GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 1 of 41 IRC Handout July 16, 2020

Scenario 7 Non-Custodial Statement Collections: Seigniorage

SFFAS No. 7, paragraph 305. “Seigniorage.—Seigniorage is the face value of newly minted coins less the cost of production (which 

includes the cost of metal, manufacturing, and transportation). It results from the sovereign power of the Government to directly create 

money and, although not an inflow of resources from the public, does increase the Government’s net position in the same manner as 

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

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

Beginning Trial Balance

Account Description Debit Credit

Budgetary

420100 Total Actual Resources - Collected 800 -

445000 Unapportioned Authority - 800

Total 800 800

Proprietary

101000 Fund Balance With Treasury 800 -

331000 Cumulative Results of Operations - 800

Total 800 800
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 2 of 41 IRC Handout July 16, 2020

Year 2 1st Quarter

1. To record apportionment and allotment. Apportionment and allotment include $800 of resources from the previous year.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

406000 Anticipated Collection From 

Non-Federal Sources

 445000 Unapportioned Authority

445000 Unapportioned Authority

 451000 Apportionments

445000 Unapportioned Authority

 459000 Apportionments - Anticipated 

 Resources - Programs Subject to

 Apportionment 

451000 Apportionment

 461000 Allotments – Realized 

 Resources

Proprietary Entry

None

1,700

800

1,700

800

1,700

800

1,700

800

A140

A116

A118

A120

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 3 of 41 IRC Handout July 16, 2020

2. To record costs incurred to manufacture coins.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

461000 Allotments – Realized 

Resources

 490200 Delivered Orders – 

 Obligations, Paid

Proprietary Entry

610000 (N) Operating Expenses 

/Program Costs

 101000 (G) Fund Balance With 

 Treasury (RC 40) 

500

500

500

500

B107

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

201000 (F) Liability for Fund 

Balance With Treasury (RC 40)

 198000 Asset For Agency’s 

 Custodial and Non-Entity Liability 

500

500

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 4 of 41 IRC Handout July 16, 2020

3. To record current year undelivered orders without an advance.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

461000 Allotments – Realized 

Resources

 480100 Undelivered Orders – 

 Obligations, Unpaid

Proprietary Entry

None

200

200

B306

Budgetary Entry

None

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 5 of 41 IRC Handout July 16, 2020

4. To record the delivery of goods and services and to accrue a liability.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

480100 Undelivered Orders –

Obligations, Unpaid

 490100 Delivered Orders, 

 Obligations, Unpaid

Proprietary Entry

152500 (N) Inventory – Raw 

Materials

 211000 (N) Accounts Payable 

200

200

200

200

B402

Budgetary Entry

None

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 6 of 41 IRC Handout July 16, 2020

Also Post:

5. To record activity for current-year purchases of inventory and related property.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

None

Proprietary Entry

880300 (N) Purchases of Inventory and 

Related Property 

 880100 (N) Offset for Purchases of 

 Assets

 

200

200

G122

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 7 of 41 IRC Handout July 16, 2020

6. To record a confirmed disbursement schedule previously accrued.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

490100 Delivered Orders, 

Obligations, Unpaid

 490200 Delivered Orders, 

 Obligations, Paid

Proprietary Entry

211000 (N) Accounts Payable 

 101000 (G) Fund Balance With 

 Treasury (RC 40)

200

200

200

200

B110

Budgetary Entry

None

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry 

201000 (F) Liability for Fund 

Balance With Treasury (RC 40)

 198000 Asset For Agency’s 

 Custodial and Non-Entity 

 Liability 

200

200

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 8 of 41 IRC Handout July 16, 2020

7. To record reclassification of cost incurred to capitalized cost for minted coins.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

None

Proprietary Entry

152600 Inventory – Work-In-Process

 661000 Cost Capitalization Offset

500

500 D514

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

None

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 9 of 41 IRC Handout July 16, 2020

8. To record raw materials used to produce coins.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

None

Proprietary Entry

152600 Inventory – Work-In-Process

 152500 Inventory – Raw Materials

200

200

D516

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

None

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 10 of 41 IRC Handout July 16, 2020

9. To record the completion of manufacturing coins. A reclassification of Inventory from Work-In-Process to Inventory Finished Goods is 

recorded. Note: The program agency may make additional cost accounting entries. This GFR guidance only shows a simplified 

entry for manufacturing coins.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

None

Proprietary Entry

152700 Inventory – Finished Goods

 152600 Inventory – Work-In-Process

700

700

D520

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

None

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 11 of 41 IRC Handout July 16, 2020

10. To record payment of $900 from Federal Reserve Bank (FRB). FRB makes a payment for coins manufactured. If the payment is greater 

than the manufacturing cost then by law, the surplus also known as seigniorage is deposited into the GFR account.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

426600 Other Actual Business-Type Collections From 

Non-Federal Sources

 406000 Anticipated Collections From Non- 

 Federal Sources

459000 Apportionments – Anticipated Resources –

Programs Subject to Apportionment

 451000 Apportionments

451000 Apportionments

 461000 Allotments – Realized 

 Resources

Proprietary Entry

650000 (N) Cost of Goods Sold 

 152700 Inventory – Finished Goods

101000 (G) Fund Balance With Treasury (RC 40)

 510000 (N) Revenue From Goods Sold 

700

700

700

700

700

700

700

700

700

700

C109

A122

A120

E408

C109

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With Treasury

 (RC 40)

 579500 (N) Seigniorage 

599300 (G) Offset to Non-Entity 

Collections - Statement of Changes in Net 

Position (RC 44)

 298500 (G) Liability for

 Non-Entity Assets Not

 Reported on The Statement Of 

 Custodial Activity (RC 46) 

200

200

200

200

C145

C147

General Fund of the U.S. Government (099)

Budgetary

None

Proprietary

198000 Asset for Agency’s Custodial and Non-Entity 

Liabilities – General Fund of the U.S. Government 

 201000 (F) Liability for Fund Balance With

 Treasury (RC 40)

700

700

Budgetary

None

Proprietary

198000 Asset for Agency’s Custodial and 

Non-Entity Liabilities – General Fund of 

the U.S. Government 

201000 (F) Liability for Fund Balance 

With Treasury (RC 40)

198000 (F) Asset for Agency’s Custodial 

and Non-Entity Liabilities – General 

Fund of the U.S. Government (RC 46)

 571000 (F) Transfer in of Agency

 Unavailable Custodial and Non-

 Entity Collections (RC 44)

200

200

200

200
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 12 of 41 IRC Handout July 16, 2020

1st Quarter Preclosing Trial Balance

Program Fund GFR Account

Account Description Debit Credit Debit Credit

Budgetary

406000 Anticipated Collections From Non-Federal Sources 1,000 - - -

420100 Total Actual Resources - Collected 800 - - -

426600 Other Actual Business-Type Collections From NonFederal Sources700 - - -

459000 Apportionment – Anticipated Resources – Programs 

Subject to Apportionment

- 1,000 - -

461000 Allotments – Realized Resources - 800 - -

490200 Delivered Orders – Obligations, Paid - 700 - -

Total 2,500 2,500 - -

- - - -

Proprietary

101000 (G) Fund Balance With Treasury 800 - 200 -

298500 (G) Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity

- - - 200

331000 Cumulative Results of Operations - 800 - -

510000 (N) Revenue From Goods Sold - 700 - -

579500 (N) Seigniorage - - - 200

599300 (G) Offset to Non-Entity Collection – Statement of 

Changes in Net Position

- - 200 -

610000 (N) Operating Expenses/Program Costs 500 - - -

650000 (N) Cost of Goods Sold 700 - - -

661000 (N) Cost Capitalization Offset - 500 - -

Total 2,000 2,000 400 400

Memorandum

880100 Offset for Purchases of Assets - 200 - -

880300 Purchases of Inventory and Related Properties 200 - - -

Total 200 200 - -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 13 of 41 IRC Handout July 16, 2020

Financial Statements Quarter 1 Year 2

CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, YEAR 2

Line 

No.

Assets (Note 2)

Intragovernmental

1. Fund Balance With Treasury (101000E) 1,000

3. Accounts Receivable (Note 6) (131000E) -

6. Total intragovernmental 1,000

15. Total assets 1,000

Liabilities (Note 13)

Intragovernmental

19. Other (Notes 15, 16, and 17) (298500E) 200

20. Total intragovernmental 200

28. Total Liabilities 200

Net Position

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) (331000B, 510000E, 579500E, 

599300E, 599400E, 610000E, 6500E, 661000E)

800

35. Total Net Position – All Other Funds 800

36. Total Net Position 800

37. Total liabilities and net position 1,000
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 14 of 41 IRC Handout July 16, 2020

CONSOLIDATED STATEMENT OF NET COST FOR THE YEAR ENDED DECEMBER 31, YEAR 2

Line 

No.

Gross Program Costs (Note 22):

Program A:

1. Gross Costs (610000E, 650000E, 661000E) 700

2. Less: earned revenue (510000E) (700)

3. Net program costs: -

5. Net program costs including Assumption Changes: -

8. Net cost of operations -

STATEMENT OF BUDGETARY RESOURCES FOR THE YEAR ENDED DECEMBER 31, YEAR 2

Line 

No.

Budgetary resources:

1051 Unobligated balance from prior year budget authority, net (discretionary and mandatory) (420100B, 426600E) 1,500

1890 Spending authority from offsetting collections (discretionary and mandatory) (406000E) 1,000

1910 Total budgetary resources 2,500

Status of budgetary resources:

2190 New obligations and upward adjustments (total) (Note 29) (490200E) 700

Unobligated balance, end of year:

2204 Apportioned, unexpired account (459000E, 461000E) 1,800

2412 Unexpired unobligated balance, end of year 1,800

2490 Unobligated balance, end of year (total) 1,800

2500 Total budgetary resources 2,500

Outlays, net:

4190 Outlays, net (total) (discretionary and mandatory) (426600E, 490200E) -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 15 of 41 IRC Handout July 16, 2020

Year 2 4th Quarter Entries

1. To record costs incurred to manufacture coins.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

461000 Allotments – Realized 

Resources

 490200 Delivered Orders, 

 Obligations, Paid

Proprietary Entry

610000 (N) Operating 

Expenses/Program Costs

 101000 (G) Fund Balance With 

 Treasury (RC 40)

700

700

700

700

B107

Budgetary Entry

None

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry 

201000 (F) Liability for Fund 

Balance With Treasury

 (RC 40)

 198000 Asset for Agency’s 

 Custodial and Non-Entity 

 Liability

700

700

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 16 of 41 IRC Handout July 16, 2020

2. To record reclassification of cost incurred to capitalized cost for minted coins.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

152600 (N) Inventory – WorkIn-Process

 661000 (N) Cost Capitalization 

 Offset 

700

700

D514

Budgetary Entry

None

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry 

None

Budgetary Entry

None

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 17 of 41 IRC Handout July 16, 2020

3. To record current year undelivered orders without an advance.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

461000 Allotments – Realized 

Resources

 480100 Undelivered Orders – 

 Obligations, Unpaid

Proprietary Entry

None

100

100

B306

Budgetary Entry

None

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry 

None

Budgetary Entry

None

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 18 of 41 IRC Handout July 16, 2020

4. To record the delivery of goods and services and to accrue a liability.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

480100 Undelivered 

Orders – Obligations, Unpaid

 490100 Delivered Orders, 

 Obligations, Unpaid

Proprietary Entry

152500 (N) Inventory – Raw 

Materials

 211000 (N) Accounts Payable 

100

100

100

100

B402

Budgetary Entry

None

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry 

None

Budgetary Entry

None

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 19 of 41 IRC Handout July 16, 2020

Also Post:

5. To record activity for current-year purchases of inventory and related property.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

880300 (N) Purchases of Inventory and 

Related Property 

 880100 (N) Offset for Purchases of 

 Assets 

100

100

G122

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

None

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 20 of 41 IRC Handout July 16, 2020

6. To record a confirmed disbursement schedule previously accrued.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

490100 Delivered Orders, 

Obligations, Unpaid

 490200 Delivered Orders, 

 Obligations, Paid

Proprietary Entry

211000 (N) Accounts Payable 

 101000 (G) Fund Balance 

 With Treasury (RC 40)

100

100

100

100

B110

Budgetary Entry

None

Proprietary Entry 

None

 

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry 

201000 (F) Liability for Fund 

Balance With Treasury (RC 40)

 198000 Asset for Agency’s 

 Custodial And Non-Entity 

 Liability 

100

100

Budgetary Entry

None

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 21 of 41 IRC Handout July 16, 2020

7. To record raw materials used to produce coins.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

152600 (N) Inventory – Work-InProcess

 152500 (N) Inventory – Raw 

 Materials 

100

100

D516

Budgetary Entry

None

 

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

 

Proprietary Entry 

None

Budgetary Entry

None

 

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 22 of 41 IRC Handout July 16, 2020

8. To record the completion of manufacturing coins. A reclassification of Inventory from Work-In-Process to Inventory Finished Goods is 

recorded. Note: The program agency may make additional cost accounting entries. This GFR guidance only shows a simplified 

entry for manufacturing coins.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

152700 (N) Inventory – Finished 

Goods

 152600 (N) Inventory – Work-In- 

 Process

800

800

D520

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

None

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 23 of 41 IRC Handout July 16, 2020

9. To record payment of $1,000 from Federal Reserve Bank (FRB). FRB makes a payment for coins manufactured. If the payment is 

greater than the manufacturing cost then by law, the surplus also known as seigniorage is deposited into the GFR account.

Program Fund Debit Credit TC GFR Account Debit Credit TC

Budgetary

426600 Other Actual Business-Type Collections From NonFederal Sources

 406000 Anticipated Collections From Non-Federal Sources

459000 Apportionments – Anticipated Resources – Programs 

Subject to Apportionment

 451000 Apportionments

451000 Apportionments

 461000 Allotments – Realized Resources

Proprietary

650000 (N) Cost of Goods Sold 

 152700 Inventory – Finished Goods

101000 (G) Fund Balance With Treasury (RC 40)

 510000 (N) Revenue From Goods Sold

 

800

800

800

800

800

800

800

800

800

800

C109

A122

A120

E408

C109

Budgetary

None

Proprietary

101000 (G) Fund Balance With Treasury 

(RC 40)

 579500 (N) Seigniorage 

599300 (G) Offset to Non-Entity 

Collections - Statement of Changes in 

Net Position (RC 44)

 298500 (G) Liability for Non-Entity 

 Non-Entity Assets Not Reported on The 

 Statement Of Custodial Activity 

 (RC 46)

200

200

200

200

C145

C147

General Fund of the U.S. Government (099)

Budgetary

Proprietary

198000 (F) Asset for Agency’s Custodial and Non-Entity 

Liabilities – General Fund of the U.S. Government 

 201000 (F) Liability For Fund Balance With Treasury

 (RC 40)

800

800

Budgetary

None

Proprietary

198000 Asset for Agency’s Custodial 

and Non-Entity Liabilities – General 

Fund of the U.S. Government 

 201000 (F) Liability For Fund Balance 

 With Treasury (RC 40)

198000 (F) Asset for Agency’s Custodial 

and Non-Entity Liabilities – General 

Fund of the U.S. Government (RC 46)

 571000 (F) Transfer in of Agency 

 Unavailable Custodial and Non-Entity

 Collections (RC 44)

200

200

200

200
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 24 of 41 IRC Handout July 16, 2020

Year 2 Preclosing Trial Balance

Program Fund GFR Account

Account Description Debit Credit Debit Credit

Budgetary

406000 Anticipated Collections From Non-Federal Sources 200 - - -

420100 Total Actual Resources - Collected 800 - - -

426600 Other Actual Business-Type Collections From NonFederal Sources1,500 - - -

459000 Apportionment – Anticipated Resources – Programs 

Subject to Apportionment

- 200 - -

461000 Allotments – Realized Resources - 800 - -

490200 Delivered Orders – Obligations, Paid - 1,500 - -

Total 2,500 2,500 - -

- - - -

Proprietary

101000 (F) Fund Balance With Treasury 800 - 400 -

298500 (G) Liability for Non-Entity Assets Not Reported on the 

Statement of Custodial Activity

- - - 400

331000 Cumulative Results of Operations - 800 - -

510000 (N) Revenue From Goods Sold - 1,500 - -

579500 (N) Seigniorage - - - 400

599300 (G) Offset to Non-Entity Collection – Statement of 

Changes in Net Position

- - 400 -

610000 (N) Operating Expenses/Program Costs 1,200 - - -

650000 (N) Cost of Goods Sold 1,500 - - -

661000 (N) Cost Capitalization Offset - 1,200 - -

Total 3,500 3,500 800 800

Memorandum

880100 Offset for Purchases of Assets - 300 - -

880300 Purchases of Inventory and Related Properties 300 - - -

Total 300 300 - -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 25 of 41 IRC Handout July 16, 2020

Year 2 – Preclosing Adjusting Entries

1. To record adjustments for anticipated resources not realized.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

459000 Apportionments – Anticipated 

Resources – Programs Subject to 

Apportionments

 406000 Anticipated Collection From 

 Non-Federal Sources

Proprietary Entry

None

200

200

F112

Budgetary Entry

None

 

Proprietary Entry 

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

None

Budgetary Entry

None

 

Proprietary Entry 

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 26 of 41 IRC Handout July 16, 2020

2. To record the closing of the Fund Balance With Treasury collected in a General Fund receipt account at yearend.

Program Fund Debit Credit GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

None 

Budgetary Entry

None

Proprietary Entry

298500 (G) Liability for NonEntity Assets Not Reported on the 

Statement of Custodial Activity 

(RC 46)

 101000 (G) Fund Balance With 

 Treasury (RC 40) 

400

400

F124

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None 

Budgetary Entry

None

 

Proprietary Entry 

201000 (G) Liability for Fund 

Balance With Treasury (RC 40)

 198000 (F) Asset for Agency’s 

 Custodial And Non-Entity 

 Liabilities – General Fund of the 

 U.S. Government (RC 46)

400

400
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 27 of 41 IRC Handout July 16, 2020

Year 2 Preclosing Adjusted Trial Balance

Program Fund GFR Account

Account Description Debit Credit Debit Credit

Budgetary

420100 Total Actual Resources - Collected 800 - - -

426600 Other Actual Business-Type Collections From NonFederal Sources1,500 - - -

461000 Allotments – Realized Resources - 800 - -

490200 Delivered Orders – Obligations, Paid - 1,500 - -

Total 2,300 2,300 - -

- - - -

Proprietary

101000 (G) Fund Balance With Treasury 800 - - -

331000 Cumulative Results of Operations - 800 - -

510000 (N) Revenue From Goods Sold - 1,500 - -

579500 (N) Seigniorage - - - 400

599300 (G) Offset to Non-Entity Collection – Statement of 

Changes in Net Position

- - 400 -

610000 (N) Operating Expenses/Program Costs 1,200 - - -

650000 (N) Cost of Goods Sold 1,500 - - -

661000 (N) Cost Capitalization Offset - 1,200 - -

Total 3,500 3,500 400 400

Memorandum

880100 Offset for Purchases of Assets - 300 - -

880300 Purchases of Inventory and Related Properties 300 - - -

Total 300 300 - -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 28 of 41 IRC Handout July 16, 2020

Financial Statements

CONSOLIDATED BALANCE SHEET AS OF SEPTEMBER 30, YEAR 2

Line 

No.

Assets (Note 2)

Intragovernmental

1. Fund Balance With Treasury (101000E) 800

6. Total intragovernmental 800

15. Total assets 800

Liabilities (Note 13)

Intragovernmental

20. Total intragovernmental -

28. Total Liabilities -

Net Position

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) (331000B, 510000E, 579500E, 

599300E, 610000E, 650000E, 661000E)

800

35. Total Net Position – All Other Funds 800

36. Total Net Position 800

37. Total liabilities and net position 800
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 29 of 41 IRC Handout July 16, 2020

CONSOLIDATED STATEMENT OF NET COST FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

Line 

No.

Gross Program Costs (Note 22):

Program A:

1. Gross Costs (610000E, 650000E, 661000E) 1,500

2. Less: earned revenue (510000E) (1,500)

3. Net program costs: -

5. Net program costs including Assumption Changes: -

8. Net cost of operations -

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

Line 

No.

All 

Other 

Funds

Consolidated

Cumulative Results from Operations:

10. Beginning Balances (331000B) 800 800

12. Beginning balances, as adjusted 800 800

Other Financing Sources (Nonexchange):

22. Other (+/-) (579500E, 599300E) - -

23. Total Financing Sources - -

24. Net Cost of Operations (+/-) - -

25. Net Change - -

26. Cumulative Results of Operations 800 800

27. Net Position 800 800
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 30 of 41 IRC Handout July 16, 2020

STATEMENT OF BUDGETARY RESOURCES FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

Line 

No.

Budgetary resources:

1051 Unobligated balance from prior year budget authority, net (discretionary and mandatory) (420100B, 426600E) 2,300

1910 Total budgetary resources 2,300

Status of budgetary resources:

2190 New obligations and upward adjustments (total) (Note 29) (490200E) 1,500

Unobligated balance, end of year:

2204 Apportioned, unexpired account (461000E) 800

2412 Unexpired unobligated balance, end of year 800

2490 Unobligated balance, end of year (total) 800

2500 Total budgetary resources 2,300

Outlays, net:

4190 Outlays, net (total) (discretionary and mandatory) (426600E, 490200E) -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 31 of 41 IRC Handout July 16, 2020

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

Line No. SF 133 Schedule P

BUDGETARY RESOURCES

Unobligated balance:

1000 Unobligated balance brought forward, Oct 1 (420100B) 800 800

1050 Unobligated balance (total) 800 800

Spending authority from offsetting collections:

Discretionary:

1700 Collected (426600E) 1,500 1,500

1750 Spending authority from offsetting collections, discretionary (total) 1,500 1,500

1900 Budget authority (total) 1,500 1,500

1910 Total budgetary resources 2,300 -

1930 Total budgetary resources available - 2,300

Memoradum (non-add) entries:

All accounts:

1941 Unexpired unobligated balance, end of year (4610000E) - 800

STATUS OF BUDGETARY RESOURCES

New obligations and upward adjustments:

Direct:

2002 Category B (by project) (490200E) 1,500 -

2004 Direct obligations (total) 1,500 -

2170 New obligations, unexpired accounts (490200E) 1,500 -

2190 New obligations and upward adjustments (total) 1,500 -

Unobligated balance:

Apportioned, unexpired accounts:

2201 Available in the current period (461000E) 800 -

2412 Unexpired unobligated balance: end of year 800 -

2490 Unobligated balance, end of year (total) 800 -

2500 Total budgetary resources 2,300 -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 32 of 41 IRC Handout July 16, 2020

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE AS OF SEPTEMBER 30, YEAR 2

Line No. SF 133 Schedule P

Memorandum (non-add) entries:

2501 Subject to apportionment – excluding anticipated amounts (461000E, 490200E) 2,300 -

CHANGE IN OBLIGATED BALANCE

Unpaid obligations:

3010 New obligations, unexpired accounts (490200E) 1,500 1,500

3020 Outlays (gross) (-) (490200E) 1,500 1,500

Memorandum (non-add) entries:

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

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

BUDGET AUTHORITY AND OUTLAYS, NET

Discretionary:

Gross budget authority and outlays:

4000 Budget authority, gross 1,500 1,500

Outlays, gross

4010 Outlays from new discretionary authority (490200E) 1,500 1,500

4020 Outlays, gross (total) 1,500 1,500

4033 Non-Federal sources (-) (426600E) 1,500 1,500

4040 Offsets against gross budget authority and outlays (total) (-) 1,500 1,500

4070 Budget authority, net (discretionary) - -

4080 Outlays, net (discretionary) - -

Budget authority and outlays, net (total)

4180 Budget authority, net (total) - -

4190 Outlays, net (total) - -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 33 of 41 IRC Handout July 16, 2020

Reclassified Statements:

RECLASSIFIED BALANCE SHEET AS OF SEPTEMBER 30, YEAR 2

Line 

No.

GFR 

Account

1 Assets

3 Federal

3.1 Fund balance with Treasury (RC 40/1) (101000E) 800

3.14 Total federal assets 800

4. Total assets 800

Liabilities 

6 Non-federal

6.10 Total non-federal liabilities -

7. Federal

7.15 Total federal liabilities -

8 Total liabilities -

9 Net Position

9.1 Net Position – funds from dedicated collections (331000B, 510000E, 579500E, 599300E, 610000E, 650000E, 

661000E)

800

10 Total net position 800

11. Total liabilities and net position 800
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 34 of 41 IRC Handout July 16, 2020

RECLASSIFIED STATEMENT OF NET COST FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

Line 

No.

Gross cost

2. Non-federal gross cost (610000E, 650000E, 661000E) 1,500

6. Total non-federal gross cost 1,500

9. Department total gross cost 1,500

10. Earned Revenue

11 Non-federal earned revenue (510000E) 1,500

14. Department total earned revenue 1,500

15. Net cost of operations -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 35 of 41 IRC Handout July 16, 2020

RECLASSIFIED STATEMENT OF OPERATIONS AND CHANGES IN NET POSITION FOR THE YEAR ENDED 

SEPTEMBER 30, YEAR 2

Line 

No.

All 

Other 

Funds

Consolidated

1 Net position, beginning of period (331000B) 800 800

4 Net position, beginning of period - adjusted 800 800

5 Non-federal non-exchange revenue:

5.7 Other taxes and receipts (579500E) 400 400

5.9 Total non-federal non-exchange revenue 400 400

6 Federal non-exchange revenue

6.7 Accrual of Collections Yet to be Transferred to a TAS Other Than the General Fund of the U.S. 

Government – Nonexchange (RC 16) (599300E)

(400) (400)

6.9 Total federal non-exchange revenue (400) (400)

7 Budgetary financing sources:

7.20 Total budgetary financing sources - -

9 Net cost of operations (+/-) - -

10 Net position, end of period 800 800
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 36 of 41 IRC Handout July 16, 2020

Closing Entries

1. To record consolidation of actual resources.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

420100 Total Actual Resources – Collected

 426600 Other Actual Business-Type Collections 

 From Non-Federal Sources 

Proprietary Entry

None

1,500

1,500

F302

Budgetary

None

Proprietary

None

General Fund of the U.S. Government (099)

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 37 of 41 IRC Handout July 16, 2020

2. To record paid delivered orders to total actual resources.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

490200 Delivered Orders – Obligations, Paid

 420100 Total Actual Resources – Collected

Proprietary Entry

None

1,500

1,500

F314

Budgetary Entry

None

Proprietary Entry

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 38 of 41 IRC Handout July 16, 2020

3. To record the closing of unobligated balances in programs subject to apportionment to unapportioned authority for unexpired multi-year 

and no-year funds.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

461000 Allotments – Realized Resources

 445000 Unapportioned Authority

Proprietary Entry

None

800

800

F308

Budgetary Entry

None

Proprietary Entry

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 39 of 41 IRC Handout July 16, 2020

4. To record the closing of revenue, expenses, and other financing sources to cumulative results of operations.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

None

Proprietary Entry

510000 (N) Revenue from Goods Sold

661000 Cost Capitalization Offset

 331000 Cumulative Results of Operations

331000 Cumulative Results of Operations

 610000 (N) Operating Expenses/Program Costs

 650000 Cost of Goods Sold

1,500

1,200

2,700

2,700

1,200

1,500

F336

Budgetary

None

Proprietary

579500 (N) Seigniorage

 331000 Cumulative Results of 

 Operations

33100 Cumulative Results of 

Operations

 599300 (G) Offset to Non-Entity 

 Collections – Statement of Changes

 in Net Position (RC 44)

400

400

400

400

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary

None

Proprietary

571000 (F) Transfer in of Agency

Unavailable Custodial and Non-Entity

Collections (RC 44)

 331000 Cumulative Results of 

 Operations

400

400
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 40 of 41 IRC Handout July 16, 2020

5. To record the closing of memorandum accounts for purchases.

Program Fund Debit Credit TC GFR Account Debit Credit

Budgetary Entry

None

Proprietary Entry

880100 Offset for Purchases of Assets

 880300 Purchases of Inventory and Related Properties

300

300

F370

Budgetary Entry

None

Proprietary Entry

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2021

 Page 41 of 41 IRC Handout July 16, 2020

Post-Closing Trial Balance

Program Fund GFR Account

Account Description Debit Credit Debit Credit

Budgetary

420100 Total Actual Resources - Collected 800 - - -

445000 Unapportioned Authority - 800 - -

Total 800 800 - -

- - - -

Proprietary

101000 (G) Fund Balance With Treasury 800 - - -

331000 Cumulative Results of Operations - 800 - -

Total 800 800 - -