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

February 28, 2008

GENERAL ITEMS:

This meeting was held at the General Accounting Office, 441 G Street NW., Room 7B15, Washington, DC.

Judy Yuran (FMS) opened the meeting and briefly discussed the USSGL Multiline Project Reciprocal Category Matrix. This matrix summarizes all the new accounts and changes to existing accounts that are being proposed for the Multiline Project.

HANDOUTS:

  • USSGL Multiline Project Reciprocal Category Matrix (Draft)

  • Proposed Revisions to USSGL Account 5791, "Adjustment to Financing Sources - Downward Reestimate/Negative Subsidy," dated February 28, 2008

  • Section II Multiline Project (Draft dated February 28, 2008)

  • TFM Volume I, Part 2, Chapter 4700, Appendix 7: Federal Intragovernmental Transactions Categories of Reciprocal U.S. Standard General Ledger Proprietary Accounts

AGENDA ITEMS:

Michele Crisman (FMS) led the discussion on the draft USSGL Multiline Project Reciprocal Category Matrix. Bruce Henshel (DOC) and Kathy Sherrill (DOD) questioned the necessity of a one-for-one match between revenue accounts and receivable accounts for interest. The general consensus was that there is no compelling reason to have that level of detail. Michele stated that the USSGL staff would put the 134X USSGL accounts on hold until a specific need is identified. Bruce also questioned the need to break out fines and penalties. He suggested that the administrative burden and cost may outweigh the benefit.

Eileen Parlow (FASAB) pointed out that the phrase, "Applies only to non-credit reform," should be added to the definition of the following USSGL accounts:

1362, "Penalties and Fines Receivable - Loans"
1367, "Allowance for Loss on Penalties and Fines Receivable - Loans"
1372, "Administrative Fees Receivable - Loans"
1377, "Allowance for Loss on Administrative Fees Receivable - Loans"
5322, "Penalties and Fines Revenue - Loans"
5327, "Contra Revenue for Penalties and Fines"
5332, "Administrative Fees Revenue - Loans"
5337, "Contra Revenue for Administrative Fees - Loans"

Leon Fleischer (SBA) gave a brief update on the Credit Reform working group. He stated that the group members are working on a case study for negative subsidies. They also are reviewing several USSGL accounts that may no longer be necessary.

CLOSING REMARKS:

Judy asked if agency representatives had any other issues to discuss. Then she closed the meeting.

ATTENDEES:

Judy Yuran, FMS
Michele Crisman, FMS
Melinda Pope, FMS
Keith Mertz, FMS
Karl Foltz, FMS
Jui-Ting Liu, NASA
Irvin Bigay, NASA
Kim Klein, DOE
Sam Idahosa, Treasury
Dan Smith, PTO
Susan Stengel, NRC
Yong Sun, HUD/FSA
Michele Murphy, VA
Janet Winchester, VA
Kathy Sherrill, DOD
Eileen Parlow, FASAB
Bruce Henshel, Commerce
Kevin Dugas, DOT
Lise Trumbull, GSA
Michael Ward, GSA
Chris Dyson, Ed
Leon Fleischer, SBA
Vernon Johnson, DOJ
Webster Coleman, DOL
Yen Le, State
Kristina Poist, SSA


   Last Updated:  March 14, 2014