[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: 31CFR206.10]



[Page 45]

 

                  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.  206.10  Operation of and payments from the Cash Management Improvements Fund.



    (a) The Cash Management Improvements Fund (Fund) will be operated as 

a revolving fund by the Service. Charges assessed under Sec.  206.9(a) 

for cash management collection noncompliance will be deposited into the 

Fund according to the Deficit Reduction Act of 1984. The Service will 

also disburse any payments from the Fund based on projects selected by a 

project selection and approval committee.

    (b) Committee composition. The committee will consist of three 

members--two permanent members and one temporary member. The permanent 

members will be the Commissioner and the Assistant Commissioner, Federal 

Finance, of the Service. The temporary committee member will be a cash 

management official from an agency other than an agency being considered 

for funds. The order of agency assignment to the Committee will be 

published in a TFM Bulletin, when funds are first deposited to the Fund. 

Decisions of the project selection and approval committee cannot be 

appealed. Agencies will be notified of any available amounts in the Fund 

and requirements to apply for such monies through a TFM bulletin.

    (c) As provided by 31 U.S.C. 3720, sums in the Fund will be 

available without fiscal year limitation for the payment of expenses 

incurred in developing improved methods of collection and deposit and 

the expenses incurred in carrying out collections and deposits using 

such methods, including the costs of personal services and the costs of 

the lease or purchase of equipment and operating facilities.

    (d) In addition to all reports required by law and regulation, for 

each fiscal year during which there is a balance in Fund, the Service 

will prepare and publish, by the 60th day following the close of the 

fiscal year, a full report on payments, receipts, disbursements, 

balances of the Fund, and full disclosure on projects financed by the 

Fund.