FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

 PREPARED BY:

CREDIT REFORM SUBCOMMITEE AND

UNITED STATES STANDARD GENERAL LEDGER ADVISORY DIVISION

GOVERNMENTWIDE ACCOUNTING

BUREAU OF THE FISCAL SERVICE

U.S. DEPARTMENT OF THE TREASURY
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 2 of 186

September 2016

Version Number Date Description of Change Effective

USSGL TFM

1.0 07/2004 Original Version S2-04-01

2.0 09//2012 Updated case study (account numbers and titles, Transaction 

Codes, crosswalks) in accordance with T/L S2-12-03. Added 

MAT, cohorts, changed disbursement schedule. Added new 

Appendix 2. 

S2-12-01

3.0 09/2016 Updated Transaction Codes, financial statements and 

appendices.

2016-07 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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Overview

This guide is designed for those who:

• Formulate and execute Federal credit program budgets, including accounting for assets, liabilities, net position, income, and

expenses, and budgetary resources;

• Prepare agency financial statements;

• Audit the agency financial statements;

• Manage or provide service to participants in loan guarantee programs;

• Design and maintain computer systems for financial programs;

• Instruct others in basic accounting and reporting for loan guarantee programs without collateral.

The guide is illustrative, rather than authoritative, and is categorized as “other accounting literature” in the hierarchy of accounting 

principles for Federal entities.1 It supersedes the original and subsequent loan guarantee scenarios. Users may download the guide 

from the Bureau of the Fiscal Service (FS) Web site at www.fiscal.treasury.gov/fsreports/ref/ussgl/ussgl/ussgl_htm.

In order to understand and gain the most from the guide, users must have a working knowledge of the following:

• Budgetary and proprietary accounting, reporting, and terminology;

• The United States Standard General Ledger (USSGL) accounts for basic annual operating appropriations and revolving funds; 

and

• The Federal Credit Reform Act and other requirements established by the Act; 

• The concepts of Federal credit program accounting and reporting, fund structures, and terminology. 

 1

See §II.4, Instructions for Annual Financial Statements, OMB Circular A-136.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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This guide is a study in accounting and reporting for a discretionary loan guarantee program under the Federal Credit Reform Act of 

1990, as amended, for loan guarantees obligated after September 30, 1991. Loan guarantees are any guarantee, insurance, or other 

pledge for the payment of all or a part of the principal or interest on any debt obligation of a non-Federal borrower to a non-Federal 

lender, except for the insurance of deposits, shares, or other withdrawals in financial institutions. Loans that are financed by the 

Federal Financing Board pursuant to agency loan guarantee authority are treated as direct loans rather than loan guarantees.2

Transactions are presented over a 3-year period for a fictitious Federal agency with a single annual loan guarantee program with no 

risk categories. Transactions for fiscal year 2 show the disposition of the upward re-estimated subsidy accrued in fiscal year 1, as well 

as additional transactions to demonstrate the use of cohorts, borrowing authority, negative subsidy rates, and interest accruals in 

relation to inter-governmental eliminations and downward re-estimates. Transactions for fiscal year 3 show the disposition of the 

downward re-estimated subsidy accrued in fiscal year 2 and repayment of debt. Common transactions and reports are covered in 

addition to transactions unique to Federal credit program accounting. However, since accounting for certain accruals and undelivered 

orders with advances are not unique to credit reform accounting, they are not presented. In addition, transactions involving collateral 

are excluded, since they are covered in a separate guide. Entries are made in general journal form, using USSGL accounts, and are 

summarized in trial balances for each year. 

The transactions covered are:

• Formulation, apportionment, and allotment of the budget;

• Receipt of subsidy and administrative expense appropriations;

 2

OMB Circular No. A-11, Section 185.3(e)
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

• Payment of administrative expenses;3

• Commitment to make loan guarantees;

• Transfer of subsidy from the program to the financing fund;

• Transfer of negative subsidy from the financing fund to the general fund

• Collection of guarantee fees;

• Payment of interest supplements;

• Payment of default claims

• Assuming defaulted guaranteed loans and interest for direct collection

• Collection of loan principal and interest on defaulted guaranteed loans;

• Modification of guarantee terms, with resulting adjustment to program level;

• Collection of interest from Treasury;

• Accrual of interest from borrowers;

• Accrual of inter-governmental interest;

• Write-off of bad debts without receiving collateral;

• Recording the interest accumulation factor on the loan guarantee liability and loan assets;

• Recording of data on guaranteed loans supplied by third-party lenders;

• Accrual, receipt and disbursement of upward and downward subsidy re-estimates and related interest; and

• Closing entries.

 3

The illustration is for the payment of administrative expenses without prior obligation through undelivered orders or accounts payable. Though administrative 

expenses will usually be obligated before payment, there is nothing about the transactions unique to credit program accounting, and they are not shown.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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While financing funds may borrow money if there is not enough Fund Balance With Treasury to meet requirements for disbursements, 

in general, financing funds obtain money for disbursements primarily from:

• Offsetting collections, including those from the program fund (for basic and upward re-estimated subsidy);

• Treasury (for interest); and

• Non-Federal sources (such as guarantee fees from program participants or collections of defaulted guaranteed loan 

principal and interest from borrowers). 

The yearend agency reports are listed below:

• Balance Sheet;

• Statement of Net Cost;

• Statement of Changes in Net Position;

• Statement of Budgetary Resources;

• Financing Footnote

• Fund Balance with Treasury Footnote

• Program and Financing Schedule (Schedule P); and

• Credit Program Footnote (including the Schedule of Changes in the Allowance for Subsidy).

An SF 132: Apportionment and Reapportionment Schedule report is furnished at the beginning of each year. These SF132s represent 

single year funding of subsidy. 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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This guide includes two appendices. Appendix 1 discusses basic differences encountered in mandatory programs. Appendix 2 

provides a listing of key references related to credit program accounting. If the references change, this document will be updated 

accordingly and published on the USSGL Website at https://www.fiscal.treasury.gov/fsreports/ref/ussgl/creditreform/casestud.htm

Users may send questions to the USSGL Website at www.fiscal.treasury.gov/fsreports/ref/ussgl/form-issues.htm by using the online 

USSGL Issue Form. This Website also provides a list of the USSGL representatives and their telephone numbers. 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Listing of USSGL Accounts Used in This Scenario

Program Fund

Account Number Account Title

Budgetary

411500 Loan Subsidy Appropriation

411700 Loan Administrative Expense Appropriation

411800 Reestimated Loan Subsidy Appropriation

412000 Anticipated Indefinite Appropriations

420100 Total Actual Resources-Collected

445000 Unapportioned Authority

451000 Apportionments

459000 Apportionments - Anticipated Resources - Programs Subject to Apportionments

461000 Allotments - Realized Resources

465000 Allotments - Expired Authority

480100 Undelivered Orders – Obligations, Unpaid

487100 Downward Adjustments of Prior Year Unpaid Undelivered Orders

490200 Delivered Orders – Obligations, Paid [Re-estimated Subsidy and Interest]

490200 Delivered Orders – Obligations, Paid [Other]
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Proprietary

101000 Fund Balance With Treasury

131000 Accounts Receivable [Subsidy Receivable From Financing Fund]

217000 Subsidy Payable to Financing Account

310000 Unexpended Appropriations – Cumulative

310100 Unexpended Appropriations – Appropriations Received

310700 Unexpended Appropriations – Used

331000 Cumulative Results of Operations

570000 Expended Appropriations 

579100 Adjustment to Financing Sources – Credit Reform

610000 Operating Expenses/Program Costs [Administrative Expense]

610000 Operating Expenses/Program Costs [Basic and Modified Subsidy]

619900 Adjustment to Subsidy Expense 4

680000 Future Funded Expenses [Subsidy Re-estimate – Technical]

5

680000 Future Funded Expenses [Subsidy Re-estimate - Interest Rate]

719000 Other Gains

729000 Other Losses

 4

This relates to downward re-estimates and negative subsidies. 5

This relates to upward re-estimates.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Financing Fund

Account Number Account Title

Budgetary

404700 Anticipated Transfers to the General Fund of the Treasury – Current Year Authority

406000 Anticipated Collections From Non-Federal Sources

407000 Anticipated Collections From Federal Sources

412000 Anticipated Indefinite Appropriations

412500 Loan Modification Adjustment Transfer Appropriation

414100 Current Year Borrowing Authority Realized

414200 Actual Repayment of Borrowing Authority Converted to Cash

414300 Current Year Decreases to Indefinite Borrowing Authority Realized

414500 Borrowing Authority Converted to Cash

414800 Resources Realized from Borrowing Authority

415100 Actual Capital Transfers to the General Fund of the Treasury, Current Year

420100 Total Actual Resources – Collected

422100 Unfilled Customer Orders Without Advance

426100 Actual Collection of Business-Type Fees

426200 Actual Collection of Loan Principal
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

426300 Actual Collection of Loan Interest

427100 Actual Program Fund Subsidy Collected

427300 Interest Collected From Treasury

428300 Interest Receivable from Treasury

445000 Unapportioned Authority

451000 Apportionments

459000 Apportionments - Anticipated Resources - Programs Subject to Apportionments

461000 Allotments - Realized Resources

480100 Undelivered Orders – Obligations, Unpaid

490200 Delivered Orders – Obligations, Paid [Other]

Proprietary

101000 Fund Balance With Treasury

131000 Accounts Receivable [Subsidy Receivable From Program Fund]

134100 Interest Receivable - Loans [Defaulted Guaranteed Loans]

135000 Loans Receivable [Defaulted Guaranteed]

139900 Allowance for Subsidy [Defaulted Guaranteed Loan Assets]

214100 Accrued Interest Payable – Debt

218000 Loan Guarantee Liability

251000 Principal Payable to the Bureau of the Fiscal Service
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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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299000 Other Liabilities without Related Budgetary Obligations [Re-estimate payables]

310100 Unexpended Appropriations – Appropriations Received

310700 Unexpended Appropriations – Used

331000 Cumulative Results of Operations6

531200 Interest Revenue – Loans Receivable/Uninvested Funds [Treasury]

531300 Interest Revenue – Subsidy Amortization [Defaulted Guarantee]

570000 Expended Appropriations 

576600 Nonexpenditure Financing Sources – Transfers Out – Capital Transfers

577600 Nonbudgetary Financing Sources Transferred Out

579100 Adjustment to Financing Sources – Credit Reform

631000 Interest Expenses on Borrowing From Bureau of the Fiscal Service and/or Federal Financing Bank

634000 Interest Expense Accrued on the Liability for Loan Guarantees

801000 Guaranteed Loan Level 

801500 Guaranteed Loan Level - Unapportioned 

802000 Guaranteed Loan Level - Apportioned 

804000 Guaranteed Loan Level - Used Authority

804500 Guaranteed Loan Level - Unused Authority

 6

Cumulative Results of Operations must be zero after closing because the financing fund cannot have a net cost of operations or net position. Under FCR the net 

cost is captured in the program fund, so cumulative results of operations is always zero. OMB A-11, Section 185, Exhibit E illustrates that the financing fund is 

designed to break even and thus have a zero results of operations.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

805000 Guaranteed Loan Principal Outstanding

805300 Guaranteed Loan New Disbursement by Lender

806500 Guaranteed Loan Collections, Defaults and Adjustments

807000 Guaranteed Loan Cumulative Disbursements by Lenders

Conceptual Framework

Pre-closing equation: 801000 = 801500 + 802000 + 804000 + 804500

 805000 = 805300 - 8065000 

Post-closing equation: 801000 = 804000 + 804500

 805000 = 807000
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Miscellaneous Receipt Account

Account Number Account Title

Budgetary

No Entries

Proprietary

101000 Fund Balance With Treasury

131000 Accounts Receivable [Subsidy Receivable From Financing Fund]

298500 Liability for Non-Entity Assets Not Reported on the Statement of Custodial Activity

575600 Nonexpenditure Financing Sources – Transfers In – Capital Transfers

577500 Nonbudgetary Financing Sources Transferred In

599300 Offset to Non-Entity Collections – Statement of Changes in Net Position

599400 Offset to Non-Entity Accrued Collections – Statement of Changes in Net Position
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Scenario Assumptions

This guide uses numbers and titles for USSGL accounts. When necessary, titles for USSGL accounts are expanded by using brackets 

to capture, clarify, or add specific information, for illustrative purposes only. For example, administrative expense, “[Administrative 

Expense]” is included after the title for USSGL 610000 account, “Operating Expenses/Program Costs.” In the same manner, for 

interest supplement expense, “[Interest Supplement],” is included after the title for the USSGL 610000 account. The USSGL TFM 

Supplement, Section II, contains definitions for USSGL accounts.

Entries are in general journal form, using USSGL accounts, and are summarized in trial balances for each year. Note that the financing 

fund is used only in the transactions for Post-Credit Reform scenarios, and the liquidating fund is used only in the transactions for PreCredit Reform scenarios.

USSGL accounts that, by themselves, do not directly provide the reporting that is illustrated, are supplemented with additional detail. 

The entries made and the method chosen to illustrate the detail provide only one-way of accounting. Agencies may have other ways of 

structuring their ledgers and making journal entries to accomplish the same result.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

USSGL Scenario

Loan Guarantee Program

Fiscal Year 1

The loan guarantee Agency has been authorized to guarantee loans beginning in fiscal year 1. It has authority to guarantee 80 percent 

of the principal and related interest of $100,000 in loans. The agency has a single, discretionary loan guarantee program with no risk 

categories.7 For fiscal year 1, Congress has authorized annual appropriations for basic subsidy, modified subsidy, and administrative 

expenses and provided that the program is subject to the Federal Credit Reform Act of 1990, as amended.

Transactions To Be Recorded in the Program and Financing Fund

1. The agency’s subsidy model indicated that, for the $100,000 of loan guarantees, a 21.5 

percent subsidy was indicated as follows: 

• Present value of expected defaults is 20 percent, or $20,000;

• Present value of guarantee fees to be collected is (.5) percent or $500 (all anticipated this year), and

 7

Programs that have risk categories must maintain separate financing fund accounting for each risk category. While annual appropriations for basic and modified 

subsidy, which are common in discretionary loan guarantee programs, are illustrated, some programs may have multi-year or permanent indefinite appropriations 

provided for these purposes in their underlying legislation. Accounting for these types of appropriations is essentially the same as it would be for basic operating 

appropriations or revolving fund. See Appendix 2 for examples
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

• Present value of interest supplements to be paid to third-party lenders as loans are guaranteed, to buy down interest 

rates, is 2 percent or $2,000. 

2. The agency has appropriated administrative expenses for fiscal year 1 in the amount of $5,000. 

3. The agency estimates the following financing fund collections for the year:

• $21,500 of subsidy from the program fund;

• $1,200 of interest from Treasury on unused balances in the financing fund; 

• $5108 for program participants for guarantee fees; and

• $50 for principal and $200 for interest on defaulted guaranteed loans.

4. The agency expects to use financing fund resources as follows:

• $3,500 for payment of default claims (80% Guarantee of $4,375 Default); and 

• $2,000 for payment of interest supplements.

 8

Note that this is higher than the $500 of fees in the subsidy model, because $500 is the present value of the fees, and $510 is the actual amount of fees expected 

to be collected.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

 Based on the above information the agency has prepared the following requests for apportionment:

Loan Guarantee Agency

Fiscal Year 19

 9

OMB Circular A-11 Exhibits 185N through 185U shows examples of various SF132s

SF 132 Apportionment/Reapportionment Schedule

BUDGETARY RESOURCES Program 

Fund

Financing 

Fund

Budget authority:

 Appropriations, discretionary:

1100 Appropriation 26,500

 Spending authority from offsetting collections, 

mandatory:

1840 Anticipated Collections, Reimbursements, and Other Income 23,460

1920 Total Budgetary Resources 26,500 23,460

APPLICATION OF BUDGETARY RESOURCES

Category B (by project)

6011 Direct Loan Subsidy 21,500

6012 Default 3,500

6013 Administrative Expense 5,000

6014 Interest Supplements 2,000

6182 Unapportioned Balance of Revolving Fund 17,960
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

SF 132 Apportionment/Reapportionment Schedule

6190 Total Budgetary Resources Available 26,500 23,460

GUARANTEED LOAN LEVELS AND APPLICATIONS

8100 Program Level, Current Year 100,000

8211 Guarantee Loan Program 100,000
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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Illustrative Transactions for Year 1

1-1 To record the enactment of appropriations.

Program Fund10

DR CR TC

Budgetary Entry

411500 Loan Subsidy Appropriation 21,500

411700 Loan Administrative Expense Appropriation 5,000

 445000 Unapportioned Authority 26,500

Proprietary Entry

 A104

101000 Fund Balance With Treasury 26,500

 310100 Unexpended Appropriations – Appropriations Received 26,500

 10Note that these entries maybe done as two separate steps as warrant and signing of appropriations bill do not always coincide.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Financing Fund

DR CR TC

Budgetary Entry

406000 Anticipated Collections from Non-Federal Sources

407000 Anticipated Collections from Federal Sources

 445000 Unapportioned Authority

Proprietary Entry

760

22,700

23,460 A140

None 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Memorandum Accounts - Loan Guarantee Level11

DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Memorandum Entry

801000 Guaranteed Loan Level 100,000

 

 801500 Guaranteed Loan Level – Unapportioned 100,000 G102

 11Although the agency is guaranteeing 80 percent of the loans made by third-party lenders, Federal budget rules provide that the 100 percent figure would still be 

used as the loan level even if the guarantee was for less than 100 percent. The figure also would be 100 percent of principal only even if defaulted interest was 

guaranteed as well. See OMB Circular A-11, Preparation, Submission and Execution of the Budget (June 2003), §185.11(c).
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

1-2 OMB approved the agency’s request for apportionment, and the agency recorded the apportionment. 

Program Fund

DR CR TC

Budgetary Entry

445000 Unapportioned Authority 26,500

 451000 Apportionments 26,500 A116

Proprietary Entry

None
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Financing Fund12

DR CR TC

Budgetary Entry

445000 Unapportioned Authority 5,500

 459000 Apportionments - Anticipated Resources-Programs Subject to 

 Apportionment 

5,500 A118R

Proprietary Entry

None

 12$5,500 needed to pay defaults and interest supplements, $3,500 and $2,000 is apportioned. 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Memorandum Accounts - Loan Guarantee Level 

DR CR TC

Budgetary Entry

None

 

Proprietary Entry

None

Memorandum Entry

801500 Guaranteed Loan Level - Unapportioned

 802000 Guaranteed Loan Level – Apportioned

100,000

100,000

 

 

 G104
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1-3 Issued a blanket authorization to allot anticipated resources as they were realized, not to exceed the amount of the apportionment.

Program Fund

DR CR TC

Budgetary Entry

451000 Apportionments 26,500

 461000 Allotments - Realized Resources 26,500 A120

Proprietary Entry

None

Financing Fund13

DR CR TC

Budgetary Entry

None

 

Proprietary Entry

None

 13Note that in accordance with §145.6 of OMB Circular A-11, only realized resources may be obligated.
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IN FEDERAL CREDIT PROGRAM

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September 2016

1-4. The agency paid administrative expenses of $4,950. It placed no undelivered orders nor made accruals before payment.

Program Fund

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources 4,950

 490200 Delivered Orders – Obligations, Paid [Other] 4,950 B106

Proprietary Entry

610000 Operating Expenses/Program Costs [Administrative Expenses]

 101000 Fund Balance With Treasury

310700 Unexpended Appropriations – Used

 570000 Expended Appropriations

4,950

4,950

 4,950

4,950

 

 

 

 B134
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IN FEDERAL CREDIT PROGRAM

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1-5 The agency agreed to make $90,000 in guarantees, subject to the third-party lenders and their borrowers meeting conditions placed 

on them. 

Program Fund14

Obligated subsidy to be transferred to financing fund.

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources 19,350

 480100 Undelivered Orders – Obligations, Unpaid

Proprietary Entry

None

19,350 B306

 14$90,000 in loan commitments x 21.5 percent subsidy = $19,350.
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IN FEDERAL CREDIT PROGRAM

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September 2016

Financing Fund

To recognize the subsidy to be transferred from the program fund.

DR CR TC

Budgetary Entry

422100 Unfilled Customer Orders Without Advance 19,350

 407000 Anticipated Collections From Federal Sources

Proprietary Entry

None

 19,350 C101
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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Financing Fund

To record allotment of realized subsidy.15

DR CR TC

Budgetary Entry

459000 Apportionments - Anticipated Resources 

 - Programs Subject to Apportionments

 461000 Allotments - Realized Resources

Proprietay Entry

None

5,500

 

 5,500

 

 A122

 15Note that the unfilled customer order from the program fund constitutes a realized resource. Only the $5,500 apportioned in transaction 1-2 can be allotted. 

Also note that there is no cash related to this authority at this time. If a disbursement needed to be made prior to the cash being received, borrowing authority 

would need to be used to make the disbursement. See year 2 for an example.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

Memorandum Accounts - Loan Guarantee Level

DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Memorandum Entry

802000 Guaranteed Loan Level – Apportioned

 804000 Guaranteed Loan Level – Used Authority

90,000

90,000 G106
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1-6. Third-party lenders disbursed $87,000 of the guaranteed loans, and the agency transferred subsidy from the program to the 

financing fund. 

Program Fund16

To record payment of subsidy to financing fund.

DR CR TC

Budgetary Entry

480100 Undelivered Orders – Obligations, Unpaid

 490200 Delivered Orders – Obligations, Paid [Other]

18,705

18,705 A146

 

Proprietary Entry

610000 Operating Expenses/Program Costs

 [Basic and Modified Subsidy Expense]

 101000 Fund Balance With Treasury

310700 Unexpended Appropriations - Used

 57000 Expended Appropriations

18,705

 18,705

 18,705

 18,705

 

 

 B134

 16$87,000 in guaranteed loans disbursed x the 21.5 percent subsidy rate = $18,705.
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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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Financing Fund17

DR CR TC

Budgetary Entry

427100 Actual Program Fund Subsidy Collected

 422100 Unfilled Customer Orders Without Advance

18,705

18,705 C103

 

Proprietary Entry

610000 Operating Expenses/Program Costs

 [Basic and Modified Subsidy Expense]

 101000 Fund Balance With Treasury

310700 Unexpended Appropriations - Used

 57000 Expended Appropriations

18,705

 18,705

18,705

 18,705

 

 A146

 

 B134

 17Note that no additional allotment is made, because the full $5,500 that OMB apportioned was allotted in transaction 1-5.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 34 of 186

September 2016

Memorandum Accounts - Loans Disbursed

DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Memorandum Entry

805000 Guaranteed Loan Principal Outstanding

 805300 Guaranteed Loan New Loan Disbursements by Lender

87,000

87,000 G108
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 35 of 186

September 2016

1-7. The agency collected fees of $480 from the program participants as a condition of making the guarantees. 

Financing Fund

To record collection of fees.

DR CR TC

Budgetary Entry

426100 Actual Collection of Business-Type Fees

 406000 Anticipated Collections from Non-Federal Sources

Proprietary Entry

101000 Fund Balance With Treasury

 218000 Loan Guarantee Liability

480

480

480

 480

 

 C117

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 36 of 186

September 2016

1-8. The agency paid interest supplements of $1,940 to the third party-lenders. It had made no previous accrual. 

Financing Fund

To record collection of fees.

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 4902000 Delivered Orders – Obligations, Paid [Other]

Proprietary Entry

218000 Loan Guarantee Liability

 101000 Fund Balance With Treasury

 

1,940

 1,940

1,940

 

 1,940

 

 

 B104

*****Though separated here for purposes of illustration, agencies would normally record transactions 1-6 - 1-8 

simultaneously.******
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 37 of 186

September 2016

1-9. The agency paid third-party lender claims of $3,500 to honor 80% guarantee of $4,375 of defaulted loan principal. 

Financing Fund

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 4902000 Delivered Orders – Obligations, Paid [Other]

Proprietary Entry

218000 Loan Guarantee Liability

 101000 Fund Balance With Treasury

 

3,500

 

 3,500

3,500

 

 3,500

 

 

 B104
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 38 of 186

September 2016

Memorandum Accounts - Loans Disbursed

DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Memorandum Entry

806500 Guaranteed Loan Collections, Defaults, and Adjustments

 805000 Guaranteed Loan Principal Outstanding

 

 4,375

 

 4,375 

 

 

 

 G110 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 39 of 186

September 2016

1-10. The agency acquired receivables for loans of $3,500 and interest of $1,250 in conjunction with the defaults. The agency will

attempt to collect this money directly from the borrowers. The present value of cash flows related to the loans is estimated to be 

$3,000.18

Financing Fund

To establish accounts receivable for defaulted loan.

DR CR TC

Budgetary Entry

None

Proprietary Entry

134100 Interest Receivable -Loans [Defaulted Guaranteed Loans]

135000 Loans Receivable [Defaulted Guaranteed Loans]

 139900 Allow. for Subs. [Defaulted Guaranteed Loans]

 218000 Loan Guarantee Liability

1,250

3,500

1,750

3,000

 

 

 C428

* * * * * Though separated here for illustrative purposes, agencies would normally record transactions 1-9 and 1-10 

simultaneously. * * * * *

 18The present value of defaulted guaranteed loans and remaining guaranteed loans must be split. This can be done on agency determined schedule but at a 

minimum, year end.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 40 of 186

September 2016

1-11. The agency collected principal of $40 and interest of $200 were collected on the loans acquired in transaction 1-10. 

Financing Fund19

DR CR TC

Budgetary Entry

426200 Actual Collection of Loan Principal

426300 Actual Collection of Loan Interest

 406000 Anticipated Collections From Non-Federal Sources

Proprietary Entry

101000 Fund Balance With Treasury

 134100 Interest Receivable - Loans [Defaulted Guaranteed Loans]

 135000 Loans Receivable [Defaulted Guaranteed]

40

200

 240

240

 

 200

 40 

 

 

 C109

 

 19If interest receivable at the time of default had been recorded as part of loans receivable, the entire $240 would be credited to 135000. See transaction 1-10. 

Note – the principal and interest breakdown are for illustration purposes only. According to the Debt Collection Improvement Act (DCIA), unless there is some 

other contractual agreement, the payments must be applied to penalties, administrative costs, additional interest, financing interest and finally principal. If DCIA 

was applied in this example, no principal would be paid as there is a balance $1,250 in interest.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 41 of 186

September 2016

1-12. After consultation and agreement with OMB, the agency decided to exercise a clause in the program’s legislation allowing it to 

modify the terms of some of the guarantees because of economic downtrends, reducing the present value of those guarantees by 

$1,000.

20 The agency transferred $1,000 from the program fund to the financing fund and reduced the authorized loan guarantee level 

from $100,000 to $95,349.21 The agency also calculated a modification adjustment transfer of $10.

The agency submitted a new request for apportionment (SF-132) for the financing fund, showing the reduced loan guarantee level, and 

OMB approved it., Since the agency had already apportioned subsidy monies in the program fund, a new request for apportionment of 

program fund resources is not required.

 20Before making the modifications, the agency must be certain that it has sufficient unobligated resources for subsidy in the program fund. In this guide, the 

amount of unobligated resources, as represented by allotments related to the subsidy, amounted to $2,150 ($21,500 from transaction 1-3 less $19,350 from 

transaction 1-5).

21The subsidy rate for fiscal year 1 is 21.5 percent. The original subsidy authorized to support $100,000 in loan guarantees was $21,500. The remaining subsidy, 

after the modification, is $20,500. This $20,500 will support the making of only $95,349 in new loans ($20,500/.215).
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 42 of 186

September 2016

 Loan Guarantee Agency

 Fiscal Year 1

SF 132 Apportionment/Reapportionment Schedule

BUDGETARY RESOURCES Financing Fund

Budget authority:

 Appropriations, mandatory:

1250 Anticipated Appropriation 10

Spending authority from offsetting collections, mandatory:

1800 Collected 19,425

1801 Change in Uncollected Payments, Federal Sources 645

1840 Anticipated Collections, Reimbursements, and Other Income 3,390

1920 Total Budgetary Resources 23,470

APPLICATION OF BUDGETARY RESOURCES

Category B (by project)

6012 Default 3,500

6014 Interest Supplements 2,000

6182 Unapportioned Balance of Revolving Fund 17,970

6190 Total Budgetary Resources Available 23,470

GUARANTEED LOAN LEVELS AND APPLICATIONS

8100 Program Level, Current Year 95,349

8211 Guarantee Loan Program 95,349
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 43 of 186

September 2016

1-12. Transactions for 1–12 are following:

Program Fund

To transfer funds to financing funds for modification

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 490200 Delivered Orders – Obligations, Paid [Other]

Proprietary Entry

610000 Operating Expenses/Program Costs

[Basic and Modified Subsidy Expense]

 101000 Fund Balance With Treasury

310700 Unexpended Appropriations - Used

 570000 Expended Appropriations

1,000

1,000

1,000

1,000

 

 

 1,000

 1,000

 

 B106

 

 B134
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 44 of 186

September 2016

Financing Fund

To record new SF132 entry 

DR CR TC

Budgetary Entry

412000 Anticipated Indefinite Appropriation 

 445000 Unapportioned Authority

 

Proprietary Entry

None

10

 10 A102 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 45 of 186

September 2016

Program Fund

To record warrant received for modification adjustment transfer22

DR CR TC

Budgetary Entry

None

Proprietary Entry 

729000 Other Losses

 579100 Adjustment to Financing Sources – Credit Reform

10

 10 

 

 N/A

 22For FY 2012 – use 579000 for 310100 and do not do the 310700/570000 entry. The correction for FY 2013 is needed to properly reflect warrants in the 

intergovernmental elimination process.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 46 of 186

September 2016

Financing Fund 

DR CR TC

Budgetary Entry

412500 Loan Modification Adjustment Transfer 

 412000 Anticipated Indefinite Appropriation

Proprietary Entry 

101000 Fund Balance with Treasury 

 310100 Unexpended Appropriations - Received

 

579100 Adjustment to Financing Sources – Credit Reform 

 218000 Loan Guarantee Liability

 

310700 Unexpended Appropriations – Used 

 570000 Expended Appropriations

10

10

10

10

 10

 

 10 

 10 

 10 

 A202

 A104

 D147R

 B134
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 47 of 186

September 2016

Financing Fund 

To record collection from program fund.

DR CR TC

Budgetary Entry

427100 Actual Program Fund Subsidy Collected

 407000 Anticipated Collections From Federal Sources

Proprietary Entry 

101000 Fund Balance With Treasury

 218000 Loan Guarantee Liability

1,000

1,000

1,000

 1,000 

 

 C103
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 48 of 186

September 2016

Memorandum Accounts - Loan Guarantee Level23

DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Memorandum Entry

802000 Loan Guarantee Level - Apportioned 4,651

 801000 Guaranteed Loan Level 4,651 N/A

 23Original loan level, $100,000, less revised loan level, $95,349 = $4,651.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 49 of 186

September 2016

1-13. Treasury credited $1,160 to the financing fund for interest the fund earned on its unused Fund Balance With Treasury during the 

year. 

Financing Fund

DR CR TC

Budgetary Entry

427300 Interest Collected From Treasury

 407000 Anticipated Collections from Federal Sources

Proprietary Entry 

101000 Fund Balance With Treasury

 531200 Interest Revenue – Loans Receivable/Uninvested Funds

1,160

1,160

1,160

 1,160 

 

 C109
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 50 of 186

September 2016

1-14. The agency accrued loan interest of $5 on the defaulted guaranteed loan principal.

24

Financing Fund

DR CR TC

Budgetary Entry

None

Proprietary Entry

134100 Interest Receivable- Loans [Defaulted Guaranteed Loans]

 139900 Allowance for Subsidy

5

 

 

 5

 

 

 C163R

 24Note that unlike in direct loan programs, interest income accrued on defaulted guaranteed loans receivable is credited to the allowance for subsidy account, 

whether collectible or not. Similarly, interest income collected without first being accrued also would be credited to allowance for subsidy account.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 51 of 186

September 2016

1-15. The agency determined that it could not collect $10 of loan principal and $20 of loan interest and wrote off the receivables.25

Financing Fund

DR CR TC

Budgetary Entry

None

Proprietary Entry

139900 Allow. for Subsidy [Defaulted Guar. Loan Assets

 134100 Interest Receivable -Loans

 135000 Loans Receivable [Defaulted Guaranteed]

30

 

 

 20

 10

 

 

 D414

 25This determination of uncollectibility would be made only after attempting to collect the receivables under provisions of the DCIA.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 52 of 186

September 2016

1-16. The agency accrued interest of $1,180 on its loan guarantee liability and $20 on the present value of its loans. Note: The 

interest accumulation factor26 must net to the amount of interest income received from Treasury–$1,160 (see transaction 1-13). 

Financing Fund

DR CR TC

Budgetary Entry

None

Proprietary Entry

139900 Allowance for Subs. [Defaulted Guar. Loan Assets]

 531300 Interest Revenue – Subsidy Amortization

634000 Interest Exp Accrual on Liability for Loan Guarantee

 218000 Loan Guarantee Liability

20

1,180

 

 

 20

 

 

 

 1,180 

 

 

 E118

 

 E122 

 26The FCRA requires that the rates for discounting cashflows, financing account borrowing, and financing account interest earnings be identical and based on the 

Treasury rate in effect during the period of loan disbursement. If your loans disburse in segments over several years, several interest rates will be applicable to an 

individual loan or group of loans. The correct interest rates are provided for you in the OMB Credit Subsidy Calculator available from your OMB representative.

For loan guarantee financing accounts, the interest rate for cash accumulations related to each loan guarantee is determined by the date that the commercial 

lender disburses the loan being guaranteed. Because commercial lenders may not report to you in a timely manner, you can use an estimated fourth quarter 

amount for disbursements and collections when you report to Treasury at the end of the fiscal year, adjusting this estimate as actual lender data is accumulated.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 53 of 186

September 2016

1-17. Third-party lenders reported that they had collected $10,000 on guaranteed loans in the cohort. 

Financing Fund

Memorandum Accounts for Loans Disbursed

DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Memorandum Entry

806500 Guaranteed Loan Collections, Defaults, and Adjustments

 805000 Guaranteed Loan Principal Outstanding

10,000

10,000 G110
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 54 of 186

September 2016

1-18. At year-end the agency determined that an upward subsidy expense re-estimate related to the loan guarantee liability of $23 was 

required. Since the loans were over 90% disbursed an interest rate re-estimate is required as well as a technical re-estimate. The 

breakdown was as follows: 

Interest Rate Reestimate (13)

Technical Reestimate 33

Interest on Technical Reestimate 3

Total Reestimate 23

Program Fund27

DR CR TC

Budgetary Entry

None

Proprietary Entry

680000 Future Funded Expenses

[Subsidy Expense - Re-estimates – Technical] 36

 

 

 217000 Subsidy Payable to Financing Account 

 680000 Future Funded Expenses

 [Subsidy Expense - Re-estimates - Interest Rate]

 23

 

 13 

 

 B420

 27The interest rate re-estimate is a reporting requirement for the credit supplement of the President’s budget and the credit footnote of the agencies statements. 

Agencies may have other ways of tracking the breakdown than what is presented here.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 55 of 186

September 2016

Financing Fund28

DR CR TC

Budgetary Entry

None

Proprietary Entry

131000 Accounts Receivable

[Subsidy Receivable from Program Fund] 23

 

 

139900 Allow. for Subs. [Defaulted Guar. Loans Rec.] 

 218000 Loan Guarantee Liability

7 

 30 C438

In requesting SF132 and in President’s budget the Interest Rate Re-estimate and Technical Re-estimate are added together. If this 

amount is positive in total, it is an upward re-estimate. The interest is looked at by itself and includes any financing account 

adjustments. If this amount is positive in total, it is an upward re-estimate. If either of the pieces are negative, that piece is a 

downward re-estimate (See year 2 for downward re-estimate entries)

 28The agency must determine the present value breakdown between the defaulted guarantee loan and the remaining guarantees outstanding as only a total reestimate is calculated and approved by OMB.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 56 of 186

September 2016

Financing Fund

To close anticipated resources

DR CR TC

Budgetary Entry

445000 Unapportioned Authority

 406000 Anticipated Collections from Non-Federal Sources

 407000 Anticipated Collections from Federal Sources

1,230

40

1,190 F112

 

Proprietary Entry

None
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 57 of 186

September 2016

Year 1

Pre-Closing Adjusted Trial Balance

Program Fund

Debit/(Credit)

Financing Fund

Debit/(Credit)

Accounts

Budgetary

411500 Loan Subsidy Appropriation 21,500

411700 Loan Administrative Expense Appropriation 5,000

412500 Loan Modification Adjustment Transfer Appropriation 10

422100 Unfilled Customer Orders Without Advance 645

426100 Actual Collections of Business-Type Fees 480

426200 Actual Collections of Loan Principal 40

426300 Actual Collections of Loan Interest 200

427100 Actual Program Fund Subsidy Collected 19,705

427300 Interest Collected From Treasury 1,160

445000 Unapportioned Authority (16,740)

459000 Apportionments - Anticipated Resources - Programs Subject to Apportionment -

461000 Allotments - Realized Resources (1,200) (60)

480100 Undelivered Orders - Obligations, Unpaid (645)

480200 [Other] Undelivered Orders - Obligations, Prepaid/Advanced (24,655) (5,440)

Total 0 0
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 58 of 186

September 2016

 Pre-Closing Adjusted Trial Balance (Continued)

Proprietary

101000 Fund Balance With Treasury 1,845 16,155

131000 Accounts Receivable (Subsidy Recv.) 23

134100 Interest Receivable – Loans 1,035

135000 Loans Receivable 3,450

139900 Allowance for Subsidy (1,698)

217000 Subsidy Payable to the Financing Account (23)

218000 Loan Guarantee Liability (18,965)

310100 Unexpended Appropriations - Appropriations Received (26,500) (10)

310700 Unexpended Appropriations - Used 24,655 10

531200 Interest Revenue - Loans Receivable/Uninvested Funds (Treasury) (1,160)

531300 Interest Revenue - Subsidy Amortization (Int. on PV Assets) (20)

570000 Expended Appropriations (24,655) (10)

579100 Adjustment to Financing Sources - Credit Reform (10) 10

610000 Operating Expenses/Program Costs (Admin.) 4,950

610000 Operating Expenses/Program Costs (Subsidy) 19,705

634000 Interest Expense Accrued on the Liability for Loan Guarantees (Int. on PV of LGL) 1,180

680000 Future Funded Expenses (Subs. Reest. Tech.) 36

680000 Future Funded Expenses (Subs. Reest. Int.) 13

729000 Other Losses 10

Total 0 0
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 59 of 186

September 2016

Pre-Closing Adjusted Trial Balance (Continued)

 Financing Fund Only

 Debit Credit

Loan Guarantee Level

Memorandum Accounts

801000 Guaranteed Loan Level 95,349

801500 Guaranteed Loan Level - Unapportioned -

802000 Guaranteed Loan Level - Apportioned 5,349 (5,349)

804000 Guaranteed Loan Level - Used Authority (90,000)

804500 Guaranteed Loan Level - Unused Authority -

Total 0 0

Loans Disbursed

Memorandum Accounts

805000 Guaranteed Loan Principal Outstanding 72,625 

805300 Guaranteed Loan New Disbursements by Lender (87,000)

806500 Guaranteed Loan Collections, Defaults, and Adjustments 14,375

807000 Guaranteed Loan Cumulative Disbursements by Lenders -

Total 0 0
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 60 of 186

September 2016

1-19 The agency made closing entries. 

Program Fund 

To consolidate net cash resources

DR CR TC

Budgetary Entry

490200 Delivered Orders – Obligations, Paid

420100 Total Actual Resources – Collected

24,655

1,845 F302

 411500 Loan Subsidy Appropriation 

 411700 Loan Administrative Expense Appropriation

Proprietary Entry

None

 21,500

 5,000

 

 

To close unobligated authority 

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 465000 Allotments - Expired Authority

Proprietary Entry

None

1,200

 1,200 F312
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 61 of 186

September 2016

To close financing sources and expenses

DR CR TC

Budgetary Entry

None

Proprietary Entry

570000 Expended Appropriations

579100 Adjustments to Financing Sources

331000 Cumulative Results of Operations

680000 Future Funded Expenses

[Re-estimated Subsidy Expense - Interest Rate]

 610000 Operating Expenses/Program Costs

 [Administrative Expenses]

 610000 Operating Expenses/Program Costs

 [Basic and Modified Subsidy Expense]

 680000 Future Funded Expenses

 [Re-estimated Subsidy Expense – Technical]

 729000 Other Losses

24,655

10

23

13

 

 

 4,950

 19,705

 36

 10

 

 F336
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 62 of 186

September 2016

To consolidate unexpended appropriations

DR CR TC

Budgetary Entry

None

Proprietary Entry

310100 Unexpended Appropriations – App. Received

 310000 Unexpended Appropriations - Cumulative

 310700 Unexpended Appropriations - Used

26,500

 1,845

 24,655

 

 F342
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 63 of 186

September 2016

Financing Fund

To consolidate net cash resources

DR CR TC

Budgetary Entry

490200 Delivered Orders – Obligations, Paid

420100 Total Actual Resources – Collected

 426100 Actual Collection of Business-Type Fees

 426200 Actual Collection of Loan Principal

 426300 Actual Collection of Loan Interest

 427100 Actual Program Fund Subsidy Collected

 427300 Interest Collected From Treasury

 412500 Loan Modification Adjustment Transfer Appropriation

Proprietary Entry

None

5,400

16,155 

 480

 40 

 200

 19,705

 1,160

 10 

 

 F302

 

 F314
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 64 of 186

September 2016

To close unobligated authority

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 445000 Unapportioned Authority

Proprietary Entry

None

60

 60 F308
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 65 of 186

September 2016

To close financing sources and expenses29

DR CR TC

Budgetary Entry

None

Proprietary Entry

531200 Interest Revenue –

Loans Receivable/Uninvested Funds [Treasury] 

531300 Interest Revenue – Subsidy Amortization

570000 Expended Appropriations

 634000 Interest Exp Accrual on Liability for Loan Guarantee

 [Interest Accumulation Factor on PV of LGL]

 579100 Adjustments to Financing Sources

1,160

20

10

 

 1,180

 10

 

 F336

 29Note that the cumulative results of operations from this activity are zero. The financing fund cannot have a net position after closing. Assets must equal 

liabilities.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 66 of 186

September 2016

To consolidate unexpended appropriations

DR CR TC

Budgetary Entry

None

Proprietary Entry

310100 Unexpended Appropriations – Appropriations Received

 310700 Unexpended Appropriations – Used

 10

 

 10 F342

Memorandum Accounts 

Loan Guarantee Level

DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Memorandum Entry

802000 Guaranteed Loan Level – Apportioned

 804500 Guaranteed Loan Level - Unused Authority

5,349

 5,349 F346
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 67 of 186

September 2016

804500 Guaranteed Loan Level – Unused Authority 30

 801000 Guaranteed Loan Level

5,349 

 5,349

 

 F352

Loans Disbursed

DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Memorandum Entry

805300 Guaranteed Loans New Disbursements by Lenders

 807000 Guaranteed Loan Cumulative. Disbursements by Lenders

807000 Guaranteed Loan Cumulative. Disbursements by Lenders

 806500 Guaranteed Loans Collections, Defaults, and Adjustments

87,000

14,375

 87,000

 

 14,375

 F348

 

 F350

 30Since loan authority was available only for one year, there are no unused amounts to carry forward
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 68 of 186

September 2016

Year 1

Post-Closing Trial Balance

Program Fund

Debit/(Credit)

Financing Fund

Debit/(Credit)

Accounts

Budgetary

411500 Loan Subsidy Appropriation -

420100 Total Actual Resources – Collected 1,845 16,155

422100 Unfilled Customer Orders Without Advance 645

445000 Unapportioned Authority (16,800)

465000 Allotments - Expired Authority (1,200)

480100 Undelivered Orders - Obligations, Unpaid (645)

Total 0 0

Proprietary

101000 Fund Balance With Treasury 1,845 16,155

131000 Accounts Receivable (Subs. Recv.) 23

134100 Interest Receivable – Loans 1,035

135000 Loans Receivable 3,450

139900 Allowance for Subsidy (1,698)

217000 Subsidy Payable to the Financing Account (23)

218000 Loan Guarantee Liability (18,965)
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 69 of 186

September 2016

Post-Closing Trial Balance (Continued)

310000 Unexpended Appropriations - Cumulative (1,845)

331000 Cumulative Results of Operations 23

Total 0 0

 Post-Closing Trial Balance (Financing Fund Only)

 Debit Credit

Loan Guarantee Level

Memorandum Accounts

801000 Guaranteed Loan Level 90,000

801500 Guaranteed Loan Level - Unapportioned -

802000 Guaranteed Loan Level - Apportioned -

804000 Guaranteed Loan Level - Used Authority 90,000

804500 Guaranteed Loan Level - Unused Authority -

Total 0 0

Loans Disbursed

805000 Guaranteed Loan Principal Outstanding 72,625 

805300 Guaranteed Loan New Disbursements by Lender -

806500 Guaranteed Loan Collections, Defaults, and Adjustments -

807000 Guaranteed Loan Cumulative Disbursements by Lenders (72,625)

Total 0 0
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 70 of 186

September 2016

Loan Guarantee Agency

 September 30, FY-1

 BALANCE SHEET

Program 

Fund

Elim Financing 

Fund

Total

Assets:

Intragovernmental

1. Fund Balance with Treasury (101000E) 1,845 16,155 18,000

3. Accounts Receivable (131000E) (23) 23

6. Total Intragovernmental (calc.) 1,845 (23) 16,178 18,000

11. Direct Loan and Loan Guarantees, Net (134100E, 135000E, 139900E) 2,787 2,787

15. Total Assets (calc.) 1,845 (23) 18,965 20,787

Liabilities:

17. Accounts Payable (2170000E) 23 (23)

20. Total Intragovernmental 23 (23)

22. Loan Guarantee Liability (218000E) 18,965 18,965

28. Total Liabilities (calc.) 23 (23) 18,965 18,965

Net Position:
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FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 71 of 186

September 2016

BALANCE SHEET

31. Unexpended Appropriations – All Other Funds (310100E, 310700E) 1,845 1,845

33. Cumulative Results of Operations - All Other Funds (531200E, 

570000, 579100, 610000E, 634000E, 680000E, 729000E)

(23) (23)

35. Total Net Position – All Other Funds (calc.) 1,822 1,822

36. Total Net Position (calc.) 1,822 1,822

37. Total Liabilities and Net Position (calc.) 1,845 18,965 20,787
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 72 of 186

September 2016

Loan Guarantee Agency

for Fiscal Year Ended September 30, FY-1

STATEMENT OF NET COST

Program 

Fund

Financing 

Fund

Total

Gross Program Costs:

1. Gross costs (610000E, 634000E, 680000E, 729000E) 24,688 1,180 25,868

2. Less: Earned Revenues (531200E, 531300E) 1,180 1,180

3. Net program costs (calc. 1-2) 24,688

8. Net cost of operations (calc. 5+6-7) 24,688 24,688
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FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 73 of 186

September 2016

 Loan Guarantee Agency

for Fiscal Year Ended September 30, FY-1

STATEMENT OF CHANGES IN NET POSITION

Program Fund Financing Fund31 Total

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative Results of Operations:

Budgetary Financing Sources:

5. Appropriations Used (570000E) 24,655 10 24,665

13. Other (579100E) 10 (10)

14. Total Financing Sources 24,665 1,845 24,665 1,845

15. Net Cost of Operations (+/-) 24,688 24,688

16. Net Change (calc. 14-15) (23) 1,845 (23) 1,845

17. Cumulative Results of Operations (calc. 

3+16)

 (23) 1,845 (23) 1,845

 31Note that the column for unexpended appropriations would normally not be applicable, because the financing fund does not have appropriations. However, 

positive modification adjustment transfers are indefinite appropriated funding.
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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 74 of 186

September 2016

STATEMENT OF CHANGES IN NET POSITION

Unexpended Appropriations:

Budgetary Financing Sources:

21. Appropriations Received (310100E) 26,500 10 26,510

24. Appropriations Used (310700E) (24,655) (10) (24,665)

25. Total Budgetary Financing Sources (calc. 

21..24)

 

1,845 1,845

26. Total Unexpended Appropriations (calc. 

20 + 25) 1,845 1,845

27. Net Position (calc. 17 + 26) (23) 1,845 (23) 1,845
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FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 75 of 186

September 2016

Loan Guarantee Agency

for Fiscal Year Ended September 30, FY-132

STATEMENT OF BUDGETARY RESOURCES

Budgetary Non-Budgetary 

Financing 

Account

Total

Budgetary Resources:

1290 Appropriations (discretionary and mandatory) (411500E, 411700E, 

4125000E)

26,500 10 26,510

1890 Spending authority from offsetting collections (discretionary and 

mandatory) ((426100,426200, 426300,427100,427300,422100E-422100B))

22,230 22,230

1910 Total budgetary resources 

$26,500 $22,240 $48,740

Status of Budgetary Resources:

2190 New obligations and upward adjustments (total) (480100E-480100B,

 490100E-490100B, 490200E)

25,300 5,440 30,740

Unobligated balance, end of year:

 32Statement of Budgetary Resources is a combined report. Inter-entity eliminations are not allowed.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 76 of 186

September 2016

STATEMENT OF BUDGETARY RESOURCES

2204 Apportioned, unexpired account (461000E) 1,200 60 1,260

2404 Unapportioned, unexpired accounts (445000E) 16,740 16,740

2500 Total budgetary resources $26,500 $22,240 $48,740

Change in obligated balance

3012 New obligations and upward adjustments 25,300 5,440 30,740

3020 Outlays (gross) (-) (490200E) 24,655 5,440 30,095

3050 Unpaid obligations, end of year (645) (645)

3072 Change in uncollected pymts, Fed sources (+ or-) (422100E422100B)(645) (645)

3090 Uncollected pymts, Fed sources, end of year (-) (645) (645)
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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 77 of 186

September 2016

STATEMENT OF BUDGETARY RESOURCES

Memorandum (non add) entries

3200 Obligated balance, end of year (+ or -) 645 (645)

Budget Authority and Outlays, Net:

4175 Budget authority, gross (discretionary and mandatory) 26,500 22,240 48,740

4177 Change in uncollected, pymts, Fed sources (discretionary and mandatory) 

(+ or -)

(21,585) (21,585)

4178 Recoveries of prior year paid obligations (discretionary and mandatory) (645) (645)

4180 Budget authority, net (total) (discretionary and mandatory) 26,500 10 26,510

4185 Outlays, gross (discretionary and mandatory) 24,655 5440 30,095

4187 Actual offsetting collections (discretionary and mandatory) (-) (21,585) (21,585)

4190 Outlays, net (total) (discretionary and mandatory) 24,655 (16,145) 8,510
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Page 78 of 186

September 2016

Loan Guarantee Agency

 for Fiscal Year Ended September 30, FY-133

 FUND BALANCE WITH TREASURY FOOTNOTE

Program 

Fund

Financing 

Fund

Total

A. Fund Balance

3. Revolving Funds 16,155 16,155

4. General Funds 1,845 1,845

 Total 1,845 16,155 18,000

B. Status of Fund Balance

1. Unobligated Balances

 (a) Available (461000) 1,200 60 1,260

 (b) Unavailable (445000) 16,740 16,740

2. Obligated Balances not yet disbursed

 (a) Unpaid Obligations (480100) 645 645

 (b) Uncollected customer payments from federal sources 

 (422100)

 (645) (645)

 Total 1,845 16,155 18,000

 33Note: Footnotes are not supported by the USSGL crosswalks.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 79 of 186

September 2016

Loan Guarantee Agency

 September 30, FY-134

Note 8: Credit Program Note

I. Defaulted Guaranteed Loans from Post – 1991 Guarantees:

 Defaulted Guaranteed Loans Receivable, Gross (135000) 3,450

 Interest Receivable (134100) 1,035

 Less Allowance for Subsidy Cost (139900) (1,698)

 Value of Assets Related to Defaulted Guaranteed Loan Receivables, Net $2,787

J. Guaranteed Loans Outstanding:

J1. Guaranteed Loans Outstanding:

 Outstanding Principal of Guaranteed Loans, Face Value (805000) $72,625

 Amount of Outstanding Principle Guaranteed (805000* gtd %) $58,100

J2. New Guaranteed Loans Disbursed (Current reporting year):

 Principle of Guaranteed Loans, Face Value (805300) $87,000

 Amount of Principle Guaranteed (805300 * gtd %) $69,600

K. Liability for Loan Guarantees:

K1. Liability for Loan Guarantees

 Liabilities for Post-1991 Guarantees, Present Value (218000) $18,965

 34The information presented here is for the applicable sections of note 8 Direct Loans and Loan Guarantees, Non-Federal Borrowers in OMB’s Circular A-136, 

Financial Reporting Requirements . A reconciliation of subsidy cost allowance for guaranteed defaults is not required in A-136 so it is not presented; however, 

some organizations present it for consistency with the presentation of direct loans.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

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IN FEDERAL CREDIT PROGRAM

Page 80 of 186

September 2016

 Note 8: Credit Program Note

L Subsidy Expense for Loan Guarantees by Program and Component35:

L1. Subsidy Expense for New Loan Guarantees

Interest Supplements 1,740

Defaults 17,400

Fees and Other Collections (435)

Total $18,705

L2. Modifications and Reestimates (Current reporting year):

Total Modifications 1,000

Interest Rate Reestimates (680000) (13)

Technical Reestimates (680000) 36

Total Reestimates 1,023

L3. Total Loan Guarantee Subsidy Expense:

(equals 610000 + 680000 for subsidy & modification) $19,728

M. Subsidy Rates for Loan Guarantees by Program and Component36

Budget Subsidy Rates for Loan Guarantees for the Current Years Cohorts: Percent

Defaults 20.0

Interest supplements 2.0

Fees and Other Collections (0.5)

 35The components of some of the disclosure in the Credit Program note cannot be derived from the standard USSGL accounts.

36This information is obtained from the subsidy model.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 81 of 186

September 2016

 

 Note 8: Credit Program Note

Total 21.5

N. Schedule for Reconciling Loan Guarantee Liability Balances (Post1991 Loan Guarantees):

a. Interest supplement costs 1,740

b. Default costs (net of recoveries) 17,400

c. Fees and other collections (435)

Total of the above subsidy expense components $18,705

Adjustments:

 a. Loan guarantee modifications 1,000

 b. Fees received (426100) 480

 c. Interest supplements used (1,940)

 d. Foreclosed property and loans acquired 3,000

 e. Claim payment to lenders (3,500)

 f. Interest accumulation on liability balance (634000) 1,180

 g. Other (412500) 10

Ending balance of the loan guarantee liability before reestimates 19,935

Add or subtract subsidy reestimates by component:

a. Interest rate reestimate (prorated based 1399 & 2180 pieces) (17)

b. Technical/default reestimate (prorated based 1399 & 2180 pieces) 47

Total of the above reestimate components 30

Ending balance of the loan guarantee liability before reestimates (218000) $18,965
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IN FEDERAL CREDIT PROGRAM

Page 82 of 186

September 2016

 Note 8: Credit Program Note

O. Administrative Expense37

Loan guarantee programs (610000) $4,950

 37Since the agency operates only a loan guarantee program, and the administrative expense is already set forth in the Statement of Net Cost, Section O could be 

omitted in the guide. It is provided here for illustrative purposes only.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 83 of 186

September 2016

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING

Program Fund Financing Fund

SF133 

Line

Sch P 

Line

SF133 

Line

Sch P 

Line

BUDGETARY RESOURCES

All accounts:

0702 Loan Guarantee Subsidy 19,350

0704 Loan Guarantee Modification 1,000

0709 Administrative Expenses 4,950

0711 Default Claim Payments on Principal 3,500

0715 Interest Supplement 1,940

0900 Total new obligations (490200E) 25,300 5,440

Unobligated balance:

1000 Unobligated balance brought forward, October 1 - -

Budget Authority:

Appropriations:

Discretionary:

1100 Appropriation Discretionary (411500E, 411700E) 26,500 26,500

1160 Appropriation – Discretionary (total) 26,500 26,500
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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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September 2016

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

 ACTUAL COLUMN FOR YEAR 1 REPORTING

Mandatory:

1200 Appropriation (412500E) 10 10

1260 Appropriation – Mandatory (total) 10 10

Spending Authority from Offsetting Collections:

Mandatory:

1800 Collected (426100E,426200E,426300E,427100E,427300E) 21,585 21,585 

1801 Change in uncollected payments, Federal sources (+ or -) (422100E) 645 645

1850 Spending authority from offsetting collections, mandatory 

 (total) 22,230

 

22,230

1930 Total budgetary resources available 26,500 22,240 

Memorandum (non-add) entries:

Unobligated Balance

1940 Unobligated balance expiring (-) (465000E) 1,200

1941 Unexpired unobligated balance, end of year (445000E, 461000E) 16,800

CHANGE IN OBLIGATED BALANCE

Unpaid obligations:

3000 Unpaid obligations, brought forward, Oct 1 - -
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WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 85 of 186

September 2016

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

 ACTUAL COLUMN FOR YEAR 1 REPORTING

3010 New Obligations, unexpired accounts (480100E, 480200E) 25,300 25,300 5,440 5,440

3020 Outlays (gross) (-) (480200E) (24,655) (24,655) (5,440) (5,440)

3050 Unpaid obligations, end of year (480100E) 645 645

3060 Uncollected pymts, Fed sources, brought forward, Oct 1 (-) - -

3070 Change in uncollected pymts, Fed sources, unexpired accounts (+ or -)

(422100E)

645 645

3090 Uncollected pymts, Fed sources, end of year (-) (422100E) 645 645

Memorandum (non-add) entries:

3100 Obligated balance, start of year (+ or -) - -

3200 Obligated balance, end of year (+ or -) (422100E) 645 645

BUDGET AUTHORITY AND OUTLAYS, NET

Discretionary:

Gross budget authority and outlays:

4000 Budget authority, gross (411500E, 411700E) 26,500 26,500

4010 Outlays from new discretionary authority (480200E) 24,655 24,655

4020 Outlays, gross (total) 24,655 24,655

4070 Budget authority, net (discretionary) 26,500 26,500

4080 Outlays, net (discretionary) 24,655 24,655
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FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 86 of 186

September 2016

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

 ACTUAL COLUMN FOR YEAR 1 REPORTING

Mandatory:

Gross budget authority and outlays:

4090 Budget authority, gross (This line is calculated. Equals the sum of 

mandatory budget authority [Lines 1200 through 1252, 1270 through 1273, 

1400 through 1430, 1600 through 1631, and 1800 through 1842 (SF 133). 

Lines 1200 through 1239, 1270 through 1273, 1400 through 1420, 1600 

through 1622, and 1800 through 1827 (Sch P)].)

22,240 22,240 

4110 Total outlays, gross (480200E) 38 5,440 5,440

4120 Federal sources (-) (427100E) (19,705) (19,705)

4122 Interest on uninvested funds (-) (427300E) (1,160) (1,160)

4123 Non-Federal sources (-) (426100E, 426200E, 426300E) (720) (720)

4130 Offsets against gross budget authority and outlays (total) (-) (21,585) (21,585)

4140 Change in uncollected pymts, Fed sources, unexpired 

 accounts(+/-) (422100E)

(645) (645)

4150 Additional offsets against budget authority only (total) (645) (645)

4160 Budget authority, net (mandatory) (This line is calculated. Equals the 

total new budget authority (gross) on line 4090 plus the amounts on lines 

10 10

 38Financing funds are not required to breakdown outlays by New and Balance authority
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September 2016

4120 through 4124 and on lines 4140, 4141 and 4143 (SF 133). Line 4090 

plus the amounts on lines 4120 through 4124 and on lines 4140 and 4142 

(Sch P).)

4170 Outlays, net (mandatory) (This line is calculated. Equals line 4110 

plus the amounts on lines 4120 through 4124.)

(16,145) (16,145)

4180 Budget authority, net (discretionary and mandatory) (This line is 

calculated. Equals sum of lines 4070 and 4160.)

26,500 26,500 10 10

4190 Outlays, net (discretionary and mandatory) (This line is calculated. 

Equals sum of lines 4080 and 4170.)

24,655 24,655 (16,145) (16,145)
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IN FEDERAL CREDIT PROGRAM

Page 88 of 186

September 2016

FISCAL YEAR 2

In fiscal year 1, the agency accrued an upward adjustment of subsidy expense. Although the expense was recognized in fiscal year 1, 

budgetary resources to fund it were not provided until the following year, fiscal year 2. The examples of transactions for the second 

year dispose of the upward subsidy re-estimate accrued at the end of the preceding year. Additionally, in order to provide a more 

realistic understanding of the complexities of accounting for guaranteed loans, new transactions for negative subsidy are introduced 

and borrowing authority issues are presented. At the end of year 2 a downward reestimate will be included. 

By adding new authority in year two the concept of Cohorts is introduced. See A-11 for additional insights into the implications of 

Cohorts. 

Other transactions included in year one would recur in year 2 and subsequent years. These transactions have not been included 

because they provide limited additional value to the case study.

TRANSACTIONS YEAR 2

The agency received one year legislative authority to guarantee 75 percent of the principal and related interest of $100,000 of loans. 

The transactions for these loans will be related to Cohort 2. The previous year’s loans will be Cohort 1.

1. The agency’s subsidy model indicated that, for the $100,000 of loan guarantees, a (5.0) percent subsidy was indicated as follows 

(all cohort 2):

• Present value of expected defaults is 3.46 percent, or $3,460
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September 2016

• Present value of guarantee fees to be collected is (8.46) percent or $8,460 (to be collected during life of loan)

• No interest supplements as interest rates are low

2. The agency has appropriated administrative expenses for fiscal year 2 in the amount of $10,000. (There are no cohorts in the 

program fund.)

3. The agency receives approval for upward re-estimates by OMB for $25. This is an increase of $2 from what was estimated at the 

end of the fiscal year (all cohort 1)

4. The agency estimates the following financing fund transactions for the year:

• $1,000 for guarantee fees (cohort 2)

• $5,000 in negative subsidy (cohort 2)

• $45,000 in defaults (cohort 1)

• $25 in upward re-estimate collections (cohort 1)

• $500 in interest expense on debt (cohort 1)

• $115 in interest expense on debt (cohort 2)

• $250 in interest income on uninvested cash (cohort 1)

• $60 in interest income on uninvested cash (cohort 2)
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Page 90 of 186

September 2016

Loan Guarantee Agency

 Fiscal Year 2

SF 132 Apportionment/Reapportionment Schedule

BUDGETARY RESOURCES Program 

Fund

Financing 

Fund

Budget authority:

Unobligated balance:

1000 Unobligated balance brought forward, Oct 1 16,800

Appropriations, discretionary:

1100 Appropriation 10,000

Appropriations, mandatory:

Spending authority from offsetting collections, 

mandatory:

1250 Anticipated appropriation (+ or -) 25

Borrowing authority, mandatory:

1400 Borrowing authority (414100) 32,790

Spending authority from offsetting collections, 

mandatory:

1840 Anticipated Collections, Reimbursements, and Other Income 

(406000 & 407000) 

1,335

1920 Total Budgetary Resources 10.025 50,925
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Page 91 of 186

September 2016

SF 132 Apportionment/Reapportionment Schedule

APPLICATION OF BUDGETARY RESOURCES

Category B (by project)

6012 Administrative Expense 10,000

6013 Reestimate 10 

6014 Negative Subsidy 5,000

6015 Default Claims 45,000

6016 Treasury Interest39 615

6182 Unapportioned Balance of Revolving Fund40 310

6190 Total Budgetary Resources Available 10,025 50,925

GUARANTEED LOAN LEVELS AND APPLICATIONS

Guaranteed loan limitation

8100 Loan Guarantee Program Level, Current Year 100,000

8211 Guarantee Loan Program 100,000

 39OMB Circular No. A-11, Section 185.19, for financing accounts, additional interest payment amounts to Treasury (i.e. Amounts exceeding your estimate on 

the most recent approved apportionment) are automatically apportioned.

40There should be no unobligated balances remaining if borrowing authority for a cohort is being used unless there is a timing issue where the authority/cash is 

received after the obligation/disbursement needs to be made. As is the case with the interest on uninvested cash.-
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Page 92 of 186

September 2016

2-1 OMB approved and authorized both requests for apportionment. To record SF 132 41

Program Fund-Year 2

DR CR TC

Budgetary Entry

411700 Loan Administrative Expense Appropriation 10,000

412000 Anticipated Indefinite Appropriations 

 445000 Unapportioned Authority

445000 Unapportioned Authority

 4510000 Apportionments

 4590000 Apportionments – Anticipated

Proprietary Entry

101000 Fund Balance With Treasury

 310100 Unexpended Appropriations – Appropriation Received

 25

 10,025

 10,000

 

10,025

10,000

25

10,000

 A104

 A116

 A118

 A110

 

 41Indefinite appropriations are not available until warrant is processed. Per §2025.10, of the TFM, the requirement to request

appropriations by letter includes Indefinite appropriations—Appropriations of an unspecified amount of money.
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Page 93 of 186

September 2016

Financing Fund-Cohort 1

DR CR TC

Budgetary Entry

407000 Anticipated Collections from Federal Sources 

414100 Current-Year Borrowing Authority Realized

 445000 Unapportioned Authority

445000 Unapportioned Authority42

 451000 Apportionments

 459000 Apportionments – Anticipated

 275

28,735

45,500

 

 28,700

 45,225

 275

 

 A140

 F112R

 42Unobligated balance carryforward and borrowing authority are available for apportionment.
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Page 94 of 186

September 2016

Financing Fund -Cohort 2

DR CR TC

Budgetary Entry

406000 Anticipated Collections from Non-Federal Sources

407000 Anticipated Collections from Federal Sources

414100 Current-Year Borrowing Authority Realized

 445000 Unapportioned Authority

445000 Unapportioned Authority43

 451000 Apportionments

 459000 Apportionments – Anticipated

Memorandum Entry

801000 Guaranteed Loan Level

 801500 Guaranteed Loan Level – Unapportioned

801500 Guaranteed Loan Level – Unapportioned

 802000 Guaranteed Loan Level – Apportioned

1,000

60

4,055

5,115

100,000

100,000

 

 5,155

 4,055

 1,060

 100,000

 

 100,000

 A140

 

 

 A152

 A116

 A118

 G102

 G104

 43Borrowing authority is available for apportionment.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 95 of 186

September 2016

2-2 To record warrants received for re-estimate.

Program Fund - Year 2

DR CR TC

Budgetary Entry

411800 Re-estimated Loan Subsidy Appropriation

 412000 Unapportioned Authority

459000 Apportionments – Anticipated

 451000 Apportionments

Proprietary Entry

101000 Fund Balance With Treasury

 310100 Unexpended Appropriations - Received 

25 

25

25

 25 

 25 

 25 

 A104

 

 A122

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 96 of 186

September 2016

2-3. To record allotment of authority. 

Program Fund- Year 2

DR CR TC

Budgetary Entry

451000 Apportionments

 461000 Allotments - Realized Resource

Proprietary Entry

None

10,025

 10,025 A120

Financing Fund – Cohort Year 1

DR CR TC

Budgetary Entry

451000 Apportionments

 461000 Allotments - Realized Resources

Proprietary Entry

None

45,225

 45,225 A120
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 97 of 186

September 2016

Financing Fund – Cohort Year 2

DR CR TC

Budgetary Entry

451000 Apportionments

 461000 Allotments - Realized Resources

Proprietary Entry

None

4,055

 4,055 A120

2-4. The agency transferred the re-estimated subsidy from the program fund to the financing fund. The reestimate for the prior year 

was for $23. Since the reestimate for the President’s Budget increased it by $2, the incremental amount was recorded in the current 

year as an adjustment to the Guarantee Liability. The unfunded expense of $23 was reversed from the Program Fund for Year 1 and 

the actual funded expense of $25 is recorded in the unexpired program fund which funds the reestimate from current reestimate

appropriation. 

Program Fund - Year 1

DR CR TC

Budgetary Entry

None

Proprietary Entry

217000 Subsidy Payable to Financing Account

 680000 Future Funded Expense

23 

 23

 

 B420R
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 98 of 186

September 2016

Program Fund - Year 2

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 490200 Delivered Orders – Obligations,

 Paid [Re-est. Subsidy and Interest]

Proprietary Entry

610000 Operating Expense/Program Costs

 101000 Fund Balance With Treasury

310700 Unexpended Appropriations – Used

 570000 Expended Appropriations

25

25

25

25

25

25

 

 A512

 A146

 B134
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 99 of 186

September 2016

Financing Fund - Cohort 1

DR CR TC

Budgetary Entry

427100 Actual Program Fund Subsidy Collected

 407000 Anticipated Collections from Federal Sources

Proprietary Entry

101000 Fund Balance With Treasury

 131000 Accounts Receivable

 [Subsidy Receivable from Program Fund]

 21800 Loan Guarantee Liability

459000 Apportionments - Anticipated Resources 

- Programs Subject to Apportionment

 461000 Allotments

25

25

25

25

23

2

25

 C103

 

 A122
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 100 of 186

September 2016

2-5. The agency makes an expenditure transfer of administrative expense reimbursement to its S&E fund 

Program Fund – Year 2

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 490200 Delivered Orders - Obligations, Paid

Proprietary Entry

610000 Operating Expenses/Program Costs

 101000 Fund Balance With Treasury

310700 Unexpended Appropriations – Used

 570000 Expended Appropriations

10,000

10,000

10,000

10,000

10,000

10,000

 B107

 

 A146

 B107

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 101 of 186

September 2016

2-6 Agency converts $28,735 of borrowing authority to cash.44

Financing Fund - Cohort 1

DR CR TC

Budgetary Entry

414800 Resources Realized From Borrowing Authority 

 414500 Borrowing Authority Converted to Cash

Proprietary Entry

101000 Fund Balance With Treasury

 251000 Principal Payable to the Bureau of the Public Debt

 28,735

 28,735

28,735

28,735

 A156

 

 

 44Agencies may borrow an estimated amount or on as needed basis
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 102 of 186

September 2016

2-7 Agency pays 35,000 to honor 80% guarantee of 43,750 of defaulted principal funded by borrowing authority. 

Financing Fund - Cohort 1

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 490200 Delivered Orders - Obligations, Paid

Proprietary Entry

218000 Loan Guarantee Liability 

 101000 Fund Balance With Treasury 

 35,000 

 35,000

35,000

 35,000

 

 B104

 

Memorandum Accounts - Loans Disbursed

DR CR TC

Memorandum Entry

806500 Guaranteed Loan Collections, Defaults, and Adjustments 43,750

 805000 Guaranteed Loan Principal Outstanding 43,750

 

 

 G110
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 103 of 186

September 2016

2-8. The agency acquired receivables for loans of $35,000 and interest of $1,250 in conjunction with the defaults. The agency will 

attempt to collect this money directly from the borrowers. The present value of cash flows related to the loans is estimated to be 

$30,000. 

Financing Fund – Cohort 1

To establish accounts receivable for defaulted loan.

DR CR TC

Budgetary Entry

None

Proprietary Entry

134100 Interest Receivable -Loans [Defaulted Guaranteed Loans]

135000 Loans Receivable [Defaulted Guaranteed Loans] 

 139900 Allow. for Subs. [Defaulted Guaranteed Loans]

 218000 Loan Guarantee Liability

1,250

35,000 

 6,250

 30,000

 

 C428
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 104 of 186

September 2016

2-9 Agency makes a commitment for loan guarantees of $80,000 with a negative subsidy of $4,000. The agency is guaranteeing 75% 

of the loan. Negative Subsidy is funded with borrowing authority. Collection of guarantee fee also made at this time.

Financing Fund - Cohort 2

DR CR TC

Budgetary Entry

426100 Collection of fees

 406000 Anticipated Collections – Non-Federal

459000 Apportionments – Anticipated

 461000 Allotments – Realized Resources

461000 Allotments – Realized Resources

 480100 Undelivered Orders – Negative Subsidy

Proprietary Entry

800

800

4,000

 

800

800

4,000

 C117

 A122

 B306

101000 Fund Balance With Treasury

 218000 Loan Guarantee Liability

Memorandum Entry

802000 Guaranteed Loan Level Apportioned

 804000 Guaranteed Loan Level – Used Authority

800

80,000

 800

 

 80,000

 

 C117

 

 G106
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 105 of 186

September 2016

2-10 Third party lenders notified agency of disbursing $2,000 of Cohort 1 loans and $60,000 of Cohort 2 loans.

45

Program Fund – Year 1

DR CR TC

Budgetary Entry

480100 Undelivered Orders – Unpaid

 490200 Delivered Orders – Paid

Proprietary Entry

430

430 

 A146 

610000 Program Expense – Subsidy

 101000 Fund Balance With Treasury

310700 Unexpended Appropriations – Used

 570000 Expended Appropriations

 430

 430

 430

 430

 

 B134

 45Original subsidy rate for each cohort must be used in calculating subsidy transfer amount – Cohort 1 2,000 x 21.5% = 430. Cohort 2 60,000 x (5%) = 3,000. 

Note – Since one cohort cannot pay for another cohort’s obligation, there is not enough cash in Cohort 2 to cover the negative subsidy payment. Only cash is 

$800 in fees collected. Therefore, the borrowing authority must be converted to cash.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 106 of 186

September 2016

Program Fund – Year 2

DR CR TC

Budgetary Entry

None

Proprietary Entry

579100 Adjustment to Financing Sources 3,000

 619900 Adjustment to Subsidy Expense 3,000 N/A

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

427100 Actual Subsidy Collections

 422100 Unfilled Customer Order

Proprietary Entry

430

430 

 C103

101000 Fund Balance with Treasury

 218000 Loan Guarantee Liability

Memorandum Entry

805000 Guaranteed Loan Principal Outstanding

 805300 Guaranteed Loan New Disbursements

 430

 

 2000

 430

 

 2000

 

 

G108
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 107 of 186

September 2016

Financing Fund – Cohort 2

DR CR TC

Budgetary Entry

414800 Resources Realized from Borrowing Authority 

 414500 Borrowing Authority Converted to Cash

480100 Undelivered Orders – Negative Subsidy

 490200 Delivered Orders – Negative Subsidy

Proprietary Entry

2,200

3,000

2,200

3,000

 A156

 

 A146 

101000 Fund Balance with Treasury

 251000 Debt Outstanding

218000 Loan Guarantee Liability

 579100 Adjustments to Financing Sources

577600 Non-budgetary Financing Sources Trans Out

 101000 Fund Balance with Treasury

Memorandum Entry

805000 Guaranteed Loan Principal Outstanding

 805300 Guaranteed Loan New Disbursements

 2,200

 3,000 

 3,000

 

 60,000

 2,200

 3,000

 

 3,000

 

 60,000

 A156

 

 D147

 E509

 

 

 G108 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 108 of 186

September 2016

Miscellaneous Receipt Account (negative subsidy TAFS)

DR CR TC

Budgetary Entry

None

Proprietary Entry

101000 Fund Balance With Treasury

 

 3,000 

 577500 Non-budgetary Financing Sources Trans In

599300 Offset to Non-Entity Collections Stmt of Changes in Net Position46

 298500 Liability for Non-Entity Assets47

 

 3,000

3,000

 

 

 3,000 

 C155

 

 C147

 46These SGLs are always Federal with trading partner 099
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 109 of 186

September 2016

2-11 Agency accrues interest on Fund Balance with Treasury for November reporting period. Therefore, there will only be an accrual 

for cohort 1. Other methodologies are acceptable per OMB approval. 

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

428300 Interest Receviable from Treasury

 407000 Anticipated Collections from Federal Sources

459000 Apportionments – Anticipated

 461000 Allotments – Realized Resources

Proprietary Entry

134000 Interest Receivable – Uninvested Cash

 531200 Interest Revenue – Loans/Uninvested

193

 

 193

 193

193

 

 193 

 193 

 C416

 

 A122

 C402

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 110 of 186

September 2016

2-12 Agency accrues interest on debt outstanding from The Bureau of the Fiscal Service (FS) for November using FS reports. There 

will be an accrual for both cohorts and interest rates can be different. 

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

461000 Allotments – Resources Realized

 490100 Delivered Orders – Unpaid

Proprietary Entry

 83

 83

 B418

631000 Interest Expense

 214100 Interest Payable

83

 83 

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 111 of 186

September 2016

Financing Fund – Cohort 2

DR CR TC

Budgetary Entry

461000 Allotments – Resources Realized

 490100 Delivered Orders – Unpaid

Proprietary Entry

 10

 10

 B418

631000 Interest Expense

 214100 Interest Payable

10

 10 

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 112 of 186

September 2016

2-13 Agency is notified by cohort 1 borrowers that the remaining amounts of the loan are no longer needed. Agency cancels 

remaining commitment and deobligates remaining subsidy47

Program Fund – Year 1

DR CR TC

Budgetary Entry

487100 Downward Adjustment Prior Year Undelivered 215

 465000 Expired Authority

Proprietary Entry

None

215

 

 D120

 47The original subsidy rate is used in determining the amount of subsidy to de-obligate with the commitment cancelation.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 113 of 186

September 2016

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

461000 Allotments – Realized Resources48 215

 422100 Unfilled Customer Order

Proprietary Entry

None

Memorandum Entry

804000 Guaranteed Loan Level- Used Authority 

 801000 Guaranteed Loan Level

 

 1,000

215

 

 

 1,000 

 F109

 

 F344

 48Amount of unfilled order cancellation could have been anticipated in the SF132 in which case the amount would debit 407000.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 114 of 186

September 2016

2-14 After consultation and agreement with OMB, the agency decided to exercise a clause in the program’s legislation allowing it to 

modify the terms of cohort 1 guarantees. The modification caused a savings for the program of $1,000 and a modification adjustment 

transfer of $30.

The agency submitted a new request for apportionment (SF-132) for the financing fund.

 Loan Guarantee Agency

Fiscal Year 2

 SF 132 Apportionment/Reapportionment Schedule

BUDGETARY RESOURCES Financing 

Fund

Budget authority:

Unobligated balance:

1000 Unobligated balance brought forward, Oct 1 16,800

Borrowing authority, mandatory:

1400 Borrowing authority (414100) 32,790

Spending authority from offsetting collections, 

mandatory:

1800 Collected 1,255

1801 Change in Uncollected Payments, Federal Sources (237)

1840 Anticipated Collections, Reimbursements, and Other Income 

(406000 & 407000) 

317

1842 Anticipated capital transfers and redemption of debt 

(spending authority from offsetting collections) (-)

49

(30)

 49Amounts could come from prior year balances if there is enough remaining to cover. In that instance the amounts would be shown on line 1042.
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 115 of 186

September 2016

SF 132 Apportionment/Reapportionment Schedule

1920 Total Budgetary Resources 50,895

APPLICATION OF BUDGETARY RESOURCES

Category B (by project)

6014 Negative Subsidy 5,000

6015 Default Claims 40,000

6016 Treasury Interest 615

6017 Modification 1,000

6182 Unapportioned Balance of Revolving Fund 4,280

6190 Total Budgetary Resources Available 50,895

GUARANTEED LOAN LEVELS AND APPLICATIONS

Guaranteed loan limitation

8100 Loan Guarantee Program Level, Current Year 100,000

8211 Guarantee Loan Program 100,000
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 116 of 186

September 2016

SF132 entries

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

461000 Allotments50 4,000

 445000 Unapportioned Authority

445000 Unapportioned Authority

 404700 Anticipated Transfers to General Fund Current Year Auth51

 30

4,000

 

 30 

 F308

 A142

 50Reduce allotments $5,000 for reduction in estimated defaults and increase $1,000 for modification. Net reduction of $4,000 51Use 404800 if funds are anticipated from prior year authority
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 117 of 186

September 2016

After approved SF132 is received, SF1151 request transferring modification adjustment transfer from financing fund to treasury 

general fund (TAS xxx2814, where xxx is agency id) at the same time payment is made to the general fund (agency’s negative subsidy 

account).

Modification Savings

Program Fund – Year 2

DR CR TC

Budgetary Entry

None

Proprietary Entry

579100 Adjustments to Financing Sources

 619900 Adjustments to Subsidy Expense

 1,000

 

 1,000 

 

 N/A
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 118 of 186

September 2016

Financing Fund – Cohort 1 

DR CR TC

Budgetary Entry

461000 Allotments 1,000

 49020000 Delivered Orders-Paid

Proprietary Entry

218000 Loan Guarantee Liability

 101000 Fund Balance With Treasury

577600 Nonbudgetary Financing Sources Transfers Out

 579100 Adjustments to Financing Sources

 

 1,000

 1,000

1,000

 

 

 1,000

 1,000 

 A512

 

 B104

 F336R 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 119 of 186

September 2016

Miscellaneous Receipt Account (negative subsidy TAS)

DR CR TC

Budgetary Entry

None

Proprietary Entry

1010000 Fund Balance With Treasury

 577500 Nonbudgetary Financing Sources Transfers In

599300 Offset to Non-Entity Collections

 298500 Liability for Non-Entity Assets not report on SOC

 1,000

 1,000

 

 1,000

 1,000 

 

 C155

 C147
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 120 of 186

September 2016

Modification Adjustment Transfer

Program Fund – Year 2

DR CR TC

Budgetary Entry

None

Proprietary Entry

579100 Adjustments to Financing Sources

 719000 Other Gains

 30

 

 30 

 

 N/A
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 121 of 186

September 2016

Financing Fund – Cohort 1 

DR CR TC

Budgetary Entry

404700 Anticipated Transfers to General Fund

 415100 Actual Capital Transfers to General Fund Current Year52

 30

Proprietary Entry

218000 Loan Guarantee Liability

 101000 Fund Balance With Treasury

577600 Nonbudgetary Financing Sources Transfers Out

 579100 Adjustments to Financing Sources

 30

 30

30

 

 30

 30 

 B119

 B104

 F336R

 

 52Use 404800/415200 if funds paid from prior year authority
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 122 of 186

September 2016

Miscellaneous Receipt Account (xx2814 TAS)

DR CR TC

Budgetary Entry

None

Proprietary Entry

1010000 Fund Balance With Treasury

 575600 Nonexpenditure Financing Sources Transfers In Capital Transfer

599300 Offset to Non-Entity Collections

 298500 Liability for Non-Entity Assets not report on SOC

 30

 30

 

 30

 30 

 

 C196

 C147
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 123 of 186

September 2016

2-15 Year-end interest earned on Cash and interest expense to BPD calculated using Financing Account Interest Calculator (FAIC) as 

follows. Cohort 1 earned $323 and expense $500; Cohort 2 $62 and expense $85.

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

427300 Interest Collected From Treasury

 428300 Interest Receivable From Treasury

 407000 Anticipated Federal Collections

 323

193

130

459000 Anticipated Apportionments

 461000 Allotments

461000 Allotments

490100 Delivered Orders – Unpaid

 490200 Delivered Orders – Paid

Proprietary Entry

101000 Fund Balance With Treasury

 134000 Interest Receivable

 531200 Interest Income

 57

 

 417

 83 

 323 

 

 

 

 57

 

 500 

 

 193

 130

 

 

 A122

 

 

 C109
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 124 of 186

September 2016

214100 Interest Payable

631000 Interest Expense

101000 Fund Balance with Treasury

 83

 417

 500

 

 N/A 

Financing Fund – Cohort 2

DR CR TC

Budgetary Entry

459000 Anticipated Apportionments

 461000 Allotments

 85

85 A122

427300 Interest Collected From Treasury

 407000 Anticipated Federal Collections

461000 Allotments

490100 Delivered Orders – Unpaid

 490200 Delivered Orders – Paid

Proprietary Entry

1010000 Fund Balance With Treasury

 531200 Interest Income

85

 

 52

 10

 

 

 85

 

 

 85

 

 62 

 

 85

 

 

 C109
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 125 of 186

September 2016

214100 Interest Payable

631000 Interest Expense

 101000 Fund Balance with Treasury

 10

 52 

 

 62 N/A 

2-16 Agency determines that there will no further obligations. Agency returns borrowing converted to cash and not obligated for

cohort 1 and reduces borrowing authority for cohort 2 as required in A-11. Calculations below are based on timing.

Financing Fund – Cohort 1

Cash beginning of year 16,155

Upward reestimate 25

Default payment (35,000)

Subsidy collected 430

Modification & adjustment (1,030)

Interest Income 323

Interest Expense (500)

Borrowings needed for payment 18,820 600 177

Total Borrowings used 19,597

Total Borrowings converted 28,735

Return 9,138 excess borrowings converted to cash
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 126 of 186

September 2016

DR CR TC

Budgetary Entry

461000 Allotments – Realized Resources

445000 Unapportioned Authority

 4,785

 4,353

 414200 Actual Repayments of Borrowing Authority Converted

Proprietary Entry

251000 Principal Payable to the Bureau of the Public Debt

 101000 Fund Balance With Treasury

 9,138 

9,138

 

 9,138 

 

 B120

Financing Fund – Cohort 2

Negative Subsidy Obligations 4,000

Less: Fees collected (800)

Interest Income 85

Interest Expense (62)

Borrowing Authority needed 3,200 (23)

Total Borrowing Authority needed 3,177

Borrowing Authority provided 4,055

Withdraw 878 of borrowing authority
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 127 of 186

September 2016

DR CR TC

Budgetary Entry

461000 Allotments – Realized Resources

 414300 Current year decreases to borrowing authority

 878

878

 

 A148

Proprietary Entry

None 

 

 

 

2-17 The modeling team reestimated the cost for Cohort year 1 and 2. There was a technical downward reestimate for year 2 of 50 

and technical upward for year one of 20. There was no interest reestimate. Cohorts are accounted for separately in the financing 

funds. Budgetary information is reported in GTAS by Cohort in fourth quarter (required for fourth, but can be more often). 

Cohort 1(Cohort only exists in Financing Fund)

Program Fund Year 2

DR CR TC

Budgetary Entry

None 

Proprietary Entry

680000 Future Funded Expenses

[Subsidy Expense - Re-estimates – Technical]

 217000 Subsidy Payable to Financing Account

 20

 

 

 20 

 

 B420
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 128 of 186

September 2016

Financing Fund Cohort 1

DR CR TC

Budgetary Entry

None 

Proprietary Entry

131000 Accounts Receivable

[Subsidy Receivable from Program Fund]

 218000 Loan Guarantee Liability

 

 20 

 

 20 

 

 C438
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 129 of 186

September 2016

Cohort 2 (Cohort only exists in Financing Fund)

Program Fund - Year 2

DR CR TC

Budgetary Entry

None 

Proprietary Entry

579100 Adjustment to Financing Sources

– Downward Reestimate or Negative Subsidy

 680000 Future Funded Expenses

 [Subsidy Expense - Re-estimates – Technical]

 

 50

 

 

 

 50 

 

 

 D146
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 130 of 186

September 2016

Financing Fund – Cohort 2

DR CR TC

Budgetary Entry

None 

Proprietary Entry

218000 Loan Guarantee Liability 

 579100 Adjustment to Financing Sources

– Downward Reestimate or Negative Subsidy

577600 Nonbudgetary Financing Sources Transferred Out

 299000 Other Liabilities Without Budgetary Obligations

 50

 

 50 

 

 50

 50 

 

 

 D147

 D148
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 131 of 186

September 2016

Miscellaneous Receipts Fund (Downward Reestimate TAS)

DR CR TC

Budgetary Entry

None 

Proprietary Entry

131000 Accounts Receivable

 577500 Nonbudgetary Financing Sources Transferred In

599400 Offset to Non-entity Collections

 298500 Liability for Non-Entity Assets Not

Reported on the Statement of Custodial Activity

 50

 

 50 

 

 50

 50 

 

 

 C420

 C405
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 132 of 186

September 2016

2-18 The agency accrued interest on its loan guarantee liability and on the present value of its loans. 

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

None 

Proprietary Entry

139900 Allowance for Subs. [Defaulted Guar. Loan Assets]

 531300 Interest Revenue – Subsidy Amortization

634000 Interest Exp Accrual on Liability for Loan Guarantee

 218000 Loan Guarantee Liability

 293

 

 116

 

 

 293

 116 

 

 

 E118

 E122

Financing Fund – Cohort 2

DR CR TC

Budgetary Entry

None 

Proprietary Entry

634000 Interest Exp Accrual on Liability for Loan Guarantee

 218000 Loan Guarantee Liability

 23

 

 

 23 

 

 E122
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 133 of 186

September 2016

Pre-Closing Entries

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

407000 Anticipated Federal Collections

 445000 Unapportioned Authority

 73 

73

 

 A140

Proprietary Entry

None

 

 

 

 

 

 

 

Financing Fund – Cohort 2

DR CR TC

Budgetary Entry

407000 Anticipated Federal Collections

459000 Anticipated Apportionments

 25

 175 

 

 

 406000 Anticipated Non-Federal Collections

Proprietary Entry

None

 

 

 200

 

 

 

 A140

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 134 of 186

September 2016

Miscellaneous Receipts Fund Downward Reestimate

DR CR TC

Budgetary Entry

None 

 

Proprietary Entry

298500 Liability for Non-Entity Assets Not

Reported on the Statement of Custodial Activity

 101000 Fund Balance w Treasury

 

 4,000 

 

 

 

 4,000 

 

 

 

 F124

Miscellaneous Receipts Fund Other Repayments of Investments and Recoveries (xxx2814)

DR CR TC

Budgetary Entry

None 

 

Proprietary Entry

298500 Liability for Non-Entity Assets Not

Reported on the Statement of Custodial Activity

 101000 Fund Balance w Treasury

 

 30 

 

 

 

 30 

 

 

 

 F124
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 135 of 186

September 2016

Year 2

Pre-Closing Adjusted Trial Balance

Program Fund

Accounts Year 1 

(Expired)

Debit/(Credi

t)

Year 2 

(Unexpired 

during Year 2)

Debit/(Credit)

Total

Debit/(Credit)

Budgetary

411700 Loan Administrative Expense Appropriation 10,000 10,000

411800 Reestimated Loan Subsidy Appropriation 25 25

420100 Total Actual Resources – Collected 1,845 1,845

465000 Allotments - Expired Authority (1,415) (1,415)

480100 Undelivered Orders - Obligations, Unpaid (215) (215)

487100 Downward Adjustments of Prior-Year Unpaid Undelivered 

Orders - Obligations, Recoveries

215 215

490200 Delivered Orders - Obligations, Paid (Admin) (10,000) (10,000)

490200 Delivered Orders - Obligations, Paid (Subsidy) (430) (430)

490200 Delivered Orders - Obligations, Paid (Reestimate) (25) (25)

Proprietary
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 136 of 186

September 2016

Pre-Closing Adjusted Trial Balance (Continued)

101000 Fund Balance With Treasury 1,415 1,415

217000 Subsidy Payable to the Financing Account (20) (20)

310000 Unexpended Appropriations - Cumulative (1,845) (1,845)

310100 Unexpended Appropriations - Appropriations Received (10,025) (10,025)

310700 Unexpended Appropriations - Used 430 10,025 10,445

331000 Cumulative Results of Operations 23 23

570000 Expended Appropriations (430) (10,025) (10,445)

579100 Adjustment to Financing Sources - Credit Reform 4,080 4,080

610000 Operating Expenses/Program Costs (Admin) 10,000 10,000

610000 Operating Expenses/Program Costs (Subsidy) 430 25 455

619900 Adjustment to Subsidy Expense (4,000) (4,000)

680000 Future Funded Expenses (Technical) (36) (30) (66)
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 137 of 186

September 2016

Pre-Closing Adjusted Trial Balance (Continued)

680000 Future Funded Expenses (Interest) 13 13

719000 Other Gains (30) (30)

Pre-Closing Adjusted Trial Balance

Financing Fund 

Year 1 

Cohort

Debit/(Credi

t)

Year 2 Cohort

Debit/(Credit)

Total

Debit/(Credit)

Accounts

Budgetary

414100 Current-Year Borrowing Authority Realized 

28,735 4,055

 

32,790

414200 Actual Repayment of Borrowing Authority Converted to 

Cash

 

(9,138)

 

(9,138)

414300 Current-Year Decreases to Indefinite Borrowing 

Authority Realized

 

(878)

 

(878)

414500 Borrowing Authority Converted to Cash 

(28,735)

 

(2,200)

 

(30,935)
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 138 of 186

September 2016

Pre-Closing Adjusted Trial Balance (Continued)

414800 Resources Realized From Borrowing Authority 

28,735

 

2,200

 

30,935

415100 Actual Capital Transfers to the General Fund of the 

Treasury, Current-Year Authority

 

(30)

(30)

420100 Total Actual Resources - Collected 

16,155 16,155

426100 Actual Collections of Business-Type Fees 800 800

427100 Actual Program Fund Subsidy Collected

455

 

455

427300 Interest Collected From Treasury 

323

 

85

 

408

480100 Undelivered Orders - Obligations, Unpaid (Negative 

Subsidy)

 

(1,000)

 

(1,000)

490200 Delivered Orders - Obligations, Paid (Defaulted Gty) 

(35,000)

 

(35,000)

490200 Delivered Orders - Obligations, Paid (Treas Interest) (500) (62) (562)

490200 Delivered Orders – Obligations, Paid (Modification) 

(1,000)

 

(1,000)

490200 Delivered Orders - Obligations, Paid (Negative Subsidy) (3,000) (3,000)

Proprietary
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 139 of 186

September 2016

Pre-Closing Adjusted Trial Balance (Continued)

101000 Fund Balance With Treasury 23 23

131000 Accounts Receivable 

20 20

134100 Interest Receivable – Loans 

2,285 2,285

135000 Loans Receivable 

38,450 38,450

139900 Allowance for Subsidy 

(7,655)

 

(7,655)

218000 Loan Guarantee Liability 

(13,503) 2,227

 

(11,276)

251000 Principal Payable to the Bureau of the Fiscal Service 

(19,597)

 

(2,200)

 

(21,797)

299000 Other Liabilities Without Related Budgetary Obligations 

(50)

 

(50)

531200 Interest Revenue - Loans Receivable/Uninvested Funds 

(323)

 

(85)

 

(408)

531300 Interest Revenue - Subsidy Amortization 

(293)

 

(293)

576600 Nonexpenditure Financing Sources - Transfers-Out -

Capital Transfers

 

30

 

30
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 140 of 186

September 2016

Pre-Closing Adjusted Trial Balance (Continued)

577600 Nonbudgetary Financing Sources Transferred Out 

1,000

 

3,050

 

4,050

579100 Adjustment to Financing Sources - Credit Reform 

(1,030)

 

(3,050)

 

(4,080)

631000 Interest Expenses on Borrowing From the Bureau of the 

Fiscal Service and/or the Federal Financing Bank

 

500

 

62

 

562

634000 Interest Expense Accrued on the Liability for Loan 

Guarantees

 

116 23 139

Preclosing Trial Balance (Miscellaneous Receipt Account)

 Debit/(Credit)

Accounts

131000 Accounts Receivable 50 

298500 Liability for Non-Entity Assets Not Reported on the Statement of Custodial Activity (50) 

575600 Nonexpenditure Financing Sources - Transfers-In - Capital Transfers (30)

577500 Nonbudgetary Financing Sources Transferred In (4,050)

599300 Offset to Non-Entity Collections - Statement of Changes in Net Position 4,030

599400 Offset to Non-Entity Accrued Collections - Statement of Changes in Net Position 50

Total 0
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 141 of 186

September 2016

 Pre-Closing Adjusted Trial Balance (Financing Fund Only)

Cohort 1

Debit/(Credit)

Cohort 2

Debit/(Credit)

Total

Debit/(Credit)

Loan Guarantee Level

Memorandum Accounts

801000 Guaranteed Loan Level 

89,000 

 

100,000

 

189,000

802000 Guaranteed Loan Level - Apportioned 

(20,000)

 

(20,000)

804000 Guaranteed Loan Level - Used Authority 

(89,000)

 

(80,000)

 

(169,000)

Total

 

0

 

0

 

0

Loans Disbursed

Memorandum Accounts

805000 Guaranteed Loan Principal Outstanding 

30,875

 

60,000

 

90,875

805300 Guaranteed Loan New Disbursements by Lender 

(2,000)

 

(60,000)

 

(62,000)

806500 Guaranteed Loan Collections, Defaults, and Adjustments 43,750 43,750
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 142 of 186

September 2016

Pre-Closing Adjusted Trial Balance (Continued)

807000 Guaranteed Loan Cumulative Disbursements by Lenders (72,625) (72,625)

Total 

0

 

0

 

0

 

2-19. The agency made closing entries. 

Program Fund - Year 1

DR CR TC

Budgetary Entry

490200 Delivered Orders

 420100 Total Resources

480100 Undelivered Orders

 430

 215

 430 F314

 

 487100 Downward Adjustment of Undelivered Orders

Proprietary Entry

310000 Unexpended Appropriations

 310700 Unexpended Appropriations – Used

570000 Expended Appropriations 

 610000 Operating Expenses/Program./Costs

 

 430

 

 430

 215

 

 

 430

 

 430 

 F332

 

 

 F342

 

 F336
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 143 of 186

September 2016

680000 Future Funded Expenses

 331000 Cumulative Results of Operations

 23 

 23 

 

Program Fund - Year 2

DR CR TC

Budgetary Entry

490200 Delivered Orders

 411700 Loan Administrative Appropriation

 411800 Reestimated Appropriation

 10,025

 

 10,000

 25 

 

 

Proprietary Entry

310100 Unexpended Appropriations – Approp. Received

 310700 Unexpended Appropriations – Used

570000 Expended Appropriations 

 610000 Operating Expenses/Program./Costs

680000 Future Funded Expenses

331000 Cumulative Results of Operations

619900 Adjustments to Subsidy Expense

719000 Other Gains

 10,025 

 

 10,025

 

 30

 20

 4,000

 30 

 

 

 10,025

 

 10,025

 

 F342

 

 F336

 

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 144 of 186

September 2016

 579100 Adjustments to Financing Sources 4,080 

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

414500 Borrowing Authority Converted to Cash

 414100 Borrowing Authority

 28,735 

 

 28,735 F306 

414200 Actual Repayment of Borrowing Auth Convert

415100 Actual Capital Transfers

490200 Delivered Orders

 414800 Resources Realized from Borrowing Auth

 420100 Total Actual Resources - Collected

 427100 Actual Program Fund Subsidy Collected

 427300 Interest Collected from Treasury

Memorandum Entry

805300 Guaranteed Loan New Disbursements

807000 Guaranteed Loan Cumulative

 806500 Guaranteed Loan Collections, Defaults, Adjustments

 9,138

 30 

 36,500

 

 

 

 

 2,000

 41,750

 

 

 28,735

 16,155

 455 

 323

 43,750

 

 

 F302

 

 

 

 

 F348

 F350

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 145 of 186

September 2016

Financing Fund – Cohort 2

DR CR TC

Budgetary Entry

414300 Current-Year Decreases of Indef Borrow Auth 

414500 Borrowing Authority Converted to Cash

414900 Borrowing Authority Carried Forward

 414100 Borrowing Authority

 878

 2,200

 977

 

 4,055

 

 F306

 

420100 Total Actual Resources - Collected

490200 Delivered Orders

 414800 Resources Realized from Borrowing Auth

 426100 Actual Collection of Business Type Fees

 427300 Interest Collected from Treasury

Proprietary Entry

531200 Interest Revenue – Loans

579100 Adjustments to Financing Sources-Credit Reform

 577600 Nonbudgetary Transfers Out

 631000 Interest Expense – Debt

 634000 Interest Expense – Gtd Liability

 23

 3,062 

 

 

 

 

 

 85

 3,050 

 

 

 

 2,200

 800

 85

 

 

 3,050

 62

 23

 

 

 

 F302

 

 

 

 F336

 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 146 of 186

September 2016

Memorandum Entry

802000 Guaranteed Loan Level – Apportioned

 804500 Guaranteed Loan Level – Unused Authority

805300 Guaranteed Loan New Disbursements

 807000 Guaranteed Loan Cumulative

 20,000

 

 60,000

 20,000

 

 60,000

 

 F346

 

 F348

Miscellaneous Receipt Accounts

DR CR TC

Budgetary Entry

None 

 

Proprietary Entry

575600 Nonexpenditure Financing Sources - Transfers In - Capital Transfers

577500 Nonbudgetary Financing Sources Transferred In

 599300 Offset to Non-Entity Collections – Statement of Changes in Net 

 Position

 30 

 4,050 

 

 

 4,080 

 

 

 

 F336
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 147 of 186

September 2016

DR CR TC

Budgetary Entry

None 

 

Proprietary Entry

331000 Cumulative Results of Operations

 599400 Offset to Non-Entity Accrued Collections – Statement of Changes in

 Net Position

 50 

 50 

 

 

 F336

 

Year 2

Post-Closing Trial Balance

Program Fund Financing Fund

Debit/(Credit) Debit/(Credit)

Accounts

Budgetary

419000 Transfers - Prior-Year Balances 977

420100 Total Actual Resources - Collected 1,415 23

465000 Allotments - Expired Authority (1.415)

480100 Undelivered Orders - Obligations, Unpaid (1,000)

Total 0 0
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 148 of 186

September 2016

 Post-Closing Trial Balance (Continued)

Program Fund Financing Fund Miscellaneous Receipt

Debit/(Credit) Debit/(Credit) Debit/(Credit)

Accounts

Proprietary

101000 Fund Balance With Treasury 1,415 23

131000 Accounts Receivable 20 50

134100 Interest Receivable-Loans 2,285

135000 Loans Receivable 38,450

139900 Allowance for Subsidy (7,655)

217000 Subsidy Payable to the Financing Account (20)

218000 Loan Guarantee Liability (11,276)

251000 Principal Payable to the Bureau of the Fiscal 

Service

 

 (21,797)

298500 Liability for Non-Entity Assets Not Reported on 

the Statement of Custodial Activity

 

 (50)

299900 Other Liabilities Without Related Budgetary 

Obligations

 

 (50)

310000 Unexpended Appropriations - Cumulative (1,415)

331000 Cumulative Results of Operations 20

Total 0 0 0
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 149 of 186

September 2016

Post-Closing Trial Balance (Financing Fund Only)

 Debit Credit

Loan Guarantee Level

Memorandum Accounts

801000 Guaranteed Loan Level 189,000

804000 Guaranteed Loan Level - Used Authority (169,000)

804500 Guaranteed Loan Level - Unused Authority (20,000)

Total 0 0

Loans Disbursed

Memorandum Accounts

805000 Guaranteed Loan Principal Outstanding 90,875 

807000 Guaranteed Loan Cumulative Disbursements by Lenders (90,875)

Total 0 0

Loan Guarantee Agency
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 150 of 186

September 2016

 September 30, FY-2

 BALANCE SHEET

Program 

Fund

Elim Financing 

Fund

Misc. 

Receipt

Total

Assets:

Intragovernmental

1. Fund Balance with Treasury (101000E) 1,415 23 1,438

3. Accounts Receivable (131000E) (70) 20

6. Total Intragovernmental (calc.) 1,415 (70) 43 50 1,438

11. Direct Loan and Loan Guarantees, Net (134100E, 135000E, 

139900E)

 33,080 33,080

15. Total Assets (calc.) 1,415 (70) 33,123 50 34,518

Liabilities:

17. Accounts Payable (2170000E) 20 (70) 50 50 50

18. Debt (251000) 11,276 11,276

20. Total Intragovernmental 20 (70) 11,326 50 11,326

22. Loan Guarantee Liability (218000E) 21,797 21,797

BALANCE SHEET
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 151 of 186

September 2016

28. Total Liabilities (calc.) 20 -70 33,123 33,123

Net Position:

31. Unexpended Appropriations – All Other Funds (310100E, 

310700E)

1,415 1,415

33. Cumulative Results of Operations - All Other Funds (531200E, 

570000E, 579100E, 610000E, 634000E, 680000E, 729000E)

 

 (20)

(20)

35. Total Net Position – All Other Funds (calc.)

36. Total Net Position (calc.) 1,395 1,395

37. Total Liabilities and Net Position (calc.) 1,415 -70 33,123 50 34,518
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 152 of 186

September 2016

Loan Guarantee Agency

for Fiscal Year Ended September 30, FY-2

STATEMENT OF NET COST

Program 

Fund

Financing 

Fund

Total

Gross Program Costs:

1. Gross costs (610000E, 631000E, 634000E, 680000E) 6,402 701 7,103

2. Less: Earned Revenues (531200E, 531300E, 719000E) 30 701 731

3. Net program costs (calc. 1-2) 6,372 6,372

8. Net cost of operations (calc. 5+6-7) 6,372 6,372
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 153 of 186

September 2016

 Loan Guarantee Agency

for Fiscal Year Ended September 30, FY-2

STATEMENT OF CHANGES IN NET POSITION

Program Fund Financing Fund Misc. Recipt Total

Cumulative 

Results of 

Operations

Unexpende

d 

Appropriati

ons

Cumulative 

Results of 

Operations

Unexpende

d 

Appropriati

ons

Cumulative 

Results of 

Operations

Unexpended 

Appropriatio

ns

Cumulative 

Results of 

Operations

Unexpended 

Appropriatio

ns

Cumulative Results of Operations:

Beginning Balances

1. Cumulative Results of Operations 

(331000B)

(23) 1,845 (23) 1,845

3. Beginning Balances, as Adjusted (23) 1,845 (23) 1,845

Budgetary Financing Sources:

5. Appropriations Used (570000E) 10,455 10,455

8. Transfers-In/Out Without Reimbursement 

(576600E) 

(30) (30)

Other Financing Sources (Non 

Exchange):

11. Transfers In/Out w/out Reimbursement 

(575600E, 577500E, 577600E)

(4,050) 4,080 30
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 154 of 186

September 2016

STATEMENT OF CHANGES IN NET POSITION

13. Other (579100E, 599300E) (4,080) (4,080) (4,080)

14. Total Financing Sources 6,375 6,375

15. Net Cost of Operations (+/-) 6,372 6,372

16. Net Change (calc. 14-15) (20) (20)

17. Cumulative Results of Operations 

(calc. 3+16)

Unexpended Appropriations:

Budgetary Financing Sources:

21. Appropriations Received (310100E) 10,025 10,025

24. Appropriations Used (310700E) (10,455)

STATEMENT OF CHANGES IN NET POSITION
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 155 of 186

September 2016

25. Total Budgetary Financing Sources 

(calc. 21..24)

(430) (430) 

26. Total Unexpended Appropriations 

(calc. 20 + 25)

(430) (430) 

27. Net Position (calc. 17 + 26) (20) (20) 1415

 

Loan Guarantee Agency

For Fiscal Year Ended September 30, FY-2
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 156 of 186

September 2016

STATEMENT OF BUDGETARY RESOURCES

Budgetary Non-Budgetary 

Financing 

Account

Total

Budgetary Resources:

1000 Unobligated balance brought forward ((420100B, 422100B, 480100B) 1,200 16,800 18,000

1021 Recoveries of prior year unpaid obligations (487100E) 215 215

1290 Appropriations (discretionary and mandatory) (411700E, 4118000E) 10,025 10,025

1490 Borrowing authority (discretionary and mandatory) (414100E, 414200E, 

414300E)

22,774 22,774

1890 Spending authority from offsetting collections (discretionary and 

mandatory) (415100E, 426100E, 4271E, 427300E, 422100E)

988 988

1910 Total budgetary resources

$11,440 $40,562 $52,002

Status of Budgetary Resources:

2190 Obligations incurred- Direct (480100E-B, 490200B) 10,025 40,562 50,587

 STATEMENT OF BUDGETARY RESOURCES
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 157 of 186

September 2016

Unobligated balance, end of year:

2413 Expired unobligated balance, end of year (465000E, 445000E) 1,415 1,415

2500 Total budgetary resources $11,440 $40,562 $52,002

Change in obligated balance

3000 Unpaid obligations, brought forward, Oct 1 (480100B) 645 645

3012 New obligations and upward adjustments 10,025 40,562 50,587

3020 Outlays (gross) (-) (10,455) (39,562) (50,017)

3042 Recoveries of prior year unpaid obligations (-) 215 215

3072 Change in uncollected pymts, Fed sources (+ or-) 645 645

3200 Obligated balance, end of year (+ or -) 1,000 1,000

Budget authority and outlays, net: 

4175 Budget authority, gross (discretionary and mandatory) 10,025 23,762 33,787

4177 Change in uncollected pymts, Fed sources (discretionary and mandatory) (+ or -) (1,663) (1,663)

4178 Recoveries of prior year paid obligations (discretionary and mandatory) 645 645
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 158 of 186

September 2016

STATEMENT OF BUDGETARY RESOURCES

4180 Budget authority, net (total) (discretionary and mandatory) 10,025 22,744 32,769

4185 Outlays, gross (discretionary and mandatory) 10,455 39,562 50,017

4187 Actual offsetting collections (discretionary and mandatory) (-) (1.663) (1,663)

4190 Outlays, net (total) (discretionary and mandatory) 10,455 37,899 48,354

4200 Distributed offsetting receipts (-) (4,030) (4,030)

4210 Agency outlays, net (discretionary and mandatory) 6,425 37,899 44,324
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 159 of 186

September 2016

Loan Guarantee Agency

 for Fiscal Year Ended September 30, FY-2

FUND BALANCE WITH TREASURY FOOTNOTE

Program 

Fund

Financing 

Fund

Total

A. Fund Balance

3. Revolving Funds 23 23

4. General Funds 1.415 1,415

 Total 1,415 23 1,438

B. Status of Fund Balance

1. Unobligated Balances

 (a) Available (461000E) 

 (b) Unavailable (445000E, 465000E) 1,415

2. Obligated Balances not yet disbursed

 (a) Unpaid Obligations (480100E) 1,000 1,000

 (b) Borrowing authority not converted to cash (414900E) (977) (977)

 Total 1,415 23 1,438
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IN FEDERAL CREDIT PROGRAM

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Loan Guarantee Agency

September 30, FY-2

Note 8: Credit Program Note

I. Defaulted Guaranteed Loans from Post – 1991 Guarantees:

 Defaulted Loans Receivable, Gross (135000E) 38,450

 Interest receivable (134100E) 2,285

 Less Allowance for Subsidy Cost (139900E) (7,655)

 Value of Assets Related to Defaulted Guaranteed Loan Receivables, Net $33,080

J. Guaranteed Loans Outstanding:

J1. Guaranteed Loans Outstanding:

 Outstanding Principle of Guaranteed Loans, Face Value (805000E) $90,875

 Amount of Outstanding Principle Guaranteed (805000* gtd %)

53 $69,700

J2. New Guaranteed Loans Disbursed(current reporting year):

 Principle of Guaranteed Loans, Face Value (805300) $62,000

 Amount of Principle Guaranteed (805300 * gtd %)

54 $46,600

K. Liability for Loan Guarantees:

K1. Liability for Loan Guarantees

(Present Value Method for Pre-1992 Guarantees): 

 $11,276

 53Cohort 1 – 30,875 x 80% = 24,700 Cohort 2 – 60,000 x 75% = 45,000

54Cohort 1 – 2,000 x 80% = 1,600 Cohort 2 – 60,000 x 75% = 45,000
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 Liabilities for Post -1991 Guarantees, Present Value (218000)

Note 8: Credit Program Note

L Subsidy Expense for Loan Guarantees by Program and Component:

L1. Subsidy Expense for New Loan Guarantees (current reporting 

year)

Interest Supplements 40

Defaults 2,476

Fees and Other Collections (5,086)

Total (2,570)

L2. Modifications and Reestimates (current reporting year):

Total Modifications (1,000)

Technical Reestimates (680000, 610000) (28)

Total Re-estimates (1,028)

L3. Total Loan Guarantee Subsidy Expense 

(equals 610000 + 680000 for subsidy & modification) (3,598)

M. Subsidy Rates for Loan Guarantees by Program and Component:

Budget Subsidy Rates for Loan Guarantees for the Current Year’s Cohorts: Percent

Defaults 3.46

Fees and Other Collections (8.46)

Total (5.00)

N. Schedule for Reconciling Loan Guarantee Liability Balances (Post-1991 

Loan Guarantees):

Beginning balance of the loan guarantee liability, October 1 $ 18,965
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Add: subsidy expense for guaranteed loans 

disbursed during the reporting years by component:

a. Interest supplement costs 40

b. Default costs (net of recoveries) 2,476

c. Fees and other collections (5,086)

Total of the above subsidy expense components (2,570)

Adjustments:

 a. Loan guarantee modifications (1,000)

 b. Fees received (426100) 800

 c. Interest supplements used

 d. Foreclosed property and loans acquired 30,000

 e. Claim payment to lenders (490200) (35,000)

 f. Interest accumulation on liability balance (634000) 139

 g. Other (modification adjustment transfer (30)

Ending balance of the loan guarantee liability before reestimates 11,304

Add or subtract subsidy reestimates by component:

b. Technical/default reestimate (28)

Total of the above reestimate components (28)

Ending balance of the loan guarantee liability (218000) $11,276

O. Administrative Expense

Loan guarantee programs (610000) $10,000

 
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SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING55

Program Fund Financing Fund

SF133 

Line

Sch P 

Line

SF133 

Line

Sch P 

Line

BUDGETARY RESOURCES

All accounts:

0900 Total new obligations (490200E) 10,025 40,562

Unobligated balance:

1000 Unobligated balance brought forward, October 1 (445000E, 461000E) 16,800 16,800

Budget Authority:

Appropriations:

Discretionary:

1100 Appropriation Discretionary (411700E) 10,000 10,000

1160 Appropriation – Discretionary (total) 10,000 10,000

 55For the program fund only the unexpired fund is reported on lines 0700 to 1941
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Mandatory:

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING

1200 Appropriation (412500E) 25 25 10 10

1260 Appropriation – Mandatory (total) 25 25 10 10

Mandatory:

Borrowing Authority:

1400 Borrowing Authority (414100E, 414300E) 31,912 31,912

1422 Borrowing applied to repay debt (-) (414200E) (9,138) (9,138)

1440 Borrowing authority, mandatory (total) 22,774 22,774

Spending Authority from Offsetting Collections:

Mandatory:

1800 Collected (426100E, 427100E, 427300E) 1,663 1,663

1801 Change in uncollected payments, Federal sources (+ or -) (422100E) (645) (645)

1850 Spending authority from offsetting collections, mandatory 

 (total) 988 988

1900 Budget Authority (total) 10,025 10,025 23,762 23,762

1930 Total budgetary resources available 10,025 40,562

Memorandum (non-add) entries:
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Unobligated Balance

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING

1940 Unobligated balance expiring (-)

1941 Unexpired unobligated balance, end of year -

CHANGE IN OBLIGATED BALANCE

Unpaid obligations:

3000 Unpaid obligations, brought forward, Oct 1 (422100E) 645

3010 New Obligations, unexpired accounts (480100E, 490200E) 10,025 10,025 40,562 40,562

3020 Outlays (gross) (-) (490200E) (10,455) (10,455) (39,562) (39,562)

3041 Recoveries of prior year unpaid obligations, expired accounts (-)

(487100E)

 215 215

3050 Unpaid obligations, end of year (480100E) 1,000 1,000

3060 Uncollected pymts, Fed sources, brought forward, Oct 1 (-) (422100E) (645) (645)

3070 Change in uncollected pymts, Fed sources, unexpired accounts (+ or -)

(422100E) 

(645) (645)

3090 Uncollected pymts, Fed sources, end of year (-)

Memorandum (non-add) entries:

3100 Obligated balance, start of year (+ or -)

3200 Obligated balance, end of year (+ or -) (480100E) 645 645
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BUDGET AUTHORITY AND OUTLAYS, NET

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING

Discretionary:

Gross budget authority and outlays:

4000 Budget authority, gross 10,000 10,000

4010 Outlays from new discretionary authority 10,000 10,000

4011 Outlays from discretionary balances 430 430

4020 Outlays, gross (total) 10,430 10,430

4070 Budget authority, net (discretionary) 10,000 10,000

4080 Outlays, net (discretionary) 10,430 10,430

Mandatory:

Gross budget authority and outlays:

4090 Budget authority, gross (This line is calculated. Equals the sum of 

mandatory budget authority [Lines 1200 through 1252, 1270 through 1273, 

1400 through 1430, 1600 through 1631, and 1800 through 1842 (SF 133). 

Lines 1200 through 1239, 1270 through 1273, 1400 through 1420, 1600 

through 1622, and 1800 through 1827 (Sch P)].)

25 25 23,762 23,762
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4100 Outlays from new mandatory authority56 (490200E) 25 25

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING

4110 Total outlays, gross (490200E) 25 25 39,562 39,562

4120 Federal sources (-) (427100E) (455) (455)

4122 Interest on uninvested funds (-) (427300E) (408) (408)

4123 Non-Federal sources (-) (426100E) (800) (800)

4130 Offsets against gross budget authority and outlays (total) (-) (1,663) (1,663)

4140 Change in uncollected pymts, Fed sources, unexpired accounts(+/-)

(422100E)

645 645

4150 Additional offsets against budget authority only (total) (645) (645)

4160 Budget authority, net (mandatory) (This line is calculated. Equals the 

total new budget authority (gross) on line 4090 plus the amounts on lines 

4120 through 4124 and on lines 4140, 4141 and 4143 (SF 133). Line 4090 

plus the amounts on lines 4120 through 4124 and on lines 4140 and 4142 

(Sch P).)

22,744 22,744

4170 Outlays, net (mandatory) (This line is calculated. Equals line 4110 

plus the amounts on lines 4120 through 4124.)

 37,899 37,899

4180 Budget authority, net (discretionary and mandatory) (This line is 10,025 10,025 22,744 22,744

 56Financing funds are not required to breakdown outlays by New and Balance authority
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calculated. Equals sum of lines 4070 and 4160.)

4190 Outlays, net (discretionary and mandatory) (This line is calculated. 

Equals sum of lines 4080 and 4170.)

10,455 10,455 37,899 37,899

FISCAL YEAR 3

This fiscal year will only deal with the liquidating of the downward re-estimates and repayment of debt. All other items have been 

addressed in previous fiscal years. No financial statements or footnotes will be prepared for this fiscal year.

OMB approved the downward re-estimate of $50 on cohort 2. Since there is no carry forward authority, the cohort will need to 

borrow to pay the downward re-estimate. The loan on cohort 1 is expected to repay $10,000. 

Loan Guarantee Agency

 Fiscal Year 3

 SF 132 Apportionment/Reapportionment Schedule

BUDGETARY RESOURCES Financing 

Fund

Budget authority:

Unobligated balance:

1000 Unobligated balance brought forward, Oct 1 -

Borrowing authority, mandatory:

1400 Borrowing authority (414100) 50

Spending authority from offsetting collections, 

mandatory:
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1840 Anticipated Collections, Reimbursements, and Other Income 1,000

1842 Anticipated Redemption of Debt (2,000)

1920 Total Budgetary Resources 8,050 

SF 132 Apportionment/Reapportionment Schedule

APPLICATION OF BUDGETARY RESOURCES

Category B (by project)

6012 Payment to Receipt Account 50

6013 Treasury Interest 340

6182 Unapportioned Balance 7,660

6190 Total Budgetary Resources Available 80,050

3-1 Agency receives approved SF132 reflecting downward re-estimate amounts. Along with the budgetary authority, the agency 

allots, obligates and pays the downward re-estimate to the miscellaneous receipt account.

Financing Fund – Cohort 2

To record borrowing authority and obligate (See previous entries for apportionment and allotment entries)

DR CR TC

Budgetary Entry

414100 Current Year Borrowing Authority Realized

 480100 Undelivered Orders - Obligations, Unpaid

50

 50 N/A
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Proprietary Entry

None

See year 2 for borrowing entries as they are the same no matter what the agency is borrowing for.

Financing Fund – Cohort 2

To pay downward re-estimate

DR CR TC

Budgetary Entry

480100 Undelivered Orders – Obligations, Unpaid

 490200 Delivered Orders- Obligations, Paid

Proprietary Entry

299000 Other Liabilities Without Related Budgetary Obligations

 101000 Fund Balance With Treasury

50

50

 50

 50

 A146

 A141

Program Fund

DR CR TC

Budgetary Entry

None

Proprietary Entry

680000 Future Funded Expenses 50

 

 
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 619900 Adjustment to Subsidy Expense 50 D113

Miscellaneous Receipt

DR CR TC

Budgetary Entry

None

Proprietary Entry

101000 Fund Balance With Treasury

 131000 Accounts Receivable

599400 Offset to Non-Entity Accrued Collections – Statement of Changes in Net 

 Position 

 599300 Offset to Non-Entity Collections – Statement of Changes in Net 

 Position

 50

 

 50

 

 50 

 

 50 

 

 

 A195

 

 D585R
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3-2 Agency receives SF132 showing anticipated repayments of debt. Note: SF132 is not required to show repayments of debt, but A11 suggests including if known.

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

445000 Unapportioned Authority

 404700 Anticipated Transfers to the General Fund of the Treasury- Current 

 Year Authority

Proprietary Entry

None

 2,000

 

 2,000 

 

 A142

 

 

See year 1 for anticipated collections and actual collection entries and year 2 for interest payments on debt.
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3-3 At year end agency determines that it has excess cash of $1,000. This amount will not be needed for future defaults and the 

agency repays treasury debt.

Financing Fund – Cohort 1

DR CR TC

Budgetary Entry

404700 Anticipated Transfers to the General Fund of the Treasury – Current 

 Year Authority

 414600 Actual Repayments of Debt, Current -Year Authority

Proprietary Entry

251000 Principal Payable to the Bureau of the Fiscal Service

 101000 Fund Balance With Treasury

 1,000

 1,000 

 

 1,000 

 

 1,000 

 

 B120

 

 
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APPENDIX 1: 

ACCOUNTING FOR MANDATORY LOAN GUARANTEE PROGRAMS

INTRODUCTION

The scenarios presented in this guide were for common transactions undertaken by a discretionary loan guarantee program. This 

appendix discusses two key differences between discretionary and mandatory loan guarantee programs, and shows how the entries in 

the guide would differ for a mandatory program with typical funding characteristics.

BASIC DIFFERENCES BETWEEN DISCRETIONARY AND MANDATORY PROGRAMS

In a discretionary program, Congress sets a funding level, and program agencies make loans up to the amount that can be supported 

from subsidy in their program fund. Usually, annual or multi-year appropriations provide program fund subsidy, although Congress 

can give no-year (permanent indefinite) appropriations should it choose to do so. 

Annual appropriation authority expires at the end of the fiscal year that it funds, and multi-year appropriations expire at the end of the 

last year of their period of availability. For example, appropriations good for three years expire at the end of the third year funded. 

Agencies cannot place any new obligations against expired authority, generally, they have five years after the date of expiration to fill 
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obligations and pay liabilities before both the obligated and unobligated authority is canceled and cannot be used for any purposes. 

Congress sometimes provides for different periods of expiration.57

The government also operates mandatory (entitlement) loan guarantee programs, in which Congress usually authorizes permanent 

indefinite appropriations for subsidy. If the amount of subsidy requested by qualified loan applicants, who meet the program criteria 

established by Congress, exceeds the subsidy monies by drawing additional appropriations. Congress may mandate that the agency 

concur with the additional funding or may place a cap on the total funding. These no-year appropriations do not have a date of 

expiration, and agencies may use unobligated subsidy appropriation authority as long funded as the programs remain authorized by the 

Congress.

Congress may provide appropriations for administrative expenses that have annual, multi-year, or no-year expiration. Most 

commonly, both discretionary and mandatory loan guarantee programs have annual administrative expense appropriations. Thus, no 

differences in accounting for administrative expenses will be presented. However, multi-year administrative expense appropriations 

in other than the last year covered, and no-year administrative expense appropriations, would be accounted for in the same manner as 

will be shown for no-year appropriations of subsidy authority.

Another difference between discretionary and mandatory loan guarantee programs is that when downward adjustments to subsidy are 

called for during the subsidy re-estimation process to properly value loan guarantees at the estimated value of their cash-flows, 

discretionary programs must generally return the excess money in their financing fund to Treasury by transferring it to a designated 

 57The legislation providing for this is Public Law 101-510, a separate part of the Defense Appropriation Act of 1990, applying more broadly to most Federal 

agencies. The USSGL Board has published a document entitled Budgetary Accounting in the Federal Government that is available through its Web site at 

www.fiscal.treasury.gov/fsreports/ref/ussgl/ussgl/ussgl_htm
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miscellaneous receipt account. Mandatory programs generally may recycle this excess by transferring it back to their program 

account. While these are the typical situations, Congress may also provide do the following:

• Provide for recycling of downward reestimates for a discretionary program; or

• Provide that agencies cannot recycle downward re-estimates in a mandatory program and must return them to Treasury. 

Recording and reporting downward reestimates of subsidy for both a discretionary and a mandatory program is discussed in Appendix 

2 (recall that the agency in the guide illustrated accrual and disposition of an upward adjustment).

Both discretionary and mandatory loan guarantee programs generally have the same transactions. Agencies must formulate budgetary 

resources, apportioned by OMB, and allot and account for them as follows:

• Making loans based on a combination of program fund subsidy and financing fund borrowing from Treasury; 

• Making collections from Federal and non-Federal sources and using the collections to repay the principal and interest on the 

loan from Treasury;

• Reestimating to determine the present value of the loans and interest receivable and adjusting the accounts as required; 

• Closing the books at yearend; and so forth. 

Where there are differences in the type of subsidy appropriations provided and disposition of downward re-estimates, the journal 

entries to record the same transaction usually will differ as well. The next section discusses those differences.
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DIFFERENCES IN JOURNAL ENTRIES

FOR MANDATORY PROGRAMS

The transactions illustrated for the discretionary loan guarantee program guide are virtually the same as those are undertaken in a 

mandatory program. However, four of the journal entries would be different. The transactions involved, and the budgetary and 

proprietary entries a mandatory program with no-year subsidy authority, but with the same amount of funding and other parameters as 

the discretionary program, would make are set forth below.

58 Note that only certain entries in fiscal year 1 are affected. There would 

be no change from the discretionary program entries in fiscal year 2.

Changes from entries illustrated for the discretionary program are highlighted in bold type. For each transaction presented, only the 

fund entities (including memorandum accounts) for which there is a change are presented. If a fund entity (including memorandum 

accounts) present for a transaction in the discretionary program guide is not present in the transactions illustrated below, a mandatory 

program would make the same entries for those fund entities. A discussion of changes follows the revised entries for each transaction. 

 58It is important to note these assumptions, because they form the basis for changes to be discussed. It is possible that variations, even within the assumptions, 

could exist and that entries could differ still further. For example, OMB might decide on a lesser amount of subsidy funding than the agency anticipated in its 

request and if needed, increase the amount later (see transactions 1-1 and 1-2). The more specific assumption in this appendix is that the nature of transactions

and amounts between the discretionary and mandatory programs is the same.
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1-1. The agency prepares the budget formulation.

Program Fund

DR CR TC

Budgetary Entry

412000 Anticipated Indefinite Appropriations

411700 Loan Administrative Expense Appropriation

 445000 Unapportioned Authority

Proprietary Entry

101000 Fund Balance With Treasury

 310100 Unexpended Appropriations - Received

 21,500

 5,000

 5,000

 

 26,500 

 5,000 

 

 A102

 

 A104

Explanation of difference

Because the program fund has permanent indefinite authority for its subsidy, agencies must anticipate the amount of the 

appropriations they will receive in order to prepare the budget formulation. The agency normally will not realize the appropriations 

until OMB has approved the amount. Accordingly, the agency must make two changes in the program fund entry. First, it uses the 

account for anticipated appropriations, 412000, instead of the account for realized subsidy appropriations, 411500. Second, because 

the subsidy money is not realized at this point, it records only the amount of the administrative expense appropriation, which is an 

annual appropriation, as the amount of Fund Balance With Treasury. Note that there is no change for the financing fund or 

memorandum account entries.
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1-2. OMB approved the agency’s requests for apportionment without change, and the agency recorded the apportionment.

Program Fund

DR CR TC

Budgetary Entry

411500 Loan subsidy Appropriation

 412000 Anticipated Indefinite Appropriations

445000 Unapportioned Authority

 451000 Apportionments

Proprietary Entry

101000 Fund Balance With Treasury

 310100 Unexpended Appropriations - Received

 21,500

 26,000

 21,500

 21,500

 

 26,500

 21,500 

 

 A104

 

 A116

Explanation of Difference

There are two differences here. First, because the subsidy appropriation was anticipated and not realized until OMB concurred with 

the amount, the agency makes an entry to realize the appropriation. Second, along with the realization, the agency must record the 

related Fund Balance With Treasury. Note that the combination of entries 1-1 and 1-2 yields the same account balances for both the 

discretionary and mandatory programs.
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1-12. After consultation and agreement with OMB, the agency decided to exercise a clause in the program’s legislation allowing it to 

modify the terms of some of the guarantees because of economic downtrends. This reduced the present value of those guarantees by 

$1,000.59 The agency transferred the $1,000 from the program fund to the financing fund.

Explanation of Difference

Here the basic transaction is the same–the agency is making modifications to loan guarantee terms that cost the government $1,000. 

However, some of the related procedures are different. In the discretionary program, the agency had to reduce the loan guarantee 

level. This was because the subsidy appropriation was annual, so the agency had to use subsidy to modify loan guarantees and could 

not use the subsidy to making new guarantees (recall that an agency can only make the amount of loan guarantees that its subsidy 

monies can support). 

In a mandatory program in which an agency can draw additional monies, with OMB approval, from a permanent indefinite 

appropriation, there is no need to reduce the program level. The agency can recover the $1,000 subsidy by drawing an additional 

$1,000 from the appropriation subsidy. This is not illustrated because, we know from the discretionary program guide, the agency did 

not use the full amount of subsidy, even reduced by the $1,000 used for modifications, to make loans. However, the agency would not 

make the entry to reduce the loan level, unless OMB directed the agency to reduce it.

 59 Before making the modifications, the agency must be certain that it has sufficient unobligated resources for subsidy in the program fund. In this guide, the amount of unobligated

resources, as represented by allotments related to the subsidy, amounted to $2,150 ($21,500 from transaction 1-3 less $19,350 from transaction 1-5).
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TRIAL BALANCES AND FINANCIAL STATEMENTS

Pre- and post-closing trial balances, financial statements, and the quantitative portion of the credit program note for the mandatory 

program would be the same as for the discretionary program for both fiscal years, with the exception that the guaranteed loan level 

probably would remain at $100,000 instead of having been reduced to $95,349. The pre-closing trial balance of memorandum 

accounts for the loan guarantee level would thus be:

 Pre-Closing Adjusted Trial Balance (Financing Fund Only)

Total

Debit/(Credit)

Loan Guarantee Level

Memorandum Accounts

801000 Guaranteed Loan Level 100,000

801500 Guaranteed Loan Level - Unapportioned 0

802000 Guaranteed Loan Level - Apportioned (10,000)

804000 Guaranteed Loan Level - Used Authority (90,000)

804500 Guaranteed Loan Level - Unused Authority 0

Total 0
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1-19 The agency made the following closing entries.

Memorandum Accounts - Loan Guarantee Level

DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Memorandum Entry

802000 Guaranteed Loan Level – Apportioned

 804500 Guaranteed Loan Level - Unused Authority

 

 10,000

 

 

 10,000 

 

 

 

 F346
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 Pre-Closing Adjusted Trial Balance (Financing Fund Only)

Total

Debit/(Credit)

Loan Guarantee Level

Memorandum Accounts

801000 Guaranteed Loan Level 100,000

801500 Guaranteed Loan Level - Unapportioned 0

802000 Guaranteed Loan Level - Apportioned 0

804000 Guaranteed Loan Level - Used Authority (90,000)

804500 Guaranteed Loan Level - Unused Authority (10,000)

Total 0

Narrative descriptions about funding and loan levels authorized would be different, but are not illustrated for either program. (The 

narrative about program level and nature of subsidy funding would be different, because the program loan level was reduced in the 

discretionary program but not in the mandatory program, and the subsidy appropriation in the mandatory program was no-year 

authority, as opposed to annual authority in the discretionary case.)
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FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

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APPENDIX 2: REFERENCES

This appendix lists some key references and Web sites for readers who want to obtain additional information.

OFFICE OF MANAGEMENT AND BUDGET

 OMB Bulletin 01-09, Form and Content of Agency Financial Statements for Audit

 OMB Circular A-11, Preparation, Submission, and Execution of the Budget

 OMB Circular A-136, Financial Reporting Requirements- Revised

 OMB Credit Model

 Office of Federal Financial Management (202) 395-3993

 Web site: www.whitehouse.gov/omb 
FINAL DRAFT GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 185 of 186

September 2016

FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD

Statement of Federal Financial Accounting Standards (SFFAS) 

 SFFAS No. 1, Selected Assets and Liabilities

 SFFAS No. 2, Accounting for Direct Loans and Loan Guarantees

 SFFAS No. 3, Inventory and Related Property

 SFFAS No. 7, Accounting for Revenue and Other Financing Sources and concepts for Reconciling Budgetary Financial 

Accounting

 SFFAS No. 18, Amendments to Accounting Standards for Direct Loans and Loan Guarantees

 SFFAS No. 19, Technical Amendments to Accounting Standards for Direct Loans and Loan Guarantees in SFFAS No. 2

 Statement of Federal Financial Accounting Concepts No. 2, Entity and Display (as amended by SFFAS No. 7)

Accounting and Auditing Policy Committee, Technical Release No. 3: Preparing and Auditing Direct Loan and Loan Guarantee 

Subsidies Under the Federal Credit Reform Act

 FASAB Staff at (202) 512-7350

 Web site: www.fasab.gov
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FOR LOAN GUARANTEE PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

Page 186 of 186

September 2016

 Bureau of the Fiscal Service U.S. Standard General Ledger (codified in Treasury Financial Manual)

 Budgetary Accounting in the Federal Government

 Illustrative Cases in Accounting for Credit Programs (USSGL Advisory Division)

 Present Value Monograph

 USSGL Advisory Division (Bureau of the Fiscal Service, Treasury) 

 OMB Circular No. A-11, (July 2016 ) Section 185.20, Capital transfer, including transfers of unobligated balances in 

liquidating accounts to the general fund (i.e., liquidating account sweeps), and redemption of debt are not obligations and 

therefore do not need to be apportioned on lines 6001-6173.

 OMB Circular No. A-11, July 2016) Section 185.19, for financing and liquidating accounts, additional amounts for interest 

 payments to Treasury (i.e., amounts exceeding your estimate on the most recent approved apportionment) are automatically 

 apportioned.

 The permutations to credit reform accounting for loan guarantees are endless. In future iterations of the case study, additional 

years and transactions could be added to build upon what is presented here.