[Federal Register Volume 69, Number 211 (Tuesday, November 2, 2004)]
[Notices]
[Pages 63569-63570]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-24495]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Notice of Rate for Use in Federal Debt Collection and Discount 
and Rebate Evaluation

AGENCY: Financial Management Service, Fiscal Service, Treasury.

ACTION: Notice of rate for use in Federal debt collection and discount 
and rebate evaluation.

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SUMMARY: Pursuant to Section 11 of the Debt Collection Act of 1982, as 
amended

[[Page 63570]]

(31 U.S.C. 3717), the Secretary of the Treasury is responsible for 
computing and publishing the percentage rate to be used in assessing 
interest charges for outstanding debts owed to the Government. 
Treasury's Cash Management Requirements (1 TFM 6-8000) prescribe use of 
this rate by agencies as a comparison point in evaluating the cost-
effectiveness of a cash discount. In addition, 5 CFR 1315.8 of the 
Prompt Payment rule on ``Rebates'' requires that this rate be used in 
determining when agencies should pay purchase card invoices when the 
card issuer offers a rebate. Notice is hereby given that the applicable 
rate is 1.00 percent for calendar year 2005.

DATES: The rate will be in effect for the period beginning on January 
1, 2005, and ending on December 31, 2005.

FOR FURTHER INFORMATION CONTACT: Inquiries should be directed to the 
Agency Enterprise Solutions Division, Financial Management Service, 
Department of the Treasury, 401 14th Street, SW., Washington, DC 20227 
(telephone: (202) 874-6650).

SUPPLEMENTARY INFORMATION: The rate reflects the current value of funds 
to the Treasury for use in connection with Federal Cash Management 
systems and is based on investment rates set for purposes of Pub. L. 
95-147, 91 Stat. 1227. Computed each year by averaging Treasury Tax and 
Loan (TT&L) investment rates for the 12-month period ending every 
September 30, rounded to the nearest whole percentage, for 
applicability effective each January 1, the rate is subject to 
quarterly revisions if the annual average, on a moving basis, changes 
by 2 percentage points. The rate in effect for the calendar year 2005 
reflects the average investment rates for the 12-month period that 
ended September 30, 2004.

    Dated: October 28, 2004.
Gary Grippo,
Assistant Commissioner, Federal Finance.
[FR Doc. 04-24495 Filed 10-29-04; 11:40 am]
BILLING CODE 4810-35-P