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2009 Annual Report United States Postal Service | 79
is higher or lower than our estimate, we will request addi-
tional funding or return the excess funding via a reduction
to our next revenue-forgone funding request.
During 2009, we recognized $71 million, including $24 mil-
lion of imputed interest in revenue from the appropriations,
compared to $128 million, including $25 million of imputed
interest during 2008. In 2007, we recognized $88 million,
including $25 million of imputed interest. We record re-
quested amounts as government receivables until the ap-
propriations are received.
The Revenue Forgone Reform Act of 1993 authorized
Congress to make 42 annual payments of $29 million
each, beginning in 1994 and continuing through 2035.
These payments are reimbursement for services we per-
formed in 1991, 1992 and 1993, for which we have not
yet been fully paid, and for shortfalls in the reimbursement
of the costs we incurred for processing and delivering cer-
tain nonprofi t mail entitled to statutorily reduced costs from
1994 through 1998.
The payments authorized by the Revenue Forgone Reform
Act of 1993 totaled $1,218 million, for which we calculat-
ed the present value, at 7% interest, to be approximately
$390 million. We recognized the $390 million as revenue
during fi scal years 1991 through 1998. The discounted
present value of the remaining future payments as of the
years ended September 30 was $344 million in 2009 and
$349 million in 2008.
The total receivable for revenue forgone as of the years
ended September 30 was $448 million in 2009 and $495
million in 2008.