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

December 6, 2007

GENERAL ITEMS:

Judy Yuran (FMS) opened the meeting by thanking everyone for attending and introductions were made. She stated that Teresa Tancre (OMB), Karen Metler (FMS), and Kathy Winchester (FMS) would discuss the effect the Federal Agencies' Centralized Trial-Balance System (FACTS) II, USSGL Account Attribute Prior-Year Adjustment (PYA), will have on the Fiscal 2008 USSGL crosswalks for the SF 133: Report on Budget Execution, the Statement of Budgetary Resources, and the FMS 2108: Yearend Closing Statement - Unexpended Balances, Investments, and Imprest Funds for Fiscal 2008 Reporting. In addition, Michele Crisman (FMS) would discuss some corrections on the Fiscal 2008 USSGL FACTS II Attribute Table and Statement of Changes in Net Position crosswalk.

HANDOUTS:

  • Treasury Financial Manual (TFM) Bulletin No. 2008-05 (dated November 19, 2007), "Prior-Year Adjustment Attribute Required for Federal Agencies' Centralized Trial-Balance System (FACTS) II Reporting"

  • OMB Circular No. A-11 (revised - November 2007), Appendix F, "Format of SF 132 and SF 133"

  • PYA Domain Values for FACTS II (Draft)

  • USSGL Crosswalk - SF 133: Report on Budget Execution and the Statement of Budgetary Resources for Fiscal 2008 Reporting (Draft)

  • USSGL Crosswalk - FMS 2108: Yearend Closing Statement - Unexpended Balances, Investments, and Imprest Funds for Fiscal 2008 Reporting (Draft)

  • Illustrations of Prior-Year Adjustment (PYA) Impact on FMS 2108 (Draft)

  • Fiscal 2008 Footnotes and Additional Information (SF 133) (Draft)

  • Fiscal 2008 USSGL Account Attributes Required for FACTS II Reporting on Detailed Financial Information (Draft, dated December 6, 2007)

  • USSGL Crosswalk - the Statement of Changes in Net Position for Fiscal 2008 Reporting (SCNP) (Draft, dated December 6, 2007)

Karen referred the committee to TFM Bulletin No. 2008-05 (dated November 19, 2007), for an explanation of reporting requirements for the FACTS II PYA attribute. She also mentioned new guidance for materiality presented in OMB Circular No. A-11, Appendix F, "Format of SF 132 and SF 133." The materiality thresholds for Treasury backdated documents and SF 133 reporting requirements for PYAs of fund balance related transactions are now in agreement. Furthermore, the attribute will aid in the preparation of the Treasury Combined Statement.

The Illustrations of Prior-Year Adjustment (PYA) Impact on the FMS 2108 handout provides specific USSGL accounting transactions that indicate examples of when to use the attributes and how they flow to columns on the FMS 2108. This is a working document that began with a focus on the budgetary transactions. Proprietary transactions need to be revised, and closing entries will be added. Please note on the handout - page 4 of 5, the credit to USSGL account 4251, "Reimbursements and Other Income Earned - Receivable," shown as "p", should be replaced with the correction "b".

Karen reviewed the PYA Domain Values for FACTS II handout. She explained that this document was initially derived from the USSGL TFM FACTS II Attribute Table. However, the official attribute table only displays "Y" values when there are two or more valid domain values, not the applicable domain values that are provided on the handout. In order to crosswalk the specific domain values applicable to the SF 133 and FMS 2108 crosswalks, the domain values for each USSGL account in FACTS II needed to be identified. Additionally, it was noted that the handout indicates the word "blank" if the PYA attribute is not applicable to that particular USSGL account. On the official USSGL crosswalks and the FACTS II Attribute Table, the cell will be empty to indicate that the attribute is not applicable.

Teresa has a list of agencies that have committed to officially restating any beginning balance that does not agree to the agency's ending balance from the previous year. OMB is looking closely at what activity is flowing through the current year. There should not be negative balances for Indefinite Borrowing Authority.

Karen reviewed PYA related changes to the FMS 2108 and the new footnote #8. She explained that although the PYA attribute was established in support of the new SF 133 reporting requirements, it also will be crosswalked to the FMS 2108. This will aid Treasury in the preparation of the Treasury Combined Statement.

Kathy reviewed PYA related changes to the SF 133 and several changes to the footnotes. A correction to the handout was mentioned for line 9B1, "Balance, Current Available," that indicated PYA domain values for USSGL account 4620, "Unobligated Funds Exempt From Apportionment," should be blank. She also mentioned a non-PYA related correction to the crosswalk for line 1A. For USSGL accounts 4394, "Receipts Unavailable for Obligation Upon Collection," 4397, "Receipts and Appropriations Temporarily Precluded From Obligation," and 4398, "Offsetting Collections Temporarily Precluded From Obligation," the attribute "TAFS Status" domain values "U/E" have been changed to "U".

Michele reviewed the Fiscal 2008 USSGL Account Attributes Required for FACTS II Reporting of Detailed Financial Information handout for attribute PYA. She mentioned that the current crosswalk will provide only domain value "Y" if a value is required. A more specific display is provided on the handout Karen discussed earlier. Michele also noted the following non-PYA related changes:

  • The USSGL account 1620, "Investments in Securities Other Than the Bureau of the Public Debt Securities," was missing a "Y" in attribute "Trans_Partner."

    AND

  • The domain values for attributes "Year_of_BA" and "BEA_Cat" in USSGL account 4801, "Undelivered Orders - Obligations, Unpaid," were removed.

Teresa mentioned that there will be a soft edit (Edit #13) in FACTS II for first quarter 2008 reporting. This edit compares the agency's prior-year closing balance with the opening balance. If they do not agree, the agency is encouraged to follow-up with their budget examiners.

Michele reviewed changes on the USSGL Crosswalk - Statement of Change in Net Position for Fiscal 2008 Reporting (SCNP) handout. Line 7, "Donations and Forfeitures of Cash and Cash Equivalents," Line 10, "Donations and Forfeitures of Property," and Line 13, "Other," for USSGL accounts 5900, "Other Revenue," and 5909, "Contra Revenue for Other Revenue," will have the domain value "A" for attribute "custodial/noncustodial."

CLOSING REMARKS

Judy thanked the committee for attending and adjourned the meeting.

ATTENDEES:

Judy Yuran, FMS
Kathy Winchester, FMS
Karen Metler, FMS
Michele Crisman, FMS
Melinda Pope, FMS
Karl Foltz, FMS
Keith Mertz, FMS
Gwendolen Marshman, FMS
Rita Cronley, FMS/BRD
Teresa Tancre, OMB
Kevin Dugas, DOT
Tim Clower, Treasury
Dan Smith, PTO
Maryla Engelking, DOD
Tesfaye Wyes, DOC
Cassandra Holman, GSA
Carl Gayton, HUD
Gregory Parker, HUD
Shashi Patel, NSF
Kathy Sherrill, DOD
Michael Swanchara, GSA
David Surti, DHS
Yen Le, State
Paul Deuley, BPD
Jackie Pettit, BPD


   Last Updated:  March 14, 2014