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

January 31, 2008

GENERAL ITEMS:

Michele Crisman (FMS) opened the meeting by reviewing the agenda and introductions were made.

HANDOUTS:

  • Section III - Multiline Project Index (Draft, dated January 31, 2008)

  • Section III - Multiline Project (Draft, dated January 31, 2008)

  • Section IV - Multiline Project (Draft, dated January 31, 2008)

  • USSGL Accounts That Crosswalk to Multiple Lines on a Statement (Draft, dated January 31, 2008)

  • Draft, USSGL Accounts Crosswalked to Multiple Lines, dated January 31, 2008

AGENDA ITEMS:

Gwen Marshman (FMS) reviewed proposed and modified USSGL account definitions on the USSGL Accounts That Crosswalk to Multiple Lines on a Statement handout. The following changes were discussed:

  • Changed the normal balance to "Debit" for USSGL accounts 1361, "Penalties, Fines, and Administrative Fees Receivable - Taxes," and 1362, "Penalties, Fines, and Administrative Fees Receivable - Loans."

  • Deleted the last sentence, "This account excludes . . ." from USSGL account 1367, "Allowance for Loss on Penalties, Fines, and Administrative Fees Receivable - Loans."

  • Changed the normal balance to "Debit" for USSGL accounts 5830, "Contra Revenue for Taxes - Not Otherwise Classified"; 5831, "Contra Revenue for Taxes - Individual"; 5832, "Contra Revenue for Taxes - Corporate"; 5833, "Contra Revenue for Taxes - Unemployment"; 5834, "Contra Revenue for Taxes - Excise"; 5835, "Contra Revenue for Taxes - Estate and Gift"; and 5836, "Contra Revenue for Taxes - Customs."

  • Reviewed the last sentence of the definition to determine if any of it relates to tax revenue for USSGL account 5836, "Contra Revenue for Taxes - Customs."

The IRC discussed whether penalties, fines, and administrative fees receivable should be identified separately for the nonexchange and exchange portions of the receivables. The IRC decided to break out administrative fees from USSGL accounts 1360, "Penalties, Fines, and Administrative Fees Receivable - Not Otherwise Classified"; 1361, "Penalties, Fines, and Administrative Fees Receivable - Taxes"; 1362, "Penalties, Fines, and Administrative Fees Receivable - Loans"; 1365, "Allowance for Loss on Penalties, Fines, and Administrative Fees Receivable - Not Otherwise Classified"; 1366, "Allowance for Loss on Penalties, Fines, and Administrative Fees Receivable - Taxes"; and 1367, "Allowance for Loss on Penalties, Fines, and Administrative Fees Receivable - Loans." New USSGL accounts will be established for corresponding administrative fees in the USSGL account 1370 series. There was some discussion as to whether penalties and fines from loans are collected. Judy Yuran (FMS) asked if there were any agencies that collected penalties and fines from loans. Jacqueline Harvey (FCC) stated that they did. Judy mentioned that the USSGL will address related penalties, fines, and administrative fees revenue at a later time.

The new tax accounts 5800, 5820, and 5830 series will separately identify different types of taxes. The proposed USSGL accounts are for fiscal 2009 implementation. Under the Governmentwide Treasury Account Symbol and Automated Trial-Balance System (GTAS), the optional method provided in the current USSGL crosswalks will no longer be available.

Michele Crisman (FMS) reviewed the transactions in the Section III - Multiline Project handout. The discussion included the following comments and changes:

  • Transaction Code (TC) A188 - The IRC discussed the new tax revenue collected accounts added to the transaction. This transaction is recorded by nonrevolving trust funds and special funds. The IRC discussed whether agencies will be able to split out tax revenue collected into the individual types, or if only collecting agencies, such as the IRS, do this. The IRC agency representatives will check on this issue.

  • TC A195 - Bruce Henshell (Commerce) wanted to know if TC A195 should include corresponding allowance accounts. The IRC decided that allowance accounts are not needed because the preferable writeoff method for receivables is the allowance method. Under the allowance method, the allowances are adjusted periodically from estimated percentages based on analysis of aging receivables. Therefore, allowance accounts are not needed in this transaction.

  • TC B118 - The budgetary entries in this transaction will be revisited. Tax refunds paid by the IRS are from a permanent indefinite fund and, therefore, are recorded as an outlay, not as a reduction of offsetting collections.

  • TC B402 - The budgetary entries in this transaction will be revisited. Permanent Indefinite Authority criteria have to be met before budgetary resources can be obligated.

  • TC B420 - Deleted credit to USSGL account 2190, "Other Liability for Subsidy Payable to the Financing Account."

  • TC B440 - Deleted debit to USSGL account 2141, "Accrued Interest Payables - Securities Issued by Federal Agencies Under General and Special Financing Authority."

  • TC C416 - Added "previously anticipated" in the description after "To record accrued revenue. . ." Deleted USSGL account 1350, "Loans Receivable," and added the new related administrative fees receivable in the USSGL account 1370 series.

  • TC C420 - IRC members suggested that the credit reform element of this transaction should be removed and a separate new transaction should be established. Therefore, debit to USSGL account 1310, "Accounts Receivable," and credit to USSGL account 5775, "Nonbudgetary Financing Sources Transferred In," should be removed. Judy stated that the USSGL staff will research other credit reform transactions and will make a determination accordingly.

  • TC C422 - Added new administrative fees account 1370 series to "Debit" and replaced the USSGL account 5800 series to the USSGL account 5820 series.

Michele ended the IRC meeting.

CLOSING REMARKS:

Judy thanked everyone and closed the meeting.

ATTENDEES:

Judy Yuran, FMS
Kathy Winchester, FMS
Michele Crisman, FMS
Karen Metler, FMS
Christine Chang, FMS
Keith Mertz, FMS
Melinda Pope, FMS
Gwen Marshman, FMS
Karl Foltz, FMS
Ben Sussman, FMS
Mike Plutkis, FMS
Patrice Cousins, NSF
Dan Smith, PTO
Kathy Sherrill, DOD
Alice Rice, DOD
Eileen Parlow, FASAB
Yong Sun, FHA
Lise Trumbull, GSA
Michael Ward, GSA
Vernon Johnson, DOJ
Kim Williams, DOJ
Deborah Mattingle, Ed
Kristina Poist, SSA
Jeff Carr, DOE
Jenny Smith, HHS
Michael Brezorec, NRC
Teresa Lamkin, DOT
Drena McDaniel, DOT
Janet Winchester, VA
Michele Murphy, VA
Yen Le, State
Irene Hall, NASA
Jacqueline Harvey, FCC
Marilyn Evans, DHS
Cindy Scharf, LOC
Bruce Henshel, DOC
Webster Coleman, DOL


   Last Updated:  March 14, 2014