Project Background

A Federal Agency providing shared services to other Federal Agencies required accounting and reporting system support and project management that included Fund Balance With Treasury (FBWT) reconciliations, process commitments, obligations and Intra-governmental Payment and Collection System Transactions   (IPAC)   financial   documents,   reconciliations,   internal   control   assessment   and improvement, and quality assurance support services.

Services & Solutions

  • Preparation of quarterly  and  annual  Consolidated  Financial  Statements  and  Federal  Agency’s Centralized Trial Balance System (FACTS) data consistent with the requirements of the CFOA and other applicable legislation and appropriate OMB, Treasury, and Government Accountability Office (GAO) regulations and guidelines in support of various DOL agencies
  • Assistance of multiple agencies in compiling financial data in the extraction, transformation, and loading processes necessary to prepare the agency FACTS I and II data
  • Compilation of the Department’s and trust fund financial statements
  • Compilation of the Department’s and the Agencies it supported quarterly and annual Consolidated Financial Statements
  • Recommendations on outstanding accounting issues and compliance requirements
  • Preparation of reconciliations and supporting documentation for general ledger systems
  • Preparation of input data for the Government-wide Financial Reporting System and annual reporting to Treasury

Outcome & Results

  • Timely and accurate reporting
  • Enhanced internal controls
  • Updated Standard Operating Procedures

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