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V a Intragovernmental Robert Reid

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V a Intragovernmental Robert Reid Powered By Docstoc
					Intragovernmental Transactions:
What we Do and What Others Have Done Successfully U.S. Department of Agriculture
2008 Financial Management Training
Robert Reid Deputy Assistant Secretary for Accounting Policy

Office of the Fiscal Assistant Secretary
U.S. Department of the Treasury
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Agenda
• Current Process • What Treasury is Doing • Benchmark – DC Govt • In the Future

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Current Federal Process
• Agencies – Oral or written agreements
– Budget Side – Requires funds available – Acquisition Side – ad hoc basis

• IPAC
– Just a payment system – Not tied to acquisition side
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What is Treasury Doing?
• Business Rules – tells agencies what they should be doing. • Reciprocal Categories.

• IRAS – tool to help agencies identify their partners during the year.
• Audit – required of intragov data in the closing packages used to create the FR.
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Benchmark – DC Govt Process
• Required written agreement.

• Seller captures ALL of buyer’s detail.
• Preencumbrance, encumbrance, and expenditure ALL recorded with accounting codes. • HAD to enter transaction into the system. • No accruals at year-end.
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The Future
• Technology will permit increased rationalization and consolidation of agency systems.
– More than possible with a single, standardized system.

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QUESTIONS

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