Department of the Treasury – Budget in Brief

Fiscal Service

Program Summary by Budget Activity

Dollars in Thousands

FY 2016 FY 2017 FY 2018 FY 2017 TO FY 2018

Budget Activity Enacted Annualized CR Request $ Change % Change

Accounting and Reporting $125,752 $124,352 $109,379 ($14,973) -12.04%

Collections $38,798 $38,598 $33,951 ($4,647) -12.04%

Payments $118,454 $117,362 $108,517 ($8,845) -7.54%

Retail Securities Services $70,038 $69,038 $65,712 ($3,326) -4.82%

Wholesale Securities Services $10,808 $13,808 $13,278 ($530) -3.84%

Subtotal, Fiscal Service $363,850 $363,158 $330,837 ($32,321) -8.90%

Reimbursable $349,801 $368,000 $377,980 $9,980 2.71%

Total Program Operating Level $349,801 $368,000 $377,980 $9,980 2.71%

Direct FTE 1,626 1,693 1,680 (13) -0.77%

Reimbursable FTE 417 427 427 0 0.00%

Total FTE 2,043 2,120 2,107 (13) -0.61%

Summary

The Bureau of Fiscal Service’s (Fiscal 

Service) multi-faceted mission supports the 

National Critical Financial Infrastructure of 

the Federal Government. Specifically, Fiscal 

Service provides central payment services to 

Federal Program Agencies (FPAs); operates 

the Federal Government's collections and 

deposit systems; provides government-wide 

accounting and reporting services; conducts all 

Treasury debt financing operations; issues, 

services, and accounts for all Treasury 

marketable securities and non-marketable 

securities, including U.S. savings bonds; 

delivers reimbursable support services to 

FPAs; and manages the collection of 

delinquent debt. The Fiscal Service is focused 

on maximizing efficiencies, transparency, and 

accountability with the goal of transforming 

government-wide financial management and 

the delivery of shared services. 

Fiscal Service FY 2018 Budget Highlights

Dollars in Thousands

Fiscal Service FTE Amount

FY 2017 Annualized CR 1,723 $363,158 

Changes to Base:

Maintaining Current Levels (MCLs): - $6,971 

Pay-Raise - $3,027 

Pay Annualization - $1,109 

Non-Pay - $2,835 

Non-Recurring Costs - ($14,890)

DATA Act - ($10,780)

Rent Savings - ($4,110)

Efficiency Savings (30) ($1,935)

Program Efficiencies (30) ($1,935)

Subtotal Changes to Base (30) (9,854)

Total FY 2018 Base 1,693 $353,304 

Program Changes:

Program Decreases (13) ($22,467)

Accounting and Reporting - ($3,066)

Collections - ($2,788)

Payments - ($2,603)

Retail Securities Services - ($1,600)

Support Services - ($8,323)

Streamlining Staff / Other Efficiencies (13) ($4,087)

Subtotal Program Changes (13) (22,467)

Total FY 2018 Request 1,680 330,837 
Department of the Treasury – Budget in Brief

FY 2018 Budget Adjustments

Adjustments to Request

Maintaining Current Level (MCLs)

Pay-Raise +$3,027,000 / +0 FTE

Funds are requested for the proposed January 

2018 pay-raise.

Pay Annualization +$1,109,000 / +0 FTE

Funds are requested for annualization of the 

January 2017 pay-raise.

Non-Pay +$2,835,000 / +0 FTE 

Funds are requested for inflationary 

adjustments to non-labor costs such as travel, 

contracts, rent, supplies, and equipment. 

Non-recurring Costs and Efficiency 

Savings 

DATA Act -$10,780,000 / +0 FTE 

With the implementation of the DATA Act 

anticipated to be well underway, it is expected 

that Fiscal Service will be able to decrease the 

funding needed to complete the balance of the 

government-wide legislative requirements.

Rent Savings -$4,110,000 / +0 FTE 

With the final closeout of the Emeryville, 

California lease, Fiscal Service is realizing the 

last portion of the Payment Center Closure 

savings.

Program Efficiencies -$1,935,000 / -30 FTE 

Anticipated savings from programmatic and 

FTE requirements to align with operating 

levels.

Program Decreases 

Accounting and Reporting -$3,066,000 / +0 

FTE 

Delay the remediation of non-Department of 

Defense material weaknesses related to the 

Financial Report of the U.S. Government and 

the implementation of critical updates to 

systems.

Collections -$2,788,000 / +0 FTE 

Reductions to contractor support and security 

assessments associated with the expansion of 

electronic collections and settlement activities.

Payments -$2,603,000 / +0 FTE 

System modernization efforts related to 

improved customer agency support and the 

ability to decommission costly antiquated 

legacy systems will be delayed. 

Retail Securities Services -$1,600,000 / +0 

FTE 

Lower the service level to retail securities 

customers by increasing inquiry response time. 

Support Services -$8,323,000 / +0 FTE 

Cancel plans to elevate the physical security 

threshold and plans to increase security 

measures in several facilities, resulting in the 

acceptance of a moderate level of risk while 

still maintaining compliance with current 

General Services Administration (GSA) and 

Department of Homeland Security (DHS) 

Federal Protective Service (FPS) requirements. 

Additionally, Fiscal Service will be unable to 

implement planned space efficiencies designed 

to maximize the bureau’s use of space within 

its D.C. facility.

Streamlining Staff and Other Efficiencies -

$4,087,000 / -13 FTE 

Anticipated savings as a result of streamlining 

staff and realizing any associated efficiencies.

Explanation of Budget Activities

Accounting and Reporting ($109,379,000 

from direct appropriations, $27,399,000 

from reimbursable resources)

The Accounting and Reporting activity 

consists of three programs: Government 

Agency Investment Services, Governmentwide Accounting and Reporting, and Summary 

Debt Accounting.
Department of the Treasury – Budget in Brief

The Government Agency Investment Services 

program issues, services, and redeems 

Government Account Series securities for 

federal agencies that have legislative authority 

to invest, administers State and Local 

Government Series securities and offers a 

flexible investment alternative for state and 

local governments to refinance their 

outstanding tax-exempt debt, and represents 

Treasury’s role in the federal loan program.

The Government-wide Accounting (GWA) 

program produces timely and accurate 

financial information that contributes to the 

improved quality of financial decisions made 

by operating and overseeing the government’s 

Central Accounting Reporting System and 

implementing the data transparency 

requirements included in the DATA Act. 

Fiscal Service collects, analyzes, and publishes 

government-wide financial information made 

available to both the public and private sectors 

to provide transparency on the government’s 

financial status. GWA publications include 

the Daily Treasury Statement, the Monthly 

Treasury Statement, the Treasury Bulletin, the 

Combined Statement of the United States 

Government, and the Financial Report of the 

United States Government (FR).

The Summary Debt Accounting (SDA) 

program reports daily on the balances and 

composition of the public debt, publishes the 

Monthly Statement of the Public Debt, and 

issues the annual, audited Schedules of Federal 

Debt (Schedules). The Schedules report on the 

single largest liability in Treasury’s Agency 

Financial Report and received an unmodified 

opinion for each of the past 19 years.

Collections ($33,951,000 from direct 

appropriations, and $10,033,000 from 

reimbursable resources) 

The Collections program supports the 

objective to improve the disbursement and 

collection of federal funds and reduce 

improper payments made by the U.S. 

Government. The Fiscal Service manages the 

collection of federal revenues such as 

individual and corporate income tax deposits, 

customs duties, loan repayments, fines, and 

proceeds from leases. In addition, the Fiscal 

Service establishes and implements collection 

policies, regulations, standards, and 

procedures for the Federal Government.

Payments ($108,517,000 from direct 

appropriations, and $119,408,000 from 

reimbursable resources) 

The Payments activity issues and distributes 

payments, develops and implements federal 

payment policy and procedures, promotes the 

use of electronics in the payment process, and 

assists agencies in converting payments from 

paper checks to Electronic Funds Transfer

(EFT). This activity also includes controlling 

and providing financial integrity to the 

payments process through reconciliation, 

accounting, and claims activities. In addition, 

Fiscal Service collects monies from those 

parties liable for fraudulent or otherwise 

improper negotiation of government checks.

The Do Not Pay Business Center (DNP) 

provides a single centralized point of entry to 

access timely, reliable, and actionable data and 

information that can help identify, prevent, 

detect, and recover improper payments 

throughout the payment life cycle while 

protecting individuals’ privacy. DNP provides 

agencies insights and analytics based on 

reviews of multiple payment streams. 

Additionally, the DNP working system is 

integrated into the Treasury payment stream, 

enabling real-time at payment matching with 

selected data sources.

Retail Securities Services ($65,712,000 

from direct appropriations, and 

$17,515,000 from reimbursable resources) 

Retail Securities Services (RSS) program 

offers simple, safe, and affordable Treasury 

investment choices that enable Americans to 

invest and save for their future. The RSS 
Department of the Treasury – Budget in Brief

program continues to examine the saving and 

investing needs of customers by researching 

new Treasury retail securities and services that 

will promote savings and appeal to the 

American public. 

Wholesale Securities Services ($13,278,000 

from direct appropriations, and $3,404,000 

from reimbursable resources)

The Wholesale Securities Services program is 

responsible for the announcement, auction, 

issuance, and settlement of marketable 

Treasury bills, notes, bonds and Treasury 

Inflation-Protected Securities. It also oversees 

an infrastructure that provides for the transfer, 

custody, and redemption of all Treasury 

marketable securities that are purchased 

mostly by commercial market participants.

Legislative Proposals

Fiscal Service has no legislative proposals.

Fiscal Service Performance Highlights

FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

FY 2014 –

FY 2016

Budget Activity Performance Measures Actual Actual Actual Target Target Trend

Governmentwide 

Accounting and 

Reporting

Percentage of GovernmentWide Accounting Reports 

Issued Timely

100.0 99.5 100.0 100.0 100.0

Collections

Percentage of Total Federal 

Government Receipts Settled 

Electronically (in dollars)

98.0 98.0 98.2 98.0 98.0

Payments

Percentage of Treasury 

Payments and Associated 

Information Made 

Electronically

94.4 94.68 94.9 94.9 95.2

Retail Securities 

Services

Cost Per Customer Assisted 

Transaction ($) N/A N/A N/A N/A B N/A

Retail Securities 

Services

Cost Per Electronic 

Transaction ($) N/A N/A N/A N/A B N/A

Wholesale 

Securities 

Services

Percent of Auction Results 

Released Accurately 99.3 97.0 100.0 100.0 100.0

Debt Collection

Amount of Delinquent Debt 

Collected Through All 

Available Tools ($ billions)

6.91 7.28 N/A 7.32 7.54

Key: DISC - Discontinued, B - Baseline

Description of Performance

Accounting and Reporting: The Government 

Agency Investment Services (GAIS) program 

strives to provide high-quality customer 

service, reliable transaction processing, and 

accurate and timely payment distribution. To 

aid in measuring performance, the 

organization conducted an annual customer 

survey with the intent to increase the 

percentage of customers rating GAIS as 

"Excellent." Fiscal Service streamlined the 

customer service surveys by integrating all 

individual surveys into a single annual survey. 

A new efficiency measure to ensure timely and 

accurate reporting of investment and 

borrowing activity is now used to measure the 

success of the GAIS program. The FY 2017 

and FY 2018 reporting targets for the new 

measure are 98 percent. In FY 2016, Fiscal 

Service established and met a target of 100

percent for the Percentage of Governmentwide Accounting Reports, which include the 
Department of the Treasury – Budget in Brief

Daily Treasury Statement (DTS), Monthly 

Treasury Statement (MTS), and consolidated 

Financial Report, issued on time measure for 

FY 2016. Fiscal Service continues to achieve 

its targets by maintaining the established 

process of validating and reconciling data with 

reporting sources such as FPAs and various 

electronic deposit and payment applications. 

The bureau will continue modernization 

efforts to ensure the timeliness of these reports 

and anticipates it will continue to achieve the 

100 percent target for FY 2017 and FY 2018. 

In FY 2017, SDA eliminated unnecessary 

and/or duplicative business processes and 

replaced them with a new measure, 

Percentage of Summary Debt Accounting 

reports submitted timely, with a target of 100

percent.

Collections: The measure, Percentage of 

Total Federal Government Receipts Settled 

Electronically, reflects the dollar value of 

collections received (settled) electronically. In 

FY 2016, Fiscal Service’s commitment to 

agency outreach efforts resulted in 98.2

percent of all Federal Government receipts 

settled electronically, exceeding the 98 percent

target. Fiscal Service will continue agency 

outreach and offer new products, such as 

mobile applications, online bill presentment, 

and expand the use of digital wallets to further 

demonstrate the cost efficiency realized 

through the use of electronic transactions. 

Fiscal Service expects to maintain an annual 

electronic collections rate of at least 98 percent

through FY 2018.

Payments: The measure, Percentage of 

Treasury Payments and Associated 

Information Made Electronically, supports 

efforts to reform and modernize the federal 

financial management systems. Due to the 

continued success of the Go Direct® and 

Direct Express® programs and 

implementation of the All Electronic Treasury 

priority, Fiscal Service issued 98.1 percent of 

its benefits payments and 94.9 percent of its 

total payments via EFT in FY 2016. Fiscal 

Service expects to achieve its targets in 

FY 2017 and FY 2018, by continuing to 

expand electronic conversion efforts to 

additional benefits agencies and payment types 

such as vendor miscellaneous payments and 

federal tax refunds.

Retail Securities Services: Fiscal Service 

created new baseline performance measures in 

FY 2017 to support the bureau’s goal to serve 

as a catalyst for effective government through 

initiative and innovation. The Cost per 

Electronic Transaction demonstrates the 

efficiency of investor self-service for all retail 

securities currently offered. Customers are 

able to conduct several transactions 

independently of customer service 

representatives, including creating online 

accounts to purchase and hold securities, 

updating account information, purchasing and 

redeeming securities, etc. 

Wholesale Securities Services: The accurate 

release of auction results is critical to the 

success of the Wholesale Securities Services 

Program. An emphasis on accuracy ensures 

preservation of public confidence in Treasury 

securities and stability of the financial market. 

Therefore, in FY 2016, Fiscal Service released 

100 percent of auction results accurately. 

Fiscal Service anticipates meeting its future 

year targets of 100 percent through ongoing 

business process reviews and regularly 

scheduled contingency planning and mock 

auction exercises.

Debt Collection: In FY 2016, the Fiscal 

Service collected $7.41 billion in delinquent 

debt. The goal for FY 2017 and FY 2018 is to 

collect $7.54 billion and $7.57 billion, 

respectively, in delinquent debt by expanding 

the use of the administrative wage garnishment 

collection tool, enhancing the use of analytics. 

In FY 2019, Fiscal Service will propose 

legislative changes such as authorizing 
Department of the Treasury – Budget in Brief

Treasury to offset federal income tax refunds 

to collect delinquent state tax obligations 

regardless of where the debtor resides.