PDF FileThis bulletin provides agencies with the procedures for preparing yearend closing reports and other financial reports. It also contains the deadlines by which agencies must submit fiscal 2008 financial data to the Department of the Treasury (Treasury) for timely certification and reporting. (See Attachments 1 and 2.)
This bulletin rescinds Treasury Financial Manual (TFM) Volume I, Bulletin No. 2007-08: Yearend Closing.
Agencies submit preclosing adjusted trial-balance (ATB) data for fiscal yearend 2008 through the Federal Agencies' Centralized Trial-Balance System (FACTS) II. Agencies will use FACTS II to submit one set of data in the form of U.S. Government Standard General Ledger (USSGL) account balances. See TFM Volume I, Part 2, Chapter 4200, subsection 4250.20, as well as the Office of Management and Budget (OMB) Circular No. A-11, for data agreement requirements. From the FACTS II output, users may print from one set of budgetary data both the Financial Management Service (FMS) 2108: Year-End Closing Statement, and the Standard Form (SF) 133: Report on Budget Execution and Budgetary Resources, reports.
To guarantee the accuracy of budgetary results in the final MTS, agencies must include all previously unreported receipt and expenditure activity on the September 2008 Statement of Transactions (SOT) and/or Statement of Accountability (SOA). If an agency has no transactions, it must submit a "zero report." To ensure consistency between the MTS as well as receipt and outlay data furnished to OMB, Treasury will allow agencies to request adjustments for significant amounts.
The ALC information in Treasury's central accounting system (STAR) is the official agency contact data. Current ALC information is imperative. Agencies with eight-digit ALCs must submit in writing changes to addresses, telephone numbers, or points of contact. Mail or fax these changes, submitted on agency letterhead and signed by an appropriate agency official, to:
Cash Analysis Branch
Cash Accounting Division
Cash Accounting and Reporting Directorate
Governmentwide Accounting
Financial Management Service
3700 East-West Highway, Room 500E
Hyattsville, MD 20782
Telephone: 202-874-7980
Fax: 202-874-8887
Agencies with three- or four-digit ALCs also must submit in writing changes to addresses, telephone numbers, or points of contact. Mail these changes, submitted on agency letterhead with an original signature, to:
Check Reconciliation Branch
Check Resolution Division
Payment Management
Financial Management Service
3700 East-West Highway, Room 709A
Hyattsville, MD 20782
Telephone: 202-874-8150
Agencies must verify their records each month by comparing them to Treasury-reported transactions, as shown on their Governmentwide Accounting (GWA) Account Statement (Account Summary, Support Listings, Expenditure Activity, Transactions) reports. To gain access to the GWA Account Statement, see paragraph 29. Each agency reconciles these reports with the agency's USSGL account 1010, "Fund Balance With Treasury," and immediately reports questions or differences to the Cash Analysis Branch at 202-874-7980.
The short reporting periods require agencies to minimize errors. Failure to compare agency and Treasury recorded amounts may result in the discovery of errors during budget preparation and Treasury yearend certifications. If OMB, Treasury, or agencies find significant errors, Treasury will attempt to make corrections before publishing the Combined Statement of Receipts, Outlays, and Balances of the United States Government.
Agencies must reconcile budget clearing accounts (for example, F3875, F3880, and F3885) and Statements of Difference by the fiscal yearend. On the September 2008 SOT submission, transfer properly identified amounts contained in budget clearing accounts to the proper accounts. The undistributed and deposit reconciliation criterion for large differences for the current month and prior month for September is $1 million, as outlined in TFM Volume I, Part 2, Chapters 3100 and 3300. Treasury may request classification of large differences and reclassification of amounts in the budget clearing accounts in advance or through additional reports.
Suspense Account Policy
Refer to TFM Volume I, Bulletin Nos. 2007-07: Suspense "F" Account Discontinuance and Waiver Policy, and 2007-09: Format for Submission of Waiver Request Forms Resulting From F3875 and/or F3885 Suspense Account Activity, for special instructions.
Suspense Account Certification Policy
Agency Chief Financial Officers (CFOs), or the CFOs' designees, must certify the balances of the approved F3875 and F3885 suspense accounts to FMS annually, at yearend. FMS will send an e-mail to CFOs or the CFOs' designees of the agencies with approved suspense accounts to complete an online survey for certification. The due date to submit the certification for the suspense account(s) is October 24, 2008. Agencies' use of the continued suspense accounts will be reviewed on a regular basis.
Collections credited to appropriation, revolving, or nonrevolving fund accounts are reported in Section I, column 2, of FMS 224/Partial 224, FMS 1220, and FMS 1221. The following types of current fiscal year transactions are the only exceptions in which collections are to be netted against gross disbursements:
For instructions on preparing SOTs and/or SOAs, refer to TFM Volume I, Part 2, Chapter 3300 (FMS 224) or Chapter 3100 (FMS 1220).
Special and trust fund available receipt account symbols include a point designation to distinguish between expenditure and receipt accounts. Agencies must report collections (offsetting receipts) for special and trust fund accounts, using the point designation, in column 2 of the SOT. Record outlays in column 3.
Note that special and trust fund accounts involving transfer departments have point designations; these accounts are expenditure accounts.
Examples: Offsetting Receipts 20X8102.5 Expenditure with transfer department 69-20X8102.7
Receipts and outlays are not netted and reported as a single figure. Agencies must include the point designation on the receipt account symbol when reporting receipts. If the agency fails to use the point designation in column 2, it erroneously reports reimbursements that decrease total outlays. Review SOTs to ensure that receipts for special and trust fund accounts appear in column 2 and are complete with the point designation.
Treasury's Receipts by Department listing for fiscal 2008 third and fourth quarters will be available on the Internet to assist agencies with completing the Statement of Budgetary Resources, line 19C, Distributed Offsetting Receipts. Distributed offsetting receipts include the following categories:
The preliminary listing will be available at http://www.fms.treas.gov/annualreport/receipts-by-dept.html by the following dates:
Throughout the year, agencies with investment authority should anticipate upcoming expenses and should redeem investments accordingly. The balance of "Investments in Public Debt Securities" as reported on an agency's SOT must agree with the par value of its investments purchased through the Bureau of the Public Debt (BPD) plus additional Federal securities it acquired on the open market. Report corrections to investment balances on the SOT before yearend. For detailed instructions, see TFM Volume I, Part 2, Chapters 3100, 3300, and 4300.
The unrealized discount subclass (75) provides more accurate disclosure of agency investment holdings when securities are purchased at a discount. The balance of the unrealized discount account should be negative. Report any corrections to the unrealized discount balance on the SOT before the fiscal yearend. For detailed instructions, see TFM Volume I, Part 2, Chapters 3100, 3300, and 4300.
Agencies must review their balances in uninvested trust, deposit, and revolving fund accounts held for more than 1 year to determine if these balances contain moneys held for unknown owners. Agencies should transfer balances held for unknown owners to the unclaimed moneys account via the SOT and should maintain subsidiary records to support the transfers. Also, agencies must audit the unclaimed moneys account, which should be included in any internal audit program. For detailed instructions, refer to TFM Volume I, Part 6, Chapter 3000.
Allocation transfers are executed to receive, and subsequently obligate and disburse, funds that have a parent-child relationship. Nonexpenditure transfer (NET) transactions are processed at the time funds are allocated. The funds are transferred from the original (parent) account to the allocation (child) account. In adherence to the 5-year limitation, the agencies must transfer 2003 allocation funds to the parent account via the GWA NET application for disposition before October 1, 2008. If additional NETs are needed, the agency may be contacted by a Budget Reports Division (BRD) representative. An authorized representative from the transferring agency must transmit the NET using the "balance transfer" transfer type in the GWA NET application. See paragraph 29 for instructions on gaining access to the GWA System. Address questions to BRD's Budget Control Team at 202-874-9870.
Agencies should transfer any excess balance from liquidating accounts to the General Fund as a capital transfer. These are NETs accomplished by selecting the "capital transfer" transfer type in the GWA System. Each agency must use its two-digit department prefix for reporting. See paragraph 29 for instructions on gaining access to the GWA System. See TFM Volume I, Part 2, Chapter 4600, for additional information. Address questions to BRD's Budget Control Team at 202-874-9870.
Federal agencies shall electronically submit fiscal year information by processing an Intra-governmental Payment and Collection (IPAC) transaction charging 20X1880, "Credit Reform: Interest Paid on Uninvested Funds." Agencies must process all payments by September 30, 2008. In addition, agencies must notify the Credit Accounting Branch in advance via the e-mail address below when the transaction amount is $100,000 or greater. See TFM Volume I, Bulletin No. 2003-08. Address questions to:
Credit Accounting Branch
Financial Accounting and Services Division
Management
Financial Management Service
3700 East-West Highway, Room 622D
Hyattsville, MD 20782
Telephone: 202-874-8740
E-mail address: credit.accounting@fms.treas.gov
Effective first quarter 2009, USSGL account 4281, "Actual Program Fund Subsidy Receivable," will no longer be a valid account. Agencies should use USSGL account 4221, "Unfilled Customer Orders Without Advance," to record the subsidy that will be received when previously obligated loans are disbursed.
All amounts in USSGL account 4281 must be reclassified to USSGL account 4221 prior to yearend. FACTS II will edit check the amount in USSGL account 4281 for fourth quarter 2008. The balance in USSGL account 4281 must be zero; otherwise, the FACTS II adjusted trial balance will fail Edit Check 4: Zero Balance Accounts.
Note: OMB Circular No. A-11, Section 185.25, states that for a direct loan financing account include the subsidy cost payment obligated in the program account but not yet paid on the SF 133, line 3D2b, "Spending authority from offsetting collections, change in unfilled customer orders without advance from Federal sources." USSGL account 4221 crosswalks to line 3D2b, and its definition has been revised to include that agencies may use it to record the amount of subsidy to be transferred to the financing fund. Therefore, USSGL account 4281 is no longer needed.
Follow the guidelines below when processing either non-credit reform or credit reform transactions this fiscal yearend and note the cutoff dates. Contact the Federal Borrowings Branch at 304-480-7488 for further information.
GWA Repayment and Borrowing Transactions
- Agencies must certify normal borrowings in the GWA System no later than 3 p.m. eastern standard time (EST) on Tuesday, September 30, 2008.o Non-Credit Reform Funds
- The normal borrowings must have a GWA System transaction date of no later than September 30, 2008, and an effective date of October 1, 2007.
- Agencies must certify normal borrowings in the GWA System no later than 3 p.m. EST on Tuesday, September 30, 2008.
- The normal borrowings must have a GWA System transaction date and effective date of no later than September 30, 2008.
- Agencies must certify borrowings to pay interest in the GWA System no later than 3 p.m. EST on Tuesday, September 30, 2008.
- The borrowings must have a GWA System transaction date and effective date of no later than September 30, 2008.
- Agencies must certify repayments in the GWA System no later than 3 p.m. EST on Tuesday, September 30, 2008.
- The repayments must have a GWA System transaction date and effective date of no later than September 30, 2008.
IPAC Interest Payment Transactions
- Agencies must submit interest payments in the IPAC System no later than 3 p.m. EST on Tuesday, September 30, 2008.
- For fiscal 2008, agencies must submit all interest payments to new ALC 20550865, and all interest payments must include the Business Event Type Code (BETC) and Treasury Account Symbol (TAS) for both the sender and receiver.
- Agencies must submit the Credit Subsidy Calculator 2 (CSC2) output to BPD no later than 1 p.m. EST on Tuesday, September 30, 2008, via e-mail to borrowings@bpd.treas.gov.o Non-Credit Reform Funds
- Agencies must submit documents supporting interest calculations to BPD no later than 1 p.m. EST on Tuesday, September 30, 2008, via e-mail to borrowings@bpd.treas.gov.
Refer to TFM Volume I, Part 2, Chapter 4600: Treasury Reporting Instructions for Credit Reform Legislation, Section 4635, for additional information regarding borrowings from Treasury.
Before the yearend closing, agencies that have not reviewed their unliquidated obligations during the year must do so. This ensures that agencies properly record transactions meeting the criteria of valid obligations set forth in 31 U.S.C. 1501. Retain work papers and records on verifications to facilitate future audits.
Agencies use consolidated working fund accounts to receive, and subsequently disburse, advance payments from other agencies or bureaus. They credit advances from more than one appropriation, used to procure goods and services from the performing agency using its own facilities within the same fiscal year, to consolidated working fund accounts. Therefore, an agency must not present an unobligated balance on these accounts. Also, to comply with TFM Volume I, Part 2, Chapter 4200, agencies should not withdraw or cancel amounts in consolidated working fund accounts.
Agencies must close appropriation accounts available for obligation during a definite period on September 30th of the fifth fiscal year after the account's obligation availability ends. Cancel any remaining balances (whether obligated or unobligated) in the account. These balances are unavailable for obligation or expenditure. For fiscal yearend 2008, agencies must cancel amounts representing undisbursed balances in accounts that expired for obligation purposes at the end of fiscal 2003. The September GWA Account Statement must reflect a positive or zero balance for fiscal 2003 account balances that will be canceled.
On the fourth-quarter FACTS II submission, before an account will be closed, agencies must present all unobligated and obligated balances, including receivables and payables, as canceled. For further accounting guidance, refer to the USSGL TFM, Section III, Account Transactions, Part F, Yearend Preclosing and Closing Entries (see the USSGL Web site at http://www.fms.treas.gov/ussgl).
Note: Cancellation removes budget authority and remaining Fund Balance With Treasury; however, many times agencies still need to report financial information associated with a canceled Treasury Appropriation Fund Symbol (TAFS). For example, assets purchased by a TAFS are not relieved from financial reporting simply because a TAFS's budget authority is canceled. Also, agencies may have payables for which funding is canceled, but the liability is still valid and the agency needs to report these payables for financial reporting. Additionally, OMB expects agencies to track balances of canceled authority to ensure that future payments of canceled liabilities do not exceed the budget authority for the canceled TAFS.
If an agency must liquidate obligations after an account has been closed, it may use up to 1 percent of its current appropriation by reporting an SOT for the current TAFS using the 46 subclass. OMB provides guidance on liquidating obligations after an account has been closed in OMB Circular No. A-11, Section 130.14. Agencies deposit collections received after an account has been closed in miscellaneous receipts account 3200, "Collections of Receivables From Canceled Accounts."
Fiscal 2002 and prior accounts have been canceled previously except in cases where negative balances existed. When clearing these negative balances, close the account on the SOT by bringing the account balance to zero and depositing any excess receipts to miscellaneous receipts account 3200, "Collections of Receivables from Canceled Accounts."
Each agency should use its department prefix for reporting. If necessary, request that BRD's Budget Control Team, at 202-874-9870, establish the account.
By October 1, 2008, agencies must notify BRD's Budget Control Team in writing of the specific legislation for the account to remain on Treasury's books. Refer to TFM Volume I, Part 2, Chapter 4200, Section 4230, for additional guidance.
Agencies must notify BRD's Budget Control Team in writing to close a TAFS with a zero balance.
Refer to the USSGL Guide to Cancellations for information on adjusting, canceling, or rescinding TAFS with annual, multiyear, or X-year periods of availability. The guide, commonly referred to as the "cheat sheet," is available on the USSGL Web site at http://www.fms.treas.gov/ussgl/approved_scenarios/cancellation_cheat_sheet_june_07.pdf. When referencing this guide, agencies must be aware of the period of availability as well as the type of TAFS in order to correctly determine the accounting mechanism for processing. Failure to comply with this guidance could cause problems at yearend. For assistance, contact a member of BRD's Budget Control Team.
Canceled appropriation account balances are not available for obligation or expenditure [31 U.S.C. 1552(a), 1555]. However, BRD accepts reporting (1) to correctly classify payments to closed fiscal 2003 accounts previously reported to suspense/clearing accounts, or (2) to correct classification errors between current and closed accounts when submitted by the April 1, 2009, deadline. The cumulative adjustment reported against the closed account cannot exceed the available balance remaining in the account at the time it closed.
Submit a written request and a paper copy of the SOT marked "Supplemental" with the report date of September 30, 2008, to:
Monthly Treasury Statement Team
Budget Reports Division
Financial and Budget Reports Directorate
Governmentwide Accounting
Financial Management Service
3700 East-West Highway, Room 518D
Hyattsville, MD 20782
Telephone: 202-874-9880
The agency will receive notification of the adjustment via the GWA Account Statement. Treasury will not consider requests pertaining to closed fiscal 2003 accounts received after April 1, 2009.
BRD will accept requests for adjustments between October 7, 2008, and October 20, 2008, for inclusion in the Combined Statement of Receipts, Outlays, and Balances of the United States Government. For detailed instructions, refer to TFM Volume I, Part 2, Chapter 4200, subsection 4250.30.
Users requesting access to any GOALS II application must submit a GOALS II Enterprise Security Access Administration System (ESAAS) request form to obtain a logon ID and password and/or SecurID card. Users can download the ESAAS request form from the GOALS II Web site at http://www.fms.treas.gov/goals. Contact the GWA Customer Assistance Group at 202-874-8270 for further information.
If a user misplaces or forgets the logon ID or password for the GOALS II applications housed on the Internet [Statement of Differences, FACTS I, Governmentwide Financial Report System (GFRS), Intragovernmental Fiduciary Confirmation System (IFCS), or FACTS II], he or she should contact the GWA Customer Assistance Group at 202-874-8270. Report lost or stolen SecurID cards to the FMS Help Desk at 202-874-4357. To reset passwords and to synchronize SecurID cards, direct calls to the FMS Help Desk.
To return any SecurID card, send the card with a letter from management requesting revocation of the access to the FMS Security Office at:
Data Access Control Division
IT Security Operations Directorate
Information Resources
Financial Management Service
3700 East-West Highway, Room 269
Hyattsville, MD 20782
Telephone: 202-874-4357
To revoke GOALS II access, complete an ESAAS request form for revocation. Users can download the ESAAS request form from the GOALS II Web site at http://www.fms.treas.gov/goals.
To enroll in the GWA Account Statement, users should go to the Web site at https://www.gwa.gov and click on the "Enroll" button. To enroll in the GWA Authority Transaction Module, which includes the Borrowing from Treasury, NET, Warrant Journal Voucher, and Appropriation Warrant applications, users can visit the same GWA System logon page. Note that employees will not be able to enroll or make modifications to their access unless their supervisor is already enrolled. For supervisor enrollment, the supervisor may obtain the required form from the Web site at http://www.fms.treas.gov/gwa and click on the enrollment link. Also, users enrolling through this process will complete the steps necessary to establish answers for authentication questions and shared secrets in the event of forgotten passwords. Once these authentication questions and shared secrets are initially established, users may reset their own passwords by clicking on the "Forgot Password" link on the GWA System logon page.
Refer to TFM Volume I, Part 2, Chapter 4200, Section 4255.
The primary purpose of the FACTS II revision period is to make FACTS II data consistent with amounts in the prior-year column of the Budget. Agencies should use the revision period to correct errors; they should not view the revision period as extra time to verify data. Agencies must provide revisions for both material and nonmaterial amounts. Agencies' senior management and auditors will determine whether revisions will require a restatement of the agency Statement of Budgetary Resources (SBR) or require footnotes to explain the differences in the SBR and FACTS II submissions. The revision window opens Monday, November 3, 2008, at 10 a.m. EST and closes Friday, November 14, 2008, at 2 p.m. EST.
Use the TROR to report accounts and loans receivable, including defaulted guaranteed loans due from the public. Submit separate reports for direct loans, defaulted guaranteed loans, and administrative receivables (receivables generated from activities other than direct or defaulted guaranteed loans). All entities with receivable activity must submit a TROR at fiscal yearend. These yearend reports are due to Treasury by Monday, November 17, 2008, which differs from Treasury's normal quarterly reporting (first, second, and third quarter) for all TROR reporting entities. These quarterly reports are due to Treasury by the 30th day of the month following the close of the quarter.
Submit the TROR via the Debt Management Information System (DMIS). Contact the DMIS Administrator at 202-874-7359 for information on accessing the system and training. Refer to TFM Volume I, Part 2, Chapter 4100, for instructions on preparing the TROR, and access the TROR instructional workbook on the Debt Management Services Web site at http://www.fms.treas.gov/debt/TROR_instructions_yr2007.pdf.
The submitting agency's CFO or equivalent must verify and certify all fourth-quarter (yearend) reports. The verification and certification of the TROR are due to Treasury by Monday, November 17, 2008.
Verification of the TROR means that the report has been reconciled to the agency's audited financial statements or, if not to the audited financial statements, to FACTS I. The verification should state that the information presented in Part I, Section A, Ending Balance, line 7, of the TROR was reviewed and reconciled to the receivable balances in the agency's Form and Content-Audited Financial Statements, that is, the Balance Sheet and FACTS I. If the report is not reconciled to the Balance Sheet or FACTS I, the verification should state so, with an explanation as to why verification is not possible. Agencies also should disclose the audit opinion of the financial statements or any issues regarding the pertinent accounts.
Certification means that the delinquent debt amounts reported on the TROR for referral to cross-servicing and offset are correct and legally enforceable.
FMS will issue additional instructions for the combined verification and certification process to agency CFOs before the fourth-quarter reporting. For questions regarding the verification and certification of the TROR, contact:
Accounting and Agency Services Division
Debt Management Services
Financial Management Service
401 14th St. SW., Room 206
Washington, DC 20227
Telephone: 202-874-8580
Fax: 202-874-7292
The Interpretation of Federal Financial Accounting Standards, Interpretation No. 2, Accounting for Treasury Judgment Fund Transactions: An Interpretation of SFFAS No. 4 and No. 5, requires agencies to recognize liabilities and expenses when unfavorable litigation outcomes are probable and the agencies can estimate the amounts. The agency will record an imputed cost and imputed financing source at the time it learns the Judgment Fund will pay the settlement. The entry records both imputed costs and imputed financing sources as Federal transactions ("F" for FACTS purposes) and records the Judgment Fund as the trading partner (20). FMS will record a non-Federal expense ("N" for FACTS purposes). FMS will notify agencies via the Judgment Fund Web site at http://www.fms.treas.gov/judgefund of claims, at the transaction level, that have been approved as appropriate for payment from the Judgment Fund. Agencies should review the amounts approved for subsequent disbursement from the Judgment Fund monthly and especially at yearend.
For information concerning the status of a claim, contact:
Judgment Fund Branch
Financial Accounting and Services Division
Management
Financial Management Service
3700 East-West Highway, Room 6F03
Hyattsville, MD 20782
Telephone: 202-874-6664
For information concerning the accounting for the Judgment Fund, contact:
Credit Accounting Branch
Financial Accounting and Services Division
Management
Financial Management Service
3700 East-West Highway, Room 622D
Hyattsville, MD 20782
Telephone: 202-874-8740
GFRS and FACTS I are Internet applications on GOALS II. Any user requesting access to GFRS and FACTS I must submit a GOALS II ESAAS request form to obtain a logon ID and password. Users can download the ESAAS request form from the GOALS II Web site at http://www.fms.treas.gov/goals. Fax the completed form to the Financial Reports Division (FRD) at 202-874-9907. Processing the access request form and mailing the logon ID and password require significant lead time; therefore, request a logon ID and password for all users as soon as possible.
Contact FRD for information related to the GFRS and FACTS I roles listed on the ESAAS request form since FRD affords specific privileges to each role. Users requesting to switch GFRS and FACTS I roles must contact FRD for approval and must submit an ESAAS request form for processing. If a user misplaces or forgets the logon ID or password, he or she should contact the GWA Customer Assistance Group at 202-874-8270 to request that the ID or password be reset.
The schedule for agency reporting, via the GOALS II GFRS and FACTS I applications, is as follows:
Deadline | Submission and Availability |
| Aug. 28, 2008 | FACTS I Master Appropriation File (MAF) window opens. |
| Sept. 8, 2008 | GFRS Closing Package data submission window opens. |
| Sept. 19, 2008* | FACTS I MAF window closes. |
| Oct. 1, 2008 | FACTS I reporting window opens for ATBs. |
| Nov. 15, 2008* | FACTS I reporting window closes for ATBs for nonverifying agencies by 6 p.m. EST. |
| Nov. 15, 2008* | GFRS Notes and Other FR Data submissions are due for nonverifying agencies by 6 p.m. EST. |
| Nov. 15, 2008* | GFRS Closing Package CFO approval is due for verifying agencies by 6 p.m. EST. |
| Nov. 17, 2008* | Inspector General (IG) opinion is due on the Closing Package, including the Trading Partner Note, for verifying agencies by 6 p.m. EST. |
| Dec. 1, 2008* | FACTS I reporting window closes for ATBs for verifying agencies by 6 p.m. EST. |
| *Represents the "no later than date." Agencies should submit data as early as possible. | |
To access the GOALS II logon screen, see the GOALS II/Information Access System (IAS) Web site at http://www.fmsapps.treas.gov/ias. For information relating to the GOALS II GFRS and FACTS I applications, contact FRD at 202-874 9910. For GOALS II training needs, call the GWA Customer Assistance Group at 202-874-8270.
The IFCS, an Internet-based application, is the official confirmation system for Federal departments and agencies to confirm and reconcile, on a quarterly basis, their:
The GOALS II/IAS Web site address to access the IFCS is http://www.fmsapps.treas.gov/ias. Agencies that have not signed up to use the IFCS should contact FRD at 202-874-9910. Agencies must perform the final fiscal yearend 2008 reconciliation by October 17, 2008.
The dates in Attachment 1, unless otherwise indicated, represent the dates reports are due to Treasury. Coordinate reporting to permit agency books to remain open for as long as possible. If reporting by paper copy, allow for sufficient handling or mailing time to meet the prescribed deadlines. Agencies outside the Washington, DC, and metropolitan area use express mail to ensure timely submission. Attachment 2 contains addresses and telephone numbers for indicated offices.
TFM Volume I, Part 6, Chapter 8500, provides the cash forecasting requirements for Federal Program Agencies (FPAs). This chapter includes special instructions for reporting deposits or disbursements of $50 million or more in a single transaction or multiple transactions of a common nature for cash forecasting purposes. FMS requires 2 business days' advance notification for transactions of $50 million or more and 5 business days' advance notification for transactions of $500 million or more. When an FPA does not provide FMS with advance notice, it must notify FMS's Cash Forecasting Division by telephone as soon as possible but no later than 8:30 a.m. EST on the settlement date of the deposit or disbursement.
FPAs should report cash forecasting information to FMS's Cash Forecasting Division using the following Web site, e-mail address, telephone number, and/or fax:
Web site: https://www.cashtrack.gov
E-mail address: funds.control@fms.treas.gov
Telephone: 202-874-9789
Fax: 202-874-9984 or 202-874-9945
This bulletin is effective immediately.
Direct questions concerning this bulletin or requests for account balance confirmations to:
Budget Reports Division
Financial and Budget Reports Directorate
Governmentwide Accounting
Financial Management Service
3700 East-West Highway, Room 518D
Hyattsville, MD 20782
Telephone: 202-874-9870
Fax: 202-874-9966
Judith R. Tillman
Commissioner
Date: July 11 2008
Items | Submission and Availability Instructions | Deadlines |
| FACTS I MAF window opens. | Access via GOALS II. | Aug. 28, 2008 |
| GFRS Closing Package data submission window opens. | Access via GOALS II. | Sept. 8, 2008 |
| FACTS I MAF window closes. | Access via GOALS II. | Sept. 19, 2008 |
| Process IPAC transaction requesting interest payment on Credit Reform: Interest on Uninvested Funds. | Access via GOALS II. | Sept. 30, 2008 |
| FACTS I reporting window opens for ATBs. | Access via GOALS II. | Oct. 1, 2008 |
| Sept. 2008 new account symbol requests | Express mail/fax to the Budget Control Team. | Oct. 1, 2008 |
| Sept. 2008 appropriation requests | Express mail/fax to the Budget Control Team. | Oct. 1, 2008 |
| Sept. 2008 GWA NET Authorizations | Transmit via the GWA NET application to the Budget Control Team. | Oct. 1, 2008 |
| Sept. 2008 automated FMS 224: Statement of Transactions | Transmit via GOALS II to the Cash Accounting Division. | Oct. 3, 2008 |
| Sept. 2008 FMS 1219 and FMS 1220: Statement of Transactions and Accountability | Transmit via GOALS II to the Cash Accounting Division. | Oct. 3, 2008 |
| Sept. 2008 FMS 1219 and FMS 1220: Statement of Transactions and Accountability (Military) | Transmit via Connect:Direct to the Cash Accounting Division. | Oct. 3, 2008 |
| Sept. 2008 SF 1218 and SF 1221: Statement of Accountability and Transactions (Foreign Service Account) | Transmit via Connect:Direct to the Cash Accounting Division. | Oct. 3, 2008 |
| FACTS II reporting window opens. | Access via FMS Intranet. | 2 p.m. EST Oct. 7, 2008 |
| IFCS window opens for confirmation users to input fiscal yearend 2008 reconciliation. | Access via GOALS II. | Oct. 7, 2008 |
| Sept. 2008 GWA Account Statement | Access via GWA Internet. | No later than Oct. 9, 2008 |
| FACTS II accounts and balances verified by agencies | Access via FMS Intranet. | Oct. 10, 2008 |
| IFCS window closes for confirmation users to input final fiscal yearend 2008 reconciliation data. | Access via GOALS II. | Oct. 17, 2008 |
| FACTS II reporting window closes. | Access via FMS Intranet. | 2 p.m. EST Oct. 20, 2008 |
| FACTS II revision window opens. | Access via FMS Intranet. | Nov. 3, 2008 |
| Annual Report on Unfunded Foreign Currency Reservation Accounts (I TFM 2-3200) for Oct. 1, 2007, through Sept. 30, 2008 | Express mail to the Accounting and Data Management Division (ADM). | Nov. 14, 2008 |
| Report of Estimated Foreign Currency Collections and Expenditures (I TFM 2-3200) for Oct. 1, 2007, through Sept. 30, 2008 | Express mail to ADM. | Nov. 14, 2008 |
| Currencies Purchased From Sources Outside the U.S. Government Cumulative (I TFM 2-3200) for Oct. 1, 2007, through Sept. 30, 2008 | Express mail to ADM. | Nov. 14, 2008 |
| FACTS II revision window closes. | Access via FMS Intranet. | Nov. 14, 2008 |
| FACTS I reporting window closes for ATBs for nonverifying agencies. | Access via GOALS II. | No later than 6 p.m. EST Nov. 15, 2008 |
| GFRS Notes and Other FR Data submissions are due for nonverifying agencies. | Access via GOALS II. | No later than 6 p.m. EST Nov. 15, 2008 |
| GFRS Closing Package CFO approval is due for verifying agencies. | Access via GOALS II. | No later than 6 p.m. EST Nov. 15, 2008 |
| Inspector General (IG) opinion is due on the Closing Package, including the Trading Partner Note, for verifying agencies. | Access via GOALS II. | No later than 6 p.m. EST Nov. 17, 2008 |
| Treasury Report on Receivables and Debt Collection Activities | Transmit via Internet between Oct. 15 and Nov. 17, 2008. | Nov. 17, 2008 |
| Chapters of the Combined Statement of Receipts, Outlays, and Balances of the United States Government | The Combined Statement Team will deliver to OMB and agencies via the FMS Web site at http://www.fms.treas.gov/annualreport. | No later than Nov. 24, 2008 |
| FACTS I reporting window closes for ATBs for verifying agencies. | Access via GOALS II. | No later than 6 p.m. EST Dec. 1, 2008 |
| Requests for classification adjustments to closed accounts and supporting statement of transactions | Mail to Budget Reports Division. | Apr. 1, 2009 |
Treasury will strictly enforce the above dates to permit timely closing of the books and publication of budget results.
Agencies in the Washington, DC, and metropolitan area should hand carry their reports to Treasury. Agencies outside the Washington, DC, and metropolitan area should use express mail. Express mail is a U.S. Postal Service feature offering guaranteed overnight delivery. Specify the "Post Office to Addressee" option.
Deliver the Annual Report on Unfunded Foreign Currency Reservation Accounts and the Report of Estimated Foreign Currency Collections and Expenditures to:
Accounting and Data Management Division
Federal Finance
Financial Management Service
401 14th Street, SW., LCB 523F
Washington, DC 20227
Telephone: 202-874-7994