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Accounting For Treasury Judgment Fund
1. Accounting for Treasury Judgment Fund Presented by Financial Accounting and Services Division Financial Management Service September 19, 2007
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12. Accounting Transactions Agency Accounting for Non-reimbursable payments Agency records contingent liability for pending litigation with non-federal entity in which the outcome for loss is probable and estimable. Proprietary Entry 6790N Other Expenses Not Requiring Budgetary Resources 2920N Contingent Liabilities
13. Accounting Transactions (cont.) A claim is settled or a court judgment is assessed against a Federal entity, and the Judgment Fund is determined to be the appropriate source of payment. The Agency submits the proper forms to the Treasury Judgment Fund. Proprietary Entry 2920N Contingent Liabilities 6790N Other Expenses Not Requiring Budgetary Resources 6730F( 20 ) Imputed Costs 5780F( 20 ) Imputed Financing Sources
14. Accounting Transactions (cont.) Agency Accounting for Reimbursable payments (CDA & No FEAR) Agency records contingent liability for pending litigation with non-federal entity in which the outcome for loss is probable and estimable. Proprietary Entry 6800N Future Funded Expenses 2920N Contingent Liabilities
15. Accounting Transactions (cont.) A CDA or No FEAR claim is settled or a court judgment is assessed against a Federal entity, and the Judgment Fund is determined to be the appropriate source of payment. The Agency submits the proper forms to the Treasury Judgment Fund. Proprietary Entry 2920N Contingent Liabilities 6800N Future Funded Expenses 6100F( 20 ) Operating Expenses/Program Costs 2110F( 20 ) Accounts Payable 3107 Unexpended Appropriations – Used 5700 Expended Appropriations
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