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SMALL BUSINESS ADMINISTRATION For 2004, the Small Business Administration (SBA) budget requests $797.9 million in new budget authority. SBA’s continuing operations will provide over $20 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 68.00 Spending authority from offsetting collections: Offsetting collections (cash) .............................................. 291 255 252 70.00 Total new budget authority (gross) .......................... 632 608 612 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 ............................. 499 129 449 116 450 157 87.00 Total outlays (gross) ................................................. 628 565 607 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 ¥157 ¥4 ¥3 ¥129 ¥121 ¥2 ¥3 ¥129 ¥118 ¥2 ¥3 88.90 ¥293 ¥255 ¥252 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, $360,155,000: 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 2004 or fiscal year 2005 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. Note.—A regular 2003 appropriation for this account had not been enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 107–229, as amended). The amounts included for 2003 in this budget reflect the Administration’s 2003 policy proposals. 88.96 Program and Financing (in millions of dollars) 89.00 90.00 2002 actual Identification code 73–0100–0–1–376 2003 est. 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 ........................................................................... 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 ................................... 31 121 111 4 8 1 1 3 5 2 32 134 114 4 8 1 1 3 7 1 32 108 116 5 9 1 1 3 8 1 2 140 9 55 116 1 1 2 150 9 79 115 2 1 2 152 9 48 114 2 1 10.00 Total new obligations ................................................ 611 663 612 21.40 22.00 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ 41 632 56 608 1 612 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 ....... 673 664 613 ¥611 ¥663 ¥612 ¥6 ................... ................... 56 1 1 New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 42.00 Transferred from other accounts .............................. 338 353 360 3 ................... ................... 43.00 341 99.00 99.01 16:36 Jan 23, 2003 Jkt 193833 PO 00000 341 334 353 310 360 355 Additional net budget authority and outlays to cover cost of fully accruing retirement: Budget authority ............................................................ 9 9 Outlays ........................................................................... 9 9 353 Object Classification (in millions of dollars) Fmt 3616 2002 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 25.3 25.3 26.0 31.0 41.0 Personnel compensation: Full-time permanent .................................................. Other than full-time permanent ............................... Other personnel compensation .................................. 179 8 4 2003 est. 2004 est. 192 8 3 200 8 3 Total personnel compensation .............................. 191 203 211 Civilian personnel benefits ............................................ 45 50 49 Travel and transportation of persons ............................ 4 5 4 Transportation of things ................................................ ................... 3 ................... Rental payments to GSA ................................................ 31 32 36 Communications, utilities, and miscellaneous charges 4 4 6 Printing and reproduction .............................................. 1 1 1 Other services ................................................................ 42 72 67 Other purchases of goods and services from Government accounts: Other purchases of goods and services from Government accounts (disaster loan making) ........... 94 104 80 Other purchases of goods and services from Government accounts (disaster loan serv) ................ 27 30 28 Supplies and materials ................................................. 2 ................... ................... Equipment ...................................................................... 2 ................... ................... Grants, subsidies, and contributions ............................ 168 159 130 Total new obligations ................................................ 611 663 360 Frm 00001 9 9 The appropriation for this account is necessary to cover the administrative expenses for headquarters and non-credit programs. 99.9 Appropriation (total discretionary) ........................ 2 ................... ................... 2004 est. 00.01 VerDate Dec 13 2002 311 292 390 611 663 612 ¥628 ¥565 ¥607 ¥3 ................... ................... 292 390 395 Sfmt 3643 E:\BUDGET\SBA.XXX SBA 983 612 984 THE BUDGET FOR FISCAL YEAR 2004 Federal Funds—Continued General and special funds—Continued SALARIES Object Classification (in millions of dollars) EXPENSES—Continued AND 2002 actual Identification code 73–0100–0–1–376 1001 Total compensable workyears: Civilian full-time equivalent employment ...................................................... 2003 est. 3,843 2002 actual Identification code 73–0200–0–1–376 Personnel Summary 2004 est. 11.1 11.5 2004 est. 3,802 2003 est. 3,802 Note.—The personnel summary includes regular (non-disaster) full-time equivalents (FTEs) of 2761, 2634, and 2634 in 2002, 2003, and 2004 respectively. Personnel compensation: Full-time permanent .................................................. Other personnel compensation .................................. 8 1 9 1 9 1 11.9 12.1 25.1 Total personnel compensation .............................. Civilian personnel benefits ............................................ Advisory and assistance services .................................. 9 2 1 10 2 3 10 2 3 99.9 Total new obligations ................................................ 12 15 15 f Personnel Summary OFFICE OF INSPECTOR GENERAL 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.), $14,500,000. Note.—A regular 2003 appropriation for this account had not been enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 107–229, as amended). The amounts included for 2003 in this budget reflect the Administration’s 2003 policy proposals. 1001 Total compensable workyears: Civilian full-time equivalent employment ...................................................... 2002 actual 00.01 00.02 00.03 00.04 10.00 Obligations by program activity: General Office ................................................................ Audit ............................................................................... Investigations ................................................................. Management / Legal Counsel / Inspection and Evaluation ........................................................................ Total new obligations ................................................ 108 2003 est. 2004 est. 125 125 f Public enterprise funds: SURETY BOND GUARANTEES REVOLVING FUND Program and Financing (in millions of dollars) Identification code 73–0200–0–1–376 2002 actual Identification code 73–0200–0–1–376 2003 est. Program and Financing (in millions of dollars) 2004 est. 2002 actual Identification code 73–4156–0–3–376 2003 est. 2004 est. 1 5 5 1 6 7 1 6 7 09.01 Obligations by program activity: Reimbursable obligations .............................................. 6 9 11 1 1 1 10.00 Total new obligations (object class 42.0) ................ 6 9 11 12 15 15 21.40 22.00 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ 26 6 26 6 23 7 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 32 ¥6 26 32 ¥9 23 30 ¥11 20 New budget authority (gross), detail: Discretionary: 68.00 Spending authority from offsetting collections (gross): Offsetting collections (cash) ................... 6 6 7 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 6 ¥6 1 1 9 ¥9 1 1 11 ¥10 1 86.90 86.93 Outlays (gross), detail: Outlays from new discretionary authority ..................... 6 Outlays from discretionary balances ............................. ................... 6 3 7 3 Budgetary resources available for obligation: 22.00 New budget authority (gross) ........................................ 23.95 Total new obligations .................................................... 12 ¥12 15 ¥15 15 ¥15 New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 68.00 Spending authority from offsetting collections: Offsetting collections (cash) .............................................. 11 14 14 1 1 1 70.00 12 15 15 Total new budget authority (gross) .......................... Change in obligated balances: 73.10 Total new obligations .................................................... 73.20 Total outlays (gross) ...................................................... 86.90 86.93 87.00 15 ¥14 15 ¥15 Outlays (gross), detail: Outlays from new discretionary authority ..................... 12 14 Outlays from discretionary balances ............................. ................... ................... 14 1 Total outlays (gross) ................................................. 12 ¥12 12 14 15 Offsets: Against gross budget authority and outlays: 88.00 Offsetting collections (cash) from: Payments from disaster loan program account ............................ ¥1 ¥1 ¥1 Net budget authority and outlays: 89.00 Budget authority ............................................................ 90.00 Outlays ........................................................................... 11 13 14 13 14 14 99.00 99.01 Additional net budget authority and outlays to cover cost of fully accruing retirement: Budget authority ............................................................ 1 1 Outlays ........................................................................... 1 1 1 1 The budget proposes $14.5 million in new budget authority and $500 thousand transferred from the Disaster Loans Program account for a total of $15.0 million for the Office of Inspector General (OIG) for 2004. 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. VerDate Dec 13 2002 16:36 Jan 23, 2003 Jkt 193833 PO 00000 Frm 00002 Fmt 3616 87.00 Total outlays (gross) ................................................. 6 9 10 Offsets: Against gross budget authority and outlays: 88.40 Offsetting collections (cash) from: Non-Federal sources .................................................................. ¥6 ¥6 ¥7 89.00 90.00 Net budget authority and outlays: Budget authority ............................................................ ................... ................... ................... Outlays ........................................................................... ¥1 3 3 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 2004, 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. Sfmt 3616 E:\BUDGET\SBA.XXX SBA SMALL BUSINESS ADMINISTRATION 22.00 Statement of Operations (in millions of dollars) 2001 actual Identification code 73–4156–0–3–376 2002 actual 2003 est. 2004 est. 0101 0102 Revenue ................................................... Expense .................................................... 3 –10 6 –6 6 –9 7 –11 0105 Net income or loss (–) ............................ –7 .................. –3 –4 New budget authority (gross) ........................................ 370 911 226 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 424 ¥351 73 984 ¥911 73 299 ¥227 72 2001 actual 2002 actual 2003 est. 2004 est. New budget authority (gross), detail: Discretionary: Appropriation: 40.00 Appropriation ......................................................... 40.00 Appropriation (terrorism) ...................................... 40.36 Unobligated balance rescinded ................................. 209 218 226 75 ................... ................... ¥6 ................... ................... 43.00 Balance Sheet (in millions of dollars) Identification code 73–4156–0–3–376 985 Federal Funds—Continued 278 ASSETS: Federal assets: 1101 Fund balances with Treasury ............. Investments in US securities: 1106 Receivables, net ............................. 26 27 25 24 60.00 Appropriation (total discretionary) ........................ Mandatory: Appropriation ............................................................. 6 5 5 6 70.00 Total new budget authority (gross) .......................... 370 911 226 1999 32 32 30 30 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 ..................................... 93 351 ¥346 98 98 911 ¥933 78 78 227 ¥223 82 86.90 86.93 86.97 Outlays (gross), detail: Outlays from new discretionary authority ..................... Outlays from discretionary balances ............................. Outlays from new mandatory authority ......................... 146 108 92 137 142 103 81 693 ................... 87.00 Total outlays (gross) ................................................. 346 933 223 89.00 90.00 Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 370 346 911 933 226 223 Total assets ........................................ LIABILITIES: 2201 Non-Federal liabilities: Accounts payable 14 16 17 15 2999 14 16 17 15 293 –275 289 –273 332 –319 333 –318 Total liabilities .................................... NET POSITION: 3100 Appropriated capital ................................ 3300 Cumulative results of operations ............ 3999 Total net position ................................ 18 16 13 15 4999 Total liabilities and net position ............ 32 32 30 92 218 226 693 ................... 30 f Credit accounts: BUSINESS LOANS PROGRAM ACCOUNT For the cost of direct loans, $1,910,000, to be available until expended; and for the cost of guaranteed loans, $94,860,000, as authorized by 15 U.S.C. 631 note, of which $45,000,000 shall remain available until September 30, 2005: 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 2004 commitments to guarantee loans under section 503 of the Small Business Investment Act of 1958, as amended (the Act), shall not exceed $4,500,000,000: Provided further, That during fiscal year 2004 commitments to guarantee loans for debentures and participating securities under section 303(b) of the Act shall not exceed the levels established by section 20(i)(1)(C) of the Small Business Act: Provided further, That during fiscal year 2004 guarantees of trust certificates authorized by section 5(g) of the Small Business Act shall not exceed a principal amount of $10,000,000,000. In addition, for administrative expenses to carry out the direct and guaranteed loan programs, $129,000,000, which may be transferred to and merged with the appropriations for Salaries and Expenses. Note.—A regular 2003 appropriation for this account had not been enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 107–229, as amended). The amounts included for 2003 in this budget reflect the Administration’s 2003 policy proposals. General Fund Credit Receipt Accounts (in millions of dollars) 2002 actual Identification code 73–1154–0–1–376 0102 Negative subsidies/subsidy reestimates ....................... 2003 est. 389 2004 est. 258 ................... Program and Financing (in millions of dollars) 2002 actual Identification code 73–1154–0–1–376 00.01 00.02 00.05 00.06 00.07 00.08 00.09 Obligations by program activity: Direct loan subsidy ........................................................ 1 Guaranteed loan subsidy ............................................... 129 Reestimate of direct loan .............................................. 1 Interest on direct loan reestimation .............................. ................... Reestimate of loan guarantee subsidy ......................... 72 Interest on reestimates of loan guarantee subsidy 19 Administrative expenses ................................................ 129 2003 est. 2004 est. 4 85 2 2 526 163 129 3 95 ................... ................... ................... ................... 129 10.00 Total new obligations ................................................ 351 911 227 21.40 Budgetary resources available for obligation: Unobligated balance carried forward, start of year 54 73 73 Frm 00003 Fmt 3616 VerDate Dec 13 2002 16:36 Jan 23, 2003 Jkt 193833 PO 00000 99.00 99.01 Additional net budget authority and outlays to cover cost of fully accruing retirement: Budget authority ............................................................ 4 4 Outlays ........................................................................... 4 4 4 4 Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars) 2002 actual Identification code 73–1154–0–1–376 Direct loan levels supportable by subsidy budget authority: 115001 Micro loans .................................................................... 2003 est. 2004 est. 16 27 20 16 27 20 6.78 13.05 9.55 132901 Weighted average subsidy rate ..................................... Direct loan subsidy budget authority: 133001 Micro loans .................................................................... 6.78 13.05 9.55 1 4 2 133901 Total subsidy budget authority ...................................... Direct loan subsidy outlays: 134001 Micro loans .................................................................... 1 4 2 1 2 1 134901 Total subsidy outlays ..................................................... Direct loan upward reestimate subsidy budget authority: 135001 Micro loans .................................................................... 1 2 1 1 4 ................... 135901 Total upward reestimate budget authority .................... Direct loan upward reestimate subsidy outlays: 136001 Micro loans .................................................................... 1 4 ................... 1 4 ................... 1 4 ................... ¥4 ¥2 ................... 137901 Total downward reestimate budget authority ............... Direct loan downward reestimate subsidy outlays: 138001 Micro loans .................................................................... ¥4 ¥2 ................... ¥4 ¥2 ................... 138901 Total downward reestimate subsidy outlays ................. ¥4 ¥2 ................... Guaranteed loan levels supportable by subsidy budget authority: 215001 Microloan guarantees .................................................... 215002 General business—7(a) ................................................ 215002 General business—7(a)¥terrorist response ................ 215003 General business—7(a) DELTA ..................................... 215004 Section 504 .................................................................... 2 9,287 1,779 1 2,467 2 2 4,850 9,300 2,544 ................... 20 ................... 4,500 4,500 115901 Total direct loan levels .................................................. Direct loan subsidy (in percent): 132001 Micro loans .................................................................... 136901 Total upward reestimate outlays ................................... Direct loan downward reestimate subsidy budget authority: 137001 Micro loans .................................................................... Sfmt 3643 E:\BUDGET\SBA.XXX SBA 986 THE BUDGET FOR FISCAL YEAR 2004 Federal Funds—Continued 238002 238003 238004 238005 238006 238007 Credit accounts—Continued BUSINESS LOANS PROGRAM ACCOUNT—Continued Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)—Continued 2002 actual Identification code 73–1154–0–1–376 215005 215006 215007 215008 215009 2003 est. 2004 est. Section 504 DELTA ......................................................... ................... 3 ................... SBIC debentures ............................................................ 411 3,000 3,000 SBIC participating securities ......................................... 1,300 4,000 4,000 New Market Venture Capital .......................................... 19 64 ................... 7(a) secondary market ................................................... ................... ................... ................... 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 7(a) secondary market ................................................... 15,266 18,983 8.42 1.76 1.78 2.40 0.00 0.88 0.00 0.00 15.46 0.00 8.66 1.02 0.00 1.56 0.00 0.86 0.00 0.00 16.05 66.04 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 .......................................... 233009 7(a) secondary market ................................................... 0.86 0.45 0.46 ................... 99 30 ................... ................... ................... ................... ................... 3 ................... ................... 85 ................... ................... ................... ................... ................... ................... ................... ................... ................... 95 ................... ................... ................... ................... ................... ................... ................... ................... 132 85 95 ................... 96 24 1 ................... ................... ................... ................... 3 ................... ................... 81 16 1 ................... ................... ................... ................... 9 ................... ................... 86 ................... 1 ................... ................... ................... ................... 7 ................... 238901 Total downward reestimate subsidy outlays ................. ¥384 ¥256 ................... Administrative expense data: 351001 Budget authority ............................................................ 129 129 129 358001 Outlays from balances ................................................... ................... ................... ................... 359001 Outlays from new authority ........................................... 129 129 129 20,802 8.17 1.07 1.67 1.73 0.00 0.84 0.00 0.00 14.47 0.00 General business—7(a) ................................................ ¥182 ¥158 ................... General business—7(a) DELTA ..................................... ................... ................... ................... Section 504 .................................................................... ¥112 ¥10 ................... Section 504 DELTA ......................................................... ................... ................... ................... SBIC debentures ............................................................ ¥52 ¥34 ................... SBIC participating securities ......................................... ¥38 ¥54 ................... 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 .......................................... 234009 7(a) secondary market ................................................... 234901 Total subsidy outlays ..................................................... 124 107 94 Guaranteed loan upward reestimate subsidy budget authority: 235001 Microloan guarantees .................................................... ................... ................... ................... 235002 General business—7(a) ................................................ 5 189 ................... 235003 General business—7(a) DELTA ..................................... ................... ................... ................... 235004 Section 504 .................................................................... 23 146 ................... 235005 Section 504 DELTA ......................................................... ................... ................... ................... 235006 SBIC debentures ............................................................ 10 27 ................... 235007 SBIC participating securities ......................................... 53 327 ................... 235901 Total upward reestimate budget authority .................... 91 689 ................... Guaranteed loan upward reestimate subsidy outlays: 236001 Microloan guarantees .................................................... ................... ................... ................... 236002 General business—7(a) ................................................ 5 189 ................... 236003 General business—7(a) DELTA ..................................... ................... ................... ................... 236004 Section 504 .................................................................... 23 146 ................... 236005 Section 504 DELTA ......................................................... ................... ................... ................... 236006 SBIC debentures ............................................................ 10 27 ................... 236007 SBIC participating securities ......................................... 53 327 ................... 236901 Total upward reestimate subsidy outlays ..................... 91 689 ................... Guaranteed loan downward reestimate subsidy budget authority: 237001 Microloan guarantees .................................................... ................... ................... ................... 237002 General business—7(a) ................................................ ¥182 ¥158 ................... 237003 General business—7(a) DELTA ..................................... ................... ................... ................... 237004 Section 504 .................................................................... ¥112 ¥10 ................... 237005 Section 504 DELTA ......................................................... ................... ................... ................... 237006 SBIC debentures ............................................................ ¥52 ¥34 ................... 237007 SBIC participating securities ......................................... ¥38 ¥54 ................... 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 2004, the budget proposes $225.8 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 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 2004 is $9.3 billion. The Section 504 CDC Program is for long-term fixed rate financing and will require a program level of $4.5 billion in 2004. 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. The Master Reserve Fund (MRF) is maintained by the SBA’s fiscal agent as part of its Administration of the 7(a) secondary market program. The MRF provides for the pooling of loans having terms that vary with a range prescribed by SBA, while the secondary investors have a fixed term for their investment that is the term of the longest loan in the pool. The balances include the principal portion of the borrowers’ first payment for pooled loans and float on borrowers’ payments received prior to their disbursement to the secondary holders. The earnings on the balances are used to fund the SBA’s guarantee of the timely payment of principal and interest owed to the 7(a) secondary market holders and to pay expenses of the MRF trustee and investment advisor. To improve financial management of the MRF, SBA will budget for the 7(a) secondary market program in accordance with the Federal Credit Reform Act. SBA will refine its subsidy estimates and account for loans in both financing and liquidating accounts. The 7(a) secondary market has approximately $12 billion of currently outstanding investments held by 7(a) secondary holders. Object Classification (in millions of dollars) 2002 actual Identification code 73–1154–0–1–376 16:36 Jan 23, 2003 Jkt 193833 PO 00000 Frm 00004 Fmt 3616 2004 est. 25.2 41.0 Other services ................................................................ Grants, subsidies, and contributions ............................ 129 222 129 782 129 98 99.9 Total new obligations ................................................ 351 911 227 237901 Total downward reestimate subsidy budget authority ¥384 ¥256 ................... Guaranteed loan downward reestimate subsidy outlays: 238001 Microloan guarantees .................................................... ................... ................... ................... VerDate Dec 13 2002 2003 est. Sfmt 3643 E:\BUDGET\SBA.XXX SBA SMALL BUSINESS ADMINISTRATION BUSINESS DIRECT LOAN FINANCING ACCOUNT Program and Financing (in millions of dollars) 2002 actual Identification code 73–4148–0–3–376 00.01 00.02 Obligations by program activity: Direct loans .................................................................... Interest on Treasury borrowing ...................................... 2003 est. 2004 est. 1210 1231 1251 1263 Cumulative balance of direct loans outstanding: Outstanding, start of year ............................................. 107 Disbursements: Direct loan disbursements ................... 25 Repayments: Repayments and prepayments ................. ¥13 Write-offs for default: Direct loans ............................... ................... 1290 16 29 27 35 Direct Program by Activities—Subtotal (1 level) Payment of downward reestimate to a receipt account Payment of interest on downward reestimate to a receipt account .......................................................... 45 3 62 53 1 ................... 1 1 ................... 08.91 Direct Program by Activities—Subtotal (1 level) 4 2 ................... 10.00 Total new obligations ................................................ 49 00.91 08.02 08.04 987 Federal Funds—Continued 64 20 33 Outstanding, end of year .......................................... 119 18 ¥10 ¥5 122 119 122 19 ¥11 ¥6 124 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. 53 Balance Sheet (in millions of dollars) Budgetary resources available for obligation: 21.40 Unobligated balance carried forward, start of year 22.00 New financing authority (gross) .................................... 22.10 Resources available from recoveries of prior year obligations ....................................................................... 22.60 Portion applied to repay debt ........................................ 3 ................... ................... ¥17 ¥341 ¥21 23.90 23.95 24.40 358 66 53 ¥49 ¥64 ¥53 309 ................... ................... Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 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 ......... 317 55 309 ................... 98 74 24 23 17 69 75 57 ¥38 ................... ................... ASSETS: Federal assets: 1101 Fund balances with Treasury ............. Investments in US securities: 1106 Receivables, net ............................. Non-Federal assets: 1206 Receivables, net .................................. 1207 Advances and prepayments ................ Net value of assets related to post1991 direct loans receivable: 1401 Direct loans receivable, gross ............ 1405 Allowance for subsidy cost (–) ........... 1499 1504 68.90 70.00 Spending authority from offsetting collections (total discretionary) .......................................... 31 75 57 Total new financing authority (gross) ...................... 55 98 74 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total financing disbursements (gross) ......................... Recoveries of prior year obligations .............................. 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 73.45 74.00 39 23 8 49 64 53 ¥100 ¥80 ¥61 ¥3 ................... ................... 38 ................... ................... 23 8 ................... 100 80 61 Offsets: Against gross financing authority and financing disbursements: Offsetting collections (cash) from: Federal sources: 88.00 Federal sources: Payments from program account ............................................................ ¥1 ¥2 ¥1 88.00 Upward reestimate ........................................... ¥1 ¥2 ................... 88.00 Interest on reestimate ...................................... ................... ¥2 ................... 88.25 Interest on uninvested funds ............................... ¥12 ¥13 ¥14 Non-Federal sources: 88.40 Repayments of principal, net ........................... ¥16 ¥17 ¥18 88.40 Misc. fees ......................................................... ¥1 ................... ................... 88.40 Interest received on loans ................................ ¥2 ¥4 ¥3 88.40 Other income .................................................... ¥36 ¥35 ¥21 2001 actual Identification code 73–4148–0–3–376 Net present value of assets related to direct loans ........................... Net value of assets related to post1991 acquired defaulted guaranteed loans receivable: Foreclosed property 1999 Total assets ........................................ LIABILITIES: Federal liabilities: 2101 Accounts payable ................................ 2103 Debt ..................................................... 2207 Non-Federal liabilities: Other .................. 2002 actual 2003 est. 2004 est. 305 333 339 346 41 4 6 8 30 .................. 1 1 2 .................. 3 .................. 107 –3 119 –10 122 –12 124 –14 104 109 110 110 .................. .................. .................. .................. 480 448 457 467 43 437 .................. 1 443 4 3 451 3 5 459 3 2999 Total liabilities .................................... 480 448 457 467 4999 Total liabilities and net position ............ 480 448 457 467 f BUSINESS GUARANTEED LOAN FINANCING ACCOUNT Program and Financing (in millions of dollars) 2002 actual Identification code 73–4149–0–3–376 Obligations by program activity: Default claims ............................................................... Other Expenses .............................................................. 2004 est. 88.95 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 ............................................... ¥69 ¥75 23 5 17 4 Status of Direct Loans (in millions of dollars) 2002 actual Identification code 73–4148–0–3–376 2003 est. 2004 est. Position with respect to appropriations act limitation on obligations: 1111 Limitation on direct loans ............................................. 16 27 20 1150 16 27 20 Total direct loan obligations ..................................... VerDate Dec 13 2002 16:36 Jan 23, 2003 Jkt 193833 PO 00000 Frm 00005 1,390 10 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 ............................................................. 1,258 298 1,400 1,008 222 ................... 86 34 ................... 08.91 Direct Program by Activities—Subtotal (1 level) 403 256 ................... Total new obligations ................................................ 1,661 1,656 1,008 21.40 22.00 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New financing authority (gross) .................................... 136 1,708 183 1,764 292 931 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 1,844 ¥1,661 183 1,947 ¥1,656 292 1,223 ¥1,008 215 New financing authority (gross), detail: Discretionary: 47.00 Authority to borrow .................................................... Spending authority from offsetting collections: 68.00 Offsetting collections (cash) ..................................... 850 150 250 872 1,614 681 00.91 08.02 08.03 08.04 ¥57 38 ................... ................... 24 31 1,253 5 10.00 88.90 00.01 00.05 2003 est. Fmt 3616 Sfmt 3643 E:\BUDGET\SBA.XXX SBA 995 13 19 ................... ................... 988 THE BUDGET FOR FISCAL YEAR 2004 Federal Funds—Continued Credit accounts—Continued BUSINESS GUARANTEED LOAN FINANCING ACCOUNT—Continued Program and Financing (in millions of dollars)—Continued 2002 actual Identification code 73–4149–0–3–376 68.10 68.90 70.00 Change in uncollected customer payments from Federal sources (unexpired) .................................. Spending authority from offsetting collections (total discretionary) .......................................... Total new financing authority (gross) ...................... Change in obligated balances: 72.40 Obligated balance, start of year ................................... 73.10 Total new obligations .................................................... 73.20 Total financing disbursements (gross) ......................... 74.00 Change in uncollected customer payments from Federal sources (unexpired) ............................................ 74.40 Obligated balance, end of year ..................................... 87.00 Total financing disbursements (gross) ......................... 2003 est. 2004 est. ¥14 ................... ................... 858 1,614 1,708 ¥8 1,661 ¥1,598 1,764 69 1,656 ¥1,627 681 931 98 1,008 ¥907 14 ................... ................... 69 98 199 1,598 1,627 907 Offsets: Against gross financing authority and financing disbursements: Offsetting collections (cash) from: Federal sources: 88.00 Payments from program account ..................... 88.00 Upward reestimate ........................................... 88.00 Interest on reestimate ...................................... 88.25 Interest on uninvested funds ............................... Non-Federal sources: 88.40 Fees .................................................................. 88.40 Recoveries ......................................................... 88.40 Proceeds from loan asset sales ....................... 88.40 Other ................................................................. ¥314 ¥300 ¥35 ¥209 ¥279 ¥302 ¥53 ................... ................... ¥36 ¥191 ¥202 88.90 ¥872 88.95 89.00 90.00 Total, offsetting collections (cash) .................. Against gross financing authority only: Change in receivables from program accounts ....... Net financing authority and financing disbursements: Financing authority ........................................................ Financing disbursements ............................................... 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. Balance Sheet (in millions of dollars) ASSETS: Federal assets: 1101 Fund balances with Treasury ............. Investments in US securities: 1106 Receivables, net ............................. Non-Federal assets: 1206 Receivables, net .................................. 1207 Advances and prepayments ................ Net value of assets related to post1991 acquired defaulted guaranteed loans receivable: 1501 Defaulted guaranteed loans receivable, gross ...................................... 1505 Allowance for subsidy cost (–) ........... 1599 ¥124 ¥72 ¥19 ¥45 ¥107 ¥94 ¥526 ................... ¥163 ................... ¥48 ¥48 ¥1,614 ¥681 14 ................... ................... 2001 actual Identification code 73–4149–0–3–376 1901 Net present value of assets related to defaulted guaranteed loans Other Federal assets: Public and other 1999 Total assets ........................................ LIABILITIES: Federal liabilities: 2101 Accounts payable ................................ 2103 Debt ..................................................... 2105 Other ................................................... Non-Federal liabilities: 2201 Accounts payable ................................ 2204 Liabilities for loan guarantees ........... 2207 Other ................................................... 2002 actual 2003 est. 2004 est. 924 253 360 490 179 669 799 700 .................. 245 61 .................. 76 2 61 .................. 966 –32 1,304 –36 1,556 –90 1,813 –95 934 238 1,268 377 1,466 143 1,718 .................. 2,520 2,628 2,846 2,969 .................. .................. .................. 73 850 251 89 875 238 75 900 338 .................. 2,520 .................. 103 1,358 –7 115 1,455 74 147 1,458 51 150 13 Total liabilities .................................... 2,520 2,628 2,846 2,969 4999 850 726 2999 Total liabilities and net position ............ 2,520 2,628 2,846 2,969 250 226 f BUSINESS LOAN FUND LIQUIDATING ACCOUNT Status of Guaranteed Loans (in millions of dollars) Program and Financing (in millions of dollars) 2002 actual Identification code 73–4149–0–3–376 2003 est. 2004 est. 15,266 18,983 20,802 2150 2199 15,266 12,213 18,983 15,186 20,802 16,642 35,107 12,342 ¥7,427 40,023 10,111 ¥7,481 41,933 10,741 ¥8,138 ¥922 923 ¥684 ¥36 ¥698 ¥37 Total guaranteed loan commitments ........................ Guaranteed amount of 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 ............................................. 2002 actual Identification code 73–4154–0–3–376 Position with respect to appropriations act limitation on commitments: 2111 Limitation on guaranteed loans made by private lenders .............................................................................. Obligations by program activity: Interest Expense to Treasury ......................................... Msc. program expenses ................................................. Guaranteed loan default claims .................................... 15 45 414 8 85 147 5 60 85 10.00 Total new obligations ................................................ 474 240 150 289 175 257 ................... 113 85 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Resources available from recoveries of prior year obligations ....................................................................... 22.40 Capital transfer to general fund ................................... 22.60 Portion applied to repay debt to FFB ............................ 647 ................... 76 ¥350 ¥115 ................... ¥30 ¥15 ¥11 731 240 150 ¥474 ¥240 ¥150 257 ................... ................... 21.40 22.00 22.10 Outstanding, end of year .......................................... 40,023 41,933 43,801 2299 Memorandum: Guaranteed amount of guaranteed loans outstanding, end of year ................................................................ 23.90 23.95 24.40 32,018 33,546 35,041 New budget authority (gross), detail: Mandatory: 69.00 Offsetting collections (cash) ..................................... 69.10 Change in uncollected customer payments from Federal sources (unexpired) .................................. 2390 Outstanding, end of year ...................................... VerDate Dec 13 2002 16:36 Jan 23, 2003 Jkt 193833 966 922 ¥212 ¥105 ¥267 1,304 PO 00000 1,304 684 ¥218 ¥74 ¥140 1,556 698 ¥223 ¥75 ¥143 1,556 1,813 Frm 00006 Fmt 3616 2004 est. 00.01 00.03 00.05 2290 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 ............................................. 2003 est. Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 69.90 72.40 73.10 73.20 171 113 85 4 ................... ................... Spending authority from offsetting collections (total mandatory) ............................................. 175 113 85 Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... 388 474 ¥102 109 240 ¥90 259 150 ¥68 Sfmt 3643 E:\BUDGET\SBA.XXX SBA SMALL BUSINESS ADMINISTRATION 73.45 74.00 74.40 Recoveries of prior year obligations .............................. Change in uncollected customer payments from Federal sources (unexpired) ............................................ Obligated balance, end of year ..................................... 86.97 Outlays (gross), detail: Outlays from new mandatory authority ......................... Offsets: Against gross budget authority and outlays: Offsetting collections (cash) from: Loan repayments: Non-Federal sources: 88.40 Financing programs-principal ..................... 88.40 Investment programs-principal ................... 88.40 Interest Income-Business ............................ 88.40 Interest income-Investment ......................... 88.40 collection on FFB loans ............................... 88.40 Other Income-both Business and Investment ........................................................ 88.40 Asset sale proceeds ..................................... 88.90 88.95 89.00 90.00 Total, offsetting collections (cash) .................. Against gross budget authority only: Change in uncollected customer payments from Federal sources (unexpired) .................................. ¥647 ................... ¥76 ¥4 ................... ................... 109 259 265 102 90 68 ¥44 ¥20 ¥5 ¥3 ¥30 ¥32 ¥11 ¥4 ¥2 ¥15 ¥24 ¥8 ¥3 ¥1 ¥11 ¥50 ¥49 ¥38 ¥19 ................... ................... ¥171 ¥113 ¥85 Status of Direct Loans (in millions of dollars) 2002 actual 2003 est. 2004 est. Business Loan Fund, Direct Loans Cumulative balance of direct loans outstanding: 1210 Outstanding, start of year ............................................. 204 148 113 1232 Disbursements: Purchase of loans assets from the public ......................................................................... 7 11 10 Repayments: 1251 Repayments and prepayments .................................. ¥44 ¥35 ¥32 1252 Proceeds from loan asset sales to the public or discounted ............................................................. ¥6 ................... ................... 1262 Adjustments: Discount on loan asset sales to the public or discounted ................................................. ................... ................... ................... 1263 Write-offs for default: Direct loans ............................... ¥13 ¥11 ¥9 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 .......................................... 148 113 133 ¥30 103 ¥15 88 ¥11 103 88 77 1,501 ¥418 2003 est. 1,067 ¥244 2004 est. 812 ¥191 ¥11 ¥11 ¥10 ¥5 ................... ................... 357 328 307 Statement of Operations (in millions of dollars) 2001 actual Identification code 73–4154–0–3–376 2002 actual 2003 est. 2004 est. 0101 0102 Revenue ................................................... Expense .................................................... 24 –154 26 –22 20 –16 15 –10 0105 Net income or loss (–) ............................ –130 4 4 5 Balance Sheet (in millions of dollars) 2001 actual Identification code 73–4154–0–3–376 ASSETS: Federal assets: 1101 Fund balances with Treasury ............. Investments in US securities: 1104 Agency securities, par .................... 1106 Receivables, net ............................. 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 1901 2002 actual Business Loan Fund, Loan Guarantees Cumulative balance of guaranteed loans outstanding: 2210 Outstanding, start of year ............................................. 2251 Repayments and prepayments ...................................... Adjustments: 2261 Terminations for default that result in loans receivable ....................................................................... 2264 Other adjustments, net ............................................. Outstanding, end of year ...................................... 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. 82 Status of Guaranteed Loans (in millions of dollars) Identification code 73–4154–0–3–376 2390 ¥4 ................... ................... Net budget authority and outlays: Budget authority ............................................................ ................... ................... ................... Outlays ........................................................................... ¥68 ¥23 ¥17 Identification code 73–4154–0–3–376 989 Federal Funds—Continued Value of assets related to direct loans .......................................... Other Federal assets: Other assets: Other assets ................................... Other assets 7(a) secondary market .............................................. 1999 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 ................................ Liabilities for loan guarantees: 2204 Liabilities for loan guarantees ....... 2204 Liabilities for 7(a) secondary market .............................................. 2207 Other Liabilities .................................. 2003 est. 2004 est. 676 365 254 225 490 .................. 3 .................. 5 4 .................. 4 2 .................. 3 1 50 8 12 .................. 59 2 49 .................. 337 251 202 160 –26 –74 –30 –8 311 177 172 152 88 207 30 13 .................. 296 296 296 1,626 1,066 819 739 27 .................. 133 987 19 73 29 380 15 62 15 156 39 50 11 146 4 233 35 25 .................. .................. 12 6 .................. 475 314 36 314 228 314 166 1,626 1,084 837 757 Outstanding, end of year .......................................... 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 ............................................. VerDate Dec 13 2002 16:36 Jan 23, 2003 Jkt 193833 938 812 715 611 .................. –18 –18 –18 Total net position ................................ .................. –18 –18 –18 4999 1,067 Total liabilities .................................... NET POSITION: 3300 Cumulative results of operations ............ 3999 2290 2999 2002 actual Total liabilities and net position ............ 1,626 1,066 819 739 538 Object Classification (in millions of dollars) 2002 actual Identification code 73–4154–0–3–376 378 11 ¥18 ¥6 ¥8 PO 00000 357 11 ¥24 ¥11 ¥5 328 10 ¥19 ¥8 ¥4 Frm 00007 Fmt 3616 2003 est. 2004 est. 42.0 43.0 Insurance claims and indemnities ................................ Interest and dividends ................................................... 459 15 232 8 145 5 99.9 Total new obligations ................................................ 474 240 150 Sfmt 3643 E:\BUDGET\SBA.XXX SBA 990 THE BUDGET FOR FISCAL YEAR 2004 Federal Funds—Continued Credit accounts—Continued DISASTER LOANS PROGRAM ACCOUNT For the cost of direct loans authorized by section 7(b) of the Small Business Act, as amended, $79,109,000, 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, $118,354,000, 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 $108,000,000 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. Note.—A regular 2003 appropriation for this account had not been enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 107–229, as amended). The amounts included for 2003 in this budget reflect the Administration’s 2003 policy proposals. General Fund Credit Receipt Accounts (in millions of dollars) 2002 actual Identification code 73–1152–0–1–453 0102 Disaster loans program, downward reestimates of subsidies ................................................................... 2003 est. 14 2004 est. 42 ................... Program and Financing (in millions of dollars) 2002 actual Identification code 73–1152–0–1–453 2003 est. 2004 est. 00.01 00.05 00.06 00.09 Obligations by program activity: Direct loan subsidy ........................................................ 217 Upward reestimate of direct loans ................................ ................... Interest on upward reestimates of direct loans ........... ................... Administrative expense .................................................. 157 76 79 305 ................... 163 ................... 122 118 00.91 08.03 Direct Program by Activities—Subtotal (1 level) 374 Gain sharing to Salaries ............................................... ................... 666 197 3 ................... 10.00 Total new obligations ................................................ Budgetary resources available for obligation: 21.40 Unobligated balance carried forward, start of year 22.00 New budget authority (gross) ........................................ 22.10 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 ....... New budget authority (gross), detail: Discretionary: Appropriation: 40.00 Appropriation ......................................................... 40.00 Appropriation-Terrorism ........................................ 41.00 Transferred to other accounts ................................... 43.00 60.00 68.00 374 131 282 445 ¥374 71 Total new budget authority (gross) .......................... 282 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 ..................................... 68 374 ¥372 ¥32 38 Jkt 193833 73 198 6 ................... 742 ¥669 73 271 ¥197 74 210 194 198 75 ................... ................... ¥3 ................... ................... 70.00 16:36 Jan 23, 2003 71 665 197 Outlays (gross), detail: Outlays from new discretionary authority ..................... 217 Outlays from discretionary balances ............................. 155 Outlays from new mandatory authority ......................... ................... 87.00 Total outlays (gross) ................................................. 372 Offsets: Against gross budget authority and outlays: 88.00 Offsetting collections (cash) from: Federal sources ................... 89.00 90.00 99.00 99.01 Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 282 372 151 152 70 46 468 ................... 689 198 ¥3 ................... 662 686 198 198 Additional net budget authority and outlays to cover cost of fully accruing retirement: Budget authority ............................................................ 3 3 Outlays ........................................................................... 3 3 3 3 Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars) 2002 actual Identification code 73–1152–0–1–453 Direct loan levels supportable by subsidy budget authority: 115001 Disaster Loan ................................................................. 115001 EIDL Terrorist Attack ...................................................... 115001 PHY Terrorist Attack ....................................................... 844 375 43 2003 est. 2004 est. 544 760 169 ................... 18 ................... 115901 Total direct loan levels .................................................. Direct loan subsidy (in percent): 132001 Direct loan levels ........................................................... 132001 Direct Loans ¥EIDL Terrorist attack ............................ 132001 PHY Terrorist Attack ....................................................... 1,262 731 760 14.67 23.16 14.67 13.98 23.20 13.98 11.72 0.00 0.00 132901 Weighted average subsidy rate ..................................... Direct loan subsidy budget authority: 133001 Direct loan levels ........................................................... 133001 Direct Loans ¥EIDL Terrorist attack ............................ 133001 PHY Terrorist Attack ....................................................... 17.19 16.14 10.39 133901 Total subsidy budget authority ...................................... Direct loan subsidy outlays: 134001 Direct loan levels ........................................................... 134001 Direct Loans ¥EIDL Terrorist attack ............................ 134001 Direct loan ¥PHY Terrorist attack ............................... 217 124 87 6 76 79 39 ................... 3 ................... 118 79 124 89 76 87 12 ................... 6 ................... ................... 134901 Total subsidy outlays ..................................................... 217 Direct loan upward reestimate subsidy budget authority: 135001 Direct loan levels ........................................................... ................... 135901 Total upward reestimate budget authority .................... ................... Direct loan upward reestimate subsidy outlays: 136001 Direct loan levels ........................................................... ................... 101 76 468 ................... 468 ................... 468 ................... PO 00000 194 198 136901 Total upward reestimate outlays ................................... ................... Direct loan downward reestimate subsidy budget authority: 137001 Disaster Loan ................................................................. ¥14 ¥42 ................... 137901 Total downward reestimate budget authority ............... Direct loan downward reestimate subsidy outlays: 138001 Disaster Loan ................................................................. ¥14 ¥42 ................... ¥14 ¥42 ................... 138901 Total downward reestimate subsidy outlays ................. 32 Appropriation (total discretionary) ........................ 282 Mandatory: Appropriation ............................................................. ................... Discretionary: Spending authority from offsetting collections: Offsetting collections (cash) ..................................... ................... VerDate Dec 13 2002 669 86.90 86.93 86.97 468 ................... ¥14 ¥42 ................... Administrative expense data: 351001 Budget authority ............................................................ 101 122 118 351001 Budget authority for terrorists attack ........................... ................... ................... ................... 359001 Outlays from new authority ........................................... 101 122 118 359001 Outlays from new authority for terrorist attack ............ ................... ................... ................... 468 ................... 3 ................... 665 198 38 12 669 197 ¥689 ¥198 ¥6 ................... 12 11 Frm 00008 Fmt 3616 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. Sfmt 3616 E:\BUDGET\SBA.XXX SBA SMALL BUSINESS ADMINISTRATION 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 2004, SBA will rely on anticipated carry-over balances of $0 million from 2003 plus $10 million in recoveries to support $760 million in loans. The subsidy rate is 11.72 percent. Offsets: Against gross financing authority and financing disbursements: Offsetting collections (cash) from: Federal sources: 88.00 Payments from program account ..................... ¥217 88.00 Upward reestimate ........................................... ................... 88.00 Interest on upward reestimate ......................... ................... 88.25 Interest on uninvested funds ............................... ¥436 Non-Federal sources: 88.40 Repayments of principal, net ........................... ¥490 88.40 Collection of misc. receivables ........................ ¥162 88.40 Interest received on loans ................................ ¥79 88.40 Proceeds from loan sales ................................. ¥709 ¥498 ¥165 ¥84 ¥931 ¥508 ¥168 ¥88 ¥695 ¥2,093 ¥2,692 ¥2,000 88.90 88.95 Total, offsetting collections (cash) .................. Against gross financing authority only: Change in receivables from program accounts ....... 89.00 90.00 Net financing authority and financing disbursements: Financing authority ........................................................ Financing disbursements ............................................... Object Classification (in millions of dollars) 2002 actual Identification code 73–1152–0–1–453 2003 est. 2004 est. 25.2 41.0 Other services ................................................................ Grants, subsidies, and contributions ............................ 157 217 122 547 118 79 99.9 Total new obligations ................................................ 374 669 197 DISASTER DIRECT LOAN FINANCING ACCOUNT 00.01 00.02 00.91 08.02 08.03 08.04 Obligations by program activity: Direct loans .................................................................... Interest on Treasury borrowing ...................................... 1,236 683 Direct Program by Activities—Subtotal (1 level) 1,919 Payment of downward reestimate to a receipt account 14 Payment to liquidating account to purchase loan assets (73 4153) .......................................................... 80 Payment of interest on downward reestimate to a receipt account .......................................................... ................... 2003 est. 2004 est. 1,110 696 1,331 705 1,806 2,036 39 ................... 70 7 3 ................... Direct Program by Activities—Subtotal (1 level) 94 112 7 10.00 Total new obligations ................................................ 2,013 1,918 2,043 5,684 3,100 5,468 ................... 3,480 3,175 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 ........................................ 182 ................... ................... ¥1,485 ¥7,030 ¥1,132 23.90 23.95 24.40 7,481 1,918 2,043 ¥2,013 ¥1,918 ¥2,043 5,468 ................... ................... Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year ....... 1,294 433 2002 actual Identification code 73–4150–0–3–453 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 ..................................................................... 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 ................................................. Write-offs for default: 1263 Direct loans ............................................................... 1264 Other adjustments, net ............................................. 1210 08.91 21.40 22.00 22.10 287 ................... ................... 788 ¥612 1,175 43 Status of Direct Loans (in millions of dollars) 1150 Program and Financing (in millions of dollars) 2002 actual ¥101 ¥76 ¥305 ................... ¥163 ................... ¥445 ¥465 2003 est. 2004 est. Position with respect to appropriations act limitation on obligations: 1111 Limitation on direct loans ............................................. ................... ................... ................... 1131 Direct loan obligations exempt from limitation ............ 1,272 795 760 f Identification code 73–4150–0–3–453 991 Federal Funds—Continued 1290 Outstanding, end of year .......................................... 1,272 795 760 3,288 3,644 3,211 1,226 713 684 80 116 7 ¥368 ¥146 ¥149 ¥461 ¥863 ¥500 ¥84 ¥212 ¥185 ¥73 ¥41 ¥41 36 ................... ................... 3,644 3,211 3,027 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. Balance Sheet (in millions of dollars) 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 uncollected customer payments from Federal sources (unexpired) .................................. 68.90 70.00 788 1,175 2,093 2,692 2,000 ¥287 ................... ................... Spending authority from offsetting collections (total discretionary) .......................................... 1,806 2,692 2,000 Total new financing authority (gross) ...................... 3,100 3,480 3,175 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 Change in obligated balances: 72.40 Obligated balance, start of year ................................... 73.10 Total new obligations .................................................... 73.20 Total financing disbursements (gross) ......................... 73.45 Recoveries of prior year obligations .............................. 74.00 Change in uncollected customer payments from Federal sources (unexpired) ............................................ 74.40 Obligated balance, end of year ..................................... 87.00 Total financing disbursements (gross) ......................... VerDate Dec 13 2002 16:36 Jan 23, 2003 Jkt 193833 2001 actual Identification code 73–4150–0–3–453 1,294 612 204 42 2,013 1,918 2,043 ¥2,526 ¥2,080 ¥2,043 ¥182 ................... ................... 287 ................... ................... 204 42 42 2,526 2,080 2,043 PO 00000 Frm 00009 Fmt 3616 Net present value of assets related to direct loans ........................... 1999 Total assets ........................................ LIABILITIES: Federal liabilities: 2103 Debt ..................................................... 2105 Other ................................................... Non-Federal liabilities: 2201 Accounts payable ................................ 2207 Other ................................................... Sfmt 3633 E:\BUDGET\SBA.XXX SBA 2002 actual 2003 est. 2004 est. 5,072 5,672 3,000 3,095 1,094 512 517 426 5,212 –931 3,644 35 3,211 –32 3,027 –33 4,281 3,679 3,179 2,994 10,447 9,863 6,696 6,515 10,447 .................. 9,742 41 6,270 153 6,283 85 .................. .................. 75 5 188 85 51 96 992 THE BUDGET FOR FISCAL YEAR 2004 Federal Funds—Continued 1263 DISASTER DIRECT LOAN FINANCING ACCOUNT—Continued Write-offs for default: Direct loans ............................... ¥28 ¥3 ¥1 1290 Credit accounts—Continued Outstanding, end of year .......................................... 100 11 1 Balance Sheet (in millions of dollars)—Continued DISASTER LOAN FUND LIQUIDATING ACCOUNT 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. Program and Financing (in millions of dollars) Statement of Operations (in millions of dollars) 2001 actual Identification code 73–4150–0–3–453 2002 actual 2003 est. 2004 est. 2999 Total liabilities .................................... 10,447 9,863 6,696 6,515 4999 Total liabilities and net position ............ 10,447 9,863 6,696 6,515 f 2002 actual Identification code 73–4153–0–3–453 2003 est. 9 14 4 21 3 8 10.00 23 25 23.90 23.95 24.40 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) ..................................... 69.10 Change in uncollected customer payments from Federal sources (unexpired) .................................. 69.90 Spending authority from offsetting collections (total mandatory) ............................................. Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Change in uncollected customer payments from Federal sources (unexpired) ............................................ 74.40 Obligated balance, end of year ..................................... 86.97 Outlays (gross), detail: Outlays from new mandatory authority ......................... 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 collection of Principal ............................ 88.90 88.95 89.00 90.00 Total, offsetting collections (cash) .................. Against gross budget authority only: Change in uncollected customer payments from Federal sources (unexpired) .................................. 308 113 ................... 136 ¥308 86 11 ¥174 ................... 136 25 11 ¥23 ¥25 ¥11 113 ................... ................... 124 86 11 12 ................... ................... 8 –48 5 –30 3 –15 0105 Net income or loss (–) ............................ –80 –40 –25 –12 Balance Sheet (in millions of dollars) 86 2001 actual Identification code 73–4153–0–3–453 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 pre–1992 direct loans receivable and acquired defaulted guaranteed loans receivable: 1601 Direct loans, gross .............................. 1603 Allowance for estimated uncollectible loans and interest (–) .................... 1699 136 11 Value of assets related to direct loans .......................................... Other Federal assets: Other assets ........ 11 25 ¥14 22 11 ¥2 ¥12 ................... ................... 11 22 31 25 14 2 1999 2002 actual 36 124 20 10 .................. 9 12 .................. .................. .................. 6 .................. 248 100 11 1 –18 –11 .................. .................. 230 320 89 16 11 52 1 .................. 595 241 83 17 22 565 9 104 5 54 3 8 4 4 127 1 18 6 5 1 2999 Total liabilities .................................... 595 241 83 17 Total liabilities and net position ............ 595 241 83 17 Object Classification (in millions of dollars) ¥80 ¥40 ¥1 ¥3 ¥70 ¥13 ¥1 ¥2 ¥7 ¥2 ¥1 ¥1 ¥124 ¥86 ¥11 2002 actual Identification code 73–4153–0–3–453 VerDate Dec 13 2002 16:36 Jan 23, 2003 2004 est. Other services ................................................................ Interest and dividends ................................................... 14 9 21 4 8 3 99.9 Total new obligations ................................................ 23 25 11 f ¥12 ................... ................... POLLUTION CONTROL EQUIPMENT FUND LIQUIDATING ACCOUNT Program and Financing (in millions of dollars) 2002 actual 2003 est. 2004 est. 2003 est. 2004 est. 248 100 ¥13 ¥2 ¥56 ¥73 Obligations by program activity: Direct program ............................................................... ................... 3 3 Total new obligations (object class 42.0) ................ ................... 3 3 11 ¥40 00.01 10.00 2002 actual Jkt 193833 2003 est. 25.2 43.0 Identification code 73–4147–0–3–376 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 ................................................. 2004 est. Total assets ........................................ LIABILITIES: Federal liabilities: 2101 Accounts payable ................................ 2105 Other ................................................... Non-Federal liabilities: 2201 Accounts payable ................................ 2207 Other ................................................... Status of Direct Loans (in millions of dollars) 1210 2003 est. 4999 25 23 ¥25 Net budget authority and outlays: Budget authority ............................................................ ................... ................... ................... Outlays ........................................................................... ¥99 ¥72 ¥9 Identification code 73–4153–0–3–453 2004 est. 2 –82 1901 72.40 73.10 73.20 74.00 2003 est. Revenue ................................................... Expense .................................................... 11 Budgetary resources available for obligation: 21.40 Unobligated balance carried forward, start of year 22.00 New budget authority from offsetting collections (gross) ....................................................................... 22.40 Capital transfer to general fund ................................... 2002 actual 0101 0102 Obligations by program activity: 01.01 Interest expense to Treasury .......................................... 01.03 Other expenses ............................................................... Total new obligations ................................................ 2001 actual Identification code 73–4153–0–3–453 2004 est. ¥7 21.40 22.00 22.40 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Capital transfer to general fund ................................... 3 3 ¥3 ¥24 ................... ................... 23.90 Total budgetary resources available for obligation 3 PO 00000 Frm 00010 Fmt 3616 Sfmt 3643 E:\BUDGET\SBA.XXX SBA 3 ................... 3 3 ¥3 ................... 3 3 SMALL BUSINESS ADMINISTRATION 23.95 24.40 Total new obligations .................................................... ................... ¥3 ¥3 Unobligated balance carried forward, end of year ....... 3 ................... ................... Balance Sheet (in millions of dollars) 2001 actual Identification code 73–4147–0–3–376 New budget authority (gross), detail: Mandatory: 60.00 Appropriation ............................................................. 3 3 3 Change in obligated balances: 73.10 Total new obligations .................................................... ................... 73.20 Total outlays (gross) ...................................................... ................... 3 ¥3 3 ¥3 Outlays (gross), detail: Outlays from new mandatory authority ......................... ................... 3 3 86.97 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 Net budget authority and outlays: 89.00 Budget authority ............................................................ 3 90.00 Outlays ........................................................................... ................... 3 3 3 3 Status of Guaranteed Loans (in millions of dollars) 2002 actual Identification code 73–4147–0–3–376 2210 2251 2261 993 Federal Funds—Continued Total assets ........................................ LIABILITIES: 2104 Federal liabilities: Resources payable to Treasury ............................................... Non-Federal liabilities: 2201 Accounts payable ................................ 2207 Other ................................................... 2003 est. 2004 est. 3 .................. 27 5 2 .................. .................. .................. 16 .................. 15 .................. 19 32 17 .................. 19 .................. 17 .................. .................. .................. 1 31 .................. .................. .................. .................. Total liabilities .................................... NET POSITION: 3300 Cumulative results of operations ............ 19 32 17 .................. .................. .................. .................. .................. 8 ¥2 3999 Total net position ................................ .................. .................. .................. .................. ¥1 ¥1 4999 Total liabilities and net position ............ 19 32 17 .................. 2003 est. Cumulative balance of guaranteed loans outstanding: Outstanding, start of year ............................................. 16 Repayments and prepayments ...................................... ¥4 Adjustments: Terminations for default that result in loans receivable ........................................................ ................... 2999 2002 actual 2004 est. 12 ¥3 2290 Outstanding, end of year .......................................... 12 8 5 f 2299 Memorandum: Guaranteed amount of guaranteed loans outstanding, end of year ................................................................ 12 8 5 Addendum: Cumulative balance of defaulted guaranteed loans that result in loans receivable: 2310 Outstanding, start of year ........................................ 49 2331 Disbursements for guaranteed loan claims ............. ................... 49 1 50 1 2390 50 51 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. Outstanding, end of year ...................................... ADMINISTRATIVE PROVISION—SMALL BUSINESS ADMINISTRATION 49 f 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. GENERAL FUND RECEIPT ACCOUNTS (in millions of dollars) 2002 actual Statement of Operations (in millions of dollars) Identification code 73–4147–0–3–376 2001 actual 2002 actual 2003 est. 2004 est. 0101 0102 Revenue ................................................... Expense .................................................... .................. .................. .................. .................. .................. –3 .................. .................. Offsetting receipts from the public: 73–272130 Disaster loan program, Downward reestimates of subsidies ........................................................................ 73–272230 Business loan program, Downward reestimates of subsidies ............................................................. 0105 Net income or loss (–) ............................ .................. .................. –3 .................. General Fund Offsetting receipts from the public ..................... Frm 00011 Fmt 3616 VerDate Dec 13 2002 16:36 Jan 23, 2003 Jkt 193833 PO 00000 Sfmt 3643 E:\BUDGET\SBA.XXX SBA 2003 est. 2004 est. 14 42 ................... 389 258 ................... 403 300 ................... VerDate 25<JUN>98 07:49 Jul 16, 1998 Jkt 179129 PO 00000 Frm 00008 Fmt 8008 Sfmt 8092 Y:\SGML\179129F.XXX pfrm08 PsN: 179129F
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