Treasury UpdatesGovernmentwide AccountingCentral Accounting Reporting System (CARS) May 22, 2014

March 7, 201

*

Central Accounting Reporting System (CARS)
        - Benefits for Agencies
        - Benefits Across Government
        - Transition status
        - Upcoming training opportunities

4 CARS topics to cover today

*

Benefits for Agencies to Become CARS (TAS BETC) Reporters
        - Daily Account Statement
        - More Transaction-level details in Account Statement
        - Daily reclassification functionality
        - Elimination of the Statement of Difference

Daily Account Statement - Agencies will be able to see the transaction's impact on FBWT the very next day, instead of the end of the month, which can allow for timelier FBWT reconciliation.   For Non-CARS Reporters, there’s a short 3-day window in which an Agency can see their prior month’s FBWT to reconcile against their own records and submit any reclassifications or corrections.  However, as a CARS Reporter, an Agency can see this information throughout the month, resulting in a less arduous month-end process. 

More transaction-level details in Account Statement - Agencies will be able to see additional data elements in the Account Statement that are not available as Non-CARS (224) Reporters.  This will eliminate the need for them to separately log into IPAC, Secure Payment System (SPS), and Collection Information Repository (CIR) to see data elements that would assist in recociliation 

Daily Reclassification – Once an ALC is a Full CARS Reporter, they can reclassify any time of the month and see its impact on their FBWT immediately.  They are not limited by the current 3-day reporting window that is imposed on 224-Reporters. 

Elimination of the Statement of Difference – For CARS Reporters, the agency will no longer submit IPAC, TDO Payment, or Collection accountability totals on their 224. Instead we will use accountability totals from those very systems, and hence this eliminates the comparison between 224s and source systems, which is the essence of Statement of Difference (SOD) reports.  Agencies can focus resources on true FBWT reconciliation, which compares Agency books to Treasury books.

*

Governmentwide Benefits of Daily Reporting
        - Supports Governmentwide data transparency
        - Supports Governmentwide standardization
        - Allows streamlining in Treasury processes and reports
        - Improves data for downstream systems/processes

Supports Governmentwide data transparency – TAS BETC reporting connects Appropriation and Receipt information at a lower transaction level, whereas Non-CARS Reporters are summarized/netted on the 224 and cannot be tied to individual source system transactions.  CARS is the end-point in the life cycle of Federal receipts and spending.  Note:  Although TAS BETCs can be obtained/found in some of the source systems (IPAC and SPS), they do not represent the final or official posting/classification.  In the case of Collections, TAS BETCs cannot be obtained from CIR, since CIR will have mostly Classification Keys (C-Keys). 

Supports Governmentwide standardization – Use of component TAS and BETCs forces standardization across the various Treasury systems, as well as within the various vendor and home-grown Agency systems across the Government.  It also encourages discipline and consistency, while exposing weaknesses that can be addressed and improved. 

Allows streamlining in Treasury processes and reports – Eliminating the SOD process allows Treasury to provide more accurate and timely reports of the Government’s financial condition (Daily Account Statement of FBWT, Investment balances, Funds Held Outside Treasury balances), positioning us to be more in line with industry standards of the bank/private sector. 

Improves data for downstream systems/processes – TAS BETC reporting allows CARS to provide more consistent and accurate daily FBWT to GTAS (vs only monthly today).  Also, the lower level that BETCs offers, compared to current STAR Transaction Codes, allows GTAS more opportunities for editing and validating to improve quality of data for financial statements and budgetary reporting.

*

Future Transaction & Reporting

*

NTDO Payments

FR

USSLG TFM Agency F/S

Intragov Reports

TDO Payments

Collections

IPAC

SAM

Account Statement Monthly Treasury Statement

Combined Statement

GFRS

FRB

CIA

Once converted as a DAILY TAS/BETC reporter

Transactions are classified through a source system and sections 2 and 3 of the 224/CTA are closed.  Information is sent to CARS and then to GTAS using the component TAS format.  Agencies can use the data to pass edits and validations in GTAS and prepare required financial reporting documents.  Treasury will use that information to compile the Financial Report of the US government.  Stovepipe systems (like Facts I and Facts II go away).

*

System Changes and Timelines

*
        -  Commissioner Lebryk Reaches Out to Agency CFOs Regarding Modernization Initiatives

January 14, 2011

March 23, 2012

April 11, 2013

April 11, 2014
        -  October 1, 2014 agencies should have a transition plan in place for each ALC by source system or request GWA’s CRM Division to help you develop one 

CARS Reporter (IPAC) conversion

Transition: Self Analysis

Utilize the IPAC Transaction Download Report to compare to what is on your General Ledger (GL)

This report should be downloaded twice a month to verify readiness to GO LIVE the following month

Choose a Go Live date

Go Live!

Omit IPAC transactions from 224/CTA submission

TAS/BETC classification at initiation becomes official post to your FBWT

IF IPAC only, you are a Full Reporter

As a Full Reporter you now have access to reclass on a daily basis

*

This is the lowest level of detail you can retrieve from the Acct Stmt.  

This example shows the additional IPAC details available for a CARS IPAC Reporter.

 A look at some of the “additional IPAC detail” mentioned in the benefits section earlier.

*

CARS Reporter (Collections) conversion

Transition: Data Analysis

Review the data twice/month

Provide excel spreadsheet if corrections/updates to cash flow profiles or source systems are needed

Transition to go live after one month of transitioning

Go Live!

Section 3 of the 224/CTA is CLOSED

Ability to view collection transactions daily

C-Key  to TAS/BETC classification at initiation becomes official post to your FBWT

IF Collections only, you are a Full Reporter

As a Full Reporter you now have access to reclass on a daily basis

*

This example shows the additional Collection details available for a CARS Collection Reporter.

 A look at some of the “additional COLLECTION detail” mentioned in the benefits section earlier.

*

CARS Reporter (Payments) conversion

Transition

Manual end to end testing available (optional)

ALC/CARS/PM determine file/system testing period

Choose a Go Live date

Go Live!

Omit Payment transactions from 224/CTA submission

TAS/BETC classification at initiation becomes official post to your FBWT

IF Payments only, you are a Full Reporter

As a Full Reporter you now have access to reclass on a daily basis

*

This example shows the additional Payment details available for a CARS Payment .

A look at some of the “additional PAYMENT detail” mentioned in the benefits section earlier.

*

*

CARS Transition Status as of May 2014
| Agency Location Code (ALC) Conversion Update: 5/6/2014 |
|--------------------------------------------------------|
|                                                        | CurrentlyConvertedas of 5/1/2014 | Total #ALC Piloting | Planned BeyondFYQ3 2014 | Total # ALC per Transaction | PercentComplete |
| TDO ALC                                                |
| IPAC Reporters                                         | 344 | 111 | 174 | 629 | 55% |
| Payments Reporters                                     | 71 | 164 | 192 | 427 | 17% |
| Collections Reporters                                  | 213 | 94 | 220 | 527 | 40% |
|                                                        |
| Agency Location Code (ALC) Conversion Update: 5/06/2014 |
|---------------------------------------------------------|
|                                                         | CurrentlyConvertedas of 5/1/2014 | Total #ALC Piloting | Planned BeyondFYQ3 2014 | Total # ALC per Transaction | PercentComplete |
| NTDO ALC                                                |
| IPAC Reporters                                          | 1 | 9 | 158 | 168 | 1% |
| Payments Reporters                                      | 0 | 0 | 501 | 501 | 0% |
| Collections Reporters                                   | 0 | 3 | 516 | 519 | 0% |
|                                                         |

Check off your list!

Discuss the changes needed in your agency to convert from monthly reporting to daily reporting

Develop a transition plan  

Should be aware that Section 2 and 3 of the 224 will be closed.  If you are not the 224/CTA preparer, pass the word 

Work with SAM now to get access, set up/update defaults and cash flow profiles

TRANSITION PLANS BY OCTOBER 1, 2014 

*

CARS workshops (Hyattsville, MD)

June 10

GWA Training and Outreach

2014 CARS Sessions – 1st and 2nd Friday every month

Informational Sessions

Weekly

E-Learning Module – Becoming a CARS Reporter

www.fms.treas.gov/cars/training.html

GWA Public Website

www.fms.treas.gov/cars

     Upcoming Outreach

*

Contacts

*
        - Customer Relationship Management Division (CRMD)
        - Director, Carolann Marker (Carolann.Marker@fiscal.treasury.gov) (202)874-9776
        - IPAC – Dominique McCreary (Dominique.McCreary@fiscal.treasury.gov) (202)874-6352
        - TDO Payments – Luz Davila Lopez (Luz.Davila.Lopez@fiscal.treasury.gov)  (202)874-8599
        - Collections - Katy Borys (Katy.Borys@fiscal.treasury.gov) (202)874-9005

	CRM Mailbox –  gwa.crmd.users@fiscal.treasury.gov

Treasury Support Center – (877) 440-9476