Friday, October 20, 2017

Federal Deficit, Outlays, and Receipts Actuals for FY17

On October 20, 2017, the US Treasury reported in its Monthly Treasury Statement (and xls) for September that the federal deficit for FY 2017 ending September 30, 2017, was $666 billion. Here are the numbers, including total receipts, total outlays, and deficit compared with the numbers projected in the FY 2018 federal budget published in May 2017:

Federal Finances
FY 2017 Outcomes
Receipts $3,460$3,315
Deficit$603$666 now shows the new numbers for total FY 2017 total outlays and receipts on its Estimate vs. Actual page.

The Monthly Treasury Statement includes "Table 4: Receipts of the United States Government, September 2017 and Other Periods." This table of receipts by source is used for to post federal receipt actuals for FY 2017.

This FTS report on FY 17 actuals is a problem for because this site uses Historical Table 3.2--Outlays by Function and Subfunction from the Budget of the United States as its basic source for federal subfunction outlays. But the Monthly Treasury Statement only includes "Table 9. Summary of Receipts by Source, and Outlays by Function of the U.S. Government, September 2017 and Other Periods". Subfunction amounts don't get reported until the FY19 budget in February 2018. Until then estimates actual outlays by "subfunction" for FY 2017 by factoring subfunction budgeted amounts for FY17 by the ratio between relevant actual and budgeted "function" amounts where actual outlays by subfunction cannot be gleaned from the Monthly Treasury Statement.

Final detailed FY 2017 actuals will not appear on until the FY 2019 federal budget is published in February 2018 with the actual outlays for FY 2017 in Historical Table 3.2--Outlays by Function and Subfunction.

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