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U.S. Government Standard General Ledger
Issues Resolution Committee (IRC) Meeting Minutes

May 27, 2010

GENERAL ITEMS

Kathy Winchester (FMS) opened the meeting by reviewing the agenda. She mentioned that the remainder of the tables and crosswalks will be presented at the IRC next week.

HANDOUTS:

  • Draft, USSGL Proprietary Account Attribute Definition Report for Fiscal 2010, dated May 27, 2010

  • Draft, USSGL Proprietary Account Attribute Definition Report for Fiscal 2011, dated May 27, 2010

  • Draft, Fiscal 2010 USSGL Proprietary Account Attributes Required for Reporting of Detailed Financial Information, dated May 27, 2010

  • Draft, Fiscal 2011 USSGL Proprietary Account Attributes Required for Reporting of Detailed Financial Information, dated May 27, 2010

  • Draft, USSGL Crosswalk – Balance Sheet for Fiscal 2010 Reporting, dated May 27, 2010

  • Draft, USSGL Crosswalk – Balance Sheet for Fiscal 2011 Reporting, dated May 27, 2010

  • Draft, USSGL Crosswalk – Statement of Net Cost for Fiscal 2010 Reporting, dated May 27, 2010

  • Draft, USSGL Crosswalk – Statement of Net Cost for Fiscal 2011 Reporting, dated May 27, 2010

  • Draft, USSGL Crosswalk – Statement of Changes in Net Position for Fiscal 2011, dated May 27, 2010

  • Draft, USSGL Crosswalk – Statement of Custodial Activity for Fiscal 2011, dated May 27, 2010

  • Draft, USSGL Crosswalk – Statement of Budgetary Resources for Fiscal 2011 Reporting, dated May 27, 2010

AGENDA ITEMS:

Gwen Marshman (FMS) reviewed handouts for the USSGL Proprietary Account Attribute Definition Report (ADR) for Parts 1 and 2 (fiscal 2010 and 2011).

Fiscal 2010 ADR
  • Revised attribute names to include “code” or “indicator” for all except the attribute “Trading Partner.” This was done for the Common Government Accounting Classification (CGAC) system and to ensure conformity for the data registry.

  • In column “Domain,” revised domain values for Budget Subfunction Code and Trading Partner attributes for consistency.

  • In column “System Characters,” revised Covered/NotCovered Code and Entity/NonEntity Indicator attributes for consistency.

  • Deleted column “Supplied By” because it does not provide useful information.

  • Added column “Treasury System” to provide references to FACTS I or Non FACTS I. The handout showed a blank space for Covered/NotCovered Code and Entity/NonEntity Indicator attributes. The IRC would like to see “N/A” instead of a blank space.
Fiscal 2011 ADR
  • Two new attributes were added, "Budget Impact Indicator" and "Program Indicator."

  • In column “Treasury System,” blank spaces will be changed to “N/A.”
Fiscal 2010 USSGL Proprietary Account Attributes Required for Reporting of Detailed Financial Information
  • Deleted “FACTS I” from the crosswalk heading. This should have been deleted in the last USSGL TFM release.

  • All shading was removed from the crosswalks and tables. As mentioned in the USSGL Board meeting, the shading represented different values on different crosswalks and tables. The IRC decided this information was confusing and not useful.

  • Revised column headings for FACTS I and non-FACTS I attributes.

  • Revised domain value “Y” from “E” for Entity/NonEnt attribute because investments are purchased with deposit funds, which are non-entity assets for USSGL accounts:

    1342, “Interest Receivable – Investments”

    1346, “Allowance for Loss on Interest Receivable – Investments”

    1610, “Investments in U.S. Treasury Securities Issued by the Bureau of the Public Debt”

    1611, “Discount on U.S. Treasury Securities Issued by the Bureau of the Public Debt”

    1612, “Premium on U.S. Treasury Securities Issued by the Bureau of the Public Debt”

    1613, “Amortization of Discount and Premium on U.S. Treasury Securities Issued by the Bureau of the Public Debt”

    1620, “Investments in Securities Other Than the Bureau of the Public Debt”

    1621, “Discounts on Securities Other Than the Bureau of the Public Debt”

    1622, “Premium on Securities Other Than the Bureau of the Public Debt”

    1623, “Amortization of Discount and Premium on Securities Other Than the Bureau of the Public Debt"

    1630, “Investments in U.S. Treasury Zero Coupon Bonds Issued by the Bureau of the Public Debt”

    1631, “Discount on U.S. Treasury Zero Coupon Bonds Issued by the Bureau of the Public Debt”

    1633, “Amortization of Discount on U.S. Treasury Zero Coupon Bonds Issued by the Bureau of the Public Debt”

    1638, “Market Adjustment – Investments in U.S. Treasury Zero Coupon Bonds”

    1639, “Contra Market Adjustment – Investments in U.S. Treasury Zero Coupon Bonds”

    1690, “Other Investments”

  • Deleted domain values “X” and “T” for Exchange/NonExchange attribute because this attribute is not associated with receivables. This was an error in the last USSGL TFM release for USSGL accounts:

    1360, “Penalties and Fines Receivable – Not Otherwise Classified”

    1361, “Penalties and Fines Receivable – Loans”

    1363, “Penalties and Fines Receivable – Taxes”

    1365, “Allowance for Loss on Penalties and Fines Receivable – Loans”

    1367, “Allowance for Loss on Penalties and Fines Receivable – Not Otherwise Classified”

    1368, “Allowance for Loss on Penalties and Fines Receivable – Taxes”

    1370, “Administrative Fees Receivable – Not Otherwise Classified”

    1371, “Administrative Fees Receivable – Loans”

    1373, “Administrative Fees Receivable – Taxes”

    1375, “Allowance for Loss on Administrative Fees Receivable – Loans”

    1377, “Allowance for Loss on Administrative Fees Receivable – Not Otherwise Classified”

    1378, “Allowance for Loss on Administrative Fees Receivable – Taxes”

  • Added USSGL Board Ballot #10-01 USSGL Accounts:

    1380, “Loans Receivable – Troubled Assets Relief Program”

    1381, “Interest Receivable – Troubled Assets Relief Program”

    1385, “Allowance for Loss on Interest Receivable – Troubled Assets Relief Program”

    1389, “Allowance for Subsidy – Loans – Troubled Assets Relief Program”

    1642, “Preferred Stock Accounted for Under the Provisions of the Federal Credit Reform Act”

    1643, “Allowance for Subsidy – Preferred Stock Accounted for Under the Provisions of the Federal Credit Reform Act”

    1644, “Common Stock Accounted for Under the Provisions of the Federal Credit Reform Act”

    1645, “Allowance for Subsidy – Common Stock Accounted for Under the Provisions of the Federal Credit Reform Act”

    1646, “Discount on Securities Accounted for Under the Provisions of the Federal Credit Reform Act”

    1647, “Premium on Securities Accounted for Under the Provisions of the Federal Credit Reform Act”

    1650, “Preferred Stock in Federal Government Sponsored Enterprise”

    1651, “Market Adjustment – Preferred Stock in Federal Government Sponsored Enterprise”

    1652, “Common Stock Warrants in Federal Government Sponsored Enterprise”

    1653, “Market Adjustment – Common Stock Warrants in Federal Government Sponsored Enterprise”

    1660, “Beneficial Interest in Trust”

    1661, “Market Adjustment – Beneficial Interest in Trust”

    2112, “Accounts Payable for Federal Government Sponsored Enterprise”

    2922, “Contingent Liabilities – Federal Government Sponsored Enterprise”

    5314, “Dividend Income Accounted for Under the Provisions of the Federal Credit Reform Act”

    5315, “Contra Revenue for Dividend Income Accounted for Under the Provisions of the Federal Credit Reform Act”

    5922, “Valuation Change in Investments for Federal Government Sponsored Enterprise”

    *5923, “Valuation Change in Investments – Beneficial Interest in Trust”

    *Note: The handout indicated domain value “X” for Exchange/NonExch and a blank space for Cust/Noncust attributes. This was revised to domain value “T” for Exchange/NonExch attribute and domain value “S” for Cust/Noncust attribute.

  • Revised domain value “Y” from “C” for Covered/NotCov attribute because deposit funds are not covered for USSGL account 2400, “Liability for Nonfiduciary Deposit Funds, Clearing Accounts, and Undeposited Collections.”

  • On the Additional Information, page IV-14, of the handout:

    – “Proprietary” was added to Note 1.

    – “Below” was added and “Note 6” was removed.

    – Notes 3 and 4 were deleted (they are no longer required for the table).

    – Note 5 has been renumbered to Note 3.

    – Note 6 was revised as a non-numbered note.

    – Attribute names will include “code” or “indicator” where applicable.

Fiscal 2011 USSGL Proprietary Account Attributes Required for Reporting of Detailed Financial Information
  • Added USSGL Board Ballot #10-01 USSGL Accounts:

    1125, “U.S. Debit Card Funds”

    1193, “International Monetary Funds Assets – Reserve Portion” (correct title on USSGL Board Ballot #10-01)

    1194, “Exchange Stabilization Fund Assets – Holdings of Special Drawing Rights”

    1923, “Contingent Receivable for Capital Transfers”

    1925, “Capital Transfers Receivable”

    2660, “Actuarial Liabilities for Federal Insurance and Guarantee Programs” (correct title on USSGL Board Ballot #10-01)

    2670, “Actuarial Liabilities for Treasury-Managed Benefit Programs” (correct title on USSGL Board Ballot #10-01)

    2923, “Contingent Liabilities for Capital Transfers”

    3105, “Unexpended Appropriations – Prior Period Adjustments Due to Corrections of Errors – Years Preceding the Prior Year”

    *5640, “Forfeiture Revenue – Cash and Cash Equivalents”

    *5649, “Contra Forfeiture Revenue – Cash and Cash Equivalents”

    *5650, “Forfeiture Revenue – Property”

    *5659, “Contra Forfeiture Revenue – Property”

    *Note: The handout indicated domain value “Y” for Cust/Noncust attribute. This was revised to a blank space.

    5705, “Expended Appropriations – Prior Period Adjustments Due to Corrections of Errors – Years Preceding the Prior Year”

    5921, “Valuation Change in Investments – Exchange Stabilization Fund”

    7405, “Prior-Period Adjustments Due to Corrections of Errors – Years Preceding this Prior Year”

  • By adding USSGL account 2923, “Contingent Liabilities for Capital Transfers,” revised domain value “N” from “Y” for Fed/NonFed attribute and deleted domain value “Y” for trading partner for USSGL account 2920, “Contingent Liabilities.”

  • Due to a correction in the fiscal 2010 table for USSGL account 5923, “Valuation Change in Investments – Beneficial Interest in Trust" (see above), added domain value “S” for Cust/NonCust attribute.

  • On the Additional Information, page IV-15, of the handout, added new attributes “Budget Impact Indicator” and “Program Indicator.”
USSGL Crosswalk – Balance Sheet for Fiscal 2010 Reporting
  • The handout does not contain the proper column heading over the Fed/NonFed attribute. The final crosswalk column heading will contain, “USSGL Account Attributes for FACTS I.”

  • Added USSGL Board Ballot #10-01 USSGL Accounts:

  • Line USSGL Account
    8 1642, “Preferred Stock Accounted for Under the Provisions of the Federal Credit Reform Act”

    1643, “Allowance for Subsidy – Preferred Stock Accounted for Under the Provisions of the Federal Credit Reform Act”

    1644, “Common Stock Accounted for Under the Provisions of the Federal Credit Reform Act”

    1645, “Allowance for Subsidy – Common Stock Accounted for Under the Provisions of the Federal Credit Reform Act”

    1646, “Discount on Securities Accounted for Under the Provisions of the Federal Credit Reform Act”

    1647, “Premium on Securities Accounted for Under the Provisions of the Federal Credit Reform Act”

    1650, “Preferred Stock in Federal Government Sponsored Enterprise”

    1651, “Market Adjustment – Preferred Stock in Federal Government Sponsored Enterprise”

    1652, “Common Stock Warrants in Federal Government Sponsored Enterprise”

    1653, “Market Adjustment – Common Stock Warrants in Federal Government Sponsored Enterprise”

    1660, “Beneficial Interest in Trust”

    1661, “Market Adjustment – Beneficial Interest in Trust”

    11 *1380, “Loans Receivable – Troubled Assets Relief Program”

    *1381, “Interest Receivable – Troubled Assets Relief Program”

    *1385, “Allowance for Loss on Interest Receivable – Troubled Assets Relief Program”

    *1389, “Allowance for Subsidy – Loans – Troubled Assets Relief Program”

    *Note: These USSGL accounts are presented with a domain value “Y” for Fed/NonFed attribute. Marilyn Evans (Main Treasury) indicated that this may change to “N” (NonFed) only. If the domain value is not changed, these accounts will also be shown on their respective Lines 3 and 4 with a domain value “F.”
    12 Added domain value “N” for Fed/NonFed attribute for all USSGL accounts on this line for consistency. The domain value was inadvertently left off in past USSGL TFM releases.
    24 Addl. Info. Note 9 was added to USSGL account 2690, “Other Actuarial Liabilities.” The IRC also requested adding Note 8 for clarity by directing the user to both notes.
    27 2112, “Accounts Payable for Federal Government Sponsored Enterprise”

    2922, “Contingent Liabilities – Federal Government Sponsored Enterprise”

    Addl. Info. Note 10 was added to USSGL account 2980, “Custodial Liability.”

    The IRC also requested adding Note 9 to USSGL account 2690, “Other Actuarial Liabilities” for clarity by directing the user to both notes.
    29, 30, 32     The “Note” references were changed to agree with OMB Circular No. A-136.
    32 5314, “Dividend Income Accounted for Under the Provisions of the Federal Credit Reform Act”

    5315, “Contra Revenue for Dividend Income Accounted for Under the Provisions of the Federal Credit Reform Act”

    5922, “Valuation Change in Investments for Federal Government Sponsored Enterprise”

    5923, “Valuation Change in Investments – Beneficial Interest in Trust”

    Addl. Info. Note 10 was added to USSGL accounts 5990, “Collections for Others – Statement of Custodial Activity,” and 5991, “Accrued Collections for Others – Statement of Custodial Activity."
    33 5314, “Dividend Income Accounted for Under the Provisions of the Federal Credit Reform Act”

    5315, “Contra Revenue for Dividend Income Accounted for Under the Provisions of the Federal Credit Reform Act”

    5922, “Valuation Change in Investments for Federal Government Sponsored Enterprise”

    5923, “Valuation Change in Investments – Beneficial Interest in Trust”


  • On the Footnotes and Additional Information, page IV-22, of the handout:

    – Note 8 was revised to include the portion that is related to the Treasury-managed benefit actuarial liability. This note will be deleted in fiscal 2011 with the addition of USSGL account 2670, “Actuarial Liabilities for Treasury-Managed Benefit Programs.”

    – Note 9 was added to separate activity in USSGL account 2690, “Other Actuarial Liabilities.” This note will be deleted in fiscal 2011 with the addition of USSGL accounts 2660, “Actuarial Liabilities for Federal Insurance and Guarantee Programs,” and 2670, “Actuarial Liabilities for Treasury-Managed Benefit Programs.”

    – Note 10 was added. The IRC discussed adding this note at their July 2007 meeting to avoid any more questions as to why USSGL account 2980, “Custodial Liability,” includes domain value “N” for Nonfed attribute.
USSGL Crosswalk – Balance Sheet for Fiscal 2011 Reporting
  • The handout does not contain the proper column heading over the Fed/NonFed attribute. The final crosswalk column heading will contain, “USSGL Account Attributes for FACTS I.”

  • Added USSGL Board Ballot #10-01 USSGL Accounts:

    Line USSGL Account
    3 1923, “Contingent Receivable for Capital Transfers”

    1925, “Capital Transfers Receivable”
    7 1125, “U.S. Debit Card Funds”

    1193, “International Monetary Funds Assets – Reserve Portion” (correct title on USSGL Ballot 10-01)

    1194, “Exchange Stabilization Fund Assets – Holdings of Special Drawing Rights”
    19 2923, “Contingent Liabilities for Capital Transfers” (delete USSGL account, 2920,“Contingent Liabilities”)
    27 2660, “Actuarial Liabilities for Federal Insurance and Guarantee Programs”

    2670, “Actuarial Liabilities for Treasury-Managed Benefit Programs” (delete USSGL account 2690, “Other Actuarial Liabilities”)
    30 3105, “Unexpended Appropriations – Prior Period Adjustments Due to Corrections of Errors – Years Preceding the Prior Year”
    31 3105, “Unexpended Appropriations – Prior Period Adjustments Due to Corrections of Errors – Years Preceding the Prior Year”
    32,33     5640, “Forfeiture Revenue – Cash and Cash Equivalents”

    5649, “Contra Forfeiture Revenue – Cash and Cash Equivalents”

    5650, “Forfeiture Revenue – Property”

    5659, “Contra Forfeiture Revenue – Property”

    5705, “Expended Appropriations – Prior Period Adjustments Due to Corrections of Errors – Years Preceding the Prior Year”

    5921, “Valuation Change in Investments – Exchange Stabilization Fund”

    7405, “Prior-Period Adjustments Due to Corrections of Errors – Years Preceding This Prior Year” (was not on the handout but should be)
  • On the Footnotes and Additional Information, page IV-23, of the handout:

    – Note 2 was deleted.

    – Note 3 was deleted. OMB requested that any references to “only use with permission from Treasury or OMB" be removed last year. Several USSGL account definitions were revised last year.

    – Notes 4, 5, and 6 were deleted. The crosswalk line titles provide this information.

    – Note 7 was renumbered to Note 2.

    – Notes 8 and 9 were deleted by adding USSGL accounts 2660 and 2670.

    – Note 10 was renumbered to Note 3.
USSGL Crosswalk – Statement of Custodial Activity for Fiscal 2010 Reporting

Christine Chang (FMS) reviewed handouts for the USSGL Crosswalk – Statement of Custodial Activity for Part 2 (fiscal 2011).

The USSGL staff realized that Beneficial Interest in Trust activity should be included in the fiscal 2010 Statement of Custodial Activity. They will work with the Department of the Treasury to find the appropriate line to report this activity.

USSGL Crosswalk – Statement of Custodial Activity for Fiscal 2011 Reporting

USSGL Crosswalk – Statement of Net Cost for Fiscal 2010 Reporting

Karl Foltz (FMS) reviewed handouts for the USSGL Crosswalk – Statement of Net Cost for both Part 1 (Fiscal 2010).


USSGL Crosswalk – Statement of Custodial Activity for Fiscal 2011 Reporting

Karl Foltz (FMS) reviewed handouts for the USSGL Crosswalk – Statement of Net Cost for both Part 2 (Fiscal 2011).

USSGL Crosswalk – Statement of Changes in Net Position for Fiscal 2011 Reporting

Edwin Walker (FMS) reviewed handouts for the USSGL Crosswalk – Statement of Changes in Net Position for Part 2 (fiscal 2011).

USSGL Crosswalk – Statement of Budgetary Resources for Fiscal 2011 Reporting

Jena Gruby (FMS) reviewed handouts for the USSGL Crosswalk – Statement of Budgetary Resources for Part 2 (fiscal 2011) reporting.

ATTENDEES:

Kathy Winchester, FMS
Karen Metler, FMS
Melinda Pope, FMS
Edwin Walker, FMS
Gwen Marshman, FMS
Karl Foltz, FMS
Christine Chang, FMS
Jena Gruby, FMS
Brian McNutt, FMS
Ben Sussman, FMS
Anthony Dunbar, FMS
Marilyn Evans, Treasury
Teresa Tancre, OMB
Susan Stengel, NRC
Webster Coleman, DOL
Daniel Smith, USPTO
Yong Sun, HUD
Alice Rice, DOD
Drena McDaniel, DOT
Teresa Lampkin, DOT
Jenny Smith, HHS
Harold Blitz, FMS/AS
Kim Klein, Energy
Barbara Harbell, Energy
Leon Fleischer, SBA
Joseph Henry, SBA
Yen Le, State
Lise Trumbull, GSA
Michael Ward, GSA
Ellis Ogun, NASA
Jerri Jones, DOJ
Yu Chen Yeh, NASA
Jenny Smith, HHS
Tesfaye Wyes, DOC
Michele Murphy, VA
Chris Catignani, SEC
Nancie Kebioh-Gray, Education
Paul Webster, SSA
Dianne White, SSA
Mark Graham, SSA
Evangeline Labador, SSA


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