TFM Bulletin Page
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This Treasury Financial Manual (TFM) bulletin sets forth the Financial Management Service’s (FMS’s) policy on agencies adopting a no-cash or a no-check policy. The term “cash” is intended to encompass currency or coin, or both.
This TFM bulletin is issued in accordance with 31 U.S.C. §§ 321, 3302, and 3720.
Agencies may decide not to accept payments made in cash or by check. Before adopting a no-cash or a no-check policy, an agency should make a determination that the policy will be more beneficial than not to the operation of the program generating the payments. Factors that an agency should take into account when making its determination include:
If, after examining these factors, an agency determines that it is more beneficial than not to adopt a no-cash or a no-check policy, FMS considers such a decision to be consistent with Treasury’s move to an all-electronic Treasury as well as the purposes of Federal cash-management statutes.
This bulletin is effective immediately.
Direct inquiries relating to this bulletin or requests for assistance to:
Over the Counter Revenue Collection Division
Financial Management Service
U.S. Department of the Treasury
401 14th Street, SW., Room 527
Washington, D.C. 20227
David A. Lebryk
Date: August 17, 2011