NOTE 11. Debt
USAID Intragovernmental debt as of September 30, 2005 and 2004 consisted of the following borrowings from Treasury for post-1991 loan programs, which is classified as other debt:
Intragovernmental Debt as of September 30, 2005 and 2004
(Dollars in Thousands)
| |
FY 2004 Beginning Balance |
Net Borrowing |
FY 2004 Ending Balance |
Net Borrowing |
FY 2005 Ending Balance |
| Urban & Environmental |
$ – |
$ – |
$ – |
$ – |
$ – |
| Direct Loan |
77,981 |
33,100 |
111,081 |
311,521 |
422,602 |
| MSED |
1,184 |
(1,184) |
– |
– |
– |
| Total Debt |
$ 79,165 |
$ 31,916 |
$ 111,081 |
$ 311,521 |
$ 422,602 |
Pursuant to the Credit Reform Act of 1990, agencies with credit programs have permanent indefinite authority to borrow funds from the Treasury. These funds are used to disburse new direct loans to the public and, in certain situations, to cover credit reform program costs. Liquidating (pre-1992) accounts have permanent indefinite borrowing authority to be used to cover program costs when they exceed account resources. UE Program debt includes amounts borrowed before the effective date of the Credit Reform Act of 1990.
The above disclosed debt is principal payable to Treasury, which represents financing account borrowings from the Treasury under the Credit Reform Act. In addition, there is net liquidating account equity in the amount of $5.3 billion, which under the Credit Reform Act is required to be recorded as Due to Treasury. Both of these accounts are used exclusively for credit reform activity. All debt shown is intragovernmental debt.
Back to Top ^ | < Previous Page | Next Page >
|
