Insurance fund and insurance appropriation accounting reason for issue
SECTION N. SPECIAL INSURANCE REPORTS
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- 2. PREPARATION OF REPORTS-STATION LEVEL
- 3. PREPARATION OF REPORTS-CONSOLIDATED BASIS a. Statement of Ledger Assets, Income and Disbursements (LAID).
- Financial Statements.
- Statement of Submitted and Cash Transactions by Station.
- Selected Assets, Liabilities and Operating Accounts.
- Distribution of Supplementary Contracts.
SECTION N. SPECIAL INSURANCE REPORTS1. PREPARATION OF REPORTS-GENERAL a. A series of special insurance reports are prepared at the Philadelphia ITC on an individual station basis. The reports are based on the transactions processed during the month for each station. b. A series of special insurance reports are also prepared at the Philadelphia ITC at a consolidated level. 2. PREPARATION OF REPORTS-STATION LEVEL a. Available Receipts-Repayments Report No. 4. This report is used primarily for control purposes and identifies repayment collections which were originally classified and deposited as available receipts for the USGLI (K) and NSLI (V) funds. The report accumulates the monthly net change amount and also the fiscal year cumulative amount. The total amount of the report is automatically posted (8_1012.03/ 8_3569.11 (Corresponding FMS SGL Account #: 5501.9089) (Corresponding FMS SGL Account #: 4620.4114) and 8_3569.10/8_1012.01) to affect the transfer from available receipts to repayments when the accounting runs are made. b. Expended Apportionment Report No. 5. This report is used primarily for control purposes and is maintained for the insurance revolving funds and accumulates obligations as they occur in the individual funds. The report accumulates the monthly net change and the cumulative amount for the current fiscal year. The budgetary memorandum accounts (8_5001.00/8_5002.00) Corresponding FMS SGL Account #: 9089.9089) used in the control of apportionments are automatically posted from this report when the accounting runs are made. c. Receipts and Reimbursement Report No. 7. This report is used primarily for control purposes, is maintained for the I&I appropriation (36X0120), and accumulates the amount of receipts and reimbursements earned during the current fiscal year. The report accumulates the monthly net change amount and the cumulative amount for the current fiscal year. The net change total for all offices is then automatically posted to the allotment accounts when the accounting runs are made. The VBA ORM Accounting Policy and Reporting Division (101/241B) posting into the Trial Balance (office code "3") is 842226.00/842227.00 (Corresponding FMS SGL Account #: 9089.9089). The VACO CFO (04) Trial Balance posting (office code "5") is 842222.00/842221.00 (Corresponding FMS SGL Account #: 9088.9089) or, if amount earned exceeds the amount anticipated the posting for the excess, is 842222.00/842223.00 (Corresponding FMS SGL Account #: 9088.9089) . d. Accrued Expenditures Report No. 8. This report is used primarily for control purposes, is maintained for the I&I appropriation (36X0120), and accumulates the net amount of expenditures for the current fiscal year. The report accumulates the monthly net change amount and the cumulative amount for the current fiscal year. The total net change is automatically posted (842227.00/842229.00) (Corresponding FMS SGL Account #: 9089.9089) to show the funded obligations when the accounting runs are made. e. Obligated Balance Report No. 9. This report is used primarily for control purposes and is maintained for the I&I appropriation (36X0120) to accumulate the net change in the obligated balance. The report accumulates the monthly net change and the cumulative amount for the current fiscal year. The net change in the obligated balance is posted automatically when the accounting runs are made. If the change in the obligated balance is a plus, the posting is 842226.00/842227.00 (Corresponding FMS SGL Account #: 9089.9089). If the change is a minus, the posting is 842227.00/842226.00. 3. PREPARATION OF REPORTS-CONSOLIDATED BASIS a. Statement of Ledger Assets, Income and Disbursements (LAID). At the end of each month after the individual station trial balances are processed, this report is generated as part of the Automated Management Information System (AMIS) subsystem in Philadelphia. The LAID reports are special insurance reports prepared primarily for the Chief Actuary and are used in the preparation of various insurance actuarial reports. The statement lists the ledger assets, income and disbursements for each insurance fund and the appropriation. The amount shown as ledger assets will be the balances in the selected asset accounts as of the end of each month. The amounts shown as income and disbursements will be the total monthly transactions for the selected income and disbursement accounts. The cumulative amount from the date of the origin of each fund will also be shown for income and disbursements. A report will also be prepared at the end of each calendar and fiscal year. However, instead of monthly totals, calendar and fiscal year totals will be shown. The cumulative amounts from the date of the origin of each fund will also be shown on the yearly reports. b. Financial Statements. At the end of each month after the individual station trial balances are processed, this report is generated as part of the Automated Management Information System (AMIS) subsystem in Philadelphia. These financial statements are reports which are processed monthly on an accrual basis to show the monthly net changes and the current fiscal year balances and/or cumulative transactions. The reports are used in budget presentation and for fiscal planning purposes. They are also used to reconcile VA transactions with Treasury transactions. The report is made up of the following parts:
c. Statement of Submitted and Cash Transactions by Station. At the end of each month after the individual station trial balances are processed, this report is generated as part of the Automated Management Information System (AMIS) subsystem in Philadelphia. It is maintained for the I&I appropriation (36X0120) and shows disbursements and receipts on an accrued basis as well as a cash basis. The report is used as an aid in budgetary presentation and to reconcile VA transactions with Treasury transactions. The report accumulates the monthly transactions and the cumulative transactions for the current fiscal year. d. Selected Assets, Liabilities and Operating Accounts. At the end of each month after the individual station trial balances are processed, this report is generated as part of the Automated Management Information System (AMIS) subsystem in Philadelphia. It is maintained for the insurance programs and shows the balance in selected, asset, liability and holding accounts. It is prepared at the end of the calendar and fiscal year. It is used in actuarial analysis and budget presentation. e. Distribution of Supplementary Contracts. At the end of each month after the individual station trial balances are processed, this report is generated as part of the Automated Management Information System (AMIS) subsystem in Philadelphia. It is maintained for the insurance programs and accumulates the amount incurred as income and disbursements under supplementary contracts. The report is prepared on a cumulative calendar and fiscal year basis. It is used in actuarial analysis and in budget presentation.
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