|
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) Circular No. A-136, "Financial Reporting Requirements." 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 KPMG LLP. The auditors' report accompanies the principal statements.
The Department's principal financial statements for fiscal years (FY) 2006 and 2005 consisted of the following:
- The Consolidated Balance Sheets, which present as of September 30, 2006 and 2005 those resources owned or managed by DOL that 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 present the net cost of DOL operations for the years ended September 30, 2006 and 2005. 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 14 to the consolidated financial statements.
- The Consolidated Statements of Changes in Net Position, which present the change in DOL's net position resulting from the net cost of DOL operations, budgetary financing sources other than exchange revenues, and other financing sources for the years ended September 30, 2006 and 2005.
- The Combined Statements of Budgetary Resources, which present the budgetary resources available to DOL during FY 2006 and 2005, the status of these resources at September 30, 2006 and 2005, the change in obligated balance during FY 2006 and 2005, and outlays of budgetary resources for the years ended September 30, 2006 and 2005.
- The Consolidated Statements of Financing, which reconcile the net cost of operations with the obligation of budgetary resources for the years ended September 30, 2006 and 2005.
- The Consolidated Statements of Custodial Activity, which present 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, 2006 and 2005.
- The Statements of Social Insurance, which present the net present value of projected cash inflows and cash outflows of the Black Lung Disability Trust Fund as of September 30, 2006, 2005, 2004, 2003, and 2002.
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
2006 |
|
2005 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Intra-governmental |
|
|
|
|
|
|
|
|
|
|
|
|
Funds with U.S. Treasury
(Notes 1-C and 2)
|
|
$9,717,149 |
|
$9,219,660 |
|
|
|
Investments (Notes 1-D
and 3) |
|
|
|
|
66,455,052 |
|
54,952,644 |
|
|
|
Interest receivable from investments |
|
|
|
745,556 |
|
637,443 |
|
|
|
Accounts receivable (Notes 1-E and 4) |
|
|
4,046,188 |
|
3,991,270 |
|
|
|
Advances (Notes 1-F and 5) |
|
|
4 |
|
10,812 |
|
|
Total intra-governmental |
|
|
|
|
|
80,963,949 |
|
68,811,829 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable, net of allowance (Notes 1-E
and 4) |
|
|
1,055,156 |
|
1,043,018 |
|
|
Advances (Notes 1-F and 5) |
|
|
|
|
555,294 |
|
584,139 |
|
|
Property, plant and equipment, net of depreciation
(Notes 1-G and 6) |
|
|
|
1,076,810 |
|
1,023,422 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
|
|
|
|
$83,651,209 |
|
$71,462,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND NET POSITION |
|
|
|
|
|
|
Liabilities (Note 1-I) |
|
|
|
|
|
|
|
|
|
|
|
Intra-governmental |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
|
|
|
|
$22,459 |
|
$16,429 |
|
|
|
Advances from U.S. Treasury (Notes 1-J and 8) |
|
9,631,557 |
|
9,186,557 |
|
|
|
Other liabilities (Note 11) |
|
|
|
|
205,385 |
|
206,101 |
|
|
Total intra-governmental |
|
|
|
|
|
9,859,401 |
|
9,409,087 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
|
|
|
|
891,828 |
|
1,111,031 |
|
|
Accrued leave (Note 1-K) |
|
|
|
|
|
97,522 |
|
94,852 |
|
|
Accrued benefits (Notes 1-L and 9) |
|
|
|
1,199,648 |
|
1,147,658 |
|
|
Future workers' compensation benefits (Notes 1-M
and 10) |
|
|
548,314 |
|
564,305 |
|
|
Energy employees occupational illness compensation benefits (Note 1-N) |
|
|
|
6,942,442 |
|
7,436,243 |
|
|
Other liabilities (Note 11) |
|
|
|
|
|
217,313 |
|
263,233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
|
|
|
|
19,756,468 |
|
20,026,409 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net position (Note 1-R) |
|
|
|
|
|
|
|
|
|
|
|
Unexpended appropriations - other funds |
|
|
|
|
8,193,767 |
|
8,115,461 |
|
|
Cumulative results of operations |
|
|
|
|
|
|
43,320,538 |
| |
|
Earmarked funds |
|
|
|
|
|
|
57,146,431 |
|
|
| |
|
Other funds |
|
|
|
|
|
|
(1,445,457) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net position |
|
|
|
|
|
|
63,894,741 |
|
51,435,999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and net position |
|
|
|
|
$83,651,209 |
|
$71,462,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in
Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
2006 |
|
2005 |
NET COST OF OPERATIONS (Notes 1-S
and 14) |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
CROSSCUTTING PROGRAMS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income maintenance |
|
|
|
|
|
|
|
|
|
|
|
Gross cost |
|
|
|
|
|
|
$40,661,833 |
|
$45,380,694 |
|
|
Less earned revenue |
|
|
|
|
|
|
(3,712,611) |
|
(3,144,410) |
|
|
|
Net program cost |
|
|
|
|
|
|
36,949,222 |
|
42,236,284 |
Employment and training |
|
|
|
|
|
|
|
|
|
|
Gross cost |
|
|
|
|
|
|
5,710,741 |
|
6,027,121 |
|
|
Less earned revenue |
|
|
|
|
|
|
(22,568) |
|
(17,737) |
|
|
|
Net program cost |
|
|
|
|
|
|
5,688,173 |
|
6,009,384 |
Labor, employment and pension standards |
|
|
|
|
|
|
|
Gross cost |
|
|
|
|
|
|
729,053 |
|
724,322 |
|
|
Less earned revenue |
|
|
|
|
|
|
(14,082) |
|
(9,971) |
|
|
|
Net program cost |
|
|
|
|
|
|
714,971 |
|
714,351 |
Worker safety and health |
|
|
|
|
|
|
|
|
|
|
Gross cost |
|
|
|
|
|
|
859,144 |
|
798,110 |
|
|
Less earned revenue |
|
|
|
|
|
|
(14,465) |
|
(3,690) |
|
|
|
Net program cost |
|
|
|
|
|
|
844,679 |
|
794,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER PROGRAMS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statistics |
|
|
|
|
|
|
|
|
|
|
|
Gross cost |
|
|
|
|
|
|
604,142 |
|
531,675 |
|
|
Less earned revenue |
|
|
|
|
|
|
(5,332) |
|
(6,664) |
|
|
|
Net program cost |
|
|
|
|
|
|
598,810 |
|
525,011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Costs not assigned to programs |
|
|
|
|
85,782 |
|
95,244 |
|
|
Less earned revenue not attributed to programs |
|
|
(7,608) |
|
(10,800) |
|
|
|
Net cost not assigned to programs |
|
|
|
78,174 |
|
84,444 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cost of operations |
|
|
|
|
|
|
$44,874,029 |
|
$50,363,894 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in Thousands) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative results of operations, beginning |
|
$45,353,214 |
|
$(2,032,676) |
|
$43,320,538 |
|
$39,154,009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Budgetary financing sources (Note 1-T) |
|
|
|
|
|
|
|
|
|
|
Appropriations used |
|
|
- |
|
9,925,600 |
|
9,925,600 |
|
10,336,749 |
|
|
Nonexchange revenue (Note 15) |
|
|
|
|
|
|
|
|
|
|
|
Employer taxes |
|
|
|
42,014,032 |
|
- |
|
42,014,032 |
|
40,571,621 |
|
|
|
Interest |
|
|
|
|
2,784,058 |
|
7,825 |
|
2,791,883 |
|
2,593,415 |
|
|
|
Assessments |
|
|
|
- |
|
149,829 |
|
149,829 |
|
145,315 |
|
|
|
Reimbursement of unemployment benefits |
|
1,855,188 |
|
|
|
1,855,188 |
|
|
|
|
Total nonexchange revenue |
|
46,653,278 |
|
157,654 |
|
46,810,932 |
|
45,167,544 |
|
|
Transfers without reimbursement (Note 16) |
|
|
(3,290,737) |
|
3,684,560 |
|
393,823 |
|
3,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other financing sources
(Note 1-U) |
|
|
|
|
|
|
|
|
|
Imputed financing from costs absorbed by others |
|
|
|
238 |
|
122,544 |
|
122,782 |
|
108,742 |
|
|
Transfers without reimbursement (Note 16) |
|
|
- |
|
1,328 |
|
1,328 |
|
(1,085,612) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total financing sources |
|
|
43,362,779 |
|
13,891,686 |
|
57,254,465 |
|
54,530,423 |
Net cost of operations |
|
|
(31,569,562) |
|
(13,304,467) |
|
(44,874,029) |
|
(50,363,894) |
Net change |
|
|
11,793,217 |
|
587,219 |
|
12,380,436 |
|
4,166,529 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative results of operations, ending |
|
|
|
$57,146,423 |
|
$(1,445,457) |
|
$55,700,974 |
|
$43,320,538 |
| |
|
|
|
|
|
|
|
|
|
|
Unexpended appropriations, beginning |
|
|
|
$- |
|
$8,115,461 |
|
$8,115,461 |
|
$8,299,897 |
| |
|
|
|
|
|
|
|
|
|
|
|
Budgetary financing sources (Note 1-T) |
|
|
|
|
|
|
|
|
|
|
Appropriations received (Note 17-F) |
|
|
|
- |
|
10,703,673 |
|
10,703,673 |
|
11,100,600 |
|
|
Appropriations transferred |
|
|
|
|
- |
|
(600,895) |
|
(600,895) |
|
(622,286) |
|
|
Appropriations not available |
|
|
|
- |
|
(98,872) |
|
(98,872) |
|
(326,001) |
|
|
Appropriations used |
|
|
|
- |
|
(9,925,600) |
|
(9,925,600) |
|
(10,336,749) |
|
|
Subtotal |
|
- |
|
78,306 |
|
78,306 |
|
(184,436) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unexpended appropriations, ending |
|
|
|
- |
|
8,193,767 |
|
8,193,767 |
|
8,115,461 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Position |
|
|
|
$57,146,431 |
|
$6,748,310 |
|
$63,894,741 |
|
$51,435,999 |
| |
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
2006 |
|
2005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BUDGETARY RESOURCES |
|
|
|
|
|
Unobligated balance, brought forward, October 1 |
|
$3,872,075 |
|
$3,577,791 |
|
Recoveries of prior year unpaid obligations |
|
399,780 |
|
408,672 |
|
Budget authority |
|
|
|
|
|
|
Appropriations received (Note 17-F) |
|
58,971,002 |
|
57,248,865 |
|
|
Borrowing authority |
|
445,000 |
|
446,000 |
|
|
Spending authority from offsetting collections |
|
|
|
|
|
|
|
Earned |
|
|
|
|
|
|
|
|
Collected |
|
3,106,611 |
|
2,545,382 |
|
|
|
|
Change in receivables from Federal sources |
|
(47,510) |
|
57,700 |
|
|
|
Change in unfilled customer orders |
|
|
|
|
|
|
|
|
Advanced received |
|
(1,816) |
|
10,756 |
|
|
|
|
Without advance from Federal sources |
|
(825) |
|
- |
|
|
|
Expenditure transfers from trust funds |
|
3,683,587 |
|
3,873,716 |
|
|
Total budget authority |
|
66,156,049 |
|
64,182,419 |
|
|
Nonexpenditure transfers, net |
|
(522,731) |
|
(387,330) |
|
|
Temporarily not available pursuant to Public Law |
|
(11,819,982) |
|
(9,296,717) |
|
|
Permanently not available |
|
(449,404) |
|
(496,197) |
Total budgetary resources |
|
$57,635,787 |
|
$57,988,638 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STATUS OF BUDGETARY RESOURCES |
|
|
|
|
|
Obligations incurred (Note 17-A) |
|
|
|
|
|
|
Direct |
|
$50,344,367 |
|
$51,333,636 |
|
|
Reimbursable |
|
3,095,134 |
|
2,782,927 |
|
Total obligations incurred |
|
53,439,501 |
|
54,116,563 |
|
Unobligated balances available |
|
|
|
|
|
|
Apportioned |
|
2,528,068 |
|
2,548,305 |
|
|
Exempt from apportionment |
|
212,629 |
|
175,310 |
|
Total unobligations balances |
|
2,740,697 |
|
2,723,615 |
|
Unobligated balances not available |
|
1,455,589 |
|
1,148,460 |
Total status of budgetary resources |
|
$57,635,787 |
|
$57,988,638 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHANGE IN OBLIGATED BALANCE |
|
|
|
|
|
|
Obligated balance, net |
|
|
|
|
|
|
Unpaid obligations, brought forward, October 1 |
|
$9,482,832 |
|
$9,856,452 |
|
|
Less uncollected customer payments from Federal sources, brought forward, October 1 |
|
(1,473,680) |
|
(1,344,626) |
|
Total unpaid obligated balance, net |
|
8,009,152 |
|
8,511,826 |
|
Obligations incurred, net |
|
53,439,501 |
|
54,116,563 |
|
Less gross outlays |
|
(53,502,109) |
|
(54,081,511) |
|
Less recoveries of prior year unpaid obligations, actual |
|
(399,780) |
|
(408,672) |
|
Change in uncollected customer payments from Federal sources |
|
236,828 |
|
(129,054) |
|
Obligated balance, net, end of period |
|
|
|
|
|
|
Unpaid obligations |
|
9,020,444 |
|
9,482,832 |
|
|
Less uncollected customer payments from Federal sources |
|
(1,236,852) |
|
(1,473,680) |
|
Total unpaid obligated balance, net, end of period |
|
$7,783,592 |
|
$8,009,152 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET OUTLAYS |
|
|
|
|
|
|
Gross outlays |
|
$53,502,109 |
|
$54,081,511 |
|
|
Less offsetting collections |
|
(6,985,536) |
|
(6,358,706) |
|
|
Less distributed offsetting receipts |
|
(855,746) |
|
(829,392) |
|
|
Net outlays |
|
$45,660,827 |
|
$46,893,413 |
|
(Dollars in Thousands) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
2006 |
|
2005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RESOURCES USED TO FINANCE ACTIVITIES |
|
|
|
|
Budgetary resources obligated |
|
|
|
|
|
|
|
|
|
Obligations incurred |
|
|
|
|
|
|
$53,439,501 |
|
$54,116,563 |
|
|
Less recoveries of prior year obligations |
|
|
|
(399,780) |
|
(408,672) |
|
|
Less spending authority from offsetting collections |
|
|
(6,740,047) |
|
(6,487,554) |
|
Obligations, net of offsetting collections and recoveries |
|
|
46,299,674 |
|
47,220,337 |
|
Less offsetting receipts |
|
|
(855,746) |
|
(829,392) |
|
|
Net obligations |
|
|
45,443,928 |
|
46,390,945 |
Other resources |
|
|
|
|
|
|
|
|
|
|
|
Imputed financing from costs absorbed by others |
|
|
122,782 |
|
108,742 |
|
|
Transfers, net |
|
|
|
|
|
|
1,328 |
|
(1,085,612) |
|
|
Exchange revenue not in budget |
|
|
(110,908) |
|
(6,874) |
|
|
Trust fund exchange revenue |
|
|
|
|
9,216 |
|
(10,319) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total resources used to finance activities |
|
|
45,466,346 |
|
45,396,882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
139,777 |
|
536,240 |
|
|
Resources that fund expenses recognized in prior periods |
</ | |
