Government

What does the do?

Updates published annually

The Bureau of the Fiscal Service (BFS, Fiscal Service) is a subdivision of the US Department of the Treasury responsible for managing the government's accounting, central payment systems, and public debt. The agency ensures the effective and efficient management of federal finances by providing accurate and timely financial information, promoting the use of electronic financial services, and overseeing the issuance of government securities. It was established in 2012.

In FY 2024,

$16.1B

was spent by the Bureau of the Fiscal Service
In FY 2024,

1.2%

of Dept. of the Treasury spending was by the Bureau of the Fiscal Service

How much does the Bureau of the Fiscal Service spend?

The Bureau of the Fiscal Service spent a net total of $16.1 billion in fiscal year (FY) 2024. This was 1.2% of the $1.32 trillion spent by the Department of the Treasury, which itself was 19.5% of all federal spending. The BFS ranked second among TREAS subdivisions in net spending.
Net spending is the difference between agency spending and any financial accounts generating funds from the agency’s own activities, like fees or rent. When these funds offset all spending, net spending appears negative. Some agencies tend to operate with positive net spending while others will register negative net spending sometimes or often.

The Bureau of the Fiscal Service ranked second among Department of the Treasury divisions in net spending in 2024.

TREAS net spending by division, FY 2024

Like the overall federal budget, agency spending may shift over time due to population growth, changes in policy and programs, and emerging problems to address. Adjusting for inflation, the Bureau of the Fiscal Service’s federal spending has decreased from $26.3 billion in 2012 to $16.1 billion in 2024.

The Bureau of the Fiscal Service’s federal spending in FY 2024 was lower than in FY 2012.

Yearly federal net spending by BFS, adjusted for inflation (2024 dollars), FYs 2012–2024

Since 2012, the Bureau of the Fiscal Service's spending has decreased 38.7%, while overall spending has increased 39.5%.
As a percentage of the overall federal budget, a positive number means agency net spending made up some positive share of total federal spending; a negative number means that net generated funds offset a portion of total spending. BFS spending grew less than overall federal spending since 2012, which means that its share of the federal budget decreased. In 2024, BFS accounted for 0.2% of overall federal spending.

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Major legislation, internal or global economic conditions, and acute events like the COVID-19 pandemic can affect spending year to year. For example, the federal budget fluctuated during the pandemic, rising from $5.3 trillion (in 2023 dollars) in 2019 to $7.7 trillion in 2020 and $7.8 trillion in 2021.

The Bureau of the Fiscal Service’s share of federal spending in FY 2024 was lower than in FY 2012.

Net spending by BFS as a share of federal spending, FYs 2012–2024

Most federal spending can be categorized as direct or indirect. Direct spending refers to money the federal government spends on budget items such as federal programs, employee salaries, and debt interest. Indirect spending refers to federal transfers to state and local governments.
In FY 2024, the Bureau of the Fiscal Service transferred 0.3% of its total spending to states and local governments.
The chart below outlines all net BFS spending.

How did the Bureau of the Fiscal Service spend its budget in 2024?

Federal government net spending isolated to BFS, FY 2024

How many people work for the Bureau of the Fiscal Service?

Who leads the Bureau of the Fiscal Service?

The Bureau of the Fiscal Service is led by the Commissioner of the Fiscal Service. This individual is appointed by the Secretary of the Treasury. The Commissioner reports to the Under Secretary for Domestic Finance. The term length for the Commissioner is not fixed and can vary based on the needs of the Treasury Department.

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Methodology

USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.

Page sources

USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.

  • Office of Personnel Management

    FedScope

  • Office of Management and Budget and US Department of the Treasury

    Budget of the US Government and Monthly Treasury Statement

    Office of Management and Budget and US Department of the Treasury logo