General Fund Receipt (GFR) Account Guide

1 8/22/2007

General Fund Receipt 

(GFR)

Account Guide
General Fund Receipt (GFR) Account Guide

Section I - Background

2 8/22/2007

Section/Subsection

No.

Section /Subsection Title Page 

No.

Section I Background 3

1A Definition of General Fund Receipt (GFR) Account 3

1B Purpose 3

1C Overview: Federal Account Symbols (FAS), Treasury Account Symbols (TAS), and 

Collections

4

1D GFR Account Categories in the FAST Book 5

1E GFR Account Reporting Responsibility 7

1F Identifying and Reporting Custodial Collections 7

1G Flowchart – GFR Collections to Collecting Agency’s Financial Statements 9

1H Chart – Impact on Collecting Entity’s Financial Statements by various Types of 

Collections

10

1I USSGL Accounts Used in the GFR Account Guide 11

Section II USSGL Changes: Proposed Additions and Changes to the USSGL Accounts 13

II A Proposed New Accounts for GFR Activity 14

II B Proposed Changes to the Current USSGL Accounts for General Fund Receipt Activity 17

II C USSGL Crosswalk for GFR Related Accounts - Current and Proposed 19

Section III Custodial Statement Collections 20

III A Scenario 1 – Collection of Non-exchange Revenue - Tax Revenue 21

III B Scenario 2 – Collection of Non-exchange Revenue – Fines and Penalties 31

Section IV Non-Custodial Statement Collections for Others 40

IV A Scenario 3 - Collection of Exchange Revenue with Related Costs 41

IV B Scenario 4 - Collection of Receivables From Canceled Authority 58

IV C Scenario 5 - Collection of Proceeds From Disposition of Personal Property 80

IV D Scenario 6 - Collection of Downward Reestimate of Subsidy Expense 98

IV E Scenario 7 - Seigniorage 133

Appendix A Miscellaneous Receipt Law 154

Appendix B Relevant Citations from the Federal Accounting Standards Advisory Board 

(FASAB) Standards and Other Sources

156
General Fund Receipt (GFR) Account Guide

Section I - Background

3 8/22/2007

Section I. Background

A. 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)

B. Purpose

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

Guidance previously issued on this topic by the Bureau of the Fiscal Service (Fiscal Service), United States Standard 

General Ledger (USSGL) Division, addresses collections reported on the Statement of Custodial Activity (SCA). This 

proposal incorporates the concepts presented in the previous guidance and also includes new guidance for those GFR 

accounts that are not reported on the SCA.

Currently, GFR account activity is not consistently reported by the collecting entities of the Federal Government. In some 

circumstances, the revenue for GFR accounts is not reported in agency financial statements, nor is it reported to the 

Department of Treasury for the compilation of the Financial Report of the United States Government (FR). These

reporting deficiencies are contributing to the existing out-of balance condition in the FR.

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. 

This guidance also illustrates how the GFR activities are reported on the specific financial statements and, if appropriate, 

certain Treasury reports such as the USSGl 2108: Year-End Closing Statement. Also, there are seven new proposed 

USSGL accounts and three modified USSGL accounts included in this document. Details are provided in Section II of this 

document. 
General Fund Receipt (GFR) Account Guide

Section I - Background

4 8/22/2007

This guidance is intended to improve the quality of the financial data presented in agency financial statements and in the 

FR. The USSGL Division welcomes any comments or suggestions.

C. Overview: 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. The FAS are divided into the following classifications:

• General fund receipt accounts and general fund expenditure accounts;

• Revolving fund expenditure accounts;

• Special fund receipt accounts and special fund expenditure accounts;

• Deposit fund expenditure accounts; And

• Trust fund receipt accounts and trust fund expenditure accounts.

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 charge 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.”
General Fund Receipt (GFR) Account Guide

Section I - Background

5 8/22/2007

D. 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 upon. 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 Consists of income taxes, Social Security taxes, railroad retirement taxes, miscellaneous 

internal revenue collection, and miscellaneous axes.

Nonexchange, SFFAS No. 7, par. 2, 5, 30, 

48, 49

0300 – Custom duties Includes Duties on imports, received under U.S Customs laws. Nonexchange, SFFAS No. 7, par. 2, 5, 30, 

48, 49

0400 – Gains resulting from Government 

participation

Includes proceeds resulting form the exercise of warrants or the sale of security holding of 

the Government, when authorized in law.

Exchange, SFFAS No. 7, par. 18, 33, 294

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. 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 for registration of individuals, 

firms, or products; and fees for filing or reproducing of documents.

Exchange, SFFAS No. 7, par. 282, 283

1000 – Fines and penalties 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, 260

1100 – Restitutions, reparations, and 

recoveries under military occupation

Consists of indemnities and compensation resulting from destruction of Government property 

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

areas for occupation costs.

If exchange – SFFAS 7, par 18,33 

If nonexchange – SFFAS 7, par 5, 43 

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, 280, 281

Nonexchange, SFFAS No. 7, par. 157, 281

Predominant source, SFFAS No. 7, par. 36d, 

156 

1600 – Dividends and other earnings Includes receipts from current or accumulated earnings of Government-owned or sponsored 

corporations or enterprises; dividends or other income from non-governmental enterprises; 

premiums on sale, and discounts on purchase of securities; gains from exchange of 

currency; and increments resulting from other financial transactions

Exchange, SFFAS No. 7, par. 272
General Fund Receipt (GFR) Account Guide

Section I - Background

6 8/22/2007

FAS Description of Types of GFR Accounts Types of Collections and 

Relevant FASAB Reference

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, 272, 

274

2000 – Royalties Monies 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, 274

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, 294, 354

2400 – Fees and other charges for services 

and special benefits

Monies 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

2700 – 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

2800-2900 – Realization upon loans and 

investments

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

the Government of monies 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 monies paid to, but not due, the recipient; compensation for loss of or damage 

to property; and other recoveries and refunds. This may include collection of receivable that 

has been previously canceled.

If exchange – 18,33

If nonexchange – 5, 43

If other financing source- 70

 1 See FAS 2467–Reimbursement by Postal Service for Unemployment Benefits, and FAS 2480—Tariff Filing Fees, Department of Transportation
General Fund Receipt (GFR) Account Guide

Section I - Background

7 8/22/2007

E. 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 2-digit department code to the beginning of the TAS for 

classifying the receipt to Treasury. A collecting entity typically reports all GFR TAS beginning with its 2-digit agency 

department code within its entity financial statements. 

F. 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 and 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

. 

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:

 2 See SFFAC No. 2, paragraph 101. 3 SFFAC No. 2, paragraph 103.
General Fund Receipt (GFR) Account Guide

Section I - Background

8 8/22/2007

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

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.

 4 See SFFAS No. 7, paragraph 45.
General Fund Receipt (GFR) Account Guide

Section I - Background

9 8/22/2007

G. 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 & 2 – Non-exchange Revenue
General Fund Receipt (GFR) Account Guide

Section I - Background

10 8/22/2007

H. 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 15)

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. 
General Fund Receipt (GFR) Account Guide

Section I - Background

11 8/22/2007

I. USSGL Accounts Used in the GFR Account Guide

The following USSGL accounts used in this Guide are from June 2007 TFM (TFM Release S2-07-02)

Account Number Account Name

Budgetary

4060 Anticipated Collections From Non-Federal Sources

4070 Anticipated Collections From Federal Sources

4115 Loan Subsidy Appropriation

4119 Other Appropriations Realized

4201 Total Actual Resources - Collected

4221 Unfilled Customer Orders Without Advance

4251 Reimbursements and Other Income Earned - Receivable

4266 Other Actual Business - Type Collections from Non-Federal Sources

4271 Actual Program Fund Subsidy Collected

4590 Apportionments – Anticipated Resources – Programs Subject to Apportionment 

4610 Allotments-Realized Resources

4650 Allotments – Expired Authority

4902 Delivered Orders – Obligations, Paid

Proprietary

1010 Fund Balance With Treasury (NE)

1310 Accounts Receivable

1325 Taxes Receivable

1329 Allowances for Losses on Taxes Receivable

1340 Interest Receivable

1350 Loans Receivable

1360 Penalties, Fines, and Administrative Fees Receivable

1369 Allowance for Loss on Penalties, Fines, and Administrative Fees Receivable

1399 Allowance for Subsidy

1525 Inventory – Raw Materials

1526 Inventory – Work in Process

1527 Inventory – Finished Goods

1750 Equipment

1759 Accumulated Depreciation on Equipment

2180 Loan Guarantee Liability
General Fund Receipt (GFR) Account Guide

Section I - Background

12 8/22/2007

2980 Custodial Liability

2985 Liability for Non-Entity Assets Not Reported on the Statement of Custodial Activity

2990 Other Liabilities Without Related Budgetary Obligations

3100 Unexpended Appropriation

3101 Unexpended Appropriations – Appropriations Received

3107 Unexpended Appropriations - Used

3310 Cumulative Results of Operations

5100 Revenues From Goods Sold

5200 Revenues From Services Provided

5320 Penalties, Fines, and Administrative Fees Revenue

5329 Contra Revenue for Penalties, Fines, and Administrative Fees

5700 Expended Appropriations 

5775 Nonbudgetary Financing Sources Transferred In 

5776 Nonbudgetary Financing Sources Transferred Out 

5791 Adjustments to Financing Sources - Reestimate

5795 Seigniorage

5800 Tax Revenue Collected

5801 Tax Revenue Accrual Adjustment

5809 Contra Revenue for Taxes

5900 Other Revenue

5990 Collections for Others – Statement of Custodial Activity

5991 Accrued Collections for Others – Statement of Custodial Activity

5993 Offset to Non-Entity Collections - Statement of Changes in Net Position

5994 Offset to Non-Entity Accrued Collections - Statement of Changes in Net Position

6100 Operating Expenses/Program Costs

6199 Adjustment to Subsidy Expense

6500 Cost of Goods Sold

6610 Cost Capitalization Offset

6800 Future Funded Expenses

7110 Gains on Disposition of Assets – Other

7220 Losses on Disposition of Assets – Other

8801 Offset for Purchases of Assets

8803 Purchases of Inventory and Related Properties
General Fund Receipt (GFR) Account Guide

Section II – USSGL Changes

13 8/22/2007

Section II

USSGL Changes:

Proposed Additions 

and 

Changes to the

USSGL Accounts
General Fund Receipt (GFR) Account Guide

Section II – USSGL Changes

14 8/22/2007

IIA. Proposed New Accounts for GFR Activity

Account Title: Liability for Non-Entity Assets Not Reported on the Statement of Custodial Activity

Account Number: 2985

Normal Balance: Credit

Definition: The amount of non-entity assets held in a General Fund receipt account or other Treasury Account Symbol for transfer 

to other entities. This account excludes amounts defined in FASAB SFFAS No. 7, paragraphs 45 and 49. For amounts collected or to 

be collected on behalf of the General Fund of the Treasury, that are not reported on the Statement of Custodial Activity or in a 

custodial footnote, use FACTS I attribute domain values Federal “F” and transaction partner “99.” This USSGL account is included on 

the USSGL crosswalk for the Balance Sheet, but it is not included on the USSGL crosswalk for the Statement of Custodial Activity or 

in the custodial footnote.

Justification: This account is one of three USSGL accounts proposed to segregate the accounting for collections for others not reported 

on the Statement of Custodial Activity (SCA) or custodial footnote (CF) from those that are reported on the SCA or CF. The other two 

accounts are contra-revenue accounts to offset accrued revenue and collected revenue.

Account Title: Nonbudgetary Financing Sources Transferred In

Account Number: 5775

Normal Balance: Credit

Definition: The amount of financing sources transferred in or to be transferred in to an account such as a General Fund receipt 

account or a clearing account. The transfer has no budgetary impact. This USSGL account is on the USSGL crosswalk for the 

Statement of Changes in Net Position, but it is not included on the USSGL crosswalk for the Statement of Custodial Activity or in the 

custodial footnote.

Justification: To record fund balance transferred in without affecting the budget. 
General Fund Receipt (GFR) Account Guide

Section II – USSGL Changes

15 8/22/2007

Account Title: Nonbudgetary Financing Sources Transferred Out

Account Number: 5776

Normal Balance: Debit 

Definition: The amount of financing sources transferred out or to be transferred out to an account such as a General Fund receipt 

account or a clearing account. The transfer has no budgetary impact. This USSGL account is on the USSGL crosswalk for the 

Statement of Changes in Net Position, but it is not included on the USSGL crosswalk for the Statement of Custodial Activity or in the 

custodial footnote.

Justification: To record fund balance transferred out without affecting the budget. 

Account Title: Adjustment to Financing Sources - Downward Reestimate

Account Number: 5791

Normal Balance: Debit 

Definition: The amount of adjustment to financing sources for a downward reestimate of subsidy expense. Record as a debit in the 

credit reform program account to offset the adjustment to subsidy expense and as a credit for an equal amount in the credit reform 

financing account to adjust the loan guarantee liability or direct loan allowance for subsidy. The original subsidy expense is recorded 

in the program fund therefore; both the program and financing funds are adjusted to reflect the downward reestimate of subsidy. 

Justification: To record an adjustment of downward reestimate of subsidy expense and loan guarantee liability without 

affecting the fund balance and the budget balance. 

Account Title: Seigniorage

Account Number: 5795

Normal Balance: Credit

Definition: This amount represents the increase in the net position of the Federal Government for the face value of newly minted 

coins less the cost of production, which includes the cost of metal, manufacturing, and transportation. Seigniorage results from the 

sovereign power of the Government to directly create money and, although it is not an inflow of resources from the public, it does 

increase the Government’s net position in the same manner as an inflow of resources. It is not demanded, earned, or donated; 
General Fund Receipt (GFR) Account Guide

Section II – USSGL Changes

16 8/22/2007

therefore, it is recognized as a financing source rather than revenue. An example is coins delivered to a Federal Reserve Bank in 

return for deposits. The account is used only by the United States Mint. 

Justification: To record seigniorage in a General Fund receipt account. 

 

Account Title: Offset to Non-Entity Collections - Statement of Changes in Net Position 

Account Number: 5993

Normal Balance: Debit

Definition: The offset to amounts collected for another entity. For amounts collected on behalf of the General Fund of the Treasury, 

use FACTS I attribute domain values Federal “F” and transaction partner “99.” For all other amounts, use the appropriate attribute 

domain value. This USSGL account is included on the USSGL crosswalk for the Statement of Changes in Net Position, but it is not 

included on the USSGL crosswalk for the Statement of Custodial Activity or in the custodial footnote. 

Justification: This account is one of three USSGL accounts proposed to segregate the accounting for collections for others not reported 

on the Statement of Custodial Activity (SCA) or custodial footnote (CF) from those that are reported on the SCA or CF. The other two 

accounts include a liability to offset the non-entity assets and a contra-revenue to offset the accrued revenue.

Account Title: Offset to Non-Entity Accrued Collections - Statement of Changes in Net

Position 

Account Number: 5994

Normal Balance: Debit

Definition: The offset to amounts to be collected for another entity. For amounts to be collected on behalf of the General Fund of the

Treasury, use FACTS I attribute domain values Federal “F” and transaction partner “99.” For all other amounts, use the appropriate 

attribute domain value. This USSGL account is included on the USSGL crosswalk for the Statement of Changes in Net Position, but 

it is not included on the USSGL crosswalk for the Statement of Custodial Activity or in the custodial footnote. 

Justification: This account is one of three USSGL accounts proposed to segregate the accounting for collections for others not reported 

on the Statement of Custodial Activity (SCA) or custodial footnote (CF) from those that are reported on the SCA or CF. The other two 

accounts include a liability to offset the non-entity assets and a contra-revenue to offset the collected revenue.
General Fund Receipt (GFR) Account Guide

Section II – USSGL Changes

17 8/22/2007

IIB. Proposed Changes to the Current USSGL Accounts for General Fund Receipt Activity

Account Title: Custodial Liability

Account Number: 2980

Normal Balance: Credit

Definition: The amount of custodial revenue (as defined by FASAB SFFAS No. 7, paragraphs 45 and 49) yet to be transferred to 

another entity. For amounts collected or to be collected on behalf of the General Fund of the Treasury use FACTS I attribute 

domain values Federal “F” and transaction partner “99.” For all other amounts, use the appropriate attribute domain value. 

This USSGL account is included on the USSGL crosswalk for the Statement of Custodial Activity or in the custodial 

footnote. 

Justification: To make the definition more specific so that the preparer will know that this account is used only for activity 

related to preparing the Statement of Custodial Activity or a custodial footnote. 

Current Account Title: Collections for Others

Proposed Account Title: Collections for Others - Statement of Custodial Activity

Account Number: 5990

Normal Balance: Debit

Definition: Amounts Custodial revenue collected by a reporting entity on behalf of for another entity. For amounts collected on 

behalf of the General Fund of the Treasury, use FACTS I attribute domain values Federal “F” and transaction partner “99.” For all 

other amounts, use the appropriate FACTS I attribute domain values. This USSGL account is included on the USSGL crosswalk 

for the Statement of Custodial Activity or in the custodial footnote.

Justification: To make the definition more specific so that the preparer will know that this account is used only for activity 

related to preparing the Statement of Custodial Activity or in the custodial footnote. 
General Fund Receipt (GFR) Account Guide

Section II – USSGL Changes

18 8/22/2007

Current Account Title: Accrued Collections for Others

Proposed Account Title: Accrued Collections for Others – Statement of Custodial Activity

Account Number: 5991

Normal Balance: Debit

Definition: Amounts Custodial revenue to be collected by a reporting entity on behalf of for another entity. For amounts to be 

collected on behalf of the General Fund of the Treasury, use FACTS I attribute domain values Federal “F” and transaction partner 

“99.” For all other amounts, use the appropriate FACTS I attribute domain values. This USSGL account is included on the USSGL 

crosswalk for Statement of Custodial Activity or in the custodial footnote.

Justification: To make the definition more specific so that the preparer will know that this account is used only for activity 

related to preparing the Statement of Custodial Activity or in the custodial footnote. 
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 1 - Collection of Nonexchange Revenue 

19 8/22/2007

IIC. USSGL Crosswalk for GFR Related Accounts - Current and Proposed

USSGL Crosswalk for GFR Related Accounts

Current and Proposed

USSGL

Account

Number

USSGL Account Title

Balance

Sheet

Statement 

of

Net Cost

Statement of

Changes in Net 

Position

Statement 

of

Custodial

Activity

Statement 

of

Financing 

Statement 

of

Budgetary

Resources

Current

2980 Custodial Liability Line 19 

(NE)

N/A N/A Lines

11, 12

N/A N/A

5990 Collections for Others - Statement of 

Custodial Activity

Line 33 N/A N/A Line11 N/A N/A

5991 Accrued Collections for Others -

Statement of Custodial Activity

Line 33 N/A N/A Line12 N/A N/A

Proposed Additions

2985 Liability for Non-Entity Assets Not Reported on 

the Statement of Custodial Activity

Line 19 N/A N/A N/A N/A N/A

5775 Non Budgetary Financing Sources –

Transferred In

Line 33 N/A Line 11 N/A Lines 7,16 N/A

5776 Non Budgetary Financing Sources –

Transferred Out

Line 33 N/A Line 11 N/A Lines 7,16 N/A

5791 Adjustment to Financing Sources -

Reestimate

Line 33 N/A Line 13 N/A Lines 9, 16 N/A

5795 Seigniorage Line 33 N/A Line 13 N/A Lines 9, 16 N/A

5993 Offset to Non-Entity Collection – Statement 

of Changes in Net Position

Line 33 N/A Line 13 N/A Lines 9, 16 N/A

5994 Offset to Non-Entity Accrued Collection –

Statement of Changes in Net Position

Line 33 N/A Line 13 N/A Lines 9, 16 N/A
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 1 - Collection of Nonexchange Revenue 

20 8/22/2007

Custodial Statement

Collections
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 1 - Collection of Nonexchange Revenue 

21 8/22/2007

GFR Account Scenario 1

Custodial Statement Collections:

Collection of Nonexchange 

Revenue - Taxes

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.
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 1 - Collection of Nonexchange Revenue 

22 8/22/2007

Year 1 – 1st Quarter

GFR Account (20 0101) General Fund

of Treasury G/L

1. To collect tax revenue from the public. Budgetary

None

Proprietary (TC: C141, C142)

1010 Fund Balance With Treasury6 1,000

5800(N7

) Tax Revenue Collected

1,000

5990(F99) Collections for Others– Statement of Custodial 

Activity 1,000

2980(F99) Custodial Liability 1,000

Budgetary

None

Proprietary

Cash 1,000

 Liability for Agency Fund 

Balance 1,000

GFR Account Preclosing Trial Balance

Budgetary DR CR

None

Proprietary DR CR

1010 Fund Balance With Treasury 1,000

2980(F99) Custodial Liability 1,000

5800N Tax Revenue Collected 1,000

5990(F99) Collections for Others 1,000

 Total 2,000 2,000

 6 Although USSGL account 1010 is deposited in the General Fund of the Treasury, the collecting agency still has to carry the balances of USSGL accounts 1010 and 2985 

on its quarterly Balance Sheet. Treasury’s STAR system does not sweep USSGL account 1010 until the year end. The agency should make a note of this as a reconciling 

item. 7 Nonexchange revenue collected from outside of the government for the benefit of the General Fund of the Treasury is recorded as “N” revenue. The “N” designates the 

source of the revenue. Once the funds become part of the General Fund of the Treasury (see Proposed Treasury Central General Ledger column), the source is no longer 

relevant and all dispositions and offsets are considered “F”.
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario I - Collection of Nonexchange Revenue 

23 8/22/2007

CONSOLIDATED BALANCE SHEET

As of 1st Quarter, December 31, Year 1

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 1,000

 6. Total intragovernmental

 

15. Total assets 1,000

Liabilities:

 Intragovernmental:

19. Other (2980E) 1,000 

28. Total liabilities 1,000

Net Position:

33. Cumulative results of operations – other funds(3310B, 5800E, 5990E) 0

34. Total net position 0____

35. Total liabilities and net position 1,000
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario I - Collection of Nonexchange Revenue 

24 8/22/2007

Year 1 – 4th Quarter

Description GFR Account (20 0101) General Fund

of Treasury G/L

1. To collect tax revenue from the public. Budgetary

None

Proprietary ( TC: C141, C142)

1010 Fund Balance With Treasury 6,000

5800(N8

) Tax Revenue Collected

6,000

5990(F99) Collections for Others– Statement of Custodial 

Activity 6,000

2980(F99) Custodial Liability 6,000

Budgetary

None

Proprietary

Cash 6,000

 Liability for Agency Fund 

Balance 6,000

2. To record accrual of nonexchange revenue at the 

end of the year. (See SFFAS No. 7, Para. 53-55)

Note: Currently, the IRS records changes in net taxes 

receivable at the end of the year.

Budgetary

None

Proprietary (TC: C402, C404)

1325N Taxes Receivable 3,000

5801(N) Tax Revenue Accrual Adjustment 3,000

5991(F99) Accrued Collections for Others– Statement of 

Custodial Activity 3,000

2980(F99) Custodial Liability 3,000

Budgetary

None

Proprietary

None

3. To accrue uncollectible amounts. (See SFFAS No.

7, Para. 56)

Budgetary

None

Proprietary (TC: D424, C404R)

5809(N) Contra Revenue for Taxes 1,200

1329(N) Allowance for Loss on Taxes Receivable 1,200

2980(F99) Custodial Liability 1,200

5991(F99) Accrued Collections for Others– Statement of 

Budgetary

None

Proprietary

None

 8 Nonexchange revenue collected from outside of the Government for the benefit of the General Fund of the Treasury is recorded as “N” revenue. The “N” designates the source of the revenue. 

Once the funds become part of the General Fund of the Treasury (see Proposed Treasury Central General Ledger column), the source is no longer relevant and all dispositions and offsets are 

considered “F”. 
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario I - Collection of Nonexchange Revenue 

25 8/22/2007

Custodial Activity 1,200

Year 1- Preclosing Trial Balance

GFR Account

DR CR

Budgetary

None

Proprietary

1010 Fund Balance With Treasury 7,000

1325(N) Taxes Receivable 3,000

1329(N) Allowance for Loss on Taxes Receivable 1,200

2980(F99) Custodial Liability 8,800

5800(N) Tax Revenue Collected 7,000

5801(N) Tax Revenue Accrual Adjustment 3,000

5809(N) Contra Revenue for Taxes 1,200

5990(F99) Collections for Others – Statement of Custodial Activity 7,000

5991(F99) Accrued Collections for Others – Statement of Custodial Activity 1,800

 Total 20,000 20,000
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario I - Collection of Nonexchange Revenue 

26 8/22/2007

Year 1 - Preclosing Adjusting Entry

Description GFR Account (20 0101) General Fund

of Treasury G/L

To record the closing of FBWT collected in a General 

Fund receipt account at the end of the year. 

Budgetary

None

Proprietary (TC: F124)

2980(F99) Custodial Liability 7,000

1010 Fund Balance With Treasury9 7,000

Budgetary

None

Proprietary

Liability for Agency Fund 

Balance 7,000

 Transferred-In of Equity for 

General Fund 7,000

 9 There will be a timing difference between when agencies record this adjusting entry and when Treasury sweeps the fund balance in the GFR account at the end of a fiscal year.
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 1 - Collection of Nonexchange Revenue –Tax Revenue

27 8/22/2007

Year 1 - Preclosing Adjusted Trial Balance

GFR Account

DR CR

Budgetary

None

Proprietary

1010 Fund Balance With Treasury 0

1325(N) Taxes Receivable 3,000

1329(N) Allowance for Loss on Taxes Receivable 1,200

2980(F99) Custodial Liability 1,800

5800(N) Tax Revenue Collected 7,000

5801(N) Tax Revenue Accrual Adjustment 3,000

5809(N) Contra Revenue for Taxes 1,200

5990(F99) Collections for Others – Statement of Custodial Activity 7,000

5991(F99) Accrued Collections for Others – Statement of Custodial Activity 1,800

 Total 13,000 13,000
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 1 - Collection of Nonexchange Revenue –Tax Revenue

28 8/22/2007

CONSOLIDATED BALANCE SHEET

As of September 30, Year 1

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 0

 6. Total intragovernmental

Assets with Public

 10. Taxes receivable, net (1325E, 1329E) 1,800 

15. Total assets 1,800

Liabilities:

 Intragovernmental:

19. Other (2980E) 1,800 

27. Other 0____ 

28. Total liabilities 1,800

Net Position:

33. Cumulative results of operations – other funds (3310B, 5800E, 5801E, 5809E, 5990E, 5991E) 0

34. Total net position 0____

35. Total liabilities and net position 1,800
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 1 - Collection of Nonexchange Revenue –Tax Revenue

29 8/22/2007

STATEMENT OF CUSTODIAL ACTIVITY

For the Year ended September 30, Year 1

Revenue Activity:

 Sources of Cash Collections:

1. Individual Income and FICA/SECA Taxes (5800E) 7,000

 8. Total Cash Collections (CALC 1...7) 7,000

 9. Accrual Adjustments (5801E, 5809E) 1,800

10. Total Custodial Revenue (CALC 8+10) 8,800

Disposition of Collections

 11. Transferred to Others (by Recipient) (5990E) 7,000

 12. (Increase)/Decrease in Amounts Yet to be Transferred (5991E) 1,800

 13. Refunds and Other Payments 0

 14. Retained by the Reporting Entity 0

 15. Net Custodial Activity (CALC +10-11-12-13-14) 0 

OMB Circular No. A-136, Financial Reporting Requirements, Section II.4.10.40 – Note 40 Custodial Revenues 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 footnotes 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 Financing, Statement of Changes in Net Position, and the Budget 

Program and Financing Schedule are not applicable in this scenario.
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 1 - Collection of Nonexchange Revenue –Tax Revenue

30 8/22/2007

CLOSING ENTRIES:

C1) To record the closing of revenue, expense, 

and other financing source accounts to 

cumulative results of operations. 

Budgetary Entry

None

Proprietary Entry (TC:F336)

3310 Cumulative Results of Operations 10,000

5809(N) Contra Revenue for Taxes 1,200

5990(F99) Collections for Others– Statement of Custodial Activity 7,000

5991(F99) Accrued Collections for Others– Statement of Custodial Activity 1,800

5800(N) Tax Revenue Collected 7,000

5801(N) Tax Revenue Accrual Adjustment 3,000 

3310 Cumulative Results of Operations 10,000

Post-Closing Trial Balance

Budgetary DR CR

None

Proprietary DR CR

1010 Fund Balance With Treasury 0

1325(N) Taxes Receivable 3,000

1329(N) Allowance for Loss on Taxes Receivable 1,200

2980(F99) Custodial Liability 1,800

3310 Cumulative Results of Operations 0

 Total 3,000 3,000
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 2 - Collection of Nonexchange Revenue –Fines and Penalties 

31 8/22/2007

GFR Account Scenario 2

Custodial Statement Collections:

Collection of Nonexchange 

Revenue – Fines and Penalties 

This scenario 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.
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 2 - Collection of Nonexchange Revenue –Fines and Penalties 

32 8/22/2007

Year 1 – 1st Quarter

GFR Account (XX 1000) General Fund

of Treasury G/L

1. To record fine and penalties due from the public. Budgetary

None

Proprietary (TC: C402, C404)

1360(N) Penalties, Fines, and Administrative Fees Receivable 700

5320N Penalties, Fines, and Administrative 

Fees Revenue 700

5991(F99) Accrued Collections for Others – Statement of 

Custodial Activity 700

2980(F99) Custodial Liability 700

Budgetary

None

Proprietary

None

GFR Account Preclosing Trial Balance

Budgetary DR CR

None

Proprietary DR CR

136(N) Penalties, Fines, and Administrative Fees Receivable 700

2980(F99) Custodial Liability 700

5320(N) Penalties, Fines, and Administrative Fees Revenue 700

5991(F99) Accrued Collections for Others – Statement of Custodial Activity 700

 Total 1,400 1,400
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 2 - Collection of Nonexchange Revenue – Fines and Penalties

33 8/22/2007

CONSOLIDATED BALANCE SHEET

As of 1st Quarter, December 31, Year 1

Assets:

 Intragovernmental:

 6. Total intragovernmental

 Asset with Public

 9. Accounts Receivable (1360E) 700 

15. Total assets 700

Liabilities:

 Intragovernmental:

19. Other (2980E) 700 

28. Total liabilities 700

Net Position:

33. Cumulative results of operations – other funds (3310B, 5320E, 5991E) 0

34. Total net position 0____

35. Total liabilities and net position 700
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 2 - Collection of Nonexchange Revenue – Fines and Penalties

34 8/22/2007

Year 1 – 4th Quarter

Description GFR Account (XX 1000) General Fund

of Treasury G/L

1. To record penalties collected from the receivable 

previously recorded. 

Budgetary

None

Proprietary ( TC: C143, D584)

1010 Fund Balance With Treasury 600

1360(N) Penalties, Fines, and Administrative 

Fees Receivable

600

5990(F99) Collections for Others – Statement of 

Custodial Activity 600

5991(F99) Accrued Collections for Others – Statement of 

Custodial Activity 600

Budgetary

None

Proprietary

Cash 600

 Liability for Agency Fund 

Balance 600

2. To record uncollectible amounts. Budgetary

None

Proprietary (TC: D424, C404R)

5329(N) Contra Revenues for Penalties, Fines, and 

Administrative Fees 100

1369(N) Allowance for Loss on Penalties, Fines, and 

Administrative Fees Receivable 100

2980(F99) Custodial Liability 100

5991(F99) Accrued Collections for Others – Statement of 

Custodial Activity 100

Budgetary

None

Proprietary

None
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 2 - Collection of Nonexchange Revenue – Fines and Penalties

35 8/22/2007

Year 1- Preclosing Trial Balance

GFR Account

DR CR

Budgetary

None

Proprietary

1010 Fund Balance With Treasury 600

1360(N) Penalties, Fines, and Administrative Fees Receivable 100

1369(N) Allowance for Loss on Penalties, Fines, and Administrative Fees Receivable 100

2980(F99) Custodial Liability 600

5320(N) Penalties, Fines, and Administrative Fees Revenue 700

5329(N) Contra Revenue for Penalties, Fines, and Administrative Fees 100

5990(F99) Collections for Others– Statement of Custodial Activity 600

5991(F99) Accrued Collections for Others– Statement of Custodial Activity 0

 Total 1,400 1,400

Year 1- Preclosing Adjusting Entry

Description GFR Account (20 0101) General Fund

of Treasury G/L

To record the closing of FBWT collected in a General 

Fund receipt account at the end of the year. 

Budgetary

None

Proprietary (TC: F124)

2980(F99) Custodial Liability 600

1010 Fund Balance With Treasury10 600

Budgetary

None

Proprietary

Liability for Agency Fund 

Balance 600

 Transferred In of Equity for 

General Fund 600

 10 There will be a timing difference between when agencies record this adjusting entry and when Treasury sweeps the fund balance in the GFR account at the end of a fiscal year.
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 2 - Collection of Nonexchange Revenue – Fines and Penalties 

36 8/22/2007

Year 1- Preclosing Adjusted Trial Balance

GFR Account

DR CR

Budgetary

None

Proprietary

1010 Fund Balance With Treasury 0

1360(N) Penalties, Fines, and Administrative Fees Receivable 100

1369(N) Allowance for Loss on Penalties, Fines, and Administrative Fees Receivable 100

2980(F99) Custodial Liability 0

5320(N) Penalties, Fines, and Administrative Fees Revenue 700

5329(N) Contra Revenue for Penalties, Fines, and Administrative Fees 100

5990(F99) Collections for Others – Statement of Custodial Activity 600

5991(F99) Accrued Collections for Others – Statement of Custodial Activity 0

 Total 800 800
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 2 - Collection of Nonexchange Revenue – Fines and Penalties 

37 8/22/2007

CONSOLIDATED BALANCE SHEET

As of September 30, Year 1

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 0

 6. Total intragovernmental

Assets with Public

 9. Accounts receivable, net (1360E, 1369E) 0 

15. Total assets 0

Liabilities:

 Intragovernmental:

19. Other (2980E) 0 

27. Other 0____ 

28. Total liabilities 0

Net Position:

33. Cumulative results of operations – other funds (3310B, 5320E, 5329E, 5990E, 5991E) 0

34. Total net position 0____

35. Total liabilities and net position 0
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 2 - Collection of Nonexchange Revenue – Fines and Penalties 

38 8/22/2007

STATEMENT OF CUSTODIAL ACTIVITY

For the Year ended September 30, Year 1

Revenue Activity:

 Sources of Cash Collections:

7. Miscellaneous (5320E, 5329E) 600

 8. Total Cash Collections (CALC 1..7) 600

 9. Accrual Adjustments (1360E-B, 1369E-B) 0__

10. Total Custodial Revenue (CALC 8+10) 600

Disposition of Collections

 11. Transferred to Others (by Recipient) (5990E) 600

 12. (Increase)/Decrease in Amounts Yet to be Transferred (5991E) 0

 13. Refunds and Other Payments 0

 14. Retained by the Reporting Entity 0__

 15. Net Custodial Activity (CALC +10-11-12-13-14) 0 

OMB Circular No. A-136, Financial Reporting Requirements, Section II.4.10.40 – Note 40 Custodial Revenues 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 footnotes 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 Financing, Statement of Changes in Net Position, and the Budget 

Program and Financing Schedule are not applicable in this scenario.
General Fund Receipt (GFR) Account Guide

Section III - Custodial Statement Collections

Scenario 2 - Collection of Nonexchange Revenue – Fines and Penalties 

39 8/22/2007

Closing Entires:

C1) To record the closing of revenue, expense, 

and other financing source accounts to 

cumulative results of operations. 

Budgetary Entry

None

Proprietary Entry (TC: F336)

3310 Cumulative Results of Operations 700

5329(N) Contra Revenue Penalties, Fines, and Administrative Fees 100

5990(F99) Collections for Others– Statement of Custodial Activity 600

5320(N) Penalties, Fines, and Administrative Revenue 700

3310 Cumulative Results of Operations 700

Post-Closing Trial Balance

Budgetary DR CR

None

Proprietary DR CR

1010 Fund Balance With Treasury 0

1360(N) Penalties, Fines, and Administrative Fees Receivable 100

1369(N) Allowance for Loss on Penalties, Fines, and Administrative Fees Receivable 100

2980(F99) Custodial Liability 0

3310 Cumulative Results of Operations 0

 Total 100 100
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

40 8/22/2007

Non-Custodial Statement Collections

for Others
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related costs

41 8/22/2007

GFR Account 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 a 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. 
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related costs

42 8/22/2007

Year 1 – 1st Quarter

Description Program Fund

(19x0113)

GFR Account

(19 0830)

General Fund

of Treasury G/L

1. To record appropriation, 

apportionment, and allotment. 

TC’s A104, A116, and A120.

Budgetary (TC: A104, A116, A120)

4119 Other Appropriations Realized 450

 4450 Unapportioned Authority 450

4450 Unapportioned Authority 450

 4510 Apportionments 450

4510 Apportionments 450

 4610 Allotments-Realized Resources 450

Proprietary (A104) 

1010 Fund Balance With Treasury 450

 3101 Unexpended Appropriations –

Appropriations Received 450

Budgetary

None

Proprietary 

None

Budgetary

None

Proprietary 

None

2. To record passport fees

collected from the public. 

Budgetary

None

Proprietary 

None

Budgetary

None

Proprietary (TC: C145, C147)

1010 Fund Balance With Treasury11 120

 5200(N) Revenue from Services Provided 120

5993(F99) Offset to Non-Entity Collection – Statement of 

Changes in Net Position 120

2985(F99) Liability for Non-Entity Assets Not 

Reported on the Statement of Custodial Activity 120

Budgetary

None

Proprietary 

Cash 120

 Liability for Agency

Fund Balance 120

3. To record cost incurred for 

the services provided. 

Budgetary (TC: B107)

4610 Allotments – Realized Resources 100

4902 Delivered Orders – Obligations, Paid 100

Proprietary (TC: B107, B134) 

6100(N) Operating Expenses 100

 1010 Fund Balance With Treasury 100

3107 Unexpended Appropriations –

Appropriations Used 100

 5700 Expended Appropriations 100

Budgetary

None

Proprietary 

None

Budgetary

None

Proprietary 

None

 11 Although USSGL account 1010 is deposited in the General Fund of the Treasury, the collecting agency still has to carry the balances of USSGL account 1010 and 2985 on its

quarterly Balance Sheet. Treasury’s STAR system does not sweep USSGL account 1010 until the yearend. The agency should make a note of this as a reconciling item. 
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related costs

43 8/22/2007

Year 1 – 1st Quarter 

Preclosing Trial Balance Program Fund GFR Account

Budgetary DR CR DR CR

4119 Other Appropriations Realized 450

4610 Allotments – Realized Resources 350

4902 Delivered Orders – Obligations, Paid 100

Totals 450 450 0 0

Proprietary

1010 Fund Balance With Treasury 350 120

2985(F99) Liability for Non-Entity Assets Not Reported on the Statement of Custodial 

Activity

120

3101 Unexpended Appropriations – Appropriations Received 450

3107 Unexpended Appropriation – Appropriations Used 100

5700 Expended Appropriations 100

5200(N) Revenue From Services Provided 120

5993(F99) Offset to Non-Entity Collection – Statement of Changes in Net Position 120

6100(N) Operating Expenses/Program Costs 100

Totals 550 550 240 240
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related costs

44 8/22/2007

STATEMENT OF BUDGETARY RESOURCES

For the 1st Quarter ended December 31, Year 1

BUDGETARY RESOURCES 

 1. Unobligated balance, brought forward, Oct 1, 0

 2. Recoveries of prior-year unpaid obligations

 3. Budget authority

A1. Appropriations (4119E) 450

 

7. Total Budgetary Resources 450

STATUS OF BUDGETARY RESOURCES

8. Obligations incurred, direct (4902E) 100

9. Unobligated balance, currently available (4610E) 350 

11. Total Status of Budgetary Resources 450

CHANGE IN OBLIGATED BALANCE

12. Obligated balance, net, beginning of period 0

13. Obligations incurred 100

14. Less: Gross outlays 100

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period 0

NET OF OUTLAYS

19. Outlays 

A. Gross outlays (4902E) 100

D. Net outlays 100
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 - Collection of Exchange Revenue with Related Costs

45 8/22/2007

CONSOLIDATED BALANCE SHEET

As of 1st Quarter, December 31, Year 1

Assets 

 Intragovernmental:

1. Fund balance with Treasury (1010E) 470

 6. Total intragovernmental 470

 15. Total assets 470

Liabilities

 Intragovernmental:

19. Other (2985E) 120 

28. Total liabilities 120

Net Position:

31. Unexpended appropriation – other funds (3100B, 3101E, 3107E) 350

33. Cumulative results of operations – other funds (3310B, 5200E, 5700E, 5993E, 6100E) 0

34. Total net position 350

35. Total Liabilities and Net Position 470
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 - Collection of Exchange Revenue with Related Costs

46 8/22/2007

CONSOLIDATED STATEMENT OF NET COST

For the 1st Quarter ended December 31, Year 1

Program Costs:

Program A:

 1. Gross Costs (6100E) 100

 3. Net Program Costs 0

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs (5200E) 120 

6. Net cost of operations (20)
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 - Collection of Exchange Revenue with Related Costs

47 8/22/2007

Year 1 – 4th Quarter

Description Program Fund

(19x0113)

GFR Account

(19 0830)

General Fund

of Treasury G/L

1. To record passport fees 

collected from the public. 

Budgetary

None

Proprietary 

None

Budgetary

None

Proprietary (TC: C145, C147) 

1010 Fund Balance With Treasury 250

 5200(N) Revenue From Services Provided 250

5993(F99) Offset to Non-Entity Collection – Statement of 

Changes in Net Position 250

2985(F99) Liability for Non-Entity Assets Not Reported on 

the Statement of Custodial Activity 250

Budgetary

None

Proprietary 

Cash 250

 Liability for Agency

Fund Balance 250

2. To record cost incurred for 

the services provided. 

Budgetary (TC: B107)

4610 Allotments – Realized Resources 200

 4902 Delivered Orders – Obligations, Paid 200

Proprietary (TC: B107, B134) 

6100(N) Operating Expenses 200

 1010 Fund Balance With Treasury 200

3107 Unexpended Appropriations –

Appropriations Used 200

 5700 Expended Appropriations 200

Budgetary

None

Proprietary 

None

Budgetary

None

Proprietary 

None
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 - Collection of Exchange Revenue with Related Costs

48 8/22/2007

Year 1 – 4th Quarter Preclosing Trial Balance

Program Fund

(19X0113)

GFR Account

(19 0830)

Budgetary DR CR DR CR

4119 Other Appropriations Realized 450

4610 Allotments – Realized Resources 150

4902 Delivered Orders – Obligations, Paid 300

Totals 450 450 0 0

Proprietary

1010 Fund Balance With Treasury (NE) 150 370

2985(F99) Liability for Non-Entity Assets Not Reported on the Statement of Custodial 

Activity

370

3100 Unexpended Appropriations 0

3101 Unexpended Appropriations - Appropriations Received 450

3107 Unexpended Appropriations – Appropriations Used 300

3310 Cumulative Results of Operations 0

5700 Expended Appropriations 300

5200(N) Revenue From Services Provided 370

5993(F99) Offset to Non-Entity Collection – Noncustodial Statement 370

6100(N) Operating Expenses/Program Costs 300

Totals 750 750 740 740

Preclosing Adjusting entry

GFR Account

(19 0830)

General Fund

of Treasury G/L

To record the closing of FBWT collected in a 

general fund receipt account at the yearend.

Budgetary

None

Proprietary (TC: F124)

2985(F99) Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity 370

1010 Fund Balance With Treasury12 370

Budgetary

None

Proprietary 

Liability for Agency Fund Balance 370

 Transferred In of Equity for General Fund 370

 12 There will be a timing difference between when this adjusting entry is made by the agencies and when Treasury sweeps fund balance in the GFR account at the end of a fiscal year.
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 - Collection of Exchange Revenue with Related Costs

49 8/22/2007

Year 1 – 4th Quarter Preclosing Adjusted Trial Balance

Program Fund 

(19X0113)

GFR Account

(19 0830)

Budgetary DR CR DR CR

4119 Other Appropriations Realized 450

4610 Allotments – Realized Resources 150

4902 Delivered Orders – Obligations, Paid 300

Totals 450 450 0 0

Proprietary

1010 Fund Balance With Treasury (NE) 150 0

2985(F99) Liability for Non-Entity Assets Not Reported on the Statement of Custodial 

Activity

0

3100 Unexpended Appropriations 0

3101 Unexpended Appropriations - Appropriations Received 450

3107 Unexpended Appropriations – Appropriations Used 300

3310 Cumulative Results of Operations 0

5700 Expended Appropriations 300

5200(N) Revenue from Services Provided 370

5993(F99) Offset to Non-Entity Collection – Statement of Changes in Net Position 370

6100(N) Operating Expenses/Program Costs 300

Totals 750 750 370 370
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 - Collection of Exchange Revenue with Related Costs

50 8/22/2007

STATEMENT OF BUDGETARY RESOURCES

For the Year ended September 30, Year 1

BUDGETARY RESOURCES 

 1. Unobligated balance, brought forward, Oct 1 0

 2. Recoveries of prior-year unpaid obligations

 3. Budget authority

A1. Appropriations (4119E) 450

 4. Nonexpenditure transfers, net, anticipated and actual

7. Total Budgetary Resources 450

STATUS OF BUDGETARY RESOURCES

8. Obligations incurred, direct (4902E) 300

9. Unobligated balance, currently available (4610E) 150 

10. Unobligated balance not available

11. Total Status of Budgetary Resources 450

CHANGE IN OBLIGATED BALANCE

12. Obligated balance, net, beginning of period 0

13. Obligations incurred 300

14. Less: Gross outlays 300

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period 

NET OF OUTLAYS

19. Outlays 

A. Gross outlays (4902E) 300

D. Net outlays 300
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related Costs

51 8/22/2007

CONSOLIDATED BALANCE SHEET

As of September 30, Year 1

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 150

 6. Total intragovernmental 150

 15. Total Assets 150

Liabilities:

 Intragovernmental:

19. Other (2985E) 0 

28. Total liabilities 0

Net Position:

31. Unexpended appropriation – other funds (3100B, 3101E, 3107E) 150

33. Cumulative results of operations – other funds (3310B, 5200E, 5700E, 5993E, 6100E) 0

34. Total net position 150

35. Total liabilities and net position 150
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related Costs

52 8/22/2007

CONSOLIDATED STATEMENT OF NET COST

 For the Year ended September 30, Year 1

Program Costs:

Program A:

 1. Gross costs (6100E) 300

 3. Net program costs 0

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs (5200E) 370

6. Net cost of operations (70)
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related Costs

53 8/22/2007

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

For the Year ended September 30, Year 1

Cumulative Results of Operations Earmarked 

Funds

All Other 

Funds

Eliminations Consolidated

1. Beginning balances 0 0

2. Adjustments 0 0

3. Beginning balances, adjusted 0 0

Budgetary Financing Sources:

 4. Other adjustments

 5. Appropriation Used (5700E) 300 300

 6. Nonexchange revenue

 7. Donations and forfeiture of cash and cash 

equivalents

 8. Transfers in/out without reimbursement

 9. Other

Other Financing Sources (Non-Exchange):

 10. Donations and Forfeiture of property
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related Costs

54 8/22/2007

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

For the Year ended September 30, Year 1

11. Transfers in/out without reimbursement 0 0

12. Imputed financing

13. Other (5993E, 5994E) (370) (370)

14. Total Financing Sources (70) (70)

15. Net cost of operations (70) (70)

16. Net change 0 0

17. Cumulative results of operations 0 0

Unexpended Appropriations:

18. Beginning balance 0 0

19. Adjustments

20.Beginning balance, as adjusted 0 0

Budgetary Financing Sources:

21. Appropriations received 450 450

22. Appropriations transferred in/out

23. Other adjustment

24. Appropriations used (300) (300)

25. Total Budgetary Financing Sources 150 150

26. Total Unexpended Appropriations 150 150

27. Net position 150 150
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related Costs

55 8/22/2007

COMBINED STATEMENT OF FINANCING

For the year ended September 30, Year 1

Resources Used to Finance Activities

Budgetary Resources Obligated:

1. Obligations incurred (4801 E-B/ 4902 E / 4901 E-B) 300

4. Less: offsetting receipts (5900E) ____

5. Net obligations (1..4) 300

7. Transferred in/out w/o reimbursement

9. Other (5993E, 5994E) (370)

10. Net other resources used to finance activities (6 . .9) (370)

11. Total Resources Used to Finance Activities (5+10) (70)

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

15. Resources that finance the acquisition of assets 

16. Other resources or adjustments to net obligated

 resources net do not affect net cost of operations (5993E, 5994E) (370)

17. Total resources used to finance items

not part of the net cost of operations (12..16) (370) 

18. Total resources used to finance the 

net cost of operations (11-17) 300

Components of the Net Cost of Operations That Will Not Require

Or Generate Resources in the Current Period:

22. Increases in exchange revenue receivable from the public 0

27. Other (520013) (370) 29. Total Components of the net cost of operations 

that will not require or generate resources in the current period (370) 

30. Net cost of operations (18+29) (70)

 13 Add to line 27, Statement of Financing for exchange revenue collected in the general fund receipt account that is not reported as a distributed 

offsetting receipt.
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related Costs

56 8/22/2007

Closing Entries:

C1) To record consolidation of actual resources. Proprietary (TC: F302)

DR 4201 Total Actual Resources – Collected 450

CR 4119 Other Appropriation Realized 450

C2) To record paid delivered orders to total actual 

resources

Proprietary (TC: F314)

DR 4902 Delivered Orders – Obligations, Paid 300

CR 4201 Total Actual Resources – Collected 300

C3) To record the closing of Unobligated balance 

to expiring authority

Proprietary (TC: F312)

DR 4610 Allotments – Realized Resources 150

CR 4650 Allotments – Expired Authority 150

C4) To record the closing of revenue, expense 

and other financing source accounts to cumulative 

results of operations.

Proprietary (TC: F336)

DR 3310 Cumulative Results of Operations 670 

CR 5993(F99) Offset to Non-Entity Collection – Statement of

Changes in Net Position 370

CR 6100 Operating expense 300

DR 5200 Revenue from Services Provided 370

DR 5700 Expended Appropriation 300

CR 3310 Cumulative Results of Operations 670 

C5) To record the closing of appropriations 

received and used to unexpended appropriations.

Proprietary (TC: F342)

DR 3101 Unexpended Appropriations – Appropriation Received 450 

 CR 3100 Unexpended Appropriations 100

 CR 3107 Unexpended Appropriations – Used 350 
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 3 – Collection of Exchange Revenue with Related Costs

57 8/22/2007

Post-Closing Trial Balance

Program Fund General Fund Receipt Account

Budgetary DR CR DR CR

4201 Total Actual Resources - Collected 150

4650 Allotments – Expired Authority 150

 Total 150 150 0 0

Proprietary

1010 FBWT 150 0

2985 Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity

0

3100 Unexpended Appropriation 150

3310 Cumulative Results of Operations 0 0

 Total 150 150 0 0
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

58 8/22/2007

GFR Account Scenario 4

Non-Custodial Statement Collections:

 Collection of Receivables

From

Canceled Authority 

Canceled Appropriation

Agencies must close appropriation accounts available for obligation during a definite period on 

September 30th of the fifth fiscal year after the account's obligational availability ends. Cancel any 

remaining balances (whether obligated or unobligated) in the account. Collections received after an 

account has been closed are deposited in miscellaneous receipts account 3200, "Collection of 

Receivables from Canceled Accounts." For detailed scenarios on canceled authority, see the 

“Accounting for Expired and Cancelled Authority for Other Than Special and Trust Funds Scenario, Year 
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

59 8/22/2007

6” under the approved scenarios on the USSGL Web site at 

https://www.fiscal.treasury.gov/fsreports/ref/ussgl/ussgl_home.htm.

Beginning Trial Balance – Canceled Account

Budgetary DR CR

4251 Reimbursements and Other Income Earned – Receivable 120

4650 Allotments – Expired Authority 120

120 120

Proprietary

1310(N) Accounts Receivable 120

3310 Cumulative Results of Operations 120

120 120

Year 6

Description Canceled Account GFR Account XX 3200 General 

Fund

of Treasury 

G/L

1. To record cancellation of receivable and 

to reestablish canceled receivable in the 

Treasury General Fund receipt account.

Budgetary (F14414)

4650 Allotments – Expired Authority 120

4251 Reimbursements and Other Income

Earned – Receivable 120

Proprietary (F144)

5900(Fxx) Other Revenue 120

1310(Fxx) Accounts Receivable 120

Budgetary

None

Proprietary (TC: C420, C405)

1310(Fxx) Accounts Receivable 120

5900(Fxx) Other Revenue 120

5994(F99) Offset to Non-Entity Accrued Collection

Statement of Changes in Net Position 120

Budgetary

None

Proprietary

None

 14 Note the entries for recording a canceled receivable is considered an adjusting entry.
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

60 8/22/2007

 2985(F99) Liability for Non-Entity Assets Not Reported 

on the Statement of Custodial Activity 120 
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

61 8/22/2007

Year 6 - Preclosing Adjusted Trial Balance

Canceled Account General Fund Receipt Account

Budgetary Debit Credit Debit Credit

4251 Reimbursements and Other Income Earned – Receivable 0

4650 Allotments – Expired Authority 0

Proprietary

1310 (Fxx) Accounts Receivable 0 120

2985(F99) Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity

120

5900 (Fxx) Other Revenue 120 0 120

5994(F99) Offset to Non-Entity Accrued Collection - Statement of 

Changes in Net Position

120

3310 Cumulative Results of Operations 0 120

120 120 240 240
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

62 8/22/2007

CONSOLIDATED BALANCE SHEET

As of September 30, Year 6

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 0

3. Accounts receivable (1310E) 120

 6. Total intragovernmental 0

15. Total assets 120

Liabilities:

 Intragovernmental:

19. Other (2985E) 120 

27. Other 0__

28. Total liabilities 120

Net Position:

33. Cumulative results of operations – other funds (3310B, 5900E, 5994E) 0

34. Total net position 0

35. Total liabilities and net position 120
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

63 8/22/2007

CONSOLIDATED STATEMENT OF NET COST

For the year ended September 30, Year 6

Program Costs:

Program A:

1. Gross costs 0

3. Net program costs 0

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs

(5900E: Canceled account Dr 120, GFR account Cr 120) 0

6. Net cost of operations 0
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

64 8/22/2007

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

For the Year Ended September 30, Year 6

Earmarked Funds All Other Funds Eliminations Consolidated 

Total

Cumulative Results of Operations:

1. Beginning blances 120 120

2. Adjustments

3. Beginning balance, as adjusted 120 120

Budgetary Financing Sources:

 4. Other adjustments

 5. Appropriations used

 6. Non-exchange revenue

 7. Donations and forfeiture of cash and cash equivalents

 8. Transfers in/out without reimbursement

 9. Other

Other Financing Sources (Non-Exchange):

 10. Donations and forfeitures of property

 11. Transfers in/out reimbursement 

 12. Imputed financing

 13. Other (5994E) (120) (120)

14. Total Financing Sources CALC (4...13) (120) (120)

15. Total Net Cost 0 0

16. Net Change CALC (14-15) (120) 0

17. Cumulative Results of Operations CALC (3+16) 0 0

Unexpended Appropriations:

18. Beginning balance

19. Adjustments

20.Beginning balance, as adjusted 0 0
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

65 8/22/2007

Earmarked Funds All Other Funds Eliminations Consolidated 

Total

Budgetary Financing Sources:

 21. Appropriations received (3101)

 22. Appropriations transferred in/out

 23. Other adjustment

 24. Appropriations used (3107)

 25. Total Budgetary Financing Sources CALC (21..24) 0 0

26. Total Unexpended Appropriations CALC (20+25) 0 0

27. Net Position CALC (17+26) 0 0
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

66 8/22/2007

CPMBINED STATEMENT OF FINANCING

For the year ended September 30, Year 6

Resources Used to Finance Activities

Budgetary Resources Obligated:

1. Obligations incurred (4801 E-B/ 4902 E / 4901 E-B) 0

3. Obligations net of offsetting collections and recoveries (CALC 1-2) 0

5. Net obligations (CALC 3-4) (0)

Other Resources:

9. Other (5994E) (120)

10. Net other resources used to finance activities CALC (6..9) (120)

11. Total resources used to finance activities CALC (5+10) (120)

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

16. Other resources or adjustments to net obligated resources that do not affect net cost of operations (5994E) (120) 

17. Total resources used to finance items not part of the net cost of operations CALC (12..16) (120)

 

18. Total resources used to finance the net cost of operations CALC (11-17) 0

Components of the Net Cost of Operations that will not Require

or Generate Resources in the Current Period:

24. Total components of Net Cost of Operations that will require or generate resources in future periods CALC (19..23) 0

Components not Requiring or Generating Resources:

27. Other (5900)15 (0)

28. Total components of Net Cost of Operations that will not require or generate resources CALC (25..27) 0

29. Total components of net cost of operations that will not require or generate resources in the current period CALC (24+28) 0

30. Net cost of operations CALC (18+29) (0)

 15 Add to line 27 of the Statement of Financing, exchange revenue collected in the General Fund receipt account that is not reported as a distributed offsetting receipt.
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

67 8/22/2007

STATEMENT OF BUDGETARY RESOURCES 

For the year ended September 30, Year 6

BUDGETARY RESOURCES:

 1. Unobligated balance, brought forward, Oct 1, 0

 2. Recoveries of prior-year unpaid obligations

 3. Budget authority

A. Appropriation 

D. Spending authority from offsetting collection (4251E-B) 0

 4. Nonexpenditure transfers, net, anticipated and actual

 5. Temporarily not available

 6. Permanently not available 0 

7. Total Budgetary Resources 0

STATUS OF BUDGETARY RESOURCES:

8. Obligations incurred, direct 

9. Unobligated balance 

10. Unobligated balance not available (4650) 0

11. Total Status of Budgetary Resources

CHANGE IN OBLIGATED BALANCE:

12. Obligated balance, Net 

13. Obligations incurred

14. Less: Gross outlays

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period 0

NET OF OUTLAYS:

19. Outlays: 0

A. Gross outlays

D. Net outlays 0
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

68 8/22/2007

BUDGET PROGRAM AND FINANCING

(P&F) Schedule Prior-Year Actual Column

OBLIGATIONS BY PROGRAM ACTIVITY

1000 Total new obligations 0 

BUDGETARY RESOURCES AVAILABLE FOR OBLIGATION

2140 Unobligated balance carried forward, start of year 0

2200 New budget authority (gross) (+) (CALC, sum 4000..6962)

2395 Total new obligations (-) (CALC, same as line 1000, w/ opposite sign) 

2440 Unobligated balance carried forward, end of year 0 

NEW BUDGET AUTHORITY (GROSS), DETAIL

4000 Appropriation (+) 

4300 Appropriation (total) (CALC, sum of 4000-4200)

5800 Spending authority from offsetting collections (cash)

5890 Spending authority from offsetting collections (total) (CALC, sum 5800-5862) 

CHANGE IN OBLIGATED BALANCES

7240 Obligated balance, start of year (+) 

7310 Total new obligations (+) (CALC, same as line 1000) 0

7320 Total outlays (gross) (-) 

7440 Obligated balance, end of year (+) 0 

OUTLAYS (GROSS), DETAIL

8690 Outlays from new discretionary authority (+) 

OFFSETS

8840 Non-Federal sources 

8890 Total offsetting collections (cash)

NET BUDGET AUTHORITY AND OUTLAYS

8900 Budget authority (net) (+) (sum 2200 – (8800..8845), 8895, 8896) 0

9000 Outlays (net) (+) (sum (8690..8698) – (8800..8845)) 0
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

69 8/22/2007

Closing Entries:

C1) To record the closing of revenue, expense and 

other financing source to cumulative results of 

operations.

Budgetary Entry

None

Proprietary Entry (TC: F336)

3310 Cumulative Results of Operations 120

5994(F99) Offset to Non-Entity Accrued Collections -

Statement of Changes in Net Position 120

Year 6, Post-closing Trial Balance

Canceled Account General Fund Receipt Account

Budgetary Debit Credit Debit Credit

4251 Reimbursements and Other income earned – receivable 0

4650 Allotments – Expired Authority 0

Proprietary

1310 (Fxx) Accounts receivable 0 120

2985(F99) Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity

120

3310 Cumulative Results of Operations 0

5900 (Fxx) Other Revenue 0 0

5994(F99) Offset to Non-Entity Accrued Collection - Statement of 

Changes in Net Position

0

0 0 120 120
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

70 8/22/2007

Year 7 – 1st Quarter

Description GFR Account General Fund

of Treasury G/L

1. To record the collection of $50. Budgetary

None

Proprietary (TC: C143, D585)

1010 Fund Balance With Treasury16 50

1310(Fxx) Accounts Receivable 50

5993(F99) Offset to Non-Entity Collections - Statement of Changes in Net 

Position 50

5994(F99) Offset to Non-Entity Accrued Collections - Statement of 

Changes in Net Position 50

Budgetary

None

Proprietary

Cash 50

 Liability for Agency Fund 

Balance 50

Year 7 - Preclosing Trial Balance

GFR Account

DR CR

1010 Fund Balance With Treasury 50

1310(Fxx) Accounts Receivable 70

2985(F99) Liability for Non-Entity Assets Not Reported on the Statement of Custodial Activity 120

5993(F99) Offset to Non-Entity Collections - Statement of Changes in Net Position 50

5994(F99) Offset to Non-Entity Accrued Collections - Statement of Changes in Net Position 50

TOTAL 170 170

 16 Although USSGL account 1010 is deposited in the General Fund of the Treasury, the collecting agency still has to carry the balances of USSGL account 1010 and 2985 on its

quarterly Balance Sheet. Treasury’s STAR system does not sweep USSGL account 1010 until the yearend. The agency should make a note of this as a reconciling item.
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statements Collections

Scenario 4 - Collection of Receivables From Canceled Authority

71 8/22/2007

CONSLIDATED BALANCE SHEET

As of 1st Quarter, December 30, Year 7

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 50

3. Accounts receivable (1310E) 70

 6. Total intragovernmental 120

 15. Total assets 120

Liabilities:

 Intragovernmental:

19. Other (2985E) 120 

27. Other 0_

28. Total liabilities 120

Net Position:

33. Cumulative results of operations – other funds (3310B, 5993E, 5994E) 0_

34. Total net position 0

35. Total liabilities and net position 120
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statements Collections

Scenario 4. Collection of Receivables From Canceled Authority 

72 8/22/2007

CONSOLIDATED STATEMENT OF NET COST

For the 1st Quarter ended December 31, Year 7

Program Costs:

Program A:

1. Gross costs 0

3. Net program costs 0

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs 0 

6. Net cost of operations 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statements Collections

Scenario 4. Collection of Receivables From Canceled Authority 

73 8/22/2007

Year 7 – 4th Quarter

Description GFR Account General Fund

of Treasury G/L

1. To record the collection of $70. Budgetary

None

Proprietary (TC: C143, D585)

1010 Fund Balance With Treasury 70

1310(Fxx) Accounts Receivable 70

5993(F99) Offset to Non-Entity Collections - Statement of 

Changes in Net Position 70

5994(F99) Offset to Non-Entity Accrued Collections -

Statement of Changes in Net Position 70

Budgetary

None

Proprietary

Cash 70

Liability for Agency Fund 

Balance 70

Year 7 - Preclosing Trial Balance

GFR Account

DR CR

1010 Fund Balance With Treasury 120

2985(F99) Liability for Non-Entity Assets Not Reported on the Statement of 

Custodial Activity

120

3310 Cumulative Results of Operations 0

5993(F99) Offset to Non-Entity Collections - Statement of Changes in Net 

Position

120

5994(F99) Offset to Non-Entity Accrued Collections - Statement of Changes in 

Net Position

120

TOTAL 240 240
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statements Collections

Scenario 4. Collection of Receivables From Canceled Authority 

74 8/22/2007

Year 7 - Preclosing Adjusting Entry

Description GFR Account General Fund

of Treasury G/L

To record the closing of FBWT collected in a 

General Fund receipt account at the year end. 

Budgetary

None

Proprietary (TC: F124)

2985(F99) Liability for Non-Entity Assets Not Reported on the Statement 

of Custodial Activity 120

1010 Fund Balance with Treasury17 120

Budgetary

None

Proprietary

Liability for Agency Fund 

Balance 120

 Transferred In of Equity for 

General Fund 120

Year 7 - Preclosing Adjusted Trial Balance

GFR Account

DR CR

1010 Fund Balance With Treasury 0

2985(F99) Liability for Non-Entity Assets Not Reported on the Statement of Custodial 

Activity

0

3310 Cumulative Results of Operations 0

5993(F99) Offset to Non-Entity Collections - Statement of Changes in Net Position 120

5994(F99) Offset to Non-Entity Accrued Collections - Statement of Changes in Net 

Position

120

TOTAL 120 120

 17 There will be a timing difference between when this adjusting entry is made by the agencies and when Treasury sweeps fund balance in the GFR account at the end of a fiscal year.
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statements Collections

Scenario 4. Collection of Receivables From Canceled Authority 

75 8/22/2007

No STATEMENT OF BUDGETARY RESOURCES is prepared for a canceled account. 

CONSOLIDATED BALANCE SHEET

As of September 30, Year 7

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 0

 6. Total intragovernmental 0

 15. Total assets 0

Liabilities:

 Intragovernmental:

19. Other (2985E) 0 

27. Other 0

28. Total liabilities 0

Net Position:

33. Cumulative results of operations – other funds (3310B, 5993E, 5994E) 0

34. Total net position 0

35. Total liabilities and net position 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statements Collections

Scenario 4. Collection of Receivables From Canceled Authority 

76 8/22/2007

CONSOLIDATED STATEMENT OF NET COST

For the year ended September 30, Year 7

Program Costs:

Program A:

1. Gross costs 0

3. Net program costs 0

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs 0

6. Net cost of operations 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statements Collections

Scenario 4. Collection of Receivables From Canceled Authority 

77 8/22/2007

Consolidated Statement of Changes in Net Position

For the Year Ended September 30, Year 7

Earmarked Funds All Other Funds Eliminations Consolidated 

Total

Cumulative Results of Operations 

1. Beginning balances 0 0

2. Adjustments

3. Beginning balance, as adjusted 0 0

Budgetary Financing Sources:

 4. Other adjustments

 5. Appropriations used

 6. Non-exchange revenue

 7. Donations and forfeiture of cash and cash equivalents

 8. Transfers in/out without reimbursement

 9. Other

Other Financing Sources (Non-Exchange):

 10. Donations and forfeitures of property

 11. Transfers in/out reimbursement 0

 12. Imputed financing

 13. Other (5993E, 5994E) 0 0

14. Total Financing Sources CALC (4...13) 0 0

15. Total Net Cost 0 0

16. Net Change CALC (14-15) 0 0

17. Cumulative Results of Operations CALC (3+16) 0 0

Unexpended Appropriations:

18. Beginning balance

19. Adjustments

20.Beginning balance, as adjusted 0 0

Budgetary Financing Sources:
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statements Collections

Scenario 4. Collection of Receivables From Canceled Authority 

78 8/22/2007

Earmarked Funds All Other Funds Eliminations Consolidated 

Total

 21. Appropriations received (3101)

 22. Appropriations transferred in/out

 23. Other adjustment

 24. Appropriations used (3107)

 25. Total Budgetary Financing Sources CALC (21..24) 0 0

26. Total Unexpended Appropriations CALC (20+25) 0 0

27. Net position CALC (17+26) 0 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statements Collections

Scenario 4. Collection of Receivables From Canceled Authority 

79 8/22/2007

COMBINED STATEMENT OF FINANCING

For the year ended September 30, Year 7

Resources Used to Finance Activities:

Budgetary Resources Obligated

5. Net obligations (CALC 3-4) (0)

Other Resources:

7. Transfers in/out without reimbursement (0)

9. Other (5993E, 5994E) (0)

10. Net other resources used to finance activities CALC (6..9) (0)

11. Total resources used to finance activities CALC (5+10) (0)

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

16. Other resources or adjustments to net obligated resources that do not affect net cost of operations (5993E, 5994E) (0) 

17. Total resources used to finance items not part of the net cost of operations CALC (12..16) (0)

 

18. Total resources used to finance the net cost of operations CALC (11-17) 0

Components of the Net Cost of Operations that will not Require

or Generate Resources in the Current Period:

24. Total components of Net Cost of Operations that will require or generate resources in future periods CALC (19..23) 0

Components not Requiring or Generating Resources:

27. Other 0

28. Total components of Net Cost of Operations that will not require or generate resources CALC (25..27) 0

29. Total components of net cost of operations that will not require or generate resources in the current period CALC (24+28) 0

30. Net Cost of Operations CALC (18+29) 0

BUDGET PROGRAM AND FINANCING (P&F) SCHEDULE is not applicable for this scenario.
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statements Collections

Scenario 4. Collection of Receivables From Canceled Authority 

80 8/22/2007

Closing Entries:

C1) To record the closing of revenue, expense, and 

other financing source to cumulative results of 

operations.

Budgetary Entry

None

Proprietary Entry(TC:F336)

5994(F99) Offset to Non-Entity Accrued Collections - Statement of Changes in Net 

Position 120

3310 Cumulative Results of Operations 120

3310 Cumulative Results of Operations 120

5993(F99) Offset to Non-Entity Collections - Statement of Changes in Net 

Position 120

Post-Closing Trial Balance

DR CR

1010 Fund Balance With Treasury 0

3310 Cumulative Results of Operations 0

TOTAL 0 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

81 8/22/2007

GFR Account Scenario 5

Non-Custodial Statement Collections:

Collection of Proceeds From 

Disposition of Personal Property

(Assume the replacement property18 is not acquired within a 

2-year period; therefore, the money is deposited into Treasury’s GFR Account.)

Disposition of Personal Property

Agencies can use the proceeds from the disposal of personal property to acquire a replacement property 

within a prescribed time limit (the year the property is disposed plus one subsequent year). If an acquisition of 

the replacement property does not occur within the prescribed time, the proceeds must be transferred to a 

GFR account. 

 18 See GAO Title VII, Chapter 5, pgs 7.5-8. If the sales proceeds are received before an obligation for replacement property has been incurred, but an administrative determination has been 

made and documented that such proceeds will be used as an appropriation reimbursement to apply against an obligation which will be incurred within the prescribed time limit, the proceeds 

should be credited to the appropriate budget clearing account. If the sales proceeds are not available for obligation or are not to be applied to replacement purchases, the proceeds will be 

deposited in the Treasury as miscellaneous receipts of the General Fund.

See CFR 41, Chapter 101, Section 101-46.304, (a) For a sale of property before the purchase of replacement property, (1) the proceeds of such sales will be credited to the agency’s account 2) 

The proceeds of such sales will be available for obligation for the acquisition of similar replacement items of personal property during the fiscal year in which the sale is made and for one fiscal 

year thereafter. 3) Proceeds of sales related to personal property for which an obligation for replacement has not been incurred during the period of availability following the date of sale, or sales 

proceeds, which for other reasons an agency elects not to apply to replacement costs, shall be deposited to miscellaneous receipts account. 4) If it is determined at the time of collection that 

sales proceeds will not be applied to replacement acquisitions, the deposit should be made directly to the miscellaneous receipts account. (b) For the sale of property after the purchase of 

replacement property, the proceeds may be deposited as a direct reimbursement credit to the appropriation previously charged for the replacement of similar items of personal property.
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

82 8/22/2007

If agencies have authority from legislation to keep proceeds for more than the prescribed period, then this scenario may not be 

applicable. The purpose of this section is to show how sales proceeds are collected into a GFR account. For more details on 

proceeds from disposition of personal property, refer to the “Disposition of Personal Property” guidance on the USSGL Web site.

NOTE: In reality proceeds are deposited directly into an agency’s budget clearing account F3845, “Proceeds of Sales, Personal Property,” when 

personal property is disposed. However, for reporting purposes, the money will appear as if it’s coming into the program fund first and is then 

transferred to the budget clearing account. The accounting entries are illustrated this way so that the asset (property) is properly removed from 

the program fund. 

Currently clearing accounts only record assets and liabilities. But, in this case when the fund balance is “transferred out“ from a program fund to a 

clearing account the matching “transferred in” account will not be recorded in the General Fund receipt account until the clearing account

disburses the fund balance in a subsequent year. For example, a program fund will record “transferred out” in one year but the matching 

“transferred in” will not be recorded in the General Fund receipt account until the following year. Therefore, the Issues Resolution Committee (IRC)

decided that it would be cleaner to record a matching transferred in/out pair when the proceeds is transferred from program account to the clearing 

account and also when the fund balance is transferred from clearing account to the GFR account in the subsequent period. This process will 

cause F3845 to have a net position, because the proceeds transferred in to the clearing account is generally not used or returned to the GFR

account within the same accounting period. Having a net position in a budget clearing account, F3845, is an exception, and should not be 

normal practice for most clearing accounts.

Beginning Trial Balance

DR CR

Budgetary

4201 Total Actual Resources – Collected

4450 Unapportioned Authority

Total

Proprietary

1750 Equipment 1,200

1759 Accumulated Depreciation on Equipment 480

3310 Cumulative Results of Operations 720

1,200 1,200
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

83 8/22/2007

Year 2 – 1st Quarter

Descriptions Program Fund Clearing Account

(3845) GFR Account General Fund

of Treasury G/L

1. To record the sale of agency 

equipment. (Assume this is not 

distributed receipts.)

Note: Money is deposited directly to 

a clearing account, but in order to 

remove the PPE when it is sold, the 

Fund Balance With Treasury has to 

come into the program account first.

Budgetary

None

Proprietary (TC: C610, E509)

1010 Fund Balance With

Treasury 300

1759(N) Accumulated Depreciation

on Equipment 300

 1750(N) Equipment 500

 7110(N) Gain on Disposition of 

 Assets - Other 100

5776(Fxx) Nonbudgetary Financing 

Sources Transferred out 300

 1010 Fund Balance With

Treasury 300

Budgetary

None

Proprietary (TC: C155)

1010 Fund Balance With

Treasury 300

 5775(Fxx) Nonbudgetary 

Financing Sources Transferred in 300

Budgetary

None

Proprietary

None 

Budgetary

None

Proprietary

None

2. To record receipts returned to 

Treasury GFR account. 

It was determined that the 

replacement property will not be 

acquired and the receipt will be 

returned to Treasury. (This 

transaction would also apply to the 

agency that does not replace the 

property within the prescribed time 

limit.)

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary (TC: E509)

5776(Fxx)

19 Nonbudgetary Financing 

Sources Transferred out 300

1010 Fund Balance With

Treasury 300

Budgetary

None

Proprietary (TC: C155, C147)

1010 Fund Balance With

Treasury20 300

 5775(Fxx) Nonbudgetary Financing 

Sources Transferred in 300

5993(F99) Offset to Non-Entity 

Collections - Statement of Changes

in Net Position 300

 2985(F99) Liability for Non-Entity 

Assets Not Reported on the 

Statement of Custodial 

Activity 300

Budgetary

None

Proprietary

Cash 300

 Liability for Agency Fund 

Balance 300

 19 Partner code FXX for USSGL accounts 5775 and 5776 in this scenario should be the collecting agency’s 2-digit agency code. 20 Although USSGL account 1010 is deposited in the General Fund of the Treasury, the collecting agency still has to carry the balances of USSGL account 1010 and 2985 on its quarterly 

Balance Sheet. Treasury’s STAR system does not sweep USSGL account 1010 until the yearend. The agency should make a note of this as a reconciling item.
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

84 8/22/2007

Preclosing Trial Balance

P Fund Clearing Account GFR Account Elimination Consolidated

DR CR DR CR DR CR DR CR DR CR

Budgetary

4201 Total Actual Resources – Collected 0 0

4450 Unapportioned Authority 0 0

TOTAL 0 0

Proprietary

1010 Fund Balance With Treasury 0 300 300

1750(N) Equipment 700 700

1759(N) Accumulated Depreciation on 

Equipment 

180 180

2985(F99) Liability for Non-Entity Assets 

Not Reported on the Statement of Custodial 

Activity

300 0 300

3100 Unexpended Appropriation 0 0

3310 Cumulative Results of Operations 720 0 720

5775(Fxx) Nonbudgetary Financing 

Sources Transferred in 

300 300 600 0 0

5776(Fxx) Nonbudgetary Financing 

 Sources Transferred out 

300 300 600 0 0

5993(F99) Offset to Non-Entity Collections 

- Statement of Changes in Net Position

300 300

7110(N) Gains on Disposition of Assets -

Other

100 0 100

7210(N) Losses on Disposition of Assets -

Other

0 0

TOTAL 1,000 1,000 300 300 600 600 600 600 1,300 1,300
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

85 8/22/2007

STATEMENT OF BUDGETARY RESOURCES 

For the 1st Quarter Ended December 31, Year 2

For Program Fund

Budgetary Resources:

 1. Unobligated balance, brought forward, Oct. 1: 0

 2. Recoveries of prior-year unpaid obligations

 3. Budget authority

3A. Appropriations

 4. Nonexpenditure transfers, net, anticipated and actual

 5. Temporarily not available pursuant to Public Law

 6. Permanently not available ___

 7. Total Budgetary Resources 0__

Status of Budgetary Resources:

8. Obligations incurred: 

8A. Direct 0 

9. Unobligated balance 

10. Unobligated balance not available ___

11. Total Status of Budgetary Resources 0__

Change in Obligated Balance:

12. Obligated balance, net 

13. Obligations incurred net

14. Less: Gross outlays

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations, actual

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period 0

Net Outlays:

19. Net Outlays: 

19A. Gross outlays 0

19C. Distributed offsetting receipts 

19D. Net outlays 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

86 8/22/2007

CONSOLIDATED BALANCE SHEET

As of 1st Quarter, December 31, Year 2

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 300

6. Total intragovernmental 0

13. General property, plant, and equipment, net (1750E,1759E) 520

15. Total Assets 820

Liabilities:

 Intragovernmental

19. Other (2985E) 300 

28. Total liabilities 300

Net Position:

33. Cumulative results of operations – other funds (3310B, 5775E, 5776E, 5993E, 7110E, 7210E) 520

34. Total net position 520

35. Total liabilities and net position 820
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

87 8/22/2007

CONSOLIDATED STATEMENT OF NET COST

For the 1st Quarter Ended December 31, Year 2

Program Costs:

Program A:

1. Gross costs 0

3. Net program costs 0

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs (7110E) 100

6. Net cost of operations (100)
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

88 8/22/2007

Year 2 – 4th Quarter

Descriptions Program Fund Clearing Account

(3845) GFR Account General Fund

of Treasury G/L

1. To record the sale of agency 

equipment. (Assume this is not 

distributed receipts.)

Note: Money is deposited directly to 

a clearing account, but in order to 

remove the PPE when it is sold, the 

Fund Balance With Treasury has to 

come into the program account first.

Budgetary

None

Proprietary (TC: C610, E509)

1010 Fund Balance With 

Treasury 400

1759(N) Accumulated Depreciation

on Equipment 180

7210(N) Loss on Disposition

of Assets - Other120

1750N Equipment 700

5776(Fxx) Nonbudgetary Financing 

Sources Transferred Out 400

 1010 Fund Balance With 

Treasury 400

Budgetary

None

Proprietary (TC: C155)

1010 Fund Balance With 

Treasury 400

 5775(Fxx) Nonbudgetary 

Financing Sources 

Transferred In 400

Budgetary

None

Proprietary

None 

Budgetary

None

Proprietary

None

2. To record receipts returned to 

Treasury GFR account. 

It was determined that the 

replacement property will not be 

acquired and the receipt will be 

returned to Treasury. (This 

transaction would also apply to the 

agency that does not replace the 

property within the prescribed time 

limit.)

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary (TC: E509)

5776(Fxx)

21 Nonbudgetary Financing 

Sources Transferred Out 400

1010 Fund Balance With 

Treasury 400

Budgetary

None

Proprietary (TC: C155, C147)

1010 Fund Balance With 

Treasury 400

 5775(Fxx) Nonbudgetary Financing 

Sources Transferred In 400

5993(F99) Offset to Non-Entity 

Collections - Statement of Changes

in Net Position 400

 2985(F99) Liability for Non-Entity 

Assets Not Reported on the 

Statement of Custodial

Activity 400

Budgetary

None

Proprietary

Cash 400

 Liability for Agency Fund 

Balance 400

 21 Partner code FXX for USSGL accounts 5775 and 5776 in this scenario should be the collecting agency’s 2-digit agency code. 
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

89 8/22/2007

Year 2 - Preclosing Trial Balance

P Fund Clearing Account GFR Account Eliminations Consolidated

DR CR DR CR DR CR DR CR DR CR

Budgetary

4201 Total Actual Resources – Collected 0 0

4450 Unapportioned Authority 0 0

TOTAL 0 0

Proprietary

1010 Fund Balance With Treasury 0 700 700

1750(N) Equipment 0 0

1759(N) Accumulated Depreciation on 

Equipment 

0 0

2985(F99) Liability for Non-Entity Assets 

Not Reported on the Statement of Custodial 

Activity

700 0 700

3100 Unexpended Appropriation 0 0

3310 Cumulative Results of Operations 720 0 720

5775(Fxx) Non budgetary Financing 

Sources Transferred - in 

700 700 1,400 0 0

5776(Fxx) Non budgetary Financing 

Sources Transferred-out 

700 700 1,400 0 0

5993(F99) Offset to Non-Entity Collections 

- Statement of Changes in Net 

Position

700 700

7110(N) Gains on Disposition of Assets -

Other

100 0 100

7210(N) Losses on Disposition of Assets -

Other

120 120

TOTAL 820 820 700 700 1,400 1,400 1,400 1,400 1,520 1,520
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

90 8/22/2007

Year 2 - Preclosing Adjusting Entry

GFR Account General Fund

of Treasury G/L

3. To record the closing of FBWT collected in a 

General Fund receipt account at the yearend. 

Budgetary

None

Proprietary (TC: F124)

2985(F99) Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity 700

1010 Fund Balance With Treasury22 700

Budgetary

None

Proprietary

Liability for Agency Fund Balance 700

 Transferred In of Equity for General Fund 700

 22 There will be a timing difference between when this adjusting entry is made by the agencies and when Treasury sweeps fund balance in the GFR account at the end of a fiscal year.
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

91 8/22/2007

Year 2 - Preclosing Adjusted Trial Balance

Program Fund Clearing Account GFR Account Elimination Consolidated

DR CR DR CR DR CR DR CR DR CR

Budgetary

4201 Total Actual Resources – Collected 0 0

4450 Unapportioned Authority 0 0

TOTAL 0 0

Proprietary

1010 Fund Balance With Treasury 0 0 0

1750(N) Equipment 0 0

1759(N) Accumulated Depreciation on 

Equipment 

0 0

2985F99 Liability for Non-Entity Assets Not 

Reported on the Statement of Custodial Activity

0 0 0

3100 Unexpended Appropriation 0 0

3310 Cumulative Results of Operations 720 0 720

5775(Fxx) Nonbudgetary Financing Sources 

Transferred In 

700 700 1,400 0 0

5776(Fxx) Nonbudgetary Financing 

Sources Transferred Out 

700 700 1,400 0 0

5993(F99) Offset to Non-Entity Collections -

Statement of Changes in Net Position

700 700

7110(N) Gains on Disposition of Assets - Other 100 0 100

7210(N) Losses on Disposition of Assets - Other 120 120

TOTAL 820 820 700 700 700 700 1,400 1,400 820 820
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

92 8/22/2007

STATEMENT OF BUDGETARY RESOURCES 

For the Year Ended September 30, Year 2

For Program Fund

Budgetary Resources:

 1. Unobligated balance, brought forward, Oct. 1: 0

 2. Recoveries of prior-year unpaid obligations

 3. Budget authority

3A. Appropriations 

 4. Nonexpenditure transfers, net, anticipated and actual

 5. Temporarily not available pursuant to Public Law

 6. Permanently not available ___

 7. Total Budgetary Resources 0__

Status of Budgetary Resources:

8. Obligations incurred: 

8A. Direct 0 

9. Unobligated balance: 

10. Unobligated balance not available ___

11. Total Status of Budgetary Resources 0__

Change in Obligated Balance:

12. Obligated balance, net 

13. Obligations incurred net

14. Less: Gross outlays

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations, actual

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period 0

Net Outlays:

19. Net Outlays: 

19A. Gross outlays 0

19C. Distributed offsetting receipts 

19D. Net outlays 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

93 8/22/2007

CONSOLIDATED BALANCE SHEET

As of September 30, Year 2

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 0

6. Total intragovernmental 0

13. General property, plant, and equipment, net (1730E,1739E) 0

15. Total ASSETS 0

Liabilities:

 Intragovernmental

19. Other 0 

27. Other 0

28. Total liabilities 0

Net Position:

33. Cumulative results of operations – other funds (3310B, 5775E, 5776E, 5993E, 7110E, 7210E) 0

34. Total net position 0

35. Total liabilities and net position 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

94 8/22/2007

CONSOLIDATED STATEMENT OF NET COST

For the Year Ended September 30, Year 2

Program Costs:

Program A:

1. Gross costs (7210E) 120

2. Earned Revenue (7110E) 100

3. Net program costs 20

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs 0 

6. Net cost of operations 20
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

95 8/22/2007

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

For the year ended September 30, Year 2

Earmarked 

Funds All Other Funds Eliminations Consolidated

Cumulative Results of Operations 

1. Beginning balances 720 720

2. Adjustments

3. Beginning balances, as adjusted 720 720

Budgetary Financing Sources:

 4. Other adjustments

 5. Appropriations used 

 6. Non-exchange revenue

 7. Donations and forfeitures of cash and cash equivalents

 8. Transfers in/out without reimbursement 

 9. Other

Other Financing Sources (Non-Exchange):

 10. Donations and forfeitures of property

 11. Transfers in/out reimbursement (5775E, 5776E)

 12. Imputed financing

 13. Other (5993E) (700) (700)

14. Total Financing Sources CALC (4...13) (700) (700)

15. Net Cost 20 20

16. Net Change CALC (14-15) (720) (720)

17. Cumulative Results of Operations CALC (3+16) 0 0

Unexpended Appropriations:

18. Beginning balance 0 0

19. Adjustments

20.Beginning balance, as adjusted
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

96 8/22/2007

Earmarked 

Funds All Other Funds Eliminations Consolidated

Budgetary Financing Sources:

 21. Appropriation received (3101)

 22. Appropriations transferred in/out

 23. Other adjustment

 24. Appropriations used (3107)

 25. Total Budgetary Financing Sources CALC (21..24) 0 0

26. Total Unexpended Appropriations CALC (20+25) 0 0

27. Net Position CALC (17+26) 0 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

97 8/22/2007

COMBINED STATEMENT OF FINANCING

For the Year Ended September 30, Year 2

Resources Used to Finance Activities:

Budgetary Resources Obligated

1. Obligations incurred 0

5. Net obligations CALC (3-4) 0

Other Resources

7. Transfers in/out without reimbursement (5775E, 5776E) 0

9. Other (5993E) (700)

10. Net other resources used to finance activities CALC (6..9) (700)

11. Total resources used to finance activities CALC (5+10) (700)

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

12. Changes in budgetary resources obligated for goods, services and benefits ordered but not yet provided 0

16. Other resources or adjustments to net obligated resources that do not affect net cost of operations (5775E, 5776E, 5993E) (700)

17. Total resources used to finance items not part of the net cost of operations CALC (12..16) (700)

 

18. Total resources used to finance the net cost of operations CALC (11-17) 0 

 

Components of the Net Cost of Operations that will not Require or Generate Resources in the Current Period:

Components Requiring or Generating Resources in Future Periods:

24. Total components of Net Cost of Operations that will require or generate resources in future periods CALC (19..23) 0

Components not Requiring or Generating Resources:

26. Revaluation of assets or liabilities (7210, 7110) 20

28. Total components of Net Cost of Operations that will not require or generate resources CALC (25..27) 20

29. Total components of net cost of operations that will not require or generate resources in the current period CALC (24+28) 20

30. Net Cost of Operations CALC (18+29) 20
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 5. Collection of Proceeds from Disposition of Personal Property 

98 8/22/2007

Note: The BUDGET PROGRAM AND FINANCING (P&F) SCHEDULE is not applicable for this scenario.

Closing Entries:

C1) To record the closing of revenue, expense, and 

other financing source accounts to cumulative 

results of operations.

Budgetary Entry

None

Proprietary Entry(TC:F336)

DR 3310 Cumulative Results of Operations 700 

CR 5993(F99) Offset to Non-Entity Collections - Statement of Changes in Net Position 700

C2) To record the closing of gains into cumulative 

results of operations.

Budgetary Entry

None

Proprietary Entry(TC:F338)

DR 7110 Gain on Disposition of Assets – Other 100

CR 3310 Cumulative Results of Operations 100

C3) ) To record the closing of gains into cumulative 

results of operations.

Budgetary Entry

None

Proprietary Entry(TC:F340)

DR 3310 Cumulative Results of Operations 120

CR 7210 Loss on Disposition of Assets - Other 120

Year 2 - Post-Closing Trial Balance

DR CR

1010 Fund Balance With Treasury (NE) 0

1310 Accounts Receivable (NE) 0

3100 Unexpended Appropriations – Cumulative 0

3310 Cumulative Results of Operations 0

TOTAL 0 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

99 8/22/2007

GFR Account Scenario 6

Non-Custodial Statement Collections:

Collection of Downward Reestimate

of Subsidy Expense 

The goal of this section is to record in a loan program the movement of excess subsidy from the

financing fund to a General Fund receipt account. The Credit Reform transactions illustrated in this 

scenario are limited. For detailed Credit Reform transactions, refer to the Credit Reform Case Studies at 

www.USSGL.treas.gov/ussgl/creditreform.

Downward Reestimate of Subsidy

If more subsidy money was collected than is necessary to fund future net cash outflows, the financing 

fund must relinquish the excess subsidy amount. The financing fund must transfer the excess subsidy 

amount, with interest, to a designated GFR account.
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

100 8/22/2007

Year 1 – Quarter 1

Descriptions Program Fund Financing Fund GFR Account

General Fund

of Treasury 

G/L

1. To record enactment of the 

appropriation.

Budgetary (TC: A104)

4115 Loan Sub App 900

4450 Unapportioned 

Authority 900

Proprietary (A104)

1010 Fund Balance With 

Treasury 900

 3101 Unexpended AppropriationAppropriation Received 900

Budgetary (TC: A140)

4070 Anticipated Collections From Fed 

Sources 600

 4450 Unapportioned Authority 600

Proprietary

None

Budgetary

None

Proprietary

NoneBudgetary

None

Proprietary

None

2. To record apportionment. Budgetary (TC: A116)

4450 Unapportioned Authority 900

4510 Apportionments 900

Proprietary

None

Budgetary (TC: A118)

4450 Unapportioned Authority 600

4590 Apportionments – Anticipated 

Resources – Program subject to 

Apportionments 600

Proprietary

None

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

3. To record allotment. Budgetary (TC: A120)

4510 Apportionments 900

4610 Allotments-Realized 

Resources 900

Proprietary

None

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

4. The agency agrees to make 

guarantees, subject to 3rd party 

lenders and their borrowers 

meeting conditions placed on 

them.

Obligated subsidy to be transferred to financing 

fund:

Budgetary (TC: B306)

4610 Allotments-Realized 

Resources 200

 4801 Undelivered Orders – Obligation, 

Unpaid 200

Proprietary

None

To recognize the subsidy to be transferred from 

the program fund:

Budgetary (TC: C101)

4221 Unfilled Customer Order

Without Advance 200

 4070 Anticipated Collections From 

Fed Sources 200

To record allotment from #2 (TC: A122)

4590 Apportionments – Anticipated 

Resources – Program subject to 

Apportionments 200

4610 Allotments-Realized 

Resources 200

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

101 8/22/2007

Descriptions Program Fund Financing Fund GFR Account

General Fund

of Treasury 

G/L

Proprietary

None

5. To record payment of subsidy 

to financing fund.

Budgetary (TC: A146)

4801 Undelivered Orders – Obligation, 

Unpaid 200

 4902 Delivered Orders – Obligation, 

paid 200

Proprietary (TC: A146, B134)

6100N Operating Exp 200

1010 Fund Balance With 

Treasury 200

3107 Unexpended Appropriation

– Used 200

5700 Expended 

Appropriation 200

Budgetary (TC: C103)

4271 Actual Program Fund Subsidy 

Collected 200

4221 Unfilled Customer Order

Without Advance 200

Proprietary (TC: C103)

1010 Fund Balance With 

Treasury 200

 2180N Loan Guarantee Liability 200

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

6. The agency paid third party 

lender claims of $150.

Budgetary

None

Proprietary

None

Budgetary (TC: B104)

4610 Allotments-Realized Resources 150

 4902 Delivered Orders – Obligation, 

paid 150

Proprietary (TC: B104)

2180N Loan Guarantee Liability 150

 1010 Fund Balance With 

Treasury 150

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

7. To establish receivable for 

defaulted loan.

Assume the following:

Loan receivable - $100

Interest receivable - $70

PV of the loan is - $150

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary (TC: C428)

1340N Interest Receivable 70

1350N Loans Receivable 100

1399N Allowance for Subsidy 20

2180N Loan Guarantee

Liability 150

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

Transaction 8A and 8B should 

be done simultaneously.

8A To record downward 

Budgetary

None

Proprietary (TC: D146)

Budgetary

None

Proprietary (TC: D147)

Budgetary

None

Proprietary

Budgetary

None

Proprietary
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

102 8/22/2007

Descriptions Program Fund Financing Fund GFR Account

General Fund

of Treasury 

G/L

reestimate of subsidy expense.

See Credit Reform Case Studies 

for detail illustrations and 

explanations.

5791(FXX) Adjustment to Financing

Sources – Reestimate23 10

 6800(N) Future Funded Expenses 10

2180N Loan Guarantee Liability 10

 5791(FXX) Adjustment to Financing

Sources – Reestimate 10

None None

8B. To record accrual of downward 

subsidy. The transfer of the cash 

is not done until the subsequent 

year. The transfer account in this 

case does not require budgetary 

entries.

Apportionment and allotment does 

not happen until year 2; therefore,

USSGL account 4901 is not 

recorded in year 1. 

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary (TC:D148)

5776(Fxx)

24 Nonbudgetary Financing 

Sources Transferred Out 10

 2990(Fxx) Other Liabilities without Related 

Budgetary Obligations 10

Budgetary

None

Proprietary (TC: C420, C405)

1310(Fxx) Accounts 

Receivable 10

 5775(Fxx) Nonbudgetary 

Financing 

Sources Transferred In 10

5994(F99) Offset to Non-Entity 

Accrued Collections - Statement of 

Changes in Net Position 10

 2985(F99) Liability for Non-Entity 

Assets Not Reported on 

the Statement of Custodial 

Activity 10

 23 The new adjustment to financing account was created to adjust the expense and loan guarantee liability for downward reestimate of subsidy expense without impacting the fund balance and 

the budget balance. The transfer pair was considered but it was not used since no actual transfer of fund balance was taking place between the funds. The fund balance remained in the 

financing fund. Some of the transactions illustrated in this scenario will impact credit reform case studies and as a result some changes to the credit reform case studies will be made. 

24 Partner code FXX for USSGL accounts 5775 and 5776 in this scenario should be the collecting agency’s 2-digit agency code. 
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

103 8/22/2007

Year 1 - Preclosing Trial Balance

Program Fund Financing Fund GFR Eliminations Consolidated

Budgetary DR CR DR CR DR CR DR CR DR CR

4070 Anticipated Collections From Federal Sources 400 400

4115 Loan Subsidy Appropriation 900 900

4221 Unfilled Customer Orders Without Advance 0

4271 Actual Program Fund Subsidy Collected 200 200

4590 Apportionments – Anticipated Resources – Programs Subject to 

Apportionment 

0 400 400

4610 Allotments-Realized Resources 700 50 750

4902 Delivered Orders – Obligations, Paid 200 150 350

TOTAL 900 900 600 600 1,500 1,500

Proprietary

1010 Fund Balance With Treasury (NE) 700 50 750

1310(Fxx) Accounts Receivable 10 10 0 0

1340(N) Interest Receivable 70 70

1350(N) Loans Receivable 100 100

1399(N) Allowance for Subsidy 20 20

2180(N) Loan Guarantee Liability 190 190

2990(Fxx) Other Liabilities Without Related Budgetary Obligations 10 10 0 0

2985(F99) Liability for Non-Entity Assets Not Reported on the Statement 

of Custodial Activity

10 10

3101 Unexpended Appropriations – Appropriations Received 900 900

3107 Unexpended Appropriations - Used 200 200

3310 Cumulative Results of Operations

5700 Expended Appropriations 200 200

5775(Fxx) Nonbudgetary Financing Sources Transferred In 10 10 0 0

5776(Fxx) Nonbudgetary Financing Sources Transferred Out 10 10 0 0

5791(Fxx) Adjustments to Financing Sources - Reestimate 10 10 0 0

5994(F99) Offset to Non-Entity Accrued Collections - Statement of 

Changes in Net Position

10 10 0

6100(N) Operating Expenses/Program Costs 200 200

6199(N) Adjustment to Subsidy Expense

6800(N) Future Funded Expenses 10 10

TOTAL 1,110 1,110 230 230 20 20 20 20 1,330 1,330
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

104 8/22/2007

STATEMENT OF BUDGETARY RESOURCES 

For the 1st Quarter Ended December 31, Year 1

Budgetary Resources:

 1. Unobligated balance, brought forward, Oct. 1: 0

 2. Recoveries of prior-year unpaid obligations

 3. Budget authority

3A1. Appropriation (4115E) 900

3D1. Spending authority from offsetting collections (4271E) 200

 4. Nonexpenditure transfers, net, anticipated and actual

 5. Temporarily not available pursuant to Public Law

 6. Permanently not available 

 7. Total Budgetary Resources 1,100

Status of Budgetary Resources:

8. Obligations incurred:

8A. Direct (4902E) 350

9. Unobligated balance (currently available 4610E) 750 

10. Unobligated balance not available _________

11. Total status of budgetary resources 1,100

Change in Obligated Balance:

12. Obligated balance, net 0

13. Obligations incurred net (4902E) 350

14. Less: Gross outlays (4902E) 350

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations, actual

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period (4801E/4901E) 0

NET OUTLAYS

19. Net Outlays:

19A. Gross outlays (4902E) 350

19D. Net outlays 350
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

105 8/22/2007

CONSOLIDATED BALANCE SHEET

As of 1st Quarter December 31, Year 1

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 750

6. Total intragovernmental 750

Assets with Public:

9. Accounts receivable, net 0

11. Direct loan and loan guarantees, net (1340E,1350E, 1399E) 150

 

15. Total assets 900

Liabilities:

Intragovernmental:

19. Other (2985E) 10

Liabilities with Public:

22. Loan guarantee liability (2180E) 190

28. Total Liabilities 200

 

Net Position:

31. Unexpended appropriations – other funds (3100B, 3101E, 3107E) 700

33. Cumulative results of operations – other funds (3310B, 5700E, 5775E, 5766E, 5791E

5994E, 6100E, 6199E, 6800E) 0

34. Total net position 700

35. Total liabilities and net position 900
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

106 8/22/2007

CONSOLIDATED STATEMENT OF NET COST

For the 1st Quarter Ended December 31, Year 1

Program costs:

Program A:

1. Gross costs (6100E, 6800E) 190

3. Net program costs 190

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs 0__ 

6. Net cost of operations 190 
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

107 8/22/2007

Year 1 – 4th Quarter, Yearend Reporting

Descriptions Program Fund Financing Fund GFR Account

General Fund

of Treasury 

G/L

1. The agency agrees to make 

guarantees, subject to 3rd party 

lenders and their borrowers 

meeting conditions placed on 

them.

Obligated subsidy to be transferred to financing 

fund:

Budgetary (TC: B306)

4610 Allotments-Realized 

Resources 300

 4801 Undelivered Orders – Obligation, 

Unpaid 300

Proprietary

None

To recognize the subsidy to be transferred from 

the program fund:

Budgetary (TC: C101)

4221 Unfilled Customer Order

Without Advance 300

 4070 Anticipated Collections From Fed 

Sources 300

To record allotment from #2 (TC: A122)

4590 Apportionments – Anticipated 

Resources – Program subject to 

Apportionments 300

4610 Allotments-Realized

Resources 300

Proprietary

None

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

2. To record payment of subsidy 

to financing fund.

Budgetary (TC: A146)

4801 Undelivered Orders –

Obligation, Unpaid 300

 4902 Delivered Orders – Obligation, 

Paid 300

Proprietary (TC: A146, B134)

6100(N) Operating Exp 300

1010 Fund Balance With 

Treasury 300

3107 Unexpended Appropriation

– Used 300

5700 Expended

Appropriation 300

Budgetary (TC: C103)

4271 Actual Program Fund Subsidy

Collected 300

 4221 Unfilled Customer Order

Without Advance 300

Proprietary (TC: C103)

1010 Fund Balance With 

Treasury 300

 2180(N)Loan Guarantee Liability 300

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

3. The agency paid third party 

lender claims of $220.

Budgetary

None

Proprietary

None

Budgetary (TC: B104)

4610 Allotments-Realized Resources 220

 4902 Delivered Orders – Obligation, 

paid 220

Proprietary (TC: B104)

2180(N) Loan Guarantee Liability 220

 1010 Fund Balance With Treasury 220

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

108 8/22/2007

Descriptions Program Fund Financing Fund GFR Account

General Fund

of Treasury 

G/L

4. To establish receivable for 

defaulted loan.

Assume the following:

Loan receivable - $200

Interest receivable - $150

PV of the loan is - $250

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary (TC: C428)

1340(N) Interest Receivable 150

1350(N) Loans Receivable 200

1399(N) Allowance for Subsidy 100

2180(N) Loan Guarantee 

Liability 250

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

5A. To record downward 

reestimate of subsidy expense.

See Credit Reform Case Studies 

for detail illustrations and 

explanations.

Budgetary

None

Proprietary (TC: D146)

5791(FXX) Adjustment to Financing 

Sources – Reestimate 80

 6800(N) Future Funded Expenses 80

Budgetary

None

Proprietary (TC: D147)

2180(N) Loan Guarantee Liability 80

 5791(FXX) Adjustment to Financing 

Sources – Reestimate 25 80

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

5B. To record accrual of downward 

subsidy. The transfer of the cash 

is not done until the subsequent 

year.

Apportionment and allotment does 

not happen until year 2; therefore,

USSGL account 4901 is not 

recorded in year 1. 

In this loan program downward 

reestimate is transferred to the 

GFR account but there are certain 

loan programs where downward 

reestimate is not transfer to the 

GFR account.

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary (TC: D148)

5776(Fxx)

26 Nonbudgetary Financing 

Sources Transferred Out 80

 2990(Fxx) Other Liabilities without Related 

Budgetary Obligations 80

Budgetary

None

Proprietary (TC: C420, C405)

1310(Fxx) Accounts

Receivable 80

 5775(Fxx) Nonbudgetary 

Financing Sources 

Transferred In 80

5994(F99) Offset to Non-Entity 

Accrued Collections - Statement of 

Changes in Net Position 80

 2985(F99) Liability for Non-Entity 

Assets Not Reported on 

the Statement of Custodial 

Activity 80

Budgetary

None

Proprietary

None – No entry is 

made until receivable 

is collected.

 25 The new adjustment to financing account was created to adjust the expense and loan guarantee liability for downward reestimate of subsidy expense without impacting the fund balance and 

the budget balance. The transfer pair was considered but it was not used since no actual transfer of fund balance was taking place between the funds. The fund balance remained in the 

financing fund. Some of the transactions illustrated in this scenario will impact credit reform case studies and as a result some changes to the credit reform case studies will be made. 26 Partner code FXX for USSGL accounts 5775 and 5776 in this scenario should be the collecting agency’s 2-digit agency code. 
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

109 8/22/2007

Year 1 - Preclosing Trial Balance

Program Fund Financing Fund GFR Eliminations Consolidate

d

Budgetary DR CR DR CR DR CR DR CR DR CR

4070 Anticipated Collections From Federal Sources 100 100

4115 Loan Subsidy Appropriation 900 900

4221 Unfilled Customer Orders Without Advance 0

4271 Actual Program Fund Subsidy Collected 500 500

4590 Apportionments – Anticipated Resources – Programs 

Subject to Apportionment 

100 100

4610 Allotments-Realized Resources 400 130 530

4902 Delivered Orders – Obligations, Paid 500 370 870

TOTAL 900 900 600 600 1,500 1,500

Proprietary

1010 Fund Balance With Treasury 400 130 530

1310(Fxx) Accounts Receivable 90 90 0 0

1340(N) Interest Receivable 220 220

1350(N) Loans Receivable 300 300

1399(N) Allowance for Subsidy 120 120

2180(N) Loan Guarantee Liability 440 440

2990(Fxx) Other Liabilities Without Related Budgetary Obligations 90 90 0 0

2985(F99) Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity

90 90

3101 Unexpended Appropriations – Appropriations Received 900 900

3107 Unexpended Appropriations - Used 500 500

3310 Cumulative Results of Operations

5700 Expended Appropriations 500 500

5775(Fxx) Nonbudgetary Financing Sources Transferred In 90 90 0 0

5776(Fxx) Nonbudgetary Financing Sources Transferred Out 90 90 0 0

5791(Fxx) Adjustments to Financing Sources - Reestimate 90 90 0 0

5994(F99) Offset to Non-Entity Accrued Collections -

Statement of Changes in Net Position

90 90

6100 Operating Expenses/Program Costs 500 500

6199(N) Adjustment to Subsidy Expense

6800(N) Future Funded Expenses 90 90

TOTAL 1,490 1,490 740 740 180 180 180 180 2,140 2,140
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

110 8/22/2007

Year 1, Preclosing Adjusting Entry

Description Financing Fund

To record adjustment for 

anticipated resources not realized.

Budgetary Entry (TC: F112)

4590 Apportionments – Anticipated Resources – Programs Subject to Apportionment 100

4070 Anticipated Collections From Federal Sources 100

Proprietary Entry

None
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

111 8/22/2007

Year 1 - Preclosing Adjusted Trial Balance

Program Fund Financing Fund GFR Eliminations Consolidated

Budgetary DR CR DR CR DR CR DR CR DR CR

4070 Anticipated Collections From Federal Sources 0 0 0

4115 Loan Subsidy Appropriation 900 900

4221 Unfilled Customer Orders Without Advance 0

4271 Actual Program Fund Subsidy Collected 500 500

4590 Apportionments – Anticipated Resources –

Programs Subject to Apportionment 

0 0 0

4610 Allotments-Realized Resources 400 130 530

4902 Delivered Orders – Obligations, Paid 500 370 870

TOTAL 900 900 500 500 1,500 1,500

Proprietary

1010 Fund Balance With Treasury 400 130 530

1310(Fxx) Accounts Receivable 90 90 0 0

1340(N) Interest Receivable 220 220

1350(N) Loans Receivable 300 300

1399(N) Allowance for Subsidy 120 120

2180(N) Loan Guarantee Liability 440 440

2990(Fxx) Other Liabilities without Related 

Budgetary Obligations

90 90 0 0

2985(F99) Liability for Non-Entity Assets Not Reported 

on the Statement of Custodial Activity

90 90

3101 Unexpended Appropriations – Appropriations 

Received

900 900

3107 Unexpended Appropriations - Used 500 500

3310 Cumulative Results of Operations

5700 Expended Appropriations 500 500

5775(Fxx) Nonbudgetary Financing Sources Transferred

In 

90 90 0 0

5776(Fxx) Nonbudgetary Financing Sources Transferred

Out 

90 90 0 0

5791(Fxx) Adjustments to Financing Sources -

Reestimate

90 90 0 0

5994(F99) Offset to Non-Entity Accrued Collections -

Statement of Changes in Net Position

90 90

6100 Operating Expenses/Program Costs 500 500

6199(N) Adjustment to Subsidy Expense

6800(N) Future Funded Expenses 90 90

TOTAL 1,490 1,490 740 740 180 180 90 90 2,140 2,140
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

112 8/22/2007

STATEMENT OF BUDGETARY RESOURCES 

For the Year Ended, September 30, Year1

Budgetary Resources:

 1. Unobligated balance, brought forward, Oct. 1: 0

 2. Recoveries of prior-year unpaid obligations

 3. Budget authority

3A. Appropriation (4115E) 900

3D. Spending authority from offsetting collections (4271E) 500

 4. Nonexpenditure transfers, net, anticipated and actual

 5. Temporarily not available pursuant to Public Law

 6. Permanently not available 

 7. Total Budgetary Resources 1,400

Status of Budgetary Resources:

8. Obligations incurred:

8A. Direct (4902E) 870

9. Unobligated balance (currently available 4610E) 530 

10. Unobligated balance not available _________

11. Total status of budgetary resources 1,400

Change in Obligated Balance:

12. Obligated balance, net 0

13. Obligations incurred net 870

14. Less: Gross outlays 870

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations, actual

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period (4801E/4901E) 0

NET OUTLAYS

19. Net Outlays:

19A. Gross outlays (4902E) 870

19D. Net outlays 870
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

113 8/22/2007

CONSOLIDATED BALANCE SHEET

As of September 30, Year 1

Assets:

 Intragovernmental:

1. Fund balance with Treasury (1010E) 530

6. Total intragovernmental 530

Assets with Public:

9. Accounts receivable, net 0

11. Direct loan and loan guarantees, net (1340E,1350E,1399E) 400

 

15. Total assets 930

Liabilities:

Intragovernmental:

19. Other (2985E) 90

Liabilities with Public:

22. Loan guarantee liability (2180E) 440

28. Total Liabilities 530

Net Position:

31. Unexpended appropriations – other funds (3100B, 3101E, 3107E) 400

33. Cumulative results of operations – other funds (3310B, 5700E, 5775E, 5766E, 5791E

5994E, 6100E, 6199E, 6800E) 0

34. Total net position 400

35. Total liabilities and net position 930
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

114 8/22/2007

USSGL 2108: YEAREND CLOSING STATEMENT

YEAR 1

Program Fund Financing Fund

Column 5 (1010E) 400 130

Column 9 (4801E)

Column 11 (4610E) 400 130

Total -0- - 0 -

CONSOLIDATED STATEMENT OF NET COST

For the Year Ended September 30, Year 1

Program costs:

Program A:

1. Gross costs (6100E, 6800E) 410

3. Net program costs 410

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs 0__ 

6. Net cost of operations 410 
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

115 8/22/2007

] CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

For the Year Ended September 30, Year 1

Earmarked 

Funds

All Other Funds Eliminations Consolidated

Cumulative Results of Operations 

1. Beginning balances

2. Adjustments

3. Beginning balance, as adjusted 0 0

Budgetary Financing Sources:

 4. Other adjustments

 5. Appropriations used (5700) 500 500

 6. Non-exchange revenue

 7. Donations and forfeitures of cash and cash equivalents

 8. Transfers in/out without reimbursement

 9. Other

Other Financing Sources (Non-Exchange):

 10. Donations and forfeitures of property

 11. Transfers in/out reimbursement (5775E, 5776E) 0 0

 12. Imputed financing

 13. Other (5791E, 5994E) (90) (90)

14. Total Financing Sources CALC (4...13) 410 410

15. Net Cost 410 410

16. Net Change CALC (14-15) 0 0

17. Cumulative Results of Operations CALC (3+16) 0 0

Unexpended Appropriations:

18. Beginning balance 0 0

19. Adjustments

20. Beginning balance, as adjusted 0 0

Budgetary Financing Sources:

 21. Appropriations received (3101) 900 900

 22. Appropriations transferred in/out
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

116 8/22/2007

Earmarked 

Funds

All Other Funds Eliminations Consolidated

 23. Other adjustments

 24. Appropriations used (3107) (500) (500)

 25. Total Budgetary Financing Sources CALC (21..24) 400 400

26. Total Unexpended Appropriations CALC (20+25) 400 400

27. Net Position CALC (17+26) 400 400
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections 

Scenario 6. Collection of Downward Reestimate of Subsidy Expense

117 8/22/2007

COMBINED STATEMENT OF FINANCING

For the Year Ended September 30, Year 1

Resources Used to Finance Activities:

Budgetary Resources Obligated

1. Obligations incurred (4801 E-B/ 4902 E / 4901 E-B) 870

2. Less: Spending authority from offsetting collections and recoveries (4271E) 500

3. Obligations net of offsetting collections and recoveries CALC (1-2) 370

4. Less: Offsetting receipts 0

5. Net obligations (CALC 3-4)

370

Other Resources

7. Transfers in/out without reimbursement (5775E, 5776E) (0)

9. Other (5791E, 5994E) (90)

10. Net other resources used to finance activities CALC (6..9) (90)

11. Total resources used to finance activities CALC (5+10) 280

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

13. Resources that fund expenses recognized in prior periods (6800E) 90

14. Budgetary offsetting collections and receipts that do not affect net cost of operations

 14a. Credit program collections which increase liabilities for loan guarantees or allowances for subsidy (4271E) (500)

 14b. Other 0

15. Resources that finance the acquisition of assets (4902E for FF) 370 

16. Other resources or adjustments to net obligated resources that do not affect net cost of operations (5775E, 5776E, 5791E, 5994E) (90) 

17. Total resources used to finance items not part of the net cost of operations CALC (12..16) (130)

 

18. Total resources used to finance the net cost of operations CALC (11-17) 410 

Components of the Net Cost of Operations that will not Require or Generate Resources in the Current Period:

Components Requiring or Generating Resources in Future Periods:

24. Total components of Net Cost of Operations that will require or generate resources in future periods CALC (19..23) 0______

Components not Requiring or Generating Resources:

28. Total components of Net Cost of Operations that will not require or generate resources CALC (25..27) 0______

29. Total components of net cost of operations that will not require or generate resources in the current period CALC (24+28) 0______

30. Net Cost of Operations CALC (18+29) 410 
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense, Year 1

118 8/22/2007

BUDGET PROGRAM AND FINANCING

(P&F) SCHEDULE PRIOR-YEAR ACTUAL COLUMN 

For Year 1 Reporting

Obligations by program activity:

1000 Total new obligations (+) (4801E-B/4902E/4901E-B) 870

Budgetary resources available for obligation:

2140 Unobligated balance carried forward, start of year (4201B) 0

2200 New budget authority (gross) (+) (sum 4000..6962) 1,400

2440 Unobligated balance carried forward, end of year 0 

New budget authority (gross), detail:

4000 Appropriation (+) (4119E, 4115E) 900

5800 Spending authority from Offsetting Collections (4271) 500

Change in obligated balances:

7240 Obligated balance, start of year (+) 0

7310 Total new obligations (unexpired) (+) (same as line 1000) 870

7320 Total outlays (gross) (-) (unexpired and expired) (4902E) (870)

7440 Obligated balance, end of year (+) (4801E/4901E) 0 

Outlays (gross), detail (unexpired and expired):

8690 Outlays from new discretionary authority (+) (4902E) 870 

Offsets:

8800 Federal sources (-4271E) (500)

8890 Total offsetting collections (cash) (500)

Net budget authority and outlays:

8900 Budget authority (net) (+) (sum 2200 – (8800..8845), 8895, 8896) 500

9000 Outlays (net) (+) (sum (8690..8698) – (8800..8845)) 370

Note: Assume this is a discretionary program.
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense, Year 1

119 8/22/2007

Closing Entries:

C1) To record consolidation of actual resources. Budgetary Entry (TC: F302)

4201 Total Actual Resources - Collected 1,400

4115 Loan Subsidy Appropriation 900

4271 Actual Program Fund Subsidy Collected 500

Proprietary Entry

None

C2) To record paid delivered orders to total actual 

resources.

Budgetary Entry (TC: F314)

4902 Delivered Orders – Obligations, Pd 870

4201 Total Actual Resources - Collected 870

Proprietary Entry

None

C3) To record the closing of unobligated balance in 

programs subject to apportionment to 

unapportioned authority for unexpired multi–year 

and no-year funds.

Budgetary Entry (TC: F308)

4610 Allotments-Realized Resources 530

4450 Unapportioned Authority 530

Proprietary Entry

None

C4) To record the closing of revenue, expense, and 

other financing source accounts to cumulative 

results of operations.

Budgetary Entry

None

Proprietary Entry (TC: F336)

3310 Cumulative Results of Operations 590

5994(F99) Offset to Non-Entity Accrued Collections - Statement of 

Changes in Net Position 90

6100 Operating Expenses 500

5700 Expended Appropriation 500

6800 Future Funded Expense 90

3310 Cumulative Results of Operations 590

C5) To record the closing of appropriations 

received and used to unexpended 

appropriations.

Budgetary Entry

None

Proprietary Entry (TC: F342)

DR 3101 Unexpended Aappropriations – Appropriation Received 900 

 CR 3100 Unexpended Aappropriations 400 

CR 3107 Unexpended Appropriations – Used 500 
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense, Year 1

120 8/22/2007

Year 1- Post-closing Trial Balance

Program Fund Financing Fund GFR Eliminations Consolidated

Budgetary DR CR DR CR DR CR DR CR DR CR

4201 Total Actual Resources - Collected 400 130 530

4450 Unapportioned Authority 400 130 530

TOTAL 400 400 130 130 530 530

Proprietary

1010 Fund Balance With Treasury (NE) 400 130 530

1310(Fxx) Accounts Receivable 90 90 0 0

1340(N) Interest Receivable 220 220

1350(N) Loans Receivable 300 300

1399(N) Allowance for Subsidy 120 120

2180(N) Loan Guarantee Liability 440 440

2990(Fxx) Other Liabilities Without Related 

Budgetary Obligations

90 90 0 0

2985(F99) Liability for Non-Entity Assets Not Reported 

on the Statement of Custodial Activity

90 90

3101 Unexpended Appropriations – Appropriations 

Received

400 400

3310 Cumulative Results of Operations 0 0 0

TOTAL 400 400 650 650 90 90 90 90 1,050 1,050
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

121 8/22/2007

Year 2 - Yearend

Description Program Fund Financing Fund GFR Account General Fund

of Treasury G/L

1. To apportion and allot 

downward reestimate of subsidy 

expense that needs to be returned 

to a GFR account. 

Note: The downward reestimate of 

subsidy expense (USSGL account 

6800) was transferred to a 

program fund in year 2 to ensure 

that no net cost item is reported in 

the financing fund. Therefore, 

when funding is available in a 

financing fund, a reclassification of 

unfunded to funded should be 

done at this time in the program 

and financing fund.

Budgetary

None

Proprietary (TC: D113)

6800(N) Future Funded 

Expense 90

 6199(N) Adjustment to Subsidy 

Expense 90

Budgetary (TC: A116, A120, D112)

4450 Unapportioned Authority 90

 4510 Apportionments 90

4510 Apportionments 90

 4610 Allotments-Realized

Resources 90

4610 Allotments-Realized

Resources 90

4901 Delivered Orders –

Obligation, unpaid 90

Proprietary (TC: D112)

2990(Fxx) Other Liabilities Without Related 

Budgetary Obligations 90

 2190(Fxx) Other Liabilities With 

Related Budgetary Obligations 90 

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

2. To transfer money to a GFR

account.

Budgetary

None

Proprietary

None

Budgetary (TC: B110)

4901 Delivered Orders – Obligation, 

unpaid 90

 4902 Delivered Orders –

Obligation, paid 90

Proprietary (TC: B110)

2190(Fxx) Other Liabilities With Related 

Budgetary Obligations 90

 1010 Fund Balance With Treasury 90

Budgetary

None

Proprietary (TC: C143, D585)

1010 Fund Balance With

Treasury 90

 1310(Fxx) Accounts Receivable 90

5993(F99) Offset to Non-Entity 

Collections - Statement of Changes in Net 

Position 90

 5994(F99) Offset to Non-Entity 

Accrued Collections -

Statement of Changes in Net 

Position 90

Budgetary

None

Proprietary

Cash 90

 Liability for Agency Fund 

 Balance90
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

122 8/22/2007

Year 2 - Preclosing Trial Balance

Program Fund Financing Fund General Fund 

Receipt Account

Eliminations Consolidated

Budgetary DR CR DR CR DR CR DR CR DR CR

4201 Total Actual Resources - Collected 400 130 530

4450 Unapportioned Authority 400 0 40 440

4610 Allotments – Realized Resources 0 0

4902 Delivered Orders – Obligations, Paid 90 90

TOTAL 400 400 130 130 0 0 0 0 530 530

Proprietary

1010 Fund Balance With Treasury 400 40 90 0 530

1310(Fxx) Accounts Receivable 0

1340 Interest Receivable 220 220

1350 Loans Receivable 300 300

1399 Allowance for Subsidy 120 120

2180 Loan Guarantee Liability 440 440

2990(Fxx) Other Liabilities without Related Budgetary Obligations 0 0

2985(F99) Liability for Amounts Collected for the General Fund 0 90 0 90

3100 Unexpended Appropriations – Cumulative 400 400

3310 Cumulative Results of Operations 0 0 0 0 0 0

5993(F99) Offset to Non-Entity Collections - Statement of 

Changes in Net Position

90 90

5994(F99) Offset to Non-Entity Accrued Collections -

Statement of Changes in Net Position

90 90

6199 Adjustment to Subsidy Expense 90 0 90

6800 Future Funded Expenses 90 90

TOTAL 490 490 560 560 180 180 0 0 1,230 1,230
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

123 8/22/2007

Year 2 - Preclosing Adjusting entry

GFR Account General Fund

of Treasury G/L

To record the closing of FBWT collected in a 

general fund receipt account at the end of the 

year. 

Budgetary

None

Proprietary (TC: F124)

2985(F99) Liability for Non-Entity Assets Not Reported on the Statement of 

Custodial Activity 90

 1010 Fund Balance With Treasury27 90

Budgetary

None

Proprietary

Liability for Agency Fund Balance 90

 Transferred In of Equity for General Fund 90

 27 There will be a timing difference between when this adjusting entry is made by the agencies and when Treasury sweeps fund balance in the GFR account at the end of a fiscal year.
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

124 8/22/2007

Year 2 - Preclosing Adjusted Trial Balance

Program Fund Financing Fund General Fund 

Receipt Account

Eliminations Consolidated

Budgetary DR CR DR CR DR CR DR CR DR CR

4201 Total Actual Resources - Collected 400 130 530

4450 Unapportioned Authority 400 0 40 440

4610 Allotments – Realized Resources 0 0

4902 Delivered Orders – Obligations, Paid 90 90

TOTAL 400 400 130 130 0 0 0 0 530 530

Proprietary

1010 Fund Balance With Treasury 400 40 0 0 440

1310(Fxx) Accounts Receivable 0

1340 Interest Receivable 220 220

1350 Loans Receivable 300 300

1399 Allowance for Subsidy 120 120

2180 Loan Guarantee Liability 440 440

2990(Fxx) Other Liabilities Without Related 

Budgetary Obligations

0 0

2985(F99) Liability for Non-Entity Assets Not Reported 

on the Statement of Custodial Activity

0 0 0 0

3100 Unexpended Appropriations – Cumulative 400 400

3310 Cumulative Results of Operations 0 0 0 0 0 0

5993(F99) Offset to Non-Entity Collections - Statement 

of Changes in Net Position

90 90

5994(F99) Offset to Non-Entity Accrued Collections -

Statement of Changes in Net Position

90 90

6199 Adjustment to Subsidy Expense 90 0 90

6800 Future Funded Expenses 90 90

TOTAL 490 490 560 560 90 90 0 0 1,140 1,140
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

125 8/22/2007

STATEMENT OF BUDGETARY RESOURCES 

For the Year Ended September 30, Year 2

Budgetary Resources:

 1. Unobligated balance, brought forward, Oct. 1: (4201B) 530

 2. Recoveries of prior year unpaid obligations

 3. Budget authority

3A. Appropriation (4119E)

 4. Nonexpenditure transfers, net, anticipated and actual

 5. Temporarily not available pursuant to Public Law

 6. Permanently not available 

 7. Total Budgetary Resources 530___

Status of Budgetary Resources:

8. Obligations incurred

8A. Direct (4902E) 90

9. Unobligated balance (currently available 4610E) 0

10. Unobligated Balance not available (4450E) 440__ 

11. Total status of budgetary resources 530___

Change in Obligated Balance:

12. Obligated BALANCE, NET 0

13. Obligations incurred net (4902E) 90

14. Less: Gross outlays (4902E) 90

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations, actual

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period 0

Net Outlays:

19. Net Outlays 

19A. Gross outlays (4902E) 90

19D. Net outlays 90
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

126 8/22/2007

CONSOLIDATED BALANCE SHEET

As of September 30, Year 2

Assets: 

 Intragovernmental

1. Fund balance with Treasury (1010E) 440

6. Total Intragovernmental

Assets with Public

9. Accounts receivable, net

11. Direct loan and loan guarantees, net (1340E, 1350E, 1399E) 400

 

15. Total assets 840

Liabilities:

 Intragovernmental

19. Other (2985E) 0

Liabilities with Public:

22. Loan guarantee liability (2180E) 440

27. Other 0__

28. Total liabilities 440

 

Net Position:

31. Unexpended appropriations – other funds (3100E) 400

33. Cumulative results of operations – other funds (3310B, 5993E, 5994E, 6199E, 6800E) 0

34. Total net position 0

35. Total liabilities and net position 840
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

127 8/22/2007

USSGL 2108: YEAREND CLOSING STATEMENT

YEAR 2

Program Fund Financing Fund

Column 5 (1010E) 400 dr 40

Column 9 (4801E) 0 cr

Column 11 (4450E, 4610E) 400 cr 40

Total 0 0

CONSOLIDATED STATEMENT OF NET COST

For the Year Ended September 30, Year 2

Program Costs:

Program A:

1. Gross costs (6199E, 6800E) 

3. Net program costs 0

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs 

6. Net cost of operations 0 
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

128 8/22/2007

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

For the Year Ended September 30, Year 2

Earmarked 

Funds

All Other 

Funds Eliminations Consolidated

Cumulative Results of Operations 

1. Beginning balances 0 0

2. Adjustments

3. Beginning balance, as adjusted 0 0

Budgetary Financing Sources:

 4. Other adjustments

 5. Appropriations used

 6. Non-exchange revenue

 7. Donations and forfeitures of cash and cash 

equivalents

 8. Transfers in/out without reimbursement 

 9. Other

Other Financing Sources (Non-Exchange)

 10. Donations and forfeitures of property

 11. Transfers in/out reimbursement 0 0

 12. Imputed financing

 13. Other (5993E, 5994E) 0 0

14. Total Financing Sources CALC (4...13) 0 0

15. Net Cost 

16. Net Change CALC (14-15) 0 0

17. Cumulative Results of operations CALC (3+16) 0 0

Unexpended Appropriations:

18. Beginning balance 200 200

19. Adjustments

20.Beginning balance, as adjusted 400 400
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

129 8/22/2007

Earmarked 

Funds

All Other 

Funds Eliminations Consolidated

Budgetary Financing Sources:

 21. Appropriations received 

 22. Appropriations transferred in/out

 23. Other adjustments

 24. Appropriations used 

 25. Total Budgetary Financing Sources CALC 

(21..24)

0 0

26. Total Unexpended Appropriations CALC 

(20+25)

400 400

27. Net Position CALC (17+26) 400 400
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

130 8/22/2007

COMBINED STATEMENT OF FINANCING

For the Year Ended September 30, Year 2

Resources Used to Finance Activities

Budgetary Resources Obligated:

1. Obligations incurred (4902 E) 90

2. Less: Spending authority from offsetting collections and recoveries (4271E) 0_

3. Obligations net of offsetting collections and recoveries CALC (1-2) 90

4. Less: Offsetting receipts 0_

5. Net obligations (CALC 3-4) 90

Other Resources:

7. Transfers in/out without reimbursement 0

9. Other (5993E, 5994E) 0

10. Net other resources used to finance activities CALC (6..9) 0_

11. Total resources used to finance activities CALC (5+10) 90

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

16. Other resources or adjustments to net obligated resources that do not affect net cost of operations (5993E, 5994E) 0

17. Total resources used to finance items not part of the net cost of operations CALC (12..16) 0

 

18. Total resources used to finance the net cost of operations CALC (11-17) 90 

Components of the Net Cost of Operations that will not Require or Generate Resources in the Current Period:

Components Requiring or Generating Resources in Future Periods:

21. Upward/Downward reestimates of credit subsidy expense (6199E) (90)

24. Total components of Net Cost of Operations that will require or generate resources in future periods CALC (19..23) (90)

Components not Requiring or Generating Resources:

25. Depreciation and amortization 0

28. Total components of Net Cost of Operations that will not require or generate resources CALC (25..27) 0

29. Total components of net cost of operations that will not require or generate resources in the current period CALC (24+28) (90)

 

30. Net Cost of Operations CALC (18+29) 0
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

131 8/22/2007

BUDGET PROGRAM AND FINANCING

(P&F) SCHEDULE PRIOR-YEAR ACTUAL COLUMN 

For Year 2 Reporting

Obligations by program activity:

1000 Total new obligations (+) (4801E-B/4902E / 4901E-B) 90

Budgetary resources available for obligation:

2140 Unobligated balance carried forward, start of year (4201B) 530

2200 New budget authority (gross) (+) (sum 4000..6962) 0

2440 Unobligated balance carried forward, end of year (4450) 440 

New budget authority (gross), detail:

4000 Appropriation (+) (4119E) 0 

Change in obligated balances:

7240 Obligated balance, start of year (+) 0

7310 Total new obligations (unexpired) (+) (same as line 1000) 90

7320 Total outlays (gross) (-) (unexpired and expired) (4902E) (90) 

7440 Obligated balance, end of year (+) (4801E/4901E) 0

Outlays (gross), detail (unexpired and expired):

8690 Outlays from new discretionary authority (+) (4902E) 90 

Net budget authority and outlays:

8900 Budget authority (net) (+) (sum 2200 – (8800..8845), 8895, 8896) 0

9000 Outlays (net) (+) (sum (8690..8698) – (8800..8845)) 90

Note: Assume this is a discretionary program.
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Collection of Downward Reestimate of Subsidy Expense– Year 2

132 8/22/2007

Closing Entries:

C1) To record paid delivered orders to total actual 

resources.

Budgetary Entry (TC: F314)

 4902 Delivered Orders – Obligations, Paid 90

 4201 Total Actual Resources - Collected 90

Proprietary Entry

None

C2) To record the closing of revenue, expense, and 

other financing source accounts to cumulative 

results of operations.

Budgetary Entry

None

Proprietary Entry(TC: F336)

3310 Cumulative Results of Operations 180

5993(F99) Offset to Non-Entity Collections - Statement of Changes in Net 

Position 90

6800 Future Funded Expenses 90

5994(F99) Offset to Non-Entity Accrued Collections - Statement of Changes in Net 

Position 90

6199 Adjustment to Subsidy Expense 90

CR 3310 Cumulative Results of Operations 180
General Fund Receipt (GFR) Account Guide

Section IV. Non-Custodial Statement Collections

Scenario 6. Downward Re-estimate of Subsidy Expense – Year 2

133 8/22/2007

Year 2, Post-Closing Trial Balance 

Program Fund Financing Fund General Fund 

Receipt Account

Eliminations Consolidated

Budgetary DR CR DR CR DR CR DR CR DR CR

4201 Total Actual Resources -

Collected

400 40 440

4450 Unapportioned Authority 400 40 440

TOTAL 400 400 40 40 440 440

Proprietary

1010 Fund Balance With Treasury 

(NE)

400 40 440

1340 Interest Receivable 220 220

1350 Loans Receivable 300 300

1399 Allowance for Subsidy 120 120

2180 Loan Guarantee Liability 440 440

2990(Fxx) Other Liabilities without 

Related Budgetary Obligations

3100 Unexpended Appropriations 

– Cumulative

400 400

3310 Cumulative Results of 

Operations

0 0 0

TOTAL 400 400 560 560 0 0 0 0 960 960
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7. Seigniorage 

134 8/22/2007

GFR Account Scenario 7

Non-Custodial Statement Collections:

Seigniorage

SFFAS No. 7, paragraph 305. “Seigniorage.--Seigniorage is the face value of newly minted coins less the cost 

of production (which includes the cost of the metal, manufacturing, and transportation). It results from the 

sovereign power of the Government to directly create money and, although not an inflow of resources from the 

public, does increase the Government's net position in the same manner as an inflow of resources. Because it 

is not demanded, earned, or donated, it is an other financing source rather than revenue. It should be 

recognized as an other financing source when coins are delivered to the Federal Reserve Banks in return for 

deposits.”

Beginning Balance

DR CR

Budgetary

4201 Total Actual Resources – Collected 800

4450 Unapportioned Authority 800

TOTAL 800 800

Proprietary

1010 Fund Balance With Treasury 800

3310 Cumulative Results of Operations 800

TOTAL 800 800
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7. Seigniorage 

135 8/22/2007

Year 2 – 1st Quarter

Description Program Fund (20X415928) GFR Account (20 0610) General Fund

of Treasury G/L

1. To record apportionment, and 

allotment. Apportionment and 

allotment includes $800 of 

resources from the previous 

year.

Budgetary (TC: A140, A116, A118, A120)

4060 Anticipated Collection From 

Non-Federal Sources 1,700

4450 Unapportioned Authority 1,700

4450 Unapportioned Authority 2,500

4510 Apportionments 800

 4590 Apportionments – Anticipated 

Resources – Program subject to 

Apportionments 1,700

4510 Apportionment 800

4610 Allotments-Realized Resources 800

Proprietary

None

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

2. To record costs incurred to 

manufacture coins. 

Budgetary (TC: B107)

4610 Allotments-Realized Resources 500

4902 Delivered Orders –

Obligation, paid 500

Proprietary (TC: B107)

6100N Operating Expenses 500

1010 Fund Balance With Treasury 500

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

3. To record purchase of raw 

materials.

Budgetary (TC: B306, B402, B110)

4610 Allotments-Realized Resources 200

4902 Delivered Orders –

Obligation, paid 200

Proprietary (TC: B402, B110)

1525 Inventory – Raw materials 200

1010 Fund Balance With Treasury 200

Memorandum entry (G122)

8803 Purchases of Inventory and Related

Properties 200

8801 Offset for Purchases of

Assets 200

 28 U.S. Mint Public Enterprise Fund
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7. Seigniorage 

136 8/22/2007

Description Program Fund (20X415928) GFR Account (20 0610) General Fund

of Treasury G/L

4. To record reclassification of 

cost incurred to capitalized cost 

for minted coins.

Budgetary

None

Proprietary (TC: D514)

1526 Inventory – Work – In – Process 500

6610 Cost Capitalization Offset 500

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

5. To record raw materials used 

to produce coins.

Budgetary 

None

Proprietary (TC: D516)

1526 Inventory – Work – In – Process 200

1525 Inventory – Raw materials 200

6. To record completion of 

manufacturing coins. A

reclassification of Inventory from 

Work-In-Process to Inventory 

Finished Goods is recorded.

Note: The program agency may 

make additional cost accounting 

entries. This GFR guidance only 

shows a simplified entry for 

manufacturing coins. 

Budgetary

None

Proprietary (TC: D520)

1527 Inventory - Finished Goods 700

1526 Inventory – Work – In - Process 700

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

7. To record payment of $900 

from Federal Reserve Bank 

(FRB).

FRB makes a payment for coins 

manufactured. If the payment is 

greater than the manufacturing 

cost then by law, the surplus 

also known as seigniorage is 

deposited into the GFR account. 

Note: Report on the USSGL

224:

$200 as a negative receipt (-) in 

column 2 for TAS 4159 and as a 

collection (+) in column 2 for 

TAS 0610.

Budgetary (TC: C109, A122, A120)

4266 Other Actual Business Type Collection

– NonFederal 700

 4060 Anticipated Collection from 

NonFederal Sources 700

4590 Apportionments – Anticipated 

Resources – Program subject to 

Apportionments 700

 4510 Apportionments 700

4510 Apportionments 700

4610 Allotments-Realized Resources 700

Proprietary (TC: E408, C109)

6500(N) Cost of Goods Sold 700

1527 Inventory - Finished Goods 700

1010 Fund Balance with Treasury 700

5100(N) Revenues From Goods Sold 700

Budgetary

None

Proprietary (TC:C145, C147)

1010 Fund Balance With Treasury29200

5795(N) Seigniorage 200

5993(F99) Offset to Non-Entity Collections - Statement of 

Changes in Net Position 200

2985(F99) Liability for Non-Entity Assets Not 

Reported on the Statement of 

Custodial Activity 200

Budgetary

None

Proprietary

Cash 200

Liability for Agency Fund 

Balance 200

 29 Although USSGL account 1010 is deposited in the General Fund of the Treasury, the collecting agency still has to carry the balances of USSGL account 1010 and 2985 on its quarterly 

Balance Sheet. Treasury’s STAR system does not sweep USSGL account 1010 until the yearend. The agency should make a note of this as a reconciling item.
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7. Seigniorage 

137 8/22/2007

1st Quarter - Preclosing Trial Balance

Program Fund GFR Account

DR CR DR CR

Budgetary

4060 Anticipated Collections From Non-Federal Sources 1,000

4201 Total Actual Resources - Collected 800

4266 Other Actual Business-Type Collections From NonFederal Sources

700

4590 Apportionment – Anticipated Resources – Programs 

Subject to Apportionment

1,000

4610 Allotments - Realized Resources 800

4902 Delivered Orders – Obligations, Paid 700

TOTAL 2,500 2,500

Proprietary

1010F Fund Balance With Treasury 800 200

1525 Inventory – Raw Materials 0

1526 Inventory – Work-In-Process 0

1527 Inventory – Finished Goods 0

2985(F99) Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity

200

3310 Cumulative Results of Operations 800

5100N Revenue From Goods Sold 700

5795N Seigniorage 200

5993(F99) Offset to Non-Entity Collections - Statement of 

Changes in Net Position

200

6100N Operating Expenses/Program Costs 500

6500N Cost of Goods Sold 700

6610N Cost Capitalization Offset 500

TOTAL 2,000 2,000 400 400

Memorandum

8803 Purchases of Inventory and Related Properties 200

8801 Offset for Purchases of Assets 200

200 200
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7. Seigniorage 

138 8/22/2007

STATEMENT OF BUDGETARY RESOURCES 

For the 1st Quarter Ended December 31, Year 2

(Program fund)

Budgetary Resources: 

 1. Unobligated balance, brought forward, Oct 1 (4201B) 800

 2. Recoveries of prior year unpaid obligations

 3. Budget authority

3D. Spending authority from offsetting collections (4266E) 700

3D3 Anticipated for rest of the year without advance (4060E) 1,000

 4. Nonexpenditure transfers, net, anticipated and actual

 5. Temporarily not available pursuant to Public Law

 6. Permanently not available 

 7. Total Budgetary Resources 2,500

Status of Budgetary Resources:

8. Obligations incurred

8A. Direct (4801E-B/4902E/ 4901 E-B) 700

9. Unobligated balance (4610E, 4590E) 1,800

10. Unobligated balance not available 0

11. Total Status of Budgetary Resources 2,500

Change in Obligated Balance:

12. Obligated balance, net 0

13. Obligations incurred, net (4902E) 700

14. Less: Gross outlays (4902E) 700

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations, actual

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period 0

Net Outlays:

19. Net Outlays: 

19A. Gross outlays (4902E) 700

19B. Offsetting collections (4266) 700

19C. Less: Distributed offsetting receipts30 0

19D. Net outlays 0

 30 Both Seigniorage –20 0610 and 20X4159 are not classified as distributed receipts in the FAST Book.
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7. Seigniorage 

139 8/22/2007

CONSOLIDATED BALANCE SHEET

As of December 31, Year 2

Assets: 

 Intragovernmental

1. Fund balance with Treasury (1010E) 1,000

 6. Total intragovernmental 1,000

15. Total assets 1,000

Liabilities:

 Intragovernmental:

19. Other (2985E) 200 

28. Total liabilities 200

Net Position:

33. Cumulative results of operations – other funds (3310B, 5100E, 5795E, 5993E, 6100E, 6500E, 6610E) 800

34. Total net position 800

35. Total liabilities and net position 1,000
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

140 8/22/2007

CONSOLIDATED STATEMENT OF NET COST

For the 1st Quarter ended December 31, Year 2

Program costs:

Program A:

1. Gross costs (6100, 6500,6610) 700

2. Less: Earned revenue (5100) 700

3. Net program costs 0

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs 0 

6. Net cost of operations 0
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

141 8/22/2007

Year 2 – 4th Quarter

Description Program Fund (20X415931) GFR Account (20 0610) General Fund

of Treasury G/L

1. To record costs incurred to 

manufacture coins.

Budgetary (TC: B107)

4610 Allotments-Realized Resources 700

4902 Delivered Orders –

Obligation, paid 700

Proprietary (TC: B107)

6100N Operating Expenses 700

1010 Fund Balance With Treasury 700

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

2. To record reclassification 

of cost incurred to capitalized 

cost for minted coins.

Budgetary

None

Proprietary (TC: D514)

1526 Inventory – Work- In – Process 700

6610 Cost Capitalization Offset 700

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

3. To record purchase of raw 

materials.

Budgetary (TC: B306, B402, B110)

4610 Allotments-Realized Resources 100

4902 Delivered Orders –

Obligation, paid 100

Proprietary (TC: B402, B110)

1525 Inventory – Raw materials 100

1010 Fund Balance With Treasury 100

Memorandum entry (G122)

8803 Purchases of Inventory and Related

Properties 100

8801 Offset for Purchases of

Assets 100

4. To record raw materials 

used to produce coins

Budgetary 

None

Proprietary (TC: D516)

1526 Inventory – Work – In – Process 100

1525 Inventory – Raw materials 100

 31 United States Mint Public Enterprise Fund
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

142 8/22/2007

Description Program Fund (20X415931) GFR Account (20 0610) General Fund

of Treasury G/L

5. To record completion of 

manufacturing coins. A 

reclassification of Inventory 

from Work-In-Process to 

Inventory Finished Goods is 

recorded.

Note: The program agency 

may make additional cost 

accounting entries. This GFR 

guidance only shows a 

simplified version for 

manufacturing coins. 

Budgetary

None

Proprietary (TC: D520)

1527 Inventory - Finished Goods 800

1526 Inventory - WIP 800

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None

6. To record payment from 

the Federal Reserve Bank 

(FRB).

FRB makes a payment for 

coins manufactured. If the 

payment is greater than the 

manufacturing cost then by 

law, the surplus also known 

as seigniorage is deposited 

into the GFR account. 

Note: Report on the USSGL

224

$200 as a negative receipt (-) 

in column 2 for TAS 4159 and 

as a collection (+) in column 2 

for TAS 0610.

Budgetary (TC: C109, A122, A120)

4266 Other Actual Business Type Collection –

Non-Federal 800

 4060 Anticipated Collection from 

 NonFederal Sources 800

4590 Apportionments – Anticipated 

Resources – Program Subject to 

Apportionments 800

4510 Apportionments 800

4510 Apportionments 800

4610 Allotments-Realized Resources 800

Proprietary (TC: E408, C109)

6500(N) Cost of Goods Sold 800

1527 Inventory - Finished Goods 800

1010 Fund Balance with Treasury 800

5100(N) Revenues From Goods Sold 800

Budgetary

None

Proprietary (TC: C145, C147)

1010 Fund Balance With Treasury 200

5795(N) Seigniorage 200

5993(F99) Offset to Non-Entity Collections - Statement of 

Changes in Net Position 200

2985(F99) Liability for Non-Entity Assets Not 

Reported on the Statement of 

Custodial Activity 200

Budgetary

None

Proprietary

Cash 200

Liability for Agency Fund 

Balance 200
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

143 8/22/2007

Year 2 - Preclosing Trial Balance

Program Fund GFR Account

DR CR DR CR

Budgetary

4060 Anticipated Collections From Non-Federal Sources 200

4201 Total Actual Resources - Collected 800

4266 Other Actual Business-Type Collections From NonFederal Sources

1,500

4590 Apportionments – Anticipated Resources – Program 

Subject to Apportionments

200

4610 Allotments-Realized Resources 800

4902 Delivered Orders – Obligations, Paid 1,500

TOTAL 2,500 2,500

1010 Fund Balance With Treasury 800 400

1525 Inventory – Raw Materials 0

1526 Inventory – Work-In-Process 0

1527 Inventory – Finished Goods 0

2985(F99) Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity

400

3310 Cumulative Results of Operations 800

5100(N) Revenue From Goods Sold 1,500

5795(N) Seigniorage 400

5993(F99) Offset to Non-Entity Collections - Statement of 

Changes in Net Position

400

6100(N) Operating Expenses/Program Costs 1,200

6500(N) Cost of Goods Sold 1,500

6610(N) Cost Capitalization Offset 1,200

TOTAL 3,500 3,500 800 800

Memorandum

8803 Purchases of Inventory and Related Properties 300

8801 Offset for Purchases of Assets 300

300 300
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

144 8/22/2007

Year 2 - Preclosing Adjusting Entry

Program Fund GFR Account General Fund

of Treasury G/L

1) To record adjustments for anticipated 

resources not realized.

Budgetary (TC F112)

4590 Apportionments – Anticipated

Resources – Program subject

to Apportionments 200

4060 Anticipated Collection 

from Non-Federal Sources 200

Proprietary

None

2) To record the closing of FBWT 

collected in a General Fund receipt 

account at the yearend.

Budgetary

None

Proprietary (TC: F124)

2985(F99) Liability for Non-Entity Assets Not 

Reported on the Statement of 

Custodial Activity 400

1010 Fund Balance With Treasury32400

Budgetary

None

Proprietary

Liability for Agency Fund 

Balance 400

 Transferred In of Equity for 

 General Fund 400

 32 There will be a timing difference between when this adjusting entry is made by the agencies and when Treasury sweeps fund balance in the GFR account at the end of a fiscal year.
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

145 8/22/2007

Year 2 - Preclosing Adjusted Trial Balance

Program Fund GFR Account

DR CR DR CR

Budgetary

4060 Anticipated Collections From Non-Federal Sources 0

4201 Total Actual Resources - Collected 800

4266 Other Actual Business-Type Collections From Non-Federal Sources 1,500

4590 Apportionments – Anticipated Resources – Program Subject to Apportionments 0

4610 Allotments - Realized Resources 800

4902 Delivered Orders – Obligations, Paid 1,500

TOTAL 2,300 2,300

1010 Fund Balance With Treasury 800 0

1525 Inventory – Raw Materials 0

1526 Inventory – Work-In-Process 0

1527 Inventory – Finished Goods 0

2985( F99) Liability for Non-Entity Assets Not Reported on the Statement of Custodial 

Activity

0

3310 Cumulative Results of Operations 800

5100 Revenue From Goods Sold 1,500

5795(N) Seigniorage 400

5993(F99) Offset to Non-Entity Collections - Statement of Changes in Net Position 400

6100(N) Operating Expenses/Program Costs 1,200

6500(N) Cost of Goods Sold 1,500

6610(N) Cost Capitalization Offset 1,200

TOTAL 3,500 3,500 400 400

Memorandum

8803 Purchases of Inventory and Related Properties 300

8801 Offset for Purchases of Assets 300

300 300
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

146 8/22/2007

STATEMENT OF BUDGETARY RESOURCES 

For the Year Ended September 30, Year 2

(Program fund)

Budgetary Resources: 

 1. Unobligated balance, brought forward, Oct 1 (4201B) 800

 2. Recoveries of prior year unpaid obligations

 3. Budget authority

3D. Spending authority from offsetting collections (4266E) 1,500

 

 7. Total Budgetary Resources 2,300

Status of Budgetary Resources:

8. Obligations incurred

8A. Direct (4801E-B/4902E/ 4901 E-B) 1,500

9. Unobligated balance (4610E) 800

10. Unobligated balance not available 0__

11. Total Status of Budgetary Resources 2,300

Change in Obligated Balance:

12. Obligated balance, net 0

13. Obligations incurred, net (4902E) 1,500

14. Less: Gross outlays (4902E) 1,500

15. Obligated balance transferred, net

16. Less: Recoveries of prior year unpaid obligations, actual

17. Change in uncollected customer payments from Federal sources

18. Obligated balance, net, end of period 0

Net Outlays:

19. Net Outlays: 

19A. Gross outlays (4902E) 1,500

19B. Offsetting receipts (4266E) 1,500

19C. Less: Distributed offsetting receipts33 0___

19D. Net outlays 0

 33 Both Seigniorage –20 0610 and 20x4159 are not classified as distributed receipts in the FAST Book.
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

147 8/22/2007

CONSOLIDATED BALANCE SHEET

As of September 30, Year 2

Assets: 

 Intragovernmental

1. Fund balance with Treasury (1010E) 800

 6. Total intragovernmental 800

15. Total assets 800

Liabilities:

 Intragovernmental:

19. Other (2985E) 0 

28. Total liabilities 0

Net Position:

33. Cumulative results of operations – other funds (3310B, 5100E, 5795E, 5993E, 6100E, 6500E, 6610E) 800

34. Total net position 0

35. Total liabilities and net position 800
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

148 8/22/2007

USSGL 2108: YEAREND CLOSING STATEMENT

YEAR 2

(Program Account)

Column 5 (1010E) 800

Column 9 (4801E)

Column 11 (4450E, 4610E) 800

Total 0

CONSOLIDATED STATEMENT OF NET COST

For the Year Ended September 30, Year 2

Program costs:

Program A:

1. Gross costs (6100E, 6500E, 6610E) 1,500

2. Less: Earned revenue (5100E) 1,500

3. Net program costs 0

4. Cost not assigned to programs 0

5. Less: Earned revenues not attributed to programs 0 

6. Net cost of operations 0___
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

149 8/22/2007

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

For the Year Ended September 30, Year 2

Earmarked Funds All Other Funds Eliminations Consolidated

Cumulative Results of Operations:

1. Beginning balances 800 800

2. Adjustments

3. Beginning balance, as adjusted 800 800

Budgetary Financing Sources:

 4. Other adjustments

 5. Appropriations used (5700E)

 6. Non-exchange revenue

 7. Donations and forfeiture of cash and cash 

equivalents

 8. Transfers in/out without reimbursement 

 9. Other 

Other Financing Sources (Non-Exchange):

 10. Donations and forfeitures of property

 11. Transfers in/out reimbursement 0 0

 12. Imputed financing

 13. Other (5795E, 5993E) 0 0

14. Total Financing Sources CALC (4...13) 0 0

15. Total Net Cost 0 0

16. Net Change CALC (14-15) 0 0

17. Cumulative Results of Operations 

CALC (3+16)

800 800

Unexpended Appropriations:

18. Beginning balance

19. Adjustments

20. Beginning balance, as adjusted 0 0

Budgetary Financing Sources:
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

150 8/22/2007

Earmarked Funds All Other Funds Eliminations Consolidated

 21. Appropriations received (3101E)

 22. Appropriations transferred in/out

 23. Other adjustments

 24. Appropriationsused (3107E)

 25. Total Budgetary Financing Sources CALC 

(21..24)

26. Total Unexpended Appropriations CALC 

(20+25)

27. Net Position CALC (17+26) 800 800
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

151 8/22/2007

COMBINED STATEMENT OF FINANCING

For the Year Ended September 30, Year 2

Resources Used to Finance Activities:

Budgetary Resources Obligated

1. Obligations incurred (4902 E) 1,500

2. Less: Spending authority from offsetting collections and recoveries (4266E) 1,500

3. Obligations net of offsetting collections and recoveries (CALC 1-2) 0

4. Less: Offsetting receipts 0

5. Net obligations (CALC 3-4) 0

Other Resources:

7. Transfers in/out without reimbursement 0

9. Other (5993E , 5795E) 0

11. Total resources used to finance activities (CALC 5+10) 0

Resources Used to Finance Items Not Part of the Net Cost of Operations:

12. Change in budgetary resources obligated for goods, services, and benefits ordered but not yet provided (4801 E-B) 0

15. Resources that finance the acquisition of assets (8803E) 300

16. Other resources or adjustments to net obligated resources that do not affect net cost of operations (5993E, 5795E) 0

17. Total resources used to finance items not part of the net cost of operations (CALC 12..16) 300 

18. Total resources used to finance the net cost of operations (CALC 11-17) (300)

Components of the Net Cost of Operations that will not Require

or Generate Resources in the Current Period:

Components Requiring or Generating Resources in Future Periods:

19. Increase in annual leave liability 0

23. Other 0

24. Total components of Net Cost of Operations that will require or generate resources in future periods (CALC 19..23) 0

Components Not Requiring or Generating Resources:

25. Depreciation and amortization 0

27. Other (6500E, 6610E) 300_

28. Total components of the Net Cost of Operations that will not require or generate resources (CALC 25..27) 0

29. Total components of the net cost of operations that will not require or generate resources in the current period (CALC 24+28) 0

 30. Net Cost of Operations (CALC 18+29) 0 
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 - Seigniorage 

152 8/22/2007

BUDGET PROGRAM AND FINANCING

(P&F) SCHEDULE PRIOR-YEAR ACTUAL COLUMN

For the Year Ended September 30, Year 2

(Program Fund)

OBLIGATIONS BY PROGRAM ACTIVITY

1000 Total new obligations (+) (4801E-B/4902E / 4901E-B) 1,500 

BUDGETARY RESOURCES AVAILABLE FOR OBLIGATION

2140 Unobligated balance carried forward, start of year (+4201B) 800

2200 New budget authority (gross) (+) (CALC, sum 4000..6962)

2395 Total new obligations (-) (CALC, same as line 1000, w/ opposite sign) (1,500) 

2440 Unobligated balance carried forward, end of year (+4450, +4610) 800 

NEW BUDGET AUTHORITY (GROSS), DETAIL

4000 Appropriation (+) (4119E) 0 

4300 Appropriation (total) (CALC, sum of 4000-4200) 0

5800 Spending authority from offsetting collections (cash) (+4266E) 1,500

5890 Spending authority from offsetting collections (total) (CALC, sum 5800-5862) 1,500 

CHANGE IN OBLIGATED BALANCES

7240 Obligated balance, start of year (+) 

7310 Total new obligations (unexpired) (+) (CALC, same as line 1000) 1,500 

7320 Total outlays (gross) (unexpired and expired) (-) (4902E) (1,500) 

7440 Obligated balance, end of year (+) (4801E/4901E) 0 

OUTLAYS (GROSS), DETAIL

8690 Outlays from new discretionary authority (+) (4902E) 1,500 

OFFSETS

8840 Offsetting collections from non-Federal sources (-4266E) (1,500)

8890 Total offsetting collections (cash) (1,500)

NET BUDGET AUTHORITY AND OUTLAYS

8900 Budget authority (net) (+) (sum 2200 – (8800..8845), 8895, 8896)

9000 Outlays (net) (+) (sum (8690..8698) – (8800..8845)) (1,500)
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 – Seigniorage

153 8/22/2007

Closing Entries:

C1) To record consolidation of actual resources. Budgetary Entry(TC:F302)

4201 Total Actual Resources – Collected 1,500

4266 Other Actual Business-Type Collection From Non-Federal Sources 1,500

Proprietary Entry

None

C2) To record paid delivered orders to total actual 

resources.

Budgetary Entry (TC F314)

4902 Delivered Order – Obligations, Paid 1,500

4201 Total Actual Resources – Collected 1,500

Proprietary Entry

None

C3) To record the closing of unobligated balances in 

programs subject to apportionment to 

unapportioned authority for unexpired multi-year 

and no-year funds.

Budgetary Entry(TC: F308)

4610 Allotments-Realized Resources 800

4450 Unapportioned Authority 800

Proprietary Entry

None

C4) To record the closing of revenue, expense, and 

other financing source to cumulative results of 

operations.

Budgetary Entry

None

Proprietary Entry(TC:F336)

5100N Revenues from Goods Sold 1,500

5795N Seigniorage 400

6610 Cost Capitalization Offset 1,200

3310 Cumulative Results of Operations 3,100

3310 Cumulative Results of Operations 3,100

5993F99 Offset to Non-Entity Collections – Statement of Change in Net Position 400

6100N Operating expense 1,200

6500 Cost of Goods Sold 1,500

C5) To record the closing of memorandum accounts 

for purchases.

Budgetary Entry

None

Proprietary Entry(TC:F370)

8801 Offset for Purchases of Assets 100

8803 Purchases of Inventory and Related Properties 100
General Fund Receipt (GFR) Account Guide

Section IV - Non-Custodial Statement Collections

Scenario 7 – Seigniorage

154 8/22/2007

Post - Closing Trial Balance

Program Fund GFR Account

DR CR DR CR

Budgetary

4201 Total Actual Resources - Collected 800

4610 Allotments-Realized Resources 800

TOTAL 800 800

Proprietary

1010F Fund Balance With Treasury (NE) 800 0

1526N Inventory – Work-In-Process 0

1527N Inventory – Finished Goods 0

3310 Cumulative Results of Operations 800

TOTAL 800 800 0 0
General Fund Receipt (GFR) Account Guide

Appendix

155 8/22/2007

Appendix A

Miscellaneous Receipt Law34

Subtitle III, Chapter 33, Subchapter I, Section 3302

(a) Except as provided by another law, an official or agent of the United States Government having custody or possession of public 

money shall keep the money safe without—

(1) lending the money; 

(2) using the money; 

(3) depositing the money in a bank; and 

(4) exchanging the money for other amounts. 

(b) Except as provided in section 3718 (b) [1] 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 charge or claim. 

(c)

(1) A person having custody or possession of public money, including a disbursing official having public money not for current 

expenditure, shall deposit the money without delay in the Treasury or with a depositary designated by the Secretary of the 

Treasury under law. Except as provided in paragraph (2), money required to be deposited pursuant to this subsection shall be 

deposited not later than the third day after the custodian receives the money. The Secretary or a depositary receiving a 

deposit shall issue duplicate receipts for the money deposited. The original receipt is for the Secretary and the duplicate is for 

the custodian. 

(2) The Secretary of the Treasury may by regulation prescribe that a person having custody or possession of money required 

by this subsection to be deposited shall deposit such money during a period of time that is greater or lesser than the period of 

time specified by the second sentence of paragraph (1). 

(d) An official or agent not complying with subsection (b) of this section may be removed from office. The official or agent may be 

required to forfeit to the Government any part of the money held by the official or agent and to which the official or agent may be 

entitled. 

 34 See OMB Circular No. A-11, “Basic Budget Laws, What laws govern the budget execution process when funds are actually spent.”
General Fund Receipt (GFR) Account Guide

Appendix

156 8/22/2007

(e) 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. 

(f) When authorized by the Secretary, an official or agent of the Government having custody or possession of public money, or 

performing other fiscal agent services, may be allowed necessary expenses to collect, keep, transfer, and pay out public money and 

to perform those services. However, money appropriated for those expenses may not be used to employ or pay officers and 

employees of the Government. 
General Fund Receipt (GFR) Account Guide

Appendix

157 8/22/2007

Appendix B

Relevant Citations from the Federal Accounting Standards Advisory Board (FASAB) Standards

and Other Sources

Accounting for Revenue and Other Financing Sources, SFFAS No. 7

Accounting standards:

2. Revenue is an inflow of resources that the Government demands, earns, or receives by donation. Revenue comes from two 

sources: exchange transactions and nonexchange transactions. Exchange revenues arise when a Government entity provides goods 

and services to the public or to another Government entity for a price. Another term for "exchange revenue" is "earned revenue." 

Nonexchange revenues arise primarily from exercise of the Government's power to demand payments from the public (e.g., taxes, 

duties, fines, and penalties) but also include donations. The term "revenue" does not encompass all financing sources of 

Government reporting entities, such as most of the appropriations they receive. These other sources of financing do, however, 

provide resource inflows to Government reporting entities, so this Statement includes accounting standards for them.

5. Nonexchange revenues include income taxes, excise taxes, duties, fines, penalties, and other inflows of resources arising from the

Government's power to demand payments, as well as voluntary donations. Nonexchange revenue is recognized when a reporting 

entity establishes a specifically identifiable, legally enforceable claim to cash or other assets. It is recognized to the extent that the 

collection is probable (i.e., more likely than not) and the amount is measurable (i.e., reasonably estimable)

18. The concept of matching costs and revenue has little relevance in government except where there is an exchange transaction. 

An exchange transaction occurs when one party sacrifices value and receives a valuable good or service in return. The operations of 

an entity engaged in exchange transactions produce the revenue earned as well as the associated cost incurred. Therefore, financial 

accounting should relate the revenue to the cost for these transactions. The net effect--the gross cost minus the revenue, or the net 

cost--generally determines the extent to which taxpayers bear the cost of the operations.

30. These standards determine how a Government reporting entity should account for inflows of resources from revenue and other 

financing sources in its general purpose financial reports. Revenue is an inflow of resources that the Government demands, earns, or 

receives by donation. Revenue comes from two sources: exchange transactions and nonexchange transactions. Exchange revenues 

arise when a Government entity provides goods and services to the public or to another Government entity for a price. Another term 

for "exchange revenue" is "earned revenue." Nonexchange revenues arise primarily from exercise of the Government’s power to 

demand payments from the public, such as taxes, duties, fines, and penalties. Nonexchange revenue also includes donations.
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43. Exchange revenue should be recognized in determining the net cost of operations of the reporting entity during the period. 

The exchange revenue should be recognized regardless of whether the entity retains the revenue for its own use or transfers 

it to other entities. Gross and net cost should be calculated as appropriate to determine the costs of outputs and the total net 

cost of operations of the reporting entity. The components of the net cost calculation should separately include the gross cost 

of providing goods or services that earned exchange revenue, less the exchange revenue earned, and the resulting

difference. The components of net cost should also include separately the gross cost of providing goods, services, benefit 

payments, or grants that did not earn exchange revenue.

45. Under exceptional circumstances, [. . .], an entity recognizes virtually no costs (either during the current period or during 

past periods) in connection with earning revenue that it collects.

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.

48. Nonexchange revenues are inflows of resources that the Government demands or receives by donation. Such revenue should be 

recognized when a specifically identifiable, legally enforceable claim to resources arises, to the extent that collection is probable 

(more likely than not) and the amount is reasonably estimable. Nonexchange revenue should be measured by the collecting entities, 

but should be recognized by the entities legally entitled to the revenue (the recipient entities). Paragraphs 49 through 63 describe 

the application of this general standard.

49. Revenue measured by the collecting entities.

Taxes and duties also should be measured on the cash basis, and the cash basis amount(s) should be shown in conjunction 

with the accrual amounts recognized. The source and disposition of revenue from taxes, duties (which are a type of tax), and

related fines, penalties and interest should be measured by the collecting entities 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. The 

collecting entities function in a custodial capacity with respect to revenue transferred or transferable to the recipient entities. 

The collecting entities should not recognize such revenue, but should account for and report upon the above mentioned 
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custodial activities. The entities that collect taxes and duties may change the general standard (para. 48) to accrue amounts 

now required to be presented as supplementary information paragraphs 67.1 and 67.2) and make other changes that would 

result in a fuller and more complete application of accrual accounting.

70. Financing sources, other than exchange and nonexchange revenues, that provide inflows of resources that increase 

results of operations during the reporting period include appropriations used, transfers of assets from other Government

entities, and financing imputed with respect to any cost subsidies.8 Financing outflows may result from transfers of the 

reporting entity’s assets to other Government entities or from exchange revenues earned by the entity but required to be 

transferred to the General Fund or another Government entity. Unexpended appropriations are recognized separately in 

determining net position but are not financing sources until used.

Basis of Conclusion35:

137. As a general rule, exchange revenue transferred to others must be offset against the collecting entity's gross cost to 

determine its net cost of operations. Exchange revenue reduces the net cost of operations incurred by the entity in producing 

outputs, regardless of whether the entity keeps the exchange revenue for its own use or transfers it to another operating entity 

or the General Fund. Likewise, exchange revenue reduces the net cost of the entity’s operations to the taxpayer regardless of 

its disposition. Therefore, all exchange revenue related to the cost of operations must be deducted from gross cost to 

determine the net cost of operations for the entity.

138. Any exchange revenue that is transferred to others, however, does not affect the collecting entity's net position. Therefore, 

as required by the standards for other financing sources, such exchange revenue is recognized as a transfer-out in calculating 

the entity's operating results.

176. Collecting entities, e.g., the Internal Revenue Service and the Customs Service, collect cash and administer the 

assessment processes that provide the basis for adjusting those collections to an accrual basis. They, therefore, have 

measurement and reporting responsibilities for these inflows of resources. They also, at the direction of the Treasury 

Department, account for the disposition of these inflows to recipient entities. The Treasury determines the amounts payable to 

the recipient entities and, in conjunction with the collecting entities, makes the actual cash payments, or issues special 

Treasury securities, as necessary, to fund the amounts transferred. Because the recipient entities are designated by law to 

 35 Basis of conclusion is not an authoritative guidance.
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receive the inflows and make ultimate disposition of the funds, they, rather than the collecting entities, must recognize the 

inflows as revenues in order to provide financial statements which are meaningful to users.

245. Tax receipts are generally collected from the public by the IRS (Internal Revenue Service) and, to a lesser extent, by the 

Customs Service and other entities acting as agents for the recipient entities rather than on their own behalf. The collecting 

entity receives the cash and then transfers it to the General Fund, trust fund, or special fund on whose behalf it was collected. 

The amount so collected should be accounted for as a custodial activity by the collecting entity. The tax is recognized as 

nonexchange revenue by the entity that is legally entitled to the amount. This would be a trust fund or special fund in the case 

of an earmarked (i.e., dedicated) tax. If collected on behalf of the Government as a whole, it would be recognized in the 

Government-wide consolidated financial statements. 

281. Interest on delinquent taxes and other receivables that arise as the result of custodial operations.--Receivables that arise 

as the result of custodial operations are custodial (or non-entity) assets, held by the IRS or another entity as an agent for the 

Government as a whole rather than on its own behalf (e.g., IRS tax receivables on which the delinquent taxpayer must pay 

interest). The interest is exchange revenue, because each party receives and sacrifices something of value, but it is not related 

to the costs incurred by the collecting entity. The interest is accounted for as a custodial activity by the collecting entity. If 

transferred to the General Fund, the interest is recognized as exchange revenue in the Government-wide consolidated 

financial statements because it is related to the government's cost of borrowing; if transferred to another entity, it is recognized 

as nonexchange revenue by the entity that receives the transfer.

305. Seigniorage.--Seigniorage is the face value of newly minted coins less the cost of production (which includes the cost of 

the metal, manufacturing, and transportation). It results from the sovereign power of the Government to directly create money 

and, although not an inflow of resources from the public, does increase the Government's net position in the same manner as 

an inflow of resources. Because it is not demanded, earned, or donated, it is other financing source rather than revenue. It 

should be recognized as an other financing source when coins are delivered to the Federal Reserve Banks in return for 

deposits.
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353. Disposition of revenue to other entities: custodial transfers.--Revenue, primarily nonexchange revenue, may be collected 

by an entity acting on behalf of the General Fund or another entity within the Government on whose behalf it was collected. 

The collecting entity accounts for the disposition of revenue as part of its custodial activity. These custodial transfers, by 

definition, do not affect the collecting entity’s net cost of operations or operating results, nor are they part of the reconciliation 

between its obligations and net cost of operations. (The receiving entity recognizes the revenue as nonexchange or exchange 

revenue, depending on its nature, according to the applicable revenue standards.)

Revenue Implementation Guide36 dated June 1996, paragraph 57. 

The collection of exchange revenue is not a custodial activity, as a general rule, because exchange revenue should be 

deducted from gross cost in the Statement of Net Cost for the purpose of determining the net cost of operations. SFFAS no. 

7 requires this accounting for exchange revenue regardless of whether the entity retains the exchange revenue for its own 

use or transfers it to others. 

 36 On April 2002, FASAB published “Implementation Guide to Statement of Financing in Statement of Federal Financial Accounting Standards 7, 

Accounting for Revenue and Other Financing Sources: Detailed Information on the Statement of Financing”
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Selected Assets and Liabilities Standard, SFFAS No. 1

Recommended Standards:

25. ENTITY ASSETS are those assets which the reporting entity has authority to use in its operations. "Non-Entity assets" 

are those assets that are held by an entity but are not available to the entity. An example of non-entity assets are customs 

duty receivables that the Customs Service collects for the U.S. government but has no authority to spend. A similar example 

is federal income tax receivable that the Internal Revenue Service collects for the U.S. government.

26. Both entity assets and non-entity assets under an entity's custody or management should be reported in the entity's 

financial statements. Non-Entity assets reported in an entity's financial statements should be segregated from entity assets. 

An amount equal to non-entity assets should be recognized as a liability (due to Treasury or other entities) in the entity's 

financial statements. 

29. NON-ENTITY CASH - Non-Entity cash is cash that a federal entity collects and holds on behalf of the U.S. government or 

other entities. In some circumstances, the entity deposits cash in its accounts in a fiduciary capacity for the U.S. Treasury or 

other entities. Non-Entity cash should be reported separately from entity cash. 

43. ENTITY VS. NON-ENTITY RECEIVABLES - Receivables should be distinguished between entity receivables and nonentity receivables. "Entity receivables" are amounts that a federal entity claims for payment from other federal or nonfederal 

entities and that the federal entity is authorized by law to include in its obligational authority or to offset its expenditures and 

liabilities upon collection. [Footnote 4] Non-Entity receivables are amounts that the entity collects on behalf of the U.S. 

government or other entities, and the entity is not authorized to spend.
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Entity and Display SFFAC No. 2, 

101 “A separate statement of custodial activities would be appropriate 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 activities. The revenues should be characterized by those 

agencies as custodial revenues. The statement should display the sources and amounts of the collections of custodial 

revenues, any increases or decreases in amounts collectible but not collected, the disposition of the collections through 

transfers to other entities, the amounts retained by the collecting entity, and any increase or decrease in the amounts to be 

transferred.” 

103 “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 footnotes.”

Accounting for Fiduciary Activities. SFFAS No. 31_, 

35. This standard also amends paragraphs 84 and 102 of SFFAC 2, Entity and Display, as follows:

[102] Custodial collections do not include deposit funds, i.e., amounts held temporarily by the government (e.g., 

bidders’ earnest money or guarantees for performance) or amounts held by the Government as an agent for others, 

(e.g., state income taxes withheld from Federal employees’ salaries that are to be transferred to the states.). Both of 

tThese types of collections can be considered assets and liabilities until they are returned to the depositor or 

forwarded to the organization entitled to the funds should be reported in accordance with the provisions of 

SFFAS 31, Accounting for Fiduciary Activities.
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OMB Circular No. A-136, Financial Reporting Requirements

Section 8 Statement of Custodial Activity

8.1 General 

The Statement of Custodial Activity is required for entities that collect nonexchange revenue for the General Fund of the 

Treasury, a trust fund, or other recipient entities. In addition, the Statement of Custodial Activity is required for selected 

exchange revenues specified in SFFAS 7, including oil and gas revenues. The collecting entities do not recognize as revenue 

those collections that have been or should be transferred to others as revenues. Rather, they shall account for sources and 

disposition of the collections as custodial activities on the Statement of Custodial Activity. 

An exception to requiring preparation of the Statement of Custodial Activity is made when collecting entities have custodial 

collections that are immaterial and incidental to their primary mission. In these cases, the sources and disposition of the 

collections may be disclosed in accompanying footnotes.

Custodial 

Revenue