Bureau of Resource Management
January 15, 2009

The Condensed Balance Sheet to the right presents the Department’s assets, liabilities, and net position at September 30, 2008 and 2007. The consolidated data reflects intra-agency eliminations. Total assets increased 15 percent between 2007 and 2008, $6.8 billion, principally due to increases in Fund Balance with Treasury, real property, and investments in the Foreign Service Retirement and Disability Fund. These increases mirror the increased appropriations and spending authority from offsetting collections between the two years of $6.3 billion. Of the $5.4 billion increase in fund balance, $3.5 billion has been obligated but not disbursed and most of the $1.9 billion balance of of the increase is available, not yet expended. The Department’s total liabilities increased eight percent, primarily due to increases in the Foreign Service Retirement Actuarial Liability, entirely due to increased participation in the foreign service retirement programs, since factors and economic assumptions did not change, and the funded and unfunded Liability to International Organizations, due to differing timing between assessment dates of dues and the payment and funding dates. Net Position, comprised of both unexpended appropriations and the cumulative net cost of operations, increased 21 percent between 2007 and 2008. Unexpended Appropriations was up $3.5 billion, primarily due to appropriations still available in the new Global Health and Child Survival fund. Cumulative results of operations was increased by $1.9 billion, primarily due to resources used to purchase property and equipment, which are capitalized on the Balance Sheet rather than presented in Net Cost as expenses.

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For Years Ended September 30, 2008 and 2007
(Dollars in Millions)
Fund Balance with Treasury$25,151$19,779
Investments, Net 14,891 14,412
Property, Plant, and Equipment, Net 11,077 10,198
Receivables and Other Assets 997 845
Total Assets$52,116$45,234
Foreign Service Retirement Actuarial Liability$15,139$14,729
Accounts Payable 2,878 1,950
Liability to International Organizations 1,507 1,477
Environmental and Other Liabilities 1,959 1,738
Total Liabilities 21,483 19,894
Net Position:
Unexpended Appropriations 17,979 14,553
Cumulative Results of Operations 12,654 10,787
Total Net Position 30,633 25,340
Total Liabilities and Net Position$52,116$45,234

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