The fund is maintained through (a) contributions by participants, including all Foreign Service officers and eligible Foreign Service staff officers and employees, of 6.5% of their basic annual salaries; (b) matching Government (employer) contributions from the appropriations from which salaries are paid; and (c) interest on investments (22 U.S.C. 1071). It is estimated that approximately 1,412 annuitants will be paid retirement benefits from this fund at the end of 1966 compared with 1,163 at the end of 1964 and 1,285 at the end of 1965. Gratuities represent payments made to Foreign Service officers in classes 4, 5, 6 and 7 who are selected out of the Service. While income still exceeds outgo, the long-range projections for this fund indicate that payments will exceed income in the near future and the Government will need to supplement its current practice of only matching employee deductions. DEPARTMENT OF STATE-Continued Program and Financing (in thousands of dollars)—Continued 1964 actual 1965 1966 estimate estimate EDUCATIONAL EXCHANGE-Continued EDUCATIONAL EXCHANGE TRUST FUNDS-Continued 1. U.S. dollars advanced from foreign governments.Funds advanced by other governments are used to send experts abroad to perform requested services, to give foreign nationals scientific, technical, or other training, and to perform technical or other services in this country (22 U.S.C. 1431-1479). 2. Contributions, educational and cultural exchange.U.S. dollars contributed by foreign governments, international organizations, and private individuals and groups are used for the purposes of the Mutual Educational and Cultural Exchange Act of September 21, 1961 (22 U.S.C. 2455). Object Classification (in thousands of dollars) OTHER INDEMNIFICATION FUNDS, FOReign GovernmeNTS Program and Financing (in thousands of dollars) DEPARTMENT OF STATE 41.0 Grants, subsidies, and contributions (obligations, Department of State)...-- ALLOCATION ACCOUNTS Relation of obligations to expenditures: The Secretary of the Treasury may invest the principal of the Pershing Hall Memorial fund in interest-bearing U.S. bonds. Earnings are paid to the American Legion for use in the maintenance of Pershing Hall in Paris, France (49 Stat. 426). There is pending legislation which would transfer the control of Pershing Hall to the Administrator of Veterans' Affairs. The effect of the proposed legislation will abolish the Pershing Hall Memorial Fund, and the Secretary of the Treasury shall cover any funds therein into the Treasury as miscellaneous receipts and shall liquidate any nonliquid assets in such fund and cover the proceeds therefrom into the Treasury as miscellaneous receipts. 71 72 74 Obligated balance, end of year: 10 Total obligations......... 70 Receipts and other offsets (items 11-17)... -4 U.S. securities (par). 67 Treasury balance.... U.S. securities (par). -67 311 Payment of unclaimed moneys. 86 100 100 100 Unclaimed moneys of individuals whose whereabouts are known.. Esther Cattell Schmitt gift fund. Czechoslovakian claims fund.. Soviet claims fund. Yugoslav claims fund.... Amounts Available for Appropriation (in thousands of dollars) 1964 1965 1966 actual estimate estimate 4. Payment of pre-1934 bonds of the Losses in melting gold........ Government of the Philippines.. 5. Payment of unclaimed moneys. 100 6. Unclaimed moneys of individuals whose whereabouts are known... Total unappropriated balance, start of year.. 7. Esther Cattell Schmitt gift fund.. 41 18 Total available for appropriation... -86 Losses in melting gold.......... Total appropriation.. -4 1. Foreign claims settlement.-The Foreign Claims Settlement Commission is authorized to adjudicate claims of American nationals against Bulgaria, Czechoslovakia, Hungary, Italy, Mexico, Panama, Poland, Rumania, Soviet Union, and Yugoslavia. Upon certification by the Commission, the Secretary of the Treasury is authorized to make payments on awards. 2. Losses in melting gold. Out of the receipts to be covered into the Treasury under section 7 of the Gold Reserve Act of 1934, an amount is made available sufficient to cover the difference between the value of gold as carried in the general account of the Treasurer of the United States and the value of such gold after melting and refining (48 Stat. 1061). 3. National defense conditional gifts.-The Secretary of the Treasury accepts on behalf of the United States, conditional gifts of money or other intangible property to be used for a particular defense purpose. Intangibles other than money, are converted at the best terms available. The moneys held in trust are paid to those appropriation accounts which best effectuate the intent of the donors (68 Stat. 566). 4. Payment of pre-1934 bonds of the Government of the Philippines. This trust account provides for payment of principal and interest on outstanding bonds of the Philippines, provinces, cities, and municipalities issued prior to May 1, 1934, under authority of acts of Congress (22 U.S.C. 1393(g) (5)). The value of matured bonds payable by the Bank of the Philippines is $19 thousand as of June 30, 1964. 5. Payment of unclaimed moneys.-Payments are made to individuals who establish their right to moneys held in trust pending claims of owners. 6. Unclaimed moneys of individuals whose whereabouts are known.-Amounts are held in trust awaiting settlement of allowances of claims (31 U.S.C. 725). 7. Esther Cattell Schmitt gift fund.-Public Law 87-467 (76 Stat. 88) authorized the acceptance of the gift made to the United States by the will of Esther Cattell Schmitt. The income received from the gift to the United States is paid by the Secretary of the Treasury to beneficiaries named in provisions of the will. Matured obligations of the District of Columbia.-Funds from inactive accounts are transferred to this account to meet matured obligations of the District of Columbia when and if presented (31 U.S.C. 725s). As of June 30, 1964, there was a balance of $8 thousand in the fund. To promote the education of the blind. The $250 thousand uninvested credit, on the books of the Treasury, is an unexpendable endowment fund established to promote the unction of the blind in the United States. A permanent annual appropriation of $10 thousand being equivalent to U.S.C. 528, 1491, 1493, 1559, 1613, 1624; 48 U.S.C. 740, 795, 1396, 1406(h)). |