What is the purpose of the Cash Management Improvement Act (CMIA)?

The purpose of the Cash Management Improvement Act (CMIA) is to enhance the efficiency of federal cash management. This legislation was enacted to establish an improved framework for the management of cash disbursements and revenues by federal agencies. It aims to ensure that federal funds are managed in a way that optimizes the use of cash resources, promotes timely payments, and reduces the cost of managing funds.

By creating a set of requirements and guidelines, the CMIA encourages federal agencies to adopt best practices in cash management, which helps in improving overall financial management and accountability. This is particularly important as it directly impacts the federal government's ability to manage taxpayer dollars effectively.

The other options do not align with the primary focus of the CMIA. While facilitating better cash flow for businesses is a worthwhile aspect of cash management in general, that is not the specific aim of this Act. Similarly, while regulating bank fees on cash transactions and improving currency handling at ATMs are relevant financial topics, they do not relate to the CMIA's core purpose of enhancing federal cash management efficiency.