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8,070

Obligations (from program and financing)... 5,795 4,840 1,535 Summary of Sources and Application of Funds (in thousands of dollars) Revenues and other receipts (from program and financing)--

2,767 7,773

2,210 Obligations (from program and financing)... 5,968 12, 196

Revenues and other receipts (from program and Budget expenditures.. 3,028 -2,933 -675 financing).

9,723 8,972

-3,754 Budget expenditures..

3,224 Revenue, Expense, and Retained Earnings (in thousands of dollars)

8,700

-630

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REVOLVING AND MANAGEMENT FUNDS Con.

Summary of Sources and Application of Funds (in thousands of dollars)- Continued

Public enterprise funds-Continued

1962 1963 1964

actual estimate estimate DEFENSE PRODUCTION GUARANTEES, AIR FORCE-Continued

Revenues and other receipts (from program
Financial Condition (in thousands of dollars)

and financing).

653 660 672 Decrease in accounts receivable, net.

5

2
1961 1962 1963 1964
actual actual estimate estimate Applicable receipts..-

658 662 672 Assets:

Budget expenditures.

-3 -2

8 Treasury balance.

10,179 13,933 | 10,709 11,339 Loans receivable, net.

3,446 245 4,152 4,152 Total assets....

The Naval Academy laundry is operated for the benefit 13,625 14,178 14,861 15,491

of midshipmen and other military personnel of the Naval Government equity:

Academy. The charges collected for laundry service are Retained earnings.. 13,625 14,178 14,861 15,491 available for operating expenses (10 U.S.C. 6971(b)).

Revenue, Expense, and Retained Earnings (in thousands of dollars) Analysis of Government Equity (in thousands of dollars)

1963 1964 Unobligated balance... 10.179 13,933 10,709 11,339

estimate estimate Invested capital and earnings ..

3,446 245

4,152
Revenue..

653

660 Total Government equity-13,625 14,178 14,861 15,491 Expense..

659
Net income for the year..

18
1

7 Note.-.-U.S. share of guarantees and commitments outstanding as of June 30,

Retained earnings, start of year.

221 211
is as follows: 1961, $112,730 thousand; 1962, $52,195 thousand: 1963, $58,627
thousand; and 1964, $58,600 thousand.

Prior year adjustment affecting fixed assets. -28
Object Classification (in thousands of dollars)

Retained earnings, end of year..

211 211 219

1962 actual

4,152

672

635

665

211

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This fund finances the central procurement of civil defense materials toward which contributions to the States are authorized on a matching fund basis. The fund is reimbursed for purchases from Office of Civil Defense appropriations and from funds provided by the States (65 Stat. 61):

It is anticipated that the increased emphasis initiated by the States and local governments during 1962 for civil defense will be further expanded in the coming years. It is expected that under this expanded program greater emphasis will be directed toward the establishment of emergency operating centers and the provisioning of these centers. Hence, this estimate reflects increased obligational requirements, since the civil defense procurement fund will be utilized for the central procurement of equipment and supplies necessary under these activities.

Financial Condition (in thousands of dollars)

634

660

680

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179,881 177,562

1962 actual

REVOLVING AND MANAGEMENT FUNDS—Con.

Costs and Obligations (in thousands of dollars) -Continued
Intragovernmental funds-Continued

1962
1963

1964

actual estimate estimate ARMY STOCK FUND-Continued

Program Continued
Program and Financing (in thousands of dollars)-Continued

Costs by material category: Operating

costs, fund d—Continued
1962
1963 1964

Quartermaster general supplies. 94,366 97,848 83,398 actual estimate estimate Transportation surface supplies.. 11,526

10,495 12,005 Aircraft parts.

55,565 63,130 Program-Continued

Medical-dental supplies.

30,956 29,673 34,428 Obligations by material category-Con.

Missile and rocket parts...

110,991 69,179 Missile and rocket parts.

66,200 59,800

Ordnance tank-automotive supplies. 360,874 345,814 201,486 Ordnance tank-automotive supplies. 234,720 159,100 137,700

Other ordnance supplies.

217,804 171,811 121,403 Other ordnance supplies.

87,629 72,484 85,227
Petroleum products.

115,999 109,220 108,493 Petroleum products..

122,278 110,700 107,600
Signal supplies.

94,739 152, 490 125,000 Signal supplies...

134,152 118,900 129,300 Zone of the interior installations Zone of the interior installations division...

181, 480
division...

175,031 171,140 182, 126 Single manager activities.

729,032 Subtotal...

1,801,688 1,744,306 1,753,476 Obligations for single manager activities (de

Total operating costs, funded.. 2,638,344 2,144,122 1,851,307 tail reflected under "Defense stock fund") -- 749,188

Decrease in selected resources 1 -1,810,832 -418,543 -202, 129

Adjustment in selected resources: Total program (obligations). 2,550,877 1,744,306 1,753,476 Inventory decapitalized..

1,323,661 18,728 104,299 Sales return credits canceled..

-2,008 Financing:

Unpaid undelivered orders transSale of goods:

ferred to “Defense stock fund”.- 401,713 Clothing and equipage.

161,556 152,849 161,600 Subsistence.

525,397 600,200 597.000

Total obligations.--

2,550,877 1,744,306 1,753, 476 Engineer supplies.

81,430 97,500 72,700 Chemical supplies.

8,215 12.000 16,500

I Balances of selected resources are identified on the statement of financial Defense supply service..

3,444 3,700 3,700 condition. Quartermaster general supplies.

90,915 82,900 85,200 Transportation surface supplies.

11,662 9,300 10,280 Summary of Sources and Application of Funds (in thousands of dollars) Aircraft parts ---

60,700 68,130 Medical-dental supplies. 30,403 32,250 34,333

1963

1964 Missile and rocket parts. 80,000 80,000

estimate estimate Ordnance tank-automotive supplies.

195,218 180,000 170,000 Other ordnance supplies.

89,427 97,053 106,575 Petroleum products.

109,186 111,860 108,360

Obligations (from program and financing) ----2,550,877 1.744,306 1.753,476 Signal supplies

107,225 125,225 126,825

Decrease in gross unpaid obligations and undisZone of the interior installations division.. 176,205 175, 101 184,039

tributed charges..

6,184 29,389 24,689 Undistributed receipts from surplus prop

Gross unpaid obligations transferred (-) to erty disposal and other...

8,914 8,000
"Defense stock fund"..

-438,588
Subtotal...--
1,599, 197 1,828,638 1,832,242

Gross expenditures.

2,118,472 1,773,695 1,778, 165 Sales for single manager activities (detail reflected under "Defense stock fund”).

Sales (from program and financing) 679,893

2,279,090 1,828,638 1.832.242

Increase (-) or decrease in accounts receivTotal sales.---12,279,090 1,828,638 1.832, 242 able and undistributed credits..

69,881 56,057 -377 Increase or decrease (-) in unfilled customer

Accounts receivable transferred (-) to “Deorders:

fense stock fund".

-109,391 Military assistance orders..-

9,657-88,000 -16,100 Other...

-10,777 -43,652 -21,812
Applicable receipts.

2,239,580 1,884,695 1,831,865 Unobligated balance brought forward. 485, 177 256,466 9,146 Unobligated Treasury balance transferred

Budget expenditures..

-121,108 -111.000 -53,700 to (-)"Military personnel, Army" (75 Stat. 365 and 76 Stat. 318) and annual appropria

This fund finances inventories of consumable supplies, tion act....

-240,000 - 200,000 - 50,000 “Defense stock fund” (10 U.S.C. 126).

minor items of equipment, and repair parts throughout

-45,000 Recovery due to transfer of net obligations to

the Army depot supply system, at certain stations in the “Defense stock fund".

329,198

continental United States, and in most of the depots of Unobligated balance carried forward (-).. -256, 466 -9,146

the major overseas commands. Material is purchased

and held at these locations for resale and for mobilization Financing applied to program.

2,550,877 1,744,306 1,753,476

reserve (10 U.S.C. 2208).

Supply and financial operations of the fund are centrally Costs and Obligations (in thousands of dollars)

directed and controlled by the Department of the Army.

In the financial statements the 500,000 items under the 1962 1963

1964 fund are classified into 15 categories which are managed actual estimate estimate

through the Army Materiel Command, the Surgeon

General, and the Continental Army Command. In 1963, Program: Costs by material category: Operating

the fund was extended to include certain aircraft parts and costs, funded:

missile and rocket parts, and the statements include estiClothing and equipage..

152,823 153,659 161,669 mates for these items. Reflected in 1963 is the extension Subsistence.. 526,221 612,200 597,000

of the fund to Korea and Okinawa for subsistence and Engineer supplies

115,542 107,395 76,981 Chemical supplies..

10.050 12,121 11,309 clothing. The 1963 estimates also reflect a realinement Defense supply service..

3,383 3,700 3,700 | whereby aircraft, missile, and rocket parts are now in

0__7,000

1961 actual

1963 estimate

1964 estimale

actual

estimale

estimate

cluded in the stock fund and high cost repair parts are

1962

actual financed from Procurement of equipment and missiles, Clothing and equipage: Army. With the exception of these high cost repair Operating and other stocks.

22.7 37.6 19.7 16.6 Mobilization reserve stocks...

58.6 71.0 parts, the stock fund now finances the initial procurement

103.6 114.0 Long supply.

7.9 14.7 11.4 7.7 of all centrally controlled supply items, repair parts, Subsistence: and minor equipment.

Operating and other stocks..

78.9
87.8

74.6 74.6 The change in capitalized inventories of $1,321.7 million Mobilization reserve stocks.

24.9 35.9 59.1 59.7 Long supply.

.5 .3 in 1962 was due principally to decapitalization of single

.2

Engineer supplies: manager material categories to the Defense stock fund.

Operating and other stocks.

102.3 87.0 66.2 57.8 The change projected for 1963 is a decrease of $18.7 Mobilization reserve stocks.

151.4 129.1 120.6 121.5 million consisting of decreases of $454.5 million due to the Long supply

69.9 50.8 25.4 19.0 realinement program mentioned above and transfers to

Chemical supplies:
Operating and other stocks...

6.0 5.5 8.2 10.1 the Defense stock fund, partially offset by increases of

Mobilization reserve stocks.

17.7 16.8 23.2 31.3 $435.8 million. The increases include $392.5 million in Long supply.

2.8

2.1 .7 .4 aircraft, missile, and rocket parts, and $27.6 million through Defense supply service: Operating and

other stocks...

.7 .5 1.0 1.0 extension of the stock fund to cover subsistence and

Quartermaster general supplies: clothing in Okinawa and Korea. The change projected

Operating and other stocks.

46.5 45.6 40.7 29.7 for 1964 is a decrease of $104.3 million resulting primarily Mobilization reserve stocks.

80.1 83.7 107.3 115.1 from anticipated transfers to the Defense stock fund. Long supply----

20.8 14.8 7.2 4.6 Changes by category are as follows (in thousands of

Transportation surface supplies:
Operating and other stocks.

17.3 22.1 9.7 9.3 dollars):

Mobilization reserve stocks..

27.4 24.8 23.9

27.4 1962 1963

1964
Long supply -

8.2 4.0 .3

Aircraft parts: Clothing and equipage.. -8 12,971

69.3 Subsistence..

61.8 -72

Operating and other stocks. 29,301

17.2 Engineer supplies.

25.8 -15,327 -52,688

Mobilization reserve stocks.

-18,689 Chemical supplies..

2.0 909 171 -19

Long supply...

Medical-dental supplies: Defense supply service..

8.8 9.1 Operating and other stocks.

8.4 Quartermaster general supplies.

8.2 -4,313 -8,501

30.4 Mobilization reserve stocks.

33.7 42.4 46.0 Transportation surface supplies. 2,174 -16,027

1.6 Long supply-

.9 .8 Aircraft parts..

.7 120,729 Medical-dental supplies..

-847 -478
Missile and rocket parts:

53.4 Missile and rocket parts.

61.9 271,801

Operating and other stocks... -6,580

10.8 Mobilization reserve stocks.

11.2 Ordnance tank-automotive supplies. 5,196 -329,244 -31,735

110.6 Other ordnance supplies.

Long supply.

€0.5 -10,542 -31,163 Petroleum products.

-241 -2,810
Ordnance tank-automotive supplies:

254.4 287.1 147.9

Operating and other stocksSignal supplies.

120.9 17,222 -14,060 -45,000

92.0 82.0 60.6 Mobilization reserve stocks -

60.9 Zone of the interior installations division.. -98 1,270 -2,276

666.6 Long supply..

416.0 120.1 77.2 Single manager change in capitalized inventories.

-1,317,715

Other ordnance supplies:
Operating and other stocks.

414.4 115.2 86.0 73.1 Mobilization reserve stocks

43.8 41.9 36.3 40.1 Inventory donated to (-) other ac

28.1 Long supply.

172.0 79.0 50.9 counts.

-1,323,661 -18,728 -104,299 Decrease (-) in undelivered purchases to

Petroleum products:

25.0 Operating and other stocks..

28.8 26.1 24.0 -52 be paid from other accounts.

64.0 Mobilization reserve stocks.

66.3 66.6 68.8 2,008 Sales return credits canceled..

Long supply.-

6.8 4.3 4.3 3.8 Net change in capitalized inventories. -1,321,705 – 18,728 -104,299

Signal supplies:
Operating and other stocks...

93.1 105.8 110.1 97.0 Mobilization reserve stocks

53.3 61.8 74.1 76.7 Long supply

113.5 124.7 70.9 34.7 Budget program.-Obligations of $2,551 million in 1962

Zone of the interior installations division: included $749 million for single manager activities now Operating and other stocks..

25.0 26.9 26.8 25.1 financed under the Defense stock fund. Except for this, Mobilization reserve stocks..

6.5 7.6 8.9 8.9 Long supply----

2.8 3.8 3.0 obligations declined by $48 million from 1962 to 1964, the

3.0

Summary: net of $124 million in increases to cover aircraft, missile,

Operating and other stocks..

1.095.0 859.1 748.1 671.1 and rocket parts offset by decreases of $80 million for aug Mobilization reserve stocks.

650.3 654.5 754.6 808.2 Long supply.

929.5 808.3 mentation of war reserves and $92 million for operating

435.9 282.6 stocks.

Subtotal.

2,674,8 2,321.9 1,938.6 1,761.8 Continued emphasis is being placed on maximum utili- Single manager inventories (detailed under zation of long-supply stocks and on conservative procure Defense stock fund).

1,489.0 ment of material in relation to sales requirements. Ex

Total inventories..

4,163.8 2,321.9 1,938.6 1,761.8 cluding the single managers, obligations for operating stocks were 5% greater than sales in 1962; for 1963 and 1964 obligations for operating stocks are forecast at 91% During the 3 years inventories are forecast to decline by and 93% of sales, respectively.

$2,402 million. Of this, $1,445 million will result from The program includes procurement for augmentation of decapitalizations, the net of transfers of items to the war reserve stocks of $130.3 million in 1962, $73.5 million Defense stock fund partially offset by inclusion of airin 1963, and $50 million in 1964. The budget program craft, missile, and rocket parts in the fund. The remainprovides for year-end inventories as follows (in millions of ing reduction of $957 million is the net of $365 million in dollars):

sale of peacetime stocks without replacement and $875

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