Financial
Compliance

InSap Financial Compliance

InSap understands that DoD/Federal agencies need to adhere to certain business processes in order to comply with Federal rules and regulations as per the CFO Act. InSap has an excellent understanding of designing appropriate financial systems to be in compliance with those requirements. Major areas include: the ability to report on commitments and obligations for authorized purposes for which obligation authority is available; to prevent and detect the creation of an unauthorized obligation or disbursement; and, avoiding commitment or obligation in excess of authorized/available amounts. InSap has experience with ERP functionality for the funds control and reporting system for Federal Agencies in compliance with Common Government-wide Accounting Classification (CAGC) structure, to include:

  • Budget Authority and Fund Allocation
  • Maintenance of up-to-date records for Fund Availability
  • Provision for timely recording of Commitments, Obligations and Expenditures
  • Facilitation of Fund Analysis
  • Provision of appropriate Budgetary Accounting, and
  • A multitude of reports to facilitate fund control activities

InSap is very familiar with requirements of FFMIA compliance and has provided support to meet these requirements in several Government ERP implementation projects.

InSap has thorough understanding of Funds Management and USSGL as per DoD/Federal guidelines. Our team understands that funds control XE “Funds control” is the process of establishing limits on the amount of money that can be obligated and spent within a fund. This process establishes multiple levels of budgetary control by allotment and sub-allotment of apportioned resources for agency management use.

The USSGL XE “U.S. Standard General Ledger (USSGL)” account within the CGAC structure has two component elements:

  • USSGL XE “U.S. Standard General Ledger (USSGL)” account code XE “USSGL account code” —a 6-digit account code assigned by Treasury. (A 6-digit field has been established to accommodate future expansion of the USSGL account code by Treasury. The current account code has 4 digits. Agencies may not use the additional 2 digits for internal use.)
  • USSGL XE “U.S. Standard General Ledger (USSGL)” account extension code XE “USSGL account extension code” —a 2-character alphanumeric extension to the USSGL account code XE “USSGL account code” assigned by the agency for agency-specific reporting needs.

 

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