CUSTOMER SERVICE * INTEGRITY ~ ACCOUNTABILITY
U.S. Chemical Safety Board
Contractor-Produced
Report: U.S. Chemical
Safety and Hazard
Investigation Board Fiscal
Years 2021 and 2020
Financial Statement Audit
Report No. 22-F-0005
November 15, 2021

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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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Office of Inspector General
U.S. Environmental Protection Agency
At a Glance
22-F-0005
November 15, 2021
Why This Audit Was Done
The audit was performed in
accordance with the
Accountability of Tax Dollars Act
of 2002, which requires the
U.S. Chemical Safety and
Hazard Investigation Board to
prepare, and the Office of
Inspector General to audit, the
Board's financial statements
each year.
The U.S. Environmental
Protection Agency's OIG, which
also serves as the OIG for the
CSB, contracted with Allmond &
Company to perform the audit of
the CSB's fiscal years 2021 and
2020 financial statements.
Contractor-Produced Report: U.S. Chemical
Safety and Hazard Investigation Board Fiscal
Years 2021 and 2020 Financial Statement
Audit
What Allmond & Company Found
Allmond & Company rendered an unmodified
opinion on the CSB's financial statements for
fiscal years 2021 and 2020, meaning that the
statements were fairly presented and free of
material misstatements.
Allmond & Company found
the CSB's financial
statements to be fairly
presented and free of
material misstatements.
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 2021 and 2020 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 that report. We do not express any opinion or
conclusions on the CSB's financial statements; internal control; or compliance
with laws, regulations, contracts, and grant agreements.
Allmond & Company made no recommendations to the CSB.
This audit supports a CSB goal:
 Create and maintain an
engaged, high-performing
workforce.
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 15, 2021
Katherine A. Lemos, PhD
Chairperson and Chief Executive Officer
U.S. Chemical Safety and Hazard Investigation Board
1750 Pennsylvania Avenue NW, Suite 910
Washington, D.C. 20006
Dear Dr. Lemos:
RE: Report No. 22-F-0005, Contractor-Produced Report: U.S. Chemical Safety and Hazard
Investigation Board Fiscal Years 2021 and 2020 Financial Statement Audit
This letter transmits the audit report on the U.S. Chemical Safety and Hazard Investigation Board's fiscal
years 2021 and 2020 financial statements. The audit is required by the Accountability of Tax Dollars Act
of 2002, Pub. L. 107-289. 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,
2021 and 2020. The audit was conducted in accordance with the comptroller general of the United States'
Government Auditing Standards and Office of Management and Budget Bulletin 21-04,
Audit Requirements for Federal Financial Statements.
Allmond & Company is responsible for the enclosed auditor's report, which is dated November 12, 2021,
and the opinions and conclusions expressed in that report. We do not express any opinion or conclusions
on the CSB's financial statements; internal control; or compliance with laws, regulations, contracts, and
grant agreements.
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,
Director
Financial Directorate
Office of Audit
Enclosure

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U.S. CHEMICAL SAFETY AND HAZARD INVESTIGATION BOARD FISCAL
YEARS 2021 and 2020 FINANCIAL STATEMENT AUDIT

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

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Allmond 6t Company, LLC
750 I Forbes Boulevard, Suite 200
Lanham, Maryland 20706
Certified Public Accountants
(30 I ) Q I 8-8200
Facsimile (30 1)91 0-82O I
Independent Auditors' Report
Chairman and CEO, U.S. Chemical Safety and Hazard Investigation Board
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, 2021 and 2020; 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 2021 and 2020 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. 21-04, Audit Requirements for Federal Financial Statements. Those standards and
OMB Bulletin No. 21-04 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.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion.

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Independent Auditors' Report
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, 2021
and 2020, 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
Chairman 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, 2021, 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. 21-04. 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
weaknesses or significant deficiencies may exist that were not identified. Given these limitations, during
our fiscal year 2021 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.

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Independent Auditors' Report
Compliance and Other Matters
As part of obtaining reasonable assurance about whether CSB's fiscal year 2021 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. 21-04. 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. 21-04.
CSB's Response to Auditors' Report
The CSB's response to the auditors' report is included immediately following this report. The CSB's
responses were not subjected to the auditing procedures applied in the audit of the financial statements and,
accordingly, we express no opinion on them.
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.
Lanham, MD
November 12, 2021

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U.S. Chemical Safety and Hazard Investigation Board
U.S. Chemical Safety and
Hazard investigation Board	Memorandum
To:	Paul C. Curtis, Director - Financial Directorate, Office of Audit, Office of Inspector General
From: Katherine A. Lemos, Chairman and CEO
Cc:	David LaCerte - Acting Managing Director	
Bruce Walker - Senior Advisor and Audit Liaison	1		*
Michele Lawson - Finance Director	^
Chuong Dai Nguyen - Acting Chief Financial Officer
Subject: Management Response to the Office of Inspector General (OIG) Fiscal Year 2021's
Draft Audit Report
Date:	November 12, 2021
The U.S. Chemical Safety and Hazard Investigation Board (CSB or "Agency") has performed significant
work to ensure 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.
We are pleased to receive the independent auditor's report with an Unmodified Opinion, the highest level
of assurance that the CSB's financial statements are presented, in all material respects, in accordance with
applicable financial reporting requirements.
The Federal Manager's Financial Integrity Act (FMFIA) requires the CSB to annually evaluate its
management controls and identify any material weaknesses. This requirement covers all the CSB's
programs and administrative functions. As the CSB works to serve the American people, we must
administer our programs as efficiently, economically, and responsibly. The CSB relies on a system of
management controls to provide reasonable assurance that our financial activities comply with all
applicable laws, and safeguards resources, as well as properly accounts for expenditures. This
tremendous effort has resulted in CSB's notable fiscal year 2021 financial statements are free of material
statements, as testified in the independent auditor's report.
Based on both internal and external evaluations, and knowledge gained from daily operations, I can
certify with reasonable assurance that the CSB is in compliance with the provisions of the FMFIA.
We appreciate the opportunity to respond to the OIG draft report. Please contact Chuong Dai Nguyen in
the Office of Financial Operations at (202) 302-9090 with any questions.

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
FINANCIAL STATEMENTS
FOR THE YEARS ENDED
SEPTEMBER 30, 2021 AND 2020

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
FINANCIAL STATEMENTS
FOR THE YEARS ENDED SEPTEMBER 30, 2021 AND 2020
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		5-15

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
BALANCE SHEET
AS OF SEPTEMBER 30,2021 AND 2020
(In Dollars)

2021
2020 1
Assets:


Intragovemmental:


Fund Balance with Treasury (Note 2)
$ 8.891.840 $
7.263.197
Advances and Prepayments
-
2.856
T otal Intragovemmental
8.891.840
7.266.053
Accounts Receivable, Net (Note 3)
33.294
.
General Property. Plant, and Equipment. Net (Note 4)
168.190
255.283
Total With the Public
201.484
255.283
Total Assets
$ 9.093.324 $
7.521.336
Liabilities (Note 5):


Intragovemmental:


Accounts Payable
24.649
27.098
Other Liabilities (Note 6)
78.329
79.635
Total Intragovemmental
102.978
106.733
Accounts Payable
413.472
501.750
Federal Employee [and Veteran] Benefits Payable
419.865
555.037
Other Liabilities (Note 6)
396.058
244.900
Total With the Public
1.229.395
1.301.687
Total Liabilities
$ 1.332.373 $
1.408.420
Net Position:


Unexpended Appropriations - Funds from Other than Dedicated Collections
7.970.381
6.408.029
Total Unexpended Appropriations
7.970.381
6.408.029
Cumulative Results of Operations - Funds from Other than Dedicated Collections
(209.430)
(295.113)
Total Net Position
7.760.951
6.112.916
Total Liabilities and Net Position
$ 9.093.324 $
7.521.336
1

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
STATEMENT OF NET COST
FOR THE YEARS ENDED SEPTEMBER 30, 2021 AND 2020
(In Dollars)

2021
2020 1
Gross Program Costs:


Gross Costs
$ 10,225,911 $
10,850,698
Less: Earned Revenue
(150)
-
Net Cost of Operations
$ 10,225,761 $
10,850,698
2

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
STATEMENT OF CHANGES IN NET POSITION
FOR THE YEARS ENDED SEPTEMBER 30, 2021 AND 2020
(In Dollars)

2021
2020

Consolidated Total
Consolidated Total
Unexpended Appropriations:


Beginning Balances
$ 6,408,029
$ 5,106,068
Appropriations Received
12,000,000
12,000,000
Other Adjustments
(399,640)
(350,023)
Appropriations Used
(10,038,008)
(10,348,016)
Net Change in Unexpended Appropriations
1,562,352
1,301,961
Total Unexpended Appropriations - Ending
$ 7,970,381
$ 6,408,029
Cumulative Results of Operations:


Beginning Balances
$ (295,113)
$ (81,137)
Appropriations Used
10,038,008
10,348,016
Imputed Financing (Note 9)
273,586
288,706
Other
(150)
-
Net Cost of Operations
(10,225,761)
(10,850,698)
Net Change in Cumulative Results of Operations
85,683
(213,976)
Cumulative Results of Operations - Ending
$ (209,430)
$ (295,113)
Net Position
$ 7,760,951
$ 6,112,916
3

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U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD
STATEMENT OF BUDGETARY RESOURCES
FOR THE YEARS ENDED SEPTEMBER 30, 2021 AND 2020
(In Dollars)

2021
2020 1
Budgetary Resources:
Unobligated balance from prior year budget authority, net (Note 10)
Appropriations
$ 4.930.873 3
12.000.000
> 3.245.177
12.000.000
Total Budgetary Resources
$ 16.930.873 3
> 15.245.177
Status of Budgetary Resources:
New obligations and upward adjustments (total)
Apportioned, unexpired accounts
$ 11.375.092 3
1.494.381
> 10.263.757
2.713.510
Unexpired unobligated balance, end of year
Expired unobligated balance, end of year
1.494.381
4.061.400
2.713.510
2.267.910
Unobligated balance, end of year (total)
5.555.781
4.981.420
Total Budgetary Resources
$ 16.930.873 3
> 15.245.177
Outlays, Net and Disbursements, Net:
Outlays, net (total)
9.971.716
10.516.614
Agency outlays, ne1
9.971.716
10.516.614
4

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CHEMICAL SAFETY AND HAZARD INVESTIGATION BOARD
NOTES TO THE FIN ANCI AL STATEMENTS
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. The 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 ailes 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.
5

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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 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
FBWT is an asset of a reporting entity and a liability of the General Fund. It 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. Funds are disbursed 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.	Advances and Prepaid Charges
Advance payments are generally prohibited by law. There are some exceptions, such as
reimbursable agreements, subscriptions and payments to contractors and employees. Payments
made in advance of the receipt of goods and services are recorded as advances or prepaid charges
at the time of prepayment and recognized as expenses when the related goods and services are
received.
H.	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.
I.	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.
J. 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
7

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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.
K. Retirement Plans
The CSB employees participate in either the CSRS or the FERS. The employees who participate
in CSRS are beneficiaries of CSB's 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.
L. 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.
M. 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.
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N. 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.
O. Reclassification
Certain fiscal year 2020 balances have been reclassified, retitled, or combined with other financial
statement line items for consistency with the current year presentation.
NOTE 2. FUND BALANCE WITH TREASURY
Fund Balance with Treasury account balances as of September 30,2021 and 2020, were as follows:
2021	2020
Status of Fund Balance with Treasury:
Unobligated Balance
Available	$ 1,494,380	$ 2,713,511
Unavailable	4,061,400	2,267,910
Obligated Balance Not Yet Disbursed	3.336.060	2.281.776
Total	$ 8,891,840	$ 7,263,197
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 13).
NOTE 3. ACCOUNTS RECEIVABLE, NET
Accounts receivable balances as of September 30, 2021 and 2020, were as follows:

2021
2020 1
With the Public


Accounts Receivable
$ 33,294
$
T otal Accounts Receivable
$ 33,294
$
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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, 2021 and 2020.
NOTE 4. GENERAL PROPERTY, PLANT AND EQUIPMENT, NET
Schedule of General Property, Plant and Equipment, Net as of September 30, 2021:
Acquisition
Major Class Cost
Accumulated
Amortization/
Depreciation Net Book Value
Leasehold Improvements $ 271,851
Furniture & Equipment 1,405,249
Software 226,797
$ 271,851 $
1,285,872
177,984
119,377
48,813
Total $ 1,903,897
$ 1,735,707 $
168,190
Schedule of General Property, Plant and Equipment, Net as
of September 30, 2020:

Acquisition
Major Class Cost
Accumulated
Amortization/
Depreciation Net Book Value
Leasehold Improvements $ 271,851
Furniture & Equipment 1,343,781
Software 226,797
$ 271,851 $
1,162,778
152,517
181,003
74,280
Total $ 1,842,429
$ 1,587,146 $
255,283 |
NOTE 5. LIABILITIES NOT COVERED BY BUDGETARY RESOURCES

The liabilities for the CSB as of September 30, 2021 and 2020 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.

2021
2020
Intragovernmental - FECA
Intragovernmental - Unemployment Insurance
Unfunded Leave
$ 1,020 $
407,694
1,020
10,944
538,433
Total Liabilities Not Covered by Budgetary Resources
Total Liabilities Covered by Budgetary Resources
Total Liabilities Not Requiring Budgetary Resources
$ 408,714 $
921,459
2,200
550,397
858,023
Total Liabilities
$ 1,332,373 $
1,408,420
FECA and the Unemployment Insurance liabilities represent the unfunded liability for actual
workers compensation claims and unemployment benefits 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
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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.
NOTE 6. OTHER LIABILITIES
Other liabilities account balances as of September 30, 2021 were as follows:
Current Year:
Current	Non Current	Total
Intragovemmental
Employer Contributions and Payroll Taxes
Payable (without reciprocals) 1
S 24,018 $
$ 24,018
Custodial Liability (to the General Fund)
2,050
2,050
Liability for Non-Entity Assets Not


Reported on the Statement of Custodial


Activity (to the General Fund)
150
150
Employer Contributions and Payroll Taxes


Payable 1
S 51,091 $
$ 51,091
Unfunded FECA Liability
1,020
1,020
Total Intragovemmental Other Liabilities 1
S 78,329 $
$ 78,3291
Other liabilities account balances as of September 30, 2020 were as follows:

Current Non Current
Total
Intragovemmental


Employer Contributions and Payroll Taxes


Payable (without reciprocals)
$ 18,008 $
$ 18,008
Employer Contributions and Payroll Taxes


Payable
$ 49,663 $
$ 49,663
Unfunded FECA Liability
1,020
1,020
Other Unfunded Employment Related


Liability
10,944
10,944
Other Liabilities
-
-
T otal Intragovemmental Other Liabilities
$ 79,635 $
$ 79,6351
With the Public


Accrued Funded Payroll and Leave
$ 244,900 $
$ 244,900
Total Public Other Liabilities
$ 244,900 $
$ 244,9001
T otal Other Liabilities
$ 324,535 $
$ 324,535
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NOTE 7. LEASES
Operating Leases
The CSB occupies office space in Washington, DC. The Washington, DC office currently has a
lease agreement which is accounted for as an operating lease.
On July 15, 2019, the CSB entered into a Novation Agreement which recognized the transfer in
ownership of its headquarters building and established a new lease term with the new building
owner. The new agreement began on July 15, 2019 and is scheduled to terminate on July 14, 2024.
The CSB has the option to extend the lease for one (1) additional term, from July 15, 2024, through
September 30, 2025. The novation lease includes 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 September 30, 2025, including agreed upon annual caps and rent abatements.
Washington. DC

Fiscal Year
Office Space
2022

614,321
2023

725,135
2024

815,143
2025

654,147
Total Future Payments

$ 2,808,746
The lease agreement for office space in Denver, CO is accounted for as an operating lease.
However, the Denver Federal Center was closed on December 31, 2020. Therefore, per the
agreement with GSA, the CSB is responsible for covering the full rent for the Denver Federal
Center for the first three (3) months of Fiscal Year 2021, totaling the amount of $24, 645.
NOTE 8. INTER-ENTITY COSTS
The 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 and revenues relate to employee benefits and claims to be settled by the
Treasury Judgement Fund. The 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, 2021 and 2020, respectively, inter-entity costs were as follows:

2021
2020 1
Office of Personnel Management
$ 273,586
$ 288,706
Total Imputed Financing Sources
$ 273,586
$ 288,706
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NOTE 9. UNDELIVERED ORDERS AT THE END OF THE PERIOD
As of September 30, 2021, budgetary resources obligated for undelivered orders were as follows:

Federal
Non-Federal
Total
Unpaid Undelivered Orders
$ 39,156
$ 2,375,444
$ 2,414,600
Total Undelivered Orders
$ 39,156
$ 2,375,444
$ 2,414,600
As of September 30, 2020, budgetary resources obligated for undelivered orders were as follows:

Federal
Non-Federal
Total 1
Paid Undelivered Orders
$ 2,856
$
$ 2,856
Unpaid Undelivered Orders
58,291
1,365,461
1,423,752
Total Undelivered Orders
$ 61,147
$ 1,365,461
$ 1,426,608
NOTE 10. EXPLANATION OF DIFFERENCES BETWEEN THE SBR AND THE
BUDGET OF THE U.S. GOVERNMENT
The President's Budget that will include fiscal year 2021 actual budgetary execution information
has not yet been published. The President's Budget is scheduled for publication in February 2022
and can be found at the OMB Web site: hlln: www.whitehottse.aov omh . The 2022 Budget of
the United States Government, with the "Actual" column completed for 2020, has been reconciled
to the Statement of Budgetary Resources and there were no material differences.
In Millions


New Obligations
Distributed


Budgetary
& Upward
Offsetting
Net

Resources
Adjustments (Total)
Receipts
Outlays
Combined Statement of Budgetary Resources
$ 15
$ 10
$
$ 11
Unobligated Balance Not Available
(2)
-
-
-
Budget of the U.S. Government
$ 13
$ 10
$
$ 11
NOTE 11. 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 $0,000 and
$0,000 for the years ended September 30, 2021, and 2020, respectively.
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NOTE 12. 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.
Reconciliation of Net Cost to Net Outlays as of September 30, 2021:
RECONCILIATION OF NET COST TO NET OUTLAYS
BUDGET AND ACCRUAL RECONCILIATION
FOR THE YEARS ENDED SEPTEMBER 30,2021
(In Dollars)

Intragovernmental
With the Public
Total 1
Net Operating Cost (SNC)
$ 2,531,351
$ 7,694,410 !
$ 10,225,761
Components ofNet Cost Not Part of the Budgetary Outlays
Property, Plant, and Equipment Depreciation Expense
.
(153,197)
(153,197)
Increase/(Deerease) in Assets:
Accounts Receivable, Net
Other Assets
(2,856)
33,294
33,294
(2,856)
(Increase)/Decrease in Liabilities:
Accounts Payable
Federal Employee and Veteran Benefits Payable
Other Liabilities
2,449
1,306
88,278
135,172
(151,158)
90,727
135,172
(149,852)
Financing Sources:
Imputed Cost
(273,586)

(273,586)
Total Components ofNet Operating Cost Not Part of the Budgetary Outlays
$ (272,687)
$ (47,611) :
S (320,298)
Components of the Budget Outlays That Are Not Part ofNet Operating Cost
Acquisition of Capital Assets

66,103
66,103
Total Components of the Budget Outlays That Are Not Part ofNet Operating Cost
$
$ 66,103 :
$ 66,103
Misc Items
Custodial/Non-Exchange Revenue
Non-Entity Activity
2,050
150
(2,050)
150
Total Other Reconciling Items
$ 2,200
$ (2,050) :
S 150

Total Net Outlays (Calculated Total)
$ 2,260,864
$ 7,710,852 !
$ 9,971,716
Budgetary Agency Outlays, Net (SBR 4210)
Budgetary Agency Outlays, Net


$ 9,971,716
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Reconciliation of Net Cost to Net Outlays as of September 30, 2020:
RECONCILIATION OF NET COST TO NET OUTLAYS
BUDGET AND ACCRUAL RECONCILIATION
FOR THE YEARS ENDED SEPTEMBER 30. 2020
|J~S {In Dollars)

Intragoyernmental
With the Public

Total
Net Operating Cost (SNC)
S
2.619.099
S
8,231,599
S
10,850,698
Components of Net Cost Not Part of the Budgetary Outlays
Property. Plant, and Equipment Depreciation Expense
Increase/(Decrease) in Assets:
Accounts Receivable. Net
Other Assets

2,856

(172,547)
(536)

(172,547)
(536)
2,856
(Increase)..'Decrease in Liabilities:
Accounts Payable
Federal Employee and Veteran Benefits Payable
Other Liabilities
Financing Sources:
Imputed Cost

7.670
(31.360)
(288.706)

240,353
(106,507)
(61,709)

248,023
(106,507)
(93,069)
(288,706)
Total Components of Net Operating Cost Not Part of the Budgetary Outlays
S
(309,540)
S
(100,946)
S
(410,486)
Components of the Budget Outlays That Are Not Part of Net Operating Cost
Acquisition of Capital Assets



76.402

76,402
Total Components of the Budget Outlays That Are Not Part of Net Operating Cost
$
_
$
76,402
:
76,402

Total Net Outlays (Calculated Total)
S
2,309.559
_s	
8.207.055
s
10.516.614
Budgetary Agency Outlays, Net (SBR 4210)
Budgetary Agency Outlays, Net




s
10.516.614
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