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U.S. TRADE AND DEVELOPMENT AGENCY
NOTES TO FINANCIAL STATEMENTS
September 30, 2020 and 2019
Under Section 632(a) of the FAA and the Consolidated Appropriations Act, 2017 (P.L. 115-31, Division J), the U.S. Agency for International Development (USAID) and USTDA entered into an agreement in FY 2018, under which USAID transferred $3.2 million to USTDA to continue its program in project preparation assistance that will advance cleaner energy projects in Africa. As of September 30, 2018, these funds were fully obligated. USTDA has not received any additional 632(a) transfer funds in FY 2019 and 2020.
In FY 2016 under Section 632(b) of the FAA, USAID and USTDA entered into a “Participating Agency Program Agreement” that provides $2.8 million to USTDA to establish a four-year program for personnel to support the Power Africa Roadmap. In FY 2019, this agreement was modified by an additional $1 million, for a total combined amount of $3.8 million. As of September 30, 2018, $0.5 million had been obligated and disbursed by USTDA and invoiced to USAID under this agreement. As of September 30, 2019, an additional $0.6 million had been obligated disbursed by USTDA and invoiced to USAID under this agreement. As of September 30, 2020, an additional $.4 million had been obligated and $.1 million disbursed by USTDA and invoiced to USAID under this agreement.
On September 30, 2019, under Section 604 of the FAA, as amended, (22 U.S.C. § 2354) and Section 636 of the FAA, as amended, (22 U.S.C. § 2339(i)), DOS and USTDA concluded a transfer agreement in the amount of $28 million on September 30, 2019 to advance the Administration’s Indo-Pacific Strategy. The funding, which was received in FY 2020, provides USTDA resources to expand its program across the entire region for project preparation investments designed to spur financing of quality infrastructure projects in USTDA’s partner countries while also opening those markets for the export of U.S.-manufactured goods, technologies and services. As of September 30, 2020, $9.2 million had been obligated and $.1 million disbursed by USTDA and invoiced to DOS under this agreement.
(f) Fund Balance with Treasury
USTDA does not maintain cash in commercial bank accounts. The U.S. Department of the Treasury processes cash receipts and disbursements. The balance of funds with Treasury primarily represents appropriated funds that are available to pay current liabilities and to finance future authorized purchases.
(g) Accounts Receivable
USTDA regards amounts due from other Federal agencies as 100 percent collectible.
Federal accounts receivable consists of amounts due from DOS and USAID for the reimbursable programs. Consistent with accounting standards, USTDA records an accounts receivable from DOS and USAID in the same amount as the accounts payable to contractors for services provided under the interagency agreements.
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