Introduction to FACTS II

FACTS II is a shift from form-based reporting to Standard General Ledger (SGL)-based reporting. That is to say, you enter the accounting data and FACTS II will do the crosswalking for you so that you get the reports you need. FACTS II collects pre-closing, adjusted trial balance (ATB) data by U.S. Standard General Ledger (SGL) accounts and SGL attributes for each fund symbol. The overwhelming majority of SGL accounts reported to FACTS II are budgetary in nature (i.e. 4000 series of SGL accounts). The budgetary accounts record budgetary resources (e.g. budget authority, contract authority, and authority from offsetting collections) and the status of resources in the context of obligational authority (e.g. obligations incurred, unobligated balances, and balances not available for obligation). FACTS II also collects a small number of proprietary accounts that are used to reconcile cash (e.g., SGL account 1010, Fund Balance with Treasury).

FACTS II replaces the GOALS applications that had collected the FMS 2108 and SF 133. FACTS II does not replace FACTS I, a separate GOALS application that collects proprietary SGL account balance information that is used to produce the government-wide Consolidated Financial Statement. Both FACTS I and FACTS II will exist simultaneously, and run independently of one another. Users access FACTS II through GOALS II.