Governmentwide Financial Report System (GFRS)
GFRS is Oracle based internet application designed to collect the Federal Program Agencies (FPAs) closing package information. The closing package is a set of special purpose financial statements that represents the FPAs' comparative, audited consolidated, department-level financial statements and is used to prepare the Financial Report of the United States (FR). The primary purpose of this process is to present a comprehensive report on the Government’s financial position as well as defining a mechanism that assist with resolving material deficiencies identified by the Government Accountability Office (GAO).
Federal Agencies' Centralized Trial-Balance System (FACTS I)
FACTS I is a system that collects agency pre-closing adjusted trial balances at the fund group level using the U. S. Standard General Ledger (USSGL) accounts in a numerical order with the required attributes. The attributes are modifiers that further describe a USSGL account in order to meet a specific reporting requirement in the preparation of the FR.
Intragovernmental Fiduciary Confirmation System (IFCS)
IFCS is the official confirmation system for FPAs that engage in fiduciary intragovernmental transactions. FPAs are required to confirm and reconcile the following fiduciary transactions: Investment with the Bureau of the Public Debt (BPD), Borrowings from BPD or the Federal Financing Bank, Federal Employees’ Compensation Act transactions with the Department of Labor, and Employee Benefit Program transactions with the Office of Personnel Management.
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