Financial Statements and Notes


UNITED STATES ACCESS BOARD
BALANCE SHEET
AS OF SEPTEMBER 30, 2013 AND 2012
(In Dollars)

 

2013

2012

Assets:
Intragovernmental:
Fund Balance With Treasury (Note 2)
Accounts Receivable (Note 3)


$1,516,661 
1,941


$1,563,973
1,941

Total Intragovernmental
Accounts Receivable, Net (Note 3)
Property, Equipment, and Software, Net (Note 4)

1,518,602
29,702
400,417

1,565,914
27,579
430,666

Total Assets

$1,948,721 

$2,024,159

Liabilities:
Intragovernmental:
Accounts Payable
Other (Note 6)

25,899
26,902

25,900
54,018

Total Intragovernmental
Accounts Payable
Other (Note 6)

52,801
8,359
402,454

79,918
5,934
518,799

Total Liabilities (Note 5)

463,614

604,651

Net Position:
Unexpended Appropriations - All Other Funds
Cumulative Results of Operations - All Other Funds

 

1,395,804
89,303


1,277,203
142,305

Total Net Position

$1,485,107

$1,419,508

Total Liabilities and Net Position

$1,948,721

$2,024,159

The accompanying notes are an integral part of these financial statements.



 


 

UNITED STATES ACCESS BOARD
STATEMENT OF NET COST
FOR THE YEARS ENDED SEPTEMBER 30, 2013 AND 2012
(In Dollars)

 

2013

2012

Program Costs:
Gross Costs
Less: Earned Revenue


$7,149,937
(35,155)


$7,638,372
(22,467)

Net Program Costs

$7,114,782

$7,615,905

Net Cost of Operations (Note 8)

$7,114,782

$7,615,905


The accompanying notes are an integral part of these financial statements.

 


 

UNITED STATES ACCESS BOARD
STATEMENT OF CHANGES IN NET POSITION
FOR THE YEARS ENDED SEPTEMBER 30, 2013 AND 2012
(In Dollars)

 

2013

2012

Cumulative Results of Operations:
Beginning Balances
Budgetary Financing Sources:
Appropriations Used
Other Financing Sources (Non-Exchange):
Imputed Financing Sources (Note 9)
Total Financing Sources
Net Cost of Operations (Note 8)


142,305

6,865,576

196,204
7,061,780
22,536


$107,960

7,455,486

194,764
7,650,250
(7,615,905)

Net Change

(53,002)

34,345

Cumulative Results of Operations

$89,303

$142,305

Unexpended Appropriations:
Beginning Balances
Budgetary Financing Sources:
Appropriations Received
Other Adjustments
Appropriations Used


$1,277,203

7,400,000
(415,823)
(6,865,576)


$1,522,100

7,400,000
(189,411)
(7,455,486)

Total Budgetary Financing Sources

118,601

(244,897)

Total Unexpended Appropriations

$1,395,804

$1,277,203

Net Position

$1,485,107

$1,419,508

The accompanying notes are an integral part of these financial statements.

 


 

UNITED STATES ACCESS BOARD
STATEMENT OF BUDGETARY RESOURCES
FOR THE YEARS ENDED SEPTEMBER 30, 2013 AND 2012
(In Dollars)

 

2013

2013

Budgetary Resources:
Unobligated Balance:
Unobligated Balance Brought Forward, October 1
Recoveries of Prior Year Unpaid Obligations
Other changes in unobligated balance
Unobligated balance from prior year budget authority, net
Appropriations
Spending authority from offsetting collections



$281,522
377,825
(28,758)
630,589
7,012,936
22,536



$379,110
194,875
(189,411)
384,574
7,400,000
29,031

Total Budgetary Resources

$7,666,061

$7,813,605

Status of Budgetary Resources:
Obligations Incurred (Note 11)
Unobligated balance, end of year:
Apportioned
Unapportioned
Total unobligated balance, end of year


$7,295,841

75,231
294,989
370,220


$7,532,083

79,976
201,546
281,522

Total Budgetary Resources

$7,666,061

$7,813,605

Change in Obligated Balance:
Unpaid Obligations:
Unpaid Obligations, Brought Forward, October 1
Obligations Incurred (Note 11) 
Outlays (gross)
Recoveries of Prior Year Unpaid Obligations
Unpaid obligations, End of Year (Gross) (Note 2) 
Uncollected payments:
Uncollected Customer Payments, Federal Sources, Brought Forward, October 1 
Change in Uncollected Customer Payments, Federal Sources
Uncollected Customer Payments, Federal Sources, End of Year (Note 2)



$1,298,670
7,295,841
(7,064,370)
(377,825)
1,152,317

(16,219)
10,344
(5,876)

 

$1,459,140
7,532,083
(7,497,677)
(194,875)
1,298,670

(12,140)
(4,080)
(16,219)

Obligated Balance, End of Year (Note 2)

$1,146,441

$1,282,451

Budget Authority and Outlays, Net:
Budget authority, gross
Actual offsetting collections
Change in uncollected customer payments from Federal sources


$7,035,472
(32,880)
10,344


$7,429,031 
(24,951)
(4,080)
Budget Authority, net 7,012,936 7,400,000

Outlays, gross 
Actual offsetting collections 
Outlays, net

7,064,370
(32,880)
7,031,490

$7,497,677
(24,951)
7,472,726

Agency Outlays, net

$7,031,490

$7,472,726

The accompanying notes are an integral part of these financial statements.

 

 

 

 


 

 

UNITED STATES ACCESS BOARD NOTES TO THE FINANCIAL STATEMENTS


NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A. Reporting Entity

The Access Board is an independent Federal agency with the mission of developing guidelines and requirements for standards issued under the Americans with Disabilities Act and Architectural Barriers Act. Access Board was established by section 502 of the Rehabilitation Act and is the only Federal agency whose primary mission is accessibility for people with disabilities. Access Board is responsible for developing guidelines for ensuring that buildings and facilities, transportation vehicles, and telecommunications equipment covered by these laws are readily accessible to and usable by people with disabilities.

Access Board develops accessibility guidelines for telecommunications and electronic information technology under section 508 of the Rehabilitation Act. Access Board enforces the Architectural Barriers Act and provides training and technical assistance on each of its guidelines and standards, and on a variety of other accessibility issues. Access Board maintains a small research program that develops technical assistance materials and provides information needed for rulemaking.

Access Board’s reporting entity is comprised of General Funds and General Miscellaneous Receipts. General Funds are accounts used to record financial transactions arising under congressional appropriations or other authorizations to spend general revenues.

General Fund miscellaneous receipts are accounts established for receipts of non-recurring activity, such as fines, penalties, fees and other miscellaneous receipts for services and benefits.

Access Board has rights and ownership of all assets reported in these financial statements, and does not possess any non-entity assets.

B. Basis of Presentation

The financial statements have been prepared to report the financial position and results of operations of Access Board. The Balance Sheet presents the financial position of the agency. The Statement of Net Cost presents the agency’s operating results; the Statement of Changes in Net Position displays the changes in the agency’s equity accounts. The Statement of Budgetary Resources presents the sources, status, and uses of the agency’s resources and follow the rules for the Budget of the United States Government.

The statements are a requirement of the Chief Financial Officers Act of 1990, the Government Management Reform Act of 1994 and the Accountability of Tax Dollars Act of 2002. They have been prepared from, and are fully supported by, the books and records of Access Board in accordance with the hierarchy of accounting principles generally accepted in the United States of America, standards issued by the Federal Accounting Standards Advisory Board (FASAB), Office of Management and Budget (OMB) Circular A-136, Financial Reporting Requirements, as amended, and Access Board accounting policies which are summarized in this note. These statements, with the exception of the Statement of Budgetary Resources, are different from financial management reports, which are also prepared pursuant to OMB directives that are used to monitor and control Access Board’s use of budgetary resources. The financial statements and associated notes are presented on a comparative basis. Unless specified otherwise, all amounts are presented
in dollars.

C. Basis of Accounting

Transactions are recorded on both an accrual accounting basis and a budgetary basis. Under the accrual method, revenues are recognized when earned, and expenses are recognized when a liability is incurred, without regard to receipt or payment of cash. Budgetary accounting facilitates compliance with legal requirements on the use of federal funds.

D. Fund Balance with Treasury

Fund Balance with Treasury is the aggregate amount of Access Board’s funds with Treasury in expenditure, receipt, and deposit fund accounts. Appropriated funds recorded in expenditure accounts are available to pay current liabilities and finance authorized purchases. Access Board does not maintain bank accounts of its own, has no disbursing authority, and does not maintain cash held outside of Treasury. Treasury disburses funds for the agency on demand.

E. Accounts Receivable

Accounts receivable consists of amounts owed to Access Board by other Federal agencies and the general public. Amounts due from Federal agencies are considered fully collectible. Accounts receivable from the public include reimbursements from employees. An allowance for uncollectible accounts receivable from the public is established when, based upon a review of outstanding accounts and the failure of all collection efforts, management determines that collection is unlikely to occur considering the debtor’s ability to pay.

F. Property, Equipment, and Software

Property, equipment and software represent furniture, fixtures, equipment, and information technology hardware and software which are recorded at original acquisition cost and are depreciated or amortized using the straight-line method over their estimated useful lives. Major alterations and renovations are capitalized, while maintenance and repair costs are expensed as incurred. Access Board’s capitalization threshold is $50,000 for individual purchases and $500,000 for bulk purchases. Property, equipment, and software acquisitions that do not meet the capitalization criteria are expensed upon receipt. Applicable standard governmental guidelines regulate the disposal and convertibility of agency property, equipment, and software. The useful life classifications for capitalized assets are as follows:

Description

Useful Life (years)

Leasehold Improvements

9

Office Furniture

5

Computer Equipment

3

Office Equipment

5

Software

5

G. Advances and Prepaid Charges

Advance payments are generally prohibited by law. There are some exceptions, such as reimbursable agreements, subscriptions and payments to contractors and employees. Payments made in advance of the receipt of goods and services are recorded as advances or prepaid charges at the time of prepayment and recognized as expenses when the related goods and services are received.

H. Liabilities

Liabilities represent the amount of funds likely to be paid by Access Board as a result of transactions or events that have already occurred.

Access Board reports its liabilities under two categories, Intragovernmental and With the Public. Intragovernmental liabilities represent funds owed to another government agency. Liabilities With the Public represents funds owed to any entity or person that is not a federal agency, including private sector firms and federal employees. Each of these categories may include liabilities that are covered by budgetary resources and liabilities not covered by budgetary resources.

Liabilities covered by budgetary resources are liabilities funded by a current appropriation or other funding source. These consist of accounts payable and accrued payroll and benefits. Accounts payable represent amounts owed to another entity for goods ordered and received and for services rendered except for employees. Accrued payroll and benefits represent payroll costs earned by employees during the fiscal year which are not paid until the next fiscal year.

Liabilities not covered by budgetary resources are liabilities that are not funded by any current appropriation or other funding source. These liabilities consist of accrued annual leave, and actuarial FECA.

I. Annual, Sick, and Other Leave

Annual leave is accrued as it is earned, and the accrual is reduced as leave is taken. The balance in the accrued leave account is adjusted to reflect current pay rates. Liabilities associated with other types of vested leave, including compensatory, restored leave, and sick leave in certain circumstances, are accrued at year-end, based on latest pay rates and unused hours of leave. Funding will be obtained from future financing sources to the extent that current or prior year appropriations are not available to fund annual and other types of vested leave earned but not taken. Nonvested leave is expensed when used. Any liability for sick leave that is accrued but not taken by a Civil Service Retirement System (CSRS)-covered employee is transferred to the Office of Personnel Management (OPM) upon the retirement of that individual. Credit is given for sick leave balances in the computation of annuities upon the retirement of Federal Employees Retirement System (FERS)-covered employees effective at 50% beginning FY 2010 and 100% in 2014.

J. Accrued and Actuarial Workers’ Compensation

The Federal Employees' Compensation Act (FECA) administered by the U.S. Department of Labor (DOL) addresses all claims brought by the Access Board employees for on-the-job injuries. The DOL bills each agency annually as its claims are paid, but payment of these bills is deferred for two years to allow for funding through the budget process. Similarly, employees that Access Board terminates without cause may receive unemployment compensation benefits under the unemployment insurance program also administered by the DOL, which bills each agency quarterly for paid claims. Future appropriations will be used for the reimbursement to DOL. The liability consists of (1) the net present value of estimated future payments calculated by the DOL and (2) the unreimbursed cost paid by DOL for compensation to recipients under the FECA.

K. Retirement Plans

Access Board employees participate in either the CSRS or the FERS. The employees who participate in CSRS are beneficiaries of Access Board matching contribution, equal to seven percent of pay, distributed to their annuity account in the Civil Service Retirement and Disability Fund.

Prior to December 31, 1983, all employees were covered under the CSRS program. From January 1, 1984 through December 31, 1986, employees had the option of remaining under CSRS or joining FERS and Social Security. Employees hired as of January 1, 1987 are automatically covered by the FERS program. Both CSRS and FERS employees may participate in the federal Thrift Savings Plan (TSP). FERS employees receive an automatic agency contribution equal to one percent of pay and Access Board matches any employee contribution up to an additional four percent of pay. For FERS participants, Access Board also contributes the employer’s matching share of Social Security.

FERS employees and certain CSRS reinstatement employees are eligible to participate in the Social Security program after retirement. In these instances, Access Board remits the employer’s share of the required contribution.

Access Board recognizes the imputed cost of pension and other retirement benefits during the employees’ active years of service. OPM actuaries determine pension cost factors by calculating the value of pension benefits expected to be paid in the future and communicate these factors to Access Board for current period expense reporting. OPM also provides information regarding the full cost of health and life insurance benefits. Access Board recognized the offsetting revenue as imputed financing sources to the extent these expenses will be paid by OPM.

Access Board does not report on its financial statements information pertaining to the retirement plans covering its employees. Reporting amounts such as plan assets, accumulated plan benefits, and related unfunded liabilities, if any, is the responsibility of the OPM, as the administrator.

L. Other Post-Employment Benefits

Access Board employees eligible to participate in the Federal Employees' Health Benefits Plan (FEHBP) and the Federal Employees' Group Life Insurance Program (FEGLIP) may continue to participate in these programs after their retirement. The OPM has provided the Access Board with certain cost factors that estimate the true cost of providing the post-retirement benefit to current employees. Access Board recognizes a current cost for these and Other Retirement Benefits (ORB) at the time the employee's services are rendered. The ORB expense is financed by OPM, and offset by the Access Board through the recognition of an imputed financing source.

M. Use of Estimates

The preparation of the accompanying financial statements in accordance with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Actual results could differ from those estimates.

N. Imputed Costs/Financing Sources

Federal Government entities often receive goods and services from other Federal Government entities without reimbursing the providing entity for all the related costs. In addition, Federal Government entities also incur costs that are paid in total or in part by other entities. An imputed financing source is recognized by the receiving entity for costs that are paid by other entities. Access Board recognized imputed costs and financing sources in fiscal years 2013 and 2012 to the extent directed by accounting standards.

O. Reclassification

Certain fiscal year 2012 balances have been reclassified, retitled, or combined with other financial statement line items for consistency with the current year presentation.

 

NOTE 2. FUND BALANCE WITH TREASURY

Fund balance with Treasury account balances as of September 30, 2013 and 2012 were as follows:

Fund Balances:

 

2013

2012

Appropriated Funds

$1,516,661

$1,563,973

Total

$1,516,661

$1,563,973

Status of Fund Balance with Treasury:
Unobligated Balance
Available
Unavailable
Obligated Balance Not Yet Disbursed



$75,231
294,989
1,146,441



$79,976 
201,546 
1,282,451

Total

$1,563,973

$1,563,973

No discrepancies exist between the Fund Balance reflected on the Balance Sheet and the balances in the Treasury accounts.

The available unobligated fund balances represent the current-period amount available for obligation or commitment. At the start of the next fiscal year, this amount will become part of the unavailable balance as described in the following paragraph.

The unavailable unobligated fund balances represent the amount of appropriations for which the period of availability for obligation has expired. These balances are available for upward adjustments of obligations incurred only during the period for which the appropriation was available for obligation or for paying claims attributable to the appropriations.

The obligated balance not yet disbursed includes accounts payable, accrued expenses, and undelivered orders that have reduced unexpended appropriations but have not yet decreased the fund balance on hand.

 

NOTE 3. ACCOUNTS RECEIVABLE, NET

Accounts receivable balances as of September 30, 2013 and 2012 were as follows:

 

2013

2012

Intragovernmental
Accounts Receivable
With the Public
Accounts Receivable

1,941

29,702

1,941

27,579

Total Accounts Receivable

$31,643

$29,520

The accounts receivable is primarily employee receivables and other receivables with the public.

Historical experience has indicated that the majority of the receivables are collectible. There are no material uncollectible accounts as of September 30, 2013 and 2012.

 

NOTE 4. PROPERTY, EQUIPMENT, AND SOFTWARE, NET

Schedule of Leasehold Improvement as of September 30, 2013

Major Class

Acquisition Cost

Accumulated Amortization/ Depreciation

Net Book Value

Building

$475,220

74,803

$400,417

Total

$475,220

74,803

$400,417

Schedule of Leasehold Improvement as of September 30, 2012

Major Class

Acquisition Cost

Accumulated Amortization/ Depreciation

Net Book Value

Building

$451,571

20,905

$430,666

Total

$451,571

20,905

$430,666

 

NOTE 5. LIABILITIES NOT COVERED BY BUDGETARY RESOURCES

The liabilities on Access Board’s Balance Sheet as of September 30, 2013 and 2012, include liabilities not covered by budgetary resources. Congressional action is needed before budgetary resources can be provided. Although future appropriations to fund these liabilities are likely and anticipated, it is not certain that appropriations will be enacted to fund these liabilities.

 

2013

2012

Intragovernmental – FECA
Unfunded Leave
Total Liabilities Not Covered by Budgetary Resources
Total Liabilities Covered by Budgetary Resources

$5,837
315,556
321,393 
142,221

$5,837 
292,887 
298,724 
305,927

Total Public Liabilities

$463,614

$604,651

The FECA liability represents the unfunded liability for actual workers compensation claims paid on Access Boards’s behalf and payable to DOL. Access Board also records an actuarial liability for future workers compensation claims based on the liability to benefits paid (LBP) ratio provided by DOL and multiplied by the average of benefits paid over three years.

Unfunded leave represents a liability for earned leave and is reduced when leave is taken. The balance in the accrued annual leave account is reviewed quarterly and adjusted as needed to accurately reflect the liability at current pay rates and leave balances. Accrued annual leave is paid from future funding sources and, accordingly, is reflected as a liability not covered by budgetary resources. Sick and other leave is expensed as taken.

 

NOTE 6. OTHER LIABILITIES

Other liabilities account balances as of September 30, 2013 and September 30, 2012 were as follows:

Current Year: 

Current

Non Current

Total

Intragovernmental 
FECA Liability
Payroll Taxes Payable
Custodial Liability 


$5,837 
19,763
1,302


--
--
--


$5,837 
19,763
1,302 

Total Intragovernmental Other Liabilities

$26,902

--

$26,902

With the Public
Payroll Taxes Payable
Accrued Funded Payroll and Leave
Unfunded Leave 
Custodial Liability


$3,147
75,652
315,556
8,099


--
--
--
--


$3,147
75,652
315,556
8,099

Total Public Other Liabilities

$402,454

--

$402,454

 

Prior Year: 

Current

Non Current

Total

Intragovernmental 
FECA Liability 
Payroll Taxes Payable


$5,837 
48,181


--
--
--


$5,837 
48,181

Total Intragovernmental Other Liabilities

$54,018

--

$54,018

With the Public
Payroll Taxes Payable 
Accrued Funded Payroll and Leave
Unfunded Leave 


$9,585
216,327
292,887


--
--
--
--


$9,585
216,327
292,887

Total Public Other Liabilities

$518,799

--

$518,799

 

NOTE 7. LEASES

Operating Leases

Access Board occupies office space under a lease agreement that is accounted for as an operating lease. The lease started on July 1, 2008 and expires June 30, 2018. Lease payments are increased annually based on the adjustments for operating costs and real estate escalations. A schedule of future payments is as follows:

Fiscal Year

Totals

2014
2015
2016
2017
2018

$693,008
700,514
708,244
716,208
521,712

Total Future Payments

$3,339,686

 

NOTE 8. INTRAGOVERNMENTAL COSTS

Intragovernmental costs represent goods and services transactions made between two reporting entities within the Federal government, and are in contrast to those with non-federal entities (the public). Intragovernmental costs include payments to federal vendors for personnel benefits, rent, utilities, and other services. Payments made to non-federal entities (the public) are comprised primarily of employee salaries and other services. Such costs are summarized as follows:

 

2013

2012

Program Costs
Intragovernmental Costs
Public Costs


$2,409,116
4,740,821


$2,727,975
4,910,397

Total Program Costs
Intragovernmental Earned Revenue
Public Earned Revenue

$7,149,937
--
(35,155)

$7,638,372
(639)
(21,828)

Total Net Cost

$7,114,782

$7,615,905

 

NOTE 9. IMPUTED FINANCING SOURCES

Access Board recognizes as imputed financing the amount of accrued pension and post-retirement benefit expenses for current employees. The assets and liabilities associated with such benefits are the responsibility of the administering agency, the Office of Personnel Management (OPM). For the nine months ending September 30, 2013 and 2012, imputed financing were as follows:

 

2013

2012

Office of Personnel Management

$196,204

$194,764

Total Imputed Financing Sources

$196,204

$194,764

 

NOTE 10. BUDGETARY RESOURCE COMPARISONS TO THE BUDGET OF THE UNITED STATES GOVERNMENT

The President’s Budget that will include fiscal year 2013 actual budgetary execution information has not yet been published. The President’s Budget is scheduled for publication in February 2014 and can be found at the OMB Web site: http://www.whitehouse.gov/omb/. The 2014 Budget of the United States Government, with the "Actual" column completed for 2012, has been reconciled to the Statement of Budgetary Resources and there were no material differences.

 

NOTE 11. APPORTIONMENT CATEGORIES OF OBLIGATIONS INCURRED

Obligations incurred and reported in the Statement of Budgetary Resources in 2013 and 2012 consisted of the following:

 

2013

2012

Direct Obligations, Category A
Reimbursable Obligations, Category A

$7,295,841
--

$7 ,536,322
(4,239)

Total Obligations Incurred

$7,295,841

$7,532,083

Category A apportionments distribute budgetary resources by fiscal quarters.

 

NOTE 12. UNDELIVERED ORDERS AT THE END OF THE FISCAL PERIOD

For the fiscal years ended September 30, 2013 and 2012, undelivered orders amounted to $1,019,497 and $992,744 respectively.

 

NOTE 13. RECONCILIATION OF NET COST OF OPERATION TO BUDGET

Access Board has reconciled its budgetary obligations and non-budgetary resources available to its net cost of operations.

 

2013

2012

Resources Used to Finance Activities
Budgetary Resources Obligated
   Obligations Incurred
   Spending Authority from Offsetting Collections and Recoveries



$7,295,841
(400,361)



$7,532,083 
(223,906)

   Net Obligations
Other Resources
   Imputed Financing from Costs Absorbed by Others

6,895,480

196,204

7,308,177

194,764

Net Other Resources Used to Finance Activities

196,204

194,764

Total Resources Used to Finance Activities
Resources Used to Finance Items Not Part of the Net Cost of Operations

7,091,684
(40,849)

7,502,941
102,315

Total Resources Used to Finance the Net Cost of Operations

7,050,835

7,605,256

Components of the Net Cost of Operations That Will Not Require or
Generate Resources in the Current Period:


63,947


10,649

Net Cost of Operations

$7,114,782

$7,615,905