Federal Trust Fund Accounting Guide Introduction Trust Funds The Federal Government account structure consists of the following fund types: trust, special, general, revolving, and deposit. The fund type for the establishment of a new Federal account is dependent upon the terms stated in the legislation. For example, trust funds are established to carry out purposes of a trust agreement or statute. The Federal Budget of the U.S. Government groups funds into two major categories: trust funds and Federal funds. Trust funds are those designated by law as such, whereby receipts are earmarked for spending on specific purposes. The laws establishing trust funds may require balances to be invested, typically in Treasury debt securities. A small number of trust funds are further categorized as trust revolving funds, established to perform business-type operations. The accounting for trust revolving funds is similar to that of revolving funds in the Federal fund group. Federal funds include general, revolving, and special fund types. (Because deposit funds collect receipts that do not belong to the Federal Government, they are excluded from the Federal Budget.) This Guide covers the accounting for Federal trust funds only, excluding trust revolving funds. Funding sources for some of the larger dollar-volume trust funds include Federal and non-Federal contributions, interest on investments, taxes, premiums, State deposits, Federal fund transfers, excise taxes, customs duties, fines and penalties, and user fees. These funds generally are deposited in a trust fund receipt account. Trust funds finance various activities, including social insurance payments for individuals (e.g., social security, Medicare, and unemployment compensation), highway construction, and airport and airway development. There are also several smaller dollar-volume trust funds established to carry out the terms of gifts or bequests. Trust Fund Account Structure and Designation of Availability For trust funds established to collect receipts earmarked for specific spending purposes, Treasury Appropriation Fund Symbols (TAFS) are established as receipt and expenditure accounts. Receipt accounts are credited with receipts generated by the terms of a trust agreement or statute. An example of a TAFS trust fund receipt account structure is 20X8000.001. The "20" indicates Treasury, "X" shows the period of availability, "8000" represents the trust fund series, and ".001" is the type of earmarked receipt. Expenditure accounts are established to record amounts appropriated from trust fund receipt accounts that are to be expended in carrying out specific purposes according to the terms of a trust agreement or statute. Several receipt accounts can be associated with a single expenditure account. In following the example above, the TAFS for the trust fund expenditure account structure is 20X8000. Receipts are credited to trust fund receipt accounts at the point of collection. Each receipt account is designated as either available or unavailable for expenditure. As indicated in Treasury’s Federal Account Symbols and Titles (FAST) Book, approximately 99 percent of all trust fund receipt accounts i June 2001 are designated as available. An available receipt account carries the same symbol as its corresponding expenditure account. Amounts credited to available receipt accounts are appropriated immediately, without further legislative action, into the corresponding expenditure account. These amounts may then be invested if the legislation prescribes. 1 A trust fund’s designation of availability for investment has no bearing on whether it is available for obligation. For receipts collected that are not immediately available for obligation, the Office of Management and Budget (OMB) requires that budget authority and unobligated balances be excluded from the SF 133: Report on Budget Execution and Budgetary Resources. However, if the law designates the receipts as available for investment, Treasury requires that unobligated balances be reported on the USSGL 2108: Year-End Closing Statement. This presents a disconnect in the reporting of unobligated balances, which Treasury and OMB acknowledge as a reconciling item. Receipts classified as available for investment but not obligation are discussed in Scenario III, Trust Fund Receipts Available for Investment but not Obligation. Not all funds received by trust funds are deposited to trust fund receipt accounts. For example, amounts are credited directly to trust fund expenditure accounts when nonexpenditure transfers occur. Nonexpenditure transfers are accomplished via an SF 1151: Nonexpenditure Transfer Authorization, and include both appropriation and allocation transfers. Refer to Scenario I, Basic Trust Fund Accounting, for further discussion. Refer to the flowchart at the end of this section for a basic illustration of a trust fund account structure and flow. Scenario Presentation This Guide is categorized into eight scenarios. The scenarios address specific topics approved by the USSGL Board. Each scenario begins with a narrative describing the events that follow. Additional scenarios will be forthcoming as guidance is further developed. This Guide also will be updated periodically to include new and revised USSGL account titles and transaction descriptions. The scenarios are as follows: Scenario I Basic Trust Fund Accounting Scenario II Trust Fund Balances Precluded from Obligation Scenario III Trust Fund Receipts Available for Investment but not Obligation Scenario IV Trust Fund Investments Scenario V Treasury-Managed Trust Fund Allocation Accounts Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Scenario VII Trust Funds with Contract Authority – Part I: Appropriations to Liquidate Contract Authority – Funded by Nonexpenditure Transfers Scenario VIII Trust Funds with Contract Authority – Part II: Transfers of Contract Authority 1 TFM Vol. I Part 2 - Chapter 1500 states that "all trust funds with investment authority are designated as available receipts in the Treasury system, even if the receipts of the trust fund are not available to the agency for obligation." ii June 2001 Scenario Guidelines The following concepts apply to each scenario: The scenarios are not all inclusive of the different types of revenues and/or expenses that may be recorded by a trust fund entity. The intent is to illustrate the main concepts through basic transactions recorded by trust funds. Refer to Section III, Accounting Transactions, of TFM S2-01-02 (as updated) for a complete listing of USSGL accounts that may be recorded by trust funds. Section III is located on the USSGL Web site. Trust funds may or may not be subject to apportionment. Apportionments may apply to all or a portion of a trust fund. The scenarios vary in nature as to whether the trust fund is subject to apportionment. Refer to Section III, Accounting Transactions, of TFM S2-01-02 (as updated) for a complete listing of transactions. Budgetary and financial reports reflect the pertinent lines to be reported based on the individual scenarios. For full presentations of the reports and line descriptions, refer to the appropriate authoritative guidance (see References section below). References This Guide has been developed based on research of current reference materials and input from Treasury, OMB, and agency representatives. The references listed below should be used in conjunction with this Guide to determine the proper accounting and reporting treatment required of each individual Federal trust fund. The references are as follows: Agency’s establishing legislation and/or annual appropriation language Appendix to the Budget of the United States Government FASAB's SFFAS #7: Accounting for Revenue and Other Financing Sources OMB Bulletin 97-01: Form and Content of Agency Financial Statements OMB Circular A-11: Preparation and Submission of Budget Estimates OMB Circular A-34: Instructions on Budget Execution and Budgetary Resources Treasury Financial Manual references U.S. Government Annual Report - Appendix Common Terms and Abbreviations Common terms and abbreviations used in this Guide are as follows: ATB Adjusted Trial Balance Budget Appendix to the Budget of the United States Government FASAB Federal Accounting Standards Advisory Board FAST Book Federal Account Symbols and Titles Book FACTS Federal Agencies' Centralized Trial-Balance System iii June 2001 USSGL 2108 Yearend Closing Statement Guide Federal Trust Fund Accounting Guide OMB Office of Management and Budget OPAC Online Payment and Collection system P&F Program and Financing Schedule SF 133 Report on Budget Execution and Budgetary Resources SF 1151 Nonexpenditure Transfer Authorization SFFAS Statements of Federal Financial Accounting Standards USSGL United States Standard General Ledger TAFS Treasury Appropriation Fund Symbol TAR Treasury Annual Report Treasury U.S. Department of the Treasury TFM Treasury Financial Manual "B" Designation used directly after a USSGL account (e.g., 4114B) to indicate beginning balance required "E" Designation used directly after a USSGL account (e.g., 4114E) to indicate ending balance required "E-B" Designation used directly after a USSGL account (e.g., 4114E-B) to indicate ending minus beginning balance required Relevant Web Sites Web sites relating to this Guide are as follows: FASAB www.financenet.gov/financenet/fed/fasab OMB www.whitehouse.gov/omb USSGL https://www.fiscal.treasury.gov iv June 2001 Scenario I includes transactions and reports illustrating basic accounting for receipts and collections, expenditure transfers, nonexpenditure transfers, and exchange/nonexchange transactions. FASAB’s SFFAS #7, Accounting for Revenue and Other Financing Sources, prescribes the majority of proprietary accounting contained in this scenario. (Refer to Scenario IV, Trust Fund Investments, for discussion on investment transactions.) A basic concept of trust fund accounting is that trust funds do not use USSGL accounts 3100 Unexpended Appropriations or 5700 Expended Appropriations (refer to SFFAS #7, paragraph 213). At least two justifications support this concept. First, trust funds do not receive Treasury appropriation warrants, for which Fiscal Service Form 6200: Appropriation Warrant is issued from the General Fund of Treasury as a result of an appropriation act. USSGL account 3100 Unexpended Appropriations generally is associated with these types of warrants. Instead, the source of most trust fund inflows includes receipts and collections that are either deposited directly into trust funds or first collected by a custodial entity. Second, trust fund receipts predominantly consist of tax receipts (e.g., social security taxes, railroad retirement taxes, and excise taxes), as well as customs duties, fines, penalties, etc. Collecting entities such as the Internal Revenue Service and the U.S. Customs Service collect these receipts and deposit them into Treasury general fund receipt accounts. SFFAS #7 states that dedicated tax receipts, as well as amounts transferred-in from collecting entities, should be recorded as revenue, not as part of unexpended appropriations (USSGL 3100). Furthermore, to account for these receipts as revenue and as unexpended appropriations in the same trust fund account would double-count the amounts as financing sources.1 Therefore, all USSGL trust fund guidance (i.e., guidance contained within this Guide) reflects that USSGL account 3100 Unexpended Appropriations and corresponding account 5700 Expended Appropriations are not recorded by trust fund appropriation fund symbols. USSGL transfer accounts are split between nonexpenditure and expenditure transfers. This is because Treasury and OMB guidance prescribes different reporting requirements for each type of transfer.2 The four proprietary USSGL accounts established to account for trust fund transfers are as follows: 3 5750 Expenditure Financing Sources – Transfers-In 5755 Non-expenditure Financing Sources – Transfers-In 5760 Expenditure Financing Sources – Transfers-Out 5765 Non-expenditure Financing Sources – Transfers-Out For trust fund transfers, the appropriate action would be to either debit or credit the appropriate transfer account, rather than record USSGL accounts 3100 and/or 5700. Nonexpenditure USSGL accounts 5755 1 SFFAS #7 - Accounting for Revenue and Other Financing Sources, paragraphs 60 and 213 2 TFM Vol. I Part 2 - Chapter 2000; OMB Circular A-34 Sections 12.10 and 12.11 (dated November 3, 2000) 3 For USSGL account definitions, refer to Section II, Accounts and Definitions, of TFM S2-01-02 (as updated). and 5765 capture all trust-to-trust transfers, which, by definition, are nonexpenditure.4 This is accomplished via an SF 1151 form. All nonexpenditure transactions are recorded the same on the proprietary side, but crosswalk differently to the various budgetary reports. The USSGL accounts recorded in the budgetary transactions for nonexpenditure transfers vary depending on whether the transfer is an appropriation transfer or an allocation transfer.5 Expenditure USSGL accounts 5750 and 5760 capture transfers between trust funds and Federal funds (such as an agency’s general fund). This, by definition, is an expenditure transaction.6 However, these transfer accounts are recorded only if the transfer results from a nonexchange transaction, such as a law requiring the transfer. If the transaction is exchange in nature, then record a revenue or an expense account. On the budgetary side for expenditure transfers, the entity transferring-out must record an outlay, and the entity transferring-in must record a receipt or an appropriation. Other USSGL accounts were established to accommodate transfers between trust funds and Federal funds. They provide the mechanism to transfer financing sources where the funds remain invested for transfer at a later date. The proprietary USSGL accounts established for this purpose include: 1335 Expenditure Transfers Receivable 2155 Expenditure Transfers Payable On the budgetary side, the following USSGL account was established: 4114 Appropriated Trust or Special Fund Receipts Trust funds are to use USSGL account 4114 for appropriated receipts in the same way that Federal funds (with the exception of special funds) are to use USSGL budgetary account 4119 Other Appropriations Realized for appropriations received. USSGL account 4119 is not appropriate for trust funds to record for several reasons. First, it generally correlates with USSGL proprietary account 3100, which trust funds do not record. Additionally, USSGL account 4119 usually is associated with the receipt of an appropriation warrant, which trust funds do not receive. Therefore, trust funds should use USSGL account 4114 for all appropriated trust fund receipts, not USSGL account 4119. The term “appropriated” is used in the USSGL account title because, although trust funds do not receive actual appropriation warrants, amounts are appropriated from various sources. These sources include appropriations from a general fund receipt account to a trust fund receipt account (via Fiscal Service Optional Form 1017-G: Journal Voucher); from an agency’s general fund to the agency’s trust fund (via expenditure transfer, e.g., OPAC); and from a trust fund receipt account to a trust fund expenditure account. Therefore, USSGL account 4114 is used to record all trust fund receipts, and is counted as new budget authority on the SF 133. 4 TFM Vol. I Part 2 - Chapter 2000 5 Refer to TFM Vol. I Part 2 - Chapter 2000 for the distinction between the different types of nonexpenditure transfers. 6 TFM Vol. I Part 2 - Chapter 2000; OMB Circular A-34 Section 12.11 (dated November 3, 2000) 1. To record receipts deposited into a trust fund receipt account, which are automatically credited to the corresponding trust fund expenditure account.7 (Collections of tax receipts from the public are initially deposited into a Treasury General Fund Receipt Account (i.e. 0152 Excise Taxes) and recorded as custodial revenue by the collecting entity (i.e. IRS). From there the receipts are appropriated to the trust fund receipt account (via Fiscal Service Optional Form 1017-G: Journal Voucher). Note that Fiscal Service Form 6200: Appropriation Warrant is not processed.) (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 50,000 4450 Unapportioned Authority8 50,000 Proprietary 1010 Fund Balance With Treasury 50,000 5800 Tax Revenue Collected 50,000 2. To record the budgetary authority apportioned by OMB. (TC A116) Budgetary 4450 Unapportioned Authority 30,000 4510 Apportionments 30,000 Proprietary None 3. To record the allotment of authority. (TC A120) Budgetary 4510 Apportionments 20,000 4610 Allotments – Realized Resources 20,000 Proprietary None 7 The transactions in this scenario combine the activity of the receipt and expenditure accounts. The receipt-expenditure account relationship is described in more detail in the Introduction of the Guide. 8 This scenario assumes that the entire trust fund is subject to apportionment. For trust fund activity that is not subject to apportionment, credit USSGL account 4620 - Unobligated Funds Not Subject to Apportionment. 4. To record current-year unexpended obligations. (TC B204) Budgetary 4610 Allotments – Realized Resources 15,000 4801 Undelivered Orders - Obligations, Unpaid 15,000 Proprietary (None) 5. To record a payable to non-Federal recipients for expenses incurred. (TC B302) Budgetary 4801 Undelivered Orders - Obligations, Unpaid 15,000 4901 Delivered Orders - Obligations, Unpaid 15,000 Proprietary 6100 Operating Expenses/Program Costs 15,000 2110 Accounts Payable 15,000 6. To record a non-expenditure allocation9 transfer-out of non-invested balances from the parent account to another agency’s trust fund recipient allocation expenditure account.10 All trust-to-trust transfers are accomplished via an SF 1151: Nonexpenditure Transfer Authorization. (TC A214) Budgetary 4510 Apportionments 10,000 4175 Allocation Transfers of Current-Year Authority for Non-Invested Accounts 10,000 Proprietary 5765 Nonexpenditure Financing Sources – Transfers-Out 10,000 1010 Fund Balance With Treasury 10,000 9 Allocation transfers are posted to the same proprietary USSGL accounts as appropriation transfers, but different budgetary USSGL accounts are used (see transaction 8). 10 Refer to Scenario V, Treasury-Managed Trust Fund Allocation Accounts, for allocation transfers of invested balances, as well as TFM S2-01-02 (as updated) for comprehensive allocation transfer transactions. 7. To record payment and expenditure of amounts recorded in transaction 5. This will be reflected on the SF 224: Statement of Transactions. (TC B110) Budgetary 4901 Delivered Orders - Obligations, Unpaid 15,000 4902 Delivered Orders - Obligations, Paid 15,000 Proprietary 2110 Accounts Payable 15,000 1010 Fund Balance With Treasury 15,000 8. To record a non-expenditure appropriation transfer-in from another agency’s trust fund expenditure account. All trust-to-trust transfers are accomplished via an SF 1151: Nonexpenditure Transfer Authorization. (TC A250) Budgetary 4170 Transfers – Current-Year Authority 7,000 4450 Unapportioned Authority 7,000 Proprietary 1010 Fund Balance With Treasury 7,000 5755 Nonexpenditure Financing Sources – Transfers-In 7,000 9. To record penalties collected from Federal sources. Receipts are deposited into a trust fund receipt account and automatically credited to the corresponding trust fund expenditure account. (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 25,000 4450 Unapportioned Authority 25,000 Proprietary 1010 Fund Balance With Treasury 25,000 5320 Penalties, Fines and Administrative Fees Revenue 25,000 10. To record expenditure transfers-in of $5,000 for services provided to other Federal agencies (exchange transaction, not subject to the Economy Act) and $12,000 for amounts appropriated by law (nonexchange transaction). Both are transferred-in from other TAFSs. Report expenditure transfers on the SF 224: Statement of Transactions.11 (TC A264) Budgetary 4114 Appropriated Trust or Special Fund Receipts 17,000 4450 Unapportioned Authority 17,000 Proprietary 1010 Fund Balance With Treasury 17,000 5200 Revenue from Services Provided 5,000 5750 Expenditure Financing Sources – Transfers-In 12,000 11. To record expenditure transfers-out of $2,000 for expenses incurred to run a program (exchange transaction) and $1,000 for amounts transferred by law (nonexchange transaction). Report expenditure transfers on the SF 224: Statement of Transactions. (TC A116, A120, A266) Budgetary 4450 Unapportioned Authority12 3,000 4902 Delivered Orders - Obligations, Paid 3,000 Proprietary 5760 Expenditure Financing Sources – Transfers-Out 1,000 6100 Operating Expenses/Program Costs 2,000 1010 Fund Balance With Treasury 3,000 12. To record a payable for a nonexchange expenditure transfer-out to the agency's general fund. (TC A116, A259) Budgetary 4450 Unapportioned Authority13 4,000 4901 Delivered Orders - Obligations, Unpaid 4,000 Proprietary 5760 Expenditure Financing Sources – Transfers-Out 4,000 2155 Expenditure Transfers Payable 4,000 11 Typically, expenditure transfers-in that do not fall under the Economy Act are recorded into trust fund receipt accounts. The receipts are then automatically credited to the corresponding trust fund expenditure account (for trust funds designated in Treasury's FAST book as available). 12 The USSGL entries for budgetary fund control and obligations for trust funds are the same as those published in TFM S2- 01-02 (as updated). For purposes of illustration, only the final results are shown here. 13 Same as footnote 7. 13. To record the actual nonexchange expenditure transfer-out from transaction #12 via OPAC. The SF 224: Statement of Transactions will reflect this transaction. (TC A261) Budgetary 4901 Delivered Orders - Obligations, Unpaid 4,000 4902 Delivered Orders - Obligations, Paid 4,000 Proprietary 2155 Expenditure Transfers Payable 4,000 1010 Fund Balance With Treasury 4,000 Budgetary Pre-Closing Adjusted Trial Balance (FACTS II ATB): 4114 92,000 4170 7,000 10,000 4175 62,000 4450 5,000 4610 22,000 4902 99,000 Budgetary Closing Entries: C1. To record the consolidation of actual net-funded resources. (TC F204) 99,000 4175 Allocation Transfers of Current-Year Authority for Non-Invested Accounts 10,000 4201 Total Actual Resources - Collected 89,000 4114 Appropriated Trust or Special Fund Receipts 92,000 4170 Transfers – Current-Year Authority 7,000 C2. To record the closing of unobligated balances to unapportioned authority. (TC F210) 4610 Allotments – Realized Resources 5,000 4450 Unapportioned Authority 5,000 C3. To record the closing of Expended Authority - Paid. (TC F214) 4902 Delivered Orders - Obligations, Paid 22,000 4201 Total Actual Resources - Collected 22,000 Budgetary Post-Closing Trial Balance: 4201 67,000 67,000 4450 67,000 67,000 Proprietary Pre-Closing Trial Balance (FACTS I Trial Balance): 1010 67,000 5,000 5200 25,000 5320 19,000 5750 7,000 5755 5760 5,000 5765 10,000 50,000 5800 6100 17,000 99,000 Proprietary Closing Entries: C1. To record the closing of revenues and expenses to cumulative results of operations. (TC F228) 5200 Revenue from Services Provided 5,000 5320 Penalties, Fines and Administrative Fees Revenue 25,000 5750 Expenditure Financing Sources – Transfers-In 12,000 5755 Nonexpenditure Financing Sources – Transfers-In 7,000 5800 Tax Revenue Collected 50,000 3310 Cumulative Results of Operations 67,000 5760 Expenditure Financing Sources – Transfers-Out 5,000 5765 Nonexpenditure Financing Sources – Transfers-Out 10,000 6100 Operating Expenses/Program Costs 17,000 Proprietary Post-Closing Trial Balance: 99,000 1010 67,000 67,000 3310 67,000 67,000 SF 133: Report on Budget Execution and Budgetary Resources (Quarter 4): 1. Budget Authority A. Appropriations (4114E) 92,000 D. Net Transfers, Current Year Authority Realized (Net 4170E, 4175E) (3,000) 2. Unobligated Balance Brought Forward 3. Spending Authority from Offsetting Collections (gross) 4. Recoveries of Prior Year Obligations 5. Temporarily Not Available Pursuant to Public Law 6. Permanently Not Available 7. Total Budgetary Resources 89,000 8. Obligations Incurred (4902E) 22,000 9. Unobligated Balance (available) (4610E) 5,000 10. Unobligated Balance Not Available (4450E) 62,000 11. Total, Status of Budgetary Resources 89,000 12. Obligated Balance, Net as of October 1 13. Obligated Balance Transferred, Net 14. Obligated Balance, Net, End of Period 15. Outlays A. Disbursements (4902E) 22,000 B. Collections USSGL 2108: Year-end Closing Statement: Column 5 Post-Closing Unexpended Balance (1010E) 67,000 Column 11 Unobligated Balance (4450E, 4610E) 67,000 Program and Financing Schedule (P&F)14: Obligations by Program Activity 1000 Total new obligations (4902E) 22,000 Budgetary Resources Available for Obligation 2140 Unobligated balance available, start of year 0 2200 New budget authority(gross) (sum 4000 to 6990) 99,000 2395 Total new obligations (-) (from line 1000) 22,000 2499 Unobligated balance carried forward, end of year (4450E, 4610E of parent and recipient) 77,000 New Budgetary Authority (Gross), Detail 4026 Appropriation (trust fund, definite) (4114E) 92,000 4100 Transferred to other accounts (4175E-parent) (10,000) 4200 Transferred from other accounts (4170E, 4175E-recipient) 17,000 7000 Total new budget authority (gross) (4114E, 4170E, 4175E) 99,000 Memorandum Entries 9201 Total investments, start of year (par) (1610B) 0 9202 Total investments, end of year (par) (1610E) 0 14 Per OMB Circular A-11, Section 82.15 (dated July 19, 2000), P&F data for allocation receiving accounts must be combined with the parent account. For example, as illustrated above, USSGL account 4175 is reported on lines 4100 and 4200; however, since this P&F data is combined with the recipient account, USSGL account 4175 nets to zero on line 7000 (total). OMB Form and Content Statements 15 Balance Sheet ASSETS 1A4 Fund Balance With Treasury (1010E) 67,000 LIABILITIES and NET POSITION 6B Cumulative Results of Operations (3310E) 67,000 Statement of Net Cost 1A1. Program Costs - Intragovernmental - Production (6100E) 2,000 1B1. Program Costs - Public - Production (6100E) 15,000 1C. Total Program Cost (calc) 17,000 1D. Less Earned Revenues (5200E) (5,000) 1E. Net Program Costs (calc) 12,000 2. Costs Not Assigned to Programs 3. Less Earned Revenues Not Attributable to Programs 4. Net Cost Of Operations 12,000 Statement of Changes in Net Position 1. Net Cost of Operations 12,000 2B. Taxes (and Other Nonexchange Revenue) (5320E, 5800E) 75,000 2E. Transfers-in (5750E, 5755E) 19,000 2F. Transfers-out (5760E, 5765E) (15,000) 3. Net Results of Operations (calculation) 67,000 9. Net Position-End of Period (calculation) 67,000 15 When preparing consolidated statements, perform intra-agency elimination entries for expenditure and nonexpenditure transfers. OMB Form and Content Statements (continued) Statement of Budgetary Resources 1. Budget Authority A. Appropriations (4114E) 92,000 D. Net Transfers, Current Year Authority (4170E, 4175E) (3,000) 5. Total Budgetary Resources 89,000 6. Obligations Incurred (4902E) 22,000 7A. Unobligated Balances Available - Apportioned (4610E) 5,000 8D. Unobligated Balances Not Yet Available - Other (4450E) 62,000 9. Total, Status of Budgetary Resources 89,000 10. Obligations Incurred (4902E) 22,000 15. Total Outlays A. Disbursements (4902E) 22,000 B. Collections Statement of Financing 1A. Obligations Incurred (4902E) 22,000 1H. Less: Trust or Special Fund Receipts Related to Exchange Revenue in the Entity’s Budget (5200E) (5,000) 1J. Total Obligations as Adjusted and Nonbudgetary Resources 17,000 2. Resources That Do Not Fund Net Cost of Operations 2F. Adjustment for Trust Fund Outlays That Do Not Affect Net Cost (5760E) (5,000) 2H. Total Resources That Do Not Fund Net Costs of Operations (5,000) 3. Costs That Do Not Require Resources 4. Financing Sources Yet to be Provided 5. Net Cost of Operations 12,000 Certain trust funds fall under a requirement whereby any unobligated balances remaining at yearend must be classified as temporarily not available and, in effect, temporarily removed from budget execution. This requirement applies only to funds wherein receipts are immediately appropriated, but are precluded from obligation at yearend by a provision of law, such as a benefit formula or limitation. This authority can be precluded during the year (i.e., by legislation) but is more commonly seen with trust funds at the end of the year (i.e., for trust funds with legislative provisions that contain a benefit formula or limitation on obligations). Some of the larger dollar-value and commonly known trust funds fit into this category. Examples of these types of trust funds are the Federal Old-Age and Survivor's Insurance Trust Fund, Federal Hospital Insurance Trust Fund, and Unemployment Trust Fund. Reporting guidelines stipulate that the yearend SF 133 must agree with the P&F in the Budget. Furthermore, there is a relationship between Schedule N: Schedule of Unavailable Collections (which precedes the P&F in the Budget) and the P&F. The Schedule N and P&F together, as well as the yearend SF 133, should reflect that the amount of current-year receipts less obligations equals amounts precluded from obligation. In addition, budgetary reporting of these trust funds reflects no beginning or ending unobligated balances available for obligation. During the year, appropriated receipts are recorded as new budget authority on Line 1A of the SF 133, while at the same time obligations are incurred. On September 30th, any remaining unobligated balances become temporarily precluded from obligation, and are subtracted from budget authority on Line 5 of the SF 133. This process results in a zero unobligated balance on both the SF 133 and P&F. However, the balances remain on Schedule N until such time as needed when current-year receipts are not enough to cover current-year obligations. Furthermore, the unobligated balances are to be included on the USSGL 2108, Column 11, Unobligated Balances. To account for this type of activity, the following budgetary USSGL accounts were established to ensure accurate reporting on the SF 133, USSGL 2108, and multiple lines of the P&F: 4157 Authority Made Available from Receipt or Appropriation Balances Previously Precluded from Obligation 4158 Authority Made Available from Offsetting Collections Balances Previously Precluded from Obligation 4397 Receipts and Appropriations Temporarily Precluded from Obligation 4398 Offsetting Collections Temporarily Precluded from Obligation USSGL accounts 4397 and 4398 are recorded to temporarily preclude receipts or offsetting collections from obligation. These accounts are credited at yearend against any remaining unobligated balances and remain open. On the SF 133, they crosswalk to Line 5, Temporarily Not Available Pursuant to Public Law, as fiscal year amounts and are subtracted to bring total budgetary resources to zero. The beginning balances are carried forward to Line 2A, Unobligated Balance Brought Forward, the following year, but are netted against total actual resources collected, thus resulting in a zero balance on Line 2A. On the USSGL 2108, these accounts crosswalk to Column 11, Unobligated Balances, and represent invested balances. This causes a disconnect between the unobligated balances reported on the SF 133 and USSGL 2108, with the difference captured in USSGL accounts 4397 and 4398. USSGL accounts 4157 and 4158 are recorded to return authority to the trust fund if current-year receipts are not enough to cover current-year obligations. The "returned" authority is treated as new budget authority on the SF 133. However, if the trust fund's total current-year receipts are greater than total current-year obligations, then these accounts must be adjusted to zero prior to submitting the FACTS II ATB (preclosing entry). If, on the other hand, the trust fund's total current-year receipts are not enough to cover current-year obligations, then these accounts are closed as part of the post-closing entries. The following scenario illustrates each of these concepts. Year 1 illustrates the proper entries for a trust fund where the total amount of current-year receipts is greater than total current-year obligations. Year 2 illustrates authority returned to the trust fund in order to cover obligations, and the corresponding entries where the total amount of current-year receipts at yearend is greater than the amount that was needed to cover current-year obligations. Year 3 illustrates authority returned to the trust fund to cover obligations, and the corresponding entries where the total amount of current-year receipts at yearend is not enough to cover current-year obligations. Year 1 1. To record appropriated receipts from Federal sources into a trust fund. The receipts are deposited into an available trust fund receipt account, and are automatically credited to the corresponding expenditure account.1 Assume a portion of the receipts is subject to apportionment. (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 500 4450 Unapportioned Authority 100 4620 Unobligated Funds Not Subject to Apportionment 400 Proprietary 1010 Fund Balance with Treasury 500 5800 Tax Revenue Collected 500 2. To record reimbursable activity between a trust fund and another Federal fund for work performed under the Economy Act.2 Offsetting collections are recorded directly to trust fund expenditure accounts. Assume offsetting collections for this program are subject to apportionment. A. To record anticipated reimbursements. (TC A302) Budgetary 4210 Anticipated Reimbursements and Other Income 700 4450 Unapportioned Authority 700 Proprietary None 1 The transactions in this scenario combine the activity of the receipt and expenditure accounts. The receipt-expenditure account relationship is described in more detail in the Introduction of the Guide. 2 Generally all trust fund receipts and collections are recorded into USSGL account 4114 Appropriated Trust or Special Fund Receipts. An exception exists for work performed under the Economy Act, for which the collections are recorded as offsetting and netted against outlays. B. To record anticipated resources apportioned, based upon an approved SF 132: Apportionment or Reapportionment Request, but not yet available for use. (TC A118) Budgetary 4450 Unapportioned Authority 550 4590 Apportionments Unavailable - Anticipated Resources 550 Proprietary None C. To record a reimbursable agreement with an advance and to realize previously anticipated and apportioned authority. (TC A122, C182) Budgetary 4222 Unfilled Customer Orders With Advance 550 4210 Anticipated Reimbursements and Other Income 550 and 4590 Apportionments Unavailable - Anticipated Resources 550 4610 Allotments - Realized Resources 550 Proprietary 1010 Fund Balance With Treasury 550 2310 Advances from Others 550 D. To incur obligations. (TC B204) Budgetary 4610 Allotments - Realized Resources 550 4801 Undelivered Orders - Obligations, Unpaid 550 Proprietary None E. To record earned revenue related to the reimbursable agreement. (TC A306) Budgetary 4252 Reimbursements and Other Income Earned - Collected 550 4222 Unfilled Customer Orders With Advance 550 Proprietary 2310 Advances from Others 550 5200 Revenue from Services Provided 550 F. To record services performed and expenses incurred. (TC B107) Budgetary 4801 Undelivered Orders - Obligations, Unpaid 550 4902 Delivered Orders - Obligations, Paid 550 Proprietary 6100 Operating Expenses/Program Costs 550 1010 Fund Balance With Treasury 550 3. To record obligation, expenditure and disbursement of funds to non-Federal recipients against portion of receipts collected in transaction 1. (TC B107) Budgetary 4620 Unobligated Funds Not Subject to Apportionment 225 4902 Delivered Orders - Obligations, Paid 225 Proprietary 6100 Operating Expenses/Program Costs 225 1010 Fund Balance with Treasury 225 Year 1 Budgetary Adjusting Entries: For trust funds wherein receipts are precluded from obligation at year-end, record the following preclosing entries. These entries are to be made prior to submitting FACTS II ATB's. Note that these entries may also be made during the year if specified by law. A1) To record adjustments for anticipated resources not realized. (TC F112) 4450 Unapportioned Authority 150 4210 Anticipated Reimbursements and Other Income 150 A2) To record unobligated balances of appropriated receipts temporarily precluded from obligation. (TC A127) 4620 Unobligated Funds Not Subject to Apportionment 175 4397 Receipts and Appropriations Temporarily Precluded from Obligation 175 A3) To record unobligated balances of offsetting collections temporarily precluded from obligation. (TC A129) 4450 Unapportioned Authority 100 4398 Offsetting Collections Temporarily Precluded from Obligation 100 Year 1 Budgetary Pre-Closing Adjusted Trial Balance (FACTS II ATB): 4114 500 4252 550 175 4397 100 4398 775 4902 1,050 Budgetary Closing Entries: C1. To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 1,050 4114 Appropriated Trust or Special Fund Receipts 500 4252 Reimbursements and Other Income Earned - Collected 550 C2. To record the closing of Expended Authority - Paid. (TC F214) 4902 Delivered Orders - Obligations, Paid 775 4201 Total Actual Resources - Collected 775 Budgetary Post-Closing Trial Balance: 1,050 4201 275 175 4397 100 4398 275 275 Year 1 Proprietary Pre-Closing Trial Balance (FACTS I Trial Balance): 1010 275 550 5200 500 5800 6100 775 1,050 Proprietary Closing Entries: C1. To record the closing of revenues and expenses to cumulative results of operations. (TC F228) 5200 Revenue from Services Provided 550 5800 Tax Revenue Collected 500 3310 Cumulative Results of Operations 275 6100 Operating Expenses/Program Costs 775 Proprietary Post-Closing Trial Balance: 1,050 1010 275 275 3310 275 275 Year 1 SF 133: Report on Budget Execution and Budgetary Resources (Quarter 4): 1A Appropriations (4114E) 500 2A Unobligated Balance Brought Forward 3A1 Spending Authority from Offsetting Collections, Earned, Collected (4252E) 550 5 Temporarily Not Available Pursuant to P.L. (4397E-B, 4398E-B) (275) 7 Total Budgetary Resources 775 8A1 Obligations Incurred, Direct (4902E) 550 8A3 Obligations Incurred, Direct, Not Subject to Apportionment (4902E) 225 9 Unobligated Balances Available 0 11 Total Status of Budgetary Resources 775 12. Obligated Balance, Net as of October 1 13. Obligated Balance Transferred, Net 14. Obligated Balance, Net, End of Period 15A. Disbursements (4902E) 775 15B. Collections (4252E) 550 USSGL 2108: Year-end Closing Statement: Column 5 Post-Closing Unexpended Balance (1010E) 275 Column 11 Unobligated Balance (4397E, 4398E) 275 Year 1 Schedule P - Program & Financing: Obligations by Program Activity 1000 Total new obligations (4902E) 775 Budgetary Resources Available for Obligation 2200 New budget authority (gross) (sum 4000 to 6990) 775 2395 Total new obligations (-) (from line 1000) (775) 2499 Total unobligated balance, end of year 0 New Budgetary Authority (Gross) Detail 6027 Appropriation (trust fund, indefinite) (4114E) 500 6045 Portion precluded from obligation (-) (4397E-B) (175) 6800 Discr spend authority from offsetting collections (4252E) 550 6845 Portion unavailable for obligation (-) (4398E-B) (100) 7000 Total new budget authority (gross) (4114E+4252E+4397E-B+4398E-B) 775 Year 1 OMB Form and Content Statements Balance Sheet ASSETS 1A1 Entity - Intragovernmental (1010E) 275 LIABILITIES & NET POSITION 8 Cumulative Results of Operations (3310E) 275 Statement of Net Cost 1B1 Program Costs - Public - Production (6100E) 775 1D Less Earned Revenue (5200E) (550) 5 Net Cost of Operations (calc) 225 Statement of Changes in Net Position 1 Net Cost of Operations 225 2B Financing Sources-Taxes (5800E) 500 9 Net Position - End of Period (calc) 275 Year 1 OMB Form and Content Statements (continued) Statement of Budgetary Resources 1A Budget Authority - Appropriations (4114E) 500 3A1 Spending Authority from Offsetting Collections (4252E) 550 4B Adjustments - Temporarily not Available (4397E-B, 4398E-B) (275) 5 Total Budgetary Resources 775 6 Obligations Incurred (4902E) 775 9 Total Status of Resources 775 10 Obligations Incurred (4902E) 775 11A1 Spending Authority from Offsetting Collections (4252E) 550 15 Total Outlays (calc) 225 Statement of Financing 1A Obligations Incurred (4902E) 775 1B1a Earned Reimb Collected (4252E) (550) 1J Total (calc) 225 5 Net Cost of Operations (calc) 225 Year 2 (Year 2 illustrates authority returned to the trust fund in order to cover obligations, and the corresponding entries where the total amount of current-year receipts at year-end is greater than the amount that was needed to cover current-year obligations.3) 1. To record appropriated receipts from Federal sources into a trust fund. The receipts are deposited into an available trust fund receipt account, and are automatically credited to the corresponding expenditure account. Assume the receipts are not subject to apportionment. (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 600 4620 Unobligated Funds Not Subject to Apportionment 600 Proprietary 1010 Fund Balance with Treasury 600 5800 Tax Revenue Collected 600 2a. To record the obligation, expenditure and disbursement of funds to non-Federal recipients. Note that at the time of obligation, current year receipts are not enough to cover obligations. (TC B107) Budgetary 4620 Unobligated Funds Not Subject to Apportionment 750 4902 Delivered Orders - Obligations, Paid 750 Proprietary 6100 Operating Expenses/Program Costs 750 1010 Fund Balance with Treasury 750 - and - 3 Compare with Year 3 where the total amount of current-year receipts at year-end is not enough to cover current-year obligations. The difference is in whether an adjusting entry or closing entry is required to reduce USSGL accounts 4157 and 4158. Year 2 2b. To record authority made available from previously unavailable balances.4 (TC A192, A194) (Calculation: $600 received - $750 to be expended = $150 to be covered by balances collected in prior years) Budgetary 4157 Authority Made Available from Receipt or Appropriation Balances Previously Precluded from Obligation 75 4158 Authority Made Available from Offsetting Collections Balances Previously Precluded from Obligation 75 4620 Unobligated Funds Not Subject to Apportionment 150 Proprietary None 3. To record additional appropriated receipts into the trust fund. (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 500 4620 Unobligated Funds Not Subject to Apportionment 500 Proprietary 1010 Fund Balance with Treasury 500 5800 Tax Revenue Collected 500 4 The unavailable balances from prior years are captured in USSGL accounts 4397 or 4398. Refer to Year 1 of this scenario for the original transactions. Year 2 Budgetary Adjusting Entries: A1) To record unobligated balances of appropriated receipts temporarily precluded from obligation. (TC A127) 4620 Unobligated Funds Not Subject to Apportionment 500 4397 Receipts and Appropriations Temporarily Precluded from Obligation 500 A2) To reduce balances previously precluded from obligation by the amount that was needed in the current year to cover obligations. NOTE: Record this entry as preclosing when the total amount of current-year receipts is greater than the amount needed to cover current-year obligations.5 (TC F132, F134) 4397 Receipts and Appropriations Temporarily Precluded from Obligation 75 4157 Authority Made Available from Receipt or Appropriation Balances Previously Precluded from Obligation 75 4398 Offsetting Collections Temporarily Precluded from Obligation 75 4158 Authority Made Available from Offsetting Collections Balances Previously Precluded from Obligation 75 5 Record this entry as post-closing when the total amount of current-year receipts is not enough to cover current-year obligations. Refer to Year 3 of this scenario for an illustration. Note that alternative methods may be used to achieve the same result. Year 2 Beginning Budgetary Trial Balance: 4397B 4201B 275 175 4398B 100 275 Budgetary Pre-Closing Adjusted Trial Balance (FACTS II ATB): 275 4114 1100 4201 275 600 4397 25 4398 750 4902 1,375 Budgetary Closing Entries: C1. To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 1,100 4114 Appropriated Trust or Special Fund Receipts 1,100 C2. To record the closing of Expended Authority - Paid. (TC F214) 1,375 4902 Delivered Orders - Obligations, Paid 750 4201 Total Actual Resources - Collected 750 Year 2 Budgetary Post-Closing Trial Balance: 4201 625 600 4397 25 4398 625 625 Year 2 Beginning Proprietary Trial Balance: 3310B 1010B 275 275 275 Proprietary Pre-Closing Adjusted Trial Balance (FACTS I ATB): 275 1010 625 275 3310 1,100 5800 6100 750 1,375 Proprietary Closing Entries: C1. To close revenues and expenses into cumulative results of operations. (TC F228) 5800 Tax Revenue Collected 1,100 6100 Operating Expenses/Program Costs 750 3310 Cumulative Results of Operations 350 Proprietary Post-Closing Trial Balance: 1,375 1010 625 625 3310 625 625 Year 2 SF 133: Report on Budget Execution and Budgetary Resources (Quarter 4): 1A Appropriations (4114E) 1,100 2A Unobligated Balance Brought Forward (4201B+4397B+4398B) 0 3A1 Spending Authority from Offsetting Collections 5 Temporarily Not Available Pursuant to P.L. (4397E-B, 4398E-B) (350) 7 Total Budgetary Resources 750 8A3 Obligations Incurred, Direct, Not Subject to Apportionment (4902E) 750 9 Unobligated Balances Available 0 11 Total Status of Budgetary Resources 750 12. Obligated Balance, Net as of October 1 13. Obligated Balance Transferred, Net 14. Obligated Balance, Net, End of Period 15A. Disbursements (4902E) 750 USSGL 2108: Year-end Closing Statement: Column 5 Post-Closing Unexpended Balance (1010E) 625 Column 11 Unobligated Balance (4397E+4398E) 625 Year 2 Schedule P - Program & Financing Obligations by Program Activity 1000 Total new obligations (4902E) 750 Budgetary Resources Available for Obligation 2200 New budget authority (gross) (sum 4000 to 6990) 750 2395 Total new obligations (-) (from line 1000) (750) 2499 Total unobligated balance, end of year 0 New Budgetary Authority (Gross) Detail 6027 Appropriation (trust fund, indefinite) (4114E) 1,100 6028 Appropriation (unavailable balances) (4157E) 0 6045 Portion precluded from obligation (-) (4397E-B) (425) 6800 Discr spend authority from offsetting collections 6826/6926 From offsetting collections (unavailable balances) (4158E) 0 6845 Portion unavailable for obligation (-) (4398E-B) 75 7000 Total new budget authority (gross) (4114E+4157E+4158E+4397E-B+4398E-B) 750 Year 2 OMB Form and Content Statements Balance Sheet ASSETS 1A1 Entity-Intragovernmental (1010E) 625 LIABILITIES and NET POSITION 8 Cumulative Results of Operations (3310E) 625 Statement of Net Cost 1B1 Program Costs-Public-Production (6100E) 750 5 Net Cost of Operations (calc) 750 Statement of Changes in Net Position 1 Net Cost of Operations 750 2B Financing Sources-Taxes (5800E) 1,100 3 Net Results of Operations (calc 2-1) 350 8 Net Position-Beg of Period (3310B) 275 9 Net Position-End of Period (calc) 625 Year 2 OMB Form and Content Statements (continued) Statement of Budgetary Resources 1A Budget Authority - Appropriations (4114E, 4157E, 4158E) 1,100 4B Adjustments - Temporarily not Available (4397E-B, 4398E-B) (350) 5 Total Budgetary Resources 750 6 Obligations Incurred (4902E) 750 9 Total Status of Resources 750 10 Obligations Incurred (4902E) 750 15 Total Outlays (calc) 750 Statement of Financing 1A Obligations Incurred (4902E) 750 1J Total (calc) 750 5 Net Cost of Operations (calc) 750 Year 3 (Year 3 illustrates authority returned to the trust fund in order to cover obligations, and the corresponding entries where the total amount of current-year receipts at year-end is not enough to cover current-year obligations.6) 1. To record appropriated receipts into a trust fund. The receipts are deposited into an available trust fund receipt account, and are automatically credited to the corresponding expenditure account. Assume the receipts are not subject to apportionment. (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 1,000 4620 Unobligated Funds Not Subject to Apportionment 1,000 Proprietary 1010 Fund Balance with Treasury 1,000 5800 Tax Revenue Collected 1,000 2a. To record the obligation, expenditure and disbursement of funds. Note that at the time of obligation, current year receipts are not enough to cover obligations. (TC B107) Budgetary 4620 Unobligated Funds Not Subject to Apportionment 1,200 4902 Delivered Orders - Obligations, Paid 1,200 Proprietary 6100 Operating Expenses/Program Costs 1,200 1010 Fund Balance with Treasury 1,200 - and - 2b. To record authority made available from previously unavailable balances. (TC A192) Budgetary 4157 Authority Made Available from Receipt or Appropriation Balances Previously Precluded from Obligation 200 4620 Unobligated Funds Not Subject to Apportionment 200 Proprietary None 6 Compare with Year 2 where the total amount of current-year receipts at year-end is greater than the amount that was needed to cover current-year obligations. The difference is in whether an adjusting entry or closing entry is required to reduce USSGL accounts 4157 and 4158. Year 3 3. To record additional appropriated receipts into the trust fund. (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 100 4620 Unobligated Funds Not Subject to Apportionment 100 Proprietary 1010 Fund Balance with Treasury 100 5800 Tax Revenue Collected 100 Budgetary Adjusting Entries: A1) To record unobligated balances of appropriated receipts temporarily precluded from obligation. (TC A127) 4620 Unobligated Funds Not Subject to Apportionment 100 4397 Receipts and Appropriations Temporarily Precluded from Obligation 100 Year 3 Beginning Budgetary Trial Balance: 4397B 4201B 625 600 4398B 25 625 Budgetary Pre-Closing Adjusted Trial Balance (FACTS II ATB): 625 4114 1,100 4157 200 4201 625 700 4397 25 4398 1,200 4902 1,925 Budgetary Closing Entries: C1) To record the consolidation of actual net-funded resources. (TC F204) 1,925 4201 Total Actual Resources - Collected 1,100 4114 Appropriated Trust or Special Fund Receipts 1,100 C1) To record the closing of Expended Authority - Paid. (TC F214) 4902 Delivered Orders - Obligations, Paid 1,200 4201 Total Actual Resources - Collected 1,200 Year 3 C2) To reduce balances previously precluded from obligation by the amount that was needed in the current year to cover obligations. NOTE: Record this entry as post-closing when the total amount of current-year receipts is not enough to cover current-year obligations.7 (TC F242) 4397 Receipts and Appropriations Temporarily Precluded from Obligation 200 4157 Authority Made Available from Receipt or Appropriation Balances Previously Precluded from Obligation 200 Budgetary Post-Closing Trial Balance: 4201 525 500 4397 25 4398 525 525 7 Record this entry as pre-closing when the total amount of current-year receipts is greater than the amount needed to cover current-year obligations. Refer to Year 2 of this scenario for an illustration. Note that alternative methods may be used to achieve the same result. Year 3 Beginning Proprietary Trial Balance: 3310B 1010B 625 625 625 Proprietary Pre-Closing Trial Balance (FACTS I Trial Balance): 625 1010 525 625 3310 1,100 5800 6100 1,200 1,725 Proprietary Closing Entries: C1. To close revenues and expenses into cumulative results of operations. (TC F228) 5800 Tax Revenue Collected 1,100 3310 Cumulative Results of Operations 100 6100 Operating Expenses/Program Costs 1,200 Proprietary Post-Closing Trial Balance: 1,725 1010 525 525 3310 525 525 Year 3 SF 133: Report on Budget Execution and Budgetary Resources (Quarter 4): 1A Appropriations (4114E+4157E+4158E) 1,300 2A Unobligated Balance Brought Forward (4201B+4397B+4398B) 0 3A1 Spending Authority from Offsetting Collections 5 Temporarily Not Available Pursuant to P.L. (4397E-B, 4398E-B) (100) 7 Total Budgetary Resources 1,200 8A3 Obligations Incurred, Direct, Not Subject to Apportionment (4902E) 1,200 9 Unobligated Balances Available 0 11 Total Status of Budgetary Resources 1,200 12. Obligated Balance, Net as of October 1 13. Obligated Balance Transferred, Net 14. Obligated Balance, Net, End of Period 15A. Disbursements (4902E) 1,200 USSGL 2108: Year-end Closing Statement: Column 5 Post-Closing Unexpended Balance (1010E) 525 Column 11 Unobligated Balance (4157E+4158E+4397E+4398E) 525 Year 3 Schedule P - Program & Financing: Obligations by Program Activity 1000 Total new obligations (4902E) 1,200 Budgetary Resources Available for Obligation 2200 New budget authority (gross) (sum 4000 to 6990) 1,200 2395 Total new obligations (-) (from line 1000) (1,200) 2499 Total unobligated balance, end of year 0 New Budgetary Authority (Gross) Detail 6027 Appropriation (trust fund, indefinite) (4114E) 1,100 6028 Appropriation (unavailable balances) (4157E) 200 6045 Portion precluded from obligation (-) (4397E-B) (100) 6800 Discr spend authority from offsetting collections 6826/6926 From offsetting collections (unavailable balances) 6845 Portion unavailable for obligation (-) (4398E-B) 0 7000 Total new budget authority (gross) (4114E+4157E+4158E+4397E-B+4398E-B) 1,200 Year 3 OMB Form and Content Statements Balance Sheet ASSETS 1A1 Entity-Intragovernmental (1010E) 525 LIABILITIES & NET POSITION 8 Cumulative Results of Operations (3310E) 525 Statement of Net Cost 1B1 Program Costs-Public-Production (6100E) 1,200 5 Net Cost of Operations (calc) 1,200 Statement of Changes in Net Position 1 Net Cost of Operations 1,200 2B Financing Sources-Taxes (5800E) 1,100 3 Net Results of Operations (calc 2-1) (100) 8 Net Position-Beg of Period (3310B) 625 9 Net Position-End of Period (calc) 525 Year 3 OMB Form and Content Statements (continued) Statement of Budgetary Resources 1A Budget Authority - Appropriations (4114E, 4157E, 4158E) 1,300 4B Adjustments - Temporarily not Available (4397E-B, 4398E-B) (100) 5 Total Budgetary Resources 1,200 6 Obligations Incurred (4902E) 1,200 9 Total Status of Resources 1,200 10 Obligations Incurred (4902E) 1,200 15 Total Outlays (calc) 1,200 Statement of Financing 1A Obligations Incurred (4902E) 1,200 1J Total (calc) 1,200 5 Net Cost of Operations (calc) 1,200 Scenario III illustrates the accounting and reporting procedures for trust fund receipts available for investment, but not immediately available for obligation. Examples include receipts collected in one year that are not available for obligation until the following year, or receipts only available for obligation subject to an annual appropriation act. In both cases, the amounts are available for investment, and therefore the unobligated balances should be reflected on the USSGL 2108. OMB, however, classifies these receipts as unavailable, or unappropriated, and requires the amounts to be excluded from the SF 133 until the required conditions are met. An example would be the Aquatic Resources Trust Fund. As indicated in Treasury's FAST Book, most Federal trust funds are designated as available, indicating that receipts collected are immediately available for investment. Therefore, in Treasury's central accounting system, when receipts are deposited into an available trust fund receipt account, they are automatically credited to the corresponding expenditure account, with no further action required by Congress. Once in the expenditure account, the funds may be invested, based upon terms stipulated in legislation or a trust agreement. Regardless of whether a trust fund is designated as available in Treasury's system, the receipts of that trust fund may or may not be available to the agency for obligation. Obligational authority is also determined in the legislation governing the trust fund. If a fund symbol is available for both investment and obligation, then follow accounting guidance illustrated in Scenario I, Basic Trust Fund Accounting. However, if a fund symbol is designated as available for investment but not available for obligation, then observe the guidance provided in Scenario III. This scenario illustrates the use of USSGL account 4394 Receipts Not Available for Obligation Upon Collection. This account was established to provide the mechanism for properly including balances on the USSGL 2108 and excluding balances on the SF 133. Since there are more special funds than trust funds that employ this type of activity, a more detailed scenario was developed by the USSGL Special Fund Subcommittee, in conjunction with the USSGL Trust Fund Subcommittee. For additional background and presentation of this USSGL account, visit the USSGL Web site. Year 1 1. To record the collection of excise taxes from the public into an available trust fund receipt account. Because the trust fund is designated as available, the receipts are automatically credited to the corresponding expenditure account, so that they may be invested.1 Assume that the legislation for this trust fund states that receipts are not available for obligation until the next fiscal year. (TC A188) Budgetary 4114 Appropriated Trust or Special Fund Receipts 10,000 4394 Receipts Not Available for Obligation Upon Collection 10,000 Proprietary 1010 Fund Balance With Treasury 10,000 5800 Tax Revenue Collected 10,000 2. The receipts are immediately invested in a U.S. Treasury Security issued by the Bureau of the Fiscal Service. The security has a par value of $10,000 and was purchased at a discount of $2,000.2 (TC B128) Budgetary None Proprietary 1610 Investments in U.S. Treasury Securities Issued by Fiscal Service 10,000 1611 Discount on U.S. Treasury Securities Issued by Fiscal Service 2,000 1010 Fund Balance With Treasury 8,000 1 The transactions in this scenario combine the activity of the receipt and expenditure accounts into one. The receiptexpenditure account relationship is described in more detail in the Introduction of the Guide. 2 This is a basic transaction to illustrate that the receipts collected are immediately invested. Investment transactions are kept to a minimum in this scenario in order to focus attention on the accounting for receipts that are available for investment but not obligation. Refer to Scenario IV, Trust Fund Investments, as well as Section III - Accounting Transactions of TFM S2- 01-02 (as updated) for more detailed guidance on trust fund investments. Year 1 3. To record interest receivable on the Treasury security. This is not a budgetary resource until collected. (TC C215) Budgetary None Proprietary 1340 Interest Receivable 1,000 5310 Interest Revenue 1,000 4. To record the amortization of the discount on the Treasury security. (TC D510) Budgetary None Proprietary 1613 Amortization of Discount and Premium on U.S. Treasury Securities Issued by Fiscal Service 500 5310 Interest Revenue 500 Year 1 Budgetary Pre-Closing Adjusted Trial Balance (FACTS II ATB): 4114 10,000 10,000 4394 10,000 Budgetary Closing Entry: C1. To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 10,000 4114 Appropriated Trust or Special Fund Receipts 10,000 Budgetary Post-closing Trial Balance: 10,000 4201 10,000 10,000 4394 10,000 10,000 Year 1 Proprietary Pre-Closing Trial Balance (FACTS I Trial Balance): 1010 2,000 1340 1,000 1610 10,000 2,000 1611 1613 500 1,500 5310 10,000 5800 13,500 Proprietary Closing Entry: C1. To record the closing of revenues to cumulative results of operations. (TC F228) 5310 Interest Revenue 1,500 5800 Tax Revenue Collected 10,000 3310 Cumulative Results of Operations 11,500 Proprietary Post-Closing Trial Balance: 13,500 1010 2,000 1340 1,000 1610 10,000 2,000 1611 1613 500 11,500 3310 13,500 13,500 Year 1 SF 133: Report on Budget Execution and Budgetary Resources (Quarter 4): 1A Appropriations (4114E) 10,000 (4394E-B) (10,000) 2A Unobligated Balance Brought Forward 0 7 Total Budgetary Resources 0 11 Total Status of Budgetary Resources 0 USSGL 2108: Year-end Closing Statement: Column 5 Post-Closing Unexpended Balance (1010E) 2,000 Column 6 Other Authorizations (1610E) 10,000 1611E (2,000) Column 11 Unobligated Balance (4394E) 10,000 Year 1 Program and Financing Schedule (P&F): Obligations by Program Activity 1000 Total new obligations 0 Budgetary Resources Available for Obligation 2140 Unobligated balance available, start of year 0 2200 New budget authority(gross) (sum 4000 to 6990) 0 2395 Total new obligations (-) (from line 1000) 0 2499 Unobligated balance carried forward, end of year 0 New Budgetary Authority (Gross), Detail 4026 Appropriation (trust fund, definite) (4114E + 4394E-B) 0 7000 Total new budget authority (gross) (4114E + 4394E-B) 0 Memorandum Entries 9201 Total investments, start of year (par) (1610B) 0 9202 Total investments, end of year (par) (1610E) 10,000 Year 1 OMB Form and Content Statements Balance Sheet ASSETS 1A1 Fund Balance With Treasury (1010E) 2,000 1A4 Investments (1340E, 1610E, 1611E, 1613E) 9,500 LIABILITIES and NET POSITION 6B Cumulative Results of Operations (3310E) 11,500 Statement of Net Cost 1 Program Costs 0 1D Less Earned Revenue 03 4 Net Cost of Operations (calculation) 0 Statement of Changes in Net Position 1 Net Cost of Operations 0 2B Taxes (and other nonexchange revenue) (5310E, 5800E) 11,500 9 Net Position - End of Period (calculation) 11,500 3 For most trust funds, invested balances are derived predominantly from earmarked taxes and other non-exchange revenue. Accordingly, the interest earned is classified as non-exchange, thus not deducted from the gross cost of operations. For those trust funds, however, where the main source of balances consist of exchange revenue (e.g. Civil Service Retirement and Disability fund), the interest shall be classified as exchange, and thus deducted from the gross cost of operations. (See SFFAS #7, &306-308). Year 1 OMB Form and Content Statements (continued) Statement of Budgetary Resources 1A Budget Authority - Appropriations (4114E, 4394E-B) 0 5 Total Budgetary Resources 0 6 Obligations Incurred 0 7B Unobligated - Exempt from Apportionment (4620E) 0 9 Total Status of Budgetary Resources 0 10 Obligations Incurred (4902E) 0 Statement of Financing 1 Obligations and Nonbudgetary Resources 0 2 Resources That Do Not Fund Net Cost of Operations 0 3 Components of Costs of Operations That Do Not Require or Generate Resources 0 4 Financing Sources Yet to be Provided 0 5 Net Cost of Operations 0 Year 2 1. To record the collection of excise taxes from the public into an available trust fund receipt account. Because the trust fund is designated as available, the receipts are automatically credited to the corresponding expenditure account, so that they may be invested. Assume that the legislation for this trust fund states that receipts are not available for obligation until the next fiscal year. (TC A188) Budgetary 4114 Appropriated Trust or Special Fund Receipts 7,000 4394 Receipts Not Available for Obligation Upon Collection 7,000 Proprietary 1010 Fund Balance With Treasury 7,000 5800 Tax Revenue Collected 7,000 2. The receipts are immediately invested in a U.S. Treasury Security issued by the Bureau of the Fiscal Service. The security has a par value of $7,000 and was purchased at a premium of $500. (OMB Circular A-34 requires that purchased premiums are to be recorded as a reduction of receipts.) (TC B126) Budgetary 4394 Receipts Not Available for Obligation Upon Collection 500 4114 Appropriated Trust or Special Fund Receipts 500 Proprietary 1610 Investments in U.S. Treasury Securities Issued by Fiscal Service 7,000 1612 Premium on U.S. Treasury Securities Issued by Fiscal Service 500 1010 Fund Balance With Treasury 7,500 Year 2 3. To record collection of interest on a prior year investment. The legislation states that interest on investments is not available for obligation.4 (TC A196) Budgetary 4114 Appropriated Trust or Special Fund Receipts 1,000 4394 Receipts Not Available for Obligation Upon Collection 1,000 Proprietary 1010 Fund Balance With Treasury 1,000 1340 Interest Receivable 1,000 4. To record the portion of the prior-year=s receipts that become available for obligation, based upon conditions met in the legislation. Assume that this trust fund is not subject to apportionment.5 (TC A190) Budgetary 4394 Receipts Not Available for Obligation Upon Collection 2,000 4620 Unobligated Funds Not Subject to Apportionment 2,000 Proprietary None 5. To record the amortization of the discount and premium on the Treasury securities. (TC D510) Budgetary None Proprietary 1613 Amortization of Discount and Premium on U.S. Treasury Securities Issued by Fiscal Service 300 5310 Interest Revenue 300 5310 Interest Revenue 200 1613 Amortization of Discount and Premium on U.S. Treasury Securities Issued by Fiscal Service 200 4 If the legislation defines investment interest as available, credit the appropriate USSGL status account (e.g. 4450, 4620) instead of 4394. 5 For trust funds subject to apportionment, refer to Section III - Accounting Transactions of TFM S2-01-02 (as updated) for additional transactions. Year 2 Budgetary Pre-Closing Adjusted Trial Balance (FACTS II ATB): 4114 7,500 4201 10,000 4394 15,500 2,000 4620 17,500 Budgetary Closing Entry: C1. To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 7,500 4114 Appropriated Trust or Special Fund Receipts 7,500 Budgetary Post-closing Trial Balance: 17,500 4201 17,500 4620 2,000 15,500 4394 17,500 17,500 Year 2 Proprietary Pre-Closing Trial Balance (FACTS I Trial Balance): 1010 2,500 1610 17,000 2,000 1611 1612 500 1613 600 11,500 3310 100 5310 7,000 5800 20,600 Proprietary Closing Entry: C1. To record the closing of revenues to cumulative results of operations. (TC F228) 20,600 5310 Interest Revenue 100 5800 Tax Revenue Collected 7,000 3310 Cumulative Results of Operations 7,100 Year 2 Proprietary Post-Closing Trial Balance: 1010 2,500 1610 17,000 2,000 1611 1612 500 1613 600 18,600 3310 20,600 20,600 Year 2 SF 133: Report on Budget Execution and Budgetary Resources (Quarter 4): 1A Appropriations (4114E) 7,500 (4394E-B) (5,500) 2A Unobligated Balance Brought Forward (4201B) 10,000 (4394B) (10,000) 7 Total Budgetary Resources 2,000 9. Unobligated Balances Available (4620E) 2,000 11 Total Status of Budgetary Resources 2,000 USSGL 2108: Year-end Closing Statement: Column 5 Post-Closing Unexpended Balance (1010E) 2,500 Column 6 Other Authorizations (1610E) 17,000 (1611E) (2,000) Column 11 Unobligated Balance (4620E) 2,000 (4394E) 15,500 Year 2 Program and Financing Schedule (P&F): Obligations by Program Activity 1000 Total new obligations (4902E) 0 Budgetary Resources Available for Obligation 2140 Unobligated balance available, start of year 0 2200 New budget authority(gross) (sum 4000 to 6990) 2,000 2395 Total new obligations (-) (from line 1000) 0 2499 Unobligated balance carried forward, end of year 2,000 New Budgetary Authority (Gross), Detail 4026 Appropriation (trust fund, definite) (4114E + 4394E-B) 2,000 7000 Total new budget authority (gross) (4114E + 4394E-B) 2,000 Memorandum Entries 9201 Total investments, start of year (par) (1610B) 10,000 9202 Total investments, end of year (par) (1610E) 17,000 Year 2 OMB Form and Content Statements Balance Sheet ASSETS 1A1 Fund Balance With Treasury (1010E) 2,500 1A4 Investments (1610E, 1611E, 1612E, 1613E) 16,100 LIABILITIES and NET POSITION 6B Cumulative Results of Operations (3310E) 18,600 Statement of Net Cost 1 Program Costs 0 1D Less Earned Revenue 06 4 Net Cost of Operations (calculation) 0 Statement of Changes in Net Position 1 Net Cost of Operations 0 2B Taxes (and other nonexchange revenue) (5310E, 5800E) 7,100 7 Net Position - Beginning of Period (3310B) 11,500 9 Net Position - End of Period (calculation) 18,600 6 For most trust funds, invested balances are derived predominantly from earmarked taxes and other non-exchange revenue. Accordingly, the interest earned is classified as non-exchange, thus not deducted from the gross cost of operations. For those trust funds, however, where the main source of balances consist of exchange revenue (e.g. Civil Service Retirement and Disability fund), the interest shall be classified as exchange, and thus deducted from the gross cost of operations. (See SFFAS #7, &306-308). Year 2 OMB Form and Content Statements (continued) Statement of Budgetary Resources 1A Budget Authority - Appropriations (4114E, 4394E-B) 2,000 5 Total Budgetary Resources 2,000 6 Obligations Incurred 0 7B Unobligated - Exempt from Apportionment (4620E) 2,000 9 Total Status of Budgetary Resources 2,000 10 Obligations Incurred (4902E) 0 Statement of Financing 5 Obligations and Nonbudgetary Resources 0 6 Resources That Do Not Fund Net Cost of Operations 0 3 Components of Costs of Operations That Do Not Require or Generate Resources 0 7 Financing Sources Yet to be Provided 0 5 Net Cost of Operations 0 Federal trust funds are managed by either a Federal program agency or by Fiscal Service on behalf of an agency. The managing entities make the investment decisions. The Secretary of the Treasury administers the investment programs for Federal accounts authorized by law to invest in U.S. Government interest-bearing obligations. Treasury’s role is twofold: 1) to act as executor of investment decisions directed by Federal program agencies (for agency-managed trust funds) and 2) to maintain the role of managing trustee (for Treasury-managed trust funds), wherein Treasury makes and executes investment decisions for certain funds. Fiscal Service administers these two mission-critical functions. Scenario IV applies to both agency-managed and Treasury-managed trust funds. The entity that manages the fund, which would be either the agency or Fiscal Service acting on behalf of the agency, records the transactions outlined herein. Federal trust fund receipts can be invested in various types of securities, but appropriate authorization is required. Trust fund investments are primarily in public debt securities, issued by Fiscal Service, with maturities suitable to meet the needs of the fund. Investments in public debt securities are treated as an exchange of an asset. Scenario IV addresses these types of investments. A small number of trust funds are authorized to invest in non-Federal securities (securities held outside of the Government). Investments in non-Federal securities are treated as a purchase of an asset, rather than as an exchange of an asset. An obligation and an outlay must be recorded for the purchase. Investments in non-Federal securities are less common, and therefore are not covered in this scenario. Even fewer trust funds are authorized to invest in agency securities, whereby one agency purchases securities issued by another agency. This type of investment, which is also uncommon in the Federal Government, requires specific authorization and is not covered in this scenario. Refer to OMB Circular A-34 for additional reporting guidance, and to the USSGL Web site for guidance on accounting for agency securities. For trust funds managed by Federal program agencies (e.g., Civil Service Retirement and Disability Trust Fund), program agencies are responsible for determining the amounts to be invested and the terms of the investments. Agencies also are responsible for calling Fiscal Service with specific investment/redemption orders and reporting investment activity via the SF 224: Statement of Transactions, (SF 133, USSGL 2108, P&F), and on the agency financial statements. For trust funds managed by Fiscal Service (e.g., Federal Old-Age and Survivors Insurance Trust Fund, Unemployment Trust Fund), Fiscal Service is responsible for administering and monitoring the daily activities of the managed trust funds for receipts, investments, redemptions, and interest calculations. Unlike agency-managed trust funds, Fiscal Service reports the investment activity via the SF 224 for the trust funds it manages. Fiscal Service also reports the appropriate investment figures through FACTS II and provides the same information to the agency responsible for FACTS I reporting and the agency financial statements. This scenario is specific to trust funds, and illustrates basic investment transactions. For additional transactions and reporting requirements, refer to OMB Circulars A-34 and A-11; TFM Volume I Part 2 - Chapter 4300: Intragovernmental Fiduciary Transactions Accounting Guide; TFM Volume I Part 2 - Chapter 4300, T/L 587: Reporting Instructions for Accounts Invested in Department of the Treasury Securities; and additional individualized scenarios developed by the USSGL staff (located on the USSGL Web site). Scenario Assumptions The following assumptions apply to Scenario IV: Receipts of this trust fund consist of predominantly non-exchange revenue. Therefore, the interest earned on investments is classified as non-exchange. For guidance on interest classified as exchange, refer to SFFAS #7, Accounting for Revenue and Other Financing Sources, paragraphs 306-308. The programs of the investing entity are not subject to apportionment. Refer to Section III, Accounting Transactions, of TFM S2-01-02 (as updated) for comprehensive transactions that include accounting for programs that are subject to apportionment. 1. To record the collection of tax receipts that are deposited into a trust fund receipt account. The receipts are automatically credited to the corresponding expenditure account, whereby they can be invested.1 (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 1,000,000 4620 Unobligated Funds Not Subject to Apportionment 1,000,000 Proprietary 1010 Fund Balance With Treasury 1,000,000 5800 Tax Revenue Collected 1,000,000 2. To record the immediate investment of the receipts in U.S. Treasury Security A issued by the Bureau of the Fiscal Service. The security has a par value of $1,000,000 and was purchased at a discount of $200,000. (TC B128) Budgetary None Proprietary 1610 Investments in U.S. Treasury Securities Issued by Fiscal Service 1,000,000 1611 Discount on U.S. Treasury Securities Issued by Fiscal Service 200,000 1010 Fund Balance With Treasury 800,000 1 The transactions in this scenario combine the activity of the receipt and expenditure accounts into one. The receiptexpenditure account relationship is described in more detail in the Introduction of the Guide. 3. To record the collection of additional receipts that are deposited into the trust fund receipt account. The receipts are automatically credited to the corresponding expenditure account, whereby they can be invested. (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 5,000,000 4620 Unobligated Funds Not Subject to Apportionment 5,000,000 Proprietary 1010 Fund Balance With Treasury 5,000,000 5800 Tax Revenue Collected 5,000,000 4. To record the immediate investment of the receipts in U.S. Treasury Security B issued by the Bureau of the Fiscal Service. The security has a par value of $5,000,000 and was purchased for a premium of $10,000. (TC B126) Budgetary 4620 Unobligated Funds Not Subject to Apportionment 10,000 4114 Appropriated Trust or Special Fund Receipts 10,000 Proprietary 1610 Investments in U.S. Treasury Securities Issued by Fiscal Service 5,000,000 1612 Premium on U.S. Treasury Securities Issued by Fiscal Service 10,000 1010 Fund Balance With Treasury 5,010,000 5. To record accrued interest receivable for Securities A and B. Budgetary resources are not recorded until interest is collected. (TC C215) Budgetary None Proprietary 1340 Interest Receivable 101,000 5310 Interest Revenue 101,000 6. To record the maturity of Security A. A. To record the amortization of the discount. (TC D510) Budgetary None Proprietary 1613 Amortization of Discount and Premium on U.S. Treasury Securities Issued by Fiscal Service 200,000 5310 Interest Revenue 200,000 B. To record the redemption. (TC C124) Budgetary 4114 Appropriated Trust or Special Fund Receipts 200,000 4620 Unobligated Funds Not Subject to Apportionment 200,000 Proprietary 1010 Fund Balance With Treasury 1,000,000 1610 Investments in U.S. Treasury Securities Issued by Fiscal Service 1,000,000 1611 Discount on U.S. Treasury Securities Issued by Fiscal Service 200,000 1613 Amortization of Discount and Premium on U.S. Treasury Securities Issued by Fiscal Service 200,000 7. To record the obligation and disbursement of funds to non-Federal recipients. Investments redeemed in the previous transaction are enough to cover disbursement needs. (TC B107) Budgetary 4620 Unobligated Funds Not Subject to Apportionment 12,000 4902 Delivered Orders - Obligations, Paid 12,000 Proprietary 6100 Operating Expenses/Program Costs 12,000 1010 Fund Balance With Treasury 12,000 8. To record the maturity of Security B. A. To record the collection of interest deposited into the trust fund receipt account. (TC A196) Budgetary 4114 Appropriated Trust or Special Fund Receipts 100,000 4620 Unobligated Funds Not Subject to Apportionment 100,000 Proprietary 1010 Fund Balance With Treasury 100,000 1340 Interest Receivable 100,000 B. To record the amortization of the premium. (TC D510) Budgetary None Proprietary 5310 Interest Revenue 10,000 1613 Amortization of Discount and Premium on U.S. Treasury Securities Issued by Fiscal Service 10,000 C. To record the redemption. Budgetary resources were previously reduced for premium at the time of purchase. (TC C122) Budgetary None Proprietary 1010 Fund Balance With Treasury 5,000,000 1610 Investments in U.S. Treasury Securities Issued by Fiscal Service 5,000,000 1613 Amortization of Discount and Premium on U.S. Treasury Securities Issued by Fiscal Service 10,000 1612 Premium on U.S. Treasury Securities Issued by Fiscal Service 10,000 9. To record the collection of additional receipts that are deposited into the trust fund receipt account. The receipts are automatically credited to the corresponding expenditure account, whereby they can be invested. (TC A186) Budgetary 4114 Appropriated Trust or Special Fund Receipts 500,000 4620 Unobligated Funds Not Subject to Apportionment 500,000 Proprietary 1010 Fund Balance With Treasury 500,000 5800 Tax Revenue Collected 500,000 10. To record the immediate investment of the receipts in U.S. Treasury Security C issued by the Bureau of the Fiscal Service. The security has a par value of $500,000 and was purchased at a discount of $40,000. (TC B128) Budgetary None Proprietary 1610 Investments in U.S. Treasury Securities Issued by Fiscal Service 500,000 1611 Discount on U.S. Treasury Securities Issued by Fiscal Service 40,000 1010 Fund Balance With Treasury 460,000 11. To record the amortization of the discount for Security C. (TC D510) Budgetary None Proprietary 1613 Amortization of Discount and Premium on U.S. Treasury Securities Issued by Fiscal Service 10,000 5310 Interest Revenue 10,000 Note: For those trust funds with receipts that are limited to the year=s obligations, an adjusting entry is required. Follow the guidance in Scenario II: Trust Fund Balances Precluded from Obligation for treatment of unobligated balances. Budgetary Pre-Closing Adjusted Trial Balance (FACTS II ATB): 4114 6,790,000 6,778,000 4620 12,000 4902 6,790,000 Budgetary Closing Entries: C1. To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 6,790,000 4114 Appropriated Trust or Special Fund Receipts 6,790,000 C2. To record the closing of Expended Authority - Paid. (TC F214) 4902 Delivered Orders - Obligations, Paid 12,000 4201 Total Actual Resources - Collected 12,000 Budgetary Post-Closing Trial Balance: 6,790,000 4201 6,778,000 6,778,000 4620 6,778,000 6,778,000 Proprietary Pre-Closing Trial Balance (FACTS I Trial Balance): 1010 6,318,000 1340 1,000 1610 500,000 40,000 1611 1613 10,000 301,000 5310 6,500,000 5800 6100 12,000 6,841,000 Proprietary Closing Entries: C1. To record the closing of revenues and expenses to cumulative results of operations. (TC F228) 5310 Interest Revenue 301,000 5800 Tax Revenue Collected 6,500,000 3310 Cumulative Results of Operations 6,789,000 6100 Operating Expenses/Program Costs 12,000 Proprietary Post-Closing Trial Balance: 6,841,000 1010 6,318,000 1340 1,000 1610 500,000 40,000 1611 1613 10,000 6,789,000 3310 6,829,000 6,829,000 SF 133: Report on Budget Execution and Budgetary Resources (Quarter 4): 1A Appropriations (4114E) 6,790,000 2A Unobligated Balance Brought Forward 3 Spending Authority from Offsetting Collections 5 Temporarily Not Available Pursuant to Public Law 7 Total Budgetary Resources 6,790,000 8A1 Obligations Incurred, Direct 8A3 Obligations Incurred, Direct, Not Subject to Apportionment (4902E) 12,000 9 Unobligated Balances Available (4620E) 6,778,000 11 Total Status of Budgetary Resources 6,790,000 12. Obligated Balance, Net as of October 1 13. Obligated Balance Transferred, Net 14. Obligated Balance, Net, End of Period 15A. Disbursements (4902E) 12,000 USSGL 2108: Year-end Closing Statement: Column 5 Post-Closing Unexpended Balance (1010E) 6,318,000 Column 6 Other Authorizations (1610E, 1611E) 460,000 Column 11 Unobligated Balance (4620E) 6,778,000 Program and Financing Schedule (P&F): Obligations by Program Activity 1000 Total new obligations (4902E) 12,000 Budgetary Resources Available for Obligation 2140 Unobligated balance available, start of year 0 2200 New budget authority(gross) (sum 4000 to 6990) 6,790,000 2395 Total new obligations (-) (from line 1000) (12,000) 2499 Unobligated balance carried forward, end of year (4620E) 6,778,000 New Budgetary Authority (Gross), Detail 4026 Appropriation (trust fund, definite) (4114E) 6,790,000 7000 Total new budget authority (gross) (4114E) 6,790,000 Memorandum Entries 9201 Total investments, start of year (par) (1610B) 0 9202 Total investments, end of year (par) (1610E) 500,000 OMB Form and Content Statements Balance Sheet ASSETS 1A1 Fund Balance With Treasury (1010E) 6,318,000 1A4 Investments (1340E, 1610E, 1611E, 1613E) 471,000 LIABILITIES and NET POSITION 6B Cumulative Results of Operations (3310E) 6,789,000 Statement of Net Cost 1 Program Costs - Public - Production (6100E) 12,000 1D Less Earned Revenue 02 4 Net Cost of Operations (calculation) 12,000 Statement of Changes in Net Position 1 Net Cost of Operations 12,000 2B Taxes (and other nonexchange revenue) (5310E, 5800E) 6,801,000 9 Net Position - End of Period (calculation 2-1) 6,789,000 2 For most trust funds, invested balances are derived predominantly from earmarked taxes and other non-exchange revenue. Accordingly, the interest earned is classified as non-exchange, thus not deducted from the gross cost of operations. For those trust funds, however, where the main source of balances consist of exchange revenue (e.g. Civil Service Retirement and Disability fund), the interest shall be classified as exchange, and thus deducted from the gross cost of operations. (See SFFAS #7, &306-308). OMB Form and Content Statements (continued) Statement of Budgetary Resources 1A Budget Authority - Appropriations (4114E) 6,790,000 5 Total Budgetary Resources 6,790,000 6 Obligations Incurred (4902E) 12,000 7B Unobligated - Exempt from Apportionment (4620E) 6,778,000 9 Total Status of Budgetary Resources 6,790,000 10. Obligations Incurred (4902E) 12,000 Statement of Financing 1 Obligations and Nonbudgetary Resources (4902E) 12,000 2 Resources That Do Not Fund Net Cost of Operations 0 3 Components of Costs of Operations That Do Not Require or Generate Resources 0 4 Financing Sources Yet to be Provided 0 5 Net Cost of Operations 12,000 Scenario V Treasury-Managed Trust Fund Allocation Accounts Treasury-managed trust funds are a unique group of accounts in that the law has designated the Secretary of Treasury to act as managing trustee for a named group of trust funds. Fiscal Service administers this function. Treasury-managed trust funds are comprised of an individual TAFS reported by Fiscal Service (referred to as the "corpus account"), and an individual TAFS reported by the program agency (referred to as the "agency account"). In most instances, Fiscal Service TAFS are structured as 20X8000; the "20" indicates Treasury, "X" represents the period of availability, and "8000" represents the trust fund series. The agency TAFS are established in one of two ways: either as a separate appropriation fund symbol (i.e., 69X8123) or as a transfer appropriation symbol, which is commonly referred to as an allocation account (i.e., 75- 20X8000). Allocation accounts are symbolized by adding the receiving agency's department prefix to the original appropriation fund symbol. In the example above, the "75" represents the U.S. Department of Health and Human Services. The scenario that follows was developed for the allocation-type Treasury-managed trust funds. Refer to Scenario VI, Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols, for transactions between specific Treasury-managed trust funds and other trust fund appropriation accounts. In appearance, the Treasury-managed trust fund allocation accounts resemble general fund allocation accounts, but in practice there are several differences. First, most trust funds have investment authority, while general funds typically do not. Investment authority resides with the corpus account and is managed by Fiscal Service. Because Fiscal Service manages the trust fund's investments in the corpus account and the agency manages the trust fund's obligations and disbursements in the allocation account, sound cash management principles must be enforced. This is discussed in more detail below. Second, yearend reporting requirements for the Treasury-managed trust fund allocation accounts require that any amounts receivable or payable between the corpus and agency accounts either net to zero or be eliminated. This concept affects the SF 133, USSGL 2108, and P&F presentations, as well as agency and Governmentwide financial statement presentations. Scenario V illustrates this theory. The flowchart at the beginning of this section illustrates the basic framework and flow of activity within a Treasury-managed trust fund allocation account. Receipts are recorded in the corpus account and then invested based upon the terms stipulated by statute or trust agreement. As funds are needed by the agency account for disbursement, the program agency contacts Fiscal Service for a transfer of funds (accomplished via SF 1151). The Fiscal Service then disinvests the funds so that the transfer may be accomplished. The Treasury-managed trust fund allocation accounts also record nonexpenditure transfers that occur between other trust funds, as well as expenditure transfers with Federal funds. (Refer to Scenario I, Basic Trust Fund Accounting.) In contrast with other Federal nonexpenditure transfers, transfers between trust fund corpus accounts and agency allocation accounts require different accounting and reporting treatment. To maintain sound cash management principles, funds remain invested until needed for disbursement to maximize interest earned. Since Fiscal Service performs the investment function, and the program agency performs the obligation and disbursement function, a budgetary mechanism is sometimes needed to transfer the budget authority prior to actually transferring the funds. That mechanism results in a receivable and payable transaction recorded by each entity. V - 1 Scenario V Treasury-Managed Trust Fund Allocation Accounts Another notable concept is that the corpus TAFS consists of one or more receipt accounts (i.e., 20X8000.001, 20X8000.002) and a corresponding expenditure account (i.e., 20X8000). Trust fund receipts are often comprised of taxes, customs duties, fines, penalties, etc., and are first credited to a trust fund receipt account. Because the law designates the Treasury-managed trust fund receipt accounts subject to this guidance as available for expenditure, the receipts are automatically credited to the corresponding expenditure account. There is no current requirement to have separate USSGL accounting for available trust fund receipt accounts; therefore, the following transactions combine activity of receipt and expenditure accounts. Below are the USSGL accounts commonly used by Treasury-managed trust fund allocation accounts. 1330 Receivable for Transfers of Currently Invested Balances 2150 Payable for Transfers of Currently Invested Balances 4165 Allocations of Authority - Anticipated from Invested Balances 4166 Allocations of Realized Authority - To Be Transferred from Invested Balances 4167 Allocations of Realized Authority - Transferred from Invested Balances 5755 Nonexpenditure Financing Sources - Transfers-In 5765 Nonexpenditure Financing Sources - Transfers-Out The scenario also illustrates the unique reporting requirements for budgetary and proprietary transactions. For FACTS I (proprietary) and OMB Form and Content reporting, the agency account consolidates the data from the corpus account and reports the trust fund as a whole. For FACTS II (primarily budgetary) reporting (SF 133, USSGL 2108, P&F), each TAFS submits its portion of the activity, and then Treasury and OMB merge the data. V - 2 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) 1. To record amounts anticipated by Agency for transfer from the corpus account. This is based upon an SF 132: Apportionment and Reapportionment Schedule request. N/A 1. To record amounts anticipated by Agency for transfer from the corpus account. This is based upon an SF 132: Apportionment and Reapportionment Schedule request. (TC A204) Budgetary 4165 Allocations of Authority - Anticipated from Invested Balances 50,000 4450 Unapportioned Authority 50,000 Proprietary None 2. To record receipts credited to the corpus account. (Note: This transaction combines the activity of the receipt and expenditure accounts.) (TC A186) 2. To record receipts credited to the corpus account. (Note: This transaction combines the activity of the receipt and expenditure accounts.) N/A Budgetary 4114 Appropriated Trust or Special Fd Receipts 70,000 4620 Unob Fds Not Subject to Apport 70,000 Proprietary 1010 Fund Balance With Treasury 70,000 5800 Tax Revenue Collected 70,000 V - 3 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) 3. To record the investment of receipts in par value securities issued by the Bureau of the Fiscal Service.1 (TC B124) Budgetary None Proprietary 1610 Investments in U.S. Treas. Securities Issued by Fiscal Service 70,000 1010 Fund Balance With Treasury 70,000 3. To record the investment of receipts in par value securities issued by the Bureau of the Fiscal Service. N/A 4. To record apportionment of funds based on an approved SF 132: Apportionment and Reapportionment Schedule. 4. To record apportionment of funds anticipated in transaction #1 based on an approved SF 132: Apportionment and Reapportionment Schedule. (TC A116) N/A Budgetary 4450 Unapportioned Authority 50,000 4510 Apportionments 50,000 Proprietary None 1 This is a basic transaction to illustrate that the receipts collected by the corpus account are immediately invested. No further investment activity is reflected in this scenario. Refer to Scenario IV, Trust Fund Investments, as well as Section III - Accounting Transactions of TFM S2-01-02 (as updated) for more detailed guidance on trust fund investments. V - 4 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) 5. To record receivables/payables for the transfer of authority and financing sources. This may be based upon an amount specified in an annual appropriation act, or based upon an agency's authority to obligate. A. To record a payable prior to the SF 1151: Nonexpenditure Transfer Authorization request.2 (TC A223) 5. To record receivables/payables for the transfer of authority and financing sources. This may be based upon an amount specified in an annual appropriation act, or based upon an agency's authority to obligate. A. To record a receivable prior to the SF 1151: Nonexpenditure Transfer Authorization request.2 (TC A217) Budgetary 4620 Unob Fds Not Subject to Apport 25,000 4166 Allocations of Realized Authority - To Be Transferred from Invested Bal 25,000 Proprietary 5765 Nonexpenditure Financing Sources – Transfers-Out 25,000 2150 Payable for Transf of Currently Invested Balances 25,000 Budgetary 4166 Allocations of Realized Authority - To Be Transferred from Invested Balances 25,000 41653 Allocations of Authority - Anticipated from Invested Balances 25,000 Proprietary 1330 Receiv for Transf of Curr Invested Bal 25,000 5755 Nonexpenditure Financing Sources - Transfers-In 25,000 2 Proprietary receivable/payable transactions within Treasury-managed trust fund allocation accounts must be eliminated for agency and government-wide financial statements. For FACTS I (proprietary) reporting, one trial balance is submitted by the Agency containing the appropriate data for both accounts. The elimination entry related to this transaction is illustrated after the Post-closing Trial Balance. 3 For activity that is not subject to apportionment, a credit to USSGL account 4620 Unobligated Funds Not Subject to Apportionment may be appropriate. Refer to Section III - Accounting Transactions of TFM S2-01-02 (as updated) for more comprehensive transactions. V - 5 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) B. To record obligations incurred. N/A B. To record obligations incurred. (TC A120, B202, B204) Budgetary 4510 Apportionments 25,000 48014 Undelivered Orders - Obligations, Unpaid 25,000 Proprietary None 4 This step may be skipped for activity that goes directly to expended authority (USSGL 49xx series). Refer to Section III - Accounting Transactions of TFM S2-01-02 (as updated) for more comprehensive transactions. V - 6 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) 6. To record payable for expenses incurred. 6. To record payable for expenses incurred. (TC B302) Budgetary 4801 Unexpended Obligations – Unpaid 25,000 4901 Delivered Orders - Obligations, Unpaid 25,000 N/A Proprietary 6100 Operating Expenses/Program Costs 25,000 2110 Accounts Payable 25,000 V - 7 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) Budgetary: Adjusting Entry Budgetary: Adjusting Entry A1) To record appropriated receipts temporarily precluded from obligation. (TC A127) 4620 Unoblig Fds Not Subject to Apport 45,000 43975 Receipts and Approps Temp Precluded from Obligation 45,000 A1) To record adjustments for anticipated resources not realized. (TC F112) 4450 Unapportioned Authority 25,000 4165 Allocations of Authority - Anticipated from Invested Balances 25,000 5 Many of the Treasury-managed trust fund allocation accounts have limitations on obligations. For those that do not, follow the guidance in Scenario I, Basic Trust Fund Accounting, of this Guide. For those that do, refer to Scenario II, Trust Fund Balances Precluded from Obligation, for a more detailed illustration. V - 8 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) Budgetary: Pre-closing Adjusted Trial Balance (FACTS II submission) Budgetary: Pre-closing Adjusted Trial Balance (FACTS II submission) 4114 70,000 4166 25,000 25,000 4166 4450 25,000 45,000 4397 25,000 4510 25,000 4901 70,000 70,000 50,000 50,000 V - 9 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) Budgetary: Closing Entry C1) To record the consolidation of actual net-funded resources (TC F204) 4201 Total Actual Resources - Collected 70,000 Budgetary: Closing Entry C1) To record the closing of unobligated balances to unapportioned authority. (TC F210) 4510 Apportionments 25,000 4450 Unapportioned Authority 25,000 Post-closing Trial Balance 4114 Appropriated Trust or Special Fund Receipts 70,000 Post-closing Trial Balance 25,000 4166 4166 25,000 4201 70,000 25,000 4901 45,000 4397 25,000 25,000 70,000 70,000 V - 10 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) Proprietary: Pre-closing Trial Balance Proprietary: Pre-closing Trial Balance 1610 70,000 1330 25,000 25,000 2150 25,000 2110 5765 25,000 25,000 5755 70,000 5800 6100 25,000 95,000 Closing Entry C1) To record the closing of revenue and other financing sources accounts to cumulative results of operations. (TC F228) 5800 Tax Revenue Collected 70,000 3310 Cum. Results of Operations 45,000 5765 Nonexpenditure Financing 95,000 50,000 Closing Entry C1) To record the closing of expense and other financing source accounts to cumulative results of operations. (TC F228) 50,000 5755 Nonexpenditure Financing Sources - Transfers-In 25,000 3310 Cum. Results of Operations 25,000 3310 Cumulative Results of Operations 25,000 6100 Operating Expenses/Program Sources - Transfers-Out 25,000 Costs 25,000 V - 11 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) Proprietary: Post-closing Trial Balance Proprietary: Post-closing Trial Balance 1330 25,000 1610 70,000 25,000 25,000 2150 2110 3310 45,000 25,000 25,000 70,000 70,000 V - 12 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) Proprietary: N/A Proprietary: Eliminating Entry6 E1) To eliminate proprietary receivables and payables between the corpus and agency accounts, prior to the FACTS I trial balance submission. 2150 Payable for Transfers of Curr. Invested Bal. 25,000 1330 Receivable for Transfers of Currently Invested Balances 25,000 5755 Nonexpenditure Financing Sources - Trans-In 25,000 5765 Nonexpenditure Financing Sources - Transfers-Out 25,000 FACTS I Trial Balance (Pre-closing) (Consolidated Corpus and Agency account) 1610 70,000 25,000 2110 70,000 5800 6100 25,000 95,000 95,000 6 Keep this entry separate from the main general ledger. This entry is necessary for accurate agency and government-wide (FACTS I) financial statement presentations. V - 13 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 SF-133: Report on Budget Execution and Budgetary Resources (Year-End)7 BUDGETARY RESOURCES Corpus Account Agency Account 1. Budget Authority A. Appropriations (4114E) 70,000 0 D. Net Transfers, Current Year Authority Realized (4166E-B) (25,000) 25,000 2. Unobligated Balance (4166B) 0 0 5. Temporarily Not Available Pursuant to Public Law (4397E-B) (45,000) 7. Total Budgetary Resources 0 25,000 STATUS OF BUDGETARY RESOURCES 8. Obligations Incurred (4901E-B) 0 25,000 10. Unobligated Balances (Not Available) (4450E, 4510E) 0 0 11. Total, Status of Budgetary Resources 0 25,000 RELATION OF OBLIGATIONS TO OUTLAYS 14. Obligated Balance, Net, End of Period D. (4901E) 0 25,000 15. Outlays A. Disbursements (4902E) 0 0 B. Collection 7 The corpus and agency accounts submit budget data separately via FACTS II. SF 133 data is extracted and consolidated by OMB. V - 14 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 USSGL 2108: Year-End Closing Statement8 Corpus Account Agency Account Column 6 Other Authorizations (1610E) 70,000 0 Column 7 Reimbursements Earned (4166E)9 (25,000) 25,000 Column 10 Accounts Payable (4901E) 0 25,000 Column 11 Unobligated Balance (4397E, 4450E, 4510E) 45,000 0 8 The corpus and agency accounts submit budget data separately via FACTS II. USSGL 2108 data is extracted and consolidated by Treasury. 9 The receivable/payable amounts to be transferred (USSGL account 4166) reflected in Column 7 must net to zero when combined. V - 15 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 CONSOLIDATED Schedule P - Program & Financing10 Budgetary Resources Available for Obligation 2200 New budget authority (gross) (4114E - 4397E-B) 25,000 2395 Total new obligations (-) (4901E-B) (25,000) New Budgetary Authority (Gross) Detail 4027/6027 Appropriation (trust fund, indefinite) (4114E) 70,000 4100 Transferred to other accounts (-) (4166E-B)11 (25,000) 4200 Transferred from other accounts (4166E-B) 25,000 6045 Portion precluded from obligation (-) (4397E-B) (45,000) 6250 Appropriation (total) 25,000 Change in Unpaid Obligations 7299 Total unpaid obligations, start of year (4901B) 0 7310 Total new obligations (4901E-B) 25,000 7499 Total unpaid obligations, end of year (4901E) 25,000 Memorandum Entries 9201 Total investments, start of year (1610B) 0 9202 Total investments, end of year (1610E) 70,000 10 The corpus and agency accounts submit budget data separately via FACTS II. P&F data is extracted and consolidated by OMB. 11 Line 4100 reflects the corpus account's 4166E-B payable balance to be transferred. Line 4200 reflects the agency account's 4166E-B receivable balance to be transferred. These amounts must match. V - 16 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Consolidated Corpus/Agency Form and Content Statements 12 Balance Sheet ASSETS 1A4 Investments (1610E) 70,000 LIABILITIES and NET POSITION 4B1 Accounts Payable (2110E) 25,000 8. Cumulative Results of Operations (3310E) 45,000 Statement of Net Cost 1B1 Program Costs-PublicProduction (6100E) 25,000 1D Less Earned Revenue 0 5 Net Cost of Operations (calculation) 25,000 Statement of Changes in Net Position 1 Net Cost of Operations 25,000 2B Financing Sources-Taxes (5800E) 70,000 9 Net Position-End of Period (calculation) 45,000 12 The corpus and agency accounts are consolidated by the Agency in preparation of the OMB Form and Content Statements. Any transfers between the corpus and agency accounts are eliminated. V - 17 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 1 Consolidated Corpus/Agency Form and Content Statements (continued) Statement of Budgetary Resources 1A Budget Authority - Appropriations (4114E) 70,000 1D Net Transfers (4166E-B) 0 4B Adjustments-Temporarily not Available (4397E-B) (45,000) 5 Total Budgetary Resources 25,000 6 Obligations Incurred (4901E-B) 25,000 8 Unobligated Balances Not Yet Available (4450E, 4510E) 0 9 Total Status of Resources 25,000 10 Obligations Incurred (4901E-B) 25,000 14D Less: Accounts Payable (4901E) 25,000 15 Total Outlays (calculation) 0 Statement of Financing 1A Obligations Incurred (4901E-B) 25,000 1J Total (calculation) 25,000 5 Net Cost of Operations (calculation) 25,000 V - 18 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 2 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) 1. Agency account requests transfer of funds to meet disbursement needs. A. To record disinvestment of funds. (TC C120) Budgetary None Proprietary 1010 Fund Balance With Treasury 25,000 1610 Investments in U.S. Treasury 1. Agency account requests transfer of funds to meet disbursement needs. A. To record disinvestment of funds. N/A B. To record actual transfer of funds (SF 1151 Nonexpenditure Transfer Authorization) between corpus and agency accounts. (TC A219) Securities Issued by Fiscal Service 25,000 B. To record actual transfer of funds (SF 1151 Nonexpenditure Transfer Authorization) between corpus and agency accounts. (TC A225) Budgetary 4166 Allocations of Realized Authority - To Be Transferred from Invested Balances 25,000 4167 Allocations of Realized Authority - Transferred from Invested Balances 25,000 Proprietary 2150 Payable for Transfers of Currently Invested Budgetary 4167 Allocations of Realized Authority - Transferred from Invested Balances 25,000 4166 Allocations of Realized Authority - To Be Transferred from Invested Balances 25,000 Proprietary 1010 Fund Balance With Treasury 25,000 1330 Receivable for Transfers of Currently Invested Balances 25,000 Balances 25,000 1010 Fund Balance With Treasury 25,000 V - 19 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 2 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) C. To record disbursement of funds. N/A C. To record disbursement of funds. (TC B110) Budgetary 4901 Delivered Orders - Obligations, Unpd 25,000 4902 Delivered Orders - Oblig, Paid 25,000 Proprietary 2110 Accounts Payable 25,000 1010 Fund Balance With Treasury 25,000 V - 20 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 2 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) Budgetary: Beginning Trial Balance Budgetary: Beginning Trial Balance 25,000 4166 4166 25,000 4201 70,000 25,000 4901 45,000 4397 25,000 (No Adjusting Entries) Pre-closing Adjusted Trial Balance (FACTS II submission) 25,000 70,000 (No Adjusting Entries) Pre-closing Adjusted Trial Balance (FACTS II submission) 70,000 25,000 4167 4167 25,000 4201 70,000 25,000 4902 45,000 4397 25,000 25,000 70,000 70,000 V - 21 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 2 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) Budgetary: Closing Entry C1) To record the consolidation of actual net-funded resources. (TC F204) Budgetary: Closing Entries C1) To record the consolidation of actual net-funded resources. (TC F204) 4167 Allocations of Realized Authority - Transferred from Invested Balances 25,000 4201 Total Actual Resources - Collected 25,000 Post-closing Trial Balance: 4201 Total Actual Resources – Collected 25,000 4167 Allocations of Realized Authority - Transferred from Invested Balances 25,000 C1) To record the closing of Expended Authority - Paid. (TC F214) 4902 Delivered Orders - Obligations, Paid 25,000 4201 Total Actual Resources - Coll. 25,000 Post-closing Trial Balance 4201 45,000 - none - 45,000 4397 45,000 45,000 V - 22 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 2 Fiscal Service Trust Fund Corpus Account Agency Trust Fund Account (20X8000) (75-20X8000) Proprietary: Beginning Trial Balance Proprietary: Beginning Trial Balance 1610 70,000 1330 25,000 25,000 2150 25,000 2110 45,000 3310 25000 Pre-closing Trial Balance - none - Closing Entry - none - Post-closing Trial Balance 25000 70,000 Pre-closing Trial Balance 70,000 1610 45,000 45,000 3310 45,000 Closing Entry - none - Post-closing Trial Balance 1610 45,000 - none - FACTS I Trial Balance (Pre-closing) (Consolidated Corpus and Agency account) 1610 45,000 3310 45,000 45,000 3310 45,000 45,000 45,000 45,000 45,000 V - 23 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 2 Trust Fund SF-133: Report on Budget Execution and Budgetary Resources (Year-End) BUDGETARY RESOURCES Corpus Account Agency Account 1. Budget Authority A. Appropriations D. Net Transfers, Current Year Authority Realized (4166E-B+4167E) 0 0 2. Unobligated Balance (4201B + 4397B + 4901B + 4166B) 0 0 5. Temporarily Not Available Pursuant to Public Law (4397E-B) 0 0 7. Total Budgetary Resources 0 0 STATUS OF BUDGETARY RESOURCES 8. Obligations Incurred (4901E-B + 4902E) 0 0 11. Total, Status of Budgetary Resources 0 0 RELATION OF OBLIGATIONS TO OUTLAYS 12. Obligated Balance, Net as of October 1 (4901B) 0 25,000 15. Outlays A. Disbursements (4902E) 0 25,000 B. Collections V - 24 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 2 USSGL 2108: Year-End Closing Statement Corpus Account Agency Account Column 6 Other Authorizations (1610E) 45,000 0 Column 11 Unobligated Balance (4397E) 45,000 0 CONSOLIDATED Schedule P - Program & Financing Budgetary Resources Available for Obligation 2200 New budget authority (gross) (4114E - 4397E-B) 0 2395 Total new obligations (-) (4901E-B + 4902E-B) 0 New Budgetary Authority (Gross) Detail 4027/6027 Appropriation (trust fund, indefinite) (4114E) 0 4100 Transferred to other accounts (-) (4166E-B, 4167E) 0 4200 Transferred from other accounts (4166E-B, 4167E) 0 6045 Portion precluded from obligation (-) (4397E-B) ( 0) Change in Unpaid Obligations 7299 Total unpaid obligations, start of year (4901B) 25,000 7310 Total new obligations (4901E-B) (25,000) 7499 Total unpaid obligations, end of year (4901E) 0 Memorandum Entries 9201 Total investments, start of year (1610B) 70,000 9202 Total investments, end of year (1610E) 45,000 V - 25 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 2 Consolidated Corpus/Agency Form and Content Statements 13 Balance Sheet ASSETS 1A4 Investments (1610E) 45,000 LIABILITIES and NET POSITION 8 Cumulative Results of Operations (3310E) 45,000 Statement of Net Cost -0- Statement of Changes in Net Position 1 Net Cost of Operations 0 8 Net Position-Beginning of Period (3310B) 45,000 9 Net Position-End of Period (calculation) 45,000 13 The corpus and agency accounts are consolidated by the Agency in preparation of the OMB Form and Content Statements. Any transfers between the corpus and agency accounts are eliminated. V - 26 Scenario V Treasury-Managed Trust Fund Allocation Accounts Year 2 Consolidated Corpus/Agency Form and Content Statements (continued) Statement of Budgetary Resources 1A Budget Authority - Appropriations 0 1D Net Transfers (4166E-B, 4167E) 0 2A Unobligated Balance Available (4201B+4166B+4397B) 0 4B Adjustments-Temporarily not Available (4397E-B) 0 5 Total Budgetary Resources 0 6 Obligations Incurred (4901E-B+4902E) 0 9 Total Status of Resources 0 10 Obligations Incurred (4901E-B, 4902E) 0 12 Obligated Balance, Net-Beginning (4901B) 25,000 15 Total Outlays (calculation) 25,000 Statement of Financing 1A Obligations Incurred (4901E-B+4902E) 0 1J Total (calculation) 0 5 Net Cost of Operations (calculation) 0 V - 27 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Scenario VI addresses the Budget’s unique presentation of nonexpenditure appropriation transfers1 for TAFS involving two specific entities: transferring-out entities, which are Treasury-managed trust funds, and receiving entities, which are agency trust funds. Currently, only four transferring-out Treasury-managed trust fund entities are subject to this guidance: Airport and Airway Trust Fund, Aquatic Resources Trust Fund, Highway Trust Fund, and Oil Spill Liability Trust Fund. These funds are designed to collect receipts and transfer-out, based upon the legislation of the receiving entities. There are, however, multiple agency receiving entities involved. The receiving entities are responsible for managing the program activities, including tracking and recording appropriations and disbursements. The reporting characteristics of the nonexpenditure transfers between the entities are very unique compared to typical nonexpenditure appropriation transfers. In the Budget, the entities transferring-out do not present P&Fs (with the exception of the Memorandum Entries); they only present Schedules of Unavailable Collections (Schedule N’s). Budget authority, which mainly consists of tax receipts and interest earned, is not executable. For the receiving entities, P&Fs are presented in the Budget, but Schedule N’s are not. Furthermore, definite amounts are typically appropriated annually to the receiving entities, but the amounts are appropriated from the receipts collected by the transferring-out entities. These are not appropriations from the General Fund of Treasury. Fiscal Service Forms 6200: Appropriation Warrants, are not processed. Instead, the appropriations are accomplished via SF 1151. However, in the Budget, they are to be recorded as appropriations, not as transfers. In reporting terminology, the appropriation is to be recorded on SF 133 Line 1A, not Line 1D, and also the respective P&F appropriation lines, not the P&F transfer lines. The TAR of the receiving entities, which is derived in part from USSGL 2108’s, reflects current-year nonexpenditure transfers in the "Appropriations and Other Obligational Authority" column (includes appropriations and appropriation transfer activity) and prior-year nonexpenditure transfers in the "Transfers" column. The four USSGL accounts below were established to account for this unique activity: 4126 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Receivable 4127 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Payable 4128 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Transfers-In 4129 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Transfers-Out Prior to the establishment of these accounts, all USSGL transfer accounts representing current-year nonexpenditure activity crosswalked to transfer lines on the SF 133 (Line 1D) and P&F (Lines 4100, 4200, 6100, 6200). The characteristics described above require the transfers to crosswalk to appropriation lines. Therefore, USSGL account 4128 was established to account for nonexpenditure transfers-in 1 TFM Vol. I Part 2 - Chapter 2000 defines nonexpenditure transactions. Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols that crosswalk to SF 133 and P&F appropriation lines. Account 4129 was established to account for nonexpenditure transfers-out that do not crosswalk to the SF 133 or P&F, since the authority is not executable. Furthermore, a mechanism is sometimes needed to transfer authority to the receiving entity prior to transferring the funds. This gives the receiving entity the resource from which to obligate. The funds remain in the transferring-out TAFS in order to maximize interest earned until such time as needed by the receiving entity for disbursement. In order to support this mechanism, USSGL accounts 4126 and 4127 were established to represent receivable and payable amounts between the two entities. These accounts will crosswalk to SF 133, P&F, and USSGL 2108 lines to accurately reflect authority transferred prior to funds. Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 1 illustrates receipts credited to a Treasury-managed trust fund account, where the receipts are immediately available for investment, but not available for obligation. A specific amount is then appropriated in the agency's appropriation act to the agency trust fund account. For year 1, assume that the full amount appropriated is simultaneously transferred via SF 1151. 1. To record receipts credited to the Treasury-managed trust fund account. (Note: This transaction combines the activity of the receipt and expenditure accounts.) (TC A188) Budgetary 4114 Appropriated Trust or Special Fund Receipts 100,000 4394 Receipts Not Available for Obligation Upon Collection 100,000 Proprietary 1010 Fund Balance With Treasury 100,000 5800 Tax Revenue Collected 100,000 1. To record receipts credited to the Treasury-managed trust fund account. (Note: This transaction combines the activity of the receipt and expenditure accounts.) N/A 2. To record the investment of receipts in par value securities issued by the Bureau of the Fiscal Service.2 (TC B124) Budgetary None Proprietary 1610 Investments in U.S. Treas. Securities Issued by Fiscal Service 100,000 1010 Fund Balance With Treasury 100,000 2. To record the investment of receipts in par value securities issued by the Bureau of the Fiscal Service. N/A 2 This is a basic transaction to illustrate that the receipts collected by the corpus account are immediately invested. No further investment activity is reflected in this scenario. Refer to Scenario IV, Trust Fund Investments, of this Guide as well as Section III - Accounting Transactions of TFM S2-01-02 (as updated) for more detailed guidance on trust fund investments. Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 1 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) 3. To record amounts appropriated from the Treasury-managed trust 3. To record amounts appropriated to the agency trust fund expenditure account from the Treasury-managed trust fund. This amount is specified in the agency's appropriation or authorization act. Immediately thereafter, in order to fulfill cash needs, the full amount of the appropriation is transferred to the agency trust fund expenditure account via SF 1151. (TC A276) Budgetary 4128 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Transfers-In 25,000 4450 Unapportioned Authority 25,000 Proprietary 1010 Fund Balance With Treasury 25,000 5755 Nonexpend. Financing Sources - Trans-In 25,000 fund to the agency trust fund expenditure account. This amount is specified in the agency's appropriation or authorization act. Immediately thereafter, in order to fulfill cash needs, the full amount of the appropriation is transferred to the agency trust fund expenditure account via SF 1151. A. To record the disinvestment of funds prior to the transfer. (TC C120) Budgetary None Proprietary 1010 Fund Balance With Treasury 25,000 1610 Investments in U.S. Treas. Securities Issued by Fiscal Service 25,000 B. To record the transfer of funds via SF 1151. (TC A278) Budgetary 4394 Receipts Not Available for Obligation Upon Collection 25,000 4129 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Transfers-Out 25,000 Proprietary 5765 Nonexpend. Financing Sources - Trans-Out 25,000 1010 Fund Balance With Treasury 25,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 1 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) 4. To record apportionment, allotment, expenditure and disbursement to non-Federal recipients. N/A 4. To record apportionment, allotment, expenditure and disbursement to non-Federal recipients.3 (TC A116, A120, B107) Budgetary 4450 Unapportioned Authority 25,000 4902 Delivered Orders - Obligations, Paid 25,000 Proprietary 6100 Operating Expenses/Program Costs 25,000 1010 Fund Balance With Treasury 25,000 3 The USSGL entries for budgetary control and obligations for trust funds are the same as those published in TFM S2-01-02 (as updated). For purposes of illustration, only the final results are shown here. Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 1 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) Budgetary: Pre-closing Adjusted Trial Balance (FACTS II submission): Budgetary: Pre-closing Adjusted Trial Balance (FACTS II submission): 4114 100,000 4128 25,000 25,000 4129 25,000 4902 75,000 4394 25,000 Closing Entries: 25,000 100,000 Closing Entry: 100,000 C1) To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 25,000 4128 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Transfers-In 25,000 C2) To record the closing of Expended Authority - Paid. (TC F214) 4902 Delivered Orders - Obligations, Paid 25,000 4201 Total Actual Resources - Collected 25,000 Post-closing Trial Balance: N/A C1) To record the consolidation of actual net-funded resources. (TC F204) 4129 Amounts Appropriated from Specific TreasuryManaged Trust Fund TAFS -Transfers-Out 25,000 4201 Total Actual Resources - Collected 75,000 4114 Appropriated Trust or Special Fund Receipts 100,000 Post-closing Trial Balance: 4201 75,000 75,000 4394 75,000 75,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 1 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) Proprietary: Pre-closing Trial Balance: Proprietary: Pre-closing Trial Balance: 1610 75,000 25,000 5755 5765 25,000 6100 25,000 100,000 5800 25,000 Closing Entry: C1) To close revenues and expenses into cumulative results of operations. (TC F228) 25,000 100,000 Closing Entry: C1) To close revenues into cumulative results of operations. (TC F228) 5800 Tax Revenue Collected 100,000 3310 Cum. Results of Operations 75,000 5765 Nonexpenditure Financing Sources - Transfers-Out 25,000 Post-closing Trial Balance: 100,000 5755 Nonexpenditure Financing Sources - Transfers-In 25,000 3310 Cum. Results of Operations 25,000 3310 Cumulative Results of Operations 25,000 6100 Operating Expenses/Program Costs 25,000 Post-closing Trial Balance: N/A 1610 75,000 3310 75,000 75,000 75,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 1 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) Schedule on Unavailable Collections (Schedule N) 01.99 Balance, start of year 0 02.99 Total receipts 100,000 05.99 Subtotal appropriation (-) (25,000) 07.99 Total balance, end of year 75,000 SF 133: Report on Budget Execution and Budgetary Resources (Year-End) N/A Schedule on Unavailable Collections (Schedule N) N/A SF 133: Report on Budget Execution and Budgetary Resources (Year-End) 1. Budgetary Authority A. Appropriations (4128E) 25,000 7. Total Budgetary Resources 25,000 8. Obligations Incurred (4902E) 25,000 11. Total Status of Budgetary Resources 25,000 15A. Outlays, Disbursements (4902E) 25,000 USSGL 2108: Year-End Closing Statement Column 5 Post-closing Unexpended Balance (1010E) 0 Column 11 Unobligated Balance 0 USSGL 2108: Year-End Closing Statement Column 6 Other Authorizations (1610E) 75,000 Column 11 Unobligated Balance (4394E) 75,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 1 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) Program and Financing Schedule (P&F) Memorandum Entries 9201 Total investments, start of year (1610B) 0 9202 Total investments, end of year (1610E) 75,000 Program and Financing Schedule (P&F) Obligations by Program Activity 1000 Total New Obligations (4902E) 25,000 Budgetary Resources Available for Obligation 2140 Unobligated balance available, start of year 0 2200 New budget authority (gross) (sum 4000 to 6990) 25,000 2395 Total new obligations (-) (from line 1000) 25,000 2499 Unobligated bal carried forward, end of year (4450E) 0 New Budgetary Authority (Gross), Detail 4026 Appropriation (discr)(trust fund, definite) (4128E) 25,000 7000 Total new budget authority (gross) (4128E) 25,000 Memorandum Entries N/A Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 1 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) OMB Form and Content Statements N/A OMB Form and Content Statements (consolidated) Balance Sheet ASSETS 1A1 Fund Balance With Treasury (1010E) 0 1A4 Investments (1610E) 75,000 LIABILITIES and NET POSITION 8. Cum. Results of Operations (3310E) 75,000 Statement of Net Cost 1B1 Program Costs – Public - Production (6100E) 25,000 1D Less Earned Revenue 0 5 Net Cost of Operations (calc) 25,000 Statement of Changes in Net Position 1 Net Cost of Operations 25,000 2B Financing Sources-Taxes (5800E) 100,000 9 Net Position-End of Period (calc) 75,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 1 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) OMB Form and Content Statements (consolidated) (continued) Statement of Budgetary Resources 1A Budg Auth - Approps (4114E, 4394E-B, 4128E, 4129E) 25,000 5 Total Budgetary Resources 25,000 6 Obligations Incurred (4902E) 25,000 9 Total Status of Resources 25,000 10 Obligations Incurred (4902E) 25,000 15 Total Outlays (calculation) 25,000 Statement of Financing 1A Obligations Incurred (4902E) 25,000 1J Total (calc) 25,000 5 Net Cost of Operations (calc) 25,000 OMB Form and Content Statements (continued) N/A Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) Year 2 illustrates receipts credited to a Treasury-managed trust fund account, where the receipts are immediately available for investment, but not available for obligation. A specific amount is then appropriated in the agency's appropriation act to the agency trust fund account. For year 2, assume that actual funds are not immediately needed for disbursement; therefore, a corresponding receivable/payable will be established on the books for the amount of the appropriation. In order to maintain sound cash management principles, obligations may be incurred by the agency, but disbursements may not be made until an SF 1151 is accomplished. 1. To record receipts credited to the Treasury-managed trust fund account. (Note: This transaction combines the activity of the receipt and expenditure accounts.) (TC A188) Budgetary 4114 Appropriated Trust or Special Fund Receipts 500,000 4394 Receipts Not Available for Obligation Upon Collection 500,000 Proprietary 1010 Fund Balance With Treasury 500,000 5800 Tax Revenue Collected 500,000 1. To record receipts credited to the Treasury-managed trust fund account. (Note: This transaction combines the activity of the receipt and expenditure accounts.) N/A 2. To record the investment of receipts in par value securities issued by the Bureau of the Fiscal Service.4 (TC B124) Budgetary None Proprietary 1610 Investments in U.S. Treas. Securities Issued by Fiscal Service 500,000 1010 Fund Balance With Treasury 500,000 2. To record the investment of receipts in par value securities issued by the Bureau of the Fiscal Service. N/A 4 This is a basic transaction to illustrate that the receipts collected by the corpus account are immediately invested. No further investment activity is reflected in this scenario. Refer to Scenario IV, Trust Fund Investments, of this Guide as well as Section III - Accounting Transactions of TFM S2-01-02 (as updated) for more detailed guidance on trust fund investments. Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) 3. To record a payable for amounts appropriated from the Treasury-managed trust fund to the agency trust fund expenditure account. This amount is specified in the agency's appropriation or authorization act. In order to maintain sound cash management principles, the funds will not be transferred until needed for disbursement. (TC A270) 3. To record a receivable for amounts appropriated from the Treasury-managed trust fund to the agency trust fund expenditure account. This amount is specified in the agency's appropriation or authorization act. In order to maintain sound cash management principles, the funds will not be transferred until needed for disbursement. (TC A268) Budgetary 4126 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Receivable 250,000 4450 Unapportioned Authority 250,000 Proprietary 1330 Receivable for Transfers of Currently Invested Balances 250,000 5755 Nonexpenditure Financing Sources – Transfers-In 250,000 Budgetary 4394 Receipts Not Available for Obligation Upon Collection 250,000 4127 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS – Payable 250,000 Proprietary 5765 Nonexpend. Financing Sources - Trans-Out 250,000 2150 Payable for Transfers of Currently Invested Balances 250,000 4. To record apportionment, allotment, and obligations incurred. N/A 4. To record apportionment, allotment, and obligations incurred, and to set up payable to non-Federal recipients.5 (TC A116, A120, B314) Budgetary 4450 Unapportioned Authority 225,000 4901 Delivered Orders - Obligations, Unpaid 225,000 Proprietary 6100 Operating Expenses/Program Costs 225,000 2110 Accounts Payable 225,000 5 The USSGL entries for budgetary control and obligations for trust funds are the same as those published in TFM S2-01-02 (as updated). For purposes of illustration, only the final results are shown here. Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) 5. To record the actual transfer of funds from the Treasurymanaged trust fund account, accomplished via SF 1151. A. To record the disinvestment of funds prior to the transfer. (TC C120) Budgetary None Proprietary 1010 Fund Balance With Treasury 200,000 1610 Investments in U.S. Treasury Securities Issued by Fiscal Service 200,000 B. To record the transfer of funds via SF 1151. (TC A274) Budgetary 4127 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Payable 200,000 4129 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Transfers-Out 200,000 Proprietary 2150 Payable for Transfers of Currently Invested Balances 200,000 1010 Fund Balance With Treasury 200,000 5. To record the actual transfer of funds to the agency trust fund account from the Treasury-managed trust fund account, accomplished via SF 1151. (TC A272) Budgetary 4128 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Transfers-In 200,000 4126 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Receivable 200,000 Proprietary 1010 Fund Balance With Treasury 200,000 1330 Receivable for Transfers of Currently Invested Balances 200,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) 6. To record the expenditure and disbursement of funds to nonFederal recipients. 6. To record the expenditure and disbursement of funds to non-Federal recipients. (TC B110) Budgetary 4901 Delivered Orders - Obligations, Unpaid 200,000 4902 Delivered Orders - Obligations, Paid 200,000 Proprietary 2110 Accounts Payable 200,000 1010 Fund Balance With Treasury 200,000 N/A Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) Budgetary: Pre-closing Adjusted Trial Balance (FACTS II submission): Budgetary: Pre-closing Adjusted Trial Balance (FACTS II submission): 4114 500,000 4126 50,000 50,000 4127 4128 200,000 200,000 4129 25,000 4450 4201 75,000 25,000 4901 325,000 4394 200,000 4902 575,000 Closing Entry: 575,000 250,000 Closing Entries: 250,000 C1) To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 200,000 4128 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS - Transfers-In 200,000 C2) To record the closing of Expended Authority - Paid (TC F214) 4902 Delivered Orders - Obligations, Paid 200,000 4201 Total Actual Resources - Collected 200,000 Post-closing Trial Balance: C1) To record the consolidation of actual net-funded resources. (TC F204) 4129 Amounts Appropriated from Specific TreasuryMgd Trust Fund TAFS - Transfers-Out 200,000 4201 Total Actual Resources - Collected 300,000 4114 Appropriated Trust or Special Fund Receipts 500,000 Post-closing Trial Balance: 50,000 4127 4126 50,000 4201 375,000 25,000 4450 325,000 4394 25,000 4901 375,000 375,000 50,000 50,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) Proprietary: Pre-closing Trial Balance: Proprietary: Pre-closing Trial Balance: 1610 375,000 1330 50,000 50,000 2150 25,000 2110 75,000 3310 250,000 5755 5765 250,000 6100 225,000 500,000 5800 275,000 Closing Entry: C1) To close revenues and expenses into cumulative results of operations. (TC F228) 275,000 625,000 Closing Entry: C1) To close revenues into cumulative results of operations. (TC F228) 5800 Tax Revenue Collected 500,000 3310 Cum. Results of Operations 250,000 5765 Nonexpenditure Financing Sources - Transfers-Out 250,000 Post-closing Trial Balance: 625,000 5755 Nonexpenditure Financing Sources - Transfers-In 250,000 3310 Cum. Results of Operations 25,000 6100 Operating Expenses/Program Costs 225,000 Post-closing Trial Balance: 1610 375,000 1330 50,000 50,000 2150 25,000 2110 3310 325,000 25,000 3310 375,000 375,000 50,000 50,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) Schedule on Unavailable Collections (Schedule N) N/A SF 133: Report on Budget Execution and Budgetary Resources (Year-End) 1. Budgetary Authority A. Appropriations (4126E-B, 4128E) 250,000 2A. Unobligated Bal Brought Forward (4126B, 4201B) 0 7. Total Budgetary Resources 250,000 8. Obligations Incurred (4901E-B, 4902E) 225,000 10. Unobligated Balance Not Available (4450E) 25,000 11. Total Status of Budgetary Resources 250,000 14D. Accounts Payable (4901E) 25,000 15A. Outlays, Disbursements (4902E) 200,000 USSGL 2108: Year-End Closing Statement Column 5 Post-closing Unexpended Balance (1010E) 0 Column 7 Reimbursements Earned (4126E) 50,000 Column 10 Accounts Payable (4901E) 25,000 Column 11 Unobligated Balance (4450E) 25,000 Schedule on Unavailable Collections (Schedule N) 01.99 Balance, start of year 75,000 02.99 Total receipts 500,000 05.99 Subtotal appropriation (-) (250,000) 07.99 Total balance, end of year 325,000 SF 133: Report on Budget Execution and Budgetary Resources (Year-End) N/A USSGL 2108: Year-End Closing Statement Column 6 Other Authorizations (1610E) 375,000 Column 10 Accounts Payable (4127E) 50,000 Column 11 Unobligated Balance (4394E) 325,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) Program and Financing Schedule (P&F) Memorandum Entries 9201 Total investments, start of year (1610B) 75,000 9202 Total investments, end of year (1610E) 375,000 Program and Financing Schedule (P&F) Obligations by Program Activity 1000 Total New Obligations (4901E-B, 4902E) 225,000 Budgetary Resources Available for Obligation 2140 Unobligated balance available, start of year 0 2200 New budget authority (gross) (sum 4000 to 6990) 250,000 2395 Total new obligations (-) (from line 1000) 225,000 2499 Unobligated bal carried forward, end of year (4450E) 25,000 New Budgetary Authority (Gross), Detail 4026 Appropriation (discr)(trust fd, def) (4126E-B, 4128E) 250,000 7000 Total new budget authority (gross) (4126E-B, 4128E) 250,000 Memorandum Entries N/A Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) OMB Form and Content Statements N/A OMB Form and Content Statements (consolidated) Balance Sheet ASSETS 1A1 Fund Balance With Treasury (1010E) 0 1A4 Investments (1610E) 375,000 LIABILITIES and NET POSITION 3A1 Accounts Payable (2110E) 25,000 8 Cum. Results of Operations (3310E) 350,000 Statement of Net Cost 1B1 Program Costs – Public - Production (6100E) 225,000 1D Less Earned Revenue 0 5 Net Cost of Operations (calc) 225,000 Statement of Changes in Net Position 1 Net Cost of Operations 225,000 2B Financing Sources-Taxes (5800E) 500,000 8 Net Position – Beginning of Period 75,000 9 Net Position - End of Period (calc) 350,000 Scenario VI Trust Fund Appropriation Transfers for Specific Treasury Appropriation Fund Symbols Year 2 Treasury-Managed Trust Fund Account (20X8000) Agency Trust Fund Account (69X8123) OMB Form and Content Statements (consolidated) (continued) Statement of Budgetary Resources 1A Budg Auth - Approps (4114E, 4394E-B, 4126E-B 4127E-B, 4128E, 4129E) 250,000 2A Unobligated Balance Brought Forward (4126B, 4127B, 4201B, 4394B) 0 5 Total Budgetary Resources 250,000 6 Obligations Incurred (4901E-B, 4902E) 225,000 8 Unobligated Balances Not Yet Available (4450E) 25,000 9 Total Status of Resources 250,000 10 Obligations Incurred (4901E-B, 4902E) 225,000 14D Accounts Payable (4901E) 25,000 15 Total Outlays (calculation) 200,000 Statement of Financing 1A Obligations Incurred (4901E-B, 4902E) 225,000 1J Total (calc) 225,000 5 Net Cost of Operations (calc) 225,000 OMB Form and Content Statements (continued) N/A Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Scenario VII illustrates the liquidation of contract authority for trust funds, where a nonexpenditure transfer from a Fiscal Service corpus trust fund account funds the liquidation. For a detailed description and background related to contract authority and the USSGL accounts involved, refer to contract authority scenarios posted on the USSGL Web site. The main factor that singles out these trust funds with contract authority from other TAFS with contract authority is the involvement of at least two different entities. The first entity is the piece managed by the Fiscal Service. The Fiscal Service records the collection and investment of receipts. For example, the Fiscal Service -managed Airport and Airway Trust Fund collects taxes paid by airport and airway users. The second entity is the piece managed by the Federal program agency. The agency TAFS is the account in which the contract authority is granted and where program activities are managed. For example, the Federal Aviation Administration of the U.S. Department of Transportation manages the Liquidation of Contract Authorization trust fund, and is responsible for recording the contract authority, recording the appropriations to liquidate contract authority, as well as tracking obligations and disbursements of the fund. Note that while the appropriation to liquidate contract authority is granted in appropriation acts, the funds will not be transferred via SF 1151 until actually needed for disbursement. This is for cash management purposes so that the interest earned in the Fiscal Service TAFS is maximized. In order to capture this concept in the USSGL, and in order to support the SF 133 and P&F, USSGL account 4136 Contract Authority to be Liquidated by Trust Funds was established, and is the basis of this scenario. The pages that follow present transactions of the " Fiscal Service corpus account" and the "parent account." The parent account represents the agency TAFS, and is referred to as the parent account because it commonly has authority to transfer funds to recipient TAFS. Those types of transfers are illustrated in Scenario VIII, Trust Funds with Contract Authority, Part II: Transfers of Contract Authority. Scenario VII assumes that only "definite" contract authority is involved, and for the sake of simplicity also assumes that programs are not subject to apportionment. Refer to Section III, Accounting Transactions, of TFM S2-01-02 (as updated) for a more comprehensive listing of detailed transactions. Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 1 Fiscal Service Corpus Account (20X8100) Parent Account (69X8123) 1. To record the enactment of public law for new contract authority. 1. To record the enactment of public law for new contract authority. (TC A166) Budgetary 4131 CY Contract Authority Realized - Def 1,000 4620 Unob Fds Not Subj to Apport1 1,000 Proprietary N/A 2. To incur obligations. N/A N/A 2. To incur obligations. (TC B204) Budgetary 4620 Unob Fds Not Subj to Apportionment 600 4801 Undelivered Orders – Oblig, Unpaid 600 Proprietary N/A 1 A credit to USSGL account 4450 Unapportioned Authority is to be recorded for programs subject to apportionment. Refer to Section III - Accounting Transactions of TFM S2-01-02 (as updated) for more detailed transactions. Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 1 Fiscal Service Corpus Account (20X8100) Parent Account (69X8123) 3. The parent account receives an appropriation to liquidate contract authority in the amount of $400. Of that amount, $300 is immediately requested via SF 1151 nonexpenditure transfer to be transferred from the Fiscal Service corpus account to the parent account to cover the expenditure and disbursement in transaction #4. A payable is established for the remaining $100. (TC A270, A278) Budgetary 4620 Unob Fds Not Subj to Apport 400 4127 Amts Appropriated from Specific Treasury-Mgd TF TAFS – Payable 100 4129 Amts Appropriated from Specific Treasury-Managed Trust Fund TAFS – Transfers-Out 300 Proprietary 5765 Nonexpenditure Financing Sources - Transfers-Out 400 1010 Fund Balance With Treasury 300 2150 Payable for Transfers of Currently Invested Balances 100 3. The parent account receives an appropriation to liquidate contract authority in the amount of $400. Of that amount, $300 is immediately requested via SF 1151 nonexpenditure transfer to be transferred from the Fiscal service corpus account to the parent account to cover the expenditure and disbursement in transaction #4. A receivable is established for the remaining $100. (TC A171, A173) Budgetary 4126 Amounts Appropriated from Specific TreasuryManaged Trust Fund TAFS - Receivable 100 4136 CA to be Liquidated by TF 100 and 4138 Appropriations to Liquidate CA 300 4135 Contract Authority Liquidated 300 Proprietary 1010 Fund Balance With Treasury 300 1330 Receivable for Transfers of Currently Invested Balances 100 5755 Nonexpenditure Financing Sources – Transfers-In 400 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 1 Fiscal Service Corpus Account (20X8100) Parent Account (69X8123) 4. To disburse and expend. N/A 4. To disburse and expend. (TC B107) Budgetary 4801 Undelivered Orders – Oblig, Unpaid 300 4902 Delivered Orders – Oblig, Paid 300 Proprietary 6100 Operating Expenses/Program Costs 300 1010 Fund Balance With Treasury 300 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 1 Fiscal Service Corpus Account (20X8100) Budgetary Pre-Closing Trial Balance (FACTS II ATB): 4127 100 4129 300 4620 400 400 400 Parent Account (69X8123) Budgetary Pre-Closing Trial Balance (FACTS II ATB): 4126 100 4131 1,000 4135 300 4136 100 4138 300 4620 400 4801 300 4902 300 1,400 1,400 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 1 Fiscal Service Corpus Account (20X8100) Budgetary Closing Entries: C1) To record the consolidation of actual net-funded resources. (TC F204) 4129 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS – Transfers-Out 300 4201 Total Actual Resources - Collected 300 Post-Closing Trial Balance: 4127 100 4201 300 4620 400 400 400 Parent Account (69X8123) Budgetary Closing Entries: C1) To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 300 4138 Appropriations to Liquidate CA 300 C2) To record the closing of fiscal year contract authority. (TC F206) 4135 Contract Authority Liquidated 300 4139 CA Carried Forward 700 4131 CY Contract Authority Real - Def 1,000 C3) To record the closing of expended authority paid. (TC F214) 4902 Delivered Orders – Obligations, Paid 300 4201 Total Actual Resources - Collected 300 Post-Closing Trial Balance: 4126 100 4136 100 4139 700 4201 0 0 4620 400 4801 300 800 800 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Parent Account (69X8123) Proprietary Pre-Closing Trial Balance (FACTS I): 1330 100 5755 400 6100 300 400 400 Closing Entry: C1) To record the closing of other financing sources and expenses into cumulative results of operations. (TC F228) 5755 Nonexpenditure Financing Sources - Transfers-In 400 3310 Cumulative Results of Operations 100 6100 Operating Expenses/Program Costs 300 Post-Closing Trial Balance: 1330 100 3310 100 100 100 Year 1 Fiscal Service Corpus Account (20X8100) Proprietary Pre-Closing Trial Balance (FACTS I): 1010 300 2150 100 5765 400 400 400 Closing Entry: C1) To record the closing of other financing sources into cumulative results of operations. (TC F228) 3310 Cumulative Results of Operations 400 5765 Nonexpenditure Financing Sources - Transfers-Out 400 Post-Closing Trial Balance: 1010 300 2150 100 3310 400 400 400 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Parent Account (69X8123) SF 133: Report on Budget Execution and Budgetary Resources 1. Budgetary Authority A. Appropriations (4126E-B, 4138E) 400 C. Contract Authority (4131E) 1,000 6 E. Other Auth w/drawn (4135E, 4136E-B) (400) 7. Total Budgetary Resources 1,000 8. Obligations Incurred (4801E-B, 4902E) 600 9. Unobligated Balance Available (4620E) 400 11. Total Status of Budgetary Resources 1,000 14 C. Undelivered Orders (4801E) 300 15 Total Outlays (calculation) 300 Year 1 Fiscal Service Corpus Account (20X8100) SF 133: Report on Budget Execution and Budgetary Resources N/A Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Parent Account (69X8123) USSGL 2108: Year-End Closing Statement Col. 2 Preclosing unexpended balance 0 Col. 3 Cur. Year CA realized (4131E) 1,000 Col. 4 Unobligated. and obligated. bal. Withdrawn/canceled (4135E, 4136E-B) (400) Col. 5 Postclosing unexpended bal. (1010E) 0 Col. 6 Other Auth. (4131E, 4135E, 4136E) 600 Calc. (2+3-4-5=6) Col. 7 Reimbursements Earned (4126E) 100 Col. 9 Undelivered Orders (4801E) 300 Col. 10 Accounts Pay. and Other Liab. Col. 11 Unobligated bal. (4620E) 400 Calc (5+6+7+8=9+10+11) Year 1 Fiscal Service Corpus Account (20X8100) USSGL 2108: Year-End Closing Statement Col. 2 Preclosing unexpended balance (300) Col. 3 Cur. Year CA realized Col. 4 Unobligated. and obligated. bal. Withdrawn/canceled Col. 5 Postclosing unexpended bal. (1010E) (300) Col. 6 Other Auth. 0 Calc. (2+3-4-5=6) Col. 7 Reimbursements Earned Col. 9 Undelivered Orders Col. 10 Accounts Pay. and Other Liab. (4127E) 100 Col. 11 Unobligated bal. (4620E) (400) Calc (5+6+7+8=9+10+11) Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Parent Account (69X8123) Program and Financing Schedule (P & F) Total New Obligations 1000 Total new obligations (4801E-B, 4902E) 600 Budgetary Resources Available For Obligation 2149 Unobligated balance available, start of year: Contract authority (Not supported by USSGL) 2200 New budget authority (gross) (calc 4000..6990) 1,000 2390 Total budgetary resources avail for obligation (calc) 1,000 2449 Unobligated balance available, end of year: Contract authority (Not supported by USSGL) 2499 Total unobligated balance, end of year (4620E) 400 New Budgetary Authority (Gross), Detail 4026 Appropriation (trust fund, definite) (4126E-B, 4138E) 400 4049 Portion applied to liquidate contract authority (4135E,4136E-B)(400) 4100 Transferred to other accounts (-) 4200 Transferred from other accounts (+) 4300 Appropriation (total discretionary) (calc) 0 6610 Contract authority (definite) (4131E) 1,000 6661 Transferred to other accounts (-) 6662 Transferred from other accounts (+) 6690 Contract authority (total mandatory) (calc) 1,000 7000 Total new BA (gross) 1,000 (4126E-B, 4131E, 4135E, 4136E-B, 4138E) Memorandum Entries 7501 Obligated balance, start of year: CA (Not supported by USSGL) 7502 Obligated balance, end of year: CA (Not supported by USSGL) Year 1 Fiscal Service Corpus Account (20X8100) Program and Financing Schedule (P & F) Memorandum Entries 9201 Total investments, start of year 0 9202 Total investments, end of year 0 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 1 Fiscal Service Corpus Account (20X8100) OMB Form and Content Statements N/A Parent Account (69X8123) OMB Form and Content Statements (Consolidated) Balance Sheet ASSETS 1A1 Fund Balance With Treasury (1010E) 300 LIABILITIES and NET POSITION 8. Cum. Results of Operations (3310E) 300 Statement of Net Cost 1B1 Program Costs – Public - Production (6100E) 300 1D Less Earned Revenue 0 5 Net Cost of Operations (calc) 300 Statement of Changes in Net Position 1 Net Cost of Operations 300 8 Net Position – Beginning of Period 0 9 Net Position - End of Period (calc) 300 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 1 Fiscal Service Corpus Account (20X8100) OMB Form and Content Statements N/A Parent Account (69X8123) OMB Form and Content Statements (Consolidated) (continued) Statement of Budgetary Resources 1A Budg Auth - Approps (4126E-B, 4127E-B, 4129E, 4138E) 0 1C Budg Auth - Contract Authority (4131E) 1,000 4C5 Adjustments-Pursuant to P.L. (4135E, 4136E-B) (400) 5 Total Budgetary Resources 600 6 Obligations Incurred (4801E-B, 4902E) 600 7B Unob Bal Avail-Exempt from Apport (4620E) 0 9 Total Status of Resources 600 10 Obligations Incurred (4801E-B, 4902E) 600 14C. Undelivered Orders (4801E) 300 15 Total Outlays (calculation) 300 Statement of Financing 1A Obligations Incurred (4801E-B, 4902E) 600 2A Chg in Amt of Goods/Services (Incr)/Decr (4801E-B)(300) 5 Net Cost of Operations (calc) 300 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 2 Fiscal Service Corpus Account (20X8100) Parent Account (69X8123) 1. Parent account requests nonexpenditure transfer of funds from the liquidating appropriation that was received in year 1. Funds are transferred from the corpus account to the parent account. This is accomplished via SF 1151. (TC A274) Budgetary 4127 Amts Appropriated from Specific Treasury-Mgd TF TAFS – Payable 60 4129 Amts Appropriated from Specific Treasury-Mgd TF TAFS – Transfers-Out 60 Proprietary 2150 Payable for Trans of Curr Inv Bal 60 1010 Fund Balance With Treasury 60 1. Parent account requests nonexpenditure transfer of funds from the liquidating appropriation that was received in year 1. Funds are transferred from the corpus account to the parent account. This is accomplished via SF 1151. (TC A175) Budgetary 4136 CA to be Liquidated by TF 60 4126 Amts Appropriated fr Specific TreasuryManaged TF TAFS – Receivable 60 and 4138 Appropriations to Liquidate CA 60 4135 Contract Authority Liquidated 60 Proprietary 1010 Fund Balance With Treasury 60 1330 Receiv for Trans of Curr Inv Bal 60 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 2 Fiscal Service Corpus Account (20X8100) Parent Account (69X8123) Budgetary Pre-Closing Trial Balance (FACTS II ATB): 4127 40 4129 60 4201 300 4620 400 400 400 Closing Entries: C1) To record the consolidation of actual net-funded resources. (TC F204) 4129 Amounts Appropriated from Specific Treasury-Managed Trust Fund TAFS – Transfers-Out 60 4201 Total Actual Resources - Collected 60 Budgetary Pre-Closing Trial Balance (FACTS II ATB): 4126 40 4135 60 4136 40 4138 60 4139 700 4620 400 4801 300 800 800 Closing Entries: C1) To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 60 4138 Appropriations to Liquidate CA 60 C2) To record the closing of fiscal year contract authority. (TC F206) 4135 Contract Authority Liquidated 60 4139 CA Carried Forward 60 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Parent Account (69X8123) Post-Closing Trial Balance: 4126 40 4136 40 4139 640 4201 60 4620 400 4801 300 740 740 Year 2 Fiscal Service Corpus Account (20X8100) Post-Closing Trial Balance: 4127 40 4201 360 4620 400 400 400 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 2 Fiscal Service Corpus Account (20X8100) Proprietary Pre-Closing Trial Balance (FACTS I): 1010 360 2150 40 3310 400 400 400 Closing Entry: N/A Post-Closing Trial Balance: 1010 360 2150 40 3310 400 400 400 Parent Account (69X8123) Proprietary Pre-Closing Trial Balance (FACTS I): 1010 60 1330 40 3310 100 100 100 Closing Entry: N/A Post-Closing Trial Balance: 1010 60 1330 40 3310 100 100 100 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 2 Fiscal Service Corpus Account (20X8100) SF 133: Report on Budget Execution and Budgetary Resources N/A Parent Account (69X8123) SF 133: Report on Budget Execution and Budgetary Resources 1. Budgetary Authority A. Appropriations (4126E-B, 4138E) 0 2A. Unob Bal, Brought Fwd (4126B, 4136B, 4139B, 4201B, 4801B) 400 6E. Other Authority w/drawn (4135E, 4136E-B) 0 7. Total Budgetary Resources 400 8. Obligations Incurred (4801E-B) 0 9. Unobligated Balance Available (4620E) 400 11. Total Status of Budgetary Resources 400 12 Obligated Balance, Net as of Oct 1 (4801B) 300 14C. 14C. Undelivered Orders (4801E) 300 15 Total Outlays (calculation) 0 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 2 Fiscal Service Corpus Account (20X8100) USSGL 2108: Year-End Closing Statement Col. 2 Preclosing unexpended balance (360) Col. 3 Cur. Year CA realized Col. 4 Unobligated. and obligated. bal. Withdrawn/canceled Col. 5 Postclosing unexpended bal. (1010E) (360) Col. 6 Other Auth. 0 Calc. (2+3-4-5=6) Col. 7 Reimbursements Earned Col. 9 Undelivered Orders Col. 10 Accounts Pay. and Other Liab. (4127E) 40 Col. 11 Unobligated bal. (4620E) (400) Calc (5+6+7+8=9+10+11) Parent Account (69X8123) USSGL 2108: Year-End Closing Statement Col. 2 Preclosing unexpended balance (1010E, 4136B, 4139B) 660 Col. 3 Cur. Year CA realized (4131E) 0 Col. 4 Unobligated. and obligated. bal. Withdrawn/canceled (4135E, 4136E-B) 0 Col. 5 Postclosing unexpended bal. (1010E) 60 Col. 6 Other Auth. (4135E, 4136E, 4139B) 600 Calc. (2+3-4-5=6) Col. 7 Reimbursements Earned (4126E) 40 Col. 9 Undelivered Orders (4801E) 300 Col. 10 Accounts Pay. and Other Liab. Col. 11 Unobligated bal. (4620E) 400 Calc (5+6+7+8=9+10+11) Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Parent Account (69X8123) Program and Financing Schedule (P & F) Total New Obligations 1000 Total new obligations (4801E-B) 0 Budgetary Resources Available For Obligation 2150 Unobligated balance available, start of year: Contract authority (Not supported by USSGL) 2200 New budget authority (gross) (calc 4000..6990) 0 2391 Total budgetary resources avail for obligation (calc) 0 2450 Unobligated balance available, end of year: Contract authority (Not supported by USSGL) 2499 Total unobligated balance, end of year (4620E) 400 New Budgetary Authority (Gross), Detail 4026 Appropriation (trust fund, definite) (4126E-B, 4138E) 0 4049 Portion applied to liquidate contract authority (4135E,4136E-B) 0 4100 Transferred to other accounts (-) 4200 Transferred from other accounts (+) 4300 Appropriation (total discretionary) (calc) 0 6610 Contract authority (definite) 6661 Transferred to other accounts (-) 6662 Transferred from other accounts (+) 6690 Contract authority (total mandatory) (calc) 7000 Total new BA (gross) (4126E-B, 4135E, 4136E-B, 4138E) 0 Memorandum Entries 7501 Obligated balance, start of year: CA (Not supported by USSGL) 7502 Obligated balance, end of year: CA (Not supported by USSGL) Year 2 Fiscal Service Corpus Account (20X8100) Program and Financing Schedule (P & F) Memorandum Entries 9201 Total investments, start of year 0 9202 Total investments, end of year 0 Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Parent Account (69X8123) OMB Form and Content Statements (Consolidated) Balance Sheet ASSETS 1A1 Fund Balance With Treasury (1010E) (300) LIABILITIES and NET POSITION 8. Cum. Results of Operations (3310E) (300) Statement of Net Cost 1B1 Program Costs – Public - Production (6100E) 0 1D Less Earned Revenue 0 5 Net Cost of Operations (calc) 0 Statement of Changes in Net Position 1 Net Cost of Operations 0 8 Net Position – Beginning of Period (3310B) (300) 9 Net Position - End of Period (calc) (300) Year 2 Fiscal Service Corpus Account (20X8100) OMB Form and Content Statements N/A Scenario VII Trust Funds with Contract Authority Part I: Appropriations to Liquidate Contract Authority - Funded by Nonexpenditure Transfers Year 2 Fiscal Service Corpus Account (20X8100) OMB Form and Content Statements N/A Parent Account (69X8123) OMB Form and Content Statements (Consolidated) (continued) Statement of Budgetary Resources 1A Budg Auth - Approps (4126E-B, 4127E-B, 4129E, 4138E) 0 1C Budg Auth - Contract Authority 2A Unobligated Bal Brought Forward (4126B, 4127B, 4136B,4139B, 4201B, 4801B) 0 4C5 Adjustments-Pursuant to P.L. (4135E, 4136E-B) 0 5 Total Budgetary Resources 0 6 Obligations Incurred (4801E-B) 0 7B Unob Bal Avail-Exempt from Apport (4620E) 0 9 Total Status of Resources 0 12 Obligated Bal, Net – Beg of Pd (4801B) 300 14C. Undelivered Orders (4801E) 300 15 Total Outlays (calculation) 0 Statement of Financing 1A Obligations Incurred (4801E-B) 0 2A Chg in Amt of Goods/Services (Incr)/Decr (4801E-B) (0) 5 Net Cost of Operations (calc) 0 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Scenario VIII illustrates accounting and reporting for the transfer of contract authority between two trust funds. For a detailed description and background related to contract authority and the USSGL accounts involved, refer to contract authority scenarios posted on the USSGL Web site. Trust funds with contract authority typically involve at least two reporting entities. The first is the TAFS managed by Fiscal Service. Fiscal Service is responsible for recording the collection and investment of receipts. For example, the Fiscal Service -managed Highway Trust Fund collects earmarked taxes on gasoline and other fuels. The second entity is the TAFS managed by the Federal program agency. The agency TAFS is the account in which contract authority is granted and program activities are managed. For example, the Federal Highway Administration of the U.S. Department of Transportation manages the Liquidation of Contract Authorization trust fund, and is responsible for recording the contract authority, recording the appropriations to liquidate contract authority, as well as tracking obligations and disbursements of the fund. Note that while the appropriation to liquidate contract authority is granted in appropriation acts, the funds will not be transferred via SF 1151 until actually needed for disbursement. This is for cash management purposes so that the interest earned in the Fiscal Service TAFS is maximized. That concept is illustrated in Scenario VII, Trust Funds with Contract Authority, Part I: Appropriations to Liquidate Contract Authority – Funded by Nonexpenditure Transfers, and involves established USSGL account 4136 Contract Authority to be Liquidated by Trust Funds. In some instances, however, the agency entity (referred to in this scenario as the parent account) is also granted the authority to transfer contract authority to recipient TAFS (referred to as the recipient account). This is usually in the form of allocation transfers, but may also be an appropriation/balance transfer. At the time that the contract authority transfers, however, the funds will not be transferred until actually needed for disbursement. Again, this is in order to maintain sound cash management principles. For this reason, and in order to support specific P&F lines, USSGL account 4137 Transfers of Contract Authority was established, and is the basis of this scenario. Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 1 Parent Account (69X8000) Recipient Account (14-69X8000) 1. To record the enactment of public law for new contract authority. (TC A166) 1. To record the enactment of public law for new contract authority. N/A Budgetary 4131 CY Contract Authority Realized - Def 1,000 4620 Unob Fds Not Subj to Apport 1,000 Proprietary N/A 2. To record the appropriation to liquidate contract authority. Funds are not transferred until needed for disbursement. (TC A173) Budgetary 4126 Amounts Appropriated from Specific TreasuryManaged Trust Fund TAFS – Receivable 600 4136 CA to be Liquidated by TF 600 Proprietary 1330 Receivable for Transfers of Currently 2. To record the appropriation to liquidate contract authority. Funds are not transferred until needed for disbursement. N/A Invested Balances 600 5755 Nonexpenditure Financing Sources - Transfers-In 600 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 1 Parent Account (69X8000) Recipient Account (14-69X8000) 3. To record transfer-out of contract authority from the parent account to the recipient account based upon an approved letter. (TC A179) Budgetary 4620 Unob Fds Not Subj to Apport 50 4137 Transfers of Contract Authority 50 Proprietary 5765 Nonexpenditure Financing Sources - Transfers-Out 50 2150 Payable for Transfers of 3. To record transfer-out of contract authority from the parent account to the recipient account based upon an approved letter. (TC A177) Budgetary 4137 Transfers of Contract Authority 50 4620 Unob Fds Not Subj to Apport 50 Proprietary 1330 Receivable for Transfers of Currently Invested Balances 50 5755 Nonexpenditure Financing Sources - Transfers-In 50 Currently Invested Balances 50 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 1 Parent Account (69X8000) Recipient Account (14-69X8000) 4. Recipient account requests transfer of funds to liquidate the contract authority that was transferred in #3. This is accomplished via SF 1151. First, an SF 1151 must be processed to move the fund balance from the Fiscal Service corpus account into the parent account. A. To record the SF 1151 transfer-in from the Fiscal Service corpus account into the parent account. (TC A175) Budgetary 4136 CA to be Liquidated by TF 30 4126 Amts Appropriated fr Specific TreasuryManaged TF TAFS – Receivable 30 and 4138 Appropriations to Liquidate CA 30 4135 Contract Authority Liquidated 30 Proprietary 1010 Fund Balance With Treasury 30 1330 Receiv for Trans of Curr Inv Bal 30 4. Recipient account requests transfer of funds to liquidate the contract authority that was transferred in #3. This is accomplished via SF 1151. First, an SF 1151 must be processed to move the fund balance from the Fiscal Service corpus account into the parent account. A. To record the SF 1151 transfer-in from the Fiscal Service corpus account into the parent account. N/A Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 1 Parent Account (69X8000) Recipient Account (14-69X8000) B. To record the immediate SF 1151 transfer-out to the recipient account in order to liquidate the contract authority previously transferred in #2. (TC A180) Budgetary 4137 Transfers of Contract Authority 30 4175 Allocation Transfers of CY Authority for Non-Invested Accounts 30 Proprietary 2150 Payable for Trans of Curr Inv Bal 30 1010 Fund Balance With Treasury 30 B. To record the immediate SF 1151 transfer-in to the recipient account in order to liquidate the contract authority previously transferred in #2. (TC A181) Budgetary 4175 Allocation Transfers of CY Authority for NonInvested Accounts 30 4137 Transfers of Contract Authority 30 Proprietary 1010 Fund Balance With Treasury 30 1330 Receivable for Transfers of Currently Invested Balances 30 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 1 Parent Account (69X8000) Recipient Account (14-69X8000) Budgetary Pre-Closing Trial Balance (FACTS II ATB): 4126 570 4131 1,000 4135 30 4136 570 4137 20 4138 30 4175 30 4620 950 1,600 1,600 Closing Entries C1) To record the consolidation of actual net-funded resources. (TC F204) 4175 Alloc Transfers of CY Authority for NonInvested Accounts 30 4138 Appropriations to Liquidate CA 30 C2) To record the closing of fiscal year contract authority. (TC F206) 4135 Contract Authority Liquidated 30 4139 CA Carried Forward 970 4131 CY Contract Authority Real - Def 1,000 Budgetary Pre-Closing Trial Balance (FACTS II ATB): 4137 20 4175 30 4620 50 50 50 Closing Entries: C1) To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 30 4175 Alloc Transfers of CY Authority for Non-Invested Accounts 30 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Recipient Account (14-69X8000) Post-Closing Trial Balance: 4137 20 4201 30 4620 50 50 50 Year 1 Parent Account (69X8000) Post-Closing Trial Balance: 4126 570 4136 570 4137 20 4139 970 4620 950 1,540 1,540 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Recipient Account (14-69X8000) Proprietary Pre-Closing Trial Balance (FACTS I): 1010 30 1330 20 5755 50 50 50 Closing Entry: C1) To record the closing of other financing sources into cumulative results of operations. (TC F228) 5755 Nonexpenditure Financing Sources - Transfers-In 50 3310 Cumulative Results of Operations 50 Post-Closing Trial Balance: 1010 30 1330 20 3310 50 50 50 Year 1 Parent Account (69X8000) Proprietary Pre-Closing Trial Balance (FACTS I): 1330 570 2150 20 5755 600 5765 50 620 620 Closing Entry: C1) To record the closing of other financing sources into cumulative results of operations. (TC F228) 5755 Nonexpenditure Financing Sources - Transfers-In 600 3310 Cumulative Results of Operations 550 5765 Nonexpenditure Financing Sources - Transfers-Out 50 Post-Closing Trial Balance: 1330 570 2150 20 3310 550 570 570 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Recipient Account (14-69X8000) SF 133: Report on Budget Execution and Budgetary Resources 1. Budgetary Authority A. Appropriations C. Contract Authority D. Net Transfers (4137E-B, 4175E) 50 7. Total Budgetary Resources 50 8. Obligations Incurred 9. Unobligated Balance Available (4620E) 50 11. Total Status of Budgetary Resources 50 15 Total Outlays (calculation) 0 Year 1 Parent Account (69X8000) SF 133: Report on Budget Execution and Budgetary Resources 1. Budgetary Authority A. Appropriations (4126E-B, 4138E) 600 C. Contract Authority (4131E) 1,000 D. Net Transfers (4137E-B, 4175E) (50) 6. Permanently Not Available E. Other Auth.W/drawn (4135E, 4136E-B) (600) 7. Total Budgetary Resources 950 8. Obligations Incurred 9. Unobligated Balance Available (4620E) 950 11. Total Status of Budgetary Resources 950 15 Total Outlays (calculation) 0 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Recipient Account (14-69X8000) USSGL 2108: Year-End Closing Statement Col. 2 Preclosing unexpended balance 30 Col. 3 Cur. Year CA realized (4131E) 0 Col. 4 Unobligated. and obligated. bal. Withdrawn/canceled (4135E) 0 Col. 5 Postclosing unexpended bal. (1010E) 30 Col. 6 Other Auth. (4131E, 4135E, 4139B) 0 Calc. (2+3-4-5=6) Col. 7 Reimbursements Earned (4137E) 20 Col. 9 Undelivered Orders Col. 10 Accounts Payable and Other Liabilities Col. 11 Unobligated balance (4620E) 50 Calc (5+6+7+8=9+10+11) Year 1 Parent Account (69X8000) USSGL 2108: Year-End Closing Statement Col. 2 Preclosing unexpended balance 0 Col. 3 Cur. Year CA realized (4131E) 1,000 Col. 4 Unobligated. and obligated. bal. Withdrawn/canceled (4135E, 4136E-B) (600) Col. 5 Postclosing unexpended bal. (1010E) 0 Col. 6 Other Auth. (4131E, 4135E, 4136E, 4139B) 400 Calc. (2+3-4-5=6) Col. 7 Reimbursements Earned (4126E, 4137E) 550 Col. 9 Undelivered Orders Col. 10 Accounts Payable and Other Liabilities Col. 11 Unobligated balance (4620E) 950 Calc (5+6+7+8=9+10+11) Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 1 Program and Financing Schedule (P & F) (Parent/Recipient Accounts Consolidated) Total New Obligations 1000 Total new obligations 0 Budgetary Resources Available For Obligation 2149 Unobligated balance available, start of year: Contract authority (Not supported by USSGL) 2200 New budget authority (gross) (calc 4000..6990) 1,000 2390 Total budgetary resources avail for obligation (calc) 1,000 2449 Unobligated balance available, end of year: Contract authority (Not supported by USSGL) 2499 Total unobligated balance, end of year (4620E) 1,000 New Budgetary Authority (Gross), Detail 4026 Appropriation (trust fund, definite) (4126E-B, 4138E) 600 4049 Portion applied to liquidate contract authority (4135E,4136E-B) (600) 4100 Transferred to other accounts (-) (4175E) (30) 4200 Transferred from other accounts (+) (4175E) 30 4300 Appropriation (total discretionary) (calc) 0 6610 Contract authority (definite) (4131E) 1,000 6661 Transferred to other accounts (-) (4137E-B) (20) 6662 Transferred from other accounts (+) (4137E-B) 20 6690 Contract authority (total mandatory) (calc) 1,000 7000Total new BA (gross) (4126E-B, 4131E, 4135E, 4136E-B, 4137E-B, 4138E, 4175E) 1,000 Memorandum Entries 7501 Obligated balance, start of year: CA (Not supported by USSGL) 7502 Obligated balance, end of year: CA (Not supported by USSGL) Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 1 OMB Form and Content Statements (Parent/Recipient Accounts Consolidated) Balance Sheet ASSETS 1A1 Fund Balance With Treasury (1010E) 30 1A2 Accounts Receivable (1330E) 590 LIABILITIES and NET POSITION 3A1 Accounts Payable (2150E) 20 8. Cum. Results of Operations (3310E) 600 Statement of Net Cost 1B1 Program Costs – Public - Production (6100E) 0 1D Less Earned Revenue 0 5 Net Cost of Operations (calc) 0 Statement of Changes in Net Position 1 Net Cost of Operations 0 2E Financing Sources-Transfers-in (5755E) 650 2F Financing Sources-Transfers-out (5765E) (50) 8 Net Position – Beginning of Period 0 9 Net Position - End of Period (calc) 600 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 1 OMB Form and Content Statements (Parent/Recipient Accounts Consolidated) (continued) Statement of Budgetary Resources 1A Budg Auth - Approps (4126E-B, 4138E) 600 1C Budg Auth - Contract Authority (4131E) 1,000 1D Budg Auth - Net Transfers (4137E-B, 4175E-B) 0 4C5 Adjustments-Pursuant to P.L. (4135E, 4136E-B) (600) 5 Total Budgetary Resources 1,000 7B Unob Bal Avail-Exempt from Apport (4620E) 1,000 9 Total Status of Resources 1,000 15 Total Outlays (calculation) 0 Statement of Financing 1A Obligations Incurred 0 2A Chg in Amt of Goods/Services (Incr)/Decr (0) 5 Net Cost of Operations (calc) 0 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 2 Parent Account (69X8000) Recipient Account (14-69X8000) 1. Recipient account requests transfer of funds to liquidate the contract authority that was originally transferred in Year 1. This is accomplished via SF 1151. First, an SF 1151 must be processed to move the fund balance from the Fiscal Service corpus account into the parent account. A. To record the SF 1151 transfer-in from the Fiscal Service corpus account into the parent account. (TC A175) Budgetary 4136 CA to be Liquidated by TF 15 4126 Amts Appropriated fr Specific TreasuryManaged TF TAFS – Receivable 15 and 4138 Appropriations to Liquidate CA 15 4135 Contract Authority Liquidated 15 Proprietary 1010 Fund Balance With Treasury 15 1330 Receiv for Trans of Curr Inv Bal 15 1. Recipient account requests transfer of funds to liquidate the contract authority that was originally transferred in Year 1. This is accomplished via SF 1151. First, an SF 1151 must be processed to move the fund balance from the Fiscal Service corpus account into the parent account. A. To record the SF 1151 transfer-in from the Fiscal Service corpus account into the parent account. N/A Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 2 Parent Account (69X8000) Recipient Account (14-69X8000) B. To record the immediate SF 1151 transfer-out to the recipient account in order to liquidate the contract authority originally transferred in Year 1. (TC A180) Budgetary 4137 Transfers of Contract Authority 15 4175 Allocation Transfers of CY Authority for Non-Invested Accounts 15 Proprietary 2150 Payable for Trans of Curr Inv Bal 15 1010 Fund Balance With Treasury 15 B. To record the immediate SF 1151 transfer-in to the recipient account in order to liquidate the contract authority originally transferred in Year 1. (TC A181) Budgetary 4175 Allocation Transfers of CY Authority for NonInvested Accounts 15 4137 Transfers of Contract Authority 15 Proprietary 1010 Fund Balance With Treasury 15 1330 Receivable for Transfers of Currently Invested Balances 15 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 2 Parent Account (69X8000) Recipient Account (14-69X8000) 2. Recipient account records obligation, expenditure and disbursement of funds to non-Federal recipients. N/A 2. Recipient account records obligation, expenditure and disbursement of funds to non-Federal recipients. (TC B107) Budgetary 4620 Unob Fds Not Subj to Apportionment 15 4902 Delivered Orders - Obligations, Paid 15 Proprietary 6100 Operating Expenses/Program Costs 15 1010 Fund Balance With Treasury 15 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 2 Parent Account (69X8000) Budgetary Pre-Closing Trial Balance (FACTS II ATB): 4126 555 4135 15 4136 555 4137 5 4138 15 4139 970 4175 15 4620 950 1,540 1,540 Closing Entries: C1) To record the consolidation of actual net-funded resources. (TC F204) 4175 Alloc Transfers of CY Authority for NonInvested Accounts 15 4138 Appropriations to Liquidate CA 15 C2) To record the closing of fiscal year contract authority. (TC F206) 4135 Contract Authority Liquidated 15 4139 CA Carried Forward 15 Recipient Account (14-69X8000) Budgetary Pre-Closing Trial Balance (FACTS II ATB): 4137 5 4175 15 4201 30 4620 35 4902 15 50 50 Closing Entries: C1) To record the consolidation of actual net-funded resources. (TC F204) 4201 Total Actual Resources - Collected 15 4175 Alloc Transfers of CY Authority for Non-Invested Accounts 15 C1) To record the closing of expended authority paid. (TC 214) 4902 Delivered Orders - Obligations, Paid 15 4201 Total Actual Resources – Collected 15 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Recipient Account (14-69X8000) Post-Closing Trial Balance: 4137 5 4201 30 4620 35 35 35 Year 2 Parent Account (69X8000) Post-Closing Trial Balance: 4126 555 4136 555 4137 5 4139 955 4620 950 1,510 1,510 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Recipient Account (14-69X8000) Proprietary Pre-Closing Trial Balance (FACTS I): 1010 30 1330 5 3310 50 6100 15 50 50 Closing Entry: C1) To record the expenses into cumulative results of operations. (TC F228) 3310 Cumulative Results of Operations 15 6100 Operating Expenses/Prog Costs 15 Post-Closing Trial Balance: 1010 30 1330 5 3310 35 35 35 Year 2 Parent Account (69X8000) Proprietary Pre-Closing Trial Balance (FACTS I): 1330 555 2150 5 3310 550 555 555 Closing Entry: N/A Post-Closing Trial Balance: 1330 555 2150 5 3310 550 555 555 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Recipient Account (14-69X8000) SF 133: Report on Budget Execution and Budgetary Resources 1. Budgetary Authority D. Net Transfers (4137E-B, 4175E) 0 2A. Unob Bal, Brought Fwd (4137B, 4201B) 50 7. Total Budgetary Resources 50 8. Obligations Incurred (4902E) 15 9. Unobligated Balance Available (4620E) 35 11. Total Status of Budgetary Resources 50 15 Total Outlays (calculation) 15 Year 2 Parent Account (69X8000) SF 133: Report on Budget Execution and Budgetary Resources 1. Budgetary Authority A. Appropriations (4126E-B, 4138E) 0 D. Net Transfers (4137E-B, 4175E) 0 2A. Unob Bal, Brought Fwd (4126B, 4136B, 4137B, 4139B, 4201B) 950 6. Permanently Not Available E. Other Auth.W/drawn (4135E, 4136E-B) 0 7. Total Budgetary Resources 950 9. Unobligated Balance Available (4620E) 950 11. Total Status of Budgetary Resources 950 15 Total Outlays (calculation) 0 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Recipient Account (14-69X8000) USSGL 2108: Year-End Closing Statement Col. 2 Preclosing unexpended balance 30 Col. 3 Cur. Year CA realized Col. 4 Unobligated. and obligated. bal. Withdrawn/canceled Col. 5 Postclosing unexpended bal. (1010E) 30 Col. 6 Other Auth. Calc. (2+3-4-5=6) Col. 7 Reimbursements Earned (4137E) 5 Col. 10 Accounts Payable and Other Liabilities Col. 11 Unobligated balance (4620E) 35 Calc (5+6+7+8=9+10+11) Year 2 Parent Account (69X8000) USSGL 2108: Year-End Closing Statement Col. 2 Preclosing unexpended balance (4136B, 4139B) 400 Col. 3 Cur. Year CA realized Col. 4 Unobligated. And obligated. bal. Withdrawn/canceled (4135E, 4136E-B) 0 Col. 5 Postclosing unexpended bal. (1010E) 0 Col. 6 Other Auth. (4135E, 4136E, 4139B) 400 Calc. (2+3-4-5=6) Col. 7 Reimbursements Earned (4126E, 4137E) 550 Col. 10 Accounts Payable and Other Liabilities Col. 11 Unobligated balance (4620E) 950 Calc (5+6+7+8=9+10+11) Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 2 Program and Financing Schedule (P & F) (Parent/Recipient Accounts Consolidated) Total New Obligations 1000 Total new obligations (4902E) 15 Budgetary Resources Available For Obligation 2150 Unobligated balance available, start of year: Contract authority (Not supported by USSGL) 2200 New budget authority (gross) (calc 4000..6990) 0 2391 Total budgetary resources avail for obligation (calc) 0 2450 Unobligated balance available, end of year: Contract authority (Not supported by USSGL) 2499 Total unobligated balance, end of year (4620E) 985 New Budgetary Authority (Gross), Detail 4026 Appropriation (trust fund, definite) (4126E-B, 4138E) 0 4049 Portion applied to liquidate contract authority (4135E,4136E-B) 0 4100 Transferred to other accounts (-) (4175E) (15) 4200 Transferred from other accounts (+) (4175E) 15 4300 Appropriation (total discretionary) (calc) 0 6610 Contract authority (definite) 6661 Transferred to other accounts (-) (4137E-B) (15) 6662 Transferred from other accounts (+) (4137E-B) 15 6690 Contract authority (total mandatory) (calc) 0 7001Total new BA (gross) (4126E-B, 4135E, 4136E-B, 4137E-B, 4138E, 4175E) 0 Memorandum Entries 7501 Obligated balance, start of year: CA (Not supported by USSGL) 7502 Obligated balance, end of year: CA (Not supported by USSGL) Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 2 OMB Form and Content Statements (Parent/Recipient Accounts Consolidated) Balance Sheet ASSETS 1A1 Fund Balance With Treasury (1010E) 30 1A2 Accounts Receivable (1330E) 560 LIABILITIES and NET POSITION 3A1 Accounts Payable (2150E) 5 8. Cum. Results of Operations (3310E) 585 Statement of Net Cost 1B1 Program Costs – Public - Production (6100E) 15 1D Less Earned Revenue 0 5 Net Cost of Operations (calc) 15 Statement of Changes in Net Position 1 Net Cost of Operations 15 8 Net Position – Beginning of Period (3310B) (600) 9 Net Position - End of Period (calc) 585 Scenario VIII Trust Funds with Contract Authority Part II: Transfers of Contract Authority Year 2 OMB Form and Content Statements (Parent/Recipient Accounts Consolidated) (continued) Statement of Budgetary Resources 1A Budg Auth - Approps (4126E-B, 4138E) 0 1C Budg Auth - Contract Authority 0 1D Budg Auth - Net Transfers (4137E-B, 4175E-B) 0 2A Unobligated Balance Brought Forward (4126B, 4136B, 4137B, 4139B, 4201B) 1,000 4C5 Adjustments-Pursuant to P.L. (4135E, 4136E-B) ( 0) 5 Total Budgetary Resources 1,000 6 Obligations Incurred (4902E) 15 7B Unob Bal Avail-Exempt from Apport (4620E) 985 9 Total Status of Resources 1,000 10 Obligations Incurred (4902E) 15 15 Total Outlays (calculation) 15 Statement of Financing 1A Obligations Incurred (4902E) 15 2A Chg in Amt of Goods/Services (Incr)/Decr (0) 5 Net Cost of Operations (calc) 15