Financial Statements

Consolidated Balance Sheet
As of September 30, 2003 and 2002 (in thousands)

			9/30/03	9/30/02
Assets	Intragovernmental	Fund Balance with Treasury (Note 2)	$153,866	$356,423
		Accounts Receivable, Net (Note 3)	4,545	800
	Total Intragovernmental		158,411	357,223
	Accounts Receivable, Net (Note 3)		-
	Advances to Grantees (Note 5)
	Advances and Prepayments		-
	Property and Equipment, Net (Note 4)		325	375
	Total Assets		$158,736	$357,598
Liabilities	Intragovernmental	Accounts Payable (Note 6)	$2,544	$2,467
		Deferred Revenue (Note 6)	11,320
		Accrued Payroll and Benefits (Note 6)	396	359
	Total Intragovernmental		14,260	2,826
	Accounts Payable (Note 6)		10,738	12,463
	Accrued Payroll and Benefits (Note 6)		481	1,435
	Accrued Grant Liability (Note 5)		14,708	7,224
	Actuarial FECA Liability (Note 6)		569	516
	Accrued Leave Liability (Note 6)		2,208	2,010
	Liability for Deposit Funds (Note 6)		-	(679)
	Total Liabilities		42,964	25,795
Net Position	Unexpended Appropriations		9,867	35,314
	Cumulative Results of Operations		105,905	296,489
	Total Net Position		115,772	331,803
Total Liabilities & Net Position			$158,736	$357,598

The accompanying notes are an integral part of these statements.

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Consolidated Statement of Net Cost
For Fiscal Years Ended September 30, 2003, and 2002 (in thousands)

		2003	2002
Current Programs	Research on Health Costs, Quality and Outcomes	$194,463	$227,432
	Medical Expenditure Panel Survey	22,245	45,698
	Program Support	42	2,545
	Totals—Current Programs	$216,750	$275,675
Net Cost of Operations		$216,750	$275,675

The accompanying notes are an integral part of these statements.

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Consolidated Statement of Changes in Net Position
For Fiscal Years Ending September 30, 2003, and 2002 (in thousands)

		2003 Cumulative Results of Operations	2003 Unexpended Appropriations	2002 Cumulative Results of Operations	2002 Unexpended Appropriations
Beginning Balances (10/1/03 & 10/1/02)		$296,489	$35,314	$177,137	$89,680
Prior period adjustments					-
Beginning balances, as adjusted		296,489	35,314	177,137	89,680
Budgetary Financing Sources:	Appropriations received				2,600
	Appropriations transferred-in/out (+/-)				-
	Other adjustments	14	(1,164)	19,952	(19,057)
	Appropriations used	24,283	(24,283)	37,909	(37,909)
	Nonexchange revenue	-		336,015
	Donations and forfeitures of cash and cash equivalents	102		-
	Transfers—in/out without reimbursement (+/-)			-
	Other budgetary financing resources			-
Other Financing Sources:	Donations and forfeitures of property			-
	Transfers—in/out without reimbursements			-
	Imputed financing from costs absorbed by others	1,767		1,167
	Other			(16)
Total Financing Sources		26,166	(25,447)	395,027	(54,366)
Net Cost of Operations		216,750		275,675
Ending Balances		$105,905	$9,867	$296,489	$35,314

The accompanying notes are an integral part of these statements.

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Statement of Budgetary Resources
For the Fiscal Years Ending September 30, 2003, and 2002 (in thousands)

				2003 Combined Total	2002 Combined Total
Budgetary Resources	1. Budget Authority	Appropriations received			$2,600
		Net Transfers
		Other		100	1,767
	2. Unobligated Balances—Beginning of period	Beginning of Period		22,737	5,196
		Net transfers
	3. Spending Authority from Offsetting Collections Earned	Collected		298,011	223,024
		Receivables from Federal Sources		4,545	-
	3B. Change in Unfilled Customer Orders	Advance Received		(188,249)	113,728
		Without Advance from Federal Sources		218,149	(5,022)
	3C. Anticipated for rest of year				-
	3D. Subtotal			332,456	331,730
	4. Recoveries of Prior Year Obligations			939	1,884
	5. Temporarily Not Available Pursuant to Public Law			-	-
	6. Permanently Not Available			(1,156)	(15)
	7. Total Budgetary Resources			$355,076	$343,162
Status of Budgetary Resources	8. Obligations Incurred	Direct		$(2,569)	$4,467
		Reimbursable		332,239	315,958
		Subtotal		329,670	320,425
	9. Unobligated Balances - Available	Apportioned		22,519	8,567
		Exempt from apportionment		100
	10. Unobligated Balances - Not Available			2,787	14,170
	11. Total Status of Budgetary Resources			$355,076	$343,162
Relationship of Obligations to Outlays	12. Obligated Balance, Net—Beginning of Period			341,939	289,128
	13. Obligated Balance Transferred, Net			-	-
	14. Obligated Balance, Net - End of Period	Accounts receivable (-)		(4,545)	-
		Unfilled customer orders from Federal sources (-)		(218,949)	(800)
		Undelivered orders		345,463	326,018
		Accounts payable		14,159	16,720
	15. Outlays	Disbursements		312,208	270,752
		Collections (-)		(110,122)	(336,752)
		Subtotal		202,086	(66,000)
	16. Less: Offsetting receipts
	17. Net Outlays			$202,086	$(66,000)

The accompanying notes are an integral part of these statements.

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Combined Statement of Financing
For the Fiscal Years Ending September 30, 2003, and 2002 (in thousands)

			2003 Consolidated Total	2002 Consolidated Total
Resources Used to Finance Activities	Budgetary Resources Obligated	Obligations incurred	$329,670	$320,425
		Less: Spending from offsetting collections and recoveries	333,395	333,614
		Obligations net of offsetting collections and recoveries	(3,725)	(13,189)
		Less: Offsetting receipts	-	-
		Net obligations	(3,725)	(13,189)
	Other Resources	Donations and forfeitures of property	-	-
		Transfers in/out without reimbursements	-	-
		Imputed financing	1,767	1,167
		Other resources	-	(16)
		Net other resources used to finance activities	1,767	1,151
		Total resources used to finance activities	$(1,958)	$(12,038)
Resources Used to Finance Items Not Part of the Net Cost of Operations	Change in budgetary resources obligated for goods, services and benefits ordered but not yet provided		(23,044)	63,997
	Resources that fund expenses recognized in prior periods
	Budgetary offsetting collections and receipts that do not affect net cost of operations
		Credit program collections which increase liabilities for loan guarantees or allowance for subsidy
		Other budgetary collections and receipts	102	(336,015)
	Resources that finance the acquisition of assets
	Other resources or adjustments to net obligated resources that do not affect net cost of operations		(201,904)	-
	Total resources used to finance items not part of the net cost of operations		(224,846)	(336,015)
	Total resources used to finance the net cost of operations		$222,888	$323,977
Components of the net cost of operations that will not require or generate resources in the current period:	Components requiring or generating resources in future periods	Increase in annual leave liability		111
		Increase in environmental and disposal liability
		Upward/downward reestimate of credit subsidy expense
		Increase in exchange revenues receivable from the public
		Other
		Total components of net cost of operations that will require or generate resources in future periods.		111
	Components not requiring or generating resources	Depreciation and amortization	76	117
		Revaluation of assets or liabilities
		Other	(6,214)	15,586
		Total components of net cost of operations that will not require or generate resources	(6,138)	15,703
		Total components of net cost of operations that will not require or generate resources in the current period	(6,138)	15,814
		Net cost of operations	$216,750	$339,791

The accompanying notes are an integral part of these statements.

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