know how  >  know why  >  know now  > ™

 

Our Focus
  • Knowledge Management
  • e-Learning
  • Performance Support
Our Mission
  • Generate significant cost, performance, capability and accountability improvements
Know Net 2: Federal Finance SuperSite
Last Updated 03/18/2010

Instructional Topics in The Federal Budget Execution  Desk Reference

The Federal Budget Execution Desk Reference provides a best value solution to performance improvement with on demand learning and performance support as well as knowledge and skill assessments.

The Federal Budget Execution Desk Reference is available through your Agency Portal or your Contractor/Grantee Portal or via Individual Subscription.

For more information, please contact webmaster@knownet2.com


Introduction to Federal Budget Execution

Conclusion to Federal Budget Execution

To Top of Screen

Introduction to Federal Budget Execution

Introduction

  • Let's Begin
  • Knowledge Requirements of Federal Budget Execution

 

To Top of Screen

Module I Overview

1.0  Introduction

  • What We Will Learn
  • Key Concepts, Principles and Procedures

1.1  The Regulatory Environment

  • Legal Basis of Federal Budget Execution
  • Know Your Authorities

1.1.1  Legislation

  • The Constitution
  • Anti-Deficiency Act, Budget and Appropriation Control Legislation
  • Legislation on President's Budget/Congressional Budget Process
  • Legislation to Improve Balancing the Budget, Federal Financial Management and
    Federal Program Performance

1.1.2  Financial Management Policy

1.1.2.1  Office of Management and Budget (OMB)

1.1.2.2  Department of Treasury

  • Treasury Responsibilities
  • Overview of the Role of Treasury

To Top of Screen

1.1.2.3  Government Accountability Office (GAO)

1.1.3  Standards

  • Federal Accounting Standards and Advisory Board (FASAB)
  • Statements of Federal Financial Accounting Standards (SFFAS)

1.1.4  The Standard General Ledger (SGL)

  • What the SGL Does
  • The SGL Board

1.2  The Federal Budget Execution Team

  • The Program Official
  • The Budget Officer
  • The Accounting and Finance Officer
  • The Obligation Control Point
  • The Certifying Officer

1.3  Federal Budgeting

  • Focusing on the Basics
  • Process Highlights
  • Budget Execution

1.3.1  Fund Groups

1.3.2  Year Terminology

  • Current Year, Budget Year and Outyears
  • The Federal Fiscal Year

To Top of Screen

1.3.3  Spending

  • Budget Authority, Obligations and Outlays
  • Compliance Considerations
  • Anti-Deficiency Act Violations
  • Spendout Rate

1.3.4  Revenues

1.3.5  Deficits and Surpluses

1.3.6  Accounts

  • The Role of Accounts in Federal Budgeting
  • The Life of an Appropriation and its Account
  • The Focus of Budget Execution

1.4  Summary

  • What We Accomplished
  • What's Next

To Top of Screen

Module II The Federal Budget Execution Life Cycle

2.0  Introduction

  • What We Will Learn
  • Key Concepts, Principles and Procedures

2.1  Budget Execution

  • The Eleven Major Accounting Events

2.1.1  Budget Authority

  • Types of Budget Authority
  • Appropriations
  • Transfers
  • Spending from Offsetting Collections

2.1.2  The Warrant

  • Appropriation Symbols
  • Issuance of the Appropriation Warrant
  • TAFS Examples
  • Recording the Appropriation Warrant

To Top of Screen

2.1.3  Fund Control at OMB and Agency

2.1.3.1  Apportionment/Reapportionment

  • Purpose of Apportionment/Reapportionment
  • The SF 132
  • Budgetary Accounting Entry Required

2.1.3.2  Allotments

  • Visualizing Administrative Control of Funds
  • The Allottee
  • Anti-Deficiency Act Violations

2.1.3.3  Allowances

  • The Allowee
  • Responsibilities of the Allowee

2.1.3.4  Obligations

  • Legal Obligations
  • Anti-Deficiency Violations
  • Eliminating Obligations through Payment

2.1.4  Outlays

2.1.5  Expired Accounts

2.1.6  Cancelled Accounts

2.2  Summary

  • What We Accomplished
  • What's Next

To Top of Screen

Module III Federal Accounting

3.0  Introduction

  • What You Will Learn
  • Key Concepts, Principles and Procedures
  • The Federal Accounting Process

3.1  Accounting Bases

3.1.1  Budgetary Accounting

  • The Objectives of Budgetary Accounting
  • Conceptual Framework
  • Standard General Ledger (SGL) Budgetary Accounts
  • Reporting to Treasury
  • Reports from Treasury
  • Performance and Accountability Reports

3.1.2  Proprietary Accounting

  • The Objectives of Proprietary Accounting
  • Use of the Accrual Basis and Cost Accounting
  • The Standard General Ledger (SGL)
  • Conceptual Framework
  • Standard General Ledger (SGL) Proprietary Accounts

To Top of Screen

3.1.3  Cash Accounting

3.1.4  Cost Accounting

3.2  Governmentwide Systems

  • FACTS I - Reporting Proprietary Accounting Data to the Treasury
  • FACTS II - Reporting Budgetary Accounting Data to Treasury
  • MAX - Reporting Budgetary Accounting Data to MAX

3.3  Linking Accounting Events to the Budget

  • Linking the Appropriation Accounting Event to the Budget
  • Linking the Obligation Accounting Event to the Budget
  • Linking the Obligation by Budget Activity Accounting Event to the Budget
  • Linking the Outlay Accounting Event to the Budget

3.4  Accounting Systems

  • Let's Get Acquainted with Accounting Systems at the Federal Agency Level
  • Data Input to Accounting Systems
  • Accounting Classification & Coding Structure

To Top of Screen

3.4.1  Data Elements in a Common Accounting Number (CAN)

  • Use of the Common Accounting Number (CAN)

3.4.2  Internal Machine Number (IMN)

3.4.3  Object Codes

  • Object Codes Are Required
  • How Object Codes Are Used
  • Subobject Classifications

3.4.4  Data Elements and Attributes

3.4.5  Transaction Codes (TC)

  • How Transaction Codes (TCs) Are Developed
  • How Transaction Codes Are Used

3.5  Financial Transaction Processing

  • How a Transaction Posts to a Standard General Ledger (SGL) Account
  • Recording a Non-Standard Accounting Entry
  • Segments of a Transaction Code

To Top of Screen

3.4.3.4  Budget Authority Entries

3.4.3.5  Adjustments to Prior Year Authority

3.4.3.6  Intragovernmental Transactions

  • General Guidance
  • Identification of Trading Partners Required
  • Intragovernmental Business Rules

3.5  Trial Balances and their Uses

  • FACTS I
  • FACTS II

3.6  Internal Reports

  • Financial and Program Management Information
  • Status of Funds for an Allowee
  • FY CAN/Sub-Object Report
  • Manager's Cost Report

3.7  External Reports

  • Financial Statements and Other External Reports
  • FASAB Requirements
  • Basic Statements
  • Required Supplementary Stewardship Information (RSSI)
  • Required Supplementary Information (RSI)

3.7.1  Statement of Financial Position

3.7.2  Statement of Net Cost

3.7.3  Statement of Changes in Net Position

3.7.4  Statement of Budgetary Resources

3.7.5  Statement of Financing

3.7.2  Other External Reports

3.7.3  Performance Measurement and Reporting

3.8  Summary

  • What We Accomplished
  • What's Next

 

Conclusion to Federal Budget Execution


Conclusion

  • Your Job Is Important

To Top of Screen