Financial Management Service - FMS Law and Legal Definition

The Financial Management Service - FMS is a bureau of the U.S. Department of the Treasury that offers several financial services for the federal government. FMS provides services to federal agencies, operates the federal government's collections and deposit systems, provides governmentwide accounting and reporting services and manages the collection of delinquent debt owed to the government. Financial Management Service is operated through a total of 2,100 employees placed in its headquarters offices in Washington, DC and Hyattsville, MD. It has five regional centers in Austin, Birmingham, Kansas City, Philadelphia and San Francisco. Formerly, Financial Management Service was known as the Bureau of Government Financial Operations.