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

February 2, 2006

GENERAL ITEMS:

Judy Yuran (FMS) opened the meeting and introductions were made. Judy noted items on the agenda to be reviewed.

HANDOUTS

  • Crosswalk Revisions

  • Proposed Accounts and Definition Change (USSGL Account 88XX)

  • FAQ - Special/Trust Funds Draft Proposal - IRC 2/2/06

  • Proposal To Modify USSGL Transactions for Reductions Pertaining to USSGL Accounts 4128/4129 Where a Receivable/Payable Relationship Does NOT Exist

  • Proposal for New USSGL Transaction for Reductions of Expenditure Transfers Receivable/Payable

  • Advances - Prepayments, USSGL Accounts 1410, 1450, 2310, 2320

AGENDA ITEMS

Melinda Pope (FMS) presented the proposed change to the crosswalks relating to removal of the asterisks that will be replaced by a footnote in the Additional Information Required column. The IRC agreed to the proposed change to the crosswalk. Melinda also presented the handout "Proposed Accounts and Definition Change." The proposed USSGL account 8803 "Purchases of Inventory and Related Property" definition was changed to indicate that USSGL account 8803 closes into USSGL account 8802. The second sentence in the proposed USSGL account 8804 definition was changed to read "Other assets include but are not limited to purchase of investment requiring an outlay." Judy noted that these accounts serve a dual purpose: they help facilitate eliminations at the Governmentwide level and they help facilitate preparation of agencies financial statement footnotes. Kathy Sherrill (DOD) and Maryla Engelking (DOD) proposed adding a comment about Construction in Progress to USSGL account 8804's definition. Melinda is researching whether to include a comment. The Proposed Account Title for USSGL account 8802 was changed from "Purchases of Capitalized Assets - Property, Plant, and Equipment" to "Purchases of Property, Plant, and Equipment." Maryla proposed adding a comment to USSGL account 8802's definition about when to record USSGL account 8802. Judy expressed concern about stating when to record a particular USSGL account in the definition but agreed to refer readers to the appropriate FASAB standard.

Karen Metler (FMS) presented the handout "FAQ - Special/Trust Funds, Draft Proposal - IRC 2/2/06." The first Frequently Asked Question (FAQ) on the handout was presented and will be posted to the Web with a link to the FACTS II Web site that lists the Treasury Appropriation Fund Symbols (TAFS) that can use USSGL account 4119. Karen is modifying the second FAQ on the handout and will present it in a future IRC meeting.

Karen presented a new transaction for recording, in a Federal Fund, an adjustment of a previously established expenditure transfer receivable. This new transaction will be added to the reduction scenario entitled "Reductions of Expenditure Transfers Receivable/Payable."

Finally, Karen revised transactions A269 and A271 to accommodate trust or special fund activity where a receivable/payable relationship does not exist. She also discussed the need for revising the following USSGL account titles (and definitions) so that they are not limited to trust funds:

  • 4123 "Amounts Appropriated From Specific Treasury-Managed Trust Fund TAFS Reclassified - Receivable - Temporary Reduction"

  • 4124 "Amounts Appropriated From Specific Treasury-Managed Trust Fund TAFS Reclassified - Payable - Temporary Reduction"

  • 4126 "Amounts Appropriated From Specific Treasury-Managed Trust Fund TAFS - Receivable"

  • 4127 "Amounts Appropriated From Specific Treasury-Managed Trust Fund TAFS - Payable"

  • 4128 "Amounts Appropriated From Specific Treasury-Managed Trust Fund TAFS"

Gwen Marshman (FMS) presented the Advances/Prepayment handout. After some discussion, Gwen decided to send an email to all IRC members proposing deletion of USSGL account 1450 "Prepayments" and to combine it with USSGL account 1410 "Advances to Others." USSGL account 1410's title would become "Advances and Prepayments" and the definition would include prepayments. Additionally, we are proposing deletion of USSGL account 2320 "Deferred Credits" and to combine it with USSGL account 2310 "Advances From Others" to become USSGL account 2310 "Unearned Revenue." The revised definition for USSGL account 2310 would include deferred credits.

Michele Crisman (FMS) mentioned that the Draft Trial Balance Tie-Point and Sample Draft Trial Balance Tie-Point workbooks were uploaded to the USSGL Web site and that Judy plans to go to the Deputy Chief Financial Officers, in the near future, to officially request their agency's participation in the project.

ATTENDEES:

Judy Yuran, FMS
Michele Crisman, FMS
Keith Mertz, FMS
Karen Metler, FMS
Christine Chang, FMS
Melinda Pope, FMS
Kathy Winchester, FMS
Gwen Marshman, FMS
Teresa Lampkin, DOT
David Surti, USDA
Christine Chang, DOT
Donald Dispanet, HUD
Al Buck, USAID
Maryla Engelking, DOD
Kathy Sherrill, DOD
Martha Cooper, DFAS
Patrice Cousins, NSF
Maureen Wheeler, FMS
Stephen Hull, SSA
Junghee Gogue, SSA
Paul Webster, SSA
Chris Jankiewiez, SSA
Ofelia Moore, EPA
Natalia Costello, GSA
Barbara Harbell, DOE
Vickie Massey, FCC
Joseph Henry, SBA
Eileen Parlow, FASAB
Grace Kim, Ed
Jeanette Kuendel, USPTO
Geneva Jones, HHS
Lynn Bates, NRC