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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

CONSOLIDATED BALANCE SHEETS

As of September 30, 2003 and 2002

(Dollars in Thousands)

 

 

2003

 

2002

ASSETS

   

 

   

Intra-governmental

   

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

$

9,615,513

$

10,166,843

     Investments (Notes 1-D and 3)

 

48,408,153

 

68,423,887

     Interest receivable from investments

 

726,160

 

1,074,389

     Accounts receivable (Notes 1-E and 4)

 

3,789,999

 

3,767,581

  Total intra-governmental

 

62,539,825

 

83,432,700

         

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

 

939,688

 

825,008

  Advances (Notes 1-F and 5)

 

481,078

 

516,672

  Property, plant and equipment, net

 
 
 
 

    of depreciation (Notes 1-G and 6)

 

830,558

 

779,821

 
 
 
 

Total assets

64,791,149

85,554,201

 
 
 
 

LIABILITIES AND NET POSITION

 
 
 
 
 
 
 
 

Liabilities (Note 1-I)

 
 
 
 

  Intra-governmental

 
 
 
 

    Accounts payable

37,948

25,490

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

 

8,243,557

 

7,718,557

    Other liabilities (Note 11)

 

170,184

 

131,735

  Total intra-governmental

 

8,451,689

 

7,875,782

         

  Accounts payable

 

669,873

 

451,256

  Accrued leave (Note 1-K)

 

97,913

 

93,934

  Accrued benefits (Notes 1-L and 9)

 

1,638,594

 

2,241,679

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

 

592,125

 

596,933

  Energy employees occupational illness

 
 
 
 

    compensation benefits (Note 1-N)

 

2,222,574

 

2,810,022

  Other liabilities (Note 11)

 

270,125

 

211,161

 
 
 
 

Total liabilities

 

13,942,893

 

14,280,767

 
 
 
 

Net position (Note 1-R)

 

 

 
 

  Unexpended appropriations

 

8,587,666

 

9,343,624

  Cumulative results of operations

 

42,260,590

 

61,929,810

 
 
 
 

Total net position

 

50,848,256

 

71,273,434

 
 
 
 

Total liabilities and net position   

$

64,791,149

$

85,554,201

 
 
 
 
 

 

The accompanying notes are an integral part of these statements.

CONSOLIDATED STATEMENTS OF NET COST

For the Years Ended September 30, 2003 and 2002

(Dollars in Thousands)

   

2003

 

2002

NET COST OF OPERATIONS (Notes 1-S and 14)

   

CROSSCUTTING PROGRAMS

   
 
 
 
 
 

Income maintenance

   

  Intra-governmental

$

852,394

$

878,063

  With the public

 

60,808,540

 

57,983,467

Total cost

 

61,660,934

 

58,861,530

  Less earned revenue

 

(3,015,750)

 

(2,813,013)

    Net program cost

 

58,645,184

 

56,048,517

Employment and training

 
 
 
 

  Intra-governmental

 

43,709

 

95,321

  With the public

 

7,198,735

 

6,886,665

Total cost

 

7,242,444

 

6,981,986

  Less earned revenue

 

(17,630)

 

(16,190)

    Net program cost

 

7,224,814

 

6,965,796

Labor, employment and pension standards

 
 
 
 

  Intra-governmental

 

138,110

 

123,613

  With the public

 

459,858

 

499,749

Total cost

 

597,968

 

623,362

  Less earned revenue

 

(10,644)

 

(7,392)

    Net program cost

 

587,324

 

615,970

Worker safety and health

 
 
 
 

  Intra-governmental

 

158,339

 

142,535

  With the public

 

642,819

 

623,937

Total cost

 

801,158

 

766,472

  Less earned revenue

 

(5,351)

 

(1,423)

    Net program cost

 

795,807

 

765,049

 
 
 
 
 

OTHER PROGRAMS

 
 
 
 

Statistics

 
 
 
 

  Intra-governmental

 

168,252

 

163,409

  With the public

 

359,768

 

343,375

Total cost

 

528,020

 

506,784

  Less earned revenue

 

(4,438)

 

(6,036)

    Net program cost

 

523,582

 

500,748

 
 
 
 
 

Costs not assigned to programs

 

126,139

 

130,042

  Less earned revenue not attributed to programs

 

(29,669)

 

(35,070)

    Net cost not assigned to programs

 

96,470

 

94,972

 
 
 
 
 

Net cost of operations

$

67,873,181

$

64,991,052

 
 
 
 
 

The accompanying notes are an integral part of these statements.

CONSOLIDATED STATEMENTS OF CHANGES IN NET POSITION

For the Years Ended September 30, 2003 and 2002

(Dollars in Thousands)

 

 

2003

 

2002

 

 

Cumulative Results
of Operations

 

Unexpended
Appropriations

 

Cumulative Results
of Operations

 

Unexpended
Appropriations

 

Beginning balances

$

61,929,810

$

9,343,624

$

83,240,355

$

10,112,365

 

Budgetary financing
  sources (Note 1-T)

    Appropriations received

 

 

 

10,891,922

 

 

 

10,278,498

    Appropriations transferred

 

 

 

(702,501)

 

 

 

(644,360)

    Appropriations not available

 

-

 

(190,679)

 

-

 

(254,328)

    Appropriations used

 

10,754,700

 

(10,754,700)

 

10,148,551

 

(10,148,551)

    Non exchange revenue (Note 15)

      Employer taxes

 

31,698,813

 

 

 

26,822,661

 

 

      Interest

 

3,454,045

 

 

 

5,094,321

 

 

      Assessments

 

137,723

 

 

 

145,613

 

 

      Reimbursement of
        unemployment benefits

 

2,050,363

 

 

 

1,371,411

 

 

    Total non exchange revenue

 

37,340,944

 

 

 

33,434,006

 

 

    Transfers without
       reimbursement (Note 16)

 

3,000

 

 

 

3,000

 

 

 

Other financing sources (Note 1-U)

  Imputed financing from costs
    absorbed by others

 

106,003

 

 

 

92,603

 

 

  Transfers without
    reimbursement (Note 16)

 

(686)

 

 

 

2,347

 

 

 

Total financing sources

 

48,203,961

 

(755,958)

 

43,680,507

 

(768,741)

 

Net cost of operations

 

(67,873,181)

 

 

 

(64,991,052)

 

 

 

Ending balances

$

42,260,590

$

8,587,666

$

61,929,810

$

9,343,624

 

 

 

 

 

 

 

 

 


The accompanying notes are an integral part of these statements.

COMBINED STATEMENTS OF BUDGETARY RESOURCES

For the Years Ended September 30, 2003 and 2002

(Dollars in Thousands)

   

2003

 

2002

BUDGETARY RESOURCES

       

  Budget authority

 

 

 

 

    Appropriations received

$

68,937,478

$

66,449,018

    Net transfers

 

(80,878)

 

(156,501)

  Un obligated balance

 

 

 

 

    Beginning of period

 

2,971,602

 

3,064,662

    Net transfers

 

(732)

 

(97)

  Spending authority from offsetting collections

 

 

 

 

    Earned

 

 

 

 

      Collected

 

2,633,039

 

2,370,681

      Receivable from Federal sources

 

(45,828)

 

56,907

    Change in unfilled customer orders

 

 

 

 

      Advance received

 

17,650

 

27,971

      Without advance from Federal sources

 

(2,396)

 

1,320

    Transfers from trust funds

 

4,012,226

 

4,046,882

  Total spending authority from offsetting collections

 

6,614,691

 

6,503,761

  Recoveries of prior year obligations

 

308,966

 

428,561

  Permanently not available

 

(250,856)

 

(254,328)

 

 

 

 

 

Total budgetary resources

$

78,500,271

$

76,035,076

 

 

 

 

 

STATUS OF BUDGETARY RESOURCES

 

 

 

 

  Obligations incurred (Note 17)

 

 

 

 

    Direct

$

72,731,481

$

70,499,669

    Reimbursable

 

2,595,002

 

2,563,805

  Total obligations incurred

 

75,326,483

 

73,063,474

  Un obligated balances available

 

 

 

 

    Apportioned

 

2,423,022

 

2,008,155

    Exempt from apportionment

 

(208)

 

-

    Other available

 

207,400

 

187,429

  Un obligated balances not available

 

543,574

 

776,018

 

 

 

 

 

Total status of budgetary resources

$

78,500,271

$

76,035,076

 

 

 

 

 

RELATIONSHIP OF OBLIGATIONS TO OUTLAYS

 

 

 

 

  Obligated balance, net, beginning

$

10,538,670

$

10,301,270

  Obligated balance transferred, net

 

1,304,116

 

-

  Obligated balance, net, ending

 

 

 

 

    Accounts receivable

 

(1,336,589)

 

(1,362,515)

    Undelivered orders

 

7,112,519

 

7,993,575

    Accounts payable

 

3,588,904

 

3,907,610

  Outlays

 

 

 

 

    Disbursements

 

76,534,321

 

72,264,887

    Collections

 

(6,960,265)

 

(6,369,813)

  Total outlays

 

69,574,056

 

65,895,074

  Offsetting receipts

 

(1,277,239)

 

(729,086)

 

 

 

 

 

Net outlays

$

68,296,817

$

65,165,988

 

 

 

 

 

The accompanying notes are an integral part of these statements.

CONSOLIDATED STATEMENTS OF FINANCING

For the Years Ended September 30, 2003 and 2002

(Dollars in Thousands)

   

2003

 

2002

RESOURCES USED TO FINANCE ACTIVITIES

Budgetary resources obligated

  Obligations incurred

$

75,326,483

$

73,063,474

  Recoveries of prior year obligations

 

(308,966)

 

(428,561)

  Less spending authority from offsetting collections

 

(6,614,691)

 

(6,503,761)

  Obligations, net of offsetting collections and recoveries

 

68,402,826

 

66,131,152

Other resources

 

 

 

 

  Imputed financing from costs absorbed by others

 

106,003

 

92,603

  Transfers, net

 

2,314

 

5,347

  Exchange revenue not in budget

 

(78,398)

 

(116,284)

  Trust fund exchange revenue

 

(613,147)

 

(520,264)

 

 

 

 

 

Total resources used to finance activities

 

67,819,598

 

65,592,554

 

 

 

 

 

RESOURCES USED TO FINANCE ITEMS NOT PART
OF THE NET COST OF OPERATIONS

  Change in budgetary resources obligated for goods, services and

 
 
 
 

    benefits ordered but not yet received or provided

 

931,663

 

171,470

  Resources that finance the acquisition of assets

 

(101,221)

 

(113,013)

  Allocation transfers to other agencies

 

(225,950)

 

(165,697)

  Other resources that do not affect net cost of operations

 

(191)

 

(272,402)

Total resources used to finance items not part of the

 

 

 

 

  net cost of operations

 

604,301

 

(379,642)

 

 

 

 

 

Total resources used to finance the net cost of operations

 

68,423,899

 

65,212,912

 

 

 

 

 

COMPONENTS OF THE NET COST OF OPERATIONS

 

 

 

 

  THAT WILL NOT REQUIRE OR GENERATE RESOURCES

 

 

 

 

  IN THE CURRENT PERIOD

 

 

 

 

    Components requiring or generating resources in future periods

 

 

 

 

      Increase in annual leave liability

 

3,979

 

696

      Decrease in employee benefits and

 

 

 

 

        retirement liabilities

 

(572,516)

 

(357,144)

      Other

 

27,875

 

(10,551)

    Total

 

(540,662)

 

(366,999)

    Components not requiring or generating resources

 

 

 

 

      Depreciation and amortization

 

43,275

 

104,417

      Revaluation of assets and liabilities

 

472,304

 

324,682

      Benefit overpayments

 

(525,635)

 

(283,960)

    Total

 

(10,056)

 

145,139

Total components of the net cost of operations that will not

 

 

 

 

  require or generate resources in the current period

 

(550,718)

 

(221,860)

 

 

 

 

 

Net cost of operations

$

67,873,181

$

64,991,052

 

 

 

 

 

The accompanying notes are an integral part of these statements.

CONSOLIDATED STATEMENTS OF CUSTODIAL ACTIVITY

For the Years Ended September 30, 2003 and 2002

(Dollars in Thousands)

 

 

2003

 

 

2002

SOURCES OF CUSTODIAL REVENUE (Notes 1-V and 18)

   
 
 
 
 
 

  Cash collection of fines, penalties, assessments

   

    and related interest

$

119,911

$

114,078

  Less refunds

 

(102)

 

(26)

  Net cash collections

 

119,809

 

114,052

  Increase in amounts to be collected

 

2,291

 

(2,066)

 

 

 

 

 

Total sources of custodial revenue

 

122,100

 

111,986

 

 

 

 

 

DISPOSITION OF CUSTODIAL REVENUE (Note 1-V)

 

 

 

 

 

 

 

 

 

  Net transfers to U.S. Treasury general fund

 

119,809

 

114,052

  Increase in amounts to be transferred

 

2,291

 

(2,066)

 

 

 

 

 

Total disposition of custodial revenue

 

122,100

 

111,986

 

 

 

 

 

Net custodial activity

$

-

$

-

 

 

 

 

 

The accompanying notes are an integral part of these statements.

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