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TRUST AND DEPOSIT FUNDS DISTINGUISHED
The funds which are covered in this part of the budget limitations on administrative expenses. are of two types as follows:
Trust funds are those funds established to account for receipts which are held in a fiduciary capacity by the Government for use in carrying out specific purposes and programs in accordance with a trust agreement or a statute. Within the category of trust funds, there is a subcategory of trust revolving funds, which are trust funds used to carry on a cycle of business-type operations, including certain corporations which are partly owned by the Government and partly by private interests.
Deposit funds are those funds established to account for collections that are either (a) held in suspense temporarily and later refunded or paid into some other fund of the Government, or (b) held by the Government as banker or agent for others, being paid out in lump sums at the direction of the owner. Such funds are not available for paying salaries, expenses, grants, or other expenditures
of the Government.
Five Government-sponsored enterprises are also covered in the summary table. While their money on deposit with the U.S. Treasurer is technically handled as a deposit fund in each case, the enterprises are set forth under a heading separate from the deposit funds generally.
While the transactions in these groups of funds are a part of the financial program of the Government, trust and deposit funds are reserved for the purposes of the trust or the terms of the deposit; hence these transactions are excluded from the administrative budget totals.
Congress. In a few cases receipts of trust funds can be obligated and expended only in accordance with appropriations enacted by Congress from year to year. Examples are the funds of the United States Soldiers Home and the general municipal revenues of the District of Columbia. In the case of the Highway trust fund, Congress controls expenditures by appropriations annually, but it grants contract authorizations in advance thereof. In a few other cases, the trust receipts are permanently available for program purposes, but Congress imposes annual
OBLIGATIONAL AUTHORITY FOR TRUST FUNDS
Most trust fund receipts are made available for use by permanent law, without requiring further action by
DEPOSIT FUND EXPENDITURES
Deposit fund expenditures are shown in the summary table for this part of the appendix, but are not shown in the details. These expenditures are on a net basis; that is, the collections are deducted from checks issued, and the resulting figure is shown as an expenditure. Checks issued include transactions to move money into other funds, as well as refunds and the return of money to depositors. When the collections are larger than the gross expenditures, the amount shown as an expenditure is a negative
Expenditures of Government-sponsored enterprises appear in the summary table for this part of the appendix. expenditures are on a net basis, and are equal in amount to the borrowing by such enterprises through issuance of their own debt, and to their disinvestments in the U.S. securities. A negative expenditure for one of these enterprises indicates either the deposit of moneys used for the repayment of debt or for investment in U.S. securities. The financial transactions of Government-sponsored enterprises which are handled outside the accounts of the U.S. Treasurer are not included in the summary table. (A new part IV on annexed budgets includes detailed budget schedules with respect to seven self-supporting activities, including three of the Government-sponsored enterprises and four other activities.)
DETAIL OF TRUST FUND ESTIMATES
The detailed material in part II covers the trust funds which do not require annual action by Congress. Consolidated schedules are used for the smaller trust funds of each bureau or independent agency.
The material here follows the general format of the similar material in part I, with the principal exception that these schedules show receipts in place of showing appropriations. In cases where the receipts are not permanently appropriated as the money is collected, the schedules identify the portion of the unobligated balances on hand which is appropriated and the portion which is unappropriated. Also, no appropriation language appears here, and the narrative statement of program and performance usually consists only of an explanation of the sources of money for the fund, the purposes for which it is authorized to be spent, and the legal citations.
This schedule covers (1) funds received as gifts for immediate expenditure and receipts from the sale of recordings and photoduplication materials financed from capital originally received as gifts, (2) income from investments held by the Library of Congress Trust Fund Board, and (3) interest at the rate of 4 percent per annum paid by the Treasury on the principal funds deposited therewith as described under "Library of Congress trust fund, principal accounts." (2 U.S.C. 156-160; 31 U.S.C. 725s; 37 Stat. 319.)
preparation of the index to Dissertations Abstracts and the preparation of printed catalog cards for additional manuscript collections located in the Library of Congress and other institutions was continued, and the National Union Catalog of Manuscript Collections, 1962, was prepared for publication.
4. Information service on copyright materials.-Depositors were supplied with preliminary information relating to copyright materials in selected subject fields.
Obligations by major source of funds for 1963 and estimated for 1964 and 1965 are as follows (in thousands of dollars):
Library of Congress gift fund..
Library of Congress trust fund, income
11 Personnel compensation:
1963 actual 1964 estimate 1965 estimate
Total personnel compensation.
Travel and transportation of
Transportation of things......
Object Classification (in thousands of dollars)
Rent, communications, and utilities.
Printing and reproduction..
26 Supplies and materials.
Grants, subsidies, and contributions.
1. Acquisition of library materials.-During 1963, this included the procurement of manuscripts, Hispanic materials, fine prints, books and other library materials from certain foreign areas for the Library of Congress, and the acquisition and distribution of Government documents for the Library of Congress and cooperating libraries.
2. Reader and reference services.-These services during
Employees in permanent positions, end of year.
services; poetry readings; musical concerts; furtherance of musical research, composition, performance and appreciation; and providing photostats, photographs, microfilm, and other forms of photoduplication, and sound recordings of folksongs and poetry to other Government agencies, libraries, and other institutions, and to the general public.
3. Organization and control of the collections. During 1963, work was completed on the National Union Catalog, 1958-1962. This quinquennial cumulation totals 54 volumes. Work continued on the Dewey Decimal Classification, 17th edition and the Union List of Serials, 3rd edition, the former scheduled for publication in calendar year 1964 and the latter, in calendar year 1965. The
Unobligated balance brought forward...
Unobligated balance carried forward.
LIBRARY OF CONGRESS TRUST FUND PRINCIPAL ACCOUNTS
4,491 4.493 2 7 -4,493 -4,500
Program by activities:
2. Death claims
The additional principal sum of $20 thousand, representing the bequest of Gertrude M. Hubbard, is for the purchase of engravings and etchings (37 Stat. 319).
The use of the income from these accounts is described under Library of Congress gift and trust fund income
1965 estimate estimate
-3 -2,250 445
300 300 10
-3 -2,500 445
of member judges for any unpaid amounts credited to the individual accounts of such judges (28 U.S.C. 376).
This fund is used to pay annuities to eligible widows and dependent children of deceased judges of the United States, to make refunds to former judges who elected to come under the Judicial Survivors Annuity System but who have left the service, and to pay claims of survivors
During 1963 the number of judges participating in the system increased from 409 to 419 and the number of nonparticipants decreased from 50 to 44. There were 463 judges on the roll at the end of the year as compared with 459 at the beginning of the year.
On June 30, 1963, there were 139 survivor annuitants on the roll which is exactly the same number on the roll on June 30, 1962. However, during the year, the average annuity increased $86, from $2,860 to $2,946. This increase is due to the fact that the current awards to annuitants are somewhat higher than the annuities granted to existing widows when the system was established.
1. Advances for economic assistance.-By agreement with certain governments, the Agency for International Development acts as agent, utilizing dollar advances by them to arrange transportation services for commodities purchased by those countries (22 U.S.C. 2151).
2. Philippine assistance.-By agreement with the Phil445 ippine Government, the Agency for International Development acts as its agent, utilizing dollars advanced by the Philippines to procure commodities for them (22 U.S.C. 2151).
3. Technical assistance, U.S. dollars advanced from foreign governments.-Funds advanced by foreign countries are used to pay some local costs of development grant programs in those countries in accordance with bilateral agreements (22 U.S.C. 2151).
Object Classification (in thousands of dollars)
2,672 3,000 3,000
1964 1965 estimate estimate
1,559 2,392 2.272 3,000 3,000 -2,272 -2,162 2,791 3,120 3,110
1963 1964 actual estimate estimate