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Tie-Points Michele Crisman michele.crisman@fms.treas.gov Tie-Points What are tie-points? Where are tie-points? What are the benefits of tie-points? Tie-Points Project What are tie-points? Tie-points are relationships among sets of various USSGL account balances. Where are tie-points?

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tie points

Tie-Points

Michele Crisman

michele.crisman@fms.treas.gov

tie points2
Tie-Points
  • What are tie-points?
  • Where are tie-points?
  • What are the benefits of tie-points?
  • Tie-Points Project
what are tie points
What are tie-points?
  • Tie-points are relationships among sets of various USSGL account balances.
where are tie points
Where are tie-points?
  • Within the proprietary series of accounts

Example: Assets = Liabilities, Net Position, Expenses, Revenue & Gains/Loses

  • Within the budgetary series of accounts

Example: Budgetary Resources = Status of Budgetary Resources

  • Between the budgetary and proprietary series of accounts

Example: Accounts Payable = Delivered Orders-Obligations, Unpaid

where are tie points cont d
Where are tie-points?(cont’d)
  • Between the proprietary series of USSGL accounts and the Treasury Central Accounts

Example: Appropriations Received = Amounts Appropriated on the Account Statement

  • Between the budgetary series of USSGL accounts and the Treasury Central Accounts

Example: Appropriation Transfers = Amounts Transferred in GWA NET and noted on the Account Statement

what are the benefits of tie points
What are the benefits of tie-points?
  • Facilitates on-going validatation of trial-balance data
  • Facilitates early correction of reporting errors
  • Promotes an understanding of the USSGL
  • Provides a measure for the integrity of agency data at the agency and Governmentwide levels
what are the benefits of tie points7
What are the benefits of tie-points?
  • Highlights new USSGL issues
  • Facilitates explanation of valid exceptions
  • Provides standard edits for agencies’ financial systems or central data collection systems
tie points project
Tie-Points Project
  • FMS gathered agencies’ tie-points from IRC members and compiled into a single workbook.
  • Agencies tested the tie-points with each main TAFS and documented reasons for variances.
  • FMS analyzed comments, which led to splitting the workbook into fund types (General, Special, Trust, Revolving and Deposit).
fund types
Fund Types

Expenditure Account Symbols by Fund Group:

  • General Fund 0000-3999
  • Revolving Fund 4000-4999
  • Special Fund 5000-5999
  • Deposit Fund 6000-6999
  • Trust Fund 8000-8999
tie point workbook by fund type
Tie-Point Workbook by Fund Type
  • USSGL by Fund Type
  • All Tie-Points
  • Supplemental tie-point
  • Valid exceptions
tie points project trial balance tie point 2
Tie-Points Project –Trial-Balance Tie-Point #2

Budgetary Cash = Proprietary Cash

  • 2A Direct Method
    • Budgetary Resources less disbursements = Cash and Federal Investments
  • 2B Indirect Method
    • FMS 2108 Yearend Closing Statement approach
tie points project example of financial statement tie points
Tie-Points Project - Example of Financial Statement Tie-Points
  • Appropriations received on Statement of Budgetary Resources = Appropriations received on Statement of Changes in Net Position
  • Net Cost on Statement of Net Cost = Net Cost on Statement of Changes in Net Position
  • Statement of Budgetary Resources – Total Budgetary Resources = Total Status of Budgetary Resources
tie points project next steps
Tie-Points Project - Next Steps:
  • Complete draft general and revolving fund trial balance tie-point workbooks
  • Analyze financial statement tie-points
  • Address USSGL issues arising from the project
  • Incorporate tie-points in FIRST
tie points more information
Tie-Points – More Information
  • http://fms.treas.gov/ussgl/tie-point_project/tiepoints.html
  • Michele Crisman – Project Lead

Phone: (202) 874-1439

E-mail: michele.crisman@fms.treas.gov