CUSTOMER SERVICE * INTEGRITY ~ ACCOUNTABILITY U.S. Chemical Safety Board Contractor-Produced Report: U.S. Chemical Safety and Hazard Investigation Board Fiscal Years 2022 and 2021 Financial Statement Audit Report No. 23-F-0001 November 15, 2022 ------- Abbreviations: CSB U.S. Chemical and Safety Hazard Investigation Board EPA U.S. Environmental Protection Agency OIG Office of Inspector General Are you aware of fraud, waste, or abuse in a CSB program? EPA Inspector General Hotline 1200 Pennsylvania Avenue, NW(2431T) Washington, D.C. 20460 (888) 546-8740 (202) 566-2599 (fax) OIG Hotline@epa.gov Learn more about our OIG Hotline. EPA Office of Inspector General 1200 Pennsylvania Avenue, NW (2410T) Washington, D.C. 20460 (202) 566-2391 www.epa.aov/oia Subscribe to our Email Updates. Follow us on Twitter @EPAoig. Send us your Project Suggestions. ------- Office of Inspector General U.S. Environmental Protection Agency At a Glance 23-F-0001 November 15, 2022 The audit was performed in 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 Protection Agency OIG, which Company LLC to perform the audit of the CSB's fiscal years This audit supports a CSB goal: engaged, high-performing workforce. Address inquiries to our public affairs office at (202) 566-2391 or OIG WEBCOMMENTS@epa.gov. List of OIG reports. Contractor-Produced Report: U.S. Chemical Safety and Hazard Investigation Board Fiscal Years 2022 and 2021 Financial Statement Audit What Allmond & Company Found Allmond & Company rendered an unmodified opinion on the CSB's financial statements for fiscal years 2022 and 2021, 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 misstatement. 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 2022 and 2021 audit disclosed one instance of noncompliance or other matters that are required to be reported. During fiscal year 2022, the CSB reported a violation of the Antideficiency Act that occurred during fiscal year 2020 related to the purchase of office furniture. 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, regulations, contracts, and grant agreements. Recommendations and Planned Agency Corrective Actions Allmond & Company recommended that the CSB update its policies and guidance to include limits on expenditures for office furniture and related improvements for political appointees and provide training to CSB staff and board members on those limits. The CSB certified that it created internal policies to provide guidance to its political appointees and staff and will conduct relevant training on the limits on expenditures for office furniture and related improvements for political appointees. Allmond & Company will conduct follow- up procedures during fiscal year 2023 to determine whether the corrective actions have been implemented. ------- UNITED STATES ENVIRONMENTAL PROTECTION AGENCY WASHINGTON, D.C. 20460 OFFICE OF INSPECTOR GENERAL November 15, 2022 Steve Owens Board Member and Interim Executive Authority U.S. Chemical Safety and Hazard Investigation Board 1750 Pennsylvania Avenue NW, Suite 910 Washington, D.C. 20006 Dear Mr. Owens: This letter transmits the audit report on the U.S. Chemical Safety and Hazard Investigation Board's fiscal years 2022 and 2021 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, 2022 and 2021. The audit was conducted in accordance with the comptroller general of the United States' Government Auditing Standards and Office of Management and Budget Bulletin 22-01, Audit Requirements for Federal Financial Statements. Allmond & Company is responsible for the enclosed auditor's report, dated November 11, 2022, 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. You provided corrective actions in response to the recommendations. Allmond & Company will conduct follow-up procedures in fiscal year 2023 to determine whether corrective actions have been implemented. 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, Dolkok (Ja&ison Damon Jackson, Director Financial Directorate Office of Audit Enclosure ------- CSB- 2022 Financial Statement Audit Contract: GS23F0111L/68HERH21F0086 Chemical Safety and Hazard Investigation Board (CSB) Fiscal Year 2022 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 1301 Constitution Avenue, NW Washington, DC 20004 Submitted by: Jason L. AllmondCPA, CGFM, CISA, CISM Managing Member Allmond & Company, LLC 7501 Forbes Blvd., Suite 200 Lanham, MD 20706 301-918-8200 j allm ond@allm ondcpa. com Final Independent Auditors' Report Prepared under contract to the Environmental Protection Agency (EPA) Office of Inspector General (OIG) to provide financial auditing services ------- U.S. CHEMCIAL SAFETY AND HAZARD INVESTIGATION BOARD AUDIT REPORT SEPTEMBER 30, 2022 ALLMOND & COMPANY, LLC Certified Public Accountants 7501 Forbes Blvd., Suite 200 Lanhain, Maryland 20706 (301) 918-8200 ------- Allmond & Company, LLC 750 I Forbes Boulevard, Suite 200 Lanham, Maryland 20706 Certified Public Accountants <30 1)91 8-8200 Facsimile (30 1)91 8-820 I Independent Auditors' Report Interim Executive Authority and Board member, U.S. Chemical Safety and Hazard Investigation Board Inspector General, Environmental Protection Agency: Report on the Financial Statements Pursuant to the Accountability of Tax Dollars Act of 2002, 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, 2022 and 2021; 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). In our opinion, the financial statements present fairly, in all material respects, the financial position of the U. S. Chemical Safety and Hazard Investigation Board as of September 30, 2022 and 2021, and its net cost of operations, changes in net position, and budgetary resources for the fiscal years then ended in accordance with U.S. generally accepted accounting principles. Basis for Opinion We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS); 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. 22-01, Audit Requirements for Federal Financial Statements. Our responsibilities under those standards and OMB Bulletin No. 22-01 are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of CSB and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Responsibilities of Management for the Financial Statements CSB management is responsible for (1) the preparation and fair presentation of these financial statements accounting principles generally accepted in the United States of America; (2) preparing, measuring, and presenting Required Supplementary Information (RSI) in accordance with U.S. generally accepted accounting principles; (3) preparing and presenting other information included in CSB's Performance and Accountability Report and ensuring the consistency of that information with the audited financial statements and the RSI; and (4) designing, implementing, and maintaining effective internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Opinion 1 ------- Independent Auditors' Report Auditor's Responsibilities for the Audit of the Financial Statements Our obj ectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS, generally accepted government auditing standards (GAGAS), and OMB Bulletin No. 22-01 will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements, including omissions, are considered to be material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, GAGAS, and OMB Bulletin No. 22-01, our responsibilities are to exercise professional judgment and maintain professional skepticism throughout the audit, identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures that are responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements in order to obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. In addition, in making those risk assessments, we obtain an understanding of internal control relevant to an audit 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 CSB'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 evaluating the overall presentation of the financial statements, and performing other procedures we consider necessary in the circumstances. We are required to communicate with those charged with governance regarding, among other matters, the planned scope of and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the financial statement audit. Required Supplementary Information (RSI) U.S. generally accepted accounting principles issued by the Federal Accounting Standards Advisory Board (FASAB) require that the information in the RSI be presented to supplement the financial statements. Such information is the responsibility of management and, although not a part of the financial statements, is required by FASAB, which considers it to be an essential part of financial reporting for placing the financial statements in appropriate operational, economic, or historical context. We have applied certain limited procedures to the RSI in accordance with U.S. generally accepted government auditing standards, which consisted of inquiries of management *> ------- Independent Auditors' Report about the methods of preparing the RSI and comparing the information for consistency with management's responses to our inquiries, the financial statements, and other knowledge we obtained during the audit of the CSB's financial statements, in order to report omissions or material departures from FASAB guidelines, if any, identified by these limited procedures. We did not audit and we do not express an opinion or provide any assurance on the RSI because the limited procedures we applied do not provide sufficient evidence to express an opinion or provide any assurance. Other Information CSB's other information contains a wide range of information, some of which is not directly related to the financial statements. This information is presented for purposes of additional analysis and is not a required part of the financial statements or the RSI. Management is responsible for the other information included in CSB's Performance Accountability Report. The other information comprises the Management Discussion and Analysis (MD&A) and Performance sections but does not include the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exist between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Report on Internal Control over Financial Reporting In connection with our audits of CSB's financial statements as of and for the year ended September 30, 2022, we considered CSB's internal control over financial reporting, consistent with the auditor's responsibilities discussed below. Results of Our Consideration ofInternal Control over Financial Reporting Our consideration of internal control was for the limited purpose described below, and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies1 or to express 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. Given these limitations, during our audit, we did not 1 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, misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, 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 over financial reporting that is less severe than a material weakness, yet important enough to merit the attention by those charged with governance. 3 ------- Independent Auditors' Report identify any deficiencies in internal control that we consider to be material weaknesses; however, material weaknesses or significant deficiencies may exist that have not been identified. Basis for Results of Our Consideration of Internal Control over Financial Reporting We performed our procedures related to CSB's internal control over financial reporting in accordance with U.S. generally accepted government auditing standards. Responsibilities of Management for Internal Control over Financial Reporting CSB management is responsible for designing, implementing, and maintaining effective internal control over financial reporting relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for Internal Control over Financial Reporting In planning and performing our audit of CSB's financial statements as of and for the fiscal year ended September 30, 2022, in accordance with U.S. generally accepted government auditing standards, we considered CSB's internal control relevant to the financial statement audit 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 CSB's internal control over financial reporting. Accordingly, we do not express an opinion on CSB's internal control over financial reporting. We are required to report all deficiencies I hat are considered to be significant deficiencies or material weaknesses. We did not consider all internal controls relevant to operating objectives, such as those controls relevant to preparing performance information and ensuring efficient operations. Definition and Inherent Limitations of Internal Control over Financial Reporting An entity's internal control over financial reporting is a process effected by those charged with governance, management, and other personnel, the objectives of which are to provide reasonable assurance that (1) transactions are properly recorded, processed, and summarized to permit the preparation of financial statements in accordance with U.S. generally accepted accounting principles, and assets are safeguarded against loss from unauthorized acquisition, use, or disposition, and (2) transactions are executed in accordance with provisions of applicable laws, including those governing the use of budget authority, regulations, contracts, and grant agreements, noncompliance with which could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent, or detect and correct, misstatements due to fraud or error. Intended Purpose of Report on Internal Control over Financial Reporting The purpose of this report is solely to describe the scope of our consideration of CSB's internal control over financial reporting and the results of our procedures, and not to provide an opinion on the effectiveness of CSB's internal control over financial reporting. This report is an integral part of an audit performed in accordance with U.S. generally accepted government auditing standards 4 ------- Independent Auditors' Report in considering internal control over financial reporting. Accordingly, this report on internal control over financial reporting is not suitable for any other purpose. Report on Compliance with Laws, Regulations, Contracts, and Grant Agreements In connection with our audits of CSB's financial statements, we tested compliance with selected provisions of applicable laws, regulations, contracts, and grant agreements consistent with our auditor's responsibilities discussed below. Results of Our Tests for Compliance with Laws. Regulations. Contracts, and Grant Agreements Our tests for compliance with selected provisions of applicable laws, regulations, contracts, and grant agreements disclosed one instance of noncompliance for fiscal year 2022 that would be reportable under U.S. generally accepted government auditing standards. This matter is further discussed in Exhibit I, Findings and Recommendations of this report. However, the objective of our tests was not to provide an opinion on compliance with laws, regulations, contracts, and grant agreements applicable to CSB. Accordingly, we do not express such an opinion. Basis for Results of Our Tests for Compliance with Laws, Regulations. Contracts, and Grant Agreements We performed our tests of compliance in accordance with U.S. generally accepted government auditing standards. Our responsibilities under those standards are further described in the Auditor's Responsibilities for Tests of Compliance section below. Responsibilities of Management for Compliance with Laws. Regulations. Contracts, and Grant Agreements CSB management is responsible for complying with laws, regulations, contracts, and grant agreements applicable to CSB. Auditor's Responsibilities for Tests of Compliance with Laws. Regulations. Contracts, and Grant Agreements Our responsibility is to test compliance with selected provisions of applicable laws, regulations, contracts, and grant agreements applicable to CSB that have a direct effect on the determination of material amounts and disclosures in CSB's financial statements, and to perform certain other limited procedures. Accordingly, we did not test compliance with all laws, regulations, contracts, and grant agreements applicable to CSB. We caution that noncompliance may occur and not be detected by these tests. 5 ------- Independent Auditors' Report Intended Purpose of Report on Compliance with Laws, Regulations, Contracts, and Grant Agreements The purpose of this report is solely to describe the scope of our testing of compliance with selected provisions of applicable laws, regulations, contracts, and grant agreements, and the results of that testing, and not to provide an opinion on compliance. This report is an integral part of an audit performed in accordance with U.S. generally accepted government auditing standards in considering compliance. Accordingly, this report on compliance with laws, regulations, contracts, and grant agreements is not suitable for any other purpose. The CSB's Responses to Findings The CSB's responses to the findings identified during our audit are described immediately following Exhibit I. 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 diem. Lanham, MD November 11, 2022 6 ------- Independent Auditors' Report Exhibit I Noncompliance with Laws & Regulations Findings and Recommendations CONDITION During fiscal year (FY) 2022 the Chemical Safety and Hazard Investigation Board (CSB) reported a violation of the Anti-Deficiency Act (ADA) that occurred during the fiscal year FY 2020, as follows: A task order was issued on September 17, 2020 to provide office furniture for the office of the Chairman. The total cost for the furniture was $9,690.38, 4,690.38 above the $5,000 allowable limit established by the Appropriations Act of 1992. CRITERIA Title 31 U.S. Code (U.S.C.) Section 1517 Prohibited Obligations and Expenditures states: (a) An officer or employee of the United States Government or of the District of Columbia government may not make or authorize an expenditure or obligation exceeding - (1) An apportionment; or (2) The amount permitted by regulations prescribed under section 1514(a) of this title. The Treasury, Postal Service, and General Government Appropriations Act, 1992 P.L. 102-141 Section 618, states "During the period in which the head of any department or agency, or any other officer or civilian employee of the Government appointed by the President of the United States, holds office, no funds may be obligated or expended in excess of $5,000 to furnish or redecorate the office of such department head, agency head, officer or employee or to purchase furniture or make improvements for any such office, unless advance notice of such furnishing or redecoration is expressly approved by the Committees on Appropriations of the House and Senate". CAUSE CSB staff, including legal, contracting and finance staff were unaware of the limits of expenditures on office furniture and related improvements for political appointees. Also, there were no CSB policies or guidance that documented the limits, available for review. EFFECT CSB's failure to comply with the limitations prescribed in the Appropriations Act caused a violation to the Anti Deficiency Act. RECOMMENDATION We recommend that CSB management : • Update CSB policies and guidance to include the limits on expenditures for office furniture related improvements for political appointees. • Provide training to CSB staff and Board members on the limits of expenditures on office 1 urn it ure and related improvements for political appointees. 7 ------- Independent Auditors' Report Exhibit I Noncompliance with Laws & Regulations Findings and Recommendations MANAGEMENT RESPONSE The CSB's management responses to the finding identified during our audit are described immediately following this report. AUDITORS' RESPONSE We will conduct follow-up procedures in FY 2023 to determine whether corrective actions have been developed and implemented. 8 ------- U.S. Chemical Safety and Hazard Investigation Board 1750 Pennsylvania Avenue NW, Suite 910 | Washington, DC 20006 Phone: (202) 261-7600 | Fax: (202) 261-7650 www.csb.gov Steve Owens Interim Executive Authority Sylvia E. Johnson, Ph.D. Board Member To: Damon Jackson, Director - Financial Directorate, Office of Audit, Office of Inspector General From: Steve Owens, Interim Executive Authority Cc: Sylvia E. Johnson, Ph. D. - Board Member Michele Lawson - Director of Financial Operations Subject: Management Response to the Office of Inspector General (OIG) Fiscal Year2022's Draft Audit Report Date: November 11, 2022 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. During this audit, the current CSB leadership discovered and disclosed to the auditor an Anti- Deficiency Action (ADA) violation pertaining to political appointee office furnishings limitations that occurred under the former CSB Chairperson during FY 2020, and the CSB has received a Notice of Findings and Recommendations (NFR) resulting from this violation. Since the violation occurred, the CSB has created internal policies to provide guidance to CSB political appointees and staff to ensure that this occurrence does not happen again, and the agency will conduct 1 ------- relevant training on the limits of expenditures on office furniture and related improvements for political appointees. Nonetheless, the CSB's fiscal year 2022 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 follows the provisions of the FMFIA. We appreciate the opportunity to respond to the OIG draft report. Please contact Michele Lawson in the Office of Financial Operations at (202) 713-6849 if you have further questions. 2 ------- U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2022 AND 2021 ------- CI U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2022 AND 2021 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 ------- U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD BALANCE SHEET AS OF SEPTEMBER 30, 2022 AND 2021 (In Dollars) 2022 2021 1 Assets: Intragovenrmental: Fund Balance with Treasury (Note 2) $ 10,411,024 $ 8,891,840 Total Inlragovernmental 10,411,024 8,891,840 Other than Intragovernmental: Accounts Receivable, Net (Notes 3) 33,381 33,294 General Property, Plant, and Equipment, Net (Note 4) 45,379 168,190 Total Other than Intragovernmental 78,760 201,484 Total Assets $ 10,489,784 $ 9,093,324 Liabilities: (Note 6) Intragovernmental: Accounts Payable 27,983 24,649 Other Liabilities (Note 6) 33,123 78,329 Total Intragovernmental 61,106 102,978 Other than Intragovernmental: Accounts Payable 320,238 413,472 Federal Employee [and Veteran] Benefits Payable 517,421 419,865 Other Liabilities (Notes 6) 124,520 396,058 Total Other than Intragovernmental 962,179 1,229,395 Total Liabilities $ 1,023,285 $ 1,332,373 Net Position: Unexpended Appropriations - Funds from Other than Dedicated Collections 9,901,480 7,970,381 Total Unexpended Appropriations (Consolidated) 9,901,480 7,970,381 Cumulative Results of Operations - Funds from Other than Dedicated Collections (434,981) (209,430) Total Net Position 9,466,499 7,760,951 Total Liabilities and Net Position $ 10,489,784 $ 9,093,324 The accompanying notes are an integral part of these financial statements. 1. ------- U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD STATEMENT OF NET COST FOR THE YEARS ENDED SEPTEMBER 30,2022 AND 2021 (In Dollars) 2022 2021 1 Gross Program Costs: Gross Costs $ 11,717,720 5 > 10,225,911 Less: Earned Revenue - (150) Net Cost of Operations $ 11,717,720 5 > 10,225,761 The accompanying notes are an integral part of these financial statements. 2. ------- U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD STATEMENT OF CHANGES IN NET POSITION FOR THE YEARS ENDED SEPTEMBER 30, 2022 AND 2021 (In Dollars) 2022 2021 Consolidated Total Consolidated Total Unexpended Appropriations: Beginning Balance $ 7,970,381 $ 6,408,029 Appropriations Received 13,400,000 12,000,000 Other Adjustments (223,882) (399,640) Appropriations Used (11,245,019) (10,038,008) Net Change in Unexpended Appropriations 1,931,099 1,562,352 Total Unexpended Appropriations $ 9,901,480 $ 7,970,381 Cumulative Results of Operations: Beginning Balance $ (209,430) $ (295,113) Appropriations Used 11,245,019 10,038,008 Imputed Financing (Note 9) 247,150 273,586 Other - (150) Net Cost of Operations (11,717,720) (10,225,761) Net Change in Cumulative Results of Operations (225,551) 85.683 Total Cumulative Results of Operations $ (434,981) $ (209.430) Net Position $ 9,466,499 $ 7,760,951 The accompanying notes are an integral part of these financial statements. 3. ------- U.S. CHEMICAL SAFETY & HAZARD INVESTIGATION BOARD STATEMENT OF BUDGETARY RESOURCES FOR THE YEARS ENDED SEPTEMBER 30, 2022 AND 2021 (In Dollars) 2022 2021 1 Budgetary Resources: Unobligated Balance from Prior Year Budget Authority, Net (Note 10) Appropriations $ 6,032,525 3 13,400,000 1 4,930,873 12,000,000 Total Budgetary Resources $ 19,432,525 3 i 16,930,873 Status of Budgetary Resources: New Obligations and Upward Adjustments (total) (Note 11) Unobligated Balance, End of Year: Apportioned, Unexpired Accounts Unapportioned, Unexpired Accounts $ 13,398,974 3 92,984 844,145 1 11,375,092 1,494,381 Unexpired Unobligated Balance, End of Year Expired Unobligated Balance, End of Year 937,129 5,096,422 1,494,381 4,061,400 Unobligated Balance, End of Year (total) 6,033,551 5,555,781 Total Budgetary Resources $ 19,432,525 3 1 16,930,873 Outlays, Net and Disbursements, Net: Outlays, Net (total) 11,656,935 9,971,716 Agency Outlays, Net $ 11,656,935 3 i 9,971,716 The accompanying notes are an integral part of these financial statements. 4. ------- CHEMICAL SAFETY AND HAZARD INVESTIGATION BOARD NOTES TO THE FINANCIAL 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 Budgetaiy 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'S accounting policies which are summarized in this note. These statements, except for 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 the CSB'S use 5 ------- 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 budgetaiy 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 the control and monitoring of federal funds as well as the compliance with legal requirements on the use of those funds. D. Fund Balance with Treasury Fund Balance with Treasury 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 Treasuiy in expenditure, receipt, revolving, and deposit fond 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. When the reporting entity seeks to use FBWT or investments in Government securities to liquidate budgetaiy obligations, Treasuiy will finance the disbursements in the same way it finances all other disbursements, which is to borrow from the public if there is a budget deficit (and to use current receipts if there is a budget surplus). Funds are disbursed for the agency on demand. Foreign currency payments are made either by Treasuiy 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 folly 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 810,000 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: 6 ------- Description Leasehold Improvements Office Furniture Computer Equipment Office Equipment Software Useful Life (years') Lease Term 7 5 3 3 G. Advances and Prepaid Charges Advance payments are generally prohibited by law. Ill ere 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 due to transactions or events that have already occurred. The CSB reports its liabilities under two categories, Intragovemmental and Other than Intergovernmental. Intragovemmental liabilities represent funds owed to another government agency. Liabilities other than intragovemmental 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. Deferred rent is the difference at year-end between the sum of monthly cash disbursements paid to date for rent and the sum of the average monthly rent calculated based on the term of the lease. 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 ofvested leave earned but not taken. Nonvested leave is expensed when used. Any liability for sick leave that is accrued but not taken 7 ------- 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's 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 (1) the net present value of estimated future payments calculated by the DOL and (2) the unreimbursed cost paid by DOL for compensation to recipients under the FECA. K. Retirement Plans The CSB's employees participate in either the CSRS or the FERS. The employees who participate in CSRS are beneficiaries of the CSB's matching contribution, equal to seven percent of pay, distributed to their annuity account in the Civil Sendee 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 statement's 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's employees eligible to participate in the Federal Employees' Health Benefits Plan (FEHBP) and the Federal Employees' Group Life Insurance Program (FEGLIP) may continue to 8 ------- participate in these programs after their retirement. OPM has provided 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. N. Reclassification Certain fiscal year 2021 balances have been reclassified, retitled, or combined with other financial statement line items for consistency with the current year presentation. O. 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. NOTE 2. FUND BALANCE WITH TREASURY Fund Balance with Treasury account balances as of September 30, 2022, and 2021, were as follows: Status ofFund Balance with Treasury: Unobligated Balance Available Unavailable ^bligated^a]anc£NotYetjDBbiffse^__ $ 92,984 5.940,567 4.377.473 1,494,380 4,061,400 3.336.060 Total S 10,411,024 8,891,840 No discrepancies exist between the Fund Balance reflected on the Balance Sheet and the balances in the Treasuiy 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 represents the remaining 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. 9 ------- The obligated balance not yet disbursed includes accounts payable, accrued expenses, and undelivered orders that have reduced unexpended appropriations but have not yet decreased the fund balance on hand (see also Note 12). NOTE 3. ACCOUNTS RECEIVABLE, NET Accounts receivable balances as of September 30, 2022, and 2021, were as follows: 2022 2021 1 Other than Intergovernmental Accounts Receivable $ 33,381 $ 33,294 Total Accounts Receivable $ 33,381 $ 33,294 The accounts receivable is primarily made up of reimbursements due from employees. Historical experience has indicated that most of the receivables are collectible. There are no material uncollectible accounts as of September 30, 2022, and 2021. NOTE 4. GENERAL PROPERTY, PLANT AND EQUIPMENT, NET Schedule of General Property, Plant and Equipment, Net as of September 30, 2022: Accumulated Acquisition Amortization/ Net Book Major Class Cost Depreciation Value Furniture & Equipment S 1,405,249 $ 1,383.215 $ 22,034 Software 76,402 53,057 23.345 Total $ 1,481,651 $ 1,436,272 $ 45,379 Schedule of General Property, Plant and Equipment, Net as of September 30, 2021 Accumulated Acquisition Amortization/ Net Book Major Class Cost Depreciation Value Leasehold Improvements $ 271,851 $ 271,851 $ Furniture & Equipment 1,405,249 1,285.872 119.377 Software 226,797 177,984 48,813 Total $ 1,903,897 $ 1,735.707 $ 168.190 NOTE 5. LIABILITIES NOT COVERED BY BUDGETARY RESOURCES The liabilities for CSB as of September 30, 2022, and 2021, 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. 10 ------- 2022 2021 1 Intragovernmental - FEC A Unfunded Leave $ 1,020 509,560 $ 1,020 407,694 Total Liabilities Not Covered by Budgetaiy Resources Total Liabilities Covered by Budgetaiy Resources Total Liabilities Not Requiring Budgetary Resources $ 510,580 509,544 3,161 $ 408,714 921,459 2,200 Total Liabilities $~ 1,023,285 $ 1,332,373 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. The CSB also records an actuarial liability for future workers compensation claims based on the liability to benefits paid (LBP) ratio provided by DOL and multiplied by the average of benefits paid over three years. 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 budgetaiy resources. Sick and other leave is expensed as taken. NOTE 6. OTHER LIABILITIES Other liabilities account balances as of September 30, 2022, were as follows: Current Non Current Total 1 Intrago ve mmental Employer Contributions and Payroll Taxes Payable (without reciprocals) $ 9,467 $ $ 9,467 Custodial Liability (to the General Fund) 3,011 - 3,011 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 $ 19,475 $ $ 19,475 Unfunded FECA Liability 1,020 - 1,020 Total Intragovernmental Other Liabilities ~ 33,123 $ $ 33,123 Other than Intragovernmental Accrued Funded Payroll and Leave $ 124,520 $ $ 124,520 Total Other than Intragovernmental Other Liabilities $ 124,520 $ $ 124,520 Total Other Liabilities $ 157,643 $ $_ 157,643 11 ------- Other liabilities account balances as of September 30, 2021, were as follows: Prior Year: Current Non Current Total 1 Intragovemmental Employer Contributions and Payroll Taxes Payable (without reciprocals) S 24,018 $ $ 24,018 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 $ 51,091 $ $ 51,091 Unfunded FECA Liability 1,020 1,020 Total Intragovemmental Other Liabilities T" 76,279 $ $ 76,279 Other than Intragovemmental Accrued Funded Payroll and Leave $ 396,058 $ $ 396,058 Custodial L iability 2,050 - 2,050 Total Other than Intragovemmental Other Liabilities T" 398,108 $ $ 398,108 Total Other Liabilities $ 474,387 $ $ 474,387 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. TheCSB 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 for real estate taxes, operating expenses, and a 24-hour IIYAC requirement. Finally, the amendment changed agreed upon rent abatements delineated 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. Asset Category Fiscal Year Building 2023 S 700,631 2024 785,485 2025 620,849 Total Future Lease Payments S 2,106,965 NOTE 8. COMMITMENTS AND CONTINGENCIES As of September 30, 2022, the CSB has pending FOIA litigation with PEER. The chance of an unfavorable outcome of the current FOIA litigation with PEER is less than probable, but more than remote. NOTE 9. 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. 12 ------- 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, 2022, and 2021, respectively, inter-entity costs were as follows: 2022 2021 1 Office of Personnel Management S 247,150 S 273,586 Total Imputed Financing Sources S 247,150 S 273,586 NOTE 10. 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, 2022, and 2021, consisted of the following: 2022 2021 I Unobligated Balance Brought Forward From Prior Year, October 1 : $ 5,555,781 $ 4,981,421 Recoveries of Prior Year Obligations 700,626 349,092 Other Changes in Unobligated Balances (223,882) (399,640) Unobligated Balance From Prior Year Budget Authority, Net (Discretionary and Mandatory) $ 6,032,525 $ 4.930,873 NOTE 11. APPORTIONMENT CATEGORIES OF NEW OBLIGATIONS AND UPWARD ADJUSTMENTS New obligations and upward adjustments incurred and reported in the Statement of Budgetary Resources in 2022 and 2021 consisted of the following: 2022 2021 1 Direct Obligations, Category B 13,398,974 11,375,092 Total New Obligations and Upward Adjustments $ 13,398,974 $ 11,375,092 NOTE 12. UNDELIVERED ORDERS AT THE END OF THE PERIOD As of September 30, 2022, budgetary resources obligated for undelivered orders were as follows: | Federal Non-Federal Total Unpaid Undelivered Orders $ 39,051 $ 3,828,879 $ 3,867,930 Total Undelivered Orders $ 39,051 $ 3,828,879 $ 3,867,930 As of September 30, 2021, budgetary resources obligated for undelivered orders were as follows: 1 Federal Non-Federal Total Unpaid Undelivered Orders $ 39,156 $ 2,375,444 $ 2,414.600 Total Undelivered Orders $ 39,156 $ 2375,444 $ 2-414.600 13 ------- NOTE 13. EXPLANATION OF DIFFERENCES BETWEEN THE SBR AND THE BUDGET OF THE U.S. GOVERNMENT The President's Budget that will include fiscal year 2022 actual budgetary execution information has not yet been published. The President's Budget is scheduled for publication in Februaiy 2023 and can be found at the OMB Web site: httv://wmv.whitehcMse.eov/omb/. The 2023 Budget of the United States Government, with the "Actual" column completed for 2021, 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 $ 17 $ 11 $ $ 10 Unobligated Balance Not Available J4) - Budget of the U.S. Government $ 13 $ 11 $ $ 10 NOTE 14. 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, 2022: RECONCILIATION OF NIT COST TO NTT OUTLAYS BUDGET AND ACCRUAL RECONCILIATION FOR THE YEARS ENDED SEPTEMBER 30,1022 (In Dollars) Other than Net Operating Cost (SNC) S 3,315,337 S 8,402.363 S 11,717,720 Components of Net Cost Not Part of the Budgetary Outlays Property, Plant, and Equipment Depreciation Expense Accounts Receivable. Net Accounts Payable Federal Employee [and Veteran] Benefits Payable Other Liabilities (3,334) 45,206 (122,810) 87 93,234 (97,556) 271,53S (122,810) 87 89,900 (97,556) 316,744 Financing Sources: Imputed Cost (247,150) (247.150) Total Components of Net Operating Cost Not Part of the Budgetary Outlays s (205.278) ~T 144.493 ~T (60,785) Components of the Budget Outlays That Are Not Part of Net Operating Cost Total Components of the Budget Outlays That Are Not Part of Net Operating Cost s . s . s \lisc Items Custodial Non-Exchange Revenue 2.432 (2.432) Total Other Reconciling Items s 2.432 ~T (2.432) ~T Total Net Out lavs (Calculated Total1) s 3.112.511 s 8.544.424 s 11.656,935 Budgetarv Agency Outlavs, Net (SBR 4210) Budeetarv Aeencv Outlavs. Net s 11.656.935 14 ------- Reconciliation of Net Cost to Net Outlays as of September 30,2021: RECONCILIATION OF NIT COST TO NIT OUTLAYS BUDGET AND ACCRUAL RICONCDJATION FOR THI YEARS ENDID SIPTEMBER 30,2021 (In Dollars) Other than IntragoTernmental Intra gore ram en Total Net Operating Cost (SNC) 2.531,351 n 7.694.410 S 10,225,761 Components of Net Coat Not Part of the Budgetary Outlays Property. Plant, and Equipment Depreciation Expense Accounts Receivable;. Net Other Assets (2.S56) (153,196) 33,294 (153,196) 33,294 (2,856) (Increase).'Decrease in Liabilities: Accounts Payable Federal Employee [and Veteran] Benefits Payable Other Liabilities 2,449 1,455 88.278 135,172 (151,158) 90,727 135,172 (149,703) Financing Sources; Imputed Cost (273.586) (273.586) Total Components of Net Operating Cost Not Part of the Budgetary Outlays s (272,538) s (47.610) ~~s~ (320.148) Components of the Budget Outlays That Are Not Part of Net Operating Cost Acquisition of Capital Assets 66.103 66.103 Tot al Components of the Budget Outlays That Are Not Part of Net Operating Cost s s 66.103 ~T 66.103 Misc Items CustodialNon-ExchanEe Revenue 2,050 (2,050) Total Other Reconcilins Items s 2.050 s (2.050) ~T~ - Total Net Outlays (Calculated Total) s 2.260.863 _s 7.710.853 s 9.971.716 Budgetary Agency Outlays. Net (SBR 4210) Budeetarv Agency Outlays, Net s 9.971.716 15 ------- |