Presentation on theme: "USDA Rural Development National Financial and Accounting Operations Center St. Louis, MO Last updated 2/3/15."— Presentation transcript:
1 USDA Rural Development National Financial and Accounting Operations Center St. Louis, MO Last updated 2/3/15
2 National Financial and Accounting Operations Center The National Financial and Accounting Operations Center (NFAOC) organization is responsible for providing expert financial and portfolio management support to businesses. Current services include accounting and reporting activities for Rural Development’s and Farm Service Agency’s portfolio of direct loans, guaranteed loans, and grant programs.The NFAOC web page on the Rural Development intranet is located at:
4 Financial Management Systems Utilized National Financial andAccounting Operations CenterPFCS – Program Funds Control SystemGLS – Guaranteed Loan SystemDLS – Direct Loan System *PLAS – Program Loan Accounting SystemAMAS – Automated Multi-Housing Accounting SystemCLSS – Commercial Loan Servicing SystemRET – Rural Electric and TelephoneFFB – Federal Financing BankFMMI – Financial Management Modernization InitiativeDLOS – Dedicated Loan Origination System**DLOSPFCSFFBRETFMMIGLSAMASPLASCLSSNFAOCDLS* Managed and operated by Farm Service Agency** Managed and operated by RHS, CSC. Financial data supports NFAOC financial reporting.
5 Portfolio Management Direct Loan Division Multi-Housing portfolio management includes assistance with problem accounts, payment application, and assistance with delinquent account servicing.Rural Utility portfolio management includes assistance with discounted prepayments, basis date agreements, short term maturity rollovers, variable interest rate updates, and delinquent account servicing.
6 Portfolio Management Direct Loan Division Community Facility, Business and Industry, Water and Environmental, Intermediary Relending, and Rural Economic Development portfolio management includes assistance with statement of accounts, loan closings, loan reconciliation/ special servicing issues, correction of payment application and delinquent account servicing.Farm Loan Program portfolio management includes assistance with statement of accounts, problem case resolution, correction of payment application, delinquent account servicing, and servicing concerns.Assist Program Staff in design and implementation of new system initiatives.
7 Portfolio Management Guaranteed Loan Division Process GLS Obligation Changes, Guarantee Fees, and Lender Changes.Maintain GLS Lender File.Process Losses and Recoveries, Purchases, Appraisals, and Interest Assistance.Process or assist with Reamortizations, Consolidations, Transfer and Assumptions, and other servicing transactions.Process Offset Collections, Refunds and Write-offs.
8 Portfolio Management Guaranteed Loan Division Administer User Agreements and Agreements for Electronic Transactions with Lenders.Administer Security For LINC (Lender Interactive Network Connection).Establish Lender Access to Credit Alert Verification Reporting System (CAIVRS).Administer and Monitor all GLS Status Reporting.Assist Program Staff in design and implementation of new system initiatives.
9 Portfolio Management Program Reporting Division Coordinate, monitor and process debt management and collection activities for:Debt Collection Act and Debt Collection Improvement ActTreasury Offset Program and Credit Bureau ReportingCross Servicing and Credit Alert Verification Reporting SystemPrepares Treasury Report on Receivables
10 Portfolio Management Program Reporting Division Prepares cohort level cash flow data used to calculate annual reestimates.Prepares program assumptions used to calculate program subsidy rates.Works with program staff and the Budget Division to determine policy decisions impact on program costs
11 Portfolio Management Program Reporting Division Coordinates, reviews, and distributes calendar yearend documents and management reportsConducts semi-annual unliquidated obligation certification reviewsProvides responses to ad-hoc reporting and Freedom of Information requestsPrepares the Management Discussion and Analysis for the financial statements
12 Financial Operations Division Financial ManagementFinancial Operations DivisionProcess collections for Direct and Guaranteed loans.Wholesale LockboxLocal DepositsFedwireNational Receipts & Receivables SystemCollection methods include:Preauthorized DebitsCustomer Initiated PaymentRetail LockboxRemittance Express
13 Financial Operations Division Financial ManagementFinancial Operations DivisionCertify disbursements for direct loans, grants, cost item payments, guaranteed losses and repurchases.Process activity for Treasury borrowings and repayments for the direct and guaranteed programs.Prepare daily and monthly reconciliations of cash transactions with Treasury.
14 Financial Operations Division Financial ManagementFinancial Operations DivisionBalance and maintain data integrity within the various financial management systems.Authorizes all accountings systems to be opened for normal business for Rural Development and Farm Service Agency offices nationwide.
15 Financial Reporting Division Financial ManagementFinancial Reporting DivisionServes as the national centralized accounting and financial reporting operation for Rural Development loan and grant programs and Farm Service Agency’s Farm Loan Program.Prepare audited financial statements required by the Chief Financial Officers’ Act of 1990 as expanded by Government Management Reform Act of 1994.Perform analysis and statistical reporting in compliance with the Credit Reform Act of 1990.Provides budget formulation and execution for all administrative programs for Rural Development.
16 Financial Reporting Division Financial ManagementFinancial Reporting DivisionPerform analysis related to financial data for special congressional inquiries and requests from the Office of Management and Budget (OMB).Maintain fund control systems for obligations and disbursements for all loan and grant programs.Financial Management Modernization Initiative (FMMI):Track administrative (Salaries and Expense), Program Loan Cost Expenses, and certify unliquidated obligations.Provide support to field and national office staff.
17 Financial Reporting Division Financial ManagementFinancial Reporting DivisionReport and reconcile the status of allotments, obligations, unobligated allotments, and unliquidated obligations.Coordinates with departmental organizations on the reporting, reconciliation, and certification of various requirements, such as on the Federal Funding Accountability & Transparency Act.Evaluates new or revised regulatory and program guidance, identifying the impact on allotment ledger, general ledger, and financial reporting functions.
18 Financial Management Mission Support Division Three shift operationExecutes nightly updates of financial management systems. Over 39 million transactions are updated annually.Supports Rural Development, Farm Service Agency and National Resource Conservation Service.Transmits secured electronic files to Treasury, NITC mainframe support.
19 Financial Management Mission Support Division Schedules nationwide availability of computer terminals.Prints and mails hardcopy reports, customer/borrower correspondence, billings, and IRS reports.Over 33 million pieces of mail are metered each year.Over 16.7 million pieces of loan correspondence and reports are converted to electronic format (Efiche) each year.
20 Planning & Accountability Staff Overall planning related to Government Performance and Results Act (GPRA) reporting.Develop & administer administrative budget for the NFAOC.Preparation and/or review new business proposals, service contract agreements, and automation initiatives.Development of Continuity of Operations Plan (COOP) and Occupant Emergency Plan (OEP).Transformation planningProgram evaluation
21 Internal Control & Initiatives Staff Ensure accounting operations and financial systems comply with Legislative, Regulatory, and Program Guideline.Ensure internal controls comply with OMB Circular A-123, Management’s Responsibility for Internal Control, for all RD offices.Coordinate all external audits performed by OIG, GAO, and other investigative offices related to NFAOC operations and Bureau financial statements.Prepares the fiscal plan and coordinates all fiscal yearend activities to ensure activities are executed as scheduled.Manages and coordinates all system automation initiatives.
22 FY 2014 AccomplishmentsEstablished the NFAOC by successfully reassigning all staff into the organization and completing labor negotiations addressing AFGE concerns.Completed three rounds of critical hiring to move toward our limited ceiling of 244 FTE.Completed physical movement of NFAOC employee into temporary office space and initiated remodel effort in line with the USDA initiative to reduce office space.
24 RD – Upcoming Software Enhancements PLAS/GLS/CLSS – removal of 6 day reservation period for BP/CF/WW obligations – testing will begin soon
25 RD – Guaranteed Rural Housing (GRH) National Office Update on GRH 3555 Handbook12/9/2013 – Rule Publication creating the GRH 3555 handbook12/1/2014 – GRH 3555 handbook publishedUpdates are currently being completed on specific chapters
26 FSA – Upcoming Software Enhancements EFT – timeframe for automated pre-note validation will be reduced from 14 to 3 days (estimated implementation – Spring 2015)GLS – ability to add multiple co-borrowers to applications (project kickoff February 2015)
27 FSA - Guaranteed Loan Items Reduced processing timeframes in ECM (most transactions will be processed within 5 days of assignment)Form 2249, Request For Restructuring Guaranteed Loans, must be used when loan terms are modified (Form 2247, Guaranteed Loan Borrower Adjustments, should only be used when an input error occurs on the loan closing)
28 FSA – Direct Loan ItemsRequest for Change in Application, Form FSA-2429Corrections should be submitted via NRRS.Do not submit hard copiesReceipt and Completion letters are not sent on item submitted through NRRSInquiries should be made via or phone callPre-Authorized Debit (PAD) - pilot starting spring 2015A means for the NFAOC to electronically collect loan payments from a borrower’s accountCash Management Collections Branch (CMCB) is responsible for setting-up, changing, correcting, and cancelling PAD agreements. Questions:PAD Form RD may be faxed. The web address for the fillable form is select form
29 USDA Rural Development National Financial and Accounting Operations Center St. Louis, MO
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