TFM Bulletin Page

Bulletin No. 2003-08
Volume I

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Retention: September 30, 2003

To: Heads of Government Departments, Agencies, and Others Concerned

Subject: Cutoff Date for Electronically Processing the Interest on Uninvested Funds

1. Purpose

This Treasury Financial Manual (TFM) bulletin provides agencies with the cutoff date and the electronic reporting requirements for processing the interest on uninvested funds. In addition, it informs agencies that the Department of the Treasury's (Treasury's) Financial Management Service (FMS) will no longer accept paper copies of the SF 1081: Voucher and Schedule of Withdrawals and Credits.

2. Authority

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.

3. Accounting and Reporting Requirements

By September 30, agencies must do the following:

• Submit, electronically, fiscal year information for processing interest on uninvested funds to Treasury's FMS, Credit Accounting Branch (CAB), via the Intra-governmental Payment and Collection System (IPAC).
• Provide CAB with documentation to support the balance reported on the agency's IPAC submission. This documentation also must include computations the agency used to calculate the interest amount due from the Treasury.
• Report the interest amount to the appropriate Treasury Appropriation Fund Symbol (TAFS) on the SF 224: Statement of Transactions. FMS will report the Treasury's amount to TAFS 20X1880.
• Notify CAB, in advance, via the e-mail address in paragraph 6, when the transaction amount is $100,000 or greater.

FMS will provide agencies with any changes to the required cutoff dates for yearend processing in the 2003 Yearend Closing Bulletin.

4. Rescission

This bulletin rescinds guidance issued in I TFM 2-4600, Section 4640.

5. Effective Date

Immediately.

6. Inquiries

Direct questions concerning this bulletin to:

Credit Accounting Branch
Financial Management Service
Department of the Treasury
3700 East-West Highway, Room 6D25
Hyattsville, MD 20782
Telephone: 202-874-8740
Fax: 202-874-7900
E-mail Address: credit.accounting@fms.treas.gov

Date: June 4, 2003
Richard L. Gregg
Commissioner