AGENCY FINANCIAL REPORT FY 2013: Section II

 

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Introduction 

 

The principal financial statements have been prepared to report the financial position and results of operations of HUD, pursuant to the requirements of 31 U.S.C. 3515(b). While the statements have been prepared from HUD’s books and records in accordance with GAAP for Federal entities and the formats prescribed by OMB, the statements are in addition to the financial reports used to monitor and control budgetary resources, which are prepared from the same books and records. The statements should be read with the realization that they are for a component of the U.S. Government, a sovereign entity.

 

The following financial statements are presented:

 

The Consolidated Balance Sheet, as of September 30, 2013 and 2012, which presents those resources owned or managed by HUD that are available to provide future economic benefits (assets), amounts owed by HUD that will require payments from those resources or future resources (liabilities), and residual amounts retained by HUD comprising the difference (net position).

 

The Consolidated Statement of Net Cost, which presents the net cost of HUD operations for the years ended September 30, 2013, and 2012. HUD’s net cost of operations includes the gross costs incurred by HUD less any exchange revenue earned from HUD activities.

 

The Consolidated Statement of Changes in Net Position, which presents the change in HUD’s net position resulting from the net cost of HUD operations, budgetary financing sources other than exchange revenues, and other financing sources for the years ended September 30, 2013, and 2012.

 

The Combined Statement of Budgetary Resources, which presents the budgetary resources available to HUD during FY 2013 and 2012, the status of these resources at September 30, 2013, and 2012, and the outlay of budgetary resources for the years ended September 30, 2013, and 2012.

 

The Notes to the Financial  Statements provide important disclosures and details related to information reported on the statements.

 

The FY 2012 financial statements in this section are restated. For further explanation see Note 30.
 

                   Consolidated Balance Sheet                                    Consolidated Statement of Net Cost              
Consolidated Balance Sheet Consolidated Statement of Net Cost

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  Consolidated Statement of Changes in Net Position                  Combined Statement of Budgetary Resources     

Consolidated Statement of Changes in Net Position Consolidated Statement of Budgetary Resources

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 Link to Notes to Financial Statements

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FY 2013 Agency Financial Report
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