# Presentation: 115026

## U.S. Treasury Zero Coupon Bonds (ZCB)	

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)	

- The amortization of discounts and market adjustments for ZCB are counted as a budgetary resource _***but***_ they are unavailable for/precluded from obligation.
- Two Treasury Appropriation Fund Symbols (TAFS) are currently holding ZCB.
- 1 Special Fund
- 1 Trust Revolving Fund

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)

***Special and Non-Revolving Trust Funds***
- The same budgetary accounts are used to record amortization and market adj. for a ZCB
- 4114 Appropriated Trust or Special Fund 	                  	   Receipts
- 		4394 Receipts Unavailable for Obligation Upon 	         Collection

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)

***Special and Non-Revolving Trust Funds***
- Entry to record _amortization_ of a discount on a ZCB
- 	4114 Appropriated Trust or Special Fund Receipts
- 		4394 Receipts Unavailable for Obligation Upon 	         	         	Collection
- 1633 Amortization of Discount U.S. Zero Coupon Bonds Issued by 	  Public Debt
- 		5311 Interest Revenue - Investments

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)

***Special and Non-Revolving Trust Funds***
- Entry to record _market adjustment_ on a ZCB
- 	4114 Appropriated Trust or Special Fund Receipts
- 		4394 Receipts Unavailable for Obligation Upon Collection
- 1638 Market Adjustment – Investments in U.S. Treasury Zero	                       	  Coupon Bonds
- 		1639 Contra Market Adjustment – Investments in U.S. 		          Treasury Zero Coupon Bonds

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)

***Trust Revolving Funds***
- Proposed Budgetary USSGL account to record amortization and market adj.
**Account Title: **Amortization and Market Adjustment - Investments in U.S. Treasury Zero Coupon Bonds
**Account Number:  **4290
**Normal Balance:    **Debit

- USSGL Board Meeting 4/26/2007

**Notes:**
Definition:  The amount of amortized discount, unrealized gains and losses (for market adjustments), and realized gains and losses in Treasury Appropriation Fund Symbols that invest offsetting collections in U.S. Treasury Zero Coupon Bonds.

## U.S. Treasury Zero Coupon Bonds (ZCB)

***Trust Revolving Funds***
- The same budgetary accounts are used to record amortization and market adj. for a ZCB
- 4290 Amortization and Market Adjustment –Investments in
-          U.S. Treasury Zero Coupon Bonds
- 		4398 Offsetting Collections Temporarily 		Precluded From Obligation

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)

***Trust Revolving Funds***
- Entry to record _amortization_ of a discount on a ZCB
- 	4290 Amortization and Market Adjustment –              	    	   	 Investments in U.S. Treasury Zero Coupon Bonds
- 		4398 Offsetting Collections Temporarily Precluded From 	      	         Obligation
- 1633 Amortization of Discount U.S. Zero Coupon Bonds Issued by 	  Public Debt
- 		5311 Interest Revenue - Investments

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)

***Trust Revolving Funds***
- Entry to record _market adjustment_ on a ZCB
- 	 4290 Amortization and Market Adjustment – Investments in U.S. 	           	 Treasury Zero Coupon Bonds
- 		4398 Offsetting Collections Temporarily Precluded From 	 	         Obligation
- 1638 Market Adjustment – Investments in U.S. Treasury Zero Coupon 	Bonds
- 		1639 Contra Market Adjustment – Investments in U.S. Treasury 	Zero Coupon Bonds

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)

***Crosswalk Impacts of USSGL 4290:***
*SF 133 Report on Budget Execution and Budgetary Resources:*
- Line 3D1A Spending authority from offsetting collections, Earned, Collected
- Budget Program and Financing (P&F) Schedule
- Line 5800 Spending authority from offsetting collections
- Line 8820 Interest on Federal securities

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)

***Other Crosswalk Impacts:***
- FMS 2108 Yearend Closing Statement
- Column 6 For Treasury Appropriation Fund Symbols With Unamortized Discounts or Premiums (USSGL **1633** with RT7 931)

- USSGL Board Meeting 4/26/2007

## U.S. Treasury Zero Coupon Bonds (ZCB)

- USSGL Board Meeting 4/26/2007

## Partial and Early Cancellation of Authority

- USSGL Board Meeting 4/26/2007

## Partial and Early Cancellation of Authority

***Justification for new account:***
*	*To separate appropriation authority that is canceled early, from appropriation authority canceled 5 years after the expiration of an annual or multiyear appropriation.

- USSGL Board Meeting 4/26/2007

## Partial and Early Cancellation of Authority

- Proposed Budgetary USSGL account:
**Account Title**:  Partial or Early Cancellation of Authority With a U.S. Treasury Warrant
**Account Number**:  4351
**Normal Balance**:   Credit

- USSGL Board Meeting 4/26/2007

**Notes:**
Definition:  The amount of annual, multi-year, or no-year appropriation authority that is canceled early by administrative action in a definite account or by early cancellation of the entire appropriation. The cancellation will be accomplished with a U.S. Treasury warrant. 

## Partial and Early Cancellation of Authority

- USSGL 4351 is reclassified to 8101 in a closing entry.
- 4351 Partial or Early Cancellation of Authority With a U.S. Treasury Warrant
- 		4201 Total Actual Resources – Collected
- 8102 Offset for Partial or Early Cancellation of Authority
- 		8101 Partial or Early Cancellation of Authority

- USSGL Board Meeting 4/26/2007

## Partial and Early Cancellation of Authority

***Crosswalk Impacts of USSGL 4351:***
- SF 133 Report on Budget Execution and Budgetary Resources Line:
-  Line 6A Permanently not available: Cancellations of expired and no-year accounts
- FMS 2108 Yearend Closing Statement
- Will _***not***_ crosswalk because a U.S. Treasury warrant is processed

- USSGL Board Meeting 4/26/2007

## Partial and Early Cancellation of Authority

***Crosswalk Impacts of  USSGL 4351(cont’d):***
- Budget Program and Financing (P&F) Schedule
- Line 2398 Unobligated balance expiring or withdrawn

- USSGL Board Meeting 4/26/2007

## Partial and Early Cancellation of Authority

***Revisions to current USSGL accounts:***
**Account Title**:	 Canceled Authority
**Account Number**: 4350
**Normal Balance**:	 Credit

- USSGL Board Meeting 4/26/2007

**Notes:**
Removed:
References to partial authority cancellation 
Added:
This is part of the yearend process and does not involve a U.S. Treasury warrant. 

## Partial and Early Cancellation of Authority

***Revisions to current USSGL accounts:***
**Current Account Title:  **Partial Authority Cancellation
**Proposed Account Title: **Partial or Early Cancellation of Authority
**Account Number:****	**8101
**Normal Balance:****	**Credit

- USSGL Board Meeting 4/26/2007

**Notes:**
Reference to 4350 was removed and replaced with 4351.

## Partial and Early Cancellation of Authority

***Revisions to current USSGL accounts:***
**Current Account Title:    **Offset for Partial Authority Cancellation
**Proposed Account Title:  **Offset for Partial or Early Cancellation of Authority
**Account Number:**	8102
**Normal Balance:**	Debit

- USSGL Board Meeting 4/26/2007

**Notes:**
Definition was revised to reflect USSGLs 8101 proposed title.

## Partial and Early Cancellation of Authority

**Contact Info:**
- Michele Crisman
- _[michele.crisman@fms.treas.gov](mailto:michele.crisman@fms.treas.gov)_
- 202-874-2439

- USSGL Board Meeting 4/26/2007

## Capitalized Loan Interest

- New USSGL Accounts
- (Effective Fiscal 2008)
- 1351  Capitalized Loan Interest Receivable – Non-Credit Reform
- 2511  Capitalized Loan Interest Payable – Non-Credit Reform

- USSGL Board Meeting 4/26/2007

## USSGL Crosswalk Impact
Balance Sheet
Assets, Intragovernmental
Line 4: Loans Receivable (1351E)
Line 3.5 (Reclassified BS)

Liabilities, Intragovernmental
Line 18: Debt (2511E)
Line 7.4 (Reclassified BS)

- Balance Sheet
- Assets, Intragovernmental
- Line 4: Loans Receivable (1351E)
- Line 3.5 (Reclassified BS)
- Liabilities, Intragovernmental
- Line 18: Debt (2511E)
- Line 7.4 (Reclassified BS)

- Capitalized Loan Interest

- USSGL Board Meeting 4/26/2007

## Capitalized Loan Interest

- Modified USSGL Accounts
- 7112  Gains on Disposition of Borrowings
- 7212  Losses on Disposition of Borrowings
- _Justification_: Expanded to include other than FFB gains/losses

- USSGL Board Meeting 4/26/2007

## Miscellaneous Ballot Items

- Modified USSGL Accounts
- 4510  Apportionments
- 4610  Allotments – Realized Resources
- _Justification_: References to Apportionment Categories not needed

- USSGL Board Meeting 4/26/2007