Department Of Defense Agency Financial Report 2007 - Section 2: Financial Information Page 71
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82Section 2: Financial Information
Department of Defense Agency Financial Report 2007
Rivers and Harbors Contributed and Advance Funds, 33 USC 701h, 702f, and 703. Whenever any state or political
subdivision offers to advance funds for a flood control project duly adopted and authorized by law the Secretary of the Army
may, in his discretion, receive such funds and expend them in the immediate prosecution of such work. The funding may be
used to construct, improve, and maintain levees, water outlets, flood control, debris removal, rectification, and enlargement
of river channels, etc. in the course of flood control and river/harbor maintenance.
Inland Waterways Trust Fund, 26 USC 9506. This law made the Inland Waterways Trust Fund available for USACE
expenditures for navigation, construction, and rehabilitation projects on inland waterways. Collections for excise taxes from
the public are made into the Trust Fund. The collections are invested and investment activity is managed by the BPD. The
BPD purchases and redeems nonmarketable market-based securities. Investments include one-day certificates, bonds, and
notes.
Harbor Maintenance Trust Fund, 26 USC 9505. The USACE Civil Works mission is funded by the Energy and Water
Developments Appropriations Act. The Water Resources Development Act of 1986 was implemented to cover a portion
of USACE operations and maintenance costs for deep draft navigation. The Harbor Maintenance Trust Fund is available
for making expenditures to carry out the functions specified in the act and for the payment of all expenses of administration
incurred by the U.S. Treasury, USACE, and the Department of Commerce. Collections are made into the Trust Fund from
taxes collected from imports, domestics, passengers, and foreign trade. The collections are invested and investment activity
is managed by the BPD.
Foreign National Employees Separation Pay Account Trust Fund, 10 USC 1581. This fund makes payments from amounts
obligated by the Secretary of Defense that remain unexpended for separation pay for foreign national employees of the
Department. The foreign national employees’ separation pay funded by Foreign Military Sales administrative funds is
maintained as a separate fund.
Defense Commissary Agency Surcharge Trust Fund, 10 USC 2685. This fund was established as the repository for the
surcharge on sales of commissary goods paid for by authorized patrons to finance certain operating expenses and capital
purchases of the Commissary System, which are precluded by law from being paid with appropriated funds. Most Surcharge
revenue is generated by the 5% surcharge applied to each sale. These funds may be used to pay for commissary store-
related information technology investments, to purchase commissary equipment, to finance advance design modifications
to prior year projects, for both minor and major construction projects, and to maintain and repair commissary facilities and
equipment.
Education Benefit Fund, 10 USC 2006. This fund was established to finance, on an actuarially sound basis, the liabilities of
the Department’s education benefit programs for current and former active duty, guard, and reserve members of the armed
forces, and members of the Coast Guard. Financing sources for the Education Benefit Fund are interest earnings on Fund
assets and monthly Department contributions.
Voluntary Separation Incentive Fund, 10 USC 1175. This fund was established to finance, on an actuarially sound basis,
the liabilities of the Department’s incentive program for early separation from military service. Financing sources for the
Voluntary Separation Incentive Fund are interest earnings on Fund assets and annual Department contributions.
Military Housing Privatization Initiative, Public Law 104-106, Statute 186, Section 2801. The Military Housing
Privatization Initiative (MHPI) includes both direct loan and loan guarantee programs, is authorized by the National Defense
Authorization Act for FY 1996, and includes a series of authorities that allow the Department to work with the private sector
to renovate and build military family housing. The MHPI accelerates the construction of new housing, builds to market
standards, and leverages private sector capital with government dollars. The Department provides protection to the private
sector partner against specific risks, such as base closure or member deployment.
Armament Retooling and Manufacturing Support Initiative, 10 USC 4551-4555. The Armament Retooling and
Manufacturing Support Initiative is a loan guarantee program designed to incentivize commercial use of the Army's inactive
ammunition plants for businesses willing to locate to a government ammunition production facility. The production capacity
of these facilities is greater than current military requirements, however, this capacity may be needed in the future. Revenues
from property rental are used to pay for the operation, maintenance and environmental cleanup at the facilities.
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