Bureau of the Fiscal Service
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
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| 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
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| parent_department = United States Department of the Treasury
| website = {{Expansion depth limit exceeded|https://www.fiscal.treasury.gov/}}
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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
- {{Expansion depth limit exceeded|https://www.fiscal.treasury.gov/}}
- Treasury Order 136-01, which created the Fiscal Service
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