Legal Definitions - Financial Management Service

The Financial Management Service (FMS) is a department within the United States Department of the Treasury. Its primary responsibility is to develop and manage systems for moving the U.S. government's cash by assisting other agencies in collecting and disbursing funds. Additionally, FMS collects and publishes financial information and collects delinquent debts.

For example, if a person owes money to the government, FMS would be responsible for collecting that debt. FMS also helps other government agencies manage their finances by providing them with tools and resources to collect and disburse funds efficiently.

Another example of FMS's work is the collection and publication of financial information. FMS collects data on the government's financial activities and publishes reports on its website for public access. This information helps people understand how the government is spending its money and where it is coming from.

In summary, the Financial Management Service is a crucial department within the U.S. Treasury that manages the government's cash flow, collects debts, and provides financial information to the public.