Financial Services
Financial Management Service The Financial Management Service (FMS) provides a full range of financial reporting and accounting services that meet strict federal financial management system requirements and applicable federal accounting and transaction standards. FMS uses the Unified Financial Management System (UFMS), an online, real-time application that accepts both manual and electronic input. UFMS enables customers to perform accounting edits and validations and produces accounting transactions for general and subsidiary ledgers. Services offered include: - Accounting for all costs, obligations, disbursements, advances, receivables, and expense and revenue accruals
- Administrative control of funds
- Online reports from which data can be accessed via the Web and downloaded to an Excel spreadsheet for local use
- Extensive online query capabilities
- Assistance with financial problem solving and program design
Offered to: HHS Performance: 90% of accounting events will be recorded within two (2) business days of receipt of electronic transactions and within three (3) business days of receipt of valid hardcopy documents. 100% of the time, FMS will close the fiscal year within 15 days of year end. 99% of eligible disbursements will be issued electronically. 95% of invoices will be paid on time. Rate: By allocation Contact: 301-443-4378; matthew.zakielarz@psc.hhs.gov Top of Page
Financial Management Service The Division of Cost Allocation (DCA) provides negotiation services for indirect cost rate proposals and cost allocation plans. For more than 40 years, DCA has reviewed cost allocation methods and practices of entities that receive federal funds, helping to ensure that indirect costs paid by the federal government are fair, equitable, and in accordance with federal regulations. Services offered include: - Review and negotiation of indirect cost rates for colleges and universities, hospitals, non-profit organizations, and state agencies
- Review and negotiation of statewide cost allocation plans and public assistance cost allocation plans, fringe benefit rates, research patient care rates, and special rates
- Resolution of audit findings on cost allocation plans and indirect cost rates
- Provision of technical assistance and guidance on matters relevant to cost allocation methods affecting grant programs through personal contact or through DCA’s Web site
- Provision of recommendations on improving grantee accounting systems to support cost allocations
- Provision of operational assistance in developing government-wide and department-wide accounting policies, procedures, and regulations
Offered to: All federal agencies Performance: 85% of cost rate proposals (colleges and universities, non-profit organizations, hospitals, and state and local departments) will be reviewed and negotiated within 180 days of receipt. 85% of statewide and public assistance cost allocation plans will be reviewed and negotiated within 360 days of receipt. 100% of facilities and administrative (indirect) cost proposals for first-time grant recipients will be reviewed within 90 days of receipt. 95% of first-time grantees will have at least a 5% rate reduction in their proposed facilities and administrative (indirect) cost rate. Rate: $116.63 per hour Contact: 202-401-0215; darryl.mayes@psc.hhs.gov Top of Page
Financial Management Service PSC is a Treasury-designated Debt Collection Center providing a full range of state-of-the-art debt management and collection services that cover virtually all types of receivables. Services offered include: - Accounting support
- Administrative wage garnishment
- Credit bureau reporting
- Credit card processing
- Custom letters, account statements, and billing statements
- Lockbox facilities
- Paper check conversion deposits
- Referrals:
- Delinquent accounts to commercial debt collection agencies
- Debts to the Department of Justice (DOJ) for enforced collection
- Debts to the Treasury Offset Program (TOP) for administrative offset
- Debts to Treasury for cross-servicing
- Medicare and Medicaid participation exclusion
- Reporting – Regulatory and ad hoc
- Internal Revenue Service (IRS) 1099C and 1098E reporting
Offered to: HHS Performance: 95% of delinquent debts will be referred to TOP within 180 days of the date of delinquency (assumes proper due diligence). 95% of eligible health profession debts will be referred to the Office of the Inspector General for exclusion from participation in Medicare within 60 days of request from DOJ. 100% of Form 1099Cs will be issued to eligible health profession debtors, and the debt written off will be reported to the IRS by the due date. 95% of all collections will be deposited with Treasury within one (1) business day of receipt. 100% of all Quarterly Treasury Reports on Receivables, for all Operating Divisions (OpDivs), are prepared accurately and transmitted to the Treasury within one (1) business day, as required. Rate: $247.46 per hour Contact: 301-443-9237; don.pooton@psc.hhs.gov Top of Page
Financial Management Service The Financial Management Service (FMS) provides a full range of financial reporting and accounting services that meet strict federal financial management system requirements and applicable federal accounting and transaction standards. FMS is able to assure its customer agencies that all federal financial management system requirements and applicable federal accounting and transaction standards are met. The Unified Financial Management System (UFMS), an online, real-time application, accepts both manual and electronic input, performs accounting edits and validations, and produces accounting transactions for the general ledger and subsidiary ledgers in order to carry out the primary goal of analyzing and reporting accounting data. Major tasks include preparation and distribution of financial reports for FMS management, the Department of the Treasury, and the Office of Management and Budget (OMB) on behalf of PSC and its customers, as well as preparation of the audited financial statements including financial statement notes and supplemental information. Services offered include: - Financial reporting responsibilities include the production of reports including Federal Agencies’ Centralized Trial-Balance System 1 (FACTS I), FACTS II, and SF-224
- Maintains a repository of information on all legal, regulatory, and process requirements for preparation of auditable financial statements that meet applicable professional accounting standards
- Provides training and guidance to customer organizations to help assure that financial records fully support the preparation and audit of financial statements
- Provides support, liaison, reports, and responses required during performance of audits by private accounting firms, the OMB, Congressional Committees, and internal auditors
- Assists auditors in obtaining all documents and records selected for examination
- Coordinates the collection of selected data from customer agencies
- Coordinates preparation of responses to observations and recommendations by audit agencies
- Tracks and ensures completion of all program actions required to comply with accepted audit findings and recommendations
- Maintains systematic, easily retrievable records on all audit activity
- Upon request, performs pre- or post-audit program reviews covering efficiency, effectiveness, and compliance with applicable financial and management standards
Offered to: HHS Performance: 100% of the time, will prepare audit-quality annual financial statements within agreed-upon time frames. 100% of financial reports will be submitted within the Department of the Treasury/OMB published deadlines after the end of the covered period (e.g., monthly, quarterly, and yearly). Reduce findings and maintain the annual clean opinion. Rate: Weighted level of effort Contact: 301-443-0870; scott.brna@psc.hhs.gov Top of Page
Financial Management Service The Division of Payment Management (DPM) provides grant and grant-like payments, cash management, and grant accounting support services to federal agencies processing approximately 75% of civilian grant payments made by the federal government – over $380 billion annually. DPM uses a custom-developed Payment Management System (PMS), one of only two civilian grant payment systems approved by the Chief Financial Officers Council. The PMS provides awarding agencies and grant recipients the tools to manage grant payment requests, drawdowns, and disbursement reporting activities. Awarding agencies may designate the level of oversight to be provided for a specific grantee’s payment requests. Services offered include: - Self-serve or monitored grant draw requests
- Next-day payments through the Treasury Automated Clearing House
- Same-day payments for emergencies or special circumstances
- Foreign payments (deposited to U.S. bank accounts)
- Cash management services that support the Cash Management Improvement Act
- Professional grant accounting support services
- PMS Web access:
- Drawdown requests
- Disbursement reporting (Federal Financial Report)
- Payment and disbursement report monitoring
- Reports and queries
- News and information
- Contacts, addresses, and telephone numbers
- Personalized account liaison services
- Help Desk support
- Payment Management Services training
- Collection services on overdrawn grants, disallowed costs, and excess interest
- Audit support (SAS-70 and requests for information)
Offered to: All federal agencies Performance: 99% of grant payment requests will be processed, and funds deposited in the recipient’s account, by the next business day. 99% of the time, management reports will be available to customers within five (5) days of month end. 100% of new grantees will be registered within four (4) business days. 95% of calls and/or emails received by the liaison staff will be returned within three (3) hours. 100% of calls to the PMS Help Desk that are received by 5:00 p.m. Eastern Time will be answered by the end of the business day. 100% of the time, the PMS is available between 5:00 a.m. and 11:00 p.m. Monday through Friday, and between 9:00 a.m. and 9:00 p.m. on Saturday and Sunday excluding federal holidays. 100% of email and voice mail received by the PMS Help Desk will be responded to within one (1) business day. Rate: $68.31 per Type 2 document Contact: 301-443-2012; helio.chaves@psc.hhs.gov
Related Information: http://www.dpm.psc.gov Top of Page
Financial Management Service Payroll Accounting Services maintains the Accounting for Pay System (AFPS) interface, which provides a complete payroll accounting solution. AFPS gives customers online capability to manage payroll costs at the Common Accounting Number (CAN) level and the ability to change the distribution of costs as necessary. Services offered include: - Payroll reconciliation
- Systematic interface for payroll accounting information needed to account for disbursements, obligations, and accruals for personnel costs
- Collection and disbursement of payroll items such as income taxes and unemployment benefits
- Reporting of payroll items to the Department of the Treasury, states, the Internal Revenue Service, and the Department of Labor
- Preparation of SF-224, the monthly Statement of Transaction, and a variety of payroll and annual departmental pension reports
Offered to: All federal agencies Performance: 95% of the time, payroll SF-224 information will be submitted to the Department of the Treasury within three (3) business days of the following month. 95% of the time, payroll name list and cost summary reports will be produced within five (5) business days of receipt of payroll data. 95% of payroll errors will be corrected within the quarter. Rate: $44.39 per leave and earnings statement Contact: 301-443-4378; matthew.zakielarz@psc.hhs.gov Top of Page |
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