Philadelphia Financial Center

Background

The Philadelphia Financial Center (PFC) known within the Bureau of the Fiscal Service as the Post Payment Center of Excellence provides exception processing services to over 300 federal agencies. PFCís primary customers are the Social Security Administration (SSA), the Railroad Retirement Board (RRB), the Department of Labor (DOL), the Veterans Administration (VA) and Internal Revenue Service (IRS). PFC is responsible for 100 percent of the post payment processing for Treasury disbursed payments. The disbursement of public monies, via paper check, is split between PFC and its sister site, the Kansas City Financial Center (KFC), which includes shared printing and mailing responsibilities. In addition to the shared services, KFC is responsible for all payment functions.

The work at the Regional Financial Centers evolved from the relatively simple disbursement of handwritten checks into that of a major financial center, issuing payments by electronic funds transfer (EFT) and printing paper checks using high-speed check printers.

PFC plays a significant role in accounting functions with other agencies, as well as with gathering the information presented in the Monthly Treasury Statements.

For over 80 years, PFC has served as one of the nationís disbursing centers responsible for producing a variety of government payments. In 2013, the Center printed and mailed over 23 million benefit, tax, and vendor payments for our federal agency customers.

Starting in 2013 we expanded our area of responsibilities by consolidating all Treasury disbursed post payment activities here at the Center. This includes the processing of all returned payments, reclamations, non-receipt claims, courtesy deposits and the return of these credits to our customers. These vital activities have returned over $13 billion to our federal agency customers.


   Last Updated:  June 23, 2014