GENERAL FUND RECEIPT ACCOUNT (GFR) GUIDE

EFFECTIVE FISCAL YEAR 2020

PREPARED BY:

GENERAL LEDGER AND ADVISORY BRANCH

FISCAL ACCOUNTING OPERATIONS

BUREAU OF THE FISCAL SERVICE

U.S. DEPARTMENT OF THE TREASURY
Contents

Background................................................................................................................................................................................................................ 4

Definition of a General Fund Receipt (GFR) Account............................................................................................................................................... 4

Purpose...................................................................................................................................................................................................................... 4

Federal Account Symbols (FAS), Treasury Account Symbols (TAS), and Collections.............................................................................................. 4

GFR Account Categories in the FAST Book ............................................................................................................................................................... 5

GFR Account Reporting Responsibility ..................................................................................................................................................................... 8

Identifying and Reporting Custodial Collections...................................................................................................................................................... 8

FLOWCHART - GFR COLLECTIONS TO COLLECTING AGENCY’S FINANCIAL STATEMENTS ..................................................................................... 11

Chart - Impact on Collecting Entity’s Financial Statements by Various Types of Collections............................................................................... 12

Listing of USSGL Accounts Used in This Scenario................................................................................................................................................... 13

Scenario 1: Custodial Statement Collections: Collection of Nonexchange Revenue: Taxes – Individual and Not Otherwise Classified............ 16

Scenario 2: Custodial Statement Collections: Collection of Nonexchange Revenue – Fines and Penalties ........................................................ 34

Scenario 3: Non-Custodial Statement Collections: Collection of Exchange Revenue with Related Costs........................................................... 47
Version 

Number

Date Description of Change Effective USSGL TFM

1.0 08/2007 Original TFM Bulletin No. 2018-04

2.0 04/2020 Added General Fund of the U.S. 

Government Transactions, Updated 

Financial Statements
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Background

Definition of a General Fund Receipt (GFR) Account

The Government Accountability Office (GAO) defines a GFR Account as: “A receipt account credited with all collections that are not 

earmarked by law for another account for a specific purpose. These collections are presented in the President’s budget as either 

governmental (budget) receipts or offsetting receipts. These include taxes, customs duties, and miscellaneous receipts.” (Government 

Accountability Office, A Glossary of Terms Used in the Federal Budget Process, September 2005, GAO–05-734SP)

Purpose

This guidance proposes accounting and reporting guidance for various collections classified in GFR accounts. The following 

scenarios illustrate accounting transactions and reporting for specific types of collections. The focus of this guidance is on the GFR 

account activity. Related transactions illustrated in the scenarios such as credit reform activities are covered in more detail in the other 

case studies. Refer to those case studies for questions not specifically related to GFR activity. 

Federal Account Symbols (FAS), Treasury Account Symbols (TAS), and Collections

The Federal Account Symbols and Titles (FAST) Book, published by Treasury, lists all FAS available for Federal agency use. A

collection can be classified to any of the listed accounts. To classify a receipt, append your agency’s two digit department code to the 

FAS. This combination of department code and FAS creates TAS. For example, collections for work performed in accordance with 

Economy Act can be deposited into any type of expenditure account. On the other hand, National Park Service fees are designated by 

law to be deposited to a special fund receipt account. Similarly, collections for the National Endowment for the Arts Gift Fund are 

designated by law to be deposited to a trust fund receipt account. Amounts collected in the course of business by the U.S. Postal 

Service are, by law, deposited to a revolving fund. Amounts not belonging to the Government are, by law, classified to deposit fund 

accounts. As you can see, a specific law determines how the collections in the preceding examples are classified in a TAS.

Absent specific legislation, collections should be classified to a General Fund Receipt TAS. Title 31, United States Code (USC), 

chapter 33, section 3302(b) establishes this concept by stating: “Except as provided in section 3718 (b) of this title, an official or agent 

of the Government receiving money for the Government from any source shall deposit the money in the Treasury as soon as 

practicable without deduction for any change or claim.” Also, Title 31, USC, chapter 33, section 3302(e) states that “an official or 

agent of the Government having custody or possession of public money shall keep an accurate entry of each amount of public money 

received, transferred, and paid.”
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GFR Account Categories in the FAST Book

The “Types of Collections and Relevant FASAB References” column was included in the table to assist users in providing 

background information. The users should note that the types of collections and limited paragraph references listed on the chart are 

suggestions and they should not be solely relied on. Each entity should perform its own research to determine the appropriate 

category for its collection.

FAS Description of Types of GFR Accounts Types of Collections and Relevant 

FASAB Reference

0100-Taxes Receipts from levies (other than duties on imports) under the taxing and 

regulatory powers of the Constitution, such as income, excise, and social security.

Nonexchange, SFFAS No. 7, par. 2, 5, 

21, 22, 30, 49, 129, 157, 242 - 244, 

246, 248, 249, 253, 255, 263, 281, 306, 

310

0300 – Custom duties Includes Duties on imports, received under U.S Customs laws. Nonexchange, SFFAS No. 7, par. 2, 5, 

30, 242, 249, 250, 253

0400 – Gains resulting from 

Government participation

Includes proceeds resulting from the exercise of warrants or the sale of security 

holding of the Government, when authorized in law.

Exchange, SFFAS No. 7, par. 3, 18, 33,

235, 294, 295

0600 – Receipts from monetary power Includes proceeds resulting from the exercise of the sovereign right to coin 

money; earnings of international business enterprises in which the government is 

a shareholder; and income from the Federal Reserve Bank System.

Nonexchange, SFFAS No. 7, par. 22,

257

0610 – Seigniorage Difference between the face value of coins and manufacturing cost including 

silver or other metals contained in coins.

Other Financing Source, SFFAS No. 7, 

par. 70, 305

0800 – Fees for regulatory and judicial 

services

Fees and other charges that result from the exercise of a governmental function of 

a regulatory or judicial nature. Includes fees and charges relating to application 

for and issuance of permits for aliens, petitions for naturalization, and papers for 

U.S. citizens to travel abroad; fees and other charges related to the application for 

and issuance and assignment of patents, trademarks and copyrights; and charges 

Exchange, SFFAS No. 7, par. 3, 282, 

283
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FAS Description of Types of GFR Accounts Types of Collections and Relevant 

FASAB Reference

for registration of individuals, firms, or products; and fees for filing or 

reproducing of documents.

1000 – Fines, penalties and forfeitures Moneys received from levies imposed for violation of laws and regulations; 

confiscated or unclaimed funds; and proceeds from confiscated or unclaimed 

property.

Nonexchange, SFFAS 7, par. 2, 5, 30, 

49, 54, 61, 173, 260 - 262

1100 – Restitutions, reparations, and 

recoveries under military occupation

Indemnities and compensation resulting from destruction of government property 

as a result of a military action from war. Activities and payment by government 

of occupied areas for occupation costs.

If exchange – SFFAS 7, par 18,33, 43

If nonexchange – SFFAS 7, par 5

If other financing source- SFFAS 7, par 

70

1200 – Gifts and contributions Funds or proceeds from property voluntarily transferred to the government 

without compensation or valuable consideration.

Nonexchange, SFFAS 7, par. 30, 48, 

62, 258

1300-1400 – Interest Interest received on loans, investments, and other equities. Exchange, SFFAS No. 7, par.60.4, 158, 

159, 161, 272, 273, 280, 281

Nonexchange, SFFAS No. 7, par. 157, 

281, 306

Predominant source, SFFAS No. 7, par. 

36d, 154 – 156, 160, 307 – 309, 322, 

323

1600 – Dividends and other earnings Receipts from current or accumulated earnings of Government-owned or 

sponsored corporations or enterprises; dividends or other income from nongovernmental enterprises; premiums on sale, and discounts on purchase of 

Exchange, SFFAS No. 7, par. 272
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FAS Description of Types of GFR Accounts Types of Collections and Relevant 

FASAB Reference

securities; gains from exchange of currency; and increments resulting from other 

financial transactions

1800 – Rent, including bonuses Monies received for the use and tenancy of government property, real or personal, 

based on a fixed charge, including bonuses paid under competitive bids for leases.

Exchange, SFFAS No. 7, par. 45, 140, 

142 – 144, 272, 274, 276, 277

2000 – Royalties Moneys received for the use of government property or rights, based on an agreed 

rate per unit extracted, produced, or manufactured, or on a fixed share of the 

income or profit resulting from the use of the property.

Exchange, SFFAS No. 7, par. 45, 140, 

142 – 144, 274, 276, 277

2200 – Sale of products Proceeds from the sale of any article or commodity produced by, or resulting 

from, the efforts of a government activity, or the by-product of such activity.

Exchange, SFFAS 7, par. 270, 271,

294, 354

2400 – Fees and other charges for 

services and special benefits

Moneys received for services or special benefits, which are proprietary in nature 

and are optional on the part of the recipient.

If user fee is exchange SFFAS 7, par. 

33, 282

If user fee is nonexchange1 - SFFAS 7, 

par. 249, 251-255

2600 – Sale of Government property Proceeds from the sale of tangible property, real or personal, representing the 

liquidation of, or realization upon, assets other than the sale of products. Includes 

S and E funded activity and grant-funded activity.

Exchange-gain/loss, SFFAS No. 7, par. 

295, 354

2670 -2799 – Negative subsidies and 

downward reestimates of subsidies

Receipt of amounts paid for associated financing accounts when there is a 

negative subsidy or a downward reestimate pursuant to the Federal Credit Reform 

Act of 1990.

Reduction of expense, SFFAS No. 7, 

par. 362, 363

1 See FAS 2467–Reimbursement by Postal Service for Unemployment Benefits, and FAS 2480—Tariff Filing Fees, Department of Transportation
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FAS Description of Types of GFR Accounts Types of Collections and Relevant 

FASAB Reference

2800-2900 – Realization upon loans 

and investments

Proceeds from the liquidation of, or realization upon, intangible assets, including 

the return to the government of moneys previously invested, loaned, or advanced; 

and the sale, retirement, or cancellation of government-owned stocks, bonds, and 

securities.

Liquidation of intangible assets and 

marketable securities - Gains/Losses

SFFAS 7, par. 304

3000 – Recoveries and refunds The return of moneys paid to, but not due, the recipient; compensation for loss of 

or damage to property; and other recoveries and refunds. 

If exchange – 18,33 

If nonexchange – 5

If other financing source- 70

GFR Account Reporting Responsibility

Within each GFR account category listed in the FAST Book there are unique FAS to identify specific activity. After selecting the 

proper TAS, the reporting entity should append its 3-digit agency identifier code to the beginning of the TAS for classifying the 

receipt to Treasury. A collecting entity typically reports all GFR TAS beginning with its 3-digit agency identifier code within its 

entity financial statements.

Identifying and Reporting Custodial Collections

This guidance uses the word “custodial” as it relates to the Statement of Custodial Activity. The Statement of Custodial Activity was 

intended for those entities whose primary mission is collecting taxes or other revenues, particularly sovereign revenues that are 

intended to finance the entire Government’s operations, or at least the programs of other entities, rather than their own activities2. 

Organizations that collect custodial revenues that are incidental to their primary mission do not need to report the collections and 

disposition of these revenues in a separate statement. The disclosure of the sources and amounts of the collections and the amounts 

distributed to others could be disclosed in accompanying footnotes3. 

2 See SFFAC No. 2, paragraph 101.

3 SFFAC No. 2, paragraph 103.
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Nonexchange Revenue

Entities that collect nonexchange revenue for the General Fund and other entities should not recognize the revenue as theirs, but 

instead they need to account and report for that revenue in accordance with provisions of Statement of Federal Financial Accounting 

Concept No. 2 above and Statement of Federal Financial Accounting Standard No. 7 (paragraphs 48-63).

Exchange Revenue

The collection of exchange revenue is generally reported on the Statement of Net Cost but under exceptional circumstances, an entity 

may recognize virtually no costs (either during the current period or during past periods) in connection with earning revenue that it 

collects. In such cases:

45.1. The collecting entity should not offset its gross costs by such exchange revenue in determining its net cost of operations. 

If such exchange revenue is retained by the entity, it should be recognized as a financing source in determining the entity’s 

operating results. If, instead, such revenue is collected on behalf of other entities (including the U.S. Government as a whole), 

the entity that collects the revenue should account for that revenue as a custodial activity, i.e., an amount collected for others. 

45.2. If the collecting entity transfers the exchange revenue to other entities, similar recognition by other entities is appropriate. 

a. If the other entities to which the revenue is transferred also recognize virtually no costs in connection with the 

Government earning the revenue, the amounts transferred to them should not offset their gross cost in determining their 

net cost of operations but rather should be recognized as a financing source in determining their operating results. 

b. If the other entities to which the revenue is transferred do recognize costs in connection with the Government earning 

the revenue, the amounts transferred to them should offset their gross cost in determining their net cost of operations.

45.3. Because the revenue is exchange revenue regardless of whether related costs are recognized, it should be recognized and

measured under the exchange revenue standards.4

4 See SFFAS No. 7, paragraph 45.
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Agencies may request guidance from FASAB if determining the propriety of preparing a Statement of Custodial Activity or if a note 

disclosure for a given collection is an issue that cannot otherwise be resolved. 
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FLOWCHART - GFR COLLECTIONS TO COLLECTING AGENCY’S FINANCIAL STATEMENTS

Yes No

Yes

No

No

Custodial Revenue

Yes

No

Yes

Yes

Does the collecting 

agency have costs 

related to generating 

the revenue?

Is the custodial

revenue material?

Agency Revenue

Statement of 

Changes in Net 

Position

Balance 

Sheet

Not Revenue

Balance 

Sheet

Footnote 

Disclosure

Statement of 

Custodial Activity

Balance Sheet

Statement 

of Net 

Cost

Statement of 

Changes in Net 

Position

Is the GFR collection 

revenue?

Is the GFR collection 

exchange revenue?

Balance 

Sheet

Scenarios:

5 – Proceeds from disposition of assets 

(Transferred-In)

6 – Downward reestimate (Transferred-In)

7 - Seigniorage

Scenarios:

3 – Exchange Revenue

4 – Receivables from Canceled 

Authority

Scenarios: 1 Nonexchange Revenue

 2 Nonexchange Revenue
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Chart - Impact on Collecting Entity’s Financial Statements by Various Types of Collections

GFR Account Activity

Statement 

of Net 

Cost

Statement of 

Changes in Net 

Position (SCNP)

Statement 

of 

Custodial 

Activity 

(SCA)

Footnote 

Disclosure Balance Sheet

FASAB 

Standard 

Reference

(see Appendix) 

Collection of exchange revenue 

with virtually no related costs

No No Yes, if 

material and 

part of 

primary 

mission

Yes, if 

immaterial 

and 

incidental 

to primary 

mission

Yes, 

cumulative 

result is -0-.

SFFAS No. 7 –

Par. 45, 

Collection of nonexchange 

revenue

No No Yes, if 

material and 

part of 

primary 

mission

Yes, if 

immaterial 

and 

incidental 

to primary 

mission

Yes, 

cumulative 

result is -0-.

SFFAS No. 7 –

Par. 48, 49

Collection of exchange revenue 

with related costs incurred by 

collecting entity

Yes Yes, as a part of 

Net Cost (Line 24)

No No Yes, 

cumulative 

result is -0-.

SFFAS No. 7 –

Par. 43, 137

Other financing sources No Yes No No Yes, 

cumulative 

result is -0-.

SFFAS No. 7 –

Par. 70

Non-revenue collections No Yes No No Yes, 

cumulative 

result is -0-.

No reference 5

5 Contact FASAB for guidance on classifying these types of collections. 
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Listing of USSGL Accounts Used in This Scenario

Account Number Account Name

Budgetary

406000 Anticipated Collections From Non-Federal Sources

407000 Anticipated Collections From Federal Sources

411500 Loan Subsidy Appropriation

411900 Other Appropriations Realized

420100 Total Actual Resources – Collected

422100 Unfilled Customer Orders Without Advance

425100 Reimbursements and Other Income Earned - Receivable

426600 Other Actual Business - Type Collections from Non-Federal Sources

427100 Actual Program Fund Subsidy Collected

445000 Unapportioned Authority

451000 Apportionments

459000 Apportionments – Anticipated Resources – Programs Subject to Apportionment 

461000 Allotments-Realized Resources

465000 Allotments – Expired Authority

480100 Undelivered Orders – Obligations, Unpaid

490100 Delivered Orders – Obligations, Unpaid

490200 Delivered Orders – Obligations, Paid

Proprietary

101000 Fund Balance With Treasury 

131000 Accounts Receivable

132500 Taxes Receivable

132900 Allowance for Loss on Taxes Receivable

134100 Interest Receivable - Loans

135000 Loans Receivable

136000 Penalties and Fines Receivable – Not Otherwise Classified

136700 Allowance for Loss on Penalties and Fines Receivable – Not Otherwise Classified
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139900 Allowance for Subsidy

152500 Inventory – Raw Materials

152600 Inventory – Work-in-Process

152700 Inventory – Finished Goods

175000 Equipment

175900 Accumulated Depreciation on Equipment

211000 Accounts Payable

218000 Loan Guarantee Liability

219000 Other Liabilities With Related Budgetary Obligations

298000 Custodial Liability

298500 Liability for Non-Entity Assets Not Reported on the Statement of Custodial Activity

299000 Other Liabilities Without Related Budgetary Obligations

310000 Unexpended Appropriations - Cumulative

310100 Unexpended Appropriations – Appropriations Received

310700 Unexpended Appropriations – Used

331000 Cumulative Results of Operations

510000 Revenues From Goods Sold

520000 Revenues From Services Provided

532000 Penalties and Fines Revenue

532400 Contra Revenue for Penalties and Fines

570000 Expended Appropriations 

577500 Non-Budgetary Financing Sources Transferred In 

577600 Non-Budgetary Financing Sources Transferred Out 

579100 Adjustment to Financing Sources – Credit Reform

579500 Seigniorage

580000 Tax Revenue Collected – Not Otherwise Classified

580100 Tax Revenue Collected - Individual

582100 Tax Revenue Accrual Adjustment - Individual

583100 Contra Revenue for Taxes - Individual

590000 Other Revenue

599000 Collections for Others – Statement of Custodial Activity

599100 Accrued Collections for Others – Statement of Custodial Activity
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599300 Offset to Non-Entity Collections - Statement of Changes in Net Position

599400 Offset to Non-Entity Accrued Collections - Statement of Changes in Net Position

610000 Operating Expenses/Program Costs

619900 Adjustment to Subsidy Expense

650000 Cost of Goods Sold

661000 Cost Capitalization Offset

680000 Future Funded Expenses

711000 Gains on Disposition of Assets – Other

721000 Losses on Disposition of Assets – Other

880100 Offset for Purchases of Assets

880300 Purchases of Inventory and Related Properties
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Scenario 1: Custodial Statement Collections: Collection of Nonexchange Revenue: Taxes – Individual and Not 

Otherwise Classified

This scenario addresses collections of nonexchange tax revenue that are reported on the Statement of Custodial 

Activity. Refer to SFFAS No. 7, paragraphs 49, 176, 245, 281, and 353 and SFFAC No. 2, Entity and Display.

NOTE: The IRS has data limitations and cannot separately post, by tax class, penalties and fines receivables and 

revenue from taxes receivables and tax collections. FASAB’s SFFAS 7 paragraph 185 recognizes IRS systems 

limitations.

1. To record a collection of Non-Federal revenue reported on the Statement of Custodial Activity or on the custodial footnote that is 

deposited into a General Fund receipt account.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

101000 (G)6 Fund Balance With Treasury7

(RC 40)8

 580000 (N) Tax Revenue Collected – 

 Not Otherwise Classified

1,000

1,000

C141

Budgetary Entry

None

 

Proprietary Entry 

198000 (F) Assets for Agency’s 

Custodial and Non-Entity Liability 

 (RC 46)9

 201000 (F) Liability for Fund 

 Balance With Treasury (RC 40)

 

1,000

1,000

N/A

6 The Federal/Non-Federal attribute domain value of “G” will always have trading partner 099 agency identifier. 7 Although USSGL account 101000 is deposited into the General Fund of the U.S. Government, the collecting agency still has to carry the 

balances of USSGL accounts 101000 and 298500 on its quarterly Balance Sheet. Treasury’s CARS system does not sweep USSGL account 

101000 until the year end. The agency should make a note of this as a reconciling item.

8 RC – Reciprocal Category is shown for Intragovernmental Elimination Analysis (not included in GTAS upload)

9 The Trading Partner is Department of the Treasury (020).
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Also Post:

2. To record a contra-revenue in the amount of revenue collected for others and to establish a custodial liability.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

599000 (G) Collections for Others –

Statement of Custodial Activity (RC 44)

 298000 (G) Custodial Liability (RC 46) 

1,000

1,000

C142

Budgetary Entry

None

 

Proprietary Entry 

198000 (F) Asset for Agency’s 

Custodial and Non-Entity Liabilities –

General Fund of the U.S. Government 

(RC 46)

 571000 (F) Transfer in of Agency 

 Unavailable Custodial and Non-

 Entity Collections (RC 44)

1,000

1,000

GFR Account Preclosing Trial Balance

Account Description Debit Credit

Budgetary

None

Proprietary

101000 (G) Fund Balance With Treasury 1,000

298000 (G) Custodial Liability 1,000

580000 (N) Tax Revenue Collected 1,000

599000 (G) Collections for Others – Statement of 

Custodial Activity

1,000

Total 2,000 2,000
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BALANCE SHEET AS OF DECEMBER 31, YEAR 1

Line 

No.

GFR 

Account

Assets (Note 2)

Intragovernmental

1. Fund Balance with Treasury (Note 3) (101000E) 1,000

6. Total intragovernmental 1,000

15. Total assets 1,000

Liabilities (Note 13)

Intragovernmental

19. Other (Note 15, 16, and 17) (298000E) 1,000

20. Total Intragovernmental 1,000

Net Position

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) -

35. Total Net Position – All Other Funds -

36. Total Net Position -

37. Total liabilities and net position 1,000
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STATEMENT OF CUSTODIAL ACTIVITY FOR THE QUARTER ENDED DECEMBER 31, YEAR 1

Line 

No.

GFR 

Account

Revenue Activity:

Sources of Cash Collections:

7. Miscellaneous (580000E) 1,000

8. Total Cash Collections 1,000

10. Total Custodial Revenue 1,000

Disposition of Collections:

11. Transferred to Others (by Recipient) (599000E) 1,000

12. (Increase)/Decrease in Amounts Yet to be Transferred (+/-) (298000E) (1,000)

14. Retained by Reporting Entity -

15. Total Disposition of Collections -

16. Net Custodial Activity 1,000
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Reclassified Financial Statements:

RECLASSIFIED BALANCE SHEET AS OF DECEMBER 31, YEAR 1

Line 

No.

GFR 

Account

3 Federal

3.1 Fund Balance with Treasury (RC 40)/1 (101000E) 1,000

3.14 Total federal assets 1,000

4. Total assets 1,000

Liabilities 

7. Federal

7.10 Liability to the General Fund of the U.S. Government for custodial and other non-entity assets (RC 46)/1 (298000E) 1,000

7.15 Total federal liabilities 1,000

8 Total liabilities 1,000

9 Net Position

9.1 Net Position – funds from dedicated collections (580000E, 599000E) -

10 Total net position -

11. Total liabilities and net position 1,000
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RECLASSIFIED STATEMENT OF OPERATIONS AND CHANGES IN NET POSITION AS OF 

DECEMBER 31, YEAR 1

Line 

No.

GFR 

Account

5 Non-federal non-exchange revenue:

5.7 Other taxes and receipts (580000N) (1,000)

5.9 Total non-federal non-exchange revenue (1,000)

8 Other financing sources:

8.4 Non-entity collections transferred to the General Fund of the U.S. Government (RC 44) (599000E) 1,000

8.11 Total other financing sources 1,000

9 Net cost of operations -

10 Net position, end of period -
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Year 1 – 4th Quarter

1. To record a collection of Non-Federal revenue reported on the Statement of Custodial Activity or on the custodial footnote that is 

deposited into a General Fund receipt account.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With Treasury 

(RC 40)

 580100 (N) Tax Revenue Collected –

 Individual

6,000

6,000

C141

Budgetary Entry

None

 

Proprietary Entry 

198000 (F) Assets for Agency’s 

Custodial and Non-Entity Liability

 201000 (F) Liability for Fund 

 Balance With Treasury (RC 40)

6,000

6,000

N/A

Also Post:

2. To record a contra-revenue in the amount of revenue collected for others and to establish a custodial liability.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

599000 (G) Collections for Others –

Statement of Custodial Activity (RC 44)

 298000 (G) Custodial Liability (RC 46) 

6,000

6,000

C142

Budgetary Entry

None

 

Proprietary Entry 

198000 (F) Asset for Agency’s 

Custodial and Non-Entity Liabilities –

General Fund of the U.S. Government 

(RC 46)

 571000 (F) Transfer in of Agency 

 Unavailable Custodial and Non-

 Entity Collections (RC 44)

6,000

6,000

N/A
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3. To record accrual of nonexchange revenue at the end of the year. (See SFFAS No. 7, Para. 53-55)

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

132500 (N) Taxes Receivable 

 582100 (N) Tax Revenue Accrual 

 Adjustment – Individual 

3,000

3,000

C402

Budgetary Entry

None

 

Proprietary Entry 

None

Also Post:

4. To record contra-revenue in the amount of revenue accrued and establish a custodial liability.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

599100 (G) Accrued Collections for Others 

– Statement of Custodial Activity (RC 48)

 298000 (G) Custodial Liability (RC 46) 

3,000

3,000

C404

Budgetary Entry

None

 

Proprietary Entry 

198000 (F) Asset for Agency’s 

Custodial and Non-Entity Liabilities –

General Fund of the U.S. Government 

 (RC 46)

 571200 (F) Accrual of Agency 

 Amount To be Collected – Custodial 

 and Non-Entity – General Fund of the 

 U.S. Government (RC 48)

3,000

3,000
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 24 of 80 IRC Handout April 23, 2020 

5. To record in a General Fund receipt account, the accrued estimated uncollectible nonexchange revenue reported on the Statement of 

Custodial Activity or on the custodial footnote.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

583100 (N) Contra Revenue for Taxes -

Individual

 132900 (N) Allowance for Loss on 

 Taxes Receivable 

1,200

1,200

D424

Budgetary Entry

None

 

Proprietary Entry 

None

Also Post:

6. To record the reduction of custodial liability by the amount of estimated uncollectible nonexchange revenue collected for others in a 

General Fund receipt account.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

298000 (G) Custodial Liability (RC 46)

 599100 (G) Accrued Collections for 

 Others – Statement of Custodial Activity

 (RC 48) 

1,200

1,200

D422

Budgetary Entry

None

 

Proprietary Entry 

571200 (F) Accrual of Agency 

Amount To be Collected – Custodial 

and Non-Entity – General Fund of the 

U.S. Government (RC 48)

 198000 (F) Asset for Agency’s 

 Custodial and Non-Entity Liabilities 

 General Fund of the U.S. 

 Government (RC 46) 

 

1,200

1,200
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 25 of 80 IRC Handout April 23, 2020 

Preclosing Trial Balance – Year 1

Account Description Debit Credit

Budgetary - -

None - -

- -

Proprietary - -

101000 (G) Fund Balance With Treasury 7,000 -

132500 (N) Taxes Receivable 3,000 -

132900 (N) Allowance for Loss on Taxes Receivable - 1,200

298000 (G) Custodial Liability - 8,800

580000 (N) Tax Revenue Collected 1,000

580100 (N) Tax Revenue Collected - Individual - 6,000

582100 (N) Tax Revenue Accrual Adjustment -

Individual

- 3,000

583100 (N) Contra Revenue for Taxes - Individual 1,200 -

599000 (G) Collections for Others – Statement of 

Custodial Activity

7,000 -

599100 (G) Accrued Collections for Others – Statement 

of Custodial Activity

1,800

Total 20,000 20,000
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 26 of 80 IRC Handout April 23, 2020 

Year 1 – Preclosing Adjusting Entry

1. To record the closing of General Fund receipt accounts associated with fund balance at yearend. (Refer to TFM Bulletin No. 2019-15

paragraph 26 for a detailed description of the sweeping of the general fund receipt accounts.)

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

298000 (G) Custodial Liability (RC 46)

 101000 (G) Fund Balance With 

 Treasury (RC 40) 

7,000

7,000

F124

Budgetary Entry

None

 

Proprietary Entry 

201000 (F) Liability for Fund Balance 

With Treasury (RC 40)

 198000 (F) Asset for Agency’s

 Custodial and Non-Entity Liabilities 

 General Fund of the U.S. 

 Government (RC 46)

7,000

7,000

N/A
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 27 of 80 IRC Handout April 23, 2020 

Preclosing Adjusted Trial Balance – End of Year 1

Account Description Debit Credit

Budgetary - -

None - -

- -

Proprietary - -

132500 (N) Taxes Receivable 3,000 -

132900 (N) Allowance for Loss on Taxes Receivable - 1,200

298000 (G) Custodial Liability - 1,800

580000 (N) Tax Revenue Collected - 1,000

580100 (N) Tax Revenue Collected - Individual - 6,000

582100 (N) Tax Revenue Accrual Adjustment -

Individual

- 3,000

583100 (N) Contra Revenue for Taxes - Individual 1,200 -

599000 (G) Collections for Others – Statement of 

Custodial Activity

7,000 -

599100 (G) Accrued Collections for Others – Statement 

of Custodial Activity

1,800 -

Total 13,000 13,000
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 28 of 80 IRC Handout April 23, 2020 

Financial Statements

BALANCE SHEET AS OF SEPTEMBER 30, YEAR 1

Line 

No.

GFR 

Account

Assets (Note 2)

Intragovernmental

1. Fund Balance with Treasury (Note 3) (101000E) -

6. Total intragovernmental -

10. Taxes receivable, net (Note 7) (132500E, 132900E) 1,800

15. Total assets 1,800

Liabilities (Note 13)

Intragovernmental

19. Other (Note 15, 16, and 17) (298000E) 1,800

20. Total Intragovernmental 1,800

Net Position

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) (58XXXXE, 59XXXXE) -

35. Total Net Position – All Other Funds -

36. Total Net Position -

37. Total liabilities and net position 1,800
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 29 of 80 IRC Handout April 23, 2020 

STATEMENT OF CUSTODIAL ACTIVITY FOR THE YEAR ENDED SEPTEMBER 30, YEAR 1

Line 

No.

GFR 

Account

Total Custodial Revenue:

Sources of Cash Collections:

1. Individual Income and FICA/SECA Taxes (580100E) 6,000

7. Miscellaneous (580000E) 1,000

8. Total Cash Collections 7,000

9. Accrual Adjustments (+/-) (582100E, 583100E) 1,800

10. Total Custodial Revenue 8,800

Disposition of Collections:

11. Transferred to Others (by Recipient) (599000E) 7,000

12. (Increase)/Decrease in Amounts Yet to be Transferred (+/-) (599100E) 1,800

14. Retained by Reporting Entity -

15. Total Disposition of Collections 8,800

16. Net Custodial Activity -

OMB Circular No. A-136, Financial Reporting Requirements, Section II.3.8.35 – Note 35 Incidental Custodial Collections states: 

“Organizations collecting immaterial custodial revenues that are incidental to their primary mission may disclose the sources and 

amounts of the collections and the amounts distributed to others in accompanying notes rather than on the face of the statement.” Also, 

see SFFAC No. 2, Entity and Display, paragraph 103.

Note: The Statement of Net Cost, Statement of Changes in Net Position, Statement of Budgetary Resources, and the SF 133 & 

Schedule P are not applicable to this scenario.
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 30 of 80 IRC Handout April 23, 2020 

Reclassified Financial Statements

RECLASSIFIED BALANCE SHEET AS OF SEPTEMBER 30, YEAR 1

Line 

No.

GFR 

Account

1

2. Non-federal

2.2 Accounts and taxes receivable, net (132500E, 132900E) 1,800

2.9 Total non-federal assets 1,800

3 Federal

3.1 Fund Balance with Treasury (RC 40)/1 (101000E) -

3.14 Total federal assets -

4. Total assets 1,800

Liabilities 

7. Federal

7.11 Liability to agency Other Than the General Fund of the U.S. Government for custodial and other non-entity assets (RC 

10)/1 (298000E)

1,800

7.15 Total federal liabilities 1,800

8 Total liabilities 1,800

9 Net Position

9.2 Net Position – funds other than those from dedicated collections -

10 Total net position -

11. Total liabilities and net position 1,800
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 31 of 80 IRC Handout April 23, 2020 

RECLASSIFIED STATEMENT OF OPERATIONS AND CHANGES IN NET POSITION AS OF 

SEPTEMBER 30, YEAR 1

Line 

No.

GFR 

Account

5 Non-federal non-exchange revenue:

5.1 Individual income tax and tax withholdings (for use by Treasury only) (580100E, 582100E, 583100E) (7,800)

5.7 Other taxes and receipts (580000N) (1,000)

5.9 Total non-federal non-exchange revenue (8,800)

8 Other financing sources:

8.4 Non-entity collections transferred to the General Fund of the U.S. Government (RC 44) (599000E) 7,000

8.5 Accrual for non-entity amounts to be collected and transferred to the General Fund of the U.S. Government (RC 48) 

(599100E) 1,800

8.11 Total other financing sources 8,800

9 Net cost of operations -

10 Net position, end of period -

Note: The Reclassified Statement of Net Cost is not applicable to this scenario.
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 32 of 80 IRC Handout April 23, 2020 

Closing Entries

1. To record the closing of revenue, expense, and other financing source accounts to cumulative results of operations.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

331000 Cumulative Results of Operations

 599000 (G) Collections for Others –

 Statement of Custodial Activity (RC 44) 

 599100 (G) Accrued Collections for 

 Others – Statement of Custodial Activity

 (RC 48)

And:

580000 (N) Tax Revenue Collected

580100 (N) Tax Revenue Collected -

Individual 

582100 (N) Tax Revenue Accrual 

Adjustment - Individual 

 331000 Cumulative Results of 

Operations

 583100 (N) Contra Revenue for Taxes –

 Individual 

8,800

1,000

6,000

3,000

7,000

1,800

8,800

1,200

F336

Budgetary Entry

None

 

Proprietary Entry 

571000 (F) Transfer in of Agency 

Unavailable Custodial and Non-Entity 

Collections (RC 44)

571200 (F) Accrual of Agency 

Amount to be Collected – Custodial 

and Non-Entity – General Fund of the 

U.S. Government (RC 48)

 331000 Cumulative Results of 

 Operations 

7,000

1,800

8,800
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 33 of 80 IRC Handout April 23, 2020 

Post-Closing Trial Balance

Account Description Debit Credit

Budgetary - -

None - -

- -

Proprietary - -

132500 (N) Taxes Receivable 3,000 -

132900 (N) Allowance for Loss on Taxes Receivable - 1,200

298000 (G) Custodial Liability - 1,800

Total 3,000 3,000
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 34 of 80 IRC Handout April 23, 2020 

Scenario 2: Custodial Statement Collections: Collection of Nonexchange Revenue – Fines and Penalties

This assumption addresses collections of nonexchange fines and penalties revenue that are reported on the Statement of Custodial 

Activity. Refer to SFFAS No. 7, paragraphs 2, 5, 30, 49, 54, 61, 173, 260, and 262, and SFFAC No. 2, Entity and Display.

NOTE: The IRS has data limitations and cannot separately post, by tax class, penalties and fines receivables and revenue from

taxes receivables and tax collections. FASAB’s SFFAS 7 paragraph 185 recognizes IRS systems limitations.

1. To record accrual of nonexchange revenue. (See SFFAS No. 7, Para. 53-55)

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

136000 (N) Penalties and Fines Receivable 

– Not Otherwise Classified

 532000 (N) Penalties and Fines Revenue 

700

700

C402

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 35 of 80 IRC Handout April 23, 2020 

Also Post:

2. To record contra-revenue in the amount of revenue accrued and establish a custodial liability.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

599100 (G) Accrued Collections for Others 

– Statement of Custodial Activity (RC 48)

 298000 (G) Custodial Liability (RC 46) 

700

700

C404

Budgetary Entry

None

 

Proprietary Entry 

198000 (F) Asset for Agency’s 

Custodial and Non-Entity – General 

Fund of the U.S. Government (RC 46)

 571200 (F) Accrual of Agency

 Amount – To Be Collected –

 Custodial and Non-Entity – General 

 Fund of the U.S. Government (RC 48) 

700

700

GFR Account Preclosing Trial Balance

Account Description Debit Credit

Budgetary - -

None - -

- -

Proprietary - -

136000 (N) Penalties and Fines Receivable – Not 

Otherwise Classified

700 -

298000 (G) Custodial Liability - 700

532000 (N) Penalties and Fines Revenue - 700

599100 (G) Accrued Collections for Others – Statement 

of Custodial Activity

700 -

Total 1,400 1,400
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 36 of 80 IRC Handout April 23, 2020 

BALANCE SHEET AS OF DECEMBER 31, YEAR 1

Line 

No.

GFR 

Account

Assets (Note 2)

Intragovernmental

6. Total intragovernmental -

9. Accounts receivable, net (Note 6) (136000E) 700

15. Total assets 700

Liabilities (Note 13)

Intragovernmental

19. Other (Note 15, 16, and 17) (298000E) 700

20. Total intragovernmental 700

28. Total Liabilities 700

Net Position

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) -

35. Total Net Position – All Other Funds -

36. Total Net Position -

37. Total liabilities and net position 700
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 37 of 80 IRC Handout April 23, 2020 

Year 1 – 4th Quarter

1. To record penalties collected from the receivable previously recorded.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With Treasury 

 (RC 40) 

 136000 (N) Penalties and Fines 

 Receivable – Not Otherwise Classified 

 

600

600

C143

Budgetary Entry

None

 

Proprietary Entry 

198000 (F) Assets for Agency’s 

Custodial and Non-Entity Liability

 201000 (F) Liability for Fund 

 Balance With Treasury (RC 40)

600

600

N/A

2. To reclassify the offset from the revenue accrued to the revenue collected for others that is reported on the Statement of Custodial 

Activity or on the custodial footnote.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

599000 (G) Collection for Others –

Statement of Custodial Activity (RC 44)

 599100 (G) Accrued Collections for 

 Others – Statement of Custodial Activity

 (RC 48)

 

600

600

D584

Budgetary Entry

None

 

Proprietary Entry 

571200 (F) Accrual to Agency 

Amount – To Be Collected –

Custodial and Non-Entity – General 

Fund of the U.S. Government (RC 48)

 571000 (F) Transfer in of Agency 

 Unavailable Custodial and Non-

 Entity Collections (RC 44)

600

600
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 38 of 80 IRC Handout April 23, 2020 

3. To record in a General Fund receipt account, the accrued estimated uncollectible nonexchange revenue reported on the Statement of 

Custodial Activity or on the custodial footnote.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

532400 (N) Contra Revenue for Penalties 

and Fines 

 136700 (N) Allowance for Loss on 

 Penalties and Fines – Not Otherwise 

 Classified 

 

100

100

D424

Budgetary Entry

None

 

Proprietary Entry 

None

Also Post:

4. To record the reduction of custodial liability by the amount of estimated uncollectible nonexchange revenue collected for others in a 

General Fund receipt account.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

298000 (G) Custodial Activity (RC 46) 

 599100 (G) Accrued Collections for 

 Others – Statement of Custodial Activity

 (RC 48) 

 

100

100

D422

Budgetary Entry

None

 

Proprietary Entry 

571200 (F) Accrual of Agency 

Amount – To Be Collected –

Custodial and Non-Entity – General 

Fund of the U.S. Government (RC 48)

 198000 (F) Asset for Agency’s 

 Custodial and Non-Entity Liabilities 

 - General Fund of the U.S.

 Government (RC 46) 

100

100
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 39 of 80 IRC Handout April 23, 2020 

Year 1 Preclosing Trial Balance

Account Description Debit Credit

Budgetary - -

None - -

- -

Proprietary - -

101000 (G) Fund Balance With Treasury 600 -

136000 (N) Penalties and Fines Receivable – Not 

Otherwise Classified

100 -

136700 (N) Allowance for Loss on Penalties and Fines 

Receivable – Not Otherwise Classified

- 100

298000 (G) Custodial Liability - 600

532000 (N) Penalties and Fines Revenue - 700

532400 (N) Contra Revenue for Penalties and Fines 100 -

599000 (G) Collections for Others – Statement of 

Custodial Activity

600

Total 1,400 1,400
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 40 of 80 IRC Handout April 23, 2020 

Preclosing Adjusting Entry

1. To record the closing of General Fund receipt accounts associated with fund balance at yearend. (Refer to TFM Bulletin No. 2019-15

paragraph 26 for a detailed description of the sweeping of the general fund receipt accounts.)

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

298000 (G) Custodial Liability (RC 46)

 101000 (G) Fund Balance With Treasury

 (RC 40) 

600

600

F124

Budgetary Entry

None

 

Proprietary Entry 

201000 (F) Liability for Fund Balance

With Treasury (RC 40)

 198000 (F) Asset for Agency’s 

 Custodial and Non-Entity Liabilities 

 - General Fund of the U.S. 

 Government (RC 46)

600

600

N/A

Year 1 Preclosing Adjusted Trial Balance

Account Description Debit Credit

Budgetary - -

None - -

- -

Proprietary - -

136000 (N) Penalties and Fines Receivable – Not 

Otherwise Classified

100 -

136700 (N) Allowance for Loss on Penalties and Fines 

Receivable – Not Otherwise Classified

- 100

532000 (N) Penalties and Fines Revenue - 700

532400 (N) Contra Revenue for Penalties and Fines 100 -

599000 (G) Collections for Others – Statement of 

Custodial Activity

600 -

Total 800 800
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 41 of 80 IRC Handout April 23, 2020 

BALANCE SHEET AS OF SEPTEMBER 30, YEAR 1

Line 

No.

GFR 

Account

Assets (Note 2)

Intragovernmental

1. Fund Balance with Treasury (Note 3) (101000E) -

6. Total intragovernmental -

10. Accounts receivable, net (Note 6) (136000E, 136700E) -

15. Total assets -

Liabilities (Note 13)

Intragovernmental

19. Other (Note 15, 16, and 17) (298000E) -

20. Total Intragovernmental -

Net Position

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) -

35. Total Net Position – All Other Funds -

36. Total Net Position -

37. Total liabilities and net position -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 42 of 80 IRC Handout April 23, 2020 

STATEMENT OF CUSTODIAL ACTIVITY FOR THE YEAR ENDED SEPTEMBER 30, YEAR 1

Line 

No.

GFR 

Account

Revenue Activity:

Sources of Cash Collections:

7. Miscellaneous (532000E, 532400E) 600

8. Total Cash Collections 600

9. Accrual Adjustments (+/-) (136000B, 136700B) -

10. Total Custodial Revenue 600

Disposition of Collections:

11. Transferred to Others (by Recipient) (599000E) 600

12. (Increase)/Decrease in Amounts Yet to be Transferred (+/-) (599100E) -

14. Retained by Reporting Entity -

15. Total Disposition of Collections 600

16. Net Custodial Activity -

OMB Circular No. A-136, Financial Reporting Requirements, Section II.3.8.35 – Note 35 Incidental Custodial Collections states: 

“Organizations collecting immaterial custodial revenues that are incidental to their primary mission may disclose the sources and 

amounts of the collections and the amounts distributed to others in accompanying notes rather than on the face of the statement.” Also, 

see SFFAC No. 2, Entity and Display, paragraph 103.

Note: The Statement of Net Cost, Statement of Changes in Net Position, Statement of Budgetary Resources, and the SF 133 & 

Schedule P are not applicable to this scenario.
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 43 of 80 IRC Handout April 23, 2020 

Reclassified Financial Statements

RECLASSIFIED BALANCE SHEET AS OF SEPTEMBER 30, YEAR 1

Line 

No.

GFR 

Account

1

2. Non-federal

2.2 Accounts and taxes receivable, net (136000E, 136700E) -

2.9 Total non-federal assets -

3 Federal

3.1 Fund Balance with Treasury (RC 40)/1 (101000E) -

3.14 Total federal assets -

4. Total assets -

Liabilities 

7. Federal

7.11 Liability to agency Other Than the General Fund of the U.S. Government for custodial and other non-entity assets (RC 

10)/1 (298000E)

-

7.15 Total federal liabilities -

8 Total liabilities -

9 Net Position

10 Total net position -

11. Total liabilities and net position -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 44 of 80 IRC Handout April 23, 2020 

RECLASSIFIED STATEMENT OF OPERATIONS AND CHANGES IN NET POSITION AS OF 

SEPTEMBER 30, YEAR 1

Line 

No.

GFR 

Account

5 Non-federal non-exchange revenue:

5.7 Other taxes and receipts (532000N, 532400N) (600)

5.9 Total non-federal non-exchange revenue (600)

8 Other financing sources:

8.4 Non-entity collections transferred to the General Fund of the U.S. Government (RC 44) (599000E) 600

8.11 Total other financing sources 600

9 Net cost of operations -

10 Net position, end of period -

Note: The Reclassified Statement of Net Cost is not applicable to this scenario.
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 45 of 80 IRC Handout April 23, 2020 

Closing Entries

1. To record the closing of revenue, expense, and other financing source accounts to cumulative results of operations.

GFR Account Debit Credit TC General Fund of the U.S. 

Government (099)

Debit Credit TC

Budgetary Entry

None

Proprietary Entry

331000 Cumulative Results of Operations

 599000 (G) Collections for Others –

 Statement of Custodial Activity (RC 44) 

And:

532000 (N) Penalties and Fines Revenue

 331000 Cumulative Results of 

 Operations 

 532400 (N) Contra Revenue for 

 Penalties And Fines 

600

700

600

600

100

F336

Budgetary Entry

None

 

Proprietary Entry 

571000 (F) Transfer in of Agency 

Unavailable Custodial and Non-Entity 

Collections (RC 44)

 331000 Cumulative Results of 

 Operations

600

600
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 46 of 80 IRC Handout April 23, 2020 

Year 1 Post-Closing Trial Balance

Account Description Debit Credit

Budgetary - -

None - -

- -

Proprietary - -

136000 (N) Penalties and Fines Receivable – Not 

Otherwise Classified

100 -

136700 (N) Allowance for Loss on Penalties and Fines 

Receivable – Not Otherwise Classified

- 100

Total 100 100
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 47 of 80 IRC Handout April 23, 2020 

Scenario 3: Non-Custodial Statement Collections: Collection of Exchange Revenue with Related Costs

There are entities that collect exchange revenue with related costs where the collections are not retained by the collecting entity. In 

these cases, the entity should record the exchange revenue in its entity financial statements as usual. However, it should also reflect 

the disposition of the financing source on the Statement of Changes in Net Position. The example we have used for exchange revenue 

with related costs is the passport fees collected by the State Department. The State Department collects passport fees, which are not 

retained by the Department but are deposited directly to the General Fund Receipt Account. The passport fee is retained by the 

Federal Government and is generally not refundable whether the passport is issued or not. 

NOTE: Scenario 3 is for agencies who collect exchange revenue with related cost but who have no legal authority to retain/use 

the collection (hence would submit the collection to the GF), nonetheless they have to report the exchange revenue in their 

Statement of Net Cost (SNC) not the Statement of Custodial Activity (SCA) to offset the collection cost they incurred. The 

General Fund Expenditure TAS has been included to demonstrate this relationship. 

Year 1 Quarter 1
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 48 of 80 IRC Handout April 23, 2020 

1. To record the enactment of appropriations.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

411900 Other Appropriations Realized

 445000 Unapportioned Authority

Proprietary Entry

101000 (G) Fund Balance With Treasury

 (RC 40) 

 310100 (G) Unexpended Appropriations 

 Appropriations Received (RC 41)

450

450

450

450

A104

Budgetary Entry

None

Proprietary Entry

None 

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

320100 (F) Appropriations Outstanding –

Warrants Issued (RC 41) 

 201000 (F) Liability for Fund 

 Balance With Treasury (RC 40)

450

450

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 49 of 80 IRC Handout April 23, 2020 

2. To record budgetary authority apportioned by the Office of Management and Budget and available for allotment.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

445000 Unapportioned 

Authority

 451000 Apportionments

Proprietary Entry

None

450

450

A116

Budgetary Entry

None

Proprietary Entry

None 

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 50 of 80 IRC Handout April 23, 2020 

3. To record the allotment of authority.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

451000 Apportionments

 461000 Allotments – Realized 

 Resources

Proprietary Entry

None

450

450

A120

Budgetary Entry

None

Proprietary Entry

None 

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 51 of 80 IRC Handout April 23, 2020 

4. To record passport fees collected from the public. These collections are exchange revenue and not reported on the Statement of 

Custodial Activity. 

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

Proprietary Entry

101000 (G) Fund Balance With 

Treasury (RC 40) 

 520000 (N) Revenue From 

 Services Provided

120

120

C145

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

198000 (F) Assets for Agency’s 

Custodial and Non-Entity 

Liability 

 201000 (F) Liability for 

 Fund Balance With 

 Treasury (RC 40) 

120

120
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 52 of 80 IRC Handout April 23, 2020 

Also Post:

5. To record an offset for amounts collected for others and to establish a liability for non-entity assets that are not reported on the 

Statement of Custodial Activity or on the custodial footnote.

General Fund Expenditure 

TAS

Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

599300 (G) Offset to Non-Entity 

Collections – Statement of Changes in 

Net Position (RC 44)

 298500 (G) Liability For Non-Entity 

 Assets Not Reported on the Statement of 

 Custodial Activity (RC 46) 

 

120

120

C147

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

198000 (F) Asset for Agency’s Custodial 

and Non-Entity Liabilities – General 

Fund of the U.S. Government (RC 46) 

 571000 (F) Transfer in of Agency 

 Unavailable Custodial and Non-

 Entity Collections (RC 44)

120

120
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 53 of 80 IRC Handout April 23, 2020 

6. To record payment and disbursement of funds not previously accrued and record appropriations used this fiscal year.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

461000 Allotments – Realized Resources

 490200 Delivered Orders – Obligations, 

 Paid 

Proprietary Entry

610000 (N) Operating Expenses/Program 

Costs

 101000 (G) Fund Balance With 

 Treasury (RC 40)

310700 (G) Unexpended Appropriations 

– Appropriations Used (RC 39)

 570000 (G) Expended Appropriations 

 (RC 38) 

100

100

100

100

100

100

B107

B134

Budgetary Entry

None

Proprietary Entry

None 

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

201000 (F) Liability for Fund Balance 

With Treasury (RC 40)

 198000 (F) Assets for Agency’s 

 Custodial and Non-Entity Liability

 

570005 (F) Appropriations – Expended 

 (RC 38)

 320700 (F) Appropriations 

 Outstanding (RC 39)

100

100

100

100

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 54 of 80 IRC Handout April 23, 2020 

Year 1 – 1st Quarter Preclosing Trial Balance

General Fund Expenditure 

TAS

GFR Account

Account Description Debit Credit Debit Credit

Budgetary

411900 Other Appropriations Realized 450 - - -

461000 Allotments – Realized Resources - 350 - -

490200 Delivered Orders – Obligations, Paid - 100 - -

Total 450 450 - -

- -

Proprietary

101000 (G) Fund Balance With Treasury 350 - 120 -

298500 (G) Liability for Non-Entity Assets Not Reported on the Statement 

of Custodial Activity

- - - 120

310100 (G) Unexpended Appropriations – Appropriations Received - 450 - -

310700 (G) Unexpended Appropriations – Appropriations Used 100 - - -

570000 (G) Expended Appropriations - 100 - -

520000 (N) Revenue From Services Provided - - - 120

599300 (G) Offset to Non-Entity Collection – Statement of Changes in Net 

Position

- - 120 -

610000 (N) Operating Expenses/Program Costs 100 - - -

Total 550 550 240 240
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 55 of 80 IRC Handout April 23, 2020 

Financial Statements:

CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, YEAR 1

Line 

No.

Assets (Note 2)

Intragovernmental

1. Fund Balance with Treasury (Note 3) (101000E) 470

6. Total intragovernmental 470

15. Total assets 470

Liabilities (Note 13)

Intragovernmental

19. Other (Note 15, 16, and 17) (298500E) 120

20. Total Intragovernmental 120

28. Total Liabilities 120

Net Position

31. Unexpended appropriations – All Other Funds (Combined or Consolidated Totals) (310100E, 310700E) 350

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) (520000E, 570000E, 599300E, 

610000E)

-

35. Total Net Position – All Other Funds 350

36. Total Net Position 350

37. Total liabilities and net position 470
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 56 of 80 IRC Handout April 23, 2020 

CONSOLIDATED STATEMENT OF NET COST FOR THE QUARTER ENDED DECEMBER 31, YEAR 1

Line 

No.

Gross Program Costs (Note 22):

Program A:

1. Gross Costs (610000E) 100

2. Less: earned revenue (520000E) (120)

3. Net program costs: (20)

5. Net program costs including Assumption Changes: (20)

8. Net cost of operations (20)

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION FOR THE QUARTER ENDED

DECEMBER 31, YEAR 1

Line No.

Unexpended Appropriations:

4. Appropriations Received (310100E) 450

7. Appropriations used (310700E) (100)

8. Total Budgetary Financing Sources 350

9. Total Unexpended Appropriations 350

Budgetary Financing Sources:

14. Appropriations used (570000E) 100

Other Financing Sources (Nonexchange):

22. Other (+/-) (599300E) 120

23. Total Financing Sources 20

24. Net Cost of Operations (+/-) (20)

25. Net Change -

26. Cumulative Results of Operations -

27. Net Position 350
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 57 of 80 IRC Handout April 23, 2020 

STATEMENT OF BUDGETARY RESOURCES AS OF DECEMBER 31, YEAR 1

Line 

No.

Budgetary resources:

1290 Appropriations (discretionary and mandatory) (411900E) 450

1910 Total budgetary resources 450

Status of budgetary resources:

2190 New obligations and upward adjustments (total) (Note 29) (490200E) 100

2204 Apportioned, unexpired account (461000E) 350

2412 Unexpired unobligated balance, end of year 350

2490 Unobligated balance, end of year (total) 350

2500 Total budgetary resources 450

Outlays, net:

4190 Outlays, net (total) (discretionary and mandatory) (490200E) 100
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 58 of 80 IRC Handout April 23, 2020 

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE AS OF DECEMBER 31, YEAR 1

Line No. SF 133 Schedule P

BUDGETARY RESOURCES

All accounts:

0900 Total new obligations, unexpired accounts (490200E) 100

Budget authority:

Appropriations:

Discretionary:

Status of budgetary resources:

1100 Appropriation (411900E) 450 450

1160 Appropriation, discretionary (total) 450 450

1900 Budget authority (total) 450 450

1910 Total budgetary resources 450

1930 Total budgetary resources available 450

Memorandum (non-add) entries:

All accounts:

1940 Unobligated balance expiring (-) (461000E) 350

STATUS OF BUDGETARY RESOURCES

New obligations and upward adjustments:

Reimbursable:

2102 Category B (by project) (490200E) 100

2104 Reimbursable obligations (total) 100

2190 New obligations and upward adjustments (total) 100

Unobligated balance:

Apportioned, unexpired accounts:

2201 Available in the current period (461000E) 350

2412 Unexpired unobligated balance: end of year 350

2490 Unobligated balance, end of year (total) 350

2500 Total budgetary resources 450
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 59 of 80 IRC Handout April 23, 2020 

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE AS OF DECEMBER 31, YEAR 1

Line No. SF 133 Schedule P

Memorandum (non-add) entries:

2501 Subject to apportionment unobligated balance, end of year (461000E, 490200E) 450

CHANGE IN OBLIGATED BALANCE

Unpaid obligations:

3010 New obligations, unexpired accounts (490200E) 100 100

Memorandum (non-add) entries:

3200 Obligated balance, end of year (+ or -) 100 100

BUDGET AUTHORITY AND OUTLAYS, NET

Discretionary:

Gross budget authority and outlays:

4000 Budget authority, gross 450 450

Outlays, gross

4010 Outlays from new discretionary authority (490200E) 100 100

4020 Outlays, gross (total) 100 100

4070 Budget authority, net (discretionary) 450 450

4080 Outlays, net (discretionary) 100 100

Budget authority and outlays, net (total)

4180 Budget authority, net (total) 450 450

4190 Outlays, net (total) 100 100

Unexpended balances (Direct/Reimbursable/Discretionary/Mandatory)

5321 Direct unobligated balance, end of year (461000E) 350 350
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 60 of 80 IRC Handout April 23, 2020 

Year 1 – 4th Quarter

1. To record passport fees collected from the public. These collections are not reported on the Statement of Custodial Activity.

General Fund Expenditure 

TAS

Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With 

Treasury (RC 40)

 520000 (N) Revenue From 

 Services Provided 

250

250

C145

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

198000 (F) Assets for Agency’s 

Custodial and Non-Entity Liability 

 201000 (F) Liability for Fund

 Balance With Treasury 

 (RC 40)

250

250
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 61 of 80 IRC Handout April 23, 2020 

Also Post:

2. To record an offset for amounts collected for others and to establish a liability for non-entity assets that are not reported on the 

Statement of Custodial Activity or on the custodial footnote.

General Fund Expenditure 

TAS

Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

599300 (G) Offset to Non-Entity 

Collections – Statement of Changes in 

Net Position (RC 44)

 298500 (G) Liability For Non-Entity 

 Assets Not Reported on the Statement 

 of Custodial Activity (RC 46) 

250

250

C147

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

198000 (F) Asset for Agency’s Custodial 

and Non-Entity Liabilities – General 

Fund of the U.S. Government (RC 46)

 571000 (F) Transfer in of Agency

 Unavailable Custodial and Non-

 Entity Collections (RC 44)

250

250
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 62 of 80 IRC Handout April 23, 2020 

3. To record payment and disbursement of funds not previously accrued.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

461000 Allotments – Realized Resources

 490200 Delivered Orders – Obligations, 

 Paid 

Proprietary Entry

610000 (N) Operating Expenses/Program 

Costs

 101000 (G) Fund Balance With 

 Treasury (RC 40)

310700 (G) Unexpended Appropriations 

– Appropriations Used (RC 39)

 570000 (G) Expended Appropriations 

 (RC 38)

200

200

200

200

200

200

B107

B134

Budgetary Entry

None

Proprietary Entry

None 

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

201000 (F) Liability for Fund Balance 

With Treasury (RC 40)

 198000 (F) Assets for Agency’s 

 Custodial and Non-Entity Liability

 

570005 (F) Appropriations – Expended 

 (RC 38)

 320700 (F) Appropriations 

 Outstanding (RC 39)

200

200

200

200

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 63 of 80 IRC Handout April 23, 2020 

Year 1 4th Quarter Preclosing Trial Balance

General Fund Expenditure 

TAS

GFR Account

Account Description Debit Credit Debit Credit

Budgetary

411900 Other Appropriations Realized 450 - - -

461000 Allotments – Realized Resources - 150 - -

490200 Delivered Orders – Obligations, Paid - 300 - -

Total 450 450 - -

- -

Proprietary

101000 (G) Fund Balance With Treasury 150 - 370 -

298500 (G) Liability for Non-Entity Assets Not Reported on the Statement 

of Custodial Activity

- - - 370

310100 (G) Unexpended Appropriations – Appropriations Received - 450 - -

310700 (G) Unexpended Appropriations – Appropriations Used 300 - - -

570000 (G) Expended Appropriations - 300 - -

520000 (N) Revenue From Services Provided - - - 370

599300 (G) Offset to Non-Entity Collection – Statement of Changes in Net 

Position

- - 370 -

610000 (N) Operating Expenses/Program Costs 300 - - -

Total 750 750 740 740
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 64 of 80 IRC Handout April 23, 2020 

Preclosing Adjusting Entry

1. To record the closing of General Fund receipt accounts associated with fund balance at yearend.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

None 

Budgetary Entry

None

 

Proprietary Entry 

298500 (G) Liability for Non-Entity 

Assets Not Reported on the Statement 

of Custodial Activity (RC 46)

 101000 (G) Fund Balance With 

 Treasury (RC 40) 

370

370

F124

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

 

Proprietary Entry 

201000 (F) Liability for Fund Balance 

With Treasury (RC 40)

 198000 (F) Asset for Agency’s 

 Custodial and Non-Entity Liabilities

 General Fund of the U.S. 

 Government (RC 46)

370

370
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 65 of 80 IRC Handout April 23, 2020 

Year 1 4th Quarter Preclosing Adjusted Trial Balance

General Fund Expenditure 

TAS

GFR Account

Account Description Debit Credit Debit Credit

Budgetary

411900 Other Appropriations Realized 450 - - -

461000 Allotments – Realized Resources - 150 - -

490200 Delivered Orders – Obligations, Paid - 300 - -

Total 450 450 - -

- -

Proprietary

101000 (G) Fund Balance With Treasury 150 - - -

310100 (G) Unexpended Appropriations – Appropriations Received - 450 - -

310700 (G) Unexpended Appropriations – Appropriations Used 300 - - -

570000 (G) Expended Appropriations - 300 - -

520000 (N) Revenue From Services Provided - - - 370

599300 (G) Offset to Non-Entity Collection – Statement of Changes in Net 

Position

- - 370 -

610000 (N) Operating Expenses/Program Costs 300 - - -

Total 750 750 370 370
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 66 of 80 IRC Handout April 23, 2020 

Financial Statements:

CONSOLIDATED BALANCE SHEET AS OF SEPTEMBER 30, YEAR 1

Line 

No.

Assets (Note 2)

Intragovernmental

1. Fund Balance with Treasury (Note 3) (101000E) 150

6. Total intragovernmental 150

15. Total assets 150

Liabilities (Note 13)

Intragovernmental

19. Other (Note 15, 16, and 17) (298500E) -

20. Total Intragovernmental -

28. Total Liabilities -

Net Position

31. Unexpended appropriations – All Other Funds (Combined or Consolidated Totals) (310100E, 310700E) 150

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) (520000E, 570000E, 599300E, 

610000E)

-

35. Total Net Position – All Other Funds 150

36. Total Net Position 150

37. Total liabilities and net position 150
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 67 of 80 IRC Handout April 23, 2020 

CONSOLIDATED STATEMENT OF NET COST FOR THE YEAR ENDED SEPTEMBER 30, YEAR 1

Line 

No.

Gross Program Costs (Note 22):

Program A:

1. Gross Costs (610000E) 300

2. Less: earned revenue (520000E) (370)

3. Net program costs: (70)

5. Net program costs including Assumption Changes: (70)

8. Net cost of operations (70)
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 68 of 80 IRC Handout April 23, 2020 

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION FOR THE YEAR ENDED

SEPTEMBER 30, YEAR 1

Line 

No.

All 

Other 

Funds

Consolidated

Unexpended Appropriations:

4. Appropriations Received (310100E) 450 450

7. Appropriations used (310700E) (300) (300)

8. Total Budgetary Financing Sources 150 150

9. Total Unexpended Appropriations 150 150

Budgetary Financing Sources:

14. Appropriations used (570000E) 300 300

Other Financing Sources (Nonexchange):

22. Other (+/-) (599300E) (370) (370)

23. Total Financing Sources (70) (70)

24. Net Cost of Operations (+/-) (70) (70)

25. Net Change - -

26. Cumulative Results of Operations - -

27. Net Position 150 150
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 69 of 80 IRC Handout April 23, 2020 

STATEMENT OF BUDGETARY RESOURCES FOR THE YEAR ENDED SEPTEMBER 30, YEAR 1

Line 

No.

Budgetary resources:

1290 Appropriations (discretionary and mandatory) (411900E) 450

1910 Total budgetary resources 450

Memorandum (non-add) entries:

1980 Net adjustments to unobligated balance brought forward, Oct 1 (Note 26) (411900E) -

Status of budgetary resources:

2190 New obligations and upward adjustments (total) (Note 29) (490200E) 300

2204 Apportioned, unexpired account (461000E) 150

2412 Unexpired unobligated balance, end of year 150

2490 Unobligated balance, end of year (total) 150

2500 Total budgetary resources 450

Outlays, net:

4190 Outlays, net (total) (discretionary and mandatory) (490200E) 300
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 70 of 80 IRC Handout April 23, 2020 

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE FOR THE YEAR ENDED SEPTEMBER 30, YEAR 1

Line No. SF 133 Schedule P

BUDGETARY RESOURCES

All accounts:

0900 Total new obligations, unexpired accounts (490200E) 300

Budget authority:

Appropriations:

Discretionary:

Status of budgetary resources:

1100 Appropriation (411900E) 450 450

1160 Appropriation, discretionary (total) 450 450

1900 Budget authority (total) 450 450

1910 Total budgetary resources 450

1930 Total budgetary resources available 450

Memorandum (non-add) entries:

All accounts:

1940 Unobligated balance expiring (-) (461000E) 150

STATUS OF BUDGETARY RESOURCES

New obligations and upward adjustments:

Reimbursable:

2102 Category B (by project) (490200E) 300

2104 Reimbursable obligations (total) 300

2190 New obligations and upward adjustments (total) 300

Unobligated balance:

Apportioned, unexpired accounts:

2201 Available in the current period (461000E) 150

2412 Unexpired unobligated balance: end of year 150

2490 Unobligated balance, end of year (total) 150

2500 Total budgetary resources 450
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 71 of 80 IRC Handout April 23, 2020 

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE AS OF SEPTEMBER 30, YEAR 1

Line No. SF 133 Schedule P

Memorandum (non-add) entries:

2501 Subject to apportionment – excluding anticipated amounts (461000E, 490200E) 450

CHANGE IN OBLIGATED BALANCE

Unpaid obligations:

3010 New obligations, unexpired accounts (490200E) 300 300

Memorandum (non-add) entries:

3200 Obligated balance, end of year (+ or -) 300 300

BUDGET AUTHORITY AND OUTLAYS, NET

Discretionary:

Gross budget authority and outlays:

4000 Budget authority, gross 450 450

Outlays, gross

4010 Outlays from new discretionary authority (490200E) 300 300

4020 Outlays, gross (total) 300 300

4070 Budget authority, net (discretionary) 450 450

4080 Outlays, net (discretionary) 300 300

Budget authority and outlays, net (total)

4180 Budget authority, net (total) 450 450

4190 Outlays, net (total) 300 300

Unexpended balances (Direct/Reimbursable/Discretionary/Mandatory)

5321 Direct unobligated balance, end of year (461000E) 150 150
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 72 of 80 IRC Handout April 23, 2020 

Reclassified Financial Statements

RECLASSIFIED BALANCE SHEET AS OF SEPTEMBER 30, YEAR 1

Line 

No.

GFR 

Account

1

2. Non-federal

2.2 Accounts and taxes receivable, net (136000E, 136700E) -

2.9 Total non-federal assets -

3 Federal

3.1 Fund Balance with Treasury (RC 40)/1 (101000E) 150

3.14 Total federal assets 150

4. Total assets 150

Liabilities 

7. Federal

7.10 Liability to the General Fund of the U.S. Government for custodial and other non-entity assets (RC 46)/1 (298500E) -

7.15 Total federal liabilities -

8 Total liabilities -

9 Net Position

9.1 Net Position – funds from dedicated collections (310100E, 310700E, 520000E, 570000E, 599300E, 610000E) 150

10 Total net position -

11. Total liabilities and net position 150
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 73 of 80 IRC Handout April 23, 2020 

RECLASSIFIED STATEMENT OF NET COST FOR THE YEAR ENDED SEPTEMBER 30, YEAR 1

Line 

No.

Gross cost

2. Non-federal gross cost (610000E) 300

6. Total non-federal gross cost 300

9. Department total gross cost 300

10. Earned Revenue

11. Non-federal earned revenue (520000E) (370)

14. Department total earned revenue (370)

15. Net cost of operations (70)
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 74 of 80 IRC Handout April 23, 2020 

RECLASSIFIED STATEMENT OF OPERATIONS AND CHANGES IN NET POSITION FOR THE YEAR ENDED 

SEPTEMBER 30, YEAR 1

Line 

No.

All 

Other 

Funds

Consolidated

7 Budgetary financing sources:

7.1 Appropriations received as adjusted (rescissions and other adjustments) (RC 41) – Footnote 1 

(310100E)

450 450

7.2 Appropriations used (RC 39) (310700E) (300) (300)

7.3 Appropriations expended (RC 38)/1 (570000E) (300) (300)

7.20 Total budgetary financing sources (150) (150)

8 Other financing sources:

8.4 Non-entity collections transferred to the General Fund of the U.S. Government (RC 44) (599300E) 370 370

8.11 Total other financing sources 370 370

9 Net cost of operations (+/-) (70) (70)

10 Net position, end of period 150 150
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 75 of 80 IRC Handout April 23, 2020 

Closing Entries

1. To record consolidation of actual resources.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

420100 Total Actual Resources – Collected

 411900 Other Appropriations Realized

Proprietary Entry

None 

450

450

F302

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

 

Proprietary Entry 

None

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 76 of 80 IRC Handout April 23, 2020 

2. To record the closing of paid delivered orders to total actual resources.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

490200 Delivered Orders – Obligations, 

Paid

 420100 Total Actual Resources -

Collected

Proprietary Entry

None 

300

300

F314

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None 

Proprietary Entry 

None

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 77 of 80 IRC Handout April 23, 2020 

3. To record the closing of Unobligated balance to expiring authority.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

461000 Allotments – Realized Resources

 465000 Allotments – Expired Authority

Proprietary Entry

None 

150

150

F312

Budgetary Entry

None

 

Proprietary Entry 

None

 

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

None

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 78 of 80 IRC Handout April 23, 2020 

4. To record the closing of revenue, expense and other financing source accounts to cumulative results of operations.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

331000 Cumulative Results of Operations 

 610000 (N) Operating Expenses/Program 

 Costs 

570000 (G) Expended Appropriations

 (RC 38)

 331000 Cumulative Results of 

Operations 

300

300

300

300

300

F336

Budgetary Entry

None

 

Proprietary Entry 

331000 Cumulative Results of 

Operations

 599300 (G) Offset to Non-Entity

 Collection – Statement of Changes 

 In Net Position (RC 44)

520000 (N) Revenue From Services 

Provided 

 331000 Cumulative Results of 

 Operations

370

370

370

370

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

331000 Cumulative Results of Operations

 570005 (F) Appropriations –

 Expended (RC 38)

300

300

Budgetary Entry

None

Proprietary

571000 (F) Transfer in of Agency

Unavailable Custodial and Non-Entity

Collections (RC 44)

 331000 Cumulative Results of 

 Operations

370

370
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 79 of 80 IRC Handout April 23, 2020 

5. To record the closing of appropriations received and used to unexpended appropriations.

General Fund Expenditure TAS Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

310100 (G) Unexpended Appropriations –

Appropriations Received (RC 41) 

 310000 Unexpended Appropriations

 310700 (G) Unexpended Appropriations 

 Used (RC 39)

450

150

300

F342

Budgetary Entry

None

 

Proprietary Entry 

None

 

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

320000 Appropriations Outstanding -

Cumulative

320700 (F) Appropriations Outstanding –

Used (RC 39)

 320100 (F) Appropriations 

 Outstanding – Warrants Issued 

 (RC 41)

150

300

450

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 80 of 80 IRC Handout April 23, 2020 

Post-Closing Trial Balance

General Fund Expenditure 

TAS

GFR Account

Account Description Debit Credit Debit Credit

Budgetary

420100 Total Actual Resources - Collected 150 - - -

465000 Allotments – Expired Authority - 150 - -

Total 150 150 - -

- -

Proprietary

101000 Fund Balance With Treasury 150 - - -

310000 Unexpended Appropriations – Cumulative - 150 - -

Total 150 150 - -