2010   Financial Report of the United States Government

Notes to the Financial Statements

Note 24. Earmarked Funds

Earmarked Funds as of September 30, 2010 1
(In billions of dollars)
Federal Old-Age and Survivors Insurance Trust Fund
Military Retirement Fund
Civil Service Retirement and Disability Fund
Medicare-Eligible Retiree Health Care Fund (MERHCF)
Federal Hospital Insurance Trust Fund (Medicare Part A)
Civil Service Health Benefits Program Trust Funds
Assets:
Cash and other
monetary assets
- - - - - -
Fund balance with
Treasury
(0.4) - - 0.2 - 1.1
Investments in U.S. Treasury securities, net of unamortized premiums/discounts 2,399.1 318.6 780.4 164.4 279.5 58.4
Other Federal assets 26.7 3.1 10.1 1.8 28.5 1.3
Non-Federal assets 1.9 - 0.4 0.6 1.0 1.0
  Total assets 2,427.3 321.7 790.9 167.0 309.0 61.8
Liabilities:
Liabilities due and payable to beneficiaries 51.7 4.2 5.5 0.7 21.8 4.0
Other Federal liabilities 4.9 0.1 0.1 0.1 25.2 0.4
Other non-Federal liabilities - 1,258.4 1,550.9 573.1 0.2 341.7
  Total liabilities 56.6 1,262.7 1,556.5 573.9 47.2 346.1
  Total net position 2,370.7 (941.0) (765.6) (406.9) 261.8 (284.3)
    Total liabilities
    and net position
2,427.3 321.7 790.9 167.0 309.0 61.8
Change in net position:
Beginning net position 2,270.2 (898.8) (696.0) (361.4) 292.4 (290.8)
Investment revenue 108.4 10.4 36.4 5.3 14.2 1.8
Individual income taxes 552.8 - - - 183.6 -
Unemployment and excise taxes - - - - - -
Other taxes and receipts - - - - 0.6 -
Miscellaneous earned revenues - - - - - -
Other changes in fund balance (e.g., appropriations, transfers) 14.2 83.5 33.2 21.1 14.8 9.6
Non-program expenses - - - - - -
Program net cost 574.9 136.1 139.2 71.9 243.8 4.9
  Ending net position 2,370.7 (941.0) (765.6) (406.9) 261.8 (284.3)
1 By law, certain expenses (costs), revenues, and other financing sources related to the administration of the above funds are not charged to the funds and are therefore financed and/or credited to other sources.


Earmarked Funds as of September 30, 2010 1
(In billions of dollars)
Federal Disability Insurance Trust Fund
Federal Supplementary Medical Insurance Trust Fund (Medicare Parts B and D)
Exchange Stabilization Fund
All Other Earmarked Funds
Intra-Earmarked Fund Eliminations
Total Earmarked Funds
Assets:
Cash and other
monetary assets
- - 70.9 0.2 - 71.1
Fund balance with
Treasury
(0.4) 2.0 - 104.2 - 106.7
Investments in U.S. Treasury securities, net of unamortized premiums/discounts 187.2 71.0 20.4 198.5 - 4,477.5
Other Federal assets 2.2 25.6 0.1 23.7 (54.9) 68.2
Non-Federal assets 3.4 4.9 12.5 82.7 - 108.4
  Total assets 192.4 103.5 103.9 409.3 (54.9) 4,831.9
Liabilities:
Liabilities due and payable to beneficiaries 24.3 23.3 - 7.9 - 143.4
Other Federal liabilities 1.4 26.4 - 86.6 (54.9) 90.3
Other non-Federal liabilities - 0.3 60.1 166.6 - 3,951.3
  Total liabilities 25.7 50.0 60.1 261.1 (54.9) 4,185.0
  Total net position 166.7 53.5 43.8 148.2 - 646.9
    Total liabilities
    and net position
192.4 103.5 103.9 409.3 (54.9) 4,831.9
Change in net position:
Beginning net position 186.6 44.0 43.8 162.7 - 752.7
Investment revenue 9.6 3.1 - 5.8 - 195.0
Individual income taxes 93.9 - - 0.0 - 830.3
Unemployment and excise taxes - - - 94.2 - 94.2
Other taxes and receipts - - - 30.5 (0.5) 30.6
Miscellaneous earned revenues - - - 4.5 - 4.5
Other changes in fund balance (e.g., appropriations, transfers) (1.6) 209.7 0.1 97.5 - 482.1
Non-program expenses - - - 1.5 - 1.5
Program net cost 121.8 203.3 0.1 245.5 (0.5) 1,741.0
  Ending net position 166.7 53.5 43.8 148.2 - 646.9
1 By law, certain expenses (costs), revenues, and other financing sources related to the administration of the above funds are not charged to the funds and are therefore financed and/or credited to other sources.


Earmarked Funds as of September 30, 2009 1
(In billions of dollars)
Federal Old-Age and Survivors Insurance Trust Fund
Military Retirement Fund
Civil Service Retirement and Disability Fund
Medicare-Eligible Retiree Health Care Fund (MERHCF)
Federal Hospital Insurance Trust Fund (Medicare Part A)
Civil Service Health Benefits Program Trust Funds
Assets:
Cash and other
monetary assets
- - - - 0.1 -
Fund balance with
Treasury
(0.2) - - - 0.4 1.0
Investments in U.S. Treasury securities, net of unamortized premiums/discounts 2,296.3 275.5 754.2 146.8 309.7 50.5
Other Federal assets 26.8 2.9 10.2 1.6 28.5 1.2
Non-Federal assets 2.3 - 0.4 0.4 0.7 0.9
  Total assets 2,325.2 278.4 764.8 148.8 339.4 53.6
Liabilities:
Liabilities due and payable to beneficiaries 50.3 3.7 5.3 0.7 22.4 3.8
Other Federal liabilities 4.7 - 0.1 0.1 24.4 0.3
Other non-Federal liabilities - 1,173.5 1,455.4 509.4 0.2 340.3
  Total liabilities 55.0 1,177.2 1,460.8 510.2 47.0 344.4
  Total net position 2,270.2 (898.8) (696.0) (361.4) 292.4 (290.8)
    Total liabilities
    and net position
2,325.2 278.4 764.8 148.8 339.4 53.6
Change in net position:
Beginning net position 2,128.7 (901.1) (653.6) (366.7) 302.9 (285.5)
Prior period adjustment - - - - - -
Beginning net position, adjusted 2,128.7 (901.1) (653.6) (366.7) 302.9 (285.5)
Investment revenue 107.7 2.8 37.1 1.1 15.6 1.9
Individual income taxes 571.2 - - - 194.1 -
Unemployment and excise taxes - - - - - -
Other taxes and receipts - - - - 0.5 -
Miscellaneous earned revenues - - - - - -
Other changes in fund balance (e.g., appropriations, transfers) 12.1 72.5 31.4 21.4 14.5 9.1
Non-program expenses - - - - - -
Program net cost 549.5 73.0 110.9 17.2 235.2 16.3
  Ending net position 2,270.2 (898.8) (696.0) (361.4) 292.4 (290.8)
1 By law, certain expenses (costs), revenues, and other financing sources related to the administration of the above funds are not charged to the funds and are therefore financed and/or credited to other sources.


Earmarked Funds as of September 30, 2009 1
(In billions of dollars)
Federal Disability Insurance Trust Fund
Federal Supplementary Medical Insurance Trust Fund (Medicare Parts B and D)
Exchange Stabilization Fund
All Other Earmarked Funds
Intra-Earmarked Fund Eliminations
Total Earmarked Funds
(Restated)
Assets:
Cash and other
monetary assets
- 0.3 71.7 0.1 - 72.2
Fund balance with
Treasury
(0.3) 2.9 - 103.3 - 107.1
Investments in U.S. Treasury securities, net of unamortized premiums/discounts 207.9 61.8 19.8 185.9 - 4,308.4
Other Federal assets 2.6 27.9 - 19.6 (57.0) 64.3
Non-Federal assets 3.2 4.3 13.5 81.4 - 107.1
  Total assets 213.4 97.2 105.0 390.3 (57.0) 4,659.1
Liabilities:
Liabilities due and payable to beneficiaries 25.5 24.4 - 6.4 - 142.5
Other Federal liabilities 1.3 28.5 - 57.3 (57.0) 59.7
Other non-Federal liabilities - 0.3 61.2 163.9 - 3,704.2
  Total liabilities 26.8 53.2 61.2 227.6 (57.0) 3,906.4
  Total net position 186.6 44.0 43.8 162.7 - 752.7
    Total liabilities
    and net position
213.4 97.2 105.0 390.3 (57.0) 4,659.1
Change in net position:
Beginning net position 196.7 52.0 39.8 191.4 - 704.6
Prior period adjustment - - - (0.3) - (0.3)
Beginning net position, adjusted 196.7 52.0 39.8 191.1 - 704.3
Investment revenue 10.6 3.0 - 4.8 - 184.6
Individual income taxes 97.0 - - (0.0) - 862.3
Unemployment and excise taxes - - - 87.0 - 87.0
Other taxes and receipts - - 0.2 31.0 (0.3) 31.4
Miscellaneous earned revenues - - - 4.4 - 4.4
Other changes in fund balance (e.g., appropriations, transfers) (1.3) 183.8 - 63.3 - 406.8
Non-program expenses - - - 2.8 - 2.8
Program net cost 116.4 194.8 (3.8) 216.1 (0.3) 1,525.3
  Ending net position 186.6 44.0 43.8 162.7 - 752.7
1 By law, certain expenses (costs), revenues, and other financing sources related to the administration of the above funds are not charged to the funds and are therefore financed and/or credited to other sources.

Earmarked funds are financed by specifically identified revenues, often supplemented by other financing sources, which remain available over time. These specifically identified revenues and other financing sources are required by statute to be used for designated activities, benefits, or purposes and must be accounted for separately from the Government’s general revenues. Earmarked funds generally include trust funds, public enterprise revolving funds (not including credit reform financing funds), and special funds.

In the Federal budget, the term “trust fund” means only that the law requires a particular fund be accounted for separately, used only for a specified purpose, and designated as a trust fund. A change in law may change the future receipts and the terms under which the fund’s resources are spent. In the private sector, trust fund refers to funds of one party held and managed by a second party (the trustee) in a fiduciary capacity. The activity of earmarked funds differs from fiduciary activities primarily in that earmarked fund assets are Government-owned.

Public enterprise revolving funds include expenditure accounts authorized by law to be credited with offsetting collections, mostly from the public, that are generated by and earmarked to finance a continuing cycle of business-type operations. Some of the financing for these funds may be from appropriations.

Special funds are Federal funds earmarked by law for a specific purpose. Special funds include the special fund receipt account and the special fund expenditure account.

The tables above depict major earmarked funds chosen based on their significant financial activity and importance to taxpayers. All other Government earmarked funds not shown separately are aggregated as “all other.”

Total assets represent the unexpended balance from all sources of receipts and amounts due to the earmarked funds, regardless of source, including related Governmental transactions. These are transactions between two different entities within the Government (for example, monies received by one entity of the Government from another entity of the Government).

The intragovernmental assets are comprised of fund balances with Treasury, investments in Treasury securities—including unamortized amounts, and other assets that include the related accrued interest receivable on Federal investments. These amounts were eliminated in preparing the principal financial statements.

The non-Federal assets represent only the activity with individuals and organizations outside of the Government.

Most of the earmarked fund assets are invested in intragovernmental debt holdings. The Government does not set aside assets to pay future benefits or other expenditures associated with earmarked funds. The cash receipts collected from the public for an earmarked fund are deposited in the U.S. Treasury, which uses the cash for general Government purposes. Treasury securities are issued to Federal agencies as evidence of its receipts. Treasury securities are an asset to the Federal agencies and a liability to the U.S. Treasury and, therefore, they do not represent an asset or a liability in the Financial Report of the U.S. Government. These securities require redemption if a fund’s disbursements exceeds its receipts. Redeeming these securities will increase the Government’s financing needs and require more borrowing from the public (or less repayment of debt), or will result in higher taxes than otherwise would have been needed, or less spending on other programs than otherwise would have occurred, or some combination thereof. See Note 14—Federal Debt Securities Held by the Public and Accrued Interest for further information related to the investments in Federal debt securities.

Depicted below is a description of the major earmarked funds shown in the above tables, which also includes the names of the Government agencies that administer each particular fund. For detailed information regarding these earmarked funds, please refer to the financial statements of the corresponding administering agencies. For information on the benefits due and payable liability associated with certain earmarked funds, see Note 17—Benefits Due and Payable.

Federal Old-Age and Survivors Insurance Trust Fund

The Federal Old-Age and Survivors Insurance Trust Fund, administered by the SSA, provides a basic annuity to workers to protect them from loss of income at retirement and provide a guaranteed income to survivors in the event of the death of a family’s primary wage earner.

Payroll and self-employment taxes primarily fund the Federal Old-Age and Survivors Insurance Trust Fund. Interest earnings on Treasury securities, Federal agencies’ payments for the Social Security benefits earned by military and Federal civilian employees, and Treasury payments for a portion of income taxes collected on Social Security benefits provide the fund with additional income. The law establishing the Federal Old-Age and Survivors Insurance Trust Fund and authorizing the depositing of amounts to the credit of the trust fund is set forth in 42 U.S.C. § 401.

Military Retirement Fund

The Military Retirement Fund, administered by DOD, provides retirement benefits for Army, Navy, Marine Corps, and Air Force personnel and their survivors. The fund is financed by DOD contributions, appropriations, and interest earnings on Treasury securities. The laws establishing the Military Retirement Fund and authorizing the depositing of amounts to the credit of the trust fund are set forth in 10 U.S.C. § 1461-1467.

Civil Service Retirement and Disability Fund

The CSRDF covers two Federal civilian retirement systems: the CSRS—for employees hired before 1984, and the FERS—for employees hired after 1983. OPM administers the CSRS and the FERS systems. The laws establishing the CSRDF and authorizing the depositing of amounts to the credit of the trust fund are set forth in 5 U.S.C. § 8331-8348. Funding sources include:

Medicare-Eligible Retiree Health Care Fund

The Department of Defense Medicare-Eligible Retiree Health Care Fund, administered by the Secretary of the Treasury and established by 10 U.S.C. § 1111, finances and pays the liabilities under the DOD retiree health care programs for military retirees, their dependents and survivors who are Medicare-Eligible. Such beneficiaries include qualifying members, former members, and dependents of the Uniformed Services. The assets of the fund are comprised of any amounts appropriated to the trust fund, payments to the fund authorized by 10 U.S.C. § 1116, and interest earned on investments authorized by 10 U.S.C. § 1117.

Federal Hospital Insurance Trust Fund
(Medicare Part A)

The Federal Hospital Insurance Trust Fund, administered by HHS, finances the Hospital Insurance Program (Medicare Part A). This program funds the cost of inpatient hospital and related care for individuals age 65 or older who meet certain insured status requirements, and eligible disabled people.

The Federal Hospital Insurance Trust Fund is financed primarily by payroll taxes, including those paid by Federal agencies. It also receives income from interest earnings on Treasury securities and a portion of income taxes collected on Social Security benefits. The law establishing the Federal Hospital Insurance Trust Fund and authorizing the depositing of amounts to the credit of the trust fund is set forth in 42 U.S.C. § 1395i.

Civil Service Health Benefits Program Trust Funds

The Civil Service Health Benefits Program (HBP) provides health benefits to Federal employees and dependents as well as to Federal retirees, including USPS retirees, and survivor annuitants. The program is operated through two revolving trust funds. The HBP administers a wide variety of health and wellness plans including Fee-For-Service and HMO plans. Retired employees can choose to continue coverage upon separation from the Government. OPM administers the HBP.

The law establishing the first HBP trust fund, the FEHB Fund, and authorizing the depositing of amounts to the credit of the trust fund is set forth in 5 U.S.C. § 8909. The FEHB fund is funded on a “pay-as-you-go” basis and funding sources include:

The Postal Accountability and Enhancement (Postal Act of 2006) (P.L. No 109-435, Title VIII), made significant changes in the funding of retiree health benefits for employees of the USPS, including the requirement for the USPS to make scheduled payments to the second HBP trust fund, the newly-created Postal Service Retiree Health Benefits (PSRHB) Fund.

The laws establishing the PSRHB Fund and authorizing the depositing of amounts to the credit of the trust fund are set forth in 5 U.S.C. § 8909a. The Postal Civil Service Retirement and Health Benefits Funding Amendments of 2006 requires the USPS to make scheduled payment contributions to the PSRHB Fund ranging from $5.4 billion to $5.8 billion per year from fiscal year 2007 through fiscal year 2016. Thereafter, the USPS will make annual payments in the amount of the normal cost payment. The PSRHB Fund is also funded by interest earnings on Treasury securities. However, Public Law 111-68 changed the USPS contribution for fiscal year 2009 to $1.4 billion rather than $5.4 billion. For fiscal year 2010, the USPS contribution is $5.5 billion.

Federal Disability Insurance Trust Fund

The Federal Disability Insurance Trust Fund provides financial assistance and protection against the loss of earnings due to a wage earner’s disability. The SSA administers this trust fund.

Like the Federal Old-Age and Survivors Insurance Trust Fund, payroll taxes primarily fund the Federal Disability Insurance Trust Fund. The fund also receives income from interest earnings on Treasury securities, Federal agencies’ payments for the Social Security benefits earned by military and Federal civilian employees, and a portion of income taxes collected on Social Security benefits. The law establishing the Federal Disability Insurance Trust Fund and authorizing the depositing of amounts to the credit of the trust fund is set forth in 42 U.S.C. § 401.

Federal Supplementary Medical Insurance Trust Fund
(Medicare Parts B and D)

The Federal Supplementary Medical Insurance Trust Fund, administered by HHS, finances the Supplementary Medical Insurance Program (Medicare Part B) and the Medicare Prescription Drug Benefit Program (Medicare Part D). These programs provide supplementary medical insurance for enrolled eligible participants to cover physician and outpatient services not covered by Medicare Part A and to obtain qualified prescription drug coverage, respectively. Medicare Part B financing is not based on payroll taxes; it is based on monthly premiums, income from the General Fund of the Treasury, and interest earnings on Treasury securities. The law establishing the Federal Supplementary Medical Insurance Trust Fund and authorizing the depositing of amounts to the credit of the trust fund is set forth in 42 U.S.C. § 1395t.

Medicare Part D was created by the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (P.L. No. 108-173). Medicare Part D financing is similar to Part B; it is based on monthly premiums and income from the General Fund of the Treasury, not on payroll taxes. It also receives transfers from States. The law creating the Medicare prescription drug account within the Federal Supplementary Medical Insurance Trust Fund and authorizing the depositing of amounts to the credit of the trust fund is set forth in 42 U.S.C. § 1395w-116.

Exchange Stabilization Fund (ESF)

The Exchange Stabilization Fund uses funds to purchase or sell foreign currencies, hold U.S. foreign exchange and SDR assets, and to provide financing to foreign governments. SDR assets in the International Monetary Fund, investments in Treasury securities, and investments in Foreign Currency Denominated assets are the sources of revenues or financing sources to the ESF. The Gold Reserve Act of 1934, the Bretton Woods Agreement Act of 1945, P.L. 95-147 and P.L. 94-564 established and authorized the use of the fund. The law establishing the ESF account and authorizing the depositing of amounts to the credit of the trust fund are set forth in 31 U.S.C. § 5302.

All Other Earmarked Funds

The Government is responsible for the management of numerous earmarked funds that serve a wide variety of purposes. The earmarked funds presented on an individual basis in the preceding `table represent the majority of the Government’s net position attributable to earmarked funds. All other earmarked activity is aggregated in accordance with SFFAS No. 27. For the years ending September 30, 2010, and 2009, there were approximately 621 and 625 earmarked funds, respectively. The earmarked funds within the “all other” aggregate, along with the agencies that administer them, include the following:

Unemployment Trust Fund (UTF) and Excise Taxes

In addition to the previous listed earmarked funds within the “all other” aggregate, there are 11 other earmarked funds, also within the “all other” aggregate that represent all the earmarked unemployment and excise tax revenues shown on the consolidated Statement of Operations and Changes in Net Position. The Unemployment Trust Fund represents all the earmarked unemployment tax revenues and the remaining 10 other earmarked funds represent all the earmarked excise tax revenues.

The Unemployment Trust Fund provides temporary assistance to workers who lose their jobs. The program is administered through a unique system of Federal and State partnerships, established in Federal law, but executed through conforming State laws by State officials. DOL administers the Federal operations of the program.

Employer taxes provide the primary funding source for the UTF and constitute all the earmarked unemployment tax revenues as shown on the consolidated Statement of Operations and Changes in Net Position. For the years ending September 30, 2010, and 2009, UTF unemployment tax revenues were $45.2 billion and $38.1 billion, respectively. However, interest earnings on Treasury securities also provide income to the fund. Appropriations have supplemented the fund’s income during periods of high and extended unemployment. The law establishing the UTF and authorizing the depositing of amounts to the credit of the trust fund is set forth in 42 U.S.C. § 1104.

In addition, there are 10 other earmarked funds within the “all other” aggregate that represent all of the earmarked excise tax revenue shown on the consolidated Statement of Operations and Changes in Net Position. Two of these earmarked funds, the Highway Trust Fund and the Airport and Airway Trust Fund, represent more than 90 percent of the total earmarked excise tax revenues. Both of these earmarked funds are administered by the DOT and, for more detailed information regarding them, please refer to DOT’s financial statements.

The Highway Trust Fund was established to promote domestic interstate transportation and to move people and goods. The fund provides Federal grants to States for highway construction, certain transit programs, and related transportation purposes. The law establishing the Highway Trust Fund and authorizing the depositing of amounts to the credit of the trust fund is set forth in 26 U.S.C. § 9503. Funding sources include earmarked excise taxes on gasoline and other fuels, certain tires, the initial sale of heavy trucks, and highway use by commercial motor vehicles. For the years ending September 30, 2010, and 2009, Highway Trust Fund excise tax revenues were $35.0 billion and $35.0 billion, respectively. As funds are needed for payments, the Highway Trust Fund corpus investments are liquidated and funds are transferred to the Federal Highway Administration, the Federal Transit Administration, or other DOT entities, for payment of obligations.

The Airport and Airway Trust Fund provides for airport improvement and airport facilities maintenance. It also funds airport equipment, research, and a portion of the Federal Aviation Administration’s administrative operational support. The law establishing the Airport and Airway Trust Fund and authorizing the depositing of amounts to the credit of the trust fund is set forth in 26 U.S.C. § 9502. Funding sources include:

For the years ending September 30, 2010, and 2009, Airport and Airway Trust Fund excise tax revenues were $10.6 billion and $10.6 billion, respectively. These revenue amounts do not reflect any transfers from the Highway Trust Fund to the Airport and Airway Trust Fund for fuel which was used in aviation, but which was taxed at highway rates under P.L. 109-59 Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU).

Miscellaneous Earned Revenues

Miscellaneous earned revenues due to earmarked funds activity primarily relate to royalties retained by various earmarked funds within DOI.

Intra-Earmarked Fund Eliminations

The intra-earmarked fund eliminations represent the activity between earmarked funds that are administered by different Federal agencies and which are eliminated to produce consolidated earmarked revenues and net costs as shown on the Statement of Operations and Changes in Net Position. Significant examples of such intra-earmarked fund activity include the financial interchanges and transactions between the Railroad Retirement Trust Fund, the Social Security Trust Funds, and the Medicare Trust Funds, which are administered by the RRB, SSA and HHS, respectively. The financial interchanges and transactions between RRB’s Railroad Retirement Trust Fund, SSA’s Federal Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund, and HHS’ Federal Hospital Insurance Trust Fund are intended to put the latter three trust funds in the same position they would have been in had railroad employment been covered under the Social Security Act. For further information, see the Railroad Retirement program description within Note 26—Social Insurance.

Restatement

As of September 30, 2009, due to a correction by SSA to address additional clarifying Treasury guidance, other taxes and receipts were decreased and other changes in fund balance were increased by $20.8 billion. This was due to the improper reporting of net appropriations received amounts in fiscal year 2009 in other taxes and receipts, which are intended to reflect non-exchange revenue. However, net appropriations received are other budgetary financing sources and are not non-exchange revenue. This correction relates only to SSA’s all other earmarked funds. This restatement decreases and increases fiscal year 2009 earmarked other taxes and receipts and earmarked intragovernmental transfers, respectively by $20.8 billion on the consolidated Statement of Operations and Changes in Net Position, but has no impact on fiscal year 2009 earmarked ending net position as reported. In addition, this restatement also increases fiscal year 2009 non-earmarked other taxes and receipts and non-earmarked intragovernmental transfer by $20.8 billion each on the consolidated Statement of Operations and Changes in Net Position with no impact on fiscal year 2009 non-earmarked ending net position as reported.


Last Updated:  December 07, 2011