2007 Budget of the United States Government - Small Business Administration

SMALL BUSINESS ADMINISTRATION For 2007, the Budget requests $624 million in new budget authority for the Small Business Administration (SBA). SBA’s continuing operations will provide more than $28 billion in new loans to small businesses, funding for non-credit programs, and funding for the disaster loan program. f 24.40 Unobligated balance carried forward, end of year 349 84 78 New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 362 40.33 Appropriation permanently reduced (P.L. 109–148) ................... 40.35 Appropriation permanently reduced .......................... ¥5 40.36 Unobligated balance permanently reduced .............. ................... 43.00 68.00 68.00 68.90 70.00 Appropriation (total discretionary) ........................ 357 Spending authority from offsetting collections: Offsetting collections (cash) ................................ 677 Offsetting collections (cash) ................................ ................... Spending authority from offsetting collections (total discretionary) .......................................... Total new budget authority (gross) .......................... Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Adjustments in expired accounts (net) ......................... Recoveries of prior year obligations .............................. Obligated balance, end of year ................................ Outlays (gross), detail: Outlays from new discretionary authority ..................... Outlays from discretionary balances ............................. Total outlays (gross) ................................................. 677 1,034 404 297 ¥4 ................... ¥1 ................... ¥3 ¥6 396 139 186 325 721 291 151 114 265 556 Federal Funds General and special funds: SALARIES AND EXPENSES For necessary expenses, not otherwise provided for, of the Small Business Administration as authorized by Public Law ø108–447¿ 109–108, including hire of passenger motor vehicles as authorized by 31 U.S.C. 1343 and 1344, and not to exceed $3,500 for official reception and representation expenses, ø$313,029,000¿ $303,550,000: Provided, That the Administrator is authorized to charge fees to cover the cost of publications developed by the Small Business Administration, and certain loan øservicing¿ program activities, including fees authorized by section 5(b) of the Small Business Act: Provided further, That, notwithstanding 31 U.S.C. 3302, revenues received from all such activities shall be credited to this account, to øbe¿ remain available until expended, for carrying out these purposes without further appropriations: Provided further, That the sum herein appropriated from the general fund shall be reduced up to the amount of $7,000,000, as the fees assessed and collected under the authority of section 5(b)(12)(E) of the Small Business Act are received, and any fees received in excess of $7,000,000 shall be available until expended: Provided further, That ø$89,000,000¿ $87,120,000 shall be available to fund grants for performance in fiscal year ø2006¿ 2007 or fiscal year ø2007¿ 2008 as authorized: Provided further, That the Small Business Administration is authorized to award grants under the Women’s Business Center Sustainability Pilot Program established by section 4(a) of Public Law 106–165 (15 U.S.C. 656(l): øProvided further, That, of the amounts provided for Women’s Business Centers, not less than 41 percent shall be available to continue Women’s Business Centers in sustainability status¿. (RESCISSION) 72.40 73.10 73.20 73.40 73.45 74.40 287 303 214 726 986 562 ¥685 ¥1,075 ¥602 ¥23 ................... ................... ¥2 ................... ................... 303 214 174 86.90 86.93 87.00 520 165 685 543 532 1,075 428 174 602 Offsets: Against gross budget authority and outlays: Offsetting collections (cash) from: 88.00 Payments from business loan program account ¥125 ¥124 88.00 Payments from disaster loan program account ¥539 ¥186 88.00 Federal sources ..................................................... ¥10 ¥12 88.00 Business Loan Fees .............................................. ................... ................... 88.40 Non-Federal sources ............................................. ¥3 ¥3 88.90 Total, offsetting collections (cash) ....................... Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... ¥677 ¥325 ¥126 ¥114 ¥11 ¥7 ¥7 ¥265 Of the unobligated balances available under this heading, ø$3,000,000¿ $6,100,000 are rescinded. (Science, State, Justice, Commerce, and Related Agencies Appropriations Act, 2006.) Program and Financing (in millions of dollars) Identification code 73–0100–0–1–376 2005 actual 2006 est. 2007 est. 89.00 90.00 357 8 396 750 291 337 00.01 00.02 00.03 00.04 00.05 00.06 00.07 00.08 00.09 00.10 00.12 09.00 cprice-sewell on PROD1PC66 with BUDGET PAG Obligations by program activity: Executive Direction ......................................................... Capital Access ............................................................... Gov. Contracting/ Bus. Development ............................. Entrepreneurial Development ......................................... Management & Adminstration ....................................... Office of Chief Information Officer ................................ Regional & District Offices ............................................ Agency Wide Costs ......................................................... Non Credit Programs ..................................................... Congressional Initiatives ............................................... Disaster .......................................................................... Reimbursable program .................................................. Total new obligations ................................................ 42 41 19 6 15 25 124 48 135 39 223 9 726 42 42 41 44 19 21 6 8 15 18 26 32 124 127 47 48 127 106 90 ................... 437 105 12 11 986 562 The appropriation for this account is necessary to cover the administrative expenses for SBA headquarters and the field and for non-credit programs. Appropriations for the administration of the Disaster direct loan and business loan programs are merged with this account. In addition, this account funds technical assistance grant programs. Object Classification (in millions of dollars) Identification code 73–0100–0–1–376 2005 actual 2006 est. 2007 est. 11.1 11.3 11.5 11.9 12.1 21.0 23.1 23.3 24.0 25.2 25.3 Direct obligations: Personnel compensation: Full-time permanent ............................................. Other than full-time permanent ........................... Other personnel compensation ............................. Total personnel compensation .............................. Civilian personnel benefits ....................................... Travel and transportation of persons ....................... Rental payments to GSA ........................................... Communications, utilities, and miscellaneous charges ................................................................. Printing and reproduction ......................................... Other services ............................................................ Other purchases of goods and services from Government accounts (Disaster Administrative Expenses) .................................................................. E:\BUDGET\SBA.XXX SBA 166 11 3 180 54 4 32 5 1 39 161 10 3 174 47 5 35 6 1 44 170 10 3 183 47 5 35 7 1 51 10.00 Budgetary resources available for obligation: 21.40 Unobligated balance carried forward, start of year 22.00 New budget authority (gross) ........................................ 22.10 Resources available from recoveries of prior year obligations ....................................................................... 23.90 23.95 23.98 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance expiring or withdrawn ................. 12:38 Jan 26, 2006 Jkt 206762 40 1,034 349 721 84 556 2 ................... ................... 1,076 1,070 640 ¥726 ¥986 ¥562 ¥1 ................... ................... PO 00000 Frm 00001 Fmt 3616 223 437 105 VerDate Aug 31 2005 Sfmt 3643 1091 1092 Federal Funds—Continued THE BUDGET FOR FISCAL YEAR 2007 Outlays (gross), detail: Outlays from new discretionary authority ..................... Outlays from discretionary balances ............................. Total outlays (gross) ................................................. General and special funds—Continued SALARIES AND EXPENSES—Continued 86.90 86.93 87.00 13 1 14 16 1 17 14 2 16 (RESCISSION)—Continued Object Classification (in millions of dollars)—Continued Identification code 73–0100–0–1–376 2005 actual 2006 est. 2007 est. 26.0 31.0 41.0 99.0 99.0 99.9 Supplies and materials ............................................. Equipment ................................................................. Grants, subsidies, and contributions ........................ Direct obligations .................................................. Reimbursable obligations .............................................. Total new obligations ................................................ 2 3 174 717 9 726 3 5 217 974 12 986 4 7 106 551 11 562 Offsets: Against gross budget authority and outlays: 88.00 Offsetting collections (cash) from: Payments from disaster loan program account ............................ Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... ¥1 ¥2 ¥1 89.00 90.00 13 13 19 15 14 15 Personnel Summary Identification code 73–0100–0–1–376 2005 actual 2006 est. 2007 est. Direct: Civilian full-time equivalent employment ..................... Reimbursable: 2001 Civilian full-time equivalent employment ..................... 1001 f 4,030 11 5,122 11 2,860 8 The Budget proposes $14.3 million in new budget authority and $0.5 million transferred from the Disaster Loans Program account for a total of $14.9 million for the Office of Inspector General (OIG) for 2007. This appropriation provides funds for agency-wide audit, investigative, and related functions to promote economy and efficiency in agency operations and to prevent and detect waste, fraud, and abuse. Object Classification (in millions of dollars) Identification code 73–0200–0–1–376 2005 actual 2006 est. 2007 est. OFFICE OF INSPECTOR GENERAL For necessary expenses of the Office of Inspector General in carrying out the provisions of the Inspector General Act of 1978, ø$13,900,000¿ $14,355,000. (Science, State, Justice, Commerce, and Related Agencies Appropriations Act, 2006.) øFor an additional amount for the ‘‘Office of Inspector General’’ for necessary expenses related to the consequences of hurricanes in the Gulf of Mexico in calendar year 2005, $5,000,000, to remain available until expended: Provided, That the amount provided under this heading is designated as an emergency requirement pursuant to section 402 of H. Con. Res. 95 (109th Congress), the concurrent resolution on the budget for fiscal year 2006.¿ (Emergency Supplemental Appropriations Act to Address Hurricanes in the Gulf of Mexico and Pandemic Influenza, 2006.) Program and Financing (in millions of dollars) Identification code 73–0200–0–1–376 2005 actual 2006 est. 2007 est. 11.1 11.5 11.9 12.1 25.2 99.0 99.0 99.9 Direct obligations: Personnel compensation: Full-time permanent ............................................. Other personnel compensation ............................. Total personnel compensation .............................. Civilian personnel benefits ....................................... Other services ............................................................ Direct obligations .................................................. Reimbursable obligations .............................................. Total new obligations ................................................ 8 1 9 2 1 12 1 13 9 1 10 2 4 16 1 17 9 1 10 2 2 14 1 15 Personnel Summary Identification code 73–0200–0–1–376 2005 actual 2006 est. 2007 est. Direct: 1001 Civilian full-time equivalent employment ..................... f 95 107 107 Obligations by program activity: 00.01 Audit ............................................................................... 00.02 Investigations ................................................................. 00.03 Management Policy ........................................................ 00.04 General Office/Legal Counsel ........................................ 10.00 Total new obligations ................................................ 5 6 1 1 13 7 8 1 1 17 6 7 1 1 15 Public enterprise funds: SURETY BOND GUARANTEES REVOLVING FUND For additional capital for the Surety Bond Guarantees Revolving Fund, authorized by the Small Business Investment Act of 1958, as amended, ø$2,861,000¿ $2,970,000, to remain available until expended. (Science, State, Justice, Commerce, and Related Agencies Appropriations Act, 2006.) Program and Financing (in millions of dollars) Identification code 73–4156–0–3–376 2005 actual 2006 est. 2007 est. 21.40 22.00 23.90 23.95 24.40 Budgetary resources available for obligation: Unobligated balance carried forward, start of year ................... ................... New budget authority (gross) ........................................ 14 21 Total budgetary resources available for obligation Total new obligations .................................................... 14 ¥13 21 ¥17 4 4 15 19 ¥15 4 Unobligated balance carried forward, end of year ................... 09.01 10.00 Obligations by program activity: Reimbursable obligations .............................................. Total new obligations (object class 42.0) ................ Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year 8 8 10 10 10 10 New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 13 40.30 Appropriations adjusted pursuant to PL 109–148 (+) ......................................................................... ................... cprice-sewell on PROD1PC66 with BUDGET PAG 14 14 21.40 22.00 23.90 23.95 24.40 5 ................... 19 2 21 14 1 22 9 31 ¥8 23 23 8 31 ¥10 21 21 9 30 ¥10 20 43.00 68.00 70.00 Appropriation (total discretionary) ........................ Spending authority from offsetting collections: Offsetting collections (cash) ..................................... Total new budget authority (gross) .......................... 13 1 14 15 New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 68.00 Spending authority from offsetting collections: Offsetting collections (cash) ..................................... 70.00 Sfmt 3643 Change in obligated balances: 72.40 Obligated balance, start of year ................................... 73.10 Total new obligations .................................................... 73.20 Total outlays (gross) ...................................................... 74.40 Obligated balance, end of year ................................ 12:38 Jan 26, 2006 Jkt 206762 2 13 ¥14 2 PO 00000 2 17 ¥17 2 Frm 00002 2 15 ¥16 1 Fmt 3616 3 6 9 3 5 8 3 6 9 Total new budget authority (gross) .......................... E:\BUDGET\SBA.XXX SBA VerDate Aug 31 2005 SMALL BUSINESS ADMINISTRATION Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Obligated balance, end of year ................................ Outlays (gross), detail: Outlays from new discretionary authority ..................... Outlays from discretionary balances ............................. Total outlays (gross) ................................................. Federal Funds—Continued 1093 72.40 73.10 73.20 74.40 1 8 ¥7 2 2 10 ¥9 3 3 10 ¥10 3 In addition, for administrative expenses to carry out the direct and guaranteed loan programs, ø$125,307,000¿ $126,136,000, which may be transferred to and merged with the appropriations for Salaries and Expensesø: Provided, That, of the funds previously made available under Public Law 105–135, section 507(g), for the Delta Loan program, up to $500,000 may be transferred to and merged with the appropriation for Salaries and Expenses¿. (RESCISSION) 86.90 86.93 87.00 6 1 7 8 1 9 9 1 10 Of the unobligated balances available under this heading, ø$4,000,000¿ $5,000,000 are rescinded. (Science, State, Justice, Commerce, and Related Agencies Appropriations Act, 2006.) Program and Financing (in millions of dollars) Offsets: Against gross budget authority and outlays: 88.40 Offsetting collections (cash) from: Non-Federal sources .................................................................. Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... ¥6 ¥5 ¥6 Identification code 73–1154–0–1–376 2005 actual 2006 est. 2007 est. 89.00 90.00 3 1 3 4 3 4 SBA is authorized to issue bond guarantees to surety companies for construction, service, and supply contracts that do not exceed $2,000,000 and to reimburse these sureties up to 90 percent of the losses sustained if the contractor defaults. SBA’s guarantees provide the incentive necessary for sureties to issue bonds to small contractors who could not otherwise secure them and compete in the contracting industry. In 2007, the Budget proposes a $1.7 billion program level that is anticipated to be sufficient to accommodate demand from prior-approval and preferred sureties. Balance Sheet (in millions of dollars) Identification code 73–4156–0–3–376 2004 actual 2005 actual 00.01 00.02 00.05 00.06 00.07 00.08 00.09 10.00 Obligations by program activity: Direct loan subsidy ........................................................ 2 1 ................... Guaranteed loan subsidy ............................................... 3 ................... ................... Reestimate of direct loan .............................................. ................... 12 ................... Interest on direct loan reestimation .............................. ................... 14 ................... Reestimate of loan guarantee subsidy ......................... 1,357 329 ................... Interest on reestimates of loan guarantee subsidy 549 50 ................... Administrative expenses ................................................ 125 124 126 Total new obligations ................................................ Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Resources available from recoveries of prior year obligations ....................................................................... Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance expiring or withdrawn ................. Unobligated balance carried forward, end of year 2,036 530 126 21.40 22.00 22.10 23.90 23.95 23.98 24.40 101 2,034 13 526 9 121 6 ................... ................... 2,141 539 130 ¥2,036 ¥530 ¥126 ¥92 ................... ................... 13 9 4 ASSETS: Federal assets: 1101 Fund balances with Treasury ......................................... Investments in US securities: 1106 Receivables, net ............................................................... Total assets ...................................................................... LIABILITIES: 2201 Non-Federal liabilities: Accounts payable ...................... 2999 Total liabilities ................................................................. NET POSITION: 3100 Appropriated capital ........................................................ 3300 Cumulative results of operations ................................... 3999 4999 Total net position ............................................................ Total liabilities and net position ................................... f 23 5 28 21 21 1 6 7 28 25 4 29 25 25 1 3 4 29 1999 New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 128 40.33 Appropriation permanently reduced (P.L. 109–148) ................... 40.35 Appropriation permanently reduced .......................... ¥2 40.36 Unobligated balance permanently reduced .............. ................... 43.00 60.00 68.00 70.00 Appropriation (total discretionary) ........................ Mandatory: Appropriation ............................................................. Discretionary: Spending authority from offsetting collections: Offsetting collections (cash) ..................................... Total new budget authority (gross) .......................... Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Adjustments in expired accounts (net) ......................... Recoveries of prior year obligations .............................. Obligated balance, end of year ................................ Outlays (gross), detail: Outlays from new discretionary authority ..................... Outlays from discretionary balances ............................. Outlays from new mandatory authority ......................... Total outlays (gross) ................................................. 126 1,906 127 126 ¥1 ................... ¥1 ................... ¥4 ¥5 121 121 405 ................... 2 ................... ................... 2,034 526 121 Credit accounts: BUSINESS LOANS PROGRAM ACCOUNT (INCLUDING TRANSFERS OF FUNDS) 72.40 73.10 73.20 73.40 73.45 74.40 63 19 18 2,036 530 126 ¥2,071 ¥531 ¥121 ¥3 ................... ................... ¥6 ................... ................... 19 18 23 cprice-sewell on PROD1PC66 with BUDGET PAG øFor the cost of direct loans, $1,300,000, to remain available until expended: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That subject¿ Subject to section 502 of the Congressional Budget Act of 1974, during fiscal year ø2006¿ 2007 commitments to guarantee loans under section 503 of the Small Business Investment Act of 1958, shall not exceed øthe levels established under 20(e)(1)(B)(ii) of the Small Business Act¿ $7,500,000,000: Provided øfurther¿, That during fiscal year ø2006¿ 2007 commitments for general business loans authorized under section 7(a) of the Small Business Act, shall not exceed øthe levels established under 20(e)(1)(B)(i) of the Small Business Act¿ $17,500,000,000: Provided further, That during fiscal year ø2006¿ 2007 commitments to guarantee loans for debentures under section 303(b) of the Small Business Investment Act of 1958, shall not exceed $3,000,000,000: Provided further, That during fiscal year ø2006¿ 2007 guarantees of trust certificates authorized by section 5(g) of the Small Business Act shall not exceed a principal amount of $12,000,000,000. VerDate Aug 31 2005 12:38 Jan 26, 2006 Jkt 206762 PO 00000 Frm 00003 Fmt 3616 86.90 86.93 86.97 87.00 128 37 1,906 2,071 121 121 5 ................... 405 ................... 531 121 Offsets: Against gross budget authority and outlays: 88.40 Offsetting collections (cash) from: Non-Federal sources .................................................................. Against gross budget authority only: 88.96 Portion of offsetting collections (cash) credited to expired accounts ................................................... Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... E:\BUDGET\SBA.XXX SBA ¥3 ................... ................... 1 ................... ................... 89.00 90.00 2,032 2,069 526 531 121 121 Sfmt 3643 1094 Federal Funds—Continued THE BUDGET FOR FISCAL YEAR 2007 Guaranteed loan downward reestimate subsidy budget authority: 237001 Microloan guarantees .................................................... 237002 general business 7(a) .................................................... 237003 General business — 7(a)-terrorist response ................ 237004 Section 504 .................................................................... 237005 Section 504 -DELTA ....................................................... 237006 SBIC debentures ............................................................ 237007 SBIC participating securities ......................................... 237008 New Market Venture Capital .......................................... 237009 General business 7(a)—DELTA ..................................... 237010 Secondary market guarantee ......................................... 237011 General business 7(a) Prior ........................................... 237012 SBIC 301(d) Guarantee .................................................. 237013 502 Local development compnies ................................. 237901 Total downward reestimate subsidy budget authority Administrative expense data: 351001 Budget authority ............................................................ 359001 Outlays from new authority ........................................... Credit accounts—Continued BUSINESS LOANS PROGRAM ACCOUNT—Continued (RESCISSION)—Continued Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars) Identification code 73–1154–0–1–376 2005 actual 2006 est. 2007 est. Direct loan levels supportable by subsidy budget authority: 115001 Micro loans .................................................................... 115901 Total direct loan levels .................................................. Direct loan subsidy (in percent): 132001 Micro loans .................................................................... 132901 Weighted average subsidy rate ..................................... Direct loan subsidy budget authority: 133001 Micro loans .................................................................... 133901 Total subsidy budget authority ...................................... Direct loan subsidy outlays: 134001 Micro loans .................................................................... 18 18 10.25 10.25 2 2 2 20 ................... 20 ................... 7.17 7.17 0.00 0.00 ................... ¥1 ................... ¥135 ¥156 ................... ¥13 ¥7 ................... ¥98 ¥202 ................... ................... ¥18 ................... ¥178 ¥48 ................... ¥46 ¥499 ................... ................... ................... ................... ................... ¥1 ................... ................... ¥4 ................... ................... ................... ................... ................... ¥10 ................... ................... ¥4 ................... ¥470 ¥950 ................... 125 125 127 124 126 120 1 ................... 1 ................... 1 ................... 1 ................... 26 ................... 26 ................... 134901 Total subsidy outlays ..................................................... 2 Direct loan upward reestimate subsidy budget authority: 135001 Msc. loans ...................................................................... ................... 135901 Total upward reestimate budget authority .................... ................... Direct loan downward reestimate subsidy budget authority: 137001 Misc. loans ..................................................................... ................... 137901 Total downward reestimate budget authority ............... ................... Guaranteed loan levels supportable by subsidy budget authority: 215002 General business — 7(a) ............................................. 215004 Section 504 .................................................................... 215006 SBIC debentures ............................................................ 215010 Secondary market guarantee ......................................... 215011 General business 7(a) prior ........................................... 215901 Total loan guarantee levels ........................................... Guaranteed loan subsidy (in percent): 232002 General business — 7(a) ............................................. 232004 Section 504 .................................................................... 232006 SBIC debentures ............................................................ 232010 Secondary marker guarantee ......................................... 232011 General business 7(a) prior ........................................... 232901 Weighted average subsidy rate ..................................... Guaranteed loan subsidy budget authority: 233002 General business— 7(a) ............................................... 233004 Section 504 .................................................................... 233006 SBIC debentures ............................................................ 233010 Secondary market guarantee ......................................... 233011 General business 7(a) prior ........................................... ¥42 ................... ¥42 ................... 14,284 17,000 17,500 5,000 7,500 7,500 355 3,000 3,000 10,000 12,000 12,000 300 ................... ................... 29,939 0.00 0.00 0.00 0.00 0.01 0.00 ................... ................... ................... ................... 3 39,500 0.00 0.00 0.00 0.00 0.00 0.00 ................... ................... ................... ................... ................... 40,000 0.00 0.00 0.00 0.00 0.00 0.00 ................... ................... ................... ................... ................... As required by the Federal Credit Reform Act of 1990, as amended, this account records, for this program, the subsidy costs associated with the direct loans obligated and loan guarantees committed in 1992 and beyond (including modifications of direct loans or loan guarantees that resulted from obligations or commitments in any year), as well as administrative expenses of this program. The subsidy amounts are estimated on a present value basis; the administrative expenses are estimated on a cash basis. For 2007, the Budget proposes $126.1 million in new budget authority for the Business Loans Program account, of which $7 million will be repaid through administrative fee collections on loans over $1 million. No appropriations are required to cover loan subsidy as fees are sufficient to offset losses. The Section 7(a) program provides general business credit assistance. The requested guaranteed loan program level for 2007 is $17.5 billion. The Section 504 Certified Development Company program is for long-term fixed rate financing and the requested guaranteed loan program level is $7.5 billion in 2007. The Small Business Investment Company (SBIC) program provides credit to support venture capital investments. The Budget proposes a program level of $3 billion for SBIC Debentures. As part of the Secondary Market Guarantee (SMG), SBA’s fiscal agent pools the guaranteed portion of 7(a) loans and sells the securities to investors. This mechanism provides liquidity to lenders participating in the 7(a) loan program. For FY 2007, the Budget proposes a program level of $12 billion in such securities. In addition, the Budget proposes fee authority for the program to simplify program management. Object Classification (in millions of dollars) Identification code 73–1154–0–1–376 2005 actual 2006 est. 2007 est. 233901 Total subsidy budget authority ...................................... 3 ................... ................... Guaranteed loan subsidy outlays: 234002 General business — 7(a) ............................................. 32 ................... ................... 234004 Section 504 .................................................................... ................... ................... ................... 234006 SBIC debentures ............................................................ ................... ................... ................... 234010 Secondary market guarantee ......................................... ................... ................... ................... 234011 General budiness 7(a) prior .......................................... 3 ................... ................... 234901 Total subsidy outlays ..................................................... Guaranteed loan upward reestimate subsidy budget authority: 235001 Microloan guarantees .................................................... 235002 General business 7(a) ................................................... 235003 General business — 7(a) terrorist response ................ 235004 Section 504 .................................................................... 235005 Section 504-DELTA ......................................................... 235006 SBIC debentures ............................................................ 235007 SBIC participating securities ......................................... 235008 New Market Venture Capital .......................................... 235009 General business 7(a) -DELTA ....................................... 235010 Secondary market guarantee ......................................... 235011 General business 7(a) prior ........................................... 235012 SBIC 301(d) Guarantee .................................................. 235013 502 Local development companies ............................... 235901 Total upward reestimate budget authority .................... VerDate Aug 31 2005 12:38 Jan 26, 2006 Jkt 206762 25.2 41.0 99.9 Other services ................................................................ Grants, subsidies, and contributions ............................ Total new obligations ................................................ f 125 1,911 2,036 124 126 406 ................... 530 126 35 ................... ................... BUSINESS DIRECT LOAN FINANCING ACCOUNT ................... 556 ................... 221 ................... 117 969 ................... ................... 44 ................... ................... ................... 1,907 PO 00000 cprice-sewell on PROD1PC66 with BUDGET PAG ................... 99 ................... ................... ................... 64 153 1 8 53 ................... 1 ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... Program and Financing (in millions of dollars) Identification code 73–4148–0–3–376 2005 actual 2006 est. 2007 est. 00.01 00.02 00.91 08.02 08.04 08.91 Obligations by program activity: Direct loans .................................................................... Interest on Treasury borrowing ...................................... 18 10 20 ................... 7 ................... 27 ................... 28 ................... 14 ................... 42 ................... Direct obligations—Subtotal .................................... 28 Payment of downward reestimate to a receipt account ................... Payment of interest on downward reestimate to a receipt account .......................................................... ................... Direct obligations—Subtotal .................................... ................... E:\BUDGET\SBA.XXX SBA 379 ................... Frm 00004 Fmt 3616 Sfmt 3643 SMALL BUSINESS ADMINISTRATION 10.00 Total new obligations ................................................ 28 69 ................... Federal Funds—Continued 1095 amounts in this account are a means of financing and are not included in the budget totals. Balance Sheet (in millions of dollars) Identification code 73–4148–0–3–376 2004 actual 2005 actual Budgetary resources available for obligation: Unobligated balance carried forward, start of year New financing authority (gross) .................................... Resources available from recoveries of prior year obligations ....................................................................... 22.60 Portion applied to repay debt ........................................ 21.40 22.00 22.10 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year 73 46 41 ................... 74 12 7 ................... ................... ¥57 ¥46 ¥12 69 ¥28 69 ................... ¥69 ................... 41 ................... ................... New financing authority (gross), detail: Mandatory: 67.10 Authority to borrow .................................................... Spending authority from offsetting collections: Discretionary: 68.00 Offsetting collections (cash) ................................ 68.10 Change in uncollected customer payments from Federal sources (unexpired) ............................. 68.90 70.00 Spending authority from offsetting collections (total discretionary) .......................................... Total new financing authority (gross) ...................... Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total financing disbursements (gross) ......................... Recoveries of prior year obligations .............................. Change in uncollected customer payments from Federal sources (unexpired) ............................................ Obligated balance, end of year ................................ Total financing disbursements (gross) ......................... 19 21 ................... ASSETS: Federal assets: 1101 Fund balances with Treasury ......................................... Investments in US securities: 1106 Receivables, net ............................................................... 1206 Non-Federal assets: Receivables, net ............................ Net value of assets related to post– 1991 direct loans receivable: 1401 Direct loans receivable, gross ........................................ 1405 Allowance for subsidy cost (-) ...................................... 1499 Net present value of assets related to direct loans .. 102 ........................ 2 64 24 1 132 –42 90 194 134 –24 110 199 28 53 12 ¥1 ................... ................... 27 46 53 74 12 12 Total assets ...................................................................... LIABILITIES: Federal liabilities: 2103 Debt ................................................................................... 2105 Other ................................................................................. 2207 Non-Federal liabilities: Other .......................................... 2999 4999 Total liabilities ................................................................. Total liabilities and net position ................................... f 1999 191 ........................ 3 194 194 154 43 2 199 199 72.40 73.10 73.20 73.45 74.00 74.40 87.00 29 23 70 28 69 ................... ¥28 ¥22 ¥10 ¥7 ................... ................... 1 ................... ................... 23 28 70 22 60 10 BUSINESS GUARANTEED LOAN FINANCING ACCOUNT Program and Financing (in millions of dollars) Identification code 73–4149–0–3–376 2005 actual 2006 est. 2007 est. Offsets: Against gross financing authority and financing disbursements: Offsetting collections (cash) from: 88.00 Federal sources: Payments from program account ................................................................. ¥2 ¥2 88.00 Upward reestimate ................................................ ................... ¥12 88.00 Interest on reestimate .......................................... ................... ¥14 88.25 Interest on uninvested funds ............................... ¥5 ¥6 88.40 Repayments of principal, net ............................... ¥21 ¥20 88.40 Other income ......................................................... ................... ................... 88.90 88.95 88.96 00.01 00.02 00.05 00.91 ................... ................... ................... ................... ¥11 ¥1 08.02 08.04 08.91 10.00 Obligations by program activity: Default claims ............................................................... Interest on Treasury borrowing ...................................... Other Expenses .............................................................. Direct obligations—Subtotal .................................... Payment of downward reestimate to receipt account Payment of interest on downward reestimate to receipt account ............................................................. Direct obligations—Subtotal .................................... Total new obligations ................................................ 1,547 127 131 1,805 323 147 470 2,275 1,660 275 120 2,055 1,650 250 15 1,915 719 ................... 231 ................... 950 ................... 3,005 1,915 Total, offsetting collections (cash) ....................... ¥28 ¥54 ¥12 Against gross financing authority only: Change in receivables from program accounts ....... 1 ................... ................... Portion of offsetting collections (cash) credited to expired accounts ................................................... ................... 1 ................... Net financing authority and financing disbursements: Financing authority ........................................................ 19 Financing disbursements ............................................... ................... 89.00 90.00 21 ................... ¥32 ¥2 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New financing authority (gross) .................................... Resources available from recoveries of prior year obligations ....................................................................... 22.60 Portion applied to repay debt ........................................ 21.40 22.00 22.10 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year 3,072 3,713 2,514 2,834 2,343 1,925 10 ................... ................... ¥2,006 ................... ................... 4,789 ¥2,275 2,514 5,348 ¥3,005 2,343 4,268 ¥1,915 2,353 Status of Direct Loans (in millions of dollars) Identification code 73–4148–0–3–376 2005 actual 2006 est. 2007 est. Position with respect to appropriations act limitation on obligations: 1111 Limitation on direct loans ............................................. 1150 Total direct loan obligations ..................................... 18 18 20 ................... 20 ................... cprice-sewell on PROD1PC66 with BUDGET PAG 1210 1231 1251 1263 1290 Cumulative balance of direct loans outstanding: Outstanding, start of year ............................................. 132 Disbursements: Direct loan disbursements ................... 19 Repayments: Repayments and prepayments ................. ¥17 Write-offs for default: Direct loans ............................... ................... Outstanding, end of year .......................................... 134 New financing authority (gross), detail: Mandatory: 67.10 Authority to borrow .................................................... Spending authority from offsetting collections: Discretionary: 68.00 Offsetting collections (cash) ................................ 68.10 Change in uncollected customer payments from Federal sources (unexpired) ............................. 68.90 70.00 Spending authority from offsetting collections (total discretionary) .......................................... Total new financing authority (gross) ...................... Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total financing disbursements (gross) ......................... Recoveries of prior year obligations .............................. Change in uncollected customer payments from Federal sources (unexpired) ............................................ E:\BUDGET\SBA.XXX SBA 470 950 300 3,288 1,884 1,625 ¥45 ................... ................... 3,243 3,713 1,884 2,834 1,625 1,925 134 18 ¥15 ¥3 134 134 5 ¥12 ¥2 125 As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from direct loans obligated in 1992 and beyond (including modifications of direct loans that resulted from obligations in any year). The VerDate Aug 31 2005 12:38 Jan 26, 2006 Jkt 206762 PO 00000 Frm 00005 Fmt 3616 72.40 73.10 73.20 73.45 74.00 ¥39 16 271 2,275 3,005 1,915 ¥2,255 ¥2,750 ¥2,100 ¥10 ................... ................... 45 ................... ................... Sfmt 3643 1096 Federal Funds—Continued THE BUDGET FOR FISCAL YEAR 2007 Investments in US securities: Receivables, net ............................................................... Non-Federal assets: Receivables, net ............................ Net value of assets related to post– 1991 acquired defaulted guaranteed loans receivable: Defaulted guaranteed loans receivable, gross .............. Foreclosed property .......................................................... Allowance for subsidy cost (-) ...................................... Net present value of assets related to defaulted guaranteed loans ......................................................... Credit accounts—Continued BUSINESS GUARANTEED LOAN FINANCING ACCOUNT—Continued Program and Financing (in millions of dollars)—Continued Identification code 73–4149–0–3–376 2005 actual 2006 est. 2007 est. 1106 1206 1,763 53 354 50 74.40 87.00 Obligated balance, end of year ................................ other ............................................................................... 16 2,255 271 2,750 86 2,100 1501 1504 1505 1599 2,769 ........................ –2,459 310 5,158 4,204 15 –3,154 1,065 3,998 Offsets: Against gross financing authority and financing disbursements: Offsetting collections (cash) from: 88.00 Payments from program account ......................... ¥35 ................... ................... 88.00 Upward reestimate ................................................ ¥1,357 ¥329 ................... 88.00 Interest on reestimate .......................................... ¥550 ¥50 ................... 88.00 Other ..................................................................... ................... ................... ................... 88.25 Interest on uninvested funds ............................... ¥170 ¥130 ¥130 88.40 Fees ....................................................................... ¥593 ¥700 ¥725 88.40 Recoveries ............................................................. ¥546 ¥650 ¥750 88.40 other ...................................................................... ¥38 ¥25 ¥20 88.90 88.95 88.96 Total, offsetting collections (cash) ....................... Against gross financing authority only: Change in receivables from program accounts ....... Portion of offsetting collections (cash) credited to expired accounts ................................................... ¥3,289 ¥1,884 ¥1,625 1999 Total assets ...................................................................... LIABILITIES: Federal liabilities: 2103 Debt ................................................................................... 2105 Other ................................................................................. Non-Federal liabilities: 2201 Accounts payable ............................................................. 2204 Liabilities for loan guarantees ....................................... 2207 Other ................................................................................. 2999 4999 Total liabilities ................................................................. Total liabilities and net position ................................... f 2,492 488 23 2,175 –20 5,158 5,158 956 889 31 2,143 –21 3,998 3,998 45 ................... ................... 1 ................... ................... BUSINESS LOAN FUND LIQUIDATING ACCOUNT Net financing authority and financing disbursements: 89.00 Financing authority ........................................................ 90.00 Financing disbursements ............................................... 470 ¥1,033 950 866 300 475 Program and Financing (in millions of dollars) Identification code 73–4154–0–3–376 2005 actual 2006 est. 2007 est. Status of Guaranteed Loans (in millions of dollars) Identification code 73–4149–0–3–376 2005 actual 2006 est. 2007 est. Position with respect to appropriations act limitation on commitments: 2111 Limitation on guaranteed loans made by private lenders .............................................................................. 2150 2199 Total guaranteed loan commitments ........................ Guaranteed amount of guaranteed loan commitments 00.01 00.05 00.09 10.00 Obligations by program activity: Interest Expense to Treasury ......................................... Guaranteed loan default claims .................................... Other expenses ............................................................... Total new obligations ................................................ 6 5 11 22 4 3 7 14 3 2 5 10 29,939 29,939 23,000 39,500 39,500 29,625 40,000 40,000 30,400 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Resources available from recoveries of prior year obligations ....................................................................... 22.40 Capital transfer to general fund ................................... 22.60 Portion applied to repay debt to FFB ............................ 21.40 22.00 22.10 23.90 23.95 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year 93 115 78 ................... 78 56 Cumulative balance of guaranteed loans outstanding: Outstanding, start of year ............................................. Disbursements of new guaranteed loans ...................... Repayments and prepayments ...................................... Adjustments: 2261 Terminations for default that result in loans receivable ....................................................................... 2264 Other adjustments, net ............................................. 2210 2231 2251 2290 Outstanding, end of year .......................................... 56,962 18,551 ¥11,348 72,880 24,490 ¥12,800 82,670 22,940 ¥14,700 2 ................... ................... ¥93 ¥127 ¥34 ¥17 ¥15 ¥12 100 ¥22 14 ¥14 10 ¥10 ¥1,547 ¥1,900 ¥2,100 10,262 ................... ................... 72,880 82,670 88,810 24.40 78 ................... ................... Memorandum: 2299 Guaranteed amount of guaranteed loans outstanding, end of year ................................................................ Addendum: Cumulative balance of defaulted guaranteed loans that result in loans receivable: 2310 Outstanding, start of year ........................................ 2331 Disbursements for guaranteed loan claims ............. 2351 Repayments of loans receivable ............................... 2361 Write-offs of loans receivable ................................... 2364 Other adjustments, net ............................................. 2390 Outstanding, end of year ...................................... 69,726 78,536 84,370 New budget authority (gross), detail: Mandatory: 60.00 Appropriation ............................................................. 69.00 Spending authority from offsetting collections: Offsetting collections (cash) .............................................. 70.00 Total new budget authority (gross) .......................... Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Recoveries of prior year obligations .............................. Obligated balance, end of year ................................ Outlays (gross), detail: Outlays from new mandatory authority ......................... Loan repayments: 50 65 115 30 48 78 20 36 56 2,769 4,204 5,219 1,547 1,900 2,100 ¥402 ¥610 ¥730 ¥219 ¥275 ¥275 509 ................... ................... 4,204 5,219 6,314 72.40 73.10 73.20 73.45 74.40 15 10 6 22 14 10 ¥25 ¥18 ¥13 ¥2 ................... ................... 10 6 3 cprice-sewell on PROD1PC66 with BUDGET PAG As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from loan guarantees committed in 1992 and beyond (including modifications of loan guarantees that resulted from commitments in any year). The amounts in this account are a means of financing and are not included in the budget totals. Balance Sheet (in millions of dollars) Identification code 73–4149–0–3–376 2004 actual 2005 actual 86.97 25 18 13 ASSETS: Federal assets: 1101 Fund balances with Treasury ......................................... VerDate Aug 31 2005 12:38 Jan 26, 2006 Jkt 206762 PO 00000 Offsets: Against gross budget authority and outlays: Offsetting collections (cash) from: Loan repayments: 88.40 Financing Investtment programs-principal .......... 88.40 Interest Income-Business & investment .............. 88.40 Fees ....................................................................... 88.40 Collection on FFB loans ........................................ 88.40 Other Income-both Business and Investment ...... 88.90 Total, offsetting collections (cash) ....................... E:\BUDGET\SBA.XXX SBA ¥37 ¥6 ¥1 ¥17 ¥4 ¥65 ¥25 ¥5 ¥1 ¥15 ¥2 ¥48 ¥17 ¥4 ¥1 ¥12 ¥2 ¥36 3,032 Frm 00006 2,529 Fmt 3616 Sfmt 3643 SMALL BUSINESS ADMINISTRATION Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 4999 50 ¥40 30 ¥30 20 ¥23 Federal Funds—Continued 1097 229 Total liabilities and net position ................................... 284 89.00 90.00 Object Classification (in millions of dollars) Identification code 73–4154–0–3–376 2006 est. 2007 est. 2005 actual 2006 est. 2007 est. Status of Direct Loans (in millions of dollars) Identification code 73–4154–0–3–376 2005 actual 42.0 43.0 99.9 Insurance claims and indemnities ................................ Interest and dividends ................................................... Total new obligations ................................................ f 16 6 22 10 4 14 7 3 10 Cumulative balance of direct loans outstanding: Outstanding, start of year ............................................. 4 9 4 Disbursements: Purchase of loans assets from the public ......................................................................... ................... ................... ................... 1251 Repayments: Repayments and prepayments ................. ¥2 ¥4 ¥2 Write-offs for default: 1263 Direct loans ............................................................... ................... ¥1 ................... 7 ................... ................... 1264 Other adjustments, net1 ........................................... 1210 1232 1290 Outstanding, end of year .......................................... Cumulative balance of direct loans outstanding: Outstanding, start of year ............................................. Repayments: Repayments and prepayments ................. Outstanding, end of year .......................................... 9 4 2 DISASTER LOANS PROGRAM ACCOUNT (INCLUDING TRANSFERS OF FUNDS) 1210 1251 1290 57 ¥17 40 40 ¥15 25 25 ¥12 13 1 Status of Guaranteed Loans (in millions of dollars) Identification code 73–4154–0–3–376 2005 actual 2006 est. 2007 est. Cumulative balance of guaranteed loans outstanding: 2210 Outstanding, start of year ............................................. 2251 Repayments and prepayments ...................................... 2261 Adjustments: Terminations for default that result in loans receivable ........................................................ 2290 Outstanding, end of year .......................................... 531 ¥150 ¥4 377 377 ¥106 ¥3 268 268 ¥75 ¥2 191 Memorandum: Guaranteed amount of guaranteed loans outstanding, end of year ................................................................ Addendum: Cumulative balance of defaulted guaranteed loans that result in loans receivable: 2310 Outstanding, start of year ........................................ 2331 Disbursements for guaranteed loan claims ............. 2351 Repayments of loans receivable ............................... 2361 Write-offs of loans receivable ................................... 2364 Other adjustments, net ............................................. 2299 2390 Outstanding, end of year ...................................... 331 214 168 øFrom unobligated balances under this heading, in fiscal year 2006, not to exceed $9,000,000 may be transferred to and merged with appropriations for Salaries and Expenses for indirect administrative expenses, of which $1,500,000 is for the Office of Inspector General of the Small Business Administration for audits and reviews of disaster loans and the disaster loan program and shall be transferred to and merged with appropriations for the Office of Inspector General.¿ For the cost of direct loans authorized by section 7(b) of the Small Business Act, $85,140,000, to remain available until expended: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974. In addition, for administrative expenses to carry out the direct loan program authorized by section 7(b), of the Small Business Act, $113,850,000, of which $495,000 is for the Office of Inspector General of the Small Business Administration for audits and reviews of disaster loans and the disaster loan program and shall be transferred to and merged with appropriations for the Office of Inspector General; of which $104,445,000 is for direct administrative expenses of loan making and servicing to carry out the direct loan program, to remain available until expended, and which may be transferred and merged with appropriations for Salaries and Expenses; and of which $8,910,000 is for indirect administrative expenses, which may be transferred and merged with appropriations for Salaries and Expenses. (RESCISSION) Of the unobligated balances available under this heading, $3,700,000 are rescinded. (Science, State, Justice, Commerce, and Related Agencies Appropriations Act, 2006.) ø(INCLUDING TRANSFER OF FUNDS)¿ 79 55 44 4 3 2 ¥20 ¥13 ¥11 ¥2 ¥1 ¥1 ¥6 ................... ................... 55 44 34 As required by the Federal Credit Reform Act of 1990, as amended, this account records all cash flows to and from the Government resulting from SBA direct loans obligated and loan guarantees committed prior to 1992. This account is shown on a cash basis. All new activity in this program in 1992 and beyond (including modifications of direct loans or loan guarantees made in any year) is recorded in corresponding program and financing accounts. Balance Sheet (in millions of dollars) Identification code 73–4154–0–3–376 2004 actual 2005 actual 1101 1206 1601 1604 1699 1901 1999 ASSETS: Federal assets: Fund balances with Treasury .............. Non-Federal assets: Receivables, net ............................ Direct loans, gross .......................................................... Direct loans and interest receivable, net ..................... Value of assets related to direct loans ....................... Other Federal assets: Other assets ............................... 108 8 133 133 133 35 284 8 58 183 8 27 284 Frm 00007 88 2 104 104 104 35 229 6 41 156 4 22 229 Fmt 3616 øFor an additional amount for the ‘‘Disaster Loans Program Account’’ authorized by section 7(b) of the Small Business Act, for necessary expenses related to hurricanes in the Gulf of Mexico in calendar year 2005 and other natural disasters, $264,500,000, to remain available until expended: Provided, That such costs, including the cost of modifying such loans shall be as defined in section 502 of the Congressional Budget Act of 1974. In addition, for administrative expenses to carry out the direct loan program authorized by section 7(b), $176,500,000, to remain available until expended, which may be transferred to and merged with ‘‘Salaries and Expenses’’: Provided, That the amounts provided under this heading are designated as an emergency requirement pursuant to section 402 of H. Con. Res. 95 (109th Congress), the concurrent resolution on the budget for fiscal year 2006: Provided further,That no funds shall be transferred to the appropriation for ‘‘Salaries and Expenses’’ for indirect administrative expenses.¿ (Emergency Supplemental Appropriations Act to Address Hurricanes in the Gulf of Mexico and Pandemic Influenza, 2006.) Program and Financing (in millions of dollars) Identification code 73–1152–0–1–453 2005 actual 2006 est. 2007 est. cprice-sewell on PROD1PC66 with BUDGET PAG Total assets ...................................................................... LIABILITIES: Federal liabilities: 2101 Accounts payable ............................................................. 2103 Debt ................................................................................... 2105 Other Liabilities ................................................................ Non-Federal liabilities: 2201 Accounts payable ............................................................. 2207 Other Liabilities ................................................................ 2999 Total liabilities ................................................................. 12:38 Jan 26, 2006 Jkt 206762 PO 00000 00.01 00.05 00.06 00.09 10.00 Obligations by program activity: Direct loan subsidy ........................................................ Upward reestimate of direct loans ................................ Interest on upward reestimates of direct loans ........... Administrative expense .................................................. Total new obligations ................................................ Budgetary resources available for obligation: Unobligated balance carried forward, start of year E:\BUDGET\SBA.XXX SBA 163 223 114 540 1,040 671 118 70 ................... 10 ................... 187 114 938 232 21.40 29 386 4 VerDate Aug 31 2005 Sfmt 3643 1098 Federal Funds—Continued THE BUDGET FOR FISCAL YEAR 2007 359001 Outlays from new authority ........................................... 463 170 81 Credit accounts—Continued DISASTER LOANS PROGRAM ACCOUNT—Continued ø(INCLUDING TRANSFER OF FUNDS)¿—Continued Program and Financing (in millions of dollars)—Continued Identification code 73–1152–0–1–453 2005 actual 2006 est. 2007 est. 22.00 22.10 23.90 23.95 24.40 New budget authority (gross) ........................................ Resources available from recoveries of prior year obligations ....................................................................... Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year 1,377 20 1,426 ¥1,040 386 521 35 942 ¥938 195 33 232 ¥232 4 ................... New budget authority (gross), detail: Discretionary: 40.00 Appropriation ............................................................. 113 ................... 199 40.00 Appropriation (supplemental) .................................... 929 441 ................... 40.35 Appropriation permanently reduced .......................... ¥2 ................... ................... 40.36 Unobligated balance permanently reduced .............. ................... ................... ¥4 43.00 60.00 70.00 Appropriation (total discretionary) ........................ Mandatory: Appropriation ............................................................. Total new budget authority (gross) .......................... Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Recoveries of prior year obligations .............................. Change in uncollected customer payments from Federal sources (expired) ................................................ Obligated balance, end of year ................................ Outlays (gross), detail: Outlays from new discretionary authority ..................... Outlays from discretionary balances ............................. Outlays from new mandatory authority ......................... Total outlays (gross) ................................................. Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... 1,040 337 1,377 441 195 80 ................... 521 195 72.40 73.10 73.20 73.45 74.10 74.40 43 1,040 ¥1,003 ¥20 59 938 ¥929 ¥35 33 232 ¥153 ¥33 ¥1 ................... ................... 59 33 79 86.90 86.93 86.97 87.00 640 26 337 1,003 441 153 408 ................... 80 ................... 929 153 As required by the Federal Credit Reform Act of 1990, as amended, this account records, for loans made pursuant to Section 7(b) of the Small Business Act, as amended, the subsidy costs associated with the direct loans obligated in 1992 and beyond (including modifications of direct loans or loan guarantees that resulted from obligations or commitments in any year), as well as administrative expenses of this program. The subsidy amounts are estimated on a present value basis; the administrative expenses are estimated on a cash basis. Disaster loans made pursuant to Section 7(b) of the Small Business Act provide Federal assistance for non-farm, private sector disaster losses. Through this program, SBA helps homeowners, renters, businesses of all sizes, and non-profit organizations pay for the cost of rebuilding and repairing structures damaged by natural disasters. The program is the only form of SBA assistance not limited to small businesses. The program provides subsidized loans of up to 30 years to borrowers who have incurred uninsured physical losses or economic injury as the result of a natural disaster. The 2007 Budget proposes to continue providing preferential loan terms to victims of disasters. However, to more appropriately tailor Federal assisatance to borrower needs and contain the escalating costs of the loans, the Budget proposes to adopt graduated interest rates for the Disaster Loan program. During the first five years after a disaster, interest rates would remain well below the Treasury’s interest rate for most borrowers. Thereafter, rates would graduate to a comparable-maturity Treasury instrument. This structure would continue to provide borrowers with deep interest subsidies when they need them most—immediately after a disaster—and after five years, subsidies would continue at a reduced level. In 2007, the Budget supports $900 million in loans. The subsidy rate is 13.18 percent. Object Classification (in millions of dollars) Identification code 73–1152–0–1–453 2005 actual 2006 est. 2007 est. 89.00 90.00 1,377 1,003 521 929 195 153 25.2 41.0 99.9 Other services ................................................................ Grants, subsidies, and contributions ............................ Total new obligations ................................................ f 540 500 1,040 187 751 938 114 118 232 Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars) Identification code 73–1152–0–1–453 2005 actual 2006 est. 2007 est. Direct loan levels supportable by subsidy budget authority: 115001 Disaster Loan ................................................................. 115901 Total direct loan levels .................................................. Direct loan subsidy (in percent): 132001 Disaster Loan ................................................................. 132901 Weighted average subsidy rate ..................................... Direct loan subsidy budget authority: 133001 Disaster Loan ................................................................. 133901 Total subsidy budget authority ...................................... Direct loan subsidy outlays: 134001 Disaster Loan ................................................................. cprice-sewell on PROD1PC66 with BUDGET PAG DISASTER DIRECT LOAN FINANCING ACCOUNT Program and Financing (in millions of dollars) 1,271 1,271 12.86 12.86 163 163 127 127 337 337 4,587 4,587 14.64 14.64 671 671 671 671 900 900 13.18 13.18 118 118 69 69 08.91 10.00 Identification code 73–4150–0–3–453 2005 actual 2006 est. 2007 est. 00.01 00.02 00.03 00.91 08.02 08.04 Obligations by program activity: Direct loans .................................................................... Interest on Treasury borrowing ...................................... Other .............................................................................. Direct obligations—Subtotal .................................... Payment of downward reestimate to a receipt account Payment of interest on downward reestimate to a receipt account .......................................................... Direct obligations—Subtotal .................................... Total new obligations ................................................ 1,271 4,587 900 406 600 300 26 ................... ................... 1,703 27 43 70 1,773 5,187 1,200 9 ................... 5 ................... 14 ................... 5,201 1,200 134901 Total subsidy outlays ..................................................... Direct loan upward reestimate subsidy budget authority: 135001 Disaster Loan ................................................................. 135901 Total upward reestimate budget authority .................... Direct loan downward reestimate subsidy budget authority: 137001 Disaster Loan ................................................................. 137901 Total downward reestimate budget authority ............... Administrative expense data: 351001 Budget authority ............................................................ VerDate Aug 31 2005 12:38 Jan 26, 2006 Jkt 206762 80 ................... 80 ................... ¥70 ¥70 ¥14 ................... ¥14 ................... Budgetary resources available for obligation: Unobligated balance carried forward, start of year New financing authority (gross) .................................... Resources available from recoveries of prior year obligations ....................................................................... 22.60 Portion applied to repay debt ........................................ 21.40 22.00 22.10 23.90 23.95 Total budgetary resources available for obligation Total new obligations .................................................... E:\BUDGET\SBA.XXX SBA 2,844 4,940 3,192 ................... 5,720 1,491 171 ................... ................... ¥2,990 ¥3,711 ¥291 4,965 ¥1,773 5,201 ¥5,201 1,200 ¥1,200 540 PO 00000 187 Frm 00008 114 Fmt 3616 Sfmt 3643 SMALL BUSINESS ADMINISTRATION 24.40 Unobligated balance carried forward, end of year 3,192 ................... ................... 1401 1405 3,713 3,915 782 1499 1999 Federal Funds—Continued 1099 New financing authority (gross), detail: Mandatory: 67.10 Authority to borrow .................................................... Spending authority from offsetting collections: Discretionary: 68.00 Offsetting collections (cash) ................................ 68.10 Change in uncollected customer payments from Federal sources (unexpired) ............................. 68.90 70.00 Spending authority from offsetting collections (total discretionary) .......................................... Total new financing authority (gross) ...................... Net value of assets related to post– 1991 direct loans receivable: Direct loans receivable, gross ........................................ Allowance for subsidy cost (-) ...................................... Net present value of assets related to direct loans .. 3,034 –613 2,421 5,933 3,618 –689 2,929 6,603 1,211 1,805 709 16 ................... ................... 1,227 4,940 1,805 5,720 709 1,491 Total assets ...................................................................... LIABILITIES: Federal liabilities: 2103 Debt ................................................................................... 2105 Other ................................................................................. 2201 Non-Federal liabilities: Accounts payable ...................... 2999 4999 Total liabilities ................................................................. Total liabilities and net position ................................... f 5,863 68 2 5,933 5,933 6,585 18 ....................... 6,603 6,603 Change in obligated balances: 72.40 Obligated balance, start of year ................................... 73.10 Total new obligations .................................................... 73.20 Total financing disbursements (gross) ......................... 73.45 Recoveries of prior year obligations .............................. 74.00 Change in uncollected customer payments from Federal sources (unexpired) ............................................ 74.40 87.00 Obligated balance, end of year ................................ Total financing disbursements (gross) ......................... 293 404 605 1,773 5,201 1,200 ¥1,475 ¥5,000 ¥993 ¥171 ................... ................... ¥16 ................... ................... 404 1,475 605 5,000 812 993 DISASTER LOAN FUND LIQUIDATING ACCOUNT Program and Financing (in millions of dollars) Identification code 73–4153–0–3–453 2005 actual 2006 est. 2007 est. Offsets: Against gross financing authority and financing disbursements: Offsetting collections (cash) from: 88.00 Payments from program account ......................... ¥127 ¥671 ¥69 88.00 Upward reestimate ................................................ ¥223 ¥70 ................... 88.00 Interest on upward reestimate ............................. ¥114 ¥10 ................... 88.25 Interest income from Treasury .............................. ¥269 ¥500 ¥275 88.40 Repayments of principal, net ............................... ¥478 ¥554 ¥350 88.40 Collection of misc. receivables ............................. ................... ................... ¥15 88.90 88.95 Total, offsetting collections (cash) ....................... Against gross financing authority only: Change in receivables from program accounts ....... Net financing authority and financing disbursements: Financing authority ........................................................ Financing disbursements ............................................... ¥1,211 ¥1,805 ¥709 01.01 01.03 10.00 Obligations by program activity: Interest expense to Treasury .......................................... 2 Other expenses ............................................................... ................... Total new obligations ................................................ 2 3 2 5 1 2 3 Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority from offsetting collections (gross) ....................................................................... 22.40 Capital transfer to general fund ................................... 21.40 22.00 23.90 23.95 24.40 Total budgetary resources available for obligation Total new obligations .................................................... Unobligated balance carried forward, end of year 61 64 ¥61 64 ¥2 62 ................... 21 ¥78 5 ¥5 12 ¥9 3 ¥3 ¥16 ................... ................... 62 ................... ................... 89.00 90.00 3,713 265 3,915 3,195 782 284 Status of Direct Loans (in millions of dollars) Identification code 73–4150–0–3–453 2005 actual 2006 est. 2007 est. New budget authority (gross), detail: Mandatory: 60.00 Appropriation ............................................................. 69.00 Spending authority from offsetting collections: Offsetting collections (cash) .............................................. 70.00 Total new budget authority (gross) .......................... Change in obligated balances: Obligated balance, start of year ................................... Total new obligations .................................................... Total outlays (gross) ...................................................... Obligated balance, end of year ................................ Outlays (gross), detail: Outlays from new mandatory authority ......................... 50 14 64 10 11 21 5 7 12 Position with respect to appropriations act limitation on obligations: 1111 Limitation on direct loans ............................................. ................... ................... ................... 1131 Direct loan obligations exempt from limitation ............ 1,271 4,587 900 1150 Total direct loan obligations ..................................... 1,271 4,587 900 72.40 73.10 73.20 74.40 3 2 ¥3 2 2 5 ¥3 4 4 3 ¥2 5 Cumulative balance of direct loans outstanding: Outstanding, start of year ............................................. Disbursements: Direct loan disbursements ................... Repayments: Repayments and prepayments ................. Write-offs for default: 1263 Direct loans ............................................................... 1264 Other adjustments, net ............................................. 1210 1231 1251 1290 Outstanding, end of year .......................................... 3,034 995 ¥372 3,618 3,532 ¥554 6,534 693 ¥350 86.97 3 3 2 ¥51 ¥62 ¥60 12 ................... ................... 3,618 6,534 6,817 Offsets: Against gross budget authority and outlays: Offsetting collections (cash) from: 88.40 Loan repayments ................................................... 88.40 Other collection ..................................................... 88.90 Total, offsetting collections (cash) ....................... Net budget authority and outlays: Budget authority ............................................................ Outlays ........................................................................... ¥8 ¥6 ¥14 ¥9 ¥2 ¥11 ¥5 ¥2 ¥7 cprice-sewell on PROD1PC66 with BUDGET PAG As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from direct loans obligated in 1992 and beyond (including modifications of direct loans that resulted from obligations in any year). The amounts in this account are a means of financing and are not included in the budget totals. Balance Sheet (in millions of dollars) Identification code 73–4150–0–3–453 2004 actual 2005 actual 89.00 90.00 50 ¥11 10 ¥8 5 ¥5 Status of Direct Loans (in millions of dollars) Identification code 73–4153–0–3–453 2005 actual 2006 est. 2007 est. ASSETS: Federal assets: 1101 Fund balances with Treasury ......................................... Investments in US securities: 1106 Interest/Accounts Receivables ......................................... VerDate Aug 31 2005 12:38 Jan 26, 2006 Jkt 206762 PO 00000 3,137 375 Frm 00009 3,595 79 Fmt 3616 Cumulative balance of direct loans outstanding: 1210 Outstanding, start of year ............................................. 35 28 21 1251 Repayments: Repayments and prepayments ................. ¥8 ¥6 ¥5 Write-offs for default: 1263 Direct loans ............................................................... ................... ¥1 ................... 1264 Other adjustments, net ............................................. 1 ................... 1 1290 Sfmt 3643 Outstanding, end of year .......................................... E:\BUDGET\SBA.XXX SBA 28 21 17 1100 Federal Funds—Continued THE BUDGET FOR FISCAL YEAR 2007 Status of Guaranteed Loans (in millions of dollars) Identification code 73–4147–0–3–376 2005 actual 2006 est. 2007 est. Credit accounts—Continued DISASTER LOAN FUND LIQUIDATING ACCOUNT—Continued As required by the Federal Credit Reform Act of 1990, as amended, this account records all cash flows to and from the Government resulting from SBA disaster direct loans obligated prior to 1992. This account is shown on a cash basis. All new activity in this program in 1992 and beyond (including modifications of direct loans or loan guarantees made in any year) is recorded in corresponding program and financing accounts. Balance Sheet (in millions of dollars) Identification code 73–4153–0–3–453 2004 actual 2005 actual Cumulative balance of guaranteed loans outstanding: 2210 Outstanding, start of year ............................................. 6 4 1 2251 Repayments and prepayments ...................................... ¥2 ¥2 ¥1 Adjustments: 2261 Terminations for default that result in loans receivable ....................................................................... ................... ¥1 ................... 2264 Other adjustments, net ............................................. ................... ................... ................... 2290 Outstanding, end of year .......................................... 4 1 ................... ASSETS: 1101 Federal assets: Fund balances with Treasury .............. 1601 Direct loans, net .............................................................. 1699 1901 1999 Value of assets related to direct loans ....................... Other Federal assets: Other assets ............................... 64 35 35 3 102 3 99 102 102 64 28 28 ....................... 92 2 90 92 92 Memorandum: Guaranteed amount of guaranteed loans outstanding, end of year ................................................................ 4 1 ................... Addendum: Cumulative balance of defaulted guaranteed loans that result in loans receivable: 2310 Outstanding, start of year ........................................ 49 20 23 2331 Disbursements for guaranteed loan claims ............. ................... 3 3 2361 Write-offs of loans receivable ................................... ¥29 ................... ................... 2299 2390 Outstanding, end of year ...................................... 20 23 26 Total assets ...................................................................... LIABILITIES: Federal liabilities: 2101 Accounts payable ............................................................. 2105 Other ................................................................................. 2999 4999 Total liabilities ................................................................. Total liabilities and net position ................................... Public Law 94–305 established this fund to alleviate the adverse impact of pollution regulations on small businesses. As a result of the elimination of tax exempt financing associated with the Pollution Control Guaranteed program, no new activity is anticipated for this program. Balance Sheet (in millions of dollars) Object Classification (in millions of dollars) Identification code 73–4147–0–3–376 Identification code 73–4153–0–3–453 2005 actual 2006 est. 2007 est. 2004 actual 2005 actual 25.2 43.0 99.9 Other services ................................................................ ................... Interest and dividends ................................................... 2 Total new obligations ................................................ f 2 3 5 2 1 3 2 ASSETS: 1101 Federal assets: Fund balances with Treasury .............. 1603 Allowance for estimated uncollectible loans and interest (-) .......................................................................... 1701 Defaulted guaranteed loans, gross ................................ Total assets ...................................................................... LIABILITIES: 2104 Federal liabilities: Resources payable to Treasury ....... 2999 4999 Total liabilities ................................................................. Total liabilities and net position ................................... f 3 ........................ 16 19 19 19 19 3 –15 20 8 8 8 8 1999 POLLUTION CONTROL EQUIPMENT FUND LIQUIDATING ACCOUNT Program and Financing (in millions of dollars) Identification code 73–4147–0–3–376 2005 actual 2006 est. 2007 est. Obligations by program activity: 00.01 Disbursement for Guaranty Loan Claim ........................ ................... 10.00 Total new obligations (object class 42.0) ................ ................... Budgetary resources available for obligation: Unobligated balance carried forward, start of year New budget authority (gross) ........................................ Capital transfer to general fund ................................... 3 3 3 3 ADMINISTRATIVE PROVISION—SMALL BUSINESS ADMINISTRATION Not to exceed 5 percent of any appropriation made available for the current fiscal year for the Small Business Administration in this Act may be transferred between such appropriations, but no such appropriation shall be increased by more than 10 percent by any such transfers: Provided, That any transfer pursuant to this paragraph shall be treated as a reprogramming of funds under section 605 of this Act and shall not be available for obligation or expenditure except in compliance with the procedures set forth in that section. (Science, State, Justice, Commerce, and Related Agencies Appropriations Act, 2006.) f 21.40 22.00 22.40 23.90 23.95 24.40 3 3 ¥3 3 ................... 3 3 ¥3 ................... 3 ¥3 3 ¥3 Total budgetary resources available for obligation 3 Total new obligations .................................................... ................... Unobligated balance carried forward, end of year 3 ................... ................... New budget authority (gross), detail: Mandatory: 60.00 Appropriation ............................................................. 3 3 3 GENERAL FUND RECEIPT ACCOUNTS (in millions of dollars) 73.10 73.20 cprice-sewell on PROD1PC66 with BUDGET PAG Change in obligated balances: Total new obligations .................................................... ................... Total outlays (gross) ...................................................... ................... Outlays (gross), detail: Outlays from new mandatory authority ......................... ................... Net budget authority and outlays: Budget authority ............................................................ 3 Outlays ........................................................................... ................... 3 ¥3 3 ¥3 Offsetting receipts from the public: 73–272130 Disaster loan program, Downward reestimates of subsidies ........................................................................ 73–272230 Business loan program, Downward reestimates of subsidies ............................................................. General Fund Offsetting receipts from the public ..................... 2005 actual 2006 est. 2007 est. 86.97 3 3 70 470 540 14 ................... 992 ................... 1,006 ................... 89.00 90.00 3 3 3 3 VerDate Aug 31 2005 12:38 Jan 26, 2006 Jkt 206762 PO 00000 Frm 00010 Fmt 3616 Sfmt 3643 E:\BUDGET\SBA.XXX SBA