FACTS II is a financing management system used to collect budget execution data required by the SF 133: Report on Budget Execution (a quarterly report that contains information on the sources of budget authority and the status of budgetary resources by individual fund or appropriation), the FMS 2108: Year-End Closing Statement (an annual report that contains year-end fund resources, uses, and unobligated balances by individual appropriation or fund) and much of the initial set of data for the Program and Financing (P & F) Schedule – prior year column.
Major topics include:
In-depth discussion of the SGL as it relates to FACTS II
Budgetary Accounts, Fund Balance w/Treasury and Investments
FMS 2108 Year-End Closing Statement and SF 133 Report on Budget Execution (How these reports are generated)
FACTS II system requirements and edits (agency implementation example)
Auditing FACTS II information
Who should attend:
Accountants working at the operational and transactional level including preparers and reviewers; Auditors of year-end reports, financing statements, and budget reports; and Budget Analysts responsible for the formulation and execution of agency budget reports.
Prerequisites:
Participants must have knowledge of:
Basic Governmental Accounting
U.S. Standard General Ledger (SGL) accounts related to the FMS 2108 and the SF 133
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