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U.S. Government Standard General Ledger Issues Resolution Committee (IRC) Meeting Minutes

August 20, 2009

GENERAL ITEMS:

The meeting was held at the Government Accountability Office, 441 G Street, NW., Room 7B15 (Campbell Room), Washington, D.C.

Melinda Pope (FMS) opened the USSGL Board and IRC meeting and introductions were made. She said that discussions would begin with the Program and Financing (P&F) Fund Crosswalk, the Statement of Net Cost (SNC) Crosswalk, and the nonfiduciary deposit funds, as well as other issues related to deposit funds.

HANDOUTS:

  • Draft Deposit Funds - Accounting for Market Based Securities, IRC Handout, dated August 20, 2009

  • Draft USSGL by Fund Type, IRC Handout, dated August 20, 2009

  • Proposed USSGL Crosswalk - Budget Program and Financing (P&F) Schedule Prior-Year Actual Column for Fiscal 2009 Reporting, dated August 19, 2009

  • Proposed USSGL Crosswalk - Statement of Net Cost for 2010 Reporting, IRC Handout, dated August 20, 2009

  • TFM Volume I, Part 2, Chapter 4700 (Transmittal Letter No. 650): "Agency Reporting Requirements for the Financial Report of the United States Government," subsection 4705.208

  • Draft Nonfiduciary Deposit Fund Trial Balance Tie-Points, dated August 20, 2009

AGENDA ITEMS:

Sherry Pontell (FMS) discussed recent changes to the P&F, as outlined in the P&F handout. Lines 2343 and 9307 are being added in accordance with Office of Management and Budget (OMB) Circular No. A-11. The corrections to lines 6047 and 6710 were made pertaining to the Black Lung Trust Fund.

Karl Foltz (FMS) stated that the footnotes in the Additional Information column on the SNC for fiscal 2010 will be modified, as outlined in the handout. As a result of discussions and agreements made in a previous meeting, Melinda noted that the footnotes for production and nonproduction have been deleted. In addition, Melinda stated that because of GFRS requirements the USSGL staff may propose a change for footnote number 4, Costs Not Assigned to Programs. This change will become effective in fiscal 2011 and will include a proposal to add a new attribute titled: "Program Cost Indicator." The attribute domain values will be separated into costs assigned to programs and costs not assigned to programs.

Michele Crisman (FMS) said that deposit fund transactions are being reviewed to determine the correct accounting for the on-going tie-point project. Assumptions include the following:

  • Nonfiduciary deposit funds should report only USSGL account 1010, "Fund Balance With Treasury"; USSGL account 2400, "Liability for Nonfiduciary Deposit Funds, Clearing Accounts, and Undeposited Collections"; USSGL account 1610, "Investments in U.S. Treasury Securities Issued by the Bureau of the Public Debt"; and related premium and discount accounts when applicable. Nonfiduciary deposit funds should not report cumulative results of operations unless the agency can keep the funds.

  • Fiduciary deposit funds, which allow the agency to keep the funds, should include the reporting of revenue.

After some discussion on the two types of deposit funds, it was decided to do further research and to continue the discussion at a future meeting. In the interim, the USSGL staff will review the FACTS I listing to determine the number of funds and the dollar amount of fiduciary and nonfiduciary deposit funds reported to FMS. The meeting participants who have deposit funds agreed to review their funds and to provide any additional information at the next scheduled meeting or to contact the USSGL staff in the interim.

Melinda addressed a question concerning search capabilities on the USSGL Web site. She noted that the fiscal 2009 search capability is currently functioning. In addition, the USSGL staff members have been working on the fiscal 2010 search capability and they are reasonably confident that it will be functioning by the next TFM release at the end of this month.

CLOSING REMARKS:

Melinda closed the meeting and said that the agenda for the next meeting will include a discussion on new USSGL accounts for the TARP program and a scenario for the General Services Administration.

ATTENDEES:

Michele Crisman, FMS
Sherry Pontell, FMS
Melinda Pope, FMS
Karl Foltz, FMS
Michele Murphy, VA
Boris Lyubovitsky, USDA
Anissa Davis.DOJ
Drena McDaniel, DOT
Eileen Parlow, FASAB
Josh Koontz, SSA
Matt Trusch, SSA
Julie Callahan, NASA
Yong Sun, HUD
David Surti, DHS
Carol Gower, State
Ava Lun, FMS
Bethany Williams, Energy
Junghee Gogue, SSA
Letha Holliday, SSA
Ana Labadour, SSA
Paul Webster, SSA
Judy Twitty, SSA
Barbara Harbell, Energy


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