**Revised 8/23/02**

**Scenario -  Memorandum Accounts for Current-year Asset Activity – Purchases**

The purpose of this scenario is to illustrate the use of memorandum USSGL accounts that track current-year purchases of assets. Agencies will use this information to complete FACTS I Note 24.

**USSGL Account TitleUSSGL Account Number**

Asset Activity Summary 8801 

Purchases - Assets – Fed/Non-Fed        8802

1. The ordering Federal entity receives an appropriation warrant and SF132 Apportionment Schedule for an annual appropriation of $50,000.  The ordering entity head allots funds and records the change in status.  The performing entity anticipates $25,000 in reimbursable activity and receives an approved SF132 Apportionment Schedule apportioning the total $25,000.  

(Section III Transactions A104, A116 and A120)

2. The ordering entity issues an order to the performing entity for $12,000 of goods and does not provide an advance.  

(Section III Transactions B204, A304 and A122.)

3. The performing entity orders inventory for resale from a non-Federal vendor and incurs obligations of $12,000.  

(Section III, transaction B204.)

4. The performing entity accepts delivery of goods for resale.  

(Section III, transaction B304.)

5. The performing entity delivers goods to the ordering entity and invoices for $12,000. 

(Section III, transactions B304, B134, A310 and E212.) E212 might not be the new transaction code when the consolidation is completed.

**ADJUSTING ENTRIES**

6.  The performing entity posts adjustments for anticipated orders that were not realized.  

(Section III, transaction F112.)

# PRE-CLOSING ADJUSTED TRIAL BALANCE

Government-wide Pre-Closing ATB

### Fiscal Service will compare the following in the eliminations process.

### Revenue = Expenses plus purchases

Treasury – USSGL **8801 (F47) Purchases – Assets** 12,000

GSA – USSGL 5100 (20) Revenue from Goods Sold      (12,000)

*Difference*0

CLOSING ENTRIES

7. To record the consolidation of net-funded resources.  

(Section III, transaction F204.)

8. To record the closing of unobligated balances to expiring authority.  

(Section III, transaction F212.)

9. To record the closing of revenue, expense and other financing sources to cumulative results of operations. 

(Section III, transaction F228.)

10. To record the closing of fiscal year activity that increases unexpended appropriations. 

(Section III, transaction F233.)

11. To record the closing of memorandum accounts.

(Section III, transaction F255.)

# POST-CLOSING ADJUSTED TRIAL BALANCE

###### Reporting Entity

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

As of September 30, 20xx

**ORDERINGPERFORMING**

Column 5 (1010E) 50,0000

Column 7(4251F)  12,000

Column 10(4901)12,000 12,000

Column 11 (calc)=(4650E)  38,000  0

Reporting Entity

**CONSOLIDATED BALANCE SHEET**

As of September 30, 20xx

Assets:**TREASURYGSA**

Intragovernmental:

1. Fund Balance with Treasury (1010E) 50,0000

3. Accounts receivable (1310 F20)12,000

_____________________

6. Total Intragovernmental   50,000 12,000

13. General property, plant and equipment 12,000_____

15. Total Assets62,00012,000

Liabilities:

Intragovernmental

16. Accounts Payable (2110 F47)12,000

19. Total intragovernmental_____00

20. Accounts Payable(2110 N)12,000

27. Total liabilities12,000 12,000

Net Position:

29. Unexpended Appropriations (3100E) 38,000 0

30. Cumulative results of operations (3310E) 12,000          0

31. Total net position 50,000       0

8.  Total Liabilities and Net Position 62,00012,000

Reporting Entity

**CONSOLIDATED STATEMENT OF NET COST**

For the year ended September 30, 20xx

**TREASURYGSA**

Program Costs

Program A

Intra-Governmental Gross Costs

1. Intragovernmental (6100) 0

2. Less Intra-Governmental Earned Revenues (5100 F20)0(12,000)

3. Intra-Governmental Net Costs   (calc)0  (12,000)

Gross Costs with the Public

4. With the Public (6500 N)       12,000

5. Less:  Earned Revenues            00

6. Net Costs with the Public            0       12,000

7. Total Net Costs (calc)            0             0

8. Costs Not Assigned to Programs

9. Less:  Earned Revenues Not Attributed to Programs

            10. Net Cost of Operations            0             0

##### Reporting Entity

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

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

**TREASURYGSA**

Cumulative ResultsUnexpendedCumulative ResultsUnexpended

Of Operations             Appropriations      of OperationsAppropriations

1. Beginning Balances (3100B, 3310B)0000

2. Prior period adjustments

3. Beginning balances, as adjusted0000

Budgetary Financing Sources:

4. Appropriations received (3101)  50,000

7. Appropriations used (5700) (3107)      12,000(12,000)

8. Non-exchange revenue

16. Total Financing Sources     12,000  38,0000

17. Net Cost of Operations          0  00

18. Ending Balances (3100E)     12,000  38,000

Reporting Entity

**COMBINED STATEMENT OF BUDGETARY RESOURCES**

For the year ended, September 30, 20xx

**TREASURY****GSA**

Non-BudgetaryNon-Budgetary

BudgetaryFinancing AcctsBudgetaryFinancing Accts

Budgetary Resources:

1. Budget authority 

1a. Appropriations received  (4119E)50,000

3. Spending authority from offsetting collections

3a. Earned

1. Collected  

2. Receivable from Federal sources (4251 E)12,000

______________________

7. Total Budgetary Resources50,00012,000

Status of Budgetary Resources:

8. Obligations Incurred 

8a. Direct  (4901E)12,000

8b. Reimbursable (4901E)12,000

8c. Subtotal12,00012,000

9. Unobligated balance:

9a. Apportioned  (4610E)38,000

_______________________________________

11. Total Status of Budgetary Resources50,00012,000

12. Obligated balance, net - beg of period 00

13. Obligated balance transferred, net 

14. Obligated balance, net - end of period:

14a. Accounts receivable

14b. Unfilled customer orders from Federal sources

14c. Undelivered Orders

14d. Accounts Payable 

15.Outlays:

15a.Disbursements   (4902E)00

15b.Collections (4252E)0

15c. Subtotal00

16. Less:  Offsetting receipts00

17. Net Outlays00

Reporting Entity

**CONSOLIDATED STATEMENT OF FINANCING**

For the year ended, September 30, 20xx

**TREASURY****GSA**

*Resources Used to Finance Activities:*

Budgetary Resources Obligated

1. Obligations incurred (4901E)12,00012,000

2. Less: Spending authority from offsetting collections and recoveries (4251E)12,000

3. Obligations net of offsetting collections and recoveries12,0000

4. Less: Offsetting receipts_

5. Net obligations12,0000

____

11. *Total resources used to finance activities12,000 0*

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

15. Resources that finance the acquisition of assets or

liquidation of liabilities (8802) 12,000

16. Other resources or adjustments to net obligated resources that do not

affect net cost of operations ______00

17. *Total resources used to finance items not part of the net cost of operations12,0000*

18. *Total resources used to finance the net cost of operations00*

*_____________________________________*

30. *Net Cost of Operations*00

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