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This Treasury Financial Manual (TFM) bulletin informs agencies of a budgetary presentation change affecting receipt sources categorized as gifts and donations. Effective December 2009, for budgetary and financial reporting, agencies should no longer classify gifts and donations as governmental receipts (also referred to as "budgetary receipts"). Instead, agencies should classify gifts and donations as proprietary receipts from the public. See the attachment (Active and Inactive "Gift and Donation" Receipt Accounts) for the complete list of accounts for active and closed Treasury Account Symbols impacted by this change.
The Financial Management Service (FMS) and the Office of Management and Budget (OMB) consider gifts and donations to be voluntary contributions. Therefore, FMS, in collaboration with OMB and with the concurrence of congressional scorekeepers, has determined that receipts categorized as gifts and donations would be more appropriately classified as offsetting receipts or offsetting collections, as opposed to revenue payments.
According to 31 U.S.C. 3513, the Secretary of the Treasury must prepare reports on the financial operations of the U.S. Government. In addition, the head of each executive agency must furnish reports and information on the financial condition and operations of the agency, if requested by the Secretary of the Treasury.
The changes outlined in this TFM bulletin will be reflected in financial reporting beginning with the accounting month of December 2009 (released in January 2010). Consequently, Federal Program Agencies may require updates to internal systematic processes to prepare for the December 2009 reporting requirement.
Agencies can refer to the Monthly Treasury Statement (MTS), Table 5-Outlays of the U.S. Government, Proprietary Receipts From the Public, to see receipts for respective agencies. To reference the MTS online, see the Web site at http://www.fms.treas.gov/mts/index.html.
Agencies must include proprietary receipts from the public on the Statement of Budgetary Resources (SBR). OMB Circular No. A-136, "Financial Reporting Requirements," requires that agencies include agency level distributed offsetting receipts on line 19C of the SBR. The amount of distributed offsetting receipts reported on this statement should be the aggregate of cash collected to include proprietary receipts collected and reported to Treasury monthly on the following forms:
Also, agencies may reference the Quarterly Distributed Offsetting Receipts by Department Report (http://www.fms.treas.gov/mts/receipts-by-dept.html). This report provides detailed information for transactions reported on the Statement of Transactions (FMS 224, FMS 1220, and SF 1221) for distributed offsetting receipts reflected in the MTS. Agencies can use this report as an additional tool to assist with identifying and resolving differences in monthly budgetary reporting and the distributed offsetting receipts found on line 19C of the SBR.
This bulletin is effective in December 2009.
Direct inquires concerning this bulletin to:
Budget Reports Division
Financial and Budget Reports Directorate
Governmentwide Accounting
Financial Management Service
Department of the Treasury
3700 East-West Highway, Room 515C
Attn: Derek Tinsley
Hyattsville, MD 20782
Telephone: 202-874-9883
Fax: 202-874-9966
E-mail: budget.reports@fms.treas.gov
David A. Lebryk
Commissioner
Date: September 14, 2009
The attachment is available in the PDF version only.