Bureau of the Fiscal Service

Program Summary by Budget Activity

Dollars in Thousands

 FY 2012 FY 2013 FY 2014 FY 2012 TO FY 2014

 Enacted Annualized Request $ Change % Change

Budget Activity CR Rate 

Collections $21,166 $21,231 $21,531 $365 1.72%

Do Not Pay Business Center $10,000 $10,061 $5,000 ($5,000) -50.00%

Government Agency Investment Services $15,419 $15,513 $13,704 ($1,715) -11.12%

Government-wide Accounting and Reporting $64,374 $64,568 $65,486 $1,112 1.73%

Payments $132,265 $133,339 $126,636 ($5,629) -4.26%

Retail Securities Services $116,260 $116,973 $100,789 ($15,471) -13.31%

Summary Debt Accounting $8,836 $8,890 $4,737 ($4,099) -46.39%

Wholesale Securities Services $23,120 $23,261 $22,282 ($838) -3.62%

Subtotal, Fiscal Service $391,440 $393,836 $360,165 ($31,275) -7.99%

Offsetting Collections - Reimbursables $254,746 $247,551 $239,342 ($15,404) -6.05%

Unobligated Balances from Prior Years $4,000 $2,000 $4,903 $903 22.58%

Total Program Operating Level $650,186 $643,387 $604,410 ($45,776) -7.04%

Direct FTE 2,077 1,954 1,676 (401) -19.31%

Reimbursable FTE 561 619 714 153 27.27%

Total FTE 2,638 2,573 2,390 (248) -9.40%

* In FY 2012 and FY 2013 FMS and BPD resources were managed separately. FMS direct programs include: Collections, Payments, and 

Government-wide Accounting and Reporting. BPD programs include: Do Not Pay Business Center, Government Agency Investment Services, 

Retail Securities Services, Summary Debt Accounting, and Wholesale Securities Services.

* Total Appropriated Resources in FY 2012 and FY 2013 include $8 million and $1 million in projected Legacy Treasury Direct User Fee 

collections, respectively.

* A portion of the Reimbursable/Fee FTE is funded by fee revenue as authorized by the Debt Collection Improvement Act (DCIA) of 1996.

*The FY 2014 FTE request reflects an additional 18 FTE for FIT and Government-wide Transparency office that is not in MAX. 

Summary

The mission of the Bureau of the Fiscal 

Service (Fiscal Service) is to promote the 

financial integrity and operational efficiency 

of the U.S. Government through exceptional 

accounting, borrowing, collections, payments, 

and shared services. The Fiscal Service plays a 

key role in supporting the Department of the 

Treasury's fifth strategic goal of Managing the 

Government’s Finances in a Fiscally 

Responsible Manner. The organization 

collects money due to the United States, 

disburses its payments, and performs central 

accounting functions. Additionally, Fiscal 

Service borrows the money needed to operate 

the Federal Government and accounts for the 

resulting debt. The bureau has also contributed 

towards Treasury’s Priority Goal of increasing 

electronic transactions with the public through 

its Paperless Treasury Initiative. This includes 

increasing electronic payments, requiring 

businesses to pay their taxes via electronic 

Federal Tax Deposit coupon payments, and 

eliminating the sale of paper savings bonds.

As in the FY 2013 President’s Budget, 

Treasury proposes to merge the appropriation 

accounts for the Bureau of the Public Debt 

(BPD) and the Financial Management Service 

(FMS) into a single Fiscal Service account to 

improve the efficiency and effectiveness of 

Treasury’s financial management operations.

Treasury is operating and accounting for 

expenditures under the existing FMS and BPD 
accounts pending Congressional action on this 

request. The vision for Fiscal Service is to 

transform the way the government manages its 

finances and delivers shared services. Through 

its consolidation effort, the Fiscal Service will 

introduce a level of efficiency, transparency, 

and accountability. The organization plans to 

improve financial management and shared 

service delivery through efficient and effective 

operations by utilizing a best practices 

approach gained from consolidation efforts.

Fiscal Service FY 2014 Budget Highlights

Dollars in Thousands

Fiscal Service FTE Amount

FY 2012 Enacted 2,077 $391,440

FY 2013 Annualized CR Rate 1,954 $393,836

Changes to Base:

Adjustment to Request (171) ($33,305)

Adjustment to FTE Estimate (171) -

Efficiency Savings Proposed in FY 2013 - ($15,031)

Non-recur CR Increase - ($2,396)

Proposed Program Decreases in FY 

2013 - ($10,296)

Non-Recurring Costs proposed in FY 

2013 - ($5,582)

Maintaining Current Levels (MCLs): - $4,228

Pay-Raise - $2,437

Non-Pay - $1,791

Non-Recurring Costs: - ($6,151)

Summary Debt Accounting Systems 

Non-Recurring Cost - ($3,827)

Government Agency Investment 

Services Non-Recurring Cost - ($658)

Wholesale Securities Services NonRecurring Cost - ($126)

Payment Reorganization (Redirect) - ($1,540)

Efficiency Savings: (120) ($11,892)

Fiscal Service Consolidation Savings (40) ($1,440)

Rent Savings - ($2,700)

Paperless Treasury/Center Closure (80) ($6,543)

Data Center Consolidation/Fiscal IT - ($1,209)

Transfers: 8 $1,800

Transfer FIT from DO S&E 8 $1,800

Subtotal Changes to Base (283) ($45,320)

Total FY 2014 Base 1,671 $348,516

Program Changes:

Program Decreases: (5) ($5,591)

Eliminate Paying Agent Fees - ($4,985)

Eliminate New Issues of Paper Payroll 

Savings Bonds (5) ($489)

Eliminate Paper Savings Bonds Sold 

OTC at Financial Institutions - ($117)

Reinvestments: 2 $11,740

Support Circular A-127 2 $600

Support Financial Innovation and 

Transformation - $2,400

Consolidation in Support of the Fiscal 

Service - $8,740

Program Increases: 8 $5,500

Government-Wide Transparency Office 8 $5,500

Total FY 2014 Request 1,676 $360,165

FY 2014 Budget Adjustments

Adjustment to Request

Adjustment to FTE Estimate +$0 / -171 FTE

Fiscal Service has identified 171 unfunded and 

unutilized FTE that were included in previous 

estimates are reflected in this adjustment.

Efficiency Savings Proposed in FY 2013 -

$15,031,000 / +0 FTE

Efficiencies from FY 2013 totaling 

$15,031,000 are realized.

Non-recur CR Increase -$2,396,000 / +0 FTE

The across-the-board 0.612 percent increase 

provided in the CR through March 27, 2013 is 

non-recurred.

Proposed Program Decreases in FY 2013 -

$10,296,000 / +0 FTE

The Paying Agent Fees and Administrative 

Services savings from FY 2013 are realized. 

Non-Recurring Costs proposed in FY 2013 -

$5,582,000 / +0 FTE

The Do Not Pay Business Center and 

Modernizing GAIS Program savings from 

FY 2013 are realized. 

Maintaining Current Level (MCLs)

Pay-Raise +$2,437,000 / +0 FTE

The President's Budget proposes a one percent 

pay-raise for Federal employees in 2014.

Non-Pay +$1,791,000 / +0 FTE

Funds are requested for inflation adjustments 

in non-labor expenses such as GSA rent 

adjustments, postage, supplies, and equipment.

Non-Recurring Costs

Summary Debt Accounting Systems NonRecurring Cost -$3,827,000 / +0 FTE

By the end of FY 2013 the Fiscal Service will 

modernize its current Summary Debt 

Accounting environment by completing all 

development and testing phases of the project. 

As a result, the Fiscal Service will not require 
these resources in FY 2014 due to the 

completion of the project.

Government Agency Investment Services NonRecurring Cost -$658,000 / +0 FTE

Savings realized from a shared IT system 

license cost with Summary Debt Accounting 

as well as reductions in administrative and IT 

support services.

Wholesale Securities Services Non-Recurring 

Cost -$126,000 / +0 FTE

Fiscal Service projects minor fluctuations in 

cost.

Payment Reorganization (Redirect) -

$1,540,000 / +0 FTE

Funds will be redirected to fund the Fiscal 

Service Consolidation.

Efficiency Savings

Fiscal Service Consolidation Savings -

$1,440,000 / -40 FTE

FY 2014 savings are due to staff reductions 

from attrition as a result of the Fiscal Service 

consolidation.

Rent Savings -$2,700,000 / +0 FTE

Savings realized from one less building lease 

from maximizing space in Treasury existing 

facilities, which was planned prior to the 

consolidation announcement. 

Paperless Treasury/Center Closure -

$6,543,000 / -80 FTE

In FY 2014, the All Electronic initiative will 

save the Government money through

continuing efforts to eliminate paper. As a 

result, the Fiscal Service will close the 

Emeryville payment center, which will provide 

savings. However, the Fiscal Service will 

have lease obligations until November 2016

and is currently working with GSA to develop 

alternatives to its current lease including 

negotiating early termination and subleasing. 

Data Center Consolidation/Fiscal IT -

$1,209,000 / +0 FTE

Savings derived from the leasing and 

operational costs associated with this 

consolidation, as well as other reductions in 

contracting services and equipment.

Transfers

Transfer FIT from DO S&E +$1,800,000 / +8 

FTE

Treasury proposes to realign the Office of 

Financial Innovation and Transformation (FIT) 

from the Office of the Fiscal Assistant 

Secretary in Departmental Offices (DO) to the 

Fiscal Service. This proposed realignment 

would transfer eight FTE and $1.8 million in 

appropriated resources from DO’s 

appropriated Salaries and Expenses (S&E) 

base to the Fiscal Service S&E base. Placing 

FIT within Fiscal Service will improve the 

planning and implementation of FIT’s 

initiatives by more closely aligning strategic 

direction with operational implementation,

which is performed by Fiscal Service. Under 

this structure, the Fiscal Assistant Secretary 

will continue to maintain high-level policy 

guidance of FIT.

Program Decreases

Eliminate Paying Agent Fees -$4,985,000 / +0 

FTE

Six months of savings from eliminating fees 

paid to agents who redeem paper savings 

bonds.

Eliminate New Issues of Paper Payroll 

Savings Bonds -$489,000 / -5 FTE

Savings of paying agent fees from a reduction 

of paper payroll savings bond redemptions and 

FTE savings from a decline in customer 

service transactions since new issues of paper 

payroll bonds were eliminated.
Eliminate Paper Savings Bonds Sold OTC at 

Financial Institutions -$117,000 / +0 FTE

Savings of paying agent fees from a reduction 

of paper over-the-counter savings bond 

redemptions.

Reinvestments

Support Circular A-127 +$600,000 / +2 FTE

Requests $0.6 million and two FTE to support 

OMB’s Circular A-127 implementation, which 

prescribes policies and standards for executive 

departments and agencies to follow when 

managing their financial management 

systems. FIT will assist OMB’s annual review 

of agency financial systems requests. FIT will 

work to promote the standardization of 

financial data and processes.

Support Financial Innovation and 

Transformation +$2,400,000 / +0 FTE

Funding is requested to support the 

implementation of the original twelve FIT 

initiatives that were launched in FY 2011 that 

are expected to produce a 20 percent 

improvement in the efficiency of Federal

financial management when fully implemented 

government-wide. Specifically, funds will 

support agency implementation of electronic 

invoicing; centralized receivables 

management; a solution for recording, 

reconciling, and reporting intra-governmental 

transactions; and benchmarking. Funds will 

also support FIT’s government-wide data 

standardization efforts to increase accuracy 

and transparency of Federal financial 

reporting. Funds will also support FIT’s role in 

agency migrations to a shared service model 

for financial systems across the Federal 

Government. 

Consolidation in Support of the Fiscal Service 

+$8,740,000 / +0 FTE

In FY 2014, the consolidation of functions 

performed by BPD and FMS will continue 

with employees impacted by the consolidation 

having until December 2019 to relocate. The 

new Bureau of the Fiscal Service will help 

transform the way the government manages its 

finances and delivers shared services. To 

support the consolidation of administrative, IT, 

and accounting functions in FY 2014, the 

Fiscal Service requests funding for 

outplacement and training services, voluntary 

employee relocations, and space 

reconfiguration.

Program Increases

Government-Wide Transparency Office 

+$5,500,000 / +8 FTE

Fiscal Service will establish a GovernmentWide spending transparency office to increase 

transparency into Federal finances at the 

government-wide level. The Fiscal Service 

will also be supporting the programmatic 

operations to improve the USAspending.gov 

website.

Explanation of Budget Activities

Collections ($21,531,000 from direct 

appropriations, $114,000 from reimbursable 

resources)

The Collections Program supports its strategic 

goal to provide timely, accurate, and efficient 

collection of Federal Government receipts. 

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.

Debt Collection ($0 from direct 

appropriations, $136,505,000 from 

reimbursable resources)

The Fiscal Service’s debt collection 

program supports its strategic goal to 

maximize collection of delinquent debt 

owed to the Government. Fiscal Service

collects delinquent government and child 

support debt by providing centralized debt 
collection, oversight, and operational 

services to Federal Program Agencies 

(FPAs) and states pursuant to the Debt 

Collection Improvement Act (DCIA) of 

1996 and related legislation. Fiscal Service

uses two debt collection programs: 

Treasury Offset Program (TOP) and Cross 

Servicing.

Do Not Pay Business Center ($5,000,000 from 

direct appropriations, $790,000 from 

reimbursable resources)

Following the June 2010 Presidential 

Memorandum on Enhancement of Payment 

Accuracy Through a “Do Not Pay List,” the 

Do Not Pay Business Center was established 

for use by all departments and agencies in 

order to achieve the goal of preventing 

ineligible recipients from receiving payments 

or awards from the Federal Government.

Fiscal Service will continue to support 

implementation of the Improper Payments 

Elimination & Recovery Improvement Act of 

2012, which requires executive agencies to 

review, as appropriate and before issuance, all 

payments and awards for all programs.

Government Agency Investment Services 

($13,704,000 from direct appropriations, 

$2,164,000 from reimbursable resources)

The GAIS Program works to effectively 

finance Government operations by offering 

specialized investments for Government 

entities at the Federal, state, and local levels, 

as well as borrowings by Federal agencies. 

This program consists of three distinct 

components: Federal Investments, Special 

Purpose Securities, and Federal Borrowings. 

The Federal Investments component includes 

issuing, servicing and redeeming Government 

Account Series securities for Federal agencies 

that have specific statutory authority to invest, 

such as the Social Security and Medicare 

Funds, as well as the Unemployment and 

Highway Trust Funds. Special Purpose 

Securities are issued to offer a flexible 

investment alternative for state and local 

governments to refinance their outstanding 

tax-exempt debt. The Federal Borrowings 

Program accounts for and reports on loans 

made to other Federal agencies such as the 

Department of Education, the Department of 

Housing and Urban Development, the 

Department of Agriculture and the Small 

Business Administration.

Government-wide Accounting and Reporting 

($65,486,000 from direct appropriations, 

$3,088,000 from reimbursable resources)

The GWA Program supports the Fiscal 

Service’s strategic goal to produce timely and 

accurate financial information that contributes 

to the improved quality of financial decision 

making by operating and overseeing the 

Government’s central accounting and 

reporting system. The GWA Program also 

works with FPAs to adopt uniform accounting 

and reporting standards and systems. It 

provides support, guidance, and training to 

assist FPAs in improving their governmentwide accounting and reporting responsibilities. 

Fiscal Service collects, analyzes, and publishes 

government-wide financial information, which 

is used by the Federal Government to establish 

fiscal and debt management policies and by 

the public and private sectors to monitor the 

Government’s financial status. 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).

Payments ($126,636,000 from direct 

appropriations, $76,497,000 from 

reimbursable resources)

The Fiscal Service is responsible for managing 

and operating Federal payment systems and 

disbursing approximately 85 percent of all 

Federal payments. Major payments include:

Social Security Benefits, Supplemental 
Security Income, Federal Pension Benefits, 

Veterans’ Compensation and Pension, 

Railroad Retirement Pensions, and tax refunds.

Retail Securities Services ($100,789,000 from 

direct appropriations, $15,917,000 from 

reimbursable resources)

Fiscal Service’s RSS Program works to 

finance Government operations by selling 

marketable and savings securities directly to 

retail investors. The program serves more than 

50 million retail customers. The Fiscal Service

continues to encourage investors to move their 

paper savings bond holdings to 

TreasuryDirect, an online system that allows 

investors to buy, hold, manage, and redeem 

electronic Treasury securities directly from 

Treasury, through financial literacy programs 

that target customers not yet accustomed to 

conducting financial transactions online.

Summary Debt Accounting ($4,737,000 from 

direct appropriations, $748,000 from 

reimbursable resources)

The Summary Debt Accounting (SDA) 

Program is related to the organization’s 

strategic goal of effectively accounting for the 

debt of the Federal Government. SDA is vital 

to meeting the Fiscal Service's responsibility to 

account for nearly $16 trillion of public debt 

and over $450 billion in related interest 

expenses incurred to finance the operations of 

the Federal Government.

The program produces daily reports on the 

balances and composition of the public debt, 

the Monthly Statement of the Public Debt, and 

the annual, audited Schedules of Federal Debt, 

which reports on the single largest liability in 

the annual Financial Report of the U.S. 

Government (FR). SDA has received an 

unqualified opinion on the Schedules of 

Federal Debt for the past 15 years.

Wholesale Securities Services ($22,282,000 

from direct appropriations, $3,519,000 from 

reimbursable resources)

The WSS Program supports the Fiscal 

Service’s strategic goal to effectively finance 

Government operations. WSS is responsible 

for the announcement, auction, issuance and 

settlement of marketable Treasury bills, notes, 

bonds and Treasury Inflation-Protected 

Securities. The program also oversees that 

portion of the Federal infrastructure that 

provides for the transfer, custody, and 

redemption of all Treasury marketable 

securities, which are purchased mostly by 

commercial market participants.

Legislative Proposals

1. Expand Treasury's authority to access 

the National Directory of New Hires to 

include improper payments. 

Under the current law, the Secretary of the 

Treasury has access to information in the 

NDNH for debt collection purposes; this 

proposal seeks an expansion of Treasury's 

authority to access the National Directory of 

New Hires (NDNH) to include improper 

payments for those agencies that already have 

statutory authority to use the NDNH database 

(e.g., Department of Education, Department of 

Housing and Urban Development, etc.). Such 

access would permit the Secretary of the 

Treasury to assist paying agencies in 

comparing information from the NDNH with 

data about persons receiving Federal payments 

and identify individuals who are ineligible to 

receive payments or who are receiving 

erroneous payments in the effort to eliminate 

waste, fraud and abuse in Federal programs 

and prevent improper payments.

2. Expand the Secretary of the Treasury’s

authority to disclose information received 

from Federal and state prisons to include 

improper payments. Estimated decrease in 

improper payments: $375M over ten years
This proposal seeks to amend 42 U.S.C. 1382 

to permit access by the Secretary of the 

Treasury to information contained in the 

Social Security Administration’s Prisoner 

Update Processing System (PUPS) for tax 

administration purposes and for identifying, 

preventing and recovering improper payments. 

Such access would permit the Secretary of the 

Treasury to redisclose prisoner data to Federal

executive, judicial and legislative paying 

agencies and state and local agencies to 

determine the eligibility, or continuing 

eligibility, of an individual or entity to 

participate in a Federal Government program 

(including those administered by a state or 

local government). Additionally, Treasury may 

redisclose such information to the prisons so 

that appropriate action may be taken, if 

necessary, to curb additional improper 

payments.

3. Increase delinquent state income tax debt 

collections. Allow offset of Federal income 

tax refunds to collect delinquent state 

income taxes for out-of-state residents. 

Estimated collections: $1.2 billion in state 

taxes over 10 years (no Federal revenue)

Under current law, Federal tax refunds may be 

offset to collect delinquent state income tax 

obligations but only if the delinquent taxpayer 

resides in the state collecting the tax. This 

proposal allows Fiscal Service to offset 

Federal income tax refunds to collect 

delinquent state tax obligations regardless of 

where the debtor resides. For further details 

on this proposal, please see the Treasury Green 

Book. 

4. Increase delinquent Federal tax debt 

collections. Increase levy authority for 

payments to Medicare providers with 

delinquent tax debt. Estimated collections: 

$707 million over 10 years

The Budget proposes a change to the 

Department of the Treasury’s debt collection 

procedures that will increase the amount of 

delinquent taxes collected from Medicare 

providers. Through the Federal Payment Levy 

Program, the Treasury deducts (levies) a 

portion of a government payment to an 

individual or business in order to collect 

unpaid taxes. Pursuant to the Medicare 

Improvements for Patients and Providers Act 

of 2008, Treasury is authorized to 

continuously levy up to 15 percent of a 

payment to a Medicare provider in order to 

collect delinquent tax debt. The Budget 

proposal will allow Treasury to levy up to 100 

percent of a payment to a Medicare provider to 

collect unpaid taxes. For further details on this 

proposal, please see the Treasury Green Book. 

5. Increase and streamline recovery of 

unclaimed assets owed to the United States. 

Authorize Treasury to locate and recover 

assets of the United States and to retain a 

portion of amounts collected to pay for the 

costs of recovery. Estimated Recoveries: $25 

million over ten years

States and other entities hold assets in the 

name of the United States or in the name of 

departments, agencies and other subdivisions 

of the Federal Government. Many agencies are 

not recovering these assets due to lack of 

expertise and funding. Under current authority, 

Treasury collects delinquent debts owed to the 

United States and retains a portion of 

collections, which is the sole source of funding 

for its debt collection operations. While 

unclaimed Federal assets are generally not 

considered to be delinquent debts, Treasury’s 

debt collection operations personnel have the 

skills and training to recover these assets. This 

legislation would authorize Treasury to use its 

resources to recover assets of the United 

States.
Fiscal Service Performance by Budget Activity

Budget Activity Performance Measure FY 2010 FY 2011 FY 2012 FY 2013 FY 2014

Actual Actual Actual Target Target

Collections Percentage Collected 

Electronically of Total Dollar 

Amount of Federal Government 

Receipts 

85.0 96.0 97.0 97.0 97.0

Debt Collection Amount of Delinquent Debt 

Collected Through All Available 

Tools ($ billions) 

5.45 6.17 6.17 6.67 7.2

Government Agency Investment 

Services

Percent of Respondents Selecting 

the Highest Rating of Customer 

Satisfaction with Government 

Agency Investment Services (%) 

55.0 60.0 60.0 61.0 62.0

Government-wide Accounting and 

Reporting

Percentage of Government-Wide 

Accounting Reports Issued Timely 

100.0 100.0 99.86 100.0 100.0

Payments Percentage of Treasury Payments 

and Associated Information Made 

Electronically 

82.0 84.3 88.0 91.0 92.0

Retail Securities Services Percentage of Retail Customer 

Service Transactions Completed 

within 5 Business Days (%) 

92.7 73.1 75.7 88.0 88.0

Summary Debt Accounting Cost Per Summary Debt 

Accounting Transaction ($) 

11.28 14.8 22.47 20.76 17.67

Wholesale Securities Services Percent of Auction Results 

Released in Two Minutes +/- 30 

Seconds (%) 

100.0 100.0 100.0 100.0 100.0

Key: DISC - Discontinued and B - Baseline

Description of Performance

Collections: The measure, Percentage 

Collected Electronically of Total Dollar 

Amount of Federal Government Receipts 

refers to the dollar value of collections 

received electronically. December 31, 2012, 

97 percent of FY 2013 collections have been 

settled electronically. The Fiscal Service

expects to maintain an electronic collections 

rate of at least 97 percent in FY 2013 and 

FY 2014. The goal owner for this budget 

activity is the Assistant Commissioner, 

Revenue Collections Management.

Debt Collection: In FY 2012, the Fiscal 

Service did not meet its target to collect at 

least $6.67 billion in delinquent debt. The

Department of Education’s delayed referrals to 

the TOP due to system issues, and the Internal 

Revenue Service’s low-income filter policy, to 

exclude certain low-income taxpayers from tax 

levy of Social Security benefit payments, 

contributed to the challenges the Fiscal Service 

encountered in trying to meet the target.

Fiscal Service plans to meet with both 

agencies to discuss system issues, to find ways 

to improve the referral process, and to review 

the low-income filter policy. As of September 

30, 2012, the Fiscal Service collected $6.17 

billion in delinquent debt. The Fiscal Service

expects to achieve its FY 2013 target of $6.67

billion in delinquent debt. The Fiscal Service

continues to roll out Debt Check, an online

program used to help agencies bar delinquent 

debtors from obtaining new loans or loan 

guarantees. The Fiscal Service goal for 
FY 2014 is to collect $7.2 billion in delinquent 

debts through the use of expanding the 

administrative wage garnishment collection 

tool and legislative changes such as the 

proposal to allow the Treasury to offset 

Federal income tax refunds to collect 

delinquent state tax obligations regardless of 

where the debtor resides.

Do Not Pay Business Center: Since the Do 

Not Pay Business Center was launched in 

FY 2012, significant progress has been made 

towards providing agencies a one-stop-shop to 

verify eligibility prior to issuing a payment.

Government Agency Investment Services:

The Government Agency Investment Services 

(GAIS) Program established a goal of 

providing high quality customer satisfaction, 

transaction processing, and accurate and 

timely payments to investors. To measure 

performance in relation to this goal, the 

organization completed an initial customer 

survey focusing on both program and system 

satisfaction to identify opportunities for 

improvement. A baseline was determined, and 

the program set a goal to incrementally 

increase the percentage of respondents giving 

GAIS the highest level of customer 

satisfaction. Using the survey responses, the 

Fiscal Service plans to target areas for 

improvement, thereby progressively increasing 

the percentage of customers rating GAIS as 

"Excellent" in FY 2012 and FY 2013. The 

target percentage of customers rating GAIS 

excellent in FY 2014 is 62 percent. Customer 

responses to the program and system related 

questions will determine cost beneficial 

enhancements made to the system as well as 

procedural updates for the programs.

Government-wide Accounting and 

Reporting: In FY 2013, the Fiscal Service

continues to achieve its target of 100 percent 

for its measures Percentage of Governmentwide Accounting Reports, which include the 

Daily Treasury Statement (DTS), Monthly 

Treasury Statement (MTS), and consolidated 

Financial Report (FR), issued on Time. The 

Fiscal Service continues to achieve its targets 

by maintaining established process of 

validating and reconciling data with reporting 

sources such as the Regional Finance Centers, 

FPAs, and various electronic deposit and 

payment applications. The Fiscal Service will 

continue modernization efforts to ensure the 

timeliness of these reports and anticipates it 

will continue to achieve the 100 percent target 

for FY 2014.

Payments: The measure Percentage of 

Treasury Payments and Associated 

Information Made Electronically supports 

Treasury’s paperless agency priority goal. Due 

to the continued success of the Go Direct and 

Direct Express® programs and 

implementation of the Paperless Treasury 

initiative in FY 2012, Fiscal Service has issued 

over 88 percent of its payments via EFT, 

exceeding its target of 85 percent. Fiscal 

Service expects to achieve its targets in 

FY 2013 and FY 2014 by expanding electronic 

conversion efforts to additional benefit 

agencies and payment types, such as other 

vendor miscellaneous payments and IRS 

refunds. The goal owner for this budget 

activity is the Assistant Commissioner, 

Payment Management (Chief Disbursing 

Officer).

Retail Securities Services: RSS is committed 

to supporting Treasury's Paperless initiative by 

encouraging people to buy securities, access 

their accounts, and conduct transactions 

electronically. In FY 2011, RSS began 

measuring the increase in the number of 

customers who buy Treasury securities 

electronically. In FY 2012, the program 

exceeded its goal for a 20 percent annual 

increase by more than doubling the number of 

customers buying retail securities 

electronically. For FY 2013, RSS expects a 10 
percent increase over FY 2012 levels. The 

program will meet this goal by ending all 

Legacy Treasury Direct sales by November 1, 

2012 and marketing Treasury savings 

products. For FY 2014, the program targets a 

10 percent annual increase by rolling out the 

new savings program to a broad, national 

audience. In FY 2012, the RSS Program’s 

customer service workload, which includes 

answering phone and email inquiries, 

processing payments or changes to payment 

instructions, and handling TreasuryDirect 

requests, increased due to inquiries about the 

end of paper savings bond sales and 

enhancements to TreasuryDirect services. In 

FY 2013 and FY 2014, RSS expects to meet 

an increased target of 88 percent by 

continually streamlining work processes and 

increasing the volume of electronic business 

transactions.

Summary Debt Accounting: Fiscal Service

tracks the Cost per Summary Debt Accounting 

Transaction, which includes reporting all 

financial activity related to the public debt of 

the United States. Issues, redemptions, and 

interest payments on the public debt must be 

accounted for to calculate the amount of debt 

outstanding and interest paid. In FY 2012, 

SDA's cost per summary debt accounting 

transaction came in at $22.47, below the target 

of $23.80. 

In order to maintain and improve operational 

efficiency in the future, Fiscal Service is 

modernizing the Summary Debt Accounting 

environment. As a result, the program projects 

the cost per Summary Debt Accounting 

transaction to be $20.76 in FY 2013 and 

$17.67 in FY 2014. The FY 2013 Summary 

Debt Accounting cost projection decrease is a 

direct result of reduced development costs to 

redefine and modernize the SDA environment. 

The FY 2014 projection decrease is a result of 

the operational efficiencies gained through the 

modernization effort.

Wholesale Securities Services: Fiscal Service

has achieved its target of 100 percent for the 

measure Percent of Auction Results Released 

in Two Minutes +/- 30 Seconds. This target 

has been met since the implementation of the 

latest version of the Treasury Automated 

Auction Processing System in April 2008. It is 

essential that WSS releases auction results 

accurately and consistently to support 

Treasury's goal to manage the Government’s 

finances in a fiscally responsible manner by 

issuing debt in a regular and predictable 

pattern. Ultimately, the accurate and timely 

release of the auction results contributes to the 

preservation of public confidence in Treasury 

securities and the stability of the financial 

market. WSS plans to continue to achieve its 

target by ensuring that upgrades to this 

software keep pace with technology changes.