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The HRSA Consolidated Balance Sheet is comprised of assets, liabilities, and net position. At the end of FY 2002, HRSA’s assets total $7.9 billion, which is an increase of 7 percent from $7.3 billion in FY 2001. Intragovernmental assets account for a majority of HRSA’s assets, including $5.6 billion in Fund Balance with Treasury (FBWT), and $1.9 billion in investments. The FBWT has increased 10 percent from last year, which is the result of an authority increase of $565 million to our main appropriation. The substantial majority of the investments is for the Vaccine Injury Compensation (VICP) Trust Fund. For nongovernmental assets, HRSA has $370 million in loan receivables from the credit reform Health Education Assistance Loans (HEAL) programs. These loans have decreased by 13 percent from FY 2001, due to an increase in the allowance for bad debt, and these loans are expected to continue to decrease in future years.

HRSA’s liabilities in FY 2000 total $1.17 billion. They were $1.2 billion in FY 2001. A small portion, or 6 percent, is intragovernmental, mostly from deferred revenue from other Federal agencies. Accrued grant liability, credit reform loan guarantees, VICP liability and Health Centers Malpractice Contingent liability (new for FY 2002), which are all nongovernmental, account for 85 percent of HRSA’s total liabilities. The contingent liability is an estimation of potential malpractice claims related to malpractice coverage on certain HRSA supported Health Centers. HRSA does expect this liability to continue to increase in the future. HRSA’s FY 2002 net position totals $6.7 billion, an increase of 9 percent from $6.1 billion in FY 2001. Most of this increase is driven by the increase in FBWT.

HRSA Consolidated Statement of Net Cost provides a breakout of its net operating costs by GPRA programs. For FY 2002, total net cost is $5.8 billion, or 9 percent increase, as compared to FY 2001. The Primary Health Care ($1.6 billion), HIV/AIDS ($1.8 billion), Maternal & Child Health ($1 billion), and Health Profession ($.8 billion) programs account for 88 percent of total net cost of operations. The largest decrease ($308 million) is in the Health Profession program, mostly from the diminishing payments on the Ricky Ray Hemophilia Relief Fund, where nearly all of the payments were made in FY 2001. The largest increase ($255 million) is in the HIV/AIDS programs.

HRSA Consolidated Statement of Changes in Net Position totals $6.7 billion and is comprised of two components: Unexpended Appropriations and Cumulative Results of Operations. The Unexpended Appropriation has increased by 13 percent from $4.1 billion in FY 2001 to $4.6 billion in FY 2002. This is due to the increase in FBWT, the majority of which has been committed to HRSA’s grantees. There was only a very slight increase of $17 million in the Cumulative Results of Operations in FY 2002. The greatest part of this balance is from VICP excise taxes collected and invested in the VICP Trust Fund.

The Combined Statement of Budgetary Resources explains the sources of HRSA appropriated dollars and provides a status of how those funds are spent. Total outlays for FY 2002 were $5.7 billion, which is slightly higher, by $50 million, from the previous year. The budget authority is $7 billion, which is a decrease from the $7.6 billion in FY 2001, mainly due to the Congressional appropriation for the Ricky Ray Hemophilia Relief Fund. Obligations incurred of $6.4 billion make up 90 percent of its budget authority for FY 2002. The unobligated balance available is $544 million, and unobligated balance not available is $116 million.

The Consolidated Statement of Financing links the net obligations incurred from the Combined Statement of Budgetary Resources to the net cost of operations from the Consolidated Statement of Net Cost. For FY 2002, HRSA total net cost is $5.8 billion, while the total resources used to finance HRSA’s activities is $6.2 billion. The main difference of $400 million is from total resources used to fund items not part of the net cost of operations.

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