NET Transfers and USSGL USSGL Board Meeting May 18, 2006

1
NET Transfers and USSGLUSSGL Board MeetingMay
18, 2006

• Carolann Marker
• Budget Reports Division
• Kathy Winchester
• USSGL Division
• Financial Management Service, US Treasury

2
Overview of NETs

• Required Fields for Transfer From agency
• Transaction Date
• Effective Date
• Transfer Type
• Legal Authority
• Comment (NEW REQUIREMENT)
• From TAFS and To TAFS
• Amount

3
GWA-NETs
4
NET Relationships

• Benefits of using the NET Matrix in conjunction
  with GWA
• Provides a listing of the 4 transfer types
  (Appropriation, Balance, Reappropriation,
  Capital)
• Describes each type in detail
• Crosswalk to USSGL
• Crosswalk to the SF133
• Crosswalk to the TCS

5
Dates of Implementation

• New requirement Comment Field
• Transfer From entity will provide proprietary
  USSGL account when NET is prepared
• Feature is available now
• Becomes mandatory October 1, 2006

6
NET Transfers and USSGL

• I work for Budget not Accounting!

7
NET Transfers and USSGL

• Why is USSGL important on the NET?
• Partner can do proper accounting
• Easier reconciliation of intragovernmental
  transfers for both partners
• NET is the authoritative source document that
  passes between the transfer partners

8
NET Transfers and USSGL

• Transferring entity
• Select between 2 different Resource Types
• General Fund Appropriations
• Everything else
• Reimbursable or Revolving Fund activity
• Appropriations from Trust and Special Fund
  Receipt Accounts
• Transfers Received that were from
  reimbursable/revolving fund activity or from a
  Trust or Special fund expenditure account

9
NET Transfers and USSGL

• General Fund Appropriation is Resource
• USSGL 3103 Unexpended Appropriations
  Transfers Out
• CLUES
• TAFS Main 0000-3XXX. Most resources are from a
  general fund appropriation. But, think
• Is there money from reimbursable activity and is
  that being transferred? If yes, then use USSGL
  5765.
• Did the TAFS receive a transfer from a special or
  trust fund and is that being transferred? If yes,
  then use USSGL 5765.

10
NET Transfers and USSGL

• Everything else General Fund Appropriation is
  not the resource
• USSGL 5765 Nonexpenditure Financing Sources
  TransfersOut
• CLUES
• TAFS Main 4XXX, 5XXX, 8XXX. Resources are
  usually spending authority from offsetting
  collections or appropriations from special or
  trust fund receipt accounts. But, think
• Did the TAFS receive a direct general fund
  appropriation (not common) and is that being
  transferred? If yes, then use USSGL 3103.
• Did the TAFS receive a transfer of a general fund
  appropriation and is that being transferred. If
  yes, then use USSGL 3103.

11
NET Transfers and USSGL

• What documentation is available
• TFM Bulletin 06-03
• http//www.fms.treas.gov/tfm/vol1/06-03.html
• USSGL Scenarios General to Revolving Special
  to General
• http//www.fms.treas.gov/ussgl/approved_scenarios
• http//www.fms.treas.gov/ussgl/approved_scenarios
• Who is available to help?
• FMS
• USSGL Division Contact info on website
  www.fms.treas.gov/ussgl
• Budget Reports Division
• Budget Control Team 202-874-9870

12
NET Transfers and USSGL
Budget and Accounting can work it out!