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Bulletin No. 2017-12

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Retention: September 30, 2019

To: Heads of Government Departments, Agencies, and Others Concerned

Subject: Agency No-Cash or No-Check Policies

1. Purpose

This Treasury Financial Manual (TFM) bulletin sets forth the policy of the Bureau of the Fiscal Service (Fiscal Service) on agencies adopting a no-cash or a no-check policy. The term “cash” is intended to encompass currency or coin, or both.

2. Authority

This TFM bulletin is issued in accordance with 31 U.S.C. §§ 321, 3302, and 3720.

3. Agency Guidance

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:

  • The agency’s statutory and regulatory authorities;

  • Costs and benefits associated with implementing the policy;

  • Programmatic or economic reasons for adopting the policy;

  • Efficiencies to be gained by adopting the policy; and

  • The anticipated impact of the policy on the agency’s constituents.

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, the Fiscal Service 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.

4. Effective Date

This bulletin is effective immediately.

5. Inquiries and Assistance

Direct inquiries relating to this bulletin or requests for assistance to:

Department of the Treasury
Bureau of the Fiscal Service
Over the Counter Division
3201 Pennsy Drive, Building E
Landover, MD 20785
Telephone: 202-874-6893
Email: Reginald.McKinney@fiscal.treasury.gov

 

September 18, 2017