DOL Annual Report, Fiscal Year 2003
Principal Financial Statements and Notes Cont.

NOTE 19 - DEDICATED COLLECTIONS

DOL is responsible for the operation of four major trust funds. The financial position of each trust fund as of September 30, 2003 is shown below.

(Dollars in thousands)		Unemployment		Black Lung Disability		Longshore and Harbor Workers'		District of Columbia


Assets


Intra-governmental
Funds with U.S. Treasury	$	(59,434)	$	30,432	$	56	$	4
Investments		48,188,383		-		64,348		4,898
Accounts receivable, net
Due from other Federal agencies
for UCX and UCFE benefits		254,677		-		-		-
Interest receivable from investments		723,114		-		-		-
Total intra-governmental		49,106,740		30,432		64,404		4,902

Accounts receivable, net
State unemployment tax		141,918		-		-		-
Due from reimbursable employers		502,470		-		-		-
Benefit overpayments		179,479		10,638		-		-
Other		-		1,131		2,541		87
Advances to states		471,592		-		-		-

Total assets	$	50,402,199	$	42,201	$	66,945	$	4,989

Liabilities
Intra-governmental
Accounts payable to DOL agencies	$	1,304,116	$	-	$	-	$	-
Advances from U.S. Treasury		-		8,243,557		-		-
Amounts held for the Railroad
Retirement Board		55,806		-		-		-
Total intra-governmental		1,359,922		8,243,557		-		-

Accrued benefits		1,465,069		25,654		2,172		175
Other		-		-		41,284		3,369
Total liabilities		2,824,991		8,269,211		43,456		3,544

Net position
Cumulative results of operations		47,577,208		(8,227,010)		23,489		1,445

Total liabilities and net position	$	50,402,199	$	42,201	$	66,945	$	4,989

The net results of operations of each trust fund for the year ended September 30, 2003 is shown below.

(Dollars in thousands)		Unemployment		Black Lung Disability		Longshore and Harbor Workers'		District of Columbia

Cost, net of earned revenues
Benefits	$	(53,417,598)	$	(375,031)	$	(133,286)	$	(11,055)
Interest		(3,350)		(620,582)		-		-
Administrative		(386,531)		(59)		-		-
		(53,807,479)		(995,672)		(133,286)		(11,055)
Earned revenue		613,146		-		-		-
		(53,194,333)		(995,672)		(133,286)		(11,055)
Net financing sources
Taxes		31,192,732		506,081		-		-
Interest		3,447,565		(497)		511		48
Assessments		2,050,363		-		127,661		9,510
Transfers-in
Treasury		-		-		-		-
DOL entities		-		-		-		-
Transfers-out
DOL entities		(3,315,901)		(55,273)		(2,016)		-
		33,374,759		450,311		126,156		9,558
Net results of operations		(19,819,574)		(545,361)		(7,130)		(1,497)


Net position, beginning of period		67,396,782		(7,681,649)		30,619		2,942


Net position, end of period	$	47,577,208	$	(8,227,010)	$	23,489	$	1,445

The financial position of each trust fund as of September 30, 2002 is shown below and on the following page.

(Dollars in thousands)		Unemployment		Black Lung Disability		Longshore and Harbor Workers'		District of Columbia

Assets

Intra-governmental
Funds with U.S. Treasury	$	(23,255)	$	38,828	$	629	$	34
Investments		68,264,647		-		63,052		6,077
Accounts receivable, net
Due from other Federal agencies
for UCX and UCFE benefits		267,737		-		-		-
Interest receivable from investments		1,071,299		-		-		-
Total intra-governmental		69,580,428		38,828		63,681		6,111

Accounts receivable, net
State unemployment tax		220,618		-		-		-
Due from reimbursable employers		372,786		-		-		-
Benefit overpayments		105,384		24,728		-		-
Other		-		2,821		4,025		204
Advances to states		504,283		-		-		-

Total assets	$	70,783,499	$	66,377	$	67,706	$	6,315

(Dollars in thousands)		Unemployment		Black Lung Disability		Longshore and Harbor Workers'		District of Columbia

Liabilities
Intra-governmental
Accounts payable to ETA - SUIESO	$	1,284,215	$	-	$	-	$	-
Advances from U.S. Treasury		-		7,718,557		-		-
Amounts held for the Railroad
Retirement Board		28,268		-		-		-
Total intra-governmental		1,312,483		7,718,557		-		-

Accrued benefits		2,074,234		29,469		2,052		154
Other		-		-		35,035		3,219
Total liabilities		3,386,717		7,748,026		37,087		3,373

Net position
Cumulative results of operations		67,396,782		(7,681,649)		30,619		2,942

Total liabilities and net position	$	70,783,499	$	66,377	$	67,706	$	6,315

The net results of operations of each trust fund for the year ended September 30, 2002 is shown below.

(Dollars in thousands)		Unemployment		Black Lung Disability		Longshore and Harbor Workers'		District of Columbia



Cost, net of earned revenues
Benefits	$	(50,887,009)	$	(367,911)	$	(129,139)	$	(10,962)
Interest		(5,333)		(595,589)		-		-
Administrative		(227,363)		(33)		-		-
		(51,119,705)		(963,533)		(129,139)		(10,962)
Earned revenue		520,264		-		-		-
		(50,599,441)		(963,533)		(129,139)		(10,962)
Net financing sources
Taxes		26,256,016		566,645		-		-
Interest		5,083,191		2,343		854		85
Assessments		1,371,411		-		134,081		11,559
Transfers-in
Treasury		270,090		-		-		-
DOL entities		102,079		-		-		-
Transfers-out
DOL entities		(4,092,672)		(54,239)		(1,970)		-
		28,990,115		514,749		132,965		11,644
Net results of operations		(21,609,326)		(448,784)		3,826		682
Net position, beginning of period		89,006,108		(7,232,865)		26,793		2,260
Net position, end of period	$	67,396,782	$	(7,681,649)	$	30,619	$	2,942