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SALES OF RECEIVABLES | 12 Months Ended
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Jun. 30, 2020
Transfers And Servicing Of Financial Assets [Abstract] |
SALES OF RECEIVABLES | NOTE 14. SALES OF RECEIVABLES On December 27, 2019, the Company amended its MARPA with MUFG Bank, Ltd. (the Purchaser), for the sale of certain designated eligible U.S. government receivables. The amendment extended the term of the MARPA to December 24, 2020. Under the MARPA, the Company can sell eligible receivables, including certain billed and unbilled receivables up to a maximum amount of $200.0 million. The Company’s receivables are sold under the MARPA without recourse for any U.S. government credit risk. The Company accounts for receivable transfers under the MARPA as sales under ASC 860, Transfers and Servicing, and derecognizes the sold receivables from its balance sheets. The fair value of the sold receivables approximated their book value due to their short-term nature. The Company does not retain an ongoing financial interest in the transferred receivables other than cash collection and administrative services. The Company estimated that its servicing fee was at fair value and therefore no servicing asset or liability related to these receivables was recognized as of June 30, 2020. Proceeds from the sold receivables are reflected in our operating cash flows on the statement of cash flows. MARPA activity consisted of the following (in thousands):
|  | As of and for the Year Ended June 30, |
|  | 2020 |  |  | 2019 |
Beginning balance: |  | $ | 192,527 |  |  | $ | — |
Sales of receivables |  |  | 2,393,684 |  |  |  | 1,126,395 |
Cash collections |  |  | (2,386,211 | ) |  |  | (933,868 | )
Outstanding balance sold to Purchaser: (1) |  |  | 200,000 |  |  |  | 192,527 |
Cash collected, not remitted to Purchaser (2) |  |  | (57,020 | ) |  |  | (54,567 | )
Remaining sold receivables |  | $ | 142,980 |  |  | $ | 137,960 |
| (1) | For the year ended June 30, 2020 and 2019, the Company recorded a net cash inflow in its cash flows from operating activities of $7.5 million and $192.5 million, respectively, from sold receivables. MARPA cash flows are calculated as the change in the outstanding balance during the fiscal year.
| (2) | Includes the cash collected on behalf of but not yet remitted to the Purchaser as of June 30, 2020 and 2019. This balance is included in other accrued expenses and current liabilities as of the balance sheet date.

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- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -Subparagraph (c)(3) -URI 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