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About Us
Bureau of the Fiscal Service Overview
At the Bureau of the Fiscal Service, we collect revenue, delinquent debt, and disburse funds to millions of Americans ensuring their timely receipt of benefit payments. Our easy-to-set-up direct deposit programs streamline the government benefit payment process.
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Video about Fiscal Service
 Mission
Promote the financial integrity and operational efficiency of the federal government through exceptional accounting, financing, collections, payments, and shared services.Vision
Transform financial management and the delivery of shared services in the federal government.Values
We are guided by our commitment to integrity, collaboration, accountability, learning, and excellence in our dealings with each other and with those we support and serve.
What we do...
Accounting
Centrally managing the U.S. government's financial assets and liabilities through governmentwide accounting and reporting.
Payments
Centrally disbursing, collecting, and facilitating federal payments through modern, digital systems and services.
Financing
Meeting the financing needs of the government at the lowest cost over time by issuing debt to investors in the form of Treasury securities.
Debt and Receivables Servicing
Offering an integrated portfolio of debt and receivables servicing solutions that strengthen operational efficiency in federal and state agencies.
Financial Management Solutions
Providing mission-centric financial management systems, services, and solutions that streamline processes, enable strategic decision-making, and improve program performance.
Financial Integrity
Delivering innovative, data-driven solutions that prevent fraud and reduce improper payments across federally funded and state administered programs.
... We Do Well.
 
Data Through FY 2025
Payments To
Collected nearly $6.3 trillion in federal revenue.
Increased the percentage of Fully Electronic (initiated and settled electronically) revenue collection transactions to 88.8%.
Collected $5.23 billion in delinquent debt. Over $4.74 billion was collected through the Treasury Offset Program (TOP) and $481.60 million was collected through the Cross- Servicing program.
Payments From
Centrally disbursed 88.10% of all federal payments.
Securely disbursed nearly 1.33 billion payments, totaling $6.02 trillion, at an electronic rate of 96.96%. Payments were made 100% on time.
The Office of Payment Integrity identified 44,338 potential improper payments valued at $189.6 million, prevented 1.2 million potential improper payments valued at $10.3 billion, and recovered 50,870 improper payments valued at $1.2 billion.
Financing
Conducted 445 auctions and awarded $30.15 trillion in Treasury marketable securities to fund critical government operations and activities fiscal year to date.
Issued $182.63 billion in Treasury retail securities, redeemed $499.80 billion in Treasury securities, and made $187.84 billion in retail payments.
Made $4.32 billion in Judgment Fund payments.
Accounting
Accounted for and reported the $37.60 trillion public debt.
Managed an average daily cash flow of $295.40 billion.
Issued 100% of government-wide accounting reports on time, including Daily Treasury Statements and Monthly Treasury Statements.
Total number of users at USAspending.gov was 4,001,860.
Financial Management Solutions
Provided competitively priced information technology and administrative services (financial management, human resource, travel, and procurement) to 89 federal agencies as part of the Treasury Franchise Fund.
Processed $122.40 billion of invoices through the Invoice Processing Platform (IPP).
Collected over $266 million and processed 946,647 cases through the Centralized Receivables Service.
Our People
Image
Joseph Gioeli,  Commissioner (Acting)
Joseph (Joe) Gioeli III was named by Secretary of the Treasury Scott Bessent as the Acting Commissioner of the Bureau of the Fiscal Service (BFS) on April 30, 2026.
Joe is a results-driven leader who oversees and governs the administration of BFS programs and services and is a key enabler in strengthening the defenses and resiliency of the U.S. financial critical infrastructure. He has extensive experience in managing federal resources, leading executives and staff, and protecting the American taxpayer.
Joe joined BFS in 2017 and previously served as the BFS Deputy Commissioner/Chief Operating Officer – where he bridged strategy and operations to ensure the bureau’s vision was translated into effective day-to-day execution across all program areas – and served as the BFS Chief Information Officer (CIO) until 2023.
Prior to joining BFS, Joe worked across the Treasury Department at the Internal Revenue Service and U.S. Mint in the technology and cybersecurity space. In 2023 he received a Presidential Rank Award for Meritorious Executive.Other Executive Management
Joseph Gioeli, Chief Operating Officer
Lillian Cheng, Chief Counsel
Linda Chero, Associate Commissioner, Business Operations
Cait Gehring, Associate Commissioner, Debt Servicing and Financial Solutions
Amanda Kupfner, Chief Administrative Officer
Dan Berger, Chief Financial Officer
Nate Reboja, Chief Information Officer
Erica Gaddy, Assistant Commissioner, Accounting
Tannura Elie, Assistant Commissioner, Payments
David Copenhaver, Assistant Commissioner, Financing
Glenn Flowers, Assistant Commissioner, Governmentwide Solutions
Anna Mourad, Assistant Commissioner, Financial Management Shares Services
Our History
Right before World War II, in 1939, President Franklin Roosevelt began a reorganization of the executive department. The president consolidated all Treasury financing activities into a "Fiscal Service" under the direction of a fiscal assistant secretary.
These activities included accounts, deposits, bookkeeping, warrants, loans, currency, disbursements, surety bonds, savings bonds, and the public debt.
By 1940, the Fiscal Service consisted of the Bureau of Accounts, the Bureau of the Public Debt, and the Office of the Treasurer—all under the direction of the fiscal assistant secretary.
A 1974 reorganization of the Fiscal Service created the Bureau of Government Financial Operations, which consolidated most of the functions of the Office of the Treasurer.
In 1984, the Bureau of Government Financial Operations was renamed the Financial Management Service (FMS). The new name reflected Treasury’s aim to achieve greater efficiency and economy in government financial management.
During this time, the Bureau of the Public Debt (BPD) continued to track, account for, and manage the various elements of the public debt structure first established by George Washington’s Secretary of the Treasury, Alexander Hamilton.
On October 7, 2012, Treasury Secretary, Timothy Geithner issued Treasury Order 136-01 creating the Bureau of the Fiscal Service, consolidating the operations of the Bureau of the Public Debt and the Financial Management Service.
Last Updated: May 12, 2026
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