# U.S. GOVERNMENT STANDARD GENERAL LEDGER (USSGL)

**VOTING BALLOT #15-01**

The USSGL staff presented Voting Ballot #15-01 at the May 7, 2015, USSGL IRC meeting.  Please indicate the agency’s vote by marking “yes” or “no” on the voting ballot for each proposal to revise the USSGL. Provide a detailed justification for all “no” votes. Fax page 1 and any attachments containing comments or justifications for negative votes to 202-874-7232 or vote via Survey Monkey. The Survey Monkey link will be provided to the voting USSGL IRC board members.  Fiscal Service must receive the agency’s votes by close of business May 28, 2015.

Revisions: 

**Fiscal Year 2015**

**ADD:CHANGE:**

320700  Pg. 2 Yes____  No____579100 Pg. 3   Yes___  No____

**DELETE:                                          NON-TECHNICAL CHANGE**(DOES NOT REQUIRE A VOTE):

**Fiscal Year 2016**

**ADD:CHANGE:**

113500 Pg. 4 Yes____  No____113000  Pg. 5 Yes____  No____

214200 Pg. 4 Yes____  No____135100  Pg. 5Yes____  No____

214100  Pg. 5 Yes____  No____251100  Pg. 6 Yes____  No____

619000  Pg. 6 Yes____  No____

750000  Pg. 6 Yes____  No____

**DELETE:**

**NON-TECHNICAL CHANGE**(DOES NOT REQUIRE A VOTE ****

Name: ______________________________________________

Agency: _____________________________________________

Date: _____________________________

**THE FOLLOWING PROPOSED USSGL ACCOUNTS WILL BE EFFECTIVE FOR FISCAL 2015 REPORTING.**

**PROPOSED CHANGES TO CURRENT USSGL ACCOUNT FOR FISCAL 2015**

**Current Account Title:** Adjustment to Financing Sources – Downward Reestimate or Negative Subsidy

**Proposed Account Title:****Adjustment to Financing Sources - Credit Reform**

**Account Number:**     579100

**Normal Balance:**      Debit

**Definition:**The amount of adjustment to financing sources for a downward reestimate of subsidy expense, **~~or~~** negative subsidy,**or for modification adjustment transfer (MAT).** Record as a debit in the credit reform program account to offset the negative (credit) subsidy expense**or gain**. Record as a credit in the credit reform financing account to offset the debit to the loan guarantee liability or direct loan allowance for subsidy.

**Justification:** To be consistent with the way all costs are in the program fund, the Modification Adjustment Transfer should also be in the program fund.  Therefore, the title should be updated and the definition needs to include the modification adjustment transfer.  This change/issue was raised at the April 2, 2015 IRC Meeting.

**THE FOLLOWING PROPOSED USSGL ACCOUNTS WILL BE EFFECTIVE FOR FISCAL 2016 REPORTING.**

**PROPOSED USSGL ACCOUNTS**

**Account Title:** Funds Held Outside of Treasury – Non-Budgetary

**Account Number**: 113500

**Normal Balance:** Debit

**Definition:** The amount of **cash deposited in accounts outside of the U.S. Treasury, in non-Treasury General Accounts (non-TGAs)**held by the public that the Office of Management and Budget has determined will not be included in the Budget of the United States Government. This account does not close at yearend.

**Justification:**During the initial reporting periods where agencies started using the Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS) it was discovered that agencies that had Funds Held Outside of Treasury (FHOT) that are non-budgetary didn’t have a USSGL account that they were able to use so that they can record their FHOT non-budgetary in order to pass GTAS edit 5 - Funds Held Outside of Treasury Business Line Balances.

**Account Title:**           Accrued Interest Payable - Debt 

**Account Numbe**r:     214200 

**Normal Balance:**      Credit 

**Definition:** The amount of interest accrued and owed to agencies that is the result of securities issued by the Bureau of the Fiscal Service, Federal Financing Bank and agencies with authority to issue securities. This account does not close at yearend. 

**Justification:**Under the current environment accrued interest payable by federal agencies on borrowings and accrued interest payable by Bureau of Fiscal Service on agency investments fall under the same reciprocal category (RC 02) with no distinction between the two.  The accrued interest payable by agencies on borrowings is comingled with accrued interest payable on investments by Treasury and FFB creating an Intragovernmental reporting issue.   The creation of this new USSGL and the renaming of USSGL 214100 will enable these two unique accrued interest payables to be reported separately.

**PROPOSED CHANGES TO CURRENT USSGL ACCOUNTS FOR FISCAL 2016**

**Current Account Title:**Funds Held by the Public 

**Proposed Account Title:**Funds Held **~~by the Public~~Outside of Treasury** - Budgetary

**Account Number:**113000

**Normal Balance:**Debit

**Definition:**The amount of **~~funds held by the public~~****cash deposited in accounts outside of the U.S. Treasury, in non-Treasury General Accounts (non-TGAs)**that the Office of Management and Budget has determined will be included in the Budget of the United States Government: Appendix.  This account does not close at year end. 

**Justification:**Due to the addition of USSGL account 113500 Funds Outside of Treasury – Non-Budgetary an update to the account title of USSGL account 113000 is necessary.  

**Account Title:**          Capitalized Loan Interest Receivable - Non-Credit Reform 

**Account Number:**     135100 

**Normal Balance:**      Debit 

**Definition:**                 The amount of accrued interest due on a non-credit reform loan that has been capitalized. Capitalized interest, like loan principal, is subject to interest charges until such time as the debt is paid or otherwise settled**.****Also used to record the related receivable resulting from the accretion of the original issue discount for Black Lung Disability Trust Fund Obligations.**  This account does not close at yearend. 

**Justification:**Update definition to clarify its use for the Black Lung Disability Trust Fund Obligations

**Proposed Account Title:**Accrued Interest Payable **– ~~Debt~~ Loans**

**Account Number:**214100 

**Normal Balance:**Credit 

**Proposed Definition:**The amount of interest accrued and owed to others that is the result of loans**~~and securities~~**issued under general and special financing authority**.  This does not include accrued interest payable on ~~, including~~**securities issued by the Bureau of the Fiscal Service**,****Federal Financing Bank and agencies with authority to issue securities, which should be reported in USSGL account 214200.**  This account does not close at yearend.

**Justification:**

Under the current environment accrued interest payable by federal agencies on borrowings and accrued interest payable by Bureau of Fiscal Service on agency investments fall under the same reciprocal category (RC 02) with no distinction between the two.  The accrued interest payable by agencies on borrowings is commingled with accrued interest payable on investments by Treasury and FFB creating an Intragovernmental reporting issue.   The creation of this new USSGL and the renaming of USSGL 214100 will enable these two unique accrued interest payables to be reported separately.

**Account Title:**         Capitalized Loan Interest Payable - Non-Credit Reform 

**Account Number:**    251100 

**Normal Balance:**       Credit 

**Definition:** The amount of accrued interest owed on a non-credit reform loan that has been capitalized. Capitalized interest, like loan principal, is subject to interest charges until such time as the debt is paid or otherwise settled**. Also used to record the related payable resulting from the accretion of the original issue discount for Black Lung Disability Trust Fund Obligations.** This account does not close at yearend. 

**Justification:**Update definition to clarify its use for the Black Lung Disability Trust Fund Obligations

**Account Title:**           Contra Bad Debt Expense - Incurred for Others 

**Account Number:**     619000 

**Normal Balance:**       Credit 

**Definition:** The amount of bad debt expense related to accounts receivable held for others.  **~~When recording amounts related to General Fund of the Treasury, use Federal/Non-Federal Code attribute domain value “G” and Transaction Partner Agency Identifier attribute domain value “099”.  For all other amounts, use the appropriate attribute domain values.~~**

**Justification:** Removing specific Federal/Non-Federal Code attribute domain value use instructions from the definition. Users can find specific instructions related to this Attribute in the TFM 2-4700

**Account Title:**           Distribution of Income - Dividend 

**Account Number:**     750000 

**Normal Balance:**       Debit 

**Definition:**Distribution of income **such as interest on capital and franchise taxes. ~~(such as certain types of income transferred to the General Fund of the Treasury, that is, interest on capital, franchise taxes, etc.).  Use Federal/Non-Federal Code attribute domain value “G” and Transaction Partner Agency Identifier attribute domain value “099” For all other amounts, use the appropriate attribute domain values.~~**

**Justification:** Removing specific Federal/Non-Federal Code attribute domain value use instructions from the definition. Users can find specific instructions related to this Attribute in the TFM 2-4700.

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Board Ballot May 14, 2015

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Board Ballot                                                                                                     May 14, 2015