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Bureau of the Fiscal Service

FY 2015

President’s Budget 
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Table of Contents

Section 1 – Purpose ....................................................................................................................... 3

1A – Mission Statement.............................................................................................................. 3

1.1 – Appropriations Detail Table .............................................................................................. 3

1B – Vision, Priorities and Context............................................................................................ 3

Section 2 – Budget Adjustments and Appropriation Language............................................. 10

2.1 – Budget Adjustments Table............................................................................................... 10

2A – Budget Increases and Decreases Description................................................................... 10

2.2 – Operating Levels Table.................................................................................................... 12

2B – Appropriations Language and Explanation of Changes................................................... 13

2C – Permanent, Indefinite Appropriations.............................................................................. 13

2.3 – Permanent, Indefinite Appropriations Table.................................................................... 14

2D – Legislative Proposals ....................................................................................................... 14

Section 3 – Budget and Performance Plan ............................................................................... 17

3A – Collections ....................................................................................................................... 17

3.1.1 – Collections Budget and Performance Plan ................................................................... 18

3B – Debt Collection ................................................................................................................ 18

3.1.2 – Debt Collection Budget and Performance Plan ............................................................ 19

3.1.3 – Do Not Pay Business Center Budget and Performance Plan........................................ 20

3D – Government Agency Investment Services....................................................................... 21

3.1.4 – Government Agency Investment Services Center Budget and Performance Plan ....... 22

3E – Government-wide Accounting and Reporting.................................................................. 22

3.1.5 – Government-wide Accounting and Reporting Budget and Performance Plan ............. 24

3F – Payments........................................................................................................................... 24

3.1.6 – Payments Budget and Performance Plan ...................................................................... 27

3G – Retail Securities Services................................................................................................. 27

3.1.7 – Retail Securities Services Budget and Performance Plan............................................. 28

3H – Summary Debt Accounting.............................................................................................. 28

3.1.8 – Summary Debt Accounting Budget and Performance Plan.......................................... 29

3I – Wholesale Securities Services........................................................................................... 30

3.1.9 – Wholesale Securities Services Budget and Performance Plan ..................................... 31

Section 4 – Supplemental Information...................................................................................... 32

4A – Summary of Capital Investments..................................................................................... 32
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Section 1 – Purpose

1A – Mission Statement

Promote the financial integrity and operational efficiency of the U.S. Government through 

exceptional accounting, borrowing, collections, payments, and shared services. 

1.1 – Appropriations Detail Table

Dollars in Thousands

Fiscal Service FY 2013 FY 2014 FY 2015 FY 2014 to FY 2015

Resources Operating Level Enacted Request $ Change % Change

 FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT

New Appropriated Resources:

Collections 117 20,851 108 21,531 108 24,293 0 2,762 0.00% 12.83%

Do Not Pay Business Center 7 5,000 7 5,000 7 5,064 0 64 0.00% 1.28%

Government Agency Investment Services 72 14,728 65 13,704 65 13,055 0 (649) 0.00% -4.74%

Government-wide Accounting and 

Reporting 333 63,457 308 65,486 308 65,486 0 0 0.00% 0.00%

Payments 660 125,570 525 126,636 490 121,715 (35) (4,921) -6.67% -3.89%

Retail Securities Services 558 110,876 528 100,789 528 95,237 0 (5,552) 0.00% -5.51%

Summary Debt Accounting 41 8,443 37 4,737 37 4,325 0 (412) 0.00% -8.70%

Wholesale Securities Services 112 22,092 98 22,282 93 19,009 (5) (3,273) -5.10% -14.69%

Subtotal New Appropriated Resources 1,900 $371,017 1,676 $360,165 1,636 $348,184 (40) ($11,981) -2.39% -3.33%

Other Resources:

Reimbursables 619 247,551 714 239,342 714 241,587 0 2,245 0.00% 0.94%

Unobligated Balances from Prior Years 0 2,000 0 0 0 0 0 0 NA NA

Subtotal Other Resources 619 $249,551 714 $239,342 714 $241,587 0 $2,245 0.00% 0.94%

Total Budgetary Resources 2,519 $620,568 2,390 $599,507 2,350 $589,771 (40) ($9,736) -1.67% -1.62%

* In FY 2013 FMS and BPD resources were managed separately. FMS direct programs included: Collections, Payments, and Government-wide 

Accounting and Reporting. BPD programs included: Do Not Pay Business Center, Government Agency Investment Services, Retail Securities 

Services, Summary Debt Accounting, and Wholesale Securities Services. 

* Total Appropriated Resources in FY 2013 included $1 million in Legacy Treasury Direct User Fee collections. 

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

1B – Vision, Priorities and Context

The Bureau of the Fiscal Service (Fiscal Service) is guided by its vision to transform the way the 

government manages its finances and delivers shared services. Our efforts are focused on 

maximizing efficiencies, transparency, and accountability with the goal of improving 

government-wide financial management and the delivery of shared services. These themes are 

reinforced through our Strategic Goals which promote leadership and innovation, an engaged 

and highly effective workforce, delivery of exceptional programs and services, data transparency 

and usefulness, and expansion of shared services.

The Fiscal Service plays a key role in supporting three of the Department of the Treasury's

strategic goals: Promote domestic economic growth and stability while continuing reforms of 

the financial system; Fairly and effectively reform and modernize federal financial 

management, accounting, and tax systems; and Create a 21st century approach to government 

by improving efficiency, effectiveness and customer interaction. The Fiscal Service is 

committed to delivering strong leadership, exceptional operational services, and a clear vision 
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focused on positive transformational change of government-wide financial management and 

shared services. Operationally, the 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; borrows the money needed to 

operate the Federal Government; handles all Treasury debt financing operations; issues, services, 

and accounts for all Treasury marketable securities and non-marketable securities; provides 

reimbursable support services to Federal agencies; and manages the collection of delinquent 

debt. 

In carrying out its mission, the Fiscal Service’s operations are divided into nine budget

activities:

• Collections;

• Debt Collection;

• Do Not Pay Business Center;

• Government Agency Investment Services;

• Government-wide Accounting and Reporting;

• Payments;

• Retail Securities Services;

• Summary Debt Accounting; 

• Wholesale Securities Services.

FY 2013 Accomplishments 

The Fiscal Service has taken significant action toward system modernization, productivity 

enhancements, and cost containment in order to absorb reductions to its budget and reflect a 

strong commitment to fiscal stewardship of taxpayers’ funding. In FY 2013, Fiscal Service 

completed the following priorities:

• Fostered employee inclusion and cross-organizational cooperation at all levels; 

• Started the transition to the new bureau by ensuring timely and accurate sharing of 

information, relocation support, and career transition assistance; 

• Continued national efforts to educate beneficiaries and convert additional payments to 

Electronic Funds Transfer (EFT) by focusing on increasing EFT payments through programs 

and initiatives including Direct Express®, US Debit Card, and eWallet;

• Increased federal agency use of Do Not Pay (DNP) to facilitate the reduction of improper 

payments by actively building the program and governance structure, strengthening technical 

infrastructure, and expanding data sources;

• Continued working with other Federal agencies to implement management and 

administrative reforms, as stated in the President’s FY 2012 Budget, by improving the offset 

match process, improving collection methods and processes, and expanding administrative 

wage garnishment;

• Expanded a centralized receivables service to Federal agencies to increase collections on 

current receivables and delinquent debt;

• Created the Treasury Securities Service by combining the Financing and Retail Securities 

Offices; 

• Completed the final implementation stages for the collections and cash management 

programs and de-commissioned current legacy systems;
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• Prepared the transition of Summary Debt Accounting (SDA) to a new system environment 

that will produce more accurate, appropriate, flexible, and standardized debt accounting 

information;

• Improved outreach, communications, and collaboration efforts internally within the Bureau 

as well as externally with our customers;

• Implemented an enterprise-wide “One Voice” initiative to strategically promote, share, and 

guide the organization in developing best practices, methodologies, and repeatable processes 

with marketing/messaging, outreach/engagement, and consistent product/service 

implementations across federal agencies;

• Implemented the E-Treasury Financial Manual; 

• Developed an enterprise strategy and approach for internal messaging and collaboration 

tools;

• Delivered high-quality customer service in the Retail Securities Services (RSS) Program 

while selling marketable and savings securities directly to retail investors. This was

accomplished by consolidating printing and outbound mailing, implementing intelligent barcoding on outgoing correspondence, and by digitizing microfilm records of the most 

frequently searched definitive securities; 

• Maintained strong controls in the Government Agency Investment Services (GAIS) Program 

while allowing customers to more effectively manage their investments and provided 

feedback for potential improvements through a customer survey; and

• Modernized payment applications used to disburse over 1.1 billion federal payments annually 

with a total dollar value of nearly $2.4 trillion. 

FY 2014 Priorities

The FY 2014 priorities have set an exciting course for the Fiscal Service. The Fiscal Service is 

committed to maintaining a tradition of accomplishments. These FY 2014 priorities include:

• Improve financial management, reduce costs, increase transparency, and improve delivery of 

agencies’ missions within Treasury and across the Federal Government;

• Integrate accounting functions leveraging the expertise of combined resources and effectively 

manage a resource mitigation strategy;

• Establish the underlying infrastructure for the Financial Information Repository (FIR) 

platform to support Federal transparency objectives;

• Establish a single source of authoritative financial data to facilitate efficient operations and 

enable transparency government-wide;

• Provide for access, correlation, and analysis of financial management data from the 

Information Repository and government-wide accounting systems; improve the Payment 

Information Repository (PIR) to provide additional transparency on government payments; 

and expand analytics and reporting capabilities;

• Establish a government-wide spending transparency office and support the programmatic 

operations to improve the USAspending.gov website;

• Explore opportunities for managed growth of shared services while promoting quality service 

levels and cost containment;

• Expand enrollment of agencies using the Invoice Processing Platform (IPP), facilitate the 

acceptance of electronic invoicing across government, and build the capability to support 

intra-governmental reimbursable transactions;
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• Realign the Office of Financial Innovation and Transformation (FIT) from Departmental 

Offices to the Fiscal Service;

• Support the working system mandated in the Improper Payments Elimination & Recovery 

Improvement Act of 2012 (IPERIA);

• Pursue a Non-Tax Paperless Initiative (NTPI) that supports Treasury’s goal of having non-tax 

collections and remittances submitted electronically to reduce costs, improve accuracy, and 

increase options available to citizens. Implement selected “interventions” from the NTPI 

study - including securing/aligning resources; designing and piloting efforts; and 

implementing, evaluating, and refining interventions;

• Increase the collection of delinquent debt by establishing and following a debt collection plan 

to include fully deploying call center operations, improving the use of business analytics, 

implementing state-of-the art collection tools, and increasing outreach and collaboration with 

other government agencies;

• Develop next generation system improvements for Treasury Offset Program (TOP) and 

FedDebt; 

• Expand a centralized receivables service to federal agencies to increase collections on current 

receivables and delinquent debt;

• Increase Federal agency use of DNP to facilitate the reduction of improper payments;

• Verify Treasury-disbursed payment information through the DNP system and return results to 

agencies for adjudication; 

• Continue system enhancements to strengthen and streamline GAIS;

• Implement the Government-wide Treasury Account Symbol (GTAS) system, which will 

replace four legacy systems;

• Educate payees and convert additional payments to EFT by focusing on increasing EFT 

payments through programs and initiatives including Direct Express®, US Debit Card, and 

eWallet;

• Develop a single, centralized post payment system for checks and electronic payment 

transactions; 

• Work towards centralizing government disbursement activity within Treasury for all Federal 

agencies;

• Modernize the Retail program through a new sales/service platform (Treasury Retail 

Investment Manager), new retirement savings program (myRA), re-energized marketing 

efforts, TRES (Treasury Retail E-Services) enhancements, and the microfilm conversion 

initiative;

• Initiate myRA, a retirement savings program to continue providing simple, safe, and 

affordable ways for Americans to save; and 

• Enhance the Treasury Automated Auction Processing System (TAAPS) to include updates for 

Single Bid Limits and decommissioning Legacy Treasury Direct (LTD).

FY 2015 Priorities

• Promote data transparency and standardization;

• Maximize delivery of shared services;

• Obtain a clean audit of the Financial Report of the United States Government by FY 2018

• Promote employee inclusion and cross organizational cooperation at all levels; 

• Emphasize and support strategic and workforce planning, organizational development, 

workforce diversity, and employee growth and skill set development;
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• Effectively manage the planning and execution of new/extended leases for bureau locations 

while pursuing reductions in the overall real estate footprint;

• Continue to increase electronic payments through programs and initiatives such as Direct 

Express®, US Debit Card, and eWallet;

• Add 5 new agencies via US Debit Card/Card Management Services (USDC), and increase 

acceptance of the business model;

• Capitalize on the PIR to provide additional transparency on government payments and 

expand analytics and reporting capabilities;

• Support PACER's decommissioning and transition to the PPS for payments’ aftermath 

processing;

• Modernize the call center and interactive voice response system (IVR) for the Electronic 

Federal Tax Payment System (EFTPS);

• Facilitate the acceptance of electronic invoicing across government and continue to expand 

enrollment of agencies using IPP; 

• Continue the NTPI, supporting Treasury’s goal of having non-tax collections and 

remittances submitted electronically to reduce costs, improve accuracy, and increase options 

available to citizens;

• Increase the collection of delinquent debt;

• Prepare for straight through processing of financial accounting to the Treasury's General 

Account as the Federal Reserve converts to the Central Accounting Processing System 

(CAPS) account structure;

• Deliver operational support functions, standards of performance, testing of 

software/infrastructure upgrades, annual Federal Information Security Management Act 

(FISMA) certifications, and business resumption and application recovery test plans through 

the Over The Counter (OTC) Channel, Settlement Services, Treasury Collateral Management 

and Monitoring (TCMM), and Cash Management Improvement Act System;

• Provide Central Accounting and Reporting System (CARS) operational and technical support 

during the transition of FPAs to CARS;

• Increase federal agency use of DNP to facilitate the reduction of improper payments;

• Transition users from the Fiscal Service Certificate Authority (FSCA) to Personal Identity 

Verification (PIV), develop and test the DNP release and use the FRB Philadelphia to 

perform regression testing on the PIV and DNP releases via the Secure Payment System 

(SPS);

• Maximize centralized government disbursement activity for federal agencies;

• Develop a secure portal for retail customers to access customer support via live chat, educate 

current and potential customers about the new Treasury Retail Investment Management 

(TRIM) system, and eliminate final channels for issuing paper savings bonds; 

• Complete the Financial Agent Selection Process (FASP) for non-tax lockboxes; and 

• Introduce the next iteration of USAspending.gov.

 

Shared Services - Evidence and Evaluation

The Federal Government spends approximately $8.4 billion annually on financial management 

across the 24 large cabinet agencies, with nearly 55,000 financial management personnel. 

Federal agencies configure their systems to their own specific processes, driving greater upgrade 

and maintenance costs, and few agencies are performing at-scale on transaction processing. In 

addition, many federal agencies use legacy systems that lack basic functionality, have unique 
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interfaces, and require frequent upgrades. As a result, the current Federal financial landscape 

consists of almost 46 different instances and many sub-scale transactional processing groups 

costing the government almost $3.2 billion annually (excluding the Department of Defense). 

Finally, the agencies running these systems will incur significant additional expense upgrading 

and modifying them to any new requirements. These expenses would be mitigated through the 

use of shared services. 

Therefore, widespread adoption of shared services for Federal financial management will:

• Reduce the risk of failed systems implementations, deliver greater efficiencies and cost 

savings for the Federal Government, free up agency resources to focus on mission-based 

programs, and help ensure greater standardization of data allowing for more transparency; 

and 

• In accordance with OMB Memorandum (M-13-08): Improving Financial Systems Through 

Shared Services, FIT is partnering with OMB and the broader Federal financial community 

to establish and implement a government-wide policy for agencies to transition to shared 

service providers (SSPs) for their core accounting and financial management system needs. 

Opportunity, Growth, and Security Initiative Proposal

The Opportunity, Growth, and Security Initiative, which will be split evenly between defense 

and non-defense funding, shows how additional discretionary investments in 2015 can spur 

economic progress, promote opportunity, and strengthen national security. The Initiative is fully 

paid for with a balanced package of spending cuts and tax loophole closers, showing that 

additional pro-growth investments are easily affordable without increasing the deficit if Congress 

will enact common-sense spending and tax reforms.

The Fiscal Service Data Transparency program office is working to provide reliable, timely, 

secure, and consumable financial management data for the purpose of promoting transparency, 

facilitating better decision making, and improving operational efficiency. The Data 

Transparency program office is also responsible for operating and making improvements to the 

USAspending.gov website, which provides the public with information on Federal spending. 

The Budget also requests support, above the request presented here, from the new Opportunity, 

Growth, and Security Initiative to improve USAspending.gov’s appearance and functionality for 

policy makers and the public. As the Federal Government’s financial manager, Treasury is 

uniquely positioned to improve the transparency and accountability of Federal financial 

transactions. Treasury’s ultimate vision is to provide reliable, timely, secure, and consumable 

financial management data for the purpose of promoting transparency, facilitating better decision 

making, and improving operational efficiency. This vision is in line with the President’s Open 

Government initiative.

In order to build a more open, accountable, and participatory government, the Fiscal Service is 

working to capture and make available financial management data that will enable the public to 

follow the complete life cycle of Federal receipts and spending -- from appropriations to the 

disbursements of grants, contracts, and administrative spending. This life cycle will enable the 

public to see how the Federal government allocates and monitors appropriated dollars through 

budget execution activities; information, including the dollar amount, payment date, and payee, 
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on goods and services the government purchases and/or what grants and loans it awards; and the 

amount of revenue the government raises and the amount it borrows, all in an integrated portal 

for the public to access whenever needed.

In the past, the lack of interoperability between financial information systems and sources has 

impeded financial transparency. Unlike past financial standardization and transparency efforts 

that relied on massive system changes across all agencies, the Fiscal Service is taking a datacentric approach to achieve its vision. This approach leverages industry standards to tag 

financial and non-financial data with metadata, or structured information that describes, explains, 

locates, or otherwise makes it easier to retrieve, use, or manage data. This approach will both 

provide the necessary linkages between financial events as well as enable users to query data 

across the government. 

Making Federal financial data available has tremendous value to agencies, public, and our 

economy. Having relevant and timely data will not only facilitate better decision making by the 

Federal Government, but will also better enable state and local governments to manage the 

Federal dollars they receive. In addition, the automation of data collection and validation can 

greatly improve data quality and reduce administrative reporting burdens. Finally, Federal 

spending transparency can stimulate the generation of ideas and innovation, not just within the 

United States, but around the world, given the prominence of the United States economy in the 

world.
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Section 2 – Budget Adjustments and Appropriation Language

2.1 – Budget Adjustments Table

Dollars in Thousands

Fiscal Service FTE Amount

FY 2014 Enacted 1,676 $360,165

Changes to Base:

Maintaining Current Levels (MCLs): - $7,469

Pay-Raise - $2,804

FERS Contribution Increase - $1,943

Non-Pay - $2,722

Non-Recurring Costs: - ($11,064)

Consolidation in Support of the Fiscal Service - ($8,740)

Treasury Retail Investment Manager - ($2,324)

Efficiency Savings: (40) ($8,386)

Across the Board Program Reduction - ($2,843)

Paperless Treasury (40) ($5,543)

Subtotal Changes to Base (40) ($11,981)

Total FY 2015 Base 1,636 $348,184

Total FY 2015 Request 1,636 $348,184

2A – Budget Increases and Decreases Description

Maintaining Current Levels (MCLs) ......................................................+$7,469,000 / +0 FTE

Pay-Raise +$2,804,000 / +0 FTE

Funds are requested for the proposed January 2015 pay-raise and annualization of the 2014 payraise.

FERS Contribution Increase +$1,943,000 / +0 FTE

Funds are requested for increases in agency contributions to the Federal Employee Retirement 

System based on updated actuarial estimates.

Non-Pay +$2,722,000 / +0 FTE

Funds are requested for inflation adjustments for non-labor costs such as travel, contracts, rent, 

supplies, and equipment.

Non-Recurring Costs ...............................................................................-$11,064,000 / +0 FTE

Consolidation in Support of the Fiscal Service -$8,740,000 / +0 FTE

This funding was requested to support the consolidation of administrative, IT and accounting 

functions including outplacement and training services; voluntary employee relocations; and 

space reconfiguration in FY 2014 and will no longer be needed in FY 2015.

Treasury Retail Investment Manager -$2,324,000 / +0 FTE

The proposed new sales/service platform will no longer require these resources in FY 2015, and 

therefore the funding can be non-recurred.
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Efficiency Savings .....................................................................................-$8,386,000 / -40 FTE

Across the Board Program Reduction -$2,843,000 / +0 FTE

The Fiscal Service will focus on improving the efficiency of its operations through a disciplined 

process of productivity improvement.

Paperless Treasury -$5,543,000 / -40 FTE

Savings of agent fees, postage and printing by eliminating new issues of over-the-counter paper 

savings bonds. In addition, converting checks to electronic funds transfer has allowed the Fiscal 

Service to decrease its payments centers from four to two, generating efficiencies and savings.
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2.2 – Operating Levels Table

Dollars in Thousands

Fiscal Service FY 2013 FY 2014 FY 2015

Object Classification Actual Enacted Request

11.1 - Full-time permanent 156,143 155,683 154,819

11.3 - Other than full-time permanent 1,873 2,034 2,034

11.5 - Other personnel compensation 6,643 6,947 6,947

11.8 - Special personal services payments 3,603 36,216 36,216

11.9 - Personnel Compensation (Total) 168,262 200,880 200,016

12.0 - Personnel benefits 41,993 41,715 43,402

13.0 - Benefits for former personnel 646 647 220

Total Personnel and Compensation Benefits $210,901 $243,242 $243,638

21.0 - Travel and transportation of persons 1,617 1,660 1,660

22.0 - Transportation of things 353 359 259

23.1 - Rental payments to GSA 22,339 25,278 26,728

23.2 - Rental payments to others 680 679 979

23.3 - Communication, utilities, and misc charges 11,848 11,598 11,598

24.0 - Printing and reproduction 712 823 702

25.1 - Advisory and assistance services 7,349 6,127 6,127

25.2 - Other services 12,393 16,607 10,282

25.3 - Other purchases of goods & serv frm Govt accounts 93,395 39,978 35,430

25.4 - Operation and maintenance of facilities 985 991 991

25.6 - Medical care 9 2 2

25.7 - Operation and maintenance of equip 1,910 1,900 1,900

26.0 - Supplies and materials 2,803 3,259 3,226

31.0 - Equipment 2,814 6,527 2,777

32.0 - Land and structures 859 1,085 1,835

42.0 - Insurance claims and indemnities 50 50 50

Total Non-Personnel 160,116 116,923 104,546

Subtotal New Appropriated Resources $371,017 $360,165 $348,184

Budget Activities:

Collections 21,027 21,645 24,293

Do Not Pay Business Center 5,000 5,790 5,854

Government Agency Investment Services 16,804 15,868 15,219

Debt Collection 118,616 136,505 154,818

Government-wide Accounting and Reporting 66,745 68,574 66,365

Payments 227,971 203,133 184,467

Retail Securities Services 127,717 116,706 111,154

Summary Debt Accounting 9,596 5,485 5,073

Wholesale Securities Services 25,092 25,801 22,528

Total Budgetary Resources $618,568 $599,507 $589,771

FTE 2,183 2,390 2,350
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2B – Appropriations Language and Explanation of Changes

Appropriations Language

Explanation of 

Changes

THE BUREAU OF THE FISCAL SERVICE

Federal Funds

SALARIES AND EXPENSES

For necessary expenses of operations of the Bureau of the Fiscal 

Service, [$360,165,000] $348,184,000 of which not to exceed 

$4,210,000, to remain available until September 30, [2016] 2017, is 

for information systems modernization initiatives; [of which 

$8,740,000 shall remain available until September 30, 2016 for 

expenses related to the consolidation of Financial Management 

Service and the Bureau of the Public Debt;] and of which $5,000 

shall be available for official reception and representation expenses.

In addition, $165,000, to be derived from the Oil Spill Liability Trust 

Fund to reimburse administrative and personnel expenses for 

financial management of the Fund, as authorized by section 1012 of 

Public Law 101–380. (Department of the Treasury Appropriations 

Act, 2014.)

2C – Permanent, Indefinite Appropriations

Federal Reserve Bank Permanent, Indefinite Appropriation

The Federal Reserve Banks (FRBs) act as fiscal agents of the United States when directed by the 

Secretary of the Treasury in accordance with 12 U.S.C. 391. The FRBs support the fiscal 

operations and provide banking and financial services on behalf of the Treasury of the United 

States. Since the FRBs support many Fiscal Service program activities, the performance

measures listed in the Salaries and Expense section of this budget apply to the work done by the

FRBs. Fiscal Service estimates that the cost of FRB services for FY 2015 will be approximately

$395 million.

Reimbursements to the Federal Reserve Banks

Public Law 101-509, 104 Stat. 1389, 1394 (1990), established a permanent indefinite 

appropriation to pay such sums as necessary to reimburse the FRBs for acting as fiscal agents. A 

permanent indefinite account was established in FY 1992. Claims for reimbursements are 

closely monitored for compliance with the Instructions for Filing Reimbursement Claims for 

Fiscal Agency Services provided to the Fiscal Service. Funding for FY 2015 is estimated to be

$110 million.

Financial Agent Services Permanent, Indefinite Appropriation

Congress has given the Secretary of the Treasury broad discretion to deposit money in financial 

institutions and to obtain banking services by designating financial institutions to act/serve as 

Financial Agents (FA) of the United States. The services support many Fiscal Service programs 

such as Electronic Federal Tax Payment System (EFTPS), the Lockbox Networks, E-Commerce 

systems, and the deposit reporting and cash concentration system called TRS. These and other 

programs are vital to the Fiscal Service’s strategic goals, the national financial infrastructure, and 
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the expanding E-Government. The services provided by the FAs are authorized under numerous 

statutes including, but not limited to, 12 U.S.C. 90 and 265.

In FY 2004, Treasury received a permanent, indefinite appropriation to pay for these services. 

The Fiscal Service estimates that the cost of FA services for FY 2015 will be approximately

$638 million, which includes $9 million for Government Sponsored Enterprise - Mortgage

Backed Securities administrative costs.

Government Losses in Shipment

Public Law 103-329 established a permanent, indefinite appropriation to pay such sums as 

necessary to make payments for the replacement of valuables, or the value thereof, lost, 

destroyed, or damaged in the course of United States Government shipments. The Government 

Losses in Shipment Act was approved on July 8, 1937, to dispense with the necessity for 

insurance by the government against loss or damage to valuables in shipment and for other 

purposes. The Act was amended in 1943 to cover losses resulting from the redemption of 

savings bonds (for example, stolen bonds, which were fraudulently negotiated even though the 

paying agent followed identification guidelines established by the Treasury). All authority of the 

Treasury under the Act has been delegated to the Commissioner of the Fiscal Service. In 

FY 2015, the funding estimated to support payments for the replacement of valuables is nearly 

$1.1 million.

2.3 – Permanent, Indefinite Appropriations Table

(Dollars in Thousands)

2D – Legislative Proposals

The following legislative initiatives are proposed for inclusion in appropriate authorizing bills.

1. 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, the Fiscal Service may offset Federal tax refunds to collect delinquent state 

income tax obligations only if the delinquent taxpayer resides in the state collecting the tax. This 

proposal would allow the 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. 

Permanent, Indefinite Appropropriation 2013 Actual 2014 

Estimated

2015 

Estimated

Federal Reserve Bank $ 377,000 $ 395,000 $ 395,000

Reimbursements to the Federal Reserve Banks $ 108,000 $ 110,000 $ 110,000

Financial Agent Services* $ 630,000 $ 645,000 $ 635,000

Government Losses in Shipment $ 183 $ 1,098 $ 1,098

*FY 2013, FY 2014, and FY 2015 include costs for the Government Sponsored Enterprise - Mortgage Backed Securities 

administrative costs of $11 M, $9 M, and $9 M respectively . Additionally, the estimate may be increased to $670M due to 

impending legislation.

Note: Approximately $73 M is reimbursed from other governent agencies and deposited into the General Fund each year.
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2. Reduce costs for States collecting delinquent income tax obligations. Allow States to send 

notices of intent to offset Federal tax refunds to collect State income tax obligations by regular 

first-class mail, rather than by certified mail. Estimated savings: $142.9 million over 10 years 

(no federal revenue)

Under current law, the Fiscal Service may offset Federal tax refunds to collect delinquent State 

income tax obligations only after the State sends the delinquent debtor a notice by certified mail 

with return receipt. With respect to other types of debts that can be collected via Federal tax 

refund offset, for example, Federal nontax, child support, and State unemployment insurance 

compensation debts, the statute is silent as to the notice delivery method. However, the 

regulations require that, for all debts other than State income tax obligations, Federal and State 

creditor agencies send notices by regular first class mail. Similarly, notice requirements for other 

debt collection actions, including administrative wage garnishment, do not require delivery by 

certified mail. This proposal would remove the statutory requirement to use certified mail, 

thereby allowing the Fiscal Service to amend its regulations to permit states to send notices for 

delinquent state income tax obligations by first class mail, saving states certified mail costs and 

standardizing notice procedures across debt types. For further details on this proposal, please see 

the Treasury Green Book.

3. Increase delinquent Federal tax debt collections. Increase levy authority for payments 

to Medicare providers with delinquent tax debt. Estimated collections: $743 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. 

4. Increase delinquent Federal non-tax debt collections. Authorize administrative bank 

garnishment of commercial accounts to collect non-tax debts. Allow Federal agencies to 

collect non-tax debt by garnishing the commercial bank and other financial institution accounts 

of delinquent debtors without a court order and after providing administrative due process. 

Estimated Collections: $320 million over 10 years 

To reach income of commercial entities and other non-wage income and funds available to 

debtors owing delinquent non-tax obligations to the United States, this proposal would authorize 

agencies to issue garnishment orders to financial institutions without a court order. Agencies 

would be required to provide debtors with appropriate due process and other administrative 

protections to ensure that debtors have had the full opportunity to contest the debts and/or enter 

into repayment agreements to avoid issuance of a court order as the last resort. The Internal 

Revenue Service currently has similar authority to collect federal tax debts. 
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By way of background, the Debt Collection Improvement Act of 1996 (DCIA) authorized 

Federal agencies to collect delinquent non-tax debt by garnishing the wages of individual debtors 

without the need to first obtain a court order. Since July 2001, the U.S. Department of the 

Treasury’s Bureau of the Fiscal Service alone has collected $131.6 million in garnished wages 

(as of April 30, 2013) on behalf of Federal agencies. In addition, the ability of agencies to 

garnish wages motivates many debtors to resolve outstanding delinquencies before such action 

can be initiated. This successful collection mechanism, however, reaches only those debtors who 

earn wages and does not reach any other type of debtor income or assets. 

The proposed authority would be available only to garnish commercial accounts of debtors that 

owe delinquent nontax debts, and would not be available to garnish consumer accounts. The 

legislation would direct the Secretary of the Treasury to issue government-wide regulations 

implementing this authority. 

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.
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Section 3 – Budget and Performance Plan

3A – Collections

($24,293,000 from direct appropriations): 

The Collections Program supports Treasury's strategic 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.

The Fiscal Service continues to promote the use of electronic systems in the collections process

and assist agencies in converting collections from paper to electronic media with programs such 

as:

• Electronic Federal Tax Payment System (EFTPS): The Fiscal Service has been working to 

communicate the benefits of EFTPS – accuracy, security, simplicity, and flexibility – to 

financial institutions, small businesses, and tax practitioners. The goal is to continue to 

require businesses to pay their Federal taxes electronically while advocating a similar 

mandate for individuals. EFTPS is a critical system that collects over 83 percent of all

Federal tax revenue.

• Pay.gov: Pay.gov is a system allowing individuals and businesses to make non-tax payments 

to Federal agencies over the internet. New developments in FY 2013 included improved 

interfaces with Federal agencies, and enhanced functionality such as electronic billing and 

electronic forms. Pay.gov currently serves 173 Federal agencies representing 954 cash flows. 

In FY 2013, Pay.gov collected nearly $113 billion through the processing of over 115 

million transactions. 

• Check Conversion and Truncation: It is the Fiscal Service's goal that all paper checks

remitted to the Federal Government be converted or truncated and processed electronically. 

Over the Counter Channel Application (OTCnet) and Electronic Check Processing (ECP) are

programs that provide a complete electronic record of all check images and related financial 

data accessible by agencies and eliminate the need to photocopy checks, safeguard checks, or 

process paper. In FY 2013, checks collected and converted or truncated through OTCnet and 

ECP totaled over $450 billion. 

Description of Performance:

The measure, Percentage Collected Electronically of Total Dollar Amount of Federal

Government Receipts refers to the dollar value of collections received (settled) electronically. In 

FY 2013, the Fiscal Service achieved its target of 97 percent of revenue collections settled

electronically. The Fiscal Service expects to maintain an electronic collections rate of at least 97 

percent in FY 2014, with an increased target of 98 percent in FY 2015.
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3.1.1 – Collections Budget and Performance Plan

Dollars in Thousands

Collections Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Enacted Enacted Enacted Enacted Enacted Operating 

Level

Enacted Request

 Appropriated Resources $19,804 $21,521 $21,911 $22,624 $21,166 $20,851 $21,531 $24,293

 Reimbursable Resources $0 $0 $258 $1,419 $1,419 $176 $114 $0

Budget Activity Total $19,804 $21,521 $22,169 $24,043 $22,585 $21,027 $21,645 $24,293

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Actual Actual Actual Actual Actual Actual Target Target

Percentage Collected 

Electronically of Total Dollar 

Amount of Federal 

Government Receipts 

80.0 84.0 85.0 96.0 97.0 97.0 97.0 98.0

Key: DISC - Discontinued and B – Baseline

3B – Debt Collection

($0 from direct appropriations, and $154,818,000 from reimbursable resources): 

The Fiscal Service’s Debt Collection Program supports Treasury’s strategic objective “to 

improve the disbursement and collection of federal funds and reduce improper payments made 

by the U.S. government.” The Fiscal Service collects delinquent government and child support 

debt by providing centralized debt collection, oversight, and operational services to FPAs and 

states pursuant to the Debt Collection Improvement Act of 1996 (DCIA) and related legislation. 

The Fiscal Service uses two debt collection programs: Treasury Offset Program (TOP) and 

Cross-Servicing.

In FY 2013, the Fiscal Service increased debt collections by (1) undertaking three management 

and administrative reforms, which include improving the offset match process, improving

analytic tools, and expanding Administrative Wage Garnishment, (2) enhancing the FedDebt 

system, and (3) expanding offset services by increasing debt referral and adding new debt types 

(such as unemployment insurance compensation debts).

In FY 2014, the Fiscal Service will begin efforts to replace the existing Cross-Servicing 

collection system, to increase debt collections, and provide state-of-the-art and best practices for 

collecting Federal non-tax debt.

Description of Performance:

In FY 2013, the Fiscal Service exceeded the debt collection performance target, collecting $7.02 

billion in delinquent debt. When completed in FY 2015, the TOP Next Generation system will:

handle increasingly larger volumes of debt and payment types; process new payment types; 

increase payment processing throughput to meet future needs; and meet all essential stakeholder

needs. 
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Additionally, the Fiscal Service anticipates several new legislative proposals to increase debt 

collection will be enacted in FY 2014 and be fully realized in FY 2015.

The Fiscal Service’s goal for FY 2014 and FY 2015 is to collect $7.2 billion and $7.5 billion,

respectively, in delinquent debts by increasing the volume and timeliness of delinquent debt 

referrals, enhancing and expanding existing debt collection tools, and increasing the use of 

analytics to drive improved efficiency and effectiveness. 

3.1.2 – Debt Collection Budget and Performance Plan

Dollars in Thousands

Debt Collection Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Enacted Enacted Enacted Enacted Enacted Operating 

Level

Enacted Request

 Reimbursable Resources $77,330 $86,247 $110,567 $80,036 $80,036 $118,616 $136,505 $154,818

Budget Activity Total $77,330 $86,247 $110,567 $80,036 $80,036 $118,616 $136,505 $154,818

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Actual Actual Actual Actual Actual Actual Target Target

Amount of Delinquent Debt 

Collected Through All Available 

Tools ($ billions) 

4.41 5.03 5.45 6.17 6.17 7.02 7.2 7.5

Key: DISC - Discontinued and B – Baseline

3C – Do Not Pay Business Center 

($5,064,000 from direct appropriations, and $790,000 from reimbursable resources): 

The Fiscal Service’s Do Not Pay Business Center Program supports Treasury’s strategic

objective “to improve the efficiency and transparency of federal financial management and 

government-wide accounting.” 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 federally-funded programs at all departments and agencies in 

order to achieve the goal of preventing ineligible recipients from receiving payments or awards 

from the Federal Government. The Do Not Pay Business Center is a significant step toward 

meeting the President’s directive to establish a single-entry point that departments and agencies 

can access to determine eligibility information prior to making an award or payment. With the 

enactment of the IPERIA, the Do Not Pay Business Center began supporting Executive Branch 

agencies in meeting the IPERIA requirement to verify all payments prior to issuance. In addition 

to integrating Do Not Pay data comparisons into the payment process, the Do Not Pay Business 

Center offers agencies three options geared towards reducing improper payments:

• The Do Not Pay Portal is a web-based, single-entry access portal that assists efforts to 

prevent and recover improper payments. The Do Not Pay Portal enables agencies to access 

multiple data sources in a centralized location, including the Death Master File, the System 

for Award Management-Excluded Parties List System, the Debt Check database, the System 

for Award Management-Central Contractor Registration, the Office of Foreign Assets 
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Control’s Specially Designated Nationals List, the List of Excluded Individuals and Entities, 

and other data sources. The Fiscal Service will continue to research and add Federal and 

commercially available data sources to the Portal. This data will assist agencies in their 

efforts to reduce improper payments throughout the pre-award, pre-payment, and postpayment review processes.

• The Do Not Pay Data Analytics Service uses existing data sources and the application of 

advanced data analytic techniques to identify risks and patterns indicative of systemic 

improper payments or potential fraud that may warrant more thorough analysis and 

investigation on the part of the Federal agency and/or law enforcement. 

• Payment Integration is a service in accordance with IPERIA in which Do Not Pay performs 

a monthly match in partnership with Payment Application Modernization against Social 

Security Administration’s Death Master File. These matches are returned to all agencies 

whose non-tax payments are disbursed through Treasury, at which point they are adjudicated. 

Summary data of the results of this adjudication are returned to Do Not Pay for reporting to 

the Office of Management and Budget.

Description of Performance:

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. 

Since the program's inception, priority was placed on expanding the number of data sources as 

well as the customer base for Do Not Pay services. In FY 2012, the program initiated the 

“Growth phase” for the program where the focus was to increase the number of agencies and 

agency programs using Do Not Pay Services. In FY 2013, Do Not Pay began its “Impact 

Phase,” where the focus is to analyze more volume in the pre-award and pre-payment phases of 

the award cycle versus in the post payment phase. The Impact Phase will continue through FY 

2014. In FY 2015 and beyond, the Do Not Pay Business Center will continue to support 

agencies in meeting their IPERIA requirements to review payments and awards by seamlessly 

integrating into the Treasury payment stream. 

3.1.3 – Do Not Pay Business Center Budget and Performance Plan

Dollars in Thousands

Do Not Pay Business Center Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Enacted Enacted Enacted Enacted Enacted Operating 

Level

Enacted Request

 Appropriated Resources $0 $0 $0 $0 $10,000 $5,000 $5,000 $5,064

 Reimbursable Resources $0 $0 $0 $0 $105 $0 $790 $790

Budget Activity Total $0 $0 $0 $0 $10,105 $5,000 $5,790 $5,854
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3D – Government Agency Investment Services

($13,055,000 from direct appropriations, and $2,164,000 from reimbursable resources): 

The GAIS Program assists in fulfilling Treasury’s strategic objective “to improve the efficiency 

and transparency of federal financial management and government-wide accounting.” This 

program consists of three distinct components: 

 The Federal Investments component includes issuing, servicing and redeeming Government 

Account Series securities for Federal agencies that have legislative authority to invest. As of

September 30, 2013, over $4.8 trillion was outstanding, representing nearly one-third of the 

Federal debt. Federal Investments is also responsible for coordinating with the Office of 

Fiscal Projections and Summary Debt Accounting to employ extraordinary measures and 

ensure that the outstanding public debt subject to limit does not exceed the statutory limit 

during periods of delay. Within this component is the Trust Funds Management Program. 

Twenty-two trust funds are managed and invested on behalf of the Secretary of the Treasury, 

including the Unemployment, Oil Spill Liability, Social Security, Medicare, and Gulf Coast 

Restoration Trust Funds. Investment holdings of these funds total $3.1 trillion. The program 

also oversees the management of another eight Tribal funds on behalf of Treasury. The 

investments of the Tribal funds are executed by the Department of the Interior via 

interagency agreements with the Fiscal Service. During FY 2014, the Trust Funds 

Management Program will disburse grant payments awarded by the Treasury Department in 

support of the Gulf Coast Restoration Trust Fund legislation. 

 The Special Purpose Securities component administers State and Local Government Series 

(SLGS) securities of approximately $124 billion which offer a flexible investment alternative 

for state and local governments to refinance their outstanding tax-exempt debt. During 

FY 2014 and FY 2015, the program will evaluate and coordinate business and system 

impacts of regulatory changes identified by the SLGS Treasury Working Group.

 

 The Federal Borrowings component, which represents Treasury’s role in the Federal loan 

program, accounts for and reports on over $1.1 trillion in loans made to other Federal 

agencies with legislative authority to borrow. Agencies with authority to borrow include, but 

are not limited to, the Department of Education, the Department of the Treasury, the

Department of Agriculture, and the Department of Housing and Urban Development. 

During FY 2013, GAIS:

 Continued to receive a clean opinion from an independent auditor on each of the Statements 

on Standards for Attestation Engagement (SSAE) 16 examinations for Federal Investments 

and Trust Funds Management

 Received a clean opinion from an independent auditor on the Attestation Engagement for 

Selected Trust Funds

 Achieved 100 percent timeliness of collection and disbursement of interest and principal 

payment amounts for GAIS investments and borrowings

 Achieved 99 percent accuracy of collection and disbursement of interest and principal 

payment amounts for GAIS investments and borrowings
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Description of Performance:

The 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 conducts an annual customer survey that focuses on both program and system 

satisfaction. Based on survey responses, the Fiscal Service plans to target areas of improvement 

with the intent to increase the percentage of customers rating GAIS as "Excellent." The Fiscal 

Service’s target percentage for customers rating GAIS as “Excellent” is 62 percent in FY 2014 

and FY 2015. 

To assist in analyzing the efficiency of maintaining these components in a consolidated system 

environment, the Fiscal Service tracks the cost per GAIS (CPI) transaction. Actual FY 2013 cost 

of $35.20 was below the target of $35.88. The CPI targets set for FY 2014 and FY 2015 are 

$39.28 and $40.46 respectively. 

3.1.4 – Government Agency Investment Services Center Budget and Performance Plan

Dollars in Thousands

Government Agency Investment Services Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Enacted Enacted Enacted Enacted Enacted Operating 

Level

Enacted Request

 Appropriated Resources $15,745 $17,723 $18,013 $16,045 $15,419 $14,728 $13,704 $13,055

 Reimbursable Resources $4,473 $1,698 $2,130 $2,130 $2,035 $2,076 $2,164 $2,164

Budget Activity Total $20,218 $19,421 $20,143 $18,175 $17,454 $16,804 $15,868 $15,219

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Actual Actual Actual Actual Actual Actual Target Target

Cost Per Government Agency 

Investment Services 

Transaction ($) 

64.98 41.71 82.08 84.67 33.48 35.2 39.28 40.46

Percent of Respondents 

Selecting the Highest Rating of 

Customer Satisfaction with 

Government Agency 

Investment Services (%) 

N/A N/A 55.0 60.0 60.0 61.0 62.0 62.0

Key: DISC - Discontinued and B – Baseline

3E – Government-wide Accounting and Reporting

($65,486,000 from direct appropriations, and $879,000 from reimbursable resources): 

The Government-wide Accounting (GWA) Program supports Treasury’s strategic objective “to 

improve the efficiency and transparency of federal financial management and government-wide 

accounting” by:

 Collecting, analyzing, and publishing timely and accurate government-wide financial 

information. 

 Operating and overseeing the Government’s central accounting and reporting system. 
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 Working with FPAs to adopt uniform accounting and reporting standards and systems 

including providing support, guidance, and training to assist FPAs in improving their 

government-wide accounting and reporting responsibilities. 

 Monitoring, forecasting, and managing Treasury’s cash and debt position.

 Accounting and reporting for cash and other monetary assets of the Government.

 Maintaining the standardized government-wide chart of accounts, definitions, and 

transactions and accounting entries in consultation with agencies and OMB. 

The GWA cash reporting function supports the national financial infrastructure and continues to

obtain a clean opinion on the Audit of Non-entity Schedules of Government-wide Cash. The 

government-wide financial information is used within the Federal Government to support 

decision-making, and establish fiscal and debt management policies; and by the public and 

private sectors to monitor the Government’s financial position. GWA publications include the 

Daily Treasury Statement (DTS), the Monthly Treasury Statement (MTS), the Treasury Bulletin, 

the Combined Statement of Receipts, Outlays, and Balances of the United States Government

(Combined Statement), and the Financial Report of the United States Government (FR). 

The Fiscal Service is taking significant steps to improve the reliability of the FR. As a result, 

GWA has developed a plan to improve the central accounting and reporting function by 

aggressively pursuing resolutions to material weaknesses. This plan includes the following:

 Requiring comprehensive accounting data from agencies on a quarterly basis that will allow 

the Fiscal Service to better analyze the data for consistency and completeness.

 Proactively enforcing the dispute resolution process to officially resolve and document 

differences when agencies do not agree on the proper accounting.

 Providing agencies with authoritative data using the Transfer Logic Model to reconcile interagency transfers and other transactions that agencies report to the central accounting system.

 Implementing quarterly intergovernmental scorecards for agencies to highlight differences 

and monitoring their progress on addressing the differences.

 Using the Chief Financial Officers Council, Central Reporting Team as a forum to discuss 

accounting and reporting issues that affect the FR.

 Publishing intra-governmental transactions with agreed upon procedures for implementation.

 Establishing the General Fund as a reporting entity.

 Strengthening internal control over the financial reporting process.

 Fully integrating the IGT improvements into the FR process and implementing a solution for 

buy/sell differences.

 Implementing the Budget Deficit Validation process in order to reconcile the budgetary

statements to financial statements in the FR. 

 Implementing an automated tool for the compilation of the FR. 

 Coordinating and implementing process and system modifications identified by the General 

Fund core team to account for activities at the consolidated level and to minimize intragovernmental differences. 

 Updating the Treasury Financial Manual (TFM) and USSGL Accounting Guidance. 
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Description of Performance:

In FY 2013, the Fiscal Service achieved its target of 100 percent timely provision of GWA 

reports. These reports include the DTS, MTS, and Combined Statement. The Fiscal Service

continues to achieve its targets by maintaining the 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 bureau will continue modernization efforts to 

ensure the continued timeliness of these reports and anticipates it will achieve the 100 percent 

target for FY 2014 and FY 2015.

3.1.5 – Government-wide Accounting and Reporting Budget and Performance Plan

Dollars in Thousands

Government-wide Accounting and Reporting Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Enacted Enacted Enacted Enacted Enacted Operating 

Level

Enacted Request

 Appropriated Resources $68,642 $70,547 $71,826 $68,804 $64,374 $63,457 $65,486 $65,486

 Reimbursable Resources $0 $3,179 $1,985 $4,215 $4,215 $3,288 $3,088 $879

Budget Activity Total $68,642 $73,726 $73,811 $73,019 $68,589 $66,745 $68,574 $66,365

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Actual Actual Actual Actual Actual Actual Target Target

Percentage of GovernmentWide Accounting Reports 

Issued Timely 

100.0 100.0 100.0 100.0 99.86 100.0 100.0 100.0

Key: DISC - Discontinued and B – Baseline

3F – Payments

($121,715,000 from direct appropriations, and $62,752,000 from reimbursable resources): 

The Payments Program supports the Treasury’s strategic objective “to improve the disbursement 

and collection of federal funds and reduce improper payments made by the U.S. government.” 

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.

The Payments Program is also responsible for controlling and providing financial integrity to the 

payments process through reconciliation, accounting, and claims activities. The claims activity 

settles claims against the United States resulting from Federal Government checks that have been 

forged, lost, stolen, or destroyed, as well as claims and reclamations for EFT payments. The 

Fiscal Service also collects monies from those parties liable for fraudulent or otherwise improper 

negotiation of government checks.

The activity supports the Paperless Treasury initiative by encouraging recipients to convert to 

electronic payment methods. Electronic payments provide timely, accurate, and efficient 

disbursement of Federal Government payments; eliminate the costs associated with postage and 
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the re-issuance of lost or stolen checks; and help protect against fraud and identity theft. The 

Fiscal Service’s nationwide public education campaign called “Go Direct” was extremely 

successful in encouraging paper check recipients to switch to direct deposit. Through the Go 

Direct public education campaign, more than 22 million paper-based payments were migrated to 

electronic payments. For beneficiaries who prefer a prepaid debit card or those who do not have 

a bank account, the Fiscal Service offers the Direct Express® card, which enables benefit 

payments to be automatically deposited into the recipient’s card account on the payment date. 

The card is currently available to Social Security, Supplemental Security Income, Veterans’ 

Compensation and Pension, Railroad Retirement Board, Office of Personnel Management, and 

Department of Labor benefit recipients. As of November 2013, more than 5.94 million 

beneficiaries have signed up for the Direct Express® card. The combined impact of both 

programs will save millions of dollars to the taxpayer in years to come.

In support of its payments function, the Fiscal Service has also undertaken considerable efforts to 

modernize its payment systems, incorporating new technologies and the internet. Some 

programs that will continue to be in focus are:

 Stored Value Card (SVC): The SVC is aimed at reducing the float loss associated with the 

more than $2 billion in coins, currency, and checks in circulation at military bases in the 

U.S. and overseas, on ships at sea, and at other “closed” government locations around the 

world. SVCs reduce the high costs of securing, transporting, and accounting for cash. The 

program also provides a safe and convenient payment method for our service members. 

Currently, SVCs replace cash and checks at over 100 military bases and installations in 13 

countries (including the U.S.) and on 146 Naval ships. Meeting this global demand 

necessitates the deployment of over 8,700 pieces of equipment including kiosks (cashless 

ATMs), point-of-sale terminals, laptops, and other related peripherals. From 1997 through 

November 2013, over 48.9 million EFT transactions with a dollar value in excess of $6.8 

billion were processed via the SVC programs. In FY 2013 alone, the SVC programs 

processed over 5.6 million EFT transactions with a dollar value over $727 million.

 Invoice Processing Platform (IPP): IPP is a government-wide, secure, web-based electronic 

invoice exchange network connecting Federal agencies and their vendors. IPP enables 

Federal agencies to receive invoices electronically from their vendors, transforming existing 

paper-based invoice processes into a streamlined electronic process that integrates with 

existing agency core financial systems. IPP’s single point of entry allows vendors to 

invoice multiple IPP enrolled agencies either via online or batch invoice submission. 

Vendors can view and receive notification of payments (including debt offsets) associated to 

their invoices via IPP. IPP supports the FIT initiative to develop a standard for electronic 

invoicing government-wide.

 Payment Application Modernization (PAM): The PAM investment supports a critical Fiscal 

Service function, which is the production and delivery of Federal payments. PAM is an 

effort to replace 30+ existing Fiscal Service payment applications generating check, ACH, 

International ACH Transaction (IAT), and wire transfer payments used to disburse over 1 

billion Federal payments on behalf of FPAs, with a single application. Gaps addressed by 
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PAM include: multiple systems written in outdated languages, inability to meet legislative 

and FPA changes/requests quickly, and extensive manual processes.

• Post Payment Systems (PPS) Consolidation: PPS became a new major IT investment in the 

Fiscal Service’s portfolio beginning in October 2013. The Fiscal Service has established, as 

a tactical priority, the consolidation of several post payment systems into a single, 

centralized post payment system. The PPS investment accomplishes this Fiscal Service 

priority, and is aligned with the Treasury strategic objective to improve the disbursement 

and collection of Federal funds and reduce improper payments made by the U.S. 

government. The new PPS investment will consolidate all payment aftermath processing 

into one comprehensive application by merging processing currently performed in five 

legacy systems: Treasury Check Information System; Payments, Claims and Enhanced 

Reconciliation (PACER); Treasury Receivable, Accounting and Collection System; 

Teletrace; and TOP Control System. The consolidation of the Fiscal Service’s post payment 

systems will reduce duplication of functionality, eliminate redundancy of data across 

systems and provide a single source for aftermath payment processing for FPAs. PPS will 

include functionality to process Claims/Adjudications, Cancellations, Check Reconciliation, 

Settlements, Offsets, and Accounting, with Customer Service & Self-Service Applications. 

Legacy post payment systems will be retired through phased implementation of PPS. PPS 

will utilize standardized Common Government-wide Accounting Classification reporting 

structure, and leverage commercial off the shelf software solutions, when appropriate, to 

provide common, best practice functionality and proven implementation methodologies. 

PPS will provide the Fiscal Service and post payment stakeholders with enhanced, 

streamlined business processes and productivity gains that will simplify reconciliation 

activities, improve information exchange, reduce paper-based processes, integrate disparate 

processes, improve fraud detection, and enable self- service functions for Agency and 

Financial Institution (FI) users.

• Payment Information Repository (PIR): The PIR is a payment repository that will support 

the centralization of government payment data and ultimately serve as a back-end to the

Financial Information Repository (FIR). The FIR will allow the Fiscal Service to centrally 

manage financial data collected in other Information Repositories, including but not limited 

to: Payment Information Repository, Collections Information Repository, and Debt 

Information Repository. The PIR will provide reports on payment activity as well as the 

capability to support queries of payment data. The payment information provided through 

the FIR webpage will be available to FPAs and the public.

Description of Performance:

The measure Percentage of Treasury Payments and Associated Information Made Electronically 

supports the Paperless Treasury 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 2013, the Fiscal Service has issued over 97 percent of its benefit payments and over 92.5 

percent of its total payments via EFT. The Fiscal Service expects to achieve its targets in 

FY 2014 and FY 2015 by expanding electronic conversion efforts to additional benefit agencies 

and payment types, such as other vendor miscellaneous payments and IRS refunds.
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3.1.6 – Payments Budget and Performance Plan

Dollars in Thousands

Payments Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Enacted Enacted Enacted Enacted Enacted Operating 

Level

Enacted Request

 Appropriated Resources $145,977 $147,717 $150,395 $141,358 $132,265 $125,570 $126,636 $121,715

 Reimbursable Resources $137,849 $138,584 $129,262 $142,340 $131,060 $102,401 $76,497 $62,752

Budget Activity Total $283,826 $286,301 $279,657 $283,698 $263,325 $227,971 $203,133 $184,467

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Actual Actual Actual Actual Actual Actual Target Target

Percentage of Treasury 

Payments and Associated 

Information Made Electronically 

79.0 81.0 82.0 84.3 88.0 92.5 95.0 95.0

Key: DISC - Discontinued and B – Baseline

3G – Retail Securities Services

($95,237,000 from direct appropriations, and $15,917,000 from reimbursable resources): 

The Retail Securities Services (RSS) Program supports Treasury’s strategic objective “to 

promote savings and increased access to credit and affordable housing options.” The Fiscal 

Service’s RSS program offers simple, safe, and affordable securities that enable Americans to 

save for their future. Products are targeted toward small investors looking to securely build 

savings. The program serves more than 50 million investors by processing more than 15 million 

transactions annually. 

The RSS program continues to examine the saving and investing needs of customers, researching 

the securities and services that will be most appealing to the American public. A new retirement 

savings security (myRA) housed in a Roth IRA account will be operational by FY 2015.

Committed to supporting Treasury's paperless initiative, the RSS program encourages people to 

buy securities, access their accounts, and conduct transactions electronically. A new state-ofthe-art financial services system will allow customers to purchase, reinvest, redeem, transfer, and 

hold securities electronically. Investors will easily be able to learn about retail products and 

services, make informed decisions about buying Treasury securities, and manage their Treasury 

investments efficiently.

Another component of RSS’s support of the Paperless Treasury initiative is its work to end 

issues of paper securities. Having already eliminated annual issues of approximately 20 million 

paper securities, such as savings bonds, via payroll and over-the-counter channels, RSS plans to 

close the remaining paper channels by FY 2016. Finally, over the next two years, the program 

plans to implement two more phases of its Treasury Retail E-Services program that will also 

reduce paper processes within customer service operations.
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Description of Performance:

Several significant changes planned for the RSS program include: implementing a new financial 

services system, eliminating the majority of remaining paper savings bond issues, 

decommissioning several legacy systems, and deploying virtual case files and a customer selfservice portal. These changes will significantly impact the future direction of the program; 

therefore, RSS is currently working to establish new performance measures.

3.1.7 – Retail Securities Services Budget and Performance Plan

Dollars in Thousands

Retail Securities Services Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Enacted Enacted Enacted Enacted Enacted Operating 

Level

Enacted Request

 Appropriated Resources $135,690 $139,109 $139,569 $135,337 $116,260 $110,876 $100,789 $95,237

 Reimbursable Resources $9,066 $16,293 $15,393 $15,393 $17,166 $16,841 $15,917 $15,917

Budget Activity Total $144,756 $155,402 $154,962 $150,730 $133,426 $127,717 $116,706 $111,154

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Actual Actual Actual Actual Actual Actual Target Target

Cost Per TreasuryDirect 

Assisted Transaction ($) 

8.19 8.72 8.23 3.0 4.58 7.3 7.99 7.31

Cost Per TreasuryDirect Online 

Transaction ($) 

4.34 5.21 6.12 3.64 2.26 1.72 1.99 1.34

Increase the Number of 

Customers who buy Treasury 

Retail Securities Electronically

N/A N/A N/A 144,997 301,737 269,180 296,000 365,000

Percentage of Retail Customer 

Service Transactions 

Completed within 5 Business 

Days (%) 

N/A 86.0 92.7 73.1 75.7 74.5 88.0 88.0

Key: DISC - Discontinued and B – Baseline

3H – Summary Debt Accounting

($4,325,000 from direct appropriations, and $748,000 from reimbursable resources): 

The SDA Program supports Treasury’s strategic objective “improve the efficiency and 

transparency of federal financial management and government-wide accounting.” SDA is vital to 

meeting the Fiscal Service's responsibility to account for over $17 trillion of public debt and over 

$415 billion in related interest expenses incurred to finance the operations of the Federal 

Government. SDA coordinates with the Office of Fiscal Projections and GAIS during periods of 

a delay in raising the debt limit to ensure that the outstanding public debt subject to limit does 

not exceed the statutory limit.

SDA 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 reports on the single largest liability in Treasury’s Agency Financial 

Report (AFR) and have received a clean opinion for the past 17 years.
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Description of Performance:

All financial activity related to the public debt of the United States is reported by the SDA 

Program. This is accomplished by collecting and reporting securities-related issue, redemption, 

and interest payment information on a daily basis. 

To improve operational effectiveness, the Fiscal Service completed several efforts to modernize 

the SDA business and system environment. This effort allowed SDA to more quickly respond to 

changes in reporting requirements, responsibilities, and financial information needs. A major 

component in the modernization effort was accomplished on November 18, 2013, with the 

implementation of the Summary Debt Accounting System (SDAS) to replace the Public Debt 

Accounting and Reporting System. 

To transform SDA, the program created a long-term goal of restructuring or eliminating a 

percentage of business processes. In FY 2013, SDA restructured or eliminated 21 percent of its 

processes. However, SDA did not meet the FY 2013 goal due to the implementation delay to a 

shared service environment. The remaining processes are expected to be completed during FY 

2014. 

In addition, SDA relies on cost per transaction to help manage the efficiency of the program. In 

response, the program estimates the cost per SDA transaction to be $17.68 in FY 2014 and 

$17.73 in FY 2015, which is a decrease from the FY 2013 actual cost of $19.86. The decrease

beginning in FY 2014 is a direct result of reduced development costs related to the SDAS

modernization project.

3.1.8 – Summary Debt Accounting Budget and Performance Plan

Dollars in Thousands

Summary Debt Accounting Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Enacted Enacted Enacted Enacted Enacted Operating 

Level

Enacted Request

 Appropriated Resources $7,608 $7,082 $10,266 $9,195 $8,836 $8,443 $4,737 $4,325

 Reimbursable Resources $453 $827 $852 $852 $1,166 $1,153 $748 $748

Budget Activity Total $8,061 $7,909 $11,118 $10,047 $10,002 $9,596 $5,485 $5,073

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Actual Actual Actual Actual Actual Actual Target Target

Cost Per Summary Debt 

Accounting Transaction ($) 

9.11 8.66 11.28 14.8 22.47 19.86 17.68 17.73

Percent of Summary Debt 

Accounting business 

processes restructured or 

eliminated (%) 

N/A N/A 6.0 9.5 6.0 21.4 4.0 N/A

Key: DISC - Discontinued and B – Baseline
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3I – Wholesale Securities Services

($19,009,000 from direct appropriations, and $3,519,000 from reimbursable resources): 

The WSS Program supports Treasury’s strategic objective “to promote savings and increased 

access to credit and affordable housing options.” 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. 

The auction program, an element of the WSS Program, is an essential function for Treasury that 

enables the Federal Government to finance operations. WSS ensures that communications, 

systems, processes, and contingency plans provide for high-level performance and business 

continuity for wholesale auction operations. 

Another major component of this program is the commercial book-entry system, which holds 

approximately $11.5 trillion, or 99 percent, of Treasury marketable securities. Treasury uses this 

system to issue most of its marketable debt, make principal and interest payments, and support 

the active secondary market in Treasury securities. It is estimated that about $1 trillion per day 

in Treasury securities are transferred among account holders in the commercial book-entry 

system. 

Description of Performance:

The Fiscal Service strives to efficiently deliver its debt financing operations, including auctions 

and buybacks, at the lowest possible cost. WSS's Cost per Debt Financing Operation in 

FY 2013 was $141,115, below the targeted cost of $141,930. The cost per debt financing 

operation is estimated at $157,013 in FY 2014 and $167,297 in FY 2015; the increase is 

primarily due to the anticipated migration of the Treasury Automated Auction Processing System 

to a new platform.

The Fiscal Service missed its FY 2013 target of 100 percent for the measure Percent of Auction 

Results Released in Two Minutes +/- 30 Seconds at 99.6 percent. Circumstances for one of the 

year’s 268 auctions required issuing a special clarification announcement. 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 expects to achieve its target in the future.
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3.1.9 – Wholesale Securities Services Budget and Performance Plan

Dollars in Thousands

Wholesale Securities Services Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Enacted Enacted Enacted Enacted Enacted Operating 

Level

Enacted Request

 Appropriated Resources $23,828 $23,438 $24,396 $24,058 $23,120 $22,092 $22,282 $19,009

 Reimbursable Resources $1,302 $2,378 $2,821 $2,821 $3,051 $3,000 $3,519 $3,519

Budget Activity Total $25,130 $25,816 $27,217 $26,879 $26,171 $25,092 $25,801 $22,528

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Actual Actual Actual Actual Actual Actual Target Target

Cost Per Debt Financing 

Operation ($) 

220,732.0 170,214.0 162,378.0 157,284.0 159,449.0 141,115.0 157,013.0 167,297.0

Percent of Auction Results 

Released in Two Minutes +/-

30 Seconds (%) 

100.0 100.0 100.0 100.0 100.0 99.6 100.0 100.0

Key: DISC - Discontinued and B – Baseline
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Section 4 – Supplemental Information

4A – Summary of Capital Investments

The Fiscal Service leads the way for responsible, effective government through commitment to 

cutting-edge technologies, service, efficient operations, sharing of best practices, and openness to 

change in order to meet the operating needs of the Federal Government. The Fiscal Service 

systematically analyzes the demand for its services, considers effective methods for delivery of 

these services, and identifies the broad asset implications through sound governance and 

investment management. 

Effective Investment Governance 

Enterprise architecture reviews ensure alignment of IT investments to bureau strategic plans, the 

strategic enterprise direction of Treasury. The reviews also identify potential duplication of 

systems. The Fiscal Service’s Capital Planning and Investment Control program addresses the 

prioritization of new and existing IT investments, risk management, long-range planning, 

business objectives, alternative analysis and governance. By tracking and reporting the progress 

of each investment and the performance measures achieved, the Fiscal Service ensures its IT 

investment portfolio is well managed, cost effective, and supports strategic goals. 

Effective Project Execution 

Through a disciplined and consistent approach to project management, IT investments are 

closely monitored for cost, schedule, and performance to ensure expected results and benefits are 

achieved. Each IT investment has a dedicated program manager and a fully staffed integrated 

program team. The systems that support each investment are enhanced using Rapid Application 

Development techniques that give the program manager the flexibility to quickly incorporate 

new functionality and improve efficiency across the bureau. 

Enterprise Architecture Services 

Enterprise Architecture Services include business architecture and technical architecture 

services. Business architecture focuses on the strategic capabilities, knowledge, processes, and 

relationships that support the achievement of organizational goals and alignment of strategic 

objectives to meet enterprise business needs. Technical architecture establishes standards and 

patterns for information technology solutions. Technical architecture reviews requirements that 

influence or change the technology supporting the Fiscal Service critical business functions and 

maintains architecture documentation and a Technology Roadmap.

A summary of capital investment resources, including major information technology and nontechnology investments, can be viewed/downloaded at: http://www.treasury.gov/about/budgetperformance/Pages/summary-of-capital-investments.aspx