NOTE 11. Debt
USAID Intragovernmental debt as of September 30, 2006 and
2005 consisted of the following borrowings from Treasury for
post-1991 loan programs, which is classified as other debt:
Intragovernmental Debt
(Dollars in Thousands)
| |
FY 2005 Beginning Balance |
Net Borrowing |
FY 2005 Ending Balance |
Net Borrowing |
FY 2006 Ending Balance |
| Urban & Environmental |
$– |
$– |
$– |
$– |
$– |
| Direct Loan |
111,081 |
311,521 |
422,602 |
51,453 |
474,055 |
| MSED |
– |
– |
– |
– |
– |
| Total Debt |
$111,081 |
$311,521 |
$422,602 |
$51,453 |
$474,055 |
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.
Urban and Environmental (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 $4.5 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.
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