U.S. Government Standard General Ledger Board and Issues Resolution Committee Meeting Minutes
September 1, 2005
GENERAL ITEMS:
Judy Yuran (FMS) opened the meeting by stating that the USSGL TFM S2 05-03 and OMB Circular No. A-136 are now on the web. Introductions were made. Judy stated that Karen Metler (FMS) would review an update to a scenario, that included a proposal to modify the definitions of some trust fund budgetary accounts; and Michele Crisman (FMS) would discuss changes to accounts and transactions for prior period adjustments.
HANDOUTS:
Draft Revision - Reductions of Expenditure Transfers Receivable/Payable Scenario
USSGL TFM Section II Modifications to USSGL accounts 4126/4127/4128/4129
Correction of Errors and Change in Accounting Principle Draft Chart of Accounts
Correction of Errors and Change in Accounting Principle Draft Accounts and Definitions
Correction of Errors and Change in Accounting Principle Draft Transactions
AGENDA ITEMS:
Karen went over a handout showing Section II modifications to USSGL accounts 4126, 4127, 4128, and 4129. The following sentence was added to the definition of each account: "Other TAFS may record this account only with prior OMB approval." NRC and DOE need to use these accounts in order to correctly report via FACTS II. There were no questions from the group concerning this handout.
Karen then discussed a proposed update to the scenario entitled "Rescissions of Expenditure Transfers Receivable/Payable." The scenario was originally developed in September 2003. It has since been updated to support TFM release S2-05-02 (June 2005) and revised terminology in OMB Circular No. A-ll. Additionally, it was revised to reflect the reduction taken at the "Transferring TAFS" level, rather than at the "Receiving TAFS" level. This is per OMB instruction. Refer to transaction #5 which illustrates the change. There were no questions from the group concerning the update to this scenario.
Michele discussed the accounts and transactions used to record prior-period adjustments. She stated that Bruce Henshel (Commerce) sent a comment that the words "Prior-Period" should remain in the account titles. She then opened up the discussion by asking if there were any comments.
Joe McAndrew (Treasury) raised a concern about using the word "Restated" in the account titles. His concern was that materiality changes at every level - a smaller entity within a department may want to restate something that is not material at the department level. Following this discussion, Judy proposed that we eliminate the restatement terminology from the account definitions and titles and have just two sets of accounts - one set for adjustments due to changes in accounting principles and one set due to corrections of errors. An informal survey was taken, and most of the members of the group agreed with this proposed methodology, although some of them wanted to take it back to their offices for review. Judy stated that it would be up to agency discretion when to use these accounts.
The IRC decided on the following proposed accounts to record prior-period adjustments:
3108 Unexpended Appropriations - Prior-Period Adjustments Due
to Corrections of Errors
3109 Unexpended Appropriations - Prior-Period Adjustments Due
to Changes in Accounting Principles
5708 Expended Appropriations - Prior-Period Adjustments Due
to Corrections of Errors
5709 Expended Appropriations - Prior-Period Adjustments Due to
Changes in Accounting Principles
7400 Prior-Period Adjustments Due to Corrections of Errors
7401 Prior-Period Adjustments Due to Changes in Accounting
Principles
Maryla Engelking (DoD) stated that she agreed with Bruce Henshel about keeping the words "prior-period" in the account titles.
Changes to the definitions of the prior-period adjustment accounts were agreed upon. Changes to the transactions that use these accounts were also discussed. Judy said the agreed upon corrections will be made and that there is a possibility a work group would be formed to further address issues with prior-period adjustments.
CLOSING REMARKS:
Judy closed the meeting by mentioning that a work group will be formed to look at the issue of the Cost Capitalization account and USSGL accounts 8801/8802 memorandum purchases accounts.
ATTENDEES:
Judy Yuran, FMS
Melinda Pope, FMS
Kathy Winchester, FMS
Karen Metler, FMS
Gwen Marshman, FMS
Michele Crisman, FMS
Keith Mertz, FMS
Shadonna Broaddus, FMS
Stephen Hull, SSA
Marilyn Evans, DHS
Beverly Scott, DHS
Tai Westerman, DHS
Barbara Harbell, DOE
Grace Kim, Ed
Denise Robinson, FCC
Lise Trumbull, GSA
Janet Erbacher, GSA
Rebekah Armistead, GSA
Natalia Costello, GSA
Geneva Jones, HHS
Joseph Henry, SBA
Jeanette Kuendel, PTO
Patrice Cousins, NSF
Traci Carroll, HUD
Leon Fleischer, NRC
Joseph McAndrew, Treasury
Don Geiger, Treasury
Christine Kent, OPM
Jennifer Fleming, Ed
Maryla Engelking, DoD
Martha Cooper, DFAS
