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USSGL Board Meeting 4/26/20071 U.S. Treasury Zero Coupon Bonds (ZCB)

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Presentation on theme: "USSGL Board Meeting 4/26/20071 U.S. Treasury Zero Coupon Bonds (ZCB)"— Presentation transcript:

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2 USSGL Board Meeting 4/26/20071 U.S. Treasury Zero Coupon Bonds (ZCB)

3 USSGL Board Meeting 4/26/20072 U.S. Treasury Zero Coupon Bonds (ZCB) but  The amortization of discounts and market adjustments for ZCB are counted as a budgetary resource but they are unavailable for/precluded from obligation.  Two Treasury Appropriation Fund Symbols (TAFS) are currently holding ZCB. 1 Special Fund 1 Trust Revolving Fund

4 USSGL Board Meeting 4/26/20073 U.S. Treasury Zero Coupon Bonds (ZCB) Special and Non-Revolving Trust Funds The same budgetary accounts are used to record amortization and market adj. for a ZCB 4114 Appropriated Trust or Special Fund Receipts 4394 Receipts Unavailable for Obligation Upon Collection

5 USSGL Board Meeting 4/26/20074 U.S. Treasury Zero Coupon Bonds (ZCB) Special and Non-Revolving Trust Funds Entry to record amortization of a discount on a ZCB 4114 Appropriated Trust or Special Fund Receipts 4394 Receipts Unavailable for Obligation Upon Collection 1633 Amortization of Discount U.S. Zero Coupon Bonds Issued by Public Debt 5311 Interest Revenue - Investments

6 USSGL Board Meeting 4/26/20075 U.S. Treasury Zero Coupon Bonds (ZCB) Special and Non-Revolving Trust Funds Entry to record market adjustment on a ZCB 4114 Appropriated Trust or Special Fund Receipts 4394 Receipts Unavailable for Obligation Upon Collection 1638 Market Adjustment – Investments in U.S. Treasury Zero Coupon Bonds 1639 Contra Market Adjustment – Investments in U.S. Treasury Zero Coupon Bonds

7 USSGL Board Meeting 4/26/20076 U.S. Treasury Zero Coupon Bonds (ZCB) Trust Revolving Funds Proposed Budgetary USSGL account to record amortization and market adj. Account Title: Amortization and Market Adjustment - Investments in U.S. Treasury Zero Coupon Bonds Account Number: 4290 Normal Balance: Debit

8 USSGL Board Meeting 4/26/20077 U.S. Treasury Zero Coupon Bonds (ZCB) Trust Revolving Funds The same budgetary accounts are used to record amortization and market adj. for a ZCB 4290 Amortization and Market Adjustment –Investments in U.S. Treasury Zero Coupon Bonds 4398 Offsetting Collections Temporarily Precluded From Obligation

9 USSGL Board Meeting 4/26/20078 U.S. Treasury Zero Coupon Bonds (ZCB) Trust Revolving Funds Entry to record amortization of a discount on a ZCB 4290 Amortization and Market Adjustment – Investments in U.S. Treasury Zero Coupon Bonds 4398 Offsetting Collections Temporarily Precluded From Obligation 1633 Amortization of Discount U.S. Zero Coupon Bonds Issued by Public Debt 5311 Interest Revenue - Investments

10 USSGL Board Meeting 4/26/20079 U.S. Treasury Zero Coupon Bonds (ZCB) Trust Revolving Funds Entry to record market adjustment on a ZCB 4290 Amortization and Market Adjustment – Investments in U.S. Treasury Zero Coupon Bonds 4398 Offsetting Collections Temporarily Precluded From Obligation 1638 Market Adjustment – Investments in U.S. Treasury Zero Coupon Bonds 1639 Contra Market Adjustment – Investments in U.S. Treasury Zero Coupon Bonds

11 USSGL Board Meeting 4/26/ U.S. Treasury Zero Coupon Bonds (ZCB) Crosswalk Impacts of USSGL 4290:  SF 133 Report on Budget Execution and Budgetary Resources: Line 3D1A Spending authority from offsetting collections, Earned, Collected  Budget Program and Financing (P&F) Schedule Line 5800 Spending authority from offsetting collections Line 8820 Interest on Federal securities

12 USSGL Board Meeting 4/26/ U.S. Treasury Zero Coupon Bonds (ZCB) Other Crosswalk Impacts:  FMS 2108 Yearend Closing Statement Column 6 For Treasury Appropriation Fund Symbols With Unamortized Discounts or Premiums (USSGL 1633 with RT7 931)

13 USSGL Board Meeting 4/26/ U.S. Treasury Zero Coupon Bonds (ZCB)

14 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority

15 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority Justification for new account: To separate appropriation authority that is canceled early, from appropriation authority canceled 5 years after the expiration of an annual or multiyear appropriation.

16 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority Proposed Budgetary USSGL account: Account Title: Partial or Early Cancellation of Authority With a U.S. Treasury Warrant Account Number: 4351 Normal Balance: Credit

17 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority USSGL 4351 is reclassified to 8101 in a closing entry Partial or Early Cancellation of Authority With a U.S. Treasury Warrant 4201 Total Actual Resources – Collected 8102 Offset for Partial or Early Cancellation of Authority 8101 Partial or Early Cancellation of Authority

18 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority Crosswalk Impacts of USSGL 4351:  SF 133 Report on Budget Execution and Budgetary Resources Line: Line 6A Permanently not available: Cancellations of expired and no-year accounts  FMS 2108 Yearend Closing Statement not Will not crosswalk because a U.S. Treasury warrant is processed

19 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority Crosswalk Impacts of USSGL 4351(cont’d):  Budget Program and Financing (P&F) Schedule Line 2398 Unobligated balance expiring or withdrawn

20 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority Revisions to current USSGL accounts: Account Title: Canceled Authority Account Number: 4350 Normal Balance: Credit

21 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority Revisions to current USSGL accounts: Current Account Title: Partial Authority Cancellation Proposed Account Title: Partial or Early Cancellation of Authority Account Number:8101 Normal Balance:Credit

22 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority Revisions to current USSGL accounts: Current Account Title: Offset for Partial Authority Cancellation Proposed Account Title: Offset for Partial or Early Cancellation of Authority Account Number:8102 Normal Balance:Debit

23 USSGL Board Meeting 4/26/ Partial and Early Cancellation of Authority Contact Info: Michele Crisman

24 USSGL Board Meeting 4/26/ Capitalized Loan Interest New USSGL Accounts (Effective Fiscal 2008)  1351 Capitalized Loan Interest Receivable – Non-Credit Reform  2511 Capitalized Loan Interest Payable – Non-Credit Reform

25 USSGL Board Meeting 4/26/ USSGL Crosswalk Impact  Balance Sheet Assets, Intragovernmental  Line 4: Loans Receivable (1351E)  Line 3.5 (Reclassified BS) Liabilities, Intragovernmental  Line 18: Debt (2511E)  Line 7.4 (Reclassified BS) Capitalized Loan Interest

26 USSGL Board Meeting 4/26/ Capitalized Loan Interest Modified USSGL Accounts  7112 Gains on Disposition of Borrowings  7212 Losses on Disposition of Borrowings Justification: Expanded to include other than FFB gains/losses

27 USSGL Board Meeting 4/26/ Miscellaneous Ballot Items Modified USSGL Accounts  4510 Apportionments  4610 Allotments – Realized Resources Justification: References to Apportionment Categories not needed


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