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Why GTAS?
Streamlines reporting requirements for agencies by replacing FACTS I, FACTS II, IRAS and IFCS trial balance reporting systems
Integrates budgetary and proprietary reporting Enforces USSGL as the foundation of Governmentwide accounting Facilitates data
consistency and implements editing with the central accounting system Helps to address inconsistent financial statement data
4 Why GTAS?Streamlines reporting requirements for agencies by replacing FACTS I, FACTS II, IRAS and IFCS trial balance reporting systemsIntegrates budgetary and proprietary
reportingEnforces USSGL as the foundation of Governmentwide accountingFacilitates data consistency and implements editing with the central accounting systemHelps to address inconsistent
financial statement data
9 NEW TAS Attributes!!!FR Entity: Defines a group of TAS that are reported in an agency’s financial statements, which are included in the Financial Report of the United States Government.
Used in GFRS.1200 Agriculture1300 CommerceFinancial Receipt Type: Defines, at the TAS level, if the account activity is related to non-Federal ownership interest or statutory dedication of
specifically identified revenues to designated activities.Earmarked (E)Fiduciary (F)Undesignated (U)Budget Sub-function: Sub-functions used in the classification of data according to major
purpose served (for example, income, security, or national defense). Classifications are required by Congressional Budget Act of 1974.
11 Bulk File HighlightsDELETED: Advance Flag (FACTS II) is no longer a USSGL attribute. The domain values have been added to the authority type attribute.NEW! Program Cost Indicator –
the amount of cost or revenue directly or indirectly traceable to programs. Will be added to the Statement of Net Cost for FY 2011.Associated to Programs (P)Not associated to programs
(Q)NEW! Budgetary Impact Indicator – indicates if there is a budgetary impact. Will be added to the Statement of Changes in Net Position crosswalk for FY 2011.No budgetary impact
(E)Budgetary impact (D)UPDATED! Trading Partner Main Account – required wherever the Trading Partner is required. This is currently a requirement in FACTS II but not FACTS I.
12 Bulk File HighlightsIf an attribute is required for a USSGL account, it MUST be on the bulk file. No more derived values!!Prior Year Adjustment Attribute: GTAS will not derive domain value
X. Domain value X must be on the bulk file for the applicable USSGL accounts.Fed/NonFederal: GTAS will not derive domain value F for the budgetary transfer USSGL accounts. Domain value
F must be on the bulk file for the applicable USSGL accounts.
15 Special ValidationsA special validation involves 2 or more attributes (TAS or USSGL attributes) to validate that certain combinations are allowed or disallowed. Examples are:If the
Fed/NFed code is “F”, then trading partner agency identifier and trading partner main account code are both required. Trading partner main account is a new requirement for proprietary. We
want a value but if you don’t give us a value, the trial balance will still pass.If the balance is B (beginning), then the prior year adjustment value must be X.If the financing account indicator is
direct (D) or guaranteed (G) AND the account is budgetary, then the cohort attribute is required.If the BEA code is valid with the USSGL account, then the BEA code used with the USSGL
account must agree with the TAS level BEA code.If the 1st year indicator is yes (Y), then the PYA must be X.
16 Miscellaneous Receipts
FMS will sweep general fund miscellaneous receipt account balances as a pre closing entry.The sweep transaction will appear on the GWA account statement.Agencies are to record the
sweep as a pre closing entry.
20 Long Term ObjectivesPrepare U. S. financial statements and agency statements from same set of trial balances.Build a central repository of quality data that generates these statements
and can be queried for information that aids decision-making.