FEDERAL TRUST FUND GENERAL LEDGER ENTRIES - 17135

(Revised: 06/2024)

 

Purpose: To record receivables, remittances, appropriated expenditures, operating transfers out, and payables for federal funds.

References: See SAM Chapters 10500 and 10600 for standard entries.

Record Receivables of Federal Funds

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	1260000	1510	Due from Federal Government	a
Credit	4400000	Not used	Federal Government Receipts	b
Credit	Not used	8020	Federal Grants and Contracts	c

 

Note:

  a.  Receivables due from the federal government.

  b.  Receipts due from the federal government.

  c.  Receivables billed to the federal government for agencies/departments deferred/exempt from FI$Cal.

 

Record General Cash Received from Federal Government

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	1101000	1110	General Cash	a
Credit	1260000	1510	Due from Federal Government	b
Credit	4400000	Not used	Federal Government Receipts	c
Credit	Not used	8020	Federal Grants and Contracts	d

 

Note:

  a.  Cash received from the federal government for deposit in the General Cash account.

  b.    Cash receipts applicable to billed receivables due from the federal government.

  c.     Cash receipts received from the federal government not billed or accrued previously.

  d.    Cash receipts received from the federal government not billed or accrued previously for

agencies/departments deferred/exempt from FI$Cal.

 

Record Remittance of Federal Funds to the State Treasury for Agencies/Departments Deferred/Exempt from FI$Cal

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	Not used	1150	Cash in Transit to State Treasury	a
Credit	1101000	1110	General Cash	b

 

Note:

  a.    Cash in transit for deposit in the State Treasury.

  b.    Cash remitted for deposit in the State Treasury.

 

Record Remitted Federal Funds to the State Treasury for Agencies/Departments Deferred/Exempt from FI$Cal

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	1104000	1140	Cash in State Treasury	a
Credit	Not used	1150	Cash in Transit to State Treasury	b

 

Note:

  a.    Cash remitted for deposit in the State Treasury.

  b.    Cash in transit for deposit in the State Treasury.

 

Record Appropriated Expenditures from Federal Trust Fund

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	5xxxxxx	9000	Appropriation Expenditures	a
Credit	1104000	1140	Cash in State Treasury	b

 

Note:

  a.    Paid expenditures against appropriations currently available.

  b.    Cash disbursed from the Federal Trust Fund in the State Treasury.

 

Record Disbursement of Money from the Federal Trust Fund when the Appropriation is for Transfer to Another Fund

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	62xxxxx	9812	Operating Transfers Out	a
Credit	1104000	1140	Cash in State Treasury	b

 

Note:

  a.    Transfers out to another fund against appropriations currently available.

  b.    Cash disbursed from the Federal Trust Fund to another fund in the State Treasury.

 

Record a Payable when Federal Funds are Appropriated and Expended from the Federal Trust Fund

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	5xxxxxx	9000	Appropriation Expenditures	a
Credit	2000xxx	3010	Accounts Payable	b
Credit	201xxxx	31xx	Due to Other Funds or Appropriations	c
Credit	202xxxx	32xx	Due to Other Governments	d

 

Note:

  a.    Outstanding valid obligations to be paid.

  b.    Obligations due to private entities.

  c.     Obligations due to other funds or appropriations.

  d.    Obligations due to other governmental entities.

 

Record a Payable when the Authorized or Appropriated Expenditure of Federal Funds Occurs in Another Fund

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	62xxxxx	9812	Operating Transfers Out	a
Credit	201xxxx	31xx	Due to Other Funds or Appropriations	b

 

Note:

  a.    Outstanding valid obligations to be transferred out.

  b.    Obligations due to other funds or appropriations.