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Office of Budget

Fiscal Year 2004 Performance and Accountability Report
Published November 15, 2004

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Consolidated Statements of Financing

DEPARTMENT OF VETERANS AFFAIRS CONSOLIDATED STATEMENTS OF FINANCING (NOTE 20) FOR THE YEARS ENDED SEPTEMBER 30, (DOLLARS IN MILLIONS)
2004 2003
The accompanying Notes are an integral part of these financial statements.
Resources Used to Finance Activities
Obligations Incurred $ 74,421 $ 69,349
Less Spending Authority from Offsetting Collections and Adjustments (7,899) (9,572)
Obligations Net of Offsetting Collections and Adjustments 66,522 59,777
Less Offsetting Receipts (2,668) (2,174)
Net Obligations 63,854 57,603
Donations of Property 14 15
Transfers-out (1,227) (1,925)
Imputed Financing 1,252 1,082
Other Financing Sources 3 (42)
Total Resources Used to Finance Activities 63,896 56,733
Resources That Do Not Fund Net Cost of Operations
Change in Amount of Goods, Services and Benefits Ordered But Not Yet Provided (452) (357)
Resources that Finance the Acquisition of Assets (5,398) (4,428)
Resources that Fund Expenses Recognized in Prior Periods (441) (1,105)
Budgetary Offsetting Collections and Receipts That Do Not Affect Net Cost of Operations 3,065 4,812
Other (3) 2
Total Resources That Do Not Fund Net Costs of Operations (3,229) (1,076)
Total Resources Used to Finance the Net Cost of Operations 60,667 55,657
Costs That Do Not Require Resources in the Current Period
Increase in Annual Leave Liability 75 55
Increase in Environmental and Disposal Liability (37) 104
Reestimates of Credit Subsidy Expense 2,148 (565)
Increase in Exchange Revenue Receivable from the Public 952 157
Increase in Veterans Benefits Actuarial Liability (30,000) 105,600
Depreciation and Amortization 465 1,345
Bad Debts Related to Uncollectible Non-Credit Reform Receivables 328 194
Loss on Disposition of Assets 99 109
Other (1,430) (182)
Total Costs That Do Not Require Resources in the Current Period (27,400) 106,817
Net Cost of Operations $ 33,267 $ 162,474