Kansas City Financial Center

Background

The work of the Kansas City Regional Financial Center (KFC) has evolved from the relatively simple disbursement of handwritten checks into a major financial center that issues payments by electronic funds transfer (EFT) and telecommunications using sophisticated software systems, such as Secure Payment System (SPS), high-speed check printers, and enclosing equipment. KFC processes foreign currency payments and preauthorized debit (PAD) collections, and offers a wide range of financial management services for customers, both in and outside of the federal government.

What we do

• Disburse for the Executive, Legislative, and Judicial Branches of the Government.
  
  
• Annually disburse over 251 million items totaling $262 billion dollars.
  
  
• Annually collect over $3.7 billion dollars.
  
  
• Provide payment/collection services to over 325 federal agencies worldwide.
  
  
• Disburse 32 percent of Social Security benefit payments.
  
  
• Disburse 53 percent of Supplemental Security Income check payments.
  
  
• Disburse 100 percent of Supplemental Security Income Electronic Funds Transfer (EFT) payments.
  
  
• Disburse 63 percent of federal salary payments.
  
  
• Process all foreign currency payments on behalf of Treasury disbursed agencies.
  
  
• Develop, test, and implement cash/financial management products and services.
  
  
• Provide training and education of cash/financial management and accounting products and services.
  
  
• Implement and monitor cash/credit management, debt collection and accounting programs for federal agencies.
  
  
• Serve as a financial consultant and advisor to federal, state and local governments; the financial community; and the Federal Reserve System to ensure that FMS initiatives are carried out in practical, efficient and effective manner.