Page 8 - Financial Report 2020

PRIVACY AND CIVIL LIBERTIES OVERSIGHT BOARD

Unobligated Balances - The unobligated balance is the portion of total budget authority
provided as financial resources, where no actions have been taken to spend or obligate
funding to pay for goods or services, nor bind the Government to pay liabilities. Limitations
in laws also create further categorization of unobligated balances into amounts being
“available” to spend on new obligations, “unavailable” due to various limitations, or
“expired” and no longer available for new obligations.
Congress often provides agencies with funds to obligate or spend in one fiscal year
(starting October 1 and ending September 30). These funds are referred to a one-year
appropriation account, and the budget authority expires and can no longer be used to incur
new obligations after September 30 of the fiscal year the appropriation was made.
Congress may also provide agencies with authority to obligate funds over 2 or more years,
referred to as multi-year funds or may not limit the amount of time funding remains
available, known as no year funds. PCLOB currently operates with funds obligated over a
two-year period.
Cumulative Results of Operations - Cumulative results of operations are a component of
net position on balance sheets representing the historical total for a fund, summing
revenues, expenses, gains, losses, transfers of assets and liabilities from other agencies, and
other financing sources provided to a fund since its inception. It is similar in concept to
retained earnings for a commercial firm.
Appropriations - Appropriation means a provision of law (not necessarily in an
appropriations act) authorizing the expenditure of funds for a given purpose. See OMB
Circular A-11 at https://www.whitehouse.gov/wp-content/uploads/2018/06/s20.pdf for
a more detailed explanation of appropriations.
Outlays - An outlay means a payment to liquidate an obligation (other than the repayment
of debt principal or other disbursements that are "means of financing" transactions).
Outlays generally are equal to cash disbursements but also are recorded for cash-
equivalent transactions, such as the issuance of debentures to pay insurance claims, and in
a few cases are recorded on an accrual basis such as interest on public issues of the public
debt. Outlays are a primary measure of Government spending.

FY 2020 AGENCY FINANCIAL REPORT iv