DEPARTMENT OF THE TREASURY

Departmental Offices

Federal Funds

salaries and expenses

(including transfers of funds)

For necessary expenses of the Departmental Offices including operation and maintenance of the Treasury Building and Annex; hire of passenger motor vehicles; maintenance, repairs, and improvements of, and purchase of commercial insurance policies for, real properties leased or owned overseas, when necessary for the performance of official business, [$304,888,000, of which not to exceed $21,983,000 is for executive direction program activities; not to exceed $47,249,000 is for economic policies and programs activities, including $1,000,000 that shall be transferred to the National Academy of Sciences for a study by the Board on Mathematical Sciences and Their Applications on the long-term economic effects of the aging population in the United States, to remain available until September 30, 2011, and $1,500,000 that shall be transferred to the National Academy of Sciences for a carbon audit of the tax code as authorized in section 117 of the Energy Improvement and Extension Act of 2008 (Public Law 110-343), to remain available until September 30, 2011; not to exceed $48,580,000 is for financial policies and programs activities; not to exceed $64,611,000 is for terrorism and financial intelligence activities; not to exceed $22,679,000 is for Treasury-wide management policies and programs activities; and not to exceed $99,786,000 is for administration programs activities: Provided, That the Secretary of the Treasury is authorized to transfer funds appropriated for any program activity of the Departmental Offices to any other program activity of the Departmental Offices upon notification to the House and Senate Committees on Appropriations: Provided further, That no appropriation for any program activity shall be increased or decreased by more than 4 percent by all such transfers: Provided further, That any change in funding greater than 4 percent shall be submitted for approval to the House and Senate Committees on Appropriations] $346,401,000: Provided [further], That notwithstanding any other provision of law, of the amount appropriated under this heading, up to $1,000,000, may be contributed to the Global Forum on Transparency and Exchange of Information for Tax Purposes, a Part II Program of the Organziation for Economic Cooperation and Development, to cover the cost assessed by that organization for Treasury's participation therein: Provided further, That of the amount appropriated under this heading, not to exceed $3,000,000, to remain available until September 30, [2011] 2012, is for information technology modernization requirements; not to exceed $200,000 is for official reception and representation expenses; $400,000 is to support increased international representation commitments of the Secretary; and not to exceed $258,000 is for unforeseen emergencies of a confidential nature, to be allocated and expended under the direction of the Secretary of the Treasury and to be accounted for solely on his certificate: Provided further, That of the amount appropriated under this heading, $6,787,000, to remain available until September 30, [2011] 2012, is for the Treasury-wide Financial Statement Audit and Internal Control Program, of which such amounts as may be necessary may be transferred to accounts of the Department's offices and bureaus to conduct audits: Provided further, That this transfer authority shall be in addition to any other provided in this Act: Provided further, That of the amount appropriated under this heading, $500,000, to remain available until September 30, [2011] 2012, is for secure space requirements: Provided further, That of the amount appropriated under this heading, $1,100,000 to remain available until September 30, 2012, is for salary and benefits for hiring of personnel whose work will require completion of a security clearance investigation in order to perform highly classified work to further the activities of the Office of Terrorism and Financial Intelligence: Provided further, That of the amount appropriated under this heading, up to $3,400,000, to remain available until September 30, [2012] 2013, is to develop and implement programs within the Office of Critical Infrastructure Protection and Compliance Policy, including entering into cooperative agreements: Provided further, That of the amount appropriated under this heading, $3,000,000, to remain available until September 30, [2012] 2013, is for modernizing the Office of Debt Management's information technology. (Department of the Treasury Appropriations Act, 2010.)

Program and Financing (in millions of dollars)


Identification code 20-0101-0-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Economic policies and programs 43 47 71
00.02 Financial policies and programs 31 49 90
00.03 Terrorism and Financial Intelligence 60 64 103
00.04 Treasury-wide management policies and programs 17 16 36
00.05 Treasury-wide financial statement audit 5 7 7
00.07 Executive Direction 21 22 39
00.08 Administration programs activities 94 100



01.00 Subtotal, Direct programs 271 305 346
09.11 Reimbursable program 52 34 34



09.99 Subtotal, reimbursable program 52 34 34



10.00 Total new obligations 323 339 380

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 6 11 11
22.00 New budget authority (gross) 331 339 380



23.90 Total budgetary resources available for obligation 337 350 391
23.95 Total new obligations -323 -339 -380
23.98 Unobligated balance expiring or withdrawn -3



24.40 Unobligated balance carried forward, end of year 11 11 11

New budget authority (gross), detail:
Discretionary:
40.00 Appropriation 279 305 346
Spending authority from offsetting collections:
58.00 Offsetting collections (cash) 32 34 34
58.10 Change in uncollected customer payments from Federal sources (unexpired) 20



58.90 Spending authority from offsetting collections (total discretionary) 52 34 34



70.00 Total new budget authority (gross) 331 339 380

Change in obligated balances:
72.40 Obligated balance, start of year 56 64 43
73.10 Total new obligations 323 339 380
73.20 Total outlays (gross) -290 -355 -369
73.40 Adjustments in expired accounts (net) -9 -5 -5
74.00 Change in uncollected customer payments from Federal sources (unexpired) -20
74.10 Change in uncollected customer payments from Federal sources (expired) 4



74.40 Obligated balance, end of year 64 43 49

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 245 300 335
86.93 Outlays from discretionary balances 45 55 34



87.00 Total outlays (gross) 290 355 369

Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash) from: Federal sources -36 -34 -34
Against gross budget authority only:
88.95 Change in uncollected customer payments from Federal sources (unexpired) -20
88.96 Portion of offsetting collections (cash) credited to expired accounts 4

Net budget authority and outlays:
89.00 Budget authority 279 305 346
90.00 Outlays 254 321 335

Memorandum (non-add) entries:
92.01 Total investments, start of year: Federal securities: Par value
92.02 Total investments, end of year: Federal securities: Par value

Departmental Offices, as the headquarters bureau for the Department of the Treasury, provides leadership to the Department through the promotion of policies geared toward developing a strong and stable economy. Through effective management and leadership, the Departmental Offices develops and implements strategies to promote the stability of the nation's financial markets, ensure the integrity of the financial system, and enhance the government's ability to collect revenue, and serves as a world leader for best practices in the area of counterterrorist financing and anti-money laundering.

The Budget provides new resources to expand the analytic capacity of the Offices of Domestic Finance, Tax Policy, and Economic Policy so that Treasury can more effectively identify and address emerging economic challenges. The additional resources also support implementation of Financial Regulation Reform initiatives, including the launch of the Office of National Insurance and the Financial Services Oversight Council, which will improve supervision and regulation of financial institutions and markets. In addition, the Budget will allow Treasury to improve economic modeling capabilities; strengthen critical financial intelligence functions; and support rigorous evaluation of key Department programs. It also devotes resources to advance international economic and financial policy objectives, including closing tax havens overseas by participating in the Global Tax Forum, and encouraging sound international economic policies by hosting a number of additional multilateral meetings leading up to the G-7, G-20, and APEC conferences. Finally, the Budget provides resources to improve procurement activities and for the continued administration of the American Recovery and Reinvestment Act of 2009.

Object Classification (in millions of dollars)


Identification code 20-0101-0-1-803 2009 actual 2010 est. 2011 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 123 149 155
11.3 Other than full-time permanent 3
11.5 Other personnel compensation 1
11.8 Special personal services payments 1



11.9 Total personnel compensation 123 149 160
12.1 Civilian personnel benefits 31 29 40
21.0 Travel and transportation of persons 5 5 10
23.1 Rental payments to GSA 4 5 4
23.3 Communications, utilities, and miscellaneous charges 14 15 9
24.0 Printing and reproduction 3 3 3
25.1 Advisory and assistance services 42 45 51
25.2 Other services 19 21 21
25.3 Other purchases of goods and services from Government accounts 22 25 27
25.4 Operation and maintenance of facilities 1 1 1
25.7 Operation and maintenance of equipment 1 1 3
26.0 Supplies and materials 4 3 11
31.0 Equipment 2 3 6



99.0 Direct obligations 271 305 346
99.0 Reimbursable obligations 52 34 34



99.9 Total new obligations 323 339 380

Employment Summary


Identification code 20-0101-0-1-803 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 1,089 1,266 1,342
Reimbursable:
2001 Civilian full-time equivalent employment 124 137 137

department-wide systems and capital investments programs

(including transfer of funds)

For development and acquisition of automatic data processing equipment, software, and services for the Department of the Treasury, [$9,544,000] $22,000,000, to remain available until September 30, [2012] 2013: Provided, [That $4,544,000 is for repairs to the Treasury Annex Building: Provided further,] That these funds shall be transferred to accounts and in amounts as necessary to satisfy the requirements of the Department's offices, bureaus, and other organizations: Provided further, That this transfer authority shall be in addition to any other transfer authority provided in this Act[: Provided further, That none of the funds appropriated under this heading shall be used to support or supplement "Internal Revenue Service, Operations Support'' or "Internal Revenue Service, Business Systems Modernization'']. (Department of the Treasury Appropriations Act, 2010.)

Program and Financing (in millions of dollars)


Identification code 20-0115-0-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct program activity 10 30 22



10.00 Total new obligations 10 30 22

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 12 30 10
22.00 New budget authority (gross) 27 10 22
22.10 Resources available from recoveries of prior year obligations 1



23.90 Total budgetary resources available for obligation 40 40 32
23.95 Total new obligations -10 -30 -22



24.40 Unobligated balance carried forward, end of year 30 10 10

New budget authority (gross), detail:
Discretionary:
40.00 Appropriation 27 10 22

Change in obligated balances:
72.40 Obligated balance, start of year 18 11 24
73.10 Total new obligations 10 30 22
73.20 Total outlays (gross) -16 -17 -20
73.45 Recoveries of prior year obligations -1



74.40 Obligated balance, end of year 11 24 26

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 1 5 10
86.93 Outlays from discretionary balances 15 12 10



87.00 Total outlays (gross) 16 17 20

Net budget authority and outlays:
89.00 Budget authority 27 10 22
90.00 Outlays 16 17 20

This account is authorized to be used by or on behalf of Treasury bureaus, at the Secretary's discretion, to modernize business processes and increase efficiency through technology and infrastructure investments. The 2011 Budget provides funds to continue the department-wide implementation of the Enterprise Content Management (ECM) program and to begin the implementation of the Federal Financial Transformation program.

The ECM program will modernize Treasury's document-based business processes by allowing bureaus to electronically capture, store, search/analyze, and share documents from internal and external customers, including citizens, corporations, intelligence, law enforcement, and financial communities.

The Federal Financial Transformation program will develop government-wide solutions that automate manual financial transaction processing and report production activities performed at Federal agencies. By automating the capture of financial information, these centrally-managed solutions will generate efficiencies across the Federal Government, as well as make financial information available to the public earlier.

Object Classification (in millions of dollars)


Identification code 20-0115-0-1-803 2009 actual 2010 est. 2011 est.

Direct obligations:
25.1 Advisory and assistance services 3
25.2 Other services 3 21 11
25.3 Other purchases of goods and services from Government accounts 3
32.0 Land and structures 1 9 11



99.9 Total new obligations 10 30 22

Office of Inspector General

For necessary expenses of the Office of Inspector General in carrying out the provisions of the Inspector General Act of 1978, as amended, $30,269,000, of which not to exceed $2,000,000 for official travel expenses, including hire of passenger motor vehicles; and of which not to exceed $100,000 for unforeseen emergencies of a confidential nature, to be allocated and expended under the direction of the Inspector General of the Treasury[, $29,700,000, of which not to exceed $2,500 shall be available for official reception and representation expenses]. (Department of the Treasury Appropriations Act, 2010.)

Program and Financing (in millions of dollars)


Identification code 20-0106-0-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Audits 16 23 23
00.02 Investigations 6 7 7
09.01 Reimbursable program 7 8 8



10.00 Total new obligations 29 38 38

Budgetary resources available for obligation:
22.00 New budget authority (gross) 33 38 38
23.95 Total new obligations -29 -38 -38
23.98 Unobligated balance expiring or withdrawn -4

New budget authority (gross), detail:
Discretionary:
40.00 Appropriation 26 30 30
Spending authority from offsetting collections:
58.00 Offsetting collections (cash) 2 8 8
58.10 Change in uncollected customer payments from Federal sources (unexpired) 5



58.90 Spending authority from offsetting collections (total discretionary) 7 8 8



70.00 Total new budget authority (gross) 33 38 38

Change in obligated balances:
72.40 Obligated balance, start of year 2 5 17
73.10 Total new obligations 29 38 38
73.20 Total outlays (gross) -26 -31 -38
74.00 Change in uncollected customer payments from Federal sources (unexpired) -5
74.10 Change in uncollected customer payments from Federal sources (expired) 5 5



74.40 Obligated balance, end of year 5 17 17

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 19 21 21
86.93 Outlays from discretionary balances 7 10 17



87.00 Total outlays (gross) 26 31 38

Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash) from: Federal sources -7 -8 -8
Against gross budget authority only:
88.95 Change in uncollected customer payments from Federal sources (unexpired) -5
88.96 Portion of offsetting collections (cash) credited to expired accounts 5

Net budget authority and outlays:
89.00 Budget authority 26 30 30
90.00 Outlays 19 23 30

The Office of Inspector General (OIG) conducts audits, evaluations, and investigations designed to: (1) promote economy, efficiency, and effectiveness and prevent and detect fraud, waste, and abuse in Departmental programs and operations; and (2) keep the Secretary and the Congress fully and currently informed of problems and deficiencies in the administration of Departmental programs and operations. This office is responsible for audit and investigative operations of all Treasury activities except tax administration.

The FY 2011 resources for the OIG will be used to provide critical audit and investigative services, ensuring the effectiveness and integrity of Treasury's programs and operations. The OIG will continue to address mandated requirements related to audits of the Department's financial statements, information security, and failed institutions regulated by the Office of the Comptroller of the Currency or the Office of Thrift Supervision resulting in material losses to the deposit insurance fund. The OIG will conduct audits of the Department's highest risk programs and operations. The Office of Audit expects to complete 100 percent of statutory audits by the required deadline, and to complete 62 audit products in FY 2011.

In FY 2011, the OIG Office of Investigations will continue to investigate all reports of fraud, waste and abuse and other criminal activity, such as financial programs where fraud and other crimes are involved in the issuance of licenses or benefits to citizens; will perform oversight or quality assurance reviews of Treasury's police operations at the Bureau of Engraving and Printing and the U.S. Mint; and will conduct proactive efforts to detect, investigate and deter electronic crimes and other threats to the Treasury's physical and cyber critical infrastructure. The Office of Investigations will continue current efforts to aggressively investigate, close, and refer cases for criminal prosecution, civil litigation or corrective administrative action in a timely manner.

Object Classification (in millions of dollars)


Identification code 20-0106-0-1-803 2009 actual 2010 est. 2011 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 11 18 17
11.5 Other personnel compensation 1 1 2



11.9 Total personnel compensation 12 19 19
12.1 Civilian personnel benefits 3 4 5
21.0 Travel and transportation of persons 1 1
23.1 Rental payments to GSA 1 2 2
23.3 Communications, utilities, and miscellaneous charges 1 1
25.2 Other services 2 2 1
25.3 Other purchases of goods and services from Government accounts 2 1 1
31.0 Equipment 2



99.0 Direct obligations 22 30 30
99.0 Reimbursable obligations 7 8 8



99.9 Total new obligations 29 38 38

Employment Summary


Identification code 20-0106-0-1-803 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 108 150 154

treasury inspector general for tax administration

salaries and expenses

For necessary expenses of the Treasury Inspector General for Tax Administration in carrying out the Inspector General Act of 1978, as amended, including purchase (not to exceed 150 for replacement only for police-type use) and hire of passenger motor vehicles (31 U.S.C. 1343(b)); services authorized by 5 U.S.C. 3109, at such rates as may be determined by the Inspector General for Tax Administration; [$152,000,000] $155,452,000, of which not to exceed $6,000,000 shall be available for official travel expenses; of which not to exceed $500,000 shall be available for unforeseen emergencies of a confidential nature, to be allocated and expended under the direction of the Inspector General for Tax Administration[; and of which not to exceed $1,500 shall be available for official reception and representation expenses]. (Department of the Treasury Appropriations Act, 2010.)

Program and Financing (in millions of dollars)


Identification code 20-0119-0-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Audit 54 59 59
00.02 Investigations 93 96 99
09.01 Reimbursable program 1 1 1



10.00 Total new obligations 148 156 159

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 1 7 4
22.00 New budget authority (gross) 154 153 156



23.90 Total budgetary resources available for obligation 155 160 160
23.95 Total new obligations -148 -156 -159



24.40 Unobligated balance carried forward, end of year 7 4 1

New budget authority (gross), detail:
Discretionary:
40.00 New budget authority (gross), detail 153 152 155
58.00 Spending authority from offsetting collections: Offsetting collections (cash) 1 1 1



70.00 Total new budget authority (gross) 154 153 156

Change in obligated balances:
72.40 Change in obligated balances 14 14 13
73.10 Total new obligations 148 156 159
73.20 Total outlays (gross) -148 -157 -159



74.40 Obligated balance, end of year 14 13 13

Outlays (gross), detail:
86.90 Outlays (gross), detail 137 141 144
86.93 Outlays from discretionary balances 11 16 15



87.00 Total outlays (gross) 148 157 159

Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash) from: Offsets -1 -1 -1

Net budget authority and outlays:
89.00 Budget authority 153 152 155
90.00 Outlays 147 156 158

The Treasury Inspector General for Tax Administration (TIGTA) conducts independent audits and investigations of Treasury Department matters relating to the Internal Revenue Service (IRS), the IRS Oversight Board, and the IRS Office of Chief Counsel. TIGTA's oversight helps ensure that the IRS accomplishes its mission; improves its programs and operations; promotes economy, efficiency and effectiveness; and prevents and detects fraud, waste and abuse. In FY 2011, TIGTA will continue to monitor the IRS' implementation of American Recovery and Reinvestment Act tax provisions. TIGTA's efforts will concentrate on the effectiveness of the tax provisions implemented and will both deter and detect potential fraud.

In FY 2011, TIGTA's investigative program will concentrate on three core areas: (1) employee integrity; (2) employee and infrastructure security; and (3) external attempts to corrupt tax administration. As the principle law enforcement agency responsible for protecting the integrity of tax administration, TIGTA will focus its investigative efforts on identifying vulnerabilities and emerging threats to electronic tax administration.

In FY 2011, TIGTA will administer an audit program that strikes a balance between statutory audit coverage and high-risk audit work. The statutory coverage will include audits mandated by the IRS Restructuring and Reform Act of 1998 and other statutory authorities and standards involving computer security, taxpayer privacy and rights, and financial management. The balance of TIGTA's audit work will focus on high-risk tax administration areas and will address major management and performance challenges facing the IRS, progress in achieving its strategic goals and their efforts to eliminate identified material weaknesses. Audits will address areas of concern to Congress, Secretary of the Treasury, IRS Oversight Board and IRS Commissioner. TIGTA's 2009 highlights include issuing 142 audit reports, and identifying more than $14.7 billion in potential financial benefits.

In FY 2011, The Office of Inspections and Evaluations will conduct strategic reviews targeting specific tax administration problems.

Object Classification (in millions of dollars)


Identification code 20-0119-0-1-803 2009 actual 2010 est. 2011 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 80 84 87
11.5 Other personnel compensation 9 11 10



11.9 Total personnel compensation 89 95 97
12.1 Civilian personnel benefits 27 28 29
21.0 Travel and transportation of persons 5 5 5
23.1 Rental payments to GSA 9 9 9
23.3 Communications, utilities, and miscellaneous charges 3 3 3
25.1 Advisory and assistance services 1 1 1
25.2 Other services 1 1 1
25.3 Other purchases of goods and services from Government accounts 7 8 8
25.7 Operation and maintenance of equipment 1 1 1
26.0 Supplies and materials 1 1 1
31.0 Equipment 3 3 3



99.0 Direct obligations 147 155 158
99.0 Reimbursable obligations 1 1 1



99.9 Total new obligations 148 156 159

Employment Summary


Identification code 20-0119-0-1-803 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 797 835 835
Reimbursable:
2001 Civilian full-time equivalent employment 3 3 3

Expanded Access to Financial Services

Program and Financing (in millions of dollars)


Identification code 20-0121-0-1-808 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct program activity 1



10.00 Total new obligations (object class 25.2) 1

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 2 1 1
23.95 Total new obligations -1



24.40 Unobligated balance carried forward, end of year 1 1 1

Change in obligated balances:
72.40 Obligated balance, start of year 1 1
73.10 Total new obligations 1



74.40 Obligated balance, end of year 1 1 1

Net budget authority and outlays:
89.00 Budget authority
90.00 Outlays

Expanded Access to Financial Services funds enable the Department to provide program and outreach services for banking the unbanked.

Counterterrorism Fund

Program and Financing (in millions of dollars)


Identification code 20-0117-0-1-751 2009 actual 2010 est. 2011 est.

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 1 1
22.00 New budget authority (gross) 1



23.90 Total budgetary resources available for obligation 1 1 1



24.40 Unobligated balance carried forward, end of year 1 1 1

New budget authority (gross), detail:
Discretionary:
58.00 Spending authority from offsetting collections: Offsetting collections (cash) 1

Change in obligated balances:
72.40 Obligated balance, start of year 1 1 1



74.40 Obligated balance, end of year 1 1 1

Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash) from: Federal sources -1

Net budget authority and outlays:
89.00 Budget authority
90.00 Outlays -1

Most of the balances in this account were transferred to the Department of Homeland Security in accordance with the Homeland Security Act of 2002 (P.L. 107-296). The remaining resources were used to fund projects related to domestic and international terrorism. This schedule reflects remaining balances in the account.

Terrorism Insurance Program

Program and Financing (in millions of dollars)


Identification code 20-0123-0-1-376 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Base Administrative Expenses 2 3 3
00.02 Projected Administrative Expenses 6 6
00.03 Projected Payments to Insurers 95 226



10.00 Total new obligations 2 104 235

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 2 1 1
22.00 New budget authority (gross) 1 104 235



23.90 Total budgetary resources available for obligation 3 105 236
23.95 Total new obligations -2 -104 -235



24.40 Unobligated balance carried forward, end of year 1 1 1

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 1 104 235

Change in obligated balances:
72.40 Obligated balance, start of year 2 2 2
73.10 Total new obligations 2 104 235
73.20 Total outlays (gross) -2 -104 -236



74.40 Obligated balance, end of year 2 2 1

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 1 103 107
86.98 Outlays from mandatory balances 1 1 129



87.00 Total outlays (gross) 2 104 236

Net budget authority and outlays:
89.00 Budget authority 1 104 235
90.00 Outlays 2 104 236

Summary of Budget Authority and Outlays (in millions of dollars)


2009 actual 2010 est. 2011 est.

Enacted/requested:
Budget Authority 1 104 235
Outlays 2 104 236
Legislative proposal, subject to PAYGO:
Budget Authority -26
Outlays -26
Total:
Budget Authority 1 104 209
Outlays 2 104 210

The Terrorism Risk Insurance Extension Act of 2007 (P.L. 110-160) reauthorized and revised the program established by the Terrorism Risk Insurance Act (TRIA) of 2002 (P.L. 107-297). The 2007 Act extended the Terrorism Insurance Program for seven years, through December 31, 2014. This extension of TRIA added a requirement for commercial property and casualty insurers to make available coverage for losses from domestic, as well as foreign, acts of terrorism and extends TRIA coverage for those losses.

The Budget baseline includes the estimated Federal cost of providing terrorism risk insurance, reflecting the 2007 TRIA extension. Using market driven data, the Budget projects annual outlays and recoupment for TRIA. These estimates represent a weighted average of TRIA payments for insured losses over a full range of scenarios, from no insured losses (and therefore no TRIA payments), through ensured loss levels of varying magnitudes. On this basis, the Budget baseline projects net spending of $1.187 billion over the 2011-2015 period and $1.260 billion over the 2011-2020 period.

The Administration proposes to lessen federal intervention in this insurance market and reduce the subsidy to and through private insurers (i.e., increase the private sector share of losses) beginning in 2011 after the economy is expected to stabilize. The Budget projects savings from this proposal of $378 million over the 2011-2015 period and $249 million over the 2011-2020 period. For more details, please see the Credit and Insurance chapter in the Analytical Perspectives volume.

Object Classification (in millions of dollars)


Identification code 20-0123-0-1-376 2009 actual 2010 est. 2011 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 1 1 1
12.1 Civilian personnel benefits 1 1
25.1 Advisory and assistance services 6 6
25.2 Other services 1 1
42.0 Projected Insurance claims and indemnities 95 226



99.0 Direct obligations 1 104 235
99.5 Below reporting threshold 1



99.9 Total new obligations 2 104 235

Employment Summary


Identification code 20-0123-0-1-376 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 9 10 10

Terrorism Insurance Program

(Legislative proposal, subject to PAYGO)

Program and Financing (in millions of dollars)


Identification code 20-0123-4-1-376 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.03 Projected Payments to Insurers -26



10.00 Total new obligations (object class 42.0) -26

Budgetary resources available for obligation:
22.00 New budget authority (gross) -26
23.95 Total new obligations 26



24.40 Unobligated balance carried forward, end of year

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation -26

Change in obligated balances:
73.10 Total new obligations -26
73.20 Total outlays (gross) 26



74.40 Obligated balance, end of year

Outlays (gross), detail:
86.97 Outlays from new mandatory authority -26

Net budget authority and outlays:
89.00 Budget authority -26
90.00 Outlays -26

Treasury Forfeiture Fund

[(rescission)] (cancellation)

Of the unobligated balances available under this heading, [$90,000,000] $62,000,000 are [rescinded] hereby permanently cancelled. (Department of the Treasury Appropriations Act, 2010.)

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20-5697-0-2-751 2009 actual 2010 est. 2011 est.

01.00 Balance, start of year 2 31 91



01.99 Balance, start of year 2 31 91
Receipts:
02.00 Forfeited Cash and Proceeds from Sale of Forfeited Property, Treasury Forfeiture Fund 554 500 500
02.40 Earnings on Investments, Treasury Forfeiture Fund 1 2 2



02.99 Total receipts and collections 555 502 502



04.00 Total: Balances and collections 557 533 593
Appropriations:
05.00 Treasury Forfeiture Fund -556 -502 -502
05.01 Treasury Forfeiture Fund -30 -90
05.02 Treasury Forfeiture Fund 30 90



05.99 Total appropriations -526 -442 -592



07.99 Balance, end of year 31 91 1

Program and Financing (in millions of dollars)


Identification code 20-5697-0-2-751 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Asset forfeiture fund 484 600 526



10.00 Total new obligations 484 600 526

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 183 300 142
22.00 New budget authority (gross) 526 442 530
22.10 Resources available from recoveries of prior year obligations 75



23.90 Total budgetary resources available for obligation 784 742 672
23.95 Total new obligations -484 -600 -526



24.40 Unobligated balance carried forward, end of year 300 142 146

New budget authority (gross), detail:
Discretionary:
40.35 Appropriation permanently reduced -62
Mandatory:
60.20 Appropriation (special fund) 556 502 502
60.28 Appropriation (previously unavailable) 30 90
60.38 Unobligated balance temporarily reduced -30 -90



62.50 Appropriation (total mandatory) 526 442 592



70.00 Total new budget authority (gross) 526 442 530

Change in obligated balances:
72.40 Obligated balance, start of year 358 406 476
73.10 Total new obligations 484 600 526
73.20 Total outlays (gross) -361 -530 -419
73.45 Recoveries of prior year obligations -75



74.40 Obligated balance, end of year 406 476 583

Outlays (gross), detail:
86.90 Outlays from new discretionary authority -62
86.97 Outlays from new mandatory authority 112 221 296
86.98 Outlays from mandatory balances 249 309 185



87.00 Total outlays (gross) 361 530 419

Net budget authority and outlays:
89.00 Budget authority 526 442 530
90.00 Outlays 361 530 419

Memorandum (non-add) entries:
92.01 Total investments, start of year: Federal securities: Par value 531 705 500
92.02 Total investments, end of year: Federal securities: Par value 705 500 500

The Treasury Forfeiture Fund supports Federal, State, and local law enforcement's use of asset forfeiture as a powerful tool to punish and deter criminal activity. Non-tax forfeitures made by participating bureaus of the Department of the Treasury and the Department of Homeland Security are deposited into the Fund. This revenue is available to pay or reimburse certain costs and expenses related to seizures and forfeitures that occur pursuant to laws enforced by the bureaus and other expenses authorized by 31 U.S.C. 9703. Upon notification of Congress, revenue can also be used to fund law enforcement related activities based on requests from member bureaus and evaluation by the Secretary of the Treasury. A $62 million cancellation is proposed for FY 2011.

Object Classification (in millions of dollars)


Identification code 20-5697-0-2-751 2009 actual 2010 est. 2011 est.

Direct obligations:
25.2 Other services 144 215 215
25.3 Other purchases of goods and services from Government accounts 156 235 161
41.0 Grants, subsidies, and contributions 184 150 150



99.9 Total new obligations 484 600 526

Presidential Election Campaign Fund

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20-5081-0-2-808 2009 actual 2010 est. 2011 est.

01.00 Balance, start of year 6



01.99 Balance, start of year 6
Receipts:
02.00 Presidential Election Campaign Fund 45 50 50



02.99 Total receipts and collections 45 50 50



04.00 Total: Balances and collections 45 50 56
Appropriations:
05.00 Presidential Election Campaign Fund -45 -44 -42



05.99 Total appropriations -45 -44 -42



07.99 Balance, end of year 6 14

Program and Financing (in millions of dollars)


Identification code 20-5081-0-2-808 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.03 Nominating Conventions - Major Party 37



10.00 Total new obligations (object class 41.0) 37

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 107 152 196
22.00 New budget authority (gross) 45 44 42



23.90 Total budgetary resources available for obligation 152 196 238
23.95 Total new obligations -37



24.40 Unobligated balance carried forward, end of year 152 196 201

New budget authority (gross), detail:
Mandatory:
60.20 Appropriation (special fund) 45 44 42

Change in obligated balances:
73.10 Total new obligations 37
73.20 Total outlays (gross) -37

Outlays (gross), detail:
86.98 Outlays from mandatory balances 37

Net budget authority and outlays:
89.00 Budget authority 45 44 42
90.00 Outlays 37

Individual Federal income tax returns include an optional Federal income tax designation of $3 that an individual may elect to be paid to the Presidential Election Campaign Fund (PECF). In recent years, less than 10% of individuals have elected to make this designation, resulting in less than $50 million paid into the Fund annually. Approximately every four years, the Department of the Treasury makes distributions from the PECF (referred to as public funds, matching funds, or Federal funds) to qualified Presidential candidates and national party committees for use in the Presidential elections.

Money for the public funding of Presidential elections can only come from the PECF. When the PECF runs short of funds, no other general Treasury funds may be used.

The Federal Election Commission administers the public funding program, determining which candidates are eligible, the amount to which they are entitled, and auditing their use of funds. The Department of the Treasury collects the income tax designations and makes payouts to the campaigns.

Matching Funds for Presidential Primary Candidates.—Upon certification by the Federal Election Commission—based on demonstration of broad national support, adhering to spending limits, and other qualifications—every eligible Presidential primary candidate is entitled to receive $250 in Federal matching funds for the first eligible $250 of private contributions per individual received after the beginning of the calendar year immediately preceding the election year through the end of the calendar year of the election. For the 2012 Presidential election, payouts to eligible candidates are possible beginning in January 2011 and all monies raised in 2011 or 2012 are potentially matchable.

Candidates for General Elections.—By statute, eligible candidates of each major party in a Presidential election are entitled to equal payments in an amount which, in the aggregate, shall not exceed $20 million each, plus an inflation adjustment. In 2008, this amounted to $84.1 million for each candidate, and only the Republican candidate accepted general election funding. Eligibility for this funding depends on meeting several criteria such as agreeing to limit spending amounts specified by campaign finance laws. In addition, provision is made for new parties, minor parties, and non-major party candidates who may receive in excess of 5 percent of the popular vote and therefore be entitled to a pro rata portion of the major party grant in the general election.

Nominating Party Conventions.—Upon certification by the Commission, payments may be made to the national committee of a major or minor political party that chooses to receive its entitlement. The total of such payments will be limited to the amount in the account at the time of payment. The national committee of each party may receive payments beginning on July 1 of the year immediately preceding the calendar year in which a presidential nominating convention of the political party is held. By statute, the two major parties receive $4 million each, plus an inflation adjustment (over 1974). In 2007, the Republican and Democratic parties each received $16.4 million for their nominating conventions. An additional $464,000 was paid to each party in 2008 to reflect the fully adjusted grant for 2008.
When there are insufficient funds to meet the demand for public funding, payments to the national parties for their nominating conventions have first priority with the general election candidates second and the primary candidates last.

Sallie Mae Assessments

Exchange Stabilization Fund

Program and Financing (in millions of dollars)


Identification code 20-4444-0-3-155 2009 actual 2010 est. 2011 est.

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year (Special drawing rights) 35,272 88,196 90,916
22.00 New budget authority (gross) 413 419 423
22.21 Unobligated balance transferred to other accounts -1,094
22.22 Unobligated balance transferred from other accounts 2,301
23.43 Adjustment to foreign exchange valuation for Exchange Stabilization Fund 53,605



23.90 Total budgetary resources available for obligation 88,196 90,916 91,339



24.40 Unobligated balance carried forward, end of year 88,196 90,916 91,339

New budget authority (gross), detail:
Mandatory:
69.00 Offsetting collections (cash) 413 419 423

Change in obligated balances:
72.40 Obligated balance, start of year 14,135 14,135 14,135



74.40 Obligated balance, end of year 14,135 14,135 14,135

Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash) from:
88.20 Interest on Federal securities -20 -9 -12
88.40 Interest on foreign investments -393 -410 -411
88.40 Non-Federal sources



88.90 Total, offsetting collections (cash) -413 -419 -423

Net budget authority and outlays:
89.00 Budget authority
90.00 Outlays -413 -419 -423

Memorandum (non-add) entries:
92.01 Total investments, start of year: Federal securities: Par value 16,840 18,615 20,925
92.02 Total investments, end of year: Federal securities: Par value 18,615 20,925 22,700
92.03 Total investments, start of year: non-Federal securities: Market value 23,149 25,770 27,200
92.04 Total investments, end of year: non-Federal securities: Market value 25,770 27,200 28,630

Under the law creating the Exchange Stabilization Fund (ESF), 31 USC 5302, the Secretary of the Treasury, with the approval of the President, is authorized to deal in gold, foreign exchange, and other instruments of credit and securities, as the Secretary considers necessary, consistent with U.S. obligations in the International Monetary Fund (IMF) regarding orderly exchange arrangements and a stable system of exchange rates. All earnings and interest accruing to the ESF are available for the purposes thereof. Transactions in Special Drawing Rights (SDRs) and U.S. holdings of SDRs are administered by the fund. As required by Public Law 95-612, the fund is not available to pay administrative expenses.

The principal sources of the fund's income are earnings on investments held by the fund, including interest earned on fund holdings of U.S. Government securities.

The amounts reflected in the 2010 and 2011 estimates entail only projected net interest earnings on ESF assets. The estimates are subject to considerable variance, depending on changes in the amount and composition of assets and the interest rates applied to investments. In addition, these estimates make no attempt to forecast gains or losses on SDR valuation or foreign currency valuation.

Balance Sheet (in millions of dollars)


Identification code 20-4444-0-3-155 2008 actual 2009 actual

ASSETS:
Federal assets: Investments in US securities:
1102 Treasury securities, par 16,840 18,615
1201 Non-Federal assets: Foreign Currency Investments 23,301 25,907
1801 Other Federal assets: Special Drawing Rights 9,463 57,961


1999 Total assets 49,604 102,483
LIABILITIES:
2207 Non-Federal liabilities: Other 9,867 61,168


2999 Total liabilities 9,867 61,168
NET POSITION:
3100 Appropriated capital 200 200
3300 Cumulative results of operations 39,537 41,115


3999 Total net position 39,737 41,315


4999 Total liabilities and net position 49,604 102,483

Exchange Stabilization Fund-Money Market Mutual Fund Guaranty Facility

Program and Financing (in millions of dollars)


Identification code 20-4274-0-3-376 2009 actual 2010 est. 2011 est.

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 40 2,301
22.00 New budget authority (gross) 1,167
22.21 Unobligated balance transferred to other accounts -2,301
22.22 Unobligated balance transferred from other accounts 1,094



23.90 Total budgetary resources available for obligation 2,301



24.40 Unobligated balance carried forward, end of year 2,301

New budget authority (gross), detail:
Mandatory:
69.00 Offsetting collections (cash) 1,167

Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash) from:
88.20 Interest on Federal securities -1
88.40 Non-Federal sources -1,166



88.90 Total, offsetting collections (cash) -1,167

Net budget authority and outlays:
89.00 Budget authority
90.00 Outlays -1,167

Memorandum (non-add) entries:
92.01 Total investments, start of year: Federal securities: Par value 7 1,201
92.02 Total investments, end of year: Federal securities: Par value 1,201
92.04 Total investments, end of year: non-Federal securities: Market value 1,100

The Department established a Temporary Guarantee Program for Money Market Funds (Treasury Guarantee Program) in September 2008 that was managed under the purview of the Treasury's Office of Financial Institutions. Under the Treasury Guarantee Program, the Treasury guaranteed to individual investors that they would receive the stable share price (SSP) for each share held in a participating money market fund up to the number of shares held as of the close of business, September 19, 2008. Use of ESF assets to support the Treasury Guarantee Program was approved by the President and the Secretary of the Treasury on September 19, 2008, and opened for participation on September 29, 2008. To participate in the Treasury Guarantee Program, eligible money market funds must have submitted an application and paid a premium of 1 basis point if the fund's Net Asset Value (NAV) was greater than or equal to 99.75 percent of the SSP, or 1.5 basis points of the SSP if the fund's NAV was less than 99.75 percent of the SSP but greater than or equal to 99.50 percent of the SSP. To be eligible, funds were required to: (1) be regulated under Rule 2a-7 of the Investment Company Act of 1940; (2) maintain a SSP; (3) have a market-based NAV of at least 99.5 percent of the SSP as of September 19, 2008; and (4) be publicly offered and registered with the Securities and Exchange Commission. The Program was initially offered for a three month period (through December 19, 2008), with the option to extend through September 18, 2009, at the discretion of the Secretary of the Treasury. The Program was extended twice during 2009; first from December 19, 2008 through April 30, 2009 and again through September 18, 2009. The program officially expired on September 18, 2009.

On November 19, 2008, Treasury entered into a transaction with the Reserve Fund's U.S. Government Fund (USGF), under which Treasury: (1) executed the Guarantee Agreement, which accepted the USGF into the Treasury Guarantee Program; and (2) signed a Letter Agreement with the USGF. Under the terms of the Letter Agreement, Treasury was obligated to purchase in early January 2009 the USGF's remaining securities issued by four U.S. government sponsored enterprises. On January 15, 2009 the ESF purchased approximately $3.6 billion of these securities; the purchase price representing the amortized cost of the remaining securities, plus accrued but unpaid interest. Upon consummation of the purchase, these GSE securities were classified as held to maturity. As of the end of fiscal year 2009, $1.1 billion of these securities remained outstanding. In November 2009, all securities matured and resulted in the closing of the Treasury Guarantee Program (and this account) in fiscal year 2010.

Balance Sheet (in millions of dollars)


Identification code 20-4274-0-3-376 2008 actual 2009 actual

ASSETS:
Federal assets: Investments in US securities:
1102 Treasury securities, par 7 7
1801 Other Federal assets: Cash and other monetary assets 33 33


1999 Total assets 40 40
LIABILITIES:
2207 Non-Federal liabilities: Other 40 40


2999 Total liabilities 40 40
NET POSITION:
3999 Total net position


4999 Total liabilities and net position 40 40

Working Capital Fund

Program and Financing (in millions of dollars)


Identification code 20-4501-0-4-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
09.10 Working capital fund 267 199 150
09.11 Administrative overhead 8 8 8



10.00 Total new obligations 275 207 158

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 94 46 46
22.00 New budget authority (gross) 198 207 158
22.10 Resources available from recoveries of prior year obligations 29



23.90 Total budgetary resources available for obligation 321 253 204
23.95 Total new obligations -275 -207 -158



24.40 Unobligated balance carried forward, end of year 46 46 46

New budget authority (gross), detail:
Mandatory:
69.00 Offsetting collections (cash) 198 207 158

Change in obligated balances:
72.40 Obligated balance, start of year 103 111 14
73.10 Total new obligations 275 207 158
73.20 Total outlays (gross) -238 -304 -160
73.45 Recoveries of prior year obligations -29



74.40 Obligated balance, end of year 111 14 12

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 184 197 150
86.98 Outlays from mandatory balances 54 107 10



87.00 Total outlays (gross) 238 304 160

Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash) from:
88.00 Federal sources -12 -207 -158
88.40 Non-Federal sources -186



88.90 Total, offsetting collections (cash) -198 -207 -158

Net budget authority and outlays:
89.00 Budget authority
90.00 Outlays 40 97 2

Central services for Treasury Department bureaus funded through the Department of the Treasury Working Capital Fund include: telecommunications, printing, duplicating, graphics, computer support/usage, personnel/payroll, automated financial management systems, training, short-term management assistance, procurement, information technology services, equal employment opportunity services, and environmental health and safety services. These services are provided on a reimbursable basis at rates which will recover the Fund's operating expenses, including accrual of annual leave and depreciation of equipment.

Object Classification (in millions of dollars)


Identification code 20-4501-0-4-803 2009 actual 2010 est. 2011 est.

Reimbursable obligations:
11.1 Personnel compensation: Full-time permanent 22 26 25
12.1 Civilian personnel benefits 5 5 5
21.0 Travel and transportation of persons 1
23.1 Rental payments to GSA 4
23.3 Communications, utilities, and miscellaneous charges 1 4 4
25.1 Advisory and assistance services 16
25.2 Other services 121 163 116
25.3 Other purchases of goods and services from Government accounts 96
25.7 Operation and maintenance of equipment 9
26.0 Supplies and materials 3 2
31.0 Equipment 1 6 5



99.9 Total new obligations 275 207 158

Employment Summary


Identification code 20-4501-0-4-803 2009 actual 2010 est. 2011 est.

Reimbursable:
2001 Civilian full-time equivalent employment 190 226 222

Treasury Franchise Fund

Program and Financing (in millions of dollars)


Identification code 20-4560-0-4-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
09.01 Consolidated/Integrated Administrative Management 15
09.02 Financial Management Administrative Support Service 146 168 176
09.03 Financial Systems, Consulting and Training 5



10.00 Total new obligations 166 168 176

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 141 62 68
22.00 New budget authority (gross) 13 168 176
22.10 Resources available from recoveries of prior year obligations 74 6 6



23.90 Total budgetary resources available for obligation 228 236 250
23.95 Total new obligations -166 -168 -176



24.40 Unobligated balance carried forward, end of year 62 68 74

New budget authority (gross), detail:
Discretionary:
Spending authority from offsetting collections:
58.00 Offsetting collections (cash) 177 172 179
58.10 Change in uncollected customer payments from Federal sources (unexpired) -164 -4 -3



58.90 Spending authority from offsetting collections (total discretionary) 13 168 176

Change in obligated balances:
72.40 Obligated balance, start of year -85 6 4
73.10 Total new obligations 166 168 176
73.20 Total outlays (gross) -165 -168 -175
73.45 Recoveries of prior year obligations -74 -6 -6
74.00 Change in uncollected customer payments from Federal sources (unexpired) 164 4 3



74.40 Obligated balance, end of year 6 4 2

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 133 146 153
86.93 Outlays from discretionary balances 32 22 22



87.00 Total outlays (gross) 165 168 175

Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash) from: Federal sources -177 -172 -179
Against gross budget authority only:
88.95 Change in uncollected customer payments from Federal sources (unexpired) 164 4 3

Net budget authority and outlays:
89.00 Budget authority
90.00 Outlays -12 -4 -4

The Department of the Treasury was authorized to pilot a franchise fund under P.L. 103-356, the Government Management and Reform Act of 1994. The purpose of the franchise fund pilot was to bring about lower costs and higher quality for government and financial administrative services through greater competition. The Treasury Franchise Fund (The Fund) was established by P.L. 104-208, made permanent by P.L. 108-447 and codified as 31 U.S.C. 322, note.

The Fund is a revolving fund that is used to supply financial and administrative services to the Department of Treasury and other federal agencies on a fee-for-service basis. The Financial Management Administrative Support budget activity has been defined to include the services provided by the Bureau of the Public Debt's Administrative Resource Center (ARC). ARC has been providing competitively priced, high quality, value added services since joining the Fund in 1998 and has been designated a Center of Excellence as a federal shared service provider under both the Financial Management (FMLoB) and Information Systems Security Lines of Business (ISSLoB). In addition, ARC has critical supporting roles in the Human Resources and Public Key Infrastructure (PKI) SSP designations of the Department of Treasury.

Object Classification (in millions of dollars)


Identification code 20-4560-0-4-803 2009 actual 2010 est. 2011 est.

Reimbursable obligations:
Personnel compensation:
11.1 Full-time permanent 69 70 75
11.3 Other than full-time permanent 1 1 1
11.5 Other personnel compensation 3 3 3



11.9 Total personnel compensation 73 74 79
12.1 Civilian personnel benefits 19 21 23
21.0 Travel and transportation of persons 1 2 2
23.2 Rental payments to others 1
23.3 Communications, utilities, and miscellaneous charges 4 3 3
25.1 Advisory and assistance services 4 6 4
25.2 Other services 19 13 13
25.3 Other purchases of goods and services from Government accounts 26 32 33
25.7 Operation and maintenance of equipment 7 8 9
26.0 Supplies and materials 1 1 1
31.0 Equipment 10 8 9
32.0 Land and structures 1



99.9 Total new obligations 166 168 176

Employment Summary


Identification code 20-4560-0-4-803 2009 actual 2010 est. 2011 est.

Reimbursable:
2001 Civilian full-time equivalent employment 944 1,003 1,043

Administrative Expenses, Recovery Act

Program and Financing (in millions of dollars)


Identification code 20-0129-0-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Internal Revenue Service 27 95
00.02 Financial Management Service 4 2
00.03 Treasury, Departmental Office 2 1



10.00 Total new obligations 33 98

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 98
22.00 New budget authority (gross) 131



23.90 Total budgetary resources available for obligation 131 98
23.95 Total new obligations -33 -98



24.40 Unobligated balance carried forward, end of year 98

New budget authority (gross), detail:
Discretionary:
40.00 Appropriation 131

Change in obligated balances:
72.40 Obligated balance, start of year 4 6
73.10 Total new obligations 33 98
73.20 Total outlays (gross) -29 -96 -2



74.40 Obligated balance, end of year 4 6 4

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 29
86.93 Outlays from discretionary balances 96 2



87.00 Total outlays (gross) 29 96 2

Net budget authority and outlays:
89.00 Budget authority 131
90.00 Outlays 29 96 2

This appropriation covers the administrative expenses associated with programs authorized by certain sections of the American Recovery and Reinvestment Act. The $131 million appropriated to this account will support the implementation and administration of a number of new and expanded tax , bond and cash assistance programs across the Department of the Treasury. Funding also supported the disbursement of approximately 64 million Economic Recovery Payments to Social Security, Supplemental Security Income, Railroad Retirement, and Veterans Affairs beneficiaries.

Object Classification (in millions of dollars)


Identification code 20-0129-0-1-803 2009 actual 2010 est. 2011 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 13 54
11.5 Other personnel compensation 3 2



11.9 Total personnel compensation 16 56
12.1 Civilian personnel benefits 4 20
21.0 Travel and transportation of persons 1 2
23.3 Communications, utilities, and miscellaneous charges 6 2
25.1 Advisory and assistance services 3
25.2 Other services 4 11
26.0 Supplies and materials 2
31.0 Equipment 2 2



99.9 Total new obligations 33 98

Employment Summary


Identification code 20-0129-0-1-803 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 276 1,200

Grants for Specified Energy Property in Lieu of Tax Credits, Recovery Act

Program and Financing (in millions of dollars)


Identification code 20-0140-0-1-271 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct Program Activity 1,053 3,087 4,464



10.00 Total new obligations (object class 41.0) 1,053 3,087 4,464

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 7
21.45 Adjustments to unobligated balance carried forward, start of year -7
22.00 New budget authority (gross) 1,060 3,087 4,464



23.90 Total budgetary resources available for obligation 1,060 3,087 4,464
23.95 Total new obligations -1,053 -3,087 -4,464



24.40 Unobligated balance carried forward, end of year 7

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 1,060 3,087 4,464

Change in obligated balances:
73.10 Total new obligations 1,053 3,087 4,464
73.20 Total outlays (gross) -1,053 -3,087 -4,464

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 1,053 3,080 4,464
86.98 Outlays from mandatory balances 7



87.00 Total outlays (gross) 1,053 3,087 4,464

Net budget authority and outlays:
89.00 Budget authority 1,060 3,087 4,464
90.00 Outlays 1,053 3,087 4,464

Section 1603 of the American Recovery and Reinvestment Act of 2009 authorizes and directs the Secretary of the Treasury to establish payments in lieu of a tax credits for taxpayers that place in service qualifying renewable energy facilities. This account presents the estimated disbursements for this program.

This program will provide payments for specified energy property (including qualified facilities that produce electricity from wind and certain other renewable resources; qualified fuel cell property; solar property; qualified small wind energy property; geothermal property; qualified microturbine property; combined heat and power system property; and geothermal heat pump property). Payments are available for property placed in service in 2009 or 2010. In some cases, if construction begins in 2009 or 2010, the payment can be claimed for property placed in service before 2013, 2014 or 2017 (depending on the type of property). In general, projects that meet eligibility criteria for the energy property investment tax credit (ITC) (including qualified renewable energy facilities for which an election to claim the ITC can be made) are eligible for the payments. A person or entity receiving a payment for specified energy property may not claim either the investment tax credit or the renewable energy production tax credit with respect to the same property.

Grants to States for Low-Income Housing Projects in Lieu of Low-Income Housing Credit Allocations

Program and Financing (in millions of dollars)


Identification code 20-0139-0-1-604 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct Program Activity 2,465 1,180 450



10.00 Total new obligations (object class 41.0) 2,465 1,180 450

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 465
21.45 Adjustments to unobligated balance carried forward, start of year -465
22.00 New budget authority (gross) 2,930 1,180 450



23.90 Total budgetary resources available for obligation 2,930 1,180 450
23.95 Total new obligations -2,465 -1,180 -450



24.40 Unobligated balance carried forward, end of year 465

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 2,930 1,180 450

Change in obligated balances:
72.40 Obligated balance, start of year 2,436 1,076
73.10 Total new obligations 2,465 1,180 450
73.20 Total outlays (gross) -29 -2,540 -870



74.40 Obligated balance, end of year 2,436 1,076 656

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 29 650 174
86.98 Outlays from mandatory balances 1,890 696



87.00 Total outlays (gross) 29 2,540 870

Net budget authority and outlays:
89.00 Budget authority 2,930 1,180 450
90.00 Outlays 29 2,540 870

Summary of Budget Authority and Outlays (in millions of dollars)


2009 actual 2010 est. 2011 est.

Enacted/requested:
Budget Authority 2,930 1,180 450
Outlays 29 2,540 870
Legislative proposal, subject to PAYGO:
Budget Authority 2,435 1,815
Outlays 2,435 1,815
Total:
Budget Authority 2,930 3,615 2,265
Outlays 29 4,975 2,685

Section 1602 of the American Recovery and Reinvestment Act of 2009 (Recovery Act) authorizes and directs the Secretary of the Treasury to establish payments to states for low-income housing projects in lieu of low-income housing tax credits (LIHTC). This account presents the estimated disbursements for this program.

The program will provide payments to State housing credit agencies to make sub-awards to finance the construction or acquisition and rehabilitation of qualified low-income housing in the same manner and generally subject to the same limitations as LIHTCs allocated under section 42 of the Internal Revenue Code (IRC). The Recovery Act specifies that the exchange of credits for cash payments applies only to the 2009 LIHTC ceiling under IRC 42(h)(3)(C), and that States may elect to exchange credits for cash payments subject to the requirements and limitations provided in Division B, sections 1404 & 1602 of the Recovery Act.

The 2011 Budget proposes to extend for one year the cash assistance in lieu of LIHTCs option available to States found in the Recovery Act. The same general requirements and restrictions found in the Recovery Act will apply to the extension.

Grants to States for Low-Income Housing Projects in Lieu of Low-Income Housing Credit Allocations

(Legislative proposal, subject to PAYGO)

Program and Financing (in millions of dollars)


Identification code 20-0139-4-1-604 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct Program Activity 2,435 1,815



10.00 Total new obligations (object class 41.0) 2,435 1,815

Budgetary resources available for obligation:
22.00 New budget authority (gross) 2,435 1,815
23.95 Total new obligations -2,435 -1,815

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 2,435 1,815

Change in obligated balances:
73.10 Total new obligations 2,435 1,815
73.20 Total outlays (gross) -2,435 -1,815

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 2,435 1,815

Net budget authority and outlays:
89.00 Budget authority 2,435 1,815
90.00 Outlays 2,435 1,815

Community Development Financial Institutions Fund Program Account

[(including transfer of funds)]

To carry out the Community Development Banking and Financial Institutions Act of 1994 (Public Law 103-325), including services authorized by 5 U.S.C. 3109, but at rates for individuals not to exceed the per diem rate equivalent to the rate for ES-3, [notwithstanding sections 4707(d) and 4707(e) of title 12, United States Code, $166,750,000] $250,000,000, to remain available until September 30, [2011] 2012; of which $12,000,000 shall be for financial assistance, technical assistance, training and outreach programs, under sections 105 through 109 of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4704-4708), designed to benefit Native [American, Native Hawaiian, and Alaskan Native] communities and provided primarily through qualified community development lender organizations with experience and expertise in community development banking and lending in Indian country, Native American organizations, tribes and tribal organizations and other suitable providers; of which [$1,000,000 shall be available for the pilot project grant program under section 1132(d) of division A of the Housing and Economic Recovery Act of 2008 (Public Law 110-289); of which $3,150,000 shall be for an additional pilot project grant to an eligible organization located in the State of Hawaii for financial education and pre-home ownership counseling as authorized in section 1132(d) of division A of the Housing and Economic Recovery Act of 2008 (Public Law 110-289), and], notwithstanding section 4707(d), up to $25,000,000 shall be for a Healthy Food Financing Initiative to provide grants and loans to community development financial institutions for the purpose of offering affordable financing and technical assistance to expand the availability of healthy food options in distressed communities; of which [up to $18,000,000 may] $50,000,000 shall be for financial assistance, technical assistance, training and outreach programs to community development financial institutions, other financial service organizations, non-profit organizations, states, and local governments, and partnerships of such entities (or a financial service organization designated as a fiscal agent on behalf of such entity) for the purpose of seeding local initiatives to establish bank accounts for low and moderate-income persons who do not have bank accounts with financial institutions, and providing appropriate financial products and services to underbanked persons, and for the purpose of encouraging such persons to enter into formal banking relationships and access financial services and development services, and to evaluate the results of such efforts; of which up to $23,000,000 may be used for administrative expenses, including administration of the New Markets Tax Credit; of which up to $10,200,000 may be used for the cost of direct loans; and of which up to $250,000 may be used for administrative expenses to carry out the direct loan program: Provided, That the cost of direct loans, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That these funds are available to subsidize gross obligations for the principal amount of direct loans not to exceed $25,000,000.

[For an additional amount to be transferred to the "Capital Magnet Fund'', as authorized by section 1339 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 1301 et seq.), as amended by section 1131 of the Housing and Economic Recovery Act of 2008 (Public Law 110-289), to support financing for affordable housing and economic development projects, $80,000,000, to remain available until September 30, 2011: Provided, That, for fiscal year 2010, section 1339(h)(3) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by section 1131 of the Housing and Economic Recovery Act of 2008 (Public Law 110-289), shall be applied by substituting the term "at least 10 times the grant amount or such other amount that the Secretary may require'' for "at least 10 times the grant amount''.] (Department of the Treasury Appropriations Act, 2010.)

Program and Financing (in millions of dollars)


Identification code 20-1881-0-1-451 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct loan subsidy 4
00.05 Direct program activity 2
00.09 General administrative expenses 17 18 23
00.11 Bank enterprise awards program 22 25
00.12 Financial Assistance 55 108 155
00.14 Native American/Hawaiian Program 9 12 12
00.16 Recovery Act Funding 98
00.18 Hawaii Pilot Program 3
00.20 Financial Education and Counseling 1
00.21 National Fresh Food Financing 10
00.22 Bank on USA 50
00.23 Capital Magnet Fund 80



10.00 Total new obligations 201 249 254

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 3 11 11
22.00 New budget authority (gross) 208 248 251
22.10 Resources available from recoveries of prior year obligations 1 1 1



23.90 Total budgetary resources available for obligation 212 260 263
23.95 Total new obligations -201 -249 -254



24.40 Unobligated balance carried forward, end of year 11 11 9

New budget authority (gross), detail:
Discretionary:
40.00 Appropriation 207 167 250
40.00 Appropriation 80



43.00 Appropriation (total discretionary) 207 247 250
58.00 Spending authority from offsetting collections: Offsetting collections (cash) 1 1 1



70.00 Total new budget authority (gross) 208 248 251

Change in obligated balances:
72.40 Obligated balance, start of year 86 70 185
73.10 Total new obligations 201 249 254
73.20 Total outlays (gross) -215 -133 -240
73.40 Adjustments in expired accounts (net) -1
73.45 Recoveries of prior year obligations -1 -1 -1



74.40 Obligated balance, end of year 70 185 198

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 133 52 52
86.93 Outlays from discretionary balances 82 81 188



87.00 Total outlays (gross) 215 133 240

Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash) from: Non-Federal sources -1 -1 -1

Net budget authority and outlays:
89.00 Budget authority 207 247 250
90.00 Outlays 214 132 239

Memorandum (non-add) entries:
92.03 Total investments, start of year: non-Federal securities: Market value 33 31 31
92.04 Total investments, end of year: non-Federal securities: Market value 31 31 33

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)


Identification code 20-1881-0-1-451 2009 actual 2010 est. 2011 est.

Direct loan levels supportable by subsidy budget authority:
115001 Community Development Financial Institutions Prog Fin Assist. 10



115999 Total direct loan levels 10
Direct loan subsidy (in percent):
132001 Community Development Financial Institutions Prog Fin Assist. 0.00 0.00 40.53



132999 Weighted average subsidy rate 0.00 0.00 40.53
Direct loan subsidy budget authority:
133001 Community Development Financial Institutions Prog Fin Assist. 4



133999 Total subsidy budget authority 4
Direct loan subsidy outlays:
134001 Community Development Financial Institutions Prog Fin Assist. 4



134999 Total subsidy outlays 4
Direct loan upward reestimates:
135001 Community Development Financial Institutions Prog Fin Assist. 2



135999 Total upward reestimate budget authority 2
Direct loan downward reestimates:
137001 Community Development Financial Institutions Prog Fin Assist. -6



137999 Total downward reestimate budget authority -6

The Community Development Financial Institutions (CDFI) Fund promotes economic and community development through investment in and assistance to community development banks, credit unions, loan funds, and venture capital funds in order to expand the availability of financial services and affordable credit for underserved populations, including distressed urban, rural, Native American, Native Hawaiian, and Alaska Native communities. The CDFI Fund's role in promoting community and economic development was expanded in FY 2001 when the Secretary of the Treasury delegated to the CDFI Fund the responsibility of administering the New Markets Tax Credit (NMTC) Program which spurs investment of new private sector capital into low-income communities.

The 2011 Budget proposes to increase funding for the CDFI Fund's core merit-based CDFI programs, in addition to funding two new community development initiatives: (1) the Healthy Food Financing Initiative (HFFI), which will provide grants to CDFIs for the purpose of offering affordable financing to expand the availability of healthy food options in distressed communities; and, (2) Bank on USA, which will promote access to affordable and appropriate financial services and basic consumer credit products for households without access to such products and services. In addition, the Budget proposes to reauthorize the NMTC through FY 2011, offsetting the Alternative Minimum Tax requirements for all NMTC allocation authority awarded but for which investments have not yet been made. Of the $5 billion requested for NMTC investment authority in FY 2011, $250 million will be used to attract private sector capital that will support the financing of healthy food options in distressed communities as part of HFFI.

Object Classification (in millions of dollars)


Identification code 20-1881-0-1-451 2009 actual 2010 est. 2011 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 5 8 8
12.1 Civilian personnel benefits 2 2 2
23.1 Rental payments to GSA 2 2 2
23.3 Communications, utilities, and miscellaneous charges 1
25.1 Advisory and assistance services 1 1 4
25.2 Other services 5 1 3
25.3 Other purchases of goods and services from Government accounts 1 1 1
25.5 Research and development contracts 2 2
33.0 Investments and loans 1 1
41.0 Grants, subsidies, and contributions 184 231 231



99.9 Total new obligations 201 249 254

Employment Summary


Identification code 20-1881-0-1-451 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 60 84 90

Community Development Financial Institutions Fund Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20-4088-0-3-451 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct loans 10
00.02 Interest paid to Treasury 2 2 2
00.03 Principal paid to Treasury 6 6



00.91 Direct Program by Activities - Subtotal (1 level) 2 8 18
08.02 Downward reestimates paid to receipt accounts 4
08.04 Interest on downward reestimates 2



08.91 Subtotal Reestimate activities 6



10.00 Total new obligations 2 14 18

Budgetary resources available for obligation:
22.00 New financing authority (gross) 1 14 18
22.10 Resources available from recoveries of prior year obligations 1



23.90 Total budgetary resources available for obligation 2 14 18
23.95 Total new obligations -2 -14 -18



24.40 Unobligated balance carried forward, end of year

New financing authority (gross), detail:
Mandatory:
60.47 Portion applied to repay debt -4
67.10 Authority to borrow 6
69.00 Offsetting collections (cash) 6 14 12
69.10 Change in uncollected customer payments from Federal sources (unexpired) -1



69.90 Spending authority from offsetting collections (total mandatory) 5 14 12



70.00 Total new financing authority (gross) 1 14 18

Change in obligated balances:
72.40 Obligated balance, start of year 3
73.10 Total new obligations 2 14 18
73.20 Total financing disbursements (gross) -5 -14 -18
73.45 Recoveries of prior year obligations -1
74.00 Change in uncollected customer payments from Federal sources (unexpired) 1



74.40 Obligated balance, end of year

Outlays (gross), detail:
87.00 Total financing disbursements (gross) 5 14 18

Offsets:
Against gross financing authority and financing disbursements:
Offsetting collections (cash) from:
88.00 Federal sources -1 -2 -4
88.40 Non-Federal sources - Interest repayments -4 -3 -2
88.40 Non-Federal sources - Principal Repayments -1 -9 -6



88.90 Total, offsetting collections (cash) -6 -14 -12
Against gross financing authority only:
88.95 Change in receivables from program accounts 1

Net financing authority and financing disbursements:
89.00 Financing authority -4 6
90.00 Financing disbursements -1 6

Status of Direct Loans (in millions of dollars)


Identification code 20-4088-0-3-451 2009 actual 2010 est. 2011 est.

Position with respect to appropriations act limitation on obligations:
1111 Limitation on direct loans 16 25
1142 Unobligated direct loan limitation (-) -16 -15



1150 Total direct loan obligations 10

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 61 60 51
1231 Disbursements: Direct loan disbursements
1251 Repayments: Repayments and prepayments -1 -9 -6
1263 Write-offs for default: Direct loans



1290 Outstanding, end of year 60 51 45

As required by the Federal Credit Reform Act of 1990, this non-budgetary account records all cash flows to and from the Government resulting from direct loans obligated in 1992 and beyond (including modifications of direct loans that resulted from obligations in any year). The amounts in this account are a means of financing and are not included in the budget totals.

Balance Sheet (in millions of dollars)


Identification code 20-4088-0-3-451 2008 actual 2009 actual

ASSETS:
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 61 61
1405 Allowance for subsidy cost (-) -20 -20


1499 Net present value of assets related to direct loans 41 41


1999 Total assets 41 41
LIABILITIES:
2103 Federal liabilities: Debt 41 41


2999 Total liabilities 41 41


4999 Total liabilities and net position 41 41

Office of Financial Stability

Program and Financing (in millions of dollars)


Identification code 20-0128-0-1-376 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct program activity 205 314 260
09.10 Reimbursable program (Congressional Oversight Panel) 4 5 2
09.11 Reimbursable program (to GAO) 9 11 12
09.12 Reimbursable program (to Treasury and Non-Treasury agencies) 30 26 23



10.00 Total new obligations 248 356 297

Budgetary resources available for obligation:
22.00 New budget authority (gross) 279 356 297
23.95 Total new obligations -248 -356 -297
23.98 Unobligated balance expiring or withdrawn -30

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 279 356 297

Change in obligated balances:
72.40 Obligated balance, start of year 158 71
73.10 Total new obligations 248 356 297
73.20 Total outlays (gross) -90 -443 -309



74.40 Obligated balance, end of year 158 71 59

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 90 285 238
86.98 Outlays from mandatory balances 158 71



87.00 Total outlays (gross) 90 443 309

Net budget authority and outlays:
89.00 Budget authority 279 356 297
90.00 Outlays 90 443 309

The Emergency Economic Stabilization Act (EESA) of 2008 (P.L. 110343) authorized the establishment of the Troubled Asset Relief Program (TARP) and the Office of Financial Stability (OFS) to purchase and insure certain types of troubled assets for the purpose of providing stability to and preventing disruption in the economy and financial systems and protecting taxpayers. The Act gives the Treasury Secretary broad and flexible authority to purchase and insure mortgage and other troubled assets, as well as inject capital by taking limited equity positions, as needed to stabilize the financial markets. This account provides for the administrative costs for the OFS.

Object Classification (in millions of dollars)


Identification code 20-0128-0-1-376 2009 actual 2010 est. 2011 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 10 30 33
12.1 Civilian personnel benefits 2 8 9
21.0 Travel and transportation of persons 1 1
25.2 Other services 193 274 216
31.0 Equipment 1 1



99.0 Direct obligations 205 314 260
99.0 Reimbursable obligations 43 42 37



99.9 Total new obligations 248 356 297

Employment Summary


Identification code 20-0128-0-1-376 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 86 260 271

Troubled Asset Relief Program Account

Program and Financing (in millions of dollars)


Identification code 20-0132-0-1-376 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct program activity 40,235 3,000
00.03 Subsidy for Modifications of Direct Loans 142



10.00 Total new obligations (object class 41.0) 40,377 3,000

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 1 1
22.00 New budget authority (gross) 40,573 3,000



23.90 Total budgetary resources available for obligation 40,573 3,001 1
23.95 Total new obligations -40,377 -3,000
23.98 Unobligated balance expiring or withdrawn -195



24.40 Unobligated balance carried forward, end of year 1 1 1

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 40,573 3,000

Change in obligated balances:
72.40 Obligated balance, start of year 1,800 2,552
73.10 Total new obligations 40,377 3,000
73.20 Total outlays (gross) -38,577 -2,248 -438



74.40 Obligated balance, end of year 1,800 2,552 2,114

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 38,577 1,368
86.98 Outlays from mandatory balances 880 438



87.00 Total outlays (gross) 38,577 2,248 438

Net budget authority and outlays:
89.00 Budget authority 40,573 3,000
90.00 Outlays 38,577 2,248 438

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)


Identification code 20-0132-0-1-376 2009 actual 2010 est. 2011 est.

Direct loan levels supportable by subsidy budget authority:
115001 Automotive Industry Financing Program 68,555
115002 Term-Asset Backed Securities Loan Facility (TALF) 20,000 10,000
115004 Legacy Securities Public-Private Investment Program 4,444 15,560
115005 Other Section 101 30,000



115999 Total direct loan levels 92,999 55,560
Direct loan subsidy (in percent):
132001 Automotive Industry Financing Program 58.69 0.00 0.00
132002 Term-Asset Backed Securities Loan Facility (TALF) -104.23 0.00 0.00
132004 Legacy Securities Public-Private Investment Program -2.52 -10.85 0.00
132005 Other Section 101 0.00 10.00 0.00



132999 Weighted average subsidy rate 20.73 2.36 0.00
Direct loan subsidy budget authority:
133001 Automotive Industry Financing Program 40,235
133002 Term-Asset Backed Securities Loan Facility (TALF) -20,846
133004 Legacy Securities Public-Private Investment Program -112 -1,688
133005 Other Section 101 3,000



133999 Total subsidy budget authority 19,277 1,312
Direct loan subsidy outlays:
134001 Automotive Industry Financing Program 36,980 880
134002 Term-Asset Backed Securities Loan Facility (TALF) -96
134004 Legacy Securities Public-Private Investment Program -1,674 -22
134005 Other Section 101 1,368 438



134999 Total subsidy outlays 36,884 574 416
Direct loan downward reestimates:
137001 Automotive Industry Financing Program -15,546
137002 Term-Asset Backed Securities Loan Facility (TALF) -205



137999 Total downward reestimate budget authority -15,751

Guaranteed loan levels supportable by subsidy budget authority:
215001 Asset Guarantee Program 301,000



215999 Total loan guarantee levels 301,000
Guaranteed loan subsidy (in percent):
232001 Asset Guarantee Program -0.25 0.00 0.00



232999 Weighted average subsidy rate -0.25 0.00 0.00
Guaranteed loan subsidy budget authority:
233001 Asset Guarantee Program -752



233999 Total subsidy budget authority -752
Guaranteed loan subsidy outlays:
234001 Asset Guarantee Program -1,027 -1,418



234999 Total subsidy outlays -1,027 -1,418
Guaranteed loan downward reestimates:
237001 Asset Guarantee Program -569



237999 Total downward reestimate subsidy budget authority -569

As authorized by the Emergency Economic Stabilization Act of 2008 (EESA) (P.L. 110-343) and required by the Federal Credit Reform Act of 1990, as amended, this account records the subsidy costs associated with the TARP direct loans obligated and loan guarantees committed in 2008 and beyond (including modifications of direct loans or loan guarantees that resulted from obligations or commitments in any year). The subsidy amounts are estimated on a present value basis using a risk-adjusted discount rate, as required by the 2008 Act. The direct loan programs serviced by this account include the Automotive Industry Financing Program (AIFP), Term-Asset Backed Securities Loan Facility (TALF), Public-Private Investment Program (PPIP) and other EESA Section 101 loans. The AIFP was developed to prevent a significant disruption of the American automotive industry, which would pose a systemic risk to financial market stability and have a negative effect on the economy of the United States. The TALF was developed to stimulate investor demand for certain types of eligible asset-backed securities, specifically those backed by loans to consumers and small businesses, and ultimately, bring down the cost and increase the availability of new credit to consumers and businesses. The PPIP was developed to improve the condition of financial institutions by facilitating the removal of legacy assets from their balance sheets. The guaranteed loan commitments that were serviced by this account include the Asset Guarantee Program (AGP). The AGP provided guarantees for assets held by systemically significant financial institutions (Bank of America and Citigroup) that faced a risk of losing market confidence due in large part to a portfolio of distressed or illiquid assets. In May 2009, Bank of America announced its intention to terminate negotiations with respect to the loss-sharing arrangement, and in September 2009, Treasury, the Federal Reserve, the FDIC, and Bank of America entered into a termination agreement. On December 23, 2009, the Citigroup guarantee was terminated. With this termination, the AGP will result in net positive returns to the taxpayer.

Funding shown for other Section 101 loans in 2010 represent placeholders for potential future programs created under the TARP. On December 9, 2009, and as authorized by EESA, the Secretary of the Treasury certified to Congress that an extension of TARP purchase authority until October 3, 2010, was necessary "to assist American families and stabilize financial markets because it will, among other things, enable us to continue to implement programs that address housing markets and the needs of small businesses, and to maintain the capacity to respond to unforeseen threats." For more details, please see the Financial Stabilization and Their Budgetary Effects chapter in Analytical Perspectives.

Troubled Asset Relief Program Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20-4277-0-3-376 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct Loan Obligations 92,999 55,560
00.02 Interest paid to Treasury 738 8,282 8,587
00.03 Modification savings 1,589



00.91 Direct Program by Activities - Subtotal (1 level) 95,326 63,842 8,587
08.01 Payment of Negative Subsidy 20,958 1,688
08.02 Payment of downward reestimate to receipt account 13,557
08.04 Payment of excess interest earned to receipt account 2,195



08.91 Direct Program by Activities - Subtotal (1 level) 20,958 17,440



10.00 Total new obligations 116,284 81,282 8,587

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 8,578
22.00 New financing authority (gross) 116,284 89,860 9,942



23.90 Total budgetary resources available for obligation 116,284 89,860 18,520
23.95 Total new obligations -116,284 -81,282 -8,587



24.40 Unobligated balance carried forward, end of year 8,578 9,933

New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow 72,840 77,004 3,007
69.00 Offsetting collections 42,036 12,103 7,442
69.10 Change in uncollected customer payments from Federal sources (unexpired) 1,800 753 -438
69.47 Portion applied to repay debt -392 -69



69.90 Spending authority from offsetting collections (total mandatory) 43,444 12,856 6,935



70.00 Total new financing authority (gross) 116,284 89,860 9,942

Change in obligated balances:
72.40 Obligated balance, start of year 48,550 59,444
73.10 Total new obligations 116,284 81,282 8,587
73.20 Total financing disbursements (gross) -65,934 -69,635 -13,594
74.00 Change in uncollected customer payments from Federal sources (unexpired) -1,800 -753 438



74.40 Obligated balance, end of year 48,550 59,444 54,875

Outlays (gross), detail:
87.00 Total financing disbursements (gross) 65,934 69,635 13,594

Offsets:
Against gross financing authority and financing disbursements:
Offsetting collections (cash) from:
88.00 Federal sources -38,577 -2,247 -438
88.25 Interest on uninvested funds -1,057
88.40 Principal -2,141 -1,529 -2,696
88.40 Interest -246 -1,025 -1,958
88.40 Recoveries -15 -7,302 -2,350



88.90 Total, offsetting collections (cash) -42,036 -12,103 -7,442
Against gross financing authority only:
88.95 Change in receivables from program accounts -1,800 -753 438

Net financing authority and financing disbursements:
89.00 Financing authority 72,448 77,004 2,938
90.00 Financing disbursements 23,898 57,532 6,152

Status of Direct Loans (in millions of dollars)


Identification code 20-4277-0-3-376 2009 actual 2010 est. 2011 est.

Position with respect to appropriations act limitation on obligations:
1111 Limitation on direct loans
1131 Direct loan obligations exempt from limitation 92,999 55,560



1150 Total direct loan obligations 92,999 55,560

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 60,478 100,991
1231 Disbursements: Direct loan disbursements 63,502 43,929 4,985
1251 Repayments: Repayments and prepayments -2,141 -1,529 -2,696
1263 Write-offs for default: Direct loans -1,887 -30,163
1264 Other adjustments, net (+ or -) -883



1290 Outstanding, end of year 60,478 100,991 73,117

As authorized by Emergency Economic Stabilization Act of 2008 (P.L. 110-343) and required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from direct loans obligated in 2008 and beyond (including modifications of direct loans that resulted from obligations in any year). The amounts in this account are a means of financing and are not included in the budget totals. For more details, please see the Financial Stabilization and Their Budgetary Effects chapter in Analytical Perspectives.

Balance Sheet (in millions of dollars)


Identification code 20-4277-0-3-376 2008 actual 2009 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 2,756
Non-Federal assets:
1201 Investments in non-Federal securities, net 884
1201 Investments in non-Federal securities, net 1,123
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 60,478
1405 Allowance for subsidy cost (-) -27,735


1499 Net present value of assets related to direct loans 32,743


1999 Total assets 37,506
LIABILITIES:
Federal liabilities:
2104 Resources payable to Treasury 26,653
2105 Other 10,853


2999 Total liabilities 37,506


4999 Total liabilities and net position 37,506

Troubled Assets Insurance Financing Fund Guaranteed Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20-4276-0-3-376 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.02 Interest on Treasury Borrowings 22 236 215
00.03 Payment of Bank of America receipt 275
00.04 Subsidy for Modifications of Guaranteed Loans 1,418



00.91 Direct Program by Activities - Subtotal (1 level) 297 1,654 215
08.01 Negative Subsidy 752
08.02 Payment of downward reestimate to receipt account 517
08.04 Payment of excess interest earned to receipt account 53



08.91 Direct Program by Activities - Subtotal (1 level) 752 570



10.00 Total new obligations 1,049 2,224 215

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 182 469
22.00 New financing authority (gross) 1,231 2,511 361



23.90 Total budgetary resources available for obligation 1,231 2,693 830
23.95 Total new obligations -1,049 -2,224 -215



24.40 Unobligated balance carried forward, end of year 182 469 615

New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow 774 1,986
69.00 Offsetting collections (cash) 457 525 361



70.00 Total new financing authority (gross) 1,231 2,511 361

Change in obligated balances:
73.10 Total new obligations 1,049 2,224 215
73.20 Total financing disbursements (gross) -1,049 -2,224 -215

Outlays (gross), detail:
87.00 Total financing disbursements (gross) 1,049 2,224 215

Offsets:
Against gross financing authority and financing disbursements:
Offsetting collections (cash) from:
88.25 Interest on uninvested funds -6
88.40 Fees -451
88.40 Cash from the Sale of Warrants -525 -361



88.90 Total, offsetting collections (cash) -457 -525 -361

Net financing authority and financing disbursements:
89.00 Financing authority 774 1,986
90.00 Financing disbursements 592 1,699 -146

Status of Guaranteed Loans (in millions of dollars)


Identification code 20-4276-0-3-376 2009 actual 2010 est. 2011 est.

Position with respect to appropriations act limitation on commitments:
2111 Limitation on guaranteed loans made by private lenders
2131 Guaranteed loan commitments exempt from limitation 301,000



2150 Total guaranteed loan commitments 301,000

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 251,400
2231 Disbursements of new guaranteed loans 301,000
2251 Repayments and prepayments -37,100
2264 Other adjustments, net -12,500 -251,400



2290 Outstanding, end of year 251,400

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 5,000

As authorized by Emergency Economic Stabilization Act of 2008 (P.L. 110-343) and required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from loan guarantees committed in 2008 and beyond (including modifications of loan guarantees that resulted from commitments in any year). The amounts in this account are a means of financing and are not included in the budget totals. For more details, please see the Financial Stabilization Efforts and Their Budgetary Effects chapter in Analytical Perspectives.

Balance Sheet (in millions of dollars)


Identification code 20-4276-0-3-376 2008 actual 2009 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 182
1201 Non-Federal assets: Investments in non-Federal securities, net 4,034


1999 Total assets 4,216
LIABILITIES:
Federal liabilities:
2103 Debt 774
2105 Other 1,173
2204 Non-Federal liabilities: Liabilities for loan guarantees 2,269


2999 Total liabilities 4,216


4999 Total upward reestimate subsidy BA [20-0132] 4,216

Troubled Asset Relief Program Equity Purchase Program

Program and Financing (in millions of dollars)


Identification code 20-0134-0-1-376 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct Loan Subsidy 140,422 3,129
00.03 Subsidy Modification 1,999 1,498



10.00 Total new obligations (object class 33.0) 142,421 4,627

Budgetary resources available for obligation:
22.00 New budget authority (gross) 151,955 4,627
23.95 Total new obligations -142,421 -4,627
23.98 Unobligated balance expiring or withdrawn -9,534



24.40 Unobligated balance carried forward, end of year

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 151,955 4,627

Change in obligated balances:
72.40 Obligated balance, start of year 27,128 606
73.10 Total new obligations 142,421 4,627
73.20 Total outlays (gross) -115,293 -31,149 -59



74.40 Obligated balance, end of year 27,128 606 547

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 115,293 4,439
86.98 Outlays from mandatory balances 26,710 59



87.00 Total outlays (gross) 115,293 31,149 59

Net budget authority and outlays:
89.00 Budget authority 151,955 4,627
90.00 Outlays 115,293 31,149 59

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)


Identification code 20-0134-0-1-376 2009 actual 2010 est. 2011 est.

Direct loan levels supportable by subsidy budget authority:
115001 Capital Purchase Program 204,618 3,382
115002 AIG Investments 69,835
115003 Targeted Investment Program 40,000
115004 Automotive Industry Financing Program (Equity) 12,500 3,790
115005 Legacy Securities Public-Private Investment Program 2,222 7,780



115999 Total direct loan levels 329,175 14,952
Direct loan subsidy (in percent):
132001 Capital Purchase Program 27.13 5.77 0.00
132002 AIG Investments 82.74 0.00 0.00
132003 Targeted Investment Program 48.85 0.00 0.00
132004 Automotive Industry Financing Program (Equity) 54.52 30.25 0.00
132005 Legacy Securities Public-Private Investment Program 34.62 22.97 0.00



132999 Weighted average subsidy rate 42.66 20.92 0.00
Direct loan subsidy budget authority:
133001 Capital Purchase Program 55,514 195
133002 AIG Investments 57,783
133003 Targeted Investment Program 19,540
133004 Automotive Industry Financing Program (Equity) 6,815 1,146
133005 Legacy Securities Public-Private Investment Program 769 1,787



133999 Total subsidy budget authority 140,421 3,128
Direct loan subsidy outlays:
134001 Capital Purchase Program 57,386 195
134002 AIG Investments 31,552 26,357
134003 Targeted Investment Program 19,540
134004 Automotive Industry Financing Program (Equity) 6,815 2,645
134005 Legacy Securities Public-Private Investment Program 1,952 59



134999 Total subsidy outlays 115,293 31,149 59
Direct loan downward reestimates:
137001 Capital Purchase Program -61,261
137002 AIG Investments -9,762
137003 Targeted Investment Program -23,623
137004 Automotive Industry Financing Program (Equity) -3,565



137999 Total downward reestimate budget authority -98,211

As authorized by Emergency Economic Stabilization Act of 2008 (P.L. 110-343) and required by the Federal Credit Reform Act of 1990, as amended, this account records the subsidy costs associated with the equity purchase obligations committed in 2008 and beyond (including modifications of equity purchases that resulted from obligations in any year). The subsidy amounts are estimated on a present value basis. The equity purchase programs serviced by this account include the Capital Purchase Program (CPP), American International Group Investment Program. (AIGP), Targeted Investment Program (TIP), Automotive Industry Financing Program (AIFP), and Public-Private Investment Program (PPIP). The purpose of the CPP is to stabilize the financial system by building the capital base of healthy, viable U.S. financial institutions, which in turn will increase the capacity of those institutions to lend to businesses and consumers and support the economy. The AIGP is intended to provide stability and prevent disruptions to financial markets from the failure of a systemically significant institution. The AIFP was developed to prevent a significant disruption of the American automotive industry, which would pose a systemic risk to financial market stability and have a negative effect on the economy of the United States. The PPIP was developed to improve the condition of financial institutions by facilitating the removal of legacy assets from their balance sheets. For more details, please see the Financial Stabilization and Their Budgetary Effects chapter in Analytical Perspectives.

Troubled Asset Relief Program Equity Purchase Financing Account

Program and Financing (in millions of dollars)


Identification code 20-4278-0-3-376 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct program activity 329,175 14,952
00.02 Interest on Treasury Borrowing 5,676 15,275 11,762



00.91 Subtotal Direct Program by Activities 334,851 30,227 11,762
08.02 Downward reestimates paid to receipt accounts 90,600
08.04 Interest on downward reestimates 7,612



08.91 Subtotal Reestimate Activities 98,212



10.00 Total new obligations 334,851 128,439 11,762

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 8,762 25,070
22.00 New financing authority (gross) 343,613 144,747 18,215



23.90 Total budgetary resources available for obligation 343,613 153,509 43,285
23.95 Total new obligations -334,851 -128,439 -11,762



24.40 Unobligated balance carried forward, end of year 8,762 25,070 31,523

New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow 187,773 32,918 1,040
69.00 Offsetting collections (cash) 200,579 154,702 27,147
69.10 Change in uncollected customer payments from Federal sources (unexpired) 27,127 -26,523 -59
69.47 Portion applied to repay debt -71,866 -16,350 -9,913



69.90 Spending authority from offsetting collections (total mandatory) 155,840 111,829 17,175



70.00 Total new financing authority (gross) 343,613 144,747 18,215

Change in obligated balances:
72.40 Obligated balance, start of year 1,725 1,416
73.10 Total new obligations 334,851 128,439 11,762
73.20 Total financing disbursements (gross) -305,999 -155,271 -11,945
74.00 Change in uncollected customer payments from Federal sources (unexpired) -27,127 26,523 59



74.40 Obligated balance, end of year 1,725 1,416 1,292

Outlays (gross), detail:
87.00 Total financing disbursements (gross) 305,999 155,271 11,945

Offsets:
Against gross financing authority and financing disbursements:
Offsetting collections (cash) from:
88.00 Federal sources -115,293 -31,150 -59
88.25 Interest on uninvested funds -2,585
88.40 Dividends -9,083 -7,063 -5,866
88.40 Warrants -2,901 -16,050 -11,308
88.40 Redemption -70,717 -100,439 -9,914



88.90 Total, offsetting collections (cash) -200,579 -154,702 -27,147
Against gross financing authority only:
88.95 Change in receivables from program accounts -27,127 26,523 59

Net financing authority and financing disbursements:
89.00 Financing authority 115,907 16,568 -8,873
90.00 Financing disbursements 105,420 569 -15,202

Status of Direct Loans (in millions of dollars)


Identification code 20-4278-0-3-376 2009 actual 2010 est. 2011 est.

Position with respect to appropriations act limitation on obligations:
1111 Limitation on direct loans
1131 Direct loan obligations exempt from limitation 329,175 14,952



1150 Total direct loan obligations 329,175 14,952

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 229,606 170,951
1231 Disbursements: Direct loan disbursements 300,323 41,784 183
1251 Repayments: Repayments and prepayments -70,717 -100,439 -9,914
1263 Write-offs for default: Direct loans -75



1290 Outstanding, end of year 229,606 170,951 161,145

As authorized by Emergency Economic Stabilization Act of 2008 (P.L. 110-343) and required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from equity purchases obligated in 2008 and beyond (including modifications of equity purchases that resulted from obligations in any year). The amounts in this account are a means of financing and are not included in the budget totals. For more details, please see the Financial Stabilization and Their Budgetary Effects chapter in Analytical Perspectives.

Balance Sheet (in millions of dollars)


Identification code 20-4278-0-3-376 2008 actual 2009 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 10,487
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 204,606
1401 Direct loans receivable, gross 25,000
1405 Allowance for subsidy cost (-) -12,648
1405 Allowance for subsidy cost (-) -13,817


1499 Net present value of assets related to direct loans 203,141


1999 Total assets 213,628
LIABILITIES:
Federal liabilities:
2103 Debt 115,907
2105 Other 97,721


2999 Total liabilities 213,628


4999 Total Liabilities and Net Position[20-0134] 213,628

Troubled Asset Relief Program, Home Affordable Modification Program

Program and Financing (in millions of dollars)


Identification code 20-0136-0-1-604 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Home Affordable Modification Program 27,066 21,690



10.00 Total new obligations (object class 33.0) 27,066 21,690

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 18,395
22.00 New budget authority (gross) 45,461 3,295



23.90 Total budgetary resources available for obligation 45,461 21,690
23.95 Total new obligations -27,066 -21,690



24.40 Unobligated balance carried forward, end of year 18,395

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 45,461 3,295

Change in obligated balances:
72.40 Obligated balance, start of year 27,065 37,633
73.10 Total new obligations 27,066 21,690
73.20 Total outlays (gross) -1 -11,122 -10,259



74.40 Obligated balance, end of year 27,065 37,633 27,374

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 1
86.98 Outlays from mandatory balances 11,122 10,259



87.00 Total outlays (gross) 1 11,122 10,259

Net budget authority and outlays:
89.00 Budget authority 45,461 3,295
90.00 Outlays 1 11,122 10,259

The Housing Affordable Modification Program (HAMP) was launched in March 2009 under the authorithy of Sections 101 and 109 of the Emergency Economic Stabilization Act of 2008 (P.L. 110-343). The program offers assistance to as many as 3 to 4 million homeowners making a good-faith effort to stay current on their mortgage payments, while attempting to prevent the destructive impact of foreclosures on families and communities. As of November 30, 2009, 78 mortgage servicers signed up to participate in the HAMP, over one million trial modifications have been extended to borrowers, and over 725,000 trial modifications were underway. For more details, please see the Financial Stabilization Efforts and their Budgetary Effects Chapter in Analytical Perspectives.

special inspector general for the troubled asset relief program

salaries and expenses

For necessary expenses of the Office of the Special Inspector General in carrying out the provisions of the Emergency Economic Stabilization Act of 2008 (Public Law 110-343), as amended, [$23,300,000] $49,600,000. (Department of the Treasury Appropriations Act, 2010.)

Program and Financing (in millions of dollars)


Identification code 20-0133-0-1-376 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct program activity 20 58 55



10.00 Total new obligations 20 58 55

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 45 10
22.00 New budget authority (gross) 65 23 50



23.90 Total budgetary resources available for obligation 65 68 60
23.95 Total new obligations -20 -58 -55



24.40 Unobligated balance carried forward, end of year 45 10 5

New budget authority (gross), detail:
Discretionary:
40.00 Appropriation 23 50
Mandatory:
60.00 Appropriation 65



70.00 Total new budget authority (gross) 65 23 50

Change in obligated balances:
72.40 Obligated balance, start of year 8 11
73.10 Total new obligations 20 58 55
73.20 Total outlays (gross) -12 -55 -56



74.40 Obligated balance, end of year 8 11 10

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 18 40
86.93 Outlays from discretionary balances 5
86.97 Outlays from new mandatory authority 12
86.98 Outlays from mandatory balances 37 11



87.00 Total outlays (gross) 12 55 56

Net budget authority and outlays:
89.00 Budget authority 65 23 50
90.00 Outlays 12 55 56

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) was created by the Emergency Economic Stabilization Act of 2008 (EESA). SIGTARP has the duty to conduct, supervise, and coordinate audits and investigations of all activities under the Troubled Asset Relief Program (TARP). SIGTARP's mission is to advance the goal of economic stability through transparency, coordinated oversight, and robust enforcement of TARP funding, thereby being a voice for, and protecting the interests of, those who fund the TARP programs —- the American taxpayers.

In 2011, SIGTARP will continue to design and conduct programmatic audits of Treasury's TARP operations, as well as recipients' compliance with their obligations under relevant law and contract. SIGTARP will also continue to conduct and supervise criminal and civil investigations into any parties suspected of TARP-related fraud, waste, or abuse.

Object Classification (in millions of dollars)


Identification code 20-0133-0-1-376 2009 actual 2010 est. 2011 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 3 16 18
11.3 Other than full-time permanent 1
11.5 Other personnel compensation 2 3



11.9 Total personnel compensation 4 18 21
12.1 Civilian personnel benefits 1 5 7
21.0 Travel and transportation of persons 4 4
23.1 Rental payments to GSA 3 2
23.3 Communications, utilities, and miscellaneous charges 2 1
25.1 Advisory and assistance services 6 9 7
25.2 Other services 3 2
25.3 Other purchases of goods and services from Government accounts 9 10 8
31.0 Equipment 4 3



99.9 Total new obligations 20 58 55

Employment Summary


Identification code 20-0133-0-1-376 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 29 133 160

GSE Preferred Stock Purchase Agreements

Program and Financing (in millions of dollars)


Identification code 20-0125-0-1-371 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct program activity 95,600 69,000 23,000



10.00 Total new obligations (object class 33.0) 95,600 69,000 23,000

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 304,400 235,400
21.45 Adjustments to unobligated balance carried forward, start of year 200,000
22.00 New budget authority (gross) 200,000



23.90 Total budgetary resources available for obligation 400,000 304,400 235,400
23.95 Total new obligations -95,600 -69,000 -23,000



24.40 Unobligated balance carried forward, end of year 304,400 235,400 212,400

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 200,000

Change in obligated balances:
73.10 Total new obligations 95,600 69,000 23,000
73.20 Total outlays (gross) -95,600 -69,000 -23,000

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 95,600
86.98 Outlays from mandatory balances 69,000 23,000



87.00 Total outlays (gross) 95,600 69,000 23,000

Net budget authority and outlays:
89.00 Budget authority 200,000
90.00 Outlays 95,600 69,000 23,000

Section 1117 of the Housing and Economic Recovery Act of 2008 (P.L. 110-289) provides temporary authority for the Secretary of the Treasury to purchase obligations and other securities issued by three housing related Government- sponsored enterprises (GSEs): Fannie Mae, Freddie Mac and the Federal Home Loan Banks (FHLBs). Under this authority, in 2008 Treasury entered into agreements with Fannie Mae and Freddie Mac to make investments of up to $100 billion in senior preferred stock in each GSE in order to ensure that each company maintains a positive net worth. These Senior Preferred Stock Purchase Agreements (PSPAs) ensure that Fannie Mae and Freddie Mac will remain viable entities critical to the functioning of the housing and mortgage markets, thereby promoting mortgage affordability by providing additional confidence to investors in GSE mortgage-backed securities. In May 2009, Treasury increased the PSPA funding commitments to allow investments of up to $200 billion in each GSE and on December 24, 2009, Treasury announced that the PSPAs would be further modified to allow for additional funding in the event that cumulative losses at either enterprise exceed $200 billion before December 31, 2012. As of December 31, 2009, Treasury had made payments of $110.6 billion under the PSPAs and received $6.8 billion in scheduled dividend payments.

GSE Mortgage-Backed Securities Purchase Program Account

Program and Financing (in millions of dollars)


Identification code 20-0126-0-1-371 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.10 Financial Agent Services 12 36 25



10.00 Total new obligations (object class 25.1) 12 36 25

Budgetary resources available for obligation:
22.00 New budget authority (gross) 19 36 25
23.95 Total new obligations -12 -36 -25
23.98 Unobligated balance expiring or withdrawn -8

New budget authority (gross), detail:
Mandatory:
62.00 Transferred from other accounts 19 36 25

Change in obligated balances:
73.10 Total new obligations 12 36 25
73.20 Total outlays (gross) -12 -36 -25

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 12 36 25

Net budget authority and outlays:
89.00 Budget authority 19 36 25
90.00 Outlays 12 36 25

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)


Identification code 20-0126-0-1-371 2009 actual 2010 est. 2011 est.

Direct loan levels supportable by subsidy budget authority:
115001 GSE MBS Purchases 190,574 29,878
115002 New Issue Bond Program SF 12,433
115003 New Issue Bond Program MF 2,876
115004 Temporary Credit and Liquidity Program SF 6,996
115005 Temporary Credit and Liquidity Program MF 1,214



115999 Total direct loan levels 190,574 53,397
Direct loan subsidy (in percent):
132001 GSE MBS Purchases -2.36 -3.73 0.00
132002 New Issue Bond Program SF 0.00 -0.05 0.00
132003 New Issue Bond Program MF 0.00 -2.55 0.00
132004 Temporary Credit and Liquidity Program SF 0.00 -7.34 0.00
132005 Temporary Credit and Liquidity Program MF 0.00 -6.86 0.00



132999 Weighted average subsidy rate -2.36 -3.35 0.00
Direct loan subsidy budget authority:
133001 GSE MBS Purchases -4,498 -1,114
133002 New Issue Bond Program SF -6
133003 New Issue Bond Program MF -73
133004 Temporary Credit and Liquidity Program SF -514
133005 Temporary Credit and Liquidity Program MF -83



133999 Total subsidy budget authority -4,498 -1,791
Direct loan subsidy outlays:
134001 GSE MBS Purchases -4,500 -1,114
134002 New Issue Bond Program SF -3
134003 New Issue Bond Program MF -21
134004 Temporary Credit and Liquidity Program SF -283
134005 Temporary Credit and Liquidity Program MF -67



134999 Total subsidy outlays -4,500 -1,488
Direct loan downward reestimates:
137001 GSE MBS Purchases -8,391



137999 Total downward reestimate budget authority -8,391

In September 2008, Treasury initiated a temporary program to purchase mortgage-backed securites (MBS) issued by Fannie Mae and Freddie Mac, which carry the GSEs standard guarantee against default. The purpose of the program was to promote liquidity in the mortgage market and, thereby, affordable homeownership by stabilizing the interest rate spreads between mortgage rates and Treasury issuances. Treasury purchased $225 billion in MBS through December 31, 2009.

In December 2009, Treasury initiated two additional purchase programs to support state and local Housing Financing Agencies (HFAs). The Temporary Credit and Liquidiy Program (TCLP) will provide HFAs with credit and liquidity facilities supporting up to $8.2 billion in existing HFA bonds, temporally replacing private market facilities that are expiring or imposing unusually high costs to the HFAs due to current market conditions. Under the New Issuance Bond Program (NIBP) Treasury will purchase up to $15.3 billion in securities of Fannie Mae and Freddie Mac backed by new HFA housing bonds, supporting up to several hundred thousand new affordable mortgages and tens of thousands of new affordable rental housing units for working families. The authority for all of the programs displayed in this account was provided in Section 1117 of the Housing and Economic Recovery Act of 2008 (P.L. 110-289) and expired on December 31, 2009.

As required by the Federal Credit Reform Act of 1990, this account records, the subsidy costs associated with the GSE MBS and State HFA purchase programs, which are treated as direct loans for budget execution. The subsidy amounts are estimated on a present value basis.

GSE Mortgage-Backed Securities Purchase Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20-4272-0-3-371 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct program activity 190,574 29,878
00.02 Interest paid to Treasury 5,569 13,122 6,512



00.91 Subtotal Direct Program by Activities 196,143 43,000 6,512
08.01 Payment of subsidy to receipt account 4,498 1,114
08.02 Downward reestimate 8,165
08.04 Interest on downward reestimate 226



08.91 Subtotal Reestimate Activities 4,498 9,505



10.00 Total new obligations 200,641 52,505 6,512

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 335 32,884
22.00 New financing authority (gross) 233,190 73,077 6,512
22.60 Portion applied to repay debt -53,456



23.90 Total budgetary resources available for obligation 233,525 52,505 6,512
23.95 Total new obligations -200,641 -52,505 -6,512



24.40 Unobligated balance carried forward, end of year 32,884

New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow 203,501 73,077
69.00 Offsetting collections (cash) 29,689 49,103 42,481
69.47 Portion applied to repay debt -49,103 -35,969



69.90 Spending authority from offsetting collections (total mandatory) 29,689 6,512



70.00 Total new financing authority (gross) 233,190 73,077 6,512

Change in obligated balances:
72.40 Obligated balance, start of year 6 5
73.10 Total new obligations 200,641 52,505 6,512
73.20 Total financing disbursements (gross) -200,642 -52,510 -6,512



74.40 Obligated balance, end of year 5

Outlays (gross), detail:
87.00 Total financing disbursements (gross) 200,642 52,510 6,512

Offsets:
Against gross financing authority and financing disbursements:
Offsetting collections (cash) from:
88.25 Interest on uninvested funds -2,450 -2,337
88.40 Non-Federal sources- Interest -5,001 -6,821 -10,404
88.40 Non-Federal sources - Principal -22,238 -39,945 -32,077



88.90 Total, offsetting collections (cash) -29,689 -49,103 -42,481

Net financing authority and financing disbursements:
89.00 Financing authority 203,501 23,974 -35,969
90.00 Financing disbursements 170,953 3,407 -35,969

Status of Direct Loans (in millions of dollars)


Identification code 20-4272-0-3-371 2009 actual 2010 est. 2011 est.

Position with respect to appropriations act limitation on obligations:
1111 Limitation on direct loans
1131 Direct loan obligations exempt from limitation 190,574 29,878



1150 Total direct loan obligations 190,574 29,878

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 3,311 185,696 175,629
1231 Disbursements: Direct loan disbursements 190,574 29,878
1251 Repayments: Repayments and prepayments -8,189 -39,945 -32,077



1290 Outstanding, end of year 185,696 175,629 143,552

As required by the Federal Credit Reform Act of 1990, this non-budgetary account records all cash flows to and from the Government resulting from GSE MBS Purchase Program purchases. The amounts in the account are a means of financing and are not included in the budget totals.

Balance Sheet (in millions of dollars)


Identification code 20-4272-0-3-371 2008 actual 2009 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 341 32,889
1207 Non-Federal assets: Advances and prepayments 1,689
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 3,311 185,696
1405 Allowance for subsidy cost (-) 74 11,093


1499 Net present value of assets related to direct loans 3,385 196,789


1999 Total assets 5,415 229,678
LIABILITIES:
2103 Federal liabilities: Debt 5,415 229,678


2999 Total liabilities 5,415 229,678
NET POSITION:
3999 Total net position


4999 Total liabilities and net position 5,415 229,678

State HFA Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20-4298-0-3-371 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Direct Loan Obligations 23,519
00.02 Interest paid to Treasury 617



00.91 Direct Program by Activities - Subtotal (1 level) 24,136
08.01 Payment of subsidy to receipt account 676



10.00 Total new obligations 24,812

Budgetary resources available for obligation:
22.00 New financing authority (gross) 30,736
22.60 Portion applied to repay debt -5,924



23.90 Total budgetary resources available for obligation 24,812
23.95 Total new obligations -24,812



24.40 Unobligated balance carried forward, end of year

New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow 30,736
69.00 Offsetting collections (cash) 1,533 1,810
69.47 Portion applied to repay debt -1,533 -1,810



69.90 Spending authority from offsetting collections (total mandatory)



70.00 Total new financing authority (gross) 30,736

Change in obligated balances:
73.10 Total new obligations 24,812
73.20 Total financing disbursements (gross) -24,812



74.40 Obligated balance, end of year

Outlays (gross), detail:
87.00 Total financing disbursements (gross) 24,812

Offsets:
Against gross financing authority and financing disbursements:
Offsetting collections (cash) from:
88.40 Non-Federal sources - Interest -197 -503
88.40 Non-Federal sources - Principal -722 -1,268
88.40 Non-Federal sources - Other -614 -39



88.90 Total, offsetting collections (cash) -1,533 -1,810

Net financing authority and financing disbursements:
89.00 Financing authority 29,203 -1,810
90.00 Financing disbursements 23,279 -1,810

Status of Direct Loans (in millions of dollars)


Identification code 20-4298-0-3-371 2009 actual 2010 est. 2011 est.

Position with respect to appropriations act limitation on obligations:
1111 Limitation on direct loans
1131 Direct loan obligations exempt from limitation 23,519



1150 Total direct loan obligations 23,519

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 18,076
1231 Disbursements: Direct loan disbursements 18,798
1251 Repayments: Repayments and prepayments -722 -1,268



1290 Outstanding, end of year 18,076 16,808

As required by the Federal Credit Reform Act of 1990, this non-budgetary account records all cash flows to and from the Government resulting from the Treasury state HFA programs. The amounts in the account are a means of financing and are not included in the budget totals.

Trust Funds

Capital Magnet Fund, Community Develpment Financial Institutions

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20-8524-0-7-451 2009 actual 2010 est. 2011 est.

01.00 Balance, start of year



01.99 Balance, start of year
Receipts:
02.40 Payment from the Community Development Financial Institutions Fund 80



04.00 Total: Balances and collections 80
Appropriations:
05.00 Capital Magnet Fund, Community Develpment Financial Institutions -80



07.99 Balance, end of year

Program and Financing (in millions of dollars)


Identification code 20-8524-0-7-451 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Capital Magnet Fund 80



10.00 Total new obligations (object class 41.0) 80

Budgetary resources available for obligation:
22.00 New budget authority (gross) 80
23.95 Total new obligations -80

New budget authority (gross), detail:
Discretionary:
40.26 Appropriation (trust fund) 80

Change in obligated balances:
72.40 Obligated balance, start of year 40
73.10 Total new obligations 80
73.20 Total outlays (gross) -40 -40



74.40 Obligated balance, end of year 40

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 40
86.93 Outlays from discretionary balances 40



87.00 Total outlays (gross) 40 40

Net budget authority and outlays:
89.00 Budget authority 80
90.00 Outlays 40 40

The Housing and Economic Recovery Act (HERA) of 2008 (P.L. 110-289) established the Capital Magnet Fund (CMF) to assist Community Development Financial Institutions (CDFIs) and other non-profits expand financing for the development, rehabilitation and purchase of affordable housing and economic development projects in distressed communities. As authorized in HERA, CMF was to receive funding via a set-aside from Government Sponsored Enterprises; however contributions have been suspended indefinitely. The amounts in this account are transferred from the CDFI Fund program account. In FY 2011, the Administration will undertake a careful evaluation of the impact of FY 2010 funding, and future resource commitments will be informed by this analysis.

Gifts and Bequests

Program and Financing (in millions of dollars)


Identification code 20-8790-0-7-803 2009 actual 2010 est. 2011 est.

Net budget authority and outlays:
89.00 Budget authority
90.00 Outlays

Memorandum (non-add) entries:
92.01 Total investments, start of year: Federal securities: Par value 1 1
92.02 Total investments, end of year: Federal securities: Par value 1

Financial Crimes Enforcement Network

Federal Funds

salaries and expenses

For necessary expenses of the Financial Crimes Enforcement Network, including hire of passenger motor vehicles; travel and training expenses, including for course development, of non-Federal and foreign government personnel to attend meetings and training concerned with domestic and foreign financial intelligence activities, law enforcement, and financial regulation; not to exceed $14,000 for official reception and representation expenses; and for assistance to Federal law enforcement agencies, with or without reimbursement, [$111,010,000] $100,419,000, of which not to exceed $26,085,000 shall remain available until September 30, [2012] 2013; and of which [$9,316,000] $9,268,000 shall remain available until September 30, [2011] 2012: Provided, That funds appropriated in this account may be used to procure personal services contracts. (Department of the Treasury Appropriations Act, 2010.)

Program and Financing (in millions of dollars)


Identification code 20-0173-0-1-751 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 BSA administration and Analysis 77 102 91
00.02 Regulatory support programs, including money services businesses 9 9 9
09.01 Reimbursable program 7 20 20



10.00 Total new obligations 93 131 120

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 14 20 20
22.00 New budget authority (gross) 98 131 120
22.10 Resources available from recoveries of prior year obligations 1



23.90 Total budgetary resources available for obligation 113 151 140
23.95 Total new obligations -93 -131 -120



24.40 Unobligated balance carried forward, end of year 20 20 20

New budget authority (gross), detail:
Discretionary:
40.00 Appropriation 91 111 100
Spending authority from offsetting collections:
58.00 Offsetting collections (cash) 3 20 20
58.10 Change in uncollected customer payments from Federal sources (unexpired) 4



58.90 Spending authority from offsetting collections (total discretionary) 7 20 20



70.00 Total new budget authority (gross) 98 131 120

Change in obligated balances:
72.40 Obligated balance, start of year 10 9 14
73.10 Total new obligations 93 131 120
73.20 Total outlays (gross) -100 -126 -123
73.40 Adjustments in expired accounts (net) 8
73.45 Recoveries of prior year obligations -1
74.00 Change in uncollected customer payments from Federal sources (unexpired) -4
74.10 Change in uncollected customer payments from Federal sources (expired) 3



74.40 Obligated balance, end of year 9 14 11

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 75 103 95
86.93 Outlays from discretionary balances 25 23 28



87.00 Total outlays (gross) 100 126 123

Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash) from:
88.00 Federal sources -6 -20 -20
88.40 Non-Federal sources -9



88.90 Total, offsetting collections (cash) -15 -20 -20
Against gross budget authority only:
88.95 Change in uncollected customer payments from Federal sources (unexpired) -4
88.96 Portion of offsetting collections (cash) credited to expired accounts 12

Net budget authority and outlays:
89.00 Budget authority 91 111 100
90.00 Outlays 85 106 103

The mission of the Financial Crimes Enforcement Network (FinCEN) is to enhance U.S. national security, deter and detect criminal activity, and safeguard financial systems from abuse by promoting transparency in the U.S. and international financial systems. FinCEN fulfills its mission, goals and priorities by: administering the Bank Secrecy Act (BSA); supporting law enforcement, regulatory, and intelligence agencies through sharing and analysis of financial intelligence; enhancing international anti-money laundering and counter-terrorist financing efforts and cooperation; and networking people, entities, ideas, and information.

BSA Administration and Analysis.—The Budget provides resources for FinCEN to better administer the BSA, including promulgating regulations, providing outreach and issuing guidance to the regulated industries, providing oversight of BSA compliance, and initiating enforcement actions. Resources also support the continued modernization of FinCEN's data collection systems and analytic activities associated with BSA information. This modernization will provide law enforcement and financial industry regulators with better decision-making capabilities and improve government-wide efforts to detect criminal activity, including tax and financial fraud.

Regulatory Support Programs.—FinCEN will continue efforts with the IRS, especially related to the money services business industry to ensure compliance, respond to public inquiries, distribute forms and publications, and support collection and maintenance of BSA information.

Object Classification (in millions of dollars)


Identification code 20-0173-0-1-751 2009 actual 2010 est. 2011 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 32 35 37
11.5 Other personnel compensation 1 1 1



11.9 Total personnel compensation 33 36 38
12.1 Civilian personnel benefits 9 9 9
21.0 Travel and transportation of persons 1 1 1
23.1 Rental payments to GSA 5 5 5
23.3 Communications, utilities, and miscellaneous charges 1 1 1
24.0 Printing and reproduction 1 1 1
25.1 Advisory and assistance services 4 2 2
25.2 Other services 8 15 11
25.3 Other purchases of goods and services from Government accounts 14 14 14
25.4 Operation and maintenance of facilities 1 1
25.7 Operation and maintenance of equipment 7 5 5
26.0 Supplies and materials 1 1 1
31.0 Equipment 2 20 11



99.0 Direct obligations 86 111 100
99.0 Reimbursable obligations 7 20 20



99.9 Total new obligations 93 131 120

Employment Summary


Identification code 20-0173-0-1-751 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 311 331 327
Reimbursable:
2001 Civilian full-time equivalent employment 2 1 1

Financial Management Service

Federal Funds

salaries and expenses

For necessary expenses of the Financial Management Service, [$244,132,000] $235,253,000 of which not to exceed $9,220,000 shall remain available until September 30, [2012] 2013, for information systems modernization initiatives; and of which not to exceed $2,500 shall be available for official reception and representation expenses. (Department of the Treasury Appropriations Act, 2010.)

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20-1801-0-1-803 2009 actual 2010 est. 2011 est.

01.00 Balance, start of year 4



01.99 Balance, start of year 4
Receipts:
02.20 Debt Collection 93 67 67
02.21 Debt Collection - legislative proposal subject to PAYGO 30



02.99 Total receipts and collections 93 67 97



04.00 Total: Balances and collections 93 67 101
Appropriations:
05.00 Salaries and Expenses -93 -63 -63
05.01 Salaries and Expenses - legislative proposal subject to PAYGO -30



05.99 Total appropriations -93 -63 -93



07.99 Balance, end of year 4 8

Program and Financing (in millions of dollars)


Identification code 20-1801-0-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.05 Payments 143 150 143
00.06 Collections 24 22 21
00.07 Debt collection 58 63 63
00.08 Government-wide accounting and reporting 74 72 71
00.09 Payments, Tax Stimulus 1
09.01 Reimbursable program 170 172 152



10.00 Total new obligations 470 479 450

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 98 97 83
22.00 New budget authority (gross) 477 479 450
22.10 Resources available from recoveries of prior year obligations 1
22.21 Unobligated balance transferred to other accounts -8
22.30 Expired unobligated balance transfer to unexpired account 1



23.90 Total budgetary resources available for obligation 569 576 533
23.95 Total new obligations -470 -479 -450
23.98 Unobligated balance expiring or withdrawn -2 -14



24.40 Unobligated balance carried forward, end of year 97 83 83
24.51 Expired unobligated balance carried forward, start of year (special and trust funds) 2
24.52 Expired unobligated balance carried forward, end of year (special and trust funds) 3

New budget authority (gross), detail:
Discretionary:
40.00 Appropriation 240 244 235
Spending authority from offsetting collections:
58.00 Offsetting collections (cash) 142 172 152
58.10 Change in uncollected customer payments from Federal sources (unexpired) 28



58.90 Spending authority from offsetting collections (total discretionary) 170 172 152
Mandatory:
60.20 Appropriation (special fund) 93 63 63
60.36 Unobligated balance permanently reduced -26



62.50 Appropriation (total mandatory) 67 63 63



70.00 Total new budget authority (gross) 477 479 450

Change in obligated balances:
72.40 Obligated balance, start of year 64 58 52
73.10 Total new obligations 470 479 450
73.20 Total outlays (gross) -462 -485 -448
73.40 Adjustments in expired accounts (net) -10
73.45 Recoveries of prior year obligations -1
74.00 Change in uncollected customer payments from Federal sources (unexpired) -28
74.10 Change in uncollected customer payments from Federal sources (expired) 25



74.40 Obligated balance, end of year 58 52 54

Outlays (gross), detail:
86.90 Outlays from new discretionary authority 356 382 354
86.93 Outlays from discretionary balances 55 34 35
86.97 Outlays from new mandatory authority 1 5 2
86.98 Outlays from mandatory balances 50 64 57



87.00 Total outlays (gross) 462 485 448

Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash) from: Federal sources -162 -172 -152
Against gross budget authority only:
88.95 Change in uncollected customer payments from Federal sources (unexpired) -28
88.96 Portion of offsetting collections (cash) credited to expired accounts 20

Net budget authority and outlays:
89.00 Budget authority 307 307 298
90.00 Outlays 300 313 296

Summary of Budget Authority and Outlays (in millions of dollars)


2009 actual 2010 est. 2011 est.

Enacted/requested:
Budget Authority 307 307 298
Outlays 300 313 296
Legislative proposal, not subject to PAYGO:
Budget Authority
Outlays
Legislative proposal, subject to PAYGO:
Budget Authority 30
Outlays 30
Total:
Budget Authority 307 307 328
Outlays 300 313 326

For the 2011 Budget, the Financial Management Service (FMS) will focus its efforts on the following four areas:

1. Payments.—FMS develops and implements payment policy and procedures for the Federal Government, issues and distributes payments, promotes the use of electronics in the payment process, and assists agencies in converting payments from paper checks to electronic funds transfer. This includes controlling and providing financial integrity to the Federal payments and collections process through reconciliation, accounting, and claims activities. The claims activities settle claims against the United States resulting from Government checks which have been forged, lost, stolen, or destroyed, and collects monies from those parties liable for fraudulent or otherwise improper negotiation of Government checks. FMS will continue to explore ways to increase the use of electronic payments.

WORKLOAD STATISTICS (Thousands)


2009 actual 2010 est. 2011 est.

Number of check claims submitted 1,219 1,200 1,200
Number of check payments 196,686 201,380 186,442
Number of electronic payments 827,643 831,828 867,215

2. Collections.—FMS implements collections policy, regulations, standards, and procedures for the Federal Government, facilitates collections, promotes the use of information technology in the collections process, and assists agencies in converting collections from paper to electronic media.

3. Debt Collection.— FMS provides debt collection operational services to Federal Program Agencies that include collection of delinquent accounts, child support debt, offsets of Federal payments against debts owed to the Government, post-judgment enforcement, consolidation of information reported to credit bureaus, reporting for discharged debts or vendor payments, and disposition of foreclosed property. The Budget includes several debt collection legislative proposals that will improve the Government's ability to collect delinquent debt owed by Federal contractors who have not paid their taxes; parents who have not paid their child support; and individuals who are delinquent on State income taxes. The Budget also improves the application of the fee that FMS charges to cover the costs associated with collecting delinquent debt.

4. Government-wide Accounting and Reporting.—FMS provides financial accounting, reporting, and financing services to the Federal Government and the Government's agents who participate in the payments and collections process by generating a series of daily, monthly, quarterly and annual Government-wide reports. FMS also works directly with agencies to help reconcile reporting differences.

Object Classification (in millions of dollars)


Identification code 20-1801-0-1-803 2009 actual 2010 est. 2011 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 141 145 139
11.3 Other than full-time permanent 2 3 3
11.5 Other personnel compensation 4 6 5
11.8 Special personal services payments 4 4 4



11.9 Total personnel compensation 151 158 151
12.1 Civilian personnel benefits 37 39 37
13.0 Benefits for former personnel 2
21.0 Travel and transportation of persons 2 2 3
23.1 Rental payments to GSA 15 15 16
23.2 Rental payments to others 1 1 1
23.3 Communications, utilities, and miscellaneous charges 13 13 13
24.0 Printing and reproduction 1 1 1
25.1 Advisory and assistance services 8 8 8
25.2 Other services 31 31 31
25.3 Other purchases of goods and services from Government accounts 6 4 4
25.4 Operation and maintenance of facilities 1 1 1
25.7 Operation and maintenance of equipment 14 14 14
26.0 Supplies and materials 6 5 5
31.0 Equipment 13 12 12
32.0 Land and structures 2 1 1



99.0 Direct obligations 301 307 298
99.0 Reimbursable obligations 169 172 152



99.9 Total new obligations 470 479 450

Employment Summary


Identification code 20-1801-0-1-803 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 1,629 1,698 1,566
Reimbursable:
2001 Civilian full-time equivalent employment 268 285 269

Salaries and Expenses

(Legislative proposal, not subject to PAYGO)

Program and Financing (in millions of dollars)


Identification code 20-1801-2-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
09.01 Reimbursable program -30



10.00 Total new obligations (object class 11.5) -30

Budgetary resources available for obligation:
22.00 New budget authority (gross) -30
23.95 Total new obligations 30

New budget authority (gross), detail:
Discretionary:
58.00 Spending authority from offsetting collections: Offsetting collections (cash) -30

Change in obligated balances:
73.10 Total new obligations -30
73.20 Total outlays (gross) 30

Outlays (gross), detail:
86.90 Outlays from new discretionary authority -30

Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash) from: Federal sources 30

Net budget authority and outlays:
89.00 Budget authority
90.00 Outlays

Under current law, when the Financial Management Service (FMS) levies a payment to collect a delinquent tax debt referred by the Internal Revenue Service (IRS), the IRS pays a fee out of its annual appropriation to FMS to process the transaction. The Budget proposes to instead have the debtor pay the transaction costs in addition to their original debt. This would allow the IRS to refer all appropriate tax debts for offset, maximize revenue, and shift the cost of enforcement to delinquent debtors. These schedules reflect the elimination of discretionary spending and collections as a result of this proposal.

Object Classification (in millions of dollars)


Identification code 20-1801-2-1-803 2009 actual 2010 est. 2011 est.

99.0 Reimbursable obligations -30

Employment Summary


Identification code 20-1801-2-1-803 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 1
Reimbursable:
2001 Civilian full-time equivalent employment 1

Salaries and Expenses

(Legislative proposal, subject to PAYGO)

Program and Financing (in millions of dollars)


Identification code 20-1801-4-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.07 Debt collection 30



10.00 Total new obligations (object class 11.5) 30

Budgetary resources available for obligation:
22.00 New budget authority (gross) 30
23.95 Total new obligations -30

New budget authority (gross), detail:
Mandatory:
60.20 Appropriation (special fund) 30

Change in obligated balances:
73.10 Total new obligations 30
73.20 Total outlays (gross) -30

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 30

Net budget authority and outlays:
89.00 Budget authority 30
90.00 Outlays 30

Under current law, when the Financial Management Service (FMS) levies a payment to collect a delinquent tax debt referred by the Internal Revenue Service (IRS), the IRS pays a fee out of its annual appropriation to FMS to process the transaction. The Budget proposes to instead have the debtor pay the transaction costs in addition to their original debt. This would allow the IRS to refer all appropriate tax debts for offset, maximize revenue, and shift the cost of enforcement to delinquent debtors. These schedules reflect an increase in mandatory spending as a result of this proposal. This additional spending is paid for by additional collections, resulting in a net deficit impact of zero.

Employment Summary


Identification code 20-1801-4-1-803 2009 actual 2010 est. 2011 est.

Direct:
1001 Civilian full-time equivalent employment 1
Reimbursable:
2001 Civilian full-time equivalent employment 1

Payment to the Resolution Funding Corporation

Program and Financing (in millions of dollars)


Identification code 20-1851-0-1-908 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Interest on REFCORP obligations 2,120 2,189 2,628



10.00 Total new obligations (object class 41.0) 2,120 2,189 2,628

Budgetary resources available for obligation:
22.00 New budget authority (gross) 2,120 2,189 2,628
23.95 Total new obligations -2,120 -2,189 -2,628

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 2,120 2,189 2,628

Change in obligated balances:
73.10 Total new obligations 2,120 2,189 2,628
73.20 Total outlays (gross) -2,120 -2,189 -2,628

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 2,120 2,189 2,628

Net budget authority and outlays:
89.00 Budget authority 2,120 2,189 2,628
90.00 Outlays 2,120 2,189 2,628

The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 authorized and appropriated to the Secretary of the Treasury, such sums as may be necessary to cover interest payments on obligations issued by the Resolution Funding Corporation (REFCORP). REFCORP was established under the Act to raise $31.2 billion for the Resolution Trust Corporation (RTC) in order to resolve savings institution insolvencies.

Sources of payment for interest due on REFCORP obligations include REFCORP investment income, proceeds from the sale of assets or warrants acquired by the RTC, and annual contributions by the Federal Home Loan Banks. If these payment sources are insufficient to cover all interest costs, indefinite, mandatory funds appropriated to the Treasury shall be used to meet the shortfall.

Payment to Terrestrial Wildlife Habitat Restoration Trust Fund

Program and Financing (in millions of dollars)


Identification code 20-1738-0-1-306 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Cheyenne River Sioux Tribe terrestrial wildlife habitat restoration trust fund 4 4
00.02 Lower Breul Sioux Tribe terrestrial wildlife habitat restoration trust fund 1 1



10.00 Total new obligations (object class 41.0) 5 5

Budgetary resources available for obligation:
22.00 New budget authority (gross) 5 5
23.95 Total new obligations -5 -5

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 5 5

Change in obligated balances:
73.10 Total new obligations 5 5
73.20 Total outlays (gross) -5 -5

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 5 5

Net budget authority and outlays:
89.00 Budget authority 5 5
90.00 Outlays 5 5

Section 604(b) of the Water Resources Development Act of 1999 (P.L. 106-53) requires that the Secretary of the Treasury, beginning in 1999, deposit $5 million annually (74 percent into the Cheyenne River Sioux Tribe Terrestrial Wildlife Restoration Trust Fund and 26 percent into the Lower Brule Sioux Tribe Terrestrial Wildlife Restoration Trust Fund) until a total of at least $57.4 million has been deposited. At the end of 2009, $55 million in payments had been deposited in the funds. Full capitalization is expected by 2010; therefore the funds will not receive any additional payments from the Treasury in FY 2011. Tribes are now able to draw down on the interest earned from these investments.

Federal Reserve Bank Reimbursement Fund

Program and Financing (in millions of dollars)


Identification code 20-1884-0-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Federal Reserve Bank services 303 325 321



10.00 Total new obligations (object class 25.2) 303 325 321

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 1 4
22.00 New budget authority (gross) 305 321 321
22.10 Resources available from recoveries of prior year obligations 1



23.90 Total budgetary resources available for obligation 307 325 321
23.95 Total new obligations -303 -325 -321



24.40 Unobligated balance carried forward, end of year 4

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 305 321 321

Change in obligated balances:
72.40 Obligated balance, start of year 78 76 84
73.10 Total new obligations 303 325 321
73.20 Total outlays (gross) -304 -317 -325
73.45 Recoveries of prior year obligations -1



74.40 Obligated balance, end of year 76 84 80

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 241 245
86.98 Outlays from mandatory balances 304 76 80



87.00 Total outlays (gross) 304 317 325

Net budget authority and outlays:
89.00 Budget authority 305 321 321
90.00 Outlays 304 317 325

This fund was established by the Treasury and General Government Appropriations Act, 1998, Title I, (P.L. 105-61, 111 Stat. 1276) as a permanent, indefinite appropriation to reimburse Federal Reserve Banks for services provided in their capacity as depositaries and fiscal agents for the United States.

Financial Agent Services

Program and Financing (in millions of dollars)


Identification code 20-1802-0-1-803 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Financial agent services 568 597 600



10.00 Total new obligations (object class 25.1) 568 597 600

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 13 1
22.00 New budget authority (gross) 556 596 600



23.90 Total budgetary resources available for obligation 569 597 600
23.95 Total new obligations -568 -597 -600



24.40 Unobligated balance carried forward, end of year 1

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 575 632 625
61.00 Transferred to other accounts -19 -36 -25



62.50 Appropriation (total mandatory) 556 596 600

Change in obligated balances:
72.40 Obligated balance, start of year 56 57 57
73.10 Total new obligations 568 597 600
73.20 Total outlays (gross) -567 -597 -600



74.40 Obligated balance, end of year 57 57 57

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 541 543
86.98 Outlays from mandatory balances 567 56 57



87.00 Total outlays (gross) 567 597 600

Net budget authority and outlays:
89.00 Budget authority 556 596 600
90.00 Outlays 567 597 600

This permanent, indefinite appropriation was established to reimburse financial institutions for the services they provide as depositaries and financial agents of the Federal Government. The services include the acceptance and processing of deposits of public money, as well as services essential to the disbursement of and accounting for public monies. The services provided are authorized under numerous statutes including, but not limited to, 12 U.S.C. 90 and 265. This permanent, indefinite appropriation is authorized by P.L. 108-100, the "Check Clearing for the 21st Century Act,'' and permanently appropriated by P.L. 108-199, the "Consolidated Appropriations Act of 2004.'' Additionally, financial agent administrative and financial analysis costs for the Government Sponsored Enterprise Mortgage Backed Securities Purchase Program and State Housing Finance Agency program are reimbursed from this account.

Interest on Uninvested Funds

Program and Financing (in millions of dollars)


Identification code 20-1860-0-1-908 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Interest of uninvested funds 9 8 8



10.00 Total new obligations (object class 43.0) 9 8 8

Budgetary resources available for obligation:
22.00 New budget authority (gross) 9 8 8
23.95 Total new obligations -9 -8 -8

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 9 8 8

Change in obligated balances:
72.40 Obligated balance, start of year 19 21 21
73.10 Total new obligations 9 8 8
73.20 Total outlays (gross) -7 -8 -8



74.40 Obligated balance, end of year 21 21 21

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 8 8
86.98 Outlays from mandatory balances 7



87.00 Total outlays (gross) 7 8 8

Net budget authority and outlays:
89.00 Budget authority 9 8 8
90.00 Outlays 7 8 8

This account was established for the purpose of paying interest on certain uninvested funds placed in trust in the Treasury in accordance with various statutes (31 U.S.C. 1321; 2 U.S.C. 158 (P.L. 94-289); 20 U.S.C. 74a (P.L. 94-418) and 101; 24 U.S.C. 46 (P.L. 94-290; and 69 Stat. 533).

Federal Interest Liabilities to States

Program and Financing (in millions of dollars)


Identification code 20-1877-0-1-908 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Federal interest liabilities to States 2 2 2



10.00 Total new obligations (object class 25.2) 2 2 2

Budgetary resources available for obligation:
22.00 New budget authority (gross) 2 2 2
23.95 Total new obligations -2 -2 -2

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 2 2 2

Change in obligated balances:
73.10 Total new obligations 2 2 2
73.20 Total outlays (gross) -2 -2 -2

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 2 2 2

Net budget authority and outlays:
89.00 Budget authority 2 2 2
90.00 Outlays 2 2 2

Pursuant to the Cash Management Improvement Act (P.L. 101-453, 104 Stat. 1058) as amended (P.L. 102-589, 106 Stat. 5133), and Treasury implementing regulations codified at 31 CFR Part 205, under certain circumstances, interest is paid to States when Federal funds are not transferred to States in a timely manner.

Interest Paid to Credit Financing Accounts

Program and Financing (in millions of dollars)


Identification code 20-1880-0-1-908 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Interest paid to credit financing accounts 12,633 18,131 13,238



10.00 Total new obligations (object class 43.0) 12,633 18,131 13,238

Budgetary resources available for obligation:
21.40 Unobligated balance carried forward, start of year 3
22.00 New budget authority (gross) 12,636 18,131 13,238



23.90 Total budgetary resources available for obligation 12,636 18,134 13,238
23.95 Total new obligations -12,633 -18,131 -13,238
23.98 Unobligated balance expiring or withdrawn -3



24.40 Unobligated balance carried forward, end of year 3

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 12,636 18,131 13,238
69.00 Offsetting collections (cash) 3
69.10 Change in uncollected customer payments from Federal sources (unexpired) -3



69.90 Spending authority from offsetting collections (total mandatory)



70.00 Total new budget authority (gross) 12,636 18,131 13,238

Change in obligated balances:
72.40 Obligated balance, start of year -3
73.10 Total new obligations 12,633 18,131 13,238
73.20 Total outlays (gross) -12,636 -18,131 -13,238
74.00 Change in uncollected customer payments from Federal sources (unexpired) 3



74.40 Obligated balance, end of year -3

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 12,636 18,131 13,238

Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash) from: Federal sources -3
Against gross budget authority only:
88.95 Change in uncollected customer payments from Federal sources (unexpired) 3

Net budget authority and outlays:
89.00 Budget authority 12,636 18,131 13,238
90.00 Outlays 12,636 18,128 13,238

This account pays interest on the invested balances of guaranteed and direct loan financing accounts. For guaranteed loan financing accounts, balances result when the accounts receive up-front payments and fees to be held in reserve to make payments on defaults. Direct loan financing accounts normally borrow from Treasury to disburse loans and receive interest and principal payments and other payments from borrowers. Because direct loan financing accounts generally repay borrowing from Treasury at the end of the year, they can build up balances of payments received during the year. Interest on invested balances is paid to the financing accounts from the general fund of the Treasury, in accordance with section 505(c) of the Federal Credit Reform Act of 1990.

Claims, Judgments, and Relief Acts

Program and Financing (in millions of dollars)


Identification code 20-1895-0-1-808 2009 actual 2010 est. 2011 est.

Obligations by program activity:
00.01 Claims for damages 24 11 11
00.03 Claims for contract disputes 149 90 90



00.91 Total claims adjudicated administratively 173 101 101
01.01 Judgments, Court of Claims 1,511 339 201
01.02 Judgments, U.S. courts 621 451 524



01.91 Total court judgments 2,132 790 725



10.00 Total new obligations (object class 42.0) 2,305 891 826

Budgetary resources available for obligation:
22.00 New budget authority (gross) 2,305 891 826
23.95 Total new obligations -2,305 -891 -826

New budget authority (gross), detail:
Mandatory:
60.00 Appropriation 2,305 891 826

Change in obligated balances:
72.40 Obligated balance, start of year 39 51 51
73.10 Total new obligations 2,305 891 826
73.20 Total outlays (gross) -2,293 -891 -826



74.40 Obligated balance, end of year 51 51 51

Outlays (gross), detail:
86.97 Outlays from new mandatory authority 2,254 850 785
86.98 Outlays from mandatory balances 39 41 41



87.00 Total outlays (gross) 2,293 891 826

Net budget authority and outlays:
89.00 Budget authority 2,305 891 826
90.00 Outlays 2,293 891 826

Summary of Budget Authority and Outlays (in millions of dollars)


2009 actual 2010 est. 2011 est.

Enacted/requested:
Budget Authority 2,305 891 826
Outlays 2,293 891 826