The Bureau of the Fiscal Service (Fiscal Service) was established on October 7, 2012, with the consolidation of two Treasury Department bureaus: the Bureau of the Public Debt (BPD) and the Financial Management Service (FMS).
BPD financed government operations, accounted for the resulting public debt, and provided financial and administrative services to federal agencies. FMS supplied central payments and collections and deposit services for the federal government and prepared the financial statements of the federal government.
By combining these responsibilities, the Bureau of the Fiscal Service transforms the way the federal government manages its financial services. The Fiscal Service delivers inter-agency administrative services with more efficiency, transparency, and accountability than ever before.