Bureau of the Fiscal Service
401 Fourteenth Street SW., Washington, DC 20227
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| COMMISSIONER ||Kimberly A. McCoy |
Deputy Commissioners https://www.fiscal.treasury.gov/fsabout/fs_ourpeople.htm
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| Accounting and Shared Services ||Matthew J. Miller, Acting |
| Finance and Administration ||Stephen Manning |
| Financial Services and Operations ||Jeffrey J. Schramek, Acting |
The above list of key personnel was updated 11–2018.
The above list of key personnel was updated 11–2018.
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The Bureau of the Fiscal Service provides central payment services to Federal program agencies, operates the Federal Government's collections and deposit systems, provides Governmentwide accounting and reporting services, manages the collection of delinquent debt owed to the Federal Government, borrows the money needed to operate the Federal Government, accounts for the resulting public debt, and gives reimbursable support to Federal agencies.
The Fiscal Service gathers and publishes Governmentwide financial information that is used by the public and private sectors to monitor the Government's financial status and establish fiscal and monetary policies. These publications include the "Daily Treasury Statement," "Monthly Treasury Statement," "Treasury Bulletin," "U.S. Government Annual Report," and "Financial Report of the U.S. Government."
The Fiscal Service administers the world's largest collection system, processing more than 400 million transactions through the support of six Federal Reserve Banks and a network of over 100 financial institutions. In Fiscal Year 2012, the Fiscal Service collected over $3.16 trillion in Federal revenues from individual and corporate income tax deposits, customs duties, loan repayments, fines, proceeds from leases, as well as from other revenue sources.
The Fiscal Service and Internal Revenue Service manage the Electronic Federal Tax Payment System (EFTPS), which allows individuals and businesses to pay Federal taxes online. The EFTPS website has printable acknowledgment features for documenting transactions, advance payment scheduling, and payment history access.
The Treasury Offset Program is one of the methods used to collect delinquent debt. The Fiscal Service uses the program to withhold Federal payments, such as Federal income tax refunds, Federal salary payments, and Social Security benefits, to recipients with delinquent debts, including past-due child support obligations and State and Federal income tax debt.
The Bureau auctions and issues Treasury bills, notes, and bonds and manages the sales and redemption of savings bonds. It provides daily and other periodic reports to account for the composition and size of the debt. In addition, the Bureau implements the regulations for the Government securities market. These regulations provide for investor protection while maintaining a fair and liquid market for Government securities.
Do Not Pay
The Do Not Pay Business Center has a two-part vision for programs administered or funded by the Federal Government: to help prevent and stop improper payments from being made and to identify and mitigate fraud, waste, and abuse. The goal of the program is to integrate Do Not Pay into existing business processes by providing agencies with access to current data that are relevant for making an award or payment decision.
Through its electronic money programs, the Fiscal Service offers new payment and collection technologies to help Federal agencies modernize their cash management activities. Examples include stored-value cards used on military bases, point-of-sale check conversion, and online credit card collection programs.
Each year, the Fiscal Service disburses more than one billion non-Defense payments to a wide variety of recipients, such as those individuals who receive Social Security, IRS tax refunds, and veterans' benefits. In Fiscal Year 2012, the Fiscal Service issued more than $2.4 trillion in payments, 88 percent of which were issued electronically.
The Administrative Resource Center delivers franchise services on a reimbursable basis to more than 85 Treasury and Federal Government agencies. The Center provides services in six areas: financial management, investment accounting, human resources, information technology, procurement, and travel.
Sources of Information
The Fiscal Service's website has an alphabetical and comprehensive list of links to the Bureau's major programs and services.https://www.fiscal.treasury.gov/fs_a_z_index.htm
The Fiscal Service relies on accountants, administrators, business and finance experts, information technology specialists, and others to carry out mission.https://www.fiscal.treasury.gov/fscareers/fs_careers.htm
Among 339 agency subcomponents, the Fiscal Service placed 118th in the Partnership for Public Service's 2017 Best Places To Work rankings.https://bestplacestowork.org/rankings/detail/TRFD
Do Not Pay
The Do Not Pay Business Center supports Federal agencies in their efforts to reduce the number of improper payments. Data, information, and resources are available on its website.http://www.donotpay.treas.gov
Electronic Federal Tax Payment System (EFTPS)
The EFTPS professionals post answers to frequently asked questions (FAQs) online.https://www.eftps.gov/eftps/direct/FAQGeneral.page
Freedom of Information Act (FOIA)
The FOIA gives the right to request information from the Federal Government's executive branch agencies to any person. It is sometimes referred to as the law that keeps citizens in the know about their Government. The Fiscal Service posts a lot of information on its website for the public's benefit and convenience. Before submitting a FOIA request in writing, information seekers should search the website for the desired information. It may be accessible immediately and free of charge.https://www.fiscal.treasury.gov/foia/foia_home.htm
The Fiscal Service maintains an electronic reading room to support the FOIA.https://www.fiscal.treasury.gov/foia/foia_readingroom.htm
The Fiscal Service maintains a glossary on its websitehttps://www.fiscal.treasury.gov/fs_glossary.htm
The EFTPS website has a glossary of terms and common acronyms.https://www.eftps.gov/eftps/direct/HelpGlossary.page
The Treasury Direct website has a glossary of terms.http://www.treasurydirect.gov/indiv/research/res_glossary/glossary.htm
Government-to-Government Shared Services
The Administrative Resource Center provides Federal agencies with cost-effective, customer-focused, responsive administrative support.https://arc.publicdebt.treas.gov
A short history of the Fiscal Service is available online.https://www.fiscal.treasury.gov/fsabout/fs_history.htm
The Treasury Direct website uses historical images to tell the story of U.S. Savings Bonds from their introduction in 1935 to the second decade of the 21st century.https://www.treasurydirect.gov/timeline.htm?src=td&med=banner&loc=consumer
The Fiscal Service posts news items and press releases online.https://www.fiscal.treasury.gov/fsnews/fs_news.htm
Public Debt Outstanding
The Treasury Direct website has an online tool that allows users to access the data on total public debt outstanding on a daily basis from January 4, 1993, onward. For example, on October 31, 2018, the total public debt outstanding was $21,702,369,768,174.http://www.treasurydirect.gov/NP/debt/current
Reports / Publications
The monthly "Statement of the Public Debt of the United States" and "Treasury Statement of Receipts and Outlays of the U.S. Government," as well as the annual "Financial Report of the U.S. Government," and other publications are available on the Fiscal Service's website.https://www.fiscal.treasury.gov/fsreports/fs_reports_publications.htm
Savings bonds may be purchased and held in an online account. Current rate information is available online or by calling 800-487-2663. Requests for information on all series of savings bonds, savings notes, and retirement plans or individual retirement bonds should be addressed to the Bureau of the Fiscal Service, Division of Customer Assistance, PO Box 7012, Parkersburg, WV 26106-7012. Phone, 304-480-7711.https://www.treasurydirect.gov/indiv/products/prod_eebonds_glance.htm
For information on the purchase of Treasury bills, bonds, and notes, contact the Bureau of the Fiscal Service, Division of Customer Assistance, PO Box 7015, Parkersburg, WV 26106-7015. Phone, 800-722-2678.http://www.treasurydirect.gov/indiv/products/products.htm http://www.fiscal.treasury.gov