NOTE.-Unobligated balances are as follows: June 30, 1954, $25,705,200; 1955, $23,421,110; 1956, $24,623,490; and 1957, $24,835,720. Obligated balances are as follows: June 30, 1954, -$12,668,081; 1955, -$11,398,104; 1956, -$12,967,891; and 1957, -$13,734,350. Cash balance with Treasury on June 30, 1954, was $13,037,119 Mr. BLATTENBERGER. Replacement of presses which had served their time, and in some cases some of our presses were very old and we have been replacing them with offset presses, which I mentioned in my report. That would be just replacement of equipment which had served its lifetime. Mr. NORRELL. Then on page 114, statement B, where do the receipts and expenses of publication sales show up and where do the profits of that business show up? Do they show up separately from the regular operations? Mr. CRISTOFANE. Let me check that. Mr. ROONEY. The question is where does the $76 million go? Mr. CRISTOFANE. Right above that, under "Income," value of services performed, that $76 million is made up of 4 items in 1957. That would be the estimate. Printing and binding operations would be $33 million; field service operations, $4 million; commercial operations are $20 million; and material operations, $19 million. This represents materials used in connection with the printing and binding operations. We furnish the paper quite often for the printing done in the field. Mr. ROONEY. You have told us exactly what is at the top of page 114, but the question is what happens with regard to the total of the income from these four items, to wit, $76 million. Mr. CRISTOFANE. That money is put in the revolving fund and spent over again. We have a working capital fund; we operate the same way as a commercial concern operates. We put the money back into a revolving fund and use it over again. Mr. ROONEY. All of it? Mr. CRISTOFANE. Yes, sir. Mr. ROONEY. Every nickel of it? Mr. EASTIN. We turned into the Treasury $11 million. This amount has been turned in in the past 3 years from money not required for expenses. Last year the Public Printer turned in $3 million which was income which was not required to cover our expenses of the paper, replacement of machinery, salaries of personnel, and so forth. STATEMENT OF FINANCIAL CONDITION Mr. ROONEY. Have you a statement with regard to this, starting with fiscal 1955 ? Mr. BLATTENBERGER. I know we are supposed to operate at cost, and while $3 million sounds like a lot of money, I have to make a little money or lose a little money. There is no way of coming out even. Mr. ROONEY. That is just what I am getting at. Do you have a schedule with regard to these figures in fiscal 1955? Mr. BLATTENBERGER. We can furnish you those figures-furnish you the figures of the last financial statement. Mr. EASTIN. This is a balance sheet as of April 30 but it is not exactly what you were interested in. of Mr. ROONEY. Do you have one for fiscal 1955? Mr. EASTIN. Not with us. That statement is up to date as of April Mr. ROONEY. That covers only this unfinished fiscal year? Mr. ROONEY. I want to see a statement with regard to a completed fiscal year. Mr. BLATTENBERGER. We can furnish you with that, sir. We don't have such a statement with us, unless Mr. Cristofane has. Mr. CRISTOFANE. Balance sheet statement for the fiscal year ending 1955 ? Mr. ROONEY. That would be ending June 30, 1955, and also estimated statement for 1956, and what your estimate will be in 1957. Mr. CRISTOFANE. We can supply that information for you and insert it in the record. (The information requested is as follows:) Total liabilities and investment of U. S. Government. 53, 600, 232. 68 Nondepreciable capital-Value of lands and structures.. 1,000,000.00 9,085, 172.60 29, 477, 428. 35 1,000,000.00 9,085, 172.60 31, 184, 188. 96 41, 269, 361. 56 1,000,000.00 9,085, 172.60 31, 184, 188.96 41, 269, 361. 56 4, 606, 531. 04 45,875, 892. 60 53, 682, 972.60 1 Subject to adjustment made during fiscal year 1956-Earnings as of April 30, 1956, $3,156,672.75. 39, 562, 600. 95 45, 160, 686. 60 53, 211, 872. 60 Mr. NORRELL. Also in statement B you show retained earnings. Could you say a word or two as to the amount so retained, the need therefor, and so on? Mr. BLATTENBERGER. Over the last 2 years we returned to the Treasury practically all that was left over. Mr. EASTIN. This statement combines the operation of the Office of the Superintendent of Documents with the Government Printing Office proper and makes an analysis of it somewhat difficult, because the Public Printer not only turns into the Treasury excess receipts that he takes in but the Superintendent of Documents regularly turns in over $2 million from his accounts, so this combined statement makes it somewhat difficult to analyze. The Superintendent of Documents returns to the Treasury all of his receipts from sales during the year which are not required to purchase more publications for sale to the public and for the payment of postage. The Public Printer turns in approximately everything that he takes in. Mr. NORRELL. Let me ask you to secure a copy of the statements concerning the matters I have requested, and prepare your statement for the record. Mr. BLATTENBERGER. All right, sir. (The information requested is as follows:) |