Fluctuation Flux Analysis

1
Fluctuation (Flux) Analysis

• Finance Office Workshop with Line/Staff Offices
• April 30, 2009
• Candi Myers

2
Presentation Overview

• The Good
• The Bad
• The Flux-y

3
Presentation Overview

• Requirements
• What Is Required
• Purpose

4
Requirements

• CFO Audit Performance Accountability Report
• DoC/OFM must include discussion of
• financial trends
• analysis of financial condition and results
• OMB Circular A-136 Financial Reporting
  Requirements requires Federal agencies to
• prepare and submit quarterly to OMB fluctuation
  analyses, including a year-to-year fluctuation in
  financial statement line items
• provide analysis to independent auditors for audit

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What is Required

• Explanations required for
• fluctuations of 10 or more from prior period
  (increase and/or decrease)
• fluctuations greater than / equal to NOAA-12M
  and BIS-2M
• DoC/OFM reserves the right to request additional
  explanations from bureaus, even if line item did
  not meet the bureau threshold requirement
• Elements to address in flux analysis include
• WHAT caused the change
• WHERE the change occurred
• WHEN the change occurred

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Purpose

• Why perform flux analysis?
• Its required
• Identify and account for significant and unusual
  changes from previous period
• Help ensure accounting data is complete and
  accurate
• Assist management in monitoring and analyzing
  financial data
• Detect possible errors and take corrective
  action, if necessary
• Ensure specific program items impact flux as
  expected and are included (170M Farm Bill, 92M
  FY 2008 Supplemental for NMFS and NWS, 830M
  Recovery Act, etc.)

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• Questions?Mark P. MillerChief, Financial
  Statements Branch (Finance Office)301-444-2704Ma
  rk.P.Miller_at_noaa.gov