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OFFICE OF INSPECTOR GENERAL
Catalyst for Improving the Environment
Quick Reaction Report
Agreed-Upon Procedures on
EPA's Fiscal Year 2008
First Quarter Financial Statements
Report No. 08-2-0142
April 28, 2008

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Report Contributors:	Paul Curtis
Meg Bastin
Denise Patten
Demetrios Papakonstantinou
Javier Negron
Abbreviations
EPA
U.S. Environmental Protection Agency
FY
Fiscal Year
GL
General Ledger
IFMS
Integrated Financial Management System
OIG
Office of Inspector General
OMB
Office of Management and Budget
RGLTS
Report of General Ledger Balance by Treasury Symbol
SFFAS
Statement of Federal Financial Accounting Standards
USSGL
United States Standard General Ledger
YACT
Year End Account Table

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U.S. Environmental Protection Agency	08-2-0142
•	u.o. ciiviiuMMiciiidi riuieui
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At a Glance
April 28, 2008
Catalyst for Improving the Environment
Why We Performed These
Agreed-Upon Procedures
We performed agreed-upon
procedures on the U.S.
Environmental Protection
Agency (EPA) Fiscal Year
(FY) 2008 first quarter
Financial Statements. We did
so to assist EPA in evaluating
whether its quarterly Financial
Statements were compiled
consistent with the Treasury
Standard General Ledger
Crosswalk, and to identify
significant fluctuations in
financial line balances from
the previous year.
Background
Agencies submit unaudited
interim Financial Statements
to the Office of Management
and Budget 21 days after the
end of each of the first three
quarters of the fiscal year.
Agencies should include
management's explanation of
significant variances in types
of assets, liabilities, costs,
revenues, obligations, and
outlays, along with the
submitted statements.
Agreed-Upon Procedures on EPA's Fiscal Year 2008
First Quarter Financial Statements
What We Found
Below are the results of our performing the agreed-upon procedures:
•	The Financial Statements generated by the Office of Inspector General (OIG)
agreed with EPA's FY 2008 first quarter Financial Statements for the
Consolidated Balance Sheet, Consolidated Statements of Net Cost and
Changes in Net Position, Combined Statement of Budgetary Resources and
Statement of Custodial Activity, Statement of Changes in Net Position for
Earmarked Funds, and Consolidated Statement of Net Cost by Goal.
•	We found differences between the ending balances for the FY 2008
ProSystem prepared adjusted trial balance and EPA's prepared trial balance.
The differences stemmed from an adjustment done by the Department of
Health and Human Services at the end of FY 2007 that was either not sent to
or received by the Agency.
•	EPA's Financial Statement Preparation Guide for the FY 2008 Financial
Statements complies with Office of Management and Budget Circular A-136
in its entirety. We identified three items that should be updated.
•	We identified two differences between EPA's Financial Statement Crosswalk
and the Treasury United States Standard General Ledger Crosswalk guidance.
There is no financial impact from these differences.
•	EPA's FY 2007 post-closing instructions do not agree with EPA's Year End
Closing Table and Treasury's Closing Instructions.
•	The reversal process did not follow the Agency's Financial Statement
Preparation Guide for the FY 2008 first quarter Financial Statements.
The agreed-upon procedures do not constitute an audit of the quarterly Financial
Statements or any part thereof, the objective of which would be the expression of
an opinion on the quarterly Financial Statements or any part thereof.
For further information,
contact our Office of
Congressional and Public
Liaison at (202) 566-2391.
To view the full report,
click on the following link:
www.epa.aov/oia/reports/2008/
20080428-08-2-0142.pdf

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< jyi
# rr-m "o	UNITED STATES ENVIRONMENTAL PROTECTION AGENCY
0	|	WASHINGTON, D.C. 20460
PRO"^
OFFICE OF
INSPECTOR GENERAL
April 28, 2008
MEMORANDUM
SUBJECT: Agreed-Upon Procedures on EPA's Fiscal Year 2008
First Quarter Financial Statements
Report No. 08-2-0142
FROM: Paul C. Curtis
Director, Financial Statement Audits
TO:	Lyons Gray
Chief Financial Officer
This Agreed-Upon Procedures Report on the U.S. Environmental Protection Agency's (EPA's)
Fiscal Year 2008 First Quarter Financial Statements was conducted by the EPA Office of
Inspector General at your request. This report is provided to you solely to assist you in
evaluating whether the Fiscal Year 2008 first quarter Financial Statements were compiled
consistent with the Treasury United States Standard General Ledger Crosswalk, and to identify
significant fluctuations in financial line balances from the previous year.
Our report is intended solely for your information and use and should not be used by those who
have not agreed to the procedures or taken responsibility for the sufficiency of the procedures for
their purposes. No written response to this report is required.
If you have any questions, please do not hesitate to contact me at 202-566-2523 or
curtis.paul@epa.gov. or Meg Bastin at 513-487-2366 or bastin.margaret@epa.gov.

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Agreed-Upon Procedures on EPA's Fiscal Year 2008
First Quarter Financial Statements
Table of C
Purpose		1
Background		1
Scope and Methodology		1
Results of Agreed-Upon Procedures		2
Status of Recommendations and Potential Monetary Benefits		8
Appendices
A Significant Fluctuations between 12/31/07 and 12/31/06	 9
B FY 2007 On-Top Entries Not Reversed in 2008
in Accordance with EPA Policy	 11
C Distribution	 16

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Purpose
We performed these agreed-upon procedures at the request of the Office of the Chief Financial
Officer. We did so to assist the U.S. Environmental Protection Agency (EPA) in evaluating
whether its Fiscal Year (FY) 2008 first quarter Financial Statements were compiled consistent
with the Treasury United States Standard General Ledger (USSGL) Crosswalk, and to identify
significant fluctuations in financial line balances from the previous year.
Background
According to Office of Management and Budget (OMB) Circular A-13 6, interim unaudited
Financial Statements, without notes, are required on a quarterly basis. Agencies submit
unaudited interim Financial Statements to OMB 21 days after the end of each of the first three
quarters of the fiscal year. Agencies should include management's explanation of significant
variances in types or amounts of assets, liabilities, costs, revenues, obligations, and outlays,
along with the submitted statements.
Scope and Methodology
We performed certain agreed-upon procedures, enumerated below, on EPA's unaudited
consolidated FY 2008 first quarter Financial Statements, to assist the Office of the Chief
Financial Officer in evaluating whether the quarterly Financial Statements were compiled
consistent with Treasury's USSGL Crosswalk and to identify significant fluctuations in financial
line balances from the previous year.
The adequacy of these procedures is the Office of the Chief Financial Officer's responsibility.
Consequently, we make no representation regarding the sufficiency of the procedures. The
agreed-upon procedures do not constitute an audit of the quarterly Financial Statements or any
part thereof, the objective of which would be the expression of an opinion on the quarterly
Financial Statements or any part thereof. Accordingly, we do not express such an opinion. Were
we to perform additional procedures, other matters might come to our attention that we would
report to assist the Office of the Chief Financial Officer.
This agreed-upon procedures engagement was conducted using applicable generally accepted
government auditing standards, which incorporate attestation standards issued by the American
Institute of Certified Public Accountants. These standards provide guidance for performing and
reporting the results of agreed-upon procedures.
We performed the agreed-upon procedures from February 14 to March 6, 2008. We based our
procedures on EPA's first quarter Financial Statements and supporting schedules, general ledger
balances, and manual on-top adjustments.
1

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Results of Agreed-Upon Procedures
Procedure 1:
Obtain EPA's quarterly Financial Statements, adjusted trial balance, on-top entries, and support
for the statements (including Earmarked Funds). Import the Report of General Ledger Balance
by Treasury Symbol (RGLTS) and enter the Agency's on-top entries into ProSystem and
generate an adjusted trial balance, Consolidated Balance Sheet, and Consolidated Statements of
Net Cost and Changes in Net Position.
Results of Procedure 1
We obtained EPA's first quarter Financial Statements, adjusted trial balance, on-top
entries, and support for the statements (including Earmarked Funds). We imported the
RGLTS and entered the Agency's on-tops and adjustments to beginning balances into
ProSystem to generate an adjusted trail balance, Consolidated Balance Sheet, and
Consolidated Statements of Net Cost and Changes in Net Position. We compared the
Agency's prepared statements to ProSystem generated adjusted trial balance,
Consolidated Balance Sheet, and Consolidated Statements of Net Cost and Changes in
Net Position, and our prepared Combined Statement of Budgetary Resources and
Statement of Custodial Activity. Below are further specifics on the procedures
performed and the results of each procedure.
Procedure 1.a
Compare the ProSystem adjusted trial balance to the Agency's adjusted trial balance and note
any differences.
Results of Procedure 1.a
We compared the Agency's prepared adjusted trial balance to the ProSystem generated
adjusted trial balance. We found differences between the FY 2008 ProSystem prepared
and the Agency prepared adjusted trial balance. General Ledger (GL) account 3310 was
overstated and account 61FE understated by 226,243.41. GL 3310 has a difference of
$226,243.41 and account 61FE a difference of ($226,243.41). The Agency stated "the
adjustment was necessary due to an adjustment done by the Department of Health and
Human Services at the end of FY 2007, that we did not receive or was sent but missed.
Once the support is received, the adjustment will be moved to general ledger account
522P." The Agency also stated there will be a reclassification budgetary entry for the
second quarter (GL accounts 4801/4802 for $1,530,675.85).
2

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Procedure 1.b
Compare the ProSystem generated Financial Statements to EPA's Financial Statements and note
any differences.
Results of Procedure 1.b
We compared the ProSystem generated Financial Statements to EPA's Financial
Statements (Consolidated Balance Sheet and Consolidated Statements of Net Cost and
Net Position) and found no differences.
Procedure 1.c
Enter the FY 2008 and 2007 balances and on-top entries into Excel spreadsheets. Prepare the
Combined Statement of Budgetary Resources and Statement of Custodial Activity and compare
to the Agency's statements and note any differences.
Results of Procedure 1.c
We entered the FY 2008 and 2007 balances and on-top entries into Excel spreadsheets,
and prepared and compared the Combined Statement of Budgetary Resources and
Statement of Custodial Activity to the Agency's statements. The balances agreed.
Procedure 1.d
Extract general ledger ending balances from the RGLTS for Earmarked Funds using IDEA and
enter into ProSystem. Enter on-top entries and generate a Consolidated Statement of Changes in
Net Position for Earmarked Funds and compare to EPA's Consolidated Statement of Changes in
Net Position for Earmarked Funds.
Results of Procedure 1.d
We extracted general ledger ending balances from the RGLTS for Earmarked Funds,
generated a Consolidated Statement of Changes in Net Position for Earmarked Funds,
and compared it to EPA's Statement of Changes in Net Position for Earmarked Funds.
The balances agreed.
Procedure 1.e
Compare the Consolidated Statement of Net Cost by Goal and compare to the Consolidated
Statement of Net Cost and note any differences.
Results of Procedure 1.e
We compared the Consolidated Statement of Net Cost by Goal to the Consolidated
Statement of Net Cost. The totals of both statements agreed.
3

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Procedure 1.f
Mathematically verify the Consolidated All Other column in the Agency's Financial Statement.
Results of Procedure 1.1
We mathematically verified the Consolidated All Other column in the Agency's Financial
Statements.
Procedure 1.g
Identify significant fluctuations in balances by comparing current year balances to prior year
balances. (Criteria - Percentage change of 10 percent or more and dollar change exceeding
$50 million.)
Results of Procedure 1.g
We identified significant fluctuations in the Consolidated Balance Sheet, Consolidated
Statement of Net Cost, Consolidated Statement of Changes in Net Position, and
Combined Statement of Budgetary Resources. See Appendix A for details on
fluctuations. In addition, we verified that the OIG variances agreed with Agency-
identified fluctuations submitted to OMB.
Procedure 2
Obtain and compare EPA's Financial Statement Preparation Guide for the FY 2008 Financial
Statements to OMB Circular A-136 for compliance and note any differences.
Results of Procedure 2
We obtained and compared EPA's Financial Statement Preparation Guide for the
FY 2008 Financial Statements to OMB Circular A-136 for compliance. We found that
the guide complies with OMB Circular A-136 in its entirety. However, we identified
three items that should be updated in the guide.
Table 1: Comparison of EPA's FY 2008 Financial Statement Preparation Guide to OMB Circular A-136
Section
EPA Financial Statement Preparation
Guide Instructions
OIG Comments to Update
1st Paragraph
See attachment J for instructions on
downloading the file.
Attachment J is not the instructions on
downloading the file. Instructions are in
Attachment I.
2nd Paragraph
The adjustments are prepared by the
Office of Financial Management,
Research and Analysis Staff.
Should be Reporting and Analysis Staff.
8.b
Repeat steps 7.a.i. through 7.a.iv.
Steps to repeat are 8.a.i through 8.a.iv.
Source: OIG analysis of EPA data and OMB requirements.
4

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Procedure 3
Obtain and compare EPA's Financial Statement Crosswalk to Treasury's USSGL Crosswalk and
note any differences.
Results of Procedure 3
We obtained and compared EPA's Financial Statement Crosswalk to Treasury's USSGL
Crosswalk and found that they did not agree.
Statement of Budgetary Resources, Section 8A: The Agency uses the difference
between the beginning balance and ending balance in GL account 4211 to identify direct
obligations incurred. According to Treasury, the amount that should be used is the
ending balance of GL account 4201 (GL account 4211 closes to 4201). The ending
balance for GL account 4211 has been zero for the past several years; accordingly, there
is no current impact.
Procedure 4
Obtain and compare EPA's FY 2007 post-closing instructions to EPA's Year End Account Table
(YACT) and Treasury's Closing Instructions and note any differences.
Results of Procedure 4
We obtained and compared EPA's FY 2007 post-closing instructions to EPA's YACT
table and Treasury's Closing Instructions. We found:
•	EPA's Year End Closing Instructions are not consistent with the EPA YACT table for
accounts 4382, 4383, and 4384 (column 1 in Table 2 below).
•	There are discrepancies between the EPA Closing Instructions and Treasury guidance
for accounts 4123, 4124, 4168, 4382, 4383, and 4384 (column 2 in Table 2 below).
•	There are discrepancies between the EPA YACT table and Treasury instructions for
accounts 4123, 4124, 4168, 4382, 4383, and 4384 (column 3 in Table 2 below).
Table 2: Comparison of EPA's FY 2007 Post-Closing Instructions to EPA's YACT Table and
Treasury's Closing Instructions

Per EPA's 2007 Post Closing
Per EPA's YACT Table
Per Treasury

Instructions EPA's GL
EPA's GL Account
EPA's GL Account
EPA GL
Account Should Close to:
Should Close to:
Should Close to:
Account
(1)
(2)
(3)
4123
4201
4201
4357, 4382, 4386
4124
4201
4201
4384
4168
4168
4168
4382, 4383, 4384
4382
4384
4168
4384, 4168, 4123
4383
4384
4168
4384, 4168, 4123
4384
4384
4201
Remains Open
Source: OIG analysis of EPA data and Treasury requirements.
5

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Procedure 5
Obtain and compare EPA's identified Earmark Treasury Symbols to Federal Accounting
Advisory Board Statement of Federal Financial Accounting Standards (SFFAS) 27 for
compliance.
Results of Procedure 5
We obtained and compared EPA's identified Earmark Treasury Symbols to SFFAS 27
for compliance. We found EPA's treasury symbols to be in compliance with SFFAS 27.
Procedure 6
Obtain and compare FY 2008 and 2007 Child Trial Balances to the Child on-top entry.
Results of Procedure 6
We obtained and compared EPA's FY 2008 and 2007 Child Trial Balances to the Child
on-top entry. We found that the FY 2008 first quarter child trial balance support agrees
with the FY 2008 first quarter child on-top entry. We could not compare the FY 2007
first quarter child balances because child balances were not reported until the second
quarter in FY 2007.
Procedure 7
Compare the FY 2008 reversal to the FY 2007 on-top adjustments and EPA's Closing
Instructions to assess if EPA followed their guidance.
Results of Procedure 7
We compared the FY 2008 reversal to the FY 2007 on-top adjustments and to EPA's
closing instructions to assess if EPA followed its guidance. EPA did not follow its
closing instructions in reversing FY 2007 on-top adjustments. We found that 89 of the
130 on-top adjustments recorded in FY 2007 were reversed appropriately in FY 2008.
However, 41 of the FY 2007 on-top adjustments were not reversed according to the
closing instructions based on type description. We did not make an independent
evaluation of the on-top adjustments. We relied upon the Agency's designation that
identified the 41 FY 2007 on-top adjustments as type A, B, or D. Of the 41 FY 2007
on-top adjustments that were not reversed, the Agency identified:
•	Thirty six as Type A.
•	One as Type B.
•	Four as Type D.
The Agency's Financial Statement Preparation Guide states: "Reverse all Type A
(corrections) and B (nominal statement adjustments) entries." It also states: "Reverse
6

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Type D (statement adjustments only) entries except for revenue/expense eliminations
(e.g., 522F/61FN) and reclassification of expense entries that will not be posted in IFMS
[Integrated Financial Management System] (e.g., reclassification of benefit expenses to
6400 accounts)." See Appendix B for a list of entries that were not reversed.
Procedure 8
Compare the RGLTS FY 2008 beginning balances to the FY 2007 ending balances and note any
differences.
Results of Procedure 8
We compared the RGLTS FY 2008 beginning balances to FY 2007 ending balances and
found no differences.
Procedure 9
Examine elimination and consolidation entries prepared by the Reporting and Analysis Staff for
reasonableness and completeness.
Results of Procedure 9
We examined the elimination and consolidation entries prepared by the Reporting and
Analysis Staff and found that the FY 2008 on-top adjustments relating to elimination and
consolidation entries were reasonable and complete.
7

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Status of Recommendations and
Potential Monetary Benefits
RECOMMENDATIONS
POTENTIAL MONETARY
BENEFITS (In $000s)
Rec.
No.
Page
No.
Subject
Status1
Action Official
Planned
Completion
Date
No recommendations
Claimed
Amount
Agreed To
Amount
1 0 = recommendation is open with agreed-to corrective actions pending
C = recommendation is closed with all agreed-to actions completed
U = recommendation is undecided with resolution efforts in progress
8

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Appendix A
Significant Fluctuations between 12/31/07 and 12/31/06
(Dollars in Thousands)
Consolidated Balance Sheet:
ASSETS





FY 2008
FY 2007

Difference
%
Fund Balance With Treasury



$10,346,612
$11,696,868

($1,350,256)
-11.54%
Accounts Receivable, Net



$349,553
$228,794

$120,759
52.78%











LIABILITIES









Accounts Payable & Accrued Liabilities


$865,171
$719,041

$146,130
20.32%











NET POSITION









Unexpended Appropriations - Other Funds


$9,294,914
$10,877,967

($1,583 053)
-14.55%
Cumulative Results of Operations - Earmarked Funds

$5,994,947
$4,438,621

$1,556,326
35 06%
Cumulative Results of Operations - Other Funds

$570,375
$1,665 005

($1,094,630)
-65.74%
Source: FY 2008 Financial Statements provided by EPA
Consolidated Statement of Net Cost:
COSTS
FY 2008
FY 2007

Difference
%
Earned Revenue
$113,829
$172,094

($58,265)
-33.86%
Source: FY 2008 Financial Statements provided by EPA
Consolidated Statement of Changes in Net Position:





FY 2008
FY 2007








Consolidated
Consolidated








Total
Total

Difference
%
CUMULATIVE RESULTS OF OPERATIONS:




Budgetary Financin
g Sources:






Appropriations Used



$1,980,710
$2,222,972

($242,262)
-10.90%
I








Other Financing Sources (Noil
-Exchange)





Net Change



$116,522
$229,259

($112,737)
49.17%










BUDGETARY FINANCING SOURCES:






Appropriations Received


$1,925,033
$2,801,299

($876,266)
-31.28%
Appropriations Used



($1.980710)
($2,222,972^
$242,262
-10.90%
Source: FY 2008 Financial Statements provided by EPA
9

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Consolidated Statement of Changes in Net Position - All Other Funds:





FY 2008
FY 2007








Consolidated
Consolidated








All Other Funds
All Other Funds

Difference
%
CUMULATIVE RESULTS OF OPERATIONS:




Appropriations Used


$1,980,710
$2,222,972

($242,262)
-10.90%
Trust Fund Appropriations


(3316,353)
($461,360)

$145 007
-31.43%










BUDGETARY FINANCING SOURCES:






Appropriations Received


$1,925,033
$2,801,299

($876,266)
-31.28%
Appropriations Used


($1,980,710)
($2,222,972)
	
$242,262
-10 90%
Source: FY 2008 Financial Statements provided by EPA
Consolidated Statement of Changes in Net Position - Earmarked Funds:





FY 2008
Consolidated
Earmarked Funds
FY 2007
Consolidated
Earmarked Funds
-
Difference
%










CUMULATIVE RESULTS OF OPERATIONS:



Trust Fund Appropriations


$316,353
$461,360

($145,007)
-31.43%








Other Financing Sources (Non-Exchange)





Net Change
$108,720
$261,292

($152,572) -58.39%
Source: FY 2008 Financial Statements provided by EPA
Combined Statement of Budgetary Resources:
BUDGETARY RESOURCES:



FY 2008
FY 2007

Difference
% |
Appropriation



$1,956,504
$2,825,465
($868,961)
-30.75%
Collected




$90,379
$143,591

($53,212)
-37.06%
Without Advance from Federal Sources


$69,594
($25,045)
$94,639
r 377.88%
Nonexpenditure Transfers. Net. Anticipated and Actual

$324,610
$487,469

($162 859:
-33.41%







STATUS OF BUDGETARY RESOURCES:






45.78%
Apportioned


$4,062,758
$2,786,833

$1,275,925
Unobligated Balances Not Available


$1,022 090
$3 111 632

($2,089,542)
-67.15%









CHANGE IN OBLIGATED BALANCE







Brought Forward October 1


($632,790)
($712,239)

$79,449
-11 15%
Change in Uncollected Customer Payments from Federal Sources
($77,936)
$12,246

($90,182)
-736.4.2%










NET OUTLAYS








Less: Offsetting Collections



($95,639)
($152,262)
$56,623
-37.19%
Less. Distributed Offsetting Receipts


($318,923)
($460,144)
$141,221
-30.69%
Source: FY 2008 Financial Statements provided by EPA
10

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Appendix B
FY 2007 On-Top Entries Not Reversed in 2008
in Accordance with EPA Policy
No.
ENTRY
NO
TYPE
FUND
EXPLANATION
1
57
A. Correction
103
To reverse IFMS closing error from
FY 2005.
2
58
A. Correction
107
To reverse correction of IFMS FY 2005
closing error.
3
59
A. Correction
108
To reverse correction of IFMS FY 2005
closing error.
4
60
A. Correction
5374
To reverse correction of IFMS FY2005
closing error.
5
61
A. Correction
8145
To reverse correction of IFMS FY 2005
closing error.
6
62
A. Correction
4322
To reverse correction of IFMS FY 2005
closing error.
7
63
A. Correction
4310
To reclassify closing accounts which net
to zero.
8
64
B. Normal Statement Adj.
8221
To reclassify closing accounts which net
to zero.
9
65
D. Statement only adj.
8153
To reclassify balances in 33CD to 3310.
To correct error from FY 2005 in
10 66 D. Statement only adj.
8153 20X8153.3.
11 67 A. Correction
8145
To reverse balance for IFMS closing
error, incorrect posting to 2980 instead of
3310.
12 68 A. Correction
108
To clear remaining anticipated balances
for FY 2007 4th Quarter FACTS II
reporting.
11

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A. Correction	8145
A. Correction	4311
A. Correction	107
A. Correction	8221
A. Correction	5555
A. Correction	108
A. Correction	5555
A. Correction	5374
A. Correction	5374
A. Correction	4322
To clear remaining anticipated balances
for FY 2007 4th Quarter FACTS II
reporting.
To clear remaining anticipated balances
for FY 2007 4th Quarter FACTS II
reporting.
To clear remaining anticipated balances
for FY 2007 4th Quarter FACTS II
reporting.
To clear account 4384 in the Oil Spill
program for FY 2007 4th Quarter FACTS
II reporting.
To move funds in 682753.3 to account
that is part of "offsetting receipts" line on
Statement of Budgetary Resources and
Statement of Financing. For Statement
purposes only.
To correct differences between
budgetary and proprietary accounts for
cancelled treasury symbol 689/00108.
To close out miscellaneous receipts at
year-end. Funds are returned to
Treasury. Miscellaneous receipts are
closed as part of the IFMS Post-Closing
process (See YACT Table).
To clear remaining anticipated account.
To clear balances in anticipated account
4120. This corrects adjustment #82.
To clear the remaining anticipated
Treasury Symbol 68X4322 for 4th
Quarter FACTS II reporting.
A. Correction	112
To reclassify balances to recoveries for
accounts in cancelled Treasury Symbols.
During FY 2007, EPA deobligated MO
documents which recorded a debit in
4801/4803 and 465N or465E. These
balances should be recorded in SGL
4871 as recoveries, also other reductions
in obligations should be recoveries.
12

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To reclassify balances to recoveries for
accounts in cancelled Treasury Symbols.
During FY 2007, EPA deobligated MO
documents which recorded a debit in
4801/4803 and 465N or465E. These
balances should be recorded in SGL
4871 as recoveries, also other reductions
24 94 A. Correction	108 in obligations should be recoveries.
To reclassify balances to recoveries for
accounts in cancelled Treasury Symbols.
During FY 2007, EPA deobligated MO
documents which recorded a debit in
4801/4803 and 465N or465E. These
balances should be recorded in SGL
4871 as recoveries, also other reductions
25 95 A. Correction	107 in obligations should be recoveries.
26
96
A. Correction
OTHR
To eliminate interagency transfers in and
out between Superfund (Earmarked) and
68X0250 (Other Funds) on the
Statement of Net Position.
97
A. Correction
EARM
To eliminate interagency transfers in and
out between Superfund (Earmarked) and
68X0250 (Other Funds) on the
Statement of Net Position.
27
98
A. Correction
To eliminate interagency expenditure
transfers between Superfund
OTHR (Earmarked) and Appropriated Funds.
99
A. Correction
EARM
To eliminate interagency expenditure
transfers between Superfund
(Earmarked) and Appropriated Funds.
28
100
A. Correction
ELIM
To eliminate transfer balances between
68X5374 and 68X5374.1.
29
106
A. Correction
8145
Entry to correct FY 2006 balances
received from BPD for Superfund.
30 109 A. Correction
8145
To reclassify entries made in FY 2007 for
the reduction in allowances for CNC
receivables in FY 2006. Original entry
was to 7401 but with the FY 2006
restatement these balances will be
reclassified to Beginning Balance,
Cumulative Results (SGL 3310).
13

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31 110 A. Correction
103
To reclassify entries made in FY 2007 for
the reduction in allowances for CNC
receivables in FY 2006. Original entry
was to 7401 but with the FY 2006
restatement these balances will be
reclassified to Beginning Balance,
Cumulative Results (SGL 3310).
32 111 A. Correction
107
To reclassify entries made in FY 2007 for
the reduction in allowances for CNC
receivables in FY 2006. Original entry
was to 7401 but with the FY 2006
restatement these balances will be
reclassified to Beginning Balance,
Cumulative Results (SGL 3310).
33 112 A. Correction
108
To reclassify entries made in FY 2007 for
the reduction in allowances for CNC
receivables in FY 2006. Original entry
was to 7401 but with the FY 2006
restatement these balances will be
reclassified to Beginning Balance,
Cumulative Results (SGL 3310).
34 113 A. Correction
8145
This entry is to reclassify the fines and
penalties which were manually
calculated for FY 2006 CNC receivables.
These CNC receivables had been closed
in IFMS during FY 2007. If these fines
and penalties had been brought forward
to FY 2007 the 672E would have been
used to adjust allowance.
35 114 A. Correction
5555
To adjust FY 2007 year-end G/L
balances to agree with the final SF224
reporting (FBWT) for FY 2007.
Fourteenth month (14/2007) entry was
processed by AP99 that was not
reported on their September 2007 SF224
report.
36 115 A. Correction
5555
Adjustment to close out of miscellaneous
receipts at year-end. Funds are returned
to Treasury. Miscellaneous receipts are
closed as part of the IFMS Post Closing
process (See YACT Table). Adjustment
was made to 680895 see entry #114
37 116 A. Correction
ELIM
To eliminate revenue and expenses
between WCF and Non Earmarked
Funds.
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38	117	A. Correction	OTHR
118	A. Correction	EARM
39	148	D. Statement only adj.	8145
40	149	D. Statement only adj.	8153
41	155	A. Correction	8145
To eliminate revenue and expenses
between WCF (Other Funds) and
Earmarked Funds.
To eliminate revenue and expenses
between WCF (Other Funds) and
Earmarked Funds.
To eliminate 4384 effect on the Financial
Statements
To eliminate the effect of 4384 on the
Financial Statements
To clear anticipated balance in SGL
4165
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Appendix C
Distribution
Chief Financial Officer
Deputy Chief Financial Officer
Director, Office of Financial Management, Office of the Chief Financial Officer
Director, Office of Reporting and Analysis Staff, Office of the Chief Financial Officer
Director, Office of Financial Services, Office of the Chief Financial Officer
Deputy Inspector General
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