362,515) |
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7,112,519 |
| 7,993,575 |
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3,588,904 |
| 3,907,610 |
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76,534,321 |
| 72,264,887 |
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(6,960,265) |
| (6,369,813) |
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69,574,056 |
| 65,895,074 |
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(1,277,239) |
| (729,086) |
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$ |
68,296,817 |
$ |
65,165,988 |
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The accompanying notes are an integral part of these statements.
CONSOLIDATED STATEMENTS OF FINANCING
For the Years Ended September 30, 2003 and 2002
(Dollars in Thousands)
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2003 |
|
2002 |
RESOURCES USED TO FINANCE ACTIVITIES
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Budgetary resources obligated
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$ |
75,326,483 |
$ |
73,063,474 |
Recoveries of prior year obligations
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| (308,966) |
| (428,561) |
Less spending authority from offsetting collections
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| (6,614,691) |
| (6,503,761) |
Obligations, net of offsetting collections and recoveries
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| 68,402,826 |
| 66,131,152 |
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Imputed financing from costs absorbed by others
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| 106,003 |
| 92,603 |
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| 2,314 |
| 5,347 |
Exchange revenue not in budget
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| (78,398) |
| (116,284) |
Trust fund exchange revenue
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| (613,147) |
| (520,264) |
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Total resources used to finance activities
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| 67,819,598 |
| 65,592,554 |
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RESOURCES USED TO FINANCE ITEMS NOT PART
OF THE NET COST OF OPERATIONS
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Change in budgetary resources obligated for goods, services and
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benefits ordered but not yet received or provided
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931,663 |
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171,470 |
Resources that finance the acquisition of assets
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(101,221) |
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(113,013) |
Allocation transfers to other agencies
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(225,950) |
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(165,697) |
Other resources that do not affect net cost of operations
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(191) |
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(272,402) |
Total resources used to finance items not part of the
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604,301 |
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(379,642) |
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Total resources used to finance the net cost of operations
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68,423,899 |
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65,212,912 |
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COMPONENTS OF THE NET COST OF OPERATIONS
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THAT WILL NOT REQUIRE OR GENERATE RESOURCES
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Components requiring or generating resources in future periods
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Increase in annual leave liability
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3,979 |
|
696 |
Decrease in employee benefits and
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(572,516) |
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(357,144) |
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27,875 |
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(10,551) |
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(540,662) |
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(366,999) |
Components not requiring or generating resources
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Depreciation and amortization
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43,275 |
|
104,417 |
Revaluation of assets and liabilities
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472,304 |
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324,682 |
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(525,635) |
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(283,960) |
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(10,056) |
|
145,139 |
Total components of the net cost of operations that will not
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require or generate resources in the current period
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(550,718) |
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(221,860) |
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$ |
67,873,181 |
$ |
64,991,052 |
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The accompanying notes are an integral part of these statements.
CONSOLIDATED STATEMENTS OF CUSTODIAL ACTIVITY
For the Years Ended September 30, 2003 and 2002
(Dollars in Thousands)
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2003 |
|
2002 |
SOURCES OF CUSTODIAL REVENUE (Notes 1-V and 18)
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Cash collection of fines, penalties, assessments
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$ |
119,911 |
$ |
114,078 |
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(102) |
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(26) |
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119,809 |
|
114,052 |
Increase in amounts to be collected
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2,291 |
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(2,066) |
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Total sources of custodial revenue
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122,100 |
|
111,986 |
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DISPOSITION OF CUSTODIAL REVENUE (Note 1-V)
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Net transfers to U.S. Treasury general fund
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119,809 |
|
114,052 |
Increase in amounts to be transferred
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2,291 |
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(2,066) |
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Total disposition of custodial revenue
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122,100 |
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111,986 |
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$ |
- |
$ |
- |
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The accompanying notes are an integral part of these statements.
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