*	' U.S. Environmental Protection Agency	11-2-0300
£ JSJL \ Office of Inspector General	June 29 2011
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At a Glance
Why We Performed These
Agreed-Upon Procedures
We performed agreed-upon
procedures on the U.S.
Environmental Protection
Agency (EPA) Fiscal Year
(FY) 2011 Second Quarter
Financial Statements. We did
so to assist EPA in evaluating
whether its quarterly financial
statements were compiled
consistently with the Treasury
United States Standard General
Ledger Crosswalk, and to
identify significant fluctuations
in financial line item 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. Comparative
interim financial statements are
limited to a Balance Sheet,
Statement of Net Costs, and
Statement of Budgetary
Resources.
For further information,
contact our Office of
Congressional, Public Affairs
and Management at
(202) 566-2391.
The full report is at:
www.epa.aov/oia/reports/2011/
110629-11 -2-0300. pdf
Catalyst for Improving the Environment
Agreed-Upon Procedures on EPA's Fiscal Year 2011
Second Quarter Financial Statements
What We Found
We performed certain agreed-upon procedures on the Agency's FY 2011 Second
Quarter Financial Statements. We compared the statements with EPA's
crosswalk, recomputed them for mathematical accuracy, and compared them with
balances separately generated by us.
Below are the results of our performing the agreed-upon procedures:
The financial statements generated by the Office of Inspector General
agreed with EPA's FY 2011 Second Quarter Financial Statements for
the Consolidated Balance Sheet, Consolidated Statement of Net Cost,
Consolidated Statement of Net Cost by Goal, Consolidating Statement
of Changes in Net Position (including Earmarked Funds), Combined
Statement of Budgetary Resources, and Statement of Custodial Activity.
EPA's Treasury Symbols were in compliance with Statement of Federal
Financial Accounting Standards 27.
The on-top entry to record child agency balances agreed with the
support.
The Agency properly reversed the FY 2010 on-top adjustments in
FY 2011.
The elimination and consolidation entries appear reasonable and
complete.
No differences were found in the comparison of FY 2011 beginning
balances to FY 2010 ending balances.
The Agency identified 13 fluctuations in its analysis of significant
variances and submitted them to the Office of Management and Budget.
Our analysis identified 11 additional significant variances.
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.

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