Treasury BulletinMarch 1979

fe'

D E P A R T M E N T O F T H E T R E A S U R Y O F F I C E O F T H E S E C R E T A R Y

W A S H I N G T O N , D .C .

March 1979 I

C O N T E N T S

Page

Article - Treasury Financing Operations.................................................... VI

F E D E R A L F I S C A L O P E R A T I O N SFFO-1. - Summary of Fiscal Operations...,.................................................. 1FFO-2. - Budget Receipts by Source........................................................ 3Chart - Budget Receipts by Source........................................................ 5FFO-3. - Budget Outlays by Agency........ ...... .......................................... 6FFO-4. - Undistributed Offsetting Receipts................................................ 7FFO-5. - Budget Outlays by Function....................................................... 8FFO-6 . - Investment Transactions of Government Accounts in Federal Securities (Net)........ 10FFO-7. - Trust Funds Transactions.................................. ...................... 11

F E D E R A L O B L I G A T I O N SFO-1. - Gross Obligations Incurred Within and Outside the Federal Government b> Object

Class............................................................................ 1 3F0-2. - Gross Obligations incurred Outside the Federal Government by Major Function and

Major Object Class.................................... ................ ......... 1 3FO-3. - Gross Obligations Incurred Outside the Federal Government by Department or Agency.. 14

FO-4. - Gross Obligations Incurred Outside the Federal Government, Comparative Statementby Months........................................................................ ^

A C C O U N T O F T H E U.S. T R E A S U R YUST-1. - Status of the Account of the U.S. Treasury....................................... 21UST?2. - Elements of Changes in Federal Reserve and Tax and Loan Account Balances.......... 2 2UST-3. - Gold Assets and Liabilities of the Treasury...................................... 23

M O N E T A R Y S T A T I S T I C SMS-1. - Currency and Coin in Circulation................................................. 24

F E D E R A L D E B TFD-1. - Summary of Federal Debt............................................ ............. 25FD-2. - Computed Interest Charge and Computed Interest Rate on Interest-Bearing Public Debt 25FD-3. - Interest-Bearing Public Debt..................................................... 6

FD-4. - Government Account Series........................................................ 27FD5. - Interest-Bearing Securities Issued by Government Agencies.......................... 28FD-6 . - Participation Certificates....................................................... 29FD-7. - Maturity Distribution and Average Length of Marketable Interest-Bearing Public Debt 30

FD-8 .* - Debt Subject to Statutory Limitation............................................. 3 0FD-9. - Status and Application of Statutory Limitation................................... 3 1FD-10. - Treasury Holdings of Securities.................................................. 3 2

P U B L I C D E B T O P E R A T I O N SPDO-1. - Maturity Schedule of Interest- Bearing Marketable Public Debt Securities.......... 34PDO-2. - Offerings of Bills............................................................... 35PDO-3. - New Money Financing through Regular Weekly Treasury Bills......................... 38PDO-4^ . - Offerings of Public Marketable Securities........................................ 40PDO-5. - Unmatured Marketable Securities Issued at a Premium or Discount................... 44PDO-6 . - Allotments by Investor Classes on Subscriptions for Public Marketable Securities... 49

II Treasury Bulletin

PagePDO-7. - Disposition of Public Marketable Securities.................................... .PDO-8 . - Foreign Series Securities................................................ ...... 5 5PDO-9. - Foreign Currency Series Securities.............................................. 6 8PDO-IO. " Foreign Currency Series Securities Issued to Residents in Foreign Countries...... 70

U N I T E D S T A T E S S A V I N G S B O N D SSB-i. - Sales and Redemptions by Series, Cumulative................................... .. 7 1SB-2. - Sales and Redemptions by Periods* All Series Combined............................ 71SB-3. - Sales and Redemptions by Periods, Series E through K............................SB-4. - Redemptions of Matured and Unmatured Savings Bonds.............................. 7 4

U N I T E D S T A T E S S A V I N G S N O T E SSN-1. - Sales and Redemptions by Periods.................................... ........ . 75

O W N E R S H I P O F F E D E R A L S E C U R I T I E SOFS-1. - Distribution of Federal Securities...................................... ....... 76OFS-2. - Estimated Ownership of Public Debt Securities................................... 77

T R E A S U R Y S U R V E Y O F O W N E R S H I PTSO-1. - Summary of Federal Securities............... ................................... 78TSO-2. - Interest-Bearing Marketable Public Debt Securities by Typeiknd Maturity Distribution 79TSO-3. - Interest-Bearing Marketable Public Debt Securities by Issue..................... 79TSO-4. - Securities Issued by Government Agencies........................................ 82TSO-5. - Securities Issued by Government-Sponsored Agencies and D.C*...................... 82

M A R K E T Q U O T A T I O N S O N T R E A S U R Y S E C U R I T I E SMQ-1. - Treasury Bills.................................................................. 83MQ-2. - Treasury Notes.................................................................. 83MQ-3. - Treasury Bonds............................................. .................... 85Chart - Yields of Treasury Securities................................................... 8 6

A V E R A G E Y I E L D S O F L O N G - T E R M B O N D SAY-1. - Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds.... ........ 87Chart - Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds........ . 8 8

I N T E R N A T I O N A L F I N A N C I A L S T A T I S T I C SIFS-1. - U.S. Reserve Assets........................................... ................ .IFS-2. - U.S. Liquid and Nonliquid Liabilities to Foreign Official Institutions, and Liquid

Liabilities to All Other Foreigners............................................ q qIFS-3. - U.S. Liquid and Nonliquid Liabilities to Official Institutions of Foreign Countries

by Area........................................................................ 9 1IFS-4. - Nonmarketable U.S. Treasury Bonds and Notes......... ............................ 9 2IFS-5. - U.S. Position in the International Monetary Fund................................ 9 3IFS-6 . - Weighted-Average of Exchange Rate Changes for the Dollar......................... 9 4

CONTENTS

9798

99100101

101103104105106107108

109

110111112113

114115116117117118119

120120121122123124125126127128

1979

CONTENTS

CAPITAL MOVEMENTS

LIABILITIES TO FOREIGNERS REPORTED BY BANKS - U.S.- Total Liabilities by Type of Holder......................................................- Total Liabilities by Type* Payable in Dollars - Part A ........................... .- Total Liabilities to Nonmonetary International and Regional Organizations by Type,

Payable in Dollars - Part B .......... ................................................. .- Total Liabilities by Country.............................................................- Total Liabilities by Type and Country...................................................

CLAIMS ON FOREIGNERS REPORTED BY BANKS IN THE UNITED STATES

- Total Claims by Type (Old Series)...................... ...............................- Total Claims by Type (New Series).....................................................- Total Claims by Country..................................................................- Total Claims by Type and Country Reported by Banks in the U.S................ ......- Banks4 Own Claims, by Type...............................................................- Banks1 Own Claims by Type and Country Payable in Dollars..............................- Domestic Customers' Claims by Type........ ........................................... .

SUPPLEMENTARY LIABILITIES AND CLAIMS DATA REPORTED BY BANKS - U.S.- Dollar liabilities to, and Dollar Claims on, Foreigners in Countries and Areas Not

Regularly Reported Separately.......................................................... LIABILITIES TO FOREIGNERS REPORTED BY NONBANKING CONCERNS - U.S.

- Liabilities by Type.......................................................................- Short-Term Liabilities by Country.......................................................*- Short-Term Liabilities, by Type and Country............................................- Long-Term Liabilities, by Coutitry........................................................

CLAIMS ON FOREIGNERS REPORTED BY NONBANKING CONCERNS - U.S.- Claims by Type............................................................................ *- Short-Term Claims by Country............................................................ - Short-Term Claims, by Type and Country..................................................- Short-Term Liquid Claims Reported by Large Nonbanking Concerns, by Type.............- Short-Term Liquid Claims Reported by Large Nonbanking Concerns, by Country........ *- Short-Term Liquid Claims Reported by Large Nonbanking Concerns, by Type and Country- Long-Term Claims by Country...................................................... ...... .

TRANSACTIONS IN LONG-TERM SECURITIES BY FOREIGNERS- Foreign Purchases and Sales of Long-Term Domestic Securities.........................- Foreign Purchases and Sales of Long-Term Foreign Securities......................... .- Net Foreign Transactions in Marketable U.S. Treasury Bonds and Notes by Country....- Estimated Foreign Holdings of Marketable U.S. Treasury Bonds and Notes by Country..- Net Foreign Transactions in Long-Term Domestic Bonds.......................... .......- N e t Foreign Transactions in Domestic Stocks by Country................................- N e t Foreign Transactions in Long-Term Foreign Bonds by Country.......................- Net Foreign Transactions in Foreign Stocks by Country.................................- Foreign Purchases and Sales of Long-Term Securities, Latest Date................... .- Foreign Purchases and Sales of Long-Term Securities, Latest Year................... .

I VT r e a s u r y B u l l e t i n

CONTENTS

FOREIGN CURRENCY POSITIONS

SUMMARY POSITIONS PageFCP-I-1. - Nonbanking Firms1 Positions............................................. 130FCP-I-2. - Weekly Bank Positions.................................................. 130FCP-I-3. - Monthly Bank Position^............................................. . 130

BELGIAN FRANC POSITIONSFCP-II-1. - Nonbanking Firms1 Positions............................................. 131FCP-II-2. - Weekly Bank Positions............. ............ ......................... 131FCP-II-3. - Consolidated Monthly Bank Positions....................................... 132

CANADIAN DOLLAR POSITIONSFCP-III-1. - Nonbanking Firms1 Positions............................................. , 133FCP-III-2. - Weekly Bank R>sitions................................................... 133FCP-III-3. - Consolidated Monthly Bank Positions.................................. . 134

FRENCH FRANC POSITIONSFCP-IV-l. - Nonbanking Firms1 Positions.............................................. 135FCP-IV-2. - Weekly Bank Positions................................................... 135FCP-IV-3. - Consolidated Monthly Bank Positions...................................... 136

GERMAN MARK POSITIONSFCP-V-1. - Nonbanking Firms Positions................................ ............. 137FCP-V-2. - Weekly Bank Positions.................................................. 137FCP-V-3. - Consolidated Monthly Bank Positions....................................... 138

ITALIAN LIRA POSITIONSFCP-VI-1. - Nonbanking Firms Positions............................ ................. 139FCP-VT-2. - Weekly Bank Positions................................................... 139

JAPANESE YEN POSITIONSFCP-YII-1. - Nonbanking Firms Positions...... ....................................... 140FCP-VII-2. - Weekly Bank Positions..... ............................................ . 140FCP-VII-3. - Consolidated Monthly Bank Positions...................................... 141

SWISS FRANC POSITIONSFCP-VIII-1. - Nonbanking Firms Positions....... ...................................... 142FCP-VIII-2. - Weekly Bank Positions...... ............................................ _ 142FCP-VIII-3. - Consolidated Monthly Bank Positions...................................... . 143

STERLING POSITIONSFCP-IX-1. - Nonbanking Firms* Positions............................................. . 144FCP-IX-2. - Weekly Bank Positions.................................................... 144FCP-IX-3. - Consolidated Monthly Bank Positions.......... ........................ . 145

UNITED STATES DOLLAR POSITIONS ABROADFCP-X-1. - Nonbanking Firms Foreign Subsidiaries* Positions.......................... . 146FCP-X-2. - Weekly Bank Foreign Office Positions...................................... 146FCP-X-3. - Monthly Bank Foreign Office Positions..................... ............ #...i 147

March 1979 V

CONTENTS

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDSPage

GOVERNMENT CORPORATIONS AND OTHER BUSINESS-TYPE ACTIVITIES

GA-I-1. - Statements of Financial Condition..........................................................150FEDERAL CREDIT PROGRAMS

GA-II-1. - Direct Sales and Repurchases of Loans..........*.........................................230

Cumulative Table of Contents............................................................................. ..231

VI Treasury Bulletin

Treasury Financing Operations

Auction of 2-Year NotesOn February 13 the Treasury announced that it would

auction $2,480 million of 2-year notes to refund approximately the same amount of notes maturing Bebruary 28, 1979. The notes offered were Treasury Notes of Series Q-1981, to be dated February 28, 1979, due February 28, 1981, with interest payable on the last day of August and February in each year until maturity. A coupon rate of 9-3/47. was set after the determination as to which tenders were accepted on a yield basis, the average of which translated into an average accepted price close to 100.000.

Tenders for the notes were received until 1:36 p.m., EST, February 21 and totaled $4,604 million, of which $2,482 million was accepted at yields ranging from 9.757, price 100.000 up to 9.877., price 99.787. Noncompetitive tenders for $1 million or less from any one bidder were accepted in full at the average yield of accepted tenders, 9.85%, price 99t&22. These totaled $488 million.

In addition to the $2,482 million of tenders accepted in the auction process, $368 million of tenders were accepted at the average price from Government accounts and Federal Reserve banks for their own account in exchange for securities maturing February 28, 1979.

Tenders were received at Federal Reserve banks and branches and at the Bureau of the Public Debt, Washington, D. C. Bearer notes, with interest coupons attached, and notes registered as to principal and interest were authorized to be issued in denominations of $5,000, $10,000, $100,000 and $1,000,000.

Auction of 4-year 1-Month NotesOn February 21 the Treasury announced that it would auc

tion $2,500 million of 4-year 1-month notes to raise new cash. The notes offered were Treasury Notes of Series D-1983, to be dated March 5, 1979, due March 31, 1983, with interest payable on September 30 and March 31 in each year until maturity. A coupon rate of 9-1/47. was set after the determination as to which tenders were accepted on a yield basis, the average of which translated into an average accepted price close to 100.000.

Tenders for the notes were received until 1:30 p.m., EST, February 27 and totaled $6,734 million, of which $2,502 million was accepted at yields ranging from 9.337, price 99.705 up to 9.36%, price 99.605. Noncompetitive tenders for $1 million or less from any one bidder were accepted in full at; the average yield of accepted tenders, 9.357., price 99.638. These totaled $538 million.

In addition to the $2,502 million of tenders accepted in the auction process, $395 million of tenders were accepted at the average price from Federal Reserve banks as agents for foreign and international monetary authorities for new cash.

Tenders were received at Federal Reserve banks and branches and at the Bureau of the Public Debt, Washington, D. C. Bearer notes, with interest coupons attached, and notes registered as to principal and interest were authorized to be issued in denominations of $1,000, $5,000, $10,000, $100,000and $1,000,000 52-Week Bills

On February 22 tenders were invited for approximately $3,320million of 364-day Treasury bills to be dated March 6, 1979, and to mature March 4, 1980. Tenders were opened on February 28. They totaled $7,043 million, of which $3,320 million was accepted, including $138 million of noncompetitive tenders from the public and $1,588 million of the bills issued at the average price to Federal Reserve banks for themselves and as agents of foreign and international monetary authorities. The average bank discount rate was 9.4857.. The issue was to refund $3,321 million of bills maturing March 6. 48-Day Bills

On February 23 tenders were invited for approximately $4,000 million of 48-day Treasury bills to be issued March 2, 1979, representing an additional amount of bills dated October 19, 1978, maturing April 19, 1979. The issue Has to raise new cash. Tenders were opened on February 27. They totaled $9,245 million, of which $4,001 million was accepted. The average bank disceunt rate was 9.6987..13-Week and 26-Week Bills

Issues of regular weekly Treasury bills in February totaled $23,300 million. These issues were offered for cash and in exdhange for bills maturing in the amount of $23,500 million. There eere three 13-week issues of $2,800 million, one 13-week issue of $3,000 million, three 26-week issues of $J,000 million, and one 26-week issue of $2,900 million. Average rates for the new issues are shown in the followingtable.

Date of issue Annual average rate (bank discount basis)

13-week 26-week1979

February 2 9.324 9.3768 9.186 9.30715 9.258 9.34222 9.292 9.370

M arch 1979 VII

Treasury Financing OperationsContinued'

Treasury Bills (Other than Short-dated bills) * GeneralTreasury bills are sold on a discount basis under com

petitive and noncompetitive bidding, and at maturity their par amount is payable without interest. All series are issued entirely in book-entry form in a minimun amount of $10*000 and in any higher $5,000 multiple, on the records either of the Federal Reserve banks and branches, or of the Departmentof the Treasury.

Tenders are received at Federal Reserve banks and branches and from individuals at the Bureau of the Public Debt, Washington. Each tender must be for a minimum of $10,000. Tenders over $10,000 must be in multiples of $5,000. Payment for the full par amount applied for must accompany all .tenders submitted for bills to be maintained on the book-en- try records of the Department of the Treasury. A cash adjustment will be made for the difference between the oar Dayment submitted and the actual issue price as determined in the auction. No deposit need accompany tenders from incorporated banks and trust companies and from responsible and recognized dealers in investment securities for bills to be maintained on the book-entry records of Federal Reserve banks and branches. A deposit of 2 percent of the par amount of the bills applied for must accompany tenders for such bills from others, unless an express guaranty of payment by an incorporated bank or trust company accompanies the tenders.

Noncompetitive tenders (without stated price), usuallyfor $500,000 or less from any one bidder, for each issue of 13-week, 26-week, and 52-,wfik bills, are acc-epted in full at theweighted average price of accepted competitive bids for an issue.

Payment for accepted tenders must be made or completedon the date of issue, in cash or other immediately available funds or in a like par amount of Treasury securities maturing on or before that date. Payment for 13-week, 26-week, 52-week bills may not be made by credit in Treasury tax and loan accounts.

Npnmarketable Foreign Series Securities - Foreign GovernmentsDollar denominated foreign series securities issued to

official institutions in February totaled $3,014 million,consisting of 22 certificates and 1 note. Redemptions for themonth totaled $5,068 million. At the end of February, dollardenominated foreign series securities outstanding totaled$24,877 million. (Details are shown on page 67.)

There were no issues of foreign currency denominatedsecurities to official institutions in February. Redemptions for the month totaled an equivalent of $56 million. At the end of February outstanding foreign currency denominated securities issued to foreign governments totaled an equivalent of $475 million and were all denominated in Swiss francs* (Details are shown on page 69.)Nonmarketable Foreign Series Securities - Public Offerings

On February 13 the Treasury announced that it would offer two issues of Deutsche mark (DM) denominated notes in the amount of approximately DM 2.5 billion for sale by subscription exclusively to residents of the Federal Republic of Germany.

Both issues of notes were made on March 1, 1979, with the6.307. note due September 1, 1981, and the 6.707,, note dueSeptember 1, 1982.

On February 22 the Treasury accepted DM 1,260 millionin subscriptions for its 6.30% 2-year 6-month notes. Total subscriptions received for this issue were DM 2,713 million. In the case of the 6.70%* 3-year 6-month' notes*, the ^ Treasury accepted Ml 1,243 million in subscriptions. Total subscriptions received for this issue were DM 2,242 million. The dollar equivalents of the two issues were $680 million for the6.307. notes and $671 million for the 6.70% notes.

The acceptance to subscription ratio was 46 percent for the 2-year 6-month notes and 55 percent for the 3-year 6-month maturity. In each of the two maturities, allotments were made on a pro rata , basis, except that individual subscriptions were rounded up to the nearest DM 250,000.

Note* Details of figures may not add to totals because of rounding.

March 1979.FEDERAL FISCAL OPERATIONS.

Table FFO-1. - Summary of Fiscal Operations

(In millions of dollars)

Fiscal year or month*

1/ Budget receipts and outlays

Net receipts 2/

( 1)

Net outlays j /

- (2)

Surplusordefict(-)1 -2

(3)

Means of financing net transactionsBorrowing from the public Federal securities'

Public debt securi- ties i j(4)

Agencysecurities(5)

Investments of Government accounts 5/

(6)

Total4+5-6

(7)

Cash and monetary assets (Deduct)

Within generalaccount of the U.S. Treasuryy u

( 8)

U.S.Treasuryoperatingcash

(9)

Special drawing rights 8/

( 10) ( 11)

Gold tranche drawing , rights 2/

( 12)

197 0 197 1 197 2 197 3 197 4 197 5 197 6 T.Q......197 7 197 8 1979 (Est).1980 (Est).1978-Jan..

Feb.. Mar.., Apr.. May.. June. July. Aug.. Sept. Oct.. Nov.., Dec..

1979-Jan..Fiscal 1979 to date....

193,743188,392208,649232,225264,932280.997 300,006r81,773r357,762401.997 455,989 502,55333,20126,79524,87942,34334,96147,65729,19435,04042,59128,74533,22737,47738,364

137,814

196,588211,425232,021247,074269,620326,l85r366,>39r94^729r402,725r450,836r493,368531,56636,91833,78740,00435,72436,67038,60236,42639,57238,93542,69139,13441,392

164,313

-2,845-23,033-23,372-14,849-4,689-45,188r-66 ,434r-12,956r-44 ,963r-48,839r-37,379-29,013-3,717-6 ,992-15,1256,618-1,7099,055-7,232-4,5323,655

-13,946-5,907-3,915-2,731

-26,499

17,19827,21129,13130,88116,91858,95387,24414,26964,13972,70560,30260,2362,6528,1578,198

- 1,3625,0097,4261,45313,9697,0994,8496,6326,1811,24718,909

-1,739-347

-1,269216903

-1,06910724

- 1,380-1,417-1,541-467

5-328-5-51-28-34-54

-832-13-7

-336-50-208

10,0627,4178,42011,82214,8137,0314,341-3,5149,24312,18118,76220,770-3,3702,721

- 1,462849

5,5361,991-1,7964,0984,265-1,6421,0602,599-2,273

5,39719,44819,44219,2753,00950,85382,91318,50753,51659,10640.00039.0006,0275,1089,656-2,263-5555,4013,1959,0392,8216,4845,2363,5333,31218,565

1,746826

1,6682,068-3,380

-1,5707,2462,5791,6903,340n.a.n.a.207

-5,089 -984 2,874 -5,554 13,800 -5,464 1,016 9,365 -6,899 -2,691 3, 438 -1,146-7,298

557290711

-8245123

-302-59-267352n.a.n.a.-494222-24914556 -2557 155

-1,57536

1,103

-1,536-2081,079-1,264

91647-172-385684-75

n.a.n.a.70

-135241794

-900337-342-101352-5773,803-1,478

2982,045

-908-98850525

1,1211,024764132-594n.a.n.a.

212

-272-298-39-90-7466-43238

-3,022327

Means of financing net transactions Con. Selected balances, end of period

Fiscal year or month

Federal securities

Other 10/

(13)

Transactions not applied to year's surplus or deficit 11/

(14)

Total budget financing 7-8-9-10 -11-12+13+14

(15)

General account of the U.S. Treasury 6/2/

(16)

U.S.Treasuryoperatingcash

(17)

Publicdebtsecurities4/

(18)

Agencysecurities

12/

(19)

Investments of Government accounts

(20)

Held by thepublic18+19-20

(21)1970........... -22 -961 2,845 9,291 _ 370,094 12,510 97,723 284,8801971........... 3,103 482 23,033 10,117 - 397,305 12,163 105,140 304,3281972........... 4,958 1,442 23,372 11,785 - 426,435 10,894 113,559 323,7701973........... -3,921 340 14,849 13,854 - 457,317 11,109 125,381 343,0451974........... -1,290 451 4,689 10,473 - 474,235 12,012 140,194 346,0531975........... 1,968 -7,312r 45,l88r - 7,589 533,188 10,943 147,225 396,9061976........... -1,956 -6,727r 66,434r - 14,835 620,432 10,953 151,566 479,819T.Q........... -199 -2,453r 12,956r - 17,414 634,701 11,678 148,052 498,3271977........... 2,004 -8,3l8r 44,963r - 19,104 698,840 - 10,298 157,295 551,8431978........... 2,246 -9,490r 48,839r - 22,444 771,544 8,881 169,477 610,9481979 (Est)..... -1,462 -11,083 37,379 - _ 831,847 7,340 188,238 650,9481980 (Est)..... 886 -10,872 29,013 - - 892,083 6,873 209,008 689,9481978-Jan....... -935 -1,146 3,717 _ 12,481 721,595 10,226 153,275 578,546Feb....... -2,053 -1,234 6,992 - 7,391 729,753 9,898 155,996 583,654Mar....... 5,576 -1,100 15,125 - 6,407 737,951 9,893 154,534 593,310Apr....... -441 -569 -6,618 - 9,281 736,589 9,842 155,383 591,048May....... -3,110 -1,030 1,708 - 3,726 741,598 9,814 160,919 590,493June...... 196 -561 -9,055 - 17,526 749,024 9,780 162,910 595,894July...... -1,112 -674 7,232 12,062 750,477 9,726 161,114 599,089-2,035 -1,516 4,532 - 13,078 764,446 8,894 165,212 608,128Sept...... 3,972 -717 -3,655 - 22,444 771,544 8,881 169,477 610,948

930 -550 13,946 - 15,545 776,394 8,873 167,834 617,433Nov....... -4,156 1,341 5,907 - 12,854 783,026 8,537 168,894 622,669Dec....... 3,338 -633 3,915 - 16,291 789,207 8,487 171,492 626,202

1979-Jan....... 78 -432 2,731 - , 15,146 790,454 8,279 169,220 629,513Fiscal 1979 to date..... 190 -274 26,499 - 15,146 790,454 8,279 169,220 629,513

Footnotes on following page.

2 Treasury Bulletin

, Footnotes to Table FFO-1. .

.FEDERAL FISCAL OPERATIONS,

Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government.

Note: Budget estimates are based on the 1980 Budget of the U.S. Government, released January 22, 1979. Budget totals have been revised retroactively to 1975 due to reclassification of gold sale profit from a offsetting proprietary receipt to a transaction not applied to the current years surplus or deficit. (FFO-1 & FFO-3)

I f Budget receipts and outlays are revised to reflect Earned IncomeCredit payments in excess of an individual's tax liability, formerly treated as outlays, and now classified as income tax refunds.

2/ For detail see Table FFO-2.I f For detail see Table FFO-3.4/ As of July 31, 1974, public debt outstanding has been adjusted to

exclude the notes of the International Monetary Fund to conform with the budget presentation.

5/ For detail see Table FFO-6.6/ Current fiscal year to date transactions through June 30, 1974, are

on the Daily Statement of the U.S. Treasury clearance date basis and are converted to accounting date basis at June 30 (final) only.Prior fiscal year amounts include transactions m transit as of June30. For amounts in transit see Table FFO-IO in the October 1974

Bulletin.I f As of July 1974, balances shown under "Within general accounts of the

U.S. Treasury" are now presented m columns 9, and 13.8/ Represents holdings of special drawing rights, less certificates issued

to Federal Reserve banks.9/ Represents activity of the International Monetary Fund.10/ Includes: public debt accrued interest payable to the public, deposit

funds, miscellaneous asset and liability accounts, and as of July 1974, the gold balance.

11/ Includes: Seigniorage; increment of gold; fiscal 1969 conversions ofcertain corporations to private ownership; fiscal 1970 reclassification of Commodity Credit Corporation certificates of interest; fiscal 1974 conversion of interest receipts of Government accounts to an accrual basis; and net outlays of off-budget Federal agencies. Also includes rural electrification and telephone revolving fund since May 12, 1973, Postal Service fund since July 1973, Federal Financing Bank since July 1974, housing for the elderly or handicapped fund from August 22, 1974, through September 30, 1977, and Pension Benefit Guaranty Corporation since September 17, 1974.

12/ For detail see Table FD-6.n.a. Not available.

March 1979 3

Table FFO-2. - Budget Receipts by Source

_ .FEDERAL FISCAL OPERATIONS^

(In millions of dollars)

Fiscal year or month

Net budget receipts 1/

Income taxes Social insurance taxes and contributionsIndividual Corporation

Withheld 2/ Other Refunds 1/ Net Gross Refunds NetNetincometaxes

Employment taxes and contributionOld-age, disability, and hospital InsuranceGross Refunds Net

193,743 77,416 26,236 13,240 90,412 35,037 2,208 32,829 123,241 38,600 386 38,214188,392 76,490 24,262 14,522 86,230 30,320 3,535 26,785 113,015 41,237 518 40,719208,649 83,200 25,679 14,143 94,737 34,926 2,760 32,166 126,903 45,559 447 45,111232,225 98,093 27,019 21,866 103,246 39,045 2,893 36,153 139,398 54,166 479 53,687264,932 112,092 30,812 23,952 118,952 41,744 3,125 38,620 157,571 65,016 535 64,481280,997 122,071 34,328 34,013 122,386 45,747 5,125 40,621 163,007 74,075 360 73,715300,006r 123,441 35,528 27,367r 131,603r 46,783 5,374 41,409 172,204 78,792 408 78,38481,773r 32,950 6,809 958r 38,801r 9,809 1,348 8,460 47,175 21,475 - 21,475357,762 144,857 42,062 29,293 157,626 60,057 5,164 54,892 212,518 90,701 400 90,301401,997 165,254 47,804 32,070 180,988 65,380 5,428 59,952 240,940 102,589 518 102,071

1979 (Est.)............. 455,989 185,482 52,996 34,876 203,602 75,891 5; 584 70,307 273,909 118,330 660 117,6701980 (Est.)............. 502,553 202,716 65,581 40,974 227,322 76,913 5,926 70,987 298,3C9 137, j.51 519 136.61233,201 13,111 7,154 48 20,217 2,273 282 1,991 22,208 7,141 - 7,141

Feb............... 26,795 12,817 905 3} 102 10,620 1,521 508 1,013 11,633 10,451 - 10,451Mar............... 24,879 14,478 2,537 11,756 5,258 8,682 659 8,023 13,282 7,773 - 7,773

42,343 13,095 13,621 7,883 18,833 9,342 492 8,850 27,683 9,967 - 9,96734,961 14,808 6,756 7,272 , 14,293 1,624 441 1,183 15,475 11,292 518 10,77447,657 14,490 6,631 820 20,301 15,054 399 14,655 34,956 8,668 - 8,66829', 194 14,182 1,090 682 14,590 2,127 342 1,785 16,375 7,923 - 7,92335,040 14,369 868 454 14,784 1,509 388 1,122 15,906 11,880 - 11,88042,591 14,843 6,354 314 20,883 10,153 400 9,753 30,636 7,685 - 7,68528,745 15,032 1,104 214 15,922 2,436 752 1,684 17,606 6,544 - 6,54433,227 16,268 533 192 16,609 1,541 493 1,048 17,657 9,443 - 9,44337,477 15,454 830 219 16,066 10,769 382 10,386 26,452 6,880 - 6,880

1979-Jan............... 38,364 15,844 7,866 42 23,667 2,538 392 2,146 25,814 8,390 - 8,390Fiscal 1979

137,814 62,597 10,333 666 72,264 17,284 2,019 15,265 87,528 31,257 31,257

Social insurance taxes and contributions - Continued

Fiscal year or month

Employment taxes and contributions - Con. Unemployment insurance Net contributions for other insurance and retirementRailroad retirement accounts Net

employment taxes and contributions

Gross RefundsNetunemploymentinsuranceGross Refunds Net

Federalsupplementarymedicalinsurance

Federalemployeesretirement

Otherretirement Total

1970.................... 920 * 919 39,133 3,471 6 3,464 936 1,735 29 2,7011971.................... 981 * 980 41,699 3,682 8 3,674 1,253 1,916 37 3,2071972.................... 1,009 1 1,008 46,120 4,370 13 4,357 1,340 2,058 39 3,4371973.................... 1,190 1 1,189 54,876 6,070 19 6,051 1,427 2,146 41 3,6141974.................... 1,412 * 1,411 65,892 6,863 26 6,837 1,704 2,302 45 4,0511975.................... 1,490 * 1,489 75,204 6,804 33 6,771 1,901 2,513 52 4,4661976.................... 1,525 * 1,525 79,909 8,085 32 8,054 1,937 2,760 54 4,752

328 * 328 21,803 2,764 6 2,698 539 706 13 1,2581977.................... 1,909 * 1,908 92,210 11,347 36 11,312 2,193 2,915 59 5,1671978.................... 1,823 1 1,822 103,893 13,892 42 13,850 2,431 3,174 62 5,6681979 (Est.)............. 2,079 * 2,079 119,749 15,928 58, 15,870 2,650 3,454 66 6,1701980 (Est.)............. 2,539 * . 2,539 139,151 15,916 61 15,855 2,909 3,472 66 6,4471978-Jan................ 16 * 16 7,157 404 1 403 191 241 6 437

Feb................ 294 * 294 10,745 1,192 1 1,192 213 273 4 490166 -ie 166 7,938 146 2 144 196 275 7 478

Apr................ 20 * 20 9,987 1,404 11 1,393 195 247 5 448May................ 310 * 310 11,084 4,507 8 4,499 198 307 4 508June............... -20 * -20 8,648 176 7 169 201 264 5 470July............... 37 -it 37 7,960 1,0?8 4 1,094 212 247 6 464Aug................ 311 * 311 12,191 2,915 3 2,912 220 259 5 484Sept............... 169 -* 169 7,854 164 2 162 217 2Z5 751 -* 51 6,595 723 2 722 207 276 5 488Nov................ 319 * 319 9,762 1,664 2 1,662 * 212 282 5 499Dec................ 179 * 179 7,059 176 1 174 209 269 5 483

1979-Jan................ 49 it 49 8,439 479 1 478 229 278 5 512Fiscal 1979to date........... . 599 it 599 31,855 3,042 6 3,037 857 1,105 20 1,982

Footnotes at end of table*

4 Treasury Bulletin

Table FFO-2. - Budget Receipts by SourceContinued

_________ FEDERAL FISCAL OPERATIONS_________

(In millions of dollars)Social insurance taxes and Excise taxescontributions-Continued Miscellaneous Airport and airway trust fund Highway trust fund

Fiscal year or mbnth

Net social insurance taxes and contributions

Gross Refunds Net Gross Refunds Net Gross Refunds Net

45,298 10,519 167 10,352 _ _ _ 5,386 32 5,3541971............. ........ 48,578 10,643 133 10,510 564 2 563 5,664 123 5,54253,914 10,562 1,056 9,506 650 1 649 5,635 313 5,32264,542 9,995 158 9,836 760 2 758 5,818 153 5,66576,780 9,884 141 9,743 842 2 840 6,384 123 6,26086,441 9,550 150 9,400 964 1 962 6,33A 146 6,1881976..................... 92,714 10,753 141 10,612 940 2 938 5,565 152 5,413T.Q*..................... 25,759 2,564 44 2,520 277 1 277 1,677 1 1,676108,688r 9,796 148 9,648 1,193 2 1,191 6,844 135 6,709123,410 10,203 149 10,054 1,328 2 1,326 7,042 137 6,9041979 (Est.)............... 141,789 9,559 153 9,406 1,438 2 1,436 7,451 134 7,3171980 (Est.).............. 161,453 9,275 152 9,123 1,619 2 1,617 7,602 136 7,4661978-Jan.................. 7,997r 829 13 816 97 _ 97 579 579Feb.................. 12,427 705 7 697 116 1 115 470 23 4478,560 756 15 742 103 * 103 561 11 550Apr.................. 11,828 763 9 754 101 * 101 602 93 509May.................. 16,092 990 15 976 122 * 122 560 2 558June................. 9,287 923 11 912 117 * 117 615 11 604

July................. 9,518 981 14 967 116 _ 116 606 606Aug.................. 15,587 801 16 785 121 * 121 667 1 667Sept................. 8,515 909 11 898 126 - 126 596 _ 5967,805 896 14 882 123 _ 123 611 _ 61111,923 882 15 868 141 * 140 686 -1 688Dec ................. 7,716 872 10 861 125 _ 125 591 5911979-Jan..................Fiscal 1979

9,429 811 17 795 117 - 117 588 - 588to date................ 36,874 3,462 56 3,405 506 * 505 2,477 -1 2,478

Fiscal year or month

Excise taxes - ContinuedBlack lung disability trust fund 2/

NetNetexcisetaxes

Estate and gift taxes Customs duties Net miscellaneous receipts

Deposits of earnings by Federal Reserve banks

Allother

197 0 197 1 197 2 197 3 197 4 197 5 197 6 T.Q.......197 7 197 8 1979 (Est.)..1980 (Est.)..,1978-Ja n Feb...

Mar....Apr...May...June....July....Aug....Sept....Oct....Nov...Dec...

1979-Ja n Fiscal 1979to date...

92236249

5141918181819 1720

236249

5141918181819 1720

15,70516,61415,47716,26016,84416,55116,9634,47317,54818,37618,39518,4551,4921,2591,3951,3681,6701,6511,7071,5911,6371,$351,7121,5971,5206,464

3,680 3,784 5,490 4,976 5,101 4,688 5,307 1,485 7,425 5,3815,7866,111

453441471306522439415524A52487469395489

1,840

3649545966779131

100100

679

11103

71099432

3,6443,7355,4364,9175,0354,6115,2161,4557,3275,2855., 686 6, 011

447434462296512436407515445477460386485

1,808

2,4942,6573,3943,3083,4443,7824,2091,2435,2876,7297,6958,642506454616557601667608696623633657613645

2,548

646610712011010613431137156178195121313 12 1714 1215 13 12 11 191557

2,4302,5913,2873,1883,3343,6764,0741,2125,1506,5737,5178,447494441603545584653596681610621646594630

2,491

3,2663,5333,2523,4954,8455,7775,4511,5005,9086,6417.6008.600510555514531561617524665673 548 734674410

2,366

158325380426523935 i/

2,576 I j 112 623r 772,093,27853476391675866967453965876

283

3,4243,8583,6333,9215,3696,7118,026r1,6136,5317,4138,6939,878563602577622629674590760747602829732486

2,649

Source: Monthly Treasury Statement of Receipts and Outlays of the United States Goverment.

Note: Budget estimates are based on the 1980 Budget of the U.S. Government, released January 22, 1979.

1/ Budget receipts are revised to reflect Earned Income Credit payments in excess of an individual's tax liability, formerly treated as outlays, and now classified as income tax refunds.

2/ Includes individual income taxes designated for the Presidential election cpmpaign fund. Prior to February 1974, these taxes were

included m "Other".3/ Includes $442,615 thousand m fees for licenses to import petroleum

and petroleum products./ Includes $1,670 million in fees for licenses to import petroleum and

petroleum products.5/ The Black Lung Disability Trust Fund was formally created on April

1, 1978 pursuant to the "Black Lung Benefits Revenue Act of 1977" (Public Law 95-227).* Less than $500,000. r Revised.

BUDGET RECEIPTS BY SOURCEFiscal Years 1970 - 1979

Comparison first four months 1978 and 1979

70 71 72 73 74 75 76 T.Q. 77 78 79

$Bil.400

300

200

1 0 0 -

TOTAL llo-J ii m L70 71 72 73 74 75 76 T.Q. 77 78 79

140

120

100

Social Insurance Taxes and Contributions

20 - Excise Taxes

70 71 72 73 74 75 76 T.Q. 77 78 79

aw>rl tggo>t-1o

O2GG

&

v o

v o

Source: Monthly Treasury Statement of Receipts and Outlays of the U.S. Government. For actual amounts see preceding Table FFO-2. 1 / Includes estate and gift taxes, customs duties, and miscellaneous receipts.

6.FEDERAL FISCAL OPERATIONS,

Treasury Bulletin

Table FFO-3. - Budget Outlays by Agency

(In millions of dollars)

Fiscal year or month

Legislativebranch

Thejudiciary

Executive. Office of the President

Funds appropriated to the President

Agriculture Department

ConsQ6rc6Defense Department

Energy Department 1/ 2/

Health, Education, & Welfare Department

Housing Sc Urban Development Department

Interior Etepart- ment 2/ 3/

JusticeDepartmentDepartment Military Civil

1970............ 340 128 36 4,774 8,307 1,028 77,150 1,211 2,610 52,338 2,603 1,136 6401971............ 384 142 47 4,540 8,560 1,188 74,546 1,376 2,439 61,866 2,890 225 9161972............ 487 173 55 4,269 10,943 1,250 75,150 1,530 2,545 71,779 3,642 1,256 1,1801973............ 540 183 49 3,733 10,028 1,368 73,297 1,703 2,558 82,042 3,592 -2,236 1,5311974............ 625 205 75 4,015 9,767 1,455 77,625 1,682 2,493 93,735 4,786 -4,881 1,7971975............ 726 284 93 3,572 9,725 1,583 85,420 2,051 3,524 112,411 7,475 2,162 2,0671976............ 779 325 79 3,525 12,796 2,020 88,036 2,124 3,888 128,785 7,079 2,293 2,242225 85 16 1,221 3,850 534 21,926 583 1,000 34,341 1,394 788 5511977............ 976 392 73 2,487 16,738 2,607 95,650 2,280 5,252 147,455 5,838 3,152 2,3501978............ 1,049 435 75 4,450r 20,368 5,239r 103,042r 2,553 6,286r 162,856r 7,589r 3,821r 2,3971979 (Est.)...... 1,209 526 88 5,090 20,205 4,331 111,900 2,644 8,946 180,714 8,962 4,015 2,5861980 (Est.)...... 1,305 619 89 5,133 18,404 3,261 122,700 2,724 8,893 199,428 10,634 3,764 2,505

1978-Jan......... 87 29 7 -9 2,689 380 8,123 159 415 13,125 661 258 195Feb......... 80 51 6 82 939 358 8,226 144 513 13,378 430 233 18989 27 4 537 1,879 453 9,168 169 386 14,387 465 208 191Apr......... 80 37 7 789 781 445 8,315 166 439 12,756 526 222 213May......... 114 46 8 -7 1,229 512 8,870 201 619 13,826 , 558 378 230June........ 78 29 12 1,046 819 604 8,854 178 507 14,142 940 286 202July........ 94 32 2 103 1,336 502 8,285 250 545 13,122 858 202 19494 51 5 809 1,200 544 9,552 262 740 14,417 742 248 190Sept........ 86 57 6 125 1,865 507 8,811 343 892 14,402 543 670 186104 1 6 273 1,696 488 9,164 223 536 14,103 772 197 21078 49 6 -168 2,654 476 9,224 289 638 14,512 502 310 255

86 30 4 273 2,859 418 9,383 245 677 15,017 844 266 1761979-Jan......... 92 35 8 356 3,352 355 9,218 218 571 14,416 807 246 229Fiscal 1979

360 114 25 734 10,562 1,737 36,989 974 2,422 58,048 2,924 1,020 870

Fiscal year or month

Labor State TransporTreasuryDepartment Environ- General

ServicesNationalAero Veterans

Administration

Otherindependentagencies2/

Undistributed Offsetting Receipts J>/

Department

Department

tationDepartment

Interest on the public debt 4/

Other 2/ 6/

ProtectionAgency

Administration

nauticsandSpaceAdmin.

Rents and Royalties on the Outer Continental Shelf lands

OtherTotal 6/

1970............ 4,356 448 6,417 19,304 206 446 3,749 8,653 7,089 - -6,380 196,5881971............ 7,923 468 7,247 20,959 31 701 501 3,381 9,756 8,715 - -7,376 211,4251972............. 10,033 568 7,531 21,849 275 763 589 3,422 10,710 9,878 - -7,858 232,0211973............ 8,639 591 8,183 24,167 6,792 1,114 468 3,311 11,968 11,832 - -8,379 247,0741974............ 8,966 730 8,112 29,319 6,674 2,032 -276 3,252 13,337 13,988 - -9,893 269,6201975............ 17,649 844 9,247 32,665 8,605r 2,530 -624 3,267 16,575 18,433 ^2,428 -11,670 326j l85r1976............ 25,742 1,061 11,936 37,063 7,256r 3,418 -92 3,670 18,415 19,003 -2,662 -12,042 366,439r

5,905 316 3,003 8,102 l,584r 1,108 3 953 3,957 5,851 -1,311 -1,255 94,729r1977............ 22,374 1,076 12,514 41,900 8,484r 4,365 -31 3,944 18,019 19,884 -2,374 -12,679 402,725r1978............ 22,896r 1,252 13,452 48,695 7,660r 4,071 83r 3,980 18,962 25,396r -2,259 -13,514 450,836r1979 (Est.)...... 22,854 1,399 15,363 59,800 5,662 4,194 158 4,401 20,315 26,675 -3,500 -15,170 493,3681980 (Est.)...... 24,484 1,677 15,793 65,700 4,190 4,753 131 4,593 20,450 29,359 -2f600 -16,422 531,5661978-Jan......... 2,038 94 1,145 3,282 1,800 343 -226 315 684 1,797 -61 -414 36,917Feb......... 2,063 136 797 3,450 151 261 86 342 1,514 1,035 -90 -587 33,7872,347 102 982 3,403 -17 341 81 370 2,676 2,336 -138 -443 40,004Apr......... 1,882 159 1,027 3,493 2,154 286 -188 316 556 1,966 -242 -460 35,724May......... 2,060 76 1,080 3,670 -13 344 110 361 1,751 1,931 -717 -567 36,670June........ 1,888 100 1,201 7,166 -329 353 104 320 2,432 1,894 -138 -4,088 38,602

July........ 1,765 129 1,166 3,538 1,642 326 -111 324 608 1,916 -39 -363 36,426Aug......... 2,188 86 1,131 3,868 -141 396 92 320 1,528 1,977 -96 -632 39,572Sept........ 1,728 74 1,332 3,628 -43 431 92 344 1,440 2,507 -97 -992 38,935Oct......... 1,311 153 1,649 3,822 1,892 392 -161 300 1,645 4,313 -95 -302 42,691Nov......... 1,465 136 1,293 4,146 -156 342 75 350 1,665 1,706 -117 -595 39,1341,637 30 1,192 8,138 -659 367 116 333 2,648 2,180 -143 -4,727 41,392

1979-Jan......... 2,043 107 1,295 4,112 956 430 -192 354 754 1,849 -147 -369 41,095Fiscal 1979

6,456 426 5,428 20,217 2,036 1,530 -162 1,338 6,712 10,049 -502 -5,993 164,313

Sources Monthly Treasury Statement of Receipts and Outlays of the UnitedStates Government. Budget estimates are based on the1980 Budget of the U.S. Government, released January 22, 1979.

Not,e: Outlays consist of disbursements less proprietary receipts fromthe public and certain intrabudgetary transactions. Agency shifts are shown in this table beginning with the period of such shifts; figures prior to the shifts have been adjusted.

The Export-Import Bank was moved within the Budget effective October1* 1, 1976j pursuant to Public Law 93-646. Adjustments are made to include totals for the period it was outside the Budget (August 17, 1971 through September 30, 1976). Also, adjustments are made to reflect certain Export-Import Bank borrowing transactions now classified as agency debt. These transactions were previously reported as off-budget negative outlays.

1/ Pursuant to Public Law 95-91, as of October 1, 1977, all functions of

the Energy Research and Development Administration, Federal Energy Administration, and Federal Power Commission, and certain functions of Interior (Bonneville Power Administration and other Power administrations), certain other departments, and the Interstate Commerce Commission were transferred to the Energy Department.

2/ Cumulative year to date figures may not add due to budget realignments, 3/ Prior to January 1975, Rents and royalties on the Outer Continental

Shelf lands vere shown as proprietary receipts from the public for the Interior Department. To conform with the FY 1976 Budget Document's presentation, these amounts were reclassified and are now being shown as undistributed offsetting receipts.

4/ Reported on an annual basis.5/ For content see Table FF0-4.b / Budget Outlays are revised to reflect Earned Income Credit payments in

excess of an inclividual' s tax liability, formerly treated as outlays and classified as income tax refunds,

r Revised.

March 1979 7

Table FFO-4. - Undistributed Offsetting Receipts

_____ FEDERAL FISCAL OPERATIONS_____

(In millions of dollars)Federal employer contributions to retirement funds Interest credited to certain Government accounts

Fiscal year or month

Health, Education, and Welfare Dept.

Civil Service Commission

Other1/ Total

DefenseDepartment Health, Education, and Welfare Department

Federal Old-Age and Survivors Insurance Trust Fund

Federal Disability Insurance Trust Fund

Federal Hospital Insurance Trust Fund

Federal Supplementary Medical Insurance Trust Fund

Federal Old-Age, Disability, and Hospital Insurance

Civil Service Retirement and Disability Fund

Soldiers' &AirmensHomePermanentFund

1970................ 728 1,709 8 2,444 3 1,346 221 138 12727 1,876 8 2,611 3 1,617 324 183 ' 17742 2,018 9 2,768 3 1,718 388 190 291973................ 816 2,101 10 2,927 3 1,848 435 198 43

911 1,756 652 3,319 4 2,039 479 406 771975................ 1,082 1,918 980 3,980 7 2,296 512 607 1041976................ 1,138 2,080 1,024 4,242 6 2,346 467 708 104T.Q................. 294 592 99 985 1 80 13 5 41977................ 1,152 2,192 1,204 4,548 6 2,275 374 770 1321978................ 1,266 2,427 1,170 4,863 6 2,153 249 780 2291979 (Est.).......... 1,339 2,632 1,417 5,388 7 1,880 300 883 3011980 (Est.).......... 1,428 2,645 1.408 5,482 7 1.660 402 1,063 3361978-Jan............ 107 202 34 343 _ 9 1 4 2Feb............ 111 205 69 385 _ 67 10 3 5

Mar............. 110 196 77 382 2 28 4 3 8Apr.... . 106 182 58 346 - 50 5 5 14May............. 114 249 51 415 - 49 8 9 10June........ 113 209 51 373 2 831 86 361 97July............ 108 191 52 351 _ 11 2 4 2Aug...... ...... 110 202 50 362 - 63 10 2 4Sept.............. 107 192 548 847 2 31 5 3 2

98 42 59 199 - 58 4 4 7102 210 50 364 - 80 7 9 4103 350 53 508 2 730 112 398 144

1979-Jan............ 109 214 55 378 - 11 2 7 2Fiscal 1979 412 816 221 1,449 2 879 124 418 158

Interest credited to certain Government accounts - Continued

Labor Trans Veterans Administration Civil Service Rents andFiscal year or month Department

portationDepartment Government National

CommissionRailroad

royalties on the Outer GrandTotal

UnemploymentTrust Fund

Black Lung Disability Trust Fund

Life Service Civil Service Retirement and Disability Fund

Retirement Other2/Total Continental

Shelf lands 2/HighwayTrust

FundInsuranceFund InsuranceFund

Board

1970.............. 601 - 115 31 245 987 215 20 3,936 - 6,3801971.............. 637 - 184 31 271 1,232 251 14 4,765 - 7,3761972.............. 496 - 206 32 292 1,464 258 12 5,089 - 7,8581973............ 487 - 247 31 309 1,566 262 23 5,452 - 8,3781974.............. 650 - 415 31 338 1,838 257 40 6,574 - 9,8931975.............. 639 - 586 31 368 2,136 274 130 7,690 2,428 14,0981976.............. 283 - 587 31 398 2,463 246 162 7,800 2,662 14,704T.Q......... ...... 55 _ 13 * 8 71 16 3 270 1,311 2,5671977.............. 232 - 593 32 433 2,8a 230 213 8,131 2,374 15,0531978.............. 266 1 662 32 460 3,356 209 246 8,651 2,259 15,7721979 (Est.)........ 430 - 836 31 500 4,089 228 297 9,782 3,500 18,6701980 (Est.)..... 545 - 918 30 516 4,910 211 342 10,940 2,600 19,0221978-Jan....... . 3 _ 1 * * 49 * 1 71 61 475

Feb........... 19 3 * 6 76 11 1 201 90 677Mar......... 11 - 5 * * -6 4 1 60 138 58112 - 8 * 1 15 4 1 115 242 703

May........... 33 _ 12 * * 14 15 2 152 717 1,28468 - 318 16 225 1,526 65 120 3,714 137 4,225July.......... -23 _ 2 * * 11 * 3 12 39 402Aug........... 36 - 5 * 7 130 11 2 270 96 729Sept........ 11 1 10 * * 69 5 5 145 97 1,089

-13 * 16 * 1 16 7 2 103 95 39733 * 16 * * 65 15 3 231 117 713194 * 355 17 255 1,792 81 139 4,219 143 4,870

1979-Jatx...........Fiscal 1979 -36 * 2 * * 3 * * -9 147 516179 * 388 17 256 1,875 104 144 4,544 502 6,495

Source: Monthly Treasury Statement of Receipts and Outlays of the UnitedStates Government.Note: Budget estimates are based on the 1980 Budget of the U.S.Government, released January 22, 1979.

2 / Includes receipts from off-budget Federal agencies to the Civil Service Retirement and Disability Fund as of May 1974.

2/ Beginning fiscal 197-4, includes adjustments of interest on public debt issue to convert to the accrual basis. Also includes Indian tribal funds, Interior Department, Judicial survivors annuity fund, State,

foreign service retirement and disability fund, and Airport and Airway trust fund.

2 J Prior to January 1975, Rents and Royalties on the Outer Continental Shelf Lands were shown as proprietary receipts from the public for the Interior Department. To conform with the FY 1976 Budget Documents presentation, these amounts were reclassified and are now being shown as undistributed offsetting receipts. As a result, the detail will not add to the Fiscal Year 1974 totals.

* Less than $500,000. r Revised.

Table FFO-5. - Budget Outlays by Function 00

(In millions of dollars)

FunctionF.Y. 1978 F.Y. 19791 Comparable

periodfiscal1978Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Cumulative to dateNational defense:

' 8,437r -180r

*8,5591133

10,855-135-19

8,3771132

9,141-33-2

9,181-59-3

' 8,515 -29 9

9,800-54-4

8,99628-18

9,300-12321

9,437-187-10

9,307149-5

9,438-134

*37,482-296

533,838-18618

Proprietary receipts from the public.....

8,257r 8,676 10,701 8,492 9,107 9,120 8,495 9,742 9,006 9,197 9,239 9,450 9,304 37,191 33,670International affairs

913r -896r

1 -*390-500

_*738

-1,5321,686-427

-*75169I

_*1,900-802

-*

1,267-1,036

_*1,439-452

1,184-748-49

1,135-748-63

1,096-1,143

-*1,305-965

-*

1,489-939

-*5,025-3,795

-634,139-2,908

-8317r -110 -795 1,259 60 1,099 231 987 387 324 -47 339 550 1,167 1,148

General science.snace and technology371-1 392_* 433*

380 429-2

393*

368*

405_*

403 368-1412-* 407-*

421-1

1,609-2

1,521-2

Total................................ 370 392

363-45

433 379 428 393 368 405 403 367 412 407 421 1,607 1,519EnergyOutlays............................... 36br

-48r-r

430112

396-231

604-54

679-52

592-43

684-63

1,016-83

881-60 837-45 794-46

689-67

3,201-218

1,715-175Proprietary receipts from the public.... .Intrabugetary transactions..............

Total................................ 318r 319 542 165 550 627 548 621 933 821 792 747 622 2,982 1,540Natural resources and environmentOutlays............................ . 946r

-119r-2r

829-185-3

991-147-4

1,087-314-2

1,038-189-1

1,066-74-2

1,069-213-2

1,172-179-12

1,526i -129 -7

1,055-170-7

1,137-241-7

1,487-353-9

1,158-189-16

4,837-953-39

4,284-344-8

Proprietary receipts from the public.....Intrabugetary transactions..............Total................................ 825r 641

-48-9

841 771 848 990 854 9 82 1,391 878 889 1,125 953 3,845 3,933AgricultureOutlays............................... l,740r

46r 707-26815

4833

-96-69

16617

390-4

26221

92722 1,396-24 1,66913

1,761-6

5,7534

6,134-16Proprietary receipts from the public.....

Commerce and housing creditOutlays...............................

l,787r -57 680 23 82 -165 183 386 283

471-4'

949, 1,372 1,681 1,755 5,757 6,117

18r-3r-*r

-623-2

55-2_*

-18-4

-22

218-2

-119-2_*

463-3

-108-2 2,126-2

42-2-*

311-2-*

111-2'-*

2,591-8-*

2,974-8-*

Proprietary receipts from the public.....Intrabugetary transactions..............

TransportationOutlays...............................

15r -626 52 216 -121 460 -110 467 2,124 41 309 109 2,582 2,965

l,352r-*r-lr

1,080-4

995-4_*

1,157-4-*

1,120-5*

1,613-27

1,421-6-*

1,302-13-*

1,576-4, 1,7!3

-*

1,424-10-*

1,378-4-*

1,425-6-*

5,927-24-1

5,361-37*1

Proprietary receipts fron the public.......Intrabugetary transactions.................Total................................ l,351r

661r23-6

1,076 991 1,153 1,114 1,585 1,415 1,288 1,572 1,695 1,414 1,374 1,419 5,902 5,3233,125-181-19

finmrmin'f+.v and TPCffonal dpvp"LoTJmpn+.Outlays.......... .................... 772

5-51,525

%

780-2-6

1,193 1,013-30

881-12-9

1,323-103-2

1,346!126-38

1,086-148-91

991-71-10

843-81-9

79417-10

3,714-283-37

Properietary receipts from the public....Intrabugetary transactions..............Total................................ 678r 773 1,461 771 1,185 983 859 1,218 1,435 929 910 753 800 3,393 2,925

7,663-3

Education, training, employment and social servicesOutlays............................... 2,0 65r

-1 2,058-12,217

-31,914

-12,391

-12,222 2,105

-62,099

2,718-2

2,267--41

2,144-1

2,246-2 2,2092 2,470-2

9,068-3Proprietary receipts from the public.....

2,064r 2,058 2,214 1,913 2,389 2,222 2,716 2,2631 2,144 2,244 2,210 2,467 9,065 7,660Footnotes at end of table.

Muhw$2O

0hdM

1Ia?1Qt33

I 5I*

(In millions of dollars)

Table FFO-5. - Budget Outlays by FunctionContinued

FunctionF.Y. 1978 F.Y. 1979 Comparable

periodfiscal1978

Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan.Cumulative to date

Health3,742r

-1-476

4,174*

-540

5,127-14-1,218

4,09810

-519

4,214*

-499

4,378-2

-500

4,130-4

-529

4,586-2

-545

4,049-4

-449

4,563-4

-522

4,5061

-550

5,520-5

-7984,748

3-602

19,337-4

-2,47317,129

-8-2,447

Proprietary receipts from the public.

Total............................. 3,265r 3,634 3,895 3,589 3,716 3,876 3,597 4,039 3,595 4,037 3,957 4,717 4,149 16,860 14,674Income securityOutlays............................Proprietary receipts from the public.... Intrabudgetary transactions.............

12,365r-*-34

12,326-253

13,662-552

11,663-112

12,232-3

14,1312-1,621

11,642*-2

12,267-2

13,066-310

12,133-*-317

12,369-*-11

13,227-*-759

12,961-*-2

50,690-*

-1,08947,656

-1-967

Total.............................. 12,33ir 12,073 13,109 11,551 12,230

1,769-43

12,512 11,641 12,266 12,756 11,815 12,358 12,469 12,959 49,601 46,688Veterans benefits and servicesOutlays,............ .............. 725r

-40-*

1,573-44

2,720-58

611-44_*

2,476-42

656-46_*

1,575-45

1,483-40

1,690-43-*

1,706-39-*

2,692-42-*

806-49-*

6,895-173-1

6,622-155-1

Proprietary receipts from th public.... Intrabudgetary transactions.... .Total.............................. 685r 1,529 2,662 567 1,726 2,433 610 1,529 1,442 1,647 1,667 2,650 757 6,721 6,466

1,207-3

Admiiiigtratj,Qn

1 0

.FEDERAL FISCAL OPERATIONS,

Treasury Bulletin

Table FFO-6. - Investment Transactions of Government Accounts in Federal Securities (Net)

(In m illio n s of d o lla rs )

H ealth , Education, and W elfare Department Housing and Urban Development Department Labor Department

F is c a l y ear o r month

Federal Old-Age and Survivors Insurance T rust Fund

FederalD is a b ilityInsuranceT rustFund

Federal H ospital Insurance T rust Fund

Federal Supplementary Medical Insurance Trust Fund

Other

FederalHousingAdministra t io n

Government N ational Mortgage Assn. FederalInsurance

Administra t io n

OtherUnemployment T rust Fund

Other' P a r t ic i patio n Sales Fund

Other

1970......................................... 3 ,9 5 3 1 ,3 4 2 693 -3 4 5 * 131 -3 6 9 - 8 28 _ 4 8 8 *1971......................................... 1 ,2 7 4 1 ,2 6 3 377 244 - 1 128 197 - 6 14 2 - 1 ,7 4 7 _ *1972......................................... 1 ,8 2 7 934 - 1 4 6 2 2 1 - 109 - 2 0 2 - 8 1 5 - 1 , 4 2 8 _*1973......................................... 2 , 2 9 8 792 1 ,3 3 8 2 2 2 _ * 31 299 - 4 6 9 1 ,1 4 4 _ *1974......................................... 2 ,2 1 7 391 3 ,6 4 2 531 * 63 184 1 5 15 1 ,1 6 51975......................................... 2 ,175 -3 7 1 ,8 9 7 1 4 8 - 2 0 0 223 1 2 - 8 8 -4 ,9 3 81976......................................... - 1 ,9 2 4 - 1 ,2 2 7 1 , 1 8 1 - 1 4 8 * 118 261 29 1 2 7 - 2 ,3 7 3 *T.Q........................................... -9 1 3 -4 7 7 67 14 - 28 27 2 2 -4 7 104 - 1

- 1 ,6 4 5 - 2 , 2 1 1 -3 6 988 1 190 -9 5 17 - 3 1 ,0 7 3 - 1-4 ,4 4 3 1 1 0 784 1 ,7 8 9 1 1 0 0 -3 1 3 37 -3 6 - 3 ,5 3 0 _*

1979 ( E s t . ) ........................ - 3 ,0 4 5 1 ,1 5 3 1 ,5 9 2 983 ' - 165 79 - 1 - 2 1 54 5 ,3 0 0 _1980 ( E s t . ) ........................ -1 ,2 6 5 1 ,782 3 ,5 0 8 223 - 154 6 8 4 -1 3 51 3 ,3 0 0

1 9 78-Jan ............................... -1 ,2 8 9 -1 5 7 -1 ,0 5 6 6 6 _ * 2 0 -* _ _ -5 5 3Feb................................ 1 ,5 7 0 93 151 204 * 49 1 1 8 - 5 _ 308Mar............................... - 1 ,5 0 4 193 891 180 -* -1 5 40 - 1 - 2 _ -6 9 1 _Apr................................ 723 258 1 2 0 -9 4 * 1 0 -1 2 6 3 - _ 528 5May................................ 1 ,9 9 5 -2 6 -2 4 9 99 * 6 153 60 - 2 _ 3 ,5 8 2 14June............................. - 1 ,9 0 9 417 817 127 * * 24 - 4 4 - - - 8 4 8 19Ju ly ............................. - 1 ,3 7 9 14 -9 2 118 _ 2 2 -1 5 4 _ _ 348 19Aug................................ 2 ,4 2 9 _* -2 0 9 65 * 2 0 -5 0 3 2 - 1 8 _ 2 , 0 2 1 19Sept............................. - 2 ,0 8 6 185 204 31 * 6 39 2 - - -6 6 9 -7 6O ct............................... -2 ,3 0 7 -297 -486 1 - -15 5 7 - _ - 1 1 8

80 -167 -355 -37 - 5 52 - 1 - - 984 1-1 ,1 9 5 319 510 358 * 24 -17 5 - - -496 13

19 79-Jan ................................ -1 ,2 9 6 -3 0 -7 9 2 1 2 * 1 1 15 2 _ _ -777 14F is c a l 1979

-4 ,7 1 8 -175 -410 534 * 25 55 13'

- -300 36

F is c a l year o r month

TransportationDepartment

TreasuryDepartment

V eteransA dm inistration

C iv ilServ iceCommission

FederalDepositInsuranceCorporatio n

Federal Savings and Loan Insurance Corporatio n

P o stalService

R ailroadR e tire mentBoard

A lloth er T o talA irport

andAirway Trust Fund

Highway Trust Fund

N ational S ervice L ife Ii^- surance Fund

Other

- 1 ,0 8 9 - 5 8 6 14 1 ,9 6 0 3 2 8 173 _ 268 237 1 0 ,0 6 2- 1 ,0 3 3 1 , 3 8 0 83 2 0 2 ,9 3 2 180 1 9 6 _ - 9 -1 4 5 7 ,4 1 7

1972........................................... - 822 1 , 2 0 1 62 29 3 ,1 2 3 438 1 4 8 1 ,3 7 0 - 1 1 0 26 8 , 4 2 0- 1 ,0 9 4 353 272 26 3 ,3 3 7 537 257 -2 8 0 24 67 1 1 ,8 2 1

878 2 ,0 4 9 -5 6 6 178 30 3 ,6 6 9 225 378 - 2 9 2 -6 0 1 1 0 1 4 ,8 1 31 ,0 5 8 1 ,9 3 7 -9 2 0 1 1 1 27 4 ,6 3 5 404 316 -9 0 -2 9 0 165 7 ,0 3 1

593 -5 0 5 56 215 42 5 ,2 5 3 470 3 6 8 125 - 2 4 6 2 , 0 3 0 4 ,3 4 1T.Q.............................................. 183 - 7 9 40 25 * -7 5 5 -1 2 8 135 599 -6 6 0 - 1 ,6 8 2 -3 ,5 1 4

534 1 ,1 2 7 525 219 40 7 ,4 2 8 855 424 -1 6 0 -1 7 1 145 9 ,2 4 3441 1 ,4 9 9 -2 8 2 268 54 7 ,1 3 4 569 404 450 -1 0 4 191 1 2 ,1 8 1

1979 ( E s t . ) ........................... 528 1 ,3 4 8 - 225 34 8,597 1 , 1 2 1 390 -1 6 - 2 1 0 486 18,7621980 ( E s t . ) ........................... 773 1 ,162 - 197 37 8 ,8 9 8 1 ,192 506 T485 -3 0 709 20 ,77019 7 8 -Ja n .................................. 33 157 2 -2 7 - 1 -3 5 9 23 2 0 -2 2 6 - 6 4 43 - 3 ,3 7 0

Feb.................................. 6 0 155 - 1 - 9 - 2 -1 7 2 448 98 - 1 4 6 - 7 0 - 2 9 2 ,7 2 1Mar.................................. a 191 -3 2 - 2 2 - 2 -2 6 6 89 1 1 - 4 2 2 -145 4 - 1 , 4 6 2Apr.................................. 42 195 -3 8 - 1 8 - 2 -4 0 9 -1 0 8 1 2 36 -2 8 9 2 849May.................................. 55 8 8 - 1 3 8 -3 0 - 7 - 1 3 2 134 - 2 2 -1 5 0 - 3 107 5 ,5 3 6June................................ 149 3 8 0 -3 2 205 41 1 ,0 9 9 67 33 258 1 , 3 1 6 -1 2 9 1 ,9 9 0Ju ly ................................ 44 -3 3 -1 6 -1 8 - 1 -3 7 9 43 23 -1 6 4 -3 2 7 - 7

&H1

Aug.................................. - 9 7 131 1 2 -1 3 - 4 -2 9 1 195 91 2 1 3 3 32 4 ,0 9 8Sept................................ - 9 0 -7 3 -4 3 -1 7 - 4 7 ,6 1 8 2 1 15 -7 0 1 - 2 0 1 105 4 ,2 6 5O ct.................................. 38 -163 -47 -19 -5 -465 41 19 1 ,904 51 95 -1 ,6 4 2Nov.................................. 60 93 485 - 2 2 -4 -305 131 1 1 0 - 3 3 - 1 -15 1,060

171 302 965 230 45 1 ,279 7 1 0 108 -53 1 2 2 ,599

1979-Jan .................................. 43 161 -38 -36 -9 -413 109 41 55 -328 72 -2 ,2 7 3F is c a l 1979

312 393 1,366 155 27 96 288 180 2 ,0 3 4 -331 163 -257

Source; Monthly Treasury Statem ent o f R eceipts and Outlays o f th e United Note: Figures may not add due to rounding.S ta te s Government. Budget estim ates are based on the 1980 Budget of * Less than $500 ,000 .th e U.S. Government, re leased January 2 2 , 1979.

Table FFO-7. - Trust Funds Transactions October 1, 1978 through January 31, 1979

(In m illions of d o lla rs )

Receipts Outlays

Unified budget re c e ip ts a t t r i b utab le to t r u s t funds 1/

(5 )

Interfund tra n sa ctio n sUnifiedbudgetoutlaysa t tr ib utabletot r u s tfunds

(15)

C la s s if ic a tio nTotal intru s tfunds

(1 )

Trust interfund and prop rie ta ry re ce ip ts 1/

(2 )

Receipts of t r u s t funds

(3)

Interfundtran sactio n s2J

(4 )

T o tal int ru s tfunds

(6 )

Trustin te rfundtran sactio n s

(7)

Proprie ta ry re c e ip ts from the public

(S)

Outlays o f t ru s t funds

(9 )

Federal payments and contrib u tio n s

(1 0 )

Federalemployerco n tributions

(1 1 )

In te re s t and prof i t s on investments in Federal s e c u r itie s

(1 2 )

Other

(13)

Total4 /

(14)

Excess o f re c e ip ts o r outlays ( - )

(16)

Federal Old-Age and Survivors 123,715 * 23,715 1,785 21,930 28,421 _ * 28,421 615 291 879 _ 1,785 26,636 -4 ,7 0 74,353 * 4,353 318 4 ,0 3 4 4 ,5 2 2 - * 4 ,5 2 2 142 52 124 - 318 4 ,2 0 4 -170

5,920 * 5,920 628 5,293 6 ,417 - * 6 ,417 141 69 418 - 628 5,789 -497Federal Supplementary Medical

i 3 ,346 * 3,346 2 ,490 857 2,821 - * 2 ,821 2 ,3 3 2 158 _ 2,490 331 525Federal Employees Retirement................... 4 ,124 4 4 ,120 2,995 1,126 4 ,0 0 7 4 - 4 ,0 0 4 6 1,037 1 ,889 63 2 ,995 1,009 117Federal Employees L ife and

Health B en efits ............................................... _ _ _ _ 14 . - 14 _ - _ _ 14 -14

Federal Deposit Insurance- - - - -324 - - -324 - - - - - -324 324

633 633 128 505 312 - - 312 - - 128 - 128 184 321

6,855 6 ,855 - 6,855 3 ,406 - - 3 ,406 - - - - - 3 ,406 3,4492 , 8 6 6 2 , 8 6 6 388 2 ,478 2 ,483 - - 2 ,483 - - 388 - 388 2,095 383

M ilitary A ssistance Advances................... 3 ,454 3 ,454 - - - 2 ,462 - 3 ,4 5 4 -993 - - - - - -993 9931,016 1*046* 417 599 1,386 - - 1 ,3 8 6 313 - 104 * 417 969 -371

3,225 - 3 ,225 189 3,037 3,075 - - 3 ,0 7 5 - - 179 1 0 189 2,887 150429 155 274 Ilk - 264 - 155 109 - 274 1 274 -165 165357 218 139 50 89 246 - 218 28 14 - 4 32 50 - 2 2 1 1 2

T o ta l.................................................................... 60,294 3,831 56,463 9 ,6 6 1 46 ,802 59,512 4 3,827 55,682 3 ,562 1,449 4 ,5 4 4 106 9 ,661 46,020 781

&k mvo'vlvo

&

Source: Based on cne Monthly Treasury Statement of R eceipts and Outlays of the United S ta te s Government.

Note: The memorandum sectio n of various tab les in the Federal Budget presents the t r u s t fund re ce ip t and outlay data on the same concept as columns (3) and (9 ) above. Trust interfund tran sactio n s are payments from one fund to another t ru s t fund and are excluded in calcu latin g t r u s t fund re c e ip ts and ou tlays. The intragovernmental tran sactio n s are payments from Federal funds to t ru s t funds, and v ice v e rsa , but

exclude $ 6 6 m illio n in t r u s t fund payments to Federal funds.2 / For content see columns 7 and 8 .2 / For content see columns 1 0 -1 3 .2J Includes n et ta x e s and oth er r e c e ip ts , mainly deposits by S ta te s and

Federal employee retirem en t con trib u tion s. y Excludes t r u s t fund payments to Fed eral funds, such as charges fo r

adm inistrative expenses of S o cia l S ecu rity A ct.* Less than $ 5 0 0 ,000 .

.FEDERAL

FISCAL O

PERATIO

NS,

12.FEDERAL OBLIGATIONS,

Treasury Bulletin

"Obligations are the basis on which the use of funds

is controlled in the Federal Government. They are recorded

at the point at which the Government makes a firm commitment

to acquire goods or services and are the first of the four key events order, delivery, payment, consumption which

characterize the acquisition and use of resources. In gen

eral, they consist of orders placed, contracts awarded, ser

vices received, and similar transactions requiring the dis

bursement of money.

The obligational stage of Government transactions is a strategic point in gauging the impact of the Government's

operations on the national economy, since it frequently rep

resents for business firms the Government commitment which

stimulates business investment, including inventory purchases and employment of labor. Disbursements may not occur for

months after the Government places its order but the order

itself usually causes immediate pressure on the private economy.

Obligations are classified according to a uniform set

of categories which sure based upon the nature of 'the transaction without regard to its ultimate purpose. All payments for salaries and wages, for example, are reported as personnel compensation, whether the personal services are used in current operations or in the construction of capital items.

Federal agencies and firms often do business with, one andther; in doing so, the "buying" agency records obligations, and the "performing" agency records reimbursements. In Table FO-1, obligations that are incurred within the Government are distinguished from those incurred outside the Government. Tables FO-2, 3, and k show only those incurred outside.

Obligation data for the administrative budget fund accounts were first published in the September 1967 Treasury Bulletin and the trust fund accounts were first published in the October 1967 Bulletin. Beginning with the April 1968 Bulletin, the data are on the basis of the budget concepts adopted pursuant to the recommendations of the Presidents Commission on Budget Concepts.

March 1979 13.FEDERAL OBLIGATIONS.

Table PO-1. - Gross Obligations Incurred Within and Outside the Federal Government

by Object Class, October 31, 1978

_________________________________________________ (In m illio n s o f d o lla rs )___________________________________________

Object c la s sGross ob lig atio n s incurred

Outside

Personal se rv ice s and b en efitsPersonnel compensation.................Personnel b e n e f its ...........................B en efits fo r former personnel.

Cofllfeagtaal seyyjces gxfl s u p p le s Travel and tra n sp o rta tio n of persons.Transp ortation o f th in g s .............................Rent, communications, and u t i l i t i e s . .Printing and reproduction...........................Other s e rv ic e s .....................................................Supplies and m a te ria ls ..................................

A cquisition o f c a p ita l asse tsEquipment...........................................Lands and s tru c tu re s .................Investments and lo a n s ...............

Grants and f ix e d charges G ran ts, su b sid ies , and co n trib u tion s.Insurance claim s and indem nities..........I n te re s t and dividends..................................Refunds.....................................................................

OtherU ndistributed U.S. o b lig atio n s. O bligations incurred a b r o a d ... . Unvouchered.............................................

4 ,8 0 663

904

207153376

436 ,631

-372

3,869415

1 ,9 4 0

6 ,4 4 311,328

3 ,3 7 042

-116580

18

51210307

393 ,2471 ,473

957242-1

1,007

28860

Gross o b ligatio n s incurred 1 / . 40 ,701 8 ,336

4 ,8 0 6519904

258363683

829 ,8 7 81,101

4 ,8 2 6657

1 ,939

6 ,4 4 311 ,328

4 ,3 7 742

172641

19

49 ,037

Source: Reports on O bligation s, Standard Form 2 25 , from agencies.1 / For Federal Budget p resen tatio n a concept of "net o b lig ation s

incurred " i s g en erally used. This concept elim in ates tra n sa ctio n s w ithin th e Government and revenue and reimbursements from the public which by s ta tu te may be used by Government agencies without approp ria tio n a c tio n by the Congress. Summary fig u res on th is b asis follow . (This data i s on the b a sis o f Reports on O bligations received from the agencies p rio r to re p o rts submitted fo r Budget

p resen tatio n and th e re fo re may d if fe r somewhat fpom the Budget document.)

Gross o b ligatio n s incurred (as above)............................. 4 9 ,037Deduct:

Advances, reimbursements, other income, e t c .......... -1 0 ,0 0 2O ffsettin g r e c e ip ts ................................................................... -261

Net ob lig atio n s in cu rred ................................................ 38 ,774

Table FO-2. - Gross Obligations Incurred Outside the Federal Government by Major Function

and Major Object Class, October 31, 1978(In m illio n s of d o lla rs )

Major o b je ct c la s s

Major functionPersonalse rv ice s C ontractual se rv ice s and

supplies

A cq uisition o f c a p ita l a s s e ts Grantsand Other T o taland

b e n e fits Equipment Lands and s tru ctu re sInvestments and loans

fixedcharges

4 ,1 5 3 3 ,746 3 ,709 70 - 15 539 12,23224 30 9 5 281 192 47 589

General sc ie n ce , space, and technology. 55 492 4 1 0 - 18 - 58098 1,4 5 4 49 2 - 58 - * 1 ,6 6 0

186 195 13 257 * 1 0 1 8 7602 1 267 * * 929 421 -206 , 1 ,43257 15 1 * 625 179 - 1 87584 92 57 51 58 416 - 759

Community and reg io n al d e v e lo p m e n t..... Education, tra in in g , employment, and

33 1 1 * -5 188 108 334

48 2 1 6 * - 387 * 464H ealth............................................................................. 99 334 2 3 4 34 -3 473

189 58 * - - 10 ,758 - 1 1 10 ,9 9 4369 150 17 1 0 47 1 ,206 1 1 ,801145 46 2 3 - 430 * 627209 126 * 4 - 649 - 989

1 1 * * - 2 ,3 6 4 - 2 ,3 6 4

- - - - - 3 ,767 - 3 ,767

5 ,7 7 3 7 ,038 3 ,869 415 1 ,9 4 0 21,183 482 4 0 ,701

* Less than $500,000.

14 Treasury Bulletin

Table FO-3. - Gross Obligations Incurred Outside the Federal Government by Department or Agency, October 31, 1978

__________________ FEDERAL OBLIGATIONS......

(In m illio ns of d o lla rs )

C la s s if ic a tio n

Personal se rv ice s & b en efits C ontractual se rv ice s and supplies

Personnelcompensatio n

Personnelb en efits1 /

B en efitsforformerpersonnel

Travel and tran sp orta tio n of persons

Transporta tio n of things

Rent, comm unications, andu t i l i t i e s

P rin tin gandreproduction

Others e rv ice s

Supp lie sandm ateria ls

2 2 - - * * 8 29 1 3The J u d ic ia ry ............................................................ " ~ " - - - -Executive O ffice of the P resid en t............. 1 " " * - * * *Funds appropriated to the P resid en t:

In te rn a tio n a l se c u rity a s s is ta n c e : 2 - * * - * - * *In te rn a tio n a l development a ss is ta n ce 14 * * * * 1 * 1 *

2 - - * * * * 13 3A gricu ltu re Department:

Commodity C redit Corporation.................... * " - * 1 1 - 29 21460 - * 3 * 2 * 1 2 1

Commerce Department.............................................. 49 * * 3 * 2 * 14 1

Defense Department:M ilita ry :Department of the Army...................... 944 2 0 * 90 18 64 * 1 ,7 1 6 -3 ,9 2 8

1,250 31 * 34 62 64 8 2 ,299 8 6 6Department of the A ir F o rce ...................... 958 1 1 * 2 2 18 29 * 1 ,142 392

109 - 822 4 8 53 1 225 5501 - - * - * * 4 *

3 ,262 62 822 150 106 2 1 0 9 5 ,386 - 2 , 1 2 0

C iv i l ............................................................................... 70 * 1 * 4 * 82 913 - 1 * 2 * 1 2 1

H ealth, Education, and W elfare2 1 0 * 6 7 1 1 1 * 2 2 9

Housing and Urban Development Dept:Government National Mortgage

A sso cia tio n .............................................................. - - - - - - - -Housing fo r the e ld erly or

- - - - - - -O ther............................................................................. 2 0 - - 1 * * * 10 *

80 * * 2 1 1 0 * 44 598 - * 6 1 9 * 16 845 60 3 * 8 * 14 1

3 - - 2 2 * * 2 *52 * 14 2 1 12 * 37 29

Treasury Department:In te re s t on the public debt...................... - - - - - -In te re s t on refunds, e t c ............................. - - - - - - - - -

- - - - - - - - -178 - - 7 1 7 1 6 4

Environmental P ro tectio n Agency.......... .. 5 - * 2 * 5 * 1 1 147 - * * * 54 * 16 1

N ational A eronautics and Space55 - * 2 * 1 0 * 438 7

368 - - 8 1 13 * 57 70Other independent agen cies:

1 - - * - * * * *Small Business A dm inistration.................... 10 * * * * - - 3 .Tennessee V alley A u th ority ........................... 83 - - * 25 2 * 35 1 ,375O ther............................................................................. 56 * 1 5 * 7 * 369 2T o ta l ............................................................................. 4 ,8 0 6 63 904 207 153 376 43 6 ,6 3 1 -372

Off-budget Federal agencies kjx1 ,138 - 4 4 103 35 * 18 18

Rural E le c tr i f ic a t io n A dm inistration- - - _ _ . - _

Pension B en efit GuarantyC orporation................................................................. 1 - - * * * * * *

T o tal Off-budget Federal1 ,139 - 4 4 103 35 * 18 18

March 1979 15

Table FO-3. - Gross Obligations Incurred Outside the Federal Government by Department or Agency,October 31, 1978Continued

mmiaPAT. OBLIGATIONS________________

(In m illio ns of d o lla rs )

Grants and fixed charges Other TotalAcquistxon of c a p ita l a s s e ts G rants, Insurance

claim s and indemn i t ie s

In te re s tanddividends

Refunds

U ndistributed U.S. Obligation s in

curred abroad

Un-grosso b liga

C la s s if ic a tio n Equipment

Landsandstru c tu res

Inves t - ments and loans

su bsidies, and contrib u tio n s

ob ligations

vouch-ered

tion sincurred

6 - - - - - - - - - 70- - - - - - - - - -

Executive O ffice of the P resid en t............ - - - - - - - - - - 1Funds appropriated to the P resid en t:

In tern atio n al se c u rity a s s is ta n c e : 1 - - - - - - - * - 2In te rn a tio n a l development ass is ta n ce * - - - 1 - - - 6 - 24

9 5 2 0 2 13 - - - * 5 - 253A gricu ltu re Department:

* - 606 331 - - - - 2 1 2 - - 979* * 918 573 15 192 1 2 109 3 - 1 ,9 0 26 * - 155 - - * - 1 8 240

Defense Department: M ilita ry :

Department of the Army............................... 2 ,3 5 4 19 - * 1 * - * 341 - 1 ,6411,027 30 - 1 * * - - * 1 0 5 ,683

Department of the A ir F o rce .................... 324 14 - 2 * * - - 153 - 3 ,067Defense ag en cies.............................................. 2 7 - * 7 3 - - 35 - 1 ,8 2 3C iv il defense.......... ......................................... * - - 1 - - - - - - 6

3 ,707 70 4 8 3 - - 529 1 0 1 2 , 2 2 0

C iv il ............................................................................... 5 239 - 1 * - * - - - 413

1 * - - * 2 - - - - 33H ealth, Education, and W elfare

Department.............................................................. 2 3 4 148 1 2 1 3 - -14 - - 531Housing and Urban Development Dept:

Government N ational Mortgage- - - - - - - - - - -

Housing fo r the e ld e rly or- - - - - 1 - - - - 1

O ther.......................................................................... * 51 -14 293 1 2 2 6 - - - 3814 18 * 89 5 - - - - - 258

J u s tic e Department................................................ 1 3 - 159 1 - * - * * 302Labor Department..................................................... 1 * - 213 51 - - - - - 397S ta te Department..................................................... * * - 40 9 - - - 27 * 85

55 * - 263 * * - - - - 467Treasury Department:

- - - - - 3 ,011 - - - - 3 ,011I n tre s t on refunds, e t c ............................... - - - 729 - 26 - - - - 756

- - - 2 ,019 - - - - - - 2 ,019O th er........................................................................ * * - 664 9 ,198 - * - * * 10,066

Environmental P ro te ctio n Agency................. * * - 74 - - - - - - 99General Services A dm inistration................... * 4 - * - 14 - - - - 136National Aeronautics and Space

4* 1 0 - - - - - - - - 526Veterans A dm inistration.................................... 17 1 0 47 274 882 50 - - 1 - 1 ,7 9 9Other independent agencies:

* - 79 - - 1 2 - * - - 93Small Business A dm inistration................... - - 29 - - - - - - - 42Tennessee V alley A uth ority .......................... 48 2 - 8 * 47 - - * - - 1 ,626

1 * 70 391 1,027 6 24 1 9 - 1 ,9703 ,8 6 9 415 1,940 6 ,4 4 3 11,328 3,3 7 0 42 -116 580 18 4 0 ,701

Off-budget Federal agencies 4 / :1 1 0 - - 2 1 - - - - 1 ,3 3 4

Rural E l e c tr i f ic a t io n Adm inistration- - 198 - - - - - - - 198

Pension Bendfit Guaranty* - - - 1 - - - - - 3

T o tal Off-budget Federal1 10 198 3 1 - - - - 1 ,5 3 5

Source: R eports on O bligations, Standard Forms 225, from agencies.Note: Agency s h if ts are shown in th is tab le beginning with the periods

of such s h i f t s . The amounts fo r the complete f i s c a l year are adjusted a t th a t tim e.

1/ For purposes of th is re p o rt th is o b ject c la s s is considered as to ta l ly w ithin the Federal Government except fo r the Department of Defense and T ransportation Department, U .S. Coast Guard.

2/ Included rep o rts fo r Library of Congress, Government P rin tin g O ffice ,

and General Accounting O ffice only.3 / This fund was re c la s s if ie d from an off-budget to a budgetary account

pursuant to an a c t approved O ct. 4 , 1977.4 / P o sta l Service sin ce Ju ly 1 , 1973, Rural E le c tr i f ic a t io n A dm inistration

revolving funds sin ce May 12, 1973, and Pension B en efit Guaranty Corpora tio n sin ce Sept. 17 , 1974.

* Less than $ 5 0 0 ,000 .

Table FO-4. - Gross Obligations Incurred Outside the Federal Government, Comparative Statement by Month

Object c la s sF.Y,. 1978 F .Y . 1979

Comparable period FY 1978

Oct. Nov. Dec. Jan . Feb. Mar. Apr. May June Ju ly Aug. Sept. Oct.

National defensesPersonal serv ices and b e n e fits :

2,921 2,949 2,698 3,510 2,562 2,959 2,941 2,898 2,839 2,995 3,029 5 ,391 3 ,268 38,23271 2 2 0 6 158 6 14 17 2 2 49 54 55 24 62 1 ,770

741 746 750 747 753 770 772 770 772 807 768 829 822 9 ,005

Contractual serv ices and supplies:Travel and tran sp oration of persons................... 70 105 64 129 83 2 1 1 129 1 1 2 124 105 1 2 1 185 150 1,098

139 116 95 125 87 84 119 72 52 57 82 383 107 1 ,560141 127 168 281 149 146 197 8 6 198 107 151 305 209 1,816

4 6 9 1 2 27 1 0 1 0 7 4 1 1 59 9 543,981 1,945 2,030 3,771 2,149 1,238 2 ,197 1 , 0 1 1 2,218 1,558 1,276 4 ,0 5 4 5 ,390 29,4041,982 2,186 2,215 1,902 1,738 2,060 2,247 1 ,699 2,455 1 ,507 2 ,502 2,749 -2 ,1 1 9 23,235

A cquisition of ca p ita l a s s e ts :2,004 1,744 1 ,724 1,729 1 ,836 1 ,554 1,417 1,518 1,783 813 950 2,427 3,709 21,099

40 1 0 0 204 254 132 104 165 195 130 114 150 672 70 2,889 1 * " "

* k - * 1

Grants and fixed charges:3 4 14 14 3 3 * 3 2 1 * 4 5 59

46 8 8 7 8 9 7 13 2 7 7 9 8 1683 3 2 1 3 2 2 2 1 2 3 5 3 362 2 2 2 2 2 - 1 4 1 3 2 2 29

Other:1 - 1 - 1 183 7 5 42 6 - 2 17 7 18 * - 1

483 681 580 614 409 467 459 745 179 714 367 -3 ,6 4 6 529 3 ,9317 9 9 1 0 8 1 0 8 8 9 1 0 8 1 0 1 0 7

12,640 10,951 10,577 13,440 9 ,939 9 ,663 1 0 ,7 3 0 9 ,1 7 5 10,818 8 ,875 9,490 13,477 1 2,232 134,391

Non-defense:Personal se rv ice s and b e n e fits :

1 ,631 1,760 1,677 1,931 1 ,660 1,945 1 ,580 1,845 1,857 1 ,808 1,950 1 ,957 1 ,538 111,2599 7 1 1 7 - 1 -32 - * - * * * -* 2 1 94

Benefits fo r former personnel............................. 173 48 1 1 0 141 105 199 73 -23 1 2 2 8 8 8 84 7 ,562 81 8 ,895

Contractual se rv ice and supplies:64 6 6 63 77 67 8 6 73 81 81 75 79 97 57 88550 36 2 0 2 1 41 28 28 41 38 49 51 54 46 486

151 144 133 270 144 2 2 2 165 160 158 177 132 129 167 1,726333 38 43 34 28 38 35 28 39 32 38 47 34 406

1,600 1,083 1 , 1 0 0 3,846 1,959 1,529 1 ,719 1 , 1 1 0 2 ,524 1,388 1,434 2,860 1 ,241 16,0361,382 546 841 437 317 755 542 559 774 477 665 681 1,748 8 ,3 3 2

A cquisition of c a p ita l a s s e ts :1 0 0 105 180 209 135 196 126 129 138 164 184 451 161 1,729

Lands and s tru c tu re s ...................................................... 438 315 167 586 157 346 326 363 249 216 307 1,046 345 3 ,9551,716 1,823 3,800 3,273 2 ,413 3,136 2,172 2,709 2,023 3,355 3,011 5,685 1,940 23,803

Grants and fixed charges:8 ,451 7,804 11,719 10,382 6,465 8,360 10,749 8 ,409 12,716 15,229 1 0 , 2 1 0 38,306 6,438 150,114

11,658 11,705 12,780 10,534 12,985 15,921 12,276. 12 ,361 12,250 13,403 13,409 12,788 11,320 161,159In te re s t and dividends.................................................. 2,623 2,852 7,092 1,508 2,976 3 ,026 3,000 3,050 7,460 1,651 3,273 3,045 3 ,368 37,589

69 8 8 65 99 6 6 6 6 72 170 55 45 48 -85 42 1,476

Other:161 37 -610 55 63 -496 -235 292 -213 775 49 -1 ,3 1 7 -117 19749 42 104 1 0 2 57 133 75 8 6 1 2 1 140 357 38 51 1,082

Unvouchered........................................................................... 8 9 1 2 9 8 7 8 9 8 1 0 9 1 1 8 10630,366 28,508 39,307 33,521 29,645 35 ,465r 32,785 31,379 40,400 39,082 35,290 73,357 28,469 529,330

Grand t o t a l ........................................................................... 43,005 39,460 49,883 46,958 39,587 45,128 43,515 40,556 51,218 47,956 44,778 86,833 40 ,701 663,721

* Less than $500 ,000 . r Revised.

March 1979.FEDERAL OBLIGATIONS.

17

Table FO-1. - Gross Obligations Incurred Within and Outside the Federal Government

by Object Class, September 30, 1978

(In m illio n s o f d o lla rs )Gross o b lig atio n s incurred

O bject c la s sOutside Within T o tal

P e r s o ^ i . s e r v e s .frppgfttfl59 ,292 59,292

Personnel b e n e f its ...................................................................................................................... 697 5 ,669^XXXXXXXX^ OC^ X^ O^ XXOQQ*

6,3 6 6B en efits fo r former personnel...................................................... .. 17 ,906 17,906

Qofffractnal se rv ice s and s u p p le s Travel and tra n sp o rta tio n o f persons............................................................................ 2 ,346 559 2,905Transportation o f th in g s ......................................................................................................... 1 , 8 6 8 1,909 3 ,777Rent, communications, and u t i l i t i e s ............................................................................... 4 ,041 3 ,094 7 ,135P rin tin g a-nfl reproduction.........