**New USSGL Accounts – General Fund “Other Liabilities/ Other Assets” (Effective Fiscal Year 2021)**

**Account Title: Other Liabilities Without Related Budgetary Obligations - General Fund of the U.S. Government**

**Account Number: 299010**

**Normal Balance:**Credit

**Definition:**Other liabilities not otherwise classified, for which there is not a related budgetary obligation. This account is for the General Fund of the U.S. Government use only. This account does not close at year-end.

**Justification:**The new 299010 account reduces complexity within the Balance Sheet and Reclassified Balance Sheet crosswalks by differentiating the reporting of the General Fund of the U.S. from other agencies.  Currently, the Balance Sheet line item “Other liabilities (RC 30) (Note 17)” includes two USSGL crosswalk line references to USSGL 299000 “Other Liabilities Without Related Budgetary Obligations.” 

**Account Title: Reductions of Other Liabilities - General Fund of the U.S. Government**

**Account Number: 299110**

**Normal Balance:**Credit

**Definition:**Other liabilities of reductions where there is not a related budgetary obligation. Use while awaiting a warrant to be issued for a reduction (i.e., rescission, across-the-board reduction, and sequestration). This account is for the General Fund of the U.S. Government use only. The warrant must be issued by year-end. This account does not close at year-end.

**Justification:**The new 299110 account reduces complexity within the Balance Sheet and Reclassified Balance Sheet crosswalks by differentiating the reporting of the General Fund of the U.S. from other agencies.****Currently, the Balance Sheet line item “Other liabilities (RC 30) (Note 17)” includes two USSGL crosswalk line references to USSGL 299100 “Other Liabilities – Reductions.”

**Account Title: Other Assets - General Fund of the U.S. Government**

**Account Number: 199010**

**Normal Balance:**Debit

**Definition:**Other assets of the General Fund of the U.S. Government not otherwise classified above. This account is for the General Fund of the U.S. Government use only. This account does not close at year-end.

**Justification:**The new 199010 account reduces complexity within the Balance Sheet and Reclassified Balance Sheet crosswalks by differentiating the reporting of the General Fund of the U.S. from other agencies.****Currently, the Balance Sheet line item “Other assets (RC 30)” includes two USSGL crosswalk line references to USSGL 199000 “Other Assets.”

**Attribute Table Impacts**

**Financial Statement Crosswalk Impacts (FY 2021)**

**Data Validations (FY 2021):**

· **No. 37:** Pd 12 Zero Balance Validation (The Dollar Amount for specific USSGL accounts must be $0 in period 12.) ***Applies to 299100***

· **No. 56** USSGL 199000 and Federal Non Federal Indicator "G" limited to certain Agencies. (Use of USSGL 199000 with Federal Non Federal Indicator "G" limited to certain agencies.) ***Applies to 199010***

**Data Edits (FY 2021):**

· **No. 4:** Fund Resources Equals Fund Equities (The sum of USSGL accounts that comprise Fund Resources must equal the sum of USSGL accounts that constitute Fund Equities.) ***Applies to 299100***

· **No. 22:** Beginning Proprietary Account Balance (The sum of the beginning balances for the proprietary USSGL accounts must equal zero for each reported TAS.) ***Applies to 299010***

· **No. 23:** Ending Proprietary Account Balance (The sum of the pre-closing ending balances for the proprietary USSGL accounts must equal zero for each reported TAS.) ***Applies to 299010, 299110, & 199010***

**Transaction Code Impacts (FY 2021):**

· **D148**Adds 299010 as a Credit entry to accrue the transfer-out of a downward reestimate to a General Fund Receipt Account.

· **D308**  Adds 299010 as a Credit entry to record a prior-period adjustment that reduces the value of a liability.

· **D312**  Adds 299010 as a Credit entry to record a prior-period adjustment that increases the value of a prior-year liability.

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**IRC Handout 4/23/2020**