Financial Policy Documents Changelog

Chapter 02C - Clearing (Suspense) and Deposit Funds

Volume II Chapter 02C – February 2023 Revisions

  • Section 020505 – Added language for Anti-Deficiency Act to provide guidance to prevent ADA violations.
  • Section 0206 – Add FAR §22.1022, Withholding of contract payments, ADA reference 31 U.S.C. §1341, Limitations on expending and obligating amounts to the Authorities and References section to update the policy for inclusion of ADA and FAR references for deposit fund.
  • Appendix B – Add fund 6505 to the Deposit funds list for closing clearing (suspense) and deposit funds.
Chapter 02C - Clearing (Suspense) and Deposit Funds

Volume II Chapter 02C – May 2022 Revisions

  • Various Sections – Added guidance for closing clearing (suspense) and deposit funds for closing clearing (suspense) and deposit funds.
  • Section 0203 Definitions – Added definition for non-appropriated fund to reference clearing (suspense) and deposit funds as non-appropriated funds.
  • Section 0204 Roles and Responsibilities – Added OFR’s roles and responsibilities for closing clearing (suspense) and deposit funds to add OFR’s R&R to policy.
  • Section 020501 General Policies – Clearing (Suspense) Accounts – Added policy statements indicating that OFR will close clearing (suspense) and deposit funds to provide guidance for closing clearing (suspense) and deposit funds.
  • Section 0206 Authorities and Refences – Added 31 USC § 3513: Financial reporting and accounting system to add legal authority that supports policy guidance.
Chapter 02C - Clearing (Suspense) and Deposit Funds

Volume II Chapter 02C – January 2022 Revisions

  • Various Sections – Removed hyperlinks from policy sections, minor rewording for clarity to align with current policy format.
  • Section 020506 Reconciliation of Clearing (Suspense) and Deposit funds – Added reconciliation section for clearing (suspense) and deposit funds to ensure completeness of the monitoring and review process.
  • Section 0206 Authorities and References – Added statutes; 38 U.S.C. §8504, Disposition of Other Unclaimed Property; 41 U.S.C. §6705, Violations to support clearing (suspense) and deposit funds policy statements.
  • Appendix A: Clearing (Suspense) Accounts List – Moved listing of Clearing (Suspense) Accounts from section 020502 to new Appendix A. Renamed section 020502.
  • Appendix B: Deposit Funds List – Moved listing of Deposit Funds from previous section 020507 to new Appendix B.
Chapter 02C - Clearing (Suspense) and Deposit Funds

Volume II Chapter 02C – January 2018 Revisions

  • Various Sections – updates made as part of the 5-year review:
    • Added the key points covered in this policy chapter and moved detailed guidance to the Policies section
    • Reformatted to new policy format
  • Overall – Clarified policy to match Treasury’s and OMB’s requirements and guidance.
  • Section 0201 Overview – updates made as part of the 5-year review:
    • Added the key points covered in this policy chapter
    • Moved detailed guidance to the Policies section
  • Section 0204 Roles and Responsibilities – updates made to add new role for FSC
    • Added Admin CFOs and Staff Office CFOs
    • FSC’s roles in the monthly monitoring and annual certification of clearing (suspense) accounts
  • Section 0205 Policies – updates made as part of the 5-year review:
    • Updated Treasury’s requirement on suspense accounts for annual recertification of accounts’ balances instead of waiver
    • Clarified outlays and payments cannot be made from clearing (suspense) accounts
    • Emphasized clearing balances in clearing (suspense) accounts within 30 days and no longer than 60 days
    • Removed the Statement of Difference based on current Central Accounting Reporting System (CARS)
    • Updated the guidance for monthly reconciliation, classification, reporting, and disposition of clearing (suspense) and deposit funds.