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SMG 2310.8

FDA STAFF MANUAL GUIDES, VOLUME III - GENERAL ADMINISTRATION

FINANCIAL MANAGEMENT

BUDGET

SUSPENSE ACCOUNT MANAGEMENT

Effective Date: 09/16/2008

[PDF Version]

 1. Purpose
 2. Policy
 3. Responsibilities
 4. Effective Date
 5. History
 

Attachment A: Department of Treasury Bulletin No. 2007-07

1. PURPOSE 

To outline the policy for Suspense Account management for the FDA. It governs the approved Suspense Accounts to be used, as well as the responsibilities of managing those accounts and reporting of them to the Treasury Department.

2. POLICY 

The following Suspense Account rules must be adhered to by the FDA as outlined in the FDA Suspense Account Waiver Request, dated January 31, 2008 and the Department of Treasury Bulletin No. 2007-07 (Attachment A):

Effective July 31, 2008, only the following Suspense Accounts may be used by FDA:

Account 75F3875.006 – Budget Clearing Account - Suspense (F3875)

  • This account may be used only for the Civil Monetary Penalties collected by the Department of Justice on behalf of the FDA
  • This account should not be used for IPAC-related transactions
  • This account should not be used for large vendor payments beyond 9/30/2008

Account 75F3885.006 – Undistributed Intragovernmental Payments - Suspense (F3885)

  • This account may be used for collections and the intended purposes as specified under the Business Justifications section of the waiver request submitted to the Department of Treasury by the Department of Health and Human Services requesting use of Suspense Accounts for FDA
  • This account should be used for all IPAC-related transactions

Suspense Account Management: All Suspense Account balances should only contain transactions that are less than 60 days old. Annual certification of this requirement should be completed as outlined in the Responsibilities section below.

3. RESPONSIBILITIES 

The FDA CFO (or CFO designee) is required by the Department of Treasury to annually certify that the subject Suspense Account’s balance for the preceding fiscal year contain transactions no older than 60 days as part of the Department of Health and Human Services year-end financial statement reporting process. Any exceptions to the 60-day limit must include an explanation.

4. EFFECTIVE DATE 

This policy was signed by John P. Gentile, Associate Commissioner for Operations, effective September 16, 2008.

 5. Document History -- SMG 2310.8, Suspense Account Management

STATUS (I, R, C)DATE APPROVEDLOCATION OF CHANGE HISTORYCONTACTAPPROVING OFFICIAL
Initial09/16/2008N/aOC/OM/OFMJohn P. Gentile, Associate Commissioner for Operations