Governmentwide Financial Report System
The Governmentwide Financial Report System (GFRS) is an application used to collect closing package information from Federal Program Agencies (FPAs). The Closing Package is a set of prescribed financial statements of an agency's department-level comparative, audited, financial data.
The primary purpose of this process is to present a comprehensive report on the government's financial position as well as defining a mechanism that assists with resolving material deficiencies identified by the Government Accountability Office (GAO).
GFRS replaces Federal Agencies' Centralized Trial-Balance System (FACTS I) and Intragovernmental Fiduciary Confirmation System (IFCS), which were decommissioned in 2014.
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Last modified 11/14/18