**“****C” Treasury Account Symbol (TAS) Guidance**

**Effective Fiscal 2017**

**“C” TREASURY ACCOUNT SYMBOL (TAS) GUIDANCE**

**EFFECTIVE FISCAL YEAR 2017**

**PREPARED BY:**

**UNITED STATES STANDARD GENERAL LEDGER ADVISORY DIVISION**

**GOVERNMENTWIDE ACCOUNTING**

**BUREAU OF THE FISCAL SERVICE**

**U.S. DEPARTMENT OF THE TREASURY**

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**Background:**

Expired obligated and unobligated balances must be reported as canceled on the final, September 30 SF133 before you close the TAFS.  Once an amount is reported as canceled, it should not be reported again. (Circular A-11, Section 130.3)

GTAS will establish a default TAS (“C” domain value for availability type). The system-generated “C” TAS will have three components: the three-digit agency identifier, availability type “C,” and a four-digit main account. The GTAS system will provide a “C” TAS on the GTAS Super Master Accounts File for each fund family represented on the SMAF.  Agencies may choose one or more “C” TAS on the SMAF to report assets.

If an entity is using a default fund symbol of its own creation, they must use the new “C” account in its place. However, if

agencies are using an unexpired, annual (X) or multi-year fund, they may continue.  **Entities may also decide on their own when to move these assets from the original purchasing fund, but must be accomplished no later than the agency’s final GTAS submission for period 12 of the fifth fiscal year after the availability has expired**(2-4700 TFM).  For example, a TAS with period of availability of 2011 would need to move the assets no later than September 30, 2016 (pre-closing).

This scenario’s focus is on the use of the “C” TAS and Fixed Assets.

**Assumptions:**

· TAFS is an annual 2011 general fund expenditure TAS. 

· Scenario starts at the expired phase other than the fifth expired year.  

**Listing of USSGL Accounts Used in This Scenario:**

*For Account Definitions please refer to the USSGL TFM Section II.

**Pre-Closing Adjusted Trial Balance Period 12:**

**Closing Entries:**

1.  To record closing of paid delivered orders to total actual resources.

2.  To record closing of revenue to cumulative results of operation.

3.  To record closing of expenses to cumulative results of operation.

4.  To record closing of fiscal year activity to unexpended appropriations.

5.  To record closing of memorandum accounts for purchases.

**Post-Closing Trial Balance:**

**Financial Statements:**

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**Reclassified Financial Statements:**

**Canceling Year:**

**Beginning Trial Balance:**

We are now in period 12 of the fifth year of the expired TAS (i.e. the canceling year.) 

The budgetary resources in the account are canceled in the fifth year and the funds are withdrawn, however, the payable is reinstated in the canceled TAS. The following entries illustrate the necessary transactions. **Remember, the payable was recorded and the expense associated with the payable was recognized in the year the TAS was unexpired – YEAR 2011**.

**YEAR 2016**- No other entries occurred during the fifth expired year after the availability of the appropriation/budget authority expired. Note that the following entries, 1 and 2, are considered adjusting entries. 1**.**To record the cancellation of a valid obligation and accounts payable in canceling TAS and to withdraw unobligated balances. Note that although the budget resources for this appropriation is being canceled, the government is obligated to pay this account upon receipt of a valid bill. Therefore, record the associated accounting event 2 to reestablish the "canceled accounts payable" concurrently with this event. Section III – F128.

**Pre-closing Adjusting Entries:**

1.  To record cancelation of payable in Period 12.

2.  To record the transfer-out of buildings, improvements, and renovations.

3.  To record the cancelation of expired authority and withdraw funds.

**Pre-Closing Trial Balance:**

**Closing Entries:**

1.  To record the closing of downward adjustments and transfers to delivered orders – obligations, unpaid.

2.  To record closing of expenses to cumulative results of operation.

3.  To record closing of fiscal-year activity to unexpended appropriations.

**Canceling Year:**

**Post Close Trial Balance:**

Page 21 of 24	IRC Handout April 20, 2017