Performance And Accountability Report - Fiscal Year 2013 - Federal Aviation Administration - U.s. Department Of Transportation Page 97
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150 NOTE 3. Investments
As of September 30, 2013 and 2012, the FAA’s investment balances were as follows:
2013
Amortized
Market Value
Intragovernmental Securities
Cost
(Premium) Discount
Investments (Net)
Disclosure
Non-marketable par value
$ 11,807,771
$
—
$ 11,807,771
$
11,807,771
Non-marketable market-based
1,936,922
20,697
1,957,619
1,962,650
Subtotal
13,744,693
20,697
13,765,390
13,770,421
Accrued interest
56,123
56,123
Total Intragovernmental Securities
$ 13,800,816
$
20,697
$ 13,821,513
$ $13,770,421
2012
Amortized
Market Value
Intragovernmental Securities
Cost
(Premium) Discount
Investments (Net)
Disclosure
Non-marketable par value
$ 10,424,961
$
—
$ 10,424,961
$
10,424,961
Non-marketable market-based
1,818,209
28,377
1,846,586
1,860,331
Subtotal
12,243,170
28,377
12,271,547
12,285,292
Accrued interest
59,917
59,917
Total Intragovernmental Securities
$ 12,303,087
$
28,377
$ 12,331,464
$
12,285,292
The Secretary of the Treasury invests AATF funds on behalf
Nonmarketable, market-based Treasury securities are debt
of the FAA. The FAA investments are considered investment
securities that the Treasury issues to federal entities without
authority and are available to offset the cost of operations to the
statutorily fixed interest rates. Although the securities are
extent authorized by Congress. As of September 30, 2013 and
not marketable, their terms (prices and interest rates) mirror
2012, $11.8 billion and $10.4 billion were invested respectively
the terms of marketable Treasury securities. The FAA invests
in U.S. Treasury Certificates of Indebtedness. Nonmarketable
Aviation Insurance Fund collections in nonmarketable market-
par value Treasury Certificates of Indebtedness are special
based securities and amortizes premiums and discounts over the
series debt securities issued by the Bureau of Public Debt to
life of the security using the interest method. As of September
federal accounts, and are purchased and redeemed at par
30, 2013, these nonmarketable, market-based securities have
(face value) exclusively through the Federal Investment Branch
maturity dates ranging from October 2013 to November 2015
of the U.S. Treasury’s Bureau of Public Debt. The securities
and have an average rate of return of approximately 1.5 percent.
are held to maturity and redeemed at face value on demand;
As of September 30, 2012, these nonmarketable, market-based
thus, investing entities recover the full amount invested plus
securities had maturity dates ranging from October 2012 to
interest. Investments as of September 30, 2013, mature on
August 2015 and had an average rate of return of approximately
various dates through June 30, 2014, and investments as of
2.1 percent.
September 30, 2012, matured on various dates through June 30,
The U.S. Treasury does not set aside assets to pay the future
2013. The annual rate of return on Certificates of Indebtedness
expenditures of the AATF and the Aviation Insurance Fund.
is established in the month of issuance. The average rate of
Instead, the cash collected from the public for the AATF and the
return for certificates issued during FY 2013 and FY 2012 was 2.0
Aviation Insurance Fund is deposited in the U.S. Treasury, and
percent and 2.2 percent, respectively.
used for general government purposes. Treasury securities are
issued to the FAA as evidence of the collections by the AATF and
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Federal Aviation Administration
Fiscal Year 2013
Performance and Accountability Report
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