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The Future of Federal Financial Management

2022 Annual Fiscal Service Letter to Chief Financial Officers

Shaping the Future

Dear Colleagues,

As we all know, federal operations face a future of fast-emerging challenges and opportunities. The President’s Management Agenda (PMA) is the roadmap for ensuring an equitable, effective, and accountable federal government that delivers results for all. To support the PMA, evidence-based decision-making is serving as a catalyst to drive business transformation. And a focus on the customer experience is leading to a reimagination of how we deliver our programs and services.

For many federal programs, efficient and effective financial management is key to how these results are delivered. At Fiscal, we’ve aligned our FY 2022–2026 Strategic Plan with the PMA, Treasury’s strategic plan, and the Future of Federal Financial Management 10-year vision to achieve results in four areas: operations, data, customer experience, and our workforce.

Our plan calls for transformative change—modern and innovative financial management operations that are more resilient to withstand the multiple threats of cyberattacks, fraud, and climate change; more accurate, accessible, and valuable data that provide insights for government decision-makers and the public; and a customer experience that meets expectations for seamless service. All of this will be delivered by a high-performing workforce who represent the customers we serve.

I am pleased to report that we have made progress on the thirteen goals I communicated to you last year, and we are on track to achieve one of them this fiscal year: the creation of a marketplace of commercial and federal providers offering standards-based solutions. This year, we are adding one new goal related to digital collecting.

This letter conveys the FY 2023 and beyond goals we established in our journey toward achieving our vision for the future. I hope you will take a moment to share them with your colleagues and to please join Fiscal in the journey to shape the future of federal financial management.

Commissioner Tim Gribben signature
Tim Gribben
Bureau of the Fiscal Service

Download this four-page PDF of the 2022 Annual Fiscal Service Letter to Chief Financial Officers.


Financial Management Vision Goals


Electronic Disbursing

By leveraging innovative, alternative payment options, deliver 99% of eligible Treasury-disbursed payments electronically by 2030.

Preventing Improper Payments

Offer the capability to stop improper payments prior to disbursement in accordance with legal authorities by 2026.


Electronic Collecting

Reduce paper volume processed through the General Lockbox Network by 25% by 2024

Convert 25% of Treasury General Account Network transactions from cash and check bank deposits to electronic by 2025.

Increase the adoption of eCommerce digital solutions across federal agencies by 12% by 2025.


Strengthen Financial Accuracy

Reduce buy/sell intragovernmental differences by 90% by 2023.

Reduce Agency Reporting Burden

Streamline and improve the current financial reporting and audit processes for federal agencies by 2025.

Modern, Useful Data

Migrate 70 Fiscal Service datasets from legacy formats and locations to Treasury’s Fiscal Data by FY 2024.

Build and deploy enterprise data solutions that improve our performance, reduce costs, and deliver what the financial management community needs to advance data-driven decision making by 2025.


Improve Federal Financial Management Efficiency

Through the use of shared financial management systems, generate more than $600 million in cost avoidance by 2023.

Expand Adoption of Services

Increase the number of agency subcomponents using common financial management solutions by 25% by 2025.


Modern Securities Experience

Improve the retail customer experience by enabling customers to purchase, manage, and redeem their Treasury security holdings through one platform by 2025.

Previous Annual Fiscal Service Letters to Chief Financial Officers

Each year, the Fiscal Service establishes clear, quantifiable goals. We share these goals with the federal financial management community through the Annual Letter to Chief Financial Officers. When goals are met, we set new ones as we continue to move forward to achieve the vision of the future of federal financial management. See our previous letters here:

Moving Forward
Annual Fiscal Service Letter to Chief Financial Officers

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A vision for the future of federal financial management
Annual Fiscal Service Letter to Chief Financial Officers

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12 initiatives for disbursing, collecting, reporting, and expanding services
Annual Fiscal Service Letter to Chief Financial Officers

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Ten initiatives for disbursing, collecting, reporting, and expanding services
Annual Fiscal Service Letter to Chief Financial Officers

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Last modified 05/25/23