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U.S. TRADE AND DEVELOPMENT AGENCY
NOTES TO FINANCIAL STATEMENTS
September 30, 2020 and 2019
(9) Permanent Indefinite Appropriations
No-year funds as of September 30, 2020 and 2019 exist for the following purposes:
  General program activities $ Support for feasibility studies and activities (NIS and SEED)
Total permanent indefinite appropriations $
(10) Reconciliation of Net Cost to Net Outlays
2020
475,959 $ 46,667
522,626 $
2019
475,959 46,667
522,626
        Budgetary accounting is used for planning and control purposes and relates to both the receipt and use of cash, as well as reporting the federal deficit. Financial accounting is intended to provide a picture of the government’s financial operations and financial position, so it presents information on an accrual basis. The accrual basis includes information about costs arising from the consumption of assets and the incurrence of liabilities. The reconciliation of net outlays, presented on a budgetary basis, and the net cost, presented on an accrual basis, provides an explanation of the relationship between budgetary and financial accounting information. The reconciliation serves not only to identify costs paid for in the past and those that will be paid in the future, but also to assure integrity between budgetary and financial accounting. The analysis on the following page illustrates this reconciliation by identifying the key differences between USTDA’s net cost of operations and net outlays.
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