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Domestic Finance

            Fiscal Service

The Bureau of the Fiscal Service (Fiscal Service) was established on October 7, 2012, with the consolidation of two Treasury Department bureaus.  These Bureaus financed government operations, accounted for the resulting public debt, and provided financial and administrative services to federal agencies. They also supplied central payments and collections and deposit services for the federal government and prepared the financial statements of the federal government. By combining these responsibilities, the Bureau of the Fiscal Service transforms the way the federal government manages its financial services. The Fiscal Service delivers inter-agency administrative services with more efficiency, transparency, and accountability than ever before.

The Fiscal Service's mission is to develop policy for and operate the financial infrastructure of the Federal government, including payments, collections, cash management, financing, central accounting, and delinquent debt collection.

OFAS provides policy oversight of the Fiscal Service bureaus and develops policy on payments, collections, debt financing operations, electronic commerce, government wide accounting, government investment fund management, and other issues. The office also performs two mission critical functions for the Department: It manages the daily cash position of the government and it produces the cash and debt forecasts used to determine the size and timing of the government's financing operations. In addition, the office represents the Secretary on the Federal Accounting Standards Advisory Board (FASAB), Joint Financial Management Improvement Program (JFMIP), and the Library of Congress and National Archives Trust Fund Boards, is a statutory member of the government wide Chief Financial Officers Council, and serves as liaison to the Federal Reserve system in its capacity as Treasury's fiscal agent)

​The Fiscal Service consists of the Office of the Fiscal Assistant Secretary (OFAS) and two Treasury Bureaus.  The Fiscal Assistant Secretary reports to the Under Secretary for Domestic Finance.
Tax Time Account Direct Mail Pilot Evaluation - Final report on the Tax Time Account pilot concerning cost-effective methods to transition paper check tax refund payments to electronic payments.
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Last Updated :2/27/2014 1:24 PM

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