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1967 actual

1968 est.

1969 est.

1967 actual

1968 est.

1969 est.

1966 actual

Relation of obligations to expenditures: 10 Total obligations....

15,361 17,093 18,745 Government equity:

70 Receipts and other offsets (items 11Interest-bearing capital:

17)--

-42,542 -43,952 -47,039 Start of year.-

1,650 Repayment to Treasury (79

71 Obligations affecting expenditures -27.181 -26,859 - 28,294 Stat. 131)... -1,650

72 Obligated balance, start of year ---- 8,865 9,196 9,485

74 Obligated balance, end of year. -9,196 -9,485 -9,379 End of

year. Retained earnings1,683 5,492 7.051 10,058 90 Expenditures.

-27,512 -27, 148 -28,188 Total Government equity. 1,683 5,492 7,051 10,058

Expenditures are distributed as follows: 02 Out of prior authorizations...

-27,512 -27.148 – 28, 188 Analysis of Government Equity (in thousands of dollars)

Cash transactions: Unobligated balance. 12,394 49,831 84,814 119,369 93 Gross expenditures..

15,352 17,024 18,661 Invested capital and earnings

40
435
780 1,225 94 Applicable receipts.

-42,864 –44,172 -46.849 Operating reserves.--

- 10.750 -44,774 -78,543 -110,536 Total Government equity- 1,683 5,492 7.051 10,058 This fund finances the payment of claims on nonpartic

ipating insurance policies issued before January 1, 1957, Object Classification (in thousands of dollars)

to veterans who served in the Armed Forces subsequent

to April 1951 (38 U.S.C. 723). Policyholders were given Identification code 29-00-4010-0-3-805

the right (72 Stat. 1716) to convert to a permanent plan

of insurance or to a new form of term insurance which 25.3 Payments to General operating expenses appropriation..

may not be renewed beyond age 50 but which costs less

1,984 684 650 33.0 Investments and loans

495 505

555

than the unlimited term insurance. Policyholders under 42.0 Insurance claims and indemnities.

6,889 8,144 9,219 all plans of VSTI may purchase total disability income

coverage with the payment of an additional premium. 99.0 Total obligations

9,368 9,333 10,424

Administrative expenses are paid from the appropriation,
General operating expenses.

Budget program.-1. Death claims.-Payments to su
VETERANS SPECIAL TERM INSURANCE FUND

viving beneficiaries continue to increase as deaths occur

among policyholders. Program and Financing (in thousands of dollars)

2. Disability claims.—Payments to individuals who have

purchased total disability coverage and who subsequently Identification code 29-00-4011-0-3-805 1967 actual 1968 est.

become totally disabled began in 1960. Program by activities:

3. Cash surrenders.-A policyholder may terminate bis Operating costs, funded:

insurance by cashing in his policy for its cash value. 1. Death claims

9,727 10,533 11,343 5. Policy loans made.--The policyholders who con2. Disability claims

236 286 334 verted their insurance from term to permanent plan were 3. Cash surrenders

1,517 1,825 2,135 4. Matured endowments.

5

subsequently entitled to borrow up to 94% of the cash 1

25
3
3

3

value of the new policy.

The following table reflects the decrease in the number Total operating costs 11,488 12,648 13,840

of policies and the amount of insurance in force (dollars in

thousands) : Capital outlay, funded: 6. Policy loans made.

June 30. June 30. June 30. 3.865 4,436

June 30. 4,895

1966

1969 7. Policy liens established.

8
9
10
actual

eslimate Number of policies

636,891 632,055 627.000 617,000 Total capital outlay. 3,873 4,445 4,905 Insurance in force..

$5,595,952 $5,552,042 $5,508.000 $5,420.000 10 Total program costs, funded-

Financing.--- Payments from this fund are financed obligations.

15,361 17,093 18,745 primarily from premium receipts and interest on investFinancing:

ments. Receipts and reimbursements from:

Operating results and financial condition.-Favorable 11 Federal funds: Interest on invest

mortality experience on insurance written against this ments.

--6,476 -7,234 -8,191 14 Non-Federal sources:

fund has kept death claim payments well below the Policy loans repaid.

-925 -1,174 - 1,424 amount of premium and interest receipts, thereby proPolicy liens repaid

-6
-8

-9 ducing an annual increase in the retained earnings of the Interest on investments (policy

fund. The retained earnings have been reduced by payloans).

--338 -460 --594
Premiums earned
-33,169 -33,298

ments of a special dividend and payments to the Veterans

--34,899 Other revenue income (optional

insurance and indemnities appropriation and the Veterans settlements).

-1,628 -1,778 -1.922 reopened insurance fund.

1969 est.

5. Other expense

1967 actual

1968 eslimale

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Identification code 29-00-4011-0-3-805

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33.0 Investments and loans. 42.0 Insurance claims and indemnities.

Program by activities: Operating costs, funded: 1. Premium payments. 2. Payment to General operating

expenses appropriation.... Total program costs, fund

ed-obligations..

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Total obligations

1967 actual

1968 est.

1969 est.

3,873 11,488

4,445 12.648

4,905 13.840

99.0

15,361

17,093

18,745

10

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1968 est.

145

Federal Funds-Continued

Intragovernmental funds: Public enterprise funds-Continued

SUPPLY FUND
SERVICEMEN'S GROUP LIFE INSURANCE FUND-Continued

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

Identification code 29-00-4537-0 4 805 1967 actual 1968 est. 1969 est. Identification code 29-00–4009_0_3-805 1967 actual

1969 est.

Program by activities: Financing:

Operating costs, funded: Receipts and reimbursements from:

1. Procurement, distribution, and 11 Federal funds: Contributions for

services program:
extra hazards of service.
-69,803 -141,884 – 147,000

(a) Cost of goods sold.... 95,348 105,830 108,257 14 Non-Federal sources: Withholdings

(b) Other expense...

5,942 7,119 6,971 from service pay. -80,207 -84,000 -84,000

2. Publications and reproduction 21 Unobligated balance available, start

program:
of year...
-134 -16 -66

(a) Cost of goods sold..

2,476 2,485 2,487 24 Unobligated balance available, end of

(b) Other expense.

1,310 1,504 1,507 year.--

16
66
126

Total operating costs,
New obligational authority.....

funded..

105,076 116,938 119,222 Relation of obligations to expenditures:

Capital outlay, funded: 10 Total obligations..

150, 128 225,834 230,940

1. Procurement, distribution, and 70 Receipts and other offsets (items 11

services program: Purchase of
17)
- 150,010 –225,884 -231,000

equipment.

35
62

15

2. Publications and reproduction
71
Obligations affecting expendi-

program: Purchase of equip-
tures...
118 -50 -60

ment.

6
83

37 90 Expenditures..

118 -50 -60
Total capital outlay, funded. 41

52 Expenditures are distributed as follows:

Total program costs, funded. 105, 117 117,083 119,274 01 Out of current authorizations...

-34
Change in selected resources '.

-2,583 1,150 914 02 Out of prior authorizations..

118 -16 --60

10

Total obligations.... 102,534 118.233 120,188 Cash transactions: 93 Gross expenditures.

150, 128 225,834 230,940 Financing: 94 Applicable receipts. -150,010 -225,884 -231,000

Receipts and reimbursements from:

Federal funds: This fund finances the payment of group life insurance

Procurement, distribution and premiums to private insurance companies under the

services program: Revenue.... -105,082 -116,452 - 119,300

Adjustments in unfilled customers Servicemen's Group Life Insurance Act of 1965 (38 U.S.C.

orders, unrecorded..

-642

45 765–776) and any expenses incurred by the Veterans Ad- 21 Unobligated balance available, start ministration in administration of this act.

of year: Fund balance..

17,878 14,798 16,624 Budget program.--1. Premium payments.—The pay

24 Unobligated balance available, end of
year: Fund balance..

-14,798 -16,624 -17,512 ment of premiums to private insurance companies in 1968

27 Capital transfer to general fund.

110 and 1969 is expected to be about 50% more than in 1967. This is due to the increase in contributions for the extra

New obligational authority ...... hazards of service. 2. Payment to General operating expenses appropria

Relation of obligations to expenditures: 10 Total obligations...

102,534 118,233 120,188 tion.-The 1967 administration cost to the Veterans Ad

70 Receipts and other offsets (items 11ministration was $183 thousand. This was attributable

17)-

-105,724 -116,407 -119,300 mostly to printing and reproduction of required forms

71 and publications. The total costs should decrease through

Obligations affecting expendi-
tures.

-3,190 the budget year.

1,826 888

72 Obligated balance, start of year: Fund Financing:-Premium costs are met by withholding

balance...

20,964 24,425 25,102 from the salaries of insured members their share of the 74 Obligated balance, end of year: Fund cost of the insurance and by contributions of amounts

balance...

- 24,425 -25,102 -25,100 representing the extra hazard costs from appropriations 90

Expenditures....

-6,651 1,149 890 of the departments involved. The extra hazards contributions will be about 100% more in 1968 and 1969 over 1967. Expenditures are distributed as follows: This is due to the increased death claims resulting from

02 Out of prior authorizations..... -6,651 1,149 890 the extra hazards of service.

1 Balances of selected resources are identified on the statement of financial Object Classification in thousands of dollars) Identification code 29-00–4009-0-3-805

1969 est. The Supply Fund finances, on a reimbursable basis,

warehouse inventories and procurement of recurring need 25.1 Other services...

149,945 225,734 230,850 25.3 Payments to General operating ex

supplies and centrally acquired equipment throughout penses appropriation....

183
100

90 the Veterans Administration in accordance with the pro

visions of 38 U.S.C. 5011, and items and services to other 99.0 Total obligations..

150,128 225,834 230,940 Government agencies when agencies request such support.

condition.

1967 actual

1968 est.

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1968 est.

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Budget program.—The fund provides financial support Government equity: for the procurement of supplies and equipment, the

Non-interest-bearing capital... 39,986 39,224 39,189 38.624 maintenance and operation of two supply depots and one

Decapitalization of publications

and reproduction inventories -762 subdepot, located at Hines, III., Somerville, N.J., and Decapitalization of depot stocks Wilmington, Calif., respectively, the operation of service transferred to General Serv. and reclamation program from each supply depot and

ices Administration...

-600 Retained earnings or deficit. 110 -35

35 subdepot, a centralized periodical procurement activity, printing service to VAR installations on a centralized Total Government equity. 39,334 39.189 38,624 38,624 basis, and a marketing center located at Hines, Ill. The publications and reproduction program provides

Analysis of Government Equity (in thousands of dollars) printing service to VA installations. Printed matter is acquired in accordance with the rules of the Joint Com- Unpaid undelivered orders ?. 19,530 19,982 19.950 19.950 mittee on Printing from the Government Printing Office, Unobligated balance.... -17,878 -14,798 -16,624 -17,512

Unfilled customers' orders..

-303 -945 -900 the General Services Administration, a VA-operated plant

-900

Invested capital and earnings... 37,984 34,949 36,198 37,086 in Arlington, Va., and from commercial sources.

The marketing center is responsible for determining the Total Government equity. 39,334 39,189 38,624 38,624 level of inventories at the three supply depots and to acquire stocks to maintain such levels as well as the

I The changes in these items are reflected on the program and financing schedule. central procurement of items not available from Govern

Object Classification (in thousands of dollars) ment sources for VA installations and other Government agencies as may be determined economical.

Identification code 29-00-4537-0-4-805 1967 actual

1969 est. Personal services and other costs incident to the operation and administration of supply activities in the Veterans Personnel compensation: Administration central office and field organizations are 11.1

Permanent positions.

4,268 4,767 4,889

11.3 charged directly to applicable appropriations and are not

Positions other than permanent..

76
44

53 11.5 Other personnel compensation....

67
58

53 an operating expense of the Supply Fund. Financing.–Consuming appropriations reimburse the

Total personnel compensation.... 4,412 4,868 4,996 fund for the cost of supplies and equipment provided and 12.0 Personnel benefits...

355 389 403 services rendered. Operating costs are recovered from the

13.0 Benefits for former personnel-Sever-
ance pay--

30

22 appropriations receiving supplies, equipment and services

21.0 Travel and transportation of persons..

98

124 at time of reimbursement.

22.0 Transportation of things...

1,183 1,223 1,228 Operating results and financial condition. The fund 23.0 Rent, communications, and utilities... 151

169 168 operated at a $35 thousand deficit during 1967. It is 24.0 Printing and reproduction.

2,270 2,421 2,398 25.1 Other services..

92
103

123 anticipated that this deficit will be eliminated in 1968.

26.0 Supplies and materials..

84,009 95, 125 96,696 31.0 Equipment for use of fund.

41
145

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

Equipment for sale to others.

9,441 13,678 14,000 1967 actual

Total accrued expenditures..-- 102,082 118,265 120,188

94.0 Change in unpaid undelivered orders.. 452 -32 Revenue..

105,082 116,452 119,300 Expense 105,111 116,412 119,295 99.0 Total obligations...

102,534 118,233 120,188 Net operating income..

-29
40
5

Personnel Summary
Nonoperating income or loss:
Proceeds from sale of equipment.-.-

1
1 Total number of permanent positions -

610 625

625 Net book value of assets sold...

-6
-6 Full-time equivalent of other positions..

15
7

7 Average number of all employees..

610 643 643 Nonoperating loss.

-6
-5
-5 Average GS grade.

6.5 6.6 6.6 Average GS salary.

$7,414 $7,759 $7,930 Net income for the year.

-35
35
Average salary of ungraded positions...

$6,904 $7.112 $7,322 Analysis of retained earnings:

Retained earnings or deficit, start of year. 110 -35
Payment of earnings to Treasury...

-110
Retained earnings, end of year..
-35

ADVANCES AND REIMBURSEMENTS
Financial Condition (in thousands of dollars)

Program and Financing (in thousands of dollars)

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122

-1100

1968 est.

1969 est.

-17,5

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This fund (72 Stat. 1154) was established in 1940 as the financing mechanism for World War II servicemen's and veterans' insurance program authorized by the National Service Life Insurance Act of 1940. Over 22 million policies have been issued under this program. Because issuance of new policies ended in 1951 the insurance in force will

23.0 Rent, communications, and utilities. .. 25.1 Other services.. 26.0 Supplies and materials.

52

50

175 1,294

159 1,173

50 100 1.140

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