Foreign Reporting Requirements

Semi-Annual Report

Foreign Currency Semi-Annual Statement of Balances

Treasury will compile from its central accounts a semi-annual report entitled "Foreign Currencies Held by the U.S. Government." This report shows foreign currency balances (in currency units and dollar equivalents) held by Accountable Officers for the report of entities excluding currencies held under dollar accountability. This statement will be prepared as of March 31 and September 30 each fiscal year. An electronic copy of the statement, or segment thereof, will be furnished to each entity for which balances are held.

Each entity will review the statement for agreement with its records. The initial review and return process should be accomplished within 10 working days following receipt from Treasury. If the balances presented in the report reconcile with entity balances for the time period represented, the entity will furnish to Treasury (see Contacts) a letter stating concurrence with the balance in question. If any discrepancies in the balances are identified by the entity during the review process, a letter of non-concurrence and a reconciliation of the balance held by the entity will be furnished to Treasury (see Contacts). Treasury will cooperate with each entity that has identified a discrepancy in balance(s) held and work to adjust balance(s) as necessary. As adjusted, it is a complete statement of the foreign currency balances held by Accountable Officers for the report of the entity and agrees with the records and reports of the entity.

Semi-annual Report on Country Owned Currencies

Each entity which administers the United States interest in foreign country owned "counterpart" funds will submit a semi-annual report, as of September 30 and March 31, of the unexpended balances of such funds. The report will be stated by country, currency units, and dollar equivalents and will be submitted on or before the date of return of the adjusted statement described in Sub-section 3225.40.

Federal Financial Management Standards

Functions and Activities

Financial Performance and Operational Reporting (FFM.110.040)

Provide general ledger information for agency-specific financial reports; Verify required financial reports can be traced to general ledger account balances; Includes providing financial performance and operational information to agency program offices.

Federal Financial Management System Requirements (FFMSR)

Providing GL Information (FFMSR 1.3.1)

Provide GL information for consolidated government-wide reporting as specified in the TFM and consistent with guidelines in the FASAB Handbook as well as OMB Circular No. A-136. Provide GL information for agency-specific financial reports consistent with OMB Circular No. A-136 and FASAB Handbook.

Defining Federal Funding Attributes to Align Financial Management Information with Performance Goals (FFMSR 1.4.1)

Provide federal funding attributes (for example, program, activity, and cost object) that align funding requests, funding allocations, fund obligations, fund expenditures, and costs with agency performance goals, as required by the Chief Financial Officer (CFO Act) as well as the Government Performance and Results Act and consistent with the FASAB Handbook, OMB Circular No. A-11, and OMB Circular No. A-136.

Verifying Traceability (FFMSR 2.3.2)

Verify that GL account balances can be traced to aggregated or discrete transactions in agency programmatic systems and that the aggregated or discrete transactions can be traced to the point of entry and source documents consistent with the TFM.

Verify that financial statements and other required financial and budget reports can be traced to GL account balances as required by OMB Circular No. A-123 and as specified in the TFM.

Use Cases

Record to Report

Treasury Financial Manual (TFM)

TFM Volume I Part 2 Chapter 3200; Foreign Currency Accounting and Reporting

Contact Information

Contact Details

Direct inquiries concerning this section to:

Funds Management Division
Room 102
Bureau of the Fiscal Service

PO Box 1328
Parkersburg, WV 26106-1328

Direct inquiries concerning the ATB and GTAS to:

Financial Reports and Advisory Division
Room 3602A
Bureau of the Fiscal Service

PO Box 1328
Parkersburg, WV 26106-1328

ATB and GTAS Contact List

Direct inquiries concerning USSGL reporting to:

Financial Reports and Advisory Division
Room 3602A
Bureau of the Fiscal Service

PO Box 1328
Parkersburg, WV 26106-1328

304-480-5129

Fax: 304-480-5176

USSGL Contact Link

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Financial Reporting Lifecycle

This page was last updated on August 27, 2021.