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Governmentwide Financial Report System

Governmentwide Financial Report System

The Governmentwide Financial Report System (GFRS) is an application used to collect closing package information from Federal Program Agencies (FPAs). The Closing Package is a set of prescribed financial statements of an agency's department-level comparative, audited, financial data.

The primary purpose of this process is to present a comprehensive report on the government's financial position as well as defining a mechanism that assists with resolving material deficiencies identified by the Government Accountability Office (GAO).

GFRS replaces Federal Agencies' Centralized Trial-Balance System (FACTS I) and Intragovernmental Fiduciary Confirmation System (IFCS), which were decommissioned in 2014.


Regulations and Guidance Budget Deficit Reconciliation Intragovernmental Reports Forms Key Intragovernmental Dates FASAB Financial Report of the United States The Yellow Book OMB Circular A-136

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Last modified 11/14/18