OFFICE OF INSPECTOR GENERAL 

Catalyst for Improving the Environment 

Quick Reaction Report 

Agreed-Upon Procedures on 

EPA’s Fiscal Year 2008 

First Quarter Financial Statements 

 Report No. 08-2-0142 

 April 28, 2008 
Report Contributors:	 Paul Curtis 

Meg Bastin 

 Denise Patten

 Demetrios Papakonstantinou 

 Javier Negron 

Abbreviations 

EPA U.S. Environmental Protection Agency 

FY Fiscal Year 

GL General Ledger 

IFMS Integrated Financial Management System 

OIG Office of Inspector General 

OMB Office of Management and Budget 

RGLTS Report of General Ledger Balance by Treasury Symbol 

SFFAS Statement of Federal Financial Accounting Standards 

USSGL United States Standard General Ledger 

YACT Year End Account Table 
U.S. Environmental Protection Agency 08-2-0142 

April 28, 2008 Office of Inspector General 

At a Glance 

Catalyst for Improving the Environment 

Why We Performed These 

Agreed-Upon Procedures 

We performed agreed-upon 

procedures on the U.S. 

Environmental Protection 

Agency (EPA) Fiscal Year 

(FY) 2008 first quarter 

Financial Statements. We did 

so to assist EPA in evaluating 

whether its quarterly Financial 

Statements were compiled 

consistent with the Treasury 

Standard General Ledger 

Crosswalk, and to identify 

significant fluctuations in 

financial line balances from 

the previous year. 

Background 

Agencies submit unaudited 

interim Financial Statements 

to the Office of Management 

and Budget 21 days after the 

end of each of the first three 

quarters of the fiscal year. 

Agencies should include 

management’s explanation of 

significant variances in types 

of assets, liabilities, costs, 

revenues, obligations, and 

outlays, along with the 

submitted statements. 

For further information, 

contact our Office of 

Congressional and Public 

Liaison at (202) 566-2391. 

To view the full report, 

click on the following link: 

www.epa.gov/oig/reports/2008/ 

20080428-08-2-0142.pdf 

Agreed-Upon Procedures on EPA’s Fiscal Year 2008 

First Quarter Financial Statements

 What We Found

 Below are the results of our performing the agreed-upon procedures: 

•	 The Financial Statements generated by the Office of Inspector General (OIG) 

agreed with EPA’s FY 2008 first quarter Financial Statements for the 

Consolidated Balance Sheet, Consolidated Statements of Net Cost and 

Changes in Net Position, Combined Statement of Budgetary Resources and 

Statement of Custodial Activity, Statement of Changes in Net Position for 

Earmarked Funds, and Consolidated Statement of Net Cost by Goal. 

•	 We found differences between the ending balances for the FY 2008 

ProSystem prepared adjusted trial balance and EPA’s prepared trial balance. 

The differences stemmed from an adjustment done by the Department of 

Health and Human Services at the end of FY 2007 that was either not sent to 

or received by the Agency. 

•	 EPA’s Financial Statement Preparation Guide for the FY 2008 Financial 

Statements complies with Office of Management and Budget Circular A-136 

in its entirety. We identified three items that should be updated. 

•	 We identified two differences between EPA’s Financial Statement Crosswalk 

and the Treasury United States Standard General Ledger Crosswalk guidance. 

There is no financial impact from these differences. 

•	 EPA’s FY 2007 post-closing instructions do not agree with EPA’s Year End 

Closing Table and Treasury’s Closing Instructions. 

•	 The reversal process did not follow the Agency’s Financial Statement 

Preparation Guide for the FY 2008 first quarter Financial Statements. 

The agreed-upon procedures do not constitute an audit of the quarterly Financial 

Statements or any part thereof, the objective of which would be the expression of 

an opinion on the quarterly Financial Statements or any part thereof. 
UNITED STATES ENVIRONMENTAL PROTECTION AGENCY 

WASHINGTON, D.C. 20460 

OFFICE OF 

INSPECTOR GENERAL 

April 28, 2008 

MEMORANDUM 

SUBJECT:	 Agreed-Upon Procedures on EPA’s Fiscal Year 2008 

First Quarter Financial Statements 

Report No. 08-2-0142 

FROM:	 Paul C. Curtis 

Director, Financial Statement Audits 

TO:	 Lyons Gray 

 Chief Financial Officer 

This Agreed-Upon Procedures Report on the U.S. Environmental Protection Agency’s (EPA’s) 

Fiscal Year 2008 First Quarter Financial Statements was conducted by the EPA Office of 

Inspector General at your request. This report is provided to you solely to assist you in 

evaluating whether the Fiscal Year 2008 first quarter Financial Statements were compiled 

consistent with the Treasury United States Standard General Ledger Crosswalk, and to identify 

significant fluctuations in financial line balances from the previous year. 

Our report is intended solely for your information and use and should not be used by those who 

have not agreed to the procedures or taken responsibility for the sufficiency of the procedures for 

their purposes. No written response to this report is required. 

If you have any questions, please do not hesitate to contact me at 202-566-2523 or 

curtis.paul@epa.gov, or Meg Bastin at 513-487-2366 or bastin.margaret@epa.gov. 
Agreed-Upon Procedures on EPA’s Fiscal Year 2008 

First Quarter Financial Statements 

Table of Contents 

Purpose........................................................................................................................... 1 

Background .................................................................................................................... 1 

Scope and Methodology ............................................................................................... 1 

Results of Agreed-Upon Procedures ........................................................................... 2 

Status of Recommendations and Potential Monetary Benefits................................. 8 

Appendices 

A Significant Fluctuations between 12/31/07 and 12/31/06................................ 9 

B FY 2007 On-Top Entries Not Reversed in 2008 

in Accordance with EPA Policy ........................................................................ 11 

C Distribution ......................................................................................................... 16 
Purpose 

We performed these agreed-upon procedures at the request of the Office of the Chief Financial 

Officer. We did so to assist the U.S. Environmental Protection Agency (EPA) in evaluating 

whether its Fiscal Year (FY) 2008 first quarter Financial Statements were compiled consistent 

with the Treasury United States Standard General Ledger (USSGL) Crosswalk, and to identify 

significant fluctuations in financial line balances from the previous year. 

Background 

According to Office of Management and Budget (OMB) Circular A-136, interim unaudited 

Financial Statements, without notes, are required on a quarterly basis. Agencies submit 

unaudited interim Financial Statements to OMB 21 days after the end of each of the first three 

quarters of the fiscal year. Agencies should include management’s explanation of significant 

variances in types or amounts of assets, liabilities, costs, revenues, obligations, and outlays, 

along with the submitted statements. 

Scope and Methodology 

We performed certain agreed-upon procedures, enumerated below, on EPA’s unaudited 

consolidated FY 2008 first quarter Financial Statements, to assist the Office of the Chief 

Financial Officer in evaluating whether the quarterly Financial Statements were compiled 

consistent with Treasury’s USSGL Crosswalk and to identify significant fluctuations in financial 

line balances from the previous year. 

The adequacy of these procedures is the Office of the Chief Financial Officer’s responsibility. 

Consequently, we make no representation regarding the sufficiency of the procedures. The 

agreed-upon procedures do not constitute an audit of the quarterly Financial Statements or any 

part thereof, the objective of which would be the expression of an opinion on the quarterly 

Financial Statements or any part thereof. Accordingly, we do not express such an opinion. Were 

we to perform additional procedures, other matters might come to our attention that we would 

report to assist the Office of the Chief Financial Officer. 

This agreed-upon procedures engagement was conducted using applicable generally accepted 

government auditing standards, which incorporate attestation standards issued by the American 

Institute of Certified Public Accountants. These standards provide guidance for performing and 

reporting the results of agreed-upon procedures. 

We performed the agreed-upon procedures from February 14 to March 6, 2008. We based our 

procedures on EPA’s first quarter Financial Statements and supporting schedules, general ledger 

balances, and manual on-top adjustments. 

1 
Results of Agreed-Upon Procedures 

Procedure 1: 

Obtain EPA’s quarterly Financial Statements, adjusted trial balance, on-top entries, and support 

for the statements (including Earmarked Funds). Import the Report of General Ledger Balance 

by Treasury Symbol (RGLTS) and enter the Agency’s on-top entries into ProSystem and 

generate an adjusted trial balance, Consolidated Balance Sheet, and Consolidated Statements of 

Net Cost and Changes in Net Position. 

Results of Procedure 1 

We obtained EPA’s first quarter Financial Statements, adjusted trial balance, on-top 

entries, and support for the statements (including Earmarked Funds). We imported the 

RGLTS and entered the Agency’s on-tops and adjustments to beginning balances into 

ProSystem to generate an adjusted trail balance, Consolidated Balance Sheet, and 

Consolidated Statements of Net Cost and Changes in Net Position. We compared the 

Agency's prepared statements to ProSystem generated adjusted trial balance, 

Consolidated Balance Sheet, and Consolidated Statements of Net Cost and Changes in 

Net Position, and our prepared Combined Statement of Budgetary Resources and 

Statement of Custodial Activity. Below are further specifics on the procedures 

performed and the results of each procedure. 

Procedure 1.a 

Compare the ProSystem adjusted trial balance to the Agency’s adjusted trial balance and note 

any differences. 

Results of Procedure 1.a 

We compared the Agency's prepared adjusted trial balance to the ProSystem generated 

adjusted trial balance. We found differences between the FY 2008 ProSystem prepared 

and the Agency prepared adjusted trial balance. General Ledger (GL) account 3310 was 

overstated and account 61FE understated by 226,243.41. GL 3310 has a difference of 

$226,243.41 and account 61FE a difference of ($226,243.41). The Agency stated “the 

adjustment was necessary due to an adjustment done by the Department of Health and 

Human Services at the end of FY 2007, that we did not receive or was sent but missed. 

Once the support is received, the adjustment will be moved to general ledger account 

522P.” The Agency also stated there will be a reclassification budgetary entry for the 

second quarter (GL accounts 4801/4802 for $1,530,675.85). 

2 
Procedure 1.b 

Compare the ProSystem generated Financial Statements to EPA’s Financial Statements and note 

any differences. 

Results of Procedure 1.b 

We compared the ProSystem generated Financial Statements to EPA’s Financial 

Statements (Consolidated Balance Sheet and Consolidated Statements of Net Cost and 

Net Position) and found no differences. 

Procedure 1.c 

Enter the FY 2008 and 2007 balances and on-top entries into Excel spreadsheets. Prepare the 

Combined Statement of Budgetary Resources and Statement of Custodial Activity and compare 

to the Agency’s statements and note any differences. 

Results of Procedure 1.c 

We entered the FY 2008 and 2007 balances and on-top entries into Excel spreadsheets, 

and prepared and compared the Combined Statement of Budgetary Resources and 

Statement of Custodial Activity to the Agency’s statements. The balances agreed. 

Procedure 1.d 

Extract general ledger ending balances from the RGLTS for Earmarked Funds using IDEA and 

enter into ProSystem. Enter on-top entries and generate a Consolidated Statement of Changes in 

Net Position for Earmarked Funds and compare to EPA’s Consolidated Statement of Changes in 

Net Position for Earmarked Funds. 

Results of Procedure 1.d 

We extracted general ledger ending balances from the RGLTS for Earmarked Funds, 

generated a Consolidated Statement of Changes in Net Position for Earmarked Funds, 

and compared it to EPA’s Statement of Changes in Net Position for Earmarked Funds. 

The balances agreed. 

Procedure 1.e 

Compare the Consolidated Statement of Net Cost by Goal and compare to the Consolidated 

Statement of Net Cost and note any differences. 

Results of Procedure 1.e 

We compared the Consolidated Statement of Net Cost by Goal to the Consolidated 

Statement of Net Cost. The totals of both statements agreed. 

3 
Procedure 1.f 

Mathematically verify the Consolidated All Other column in the Agency's Financial Statement. 

Results of Procedure 1.f 

We mathematically verified the Consolidated All Other column in the Agency's Financial 

Statements. 

Procedure 1.g 

Identify significant fluctuations in balances by comparing current year balances to prior year 

balances. (Criteria - Percentage change of 10 percent or more and dollar change exceeding 

$50 million.) 

Results of Procedure 1.g 

We identified significant fluctuations in the Consolidated Balance Sheet, Consolidated 

Statement of Net Cost, Consolidated Statement of Changes in Net Position, and 

Combined Statement of Budgetary Resources. See Appendix A for details on 

fluctuations. In addition, we verified that the OIG variances agreed with Agencyidentified fluctuations submitted to OMB. 

Procedure 2 

Obtain and compare EPA’s Financial Statement Preparation Guide for the FY 2008 Financial 

Statements to OMB Circular A-136 for compliance and note any differences. 

Results of Procedure 2 

We obtained and compared EPA’s Financial Statement Preparation Guide for the 

FY 2008 Financial Statements to OMB Circular A-136 for compliance. We found that 

the guide complies with OMB Circular A-136 in its entirety. However, we identified 

three items that should be updated in the guide. 

Table 1: Comparison of EPA’s FY 2008 Financial Statement Preparation Guide to OMB Circular A-136 

Section 

EPA Financial Statement Preparation 

Guide Instructions OIG Comments to Update 

1st Paragraph See attachment J for instructions on 

downloading the file. 

Attachment J is not the instructions on 

downloading the file. Instructions are in 

Attachment I. 

2nd Paragraph The adjustments are prepared by the 

Office of Financial Management, 

Research and Analysis Staff. 

Should be Reporting and Analysis Staff. 

8.b Repeat steps 7.a.i. through 7.a.iv. Steps to repeat are 8.a.i through 8.a.iv. 

Source: OIG analysis of EPA data and OMB requirements. 

4 
Procedure 3 

Obtain and compare EPA’s Financial Statement Crosswalk to Treasury’s USSGL Crosswalk and 

note any differences. 

Results of Procedure 3 

We obtained and compared EPA’s Financial Statement Crosswalk to Treasury’s USSGL 

Crosswalk and found that they did not agree. 

Statement of Budgetary Resources, Section 8A: The Agency uses the difference 

between the beginning balance and ending balance in GL account 4211 to identify direct 

obligations incurred. According to Treasury, the amount that should be used is the 

ending balance of GL account 4201 (GL account 4211 closes to 4201). The ending 

balance for GL account 4211 has been zero for the past several years; accordingly, there 

is no current impact. 

Procedure 4 

Obtain and compare EPA’s FY 2007 post-closing instructions to EPA’s Year End Account Table 

(YACT) and Treasury’s Closing Instructions and note any differences. 

Results of Procedure 4 

We obtained and compared EPA’s FY 2007 post-closing instructions to EPA’s YACT 

table and Treasury’s Closing Instructions. We found: 

•	 EPA’s Year End Closing Instructions are not consistent with the EPA YACT table for 

accounts 4382, 4383, and 4384 (column 1 in Table 2 below). 

•	 There are discrepancies between the EPA Closing Instructions and Treasury guidance 

for accounts 4123, 4124, 4168, 4382, 4383, and 4384 (column 2 in Table 2 below). 

•	 There are discrepancies between the EPA YACT table and Treasury instructions for 

accounts 4123, 4124, 4168, 4382, 4383, and 4384 (column 3 in Table 2 below). 

Table 2: Comparison of EPA’s FY 2007 Post-Closing Instructions to EPA’s YACT Table and 

Treasury’s Closing Instructions 

EPA GL 

Account 

Per EPA’s 2007 Post Closing 

Instructions EPA’s GL 

Account Should Close to: 

(1) 

Per EPA’s YACT Table 

EPA’s GL Account 

Should Close to: 

(2) 

Per Treasury 

EPA’s GL Account 

Should Close to: 

(3) 

4123 4201 4201 4357, 4382, 4386 

4124 4201 4201 4384 

4168 4168 4168 4382, 4383, 4384 

4382 4384 4168 4384, 4168, 4123 

4383 4384 4168 4384, 4168, 4123 

4384 4384 4201 Remains Open 

Source: OIG analysis of EPA data and Treasury requirements. 

5 
Procedure 5 

Obtain and compare EPA’s identified Earmark Treasury Symbols to Federal Accounting 

Advisory Board Statement of Federal Financial Accounting Standards (SFFAS) 27 for 

compliance. 

Results of Procedure 5 

We obtained and compared EPA’s identified Earmark Treasury Symbols to SFFAS 27 

for compliance. We found EPA's treasury symbols to be in compliance with SFFAS 27. 

Procedure 6 

Obtain and compare FY 2008 and 2007 Child Trial Balances to the Child on-top entry. 

Results of Procedure 6 

We obtained and compared EPA’s FY 2008 and 2007 Child Trial Balances to the Child 

on-top entry. We found that the FY 2008 first quarter child trial balance support agrees 

with the FY 2008 first quarter child on-top entry. We could not compare the FY 2007 

first quarter child balances because child balances were not reported until the second 

quarter in FY 2007. 

Procedure 7 

Compare the FY 2008 reversal to the FY 2007 on-top adjustments and EPA’s Closing 

Instructions to assess if EPA followed their guidance. 

Results of Procedure 7 

We compared the FY 2008 reversal to the FY 2007 on-top adjustments and to EPA’s 

closing instructions to assess if EPA followed its guidance. EPA did not follow its 

closing instructions in reversing FY 2007 on-top adjustments. We found that 89 of the 

130 on-top adjustments recorded in FY 2007 were reversed appropriately in FY 2008. 

However, 41 of the FY 2007 on-top adjustments were not reversed according to the 

closing instructions based on type description. We did not make an independent 

evaluation of the on-top adjustments. We relied upon the Agency’s designation that 

identified the 41 FY 2007 on-top adjustments as type A, B, or D. Of the 41 FY 2007 

on-top adjustments that were not reversed, the Agency identified: 

• Thirty six as Type A. 

• One as Type B. 

• Four as Type D. 

The Agency's Financial Statement Preparation Guide states: “Reverse all Type A 

(corrections) and B (nominal statement adjustments) entries.” It also states: “Reverse 

6 
Type D (statement adjustments only) entries except for revenue/expense eliminations 

(e.g., 522F/61FN) and reclassification of expense entries that will not be posted in IFMS 

[Integrated Financial Management System] (e.g., reclassification of benefit expenses to 

6400 accounts).” See Appendix B for a list of entries that were not reversed. 

Procedure 8 

Compare the RGLTS FY 2008 beginning balances to the FY 2007 ending balances and note any 

differences. 

Results of Procedure 8 

We compared the RGLTS FY 2008 beginning balances to FY 2007 ending balances and 

found no differences. 

Procedure 9 

Examine elimination and consolidation entries prepared by the Reporting and Analysis Staff for 

reasonableness and completeness. 

Results of Procedure 9 

We examined the elimination and consolidation entries prepared by the Reporting and 

Analysis Staff and found that the FY 2008 on-top adjustments relating to elimination and 

consolidation entries were reasonable and complete. 

7 
Status of Recommendations and 

Potential Monetary Benefits 

POTENTIAL MONETARY 

RECOMMENDATIONS BENEFITS (in $000s) 

Planned 

Rec. Page Completion Claimed Agreed To 

No. No. Subject Status1 Action Official Date Amount Amount 

No recommendations 

1 O = recommendation is open with agreed-to corrective actions pending 

C = recommendation is closed with all agreed-to actions completed 

U = recommendation is undecided with resolution efforts in progress 

8 
Appendix A 

Significant Fluctuations between 12/31/07 and 12/31/06

(Dollars in Thousands) 

Consolidated Balance Sheet: 

Source: FY 2008 Financial Statements provided by EPA 

Consolidated Statement of Net Cost: 

COSTS FY 2008 FY 2007 Difference % 

Earned Revenue $113,829 $172,094 ($58,265) -33.86% 

Source: FY 2008 Financial Statements provided by EPA 

Consolidated Statement of Changes in Net Position: 

Source: FY 2008 Financial Statements provided by EPA 

9 
Consolidated Statement of Changes in Net Position - All Other Funds: 

Source: FY 2008 Financial Statements provided by EPA 

Consolidated Statement of Changes in Net Position - Earmarked Funds: 

Source: FY 2008 Financial Statements provided by EPA 

Combined Statement of Budgetary Resources: 

Source: FY 2008 Financial Statements provided by EPA 

10 
Appendix B 

FY 2007 On-Top Entries Not Reversed in 2008 

in Accordance with EPA Policy 

No. 

ENTRY 

NO TYPE FUND EXPLANATION 

To reverse IFMS closing error from 

1 57 A. Correction 103 FY 2005. 

To reverse correction of IFMS FY 2005 

2 58 A. Correction 107 closing error. 

To reverse correction of IFMS FY 2005 

3 59 A. Correction 108 closing error. 

To reverse correction of IFMS FY2005 

4 60 A. Correction 5374 closing error. 

To reverse correction of IFMS FY 2005 

5 61 A. Correction 8145 closing error. 

To reverse correction of IFMS FY 2005 

6 62 A. Correction 4322 closing error. 

To reclassify closing accounts which net 

7 63 A. Correction 4310 to zero. 

To reclassify closing accounts which net 

8 64 B. Normal Statement Adj. 8221 to zero. 

9 65 D. Statement only adj. 8153 To reclassify balances in 33CD to 3310. 

To correct error from FY 2005 in 

10 66 D. Statement only adj. 8153 20X8153.3. 

To reverse balance for IFMS closing 

error, incorrect posting to 2980 instead of 

11 67 A. Correction 8145 3310. 

To clear remaining anticipated balances 

for FY 2007 4th Quarter FACTS II 

12 68 A. Correction 108 reporting. 

11 
13 69 A. Correction 8145 

14 70 A. Correction 4311 

15 71 A. Correction 107 

16 73 A. Correction 8221 

17 76 A. Correction 5555 

18 79 A. Correction 108 

19 80 A. Correction 5555 

20 82 A. Correction 5374 

21 85 A. Correction 5374 

22 92 A. Correction 4322 

23 93 A. Correction 112 

To clear remaining anticipated balances 

for FY 2007 4th Quarter FACTS II 

reporting. 

To clear remaining anticipated balances 

for FY 2007 4th Quarter FACTS II 

reporting. 

To clear remaining anticipated balances 

for FY 2007 4th Quarter FACTS II 

reporting. 

To clear account 4384 in the Oil Spill 

program for FY 2007 4th Quarter FACTS 

II reporting. 

To move funds in 682753.3 to account 

that is part of "offsetting receipts" line on 

Statement of Budgetary Resources and 

Statement of Financing. For Statement 

purposes only. 

To correct differences between 

budgetary and proprietary accounts for 

cancelled treasury symbol 689/00108. 

To close out miscellaneous receipts at 

year-end. Funds are returned to 

Treasury. Miscellaneous receipts are 

closed as part of the IFMS Post-Closing 

process (See YACT Table). 

To clear remaining anticipated account. 

To clear balances in anticipated account 

4120. This corrects adjustment #82. 

To clear the remaining anticipated 

Treasury Symbol 68X4322 for 4th 

Quarter FACTS II reporting. 

To reclassify balances to recoveries for 

accounts in cancelled Treasury Symbols. 

During FY 2007, EPA deobligated MO 

documents which recorded a debit in 

4801/4803 and 465N or 465E. These 

balances should be recorded in SGL 

4871 as recoveries, also other reductions 

in obligations should be recoveries. 

12 
24 94 A. Correction 108 

25 95 A. Correction 107 

26 96 A. Correction OTHR 

97 A. Correction EARM 

27 98 A. Correction OTHR 

99 A. Correction EARM 

28 100 A. Correction ELIM 

29 106 A. Correction 8145 

30 109 A. Correction 8145 

To reclassify balances to recoveries for 

accounts in cancelled Treasury Symbols. 

During FY 2007, EPA deobligated MO 

documents which recorded a debit in 

4801/4803 and 465N or 465E. These 

balances should be recorded in SGL 

4871 as recoveries, also other reductions 

in obligations should be recoveries. 

To reclassify balances to recoveries for 

accounts in cancelled Treasury Symbols. 

During FY 2007, EPA deobligated MO 

documents which recorded a debit in 

4801/4803 and 465N or 465E. These 

balances should be recorded in SGL 

4871 as recoveries, also other reductions 

in obligations should be recoveries. 

To eliminate interagency transfers in and 

out between Superfund (Earmarked) and 

68X0250 (Other Funds) on the 

Statement of Net Position. 

To eliminate interagency transfers in and 

out between Superfund (Earmarked) and 

68X0250 (Other Funds) on the 

Statement of Net Position. 

To eliminate interagency expenditure 

transfers between Superfund 

(Earmarked) and Appropriated Funds. 

To eliminate interagency expenditure 

transfers between Superfund 

(Earmarked) and Appropriated Funds. 

To eliminate transfer balances between 

68X5374 and 68X5374.1. 

Entry to correct FY 2006 balances 

received from BPD for Superfund. 

To reclassify entries made in FY 2007 for 

the reduction in allowances for CNC 

receivables in FY 2006. Original entry 

was to 7401 but with the FY 2006 

restatement these balances will be 

reclassified to Beginning Balance, 

Cumulative Results (SGL 3310). 

13 
31 110 A. Correction 103 

32 111 A. Correction 107 

33 112 A. Correction 108 

34 113 A. Correction 8145 

35 114 A. Correction 5555 

36 115 A. Correction 5555 

37 116 A. Correction ELIM 

To reclassify entries made in FY 2007 for 

the reduction in allowances for CNC 

receivables in FY 2006. Original entry 

was to 7401 but with the FY 2006 

restatement these balances will be 

reclassified to Beginning Balance, 

Cumulative Results (SGL 3310). 

To reclassify entries made in FY 2007 for 

the reduction in allowances for CNC 

receivables in FY 2006. Original entry 

was to 7401 but with the FY 2006 

restatement these balances will be 

reclassified to Beginning Balance, 

Cumulative Results (SGL 3310). 

To reclassify entries made in FY 2007 for 

the reduction in allowances for CNC 

receivables in FY 2006. Original entry 

was to 7401 but with the FY 2006 

restatement these balances will be 

reclassified to Beginning Balance, 

Cumulative Results (SGL 3310). 

This entry is to reclassify the fines and 

penalties which were manually 

calculated for FY 2006 CNC receivables. 

These CNC receivables had been closed 

in IFMS during FY 2007. If these fines 

and penalties had been brought forward 

to FY 2007 the 672E would have been 

used to adjust allowance. 

To adjust FY 2007 year-end G/L 

balances to agree with the final SF224 

reporting (FBWT) for FY 2007. 

Fourteenth month (14/2007) entry was 

processed by AP99 that was not 

reported on their September 2007 SF224 

report. 

Adjustment to close out of miscellaneous 

receipts at year-end. Funds are returned 

to Treasury. Miscellaneous receipts are 

closed as part of the IFMS Post Closing 

process (See YACT Table). Adjustment 

was made to 680895 see entry #114 

To eliminate revenue and expenses 

between WCF and Non Earmarked 

Funds. 

14 
To eliminate revenue and expenses 

between WCF (Other Funds) and 

38 117 A. Correction OTHR Earmarked Funds. 

To eliminate revenue and expenses 

between WCF (Other Funds) and 

118 A. Correction EARM Earmarked Funds. 

To eliminate 4384 effect on the Financial 

39 148 D. Statement only adj. 8145 Statements 

To eliminate the effect of 4384 on the 

40 149 D. Statement only adj. 8153 Financial Statements 

To clear anticipated balance in SGL 

41 155 A. Correction 8145 4165 

15 
Appendix C 

Distribution 

Chief Financial Officer 

Deputy Chief Financial Officer 

Director, Office of Financial Management, Office of the Chief Financial Officer 

Director, Office of Reporting and Analysis Staff, Office of the Chief Financial Officer 

Director, Office of Financial Services, Office of the Chief Financial Officer 

Deputy Inspector General 

16