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2016 Financial Report of the United States Government


Financial Statements of the United States Government for the Years Ended September 30, 2016, and 2015

Statements of Changes in Cash Balance from Unified Budget and Other Activities

The primary purpose of these statements is to report how the annual unified budget deficit relates to the change in the Government’s cash and other monetary assets, as well as debt held by the public. It explains why the unified budget deficit normally would not result in an equivalent change in the Government’s cash and other monetary assets.

These statements reconcile the unified budget deficit to the change in cash and other monetary assets during the fiscal year. They also serve to explain how the budget deficits were financed. A budget deficit is the result of outlays (expenditures) exceeding receipts (revenue) during a particular fiscal year.

The budget deficit is primarily financed through borrowings from the public. Other transactions, such as the payment of interest on Treasury securities held by the public, also require cash disbursements and are not part of the deficit. Additionally, the budget deficit includes certain amounts that are recognized in the budget, but will be disbursed in a future period, or are adjustments that did not affect the cash balance. These amounts include interest accrued on Treasury securities held by the public, as well as subsidy expense related to direct and guaranteed loans.

These statements show the adjustments for non-cash outlays included in the budget, and items affecting the cash balance not included in the budget, to explain the change in cash and other monetary assets.

In fiscal year 2016, the presentation for the Statements of Changes in Cash Balance from Unified Budget and Other Activities was changed, and fiscal year 2015 amounts were reclassified to conform with the new presentation.

United States Government
Statements of Changes in Cash Balance from Unified Budget and Other Activities
for the Years Ended September 30, 2016 and 2015
(In billions of dollars)

2016
Reclass
2015
Cash flow from unified budget activities
Total unified budgetary receipts 3,266.7 3,248.7
Total unified budgetary outlays (3,854.1) (3,687.6)
Unified budget deficit (587.4) (438.9)
Adjustments for Noncash Outlays Included in the budget:
Interest accrued by Treasury on debt held by the public 264.1 245.4
Agencies year-end credit reform subsidy re-estimates (12.7) 26.8
Subsidy expense accrued under direct loan & guarantee programs 11.8 (22.0)
Subtotal - adjustments for non-cash transactions in unified budget 263.2 250.2
Cash flow from activities not included in unified budget
Cash flow from non-budget activities
Interest paid on Treasury securities held by the public (262.7) (243.5)
Other direct loan transactions (80.3) (119.9)
Repayment of principal on direct loans (11.6) 17.4
Other guaranteed loan transactions (10.2) 9.8
Miscellaneous liabilities 1.6 (0.3)
Deposit fund liability balances (0.7) 20.5
Seignorage 0.6 0.6
Subtotal - cash flow from non-budget activities (363.3) (315.4)
Cash flow from monetary transactions
Loans to the IMF 0.9 3.0
Other monetary assets 1.9 0.6
Special drawing rights (0.3) (2.9)
Subtotal - cash flow from monetary transactions 2.5 0.7
Cash flow from financing
Borrowing from the public 8,390.4 7,037.5
Repayment of debt held by the public (7,343.3) (6,700.6)
Effect of uninvested principal from the Thrift Savings Plan (TSP) G Fund (203.2) 203.2
Agency securities 0.1 0.1
Subtotal - cash flow from financing 844.0 540.2
Other 0.5 3.4
Change in cash balance 159.5 40.2
Beginning cash balance 305.1 264.9
Ending cash balance  464.6 305.1

The accompanying notes are an integral part of these financial statements.

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