Question 39

Does the Executive’s Budget Proposal or any supporting budget documentation present information on financial assets held by the government for at least the budget year? (The core information must include a listing of the assets, and an estimate of their value.)
 * a. Yes, information beyond the core elements is presented for all financial assets.
 * b. Yes, the core information is presented for all financial assets.
 * c. Yes, information is presented, but it excludes some core elements or some financial assets.
 * d. No, information related to financial assets is not presented.
 * e. Not applicable/other (please comment).

Guidelines
Question 39 focuses on financial assets held by the government, asking whether “core” information related to these assets is presented. These core components include:
 * A listing of the financial assets; and
 * An estimate of their value.

Governments own financial assets such as cash, bonds, or equities. Unlike private sector businesses, however, few governments maintain balance sheets that show the value of their assets and liabilities.

Beyond the core information, some governments may also provide other information about financial assets, including for example: a discussion of their purpose; historical information on defaults; differences between reported values and market values; and a summary of financial assets as part of the government’s balance sheet.

To answer “a,” the Executive’s Budget Proposal or supporting documentation must present for at least the budget year all of the core information related to all financial assets held by the government as well as some additional information beyond the core elements. To answer “b,” the Executive’s Budget Proposal or supporting documentation must present all of the core components noted above. Answer “b” is also accepted if one of the core elements is not presented but additional information beyond the core elements is presented. A “c” answer applies if some information related to financial assets is presented, but some of the core pieces of information are not included. Answer “c” also applies if information is presented only on the acquisition of financial assets for the budget year. Answer “d” applies if no information is presented on financial assets held by the government.

1) We are looking for stocks and not flows
We do not award a “c” for the sale or acquisition of financial assets. Information on the flow rather than stock should be assessed with a “d” response.