oversight

Final Independent Auditors' Report - Fiscal Year 2016 Closing Package Financial Statements

Published by the Department of Education, Office of Inspector General on 2016-11-16.

Below is a raw (and likely hideous) rendition of the original report. (PDF)

                         UNITED STATES DEPARTMENT OF EDUCATION
                                        OFFICE OF INSPECTOR GENERAL




November 16, 2016


TO:          Tim Soltis
             Deputy Chief Financial Officer Delegated the Duties of Chief Financial Officer

FROM:        Patrick J. Howard /s/
             Assistant Inspector General for Audit

SUBJECT:     FINAL INDEPENDENT AUDITORS’ REPORT
             Fiscal Year 2016 Closing Package Financial Statements
             U.S. Department of Education
             ED-OIG/A17Q0003

Attached is the subject final report on the results of the audit of the closing package financial
statements of the Department of Education for fiscal year 2016. The report should be read in
conjunction with the financial statements and notes to fully understand the context of the
information contained therein.

You have been designated as the action official responsible for the resolution of the findings
and recommendations in the report. The auditors have discussed the findings with you or
appropriate members of your staff at various times throughout the audit.

Please provide us with your final responses to each recommendation within 30 days of the date
of report issuance indicating what corrective actions you have taken or plan, and related
milestones. The response should be submitted through the Department’s automated tracking
system for audit follow-up.

In accordance with Office of Management and Budget Circular A-50, we will keep the report on
the OIG list of unresolved audits until all open issues have been resolved. Any report that
remains unresolved after 180 days from the date of issuance will be shown as overdue in the
OIG’s Semiannual Report to Congress.

We appreciate the cooperation given CliftonLarsonAllen LLP and the OIG during the audit.
Should you have any questions concerning the report, please contact Greg Spencer or me at
(202) 245-6015 or (202) 245-6949, respectively.

Attachment

Electronic Distribution List:
Gary Wood, OCFO


                               400 MARYLAND AVENUE, S.W., WASHINGTON, DC 20202-1510

               Promoting the efficiency, effectiveness, and integrity of the Department’s programs and operations.
                                                                      CliftonLarsonAllen LLP

                                                                      www.cliftonlarsonallen.com




                         INDEPENDENT AUDITORS’ REPORT
                    ON CLOSING PACKAGE FINANCIAL STATEMENTS

Inspector General
United States Department of Education

Secretary
United States Department of Education

Report on the Closing Package Financial Statements

We have audited the accompanying Closing Package Financial Statement Report (herein
referred to as the closing package financial statements) of the United States Department of
Education (the Department), which comprises the:
    • Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS)
        Reconciliation Report – Reclassified Balance Sheet as of September 30, 2016
    • Related GTAS Reconciliation Reports – Reclassified Statement of Net Cost and
        Reclassified Statement of Changes in Net Position, for the year then ended
    • Notes to the financial statements, which include:
           o the GTAS Closing Package Lines Loaded Report
           o the Financial Report (FR) Notes Report (except for the information in the FR
               Notes Report entitled “2015-September”, “Prior Year”, “PY”, “Previously Rptd”,
               “Line Item Changes”, and “Threshold”)
           o the accompanying Additional Note No. 1 (except for the information as of and for
               the year ended September 30, 2015)

Management’s Responsibility for the Closing Package Financial Statements

The Department’s management is responsible for the preparation and fair presentation of these
closing package financial statements in accordance with accounting principles generally
accepted in the United States of America (U.S.). This includes the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of the closing
package financial statements that are free from material misstatement, whether due to fraud or
error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these closing package financial statements based
on our audit. We conducted our audit in accordance with auditing standards generally accepted
in the U.S.; the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States; and Office of Management
and Budget (OMB) Bulletin No. 15-02, Audit Requirements for Federal Financial Statements
(OMB Bulletin 15-02). Those standards and OMB Bulletin 15-02 require that we plan and
perform the audit to obtain reasonable assurance about whether the closing package financial
statements are free from material misstatement.
                    INDEPENDENT AUDITORS’ REPORT ON
             CLOSING PACKAGE FINANCIAL STATEMENTS (Continued)

An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the closing package financial statements. The procedures selected depend on the
auditors’ judgment, including the assessment of the risk of material misstatement of the closing
package financial statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal control relevant to the entity’s preparation and fair presentation of
the closing package financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit
also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as
evaluating the overall presentation of the closing package financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.

Opinion on the Closing Package Financial Statements

In our opinion, the closing package financial statements referred to above present fairly, in all
material respects, the financial position of the United States Department of Education as of
September 30, 2016, and its net costs and changes in net position for the year then ended in
accordance with accounting principles generally accepted in the U.S.

Emphasis of Matter
As discussed in Additional Note No. 1 to the closing package financial statements, the
accompanying closing package financial statements were prepared to comply with the
requirements of the U.S. Department of the Treasury’s Treasury Financial Manual (TFM)
Volume I, Part 2, Chapter 4700 and Supplemental Guidance to TFM Volume I, Part 2, Chapter
4700 dated October 17, 2016 (Supplemental Guidance) for the purpose of providing financial
information to the U.S. Department of the Treasury (Treasury) and the U.S. Government
Accountability Office (GAO) to use in preparing and auditing the Financial Report of the U.S.
Government, and are not intended to be a complete presentation of the consolidated balance
sheet of the Department as of September 30, 2016, and the related consolidated statements of
net costs and changes in net position, and the combined statements of budgetary resources
(hereinafter referred to as “general-purpose financial statements”) for the year then ended. Our
opinion is not modified with respect to this matter.

Other Matters

General-Purpose Financial Statements
We have audited, in accordance with auditing standards generally accepted in the U.S., the
standards applicable to financial audits contained in Government Auditing Standards and OMB
Bulletin 15-02, the general-purpose financial statements of the Department as of and for the
years ended September 30, 2016 and 2015, and our report thereon, dated November 14, 2016,
expressed an unmodified opinion on those financial statements.

Required Supplementary Information and Required Supplementary Stewardship Information
Accounting principles generally accepted in the U.S. require that the information entitled Text
Data of the FR Notes Report (except for the information as of and for the year ended September
30, 2015), and the information in Other Data Report Nos. 8 and 16 (except for the information in
the Other Text Data of Other Data Report Nos. 8 and 16, and the information in the Other Data
                    INDEPENDENT AUDITORS’ REPORT ON
             CLOSING PACKAGE FINANCIAL STATEMENTS (Continued)

Report No. 8 entitled “Threshold”), which are discussed below, be presented to supplement the
closing package financial statements. Such information, although not a part of the closing
package financial statements, is required by Federal Accounting Standards Advisory Board
(FASAB), who considers it to be an essential part of financial reporting for placing the closing
package financial statements in an appropriate operational, economic, or historical context. We
have applied certain limited procedures to this required supplementary information and required
supplementary stewardship information in accordance with auditing standards generally
accepted in the U.S., which consisted of inquiries of management about the methods of
preparing the information and comparing the information for consistency with management’s
responses to our inquiries, the closing package financial statements, and other knowledge we
obtained during our audit of the closing package financial statements. We do not express an
opinion or provide any assurance on this information because the limited procedures do not
provide us with sufficient evidence to express an opinion or provide any assurance.

The Department’s management has omitted Management’s Discussion and Analysis that
accounting principles generally accepted in the U.S. require to be presented to supplement the
closing package financial statements. Such missing information, although not a part of the
closing package financial statements, is required by FASAB, who considers it to be an essential
part of financial reporting for placing the closing package financial statements in an appropriate
operational, economic, or historical context. Our opinion on the closing package financial
statements is not affected by this missing information.

Other Information
Our audit was conducted for the purpose of forming an opinion on the closing package financial
statements as a whole. The information other than that described in the first paragraph and the
paragraph labeled Required Supplementary Information and Required Supplementary
Stewardship Information are presented for purposes of additional analysis in accordance with
TFM Chapter 4700 and Supplemental Guidance are presented for purposes of additional
analysis in accordance with TFM Chapter 4700 and the Supplemental Guidance and are not a
required part of the closing package financial statements. This information has not been
subjected to the auditing procedures applied in the audit of the closing package financial
statements and, accordingly, we do not express an opinion or provide any assurance on it.

Restriction on Use of the Report on the Closing Package Financial Statements

This report is intended solely for the information and use of the Department’s management, the
U.S. Department of the Treasury, OMB, and GAO in connection with the preparation and audit
of the Financial Report of the U.S. Government and is not intended to be and should not be
used by anyone other than these specified parties.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards and OMB Bulletin 15-02, we have also
issued a report dated November 14, 2016 that discusses our consideration of the Department’s
internal control over financial reporting and the results of our tests of its compliance with certain
provisions of laws, regulations, contracts, and grant agreements and other matters that are
required to be reported under Government Auditing Standards. This report is an integral part of
an audit performed in accordance with Government Auditing Standards and OMB Bulletin 15-02
in considering the Department’s internal control and compliance, and should be read in
                    INDEPENDENT AUDITORS’ REPORT ON
             CLOSING PACKAGE FINANCIAL STATEMENTS (Continued)

conjunction with this report in considering the results of our audits of the closing package
financial statements.

We considered the Department’s internal control over financial reporting to determine the audit
procedures that are appropriate in the circumstances for the purpose of expressing our opinion
on the general purpose financial statements and was not designed to identify all deficiencies in
internal control that might be material weaknesses or significant deficiencies and therefore,
material weaknesses or significant deficiencies may exist that were not identified.

A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in their normal course of performing their assigned functions, to
prevent, or detect and correct, misstatements on a timely basis. A material weakness is a
deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable
possibility that a material misstatement of the entity’s financial statements will not be prevented,
or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a
combination of deficiencies, in internal control that is less severe than a material weakness yet
important enough to merit the attention by those charged with governance.

Our audit of the general purpose financial statements of the Department, as of and for the year
ended September 30, 2016, disclosed two significant deficiencies in internal control over
financial reporting, described below, that are required to be reported in accordance with
Government Auditing Standards and OMB Bulletin 15-02.

             Controls over the Department’s Modeling Activities Need Improvement

       The Department maintains various models that apply mathematical techniques or
       statistical methods to historical student loan event data to estimate future loan
       performance and calculate the cost or value of the various student loan programs
       on a present value basis. We identified deficiencies in the controls over the
       Department’s processes for model design and development, risk assessment,
       model operation and validation, and oversight. The Department does not have a
       comprehensive framework for risk management and fully developed internal
       controls for its modeling activities, which could impact the reliability of its
       estimates used for financial reporting, budgetary formulation and management
       analysis.

         Department and Federal Student Aid Management Need to Mitigate Persistent
                        Information Technology Control Deficiencies

       The Department oversees a large portfolio of Department and contractor-owned
       business systems and applications that requires an effective and comprehensive
       information system security program. Prior audits have identified numerous
       control deficiencies at the Department, Federal Student Aid, and application
       level. While the Department has made progress in some areas to address these
       issues in recent years, we continued to identify control deficiencies in the
       Department’s information security program relating to policies and procedures,
       compliance monitoring, personnel management, and security incident response
       as well as the management of various application level security, configuration
       and access controls. These deficiencies increase the risk of unauthorized access
       to the Department’s systems used to capture, process, and report financial
                        INDEPENDENT AUDITORS’ REPORT ON
                 CLOSING PACKAGE FINANCIAL STATEMENTS (Continued)

           transactions and balances, affecting the reliability and security of its data and
           information.

As part of obtaining reasonable assurance about whether the Department’s financial statements
are free from material misstatement, we performed tests of its compliance with certain
provisions of laws, regulations, contracts, and grant agreements. However, providing an opinion
on compliance was not an objective of our audit, and accordingly, we do not express such an
opinion. The results of our tests disclosed one instance of noncompliance which is required to
be reported in accordance with Government Auditing Standards and OMB Bulletin No. 15-02.

             Noncompliance with the Timing Requirement for Referring Delinquent Student
                                      Loan Debts to Treasury

           In 2014, Federal law 1 was amended 2 to require agencies to notify the Secretary of
           the Treasury of valid, delinquent nontax debts that are over 120 days delinquent –
           60 days earlier than the previous 180 days requirement – for the purpose of
           administrative offset (i.e. collection through the reduction of future Federal
           payments). Due to the number of entities and systems involved in handling
           student loan debts, FSA is not yet capable of meeting this accelerated timeline.
           Accordingly, as of September 30, 2016, the Department and FSA are not in
           compliance with the new timing requirement for referring delinquent student loan
           debts to Treasury.

Report on Internal Control over Financial Reporting Specific to the Closing Package
Financial Statements

In planning and performing our audit of the closing package financial statements as of and for
the year ended September 30, 2016, we also considered the Department’s internal control over
financial reporting (internal control) to determine the audit procedures that are appropriate in the
circumstances for the purpose of expressing our opinion on the closing package financial
statements, but not for the purpose of expressing an opinion of the effectiveness of the
Department’s internal control. Accordingly, we do not express an opinion on the effectiveness of
the Department’s internal control.

Our audit of the closing package financial statements of the Department, as of and for the year
ended September 30, 2016, disclosed one material weakness in internal control over financial
reporting, described below, that is required to be reported in accordance with Government
Auditing Standards and OMB Bulletin 15-02.

            Controls over the Department’s Closing Package Processes Need Improvement

           In FY2015, Treasury introduced the Government-wide Treasury Account Symbol
           Adjusted Trial Balance System (GTAS) to facilitate a more efficient process for
           compiling the Financial Report of the U.S. Government and managing intra-
           governmental elimination entries. This new system requires federal agencies to
           upload trial balance data derived from their core financial management systems
           and requires many agencies to adjust their accounting processes and provide

1
    31 U.S. Code Section 3716(c)(6)
    Public Law 113-101 (DATA Act) Section 5
2
                    INDEPENDENT AUDITORS’ REPORT ON
             CLOSING PACKAGE FINANCIAL STATEMENTS (Continued)

       training to their staff to accommodate the specific requirements of this new
       system.

       The Department identified transactions valued at over $30 billion that were not
       properly recorded in its core financial management system which resulted in
       misstatements of more than $600 million (net) to certain account balances
       reported in GTAS, as well as the corresponding Reclassified Financial
       Statements. The Department did not have a sufficient process in place to validate
       the Reclassified Financial Statements and properly reconcile the data from GTAS
       to the agency’s audited general purpose financial statements. Further, the GTAS
       system deployed by Treasury and utilized by the Department did not have a
       specific edit check in place to detect the errors.

       We recommend that the Department:

       1. Review GTAS and collaborate with Treasury to ensure all necessary edit
          checks are implemented and functioning as intended.

       2. Develop a complete desk procedure manual with the necessary control
          procedures required to ensure the accuracy of the monthly trial balance
          reports submitted to Treasury, the resulting Reclassified Financial Statements,
          and the reconciliation between these statements and the Department’s
          general purpose financial statements.

Report on Compliance Specific to the Closing Package Financial Statements

As part of obtaining reasonable assurance about whether the Department’s closing package
financial statements are free from material misstatement, we also performed tests of its
compliance with certain provisions of TFM Chapter 4700 and the Supplemental Guidance,
noncompliance with which could have a material effect on the determination of closing package
financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit of the closing package financial statements, and
accordingly, we do not express such an opinion. The results of our tests of compliance with
TFM Chapter 4700 and the Supplemental Guidance disclosed no instances of noncompliance
or other matters that are required to be reported in accordance with Government Auditing
Standards.

Management’s Response to Findings

Management’s response to the findings identified in our report is presented in Exhibit A. We did
not audit the Department’s response and, accordingly, we express no opinion on it.

Purpose of the Other Reporting Required by Government Auditing Standards

The purpose of the communication provided in the Other Reporting Required by Government
Auditing Standards section is solely to describe the scope of our testing of internal control over
financial reporting and compliance and the results of that testing, and not to provide an opinion
on the effectiveness of the Department’s internal control or on compliance. This communication
is an integral part of an audit performed in accordance with Government Auditing Standards in
                   INDEPENDENT AUDITORS’ REPORT ON
            CLOSING PACKAGE FINANCIAL STATEMENTS (Continued)

considering internal control and compliance. Accordingly, this communication is not suitable for
any other purpose.




CliftonLarsonAllen LLP

Arlington, Virginia
November 16, 2016
        INDEPENDENT AUDITORS' REPORT ON 

 CLOSING PACKAGE FINANCIAL STATEMENTS (Continued)
                    EXHIBIT A 





                           UNlTIID 5TATES DCrARTho{[~ or EDUCATION




!\'lliMORA'IfDUM

TO: 	                Patrid J. Howard
                     Assistant ln:Jpeclor General for Audit

FROM: 	              Tim Soltis       ~;--~....            &.c:-
                     Dclcgatcd the Duties of Chief flimmci al Offk1:r

SUBJECT : 	          DRAFT AUVl r .lilil'OlUS
                     l'iscaJ Years 2016 and 21)15 Closin!! Pacluige Fimmcial Swtcmc:nts
                     L .S. Department of Educa1ion 

                     ED-OlGIA17Q0003 


Plea.-;c conve}· our sincere thanks and appreciation to e•·etyc·ne on )'OtJc s:a:lf v,ho
worked dili~t:lllly on Lhi::J finuncinl stnt[:mcn1 Eludit_ The Dcpartmcn1 T\..""'' icwcd the
draft fiscal Yerus 201611.1Xl. 2015 CJusit•l! P<:dw.gc: Fiu;1.1l~ial Sl.<I~Hit:lll.s Auilil
ReporL. We wncur and agree Viith tbc independent Auditors' Report, except tor the
finding, Controls over the Ucpartmcnt's t:lo;ing J'ackaf!.e Processes Need
Improvement which the D~lma~t belie~·cs should be cla~ifi.cd as a significant
deficiency as opf')Osed to a material ......-ellkn~. We coomu v.il.h the dl:.lLRi.ls of the
finding and recommend!ltions.

1\gBin, please oon \•ey our nppre~.:inlion to t:vc:ryone on your ~tuff ·..,·hose dfort~
pcm1ittcd tbc lJc))6rtmcot to complete lhe audit within the c~t~bli:sh~d tirne:i'arne.

Please contact Gary Wood, Directnr, Financial Matugement Operations, at (202)
245-8118 with ~my qucsticns or oonlfficnts.




                                        ~'ill   12th St. S.'ll'.. WASI !11\'•:ilON, DC 2JJ:!!J2
                                                                \•.,.........t:SlgQ't' 


Tht:- DcJ:.olrtitl cnt of Educ:Jtion~$ ~ j; to promote &iud,•nt .xlUcl '('mc.v;t OTJid ~.,R fjc~J:? /tt7 sklf:r.t/ ((m~~.ti.tn.~l~
                                  ~~~ fo"'!t!rinS a.o.duc:Jtion.sl e't.:'f:'tAJtmet:" .snu' t!IburillSef.lami.:«.L~
                                                                           U.S. Department of Treasury Bureau of the Fiscal Service
                                                                                                    GTAS
                                                                                           Reconciliation Report
                                                                                         Reclassified Balance Sheet

Fiscal Period:    2016, 12 - September
Manual Adjustment
Status:           Certified

                                                                                                       FR ENTITY: 9100
                                                                                                                                      ATB Amount    Manual Adjustment      Adjusted Amount
1                  Assets
2                  Non-federal
2.1                Cash and other monetary assets                                                                                1,196,795,610.18                            1,196,795,610.18
2.2                Accounts and taxes receivable, net                                                                              136,183,732.89                              136,183,732.89
2.3                Loans receivable, net                                                                                     1,076,578,652,261.48                        1,076,578,652,261.48
2.5                Property, plant, and equipment, net                                                                              24,294,098.30                               24,294,098.30
2.8                Other assets                                                                                                      5,205,837.07                                5,205,837.07
2.9                   Total non-federal assets                                                                               1,077,941,131,539.92                        1,077,941,131,539.92
3                  Federal
3.1                Fund balance with Treasury (RC 40)/1                                                                         96,764,161,081.84                           96,764,161,081.84
3.3                Accounts receivable (RC 22)/1                                                                                     2,255,580.71                                2,255,580.71
3.10               Advances to others and prepayments (RC 23)/1                                                                    102,434,301.11                              102,434,301.11
3.14                  Total federal assets                                                                                      96,868,850,963.66                           96,868,850,963.66
4                     Total assets                                                                                           1,174,809,982,503.58                        1,174,809,982,503.58
5                  Liabilities:
6                  Non-federal
6.1                Accounts payable                                                                                             3,965,788,164.32                            3,965,788,164.32
6.2                Federal debt securities held by the public and accrued interest                                                   -811,282.29                                 -811,282.29
6.3                Federal employee and veteran benefits payable                                                                    1,216,726.75                                1,216,726.75
6.6                Loan guarantee liabilities                                                                                   1,633,032,041.90                            1,633,032,041.90
6.9                Other liabilities                                                                                            4,053,230,649.16         30,413,437.16      4,083,644,086.32
6.10                  Total non-federal liabilities                                                                             9,652,456,299.84         30,413,437.16      9,682,869,737.00
7                  Federal
7.1                Accounts payable (RC 22)/1                                                                                          843,779.93                                  843,779.93
7.5                Interest payable - loans and not otherwise classified (RC 04)/1                                                  12,628,915.98                               12,628,915.98
7.6                Loans payable (RC 17)/1                                                                                   1,127,811,750,147.40                        1,127,811,750,147.40
7.8                Benefit program contributions payable (RC 21)/1                                                                 132,275,368.27                              132,275,368.27
7.9                Advances from others and deferred credits (RC 23)/1                                                              11,141,254.76                               11,141,254.76
7.10               Liability to the General Fund for custodial and other non-entity assets (RC 46)/1                             4,361,835,189.22       -43,455,307.48       4,318,379,881.74
7.14                  Total federal liabilities                                                                              1,132,330,474,655.56       -43,455,307.48   1,132,287,019,348.08
8                     Total liabilities                                                                                      1,141,982,930,955.40       -13,041,870.32   1,141,969,889,085.08
9                  Net position:
9.1                Net Position - funds from dedicated collections                                                                   1,133,376.44                                1,133,376.44
9.2                Net Position - funds other than those from dedicated collections                                             33,474,015,245.76      -635,055,203.70      32,838,960,042.06
10                    Total net position                                                                                        33,475,148,622.20      -635,055,203.70      32,840,093,418.50
11                    Total liabilities and net position                                                                     1,175,458,079,577.60      -648,097,074.02   1,174,809,982,503.58



11/16/2016 06:29:10 AM                                                                                                                                                                SBOYD003
                                                                          U.S. Department of Treasury Bureau of the Fiscal Service
                                                                                                   GTAS
                                                                                           Reconciliation Report
                                                                                     Reclassified Statement of Net Cost

Fiscal Period:    2016, 12 - September
Manual Adjustment
Status:           Certified

                                                                                              FR ENTITY: 9100
                                                                                                                                     ATB Amount    Manual Adjustment    Adjusted Amount
1                  Gross cost
2                  Non-federal gross cost                                                                                     101,948,871,370.27                        101,948,871,370.27
6                    Total non-federal gross cost                                                                             101,948,871,370.27                        101,948,871,370.27
7                  Federal gross cost
7.1                Benefit program costs (RC 26) /2                                                                               341,159,410.54                            341,159,410.54
7.2                Imputed costs (RC 25) /2                                                                                         9,018,393.62                              9,018,393.62
7.3                Buy/sell cost (RC24) /2                                                                                        236,218,888.44       635,055,203.70       871,274,092.14
7.7                Borrowing and other interest expense (RC05) /2                                                              35,550,554,496.35                         35,550,554,496.35
7.8                Borrowing losses (RC 06) /2                                                                                        956,365.72                                956,365.72
8                    Total federal gross cost                                                                                  36,137,907,554.67       635,055,203.70    36,772,962,758.37
9                    Department total gross cost                                                                              138,086,778,924.94       635,055,203.70   138,721,834,128.64
10                 Earned revenue
11                 Non-federal earned revenue                                                                                  29,919,025,770.05                         29,919,025,770.05
12                 Federal earned revenue
12.2               Buy/sell revenue (exchange) (RC 24) /2                                                                           9,425,399.18                              9,425,399.18
12.4               Borrowing and other interest revenue (exchange) (RC 05) /2                                                   4,471,711,137.09                          4,471,711,137.09
13                   Total federal earned revenue                                                                               4,481,136,536.27                          4,481,136,536.27
14                   Department total earned revenue                                                                           34,400,162,306.32                         34,400,162,306.32
15                   Net cost of operations                                                                                   103,686,616,618.62       635,055,203.70   104,321,671,822.32



11/16/2016 06:29:10 AM                                                                                                                                                             SBOYD003
                                                                         U.S. Department of Treasury Bureau of the Fiscal Service
                                                                                                  GTAS
                                                                                           Reconciliation Report
                                                                             Reclassified Statement of Changes in Net Position

Fiscal Period:    2016, 12 - September
Manual Adjustment
Status:           Certified

                                                                                                    FR ENTITY: 9100
                                                                                                                                    ATB Amount     Manual Adjustment     Adjusted Amount

1                  Net position, beginning of period                                                                         54,804,835,385.11                           54,804,835,385.11
2                  Non-federal prior-period adjustments:
3                  Federal prior-period adjustments
4                    Net position, beginning of period - adjusted                                                            54,804,835,385.11                           54,804,835,385.11
5                  Non-federal non-exchange revenue:
5.7                Other taxes and receipts                                                                                         9,754,954.93                              9,754,954.93
5.9                   Total non-federal non-exchange revenue                                                                        9,754,954.93                              9,754,954.93
6                  Federal non-exchange revenue:
7                  Budgetary financing sources:
7.1                Appropriations received as adjusted (rescissions and other adjustments) (RC 41) /1                        87,389,842,732.76                           87,389,842,732.76
7.2                Appropriations used (RC 39)                                                                               89,076,690,064.74                           89,076,690,064.74
7.3                Appropriations expended (RC 38) / 1                                                                       89,076,690,064.74                           89,076,690,064.74
7.13               Other budgetary financing sources (RC 29) /1, 8                                                              771,035,439.72          72,909,289.00       843,944,728.72
7.18                  Total budgetary financing sources                                                                      88,160,878,172.48          72,909,289.00    88,233,787,461.48
8                  Other financing sources:
8.3                Imputed financing sources (RC 25) /1                                                                          81,927,683.06         -72,909,289.00         9,018,394.06
8.4                Non-entity collections transferred to the General Fund (RC 44)                                            11,153,921,658.37                           11,153,921,658.37
8.5                Accrual for non-entity amounts to be collected and transferred to the General Fund (RC 48)                -5,234,365,572.61                           -5,234,365,572.61
8.7                Other non-budgetary financing sources (RC 29) /1, 9                                                           23,925,131.00                               23,925,131.00
8.11                  Total other financing sources                                                                          -5,813,703,271.70         -72,909,289.00    -5,886,612,560.70
9                    Net cost of operations (+/-)                                                                           103,686,616,618.62         635,055,203.70   104,321,671,822.32
10                   Net position, end of period                                                                             33,475,148,622.20        -635,055,203.70    32,840,093,418.50



11/16/2016 06:29:01 AM                                                                                                                                                             SBOYD003
                                                                                                                                                                              11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 01            Federal Reserve Earnings, Subsequent Events, and Other Pertinent Information                                 Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100        Department of Education                                                                                      Agency Notes:    N/A

  Status: Complete                            The accompanying notes are an integral part of these financial statements.           I = Inactive Line

Tab: Other Notes Info.

       Section: C             Section Name: Related Parties-External to the Reporting Entity for        No Data Flag: YES         Line Attributes: Dollars
                                            the Financial Report                                                                Rounding Method: Millions             Decimal: Zero
Line Status Line Description          NB        2016 - SEPTEMBER             2015 - SEPTEMBER                 Previously Rptd    Line Item Changes
 1              Related party        Debit
                receivables
 2              Related party        Credit
                payables
 3              Related party        Debit
                operating revenue
 4              Related party net    Credit
                cost of operations
 5              Related party        Debit
                economic
                dependency
                transactions
 6              Investments in       Debit
                related parties
 7              Related party        Debit
                leases




                                                                                                           -1-
                                                                                                                                                                       11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 01         Federal Reserve Earnings, Subsequent Events, and Other Pertinent Information                              Fiscal Year: 2016      Period: SEPTEMBER
    Entity: 9100       Department of Education                                                                                  Agency Notes:    N/A

 Status: Complete                         The accompanying notes are an integral part of these financial statements.         I = Inactive Line

Tab: Text Data                        No Data Flag: YES
Line               Question                                                                                         Answer
1                  Describe any significant events or transactions that occurred after the date of the Balance
                   Sheet but before the issuance of agency?s audited financial statements that have a material
                   effect on the financial statements and, therefore, require adjustments or disclosure in the
                   statements.
2                  Describe any departures from U.S. GAAP. (SFFAS No. 7.par.64)
3                  When applying the general rule of the Statements of Federal Financial Accounting Standards
                   (SFFAS) No. 7, par.
                   48, describe the specific potential accruals that are not made and the practical and inherent
                   limitations affecting the
                   accrual of taxes and duties. (SFFAS No. 7.par.64)
4                  Describe any change in accounting if a collecting entity adopts accounting standards that
                   embody a fuller
                   application of accrual accounting concepts that differ from that prescribed by SFFAS No. 7,
                   par. 48. (SFFAS No. 7.par.64)
5                  Describe any additional significant accounting policies specific to the agency not included in
                   GFRS Module GF006 FR Notes. (SFFAS No. 32, par. 29 & 30)
6                  Provide any other relevant information pertaining to the Federal Reserve earnings. (SFFAS
                   No. 32, par. 29 & 30
7                  Describe the nature of the related party relationship and transactions pertaining to the
                   amount in the "Other Notes
                   Info" tab, "Related party receivables" line.
8                  Describe the nature of the related party relationship and transactions pertaining to the
                   amount in the "Other Notes
                   Info" tab, "Related party payables" line.
9                  Describe the "Other Notes Info" tab, "Related party operating revenue" transactions along
                   with the related party
                   relationship and include transactions with zero or nominal balances, guarantees, and other
                   terms. Also, describe
                   changes in related party terms.
10                 Describe the "Other Notes Info" tab, "Related party net cost of operations" transactions along
                   with the related party
                   relationship and include transactions with zero or nominal balances, guarantees, and other
                   terms. Also, describe
                   changes in related party terms.
11                 Describe related party economic dependency (that is, major customers, suppliers,
                   franchisors, franchisees,
                   distributors, general agents, borrowers, and lenders) relationships and transactions included
                   in the "Other Notes
                   Info" tab, "Related party economic dependency transactions" section.
12                 Provide details on the investments in related parties.
13                 Provide details on related party leases
14                 Describe control relationships with entities under common ownership, management control,



                                                                                                           -2-
                                                                                                                                                                      11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 01        Federal Reserve Earnings, Subsequent Events, and Other Pertinent Information                              Fiscal Year: 2016      Period: SEPTEMBER
  Entity: 9100       Department of Education                                                                                   Agency Notes:    N/A

 Status: Complete                        The accompanying notes are an integral part of these financial statements.         I = Inactive Line

Tab: Text Data
Line             Question                                                                                          Answer
                 and conservatorship if
                 the operating results or financial position could be significantly impacted as a result of the
                 relationship. Include
                 control relationships with and without transactions.
15               Provide any other useful information on related parties.




                                                                                                             -3-
                                                                                                                                                                                           11/16/2016 06:26:40

                                                                                  U.S. Department of the Treasury
                                                                                    Bureau of the Fiscal Service
                                                                              Governmentwide Financial Report System
                                                                                     GF006 - FR Notes Report

     Note: 02           Cash and Other Monetary Assets                                                                               Fiscal Year: 2016               Period: SEPTEMBER
   Entity: 9100         Department of Education                                                                                      Agency Notes:        4

  Status: Complete                         The accompanying notes are an integral part of these financial statements.             I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                         NB    Account     2016 - SEPTEMBER       2015 - SEPTEMBER
                                                                                 Type
Cash and other monetary assets                                            D        A                     1,197                   1,561
                                                                              Variance:                      0                       0           Rounding Method: Millions            Decimal: Zero
Line Status Line Description            2016 - SEPTEMBER            2015 - SEPTEMBER               Previously Rptd           Line Item Changes
 3           Other cash-not
             restricted
 4           Other cash-restricted                         1,197                       1,561                       1,561                              0
 7           Foreign currency
             Total                                          1,197                       1,561                        1,561                            0
Threshold

 Line Description                                              Question                                                           Answer
 Line Item Notes - Other cash-restricted (2016 -               Please provide explanations for any amounts that have              Funds Held by the Public were adjusted based on updated collection rates
 SEPTEMBER)                                                    changed by 10% or more and or greater than 500,000 between         used to compute the allowance for loss for the Federal Student Loan
                                                               the current fiscal year and prior fiscal year. (Unaudited)         Reserve Fund, and the operations of the Fund, resulted in a reduction to
                                                                                                                                  Cash and Other Monetary Assets of $364 million.




                                                                                                      -4-
                                                                                                                                                                          11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 02             Cash and Other Monetary Assets                                                                          Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100         Department of Education                                                                                 Agency Notes:    4

  Status: Complete                             The accompanying notes are an integral part of these financial statements.      I = Inactive Line

Tab: Other Notes Info.

       Section: C              Section Name: Analysis of Cash Held Outside Treasury                    No Data Flag: YES      Line Attributes: Dollars
                                                                                                                            Rounding Method: Millions             Decimal: Zero
Line Status Line Description           NB        2016 - SEPTEMBER             2015 - SEPTEMBER
 1              Total Cash Held       Credit
                Outside Treasury
                (reported to Treas
                central account
                thru the statement
                of Transac/ Stat of
                Accountbilit
 2                                    Credit
 3                                    Credit
 4                                    Credit
 5                                    Credit
 6                                    Credit
 7              Total cash reported    N/A
                in Note 2.




                                                                                                          -5-
                                                                                                                                                                                                 11/16/2016 06:26:40

                                                                                        U.S. Department of the Treasury
                                                                                          Bureau of the Fiscal Service
                                                                                    Governmentwide Financial Report System
                                                                                           GF006 - FR Notes Report

     Note: 02          Cash and Other Monetary Assets                                                                                   Fiscal Year: 2016                  Period: SEPTEMBER
    Entity: 9100       Department of Education                                                                                          Agency Notes:       4

 Status: Complete                          The accompanying notes are an integral part of these financial statements.                I = Inactive Line

Tab: Text Data
Line               Question                                                                                           Answer
1                  Describe the nature of the amount in the line item "Other cash-not restricted."
3                  If the cash is restricted because it is non-entity, state the entity for which the cash is being   Cash and Other Monetary Assets consist of assets of FFEL Guaranty Agency (GA)
                   held.                                                                                              Federal Funds, which are held by the GAs, but owned by the federal government.
4                  Is the reported restricted cash being held in a financial institution? If yes, is it a Treasury-   The assets of Federal Funds held by the GAs consist of cash, short-term Treasury
                   designated bank?                                                                                   securities, plant, property, and equipment, and other miscellaneous assets. Cash in
                                                                                                                      Federal Funds is required to be held in interest bearing accounts with no designation of
                                                                                                                      a specific financial institution.

5                  If the agency has restricted cash, is the restricted cash invested? If yes, is it invested in a
                   Fiscal Service security, agency security, and/or non-federal security?
6                  Describe the nature of the amount in the line item "Foreign currency."
7                  Disclose any restrictions on the use (for example, by law, regulation, or agreement) of the
                   amount in the line item "Foreign Currency."
8                  Disclose the method of exchange rate used on the financial statement date (Treasury
                   exchange rate or prevailing market rate).
9                  Provide additional details describing the nature and cause of reconciling items reported in
                   Section C, lines 2 through 6.
10                 Provide any other relevant information pertaining to this note. At a minimum, describe briefly     Cash and Other Monetary Assets consist of GA reserves that represent the federal
                   the significant accounting policies pertaining to this note.                                       government's interest in the net Federal Fund assets of state and nonprofit FFEL
                                                                                                                      Program GAs. GA reserves include initial federal start-up funds, receipts of federal
                                                                                                                      reinsurance payments, insurance premiums, GA share of collections on defaulted
                                                                                                                      loans, investment income, administrative cost allowances, and other assets.




                                                                                                                -6-
                                                                                                                                                                                              11/16/2016 06:26:40

                                                                                  U.S. Department of the Treasury
                                                                                    Bureau of the Fiscal Service
                                                                              Governmentwide Financial Report System
                                                                                     GF006 - FR Notes Report

     Note: 03           Accounts and Taxes Receivable, Net                                                                           Fiscal Year: 2016                 Period: SEPTEMBER
   Entity: 9100         Department of Education                                                                                      Agency Notes:        4

  Status: Complete                        The accompanying notes are an integral part of these financial statements.              I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                         NB    Account     2016 - SEPTEMBER       2015 - SEPTEMBER
                                                                                 Type
Accounts and taxes receivable, net                                        D        A                        136                   101
                                                                              Variance:                       0                     0            Rounding Method: Millions               Decimal: Zero
Line Status Line Description           2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd           Line Item Changes
 1           Accounts receivable,                             407                         341                          341                            0
             gross
 2           Related interest
             receivable-accounts
             receivable
 3           Penalties, fines, and
             administrative fees
             receivable-accounts
 4           Less: allowance for                             -271                      -240                          -240                             0
             loss on accounts
             receivable
 5           Less: allowance for
             loss on interest
             receivable-accounts
 6           Less: allowance for
             loss on penalties,
             fines, and
             administrative fees
             receivable-accounts
             Total                                            136                         101                          101                            0
Threshold

 Line Description                                              Question                                                           Answer
 Line Item Notes - Accounts receivable, gross (2016 -          Please provide explanations for any amounts that have              A large portion of the increase in accounts receivable results from increasing
 SEPTEMBER)                                                    changed by 10% or more and or greater than 500,000 between         FSA collection of program review cost.
                                                               the current fiscal year and prior fiscal year. (Unaudited)




                                                                                                      -7-
                                                                                                                                                                                                     11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

     Note: 03           Accounts and Taxes Receivable, Net                                                                                   Fiscal Year: 2016                 Period: SEPTEMBER
     Entity: 9100       Department of Education                                                                                              Agency Notes:      4

  Status: Complete                           The accompanying notes are an integral part of these financial statements.                   I = Inactive Line

Tab: Other Notes Info.

       Section: A            Section Name: Interest Receivable on Uncollectible Accounts and             No Data Flag: YES              Line Attributes: Dollars
                                           Taxes Receivables (SFFAS No. 1, par.55)                                                    Rounding Method: Millions                            Decimal: Zero
Line Status Line Description         NB        2016 - SEPTEMBER               2015 - SEPTEMBER                   Previously Rptd        Line Item Changes
 2              Interest on         Credit
                uncollectible
                accounts-accounts
                receivable




Tab: Text Data
 Line                Question                                                                                              Answer
 1                   Describe the method(s) used to calculate the allowances on accounts receivable (SFFAS                 The Department calculates the allowance for loss from uncollectable accounts
                     No. 1, par.52)                                                                                        receivable by applying a collection rate based on historical trends against gross
                                                                                                                           accounts receivable. The collection rate is determined based on a rolling average of
                                                                                                                           actual collection rates for the prior seven fiscal years.

 3                   Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                     the significant accounting policies pertainnig to this note.




                                                                                                             -8-
                                                                                                                                                                                           11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

      Note: 04A         Direct Loans Receivable, Net                                                                                   Fiscal Year: 2016               Period: SEPTEMBER
   Entity: 9100         Department of Education                                                                                        Agency Notes:     5

  Status: Complete                         The accompanying notes are an integral part of these financial statements.               I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                           NB    Account     2016 - SEPTEMBER        2015 - SEPTEMBER
                                                                                   Type
Loans receivable, net                                                       D        A                 1,076,579               1,017,733
                                                                                Variance:                      0                       0         Rounding Method: Millions            Decimal: Zero
Line Status Line Description             CY Face Value of loans         CY Long-term cost of CY Net Loans Receivable           PY Face Value of loans         PY Long-term cost of PY Net Loans Receivable
                                               outstanding             loans outstanding                                             outstanding             loans outstanding
 1           Federal Direct Student                     953,589                        -5,292                 958,881                         845,061                       -35,496                  880,557
             Loans
 4           Federal Family                                127,995                      13,125                      114,870                    132,233                       -2,471                    134,704
             Education Loan
 16
 17
 18
 19
 20
 21          All other loans                                  3,377                         549                       2,828                      3,238                         766                       2,472
             receivable
             Total                                       1,084,961                       8,382                     1,076,579                   980,532                     -37,201                    1,017,733
Threshold

 Line Description                                                Question                                                            Answer
 Line Item Notes - Federal Direct Student Loans (CY Face         Please provide explanations for any amounts that have               N/A
 Value of loans outstanding)                                     changed by 10% or more and or greater than 500,000 between
                                                                 the current fiscal year and prior fiscal year. (Unaudited)
 Line Item Notes - Federal Family Education Loan (CY Long-       Please provide explanations for any amounts that have               N/A
 term cost of loans outstanding)                                 changed by 10% or more and or greater than 500,000 between
                                                                 the current fiscal year and prior fiscal year. (Unaudited)
 Line Item Notes - All other loans receivable (CY Long-term      Please provide explanations for any amounts that have               N/A
 cost of loans outstanding)                                      changed by 10% or more and or greater than 500,000 between
                                                                 the current fiscal year and prior fiscal year. (Unaudited)




                                                                                                        -9-
                                                                                                                                                                                    11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

     Note: 04A           Direct Loans Receivable, Net                                                                                     Fiscal Year: 2016        Period: SEPTEMBER
     Entity: 9100        Department of Education                                                                                          Agency Notes:        5

  Status: Complete                             The accompanying notes are an integral part of these financial statements.              I = Inactive Line

Tab: Other Notes Info.

       Section: A                Section Name: Subsidy Expense/(Income) (SFFAS No. 32,par. 27)                                        Line Attributes: Dollars
                                                                                                                                    Rounding Method: Millions               Decimal: Zero
Line Status Line Description            NB       2016 - SEPTEMBER             2015 - SEPTEMBER                  Previously Rptd      Line Item Changes
 1             Federal Direct          Debit                      16,119                        -892                         -892                          0
               Students Loans
 4             Federal Family          Debit                       3,524                         408                          408                          0
               Education Loan
16                                     Debit
17             TEACH Grant             Debit                                                      17                           17                          0
               Subsidy Expense
18                                     Debit
19                                     Debit
20                                     Debit
21             All other loans         Debit                          11
               receivable
22             Total                 N/A                          19,654                        -467                         -467                          0
Threshold
 Line Description                                                  Question                                                            Answer
 Other Notes Info - Federal Direct Students Loans (2016 -          Please provide explanations for any amounts that have               N/A
 SEPTEMBER)                                                        changed by 10% or more and or greater than 500,000
                                                                   between the current fiscal year and prior fiscal year.
                                                                   (Unaudited)
 Other Notes Info - Federal Family Education Loan (2016 -          Please provide explanations for any amounts that have               N/A
 SEPTEMBER)                                                        changed by 10% or more and or greater than 500,000
                                                                   between the current fiscal year and prior fiscal year.
                                                                   (Unaudited)
       Section: B                Section Name: Foreclosed Assets-Balances (SFFAS No. 2, par. 57)         No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                    Rounding Method: Millions               Decimal: Zero
Line Status Line Description            NB       2016 - SEPTEMBER             2015 - SEPTEMBER                  Previously Rptd      Line Item Changes
 1             Balances for            Debit
               property held Pre-
               1992
 2             Balances for            Debit
               property held Post-
               1991




                                                                                                            - 10 -
                                                                                                                                                                                              11/16/2016 06:26:40

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                      GF006 - FR Notes Report

   Note: 04A        Direct Loans Receivable, Net                                                                                    Fiscal Year: 2016                  Period: SEPTEMBER
  Entity: 9100       Department of Education                                                                                        Agency Notes:       5

 Status: Complete                       The accompanying notes are an integral part of these financial statements.               I = Inactive Line

Tab: Text Data
Line             Question                                                                                         Answer
1                Provide any other relevant information pertaining to this note. At a minimum, describe briefly   The Federal Credit Reform Act of 1990 (Credit Reform Act) underlies the proprietary
                 the significant                                                                                  and budgetary accounting treatment of direct loans. The long-term cost to the
                 accounting policies pertaining to this note.                                                     government for direct loans, other than for general administration of the programs, is
                                                                                                                  referred to as subsidy cost. Under the Credit Reform Act, subsidy costs for loans
                                                                                                                  obligated beginning in fiscal year 1992 are estimated at the net present value of
                                                                                                                  projected lifetime costs in the year the loan is obligated. Subsidy costs are then
                                                                                                                  revalued annually through the re-estimate process. The estimation process used to
                                                                                                                  determine the amount of positive or negative subsidy expense each fiscal year, and
                                                                                                                  subsequently the cumulative taxpayer cost of the program (allowance for subsidy), is
                                                                                                                  subject to various internal and external risk factors which often show strong
                                                                                                                  interdependence with one another. These risks include uncertainty about changes in
                                                                                                                  the general economy, changes in the legislative and regulatory environment, and
                                                                                                                  changing trends in borrower performance with regard to contractual cash flows within
                                                                                                                  the loan programs.
                                                                                                                  Due to the complexity of the Direct Loan program, there is inherent projection risk in the
                                                                                                                  process used for estimating long-term program costs. As stated, some uncertainty
                                                                                                                  stems from potential changes in student loan legislation and regulations because these
                                                                                                                  changes may fundamentally alter the cost structure of the program. Operational and
                                                                                                                  policy shifts, such as growing efforts to increase borrower enrollment in income-driven
                                                                                                                  repayment (IDR) plans, may also affect program costs by causing significant changes in
                                                                                                                  borrower repayment timing. Actual performance may deviate from estimated
                                                                                                                  performance, which is not unexpected given the long-term nature of these loans (cash
                                                                                                                  flows may be estimated up to 40 years), and the multitude of projection paths and
                                                                                                                  possible outcomes. The increasing enrollment of borrowers in the IDR plans has made
                                                                                                                  projection of borrower incomes a key input for the estimation process. This uncertainty
                                                                                                                  is directly tied to the macroeconomic climate and is another inherent program element
                                                                                                                  which displays the interrelated risks facing the Direct Loan program.

                                                                                                                  The Department uses a computerized cash flow projection Student Loan Model to
                                                                                                                  calculate subsidy estimates for the Direct Loan, FFEL and TEACH Programs. Each
                                                                                                                  year, the Department re-evaluates the estimation methods related to changing
                                                                                                                  conditions. The Department uses a probabilistic technique to forecast interest rates
                                                                                                                  based on different methods to establish the relationship between an event's occurrence
                                                                                                                  and the magnitude of its probability. The Department's approach estimates interest
                                                                                                                  rates under numerous scenarios and then bases interest rates on the average interest
                                                                                                                  rates weighted by the assumed probability of each scenario occurring. Probabilistic
                                                                                                                  methodology facilitates the modeling of the Department's unique loan programs.

                                                                                                                  For each program, cash flows are projected over the life of the loans, aggregated by
                                                                                                                  loan type, cohort year and risk category. The loan's cohort year represents the year a
                                                                                                                  direct loan was obligated or a loan was guaranteed, regardless of the timing of
                                                                                                                  disbursements. Risk categories include two-year colleges, freshmen and sophomores
                                                                                                                  at four-year colleges, juniors and seniors at four-year colleges, graduate schools and
                                                                                                                  proprietary (for-profit) schools.




                                                                                                         - 11 -
                                                                                                                                                                11/16/2016 06:26:40

                                                                             U.S. Department of the Treasury
                                                                               Bureau of the Fiscal Service
                                                                         Governmentwide Financial Report System
                                                                                GF006 - FR Notes Report

   Note: 04A        Direct Loans Receivable, Net                                                                           Fiscal Year: 2016    Period: SEPTEMBER
  Entity: 9100      Department of Education                                                                                Agency Notes:    5

 Status: Complete                     The accompanying notes are an integral part of these financial statements.        I = Inactive Line

Tab: Text Data
Line             Question                                                                                      Answer




                                                                                                - 12 -
                                                                                                                                                                                  11/16/2016 06:26:40

                                                                                  U.S. Department of the Treasury
                                                                                    Bureau of the Fiscal Service
                                                                              Governmentwide Financial Report System
                                                                                     GF006 - FR Notes Report

      Note: 04B          Loan Guarantees                                                                                          Fiscal Year: 2016               Period: SEPTEMBER
   Entity: 9100          Department of Education                                                                                  Agency Notes:      5

  Status: Complete                         The accompanying notes are an integral part of these financial statements.          I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                         NB    Account     2016 - SEPTEMBER       2015 - SEPTEMBER
                                                                                 Type
Loan guarantee liabilities                                                C        L                     1,633                   0
                                                                              Variance:                      0                   0            Rounding Method: Millions       Decimal: Zero
Line Status Line Description           2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd        Line Item Changes
 1            Federal Family                               1,429
              Education Loans
 12
 13
 14
 15
 16
 17          All other loan                                  204
             guarantee liabilities
             Total                                          1,633




                                                                                                     - 13 -
                                                                                                                                                                                       11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 04B           Loan Guarantees                                                                                                 Fiscal Year: 2016          Period: SEPTEMBER
     Entity: 9100        Department of Education                                                                                         Agency Notes:    5

  Status: Complete                           The accompanying notes are an integral part of these financial statements.               I = Inactive Line

Tab: Other Notes Info.

       Section: A              Section Name: Other Related Information (SFFAS No. 32, par. 27)                                       Line Attributes: Dollars
                                                                                                                                   Rounding Method: Millions                  Decimal: Zero
Line Status Line Description           NB         CY Face Value of        CY Amount Guaranteed       CY Subsidy Expense D         PY Face Value of Loans PY Amount Guaranteed by   PY Subsidy Expense D
                                              Loans Outstanding D          by the Government D                                            Outstanding D        the Government D
 1             Federal Family          N/A                     196,863                    192,737                         6,710
               Education Loans
12                                     N/A
13                                     N/A
14                                     N/A
15                                     N/A
16                                     N/A
17             All other loans         N/A
               guarantee liabilities
18             Total:                  N/A                     196,863                    192,737                         6,710




                                                                                                       - 14 -
                                                                                                                                                                                               11/16/2016 06:26:40

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                      GF006 - FR Notes Report

   Note: 04B        Loan Guarantees                                                                                                  Fiscal Year: 2016                  Period: SEPTEMBER
  Entity: 9100       Department of Education                                                                                         Agency Notes:       5

 Status: Complete                       The accompanying notes are an integral part of these financial statements.               I = Inactive Line

Tab: Text Data
Line             Question                                                                                         Answer
1                Provide any other relevant information pertaining to this note. At a minimum, describe briefly   The Federal Family Education Loan program, authorized by the Higher Education Act of
                 the significant accounting policies pertaining to this note.                                     1965, operates through state and private nonprofit guaranty agencies which provided
                                                                                                                  loan guarantees and interest subsidies on loans made by private lenders to eligible
                                                                                                                  students. The SAFRA Act, formerly the Student Aid and Fiscal Responsibility Act that
                                                                                                                  was included in the Health Care and Education Reconciliation Act of 2010 (HCERA),
                                                                                                                  effective July 1, 2010, stated that no new FFEL loans would be made effective July 1,
                                                                                                                  2010. As a result of the SAFRA Act, no new FFEL loans have been made since July 1,
                                                                                                                  2010. Federal guarantees on FFEL program loans and commitments remain in effect
                                                                                                                  for loans made before July 1, 2010, unless they were sold to the Department,
                                                                                                                  consolidated into a direct loan, or otherwise satisfied, discharged, or cancelled. The
                                                                                                                  Ensuring Continued Access to Student Loans Act of 2008 (ECASLA) gave the
                                                                                                                  Department temporary authority to purchase FFEL loans and participation interests in
                                                                                                                  those loans. The Department implemented three activities under this authority: loan
                                                                                                                  purchase commitments; purchases of loan participation interests; and a put, or forward
                                                                                                                  purchase commitment, with an Asset-Backed Commercial Paper (ABCP) Conduit. This
                                                                                                                  authority expired after September 30, 2010; as a result, loan purchase commitments
                                                                                                                  and purchases of loan participation interests concluded. However, under the terms of
                                                                                                                  the Put Agreement with the conduit, ABCP Conduit activity ceased operations in
                                                                                                                  January 2014.

                                                                                                                  The liability for loan guarantees presents the net present value of all future cash flows
                                                                                                                  from currently insured FFEL loans, including claim payments, interest assistance,
                                                                                                                  allowance payments, and recoveries from assigned loans. Guaranteed loans that
                                                                                                                  default are initially turned over to guaranty agencies for collection. Defaulted FFEL
                                                                                                                  loans are accounted for and reported under credit reform rules, similar to direct loans,
                                                                                                                  although they are legally not direct student loans. Negative liability balances are
                                                                                                                  reported as a component of direct loans receivable.




                                                                                                         - 15 -
                                                                                                                                                                                 11/16/2016 06:26:40

                                                                                 U.S. Department of the Treasury
                                                                                   Bureau of the Fiscal Service
                                                                             Governmentwide Financial Report System
                                                                                    GF006 - FR Notes Report

     Note: 05           Inventories and Related Property                                                                         Fiscal Year: 2016               Period: SEPTEMBER
   Entity: 9100         Department of Education                                                                                  Agency Notes:      N/A

  Status: Complete                        The accompanying notes are an integral part of these financial statements.          I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                        NB    Account     2016 - SEPTEMBER       2015 - SEPTEMBER
                                                                                Type
Inventories and related property, net                                    D        A                          0                  0
                                                                             Variance:                       0                  0            Rounding Method: Millions       Decimal: Zero
Line Status Line Description            2016 - SEPTEMBER          2015 - SEPTEMBER                Previously Rptd        Line Item Changes
 1           Gross Inventory-
             balance beginning of
             year
 2           Prior-period
             adjustment (not
             restated)
 3           Capitalized
             acquisitions from the
             public
 4           Capitalized
             acquisitions from
             Government agencies
 5           Inventory sold or used
 6           Total allowance for
             inventories and related
             property
             Total




                                                                                                    - 16 -
                                                                                                                                                                               11/16/2016 06:26:40

                                                                                        U.S. Department of the Treasury
                                                                                          Bureau of the Fiscal Service
                                                                                    Governmentwide Financial Report System
                                                                                           GF006 - FR Notes Report

     Note: 05             Inventories and Related Property                                                                             Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100         Department of Education                                                                                      Agency Notes:    N/A

  Status: Complete                               The accompanying notes are an integral part of these financial statements.         I = Inactive Line

Tab: Other Notes Info.

       Section: A               Section Name: Inventory Year-end Balances by Category Type               No Data Flag: YES         Line Attributes: Dollars
                                              (SFFAS No. 32, pars. 16-18, 20)                                                    Rounding Method: Millions             Decimal: Zero
Line Status Line Description             NB        2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd    Line Item Changes
 1              Inventory               Debit
                purchased for sale
 2              Inventory held in       Debit
                reserve for future
                sale to the public
 3              Inventory and           Debit
                operating materials
                and supplies held
                for repair
 4              Inventory-excess,       Debit
                obsolete, and
                unserviceable
 5              Operating materials     Debit
                and supplies held
                for use
 6              Operating materials     Debit
                and supplies held
                in reserve for future
                use
 7              Operating materials     Debit
                and supplies
                excess, obsolete,
                and unserviceable
 8              Stockpile materials     Debit
 9              Stockpile materials     Debit
                held for sale
10              Forfeited property      Debit
11              Other related           Debit
                property
12              Total allowance for     Credit
                inventories and
                related property
13              Total inventories        N/A
                and related
                property, net




                                                                                                           - 17 -
                                                                                                                                                                                11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 05            Inventories and Related Property                                                                           Fiscal Year: 2016         Period: SEPTEMBER
     Entity: 9100        Department of Education                                                                                    Agency Notes:    N/A

  Status: Complete                            The accompanying notes are an integral part of these financial statements.         I = Inactive Line


       Section: B              Section Name: Capitalized Acquisitions From Government Agencies        No Data Flag: YES         Line Attributes: Dollars
                                             by Trading Partner                                                               Rounding Method: Millions                Decimal: Zero
Line Status Line Description           NB       2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd    Line Item Changes
 1        I     General Services      Debit
                Administration
 2        I     Department of         Debit
                Defense
 3        I     Department of         Debit
                Justice
 4        I     National              Debit
                Aeronautics and
                Space
                Administration
 5        I     All other             Debit
                departments
 6        I     Total capitalized     Debit
                assets from federal
                agencies
       Section: C              Section Name: Other Information-Dollar Value                           No Data Flag: YES         Line Attributes: Dollars
                                                                                                                              Rounding Method: User-Defined            Decimal: User-Defined
Line Status Line Description           NB       2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd    Line Item Changes
 1              Seized property       Debit
 2              Forfeited property    Debit
 3              Goods held under      Debit
                price support and
                stabilization
                programs




                                                                                                        - 18 -
                                                                                                                                                                               11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

     Note: 05            Inventories and Related Property                                                                               Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100         Department of Education                                                                                       Agency Notes:    N/A

  Status: Complete                          The accompanying notes are an integral part of these financial statements.               I = Inactive Line


       Section: D              Section Name: Other Information-Number of Items/Volume                    No Data Flag: YES          Line Attributes: Units


Line Status Line Description          NB      2016 - SEPTEMBER                2015 - SEPTEMBER                   Previously Rptd    Line Item Changes
 1              Seized property      N/A
 2              Forfeited property   N/A
 3              Goods held under     N/A
                price support and
                stabilization
                programs



Tab: Text Data                          No Data Flag: YES
 Line                Question                                                                                              Answer
 1                   Method used to calculate allowance.
 2                   Significant accounting principles and methods of applying those principles.
 3                   Provide a broad description of foreclosed property (SFFAS No. 32, par. 21)
 4                   Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                     the significant accounting policies pertaining to this note.




                                                                                                            - 19 -
                                                                                                                                                                                       11/16/2016 06:26:40

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                      GF006 - FR Notes Report

     Note: 06           Property, Plant, and Equipment (PP&E)                                                                       Fiscal Year: 2016                Period: SEPTEMBER
   Entity: 9100         Department of Education                                                                                     Agency Notes:        4, 13

  Status: Complete                          The accompanying notes are an integral part of these financial statements.           I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                          NB    Account     2016 - SEPTEMBER        2015 - SEPTEMBER
                                                                                  Type
Property, plant and equipment, net                                         D        A                          24                 21
                                                                               Variance:                        0                  0             Rounding Method: Millions         Decimal: Zero
Line Status Line Description                        CY PP&E                     CY Accum.              CY Net PP&E                     PY PP&E                      PY Accum.            PY Net PP&E
                                                                      Depr./Amortization                                                                  Depr./Amortization
 1           Balance beginning of                             199                        178                             21                       184                        177                        7
             year
 2           Prior-period
             adjustments (not
             restated)
 3           Capitalized                                        11                                                       11                        15                         0                        15
             acquisitions from the
             public
 4           Capitalized
             acquisitions from
             government agencies
 5           Deletions from the                                 -8                                                       -8
             Balance Sheet
 6           Deletions related to
             partial impairment of
             PP&E
 7           Revaluations
 8           Stewardship
             reclassifications
 9           Depreciation/amortizati                                                                                                                                          1                        -1
             on
             Total                                              202                        178                           24                        199                       178                       21
Threshold

 Line Description                                               Question                                                          Answer
 Line Item Notes - Capitalized acquisitions from the public     Please provide explanations for any amounts that have            Immaterial.
 (CY PP&E)                                                      changed by 10% or more and or greater than 500,000 between
                                                                the current fiscal year and prior fiscal year. (Unaudited)




                                                                                                      - 20 -
                                                                                                                                                                                       11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

     Note: 06              Property, Plant, and Equipment (PP&E)                                                                         Fiscal Year: 2016            Period: SEPTEMBER
     Entity: 9100          Department of Education                                                                                       Agency Notes:        4, 13

  Status: Complete                              The accompanying notes are an integral part of these financial statements.            I = Inactive Line

Tab: Other Notes Info.

       Section: A                Section Name: Cost of PP&E for each category (SFFAS No. 32, par.                                    Line Attributes: Dollars
                                               23)                                                                                 Rounding Method: Millions                   Decimal: Zero
Line Status Line Description             NB       2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd       Line Item Changes
 1              Buildings,              Debit
                structures, and
                facilities (including
                improvement to
                land)
 2              Furniture, fixtures,    Debit                           3                          3                           3                          0
                and equipmen
                (including
                aircraf,ships,
                vessels, small
                boats, and
                vehicles)
 3              Construction in         Debit
                progress
 4              Land and Land           Debit
                Rights
 5              Internal use            Debit                         199                        196                         196                          0
                software
 6              Assets under            Debit
                capital lease
 7              Leasehold               Debit
                improvements
 8              Other property,         Debit
                plant and
                equipment
 9              Total property,         N/A                           202                        199                         199                          0
                plant and
                equipment




                                                                                                          - 21 -
                                                                                                                                                                                         11/16/2016 06:26:40

                                                                                        U.S. Department of the Treasury
                                                                                          Bureau of the Fiscal Service
                                                                                    Governmentwide Financial Report System
                                                                                           GF006 - FR Notes Report

     Note: 06             Property, Plant, and Equipment (PP&E)                                                                            Fiscal Year: 2016            Period: SEPTEMBER
     Entity: 9100         Department of Education                                                                                          Agency Notes:        4, 13

  Status: Complete                               The accompanying notes are an integral part of these financial statements.             I = Inactive Line


       Section: B               Section Name: Accumulated Depreciation/Amortization (SFFAS No.                                         Line Attributes: Dollars
                                              32, par. 23)                                                                           Rounding Method: Millions                   Decimal: Zero
Line Status Line Description             NB        2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd        Line Item Changes
 1              Buildings,              Credit
                structures, and
                facilities (including
                improvements to
                land)
 2              Furniture, fixtures,    Credit                           3                          3                            3                          0
                and equipment
                (including aircraft,
                ships, vessels,
                small boats, and
                vehicles)
 3              Internal use            Credit                         175                        175                          175                          0
                software
 4              Assets under            Credit
                capital lease
 5              Leasehold               Credit
                improvements
 6              Other property,         Credit
                plant, and
                equipment
 7              Total accumulated        N/A                         -178                       -178                          -178                          0
                depreciation/amorti
                zation
       Section: C               Section Name: Intragovernmental Capitalized acquisition amounts          No Data Flag: YES             Line Attributes: Dollars
                                                                                                                                     Rounding Method: Millions                   Decimal: Zero
Line Status Line Description             NB        2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd        Line Item Changes
 1        I     General Services        Debit
                Administration
 2        I     Department of           Debit
                Defense
 3        I     Department of the       Debit
                Interior
 4        I     Department of           Debit
                Justice
 5        I     National                Debit
                Aeronautics and
                Space
                Administration



                                                                                                           - 22 -
                                                                                                                                                                                 11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 06            Property, Plant, and Equipment (PP&E)                                                                       Fiscal Year: 2016         Period: SEPTEMBER
     Entity: 9100        Department of Education                                                                                     Agency Notes:    4, 13

  Status: Complete                             The accompanying notes are an integral part of these financial statements.         I = Inactive Line


       Section: C              Section Name: Intragovernmental Capitalized acquisition amounts         No Data Flag: YES         Line Attributes: Dollars
                                                                                                                               Rounding Method: Millions                Decimal: Zero
Line Status Line Description           NB        2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd    Line Item Changes
 6        I     All other             Debit
                departments
 7        I     Total capitalized     Debit
                assets from federal
                agencies




       Section: D              Section Name: Gain/Loss on Sale/Disposition                             No Data Flag: YES         Line Attributes: Dollars
                                                                                                                               Rounding Method: User-Defined            Decimal: User-Defined
Line Status Line Description           NB        2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd    Line Item Changes
 1        I     Gain/loss on          Credit
                sale/disposition of
                property, plant and
                equipment




                                                                                                         - 23 -
                                                                                                                                                                                              11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

    Note: 06          Property, Plant, and Equipment (PP&E)                                                                           Fiscal Year: 2016                 Period: SEPTEMBER
    Entity: 9100       Department of Education                                                                                        Agency Notes:      4, 13

 Status: Complete                         The accompanying notes are an integral part of these financial statements.               I = Inactive Line

Tab: Text Data
Line               Question                                                                                         Answer
1                  Provide the physical quantity information by category for multiuse heritage assets that are      The Department capitalizes single items of property and equipment with a cost of
                   included in the "Line Item Notes" tab of this note (SFFAS No. 29, par 25).                       $50,000 or more that have an estimated useful life of two years or more. Additionally,
                                                                                                                    the Department capitalizes bulk purchases of property and equipment with an
                                                                                                                    aggregate cost of $500,000 or more. A bulk purchase is defined as the purchase of like
                                                                                                                    items related to a specific project, or the purchase of like items occurring within the
                                                                                                                    same fiscal year that have an estimated useful life of at least two years. Property and
                                                                                                                    equipment are depreciated over their estimated useful lives using the straight-line
                                                                                                                    method of depreciation. Internal Use Software meeting the above cost and useful life
                                                                                                                    criteria is also capitalized. Internal Use Software is either purchased off the shelf,
                                                                                                                    internally developed, or contractor developed solely to meet the Department's needs.


2                  Provide a general description of what constitutes general PP&E impairment (SFFAS 44, par.
                   26).
3                  Provide any other relevant information pertaining to this note and any material changes from
                   the prior fiscal years' depreciation methods and capitalization thresholds. In addition,
                   describe briefly the significant accounting policies pertaining to this note.




                                                                                                           - 24 -
                                                                                                                                                                                    11/16/2016 06:26:40

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                      GF006 - FR Notes Report

     Note: 07           Debt and Equity Securities [Financial Accounting Standards Board (FASB), Accounting Standards               Fiscal Year: 2016               Period: SEPTEMBER
                        Codification (ASC) 320 and
                                                                                                                                    Agency Notes:      N/A
   Entity: 9100         Department of Education
                                                                                                                                 I = Inactive Line
  Status: Complete                        The accompanying notes are an integral part of these financial statements.

Tab: Line Item Notes
Closing Package Line Description                                          NB    Account    2016 - SEPTEMBER         2015 - SEPTEMBER
                                                                                  Type
Debt and equity securities                                                D         A                           0                  0
                                                                               Variance:                        0                  0            Rounding Method: Millions       Decimal: Zero
Line Status Line Description           2016 - SEPTEMBER            2015 - SEPTEMBER                 Previously Rptd         Line Item Changes
 1           Fixed/Debt Securities
             (FASB ASC 320-10-
             50-1): Non-U.S.
             Government Securities
 2           Fixed/Debt Securities
             (FASB ASC 320-10-
             50-1): Commercial
             Securities
 3           Fixed/Debt Securities
             (FASB ASC 320-10-
             50-1): Mortgage/asset
             backed Securities
 4           Fixed/Debt Securities
             (FASB ASC 320-10-
             50-1):Corporate and
             other bonds
 5           All other Fixed
             Income/Debt Securities
             (FASB ASC 320-10-
             50-1) All:Other
             fixed/debt securities
 6           Equity Securities
             (FASB ASC 320-10-
             50-1): Common
             Stocks
 7           Equity Securities
             (FASB ASC 320-10-
             50-1): Unit Trusts
 8           Equity Securities
             (FASB ASC 320-10-
             50-1): All Other Equity
             Securities
 9           Other
             Total




                                                                                                       - 25 -
                                                                                                                                                                                   11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 07             Debt and Equity Securities [Financial Accounting Standards Board (FASB), Accounting Standards             Fiscal Year: 2016             Period: SEPTEMBER
                          Codification (ASC) 320 and
                                                                                                                                    Agency Notes:    N/A
     Entity: 9100         Department of Education
                                                                                                                                 I = Inactive Line
  Status: Complete                            The accompanying notes are an integral part of these financial statements.

Tab: Other Notes Info.

       Section: A               Section Name: Investment Category-Held-to-Maturity Securities         No Data Flag: YES         Line Attributes: Dollars
                                                                                                                              Rounding Method: Millions                    Decimal: Zero
Line Status Line Description            NB       CY Basis (Costs) D              CY Unamortized           CY Net Investment     PY Basis (Costs) D             PY Unamortized     PY Net Investment
                                                                             Premium/Discount D                                                            Premium/Discount D
 1              Fixed/Debt              N/A
                Securities: Non-
                U.S. Government
                securities
 2              Fixed/Debt              N/A
                Securities:
                Commercial
                securities
 3              Fixed/Debt              N/A
                Securities:
                Mortgage/asset
                backed securities
 4              Fixed/Debt              N/A
                Securities:
                Corporate and
                other bonds
 5              Fixed/Debt              N/A
                Securities: All other
                fixed income/debt
                securiteis
 6              Equity Securities:      N/A
                Common stocks
 7              Equity Securities:      N/A
                Unit trusts
 8              Equity Securities:      N/A
                All Other equity
                securities
 9              Other                   N/A
10              Total Held-to-          N/A
                Maturity Securities




                                                                                                         - 26 -
                                                                                                                                                                                  11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 07             Debt and Equity Securities [Financial Accounting Standards Board (FASB), Accounting Standards              Fiscal Year: 2016          Period: SEPTEMBER
                          Codification (ASC) 320 and
                                                                                                                                     Agency Notes:    N/A
     Entity: 9100         Department of Education
                                                                                                                                  I = Inactive Line
  Status: Complete                            The accompanying notes are an integral part of these financial statements.


       Section: B               Section Name: Investment Category-Available-for-Sale Securities       No Data Flag: YES          Line Attributes: Dollars
                                                                                                                               Rounding Method: Millions                  Decimal: Zero
Line Status Line Description            NB       CY Basis (Costs) D       CY Unrealized Gain/Loss            CY Market Value     PY Basis (Costs) D PY Unrealized Gain/Loss         PY Market Value
                                                                                                D                                                                          D
 1              Fixed/Debt              N/A
                Securities: Non-US
                Government
                securities
 2              Fixed/Debt              N/A
                Securities:
                Commercial
                securities
 3              Fixed/Debt              N/A
                Securities:
                Mortgage/asset
                backed securities
 4              Fixed/Debt              N/A
                Securities:
                Corporate and
                other bonds
 5              Fixed/Debt              N/A
                Securities: All other
                fixed income/debt
                secruties
 6              Equity Securities:      N/A
                Common stocks
 7              Equity Securities:      N/A
                Unit trusts
 8              Equity Securities:      N/A
                All other equity
                securities
 9              Other                   N/A
10              Total Available-        N/A
                for-Sale Securities




                                                                                                         - 27 -
                                                                                                                                                                                  11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 07             Debt and Equity Securities [Financial Accounting Standards Board (FASB), Accounting Standards              Fiscal Year: 2016          Period: SEPTEMBER
                          Codification (ASC) 320 and
                                                                                                                                     Agency Notes:    N/A
     Entity: 9100         Department of Education
                                                                                                                                  I = Inactive Line
  Status: Complete                            The accompanying notes are an integral part of these financial statements.


       Section: C               Section Name: Investment Category-Trading Securities                  No Data Flag: YES          Line Attributes: Dollars
                                                                                                                               Rounding Method: Millions                  Decimal: Zero
Line Status Line Description            NB       CY Basis (Costs) D       CY Unrealized Gain/Loss            CY Market Value     PY Basis (Costs) D PY Unrealized Gain/Loss         PY Market Value
                                                                                                D                                                                          D
 1              Fixed/Debt              N/A
                Securities: Non-US
                Government
                securities
 2              Fixed/Debt              N/A
                Securities:
                Commercial
                securities
 3              Fixed/Debt              N/A
                Securities:
                Mortgage/asset
                backed securities
 4              Fixed/Debt              N/A
                Securities:
                Corporate and
                other bonds
 5              Fixed/Debt              N/A
                Securities: All other
                fixed income/debt
                securities
 6              Equity Securities:      N/A
                Common stocks
 7              Equity Securities:      N/A
                Unit trusts
 8              Equity Securities:      N/A
                All other equity
                securities
 9              Other                   N/A
10              Total Trading           N/A
                Securities




                                                                                                         - 28 -
                                                                                                                                                                             11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 07             Debt and Equity Securities [Financial Accounting Standards Board (FASB), Accounting Standards              Fiscal Year: 2016      Period: SEPTEMBER
                          Codification (ASC) 320 and
                                                                                                                                     Agency Notes:    N/A
     Entity: 9100         Department of Education
                                                                                                                                  I = Inactive Line
  Status: Complete                             The accompanying notes are an integral part of these financial statements.


       Section: D              Section Name: Other Information                                         No Data Flag: YES         Line Attributes: Dollars
                                                                                                                               Rounding Method: Millions             Decimal: Zero
Line Status Line Description           NB        2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd      Line Item Change
 1              Proceeds from         Debit
                sales of available-
                for-sale securities
                (FASB ASC 320-
                10-50-9)
 2              Gross realized        Debit
                gains (included in
                earnings) from
                sales of available-
                for-sale securities
                (FASB ASC 320-
                10-50-9)
 3              Gross realized        Credit
                losses (included in
                earnings) from
                sales of available-
                for-sale securities
                (FASB ASC 320-
                10-50-9)
 4              Gross gains           Debit
                included in
                earnings from s
                from transfers of
                securities from
                available-for-sale
                into trading
 5              Gross losses          Credit
                included in
                earnings from s
                from transfers of
                securities from
                available-for-sale
                into trading
 6              Net unrealized        Debit
                holding gain on
                available-for-sale
                securities included
                in accumulated
                other
                comprehensive
                income


                                                                                                         - 29 -
                                                                                                                                                                               11/16/2016 06:26:40

                                                                                        U.S. Department of the Treasury
                                                                                          Bureau of the Fiscal Service
                                                                                    Governmentwide Financial Report System
                                                                                           GF006 - FR Notes Report

     Note: 07             Debt and Equity Securities [Financial Accounting Standards Board (FASB), Accounting Standards                Fiscal Year: 2016      Period: SEPTEMBER
                          Codification (ASC) 320 and
                                                                                                                                       Agency Notes:    N/A
     Entity: 9100          Department of Education
                                                                                                                                    I = Inactive Line
  Status: Complete                               The accompanying notes are an integral part of these financial statements.


       Section: D               Section Name: Other Information                                          No Data Flag: YES         Line Attributes: Dollars
                                                                                                                                 Rounding Method: Millions             Decimal: Zero
Line Status Line Description             NB        2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd      Line Item Change
 7              Net unrealized          Credit
                holding loss on
                available-for-sale
                securities included
                in accumulated
                other
                comprehensive
                income
 8              Amount of               Debit
                gains/losses
                reclassified out of
                accumulated other
                comprehensive
                income into
                earnings for the
                period
 9              Portion of trading      Debit
                gains/losses that
                relates to trading
                securities still held
                at the reporting
                date
10              Net carrying            Debit
                amount of
                sold/transferred
                held-to-maturity
                securities (FASB
                ASC 320-10-50-
                10)
11              Net gain/loss in        Debit
                accum. other
                comp. income for
                any derivative that
                hedged the
                forecasted
                acquisition of HTM
                security




                                                                                                           - 30 -
                                                                                                                                                                         11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

    Note: 07          Debt and Equity Securities [Financial Accounting Standards Board (FASB), Accounting Standards               Fiscal Year: 2016      Period: SEPTEMBER
                      Codification (ASC) 320 and
                                                                                                                                  Agency Notes:    N/A
    Entity: 9100       Department of Education
                                                                                                                               I = Inactive Line
 Status: Complete                         The accompanying notes are an integral part of these financial statements.

Tab: Text Data                        No Data Flag: YES
Line               Question                                                                                           Answer
1                  Provide a description of the amounts reported on the "Line Item Notes" tab for lines 5, 8 and
                   9.
2                  Provide a description of the amounts reported on the "Other Notes Infor" tab for lines 5, 8
                   and 9 in Sections A through C.
3                  Provide the basis on which the cost of a security sold or the amount reclassified out of
                   accumulated other comprehensive income into earnings was determined (FASB ASC 320-
                   10-50-9).
4                  Provide the circumstances leading to the decision to sell or transfer the security for held-to-
                   maturity securities (FASB ASC 320-10-50-10).
5                  Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                   the significant accounting policies pertaining to this note.




                                                                                                           - 31 -
                                                                                                                                                                                          11/16/2016 06:26:40

                                                                                 U.S. Department of the Treasury
                                                                                   Bureau of the Fiscal Service
                                                                             Governmentwide Financial Report System
                                                                                    GF006 - FR Notes Report

     Note: 08           Other Assets                                                                                               Fiscal Year: 2016                Period: SEPTEMBER
   Entity: 9100          Department of Education                                                                                   Agency Notes:        4

  Status: Complete                        The accompanying notes are an integral part of these financial statements.            I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                        NB    Account     2016 - SEPTEMBER       2015 - SEPTEMBER
                                                                                Type
Other assets                                                             D        A                          5                    6
                                                                             Variance:                       0                    0            Rounding Method: Millions             Decimal: Zero
Line Status Line Description           2016 - SEPTEMBER            2015 - SEPTEMBER               Previously Rptd          Line Item Changes
 1             Advances and                                    3                          2                            2                            0
               prepayments
 3             Regulatory assets
 4             Derivative assets
 5             Other assets                                    2                          4                            4                            0
               Total                                           5                          6                            6                            0
Threshold

 Line Description                                             Question                                                           Answer
 Line Item Notes - Advances and prepayments (2016 -           Please provide explanations for any amounts that have             Immaterial.
 SEPTEMBER)                                                   changed by 10% or more and or greater than 500,000 between
                                                              the current fiscal year and prior fiscal year. (Unaudited)
 Line Item Notes - Advances and prepayments (2015 -           Please provide explanations for any amounts that have             Immaterial.
 SEPTEMBER)                                                   changed by 10% or more and or greater than 500,000 between
                                                              the current fiscal year and prior fiscal year. (Unaudited)
 Line Item Notes - Other assets (2016 - SEPTEMBER)            Please provide explanations for any amounts that have             The change is due to a decrease in in-process invoices for FFEL interest
                                                              changed by 10% or more and or greater than 500,000 between        benefits.
                                                              the current fiscal year and prior fiscal year. (Unaudited)
 Line Item Notes - Other assets (2015 - SEPTEMBER)            Please provide explanations for any amounts that have             The change is due to a decrease in in-process invoices for FFEL interest
                                                              changed by 10% or more and or greater than 500,000 between        benefits.
                                                              the current fiscal year and prior fiscal year. (Unaudited)




                                                                                                    - 32 -
                                                                                                                                                                                               11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 08         Other Assets                                                                                                      Fiscal Year: 2016                Period: SEPTEMBER
    Entity: 9100      Department of Education                                                                                           Agency Notes:      4

 Status: Complete                         The accompanying notes are an integral part of these financial statements.                 I = Inactive Line

Tab: Text Data
Line               Question                                                                                           Answer
1                  Provide a description of advances and prepayments on the "Line Item Notes" tab for line 1.         Advances and Prepayments consist of payments made to grant recipients in advance of
                                                                                                                      their expenditures and in-process invoices for interest benefits and special allowances
                                                                                                                      for the FFEL Program.

2                  Provide a description and related amounts for balances that exceed $1 billion in the line titled
                   "Other Assets" on the "Line Item Notes" tab.
3                  Provide the amounts that are designated as either non-hedging or hedging instruments.
4                  Provide disclosures for the objectives for holding or issuing derivatives, the context needed
                   to understand these objectives, as well as strategies for achieving these objectives (FASB
                   ASC 815-10-50-1A).
5                  Provide disclosures for the volume of derivative activity (FASB ASC 815-10-50-1B).
6                  Provide disclosures on the location of fair value amounts of derivate assets instruments on
                   the Balance Sheet (FASB ASC 815-10-50-4A).
7                  Provide disclosures on the location of gains or losses recognized into earnings (FASB ASC
                   815-10-50-4A).
8                  Provide the effective portion of gains and losses, by contract type, on derivative instruments
                   classified as either cashflow or net investment hedges that are being reclassified into
                   earnings during the current period (FASB ASC 815-10-50-4C).
9                  Provide the effective portion of gains and losses, by contract type, on derivative instruments
                   classified as either cashflow or net investment hedges that are recognized in other
                   comprehensive income during the current period (FASB ASC 815-10-50-4C).
10                 Provide the portion of gains and losses, by contract type, on derivative instruments classified
                   as either cashflow or net investment hedges that represent the amount of the hedges'
                   ineffectiveness or the amount, if any, excluded from the assessment of the hedge
                   effectiveness (FASB ASC 815-10-50-4C).
11                 Provide a description of the nature of trading activities for non-hedging designated derivative
                   instruments and related risks, including how the entity manages those risks. Explain the use
                   of any alternative disclosures for trading activities, if applicable (FASB ASC 815-10-50-4F).
12                 Provide a description on the existence and nature of credit-risk related contingent features
                   and the circumstances in which the features could be triggered in derivative instruments.
                   Include disclosures related to posted collateral, as well as additional collateral required and
                   fair value of assets needed to settle the instrument immediately if the credit-risk contingent
                   features were triggered (FASB ASC 815-10-50-4H).
13                 Provide disclosures of the entity's accounting policy to offset or not offset derivative asset
                   positions on the Balance Sheet under a master netting agreement. Describe the accounting
                   policy to offset cash collateral positions arising from derivative instrument(s) under a master
                   netting agreement against net derivative positions (FASB ASC 815-10-50-7).
14                 Disclose amounts recognized for the right to reclaim cash collateral or the obligation to return
                   cash collateral under master netting arrangements (FASB ASC 815-10-50-8).
15                 Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                   the significant accounting policies pertaining to this note.




                                                                                                            - 33 -
                                                                                                                                                                                  11/16/2016 06:26:40

                                                                                 U.S. Department of the Treasury
                                                                                   Bureau of the Fiscal Service
                                                                             Governmentwide Financial Report System
                                                                                    GF006 - FR Notes Report

     Note: 09          Accounts Payable                                                                                           Fiscal Year: 2016               Period: SEPTEMBER
   Entity: 9100        Department of Education                                                                                    Agency Notes:        9

  Status: Complete                        The accompanying notes are an integral part of these financial statements.           I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                        NB    Account     2016 - SEPTEMBER       2015 - SEPTEMBER
                                                                                Type
Accounts payable                                                         C        L                     3,966                 3,695
                                                                             Variance:                      0                     0           Rounding Method: Millions       Decimal: Zero
Line Status Line Description         2016 - SEPTEMBER             2015 - SEPTEMBER                Previously Rptd         Line Item Changes
 1          Accounts Payable                              3,966                       3,695                       3,695                            0
            Total                                         3,966                       3,695                       3,695                            0




                                                                                                    - 34 -
                                                                                                                                                                                  11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

     Note: 09            Accounts Payable                                                                                                 Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100        Department of Education                                                                                          Agency Notes:    9

  Status: Complete                          The accompanying notes are an integral part of these financial statements.                 I = Inactive Line

Tab: Other Notes Info.

       Section: A             Section Name: Interest (SFFAS No.1, par. 81)                                No Data Flag: YES           Line Attributes: Dollars
                                                                                                                                    Rounding Method: Millions             Decimal: Zero
Line Status Line Description          NB      2016 - SEPTEMBER               2015 - SEPTEMBER C                 Previously Rptd C   Line Item Changes D
                                                                    C
 1              Interest accrued      N/A
                and owed to others




Tab: Text Data                          No Data Flag: YES
 Line                Question                                                                                             Answer
 1                   Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                     the significant accounting policies pertaining to this note.




                                                                                                             - 35 -
                                                                                                                                                                                      11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 10B        Treasury Securities Held by Government Trust Funds, Revolving Funds, and Special Funds                          Fiscal Year: 2016            Period: SEPTEMBER
  Entity: 9100         Department of Education                                                                                        Agency Notes:    N/A

  Status: Complete                         The accompanying notes are an integral part of these financial statements.              I = Inactive Line

Tab: Other Notes Info.

      Section: A            Section Name: Investments in Federal Debt securities                        No Data Flag: YES          Line Attributes: Dollars
                                                                                                                                 Rounding Method: User-Defined               Decimal: User-Defined
Line Status Line Description        NB        CY Par value of the                 CY Unamortized       CY Unamortized premium     CY Net Investment          PY Par Value of the PY Unamortized discount
                                                    investment                         Discount                                                                     investment
24                                 Debit
25                                 Debit
26                                 Debit
27           All other programs    Debit
             and funds
28           Total                  N/A

Line Status Line Description        NB            PY Unamortized              PY Net Investment
                                                       premium
24                                 Debit
25                                 Debit
26                                 Debit
27          All other programs     Debit
            and funds
28          Total                   N/A
Tab: Text Data                        No Data Flag: YES
 Line              Question                                                                                             Answer
 1                 Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                   the significant accounting policies pertaining to this note.




                                                                                                           - 36 -
                                                                                                                                                                                                 11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 11          Federal Employee and Veteran Benefits Payable-Liabilities for Benefits for Services Provided to Federal           Fiscal Year: 2016                 Period: SEPTEMBER
                       Employees (SFFAS
                                                                                                                                         Agency Notes:        9
   Entity: 9100        Department of Education
                                                                                                                                      I = Inactive Line
  Status: Complete                       The accompanying notes are an integral part of these financial statements.

Tab: Line Item Notes
Closing Package Line Description                                           NB    Account     2016 - SEPTEMBER         2015 - SEPTEMBER
                                                                                   Type
Federal employee and veteran benefits payable                              C         L                            1                    16
                                                                                Variance:                         0                     0            Rounding Method: Millions              Decimal: Zero
Line Status Line Description          2016 - SEPTEMBER               2015 - SEPTEMBER                 Previously Rptd            Line Item Changes
 1          Pension and accrued
            benefits
 2          Post-retirement health
            and accrued benefits
 3          Veterans
            compensation and
            burial benefits
 4          Life insurance and
            accrued benefits
 5          Federal Employees'                                  1                            16                           16                              0
            Compensation Act
            (FECA) benefits
 6          Liability for other
            retirement and
            postemployment
            benefits
            Total                                                1                           16                            16                             0
Threshold

 Line Description                                              Question                                                               Answer
 Line Item Notes - Federal Employees' Compensation Act         Please provide explanations for any amounts that have                  The change is attributed to an error in the FY 2016 FECA liability balance.
 (FECA) benefits (2016 - SEPTEMBER)                            changed by 10% or more and or greater than 500,000 between
                                                               the current fiscal year and prior fiscal year. (unaudited)




                                                                                                         - 37 -
                                                                                                                                                                                  11/16/2016 06:26:40

                                                                                        U.S. Department of the Treasury
                                                                                          Bureau of the Fiscal Service
                                                                                    Governmentwide Financial Report System
                                                                                           GF006 - FR Notes Report

     Note: 11             Federal Employee and Veteran Benefits Payable-Liabilities for Benefits for Services Provided to Federal         Fiscal Year: 2016      Period: SEPTEMBER
                          Employees (SFFAS
                                                                                                                                          Agency Notes:    9
     Entity: 9100         Department of Education
                                                                                                                                       I = Inactive Line
  Status: Complete                               The accompanying notes are an integral part of these financial statements.

Tab: Other Notes Info.

       Section: A              Section Name: Pension and Accrued Benefits Liability                      No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                    Rounding Method: Millions             Decimal: Zero
Line Status Line Description             NB        2016 - SEPTEMBER             2015 - SEPTEMBER                Previously Rptd      Line Item Changes
 1              Pension and             Credit
                accrued benefits
                liability-beginning
                of period (SFFAS
                No. 33, pars. 22-
                23)
 2              Prior-period            Credit
                adjustments (not
                restated)
 3              Prior (and past)        Credit
                service costs from
                plan amendments
                (or the initiation of
                a new plan) during
                the period
 4              Normal costs            Credit
                (SFFAS No. 5, par.
                72)
 5              Interest on pension     Credit
                liability during the
                period (SFFAS No.
                k, par. 72)
 6        I     Prior (and past)        Credit
                service cost (from
                the initiation of a
                new plan)
 7              Actuarial               Credit
                (gains)/losses (from
                experience)
                (SFFAS No. 33,
                pars. 22-23)
 8              Actuarial               Credit
                (gains)/losses (from
                assumption
                changes) (SFFAS
                No. 33, pars. 22-
                23)
 9              Other (SFFAS No.        Credit
                33, pars. 22-23)


                                                                                                            - 38 -
                                                                                                                                                                                 11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 11            Federal Employee and Veteran Benefits Payable-Liabilities for Benefits for Services Provided to Federal         Fiscal Year: 2016      Period: SEPTEMBER
                         Employees (SFFAS
                                                                                                                                         Agency Notes:    9
     Entity: 9100        Department of Education
                                                                                                                                      I = Inactive Line
  Status: Complete                             The accompanying notes are an integral part of these financial statements.


       Section: A             Section Name: Pension and Accrued Benefits Liability                      No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                   Rounding Method: Millions             Decimal: Zero
Line Status Line Description           NB        2016 - SEPTEMBER             2015 - SEPTEMBER                 Previously Rptd      Line Item Changes
10              Total pension          N/A
                expense (SFFAS
                No. 5, par.72)
11              Less benefits paid    Debit
                (SFFAS No. 33,
                pars. 22-23)
12              Pension and            N/A
                accrued benefits
                liability-end of
                period (SFFAS No.
                3, pars. 22-23)
       Section: B             Section Name: Pension Liability Long-Term Significant Assumptions         No Data Flag: YES            Line Attributes: Percent
                                            Used in the Current FY Valuation
Line Status Line Description           NB        2016 - SEPTEMBER             2015 - SEPTEMBER                 Previously Rptd      Line Item Changes
 1              Rate of interest       N/A
                (except OPM)
 2              Rate of inflation      N/A
                (except OPM)
 3              Projected salary       N/A
                increases (except
                OPM)



       Section: C             Section Name: Post-retirement Health and Accrued Benefits                 No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                   Rounding Method: Millions             Decimal: Zero
Line Status Line Description           NB        2016 - SEPTEMBER             2015 - SEPTEMBER                 Previously Rptd      Line Item Changes
 1              Post-retirement       Credit
                health and accrued
                benefits liability-
                beginning of period
                (SFFAS No. 33,
                par.22-23)
 2              Prior-period          Credit
                adjustments (not
                restated) (SFFAS
                No. 5, par. 88)
 3              Prior (and past)      Credit


                                                                                                           - 39 -
                                                                                                                                                                                  11/16/2016 06:26:40

                                                                                        U.S. Department of the Treasury
                                                                                          Bureau of the Fiscal Service
                                                                                    Governmentwide Financial Report System
                                                                                           GF006 - FR Notes Report

     Note: 11             Federal Employee and Veteran Benefits Payable-Liabilities for Benefits for Services Provided to Federal         Fiscal Year: 2016      Period: SEPTEMBER
                          Employees (SFFAS
                                                                                                                                          Agency Notes:    9
     Entity: 9100         Department of Education
                                                                                                                                       I = Inactive Line
  Status: Complete                               The accompanying notes are an integral part of these financial statements.


       Section: C              Section Name: Post-retirement Health and Accrued Benefits                 No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                    Rounding Method: Millions             Decimal: Zero
Line Status Line Description             NB        2016 - SEPTEMBER             2015 - SEPTEMBER                Previously Rptd      Line Item Changes
                service costs from
                plan amendments
                (or the initiation of
                a new plan) during
                the period
 4              Normal costs            Credit
                (SSFAS No. 5, par.
                88)
 5              Interest on liability   Credit
                (SSFAS No. 5, par.
                88)
 6              Actuarial               Credit
                (gains)/losses (from
                experience)
                (SFFAS No. 33,
                pars. 22-23)
 7              Actuarial               Credit
                (gains)/losses (from
                assumption
                changes) (SFFAS
                No. 33, pars. 22-
                23)
 8              Other (SSFAS No.        Credit
                5, par. 88)
 9              Total post-              N/A
                retirement health
                benefits expense
                (SFFAS No. 33,
                pars. 22-23)
10              Less claims paid        Debit
                (SFFAS No. 33,
                pars. 22-23)
11              Post-retirement          N/A
                health and accrued
                benefits liability-
                end of period
                (SFFAS No. 33,
                pars. 22-23)




                                                                                                            - 40 -
                                                                                                                                                                                      11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

     Note: 11             Federal Employee and Veteran Benefits Payable-Liabilities for Benefits for Services Provided to Federal        Fiscal Year: 2016          Period: SEPTEMBER
                          Employees (SFFAS
                                                                                                                                         Agency Notes:     9
     Entity: 9100         Department of Education
                                                                                                                                      I = Inactive Line
  Status: Complete                            The accompanying notes are an integral part of these financial statements.


       Section: D              Section Name: Post-retirement Health Liability Significant                No Data Flag: YES            Line Attributes: Percent
                                             Assumptions Used in Determining the Current FY
                                             Valuation
Line Status Line Description           NB       2016 - SEPTEMBER              2015 - SEPTEMBER                  Previously Rptd      Line Item Changes
 1              Rate of Interest      N/A
 2              Single equivalent     N/A
                rate of medical
                trend
 3              Ultimate rate of      N/A
                medical trend



       Section: F              Section Name: Other                                                       No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                    Rounding Method: User-Defined            Decimal: User-Defined
Line Status Line Description           NB       2016 - SEPTEMBER              2015 - SEPTEMBER                  Previously Rptd      Line Item Changes
 1              Nonmarketable         Debit
                Treasury securities
                held by the Thrift
                Savings Plan (TSP)
                Fund
 2              Total assets of       Debit
                pension (SFFAS
                No.5, par. 68)
 3              Market value of       Debit
                investments in
                market-based and
                marketable
                securities included
                in line 2 (SFFAS
                No. 5, par.68)
 4              Total assets of       Debit
                other retirement
                benefit plans
                (SFFAS No. 5, par.
                85)
 5              Market value of       Debit
                investments in
                market-based and
                marketable
                securities included
                in line 4 (SFFAS
                no. 5, par.85)


                                                                                                            - 41 -
                                                                                                                                                                                      11/16/2016 06:26:40

                                                                                        U.S. Department of the Treasury
                                                                                          Bureau of the Fiscal Service
                                                                                    Governmentwide Financial Report System
                                                                                           GF006 - FR Notes Report

     Note: 11             Federal Employee and Veteran Benefits Payable-Liabilities for Benefits for Services Provided to Federal         Fiscal Year: 2016         Period: SEPTEMBER
                          Employees (SFFAS
                                                                                                                                          Agency Notes:    9
     Entity: 9100         Department of Education
                                                                                                                                       I = Inactive Line
  Status: Complete                               The accompanying notes are an integral part of these financial statements.


       Section: F              Section Name: Other                                                       No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                    Rounding Method: User-Defined            Decimal: User-Defined
Line Status Line Description             NB        2016 - SEPTEMBER             2015 - SEPTEMBER                Previously Rptd      Line Item Changes
 6              Projected future        Credit
                payments for
                pension benefits
                (VA only) (SFFAS
                No. 5, par. 148)
 7              Average medical         Credit
                cost per year (VA
                only) (SFFAS No.
                5, pars. 182-184)

       Section: L              Section Name: Civilian Life Insurance and Accrued Benefits                No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                    Rounding Method: Millions                Decimal: Zero
Line Status Line Description             NB        2016 - SEPTEMBER             2015 - SEPTEMBER                Previously Rptd      Line Item Changes
 1              Actuarial accrued       Credit
                life insurance
                benefits liability-
                beginning of period
                (SFFAS No. 33,
                pars. 22-23)
 2              Prior-period            Credit
                adjustments (not
                restated)
 3              Prior (and past)        Credit
                service costs from
                plan amendments
                (or the initiation of
                a new plan) during
                the period
 4              New entrant             Credit
                expense
 5              Interest on life        Credit
                insurance liability
                during the period
                (SFFAS No. 33,
                pars. 22-23)
 6              Actuarial               Credit
                (gains)/losses (from
                experience)
                (SFFAS No. 33,



                                                                                                            - 42 -
                                                                                                                                                                                  11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

     Note: 11             Federal Employee and Veteran Benefits Payable-Liabilities for Benefits for Services Provided to Federal         Fiscal Year: 2016      Period: SEPTEMBER
                          Employees (SFFAS
                                                                                                                                          Agency Notes:    9
     Entity: 9100         Department of Education
                                                                                                                                       I = Inactive Line
  Status: Complete                            The accompanying notes are an integral part of these financial statements.


       Section: L              Section Name: Civilian Life Insurance and Accrued Benefits                No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                    Rounding Method: Millions             Decimal: Zero
Line Status Line Description           NB       2016 - SEPTEMBER              2015 - SEPTEMBER                  Previously Rptd      Line Item Changes
                pars. 22-23)
 7              Actuarial            Credit
                (gains)/losses (from
                assumption
                changes) (SFFAS
                No. 33, pars. 22-
                23)
 8              Other (SFFAS No. Credit
                33, pars. 22-23)
 9              Total life insurance  N/A
                expense (SFFAS
                No. 33, pars. 22-
                23)
10              Less costs paid      Debit
                (SFFAS No. 33,
                pars. 22-23)
11              Actuarial accrued     N/A
                life insurance
                benefits liability-
                end of period
                (SFFAS No. 33,
                pars. 22-23)
       Section: M              Section Name: Civilian Actuarial Life Insurance Liability                 No Data Flag: YES            Line Attributes: Percent


Line Status Line Description           NB       2016 - SEPTEMBER              2015 - SEPTEMBER                  Previously Rptd      Line Item Changes
 1              Rate of interest      N/A
 2              Rate of increases     N/A
                in salary




                                                                                                            - 43 -
                                                                                                                                                                         11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 11          Federal Employee and Veteran Benefits Payable-Liabilities for Benefits for Services Provided to Federal      Fiscal Year: 2016    Period: SEPTEMBER
                       Employees (SFFAS
                                                                                                                                    Agency Notes:    9
    Entity: 9100       Department of Education
                                                                                                                                 I = Inactive Line
 Status: Complete                         The accompanying notes are an integral part of these financial statements.

Tab: Text Data                        No Data Flag: YES
Line               Question                                                                                             Answer
1                  Provide the following information as it relates to the future policy benefits for noncancelable
                   and renewable life insurance (other than whole life) (SFFAS No. 5, par. 110, table 9): a
                   description of each component of the liability for future policy benefits; an explanation of its
                   projected use; and any other potential uses.
2                  For pension plans that differ from the Civil Service Retirement System (CSRS), the Federal
                   Employee Retirement System (FERS), and the Military Retirement System (MRS), describe
                   how and why the assumptions differ from one of those plans (SFFAS No. 5, par. 67).
3                  Provide the long-term projection of the significant economic assumptions used in
                   determining pension liability and
                   the related expense (examples of assumptions: actuarial, economic, interest rate, and trend).
4                  Provide a description of the changes in the significant assumptions used in determining
                   pension liability and the
                   related expense (SFFAS No. 33, par.19).
5                  Provide the long-term projection of the significant economic assumptions used in
                   determining the postretirement
                   health benefits liability and the related expense (example of assumptions: actuarial,
                   economic, interest rate, and
                   trend) (SFFAS No. 5, par. 83).
6                  Provide a description of the changes in the significant assumptions used in determining the
                   post-retirement health
                   benefits liability and the related expense (SFFAS No. 33, par. 19).
7                  Provide the reason for significant changes in the actuarial liability for the DOD Military
                   Retirement Fund for the
                   current FY (DOD only). Describe those that relate to significant changes in assumptions, if
                   any (SFFAS No. 33,
                   par. 19).
8                  Provide the reason for significant changes in the actuarial liability for the DOD Medicare
                   Eligible Retiree Health
                   Care Fund (DOD only). Describe those that relate to significant changes in assumptions, if
                   any (SFFAS No. 33, par.
                   19).
9                  Provide the reason for significant changes in the actuarial liability for veterans compensation
                   and burial benefits
                   (VA only). Describe those that relate to significant changes in assumptions, if any (SFFAS
                   No. 33, par. 19).
10                 Provide the source of the information entered for "Line Item Notes" tab, lines 4, 5, and 6.
11                 Provide the source for the components of pension expense entered in Section A.
12                 Provide the source for the interest rate for pension expense entered in Section B.
13                 Provide the source for the components of post-retirement expense entered in Section C.
14                 Provide the source for the interest rate for post-retirement expense entered in Section D.
17                 Provide any other relevant information pertaining to this note. At a minimum, describe briefly


                                                                                                            - 44 -
                                                                                                                                                                      11/16/2016 06:26:40

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                      GF006 - FR Notes Report

   Note: 11         Federal Employee and Veteran Benefits Payable-Liabilities for Benefits for Services Provided to Federal      Fiscal Year: 2016    Period: SEPTEMBER
                    Employees (SFFAS
                                                                                                                                 Agency Notes:    9
  Entity: 9100       Department of Education
                                                                                                                              I = Inactive Line
 Status: Complete                       The accompanying notes are an integral part of these financial statements.

Tab: Text Data
Line             Question                                                                                            Answer
                 the significant
                 accounting policies pertaining to this note. (SFFAS No. 32, par. 29)




                                                                                                      - 45 -
                                                                                                                                                                                  11/16/2016 06:26:40

                                                                                  U.S. Department of the Treasury
                                                                                    Bureau of the Fiscal Service
                                                                              Governmentwide Financial Report System
                                                                                     GF006 - FR Notes Report

      Note: 12          Environmental and Disposal Liabilities                                                                    Fiscal Year: 2016               Period: SEPTEMBER
   Entity: 9100          Department of Education                                                                                  Agency Notes:      N/A

  Status: Complete                         The accompanying notes are an integral part of these financial statements.          I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                         NB    Account     2016 - SEPTEMBER       2015 - SEPTEMBER
                                                                                 Type
Environmental and disposal liabilities                                    C        L                          0                  0
                                                                              Variance:                       0                  0            Rounding Method: Millions       Decimal: Zero
Line Status Line Description             2016 - SEPTEMBER          2015 - SEPTEMBER                Previously Rptd        Line Item Changes
 10
 11
 12
 13
 14
 15          Other environmental
             and disposal Llabilities
             Total




                                                                                                     - 46 -
                                                                                                                                                                                     11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 12          Environmental and Disposal Liabilities                                                                           Fiscal Year: 2016          Period: SEPTEMBER
     Entity: 9100       Department of Education                                                                                         Agency Notes:    N/A

  Status: Complete                          The accompanying notes are an integral part of these financial statements.               I = Inactive Line

Tab: Other Notes Info.

       Section: A            Section Name: Other Related Information                                    No Data Flag: YES            Line Attributes: Dollars
                                                                                                                                   Rounding Method: User-Defined            Decimal: User-Defined
Line Status Line Description         NB       2016 - SEPTEMBER               2015 - SEPTEMBER                   Previously Rptd     Line Item Changes
 1          Unrecognized            Debit
            portion of
            estimated total
            cleanup costs
            associated with
            general property,
            plant, and
            equipment
 2          Unrecognized            Debit
            portion of est total
            asbestos-related
            cleanup costs
            assoc with gen
            PP&E SFFAS No6
            par 109 Bulletin
            2006-1
 3          Asbestos-related        Debit
            environmental and
            disposal liability
            (SFFAS No. 32,
            par. 25 and
            Technical Bulletin
            2006-1, par. 48))
Tab: Text Data                         No Data Flag: YES
 Line               Question                                                                                              Answer
 1                  List the applicable laws and regulations covering cleanup requirements as they relate to the
                    activity identified in the audited financial statements. (SFFAS No. 6, par. 107)
 2                  Provide a description of the type of environmental and disposal liabilties identified. (SFFAS
                    No. 32, par. 25)
 3                  Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                    the significant accounting policies pertaining to this note. (SFFAS No. 32, par. 29)




                                                                                                           - 47 -
                                                                                                                                                                                           11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 13          Benefits Due and Payable                                                                                            Fiscal Year: 2016               Period: SEPTEMBER
   Entity: 9100        Department of Education                                                                                             Agency Notes:      N/A

  Status: Complete                        The accompanying notes are an integral part of these financial statements.                    I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                            NB    Account     2016 - SEPTEMBER          2015 - SEPTEMBER
                                                                                    Type
Benefits due and payable                                                    C         L                             0                     0
                                                                                 Variance:                          0                     0            Rounding Method: Millions       Decimal: Zero
Line Status Line Description           2016 - SEPTEMBER              2015 - SEPTEMBER                   Previously Rptd            Line Item Changes
 9          Other Entitlement
            BenefitsDue and
            Payable
            Total

Tab: Text Data                        No Data Flag: YES
 Line              Question                                                                                               Answer
 1                 Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                   the significant accounting policies pertaining to this note. (SFFAS No. 32, par. 29)




                                                                                                          - 48 -
                                                                                                                                                                                              11/16/2016 06:26:40

                                                                                        U.S. Department of the Treasury
                                                                                          Bureau of the Fiscal Service
                                                                                    Governmentwide Financial Report System
                                                                                           GF006 - FR Notes Report

     Note: 14            Insurance and Guarantee Program Liabilities                                                                          Fiscal Year: 2016               Period: SEPTEMBER
     Entity: 9100         Department of Education                                                                                             Agency Notes:      N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.                    I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                               NB    Account      2016 - SEPTEMBER         2015 - SEPTEMBER
                                                                                       Type
Insurance and guarantee program liabilities                                     C        L                             0                     0
                                                                                    Variance:                          0                     0            Rounding Method: Millions       Decimal: Zero
Line Status Line Description              2016 - SEPTEMBER              2015 - SEPTEMBER                   Previously Rptd            Line Item Changes
 7              Other insurance
                programs
 8
 9
              Total

Tab: Text Data                           No Data Flag: YES
 Line                 Question                                                                                               Answer
 1                    Provide a description for the type of insurance or guarantee programs identified in the "Line
                      Item Notes" tab.
 2                    Provide the name, description, and the related amounts of the insurance or guarantee
                      programs entered on the line titled "Other insurance programs" in the "Line Item Notes" tab.
 3                    Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                      the significant
                      accounting policies pertaining to this note. (SFFAS No. 32, par. 29)




                                                                                                              - 49 -
                                                                                                                                                                                                11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

      Note: 15            Other Liabilities                                                                                               Fiscal Year: 2016               Period: SEPTEMBER
   Entity: 9100            Department of Education                                                                                        Agency Notes:        9

  Status: Complete                              The accompanying notes are an integral part of these financial statements.             I = Inactive Line

Tab: Line Item Notes
Closing Package Line Description                                              NB    Account     2016 - SEPTEMBER       2015 - SEPTEMBER
                                                                                      Type
Other liabilities                                                              C        L                     4,084                   2,532
                                                                                   Variance:                      0                       0           Rounding Method: Millions            Decimal: Zero
Line Status Line Description                  2016 - SEPTEMBER           2015 - SEPTEMBER               Previously Rptd           Line Item Changes
  1              Deferred revenue                                   9                          18                            18                            0
  2              Accrued wages and                                 19                          15                            15                            0
                 benefits
  4              Other debt
  6              Legal and other
                 contingencies
  7              Grant payments due to                           3,760                      2,377                       2,377                              0
                 State and local
                 governments and
                 others
  8              Other employee and
                 actuarial liabilities
 11              Custodial liabilities
 12              Accrued annual leave                              40                          38                            38                            0
 14              Advances and
                 prepayments
 15              Farm and other
                 subsidies
 16              Deposit funds                                    256                          84                            84                            0
 17              Non-federal power
                 projects capital lease
                 liabilities as well as
                 disposal liabilities
 18              Derivative liabilities
 19
 20
 21
 22            Other Liabilities
               Total                                             4,084                       2,532                        2,532                            0
Threshold

 Line Description                                                   Question                                                           Answer
 Line Item Notes - Deferred revenue (2016 - SEPTEMBER)              Please provide explanations for any amounts that have              The decrease is primarily the result of a decrease in excess interest
                                                                    changed by 10% or more and or greater than 500,000 between         recapture (negative special allowance payments) due to decreasing lender-
                                                                    the current fiscal year and prior fiscal year. (Unaudited)         held loan portfolio.


                                                                                                          - 50 -
                                                                                                                                                                                      11/16/2016 06:26:40

                                                                                 U.S. Department of the Treasury
                                                                                   Bureau of the Fiscal Service
                                                                             Governmentwide Financial Report System
                                                                                    GF006 - FR Notes Report

   Note: 15           Other Liabilities                                                                                       Fiscal Year: 2016                Period: SEPTEMBER
  Entity: 9100        Department of Education                                                                                 Agency Notes:      9

 Status: Complete                         The accompanying notes are an integral part of these financial statements.       I = Inactive Line



Threshold

Line Description                                              Question                                                     Answer
Line Item Notes - Accrued wages and benefits (2016 -          Please provide explanations for any amounts that have        The increase is due to differences in year-end accrued payroll estimates.
SEPTEMBER)                                                    changed by 10% or more and or greater than 500,000 between
                                                              the current fiscal year and prior fiscal year. (Unaudited)
Line Item Notes - Grant payments due to State and local       Please provide explanations for any amounts that have        Increase is primarily attributed to business process changes at the grantees
governments and others (2016 - SEPTEMBER)                     changed by 10% or more and or greater than 500,000 between   being sampled.
                                                              the current fiscal year and prior fiscal year. (Unaudited)
Line Item Notes - Deposit funds (2016 - SEPTEMBER)            Please provide explanations for any amounts that have        The change is due to an increase in HEA Title IV Financial Guarantee
                                                              changed by 10% or more and or greater than 500,000 between   Deposits.
                                                              the current fiscal year and prior fiscal year. (Unaudited)




                                                                                                    - 51 -
                                                                                                                                                                                                 11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 15            Other Liabilities                                                                                               Fiscal Year: 2016                Period: SEPTEMBER
     Entity: 9100        Department of Education                                                                                         Agency Notes:      9

  Status: Complete                            The accompanying notes are an integral part of these financial statements.              I = Inactive Line

Tab: Other Notes Info.

       Section: A             Section Name: Other Information                                                                        Line Attributes: Dollars
                                                                                                                                   Rounding Method: Millions                           Decimal: Zero
Line Status Line Description           NB       2016 - SEPTEMBER             2015 - SEPTEMBER                  Previously Rptd
 8              Grant payments       Credit                       3,760                       2,377                        2,377
                due to State and
                local government
                as well as others
                (Transportation,
                HHS, and
                Education only)
Threshold
 Line Description                                                 Question                                                            Answer
 Other Notes Info - Grant payments due to State and local         Please provide explanations for any amounts that have               Increase is primarily attributed to business process changes at the grantees
 government as well as others (Transportation, HHS, and           changed by 10% or more and or greater than 500,000                  being sampled.
 Education only) (2016 - SEPTEMBER)                               between the current fiscal year and prior fiscal year.
                                                                  (Unaudited)




                                                                                                           - 52 -
                                                                                                                                                                                                         11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

     Note: 15          Other Liabilities                                                                                                   Fiscal Year: 2016                    Period: SEPTEMBER
    Entity: 9100       Department of Education                                                                                              Agency Notes:        9

 Status: Complete                          The accompanying notes are an integral part of these financial statements.                   I = Inactive Line

Tab: Text Data
Line               Question                                                                                             Answer
1                  Provide more details on the liabilities reported on the "Line Item Notes" tab for each line 1        Other liabilities consists of liabilities not recognized in specific categories, including (but
                   through 21 by including a description of the significant related amounts and providing the           is not limited to) liabilities related to grants payable, and accrued liabilities related to
                   page number and the documentation support by email to FRD's central mailbox at                       ongoing continuous expenses such as Federal employee salaries and accrued
                   financial.reports@fiscal.treasury.gov if amounts identified cannot be directly traced to the         employee annual leave.
                   agency's financial report.
2                  Provide a description and related amounts for balances that exceed $50 million on the Line
                   Item Notes tab, line 21, "Other liabilities," and provide the page number of the agency's
                   financial report where the amount is identified.
3                  Provide the amounts that are designated as either non-hedging or hedging instruments.
4                  Provide disclosures for the objectives for holding or issuing derivatives, the context needed
                   to understand these objectives, as well as strategies for achieving these objectives (FASB
                   ASC 815-10-50-1A).
5                  Provide disclosures for the volume of derivative activity (FASB ASC 815-10-50-1B).
6                  Provide disclosures on the location of fair value amounts of derivative instruments (both
                   assets and liabilities, respectively) on the Balance Sheet (FASB ASC 815-10-50-4A).
7                  Provide disclosures on the location of gains or losses recognized into earnings (FASB ASC
                   815-10-50-4A).
8                  Provide the effective portion of gains and losses, by contract type, on derivative instruments
                   classified as either cashflow or net investment hedges that are being reclassified into
                   earnings during the current period (FASB ASC 815-10-50-4C).
9                  Provide the effective portion of gains and losses, by contract type, on derivative instruments
                   classified as either cashflow or net investment hedges that are recognized in other
                   comprehensive income during the current period (FASB ASC 815-10-50-4C).
10                 Provide the portion of gains and losses, by contract type, on derivative instruments classified
                   as either cashflow or net investment hedges that represent the amount of the hedges?
                   ineffectiveness or the amount, if any, excluded from the assessment of the hedge
                   effectiveness (FASB ASC 815-10-50-4C).
11                 Provide a description of the nature of trading activities for non-hedge designated derivative
                   instruments and related risks, including how the entity manages those risks. Explain the use
                   of any alertnative disclosures for trading activities, if applicable (FASB ASC 815-10-50-4F).
12                 Provide a description on the existence and nature of credit-risk related contingent features
                   and the circumstances in which the features could be triggered in derivative instruments that
                   are in a net liability position at the end of the reporting period. Include disclosures related to
                   posted collateral, as well as additional collateral required and fair value of assets needed to
                   settle the instrument immediately if the credit-risk contingent features were triggered (FASB
                   ASC 815-10-50-7).
13                 Provide disclosures of the entity?s accouting policy to offset or not offset derivative asset
                   and liability positions on the Balance Sheet under a master netting agreement. Describe the
                   accounting policy to offset cash collateral positions arising from derivative instrument(s)
                   under a master netting agreement against net derivative positions (FASB ASC 815-10-50-
                   8).
14                 Disclose amounts recognized for the right to reclaim cash collateral or the obligation to return



                                                                                                              - 53 -
                                                                                                                                                                   11/16/2016 06:26:40

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                      GF006 - FR Notes Report

     Note: 15       Other Liabilities                                                                                         Fiscal Year: 2016    Period: SEPTEMBER
  Entity: 9100       Department of Education                                                                                  Agency Notes:    9

 Status: Complete                       The accompanying notes are an integral part of these financial statements.         I = Inactive Line

Tab: Text Data
Line             Question                                                                                         Answer
                 cash collateral under master netting arrangements (FASB ASC 815-10-50-8).
15               Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                 the significant
                 accounting policies pertaining to this note.




                                                                                                         - 54 -
                                                                                                                                                                     11/16/2016 06:26:40

                                                                                 U.S. Department of the Treasury
                                                                                   Bureau of the Fiscal Service
                                                                             Governmentwide Financial Report System
                                                                                    GF006 - FR Notes Report

     Note: 17           Prior-Period Adjustments                                                                             Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100       Department of Education                                                                              Agency Notes:    N/A

  Status: Complete                        The accompanying notes are an integral part of these financial statements.      I = Inactive Line

Tab: Other Notes Info.

       Section: A            Section Name: Non-Federal Prior-Period Adjustments-Restated          No Data Flag: YES      Line Attributes: Dollars
                                                                                                                       Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A
       Section: B            Section Name: Federal Prior-Period Adjustments-Restated              No Data Flag: YES      Line Attributes: Dollars
                                                                                                                       Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A




                                                                                                    - 55 -
                                                                                                                                                                     11/16/2016 06:26:40

                                                                                  U.S. Department of the Treasury
                                                                                    Bureau of the Fiscal Service
                                                                              Governmentwide Financial Report System
                                                                                     GF006 - FR Notes Report

     Note: 17           Prior-Period Adjustments                                                                             Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100       Department of Education                                                                              Agency Notes:    N/A

  Status: Complete                        The accompanying notes are an integral part of these financial statements.      I = Inactive Line


       Section: C            Section Name: Non-Federal Correction of Errors                       No Data Flag: YES      Line Attributes: Dollars
                                                                                                                       Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A
       Section: D            Section Name: Federal Correction of Errors                           No Data Flag: YES      Line Attributes: Dollars
                                                                                                                       Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A




                                                                                                    - 56 -
                                                                                                                                                                     11/16/2016 06:26:40

                                                                                 U.S. Department of the Treasury
                                                                                   Bureau of the Fiscal Service
                                                                             Governmentwide Financial Report System
                                                                                    GF006 - FR Notes Report

     Note: 17           Prior-Period Adjustments                                                                             Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100       Department of Education                                                                              Agency Notes:    N/A

  Status: Complete                        The accompanying notes are an integral part of these financial statements.      I = Inactive Line


       Section: E            Section Name: Non-Federal Immaterial Errors                          No Data Flag: YES      Line Attributes: Dollars
                                                                                                                       Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A
       Section: F            Section Name: Federal Immaterial Errors                              No Data Flag: YES      Line Attributes: Dollars
                                                                                                                       Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A




                                                                                                    - 57 -
                                                                                                                                                                     11/16/2016 06:26:40

                                                                                 U.S. Department of the Treasury
                                                                                   Bureau of the Fiscal Service
                                                                             Governmentwide Financial Report System
                                                                                    GF006 - FR Notes Report

     Note: 17           Prior-Period Adjustments                                                                             Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100       Department of Education                                                                              Agency Notes:    N/A

  Status: Complete                        The accompanying notes are an integral part of these financial statements.      I = Inactive Line


       Section: G            Section Name: Closing Package Reclassifications/Adjustments          No Data Flag: YES      Line Attributes: Dollars
                                           (Financial Statements)                                                      Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A
       Section: H            Section Name: Closing Package Reclassifications/Adjustments          No Data Flag: YES      Line Attributes: Dollars
                                           (Notes)                                                                     Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A




                                                                                                    - 58 -
                                                                                                                                                                     11/16/2016 06:26:40

                                                                                 U.S. Department of the Treasury
                                                                                   Bureau of the Fiscal Service
                                                                             Governmentwide Financial Report System
                                                                                    GF006 - FR Notes Report

     Note: 17           Prior-Period Adjustments                                                                             Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100       Department of Education                                                                              Agency Notes:    N/A

  Status: Complete                        The accompanying notes are an integral part of these financial statements.      I = Inactive Line


       Section: I            Section Name: Non-federal Change in Accounting Principles            No Data Flag: YES      Line Attributes: Dollars
                                                                                                                       Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A
       Section: J            Section Name: Federal Change in Accounting Principles                No Data Flag: YES      Line Attributes: Dollars
                                                                                                                       Rounding Method: Millions             Decimal: Zero
Line Status Line Description        NB                Amount C
 1                                  N/A
 2                                  N/A
 3                                  N/A
 4                                  N/A
 5                                  N/A
 6                                  N/A
 7                                  N/A
 8                                  N/A
 9                                  N/A
10                                  N/A
11              Total               N/A




                                                                                                    - 59 -
                                                                                                                                                                        11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

    Note: 17          Prior-Period Adjustments                                                                                   Fiscal Year: 2016      Period: SEPTEMBER
    Entity: 9100       Department of Education                                                                                   Agency Notes:    N/A

 Status: Complete                         The accompanying notes are an integral part of these financial statements.          I = Inactive Line

Tab: Text Data                        No Data Flag: YES
Line               Question                                                                                          Answer
1                  Describe the restatements to the prior FY that resulted from correcting errors that occurred in
                   the prior FY (data reported in Sections A and B).
2                  Describe any errors that occurred in FYs preceding the prior FY that adjusted the prior-FY
                   beginning net position (data reported in Sections C and D).
3                  Describe any immaterial errors that occurred in the prior period(s) that were corrected
                   against the current FY operations (data reported in Sections E and F).
4                  Describe any reclassifications/adjustments of the prior FY reporting in the current FY Closing
                   Package-Financial Statements (data reported in Section G). Exclude amounts reported as
                   restatements in Sections A and B.
5                  Describe the adjustments to the current FY or prior FY beginning net position that resulted
                   from changes in accounting principles as reported on the Reclassified Statement of Changes
                   in Net Position, line 2.1 and/or line 3.1 (data reported in Sections I and J).
6                  Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                   the significant accounting policies pertaining to this note.
7                  Describe any reclassifications/adjustments of the prior FY reporting in the current FY Closing
                   Package-Notes (data reported in Section H).




                                                                                                           - 60 -
                                                                                                                                                                                      11/16/2016 06:26:40

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                        GF006 - FR Notes Report

     Note: 18              Contingencies                                                                                             Fiscal Year: 2016             Period: SEPTEMBER
     Entity: 9100          Department of Education                                                                                   Agency Notes:    14

  Status: Complete                            The accompanying notes are an integral part of these financial statements.          I = Inactive Line

Tab: Other Notes Info.

       Section: A              Section Name: Insurance Contingencies (Reasonably Possible Only)       No Data Flag: YES          Line Attributes: Dollars
                                                                                                                               Rounding Method: User-Defined                 Decimal: User-Defined
Line Status Line Description           NB       2016 - SEPTEMBER             2015 - SEPTEMBER               Previously Rptd      Line Item Changes
 4                                   Credit
 5                                   Credit
 6                                   Credit
 7                                   Credit
 8                                   Credit
 9              Other insurance      Credit
                contingencies
10              Total                 N/A
       Section: B              Section Name: Litigation, Claims and Assessments (SFFAS No. 5,         No Data Flag: YES          Line Attributes: Dollars
                                             pars. 35-42)                                                                      Rounding Method: User-Defined                 Decimal: User-Defined
Line Status Line Description           NB      CY Measured amount        CY Estimated Range(Low          CY Estimated Range CY Claim amount(Unable         PY Measured amount PY Estimated Range(Low
                                               (accrued estimated)                        end)                   (High end)     to determine loss)         (accrued estimated)                 end)
 1              Probable             Credit
 2              Reasonably           Credit
                Possible
Line Status Line Description           NB       PY Estimated Range        PY Claim amunt (unable
                                                        (High end)                 to determine)
 1              Probable             Credit
 2              Reasonably           Credit
                Possible
       Section: C              Section Name: Environmental Litigation, Claims, and Assessments        No Data Flag: YES          Line Attributes: Dollars
                                             (SFFAS No. 5, pars. 35-42)                                                        Rounding Method: User-Defined                 Decimal: User-Defined
Line Status Line Description           NB      CYAccrued/Estimated            CY Estimated Range         CY Estimated Range   CY Claim amunt(unable        PY Accrued/Estimated     PY Estimated Range
                                                          amount                      (Low end)                  (High end)           to determine)                    amount               (Low end)
 1              Probable             Credit
 2              Reasonably           Credit
                Possible
Line Status Line Description           NB       PY Estimated Range       PY Claim amount (unable
                                                     (High Range)                  to determine)
 1              Probable             Credit
 2              Reasonably           Credit
                Possible


                                                                                                        - 61 -
                                                                                                                                                                                                         11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 18          Contingencies                                                                                                          Fiscal Year: 2016                  Period: SEPTEMBER
     Entity: 9100       Department of Education                                                                                               Agency Notes:       14

  Status: Complete                          The accompanying notes are an integral part of these financial statements.                    I = Inactive Line


       Section: D            Section Name: Other Contingencies (SFFAS No. 5, pars. 35-42)                No Data Flag: YES               Line Attributes: Dollars
                                                                                                                                       Rounding Method: User-Defined                          Decimal: User-Defined
Line Status Line Description         NB               CY Probable         CY Reasonably Possible                     PY Probable    PY Reasonably Possible

 3                                 Credit
 4                                 Credit
 5                                 Credit




Tab: Text Data
 Line               Question                                                                                               Answer
 1                  Provide the nature of the insurance contingencies, including the range of loss. (SFFAS No.
                    5, par. 41)
 2                  Provide the nature of the litigation contingencies, including the range of loss for probably
                    liabilities (SFFAS No. 5, par. 39).
 3                  Provide the nature of the litigation contingencies including the range of loss for reasonably          The Department is involved in various lawsuits incidental to its operations. The
                    possible contingenies (SFFAS No. 5, pars. 40-41).                                                      Treasury Judgment Fund pays judgments resulting from litigation against the
                                                                                                                           Department. In the opinion of management, the ultimate resolution of pending litigation
                                                                                                                           will not have a material effect on the Department's financial position. The cost of loan
                                                                                                                           forgiveness related to the recent proprietary school closures reflected in the
                                                                                                                           accompanying financial statements is limited to claims received through September 30.
                                                                                                                           On November 1, 2016, the Department issued certain regulations that may affect the
                                                                                                                           amount to ultimately be paid related to these claims. The final disposition of claims filed
                                                                                                                           and those yet to be filed from schools closed before September 30 is not expected to
                                                                                                                           have a material impact to these financial statements.




 4                  Provide the total claim amount for cases assessed as "unable to determine" if significant.
                    Also, provide a statement on whether this materiality affects the financial statements.
                    (SFFAS No. 5, par. 42)
 5                  Describe the other claims that may derive from treaties or international agreements.
 6                  Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                    the significant accounting policies pertaining to this note.




                                                                                                            - 62 -
                                                                                                                                                                              11/16/2016 06:26:40

                                                                                       U.S. Department of the Treasury
                                                                                         Bureau of the Fiscal Service
                                                                                   Governmentwide Financial Report System
                                                                                          GF006 - FR Notes Report

     Note: 19              Commitments                                                                                                Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100          Department of Education                                                                                    Agency Notes:    14

  Status: Complete                              The accompanying notes are an integral part of these financial statements.         I = Inactive Line

Tab: Other Notes Info.

       Section: A               Section Name: Capital leases-Asset (SFFAS No. 6, pars. 18 & 20)         No Data Flag: YES         Line Attributes: Dollars
                                                                                                                                Rounding Method: Millions             Decimal: Zero
Line Status Line Description            NB                CY Federal              CY Non-Federal                   PY Federal       PY Non-Federal
 1              Building               Debit
 2              Land                   Debit
 3              Equipment              Debit
 4              Software license       Debit
 5              Other                  Debit
 6              Accumulated            Credit
                depreciation/amorti
                zation
 7              Net assets under        N/A
                capital leases
       Section: B               Section Name: Capital leases-Liability (SFFAS No. 5, par. 44)           No Data Flag: YES         Line Attributes: Dollars
                                                                                                                                Rounding Method: Millions             Decimal: Zero
Line Status Line Description            NB                 CY Federal             CY Non-Federal                   PY Federal       PY Non-Federal
 1              Future minimum         Credit
                lease programs
 2              Imputed interest       Debit
 3              Executory costs        Debit
                including any profit
 4              Total capital lease     N/A
                liability


       Section: C               Section Name: Commitments-Operating Leases and Undelivered                                        Line Attributes: Dollars
                                              Orders (SFFAC No. 1, par. 118)                                                    Rounding Method: Millions             Decimal: Zero
Line Status Line Description            NB                CY Federal              CY Non-Federal                   PY Federal      PY Non-Federal
 1              Operating leases       Credit                           486
 2              Undelivered orders     Credit                                                123,385
                (unpaid)
 3              Undelivered orders     Credit                                                    588
                (paid)




                                                                                                          - 63 -
                                                                                                                                                                             11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 19            Commitments                                                                                                 Fiscal Year: 2016      Period: SEPTEMBER
     Entity: 9100        Department of Education                                                                                     Agency Notes:    14

  Status: Complete                             The accompanying notes are an integral part of these financial statements.         I = Inactive Line


       Section: D             Section Name: Other Commitments (SFFAC No. 1, par. 118)                  No Data Flag: YES         Line Attributes: Dollars
                                                                                                                               Rounding Method: Millions             Decimal: Zero
Line Status Line Description           NB                CY Federal               CY Non-federal                  PY Federal       PY Non-federal
 1              Callable capital      Credit
                subscriptions for
                multilateral
                development banks
 2              Agriculture direct    Credit
                loans and
                guarantees
 3              Long-term satellite   Credit
                and systems
 4              Power purchase        Credit
                obligations
 5              Grant programs-       Credit
                Airport
                improvement
                program
 6              Fuel purchase         Credit
                obligations
 7              Conservation          Credit
                Reserve program
 8              Senior GSE            Credit
                Preferred Stock
                Purchase
                Agreement
 9              Other purchase        Credit
                obligations
10                                    Credit
11                                    Credit
12                                    Credit
13                                    Credit
14                                    Debit
15              Total                  N/A




                                                                                                         - 64 -
                                                                                                                                                                                             11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

    Note: 19          Commitments                                                                                                    Fiscal Year: 2016                 Period: SEPTEMBER
    Entity: 9100      Department of Education                                                                                        Agency Notes:      14

 Status: Complete                        The accompanying notes are an integral part of these financial statements.               I = Inactive Line

Tab: Text Data
Line               Question                                                                                        Answer
1                  Describe the lessee's leasing arrangements including the basis on which contingent rental       The Department leases office space from the General Services Administration (GSA).
                   payments are determined, the existence and terms of renewal or purchase options,                The lease contracts with GSA for privately and publicly owned buildings are operating
                   escalation clauses and restrictions imposed by lease agreements. (SFFAS No. 5, par. 43)         leases. Future lease payments are not accrued as liabilities, but expensed as incurred.


2                  Provide any other relevant information pertaining to this note. Explain any amounts listed in   Undelivered Orders (paid) includes any orders which have been prepaid or advanced
                   Section D in detail and reference the note, and/or location, in the agency?s Performance and    but for which delivery or performance has not yet occurred.
                   Accountability Report (PAR). At a minimum, describe briefly the significant accounting
                   policies pertaining to this note.




                                                                                                         - 65 -
                                                                                                                                                                                     11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                          Fiscal Year: 2016               Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                  Agency Notes:     N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.         I = Inactive Line

Tab: Other Notes Info.

      Section: A               Section Name: Assets-Current Year (SFFAS No. 27, par. 30.1, as                                  Line Attributes: Dollars
                                             amended by SFFAS No. 43)                                                        Rounding Method: Millions                       Decimal: Zero
Line Status Line Description           NB           Cash and other             Fund balance with       Inv in U. S. Treas.   Interest Receivable D          Other Federal Assets   Other Federal Assets
                                                 monetary assets D                   Treasury D Sec.(net of prem. & disc)                                 (Funds from Dedicated (Funds not From Dedicat
                                                                                                                         D                                            Collec) D                 Coll) D
19              Harbor                 N/A
                Maintenance Trust
                Fund
21                                     N/A
22                                     N/A
23                                     N/A
24                                     N/A
25                                     N/A
26              All other funds from   N/A                                                      1
                dedicated
                collections
27              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
28              Total                  N/A                                                      1




                                                                                                       - 66 -
                                                                                                                                                                                      11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                          Fiscal Year: 2016               Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                  Agency Notes:     N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.         I = Inactive Line


      Section: A               Section Name: Assets-Current Year (SFFAS No. 27, par. 30.1, as                                  Line Attributes: Dollars
                                             amended by SFFAS No. 43)                                                        Rounding Method: Millions                       Decimal: Zero
Line Status Line Description           NB        Other non-Federal                  Total assets
                                                         Assets D
19              Harbor                 N/A
                Maintenance Trust
                Fund
21                                     N/A
22                                     N/A
23                                     N/A
24                                     N/A
25                                     N/A
26              All other funds from   N/A                                                         1
                dedicated
                collections
27              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
28              Total                  N/A                                                         1
      Section: B               Section Name: Assets - Prior Year                                       No Data Flag: YES       Line Attributes: Dollars
                                                                                                                             Rounding Method: Millions                       Decimal: Zero
Line Status Line Description           NB           Cash and other             Fund balance with       Inv. in U.S. Treas.   Interest Receivable D           Other Federal assets  Other Federal Assets
                                                 monetary assets C                   Treasury D Sec.(net of prem. & disc.)                                (Funds From Dedicated (Funds not from Dedicat
                                                                                                                         D                                             Collec) D                Coll) D




                                                                                                         - 67 -
                                                                                                                                                                                      11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                          Fiscal Year: 2016               Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                  Agency Notes:     N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.         I = Inactive Line


      Section: B               Section Name: Assets - Prior Year                                     No Data Flag: YES         Line Attributes: Dollars
                                                                                                                             Rounding Method: Millions                       Decimal: Zero
Line Status Line Description           NB           Cash and other             Fund balance with       Inv. in U.S. Treas.   Interest Receivable D           Other Federal assets  Other Federal Assets
                                                 monetary assets C                   Treasury D Sec.(net of prem. & disc.)                                (Funds From Dedicated (Funds not from Dedicat
                                                                                                                         D                                             Collec) D                Coll) D
20      I                              N/A
21      I                              N/A
22      I                              N/A
23      I                              N/A
24      I                              N/A
25      I       All other funds from   N/A
                dedicated
                collections
26      I       Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
27              Total                  N/A

Line Status Line Description           NB        Other non-Federal                  Total assets
                                                          assets D
20      I                              N/A
21      I                              N/A
22      I                              N/A
23      I                              N/A
24      I                              N/A
25      I       All other funds from   N/A
                dedicated
                collections
26      I       Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
27              Total                  N/A




                                                                                                       - 68 -
                                                                                                                                                                                           11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                            Fiscal Year: 2016            Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                    Agency Notes:       N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.           I = Inactive Line


      Section: C               Section Name: Liabilities and Net Position-Current Year (SFFAS No.                                Line Attributes: Dollars
                                             27, par. 30.1, as amended by SFFAS No. 43)                                        Rounding Method: Millions                           Decimal: Zero
Line Status Line Description           NB           Benefits due and      Other Fed. Liab. (Funds    Other Fed. Liab. (Funds      Other non-Federal            Total liabilities        Ending net position C
                                                          payable C              From Dedicated          not from Dedicated              liabilities C
                                                                                   Collection) C                   Collec) C
19              Harbor                 N/A
                Maintenance Trust
                Fund
21                                     N/A
22                                     N/A
23                                     N/A
24                                     N/A
25                                     N/A
26              All other funds from   N/A                                                                                                                                                                  1
                dedicated
                collections
27              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
28              Total                  N/A                                                                                                                                                                 -1




                                                                                                       - 69 -
                                                                                                                                                                                           11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                            Fiscal Year: 2016            Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                    Agency Notes:       N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.           I = Inactive Line


      Section: C               Section Name: Liabilities and Net Position-Current Year (SFFAS No.                                Line Attributes: Dollars
                                             27, par. 30.1, as amended by SFFAS No. 43)                                        Rounding Method: Millions                           Decimal: Zero
Line Status Line Description           NB     Total liabilities and net
                                                             position
19              Harbor                 N/A
                Maintenance Trust
                Fund
21                                     N/A
22                                     N/A
23                                     N/A
24                                     N/A
25                                     N/A
26              All other funds from   N/A                            -1
                dedicated
                collections
27              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
28              Total                  N/A                            -1
      Section: D               Section Name: Liabilities and Net Position - Prior Year               No Data Flag: YES           Line Attributes: Dollars
                                                                                                                               Rounding Method: Millions                           Decimal: Zero
Line Status Line Description           NB           Benefits due and       Other Fed. Liab. (Funds   Other Fed. Liab. (Funds      Other non-Federal            Total liabilities        Ending net position C
                                                          payable C               From Dedicated         not from Dedicated              liabilities C
                                                                                    Collection) C                  Collec) C




                                                                                                       - 70 -
                                                                                                                                                                                           11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                            Fiscal Year: 2016            Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                    Agency Notes:       N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.           I = Inactive Line


      Section: D               Section Name: Liabilities and Net Position - Prior Year               No Data Flag: YES           Line Attributes: Dollars
                                                                                                                               Rounding Method: Millions                           Decimal: Zero
Line Status Line Description           NB           Benefits due and       Other Fed. Liab. (Funds   Other Fed. Liab. (Funds      Other non-Federal            Total liabilities        Ending net position C
                                                          payable C               From Dedicated         not from Dedicated              liabilities C
                                                                                    Collection) C                  Collec) C
20      I                              N/A
21      I                              N/A
22      I                              N/A
23      I                              N/A
24      I                              N/A
25      I       All other funds from   N/A
                dedicated
                collections
26      I       Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
27              Total                  N/A

Line Status Line Description           NB     Total liabilities and net
                                                             position
20      I                              N/A
21      I                              N/A
22      I                              N/A
23      I                              N/A
24      I                              N/A
25      I       All other funds from   N/A
                dedicated
                collections
26      I       Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
27              Total                  N/A




                                                                                                       - 71 -
                                                                                                                                                                                        11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                                Fiscal Year: 2016           Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                        Agency Notes:    N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.               I = Inactive Line


      Section: E               Section Name: Revenue, Financing, Expenses, and Other-Current                                         Line Attributes: Dollars
                                             Year (SFFAS No. 27, par. 30.2, as amended by                                          Rounding Method: Millions                    Decimal: Zero
                                             SFFAS No. 43)
Line Status Line Description           NB              Net position,       Prior-period adjustment       Investment revenue from Individual income taxes Unemployment and excise Other taxes and receipts
                                              beginning of period C                                  C      Treasury Securities C and payroll tax withhold              taxes C                          C
                                                                                                                                                          C
19              Harbor                 N/A
                Maintenance Trust
                Fund
21                                     N/A
22                                     N/A
23                                     N/A
24                                     N/A
25                                     N/A
26              All other funds from   N/A                             1
                dedicated
                collections
27              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
28              Total                  N/A                          -1




                                                                                                            - 72 -
                                                                                                                                                                                        11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                            Fiscal Year: 2016             Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                    Agency Notes:    N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.           I = Inactive Line


      Section: E          Section Name: Revenue, Financing, Expenses, and Other-Current                                          Line Attributes: Dollars
                                        Year (SFFAS No. 27, par. 30.2, as amended by                                           Rounding Method: Millions                        Decimal: Zero
                                        SFFAS No. 43)
Line Status Line Description     NB     Royalties and other             All other financing            Program gross cost or        Program earned       Non-program expenses          Net position, end of
                                         special revenue C                      sources C                benefit payments D             revenues C                              D                  period
19              Harbor                 N/A
                Maintenance Trust
                Fund
21                                     N/A
22                                     N/A
23                                     N/A
24                                     N/A
25                                     N/A
26              All other funds from   N/A                                                        1                       1                                                                              -1
                dedicated
                collections
27              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
28              Total                  N/A                                                     -1                         1                                                                              -1
      Section: F               Section Name: Revenue, Financing, Expenses, and Other - Prior          No Data Flag: YES          Line Attributes: Dollars
                                             Year                                                                              Rounding Method: Millions                        Decimal: Zero
Line Status Line Description           NB              Net position,    Prior-period adjustment     Investment revenue from Individual income taxes Unemployment and excise Other taxes and receipts
                                              beginning of period C                               C    Treasury Securities C and payroll tax withhold              taxes C                          C
                                                                                                                                                     C
20      I                              N/A
21      I                              N/A
22      I                              N/A
23      I                              N/A
24      I                              N/A
25      I       All other funds from   N/A
                dedicated
                collections
26      I       Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts



                                                                                                        - 73 -
                                                                                                                                                                                           11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                             Fiscal Year: 2016               Period: SEPTEMBER
     Entity: 9100         Department of Education                                                                                     Agency Notes:       N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.            I = Inactive Line


       Section: F              Section Name: Revenue, Financing, Expenses, and Other - Prior           No Data Flag: YES          Line Attributes: Dollars
                                             Year                                                                               Rounding Method: Millions                          Decimal: Zero
Line Status Line Description           NB              Net position,     Prior-period adjustment     Investment revenue from Individual income taxes Unemployment and excise Other taxes and receipts
                                              beginning of period C                                C    Treasury Securities C and payroll tax withhold              taxes C                          C
                                                                                                                                                      C
27              Total                  N/A

Line Status Line Description           NB       Royalties and other            All other financing      Program gross cost or         Program earned        Non-program expenses          Net position, end of
                                                 special revenue C                     sources C          benefit payments D              revenues C                               D                  period
20        I                            N/A
21        I                            N/A
22        I                            N/A
23        I                            N/A
24        I                            N/A
25        I     All other funds from   N/A
                dedicated
                collections
26        I     Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
27              Total                  N/A
       Section: G              Section Name: Number of Agency Funds From Dedicated                                                 Line Attributes: Units
                                             Collections
Line Status Line Description           NB      2016 - SEPTEMBER             2015 - SEPTEMBER                 Previously Rptd      Line Item Changes
 1              Total number of        N/A                      2.0000                     2.0000                      2.0000                     .0000
                funds from
                dedicated
                collections




                                                                                                         - 74 -
                                                                                                                                                                                     11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                            Fiscal Year: 2016            Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                    Agency Notes:    N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.           I = Inactive Line


      Section: H               Section Name: Revenue, Financing, Expenses, and Other-Intra-          No Data Flag: YES           Line Attributes: Dollars
                                             Entity Eliminations with Non-Dedicated Collections                                Rounding Method: Millions                    Decimal: Zero
                                             Funds-Current FY
Line Status Line Description           NB      Investment Revenue       Income Taxes and payroll         Unemployment and Other taxes and receipts Royalties and other special Other financing sources
                                                  from securities C              witholdings C              excise taxes C                       C                revenue C                           C
19              Harbor                 N/A
                Maintenance Trust
                Fund
21                                     N/A
22                                     N/A
23                                     N/A
24                                     N/A
25                                     N/A
26              All other funds from   N/A
                dedicated
                collections
27              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
28              Total                  N/A




                                                                                                       - 75 -
                                                                                                                                                                                     11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                            Fiscal Year: 2016            Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                    Agency Notes:    N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.           I = Inactive Line


      Section: H          Section Name: Revenue, Financing, Expenses, and Other-Intra-     No Data Flag: YES                     Line Attributes: Dollars
                                        Entity Eliminations with Non-Dedicated Collections                                     Rounding Method: Millions                    Decimal: Zero
                                        Funds-Current FY
Line Status Line Description     NB    Gross cost or benefit           Earned revenues C Non-program expenses
                                                payments D                                                    D
19              Harbor                 N/A
                Maintenance Trust
                Fund
21                                     N/A
22                                     N/A
23                                     N/A
24                                     N/A
25                                     N/A
26              All other funds from   N/A
                dedicated
                collections
27              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
28              Total                  N/A
      Section: I               Section Name: Revenue, Financing, Expenses, and Other - Intra-        No Data Flag: YES           Line Attributes: Dollars
                                             Entity Eliminations with Non-Dedicated Collections                                Rounding Method: Millions                    Decimal: Zero
                                             Funds-Prior FY
Line Status Line Description           NB      Investment Revenue       Income Taxes and payroll         Unemployment and Other taxes and receipts Royalties and other special Other financing sources
                                                  from securities C              witholdings C              excise taxes C                       C                revenue C                           C
20      I                              N/A
21      I                              N/A
22      I                              N/A
23      I                              N/A
24      I                              N/A
25      I       All other funds from   N/A
                dedicated
                collections
26              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts



                                                                                                       - 76 -
                                                                                                                                                                            11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                           Fiscal Year: 2016      Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                   Agency Notes:    N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.          I = Inactive Line


      Section: I          Section Name: Revenue, Financing, Expenses, and Other - Intra-   No Data Flag: YES                    Line Attributes: Dollars
                                        Entity Eliminations with Non-Dedicated Collections                                    Rounding Method: Millions             Decimal: Zero
                                        Funds-Prior FY
Line Status Line Description     NB    Gross cost or benefit           Earned revenues C Non-program expenses
                                                payments D                                                    D
20       I                             N/A
21       I                             N/A
22       I                             N/A
23       I                             N/A
24       I                             N/A
25       I      All other funds from   N/A
                dedicated
                collections
26              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
      Section: J               Section Name: Intragovernmental Gross Cost and Revenue-Current        No Data Flag: YES          Line Attributes: Dollars
                                             FY                                                                               Rounding Method: Millions             Decimal: Zero
Line Status Line Description           NB        Intragovernmental             Intragovernmental     Intragovernmental non-
                                                   program cost or                program earned       program expenses D
                                                benefit payments D                    revenues C
19              Harbor                 N/A
                Maintenance Trust
                Fund
21                                     N/A
22                                     N/A
23                                     N/A
24                                     N/A
25                                     N/A
26              All other funds from   N/A
                dedicated
                collections
27              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts
28              Total                  N/A



                                                                                                       - 77 -
                                                                                                                                                                            11/16/2016 06:26:40

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                       GF006 - FR Notes Report

     Note: 22            Funds From Dedicated Collections                                                                           Fiscal Year: 2016      Period: SEPTEMBER
  Entity: 9100            Department of Education                                                                                   Agency Notes:    N/A

  Status: Complete                           The accompanying notes are an integral part of these financial statements.          I = Inactive Line


      Section: K               Section Name: Intragovernmental Gross Cost and Revenue - Prior        No Data Flag: YES          Line Attributes: Dollars
                                             FY                                                                               Rounding Method: Millions             Decimal: Zero
Line Status Line Description           NB        Intragovernmental             Intragovernmental     Intragovernmental non-
                                                   program cost or                program earned       program expenses D
                                                benefit payments D                    revenues C
20      I                              N/A
21      I                              N/A
22      I                              N/A
23      I                              N/A
24      I                              N/A
25      I       All other funds from   N/A
                dedicated
                collections
26              Intra-agency funds     N/A
                from dedicated
                collections
                elimination
                amounts




                                                                                                       - 78 -
                                                                                                                                                                                                   11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

    Note: 22          Funds From Dedicated Collections                                                                                  Fiscal Year: 2016                  Period: SEPTEMBER
    Entity: 9100       Department of Education                                                                                           Agency Notes:      N/A

 Status: Complete                         The accompanying notes are an integral part of these financial statements.                 I = Inactive Line

Tab: Text Data
Line               Question                                                                                           Answer
1                  Provide a general description of the individual funds from dedicated collections reported in       Funds from dedicated collections are recorded as specifically identified revenues, often
                   the Other Notes Info tab (SFFAS No. 27, par. 33, as amended by SFFAS No. 43). Also                 supplemented by other financing sources which remain available over time. These
                   describe how the entity accounts for and reports the fund (SFFAS No. 27, par. 23.1, as             funds are required by statute to be used for designated activities, benefits, or purposes.
                   amended by SFFAS No. 43).                                                                          The Department's funds from dedicated collections are primarily related to the 2005
                                                                                                                      Hurricane Relief efforts.

2                  State the legal authority for the administrative entity of each fund to use the revenues and       The Hurricane Education Recovery Act (P.L. 109-148, Division B, Title IV), enacted on
                   other financing sources based on SFFAS No. 27, par. 23.1, as amended by SFFAS No. 43.              December 30, 2005, and the U.S. Troop Readiness, Veterans' Care, Katrina Recovery,
                                                                                                                      and Iraq Accountability Appropriations Act, 2007, appropriated funds to the Department
                                                                                                                      to provide needed assistance to reopen schools and help educate those affected by
                                                                                                                      hurricanes Katrina and Rita.

3                  Explain any change in legislation during or subsequent to the reporting period and before the
                   issuance of the financial statements that significantly change the purpose of the fund or that
                   redirect a material portion of the accumulated balance (SFFAS No. 27, par. 23.3, as
                   amended by SFFAS No. 43).
4                  Provide the sources of revenue and other financing for amounts reported in columns 3               In the aftermath of Hurricane Katrina, a number of foreign governments, international
                   through 8 of Sections E and F in the Other Notes Info tab (SFFAS No. 27, par. 23.2, as             entities and individuals made donations of financial assistance to the U.S. Government
                   amended by SFFAS No. 43).                                                                          to support Katrina relief and recovery efforts. These donations were received by the
                                                                                                                      U.S. Department of State as an intermediary. Subsequently, $61 million was transferred
                                                                                                                      to the Department to finance educational initiatives in Louisiana and Mississippi under a
                                                                                                                      Memorandum of Understanding issued in March 2006.

5                  Provide any other relevant information pertaining to this note, including explanation for prior-
                   period adjustments, if any. At a minimum, describe briefly the significant accounting policies
                   pertaining to this note. (SFFAS No. 32, par. 29)




                                                                                                             - 79 -
                                                                                                                                                                            11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 25            Stewardship Land                                                                                           Fiscal Year: 2016       Period: SEPTEMBER
     Entity: 9100        Department of Education                                                                                    Agency Notes:     N/A

  Status: Complete                          The accompanying notes are an integral part of these financial statements.           I = Inactive Line


       Section: A             Section Name: Stewardship Land (SFFAS No. 29, par. 40d)                   No Data Flag: YES        Line Attributes: Units


Line Status Line Description         NB                 Current FY                Previously Rptd
 1              Public Land          N/A
 2              National Forest      N/A
                System
 3              National Wildlife    N/A
                Refuge System
 4              National Park        N/A
                System
 5              Withdrawn public     N/A
                land
 6              Mission Land         N/A
 7              Water, power,and     N/A
                recreation
 8              Geographic           N/A
                management areas
 9              National fish        N/A
                hatcheries
10              Conservation areas   N/A
11          National marine          N/A
            monuments
12          All other                N/A
Tab: Text Data                         No Data Flag: YES
 Line                Question                                                                                           Answer
 1                   Describe the predominant uses of the stewardship land (SFFAS 29, par. 40c).
 2                   Provide a brief statement explainng how the stewardship land relates to the mission of the
                     agency (SFFAS No. 29, par. 42a).
 3                   Provide a brief description of the agency's stewardship policies for stewardsip land (SFFAS
                     No. 29, par. 42c).
 4                   Provide any other information relevant information pertaining to this note. At a minimum,
                     describe briefly the significant accounting policies pertaining to this note.




                                                                                                           - 80 -
                                                                                                                                                                             11/16/2016 06:26:40

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                         GF006 - FR Notes Report

     Note: 26          Heritage Assets                                                                                               Fiscal Year: 2016       Period: SEPTEMBER
     Entity: 9100       Department of Education                                                                                      Agency Notes:     N/A

  Status: Complete                         The accompanying notes are an integral part of these financial statements.             I = Inactive Line


       Section: A            Section Name: Collection Type Heritage Assets (SFFAS No. 29, par.           No Data Flag: YES        Line Attributes: Units
                                           25d)
Line Status Line Description         NB      Physical units at the        Physical units at the end
                                            end of the Current FY                  of the Prior FY
 1                                   N/A
 2                                   N/A
 3                                   N/A
 4                                   N/A
 5                                   N/A



       Section: B            Section Name: Non-Collection Type Heritage Assets (SFFAS No.                No Data Flag: YES        Line Attributes: Units
                                           29, par. 25d)
Line Status Line Description         NB      Physical units at the        Physical units at the end
                                            end of the Current FY                  of the Prior FY
 1                                   N/A
 2                                   N/A
 3                                   N/A
 4                                   N/A
 5                                   N/A


Tab: Text Data                         No Data Flag: YES
 Line               Question                                                                                             Answer
 1                  Provide a brief statement explaining how heritage assets relate to the mission of the agency
                    (SFFAS No. 29, par. 28a).
 2                  Provide a brief description of the agency's stewardship policies for each major category of
                    the heritage assets (SFFAS No. 29, par. 28c).
 3                  Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                    the significant accounting policies pertaining to this note.




                                                                                                            - 81 -
                                                                                                                                                                                    11/16/2016 06:26:40

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                      GF006 - FR Notes Report

     Note: 27        Fiduciary Activities                                                                                            Fiscal Year: 2016           Period: SEPTEMBER
     Entity: 9100    Department of Education                                                                                         Agency Notes:    N/A

  Status: Complete                          The accompanying notes are an integral part of these financial statements.            I = Inactive Line

Tab: Other Notes Info.

       Section: A         Section Name: Schedule of Fiduciary Net Assets-Current FY                 No Data Flag: YES            Line Attributes: Dollars
                                                                                                                               Rounding Method: Millions                    Decimal: Zero
Line Status Line Description       NB        Inv. in Fed. debt secs-         Fid. FBWT (USSGL        Interest Receivable on Invest. in non-Fed. debt Cash & cash equivalents           Other assets D
                                              net of unam. prems &         account 1010 only) D      Fed. debt securities D secs.(& relaed int. rec.)                        D
                                                           discs. D                                                                                   D
10                                N/A
11                                N/A
12                                N/A
13                                N/A
14                                N/A

Line Status Line Description       NB        Liability due & payable          Other liabilities C Total fiduciary net assets
                                                 to beneficiaries C
10                                N/A
11                                N/A
12                                N/A
13                                N/A
14                                N/A
       Section: B         Section Name: Schedule of Fiduciary Net Assets - Deposit Funds -          No Data Flag: YES            Line Attributes: Dollars
                                        Prior Year                                                                             Rounding Method: Millions                    Decimal: Zero
Line Status Line Description       NB        Inv. in Fed. debt secs-         Fid. FBWT (USSGL        Interest Receivable on Invest. in non-Fed. debt Cash & cash equivalents           Other assets D
                                              net of unam. prems &         account 1010 only) D      Fed. debt securities D secs.(& relaed int. rec.)                        D
                                                           discs. D                                                                                   D
 8        I                       N/A
 9        I                       N/A
10        I                       N/A
11        I                       N/A
12        I                       N/A

Line Status Line Description       NB        Liability due & payable          Other liabilities C Total fiduciary net assets
                                                 to beneficiaries C
 8        I                       N/A
 9        I                       N/A
10        I                       N/A
11        I                       N/A
12        I                       N/A



                                                                                                      - 82 -
                                                                                                                                                                                    11/16/2016 06:26:40

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                      GF006 - FR Notes Report

     Note: 27        Fiduciary Activities                                                                                            Fiscal Year: 2016           Period: SEPTEMBER
     Entity: 9100    Department of Education                                                                                         Agency Notes:    N/A

  Status: Complete                          The accompanying notes are an integral part of these financial statements.            I = Inactive Line


       Section: C         Section Name: Schedule of Fiduciary Net Assets - All Other Agency         No Data Flag: YES            Line Attributes: Dollars
                                        Funds- Current Year                                                                    Rounding Method: Millions                    Decimal: Zero
Line Status Line Description       NB        Inv. in Fed. debt secs-         Fid. FBWT (USSGL        Interest Receivable on Invest. in non-Fed. debt Cash & cash equivalents           Other assets D
                                              net of unam. prems &         account 1010 only) D      Fed. debt securities D secs.(& relaed int. rec.)                        D
                                                           discs. D                                                                                   D
 3        I                       N/A
 4        I                       N/A
 5        I                       N/A
 6        I                       N/A
 7        I                       N/A

Line Status Line Description       NB        Liability due & payable          Other liabilities C Total fiduciary net assets
                                                 to beneficiaries C
 3        I                       N/A
 4        I                       N/A
 5        I                       N/A
 6        I                       N/A
 7        I                       N/A
       Section: D         Section Name: Schedule of Fiduciary Net Assets - All Other Agency         No Data Flag: YES            Line Attributes: Dollars
                                        Funds - Prior Year                                                                     Rounding Method: Millions                    Decimal: Zero
Line Status Line Description       NB        Inv. in Fed. debt secs-         Fid. FBWT (USSGL        Interest Receivable on Invest. in non-Fed. debt Cash & cash equivalents           Other assets D
                                              net of unam. prems &         account 1010 only) D      Fed. debt securities D secs.(& relaed int. rec.)                        D
                                                           discs. D                                                                                   D
 3        I                       N/A
 4        I                       N/A
 5        I                       N/A
 6        I                       N/A
 7        I                       N/A

Line Status Line Description       NB        Liability due & payable          Other liabilities C Total fiduciary net assets
                                                 to beneficiaries C
 3        I                       N/A
 4        I                       N/A
 5        I                       N/A
 6        I                       N/A
 7        I                       N/A




                                                                                                      - 83 -
                                                                                                                                                                                   11/16/2016 06:26:40

                                                                                           U.S. Department of the Treasury
                                                                                             Bureau of the Fiscal Service
                                                                                       Governmentwide Financial Report System
                                                                                              GF006 - FR Notes Report

      Note: 27             Fiduciary Activities                                                                                            Fiscal Year: 2016       Period: SEPTEMBER
     Entity: 9100          Department of Education                                                                                         Agency Notes:     N/A

  Status: Complete                                The accompanying notes are an integral part of these financial statements.            I = Inactive Line


       Section: E                Section Name: Number of Agency Fiduciary Activities                           No Data Flag: YES        Line Attributes: Units


Line Status Line Description             NB           CY Total number of            PY Total number of
                                                      fiduciary funds- all    fiduciary funds- all funds
                                                                   funds
 1               Total number of        N/A
                 fiduciary funds-all
                 funds




Tab: Text Data                             No Data Flag: YES
 Line                  Question                                                                                                Answer
 1                     Describe the fiduciary relationship, for example, the applicable legal authority, the objectives
                       of the fiduciary activity, and a general description of the beneficial owners or class of owners
                       of each fiduciary fund (SFFAS No. 31, par. 18(a)).
 2                     Provide information on any significant changes in fiduciary net assets from the prior period
                       (SFFAS No. 31, par. 18(c)).
 3                     Provide the TAS for all funds with fiduciary activities.
 4                     For any cash included in the Schedules of Fiduciary Net Assets, indicate if the cash is
                       represented by balances on deposit with either the U.S. Treasury or with a commercial
                       banking institution (SSFAS No. 31, par. 12).
 5                     Provide a description of any cash equivalents included in the Schedules of Fiduciary Net
                       Assets.
 6                     If separate audited financial statements are issued for an individual fiduciary activity with a
                       fiscal yearend other than September 30, indicate the fiduciary activity's FY (SFFAS No. 31,
                       par. 18(e)).
 7                     If separate audited financial statements are issued for an individual fiduciary activity, disclose
                       the basis of accounting used and the auditor's opinion on the current or most recent financial
                       statements. If the auditor's opinion was not unqualified, disclose the reason(s) stated by the
                       auditors and refer the reader to the audit opinion for further information (SFFAS No. 31, par.
                       22(a)).
 8                     If separate audited financial statements are issued for an individual fiduciary activity, provide
                       information on how the reader can obtain a copy of the financial statements and the audit
                       opinion thereon (SFFAS No. 31, par. 22(b)).
 9                     If more than one agency is responsible for administering a fiduciary activity, and the separate
                       portions of the activity can be clearly identified with another responsible agency, identify the
                       other agency(ies) involved in managing the activity (SFFAS No.31.par.19).
 10                    Provide any other relevant information pertaining to this note. At a minimum, describe briefly
                       the significant accounting policies pertaining to this note.




                                                                                                                  - 84 -
                                                                                                                                                                   11/16/2016 06:27:04

                                                                             U.S. Department of the Treasury
                                                                               Bureau of the Fiscal Service
                                                                         Governmentwide Financial Report System
                                                                               GF007 - Other Data Report

 Other Data: 01             Taxes                                                                                        Fiscal Year: 2016             Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                          Agency Notes:    N/A
      Status: Complete                                                                    I = Inactive Line


  Tab: Other Data Info.
     Section: A               Section Name: Taxes (SSFAS No.7, par. 67.1 & 69.1)                No Data: YES             Line Attributes: Dollars
                                                                                                                       Rounding Method: User-Defined         Decimal: User-Defined
Line Status   Line Description        NB      2016 - SEPTEMBER         2015 - SEPTEMBER              Previously Rptd      Line Item Changes
 1            Estimated realized      Debit
              value of compliance
              assessments as of
              the end of the period
 2            Estimated realizable    Debit
              value of pre-
              assessment work-
              in-progress
 3            Changes in 1 above      Debit
 4            Changes in 2 above      Debit
 5            Other claims for      Debit
              refunds not yet
              accrued but likely to
              be paid when
              administrative
              actions are
              completed
 6            Management's best     Debit
              estimate of
              unasserted claims for
              refunds
 7            Changes in 5 above Debit
 8            Changes in 6 above      Debit
 9            Amount of               Debit
              assessments written
              off that continue to
              be statutorily
              collectible (excluded
              from accounts
              receivable)




                                                                                               - 1 -
                                                                                                                                                                                     11/16/2016 06:27:04

                                                                                          U.S. Department of the Treasury
                                                                                            Bureau of the Fiscal Service
                                                                                      Governmentwide Financial Report System
                                                                                            GF007 - Other Data Report

 Other Data: 01                Taxes                                                                                                       Fiscal Year: 2016             Period: SEPTEMBER
         Entity: 9100          Department of Education                                                                                         Agency Notes:    N/A
        Status: Complete                                                                                   I = Inactive Line


     Tab: Other Data Info.
      Section: B                  Section Name: Provide the following amount if a range is estimable              No Data: YES             Line Attributes: Dollars
                                                and not included in Sec. A (SFFAS No. 7 pars. 67-69)                                     Rounding Method: User-Defined         Decimal: User-Defined


Line Status      Line Description         NB                       CY Low                        CY High                        PY Low               PY High
 1          Estimated realizable Debit
            value of pre-
            assessment work-
            in-progress
 2          Changes in line 1     Debit
            above
 3          Management's best     Debit
            estimate of
            unasserted claims for
            refunds
 4          Changes in line 3     Debit
            above
   Section: C               Section Name: Tax Gap                                                                 No Data: YES             Line Attributes: Dollars
                                                                                                                                         Rounding Method: User-Defined         Decimal: User-Defined
Line Status      Line Description         NB                       CY Low                        CY High                        PY Low               PY High
 1               Tax gap estimate        Debit




     Tab: Other Text Data

        Section: A                  Section Name: Taxes (SSFAS No.7, par. 67.1 & 69.1)                                 No Data: YES

 Line         Question                                                                                                          Answer
 1            Provide the explicit definitions of estimated amounts of the size of the tax gap. (SFFAS No. 7,
              pars. 67.1 & 69.2)
 2            Provide the appropriate explanation of the limited reliability of the estimates of the size of the tax
              gap. (SFFAS No. 7, pars. 67.1 & 69.2)



                                                                                                                 - 2 -
                                                                                                                                                                     11/16/2016 06:27:04

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                     GF007 - Other Data Report

Other Data: 01              Taxes                                                                                               Fiscal Year: 2016         Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                                Agency Notes:    N/A
       Status: Complete                                                                            I = Inactive Line



    Tab: Other Text Data

       Section: A               Section Name: Taxes (SSFAS No.7, par. 67.1 & 69.1)                         No Data: YES

Line         Question                                                                                                  Answer
3           Provide cross-references to portions of the tax gap due from identified noncompliant taxpayers
            and importers. (SFFAS No. 7, pars. 67.1 & 69.2)
4           Provide the estimates of the annual tax gap (amounts should specifically define whether it
            includes or excludes estimates of tax due on illegally-earned revenue). (SFFAS No. 7, pars. 67.1
            & 69.2)
5           Disclose the amounts by which trust funds may be over- or under-funded in comparison with the
            requirements of law, if reasonable estimable can be made. (SFFAS No. 7, pars. 67.1 & 69.2)




                                                                                                        - 3 -
                                                                                                                                                                      11/16/2016 06:27:04

                                                                            U.S. Department of the Treasury
                                                                              Bureau of the Fiscal Service
                                                                        Governmentwide Financial Report System
                                                                              GF007 - Other Data Report

 Other Data: 08           Stewardship Investments                                                                           Fiscal Year: 2016             Period: SEPTEMBER
       Entity: 9100       Department of Education                                                                               Agency Notes:      RSSI
      Status: Complete                                                                      I = Inactive Line


  Tab: Other Data Info.
     Section: A             Section Name: Investments in Non-Federal Physical Property            No Data: YES              Line Attributes: Dollars
                                          (SFFAS No. 8, par 87)                                                           Rounding Method: Millions             Decimal: Zero


Line Status   Line Description     NB                   FY 2016                   FY 2015                       FY 2014                 FY 2013                FY 2012
 1                                Debit
 2                                Debit
 3                                Debit
 4                                Debit
 5                                Debit
 6            Other               Debit


     Section: B             Section Name: Research and Development: Investments in                No Data: YES              Line Attributes: Dollars
                                          Development (SFFAS No. 8, par. 100)                                             Rounding Method: User-Defined         Decimal: User-Defined


Line Status   Line Description     NB                   FY 2016                   FY 2015                       FY 2014                 FY 2013                FY 2012
 1                                Debit
 2                                Debit
 3                                Debit
 4                                Debit
 5                                Debit
 6            Other               Debit




                                                                                                 - 4 -
                                                                                                                                                                                         11/16/2016 06:27:04

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                      GF007 - Other Data Report

 Other Data: 08               Stewardship Investments                                                                                   Fiscal Year: 2016                Period: SEPTEMBER
        Entity: 9100          Department of Education                                                                                       Agency Notes:       RSSI
       Status: Complete                                                                             I = Inactive Line


  Tab: Other Data Info.
      Section: C                Section Name: Investment in Human Capital (SFFAS No. 8, par 94 )                                        Line Attributes: Dollars
                                                                                                                                      Rounding Method: Millions                   Decimal: Zero
Line Status      Line Description       NB                      FY 2016                   FY 2015                       FY 2014                     FY 2013                      FY 2012
 1               Federal Student Aid   Debit                      57,333                      26,894                         34,845                   -14,546                         9,401
 2               Elementary and        Debit                      22,155                      22,146                         22,832                    22,221                       22,137
                 Secondary Education
 3               Special Education     Debit                      15,944                      15,751                         15,948                    15,919                       16,139
                 and Rehab Services
 4               Other Departmental    Debit                       6,349                       6,494                          6,938                     6,175                         6,211
                 Programs
 5               Salaries and          Debit                         625                         511                           667                        703                           481
                 Administration
 6               Other                 Debit                              0                         0                             0                     2,623                         7,651
     Threshold
      Line Description                                              Question                                                                     Answer
      Other Data Info - Elementary and Secondary Education          Please provide explanations for any amounts that have                        The change is due to an increase in grant expenditures
      (FY 2016)                                                     changed by 10% or more and or greater than 500,000
                                                                    between the current fiscal year and prior fiscal year.
                                                                    (Unaudited)
      Other Data Info - Federal Student Aid (FY 2016)               Please provide explanations for any amounts that have                        The change is primarily due to the change in the Direct Loan
                                                                    changed by 10% or more and or greater than 500,000                           Program subsidy expense and a subsidy modification.
                                                                    between the current fiscal year and prior fiscal year.
                                                                    (Unaudited)
      Other Data Info - Special Education and Rehab Services        Please provide explanations for any amounts that have                        The change is due to an increase in grant expenditures
      (FY 2016)                                                     changed by 10% or more and or greater than 500,000
                                                                    between the current fiscal year and prior fiscal year.
                                                                    (Unaudited)
      Other Data Info - Other Departmental Programs (FY 2016)       Please provide explanations for any amounts that have                        The change is attributed primarily to a decrease in grant
                                                                    changed by 10% or more and or greater than 500,000                           expenditures.
                                                                    between the current fiscal year and prior fiscal year.
                                                                    (Unaudited)
      Other Data Info - Salaries and Administration (FY 2016)       Please provide explanations for any amounts that have                        The change is attributed to an error in reporting of FY 2015
                                                                    changed by 10% or more and or greater than 500,000                           salaries and administration stewardship investment costs
                                                                    between the current fiscal year and prior fiscal year.
                                                                    (Unaudited)




                                                                                                         - 5 -
                                                                                                                                                                                 11/16/2016 06:27:04

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                        GF007 - Other Data Report

 Other Data: 08               Stewardship Investments                                                                                  Fiscal Year: 2016             Period: SEPTEMBER
         Entity: 9100         Department of Education                                                                                      Agency Notes:    RSSI
        Status: Complete                                                                               I = Inactive Line


     Tab: Other Data Info.
      Section: D                Section Name: Research and Development: Investments in Basic                 No Data: YES              Line Attributes: Dollars
                                              Research (SFFAS No. 8, par.100)                                                        Rounding Method: User-Defined         Decimal: User-Defined


Line Status      Line Description         NB                   FY 2016                       FY 2015                       FY 2014                FY 2013                 FY 2012
 1                                       Debit
 2                                       Debit
 3                                       Debit
 4                                       Debit
 5                                       Debit
 6               Other                   Debit


      Section: E                Section Name: Research and Development: Investments in Applied               No Data: YES              Line Attributes: Dollars
                                              Research (SFFAS No. 8, par 100)                                                        Rounding Method: User-Defined         Decimal: User-Defined


Line Status      Line Description         NB                   FY 2016                       FY 2015                       FY 2014                FY 2013                 FY 2012
 1                                       Debit
 2                                       Debit
 3                                       Debit
 4                                       Debit
 5                                       Debit
 6               Other                   Debit



     Tab: Other Text Data

        Section: A                  Section Name: Investments in Non-Federal Physical Property                 No Data: YES
                                                  (SFFAS No. 8, par 87)

 Line         Question                                                                                                     Answer
 1            Provide a description of federally-owened physical property transferred to State and local
              governments. (SFFAS No. 8, par 87).
 2            Provide a description of the major programs of federal investments in non-federal physical
              property used in the "Other Data Info" tab (SFFAS No.8 par. 87).




                                                                                                            - 6 -
                                                                                                                                                                                           11/16/2016 06:27:04

                                                                                     U.S. Department of the Treasury
                                                                                       Bureau of the Fiscal Service
                                                                                 Governmentwide Financial Report System
                                                                                       GF007 - Other Data Report

Other Data: 08               Stewardship Investments                                                                                     Fiscal Year: 2016                 Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                                          Agency Notes:       RSSI
       Status: Complete                                                                              I = Inactive Line



    Tab: Other Text Data

       Section: B               Section Name: Research and Development: Investments in                         No Data: YES
                                              Development (SFFAS No. 8, par. 100)

Line        Question                                                                                                     Answer
1           Provide a description of the major programs of federal investments in development used in the
            "Other Data Info" tab. (SFFAS No. 8, par. 100)
2           Provide a description of the progress of major developmental projects including the results with
            respect to
            projects completed or otherwise terminated during the year and the status of projects that will
            continue (SFFAS No. 8,
            par. 99).
    Tab: Other Text Data

       Section: C               Section Name: Investment in Human Capital (SFFAS No. 8, par 94 )

Line         Question                                                                                                    Answer
1           Provide a description of the major education and training programs considered federal                        Federal Student Aid administers need based financial assistance programs for students
            investments in human                                                                                         pursuing postsecondary education and makes available federal grants, direct loans, and
            capital used in the "Other Data Info" tab (SFFAS No. 8, par. 94).                                            work study funding to eligible undergraduate and graduate students.

                                                                                                                         Elementary and Secondary Education assists state and local educational agencies to
                                                                                                                         improve the achievement of preschool, elementary, and secondary school students, helps
                                                                                                                         ensure equal access to services leading to such improvement - particularly children with
                                                                                                                         high needs, and provides financial assistance to local educational agencies whose local
                                                                                                                         revenues are affected by federal activities.

                                                                                                                         Special Education and Rehabilitative Services supports programs that help provide early
                                                                                                                         intervention and special education services to children and youth with disabilities. It also
                                                                                                                         supports programs for the vocational rehabilitation of youth and adults with disabilities,
                                                                                                                         including pre-employment transition services and other transition services designed to assist
                                                                                                                         students with disabilities to enter postsecondary education and achieve employment.
                                                                                                                         Other Departmental programs provide leadership, technical assistance, and financial support
                                                                                                                         to state and local educational activities and institutions of higher education for reform,
                                                                                                                         strategic investment, and innovation in education. In addition, the Department works to
                                                                                                                         ensure equal access to education, promotes educational excellence throughout the nation,
                                                                                                                         and serves student populations facing discrimination and the advocates and institutions
                                                                                                                         promoting systemic solutions to civil rights issues.




                                                                                                          - 7 -
                                                                                                                                                                      11/16/2016 06:27:04

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                     GF007 - Other Data Report

Other Data: 08              Stewardship Investments                                                                             Fiscal Year: 2016          Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                                Agency Notes:    RSSI
       Status: Complete                                                                            I = Inactive Line



    Tab: Other Text Data

       Section: D               Section Name: Research and Development: Investments in Basic                 No Data: YES
                                              Research (SFFAS No. 8, par.100)

Line         Question                                                                                                  Answer
1           Provide a description of the major programs of federal investments in basic research used in the
            "Other Data
            Info" tab (SFFAS No. 8, par. 100).
2           Provide a description of any major new discoveries made during the year (SFFAS No. 8, par. 99).
    Tab: Other Text Data

       Section: E               Section Name: Research and Development: Investments in Applied               No Data: YES
                                              Research (SFFAS No. 8, par 100)

Line         Question                                                                                                  Answer
1           Provide a description of the major programs of federal investments in applied research used in
            the "Other Data
            Info" tab (SFFAS No. 8, par. 100).
2           Provide a description of any major new applications developed during the year (SFFAS No. 8,
            par. 99).




                                                                                                         - 8 -
                                                                                                                                                                                   11/16/2016 06:27:04

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                     GF007 - Other Data Report

 Other Data: 09               Deferred Maintenance and Repairs                                                                         Fiscal Year: 2016             Period: SEPTEMBER
        Entity: 9100          Department of Education                                                                                      Agency Notes:       N/A
        Status: Complete                                                                            I = Inactive Line


  Tab: Other Data Info.
      Section: A                Section Name: Cost Estimate Prior Year Only-For entities who are           No Data: YES                Line Attributes: Dollars
                                              not able to provide a single estimate in Section B PY                                  Rounding Method: User-Defined          Decimal: User-Defined
                                              information


Line Status     Line Description         NB                CY- Low     D              CY- High        D CY - Critical Maintenance              PY- Low     D            PY- High    D PY - Critical Maintenance
                                                                                                                                 D                                                                                D
 1       I      Buildings, structures,   N/A
                and facilities
 2       I      Furniture, fixtures,     N/A
                and equipment
 3       I      Other general            N/A
                property, plant, and
                equipment
 4       I      Heritage assets          N/A
 5       I      Stewardship land         N/A
      Section: B                Section Name: Cost Estimate (SFFAS No. 42, par. 16)                        No Data: YES                Line Attributes: Dollars
                                                                                                                                     Rounding Method: User-Defined          Decimal: User-Defined
Line Status     Line Description         NB              Current FY     D                Prior FY     C
 1              General property,        N/A
                plant, and equipment
 2              Heritage assets          N/A
 3              Stewardship land         N/A




     Tab: Other Text Data

        Section: B                 Section Name: Cost Estimate (SFFAS No. 42, par. 16)                      No Data: YES

 Line         Question                                                                                                  Answer
 1            Provide a description of what constitutes deferred maintenance and repairs.
 2            Provide a description of how deferred maintenance and repairs are measured.




                                                                                                          - 9 -
                                                                                                                                                                              11/16/2016 06:27:04

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                      GF007 - Other Data Report

 Other Data: 14               Risk Assumed-Federal Insurance and Guarantee Programs(SFFAS No. 5, pars. 105, 106,and 114)            Fiscal Year: 2016             Period: SEPTEMBER
         Entity: 9100         Department of Education                                                                                   Agency Notes:    N/A
        Status: Complete                                                                            I = Inactive Line


     Tab: Other Data Info.
      Section: A                Section Name: Risk Assumed                                                 No Data: YES             Line Attributes: Dollars
                                                                                                                                  Rounding Method: User-Defined         Decimal: User-Defined
Line Status      Line Description        NB       2016 - SEPTEMBER            2015 - SEPTEMBER                  Previously Rptd      Line Item Changes
 1               Present value of       Debit
                 unpaid expected
                 losses (net of
                 associated
                 premiums)
 2               Periodic changes       Debit




     Tab: Other Text Data

        Section: A                  Section Name: Risk Assumed                                              No Data: YES

 Line          Question                                                                                                 Answer
 1            Provide the indicators of the range of uncertainty around federal insurance and guarantee
              programs related estimates and sensitivity of the estimates to changes in major assumptions
              (SFFAS No.5, par.114).
 2            Provide the actuarial or financial methods used to measure the present value of unpaid expected
              losses (SFFAS No. 5. par. 114).
 3            Provide a listing of the federal insurance and guarantee programs (SFFAS No. 5, par. 105).




                                                                                                        - 10 -
                                                                                                                                                                                 11/16/2016 06:27:04

                                                                                   U.S. Department of the Treasury
                                                                                     Bureau of the Fiscal Service
                                                                               Governmentwide Financial Report System
                                                                                     GF007 - Other Data Report

 Other Data: 15              Budget Deficit Reconciliation                                                                              Fiscal Year: 2016           Period: SEPTEMBER
       Entity: 9100          Department of Education                                                                                        Agency Notes:      12
      Status: Complete                                                                            I = Inactive Line


  Tab: Other Data Info.
     Section: A                Section Name: Operating Revenue to Budget Receipts (All entities                                         Line Attributes: Dollars
                                             must complete Sections A and B)                                                          Rounding Method: Millions            Decimal: Zero


Line Status   Line Description         NB          Budget Receipts       D   Operating Revenue        C    Diff Budget Receipts vs Cust Collections Trans to Cust Collections Received Adj Diff Between Budget
                                                                                                            Operating Revenue        GF or Rec Agency      D from Collecting Agency    Rec vs Operating Rev
                                                                                                                                                                                     C
 1            Individual income tax    N/A
              and tax withholdings
 2            Corporation income       N/A
              taxes
 3            Unemployment taxes       N/A
 4            Excise taxes             N/A
 5            Estate and gift taxes    N/A
 6            Customs duties           N/A
 7            Other taxes and          N/A                           4                           10                              -6                                                                       -6
              receipts (non-
              federal)
 8            Miscellaneous            N/A
              Earned revenue
 9            Total                    N/A                           4                       -10                                 -6                                                                       -6
     Section: B                Section Name: Net Outlays to Statement of Budgetary Resources                                            Line Attributes: Dollars
                                                                                                                                      Rounding Method: Millions            Decimal: Zero
Line Status   Line Description         NB         CY - MTS net outlays-        CY - Agency SBR                 CY - Difference
                                                           Table 5    D budgetary net outlays C
 1            Net Outlays (gross       N/A                     76,981                      76,965                                16
              outlays less
              offsetting collections
              and distributed
              offsetting receipts)




                                                                                                          - 11 -
                                                                                                                                                                           11/16/2016 06:27:04

                                                                                U.S. Department of the Treasury
                                                                                  Bureau of the Fiscal Service
                                                                            Governmentwide Financial Report System
                                                                                  GF007 - Other Data Report

 Other Data: 15             Budget Deficit Reconciliation                                                                        Fiscal Year: 2016             Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                                  Agency Notes:    12
      Status: Complete                                                                        I = Inactive Line


  Tab: Other Data Info.
     Section: C               Section Name: Earned Revenue to Undistributed Offsetting Receipts-     No Data: YES                Line Attributes:
                                            Employer Share, Employee Retirement (STATE, DOD
                                            and OPM only)


Line Status   Line Description         NB      CY - MTS undistributed        CY - Earned Revenue         CY - Difference
                                             offsetting receipts-Table 5 reported on agency PAR




     Section: D               Section Name: Earned Revenue to Undistributed Offsetting Receipts      No Data: YES                Line Attributes: Dollars
                                            - Interest Rec by Trust Funds (DOS, DOD, DOL, SSA,                                 Rounding Method: User-Defined         Decimal: User-Defined
                                            HHS and OPM only)


Line Status   Line Description         NB     CY - MTS Undistributed         CY - Earned Revenue                  Difference
                                             Offsetting Receipts, Tble 5 Rejported on agency PAR
                                                                      D                         C
 1      I     Foreign Service          N/A
              Retirement and
              Disability Fund (State
              only)
 2      I     Military Retirement      N/A
              Fund (DOD only)
 3      I     Civil Service            N/A
              Retirement and
              Disability Fund (OPM
              only)
 4      I     Unemployment Trust       N/A
              Fund (DOL only)
 5      I     Federal Old-Age          N/A
              and Survivors
              Insurance (SSA only)
 6      I     Federal Disability       N/A
              Insurance Trust Fund
              (SSA only)
 7      I     Federal Hospital         N/A



                                                                                                    - 12 -
                                                                                                                                                                                           11/16/2016 06:27:04

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                      GF007 - Other Data Report

 Other Data: 15               Budget Deficit Reconciliation                                                                               Fiscal Year: 2016                 Period: SEPTEMBER
         Entity: 9100         Department of Education                                                                                         Agency Notes:       12
        Status: Complete                                                                            I = Inactive Line


     Tab: Other Data Info.
      Section: D                Section Name: Earned Revenue to Undistributed Offsetting Receipts          No Data: YES                  Line Attributes: Dollars
                                              - Interest Rec by Trust Funds (DOS, DOD, DOL, SSA,                                       Rounding Method: User-Defined                 Decimal: User-Defined
                                              HHS and OPM only)


Line Status      Line Description         NB     CY - MTS Undistributed         CY - Earned Revenue                     Difference
                                                Offsetting Receipts, Tble 5 Rejported on agency PAR
                                                                         D                         C
            Insurance (Medicare
            Part A) (HHS only)
 8    I     Federal               N/A
            Supplementary
            Medical Insurance
            (Medicare Parts B
            and D) (HHS only)
   Section: E              Section Name: Operating Revenue to Undistributed Offsetting                     No Data: YES                   Line Attributes:
                                         Receipts (DOI only)


Line Status      Line Description         NB            MTS undistributed       Miscellaneous earned                    Difference
                                                offsetting receipts-Table 5 revenue reported on SCNP




     Tab: Other Text Data

        Section: A                  Section Name: Operating Revenue to Budget Receipts (All entities
                                                  must complete Sections A and B)

 Line         Question                                                                                                    Answer
 1            Collecting agencies provide the Closing Package line in which the custodial transfer-out
              (disposition of collection) was recorded and the trading partner code.
 2            Receiving agencies provide the Closing Package line in which the custodial transfer-in/revenue
              was recorded and the trading partner code.
 3            Provide a detailed description of the difference including: Treasury account symbol, dollar                 The difference is due primarily to funds 5557 and 1090 and will be corrected in FY 2017.
              amounts, a reference to where these amounts can be traced, and whether this difference will be


                                                                                                        - 13 -
                                                                                                                                                                                       11/16/2016 06:27:04

                                                                                  U.S. Department of the Treasury
                                                                                    Bureau of the Fiscal Service
                                                                              Governmentwide Financial Report System
                                                                                    GF007 - Other Data Report

Other Data: 15              Budget Deficit Reconciliation                                                                             Fiscal Year: 2016                  Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                                       Agency Notes:        12
       Status: Complete                                                                           I = Inactive Line



    Tab: Other Text Data

       Section: A               Section Name: Operating Revenue to Budget Receipts (All entities
                                              must complete Sections A and B)

Line        Question                                                                                                  Answer
            resolved next FY.
    Tab: Other Text Data

       Section: B               Section Name: Net Outlays to Statement of Budgetary Resources

Line        Question                                                                                                  Answer
1           Provide a detailed description of the difference including: Treasury account symbol, dollar               The difference is in fund 5557 and will be resolved next year.
            amounts, a reference to where these amounts can be traced, and whether this difference will be
            resolved next FY.
    Tab: Other Text Data

       Section: C               Section Name: Earned Revenue to Undistributed Offsetting Receipts-           No Data: YES
                                              Employer Share, Employee Retirement (STATE, DOD
                                              and OPM only)

Line        Question                                                                                                  Answer
1           Provide a cross-reference to intragovernmental earned revenue reported in PAR/AFR in the
            "Agency Notes" field.
2           Provide a detailed description of the difference including: Treasury account symbol, dollar
            amounts, a reference to where these amounts can be traced, and whether this difference will be
            resolved next FY.
    Tab: Other Text Data

       Section: E               Section Name: Operating Revenue to Undistributed Offsetting                  No Data: YES
                                              Receipts (DOI only)

Line        Question                                                                                                  Answer
1           Provide a detailed description of the difference including: Treasury account symbol, dollar
            amounts, a reference to where these amounts can be traced, and whether this difference will be
            resolved next FY.




                                                                                                      - 14 -
                                                                                                                                                                              11/16/2016 06:27:04

                                                                               U.S. Department of the Treasury
                                                                                 Bureau of the Fiscal Service
                                                                           Governmentwide Financial Report System
                                                                                 GF007 - Other Data Report

 Other Data: 16              Components of Loans and Equity Investments Receivable                                             Fiscal Year: 2016                Period: SEPTEMBER
       Entity: 9100          Department of Education                                                                               Agency Notes:       5
      Status: Complete                                                                         I = Inactive Line


  Tab: Other Data Info.
     Section: A               Section Name: Components of Direct Loans Receivable, Gross-                                      Line Attributes: Dollars
                                            Current FY                                                                       Rounding Method: Millions                  Decimal: Zero


Line Status   Line Description        NB      CY-Federal Direct Student    CY-Electric Loans      CY-Rural Housing Service         CY-Federal Family               CY-Water and         CY-Farm Loans
                                                              Loans                                                                Education Loan          Environmental Loans
 1            Direct Loans            Debit                   845,061                                                                        132,233
              Receivable, Gross-
              Beginning of Year
 2            Disbursements           Debit                   140,493                                                                          6,724
              (loans
              made/securities
              purchased)
 3            Repayments              Debit                   -71,485                                                                        -18,767
 4            Losses                  Debit
 5            Write-offs              Debit
 6            Capitalized interest    Debit                    20,333                                                                          2,253
 7            Capitalized dividends Debit
 8            Other                   Debit                    19,187                                                                          5,552
 9            Direct Loans            N/A                     953,589                                                                        127,995
              receivable, gross-
              end of the year

Line Status   Line Description        NB        CY-Export-Import Bank CY-International Monetary      CY-Housing and Urban     CY-Telecommunication             CY-All other loans                   Total
                                                             Loans                      Fund               Development                    loans                     receivable
 1            Direct Loans            Debit                                                                                                                                3,238                    980,532
              Receivable, Gross-
              Beginning of Year
 2            Disbursements           Debit                                                                                                                                 219                     147,436
              (loans
              made/securities
              purchased)
 3            Repayments              Debit                                                                                                                                -160                     -90,412
 4            Losses                  Debit
 5            Write-offs              Debit
 6            Capitalized interest    Debit                                                                                                                                   33                     22,619
 7            Capitalized dividends   Debit
 8            Other                   Debit                                                                                                                                   47                     24,786
 9            Direct Loans             N/A                                                                                                                                 3,377                1,084,961


                                                                                                   - 15 -
                                                                                                                                                                                  11/16/2016 06:27:04

                                                                                  U.S. Department of the Treasury
                                                                                    Bureau of the Fiscal Service
                                                                              Governmentwide Financial Report System
                                                                                    GF007 - Other Data Report

 Other Data: 16              Components of Loans and Equity Investments Receivable                                                 Fiscal Year: 2016                Period: SEPTEMBER
       Entity: 9100          Department of Education                                                                                   Agency Notes:       5
      Status: Complete                                                                            I = Inactive Line


  Tab: Other Data Info.
     Section: A               Section Name: Components of Direct Loans Receivable, Gross-                                          Line Attributes: Dollars
                                            Current FY                                                                           Rounding Method: Millions                  Decimal: Zero


Line Status   Line Description        NB       CY-Export-Import Bank CY-International Monetary          CY-Housing and Urban      CY-Telecommunication             CY-All other loans                   Total
                                                            Loans                      Fund                   Development                     loans                     receivable
              receivable, gross-
              end of the year




     Section: B               Section Name: Components of Direct Loans Receivable, Gross -              No Data: YES               Line Attributes: Dollars
                                            Prior Year                                                                           Rounding Method: Millions                  Decimal: Zero


Line Status   Line Description        NB      PY-Federal Direct Student       PY-Electric Loans       PY-Rural Housing Service         PY-Federal Family               PY-Water and         PY-Farm Loans
                                                              Loans                                                                    Education Loan          Environmental Loans
 1      I     Direct Loans           Debit
              Receivable, gross -
              beginning of year
 2      I     Disbursements          Debit
              (loans
              made/securities
              purchased)
 3      I     Repayments             Debit
 4      I     Losses                 Debit
 5      I     Capitalized interest   Debit
 6      I     Capitalized dividends Debit
 7      I     Other                  Debit
 8      I     Direct Loans           Debit
              receivable, gross-
              end of the year

Line Status   Line Description        NB       PY-Export-Import Bank            PY-U.S. Agency for      PY-Housing and Urban PY-All TARP programs                  PY-All other loans              PY-Total
                                                            Loans         International Development           Development                                               receivable

 1     I      Direct Loans            Debit



                                                                                                      - 16 -
                                                                                                                                                                             11/16/2016 06:27:04

                                                                              U.S. Department of the Treasury
                                                                                Bureau of the Fiscal Service
                                                                          Governmentwide Financial Report System
                                                                                GF007 - Other Data Report

 Other Data: 16             Components of Loans and Equity Investments Receivable                                            Fiscal Year: 2016                 Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                              Agency Notes:       5
      Status: Complete                                                                       I = Inactive Line


  Tab: Other Data Info.
     Section: B               Section Name: Components of Direct Loans Receivable, Gross -         No Data: YES              Line Attributes: Dollars
                                            Prior Year                                                                     Rounding Method: Millions                   Decimal: Zero


Line Status   Line Description        NB      PY-Export-Import Bank         PY-U.S. Agency for     PY-Housing and Urban PY-All TARP programs                  PY-All other loans              PY-Total
                                                           Loans      International Development          Development                                               receivable

              Receivable, gross -
              beginning of year
 2      I     Disbursements           Debit
              (loans
              made/securities
              purchased)
 3      I     Repayments              Debit
 4      I     Losses                  Debit
 5      I     Capitalized interest    Debit
 6      I     Capitalized dividends   Debit
 7      I     Other                   Debit
 8      I     Direct Loans           Debit
              receivable, gross-
              end of the year
     Section: C               Section Name: Components of Loan Guarantees, Gross-Current Year                                Line Attributes: Dollars
                                                                                                                           Rounding Method: Millions                   Decimal: Zero
Line Status   Line Description        NB          CY-Federal Family       CY-Federal Housing         CY-Veterans Housing   CY-Export-Import Bank CY-Small Business Loans CY-Israeli Loan Guarantee
                                                 Education Loans       Administration Loans            Benefit Program                  Loans                                          Program
 1            Guaranteed Loans,       Debit                 220,000
              gross-beginning of
              the year
 2            Disbursements           Debit
              (loans
              made/securities
              purchased)
 3            Repayments              Debit                 -23,137
 4            Other                   Debit
 5            Guaranteed Loans,       N/A                   196,863
              gross-end of the
              year

Line Status   Line Description        NB              CY-Federal Ship CY-Rural Housing Service CY-Business and Industry           CY-Export Credit       CY-All other Guaranteed              CY-Total



                                                                                                  - 17 -
                                                                                                                                                                            11/16/2016 06:27:04

                                                                               U.S. Department of the Treasury
                                                                                 Bureau of the Fiscal Service
                                                                           Governmentwide Financial Report System
                                                                                 GF007 - Other Data Report

 Other Data: 16            Components of Loans and Equity Investments Receivable                                             Fiscal Year: 2016                Period: SEPTEMBER
       Entity: 9100        Department of Education                                                                               Agency Notes:      5
      Status: Complete                                                                      I = Inactive Line


  Tab: Other Data Info.
     Section: C              Section Name: Components of Loan Guarantees, Gross-Current Year                                 Line Attributes: Dollars
                                                                                                                           Rounding Method: Millions                  Decimal: Zero
Line Status   Line Description      NB                 CY-Federal Ship CY-Rural Housing Service CY-Business and Industry         CY-Export Credit       CY-All other Guaranteed              CY-Total
                                                     Financing Fund                                            Loans        Guarantee Programs                          loans
 1            Guaranteed Loans,     Debit                                                                                                                                                         220,000
              gross-beginning of
              the year
 2            Disbursements         Debit
              (loans
              made/securities
              purchased)
 3            Repayments            Debit                                                                                                                                                         -23,137
 4            Other                 Debit
 5            Guaranteed Loans,       N/A                                                                                                                                                         196,863
              gross-end of the
              year
     Section: D               Section Name: Components of Loan Guarantees, Gross - Prior Year     No Data: YES               Line Attributes: Dollars
                                                                                                                           Rounding Method: Millions                  Decimal: Zero
Line Status   Line Description      NB            PY-Federal Family        PY-Federal Housing       PY-Veterans Housing    PY-Export-Import Bank    PY-Small Business Loans PY-Israeli Loan Guarantee
                                                 Education Loans        Administration Loans          Benefit Program                   Loans                                             Program
 1      I      Guaranteed Loans,    Debit
               gross-beginning of
               the year
 2      I      Disbursements        Debit
               (loans
               made/securities
               purchased)
 3      I      Repayments           Debit
 4      I      Other                Debit
 5      I      Guaranteed Loans,    Debit
               gross-end of the
               year

Line Status   Line Description      NB      PY-OPIC Credit Program     PY-Rural Housing Service PY-Business and Industry         PY-Export Credit       PY-All other Guaranteed              PY-Total
                                                                                                               Loans        Guarantee Programs                          loans
 1      I     Guaranteed Loans,     Debit
              gross-beginning of
              the year
 2      I     Disbursements         Debit


                                                                                                - 18 -
                                                                                                                                                                                     11/16/2016 06:27:04

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                      GF007 - Other Data Report

 Other Data: 16               Components of Loans and Equity Investments Receivable                                                 Fiscal Year: 2016                 Period: SEPTEMBER
        Entity: 9100          Department of Education                                                                                   Agency Notes:       5
       Status: Complete                                                                            I = Inactive Line


  Tab: Other Data Info.
      Section: D                   Section Name: Components of Loan Guarantees, Gross - Prior Year        No Data: YES              Line Attributes: Dollars
                                                                                                                                  Rounding Method: Millions                   Decimal: Zero
Line Status      Line Description         NB      PY-OPIC Credit Program   PY-Rural Housing Service PY-Business and Industry            PY-Export Credit        PY-All other Guaranteed                 PY-Total
                                                                                                                   Loans           Guarantee Programs                           loans
                 (loans
                 made/securities
                 purchased)
 3       I       Repayments               Debit
 4       I       Other                    Debit
 5       I       Guaranteed Loans,        Debit
                 gross-end of the
                 year

      Section: E                   Section Name: Credit reform subsidy re-estimate and loan                                         Line Attributes: Dollars
                                                 modification amounts, in whole dollars                                           Rounding Method: Millions                   Decimal: Zero


Line Status      Line Description         NB        2016 - SEPTEMBER          2015 - SEPTEMBER           One Year Preceding the
                                                                                                                    Prior FY
 1               Credit reform subsidy Credit                     31,885                      -8,498
                 re-estimate amounts
 2               Loan Modifications    Credit                        175                       9,936
     Threshold
      Line Description                                              Question                                                                 Answer
      Other Data Info - Credit reform subsidy re-estimate           Please provide explanations for any amounts that have                    Direct Loan program re-estimated subsidy cost was adjusted
      amounts (2016 - SEPTEMBER)                                    changed by 10% or more and or greater than 500,000                       upward by $21.8 billion in FY 2016. The re-estimates reflect
                                                                    between the current fiscal year and prior fiscal year.                   several updated assumptions: however, in this case, the size of
                                                                    (Unaudited)                                                              the net upward re-estimate was due largely to collection rates on
                                                                                                                                             defaulted loans and repayment plan selection. Actual collections
                                                                                                                                             on defaults since FY 2011 were lower than anticipated, which
                                                                                                                                             reduced estimated lifetime rates and increased the cost to the
                                                                                                                                             Department by $10.1 billion. For repayment plan selection, a
                                                                                                                                             greater percentage of borrowers chose costlier plans than had
                                                                                                                                             been estimated and increased the cost to the Department by $8.1
                                                                                                                                             billion. The percentage of borrowers choosing an income-driven
                                                                                                                                             repayment plan was the primary cost driver for that assumption.

                                                                                                                                             FFEL guaranteed re-estimated subsidy cost was adjusted upward
                                                                                                                                             by $10.2 billion in FY 2016. The net upward re-estimates in these
                                                                                                                                             programs were due primarily to collection rates on defaulted loans
                                                                                                                                             which were lower than anticipated.



                                                                                                       - 19 -
                                                                                                                                                                                                11/16/2016 06:27:04

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                        GF007 - Other Data Report

Other Data: 16                Components of Loans and Equity Investments Receivable                                                        Fiscal Year: 2016                   Period: SEPTEMBER
        Entity: 9100          Department of Education                                                                                          Agency Notes:         5
       Status: Complete                                                                               I = Inactive Line


    Tab: Other Data Info.
     Section: E                 Section Name: Credit reform subsidy re-estimate and loan                                                  Line Attributes: Dollars
                                              modification amounts, in whole dollars                                                    Rounding Method: Millions                        Decimal: Zero

    Threshold
      Line Description                                               Question                                                                       Answer
      Other Data Info - Loan Modifications (2016 -                   Please provide explanations for any amounts that have                          In contrast to FY 2015, there were no Direct Loan modifications in
      SEPTEMBER)                                                     changed by 10% or more and or greater than 500,000                             FY 2016.
                                                                     between the current fiscal year and prior fiscal year.
                                                                     (Unaudited)




    Tab: Other Text Data

       Section: A                 Section Name: Components of Direct Loans Receivable, Gross-
                                                Current FY

Line         Question                                                                                                     Answer
1            Provide details regarding the programs reported in Sections A and B that comprise amounts                    The All Other Loans Receivable column includes the Facilities Loan Program, the Perkins
             reported in the "all                                                                                         Loan Program, HEAL Loan Program, and the TEACH Grant Program.
             other Loans Receivable" column.
2            Provide a detailed description of the amounts reported in Sections A and B that comprise the                 Amounts that comprise the "Other" line primarily consist of accrued interest, reduction of
             "Other" line.                                                                                                interest receivable due to interest capitalization (offset to the increase to principal reported on
                                                                                                                          line 5), and loan cancellations due to death, disability, and bankruptcy.

3            Provide details regarding the programs reported in Sections C and D that comprise amounts
             reported in the "all
             other Guaranteed Loans" column.
4            Provide a detailed description of the amounts reported in Sections C and D that comprise the
             "Other" line

5            Provide details regarding credit reform subsidy re-estimates reported in Sections E, including a
             cross-reference
             to agency PAR
6            Provide details regarding any loan modifications reported in Section E, including a cross-
             reference to agency
             PAR
7            Provide any other relevant information pertaining to this note including a cross-reference to
             agency PAR.



                                                                                                          - 20 -
                                                                                                                                                               11/16/2016 06:27:04

                                                                               U.S. Department of the Treasury
                                                                                 Bureau of the Fiscal Service
                                                                           Governmentwide Financial Report System
                                                                                 GF007 - Other Data Report

 Other Data: 17               Federal Oil and Gas Resources                                                          Fiscal Year: 2016             Period: SEPTEMBER
       Entity: 9100       Department of Education                                                                        Agency Notes:    N/A
      Status: Complete                                                                        I = Inactive Line


  Tab: Other Data Info.
     Section: A                Section Name: Asset Value for Oil and Gas Proved Resources -         No Data: YES     Line Attributes: Dollars
                                             Offshore (SFFAS No. 38, pars. 15, 21)                                 Rounding Method: User-Defined         Decimal: User-Defined


Line Status   Line Description         NB     2016 - SEPTEMBER      D   2015 - SEPTEMBER       D
 1            Oil and Lease            N/A
              Condensate
 2            Natural Gas, Wet         N/A
              After Lease
              Separation
 3                                     N/A
 4                                     N/A
 5                                     N/A
     Section: B                Section Name: Asset Value for Oil and Gas Proved Reserves -          No Data: YES     Line Attributes: Dollars
                                             Onshore (SFFAS No. 38, pars. 15, 21)                                  Rounding Method: User-Defined         Decimal: User-Defined


Line Status   Line Description         NB     2016 - SEPTEMBER      D   2015 - SEPTEMBER       D
 1            Oil and Lease            N/A
              Condensate
 2            Natural Gas, Wet         N/A
              After Lease
              Separation
 3                                     N/A
 4                                     N/A
 5                                     N/A




                                                                                                   - 21 -
                                                                                                                                                             11/16/2016 06:27:04

                                                                                U.S. Department of the Treasury
                                                                                  Bureau of the Fiscal Service
                                                                            Governmentwide Financial Report System
                                                                                  GF007 - Other Data Report

 Other Data: 17               Federal Oil and Gas Resources                                                        Fiscal Year: 2016              Period: SEPTEMBER
       Entity: 9100       Department of Education                                                                     Agency Notes:         N/A
      Status: Complete                                                                        I = Inactive Line


  Tab: Other Data Info.
     Section: C                Section Name: Quantity of Oil and Gas Proved Reserves - Offshore     No Data: YES   Line Attributes: Units
                                             (SFFAS No. 38, par. 28e)


Line Status   Line Description         NB       2016 - SEPTEMBER          2015 - SEPTEMBER
 1            Oil and Lease            N/A
              Condensate
 2            Natural Gas, Wet         N/A
              After Lease
              Separation
 3                                     N/A
 4                                     N/A
 5                                     N/A
     Section: D                Section Name: Quantity of Oil and Gas Proved Reserves - Onshore      No Data: YES   Line Attributes: Units
                                             (SFFAS No. 38, par. 28e)


Line Status   Line Description         NB       2016 - SEPTEMBER          2015 - SEPTEMBER
 1            Oil and Lease            N/A
              Condensate
 2            Natural Gas, Wet         N/A
              After Lease
              Separation
 3                                     N/A
 4                                     N/A
 5                                     N/A




                                                                                                  - 22 -
                                                                                                                                                           11/16/2016 06:27:04

                                                                           U.S. Department of the Treasury
                                                                             Bureau of the Fiscal Service
                                                                       Governmentwide Financial Report System
                                                                             GF007 - Other Data Report

 Other Data: 17           Federal Oil and Gas Resources                                                          Fiscal Year: 2016             Period: SEPTEMBER
       Entity: 9100       Department of Education                                                                    Agency Notes:    N/A
      Status: Complete                                                                   I = Inactive Line


  Tab: Other Data Info.
     Section: E             Section Name: Average of the Regional Average Prices for Oil and    No Data: YES     Line Attributes: Dollars
                                          Gas Proved Reserves - Offshore (SFFAS No. 38, par.                   Rounding Method: User-Defined         Decimal: User-Defined
                                          28e)


Line Status   Line Description     NB     2016 - SEPTEMBER      D   2015 - SEPTEMBER      D
 1            Oil and Lease        N/A
              Condensate
 2            Natural Gas, Wet     N/A
              After Lease
              Separation
 3                                 N/A
 4                                 N/A
 5                                 N/A
     Section: F             Section Name: Average of the Regional Average Prices for Oil and    No Data: YES     Line Attributes: Dollars
                                          Gas Proved Reserves - Onshore (SFFAS No. 38, par.                    Rounding Method: User-Defined         Decimal: User-Defined
                                          28e)


Line Status   Line Description     NB     2016 - SEPTEMBER      D   2015 - SEPTEMBER      D
 1            Oil and Lease        N/A
              Condensate
 2            Natural Gas, Wet     N/A
              After Lease
              Separation
 3                                 N/A
 4                                 N/A
 5                                 N/A




                                                                                               - 23 -
                                                                                                                                                        11/16/2016 06:27:04

                                                                               U.S. Department of the Treasury
                                                                                 Bureau of the Fiscal Service
                                                                           Governmentwide Financial Report System
                                                                                 GF007 - Other Data Report

 Other Data: 17               Federal Oil and Gas Resources                                                      Fiscal Year: 2016           Period: SEPTEMBER
       Entity: 9100       Department of Education                                                                   Agency Notes:      N/A
      Status: Complete                                                                      I = Inactive Line


  Tab: Other Data Info.
     Section: G                Section Name: Average Royalty Rate for Oil and Gas Proved          No Data: YES   Line Attributes: Percent
                                             Reserves - Offshore (SFFAS No. 38, par. 28e)


Line Status   Line Description         NB       2016 - SEPTEMBER         2015 - SEPTEMBER
 1            Oil and Lease            N/A
              Condensate
 2            Natural Gas, Wet         N/A
              After Lease
              Separation
 3                                     N/A
 4                                     N/A
 5                                     N/A
     Section: H                Section Name: Average Royalty Rate for Oil and Gas Proved          No Data: YES   Line Attributes: Percent
                                             Reserves - Onshore (SFFAS No. 38, par. 28e)


Line Status   Line Description         NB       2016 - SEPTEMBER         2015 - SEPTEMBER
 1            Oil and Lease            N/A
              Condensate
 2            Natural Gas, Wet         N/A
              After Lease
              Separation
 3                                     N/A
 4                                     N/A
 5                                     N/A




                                                                                                - 24 -
                                                                                                                                                                                11/16/2016 06:27:04

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                        GF007 - Other Data Report

 Other Data: 17                  Federal Oil and Gas Resources                                                                       Fiscal Year: 2016              Period: SEPTEMBER
         Entity: 9100         Department of Education                                                                                    Agency Notes:        N/A
        Status: Complete                                                                              I = Inactive Line


     Tab: Other Data Info.
      Section: I                  Section Name: Quantity of Gulf of Mexico Provided Reserves-Royalty         No Data: YES            Line Attributes: Units
                                                Relief Provisions (SFFAS No. 38, par. 28h)


Line Status      Line Description         NB       2016 - SEPTEMBER
 1               Oil and Lease            N/A
                 Condensate
 2               Natural Gas, Wet         N/A
                 After Lease
                 Separation
 3                                        N/A
 4                                        N/A
 5                                        N/A
      Section: J                  Section Name: Net Present Value of Gulf of Mexico Proved                   No Data: YES            Line Attributes: Dollars
                                                Reserves-Royalty Relief Provisions (SFFAS No. 38,                                  Rounding Method: User-Defined          Decimal: User-Defined
                                                par. 28h)


Line Status      Line Description         NB       2016 - SEPTEMBER
 1               Royalty Free Proved     Debit
                 Reserves Volumes
                 (Gulf of Mexico)




     Tab: Other Text Data

        Section: A                  Section Name: Asset Value for Oil and Gas Proved Resources -               No Data: YES
                                                  Offshore (SFFAS No. 38, pars. 15, 21)

 Line         Question                                                                                                    Answer
 1            Provide a concise statement explaining the nature and valuation (for example, measurement
              method, and significant assumptions) of federal oil and gas resources.
 2            Describe any significant changes in the estimation methodology, including the underlying
              assumptions.
 3            Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
              significant accounting policies pertaining to this note.



                                                                                                           - 25 -
                                                                                                                                                                      11/16/2016 06:27:04

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                      GF007 - Other Data Report

Other Data: 17              Federal Oil and Gas Resources                                                                        Fiscal Year: 2016         Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                                 Agency Notes:    N/A
       Status: Complete                                                                             I = Inactive Line



    Tab: Other Text Data

       Section: B               Section Name: Asset Value for Oil and Gas Proved Reserves -                  No Data: YES
                                              Onshore (SFFAS No. 38, pars. 15, 21)

Line        Question                                                                                                    Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method, significant assumptions) of federal oil and gas resources.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
            significant accounting policies pertaining to this note.
    Tab: Other Text Data

       Section: C               Section Name: Quantity of Oil and Gas Proved Reserves - Offshore             No Data: YES
                                              (SFFAS No. 38, par. 28e)

Line        Question                                                                                                    Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method, significant assumptions) of federal oil and gas resources.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
            significant accounting policies pertaining to this note.
    Tab: Other Text Data

       Section: D               Section Name: Quantity of Oil and Gas Proved Reserves - Onshore              No Data: YES
                                              (SFFAS No. 38, par. 28e)

Line        Question                                                                                                    Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method, significant assumptions) of federal oil and gas resources.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
            significant accounting policies pertaining to this note.
    Tab: Other Text Data

       Section: E               Section Name: Average of the Regional Average Prices for Oil and             No Data: YES
                                              Gas Proved Reserves - Offshore (SFFAS No. 38, par.
                                              28e)




                                                                                                         - 26 -
                                                                                                                                                                      11/16/2016 06:27:04

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                      GF007 - Other Data Report

Other Data: 17              Federal Oil and Gas Resources                                                                        Fiscal Year: 2016         Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                                 Agency Notes:    N/A
       Status: Complete                                                                             I = Inactive Line



    Tab: Other Text Data

       Section: E               Section Name: Average of the Regional Average Prices for Oil and             No Data: YES
                                              Gas Proved Reserves - Offshore (SFFAS No. 38, par.
                                              28e)

Line        Question                                                                                                    Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method, significant assumptions) of federal oil and gas resources.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
            significant accounting policies pertaining to this note.
    Tab: Other Text Data

       Section: F               Section Name: Average of the Regional Average Prices for Oil and             No Data: YES
                                              Gas Proved Reserves - Onshore (SFFAS No. 38, par.
                                              28e)

Line        Question                                                                                                    Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method, significant assumptions) of federal oil and gas resources.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
            significant accounting policies pertaining to this note.
    Tab: Other Text Data

       Section: G               Section Name: Average Royalty Rate for Oil and Gas Proved                    No Data: YES
                                              Reserves - Offshore (SFFAS No. 38, par. 28e)

Line        Question                                                                                                    Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method, significant assumptions) of federal oil and gas resources.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
            significant accounting policies pertaining to this note.




                                                                                                         - 27 -
                                                                                                                                                                      11/16/2016 06:27:04

                                                                                    U.S. Department of the Treasury
                                                                                      Bureau of the Fiscal Service
                                                                                Governmentwide Financial Report System
                                                                                      GF007 - Other Data Report

Other Data: 17              Federal Oil and Gas Resources                                                                        Fiscal Year: 2016         Period: SEPTEMBER
       Entity: 9100         Department of Education                                                                                 Agency Notes:    N/A
       Status: Complete                                                                             I = Inactive Line



    Tab: Other Text Data

       Section: H               Section Name: Average Royalty Rate for Oil and Gas Proved                    No Data: YES
                                              Reserves - Onshore (SFFAS No. 38, par. 28e)

Line        Question                                                                                                    Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method, significant assumptions) of federal oil and gas resources.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
            significant accounting policies pertaining to this note.
    Tab: Other Text Data

       Section: I               Section Name: Quantity of Gulf of Mexico Provided Reserves-Royalty           No Data: YES
                                              Relief Provisions (SFFAS No. 38, par. 28h)

Line        Question                                                                                                    Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method, significant assumptions) of federal oil and gas resources.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
            significant accounting policies pertaining to this note.
    Tab: Other Text Data

       Section: J               Section Name: Net Present Value of Gulf of Mexico Proved                     No Data: YES
                                              Reserves-Royalty Relief Provisions (SFFAS No. 38,
                                              par. 28h)

Line        Question                                                                                                    Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method, significant assumptions) of federal oil and gas resources.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to this note. At a minumum, describe briefly the
            significant accounting policies pertaining to this note.




                                                                                                         - 28 -
                                                                                                                                                                11/16/2016 06:27:04

                                                                                 U.S. Department of the Treasury
                                                                                   Bureau of the Fiscal Service
                                                                             Governmentwide Financial Report System
                                                                                   GF007 - Other Data Report

 Other Data: 18              Federal Natural Resources (Other than Oil and Gas)                                       Fiscal Year: 2016             Period: SEPTEMBER
        Entity: 9100         Department of Education                                                                      Agency Notes:    N/A
       Status: Complete                                                                        I = Inactive Line


  Tab: Other Data Info.
      Section: A                Section Name: Asset Value for Federal Natural Resources (Other       No Data: YES     Line Attributes: Dollars
                                              than Oil and Gas) (SFFAS Technical Bulletin 2011-1,                   Rounding Method: User-Defined         Decimal: User-Defined
                                              pars. 17-18)


Line Status    Line Description        NB       2016 - SEPTEMBER
 1       I                            Debit
 2       I                            Debit
 3       I                            Debit
 4       I                            Debit
 5       I                            Debit
 6       I                            Debit
 7       I                            Debit
 8       I                            Debit
 9             Coal Royalties         Debit
 10                                   Debit
      Section: B                Section Name: Annual Rent Payment Rate for Federal Natural           No Data: YES     Line Attributes: Dollars
                                              Resources (Other than Oil and Gas) (SFFAS Tech                        Rounding Method: User-Defined         Decimal: User-Defined
                                              Bulletin 2011-1 par. 27b)


Line Status    Line Description        NB       2016 - SEPTEMBER
 1             Coal Leases            Debit
 2                                    Debit
 3                                    Debit
 4                                    Debit
 5                                    Debit
 6                                    Debit
 7                                    Debit
 8                                    Debit




                                                                                                    - 29 -
                                                                                                                                                                              11/16/2016 06:27:04

                                                                                        U.S. Department of the Treasury
                                                                                          Bureau of the Fiscal Service
                                                                                    Governmentwide Financial Report System
                                                                                          GF007 - Other Data Report

 Other Data: 18                Federal Natural Resources (Other than Oil and Gas)                                                      Fiscal Year: 2016           Period: SEPTEMBER
         Entity: 9100          Department of Education                                                                                    Agency Notes:      N/A
        Status: Complete                                                                                 I = Inactive Line


     Tab: Other Data Info.
      Section: C                 Section Name: Royalty Rate for Federal Natural Resources (Other                   No Data: YES        Line Attributes: Percent
                                               than Oil and Gas) (SFFAS Technical Bulletin 2011-1,
                                               par. 27b)


Line Status      Line Description         NB        2016 - SEPTEMBER
 1               Surface-mining           N/A
                 Methods (Coal)
 2               Underground Mining       N/A
                 (Coal)
 3                                        N/A
 4                                        N/A
 5                                        N/A
 6                                        N/A
 7                                        N/A
 8                                        N/A

     Tab: Other Text Data

        Section: A                  Section Name: Asset Value for Federal Natural Resources (Other                  No Data: YES
                                                  than Oil and Gas) (SFFAS Technical Bulletin 2011-1,
                                                  pars. 17-18)

 Line         Question                                                                                                        Answer
 1            Provide a concise statement explaining the nature and valuation (for example, measurement
              method and significan assumptions) of federal natural resources other than oil and gas. Also
              provide information related to significant federal natural resources (other than oil and gas) that
              were not required to be reported per TB 2011-1 and explain why they were not reported.
 2            Describe any significant changes in the estimation methodology, including the underlying
              assumptions.
 3            Provide any other relevant information pertaining to the note. At minimum, describe briefly the
              significant accounting policies pertaining to this note.
     Tab: Other Text Data

        Section: B                  Section Name: Annual Rent Payment Rate for Federal Natural                      No Data: YES
                                                  Resources (Other than Oil and Gas) (SFFAS Tech
                                                  Bulletin 2011-1 par. 27b)

 Line         Question                                                                                                        Answer
 1            Provide a concise statement explaining the nature and valuation (for example, measurement



                                                                                                              - 30 -
                                                                                                                                                                         11/16/2016 06:27:04

                                                                                      U.S. Department of the Treasury
                                                                                        Bureau of the Fiscal Service
                                                                                  Governmentwide Financial Report System
                                                                                        GF007 - Other Data Report

Other Data: 18               Federal Natural Resources (Other than Oil and Gas)                                                     Fiscal Year: 2016         Period: SEPTEMBER
       Entity: 9100          Department of Education                                                                                   Agency Notes:    N/A
       Status: Complete                                                                                I = Inactive Line



    Tab: Other Text Data

       Section: B                Section Name: Annual Rent Payment Rate for Federal Natural                      No Data: YES
                                               Resources (Other than Oil and Gas) (SFFAS Tech
                                               Bulletin 2011-1 par. 27b)

Line        Question                                                                                                       Answer
            method and significan assumptions) of federal natural resources other than oil and gas. Also
            provide information related to significant federal natural resources (other than oil and gas) that
            were not required to be reported per TB 2011-1 and explain why they were not reported.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to the note. At minimum, describe briefly the
            significant accounting policies pertaining to this note.
    Tab: Other Text Data

       Section: C                Section Name: Royalty Rate for Federal Natural Resources (Other                 No Data: YES
                                               than Oil and Gas) (SFFAS Technical Bulletin 2011-1,
                                               par. 27b)

Line        Question                                                                                                       Answer
1           Provide a concise statement explaining the nature and valuation (for example, measurement
            method and significan assumptions) of federal natural resources other than oil and gas. Also
            provide information related to significant federal natural resources (other than oil and gas) that
            were not required to be reported per TB 2011-1 and explain why they were not reported.
2           Describe any significant changes in the estimation methodology, including the underlying
            assumptions.
3           Provide any other relevant information pertaining to the note. At minimum, describe briefly the
            significant accounting policies pertaining to this note.




                                                                                                            - 31 -
U.S. Department of Education
FY 2016 Closing Package Financial Statements
Additional Note No. 1 - Closing Package Financial Statement
Requirements

The Budget and Accounting Procedures Act of 1950 allows the Secretary of the Treasury to
stipulate the format and requirements of executive agencies to furnish financial and
operational information to the President and the Congress to comply with the Government
Management Reform Act of 1994 (GMRA) (Pub. L. No. 103-356) , which requires the
Secretary of the Treasury to prepare and submit annual audited financial statements of the
executive branch . The Secretary of the Treasury developed guidance in the U.S. Department
of the Treasury's Treasury Financial Manual (TFM) Volume I, Part 2, Chapter 4700 and
Treasury's Supplemental Guidance to the TFM Volume I, Part 2, Chapter 4700 dated October
17, 2016 (Supplemental Guidance) to provide agencies with instructions to meet the
requirements of GMRA. The TFM Chapter 4700 and the Supplemental Guidance require
agencies to:


1.   Submit a GTAS A TB which will be used to populate a Reclassified Balance Sheet,
Reclassified Statement of Net Cost, and Reclassified Statement of Changes in Net Position;


2.    List closing package financial statement line item amounts identified as Federal by
trading partner and amount;


3.    Report notes information that is based on the Reclassified Balance Sheet line items and
other notes information required to meet FASAB standards;


4.    Report other data information that is not based on the Reclassified Balance Sheet line
items and other data noted information required to meet FASAB standards; and


5.     Report the information in the FR Notes Report and Other Data Report entitled "2015­
September", "Prior Year", "PY", "Previously Reported", "Line Item Changes", and "Threshold"
[, and the information as of and for the year-ended September 30, 2015 included in the ''Text
Data" of the FR Notes Reports and "Other Text Data" of the Other Data Reports] and the
information in the Additional Note X related to the prior year balances, are presented for
purposes of additional analysis in accordance with TFM Chapter 4700 and the Supplemental
Guidance and are not a required part of the closing package financial statements.

Summary of Significant Accounting Policies
Reporting Entity and Programs
The United States (U .S.) Department of Education (the Department), a cabinet-level agency of
the Executive Branch of the U.S. Government, was established by Congress under the
Department of Education Organization Act (Public Law 96-88) , which became effective on
May 4 , 1980. The mission of the Department is to promote student achievement and
preparation for global competitiveness by fostering educational excellence and ensuring equal
access. The Department engages in four major types of activities: establishing policies related
to federal educational funding , including the distribution of funds, collecting on student loans,
and using data to monitor the use of funds ; supporting data collection and research on
America's schools; identifying major issues in education and focusing national attention on
them ; and enforcing federal laws prohibiting discrimination in programs that receive federal
funds .
The Department is primarily responsible for administering federal student loan and grant
programs and provides technical assistance to loan and grant recipients and other state and
local partners . The significant portion of the financial activities of the Department relate to the
execution of grant and loan programs which are discussed below
Federal Student Loan Programs. The Department administers direct loan , loan guarantee and
other student aid programs to help students and their families finance the cost of postsecondary
education . These include the William D. Ford Federal Direct Loan (Direct Loan) program and the
Federal Family Education Loan (FFEL) program . The Direct Loan program, added to the Higher
Education Act of 1965 (HEA) in 1993 by the Student Loan Reform Act of 1993, authorizes the
Department to make loans through participating schools to eligible undergraduate and graduate
students and their parents. The FFEL program , authorized by the HEA, operates through state
and private nonprofit guaranty agencies which provided loan guarantees on loans made by
private lenders to eligible students. The SAFRA Act which was included in the Health Care and
Education Reconciliation Act of 2010 (HCERA) stated that no new FFEL loans would be made
effective July 1, 2010.
The Department also administers loans for the Historically Black Colleges and Universities
(HBCU) Capital Financing program, the Health Education Assistance Loan (HEAL) program , the
Teacher Education Assistance for College and Higher Education Grant (TEACH) program , along
with low-interest loans to institutions of higher education for the building and renovating of their
facilities through the facilities loan programs.
Grant Programs. The Department has more than 100 grant and loan programs. The three
largest grant programs are Title I, Federal Pell Grant (Pell Grant), and the Individuals with
Disabilities Education Act (IDEA) grants. In addition to student loans and grants, the Department
offers other discretionary grants under a variety of authorizing legislation, awarded using a
competitive process, and formula grants, using formulas determined by Congress with no
application process .
Progra m Offices
The Department has three major program offices that administer most of its loan and grant
programs.
Federal Student Aid (FSA) administers need-based financial assistance programs for students
pursuing postsecondary education and makes available federal grants, direct loans, and work­
study funding to eligible undergraduate and graduate students.
The Office of Elementary and Secondary Education (OESE) assists state and local educational
agencies to improve the achievement of preschool , elementary , and secondary school students,
helps ensure equal access to services leading to such improvement - particularly children with
high needs, and provides financial assistance to local educational agencies whose local
revenues are affected by federal activities.
The Office of Special Education and Rehabilitative Services (OSERS) supports programs that
help provide early intervention and special education services to children and youth with
disabilities. OSERS also supports programs for the vocational rehabilitation of youth and adults
with disabilities, including pre-employment transition services and other transition services
designed to assist students with disabilities to enter postsecondary education and achieve
employment.
Other offices that administer programs and provide leadership, technical assistance, and
financial support to state and local educational activities and institutions of higher education for
reform , strategic investment, and innovation in education include: the Office of Career,
                                                                                                       2
Technical , and Adult Education (OCTAE) ; Office of Postsecondary Education (OPE) ; Institute of
Education Sciences (IES) ; Office of English Language Acquisition (OELA) ; and the Office of
Innovation and Improvement (011) . In addition , the Office for Civil Rights (OCR) works to ensure
equal access to education , promotes educational excellence throughout the nation , and serves
student populations facing discrimination and the advocates and institutions promoting systemic
solutions to civil rights issues.
Basis of Accounting and Presentation
These financial statements have been prepared to report the financial position , net cost of
operations, changes in net position , and budgetary resources of the Department, as required by
the Chief Financial Officers Act of 1990 and the Government Management Reform Act of 1994.
The financial statements were prepared from the books and records of the Department, in
accordance with Generally Accepted Accounting Principles (GAAP) accepted in the U.S. for
federal entities, issued by the Federal Accounting Standards Advisory Board (FASAB) , and the
Office of Management and Budget (OMB) Circular No. A-136, Financial Reporting
Requirements, as revised . These financial statements are different from the financial reports
prepared by the Department pursuant to OMB directives that are used to monitor and control the
use of budgetary resources . FSA also issues audited stand-alone financial statements which
are included in their annual report.
The Department's financial statements should be read as a component of the U.S. Government,
a sovereign entity. One of the many implications of this is that the liabilities cannot be liquidated
without legislation providing resources and legal authority to do so .
The accounting structure of federal agencies is designed to reflect both accrual and budgetary
accounting transactions. Under the accrual method of accounting , revenues are recognized
when earned and expenses are recognized when a liability is incurred , without regard to receipt
or payment of cash . Budgetary accounting facilitates compliance with legal constraints and
controls over the use of federal funds .
Intradepartmental transactions and balances have been eliminated from the consolidated
financial statements.
The Department's financial activities are interlinked and dependent upon the financial activities
of the centralized management functions of the federal government. Due to financial regulation
and management control by OMB and the U.S. Department of Treasury (Treasury) , operations
may not be conducted and financial positions may not be reported as they would if the
Department were a separate, unrelated entity.
Accounting for Federal Credit Programs
The purpose of the Federal Credit Reform Act of 1990 (FCRA) is to record the lifetime subsidy
cost of direct loans and loan guarantees at the time the loan is disbursed. Components of
subsidy costs for loans and guarantees include defaults (net of recoveries) ; contractual
payments to third-party private loan collectors who receive a set percentage of amounts
collected ; and , as an offset, origination and other fees collected. For direct loans, the difference
between interest rates incurred by the Department on its borrowings from Treasury and interest
rates charged to particular borrowers is also subsidized (or may provide an offset to subsidy if
the Department's rate is less).
Under the FCRA, subsidy cost is estimated using the net present value of future cash flows to
and from the Department. In accordance with the FCRA, credit programs either estimate a
subsidy cost to the government (a "positive" subsidy) , breakeven (zero subsidy cost) , or
estimate a negative subsidy cost. Negative subsidy occurs when the estimated cost of providing
loans to borrowers from Treasury borrowing , collection costs and loan forgiveness is less than
the value of collections from borrowers for interest and fees , in present value terms .
The subsidy costs of direct loan and loan guarantee programs are budgeted and tracked by the

                                                                                                         3
fiscal year in which the loan award is made or the funds committed. Such a grouping of loans or
guarantees is referred to as a "cohort". A cohort is a grouping of direct loans obligated or loan
guarantees committed by a program in the same year even if disbursements occur in
subsequent years.
In order to account for the change in the net present value of the loan portfolio over time, the
subsidy cost is "amortized" each year. Amortization of subsidy is interest expense on debt with
Treasury minus interest income from borrowers and interest on uninvested fund balance with
Treasury. It is calculated as the difference between interest revenue and interest expense.
Amortization accounts for the differences in interest rates, accruals, and cash flows over the life
of a cohort, ensuring that cost is reflected in subsidy estimates and re-estimates.
The FCRA establishes the use of financing , program , and general fund receipt accounts for loan
guarantees committed and direct loans obligated after September 30, 1991.
• 	 Financing accounts borrow funds from Treasury, make direct loan disbursements, collect
    fees from lenders and borrowers, pay claims on guaranteed loans, collect principal and
    interest from borrowers, earn interest from Treasury on any uninvested funds , and transfer
    excess subsidy to Treasury's general fund receipt account. Financing accounts are
    presented separately in the combined statement of budgetary resources (SBR) as non­
    budgetary credit reform accounts to allow for a clear distinction from all other budgetary
    accounts. This facilitates reconciliation of the SBR to the Budget of the United States
    Government.

• 	 Program accounts receive and obligate appropriations to cover the positive subsidy cost of a
    direct loan or loan guarantee when the loan is approved and disburses the subsidy cost to
    the financing account when the loan is issued . Program accounts also receive appropriations
    for administrative expenses.

• 	 Treasury General fund receipt accounts receive amounts paid from financing accounts when
    there are negative subsidies for new loan disbursements or downward re-estimates of
    existing loans.
Budgetary Resources
Budgetary resources are amounts available to enter into new obligations and to liquidate them.
The Department's budgetary resources include unobligated balances of resources from prior
years ; recoveries of prior-year obligations; and new resources , which include appropriations,
authority to borrow from Treasury, and spending authority from collections.
Borrowing authority is an indefinite budgetary resource authorized under the FCRA. This
resource, when realized , finances the unsubsidized portion of the Direct Loan , FFEL, and other
loan programs. In addition , borrowing authority is requested to cover the cost of the initial loan
disbursement as well as any related negative subsidy to be transferred to Treasury General
Fund receipt accounts. Treasury prescribes the terms and conditions of borrowing authority and
lends to the financing account amounts as appropriate. Amounts borrowed , but not yet
disbursed, are included in uninvested funds and earn interest. Treasury uses the same
weighted average interest rates for both the interest charged on borrowed funds and the interest
earned on uninvested funds. Treasury sets a different fixed tnterest rate to be used for each loan
cohort once the loans are substantially disbursed. The Department may carry forward borrowing
authority to future fiscal years provided that cohorts are disbursing loans. All borrowings from
Treasury are effective on October 1 of the current fiscal year, regardless of when the
Department borrowed the funds , except for amounts borrowed to make annual interest
payments .
Authority to borrow from Treasury provides most of the funding for disbursements made under
the Direct Loan program , FFEL, and other loan programs. Subsidy and administrative costs of
the programs are funded by appropriations. Borrowings are repaid using collections from
                                                                                                      4
borrowers, fees and interest on uninvested funds .
Unobligated balances represent the cumulative amount of budgetary resources that are not
obligated and that remain available for obligation under law, unless otherwise restricted .
Resources expiring at the end of the fiscal year remain available for five years, but only for
upward adjustments of prior year obligations, after which they are canceled and may not be
used . Resources that have not expired at year-end are available for new obligations , as well as
upward adjustments of prior-year obligations. Funds are appropriated on an annual , multi-year,
or no-year basis. Appropriated funds shall expire on the last day of availability and are no longer
available for new obligations. Amounts in expired funds are unavailable for new obligations, but
may be used to adjust previously established obligations.
Permanent Indefinite Budget Authority. The Direct Loan , FFEL, and other loan programs
have permanent indefinite budget authority through legislation to fund subsequent increases to
the estimated future costs of the loan programs . Parts Band D of the HEA pertain to the
existence, purpose, and availability of permanent indefinite budget authority for these programs.
Reauthorization of Legislation. Funds for most Department programs are authorized , by
statute, to be appropriated for a specified number of years, with an automatic one-year
extension available under Section 422 of the General Education Provisions Act. Congress may
continue to appropriate funds after the expiration of the statutory authorization period , effectively
reauthorizing the program through the appropriations process . The current Budget of the United
States Government presumes all programs continue in accordance with congressional
budgeting rules.
Use of Estimates
Department management is required to make certain estimates while preparing consolidated
financial statements in conformity with GAAP. These estimates are reflected in the assets,
liabilities, net cost, and net position of the financial statements and may differ from actual
results. The Department's estimates are based on management's best knowledge of current
events, historical experiences, and other assumptions that are believed to be reasonable under
the circumstances . Significant estimates reported on the financial statements include: allocation
of Department administrative overhead costs; allowance for subsidy for direct, defaulted
guaranteed and acquired loans; the liability for loan guarantees; the amount payable or
receivable from annual credit program re-estimates and modifications of subsidy cost (general
program administration cost) ; and grant liability and advance accruals.
Entity and Non-Entity Assets
Assets are classified as either entity or non-entity assets . Entity assets are those that the
Department has authority to use for its operations . Non-entity assets are those held by the
Department but are not available for use in its operations. Non-entity assets are offset by
liabilities to third parties and have no impact on net position . The Department combines its entity
and non-entity assets on the balance sheet and discloses its non-entity assets in the notes.
Fund Balance with Treasury
Fund Balance with Treasury includes five types of funds in the Department's accounts with
Treasury available to pay current liabilities and finance authorized purchases, as well as funds
restricted until future appropriations are received : (1) general funds which consist of expenditure
accounts used to record financial transactions funded by congressional appropriations (which
include amounts appropriated to fund subsidy and administrative costs of loan programs) , as
well as receipt accounts ; (2) revolving funds which manage the activity of self-funding programs
whether through fees , sales or other income (which include financing accounts for loan
programs) ; (3) special funds which collect funds from sources that are authorized by law for a
specific purpose- these receipts are available for expenditure for special programs ; (4) trust
funds are used for the acceptance and administration of funds contributed from public and
private sources and programs and are in cooperation with other federal and state agencies or
                                                                                                         5
private donors; and (5) other funds include deposit funds , agency receipt funds , and clearing
accounts. Treasury processes cash receipts and cash disbursements for the Department. The
Department's records are reconciled with Treasury's.
Accounts Receivable
Accounts receivable are amounts due to the Department from the public and other federal
agencies. Receivables from the public result from overpayments to recipients of grants and
other financial assistance programs, as well as disputed costs resulting from audits of
educational assistance programs . Amounts due from federal agencies result from reimbursable
agreements entered into by the Department with other agencies to provide various goods and
services . Accounts receivable are reduced to net realizable value by an allowance for
uncollectible amounts. The estimate of an allowance for loss on uncollectible accounts is based
on the Department's experience in the collection of receivables and an analysis of the
outstanding balances.
Guaranty Agencies' Federal Funds
Guaranty agencies' federal funds , which consist of Cash and Other Monetary Assets, are
primarily comprised of the federal government's interest in the program assets held by state and
non-profit FFEL program guaranty agencies. Section 422A of the HEA required FFEL guaranty
agencies to establish federal student loan reserve funds (federal funds) . Federal funds include
initia l federal start-up funds , receipts of federal reinsurance payments, insurance premiums,
guaranty agency share of collections on defaulted loans, investment income, administrative cost
allowances, and other assets .
The balance in the Federal Fund represents consolidated reserve balances of the 27 guaranty
agencies based on the Guaranty Agency Financial Reports that each agency submits annually
to the Department. Although the Department and the guaranty agencies operate on different
fisca l years, all guaranty agencies are subject to an annual audit based on form of organization .
A year-end valuation adjustment is made to adjust the Department's balances in order to
comply with federal accounting principles and disclose funds held outside of Treasury.
Guaranty agencies' federal funds are classified as non-entity assets with the public and are
offset by a corresponding liability due to Treasury. The federal funds are held by the guaranty
agencies but can only be used for certain specific purposes listed in the Department's
regulations. The federal funds are the property of the U.S. and are reflected in the Budget of the
United States Government. Payments made to the Department from guaranty agencies' federal
funds through a statutory recall or agency closures represent capital transfers and are credited
to the Department's Fund Balance with Treasury account.
Credit Program Receivables, Net and Liabilities for Loan Guarantees
The financia l statements reflect the Department's estimate of the long-term subsidy cost of
direct and guaranteed loans in accordance with the FCRA. Loans and interest receivable are
valued at their gross amounts less an allowance for the present value of amounts not expected
to be recovered and thus having to be subsidized-called an "allowance for subsidy." The
difference between the gross amount and the allowance for subsidy is the present value of the
cash flows to, and from , the Department that are expected from receivables over their projected
lives. Similarly , liabilities for loan guarantees are valued at the present value of the cash
outflows from the Department less the present value of related inflows. The estimated present
value of net long-term cash outflows of the Department for subsidized costs is net of recoveries,
interest supplements , and offsetting fees . The Department also values all pre-1992 loans, loan
guarantees, and direct loans at their net present values. If the liability for loan guarantees is
positive, the amount is reported as a component of credit program receivables , net. The liability
for loan guarantees presents the net present value of all future cash flows from currently
insured FFEL loans, including claim payments, interest assistance, allowance payments, and
recoveries from assigned loans. Guaranteed loans that default are initially turned over to
                                                                                                      6
guaranty agencies for collection. Defaulted FFEL loans are accounted for and reported in the
financial statements under credit reform rules, similar to direct loans, although they are legally
not direct student loans. Negative balances are reported as a component of credit program
receivables , net. Credit program receivables, net includes defaulted FFEL loans owned by the
Department and held by the Department or guaranty agencies. In most cases, after
approximately four years, defaulted guaranteed loans not in repayment are turned over to the
Department for collection .
FFEL program receivables include purchased loans and other interests acquired under an
expired program . The cash flows related to these receivables include collections on purchased
loans and other activities , including transfers of re-estimated subsidy. The cash flows of these
authorities also include inflows and outflows associated with the underlying or purchased loans
and other related activities, including any positive or negative subsidy transfers.
Property and Equipment, Net and Leases
The Department has very limited acquisition costs associated with buildings, furniture and
equipment as all Department and contractor staff are housed in leased buildings. The
Department does not own real property for the use of its staff. The Department leases office
space from the General Services Administration (GSA) . The lease contracts with GSA for
privately and publicly owned buildings are operating leases.
The Department also leases information technology and telecommunications equipment, as part
of a contractor-owned , contractor-operated services contract. Lease payments associated with
this equipment have been determined to be operating leases and , as such , are expensed as
incurred. The non-cancellable lease term is one year, with the Department holding the right to
extend the lease term by exercising additional one-year options.
Liabilities
Liabilities represent actual and estimated amounts to be paid as a result of transactions or
events that have already occurred . However, no liabilities can be paid by the Department
without budget authority. Liabilities for which an appropriation has not been enacted are
classified as liabilities not covered by budgetary resources, and there is no certainty that an
appropriation will be enacted . The government, acting in its sovereign capacity, can abrogate
liabilities that arise from activities other than contracts. FFEL program and Direct Loan program
liabilities are entitlements covered by permanent indefinite budget authority.
Accounts Payable
Accounts payable include amounts owed by the Department for goods and services received
from other entities, as well as payments not yet processed .
Debt
The Department borrows from Treasury to provide funding for the Direct Loan, FFEL, and other
credit programs for higher education . The liability to Treasury from borrowings represents
unpaid principal at year-end . The Department repays the principal based on available fund
balances. Interest on the debt is calculated and paid at fiscal year-end using rates set by
Treasury. These are rates generally fixed based on the rate for 10-year Treasury securities. In
addition , the Federal Financing Bank (FFB) holds bonds issued by a designated bonding
authority, on behalf of the Department, for the HBCU Capital Financing program. The debt for




                                                                                                     7
other credit programs for higher education includes the liability for full payment of principal and
accrued interest for the FFB financed HBCU Capital Financing program .
Net Cost
Net cost consists of gross costs and earned revenue. Gross costs and earned revenue are
classified as intragovernmental (exchange transactions between the Department and other
entities within the federal government) or with the public (exchange transactions between the
Department and non-federal entities) .
Net program costs are gross costs less revenue earned from activities. The Department
determines gross cost and earned revenue by tracing amounts back to the specific program
office . Administrative overhead costs of funds unassigned are allocated based on full-time
employee equivalents of each program.
Cred it Prog ra m Interest Expense and Interest Revenue
The Department accrues interest receivable and records interest revenue on performing Direct
Loans and FFEL loans purchased by the Department. The Department recognizes interest
income when interest is accrued on loans to the public for the Direct Loan , FFEL, and other loan
programs. FFEL financing and liquidating accounts accrue interest as part of allowance for
subsidy. Interest due from borrowers is accrued at least monthly and is satisfied upon collection
or capitalization into the loan principal. Federal interest revenue is recognized on fund balance
with Treasury for the Direct Loan , FFEL, and other loan programs.
Federal interest expense is recognized on the outstanding borrowing from Treasury (debt) used
to finance loans. The interest rate set by OMB for federal interest expense is the same as the
rate used for Federal interest revenue .
Interest expense and interest revenue are equal for all credit programs due to subsidy
amortization . Subsidy amortization is required by the FCRA and accounts for the difference
between interest accruals and interest cash flows . For direct loans, the allowance for subsidy is
adjusted with the offset to interest revenue. For guaranteed loans, the liability for loan
guarantees is adjusted with the offset to interest expense.
Net Position
Net position consists of unexpended appropriations and cumulative results of operations.
Unexpended appropriations include undelivered orders and unobligated balances, except for
amounts in financing accounts, liquidating accounts, and trust funds . Cumulative results of
operations represent the net difference since inception between (1) expenses and (2) revenues
and financing sources.
Personnel Compensation and Other Employee Benefits
Annual, Sick, and Other Leave. The liability for annual leave, compensatory time off, and other
vested leave is accrued when earned and reduced when taken . Each year, the accrued annual
leave account balance is adjusted to reflect current pay rates. Sick leave and other types of
non-vested leave are expensed as taken . Annual leave earned but not taken , within established
limits, is funded from future financing sources.
Retirement Plans and Other Retirement Benefits. Employees participate in either the Civil
Service Retirement System (CSRS) , a defined benefit plan , or the Federal Employees
Retirement System (FERS) , a defined benefit and contribution plan. For CSRS employees , the
Department contributes a fixed percentage of pay.
FERS consists of Social Security, a basic annuity plan , and the Thrift Savings Plan . The
Department and the employee contribute to Social Security and the basic annuity plan at rates



                                                                                                      8
prescribed by law. In addition , the Department is required to contribute to the Thrift Savings
Plan a minimum of 1 percent per year of the basic pay of employees covered by this system ,
match voluntary employee contributions up to 3 percent of the employee's basic pay, and match
one-half of contributions between 3 percent and 5 percent of the employee's basic pay. For
FERS employees, the Department also contributes the employer's share of Medicare.
Contributions for CSRS , FERS , and other retirement benefits are insufficient to fund the
programs fully and are subsidized by the Office of Personnel Management (OPM). The
Department imputes its share of the OPM subsidy, using cost factors provided by OPM , and
reports the full cost of the programs related to its employees.
Federal Employees' Compensation Act. The Federal Employees ' Compensation Act (FECA)
provides income and medical cost protection to covered federal civilian employees injured on
the job, employees who have incurred work-related occupational diseases, and beneficiaries of
employees whose deaths are attributable to job-related injuries or occupational diseases. The
FECA program is administered by the U.S. Department of Labor (DOL) , which pays valid claims
and subsequently seeks reimbursement from the Department for these paid claims .
The FECA liability consists of two components. The first component is based on actual claims
paid and recognized by the Department as a liability. Generally, the Department reimburses
DOL within two to three years once funds are appropriated . The second component is the
estimated liability for future benefit payments based on unforeseen events, such as death,
disability, medical, and miscellaneous costs as determined by DOL annually.




                                                                                                  9
                                               Agency Financial Report to Closing Package Reconciliation Template
                                                   Reclassified Balance Sheet Reconciliation to Agency AFR
                                                                   as of September 30, 2016
                                                   GTAS Submission                                                             Agency's Audited Financial Statements
LineNo   Line Title                                         Line Type   Adjusted Balance (Calculated Amount) *        Line Description (Please Fill out)**           Amount (Please enter)     Difference (Calculated Amount)          Agency Comments
1        Assets                                             TITLE
2        Non-Federal                                        TITLE
2.1      Cash and Other Monetary Assets                                                            1,196,795,610.18 2007 Other Assets (Note 4)                              1,196,795,610.18
                                                                                                                    To be filled out by Agency
                                                                                                                    To be filled out by Agency
                                                                                                                    To be filled out by Agency
                                                                                                                    To be filled out by Agency
                                                                                                                                                             Total          1,196,795,610.18
                                                                                                                      Total Must Tie to Adjusted Balance             OK                                                         0.00

2.2      Accounts and Taxes Receivable, Net                                                          136,183,732.89 1004 Other Intragovernmental Assets (No                   136,183,732.89
                                                                                                                    To be filled out by Agency
                                                                                                                    To be filled out by Agency
                                                                                                                    To be filled out by Agency
                                                                                                                    To be filled out by Agency
                                                                                                                                                       Total                  136,183,732.89
                                                                                                                    Total Must Tie to Adjusted Balance       OK                                                                 0.00

2.3      Loans Receivable, Net                                                                1,076,578,652,261.48 2004D Direct Loan Program                     958,881,317,233.61
                                                                                                                   2004F FFEL Program                            114,869,699,043.49
                                                                                                                   2004O Other Credit Programs for Higher          2,827,635,984.38
                                                                                                                   To be filled out by Agency
                                                                                                                   To be filled out by Agency
                                                                                                                                                      Total    1,076,578,652,261.48
                                                                                                                   Total Must Tie to Adjusted Balance       OK                                                                  0.00

2.4      Inventories and Related Property, Net                                                                   0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                             Total                      0.00
                                                                                                                      Total Must Tie to Adjusted Balance             OK                                                         0.00

2.5      Property, Plant, and Equipment, Net                                                          24,294,098.30 2007 Other Assets (Note 4)                                 24,294,098.30
                                                                                                                    To be filled out by Agency
                                                                                                                    To be filled out by Agency
                                                                                                                    To be filled out by Agency
                                                                                                                    To be filled out by Agency
                                                                                                                                                             Total             24,294,098.30
                                                                                                                      Total Must Tie to Adjusted Balance             OK                                                         0.00

2.6      Debt and Equity Securities                                                                              0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                             Total                      0.00
                                                                                                                      Total Must Tie to Adjusted Balance             OK                                                         0.00

2.7      Investments in GSEs (for use by Treasury only)                                                          0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                             Total                      0.00
                                                                                                                      Total Must Tie to Adjusted Balance             OK                                                         0.00




                                                                                                                                Page 1 of 7
2.8   Other Assets                                                                  5,205,837.07 1004 Other Intragovernmental Assets (No                   5,205,837.07
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                    Total                  5,205,837.07
                                                                                                 Total Must Tie to Adjusted Balance       OK                              0.00


2.9   Total Non-Federal Assets                                       CALC    1,077,941,131,539.92
      This line is calculated. Equals sum of line 2.1 through 2.9.   TITLE
3     Federal                                                        TITLE
3.1   Fund Balance With Treasury (RC 40)/1                                     96,764,161,081.84 1001 Fund Balance with Treasury                      96,764,161,081.84
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total        96,764,161,081.84
                                                                                                    Total Must Tie to Adjusted Balance           OK                       0.00

3.2   Federal Investments (RC 01)/1                                                         0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                    0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                       0.00

3.3   Accounts Receivable (RC 22)/1                                                 2,255,580.71 3005 Other Intragovernmental Liabilities                  2,255,580.71
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                    Total                  2,255,580.71
                                                                                                 Total Must Tie to Adjusted Balance       OK                              0.00

3.4   Accounts Receivable, Capital Transfers (RC 12)/1                                      0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                    0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                       0.00

3.5   Interest Receivable - Investments (RC 02)/1                                           0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                    0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                       0.00

      Interest Receivable - Loans and not otherwise classified
3.6   (RC 04)/1                                                                             0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                    0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                       0.00

3.7   Loans Receivable (RC 17)/1                                                            0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency


                                                                                                              Page 2 of 7
                                                                                                     To be filled out by Agency
                                                                                                                                          Total                   0.00
                                                                                                     Total Must Tie to Adjusted Balance           OK                      0.00

3.8    Transfers Receivable (RC 27)/1                                                        0.00 To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                                                          Total                   0.00
                                                                                                     Total Must Tie to Adjusted Balance           OK                      0.00

3.9    Benefit Program Contributions Receivable (RC 21)/1                                    0.00 To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                                                          Total                   0.00
                                                                                                     Total Must Tie to Adjusted Balance           OK                      0.00

3.10   Advances to Others and Prepayments (RC 23)/1                                102,434,301.11 1004 Other Intragovernmental Assets (No               102,434,301.11
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                                                     Total              102,434,301.11
                                                                                                  Total Must Tie to Adjusted Balance       OK                             0.00

3.11   Other Assets (Without Reciprocals) (RC 29)/1                                          0.00 To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                                                          Total                   0.00
                                                                                                     Total Must Tie to Adjusted Balance           OK                      0.00

3.12   Asset for Agency's Custodial and Non-Entity Liabilities (RC 46)/1                     0.00 To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                                                          Total                   0.00
                                                                                                     Total Must Tie to Adjusted Balance           OK                      0.00

3.13   Other Assets (RC 30)/1                                                                0.00 To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                                                          Total                   0.00
                                                                                                     Total Must Tie to Adjusted Balance           OK                      0.00

3.14   Total Federal Assets                                          CALC       96,868,850,963.66
       This line is calculated. Equals sum of lines 3.1 through 3.13. TITLE
4      Total Assets                                                   CALC    1,174,809,982,503.58
       This line is calculated. Equals sum of lines 2.10 and 3.14.   TITLE
5      Liabilities:                                                  TITLE
6      Non-Federal                                                   TITLE
6.1    Accounts Payable                                                          3,965,788,164.32 4005 Other Liabilities (Note 9)                      3,965,788,164.32
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                  To be filled out by Agency
                                                                                                                                          Total        3,965,788,164.32
                                                                                                     Total Must Tie to Adjusted Balance           OK                      0.00


                                                                                                               Page 3 of 7
6.2   Federal Debt Securities Held by the Public and Accrued Interest       (811,282.29)    3002O Other Credit Programs for Highe                (811,282.29)
                                                                                           To be filled out by Agency
                                                                                           To be filled out by Agency
                                                                                           To be filled out by Agency
                                                                                           To be filled out by Agency
                                                                                                                              Total              (811,282.29)
                                                                                           Total Must Tie to Adjusted Balance       OK                          0.00

6.3   Federal Employee and Veteran Benefits Payable                        1,216,726.75 4005 Other Liabilities (Note 9)                         1,216,726.75
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                                                                Total           1,216,726.75
                                                                                           Total Must Tie to Adjusted Balance           OK                      0.00

6.4   Environmental and Disposal Liabilities                                       0.00 To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                                                                Total                   0.00
                                                                                           Total Must Tie to Adjusted Balance           OK                      0.00

6.5   Benefits Due and Payable                                                     0.00 To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                                                                Total                   0.00
                                                                                           Total Must Tie to Adjusted Balance           OK                      0.00

6.6   Loan Guarantee Liabilities                                        1,633,032,041.90    4005 Other Liabilities (Note 9)                  1,633,032,041.90
                                                                                           To be filled out by Agency
                                                                                           To be filled out by Agency
                                                                                           To be filled out by Agency
                                                                                           To be filled out by Agency
                                                                                                                                Total        1,633,032,041.90
                                                                                           Total Must Tie to Adjusted Balance           OK                      0.00

6.7   Liabilities to GSEs (for use by Treasury only)                               0.00 To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                                                                Total                   0.00
                                                                                           Total Must Tie to Adjusted Balance           OK                      0.00

6.8   Insurance and Guarantee Program Liabilities                                  0.00 To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                        To be filled out by Agency
                                                                                                                                Total                   0.00
                                                                                           Total Must Tie to Adjusted Balance           OK                      0.00

6.9   Other Liabilities                                                 4,083,644,086.32    4005 Other Liabilities (Note 9)                  4,083,644,086.32
                                                                                           To be filled out by Agency
                                                                                           To be filled out by Agency
                                                                                           To be filled out by Agency
                                                                                           To be filled out by Agency
                                                                                                                                Total        4,083,644,086.32
                                                                                           Total Must Tie to Adjusted Balance           OK                      0.00



                                                                                                     Page 4 of 7
6.10   Total Non-Federal Liabilities                               CALC         9,682,869,737.00
       This line is calculated. Equals sum of lines 6.1 through 6.9. TITLE
7      Federal                                                       TITLE
7.1    Accounts Payable (RC 22)/1                                                     843,779.93 3005 Other Intragovernmental Liabilities (              843,779.93
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                    Total                843,779.93
                                                                                                 Total Must Tie to Adjusted Balance         OK                         0.00

7.2    Accounts Payable, Capital Transfers (RC 12)/1                                        0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                  0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                    0.00

7.3    Federal Debt (RC 01)/1                                                               0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                  0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                    0.00

7.4    Interest Payable - Debt (RC 02)/1                                                    0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                  0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                    0.00

7.5    Interest Payable - Loans and Not Otherwise Classified (RC 04)/1             12,628,915.98     3002O Other Credit Programs for Highe             12,628,915.98
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                                                       Total           12,628,915.98
                                                                                                    Total Must Tie to Adjusted Balance       OK                        0.00

7.6    Loans Payable (RC 17)/1                                               1,127,811,750,147.40    3002O Other Credit Programs for Highe      1,127,811,750,147.40
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                                                       Total    1,127,811,750,147.40
                                                                                                    Total Must Tie to Adjusted Balance       OK                        0.00

7.7    Transfers Payable (RC 27)/1                                                          0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                  0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                    0.00

7.8    Benefit Program Contributions Payable (RC 21)/1                            132,275,368.27     3005 Other Intragovernmental Liabilities         132,275,368.27
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                                                     Total            132,275,368.27


                                                                                                              Page 5 of 7
                                                                                                    Total Must Tie to Adjusted Balance           OK                       0.00

7.9    Advances from Others and Deferred Credits (RC 23)/1                         11,141,254.76     3005 Other Intragovernmental Liabilities            11,141,254.76
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                                                       Total             11,141,254.76
                                                                                                    Total Must Tie to Adjusted Balance       OK                           0.00

       Liability to the General Fund for Custodial and Other Non-
7.10   Entity Assets (RC 46)/1                                                  4,318,379,881.74     3005 Other Intragovernmental Liabilities          4,318,379,881.74
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                    To be filled out by Agency
                                                                                                                                       Total           4,318,379,881.74
                                                                                                    Total Must Tie to Adjusted Balance       OK                           0.00

7.11   Other Liabilities (Without Reciprocals) (RC 29)/1                                    0.00 To be filled out by Agency                                       0.00
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                    0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                       0.00

7.12   Liability for Fund Balance with Treasury (RC 40)/1                                   0.00 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                    0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                       0.00

7.13   Other Liabilities (RC 30)/1                                                          0.00 To be filled out by Agency                                       0.00
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                         Total                    0.00
                                                                                                    Total Must Tie to Adjusted Balance           OK                       0.00

7.14   Total Federal Liabilities                                     CALC    1,132,287,019,348.08
       This line is calculated. Equals sum of lines 7.1 through
       7.13.                                                         TITLE
8      Total Liabilities                                             CALC    1,141,969,889,085.08

       This line is calculated. Equals sum of lines 6.10 and 7.14.   TITLE
9      Net Position:                                                 TITLE
9.1    Net Position - Funds From Dedicated Collections                              1,133,376.44 6002 Cumulative Results of Operations                     1,133,376.44
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                    Total                  1,133,376.44
                                                                                                 Total Must Tie to Adjusted Balance       OK                              0.00

       Net Position - Funds Other Than Those From Dedicated
9.2    Collections                                                             32,838,960,042.06 6002 Cumulative Results of Operations                32,838,960,042.06
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                 To be filled out by Agency
                                                                                                                                   Total              32,838,960,042.06


                                                                                                              Page 6 of 7
                                                                                                                              Total Must Tie to Adjusted Balance   OK                         0.00

10   Total Net Position                                          CALC                                   32,840,093,418.50
     This line is calculated. Equals sum of lines 9.1 and 9.2.   TITLE
11   Total Liabilities and Net Position                          CALC                                1,174,809,982,503.58
     This line is calculated. Equals sum of lines 8 and 10.      TITLE



*    Adjusted Balance consists of Certified GTAS ATB data plus any applicable Agency entered manual adjustments.
     The Numbers that should be entered for the Adjusted Balance can be found by running the Reconciliation Report out of GTAS.

**   Line Description - Please enter the exact Line Description from your Audited Financial Report.

     If there is a need to reclass a line from GTAS to more than 5 lines in the AFR please contact the GTAS Team to have a custom report sent to your Agency. GTAS.Team@fiscal.treasury.gov

     CALC Lines are set as formulas and will not need to be entered, please use these to double check the data entry.




                                                                                                                                        Page 7 of 7
                                                 Agency Financial Report to Closing Package Reconciliation Template
                                                  Reclassified Statement of Net Cost Reconciliation to Agency AFR
                                                                     as of September 30, 2016
                                                     GTAS Submission                                                              Agency's Audited Financial Statements
LineNo    Line Title                                           Line Type   Adjusted Balance (Calculated Amount) *        Line Description (Please Fill out)**           Amount (Please enter)     Difference (Calculated Amount)      Agency Comments
1         Gross Costs                                          TITLE
2         Non-Federal Gross Cost                                                                   101,948,871,370.27 101 Gross Costs                                        101,948,871,370.27
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                                Total        101,948,871,370.27
                                                                                                                         Total Must Tie to Adjusted Balance             OK                                                     0.00

3         Interest on Debt Held by the Public                                                                       0.00 To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                                                                Total                      0.00
                                                                                                                         Total Must Tie to Adjusted Balance             OK                                                     0.00

4         Gains/Losses from Changes in Actuarial Assumptions                                                        0.00 To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                                                                Total                      0.00
                                                                                                                         Total Must Tie to Adjusted Balance             OK                                                     0.00

5         General PP&E Partial Impairment Loss                                                                      0.00 To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                         To be filled out by Agency
                                                                                                                                                                Total                      0.00
                                                                                                                         Total Must Tie to Adjusted Balance             OK                                                     0.00

         6 Total Non-Federal Gross Cost                        Calc                                101,948,871,370.27

7         Federal Gross Cost                                   Title
7.1       Benefit Program Cost                                                                          341,159,410.54 101 Gross Costs                                           341,159,410.54
                                                                                                                       To be filled out by Agency
                                                                                                                       To be filled out by Agency
                                                                                                                       To be filled out by Agency
                                                                                                                       To be filled out by Agency
                                                                                                                                                                Total            341,159,410.54
                                                                                                                         Total Must Tie to Adjusted Balance             OK                                                     0.00

7.2       Imputed Costs (RC25)/2                                                                          9,018,393.62 To be filled out by Agency                                  9,018,393.62
                                                                                                                       To be filled out by Agency
                                                                                                                       To be filled out by Agency
                                                                                                                       To be filled out by Agency
                                                                                                                       To be filled out by Agency
                                                                                                                                                                Total              9,018,393.62
                                                                                                                         Total Must Tie to Adjusted Balance             OK                                                     0.00

7.3       Buy/Sell Cost (RC24)/2                                                                        871,274,092.14 101 Gross Costs                                           871,274,092.14
                                                                                                                       To be filled out by Agency
                                                                                                                       To be filled out by Agency
                                                                                                                       To be filled out by Agency
                                                                                                                       To be filled out by Agency
                                                                                                                                                                Total            871,274,092.14
                                                                                                                         Total Must Tie to Adjusted Balance             OK                                                     0.00



                                                                                                                                  Page 1 of 3
7.4    Purchase of assets (RC 24) /2                                          0.00 To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                                                          Total                     0.00
                                                                                     Total Must Tie to Adjusted Balance           OK                       0.00

7.5    Purchase of assets offset (RC 24) /2                                   0.00 To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                                                          Total                     0.00
                                                                                     Total Must Tie to Adjusted Balance           OK                       0.00

7.6    Federal securities interest expense (RC 03) /2                         0.00 To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                                                          Total                     0.00
                                                                                     Total Must Tie to Adjusted Balance           OK                       0.00

7.7    Borrowing and other interest expense (RC05) /2            35,550,554,496.35 101 Gross Costs                                     35,550,554,496.35
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                                                          Total        35,550,554,496.35
                                                                                     Total Must Tie to Adjusted Balance           OK                       0.00

7.8    Borrowing losses (RC 06) /2                                      956,365.72 101 Gross Costs                                           956,365.72
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                                                          Total              956,365.72
                                                                                     Total Must Tie to Adjusted Balance           OK                       0.00

7.9    Other expenses (without reciprocals) (RC 29)                           0.00 To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                                                          Total                     0.00
                                                                                     Total Must Tie to Adjusted Balance           OK                       0.00


8      Total Federal Gross Cost                         Calc     36,772,962,758.37
9      Department Total Gross Cost                      Calc    138,721,834,128.64
10     Earned Revenue                                   Title
11     Non-federal earned revenue                                29,919,025,770.05 102 Less: Earned Revenue                            29,919,025,770.05
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                                                          Total        29,919,025,770.05
                                                                                     Total Must Tie to Adjusted Balance           OK                       0.00

12     Federal Earned Revenue                           Title
12.1   Benefit Program Revenue (exchange) (RC26) /2                           0.00 To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency
                                                                                   To be filled out by Agency


                                                                                             Page 2 of 3
                                                                                                                                                                         Total                   0.00
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                      0.00

12.2   Buy/Sell Revenue (exchange) (RC24) /2                                                                         9,425,399.18 102 Less: Earned Revenue                               9,425,399.18
                                                                                                                                  To be filled out by Agency
                                                                                                                                  To be filled out by Agency
                                                                                                                                  To be filled out by Agency
                                                                                                                                  To be filled out by Agency
                                                                                                                                                                         Total           9,425,399.18
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                      0.00

       Federal Securities Interest Revenue Including Associated
12.3   Gains and Losses (Exchange) (RC03) /2                                                                                  0.00 To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                         Total                   0.00
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                      0.00

12.4   Borrowing and Other Interest Revenue (exchange) (RC05) /2                                                4,471,711,137.09 102 Less: Earned Revenue                             4,471,711,137.09
                                                                                                                                 To be filled out by Agency
                                                                                                                                 To be filled out by Agency
                                                                                                                                 To be filled out by Agency
                                                                                                                                 To be filled out by Agency
                                                                                                                                                                         Total        4,471,711,137.09
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                      0.00

12.5   Borrowing Gains (RC06)/2                                                                                               0.00 To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                         Total                   0.00
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                      0.00

12.6   Other Revenue (without reciprocal) (RC29)/2                                                                            0.00 To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                         Total                   0.00
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                      0.00

13     Total Federal Earned Revenue                                  Calc                                      4,481,136,536.27
14     Department Total Earned Revenue                               Calc                                     34,400,162,306.32
15     Net Cost of Operations                                        Calc                                    104,321,671,822.32




*      Adjusted Balance consists of Certified GTAS ATB data plus any applicable Agency entered manual adjustments.
       The Numbers that should be entered for the Adjusted Balance can be found by running the Reconciliation Report out of GTAS.

**     Line Description - Please enter the exact Line Description from your Audited Financial Report.

       If there is a need to reclass a line from GTAS to more than 5 lines in the AFR please contact the GTAS Team to have a custom report sent to your Agency. GTAS.Team@fiscal.treasury.gov

       CALC Lines are set as formulas and will not need to be entered, please use these to double check the data entry.




                                                                                                                                            Page 3 of 3
                                                                  Agency Financial Report to Closing Package Reconciliation Template
                                                             Reclassified Statement of Changes in Net Position Reconciliation to Agency AFR
                                                                                        as of September 30, 2016
                                                                          GTAS Submission                                                                       Agency's Audited Financial Statements
LineNo   Line Title                                                                           Line Type   Adjusted Balance (Calculated Amount) *        Line Description (Please Fill out)**           Amount (Please enter)     Difference (Calculated Amount)
1        Beginning Net Position Balance                                                                                            54,804,835,385.11 1. Beginning Balances                                   54,804,835,385.11
                                                                                                                                                     To be filled out by Agency
                                                                                                                                                     To be filled out by Agency
                                                                                                                                                     To be filled out by Agency
                                                                                                                                                     To be filled out by Agency
                                                                                                                                                                                               Total         54,804,835,385.11
                                                                                                                                                        Total Must Tie to Adjusted Balance             OK                                                     0.00
2        Non-Federal Prior Period Adjustments                                                 TITLE
2.1      Changes in Accounting Principles                                                                                                          0.00 To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                                                               Total                      0.00
                                                                                                                                                        Total Must Tie to Adjusted Balance             OK                                                     0.00

2.2      Corrections of Errors                                                                                                                     0.00 To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                                                               Total                      0.00
                                                                                                                                                        Total Must Tie to Adjusted Balance             OK                                                     0.00

2.3      Corrections of Errors - Years Preceding the Prior Year                                                                                    0.00 To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                                                               Total                      0.00
                                                                                                                                                        Total Must Tie to Adjusted Balance             OK                                                     0.00

3        Federal Prior Period Adjustments                                                     TITLE
3.1      Changes in Accounting Principles (RC 29) /1                                                                                               0.00 To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                                                               Total                      0.00
                                                                                                                                                        Total Must Tie to Adjusted Balance             OK                                                     0.00

3.2      Corrections of Errors (RC 29)                                                                                                             0.00 To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                                                               Total                      0.00
                                                                                                                                                        Total Must Tie to Adjusted Balance             OK                                                     0.00

3.3      Corrections of Errors - Years Preceding the Prior Year (RC 29)                                                                            0.00 To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                        To be filled out by Agency
                                                                                                                                                                                               Total                      0.00
                                                                                                                                                        Total Must Tie to Adjusted Balance             OK                                                     0.00



                                                                                                                 Page 1 of 7
4     Adjusted Beginning Net Position Balance                                 CALC                  54,804,835,385.11
      This line is calculated.                                                TITLE
5     Non-Federal Nonexchange Revenue:                                        TITLE
5.1   Individual Income Tax and Tax Withholdings (for use by Treasury only)                                      0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                             Total               0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK                  0.00

5.2   Corporation Income Taxes (for use by Treasury only)                                                        0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                             Total               0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK                  0.00

5.3   Excise Taxes                                                                                               0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                             Total               0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK                  0.00

5.4   Unemployment Taxes                                                                                         0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                             Total               0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK                  0.00

5.5   Customs Duties                                                                                             0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                             Total               0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK                  0.00

5.6   Estate and Gift Taxes                                                                                      0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                             Total               0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK                  0.00

5.7   Other Taxes and Receipts                                                                           9,754,954.93 8. Nonexchange Revenue                              8,828,731.21
                                                                                                                      9. Donations and Forfeitures of Cash and              926,223.72
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                                                         Total            9,754,954.93
                                                                                                                      Total Must Tie to Adjusted Balance       OK                        0.00

5.8   Miscellaneous Earned Revenues/2                                                                            0.00 To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency
                                                                                                                      To be filled out by Agency


                                                                                      Page 2 of 7
                                                                                                                                                     To be filled out by Agency
                                                                                                                                                                                          Total                     0.00
                                                                                                                                                     Total Must Tie to Adjusted Balance           OK                        0.00

5.9   Total Non-Federal Nonexchange Revenue                                                                CALC                       9,754,954.93
6     Federal Nonexchange Revenue:                                                                         TITLE
6.1   Federal Securities Interest Revenue Including Associated Gains and Losses (Nonexchange) (RC 03) /1                                      0.00 To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                                                          Total                     0.00
                                                                                                                                                     Total Must Tie to Adjusted Balance           OK                        0.00

6.2   Borrowings and Other Interest Revenue (Nonexchange) (RC 05) /1                                                                          0.00 To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                                                          Total                     0.00
                                                                                                                                                     Total Must Tie to Adjusted Balance           OK                        0.00

6.3   Benefit Program Revenue (Nonexchange) (RC 26) /1                                                                                        0.00 To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                                                          Total                     0.00
                                                                                                                                                     Total Must Tie to Adjusted Balance           OK                        0.00

6.4   Other Taxes and Receipts (RC 45) /1                                                                                                     0.00 To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                                                          Total                     0.00
                                                                                                                                                     Total Must Tie to Adjusted Balance           OK                        0.00

6.5   Total Federal Nonexchange Revenue                                                                    CALC                               0.00
7     Budgetary Financing Sources:                                                                         TITLE
7.1   Appropriations Received As Adjusted (Rescissions and Other Adjustments) (RC 41) /1                                         87,389,842,732.76 4. Appropriations Received                          88,210,818,530.28
                                                                                                                                                   6. Other Adjustments (rescissions, etc)               (820,975,797.52)
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                                                      Total            87,389,842,732.76
                                                                                                                                                   Total Must Tie to Adjusted Balance       OK                              0.00

7.2   Appropriations Used (RC 39)                                                                                                89,076,690,064.74 7. Appropriations Used                              89,076,690,064.74
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                                                          Total        89,076,690,064.74
                                                                                                                                                     Total Must Tie to Adjusted Balance           OK                        0.00

7.3   Appropriations expended (RC 38) /1                                                                                         89,076,690,064.74 7. Appropriations Used                              89,076,690,064.74
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                   To be filled out by Agency
                                                                                                                                                                                          Total        89,076,690,064.74
                                                                                                                                                     Total Must Tie to Adjusted Balance           OK                        0.00


                                                                                                                   Page 3 of 7
7.4    Appropriation of unavailable special or trust fund receipts transfers-in (RC 07) /1                         0.00 To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                                                             Total        0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK          0.00

7.5    Appropriation of unavailable special or trust fund receipts transfers-out (RC 07) /1                        0.00 To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                                                             Total        0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK          0.00

7.6    Non-expenditure Transfers-Out of Unexpended Appropriations and Financing Sources (RC 08) /1                 0.00 To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                                                             Total        0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK          0.00

7.7    Non-expenditure transfers-out of unexpended appropriations and financing sources (RC 08) /1                 0.00 To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                                                             Total        0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK          0.00

7.8    Expenditure Transfers-In of Financing Sources (RC 09) /1                                                    0.00 To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                                                             Total        0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK          0.00

7.9    Expenditure Transfer-Out of Financing Sources - Capital Transfers (RC 09)                                   0.00 To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                                                             Total        0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK          0.00


7.10   Non-expenditure Transfer-In of Financing Sources - Capital Transfers (RC 11)                                0.00 To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                                                             Total        0.00
                                                                                                                        Total Must Tie to Adjusted Balance           OK          0.00

7.11   Non-expenditure transfers-out of financing sources - capital transfers (RC 11)                              0.00 To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency
                                                                                                                        To be filled out by Agency


                                                                                                     Page 4 of 7
                                                                                                                                                       Total                 0.00
                                                                                                                  Total Must Tie to Adjusted Balance           OK                    0.00

7.12   Collections for others transferred to the General Fund (RC 44)                                     0.00 To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                                                                       Total                 0.00
                                                                                                                  Total Must Tie to Adjusted Balance           OK                    0.00

7.13   Other Budgetary Financing Sources (RC 29) /1, 8                                          843,944,728.72 15. Negative Subsidy Transfers, Capital T            843,944,728.72
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                                                                  Total             843,944,728.72
                                                                                                               Total Must Tie to Adjusted Balance       OK                           0.00

7.14   Warrants Issued (RC41)                                                                             0.00 To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                                                                       Total                 0.00
                                                                                                                  Total Must Tie to Adjusted Balance           OK                    0.00

7.15   Appropriations Outstanding - used (RC 39)                                                          0.00 To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                                                                       Total                 0.00
                                                                                                                  Total Must Tie to Adjusted Balance           OK                    0.00

7.16   General Fund Financed Appropriations - expended (RC 38) /1                                         0.00 To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                                                                       Total                 0.00
                                                                                                                  Total Must Tie to Adjusted Balance           OK                    0.00

7.17   Trust fund warrants issued net of adjustments (RC 45)                                              0.00 To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                                                                       Total                 0.00
                                                                                                                  Total Must Tie to Adjusted Balance           OK                    0.00

7.18   Total budgetary financing sources                                CALC                  88,233,787,461.48




8      Other Financing Sources:                                         TITLE
8.1    Transfers-In Without Reimbursement (RC 18) /1                                                      0.00 To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                               To be filled out by Agency
                                                                                                                                                       Total                 0.00
                                                                                                                  Total Must Tie to Adjusted Balance           OK                    0.00


                                                                                Page 5 of 7
8.2   Transfers-Out Without Reimbursement (RC 18) /1                                                                          0.00 To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                         Total                     0.00
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                        0.00

8.3   Imputed Financing Sources (RC 25) /1                                                                            9,018,394.06 Imputed Financing from Costs Absorbed                   9,018,394.06
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                      Total                9,018,394.06
                                                                                                                                   Total Must Tie to Adjusted Balance       OK                             0.00

8.4   Non-Entity Collections Transferred to the General Fund (RC 44)                                             11,153,921,658.37 15. Negative Subsidy Transfers, Capital T          11,153,921,658.37
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                      Total           11,153,921,658.37
                                                                                                                                   Total Must Tie to Adjusted Balance       OK                             0.00

8.5   Accrual for Non-Entity Amounts To Be Collected and Transferred to the General Fund (RC 48)                 (5,234,365,572.61) 15. Negative Subsidy Transfers, Capital T         (5,234,365,572.61)
                                                                                                                                    To be filled out by Agency
                                                                                                                                    To be filled out by Agency
                                                                                                                                    To be filled out by Agency
                                                                                                                                    To be filled out by Agency
                                                                                                                                                                       Total          (5,234,365,572.61)
                                                                                                                                    Total Must Tie to Adjusted Balance       OK                            0.00

8.6   Other Non-Budgetary Financing Sources for debt accruals/amortization (RC 37) /1                                         0.00 To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                         Total                     0.00
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                        0.00

8.7   Other non-budgetary financing sources (RC 29) /1,9                                                             23,925,131.00 17. Net Cost of Operations                            23,925,131.00
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                         Total           23,925,131.00
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                        0.00

8.8   Other financing sources for the General Fund (RC 37) /1                                                                 0.00 To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                         Total                     0.00
                                                                                                                                    Total Must Tie to Adjusted Balance           OK                        0.00

8.9   Transfer-in of agency's unavailable custodial and non-entity collections (RC 44)                                        0.00 To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                   To be filled out by Agency
                                                                                                                                                                         Total                     0.00


                                                                                                   Page 6 of 7
                                                                                                                                                                      Total Must Tie to Adjusted Balance           OK                        0.00

8.10   Accrual of agency's amounts to be collected (RC 48)                                                                                                      0.00 To be filled out by Agency
                                                                                                                                                                     To be filled out by Agency
                                                                                                                                                                     To be filled out by Agency
                                                                                                                                                                     To be filled out by Agency
                                                                                                                                                                     To be filled out by Agency
                                                                                                                                                                                                           Total                0.00
                                                                                                                                                                      Total Must Tie to Adjusted Balance           OK                        0.00


8.11   Total Other Financing Sources                                                                              CALC                             (5,886,612,560.70)
9      Net Cost of Operations (+/-)                                                                                                               104,321,671,822.32 Enter in the amount from Statement of Net Cost, Net Cost of Operation
10     Ending Net Position Balance                                                                                CALC                            241,483,437,063.14




*      Adjusted Balance consists of Certified GTAS ATB data plus any applicable Agency entered manual adjustments.
       The Numbers that should be entered for the Adjusted Balance can be found by running the Reconciliation Report out of GTAS.

**     Line Description - Please enter the exact Line Description from your Audited Financial Report.

       If there is a need to reclass a line from GTAS to more than 5 lines in the AFR please contact the GTAS Team to have a custom report sent to your Agency. GTAS.Team@fiscal.treasury.gov

       CALC Lines are set as formulas and will not need to be entered, please use these to double check the data entry.




                                                                                                                                    Page 7 of 7