Financial Report of the United States Government (FR) Modernization

USSGL IRC Meeting March 1, 2018

1

Agenda

FR Consolidation History/Progress

FR Modernization Mission

System Environment for FR Compilation - Current

System Environment for FR Compilation – Future

Decrease in Agency Reporting Burden

Impact on USSGL TFM Supplement

LEAD ∙ TRANSFORM ∙ DELIVER

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Enhancement to GTAS in FY 2016

GFRS Modules 1-4 are now captured in GTAS

The reclassified statement crosswalks are now used to populate line information for agencies to review (formerly GFRS module 3)

Previously agencies were able to manually enter these amounts in GFRS. GTAS now populates these lines from agencies bulk files (using USSGL Crosswalks). Agencies use manual adjustments column to adjust line items at FR entity level. 

FR Consolidation History/Progress

LEAD ∙ TRANSFORM ∙ DELIVER

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3

Improve the quality and integrity of data used to produce the Financial Report of the U.S. Government (FR), while decreasing agency reporting burden to Treasury in the process

FR Modernization Mission

LEAD ∙ TRANSFORM ∙ DELIVER

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4

System Environment for FR Compilation - Current

Notes:

Multiple agency touchpoints (GTAS/GFRS) 

Three systems (GTAS/GFRS/Cognos)

LEAD ∙ TRANSFORM ∙ DELIVER

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5

System Environment for FR Compilation - Future

Objectives:

Decommission GFRS

Single point of entry for agency users

Modernize certifications for Closing Package approvers

Continue to support traceability between agency audited financial statements and governmentwide statements

LEAD ∙ TRANSFORM ∙ DELIVER

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6

Final Notes (only cover if needed): 

The 1S setup is better for external agency access, making it a good fit for SS.

1S does not have a component that is equivalent to CDM, making it a bad fit for FR publication.  CDM is a client installed application, making it a bad fit for SS.

The crosswalking aspect of creating agency financial statements can be done in either system.

Conceptually, it makes sense to do the data analysis work to crosswalk agency financial statements from GTAS as a conduit to the FR in Cognos as a proof of concept.  If decisions are made that send us down the path of needing external agency access in Cognos, it would make sense to take another look at 1S.  At that point, we will have plenty of 1S experience from the SS project.  Additionally, it would not be a huge stretch to re-create the data hierarchies in 1S from the Cognos proof of concept work.

Decreasing Agency Reporting Burden

Elimination of redundant data entry across multiple systems

Remove need to log into multiple systems

Potential reduction in manual processes

Decrease complexity

LEAD ∙ TRANSFORM ∙ DELIVER

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USSGL TFM Supplement & the FR

USSGL TFM Supplement already plays major role in FR preparation:

Establishes and Maintains Chart of Accounts

Ensures accurate data is flowing to FR via Validations/Edits

Section VI Reclassified Crosswalk used to produce various FR Financial Statements

LEAD ∙ TRANSFORM ∙ DELIVER

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USSGL TFM Supplement Impact

Fiscal Service as part of FR Modernization is looking at the note data captured in Module 6

Agencies already provide much of this information in their bulk file

Crosswalks are being developed to capture this data

Fiscal Service has not determined where this guidance will be contained, but USSGL TFM Supplement is one possible solution

LEAD ∙ TRANSFORM ∙ DELIVER

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9

Reference Handout

Inventory Note Crosswalk Example

LEAD ∙ TRANSFORM ∙ DELIVER

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Fiscal Service has established a project team

Project team will review system and data requirements (including developing Note Crosswalks)

GFRS parallel with replacement process in FY 2018

Replace GFRS in FY 2019

Next Steps

LEAD ∙ TRANSFORM ∙ DELIVER

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