Skip to page content
Bookmark and Share

ANNUAL REPORT FY 2001

Principal Financial Statements and Notes

Principal Financial Statements Included in this Report

The principal financial statements included in this report have been prepared in accordance with the requirements of the Chief Financial Officers Act of 1990 (P.L. 101-576), the Government Management Reform Act of 1994 and the Office of Management and Budget's (OMB) Bulletin 97-01, "Form and Content of Agency Financial Statements," as amended. The responsibility for the integrity of the financial information included in these statements rests with management of the U.S. Department of Labor (DOL). The audit of DOL's principal financial statements was performed by the Office of Inspector General (OIG). The auditors' report issued by the Assistant Inspector General accompanies the principal statements.

The Department's principal financial statements for fiscal years (FY) 2001 and 2000 consisted of the following:

  • The Consolidated Balance Sheets, which presents as of September 30, 2001 and 2000 those resources owned or managed by DOL which are available to provide future economic benefits (assets); amounts owed by DOL that will require payments from those resources or future resources (liabilities) and residual amounts retained by DOL, comprising the difference (net position).

  • The Consolidated Statements of Net Cost, which presents the net cost of DOL operations for the years ended September 30, 2001 and 2000. DOL's net cost of operations includes the gross costs incurred by DOL less any exchange revenue earned from DOL activities. Due to the complexity of DOL's operations, the classification of gross cost and exchange revenues by major program and suborganization is presented in Note 15 to the consolidated financial statements.

  • The Consolidated Statements of Changes in Net Position, which presents the change in DOL's net position resulting from the net cost of DOL operations, financing sources other than exchange revenues and the change in DOL's unexpended appropriations during FY 2001 and FY 2000.

  • The Consolidated Statements of Budgetary Resources, which presents the budgetary resources available to DOL during FY 2001and 2000 , the status of these resources at September 30, 2001 and 2000 and the outlay of budgetary resources during FY 2001 and FY 2000.

  • The Consolidated Statements of Financing, which reconciles the net cost of operations with the obligation of budgetary resources for the years ended September 30, 2001 and 2000.

  • The Consolidated Statements of Custodial Activity, which presents the sources and disposition of non-exchange revenues collected or accrued by DOL on behalf of other recipient entities for the years ended September 30, 2001 and 2000.

 

2001

 

 

 

2000

ASSETS

 

 

 

 

 

 

 

 

 

 

 

  

Intra-governmental

 

 

 

 

 

 

 

 

 

 

 

    

Funds with U.S. Treaury (Notes 1-C and 2)

$10,964,910

 

 

 

$9,951,706

 

 

 

 

 

 

    

Investments (Notes 1-D and 3)

89,094,324

 

 

 

86,550,908

 

 

 

 

 

 

    

Accounts receivable (Notes 1-E and 4)

4,949,842


 

 

 

4,962,104


  

Total intra-governmental

105,019,076

 

 

 

101,464,718

 

 

 

 

 

 

 

 

 

 

 

 

  

Accounts receivable, net of allowance
   (Notes 1-E and 4)

759,691

 

 

 

783,326

 

 

 

 

 

 

  

Advances (Notes 1-F and 5)

179,5676

 

 

 

170,997

 

 

 

 

 

 

  

Property, plant and equipment, net of
   depreciation (Notes 1-G and 6)

777,686


   

 

   

 

   

 

738,804


   

 

 

 

 

 

 

Total assets

106,736,020



 

 

 

$103,157,845



 

 

 

 

 

 

  

 

 

 

 

 

 

LIABILITIES AND NET POSITION

 

 

 

 

 

 

 

 

 

 

 

  

Intra-governmental liabilities

 

 

 

 

 

 

 

 

 

 

 

    

Accounts payable

$ 37,837

 

 

 

$ 12,023

 

 

 

 

 

 

    

Advances from U.S. Treasury (Notes 1-J and 8)

7,253,557

 

 

 

6,748,557

 

 

 

 

 

 

    

Other liabilities (Note 11)

107,423


 

 

 

285,120


  

Total intra-governmental

7,398,817

 

 

 

7,045,700

      

 

 

 

 

 

 

  

Accounts payable

330,327

 

 

 

354,225

 

 

 

 

 

 

  

Accrued leave (Note 1-K)

93,238

 

 

 

89,422

 

 

 

 

 

 

  

Accrued benefits (Notes 1-L and 9)

1,558,846

 

 

 

942,732

 

 

 

 

 

 

  

Future workers' compensation benefits (Notes 1-M and 10)

586,217

 

 

 

561,106

 

 

 

 

 

 

  

Energy Employees occupational illness
   compensation benefits (Note 1-N)

3,200,000

 

 

 

-

 

 

 

 

 

 

  

Other liabilities (Note 11)

213,029


 

 

 

207,407


 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

13,380,474


 

 

 

9,200,592


 

 

 

 

 

 

Net position (Notes 1-R and 13)

 

 

 

 

 

 

 

 

 

 

 

  

Unexpended appropriations

11,281,332

 

 

 

10,095,063

 

 

 

 

 

 

  

Cumulative results of operations

82,074,214


 

 

 

83,862,190


 

 

 

 

 

 

Total net position

93,355,546


 

 

 

93,957,253


 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and net position

$106,736,020



 

 

 

$103,157,845



 

 

 

 

 

 

The accompanying notes are an integral part of these statements.

 


 

2001

 

 

 

2000

NET COST OF OPERATIONS (Notes 1-S and 15)

 

 

 

 

 

 

 

 

 

 

 

CROSSCUTTING PROGRAMS

 

 

 

 

 

 

 

 

 

 

 

Income maintenance

 

 

 

 

 

 

 

 

 

 

 

 

Intra-governmental

$ 808,751

 

 

 

$782,781

 

 

 

 

 

 

 

With the public

36,609,990


 

 

 

27,312,626


Total cost

37,418,741

 

 

 

28,095,407

 

 

 

 

 

 

 

Less earned revenue

(2,570,342)


 

 

 

(2,480,333)


  

Net program cost

34,848,399


 

 

 

25,615,074


 

 

 

 

 

 

Employment and training

 

 

 

 

 

 

 

 

 

 

 

 

Intra-governmental

42,361

 

 

 

43,370

 

 

 

 

 

 

 

With the public

5,823,371


 

 

 

5,522,606


 

 

 

 

 

 

Total cost

5,865,732

 

 

 

5,565,976

 

 

 

 

 

 

 

Less earned revenue

(9,437)


 

 

 

(1,157)


 

 

 

 

 

 

  

Net program cost

5,856,295


 

 

 

5,564,819


 

 

 

 

 

 

 

 

 

 

 

 

Labor, employment and pension standards

 

 

 

 

 

 

 

 

 

 

 

 

Intra-governmental

111,264

 

 

 

103,254

 

 

 

 

 

 

 

With the public

417,709


 

 

 

405,233


 

 

 

 

 

 

Total cost

528,973

 

 

 

508,487

 

 

 

 

 

 

 

Less earned revenue

(12,509)


 

 

 

(8,644)


 

 

 

 

 

 

  

Net program cost

516,464


 

 

 

499,843


 

 

 

 

 

 

Worker safety and health

 

 

 

 

 

 

 

 

 

 

 

 

Intra-governmental

132,066

 

 

 

123,355

 

 

 

 

 

 

 

With the public

587,521


 

 

 

583,246


 

 

 

 

 

 

Total cost

719,587

 

 

 

706,601

 

 

 

 

 

 

 

Less earned revenue

(3,024)


 

 

 

(3,199)


 

 

 

 

 

 

  

Net program cost

716,563


 

 

 

703,402


 

 

 

 

 

 

 

 

 

 

 

 

OTHER PROGRAMS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statistics

 

 

 

 

 

 

 

 

 

 

 

 

Intra-governmental

149,297

 

 

 

138,348

 

 

 

 

 

 

 

With the public

314,841


 

 

 

300,585


 

 

 

 

 

 

Total cost

464,138

 

 

 

438,933

 

 

 

 

 

 

 

Less earned revenue

(4,829)


 

 

 

(9,973)


 

 

 

 

 

 

  

Net program cost

459,309


 

 

 

428,960


 

 

 

 

 

 

 

 

 

 

 

 

Costs not assigned to programs

88,448

 

 

 

66,406

 

 

 

 

 

 

 

Less earned revenue not attributed to programs

(25,612)


 

 

 

(22,827)


 

 

 

 

 

 

   

Net cost not assigned to programs

62,836


 

 

 

43,579


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cost of operations

$42,459,866



 

 

 

$32,855,677



The accompanying notes are an integral part of these statements.

 


 

2001

 

 

 

2000

CHANGE IN NET POSITION

 

 

 

 

 

 

 

 

 

 

 

Net cost of operations

$42,459,866


 

 

 

32,855,677


 

 

 

 

 

 

Net financing sources (Note 1-T)

 

 

 

 

 

 

Non-exchange revenue (Note 16)

 

 

 

 

 

 

 

 

 

 

 

  

Employer taxes

27,234,707

 

 

 

27,108,898

 

 

 

 

 

 

  

Interest

5,775,266

 

 

 

5,367,241

 

 

 

 

 

 

  

Assessments

146,713

 

 

 

145,751

 

 

 

 

 

 

  

Reimbursement of unemployment benefits

1,072,686


 

 

 

1,014,531


 

 

 

 

 

 

Total non-exchange revenue

34,229,372

 

 

 

33,636,421

 

 

 

 

 

 

 

 

 

 

 

 

Appropriations used

7,953,537

 

 

 

7,627,900

 

 

 

 

 

 

Imputed financing

86,835

 

 

 

78,039

 

 

 

 

 

 

Transfer of Eneergy employees occuaptional illness
 compensation benefits liability

(1,600,00)

 

 

 

-

 

 

 

 

 

 

Transfers (Note 17)

2,146


 

 

 

2,503


 

 

 

 

 

 

 

 

 

 

 

 

Total net financing sources

40,671,890


 

 

 

41,344,863


 

 

 

 

 

 

 

 

 

 

 

 

 

Net results of operations

(1,787,976)

 

 

 

8,489,186

 

 

 

 

 

 

Increase (decrease) in unexpended appropriations

1,186,269


 

 

 

(2,119,249)


 

 

 

 

 

 

Change in net position

(601,707)

 

 

 

6,369,937

 

 

 

 

 

 

 

 

 

 

 

 

Net position, beginning of period

93,957,253


 

 

 

87,587,316


 

 

 

 

 

 

Net position, end of period

$93,355,546



 

 

 

$93,957,253



 

 

 

 

 

 

The accompanying notes are an integral part of these statements.

 

 

2001

 

 

 

2000

BUDGETARY RESOURCES (Note 18)

 

 

 

 

 

 

 

 

 

 

 

 

Budget authority

$44,403,052

 

 

 

$40,109,628

 

 

 

 

 

 

 

Unobligated balances, beginning

2,555,115

 

 

 

3,450,786

 

 

 

 

 

 

 

Transfers of prior year authority

1,526

 

 

 

7,277

 

 

 

 

 

 

 

Spending authority from offsetting collections

2,087,500

 

 

 

2,090,577

 

 

 

 

 

 

 

Adjustments

(1,645,805)


 

 

 

(8,701,550)


 

 

 

 

 

 

 

 

 

 

 

 

Total budgetary resources

$47,401,388



 

 

 

$36,956,718



 

 

 

 

 

 

 

 

 

 

 

 

STATUS OF BUDGETARY RESOURCES

 

 

 

 

 

 

 

 

 

 

 

 

Obligations incurred (Note 18)

$44,386,257

 

 

 

$34,401,603

 

 

 

 

 

 

 

Unobligated balances available

2,382,784

 

 

 

1,780,288

 

 

 

 

 

 

 

Unobligated balances not available

632,347


 

 

 

774,827


 

 

 

 

 

 

Total status of budgetary resources

$47,401,388



 

 

 

$36,956,718



 

 

 

 

 

 

OUTLAYS (Note 18)

 

 

 

 

 

 

 

 

 

 

 

 

Obligations incurred

$44,386,257

 

 

 

$34,401,603

 

 

 

 

 

 

 

Less spending authority from offsetting collections

(2,087,500)

 

 

 

(2,090,577)

 

 

 

 

 

 

 

Less recoveries of prior year obligations

(240,216)

 

 

 

(397,039)

 

 

 

 

 

 

 

Change in unfilled customer orders

1,901

 

 

 

(1,464)

 

 

 

 

 

 

 

Obligated balance, net, beginning

8,942,392

 

 

 

9,684,061

 

 

 

 

 

 

 

Less obligated balance, net, ending

(10,281,482)


 

 

 

(8,942,392)


 

 

 

 

 

 

Total outlays

$40,721,352



 

 

 

$32,654,192



 

 

 

 

 

 

The accompanying notes are an intergal part of these statements.

 

2001

 

 

 

2000

OBLIGATIONS AND NON-BUDGETARY RESOURCES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Obligations incurred

$44,386,257

 

 

 

$34,401,603

 

 

 

 

 

 

 

Less spending authority from offsetting collections

(2,087,500)

 

 

 

(2,090,577)

 

 

 

 

 

 

 

Recoveries of prior year obligations

(240,216)

 

 

 

(397,039)

 

 

 

 

 

 

 

Financing imputed for cost subsidies

86,835

 

 

 

78,039

 

 

 

 

 

 

 

Transfers, net

2,146

 

 

 

2,503

 

 

 

 

 

 

 

Exchange revenue not in budget

(117,400)

 

 

 

(66,253)

 

 

 

 

 

 

 

Trust fund exchange revenue

(389,789)


 

 

 

(420,144)


 

 

 

 

 

 

Total obligations as adjusted and non-budgetary resources

41,640,333


 

 

 

31,508,132


 

 

 

 

 

 

RESOURCES NOT FUNDING NET COST OF OPERATIONS

 

 

 

 

 

 

 

 

 

 

 

 

Change in amount of goods, services and benefits
  ordered but not yet received or provided

(743,569)

 

 

 

1,399,540

 

 

 

 

 

 

 

Capitalized costs

(85,598)

 

 

 

(94,741)

 

 

 

 

 

 

 

Other

656


 

 

 

(2,036)


 

 

 

 

 

 

Total resources not funding net cost of operations

(828,511)


 

 

 

1,302,763


 

 

 

 

 

 

COST OF OPERATIONS NOT CONSUMING RESOURCES

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

40,126

 

 

 

41,108

 

 

 

 

 

 

 

Revaluation of assets and liabilities

207,114

 

 

 

243,161

 

 

 

 

 

 

 

Benefit overpayments

(229,177)

 

 

 

(226,189)

 

 

 

 

 

 

 

Energy employees occupational illness compensation benefits

1,600,000

 

 

 

-

 

 

 

 

 

 

 

Other

29,981


 

 

 

(13,298)


 

 

 

 

 

 

Total cost of operations not consuming resources

1,648,044


 

 

 

44,782


 

 

 

 

 

 

Net cost of operations

$42,459,866



 

 

 

$32,855,677



 

 

 

 

 

 

The accompanying notes are an integral part of these statements.

 

2001

 

 

 

2000

SOURCES OF CUSTODIAL REVENUE (Notes 1-U and 19)

 

 

 

 

 

 

 

 

 

 

 

 

Cash collection of fines, penalties, assessments
  and related interest

$115,521

 

 

 

$114,170

 

 

 

 

 

 

 

Less refunds

170


 

 

 

(3,331)


 

 

 

 

 

 

 

Net cash collections

115,691

 

 

 

110,839

 

 

 

 

 

 

 

Increase in amounts to be collected

(5,413)


 

 

 

23,832


 

 

 

 

 

 

Total sources of custodial revenue

110,278


 

 

 

134,671


 

 

 

 

 

 

DISPOSITION OF CUSTODIAL REVENUE (Note 1-U)

 

 

 

 

 

 

 

 

 

 

 

 

Net transfers to U.S. Treasury general fund

115,691

 

 

 

110,839

 

 

 

 

 

 

 

Increase in amounts to be transferred

(5,413)


 

 

 

23,832


 

 

 

 

 

 

Total disposition of custodial revenue

110,278


 

 

 

134,671


Net custodial activity

$ -



 

 

 

$-



The accompanying notes are an integral part of these statements.

Previous Section Next Section