[Code of Federal Regulations]

[Title 31, Volume 2]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR206.1]



[Page 39-40]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY

 

PART 206_MANAGEMENT OF FEDERAL AGENCY RECEIPTS, DISBURSEMENTS, AND OPERATION OF THE CASH MANAGEMENT IMPROVEMENTS FUND--Table of Contents

 

Sec.  206.1  Scope and application.









Sec.

206.1 Scope and application.

206.2 Definitions.

206.3 Billing policy and procedures.

206.4 Collection and payment mechanisms.



[[Page 40]]



206.5 Collection and deposit procedure exceptions.

206.6 Cash management planning and review.

206.7 Compliance.

206.8 Appeals.

206.9 Charges.

206.10 Operation of and payments from the Cash Management Improvements 

          Fund.



    Authority: 5 U.S.C. 301; 31 U.S.C. 321, 3301, 3302, 3321, 3327, 

3328, 3332, 3335, 3720, and 6503.



    Source: 59 FR 4538, Jan. 31, 1994, unless otherwise noted.





    (a) This subpart applies to all Government departments and agencies 

in the executive branch (except the Tennessee Valley Authority) and all 

monies collected and disbursed by these departments and agencies. This 

subpart does not apply to interagency transfers of funds, except that 

agencies are to use the Treasury's On-Line Payment and Collection (OPAC) 

system for interagency payments between executive agencies, when cost-

effective.

    (b) Policies and guidelines are prescribed for promoting efficient, 

effective cash management through improved billing, collection, deposit, 

and payment of funds. These objectives seek to improve funds 

availability and the efficiency and effectiveness with which funds are 

transferred.

    (c) Authority to implement this regulation has been delegated within 

the Department of the Treasury (hereinafter, ``Treasury'') to the 

Commissioner (hereinafter, ``the Commissioner'') of the Financial 

Management Service (hereinafter, ``the Service).'' The Service maintains 

the final authority as granted under the Deficit Reduction Act of 1984 

to specify use of a particular method or mechanism of collection and 

deposit and to recover costs that result from noncompliance. Authority 

is also granted to the Service, under the Cash Management Improvement 

Act of 1990, as amended by the Cash Management Improvement Act 

Amendments of 1992, to provide for the timely disbursement of funds. An 

agency will require the collection or disbursement of funds by the 

agency via EFT as a provision of new contractual agreements or renewal 

of existing contracts that impact agency collection or payment 

mechanisms.