TRUST AND OTHER FUNDS 61. Airport and airway trust fund, June 30, 1972. 62. Civil service retirement and disability fund, June 30, 1972___ Page 248 249 251 64. Retired employees health benefits fund, Civil Service Commission, June 30, 1972... 252 65. Employees' life insurance fund, Civil Service Commission, June 30, 1972. 253 66. Federal disability insurance trust fund, June 30, 1972... 72. Judicial survivors annuity fund, June 30, 1972. 73. Library of Congress trust funds, June 30, 1972. 255 257 258 259 261 262 264 265 74. National service life insurance fund, June 30, 1972 266 75. Pershing Hall Memorial fund, June 30, 1972.. 267 76. Railroad retirement account, June 30, 1972 268 77. Railroad retirement holding account, June 30, 1972. 270 78. Railroad retirement supplemental account, June 30, 1972. 270 79. Unemployment trust fund, June 30, 1972 271 80. U.S. Government life insurance fund, June 30, 1972. 278 CUSTOMS OPERATIONS 81. Merchandise entries, fiscal years 1971 and 1972. 279 82. Carriers and persons arriving in the United States, fiscal years 1971 and 1972... 279 83. Aircraft and aircraft passengers entering the United States, fiscal years 1971 and 1972.. 280 84. Seizures for violations of customs laws, fiscal years 1971 and 1972... 85. Investigative activities, fiscal years 1971 and 1972. 282 282 86. Principal commodities on which drawback was paid, fiscal years 1971 and 1972. 283 ENGRAVING AND PRINTING OPERATIONS 87. New postage stamp issues delivered, fiscal year 1972.. 283 88. Deliveries of finished work by the Bureau of Engraving and Printing, fiscal years 1971 and 1972.... 284 89. Statement of financial condition June 30, 1971 and 1972_ 286 288 289 INTERNATIONAL CLAIMS 92. Status of Class III awards of the Mixed Claims Commission, United States and Germany, and Private Law 509 as of June 30, 1972........ 93. Status of claims of American nationals against certain foreign governments as of June 30, 1972.... 289 290 INTERNATIONAL FINANCIAL TRANSACTIONS 94. U.S. net monetary gold transactions with foreign countries and international institutions, fiscal years 1945-72_ 291 95. U.S. reserve assets, fiscal years 1958-72. 293 96. U.S. liquid and nonliquid liabilities to foreign official institutions, and liquid liabilities to all other foreigners, 1958–72.. 294 97. International investment position of the United States at yearend.. 98. Assets and liabilities of the Exchange Stabilization Fund as of June 30, 1971, and June 30, 1972.... 296 298 Page 99. Summary of receipts, withdrawals, and balances of nonpurchased foreign currencies acquired by the U.S. Government without direct payment of dollars, fiscal 1972__. 100. Balances of nonpurchased foreign currencies acquired by the U.S. Government without direct payment of dollars, June 30, 1972____ INDEBTEDNESS OF FOREIGN GOVERNMENTS 101. Indebtedness of foreign governments to the United States arising CORPORATIONS AND OTHER BUSINESS-TYPE ACTIVITIES OF THE FEDERAL 105. Comparative statement of securities of Government corporations 300 301 303 304 305 310 312 314 315 320 321 323 111. Dividends, interest, and similar earnings received by the Treasury 327 328 GOVERNMENT LOSSES IN SHIPMENT 113. Government losses in shipment revolving fund, June 30, 1972----- 329 PERSONNEL 114. Number of employees in the departmental and field services of the Department of the Treasury quarterly from June 30, 1971, to June 30, 1972... 330 Bases of Tables Statistical sources The figures in this report are shown on the basis of: (a) The Daily Statement of the United States Treasury; (b) the Monthly Statement of Receipts and Outlays of the United States Government; (c) warrants issued; (d) public debt accounts; and (e) administrative accounts and reports. Where no basis is indicated, the figures are derived from administrative reports prepared according to various specifications. Where more than one basis is used in a single table covering a period of years, the date of the change in basis is stated. The term "security," wherever used in the various tables, means any obligation issued pursuant to law for valuable consideration and includes bonds, notes, certificates of indebtedness, debentures, and other evidences of indebtedness. Following are general explanations of the various bases. For background on the first two bases (the daily and monthly statements) see exhibits 69, 70, and 71 in the 1954 annual report; and for the third (warrants issued) see 1962 Annual Report, page 502. Daily Statement of the United States Treasury The daily Treasury statement was the basis for receipts, expenditures, and the resulting surplus or deficit shown in this report for the fiscal years 1916-52, and from 1916 to present it has been the basis for much of the public debt data and all of the figures on the account of the Treasurer of the United States. Since 1916 the daily statement has been based on bank transcripts (summarizing charges for checks paid and credits for deposits on the books of the banks) cleared and processed through the accounts of the Treasurer's office in Washington. Telegraphic reports are used to provide more timely data for certain major types of information pending receipt of the bank transcripts. For the fiscal years 1946-52, expenditures for agencies using the facilities of the Treasury Department's Division of Disbursement were shown on the basis of reports of checks issued. Total expenditures, however, as well as expenditures for the military departments and other agencies using their own disbursing facilities, were on the basis of bank transcripts cleared. During the time it served as the basis for the budget results, the daily statement covered certain transactions processed through commercial bank accounts held in the name of Government officers other than the Treasurer of the United States, and included intragovernmental and other noncash transactions. The present daily Treasury statement reports the status of the Treasurer's account and summarizes the various transactions representing deposits and withdrawals in that account, excluding noncash transactions (with minor exceptions) and transactions involving cash held outside the Treasurer's account. Only a limited number of deposit and withdrawal classifications are shown. These data do not purport to represent budget results. Monthly Statement of Receipts and Outlays of the United States Government Beginning with the figures for the fiscal year 1953, this monthly statement replaced the daily statement as the primary source of budget results (surplus or deficit) and other receipt and expenditure data classified by type of account. This statement shows all receipts and expenditures of the Government including those made from cash accounts held outside the Treasurer's account. The information in the monthly statement is based on the central accounts relating to cash operations (see "Description of Accounts Relating to Cash Operations," below). Warrants issued Receipt and expenditure data shown for fiscal years before 1916 were taken from reports based on warrants issued. For receipts, covering warrants were prepared from certificates of deposit mailed to the Treasury, principally by Government depositaries, showing de 1 posits received. The figures thus compiled were on a "warrants-issued" basis. Since these certificates did not reach the Treasury simultaneously, all receipts for a fiscal year could not be covered into the Treasury by warrant of the Secretary immediately upon the close of the fiscal year. Therefore, certain certificates of deposit representing amounts deposited during one fiscal year were reported as the next year's receipts. Reports of expenditures were based on the amount of accountable and settlement warrants issued and charged to appropriation accounts. Since accountable warrants covered advances to disbursing officers, rather than actual payments, reported expenditures necessarily included the changes in balances of funds remaining unexpended to the credit of disbursing officers at the close of the fiscal year. Public debt accounts The figures reported on this basis represent transactions which have been audited by the Bureau of the Public Debt. It is sometimes several months after a financing operation before all the transactions have been reported and audited. Therefore, the public debt figures on this basis differ from those reported in the daily Treasury statement since the latter consist of transactions cleared through the Treasurer's account during the reporting period. A reconciliation of figures on the two bases is given in table 26. Administrative accounts and reports Certain tables in this report are developed from the accounts, records, and reports of the administrative agencies concerned, which may be on various bases. These tables include internal revenue and customs statistics, foreign currency transactions in the accounts of the Secretary of the Treasury, and financial statements of Government corporations and other business-type activities. Description of Accounts Relating to Cash Operations The classes of accounts maintained in connection with the cash operations of the Federal Government, exclusive of public debt operations, include: (1) The accounts of fiscal officers or agents, collectively, who receive money for deposit in the U.S. Treasury or for other authorized disposition or who make disbursements by drawing checks on the Treasurer of the United States or by effecting payments in some other manner; (2) the accounts of administrative agencies which classify receipt and expenditure (disbursement) transactions according to the individual receipt, appropriation, or fund account; and (3) the accounts of the Treasurer of the United States whose office, generally speaking, is responsible for the receipt and custody of money deposited by fiscal officers or agents, for the payment of checks drawn on the Treasurer, and the payment of public debt securities redeemed. A set of central accounts is maintained in the Treasury Department for the purpose of consolidating financial data reported periodically from these three sources in order to present the results of cash operations in central financial reports on a unified basis for the Government as a whole, and as a means of internal control. The central accounts relating to cash operations disclose monthly and fiscal year information on: (1) The Government's receipts by principal sources, and its expenditures according to the different appropriations and other funds involved; and (2) the cash transactions, classified by types, together with certain directly related assets and liabilities which underlie such receipts and expenditures. The accounting for receipts is substantially on the basis of collections (i.e. as of the time cash receipts are placed under accounting control), and that for expenditures is substantially on the basis of checks issued (and cash payments made) except that since June 1955 interest on the public debt has been on an accrual basis. The structure of the accounts provides for a reconciliation, on a firm accounting basis, between the published reports of receipts and expenditures for the Government as a whole and changes in the Treasurer's cash balance by means of such factors as checks outstanding, deposits in transit, and cash held outside the Treasury. Within the central accounts, receipt and expenditure accounts are classified as described in the following paragraphs. Budget accounts General fund receipt accounts.-General fund receipt accounts are credited with all receipts which are not earmarked by law for a specific purpose. General fund receipts consist principally of internal revenue collections, which include income taxes, excise taxes, estate, gift, and employment taxes. The remainder consist of customs duties and a large number of miscellaneous receipts, including fees for permits and licenses, fines, penalties, and forfeitures; interest and dividends; rentals; royalties; and sale of Government property. Special fund receipt accounts.—Special fund receipt accounts are credited with receipts from specific sources which are earmarked by law for a specific purpose, but which are not generated from a cycle of operations. The Congress may appropriate these receipts on an annual basis or for an indefinite period of time. Examples of special fund receipts are those arising from rents and royalties under the Mineral Leasing Act, the revenue from visitors to Yellowstone National Park, the proceeds of the sale of certain timber and reserve lands, and other receipts authorized to be credited to the reclamation fund. General fund expenditure accounts.—General fund expenditure accounts are established to record amounts appropriated by the Congress to be expended for the general support of the Government. Such accounts are classified according to the limitations that are established by the Congress with respect to the period of availability for obligation of the appropriation, as 1-year, multiple-year, or "no-year" (without a time limit), and with respect to the agency authorized to enter into obligations and approve expenditures. Special fund expenditure accounts.-Special fund expenditure accounts are established to record appropriated amounts of special fund receipts to be expended for special programs in accordance with specific provisions of law. These accounts are generally available without time limit, but may also be subject to time limitations as in the case of general fund accounts. Revolving fund accounts.-These are funds authorized by specific provisions of law to finance a continuing cycle of operations in which expenditures generate receipts, and the receipts are available for expenditure without further action by Congress. They are classified as (a) Public enterprise funds where receipts come primarily from sources outside the Government and (b) intragovernmental funds where receipts come primarily from other appropriations or funds. Treasury reports generally show the net effect of operations (excess of disbursements or collections and reimbursements for the period) on the budget surplus or deficit. These accounts are usually designated as "no-year" accounts; i.e., they are without limitation as to period of availability for expenditures. Examples of public enterprise revolving funds are the Export-Import Bank of the United States and the Commodity Credit Corporation. Examples of intragovernmental revolving funds are the general supply fund, administered by the General Services Administration, and the Government Printing Office revolving fund. Consolidated working fund accounts.-These are accounts established to receive (and subsequently disburse) advance payments from other agencies or bureaus pursuant to section 601 of the Economy Act (31 U.S.C. 686) or other provisions of law. Consolidated working funds may be credited with advances from more than one appropriation for the procurement of goods or services to be furnished by the performing agency with the use of its own facilities within the same fiscal year. Expenditures recorded in these accounts are stated net of advances credited and are classified under the agencies administering the accounts. The accounts are subject to the fiscal year limitations of the appropriations or funds from which advanced. Management fund accounts.-These are working fund accounts authorized by law to facilitate accounting for and administration of intragovernmental activities (other than a continuing cycle of operations) which are financed by two or more appropriations. This classification is also often applied to the consolidated working funds for interagency activities described above. Trust fund accounts.-These are accounts maintained to record the receipt and expenditure of moneys held in trust by the Government for use in carrying out specific purposes or programs in accordance with the terms of a trust agreement or statute. The receipts of many trust funds, especially the major ones, not needed for current payments are invested in public debt and Government agency securities. Generally, trust fund accounts consist of separate receipt and expenditure accounts, but when the trust corpus is established to perform a business-type operation, the fund entity is called a "trust revolving fund" and a combined receipt and expenditure account is used. Some of the major trust accounts are the Federal old-age and survivors insurance trust fund, unemployment trust fund, civil service retirement and disability fund, the national service life insurance fund, and the highway trust fund. Transfer appropriation accounts.-These accounts are established to receive (and subsequently disburse) allocations which are treated as nonexpenditure |