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PART II

DETAILED ESTIMATES FOR TRUST FUNDS

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EXPLANATION OF ESTIMATES FOR TRUST FUNDS

Part II contains detailed schedules and explanatory | funds, instead of being taken into the tables as receipts, statements on the various trust funds, together with a are deducted from expenditures. summary table covering the trust funds, the deposit funds, and certain Government-sponsored enterprises. It ex

OBLIGATIONAL AUTHORITY FOR TRUST FUNDS cludes the detail on trust fund programs which require annual action by Congress (shown in part I) and the detail

Most trust fund receipts are made available for use on the District of Columbia municipal government funds by permanent law, without requiring further action by (contained in a separate budget volume).

Congress. In a few cases receipts of trust funds can be

obligated and expended only in accordance with appropriTRUST AND DEPOSIT FUNDS DISTINGUISHED

ations enacted by Congress from year to year. Examples

are the funds of the U.S. Soldiers' Home and the general The funds which are covered in this part of the budget municipal revenues of the District of Columbia. In the are of two types as follows:

case of the Highway trust fund, Congress controls expendiTrust funds are those funds established to account for tures by appropriations annually, but it grants contract receipts which are held in a fiduciary capacity by the authorizations in advance thereof. In a few other cases, Government for use in carrying out specific purposes and the trust receipts are permanently available for program programs in accordance with a trust agreement or a purposes, but Congress imposes annual limitations on statute. Within the category of trust funds, there is a administrative expenses. subcategory of trust revolving funds, which are trust funds used to carry on a cycle of business-type operations, in

DEPOSIT FUND EXPENDITURES cluding certain corporations which are partly owned by the Government and partly by private interests.

Deposit fund expenditures are shown in the summary Deposit funds are those funds established to account for table for this part of the appendix, but are not shown in the collections that are either (a) held in suspense temporarily details. These expenditures are on a net basis; that is, and later refunded or paid into some other fund of the the collections are deducted from checks issued, and the Government, or (b) held by the

Government as banker or resulting figure is shown as an expenditure. Checks issued agent for others, being paid out in lump sums at the include transactions to move money into other funds, as direction of the owner. Such funds are not available for well as refunds and the return of money to depositors. paying salaries, expenses, grants, or other expenditures When the collections are larger than the gross expendiof the Government.

tures, the amount shown as an expenditure is a negative Five Government-sponsored enterprises are also covered item; in the summary table. While their money on deposit

GOVERNMENT-SPONSORED ENTERPRISES with the U.S. Treasurer is technically handled as a deposit fund in each case, the enterprises are set forth under a Expenditures of Government-sponsored enterprises heading separate from the deposit funds generally. One appear in the summary table for this part of the appendix, of the enterprises is without capital stock (Federal Deposit but are not shown in the details. These expenditures are Insurance Corporation); two have stock which is largely on a net basis, and are equal in amount to the borrowing owned by the Government but partly privately owned by such enterprises through issuance of their own debt, (Banks for Cooperatives and Federal Intermediate Credit and to their disinvestments in the U.S. securities. A Banks); and two are privately owned although Govern- negative expenditure for one of these enterprises indicates ment sponsored (Federal Land Banks and Federal Home either the deposit of monies used for the repayment of Loan Banks).

debt or for investment in U.S. securities. The financial While the transactions in these groups of funds are a transactions of Government-sponsored enterprises which part of the financial program of the Government, trust are handled outside the accounts of the U.S. Treasurer and deposit funds are reserved for the purposes of the are not included. trust or the terms of the deposit; hence these transactions are excluded from the administrative budget totals.

DETAIL OF TRUST FUND ESTIMATES
TRUST FUND RECEIPTS AND EXPENDITURES

The detailed material in part II covers the trust funds

which do not require annual action by Congress. ConReceipts.Like budget receipts, trust fund receipts are solidated schedules are used for the smaller trust funds based upon collections received and deposited, including of each bureau or independent agency. U.S. Government securities received in lieu of cash and The material here follows the general format of the contributions to the trust funds from the general fund. similar material in part I, with the principal exception Reported receipts exclude borrowing and the sale or that these schedules show receipts in place of showing redemptions of U.S. Government securities.

appropriations. In cases where the receipts are not Expenditures.—Like budget expenditures, trust fund permanently appropriated as the money is collected, the expenditures are stated on a checks-issued basis, less schedules identify the portion of the unobligated balances refunds collected. The repayment of borrowing and the on hand which is appropriated and the portion which purchase of U.S. Government securities are excluded is unappropriated. Also, no appropriation language from the expenditure figures.

appears here, and the narrative statement of program Trust revolving funds.—The small group of funds which and performance usually consists only of an explanation constitute trust revolving funds are reported on a net of the sources of money for the fund, the purposes for expenditure basis. The collections of trust revolving which it is authorized to be spent, and the legal citations.

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TRUST FUNDS

1962

1963

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actual

774

LEGISLATIVE BRANCH

the National Union Catalog, 1958-62 (quinquennial LIBRARY OF CONGRESS

edition) was started. Work was also continued on a

study of automation possibilities for the storage and LIBRARY OF CONGRESS GIFT AND Trust Fund INCOME ACCOUNTS retrieval of information in research libraries. Program and Financing (in thousands of dollars)

4. Information service on copyright materials.-De

positors were supplied with preliminary information

1964 relating to copyright materials in selected subject fields. actual estimate estimate Obligations by major source of funds for 1962 and esti

mated for 1963 and 1964 are as follows (in thousands of Program by activities: 1. Acquisition of library materials.

46

dollars):

47 50 2. Reader and reference services.. 1,098 1,126 1,140

1962 actual 1963 estimate 1964 estimate 3. Organization and control of the collections. 269 277 285 Library of Congress gift fund....

408
400

405 4. Information service on copyright materials. 1

5
Service fees, Library of Congress... 805

840

857

Cataloging project, Copyright Office, Total obligations 1,414 1,455 1,475 Library of Congress..

1

5

Library of Congress trust fund, income Financing:

from investment account...

23
19

20 Unobligated balance brought forward..

1,222 1,249 1,171 Payment of interest on permanent loan Receipts from:

account, Library of Congress...

176
190

192 Library of Congress gift fund.

418 350 350 Payment of interest on bequest of GerIncome from investment account.

18
17

17 trude M. Hubbard, Library of ConInterest on bequest of Gertrude M. Hub

gress...

1

1 bard...-

1
1

1 Interest on permanent loan.

179 179 179
Total obligations.---

1,414 1,455 1,475 Service fees

827 830 830 Unobligated balance carried forward (-). -1,249 -1,171 -1,073

Object Classification (in thousands of dollars)
Total financing

1,414
1,455
1,475

1962

1963 1964

estimate estimate This schedule covers (1) funds received as gifts for

11 Personnel compensation: immediate expenditure and receipts from the sale of

Permanent positions.

738

793 recordings and photoduplication materials financed from Other personnel compensation.

56 50 50 capital originally received as gifts, (2) income from investments held by the Library of Congress Trust Fund Board,

Total personnel compensation..

794 824 843

52 12 Personnel benefits....

55

56 and (3) interest at the rate of 4% per annum paid by the

21 Travel and transportation of persons.

21
21

21 Treasury on the principal funds deposited therewith as 22 Transportation of things...

2
2

2 described under Library of Congress trust fund, principal 23 Rent, communications, and utilities.

24 28

28 accounts (2 U.S.C. 156-160; 31 U.S.C. 725s; 37 Stat. 319). 24 Printing and reproduction..

30
30

30 25 Other services.

198 200 200 1. Acquisition of library materials.-During 1962, this

26 Supplies and materials.

173 175 included the procurement of manuscripts, Hispanic ma 31 Equipment..

91
91

91 terials, fine prints, books and other library materials from 41 Grants, subsidies, and contributions..

12
12

12 certain foreign areas for the Library of Congress, and the

44 Refunds..

17
17

17 acquisition and distribution of Government documents

Total obligations...

1,414 1,455 1,475 for the Library of Congress and cooperating libraries.

2. Reader and reference services. These services during 1962 included the preparation of bibliographies, indexes,

Personnel Summary digests, and check lists; lectures; surveys of bibliographic services; poetry readings; musical concerts; furtherance Number of employees at end of year.

156 150 150 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,

LIBRARY OF CONGRESS TRUST FUND PRINCIPAL ACCOUNTS libraries, and other institutions, and to the general public.

Program and Financing (in thousands of dollars) 3. Organization and control of the collections.-During 1962, work continued on the preparation of the Dewey

1962 1963

1964 Decimal Classification, 17th edition, and the Union List of

actual estimate estimate Serials, 3d edition, the preparation of an index to Dissertation Abstracts, and the preparation of printed catalog Financing:

Unobligated balance brought forward..

4,483 4,483 cards for additional manuscript collections located in the

4,483

-4,483 Unobligated balance carried forward (-)...

-4,483 -4,483 Library of Congress and other institutions. The National Union Catalog of Manuscript Collections, 1959–61, was Total financing completed and sent to the printer. The preparation of

LEGISLATIVE BRANCH–Continued

LIBRARY OF CONGRESS-Continued

During 1962 the number of judges participating in the system increased from 350 to 409. This increase was due to the appointment of additional judges pursuant to the act of May 19, 1962. On June 30, 1962, there were 139 survivor annuitants on the roll as compared with 131 on June 30, 1961. The estimates for 1963 and 1964 contemplate further increases in judicial participation and in the number of survivor annuitants.

Object Classification (in thousands of dollars)

LIBRARY OF CONGRESS TRUST FUND PRINCIPAL ACCOUNTS—Con.

This schedule covers two principal accounts-permanent loan and bequest of Gertrude M. Hubbard.

Both funds represent gifts or bequests in cash, which have been deposited with the Treasurer of the United States as permanent loans to the United States, the interest upon which, at 4% per annum, payable semiannually, is available to the Librarian for the purposes specified in each case.

As of June 30, 1962, the principal in the permanent loan account, which shall not exceed the sum of $10 million (2 U.S.C. 158; 31 U.S.C. 725s, Public Law 87-522), was distributed as follows (in thousands of dollars) :

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The additional principal sum of $20 thousand, repre

1962 1963 1964

actual estimate estimate senting the bequest of Gertrude M. Hubbard, is for the purchase of engravings and etchings (37 Stat. 319). Program by activities:

The use of the income from these accounts is described 1. Advances, Foreign Assistance Act. 495,297 747,852 841,000 under Library of Congress gift and trust fund income

2. Advances for economic assistance..

120 508 accounts.

21
3. Philippine assistance...
4. Technical assistance, U.S. dollars ad-

vanced from foreign governments... 1,075 2,015 2,500 THE JUDICIARY

Total obligations...

496, 492 750,396 843,500 JUDICIAL SURVIVORS ANNUITY FUND

Financing:
Program and Financing (in thousands of dollars)

Unobligated balance brought forward:
Cash...

62,957 67,869 92,015
Unfunded contract authorization (75 Stat.
1962
1963 1964
437)..

456, 415 825,305 914,763 actual estimate estimate Recovery of prior year obligations..

27

Receipts: Program by activities:

Advances, Foreign Assistance Act.. 354,944 568,000 718,000 1. Annuities..

379 400

430
Advances for economic assistance.

628 2. Death claims.

12
15
15

Technical assistance, U.S. dollar advances 3. Refunds...

7
from foreign governments..

761 3,000 3,000 Contract authority (75 Stat. 437).

777,433 723,000 735,000 Total obligations

398
415 445
Liquidation of contract authority.

-263,499 -430,000-500,000

Unobligated balance carried forward: (-) Financing:

Cash

-67,869 -92,015 -207,515 Unobligated balance brought forward:

Unfunded contract authorization (75 Stat. Cash

8 437)....

-825,305 -914,763 -911,763 U.S. securities (par).

1,556 1,772 2,015 Receipts:

Total financing

496, 492 750.396 843,500 Deductions from salaries_

260 290 300 Agency contributions..

260 290 300 Service credit payments.

34
10

10 Interest and profits on investments

1. Advances, Foreign Assistance Act.—This trust fund is 60 70

80 Gain from premium or discount on invest

used to account for the military assistance sales transments.cat

1
5

5 actions authorized by section 507 of the Foreign AssistUnobligated balance carried forward (-):

ance Act of 1961, as amended. Cash

- 1 -8 -8 U.S. securities (par).

Section 507(a) of the act permits the furnishing of -1,772 -2,015 -2,265

defense articles from the stocks of the Department of Total financing....

398 415 445 Defense and defense services to any eligible country or

international organization, without reimbursement from

funds made available for military assistance, if the country This fund is used to pay annuities to eligible widows or international organization agrees to pay the value and dependent children of deceased judges of the United thereof in U.S. dollars. Payment is to be made in advance States, to make refunds to former judges who elected to or, as determined by the President to be in the best income under the Judicial Survivors Annuity System but terests of the United States, within a reasonable period who have left the service, and to pay claims of survivors not to exceed 3 years after the delivery of the defense of member judges for any unpaid amounts credited to the articles, or the provision of the defense services. The individual accounts of such judges (28 U.S.C. 376). major portion of sales made under the provisions of sec

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tion 507(a) are on the basis of payment within 120 days after delivery of defense articles or performance of defense services.

Section 507(b) of the act provides that contracts may be entered into for new procurement without charge to any appropriation or contract authorization otherwise provided if the foreign government will provide the United States with a dependable undertaking (1) to pay the full amount of such contract which will assure the U.S. Government against any loss on the contract, and (2) to make funds available in such amounts and at such times as may be required to meet the payments required by the contract and any damages and costs that may accrue from the cancellation of such contract, in advance of the time such payments, damages, or costs are due.

The full amount of all firm orders received from eligible foreign governments, whether requiring cash in advance, payment within 120 days after delivery, or on the basis of à dependable undertaking, constitutes the contract authority authorized by this section 507. The largest portion of such contract authority represents sales to countries under the dependable undertaking procedure (22 U.S.C. 2315).

2. 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).

3. Philippine assistance.-By agreement with the Philippine 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).

4. Technical assistance, U.S. dollar advances 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).

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