**Revolving Fund Scenario**

This scenario portrays transactions in a revolving fund.  Transactions highlight the following points:

· Start-up capital appropriated to a revolving fund from the general fund of the Treasury.

· Budget authority provided through offsetting collections.

· Cash shortfalls when budget authority remains unobligated. 

· Appropriation transfers from an appropriated agency general fund.

· Availability of funds as applied to reimbursable agreements between ordering and performing entities.

· Posting of advances without orders.

· Purchasing and selling inventory held for resale.

· Adjusting entry to write an unfilled customer order from a federal source down to obligations against the order due to an expiring appropriation of the ordering entity.

**PRE-CLOSING ADJUSTING ENTRIES**

**Revolving/Performing Fund**

**PRE-CLOSING ADJUSTED TRIAL BALANCE**

**CLOSING ENTRIES**

**Revolving/Performing Fund**

**POST-CLOSING ADJUSTED TRIAL BALANCE**

###### Revolving Fund

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

As of September 30, 20xx

Col. 2 Preclosing Unexpended Balance – Treasury Supplied

Col. 3 N/A

Col. 4 Unobligated and Obligated Balance Withdrawn/Canceled

Col. 5 Post Closing Unexpended Balance(1010E)56,600

Col. 6 TAFS with Imprest Fund

Col. 7 Reimbursements Earned and Refund 

Col. 8 Unfilled Customer Order (4221E)

Col. 9 Undelivered Orders and Contracts

Col.10 Accounts Payable and Other Liabilities

Col. 11 CALC (5+6+7+8-9-10) (4610E)56,600

Revolving Fund

**BALANCE SHEET**

As of September 30, 20xx

Assets:****

 Intragovernmental:

1. Fund Balance With Treasury (1010E)56,600

2. Investments

3. Accounts receivable4. Loans receivable

5. Other

6.  Total Intragovernmental56,600

7.  Cash, foreign currency and other monetary assets

8.  Investments

9.  Accounts receivable 

10. Taxes receivable

11. Loans receivable and related foreclosed property

12. Inventory and related property

13. General property, plant and equipment (1750E, 1759E)75,000

14. Other

15. Total Assets131,600

Revolving Fund

**BALANCE SHEET**

As of September 30, 20xx

Liabilities:

Intragovernmental

16. Accounts Payable 

17. Debt

18. Other (2310E)20,000

19. Total intragovernmental

20. Accounts Payable 

21. Loan guarantee liability

22. Debt held by the public

23. Federal employee and veteran's benefits

24. Environmental and disposal liabilities

25. Benefits due and payable

26. Other (2310E)13,000

27. Total liabilities33,000

28. Commitments and contingencies

Net Position:

29. Unexpended Appropriations 

30. Cumulative results of operations (3310E)98,600

31. Total net position98,600

8.  Total Liabilities and Net Position131,600

Revolving/Performing Fund

**CONSOLIDATED STATEMENT OF NET COST**

For the year ended September 30, 20xx

Program Costs

Program A

Intragovernmental Gross Costs

1. Intragovernmental (6100E)75,000 

2. Less Intragovernmental Earned Revenues (5100E)63,600

3. Intragovernmental Net Costs   (calc)11,400

Gross Costs with the Public

4. With the Public (6500E, 6710E)     68,000  

5. Less:  Earned Revenues(5200E)            48,000 

6. Net Costs with the Public20,000

7. Total Net Costs (calc)      31,400

8. Costs Not Assigned to Programs

9. Less:  Earned Revenues Not Attributed to Programs

            10. Net Cost of Operations31,400

Reporting Entity

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

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

Cumulative ResultsUnexpended

Of Operations             Appropriations      

1. Beginning Balances 00

2. Prior period adjustments

3. Beginning balances, as adjusted00

Budgetary Financing Sources:

4. Appropriations received (3101)  100,000

5. Appropriations transferred-in/out (3102)      30,000

6. Other adjustments (rescissions, etc)

7. Appropriations used (5700) (3107)   130,000(130,000)

8. Non-exchange revenue

9. Donations and forfeitures of cash

      and cash equivalents

10. Transfers-in/out w/o reimbursement

11. Other budgetary financing sources

Other Financing Sources:

12. Donations and forfeitures of property     

13. Transfers-in/out w/o reimbursement     

14. Imputed financing from costs absorbed by others

15. Other    ______

16. Total Financing Sources  130,0000   

17. Net Cost of Operations    31,400

18. Ending Balances      98,600 0

Reporting Entity

**SF 133 REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES/SBR:  STATEMENT OF BUDGETARY RESOURCES**

For the year ended, September 30, 20xx

****BudgetaryNonbudgetary

Financing Accounts

Budgetary Resources:

1. Budget authority 

1a. Appropriations received  (4119E)100,000

1b. Borrowing authority

1c. Contract authority

1d. Net transfers (4170E)30,000

1e. Other 

2. Unobligated balance

2a. Beginning of period

2b. Net transfers, actual 

3. Spending authority from offsetting collections

3a. Earned

1. Collected  (4252E)111,600

2. Receivable from Federal sources

3b. Change in unfilled customer orders

1. Advance received (4222E)33,000

2. W/o advance from Federal sources(4221E)

3c. Transfers from trust funds

3d. Anticipated

3e. Subtotal144,600

4. Recoveries of prior year obligations

5. Temporarily not available pursuant to Public Law

6. Permanently not available

7. Total Budgetary Resources274,600

Status of Budgetary Resources:

8. Obligations Incurred 

8a. Direct  (4902E)218,0008b. Reimbursable (4902E)

8c. Subtotal218,000

9. Unobligated balance:

9a. Apportioned  (4610E)56,600

9b. Exempt from apportionment

9c. Other available 

10. Unobligated balances not available

11. Total Status of Budgetary Resources274,600

Relationship of Obligations to Outlays:

12. Obligated balance, net - beg of period                0

13. Obligated balance transferred, net (4221E)

14. Obligated balance, net - end of period:

14a. Accounts receivable

14b. Unfilled customer orders (4221E)

from Federal sources

14c. Undelivered Orders

14d. Accounts Payable 

15.Outlays:

15a.Disbursements   (4902E)218,000

15b.Collections (4222E, 4252E)144,600

15c. Subtotal 73,400

16. Less:  Offsetting receipts _______       

17. Net Outlays 73,400

Reporting Entity

**CONSOLIDATED STATEMENT OF FINANCING**

For the year ended, September 30, 20xx

###### Resources Used to Finance Activities

Budgetary Resources Obligated

1. Obligations incurred (4902E)218,0002. Less: Spending authority from offsetting collections and recoveries (4252E, 4222E)144,600

3. Obligations net of offsetting collections and recoveries 73,400

4. Less: Offsetting receipts5. Net obligations 73,400

Other Resources

6. Donations and forfeitures of property                           7. Transfers in/out w/o reimbursement             8. Imputed financing from costs absorbed by others

9. Other 

10. Net other resources used to finance activities _____0

11. *Total resources used to finance activities* 73,400 

###### 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 (4222E)(33,000)

13.Resources that fund expenses recognized in prior periods

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

14b.  Other                                        

15. Resources that finance the acquisition of assets or

liquidation of liabilities (8802E)143,000          16. Other resources or adjustments to net obligated resources that do not

affect net cost of operations _______

17. *Total resources used to finance items not part of the net cost of operations*   110,000               

Reporting Entity

**CONSOLIDATED STATEMENT OF FINANCING**

For the year ended, September 30, 20xx

18. *Total resources used to finance the net cost of operations*  (36,600)**

*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

20. Increase in environmental and disposal liability

21. Upward/Downward reestimates of credit subsidy expense

22. Increase in exchange revenue receivable from the public

23. Other

24. Total components of Net Cost of Operations that will require or

generate resources in future periods______0

Components not Requiring or Generating Resources:

25. Depreciation and amortization (6710E)  15,00026. Revaluation of assets or liabilities                                                                        

27. Other (6500E)  53,000

28. Total components of Net Cost of Operations that will not require or  68,000

generate resources _______29. *Total components of net cost of operations that will not require or generate resources*  68,000

*in the current period***

30. *Net Cost of Operations* 31,400

# Reporting Entity

# PROGRAM AND FINANCING SCHEDULE – ACTUALS

# For the year ended September 30, 20xx

# OBLIGATIONS BY PROGRAM ACTIVITY

# 1000  Total New Obligations (4902E)218,000

# BUDGETARY RESOURCES AVAILABLE FOR OBLIGATION:

# 2140  Unobligated balance, carried fwd, SOY           0

# 2200  New Budget Authority (gross) (sum of lines 4000 to 6962)274,600

# 2395 Total New Obligations (Same as line 1000, opposite sign)(218,000)

# 2440 Unobligated Balance, carried forward, EOY (4610E)  56,600

# NEW BUDGET AUTHORITY (GROSS), DETAIL:

# 4000 Appropriation (4119E)100,000

# 4200 Transferred from other accounts  30,000

# 4300 Appropriation (total discretionary) (sum 4000...4200)130,000

# 6800 Spending Authority From Offsetting Collections (cash) (4222E) (4252E)144,600

# 7000 Total New Budget Authority  (gross) (sum 4000...6990)274,600

# CHANGE IN OBLIGATED BALANCES

# 7240 Obligated balance, SOY           0 

# 7310 Total New Obligations (line 1000) 218,000

# 7320 Total Outlays (gross)  (4902E) (218,000)

# 7440 Obligated balance (EOY)           0

# OUTLAYS (GROSS), DETAIL

# 8690  Outlays from New Disc Auth (4902E)218,000 

# 8700 Total Outlays (gross) (line 8690 thru 8698)218,000

# OFFSETS

# 8800 Off Collects f/ Federal sources (4222E) (4252E) (83,600)

# 8840 Off Collects f/ Non-Federal Sources (4222E) (4252E) (61,000)

# 8890 Total Offsetting Collections (cash) (sum 8800...8845) (4222E) (4252E)               (144,600)

# NEW BUDGET AUTHORITY AND OUTLAYS

# 8900  Net Budget Auth (lines 2200 – (8800 thru 8896) 130,000

# 9000  Outlays (net) (lines 8690...8698 minus 8800...8845)    73,400     

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