Federal Agencies' Centralized Trial-Balance System II
Treasury, OMB and other agencies recognize that data for all accounts submitted on the FMS 2108, SF 133,
and P&F Schedule in the President's Budget should agree, and should be reported consistently from all
agencies. In order to eliminate duplicate reporting and improve the consistency of data reported
government-wide, an inter-agency group spent a year determining how accounting data in agency systems
should map to each entry on the FMS 2108, SF 133, and much of the prior year column of the P&F Schedule.
The group used Standard General Ledger (USSGL) accounts, and also identified 20 other kinds of data that
are needed to create precise crosswalks between agency accounting data (mostly budgetary, some
proprietary) and the FMS 2108, SF 133, and P&F. Since then, Treasury and OMB have made a number of
changes in the data they collect from agencies to improve the consistency of what they request, and to improve
the consistency between data in agency accounting systems and what Treasury and OMB publish.
FACTS II provides numerous benefits for agencies, FMS and OMB. For example, FACTS II:
Eliminates duplicate reporting: agencies submit one set of FACTS II data rather than separately submitting SF 133, FMS 2108 and P&F data.
Initializes much of the prior year column of the P&F Schedule with FACTS II data, saving data entry for budget formulation shops.
Eliminates reconciling FMS 2108, SF 133 and P&F submissions
Improves consistency of data reported across the government by relying on USSGL account adjusted trial balances plus attributes. The use of FACTS II requires familiarity with basic accounting, USSGL accounts and related attributes that are used for FACTS II reporting.
Note: The Federal Financial Management Improvement Act (P.L. 104-208, section 101(f)(803))
and section 7(c) of OMB Circular No. A-127 require agencies' financial systems to comply with
USSGL at the transaction level. Auditors are required to test for USSGL compliance.