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

January 25, 2007

GENERAL ITEMS:

Judy Yuran (FMS) opened the meeting by noting that we would be discussing the Special Fund Trial Balance Tie-Points - Draft.

HANDOUTS:

  • Special Fund Trial Balance Tie-Points - Draft

  • Special Fund Supplemental Trial Balance Tie-Points - Draft

  • Special Fund Trial Balance Tie-Points Exception List - Draft

  • Trust Fund Trial Balance Tie-Points - Draft

AGENDA ITEMS:

Michele Crisman (FMS) began the meeting by announcing that USSGL account 4126, "Amounts Appropriated From Specific Invested TAFS-Receivable" will be added to Tie-Point 9. This is the result of a discussion in a previous IRC meeting on tie-points.

Michele continued with a discussion of Tie-Point 2A. A suggestion was made to delete USSGL account 1613, "Amortization of Discount and Premium on U.S. Treasury Securities Issued by the Bureau of the Public Debt" since it does not have a budgetary impact. Judy agreed that the account would be removed and placed on an exception list and noted that it is valid for the Department of Defense only. Also, USSGL account 1623, "Amortization of Discount and Premium on Securities Other than the Bureau of the Public Debt Securities" will be deleted.

Teresa Tancre (OMB) suggested that when only one fund in the Federal Government is reporting to a specific USSGL account then that account should be placed on the Tie-Point Exception List. The group agreed with this suggestion.

The following additional tie-points were discussed:

Tie-Point 11

After some discussion Supplemental Tie-Point number 11 was expanded to include 11A Direct Method and 11B Indirect Method. In addition, the title was changed to read, "Appropriations Derived From the General Fund of Treasury Budgetary Equals General Fund Appropriation Received Proprietary." The supplemental Tie-Point 11A equation will be USSGL account 4119, "Other Appropriations Realized" equals USSGL account 3101, "Unexpended Appropriations - Appropriations Received."

Tie-Point 11B will include the following USSGL accounts:

  • 4114, "Appropriated Trust or Special Fund Receipts";

  • 4119, "Other Appropriations Realized";

  • 4123, "Amounts Appropriated From Specific Invested TAFS Reclassified - Receivable - Temporary Reduction/Cancellation";

  • 4124, "Amounts Appropriated From Specific Invested TAFS Reclassified - Payable - Temporary Reduction/Cancellation";

  • 4128, "Amounts Appropriated From Specific TAFS - Transfers-In";

  • 4129, "Amounts Appropriated From Specific TAFS - Transfers-Out";

  • 4138, "Appropriations To Liquidate Contract Authority";

  • 4384, "Temporary Reduction/Cancellation Returned by Appropriation";

    AND

  • 4394, "Receipts Unavailable for Obligation Upon Collection" less valid reconciling items.

USSGL accounts:

  • 4114, "Appropriated Trust or Special Fund Receipts";

  • 4123, "Amounts Appropriated From Specific Invested TAFS Reclassified - Receivable - Temporary Reduction/Cancellation";

  • 4124, "Amounts Appropriated From Specific Invested TAFS Reclassified - Payable - Temporary Reduction/Cancellation";

  • 4128, "Amounts Appropriated From Specific Invested TAFS - Transfers-In";

  • 4129, "Amounts Appropriated From Specific Invested TAFS - Transfers-Out";

  • 4138, "Appropriation To Liquidate Contract Authority";

  • 4384, "Temporary Reduction/Cancellation Returned by Appropriation";

  • 4394, "Receipts Unavailable for Obligation Upon Collection";

Equal

  • 3101, "Unexpended Appropriations- Appropriations Received."

Tie-Point 12

Tie-Point 12 was discussed and will have the following changes: USSGL accounts 6190, "Contra Bad Debt Expense- Incurred for Others," 6310, "Interest Expenses on Borrowing From the Bureau of the Public Debt and/or the Federal Financing Bank," and 6500, "Cost of Goods Sold" will be deleted from the Draft- IRC working document.

Tie-Point 14

A suggestion was made and adopted to modify the format for Tie-Point 14 by adding a minus sign to the Account Number column (second column) and adding an equal sign to the Difference column (third column). This change is intended to further clarify that the tie-point reads across not down. In addition, the following USSGL accounts were deleted:

  • 1090, "Fund Balance With Treasury Under a Continuing Resolution";

  • 1350, "Loans Receivable";

  • 1359, "Allowance for Loss on Loans Receivable";

  • 1531, "Seized Monetary Instruments";

  • 1532, "Seized Cash Deposited";

  • 2530, "Securities Issued by Federal Agencies Under General and Special Financing Authority";

  • 2531, "Discount on Securities Issued by Federal Agencies Under General and Special Financing Authority";

    AND

  • 2540 "Participation Certificates."

Tie-Point 15

The note for Tie-Point 15 was modified to read: These accounts are closing accounts only.

Judy adjourned the meeting by stating that we will begin discussion of the Trust Fund Trial Balance Tie-Points at the next meeting.

ATTENDEES:

Judy Yuran, FMS
Karen Metler, FMS
Karl Foltz, FMS
Michele Crisman, FMS
Rita Cronley, FMS
Teresa Tancre, OMB
Lisa Trumbull, GSA
Catherine Irani, GSA
Letha Holiday, SSA
Junghee Gogue, SSA
Eileen Parlow, FASAB
Kevin Dugas, DOT
Cindy Scharf, LOC
Yong Sun, HUD
Geneva Jones, HHS
Shasi Patel, NSF
Patrice Cousins, NSF
Thao Cicala, PTO
Parker Hill, DOI
Yen Le, State
Halpern Jeni, USDA
Leon Fleischer, SBA
Webster Coleman, DOL
Barbara Harbell, DOE
Maureen Wheeler, FMS/AS
David Surti, USDA
Christine Kent, OPM
Kim Williams, DOJ


   Last Updated:  March 14, 2014