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Secretary of Labor Thomas E. Perez
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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

 

 

 

 

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