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SMALL BUSINESS ADMINISTRATION For 2003, the Small Business Administration (SBA) budget requests $798 million in new budget authority. SBA’s continuing operations will provide over $16 billion in new loans to small businesses, funding for non-credit programs, and funding for the disaster loan program. SBA has revised its 7(a) loan subsidy model to more accurately reflect the costs of the program. Federal Funds General and special funds: SALARIES AND EXPENSES For necessary expenses, not otherwise provided for, of the Small Business Administration as authorized by Public Law 105–135, including hire of passenger motor vehicles as authorized by 31 U.S.C. 1343 and 1344, and not to exceed $3,500 for official reception and representation expenses, ø$308,476,000¿ $362,106,000: Provided, That the Administrator is authorized to charge fees to cover the cost of publications developed by the Small Business Administration, and certain loan servicing activities: Provided further, That, notwithstanding 31 U.S.C. 3302, revenues received from all such activities shall be credited to this account, to be available for carrying out these purposes without further appropriations: Provided further, That $88,000,000 shall be available to fund grants for performance in fiscal year ø2002¿ 2003 or fiscal year ø2003¿ 2004 as authorized by section 21 of the Small Business Act, as amended. In addition to amounts otherwise available from collections, 5 percent of such collections, not to exceed $3,000,000, for qualified expenses of delinquent non-tax debt collection. (Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2002; additional authorizing legislation required.) Reduction pursuant to P.L. 106–553 (0.22 percent) Transferred from other accounts .............................. 43.00 68.00 Appropriation (total discretionary) ........................ Spending authority from offsetting collections: Offsetting collections (cash) .............................................. 425 348 362 267 297 255 70.00 Total new budget authority (gross) .......................... 692 645 617 72.40 73.10 73.20 73.40 74.40 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Adjustments in expired accounts (net) ......................... Obligated balance, end of year ..................................... 86.90 86.93 Outlays (gross), detail: Outlays from new discretionary authority ..................... Outlays from discretionary balances ............................. 458 129 493 127 458 116 87.00 Total outlays (gross) ................................................. 587 620 574 Offsets: Against gross budget authority and outlays: Offsetting collections (cash) from: Federal sources: 88.00 Payments from business loan program account ............................................................ 88.00 Payments from disaster loan program account 88.00 Federal sources ................................................ 88.40 Non-Federal sources ............................................. ¥129 ¥128 ¥6 ¥5 ¥129 ¥164 ¥1 ¥3 ¥129 ¥121 ¥2 ¥3 88.90 ¥268 ¥297 ¥255 88.96 Program and Financing (in millions of dollars) 2001 actual Identification code 73–0100–0–1–376 2002 est. 2003 est. Obligations by program activity: Government contracting and minority enterprise development ....................................................................... 00.02 Disaster assistance ....................................................... 00.04 Management and administration .................................. 00.05 Executive direction ......................................................... 00.06 General counsel ............................................................. 00.07 Congressional and legislative affairs ........................... 00.08 Hearings and appeals ................................................... 00.09 Communications and publications ................................ 00.11 Advocacy ........................................................................ 00.12 Field operations ............................................................. 00.13 Equal employment opportunity and civil rights compliance ........................................................................... 00.14 Regional and district offices ......................................... 00.15 Chief financial officer .................................................... 00.16 Capital Access ............................................................... 00.17 Entrepreneurial development ......................................... 00.18 Small disadvantaged businesses .................................. 00.19 Veteran’s Business Development ................................... 00.20 Administrative expenses ................................................ 40 117 134 4 8 1 1 2 5 1 30 155 116 3 8 1 1 2 6 1 32 108 115 4 8 1 1 3 7 1 2 136 8 61 116 2 5 10 2 141 8 81 117 2 1 10 2 150 9 49 115 2 1 9 10.00 Total new obligations ................................................ 653 685 617 21.40 22.00 22.21 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Unobligated balance transferred to other accounts 5 41 1 692 645 617 ¥1 ................... ................... 23.90 23.95 23.98 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance expiring or withdrawn ................. Unobligated balance carried forward, end of year ....... 696 686 618 ¥653 ¥685 ¥617 ¥2 ................... ................... 41 1 1 New budget authority (gross), detail: Discretionary: 40.00 Appropriation[P.L. 106–553 & P.L. 107–20] ............ 40.35 Appropriation rescinded[P.L. 107–20] ...................... 451 348 362 ¥30 ................... ................... 00.01 ¥1 ................... ................... 5 ................... ................... 40.77 42.00 89.00 90.00 Total, offsetting collections (cash) .................. Against gross budget authority only: Portion of offsetting collections (cash) credited to expired accounts ................................................... Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 250 311 376 653 685 617 ¥587 ¥620 ¥574 ¥5 ................... ................... 311 376 419 1 ................... ................... 425 319 348 323 362 319 Budget Authority and Outlays Excluding Full Funding for Federal Retiree Costs (in millions of dollars) 2001 actual 89.00 90.00 Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 415 309 2002 est. 2003 est. 338 313 353 310 The appropriation for this account is necessary to cover the administrative expenses for headquarters and non-credit programs. Object Classification (in millions of dollars) 2001 actual Identification code 73–0100–0–1–376 11.1 11.3 11.5 11.9 12.1 21.0 22.0 23.1 23.3 24.0 25.2 26.0 31.0 41.0 92.0 92.0 Personnel compensation: Full-time permanent .................................................. Other than full-time permanent ............................... Other personnel compensation .................................. 174 8 4 2002 est. 2003 est. 181 7 3 Total personnel compensation .............................. 186 191 201 Civilian personnel benefits ............................................ 52 56 59 Travel and transportation of persons ............................ 9 4 5 Transportation of things ................................................ ................... ................... 3 Rental payments to GSA ................................................ 29 31 32 Communications, utilities, and miscellaneous charges 6 5 4 Printing and reproduction .............................................. 1 1 1 Other services ................................................................ 51 36 66 Supplies and materials ................................................. 1 ................... ................... Equipment ...................................................................... 6 2 3 Grants, subsidies, and contributions ............................ 193 202 133 Undistributed: Undistributed (disaster loan making) ....................... 88 125 78 Undistributed (disaster loan servicing) .................... 29 30 30 1053 VerDate 11-MAY-2000 14:59 Jan 23, 2002 Jkt 189685 PO 00000 Frm 00001 Fmt 3616 190 8 3 Sfmt 3643 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA 1054 THE BUDGET FOR FISCAL YEAR 2003 Federal Funds—Continued General and special funds—Continued SALARIES Budget Authority and Outlays Excluding Full Funding for Federal Retiree Costs (in millions of dollars) EXPENSES—Continued AND 2001 actual Object Classification (in millions of dollars)—Continued 2001 actual Identification code 73–0100–0–1–376 2002 est. 2003 est. 89.00 90.00 92.0 Undistributed (SDB) .................................................. 2 2 Total new obligations ................................................ 653 685 617 12 12 2003 est. 11 11 14 14 2 99.9 Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 2002 est. Personnel Summary 2001 actual Identification code 73–0100–0–1–376 1001 Total compensable workyears: Full-time equivalent employment ............................................................... 2002 est. 3,948 2003 est. 4,451 4,352 The budget proposes $15 million in new budget authority and $500 thousand transferred from the Disaster Loans Program account for a total of $15.5 million for the Office of Inspector General (OIG) for 2003. This appropriation provides funds for agency-wide audit, investigative, and inspection/ evaluation functions to promote economy and efficiency in agency operations and to prevent and detect fraud, waste, and abuse. Note.—The personnel summary includes regular (non-disaster) full-time equivalents (FTEs) of 2860, 2784, and 2640 in 2001, 2002, and 2003 respectively. f Object Classification (in millions of dollars) 2001 actual Identification code 73–0200–0–1–376 2002 est. 2003 est. OF INSPECTOR GENERAL 11.1 11.5 7 1 8 1 9 1 11.9 12.1 25.1 Total personnel compensation .............................. Civilian personnel benefits ............................................ Advisory and assistance services .................................. 8 3 2 9 3 1 10 3 3 99.9 OFFICE For necessary expenses of the Office of Inspector General in carrying out the provisions of the Inspector General Act of 1978, as amended (5 U.S.C. App.), ø$11,464,000¿ $15,011,000. (Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2002; additional authorizing legislation required.) Personnel compensation: Full-time permanent .................................................. Other personnel compensation .................................. Total new obligations ................................................ 13 13 16 Program and Financing (in millions of dollars) 2001 actual Identification code 73–0200–0–1–376 2002 est. Personnel Summary 2003 est. 2001 actual Identification code 73–0200–0–1–376 Obligations by program activity: 00.01 General Office ................................................................ 00.02 Audit ............................................................................... 00.03 Investigations ................................................................. 00.04 Management / Legal Counsel / Inspection and Evaluation ........................................................................ 00.05 Administrative expenses ................................................ 10.00 Total new obligations ................................................ 1 5 5 1 5 5 1 6 7 1 1 1 1 1 1 13 13 1001 Total compensable workyears: Full-time equivalent employment ............................................................... 16 108 2002 est. 2003 est. 120 130 f Public enterprise funds: SURETY BOND GUARANTEES REVOLVING FUND Program and Financing (in millions of dollars) Budgetary resources available for obligation: 21.40 Unobligated balance carried forward, start of year 22.00 New budget authority (gross) ........................................ 1 ................... ................... 14 13 16 2001 actual Identification code 73–4156–0–3–376 2002 est. 2003 est. Total budgetary resources available for obligation Total new obligations .................................................... 13 ¥13 16 ¥16 New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 68.00 Spending authority from offsetting collections: Offsetting collections (cash) .............................................. 13 12 15 1 1 1 70.00 Total new budget authority (gross) .......................... 14 13 16 72.40 73.10 73.20 74.40 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Obligated balance, end of year ..................................... 2 2 ................... 13 13 16 ¥13 ¥13 ¥16 2 ................... ................... Outlays (gross), detail: 86.90 Outlays from new discretionary authority ..................... 12 86.93 Outlays from discretionary balances ............................. ................... 12 1 15 1 87.00 13 Obligations by program activity: Reimbursable obligations .............................................. 13 8 8 Total new obligations (object class 42.0) ................ 13 8 8 21.40 22.00 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ 32 6 26 4 21 4 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 38 ¥13 26 30 ¥8 21 25 ¥8 18 New budget authority (gross), detail: Discretionary: 68.00 Spending authority from offsetting collections (gross): Offsetting collections (cash) ................... 6 4 4 72.40 73.10 73.20 74.40 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Obligated balance, end of year ..................................... 1 13 ¥14 1 1 8 ¥9 1 1 8 ¥8 1 86.90 86.93 15 ¥13 09.01 10.00 23.90 23.95 Outlays (gross), detail: Outlays from new discretionary authority ..................... Outlays from discretionary balances ............................. 6 7 4 4 4 4 87.00 Total outlays (gross) ................................................. 14 9 8 Offsets: Against gross budget authority and outlays: 88.40 Offsetting collections (cash) from: Non-Federal sources .................................................................. ¥6 ¥4 ¥4 16 Total outlays (gross) ................................................. Offsets: Against gross budget authority and outlays: 88.00 Offsetting collections (cash) from: Payments from disaster loan program account ............................ Net budget authority and outlays: 89.00 Budget authority ............................................................ 90.00 Outlays ........................................................................... VerDate 11-MAY-2000 14:59 Jan 23, 2002 Jkt 189685 13 ¥1 ¥1 ¥1 13 12 12 12 15 15 PO 00000 Frm 00002 Fmt 3616 Sfmt 3643 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA SMALL BUSINESS ADMINISTRATION 89.00 90.00 Net budget authority and outlays: Budget authority ............................................................ ................... ................... ................... Outlays ........................................................................... 7 5 4 SBA is authorized to issue bond guarantees to surety companies for construction, service, and supply contracts that do not exceed $2,000,000 and to reimburse these sureties up to 90 percent of the losses sustained if the contractor defaults. SBA’s guarantees provide the incentive necessary for sureties to issue bonds to small contractors who could not otherwise compete in the contracting industry. In 2003, the budget proposes a $1.7 billion program level that is anticipated to be sufficient to accommodate demand from prior-approval and preferred sureties. This program does not require a subsidy appropriation. 2000 actual 2001 actual 2002 est. 2003 est. 0101 0102 Revenue ................................................... Expense .................................................... 14 –14 3 –10 6 –6 6 –6 0105 Net income or loss (–) ............................ .................. –7 .................. .................. 2000 actual ASSETS: Federal assets: 1101 Fund balances with Treasury ............. Investments in US securities: 1106 Receivables, net ............................. 33 1999 2001 actual Program and Financing (in millions of dollars) 2001 actual Identification code 73–1154–0–1–376 2002 est. 2003 est. 2002 est. 00.01 00.02 00.05 00.07 00.08 00.09 Obligations by program activity: Direct loan subsidy ........................................................ Guaranteed loan subsidy ............................................... Reestimate of direct loan .............................................. Reestimate of loan guarantee subsidy ......................... Interest on reestimates of loan guarantee subsidy Administrative expenses ................................................ 3 142 1 30 4 134 2 4 175 85 1 ................... 102 ................... 19 ................... 134 133 Total new obligations ................................................ 314 433 222 98 333 120 405 92 222 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Resources available from recoveries of prior year obligations ....................................................................... 22.22 Unobligated balance transferred from other accounts 21.40 22.00 22.10 23.90 23.95 24.40 Balance Sheet (in millions of dollars) Identification code 73–4156–0–3–376 aster recovery activities and assistance related to the terrorist acts in New York, Virginia, and Pennsylvania on September 11, 2001, for ‘‘Business Loans Program Account’’, $75,000,000, to remain available until expended, to be obligated from amounts made available in Public Law 107–38.¿ (Emergency Supplemental Act, 2002.) 10.00 Statement of Operations (in millions of dollars) Identification code 73–4156–0–3–376 1055 Federal Funds—Continued 2003 est. 26 42 42 7 6 .................. .................. Total assets ........................................ LIABILITIES: 2201 Non-Federal liabilities: Accounts payable 40 32 42 14 36 37 14 36 36 525 ¥433 92 314 ¥222 92 New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 299 214 222 40.15 Appropriation [Terrorist response] ............................. ................... 75 ................... 40.36 Unobligated balance rescinded ................................. ................... ¥6 ................... 40.77 Reduction pursuant to P.L. 106–554 (0.22 percent) ¥1 ................... ................... 36 2999 434 ¥314 120 42 37 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 1 ................... ................... 2 ................... ................... Total liabilities .................................... NET POSITION: 3100 Appropriated capital ................................ 3300 Cumulative results of operations ............ 43.00 303 –300 293 –275 332 –326 332 –326 3999 Total net position ................................ 3 18 6 6 4999 Total liabilities and net position ............ 40 32 42 42 f 298 60.00 Appropriation (total discretionary) ........................ Mandatory: Appropriation ............................................................. 70.00 Total new budget authority (gross) .......................... 333 72.40 73.10 73.20 73.40 73.45 74.40 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Adjustments in expired accounts (net) ......................... Recoveries of prior year obligations .............................. Obligated balance, end of year ..................................... 86.90 86.93 86.97 Outlays (gross), detail: Outlays from new discretionary authority ..................... Outlays from discretionary balances ............................. Outlays from new mandatory authority ......................... 150 104 35 180 141 108 103 122 ................... 87.00 Total outlays (gross) ................................................. 289 410 244 89.00 90.00 Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 333 289 405 410 222 244 Credit accounts: BUSINESS LOANS PROGRAM ACCOUNT For the cost of direct loans, ø$1,860,000¿ $3,726,000, to be available until expended; and for the cost of guaranteed loans, ø$78,000,000¿ $85,360,000, as authorized by 15 U.S.C. 631 note, of which $45,000,000 shall remain available until September 30, ø2003¿ 2004: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974, as amended: Provided further, That during fiscal year ø2002¿ 2003 commitments to guarantee loans under section 503 of the Small Business Investment Act of 1958, as amended, shall not exceed $4,500,000,000ø, as provided under section 20(h)(1)(B)(ii) of the Small Business Act: Provided further, That during fiscal year 2002 commitments for general business loans authorized under section 7(a) of the Small Business Act, as amended, shall not exceed $10,000,000,000 without prior notification of the Committees on Appropriations of the House of Representatives and Senate in accordance with section 605 of this Act¿: Provided further, That during fiscal year ø2002¿ 2003 commitments to guarantee loans for debentures and participating securities under section 303(b) of the Small Business Investment Act of 1958, as amended, shall not exceed the levels established by section ø20(h)(1)(C)¿ 20(i)(1)(C) of the Small Business Act. In addition, for administrative expenses to carry out the direct and guaranteed loan programs, ø$129,000,000¿ $133,769,000, which may be transferred to and merged with the appropriations for Salaries and Expenses. (Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2002; additional authorizing legislation required.) øFor emergency expenses for the cost of loan subsidies and for loan modifications as authorized by section 203 of this Act, for dis- VerDate 11-MAY-2000 14:59 Jan 23, 2002 Jkt 189685 PO 00000 Frm 00003 Fmt 3616 35 283 222 122 ................... 405 222 88 94 117 314 433 222 ¥289 ¥410 ¥244 ¥18 ................... ................... ¥1 ................... ................... 94 117 95 Budget Authority and Outlays Excluding Full Funding for Federal Retiree Costs (in millions of dollars) 2001 actual 89.00 90.00 Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 328 284 2002 est. 400 405 2003 est. 218 240 Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars) 2001 actual Identification code 73–1154–0–1–376 Direct loan levels supportable by subsidy budget authority: 115001 Micro loans .................................................................... 115901 Total direct loan levels .................................................. Direct loan subsidy (in percent): 132001 Micro loans .................................................................... Sfmt 3643 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA 2002 est. 2003 est. 30 26 27 30 26 27 8.95 6.78 13.05 1056 THE BUDGET FOR FISCAL YEAR 2003 Federal Funds—Continued 235002 235003 235004 235005 235006 235007 Credit accounts—Continued BUSINESS LOANS PROGRAM ACCOUNT—Continued Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)—Continued 2001 actual Identification code 73–1154–0–1–376 132901 Weighted average subsidy rate ..................................... Direct loan subsidy budget authority: 133001 Micro loans .................................................................... 8.95 133901 Total subsidy budget authority ...................................... Direct loan subsidy outlays: 134001 Micro loans .................................................................... 2002 est. 2003 est. 6.78 13.05 3 2 3 3 2 3 1 1 2 134901 Total subsidy outlays ..................................................... Direct loan upward reestimate subsidy budget authority: 135001 Micro loans .................................................................... 1 1 2 1 1 ................... 135901 Total upward reestimate budget authority .................... Direct loan upward reestimate subsidy outlays: 136001 Micro loans .................................................................... 1 1 ................... 1 1 ................... 136901 Total upward reestimate outlays ................................... 1 Direct loan downward reestimate subsidy budget authority: 137001 Micro loans .................................................................... ................... 1 ................... ¥4 ................... 138901 Total downward reestimate subsidy outlays ................. ................... ¥4 ................... ¥4 ................... 2 7,290 4,491 20 4,500 3 2,500 3,500 152 ................... 4,850 ................... ................... 4,500 ................... 3,000 4,000 ................... 215901 Total loan guarantee levels ........................................... Guaranteed loan subsidy (in percent): 232001 Microloan guarantees .................................................... 232002 General business—7(a) ................................................ 232002 General business—7(a)¥terrorist response ................ 232003 General business—7(a) DELTA ..................................... 232004 Section 504 .................................................................... 232005 Section 504 DELTA ......................................................... 232006 SBIC debentures ............................................................ 232007 SBIC participating securities ......................................... 232008 New Market Venture Capital .......................................... 232009 Y2k ................................................................................. 13,990 22,458 16,350 7.95 1.17 0.00 1.88 0.00 0.89 0.00 1.31 14.44 4.04 8.17 1.07 1.67 1.73 0.00 0.84 0.00 0.00 14.47 0.00 8.42 1.76 1.78 2.40 0.00 0.88 0.00 0.00 15.46 0.00 232901 Weighted average subsidy rate ..................................... Guaranteed loan subsidy budget authority: 233001 Microloan guarantees .................................................... 233002 General business—7(a) ................................................ 233002 General business—7(a)¥terrorist response ................ 233003 General business—7(a) DELTA ..................................... 233004 Section 504 .................................................................... 233005 Section 504 DELTA ......................................................... 233006 SBIC debentures ............................................................ 233007 SBIC participating securities ......................................... 233008 New Market Venture Capital .......................................... 0.96 0.68 0.51 ................... 107 ................... ................... ................... ................... ................... 28 ................... ................... 78 75 ................... ................... ................... ................... ................... ................... ................... 85 ................... ................... ................... ................... ................... ................... ................... 135 153 85 1 122 ................... 1 1 ................... ................... 28 ................... ................... 89 47 ................... ................... ................... ................... ................... 22 ................... 81 ................... ................... ................... ................... ................... ................... ................... 233901 Total subsidy budget authority ...................................... Guaranteed loan subsidy outlays: 234001 Microloan guarantees .................................................... 234002 General business—7(a) ................................................ 234002 General business—7(a)¥terrorist response ................ 234003 General business—7(a) DELTA ..................................... 234004 Section 504 .................................................................... 234005 Section 504 DELTA ......................................................... 234006 SBIC debentures ............................................................ 234007 SBIC participating securities ......................................... 234008 New Market Venture Capital .......................................... 234901 Total subsidy outlays ..................................................... 153 158 81 Guaranteed loan upward reestimate subsidy budget authority: 235001 Microloan guarantees .................................................... ................... ................... ................... VerDate 11-MAY-2000 14:59 Jan 23, 2002 Jkt 189685 PO 00000 235901 Total upward reestimate budget authority .................... Guaranteed loan upward reestimate subsidy outlays: 236001 Microloan guarantees .................................................... 236002 General business—7(a) ................................................ 236003 General business—7(a) DELTA ..................................... 236004 Section 504 .................................................................... 236005 Section 504 DELTA ......................................................... 236006 SBIC debentures ............................................................ 236007 SBIC participating securities ......................................... ................... 15 ................... ................... ................... ................... ................... 21 ................... ................... ................... ................... 34 15 ................... ................... 70 ................... 34 121 ................... ................... ................... ................... ................... 15 ................... ................... ................... ................... ................... 21 ................... ................... ................... ................... 34 15 ................... ................... 70 ................... 236901 Total upward reestimate subsidy outlays ..................... 34 121 ................... Guaranteed loan downward reestimate subsidy budget authority: 237001 Microloan guarantees .................................................... ................... ................... ................... 237002 General business—7(a) ................................................ ¥117 ¥179 ................... 237003 General business—7(a) DELTA ..................................... ................... ................... ................... 237004 Section 504 .................................................................... ¥180 ¥110 ................... 237005 Section 504 DELTA ......................................................... ................... ................... ................... 237006 SBIC debentures ............................................................ ¥91 ¥35 ................... 237007 SBIC participating securities ......................................... ¥334 ¥38 ................... ¥4 ................... 137901 Total downward reestimate budget authority ............... ................... Direct loan downward reestimate subsidy outlays: 138001 Micro loans .................................................................... ................... Guaranteed loan levels supportable by subsidy budget authority: 215001 Microloan guarantees .................................................... 2 215002 General business—7(a) ................................................ 9,122 215002 General business—7(a)¥terrorist response ................ ................... 215003 General business—7(a) DELTA ..................................... 1 215004 Section 504 .................................................................... 2,269 215005 Section 504 DELTA ......................................................... ................... 215006 SBIC debentures ............................................................ 487 215007 SBIC participating securities ......................................... 2,109 215008 New Market Venture Capital .......................................... ................... General business—7(a) ................................................ General business—7(a) DELTA ..................................... Section 504 .................................................................... Section 504 DELTA ......................................................... SBIC debentures ............................................................ SBIC participating securities ......................................... Frm 00004 Fmt 3616 237901 Total downward reestimate subsidy budget authority ¥722 ¥362 ................... Guaranteed loan downward reestimate subsidy outlays: 238001 Microloan guarantees .................................................... ................... ................... ................... 238002 General business—7(a) ................................................ ¥117 ¥179 ................... 238003 General business—7(a) DELTA ..................................... ................... ................... ................... 238004 Section 504 .................................................................... ¥180 ¥110 ................... 238005 Section 504 DELTA ......................................................... ................... ................... ................... 238006 SBIC debentures ............................................................ ¥91 ¥35 ................... 238007 SBIC participating securities ......................................... ¥334 ¥38 ................... 238901 Total downward reestimate subsidy outlays ................. ¥722 Administrative expense data: 351001 Budget authority ............................................................ 359001 Outlays from new authority ........................................... 134 129 ¥362 ................... 134 129 133 129 As required by the Federal Credit Reform Act of 1990, as amended, this account records, for this program, the subsidy costs associated with the direct loans obligated and loan guarantees committed in 1992 and beyond (including modifications of direct loans or loan guarantees that resulted from obligations or commitments in any year), as well as administrative expenses of this program. The subsidy amounts are estimated on a present value basis; the administrative expenses are estimated on a cash basis. For 2003, the budget proposes $218.5 million in new budget authority for the Business Loans Program account. This amount will be used to administer the loan programs and support 7(a) loans and $26.6 million in loans through the Microloan Direct program. For all other loan programs, borrowers fees are sufficient to cover subsidy obligations. The Section 7(a) program provides general business credit assistance. The requested program level for 2003 is $4.85 billion. The Section 504 CDC Program is for long-term fixed rate financing and will require a program level of $4.5 billion in 2003. The Small Business Investment Companies (SBIC) program provides debt and equity capital. The budget proposes a program level of $4 billion for SBIC Participating Securities and $3 billion for SBIC Debentures. The Microloan Direct program provides loans of $35,000 or less through intermediaries. Object Classification (in millions of dollars) 2001 actual Identification code 73–1154–0–1–376 2002 est. 2003 est. 12.1 25.2 41.0 Civilian personnel benefits ............................................ Other services ................................................................ Grants, subsidies, and contributions ............................ 10 124 180 10 124 299 8 125 89 99.9 Total new obligations ................................................ 314 433 222 Sfmt 3643 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA SMALL BUSINESS ADMINISTRATION 1290 BUSINESS DIRECT LOAN FINANCING ACCOUNT Program and Financing (in millions of dollars) 2001 actual Identification code 73–4148–0–3–376 2002 est. Obligations by program activity: Direct loans .................................................................... 31 Interest on Treasury borrowing ...................................... 42 Other expenses: 00.03 Other expenses .......................................................... ................... 00.01 00.02 00.91 08.02 08.04 08.91 Total new obligations ................................................ 27 50 2 2 1 ................... 4 ................... 73 77 79 Budgetary resources available for obligation: 21.40 Unobligated balance carried forward, start of year 22.00 New financing authority (gross) .................................... 22.60 Portion applied to repay debt ........................................ 430 ¥19 ¥21 23.90 23.95 24.40 390 77 79 ¥73 ¥77 ¥79 317 ................... ................... 317 ................... 86 88 ¥326 ¥9 68.90 70.00 27 19 19 ¥58 67 69 12 ................... ................... 121 124 Balance Sheet (in millions of dollars) 2000 actual Identification code 73–4148–0–3–376 ASSETS: Federal assets: 1101 Fund balances with Treasury ............. Investments in US securities: 1106 Receivables, net ............................. 1206 Non-Federal assets: Receivables, net ..... Net value of assets related to post– 1991 direct loans receivable: 1401 Direct loans receivable, gross ............ 1405 Allowance for subsidy cost (–) ........... 1499 Net present value of assets related to direct loans ........................... Net value of assets related to post– 1991 acquired defaulted guaranteed loans receivable: Foreclosed property 2001 actual 2002 est. 2003 est. 463 305 572 572 68 29 41 30 71 31 71 31 2 .................. 107 –3 4 –2 4 –2 2 104 2 2 .................. .................. .................. .................. Total assets ........................................ LIABILITIES: Federal liabilities: 2101 Accounts payable ................................ 2104 Resources payable to Treasury ........... 562 480 676 676 27 535 43 437 30 646 30 646 1999 Spending authority from offsetting collections (total discretionary) .......................................... ¥46 67 69 2999 Total liabilities .................................... 562 480 676 676 Total new financing authority (gross) ...................... ¥19 86 88 4999 Total liabilities and net position ............ 562 480 676 676 32 73 ¥54 39 77 ¥60 56 79 ¥64 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total financing disbursements (gross) ......................... Change in uncollected customer payments from Federal sources (unexpired) ............................................ 74.40 Obligated balance, end of year ..................................... 87.00 Total financing disbursements (gross) ......................... 72.40 73.10 73.20 74.00 ¥12 ................... ................... 39 56 71 54 60 64 Offsets: Against gross financing authority and financing disbursements: Offsetting collections (cash) from: 88.00 Federal sources: Payments from program account ................................................................. ¥2 Non-Federal sources: 88.40 Repayments of principal, net ........................... ¥13 88.40 Federal sources ................................................ ................... 88.40 Interest received on loans ................................ ¥25 88.40 Other income .................................................... 98 ¥15 ¥15 ¥1 ................... ¥26 ¥27 ¥23 ¥25 88.90 ¥67 88.95 107 As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from direct loans obligated in 1992 and beyond (including modifications of direct loans that resulted from obligations in any year). The amounts in this account are a means of financing and are not included in the budget totals. 1504 New financing authority (gross), detail: Discretionary: 47.00 Authority to borrow .................................................... Spending authority from offsetting collections: 68.00 Offsetting collections (cash) ..................................... 68.10 Change in receivables from program account ......... Outstanding, end of year .......................................... 73 79 3 ................... Direct Program by Activities—Subtotal (1 level) ................... 10.00 2003 est. 26 45 Direct Program by Activities—Subtotal (1 level) 73 Payment of downward reestimate to a receipt account ................... Payment of interest on sownward reestimate to a receipt account .......................................................... ................... Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 1057 Federal Funds—Continued Total, offsetting collections (cash) .................. Against gross financing authority only: Change in receivables from program accounts ....... Net financing authority and financing disbursements: 89.00 Financing authority ........................................................ 90.00 Financing disbursements ............................................... ¥2 58 ¥2 ¥69 27 113 19 ¥7 19 ¥5 2002 est. 2003 est. Position with respect to appropriations act limitation on obligations: 1111 Limitation on direct loans ............................................. 30 25 26 1150 30 25 26 Cumulative balance of direct loans outstanding: 1210 Outstanding, start of year ............................................. 1231 Disbursements: Direct loan disbursements ................... 1251 Repayments: Repayments and prepayments ................. 1263 Write-offs for default: Direct loans ............................... VerDate 11-MAY-2000 14:59 Jan 23, 2002 Jkt 189685 Program and Financing (in millions of dollars) 2001 actual Identification code 73–4149–0–3–376 00.91 08.02 08.03 08.04 Obligations by program activity: Default claims ............................................................... Other Expenses .............................................................. Direct Program by Activities—Subtotal (1 level) Payment of downward reestimate to receipt account Payment to liquidating account to purchase loan assets (73–4154) .......................................................... Payment of interest on downward reestimate to receipt account ............................................................. 2002 est. 2003 est. 731 51 762 156 762 280 782 558 918 1,042 285 ................... 12 4 ................... 164 77 ................... 08.91 Direct Program by Activities—Subtotal (1 level) 734 10.00 Total new obligations ................................................ 1,516 1,284 366 ................... 1,042 21.40 22.00 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New financing authority (gross) .................................... 964 720 169 1,126 11 1,031 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 1,684 ¥1,516 169 ¥12 ................... ................... 2001 actual Total direct loan obligations ..................................... BUSINESS GUARANTEED LOAN FINANCING ACCOUNT 00.01 00.05 Status of Direct Loans (in millions of dollars) Identification code 73–4148–0–3–376 f New financing authority (gross), detail: Spending authority from offsetting collections: Discretionary: 68.00 Offsetting collections (cash) ................................ 68.10 Change in uncollected customer payments from Federal sources (unexpired) ............................. 68.90 60 53 ¥5 ¥1 107 29 ¥10 ¥5 121 18 ¥10 ¥5 PO 00000 Frm 00005 Fmt 3616 72.40 73.10 716 1,295 1,042 ¥1,284 ¥1,042 11 ................... 1,126 1,031 4 ................... ................... Spending authority from offsetting collections (total discretionary) ..................................... 720 1,126 1,031 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... ¥58 1,516 ¥40 1,284 94 1,042 Sfmt 3643 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA 1058 THE BUDGET FOR FISCAL YEAR 2003 Federal Funds—Continued Credit accounts—Continued Balance Sheet (in millions of dollars) BUSINESS GUARANTEED LOAN FINANCING ACCOUNT—Continued Program and Financing (in millions of dollars)—Continued 2001 actual Identification code 73–4149–0–3–376 73.20 74.00 74.40 87.00 Total financing disbursements (gross) ......................... Change in uncollected customer payments from Federal sources (unexpired) ............................................ Obligated balance, end of year ..................................... Total financing disbursements (gross) ......................... ¥1,494 2002 est. ¥1,150 2003 est. ¥1,123 ¥4 ................... ................... ¥40 94 13 1,494 1,150 1,123 Offsets: Against gross financing authority and financing disbursements: Offsetting collections (cash) from: Federal sources: 88.00 Payments from program account ..................... ¥153 88.00 Upward restimate ............................................. ¥30 88.00 Interest on reestimate ...................................... ¥4 88.25 Interest on uninvested funds ............................... ¥1 Non-Federal sources: 88.40 Fees .................................................................. ................... 88.40 Proceeds from loan asset sales ....................... ¥751 88.40 other ................................................................. 223 ASSETS: Federal assets: 1101 Fund balances with Treasury ............. Investments in US securities: 1106 Receivables, net ............................. 1207 Non-Federal assets: Advances and prepayments ............................................. Net value of assets related to post– 1991 acquired defaulted guaranteed loans receivable: 1501 Defaulted guaranteed loans receivable, gross ...................................... 1502 Interest receivable .............................. 1505 Allowance for subsidy cost (–) ........... 1599 ¥158 ¥81 ¥102 ................... ¥19 ................... ¥46 ¥48 ¥441 ¥700 ¥248 ................... ¥112 ¥202 2000 actual Identification code 73–4149–0–3–376 1901 Net present value of assets related to defaulted guaranteed loans Other Federal assets: Other assets ........ 1999 Total assets ........................................ LIABILITIES: 2204 Non-Federal liabilities: Liabilities for loan guarantees .................................. 2001 actual 2002 est. 2003 est. 906 924 943 960 120 179 183 199 449 245 250 250 817 37 –78 966 30 –32 1,224 31 –90 1,476 31 –90 776 197 964 238 1,165 243 1,417 143 2,448 2,550 2,784 2,969 2,448 2,550 2,784 2,969 88.95 Total, offsetting collections (cash) .................. Against gross financing authority only: Change in receivables from program accounts ....... ¥716 ¥1,126 Total liabilities .................................... 2,448 2,550 2,784 2,969 4999 88.90 2999 Total liabilities and net position ............ 2,448 2,550 2,784 2,969 ¥1,031 f ¥4 ................... ................... BUSINESS LOAN FUND LIQUIDATING ACCOUNT Net financing authority and financing disbursements: 89.00 Financing authority ........................................................ ................... ................... ................... 90.00 Financing disbursements ............................................... 778 24 92 2001 actual 2002 est. 2003 est. Position with respect to appropriations act limitation on commitments: 2111 Limitation on guaranteed loans made by private lenders .............................................................................. 13,990 22,458 16,350 2150 13,990 22,458 16,350 Total guaranteed loan commitments ........................ Cumulative balance of guaranteed loans outstanding: 2210 Outstanding, start of year ............................................. 2231 Disbursements of new guaranteed loans ...................... 2251 Repayments and prepayments ...................................... Adjustments: 2261 Terminations for default that result in loans receivable ....................................................................... 2264 Other adjustments, net ............................................. 2290 Outstanding, end of year .......................................... 31,739 10,963 ¥6,919 35,107 9,111 ¥5,338 38,175 10,111 ¥7,481 ¥645 ¥31 ¥670 ¥35 ¥684 ¥36 35,107 38,175 40,085 Memorandum: 2299 Guaranteed amount of guaranteed loans outstanding, end of year ................................................................ 26,133 22,459 23,859 Addendum: Cumulative balance of defaulted guaranteed loans that result in loans receivable: 2310 Outstanding, start of year ........................................ 2331 Disbursements for guaranteed loan claims ............. 2351 Repayments of loans receivable ............................... 2361 Write-offs of loans receivable ................................... 2364 Other adjustments, net ............................................. 817 645 ¥239 ¥150 ¥107 966 670 ¥214 ¥61 ¥137 1,224 684 ¥218 ¥74 ¥140 966 1,224 1,476 2390 Outstanding, end of year ...................................... As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from loan guarantees committed in 1992 and beyond (including modifications of loan guarantees that resulted from commitments in any year). The amounts in this account are a means of financing and are not included in the budget totals. VerDate 11-MAY-2000 14:59 Jan 23, 2002 Jkt 189685 2001 actual Identification code 73–4154–0–3–376 2002 est. 2003 est. PO 00000 Frm 00006 Fmt 3616 00.01 00.03 00.05 Obligations by program activity: Interest Expense to Treasury ......................................... Msc. program expenses ................................................. Guaranteed loan default claims .................................... 23 44 213 12 13 145 8 10 135 10.00 Status of Guaranteed Loans (in millions of dollars) Identification code 73–4149–0–3–376 Program and Financing (in millions of dollars) Total new obligations ................................................ 280 170 153 271 64 350 ................... 100 245 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Resources available from recoveries of prior year obligations ....................................................................... 22.21 Unobligated balance transferred to other accounts 22.40 Capital transfer to general fund ................................... 22.60 Portion applied to repay debt ........................................ 508 92 ................... ¥1 ................... ................... ¥185 ¥350 ¥31 ¥27 ¥22 ¥61 23.90 23.95 24.40 630 170 153 ¥280 ¥170 ¥153 350 ................... ................... 21.40 22.00 22.10 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... New budget authority (gross), detail: Mandatory: 69.00 Offsetting collections (cash) ..................................... 64 72.40 73.10 73.20 73.45 74.40 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Recoveries of prior year obligations .............................. Obligated balance, end of year ..................................... 593 280 ¥39 ¥508 326 86.97 Outlays (gross), detail: Outlays from new mandatory authority ......................... 39 Offsets: Against gross budget authority and outlays: Offsetting collections (cash) from: Loan repayments: Non-Federal sources: 88.40 Financing programs-principal ..................... ¥17 88.40 Investment programs-principal ................... ¥5 88.40 Interest Income-Business ............................ ¥2 88.40 Interest income-Investment ......................... ¥1 88.40 collection on FFB loans ............................... ¥27 88.40 Other Income-both Business and Investment ........................................................ ................... 88.40 Asset sale proceeds ..................................... ¥12 Sfmt 3643 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA 100 245 326 344 170 153 ¥60 ¥147 ¥92 ................... 344 350 60 147 ¥17 ¥5 ¥17 ¥5 ¥22 ¥45 ¥15 ¥15 ¥3 ¥15 ¥26 ¥8 ¥67 ¥85 SMALL BUSINESS ADMINISTRATION 88.90 Total, offsetting collections (cash) .................. 1059 Federal Funds—Continued ¥64 ¥100 ¥245 Balance Sheet (in millions of dollars) Status of Direct Loans (in millions of dollars) 2001 actual Identification code 73–4154–0–3–376 Business Loan Fund, Direct Loans Cumulative balance of direct loans outstanding: 1210 Outstanding, start of year ............................................. 1232 Disbursements: Purchase of loans assets from the public ......................................................................... Repayments: 1251 Repayments and prepayments .................................. 1252 Proceeds from loan asset sales to the public or discounted ............................................................. 1262 Adjustments: Discount on loan asset sales to the public or discounted ................................................. 1263 Write-offs for default: Direct loans ............................... 1290 Outstanding, end of year .......................................... Small Business Investment Company, Direct Loans Section 503 Development Company, Direct Loans Cumulative balance of direct loans outstanding: 1210 Outstanding, start of year ............................................. 1251 Repayments: Repayments and prepayments ................. 1290 Outstanding, end of year .......................................... 2002 est. 2003 est. 326 204 125 14 12 11 ¥26 ¥21 ¥35 ¥12 ¥57 ................... ¥36 ................... ................... ¥62 ¥13 ¥11 204 125 90 159 ¥26 133 ¥22 111 ¥15 133 111 96 Status of Guaranteed Loans (in millions of dollars) 2001 actual Identification code 73–4154–0–3–376 Business Loan Fund, Loan Guarantees Cumulative balance of guaranteed loans outstanding: 2210 Outstanding, start of year ............................................. 2251 Repayments and prepayments ...................................... 2261 Adjustments: Terminations for default that result in loans receivable ........................................................ 2002 est. 2001 actual 920 676 420 250 418 3 490 3 90 1 83 1 913 8 50 8 109 2 69 2 484 337 236 186 –73 –26 –35 –30 411 115 311 88 201 34 156 14 Total assets ........................................ LIABILITIES: Federal liabilities: 2101 Accounts payable ................................ 2102 Interest payable .................................. 2103 Debt to the FFB .................................. 2105 Other Liabilities .................................. Non-Federal liabilities: 2201 Accounts payable ................................ 2204 Liabilities for loan guarantees ........... 2207 Other Liabilities .................................. 2,788 1,626 857 575 48 96 159 1,459 27 .................. 133 987 22 56 102 385 15 46 36 152 108 13 905 4 .................. 475 35 11 246 35 10 281 Total liabilities .................................... 2,788 1,626 857 575 4999 Net budget authority and outlays: Budget authority ............................................................ ................... ................... ................... Outlays ........................................................................... ¥25 ¥40 ¥98 2000 actual 2999 89.00 90.00 Total liabilities and net position ............ 2,788 1,626 857 575 Identification code 73–4154–0–3–376 ASSETS: Federal assets: 1101 Fund balances with Treasury ............. Investments in US securities: 1104 Agency securities, par .................... 1107 Advances and prepayments ........... Non-Federal assets: 1206 Receivables, net .................................. 1207 Advances and prepayments ................ Net value of assets related to pre–1992 direct loans receivable and acquired defaulted guaranteed loans receivable: 1601 Direct loans, gross .............................. 1603 Allowance for estimated uncollectible loans and interest (–) .................... 1699 1901 Value of assets related to direct loans .......................................... Other Federal assets: Other assets ........ 1999 2002 est. 2003 est. 2003 est. Object Classification (in millions of dollars) 2,010 ¥493 1,501 ¥313 1,176 ¥244 ¥16 ¥12 1,176 2002 est. 2003 est. ¥11 1,501 2001 actual Identification code 73–4154–0–3–376 Outstanding, end of year .......................................... 921 Insurance claims and indemnities ................................ Interest and dividends ................................................... 257 23 158 12 145 8 99.9 2290 42.0 43.0 Total new obligations ................................................ 280 170 153 f Memorandum: 2299 Guaranteed amount of guaranteed loans outstanding, end of year ................................................................ Addendum: Cumulative balance of defaulted guaranteed loans that result in loans receivable: 2310 Outstanding, start of year ........................................ 2331 Disbursements for guaranteed loan claims ............. 2351 Repayments of loans receivable ............................... 2361 Write-offs of loans receivable ................................... 2364 Other adjustments, net ............................................. 2390 Outstanding, end of year ...................................... 1,319 1,019 522 16 ¥101 ¥38 ¥18 381 12 ¥55 ¥19 ¥8 311 11 ¥24 ¥11 ¥5 381 311 282 As required by the Federal Credit Reform Act of 1990, as amended, this account records, for this program, all cash flows to and from the Government resulting from direct loans obligated and loan guarantees committed prior to 1992. This account is shown on a cash basis. All new activity in this program in 1992 and beyond (including modifications of direct loans or loan guarantees that resulted from obligations or commitments in any year) is recorded in corresponding program and financing accounts. Statement of Operations (in millions of dollars) Identification code 73–4154–0–3–376 2000 actual 2001 actual 2002 est. 2003 est. 0101 0102 Revenue ................................................... Expense .................................................... 107 –68 24 –154 20 –125 16 –100 0105 Net income or loss (–) ............................ 39 –130 –105 –84 PO 00000 Frm 00007 Fmt 3616 VerDate 11-MAY-2000 14:59 Jan 23, 2002 Jkt 189685 DISASTER LOANS PROGRAM ACCOUNT 784 For the cost of direct loans authorized by section 7(b) of the Small Business Act, as amended, ø$87,360,000¿ $76,140,000, to remain available until expended: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974, as amended. In addition, for administrative expenses to carry out the direct loan program, ø$122,354,000¿ $122,141,000, which may be transferred to and merged with appropriations for Salaries and Expenses, of which $500,000 is for the Office of Inspector General of the Small Business Administration for audits and reviews of disaster loans and the disaster loan program and shall be transferred to and merged with appropriations for the Office of Inspector General; of which ø$112,000,000¿ $111,787,000 is for direct administrative expenses of loan making and servicing to carry out the direct loan program; and of which $9,854,000 is for indirect administrative expenses: Provided, That any amount in excess of $9,854,000 to be transferred to and merged with appropriations for Salaries and Expenses for indirect administrative expenses shall be treated as a reprogramming of funds under section 605 of this Act and shall not be available for obligation or expenditure except in compliance with the procedures set forth in that section. (Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2002; additional authorizing legislation required.) øFor emergency expenses for the cost of loan subsidies and for loan modifications as authorized by section 202 of this Act, for disaster recovery activities and assistance related to the terrorist acts in New York, Virginia, and Pennsylvania on September 11, 2001, for ‘‘Disaster Loans Program Account’’, $75,000,000, to remain available until expended, to be obligated from amounts made available in Public Law 107–38.¿ (Emergency Supplemental Act, 2002.) Sfmt 3616 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA 1060 THE BUDGET FOR FISCAL YEAR 2003 Federal Funds—Continued 115901 Total direct loan levels .................................................. Direct loan subsidy (in percent): 132001 Direct Disaster Loans .................................................... 132001 Direct loan levels ¥terrorist attack ............................. Credit accounts—Continued DISASTER LOANS PROGRAM ACCOUNT—Continued Program and Financing (in millions of dollars) 2001 actual Identification code 73–1152–0–1–453 00.01 00.05 00.06 00.09 Obligations by program activity: Direct loan subsidy ........................................................ 153 Upward reestimate of direct loans ................................ ................... Interest on upward reestimates of direct loans ........... ................... Administrative expense .................................................. 133 00.91 08.03 Direct Program by Activities—Subtotal (1 level) Gainsharing to Salaries and Expenses ......................... 10.00 Total new obligations ................................................ 21.40 22.00 22.10 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Resources available from recoveries of prior year obligations ....................................................................... 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 2002 est. 2003 est. 239 111 347 ................... 159 ................... 166 122 286 911 3 ................... 233 3 289 911 236 122 287 131 795 25 201 11 10 10 420 ¥289 131 936 236 ¥911 ¥236 25 ................... New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 189 214 198 40.15 Appropriation (Supplemental emergency) ................. ................... 75 ................... 41.00 Transferred to other accounts ................................... ¥5 ................... ................... 42.00 Transferred from other accounts .............................. 100 ................... ................... 43.00 60.00 68.00 70.00 Appropriation (total discretionary) ........................ 284 289 198 Mandatory: Appropriation ............................................................. ................... 506 ................... Discretionary: Spending authority from offsetting collections: Offsetting collections (cash) ..................................... 3 ................... 3 Total new budget authority (gross) .......................... 287 795 201 Change in obligated balances: 72.40 Obligated balance, start of year ................................... 73.10 Total new obligations .................................................... 73.20 Total outlays (gross) ...................................................... 73.45 Recoveries of prior year obligations .............................. 74.40 Obligated balance, end of year ..................................... 31 289 ¥241 ¥11 68 68 911 ¥882 ¥10 87 87 236 ¥246 ¥10 67 86.90 86.93 86.97 87.00 Outlays (gross), detail: Outlays from new discretionary authority ..................... 120 Outlays from discretionary balances ............................. 122 Outlays from new mandatory authority ......................... ................... Total outlays (gross) ................................................. Offsets: Against gross budget authority and outlays: 88.00 Offsetting collections (cash) from: Federal sources 89.00 90.00 Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 241 221 156 155 90 506 ................... 882 246 ¥3 ................... ¥3 284 238 198 243 795 882 Budget Authority and Outlays Excluding Full Funding for Federal Retiree Costs (in millions of dollars) 2001 actual 89.00 90.00 Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 280 234 2002 est. 791 878 2003 est. VerDate 11-MAY-2000 14:59 Jan 23, 2002 Jkt 189685 545 17.46 23.61 14.67 23.16 13.98 0.00 132901 Weighted average subsidy rate ..................................... Direct loan subsidy budget authority: 133001 Direct Disaster Loans .................................................... 133001 Direct loan levels ¥terrorist attack ............................. 17.46 17.66 13.94 133901 Total subsidy budget authority ...................................... Direct loan subsidy outlays: 134001 Direct Disaster Loans .................................................... 134001 Direct loan levels ¥terrorist attack ............................. 153 162 76 124 1 105 119 106 15 134901 Total subsidy outlays ..................................................... 125 Direct loan upward reestimate subsidy budget authority: 135001 Direct Disaster Loans .................................................... ................... 224 121 152 1 135901 Total upward reestimate budget authority .................... ................... Direct loan upward reestimate subsidy outlays: 136001 Direct Disaster Loans .................................................... ................... 87 76 75 ................... 506 ................... 506 ................... 506 ................... 136901 Total upward reestimate outlays ................................... ................... 506 ................... Direct loan downward reestimate subsidy budget authority: 137001 Direct Disaster Loans .................................................... ¥384 ................... ................... ¥384 ................... ................... 137901 Total downward reestimate budget authority ............... Direct loan downward reestimate subsidy outlays: 138001 Direct Disaster Loans .................................................... ¥384 ................... ................... 138901 Total downward reestimate subsidy outlays ................. ¥384 ................... ................... Administrative expense data: 351001 Budget authority ............................................................ 351001 Budget authority for terrorists attack ........................... 359001 Outlays from new authority ........................................... 359001 Outlays from new authority for terrorist attack ............ 112 126 122 40 ................... ................... 108 122 118 1 39 ................... As required by the Federal Credit Reform Act of 1990, as amended, this account records, for loans made pursuant to section 7(b) of the Small Business Act, as amended, the subsidy costs associated with the direct loans obligated in 1992 and beyond (including modifications of direct loans or loan guarantees that resulted from obligations or commitments in any year), as well as administrative expenses of this program. The subsidy amounts are estimated on a present value basis; the administrative expenses are estimated on a cash basis. Disaster loans made pursuant to Section 7(b) of the Small Business Act are the primary form of Federal assistance for non-farm, private sector disaster losses. For this reason, the program is the only form of SBA assistance not limited to small businesses. Through this program, SBA helps homeowners, renters, businesses of all sizes, and non-profit organizations pay for the cost of rebuilding. Pursuant to the Small Business Act, the government subsidizes borrowers who have incurred uninsured losses or economic injury as the result of a natural disaster. For 2003, SBA will rely on anticipated carry-over balances of $25 million from 2002 plus $10 million in recoveries to support $795 million in loans. The subsidy rate is 13.98 percent. Object Classification (in millions of dollars) 2001 actual Identification code 73–1152–0–1–453 2002 est. 2003 est. 872 4 PO 00000 2002 est. 2003 est. 12.1 25.2 41.0 Civilian personnel benefits ............................................ Other services ................................................................ Grants, subsidies, and contributions ............................ 8 128 153 8 168 735 7 115 114 99.9 2001 actual Direct loan levels supportable by subsidy budget authority: 115001 Direct Disaster Loans .................................................... 115001 Direct loan levels ¥terrorist attack ............................. 917 194 239 Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars) Identification code 73–1152–0–1–453 876 Total new obligations ................................................ 289 911 236 593 545 324 ................... Frm 00008 Fmt 3616 Sfmt 3643 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA SMALL BUSINESS ADMINISTRATION 1263 Repayments: Repayments and prepayments .................................. Proceeds from loan asset sales to the public or discounted ............................................................. Adjustments: Discount on loan asset sales to the public or discounted ................................................. Write-offs for default: Direct loans ............................... 1290 Outstanding, end of year .......................................... DISASTER DIRECT LOAN FINANCING ACCOUNT 1251 1252 Program and Financing (in millions of dollars) 2001 actual Identification code 73–4150–0–3–453 Obligations by program activity: 00.01 Direct loans .................................................................... 00.02 Interest on Treasury borrowing ...................................... 00.91 08.02 08.03 2002 est. 606 494 1,090 465 2003 est. 1,110 505 08.06 Direct Program by Activities—Subtotal (1 level) Payment of downward reestimate to receipt account Payment to liquidating account to purchase loan assets (73 4153) .......................................................... Payment of interest on downward reestimates to receipt account ............................................................. Gainsharing to salaries and expense ............................ 08.91 Direct Program by Activities—Subtotal (1 level) 483 128 119 10.00 Total new obligations ................................................ 1,583 1,683 4,651 3,353 5,677 ................... 3,785 3,556 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New financing authority (gross) .................................... Resources available from recoveries of prior year obligations ....................................................................... 22.60 Portion applied to repay debt ........................................ 21.40 22.00 22.10 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 1,100 1,555 1,615 282 ................... ................... 1262 1,734 08.04 96 128 116 102 ................... ................... 3 ................... 3 50 ................... ................... ¥794 ¥7,779 ¥1,822 7,260 1,683 1,734 ¥1,583 ¥1,683 ¥1,734 5,677 ................... ................... 1,145 1,035 2,750 2,873 70.00 Total new financing authority (gross) ...................... 3,353 3,785 3,556 72.40 73.10 73.20 73.45 74.40 87.00 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total financing disbursements (gross) ......................... Recoveries of prior year obligations .............................. Obligated balance, end of year ..................................... Total financing disbursements (gross) ......................... ¥235 ¥95 ¥559 ¥1,863 ¥2,208 ¥2,750 ¥2,873 ¥1,863 ¥311 ¥213 ¥313 ¥40 ¥319 ¥41 3,288 3,057 1,664 Total assets ........................................ LIABILITIES: Federal liabilities: 2101 Accounts payable ................................ 2103 Debt ..................................................... Non-Federal liabilities: 2201 Accounts payable ................................ 2207 Other ................................................... 2001 actual 5,072 6,791 3,259 3,000 1,094 376 506 517 5,212 –931 3,288 –150 2,542 –651 1,233 –75 4,281 3,138 1,891 1,158 10,447 10,305 5,656 4,675 10,447 .................. 605 9,649 333 5,294 375 4,275 .................. .................. 28 23 16 13 15 10 2002 est. 2003 est. 2999 Total liabilities .................................... 10,447 10,305 5,656 4,675 4999 Total liabilities and net position ............ 10,447 10,305 5,656 4,675 Program and Financing (in millions of dollars) ¥224 ¥121 ¥347 ................... ¥159 ................... 2001 actual Identification code 73–4153–0–3–453 1,145 ¥872 1,035 ¥1,180 683 ¥1,023 2003 est. Obligations by program activity: Interest expense to Treasury .......................................... Other expenses ............................................................... 22 14 11 19 6 21 10.00 Total new obligations ................................................ 36 30 27 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority from offsetting collections (gross) ....................................................................... 22.40 Capital transfer to general fund ................................... 23.90 23.95 24.40 2002 est. 2002 est. 01.01 01.03 21.40 22.00 2001 actual ¥1,091 DISASTER LOAN FUND LIQUIDATING ACCOUNT Status of Direct Loans (in millions of dollars) Identification code 73–4150–0–3–453 ¥751 f ¥391 ¥87 ¥451 ¥1,091 Net financing authority and financing disbursements: 89.00 Financing authority ........................................................ 90.00 Financing disbursements ............................................... Net present value of assets related to direct loans ........................... 1999 Offsets: Against gross financing authority and financing disbursements: Offsetting collections (cash) from: Federal sources: 88.00 Payments from program account ..................... ¥125 88.00 upward reestimate ........................................... ................... 88.00 Interest on upward reestimate ......................... ................... Non-Federal sources: 88.40 Repayments of principal, net ........................... ¥962 88.40 Collection of misc. receivables ........................ ¥63 88.40 Interest received on loans ................................ ¥307 88.40 Proceeds from loan sales ................................. ¥751 Total, offsetting collections (cash) .................. ¥146 2000 actual ASSETS: Federal assets: 1101 Fund balances with Treasury ............. Investments in US securities: 1106 Interest/Accounts Receivables ....... Net value of assets related to post– 1991 direct loans receivable: 1401 Direct loans receivable, gross ............ 1405 Allowance for subsidy cost (–) ........... 1499 422 619 732 1,583 1,683 1,734 ¥1,336 ¥1,570 ¥1,850 ¥50 ................... ................... 619 732 616 1,336 1,570 1,850 ¥121 Balance Sheet (in millions of dollars) 683 2,208 ¥1,332 As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from direct loans obligated in 1992 and beyond (including modifications of direct loans that resulted from obligations in any year). The amounts in this account are a means of financing and are not included in the budget totals. Identification code 73–4150–0–3–453 New financing authority (gross), detail: Discretionary: 47.00 Authority to borrow .................................................... 68.00 Spending authority from offsetting collections: Offsetting collections (cash) .............................................. 88.90 1061 Federal Funds—Continued Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 246 338 ¥240 308 ................... 185 ¥463 169 ¥142 344 30 27 ¥36 ¥30 ¥27 308 ................... ................... 2003 est. Position with respect to appropriations act limitation on obligations: 1111 Limitation on direct loans ............................................. ................... ................... ................... 1131 Direct loan obligations exempt from limitation ............ 951 1,272 795 New budget authority (gross), detail: Mandatory: 69.00 Offsetting collections (cash) ..................................... 338 185 169 1150 72.40 73.10 73.20 74.40 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Obligated balance, end of year ..................................... 44 36 ¥54 26 26 30 ¥30 26 26 27 ¥27 26 86.97 Outlays (gross), detail: Outlays from new mandatory authority ......................... 54 30 27 Total direct loan obligations ..................................... Cumulative balance of direct loans outstanding: Outstanding, start of year ............................................. Disbursements: 1231 Direct loan disbursements ........................................ 1233 Purchase of loans assets from a liquidating account ..................................................................... 1210 VerDate 11-MAY-2000 14:59 Jan 23, 2002 Jkt 189685 951 1,272 795 5,212 3,288 3,057 587 1,206 860 96 128 116 PO 00000 Frm 00009 Fmt 3616 Sfmt 3643 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA 1062 THE BUDGET FOR FISCAL YEAR 2003 Federal Funds—Continued 2207 Other ................................................... .................. 4 44 17 DISASTER LOAN FUND LIQUIDATING ACCOUNT—Continued 2999 Total liabilities .................................... 1,029 595 208 73 Program and Financing (in millions of dollars)—Continued 4999 Total liabilities and net position ............ 1,029 595 208 73 Credit accounts—Continued 2001 actual Identification code 73–4153–0–3–453 2002 est. 2003 est. Object Classification (in millions of dollars) Offsets: Against gross budget authority and outlays: Offsetting collections (cash) from: Non-Federal sources: 88.40 Asset Sale Proceeds ......................................... 88.40 Loan repayments .............................................. 88.40 Interest income ................................................. 88.40 Other income .................................................... 88.40 Other collection of Principal ............................ ¥96 ¥128 ¥116 ¥76 ¥34 ¥30 ¥20 ¥1 ¥1 ¥8 ................... ................... ¥138 ¥22 ¥22 88.90 ¥338 89.00 90.00 Total, offsetting collections (cash) .................. ¥185 ¥169 2001 actual Cumulative balance of direct loans outstanding: Outstanding, start of year ............................................. Repayments: 1251 Repayments and prepayments .................................. 1252 Proceeds from loan asset sales to the public or discounted ............................................................. 1262 Adjustments: Discount on loan asset sales to the public or discounted ................................................. 1263 Write-offs for default: Direct loans ............................... 1290 Outstanding, end of year .......................................... 2002 est. 685 248 116 ¥76 ................... ................... ¥96 ¥128 ¥116 ¥128 ¥4 ................... ¥137 ................... ................... 248 116 ................... 2000 actual 2001 actual 0101 0102 Revenue ................................................... Expense .................................................... 54 –44 2 –82 3 –57 5 –50 0105 Net income or loss (–) ............................ 10 –80 –54 –45 2002 est. 1901 Value of assets related to direct loans .......................................... Other Federal assets: Other assets ........ 1999 Total assets ........................................ LIABILITIES: Federal liabilities: 2102 Interest payable .................................. 2105 Other ................................................... Non-Federal liabilities: 2201 Accounts payable ................................ VerDate 11-MAY-2000 14:59 Jan 23, 2002 21 6 99.9 Total new obligations ................................................ 36 30 27 f POLLUTION CONTROL EQUIPMENT FUND LIQUIDATING ACCOUNT Program and Financing (in millions of dollars) 2001 actual Identification code 73–4147–0–3–376 2002 est. 2003 est. Obligations by program activity: Direct program ............................................................... ................... 3 2 Total new obligations (object class 42.0) ................ ................... 3 2 21.40 22.00 22.40 23.90 23.95 24.40 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Capital transfer to general fund ................................... 2 3 ¥2 3 ................... 3 3 ¥3 ................... Total budgetary resources available for obligation 3 3 3 Total new obligations .................................................... ................... ¥3 ¥2 Unobligated balance carried forward, end of year ....... 3 ................... ................... New budget authority (gross), detail: Mandatory: 60.00 Appropriation ............................................................. 3 3 3 73.10 73.20 Change in obligated balances: Total new obligations .................................................... ................... Total outlays (gross) ...................................................... ................... 3 ¥3 2 ¥2 86.97 Outlays (gross), detail: Outlays from new mandatory authority ......................... ................... 3 2 Net budget authority and outlays: Budget authority ............................................................ 3 Outlays ........................................................................... ................... 3 3 3 2 Status of Guaranteed Loans (in millions of dollars) 2001 actual Identification code 73–4147–0–3–376 2002 est. 2003 est. Cumulative balance of guaranteed loans outstanding: Outstanding, start of year ............................................. 39 16 9 Repayments and prepayments ...................................... ¥17 ¥7 ¥4 Adjustments: 2261 Terminations for default that result in loans receivable ....................................................................... ................... ................... ................... 2264 Other adjustments, net ............................................. ¥6 ................... ................... 2210 2251 2000 actual 2001 actual 290 101 36 9 2002 est. 2003 est. 1101 1699 19 11 2003 est. Balance Sheet (in millions of dollars) ASSETS: Federal assets: Fund balances with Treasury ............................................... 1206 Non-Federal assets: Receivables, net ..... Net value of assets related to pre–1992 direct loans receivable and acquired defaulted guaranteed loans receivable: 1601 Direct loans, gross .............................. 1603 Allowance for estimated uncollectible loans and interest (–) .................... 14 22 89.00 90.00 Statement of Operations (in millions of dollars) Identification code 73–4153–0–3–453 Other services ................................................................ Interest and dividends ................................................... 10.00 2003 est. As required by the Federal Credit Reform Act of 1990, as amended, this account records, for this program, all cash flows to and from the Government resulting from direct loans obligated prior to 1992. This account is shown on a cash basis. All new activity in this program in 1992 and beyond (including modifications of direct loans or loan guarantees that resulted from obligations or commitments in any year) is recorded in corresponding program and financing accounts. Identification code 73–4153–0–3–453 2003 est. 00.01 Status of Direct Loans (in millions of dollars) 1210 2002 est. 25.2 43.0 Net budget authority and outlays: Budget authority ............................................................ ................... ................... ................... Outlays ........................................................................... ¥284 ¥155 ¥142 Identification code 73–4153–0–3–453 2001 actual Identification code 73–4153–0–3–453 20 1 2290 Outstanding, end of year .......................................... 16 9 5 2299 27 3 Memorandum: Guaranteed amount of guaranteed loans outstanding, end of year ................................................................ 16 9 5 685 248 116 .................. –47 –18 –4 .................. Addendum: Cumulative balance of defaulted guaranteed loans that result in loans receivable: 2310 Outstanding, start of year ........................................ 49 49 49 2331 Disbursements for guaranteed loan claims ............. ................... ................... ................... 638 .................. 230 320 112 66 .................. 52 2390 1,029 595 208 73 39 .................. 22 565 11 141 5 45 990 4 12 6 PO 00000 Frm 00010 Fmt 3616 Jkt 189685 Outstanding, end of year ...................................... 49 49 49 Public Law 94–305 established this fund to alleviate the adverse impact of pollution regulations on small businesses. As a result of the elimination of tax exempt financing associated with the Pollution Control Guaranteed program, no new activity is anticipated for this program. Sfmt 3616 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA SMALL BUSINESS ADMINISTRATION ADMINISTRATIVE PROVISION—SMALL BUSINESS ADMINISTRATION Statement of Operations (in millions of dollars) Identification code 73–4147–0–3–376 2000 actual 2001 actual 2002 est. 2003 est. 0102 Expense .................................................... 1 .................. –2 –2 0105 Net income or loss (–) ............................ 1 .................. –2 –2 Balance Sheet (in millions of dollars) Identification code 73–4147–0–3–376 ASSETS: 1101 Federal assets: Fund balances with Treasury ............................................... 1206 Non-Federal assets: Receivables, net ..... 1701 Net value of assets related to pre–1992 direct loans receivable and acquired defaulted guaranteed loans receivable: Defaulted guaranteed loans, gross ................................................... 1999 2000 actual 2001 actual 2002 est. 2003 est. 2 .................. 3 .................. 3 .................. Not to exceed 5 percent of any appropriation made available for the current fiscal year for the Small Business Administration in this Act may be transferred between such appropriations, but no such appropriation shall be increased by more than 10 percent by any such transfers: Provided, That any transfer pursuant to this paragraph shall be treated as a reprogramming of funds under section 605 of this Act and shall not be available for obligation or expenditure except in compliance with the procedures set forth in that section. (Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2002.) 2 .................. f GENERAL FUND RECEIPT ACCOUNTS (in millions of dollars) 17 16 13 15 2001 actual Total assets ........................................ LIABILITIES: 2104 Federal liabilities: Resources payable to Treasury ............................................... 19 19 16 17 19 19 16 17 2999 Total liabilities .................................... 19 19 16 17 Offsetting receipts from the public: 73–272130 Disaster loan program, Downward reestimates of subsidies ........................................................................ 73–272230 Business loan program, Downward reestimates of subsidies ............................................................. 4999 Total liabilities and net position ............ 19 19 16 17 General Fund Offsetting receipts from the public ..................... PO 00000 Frm 00011 Fmt 3616 VerDate 11-MAY-2000 14:59 Jan 23, 2002 1063 Federal Funds—Continued Jkt 189685 Sfmt 3643 E:\BUDGET\SBA.XXX pfrm11 PsN: SBA 2002 est. 2003 est. 384 ................... ................... 722 366 ................... 1,106 366 ...................
@FedFRASER