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

July 19, 2007

GENERAL ITEMS:

Judy Yuran (FMS) opened the meeting by speaking briefly about the updated USSGL Web site. She stated that the changes in the revised Office of Management and Budget (OMB) Circular No. A-ll will be incorporated in a TFM release to be published in August.

HANDOUTS:

  • Changes for 2007 Program and Financing (P&F) Schedule Crosswalk

  • Draft USSGL Accounts Crosswalked to Multiple Lines With Mark Up

  • USSGL Crosswalk to Multiple Lines

  • USSGL Crosswalk - Balance Sheet for Fiscal 2007 Reporting

  • USSGL Crosswalk - Statement of Net Cost for Fiscal 2007 Reporting

  • USSGL Crosswalk - Statement of Changes in Net Position for Fiscal 2007 Reporting

  • USSGL Crosswalk - Statement of Custodial Activity for Fiscal 2007 Reporting

  • USSGL Crosswalk - Reclassified Balance Sheet for the Closing Package for Fiscal 2006 Reporting

  • USSGL Crosswalk - Reclassified Statement of Net Cost for the Closing Package for Fiscal 2006 Reporting

  • USSGL Crosswalk - Reclassified Statement of Changes in Net Position for the Closing Package for Fiscal 2006 Reporting

AGENDA ITEMS:

Kathy Winchester (FMS) reviewed changes to the crosswalk for the P&F Schedule for fiscal 2007. She emphasized that the biggest change is the deletion of the line sign column. A debit/credit column was added to the crosswalk in place of the line sign column. Teresa Tancre (OMB) stated that sequestration material has been removed from OMB Circular No. A-11. Therefore, P&F lines 2380, 2385, 9110, 9180, and 9185 also will be deleted because these lines dealt specifically with sequestration.

Michele Crisman (FMS) discussed split USSGL accounts. Split USSGL accounts occur when a USSGL account appears on multiple lines of the same crosswalk. When this occurs, the data must be segregated by either creating a new USSGL account or an account attribute. Christine Chang (FMS) said there would be a subcommittee to analyze split USSGL accounts for the Statement of Custodial Activity. The goal of the subcommittee will be to determine what types of activities agencies are recording in the accounts.

Michele continued the discussion on split USSGL accounts by reviewing the "Draft USSGL Accounts Crosswalked to Multiple Lines With Mark Up" handout. There was a discussion about separate accounts on the Balance Sheet for the interest receivable for investments, accounts receivable, and loans. Judy suggested that new USSGL accounts for each type of interest would be preferable to creating a new attribute. Michele pointed out the new "earmarked" attribute. The proposed domain values are "M" for earmarked and "A" for all other values. During the discussion on accounts for tax revenue collected, Michele proposed several new USSGL accounts to differentiate tax revenue by its source. Eileen Parlow (FASAB) recommended re-titling USSGL account 5800, "Tax Revenue Collected - Individual," because individual income tax is the source that represents the largest Governmentwide dollar amount. The group reviewed the first seven pages of the "USSGL Accounts Crosswalked to Multiple Lines With Mark Up" handout. The rest of the document will be reviewed at the next meeting.

CLOSING REMARKS:

Judy closed the meeting by giving everyone at the table a chance to offer questions/comments. Leon Fleischer (SBA) invited people to join the Credit Reform subcommittee.

ATTENDEES:

Judy Yuran, FMS
Kathy Winchester, FMS
Michele Crisman, FMS
Keith Mertz, FMS
Christine Chang, FMS
Eileen Parlow, FASAB
Yong Sun, HUD
Webster Coleman, DOL
Leon Fleischer, SBA
Chris Dyson, ED
Ben Sussman, FMS
Jeff Carr, DOE
Angela Wilson, NRC


   Last Updated:  March 14, 2014