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U.S. ENVIRONMENTAL PROTECTION AGENCY
OFFICE OF INSPECTOR GENERAL
U.S. Chemical Safety Board
Audit of the U.S. Chemical
Safety and Hazard
Investigation Board's
Fiscal Years 2019 and 2018
Financial Statements
Report No. 20-F-0032
November 19, 2019

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Abbreviations
CSB	U.S. Chemical Safety and Hazard Investigation Board
EPA	U.S. Environmental Protection Agency
OIG	Office of Inspector General
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OIG Hotline@epa.gov
Learn more about our OIG Hotline.
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1200 Pennsylvania Avenue, NW (2410T)
Washington, D.C. 20460
(202) 566-2391
www.epa.gov/oiq
Subscribe to our Email Updates
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U.S. Environmental Protection Agency
Office of Inspector General
At a Glance
20-F-0032
November 19, 2019
Why We Did This Project
We performed this audit in
accordance with the
Accountability of Tax Dollars
Act of 2002, which requires the
U.S. Chemical Safety and
Hazard Investigation Board
(CSB) to prepare, and the
Office of Inspector General
(OIG) to audit, the board's
financial statements each year.
The U.S. Environmental
Protection Agency's OIG, which
also serves as the Inspector
General for the CSB,
contracted with Allmond &
Company LLC to perform the
audit of the CSB's fiscal years
2019 and 2018 financial
statements.
This report addresses the
following CSB goal:
• Create and maintain an
engaged, high-performing
workforce.
Audit of the U.S. Chemical Safety and Hazard
investigation Board's Fiscal Years 2019 and
2018 Financial Statements
What Allmond & Company Found
Allmond & Company rendered an unmodified
opinion on the CSB's financial statements for fiscal
years 2019 and 2018, meaning that the
statements were fairly presented and free of
material misstatements.
The CSB received an
unmodified opinion on its
fiscal years 2019 and 2018
financial statements.
As part of obtaining reasonable assurance about whether the CSB's financial
statements are free of material misstatement, Allmond & Company performed
tests of the CSB's compliance with certain provisions of applicable laws,
regulations, contracts and grant agreements, with which noncompliance could
have a direct and material effect on the financial statements. Allmond &
Company's fiscal years 2019 and 2018 audit disclosed no instances of
noncompliance or other matters that are required to be reported.
In planning and performing its audit, Allmond & Company considered the CSB's
internal control over financial reporting. During the audit, Allmond & Company did
not identify any deficiencies in internal control over financial reporting that would
be considered a material weakness.
Allmond & Company is responsible for the enclosed auditor's report and the
conclusions expressed in the report. We do not express any opinion or
conclusions on the CSB's financial statements, internal control, or compliance
with laws and regulations.
Allmond & Company made no recommendations to the CSB.
Address inquiries to our public
affairs office at (202) 566-2391 or
OIG WEBCOMMENTS@epa.gov.
List of OIG reports.

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UNITED STATES ENVIRONMENTAL PROTECTION AGENCY
WASHINGTON, D.C. 20460
OFFICE OF
INSPECTOR GENERAL
November 19, 2019
Kristen Kulinowski, Ph.D.
Interim Executive Authority and Member
U.S. Chemical Safety and Hazard Investigation Board
1750 Pennsylvania Avenue NW, Suite 910
Washington, D.C. 20006
Dear Dr. Kulinowski:
RE: Report No. 20-F-0032, Audit of the U.S. Chemical Safety and Hazard Investigation Board's
Fiscal Years 2019 and 2018 Financial Statements
This letter transmits the audit report on the U.S. Chemical Safety and Hazard Investigation Board's
(CSB's) fiscal years 2019 and 2018 financial statements. The audit is required by Public Law 107-289,
Accountability of Tax Dollars Act of 2002.
The independent public accounting firm of Allmond & Company LLC performed the audit of the CSB
financial statements as of and for the fiscal years ended September 30, 2019 and 2018. The audit was
conducted in accordance with the Comptroller General of the United States' Government Auditing
Standards and Office of Management and Budget Bulletin No. 19-03, Audit Requirements for Federal
Financial Statements. Allmond & Company is responsible for the enclosed auditor's report, which is
dated November 12, 2019, and the opinions and conclusions expressed in the report. We do not express
any opinion or conclusions on the CSB's financial statements, internal control, or compliance with laws
and regulations.
Because this report contains no recommendations, you are not required to respond to this report.
However, if you submit a response, it will be posted on the Office of Inspector General's public website,
along with our memorandum commenting on your response. Your response should be provided as an
Adobe PDF file that complies with the accessibility requirements of Section 508 of the Rehabilitation
Act of 1973, as amended. The final response should not contain data that you do not want to be released
to the public; if your response contains such data, you should identify the data for redaction or removal
along with corresponding justification. We will post this report to our website at www.epa.gov/oig.
Sincerely,
Paul C. Curtis, Director
Financial Directorate
Office of Audit and Evaluation
Enclosure

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CSB - 2019 Financial Statement Audit
Contract: GS23F0111L/EPG16H00321
Chemical Safety and Hazard Investigation Board (CSB)
Fiscal Year 2019 Financial Statement Audit
Final Independent Auditors' Report
Submitted for review and acceptance to:
Safiya Chambers
Contracting Officer's Representative (COR)
Environmental Protection Agency
Office of the Inspector General
Submitted by:
Jason L. Allmond CPA, CGFM, CISA, CISM
Member
Allmond & Company, LLC
7501 Forbes Blvd., Suite 200
Lanham, MD 20706
301-918-8200
j allmond@allmondcpa. com
Final Independent Auditors' Report
Prepared under contract to the Environmental Protection Agency (EPA) Office of Inspectors General (OIG) to
provide financial auditing services

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U.S. CHEMICAL SAFETY AND HAZARD INVESTIGATION BOARD
AUDIT REPORT
SEPTEMBER 30, 2019

ALLMOND & COMPANY, LLC
Certified Public Accountants
7501 Forbes Blvd., Suite 200
Lanham, Maryland 20706
(301)918-8200

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Allmond 5. Company, LLC
750 I Forbes Boulevard, Suite 200
Ljwham, Maryland 20706
Certified Public Accountants
(301 ) 9 I 8-8200
Facsimile: <30 1)91 8-8 20 I
Independent Auditors' Report
Interim Executive Authority and Member, U.S. Chemical Safety and Hazard Investigation Board
Acting Inspector General, Environmental Protection Agency:
Report on the Financial Statements
We have audited the accompanying financial statements of the U.S. Chemical Safety and Hazard
Investigation Board (CSB), which comprise the balance sheets as of September 30, 2019 and 2018; the
related statements of net cost, changes in net position, and budgetary resources for the fiscal years then
ended; and the related notes to the financial statements (hereinafter referred to as the financial
statements).
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this
responsibility includes the design, implementation, and maintenance of internal control relevant to the
preparation and fair presentation of financial statements that are free from material misstatement, whether
due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on the fiscal year 2019 and 2018 financial statements of CSB
based on our audits. We conducted our audit in accordance with auditing standards generally accepted in
the United States of America; the standards applicable to financial audits contained in Government
Auditing Standards issued by the Comptroller General of the United States; and Office of Management
and Budget (OMB) Bulletin No. 19-03, Audit Requirements for Federal Financial Statements. Those
standards and OMB Bulletin No. 19-03 require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditors" judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity's preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's
internal control. Accordingly, we express no such opinion.
An audit also includes evaluating the appropriateness of the accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as the overall
presentation of the financial statements.

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Independent Auditors' Report
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the U.S. Chemical Safety and Hazard Investigation Board as of September 30, 2019
and 2018, and its net costs, changes in net position, and budgetary resources for the fiscal years then
ended in accordance with accounting principles generally accepted in the United States of America.
Other Matters
Required Supplementary Information
U.S. generally accepted accounting principles require that the information in the Message from the
Interim Executive Authority, Message from the Chief Financial Officer, and Management and Discussion
Analysis sections of this report is presented to supplement the basic financial statements. Such
information, although not a part of the basic financial statements, is required by the Federal Accounting
Standards Advisory Board. We have applied certain limited procedures, which consisted principally of
inquiries of management regarding the methods of preparing the information and comparing the
information for consistency with management's responses to our inquiries, the basic financial statements,
and other knowledge we obtained during our audit of CSB's financial statements. However, we did not
audit this information and, accordingly, we express no opinion on it.
Other Reporting Required by Government Auditing Standards
Internal Control over Financial Reporting
In planning and performing our audit of CSB's financial statements as of and for the year ended
September 30, 2019, in accordance with generally accepted government auditing standards, we
considered CSB's internal control over financial reporting as a basis for designing audit procedures that
are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements,
but not for the purpose of expressing an opinion on the effectiveness of CSB's internal control over
financial reporting. Accordingly, we do not express an opinion on the effectiveness of CSB's internal
control over financial reporting. We limited internal control testing to those necessary to achieve the
objectives described in OMB Bulletin No. 19-03. We did not test all internal control relevant to operating
objectives as broadly defined by the Federal Managers' Financial Integrity Act of 1982.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct misstatement on a timely basis. A material weakness is a deficiency, or combination of
deficiencies, such that there is a reasonable possibility that a material misstatement of the entity's
financial statements will not be prevented, or detected and corrected, on a timely basis. A significant
deficiency is a deficiency or a combination of deficiencies, in internal control that is less severe than a
material weakness yet important enough to merit the attention by those charged with governance.
Our consideration of internal control over financial reporting was for the limited purpose as described in
the first paragraph of this section, and was not designed to identify all deficiencies in internal control over
financial reporting that might be material weaknesses or significant deficiencies and therefore material

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Independent Auditors' Report
weaknesses or significant deficiencies may exist that were not identified. Given these limitations, during
our fiscal year 2019 audit we did not identify any deficiencies in internal control over financial reporting
that we considered to be a material weakness, as defined above. However, material weaknesses may exist
that have not been identified.
However, we noted one additional matter that we will report to CSB management in a separate letter.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether CSB's fiscal year 2019 financial statements are
free of material misstatements, we performed tests of CSB's compliance with certain provisions of
applicable laws, regulations, contracts, and grant agreements, which noncompliance could have a direct
and material effect on the determination of material amounts and disclosures in CSB's financial
statements, and certain provisions of other laws specified in OMB Bulletin No. 19-03. However,
providing an opinion on compliance with those provisions was not an objective of our audit, and
accordingly, we do not express such an opinion.
The results of our tests of compliance as described in the preceding paragraph, disclosed no instances of
noncompliance or other matters that are required to be reported herein under Government Auditing
Standards or OMB Bulletin No. 19-03.
Purpose of the Other Reporting Required by Government Auditing Standards
The purpose of the communication described in the Other Reporting Required by Government Auditing
Standards section is solely to describe the scope of our testing of internal control and compliance with
selected provision of applicable laws, regulations, contracts, and grant agreements, and the results of that
testing, and not to provide an opinion on the effectiveness of CSB's internal control or on compliance.
This communication is an integral part of an audit performed in accordance with U.S. generally accepted
government auditing standards in considering internal controls and compliance with laws, regulations,
contracts, and grant agreements which could have a material effect on CSB's financial statements.
Accordingly, this communication is not suitable for any other purpose.
G£i*toO*yrfL &
Lanham, MD
November 12, 2019

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
FINANCIAL STATEMENTS
FOR THE YEARS ENDED
SEPTEMBER 30, 2019 AND 2018

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
FINANCIAL STATEMENTS
FOR THE YEARS ENDED SEPTEMBER 30, 2019 AND 2018
TABLE OF CONTENTS
BALANCE SHEET		1
STATEMENT OF NET COST		2
STATEMENT OF CHANGES IN NET POSITION		3
STATEMENT OF BUDGETARY RESOURCES		4
NOTES TO THE FINANCIAL STATEMENTS		5-16

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
BALANCE SHEET
AS OF SEPTEMBER 30,2019 AND 2018
(In Dollars)

2019
2018
Assets:


Intragovernmental


Fund Balance With Treasury (Note 2)
$ 6,129,833 $
4,308,944
Total Intragovernmental
6,129,833
4,308,944
Accounts Receivable, Net (Note 3)
536
-
Property, Equipment, and Software, Net (Note 4)
351,428
422,658
Total Assets
$ 6,481,797 $
4,731,602
Liabilities:


Intragovernmental


Accounts Payable
$ 34,769 $
8,505
Other (Note 6)
48,273
57,749
Total Intragovernmental
83,042
66,254
Accounts Payable
742,102
374,584
Other (Note 6)
631,722
574,589
Total Liabilities
$ 1,456,866 $
1,015,427
Net Position:


Unexpended Appropriations
$ 5,106,068 $
3,697,572
Cumulative Results of Operations
(81,137)
18,603
Total Net Position
$ 5,024,931 $
3,716,175
Total Liabilities and Net Position
$ 6,481,797 $
4,731,602
The accompanying notes are an integral part of these financial statements.
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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
STATEMENT OF NET COST
FOR THE YEARS ENDED SEPTEMBER 30, 2019 AND 2018
(In Dollars)

2019
2018 1
Gross Program Costs:


Gross Costs
$ 10,760,290 3
> 10,723,975
Net Cost of Operations
$ 10,760,290 3
> 10,723,975
The accompanying notes are an integral part of these financial statements.
2

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
STATEMENT OF CHANGES IN NET POSITION
FOR THE YEARS ENDED SEPTEMBER 30, 2019 AND 2018
(In Dollars)

2019
Consolidated Total
2018
Consolidated Total
Unexpended Appropriations:
Beginning Balances
$ 3.697.572 !
B 3.250.368
Budgetary Financing Sources:
Appropriations Received
Other Adjustments
Appropriations Used
12.000.000
(245.707)
(10.345.797)
11.000.000
(158.915)
(10.393.881)
Total Budgetary Financing Sources
1.408.496
447.204
Total Unexpended Appropriations
$ 5.106.068 !
B 3.697.572
Cumulative Results of Operations:
Beginning Balances
$ 18.603 !
B (73.964)
Budgetary Financing Sources:
Appropriations Used
10.345.797
10.393.881
Other Financing Sources (Non-Exchange):
Imputed Financing Sources (Note 11)
314.753
422.661
Total Financing Sources
Net Cost of Operations
10.660.550
(10.760.290)
10.816.542
(10.723.975)
Net Change
(99.740)
92.567
Cumulative Results of Operations
$ (81.137) !
B 18.603
Net Position
$ 5.024.931 !
B 3.716.175
The accompanying notes are an integral part of these financial statements.
3

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
STATEMENT OF BUDGETARY RESOURCES
FOR THE YEARS ENDED SEPTEMBER 30, 2019 AND 2018
(In Dollars)

2019
2018 1
Budgetary Resources:
Unobligated balance from prior year budget authority, net
Appropriations
$ 1,987,595 3
12,000,000
! 1,738,844
11,000,000
Total Budgetary Resources
$ 13,987,595 3
; 12,738,844
Status of Budgetary Resources:
New obligations and upward adjustments (total) (Note 12)
Unobligated balance, end of year:
Apportioned, unexpired account
$ 10,711,527 3
2,148,408
! 10,940,896
920,907
Unexpired unobligated balance, end of year
Expired unobligated balance, end of year
2,148,408
1,127,660
920,907
877,041
Unobligated balance, end of year (total)
3,276,068
1,797,948
Total Budgetary Resources
$ 13,987,595 3
! 12,738,844
Outlays, net:
Outlays, net, (total)
Distributed Offsetting Receipts
9,933,404
4,532
10,554,121
Agency outlays, net
$ 9,937,936 3
! 10,554,121
The accompanying notes are an integral part of these financial statements.
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NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A.	Reporting Entity
The United States Chemical Safety and Hazard Investigation Board (CSB) is an independent
Federal agency with the mission of ensuring the safety of workers and the public by promoting
chemical safety and accident prevention. The CSB was established by the Clean Air Act
Amendments of 1990 and is responsible for advising the President and Congress on key issues
related to chemical safety and evaluating the effectiveness of other Government agencies on
safety requirements. The CSB receives all of its funding through appropriations. The CSB
reporting entity is comprised of General Funds and General Miscellaneous Receipts.
General Funds are accounts used to record financial transactions arising under congressional
appropriations or other authorizations to spend general revenues. The CSB manages Operations
and Facilities, Engineering and Development General Fund accounts.
General Fund Miscellaneous Receipts are accounts established for receipts of non-recurring
activity, such as fines, penalties, fees and other miscellaneous receipts for services and benefits.
The CSB has rights and ownership of all assets reported in these financial statements. The CSB
does not possess any non-entity assets.
B.	Basis of Presentation
The financial statements have been prepared to report the financial position and results of
operations of the CSB. Hie Balance Sheet presents the financial position of the agency. The
Statement of Net Cost presents the agency's operating results; the Statement of Changes in Net
Position displays the changes In the agency's equity accounts. The Statement of Budgetary
Resources presents the sources, status, and uses of the agency's resources and follows the rules
for the Budget of the United States Government.
The statements are a requirement of the Chief Financial Officers Act of 1990, the Government
Management Reform Act of 1994, and the Accountability of Tax Dollars Act of 2002. They have
been prepared from, and are fully supported by, the books and records of the CSB in accordance
with the hierarchy of accounting principles generally accepted in the United States of America,
standards issued by the Federal Accounting Standards Advisory Board (FASAB), Office of
Management and Budget (OMB) Circular A-136, Financial Reporting Requirements, as
amended, and the CSB accounting policies which are summarized in this note. These statements,
with the exception of the Statement of Budgetary Resources, are different from financial
management reports, which are also prepared pursuant to OMB directives that are used to
monitor and control CSB's use of budgetary resources. The financial statements and associated
notes are presented on a comparative basis. Unless specified otherwise, all amounts are presented
in dollars.
C.	Basis of Accounting
Transactions are recorded on both an accrual accounting basis and a budgetary basis. Under the
accrual method, revenues are recognized when earned, and expenses are recognized when a
5

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liability is incurred, without regard to receipt or payment of cash. Budgetary accounting
facilitates compliance with legal requirements on the use of federal funds.
D.	Fund Balance with Treasury
Fund Balance with Treasury is the aggregate amount of the CSB's funds with Treasury in
expenditure, receipt, and deposit fund accounts. Appropriated funds recorded in expenditure
accounts are available to pay current liabilities and finance authorized purchases.
The CSB does not maintain bank accounts of its own, has no disbursing authority, and does not
maintain cash held outside of Treasury. Treasury disburses funds for the agency on demand.
Foreign currency payments are made either by Treasury or the Department of State and are
reported by the CSB in the U.S. dollar equivalents.
E.	Accounts Receivable
Accounts receivable consists of amounts owed to the CSB by other Federal agencies and the
general public. Amounts due from Federal agencies are considered fully collectible. Accounts
receivable from the public include reimbursements from employees. An allowance for
uncollectible accounts receivable from the public is established when, based upon a review of
outstanding accounts and the failure of all collection efforts, management determines that
collection is unlikely to occur considering the debtor's ability to pay.
F.	Property, Equipment, and Software
Property, equipment and software represent furniture, fixtures, equipment, and information
technology hardware and software which are recorded at original acquisition cost and are
depreciated or amortized using the straight-line method over their estimated useful lives. Major
alterations and renovations are capitalized, while maintenance and repair costs are expensed as
incurred. The CSB's capitalization threshold is $10,000 for individual purchases and $50,000 for
bulk purchases. Property, equipment, and software acquisitions that do not meet the
capitalization criteria are expensed upon receipt. Applicable standard governmental guidelines
regulate the disposal and convertibility of agency property, equipment, and software. The useful
life classifications for capitalized assets are as follows:
Description
Leasehold Improvements
Office Furniture
Office Equipment
Computer Equipment
Software
Useful Life (years)
Lease Term
7
5
3
3
6

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G. Liabilities
Liabilities represent the amount of funds likely to be paid by the CSB as a result of transactions or
events that have already occurred.
The CSB reports its liabilities under two categories, Intragovernmental and With the Public.
Intragovernmental liabilities represent funds owed to another government agency. Liabilities
with the Public represent funds owed to any entity or person that is not a federal agency,
including private sector firms and federal employees. Each of these categories may include
liabilities that are covered by budgetary resources and liabilities not covered by budgetary
resources.
Liabilities covered by budgetary resources are liabilities funded by a current appropriation or
other funding source. These consist of accounts payable and accrued payroll and benefits.
Accounts payable represent amounts owed to another entity for goods ordered and received and
for services rendered except for employees. Accrued payroll and benefits represent payroll costs
earned by employees during the fiscal year which are not paid until the next fiscal year.
Liabilities not covered by budgetary resources are liabilities that are not funded by any current
appropriation or other funding source. These liabilities consist of accrued annual leave, deferred
rent, actuarial FECA, and the amounts due to Treasury for collection and accounts receivable of
civil penalties and FOIA request fees.
H.	Annual, Sick, and Other Leave
Annual leave is accrued as it is earned, and the accrual is reduced as leave is taken. The balance
in the accrued leave account is adjusted to reflect current pay rates. Liabilities associated with
other types of vested leave, including compensatory, restored leave, and sick leave in certain
circumstances, are accrued at year-end, based on latest pay rates and unused hours of leave.
Funding will be obtained from future financing sources to the extent that current or prior year
appropriations are not available to fund annual and other types of vested leave earned but not
taken. Nonvested leave is expensed when used. Any liability for sick leave that is accrued but
not taken by a Civil Service Retirement System (CSRS)-covered employee is transferred to the
Office of Personnel Management (OPM) upon the retirement of that individual. Credit is given
for sick leave balances in the computation of annuities upon the retirement of Federal Employees
Retirement System (FERS)-covered employees.
I.	Accrued and Actuarial Workers' Compensation
The Federal Employees' Compensation Act (FECA) administered by the U.S. Department of
Labor (DOL) addresses all claims brought by the CSB employees for on-the-job injuries. The
DOL bills each agency annually as its claims are paid, but payment of these bills is deferred for
two years to allow for funding through the budget process. Similarly, employees that the CSB
terminates without cause may receive unemployment compensation benefits under the
unemployment insurance program also administered by the DOL, which bills each agency
quarterly for paid claims. Future appropriations will be used for the reimbursement to DOL. The
liability consists of the unreimbursed cost paid by DOL for compensation to recipients under the
FECA.
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J. Retirement Plans
The CSB employees participate in either the CSRS or the FERS. The employees who participate
in CSRS are beneficiaries of CSB matching contribution, equal to seven percent of pay,
distributed to their annuity account in the Civil Service Retirement and Disability Fund.
Prior to December 31, 1983, all employees were covered under the CSRS program. From
January 1, 1984 through December 31, 1986, employees had the option of remaining under CSRS
or joining FERS and Social Security. Employees hired as of January 1, 1987 are automatically
covered by the FERS program. Both CSRS and FERS employees may participate in the federal
Thrift Savings Plan (TSP). FERS employees receive an automatic agency contribution equal to
one percent of pay and the CSB matches any employee contribution up to an additional four
percent of pay. For FERS participants, the CSB also contributes the employer's matching share
of Social Security.
FERS employees and certain CSRS reinstatement employees are eligible to participate in the
Social Security program after retirement. In these instances, the CSB remits the employer's share
of the required contribution.
The CSB recognizes the imputed cost of pension and other retirement benefits during the
employees' active years of service. OPM actuaries determine pension cost factors by calculating
the value of pension benefits expected to be paid in the future and communicate these factors to
the CSB for current period expense reporting. OPM also provides information regarding the full
cost of health and life insurance benefits. The CSB recognized the offsetting revenue as imputed
financing sources to the extent these expenses will be paid by OPM.
The CSB does not report on its financial statements information pertaining to the retirement plans
covering its employees. Reporting amounts such as plan assets, accumulated plan benefits, and
related unfunded liabilities, if any, is the responsibility of the OPM, as the administrator.
K. Other Post-Employment Benefits
The CSB employees eligible to participate in the Federal Employees' Health Benefits Plan
(FEHBP) and the Federal Employees' Group Life Insurance Program (FEGLIP) may continue to
participate in these programs after their retirement. The OPM has provided the CSB with certain
cost factors that estimate the true cost of providing the post-retirement benefit to current
employees. The CSB recognizes a current cost for these and Other Retirement Benefits (ORB) at
the time the employee's services are rendered. The ORB expense is financed by OPM, and offset
by the CSB through the recognition of an imputed financing source.
L. Use of Estimates
The preparation of the accompanying financial statements in accordance with generally accepted
accounting principles requires management to make certain estimates and assumptions that affect
the reported amounts of assets, liabilities, revenues, and expenses. Actual results could differ
from those estimates.
M. Classified Activities
Accounting standards require all reporting entities to disclose that accounting standards allow
certain presentations and disclosures to be modified, if needed, to prevent the disclosure of
classified information.
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NOTE 2. FUND BALANCE WITH TREASURY
Fund balance with Treasury account balances as of September 30, 2019 and 2018, were as
follows:
2019	2018
Status of Fund Balance with Treasury:
Unobligated Balance
Available	$ 2,148,408	$ 920,907
Unavailable	1,127,660	877,041
^bligatedI3alanc£NotYetDisburse(^^^^^^^^^^^^;853;765^^^^^^^^;510;99^
Total	$ 6,129,833	$ 4,308,944
No discrepancies exist between the Fund Balance reflected on the Balance Sheet and the balances
in the Treasury accounts.
The available unobligated fund balances represent the current-period amount available for
obligation or commitment. At the start of the next fiscal year, this amount will become part of the
unavailable balance as described in the following paragraph.
The unavailable unobligated fund balances represent the amount of appropriations for which the
period of availability for obligation has expired. These balances are available for upward
adjustments of obligations incurred only during the period for which the appropriation was
available for obligation or for paying claims attributable to the appropriations.
The obligated balance not yet disbursed includes accounts payable, accrued expenses, and
undelivered orders that have not yet decreased the fund balance on hand (see also Note 9).
NOTE 3. ACCOUNTS RECEIVABLE
Accounts receivable balances as of September 30, 2019 and 2018, were as follows:


2019
2018 1
With the Public



Accounts Receivable
$
536
$
Total Accounts Receivable
$
536
$
The accounts receivable is primarily made up of reimbursements due from employees.
Historical experience has indicated that the majority of the receivables are collectible. There are
no material uncollectible accounts as of September 30, 2019 and 2018.
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NOTE 4. PROPERTY, EQUIPMENT, AND SOFTWARE
Schedule of Property, Equipment, and Software as of September 30, 2019:


Accumulated


Acquisition
Amortization/
Net Book
Major Class
Cost
Depreciation
Value
Leasehold Improvements
$ 271,851
$
262,789
$ 9,062
Furniture & Equipment
1,377,209

1,034,843
342,366
Software
243,165

243,165
-
Total
$ 1,892,225
$
1,540,797
$ 351,4281
Schedule of Property, Equipment, and Software as
of September 30, 2018:



Accumulated


Acquisition
Amortization/
Net Book
Major Class
Cost
Depreciation
Value
Leasehold Improvements
$ 271,851
$
208,419
$ 63,432
Furniture & Equipment
1,224,349

922,720
301,629
Software
243,165

185,568
57,597
Total
$ 1,739,365
$
1,316,707
$ 422,6581
NOTE 5. LIABILITIES NOT COVERED BY BUDGETARY RESOURCES
The liabilities for the CSB as of September 30, 2019 and 2018, include liabilities not covered by
budgetary resources. Congressional action is needed before budgetary resources can be provided.
Although future appropriations to fund these liabilities are likely and anticipated, it is not certain
that appropriations will be enacted to fund these liabilities.


2019

2018 1
Intragovernmental - FECA
Intragovernmental - Unemployment Insurance
Unfunded Leave
$
1,020
432,082
$
1,020
10,527
392,509
Total Liabilities Not Covered by Budgetary Resources
Total Liabilities Covered by Budgetary Resources
$
433,102
1,023,764
$
404,056
611,371
Total Liabilities
$
1,456,866
$
1,015,427
FECA and the Unemployment Insurance liabilities represent the unfunded liability for actual
workers compensation claims paid on the CSB's behalf and payable to the DOL.
Unfunded leave represents a liability for earned leave and is reduced when leave is taken. The
balance in the accrued annual leave account is reviewed quarterly and adjusted as needed to
accurately reflect the liability at current pay rates and leave balances. Accrued annual leave is
paid from future funding sources and, accordingly, is reflected as a liability not covered by
budgetary resources. Sick and other leave is expensed as taken.
10

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NOTE 6. OTHER LIABILITIES
Other liabilities account balances as of September 30, 2019 were as follows:

Current Non Current
Total
Int rago vernment al
FECA Liability
Payroll Taxes Payable
$ 1,020 $
47,253
$ 1,020
47,253
T otal Intragovernmental Other Liabilities
$ 48,273 $
$ 48,273|
With the Public
Payroll Taxes Payable
Accrued Funded Payroll and Leave
Unfunded Leave
$ 16,448 $
183,192
432,082
$ 16,448
183,192
432,082
Total Public Other Liabilities
$ 631,722 $
$ 631,722
Other liabilities account balances as of September 30, 2018 were as follows:

Current Non Current
Total
Int rago vernment al
FECA Liability
Unemployment Insurance Liability
Payroll Taxes Payable
$ 1,020 $
10,527
46,202
$ 1,020
10,527
46,202
T otal Intragovernmental Other Liabilities
$ 57,749 $
$ 57,749
With the Public
Payroll Taxes Payable
Accrued Funded Payroll and Leave
Unfunded Leave
$ 12,396 $
169,684
392,509
$ 12,396
169,684
392,509
Total Public Other Liabilities	$	574,589	$	-	$	574,589
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NOTE 7. LEASES
Operating Leases
The CSB occupies offices in Washington, DC and Denver, CO under lease agreements, which are
both accounted for as operating leases.
On July 15, 2019, the Washington DC lease agreement was amended to commence July 15, 2019
and end on July 14, 2024, with a two-year renewal option. The amendment included caps for
annual adjustments to real estate taxes, operating expenses, and a 24-hour HVAC requirement.
Finally, the amendment changed agreed upon rent abatements in the original lease. Below is a
schedule of future payments for the lease through July 14, 2024 including agreed upon annual
caps and rent abatements.
Washington, DC
Fiscal Year
2020
2021
2022
2023
2024	(8 months)
Office Space
619,275
673,920
740,195
881,510
846,522
Total Future Payments
$ 3,761,422
The lease agreement for office space in Denver, CO is accounted for as an operating lease. The
lease agreement is for a period of 60 months commencing on or about December 1, 2014 and
ending on November 30, 2019. The CSB began negotiations to extend the lease agreement up to
five years but had not executed an extension by September 30, 2019.
Under the current and proposed agreements, lease payments are increased annually based on the
adjustments for operating cost. The CSB may relinquish space upon four (4) months" notice.
Thus, at any future time, the CSB's financial obligation can be reduced to four (4) months of rent,
plus the unamortized balance of any tenant improvements financed through Public Buildings
Service (PBS) plus any rent concessions not yet earned. Below is a schedule of future payments
for the Denver lease for the last two months of the current lease agreement.
Denver, CO
1 Fiscal Year
Office Space 1
2020 (2 months)
$ 16,511
Total Future Payments
$ 16,511
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NOTE 8. BUDGETARY RESOURCE COMPARISONS TO THE BUDGET OF THE
UNITED STATES GOVERNMENT
The President's Budget that will include fiscal year 2019 actual budgetary execution information
has not yet been published. The President's Budget is scheduled for publication in February 2020
and can be found at the OMB Web site: htti>: www.wliiteliottse.gov omh . The 2020 Budget of
the United States Government, with the "Actual" column completed for 2018, has been
reconciled to the Statement of Budgetary Resources and there were no material differences.
FY2018

Distributed
Budgetary Obligations Offsetting
Resources Incurred Receipts
Net
Outlays
Statement of Budgetary Resources
Unobligated Balance Not Available

$ 13,000,000 $ 11.000.000 $
(1.000.000) - $
$ 11.000.000
Budget of the U.S. Government

$ 12.000.000 $ 11.000.000 $
$ 11.000.000
NOTE 9. UNDELIVERED ORDERS AT THE END OF THE PERIOD

As of September 30, 2019 budgetary :
resources obligated for undelivered orders were as follows:


Federal Non-Federal
Total
Unpaid Undelivered Orders

19,201 $ 1,810,799 $
1,830,000
Total Undelivered Orders

19,201 $ 1,810,799 $
1,830,000
As of September 30, 2018, budgetary
resources obligated for undelivered orders were as follows:


Federal Non-Federal
Total
Unpaid Undelivered Orders

19,008 $ 1,880,615 $
1,899,623
Total Undelivered Orders

19,008 $ 1,880,615 $
1,899,623
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NOTE 10. RECONCILIATION OF NET COST TO NET OUTLAYS
The reconciliation of net outlays, presented on a budgetary basis, and the net cost, presented on
an accrual basis, provides an explanation of the relationship between budgetary and financial
accounting information.
BUDGET AND ACCRUAL RECONCILIATION
FOR THE YEAR ENDED SEPTEMBER 30,2019
(In Dollars)
1 Intrag overmnental
With the Public

Total 1
Net Operating Cost (SNC) $
2,343,726
$
8.416.564
$
10.760.290
Components of Net Operating Cost Not Part of the Budgetary
Outlays
Property, plant, and equipment depreciation


(226.030)

(226.030)
(Increase)/Decrease in assets not affecting Budget Outlays:
Accounts receivable
-

536

536
(Increase)/Decrease in liabilities not affecting Budget Outlays:
Accounts payable
Salaries and benefits
Other liabilities
(26,264)
(1.051)
10.527

(367.519)
(17.559)
(39.573)

(393.783)
(18.610)
(29.046)
Other financing sources:
Imputed federal employee retirement benefit costs
(314.753)



(314.753)
Total Components of Net Operating Cost Not Part of the Budget
Outlays $
(331.541)
$
(650.145)
$
(981.686)
Components of the Budget Outlays That Are Not Part of Net
Operating Cost
Acquisition of capital assets
Other
-

154.800
4.532

154.800
4.532
Total Components of the Budget Outlays That Are Not Part of Net
Operating Cost $

$
159.332
$
159.332

Net Outlays (Calculated Total) $
2.012.185
$
7.925.751
$
9.937.936
Related Amounts on the Statement of Budgetary Resources
Outlays, net, (total) (SBR4190)
Distributed offsetting receipts (SBR4200)



$
9.933.404
4.532
Outlays. Net (SBR4210)	$ 9.937.936
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NOTE 11. INTER-ENTITY COSTS
CSB recognizes certain inter-entity costs for goods and services that are received from other
federal entities at no cost or at a cost less than the full cost. Certain costs of the providing entity
that are not fully reimbursed are recognized as imputed cost and are offset by imputed revenue.
Such imputed costs relate to employee benefits. CSB recognizes as inter-entity costs the amount
of accrued pension and post-retirement benefit expenses for current employees. The assets and
liabilities associated with such benefits are the responsibility of the administering agency, OPM.
For the periods ended September 30, 2019 and 2018, respectively, inter-entity costs were as
follows:

2019
2018 1
Office of Personnel Management
$ 314,753
$ 336,102
National Transportation Safety Board
-
86,559
Total Imputed Financing Sources
$ 314,753
$ 422,661
NOTE 12. APPORTIONMENT CATEGORIES OF NEW OBLIGATIONS AND
UPWARD ADJUSTMENTS
New obligations and upward adjustments reported in the Statement of Budgetary Resources in
2019 and 2018 consisted of the following:

2019
2018 1
Direct Obligations, Category B $
10,711,527
$ 10,940,896
Total New Obligations and Upward Adjustments $
10,711,527
$ 10,940,896|
Category B apportionments typically distribute budgetary resources by activities, projects, objects
or a combination of these categories.
NOTE 13. CUSTODIAL ACTIVITY
The CSB 's custodial collection primarily consists of Freedom of Information Act requests. While
these collections are considered custodial, they are neither primary to the mission of the CSB nor
material to the overall financial statements. The CSB's total custodial collections are $4,532 and
$0 for the years ended September 30, 2019, and 2018, respectively.
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NOTE 14. NET ADJUSTMENTS TO UNOBLIGATED BALANCE, BROUGHT
FORWARD, OCTOBER 1
The Unobligated Balance Brought Forward from the prior fiscal year has been adjusted for
recoveries of prior year paid and unpaid obligations and other changes such as canceled authority.
The Adjustments to Unobligated Balance Brought Forward, October 1, as of September 30, 2019,
and 2018, consisted of the following:

2019
2018 1
Unobligated Balance Brought Forward, October 1
$ 1,797,948 $
1,730,873
Recoveries of Prior Year Obligations
435,354
166,886
Other Changes in Unobligated Balances
(245,707)
(158,915)
Unobligated Balance From Prior Year Budget Authority, Net
$ 1,987,595 $
1,738,844
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