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Treasury’s Borrowings Program. Non-Credit Reform Program Stephanie Blair Accountant, Federal Borrowings Branch April 12, 2007. Summary of Presentation. Program Overview Standardizing Loan Agreements Intragovernmental Eliminations Fiscal Year End Reminders. Non-Credit Reform Balances. - PowerPoint PPT Presentation
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Treasury’s Borrowings Program
Non-Credit Reform Program
Stephanie BlairAccountant, Federal Borrowings Branch
April 12, 2007
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Summary of Presentation
Program Overview
Standardizing Loan Agreements
Intragovernmental Eliminations
Fiscal Year End Reminders
3
Fund Primary Assistant
Number Fund Title Fund Manager Fund Manager
12X4230 Rural Electrification and Telephone Revolving Fund, Liquidating Account Adam Gale
12X4336 Commodity Credit Corporation Fund, Liquidating Account Adam Gale
13X5396 Digital Television Transition and Public Safety Fund Carol Adam
14X4053 Helium Fund, Bureau of Land Management Gale Stephanie
15X4500 Prison Industries Fund, Department of Justice Stephanie Milissia
20X4521 Federal Financing Bank Revolving Fund Milissia Adam
33X0301 John F. Kennedy Parking Facilities, Smithsonian Institute Gale Carol
60X8010 Social Security Equivalent Benefit Account, Railroad Retirement Board Milissia Adam
64X4110 Tennesee Valley Authority Fund Carol Stephanie
69X1751 Ocean Freight Differential, Maritime Administration Adam Milissia
70X4236 Emergency Preparedness and Response, National Flood Insurance Fund Carol Milissia
86X4098 Low-Rent Public Housing Program, Renewal & Housing Assistance, HUD Adam Gale
89X4045 Bonneville Power Administration Fund Stephanie Carol
91X0242 College Housing and Academic Facilities Loans Liquidating Account Stephanie Carol
95X4331 Presidio Trust Expenses Gale Adam
96X3128 Washington Aqueduct Capital Improvements, Corps of Engineers Milissia Stephanie
Non-Credit Reform Fund Managers
4
Non-Credit Reform Balances
AgencyBalance Outstanding
(millions)Percent
FEMA, National Flood Insurance $17,335 32%
Federal Financing Bank $14,420 27%
Commodity Credit Corporation $11,074 21%
Railroad Retirement Board $ 4,284 8%
Rural Electrification & Telephone $ 3,115 6%
Bonneville Power Administration $ 2,417 5%
Remaining 10 Funds $ 602 1%
Total Loans Outstanding $53,247
As of February 28, 2007
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Non-Credit Reform Balances1%
32%
27%21%
8%6% 5%
FEMA, Nt'l Flood InsuranceFederal Financing BankCommodity Credit CorporationRailroad Retirement BoardRural Electrification & TelephoneBonneville Power AdministrationOther 10 Funds
Principal Balance Outstanding as of February 28, 2007
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Standardizing Agreements
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Division of Accounting OperationsVeronica Lowther, Director (Acting)
Federal Borrowings BranchCrystal Hanna, Manager
Jill Reeves, Team Lead Dorothy Dicks, Staff Accountant
Stephanie Blair, AccountantCarol Brooks, Accountant
Adam Charlton, AccountantGale Daggett, Accountant
Milissia Morris, AccountantTabitha Linch, Accountant
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Federal Borrowings Branch
Dorothy Dicks
JillReeves
Stephanie Blair
Gale Daggett
Carol Brooks
Milissia Morris
Crystal Hanna
Adam Charlton
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Basic Accounting
16 Non Credit Reform Funds 4 Funds per Accountant per Year
16 / 4 = ?????
4 Years to Learn All the Funds
Q:
A:
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Standard Language
Borrowing Authority
Interest Calculations
Interest Accruals
Interest Payments & Credits
Miscellaneous
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Borrowing Authority
Title of Act & Date Enacted
Public Law
Fund Name
Borrowing Limit (if any)
Expiration Date (if any)
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Interest Calculations
Fixed vs Variable Rate Calculating Late Payments Capitalized Interest
FFB CCC
Bond Ratings Computation of Rate
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Interest Accruals
Timing Day of Deposit Day of Withdrawal
Methods Actual / 360 Actual / 365 Actual / Actual Other Misc.
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Interest Payments & Credits
Consistency Monthly Quarterly Semi-Annually Annually
Provide Supporting Documentation by 1 p.m. EST on the Last Business Day of the Month
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Miscellaneous
Prepaying without Penalty
Right to Assignment
Amending MOU
Exhibits or Attachments
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Summary of Presentation
Program Overview
Standardizing Loan Agreements
Intragovernmental Eliminations
Fiscal Year End Reminders
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Intragovernmental Eliminations
Required Quarterly Reporting
Major Difference: Accrual Method
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Reconciliation of Differences
Reports Available Online to Assist www.treasurydirect.gov/govt/reports/tbp/tbp.htm
Agency needs to fill in all the fields in blue
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www.treasurydirect.gov/govt/apps/tbp/tbp.htm
Click here for online reports
Borrowings Website
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Choose a Month
Monthly Balances Reports
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Online Report Selection
Detailed Fund Specific Report
Summary General Ledger Report
Addt’l Info:How to Use the Reports
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$183,666,140.13- $110,978.58$183,555,161.55
BPD Interest Receivable Reported in IFCS
Detail Principal & Accrued Interest Report for December 2006
23Interest Credit documentation was not received
timely resulting in a reconciling issue and improper recording of revenues and expenses.
Detail Principal & Accrued Interest Report for January 2007
24
Year End GWA Transactions
Certify Borrowing & Repayment Transactions for September 30th
No Later than 3 p.m. EST on Friday, September 28th
25Year End Interest Payments & Credits Deadline is Friday Sept. 28th
Interest Credit Supporting Documentation is due by 1 p.m.
Interest Payment via IPAC is due by 3 p.m. Options
Estimate Cash Balances for Sept 28th – 30th and Adjust with October or
Receive Credit through Sept 28th based upon Actual Cash Balances and Include Sept 29th-30th with October Credit
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Certified Interest Rates
www.treasurydirect.gov/govt/apps/tbp/tbp.htm
Click here for interest rates
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Annual Interest Rates
www.treasurydirect.gov/govt/rates/tcir/tcir_opdirannual.htm#table8b
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Questions
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Address: Department of the Treasury Bureau of the Public Debt
Federal Borrowings Branch Room H113
P.O. Box 396 Parkersburg, WV 26106-0396
Phone: 304-480-7488
Fax: 304-480-5176
E-mail: [email protected]
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We would like to invite you and other members of your agency to visit the
Federal Borrowings Branch at the Bureau of the Public Debt in
Parkersburg, WV
