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GAO-07-341SP 1 (2007-01-22)

handle is hein.gao/gaocrptauut0001 and id is 1 raw text is: Unde rstanding Sinlaifie s and Diffeen es between Accrual and Cash Deficits How Did the Accrual and Cash Measures Change in Fiscal Year 2006? The following pages update selected information in Ulnderstan;ding Similari.ties and Df ' S l. :'t and should be read fhjfrences between Accrual and Cash Deficits (,.3At).-t,2- I';, .... a in conjunction with that document. Importantly. emphasis should not be placed on the precise numbers for either a single year accrual deficit or the change from year to year. Furthermore, for the 10t consecutive year, the government was unable to demonstrate the reliability of significant portions of the 2006 Financial Report of the United States Government, hereafter referred to as the Financial Report, from which the data in this update were taken. Both the unified budget deficit-sometimes called the cash deficit-and the net operating cost-sometimes called the accrual deficit-declined in 2006, but the accrual deficit declined more than the cash deficit (see fig. 1). The cash deficit declined by about $70 billion while the accrual deficit declined by over $300 billion. These changes are explained in the following pages. Figure 1: Cash and Accrual Surpluses/Deficits (Fiscal Years 2001-2006) 200 127 0 \\\ \x\N-\\\1\\ 15 --200 \\\N -24, -400 -6-,. 158' •1 _...I. _ I.....-16......... . ---00 ............. --600 - 450 -800 ~-668 - -616 16 - -1,000 2001 2002 2003 2004 2005 2006 Cash s rPIts/defict Accrual sutplus/defict Source: Treasury. Ferrtore nfon.-lttioo reg.fding the renabiJty offederalmeancia data, see GAOs auditor repot in Fiwancir! Rep' ofthe U nited Stites Go, at nt (Wasimgtot, D.- Dec 15, 2006) anid page 1o of C it . These clanges do not represent a change m the ftmdamental divers of the long-term Tiscal outlook. For more information on the drivers of the long- tern rNseal outlook, see GAO, '17Te ationIs Lona-Te'm ',scarl Ontook. Setoteber 2006 Updatel - 1C' . k (Washington, D.C.. Sept. 15 2006). A, ra, and 'i sh Deftcils, FPisca Yar 2006

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