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May 18, 1993

GAO'S POLICY AND PROCEDURES MANUAL FOR GUIDANCE OF FEDERAL AGENCIES

TITLE 7--FISCAL GUIDANCE

TRANSMITT AL SHEET NO. 7-43

Effective Date: Immediately

Material Transmitted: Complete revision of Title 7

Purpose: The General Accounting Office has revised Title 7 of its Policy and Procedures Manual for Guidance of Federal Agencies. Included are changes resulting from recent laws and Comptroller General decisions affecting the fiscal procedures covered by this title. The requirements in this title, although based on separate authorities, complement the agencies' existing federal accounting, internal control, and system standards.

This document was prepared after consulting with the Department of the Treasury, the Office of Management and Budget, and receiving comments from other government agencies. It also incorporates suggestions from the government's chief financial officers and inspectors general.

The principal changes include

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new procedures for adjusting and closing current and expired appropriation account balances;

documentation requirements and handling of certificated or "unvouchered" payments;

new dollar limits for reporting and resolving irregularities in the accounts of accountable officers related to physical and certain check losses;

new dollar limits for agencies to administratively adjust claims against the government;

guidance for agencies to grant relief to accountable officers for certain improper payments;

procedures to account for installment collection of debts owed the government; and

updated guidance on using electronic data interchange for financial transactions.

The significant changes to the existing Title 7 are marked by a vertical line in the left margin next to the text. There are additional, unmarked minor changes throughout the title to aid readability.

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Title 7 frequently refers to two publications that are currently under revision: (I) the Principles of Federal Appropriations Law, which is referenced as a source of further information on certain topics not covered in detail in this title, and (2) A Glossary of Terms Used in the Fedelal Budget Process which, pursuant to 31 U.S.c. 1112, contains standard definitions of fiscal terms for the government. These two publications will be widely distributed when the revisions are completed. In event of any inconsistencies between the

definitions of terms in the forthcoming revision of the Glossary and in Title 7, the Glossary definition will be controlling.

Filing Instructions Remove and destroy

Insert

Current basic Title 7 and all changes through Transmittal Sheet No. 7-42

Revised Title 7

Obtaining additional copies

Each federal department and agency receives a limited number of copies of all revisions and updates to GAO's Policy and Procedures Manual for Guidance of Federal Agencies. Copies are sent to agency heads, inspectors general or other agency audit heads, and departmental financial management offices. Additional copies are sent to other central locations in various departments and agencies and to congressional offices, based on specific requests.

Additional copies of this title may be obtained from the Superintendent of Documents at the Government Printing Office.

Notification of any correction or revisions to the addresses where we send copies of the Policv and Procedures Manual should be sent to the following address:

U.S. General Accounting Office Office of Information Management and Communications Publishing and Communications Center Distribution Section, Room 1012 441 G Street, NW Washington, DC 20548

Any questions about this title can be directed to the General Accounting Office, Accounting and Information Management Division by calling (202) 512-9578.

Comptroller General of the United States

Please retain this transmittal sheet; it is part of the document.

TITLE 7 INTRODUCTION

FISCAL GUIDANCE

The guidance in this title is related to the development, installation, and operation of an agency's fiscal processes in its financial management system. It is intended to apply within the framework of the federal accounting principles and standards. However, this title does not provide specific guidance on fiscal transactions involving claims by and against the United States; travel and transportation; or pay, leave, and allowances. Guidance for these matters is contained in Titles 4, 5, and 6^ respectively.

Users of this title will find that they are frequently referred to guidance such as that published by the Department of the Treasury and the Office of Management and Budget for related or more detailed information on certain subjects. In addition, for more detailed or comprehensive discussions of applicable laws and legal interpretations, users will often be referred to GAO's Principles of Federal Appropriations Law.

Terms referenced to the Glossary in this title may be found in GAO's A Glossary of Terms Used in the Federal Budget Process. The Glossary is issued and maintained by the Comptroller General under 31 U.S.C. 1112. This law directs the Comptroller General to establish, maintain, and publish standard terms and classifications for federal fiscal, budgetary, and program information. This authority includes, but is not limited to, data and information pertaining to federal fiscal policy, revenues, receipts, expenditures, functions, programs, projects, and activities. Such standardization of terms, definitions, classifications, and codes assists data users throughout the government and the private sector.

Agency heads may request a decision from the Comptroller General concerning application or interpretation of any statute or guidance set forth in Title 7. Prior to requesting such decisions, agencies should determine whether their questions have been answered in previous decisions issued by the Comptroller General. For automated indices to published Comptroller General decisions, refer to GAO Documents Data Base or JURIS, or consult Published GAO Decisions, updated quarterly.

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TITLE 7

FISCAL GUIDANCE

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TITLE 7

TABLE OF CONTENTS

Chapter Section 1.1 1.2 2.1

2.2 2.3

2.4

Page

INTRODUCTION

7.i

AUTHORITY AND RESPONSIBILITIES

7.1-1

Definitions

7.1-1

General Authorizations and Requirements A. Authority of the Comptroller General B. Agency Responsibilities

APPROPRIATION, RECEIPT, AND FUND ACCOUNTS

7.1-1 7.1-1 7.1-2

7.2-1

Establishment of Appropriation, Receipt, and Fund Accounts

A. Central Accounts of Treasury B. Account Symbols and Titles C. Appropriation Warrants D. Budget Authority Limitations E. Regulations

7.2-1 7.2-1 7.2-1 7.2-2 7.2-2 7.2-2

Recording Appropriated Funds A. Appropriation Warrants B. Issuance of Appropriation Warrants 1. Definite appropriations 2. Indefinite appropriations 3. Resolutions for continuing appropriations 4. Special and trust funds

7.2-3 7.2-3 7.2-3 7.2-3 7.2-3 7.2-3 7.2-4

Reporting on Appropriation, Receipt, and Fund Accounts

A. Responsibilities for Reporting Charges and Credits 1. Responsibilities of Treasury 2. Responsibilities of agencies a. Requirements in law b. Related requirements

B. Limitation Control Requirements C. Impoundment and Budgetary Reserves

7.2-4 7.2-4 7.2-4 7.2-4 7.2-4 7.2-5 7.2-6 7.2-7

Transactions Among Appropriation and Fund Accounts A. Nonexpenditure Transactions B. Expenditure Transactions C. Reimbursements Between Government Agencies 1. Intragovernmental billing and collection system 2. Agency responsibilities 3. Interagency disputes

7.2-8 7.2-8 7.2-9 7.2-9 7.2-9 7.2-10 7.2-12

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