The Office of Fiscal Service helps formulate policy and develop systems for the collection, disbursement, management and security of public monies in the United States and abroad, and related government-wide accounting and reporting for those funds. Programs of interest in the Fiscal Service are cash and debt management and forecasting, accounting policy, and the Bureau of the Fiscal Service. The Fiscal Assistant Secretary leads this office.
Fiscal Operations and Policy
The Office of Fiscal Operations and Policy, led by the Deputy Assistant Secretary oversees the development and implementation of policies relating to the government's cash management, operations, investment and administration of trust funds, payments, collections, and debt collections.
The Secretary of the Treasury has the long-standing authority to designate financial institutions to provide services on behalf of Treasury. Designated financial agents that support Departmental Office programs are managed by the Office of Financial Agents (OFA), a business unit within Fiscal Operations & Policy. Information on financial agents supporting Departmental Office programs:
- Report on financial agent expenses related to Departmental Offices programs
- Financial agents engaged in support of the Office of Financial Stability
- Financial agents engaged in support of the Cares Act
Accounting Policy & Financial Transparency
The Office of Accounting Policy and Financial Transparency, led by the Deputy Assistant Secretary, promotes improvements in government-wide financial management including the adoption of innovative technology and efforts to increase the use of data. The Office leads Treasury’s execution of the Digital Accountability and Transparency Act (DATA Act) including oversight of USAspending.gov and the production of the Financial Report of the U.S. Government, including the online resource “Your Guide to America’s Finances”. The Office sets policies for government-wide accounting and data standards for financial reporting and represents Treasury at the Federal Accounting Standards Advisory Board. The Office also supports efforts to modernize financial systems across government to provide more standardized solutions and adoption of best practices.