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New Assistant Commissioner for Federal Finance Drives Collections Change
The new Assistant Commissioner for Federal Finance, Sheryl Morrow, shares her drive to change FMS collections with the Collections and Cash Management Modernization (CCMM) initiative. Discussing two of its key programs: the Over the Counter Channel Application and the Transaction Reporting System, Morrow explains how the implementation of new CCMM programs will have a far reaching impact on federal agency collection processes.
[more]
Despite Recent Market Woes, IMD Continues to Invest Successfully
The Investment Management Division of Federal Finance assists the Office of the Fiscal Assistant Secretary (OFAS) with implementing Treasury’s strategic investment Objectives. Learn how two primary investment tools that IMD oversees: the Term Investment Option (TIO) program and the Reverse Repurchase (Repo) are investing successfully in today’s market. [more]
IRS Partners with OTC on Insolvency and Tax Payments
With a major focus on streamlining the government’s collections process, the Over the Counter Revenue Collection Division (OTCD) provided an innovative, value-added solution to support the Internal Revenue Service (IRS) in converting centralized insolvency payments and misdirected tax payments recently. [more]
ECP Sends Production Data to TRS
A major milestone for FMS’s Enterprise Data Architecture Team was realized as the Electronic Check Processing (ECP) application began sending production data to the new Transaction Reporting System (TRS) in 2008. [more]
EFTPS Strengthens Online Protocol
The Electronic Federal Tax Payment System (EFTPS) has now changed format requirements for taxpayer’s passwords who use EFTPS.gov.
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TOP Call Center Gears Up for Busiest Season
The Treasury Offset Program (TOP) Call Center, which receives 3.4 million calls annually, regarding delinquent debts owed to federal and state agencies is gearing up for what it expects to be its busiest season ever.
[more]
Upcoming FMS Events
Collections and Cash Management Modernization (CCMM) Forums
The Collections and Cash Management Modernization (CCMM) Agency Forum will provide federal agencies with the latest
information on upcoming changes to FMS's revenue collection and transaction reporting programs.
[more]
Debt Collection Training for Federal Program Agencies
Financial Management Service (FMS), Debt Management Services (DMS) sponsors workshops and conferences for Federal Program Agencies on all aspects of the Debt Collection Improvement Act. Their 2008 training schedule includes training on Debt Collection 101 (DC101) and the Treasury Report on Receivables (TROR). [more]
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