[GAO Glossary of Terms and Definitions (September 2005)]

FACTS II

The Federal Agencies’ Centralized Trial-Balance System, managed by the Department of the Treasury’s Financial Management Service (FMS) for the Office of Management and Budget (OMB). The system gathers quarterly budget execution information electronically, which is used to prepare Reports on Budget Execution (SF-133), Year- end Closing Statements (FMS-2108), and portions of the actual column of the President’s budget.

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