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U.S . Department of the Treasury Intra-governmental Transactions (IGT) Initiative

U.S . Department of the Treasury Intra-governmental Transactions (IGT) Initiative. Presentation to the Council of the Inspector General on Integrity and Efficiency (CIGIE) April 23, 2013. Agenda. IGT Transformation Plan FY13 Updates Policy Process Accountability Next Steps.

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U.S . Department of the Treasury Intra-governmental Transactions (IGT) Initiative

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  1. U.S. Department of the TreasuryIntra-governmental Transactions (IGT) Initiative Presentation to the Council of the Inspector General on Integrity and Efficiency (CIGIE) April 23, 2013

  2. Agenda • IGT Transformation Plan • FY13 Updates • Policy • Process • Accountability • Next Steps

  3. Intra-governmental Transaction (IGT) Transformation Plan • Treasury has taken the lead in developing a plan to mitigate and eliminate the IGT material weakness finding. Key efforts include: • Update IGT Policy Guidance: Treasury updated and consolidated IGT guidance in the Treasury Financial Manual (TFM) Chapter 4700, Appendix 7 (Reciprocal Categories) and Appendix 10 (IGT Guide) effective for FY 2013 reporting. • Implement Reconciliation Processes: Treasury implemented a quarterly scorecard process for the identification, documentation and resolution of IGT differences, as well as an ongoing dispute resolution processes to remediate long-standing issues. • Strengthen Accountability: Work with OMB and GAO to increase audit scrutiny over IGT processes and balances via agreed-upon procedures and Management's internal control program (e.g., A-123).

  4. IGT PolicyWhat changed? What is the impact? Treasury solicited, and revised the TFM based upon, inputs from GAO, OMB, Federal program agencies, and the audit community (e.g., FSAN). Treasury revised the TFM to address long-standing IGT issues and a lack of comprehensive IGT reconciliation process.

  5. IGT ProcessWhat changed? What is the impact?

  6. IGT ProcessIGT Scorecard Process Overview Issue Scorecard to Agency Agency document cause of difference and provide supporting documentation Proactive communications with Federal Program Agencies Improved data quality/ reconciliations in the FR Agency initiates Dispute Resolution when unable to reconcile with Trading Partner Treasury log differences and supporting documentation for proper elimination of IGT activity

  7. IGT AccountabilityWhat's changing? What is the impact? Treasury is working with the audit community to define appropriate, risk-based approaches to enforce agency compliance with IGT policies and procedures.

  8. IGT AccountabilityNotional A-123 and AUP Updates Notional IGT Risks, Internal Controls, and Tests Draft Agreed-Upon Procedures DRAFT

  9. Summary and Next Steps • IGT Policy • Continue to coordinate with OMB on Transfers guidance and the Transfers Logic Model. • Monitor agency compliance with the revised policy and identify areas of improvement. • IGT Process • Compile and distribute scorecards for 35 verifying Federal Program Agencies starting in Q1 FY 13. • Continue to monitor agency recurring differences and initiate dispute resolution. • IGT Accountability • Continue to coordinate with OMB and the audit community to develop policy updates for OMB Bulletin 07-04 and OMB Circular A-123, Appendix A.

  10. Points of Contact Laurie Park Senior Leader Financial Innovation and Transformation (FIT) Department of the Treasury (202) 622-8339 Leroy Larkins IGTP Program Manager Bureau of Fiscal Service Department of the Treasury (202) 874-9792

  11. Appendix

  12. IGT MetricsSample Scorecard (page 1)

  13. IGT MetricsSample Scorecard (page 2)

  14. Dispute Resolution Process

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