Improving the Financial Report of the U.S. Government - 2016 Plans with GTAS and GFRS 

Luke Sheppard

May 12, 2016

1

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.

Objective

LEAD ∙ TRANSFORM ∙ DELIVER

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2015 (and PY) Reporting State

Governmentwide Financial Reporting System (GFRS)

Extensive Manual Entry

Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS)

Other Entities

Significant  Entities

All Entities

LEAD ∙ TRANSFORM ∙ DELIVER

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Explain that the focus is just the preparation of the FR

Focus on all entities do GTAS reporting but for the FR significant entities still have to do all modules in GFRS.

Point out the use of significant entities GTAS data throughout the fiscal year and at year end for analysis and closing audit recommendations.

3

|                    | 2015                                                    |                             | 2016                                                    |                             | TBD                                                     |                             |
|--------------------|---------------------------------------------------------|-----------------------------|---------------------------------------------------------|-----------------------------|---------------------------------------------------------|-----------------------------|
| Reporting Entity   | Reclassified Statements and Trading Partner Data Source | Notes and Other Data Source | Reclassified Statements and Trading Partner Data Source | Notes and Other Data Source | Reclassified Statements and Trading Partner Data Source | Notes and Other Data Source |
| Significant Entity | Manual Entry                                            | Manual Entry                | GTAS*                                                   | Manual Entry                | GTAS                                                    | GTAS/ Manual Entry          |
| Other Entity       | GTAS                                                    | Manual Entry                | GTAS                                                    | Manual Entry                | GTAS                                                    | GTAS/ Manual Entry          |

Planned Future Reporting Changes

*Notes:

Capability provided to agencies to adjust GFRS at financial statement line level (to be phased out over some period of time)

Will still require agency CFO and IG approval

LEAD ∙ TRANSFORM ∙ DELIVER

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Future State

Limited Manual Entry

Governmentwide Financial Reporting System (GFRS)

Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS)

LEAD ∙ TRANSFORM ∙ DELIVER

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Explain that the focus is just the preparation of the FR

Focus on all entities do GTAS reporting but for the FR significant entities still have to do all modules in GFRS.

Point out the use of significant entities GTAS data throughout the fiscal year and at year end for analysis and closing audit recommendations.

5

Improved data quality/integrity

Data at lower level detail (TAS and USSGL rather than Financial Statement line level)

Data has already been exposed to extensive edits and validations

Automated vs manual population

Reduced agency reporting burden (leveraging what agencies already provide to Treasury in GTAS)

Streamlined financial reporting guidance

More efficient and effective FR compilation process for Treasury

One data source for detailed analysis

Likely reduction of a large percentage of ‘on the top adjustments’ (journal vouchers)

Benefits

LEAD ∙ TRANSFORM ∙ DELIVER

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Agencies will submit year-end GTAS Bulk File ATB data as normal in GTAS

Certified TAS from GTAS will be summarized at the FR Line level, using the USSGL Reclassified Statement cross-walks

Intra-departmental eliminations will occur in GTAS before the data is sent to GFRS (i.e, only agency consolidated amounts will be sent to GFRS).

Only Certified TAS will be included in the interface to GFRS.  

The 2016 Draft TFM is now available (https://community.max.gov/pages/viewpage.action?pageId=839418232), detailing these changes.

2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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All agency CFO and OIG personnel (and associated contractors) need to request access to OMB Max to view the TFM draft.  Please contact OMB Max support at 202-395-6860 or email maxsupport@omb.eop.gov

Once access is granted, everyone will then need to contact the GTAS team to be added to a group to view the TFM draft page.  GTAS.Team@fiscal.treasury.gov

2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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The 2016 Draft TFM has updated guidance (see snapshot below):

2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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Once the Agencies have certified in GTAS, they will need to run a new report, coming in GTAS 2.8 release (scheduled for August), called “Reconciliation Report.” 

This report will have the calculated Closing Package Line amounts, post intra-departmental eliminations

Agencies are then required to tie these Reports to their audited General Purpose Financial Reports (GPFR).  

2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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Resolution of Report differences:

Differences due to incorrect GTAS submissions (e.g., incorrect USSGL and/or attribute), are to be resolved via a resubmit of GTAS bulk files to correct the issue.  

For differences that cannot be resolved via a GTAS Bulk File resubmission, manual adjustments will be needed in GTAS.  The Agency must request this in OMB Max Collect Exercise (https://collect.max.gov/?id=6093&type=Exercise).

There will be a new folder in GTAS titled “Manual Adjustments” for agency entry.

2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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Agencies will be required to obtain approval from Fiscal Service to do a Manual Adjustment in GTAS.

Each Manual Adjustment will require an Explanation.

All Manual Adjustments must be certified by the Agency before it can be included in the Interface to GFRS (similar to how only certified TAS are sent to GFRS).  

Agencies will be required to reconcile their Closing Package data, based on their GTAS ATB upload and Manual Adjustments, if any, to their GPFRs.

2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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Fiscal Service has devised an Excel template for Agencies to tie their GPFR to GTAS data.

2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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2016 Year-End Reporting - Details

Once the TAS ATB data and Manual Adjustments are certified in GTAS and the Agencies have reconciled to their GPFR:

Agencies must then go into GFRS to complete their Notes and Other Data sections (Modules 6 and 7).  

After Modules 6 and 7 are complete, Agency Preparers, CFOs and IGs must then complete Module 8 and submit the audit package.

LEAD ∙ TRANSFORM ∙ DELIVER

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Module 8 (Completions and Approvals) in GFRS has been revised accordingly.

2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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2016 Year-End Reporting - Details

LEAD ∙ TRANSFORM ∙ DELIVER

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More emphasis on GTAS this year.

Changes are underway to federal audit guidance (OMB Bulletin 15-02) to ensure changes are consistent with I TFM 2-4700.

OIG and related IPA personnel, will require access to GTAS to review the Reconciliation Report and any other detail reports.

Changes Impacting OIGs (and IPAs)

LEAD ∙ TRANSFORM ∙ DELIVER

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OIG/IPA personnel should sign up for GTAS access as an “Executive” role.  The Executive role is view only, and will allow users to run reports and view the Manual Adjustments.

To sign up for GTAS you can go to this web site:  https://fiscal.treasury.gov/gtas/getting-started.html

For any questions on how to sign up, please contact the Treasury Support Center.

	1-877-440-9476 or email GWA@stls.frb.org

Changes Impacting OIGs (and IPAs)

LEAD ∙ TRANSFORM ∙ DELIVER

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Questions?

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Contact Information

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Oscar Castro

	Department of the Treasury-	Bureau of the Fiscal Service

	(202) 480-5104

	Luke.Sheppard@fiscal.treasury.gov

Jaime Saling

	Department of the Treasury	Bureau of the Fiscal Service

	(304) 480-5129

	Jaime.Saling@fiscal.treasury.gov

LEAD ∙ TRANSFORM ∙ DELIVER

Contact Information

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Luke Sheppard

	Department of the Treasury	Bureau of the Fiscal Service

	(304) 480-5104

	Luke.Sheppard@fiscal.treasury.gov

Michael Conley

	Department of the Treasury	Bureau of the Fiscal Service

	(304) 480-5521

	Michael.Conley@fiscal.treasury.gov

LEAD ∙ TRANSFORM ∙ DELIVER

Contact Information

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