Performance And Accountability Report - Fiscal Year 2013 - Federal Aviation Administration - U.s. Department Of Transportation Page 33
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150 Composition of Liabilities
Liabilities Comparison
as of September 30, 2013
(Dollars in Thousands)
Employee related
9%
22%
and other liabilities
Federal employee
benefits
18%
Environmental
liabilities
34%
17%
Grants payable
Accounts payable
Accounts payable
Employee related and other
n
n
0
$ THOUSANDS
400,000
800,000
1,200,000
1,600,000
liabilities
Grants payable
n
2013
2012
n
n
Federal employee benefits
n
Environmental liabilities
n
Assets
assets, and capitalized real and personal property. There was
a decrease of $21.8 million in the total composition of PP&E as
Total assets were $31.4 billion as of September 30, 2013. The
purchases of equipment and additions to construction-in-progress
FAA’s assets are the resources available to pay liabilities or
through the normal course of business were less than the offsets
satisfy future service needs. The Composition of Assets chart
by retirements, disposals, and depreciation.
depicts major categories of assets as a percentage of total
assets.
Liabilities
The Assets Comparison chart presents comparisons of major
As of September 30, 2013, FAA reported liabilities of $4.4
asset balances as of September 30, 2012 and 2013.
billion. Liabilities are probable and measurable future outflows
of resources arising from past transactions or events. The
Fund balance with Treasury (FBWT) represents 10 percent of the
Composition of Liabilities chart depicts the FAA’s major
FAA’s current period assets and consists of funding available
categories of liabilities as a percentage of total liabilities.
through the Department of Treasury accounts from which the
FAA is authorized to make expenditures to pay liabilities. It also
The Liabilities Comparison chart presents comparisons of major
includes passenger ticket and other excise taxes deposited to the
liability balances between September 30, 2012 and September
Airport and Airway Trust Fund (AATF), but not yet invested. Fund
30, 2013. Below is a discussion of the major categories.
balance with Treasury increased from $3.1 billion to $3.3 billion.
At $1.5 billion, Employee related and other liabilities represent
At $13.8 billion, Investments represent 44 percent of the FAA’s
34 percent of FAA’s total liabilities. These liabilities decreased by
current period assets, and are derived from passenger ticket and
$64.1 million as of September 30, 2013 and are comprised mainly
other excise taxes deposited to the AATF and premiums collected
of $175.2 million in advances received, $201.3 million in Federal
from the Aviation Insurance Program. These amounts are used to
Employee’s Compensation Act payable, $452.2 million in accrued
finance the FAA’s operations to the extent authorized by Congress
payroll and benefits, $526.6 million in accrued leave and benefits,
and to pay potential insurance claims. Investments increased by
$2.7 million in legal claims liability and $78.0 million in capital
$1.5 billion due to an increase in excise tax revenues of $317.2
lease liability.
million, coupled with yearly War Risk premiums of $164.2 million,
and earned interest of $248.0 million. Additionally, investments
At $973.0 million, Federal employee benefits represent 22
are not liquidated until needed to fund expenses which accounts
percent of the FAA’s current year liabilities, and consist of the
for the remaining increase on a comparative basis.
FAA’s expected liability for death, disability, and medical costs
for approved workers compensation cases, plus a component
At $13.4 billion, General property, plant, and equipment, net
for incurred but not reported claims. The Department of Labor
(PP&E) represents 43 percent of the FAA’s assets as of September
(DOL) calculates the liability for the DOT, and the DOT attributes
30, 2013, and primarily comprises construction-in-progress
a proportionate amount to the FAA based upon actual workers’
related to the development of the national airspace system
compensation payments to the FAA employees over the
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Federal Aviation Administration
Fiscal Year 2013
Performance and Accountability Report
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