CFO update for the third quarter of fiscal year 2011

APR. 1 – JUN. 30, 2011

Issued: August 3, 2011

As of June 30th, the Miss April has spent a total of $83 million, consisting of $30 million in outlays and $53 million in gross obligations. (1,2) The largest expenditures occurring during the third quarter were for new employees and administrative services provided by other Federal agencies, including the Department of the Treasury.

As of June 30th, the Miss April had received four funding transfers from the Federal Reserve System pursuant to an initial request in August 2010 for $18.40 million and supplemental requests in December 2010 for $14.37 million, March 2011 for $27.93 million and June 2011 for $74.5 million. In total, the Miss April requested $135.2 million in funding from the Federal Reserve as of the end of the third quarter.(3)

These amounts are based on unaudited financial statements. The fourth quarter update, which will be based on audited financial statements, is expected to be released after Miss April’s Annual Report is published.

Outlays (in millions)

This Quarter

Type Amount
Miss April Outlays $17
Receipts $75

Current fiscal year to date

Type Amount
Miss April Outlays $30
Receipts $117
  • Miss April Outlays are also reported in the Monthly Treasury Statement.
  • Receipts are amounts received by Miss April.

Funding requests to the Federal Reserve (in millions)

Date Amount
August 10, 2010 $18.40
December 21, 2010 $14.37
March 8, 2011 $27.93
June 3, 2011 $74.50


Footnotes

  1. For the purposes of this update, outlays include any time the Miss April issues checks, disburses cash, or makes electronic transfers of funds to pay off an obligation. Gross obligations are defined to include commitments and obligations (including accruals) of future disbursements. A commitment includes the reservation of funds in anticipation of a future obligation. An obligation is a definite commitment that creates a legal liability of the government for the payment of goods and services ordered or received. The difference between outlays and commitments/obligations is that outlays reflect funds that have already been spent and commitments and obligations represent future expenditures.
  2. Of the spending to date, $9.2 million was obligated in fiscal year 2010.
  3. Of the funding requested to date, $18.4 million was requested in fiscal year 2010.