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NOTE 21. Statement of Financing - Other

Explanation of the Relationship Between Liabilities Not Covered by Budgetary Resources on the Balance Sheet and the Change in Components Requiring or Generating Resources in Future Periods

Contingent liabilities for Loan Guarantees on the Balance Sheet represent cumulative balances, of which $195 million represent the Credit Subsidy expense reestimates requiring resources in future periods. Current period changes of $3.5 million represents the current period increase in the Accrued Unfunded Annual Leave Separation Pay liability, and is shown on the Statement of Financing as a change in components requiring resources in future periods.

Explanation of the Relationship Between the Statement of Changes in Net Position and the Statement of Financing

Transfers in without reimbursement for $1.8 million and Donated Revenue of $17.5 million are shown on both the Statement of Changes of Net Position as Other Financing Sources and on the Statement of Financing as Other Resources.

Description of Transfers that Appear as a Reconciling Item on the Statement of Financing

Appropriations that are transferred from other Federal Agencies to USAID are not shown on the Statement of Budgetary Resources, but are shown on the Balance Sheet and Statement of Net Costs. Appropriations that are transferred to other agencies are shown on the Statement of Budgetary Resources, but are not shown on the Balance Sheet nor the Statement of Net Costs. Below is a reconciliation of obligations and spending authority from offsetting collections between the Statement of Budgetary Resources and the Statement of Financing. Below is a reconciliation of Obligations, Offsetting Receipts and Recoveries between the Statement of Financing and the Statement of Budgetary Resources.

Changes in FY 2005 for Statement of Financing:

A net decrease of obligations incurred and a decrease of obligation recoveries during FY 2005 as well as an increase of Credit Program collections for both liabilities and subsidies are the primary reasons for the increase in the Total Resources Used to Finance items not part of the net cost of operations on the Statement of Financing. During FY 2005, Net Obligations decreased by $598 million, and Credit Program Collections were about $1,283 million. For FY 2004, net obligations increased by about $1.397 million and total credit program collections were about $1,070 million.

For the Upward/Downward Re-estimates of Credit Subsidy Expense, during FY 2005, there was a net decrease for Credit Program subsidy re-estimates of about $14 million, as compared to an increase in FY 2004 of $209 million. This is generally caused by a favorable economic world climate during FY 2005, thus the lowering of sovereign country default rates.

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