U.S. Government Standard General Ledger Board and
Issues Resolution Committee Meeting Minutes

March 27, 2003

GENERAL ITEMS

Judy Yuran (FMS) opened the meeting and introductions were made. Judy indicated that comments on the OMB Super Circular (SC) draft are crucial. OMB requested comments "by the end of March", but gave no deadline date. Those in attendance are taking that to mean March 31, 2003. Most agencies have already submitted comments, with the remainder planning to send them to OMB within a day or two.

HANDOUTS

• Draft Proposed New USSGL Accounts
• Draft Federal Intragovernmental Transactions Categories of Reciprocal USSGL Proprietary Accounts
• Draft Fiscal 2004 USSGL Account Attributes Required for FACTS I - June 2003

AGENDA ITEMS

OMB Draft Super Circular
Judy mentioned that Treasury/FMS management is taking a "business as usual" stance, and use of the current USSGL process and procedures will continue for Treasury reporting purposes. OMB, OFFM said the decision to streamline current OMB requirements was made because agencies' expressed a desire for less prescriptive reporting requirements. No one present agreed that this was their agency position. To the contrary, the agency representatives stated they agree that the USSGL accounts and attributes used for populating accounting systems in a standard, consistent manner promote consistency and provide the detail required by FASAB Standards. The general agreement was that the OMB SC draft is a huge step backward in terms of improving data quality and achieving consistency in accounting practices across the Federal sector.

USSGL Project Updates

Capital Stock
This issue was briefly reviewed in the IRC some time back. When the USSGL staff solicited information/concerns, no one came forward. Judy asked those present if they had this activity. USDA and Export/Import Bank responded affirmatively. A committee will convene at some future date to get the issue resolved.

Closing Package
Judy mentioned that agencies will prepare the closing package submission to Treasury for fiscal 2004 reporting, in addition to their Adjusted Trial Balances (ATBs). In other words, the closing package process does not replace the ATBs. Although ATBs will not be the source for preparing the FR, Treasury intends to compare the information provided on the ATBs with FACTS I and FACTS II submissions to ensure proper accounting and consistency.

Agency comments have been received. The Closing Package (CP), will be used to produce the Financial Report (FR) of the Federal Government. Agency Trial Balance information will not be used to produce the FR. FACTS I notes will not be required. Bruce Henshel, (Commerce), was concerned that the Net Position footnote/alternative reconciliation line item is not fully explained.

FACTS I Table Changes
Changes to the FACTS I Table for 2003 were presented to the IRC. Concerns were raised in reference to creating new USSGL accounts for interest and penalties and related allowance accounts for each type of asset. The USSGL staff is working with FMS's Financial Reports Division on this issue.

Federal Intragov Transactions Categories of Reciprocal USSGL Proprietary Accounts
The handout was reviewed. The category Federal Interest Receivable/Payable requires further analysis. A correction was made to the providing/selling agency column for this category. For USSGL account 1614, remove "loans receivable" and insert "investments". A question was raised for USSGL accounts 5720 and 5730 in relation to booking a loss for transferred Federal assets. Are there rules against selling the asset at a loss? These pending issues will be brought back to the IRC.

Proposed New USSGL Accounts
1390 Judgment Receivable
There is a concern with going from a contingent liability "N" and a liability with Treasury "F" when Treasury pays the liability from the Judgment Fund followed by the agency required to pay back Treasury. There is a timing issue. Each payable to Treasury has to be isolated to track the change from a contingent liability "N" to a liability with Treasury "F". At some point, the contingent liability is converted to a payable (USSGL account 1310).

EEO disputes will become payable from the Judgment Fund October 1, 2003 for fiscal year 2004 reporting.

Transfer Transactions for the Department of Homeland Security
Several USSGL staff members provided transactions to the Department of Homeland Security to account for the numerous transfers of authority from a variety of agencies. General scenarios were also provided. If agencies involved with these activities are having any problems, contact John McNamara at DHS.

New USSGL Budgetary Accounts
Karen Metler (FMS) will propose USSGL budgetary accounts to the IRC in the next few weeks. These accounts are necessary to produce information for Trust Fund and FACTS II reporting.

Credit Reform
Marilyn Evans (FMS) is days away from completing the revised draft scenario for direct loans. The loan guarantee scenario is also near completion. These scenarios will be brought to the IRC for review.

Statement of Financing
Melinda Pope (FMS) is in the process of updating the USSGL crosswalk for the Statement of Financing and will be presenting to the IRC at a later date.

Miscellaneous Receipts
Proper reporting of receipts continues to be an issue. Several USSGL staff members are reviewing agency reporting and the preliminary studies show that receipts are not being reported correctly.

CLOSING REMARKS

Teresa Tancre (OMB) mentioned that agencies are reporting amounts for across-the-board rescission different than those reported to OMB. OMB will be contacting agency budget examiners on this.

ATTENDEES

Judy Yuran, FMS
Marilyn Evans, FMS
Toni Clark, FMS
Melinda Pope, FMS
Kathy Winchester, FMS
Karen Metler, FMS
Gwen Ferrell, FMS
Karl Foltz, FMS
Christine Chang, FMS
Don McKay, FMS/AS
Ben Sussman, FMS
Lena Lewis, FMS
Andrea Cherry, FMS
Keith Stith, FMS
Shariece Budd, FMS
Shannon Redding, FMS
Bill Fuller, USAID
Scott Brna, HHS
Lynn Moaney, USDA
Paul Hoffmann, USDA
Robert Darragh III, USDA
Kellece Chance, HHS
Valerie Grant, DoJ
Bruce Henshel, Commerce
Warren Cottingham, USCG
Rick Loyd, DoE
Janet McLean, VA
Monica Clarke, HUD
Traci Carroll, HUD
Linda Rogers, HUD
Diane Washington, FCC
John O'Fallon, NASA
Jack Hafner, NASA
Kim Thomas, NASA
Leslie Liu, NRC
Susan Jones, NRC
Jim Brady, EPA
Teresa Tancre, OMB
Kim Klein, NOAA
Bob Montgomery, SBA
Jim Gonyo, SBA
Barbara Hill, DoD/DFAS
Bob Booker, DoD/DFAS
Eileen Parlow, DoD
Bruce Crippin, State
Kotora Padgett, DoJ
Veronica Freeman, DoL
Leon Fleischer, Education
Jennifer Fleming, Education
Cindy Scharf, LoC
Bob James, LoC
Eileen Angle, State
Christine Kent, DoT
Mike Swanchara, GSA
Scott Hepsuin, GSA
Earl Barnes, GSA
Janice Alexander, NSF
Joe Sorbera, EXIM