{name: STM0P093 pages: USER ID : DATE: 2001-06-18 TIME: 18.51.48 PAGE 1(1) 1 FINANCIAL MANAGEMENT SERVICE STAR - TREASURY FINANCIAL DATABASE TABLE 8. TRUST FUND IMPACT ON BUDGET RESULTS AND INVESTMENT HOLDINGS (IN MILLIONS) ACCOUNTING DATE: 05/01 FYTD FYTD FYTD CLASSIFICATION RECEIPTS OUTLAYS EXCESS + _________________________________________________________________ _____________________ _____________________ _____________________ TRUST RECEIPTS, OUTLAYS, AND INVESTMENTS HELD: AIRPORT AND AIRWAY 6,178 6,158 20 BLACK LUNG DISABILITY 307 295 12 FEDERAL DISABILITY INSURANCE 53,794 40,093 13,701 FEDERAL EMPLOYEES LIFE AND HEALTH ...... -1,568 1,568 FEDERAL EMPLOYEES RETIREMENT 30,070 31,795 -1,725 FEDERAL HOSPITAL INSURANCE 112,173 92,687 19,486 FEDERAL OLD-AGE AND SURVIVORS INSURANCE 331,875 244,637 87,238 FEDERAL SUPPLEMENTARY MEDICAL INSURANCE 63,309 63,537 -227 HAZARDOUS SUBSTANCE SUPERFUND 850 801 48 HIGHWAYS 19,083 22,834 -3,751 MILITARY ADVANCES 6,458 6,628 -170 MILITARY RETIREMENT 36,010 22,629 13,381 RAILROAD RETIREMENT 4,797 5,549 -752 UNEMPLOYMENT 24,911 20,193 4,718 VETERANS LIFE INSURANCE 566 807 -241 ALL OTHER TRUST 3,102 7,387 -4,285 ;BTOTAL TRUST FUND RECEIPTS AND OUTLAYS AND INVESTMENTS HELD FROM TABLE 6-D 693,482 564,459 129,023 LESS: INTERFUND TRANSACTIONS 201,619 201,619 ...... ;BTRUST FUND RECEIPTS AND OUTLAYS ON THE BASIS OF TABLES 4 & 5 491,863 362,840 129,023 ;CTOTAL FEDERAL FUND RECEIPTS AND OUTLAYS 886,407 878,347 8,060 LESS: INTERFUND TRANSACTIONS 245 245 ...... ;BFEDERAL FUND RECEIPTS AND OUTLAYS ON THE BASIS OF TABLE 4 & 5 886,162 878,102 8,060 ;CNET BUDGET RECEIPTS & OUTLAYS 1,378,024 1,240,942 137,082 - - - } {name: STM0P093 pages: USER ID : DATE: 2001-06-18 TIME: 18.51.48 PAGE 1(2) 1 FINANCIAL MANAGEMENT SERVICE STAR - TREASURY FINANCIAL DATABASE TABLE 8. TRUST FUND IMPACT ON BUDGET RESULTS AND INVESTMENT HOLDINGS (IN MILLIONS) ACCOUNTING DATE: 05/01 SEC. HELD AS INVEST. SEC. HELD AS INVEST. SEC. HELD AS INVEST. CLASSIFICATION BEG. OF THIS YEAR BEG. OF THIS MONTH CLOSE OF THIS MONTH + _________________________________________________________________ _____________________ _____________________ _____________________ TRUST RECEIPTS, OUTLAYS, AND INVESTMENTS HELD: AIRPORT AND AIRWAY 13,097 13,744 13,873 BLACK LUNG DISABILITY ...... ...... ...... FEDERAL DISABILITY INSURANCE 113,707 126,445 127,316 FEDERAL EMPLOYEES LIFE AND HEALTH 28,362 29,369 29,934 FEDERAL EMPLOYEES RETIREMENT 523,200 524,523 521,471 FEDERAL HOSPITAL INSURANCE 168,859 188,703 188,389 FEDERAL OLD-AGE AND SURVIVORS INSURANCE 893,519 976,216 980,716 FEDERAL SUPPLEMENTARY MEDICAL INSURANCE 45,075 46,763 45,174 HAZARDOUS SUBSTANCE SUPERFUND 4,126 4,089 4,135 HIGHWAYS 31,023 25,896 26,767 MILITARY ADVANCES ...... ...... ...... MILITARY RETIREMENT 149,348 160,525 163,574 RAILROAD RETIREMENT 24,823 25,773 26,838 UNEMPLOYMENT 86,399 81,894 91,182 VETERANS LIFE INSURANCE 13,587 13,437 13,344 ALL OTHER TRUST 14,088 14,089 14,054 ;BTOTAL TRUST FUND RECEIPTS AND OUTLAYS AND INVESTMENTS HELD FROM TABLE 6-D 2,109,212 2,231,466 2,246,767 LESS: INTERFUND TRANSACTIONS ...... ...... ...... ;BTRUST FUND RECEIPTS AND OUTLAYS ON THE BASIS OF TABLES 4 & 5 ;CTOTAL FEDERAL FUND RECEIPTS AND OUTLAYS LESS: INTERFUND TRANSACTIONS ;BFEDERAL FUND RECEIPTS AND OUTLAYS ON THE BASIS OF TABLE 4 & 5 ;CNET BUDGET RECEIPTS & OUTLAYS - - - } {name: STM0P093 pages: USER ID : DATE: 2001-06-18 TIME: 18.51.48 PAGE 1(3) 1 FINANCIAL MANAGEMENT SERVICE STAR - TREASURY FINANCIAL DATABASE TABLE 9. SUMMARY OF RECEIPTS BY SOURCE, AND OUTLAYS BY FUNCTION OF THE U.S. GOVERNMENT (IN MILLIONS) ACCOUNTING DATE: 05/01 FISCAL YEAR COMPARABLE PERIOD CLASSIFICATION THIS MONTH TO DATE PRIOR FISCAL YEAR + _________________________________________________________________ _____________________ _____________________ _____________________ NET RECEIPTS INDIVIDUAL INCOME TAXES 46,718 703,999 665,267 CORPORATION INCOME TAXES 5,103 110,261 113,631 SOCIAL INSURANCE AND RETIREMENT RECEIPTS: EMPLOYMENT AND GENERAL RETIREMENT 52,210 440,324 409,464 UNEMPLOYMENT INSURANCE 8,786 21,697 21,433 OTHER RETIREMENT 441 3,221 3,158 EXCISE TAXES 4,390 42,657 43,402 ESTATE AND GIFT TAXES 2,485 20,325 20,579 CUSTOMS DUTIES 1,501 12,800 12,471 MISCELLANEOUS RECEIPTS 3,559 22,741 29,089 ;ATOTAL 125,194 1,378,024 1,318,493 NET OUTLAYS NATIONAL DEFENSE 26,028 198,871 191,666 INTERNATIONAL AFFAIRS -1,490 12,180 12,652 GENERAL SCIENCE, SPACE, AND TECHNOLOGY 1,892 13,571 12,776 ENERGY -25 -1,725 -1,389 NATURAL RESOURCES AND ENVIRONMENT 2,136 15,458 14,581 AGRICULTURE 711 22,128 28,029 COMMERCE AND HOUSING CREDIT -907 -884 838 TRANSPORTATION 4,850 32,122 29,110 COMMUNITY AND REGIONAL DEVELOPMENT 928 7,227 7,917 EDUCATION, TRAINING, EMPLOYMENT AND SOCIAL SERVICES 5,907 45,398 41,295 HEALTH 14,954 112,543 100,245 MEDICARE 19,601 140,588 130,449 INCOME SECURITY 21,609 184,166 174,599 SOCIAL SECURITY 36,275 283,842 267,723 VETERANS BENEFITS AND SERVICES 2,865 28,938 30,586 ADMINISTRATION OF JUSTICE 2,450 20,155 18,567 GENERAL GOVERNMENT 849 9,796 8,476 NET INTEREST 18,363 146,350 155,076 UNDISTRIBUTED OFFSETTING RECEIPTS -3,882 -29,782 -25,351 ;BTOTAL 153,112 1,240,942 1,197,845 - - MONTHLY TREASURY STATEMENT of Receipts and Outlays of the United States Government For Fiscal Year 2001 Through May 31, 2001, and Other Periods HIGHLIGHT The impact of large individual tax deposits resulted in budget receipts of $331.8 billion and a surplus of $189.8 billion, a record high for both categories. INTRODUCTION The Monthly Treasury Statement of Receipts and Outlays of the United States Government(MTS) is prepared by the Financial Management Service, Department of the Treasury, and after approval by the Fiscal Assistant Secretary of the Treasury, is normally released on the 15th workday of the month following the reporting month. The publication is based on data provided by Federal entities, disbursing officers, and Federal Reserve banks. AUDIENCE The MTS is published to meet the needs of: Those responsible for or interested in the cash position of the Treasury; Those who are responsible or interested in the Government's budget results; and individuals and businesses whose operations depend upon or are related to the Government's financial operations. DISCLOSURE STATEMENT This statement summarizes the financial activities of the Federal Government and off-budget Federal entities conducted in accordance with the Budget of the U.S. Government, i.e. receipts and outlays of funds, the surplus or deficit, and the means of financing the deficit or disposing of the surplus. Information is presented on a modified cash basis; receipts are accounted for on the basis of collections; refunds of receipts are treated as deductions from gross receipts; revolving and management fund receipts, reimbursements and refunds of monies previously expended are treated as deductions from gross outlays; and interest on the public debt (public issues) is recognized on the accrual basis. Major information sources include accounting data reported by Federal entities, disbursing officers, and Federal Reserve banks. TRIAD OF PUBLICATIONS The MTS is part of a triad of Treasury financial reports. The Daily Treasury Statement is published each working day of the Federal Government. It provides data on the cash and debt operations of the Treasury based upon reporting of the Treasury account balances by Federal Reserve banks. The MTS is a report of Government receipts and outlays, based on agency reporting. The U.S. Government Annual Report is the official publication of the detailed receipts and outlays of the Government. It is published annually in accordance with legislative mandates given to the Secretary of the Treasury. DATA SOURCES AND INFORMATION The Explanatory Notes section of this publication provides information concerning the flow of data into the MTS and sources of information relevant to the MTS. FOOTNOTES TABLE 1 The receipt, outlay and deficit figures differ from the FY 2002 Budget, released by the Office of Management and Budget on April 9, 2001, by -$525 million due mainly to revisions in the data following the release of the Final Monthly Treasury Statement. Note: Details may not add to totals due to rounding. TABLE 2 These figures are based on the FY 2002 Budget, released by the Office of Management and Budget on April 9, 2001. ...... No Transactions TABLE 3 These figures are based on the FY 2002 Budget, released by the Office of Management and Budget on April 9, 2001. Note: Details may not add to totals due to rounding. ...... No Transactions TABLE 4 ...... No Transactions (* *) Less than $500,000 Note: Details may not add to totals due to rounding. TABLE 5 Includes FICA and SECA tax credits, non-contributory military service credits, special benefits for the aged, and credit for the unnegotiated OASI benefit checks. The Postal Service accounting is composed of thirteen 28-day periods. To conform with the MTS calendar-month reporting basis used by all other Federal agencies, the MTS reflects USPS results through May 20th and estimates for $884 million through May 31st. ...... No Transactions (**) Less than $500,000 Note: Details may not add to totals due to rounding. TABLE 6 Effective with the current statement, the total amount outstanding for Treasury Securities, has been categorized as either "Debt Held by the Public" or "Intragovernmental Holdings". Includes prior period adjustments, by the Bureau of Public Debt, for $83 million and $48 million in fiscal years 2000 and 2001, respectively. Major sources of information used to determine Treasury's operating cash income include Federal Reserve Banks, the Treasury Regional Finance Centers, the Internal Revenue Service Centers, the Bureau of the Public Debt and various electronic systems. Deposits are reflected as received and withdrawals are reflected as processed. ...... No Transactions (**) Less than $500,000 Note: Details may not add to totals due to rounding. TABLE 6A ...... No Transactions (* *) Less than $500,000 Note: Details may not add to totals due to rounding. TABLE 6B ...... No Transactions (* *) Less than $500,000 Note: Details may not add to totals due to rounding. TABLE 6C Note: This table includes lending by the Federal Financing Bank accomplished by the purchase of agency financial assets, by the acquisition of agency debt securities, and by the direct loans on behalf of an agency. The Federal Financing Bank borrows from Treasury and issues its own securities and in turn may loan these funds to agencies in lieu of agencies borrowing directly through Treasury or issuing their own securities. ...... No Transactions (* *) Less than $500,000 Note: Details may not add to totals due to rounding. TABLE 6D ...... No Transactions (* *) Less than $500,000 Note: Investments are in public debt securities unless otherwise noted. Note: Details may not add to totals due to rounding. TABLE 6E Note: Federal credit programs provide benefits to the public in the form of direct loans and loan guarantees. This table reflects cash transactions and balances of the nonbudgetary financing fund accounts that result from the disbursement of loans, collection of fees, repayment of principle, sale of collateral, interest, and subsidy received from the credit program accounts at net present value in accordance with the Credit Reform Act of 1990. Unreimbursed costs such as administrative expenses and subsidy payments are reported on a cash basis and included within each programs budgetary totals in Table 5. ...... No Transactions (* *) Less than $500,000 Note: Details may not add to totals due to rounding. TABLE 7 ...... No Transactions (* *) Less than $500,000 Note: Details may not add to totals due to rounding. TABLE 8 Note: Interfund receipts and outlays are transactions between Federal funds and trust funds such as Federal payments and contributions, and interest and profits on investments in Federal securities. They have no net effect on overall budget receipts and outlays since the receipt side of such transactions is offset against budget outlays. In this table, Interfund receipts are shown as an adjustment to arrive at total receipts and outlays of trust funds respectively. ...... No Transactions Note: Details may not add to totals due to rounding. TABLE 9 Note: Details may not add to totals due to rounding. ...... No Transactions EXPLANATORY NOTES 1. Flow of Data into Monthly Treasury Statement The Monthly Treasury Statement (MTS) is assembled from data in the central accounting system. The major sources of data include monthly accounting reports by Federal entities and disbursing officers, and daily reports from the Federal Reserve banks. These reports detail accounting transactions affecting receipts and outlays of the Federal Government and off-budget Federal entities, and their related effect on the assets and liabilities of the U.S. Government. Information is presented in the MTS on a modified cash basis. 2. Notes on Receipts Receipts included in the report are classified into the following major categories: (1) budget receipts and (2) offsetting collections (also called applicable receipts). Budget receipts are collections from the public that result from the exercise of the Government's sovereign or governmental powers, excluding receipts offset against outlays. These collections, also called governmental receipts, consist mainly of tax receipts (including social insurance taxes), receipts from court fines, certain licenses, and deposits of earnings by the Federal Reserve System. Refunds of receipts are treated as deductions from gross receipts. Offsetting collections are from other Government accounts or the public that are of a business-type or market-oriented nature. They are classified into two major categories: (1) offsetting collections credited to appropriations or fund accounts, and (2) offsetting receipts (i.e.,amounts deposited in receipt accounts). Collections credited to appropriation or fund accounts normally can be used without appropriation action by Congress. These occur in two instances :(1) when authorized by law, amounts collected for materials or services are treated as reimbursements to appropriations and (2) in the three types of revolving funds (public enterprise, intra governmental, and trust); collections are netted against spending, and outlays are reported as the net amount. Offsetting receipts in receipt accounts cannot be used without being appropriated. They are subdivided into two categories: (1) proprietary receipts - these collections are from the public and they are offset against outlays by agency and by function, and (2) intra governmental funds - these are payments into receipt accounts from Governmental appropriation or fund accounts. The transactions may be intrabudgetary when the payment and receipt both occur within the budget or from receipts from off-budget Federal entities in those cases where payment is made by a Federal entity whose budget authority and outlays are excluded from the budget totals. Intrabudgetary transactions are subdivided into three categories: (1) interfund transactions, where the payments are from one fund group (either Federal funds or trust funds) to a receipt account in the other fund group; (2) Federal intrafund transactions, where the payments and receipts both occur within the Federal fund group; and (3) trust intrafund transactions, where the payments and receipts both occur within the trust fund group. Offsetting receipts are generally deducted from budget authority and outlays by function, by subfunction, or by agency. There are four types of receipts, however, that are deducted from budget totals as undistributed offsetting receipts. They are: (1) agencies' payments (including payments by off-budget Federal entities) as employers into employees retirement funds, (2)interest received by trust funds, (3) rents and royalties on the Outer Continental Shelf lands, and(4) other interest (i.e., interest collected on Outer Continental Shelf money in deposit funds when such money is transferred into the budget). 3. Notes on Outlays Outlays are generally accounted for on the basis of checks issued, electronic funds transferred, or cash payments made. Certain outlays do not require issuance of cash or checks. An example is charges made against appropriations for that part of employees' salaries withheld for taxes or savings bond allotments - these are counted as payments to the employee and credits for whatever purpose the money was withheld. Outlays are stated net of offsetting collections (including receipts of revolving and management funds) and of refunds. Interest on the public debt (public issues) is recognized on the accrual basis. Federal credit programs subject to the Federal Credit Reform Act of 1990 use the cash basis of accounting and are divided into two components. The portion of the credit activities that involve a cost to the Government (mainly subsidies) is included within the budget program accounts. The remaining portion of the credit activities are in non-budget financing accounts. Outlays of off-budget Federal entities are excluded by law from budget totals. However, they are shown separately and combined with the on-budget outlays to display total Federal outlays. 4. Processing The data on payments and collections are reported by account symbol into the central accounting system. In turn, the data are extracted from this system for use in the preparation of the MTS. There are two major checks which are conducted to assure consistency of the data reported: 1. Verification of payment data. The monthly payment activity reported by Federal entities on the Statements of Transactions is compared to the payment activity of Federal entities as reported by disbursing officers. 2. Verification of collection data. Reported collections appearing on Statements of Transactions are compared to deposits as reported by Federal Reserve Banks. 5. Other Sources of Information About Federal Government Financial Activities A Glossary of Terms Used in the Federal Budget Process, January 1993. This glossary provides a basic reference document of standardized definitions of terms used by the Federal Government in the budget making process. Daily Treasury Statement. The Daily Treasury Statement is published each working day of the Federal Government and provides data on the cash and debt operations of the Treasury. Monthly Statement of the Public Debt. This publication provides detailed information concerning the public debt. Treasury Bulletin. Quarterly. Contains a mix of narrative, tables, and charts on Treasury issues, Federal financial operations, international statistics, and special reports. Budget of the United States Government, Fiscal Year 20__. This publication is a single volume which provides budget information and contains: -Appendix, The Budget of the United States Government, FY 20__ -The United States Budget in Brief, FY 20__ -Special Analyses -Historical Tables -Management of the United States Government -Major Policy Initiatives United States Government Annual Report and Appendix. This annual report represents budgetary results at the summary level. The appendix presents the individual receipt and appropriation accounts at the detail level. SCHEDULED RELEASE The release date for the June 2001 Statement will be 2:00 pm EST July 20, 2001. 0}