TFM Volume VI

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Volume VI is the official publication through which the Department of the Treasury’s (Treasury’s) Financial Management Service (FMS) issues codified instructions for depositaries outside the United States (overseas depositaries).

Section 1010—Introduction

The TFM is Treasury’s official publication for financial accounting and reporting of all receipts and disbursements of the Federal Government. FMS issues the TFM to provide policies, procedures, and instructions for Federal departments and agencies, Federal Reserve Banks (FRBs), and other concerned parties to follow in carrying out their fiscal responsibilities.

Volume VI instructs and guides depositaries outside the United States, U.S. Territories, and insular possessions (overseas depositaries).

Section 1015—Authority

Title 31 U.S.C. 3303 authorizes the Secretary of the Treasury to designate depositaries of public moneys, as necessary, for transacting Government business in foreign countries and U.S. Territories and insular possessions.

Section 1020—Types of TFM Releases

The TFM is comprised of the following types of releases:

• Chapters (often accompanied by appendices);
  
  
• Bulletins;
  
  
• Announcements;
  
  AND
  
  
• Supplements.

1020.10—Chapters

TFM chapters:

• Are released by transmittal letters with the FMS Commissioner’s signature;
  
  
• Cover a specific subject;
  
  
• Include a summary paragraph explaining the purpose of the chapter;
  
  AND
  
  
• Update or provide procedures and information based on changes to systems or applicable laws.

The first chapter of each volume describes the makeup of that volume, the procedures covered, and other included material.

Users may access TFM Volume VI chapters on the following Web sites:

• By part and chapter number at http://www.fms.treas.gov/tfm/vol6/index.html;
  
  AND
  
  
• By transmittal letter number at http://www.fms.treas.gov/tfm/vol6/tl.html.

1020.10a—Transmittal Letters

Transmittal letters:

• Are sequentially numbered;
  
  
• Release new and revised chapters;
  
  
• Summarize new and/or revised material;
  
  
• Provide instructions for the addition or substitution of material;
  
  
• List regulations or published instructions that are superseded or rescinded;
  
  AND
  
  
• Are released with the FMS Commissioner’s signature.

See the TFM transmittal letter Web site at http://www.fms.treas.gov/tfm/vol6/tl.html.

1020.10b—Contacts Page

The Contacts page of each chapter directs users to the organization(s) responsible for the technical content of the chapter. The first contact is the area with ownership responsible for the chapter. If the chapter contains specific or technical material relating to other areas, the Contacts page also includes the contact information for those areas.

For questions regarding a TFM chapter, users should contact the responsible area listed on the Contacts page.

1020.10c—Appendices

TFM chapters can include appendices. These appendices generally contain forms, charts, instructions, or additional information helpful in implementing chapter procedures. A chapter with more than one appendix has an “Appendices Listing” page that lists the appendices in numerical order.

1020.20—Bulletins

TFM bulletins:

• Are numbered sequentially by the fiscal year of issue (for example, TFM Volume VI, Bulletin No. 2012-01, refers to the first bulletin released in fiscal 2012);
  
  
• Have retention dates that prescribe the bulletin’s anticipated retention period;
  
  
• Provide notice of immediately effective changes to instructions or requirements that, usually, are later codified into a TFM chapter;
  
  
• List superseded or rescinded material;
  
  AND
  
  
• Are released with the FMS Commissioner’s signature.

At the beginning of each fiscal year, FMS issues a Retention Bulletin for TFM volumes that have bulletins and chapters released or rescinded in the prior fiscal year.

Users may access TFM Volume VI bulletins on the Web site at http://www.fms.treas.gov/tfm/ vol6/bull.html.

1020.20a—Inquiries

Each bulletin includes an inquiries paragraph that lists the area with ownership responsibility for the bulletin. For questions regarding a TFM Volume VI bulletin, users should contact the responsible area listed in the Inquiries paragraph.

1020.20b—Attachments

Bulletins can include attachments. These attachments generally contain forms, charts, or additional instructions.

1020.30—Announcements

TFM announcements:

• Are identified with an “A” and are numbered sequentially by the fiscal year of issue (for example, A-2012-01 refers to the first announcement released in fiscal 2012);
  
  
• Contain information of a one-time, temporary nature, such as conference and training schedules, special events, or opening and closing dates for reporting requirements;
  
  
• Generally are not codified into a TFM chapter;
  
  
• Include the contact information for the responsible area.

Users may access TFM announcements on the Web site at http://www.fms.treas.gov/tfm/vol6/announce.html.

For questions regarding a TFM announcement, users should contact the responsible area listed in the Inquiries paragraph.

1020.40—Supplements

TFM supplements include detailed instructions, worksheets, and guidelines for financial reporting and accounting procedures. They are extensions of the TFM. Supplements cover such areas as cash management, credit administration, and the U.S. Government Standard General Ledger.

Users also may access TFM supplements on the Web site at http://www.fms.treas.gov/tfm/vol1/supp.html.

Section 1025—Forms

1025.10a—Electronic Forms

In compliance with the Government Paperwork Elimination Act requirement that Federal agencies provide electronic options for transactions with Government, FMS has done the following:

• Created electronic formats for data submissions to and transactions with Treasury.
  
  
• Supported a business environment where electronic processes are becoming more common.

FMS has developed a Web site at http://www.fms.treas.gov/forms.html that includes some FMS-produced forms to support products and services. Unless exempted by law or FMS, all departments and agencies use standard accounting and reporting forms and related procedures, including those the Government Accountability Office has prescribed.

1025.10b—TFM Forms

The following forms are used for TFM release updates, new TFM releases, TFM release certification, and TFM release rescission:

• FMS 481: TFM Release Initiation, Clearance, and Approval—The FMS 481 is used to initiate a TFM release update and to document the final clearance and approval.
  
  
• FMS 7034: TFM Release Certification—The FMS 7034 is used to certify the currency of TFM releases that are 2 years old or older.
  
  
• FMS 485: TFM Request To Rescind (Without Revision or Replacement)—The FMS 485 is used to rescind a TFM release.

Section 1030—Subject Matter Expert Contact Information

TFM releases include subject matter expert contact information on the “Contacts” page for chapters, or in the “Inquiries” paragraph for bulletins and announcements. TFM users should contact the subject matter expert, per the point of contact information, for questions concerning the TFM release content or for further assistance.

Section 1035—AC Area TFM Coordinators

AC Area TFM Coordinators are the primary points of contact within each FMS AC area for TFM releases. They coordinate TFM release updates, certifications, and rescissions; and the publication of new TFM releases.

Section 1040—TFM Staff Members

The TFM staff members edit, rewrite, and format TFM releases. In addition, they maintain the TFM Web site. They are not subject matter experts on the information or guidance presented in TFM releases.

Section 1045—Subscribing to the Automatic Email Notification for TFM Updates

Users may subscribe to the automatic email notification system for TFM updates at the following link: http://fms.treas.gov/scripts/subscription. The automatic email notifies users of a TFM update and also provides a link to the updated TFM release.

Direct inquiries concerning this chapter to:

TFM Staff
U.S. Standard General Ledger Advisory Division
Governmentwide Accounting
Financial Management Service
Department of the Treasury
3700 East-West Highway, Room 221A
Washington, DC 20782
Email: tfm@fms.treas.gov

Transmittal Letter No. 7

Volume VI

To: Overseas Depositaries

1. Purpose

This transmittal letter releases revised TFM Volume VI, Part 1, Chapter 1000: Purpose and Plan of Volume VI of the Treasury Financial Manual (TFM). Volume VI is the official publication through which the Department of the Treasury’s Financial Management Service issues codified instructions for depositaries outside the United States (overseas depositaries).

2. Page Changes

3. Effective Date

This transmittal letter is effective immediately.

4. Inquiries

Direct questions concerning this transmittal letter to the TFM staff members via email to tfm@fms.treas.gov.

David A. Lebryk
Commissioner
Date: March 30, 2012