department of defense agency financial report fiscal year 2012

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Department of Defense Agency Financial Report for FY 2012 Military Retirement and Other Federal Employment Benefits consists of Federal Employee Compensation Act (FECA) actuarial liabilities of $523.5 thousand that is not due and payable during the current fiscal year. Refer to Note 17, Military Retirement and Other Federal Employment Benefits, for additional details and disclosures. Intragovernmental Liabilities Other, represents the amount payable to Department of Labor for FECA liabilities. NOTE 12. ACCOUNTS PAYABLE Accounts Payable 2012 Interest, Penalties, Dollars in Thousands Accounts Payable and Administrative Total As of September 30 Fees Intragovernmental Payables $ 252,698 N/A $ 252,698 Non-Federal Payables (To the Public) 270,627 0 270,627 Total Accounts Payable $ 523,325 $ 0 $ 523,325 Accounts Payable 2011 Interest, Penalties, Dollars in Thousands Accounts Payable and Administrative Total As of September 30 Fees Intragovernmental Payables $ 334,081 N/A $ 334,081 Non-Federal Payables (To the Public) 285,823 0 285,823 Total Accounts Payable $ 619,904 $ 0 $ 619,904 Accounts Payable includes amounts owed to Federal and non-Federal entities for goods and services received by FMS Trust Fund and the accounts for funds appropriated for security assistance. The systems utilized by the FMS Trust Fund and the accounts for funds appropriated for security assistance do not track intragovernmental transactions by customer at the transaction level. The FMS therefore cannot reconcile accounts payable with other Federal entities. Buyer-side accounts payable are adjusted to agree with interagency seller-side accounts receivable. ADDENDUM B Unaudited Financial Statements – DSCA B-20
Department of Defense Agency Financial Report for FY 2012 NOTE 13. DEBT Debt Dollars in Thousands 2012 As of September 30 Beginning Balance Net Borrowing Ending Balance Agency Debt (Intragovernmental) Debt to the Treasury $ 43,600 $ (9,633) $ 33,967 Debt to the Federal Financing Bank 297,309 (107,118) 190,191 Total Debt $ 340,909 $ (116,751) $ 224,158 Debt Dollars in Thousands 2011 As of September 30 Beginning Balance Net Borrowing Ending Balance Agency Debt (Intragovernmental) Debt to the Treasury $ 41,442 $ 2,158 $ 43,600 Debt to the Federal Financing Bank 421,547 (124,238) 297,309 Total Debt $ 462,989 $ (122,080) $ 340,909 The FCRA of 1990 provides financing accounts with indefinite authority to borrow from the U.S. Treasury to fund disbursements of loans made to sovereign nations for security assistance. This debt to the U.S. Treasury is reflected in the Foreign Military Financing Direct Loan Financing account and the Military Debt Reduction account. Beginning in January 1975, the DSCA and the Federal Financing Bank (FFB), acting under section 24 of the AECA, as amended, entered into an agreement whereby the FFB would make loan agreements with friendly nations and acquire promissory notes guaranteed by DSCA. The promissory notes are considered DSCA borrowings from the FFB. The promissory notes still owed to the FFB are reflected in the Foreign Military Loan Liquidating account. The majority of the debt represents direct and guaranteed loans to foreign countries for pre-1992 and post-1991 loans. The FCRA governs all direct loan obligations and loan guarantee commitments made after FY 1991. Before 1992, funds were borrowed from the FFB to either directly loan the funds to foreign countries or to reimburse guaranteed loans defaulted. Beginning in 1992, based on the FCRA, the security assistance program began borrowing the funds from the U.S. Treasury. The DSCA must pay the debt if the foreign country borrower defaults. For loan defaults, DSCA must pay the outstanding principle amounts guaranteed. ADDENDUM B Unaudited Financial Statements – DSCA B-21
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department of defense agency financial report fiscal year 2012

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