NOTE 16. Liabilities Not Covered by Budgetary Resources
Liabilities Not Covered by Budgetary Resources as of September 30, 2007 and 2006 are as follows:
Liabilities Not Covered by Budgetary Resources
(Dollars in Thousands)
| |
2007 |
2006 |
| Liabilities Not Covered by Budgetary Resources |
|
|
| Accrued Unfunded Annual Leave and Separation Pay |
25,415 |
34,405 |
| Accrued Unfunded Workers Compensation Benefits |
36,337 |
32,645 |
| Debt - Contingent Liabilities for Loan Guarantees |
124,793 |
160,266 |
| Total Liabilities Not Covered by Budgetary Resources |
186,545 |
227,316 |
| Total Liabilities Covered by Budgetary Resources |
9,247,635 |
9,223,399 |
| Total Liabilities |
$9,434,180 |
$9,450,715 |
Accrued unfunded annual leave, workmen compensation benefits, and separation pay represent future liabilities not currently funded by budgetary resources, but will be funded as it becomes due with future resources. The Contingent Liabilities for Loan Guarantees is in the pre-Credit Reform Urban and Environmental (UE) Housing Loan Guarantee liquidating fund. As such, it represents the estimated liability to lenders for future loan guarantee defaults in that program.
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