[Federal Register Volume 71, Number 201 (Wednesday, October 18, 2006)]
[Notices]
[Page 61539]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 06-8751]


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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.

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SUMMARY: Pursuant to Section 11 of the Debt Collection Act of 1982, as 
amended, (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 4.00 percent for calendar year 2007.

DATES: The rate will be in effect for the period beginning on January 
1, 2007, and ending on December 31, 2007.

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 2007 
reflects the average investment rates for the 12-month period that 
ended September 30, 2006.

    Dated: October 12, 2006.
Gary Grippo,
Assistant Commissioner, Federal Finance.
[FR Doc. 06-8751 Filed 10-17-06; 8:45 am]
BILLING CODE 4810-35-M