Reporting Requirements

FR Reporting and Submission Dates

Reporting and Submission Dates

See Figure 2 for all the FR reporting and submission dates regarding, but not limited to, GTAS, intra-governmental transactions/balances, legal representation letters, Management Representation Letters (MRLs), annual restatements, adjustments, reclassification survey, and subsequent events.

Federal entity participation in the third quarter and/or year-end FR reporting submission and collaboration initiatives will be measured on the entity’s year-end Financial Report (FR) and Intra-governmental Transactions (IGT) Scorecards for the current FY. Entity performance measures include 1) timeliness; 2) timely/complete; 3) reconciliation of differences; 4) consistency and integrity; and 5) Significant Disclosures on key notes.

Figure 2: Reporting and Submission Dates

July 30, 2021		Significant entities must submit unaudited interim financial statements, limited to the Balance Sheet, SNC, and SCNP to MAX.gov.
August 6, 2021		Fiscal Service will provide the following: Significant Disclosures requests Fiscal Service will provide the federal entity technical experts the Significant Disclosures Template, final published version of note(s) from the prior-year FR identified "key notes" presenting a greater risk of failing to meet prescribed disclosure requirements, as well as auditor comments on each of the note(s) (if applicable) from the prior-year FR preparation process. See subsection 4730.10 for complete details.
*August 20, 2021		Significant entity IGs must submit the interim Legal Representation Letters and Management Schedules (using the Management Schedule template provided by Fiscal Service) to Fiscal Service, DOJ, and GAO.
September 2, 2021		In accordance with OMB Circular No. A-136, Section III.2 and III.3, significant entities must submit: Variance analysis Unaudited notes. SIRA must include updates to social insurance with this requirement. In addition, significant entities must submit: Completed Budget Deficit Reconciliation template
September 3, 2021		Federal entities are required to provide responses to the following: Restatement, Adjustment, and Reclassification survey Significant Disclosures requests All federal entities (significant and other) are required to submit a completed annual Restatements, Adjustments, and Reclassifications survey template via the MAX.gov website. See subsections 4730.10 for complete details. Federal entity technical experts are required to provide feedback on the Significant Disclosures template as well as any narrative updates from prior-year FR. See subsection 4730.10 for complete details.
October 6, 2021		GTAS opens for September 30, 2021, ATB submission.
October 18, 2021		GTAS expenditure TAS must be certified by 5 p.m. ET.
October 25, 2021		DOL reports the draft Social Insurance data for Black Lung and Unemployment Insurance, and RRB reports the draft Social Insurance data for Railroad Retirement to MAX.gov.
November 4, 2021		GTAS Period 12 Revision window closes at 5 p.m. ET.
November 12, 2021		GTAS Period 12 Extension window closes at 2 p.m. ET. Please contact Fiscal Service if there are any adjustments needed to GTAS data after November 12, 2021.
November 13, 2021		Year-end Material Differences Reports (MDRs) are available in GTAS to be explained and certified. The Raw Data File is also available in GTAS.
November 15, 2021		Final audited financial statements are due to MAX.gov and also by email to GAO by 6 p.m. ET.
*November 15, 2021		Significant entities must submit a variance analysis in accordance with OMB Circular No. A-136, Section IV.2. Significant entities must submit a completed Budget Deficit Reconciliation template via the MAX.gov website. (Please see subsection 4735.10.) Significant entity IGs must submit the final Legal Representation Letter and Management Schedules (using the Management Schedule template provided by Fiscal Service) to Fiscal Service, DOJ, and GAO by 6 p.m. ET. Significant entities must submit the Management Representation Letter in conjunction with the Uncorrected Misstatements (SUM) via email to Fiscal Service and GAO. Upload the required documents to OMB via the MAX.gov website (Please see Section 4730).
November 19, 2021		Fiscal Service will provide the federal entity technical experts the Significant Disclosures Template, an updated version of note(s) from the third quarter analysis. FR identified key notes presenting a greater risk of failing to meet prescribed disclosure requirements, as well as auditor comments on each of the note(s) (if applicable) from the prior-year FR preparation process. See subsection 4730.20 for complete details.
November 19, 2021		DOJ will provide the interim government-wide Legal Representation Letter to GAO, OMB, and Treasury.
November 30, 2021		Federal entity CFOs submit their Representations for Intra-governmental Activity and Balances to the entity's IG and Fiscal Service. All year-end MDRs must be certified in GTAS by 5 p.m. ET.
December 3, 2021		Federal entity technical experts are required to provide feedback on the Significant Disclosures template as well as any narrative updates from prior-year FR. See subsection 4730.20 for complete details.
December 9, 2021		Fiscal Service will provide a reconciliation to significant federal entities that provides a crosswalk between the gross cost and earned revenues in the consolidated FR to the gross cost and earned revenue reported by the entity on their SNC.
December 9-16, 2021		Federal entity FR review period. Comments are due by close of business.
January 26, 2022		Significant entity IGs must provide Fiscal Service information relating to subsequent events that occurred from the effective date of their final Legal Representation Letters through January 21, 2022. Send this information via email to Fiscal Service, DOJ, and GAO.
January 28, 2022		DOJ will provide the final government-wide Legal Representation Letter to GAO, OMB, and Treasury.
February 8, 2022 By NOON		Significant entity CFOs must provide Fiscal Service information about subsequent events that affected their financial statements and any additions or edits to Management Representation Letters that have occurred from the date of the financial statement's audits through February 7, 2022. Send this information by noon via email to Fiscal Service, Treasury (Main), OMB, and GAO.
February 17, 2022		Financial Report of the U.S. Government is published.

* Represents the “no later than date.” Federal entities should submit data as early as possible.

Third Quarter Reporting: Unaudited Financial Statements and Notes

The purpose of these submissions is to enable Fiscal Service to conduct preliminary analysis on federal entity data to facilitate preparation of the FR.

Interim Financial Statements, Notes, Variance Analysis, and Budget Deficit Template

Significant entities must submit unaudited interim financial statements 21 business days after the end of third quarter. Comparative interim financial statements are limited to the Balance Sheet, SNC, and SCNP. Significant entities must submit a variance analysis in accordance with OMB Circular No. A-136, Section III.2, unaudited notes in accordance with OMB Circular No. A-136, Section III.3, and a completed Budget Deficit template 45 business days after the end of third quarter (see Figure 2 for all due dates). All applicable documents are to be transmitted through MAX.gov, but may also be transmitted directly to Fiscal Service in accordance with Fiscal Service requests.

Restatements, Adjustments, and Reclassifications Survey, and Significant Disclosures

To support the additional collaboration needed to report corrections of errors and changes in accounting principle, according to SFFAS No. 21, all federal entities will download an annual Restatement, Adjustment, and Reclassification Survey via the GTAS website. This survey is to assess whether entities anticipate having any corrections of errors, changes in accounting principles, or changes in presentation for the current FY. Surveys are to be transmitted through MAX.gov for submission to Fiscal Service (see Figure 2), but may also be transmitted directly to Fiscal Service in accordance with Fiscal Service requests. The entity response will be measured on its year-end Financial Report (FR) and Intra-governmental Transaction (IGT) Scorecard for the current FY.

Fiscal Service will also require federal entities’ assistance with completing the analysis of the primary/focus notes listed below that present a greater risk of failing to meet the prescribed disclosure requirements. The primary/focus notes appearing in bold below are the significant subject matters considered to be “key” notes to the analysis process. “Key notes” are identified as being relatively new to the FR, or more complex when compared to the other primary/focus notes. These “key” notes require more collaboration between the subject matter accountants and the entity contacts:

Cash and Other Monetary Assets,

Loans Receivable, Net and Loan Guarantees Liabilities,

Federal Debt and Interest Payable,

Federal Employee and Veteran Benefits Payable,

Contingencies,

Social Insurance,

General Property, Plant, and Equipment, Net,

Disclosure Entities and Related Parties,

Insurance and Guarantee Program Liabilities,

Fiduciary Activities,

Investments,

Environmental and Disposal Liabilities,

Commitments,

Public-Private Partnerships, and

Funds from Dedicated Collections.

Federal entities should submit to Fiscal Service their contact information for internal representatives who are considered technical experts in the subject matter areas listed above, and who will be the point of contact for close collaboration throughout interim analysis and preparation of the FR. Contact information must include name, phone number, email address, and subject matter area(s) of expertise and be submitted to Fiscal Service at financial.reports@fiscal.treasury.gov no later than 21 business days after the end of the third quarter. For “key” notes, Fiscal Service will provide the federal entity technical experts, as identified by the federal entity, the Significant Disclosures template, a Word document copy of the prior-year final published version of the “key” note(s), as well as auditor comments on each note (if applicable) received throughout the prior-year FR preparation process (see Figure 2). Federal entity technical experts are required to provide feedback on the Significant Disclosures template on items of significance that occurred during the FY that should be considered by Fiscal Service for disclosure in the FR during its analysis and compilation process (see Figure 2). In addition, federal entities are required to provide current-year updates, e.g., changes to existing wording, addition of new material information, etc., to the prior-year notes using the Word documents with the Track Changes feature in Microsoft Word. Auditor comments received on the “key” notes during the prior-year FR preparation process are provided to the federal entity technical experts to use as a guide for understanding auditor perspectives and expectations during review of the FR. The intention is to use this understanding to resolve in advance any anticipated issues for the current FY based on auditor feedback on prior-year disclosures in the FR. Federal entity participation in the third quarter collaboration initiative will be measured on the entity’s year-end Financial Report (FR) and Intra-governmental Transactions (IGT) Scorecards for the current FY.

Non-fiduciary Transactions

For non-fiduciary transactions, OMB requires reporting entities to reconcile and confirm intra-governmental activity as well as balances quarterly for the following reciprocal groupings:

Services provided and reimbursables. Examples include, but are not limited to, legal, consulting, investigative, financial management, grants management, technology, reimbursables, and other similar services.

Cost of products sold. Examples include, but are not limited to, supplies, manufactured items, inventory, office space, and equipment/vehicle rentals.

Transfers, appropriations used, and collections for others, as well as unusual assets and liabilities related to appropriations. Examples include, but are not limited to, transfers between federal entities based on agreements or legislative authority, expended appropriations, taxes and fees collected, collections for others, receivables from appropriations, transfers payable, and custodial revenue.

The above listings of examples are not exhaustive; additional examples in each category may qualify as non-fiduciary transactions.

Intra-governmental Transactions Metrics and Scorecards

Fiscal Service has implemented scorecards and metrics to track reporting differences government-wide by federal entity. Scorecards will be updated quarterly and disseminated to significant entities and other entities as determined by Fiscal Service. The purpose of the metrics is to monitor progress on resolving or explaining material intra-governmental differences. Refer to Appendix 5, subsection 2.4, for further information on the timeline for these scorecards and metrics as well as related federal entity requirements.

Federal Financial Management Standards

Functions and Activities

Financial Statement Preparation (FFM.110.020)

Prepare financial statements and footnotes required by OMB Circular A-136; Verify financial statements and other required financial reports can be traced to general ledger account balances and are compiled in accordance with the USSGL Crosswalks; Determine and record eliminations required to generate consolidated financial statements; Includes generating variance analyses for timely submissions, balance sheet, statement of net cost, statement of changes in net position, statement of budgetary resources, reconciling SF-133 to the statement of budgetary resources, statement of custodial activity, statement of social insurance, statement of changes in social insurance amounts, required supplementary information, and required supplementary stewardship information, as applicable.

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.

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 4700; Federal Entity Reporting Requirements for the Financial Report of the United States Government

Contact Information

Contact Details

Direct inquiries and deliver documents required by this section to:

Department of the Treasury
Bureau of the Fiscal Service
Financial Reporting Division

PO Box 1328
Parkersburg, WV 26106-1328

financial.reports@fiscal.treasury.gov

Also, deliver documents required by this section to:

Carolyn Voltz, CPA
Government Accountability Office

441 G Street, NW, Room 5X23
Washington, DC 20548

USCFS@gao.gov

Carol S. Johnson, Policy Analyst
Office of Management and Budget
Office of Federal Financial Management

725 17th Street, NW
Washington, DC 20503

csjohnson@omb.eop.gov

MAX.gov website

Scott Bell, Senior Staff Accountant
Office of the Fiscal Assistant Secretary

1500 Pennsylvania Ave, NW
Washington, DC 20220

robert.bell@treasury.gov

Legal Letters:

Department of Justice

Legal.Letters@usdoj.gov

Direct inquiries about items required by USASpending to:

USAspending Project Management Office: datapmo@fiscal.treasury.gov

Direct technical inquiries about USASpending to:

USAspending Service Desk: https://servicedesk.usaspending.gov

Help Desk: usaspending.help@fiscal.treasury.gov

Direct policy-related questions about USASpending to:

Office of Management and Budget: spendingtransparency@omb.eop.gov

For access to DAIMS documents:

Current DAIMS release: https://www.fiscal.treasury.gov/data-transparency/DAIMS-current.html

Subscribe for USASpending Updates

To receive periodic updates when USAspending.gov is updated, subscribe by sending an email to this mailing list: join-usaspending@lists.fiscal.treasury.gov