$1,247,942 Unadvanced funds, end of year. $237,616 $252,615 Cumulative principal repaid.. $154,978 $184,578 Cumulative interest paid.. $121,444 $144, 344 435 1,971 2,071 Revenue, Expense, and Retained Earnings (in thousands of dollars) 1967 actual 1968 est. 455 Proposed legislation would create a Rural Electrifica$1,500,557 $1,625,557 tion Administration loan account for the rural electric $1,367,942 systems, and a loan account to be supplemented by a $257,615 Federal bank under the supervision of the Secretary of $213,078 $169, 344 Agriculture for the rural telephone systems. The basic 2% loan program needs would be met from the proposed REA loan accounts. The Federal bank for the telephone program would provide a non-Federal source of financing to supplement funds appropriated for the basic 2% program. Telephone bank loans are estimated at $50 million for 1969. Principal and interest collected on REA loans would be deposited into the new loan accounts. The loan accounts would provide funds for the regular loan programs, Federal investment in the telephone bank, and payments due Treasury on loans to the REA Administrator. Net receipts are estimated to be $173 million in 1968 and $172 million in 1969 for the electric program. For the telephone program net receipts are estimated to be $32 million in 1968 and $31 million in 1969. 1969 est. Relation of obligations to expenditures: 10 Total obligations... 71 The Administration assists electrification borrowers and potential borrowers to negotiate for adequate supplies of power on reasonable terms, and makes loans for the extension and improvement of electric and telephone 70 Receipts and other offsets (items 11-17). service in rural areas. Business management and technical help is furnished borrowers where needed to protect the Government's loan security, to assure that construction and operation of their systems conform to approved standards and will provide continuous and reliable service and to facilitate the most effective use of resources to achieve program objectives. Object Classification (in thousands of dollars) 90 Obligations affecting expenditures.. Object Classification (in thousands of dollars) 11.1 Personnel compensation: Permanent 12.0 Personnel benefits... 21.0 Travel and transportation of persons.. Financing: Receipts and reimbursements from: 11 Federal funds... -37 -40 -40 14 Non-Federal sources (40 U.S.C. 3214 31.0 Equipment........ 41 Personnel Summary 11.5 Other personnel compensation..... 10 10 Average number of all employees. 12.0 Personnel benefits.... 10.0 21.0 Travel and transportation of persons.. $11,587 22.0 Transportation of things.... 23.0 Rent, communications, and utilities... 635457 85 95 RURAL WATER AND WASTE DISPOSAL GRANTS For grants pursuant to sections 306 (a) (2) and 306 (a) (6) of the Consolidated Farmers Home Administration Act of 1961, as amended (7 U.S.C. 1926), [$30,000,000] $27,250,000. (Department of Agriculture and Related Agencies Appropriation Act, 1968.) Program and Financing (in thousands of dollars) 1 Selected resources as of June 30 are as follows: Unpaid undelivered orders, 1966, $19,901 thousand (1967 adjustment, $118 thousand): 1967, $34,636 thousand; 1968, $35,636 thousand; 1969, $29,136 thousand. This program was authorized by Public Law 89-240, approved October 7, 1965, which amended subtitle A of the Consolidated Farmers Home Administration Act of 1961. It provides for planning grants to be made to public and private bodies with authority to prepare comprehensive plans for the development of water or sewer systems in rural areas which do not have funds available for such planning. In addition, development grants are made to associations, including nonprofit corporations and public and quasi-public agencies, to finance specific projects for the development, storage, treatment, purification, or distribution of water or the collection, treatment, or disposal of waste in rural areas. The amount of the grant may not exceed 50% of the development cost of the project. Development grants to associations may be made in connection with direct or insured loans for water and sewer systems described under the Farmers Home Administration direct loan account. 1 Selected resources as of June 30 are as follows: Unpaid undelivered orders, 1966. $882 thousand; 1967, $1,207 thousand; 1968, $1,090 thousand; 1969. $1,300 thousand. Rural renewal.-This program was authorized by section 102 of the Food and Agriculture Act of 1962. Loans are made to local public agencies and private nonprofit organizations for rural renewal development projects which are specifically related to conservation and land utilization. Each project will be an important component of the overall rural renewal plan previously developed to rebuild the economy of the designated area. To be eligible for designation as a rural renewal area, the locality must be one of chronic underemployment on farms and unemployment in the surrounding communities. The area must also be one in which agriculture or forestry contribute substantially to the economy. The 1969 request is to provide for continuation of program operations in designated project areas. Program operations include selection and designation of rural renewal areas, technical assistance to local public bodies or officials, or private nonprofit organizations in the preparation of an economic development plan, and counsel to local agencies and organizations for meeting legal requirements necessary for borrowing funds. The borrowing agency is designated by the State legislature or Governor to receive rural renewal loan funds and is vested with authority under State and local laws to borrow funds, buy and sell property, raise revenue, meet financial obligations and transact other necessary business functions. Rural renewal loans are repayable in not more than 30 years with repayment of principal and interest deferred up to 5 years, if necessary. Loans bear interest at the average rate paid by the U.S. Treasury on obligations of similar maturity. The rate for 1968 is 3.253%. Program administration.-The Farmers Home Administration has been assigned responsibility for the coordination, direction, and supervision of the rural renewal 221 13 17 17 18 18 1 1 23.0 Rent, communications, and utilities... 10 10 1 24 3 1,300 1 Selected resources as of June 30 are as follows: Unpaid undelivered orders, 1966, $2,156 thousand; 1967, $4,615 thousand; 1968, $4,780 thousand; 1969, $5,480 thousand. Financial assistance in the form of grants is provided to public or private nonprofit organizations for low-rent housing and related facilities for domestic farm labor as authorized by the Housing Act of 1964. Assistance not to exceed two-thirds of the total development cost may be provided for new structures and sites, and for the rehabilitation, alteration, conversion or 1,572 improvement of dwellings, dining halls, community rooms or buildings, and infirmaries used by domestic farm laborers. Such financial assistance may be made in connection with insured farm labor housing loans under the Rural Housing Insurance Fund. search Service.... 28 28 28 For necessary expenses of the Farmers Home Administration, not otherwise provided for, in administering the programs authorized by the Consolidated Farmers Home Administration Act of 1961 (7 U.S.C. 1921-1990), as amended, title V of the Housing Act of 1949, as amended (42 U.S.C. 1471-1490), and the Rural Rehabilitation Corporation Trust_Liquidation Act, approved May 3, 1950 (40 U.S.C. 440-444); [$55,988,000] $59,132,000, together with not more than $2,250,000 of the charges collected in connection with the insurance of loans as authorized by section 309(e) of the Consolidated Farmers Home Administration Act of 1961, as amended, and section 514(b) (3) of the Housing Act of 1949, as amended: Provided, That, in addition, not to exceed $500,000 of the funds available for the various programs administered by this agency may be transferred to this appropriation for temporary field employment pursuant to the second sentence of section 706(a) of the Organic Act of 1944 (58 Stat. 742) to meet unusual or heavy workload increases: Provided further, That no part of any funds in this paragraph may be used to administer a program which makes rural housing grants pursuant to section 504 of the Housing Act of 1949, as amended. (Department of Agriculture and Related Agencies Appropriation Act, 1968.) Program and Financing (in thousands of dollars) Identification code 05-60-2001-0-1-352 Program by activities: Administration of grant and direct and 1967 actual 1968 est. 1969 est. Identification code 05-60-2004-0-1-352 Change in selected resources 2 53,575 of dollars): Total 385,432 274,594 221,676 536,000 826,450 2,240,050 4,102 2,244,152 Foreign currency funds applied to long-term credit costs.. Net costs Appropriations through June 30, 1969. Amounts due from foreign governments June 30, 1969, to be applied against costs and reduce subsequent appropriations... -285,104 1,959,048 -279,996 1,679,052 1,679,052 1,723,406 The following table reflects the composition of the combined appropriations for 1967, 1968, and 1969 (in thousands of dollars): Item Expenses of shipments: 1967 actual 1968 estimate 1969 estimate 2. Commodities disposed of and other costs incurred in connection with donations abroad (title II).-Available agricultural commodities are furnished to meet famine or other urgent or emergency relief needs. Also, commodities are furnished to promote economic and community development in friendly developing countries, to combat malnutrition, and for needy people, nonprofit school lunch, and preschool feeding programs. They are furnished through friendly governments and private or public agencies, including intergovernmental organizations such as the world food program. The Food for Peace Act, in amending title II, expressed the sense of Congress that other advanced nations should be encouraged to make increased contributions for the purpose of combating world hunger and malnutrition, and that to achieve this objective the United States should work to expand the United Nations' World food program. The Agency for International Development is responsible for administering title II programs. However, Commodity Credit Corporation makes available the commodities or products requested for disposition under title II. Such commodities or products are made available from the Corporation's stocks of commodities or products 488, 600 acquired under its price support program or are purchased at market prices when it is determined to be in the best interest of the Government. 732,850 1,221,450 33,800 450 The Commodity Credit Corporation is authorized to pay with respect to commodities made available the costs of acquisition, packaging, processing, enrichment, preservation, fortification, transportation, handling, and other incidental costs incurred up to the time of delivery to U.S. ports and ocean freight charges and general average contributions arising out of ocean transport. 522, 400 826, 450 1,348,850 127,400 --103,600 Total long-term credit.. 176,873 456,000 283,400 -239,000 1,006, 250 -464,000 99,396 -99,396 Seven and one-half million dollars each year may be used to buy foreign currencies accruing under title I of this act to meet costs (other than personnel and administrative costs of cooperating sponsors, distributing agencies, and recipient agencies) directed to community and other self-help activities designed to alleviate the causes for the need for such aid. Through December 31, 1967, appropriations totaling $3,700 million were authorized. No programs of assistance and none may be entered into after December 31, 1968, shall be undertaken under this title during calendar year 1968 which call for an appropriation of more than $600 million to reimburse the Corporation for costs incurred, including its investment, plus any amount by which programs of assistance undertaken under this title in the preceding calendar year have called or will call for appropriations in amounts less than authorized during the preceding year. Proceeds from loss, damage, and other claims are applied against Commodity Credit Corporation costs to reflect a reduction in appropriation requests. Since inception through June 30, 1967, transfer authorizations under title II have been issued for $1,980 million worth of food, including ocean freight costs. Of this |