The fiduciary fund is a special type of government account that has to be reported at the government-wide level. It’s a balance sheet account created for funds that are held in trust by the U.S. Department of Treasury, and it includes accounts such as the Federal Employees’ Retirement System (FERS), Thrift Savings Plan (TSP) and Civil Service Retirement System (CSRS). This article discusses where fiduciary funds get reported, which will help you understand their importance within an organization’s financial reporting structure. In the first part of this post, we’ll start by discussing what types of government accounts are governed by fiduciaries at the federal level and how they’re accounted for on a U.S. Government-wide basis. Next, we’ll take a look at why these accounts need to be tracked separately from other general fund balances in order to provide accurate information about both assets and liabilities for the entire country. Finally, we’ll go over some highlights from GAO’s report that should give stakeholders insight into whether or not any changes might be needed to ensure that these fiduciaries can continue operating successfully

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