112 Government Finance Statistics Manual 2014
nonprofi t institutions serving households can receive
subsidies when the transfer receivable depends on the
general regulations of the subsidy scheme, applicable
to all producers—that is, market and nonmarket pro-
ducers. Subsidies are explained in greater detail in
paragraphs 6.84–6.91.
5.147 Other current transfers not elsewhere classi-
fi ed (14412) are gift s and transfers of a current nature
(other than grants or subsidies) from individuals, pri-
vate nonprofi t institutions, nongovernmental foun-
dations, or corporations. Th ese transfers could be in
cash or in kind—for example, contributions to gov-
ernment of food, blankets, and medical supplies for
relief purposes.
5.148 Capital transfers not elsewhere classifi ed
(1442) are gift s and transfers of a capital nature (other
than grants) from individuals, private nonprofi t institu-
tions, nongovernmental foundations, or corporations.
Examples of transfers included in this category are:- Major nonrecurrent payments receivable in
compensation for extensive damages or serious
injuries not covered by insurance policies. Th e
payments may be awarded by courts of law or
settled out of court. Th ey include payments of
compensation for damages caused by major ex-
plosions, oil spillages, etc. - International aid of a capital nature receivable
aft er natural disasters from nonresidents other
than international organizations and foreign
governments^42
(^42) International aid receivable from resident and nonresident gen-
eral government units and international organizations is classifi ed
as grants (see paragraph 5.101).
- Payments receivable for damage to property
other than payments from an insurance settle-
ment (insurance settlements are included in
claims receivable (14513 or 1452)) - Transfers receivable by public corporations from
government units, to cover large operating defi -
cits accumulated over two or more years^43 - Legacies or large gift s receivable by government
or public sector units, including gift s of land,
buildings, or research and development assets
such as patents and copyrights - Exceptionally large donations receivable from
households or enterprises to public sector units
to fi nance gross fi xed capital formation: for ex-
ample, transfers for the construction or purchase
of hospitals, schools, museums, theaters, and cul-
tural centers, or gift s to universities to cover the
costs of building new residential colleges, librar-
ies, laboratories, etc. - Capital transfers from corporations, quasi-
corporations, nonprofi t institutions serving
households, households, and nonresidents other
than governments and international organizations
(see paragraph 5.103) for the cancelation or as-
sumption of a debt by mutual agreement with the
government without the government incurring an
eff ective liability toward them^44 - Amounts receivable in excess of the expected
value of liabilities assumed for the provision of
pension entitlements^45 - Community-built assets where responsibility for
maintenance is then assumed by a public sector
unit.
Premiums, fees, and claims receivable
related to nonlife insurance and
standardized guarantee schemes (145)
5.149 Premiums, fees, and claims receivable re-
lated to nonlife insurance and standardized guarantee
schemes (145) comprise nonlife insurance premiums(^43) Where a realistic expectation exists that such amounts will
be repayable, as indicated by certain criteria (see Box 6.3), the
transaction should be classifi ed as the acquisition of a fi nancial
asset. A regular transfer covering an operating defi cit is recorded
as a subsidy.
(^44) Details on debt cancellation, debt assumption, and other gov-
ernment debt operations can be found in Appendix 3, and in the
PSDS Guide, Chapter 4.
(^45) Amounts receivable up to the expected value of the liabilities
should be recorded as transactions in fi nancial assets and liabili-
ties (i.e., the incurrence of a liability) (see paragraph 9.67).
Table 5.11 Detailed Classifi cation of Transfers
Not Elsewhere Classifi ed (144)
144 Transfers not elsewhere classifi ed
1441 Current transfers not elsewhere classifi ed
14411 Subsidies1,2,3
14412 Other current transfers not elsewhere
classifi ed1,3
1442 Capital transfers not elsewhere classifi ed1,3
(^1) Further breakdown/“of which” lines could allow for the identifi -
cation of subsectors and individual units (see Table 3.1).
(^2) Further breakdown/“of which” lines could also identify whether
these subsidies are subsidies on products or production.
(^3) Further breakdown/“of which” lines could also identify whether
these transfers are related to specifi c natural resource or environ-
mental revenue.