Bureau of Resource Management
Report
May 10, 2010


The Condensed Balance Sheets shown here present the assets, liabilities, and net position of each agency. Each agency’s asset and liability amounts include interagency transactions between the Department of State, USAID, and other Federal agencies.

Department of State. Assets increased 16% over 2008, primarily due to greater Fund Balance with Treasury available in the Global Health and Child Survival fund and for Embassy Security, Construction and Maintenance. Investments and Property and Equipment increased as well with the Department’s continued emphasis on construction of new embassies and security upgrades. Liabilities increased 7% between FY 2008 and FY 2009 due to the $1.8 billion increase in the Foreign Service Retirement Actuarial Liability. An experience study conducted by the Department’s actuaries in FY 2009 indicated a need to change key assumptions used to adjust the projected plan benefits.

USAID. Assets increased by 7% in FY 2009 from 2008. Fund Balance with Treasury (unspent appropriations) represents 82% of these total assets. The increase in assets was due mainly to the Agency’s receiving more appropriation in the Economic Support Fund. The five largest uses of that fund were Afghanistan, West Bank/Gaza, Jordan, Iraq, and the Global Financial Crisis. The Agency’s liabilities increased three percent because of increased loan guarantees. Credit reform related payables to the U.S. Treasury account for 46% of overall liabilities.

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CONDENSED BALANCE SHEETS
As of September 30, 2009
($ in thousands)
State USAID
Assets:
Fund Balance with Treasury $31,737,770 $21,437,709
Investments, Net 15,371,574
Property, Plant, and Equipment, Net 11,675,889 117,794
Accounts, Loans, and Interest Receivables, Net 3,847,554
Other Assets 1,068,073 735,379
Total Assets $59,853,306 $26,138,436
Liabilities:
Foreign Service Retirement Actuarial Liability $16,983,300 $—
Liability for Capital Transfers to the General Fund of the Treasury 3,945,582
Accounts Payable 2,076,189 1,836,631
Loan Guaranty Liability 2,283,273
Liability to International Organizations 1,450,764
All Other Liabilities 1,970,120 603,085
Total Liabilities 22,480,373 8,668,571
Net Position:
Unexpended Appropriations 23,546,300 16,464,124
Cumulative Results of Operations 13,826,633 1,005,741
Total Net Position 37,372,933 17,469,865
Total Liabilities and Net Position $59,853,306 $26,138,436


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