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Financial Summary and Highlights


Bureau of the Comptroller and Global Financial Services
Report
December 16, 2013

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The financial summary and highlights that follow provide an overview of the FY 2013 financial statements of the Department of State (the Department). The independent auditor, Kearney & Company, audited the Department's Consolidated Balance Sheet for the fiscal years ending September 30, 2013 and 2012, along with the Consolidated Statements of Net Cost and Changes in Net Position, and the Combined Statement of Budgetary Resources1. The Department received an unmodified audit opinion on its FY 2013 financial statements. A summary of key financial measures from the Balance Sheet and Statements of Net Cost and Budgetary Resources is provided in the table below. The complete financial statements, including the independent auditor's reports, notes, and required supplementary information, are presented in Section II: Financial Information.

Summary Table of Key Financial Measures
(dollars in billions)
Summary Consolidated Balance Sheet Data FY 2013 FY 2012 % Change
Fund Balances With Treasury $47.6 $44.2 8%
Investments, Net 17.4 16.9 3%
Property and Equipment, Net 17.6 16.1 9%
Cash, Receivables, and Other Assets 2.2 2.4 (8)%
Total Assets $84.8 $79.6 7%
Accounts Payable $2.4 $2.8 (14)%
After-Employment Benefit Liability 20.6 19.9 4%
International Organizations Liabilities 1.9 1.4 36%
Other Liabilities 1.5 1.3 15%
Total Liabilities $26.4 $25.4 4%
Unexpended Appropriations 38.2 35.3 8%
Cumulative Result of Operations 20.2 18.9 7%
Total Net Position $58.4 $54.2 8%
Total Liabilities and Net Position $84.8 $79.6 7%
       
Summary Consolidated Statement of Net Cost Data
Total Cost and Loss on Assumption Charges $32.1 $33.2 (3)%
Less: Total Revenue (7.0) (6.7) 5%
Total Net Cost $25.1 $26.5 (5)%
       
Summary Combined Statement of Budgetary Resources Data
Unobligated Balance Brought Forward $17.5 $13.1 34%
Appropriations 31.5 31.7 (1)%
Spending Authority from Offsetting Collections 10.4 10.3 1%
Other Resources (Adjustments) 1.2 2.4 (50)%
Total Budgetary Resources $60.6 $57.5 5%

To help readers understand the Department's principal financial statements, this section is organized as follows:

 


1 Hereafter, in this section, the principal financial statements will be referred to as: Balance Sheet, Statement of Net Cost, Statement of Changes in Net Position, and Statement of Budgetary Resources. (back to text)

 




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