Department Of Defense Agency Financial Report 2007 - Section 2: Financial Information Page 47
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82Section 2: Financial Information
Department of Defense Agency Financial Report 2007
5
Interest Rate
Technical
Modifications
Total Reestimates
Total
Reestimates
Reestimates
2006 Modifications and Reestimates:
Military Housing Privatization Initiative
$
0.0
$
0.0
$
(6.4)
$
(6.4)
$
(6.4)
Armament Retooling & Manufacturing
Support Initiative
0.0
0.2
11.6
11.8
11.8
Total
$
0.0
$
0.2
$
5.2
$
5.4
$
5.4
2007
2006
Total Loan Guarantee:
Military Housing Privatization Initiative
$
(0.2)
$
(6.4)
Armament Retooling & Manufacturing Support
Initiative
1.0
11.8
Total
$
0.8
$
5.4
Subsidy Rates for Loan Guarantees
There are no subsidy rates to report because the Department did not have any new loan guarantees in FY 2007.
Schedule for Reconciling Loan Guarantee Liability Balances for Post FY 1991 Loan Guarantees
As of September 30
2007
2006
(amounts in millions)
Beginning Balance of the Loan Guarantee Liability
$
36.8
$
41.1
Add: Subsidy Expense for Guaranteed Loans Disbursed during the Reporting Years
0.0
0.0
Adjustments
Foreclosed Property and Loans Acquired
2.3
0.0
Claim Payments to Lenders
(15.3)
(11.4)
Interest Accumulation on the Liability Balance
0.6
1.7
Other
(0.2)
0.0
Total of the above Adjustments
(12.6)
(9.7)
Ending Balance of the Loan Guarantee Liability before Reestimates
24.2
31.4
Add or Subtract Subsidy Reestimates by Component
Interest Rate Reestimate
2.1
0.2
Technical/default Reestimate
(1.3)
5.2
Total of the above Reestimate Components
0.8
5.4
Ending Balance of the Loan Guarantee Liability
$
25.0
$
36.8
Administrative Expenses
Administrative Expenses are limited to separately identified expenses for administrating direct loans and loan guarantee
programs. The Department does not maintain a separate program to capture the expenses related to direct loans and
loan guarantees for MHPI and the FMA. Administrative expenses for ARMS represent a fee paid to U.S. Department of
Agriculture, Rural Business Cooperative.
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