1. General Fund Reporting Entity USSGL Accounts USSGL Board Presentation May 3, 2012

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

3. Why the General Fund? Financial Report of the U.S. Government GAO Audit Finding Unreconciled Differences Process - Financial Report 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 financial reporting consolidation process Identifies the materiality of the unreconciled differences Matching of reciprocal categories and identifies areas of improvement 3

4. Fiscal 2014 Reporting 4 General Fund Accounts Proposed accounts for the General Fund of the Treasury (14 USSGL accounts) Memorandum Account Series Reserved for the Department of Treasury - Central Summary General Ledger (USSGL accounts 810000 through 879900 series) Technical Change to current memorandum USSGL accounts 810100 and 820100. These accounts numbers will move to: Partial or Early Cancellation of Authority (USSGL account 809100) Offset for Partial or Early Cancellation of Authority (USSGL account 809100)

5. Proposed General Fund Accounts 5 Account No.Title Assets 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 Liabilities 201000Liability for Fund Balance With Treasury

6. Proposed General Fund Accounts (con’t) 6 Account No.Title Net Position 320000Appropriations Outstanding - Cumulative 320100Appropriations Outstanding – Warrants Issued 320600Appropriations Outstanding – Adjustments Revenues and Other Financing Sources 571000Transfer in of Agency Unavailable Custodial and Non-Entity Collections 571200Accrual of Agency Amounts to be Collected - Custodial and Non-Entity Gains/Losses/Miscellaneous Items 771000Trust Fund Warrants Issued Net of Adjustments

7. Memorandum Accounts 7 Account No.Title 809100 Partial or Early Cancellation of Authority 809200 Offset for Partial or Early Cancellation of Authority 810000 through 8799000 Reserved for the Department of Treasury – Central Summary General Ledger

8. General Fund Operating Cash Illustrations 8

9. 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 9 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

10. 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 10 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