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Bulletin No. 2018-03
Bulletin No. 2018-03
Retention: May 31, 2018
To: Heads of Government Departments, Agencies, and Others Concerned
Subject: Implementation of SFFAS No. 47, Reporting Entity, to be effective fiscal year 2018
1. Purpose
This bulletin provides the Federal Accounting Standards Advisory Board’s (FASAB) SFFAS No. 47,Reporting Entity determinations received by the entities, reviewed by the Working Group, and approved bythe SFFAS No. 47 Steering Committee. The determinations are listed in Sections 6, 7, and 8 (ConsolidatedEntities, Disclosure Entities, and Related Party). Additional Governmentwide Financial Report System(GFRS) reporting guidance is provided for agencies with a determination of disclosure or related party.Transaction guidance is also included for agencies that use the Treasury Account Symbol (TAS) associatedwith the disclosure or related party entities.
SFFAS No. 47 was not written to rescind Statement of Federal Financial Accounting Concepts 2, Entity andDisplay, when addressing reporting entities and the criteria for inclusion. SFFAS No. 47 is to be used asadditional guidance to assist with making the determination of inclusion.
2. Authority
FASAB was created under the terms of the Federal Advisory Committee Act (FACA), as amended, (5U.S.C. app.) and is sponsored by the Comptroller General of the United States, the Director of the Office ofManagement and Budget (OMB), and the Secretary of the Treasury of the United States. In addition, since1999, FASAB has been the body designated by the American Institute of Certified Public Accountants(AICPA) to establish generally accepted accounting principles (GAAP) for federal government reportingentities.
3. Rescission
This Bulletin rescinds TFM Volume I Bulletin No. 2017-09: Implementation of SFFAS No. 47, ReportingEntity, to be effective fiscal year 2018.
4. Background
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SFFAS No. 47, Reporting Entity was published in December of 2014 with an effective date of fiscal year2018. Treasury, along with the SFFAS No. 47 Working Group (Working Group) and Steering Committee,has been engaged in achieving a successful implementation. A questionnaire was designed by compilingthe key deciding factors throughout FASAB Standard No. 47, and listing them in branch logic sequence.The document referenced the corresponding paragraphs in SFFAS No. 47 with each question. Thequestionnaire asked for the component reporting entity to be identified. Upon completion of the survey,the agency was led to a reporting determination of consolidation entity, disclosure entity, or relatedparty.
The SFFAS No. 47 questionnaire was distributed through email between August 2015 and March 2016.Multiple requests were emailed. If an agency did not respond, the Working Group made a determination forthe agency and emailed the agency a completed survey. The Working Group only asked for a negativeconfirmation of the survey determination. All surveys were reviewed by the Working Group and SteeringCommittee and discrepancies were addressed.
The survey supported the following determinations:
Component Reporting Entity—is used broadly to refer to a reporting entity within a largerreporting entity. Examples of component reporting entities include organizations such asexecutive departments, independent agencies, government corporations, legislative agencies,and federal courts. Component reporting entities would also include sub-components (thosecomponents included in the Government Purpose Federal Financial reports (GPFFR) of alarger component reporting entity) that may themselves prepare GPFFRs. An example would bea bureau that is within a larger department that prepares its own stand-alone GPFFR.Consolidation Entity—is an organization that should be consolidated in the financialstatements based on the assessment of "(a) is financed through taxes and other non-exchangerevenues (b) is governed by the Congress and/or the President (c) imposes or may imposerisks and rewards to the federal government and (d) provides goods and services on a non-market basis." It would also include organizations that would result in misleading or incompletefinancial statements if excluded.Disclosure Entity—is an organization with a greater degree of autonomy with the federalgovernment than a consolidation entity.Related Party—is an organization considered to be a related party in the GPFFR if the existingrelationship or one party to the existing relationship, and has the ability to exercise significantinfluence over the other party’s policy decisions.
The top down approach was used to identify entity determinations from a governmentwide perspective.Each component entity should perform an agency review to validate proper reporting at the agency level.For assistance in an agency level review, please contact Fiscal Service [email protected] to receive the SFFAS No. 47 Agency Analysis Excel workbook.
The Working Group also determined that certain entities should not be included in the reporting process.For other entities, a determination has not yet been made regarding their reporting category. These entitiesare listed in Sections 9 and 10 below, respectively.
SFFAS No. 47 agency review process was addressed during the May 18, 2017 CRT meeting byDepartment of Interior. This review may lead to additional consolidation, disclosure and related parties for acomponent entity. During this review, if any revisions/additions to SFFAS No. 47 Agency Determinations(Sections 6-10) are needed, please report all determination revisions/additions to Fiscal Service [email protected] and notate in the subject line “SFFAS No. 47”.
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5. Procedure/Requirements
In fiscal year 2018, agencies should report information based on the SFFAS No. 47 determination. SFFASNo. 47 determinations have been available for agency review on multiple websites over the last year(SFFAS No. 47 Q&A). SFFAS No. 47 Agency Determinations (sections 6-8) is the published version. Thisinformation will be used to report Appendix A: Reporting Entity of the Financial Report of the United StatesGovernment (FR) for fiscal year 2018. The SFFAS No. 47 Working Group will continue to address theDetermination Discrepancy/Not Submitted a Survey category outlined in SFFAS No. 47 AgencyDeterminations (section 10).
An agency with the determination of consolidated will provide financial information in the GovernmentwideTreasury Symbol Adjusted Trial Balance System (GTAS), unless other means are determined for financialreporting. This data will flow to the face of the governmentwide statements presented in the FR.
Agencies with a determination of disclosure or related party will continue to report Treasury AccountingSymbols (TAS), if applicable, but when utilizing the disclosure or related party TAS transactions must beprocessed as non-federal (N). Therefore, if you are doing business with a disclosure entity or relatedparty, make sure to report the federal or non-federal designation as non-federal. Financial informationfor these disclosures and related parties, if possible, will be provided in a note not linked to the financialstatements. The list of TAS associated with disclosure and related party entities are outlined in TAS toReport as Non-Federal w/Designation of Disclosure or Related Party (see below). Some disclosure andrelated party entities have no TAS association. If you feel a disclosure or related party entity has direct TASassociation, and it is not addressed in TAS to Report as Non-Federal w/Designation of Disclosure orRelated Party, please contact Fiscal Service at [email protected] and notate in thesubject line “SFFAS No. 47 Disclosure TAS”.
TAS to Report as Non-Federal w/Designation of Disclosure Entity or Related Party
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SFFAS No. 47 Agency Determinations
6. Consolidated Entities
FR Entity Reporting Agency
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Administrative Conference ofthe United States
Administrative Conference of the United States
Advisory Council on HistoricPreservation
Advisory Council on Historic Preservation
African DevelopmentFoundation
African Development Foundation
Agency for InternationalDevelopment
Agency for International Development
American Battle MonumentsCommission
American Battle Monuments Commission
Appalachian RegionalCommission
Appalachian Regional Commission
AppraisalSubcommittee
Federal Financial Institutions ExaminationCouncil
Federal Financial Institutions ExaminationCouncil Appraisal Subcommittee
Architect of the Capitol Architect of the Capitol
Botanic Garden
Architectural andTransportation BarriersCompliance Board
Architectural and Transportation BarriersCompliance Board
Armed Forces RetirementHome
Armed Forces Retirement Home
Barry Goldwater Scholarship &Excellence in EducationFoundation
Barry Goldwater Scholarship and Excellence inEducation Foundation
Broadcasting Board ofGovernors
Broadcasting Board of Governors
Bureau of Consumer FinancialProtection
Bureau of Consumer Financial Protection
Central Intelligence Agency Central Intelligence Agency
Chemical Safety and Hazard Chemical Safety and Hazard Investigation
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Investigation Board Board
Christopher ColumbusFellowship Foundation
Christopher Columbus Fellowship Foundation
Commission for thePreservation of America’sHeritage Abroad
Commission for the Preservation of America’sHeritage Abroad
Commission of Fine Arts Commission of Fine Arts
Commission on Civil Rights U.S. Commission on Civil Rights
Commission on InternationalReligious Freedom-(withinTemporary Commissions)
United States-Commission on InternationalReligious Freedom
Commission on Security andCooperation in Europe
Commission on Security and Cooperation inEurope
Commission to Eliminate ChildAbuse and Neglect Fatalities
Commission to Eliminate Child Abuse andNeglect Fatalities
Committee for Purchase fromPeople Who Are Blind orSeverely Disabled
Committee for Purchase from People Who AreBlind or Severely Disabled
Commodity Futures TradingCommission
Commodity Futures Trading Commission
Congress House and Senate(LEG)
Congress House and Senate (LEG)
Congressional Budget Office Congressional Budget Office
Congressional-ExecutiveCommission on the People'sRepublic of China
Congressional-Executive Commission on thePeople's Republic of China/Other LegislativeBranch Boards and Commissions
Consumer Product SafetyCommission
Consumer Product Safety Commission
Corporation for National andCommunity Service
Corporation for National and Community Service
Council of the InspectorsGeneral on Integrity andEfficiency
Council of the Inspectors General on Integrityand Efficiency
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Court Services and OffenderSupervision Agency for theDistrict of Columbia
Court Services and Offender SupervisionAgency for the District of Columbia
Defense Nuclear FacilitiesSafety Board
Defense Nuclear Facilities Safety Board
Defense Security CooperationAgency – Security AssistanceAccounts
Defense Security Cooperation Agency –Security Assistance Accounts
Delta Regional Authority Delta Regional Authority
Denali Commission Denali Commission
Department of Agriculture Department of Agriculture
Department of Commerce Department of Commerce
National Cybersecurity Center of Excellence
Department of Defense Department of Defense – Air Force
Department of Defense – Army
Department of Defense – Navy/Marines
Department of Defense – Office of the Secretaryof Defense
US Army Corps of Engineers – Civil WorksPrograms
Department of Education Department of Education
Institute of Education Sciences
Department of Energy Bonneville Power Administration
Department of Energy
Federal Energy Regulatory Commission (FERC)
Southeastern Power Administration
Southwestern Power Administration
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Western Area Power Administration
Ames Laboratory
Argonne National Laboratory
Brookhaven National Laboratory
Fermi National Accelerator Laboratory
Idaho National Laboratory
Lawrence Berkeley National Laboratory
Lawrence Livermore National Laboratory
Los Alamos National Laboratory
National Renewable Energy Laboratory
Oak Ridge National Laboratory
Pacific Northwest National Laboratory
Princeton Plasma Physics Laboratory
Sandia National Laboratory
Savannah River National Laboratory
SLAC National Accelerator Laboratory
Thomas Jefferson National Accelerator Facility
Department of Health andHuman Services
Department of Health and Human Services
National Cancer Institute
Department of HomelandSecurity
Department of Homeland Security
Homeland Security Studies and AnalysisInstitute
Homeland Security Systems Engineering andDevelopment Institute
National Biodefense Analysis and
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Countermeasures Center
Department of Housing andUrban Development
Affordable Housing Program
Department of Housing and Urban Development
Government National Mortgage Association
Department of Justice Department of Justice
Federal Prison Industries, Inc (Unicor)
Department of Labor Department of Labor
Panama Canal Commission
Department of State Administration of Foreign Affairs
Department of State
International Security Assistance
Department of the Interior Department of the Interior
Department of the Treasury Department of the Treasury
Federal Financing Bank
Department of Transportation Department of Transportation
Maritime Administration
Department of Veterans Affairs Department of Veterans Affairs
District of Columbia-DefenderServices/Courts
District of Columbia Courts
Dwight D. EisenhowerMemorial Commission
Dwight D. Eisenhower Memorial Commission
Eisenhower ExchangeFellowship Program
Eisenhower Exchange Fellowship Program
Election AssistanceCommission
Election Assistance Commission
Environmental DisputeResolution Fund
Environmental Dispute Resolution Fund
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Environmental ProtectionAgency
Environmental Protection Agency
Executive Office of thePresident
Executive Office of the President
Federal Drug Control Programs Federal Fund
Export-Import Bank of theUnited States
Export-Import Bank of the United States
Farm Credit Administration Farm Credit Administration
Farm Credit System InsuranceCorporation
Farm Credit System Insurance Fund
Federal CommunicationsCommission
Federal Communications Commission
Universal Service Fund
Telecommunications Relay Service Fund (TRS)
North American Numbering Plan (NANP)
Federal Deposit InsuranceCorporation
Federal Deposit Insurance Corporation
Federal Deposit Insurance Fund and FSLICResolution Fund
FDIC Office of Inspector General Federal Fund
Orderly Liquidation Federal Fund
Federal Election Commission Federal Election Commission
Federal Housing FinanceAgency
Federal Housing Finance Agency
Federal Labor RelationsAuthority
Federal Labor Relations Authority
Federal Maritime Commission Federal Maritime Commission
Federal Mediation andConciliation Service
Federal Mediation and Conciliation Service
Federal Mine Safety and HealthReview Commission
Federal Mine Safety and Health ReviewCommission
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Federal Trade Commission Federal Trade Commission
General Fund of the U.S.Government
General Fund of the U.S. Government
General ServicesAdministration
General Services Administration
Government AccountabilityOffice
Government Accountability Office
Government Printing Office Government Printing Office
Gulf Coast EcosystemRestoration Council
Gulf Coast Ecosystem Restoration Council
Harry S. Truman ScholarshipTrust Fund
Harry S. Truman Scholarship Foundation
Indian Law and OrderCommission
Indian Law and Order Commission
Institute of Museum and LibraryServices
Institute of Museum and Library Services
Intelligence CommunityManagement Account
Intelligence Community Management Account
Inter-AmericanFoundation
Inter-American Foundation
International TradeCommission
International Trade Commission
James Madison MemorialFellowship Foundation
James Madison Memorial FellowshipFoundation
Japan-United States FriendshipCommission
The Japan United States FriendshipCommission
JFK Center for Performing Arts JFK Center for Performing Arts
John C. Stennis Center John C. Stennis Center for Public ServiceTraining and Development
Library of Congress Library of Congress
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Marine Mammal Commission Marine Mammal Commission
Medicaid and CHIP Paymentand Access Commission
Medicaid and CHIP Payment and AccessCommission
Medicare Payment AdvisoryCommission
Medicare Payment Advisory Commission
Merit Systems Protection Board Merit Systems Protection Board
Military Compensation andRetirement ModernizationCommission
Military Compensation and RetirementModernization Commission
Millennium ChallengeCorporation
Millennium Challenge Corporation
Morris K. Udall and Stewart L.Udall Foundation
Morris K. Udall and Stewart L. Udall Foundation
National Aeronautics andSpace Administration
National Aeronautics and Space Administration
National Archives and RecordsAdministration
National Archives and Records Administration
National Capital PlanningCommission
National Capital Planning Commission
National Council on Disability National Council on Disability
National Credit UnionAdministration
National Credit Union Administration
The National Credit Union Share InsuranceFund
The National Credit Union AdministrationCentral Liquidity Facility
The National Credit Union AdministrationCommunity Development Revolving Loan Fund
Temporary Corporate Credit Union StabilizationFund
National Endowment for theHumanities
National Endowment for the Humanities
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National Foundation on the Artsand the Humanities
National Endowment for the Arts
National Gallery of Art National Gallery of Art
National Infrastructure Bank National Infrastructure Bank
National Labor Relations Board National Labor Relations Board
National Mediation Board National Mediation Board
National Railroad PassengerCorporation Office of InspectorGeneral
National Railroad Passenger Corporation Officeof Inspector General
National Science Foundation National Science Foundation
National Transportation SafetyBoard
National Transportation Safety Board
Neighborhood ReinvestmentCorporation
Neighborhood Reinvestment Corporation
Northern Border RegionalCommission
Northern Border RegionalCommission
Nuclear Waste TechnicalReview Board
Nuclear Waste Technical Review Board
Occupational Safety and HealthReview Commission
Occupational Safety and Health ReviewCommission
Office of Compliance Office of Compliance
Office of Government Ethics Office of Government Ethics
Office of Navajo and HopiIndian Relocation
Office of Navajo and Hopi Indian Relocation
Office of PersonnelManagement
Office of Personnel Management
Office of Special Counsel Office of Special Counsel
Open World Leadership Center Open World Leadership Center
Overseas Private InvestmentCorporation
Overseas Private Investment Corporation
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Patient-Centered OutcomesResearch Trust Fund
Patient-Centered Outcomes Research TrustFund
Peace Corps Peace Corps
Pension Benefit GuarantyCorporation
Pension Benefit Guaranty Corporation
Presidio Trust Presidio Trust
Privacy and Civil LibertiesOversight Board
Privacy and Civil Liberties Oversight Board
Public Defender Services forthe District of Columbia
Public Defender Services for the District ofColumbia
Federal Payment to the District of ColumbiaPublic Defender Service
Railroad Retirement Board Railroad Retirement Board
National Railroad Retirement Investment Trust
Securities and ExchangeCommission
Securities and Exchange Commission
Selective Service System Selective Service System
Senate Preservation Fund Senate Preservation Fund
Small Business Administration Small Business Administration
Smithsonian Institution Smithsonian Network
Friends of the National Zoo
Smithsonian Institution
Social Security Administration Social Security Administration
St. Lawrence SeawayDevelopment Corporation
St. Lawrence Seaway Development Corporation
State Justice Institute State Justice Institute
Surface Transportation Board Surface Transportation Board
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Tennessee Valley Authority Tennessee Valley Authority
The Judiciary Administrative Office of the United StatesCourts
Court of Appeals, District Courts, and otherJudicial Services
Judicial Retirement Fund
United States Court of Appeals for the FederalCircuit
United States Court of International Trade
Federal Judicial Center
United States Sentencing Commission
Judiciary Engineering and Modernization Center
Supreme Court of the United States
Thrift Savings Fund Federal Retirement Thrift Investment Board
Thrift Savings Fund
U.S. Capitol Police U.S. Capitol Police
U.S. Capitol PreservationCommission
U.S. Capitol Preservation Commission
U.S. Equal EmploymentOpportunity Commission
Equal Employment Opportunity Commission
U.S. Nuclear RegulatoryCommission
U.S. Nuclear Regulatory Commission
U.S. Postal Service U.S. Postal Service
U.S. Trade and DevelopmentAgency
Trade and Development Agency
United States Court of Appealsfor Veterans Claims
United States Court of Appeals for VeteransClaims
United States HolocaustMemorial
United States Holocaust MemorialMuseum
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Museum
United States Institute of Peace United States Institute of Peace
United States InteragencyCouncil on Homelessness
United States Interagency Council onHomelessness
United States Tax Court United States Tax Court
United States-China SecurityReview Commission-(withinTemporary Commissions)
United States-China Economic Security ReviewCommission
Vietnam Education Foundation Vietnam Education Foundation
Woodrow Wilson InternationalCenter for Scholars
Woodrow Wilson International Center forScholars
WWI Centennial Commission WWI Centennial Commission
7. Disclosure Entities
FR Entity Reporting Agency
Broadcasting Board ofGovernors
Middle East Broadcasting Network
Radio Free Asia
Radio Free Europe/Radio Liberty
Department of Defense Aerospace
Arroyo Center
Lincoln Laboratory
Project Air Force
Software Engineering Institute
Center for Naval Analyses
Institute for Defense Analysis (IDA) Systemsand Analysis Center
MITRE National Security Engineering Center
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National Defense Research Institute
Institute for Defense Analysis Communication &Computing Center
Nonappropriated Fund Instrumentalities
Department of Education Gallaudet University
Department of the Treasury Board of Governors of the Federal ReserveSystem
Corporation for Public Broadcasting
Corporation for Travel Promotion
Federal Home Loan Mortgage Corp (FreddieMac)
Federal National Mortgage Association (FannieMae)
Federal Reserve System
Securities Investor Protection Corporation
Federal Reserve Banks
Institute of American Indian and Alaska NativeCulture and Arts Development
International Monetary Fund
Legal Services Corporation
Multilateral Assistance
Department of Transportation Amtrak (National Railroad Passenger ServiceCorp)
Maritime Administration/Employees Associationand Regimental Activities Non-AppropriatedFund Instrumentalities
Center for Advanced Aviation SystemDevelopment (FFRDC & administered by MITRECorporation)
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Federal CommunicationsCommission
Universal Service Administrative Company
Securities and ExchangeCommission
Public Company Accounting Oversight Board
Securities Investor Protection Corporation
8. Related Party
FR Entity Reporting Agency
Export-Import Bank of theUnited States
Private Export Funding Corporation
National Credit UnionAdministration
Federal Financial Institutions ExaminationCouncil
9. Misleading to Include/Do Not Report Entities
FR Entity Reporting Agency Determination
Office of the FederalCoordinator for AlaskaNatural Gas TransportationProjects
Office of the FederalCoordinator for Alaska NaturalGas Transportation Projects
Do not report-Entityclosed on March 7, 2015due to lack of funding.
Department of Education American Printing House forthe Blind
Do not report.
Howard University Do not report.
National Technical Institute forthe Deaf
Do not report.
Department of Energy Electric ReliabilityOrganization
Do not report.
United States EnrichmentCorporation Fund
Do not report.
Department of theInterior/OSMRE
United Mine Workers ofAmerica Benefit Funds
Do not report.
Department of the Treasury Federal Home Loan Banks Misleading to include.
Student Loan Marketing Do not report.
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Association
Resolution FundingCorporation
Do not report-Obligationfulfilled in 2011.
Department ofTransportation
Washington Metropolitan AreaTransit Authority
Do not report.
Department of VeteransAffairs
Center for EnterpriseModernization
Do not report.
Federal CommunicationsCommission
Rolka Loube, LLC Misleading to include.
Neustar Misleading to include.
Welch LLP Misleading to include.
Federal Housing FinanceAgency
The Financing Corporation Do not report.
National Aeronautics andSpace Administration
Space ExplorationTechnologies Corporation
Do not report.
Blue Origin Do not report.
Orbital Sciences Corporation Do not report.
The Boeing Company Do not report.
Sierra Nevada Corporation Do not report.
Center for the Advancementof Science in Space
Do not report.
National ScienceFoundation
National Center forAtmosphere Research
Do not report.
National Optical AstronomyObservatory
Do not report.
National Radio AstronomyObservatory
Do not report.
National Solar Observatory Do not report.
Science and TechnologyPolicy Institute
Do not report.
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Office of the Nuclear WasteNegotiator
Office of the Nuclear WasteNegotiator
Do not report-Inactive.
Public Private InvestmentFunds
Public Private InvestmentFunds
Do not report-9/30/13PPIP was dissolved. Willnot report in fiscal year2018.
Recovery Accountability andTransparency Board
Recovery Accountability andTransparency Board
Do not report-Boardclosed in Sept 2015.
Securities and ExchangeCommission
Standard Setting Body Misleading to include.
Small BusinessAdministration
SCORE Misleading to include.
Tennessee Valley Authority Babcock and Wilcox Do not report.
U.S. Nuclear RegulatoryCommission
Center for Nuclear WasteRegulatory Analyses
Do not report.
10. Determination Discrepancy/Not Submitted a Survey
There are a few agencies who have not submitted a survey determination or survey is under discussionwith agency and SFFAS No. 47 working group members. If you are on this list, and have not provided asurvey, please contact [email protected] with the subject line titled “SFFAS No. 47”.
FR Entity Reporting Agency Determination Status
Department of Health andHuman Services
CMS Alliance to ModernizeHealthcare
WG has not received survey.
National Aeronautics andSpace Administration
Jet Propulsion Laboratory Survey received and underdiscussion.
National Commission onMilitary, National, and PublicService
National Commission onMilitary, National, and PublicService
New Entity – awaiting surveysubmission.
Women’s SuffrageCentennial Commission
Women’s SuffrageCentennial Commission
New Entity – awaiting surveysubmission.
11. GFRS Reporting for Disclosure Entities and Related Parties
Agencies with a determination of disclosure or related party will be required to prepare TFM Volume I, Part2, Chapter 4700, Appendix 3 and 3a Note 30 Disclosure and Related Parties. TFM Note 30 Disclosure and
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Related Parties (see below) outlines the questions that will be asked during the fiscal year 2018 GFRSsubmission. In May 2018 the TFM Volume I, Part 2, Chapter 4700 will be published with the updates fordisclosure and related parties.
TFM Disclosure and Related Parties
“Agency Note”–Provide a reference to where the data entered in this note can be found inthe agency’s audited financial statements or describe from where the entered data isderived (for example, note number, page number, agency worksheet, etc.).
“Other Notes Info” Tab
Section A—Disclosure Entity Reporting for the Central Banking System (to becompleted only by Treasury)
Line 1—Enter the amount of Treasury securities including securities held by the FederalReserve Bank (FRB) for the current fiscal year in the first column.
Line 2—Enter the amount of FRB earnings on Treasury securities that exceed thestatutory amount for the current fiscal year in the first column.
Line 3—Enter the amount of interest receivable on FRB Deposit of Earnings for thecurrent fiscal year in the first column.
Line 4—Enter the amount of the federal government’s maximum exposure to the gain orloss from its involvement with the Central Banking System (if this cannot be quantified,please provide response in “Text Data” tab).
Section B—Disclosure Entity Reporting (other than the Central Banking System)
Line 1—Enter the amount of the federal government’s maximum exposure to the gain orloss from its involvement with the disclosure entities (if this cannot be quantified, pleaseprovide response in “Text Data” tab).
“Text Data” Tab
Minimum Disclosures Regarding the Central Banking System
Line 1—(a) Describe the central banking system, including information about how itsmission relates to federal policy objectives, actions taken on behalf of the federalgovernment, its organization, and any significant involvement with outside parties. (b)Describe the relationship between the federal government and central banking systemincluding relevant information regarding governance structure with particular emphasis onmatters affecting its independence and insulation from political influence. (c) Describe thecentral banking systems current year significance and magnitude of financial actionsreported to achieve monetary and fiscal policy objectives. (SFFAS No. 47, par. 79a-c) (tobe completed only by Treasury)
Line 2—(d) Describe and summarize the assets, liabilities, revenues, expenses, gains,and losses recognized in the financial statements of the reporting entity as a
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consequence of transactions with or interests in the central banking system and the basisfor determining the amounts reported (or reference to other note disclosures where suchinformation is provided). (e) Describe the “Other Notes Info” tab, Section A “maximumexposure to the gain or loss from Central Banking System” determination. If amountcannot be quantified in “Other Notes Info” tab, narrative on maximum exposuredetermination is still required. (f) Provide the availability of the central banking systemannual financial reports and how they can be obtained. Include website link if available.(SFFAS No. 47, par. 79d-f) (to be completed only by Treasury)
Disclosure Entities (Other than the Central Banking System)
Questions 3-12 are to meet the objectives of Relationship and Organization,Relevant Activity, and Future expenses (SFFAS No. 47, par. 74 a-b). The list ofquestions is examples. No individual example is a required disclosure and theexamples are not required in the aggregate. The examples below are notexhaustive, and additional items of information necessary to meet the objectivesshould be disclosed even if not specifically identified in the list below (SFFAS No.47, par. 75). If a disclosure entity has a different reporting period than the reportingentity’s GPFFR, disclosure of information from the reporting period ending withinthe reporting entity’s reporting period is acceptable (SFFAS No. 47, par. A92).
Line 3—Provide name and description of the disclosure entity, including informationabout how its mission relates to federal policy objectives, actions taken on behalf of thefederal government, its organization, and any significant involvement with outside parties.(SFFAS No. 47, par. 75a)
Line 4—Describe the relationship between the federal government and disclosure entityincluding relevant information regarding "how control or influence over the disclosureentity is exercised, key terms of contractual agreements, statutes, or other legalauthorities, and the percentage of ownership interest and/or voting rights." (SFFAS No.47, par. 75b)
Line 5—Describe the intervention actions, the primary reason for the intervention and the"federal government’s plan relative to monitoring, operating and/or disposing of thedisclosure entity and/or a statement that the intervention is not expected to bepermanent." (SFFAS No. 47, par. 75c)
Line 6—Describe the summary of assets, liabilities, revenues, expenses, gains, andlosses recognized in the financial statements of the reporting entity as a consequence oftransactions with or interests in the disclosure entity and the basis for determining theamounts reported (or reference to other note disclosures where such information isprovided). (SFFAS No. 47, par. 75d)
Line 7—Describe the disclosure entity’s key financial indicators and changes in the keyfinancial indicators. (SFFAS No. 47, par. 75e)
Line 8—Provide information regarding the availability of the disclosure entity’s annualfinancial reports and how they can be obtained. (SFFAS No. 47, par. 75f)
Line 9—Describe the future financial impact (terms of the arrangements or provide
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financial support and liquidity, including events or circumstances that could expose thefederal government to a loss) to disclosure entities generated by contractual agreements,statues, or other legal authorities. (SFFAS No. 47, par. 75g)
Line 10—Describe the nature of, and changes in, the risks and benefits associated withthe control of, or other involvement with, the disclosure entity during the period. (SFFASNo. 47, par. 75h)
Line 11—Describe the “Other Notes Info” tab, Section B “maximum exposure to the gainor loss from the agencies involvement with the disclosure entity”. If amount cannot bequantified in “Other Notes Info” tab, narrative on maximum exposure determination is stillrequired including how the maximum exposure is determined. (SFFAS No. 47, par. 75i)
Line 12—Describe other information that would provide an understanding of the potentialfinancial impact, including financial-related exposures to risk of loss or potential gain tothe reporting entity, resulting from the disclosure entity’s operations including importantexisting, currently-known demands, risks, uncertainties, events, conditions, and trends-both favorable and unfavorable. (SFFAS No. 47, par. 75j)
Related Party Relationships
Line 13—Describe the nature of the federal government’s relationship with the relatedparty, including the name of the party or if aggregated, a description of the related parties.Such information also would include, as appropriate, the percentage of ownershipinterest. (SFFAS No. 47, par. 89a)
Line 14—Describe other information that would provide an understanding of therelationship and potential financial reporting impact, including financial-related exposuresto risk of loss or potential gain to the reporting entity resulting from the relationship.(SFFAS No. 47, par. 89b)
Effective Date
This bulletin is effective immediately.
Inquiries
Direct inquiries concerning this bulletin to:
Financial Reports and Advisory DivisionBureau of the Fiscal ServiceDepartment of the TreasuryPO Box 1328Parkersburg, WV 26106-1328Telephone: 304-480-6485Email: [email protected]
Date: March 29, 2018
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