Treasury Managed Accounts

Interest on Uninvested Funds

• Description
• Agency Responsibility
• Confirmation Form
• Schedule
• Quarterly Variance Analysis (Coming Soon)

Description:

The Credit Reform: Interest on Uninvested Funds account 20X1880 was established pursuant to the Federal Credit Reform Act of 1990, which was intended to more accurately measure the costs of Federal credit programs. Agencies who borrow from Treasury are required to calculate their own interest income and expense. The payment interest expense to Treasury is handled in Treasury-Bureau of Public Debt. Interest income calculated by the agencies to receive payment from Treasury is handled in FMS-Credit Accounting Branch.

Agency Responsibility:

On a quarterly basis, the Financial Management Services (FMS) will post the balance by the agency for account 20X1880 to this Web site. Agencies have 14 working days from the end of the quarter to respond back to Treasury, FMS via fax (202) 874-7900, or email at credit.accounting@fms.treas.gov regarding the accuracy of the amounts recorded by Treasury, FMS.

The agency must provide supporting documentation (IPAC) for any changes they want made to the balances posted. The agencies should contact FMS at the above email address or call (202) 874-8740 to request more detailed support for the FMS balances.

Agencies should report their quarterly accruals on the confirmation form.

Confirmation Form
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When confirming your balance:

• Complete the Receiving Department portion of the form with your information
• Include the FMS balances provided on this Web site in the Providing Agency amount block of the form
• Explain any differences between your balance and the FMS balances.
• Please sign the completed form

When completed, please fax an advance copy, and mail the official signed confirmation and a cover letter to

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Note: Agency balance represents the FY2009 Intragovernmental Payment and Collections (IPACs) received by FMS.

^ Represents FY2009 Payables.