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U.S. Government Standard General Ledger Board
Meeting Minutes

USSGL Board Minutes

April 26, 2007

PLACE: Department of Transportation
400 7th Street, SW.
Room 3200
Washington, D.C.

TIME: 9 a.m. to 11:30 a.m.

PARTICIPANTS

Kathy Winchester, FMS
Melinda Pope, FMS
Michele Crisman, FMS
Keith Mertz, FMS
Christine Chang, FMS
Karl Foltz, FMS
Jeff Hoge, FMS
David Surti, DHS
Eileen Parlow, FASAB
Christine Kent, OPM
Junghee Gogue, SSA
Joe McAndrew, Treasury
Bill Morris, HHS
Mike Plutkis, TAS
Jenny Smith, HHS
DJ Akinnagbe, DOC
Katherine Day, OSD
Tesfaye Wyes, DOC
Catherine Irani, GSA
Maryla Engelking, DOD
Eva Abeles, EPA
Jonathan Pavlik, FMS
Grace Kim, ED
Bruce Henshel, DOC
Leon Fleischer, SBA
Kim Williams, DOJ
Michele Murphy, VA
Janet Winchester, VA
Dovocas Cheng, USDA
Kevin Dugas, DOT
Yong Sun, FHA
Eileen Angle, State
Al Buck, USAID
Gregory Parker, HUD
Traci Carroll, HUD
Kyana Evans, EPA
Webster Coleman, DOL

HANDOUTS

The following handouts were available:
  • Agenda

  • USSGL Voting Ballot #07-01

  • General Fund Receipt Account Guide

  • Flowchart - General Fund Receipt Collections to Collecting Agency's Financial Statements

  • USSGL Web Site Demonstration

  • Anticipated Changes - SF 133 and Statement of Budgetary Resources

  • U.S. Treasury Zero Coupon Bonds

  • Partial and Early Cancellation of Authority

  • Capitalized Loan Interest

PRESENTATIONS AND DISCUSSIONS

Opening Remarks

Kathy Winchester (FMS) opened the meeting with a general overview of the topics to be discussed.

Financial Reporting Standardization Project

Jeff Hoge (FMS) discussed the new Financial Reporting Standardization (FIRST) project. He said FIRST will replace the Federal Agencies Centralized Trial-Balance System (FACTS) I, FACTS II, and the Intragovernmental Reporting and Analysis System. FIRST will improve intragovernmental eliminations and the consistency of reporting. Jeff stated that work on the FIRST project will begin in a few weeks, and that FMS is seeking agency input. He asked for volunteers to work on the FIRST project and said that FMS will need at least six pilot agencies. Central accounting data should be available for agency use by the middle of July. The files that will be provided are tools to assist agencies in reconciling their own data. The implementation of FIRST is planned between the third quarter of 2010 and the third quarter of 2011.

General Fund Receipt Account (GFRA) Guide

Christine Chang (FMS) reviewed the GFRA Guide. She said the emphasis of the guide is on collections for GFRAs that are not reported on the Statement of Custodial Activity. The USSGL Voting Ballot details the new USSGL accounts and changes to existing USSGL accounts. Christine also reviewed a flowchart for determining how various collections should be reported. She concluded her presentation by requesting that agencies submit an issue form through the USSGL Web site if they have collections that do not fit any of the scenarios in the GFRA Guide. She stated that the USSGL staff already knows of some activities, like capital transfers and interest payments to GFRAs, that may be added to the GFRA Guide in the future. Bruce Henshel (DOC) asked a question about USSGL accounts 5993, "Offset to Non-Entity Collections - Statement of Changes in Net Position," and 5994, "Offset to Non-Entity Accrued Collections - Statement of Changes in Net Position," being reported on line 11, "Transfer in/out without reimbursement," of the Statement of Changes in Net Position. He suggested that since these accounts are not transfer accounts, they should be reported on line 13, "Other." Christine said the amounts represented in USSGL accounts 5993 and 5994 are to offset collections into the General Fund receipt account as well as amounts that are transferred to the General Fund of the Treasury. Christine will research the issue.

Statement of Custodial Activity Collection Transfer Accounts

Kathy Winchester briefly discussed Statement of Custodial Activity Collection, USSGL transfer accounts 5997, "Financing Sources Transferred In From Custodial Statement Collections," and 5998, "Custodial Collections Transferred Out to a Treasury Account Symbol." These accounts capture the flow of resources from a GFRA reported on the Statement of Custodial Activity to another Treasury Account Symbol (TAS). The TAS receiving the financing source also posts a budgetary resource. These accounts will be available for early implementation in fiscal 2007.

USSGL Web Site Demonstration

Melinda Pope (FMS) reviewed a series of screen shots showing the new layout and search capabilities of the USSGL Web site. She stated that, in the future, scenarios will be updated and a search function will be added for them. Gwen Marshman (FMS) recommended that IRC members subscribe to the USSGL Web site in order to receive notifications whenever the USSGL is updated.

Revisions to SF 133

Kathy Winchester presented anticipated changes to the SF 133 and Statement of Budgetary Resources. She discussed the new adjustment lines that will appear in lines 1, 12A, and 12B of the SF 133. She also reviewed the new Prior_Year_Adjustment attribute that will be in FACTS II for fiscal 2008. She stated that the USSGL crosswalk for the SF 133 and Statement of Budgetary Resources will remain a single crosswalk and that the new lines for the SF 133 will not be applicable to the Statement of Budgetary Resources.

Zero Coupon Bonds

Michele Crisman (FMS) presented transactions for U.S. Treasury Zero Coupon Bonds and Partial and Early Cancellation of Authority. A new budgetary USSGL account is needed for zero coupon bond activity to capture amortization and market adjustments in Trust Revolving Funds. A new budgetary USSGL account also is needed so authority that is canceled early can be distinguished from authority that is canceled 5 years after the expiration of an annual or multiyear appropriation. Michele stated that policy on cancellations is an ongoing effort and that there probably will be at least one more scenario.

Capitalized Loan Interest Receivable Accounts

Melinda Pope briefly reviewed several slides showing new USSGL accounts 1351, "Capitalized Loan Interest Receivable - Non-Credit Reform," and 2511, "Capitalized Loan Interest Payable - Non-Credit Reform," for capitalized loan interest and the impact these accounts will have on the USSGL crosswalk for the Balance Sheet.

Closing Remarks

Kathy Winchester closed the meeting by asking attendees for comments. Gwen Marshman advised members that the USSGL Voting Ballot is due May 11, 2007. Michele Crisman said that at one of the upcoming IRC meetings, General Fund Tie-Points and proprietary attributes for FIRST would be discussed.


   Last Updated:  March 14, 2014