Department of the Treasury

Reducing discounts lost

establish a policy that all agencies must take payment discounts offered that are advantageous to the Federal Government. The current Department of Treasury/Financial Management Service policy is that taking advantageous discounts is optional. While many departments and agencies within the executive branch may have a practice of taking advantageous discounts, the Department of Homeland Security does not require this practice. Given the very low interest rates, virtually all discounts offered are advantageous in the current environment and, with the size of the Homeland Security budget, significant savings could be realized with very little or no additional cost incurred.

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Idea No. 626