Treasury Financial Manual

Background

ABOUT THE TFM

The TFM includes six volumes. Each volume covers a different subject matter and provides information for a particular audience. FMS uses information from subject matter experts to revise TFM chapters or bulletins. When changes in procedures or policies occur, FMS revises a chapter to reflect this change. However, if the change requires advance notice or is temporary in nature such as interest rate changes, then FMS prepares a bulletin.

THE SIX VOLUMES OF THE TFM

Volume I applies to all federal agencies and contains instructions in the areas of central accounting and reporting, payrolls, deductions and withholdings, disbursing deposit regulations, and other fiscal matters. It consists of six parts as follows:

• Part 1 - Introduction
• Part 2 - Central Accounting and Reporting
• Part 3 - Payrolls, Deductions and Withholdings
• Part 4 - Disbursing
• Part 5 - Deposit Regulations
• Part 6 - Other Fiscal Matters

Volume II applies to Federal Reserve Banks (FRBs) and guides FRBs in the areas of deposit documents, the U.S. Treasury account, federal tax deposits, Treasury tax and loan accounts, letters of credit, Treasury checks, food stamp coupons, FedLine, and other fiscal agency matters. Since Volume II is for use by the Federal Reserve only, it is not available online. Volume II consists of eight parts as follows:

• Part 1 - Introduction
• Part 2 - Processing Deposits to Treasury's General Account
• Part 3 - Federal Tax Deposits and Treasury Tax and Loan Accounts
• Part 4 - Processing Charges to Treasury's General Account
• Part 5 - Reporting Requirements for Treasury's General Account
• Part 6 - Accounting and Reporting for Gold Certificates
• Part 7 - Issuing Treasury Checks
• Part 8 - Other Fiscal Agency Matters

Volume III is reserved for future use.

Volume IV applies to Treasury Tax and Loan depositaries and depositaries for federal taxes and contains instructions for the guidance of institutions that qualify as these depositaries. It consists of one part.

Volume V applies to the 50 United States and District of Columbia domestic depositaries and contains instructions for these depositaries. It consists of one part.

Volume VI applies to depositaries outside the United States (overseas) and United States Territories. It consists of one part.

ARRANGEMENT OF THE TFM

Division of Volumes

The TFM divides volumes into parts, parts into chapters, chapters into sections and sections into paragraphs and subparagraphs. Each volume has a table of contents for the overall volume and one for each part. The first chapter of each volume describes the makeup of the volume.

Page Designations

The TFM identifies pages as follows:

• At the top of each page, by volume number, part and chapter (Vol. IV, 1-1000).
• At the bottom of each page, by transmittal letter number, page number and date (T/L 5, 1, June 2000).

Numbering

The TFM uses the following numbering system to identify material:

       Volume IV
       Part 1
       Chapter 1000
       Section 1015
       Paragraph 1015.30

TYPES AND PURPOSES OF TFM RELEASES

The TFM publishes several types of releases: chapters (often accompanied by appendices), bulletins, announcements and supplements.

Chapters

TFM chapters cover a specific subject. Each chapter contains a summary paragraph explaining its purpose. Chapters update existing procedures or provide new instructions based on changes to systems or applicable laws. Each chapter contains a summary statement explaining its purpose. The first chapter of each volume describes the makeup of that volume, the procedures covered and other included material. Transmittal letters accompany chapter releases.

Transmittal Letters

Sequentially numbered transmittal letters, signed by the Commissioner of Treasury's Financial Management Service (FMS), accompany TFM chapter releases. These letters:

• Release changes or additions to existing chapters and new chapters.
• Summarize the new/revised material.
• Provide instructions for the addition or substitution of material.
• List regulations or published instructions that are superseded or rescinded.

Contacts Page

Each chapter has a Contacts page that lists the office name, address and telephone number for inquiries concerning the included material. The first contact listed always is the office primarily responsible for the chapter. If the chapter contains specific or technical material relating to other areas of responsibility, the Contacts page also lists sources for that information.

When making inquiries about a specific item, TFM users should cite the pertinent volume, chapter and section numbers (for example, IV TFM 1-1020).

Appendices

Appendices often follow TFM chapters. These appendices generally include forms, instructions, regulatory material and other information helpful in implementing chapter procedures.

Bulletins

TFM bulletins generally are no longer than one or two pages and contain material of a one-time or temporary nature. They provide notice of immediately effective changes to instructions or requirements. Bulletins list superseded or rescinded material. They are numbered sequentially by the fiscal year of issue and filed with the volume. Usually, they are codified into a TFM chapter within months.

Bulletins generally bear retention dates of no more than a year. The retention date prescribes the bulletin expiration date. FMS issues a Retention Bulletin at the beginning of each fiscal year. The Retention Bulletin lists the past bulletins that remain in effect beyond their original retention date.

Inquiries

Each bulletin includes an inquiry section. This section provides the address and telephone number of the office that can answer questions about the bulletin. When making inquiries about a specific item, TFM users should cite the pertinent bulletin or chapter number (for example, Bulletin No. 2000-01 or IV TFM 1-1020).

Announcements

TFM announcements are only a few paragraphs in length and provide a point of contact. They convey information covering a temporary period of time or of an emergency nature. Readers use announcements as guidelines for one-time events, such as procedures to be used during a Government shutdown or dates for reporting requirements. Announcements generally are not codified into a TFM chapter.

Supplements

TFM supplements provide detailed instructions, worksheets and guidelines for financial reporting and accounting procedures. Supplements are not widely distributed. FMS may send small numbers of printed supplements to specific interested parties but, because of printing costs, does not widely distribute them. However, FMS does make the full text of these supplements available online.