November 2015

RAILROAD RETIREMENT BOARD

LOST INVESTMENT OPPORTUNITY (INDEFINITE BUDGET AUTHORITY)

EFFECTIVE FISCAL YEAR 2014

PREPARED BY:

UNITED STATES GENERAL LEDGER ADVISORY DIVISION

GOVERNMENTWIDE ACCOUNTING

BUREAU OF THE FISCAL SERVICE

U.S. DEPARTMENT OF THE TREASURY
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 2 of 15 November 2015

Version 

Number

Date Description of Change Effective

USSGL TFM

1.0 09/04/2014 Original version TFM S2 14-01 Part1 

Revised by Bulletin 

No. 2014-07
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 3 of 15 November 2015

Background

Description of the “Lost Investment Opportunity”

RRB is an independent agency in the executive branch of the federal government. The RRB’s primary function is to administer 

comprehensive retirement-survivor and unemployment-sickness benefit programs for the nation’s railroad workers and their families, under 

the Railroad Retirement and Railroad Unemployment Insurance Acts. Per 45 USC 231f (c)(4), after the end of the month, the RRB shall 

determine the net amount, if any, which if added to or subtracted from the Social Security Trust Funds (Federal Old-Age and Survivors 

Insurance, Federal Disability Insurance, and Federal Hospital Insurance) would, with respect to each month, place those Trust Funds, taken as 

a whole, in the same position as if the Railroad Retirement Act had not been enacted. On a monthly basis RRB borrows from Treasury on the 

15th of the month. Prior to fiscal year 2014 RRB would borrow a principal amount plus the amount RRB would have earned for the number 

of days hypothetically lost if the funds were invested in the Railroad Retirement Trust Fund (RRTF). This results in a “Lost Investment 

Opportunity” for the RRTF. The funds from the borrowing could have been invested in RRTF as of the close of the preceding month. 

Beginning in fiscal year 2014 RRB will be calculating the actual amount of the “Lost Investment Opportunity” each month. Based upon this 

calculation each month Bureau of Fiscal Service (Fiscal Service) will process a warrant for the calculated amount. This amount will be 

recorded in 060X0113. Monthly, the RRB will transfer via the SF-224, the actual “Lost Investment Opportunity” warranted in the 060X0113 

account to the 060X8010.004 account. RRB will do this every month; therefore, there will not be a difference between the total warrant 

amounts for the year versus the total actual transfers for the year at year end. There will never be a situation where the RRB will need to 

transfer an amount back to Treasury due to the fact that at the end of the year the warrant amounts will always total the transferred amounts 

for the year. 

In our example we are using hypothetical data that the total of the transfers for the year will be $4,320,000 (12 months * $360,000). This will 

also be the total of the warrant amounts for the year.

Applicable Railroad Retirement Board Treasury Account Fund Symbols (TAFSs)

60X0113, “Federal Payments to the Railroad Retirement Accounts, Railroad Retirement Board”

60X8010, “Social Security Equivalent Benefit Account, Railroad Retirement Board”

60X8010.004 “Advances from the General Fund for Financial Interchange Interest, Social Security Equivalent Benefit Account, Railroad 

Retirement Board”
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 4 of 15 November 2015

Listing of USSGL Accounts Used in This Scenario

Account 

Number Account Name

Budgetary

411400 Appropriated Receipts Derived from Unavailable Trust or Special Fund Receipts

411900 Other Appropriations realized

420100 Total Actual Resources – Collected

445000 Unapportioned Authority

451000 Apportionments

461000 Allotments – Realized Resources

480100 Undelivered Orders - Obligations, Unpaid

490200 Delivered Orders - Obligations, Paid

Proprietary

101000 Fund Balance With Treasury

310100 Unexpended Appropriations – Appropriations Received

310600 Unexpended Appropriations - Adjustments

310700 Unexpended Appropriations - Used

331000 Cumulative Results of Operations

570000 Expended Appropriations

575000 Expenditure Financing Sources – Transfers-In

576000 Expenditure Financing Sources-Transfers-Out

610000 Operating Expenses/Program Costs
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 5 of 15 November 2015

Illustrative Transactions

A beginning trial balance is not applicable in this scenario.

1. To record monthly amount appropriated to general fund TAFS 060X0113, and subsequently apportioned. RRB actuaries will calculate the actual amount of the 

lost investment each month. This amount will be sent to Treasury each month. The warrant each month will be equal to the actuarial calculated amount. In our example, 

we used $360,000 per month

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010 DR CR TC

Budgetary Entry

4119001 Other Appropriations Realized 

445000 Unapportioned Authority

445000 Unapportioned Authority

451000 Apportionments

Proprietary Entry

101000 Fund Balance With Treasury

310100 Unexpended Appropriations 

– Appropriations Received

360,000

360,000

360,000

360,000

360,000

360,000

A104

A116

Budgetary Entry

None

Proprietary Entry

None

 1 411900: SF 133 and P&F Schedule line 1200 [Appropriation -- Authority_Type=P, BEA_Category_Indicator=M]
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 6 of 15 November 2015

2. To record the expenditure transfer from the RRB general fund to the RRB Trust Fund. The object class code used for the RRB General Fund TAFS of 

060X0113 would be 94.0 (Financial Transfers). The transfer is for the actual amount of the “lost investment” for a month. For our example we are presenting a monthly

transfer of $360,000. The total for the year would be $4,320,000.

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010.004 DR CR TC

Budgetary Entry

451000 Apportionments

490200 Delivered Orders – Obligations, 

Paid

Proprietary Entry

576000 Expenditure Financing Sources –

Transfers-Out

101000 Fund Balance With Treasury

310700 Unexpended Appropriations - Used

570000 Expended Appropriations

360,000

360,000

360,000

360,000

360,000

360,000

A514

B134

Budgetary Entry

4114002 Appropriated Trust or Special Fund 

Receipts

445000 Unapportioned Authority

 

Proprietary Entry

101000 Fund Balance With Treasury

575000 Expenditure Financing Sources –

Transfers-In

360,000

360,000

360,000

360,000

A510

3. To record budget authority apportioned and available for allotment.

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010 DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

445000 Unapportioned Authority 

451000 Apportionments

Proprietary Entry

None

360,000

360,000 A116

 2 411400: SF 133 and P&F Schedule line 1201 [Appropriation -- Authority_Type = P, BEA_Category_Indicator=M, Fund Type=ET]
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 7 of 15 November 2015

4. To record the allotment of authority.

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010 DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

4510000 Apportionments 

 461000 Allotments-Realized Resources

Proprietary Entry

None

360,000

360,000 A120

5. To record current-year obligations, from authority received in transaction #4.

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010 DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

461000 Allotments-Realized Resources

480100 Undelivered Orders – Obligations, 

Unpaid

Proprietary Entry

None

360,000

360,000 B306

6. To record the disbursement of funds related to the obligation in transaction #5.

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010 DR CR TC

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

480100 Undelivered Orders – Obligations, 

Unpaid

490200 Delivered Orders – Obligations, 

Paid

Proprietary Entry

610000 Operating Expenses/Program Costs

101000 Fund Balance With Treasury

360,000

360,000

360,000

360,000

B107
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 8 of 15 November 2015

Pre-Closing Adjusted Trial Balances

RRB General Fund TAFS

060X0113 DR CR

RRB TAFS

060X8010 DR CR

Budgetary

411900 Other Appropriations Realized

445000 Unapportioned Authority

451000 Apportionments

490200 Delivered Orders – Obligations, Paid

TOTAL

Proprietary

101000 Fund Balance With Treasury

310100 Unexpended Appropriations –

Appropriations Received

310700 Unexpended Appropriations - Used

570000 Expended Appropriations

576000 Expenditure Financing Sources –

Transfers-Out

TOTAL

4,320,000

- 

-

 -

4,320,000

-

-

4,320,000

4,320,000

8,820,000

-

 -

-

4,320,000

4,320,000

4,320,000

-

4,320,000

 -

8,820,000

Budgetary

411400 Appropriated Trust or Special Fund 

Receipts

461000 Allotments – Realized Resources 

Apportionment

480100 Undelivered Orders – Obligations, Unpaid

490200 Delivered Orders – Obligations, Paid

TOTAL

Proprietary

101000 Fund Balance With Treasury

575000 Expenditure Financing Sources –

Transfers-In

610000 Operating Expense

TOTAL

4,320,000

 -

4,320,000

-

-

4,320,000

4.320,000

-

-

4,320,000

4,320,000

-

4,320,000

 -

4,320,000
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 9 of 15 November 2015

Closing Entries

7. To record the consolidation of actual net-funded resources and reductions for withdrawn funds.

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010 DR CR TC

Budgetary Entry

420100 Total Actual Resources – Collected

411900 Appropriations Realized 

Proprietary Entry

None

4,320,000

4,320,000 F302

Budgetary Entry

420100 Total Actual Resources - Collected

411400 Appropriated Trust or Special 

Fund Receipts

Proprietary Entry

None

4,320,000

4,320,000 F302

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

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010 DR CR TC

Budgetary Entry

490200 Delivered Orders – Obligations, Paid

420100 Total Actual Resources -

Collected

Proprietary Entry

None

4,320,000

4.320,000

F314

Budgetary Entry

490200 Delivered Orders – Obligations, Paid

420100 Total Actual Resources -

Collected

Proprietary Entry

None

4,320,000

4,320,000

F314

9. To record the closing of revenue, expense, and other financing source accounts to cumulative results of operations.

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010 DR CR TC

Budgetary Entry

None

Proprietary Entry

570000 Expended Appropriations

576000 Expenditure Financing 

Sources – Transfers-Out

4,320,000

4,320,000

F336

Budgetary Entry

None

Proprietary Entry

575000 Expenditure Financing Sources –

Transfers-In

610000 Operating Expenses

4,320,0000

4,320,000

F336
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 10 of 15 November 2015

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

RRB General Fund TAFS

060X0113 DR CR TC

RRB TAFS

060X8010 DR CR TC

Budgetary Entry

None

Proprietary Entry

310100 Unexpended Appropriations –

Appropriations Received

 310700 Unexpended Appropriations –

 Used 

 

4,320,000

4,320,000

F342

Budgetary Entry

None

Proprietary Entry

None 

Post-Closing Adjusted Trial Balances

RRB General Fund TAFS

060X0113 DR CR

RRB TAFS

060X8010 DR CR

Budgetary

None

Proprietary

None

Budgetary

None

Proprietary

None
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 11 of 15 November 2015

STATEMENT OF NET COST

RRB TAFS

060X0113

RRB TAFS

060X8010

Program Costs:

1. Gross costs (Note 22) (610000E) - 4,320,000

3. Net Program Costs (sum of 1 minus 2) - 4,320,000

8. Net cost of operations - 4,320,000
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 12 of 15 November 2015

STATEMENT OF CHANGES IN NET POSITION

RRB TAFS

060X0113

RRB TAFS

060X8010

Cumulative Results of Operations:

Budgetary Financing Sources:

5. Appropriations Used (570000E) 4,320,000 -

8. Transfers-In/Out Without Reimbursement (+/-) (576000E, 575000) (4,320,000) 4,320,000

14. Total Financing Sources (calc of 4 through 13) - 4,320,000

15. Net Cost of Operations (+/-) - 4,320,000

16. Net Change (calc of 14 minus 15) - -

17. Cumulative Results of Operations (calc of 3 and 16) - -

Unexpended Appropriations

Budgetary Financing Sources:

21. Appropriations Received (310100E) 4,320,000 -

24. Appropriations Used (310700E) (4,320,000) -

25. Total Budgetary Financing Sources (calc of 21 through 24) - -

26. Total Unexpended Appropriations (calc of 20 and 25) - -

27. Net Position (calc of 17 and 26) - -
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 13 of 15 November 2015

STATEMENT OF BUDGETARY RESOURCES

RRB TAFS 

060X0113

RRB TAFS 

060X8010

Budgetary Resources:

Line No. Budget Authority:

Appropriations:

Mandatory:

1290 Appropriations (411900E, 411400E) 4,320,000 4,320,000

1910 Total Budgetary Resources 4,320,000 4,320,000

Status of Budgetary Resources:

Obligations Incurred:

2190 Obligations Incurred (490200E) 4,320,000 4,320,000

2500 Total Budgetary Resources 4,320,000 4,320,000

Change in Obligated Balance

 Unpaid Obligations:

3012 Obligations Incurred, Unexpired Accounts (490200E) 4,320,000 4,320,000

3020 Outlays (gross)(-)(490200E) (4,320,000) (4,320,000)

Budgetary Authority and Net Outlays

Mandatory

Gross Budget Authority and Outlays:

4175 Budget Authority, Gross(Discretionary and Mandatory) 4,320,000 4,320,000

4180 Budget Authority, Net (Discretionary and Mandatory) 4,320,000 4,320,000

4185 Outlays, Gross (Discretionary and Mandatory) 4,320,000 4,320,000

4190 Outlays, Net (Discretionary and Mandatory) 4,320,000 4,320,000

4210 Agency Outlays, Net (Discretionary and Mandatory) 4,320,000 4,320,000
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 14 of 15 November 2015

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing (P&F) Schedule3

RRB TAFS

060X0113

RRB TAFS

060X8010

SF 133 P&F SF 133 P&F

Line No. BUDGETARY RESOURCES

All accounts:

0900 Total new obligations (490200E) - 4,320,000 - 4,320,000

Budget Authority:

Appropriations:

Mandatory:

1200 Appropriation (411900E) 4,320,000 4,320,000 - -

1201 Appropriation Special or Trust Fund (411400E) - - 4,320,000 4,320,000

1900 Budget Authority Total - 4,320,000 - 4,320,000

1910 Total Budgetary Resources - 4,320,000 4,320,000 -

STATUS OF BUDGETARY RESOURCES

Obligations incurred:

Direct:

2002 Category B (490200E) 4,320,000 - 4,320,000 -

 3

Note: USSGL TFM S2-14-01 Part 1 has two separate crosswalks for simplicity; we combined the SF 133 and P&F.
Railroad Retirement Board

Lost Investment Opportunity (Indefinite Budget Authority)

Effective Fiscal 2014

 15 of 15 November 2015

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing (P&F) Schedule3

RRB TAFS

060X0113

RRB TAFS

060X8010

SF 133 P&F SF 133 P&F

2004 Direct Obligations Total 4,320,000 - 4,320,000 -

2490 Unobligated balance, end of year - - - - 

2500 Total budgetary resources 4,320,000 - 4,320,000 -

CHANGE IN OBLIGATED BALANCE

Obligated balance, start of year (net):

 3010 Obligations incurred, unexpired accounts (490200E) 4,320,000 4,320,000 4,320,000 4,320,000

 3020 Outlays (gross (-) (490200E) (4,320,000) (4,320,000) (4,320,000) (4,320,000)

BUDGET AUTHORITY AND OUTLAYS, NET

Mandatory:

Gross budget authority and outlays:

 4090 Budget authority, gross 4,320,000 4,320,000 4,320,000 4,320,000

 4100 Outlays from new mandatory authority (490200E) 4,320,000 4,320,000 4,320,000 4,320,000

 4110 Total outlays, gross (Total) 4,320,000 4,320,000 4,320,000 4,320,000

 4160 Budget authority, net (mandatory) 4,320,000 4,320,000 4,320,000 4,320,000

 4170 Outlays, net (mandatory) 4,320,000 4,320,000 4,320,000 4,320,000

 4180 Budget authority, net (discretionary and mandatory) 4,320,000 4,320,000 4,320,000 4,320,000

 4190 Outlays, net (discretionary and mandatory) 4,320,000 4,320,000 4,320,000 4,320,000