DEPARTMENT OF TRANSPORTATION,
HIGHWAY TRUST FUND
Washington, D.C.
INDEPENDENT AUDITOR'S REPORT
AND FINANCIAL STATEMENTS
September 30, 2005 and 2004
CONSOLIDATING STATEMENT OF NET COST
For The Year Ended September 30, 2005
(Dollars in thousands)
| Federal Aid Highways | Other Highway Trust Funds | FMCSA Trust Fund | FTA Trust Fund |
NHTSA Trust Fund |
FRA Trust Fund | Total | |
|---|---|---|---|---|---|---|---|
| Program Costs - Surface Transportation | |||||||
| Intragovernmental gross costs | $ 240,562 | $ 24,290 | $ 79,309 | $ 42 | $ 32,942 | $ - | $ 377,145 |
| Less: intragovernmental earned revenue | (17,502) | - | (5,257 ) | - | (4,848 ) | - | (27,607 ) |
| Intragovernmental net costs | 223,060 | 24,290 | 74,052 | 42 | 28,094 | - | 349,538 |
| Gross costs with the public | 30,978,622 | 222,277 | 309,731 | 88,119 | 333,826 | - | 31,932,575 |
| Less: earned revenues from the public | (38,538 ) | - | (2,566 ) | - | (8,244 ) | - | (49,348 ) |
| Net costs with the public | 30,940,084 | 222,277 | 307,165 | 88,119 | 325,582 | - | 31,883,227 |
| NET COST OF OPERATIONS | $ 31,163,144 | $ 246,567 | $ 381,217 | $ 88,161 | $ 353,676 | $ - | $ 32,232,765 |
CONSOLIDATING STATEMENT OF CHANGES IN NET POSITION
For The Year Ended September 30, 2005
(Dollars in thousands)
| Federal Aid Highways | Other Highway Trust Funds | FMCSA Trust Fund | Corpus Hwy.
Trust Fund |
FTA
Trust Fund |
NHTSA
Trust Fund |
FRA
Trust Fund |
Eliminations | Total | |
|---|---|---|---|---|---|---|---|---|---|
| BEGINNING BALANCES | $ 4,710,744 | $ 1,090,032 | $ 256,599 | $ 5,562,265 | $ 382,529 | $ 157,822 | $ 312 | $ (19,730) | $ 12,140,573 |
| budgetary financing sources: | |||||||||
| Excise taxes/non-exchange revenue | 45 | - | 8,933 | 37,892,648 | - | 2 | - | - | 37,901,628 |
| Transfers in/out without reimbursement | 35,883,718 | (4,009) | 447,547 | (44,378,091) | (32,130) | 418,662 | - | - | (7,664,303) |
| Other adjustments, rescissions, etc. | 189 | 316 | - | 34,762 | - | (195) | - | 54,802 | |
| OTHER FINANCING SOURCES: | |||||||||
| Imputed financing from costs absorbed by others | 21,095 | - | 4,518 | - | - | 5,880 | - | - | 31,493 |
| Total FINANCING SOURCES | 35,905,047 | (3,693 ) | 460,998 | (6,450,681 ) | (32,130 ) | 424,349 | - | 19,730 | 30,323,620 |
| NET COST OF OPERATIONS | 31,163,144 | 246,567 | 381,217 | - | 88,161 | 353,676 | - | - | 32,232,765 |
| ENDING BALANCES | $ 9,452,647 | $ 839,772 | $ 336,380 | $ (888,416) | $ 262,238 | $ 228,495 | $ 312 | $ - | $ 10,231,428 |
NOTES: – (1) The Highway Trust Fund equity (Corpus) available as of September 30, 2005 is $10,819,587. However, Congress has authorized
appropriations in excess of current available trust fund assets that amounts to $888,416 after considering amounts already transferred to the HTF agencies.
COMBINING STATEMENT OF BUDGETARY RESOURCES
For The Year Ended September 30, 2005
(Dollars in thousands)
| Federal Aid Highways | Other Highway Trust Funds | FMCSA
Trust Fund |
FTA
Trust Fund |
NHTSA
Trust Fund |
FRA
Trust Fund |
Total | |
|---|---|---|---|---|---|---|---|
| BUDGETARY RESOURCES: | |||||||
| Budget authority: | |||||||
| Appropriations received | $ 36,946,628 | $ 7,212 | $ 447,547 | $ 6,690,544 | $ 300,600 | $ - | $ 44,392,531 |
| Contract authority | 39,021,507 | - | 443,329 | 6,690,544 | 298,592 | - | 46,453,972 |
| Net transfers | (1,062,508) | (682) | - | 958,597 | 129,585 | - | 24,992 |
| Unobligated balance: | |||||||
| Beginning of period | 29,000,894 | 525,060 | 23,788 | 75,187 | 10,103 | 58 | 29,635,090 |
| Subtotal | 103,906,521 | 531,590 | 914,664 | 14,414,872 | 738,880 | 58 | 120,506,585 |
| Spending authority from offsetting collections: | |||||||
| Earned: | |||||||
| Collected | 57,971 | 2,351 | 15,371 | 86 | 3,348 | - | 79,127 |
| Receivable from Federal sources | 2,192 | - | 226 | - | - | - | 2,418 |
| Change in unfilled customer orders | |||||||
| Advances received | 630 | - | 10,146 | - | 15,801 | - | 26,577 |
| Without advance from Federal sources | (25,795) | - | (9,190) | - | - | - | (34,985) |
| Transfers from trust funds | - | - | - | - | 14,191 | - | 14,191 |
| Subtotal | 34,998 | 2,351 | 16,553 | 86 | 33,340 | - | 87,328 |
| Recoveries of prior year obligations | 10,473 | 601 | 18,412 | 13,583 | 100 | 43,169 | |
| Temporarily not available | - | - | - | - | - | - | - |
| Permanently not available (Note 2) | (36,381,355 ) | (13,440 ) | (451,093 ) | (6,690,544 ) | (300,600 ) | - | (43,837,032 ) |
| Total Budgetary Resources | $ 67,570,637 | $ 521,102 | $ 498,536 | $ 7,737,997 | $ 471,720 | $ 58 | $ 76,800,050 |
| STATUS OF BUDGETARY RESOURCES: | |||||||
| Obligations incurred | |||||||
| Direct | $ 33,185,210 | $ 202,378 | $ 454,014 | $ 7,681,271 | $ 437,845 | $ - | $ 41,960,718 |
| Reimbursable | 2,366 | - | 7,488 | - | 19,149 | - | 29,003 |
| Subtotal | 33,187,576 | 202,378 | 461,502 | 7,681,271 | 456,994 | - | 41,989,721 |
| Unobligated balance: | |||||||
| Apportioned | 10,211,958 | 311,738 | 6,461 | - | 4,789 | - | 10,534,946 |
| Exempt from Apportionment | - | - | 28,065 | - | - | 28,065 | |
| Unobligated balance not available | 24,171,103 | 6,986 | 30,573 | 28,661 | 9,937 | 58 | 24,247,318 |
| Total Status of Budgetary Resources | $ 67,570,637 | $ 521,102 | $ 498,536 | $ 7,737,997 | $ 471,720 | $ 58 | $ 76,800,050 |
NOTES:-1) There are no non-budgetary financing accounts. (Continued)
| Federal Aid Highways | Other Highway Trust Funds | FMCSA
Trust Fund |
FTA
Trust Fund |
NHTSA
Trust Fund |
FRA
Trust Fund |
Total | |
|---|---|---|---|---|---|---|---|
| RELATIONSHIP OF OBLIGATIONS TO OUTLAYS: | |||||||
| Obligated balance, net – beginning of period | $ 41,777,557 | $ 548,727 | $ 315,014 | $ 297,687 | $ 349,332 | $ 254 | $ 43,288,571 |
| Obligated balance, net – end of period: | |||||||
| Accounts receivable | (16,844) | - | (273) | (70) | - | - | (17,187) |
| Unfilled customer orders from Federal sources | (20,524) | - | (3,493) | 20 | - | - | (23,997) |
| Undelivered orders | 41,430,871 | 397,853 | 373,132 | 195,476 | 357,827 | 254 | 42,755,413 |
| Accounts payable | 2,292,424 | 689 | 18,769 | 447 | 84,879 | - | 2,397,208 |
| Outlays: | |||||||
| Disbursements | 31,292,337 | 351,962 | 378,932 | 7,769,503 | 363,519 | - | 40,156,253 |
| Collections | (58,601 ) | (2,351 ) | (25,518) | (86 ) | (33,340 ) | - | (119,896 ) |
| Subtotal | 31,233,736 | 349,611 | 353,414 | 7,769,417 | 330,179 | - | 40,036,357 |
| Less offsetting receipts | - | - | - | - | - | - | - |
| Net Outlays | $ 31,233,736 | $ 349,611 | $ 353,414 | $ 7,769,417 | $ 330,179 | $ - | $ 40,036,357 |
CONSOLIDATING STATEMENT OF FINANCING
For The Year Ended September 30, 2005
(Dollars in thousands)
| Federal Aid Highways | Other Highway Trust Funds | FMCSA
Trust Fund |
FTA
Trust Fund |
NHTSA
Trust Fund |
FRA
Trust Fund |
Total | |
|---|---|---|---|---|---|---|---|
| RESOURCES USED TO FINANCE ACTIVITIES | |||||||
| Budgetary Resources Obligated: | |||||||
| Obligations incurred | $ 33,187,576 | $ 202,378 | $ 461,502 | $ 7,681,271 | $ 456,994 | $ - | $ 41,989,721 |
| Less: spending authority from offsetting collections and recoveries | (45,471 ) | (2,952 ) | (34,965 ) | (13,669 ) | (33,440 ) | - | (130,497 ) |
| Obligations net of offsetting collections and recoveries | 33,142,105 | 199,426 | 426,537 | 7,667,602 | 423,554 | 41,859,224 | |
| Less offsetting receipts | - | - | - | - | - | - | - |
| Net obligations | 33,142,105 | 199,426 | 426,537 | 7,667,602 | 423,554 | - | 41,859,224 |
| Non-budgetary Resources: | |||||||
| Imputed financing from costs absorbed by others | 21,095 | - | 4,518 | - | 5,880 | - | 31,493 |
| Net non-budgetary resources used to finance activities | 21,095 | - | 4,518 | - | 5,880 | - | 31,493 |
| Total Resources Used to Finance Activities | 33,163,200 | 199,426 | 431,055 | 7,667,602 | 429,434 | - | 41,890,717 |
| RESOURCES USED TO FINANCE ITEMS NOT PART OF THE COST OF OPERATIONS | |||||||
| Change in budgetary resources obligated for goods, services and benefits ordered but not yet provided | 2,003,142 | (47,151) | 65,946 | (100,733) | 87,647 | - | 2,008,851 |
| Resources that fund expenses recognized in prior periods | 571 | 83 | (381) | - | 4,430 | - | 4,703 |
| Resources that finance the acquisition of assets | - | - | 4,528 | - | 357 | - | 4,885 |
| Other resources or adjustments to net obligated resources that do not affect net cost of operations | - | - | 12,959 | 7,680,189 | (14,189 ) | - | 7,678,959 |
| Total Resources Used to Finance Items Not Part of the Net Cost of Operations | 2,003,713 | (47,068 ) | 83,052 | 7,579,456 | 78,245 | - | 9,697,398 |
| Total Resources Used to Finance the Net Cost of Operations |
31,159,487 | 246,494 | 348,003 | 88,146 | 351,189 | - | 32,193,319 |
| Federal Aid Highways | Other Highway Trust Funds | FMCSA
Trust Fund |
FTA
Trust Fund |
NHTSA
Trust Fund |
FRA
Trust Fund |
Total | |
|---|---|---|---|---|---|---|---|
| COMPONENTS OF NET COST OF OPERATIONS THAT WILL NOT REQUIRE OR GENERATE RESOURCES IN THE CURRENT PERIOD |
|||||||
| Components Requiring or Generating Resources in Future Periods: |
|||||||
| Increase in annual leave liability | $ 1,004 | $ - | $ 13,980 | $ - | $ 3,312 | $ - | $ 18,296 |
| Other | - | - | 19,234 | 15 | (892 ) | - | 18,357 |
| Total Components of Net Cost of Operations That Will Require or Generate Resources in Future Periods |
1,004 | - | 33,214 | 15 | 2,420 | - | 36,653 |
| Components Not Requiring or Generating Resources: | |||||||
| Depreciation and amortization | 2,653 | - | - | - | - | - | 2,653 |
| Revaluation of assets or liabilities | - | - | - | - | 67 | - | 67 |
| Other | - | 73 | - | - | - | - | 73 |
| Total Components of Net Cost of Operations That Will Not Require or Generate Resources |
2,653 | 73 | - | - | 67 | - | 2,793 |
| Total Components of Net Cost of Operations That Will Not Require or Generate Resources in the Current Period |
3,657 | 73 | 33,214 | 15 | 2,487 | - | 39,446 |
| NET COST OF OPERATIONS | $ 31,163,144 | $ 246,567 | $ 381,217 | $ 88,161 | $ 353,676 | $ - | $ 32,232,765 |
