[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: 31CFR206.7]

[Page 43-44]
 
                  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. 206.7  Compliance.

    (a) The Service will monitor agency cash management performance. 
Part of the monitoring process will include establishing implementation 
end dates for conversion to, or expansion of, EFT mechanisms, as well as 
the identification of mitigating circumstances that may prevent the use 
of EFT.
    (b) In cases where an agency fails to meet a scheduled date within 
its control, or where an agency converts to a less cost-effective 
transfer mechanism without prior, written Service approval as determined 
in accordance with Sec. 206.4(c), the Service will send a formal Notice 
of Deficiency to an agency's designated cash management official. A 
separate Notice will be sent for each initiative.
    (1) Collections cash flows. For collections cash flows, the Notice 
of Deficiency will include the nature of the deficiency, the amount of 
the proposed charge, the method of calculation, the right to file an 
appeal, and the date the charge will be imposed in the absence

[[Page 44]]

of an appeal. The amount of the charge will be equal to the cost of such 
noncompliance to the Treasury's General Fund.
    (2) Payments cash flows. [Reserved]