Financial Statements of the United States Government for the Fiscal Years Ended September 30, 2017, and 2016

Statements of Changes in Cash Balance from Budget and Other Activities

The primary purpose of these statements is to report how the annual budget deficit relates to the change in the Government’s cash and other monetary assets, as well as debt held by the public. It explains why the budget deficit normally would not result in an equivalent change in the Government’s cash and other monetary assets.

These statements reconcile the budget deficit to the change in cash and other monetary assets during the fiscal year. They also serve to explain how the budget deficits were financed. A budget deficit is the result of outlays exceeding receipts during a particular fiscal year.

The budget deficit is primarily financed through borrowings from the public. Other transactions, such as the payment of interest on Treasury securities held by the public, also require cash disbursements and are not part of the deficit. Additionally, the budget deficit includes certain amounts that are recognized in the budget, but will be disbursed in a future period, or are adjustments that did not affect the cash balance. These amounts include interest accrued on Treasury securities held by the public, as well as subsidy expense related to direct and guaranteed loans.

These statements show the adjustments for non-cash outlays included in the budget, and items affecting the cash balance not included in the budget, to explain the change in cash and other monetary assets.

In fiscal year 2017, additional lines were included in the presentation of this statement to provide further breakdown of certain categories of transactions. This presentation change did not affect the fiscal year 2016 totals related to cash and other monetary assets balances.

United States Government
Statements of Changes in Cash Balance from Budget and Other Activities
for the Years Ended September 30, 2017, and 2016

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(In billions of dollars)	2017	Restated 2016
Cash flow from budget activities
Total budget receipts	3,314.9	3,266.7
Total budget outlays	(3,980.6)	(3,854.1)
Budget deficit	(665.7)	(587.4)
Adjustments for non-cash outlays included in the budget:
Interest accrued on Treasury securities held by the public	279.3	264.1
Net amortization on Treasury securities held by the public	17.0	8.9
Agencies year-end credit reform subsidy re-estimates	(18.1)	(12.7)
Subsidy expense accrued under direct loan & guarantee programs	20.3	19.0
Subtotal - adjustments for non-cash transactions in the budget	298.5	279.3
Cash flow from activities not included in the budget
Cash flow from non-budget activities
Interest paid on Treasury securities held by the public	(241.6)	(244.3)
Direct loans
Loan disbursements	(224.2)	(211.5)
Repayment of loans	167.6	122.7
Loan guarantees
Default payment/claims	(106.9)	(122.5)
Fees and recoveries on defaulted loans	120.5	101.9
Miscellaneous liabilities	(1.0)	1.1
Deposit fund liability balances	8.9	(9.6)
Loans to the IMF	2.3	0.9
Investments in non-federal securities	(0.1)	3.4
Seigniorage	0.3	0.6
Subtotal - cash flow from non-budget activities	(274.2)	(357.3)
Cash flow from monetary transactions
Reserve position in the IMF	-	1.2
Subtotal - cash flow from monetary transactions	-	1.2
Cash flow from financing
Borrowing from the public	8,703.6	8,390.4
Repayment of debt held by the public	(8,226.0)	(7,352.2)
Effect of uninvested principal from the Thrift Savings Plan (TSP) G Fund	-	(203.2)
Agency securities	-	0.1
Subtotal - cash flow from financing	477.6	835.1
Other	(32.9)	(8.1)
Change in cash and other monetary assets balance	(196.7)	162.8
Beginning cash and other monetary assets balance	467.9	305.1
Ending cash and other monetary assets balance	271.2	467.9
The accompanying notesare an integral part of these financial statements.

Last modified 02/09/23