National Finance Center – An US Initiative
National Finance Center is a part of Department of Agriculture, United States that used to provide necessary system and support facility to nearly 140 federal organisations of US State Government.
This center also does extend its helping hand for all the issues related to payroll process – be it implementation or integration or support service.
There are separate segments of this Finance Center in the form of Help Desk Support like for Operations & Security, Employee HR related, Payroll Processing, Time & Attendance related and of course, on Financial Management Services.
National Finance Center was established in the year 1973 at New Orleans, United States and is a part of United States Department of Agriculture’s office of the Chief Financial Officer.
In fact, it is instrumental in providing a good number of jobs to US people. Basically, there is a Federal Civil Service concept in United States which appoints people in executive, judicial and legislative branches and there are a huge number of such employees in the United States.
The fact is this center actually provides jobs to federal employees at New Orleans.
And as a matter of appreciation, it was awarded FMMI Hosting, a Financial Management Modernization Initiative.
How It Works?
National Finance Center works in various platforms like integrated payroll and personnel system as well as on the Direct Premium Remittance System (DPRS) which is mainly used for collecting health insurance premium and billing of the same also.
Another important aspect of this Finance Center is that, for the office of personnel management (OPM), NFC operates the CLER system. CLER stands for Centralized Enrolment Clearinghouse System that is responsible for reconciling various records between federal employee health benefit providers and federal payroll offices in the United States.
Basically, it is nothing but a shared service center designated to work under office of personnel management.
This business initiative is been in the line of Human Resource – starting from recruitment to wage day calculation. In fact, the HR system of this center follows covers personal action processing, payroll segment along with other operational services in the HR category including recruitment and designation of the employee.
Functions of This Center
As per the functions of the National Finance Center is concerned, they have already issued the Annual Pay Raise Bulletin that contains all the information about the Federal pay increase and the related processing for the year 2015.
Even NFC provides a Tax Formula page for the latest Federal Income Tax withholding formula as well as a bulletin on the same having detailed information for the calendar year 2015 containing all sorts of information regarding the submission of internal revenue service, employee withholding allowance certificate etc.
The guideline also specifies what are the things employees has to claim regarding total exemption for the year 2015 and also what will be the tax payment options regarding the same.
National Finance Center, in this way provides the support and structure regarding all those employee related segments and always in betterment process. Constant research & development process used to carry on and a huge number of employees get benefited out of that.