Mission:
The Ledger and Financial Statements Branch (LFSB) provides appropriation level management oversight, guidance, and advice for internal and external financial reports to the four REE Mission Area agencies, ARS, NIFA, NASS, and ERS. The branch consists of one Branch Chief and four Staff Accountants; each staff accountant provides expert quality service to their assigned REE agency. The LFSB performs many activities supporting financial reporting and financial statements, participates in the annual internal control review, coordinates Office of Inspector General (OIG) audit sample requests, coordinate data calls, and many other activities. Summary of financial reporting and financial statements activities consist of: i. Preparing and distributing financial management reports; ii. Analyze, report, and correct abnormal balances; iii. Coordinate quarterly review of unliquidated obligations; iv. Prepare front end adjustments (FEA); v. Prepare quarterly and year-end financial reports; vi. Provide ad-hoc queries as requested; vii. Perform various accounting activities (financial statements, footnotes, review/perform reconciliations, record accruals, etc.); viii. Monitor funds at the treasury symbol level; ix. Monitor Financial Management Modernization Initiative (FMMI) to check for posting errors which create inconsistent reporting; x. Reconcile investment activities with Bureau of Public Debt (NIFA); xi. Perform research and validate or explain material differences; xii. Reconcile, prepare, and submit SF-133 and Statement of Budgetary Resources (SBR) amounts; xiii. Resolve trading partner differences by communicating with trading partners or enter correcting entries; xiv. Respond to OIG and internal control audit sample requests relating to the annual financial statement audit; xv. Review Governmentwide Treasury Account Symbol (GTAS) data and assist NFC in finalizing consolidated statements; xvi. Review trial balances; xvii. Prepare variance analysis reports