The Bureau of the Fiscal Service (Fiscal Service) is a bureau of the
U.S. Department of the Treasury
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and ...
. The Fiscal Service replaced the
Bureau of the Public Debt and the
Financial Management Service
The Financial Management Service (or FMS) was a bureau of the United States Department of the Treasury and provided several financial services for the federal government. On October 7, 2012, Secretary of the Treasury Timothy Geithner issued a dire ...
effective October 7, 2012 by directive of
Treasury Secretary Timothy Geithner
Timothy Franz Geithner (; born August 18, 1961) is a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013. He was the President of the Federal Reserve Bank ...
.
The Bureau manages the government's accounting, central payment systems, and
public debt.
Among some of its better known duties is to collect any voluntary donations made to the government for reduction of the public debt. The amount of such reductions has hovered around two million dollars per year, and have been widely variable.
By comparison, the annual compounding interest on US government debt in the year 2022 has been projected to be about $305B, making it some 152500 times greater than the amount of voluntary donations to the treasury.
See also
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Title 31 of the Code of Federal Regulations
*
TreasuryDirect
*
United States Treasury security
United States Treasury securities, also called Treasuries or Treasurys, are government debt instruments issued by the United States Department of the Treasury to finance government spending as an alternative to taxation. Since 2012, U.S. go ...
References
External links
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*
Treasury Order 136-01, which created the Fiscal Service
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United States Department of the Treasury agencies