United States Government Standard General Ledger Position/Policy Statement

Effective October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 1

PRESENTATION TO THE

STANDARD GENERAL LEDGER BOARD

SGL IMPACT

FASAB STANDARD

ACCOUNTING FOR REVENUE

AND

OTHER FINANCING SOURCES

FEBRUARY 13,1997

IRC REVENUE SUBCOMMITTEE

Tony Morales (Financial Management Service)

Gwen Ferrell (Financial Management Service)

Judy Yuran (Financial Management Service)

Steve Creeger (Financial Management Service)

Dave Mielke (National Aeronautics and Space Admin)

Eileen Parlow (Department of Education)

Veronica Kitchen (Housing and Urban Development)

Damon Sutton (Health and Human Services)

Sheila Zukor (Department of the Treasury)

Bob Reiley (U.S. Customs Service)

Greg James (Department of Labor) 

Mark Brey (Internal Revenue Service)

Presented by:

Financial Management Service

Tony Morales

Gwen Ferrell

Phone no. (202) 874-3832

Fax no. (202) 874-7232
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 2

Table of Contents 

TABLE OF CONTENTS

SECTION I

Detailed Description of Changes

Summary. ...................... 4

Proposed New SGL Accounts (Subsection I) ...... 5

Proposed Deletion of Current SGL Accounts (II) ... 7

Proposed Attributes (III) .............. 8

Proposed Changes to Existing SGL Accounts (IV) . . 11

SECTION II

Revenue Case Study ................... 12

Statement of Custodial Activity ............ 29

Statement of Net Cost ................. 31

Statement of Changes in Net Position .......... 32

Balance Sheet ..................... 33

Statement of Budgetary Resources ............ 34

Statement of Financing ................. 35

SECTION III

Proposed New Accounts and Definitions ......... 37

Current Account Titles and/or

Definitions to be Changed ............... 42
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 3

Detailed Description of Changes 

SECTION I
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 4

Detailed Description of Changes 

SUMMARY

Proposed New SGL Accounts: (Subsection I)

2980 Custodial Liability

5109 Contra Revenue for Goods Sold

5209 Contra Revenue for Services Provided

5310 Interest Revenue

5319 Contra Revenue for Interest

5320 Penalties and Fines Revenue

5329 Contra Revenue for Penalties and Fines

5409 Contra Revenue for Benefit Program Revenue 

5509 Contra Revenue for Insurance and Guarantee Premium

Revenue

5609 Contra Revenue for Donations

5720 Financing Sources Transferred-In without Reimbursement

5730 Financing Sources Transferred-Out without Reimbursement

5780 Imputed Financing Sources

5809 Contra Revenue for Taxes

5890 Tax Revenue Refunds

5909 Contra Revenue for Other Revenue

Proposed Deletion of Current SGL Accounts: (Subsection II)

3200 Invested Capital (summary account)

3210 Capital Investments

3220 Transfers-in from Others without Reimbursement

3230 Transfers-out to Others without Reimbursement

3300 Results of Operations

3320 Net Results of Operations

3400 Donations and Other Items

3500 Deferred Liquidating Cash Authority

3501 Future Funding Requirements

5300 Interest and Penalties Revenue (replaced by proposed

accounts 5310 and 5320)

Proposed Changes in the Title and/or Definition of

Current SGL Accounts: (Subsection IV)

3100 Unexpended Appropriations

5700 Appropriations Used

5990 Collections for Others
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 5

Detailed Description of Changes 

I. Proposed New SGL Accounts:

a. A Contra revenue account is used to report a

reduction in revenue when realization is not

probable (less likely than not). It includes

returns allowances and price redeterminations but

not bad debt expense which is only associated with 

exchange revenue. (¶41 and ¶126-131). A provision

to increase or decrease the allowance will result

in an adjustment of nonexchange revenue, rather

than a bad debt expense (¶56).

5109 Contra Revenue for Goods Sold

5209 Contra Revenue for Services Provided

5319 Contra Revenue for Interest

5329 Contra Revenue for Penalties and Fines

5409 Contra Revenue for Benefit Program Revenue

5509 Contra Revenue for Insurance and Guarantee

Premium Revenue

5609 Contra Revenue for Donations

5809 Contra Revenue for Taxes

5909 Contra Revenue for Other Revenue

b. The collecting entity accounts for the disposition

of revenue as part of its custodial activity. The

receiving entity recognizes the revenue. (¶353)

2980 Custodial Liability

c. Account 5300 will be replaced by two separate

accounts. Interest Revenue, which is exchange and

nonexchange and Penalties Revenue, which is

nonexchange by definition. (¶260,¶272,¶306,¶307)

5310 Interest Revenue

5320 Penalties and Fines Revenue
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 6

Detailed Description of Changes 

I. Proposed New SGL Accounts (continued):

d. The receiving entity shall recognize a transfer-in

as an additional financing source in the results

of operation. Conversely, the transferring agency

shall recognize a decrease in its results of

operations. (¶220,¶221,¶74)

5720 Financing Sources Transferred-In Without

Reimbursement

5730 Financing Sources Transferred-Out Without

Reimbursement

Note: Current accounts 3220 "Transfers-in from

Others without Reimbursement" and 3230

"Transfers-out to Others without

Reimbursement" are replaced.

e. To the extent that other standards require that

costs not on the entity's books be imputed to the

entity, the standards for other financing sources

require recognition of the corresponding imputed

financing. An imputed financing source should be

recognized equal to the imputed cost. This

offsets any effect of imputed cost on net results

of operations for the period. (¶8,¶73)

5780 Imputed Financing Sources

f. Cash refunds should be based on repayments of

taxes and duties during the period. (¶51 Paid)

Amounts payable for refunds should be recognized

when measurable and legally payable under

established processes of the collecting entities.

(¶57 Unpaid)

5890 Tax Revenue Refunds
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 7

Detailed Description of Changes 

II. Proposed Deletion of current SGL accounts:

a. Under the old federal accounting standards, the focus was on

matching all of an entity's financing with incurred expenses

to report "net results of operations" which generally was

not useful in evaluating performance. The new focus is on

costs --both gross and net-- which are useful in evaluating

performance on many levels (¶17). Reporting entities will

no longer be required to recognize appropriations used nor

accrue appropriations before they become available, thus

eliminating invested capital and future financing sources in

equity (¶217,¶218). Transfers-in and transfers-out are

necessary to show transfers of revenue (¶220). Donations

are recognized as revenue (¶222). Costs that are not yet

covered by budgetary resources are permanent "differences"

until they are financed (warrant rec'd) (¶223).

3200 Invested Capital - Summary Account

3210 Capital Investments

3220 Transfers-in from Others without Reimbursement

3230 Transfers-out to Others without Reimbursement

3300 Results of Operations - Summary Account

3320 Net Results of Operations

3400 Donations and Other Items

3500 Deferred Liquidating Cash Authority

3501 Future Funding Requirements

The equity accounts below will be eliminated by

reclassifying balances in deleted accounts to 3310

Cumulative Results of Operation. For example:

3210 Capital Investments

3220 Transfers-in from Oth w/o Reimb

3320 Net Results of Operations (Dr or Cr)

3400 Donations and Other Items

3501 Future Funding Requirements

3230 Transfers-Out to Oth w/o Reimb

3310 Cum Results Of Oper (Dr. or Cr.)
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 8

Detailed Description of Changes 

II. Proposed Deletion of current SGL accounts (continued):

b. This account will be replaced by two separate accounts. To

keep the numbering consistent in the SGL ("00" normally a

summary account), this number will be deleted and replaced

by 5310 "Interest Revenue" and 5320 "Penalties and Fines

Revenue".

5300 Interest and Penalties Revenue

DETAILED DESCRIPTION OF CHANGES

III. Proposed Attributes:

a. SGL accounts 5900 "Other Revenue" and 5909 "Contra

Revenue for Other Revenue" need to be split with

attributes for exchange and nonexchange.(¶63)

5900 Other Revenue - Exchange/Nonexchange

5909 Contra Revenue for Other Revenue -

Exchange/Nonexchange

The following accounts are Exchange by definition:

5100 Revenue from Goods Sold

5109 Contra Revenue for Goods Sold

5200 Revenue from Services Provided

5209 Contra Revenue for Services Provided

5400 Benefit Program Revenue

5409 Contra Revenue for Bene Prog Revenue

5500 Insurance and Guarantee Premium Revenue

5509 Contra Revenue for Insur/Guar Prem Revenue
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 9

Detailed Description of Changes 

III. Proposed Attributes (continued):

The following accounts are Nonexchange by definition:

5320 Penalties and Fines Revenue

5329 Contra Revenue for Penalties and Fines

5600 Donated Revenue

5609 Contra Revenue for Donated Revenue

5720 Financing Sources Transferred In Without

Reimbursement

5730 Financing Sources Transferred Out Without

Reimbursement

5800 Tax Revenue

5809 Contra Revenue for Tax Revenue

5890 Tax Revenue Refunded

b. Account 5310 needs to be split into exchange and

nonexchange. Interest is typically exchange except

when interest on treasury securities is collected by

non-revolving trust fund and special funds.

(¶260,¶272,¶306,¶307)

5310 Interest Revenue - Exchange/Nonexchange

5319 Contra Revenue for Interest Revenue -

Exchange/Nonexchange
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 10

Detailed Description of Changes 

III. Proposed Attributes (continued):

c. Revenue shall be measured on the basis of the revenue

collected or earned less refunds or accrual

adjustments. (¶49-52) The following accounts need to

be split between collected and receivable amounts and

between amounts payable and those that are paid.

5100 Revenue from Goods Sold -

Receivable/Collected

5200 Revenue from Services Provided - Rec/Coll

5300 Interest Revenue - Rec/Coll

5310 Penalties and Fines Revenue - Rec/Coll

5500 Insur and Guarantee Prem Revenue - Rec/Coll

5600 Donated Revenue - Rec/Coll

5800 Tax Revenues - Rec/Coll

5890 Tax Revenue Refunds - Paid/Unpaid

5900 Other Revenue - Rec/Coll

5990 Collections for Others - Paid/Unpaid

Note: The proposal for attributes "rec/coll" was considered

by the Revenue Subcommittee and the attributes were,

initially, part of the presentation made to the IRC

(10/31/96). However, upon further review of the

reporting requirements, which do not include the need

for FMS to collect this information through FACTS, the

attributes are no longer being proposed as additions to

the USSGL. For informational purposes, the attributes

are still present in this proposal to highlight that

agencies which report on Custodial Activity will be

required to measure their collection activities.
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 11

Detailed Description of Changes 

IV. Proposed Changes to Existing SGL Accounts:

a. Appropriations that have been made available for

apportionment but have not been used are recognized as

"unexpended appropriations" in the entity's capital.

(¶332)

3100 From: Appropriated Capital

 To: Unexpended Appropriations

b. Interest is typically exchange except when interest on

treasury securities is collected by non-revolving trust

fund and special funds. Penalties are typically nonexchange and therefore must be split from the current

account title and definition. (¶260,¶272,¶306,¶307)

5300 From: Interest and Penalties Revenue

 To: 5310 Interest Revenue

 5320 Penalties and Fines Revenue

c. Appropriations are accounted for as a financing source

when used and recognized as "appropriations used" in

determining net results of operations.

(¶7,¶71,¶72,¶214)

5700 From: Appropriated Capital Used

 To: Appropriations Used

d. The title of account 5990 should not include the word

revenue because this is not revenue of the collecting

entity. The word "contra" is being deleted because it

is not consistent with the use of contra revenue

accounts in this proposal. By nature this is still a

contra account, i.e., normal debit balance.

5990 From: Contra Revenue - Collected for Others

 To: Collections for Others
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 12

Revenue Case Study - Introduction 

SECTION II
United States Government Standard General Ledger Position/Policy Statement

OMB Bulletin No. 97-01, Formats and Instructions for the Form and Content of Agency 1

Financial Statements. Dated October 16, 1996, page 1, Introduction and Summary.

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 13

Revenue Case Study - Introduction 

The following case study is presented to demonstrate the use of

new or revised U.S. Standard General Ledger accounts being

proposed to the U.S. Standard General Ledger Board for inclusion

for Fiscal Years beginning after September 30, 1997. The case

study, in no way, purports to represent the transactions of a

specific agency of the U.S. Government. The transactions

contained within this case study are illustrative in nature and

are not to be taken as formal guidance for any specific account

type.

Furthermore, the sample reports presented after the case study

are included to demonstrate, only as examples, how the new or

revised accounts would be reported on Form & Content reports

mandated by OMB Circular 97-01 (Form & Content), dated October

16, 1996. We have chosen to use the formats of statements as

shown in Form & Content with one exception. On the Statement of

Custodial Activity, two alternatives are presented; the second

Statement of Custodial Activity is formatted in a way preferred

by the U.S. Customs Service and the Internal Revenue Service.

The use of sample formats from Form & Content does not preclude

an agency from using their judgement consistent with OMB

guidance. As a reminder, OMB has authority to specify the form

and content of agency financial statements. Form & Content

specifically states that:

“These formats and instructions provide a framework

within which individual agencies have the flexibility

to provide information useful to the Congress, agency

managers, and the public. The formats and instructions

provide guidance for meeting the requirements contained

in the SFFASs.” 1

Therefore, the use of the sample formats from OMB Form & Content

is not intended to demonstrate that these formats are the only

way for agencies to prepare their financial statements.
United States Government Standard General Ledger Position/Policy Statement

SFFAS #7 Accounting for Revenue and Other Financing Sources and Concepts for Reconciling 2

Budgetary and Financial Accounting, paragraph 49.

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 14

Revenue Case Study - Introduction 

Additionally, the case study makes use of the following

attributes to demonstrate the potential need for collection of

data:

R = Receivable

C = Collected

U = Unpaid

P = Paid

These attributes were considered by the Revenue Subcommittee and

were, initially, part of the presentation made to the Issues

Resolution Committee. However, upon further review of the

reporting requirements, which do not currently include the need

for FMS to collect this information through FACTS, the attributes

are no longer being proposed as additions to the U.S. SGL. 

However, an agency may use some other data elements to achieve

that which is demonstrated by the use of attributes in this

proposal. 

In spite of these facts, the attributes are still present in this

proposal to highlight the fact that agencies that report on

Custodial Activity will be required to measure their collection

activities:

“...in a manner that enables reporting of (1) cash

collections, refunds, and the “accrual adjustment”

necessary to determine the total revenue and (2) cash

or cash equivalents transferred to each of the

recipient entities and the revenue amounts to be

recognized by each of them.” 2

Accordingly, the Subcommittee members felt that it was necessary

to indicate, in some way, that some vehicle for the collection of

this information be acknowledged in the proposal to facilitate

reporting on the Statement of Custodial Activity.
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 15

Revenue Case Study - Transactions 

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

1. The collecting agency received an 

appropriation and estimated

reimbursements (from Federal Agencies)

for the Fiscal Year which were fully

apportioned and allotted. Warrant was

issued.

Budgetary entry

4119 Other Appropriations Realized 3000 None None 3000

4210 Anticipated Reimbursements and Other Income 

4610 Allotments Realized Resources

4590 Apportionments - Unavailable

Proprietary entry

1010 Fund Balance With Treasury

3100 Unexpended Appropriations

 500 500

3000 3000

 500 500

3000 None None 3500

3000 3500

2. The collecting agency estimated accruals

payable for prior year tax collections.

Budgetary entry None None None

None 

Proprietary entry None None

6330 Other Interest Expense - (Custodial) 50 50

5890U Tax Revenue Refunds - Unpaid

 2110 Accounts Payable

 500 500

 550 550

3. The collecting agency receives a

Permanent/Indefinite Appropriation to pay

refunds.

Budgetary entry

4119 Other Appropriations Realized None 550 None 550

 4610 Allotments - Realized Resources

Proprietary entry

1010 Fund Balance With Treasury

 3100 Unexpended Appropriations

None 550 None 550

 550 550

 550 550
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 16

Revenue Case Study - Transactions 

4. The collecting agency pays refunds on 

taxes. (see transaction #2)

Budgetary entry

4610 Allotments - Realized Resources None 550 None 550

4902 Expended Authority - Paid

Proprietary entry

5890P Tax Revenue Refunds - Paid

5890U Tax Revenue Refunds - Unpaid

2110 Accounts Payable

1010 Fund Balance with Treasury

 - & -

3100 Unexpended Appropriations

5700 Appropriations Used

None 500 None 500

 550 550

 500 500

 550 550

 550 550

 550 550

 550 550 

5. The collecting agency collected taxes,

duties, and interest on behalf of

Treasury.

Budgetary entry

None None None None None

Proprietary entries

1010 Fund Balance With Treasury None None 15100 15100

5800C Tax Revenue- Collected

5310C Interest Revenue - Collected

 - & -

5990U Collections for Others - Unpaid

2980 Custodial Liability

15000 15000

 100 100

 - & - - & -

15100 15100

15100 15100
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 17

Revenue Case Study - Transactions 

6. The collecting agency placed an order for

supplies, services and equipment.

Budgetary entry

4610 Allotments - Realized Resources 300 None None 300

4801 Undelivered Orders - Unpaid

Proprietary entry

None

300 300

None None None None

7. The collecting agency recorded receipt of

supplies, services and equipment.

Budgetary entry

4801 Undelivered Orders - Unpaid 300 None None 300

4901 Expended Authority - Unpaid

Proprietary entries

1750 Equipment

6100 Operating/Program Expense - Nonexchange

2110 Accounts Payable

 - & -

3100 Unexpended Appropriations

5700 Appropriations Used

 300 300

 125 None None 125

 175 175

 300 300

 300 300

 300 300 
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 18

Revenue Case Study - Transactions 

8. The collecting agency recorded payroll

for the FY.

Budgetary entry

4610 Allotments Available 900 None None 900

4901 Expended Authority - Unpaid

Proprietary entry

6100 Operating/Program Expense - Nonexchange

6100 Operating/Program Expense - Exchange

2210 Accrued Funded Payroll

 - & -

3100 Unexpended Appropriations

5700 Appropriations Used

 900 900

800 None None 800

100 100

 900 900

900 900

 900 900

9. The collecting agency recorded payments

for payroll, supplies, etc.

Budgetary entry

4901 Expend Authority - Unpaid 1200 None None 1200

4902 Expend Authority - Paid

Proprietary entries

2110 Accounts Payable

2210 Accrued Funded Payroll

1010 Fund Balance With Treasury

 1200 1200

 300 None None 300

 900 900

 1200 1200
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 19

Revenue Case Study - Transactions 

10. The collecting agency signs reimbursement

agreement.

Budgetary entry

4220 Unfilled Customer Orders 250 None None 250

4210 Anticipated Reimbursements

- & -

4590 Apportionments - Unavailable

4610 Allotments - Realized Resources

Proprietary entry

None

 250 250

 250 250

 250 250

None None None None

11. The collecting agency recorded

obligations that will be reimbursed.

Budgetary entry

4610 Allotments Available 250 None None 250

4801 Undelivered Orders - Unpaid

Proprietary entry

None 

 250 250

None None None None
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 20

Revenue Case Study - Transactions 

12. The collecting agency recorded expenses

and earnings for reimbursable services.

Budgetary entries

4801 Undelivered Orders - Unpaid 250 None None 250

4901 Expended Authority - Unpaid

 - & -

4251 Reimbursement & Other Income Earned - Rec

4220 Unfilled Customer Orders

Proprietary entries

1310 Accounts Receivable

5200 Rev from Services Provided

- & -

6100 Operating/Program Expense - Exchange

2110 Accounts Payable

 250 250

 250 250

 250 250

 250 None None 250

 250 250

 250 250

 250 250

13. The collecting agency recorded user

fees/penalties collected for the year

which are not available for agency use.

Budgetary entry

None None None None None

Proprietary entries

1010 Fund Balance With Treasury None None 1200 1200

5900C Other Rev - Nonexchange -Coll

5320C Penalties and Fines Rev -Coll

5990U Collections for Others - Unpaid

2980 Custodial Liability

 200 200

 1000 1000

1200 1200

 1200 1200
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 21

Revenue Case Study - Transactions 

14. The collecting agency received capital

equipment transferred to them from

another agency.

Budgetary entry

None None None None None

Proprietary entry

1750 Equipment None None

5720 Financing Sources Transferred-In 

Without Reimbursement

 800 800

 800 800

15. The collecting agency transferred

equipment to another agency.

Budgetary entry

None None None None None

Proprietary entry

5730 Financing Sources Transferred-Out Without 800 None None 800

Reimbursement

1750 Equipment 800 800

16. Record depreciation expense for the year.

Budgetary entry

None None None None None

Proprietary entry

6100 Operating and program expense - Nonexchange 55 None None 55

1759 Accumulated depreciation 55 55
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 22

Revenue Case Study - Transactions 

17. Tax revenue of $1000 and Other Revenue of

$100 to be collected were accrued and an

amount of uncollectible accounts

receivable was estimated (Tax: $60 &

Other Revenue: $10). This entry could be

combined.

Budgetary entry

None None None None None

Proprietary entries

1310 Accounts Receivable None None 1100 1100

5800R Tax Revenues - Receivable

5900R Other Revenue - Nonexch - Rec

 - & -

5990U Collections for Others - Unpaid

2980 Custodial Liability

To record the estimated uncollectible revenue:

Budgetary entry

None

Proprietary entries

2980 Custodial Liability

5990U Collections for Others-Unpaid

 - & -

5909 Contra Revenue for Other Revenue

5809 Contra Revenue for Taxes

1319 Allowance for Loss on Accts

Receivable

None None None None

None None 70 70

 1000 1000

 100 100

1100 1100

 1100 1100

 70 70

 10 10

 60 60

 70 70
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 23

Revenue Case Study - Transactions 

18. The collecting agency collected payments

for reimbursable activity on accounts

receivable. (receivable recorded in

trans. #12)

Budgetary entry

4252 Reimbursements & Other Income - Collected 250 None None 250

4251 Reimbursements & Other Inc. -Rec

Proprietary entry

1010 Fund Balance With Treasury

1310 Accounts Receivable

 250 250

 250 None None 250

 250 250

19. $75.00 of other revenue accrued in 

transaction #17 was collected.

Budgetary entry

None None None None None

Proprietary entries

1010 Fund Balance With Treasury None None 75 75

1310 Accounts Receivable

 - & -

5900R Other Revenue - (Nonexch) Rec

5900C Other Rev - (Nonexch) Coll

 75 75

 75 75 

 75 75
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 24

Revenue Case Study - Transactions 

20. The collecting agency recorded year end

entry to show funds transferred to

Treasury for the year.

Budgetary entry

None None None None None

Proprietary entry

2980 Custodial Liability None None 16300 16300

1010 Fund Balance With Treasury

- & -

5990P Collections for Others - Paid

5990U Collections for Others-Unpaid

16300 16300

16300 16300

16300 16300

21. The annual unfunded leave liability was

accrued.

Budgetary entry

None None None None None

Proprietary entries

6100 Operating/Prog expense - Exchange 5 None None 5

6100 Operating/Prog expense - Nonexchange

2220 Annual Leave Liability

 25 25 

 30 30
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 25

Revenue Case Study - Transactions 

22. The Collecting Agency was notified by OPM

of its full cost of pension expense and

was billed for part of it. The rest was

recorded as imputed cost/revenue.

Budgetary entry

4610 Allotments - Realized Resources 100 None None 100

4901 Expended Authority - Unpaid

Proprietary entries

6100 Operating/Prog Expenses - Nonexchange*

2110 Accounts Payable

5780 Imputed Financing Sources

- & -

3100 Unexpended Appropriations

5700 Appropriations Used

100 100

120 None None 120

100 100

 20 20

100 None None 100

100 100

* The expenses recorded in account 6100 - Operating/Program Expenses should be allocated between Exchange and

Nonexchange. In this transaction, they are designated “Nonexchange” so that it does not become overly complex.
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 26

Revenue Case Study - Trial Balances & Closing Entries 

Preclosing Trial Balance

Budgetary

4119 Other Appropriations Realized 3000 550 0 3550

4210 Anticipated Reimbursements & Other Income 250 0 0 250

4252 Reimbursements & Other Inc Earned-Coll’d 250 0 0 250

4590 Apportionments - Unavailable 250 0 0 250

4610 Allotments - Realized Resources 1700 0 0 1700

4901 Expended Authority - Unpaid 350 0 0 350

4902 Expended Authority - Paid 1200 550 0 1750

Proprietary

1010 Fund Balance With Treasury 2050 0 75 2125

1310 Accounts Receivable 0 0 1025 1025

1319 Allowance for Loss on Accts Rec 0 0 70 70

1750 Equipment 125 0 0 125

1759 Accumulated Depreciation on Equipment 55 0 0 55

2110 Accounts Payable 350 0 0 350

2220 Accrued Unfunded Liabilities - Unfunded 30 0 0 30

2980 Custodial Liability 0 0 1030 1030

3100 Unexpended Appropriations 1700 0 0 1700

5200 Revenue from Serv Provided 250 0 0 250

5310C Interest Revenue (Collected) 0 0 100 100

5320C Penalties and Fines Revenue (Coll) 0 0 1000 1000

5700 Appropriations Used 1300 550 0 1850

5720 Revenue Sources Transferred - In 800 0 0 800

5730 Revenue Sources Transferred - Out 800 0 0 800

5780 Imputed Financing Sources 20 0 0 20

5800C Tax Revenue (Collected) 0 0 15000 15000

5800R Tax Revenue (Receivable) 0 0 1000 1000

5809 Contra Revenue for Taxes 0 0 60 60

5890P Tax Revenue Refunds (Paid) 0 500 0 500

5900C Other Revenue (Collected) 0 0 275 275

5900R Other Revenue (Receivable) 0 0 25 25

5909 Contra Revenue for Other Revenue 0 0 10 10

5990U Collections For Others - Unpaid 0 0 1030 1030

5990P Collections For Others - Paid 0 0 16300 16300

6100 Operating/Program Expenses - Unfunded 30 0 0 30

6100 Operating/Program Expenses 1500 0 0 1500

6330 Other Interest Expenses 0 50 0 0 50 

3500 3500 550 550 4050 4050

(4119=4210+4252+ (4119=4902) (4119=4210+4252+

4590+4610+4901+ 4590+4610+4901+

4902) 4902)

4505 4505 550 550 18500 18500 23555 23555
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 27

Revenue Case Study - Trial Balances & Closing Entries 

Closing Entries:

Budgetary entries

4201 Total Actual Resources - Collected 3250 550 0 3800

 4119 Other Appropriations Realized 3000 550 0 3550

 4252 Reimbursements & Other Inc Earned-Collectd 250 0 0 250

 - & -

4590 Apportionments - Unavailable 250 0 0 250

4610 Allotments - Realized Resources 1700 0 0 1700

 4210 Anticipated Reimbursements & Other Income 250 0 0 250

 4650 Allotments - Expired Authority 1700 0 0 1700

 - & -

4902 Expended Authority - Paid 1200 550 0 1750

 4201 Total Actual Resources - Collected 1200 550 0 1750

Proprietary entries

5200 Rev from Services Provided) 250 0 0 250

5310C Interest Revenue (Collected) 0 0 100 100

5320C Penalties & Fines Rev (Collected ) 0 0 1000 1000

5700 Appropriations Used 1300 550 0 1850

5720 Revenue Sources Transferred In 800 0 0 800

5780 Imputed Financing Sources 20 0 0 20

5800C Tax Revenues (Collected) 0 0 15000 15000

5800R Tax Revenues (Receivable) 0 0 1000 1000

5900C Other Revenue (Collected) 0 0 275 275

5900R Other Revenue (Receivable) 0 0 25 25

 5730 Revenue Sources Transferred out 800 0 0 800

 5809 Contra Revenue for Taxes 0 0 60 60

 5890P Tax Revenue Refunds (Paid) 0 500 0 500

 5909 Contra Revenue for Other Revenue 0 0 10 10

 5990U Collections for Others-Unpaid 0 0 1030 1030

 5990P Collections for Others-Paid 0 0 16300 16300

 3310 Cumulative Results of Operations 1570 50 0 1620

- & -

3310 Cumulative Results of Operations 1530 50 0 1580

 6100 Operating/Program Expenses - Unfunded 30 0 0 30

 6100 Operating/Program Expenses 1500 0 0 1500

 6330 Other Interest Expenses 0 50 0 50
United States Government Standard General Ledger Position/Policy Statement

Transactions Agency Agency Totals

Collecting Custodial Activity Collecting

(Direct Funds) Refunds/ Duties

Drawbacks Collected

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 28

Revenue Case Study - Trial Balances & Closing Entries 

Post Closing Trial Balance

Budgetary

4201 Total Actual Resources - Collected 2050 0 0 2050

4650 Allotments - Expired Authority 1700 0 0 1700

4901 Expended Authority - Unpaid 350 0 0 350

Proprietary

1010 Fund Balance With Treasury 2050 0 75 2125

1310 Taxes Receivable 0 0 1025 1025

1319 Allowance for Loss on Accounts Receivable 0 0 70 70

1750 Equipment 125 0 0 125

1759 Accumulated Depreciation on Equipment 55 0 0 55

2110 Accounts Payable 350 0 0 350

2220 Annual Leave Liability 30 0 0 30

2980 Custodial Liability 0 0 1030 1030

3100 Unexpended Appropriations 1700 0 0 1700

3310 Cumulative Results of Operations 40 0 0 40

2050 2050 0 0 0 0 2050 2050

(4201=4650+4901) (4201=4650+4901)

2175 2175 0 0 1100 1100 3275 3275
United States Government Standard General Ledger Position/Policy Statement

THE STATEMENTS CONTAINED IN THIS CASE STUDY ARE ILLUSTRATIVE IN NATURE. STATEMENT FORMATS

ARE GENERALLY TAKEN FROM OMB CIRCULAR 97-01 (FORM AND CONTENT OF AGENCY FINANCIAL

STATEMENTS, DATED OCTOBER 16, 1997.) OMB HAS THE AUTHORITY TO SPECIFY THE FORM AND CONTENT

OF AGENCY FINANCIAL STATEMENTS, THEREFORE, THESE SAMPLE REPORTS ARE NOT INTENDED AS

AUTHORITATIVE. FURTHERMORE, THE REFERENCES TO ACCOUNT NUMBERS ON EACH LINE OF THESE

STATEMENTS ILLUSTRATE THE RESULT OF THE SPECIFIC TRANSACTIONS IN THIS CASE STUDY. THEY DO

NOT DEMONSTRATE ALL OF THE USSGL ACCOUNTS USED ON EACH LINE. REFER TO CROSSWALKS PUBLISHED

IN THE TREASURY FINANCIAL MANUAL (TFM) SUPPLEMENT #2 FOR OFFICIAL GUIDANCE.

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 29

Revenue Case Study - Illustrative Statements 

STATEMENT OF CUSTODIAL ACTIVITY

(Form & Content sample format)

Sources of Collections:

Cash collections:

Interest (5310) 100

Penalties and Fines (5320) 1,000

Tax Revenue [5800-5809-(1310[E-B] related to 5800)+

(1319[E-B]related to 5800)] 15,000

Other Revenue [5900-5909-(1310[E-B] related to 5900)+

 (1319[E-B]related to 5900)] 275

Less: Refunds and other payments (5890 + 6330) -550

Net Collections 15,825

Accrual Adjustment [1310(E-B) related to custodial

 revenues + 1319 (E-B) related to custodial revenues] 955

Total Revenues 16,780

Disposition of Collections:

Transferred to Others: (net of refunds & other payments)

Transferred to Treasury 

[5990 -(5890P + 6330 Custodial) - 2980 (E-B)] 15,750

Increase (decrease) in amounts to be transferred

[2980(E-B)] 1,030

Retained by Entity 0

Total disposition of revenue 16,780

Net Custodial Activity - 0 -
United States Government Standard General Ledger Position/Policy Statement

THE STATEMENTS CONTAINED IN THIS CASE STUDY ARE ILLUSTRATIVE IN NATURE. STATEMENT FORMATS

ARE GENERALLY TAKEN FROM OMB CIRCULAR 97-01 (FORM AND CONTENT OF AGENCY FINANCIAL

STATEMENTS, DATED OCTOBER 16, 1997.) OMB HAS THE AUTHORITY TO SPECIFY THE FORM AND CONTENT

OF AGENCY FINANCIAL STATEMENTS, THEREFORE, THESE SAMPLE REPORTS ARE NOT INTENDED AS

AUTHORITATIVE. FURTHERMORE, THE REFERENCES TO ACCOUNT NUMBERS ON EACH LINE OF THESE

STATEMENTS ILLUSTRATE THE RESULT OF THE SPECIFIC TRANSACTIONS IN THIS CASE STUDY. THEY DO

NOT DEMONSTRATE ALL OF THE USSGL ACCOUNTS USED ON EACH LINE. REFER TO CROSSWALKS PUBLISHED

IN THE TREASURY FINANCIAL MANUAL (TFM) SUPPLEMENT #2 FOR OFFICIAL GUIDANCE.

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 30

Revenue Case Study - Illustrative Statements 

STATEMENT OF CUSTODIAL ACTIVITY

(Treasury - IRS/Customs alternative)

Sources of Collections:

Cash collections:

Interest (5310) 100

Penalties and Fines (5320) 1,000

Tax Revenue [5800-5809-(1310[E-B] related to 5800)+

(1319[E-B] related to 5800)] 15,000

Other Revenue [5900-5909-(1310[E-B] related to 5900)+

(1319[E-B] related to 5900)] 275

Less: Refunds & other pmts (5890 + 6330) -550

Net Collections 15,825

Accrual Adjustment [1310(E-B) related to custodial

revenues + 1319 (E-B) related to custodial revenues] 955

Total Revenues 16,780

Disposition of Collections:

Transferred to Others:

Transferred to Treasury [5990 - 2980 (E-B)] 16,300

Increase (decrease) in amounts to be

 transferred [2980(E-B)] 1,030

Retained by Entity 0

Total Transfers Accounted For 17,330

Less: Appropriations for refunds and other

 payments (5890 + 6330) -550

Total disposition of revenue 16,780

Net Custodial Activity - 0 -
United States Government Standard General Ledger Position/Policy Statement

THE STATEMENTS CONTAINED IN THIS CASE STUDY ARE ILLUSTRATIVE IN NATURE. STATEMENT FORMATS

ARE GENERALLY TAKEN FROM OMB CIRCULAR 97-01 (FORM AND CONTENT OF AGENCY FINANCIAL

STATEMENTS, DATED OCTOBER 16, 1997.) OMB HAS THE AUTHORITY TO SPECIFY THE FORM AND CONTENT

OF AGENCY FINANCIAL STATEMENTS, THEREFORE, THESE SAMPLE REPORTS ARE NOT INTENDED AS

AUTHORITATIVE. FURTHERMORE, THE REFERENCES TO ACCOUNT NUMBERS ON EACH LINE OF THESE

STATEMENTS ILLUSTRATE THE RESULT OF THE SPECIFIC TRANSACTIONS IN THIS CASE STUDY. THEY DO

NOT DEMONSTRATE ALL OF THE USSGL ACCOUNTS USED ON EACH LINE. REFER TO CROSSWALKS PUBLISHED

IN THE TREASURY FINANCIAL MANUAL (TFM) SUPPLEMENT #2 FOR OFFICIAL GUIDANCE.

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 31

Revenue Case Study - Illustrative Statements 

STATEMENT OF NET COST

COSTS:

Crosscutting Programs

Program A:

Intragovernmental

Salaries and Benefits (6100) $ 105

Other Expenses (6100) 250

With the public 0

Total 355

Less Earned Revenue (5200) -250

Net Program Costs 105

Other Programs (Note XX)

Program B: (etc.) 0

Cost not assigned to programs (6100) 1,175

Less earned revenues not attributed to

programs 0

DEFERRED MAINTENANCE (Note X)

NET COST OF OPERATIONS $ 1,280
United States Government Standard General Ledger Position/Policy Statement

THE STATEMENTS CONTAINED IN THIS CASE STUDY ARE ILLUSTRATIVE IN NATURE. STATEMENT FORMATS

ARE GENERALLY TAKEN FROM OMB CIRCULAR 97-01 (FORM AND CONTENT OF AGENCY FINANCIAL

STATEMENTS, DATED OCTOBER 16, 1997.) OMB HAS THE AUTHORITY TO SPECIFY THE FORM AND CONTENT

OF AGENCY FINANCIAL STATEMENTS, THEREFORE, THESE SAMPLE REPORTS ARE NOT INTENDED AS

AUTHORITATIVE. FURTHERMORE, THE REFERENCES TO ACCOUNT NUMBERS ON EACH LINE OF THESE

STATEMENTS ILLUSTRATE THE RESULT OF THE SPECIFIC TRANSACTIONS IN THIS CASE STUDY. THEY DO

NOT DEMONSTRATE ALL OF THE USSGL ACCOUNTS USED ON EACH LINE. REFER TO CROSSWALKS PUBLISHED

IN THE TREASURY FINANCIAL MANUAL (TFM) SUPPLEMENT #2 FOR OFFICIAL GUIDANCE.

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 32

Revenue Case Study - Illustrative Statements 

STATEMENT OF CHANGES IN NET POSITION

Net Cost of Operations (-) 1,280

Financing Sources (other than exchange

revenues):

Appropriations Used (5700) 1,300

Imputed Financing (5780) 20

Financing Sources Transferred In (5720) -800

Financing Sources Transferred Out (5730) 800

Net Results of Operations 40

Prior Period Adjustments (7400) 0

Net Change in Cumulative Results of

Operations 40

Increase (Decrease) in Unexpended

Appropriations (3100 E-B) 1,700

Change in Net Position 1,740

Net Position - Beginning of Period

[3100 (B) + 3310 (B)] 0

Net Position - End of Period

[Also = 3100 (E) + 3310 (E)] 1,740
United States Government Standard General Ledger Position/Policy Statement

THE STATEMENTS CONTAINED IN THIS CASE STUDY ARE ILLUSTRATIVE IN NATURE. STATEMENT FORMATS

ARE GENERALLY TAKEN FROM OMB CIRCULAR 97-01 (FORM AND CONTENT OF AGENCY FINANCIAL

STATEMENTS, DATED OCTOBER 16, 1997.) OMB HAS THE AUTHORITY TO SPECIFY THE FORM AND CONTENT

OF AGENCY FINANCIAL STATEMENTS, THEREFORE, THESE SAMPLE REPORTS ARE NOT INTENDED AS

AUTHORITATIVE. FURTHERMORE, THE REFERENCES TO ACCOUNT NUMBERS ON EACH LINE OF THESE

STATEMENTS ILLUSTRATE THE RESULT OF THE SPECIFIC TRANSACTIONS IN THIS CASE STUDY. THEY DO

NOT DEMONSTRATE ALL OF THE USSGL ACCOUNTS USED ON EACH LINE. REFER TO CROSSWALKS PUBLISHED

IN THE TREASURY FINANCIAL MANUAL (TFM) SUPPLEMENT #2 FOR OFFICIAL GUIDANCE.

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 33

Revenue Case Study - Illustrative Statements 

BALANCE SHEET

ASSETS

Entity Assets:

Intragovernmental

Fund Balance with Treasury (1010) $ 2,050

Governmental

Equipment (1750 - 1759) 70

Total Entity Assets 2,120

Non-Entity Assets:

Intragovernmental

Fund Balance with Treasury (1010) 75

Governmental

Accounts Receivable (1310 - 1319) 955

Total Non-entity Assets 1,030

TOTAL ASSETS $ 3,150

LIABILITIES

Liabilities Covered by Budgetary Resources:

Intragovernmental liabilities:

Accounts Payable (2110) $ 350

Ttl liab covered by budg resourc. 350

Liabilities not Covered by Budgetary Resources:

Intragovernmental

Annual Leave Liability (2220) 30

Custodial Liability (2980) 1,030

Ttl liab not covered by budg res. 1,060

Total Liabilities 1,410

NET POSITION

Unexpended Appropriations (3100) $ 1,700

Cum. Results of Operations (3310) 40

Total Net Position 1,740

TOTAL LIABILITIES AND NET POSITION $ 3,150
United States Government Standard General Ledger Position/Policy Statement

THE STATEMENTS CONTAINED IN THIS CASE STUDY ARE ILLUSTRATIVE IN NATURE. STATEMENT FORMATS

ARE GENERALLY TAKEN FROM OMB CIRCULAR 97-01 (FORM AND CONTENT OF AGENCY FINANCIAL

STATEMENTS, DATED OCTOBER 16, 1997.) OMB HAS THE AUTHORITY TO SPECIFY THE FORM AND CONTENT

OF AGENCY FINANCIAL STATEMENTS, THEREFORE, THESE SAMPLE REPORTS ARE NOT INTENDED AS

AUTHORITATIVE. FURTHERMORE, THE REFERENCES TO ACCOUNT NUMBERS ON EACH LINE OF THESE

STATEMENTS ILLUSTRATE THE RESULT OF THE SPECIFIC TRANSACTIONS IN THIS CASE STUDY. THEY DO

NOT DEMONSTRATE ALL OF THE USSGL ACCOUNTS USED ON EACH LINE. REFER TO CROSSWALKS PUBLISHED

IN THE TREASURY FINANCIAL MANUAL (TFM) SUPPLEMENT #2 FOR OFFICIAL GUIDANCE.

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 34

Revenue Case Study - Illustrative Statements 

STATEMENT OF BUDGETARY RESOURCES

Budgetary Resources:

Budget authority [4119(E)] $ 3,550

Spending authority from offsetting

collections [4252(E)] 250

Total budgetary resources $ 3,800

Status of Budgetary Resources:

Obligations incurred [4901(E-B)+4902(E)] $ 2,100

Unobligated balances-available [4610(E)] 1,700

Total, status of budgetary resources $ 3,800

Outlays:

Obligations incurred [4901(E-B)+4902(E)] $ 2,100

Less:

Spending authority from offsetting

collections and adjustments [4252(E)] 250

Obligated balance net - beginning of

period 0

Obligated balance transferred, net 0

Less: obligated balance, net - end of

period [4901(E)] 350

Total outlays 1,500
United States Government Standard General Ledger Position/Policy Statement

THE STATEMENTS CONTAINED IN THIS CASE STUDY ARE ILLUSTRATIVE IN NATURE. STATEMENT FORMATS

ARE GENERALLY TAKEN FROM OMB CIRCULAR 97-01 (FORM AND CONTENT OF AGENCY FINANCIAL

STATEMENTS, DATED OCTOBER 16, 1997.) OMB HAS THE AUTHORITY TO SPECIFY THE FORM AND CONTENT

OF AGENCY FINANCIAL STATEMENTS, THEREFORE, THESE SAMPLE REPORTS ARE NOT INTENDED AS

AUTHORITATIVE. FURTHERMORE, THE REFERENCES TO ACCOUNT NUMBERS ON EACH LINE OF THESE

STATEMENTS ILLUSTRATE THE RESULT OF THE SPECIFIC TRANSACTIONS IN THIS CASE STUDY. THEY DO

NOT DEMONSTRATE ALL OF THE USSGL ACCOUNTS USED ON EACH LINE. REFER TO CROSSWALKS PUBLISHED

IN THE TREASURY FINANCIAL MANUAL (TFM) SUPPLEMENT #2 FOR OFFICIAL GUIDANCE.

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 35

Revenue Case Study - Illustrative Statements 

STATEMENT OF FINANCING

Obligations and Nonbudgetary Resources:

Obligations incurred [4901 (E-B) + 4902(E)] $ 2,100

Less: Spending authority for offsetting

collections and adjustments [4252(E)] -250

Donations not in the entity's budget 0

Financing imputed for cost subsidies [5780(E)] 20

Transfers-in (out) [5720 (E) - 5730(E)] 0

Exchange revenue not in the entity's

budget 0

Other: (Refunds of Tax Revenues and other payments)

(5890+6330) -550

Total Obligations as adjusted, and

nonbudgetary resources $ 1,320

Resources That Do Not Fund Net Cost of Operations:

Change in amount of goods, services, and

benefits ordered but not yet received or

provided 0

Costs capitalized on the balance sheet [1750(E-B)] -125

Total resources that do not fund net cost of operations -125

Costs That Do Not Require Resources:

Depreciation and amortization [6100 - Depreciation] 55

Total costs that do not require resources 55

Financing Sources Yet to be Provided:

Increases in Unused Annual Leave & Actuarial Liability 

[2220 (E-B) If Net Increase] 30

Net Cost of Operations 1,280
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 36

Proposed New Accounts and Definitions 

SECTION III
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 37

Proposed New Accounts and Definitions 

Account Title: Custodial Liability

Account Number: 2980

Normal Balance: Credit

Type of Account: Posting

Definition: The amount of custodial revenue yet to be transferred

to another Federal entity.

Account Title: Contra Revenue for Goods Sold

Account Number: 5109

Normal Balance: Debit

Type of Account: Posting

Definition: The amount reflecting a reduction in revenue for goods

sold when collection of amounts of revenue accrued is not expected. 

Amounts recorded are based on adjustments, returns, allowances, price

redeterminations, and refunds other than taxes where revenue is

earned, but does not include credit losses.

Account Title: Contra Revenue for Services Provided

Account Number: 5209

Normal Balance: Debit

Type of Account: Posting

Definition: The amount reflecting a reduction in revenue for

services provided when collection of amounts of revenue accrued is not

expected. Amounts recorded are based on abatements, adjustments,

returns, allowances, price redeterminations, and refunds other than

taxes where revenue is earned, but does not include credit losses.
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 38

Proposed New Accounts and Definitions 

Account Title: Interest Revenue

Account Number: 5310

Normal Balance: Credit

Type of Account: Posting

Definition: Revenue earned from interest. The amount is exchange

revenue by definition with one exception - Interest on Treasury

securities held by trust funds and special funds (except trust

revolving funds).

Account Title: Contra Revenue for Interest

Account Number: 5319

Normal Balance: Debit

Type of Account: Posting

Definition: The amount reflecting a reduction in revenue for

interest accrued when realization is not expected. Amounts recorded

are based on adjustments, returns, allowances, or price redeterminations.

Account Title: Penalties and Fines Revenue

Account Number: 5320

Normal Balance: Credit

Type of Account: Posting

Definition: Nonexchange revenue earned from penalties and fines.

Account Title: Contra Revenue for Penalties and Fines

Account Number: 5329

Normal Balance: Debit

Type of Account: Posting

Definition: The amount reflecting a reduction in revenue for

penalties and fines when realization is not expected. Amounts

recorded are based on adjustments, returns, allowances, or price redeterminations. Credit losses on penalties and fines revenue are also

recorded in this account.
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 39

Proposed New Accounts and Definitions 

Account Title: Contra Revenue for Benefit Program Revenue

Account Number: 5409

Normal Balance: Debit

Type of Account: Posting

Definition: The amount reflecting a reduction in revenue for a

benefit program based on adjustments as stipulated by law and does not

include credit losses.

Account Title: Contra Revenue for Insurance and Guarantee Premium

Revenue

Account Number: 5509

Normal Balance: Debit

Type of Account: Posting

Definition: The amount reflecting a reduction in revenue for an

insurance and guarantee premium based on adjustments stipulated by law

and does not include credit losses.

Account Title: Contra Revenue for Donations

Account Number: 5609

Normal Balance: Debit

Type of Account: Posting

Definition: The amount reflecting a reduction in revenue for

donations returned.

Account Title: Financing Sources Transferred In Without

Reimbursement

Account Number: 5720

Normal Balance: Credit

Type of Account: Posting

Definition: The amount determined to increase the financing source

of a reporting entity which occurs as a result of an asset being

transferred in. The amount of the asset is recorded at book value of

the transferring entity.
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 40

Proposed New Accounts and Definitions 

Account Title: Financing Sources Transferred Out Without

Reimbursement

Account Number: 5730

Normal Balance: Debit

Type of Account: Posting

Definition: The amount determined to decrease the financing source

of a reporting entity which occurs as a result of an asset being

transferred out. The amount of the asset is recorded at book value as

of the transfer date.

Account Title: Imputed Financing Sources

Account Number: 5780

Normal Balance: Credit

Type of Account: Posting

Definition: This account is used by the receiving entity to record

the portion of cost incurred by the providing entity for goods and

services received at less than full cost. This account is used to

record financing sources (as opposed to revenues earned for provision

of goods and services) not provided for in other accounts.

Account Title: Contra Revenue for Taxes

Account Number: 5809

Normal Balance: Debit

Type of Account: Posting

Definition: The amount reflecting a reduction in revenue for taxes

when realization is not expected. Amounts recorded are based on

abatements, adjustments, returns, allowances, and credit losses.

Account Title: Tax Revenue Refunds

Account Number: 5890

Normal Balance: Debit

Type of Account: Posting

Definition: The amount of tax revenue refunds that are payable or

have been paid.
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 41

Proposed New Accounts and Definitions 

Account Title: Contra Revenue for Other Revenue

Account Number: 5909

Normal Balance: Debit

Type of Account: Posting

Definition: The amount reflecting a reduction in revenue received

(but not otherwise classified above) when realization is not expected. 

Amounts recorded are based on adjustments, returns, allowances, price

redetermination, and refunds other than taxes where revenue is earned. 

Credit losses on other nonexchange revenue are also recorded in this

account.
United States Government Standard General Ledger Position/Policy Statement

Effective on October 1, 1997 FASAB Standard Implementation for Revenue (SFFAS #7) Page 42

Proposed Account Title and Definition Changes 

Account Title: Appropriated Capital Unexpended Appropriations

Account Number: 3100

Normal Balance: Credit

Type of Account: Posting

Definition: Amounts appropriated by Congress which have not been

expended.

Account Title: Appropriat ionsed Capital Used

Account Number: 5700

Normal Balance: Credit

Type of Account: Posting

Definition: The amount of current period expended appropriations. 

This account is a financing source to be matched against current

period expenses funded by appropriations. This includes expenses

funded by prior-year appropriations, such as (1) depreciation of fixed

assets and consumption of inventory related to prior-year purchases of

fixed assets and inventory, (2) accrued and actual losses on inventory

writedowns, and (3) bad debt expenses related to capitalized long-term

loans receivable and related interest.

Account Title: Contra Revenue Collect edions for Others

Account Number: 5990

Normal Balance: Debit

Type of Account: Posting

Definition: Amounts collected by a reporting entity on behalf of

another Federal entity. This account is used in conjunction with

revenue accrued by an agency when amounts collected must be deposited

to Treasury. It is used to establish a corresponding liability to

Treasury and is reported as a deduction from revenue on the agency's

operating statement.