[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: 31CFR206.10]

[Page 45]
 
                  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. 206.10  Operation of and payments from the Cash Management Improvements Fund.

    (a) The Cash Management Improvements Fund (Fund) will be operated as 
a revolving fund by the Service. Charges assessed under Sec. 206.9(a) 
for cash management collection noncompliance will be deposited into the 
Fund according to the Deficit Reduction Act of 1984. The Service will 
also disburse any payments from the Fund based on projects selected by a 
project selection and approval committee.
    (b) Committee composition. The committee will consist of three 
members--two permanent members and one temporary member. The permanent 
members will be the Commissioner and the Assistant Commissioner, Federal 
Finance, of the Service. The temporary committee member will be a cash 
management official from an agency other than an agency being considered 
for funds. The order of agency assignment to the Committee will be 
published in a TFM Bulletin, when funds are first deposited to the Fund. 
Decisions of the project selection and approval committee cannot be 
appealed. Agencies will be notified of any available amounts in the Fund 
and requirements to apply for such monies through a TFM bulletin.
    (c) As provided by 31 U.S.C. 3720, sums in the Fund will be 
available without fiscal year limitation for the payment of expenses 
incurred in developing improved methods of collection and deposit and 
the expenses incurred in carrying out collections and deposits using 
such methods, including the costs of personal services and the costs of 
the lease or purchase of equipment and operating facilities.
    (d) In addition to all reports required by law and regulation, for 
each fiscal year during which there is a balance in Fund, the Service 
will prepare and publish, by the 60th day following the close of the 
fiscal year, a full report on payments, receipts, disbursements, 
balances of the Fund, and full disclosure on projects financed by the 
Fund.