Collections Federal agencies rely on Fiscal Service guidance and programs to carry out their daily collections tasks. As one of its essential roles for the federal government, Fiscal Service collaborates with agencies to settle millions of collection transactions every day. The majority of this revenue is collected from individual, small business, and corporate taxes. The remainder comes from a variety of sources such as student loans, travel fees, and court fines. Fiscal Service’s goal is to make it easy for agencies to find and understand the guidelines and programs for collection settlement. At a high level, these services include: Providing agency guidelines for the various collection transactions Centralizing funds in the Treasury General Account (the government’s checking account) Managing programs that agencies can utilize for proper collection settlement Ensuring collections are recorded and reported properly in accordance with government-wide requirements Guidance for agencies is provided in four key areas based upon the type of collection and how it has aged. Revenue CollectionsThese activities involve revenue collection transactions received by federal agencies. Fiscal Service provides systems and guidance for agencies to process multiple methods of payments such as Cash, Check, Credit and Debit cards, Automated Clearing House (ACH), Fedwire settlements, and Digital Wallets. Additionally, Fiscal Service enables the collection of associated remittance data.View PageReceivables ManagementThese activities involve non-delinquent debts owed to federal agencies. Fiscal service provides programs that help agencies monitor, pay, and report non-tax collections that individuals, businesses, and states owe.View PageDebt ManagementThese activities involve managing delinquent debt owed to federal agencies. Agencies must transfer this debt to the Fiscal Service Cross-Servicing program within an appropriate amount of time.View PageUnclaimed Federal FundsThese activities involve agency guidelines for federally owned monetary assets that have had no recorded activity for over a year, also known as unclaimed assets. Agencies are responsible for locating, recovering, and accounting for these unclaimed assets as required by Fiscal Service requirements.View Page SVG Image Collections LCV Level1 0