OFFICE OF THE ADMINISTRATOR-Continued Public enterprise funds-Continued Revenue.. Expense application for a rehabilitation loan on residential property will be referred to a local HHFA Rehabilitation Loan Office. The appropriate FHA insuring office will make technical examinations of applications and inspect the work under approved loans, and the Federal National Mortgage Association will arrange for and supervise loan servicing by private institutions. The Small Business Administration will process business loan applications and handle loan closing and servicing. Loan approvals are estimated at $1.8 million during the current year (assuming the supplemental appropriation is available for the final quarter of the year) and $48.3 million in the budget year. Loan disbursements are estimated at $0.8 million and $23 million for the respective years. Operating results. Current operating losses for the initial operating period are estimated at $199 thousand in the current and $2,464 thousand in the 1966 fiscal year, chiefly attributable to administrative expenses and an allowance for losses estimated for the purpose of this budget at 3% of outstanding loans. Revenue, Expense, and Retained Earnings (in thousands of dollars) 1965 1966 estimate estimate REHABILITATION LOAN FUND-Continued 1964 actual Total Government equity.. 5 204 -199 -199 9,204 776 9,981 Analysis of Government Equity (in thousands of dollars) 10,180 10,180 -199 9,981 800 8,405 776 9,981 25 2,489 -2,464 -199 -2,663 10,180 41,800 51,980 -2,663 49.317 22,050 4,230 23,037 49,317 1 Changes in this item are reflected on the program and financing schedule. Identification code 25-05-4036-0-3-551 25.3 Payment to "Salaries and expenses," Office of the Administrator.. 33.0 Investments and loans... 99.0 Total obligations.. 10 26,277 70 23,037 49,317 10 11 14 Identification code 25-05-4040-0-3-552 Object Classification (in thousands of dollars) 1964 actual 21.98 24.98 27 COMMUNITY DISPOSAL OPERATIONS Program by activities: COMMUNITY DISPOSAL OPERATIONS FUND Program and Financing (in thousands of dollars) Operating costs, funded: Predisposition expenses. Total operating costs, funded.. Financing: Receipts and reimbursements from: Loans repaid.... Interest and other revenue.. Unobligated balance available, start of year. Unobligated balance available, end of 71 Obligations affecting expenditures.. 72.98 Obligated balance, start of year. 74.98 Obligated balance, end of year. 90 Expenditures year Capital transfer to general fund.. New obligational authority.. Relation of obligations to expenditures: Total obligations............ Receipts and other offsets (items 11-17) Cash transactions: Gross expenditures.... Applicable receipts. 1964 actual 382 375 205 580 962 1965 1966 estimate estimate 962 -1,015 -53 267 -179 35 180 1,800 1,600 44,250 1,780 46,050 1,067 -1,032 1965 1966 estimate estimate 300 220 520 520 -12 -179 -213 -273 -350 -200 -611 -2,792 -1,845 -1,870 1,845 1,870 1,950 1,000 1,500 520 -545 1,500 -25 179 -179 -25 175 385 560 2,060 2,060 -3,640 -1,580 179 -348 -1,749 520 1,886 -545-3,635 The Atomic Energy Community Act of 1955 (42 U.S.C. 2301), providing for the disposition of Governmentowned properties at Oak Ridge, Tenn., and Richland, Wash., was amended in 1963 (76 Stat. 664) to provide for the disposal of federally owned properties at Los Alamos, N. Mex. Sales and financing functions are delegated to the Housing and Home Finance Agency. Budget program. At the beginning of the current year, only 2 properties with an appraised value of $72 thousand remained out of the 12,000 properties appraised at $80 million in the Oak Ridge and Richland disposal programs. There also remained $3.9 million in purchase money mortgages out of the $33 million written in the course of sales. Proceeds of real estate sales.. Predisposition work is underway at Los Alamos, Government equity-Continued covering the planning, zoning, platting, and property Adjustment to retained earnings Deficit.... Operating results.-The deficit in the fund is expected to increase from $13.1 million in 1965 to $13.4 million in 1966. This deficit is due primarily to the discounts provided by law to purchasers of property who have statutory priority. Revenue, Expense and Retained Earnings (in thousands of dollars) 1964 actual 611 -225 386 12 -12 213 580 -367 2,024 5,985 226 200 200 520 560 -320 -360 -320 -360 -12,758 -12,739 -13,059 739-12,739 -13,059 -13,419 19,273 225 1965 1966 estimate estimate -1,000 2,049 47 3,641 5,737 1965 1966 estimate estimate 226 3,090 -3,090 18,498 2,298 52 4,791 7,141 400 18,570 Financial Condition (in thousands of dollars)-Continued 1963 actual 72 3,090 1964 actual 6,515 5,759 Object Classification (in thousands of dollars) 1964 actual 25.1 Other services. 25.3 Payments to "Salaries and expenses,' Office of the Administrator..... 18,498 18,570 -12,739 -13,059 5,511 2,792 1,845 1,870 1965 estimate 375 205 382 962 1965 estimate URBAN TRANSPORTATION ACTIVITIES 300 220 520 1966 estimate 20,160 -13,419 6,741 [ADMINISTRATIVE EXPENSES, MASS TRANSPORTATION 1,950 4,791 6,741 1966 estimate 175 385 1,500 2,060 URBAN MASS TRANSPORTATION GRANTS For grants as authorized by the Urban Mass Transportation Act of 1964 [(78 Stat. 302)], as amended (49 U.S.C. 1601 et seq.), to remain available until expended, [$60,000,000 $150,000,000 for the fiscal year 1966, and $150,000,000 for the fiscal year 1967. (Supplemental Appropriation Act, 1965.) URBAN MASS TRANSPORTATION LOANS For loans as authorized by section 3 of the Urban Mass Transportation Act of 1964 [(78 Stat. 302), $5,000,0001, as amended (49 U.S.C. 1601 et seq.), $10,000,000. (Supplemental Appropriation Act, 1965.) ADMINISTRATIVE EXPENSES, URBAN TRANSPORTATION ACTIVITIES For necessary expenses to carry out the provisions of the Urban Mass Transportation Act of 1964 [(78 Stat. 302), $187,500], as amended (49 U.S.C. 1601 et seq.), $550,000. (Supplemental Appropriation Act, 1965.) [For necessary expenses in connection with mass transportation demonstration projects, as authorized by section 103(b) of the Housing Act of 1949, as amended, $100,000.] (Independent Offices Appropriation Act, 1965.) APPENDIX TO THE BUDGET FOR FISCAL YEAR 1966 OFFICE OF THE ADMINISTRATOR-Continued Subtotal. Administrative reservations, start of year. Adjustment in selected resources (grant obligations) Total capital outlay obligations. Total obligations... Financing: Receipts and reimbursements from: Non-Federal sources: Loan repayments... Revenue.. Comparative transfer from Urban renewal fund. New obligational authority: Grant appropriation.... Loan appropriation Fund balance.. Unobligated balances transferred (12 U.S.C. 1749; P.L. 87-70; P.L. 87-365) from: Urban renewal fund: Capital grants: Contract authorization.. Public facilities loans fund: Authorization to spend public debt receipts.. Fund balance. Unobligated balance available, end of year: Fund balance.. New obligational authority. URBAN MASS TRANSPORTATION FUND Administrative expenses. Proposed supplemental due to civilian pay increases_ Relation of obligations to expenditures: Total obligations. Receipts and other offsets (items 11-17) Obligations affecting expenditures. 70 72.98 Obligated balance, start of year. Obligated balance transferred (12 U.S.C. 1749; PL 87-70; PL 87-365) from: 73.98 Urban renewal fund-Capital grants. Public facility loans fund, receivables in excess of obligations. 74.98 Obligated balance, end of year.. Cash transactions: Gross expenditures. Expenditures excluding pay increase supplemental 1 Balances of selected resources are identified on the statement of financial condition. Federal assistance to public bodies to assist in the financing of urban transportation facilities and equipment and for demonstration projects designed to assist in the reduction of urban transportation needs and the improvement of urban transportation service was authorized by the Urban Mass Transportation Act of 1964 (49 U.S.C. 1601). Applicants must show that facilities to be financed under the program are necessary for a program for a unified or officially coordinated public transportation system in the urban area, and are necessary for the sound, economic, and desirable development of the area. Under the Urban Mass Transportation Act of 1964 the grant authorization for appropriation, currently $75 million, will increase by $150 million in 1966. The Act further provides that $10 million of the grant authorization shall be available in each year (1965-66) for financing demonstration projects. Consolidated into the Urban Mass Transportation fund during the current year are the fund balances, unexpended authorizations, and other financial and budgetary data for the mass transportation demonstration grant program authorized under the Housing Act of 1961 which were formerly shown under Urban renewal fund, and Administrative expenses, mass transportation demonstrations. The transportation facility loan program as authorized in the Housing Act of 1961, which expired on June 30, 1963, was reactivated by the Urban Mass Transportation Act of 1964. Loan projects are financed by annual appropriations. Financial and budgetary data for transportation facility loans formerly shown under Public facility loans are consolidated with the Urban mass transportation fund. Facility grant program.-Net grant reservations are estimated at $50 million for the current year and $140 million for the budget year. Grants are available for up to two-thirds of "net project cost"-that portion of total project cost which cannot reasonably be financed from revenues. The applicant's share must be in cash from sources other than Federal funds or anticipated revenues. A reservation is made after preliminary review of an application filed to determine the general eligibility and feasibility of a project. The reservation assures availability of grant funds to the applicant at the completion of Agency review of the final application. Reservations are converted into grant contracts after detailed planning, filing of a final application, and comprehensive Agency review of engineering, financing, and legal aspects of proposed projects. Principal workload items are set forth in the following table: 1965 estimate 1966 estimate Preliminary applications: Disapproved or withdrawn.. 100 25 45 40 30 Demonstration program.-Net reservations of $10 million are estimated for both the current and budget years. Federal grants defray two-thirds of the net cost for projects which test and demonstrate new ideas and Gross grant reservations... Final applications: Received.. Disapproved or withdrawn. Gross grant approvals...... 50 10 15 methods for improving mass transportation systems and service. Types of eligible projects include changes in frequency and other service improvements; improvements in forms of mass transportation traffic flow; testing new and improved technology; and coordination of various modes of urban transportation service. Facility loan program.-Net loan reservations are estimated at $5 million for the current year and $10 million for the budget year. Loans under the program are designed to assist transit operations which are able to finance needed improvements and extensions of their transportation facilities out of revenues, but which cannot borrow the necessary funds on reasonable terms. Interest rates are based on a statutory formula and limited to the higher of either 3% or 0.50% above the average interest rate on all interest-bearing obligations forming part of the Federal debt. The 1965 rate is 4%. Financing.-Budgetary expenditures for the program total $16.2 and $47.9 million for 1965 and 1966 respectively. Revenue, Expense, and Retained Earnings (in thousands of dollars) 12 2 10 |
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