927 ceipts... Federal unemployment tax re ceipts (repayment of temporary extended unemployment com pensation, 1961 act) The status of funds is as follows (in thousands of dollars): 1963 actual 1964 estimate 1965 estimate Refunds of taxes___ Federal unemployment tax re Investments in U.S. securities, beginning of year (par).. ceipts (repayment of 1958 act) Unappropriated receipts... 126 Unamortized premium, discount and interest purchased (net).. -3,327 Advances from Employment se Cash (unexpended balance). 42,897 curity revolving fund.. -81,912 Advances from general fund for temporary extended unemploy ment compensation.... Railroad unemployment insurance: Railroad unemployment insurance 1. Federal-State unemployment insur tax receipts... ance: Borrowings from Railroad retire (a) Withdrawals by States for benefit payments.... ex 7,884 13,000 10,200 pense... General fund advances to Rail road insurance account. -601 (d) Expense of collecting Federal unemployment tax.. Interest on investments.. (e) Payment of interest on ad Recovery of prior year obligations. Unobligated balance carried forward: 15,645 Appropriated receipts.. Unamortized premium, discount, and interest purchased (net).. Total financing. -6,245,191 -6,874,546 -7,519,061 -22,790 -14,745 -14,262 -1,090 -14,967 The financial transactions of the Federal-State and Railroad unemployment insurance systems are made through the Unemployment trust fund. In the FederalState system, benefit payments are made by each State, financed by special State payroll taxes. These tax receipts are deposited in the Unemployment trust fund and are invested in Government securities until needed for benefit payments. The expenses of State and Federal administration (including those of the Federal-State employment service), are paid from the fund out of revenue from the Federal unemployment tax, assessed on employers, of 0.4% of the first $3 thousand of wages. Both the benefit payments and administrative expenses of the separate unemployment insurance program for railroad employees are paid from the Unemployment trust fund and receipts from the tax on wages of railroad employees are deposited in the fund to meet these expenses. (f) Interest on refund of taxes___ (g) Temporary extended unemployment compensation: Benefits.... Repayment of general fund advances... (h) Temporary unemployment compensation (1958 act); repayment of advances to Treasury. 2. Railroad unemployment insurance: (b) Administrative expenses. account.. Repayment of general fund advances.. (d) Temporary extended Railroad unemployment insurance: Benefits... DEPARTMENT OF LABOR-Continued BUREAU OF EMPLOYMENT SECURITY-Continued UNEMPLOYMENT TRUST FUND-Continued Object Classification (in thousands of dollars) 41 Grants, subsidies, and contributions: Withdrawals by Railroad Retirement Board.. 42 Refunds, awards, and indemnities: Payments to States___ 43 Interest and dividends.... Limitation on "Railroad unemployment insurance administration fund". 1963 1964 actual estimate 1965 estimate These trust funds consist of amounts received from employers for the death of an employee where no person is entitled to compensation for such death and for fines and penalty payments. In 1963 receipts were $15 thousand and interest was $24 thousand (33 U.S.C. 908; 31 U.S.C. 725; 33 U.S.C. 944). Receipts are used to pay compensation in cases where judgment against employers cannot be satisfied by reason of insolvency or other circumstances precluding payment, to provide necessary medical, surgical, and other treat166,838 152,210 150,000 ment in disability cases where there has been default in furnishing such medical treatment by reason of the in2,812,637 2,550.000 2,450,000 solvency of the employers; for payment of additional 12,356 12,877 16,175 compensation for second injuries resulting in permanent total disability and to provide maintenance for employees undergoing vocational rehabilitation. In addition, under the subactivity Administration of rehabilitation, provision is made for the cost of necessary rehabilitation services not otherwise available to disabled longshoremen and harbor workers. 8,615 13,326 Object Classification (in thousands of dollars) 8,752 9,345 "Salaries and expenses," Bureau of Employment Security... 11,921 12,400 "Grants to States for unemployment compensation and employment service administration" Unclassified: 337,400 425,000 455,076 Payment to miscellaneous receipts as reimbursements for administrative expenses.. Repayment of advances from general fund for temporary unemployment compensation benefits.. Repayment of advances from general fund for temporary extended unemployment compensation benefits....... Total obligations.......... 5,604 5,640 5,786 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 invest ments. It is estimated that approximately 1,261 annuitants will be paid retirement benefits from this fund at the end. of 1965 compared with 1,049 at the end of 1963 and 1,159 at the end of 1964. 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. Object Classification (in thousands of dollars) 1 338 78 7 Personnel Summary 44 Refunds.. 700-100-6459 1. Education of Iranian students in the United States.This account was established by the act of September 29, 1950 (20 U.S.C. 225), for the education of Iranian students in the United States. TREASURY DEPARTMENT OFFICE OF THE SECRETARY 2. U.S. dollars advanced from foreign governments.— Funds advanced by other governments are used to send experts abroad to perform requested services, to give Program by activities: foreign nationals scientific, technical, or other training, and to perform technical or other services in this country (22 U.S.C. 1431-1479). 3. Contributions, educational and cultural exchange.Funds contributed by foreign governments, international organizations and private individuals, firms, associations, agencies, and other groups are used toward meeting the expenses of carrying out the authorized activities and purposes of the Mutual Educational and Cultural Exchange Act of September 21, 1961 (22 U.S.C. 2455). Object Classification (in thousands of dollars) Payment of fund earnings (costs-obligations) Financing: Unobligated balance brought forward: U.S. Receipts: Interest and profits on investments. Total financing. The Secretary of the Treasury may invest the principal of the Pershing Hall Memorial fund in interest-bearing United States bonds. Earnings are paid to the American Legion for use in the maintenance of Pershing Hall in Paris, France (49 Stat. 426). |