Background

• What Is ASAP?
• How Does ASAP Work?
• A Closer Look
• Federal Agencies Using ASAP
• Customer Service
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WHAT IS ASAP?

ASAP is an all-electronic payment and information system developed jointly by the Financial Management Service (FMS) and the Federal Reserve Bank of Richmond. The latter, in its capacity as Treasury's fiscal agent, operates the system. ASAP is a system through which grantee organizations receiving Federal funds can draw from accounts pre-authorized by Federal Agencies. ASAP is also being used to make timely payments to financial agents that are performing financial services for FMS and other Federal Agencies.

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HOW DOES ASAP WORK?

In short, ASAP operates as follows: Federal Agencies and organizations receiving Federal funds enroll one time to use ASAP. Federal Agencies establish and maintain accounts in ASAP to control the flow of funds to organizations. Federal Agencies enter spending authorizations into their ASAP accounts in accordance with their program needs and schedules. Payment Requestors at organizations initiate payment requests through ASAP to meet cash needs. This is done primarily through on-line connections that organizations have with ASAP. In a case where a financial institution is acting as an agent of the organization, a request for funds can be made via the Federal Reserve's FEDWIRE system. Approved requests for next day or future day (up to 32 calendar days from the date of the payment request) payments are paid via the Automated Clearing House (ACH) system, or by FEDWIRE if same day payment is required.

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A CLOSER LOOK

Federal Agencies can establish ASAP accounts for Recipient Organizations via on-line or batch processes. Once an ASAP account is established, the Federal Agency can enter authorizations to increase or decrease the available balance of its ASAP accounts at its own discretion.

Both on-line and batch-processed authorizations can be effective as of the current processing day, or they can be effective up to a year in advance, in which case the authorization is warehoused until its effective date. Authorization transactions, once certified, immediately update the system. Federal Agencies are able to perform ASAP account and authorization functions on-line from 8:00 a.m. until 9:00 p.m. Eastern Time each business day. Federal Agencies can initiate batch processes for ASAP account and authorization activity 24 hours a day.

Recipient Organizations can use on-line processes to request payments. Recipient Organizations are able to initiate same day payment requests and receive the payment within minutes from 8:00 a.m. to 5:45 p.m. Eastern Time each business day. Recipient Organizations are able to initiate payment requests for an ACH payment from 8:00 a.m. to 11:59 p.m. Eastern Time.

Payment requests are approved or rejected automatically, unless placed on Agency Review by the FPA or based on the amount of available funds in the ASAP account. The available balance for an ASAP account is displayed when initiating the payment request. Recipient Organizations will receive immediate notification of approval or rejection for all on-line payment requests with the exception of those subject to Agency Review.

The ASAP system also provides Recipient Organizations with a book entry feature to make adjustments between accounts without having to initiate a payment request. Recipient Organizations are also able to return funds to an ASAP account via the FEDWIRE and ACH payment systems.

Federal Agencies and Recipient Organizations can view relevant data on-line, such as up-to-the-minute account balances, account history, and the status of payment requests affecting their ASAP accounts. Federal Agencies also receive daily reports relating to the ASAP accounts under their authority.

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Federal Agencies Using ASAP

ASAP was implemented in August, 1995. Since then, there has been a gradual increase in the number of Federal Agencies using the ASAP system. Federal Agencies using ASAP include:

Federal Agencies using ASAP to make payments to financial agents that are performing financial services include:

• Denali Commission
• Department of Agriculture, Food and Nutrition Service
• Department of Commerce
• Economic Development Administration
• National Institute of Standards and Technology
• National Oceanic and Atmospheric Administration
• Department of Energy
• Department of Interior
• Bureau of Indian Affairs
• Bureau of Land Management
• Bureau of Reclamations
• Office of Surface Mining
• Department of Justice, Office of Justice Programs
• Department of the Treasury
• Bureau of Public Debt
• Comptroller of the Currency
• Financial Management Service
• Environmental Protection Agency
• Library of Congress
• National Science Foundation
• Social Security Administration

To enroll in ASAP the Federal Program Agency(s) will be responsible for contacting FMS prior to submitting any forms. The FPA's servicing Regional Financial Center will instruct them on the appropriate forms needed.

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Customer Service

The Financial Management Service, through its ASAP Customer Support team within the Regional Financial Centers (RFCs), processes Federal Agency and Recipient Organization enrollments for the system, oversees the training of new users, assists users in resolving problems, and performs general system .

The Federal Reserve Bank of Richmond is responsible for operational support for the system. FRB Operational Support includes daily system operations, communications, security, and system maintenance.