# Presentation: 917690

## FedLINK Member Meeting

- Fiscal Operations Report
- November 9, 2005

## Financial Results

## Total Earned Revenue Comparison

## Estimated Revenue and Expenditures	

**FY2005 Year End**

## Analysis of Operating Reserves

## Transfer Service Accounts and Dollars By Type per Signed

## Direct Service Accounts and Dollars By Type per Signed

**Direct Service Accounts and Dollars By Type per Signed**

## Estimated Cumulative Direct Express Vendor Billings

## FY 2005 Close and FY 2006 Start-up

- Closed out FY 2000 Vendor Obligations and completed refunds to customer agencies of remaining balances.
- Completed year-end customer transactions for amending and establishing FY 2005 Agreements.
- Completed Library of Congress audit reviews and management reporting regarding program performance.  Significant items addressed:
- FedLINK FMS (SYMIN) replacement system
- Faxon Bankruptcy/Customer Claims
- LC Momentum Start-up and Security Issues

## Implemented revised Direct Express procedures to strengthen communication and control.   
Opened on-line registration for FY 2005 IAG Services in mid September. 
Processed 55,962 vendor invoices - - issued 86,919 customer statements.  Interest payments net of discounts is a $20K credit. 
Continued to support vendor efforts to demonstrate product/services to FedLINK customers.

- Opened on-line registration for FY 2005 IAG Services in mid September.
- Processed 55,962 vendor invoices - - issued 86,919 customer statements.  Interest payments net of discounts is a $20K credit.
- Continued to support vendor efforts to demonstrate product/services to FedLINK customers.

## LC & FedLINK FMS  Status

- LC Momentum FMS
- Significant progress made in resolving post implementation challenges.
- FY 2005 Close is underway - - no show stopper issues.
- Resolving problems related to processing FedLINK payments.
- FedLINK Momentum Cancellation
- Sunk $437K.
- Recovered/saved $323K.
- Avoided $1,327K - $2047K added cost.
- Developing plans with ITS to replace SYMIN with SYMIN II (windows based data base software).

## Customer Actions Currently Underway 

- Online IAG Amendments.
- Internal/external testing underway.
- Expect to open for customers by month end.
- Faxon Bankruptcy claims settlement agreement.
- Booked the loss.
- Depositing funds in customer accounts for replacement serials vendor(s) in the year the loss was incurred.
- FNO will work closely with customers to execute reprocurement of services.

## Appropriate Uses of FAXON Refunds 

- For replacement of calendar year 2003 subscription not received through publisher gracing.
- For replacement of items not ordered in other FY 2002 or 2003 customer service accounts where the customer utilized money from these other accounts to pay new serials vendors for non-graced subscriptions.  ***(Work with FNO to ascertain  bona fide need to move funds for reprocurment)***
- For payment of content purchases by customers in to purchases by customers in order to provide coverage of subscriptions lost as a result of the FAXON default. ***(Work with FNO to ascertain  bona fide need to move funds for reprocurment)***

## Fiscal Points of Contact

- Joe Banks – Business Manager
- Phone: 202.707.4950
- Email: jban@loc.gov

- Ruby Thomas – Manager, Member Services/ Accts Rcv
- Phone: 202.707.4920
- Email: rtho@loc.gov
- FedLINK Hotline
- Phone:202.707.4900
- Email: fliccffo@loc.gov