{name: STM0P087
pages:  USER ID  :     
 DATE: 2004-01-13 TIME: 18.42.09                                                                                         PAGE   1(1)
1                                                    FINANCIAL MANAGEMENT SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
                TABLE 6.  MEANS OF FINANCING THE DEFICIT OR DISPOSITION OF SURPLUS BY THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  12/03

                                                                          NET TRANS             NET TRANS             NET TRANS
  CLASSIFICATION                                                         THIS MONTH          FYTD THIS YEAR        FYTD PRIOR YEAR
+ _________________________________________________________________ _____________________ _____________________ _____________________

       ;CTOTAL LIABILITY ACCOUNTS                                                  17,769               122,201                98,495

  ;CASSET ACCOUNTS (DEDUCT)
    CASH AND MONETARY ASSETS:
      U.S. TREASURY OPERATING CASH:

        FEDERAL RESERVE ACCOUNT                                                      -189                -1,501                -3,459
        TAX AND LOAN NOTE ACCOUNTS                                                 11,974                  -277               -24,422

          ;ABALANCE                                                                11,785                -1,778               -27,881

      SPECIAL DRAWING RIGHTS:

        TOTAL HOLDINGS                                                                395                   575                   456
        SDR CERTIFICATES ISSUED TO FEDERAL RESERVE BANKS                           ......                ......                ......

          ;ABALANCE                                                                   395                   575                   456

      RESERVE POSITION ON THE U.S. QUOTA IN THE IMF:
        U.S. SUBSCRIPTION TO INTERNATIONAL MONETARY FUND:

          DIRECT QUOTA PAYMENTS                                                    ......                ......                ......
          MAINTENANCE OF VALUE ADJUSTMENTS                                          1,723                 2,087                 1,368
        LETTER OF CREDIT ISSUED TO IMF                                             -1,823                -2,434                   517
        DOLLAR DEPOSITS WITH THE IMF                                                  -17                   -16                    19

        RECEIVABLE/PAYABLE (-) FOR INTERIM MAINTENANCE

         OF VALUE ADJUSTMENTS                                                        -983                -1,184                  -788

          ;ABALANCE                                                                -1,099                -1,547                 1,116

      LOANS TO INTERNATIONAL MONETARY FUND                                         ......                ......                ......
      OTHER CASH AND MONETARY ASSETS                                               -8,939                -2,794                 9,197

        ;CTOTAL CASH AND MONETARY ASSETS                                            2,141                -5,544               -17,112

    ;CNON-FEDERAL SECURITIES OF THE NATIONAL RAILROAD

     RETIREMENT INVESTMENT TRUST                                                      451                   361                 8,759
    NET ACTIVITY, GUARANTEED LOAN FINANCING                                        -1,092                -1,259                  -464
    NET ACTIVITY, DIRECT LOAN FINANCING                                              -286                -1,193                  -239
    MISCELLANEOUS ASSET ACCOUNTS                                                      401                 1,166                  -656

       ;CTOTAL ASSET ACCOUNTS                                                       1,615                -6,469                -9,713
0}
{name: STM0P087
pages:  USER ID  :     
 DATE: 2004-01-13 TIME: 18.42.09                                                                                         PAGE   2(1)
1                                                    FINANCIAL MANAGEMENT SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
                TABLE 6.  MEANS OF FINANCING THE DEFICIT OR DISPOSITION OF SURPLUS BY THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  12/03

                                                                          NET TRANS             NET TRANS             NET TRANS
  CLASSIFICATION                                                         THIS MONTH          FYTD THIS YEAR        FYTD PRIOR YEAR
+ _________________________________________________________________ _____________________ _____________________ _____________________
  ;CEXCESS OF LIABILITIES (+) OR ASSETS (-)                                        16,153               128,670               108,209

  ;CTRANSACTIONS NOT APPLIED TO CURRENT YEAR'S SURPLUS

   OR DEFICIT (SEE SCHEDULE A FOR DETAILS)                                           (**)                  (**)                ......

  ;CTOTAL BUDGET AND OFF-BUDGET FEDERAL ENTITIES
   (FINANCING OF DEFICIT (+) OR DISPOSITION OF

    SURPLUS (-))                                                                   16,153               128,670               108,209
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{name: STM0P087
pages:  USER ID  :     
 DATE: 2004-01-13 TIME: 18.42.09                                                                                         PAGE   3(1)
1                                                    FINANCIAL MANAGEMENT SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
                TABLE 6.  MEANS OF FINANCING THE DEFICIT OR DISPOSITION OF SURPLUS BY THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  12/03

                                                                      ACCOUNT BALANCES      ACCOUNT BALANCES      ACCOUNT BALANCES
  CLASSIFICATION                                                      BEG. OF THIS YEAR    BEG. OF THIS MONTH    CLOSE OF THIS MONTH
+ _________________________________________________________________ _____________________ _____________________ _____________________
  LIABILITY ACCOUNTS:
    BORROWING FROM THE PUBLIC:
      TREASURY SECURITIES, ISSUED UNDER GENERAL
       FINANCING AUTHORITIES:

        DEBT HELD BY THE PUBLIC                                                 3,924,090             4,032,905             4,044,244
        INTRAGOVERNMENTAL HOLDINGS                                              2,859,230             2,892,161             2,953,720

          ;BTOTAL TREASURY SECURITIES OUTSTANDING                               6,783,320             6,925,065             6,997,964

            ;CPLUS PREMIUM ON TREASURY SECURITIES                                   4,181                 4,089                 4,043
            LESS DISCOUNT ON TREASURY SECURITIES                                   54,731                54,849                54,530

              ;CTOTAL TREASURY SECURITIES NET OF

               PREMIUM AND DISCOUNT                                             6,732,770             6,874,305             6,947,478

      ;CAGENCY SECURITIES, ISSUED UNDER SPECIAL FINANCING
       AUTHORITIES (SEE SCHEDULE B. FOR OTHER AGENCY

        BORROWING, SEE SCHEDULE C)                                                 26,933                26,502                25,406

        ;CTOTAL FEDERAL SECURITIES                                              6,759,702             6,900,808             6,972,884

          ;CDEDUCT:
            FEDERAL SECURITIES HELD AS INVESTMENTS

             OF GOVERNMENT ACCOUNTS (SEE SCHEDULE D)                            2,859,291             2,893,152             2,954,451

              LESS DISCOUNT ON FEDERAL SECURITIES HELD AS

               INVESTMENTS OF GOVERNMENT ACCOUNTS                                  14,054                14,692                14,629

                ;BNET FEDERAL SECURITIES HELD AS INVESTMENTS

                 OF GOVERNMENT ACCOUNTS                                         2,845,237             2,878,460             2,939,822
                  ;CTOTAL BORROWING FROM THE PUBLIC                             3,914,465             4,022,348             4,033,062

    ;CACCRUED INTEREST PAYABLE TO THE PUBLIC                                       31,806                25,612                33,061
    ALLOCATIONS OF SPECIAL DRAWING RIGHTS                                           7,005                 7,053                 7,281
    DEPOSIT FUNDS                                                                   9,941                 9,880                10,030

    MISCELLANEOUS LIABILITY ACCOUNTS (INCLUDES CHECKS

     OUTSTANDING ETC.)                                                              7,282                10,039                 9,266
-}
{name: STM0P087
pages:  USER ID  :     
 DATE: 2004-01-13 TIME: 18.42.09                                                                                         PAGE   1(2)
1                                                    FINANCIAL MANAGEMENT SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
                TABLE 6.  MEANS OF FINANCING THE DEFICIT OR DISPOSITION OF SURPLUS BY THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  12/03

                                                                      ACCOUNT BALANCES      ACCOUNT BALANCES      ACCOUNT BALANCES
  CLASSIFICATION                                                      BEG. OF THIS YEAR    BEG. OF THIS MONTH    CLOSE OF THIS MONTH
+ _________________________________________________________________ _____________________ _____________________ _____________________

       ;CTOTAL LIABILITY ACCOUNTS                                               3,970,499             4,074,931             4,092,700

  ;CASSET ACCOUNTS (DEDUCT)
    CASH AND MONETARY ASSETS:
      U.S. TREASURY OPERATING CASH:

        FEDERAL RESERVE ACCOUNT                                                     7,224                 5,912                 5,723
        TAX AND LOAN NOTE ACCOUNTS                                                 27,735                15,484                27,458

          ;ABALANCE                                                                34,960                21,396                33,181

      SPECIAL DRAWING RIGHTS:

        TOTAL HOLDINGS                                                             12,062                12,243                12,638
        SDR CERTIFICATES ISSUED TO FEDERAL RESERVE BANKS                           -2,200                -2,200                -2,200

          ;ABALANCE                                                                 9,862                10,043                10,438

      RESERVE POSITION ON THE U.S. QUOTA IN THE IMF:
        U.S. SUBSCRIPTION TO INTERNATIONAL MONETARY FUND:

          DIRECT QUOTA PAYMENTS                                                    46,525                46,525                46,525
          MAINTENANCE OF VALUE ADJUSTMENTS                                          6,591                 6,955                 8,678
        LETTER OF CREDIT ISSUED TO IMF                                            -27,955               -28,566               -30,389
        DOLLAR DEPOSITS WITH THE IMF                                                 -128                  -127                  -144

        RECEIVABLE/PAYABLE (-) FOR INTERIM MAINTENANCE

         OF VALUE ADJUSTMENTS                                                        -961                -1,162                -2,145

          ;ABALANCE                                                                24,072                23,624                22,524

      LOANS TO INTERNATIONAL MONETARY FUND                                         ......                ......                ......
      OTHER CASH AND MONETARY ASSETS                                               45,999                52,144                43,205

        ;CTOTAL CASH AND MONETARY ASSETS                                          114,893               107,207               109,349

    ;CNON-FEDERAL SECURITIES OF THE NATIONAL RAILROAD

     RETIREMENT INVESTMENT TRUST                                                   22,839                22,749                23,200
    NET ACTIVITY, GUARANTEED LOAN FINANCING                                       -15,555               -15,722               -16,814
    NET ACTIVITY, DIRECT LOAN FINANCING                                           145,801               144,894               144,608
    MISCELLANEOUS ASSET ACCOUNTS                                                      -55                   711                 1,112

       ;CTOTAL ASSET ACCOUNTS                                                     267,923               259,839               261,454
0}
{name: STM0P087
pages:  USER ID  :     
 DATE: 2004-01-13 TIME: 18.42.09                                                                                         PAGE   2(2)
1                                                    FINANCIAL MANAGEMENT SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
                TABLE 6.  MEANS OF FINANCING THE DEFICIT OR DISPOSITION OF SURPLUS BY THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  12/03

                                                                      ACCOUNT BALANCES      ACCOUNT BALANCES      ACCOUNT BALANCES
  CLASSIFICATION                                                      BEG. OF THIS YEAR    BEG. OF THIS MONTH    CLOSE OF THIS MONTH
+ _________________________________________________________________ _____________________ _____________________ _____________________
  ;CEXCESS OF LIABILITIES (+) OR ASSETS (-)                                     3,702,576             3,815,093             3,831,246

  ;CTRANSACTIONS NOT APPLIED TO CURRENT YEAR'S SURPLUS

   OR DEFICIT (SEE SCHEDULE A FOR DETAILS)                                         ......                  (**)                  (**)

  ;CTOTAL BUDGET AND OFF-BUDGET FEDERAL ENTITIES
   (FINANCING OF DEFICIT (+) OR DISPOSITION OF

    SURPLUS (-))                                                                3,702,576             3,815,093             3,831,246
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{name: STM0P087
pages:  USER ID  :     
 DATE: 2004-01-13 TIME: 18.42.09                                                                                         PAGE   3(2)
1                                                    FINANCIAL MANAGEMENT SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
                TABLE 6. SCHEDULE A - ANALYSIS OF CHANGE IN EXCESS OF LIABILITIES OF THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  12/03

                                                                                           FISCAL YEAR TO DATE   FISCAL YEAR TO DATE
  CLASSIFICATION                                                          THIS MONTH            THIS YEAR             PRIOR YEAR
+ _________________________________________________________________ _____________________ _____________________ _____________________
  EXCESS OF LIABILITIES BEGINNING OF PERIOD:
    BASED ON COMPOSITION OF UNIFIED BUDGET IN

     PRECEDING PERIOD                                                           3,815,637             3,702,517             3,330,364

      ADJUSTMENTS DURING CURRENT FISCAL YEAR FOR
       CHANGES IN COMPOSITION OF UNIFIED BUDGET:

  -                                                                                ......                ......                ......
        REVISIONS BY FEDERAL AGENCIES TO THE PRIOR BUDGET RESULTS                    -544                    59                -1,528
  -                                                                                ......                ......                ......
  -                                                                                ......                ......                ......
  EXCESS OF LIABILITIES BEGINNING OF PERIOD (CURRENT BASIS)                     3,815,093             3,702,576             3,328,836

  ;CBUDGET SURPLUS (-) OR DEFICIT:

        BASED ON COMPOSITION OF UNIFIED BUDGET IN PRIOR FISCAL YR                  16,153               128,670               108,209

        CHANGES IN COMPOSITION OF UNIFIED BUDGET                                   ......                ......                ......

  TOTAL SURPLUS (-) OR DEFICIT (TABLE 2)                                           16,153               128,670               108,209
    ;CTOTAL-ON-BUDGET (TABLE 2)                                                    59,719               178,269               161,367
    ;CTOTAL-OFF-BUDGET (TABLE 2)                                                  -43,566               -49,600               -53,159

  ;CTRANSACTIONS NOT APPLIED TO CURRENT YEAR'S SURPLUS OR DEFICIT:

    SEIGNIORAGE                                                                    ......                ......                ......
    PREMIUM/DISCOUNT ON BUYBACK OF U.S. TREASURY SECURITIES                        ......                ......                ......
    PROFIT ON SALE OF GOLD                                                         ......                ......                ......
    RECLASSIFICATION OF AGED UNRECONCILED ACCOUNTS                                   (**)                  (**)                ......
    OTHER                                                                          ......                ......                ......

      ;BTOTAL-TRANSACTIONS NOT APPLIED TO CURRENT YEAR'S

       SURPLUS OR DEFICIT                                                            (**)                  (**)                ......
  ;CEXCESS OF LIABILITIES CLOSE OF PERIOD                                       3,831,246             3,831,246             3,437,045
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