2004 Financial Report of the United States Government
The economy strengthened in fiscal year 2004, with real gross domestic product (GDP) growing at a faster pace than in the prior fiscal year and employment posting a large increase after declining in each of the previous 3 fiscal years. Rising employment and income contributed to an increase.in fiscal year 2004-the first gain in four years.Outlays, however, rose more than receipts and the Federal budget deficit widened in fiscal year 2004 to $412.3 billion, an increase of $37.5 billion from $374.8 billion in fiscal year 2003. Overall, results in fiscal year 2004 were mixed.- Economic and Budgetary Results, Financial Report Of The United States GovernmentFINANCIAL REPORT OF THE UNITED STATES GOVERNMENT is prepared to give the President, Congress, and the American people information about the financial results and position of the Federal Government. The Department of the Treasury's Financial Management Service, which provides centralized payment, collection, and reporting services for the Federal Government and acts as its money manager, issues this report on an annual basis.The Financial Report provides a broad, comprehensive overview of the Federal Government's finances and states the Government's financial position and condition, its revenues and costs, its assets and liabilities as well as other obligations and commitments.A Financial Report is submitted to Congress by March of each year as is required by law and is subject to audit by the Government Accountability Office (GAO). The next scheduled Financial Report will be issued in December 2005. For more information about the Department of Treasury, please visit http: //fms.treas.gov.
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Stewardship Information Unaudited
List of Social Insurance Charts
Total Medicare HI and SMI Expenditures and Noninterest Income
Estimated Railroad Retirement Income Excluding Interest
Estimated Unemployment Fund Cashflow Using Expected Economic
Notes to the Financial Statements
Supplemental Information Unaudited
accounts accrued activities actuarial addition Administration agencies amounts annual assets assumptions audit authorizing balance basis beneficiaries benefits billions of dollars budget cash Chart Collections consolidated financial statements contingencies Corporation cost debt Defense Department Development differences Disability earnings effective employees environmental established estimated excluding expected expenditures expenses Federal federal agencies fiscal year 2004 future Government Government's guarantees held higher historical improvements income increase individual Insurance interest internal inventory investments land less liability loans loss material Medicare military needed Note obligations operations participants payable payments pension percent period perspective position premiums present value projected provides Railroad Retirement receivable recorded reported represent reserve respectively responsibilities revenues September 30 Service shortfall shows significant Social Security sources statements Stewardship Table taxes transfers Treasury Trust Fund Unemployment United Veterans