Consolidating Financial Statements
U.S. Office of Personnel Management Consolidating Balance Sheet
As of September 30, 2023 (in millions)
| Assets | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2023 | |
|---|---|---|---|---|---|---|---|---|
| Intragovernmental: | Fund Balance with Treasury [Note 2] | $1,123 | $1,822 | $13 | $418 | $368 | - | $3,744 |
| Investments [Note 3] | 1,042,823 | 57,775 | 52,551 | - | - | - | $1,153,149 | |
| Accounts Receivable [Note 4] | 1,861 | 875 | 24 | 22 | 183 | (239) | $2,726 | |
| Advance to Others and Prepayments | - | - | - | 3 | 3 | - | $6 | |
| Other Assets [Note 1L] | - | - | 1 | - | - | - | $1 | |
| Total Intragovernmental | 1,045,807 | 60,472 | 52,589 | 443 | 554 | (239) | 1,159,626 | |
| With the Public: | Accounts Receivable, Net [Note 4] | 626 | 1,238 | 196 | - | - | - | 2,060 |
| General Property, Plant, and Equipment, Net | - | - | - | - | - | - | - | |
| Other Assets [Note 1L] | - | 463 | 751 | - | - | - | 1,214 | |
| Total With the Public | 626 | 1,701 | 947 | - | - | - | 3,274 | |
| Total Assets | $1,046,433 | $62,173 | $53,536 | $443 | $554 | ($239) | $1,162,900 | |
| Liabilities | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2023 | |
|---|---|---|---|---|---|---|---|---|
| Intragovernmental: | Accounts Payable | $109 | $109 | $16 | $7 | $4 | ($239) | $6 |
| Advances from Others and Deferred Revenues | - | - | - | 99 | 49 | - | $148 | |
| Other Liabilities (Notes 6 & 7) | - | 260 | - | 2 | 10 | - | $272 | |
| Total Intragovernmental | 109 | 369 | 16 | 108 | 63 | (239) | 426 | |
| With the Public: | Accounts Payable | - | - | - | 20 | 5 | - | 25 |
| Advances from Others and Deferred Revenue | - | 4 | - | (7) | - | - | (3) | |
| Federal Employee Benefits Payable [Note 5] | 2,684,312 | 386,157 | 66,151 | 10 | 19 | - | 3,136,649 | |
| Other Liabilities (Notes 6 & 7) | 1,421 | 330 | 14 | 95 | 4 | - | 1,864 | |
| Total With the Public | 2,685,733 | 386,491 | 66,165 | 118 | 28 | - | 3,138,535 | |
| TotalLiabilities | $2,685,842 | $386,860 | $66,181 | $226 | $91 | ($239) | $3,138,961 | |
| Net Position | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2023 | |
|---|---|---|---|---|---|---|---|---|
| Unexpended Appropriations-Funds from Other than Dedicated Collections | - | - | - | - | $383 | - | $383 | |
| Cumulative Results of Operations-Funds from Other than Dedicated Collections | (1,639,409) | (324,687) | (12,645) | 217 | 80 | - | (1,976,444) | |
| Total Net Position | ($1,639,409) | ($324,687) | ($12,645) | $217 | $463 | - | ($1,976,061) | |
| Total Liabilities and Net Position | $1,046,433 | $62,173 | $53,536 | $443 | $554 | ($239) | $1,162,900 | |
The accompanying notes are an integral part of the financial statements.
As of September 30, 2022 (in millions)
| Assets | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2022 | |
|---|---|---|---|---|---|---|---|---|
| Intragovernmental: | Fund Balance with Treasury [Note 2] | $12 | $1,732 | $11 | $422 | $349 | - | $2,526 |
| Investments [Note 3] | 1,017,333 | 63,141 | 51,178 | - | - | - | $1,131,652 | |
| Accounts Receivable [Note 4] | 1,712 | 809 | 22 | 4 | 146 | (188) | $2,505 | |
| Advance to Others and Prepayments | - | - | - | 2 | 3 | - | 5 | |
| Total Intragovernmental | 1,019,057 | 65,682 | 51,211 | 428 | 498 | (188) | 1,136,688 | |
| With the Public: | Accounts Receivable, Net [Note 4] | 585 | 1,164 | 187 | - | - | - | 1,936 |
| General Property, Plant, and Equipment, Net | - | - | - | 2 | - | - | 2 | |
| Other Assets [Note 1L] | - | 218 | 701 | - | - | - | 919 | |
| Total With the Public | 585 | 1,382 | 888 | 2 | - | - | 2,857 | |
| Total Assets | $1,019,642 | $67,064 | $52,099 | $430 | $498 | ($188) | $1,139,545 | |
| Liabilities | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2022 | |
|---|---|---|---|---|---|---|---|---|
| Intragovernmental: | Accounts Payable | $71 | $356 | $16 | $7 | $7 | ($188) | $269 |
| Advances from Others and Deferred Revenues | - | - | - | 105 | 23 | - | 128 | |
| Other Liabilities (Notes 6 & 7) | - | - | - | 2 | 5 | - | 7 | |
| Total Intragovernmental | 71 | 356 | 16 | 114 | 35 | (188) | 404 | |
| With the Public: | Accounts Payable | - | - | - | 16 | 7 | - | 23 |
| Advances from Others and Deferred Revenue | - | 21 | - | 20 | - | - | 41 | |
| Federal Employee Benefits Payable [Note 5] | 2,486,557 | 418,203 | 62,856 | 10 | 16 | - | 2,967,642 | |
| Other Liabilities (Notes 6 & 7) | 1,346 | 208 | 7 | 74 | 7 | - | 1,642 | |
| Total With the Public | 2,487,903 | 418,432 | 62,863 | 120 | 30 | - | 2,969,348 | |
| Total Liabilities | $2,487,974 | $418,788 | $62,879 | $234 | $65 | ($188) | $2,969,752 | |
| Net Position | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2023 | |
|---|---|---|---|---|---|---|---|---|
| Unexpended Appropriations-Funds from Other than Dedicated Collections | - | - | - | - | 371 | - | 371 | |
| Cumulative Results of Operations-Funds from Other than Dedicated Collections | (1,468,332) | (351,724) | (10,780) | 196 | 62 | - | (1,830,578) | |
| Total Net Position | ($1,468,332) | ($351,724) | ($10,780) | $196 | $433 | - | ($1,830,207) | |
| Total Liabilities and Net Position | $1,019,642 | $67,064 | $52,099 | $430 | $498 | ($188) | $1,139,545 | |
The accompanying notes are an integral part of the financial statements.
U.S. Office of Personnel Management Consolidating Statement of Net Cost
As of September 30, 2023 (in millions)
| Gross Costs | Retirement Program CSRS | Retirement Program FERS | Retirement Program Total | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Intragovernmental: | With the Public: | $3,023 | $1,579 | $4,602 | $8 | - | $213 | $249 | ($185) | $4,887 |
| Pension Expense [Note 5] | 22,927 | 124,094 | 147,021 | - | - | - | - | - | 147,021 | |
| Post-Retirement Health Benefits [Note 5] | - | - | - | 12,511 | - | - | - | - | 12,511 | |
| Future Life Insurance Benefits [Note 5] | - | - | - | - | 2,063 | - | - | - | 2,063 | |
| Current Benefits and Premiums | - | - | - | 64,219 | 3,764 | - | - | - | 67,983 | |
| Other Gross Costs With the Public | - | - | - | 120 | 7 | 416 | 420 | - | 963 | |
| Total Gross Costs With the Public | 22,927 | 124,094 | 147,021 | 76,850 | 5,834 | 416 | 420 | - | 230,541 | |
| Total Gross Costs | $25,950 | $125,673 | $151,623 | $76,858 | $5,834 | $629 | $669 | ($185) | $235,428 | |
| Earned Revenues | Retirement Program CSRS | Retirement Program FERS | Retirement Program Total | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Intragovernmental: | Employer Contributions | $6,702 | $47,972 | $54,674 | $24,222 | $695 | - | - | ($78) | $79,513 |
| Earnings on Investments | 17,453 | 6,965 | $24,418 | 1,650 | 1,106 | - | - | - | 27,174 | |
| Collections Transferred In | - | - | - | 3 | - | - | - | - | 3 | |
| Other Intragovernmental Earned Revenue | - | 3 | 3 | - | - | 636 | 178 | (107) | 710 | |
| Total Intragovernmental Earned Revenue | 24,155 | 54,940 | 79,095 | 25,875 | 1,801 | 636 | 178 | (185) | 107,400 | |
| With the Public: | Participant Contributions | 234 | 6,271 | 6,505 | 19,555 | 3,310 | - | - | - | 29,370 |
| Other With the Public Earned Revenue | - | - | - | 11 | - | - | - | - | 11 | |
| Total Earned Revenue With the Public | 234 | 6,271 | 6,505 | 19,566 | 3,310 | - | - | - | 29,381 | |
| Total Earned Revenue | $24,389 | $61,211 | $85,600 | $45,441 | $5,111 | $636 | $178 | ($185) | $136,781 | |
| Net Cost | $1,561 | $64,462 | $66,023 | $31,417 | $723 | ($7) | $491 | - | $98,647 | |
| (Gain)/Loss on Pension, ORB, or OPEB Assumption Changes [Note 5] | 61,337 | 93,381 | 154,718 | (44,046) | 1,179 | - | - | - | 111,851 | |
| Net Cost of Operations | $62,898 | $157,843 | $220,741 | ($12,629) | $1,902 | ($7) | $491 | - | $210,498 | |
The accompanying notes are an integral part of the financial statements.
As of September 30, 2022 (in millions)
| Gross Costs | Retirement Program CSRS | Retirement Program FERS | Retirement Program Total | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Intragovernmental: | With the Public: | 2,284.00 | 1,127.00 | 3,411.00 | - | - | $156 | $518 | ($443) | $3,642 |
| Pension Expense [Note 5] | 92,308 | 116,664 | 208,972 | - | - | - | - | - | 208,972 | |
| Post-Retirement Health Benefits [Note 5] | - | - | - | 4,687 | - | - | - | - | 4,687 | |
| Future Life Insurance Benefits [Note 5] | - | - | - | - | 1,188 | - | - | - | 1,188 | |
| Current Benefits and Premiums | - | - | - | 43,876 | 4,142 | - | - | - | 48,018 | |
| Other Gross Costs With the Public | - | - | - | 2,016 | 23 | 417 | 98 | - | 2,554 | |
| Total Gross Costs With the Public | 92,308 | 116,664 | 208,972 | 50,579 | 5,353 | 417 | 98 | - | 265,419 | |
| Total Gross Costs | $94,592 | $117,491 | $212,383 | $50,579 | $5,353 | $573 | $616 | ($443) | $269,061 | |
| Earned Revenues | Retirement Program CSRS | Retirement Program FERS | Retirement Program Total | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | Eliminations | FY 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Intragovernmental: | Employer Contributions | $4,032 | $45,974 | $50,006 | $23,190 | $650 | - | - | ($71) | $73,775 |
| Earnings on Investments | 2,962 | 19,590 | $22,552 | 1,230 | 728 | - | - | - | 24,510 | |
| Collections Transferred In | - | - | - | 35 | - | - | - | - | 35 | |
| Other Intragovernmental Earned Revenue | (11) | (57) | ($68) | (2) | - | 517 | 260 | (372) | 335 | |
| Total Intragovernmental Earned Revenue | 6,983 | 65,507 | 72,490 | 24,453 | 1,378 | 517 | 260 | (443) | 98,655 | |
| With the Public: | Participant Contributions | 287 | 5,469 | 5,756 | 18,296 | 3,199 | - | - | - | 27,251 |
| Other With the Public Earned Revenue | - | - | - | 10 | 3 | - | - | - | 13 | |
| Total Earned Revenue With the Public | 287 | 5,469 | 5,756 | 18,306 | 3,202 | - | - | - | 27,264 | |
| Total Earned Revenue | $7,270 | $70,976 | $78,246 | $42,759 | $4,580 | $517 | $260 | ($443) | $125,919 | |
| Net Cost | $87,332 | $46,815 | $134,137 | $7,820 | $773 | $56 | $356 | - | $143,142 | |
| (Gain)/Loss on Pension, ORB, or OPEB Assumption Changes [Note 5] | 45,524 | 90,733 | 136,257 | 10,656 | 1,330 | - | - | - | 148,243 | |
| Net Cost of Operations | $132,846 | $137,548 | $270,394 | $18,476 | $2,103 | $56 | $356 | - | $291,385 | |
The accompanying notes are an integral part of the financial statements.
U.S. Office of Personnel Management Consolidating Statement of Changes in Net Position
As of September 30, 2023 (in millions)
| Unexpended Appropriations | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | FY 2023 | |
|---|---|---|---|---|---|---|---|
| Beginning Balance | - | - | - | - | $371 | $371 | |
| Budgetary Financing Sources: | Appropriations Received | 49,889 | 15,122 | 43 | - | 198 | 65,252 |
| Other Adjustment | - | (627) | - | - | (3) | (630) | |
| Appropriations Used | (49,889) | (14,495) | (43) | - | (183) | (64,610) | |
| Total Budgetary Financing Sources | - | - | - | - | 12 | 12 | |
| Total Unexpected Appropriations - Ending Balance | - | - | - | - | $383 | $383 | |
| Cumulative Results of Operations | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | FY 2023 | |
|---|---|---|---|---|---|---|---|
| Beginning Balance | ($1,468,332) | ($351,724) | ($10,780) | $196 | $62 | ($1,830,578) | |
| Budgetary Financing Sources: | Appropriations Used | 49,889 | 14,495 | 43 | - | 183 | 64,610 |
| Transfer-In/Out Without Reimbursement | (222) | (87) | (6) | - | 306 | (9) | |
| Other Financing Sources | (3) | - | - | 14 | 20 | 31 | |
| Total Financing Sources | 49,664 | 14,408 | 37 | 14 | 509 | 64,632 | |
| Net Cost of Operations | 220,741 | (12,629) | 1,902 | (7) | 491 | 210,498 | |
| Net Change | (171,077) | 27,037 | (1,865) | 21 | 18 | (145,866) | |
| Cumulative Results of Operations - Ending Balance | ($1,639,409) | ($324,687) | ($12,645) | $217 | $80 | ($1,976,444) | |
| Net Position | ($1,639,409) | ($324,687) | ($12,645) | $217 | $463 | ($1,976,061) | |
The accompanying notes are an integral part of the financial statements.
As of September 30, 2022 (in millions)
| Unexpended Appropriations | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | FY 2022 | |
|---|---|---|---|---|---|---|---|
| Beginning Balance | - | - | - | - | $390 | $390 | |
| Budgetary Financing Sources: | Appropriations Received | 46,380 | 14,330 | 43 | - | 241 | 60,994 |
| Other Adjustment | - | (495) | - | - | 1 | (494) | |
| Appropriations Used | (46,380) | (13,835) | (43) | - | (261) | (60,519) | |
| Total Budgetary Financing Sources | - | - | - | - | (19) | (19) | |
| Total Unexpected Appropriations - Ending Balance | - | - | - | - | $371 | $371 | |
| Cumulative Results of Operations | Retirement Program | Health Benefits Program | Life Insurance Program | Revolving Fund Programs | Salaries and Expenses | FY 2022 | |
|---|---|---|---|---|---|---|---|
| Beginning Balance | ($1,244,319) | ($347,083) | ($8,720) | $246 | $92 | ($1,599,784) | |
| Budgetary Financing Sources: | Appropriations Used | 46,380 | 13,835 | 43 | - | 261 | 60,519 |
| Transfer-In/Out Without Reimbursement | - | - | - | - | 48 | 48 | |
| Other Financing Sources | 1 | - | - | 6 | 17 | 24 | |
| Total Financing Sources | 46,381 | 13,835 | 43 | 6 | 326 | 60,591 | |
| Net Cost of Operations | 270,394 | 18,476 | 2,103 | 56 | 356 | 291,385 | |
| Net Change | (224,013) | (4,641) | (2,060) | (50) | (30) | (230,794) | |
| Cumulative Results of Operations - Ending Balance | ($1,468,332) | ($351,724) | ($10,780) | $196 | $62 | ($1,830,578) | |
| Net Position | ($1,468,332) | ($351,724) | ($10,780) | $196 | $433 | ($1,830,207) | |
The accompanying notes are an integral part of the financial statements.