Bureau of the Fiscal Service: Difference between revisions

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{{Organization
[[Catergory:Orgs]]
|OrganizationName=Bureau of the Fiscal Service
{{<span class="error">Expansion depth limit exceeded</span>|OrganizationName=Bureau of the Fiscal Service
|OrganizationType=Executive Departments (Sub-organization)
|OrganizationType=Executive Departments (Sub-organization)
|Mission=The Bureau of the Fiscal Service promotes the financial integrity and operational efficiency of the U.S. government through exceptional accounting, financing, collections, payments, and shared services. It provides innovative solutions for managing federal finances to ensure transparency and accountability.
|Mission=The Bureau of the Fiscal Service promotes the financial integrity and operational efficiency of the U.S. government through exceptional accounting, financing, collections, payments, and shared services. It provides innovative solutions for managing federal finances to ensure transparency and accountability.
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|Website=https://fiscal.treasury.gov/
|Website=https://fiscal.treasury.gov/
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}}
{{Short description|United States federal agency}}
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{{Infobox government agency
{{<span class="error">Expansion depth limit exceeded</span>| seal =  
| seal =  
| logo = Bureau of the Fiscal Service logo.svg
| logo = Bureau of the Fiscal Service logo.svg
| formed = {{start date|2012|10|07}}
| formed = {{<span class="error">Expansion depth limit exceeded</span>|2012|10|07}}
| coordinates = {{coords|38.8846779|-77.0359374}}
| coordinates = {{<span class="error">Expansion depth limit exceeded</span>|38.8846779|-77.0359374}}
| preceding1 = [[Bureau of the Public Debt]]
| preceding1 = [[Bureau of the Public Debt]]
| preceding2 = [[Financial Management Service]]
| preceding2 = [[Financial Management Service]]
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| chief5_position =  
| chief5_position =  
| headquarters = Liberty Loan Federal Building<br> [[Washington, D.C.]]
| headquarters = Liberty Loan Federal Building<br> [[Washington, D.C.]]
| employees = 1,969 [[full-time equivalent|FTE]] <sub>(2020)</sub><ref name=bfs2020>"[https://home.treasury.gov/system/files/266/17.-Fiscal-FY-2021-BIB.pdf Bureau of the Fiscal Service: Program Summary by Budget Activity]". ''U.S. Department of the Treasury''. 2020.</ref>
| employees = 1,969 [[full-time equivalent|FTE]] <sub>(2020)</sub><span class="error">Expansion depth limit exceeded</span>
| budget = $857,202,000 <sub>(2020)</sub><ref name=bfs2020/>
| budget = $857,202,000 <sub>(2020)</sub><span class="error">Expansion depth limit exceeded</span>
| chief6_name =  
| chief6_name =  
| chief6_position =  
| chief6_position =  
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| chief9_position =  
| chief9_position =  
| parent_department = [[United States Department of the Treasury]]
| parent_department = [[United States Department of the Treasury]]
| website = {{official URL|https://www.fiscal.treasury.gov/}}
| website = {{<span class="error">Expansion depth limit exceeded</span>|https://www.fiscal.treasury.gov/}}
}}
}}


The '''Bureau of the Fiscal Service''' ('''Fiscal Service''') is a bureau of the [[United States Department of the Treasury|U.S. Department of the Treasury]]. The Fiscal Service replaced the [[Bureau of the Public Debt]] and the [[Financial Management Service]] effective October 7, 2012, by directive of [[Treasury Secretary]] Timothy Geithner.<ref>{{cite web | url=https://www.fiscal.treasury.gov/about.html | title=Bureau of the Fiscal Service - About | publisher=Bureau of the Fiscal Service | year=2018 | accessdate=30 November 2018}}</ref> The merger of the two agencies and their data centers saved $415{{nbsp}}million.<ref>Wenger, Yvonne (September 9, 2012). "[https://www.newspapers.com/image/262783340/ Md. lawmakers protest loss of 450 federal jobs]". ''The Baltimore Sun''. p. A8.</ref>
The '''Bureau of the Fiscal Service''' ('''Fiscal Service''') is a bureau of the [[United States Department of the Treasury|U.S. Department of the Treasury]]. The Fiscal Service replaced the [[Bureau of the Public Debt]] and the [[Financial Management Service]] effective October 7, 2012, by directive of [[Treasury Secretary]] Timothy Geithner.<span class="error">Expansion depth limit exceeded</span> The merger of the two agencies and their data centers saved $415{{<span class="error">Expansion depth limit exceeded</span>}}million.<span class="error">Expansion depth limit exceeded</span>


The Bureau manages the government's accounting, central payment systems, and [[national debt of the United States|public debt]].<ref>{{cite web | url=http://www.fiscal.treasury.gov/fsprograms/fs_programs.htm | title=Bureau of the Fiscal Service - Our Programs | publisher=Bureau of the Fiscal Service | year=2013 | accessdate=26 November 2013 | archive-url=https://web.archive.org/web/20131129213835/http://www.fiscal.treasury.gov/fsprograms/fs_programs.htm | archive-date=29 November 2013 | url-status=dead }}</ref> It also operates the [[TreasuryDirect]] website for purchasing [[United States Treasury security|Treasury securities]].<ref>Trompor, Susan (May 28, 2023). "[https://www.newspapers.com/image/965288286/ Nationwide savings bond scheme leads to headaches]". ''Detroit Free Press''. p. B1, B3.</ref>
The Bureau manages the government's accounting, central payment systems, and [[national debt of the United States|public debt]].<span class="error">Expansion depth limit exceeded</span> It also operates the [[TreasuryDirect]] website for purchasing [[United States Treasury security|Treasury securities]].<span class="error">Expansion depth limit exceeded</span>


Among some of its better known duties is to collect any voluntary donations made to the government for reduction of the public debt.<ref>Purcell, Tom (January 28, 2017). "[https://www.newspapers.com/image/264252986/ Your gift can help pay down US debt]". ''News Herald'' (Port Clinton, Ohio). p. A5.</ref> The amount of donations has averaged $2.3{{nbsp}}million per year during the last 26 years.<ref>{{Cite web |url= https://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm |title=Government - Gift Contributions to Reduce Debt Held by the Public |archiveurl= https://web.archive.org/web/20211006103725/https://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm |archivedate= October 6, 2021 }}</ref> By comparison, the public debt was over $20{{nbsp}}trillion as of 2017.<ref>Yamachika, Tom (December 10, 2017). "[https://www.newspapers.com/image/820574391/ Voluntary Additional Tax?]" ''West Hawaii Today''. p. C4.</ref>
Among some of its better known duties is to collect any voluntary donations made to the government for reduction of the public debt.<span class="error">Expansion depth limit exceeded</span> The amount of donations has averaged $2.3{{<span class="error">Expansion depth limit exceeded</span>}}million per year during the last 26 years.<span class="error">Expansion depth limit exceeded</span> By comparison, the public debt was over $20{{<span class="error">Expansion depth limit exceeded</span>}}trillion as of 2017.<span class="error">Expansion depth limit exceeded</span>


{{Official URL (simple)|url=https://fiscal.treasury.gov/}}
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==Mission==
==Mission==
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== References ==
== References ==
{{reflist}}
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== External links ==
== External links ==
* {{Official website|https://www.fiscal.treasury.gov/}}
* {{<span class="error">Expansion depth limit exceeded</span>|https://www.fiscal.treasury.gov/}}
*[[wikisource:Treasury Order 136-01|Treasury Order 136-01, which created the Fiscal Service]]
*[[wikisource:Treasury Order 136-01|Treasury Order 136-01, which created the Fiscal Service]]


{{US Treasury agencies}}
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[[Category:United States Department of the Treasury agencies]]
[[Category:United States Department of the Treasury agencies]]

Revision as of 09:20, 2 March 2025

Catergory:Orgs {{Expansion depth limit exceeded|OrganizationName=Bureau of the Fiscal Service |OrganizationType=Executive Departments (Sub-organization) |Mission=The Bureau of the Fiscal Service promotes the financial integrity and operational efficiency of the U.S. government through exceptional accounting, financing, collections, payments, and shared services. It provides innovative solutions for managing federal finances to ensure transparency and accountability. |ParentOrganization=Department of the Treasury |TopOrganization=Department of the Treasury |CreationLegislation=Treasury Order 136-01 (effective October 7, 2012) |Employees=4000 |OrganizationExecutive=Commissioner |Services=Public debt management; Federal payments; Collections; Cash management; Financial reporting |Regulations=31 CFR Subchapter A (Bureau of the Fiscal Service) |HeadquartersLocation=38.93298, -76.88792 |HeadquartersAddress=3201 Pennsy Dr, Landover, MD 20785 |Website=https://fiscal.treasury.gov/ }} {{Expansion depth limit exceeded|United States federal agency}}

{{Expansion depth limit exceeded| seal = | logo = Bureau of the Fiscal Service logo.svg | formed = {{Expansion depth limit exceeded|2012|10|07}} | coordinates = {{Expansion depth limit exceeded|38.8846779|-77.0359374}} | preceding1 = Bureau of the Public Debt | preceding2 = Financial Management Service | jurisdiction = United States federal government | chief1_name = Timothy Gribben | chief1_position = Commissioner of the Fiscal Service | chief2_name = | chief2_position = | chief3_name = | chief3_position = | chief4_name = | chief4_position = | chief5_name = | chief5_position = | headquarters = Liberty Loan Federal Building
Washington, D.C. | employees = 1,969 FTE (2020)Expansion depth limit exceeded | budget = $857,202,000 (2020)Expansion depth limit exceeded | chief6_name = | chief6_position = | chief7_name = | chief7_position = | chief8_name = | chief8_position = | chief9_name = | chief9_position = | parent_department = United States Department of the Treasury | website = {{Expansion depth limit exceeded|https://www.fiscal.treasury.gov/}} }}

The Bureau of the Fiscal Service (Fiscal Service) is a bureau of the U.S. Department of the Treasury. The Fiscal Service replaced the Bureau of the Public Debt and the Financial Management Service effective October 7, 2012, by directive of Treasury Secretary Timothy Geithner.Expansion depth limit exceeded The merger of the two agencies and their data centers saved $415{{Expansion depth limit exceeded}}million.Expansion depth limit exceeded

The Bureau manages the government's accounting, central payment systems, and public debt.Expansion depth limit exceeded It also operates the TreasuryDirect website for purchasing Treasury securities.Expansion depth limit exceeded

Among some of its better known duties is to collect any voluntary donations made to the government for reduction of the public debt.Expansion depth limit exceeded The amount of donations has averaged $2.3{{Expansion depth limit exceeded}}million per year during the last 26 years.Expansion depth limit exceeded By comparison, the public debt was over $20{{Expansion depth limit exceeded}}trillion as of 2017.Expansion depth limit exceeded

{{Expansion depth limit exceeded|url=https://fiscal.treasury.gov/}}

Mission

The mission of the Bureau of the Fiscal Service is to promote the financial integrity and operational efficiency of the U.S. government. It focuses on providing exceptional accounting, financing, collections, and payment services, alongside transforming financial management practices through shared services across federal agencies.

Parent organization

The parent organization is the United States Department of the Treasury. The BFS is involved in various programs like the Treasury Offset Program and manages the TreasuryDirect website for securities.

Legislation

BFS was established by Treasury Order 136-01 in 2012, which directed the consolidation of the Bureau of the Public Debt and the Financial Management Service.

Partners

While BFS works with all federal agencies, no specific partnerships are listed for external organizations.

Number of employees

BFS has approximately 4,700 employees.

Organization structure

  • Office of the Commissioner directs overall strategy.
  • Payment Management handles all federal payments.
  • Debt Management oversees public debt operations.
  • Shared Services provides support like financial management and HR to other agencies.

List of programs

  • Treasury Offset Program
  • TreasuryDirect
  • Invoice Processing Platform
  • Centralized Receivables Service

Last total enacted budget

Specific budget figures for BFS as a standalone are not commonly disclosed; it operates within the Department of Treasury's budget.

Leader

The leader of the Bureau of the Fiscal Service holds the title **Commissioner**.

Services provided

BFS provides services like processing federal payments, managing the public debt, offering financial reporting for the government, and providing shared services such as accounting, human resources, and procurement to federal agencies. It also manages systems for electronic funds transfer and debt collection.

Regulations overseen

BFS oversees regulations in 31 CFR Subchapter A, which include rules on the sale and issue of U.S. securities, debt collection, and payment management by federal agencies.

Headquarters address

3201 Pennsy Drive, Building E, Landover, MD 20785

External links

See also

References

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External links

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