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

July 22, 2004

GENERAL ITEMS

Judy Yuran (FMS) opened the meeting and introductions were made. She stated it was apparent there was a malfunction in the email meeting notice that was sent this week as no one other than the FMS contacts had received the notice. Reps from two agencies were in attendance, but they had to call to find out if a meeting was scheduled.

HANDOUTS

• Draft FACTS II Attribute Alignment Project Status, dated 7/20/04
  
  
• USSGL Interactive Web Based Application Project Status, dated 7/22/04
  
  
• Proposal to delete USSGL TC #F232 for Credit Reform Liquidating Fund
  
  
• FAQ Proposal for Reclassifying FECA, dated 7/22/04
  
  
• FAQ Proposal for Budget Related Inquiries, dated 7/22/04
  
  
• Clarifying the Relationship Between Covered/Not Covered and Funded/Unfunded, dated 7/22/04

DISCUSSIONS

Proposal to delete USSGL TC #F232 for Credit Reform Liquidating Fund

Judy explained the problem with requiring USSGL TC #F232. The transaction improperly closes revenues and expenses to USSGL account 2970, "Resources Payable to Treasury." The proper transaction should close expenses and revenues to USSGL account 3310, "Cumulative Results of Operations," as shown in USSGL TC #F228. This may, however, result in the liquidating fund having a balance in USSGL account 3310. If the agency deems it necessary to have a zero balance in USSGL account 3310, then a pre-closing proprietary entry must be made (refer to the proprietary entry in USSGL TC #A143).

FAQ Proposals

The Frequently Asked Questions (FAQs) are on the USSGL Web site. Periodic inquiries that are made to the USSGL Division will be documented and brought to the IRC for discussion and consideration for inclusion as a FAQ.

Why Reclassify Unfunded Expenses/Liability to Funded for FECA?

The question under consideration: Why do you have to do the reclassification entry of unfunded expenses/liability to funded expense/liability in the year funding becomes available to pay prior-year FECA billing from Labor?

The reply on the handout was approved with minor grammar changes and will be added to the USSGL Web site.

Barbara Hill and Kathy Sherrill (DoD), mentioned a related reconciliation issue they have with unemployment compensation and FECA that they had reported in USSGL account 2215, "Other Post-Employment Benefits Due and Payable." The Intragovernmental Reporting and Analysis System (IRAS) is interested in the fiduciary amounts, i.e., FECA, whereas unemployment compensation is non-fiduciary. Therefore, since both are rolled up into USSGL account 2215, there is a difference when eliminated to amounts provided by the Department of Labor.

Three possible solutions were discussed. Judy will contact Labor and FMS GFRS staff to work to resolve the situation. The issue will be brought back to the IRC at a later date.

Who do I contact when I have budget-related questions that are not USSGL specific in nature?

Judy stated that Teresa Tancre (OMB) had approved the reply from the handout. The IRC reviewed and approved it as well. This FAQ will be added to the USSGL Web site.

Clarifying the Relationship Between Covered/Not Covered and Funded/Unfunded

DoD representatives submitted an issue that raised a misunderstanding of the terms Covered and Funded. The handout quoted OMB's Form and Content definition for Covered/Not Covered. This definition makes clear that Covered means liabilities can be covered (have budgetary resources), but may not necessarily be Funded (liability balance is obligated). With that in mind, the USSGL Balance Sheet crosswalk will be changed to reflect attributes Covered "C" and Not Covered "U" for the following USSGL accounts:

2220 Unfunded Leave
2225 Unfunded FECA Liability
2290 Other Unfunded Employment Related Liability

ATTENDEES

Judy Yuran, FMS
Karen Metler, FMS
Shadonna Broaddus, FMS
Gwen Marshman, FMS
Karl Foltz, FMS
Michele Crisman, FMS
Aaron Levine, FMS
Don McKay, FMS/AS
John Emery, FMS/AS
Kim Klein, DoC/NOAA
Barbara Hill, DoD
Kathy Sherrill, DoD