TFM Bulletin Page

Bulletin No. 2008-02
Volume I

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Retention: October 31, 2008

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

Subject: Yearend Proprietary Reporting of Government Account Series (GAS) Investments With the Bureau of the Public Debt Purchased by Agencies Using Deposit Fund Monies

1. Purpose

This Treasury Financial Manual (TFM) bulletin revises the Governmentwide Financial Report System (GFRS) fiscal 2007 requirements for the reporting of GAS investments purchased by agencies using deposit fund monies.

2. Applicability

The provisions of this bulletin are limited to agencies that meet all of the following criteria:

• The agency is a verifying agency (see TFM Volume I, Part 2, Chapter 4700, Figure 1, for a listing of verifying agencies).
  
  
• The agency uses deposit fund monies to invest in GAS.
  
  AND
  
  
• The Bureau of the Public Debt records these GAS securities as public.

3. GFRS Reporting

Investment in GAS
Reclassify the deposit fund investments in GAS to the Closing Package Federal line titled "Federal Investments" identified in TFM Volume I, Part 2, Chapter 4700, Appendix 1. Identify this amount using trading partner code "9900" in the Federal Trading Partner Note.

Liability to the Public
Reclassify the liability with the public related to GAS investments by deposit funds to the Closing Package Federal line titled "Other liabilities (without reciprocals)" identified in TFM Volume I, Part 2, Chapter 4700, Appendix 1. Identify this amount using trading partner code "9900" in the Federal Trading Partner Note.

Revenue Earned from Deposit Fund Investments
Reclassify the revenue from earnings on deposit fund investments in GAS that the Federal Government is authorized to keep to the Closing Package Federal line titled "Federal securities interest revenue" identified in TFM Volume I, Part 2, Chapter 4700, Appendix 1. Identify this amount using trading partner code "2000" in the Federal Trading Partner Note.

Note: Agencies should not recognize revenue from earnings on deposit fund investments in GAS unless authorized to do so.

4. Quarterly Intragovernmental Reporting

Continue to account for the GAS investments purchased using deposit fund monies according to the Intragovernmental Business Rules issued through TFM Volume I Bulletin No. 2007-03.

5. Effective Date

This bulletin is effective immediately.

6. Inquiries

Financial Reports Division
Financial and Budget Reports Directorate
Governmentwide Accounting
Financial Management Service
Department of the Treasury
3700 East-West Highway, Room 509B
Hyattsville, MD 20782
Telephone: 202-874-9910

Kenneth R. Papaj
Commissioner
Date: October 9, 2007