Use of Central Accounting Data

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Use of Central Accounting Data

• March 21, 2007
• Presenter David Burgman

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Three Types of Reporting Inconsistencies

• 1. Inconsistent data in Agency Statements vs.
  the FR. (GFRS addresses)
• 2. Inconsistent data in agency financial
  statements vs. agency monthly reporting to
  Treasury. (Not addressed)
• 3. Agency financial statement data not
  consistent with USSGL. (Not addressed)

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Use of Central Accounting Data - UCAD

• Purpose
• To Improve interagency eliminations by providing
  agencies a tool to reconcile transactions and
  balances directly to Treasury Central Accounting
  data
• Benefit
• To address the reporting inconsistencies( 2
  3) by matching with the Treasury Central
  Accounting data (one-to-one relationship from
  Central Accounting System to year-end financial
  reporting)

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Authoritative Source

• Auditors routinely use the records of banks and
  similar institutions when performing audits of
  private sector institutions, especially for cash
  and related assets.
• FMS central accounting system acts as the bank
  for federal agencies. It is the authoritative
  source for

• FBWT
• CIHO
• Investments
• Borrowing Activity
• Net Outlays

• Non-Expenditure Transfers
• Appropriation Warrants

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Current Transfers Categories
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FY 2007 Transfers Categories
RC 19 28 are deleted
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Current Reconciliation Process
Agency B IRAS Reports
Agency A IRAS Reports
IRAS
IRAS compares agency reporting and notifies both
of mismatches. Agencies review their own data and
claim they are correct. The out of balance
condition remains.
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Future Reconciliation Process
STAR/GWA
Agency B FIRST Reports
Agency A FIRST Reports
Trial Balances are compared to the number in
Central Accounting System, which is approved by
both agencies and can be rejected if different.
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FY 2007 Reporting

• Effective 3rd Quarter of FY 2007
• Changes will be in FY 2007 TFM and
  Intragovernmental Accounting Policy Guide

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Snap Shot Discoverer Viewer
Expenditure Transfers of Financing Sources
Summary Report Detail Report
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Contact

• David Burgman
• 202-874-8538
• David.Burgman_at_fms.treas.go