FINANCIAL REPORT
PRINCIPAL STATEMENTS
| As of September 30, Dollars in Thousands |
2008 | 2007 |
|---|---|---|
| ASSETS | ||
| Intragovernmental | ||
| Fund Balance with Treasury (Note 2) | $22,074,754 | $23,392,470 |
| Investments, Net (Note 3) | 21,699,531 | 21,144,083 |
| Accounts Receivable (Note 4) | 235,638 | 509,692 |
| Other (Note 5) | 38,915 | 2,453 |
| Total Intragovernmental | 44,048,838 | 45,048,698 |
| Cash | 54,675 | 24,358 |
| Investments, Net (Note 3) | 28,707 | 74,085 |
| Accounts Receivable, Net (Note 4) | 67,852 | 114,118 |
| Direct Loan and Loan Guarantees (Note 6) | 1,670,284 | 889,885 |
| Inventory and Related Property, Net (Note 7) | 802,368 | 785,760 |
| General Property, Plant and Equipment, Net (Note 8) | 14,512,568 | 14,683,890 |
| Other (Note 5) | 182,492 | 211,044 |
| Total Assets | $61,367,784 | $61,831,838 |
| Stewardship Property, Plant and Equipment (Note 9) | ||
| LIABILITIES (Note 10) | ||
| Intragovernmental | ||
| Accounts Payable | $11,046 | $30,424 |
| Debt (Note 11) | 1,762,985 | 1,040,761 |
| Other (Note 15) | 3,263,123 | 3,418,078 |
| Total Intragovernmental | 5,037,154 | 4,489,263 |
| Accounts Payable | 532,579 | 614,861 |
| Loan Guarantee Liability (Note 6) | 258,050 | 336,626 |
| Federal Employee Benefits Payable (Note 12) | 984,710 | 946,408 |
| Environmental and Disposal Liabilities (Note 13) | 828,757 | 852,366 |
| Grant Accrual (Note 14) | 5,810,147 | 5,526,288 |
| Other (Note 15) | 1,365,257 | 1,309,411 |
| Total Liabilities | 14,816,654 | 14,075,223 |
| Commitments and Contingencies (Note 17) | ||
| NET POSITION (Note 18) | ||
| Unexpended Appropriations - Earmarked Funds | 1,010,409 | 1,213,189 |
| Unexpended Appropriations - Other Funds | 7,643,564 | 8,563,101 |
| Cumulative Results of Operations - Earmarked Funds | 25,944,043 | 26,522,761 |
| Cumulative Results of Operations - Other Funds | 11,953,114 | 11,427,564 |
| Total Net Position | 46,551,130 | 47,756,615 |
| Total Liabilities and Net Position | $61,367,784 | $61,831,838 |
The accompanying notes are an integral part of these financial statements.
| For the Years Ended September 30, Dollars in Thousands |
2008 | 2007 |
|---|---|---|
| PROGRAM COSTS (Note 19) | ||
| SURFACE TRANSPORTATION | ||
| Gross Costs | $50,416,782 | $47,649,334 |
| Less: Earned Revenue | 263,771 | 264,028 |
| Net Program Costs | 50,153,011 | 47,385,306 |
| AIR TRANSPORTATION | ||
| Gross Costs | 15,913,667 | 15,263,468 |
| Less: Earned Revenue | 381,546 | 449,014 |
| Net Program Costs | 15,532,121 | 14,814,454 |
| MARITIME TRANSPORTATION | ||
| Gross Costs | 706,649 | 759,803 |
| Less: Earned Revenue | 491,570 | 189,076 |
| Net Program Costs | 215,079 | 570,727 |
| CROSS-CUTTING PROGRAMS | ||
| Gross Costs | 565,861 | 511,524 |
| Less: Earned Revenue | 542,360 | 500,076 |
| Net Program Costs | 23,501 | 11,448 |
| Costs Not Assigned to Programs | 386,130 | 388,392 |
| Less: Earned Revenues Not Attributed to Programs | 39,379 | 30,295 |
| NET COST OF OPERATIONS | $66,270,463 | $63,140,032 |
The accompanying notes are an integral part of these financial statements.
| For the Years Ended September 30, Dollars in Thousands |
2008 | 2007 | ||||
|---|---|---|---|---|---|---|
| Earmarked Funds | All Other Funds | Total | Earmarked Funds | All Other Funds | Total | |
| Cumulative Results of Operations | ||||||
| Beginning Balance | $26,552,761 | $11,427,564 | $37,980,325 | $30,175,061 | $12,465,748 | $42,640,809 |
| Budgetary Financing Sources | ||||||
| Other Adjustments | (783) | 756 | (27) | (166,601) | 166,625 | 24 |
| Appropriations Used | 2,582,284 | 14,220,954 | 16,803,238 | 2,095,506 | 4,156,871 | 6,252,377 |
| Non-Exchange Revenue (Note 20) | 48,688,029 | (3,679) | 48,684,350 | 51,531,076 | 2,197 | 51,533,273 |
| Donations/Forfeitures of Cash/Cash Equivalents | 1,557 | – | 1,557 | 2,422 | – | 2,422 |
| Transfers-In/(Out) Without Reimbursement | 8,035,031 | (7,997,976) | 37,055 | 6,883 | 76,568 | 83,451 |
| Other Financing Sources (Non-Exchange) | ||||||
| Transfers-In/(Out) Without Reimbursement | (1,898,408) | 1,919,255 | 20,847 | (2,443,652) | 2,446,463 | 2,811 |
| Imputed Financing | 548,956 | 93,192 | 642,148 | 506,686 | 98,504 | 605,190 |
| Other | – | (1,873) | (1,873) | – | – | – |
| Total Financing Sources | 57,956,666 | 8,230,628 | 66,187,295 | 51,532,320 | 6,947,228 | 58,479,548 |
| Net Cost of Operations | 58,565,384 | 7,705,079 | 66,270,463 | 55,154,620 | 7,985,412 | 63,140,032 |
| Net Change | (608,718) | 525,550 | (83,168) | (3,622,300) | (1,038,184) | (4,660,484) |
| Cumulative Results of Operations | 25,944,043 | 11,953,114 | 37,897,157 | 26,552,761 | 11,427,564 | 37,980,325 |
| Unexpended Appropriations | ||||||
| Beginning Balance | 1,213,189 | 8,563,101 | 9,776,290 | 612,378 | 7,806,902 | 8,419,280 |
| Budgetary Financing Sources | ||||||
| Appropriations Received | 2,404,596 | 13,319,232 | 15,723,828 | 2,841,381 | 4,974,437 | 7,815,818 |
| Appropriations Transferred-In/(Out) | (6) | 28,006 | 28,000 | 621 | (606) | 15 |
| Other Adjustments | (25,086) | (45,821) | (70,907) | (145,134) | (60,761) | (205,895) |
| Appropriations Used | (2,582,284) | (14,220,954) | (16,803,238) | (2,096,057) | (4,156,871) | (6,252,928) |
| Total Budgetary Financing Sources | (202,780) | (919,537) | (1,122,317) | 600,811 | 756,199 | 1,357,010 |
| Total Unexpended Appropriations | 1,010,409 | 7,643,564 | 8,653,973 | 1,213,189 | 8,563,101 | 9,776,290 |
| NET POSITION | $26,954,452 | $19,596,678 | $46,551,130 | $27,765,950 | $19,990,665 | $47,756,615 |
The accompanying notes are an integral part of these financial statements.
| For the Years Ended September 30, Dollars in Thousands |
2008 | 2007 | ||
|---|---|---|---|---|
| Budgetary | Non- Budgetary Credit Reform Financing Accounts |
Budgetary | Non- Budgetary Credit Reform Financing Accounts |
|
| BUDGETARY RESOURCES (Note 21) | ||||
| Unobligated Balance, Brought Forward, October 1 | $46,511,710 | $332,405 | $46,566,672 | $358,827 |
| Recoveries of Prior Year Unpaid Obligations | 909,305 | 37,788 | 658,023 | 207,000 |
| Budget Authority | ||||
| Appropriations Received | 79,462,754 | – | 62,551,786 | – |
| Borrowing Authority | 215,000 | 950,094 | 225,000 | 865,759 |
| Contract Authority | 55,933,312 | – | 55,040,320 | – |
| Spending Authority from Offsetting Collections | ||||
| Earned | ||||
| Collected | 2,182,754 | 507,519 | 2,212,610 | 167,921 |
| Change in Receivables from Federal Sources | (66,642) | (188) | (69,617) | (3,616) |
| Change in Unfilled Customer Orders | ||||
| Advance Received | 216,149 | – | 89,251 | – |
| Without Advance from Federal Sources | (192,676) | 33,973 | 184,966 | (20,491) |
| Expenditure Transfers from Trust Funds | 6,447,419 | – | 5,673,226 | – |
| Subtotal | 144,198,070 | 1,491,398 | 125,907,542 | 1,009,573 |
| Nonexpenditure Transfers, Net | 2,000 | – | 2,220 | – |
| Temporarily not Available Pursuant to Public Law | – | – | (5,489) | – |
| Permanently Not Available | (59,405,333) | (359,787) | (51,763,052) | (287,959) |
| Total Budgetary Resources | $132,215,752 | $1,501,804 | $121,365,916 | $1,287,441 |
| STATUS OF BUDGETARY RESOURCES | ||||
| Obligations Incurred | ||||
| Direct | $84,438,020 | $1,261,574 | $72,701,475 | $955,036 |
| Reimbursable | 1,970,779 | – | 2,152,731 | – |
| Subtotal | 86,408,799 | 1,261,574 | 74,854,206 | 955,036 |
| Unobligated Balance | ||||
| Apportioned | 26,059,115 | 4,796 | 22,742,862 | 4,394 |
| Exempt from Apportionment | 299,415 | – | 307,808 | – |
| Subtotal | 26,358,530 | 4,796 | 23,050,670 | 4,394 |
| Unobligated Balance Not Available | 19,448,423 | 235,434 | 23,461,040 | 328,011 |
| Total Status of Budgetary Resources | $132,215,752 | $1,501,804 | $121,365,916 | $1,287,441 |
| CHANGE IN OBLIGATED BALANCES | ||||
| Obligated Balance, Net | ||||
| Unpaid Obligations, Brought Forward, October 1 | $76,707,884 | $2,017,708 | $72,330,387 | $1,706,951 |
| Uncollected Customer Payments from Federal Sources, Brought Forward, October 1 | (1,707,556) | (135,484) | (1,590,193) | (159,590) |
| Total Unpaid Obligated Balance, Net | 75,000,328 | 1,882,224 | 70,740,194 | 1,547,361 |
| Obligations Incurred | 86,408,799 | 1,261,574 | 74,854,206 | 955,036 |
| Gross Outlays | (82,157,078) | (1,391,414) | (69,820,935) | (437,279) |
| Unpaid Obligations | 25,000 | – | 2,250 | – |
| Recoveries of Prior Year Unpaid Obligations, Actual | (909,305) | (37,788) | (658,023) | (207,000) |
| Change In Uncollected Customer Payments from Federal Sources | 262,920 | (33,784) | (117,363) | 24,106 |
| Obligated Balance, Net, End of Period | ||||
| Unpaid Obligations | 80,075,300 | 1,850,080 | 76,707,884 | 2,017,708 |
| Uncollected Customer Payments From Federal Sources | (1,444,636) | (169,268) | (1,707,556) | (135,484) |
| Total Unpaid Obligated Balance, Net, End Of Period | $78,630,664 | $1,680,812 | $75,000,328 | $1,882,224 |
| NET OUTLAYS | ||||
| Net Outlays | ||||
| Gross Outlays | $82,157,078 | $1,391,414 | $69,820,935 | $437,279 |
| Offsetting Collections | (8,850,341) | (507,519) | (7,973,071) | (167,921) |
| Distributed Offsetting Receipts | (219,003) | (106,676) | (46,779) | – |
| Net Outlays | $73,087,734 | $777,219 | $61,801,085 | $269,358 |
The accompanying notes are an integral part of these financial statements.
