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Improving Financial Reporting and Audit Model – Data Entry

This project aims to improve financial reporting and audit processes by facilitating the removal of redundant and manual reporting, identifying opportunities for automation, and ensuring accurate data entry. The FY19 reporting model will be tested and compared against actual agency reported data.

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Improving Financial Reporting and Audit Model – Data Entry

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  1. Improving Financial Reporting and Audit Model – Data Entry Luke Sheppard May 2019

  2. Facilitate the removal of the closing package • Reduce redundant reporting • Reduce manual reporting required by entities • Identify gaps in reporting model that could be automated in the future • IFRAM – Project Goal for FY19

  3. Previous to FY19 • GTAS ATB Submission Transferred to GFRS • GFRS Manual Data entry for notes • Closing Package Sign off in Approvals Module • Closing Package attached in GFRS and Sent to OMB Max for collection • IFRAM – History

  4. GTAS Data Submitted and Certified • GTAS Creates FS and Notes data (ones that can be crosswalked) • FRAD Accountants use this data to assist in data entry into our internal system • A-136 Note 44 (Reclassification Adjustments of AFR due to FR Compilation) is a key point in removing the need for the Closing Package for FY19 • FRAD accounts use these sources to manually fill out Entity note data • IFRAM – FY19

  5. Fiscal Service will use a data hierarchy when determining priority of data usage • Priority Order • Notes Crosswalk (GTAS) • AFR 1-1 • Agency Data Calls/Communications • Data Heirarchy

  6. Fiscal Service will conduct a Dry run of this reporting model June 3rd – June 14th • Identify gaps in reporting • Estimate workload • Establish Correct Agency POCs for each note • Ensure process captures complete and accurate data • Compare to actual agency reported note data from GFRS • Dry Run (FY 18 Data)

  7. Agency POC availability • Please provide contacts who will be available during business hours so that communication of issues is smooth • Dry Run Participation • June 3rd – June 14th • FYE 19 • November 20th – December 6th • Keys for Success

  8. GTAS ATB/Notes Crosswalk Questions • Luke.Sheppard@fiscal.treasury.gov • Andrew.Morris@fiscal.treasury.gov • FR Notes Subject Matter and Content Questions • Melissa.Williams@fiscal.treasury.gov • Michael.Conley@fiscal.treasury.gov • Questions

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