1 / 7

The Redistribution of Clearing Accounts and Certain Miscellaneous Receipt Accounts

The Redistribution of Clearing Accounts and Certain Miscellaneous Receipt Accounts. Schedule of Events Dates. The Department of the Treasury requests a permanent March 2005 waiver for reporting certain receipt accounts as offsetting

paley
Download Presentation

The Redistribution of Clearing Accounts and Certain Miscellaneous Receipt Accounts

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Redistribution of Clearing Accounts and Certain Miscellaneous Receipt Accounts

  2. Schedule of EventsDates • The Department of the Treasury requests a permanent March 2005 waiver for reporting certain receipt accounts as offsetting receipts on the Statement of Budgetary Resources. Reference OMB Circular A-136, paragraph 6.7 and OMB Circular A-11, Appendix F. • OMB issued Budget Data Request No. 41, to collect July 2005 information on certain offsetting receipts. • FMS Yearend Closing Seminar notified agencies of August 2005 our intent. • FMS issued TFM Bulletin No. 2006-05, notifying agencies April 2006 of which accounts will be redistributed and when.

  3. “F” Accounts being redistributed: • Budget clearing account (suspense), __F3875, to temporarily credit unclassified transactions from the public when there is a reasonable presumption that the amounts belong to their agencies. • Undistributed intragovernmental payments account (suspense), __F3885, to temporarily debit/credit unclassified transactions between Federal agencies, including Intra-governmental Payment and Collection (IPAC) transactions.

  4. Unavailable Check Cancellations and Overpayments (suspense), __F3880, to temporarily debit/credit unclassified transactions resulting from the processing of claims on unavailable checks and overpayments • Proceeds of Sale, Personal Property (suspense), __F3845, to temporarily deposit, for up to 2 fiscal years, the proceeds from the sale of personal property that can be used by agencies to purchase additional personal property • Undistributed Proceeds from the Sale of Foreign Currency (suspense), ___F3810,

  5. Miscellaneous Receipt Accounts being redistributed: • General Fund Proprietary Interest, Not Otherwise Classified___1435 • Charges for Services to Public Enterprise Funds___2413 • Recoveries from Federal Agencies for Fire Fighting Services___3091 • Recoveries from Federal Agencies Resulting from Reduction in the Civil Salaries of Military Retirees____3102 • Collections of Receivables from Cancelled Accounts ___3200, used to record collections received after an account has been closed. • General Fund Proprietary Receipts, Not Otherwise Classified, AllOther____3220 • Transfers of Excess Receipts to the General Fund___3305

  6. OMB Circular No. A-136,(Financial Reporting Requirements) as well as OMB Circular A-11, Appendix F (Preparation, Submission and Execution of the Budget) requires that agency level distributed offsetting receipts be included in line 19C of the SBR.

  7. Effective for FY 2006: This change will appear beginning with the May issue of the Monthly Treasury Statement (released in June 2006). The change will also be effective for the Mid-Session Review of the FY 2007 Budget. Refer to TFM Bulletin 2006-05---www.fms.treas.gov

More Related