Page 34 - Financial Report 2020

PRIVACY AND CIVIL LIBERTIES OVERSIGHT BOARD

STATEMENT OF BUDGETARY RESOURCES

PCLOB’s total budgetary resources consist of new budget authority and unobligated
balances of budget authority provided in previous years. New obligations and upward
adjustments result from an order placed, contract awarded, service received, or similar
transaction, which will require payments during the same or a future period. Net outlays
reflect the actual cash disbursed by Treasury for PCLOB obligations net of offsetting
collections. Total budgetary resources were $30.7 million for FY 2020, of which $8.2
million comes from new budget authority, and $27.8 million for FY 2019, of which $5
million comes from new budget authority. New obligations and upward adjustments
increased approximately $760 thousand (or 8%) to $10.3 million, while net outlays
increased by $2.5 million (or 36%) to $9.5 million.

LIMITATIONS OF THE PRINCIPAL FINANCIAL STATEMENTS

The principal financial statements are prepared to report the financial position, financial
condition, and results of operations, pursuant to the requirements of 31 U.S.C. § 3515(b).
The statements are prepared from records of federal entities in accordance with GAAP and
the formats prescribed by OMB. Reports used to monitor and control budgetary resources
are prepared from the same records. Users of the statements are advised that the
statements are for a component of the U.S. Government.

FY 2020 AGENCY FINANCIAL REPORT 25