[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR206.1]

[Page 40]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 206--MANAGEMENT OF FEDERAL AGENCY RECEIPTS, DISBURSEMENTS, AND OPERATION OF THE CASH MANAGEMENT IMPROVEMENTS FUND--Table of Contents
 
Sec. 206.1  Scope and application.

    (a) This subpart applies to all Government departments and agencies 
in the executive branch (except the Tennessee Valley Authority) and all 
monies collected and disbursed by these departments and agencies. This 
subpart does not apply to interagency transfers of funds, except that 
agencies are to use the Treasury's On-Line Payment and Collection (OPAC) 
system for interagency payments between executive agencies, when cost-
effective.
    (b) Policies and guidelines are prescribed for promoting efficient, 
effective cash management through improved billing, collection, deposit, 
and payment of funds. These objectives seek to improve funds 
availability and the efficiency and effectiveness with which funds are 
transferred.
    (c) Authority to implement this regulation has been delegated within 
the Department of the Treasury (hereinafter, ``Treasury'') to the 
Commissioner (hereinafter, ``the Commissioner'') of the Financial 
Management Service (hereinafter, ``the Service).'' The Service maintains 
the final authority as granted under the Deficit Reduction Act of 1984 
to specify use of a particular method or mechanism of collection and 
deposit and to recover costs that result from noncompliance. Authority 
is also granted to the Service, under the Cash Management Improvement 
Act of 1990, as amended by the Cash Management Improvement Act 
Amendments of 1992, to provide for the timely disbursement of funds. An 
agency will require the collection or disbursement of funds by the 
agency via EFT as a provision of new contractual agreements or renewal 
of existing contracts that impact agency collection or payment 
mechanisms.