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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

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The Redistribution of Clearing Accounts and Certain Miscellaneous Receipt Accounts

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  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

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