TFM Bulletin Page

Bulletin No. 2011-09
Volume I

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Retention: August 31, 2012

To: Heads of Government Departments, Agencies, and Others Concerned

Subject: Agency No-Cash or No-Check Policies

1. Purpose

This Treasury Financial Manual (TFM) bulletin sets forth the Financial Management Service’s (FMS’s) policy on agencies adopting a no-cash or a no-check policy. The term “cash” is intended to encompass currency or coin, or both.

2. Authority

This TFM bulletin is issued in accordance with 31 U.S.C. §§ 321, 3302, and 3720.

3. Agency Guidance

Agencies may decide not to accept payments made in cash or by check. Before adopting a no-cash or a no-check policy, an agency should make a determination that the policy will be more beneficial than not to the operation of the program generating the payments. Factors that an agency should take into account when making its determination include:

• The agency’s statutory and regulatory authorities;
  
  
• Costs and benefits associated with implementing the policy;
  
  
• Programmatic or economic reasons for adopting the policy;
  
  
• Efficiencies to be gained by adopting the policy;
  
  AND
  
  
• The anticipated impact of the policy on the agency’s constituents.

If, after examining these factors, an agency determines that it is more beneficial than not to adopt a no-cash or a no-check policy, FMS considers such a decision to be consistent with Treasury’s move to an all-electronic Treasury as well as the purposes of Federal cash-management statutes.

4. Effective Date

This bulletin is effective immediately.

5. Inquiries and Assistance

Direct inquiries relating to this bulletin or requests for assistance to:

Over the Counter Revenue Collection Division
Federal Finance
Financial Management Service
U.S. Department of the Treasury
401 14th Street, SW., Room 527
Washington, D.C. 20227
Telephone: 202-874-0011
Email: david.metler@fms.treas.gov

David A. Lebryk
Commissioner
Date: August 17, 2011