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Treasury Department Letter to Members of Congress Regarding Payment Systems

Excerpt:  “The Treasury Department’s Bureau of the Fiscal Service (Fiscal Service) operates vital payment systems for the federal government, and those systems should promote financial integrity and operational efficiency. The Fiscal Service disburses nearly 90 percent of all federal payments, in over 1.2 billion transactions per year. Treasury is committed to ensuring that the Fiscal Service is functioning in a manner consistent with the highest levels of efficiency and in accordance with the expectations of taxpayers to prevent waste, fraud and abuse. Treasury has no higher obligation than managing the government’s finances on behalf of the American people, and its payments system is critical to that process. In keeping with that mission, Treasury is committed to safeguarding the integrity and security of the system, given the implications of any compromise or disruption to the U.S. economy. The Fiscal Service is confident those protections are robust and effective. Therefore, expanding on efforts that began under the prior Administration, Treasury has been undergoing a review of these systems to maximize payment integrity for agencies and the public. Importantly, the ongoing review of Treasury’s systems is not resulting in the suspension or rejection of any payment instructions submitted to Treasury by other federal agencies across the government. In particular, the review at the Fiscal Service has not caused payments for obligations such as Social Security and Medicare to be delayed or re-routed.”