Feca Procedure Manual Part 6

This Treasury Financial Manual (TFM) chapter prescribes how federal entities provide data for the Financial Report of the United States Government (FR) using the Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS) along with additional details from the audited department-level financial statements. This chapter also includes the federal entities included in the FR, Intragovernmental Transactions (IGT) process, and requirements for submitting pre-closing GTAS Adjusted Trial-Balance (ATB). Please refer to Office of Management and Budget (OMB) Circular No.

A-136 for the reporting requirements for federal entities' audited financial statements.This TFM chapter does not include all reporting requirements for GTAS. Additional information can be found on the website.Section 4701—Scope and ApplicabilityAll federal entities must provide Fiscal Service with the required fiscal year-end data that is used to prepare the FR. All federal entities (Significant or Other) must submit GTAS ATB data and manual adjustments to reconcile to the federal entity’s audited department-level financial statements and the reclassified financial statements, which provides the connection to the data in the FR.The Chief Financial Officer (CFO) or CFO’s designee of each Significant Entity must review the approval of manual adjustments in GTAS, journal vouchers processed at the governmentwide level on the federal entities audited data, and intragovernmental certifications. Fiscal Service will send a data call to the 40 Significant Entities, and select Other Entities, requesting that the CFO of each federal entity designate the certifying officials for various required year-end functions. The CFO certifications form, which lists each designee from the data call, must be signed by the federal entity’s CFO. Significant Entities with a year-end other than September 30 are subject to alternate audit procedures as outlined below in subsection 4705.25.Federal entities must submit pre-closing GTAS ATB via the GTAS application. Federal entities must submit a GTAS ATB for each Treasury Account Symbol (TAS) level using proprietary and budgetary USSGL accounts (see the website for fiscal year (FY) 2019 reporting).Fiscal Service compiles the information from the GTAS submissions for all federal entities into a set of reclassified financial statements (reclassified Balance Sheet, reclassified Statement of Net Cost, and reclassified Statement of Changes in Net Position) that are included in the consolidated FR.

Please refer to subsection 4705.20d of this chapter and OMB Circular A-136 for supplemental information on sustainability financial statements.Reporting requirements in this chapter are grouped as follows:. Section 4705 includes FR data requirements,. Section 4706 includes intragovernmental requirements, and. Section 4707 includes GTAS requirements.4701.10—Reporting EntityPurposeTo provide the Federal Accounting Standards Advisory Board’s (FASAB) Statements of Federal Financial Accounting Standards (SFFAS) No. 47, Reporting Entity determinations received by the federal entities, reviewed by the Working Group, and approved by the SFFAS No. 47 Steering Committee. The determinations are listed in Appendix 1b (Consolidated Entities included in the governmentwide financial statements, Disclosure Entities, and Related Parties).BackgroundAn initial questionnaire was designed for implementation by compiling the key deciding factors throughout FASAB Standard No.

47, and listing them in branch logic sequence. The document referenced the corresponding paragraphs in SFFAS No.

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47 with each question. The questionnaire asked for the component reporting entity to be identified. Upon completion of the survey, the entity was led to a reporting determination of consolidation entity (included in the governmentwide financial statements), disclosure entity (included in the governmentwide financial statements), related party, or not required to report. For FY 2019, consistent with Appendix C of SFFAS No. 47, the survey now requires component entities to document the rationale for their determinations as to other entities for each entity considered. It also requires entities to specify whether any other entities are component thereof (i.e., consolidation or disclosure), a related party or do not meet the criteria of SFFAS No. 47.The survey supported the following determinations.:.

Component Reporting Entity—is used broadly to refer to a reporting entity within a larger reporting entity. Examples of component reporting entities include organizations such as executive departments, independent entities, government corporations, legislative entities, and federal courts.

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Component reporting entities would also include sub-components (those components included in the financial statements of a larger component reporting entity) that may themselves prepare financial statements.