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Office of Budget

Fiscal Year 2005 Performance and Accountability Report
Published November 15, 2005

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13. Other Liabilities

Other liabilities are liabilities not reported elsewhere. They consist of Funded and Unfunded Liabilities. Funded liabilities are generally considered to be current liabilities. Unfunded liabilities are generally considered to be non-current liabilities.

Other Intragovernmental Funded Liabilities as of September 30,
2005 2004
* The Custodial Liabilities Accounts include subsidy reestimates for loans made after September 30, 1991, which are subject to the provisions of the Credit Reform Act of 1990. The liability provision for future losses on credit reform guaranteed loans is comprised of a funded subsidy for each loan guaranteed at the rate equal to the amount of the present value of estimated loss to the government for the cohorts of loans. The subsidy amount for each cohort is reestimated annually to ensure amounts reflect the actual losses on guaranteed loans. Based on the reestimated amounts, additional subsidy funds are provided for or excess funds are returned.
Deposit and Clearing Account Liabilities $ 8 $ (61)
Accrued Expenses - Federal 123 149
Deferred Revenue 166 283
Resources Payable to Treasury 299 350
Custodial Liabilities* 1,631 1,022
General Fund Receipts Liability 32 29
Accrued VA Contributions for Employee Benefits 3 3
Total Other Intragovernmental Funded Liabilities $ 2,262 $ 1,775
Other Intragovernmental Unfunded Liabilities as of September 30,
2005 2004
Accrued FECA Liability $ 357 $ 359
Total Other Intragovernmental Unfunded Liabilities $ 357 $ 359
Other Public Funded Liabilities as of September 30,
2005 2004
* Interest earned on dividends left on deposit is paid annually to insurance policyholders on the policy anniversary dates.
Accrued Funded Annual Leave $ 11 $ 11
Accrued Expenses 2,466 2,482
Accrued Salaries and Benefits 548 583
Contract Holdbacks 11 12
Deferred Revenue 1 1
Unredeemed Coupons 1 1
Deposit and Clearing Account Liability 47 46
Unearned Premiums 102 111
Insurance Dividends Left on Deposit and Related Interest Payable* 1,725 1,677
Dividend Payable to Policyholders 203 225
Amounts due to non-federal trusts - 1
Capital Lease Liability 31 30
Total Other Public Funded Liabilities $ 5,146 $ 5,180
Other Public Unfunded Liabilities as of September 30,
2005 2004

* Annual leave is accrued when earned and is adjusted at the end of the fiscal year to reflect current pay rates of cumulative leave earned but not taken. Sick and other types of leave are expensed as taken.

** The Judgment Fund liability amount represents the estimate for future payments on legal cases that will be paid by the Treasury Judgment Fund on behalf of VA.

Annual Leave* $ 1,216 $ 1,172
Accounts Payable from Cancelled Appropriation 6 6
Amounts due to non-federal trust 187 188
Judgment Fund-Unfunded** 522 501
Total Other Public Unfunded Liabilities $ 1,931 $ 1,867