COMMODITY CREDIT CORPORATION-Continued Public enterprise funds-Continued Analysis of Government Equity and Undrawn Authorizations (in thousands of dollars)-Continued 204,000 78,600 Note. In addition to obligations other than liabilities the Corporation does not reflect in its accounts claims by the Corporation on which adequate proof has not been established. 1 The changes in these items are reflected on the program and financing schedule. 2 Statutory obligations against borrowing authority include only borrowings from Treasury and obligations to purchase notes, certificates, or other obligations evidencing loans held by banks and accrued interest on such obligations. Other obligations, contingent liabilities, and commitments do not become charges against the statutory borrowing authority until they result in either borrowings from Treasury or in notes, certificates or other obligations evidencing loans held by banks and accrued interest on such obligations. Object Classification (in thousands of dollars) 1 Includes interest on balance recoverable as follows (thousands): 1964, $20,984; 1965, $10,934; 1966, $2,596. 2 Consists of the following (1) Public Law 480, title I, sale of surplus agricultural commodities for foreign currencies-amounts to be recovered from Government agencies; (2) reimbursement for costs of National Wool Act-amounts of liability for accrued payments due producers which will be paid in the succeeding fiscal year; (3) transfer of longstaple cotton from national stock pile for sale by Commodity Credit Corporation-amount available for payment of additional cost or for deposit in the Treasury as miscellaneous receipts; (4) loans for agricultural conservation purposes-amount due from Secretary of Agriculture for advance purchase of conservation materials and services. In addition to the unpaid obligations, the following commitments relating to these programs were outstanding at the end of each year as indicated (in thousands of dollars): Letters of commitment: June 30, June 30, June 30, June 30, 50,000 50, 640 50,000 50,000 50,000 50,000 -640 49, 360 49,360 49, 360 Amounts due from foreign governments-1964, $125,577 thousand. Reimbursement limited to actual expenditures of preceding fiscal year and prior fiscal year amounts not previously reimbursed. Included in Reimbursement to Commodity Credit Corporation for net realized losses. Amount in parentheses is contained in cropland conversion program under Agricultural Stabilization and Conservation Service. 1963 1964 1965 1966 Public Law 480, title I.. Public Law 480, title IV International Wheat Agreement, approved declarations of sales for export. 13, 039 3,329 272, 451 LIMITATION ON ADMINISTRATIVE EXPENSES Nothing in this Act shall be so construed as to prevent the Commodity Credit Corporation from carrying out any activity or any program authorized by law: Provided, That not to exceed [$37,351,0001 $36,650,000 shall be available for administrative expenses of the Corporation: Provided further, That $945,000 of this authorization shall be available only to expand and strengthen the sales program of the Corporation pursuant to authority contained in the Corporation's charter: Provided further, That not less than 7 per centum of this authorization shall be placed in reserve to be apportioned pursuant to section 3679 of the Revised Statutes, as amended, for use only in such amounts and at such times as may become necessary to carry out program operations: Provided further, That all necessary expenses (including legal and special services performed on a contract or fee basis, but not including other personal services) in connection with the acquisition, operation, maintenance, improvement, or disposition of any real or personal property belonging to the Corporation or in which it has an interest, including expenses of collections of pledged collateral, shall be considered as nonadministrative expenses for the purposes hereof [: Provided further, That no part of the administrative funds authorized under this head or of the capital funds of the Commodity Credit Corporation shall be available to formulate or administer a cotton loan program during fiscal year 1965 which requires that micronaire readings shall be mandatory as a part of the cotton classing in connection with cotton loans] (15 U.S.C. 714714p; 31 U.S.C. 841-871; Department of Agriculture and Related Agencies Appropriation Act, 1965.) Program and Financing (in thousands of dollars) 1966 estimate 1701-1709); disposition of commodities for famine relief and other foreign assistance (title II) (7 U.S.C. 17211724); long-term credit and supply contracts (title IV) (7 U.S.C. 1731-1736). Public Law 88-638, approved October 8, 1964 amended Public Law 480 to provide, among other things, that expenditures under Public Law 480 should be classified in the budget as expenditures for international affairs and finance rather than for agriculture and agricultural resources. A change in language is proposed for 1966 to provide a single amount for titles I, II and IV, Public Law 480 programs in lieu of separate amounts for each title. The volume of program operations under titles I and II is limited by the provisions of such law. The amounts. appropriated do not constitute a limitation on these operations. This change to a single amount would 33,987 provide flexibility in financing these programs. They are directly influenced by such unpredictable factors as international negotiations, economic conditions in foreign countries, and availability of transportation facilities. Funds will be allocated to the several titles on the basis of need rather than highly tentative estimates. The statutory limitations on the total amount of agreements which may be entered into under title I and on the volume of operations under title II would continue to be observed. Also, the details of estimated activity will be shown in the budget presentation so that full information on planned program operations will be available. 33.987 84 2,579 41,650 37.351 36,650 1 Selected resources as of June 30 are as follows: Unpaid undelivered orders, 1963, $180 thousand (1964 adjustments, -$136 thousand); 1964, $0; 1965, $0. 1965 1966 estimate estimate 34,863 34,339 32,295 1,340 1,565 1.692 -36,203 -35,904 -33,987 FOREIGN ASSISTANCE PROGRAMS AND SPECIAL EXPORT PROGRAMS General and special funds: PUBLIC LAW 480 For expenses during fiscal year [1965] 1966, not otherwise recoverable during such year, and unrecovered prior years' costs, including interest thereon, under titles I, II, and IV of the Agricultural Trade Development and Assistance Act of 1954, as amended (7 U.S.C. 1701-1709, 1721-1724, 1731-1736) $1,658,000,000, to remain available until expended, as follows: (1) Sale of surplus agricultural commodities for foreign currencies pursuant to title I of said Act, $1,612,000,000; (2) commodities disposed of for emergency famine relief to friendly peoples pursuant to title II of said Act, $220,453,000; and (3) long-term supply contracts pursuant to title IV of said Act, $35,000,000]. (7 U.S.C. 1431, 1431b, 1431d, 1697, 1731-1733, 1735-1736; 33 U.S.C. 701b note; 78 Stat. 1035-1038; Department of Agriculture and Related Agencies Appropriation Act, 1965.) Program and Financing (in thousands of dollars) Identification code Program by activities: 1. Sale of surplus agricultural commodities A number of laws provide for the facilities of the Commodity Credit Corporation to be used in carrying 05-48-2274-0-1-154 out programs for exporting agricultural commodities. These laws also authorize appropriations to be made to cover costs of such programs. Advances are made to the Corporation for estimated costs. If the amounts appropriated are not adequate, the Corporation finances authorized costs in excess of the appropriations pending repayment from later appropriations. On the other hand, any amounts paid to the Corporation which are not used in a particular year will reduce appropriations needed for these programs in a year. FOREIGN ASSISTANCE PROGRAMS 10 ...1,452,000 1,612,000 1,144,000 2. Commodities disposed of for emergency 3. Long-term supply contracts (title IV).... Total program costs, funded-obliga- Financing: 215,451 220,453 298,500 52,515 35,000 215,500 1,719,966 1,867,453 1,658,000 40 New obligational authority (appropriation) - 1,719,966 1,867,453 1,658,000 Included in this category are the following activities currently being carried out under the Agricultural Trade Development and Assistance Act of 1954, Public Law 480, 83d Congress, as amended: Sale of surplus agricultural 90 commodities for foreign currencies (title I) (7 U.S.C. i 750-100-65-11 |