USSGL Multi-line Project for FY 2010

1. USSGL Multi-line Project for FY 2010 Presented by Christine Chang USSGL Board Meeting May 14, 2009

2. Current USSGL Xwalk provides USSGL accounts with “Additional Information” directing user to populate the financial statement line with specific activity within the account. Under GTAS, data from “Additional Information” that describes more than one activities will not be captured. Therefore, without additional accounts, accounts going to multiple lines of the financial statement will have problems. Why are we adding new accounts?

3. Example - Account 1340, Interest Receivable Current OMB A136 requires agencies to report interest receivable as a component of appropriate assets • Currently USSGL crosswalks provide • additional information to segregate different • activities reported in the same USSGL • account: • 1340 Interest Receivable • Investments • Accounts Receivable A.I. • Loans Receivable • Multi line • GTAS will not know where account 1340 - • Interest Receivable should be reported. • Line 8 (Investments) • Line 9 (Accounts Receivable) • Line 11 (Loans Receivable) New Accounts are Added for 2010 To meet OMB A136 reporting requirements, agencies are already segregating one activity from another activity in the same account. They may be using sub accounts or other ways to capture this information.

4. New Accounts for fiscal 2010 Current USSGL Account: 1349 – Allowance For Loss on Interest Receivable Current USSGL Account: 1340 – Accounts Receivable • 1345 – Allowance for Loss on Interest • Receivable – Loans • 1346 – Allowance for Loss on Interest • Receivable –Investments • 1347 – Allowance for Loss on Interest • Receivable –Not Otherwise Classified • 1348 – Allowance for Loss on Interest • Receivable – Taxes • 1349 - Deleted • 1340 – Interest Receivable – Not • Otherwise Classified • 1341- Interest Receivable – Loans • 1342 – Interest Receivable - Investments • 1343 – Interest Receivable – Taxes

5. New Accounts for fiscal 2010 Current USSGL Account: 1369 - Allowance for Loss on Penalties Fines, and Administrative Receivable Current USSGL Account: 1360 – Penalties, Fines and Administrative Fees Receivable • Nonexchange • 1365 – Allowance for • Loss on Penalties • And Fines Receivable – • Loans • 1367 - Allowance for • Loss on Penalties • And Fines Receivable – • Not Otherwise Classified • 1368 - Allowance for • Loss on Penalties • And Fines Receivable – • Taxes • 1369 - Deleted • Exchange • 1375 – Allowance for • Loss on Administrative • Fees Receivable – • Loans • 1377 - Allowance for • Loss on Administrative • Fees Receivable – • Not Otherwise • Classified • 1378 - Allowance for • Loss on Administrative • Fees Receivable – • Taxes • Exchange • 1370 – Administrative • Fees Receivable – • Not Otherwise • Classified • 1371- Administrative • Fees Receivable – • Loans • 1373 – Administrative • Fees Receivable – • Taxes • Nonexchange • 1360 – Penalties and • Fines – Not Otherwise • Classified • 1361 – Penalties and • Fines Receivable – • Loans • 1363 – Penalties and • Fines Receivable – • Taxes

6. New Accounts for fiscal 2010 Current USSGL Account 5329 – Contra Revenue for Penalties, Fines And Administrative Fees Revenue Current USSGL Account 5320 – Penalties, Fines and Administrative Fees Revenue • 5324 – Contra Revenue for Penalties and • Fines (Nonexchange) • 5329 – Contra Revenue for Administrative • Fees (Exchange) • 5320 – Penalties and Fines Revenue • (Nonexchange) • 5325 – Administrative Fees Revenue • (Exchange)

10. Capital Transfer Presented by Christine Chang USSGL Board Meeting May 21, 2009

11. What is Capital Transfer Generally capital transfer is a revolving fund transaction. The transfer is made to designated miscellaneous receipt accounts: 1. 1610 Category – Government – Owned enterprise accounts • 1613 Dividends on capital Stock • 1614 Other earnings from business operations and intragovernmental revolving funds 2. 2810 Repayment of Capital Investment accounts • 2813 Repayment of Capital Stock • 2814 Other repayments of investments and recoveries

12. New accounts for fiscal 2010 • 5756 – Nonexpenditure Financing Sources Transfers – In – Capital Transfers • 5766 – Nonexpenditure Financing Sources Transfers – Out –Capital Transfers • 5792 – Financing Sources To be Transferred Out – Contingent Liability

13. Why don’t we use USSGL 5755 and 5765 for capital transfer? • The funds using current USSGL accounts 5755 and 5765, “Nonexpenditure Financing Sources Transfer In/Out” will have budgetary impact. • Capital transfers – only the transferring out fund will have the budgetary impact.

14. Why don’t we use the USSGL 5755 and 5765 for capital transfer? 5755 – Nonexpenditure Financing Sources – Transfer In 5765 – Nonexpenditure Financing Sources – Transfer Out Budgetary Non Budgetary (Miscellaneous receipt) Capital Transfer Out (proposed account 5766) Capital Transfer In (proposed account 5756)

15. What is “Financing Sources to be Transferred Out – Contingent Liability”? USSGL account 5792 – Financing Sources to be Transferred Out – Contingent Liability Associated with the future nonexpenditure capital transfer to the General Fund. Not a cost DR 5792 Financing Sources to be T/O – CL XX CR 2920 Contingent Liability XX

16. Why do you record contingent liability for capital transfer? If a fund manager determines that at some point in the future it is probable that the fund will repay the appropriation and the 3 conditions for contingent liability are met: Then contingent liability associated with the capital transfer should be recognized. Past Event has Occurred (Received app) Future outflow of Resource is probable (Repayment of app) Amount is known

17. What are the other changes? • For fiscal 2010 USSGL accounts 5755 and 5765 titles and definitions are changed. • The title will now have “Other” added Nonexpenditure Financing Sources Transferred in/out – “Other” • The definitions will now specifically exclude capital transfers.

18. New Accounts and Their Impact on the Financial Statements