The Fiscal Service's mission is to develop policy for and operate the financial infrastructure of the Federal government, including payments, collections, cash management, financing, central accounting, and delinquent debt collection.
OFAS provides policy oversight of the Fiscal Service bureaus and develops policy on payments, collections, debt financing operations, electronic commerce, government wide accounting, government investment fund management, and other issues. The office also performs two mission critical functions for the Department: It manages the daily cash position of the government and it produces the cash and debt forecasts used to determine the size and timing of the government's financing operations. In addition, the office represents the Secretary on the Federal Accounting Standards Advisory Board (FASAB), Joint Financial Management Improvement Program (JFMIP), and the Library of Congress and National Archives Trust Fund Boards, is a statutory member of the government wide Chief Financial Officers Council, and serves as liaison to the Federal Reserve system in its capacity as Treasury's fiscal agent)