ARCHIVED INFORMATION -- Annual Accountability Report Fiscal Year 1995

U.S. Department of Education
Consolidating Statement of Operations and Changes in Net Position

For the Year Ended September 30, 1995
(Dollars in Thousands)

REVENUES AND EXPENSES


Federal
Family
Education
Loan
Program
Federal
Direct
Student
Loan
Program
All Other
Activities
Department
of Education
Consolidated
Balances
Revenues
   Interest, Non-Federal -- 43,049 39,882 82,931
   Interest, Federal 506,747 340,120 977 847,844
   Other Revenue -- -- 316 316
      Total Revenues 508,747 383,169 41,175 931,091

Expenses
   Guaranteed Loan Subsidy Expense 2,851,988 -- -- 2,851,988
   Direct Loan Subsidy Express -- 436,132 -- 436,132
   Elementary and Secondary Education Grants -- -- 9,324,757 9,324,757
   Postsecondary Education Grants -- -- 8,149,761 8,149,761
   Special Education and Rehabilitative Services Grants -- -- 5,580,045 5,580,045
   Other Grants -- -- 2,035,320 2,035,320
   Interest Expense 625,061 383,177 28,094 1,036,332
   Salaries and Administrative Expenses 33,122 31,058 337,752 401,932
   Contractual Program Expenses 158,098 97,857 410,506 667,261
   Bad Debt and Write-Offs 5,079 -- (2,180) 2,919
   Other Expenses, Net -- -- 559 559
      Total Expenses 3,474,348 948,024 25,864,634 30,287,006

Net Operating Activity (2,967,601) (564,855) (25,823,456) (29,355,915)
   FFLEP mandatory admin expenses
   funded by Direct Loan approp.
220,728 (220,728) -- --
   Operating Activity funded by appropriations $(2,748,873) $(785,583) $(25,823,456) $(29,355,915)

CHANGES IN NET POSITION
Net Position, Beginning of Year $(4,042,534) $203,226 $26,505,056 $22,665,748
Operating Activity funded by appropriations (2,746,873) (785,583) (25,823,459) (29,355,915)
Plus (Minus) Non-Operating Changes
Appropriated Funds Received 5,321,855 1,105,221 26,847,558 33,274,634
Appropriated Funds Returned 780,523 -- (114,527) (875,040)
Appropriated, Transferred From (To) Others 75,000 -- (40,782) 34,218
Net Position, End of Year $(2,153,075) $522,864 $27,373,856 $27,743,645

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