Department Of Defense Agency Financial Report 2007 - Section 2: Financial Information Page 73
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82Section 2: Financial Information
Department of Defense Agency Financial Report 2007
5
FY 2006 Statement of Net Cost
(amounts in billions)
Gross Costs
$4.8
Less: Earned Revenue
(0.2)
Net Cost of Operations
$4.6
Statement of Budgetary Resources
(amounts in billions)
Beginning Balance Change for FY 2007:
Unobligated Balance, Brought Forward
($1.0)
Obligated Balance, Brought Forward
$29.2
Comparative Year Effect for FY 2006:
Appropriation
$4.7
Spending Authority from Offsetting Collections
Earned
Collected
1.1
Permanently Not Available
(1.1)
Total Budgetary Resources
$4.7
Obligations
$4.7
Total Status of Budgetary Resources
$4.7
Gross Outlays
$5.2
Less: Offsetting Collections
(1.1)
Distributed Offsetting Receipts
13.8
Net Outlays
$17.9
Beginning balances were changed to accommodate the proper reporting of the EOP balances in the Department's
Statement of Budgetary Resources. The Unobligated Balance, Brought Forward decrease of $1.0 billion was the result of
a decrease of $1.4 billion for FMS offset by an increase of $385.2 million in the Army General Fund Iraqi Reconstruction
Fund. The Obligated Balance, Brought Forward increase of $29.2 billion included an increase from FMS of $25.9 billion
and an increase of $3.5 billion in the Iraqi Reconstruction Fund. The amounts reported as Comparative Year Effect were
restatements of prior years.
Correction of Error
Following the current reporting period, the Department discovered an error in the computation of the Distributed Offsetting
Receipts reported on the Statement of Budgetary Resources. The Department previously included all of the annual
contribution from Treasury for the Military Retirement Fund and should have excluded the concurrent receipts of the
normal cost contribution as Distributed Offsetting Receipts. The Department had also included the Military Departments’
contributions, the non-DoD employing agency contributions, and the interest receivable for the DoD Medicare-Eligible
Retiree Health Care Fund as Distributed Offsetting Receipts. The Department confirmed with OMB and the U.S. Treasury
that only specific receipt accounts, and no accrued interest, should be reported as Distributed Offsetting Receipts. Due to
the size of the misstatement in FY 2006, the Department restated lines on the Statement of Budgetary Resources and Note 21,
“Reconciliation of Net Cost of Operations to Budget,” formerly the Statement of Financing. The restatement has no impact
on the Department’s overall net position. The Department restated the prior year comparative column decreasing Distributed
Offsetting Receipts by $13.8 billion in the Statement of Budgetary Resources. The Reconciliation of Net Cost of Operations
to Budget was adjusted by like amount in the Distributed Offsetting Receipts and Trust Fund Exchange Revenue lines,
resulting in no change in Net Cost of Operations.
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