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U.S. TRADE AND DEVELOPMENT AGENCY
NOTES TO FINANCIAL STATEMENTS
September 30, 2020 and 2019
(5) Liabilities
Total liabilities represent the sum of liabilities not covered by budgetary resources and those covered by budgetary resources. As of September 30, 2020, and 2019, total liabilities were as follows:
  Intragovernmental: Accounts payable Deferred rent Other liabilities
Total intragovernmental
Liabilities with the public: Accounts payable Accrued annual leave Accrued payroll
Total liabilities with the public Total liabilities
Total liabilities not covered by budgetary resources Total liabilities covered by budgetary resources
Total liabilities
$
2020
279,643 862,552 —
1,142,195
13,283,441 690,897 458,220
14,432,558 15,574,753
1,553,449 14,021,304
15,574,753
2019
$ 290,260 886,774 —
1,177,034
13,501,575 477,222 348,397
14,327,194 $ 15,504,228
$ 1,363,996 14,140,232
$ 15,504,228
        $ $
$
              All liabilities other than the unfunded accrued leave are considered to be current liabilities. Approximately $12.6 million of the accounts payable balance as of September 30, 2020 relates to grant payments owed but unpaid. This balance was $12.2 million as of September 30, 2019.
As discussed in Note 6, USTDA took occupancy of its current building space in March 2018, from which point it received a rental abatement for six months through August 2018. The impact of straight lining the rent expense was recorded as deferred rent in FY 2018 and is amortized over the remaining lease period through February 2028.
 50 U.S. TRADE AND DEVELOPMENT AGENCY  ANNUAL REPORT 2020




































































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