1. General Fund Reporting Entity USSGL Accounts IRC Meeting April 26, 2012 Revised 4/30/12

2. Table of Contents Overview General Fund Accounts General Fund Illustrations 1

3. Overview The General Fund is the central activity that tracks Congressionally issued Budget Authority Cash Treasury issued Debt and Borrowings 2

4. Why the General Fund? Financial Report (FR) of the U.S. Government GAO Audit Finding Unreconciled Differences Process - FR preparation General Fund Reporting and Analysis Audited General Fund information that will be reported in the Governmentwide Financial Report System (GFRS) Provides for a more complete accounting of the Government’s financial activity. Enables a conventional FR consolidation process Identifies the materiality of the unreconciled differences Proper matching of reciprocal categories and identifies areas of improvement 3

5. Proposed General Fund Accounts 4 Account No.Title 110100General Fund Operating Cash 110300Restricted Operating Cash 110900Checks Outstanding 114500Cash Held Outside the Treasury’s General Account 125000Central Accounting/Agency Reconciliation Account 198000Asset for Agency’s Custodial and Non-Entity Liabilities 199900Central Accounting Control Account 201000Liability for Fund Balance with Treasury 320000Appropriations Outstanding - Cumulative 320100Appropriations Outstanding – Warrants Issued 320600Appropriations Outstanding – Adjustments

6. Proposed General Fund Accounts (con’t) 5 Account No.Title 571000Transfer in of Agency Unavailable Custodial and Non- Entity Collections 571200Accrual of Agency Amounts to be Collected - Custodial and Non-Entity 575700Unexpended Appropriations and Nonexpenditure Financing Sources – Transfers-in to the General Fund 576700Unexpended Appropriations and Nonexpenditure Financing Sources – Transfers-out to the General Fund 771000Trust Fund Warrants Issued Net of Adjustments Revised 4/30/12

7. General Fund Illustrations 6

8. Agency Financial Institution (CashLink II) Bank reported settled at the FRB Confirmed deposit detail by ALC transcript Deposit with Agency Location Code (ALC) Statement of Transactions 7 Monthly reconciliation from Treasury’s Central Accounting System Treasury’s General Account (TGA) FRB NY (operating cash) General Fund Operating Cash - Collections Treasury’s Central Accounting Posts deposits and updates fund balance Compares Statement of Transactions and Accountability deposit amounts to banking system amounts Generates Statement of Difference when Statement of Transactions deposit amounts do not equal banking deposit amounts Request for settlement of funds SOD Deposits in Transit

9. Confirmed check issue data Statement of Transactions Treasury’s Central Accounting General Fund Operating Cash – Check Payments FMS Regional Finance Centers for Treasury Disbursing Officers by ALCs Posts classified payments and updates fund balance Compares Statement of Transactions and Accountability payment amounts to RFC payments and IPAC amounts Generates Statement of Difference when Statement of Transactions payment amounts do not equal RFC payment and IPAC amounts Agency 8 Request for check payment Check payment Treasury’s General Account (TGA) FRB NY (operating cash) Payee Cashes check SOD Undistributed Monthly reconciliation from Treasury’s Central Accounting System Bank reported settled at the FRB

10. Central Accounting/Agency Reconciliation Account 9 $100,000$95,000 125000 CashLinkII (i.e. deposits) The detailed source of data is from Agency and bank reporting. This account should maintain a zero balance. CTA * (FMS-224) Statement of Transactions Accountability Code Activity (Sections 2 or 3) *Classification Transactions and Accountability (CTA) – system used by Agencies to report their monthly accounting activity to Treasury, FMS. The CTA FMS-224 monthly reports transmitted to Treasury serve as a basis for Treasury’s publication to Congress and the public regarding federal receipts and outlays. Note: For questions concerning the Statement of Differences, agencies should contact FMS, Cash Analysis Branch at (202)874-8270. This example represents a collection.

11. Central Accounting Control Account 10 $100,000 CTA * (FMS-224) Statement of Transactions (Section 1) 199900 CTA * (FMS-224) Statement of Transactions Accountability Code Activity (Sections 2 or 3) The detailed source of data is from Agency reporting. This account should maintain a zero balance. * Classification Transactions and Accountability (CTA) – system used by Agencies to report their monthly accounting activity to Treasury, FMS. The CTA FMS-224 monthly reports transmitted to Treasury serve as a basis for Treasury’s publication to Congress and the public regarding federal receipts and outlays. This example represents a collection.

12. Questions 11