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Fund Balance with Treasury


Background

Agency Reconciliation of Fund Balance with Treasury

The Fund Balance with Treasury (FBWT) is an asset account that shows the available budget spending authority of federal agencies. Collections and disbursements by agencies increase or decrease the balance in the account.

Agencies report changes to this account to the Bureau of Fiscal Service (Fiscal Service), Department of Treasury through monthly reporting on Statements of Transactions (FMS 224, 1220, or SF 1221) and Statements of Accountability (FMS 1219 and SF 1218).

Fiscal Service is the federal government's financial manager responsible for providing accurate financial information to Congress and the general public. To ensure the integrity of the receipt and disbursement data submitted by agencies, Fiscal Service compares agencies' fund balance reporting with comparable data submitted by financial institutions and Treasury Regional Financial Centers.

Agencies are notified of any discrepancies on a monthly Statement of Differences report (FMS 6652). Agencies are responsible for investigating and resolving these differences and reporting any required adjustments on their monthly reports.

Changes in FBWT Reporting Requirements

In October 2002, FMS (now Bureau of the Fiscal Service) issued TFM Volume 1, Part 2, Chapter 3400, Accounting for and Reporting on Cash and Investments Held Outside of the U.S. Treasury. This chapter required that agencies begin to report to Treasury monthly, via FMS 224, FMS 1219/1220 or SF 1218/1221, all cash that is not in a Treasury General Account (TGA) and investments in non-federal securities.

In anticipation of Treasury's future plans to eliminate FMS 224, FMS 1219/1220 or SF 1218/1221 reporting as it currently exists, the TFM chapter also requires that agencies no longer maintain ending accountability balances (line 5.0 of the 1218 and 1219). All transactions are required to be classified to a Treasury Account Symbol. The TFM chapter provides guidance on how to clear these balances.

Visit the Central Accounting Reporting System (CARS) section of this website for detailed information on Fiscal Service plans to modernize reporting requirements and to improve the timeliness in which data is made available to agencies.

For more information, please call the Treasury Support Center at 877-440-9476.



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