U.S. Government Standard General Ledger Board and Issues Resolution Committee Meeting Minutes
December 12, 2002
GENERAL ITEMS
FMS must meet OMB's December 31, 2002 deadline of updating the fiscal 2003 "Federal Intragovernmental Transactions Categories of Reciprocal U.S.
Government Standard General Ledger Proprietary Accounts" (see handout).
Refer to TFM Volume 1, 2-4000, Appendix 5.
HANDOUTS
TFM Volume 1, 2-4000, Appendix 5 "Federal Intragovernmental
Transactions Categories of Reciprocal U.S. Government Standard General Ledger
Proprietary Accounts" (dated August 2002)
AGENDA ITEMS
Marilyn Evans (FMS) defined and discussed the following categories.
The Fiduciary categories include # 1, 3, 5, 6, 7, 13, 15, 16, and 26.
Column titles will be modified to "Receiving/Purchasing Agency"and "Providing/Selling Agency".
The Buy-Sell categories:
Categories 8 and 9: To be deleted. A gain/loss in the receiving agency does not correspond with a gain/loss in the providing agency.
Category 12:To be deleted. Redundant, therefore, will be combined with Category 24.
Category 22: USSGL 2980F will be deleted from this category and added to the Treasury "F99" category. USSGL 1325F is proposed to be deleted. Staff looking into further as to whether USSGL 1325 should be non-Federal only. USSGL 1360F will be deleted. It should be non-Federal only. USSGL 1990F will be deleted, pending responses by IGET team.
Category 23: No USSGL changes.
Category 24: Based on government-wide gains and losses. Looking at making non-Federal when selling an asset. Discussed eliminating USSGL 7110FX,
7210FX, 7190FX, 7290FX because one entity has a gain/loss, there is no corresponding loss/gain recorded by the other entity. Eileen Parlow(DOD) noted that if the gains/losses are defined as non-Federal only, the
agencies will not be able to reconcile. She said that the consolidated financial statements should not recognize gains or losses that occur when an asset is sold by one federal agency to another. Furthermore, the entries are
dependent upon whether or not the sale is a part of the agency's normal business operations. USSGL will research further.
USSGL 5320FX is in question. Marilyn will run a FACTS I query and analyze. USSGL 5500FX will be deleted and defined as non-Federal only. USSGL 7300F will be deleted and defined as non-Federal only. Correction: move USSGL 8802 from "Providing Agency" column to "Receiving Agency" column.
Categories 18, 19, 20, 21: No USSGL changes. Note that the GWA system will have USSGL suggested accounts for the various types of nonexpenditure transfers. The IPAC system will have USSGL suggested accounts as well for the expenditure transfers.
Categories 27, 28: No USSGL change. FMS looking into combining the categories to suit the purpose of Appendix 5.
Other categories (non buy-sell related):
Category 2: No USSGL change
Categories 10, 11: USSGL 6330F typically pertains to Treasury "F99" expenses only. Therefore, a note will be added that 6330F in this category pertains to credit reform downward reestimates in mandatory accounts only.
Category 25: USSGL 5780F and 6730F should both be included under the receiving agency; therefore, move USSGL 6730R from the "Providing Agency" column to the "Receiving Agency" column. The imputed revenue and imputed expense should both be reported on the same trial balance.
The accounts should always be posted together and always for the same amount.
Additional notes were added to the following categories currently being
researched:
Category 1: USSGL 2540F has had no activity for the last three years.
Category 3: Only pertains to FFB and BPD Federal investments. Category 4 pertains to agency securities. Suggestion made to combining categories 3, 4, 13, and 14.
Category 5: Typo: should read "exchange". Typo: delete USSGL 2155F. Suggest combining with category 15.
Categories 6, 7: Strikeout "Department of Treasury" and propose rewording to clarify that for BPD borrowings, the BPD does not record gains/losses, whereas for FFB borrowings, the agency would have gain/loss.
Will research further.
Category 16: Being researched.
Category 17: Marilyn will run FACTS I query of USSGL 2590F.
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