Federal Trust Fund Accounting Guide.txt

federal trust fund accounting guide introduction trust funds the federal government account structure consists of the following fund types: trust special general revolving and deposit the fund type for the establishment of a new federal account is dependent upon the terms stated in the legislation for example trust funds are established to carry out purposes of a trust agreement or statute the federal budget of the us government groups funds into two major categories: trust funds and federal funds trust funds are those designated by law as such whereby receipts are earmarked for spending on specific purposes the laws establishing trust funds may require balances to be invested typically in treasury debt securities a small number of trust funds are further categorized as trust revolving funds established to perform businesstype operations the accounting for trust revolving funds is similar to that of revolving funds in the federal fund group federal funds include general revolving and special fund types (because deposit funds collect receipts that do not belong to the federal government they are excluded from the federal budget) this guide covers the accounting for federal trust funds only excluding trust revolving funds funding sources for some of the larger dollarvolume trust funds include federal and nonfederal contributions interest on investments taxes premiums state deposits federal fund transfers excise taxes customs duties fines and penalties and user fees these funds generally are deposited in a trust fund receipt account trust funds finance various activities including social insurance payments for individuals (eg social security medicare and unemployment compensation) highway construction and airport and airway development there are also several smaller dollarvolume trust funds established to carry out the terms of gifts or bequests trust fund account structure and designation of availability for trust funds established to collect receipts earmarked for specific spending purposes treasury appropriation fund symbols (tafs) are established as receipt and expenditure accounts receipt accounts are credited with receipts generated by the terms of a trust agreement or statute an example of a tafs trust fund receipt account structure is 20x8000001 the 20 indicates treasury x shows the period of availability 8000 represents the trust fund series and 001 is the type of earmarked receipt expenditure accounts are established to record amounts appropriated from trust fund receipt accounts that are to be expended in carrying out specific purposes according to the terms of a trust agreement or statute several receipt accounts can be associated with a single expenditure account in following the example above the tafs for the trust fund expenditure account structure is 20x8000 receipts are credited to trust fund receipt accounts at the point of collection each receipt account is designated as either available or unavailable for expenditure as indicated in treasurys federal account symbols and titles (fast) book approximately 99 percent of all trust fund receipt accounts are designated as available an available receipt account carries the same symbol as its corresponding expenditure account amounts credited to available receipt accounts are appropriated immediately without further legislative action into the corresponding expenditure account these amounts may then be invested if the legislation prescribes1 a trust funds designation of availability for investment has no bearing on whether it is available for obligation for receipts collected that are not immediately available for obligation the office of management and budget (omb) requires that budget authority and unobligated balances be excluded from the sf 133: report on budget execution and budgetary resources however if the law designates the receipts as available for investment treasury requires that unobligated balances be reported on the ussgl 2108: yearend closing statement this presents a disconnect in the reporting of unobligated balances which treasury and omb acknowledge as a reconciling item receipts classified as available for investment but not obligation are discussed in scenario iii trust fund receipts available for investment but not obligation not all funds received by trust funds are deposited to trust fund receipt accounts for example amounts are credited directly to trust fund expenditure accounts when nonexpenditure transfers occur nonexpenditure transfers are accomplished via an sf 1151: nonexpenditure transfer authorization and include both appropriation and allocation transfers refer to scenario i basic trust fund accounting for further discussion refer to the flowchart at the end of this section for a basic illustration of a trust fund account structure and flow scenario presentation this guide is categorized into eight scenarios the scenarios address specific topics approved by the ussgl board each scenario begins with a narrative describing the events that follow additional scenarios will be forthcoming as guidance is further developed this guide also will be updated periodically to include new and revised ussgl account titles and transaction descriptions the scenarios are as follows: scenario i basic trust fund accounting scenario ii trust fund balances precluded from obligation scenario iii trust fund receipts available for investment but not obligation scenario iv trust fund investments scenario v treasurymanaged trust fund allocation accounts scenario vi trust fund appropriation transfers for specific treasury appropriation fund symbols scenario vii trust funds with contract authority part i: appropriations to liquidate contract authority funded by nonexpenditure transfers scenario viii trust funds with contract authority part ii: transfers of contract authority 1tfm vol i part 2 chapter 1500 states that all trust funds with investment authority are designated as available receipts in the treasury system even if the receipts of the trust fund are not available to the agency for obligation scenario guidelines the following concepts apply to each scenario: the scenarios are not all inclusive of the different types of revenues andor expenses that may be recorded by a trust fund entity the intent is to illustrate the main concepts through basic transactions recorded by trust funds refer to section iii accounting transactions of tfm s20102 (as updated) for a complete listing of ussgl accounts that may be recorded by trust funds section iii is located on the ussgl web site  trust funds may or may not be subject to apportionment apportionments may apply to all or a portion of a trust fund the scenarios vary in nature as to whether the trust fund is subject to apportionment refer to section iii accounting transactions of tfm s20102 (as updated) for a complete listing of transactions  budgetary and financial reports reflect the pertinent lines to be reported based on the individual scenarios for full presentations of the reports and line descriptions refer to the appropriate authoritative guidance (see references section below) references this guide has been developed based on research of current reference materials and input from treasury omb and agency representatives the references listed below should be used in conjunction with this guide to determine the proper accounting and reporting treatment required of each individual federal trust fund the references are as follows: agencys establishing legislation andor annual appropriation language appendix to the budget of the united states government fasabs sffas 7: accounting for revenue and other financing sources omb bulletin 9701: form and content of agency financial statements omb circular a11: preparation and submission of budget estimates omb circular a34: instructions on budget execution and budgetary resources treasury financial manual references us government annual report appendix common terms and abbreviations common terms and abbreviations used in this guide are as follows: atb adjusted trial balance budget appendix to the budget of the united states government fasab federal accounting standards advisory board fast book federal account symbols and titles book facts federal agencies centralized trialbalance system ussgl 2108 yearend closing statement guide federal trust fund accounting guide omb office of management and budget opac online payment and collection system pf program and financing schedule sf 133 report on budget execution and budgetary resources sf 1151 nonexpenditure transfer authorization sffas statements of federal financial accounting standards ussgl united states standard general ledger tafs treasury appropriation fund symbol tar treasury annual report treasury us department of the treasury tfm treasury financial manual b designation used directly after a ussgl account (eg 4114b) to indicate beginning balance required e designation used directly after a ussgl account (eg 4114e) to indicate ending balance required eb designation used directly after a ussgl account (eg 4114eb) to indicate ending minus beginning balance required relevant web sites web sites relating to this guide are as follows: fasab wwwfinancenetgovfinancenetfedfasab omb wwwwhitehousegovomb ussgl https:wwwfiscaltreasurygovfsreportsrefussglussglhomehtm scenario i includes transactions and reports illustrating basic accounting for receipts and collections expenditure transfers nonexpenditure transfers and exchangenonexchange transactions fasabs sffas 7 accounting for revenue and other financing sources prescribes the majority of proprietary accounting contained in this scenario (refer to scenario iv trust fund investments for discussion on investment transactions) a basic concept of trust fund accounting is that trust funds do not use ussgl accounts 3100 unexpended appropriations or 5700 expended appropriations (refer to sffas 7 paragraph 213) at least two justifications support this concept first trust funds do not receive treasury appropriation warrants for which fiscal service form 6200: appropriation warrant is issued from the general fund of treasury as a result of an appropriation act ussgl account 3100 unexpended appropriations generally is associated with these types of warrants instead the source of most trust fund inflows includes receipts and collections that are either deposited directly into trust funds or first collected by a custodial entity second trust fund receipts predominantly consist of tax receipts (eg social security taxes railroad retirement taxes and excise taxes) as well as customs duties fines penalties etc collecting entities such as the internal revenue service and the us customs service collect these receipts and deposit them into treasury general fund receipt accounts sffas 7 states that dedicated tax receipts as well as amounts transferredin from collecting entities should be recorded as revenue not as part of unexpended appropriations (ussgl 3100) furthermore to account for these receipts as revenue and as unexpended appropriations in the same trust fund account would doublecount the amounts as financing sources1 therefore all ussgl trust fund guidance (ie guidance contained within this guide) reflects that ussgl account 3100 unexpended appropriations and corresponding account 5700 expended appropriations are not recorded by trust fund appropriation fund symbols 1 sffas 7 accounting for revenue and other financing sources paragraphs 60 and 213 2 tfm vol i part 2 chapter 2000; omb circular a34 sections 1210 and 1211 (dated november 3 2000) 3 for ussgl account definitions refer to section ii accounts and definitions of tfm s20102 (as updated) ussgl transfer accounts are split between nonexpenditure and expenditure transfers this is because treasury and omb guidance prescribes different reporting requirements for each type of transfer2 the four proprietary ussgl accounts established to account for trust fund transfers are as follows:3 5750 expenditure financing sources transfersin 5755 nonexpenditure financing sources transfersin 5760 expenditure financing sources transfersout 5765 nonexpenditure financing sources transfersout for trust fund transfers the appropriate action would be to either debit or credit the appropriate transfer account rather than record ussgl accounts 3100 andor 5700 nonexpenditure ussgl accounts 5755 and 5765 capture all trusttotrust transfers which by definition are nonexpenditure 4 tfm vol i part 2 chapter 2000 5 refer to tfm vol i part 2 chapter 2000 for the distinction between the different types of nonexpenditure transfers 6 tfm vol i part 2 chapter 2000; omb circular a34 section 1211 (dated november 3 2000) expenditure ussgl accounts 5750 and 5760 capture transfers between trust funds and federal funds (such as an agencys general fund) this by definition is an expenditure transaction6 however these transfer accounts are recorded only if the transfer results from a nonexchange transaction such as a law requiring the transfer if the transaction is exchange in nature then record a revenue or an expense account on the budgetary side for expenditure transfers the entity transferringout must record an outlay and the entity transferringin must record a receipt or an appropriation other ussgl accounts were established to accommodate transfers between trust funds and federal funds they provide the mechanism to transfer financing sources where the funds remain invested for transfer at a later date the proprietary ussgl accounts established for this purpose include: 1335 expenditure transfers receivable 2155 expenditure transfers payable on the budgetary side the following ussgl account was established: 4114 appropriated trust or special fund receipts trust funds are to use ussgl account 4114 for appropriated receipts in the same way that federal funds (with the exception of special funds) are to use ussgl budgetary account 4119 other appropriations realized for appropriations received ussgl account 4119 is not appropriate for trust funds to record for several reasons first it generally correlates with ussgl proprietary account 3100 which trust funds do not record additionally ussgl account 4119 usually is associated with the receipt of an appropriation warrant which trust funds do not receive therefore trust funds should use ussgl account 4114 for all appropriated trust fund receipts not ussgl account 4119 the term appropriated is used in the ussgl account title because although trust funds do not receive actual appropriation warrants amounts are appropriated from various sources these sources include appropriations from a general fund receipt account to a trust fund receipt account (via fiscal service optional form 1017g: journal voucher); from an agencys general fund to the agencys trust fund (via expenditure transfer eg opac); and from a trust fund receipt account to a trust fund expenditure account therefore ussgl account 4114 is used to record all trust fund receipts and is counted as new budget authority on the sf 133 1 to record receipts deposited into a trust fund receipt account which are automatically credited to the corresponding trust fund expenditure account7 (collections of tax receipts from the public are initially deposited into a treasury general fund receipt account (ie 0152 excise taxes) and recorded as custodial revenue by the collecting entity (ie irs) from there the receipts are appropriated to the trust fund receipt account (via fiscal service optional form 1017g: journal voucher) note that fiscal service form 6200: appropriation warrant is not processed) (tc a186) 7 the transactions in this scenario combine the activity of the receipt and expenditure accounts the receiptexpenditure account relationship is described in more detail in the introduction of the guide 8 this scenario assumes that the entire trust fund is subject to apportionment for trust fund activity that is not subject to apportionment credit ussgl account 4620 unobligated funds not subject to apportionment budgetary 4114 appropriated trust or special fund receipts 50000 4450 unapportioned authority8 50000 proprietary 1010 fund balance with treasury 50000 5800 tax revenue collected 50000 2 to record the budgetary authority apportioned by omb (tc a116) budgetary 4450 unapportioned authority 30000 4510 apportionments 30000 proprietary none 3 to record the allotment of authority (tc a120) budgetary 4510 apportionments 20000 4610 allotments realized resources 20000 proprietary none budgetary 4610 allotments realized resources 15000 4801 undelivered orders obligations unpaid 15000 proprietary (none) 5 to record a payable to nonfederal recipients for expenses incurred (tc b302) budgetary 4801 undelivered orders obligations unpaid 15000 4901 delivered orders obligations unpaid 15000 proprietary 6100 operating expensesprogram costs 15000 2110 accounts payable 15000 6 to record a nonexpenditure allocation9 transferout of noninvested balances from the parent account to another agencys trust fund recipient allocation expenditure account10 all trusttotrust transfers are accomplished via an sf 1151: nonexpenditure transfer authorization (tc a214) 9 allocation transfers are posted to the same proprietary ussgl accounts as appropriation transfers but different budgetary ussgl accounts are used (see transaction 8) 10 refer to scenario v treasurymanaged trust fund allocation accounts for allocation transfers of invested balances as well as tfm s20102 (as updated) for comprehensive allocation transfer transactions budgetary 4510 apportionments 10000 4175 allocation transfers of currentyear authority for noninvested accounts 10000 proprietary 5765 nonexpenditure financing sources transfersout 10000 1010 fund balance with treasury 10000 7 to record payment and expenditure of amounts recorded in transaction 5 this will be reflected on the sf 224: statement of transactions (tc b110) budgetary 4901 delivered orders obligations unpaid 15000 4902 delivered orders obligations paid 15000 proprietary 2110 accounts payable 15000 1010 fund balance with treasury 15000 8 to record a nonexpenditure appropriation transferin from another agencys trust fund expenditure account all trusttotrust transfers are accomplished via an sf 1151: nonexpenditure transfer authorization (tc a250) budgetary 4170 transfers currentyear authority 7000 4450 unapportioned authority 7000 proprietary 1010 fund balance with treasury 7000 5755 nonexpenditure financing sources transfersin 7000 9 to record penalties collected from federal sources receipts are deposited into a trust fund receipt account and automatically credited to the corresponding trust fund expenditure account (tc a186) budgetary 4114 appropriated trust or special fund receipts 25000 4450 unapportioned authority 25000 proprietary 1010 fund balance with treasury 25000 5320 penalties fines and administrative fees revenue 25000 11 typically expenditure transfersin that do not fall under the economy act are recorded into trust fund receipt accounts the receipts are then automatically credited to the corresponding trust fund expenditure account (for trust funds designated in treasurys fast book as available) 12 the ussgl entries for budgetary fund control and obligations for trust funds are the same as those published in tfm s2 0102 (as updated) for purposes of illustration only the final results are shown here 13 same as footnote 7 budgetary 4114 appropriated trust or special fund receipts 17000 4450 unapportioned authority 17000 proprietary 1010 fund balance with treasury 17000 5200 revenue from services provided 5000 5750 expenditure financing sources transfersin 12000 11 to record expenditure transfersout of $2000 for expenses incurred to run a program (exchange transaction) and $1000 for amounts transferred by law (nonexchange transaction) report expenditure transfers on the sf 224: statement of transactions (tc a116 a120 a266) budgetary 4450 unapportioned authority12 3000 4902 delivered orders obligations paid 3000 proprietary 5760 expenditure financing sources transfersout 1000 6100 operating expensesprogram costs 2000 1010 fund balance with treasury 3000 12 to record a payable for a nonexchange expenditure transferout to the agencys general fund (tc a116 a259) budgetary 4450 unapportioned authority13 4000 4901 delivered orders obligations unpaid 4000 proprietary 5760 expenditure financing sources transfersout 4000 2155 expenditure transfers payable 4000 13 to record the actual nonexchange expenditure transferout from transaction 12 via opac the sf 224: statement of transactions will reflect this transaction (tc a261) budgetary 4901 delivered orders obligations unpaid 4000 4902 delivered orders obligations paid 4000 proprietary 2155 expenditure transfers payable 4000 1010 fund balance with treasury 4000 budgetary preclosing adjusted trial balance (facts ii atb): 4114 92000 4170 7000 4175 10000 4450 62000 4610 5000 4902 22000 99000 99000 budgetary closing entries: c1 to record the consolidation of actual netfunded resources (tc f204) 4175 allocation transfers of currentyear authority for noninvested accounts 10000 4201 total actual resources collected 89000 4114 appropriated trust or special fund receipts 92000 4170 transfers currentyear authority 7000 c2 to record the closing of unobligated balances to unapportioned authority (tc f210) 4610 allotments realized resources 5000 4450 unapportioned authority 5000 c3 to record the closing of expended authority paid (tc f214) 4902 delivered orders obligations paid 22000 4201 total actual resources collected 22000 budgetary postclosing trial balance: 4201 67000 4450 67000 67000 67000 proprietary preclosing trial balance (facts i trial balance): 1010 67000 5200 5000 5320 25000 5750 19000 5755 7000 5760 5000 5765 10000 5800 50000 6100 17000 99000 99000 proprietary closing entries: c1 to record the closing of revenues and expenses to cumulative results of operations (tc f228) 5200 revenue from services provided 5000 5320 penalties fines and administrative fees revenue 25000 5750 expenditure financing sources transfersin 12000 5755 nonexpenditure financing sources transfersin 7000 5800 tax revenue collected 50000 3310 cumulative results of operations 67000 5760 expenditure financing sources transfersout 5000 5765 nonexpenditure financing sources transfersout 10000 6100 operating expensesprogram costs 17000 proprietary postclosing trial balance: 1010 67000 3310 67000 67000 67000 sf 133: report on budget execution and budgetary resources (quarter 4): 1 budget authority a appropriations (4114e) 92000 d net transfers current year authority realized (net 4170e 4175e) (3000) 2 unobligated balance brought forward 3 spending authority from offsetting collections (gross) 4 recoveries of prior year obligations 5 temporarily not available pursuant to public law 6 permanently not available 7 total budgetary resources 89000 8 obligations incurred (4902e) 22000 9 unobligated balance (available) (4610e) 5000 10 unobligated balance not available (4450e) 62000 11 total status of budgetary resources 89000 12 obligated balance net as of october 1 13 obligated balance transferred net 14 obligated balance net end of period 15 outlays a disbursements (4902e) 22000 b collections ussgl 2108: yearend closing statement: column 5 postclosing unexpended balance (1010e) 67000 column 11 unobligated balance (4450e 4610e) 67000 program and financing schedule (pf)14: 14 per omb circular a11 section 8215 (dated july 19 2000) pf data for allocation receiving accounts must be combined with the parent account for example as illustrated above ussgl account 4175 is reported on lines 4100 and 4200; however since this pf data is combined with the recipient account ussgl account 4175 nets to zero on line 7000 (total) obligations by program activity 1000 total new obligations (4902e) 22000 budgetary resources available for obligation 2140 unobligated balance available start of year 0 2200 new budget authority(gross) (sum 4000 to 6990) 99000 2395 total new obligations () (from line 1000) 22000 2499 unobligated balance carried forward end of year (4450e 4610e of parent and recipient) 77000 new budgetary authority (gross) detail 4026 appropriation (trust fund definite) (4114e) 92000 4100 transferred to other accounts (4175eparent) (10000) 4200 transferred from other accounts (4170e 4175erecipient) 17000 7000 total new budget authority (gross) (4114e 4170e 4175e) 99000 memorandum entries 9201 total investments start of year (par) (1610b) 0 9202 total investments end of year (par) (1610e) 0 omb form and content statements 15 15 when preparing consolidated statements perform intraagency elimination entries for expenditure and nonexpenditure transfers balance sheet assets 1a4 fund balance with treasury (1010e) 67000 liabilities and net position 6b cumulative results of operations (3310e) 67000 statement of net cost 1a1 program costs intragovernmental production (6100e) 2000 1b1 program costs public production (6100e) 15000 1c total program cost (calc) 17000 1d less earned revenues (5200e) (5000) 1e net program costs (calc) 12000 2 costs not assigned to programs 3 less earned revenues not attributable to programs 4 net cost of operations 12000 statement of changes in net position 1 net cost of operations 12000 2b taxes (and other nonexchange revenue) (5320e 5800e) 75000 2e transfersin (5750e 5755e) 19000 2f transfersout (5760e 5765e) (15000) 3 net results of operations (calculation) 67000 9 net positionend of period (calculation) 67000 omb form and content statements (continued) statement of budgetary resources 1 budget authority a appropriations (4114e) 92000 d net transfers current year authority (4170e 4175e) (3000) 5 total budgetary resources 89000 6 obligations incurred (4902e) 22000 7a unobligated balances available apportioned (4610e) 5000 8d unobligated balances not yet available other (4450e) 62000 9 total status of budgetary resources 89000 10 obligations incurred (4902e) 22000 15 total outlays a disbursements (4902e) 22000 b collections statement of financing 1a obligations incurred (4902e) 22000 1h less: trust or special fund receipts related to exchange revenue in the entitys budget (5200e) (5000) 1j total obligations as adjusted and nonbudgetary resources 17000 2 resources that do not fund net cost of operations 2f adjustment for trust fund outlays that do not affect net cost (5760e) (5000) 2h total resources that do not fund net costs of operations (5000) 3 costs that do not require resources 4 financing sources yet to be provided 5 net cost of operations 12000 certain trust funds fall under a requirement whereby any unobligated balances remaining at yearend must be classified as temporarily not available and in effect temporarily removed from budget execution this requirement applies only to funds wherein receipts are immediately appropriated but are precluded from obligation at yearend by a provision of law such as a benefit formula or limitation this authority can be precluded during the year (ie by legislation) but is more commonly seen with trust funds at the end of the year (ie for trust funds with legislative provisions that contain a benefit formula or limitation on obligations) some of the larger dollarvalue and commonly known trust funds fit into this category examples of these types of trust funds are the federal oldage and survivors insurance trust fund federal hospital insurance trust fund and unemployment trust fund reporting guidelines stipulate that the yearend sf 133 must agree with the pf in the budget furthermore there is a relationship between schedule n: schedule of unavailable collections (which precedes the pf in the budget) and the pf the schedule n and pf together as well as the yearend sf 133 should reflect that the amount of currentyear receipts less obligations equals amounts precluded from obligation in addition budgetary reporting of these trust funds reflects no beginning or ending unobligated balances available for obligation during the year appropriated receipts are recorded as new budget authority on line 1a of the sf 133 while at the same time obligations are incurred on september 30th any remaining unobligated balances become temporarily precluded from obligation and are subtracted from budget authority on line 5 of the sf 133 this process results in a zero unobligated balance on both the sf 133 and pf however the balances remain on schedule n until such time as needed when currentyear receipts are not enough to cover currentyear obligations furthermore the unobligated balances are to be included on the ussgl 2108 column 11 unobligated balances to account for this type of activity the following budgetary ussgl accounts were established to ensure accurate reporting on the sf 133 ussgl 2108 and multiple lines of the pf: 4157 authority made available from receipt or appropriation balances previously precluded from obligation 4158 authority made available from offsetting collections balances previously precluded from obligation 4397 receipts and appropriations temporarily precluded from obligation 4398 offsetting collections temporarily precluded from obligation ussgl accounts 4397 and 4398 are recorded to temporarily preclude receipts or offsetting collections from obligation these accounts are credited at yearend against any remaining unobligated balances and remain open on the sf 133 they crosswalk to line 5 temporarily not available pursuant to public law as fiscal year amounts and are subtracted to bring total budgetary resources to zero the beginning balances are carried forward to line 2a unobligated balance brought forward the following year but are netted against total actual resources collected thus resulting in a zero balance on line 2a on the ussgl 2108 these accounts crosswalk to column 11 unobligated balances and represent invested balances this causes a disconnect between the unobligated balances reported on the sf 133 and ussgl 2108 with the difference captured in ussgl accounts 4397 and 4398 ussgl accounts 4157 and 4158 are recorded to return authority to the trust fund if currentyear receipts are not enough to cover currentyear obligations the returned authority is treated as new budget authority on the sf 133 however if the trust funds total currentyear receipts are greater than total currentyear obligations then these accounts must be adjusted to zero prior to submitting the facts ii atb (preclosing entry) if on the other hand the trust funds total currentyear receipts are not enough to cover currentyear obligations then these accounts are closed as part of the postclosing entries the following scenario illustrates each of these concepts year 1 illustrates the proper entries for a trust fund where the total amount of currentyear receipts is greater than total currentyear obligations year 2 illustrates authority returned to the trust fund in order to cover obligations and the corresponding entries where the total amount of currentyear receipts at yearend is greater than the amount that was needed to cover currentyear obligations year 3 illustrates authority returned to the trust fund to cover obligations and the corresponding entries where the total amount of currentyear receipts at yearend is not enough to cover currentyear obligations year 1 1 to record appropriated receipts from federal sources into a trust fund the receipts are deposited into an available trust fund receipt account and are automatically credited to the corresponding expenditure account1 assume a portion of the receipts is subject to apportionment (tc a186) 1 the transactions in this scenario combine the activity of the receipt and expenditure accounts the receiptexpenditure account relationship is described in more detail in the introduction of the guide 2 generally all trust fund receipts and collections are recorded into ussgl account 4114 appropriated trust or special fund receipts an exception exists for work performed under the economy act for which the collections are recorded as offsetting and netted against outlays budgetary 4114 appropriated trust or special fund receipts 500 4450 unapportioned authority 100 4620 unobligated funds not subject to apportionment 400 proprietary 1010 fund balance with treasury 500 5800 tax revenue collected 500 2 to record reimbursable activity between a trust fund and another federal fund for work performed under the economy act2 offsetting collections are recorded directly to trust fund expenditure accounts assume offsetting collections for this program are subject to apportionment a to record anticipated reimbursements (tc a302) budgetary 4210 anticipated reimbursements and other income 700 4450 unapportioned authority 700 proprietary none budgetary 4450 unapportioned authority 550 4590 apportionments unavailable anticipated resources 550 proprietary none c to record a reimbursable agreement with an advance and to realize previously anticipated and apportioned authority (tc a122 c182) budgetary 4222 unfilled customer orders with advance 550 4210 anticipated reimbursements and other income 550 and 4590 apportionments unavailable anticipated resources 550 4610 allotments realized resources 550 proprietary 1010 fund balance with treasury 550 2310 advances from others 550 d to incur obligations (tc b204) budgetary 4610 allotments realized resources 550 4801 undelivered orders obligations unpaid 550 proprietary none budgetary 4252 reimbursements and other income earned collected 550 4222 unfilled customer orders with advance 550 proprietary 2310 advances from others 550 5200 revenue from services provided 550 f to record services performed and expenses incurred (tc b107) budgetary 4801 undelivered orders obligations unpaid 550 4902 delivered orders obligations paid 550 proprietary 6100 operating expensesprogram costs 550 1010 fund balance with treasury 550 3 to record obligation expenditure and disbursement of funds to nonfederal recipients against portion of receipts collected in transaction 1 (tc b107) budgetary 4620 unobligated funds not subject to apportionment 225 4902 delivered orders obligations paid 225 proprietary 6100 operating expensesprogram costs 225 1010 fund balance with treasury 225 year 1 budgetary adjusting entries: for trust funds wherein receipts are precluded from obligation at yearend record the following pre closing entries these entries are to be made prior to submitting facts ii atbs note that these entries may also be made during the year if specified by law a1) to record adjustments for anticipated resources not realized (tc f112) 4450 unapportioned authority 150 4210 anticipated reimbursements and other income 150 a2) to record unobligated balances of appropriated receipts temporarily precluded from obligation (tc a127) 4620 unobligated funds not subject to apportionment 175 4397 receipts and appropriations temporarily precluded from obligation 175 a3) to record unobligated balances of offsetting collections temporarily precluded from obligation (tc a129) 4450 unapportioned authority 100 4398 offsetting collections temporarily precluded from obligation 100 year 1 budgetary preclosing adjusted trial balance (facts ii atb): 4114 500 4252 550 4397 175 4398 100 4902 775 1050 1050 budgetary closing entries: c1 to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 1050 4114 appropriated trust or special fund receipts 500 4252 reimbursements and other income earned collected 550 c2 to record the closing of expended authority paid (tc f214) 4902 delivered orders obligations paid 775 4201 total actual resources collected 775 budgetary postclosing trial balance: 4201 275 4397 175 4398 100 275 275 year 1 proprietary preclosing trial balance (facts i trial balance): 1010 275 5200 550 5800 500 6100 775 1050 1050 proprietary closing entries: c1 to record the closing of revenues and expenses to cumulative results of operations (tc f228) 5200 revenue from services provided 550 5800 tax revenue collected 500 3310 cumulative results of operations 275 6100 operating expensesprogram costs 775 proprietary postclosing trial balance: 1010 275 3310 275 275 275 year 1 sf 133: report on budget execution and budgetary resources (quarter 4): 1a appropriations (4114e) 500 2a unobligated balance brought forward 3a1 spending authority from offsetting collections earned collected (4252e) 550 5 temporarily not available pursuant to pl (4397eb 4398eb) (275) 7 total budgetary resources 775 8a1 obligations incurred direct (4902e) 550 8a3 obligations incurred direct not subject to apportionment (4902e) 225 9 unobligated balances available 0 11 total status of budgetary resources 775 12 obligated balance net as of october 1 13 obligated balance transferred net 14 obligated balance net end of period 15a disbursements (4902e) 775 15b collections (4252e) 550 ussgl 2108: yearend closing statement: column 5 postclosing unexpended balance (1010e) 275 column 11 unobligated balance (4397e 4398e) 275 year 1 schedule p program financing: obligations by program activity 1000 total new obligations (4902e) 775 budgetary resources available for obligation 2200 new budget authority (gross) (sum 4000 to 6990) 775 2395 total new obligations () (from line 1000) (775) 2499 total unobligated balance end of year 0 new budgetary authority (gross) detail 6027 appropriation (trust fund indefinite) (4114e) 500 6045 portion precluded from obligation () (4397eb) (175) 6800 discr spend authority from offsetting collections (4252e) 550 6845 portion unavailable for obligation () (4398eb) (100) 7000 total new budget authority (gross) (4114e4252e4397eb4398eb) 775 year 1 omb form and content statements balance sheet assets 1a1 entity intragovernmental (1010e) 275 liabilities net position 8 cumulative results of operations (3310e) 275 statement of net cost 1b1 program costs public production (6100e) 775 1d less earned revenue (5200e) (550) 5 net cost of operations (calc) 225 statement of changes in net position 1 net cost of operations 225 2b financing sourcestaxes (5800e) 500 9 net position end of period (calc) 275 year 1 omb form and content statements (continued) statement of budgetary resources 1a budget authority appropriations (4114e) 500 3a1 spending authority from offsetting collections (4252e) 550 4b adjustments temporarily not available (4397eb 4398eb) (275) 5 total budgetary resources 775 6 obligations incurred (4902e) 775 9 total status of resources 775 10 obligations incurred (4902e) 775 11a1 spending authority from offsetting collections (4252e) 550 15 total outlays (calc) 225 statement of financing 1a obligations incurred (4902e) 775 1b1a earned reimb collected (4252e) (550) 1j total (calc) 225 5 net cost of operations (calc) 225 year 2 (year 2 illustrates authority returned to the trust fund in order to cover obligations and the corresponding entries where the total amount of currentyear receipts at yearend is greater than the amount that was needed to cover currentyear obligations3) 3 compare with year 3 where the total amount of currentyear receipts at yearend is not enough to cover currentyear obligations the difference is in whether an adjusting entry or closing entry is required to reduce ussgl accounts 4157 and 4158 1 to record appropriated receipts from federal sources into a trust fund the receipts are deposited into an available trust fund receipt account and are automatically credited to the corresponding expenditure account assume the receipts are not subject to apportionment (tc a186) budgetary 4114 appropriated trust or special fund receipts 600 4620 unobligated funds not subject to apportionment 600 proprietary 1010 fund balance with treasury 600 5800 tax revenue collected 600 2a to record the obligation expenditure and disbursement of funds to nonfederal recipients note that at the time of obligation current year receipts are not enough to cover obligations (tc b107) budgetary 4620 unobligated funds not subject to apportionment 750 4902 delivered orders obligations paid 750 proprietary 6100 operating expensesprogram costs 750 1010 fund balance with treasury 750 and year 2 2b to record authority made available from previously unavailable balances4 (tc a192 a194) 4 the unavailable balances from prior years are captured in ussgl accounts 4397 or 4398 refer to year 1 of this scenario for the original transactions (calculation: $600 received $750 to be expended $150 to be covered by balances collected in prior years) budgetary 4157 authority made available from receipt or appropriation balances previously precluded from obligation 75 4158 authority made available from offsetting collections balances previously precluded from obligation 75 4620 unobligated funds not subject to apportionment 150 proprietary none 3 to record additional appropriated receipts into the trust fund (tc a186) budgetary 4114 appropriated trust or special fund receipts 500 4620 unobligated funds not subject to apportionment 500 proprietary 1010 fund balance with treasury 500 5800 tax revenue collected 500 year 2 budgetary adjusting entries: a1) to record unobligated balances of appropriated receipts temporarily precluded from obligation (tc a127) 4620 unobligated funds not subject to apportionment 500 4397 receipts and appropriations temporarily precluded from obligation 500 a2) to reduce balances previously precluded from obligation by the amount that was needed in the current year to cover obligations note: record this entry as pre closing when the total amount of currentyear receipts is greater than the amount needed to cover currentyear obligations5 (tc f132 f134) 5 record this entry as postclosing when the total amount of currentyear receipts is not enough to cover currentyear obligations refer to year 3 of this scenario for an illustration note that alternative methods may be used to achieve the same result 4397 receipts and appropriations temporarily precluded from obligation 75 4157 authority made available from receipt or appropriation balances previously precluded from obligation 75 4398 offsetting collections temporarily precluded from obligation 75 4158 authority made available from offsetting collections balances previously precluded from obligation 75 year 2 beginning budgetary trial balance: 4201b 275 4397b 175 4398b 100 275 275 budgetary preclosing adjusted trial balance (facts ii atb): 4114 1100 4201 275 4397 600 4398 25 4902 750 1375 1375 budgetary closing entries: c1 to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 1100 4114 appropriated trust or special fund receipts 1100 c2 to record the closing of expended authority paid (tc f214) 4902 delivered orders obligations paid 750 4201 total actual resources collected 750 year 2 budgetary postclosing trial balance: 4201 625 4397 600 4398 25 625 625 year 2 beginning proprietary trial balance: 1010b 275 3310b 275 275 275 proprietary preclosing adjusted trial balance (facts i atb): 1010 625 3310 275 5800 1100 6100 750 1375 1375 proprietary closing entries: c1 to close revenues and expenses into cumulative results of operations (tc f228) 5800 tax revenue collected 1100 6100 operating expensesprogram costs 750 3310 cumulative results of operations 350 proprietary postclosing trial balance: 1010 625 3310 625 625 625 year 2 sf 133: report on budget execution and budgetary resources (quarter 4): 1a appropriations (4114e) 1100 2a unobligated balance brought forward (4201b4397b4398b) 0 3a1 spending authority from offsetting collections 5 temporarily not available pursuant to pl (4397eb 4398eb) (350) 7 total budgetary resources 750 8a3 obligations incurred direct not subject to apportionment (4902e) 750 9 unobligated balances available 0 11 total status of budgetary resources 750 12 obligated balance net as of october 1 13 obligated balance transferred net 14 obligated balance net end of period 15a disbursements (4902e) 750 ussgl 2108: yearend closing statement: column 5 postclosing unexpended balance (1010e) 625 column 11 unobligated balance (4397e4398e) 625 year 2 schedule p program financing obligations by program activity 1000 total new obligations (4902e) 750 budgetary resources available for obligation 2200 new budget authority (gross) (sum 4000 to 6990) 750 2395 total new obligations () (from line 1000) (750) 2499 total unobligated balance end of year 0 new budgetary authority (gross) detail 6027 appropriation (trust fund indefinite) (4114e) 1100 6028 appropriation (unavailable balances) (4157e) 0 6045 portion precluded from obligation () (4397eb) (425) 6800 discr spend authority from offsetting collections 68266926 from offsetting collections (unavailable balances) (4158e) 0 6845 portion unavailable for obligation () (4398eb) 75 7000 total new budget authority (gross) (4114e4157e4158e4397eb4398eb) 750 year 2 omb form and content statements balance sheet assets 1a1 entityintragovernmental (1010e) 625 liabilities and net position 8 cumulative results of operations (3310e) 625 statement of net cost 1b1 program costspublicproduction (6100e) 750 5 net cost of operations (calc) 750 statement of changes in net position 1 net cost of operations 750 2b financing sourcestaxes (5800e) 1100 3 net results of operations (calc 21) 350 8 net positionbeg of period (3310b) 275 9 net positionend of period (calc) 625 year 2 omb form and content statements (continued) statement of budgetary resources 1a budget authority appropriations (4114e 4157e 4158e) 1100 4b adjustments temporarily not available (4397eb 4398eb) (350) 5 total budgetary resources 750 6 obligations incurred (4902e) 750 9 total status of resources 750 10 obligations incurred (4902e) 750 15 total outlays (calc) 750 statement of financing 1a obligations incurred (4902e) 750 1j total (calc) 750 5 net cost of operations (calc) 750 year 3 (year 3 illustrates authority returned to the trust fund in order to cover obligations and the corresponding entries where the total amount of currentyear receipts at yearend is not enough to cover currentyear obligations6) 6 compare with year 2 where the total amount of currentyear receipts at yearend is greater than the amount that was needed to cover currentyear obligations the difference is in whether an adjusting entry or closing entry is required to reduce ussgl accounts 4157 and 4158 1 to record appropriated receipts into a trust fund the receipts are deposited into an available trust fund receipt account and are automatically credited to the corresponding expenditure account assume the receipts are not subject to apportionment (tc a186) budgetary 4114 appropriated trust or special fund receipts 1000 4620 unobligated funds not subject to apportionment 1000 proprietary 1010 fund balance with treasury 1000 5800 tax revenue collected 1000 2a to record the obligation expenditure and disbursement of funds note that at the time of obligation current year receipts are not enough to cover obligations (tc b107) budgetary 4620 unobligated funds not subject to apportionment 1200 4902 delivered orders obligations paid 1200 proprietary 6100 operating expensesprogram costs 1200 1010 fund balance with treasury 1200 and 2b to record authority made available from previously unavailable balances (tc a192) budgetary 4157 authority made available from receipt or appropriation balances previously precluded from obligation 200 4620 unobligated funds not subject to apportionment 200 proprietary none year 3 3 to record additional appropriated receipts into the trust fund (tc a186) budgetary 4114 appropriated trust or special fund receipts 100 4620 unobligated funds not subject to apportionment 100 proprietary 1010 fund balance with treasury 100 5800 tax revenue collected 100 budgetary adjusting entries: a1) to record unobligated balances of appropriated receipts temporarily precluded from obligation (tc a127) 4620 unobligated funds not subject to apportionment 100 4397 receipts and appropriations temporarily precluded from obligation 100 year 3 beginning budgetary trial balance: 4201b 625 4397b 600 4398b 25 625 625 budgetary preclosing adjusted trial balance (facts ii atb): 4114 1100 4157 200 4201 625 4397 700 4398 25 4902 1200 1925 1925 budgetary closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 1100 4114 appropriated trust or special fund receipts 1100 c1) to record the closing of expended authority paid (tc f214) 4902 delivered orders obligations paid 1200 4201 total actual resources collected 1200 year 3 c2) to reduce balances previously precluded from obligation by the amount that was needed in the current year to cover obligations note: record this entry as postclosing when the total amount of currentyear receipts is not enough to cover currentyear obligations7 (tc f242) 7 record this entry as preclosing when the total amount of currentyear receipts is greater than the amount needed to cover currentyear obligations refer to year 2 of this scenario for an illustration note that alternative methods may be used to achieve the same result 4397 receipts and appropriations temporarily precluded from obligation 200 4157 authority made available from receipt or appropriation balances previously precluded from obligation 200 budgetary postclosing trial balance: 4201 525 4397 500 4398 25 525 525 year 3 beginning proprietary trial balance: 1010b 625 3310b 625 625 625 proprietary preclosing trial balance (facts i trial balance): 1010 525 3310 625 5800 1100 6100 1200 1725 1725 proprietary closing entries: c1 to close revenues and expenses into cumulative results of operations (tc f228) 5800 tax revenue collected 1100 3310 cumulative results of operations 100 6100 operating expensesprogram costs 1200 proprietary postclosing trial balance: 1010 525 3310 525 525 525 year 3 sf 133: report on budget execution and budgetary resources (quarter 4): 1a appropriations (4114e4157e4158e) 1300 2a unobligated balance brought forward (4201b4397b4398b) 0 3a1 spending authority from offsetting collections 5 temporarily not available pursuant to pl (4397eb 4398eb) (100) 7 total budgetary resources 1200 8a3 obligations incurred direct not subject to apportionment (4902e) 1200 9 unobligated balances available 0 11 total status of budgetary resources 1200 12 obligated balance net as of october 1 13 obligated balance transferred net 14 obligated balance net end of period 15a disbursements (4902e) 1200 ussgl 2108: yearend closing statement: column 5 postclosing unexpended balance (1010e) 525 column 11 unobligated balance (4157e4158e4397e4398e) 525 year 3 schedule p program financing: obligations by program activity 1000 total new obligations (4902e) 1200 budgetary resources available for obligation 2200 new budget authority (gross) (sum 4000 to 6990) 1200 2395 total new obligations () (from line 1000) (1200) 2499 total unobligated balance end of year 0 new budgetary authority (gross) detail 6027 appropriation (trust fund indefinite) (4114e) 1100 6028 appropriation (unavailable balances) (4157e) 200 6045 portion precluded from obligation () (4397eb) (100) 6800 discr spend authority from offsetting collections 68266926 from offsetting collections (unavailable balances) 6845 portion unavailable for obligation () (4398eb) 0 7000 total new budget authority (gross) (4114e4157e4158e4397eb4398eb) 1200 year 3 omb form and content statements balance sheet assets 1a1 entityintragovernmental (1010e) 525 liabilities net position 8 cumulative results of operations (3310e) 525 statement of net cost 1b1 program costspublicproduction (6100e) 1200 5 net cost of operations (calc) 1200 statement of changes in net position 1 net cost of operations 1200 2b financing sourcestaxes (5800e) 1100 3 net results of operations (calc 21) (100) 8 net positionbeg of period (3310b) 625 9 net positionend of period (calc) 525 year 3 omb form and content statements (continued) statement of budgetary resources 1a budget authority appropriations (4114e 4157e 4158e) 1300 4b adjustments temporarily not available (4397eb 4398eb) (100) 5 total budgetary resources 1200 6 obligations incurred (4902e) 1200 9 total status of resources 1200 10 obligations incurred (4902e) 1200 15 total outlays (calc) 1200 statement of financing 1a obligations incurred (4902e) 1200 1j total (calc) 1200 5 net cost of operations (calc) 1200 scenario iii illustrates the accounting and reporting procedures for trust fund receipts available for investment but not immediately available for obligation examples include receipts collected in one year that are not available for obligation until the following year or receipts only available for obligation subject to an annual appropriation act in both cases the amounts are available for investment and therefore the unobligated balances should be reflected on the ussgl 2108 omb however classifies these receipts as unavailable or unappropriated and requires the amounts to be excluded from the sf 133 until the required conditions are met an example would be the aquatic resources trust fund as indicated in treasurys fast book most federal trust funds are designated as available indicating that receipts collected are immediately available for investment therefore in treasurys central accounting system when receipts are deposited into an available trust fund receipt account they are automatically credited to the corresponding expenditure account with no further action required by congress once in the expenditure account the funds may be invested based upon terms stipulated in legislation or a trust agreement regardless of whether a trust fund is designated as available in treasurys system the receipts of that trust fund may or may not be available to the agency for obligation obligational authority is also determined in the legislation governing the trust fund if a fund symbol is available for both investment and obligation then follow accounting guidance illustrated in scenario i basic trust fund accounting however if a fund symbol is designated as available for investment but not available for obligation then observe the guidance provided in scenario iii this scenario illustrates the use of ussgl account 4394 receipts not available for obligation upon collection this account was established to provide the mechanism for properly including balances on the ussgl 2108 and excluding balances on the sf 133 since there are more special funds than trust funds that employ this type of activity a more detailed scenario was developed by the ussgl special fund subcommittee in conjunction with the ussgl trust fund subcommittee for additional background and presentation of this ussgl account visit the ussgl web site year 1 1 to record the collection of excise taxes from the public into an available trust fund receipt account because the trust fund is designated as available the receipts are automatically credited to the corresponding expenditure account so that they may be invested1 assume that the legislation for this trust fund states that receipts are not available for obligation until the next fiscal year (tc a188) 1 the transactions in this scenario combine the activity of the receipt and expenditure accounts into one the receipt expenditure account relationship is described in more detail in the introduction of the guide 2 this is a basic transaction to illustrate that the receipts collected are immediately invested investment transactions are kept to a minimum in this scenario in order to focus attention on the accounting for receipts that are available for investment but not obligation refer to scenario iv trust fund investments as well as section iii accounting transactions of tfm s2 0102 (as updated) for more detailed guidance on trust fund investments budgetary 4114 appropriated trust or special fund receipts 10000 4394 receipts not available for obligation upon collection 10000 proprietary 1010 fund balance with treasury 10000 5800 tax revenue collected 10000 2 the receipts are immediately invested in a us treasury security issued by the bureau of the fiscal service the security has a par value of $10000 and was purchased at a discount of $20002 (tc b128) budgetary none proprietary 1610 investments in us treasury securities issued by fiscal service 10000 1611 discount on us treasury securities issued by fiscal service 2000 1010 fund balance with treasury 8000 year 1 3 to record interest receivable on the treasury security this is not a budgetary resource until collected (tc c215) budgetary none proprietary 1340 interest receivable 1000 5310 interest revenue 1000 4 to record the amortization of the discount on the treasury security (tc d510) budgetary none proprietary 1613 amortization of discount and premium on us treasury securities issued by fiscal service 500 5310 interest revenue 500 year 1 budgetary preclosing adjusted trial balance (facts ii atb): 4114 10000 4394 10000 10000 10000 budgetary closing entry: c1 to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 10000 4114 appropriated trust or special fund receipts 10000 budgetary postclosing trial balance: 4201 10000 4394 10000 10000 10000 year 1 proprietary preclosing trial balance (facts i trial balance): 1010 2000 1340 1000 1610 10000 1611 2000 1613 500 5310 1500 5800 10000 13500 13500 proprietary closing entry: c1 to record the closing of revenues to cumulative results of operations (tc f228) 5310 interest revenue 1500 5800 tax revenue collected 10000 3310 cumulative results of operations 11500 proprietary postclosing trial balance: 1010 2000 1340 1000 1610 10000 1611 2000 1613 500 3310 11500 13500 13500 year 1 sf 133: report on budget execution and budgetary resources (quarter 4): 1a appropriations (4114e) 10000 (4394eb) (10000) 2a unobligated balance brought forward 0 7 total budgetary resources 0 11 total status of budgetary resources 0 ussgl 2108: yearend closing statement: column 5 postclosing unexpended balance (1010e) 2000 column 6 other authorizations (1610e) 10000 1611e (2000) column 11 unobligated balance (4394e) 10000 year 1 program and financing schedule (pf): obligations by program activity 1000 total new obligations 0 budgetary resources available for obligation 2140 unobligated balance available start of year 0 2200 new budget authority(gross) (sum 4000 to 6990) 0 2395 total new obligations () (from line 1000) 0 2499 unobligated balance carried forward end of year 0 new budgetary authority (gross) detail 4026 appropriation (trust fund definite) (4114e 4394eb) 0 7000 total new budget authority (gross) (4114e 4394eb) 0 memorandum entries 9201 total investments start of year (par) (1610b) 0 9202 total investments end of year (par) (1610e) 10000 year 1 omb form and content statements balance sheet assets 1a1 fund balance with treasury (1010e) 2000 1a4 investments (1340e 1610e 1611e 1613e) 9500 liabilities and net position 6b cumulative results of operations (3310e) 11500 statement of net cost 1 program costs 0 1d less earned revenue 03 4 net cost of operations (calculation) 0 statement of changes in net position 1 net cost of operations 0 2b taxes (and other nonexchange revenue) (5310e 5800e) 11500 9 net position end of period (calculation) 11500 3 for most trust funds invested balances are derived predominantly from earmarked taxes and other nonexchange revenue accordingly the interest earned is classified as nonexchange thus not deducted from the gross cost of operations for those trust funds however where the main source of balances consist of exchange revenue (eg civil service retirement and disability fund) the interest shall be classified as exchange and thus deducted from the gross cost of operations (see sffas 7 306308) year 1 omb form and content statements (continued) statement of budgetary resources 1a budget authority appropriations (4114e 4394eb) 0 5 total budgetary resources 0 6 obligations incurred 0 7b unobligated exempt from apportionment (4620e) 0 9 total status of budgetary resources 0 10 obligations incurred (4902e) 0 statement of financing 1 obligations and nonbudgetary resources 0 2 resources that do not fund net cost of operations 0 3 components of costs of operations that do not require or generate resources 0 4 financing sources yet to be provided 0 5 net cost of operations 0 year 2 1 to record the collection of excise taxes from the public into an available trust fund receipt account because the trust fund is designated as available the receipts are automatically credited to the corresponding expenditure account so that they may be invested assume that the legislation for this trust fund states that receipts are not available for obligation until the next fiscal year (tc a188) budgetary 4114 appropriated trust or special fund receipts 7000 4394 receipts not available for obligation upon collection 7000 proprietary 1010 fund balance with treasury 7000 5800 tax revenue collected 7000 2 the receipts are immediately invested in a us treasury security issued by the bureau of the fiscal service the security has a par value of $7000 and was purchased at a premium of $500 (omb circular a34 requires that purchased premiums are to be recorded as a reduction of receipts) (tc b126) budgetary 4394 receipts not available for obligation upon collection 500 4114 appropriated trust or special fund receipts 500 proprietary 1610 investments in us treasury securities issued by fiscal service 7000 1612 premium on us treasury securities issued by fiscal service 500 1010 fund balance with treasury 7500 year 2 3 to record collection of interest on a prior year investment the legislation states that interest on investments is not available for obligation4 (tc a196) 4 if the legislation defines investment interest as available credit the appropriate ussgl status account (eg 4450 4620) instead of 4394 5 for trust funds subject to apportionment refer to section iii accounting transactions of tfm s20102 (as updated) for additional transactions budgetary 4114 appropriated trust or special fund receipts 1000 4394 receipts not available for obligation upon collection 1000 proprietary 1010 fund balance with treasury 1000 1340 interest receivable 1000 4 to record the portion of the prioryears receipts that become available for obligation based upon conditions met in the legislation assume that this trust fund is not subject to apportionment5 (tc a190) budgetary 4394 receipts not available for obligation upon collection 2000 4620 unobligated funds not subject to apportionment 2000 proprietary none 5 to record the amortization of the discount and premium on the treasury securities (tc d510) budgetary none proprietary 1613 amortization of discount and premium on us treasury securities issued by fiscal service 300 5310 interest revenue 300 5310 interest revenue 200 1613 amortization of discount and premium on us treasury securities issued by fiscal service 200 year 2 budgetary preclosing adjusted trial balance (facts ii atb): 4114 7500 4201 10000 4394 15500 4620 2000 17500 17500 budgetary closing entry: c1 to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 7500 4114 appropriated trust or special fund receipts 7500 budgetary postclosing trial balance: 4201 17500 4620 2000 4394 15500 17500 17500 year 2 proprietary preclosing trial balance (facts i trial balance): 1010 2500 1610 17000 1611 2000 1612 500 1613 600 3310 11500 5310 100 5800 7000 20600 20600 proprietary closing entry: c1 to record the closing of revenues to cumulative results of operations (tc f228) 5310 interest revenue 100 5800 tax revenue collected 7000 3310 cumulative results of operations 7100 year 2 proprietary postclosing trial balance: 1010 2500 1610 17000 1611 2000 1612 500 1613 600 3310 18600 20600 20600 year 2 sf 133: report on budget execution and budgetary resources (quarter 4): 1a appropriations (4114e) 7500 (4394eb) (5500) 2a unobligated balance brought forward (4201b) 10000 (4394b) (10000) 7 total budgetary resources 2000 9 unobligated balances available (4620e) 2000 11 total status of budgetary resources 2000 ussgl 2108: yearend closing statement: column 5 postclosing unexpended balance (1010e) 2500 column 6 other authorizations (1610e) 17000 (1611e) (2000) column 11 unobligated balance (4620e) 2000 (4394e) 15500 year 2 program and financing schedule (pf): obligations by program activity 1000 total new obligations (4902e) 0 budgetary resources available for obligation 2140 unobligated balance available start of year 0 2200 new budget authority(gross) (sum 4000 to 6990) 2000 2395 total new obligations () (from line 1000) 0 2499 unobligated balance carried forward end of year 2000 new budgetary authority (gross) detail 4026 appropriation (trust fund definite) (4114e 4394eb) 2000 7000 total new budget authority (gross) (4114e 4394eb) 2000 memorandum entries 9201 total investments start of year (par) (1610b) 10000 9202 total investments end of year (par) (1610e) 17000 year 2 omb form and content statements balance sheet assets 1a1 fund balance with treasury (1010e) 2500 1a4 investments (1610e 1611e 1612e 1613e) 16100 liabilities and net position 6b cumulative results of operations (3310e) 18600 statement of net cost 1 program costs 0 1d less earned revenue 06 4 net cost of operations (calculation) 0 statement of changes in net position 1 net cost of operations 0 2b taxes (and other nonexchange revenue) (5310e 5800e) 7100 7 net position beginning of period (3310b) 11500 9 net position end of period (calculation) 18600 6 for most trust funds invested balances are derived predominantly from earmarked taxes and other nonexchange revenue accordingly the interest earned is classified as nonexchange thus not deducted from the gross cost of operations for those trust funds however where the main source of balances consist of exchange revenue (eg civil service retirement and disability fund) the interest shall be classified as exchange and thus deducted from the gross cost of operations (see sffas 7 306308) year 2 omb form and content statements (continued) statement of budgetary resources 1a budget authority appropriations (4114e 4394eb) 2000 5 total budgetary resources 2000 6 obligations incurred 0 7b unobligated exempt from apportionment (4620e) 2000 9 total status of budgetary resources 2000 10 obligations incurred (4902e) 0 statement of financing 5 obligations and nonbudgetary resources 0 6 resources that do not fund net cost of operations 0 3 components of costs of operations that do not require or generate resources 0 7 financing sources yet to be provided 0 5 net cost of operations 0 federal trust funds are managed by either a federal program agency or by fiscal service on behalf of an agency the managing entities make the investment decisions the secretary of the treasury administers the investment programs for federal accounts authorized by law to invest in us government interestbearing obligations treasurys role is twofold: 1) to act as executor of investment decisions directed by federal program agencies (for agencymanaged trust funds) and 2) to maintain the role of managing trustee (for treasurymanaged trust funds) wherein treasury makes and executes investment decisions for certain funds fiscal service administers these two missioncritical functions scenario iv applies to both agencymanaged and treasurymanaged trust funds the entity that manages the fund which would be either the agency or fiscal service acting on behalf of the agency records the transactions outlined herein federal trust fund receipts can be invested in various types of securities but appropriate authorization is required trust fund investments are primarily in public debt securities issued by fiscal service with maturities suitable to meet the needs of the fund investments in public debt securities are treated as an exchange of an asset scenario iv addresses these types of investments a small number of trust funds are authorized to invest in nonfederal securities (securities held outside of the government) investments in nonfederal securities are treated as a purchase of an asset rather than as an exchange of an asset an obligation and an outlay must be recorded for the purchase investments in nonfederal securities are less common and therefore are not covered in this scenario even fewer trust funds are authorized to invest in agency securities whereby one agency purchases securities issued by another agency this type of investment which is also uncommon in the federal government requires specific authorization and is not covered in this scenario refer to omb circular a34 for additional reporting guidance and to the ussgl web site for guidance on accounting for agency securities for trust funds managed by federal program agencies (eg civil service retirement and disability trust fund) program agencies are responsible for determining the amounts to be invested and the terms of the investments agencies also are responsible for calling fiscal service with specific investmentredemption orders and reporting investment activity via the sf 224: statement of transactions (sf 133 ussgl 2108 pf) and on the agency financial statements for trust funds managed by fiscal service (eg federal oldage and survivors insurance trust fund unemployment trust fund) fiscal service is responsible for administering and monitoring the daily activities of the managed trust funds for receipts investments redemptions and interest calculations unlike agencymanaged trust funds fiscal service reports the investment activity via the sf 224 for the trust funds it manages fiscal service also reports the appropriate investment figures through facts ii and provides the same information to the agency responsible for facts i reporting and the agency financial statements this scenario is specific to trust funds and illustrates basic investment transactions for additional transactions and reporting requirements refer to omb circulars a34 and a11; tfm volume i part 2 chapter 4300: intragovernmental fiduciary transactions accounting guide; tfm volume i part 2 chapter 4300 tl 587: reporting instructions for accounts invested in department of the treasury securities; and additional individualized scenarios developed by the ussgl staff (located on the ussgl web site) scenario assumptions the following assumptions apply to scenario iv: receipts of this trust fund consist of predominantly nonexchange revenue therefore the interest earned on investments is classified as nonexchange for guidance on interest classified as exchange refer to sffas 7 accounting for revenue and other financing sources paragraphs 306308  the programs of the investing entity are not subject to apportionment refer to section iii accounting transactions of tfm s20102 (as updated) for comprehensive transactions that include accounting for programs that are subject to apportionment 1 to record the collection of tax receipts that are deposited into a trust fund receipt account the receipts are automatically credited to the corresponding expenditure account whereby they can be invested1 (tc a186) 1 the transactions in this scenario combine the activity of the receipt and expenditure accounts into one the receipt expenditure account relationship is described in more detail in the introduction of the guide budgetary 4114 appropriated trust or special fund receipts 1000000 4620 unobligated funds not subject to apportionment 1000000 proprietary 1010 fund balance with treasury 1000000 5800 tax revenue collected 1000000 2 to record the immediate investment of the receipts in us treasury security a issued by the bureau of the fiscal service the security has a par value of $1000000 and was purchased at a discount of $200000 (tc b128) budgetary none proprietary 1610 investments in us treasury securities issued by fiscal service 1000000 1611 discount on us treasury securities issued by fiscal service 200000 1010 fund balance with treasury 800000 3 to record the collection of additional receipts that are deposited into the trust fund receipt account the receipts are automatically credited to the corresponding expenditure account whereby they can be invested (tc a186) budgetary 4114 appropriated trust or special fund receipts 5000000 4620 unobligated funds not subject to apportionment 5000000 proprietary 1010 fund balance with treasury 5000000 5800 tax revenue collected 5000000 4 to record the immediate investment of the receipts in us treasury security b issued by the bureau of the fiscal service the security has a par value of $5000000 and was purchased for a premium of $10000 (tc b126) budgetary 4620 unobligated funds not subject to apportionment 10000 4114 appropriated trust or special fund receipts 10000 proprietary 1610 investments in us treasury securities issued by fiscal service 5000000 1612 premium on us treasury securities issued by fiscal service 10000 1010 fund balance with treasury 5010000 5 to record accrued interest receivable for securities a and b budgetary resources are not recorded until interest is collected (tc c215) budgetary none proprietary 1340 interest receivable 101000 5310 interest revenue 101000 6 to record the maturity of security a a to record the amortization of the discount (tc d510) budgetary none proprietary 1613 amortization of discount and premium on us treasury securities issued by fiscal service 200000 5310 interest revenue 200000 b to record the redemption (tc c124) budgetary 4114 appropriated trust or special fund receipts 200000 4620 unobligated funds not subject to apportionment 200000 proprietary 1010 fund balance with treasury 1000000 1610 investments in us treasury securities issued by fiscal service 1000000 1611 discount on us treasury securities issued by fiscal service 200000 1613 amortization of discount and premium on us treasury securities issued by fiscal service 200000 7 to record the obligation and disbursement of funds to nonfederal recipients investments redeemed in the previous transaction are enough to cover disbursement needs (tc b107) budgetary 4620 unobligated funds not subject to apportionment 12000 4902 delivered orders obligations paid 12000 proprietary 6100 operating expensesprogram costs 12000 1010 fund balance with treasury 12000 8 to record the maturity of security b a to record the collection of interest deposited into the trust fund receipt account (tc a196) budgetary 4114 appropriated trust or special fund receipts 100000 4620 unobligated funds not subject to apportionment 100000 proprietary 1010 fund balance with treasury 100000 1340 interest receivable 100000 b to record the amortization of the premium (tc d510) budgetary none proprietary 5310 interest revenue 10000 1613 amortization of discount and premium on us treasury securities issued by fiscal service 10000 c to record the redemption budgetary resources were previously reduced for premium at the time of purchase (tc c122) budgetary none proprietary 1010 fund balance with treasury 5000000 1610 investments in us treasury securities issued by fiscal service 5000000 1613 amortization of discount and premium on us treasury securities issued by fiscal service 10000 1612 premium on us treasury securities issued by fiscal service 10000 9 to record the collection of additional receipts that are deposited into the trust fund receipt account the receipts are automatically credited to the corresponding expenditure account whereby they can be invested (tc a186) budgetary 4114 appropriated trust or special fund receipts 500000 4620 unobligated funds not subject to apportionment 500000 proprietary 1010 fund balance with treasury 500000 5800 tax revenue collected 500000 10 to record the immediate investment of the receipts in us treasury security c issued by the bureau of the fiscal service the security has a par value of $500000 and was purchased at a discount of $40000 (tc b128) budgetary none proprietary 1610 investments in us treasury securities issued by fiscal service 500000 1611 discount on us treasury securities issued by fiscal service 40000 1010 fund balance with treasury 460000 11 to record the amortization of the discount for security c (tc d510) budgetary none proprietary 1613 amortization of discount and premium on us treasury securities issued by fiscal service 10000 5310 interest revenue 10000 note: for those trust funds with receipts that are limited to the years obligations an adjusting entry is required follow the guidance in scenario ii: trust fund balances precluded from obligation for treatment of unobligated balances budgetary preclosing adjusted trial balance (facts ii atb): 4114 6790000 4620 6778000 4902 12000 6790000 6790000 budgetary closing entries: c1 to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 6790000 4114 appropriated trust or special fund receipts 6790000 c2 to record the closing of expended authority paid (tc f214) 4902 delivered orders obligations paid 12000 4201 total actual resources collected 12000 budgetary postclosing trial balance: 4201 6778000 4620 6778000 6778000 6778000 proprietary preclosing trial balance (facts i trial balance): 1010 6318000 1340 1000 1610 500000 1611 40000 1613 10000 5310 301000 5800 6500000 6100 12000 6841000 6841000 proprietary closing entries: c1 to record the closing of revenues and expenses to cumulative results of operations (tc f228) 5310 interest revenue 301000 5800 tax revenue collected 6500000 3310 cumulative results of operations 6789000 6100 operating expensesprogram costs 12000 proprietary postclosing trial balance: 1010 6318000 1340 1000 1610 500000 1611 40000 1613 10000 3310 6789000 6829000 6829000 sf 133: report on budget execution and budgetary resources (quarter 4): 1a appropriations (4114e) 6790000 2a unobligated balance brought forward 3 spending authority from offsetting collections 5 temporarily not available pursuant to public law 7 total budgetary resources 6790000 8a1 obligations incurred direct 8a3 obligations incurred direct not subject to apportionment (4902e) 12000 9 unobligated balances available (4620e) 6778000 11 total status of budgetary resources 6790000 12 obligated balance net as of october 1 13 obligated balance transferred net 14 obligated balance net end of period 15a disbursements (4902e) 12000 ussgl 2108: yearend closing statement: column 5 postclosing unexpended balance (1010e) 6318000 column 6 other authorizations (1610e 1611e) 460000 column 11 unobligated balance (4620e) 6778000 program and financing schedule (pf): obligations by program activity 1000 total new obligations (4902e) 12000 budgetary resources available for obligation 2140 unobligated balance available start of year 0 2200 new budget authority(gross) (sum 4000 to 6990) 6790000 2395 total new obligations () (from line 1000) (12000) 2499 unobligated balance carried forward end of year (4620e) 6778000 new budgetary authority (gross) detail 4026 appropriation (trust fund definite) (4114e) 6790000 7000 total new budget authority (gross) (4114e) 6790000 memorandum entries 9201 total investments start of year (par) (1610b) 0 9202 total investments end of year (par) (1610e) 500000 omb form and content statements balance sheet assets 1a1 fund balance with treasury (1010e) 6318000 1a4 investments (1340e 1610e 1611e 1613e) 471000 liabilities and net position 6b cumulative results of operations (3310e) 6789000 statement of net cost 1 program costs public production (6100e) 12000 1d less earned revenue 02 4 net cost of operations (calculation) 12000 statement of changes in net position 1 net cost of operations 12000 2b taxes (and other nonexchange revenue) (5310e 5800e) 6801000 9 net position end of period (calculation 21) 6789000 2 for most trust funds invested balances are derived predominantly from earmarked taxes and other nonexchange revenue accordingly the interest earned is classified as nonexchange thus not deducted from the gross cost of operations for those trust funds however where the main source of balances consist of exchange revenue (eg civil service retirement and disability fund) the interest shall be classified as exchange and thus deducted from the gross cost of operations (see sffas 7 306308) omb form and content statements (continued) statement of budgetary resources 1a budget authority appropriations (4114e) 6790000 5 total budgetary resources 6790000 6 obligations incurred (4902e) 12000 7b unobligated exempt from apportionment (4620e) 6778000 9 total status of budgetary resources 6790000 10 obligations incurred (4902e) 12000 statement of financing 1 obligations and nonbudgetary resources (4902e) 12000 2 resources that do not fund net cost of operations 0 3 components of costs of operations that do not require or generate resources 0 4 financing sources yet to be provided 0 5 net cost of operations 12000 treasurymanaged trust funds are a unique group of accounts in that the law has designated the secretary of treasury to act as managing trustee for a named group of trust funds fiscal service administers this function treasurymanaged trust funds are comprised of an individual tafs reported by fiscal service (referred to as the corpus account) and an individual tafs reported by the program agency (referred to as the agency account) in most instances fiscal service tafs are structured as 20x8000; the 20 indicates treasury x represents the period of availability and 8000 represents the trust fund series the agency tafs are established in one of two ways: either as a separate appropriation fund symbol (ie 69x8123) or as a transfer appropriation symbol which is commonly referred to as an allocation account (ie 75 20x8000) allocation accounts are symbolized by adding the receiving agencys department prefix to the original appropriation fund symbol in the example above the 75 represents the us department of health and human services the scenario that follows was developed for the allocationtype treasurymanaged trust funds refer to scenario vi trust fund appropriation transfers for specific treasury appropriation fund symbols for transactions between specific treasurymanaged trust funds and other trust fund appropriation accounts in appearance the treasurymanaged trust fund allocation accounts resemble general fund allocation accounts but in practice there are several differences first most trust funds have investment authority while general funds typically do not investment authority resides with the corpus account and is managed by fiscal service because fiscal service manages the trust funds investments in the corpus account and the agency manages the trust funds obligations and disbursements in the allocation account sound cash management principles must be enforced this is discussed in more detail below second yearend reporting requirements for the treasurymanaged trust fund allocation accounts require that any amounts receivable or payable between the corpus and agency accounts either net to zero or be eliminated this concept affects the sf 133 ussgl 2108 and pf presentations as well as agency and governmentwide financial statement presentations scenario v illustrates this theory the flowchart at the beginning of this section illustrates the basic framework and flow of activity within a treasurymanaged trust fund allocation account receipts are recorded in the corpus account and then invested based upon the terms stipulated by statute or trust agreement as funds are needed by the agency account for disbursement the program agency contacts fiscal service for a transfer of funds (accomplished via sf 1151) the fiscal service then disinvests the funds so that the transfer may be accomplished the treasurymanaged trust fund allocation accounts also record nonexpenditure transfers that occur between other trust funds as well as expenditure transfers with federal funds (refer to scenario i basic trust fund accounting) in contrast with other federal nonexpenditure transfers transfers between trust fund corpus accounts and agency allocation accounts require different accounting and reporting treatment to maintain sound cash management principles funds remain invested until needed for disbursement to maximize interest earned since fiscal service performs the investment function and the program agency performs the obligation and disbursement function a budgetary mechanism is sometimes needed to transfer the budget authority prior to actually transferring the funds that mechanism results in a receivable and payable transaction recorded by each entity another notable concept is that the corpus tafs consists of one or more receipt accounts (ie 20x8000001 20x8000002) and a corresponding expenditure account (ie 20x8000) trust fund receipts are often comprised of taxes customs duties fines penalties etc and are first credited to a trust fund receipt account because the law designates the treasurymanaged trust fund receipt accounts subject to this guidance as available for expenditure the receipts are automatically credited to the corresponding expenditure account there is no current requirement to have separate ussgl accounting for available trust fund receipt accounts; therefore the following transactions combine activity of receipt and expenditure accounts below are the ussgl accounts commonly used by treasurymanaged trust fund allocation accounts 1330 receivable for transfers of currently invested balances 2150 payable for transfers of currently invested balances 4165 allocations of authority anticipated from invested balances 4166 allocations of realized authority to be transferred from invested balances 4167 allocations of realized authority transferred from invested balances 5755 nonexpenditure financing sources transfersin 5765 nonexpenditure financing sources transfersout the scenario also illustrates the unique reporting requirements for budgetary and proprietary transactions for facts i (proprietary) and omb form and content reporting the agency account consolidates the data from the corpus account and reports the trust fund as a whole for facts ii (primarily budgetary) reporting (sf 133 ussgl 2108 pf) each tafs submits its portion of the activity and then treasury and omb merge the data 1 to record amounts anticipated by agency for transfer from the corpus account this is based upon an sf 132: apportionment and reapportionment schedule request na 1 to record amounts anticipated by agency for transfer from the corpus account this is based upon an sf 132: apportionment and reapportionment schedule request (tc a204) budgetary 4165 allocations of authority anticipated from invested balances 50000 4450 unapportioned authority 50000 proprietary none 2 to record receipts credited to the corpus account (note: this transaction combines the activity of the receipt and expenditure accounts) (tc a186) budgetary 4114 appropriated trust or special fd receipts 70000 4620 unob fds not subject to apport 70000 proprietary 1010 fund balance with treasury 70000 5800 tax revenue collected 70000 2 to record receipts credited to the corpus account (note: this transaction combines the activity of the receipt and expenditure accounts) na 3 to record the investment of receipts in par value securities issued by the bureau of the fiscal service1 (tc b124) budgetary none proprietary 1610 investments in us treas securities issued by fiscal service 70000 1010 fund balance with treasury 70000 3 to record the investment of receipts in par value securities issued by the bureau of the fiscal service na 4 to record apportionment of funds based on an approved sf 132: apportionment and reapportionment schedule na 4 to record apportionment of funds anticipated in transaction 1 based on an approved sf 132: apportionment and reapportionment schedule (tc a116) budgetary 4450 unapportioned authority 50000 4510 apportionments 50000 proprietary none 1 this is a basic transaction to illustrate that the receipts collected by the corpus account are immediately invested no further investment activity is reflected in this scenario refer to scenario iv trust fund investments as well as section iii accounting transactions of tfm s20102 (as updated) for more detailed guidance on trust fund investments 5 to record receivablespayables for the transfer of authority and financing sources this may be based upon an amount specified in an annual appropriation act or based upon an agencys authority to obligate a to record a payable prior to the sf 1151: nonexpenditure transfer authorization request2 (tc a223) budgetary 4620 unob fds not subject to apport 25000 4166 allocations of realized authority to be transferred from invested bal 25000 proprietary 5765 nonexpenditure financing sources transfersout 25000 2150 payable for transf of currently invested balances 25000 5 to record receivablespayables for the transfer of authority and financing sources this may be based upon an amount specified in an annual appropriation act or based upon an agencys authority to obligate a to record a receivable prior to the sf 1151: nonexpenditure transfer authorization request2 (tc a217) budgetary 4166 allocations of realized authority to be transferred from invested balances 25000 41653 allocations of authority anticipated from invested balances 25000 proprietary 1330 receiv for transf of curr invested bal 25000 5755 nonexpenditure financing sources transfersin 25000 2 proprietary receivablepayable transactions within treasurymanaged trust fund allocation accounts must be eliminated for agency and governmentwide financial statements for facts i (proprietary) reporting one trial balance is submitted by the agency containing the appropriate data for both accounts the elimination entry related to this transaction is illustrated after the postclosing trial balance 3 for activity that is not subject to apportionment a credit to ussgl account 4620 unobligated funds not subject to apportionment may be appropriate refer to section iii accounting transactions of tfm s20102 (as updated) for more comprehensive transactions b to record obligations incurred na b to record obligations incurred (tc a120 b202 b204) budgetary 4510 apportionments 25000 48014 undelivered orders obligations unpaid 25000 proprietary none 4 this step may be skipped for activity that goes directly to expended authority (ussgl 49xx series) refer to section iii accounting transactions of tfm s20102 (as updated) for more comprehensive transactions 6 to record payable for expenses incurred na 6 to record payable for expenses incurred (tc b302) budgetary 4801 unexpended obligations unpaid 25000 4901 delivered orders obligations unpaid 25000 proprietary 6100 operating expensesprogram costs 25000 2110 accounts payable 25000 budgetary: adjusting entry a1) to record appropriated receipts temporarily precluded from obligation (tc a127) 4620 unoblig fds not subject to apport 45000 43975 receipts and approps temp precluded from obligation 45000 5 many of the treasurymanaged trust fund allocation accounts have limitations on obligations for those that do not follow the guidance in scenario i basic trust fund accounting of this guide for those that do refer to scenario ii trust fund balances precluded from obligation for a more detailed illustration budgetary: adjusting entry a1) to record adjustments for anticipated resources not realized (tc f112) 4450 unapportioned authority 25000 4165 allocations of authority anticipated from invested balances 25000 budgetary: preclosing adjusted trial balance (facts ii submission) 4114 70000 4166 25000 4397 45000 70000 70000 budgetary: preclosing adjusted trial balance (facts ii submission) 4166 25000 4450 25000 4510 25000 4901 25000 50000 50000 budgetary: closing entry c1) to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 70000 4114 appropriated trust or special fund receipts 70000 postclosing trial balance 4166 25000 4201 70000 4397 45000 70000 70000 budgetary: closing entry c1) to record the closing of unobligated balances to unapportioned authority (tc f210) 4510 apportionments 25000 4450 unapportioned authority 25000 postclosing trial balance 4166 25000 4901 25000 25000 25000 proprietary: preclosing trial balance 1610 70000 2150 25000 5765 25000 5800 70000 95000 95000 closing entry c1) to record the closing of revenue and other financing sources accounts to cumulative results of operations (tc f228) 5800 tax revenue collected 70000 3310 cum results of operations 45000 5765 nonexpenditure financing sources transfersout 25000 proprietary: preclosing trial balance 1330 25000 2110 25000 5755 25000 6100 25000 50000 50000 closing entry c1) to record the closing of expense and other financing source accounts to cumulative results of operations (tc f228) 5755 nonexpenditure financing sources transfersin 25000 3310 cum results of operations 25000 3310 cumulative results of operations 25000 6100 operating expensesprogram costs 25000 proprietary: postclosing trial balance 1610 70000 2150 25000 3310 45000 70000 70000 proprietary: postclosing trial balance 1330 25000 2110 25000 25000 25000 proprietary: na proprietary: eliminating entry6 6 keep this entry separate from the main general ledger this entry is necessary for accurate agency and governmentwide (facts i) financial statement presentations e1) to eliminate proprietary receivables and payables between the corpus and agency accounts prior to the facts i trial balance submission 2150 payable for transfers of curr invested bal 25000 1330 receivable for transfers of currently invested balances 25000 5755 nonexpenditure financing sources transin 25000 5765 nonexpenditure financing sources transfersout 25000 facts i trial balance (preclosing) (consolidated corpus and agency account) 1610 70000 2110 25000 5800 70000 6100 25000 95000 95000 sf133: report on budget execution and budgetary resources (yearend)7 7 the corpus and agency accounts submit budget data separately via facts ii sf 133 data is extracted and consolidated by omb budgetary resources corpus account agency account 1 budget authority a appropriations (4114e) 70000 0 d net transfers current year authority realized (4166eb) (25000) 25000 2 unobligated balance (4166b) 0 0 5 temporarily not available pursuant to public law (4397eb) (45000) 7 total budgetary resources 0 25000 status of budgetary resources 8 obligations incurred (4901eb) 0 25000 10 unobligated balances (not available) (4450e 4510e) 0 0 11 total status of budgetary resources 0 25000 relation of obligations to outlays 14 obligated balance net end of period d (4901e) 0 25000 15 outlays a disbursements (4902e) 0 0 b collection ussgl 2108: yearend closing statement8 8 the corpus and agency accounts submit budget data separately via facts ii ussgl 2108 data is extracted and consolidated by treasury 9 the receivablepayable amounts to be transferred (ussgl account 4166) reflected in column 7 must net to zero when combined corpus account agency account column 6 other authorizations (1610e) 70000 0 column 7 reimbursements earned (4166e)9 (25000) 25000 column 10 accounts payable (4901e) 0 25000 column 11 unobligated balance (4397e 4450e 4510e) 45000 0 consolidated schedule p program financing10 10 the corpus and agency accounts submit budget data separately via facts ii pf data is extracted and consolidated by omb 11 line 4100 reflects the corpus accounts 4166eb payable balance to be transferred line 4200 reflects the agency accounts 4166eb receivable balance to be transferred these amounts must match budgetary resources available for obligation 2200 new budget authority (gross) (4114e 4397eb) 25000 2395 total new obligations () (4901eb) (25000) new budgetary authority (gross) detail 40276027 appropriation (trust fund indefinite) (4114e) 70000 4100 transferred to other accounts () (4166eb)11 (25000) 4200 transferred from other accounts (4166eb) 25000 6045 portion precluded from obligation () (4397eb) (45000) 6250 appropriation (total) 25000 change in unpaid obligations 7299 total unpaid obligations start of year (4901b) 0 7310 total new obligations (4901eb) 25000 7499 total unpaid obligations end of year (4901e) 25000 memorandum entries 9201 total investments start of year (1610b) 0 9202 total investments end of year (1610e) 70000 consolidated corpusagency form and content statements 12 12 the corpus and agency accounts are consolidated by the agency in preparation of the omb form and content statements any transfers between the corpus and agency accounts are eliminated balance sheet assets 1a4 investments (1610e) 70000 liabilities and net position 4b1 accounts payable (2110e) 25000 8 cumulative results of operations (3310e) 45000 statement of net cost 1b1 program costspublic production (6100e) 25000 1d less earned revenue 0 5 net cost of operations (calculation) 25000 statement of changes in net position 1 net cost of operations 25000 2b financing sourcestaxes (5800e) 70000 9 net positionend of period (calculation) 45000 consolidated corpusagency form and content statements (continued) statement of budgetary resources 1a budget authority appropriations (4114e) 70000 1d net transfers (4166eb) 0 4b adjustmentstemporarily not available (4397eb) (45000) 5 total budgetary resources 25000 6 obligations incurred (4901eb) 25000 8 unobligated balances not yet available (4450e 4510e) 0 9 total status of resources 25000 10 obligations incurred (4901eb) 25000 14d less: accounts payable (4901e) 25000 15 total outlays (calculation) 0 statement of financing 1a obligations incurred (4901eb) 25000 1j total (calculation) 25000 5 net cost of operations (calculation) 25000 1 agency account requests transfer of funds to meet disbursement needs a to record disinvestment of funds (tc c120) budgetary none proprietary 1010 fund balance with treasury 25000 1610 investments in us treasury securities issued by fiscal service 25000 b to record actual transfer of funds (sf 1151 non expenditure transfer authorization) between corpus and agency accounts (tc a225) budgetary 4166 allocations of realized authority to be transferred from invested balances 25000 4167 allocations of realized authority transferred from invested balances 25000 proprietary 2150 payable for transfers of currently invested balances 25000 1010 fund balance with treasury 25000 1 agency account requests transfer of funds to meet disbursement needs a to record disinvestment of funds na b to record actual transfer of funds (sf 1151 non expenditure transfer authorization) between corpus and agency accounts (tc a219) budgetary 4167 allocations of realized authority transferred from invested balances 25000 4166 allocations of realized authority to be transferred from invested balances 25000 proprietary 1010 fund balance with treasury 25000 1330 receivable for transfers of currently invested balances 25000 c to record disbursement of funds na c to record disbursement of funds (tc b110) budgetary 4901 delivered orders obligations unpd 25000 4902 delivered orders oblig paid 25000 proprietary 2110 accounts payable 25000 1010 fund balance with treasury 25000 budgetary: beginning trial balance 4166 25000 4201 70000 4397 45000 70000 70000 (no adjusting entries) preclosing adjusted trial balance (facts ii submission) 4167 25000 4201 70000 4397 45000 70000 70000 budgetary: beginning trial balance 4166 25000 4901 25000 25000 25000 (no adjusting entries) preclosing adjusted trial balance (facts ii submission) 4167 25000 4902 25000 25000 25000 budgetary: closing entry c1) to record the consolidation of actual netfunded resources (tc f204) 4167 allocations of realized authority transferred from invested balances 25000 4201 total actual resources collected 25000 postclosing trial balance: 4201 45000 4397 45000 45000 45000 budgetary: closing entries c1) to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 25000 4167 allocations of realized authority transferred from invested balances 25000 c1) to record the closing of expended authority paid (tc f214) 4902 delivered orders obligations paid 25000 4201 total actual resources coll 25000 postclosing trial balance none proprietary: beginning trial balance 1610 70000 2150 25000 3310 45000 70000 70000 preclosing trial balance 1610 45000 3310 45000 45000 45000 closing entry none postclosing trial balance 1610 45000 3310 45000 45000 45000 proprietary: beginning trial balance 1330 25000 2110 25000 25000 25000 preclosing trial balance none closing entry none postclosing trial balance none facts i trial balance (preclosing) (consolidated corpus and agency account) 1610 45000 3310 45000 45000 45000 trust fund sf133: report on budget execution and budgetary resources (yearend) budgetary resources corpus account agency account 1 budget authority a appropriations d net transfers current year authority realized (4166eb4167e) 0 0 2 unobligated balance (4201b 4397b 4901b 4166b) 0 0 5 temporarily not available pursuant to public law (4397eb) 0 0 7 total budgetary resources 0 0 status of budgetary resources 8 obligations incurred (4901eb 4902e) 0 0 11 total status of budgetary resources 0 0 relation of obligations to outlays 12 obligated balance net as of october 1 (4901b) 0 25000 15 outlays a disbursements (4902e) 0 25000 b collections ussgl 2108: yearend closing statement corpus account agency account column 6 other authorizations (1610e) 45000 0 column 11 unobligated balance (4397e) 45000 0 consolidated schedule p program financing budgetary resources available for obligation 2200 new budget authority (gross) (4114e 4397eb) 0 2395 total new obligations () (4901eb 4902eb) 0 new budgetary authority (gross) detail 40276027 appropriation (trust fund indefinite) (4114e) 0 4100 transferred to other accounts () (4166eb 4167e) 0 4200 transferred from other accounts (4166eb 4167e) 0 6045 portion precluded from obligation () (4397eb) ( 0) change in unpaid obligations 7299 total unpaid obligations start of year (4901b) 25000 7310 total new obligations (4901eb) (25000) 7499 total unpaid obligations end of year (4901e) 0 memorandum entries 9201 total investments start of year (1610b) 70000 9202 total investments end of year (1610e) 45000 consolidated corpusagency form and content statements 13 13 the corpus and agency accounts are consolidated by the agency in preparation of the omb form and content statements any transfers between the corpus and agency accounts are eliminated balance sheet assets 1a4 investments (1610e) 45000 liabilities and net position 8 cumulative results of operations (3310e) 45000 statement of net cost 0 statement of changes in net position 1 net cost of operations 0 8 net positionbeginning of period (3310b) 45000 9 net positionend of period (calculation) 45000 consolidated corpusagency form and content statements (continued) statement of budgetary resources 1a budget authority appropriations 0 1d net transfers (4166eb 4167e) 0 2a unobligated balance available (4201b4166b4397b) 0 4b adjustmentstemporarily not available (4397eb) 0 5 total budgetary resources 0 6 obligations incurred (4901eb4902e) 0 9 total status of resources 0 10 obligations incurred (4901eb 4902e) 0 12 obligated balance netbeginning (4901b) 25000 15 total outlays (calculation) 25000 statement of financing 1a obligations incurred (4901eb4902e) 0 1j total (calculation) 0 5 net cost of operations (calculation) 0 scenario vi addresses the budgets unique presentation of nonexpenditure appropriation transfers1 for tafs involving two specific entities: transferringout entities which are treasurymanaged trust funds and receiving entities which are agency trust funds currently only four transferringout treasurymanaged trust fund entities are subject to this guidance: airport and airway trust fund aquatic resources trust fund highway trust fund and oil spill liability trust fund these funds are designed to collect receipts and transferout based upon the legislation of the receiving entities there are however multiple agency receiving entities involved the receiving entities are responsible for managing the program activities including tracking and recording appropriations and disbursements 1 tfm vol i part 2 chapter 2000 defines nonexpenditure transactions the reporting characteristics of the nonexpenditure transfers between the entities are very unique compared to typical nonexpenditure appropriation transfers in the budget the entities transferringout do not present pfs (with the exception of the memorandum entries); they only present schedules of unavailable collections (schedule ns) budget authority which mainly consists of tax receipts and interest earned is not executable for the receiving entities pfs are presented in the budget but schedule ns are not furthermore definite amounts are typically appropriated annually to the receiving entities but the amounts are appropriated from the receipts collected by the transferringout entities these are not appropriations from the general fund of treasury fiscal service forms 6200: appropriation warrants are not processed instead the appropriations are accomplished via sf 1151 however in the budget they are to be recorded as appropriations not as transfers in reporting terminology the appropriation is to be recorded on sf 133 line 1a not line 1d and also the respective pf appropriation lines not the pf transfer lines the tar of the receiving entities which is derived in part from ussgl 2108s reflects currentyear nonexpenditure transfers in the appropriations and other obligational authority column (includes appropriations and appropriation transfer activity) and prioryear nonexpenditure transfers in the transfers column the four ussgl accounts below were established to account for this unique activity: 4126 amounts appropriated from specific treasurymanaged trust fund tafs receivable 4127 amounts appropriated from specific treasurymanaged trust fund tafs payable 4128 amounts appropriated from specific treasurymanaged trust fund tafs transfersin 4129 amounts appropriated from specific treasurymanaged trust fund tafs transfersout prior to the establishment of these accounts all ussgl transfer accounts representing currentyear nonexpenditure activity crosswalked to transfer lines on the sf 133 (line 1d) and pf (lines 4100 4200 6100 6200) the characteristics described above require the transfers to crosswalk to appropriation lines therefore ussgl account 4128 was established to account for nonexpenditure transfersin that crosswalk to sf 133 and pf appropriation lines account 4129 was established to account for nonexpenditure transfersout that do not crosswalk to the sf 133 or pf since the authority is not executable furthermore a mechanism is sometimes needed to transfer authority to the receiving entity prior to transferring the funds this gives the receiving entity the resource from which to obligate the funds remain in the transferringout tafs in order to maximize interest earned until such time as needed by the receiving entity for disbursement in order to support this mechanism ussgl accounts 4126 and 4127 were established to represent receivable and payable amounts between the two entities these accounts will crosswalk to sf 133 pf and ussgl 2108 lines to accurately reflect authority transferred prior to funds year 1 illustrates receipts credited to a treasurymanaged trust fund account where the receipts are immediately available for investment but not available for obligation a specific amount is then appropriated in the agencys appropriation act to the agency trust fund account for year 1 assume that the full amount appropriated is simultaneously transferred via sf 1151 1 to record receipts credited to the treasurymanaged trust fund account (note: this transaction combines the activity of the receipt and expenditure accounts) (tc a188) budgetary 4114 appropriated trust or special fund receipts 100000 4394 receipts not available for obligation upon collection 100000 proprietary 1010 fund balance with treasury 100000 5800 tax revenue collected 100000 1 to record receipts credited to the treasurymanaged trust fund account (note: this transaction combines the activity of the receipt and expenditure accounts) na 2 to record the investment of receipts in par value securities issued by the bureau of the fiscal service2 (tc b124) budgetary none proprietary 1610 investments in us treas securities issued by fiscal service 100000 1010 fund balance with treasury 100000 2 to record the investment of receipts in par value securities issued by the bureau of the fiscal service na 2 this is a basic transaction to illustrate that the receipts collected by the corpus account are immediately invested no further investment activity is reflected in this scenario refer to scenario iv trust fund investments of this guide as well as section iii accounting transactions of tfm s20102 (as updated) for more detailed guidance on trust fund investments 3 to record amounts appropriated from the treasurymanaged trust fund to the agency trust fund expenditure account this amount is specified in the agencys appropriation or authorization act immediately thereafter in order to fulfill cash needs the full amount of the appropriation is transferred to the agency trust fund expenditure account via sf 1151 a to record the disinvestment of funds prior to the transfer (tc c120) budgetary none proprietary 1010 fund balance with treasury 25000 1610 investments in us treas securities issued by fiscal service 25000 b to record the transfer of funds via sf 1151 (tc a278) budgetary 4394 receipts not available for obligation upon collection 25000 4129 amounts appropriated from specific treasurymanaged trust fund tafs transfersout 25000 proprietary 5765 nonexpend financing sources transout 25000 1010 fund balance with treasury 25000 3 to record amounts appropriated to the agency trust fund expenditure account from the treasurymanaged trust fund this amount is specified in the agencys appropriation or authorization act immediately thereafter in order to fulfill cash needs the full amount of the appropriation is transferred to the agency trust fund expenditure account via sf 1151 (tc a276) budgetary 4128 amounts appropriated from specific treasurymanaged trust fund tafs transfersin 25000 4450 unapportioned authority 25000 proprietary 1010 fund balance with treasury 25000 5755 nonexpend financing sources transin 25000 4 to record apportionment allotment expenditure and disbursement to nonfederal recipients na 4 to record apportionment allotment expenditure and disbursement to nonfederal recipients3 (tc a116 a120 b107) budgetary 4450 unapportioned authority 25000 4902 delivered orders obligations paid 25000 proprietary 6100 operating expensesprogram costs 25000 1010 fund balance with treasury 25000 3 the ussgl entries for budgetary control and obligations for trust funds are the same as those published in tfm s20102 (as updated) for purposes of illustration only the final results are shown here budgetary: preclosing adjusted trial balance (facts ii submission): 4114 100000 4129 25000 4394 75000 100000 100000 closing entry: c1) to record the consolidation of actual netfunded resources (tc f204) 4129 amounts appropriated from specific treasury managed trust fund tafs transfersout 25000 4201 total actual resources collected 75000 4114 appropriated trust or special fund receipts 100000 postclosing trial balance: 4201 75000 4394 75000 75000 75000 budgetary: preclosing adjusted trial balance (facts ii submission): 4128 25000 4902 25000 25000 25000 closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 25000 4128 amounts appropriated from specific treasurymanaged trust fund tafs transfersin 25000 c2) to record the closing of expended authority paid (tc f214) 4902 delivered orders obligations paid 25000 4201 total actual resources collected 25000 postclosing trial balance: na proprietary: preclosing trial balance: 1610 75000 5765 25000 5800 100000 100000 100000 closing entry: c1) to close revenues into cumulative results of operations (tc f228) 5800 tax revenue collected 100000 3310 cum results of operations 75000 5765 nonexpenditure financing sources transfersout 25000 postclosing trial balance: 1610 75000 3310 75000 75000 75000 proprietary: preclosing trial balance: 5755 25000 6100 25000 25000 25000 closing entry: c1) to close revenues and expenses into cumulative results of operations (tc f228) 5755 nonexpenditure financing sources transfersin 25000 3310 cum results of operations 25000 3310 cumulative results of operations 25000 6100 operating expensesprogram costs 25000 postclosing trial balance: na schedule on unavailable collections (schedule n) 0199 balance start of year 0 0299 total receipts 100000 0599 subtotal appropriation () (25000) 0799 total balance end of year 75000 sf 133: report on budget execution and budgetary resources (yearend) na ussgl 2108: yearend closing statement column 6 other authorizations (1610e) 75000 column 11 unobligated balance (4394e) 75000 schedule on unavailable collections (schedule n) na sf 133: report on budget execution and budgetary resources (yearend) 1 budgetary authority a appropriations (4128e) 25000 7 total budgetary resources 25000 8 obligations incurred (4902e) 25000 11 total status of budgetary resources 25000 15a outlays disbursements (4902e) 25000 ussgl 2108: yearend closing statement column 5 postclosing unexpended balance (1010e) 0 column 11 unobligated balance 0 program and financing schedule (pf) memorandum entries 9201 total investments start of year (1610b) 0 9202 total investments end of year (1610e) 75000 program and financing schedule (pf) obligations by program activity 1000 total new obligations (4902e) 25000 budgetary resources available for obligation 2140 unobligated balance available start of year 0 2200 new budget authority (gross) (sum 4000 to 6990) 25000 2395 total new obligations () (from line 1000) 25000 2499 unobligated bal carried forward end of year (4450e) 0 new budgetary authority (gross) detail 4026 appropriation (discr)(trust fund definite) (4128e) 25000 7000 total new budget authority (gross) (4128e) 25000 memorandum entries na omb form and content statements na omb form and content statements (consolidated) balance sheet assets 1a1 fund balance with treasury (1010e) 0 1a4 investments (1610e) 75000 liabilities and net position 8 cum results of operations (3310e) 75000 statement of net cost 1b1 program costs public production (6100e) 25000 1d less earned revenue 0 5 net cost of operations (calc) 25000 statement of changes in net position 1 net cost of operations 25000 2b financing sourcestaxes (5800e) 100000 9 net positionend of period (calc) 75000 omb form and content statements (continued) na omb form and content statements (consolidated) (continued) statement of budgetary resources 1a budg auth approps (4114e 4394eb 4128e 4129e) 25000 5 total budgetary resources 25000 6 obligations incurred (4902e) 25000 9 total status of resources 25000 10 obligations incurred (4902e) 25000 15 total outlays (calculation) 25000 statement of financing 1a obligations incurred (4902e) 25000 1j total (calc) 25000 5 net cost of operations (calc) 25000 year 2 illustrates receipts credited to a treasurymanaged trust fund account where the receipts are immediately available for investment but not available for obligation a specific amount is then appropriated in the agencys appropriation act to the agency trust fund account for year 2 assume that actual funds are not immediately needed for disbursement; therefore a corresponding receivablepayable will be established on the books for the amount of the appropriation in order to maintain sound cash management principles obligations may be incurred by the agency but disbursements may not be made until an sf 1151 is accomplished 1 to record receipts credited to the treasurymanaged trust fund account (note: this transaction combines the activity of the receipt and expenditure accounts) (tc a188) budgetary 4114 appropriated trust or special fund receipts 500000 4394 receipts not available for obligation upon collection 500000 proprietary 1010 fund balance with treasury 500000 5800 tax revenue collected 500000 1 to record receipts credited to the treasurymanaged trust fund account (note: this transaction combines the activity of the receipt and expenditure accounts) na 2 to record the investment of receipts in par value securities issued by the bureau of the fiscal service4 (tc b124) budgetary none proprietary 1610 investments in us treas securities issued by fiscal service 500000 1010 fund balance with treasury 500000 2 to record the investment of receipts in par value securities issued by the bureau of the fiscal service na 4 this is a basic transaction to illustrate that the receipts collected by the corpus account are immediately invested no further investment activity is reflected in this scenario refer to scenario iv trust fund investments of this guide as well as section iii accounting transactions of tfm s20102 (as updated) for more detailed guidance on trust fund investments 3 to record a payable for amounts appropriated from the treasurymanaged trust fund to the agency trust fund expenditure account this amount is specified in the agencys appropriation or authorization act in order to maintain sound cash management principles the funds will not be transferred until needed for disbursement (tc a270) budgetary 4394 receipts not available for obligation upon collection 250000 4127 amounts appropriated from specific treasurymanaged trust fund tafs payable 250000 proprietary 5765 nonexpend financing sources transout 250000 2150 payable for transfers of currently invested balances 250000 3 to record a receivable for amounts appropriated from the treasurymanaged trust fund to the agency trust fund expenditure account this amount is specified in the agencys appropriation or authorization act in order to maintain sound cash management principles the funds will not be transferred until needed for disbursement (tc a268) budgetary 4126 amounts appropriated from specific treasurymanaged trust fund tafs receivable 250000 4450 unapportioned authority 250000 proprietary 1330 receivable for transfers of currently invested balances 250000 5755 nonexpenditure financing sources transfersin 250000 4 to record apportionment allotment and obligations incurred na 4 to record apportionment allotment and obligations incurred and to set up payable to nonfederal recipients5 (tc a116 a120 b314) budgetary 4450 unapportioned authority 225000 4901 delivered orders obligations unpaid 225000 proprietary 6100 operating expensesprogram costs 225000 2110 accounts payable 225000 5 the ussgl entries for budgetary control and obligations for trust funds are the same as those published in tfm s20102 (as updated) for purposes of illustration only the final results are shown here 5 to record the actual transfer of funds from the treasury managed trust fund account accomplished via sf 1151 a to record the disinvestment of funds prior to the transfer (tc c120) budgetary none proprietary 1010 fund balance with treasury 200000 1610 investments in us treasury securities issued by fiscal service 200000 b to record the transfer of funds via sf 1151 (tc a274) budgetary 4127 amounts appropriated from specific treasurymanaged trust fund tafs payable 200000 4129 amounts appropriated from specific treasurymanaged trust fund tafs transfersout 200000 proprietary 2150 payable for transfers of currently invested balances 200000 1010 fund balance with treasury 200000 5 to record the actual transfer of funds to the agency trust fund account from the treasurymanaged trust fund account accomplished via sf 1151 (tc a272) budgetary 4128 amounts appropriated from specific treasurymanaged trust fund tafs transfersin 200000 4126 amounts appropriated from specific treasurymanaged trust fund tafs receivable 200000 proprietary 1010 fund balance with treasury 200000 1330 receivable for transfers of currently invested balances 200000 6 to record the expenditure and disbursement of funds to non federal recipients na 6 to record the expenditure and disbursement of funds to nonfederal recipients (tc b110) budgetary 4901 delivered orders obligations unpaid 200000 4902 delivered orders obligations paid 200000 proprietary 2110 accounts payable 200000 1010 fund balance with treasury 200000 budgetary: preclosing adjusted trial balance (facts ii submission): 4114 500000 4127 50000 4129 200000 4201 75000 4394 325000 575000 575000 closing entry: c1) to record the consolidation of actual netfunded resources (tc f204) 4129 amounts appropriated from specific treasury mgd trust fund tafs transfersout 200000 4201 total actual resources collected 300000 4114 appropriated trust or special fund receipts 500000 postclosing trial balance: 4127 50000 4201 375000 4394 325000 375000 375000 budgetary: preclosing adjusted trial balance (facts ii submission): 4126 50000 4128 200000 4450 25000 4901 25000 4902 200000 250000 250000 closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 200000 4128 amounts appropriated from specific treasurymanaged trust fund tafs transfersin 200000 c2) to record the closing of expended authority paid (tc f214) 4902 delivered orders obligations paid 200000 4201 total actual resources collected 200000 postclosing trial balance: 4126 50000 4450 25000 4901 25000 50000 50000 proprietary: preclosing trial balance: 1610 375000 2150 50000 3310 75000 5765 250000 5800 500000 625000 625000 closing entry: c1) to close revenues into cumulative results of operations (tc f228) 5800 tax revenue collected 500000 3310 cum results of operations 250000 5765 nonexpenditure financing sources transfersout 250000 postclosing trial balance: 1610 375000 2150 50000 3310 325000 375000 375000 proprietary: preclosing trial balance: 1330 50000 2110 25000 5755 250000 6100 225000 275000 275000 closing entry: c1) to close revenues and expenses into cumulative results of operations (tc f228) 5755 nonexpenditure financing sources transfersin 250000 3310 cum results of operations 25000 6100 operating expensesprogram costs 225000 postclosing trial balance: 1330 50000 2110 25000 3310 25000 50000 50000 schedule on unavailable collections (schedule n) 0199 balance start of year 75000 0299 total receipts 500000 0599 subtotal appropriation () (250000) 0799 total balance end of year 325000 sf 133: report on budget execution and budgetary resources (yearend) na ussgl 2108: yearend closing statement column 6 other authorizations (1610e) 375000 column 10 accounts payable (4127e) 50000 column 11 unobligated balance (4394e) 325000 schedule on unavailable collections (schedule n) na sf 133: report on budget execution and budgetary resources (yearend) 1 budgetary authority a appropriations (4126eb 4128e) 250000 2a unobligated bal brought forward (4126b 4201b) 0 7 total budgetary resources 250000 8 obligations incurred (4901eb 4902e) 225000 10 unobligated balance not available (4450e) 25000 11 total status of budgetary resources 250000 14d accounts payable (4901e) 25000 15a outlays disbursements (4902e) 200000 ussgl 2108: yearend closing statement column 5 postclosing unexpended balance (1010e) 0 column 7 reimbursements earned (4126e) 50000 column 10 accounts payable (4901e) 25000 column 11 unobligated balance (4450e) 25000 program and financing schedule (pf) memorandum entries 9201 total investments start of year (1610b) 75000 9202 total investments end of year (1610e) 375000 program and financing schedule (pf) obligations by program activity 1000 total new obligations (4901eb 4902e) 225000 budgetary resources available for obligation 2140 unobligated balance available start of year 0 2200 new budget authority (gross) (sum 4000 to 6990) 250000 2395 total new obligations () (from line 1000) 225000 2499 unobligated bal carried forward end of year (4450e) 25000 new budgetary authority (gross) detail 4026 appropriation (discr)(trust fd def) (4126eb 4128e) 250000 7000 total new budget authority (gross) (4126eb 4128e) 250000 memorandum entries na omb form and content statements na omb form and content statements (consolidated) balance sheet assets 1a1 fund balance with treasury (1010e) 0 1a4 investments (1610e) 375000 liabilities and net position 3a1 accounts payable (2110e) 25000 8 cum results of operations (3310e) 350000 statement of net cost 1b1 program costs public production (6100e) 225000 1d less earned revenue 0 5 net cost of operations (calc) 225000 statement of changes in net position 1 net cost of operations 225000 2b financing sourcestaxes (5800e) 500000 8 net position beginning of period 75000 9 net position end of period (calc) 350000 omb form and content statements (continued) na omb form and content statements (consolidated) (continued) statement of budgetary resources 1a budg auth approps (4114e 4394eb 4126eb 4127eb 4128e 4129e) 250000 2a unobligated balance brought forward (4126b 4127b 4201b 4394b) 0 5 total budgetary resources 250000 6 obligations incurred (4901eb 4902e) 225000 8 unobligated balances not yet available (4450e) 25000 9 total status of resources 250000 10 obligations incurred (4901eb 4902e) 225000 14d accounts payable (4901e) 25000 15 total outlays (calculation) 200000 statement of financing 1a obligations incurred (4901eb 4902e) 225000 1j total (calc) 225000 5 net cost of operations (calc) 225000 scenario vii illustrates the liquidation of contract authority for trust funds where a nonexpenditure transfer from a fiscal service corpus trust fund account funds the liquidation for a detailed description and background related to contract authority and the ussgl accounts involved refer to contract authority scenarios posted on the ussgl web site the main factor that singles out these trust funds with contract authority from other tafs with contract authority is the involvement of at least two different entities the first entity is the piece managed by the fiscal service the fiscal service records the collection and investment of receipts for example the fiscal service managed airport and airway trust fund collects taxes paid by airport and airway users the second entity is the piece managed by the federal program agency the agency tafs is the account in which the contract authority is granted and where program activities are managed for example the federal aviation administration of the us department of transportation manages the liquidation of contract authorization trust fund and is responsible for recording the contract authority recording the appropriations to liquidate contract authority as well as tracking obligations and disbursements of the fund note that while the appropriation to liquidate contract authority is granted in appropriation acts the funds will not be transferred via sf 1151 until actually needed for disbursement this is for cash management purposes so that the interest earned in the fiscal service tafs is maximized in order to capture this concept in the ussgl and in order to support the sf 133 and pf ussgl account 4136 contract authority to be liquidated by trust funds was established and is the basis of this scenario the pages that follow present transactions of the fiscal service corpus account and the parent account the parent account represents the agency tafs and is referred to as the parent account because it commonly has authority to transfer funds to recipient tafs those types of transfers are illustrated in scenario viii trust funds with contract authority part ii: transfers of contract authority scenario vii assumes that only definite contract authority is involved and for the sake of simplicity also assumes that programs are not subject to apportionment refer to section iii accounting transactions of tfm s20102 (as updated) for a more comprehensive listing of detailed transactions year 1 fiscal service corpus account (20x8100) parent account (69x8123) 1 to record the enactment of public law for new contract authority na 1 to record the enactment of public law for new contract authority (tc a166) budgetary 4131 cy contract authority realized def 1000 4620 unob fds not subj to apport1 1000 proprietary na 2 to incur obligations na 2 to incur obligations (tc b204) budgetary 4620 unob fds not subj to apportionment 600 4801 undelivered orders oblig unpaid 600 proprietary na 1 a credit to ussgl account 4450 unapportioned authority is to be recorded for programs subject to apportionment refer to section iii accounting transactions of tfm s20102 (as updated) for more detailed transactions year 1 fiscal service corpus account (20x8100) parent account (69x8123) 3 the parent account receives an appropriation to liquidate contract authority in the amount of $400 of that amount $300 is immediately requested via sf 1151 nonexpenditure transfer to be transferred from the fiscal service corpus account to the parent account to cover the expenditure and disbursement in transaction 4 a payable is established for the remaining $100 (tc a270 a278) budgetary 4620 unob fds not subj to apport 400 4127 amts appropriated from specific treasurymgd tf tafs payable 100 4129 amts appropriated from specific treasurymanaged trust fund tafs transfersout 300 proprietary 5765 nonexpenditure financing sources transfersout 400 1010 fund balance with treasury 300 2150 payable for transfers of currently invested balances 100 3 the parent account receives an appropriation to liquidate contract authority in the amount of $400 of that amount $300 is immediately requested via sf 1151 nonexpenditure transfer to be transferred from the fiscal service corpus account to the parent account to cover the expenditure and disbursement in transaction 4 a receivable is established for the remaining $100 (tc a171 a173) budgetary 4126 amounts appropriated from specific treasury managed trust fund tafs receivable 100 4136 ca to be liquidated by tf 100 and 4138 appropriations to liquidate ca 300 4135 contract authority liquidated 300 proprietary 1010 fund balance with treasury 300 1330 receivable for transfers of currently invested balances 100 5755 nonexpenditure financing sources transfersin 400 year 1 fiscal service corpus account (20x8100) parent account (69x8123) 4 to disburse and expend na 4 to disburse and expend (tc b107) budgetary 4801 undelivered orders oblig unpaid 300 4902 delivered orders oblig paid 300 proprietary 6100 operating expensesprogram costs 300 1010 fund balance with treasury 300 year 1 fiscal service corpus account (20x8100) budgetary preclosing trial balance (facts ii atb): 4127 100 4129 300 4620 400 400 400 parent account (69x8123) budgetary preclosing trial balance (facts ii atb): 4126 100 4131 1000 4135 300 4136 100 4138 300 4620 400 4801 300 4902 300 1400 1400 year 1 fiscal service corpus account (20x8100) budgetary closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4129 amounts appropriated from specific treasurymanaged trust fund tafs transfersout 300 4201 total actual resources collected 300 postclosing trial balance: 4127 100 4201 300 4620 400 400 400 parent account (69x8123) budgetary closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 300 4138 appropriations to liquidate ca 300 c2) to record the closing of fiscal year contract authority (tc f206) 4135 contract authority liquidated 300 4139 ca carried forward 700 4131 cy contract authority real def 1000 c3) to record the closing of expended authority paid (tc f214) 4902 delivered orders obligations paid 300 4201 total actual resources collected 300 postclosing trial balance: 4126 100 4136 100 4139 700 4201 0 0 4620 400 4801 300 800 800 year 1 fiscal service corpus account (20x8100) proprietary preclosing trial balance (facts i): 1010 300 2150 100 5765 400 400 400 closing entry: c1) to record the closing of other financing sources into cumulative results of operations (tc f228) 3310 cumulative results of operations 400 5765 nonexpenditure financing sources transfersout 400 postclosing trial balance: 1010 300 2150 100 3310 400 400 400 parent account (69x8123) proprietary preclosing trial balance (facts i): 1330 100 5755 400 6100 300 400 400 closing entry: c1) to record the closing of other financing sources and expenses into cumulative results of operations (tc f228) 5755 nonexpenditure financing sources transfersin 400 3310 cumulative results of operations 100 6100 operating expensesprogram costs 300 postclosing trial balance: 1330 100 3310 100 100 100 year 1 fiscal service corpus account (20x8100) sf 133: report on budget execution and budgetary resources na parent account (69x8123) sf 133: report on budget execution and budgetary resources 1 budgetary authority a appropriations (4126eb 4138e) 400 c contract authority (4131e) 1000 6 e other auth wdrawn (4135e 4136eb) (400) 7 total budgetary resources 1000 8 obligations incurred (4801eb 4902e) 600 9 unobligated balance available (4620e) 400 11 total status of budgetary resources 1000 14 c undelivered orders (4801e) 300 15 total outlays (calculation) 300 year 1 fiscal service corpus account (20x8100) ussgl 2108: yearend closing statement col 2 preclosing unexpended balance (300) col 3 cur year ca realized col 4 unobligated and obligated bal withdrawncanceled col 5 postclosing unexpended bal (1010e) (300) col 6 other auth 0 calc (23456) col 7 reimbursements earned col 9 undelivered orders col 10 accounts pay and other liab (4127e) 100 col 11 unobligated bal (4620e) (400) calc (567891011) parent account (69x8123) ussgl 2108: yearend closing statement col 2 preclosing unexpended balance 0 col 3 cur year ca realized (4131e) 1000 col 4 unobligated and obligated bal withdrawncanceled (4135e 4136eb) (400) col 5 postclosing unexpended bal (1010e) 0 col 6 other auth (4131e 4135e 4136e) 600 calc (23456) col 7 reimbursements earned (4126e) 100 col 9 undelivered orders (4801e) 300 col 10 accounts pay and other liab col 11 unobligated bal (4620e) 400 calc (567891011) year 1 fiscal service corpus account (20x8100) program and financing schedule (p f) memorandum entries 9201 total investments start of year 0 9202 total investments end of year 0 parent account (69x8123) program and financing schedule (p f) total new obligations 1000 total new obligations (4801eb 4902e) 600 budgetary resources available for obligation 2149 unobligated balance available start of year: contract authority (not supported by ussgl) 2200 new budget authority (gross) (calc 40006990) 1000 2390 total budgetary resources avail for obligation (calc) 1000 2449 unobligated balance available end of year: contract authority (not supported by ussgl) 2499 total unobligated balance end of year (4620e) 400 new budgetary authority (gross) detail 4026 appropriation (trust fund definite) (4126eb 4138e) 400 4049 portion applied to liquidate contract authority (4135e4136eb)(400) 4100 transferred to other accounts () 4200 transferred from other accounts () 4300 appropriation (total discretionary) (calc) 0 6610 contract authority (definite) (4131e) 1000 6661 transferred to other accounts () 6662 transferred from other accounts () 6690 contract authority (total mandatory) (calc) 1000 7000 total new ba (gross) 1000 (4126eb 4131e 4135e 4136eb 4138e) memorandum entries 7501 obligated balance start of year: ca (not supported by ussgl) 7502 obligated balance end of year: ca (not supported by ussgl) year 1 fiscal service corpus account (20x8100) omb form and content statements na parent account (69x8123) omb form and content statements (consolidated) balance sheet assets 1a1 fund balance with treasury (1010e) 300 liabilities and net position 8 cum results of operations (3310e) 300 statement of net cost 1b1 program costs public production (6100e) 300 1d less earned revenue 0 5 net cost of operations (calc) 300 statement of changes in net position 1 net cost of operations 300 8 net position beginning of period 0 9 net position end of period (calc) 300 year 1 fiscal service corpus account (20x8100) omb form and content statements na parent account (69x8123) omb form and content statements (consolidated) (continued) statement of budgetary resources 1a budg auth approps (4126eb 4127eb 4129e 4138e) 0 1c budg auth contract authority (4131e) 1000 4c5 adjustmentspursuant to pl (4135e 4136eb) (400) 5 total budgetary resources 600 6 obligations incurred (4801eb 4902e) 600 7b unob bal availexempt from apport (4620e) 0 9 total status of resources 600 10 obligations incurred (4801eb 4902e) 600 14c undelivered orders (4801e) 300 15 total outlays (calculation) 300 statement of financing 1a obligations incurred (4801eb 4902e) 600 2a chg in amt of goodsservices (incr)decr (4801eb)(300) 5 net cost of operations (calc) 300 year 2 fiscal service corpus account (20x8100) parent account (69x8123) 1 parent account requests nonexpenditure transfer of funds from the liquidating appropriation that was received in year 1 funds are transferred from the corpus account to the parent account this is accomplished via sf 1151 (tc a274) budgetary 4127 amts appropriated from specific treasurymgd tf tafs payable 60 4129 amts appropriated from specific treasurymgd tf tafs transfersout 60 proprietary 2150 payable for trans of curr inv bal 60 1010 fund balance with treasury 60 1 parent account requests nonexpenditure transfer of funds from the liquidating appropriation that was received in year 1 funds are transferred from the corpus account to the parent account this is accomplished via sf 1151 (tc a175) budgetary 4136 ca to be liquidated by tf 60 4126 amts appropriated fr specific treasury managed tf tafs receivable 60 and 4138 appropriations to liquidate ca 60 4135 contract authority liquidated 60 proprietary 1010 fund balance with treasury 60 1330 receiv for trans of curr inv bal 60 year 2 fiscal service corpus account (20x8100) parent account (69x8123) budgetary preclosing trial balance (facts ii atb): 4127 40 4129 60 4201 300 4620 400 400 400 closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4129 amounts appropriated from specific treasurymanaged trust fund tafs transfersout 60 4201 total actual resources collected 60 budgetary preclosing trial balance (facts ii atb): 4126 40 4135 60 4136 40 4138 60 4139 700 4620 400 4801 300 800 800 closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 60 4138 appropriations to liquidate ca 60 c2) to record the closing of fiscal year contract authority (tc f206) 4135 contract authority liquidated 60 4139 ca carried forward 60 year 2 fiscal service corpus account (20x8100) postclosing trial balance: 4127 40 parent account (69x8123) postclosing trial balance: year 2 fiscal service corpus account (20x8100) proprietary preclosing trial balance (facts i): closing entry: na postclosing trial balance: 1010 360 2150 40 3310 400 400 400 parent account (69x8123) proprietary preclosing trial balance (facts i): 1010 60 1330 40 3310 100 100 100 closing entry: na postclosing trial balance: 1010 60 1330 40 3310 100 100 100 year 2 fiscal service corpus account (20x8100) sf 133: report on budget execution and budgetary resources na parent account (69x8123) sf 133: report on budget execution and budgetary resources 1 budgetary authority a appropriations (4126eb 4138e) 0 2a unob bal brought fwd (4126b 4136b 4139b 4201b 4801b) 400 6e other authority wdrawn (4135e 4136eb) 0 7 total budgetary resources 400 8 obligations incurred (4801eb) 0 9 unobligated balance available (4620e) 400 11 total status of budgetary resources 400 12 obligated balance net as of oct 1 (4801b) 300 14c 14c undelivered orders (4801e) 300 15 total outlays (calculation) 0 year 2 fiscal service corpus account (20x8100) ussgl 2108: yearend closing statement col 2 preclosing unexpended balance (360) col 3 cur year ca realized col 4 unobligated and obligated bal withdrawncanceled col 5 postclosing unexpended bal (1010e) (360) col 6 other auth 0 calc (23456) col 7 reimbursements earned col 9 undelivered orders col 10 accounts pay and other liab (4127e) 40 col 11 unobligated bal (4620e) (400) calc (567891011) parent account (69x8123) ussgl 2108: yearend closing statement col 2 preclosing unexpended balance (1010e 4136b 4139b) 660 col 3 cur year ca realized (4131e) 0 col 4 unobligated and obligated bal withdrawncanceled (4135e 4136eb) 0 col 5 postclosing unexpended bal (1010e) 60 col 6 other auth (4135e 4136e 4139b) 600 calc (23456) col 7 reimbursements earned (4126e) 40 col 9 undelivered orders (4801e) 300 col 10 accounts pay and other liab col 11 unobligated bal (4620e) 400 calc (567891011) year 2 fiscal service corpus account (20x8100) program and financing schedule (p f) memorandum entries 9201 total investments start of year 0 9202 total investments end of year 0 parent account (69x8123) program and financing schedule (p f) total new obligations 1000 total new obligations (4801eb) 0 budgetary resources available for obligation 2150 unobligated balance available start of year: contract authority (not supported by ussgl) 2200 new budget authority (gross) (calc 40006990) 0 2391 total budgetary resources avail for obligation (calc) 0 2450 unobligated balance available end of year: contract authority (not supported by ussgl) 2499 total unobligated balance end of year (4620e) 400 new budgetary authority (gross) detail 4026 appropriation (trust fund definite) (4126eb 4138e) 0 4049 portion applied to liquidate contract authority (4135e4136eb) 0 4100 transferred to other accounts () 4200 transferred from other accounts () 4300 appropriation (total discretionary) (calc) 0 6610 contract authority (definite) 6661 transferred to other accounts () 6662 transferred from other accounts () 6690 contract authority (total mandatory) (calc) 7000 total new ba (gross) (4126eb 4135e 4136eb 4138e) 0 memorandum entries 7501 obligated balance start of year: ca (not supported by ussgl) 7502 obligated balance end of year: ca (not supported by ussgl) year 2 fiscal service corpus account (20x8100) omb form and content statements na parent account (69x8123) omb form and content statements (consolidated) balance sheet assets 1a1 fund balance with treasury (1010e) (300) liabilities and net position 8 cum results of operations (3310e) (300) statement of net cost 1b1 program costs public production (6100e) 0 1d less earned revenue 0 5 net cost of operations (calc) 0 statement of changes in net position 1 net cost of operations 0 8 net position beginning of period (3310b) (300) 9 net position end of period (calc) (300) year 2 fiscal service corpus account (20x8100) omb form and content statements na parent account (69x8123) omb form and content statements (consolidated) (continued) statement of budgetary resources 1a budg auth approps (4126eb 4127eb 4129e 4138e) 0 1c budg auth contract authority 2a unobligated bal brought forward (4126b 4127b 4136b4139b 4201b 4801b) 0 4c5 adjustmentspursuant to pl (4135e 4136eb) 0 5 total budgetary resources 0 6 obligations incurred (4801eb) 0 7b unob bal availexempt from apport (4620e) 0 9 total status of resources 0 12 obligated bal net beg of pd (4801b) 300 14c undelivered orders (4801e) 300 15 total outlays (calculation) 0 statement of financing 1a obligations incurred (4801eb) 0 2a chg in amt of goodsservices (incr)decr (4801eb) (0) 5 net cost of operations (calc) 0 scenario viii illustrates accounting and reporting for the transfer of contract authority between two trust funds for a detailed description and background related to contract authority and the ussgl accounts involved refer to contract authority scenarios posted on the ussgl web site trust funds with contract authority typically involve at least two reporting entities the first is the tafs managed by fiscal service fiscal service is responsible for recording the collection and investment of receipts for example the fiscal service managed highway trust fund collects earmarked taxes on gasoline and other fuels the second entity is the tafs managed by the federal program agency the agency tafs is the account in which contract authority is granted and program activities are managed for example the federal highway administration of the us department of transportation manages the liquidation of contract authorization trust fund and is responsible for recording the contract authority recording the appropriations to liquidate contract authority as well as tracking obligations and disbursements of the fund note that while the appropriation to liquidate contract authority is granted in appropriation acts the funds will not be transferred via sf 1151 until actually needed for disbursement this is for cash management purposes so that the interest earned in the fiscal service tafs is maximized that concept is illustrated in scenario vii trust funds with contract authority part i: appropriations to liquidate contract authority funded by nonexpenditure transfers and involves established ussgl account 4136 contract authority to be liquidated by trust funds in some instances however the agency entity (referred to in this scenario as the parent account) is also granted the authority to transfer contract authority to recipient tafs (referred to as the recipient account) this is usually in the form of allocation transfers but may also be an appropriationbalance transfer at the time that the contract authority transfers however the funds will not be transferred until actually needed for disbursement again this is in order to maintain sound cash management principles for this reason and in order to support specific pf lines ussgl account 4137 transfers of contract authority was established and is the basis of this scenario year 1 parent account (69x8000) recipient account (1469x8000) 1 to record the enactment of public law for new contract authority (tc a166) budgetary 4131 cy contract authority realized def 1000 4620 unob fds not subj to apport 1000 proprietary na 1 to record the enactment of public law for new contract authority na 2 to record the appropriation to liquidate contract authority funds are not transferred until needed for disbursement (tc a173) budgetary 4126 amounts appropriated from specific treasury managed trust fund tafs receivable 600 4136 ca to be liquidated by tf 600 proprietary 1330 receivable for transfers of currently invested balances 600 5755 nonexpenditure financing sources transfersin 600 2 to record the appropriation to liquidate contract authority funds are not transferred until needed for disbursement na year 1 parent account (69x8000) recipient account (1469x8000) 3 to record transferout of contract authority from the parent account to the recipient account based upon an approved letter (tc a179) budgetary 4620 unob fds not subj to apport 50 4137 transfers of contract authority 50 proprietary 5765 nonexpenditure financing sources transfersout 50 2150 payable for transfers of currently invested balances 50 3 to record transferout of contract authority from the parent account to the recipient account based upon an approved letter (tc a177) budgetary 4137 transfers of contract authority 50 4620 unob fds not subj to apport 50 proprietary 1330 receivable for transfers of currently invested balances 50 5755 nonexpenditure financing sources transfersin 50 year 1 parent account (69x8000) recipient account (1469x8000) 4 recipient account requests transfer of funds to liquidate the contract authority that was transferred in 3 this is accomplished via sf 1151 first an sf 1151 must be processed to move the fund balance from the fiscal service corpus account into the parent account a to record the sf 1151 transferin from the fiscal service corpus account into the parent account (tc a175) budgetary 4136 ca to be liquidated by tf 30 4126 amts appropriated fr specific treasury managed tf tafs receivable 30 and 4138 appropriations to liquidate ca 30 4135 contract authority liquidated 30 proprietary 1010 fund balance with treasury 30 1330 receiv for trans of curr inv bal 30 4 recipient account requests transfer of funds to liquidate the contract authority that was transferred in 3 this is accomplished via sf 1151 first an sf 1151 must be processed to move the fund balance from the fiscal service corpus account into the parent account a to record the sf 1151 transferin from the fiscal service corpus account into the parent account na year 1 parent account (69x8000) recipient account (1469x8000) b to record the immediate sf 1151 transferout to the recipient account in order to liquidate the contract authority previously transferred in 2 (tc a180) budgetary 4137 transfers of contract authority 30 4175 allocation transfers of cy authority for noninvested accounts 30 proprietary 2150 payable for trans of curr inv bal 30 1010 fund balance with treasury 30 b to record the immediate sf 1151 transferin to the recipient account in order to liquidate the contract authority previously transferred in 2 (tc a181) budgetary 4175 allocation transfers of cy authority for non invested accounts 30 4137 transfers of contract authority 30 proprietary 1010 fund balance with treasury 30 1330 receivable for transfers of currently invested balances 30 year 1 parent account (69x8000) recipient account (1469x8000) budgetary preclosing trial balance (facts ii atb): 4126 570 4131 1000 4135 30 4136 570 4137 20 4138 30 4175 30 4620 950 1600 1600 closing entries c1) to record the consolidation of actual netfunded resources (tc f204) 4175 alloc transfers of cy authority for non invested accounts 30 4138 appropriations to liquidate ca 30 c2) to record the closing of fiscal year contract authority (tc f206) 4135 contract authority liquidated 30 4139 ca carried forward 970 4131 cy contract authority real def 1000 budgetary preclosing trial balance (facts ii atb): 4137 20 4175 30 4620 50 50 50 closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 30 4175 alloc transfers of cy authority for noninvested accounts 30 year 1 parent account (69x8000) postclosing trial balance: 4126 570 4136 570 4137 20 4139 970 4620 950 1540 1540 recipient account (1469x8000) postclosing trial balance: 4137 20 4201 30 4620 50 50 50 year 1 parent account (69x8000) proprietary preclosing trial balance (facts i): 1330 570 2150 20 5755 600 5765 50 620 620 closing entry: c1) to record the closing of other financing sources into cumulative results of operations (tc f228) 5755 nonexpenditure financing sources transfersin 600 3310 cumulative results of operations 550 5765 nonexpenditure financing sources transfersout 50 postclosing trial balance: 1330 570 2150 20 3310 550 570 570 recipient account (1469x8000) proprietary preclosing trial balance (facts i): 1010 30 1330 20 5755 50 50 50 closing entry: c1) to record the closing of other financing sources into cumulative results of operations (tc f228) 5755 nonexpenditure financing sources transfersin 50 3310 cumulative results of operations 50 postclosing trial balance: 1010 30 1330 20 3310 50 50 50 year 1 parent account (69x8000) sf 133: report on budget execution and budgetary resources 1 budgetary authority a appropriations (4126eb 4138e) 600 c contract authority (4131e) 1000 d net transfers (4137eb 4175e) (50) 6 permanently not available e other authwdrawn (4135e 4136eb) (600) 7 total budgetary resources 950 8 obligations incurred 9 unobligated balance available (4620e) 950 11 total status of budgetary resources 950 15 total outlays (calculation) 0 recipient account (1469x8000) sf 133: report on budget execution and budgetary resources 1 budgetary authority a appropriations c contract authority d net transfers (4137eb 4175e) 50 7 total budgetary resources 50 8 obligations incurred 9 unobligated balance available (4620e) 50 11 total status of budgetary resources 50 15 total outlays (calculation) 0 year 1 parent account (69x8000) ussgl 2108: yearend closing statement col 2 preclosing unexpended balance 0 col 3 cur year ca realized (4131e) 1000 col 4 unobligated and obligated bal withdrawncanceled (4135e 4136eb) (600) col 5 postclosing unexpended bal (1010e) 0 col 6 other auth (4131e 4135e 4136e 4139b) 400 calc (23456) col 7 reimbursements earned (4126e 4137e) 550 col 9 undelivered orders col 10 accounts payable and other liabilities col 11 unobligated balance (4620e) 950 calc (567891011) recipient account (1469x8000) ussgl 2108: yearend closing statement col 2 preclosing unexpended balance 30 col 3 cur year ca realized (4131e) 0 col 4 unobligated and obligated bal withdrawncanceled (4135e) 0 col 5 postclosing unexpended bal (1010e) 30 col 6 other auth (4131e 4135e 4139b) 0 calc (23456) col 7 reimbursements earned (4137e) 20 col 9 undelivered orders col 10 accounts payable and other liabilities col 11 unobligated balance (4620e) 50 calc (567891011) year 1 program and financing schedule (p f) (parentrecipient accounts consolidated) total new obligations 1000 total new obligations 0 budgetary resources available for obligation 2149 unobligated balance available start of year: contract authority (not supported by ussgl) 2200 new budget authority (gross) (calc 40006990) 1000 2390 total budgetary resources avail for obligation (calc) 1000 2449 unobligated balance available end of year: contract authority (not supported by ussgl) 2499 total unobligated balance end of year (4620e) 1000 new budgetary authority (gross) detail 4026 appropriation (trust fund definite) (4126eb 4138e) 600 4049 portion applied to liquidate contract authority (4135e4136eb) (600) 4100 transferred to other accounts () (4175e) (30) 4200 transferred from other accounts () (4175e) 30 4300 appropriation (total discretionary) (calc) 0 6610 contract authority (definite) (4131e) 1000 6661 transferred to other accounts () (4137eb) (20) 6662 transferred from other accounts () (4137eb) 20 6690 contract authority (total mandatory) (calc) 1000 7000total new ba (gross) (4126eb 4131e 4135e 4136eb 4137eb 4138e 4175e) 1000 memorandum entries 7501 obligated balance start of year: ca (not supported by ussgl) 7502 obligated balance end of year: ca (not supported by ussgl) year 1 omb form and content statements (parentrecipient accounts consolidated) balance sheet assets 1a1 fund balance with treasury (1010e) 30 1a2 accounts receivable (1330e) 590 liabilities and net position 3a1 accounts payable (2150e) 20 8 cum results of operations (3310e) 600 statement of net cost 1b1 program costs public production (6100e) 0 1d less earned revenue 0 5 net cost of operations (calc) 0 statement of changes in net position 1 net cost of operations 0 2e financing sourcestransfersin (5755e) 650 2f financing sourcestransfersout (5765e) (50) 8 net position beginning of period 0 9 net position end of period (calc) 600 year 1 omb form and content statements (parentrecipient accounts consolidated) (continued) statement of budgetary resources 1a budg auth approps (4126eb 4138e) 600 1c budg auth contract authority (4131e) 1000 1d budg auth net transfers (4137eb 4175eb) 0 4c5 adjustmentspursuant to pl (4135e 4136eb) (600) 5 total budgetary resources 1000 7b unob bal availexempt from apport (4620e) 1000 9 total status of resources 1000 15 total outlays (calculation) 0 statement of financing 1a obligations incurred 0 2a chg in amt of goodsservices (incr)decr (0) 5 net cost of operations (calc) 0 year 2 parent account (69x8000) recipient account (1469x8000) 1 recipient account requests transfer of funds to liquidate the contract authority that was originally transferred in year 1 this is accomplished via sf 1151 first an sf 1151 must be processed to move the fund balance from the fiscal service corpus account into the parent account a to record the sf 1151 transferin from the fiscal service corpus account into the parent account (tc a175) budgetary 4136 ca to be liquidated by tf 15 4126 amts appropriated fr specific treasury managed tf tafs receivable 15 and 4138 appropriations to liquidate ca 15 4135 contract authority liquidated 15 proprietary 1010 fund balance with treasury 15 1330 receiv for trans of curr inv bal 15 1 recipient account requests transfer of funds to liquidate the contract authority that was originally transferred in year 1 this is accomplished via sf 1151 first an sf 1151 must be processed to move the fund balance from the fiscal service corpus account into the parent account a to record the sf 1151 transferin from the fiscal service corpus account into the parent account na year 2 parent account (69x8000) recipient account (1469x8000) b to record the immediate sf 1151 transferout to the recipient account in order to liquidate the contract authority originally transferred in year 1 (tc a180) budgetary 4137 transfers of contract authority 15 4175 allocation transfers of cy authority for noninvested accounts 15 proprietary 2150 payable for trans of curr inv bal 15 1010 fund balance with treasury 15 b to record the immediate sf 1151 transferin to the recipient account in order to liquidate the contract authority originally transferred in year 1 (tc a181) budgetary 4175 allocation transfers of cy authority for non invested accounts 15 4137 transfers of contract authority 15 proprietary 1010 fund balance with treasury 15 1330 receivable for transfers of currently invested balances 15 year 2 parent account (69x8000) recipient account (1469x8000) 2 recipient account records obligation expenditure and disbursement of funds to nonfederal recipients na 2 recipient account records obligation expenditure and disbursement of funds to nonfederal recipients (tc b107) budgetary 4620 unob fds not subj to apportionment 15 4902 delivered orders obligations paid 15 proprietary 6100 operating expensesprogram costs 15 1010 fund balance with treasury 15 year 2 parent account (69x8000) budgetary preclosing trial balance (facts ii atb): 4126 555 4135 15 4136 555 4137 5 4138 15 4139 970 4175 15 4620 950 1540 1540 closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4175 alloc transfers of cy authority for non invested accounts 15 4138 appropriations to liquidate ca 15 c2) to record the closing of fiscal year contract authority (tc f206) 4135 contract authority liquidated 15 4139 ca carried forward 15 recipient account (1469x8000) budgetary preclosing trial balance (facts ii atb): 4137 5 4175 15 4201 30 4620 35 4902 15 50 50 closing entries: c1) to record the consolidation of actual netfunded resources (tc f204) 4201 total actual resources collected 15 4175 alloc transfers of cy authority for noninvested accounts 15 c1) to record the closing of expended authority paid (tc 214) 4902 delivered orders obligations paid 15 4201 total actual resources collected 15 year 2 parent account (69x8000) postclosing trial balance: 4126 555 4136 555 4137 5 4139 955 4620 950 1510 1510 recipient account (1469x8000) postclosing trial balance: 4137 5 4201 30 4620 35 35 35 year 2 parent account (69x8000) proprietary preclosing trial balance (facts i): 1330 555 2150 5 3310 550 555 555 closing entry: na postclosing trial balance: 1330 555 2150 5 3310 550 555 555 recipient account (1469x8000) proprietary preclosing trial balance (facts i): 1010 30 1330 5 3310 50 6100 15 50 50 closing entry: c1) to record the expenses into cumulative results of operations (tc f228) 3310 cumulative results of operations 15 6100 operating expensesprog costs 15 postclosing trial balance: 1010 30 1330 5 3310 35 35 35 year 2 parent account (69x8000) sf 133: report on budget execution and budgetary resources 1 budgetary authority a appropriations (4126eb 4138e) 0 d net transfers (4137eb 4175e) 0 2a unob bal brought fwd (4126b 4136b 4137b 4139b 4201b) 950 6 permanently not available e other authwdrawn (4135e 4136eb) 0 7 total budgetary resources 950 9 unobligated balance available (4620e) 950 11 total status of budgetary resources 950 15 total outlays (calculation) 0 recipient account (1469x8000) sf 133: report on budget execution and budgetary resources 1 budgetary authority d net transfers (4137eb 4175e) 0 2a unob bal brought fwd (4137b 4201b) 50 7 total budgetary resources 50 8 obligations incurred (4902e) 15 9 unobligated balance available (4620e) 35 11 total status of budgetary resources 50 15 total outlays (calculation) 15 year 2 parent account (69x8000) ussgl 2108: yearend closing statement col 2 preclosing unexpended balance (4136b 4139b) 400 col 3 cur year ca realized col 4 unobligated and obligated bal withdrawncanceled (4135e 4136eb) 0 col 5 postclosing unexpended bal (1010e) 0 col 6 other auth (4135e 4136e 4139b) 400 calc (23456) col 7 reimbursements earned (4126e 4137e) 550 col 10 accounts payable and other liabilities col 11 unobligated balance (4620e) 950 calc (567891011) recipient account (1469x8000) ussgl 2108: yearend closing statement col 2 preclosing unexpended balance 30 col 3 cur year ca realized col 4 unobligated and obligated bal withdrawncanceled col 5 postclosing unexpended bal (1010e) 30 col 6 other auth calc (23456) col 7 reimbursements earned (4137e) 5 col 10 accounts payable and other liabilities col 11 unobligated balance (4620e) 35 calc (567891011) year 2 program and financing schedule (p f) (parentrecipient accounts consolidated) total new obligations 1000 total new obligations (4902e) 15 budgetary resources available for obligation 2150 unobligated balance available start of year: contract authority (not supported by ussgl) 2200 new budget authority (gross) (calc 40006990) 0 2391 total budgetary resources avail for obligation (calc) 0 2450 unobligated balance available end of year: contract authority (not supported by ussgl) 2499 total unobligated balance end of year (4620e) 985 new budgetary authority (gross) detail 4026 appropriation (trust fund definite) (4126eb 4138e) 0 4049 portion applied to liquidate contract authority (4135e4136eb) 0 4100 transferred to other accounts () (4175e) (15) 4200 transferred from other accounts () (4175e) 15 4300 appropriation (total discretionary) (calc) 0 6610 contract authority (definite) 6661 transferred to other accounts () (4137eb) (15) 6662 transferred from other accounts () (4137eb) 15 6690 contract authority (total mandatory) (calc) 0 7001total new ba (gross) (4126eb 4135e 4136eb 4137eb 4138e 4175e) 0 memorandum entries 7501 obligated balance start of year: ca (not supported by ussgl) 7502 obligated balance end of year: ca (not supported by ussgl) year 2 omb form and content statements (parentrecipient accounts consolidated) balance sheet assets 1a1 fund balance with treasury (1010e) 30 1a2 accounts receivable (1330e) 560 liabilities and net position 3a1 accounts payable (2150e) 5 8 cum results of operations (3310e) 585 statement of net cost 1b1 program costs public production (6100e) 15 1d less earned revenue 0 5 net cost of operations (calc) 15 statement of changes in net position 1 net cost of operations 15 8 net position beginning of period (3310b) (600) 9 net position end of period (calc) 585 year 2 omb form and content statements (parentrecipient accounts consolidated) (continued) statement of budgetary resources 1a budg auth approps (4126eb 4138e) 0 1c budg auth contract authority 0 1d budg auth net transfers (4137eb 4175eb) 0 2a unobligated balance brought forward (4126b 4136b 4137b 4139b 4201b) 1000 4c5 adjustmentspursuant to pl (4135e 4136eb) ( 0) 5 total budgetary resources 1000 6 obligations incurred (4902e) 15 7b unob bal availexempt from apport (4620e) 985 9 total status of resources 1000 10 obligations incurred (4902e) 15 15 total outlays (calculation) 15 statement of financing 1a obligations incurred (4902e) 15 2a chg in amt of goodsservices (incr)decr (0) 5 net cost of operations (calc) 15