Federal Agencies' Centralized
Trial-Balance System II

Reporting Window Schedule

Note: During each quarter window, users may add supplementals to the previous quarter's submission. For example, during Quarter 2, a supplemental may be added to the Quarter 1 submission. The same applies to Quarters 3 and 4. For Quarter 1, however, a supplemental cannot be added for the previous Quarter 4 submission. Instead, a revision period is granted by OMB in November. In addition, for Quarters 1, 2, 3, and 4, agencies may add supplementals for the current quarter.

The Revision Period--The primary purpose of the FACTS II revision period is to make FACTS II consistent with amounts in the prior-year column of the Budget. You should use the revision period to correct errors; you should not view the revision period as providing you extra time to verify your data. You must provide revisions for both material and non-material amounts. The senior management at your agency and your auditors will need to determine whether your financial statements for the next reporting cycle should be restated or footnoted for the revisions made in FACTS II that result in differences between the Statement of Budgetary Resources and the Budget. You can refer to OMB Circular A-11 section 82.15 for more information about revisions.