**Economy Act Scenario 1**

**Performing Entity Reimbursable Operations**

**Ordering and Performing Agencies Both Have Annual TAFS**

This scenario portrays reimbursable Economy Act transactions in which the ordering agency and performing agency both have annual TAFs.   Transactions highlight the following points.

· Reimbursable operations under the Economy Act between two annual TAFS

· Budget authority provided through offsetting collections

· Performing activity receives orders with and without advances 

· Availability of funds as applied to reimbursable agreements between ordering and performing entities

· Adjusting entry to write an unfilled customer order from a federal source down to obligations against the order due to an expiring appropriation of the ordering entity, in accordance with the Economy Act

Performing fund activity is shown in all transactions and in the accompanying reports and financial statements.  Ordering fund transactions are shown only when applicable to the fund’s activities with the performing fund.  Therefore, no reports or financial statements are displayed for the ordering fund.  Also, it is presumed that the ordering fund uses general fund appropriations.

### PRE-CLOSING ADJUSTING ENTRIES

**Performing Fund**

**PRE-CLOSING ADJUSTED TRIAL BALANCE**

**CLOSING ENTRIES**

**Performing Fund**

**POST-CLOSING ADJUSTED TRIAL BALANCE**

###### Performing Fund

###### USSGL 2108 Year-end Closing Statement

As of September 30, 20xx

Col. 2 Preclosing Unexpended Balance – Treasury Supplied

Col. 3 N/A

Col. 4 Unobligated and Obligated Balance Withdrawn/Canceled

Col. 5 Post Closing Unexpended Balance(1010E)20,000

Col. 6 TAFS with Imprest Fund

Col. 7 Reimbursements Earned and Refund 

Col. 8 Unfilled Customer Orders

Col. 9 Undelivered Orders and Contracts

Col.10 Accounts Payable and Other Liabilities

Col. 11 CALC (5+6+7+8-9-10) (4610E)20,000

**Performing Fund**

**BALANCE SHEET**

As of September 30, 20xx

Assets:****

 Intragovernmental:

1. Fund Balance With Treasury (1010E)20,000

2. Investments

3. Accounts Receivable4. Loans Receivable

5. Other

6.  Total Intragovernmental20,000

7.  Cash, foreign currency and other monetary assets

8.  Investments

9.  Accounts Receivable 

10. Taxes Receivable

11. Loans Receivable and related foreclosed property

12. Inventory and related property

13. General property, plant and equipment (1750E, 1759E)40,000

14. Other

15. Total Assets60,000

**Performing Fund**

**BALANCE SHEET**

As of September 30, 20xx

Liabilities:

Intragovernmental

16. Accounts Payable 

17. Debt

18. Other 

19. Total intragovernmental

20. Accounts Payable 

21. Loan guarantee liability

22. Debt held by the public

23. Federal employee and veteran's benefits

24. Environmental and disposal liabilities

25. Benefits due and payable

26. Other 

27. Total liabilities        0

28. Commitments and contingencies

Net Position:

29. Unexpended Appropriations

30. Cumulative Results of Operations (3310E)60,000

31. Total net position60,000

8.  Total Liabilities and Net Position60,000

**Performing Fund**

**CONSOLIDATED STATEMENT OF NET COST**

For the year ended September 30, 20xx

Program Costs

Program A

Intragovernmental Gross Costs

1. Intragovernmental (6100E)120,000 

2. Less Intragovernmental Earned Revenues (5200E) 40,000

3. Intragovernmental Net Costs   (calc) 80,000

Gross Costs with the Public

4. With the Public (6710E) 10,000       

5. Less:  Earned Revenues            

6. Net Costs with the Public 10,000

7. Total Net Costs (calc)       90,000

8. Costs Not Assigned to Programs

9. Less:  Earned Revenues Not Attributed to Programs

            10. Net Cost of Operations 90,000

**Performing Fund**

##### CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

###### For the year ended September 30, 20xx

Cumulative ResultsUnexpended

Of Operations             Appropriations      

1. Beginning Balances 00

2. Prior period adjustments

3. Beginning balances, as adjusted00

Budgetary Financing Sources:

4. Appropriations received (3101)  150,000

5. Appropriations transferred-in/out       

6. Other adjustments (rescissions, etc)

7. Appropriations used (5700) (3107)   150,000(150,000)

8. Non-exchange revenue

9. Donations and forfeitures of cash

      and cash equivalents

10. Transfers-in/out w/o reimbursement

11. Other budgetary financing sources

Other Financing Sources:

12. Donations and forfeitures of property     

13. Transfers-in/out w/o reimbursement     

14. Imputed financing from costs absorbed by others

15. Other    ______

16. Total Financing Sources  150,0000   

17. Net Cost of Operations    90,000

18. Ending Balances      60,000 0

**PERFORMING FUND**

**SF 133 REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES/SBR:  STATEMENT OF BUDGETARY RESOURCES**

For the year ended, September 30, 20xx

****BudgetaryNonbudgetary

Financing Accounts

Budgetary Resources:

1. Budget authority 

1a. Appropriations received  (4119E)150,000

1b. Borrowing authority

1c. Contract authority

1d. Net transfers 

1e. Other 

2. Unobligated balance

2a. Beginning of period

2b. Net transfers, actual 

3. Spending authority from offsetting collections

3a. Earned

1. Collected  (4252E)40,000

2. Receivable from Federal sources

3b. Change in unfilled customer orders

1. Advance received 

2. W/o advance from Federal sources

3c. Transfers from trust funds

3d. Anticipated          0

3e. Subtotal 40,000

4. Recoveries of prior year obligations

5. Temporarily not available pursuant to Public Law

6. Permanently not available

7. Total Budgetary Resources190,000

**PERFORMING FUND**

**SF 133 REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES/SBR:  STATEMENT OF BUDGETARY RESOURCES**

For the year ended, September 30, 20xx

Status of Budgetary Resources:

8. Obligations Incurred 

8a. Direct  (4902E)150,0008b. Reimbursable (4902E)  20,000

8c. Subtotal170,000

9. Unobligated balance:

9a. Apportioned  (4610E)  20,000

9b. Exempt from apportionment

9c. Other available 

10. Unobligated balances not available          0 

11. Total Status of Budgetary Resources             190,000

Relationship of Obligations to Outlays:

12. Obligated balance, net - beg of period                 0

13. Obligated balance transferred, net 

14. Obligated balance, net - end of period:

14a. Accounts receivable

14b. Unfilled customer orders 

from Federal sources

14c. Undelivered Orders

14d. Accounts Payable 

15.Outlays:

15a.Disbursements   (4902E)170,000

15b.Collections (4252E)  40,000

15c. Subtotal130,000

16. Less:  Offsetting receipts _______       

17. Net Outlays130,000

**PERFORMING FUND**

**CONSOLIDATED STATEMENT OF FINANCING**

For the year ended, September 30, 20xx

###### Resources Used to Finance Activities

Budgetary Resources Obligated

1. Obligations incurred (4902E)170,0002. Less: Spending authority from offsetting collections and recoveries (4252E)     40,000

3. Obligations net of offsetting collections and recoveries130,000

4. Less: Offsetting receipts5. Net obligations130,000

Other Resources

6. Donations and forfeitures of property                           7. Transfers in/out w/o reimbursement             8. Imputed financing from costs absorbed by others

9. Other 

10. Net other resources used to finance activities _____0

11. *Total resources used to finance activities* 130,000 

###### Resources Used to Finance Items not Part of the Net Cost of Operations

12.  Change in budgetary resources obligated for goods,

services and benefits ordered but not yet provided 

13.Resources that fund expenses recognized in prior periods

14.Budgetary offsetting collections and receipts that do not affect net cost

of operations

14a.  Credit program collections which increase liabilities for loan

guarantees or allowances for subsidy

14b.  Other                                        

15. Resources that finance the acquisition of assets or

liquidation of liabilities (8802E) 50,000          16. Other resources or adjustments to net obligated resources that do not

affect net cost of operations _______

17. *Total resources used to finance items not part of the net cost of operations*    50,000               

**PERFORMING FUND**

**CONSOLIDATED STATEMENT OF FINANCING**

For the year ended, September 30, 20xx

18. *Total resources used to finance the net cost of operations (line 11 - line 17)*80,000

*Components of the Net Cost of Operations that will not Require or Generate Resources in the Current Period:*

Components Requiring or Generating Resources in Future Periods:

19. Increase in annual leave liability

20. Increase in environmental and disposal liability

21. Upward/Downward reestimates of credit subsidy expense

22. Increase in exchange revenue receivable from the public

23. Other

24. Total components of Net Cost of Operations that will require or

generate resources in future periods______0

Components not Requiring or Generating Resources:

25. Depreciation and amortization (6710E)  10,00026. Revaluation of assets or liabilities                                                                        

27. Other (6500E)  

28. Total components of Net Cost of Operations that will not require or  

generate resources (lines 25...27)  10,000

 29. *Total components of net cost of operations that will not require or generate resources*

*in the current period*(line 24 + line 28)**10,000**

30. *Net Cost of Operations* (line 18 + line 29) 90,000

# PERFORMING FUND

# PROGRAM AND FINANCING SCHEDULE – ACTUALS

# For the year ended September 30, 20xx

# OBLIGATIONS BY PROGRAM ACTIVITY

# 1000  Total New Obligations (4902E)170,000

# BUDGETARY RESOURCES AVAILABLE FOR OBLIGATION:

# 2200  New Budget Authority (gross) (sum of lines 4000 to 6962)190,000

# 2395 Total New Obligations (Same as line 1000, opposite sign)(170,000)

# 2440 Unobligated Balance, carried forward, EOY (4610E)  20,000

# NEW BUDGET AUTHORITY (GROSS), DETAIL:

# 4000 Appropriation (4119E)150,000

# 6800 Spending Authority From Offsetting Collections (cash) (4252E)  40,000

# 7000 Total New Budget Authority  (gross) (sum 4000...6990)190,000

# CHANGE IN OBLIGATED BALANCES

# 7310 Total New Obligations (line 1000) 170,000

# OUTLAYS (GROSS), DETAIL

# 8690  Outlays from New Disc Auth (4902E)170,000 

# OFFSETS

# 8800 Off Collects f/ Federal sources (4252E) (40,000)

# NEW BUDGET AUTHORITY AND OUTLAYS

# 8900  Net Budget Auth (lines 2200 – (8800 thru 8896) 150,000

# 9000  Outlays (net) (lines 8690...8698 minus 8800...8845)  130,000     

Page 1 of 22 December, 2004