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Fiscal agent. A fiscal agent, fiscal sponsor, or financial agent is a proxy that manages fiscal matters on behalf of another party. A fiscal agent may assist in the redemption of bonds or coupons at maturity, disbursing dividends, and handling tax issues. For example, the United States Federal Reserve is the fiscal agent of the federal ...
The United States fiscal cliff refers to the combined effect of several previously-enacted laws that came into effect simultaneously in January 2013, increasing taxes and decreasing spending. The Bush tax cuts of 2001 and 2003, which had been extended for two years by the 2010 Tax Relief Act, were scheduled to expire on December 31, 2012.
Fiscal sponsorship can enable projects to share a common administrative platform with a larger organization, thus increasing efficiency. In addition to legal status, sponsors can provide payroll, employee benefits, office space, publicity, fundraising assistance, and training services, sparing projects the necessity of developing these resources and allowing them to focus on programmatic ...
Office of Fiscal Service. The Office of Fiscal Service (OFS) is an agency of the United States federal government in the United States Department of the Treasury. The office is led by the Fiscal Assistant Secretary of the Treasury. The Fiscal Assistant Secretary reports to the United States Secretary of the Treasury through the Under Secretary ...
Enormously complex by its very nature, there are currently 152 departments and approximately 14,000 end users using the system, processing $421 billion in expenditures in the fiscal year 2021-2022. The State Treasurer’s Office system functionality handled in excess of $3.1 trillion in state government banking transactions in fiscal year 2021 ...
Custody Transfer in the oil and gas industry refers to the transactions involving transporting physical substance from one operator to another. This includes the transferring of raw and refined petroleum between tanks and railway tank cars; onto ships, and other transactions. Custody transfer in fluid measurement is defined as a metering point ...
An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its owners or shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholders.
The Bureau of the Fiscal Service (Fiscal Service) is a bureau of the U.S. Department of the Treasury. The Fiscal Service replaced the Bureau of the Public Debt and the Financial Management Service effective October 7, 2012, by directive of Treasury Secretary Timothy Geithner. [2] The merger of the two agencies and their data centers saved $415 ...