**Fiduciary Fund Reporting Requirements to FMS:**

-   Report fiduciary fund Treasury Account Symbols (TAS) to FMS.

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-   The requirements to prepare a Statement of Transaction did not
    change as a result of SFFAS 31. All Treasury Fund Symbols need to
    submit Statement of Transactions regardless of whether TAS is
    fiduciary or not. Therefore, if agencies prepare Statement of
    Transactions then they are required to submit a trial balance to FMS
    for verification of their data to the data from Government Wide
    Accounting (GWA) system.

Trial balance submission to FMS:

+-----------------------------------------------------------------------+
| **Proposed Option**                                                   |
+-----------------------------------------------------------------------+
| Submit a post closing trial balance. The balance of proposed          |
| Fiduciary Net Asset account will tie to the Fiduciary Net Assets      |
| reported on the fiduciary note.                                       |
+-----------------------------------------------------------------------+
| **[Illustrative Trial balance]{.underline}**                          |
|                                                                       |
| 1010 Fund balance with Treasury                                       |
|                                                                       |
| 1195 Other Monetary Assets                                            |
|                                                                       |
| 1610 Investment in Treasury securities -- BPD                         |
|                                                                       |
| 1611 Discount                                                         |
|                                                                       |
| 1612 Premium                                                          |
|                                                                       |
| 1613 Amortization                                                     |
|                                                                       |
| 1620 Investment in securities other than BPD Securities               |
|                                                                       |
| 1621 Discount                                                         |
|                                                                       |
| 1622 Premium                                                          |
|                                                                       |
| 1623 Amortization                                                     |
|                                                                       |
| 1730 Buildings                                                        |
|                                                                       |
| 1750 Equipment                                                        |
|                                                                       |
| 2XXX Liabilities                                                      |
|                                                                       |
| **3400 Fiduciary Net Assets (If agencies have inflows and outflows,   |
| they will be closed into this account)**                              |
|                                                                       |
| Note: Agencies can prepare their fiduciary note from a pre-closing    |
| trial balance. Once the inflows and outflows are closed into          |
| Fiduciary Net Assets, they can submit a post closing trial balance to |
| FMS.                                                                  |
+-----------------------------------------------------------------------+

# **Proposed New Accounts for Fiduciary Activity**

**Account Title**: Fiduciary Net Assets

**Account Number**: 3400

**Normal Balance**: Credit

**Definition**: The value of beneficiaries' equity. This USSGL account
does not crosswalk to the Federal entity's financial statements, but it
should be included in the Federal entity's notes to the financial
statements (see SFFAS No. 31, paragraphs 17-24).

***Justification:*** For implementation of SFFAS No. 31

Proposed Changes to USSGL account

**Account Title**: Liability for **Nonfiduciary** Deposit Funds,
Clearing Accounts, and Undeposited Collections

**Account Number**: 2400

**Normal Balance**: Credit

**Definition**: Amounts offsetting undeposited collections and
collections deposited in **nonfiduciary** deposit funds and clearing
accounts, including suspense accounts, awaiting disposition or
reclassification.

***Justification:*** For implementation of SFFAS No. 31