1. Intragovernmental Business Rules June 1, 2009

2. Office of Management and Budget (OMB) Bulletin 2007- 03 regarding intragovernmental business rules became effective October 1, 2006 Rules are mandatory for all Departments and Agencies Rules apply to all intragovernmental business transactions Intragovernmental Busines Rules

3. Buyers and Sellers (Trading Partners) negotiate the exchange of goods or services and create an Inter-Agency Agreement Implementing standardized procedures will facilitate the reconciliation of intragovernmental balances and help resolve a material weakness of the U.S. Consolidated Financial Statements

4. Required Information on Agreement Agreement Number Treasury Account Symbol (TAS) for both Trading Partners Business Event Type Code (BETC) for both Trading Partners Agency Location Code (ALC) for both Trading Partners BPN number for both Trading Partners Signatures of both Trading Partners Effective date and period of performance

5. Required Information on Agreement Purpose or description of services Amount and method of payment Frequency of billing If applicable, provision for advance payments Accounting/finance office point of contact information, such as name, location, and telephone number Any special accounting data that needs to be on the IPAC or other billing documents, in order for the bill to be accepted by the receiving agency

6. The Buyer’s accounting system should capture all detailed transactions associated with the order At least quarterly, the Buyer should accrue expenses for goods/services that have been received but not billed The Buyer should monitor the activity and age of the order The Buyer should determine the reason for inactivity and inform the seller of the intent to deobligate the remaining funds once complete Buyer Responsibilities

7. Seller Responsibilities The Seller’s accounting system should capture all detailed transactions associated with the order At least quarterly, the Seller should accrue revenue consistent with generally accepted accounting principles

8. Method of Payment Electronic payments are required between Federal Government agencies The standard payment method is through the Intra- Governmental Payment and Collection (IPAC) system

9. Procurement Requirements Federal agencies that acquire or provide goods/services to other federal agencies, must do the following: -- Obtain a Data Universal Numbering System (DUNS) number -- Register in the BPN Federal Agency Registration (FedReg) system

10. The full text of Bulletin No. 2007-03 regarding Intragovernmental Business Rules can be viewed online at: www.fms.treas.gov/goals/ipac/07-03.pdf