Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

1

Background

The accounting for refunds collected by Federal trust funds or special funds may be different 

than that of refunds collected by general funds and revolving funds. When a general or 

revolving fund collects a refund of funds that were obligated in a previous year, and the 

appropriation against which the obligation was incurred remains available for new obligations, 

the refund is to be recorded as an offsetting collection.1 Any remaining unobligated balances 

will carry forward to the next year as unobligated balances brought forward, available for 

obligation. When a trust or special fund collects a refund of funds that were obligated in a 

previous year, the refund is also to be recorded as an offsetting collection. However, the 

collection may or may not be available for obligation. In most cases, the collections are 

available for obligation.

If the collection is available for obligation, any remaining unobligated balances will carry 

forward to the next year as unobligated balances brought forward, available for obligation. If the 

collection is unavailable for obligation, however, the authority is to be temporarily precluded 

from obligation. At year-end, the amounts are then reclassified as either 1) unavailable for 

obligation, or 2) temporarily precluded from obligation, depending upon the nature of the trust or 

special fund. In either case, the unobligated balances remain unavailable for obligation. The 

funds collected will (generally) remain within the trust or special fund, regardless of whether the 

collection is available or unavailable for obligation.

Furthermore, the same concept applies to recoveries of prior-year obligations. Recoveries of 

amounts that were obligated in a previous year are to be reported the same way regardless of 

fund type (i.e. general fund, trust fund, special fund). If the recovery is in a trust or special fund, 

however, it may or may not be available for obligation.

In most cases, recoveries are available for obligation, and would be treated the same as general

and revolving funds. If the recovery is unavailable for obligation, however, the authority is to 

be temporarily precluded from obligation. At year-end, the amounts are to be reclassified as 

either 1) unavailable for obligation, or 2) temporarily precluded from obligation, depending upon 

the nature of the trust or special fund. In either case, the unobligated balances remain 

unavailable for obligation. 

 1 OMB Circular No. A-11 (2002), Section 20-35
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

2

In order to illustrate this concept, the scenario is divided into two sections. EACH SECTION IS 

INDEPENDENT OF THE OTHER.

Scenario Preface

Special Fund Treasury Appropriation Fund Symbols (TAFS) 14X5123 and 14X5321 collect refunds of 

funds that were obligated and disbursed in a previous year. Assume receipts and collections are 

available for investment. Also assume the program is subject to apportionment.

• SECTION I (14X5123): Year 1 and Year 2 illustrate the accounting for a special fund where 

receipts and collections are available for obligation.

• SECTION II (14X5321): Year A and Year B illustrate the accounting for a special fund where 

receipts and collections are unavailable for obligation. THIS SECTION PROPOSES THE USE 

OF A NEW USSGL ACCOUNT.
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

3

New USSGL Account (Refer to SECTION II)

Account Title: Special and Trust Fund Refunds and Recoveries Temporarily Precluded 

from Obligation

Account Number: 4399

Normal Balance: Credit

Definition: The amount of authority in a trust or special Treasury Appropriation Fund Symbol 

(TAFS) that is temporarily precluded from obligation as of a result of a refund collected or 

recovery of a prior-year obligation that is unavailable for obligation. Use only with OMB 

approval. This account closes at yearend.

Justification: A USSGL account was needed that crosswalks to SF 133: Report on Budget 

Execution and Budgetary Resources, line 5: Temporarily Not Available Pursuant to Public Law 

and P&F, line 2398: Unobligated Balance Expiring or Withdrawn. Fund Balance is to remain in 

the trust or special fund.

Impact on USSGL Crosswalks

USSGL Account 4399

USSGL

2108

Column 11: Unobligated Balance “E” balance

SF 133 Line 5: Temporarily Not Available Pursuant to Public Law “E” balance

P&F Line 2398: Unobligated Balance Expiring or Withdrawn “E” balance
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

4

SECTION I: Year 1

Special Fund 14X5123 - Available for Investment and Obligation

TC

A186

1. To record the collection of revenue available for investment AND obligation.

Budgetary

4114 Appropriated Trust or Special Fund Receipts 125,000

4450 Unapportioned Authority 125,00

Proprietary

1010 Fund Balance With Treasury 125,000

5900 Other Revenue 125,000

TC

B124

2. To record the investment in Federal securities acquired at par value.

Budgetary

None

Proprietary

1610 Investments in U.S. Treasury Securities Issued by Fiscal Service125,000

1010 Fund Balance With Treasury 125,000

TC

C132

3. To record the refund of funds that were obligated and disbursed in a previous year. The 

refund is reflected on the SF 224: Statement of Transactions against the special fund 

expenditure account (14X5123).

Budgetary

4972 Downward Adjustments of Prior-Year Paid Delivered Orders –

Obligations, Refunds Collected 40,000

4450 Unapportioned Authority 40,000

Proprietary

1010 Fund Balance With Treasury 40,000

6100 Operating Expenses/Program Costs 40,000

TC

B124

4. To record the investment of funds from transaction #3 in Federal securities acquired at par 

value.

Budgetary

None

Proprietary

1610 Investments in U.S. Treasury Securities Issued by Fiscal Service40,000

1010 Fund Balance With Treasury 40,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

5

SECTION I: Year 1

Special Fund 14X5123 - Available for Investment and Obligation

BUDGETARY Closing Entries, Trial Balances

Pre-closing Adjusted Trial Balance

(FACTS II submission)

4114 125,000

4450 165,000

4972 40,000

165,000 165,000

TC

F204

TC

F216

Closing Entries

C1) To record the consolidation of actual net-funded resources.

4201 Total Actual Resources - Collected 125,000

4114 Appropriated Trust or Special Fund Receipts 125,000

C2) To record the closing of related adjustments to Expended Authority – Paid when there is a 

net downward adjustment.

4201 Total Actual Resources – Collected 40,000

4972 Downward Adjustments of Prior-Year Paid Delivered

Orders – Obligations, Refunds Collected 40,000

Post-Closing Trial Balance

4201 165,000

4450 165,000

165,000 165,000

PROPRIETARY Closing Entries, Trial Balances

Pre-closing Trial Balance

(FACTS I submission)

1610 165,000

5900 125,000

6100 40,000

165,000 165,000

TC

F228

Closing Entries

C1) To record the closing of revenue and expense accounts to cumulative results of operations.

5900 Other Revenue 125,000

6100 Operating Expenses/Program Costs 40,000

3310 Cumulative Results of Operations 165,000

Post-Closing Trial Balance

1610 165,000

3310 165,000

165,000 165,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

6

SECTION I: Year 1

Special Fund 14X5123 - Available for Investment and Obligation

SF 133: Report on Budget Execution and Budgetary Resources

1A. Budget Authority: Appropriations Received (4114E) 125,000

3A1. Spending Authority From Offsetting Collections: Collected (4972E) 40,000

5. Temporarily Not Available Pursuant to Public Law (-) 0

7. Total Budgetary Resources (calculation 1..6) 165,000

10D. Unobligated Balance Not Available: Other (4450E) 165,000

11. Total Status of Budgetary Resources (calculation 8..10) 165,000

15B. Outlays: Collections (-) (4972E) (40,000)

USSGL 2108: Year-End Closing Statement

Column 2 Preclosing Unexpended Balance – Treasury Supplied 0

Column 4 Unobligated and Obligated Balance Withdrawn/Canceled 0

Column 5 Postclosing Unexpended Balance (1010E) 0

Column 6 Other Authorizations (1610E) 165,000

Column 11 Unobligated Balance (4450E) 165,000

FACTS II Edit Checks:

Column 2 +/- 4 = 5

Column 5+6+7+8 = 9+10+11
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

7

SECTION I: Year 1

Special Fund 14X5123 - Available for Investment and Obligation

Budget Program and Financing (P&F) Schedule

OBLIGATIONS BY PROGRAM ACTIVITY

1000 Total new obligations (+) 0

BUDGETARY RESOURCES AVAILABLE FOR OBLIGATION

2140 Unobligated balance carried forward, start of year 0

2200 New budget authority (gross) (+) (sum 4000 to 6990) 165,000

2395 Total new obligations (-) (from line 1000) 0

2440 Unobligated balance carried forward, end of year (4450E) 165,000

NEW BUDGET AUTHORITY (GROSS), DETAIL

6020 Appropriation (special fund) (+) (4114E) 125,000

6900 Spending authority from offsetting collections (cash) (+) (4972E) 40,000

7000 Total new budget authority (gross) (-) (sum 4000 to 6990) 165,000

OFFSETS

8800 Offsetting collections from Federal sources (-) (4972E) (40,000)

NET BUDGET AUTHORITY AND OUTLAYS

8900 Budget authority (net) (+) (sum 2200 and 8800 to 8896) 125,000

9000 Outlays (net) (+) (sum 8700 and 8800 to 8845) (40,000)

MEMORANDUM (NON-ADD) ENTRIES

9201 Total investments, start of year: Federal securities: Par value (+) (1610B) 0

9202 Total investments, end of year: Federal securities: Par value (+) (1610E) 165,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

8

SECTION I: Year 1

Special Fund 14X5123 - Available for Investment and Obligation

OMB Form and Content Statements 

Balance Sheet

Intragovernmental Assets

1. Fund Balance With Treasury 0

2. Investments (1610E) 165,000

3. Accounts Receivable 0

6. Total Intragovernmental Assets (calculation 1..5) 165,000

15. Total Assets (calculation 6..14) 165,000

Intragovernmental Liabilities

16. Accounts Payable 0

19. Total Intragovernmental Liabilities (calculation 16..18) 0

27. Total Liabilities (calculation 19..26) 0

Net Position

29. Unexpended Appropriations 0

30. Cumulative Results of Operations (3310E) 165,000

31. Total Net Position (calculation 29+30) 165,000

32. Total Liabilities/Net Position (calculation 27+31) 165,000

Statement of Net Cost

Intragovernmental Gross Costs

1. Intragovernmental 0

2. Less: Intragovernmental Earned Revenues 0

3. Intragovernmental Net Costs (calculation 1-2) 0

Gross Costs With the Public

4. With the Public (6100N) (40,000)

5. Less: Earned Revenues 0

6. Net Costs With the Public (calculation 4-5) (40,000) 

7. Total Net Costs (calculation 3+6) (40,000)

10. Net Cost of Operations (calculation 7+8-9) (40,000)
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

9

SECTION I: Year 1

Special Fund 14X5123 - Available for Investment and Obligation

OMB Form and Content Statements (continued)

Statement of Changes in Net Position

Cum Res of Ops Unexp Approps

1. Beginning Balances (3310B)

2. Prior Period Adjustments

3. Beginning Balances, As Adjusted (calculation 1..2)

Budgetary Financing Sources

4. Appropriations Received 0

7. Appropriations Used 0 0

8. Non-Exchange Revenue (5900N) 125,000

16. Total Financing Sources (calculation 6..15) 125,000 0

17. Net Cost of Operations (40,000) 0

18. Ending Balances (calculation ((3+16)-17)) 165,000 0

Statement of Budgetary Resources

1A. Budget Authority: Appropriations Received (4114E) 125,000

3A1. Spending Authority From Offsetting Collections: Collected (4972E) 40,000

5. Temporarily Not Available Pursuant to Public Law (-) 0

7. Total Budgetary Resources (calculation 1..6) 165,000

10D. Unobligated Balance Not Available: Other (4450E) 165,000

11. Total Status of Budgetary Resources (calculation 8..10) 165,000

15B. Outlays: Collections (-) (4972E) (40,000)

15C. Subtotal (calculation 15A..15B) (40,000)

 

17. Net Outlays (calculation 15C-16) (40,000)

Statement of Financing

1. Obligations Incurred 0

2. Less: Spending Authority From Offsetting Collections and Recoveries (4972E) (40,000)

3. Obligations Net of Offsetting Collections and Recoveries (calculation 1-2) (40,000)

4. Less: Offsetting Receipts 0

5. Net Obligations (calculation 3-4) (40,000)

11. Total Resources Used to Finance Activities (calculation 5+10) (40,000)

12. Change in Budgetary Resources 0

16. Other Resources or Adjustments to Net Obligated Resources That Do Not

 Affect Net Cost of Operations 0

17. Total Resources Used to Finance Items Not Part of

 Net Cost of Operations (calculation 12..16) 0

18. Total Resources Used to Finance the Net Cost of Operations (calculation 11-17) (40,000)

30. Net Cost of Operations (calculation 18+29) (40,000)
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

10

SECTION I: Year 2

Special Fund 14X5123 - Available for Investment and Obligation

TC

A186

1. To record the collection of revenue available for investment AND obligation.

Budgetary

4114 Appropriated Trust or Special Fund Receipts 200,000

4450 Unapportioned Authority 200,00

Proprietary

1010 Fund Balance With Treasury 200,000

5900 Other Revenue 200,000

TC

B124

2. To record the investment in Federal securities acquired at par value.

Budgetary

(None)

Proprietary

1610 Investments in U.S. Treasury Securities Issued by Fiscal Service200,000

1010 Fund Balance With Treasury 200,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

11

SECTION I: Year 2

Special Fund 14X5123 - Available for Investment and Obligation

BUDGETARY Closing Entries, Trial Balances

Pre-closing Adjusted Trial Balance

(FACTS II submission)

4114 200,000

4201 165,000

4450 365,000

365,000 365,000

TC

F204

Closing Entries

C1) To record the consolidation of actual net-funded resources.

4201 Total Actual Resources - Collected 200,000

4114 Appropriated Trust or Special Fund Receipts 200,000

Post-Closing Trial Balance

4201 365,000

4450 365,000

365,000 365,000

PROPRIETARY Closing Entries, Trial Balances

Pre-closing Trial Balance

(FACTS I submission)

1610 365,000

3310 165,000

5900 200,000

365,000 365,000

TC

F228

Closing Entries

C1) To record the closing of revenue accounts to cumulative results of operations.

5900 Other Revenue 200,000

3310 Cumulative Results of Operations 200,000

Post-Closing Trial Balance

1610 365,000

3310 365,000

365,000 365,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

12

SECTION I: Year 2

Special Fund 14X5123 - Available for Investment and Obligation

SF 133: Report on Budget Execution and Budgetary Resources

1A. Budget Authority: Appropriations Received (4114E) 200,000

2A. Unobligated Balance: Beginning of Period (4201B) 165,000

3A1. Spending Authority From Offsetting Collections: Collected 0

5. Temporarily Not Available Pursuant to Public Law (-) 0

7. Total Budgetary Resources (calculation 1..6) 365,000

10D. Unobligated Balance Not Available: Other (4450E) 365,000

11. Total Status of Budgetary Resources (calculation 8..10) 365,000

USSGL 2108: Year-End Closing Statement

Column 2 Preclosing Unexpended Balance – Treasury Supplied 0

Column 4 Unobligated and Obligated Balance Withdrawn/Canceled 0

Column 5 Postclosing Unexpended Balance (1010E) 0

Column 6 Other Authorizations (1610E) 365,000

Column 11 Unobligated Balance (4450E) 365,000

FACTS II Edit Checks:

Column 2 +/- 4 = 5

Column 5+6+7+8 = 9+10+11
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

13

SECTION I: Year 2

Special Fund 14X5123 - Available for Investment and Obligation

Budget Program and Financing (P&F) Schedule

OBLIGATIONS BY PROGRAM ACTIVITY

1000 Total new obligations (+) 0

BUDGETARY RESOURCES AVAILABLE FOR OBLIGATION

2140 Unobligated balance carried forward, start of year (4201B) 165,000

2200 New budget authority (gross) (+) (sum 4000 to 6990) 200,000

2395 Total new obligations (-) (from line 1000) 0

2440 Unobligated balance carried forward, end of year (4450E) 365,000

NEW BUDGET AUTHORITY (GROSS), DETAIL

6020 Appropriation (special fund) (+) (4114E) 200,000

6900 Spending authority from offsetting collections (cash) (+) 0

7000 Total new budget authority (gross) (-) (sum 4000 to 6990) 200,000

OFFSETS

8800 Offsetting collections from Federal sources (-) 0

NET BUDGET AUTHORITY AND OUTLAYS

8900 Budget authority (net) (+) (sum 2200 and 8800 to 8896) 200,000

9000 Outlays (net) (+) (sum 8700 and 8800 to 8845) 0

MEMORANDUM (NON-ADD) ENTRIES

9201 Total investments, start of year: Federal securities: Par value (+) (1610B) 165,000

9202 Total investments, end of year: Federal securities: Par value (+) (1610E) 365,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

14

SECTION I: Year 2

Special Fund 14X5123 - Available for Investment and Obligation

OMB Form and Content Statements 

Balance Sheet

Intragovernmental Assets

1. Fund Balance With Treasury 0

2. Investments (1610E) 365,000

3. Accounts Receivable 0

6. Total Intragovernmental Assets (calculation 1..5) 365,000

15. Total Assets (calculation 6..14) 365,000

Intragovernmental Liabilities

16. Accounts Payable 0

19. Total Intragovernmental Liabilities (calculation 16..18) 0

27. Total Liabilities (calculation 19..26) 0

Net Position

29. Unexpended Appropriations 0

30. Cumulative Results of Operations (3310E) 365,000

31. Total Net Position (calculation 29+30) 365,000

32. Total Liabilities/Net Position (calculation 27+31) 365,000

Statement of Net Cost

Intragovernmental Gross Costs

1. Intragovernmental 0

2. Less: Intragovernmental Earned Revenues 0

3. Intragovernmental Net Costs (calculation 1-2) 0

Gross Costs With the Public

4. With the Public 0

5. Less: Earned Revenues 0

6. Net Costs With the Public (calculation 4-5) 0 

7. Total Net Costs (calculation 3+6) 0

10. Net Cost of Operations (calculation 7+8-9) 0
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

15

SECTION I: Year 2

Special Fund 14X5123 - Available for Investment and Obligation

OMB Form and Content Statements (continued)

Statement of Changes in Net Position

Cum Res of Ops Unexp Approps

1. Beginning Balances (3310B) 165,000

2. Prior Period Adjustments

3. Beginning Balances, As Adjusted (calculation 1..2) 165,000

Budgetary Financing Sources

4. Appropriations Received 0

7. Appropriations Used 0 0

8. Non-Exchange Revenue (5900N) 200,000

16. Total Financing Sources (calculation 6..15) 200,000 0

17. Net Cost of Operations 0 0

18. Ending Balances (calculation ((3+16)-17)) 365,000 0

Statement of Budgetary Resources

1A. Budget Authority: Appropriations Received (4114E) 200,000

2A. Unobligated Balance: Beginning of Period (4201B) 165,000

3A1. Spending Authority From Offsetting Collections: Collected 0

5. Temporarily Not Available Pursuant to Public Law (-) 0

7. Total Budgetary Resources (calculation 1..6) 365,000

10D. Unobligated Balance Not Available: Other (4450E) 365,000

11. Total Status of Budgetary Resources (calculation 8..10) 365,000

17. Net Outlays (calculation 15C-16) 0

Statement of Financing

1. Obligations Incurred 0

2. Less: Spending Authority From Offsetting Collections and Recoveries (0)

3. Obligations Net of Offsetting Collections and Recoveries (calculation 1-2) 0

4. Less: Offsetting Receipts 0

5. Net Obligations (calculation 3-4) 0

11. Total Resources Used to Finance Activities (calculation 5+10) 0

12. Change in Budgetary Resources 0

16. Other Resources or Adjustments to Net Obligated Resources That Do Not

 Affect Net Cost of Operations 0

17. Total Resources Used to Finance Items Not Part of

 Net Cost of Operations (calculation 12..16) 0

18. Total Resources Used to Finance the Net Cost of Operations (calculation 11-17) 0

30. Net Cost of Operations (calculation 18+29) 0
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

16

SECTION II: Year A

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

Beginning Trial Balances

Budgetary

4201 4,000

4901 4,000

4,000 4,000

Proprietary

1610 4,000

2110 4,000

4,000 4,000

TC

A188

1. To record the collection of revenue available for investment but NOT obligation.

Budgetary

4114 Appropriated Trust or Special Fund Receipts 100,000

4394 Receipts Unavailable for Obligation Upon Collection 100,00

Proprietary

1010 Fund Balance With Treasury 100,000

5900 Other Revenue 100,000

TC

B124

2. To record the investment in Federal securities acquired at par value.

Budgetary

None

Proprietary

1610 Investments in U.S. Treasury Securities Issued by Fiscal Service100,000

1010 Fund Balance With Treasury 100,000

TC

C132

3. To record the refund of funds that were obligated and disbursed in a previous year. The 

refund is reflected on the SF 224: Statement of Transactions against the special fund 

expenditure account (14X5123). At year-end, the amount of this refund is to be reclassified 

as “Receipts Unavailable for Obligation Upon Collection,” due to the nature of the special 

fund.

Budgetary

4972 Downward Adjustments of Prior-Year Paid Delivered Orders –

Obligations, Refunds Collected 15,000

4450 Unapportioned Authority 15,000

Proprietary

1010 Fund Balance With Treasury 15,000

6100 Operating Expenses/Program Costs 15,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

17

TC

A139

TC

B124

4. The authority in transaction #3 is immediately withdrawn. The funds, however, are 

invested in U.S. Treasury securities.

4A. To record the withdrawal of authority.

Budgetary

4450 Unapportioned Authority 15,000

4399 Special and Trust Fund Refunds and Recoveries

Temporarily Precluded from Obligation 15,000

Proprietary

None

4B. To record the investment in Federal securities acquired at par value.

Budgetary

None

Proprietary

1610 Investments in U.S. Treasury Securities Issued by Fiscal Service 15,000

1010 Fund Balance With Treasury 15,000

TC

D110

5. To record a downward adjustment (recovery) to prior-year unpaid expended authority and 

reduce the related liability. NOTE: At year-end, the amount of this recovery is to be 

reclassified as “Receipts and Appropriations Temporarily Precluded From Obligation,” due 

to an obligational limitation written in the law.

Budgetary

4971 Downward Adjustments of Prior-Year Unpaid Delivered Orders –

Obligations, Recoveries 4,000

4450 Unapportioned Authority 4,000

Proprietary

2110 Accounts Payable 4,000

6100 Operating Expenses/Program Costs 4,000

TC

A139

6. The authority in transaction #5 is immediately withdrawn. 

Budgetary

4450 Unapportioned Authority 4,000

4399 Special and Trust Fund Refunds and Recoveries

Temporarily Precluded from Obligation 4,000

Proprietary

None
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

18

SECTION II: Year A

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

BUDGETARY Closing Entries, Trial Balances

Pre-closing Adjusted Trial Balance

(FACTS II submission)

4114 100,000

4201 4,000

4399 19,000

4394 100,000

4901 4,000

4971 4,000

4972 15,000

123,000 123,000

TC

F204

TC

F216

TC

F220

TC

F245

Closing Entries

C1) To record the consolidation of actual net-funded resources.

4201 Total Actual Resources - Collected 100,000

4114 Appropriated Trust or Special Fund Receipts 100,000

C2) To record the closing of related adjustments to Expended Authority – Paid when there is a 

net downward adjustment.

4201 Total Actual Resources – Collected 15,000

4972 Downward Adjustments of Prior-Year Paid Delivered

Orders – Obligations, Refunds Collected 15,000

C3) To record the closing of Downward Adjustments and Delivered Orders - Obligations 

Transferred - Unpaid to Expended Authority - Unpaid.

4901 Delivered Orders - Obligations, Unpaid 4,000

4971 Downward Adjustments of Prior-Year Unpaid Delivered Orders -

Obligations, Recoveries 4,000

C4) To record the closing of authority withdrawn in a trust or special fund to the appropriate 

status account.2

4399 Special and Trust Fund Refunds and Recoveries

Temporarily Precluded from Obligation 15,000

4394 Receipts Unavailable for Obligation Upon Collection 15,000

and

To record the closing of authority withdrawn in a trust or special fund to receipts 

unavailable for obligation upon collection.

4399 Special and Trust Fund Refunds and Recoveries

Temporarily Precluded from Obligation 4,000

4397 Receipts and Appropriations Temporarily Precluded

From Obligation 4,000

 2 It is extremely rare that both USSGL 4394 and 4397 will be recorded within the same TAFS. It is shown in this 

scenario for illustrative purposes ONLY. Note that use of USSGL 4399 requires prior OMB approval.
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

19

Post-Closing Trial Balance

4201 119,000

4394 115,000

4397 4,000

119,000 119,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

20

SECTION II: Year A

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

PROPRIETARY Closing Entries, Trial Balances

Pre-closing Trial Balance

(FACTS I submission)

1610 119,000

5900 100,000

6100 19,000

119,000 119,000

TC

F228

Closing Entries

C1) To record the closing of revenue and expense accounts to cumulative results of operations.

5900 Other Revenue 100,000

6100 Operating Expenses/Program Costs 19,000

3310 Cumulative Results of Operations 119,000

Post-Closing Trial Balance

1610 119,000

3310 119,000

119,000 119,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

21

SECTION II: Year A

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

SF 133: Report on Budget Execution and Budgetary Resources

1A. Budget Authority: Appropriations Received (4114E, 4394E-B) 0

3A1. Spending Authority From Offsetting Collections: Collected (4972E) 15,000

4A. Recoveries of Prior Year Obligations: Actual (4971E) 4,000

5. Temporarily Not Available Pursuant to Public Law (-) (4399E) (19,000)

7. Total Budgetary Resources (calculation 1..6) 0

11. Total Status of Budgetary Resources (calculation 8..10) 0

12. Obligated Balance, Net, Beginning of Period (4901B) 4,000

14D. Accounts Payable (+) (4901E, 4971E) 0

15B. Outlays: Collections (-) (4972E) (15,000)

USSGL 2108: Year-End Closing Statement

Column 2 Preclosing Unexpended Balance – Treasury Supplied 0

Column 4 Unobligated and Obligated Balance Withdrawn/Canceled 0

Column 5 Postclosing Unexpended Balance (1010E) 0

Column 6 Other Authorizations (1610E) 115,000

Column 10 Accounts Payable and Other Liabilities (4971E) (4,000)

Column 11 Unobligated Balance (4394E, 4399E) 119,000

FACTS II Edit Checks:

Column 2 +/- 4 = 5

Column 5+6+7+8 = 9+10+11
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

22

SECTION II: Year A

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

Budget Program and Financing (P&F) Schedule

OBLIGATIONS BY PROGRAM ACTIVITY

1000 Total new obligations (+) 0

BUDGETARY RESOURCES AVAILABLE FOR OBLIGATION

2140 Unobligated balance carried forward, start of year 0

2200 New budget authority (gross) (+) (sum 4000 to 6990) 15,000

2210 Resources available from recoveries of prior year obs (+) (4971E) 4,000

2395 Total new obligations (-) (from line 1000) 0

2398 Unobligated balance expiring or withdrawn (-) (4399E) (19,000) 

2440 Unobligated balance carried forward, end of year 0

NEW BUDGET AUTHORITY (GROSS), DETAIL

6020 Appropriation (special fund) (+) (4114E, 4394E-B) 0

6900 Spending authority from offsetting collections (cash) (+) (4972E) 15,000

7000 Total new budget authority (gross) (-) (sum 4000 to 6990) 15,000

CHANGE IN OBLIGATED BALANCES

7240 Obligated balance, start of year (+) (4901B) 4,000

7345 Recoveries of prior year obligations (-) (same as 2210, opp sign) (4,000)

7440 Obligated balance, end of year (+) (4901E, 4971E) 0

OFFSETS

8800 Offsetting collections from Federal sources (-) (4972E) (15,000)

NET BUDGET AUTHORITY AND OUTLAYS

8900 Budget authority (net) (+) (sum 2200 and 8800 to 8896) 0

9000 Outlays (net) (+) (sum 8700 and 8800 to 8845) (15,000)

MEMORANDUM (NON-ADD) ENTRIES

9201 Total investments, start of year: Federal securities: Par value (+) (1610B) 0

9202 Total investments, end of year: Federal securities: Par value (+) (1610E) 115,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

23

SECTION II: Year A

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

OMB Form and Content Statements

Balance Sheet

Intragovernmental Assets

1. Fund Balance With Treasury 0

2. Investments (1610E) 115,000

3. Accounts Receivable 0

6. Total Intragovernmental Assets (calculation 1..5) 115,000

15. Total Assets (calculation 6..14) 115,000

Intragovernmental Liabilities

16. Accounts Payable (2110E) (4,000)

19. Total Intragovernmental Liabilities (calculation 16..18) 0

27. Total Liabilities (calculation 19..26) (4,000)

Net Position

29. Unexpended Appropriations 0

30. Cumulative Results of Operations (3310E) 119,000

31. Total Net Position (calculation 29+30) 119,000

32. Total Liabilities/Net Position (calculation 27+31) 115,000

Statement of Net Cost

Intragovernmental Gross Costs

1. Intragovernmental 0

2. Less: Intragovernmental Earned Revenues 0

3. Intragovernmental Net Costs (calculation 1-2) 0

Gross Costs With the Public

4. With the Public (6100N) (19,000)

5. Less: Earned Revenues 0

6. Net Costs With the Public (calculation 4-5) (19,000) 

7. Total Net Costs (calculation 3+6) (19,000)

10. Net Cost of Operations (calculation 7+8-9) (19,000)
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

24

SECTION II: Year A

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

OMB Form and Content Statements (continued)

Statement of Changes in Net Position

Cum Res of Ops Unexp Approps

1. Beginning Balances (3310B)

3. Prior Period Adjustments

3. Beginning Balances, As Adjusted (calculation 1..2)

Budgetary Financing Sources

4. Appropriations Received 0

7. Appropriations Used 0 0

8. Non-Exchange Revenue (5900N) 100,000

16. Total Financing Sources (calculation 6..15) 100,000 0

18. Net Cost of Operations (19,000)

18. Ending Balances (calculation ((3+16)-17)) 119,000 0

Statement of Budgetary Resources

1A. Budget Authority: Appropriations Received (4114E, 4394E-B) 0

3A1. Spending Authority From Offsetting Collections: Collected (4972E) 15,000

4A. Recoveries of Prior Year Obligations: Actual (4971E) 4,000

5. Temporarily Not Available Pursuant to Public Law (-) (4399E) (19,000)

7. Total Budgetary Resources (calculation 1..6) 0

11. Total Status of Budgetary Resources (calculation 8..10) 0

12. Obligated Balance, Net, Beginning of Period (4901B) 4,000

14D. Accounts Payable (+) (4901E, 4971E) 0

15B. Outlays: Collections (-) (4972E) (15,000)

15C. Subtotal (calculation 15A..15B) (15,000)

 

17. Net Outlays (calculation 15C-16) (15,000)

Statement of Financing

1. Obligations Incurred 0

2. Less: Spending Authority From Offsetting Collections and Recoveries (4971E, 4972E) (19,000)

3. Obligations Net of Offsetting Collections and Recoveries (calculation 1-2) (19,000)

4. Less: Offsetting Receipts 0

5. Net Obligations (calculation 3-4) (19,000)

11. Total Resources Used to Finance Activities (calculation 5+10) (19,000)

12. Change in Budgetary Resources 0

16. Other Resources or Adjustments to Net Obligated Results That Do Not

 Affect Net Cost of Operations 0

17. Total Resources Used to Finance Items Not Part of

 Net Cost of Operations (calculation 12..16) 0

18. Total Resources Used to Finance the Net Cost of Operations (calculation 11-17) (19,000)

30. Net Cost of Operations (calculation 18+29) (19,000)
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

25

SECTION II: Year B

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

Beginning Trial Balances

Budgetary

4201 119,000

4394 115,000

4397 4,000

119,000 119,000

Proprietary

1610 119,000

3310 119,000

119,000 119,000

TC

A190

1. To record receipts from previous year that now become available for obligation.

Budgetary

4394 Downward Adjustments of Prior-Year Unpaid Delivered Orders –

Obligations, Recoveries 100,000

4450 Unapportioned Authority 100,000

Proprietary

None

TC

A192

TC

A116,

B107

TC

C120

2A. To record authority made available from receipt or appropriation balances previously 

precluded from obligation, in order to cover expenditure and disbursement of funds in 

transaction 2B.

Budgetary Entry

Debit 4157 Authority Made Available From Receipt or Appropriation Balances Previously 

Precluded From Obligation 4,000

Credit 4450 Unapportioned Authority 4,000

Proprietary Entry

None

2B. To record apportionment, expenditure and disbursement of funds. Prior to disbursement, 

investments must be redeemed.

Budgetary Entry

Debit 4450 Unapportioned Authority 104,000

Credit 4902 Delivered Orders - Obligations, Paid 104,000

Proprietary Entry

To record the maturity of Federal securities acquired at par value:

Debit 1010 Fund Balance With Treasury 104,000

Credit 1610 Investments in U.S. Treasury Securities Issued by

 the Bureau of the Fiscal Service 104,000

and

To record the disbursement of funds:

Debit 6100 Operating Expenses/Program Costs 104,000

Credit 1010 Fund Balance With Treasury 104,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

26

SECTION II: Year B

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

BUDGETARY Closing Entries, Trial Balances

Pre-closing Adjusted Trial Balance

(FACTS II submission)

4157 4,000

4201 119,000

4394 15,000

4397 4,000

4902 104,000

123,000 123,000

TC

F214

TC

F215

Closing Entries

C1) To record the closing of Expended Authority - Paid.

4902 Delivered Orders - Obligations, Paid 104,000

4201 Total Actual Resources – Collected 104,000

C2) To record the closing of authority made available from balances previously precluded from 

obligation to authority temporarily precluded from obligation.

4397 Receipts and Appropriations Temporarily Precluded

From Obligation 4,000

4157 Authority Made Available From Receipt or Appropriation

Balances Previously Precluded From Obligation 4,000

Post-Closing Trial Balance

4201 15,000

4394 15,000

15,000 15,000

PROPRIETARY Closing Entries, Trial Balances

Pre-closing Trial Balance

(FACTS I submission)

1610 15,000

3310 119,000

6100 104,000

119,000 119,000

TC

F228

Closing Entries

C1) To record the closing of expense accounts to cumulative results of operations.

3310 Cumulative Results of Operations 104,000

6100 Operating Expenses/Program Costs 104,000

Post-Closing Trial Balance

1610 15,000

3310 15,000

15,000 15,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

27

SECTION II: Year B

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

SF 133: Report on Budget Execution and Budgetary Resources

1A. Budget Authority: Appropriations Received (4157E, 4394E-B) 104,000

2A. Unobligated Balance: Beginning of Period (4201B, 4394B, 4397B) 0

5. Temporarily Not Available Pursuant to Public Law (-) (4397E-B) 0

7. Total Budgetary Resources (calculation 1..6) 104,000

8. Obligations Incurred (4902E) 104,000

11. Total Status of Budgetary Resources (calculation 8..10) 104,000

15A. Outlays: Disbursements (+) (4902E) 104,000

USSGL 2108: Year-End Closing Statement

Column 2 Preclosing Unexpended Balance – Treasury Supplied 0

Column 4 Unobligated and Obligated Balance Withdrawn/Canceled 0

Column 5 Postclosing Unexpended Balance (1010E) 0

Column 6 Other Authorizations (1610E) 15,000

Column 11 Unobligated Balance (4157E, 4394E, 4397E) 15,000

FACTS II Edit Checks:

Column 2 +/- 4 = 5

Column 5+6+7+8 = 9+10+11
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

28

SECTION II: Year B

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

Budget Program and Financing (P&F) Schedule

OBLIGATIONS BY PROGRAM ACTIVITY

1000 Total new obligations (+) (4902E) 104,000

BUDGETARY RESOURCES AVAILABLE FOR OBLIGATION

2140 Unobligated balance carried forward, start of year (4201B, 4394B, 4397B) 0

2200 New budget authority (gross) (+) (sum 4000 to 6990) 104,000

2395 Total new obligations (-) (from line 1000) (104,000)

2398 Unobligated balance expiring or withdrawn (-) (4399E) 0

2440 Unobligated balance carried forward, end of year 0

NEW BUDGET AUTHORITY (GROSS), DETAIL

6020 Appropriation (special fund) (+) (4394E-B) 100,000

6028 Appropriation (unavailable balances) (+) (4157E) 4,000

6250 Appropriation (total mandatory) (+) (sum 6000..6200) 104,000

CHANGE IN OBLIGATED BALANCES

7240 Obligated balance, start of year (+) 0

7310 Total new obligations (+) (same as line 1000) 104,000

7320 Total outlays (gross) (-) (4902E) (104,000)

7440 Obligated balance, end of year (+) 0

OUTLAYS (GROSS), DETAIL

8698 Outlays from mandatory balances (+) (4902E) 104,000

8700 Total outlays (gross) (+) (calc 8690..8698) 104,000

OFFSETS

8800 Offsetting collections from Federal sources (-) 0

NET BUDGET AUTHORITY AND OUTLAYS

8900 Budget authority (net) (+) (sum 2200 and 8800 to 8896) 104,000

9000 Outlays (net) (+) (sum 8700 and 8800 to 8845) 104,000

MEMORANDUM (NON-ADD) ENTRIES

9201 Total investments, start of year: Federal securities: Par value (+) (1610B) 119,000

9202 Total investments, end of year: Federal securities: Par value (+) (1610E) 11,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

29

SECTION II: Year B

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation 

OMB Form and Content Statements

Balance Sheet

Intragovernmental Assets

1. Fund Balance With Treasury 0

2. Investments (1610E) 15,000

3. Accounts Receivable 0

6. Total Intragovernmental Assets (calculation 1..5) 15,000

15. Total Assets (calculation 6..14) 15,000

Intragovernmental Liabilities

16. Accounts Payable 0

19. Total Intragovernmental Liabilities (calculation 16..18) 0

27. Total Liabilities (calculation 19..26) 0

Net Position

29. Unexpended Appropriations 0

30. Cumulative Results of Operations (3310E) 15,000

31. Total Net Position (calculation 29+30) 15,000

32. Total Liabilities/Net Position (calculation 27+31) 15,000

Statement of Net Cost

Intragovernmental Gross Costs

1. Intragovernmental 0

2. Less: Intragovernmental Earned Revenues 0

3. Intragovernmental Net Costs (calculation 1-2) 0

Gross Costs With the Public

4. With the Public 104,000

5. Less: Earned Revenues 0

6. Net Costs With the Public (calculation 4-5) 0 

7. Total Net Costs (calculation 3+6) 0

10. Net Cost of Operations (calculation 7+8-9) 104,000
Trust or Special Fund Refunds and Recoveries of Prior-Year Obligations

Effective Fiscal 2003 (Available for Early Implementation 4th Quarter 2002)

Revised May 2003 to include "recoveries” September 2002

30

SECTION II: Year B

Special Fund 14X5321 - Available for Investment and Unavailable for Obligation

OMB Form and Content Statements 

Statement of Changes in Net Position

Cum Res of Ops Unexp Approps

1. Beginning Balances (3310B) 119,000

2. Prior Period Adjustments

3. Beginning Balances, As Adjusted (calculation 1..2) 119,000

Budgetary Financing Sources

4. Appropriations Received 0

7. Appropriations Used 0 0

8. Non-Exchange Revenue 0

16. Total Financing Sources (calculation 6..15) 0 0

17. Net Cost of Operations 104,000 0

18. Ending Balances (calculation ((3+16)-17)) 15,000 0

Statement of Budgetary Resources

1A. Budget Authority: Appropriations Received (4157E, 4394E-B) 104,000

2A. Unobligated Balance: Beginning of Period (4201B, 4394B, 4397B) 0

5. Temporarily Not Available Pursuant to Public Law (-) (4397E-B) 0

7. Total Budgetary Resources (calculation 1..6) 104,000

8. Obligations Incurred (4902E) 104,000

11. Total Status of Budgetary Resources (calculation 8..10) 104,000

15A. Outlays: Disbursements (+) (4902E) 104,000

15C. Subtotal (calculation 15A..15B) 104,000

17. Net Outlays (calculation 15C-16) 104,000

Statement of Financing

1. Obligations Incurred (4902E) 104,000

2. Less: Spending Authority From Offsetting Collections and Recoveries (0)

3. Obligations Net of Offsetting Collections and Recoveries (calculation 1-2) 104,000

4. Less: Offsetting Receipts 0

5. Net Obligations (calculation 3-4) 104,000

11. Total Resources Used to Finance Activities (calculation 5+10) 104,000

12. Change in Budgetary Resources 0

16. Other Resources or Adjustments to Net Obligated Resources That Do Not

 Affect Net Cost of Operations 0

17. Total Resources Used to Finance Items Not Part of

 Net Cost of Operations (calculation 12..16) 0

18. Total Resources Used to Finance the Net Cost of Operations (calculation 11-17) 104,000

30. Net Cost of Operations (calculation 18+29) 104,000