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, $324,889,000[$346,401,000]: Provided, 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 Organization[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, 2013[2012], is for information technology modernization requirements; not to exceed $200,000 is for official reception and representation expenses; $200,000[$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, 2013[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, 2013[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, 2014[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, 2013, is for modernizing the Office of Debt Management's information technology.] : Provided further, That of the funds made available under this heading, $2,500,000 is for strengthening the Department's acquisition workforce capacity and capabilities: Provided further, That with respect to the previous proviso, such funds shall be available for training, recruitment, retention, and hiring members of the acquisition workforce as defined by the Office of Federal Procurement Policy Act, as amended (41 U.S.C. 401 et seq.): Provided further, That with respect to the seventh proviso, such funds shall be available for information technology in support of acquisition workforce effectiveness or for management solutions to improve acquisition management. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0101–0–1–803 2010 actual CR 2012 est.

Obligations by program activity:
0001 Economic policies and programs 47 70 68
0002 Financial policies and programs 44 72 85
0003 Terrorism and Financial Intelligence 64 96 93
0004 Treasury-wide management policies and programs 21 26 34
0005 Treasury-wide financial statement audit 6 7 7
0007 Executive Direction 25 34 38
0008 Administration programs activities 94



0091 Direct program activities, subtotal 301 305 325



0100 Subtotal, Direct programs 301 305 325
0811 Reimbursable program 66 91 91



0900 Total new obligations 367 396 416

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 12 17 17
1012 Expired unobligated bal transferred to unexpired accts 2



1050 Unobligated balance (total) 14 17 17
Budget authority:
Appropriations, discretionary:
1100 Appropriation 306 305 325
1121 Appropriations transferred from other accounts 2



1160 Appropriation, discretionary (total) 308 305 325
Spending authority from offsetting collections, discretionary:
1700 Collected 42 91 91
1701 Change in uncollected payments, Federal sources 24



1750 Spending auth from offsetting collections, disc (total) 66 91 91
1900 Budget authority (total) 374 396 416
1930 Total budgetary resources available 388 413 433
Memorandum (non-add) entries:
1940 Unobligated balance expiring –4
1941 Unexpired unobligated balance, end of year 17 17 17

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 85 111 118
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –21 –30 –30



3020 Obligated balance, start of year (net) 64 81 88
3030 Obligations incurred, unexpired accounts 367 396 416
3031 Obligations incurred, expired accounts 17
3040 Outlays (gross) –338 –389 –445
3050 Change in uncollected pymts, Fed sources, unexpired –24
3051 Change in uncollected pymts, Fed sources, expired 15
3081 Recoveries of prior year unpaid obligations, expired –20
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 111 118 89
3091 Uncollected pymts, Fed sources, end of year –30 –30 –30



3100 Obligated balance, end of year (net) 81 88 59

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 374 396 416
Outlays, gross:
4010 Outlays from new discretionary authority 275 340 374
4011 Outlays from discretionary balances 63 49 71



4020 Outlays, gross (total) 338 389 445
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –57 –91 –91
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –24
4052 Offsetting collections credited to expired accounts 15



4060 Additional offsets against budget authority only (total) –9



4070 Budget authority, net (discretionary) 308 305 325
4080 Outlays, net (discretionary) 281 298 354
4180 Budget authority, net (total) 308 305 325
4190 Outlays, net (total) 281 298 354

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 resources to support the core mission of the Treasury as well as increased funding to successfully implement new offices and activities authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111–203), including the new Federal Insurance Office and Office of Minority and Women Inclusion. The Budget also provides additional resources to support effective administration of programs authorized in the American Recovery and Reinvestment Act of 2009 (P.L. 111–5).

Object Classification (in millions of dollars)


Identification code 20–0101–0–1–803 2010 actual CR 2012 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 129 146 153
11.3 Other than full-time permanent 2 3 3
11.5 Other personnel compensation 1 1
11.8 Special personal services payments 4 1



11.9 Total personnel compensation 136 149 158
12.1 Civilian personnel benefits 36 29 40
21.0 Travel and transportation of persons 6 5 10
23.1 Rental payments to GSA 6 5 4
23.3 Communications, utilities, and miscellaneous charges 7 15 8
24.0 Printing and reproduction 2 3 3
25.1 Advisory and assistance services 35 47 38
25.2 Other services from non-federal sources 26 19 20
25.3 Other goods and services from federal sources 30 25 27
25.4 Operation and maintenance of facilities 1 1
25.7 Operation and maintenance of equipment 3 1 3
26.0 Supplies and materials 6 3 11
31.0 Equipment 3 3 2
32.0 Land and structures 5



99.0 Direct obligations 301 305 325
99.0 Reimbursable obligations 66 91 91



99.9 Total new obligations 367 396 416

Employment Summary


Identification code 20–0101–0–1–803 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 1,166 1,266 1,341
2001 Reimbursable civilian full-time equivalent employment 150 137 137

department-wide systems and capital investments programs

Program and Financing (in millions of dollars)


Identification code 20–0115–0–1–803 2010 actual CR 2012 est.

Obligations by program activity:
0001 Direct program activity 14 10

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 30 27 27
1021 Recoveries of prior year unpaid obligations 1



1050 Unobligated balance (total) 31 27 27
Budget authority:
Appropriations, discretionary:
1100 Appropriation 10 10
1900 Budget authority (total) 10 10
1930 Total budgetary resources available 41 37 27
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 27 27 27

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 11 16 11
3030 Obligations incurred, unexpired accounts 14 10
3040 Outlays (gross) –7 –15 –8
3080 Recoveries of prior year unpaid obligations, unexpired –1
3081 Recoveries of prior year unpaid obligations, expired –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 16 11 3

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 10 10
Outlays, gross:
4010 Outlays from new discretionary authority 5
4011 Outlays from discretionary balances 7 10 8



4020 Outlays, gross (total) 7 15 8
4180 Budget authority, net (total) 10 10
4190 Outlays, net (total) 7 15 8

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 2012 Budget does not include new resources for this account, however, Treasury will continue to focus on successfully implementing investments from previous years. Ongoing high priority investments include department-wide implementation of the Enterprise Content Management program, which will modernize Treasury's document-based processes by allowing bureaus to electronically manage documents; implementation of the Financial Innovation and Transformation Program, which will develop government-wide solutions that automate manual financial transaction processing; and improvements to the Treasury Annex building.

Object Classification (in millions of dollars)


Identification code 20–0115–0–1–803 2010 actual CR 2012 est.

Direct obligations:
25.1 Advisory and assistance services 3
25.2 Other services from non-federal sources 9 10
25.3 Other goods and services from federal sources 2



99.9 Total new obligations 14 10

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]$29,855,000, 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. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0106–0–1–803 2010 actual CR 2012 est.

Obligations by program activity:
0001 Audits 21 23 23
0002 Investigations 6 7 7



0091 Direct program activities, subtotal 27 30 30
0801 Reimbursable program 8 13 13



0900 Total new obligations 35 43 43

Budgetary Resources:
Unobligated balance:
1012 Expired unobligated bal transferred to unexpired accts 1
Budget authority:
Appropriations, discretionary:
1100 Appropriation 30 30 30
1130 Appropriations permanently reduced –2



1160 Appropriation, discretionary (total) 28 30 30
Spending authority from offsetting collections, discretionary:
1700 Collected 2 13 13
1701 Change in uncollected payments, Federal sources 6



1750 Spending auth from offsetting collections, disc (total) 8 13 13
1900 Budget authority (total) 36 43 43
1930 Total budgetary resources available 37 43 43
Memorandum (non-add) entries:
1940 Unobligated balance expiring –2

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 11 11 16
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –5 –6 –6



3020 Obligated balance, start of year (net) 6 5 10
3030 Obligations incurred, unexpired accounts 35 43 43
3031 Obligations incurred, expired accounts 1
3040 Outlays (gross) –35 –38 –42
3050 Change in uncollected pymts, Fed sources, unexpired –6
3051 Change in uncollected pymts, Fed sources, expired 5
3081 Recoveries of prior year unpaid obligations, expired –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 11 16 17
3091 Uncollected pymts, Fed sources, end of year –6 –6 –6



3100 Obligated balance, end of year (net) 5 10 11

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 36 43 43
Outlays, gross:
4010 Outlays from new discretionary authority 25 28 28
4011 Outlays from discretionary balances 10 10 14



4020 Outlays, gross (total) 35 38 42
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –8 –13 –13
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –6
4052 Offsetting collections credited to expired accounts 6



4060 Additional offsets against budget authority only (total)



4070 Budget authority, net (discretionary) 28 30 30
4080 Outlays, net (discretionary) 27 25 29
4180 Budget authority, net (total) 28 30 30
4190 Outlays, net (total) 27 25 29

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. The OIG conducts audits and investigations of all Treasury programs and operations except those under jurisdictional oversight of the Treasury Inspector General for Tax Administration and the Special Inspector General for the Troubled Assets Relief Program. Additionally, the Treasury Inspector General functions as the Chair of the Council of Inspectors General on Financial Oversight.

The 2012 resources for the OIG will be used to provide critical audit oversight to ensure 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 Treasury-regulated financial institutions. The OIG will also conduct mandated requirements related to provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act to include monitoring and periodic reporting on the transfer of functions of the Office of Thrift Supervision. In addition, 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 70 audit products in 2012.

In 2012, OIG will continue to provide oversight on a reimbursable basis, of the Small Business Lending Fund (SBLF) and the State Small Business Credit Initiative (SSBCI). The programs were created by the Small Business Jobs Act of 2010, and assigned to the Department of the Treasury for management and execution.

In 2012, 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 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 2010 actual CR 2012 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 13 17 18
11.5 Other personnel compensation 1 2 1



11.9 Total personnel compensation 14 19 19
12.1 Civilian personnel benefits 4 5 5
21.0 Travel and transportation of persons 1 1 1
23.1 Rental payments to GSA 1 2 2
23.3 Communications, utilities, and miscellaneous charges 1 1 1
25.2 Other services from non-federal sources 2 1 1
25.3 Other goods and services from federal sources 2 1 1
31.0 Equipment 2



99.0 Direct obligations 27 30 30
99.0 Reimbursable obligations 8 13 13



99.9 Total new obligations 35 43 43

Employment Summary


Identification code 20–0106–0–1–803 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 139 154 172

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; [$155,452,000]$157,831,000, 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. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0119–0–1–803 2010 actual CR 2012 est.

Obligations by program activity:
0001 Audit 61 61 62
0002 Investigations 95 95 95



0091 Direct program activities, subtotal 156 156 157
0801 Reimbursable program 2 1 1



0900 Total new obligations 158 157 158

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 9 4
Budget authority:
Appropriations, discretionary:
1100 New budget authority (gross), detail 152 152 157
Spending authority from offsetting collections, discretionary:
1700 Collected 1 1 1
1900 Budget authority (total) 153 153 158
1930 Total budgetary resources available 162 157 158
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 4

Change in obligated balance:
Obligated balance, start of year (net):
3000 Change in obligated balances 14 20 19
3030 Obligations incurred, unexpired accounts 158 157 158
3031 Obligations incurred, expired accounts 2
3040 Outlays (gross) –152 –158 –158
3081 Recoveries of prior year unpaid obligations, expired –2
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 20 19 19

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 153 153 158
Outlays, gross:
4010 Outlays (gross), detail 139 141 146
4011 Outlays from discretionary balances 13 17 12



4020 Outlays, gross (total) 152 158 158
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –1 –1 –1



4070 Budget authority, net (discretionary) 152 152 157
4080 Outlays, net (discretionary) 151 157 157
4180 Budget authority, net (total) 152 152 157
4190 Outlays, net (total) 151 157 157

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 2012, TIGTA will continue to monitor the IRS's 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. TIGTA will also provide oversight to the IRS's administration of the Affordable Care Act.

In 2012, 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 2012, 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 2010 highlights include issuing 129 audit reports, and identifying more than $11.69 billion in potential financial benefits.

In 2012, TIGTA's 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 2010 actual CR 2012 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 86 86 87
11.5 Other personnel compensation 10 10 10



11.9 Total personnel compensation 96 96 97
12.1 Civilian personnel benefits 29 29 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 from non-federal sources 1 1 1
25.3 Other goods and services from federal sources 7 7 7
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 156 156 157
99.0 Reimbursable obligations 2 1 1



99.9 Total new obligations 158 157 158

Employment Summary


Identification code 20–0119–0–1–803 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 817 835 864
2001 Reimbursable 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 2010 actual CR 2012 est.

Obligations by program activity:
0001 Direct program activity 1



0900 Total new obligations (object class 25.1) 1

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1 1
1930 Total budgetary resources available 1 1
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross)
3030 Obligations incurred, unexpired accounts 1
3040 Outlays (gross) –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross)

Budget authority and outlays, net:
Discretionary:
Outlays, gross:
4011 Outlays from discretionary balances 1
4180 Budget authority, net (total)
4190 Outlays, net (total) 1

This account supports the Department's activities to expand access to basic financial services for low- and moderate-income individuals. Funds have been used to implement a grant program (the First Accounts Program), gather information on community needs and best practices, and implement the Community Financial Access Pilot. Remaining funding will be used primarily to develop key aspects of the Bank on USA program. Funding for this account was last appropriated in 2000 (P.L. 106–346).

Counterterrorism Fund

Program and Financing (in millions of dollars)


Identification code 20–0117–0–1–751 2010 actual CR 2012 est.

Obligations by program activity:
0001 Direct program activity 1



0900 Total new obligations (object class 25.3) 1

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1
1930 Total budgetary resources available 1
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 1 1 1
3030 Obligations incurred, unexpired accounts 1
3040 Outlays (gross) –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 1 1 1

Budget authority and outlays, net:
Discretionary:
Outlays, gross:
4011 Outlays from discretionary balances 1
4180 Budget authority, net (total)
4190 Outlays, net (total) 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 2010 actual CR 2012 est.

Obligations by program activity:
0001 Base Administrative Expenses 3 3 3
0002 Projected Administrative Expenses 3 3
0003 Projected Payments to Insurers 451 468



0900 Total new obligations 3 457 474

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 2
1020 Adjustment of unobligated bal brought forward, Oct 1 –2



1050 Unobligated balance (total)
Budget authority:
Appropriations, mandatory:
1200 Appropriation 3 457 474
1900 Budget authority (total) 3 457 474
1930 Total budgetary resources available 3 457 474
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 2 3 352
3030 Obligations incurred, unexpired accounts 3 457 474
3040 Outlays (gross) –2 –108 –241
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 3 352 585

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 3 457 474
Outlays, gross:
4100 Outlays from new mandatory authority 2 105 241
4101 Outlays from mandatory balances 3



4110 Outlays, gross (total) 2 108 241
4180 Budget authority, net (total) 3 457 474
4190 Outlays, net (total) 2 108 241

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 insured loss levels of varying magnitudes. On this basis, the Budget baseline projects net spending of $945 million over the 2012–2016 period and $984 million over the 2012–2021 period.

Object Classification (in millions of dollars)


Identification code 20–0123–0–1–376 2010 actual CR 2012 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 1 2 2
12.1 Civilian personnel benefits 1
25.1 Advisory and assistance services 3 3
25.2 Other services from non-federal sources 1 1 1
42.0 Projected Insurance claims and indemnities 451 468



99.0 Direct obligations 3 457 474



99.9 Total new obligations 3 457 474

Employment Summary


Identification code 20–0123–0–1–376 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 11 10 10

Treasury Forfeiture Fund

(cancellation)

Of the unobligated balances available under this heading, [$62,000,000] $600,000,000 are hereby permanently cancelled. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5697–0–2–751 2010 actual CR 2012 est.

0100 Balance, start of year 31 90 90
Adjustments:
0191 Rounding adjustment –1



0199 Balance, start of year 30 90 90
Receipts:
0200 Forfeited Cash and Proceeds from Sale of Forfeited Property, Treasury Forfeiture Fund 1,142 926 1,133
0240 Earnings on Investments, Treasury Forfeiture Fund 1 1 1



0299 Total receipts and collections 1,143 927 1,134



0400 Total: Balances and collections 1,173 1,017 1,224
Appropriations:
0500 Treasury Forfeiture Fund –10
0501 Treasury Forfeiture Fund 90
0502 Treasury Forfeiture Fund –1,173 –927 –1,124
0503 Treasury Forfeiture Fund –90 –90
0504 Treasury Forfeiture Fund 90



0599 Total appropriations –1,083 –927 –1,224



0799 Balance, end of year 90 90

Program and Financing (in millions of dollars)


Identification code 20–5697–0–2–751 2010 actual CR 2012 est.

Obligations by program activity:
0001 Asset forfeiture fund 852 751 905

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 300 581 757
1010 Unobligated balance transferred to other accounts –30
1021 Recoveries of prior year unpaid obligations 50



1050 Unobligated balance (total) 350 581 727
Budget authority:
Appropriations, discretionary:
1101 Appropriation (special fund) 10
1120 Appropriations transferred to other accounts –30
1130 Appropriations permanently reduced –600
1132 Appropriations temporarily reduced –90



1160 Appropriation, discretionary (total) –90 –620
Appropriations, mandatory:
1201 Appropriation (special fund) 1,173 927 1,124
1203 Appropriation (previously unavailable) 90 90
1234 Unobligated balance of appropriations temporarily reduced –90



1260 Appropriations, mandatory (total) 1,083 1,017 1,214
1900 Budget authority (total) 1,083 927 594
1930 Total budgetary resources available 1,433 1,508 1,321
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 581 757 416

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 406 745 696
3030 Obligations incurred, unexpired accounts 852 751 905
3040 Outlays (gross) –463 –800 –800
3080 Recoveries of prior year unpaid obligations, unexpired –50
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 745 696 801

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross –90 –620
Mandatory:
4090 Budget authority, gross 1,083 1,017 1,214
Outlays, gross:
4100 Outlays from new mandatory authority 88 407 486
4101 Outlays from mandatory balances 375 393 314



4110 Outlays, gross (total) 463 800 800
4180 Budget authority, net (total) 1,083 927 594
4190 Outlays, net (total) 463 800 800

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 705 1,383 1,000
5001 Total investments, EOY: Federal securities: Par value 1,383 1,000 750

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. The Budget proposes to permanently cancel $600 million of surplus revenue and transfer an additional $30 million to the Financial Crimes Enforcement Network to support the BSA IT Modernization initiative.

Object Classification (in millions of dollars)


Identification code 20–5697–0–2–751 2010 actual CR 2012 est.

Direct obligations:
25.2 Other services from non-federal sources 199 367 185
25.3 Other goods and services from federal sources 236 236 222
41.0 Grants, subsidies, and contributions 417 148 498



99.9 Total new obligations 852 751 905

Financial Research Fund

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5590–0–2–376 2010 actual CR 2012 est.

0100 Balance, start of year 41
Receipts:
0200 Fees and Assessments, Financial Research Fund 20
0201 Transfer from the Federal Reserve, Financial Research Fund 41 62



0299 Total receipts and collections 41 82



0400 Total: Balances and collections 41 123



0799 Balance, end of year 41 123

Program and Financing (in millions of dollars)


Identification code 20–5590–0–2–376 2010 actual CR 2012 est.

Obligations by program activity:
0001 FSOC 7 8
0002 OFR 34 74



0900 Total new obligations 41 82

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 41 82
1900 Budget authority (total) 41 82
1930 Total budgetary resources available 41 82

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 41 82
3040 Outlays (gross) –37 –78

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 41 82
Outlays, gross:
4100 Outlays from new mandatory authority 37 74
4101 Outlays from mandatory balances 4



4110 Outlays, gross (total) 37 78
4180 Budget authority, net (total) 41 82
4190 Outlays, net (total) 37 78

The Financial Stability Oversight Council (FSOC) and Office of Financial Research (OFR) were established under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Public Law 111–203). FSOC is an executive agency of government, and is comprised of ten voting members, including all federal financial regulators, and five non-voting members. The Secretary of the Treasury serves as Chairperson of FSOC. OFR is an office within the Department of the Treasury.

FSOC's purpose is to identify risks to the financial stability of the United States, promote market discipline, and respond to emerging threats to the stability of the U.S. financial system. OFR's purpose is to support FSOC by collecting data on behalf of FSOC, developing and promoting data standards, conducting research, and developing tools for risk measurement and monitoring. OFR has two primary operational divisions, a Data Center and a Research and Analysis Center.

Through July 21, 2012, FSOC and OFR are funded through transfers from the Board of Governors of the Federal Reserve System. After July 21, 2012, FSOC and OFR will be funded through assessments on bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies supervised by the Board of Governors. Administrative expenses of FSOC are considered expenses of, and are paid by, OFR. OFR expenses are paid for out of the Financial Research Fund, which was established by the Dodd-Frank Act and which is managed by the Department of the Treasury.

Projected OFR expenditures are largely driven by assumptions regarding the scale of resources needed to fulfill the OFR's data-related mandates. As the OFR defines the scope of its standardization, reference data, and collection activities, estimates may change.

Object Classification (in millions of dollars)


Identification code 20–5590–0–2–376 2010 actual CR 2012 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 6 22
12.1 Civilian personnel benefits 3 11
21.0 Travel and transportation of persons 1
23.1 Rental payments to GSA 5 5
23.3 Communications, utilities, and miscellaneous charges 1 3
25.1 Advisory and assistance services 15 25
26.0 Supplies and materials 7 14
31.0 Equipment 4 1



99.9 Total new obligations 41 82

Employment Summary


Identification code 20–5590–0–2–376 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 50 192

Presidential Election Campaign Fund

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5081–0–2–808 2010 actual CR 2012 est.

0100 Balance, start of year 12
Receipts:
0200 Presidential Election Campaign Fund 41 50 50



0400 Total: Balances and collections 41 50 62
Appropriations:
0500 Presidential Election Campaign Fund –41 –38 –36



0799 Balance, end of year 12 26

Program and Financing (in millions of dollars)


Identification code 20–5081–0–2–808 2010 actual CR 2012 est.

Obligations by program activity:
0003 Nominating Conventions - Major Party 36
0004 Presidential Primary Matching Fund Candidates 21
0005 General Election Candidates - Major Party 179



0900 Total new obligations (object class 41.0) 36 200

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 152 193 195
Budget authority:
Appropriations, mandatory:
1201 Appropriation (special fund) 41 38 36
1930 Total budgetary resources available 193 231 231
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 193 195 31

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 36 200
3040 Outlays (gross) –36 –201

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 41 38 36
Outlays, gross:
4100 Outlays from new mandatory authority 8
4101 Outlays from mandatory balances 36 193



4110 Outlays, gross (total) 36 201
4180 Budget authority, net (total) 41 38 36
4190 Outlays, net (total) 36 201

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 2012 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 to 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 2010 actual CR 2012 est.

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 88,196 43,602 43,890
1011 Unobligated balance transferred from other accounts 2,301
1020 Adjustment of unobligated bal brought forward, Oct 1 13,825
1021 Recoveries of prior year unpaid obligations 983
1030 Adjustment to foreign exchange valuation for Exchange Stabilization Fund –61,976



1050 Unobligated balance (total) 43,329 43,602 43,890
Budget authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 273 288 292
1930 Total budgetary resources available 43,602 43,890 44,182
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 43,602 43,890 44,182

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 14,135 60,186 60,186
3001 Adjustments to unpaid obligations, brought forward, Oct 1 47,034



3020 Obligated balance, start of year (net) 61,169 60,186 60,186
3080 Recoveries of prior year unpaid obligations, unexpired –983
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 60,186 60,186 60,186

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 273 288 292
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4121 Interest on Federal securities –19 –21 –23
4123 Non-Federal sources –254 –267 –269



4130 Offsets against gross budget authority and outlays (total) –273 –288 –292



4160 Budget authority, net (mandatory)
4170 Outlays, net (mandatory) –273 –288 –292
4180 Budget authority, net (total)
4190 Outlays, net (total) –273 –288 –292

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 18,615 20,436 22,700
5001 Total investments, EOY: Federal securities: Par value 20,436 22,700 24,304
5010 Total investments, SOY: non-Fed securities: Market value 26,000 25,941 28,630
5011 Total investments, EOY: non-Fed securities: Market value 25,941 28,630 30,234

Under the law creating the Exchange Stabilization Fund (ESF), section 10 of the Gold Reserve Act of 1934, as amended, codified at 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. By law, the fund is not available to pay administrative expenses.

Since 1934, the principal sources of the fund's income have been earnings on investments held by the fund, including interest earned on fund holdings of U.S. Government securities.

The amounts reflected in the 2011 and 2012 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 2009 actual 2010 actual

ASSETS:
Federal assets: Investments in US securities:
1102 Treasury securities, par 18,615 20,436
1201 Non-Federal assets: Foreign Currency Investments 25,907 26,055
1801 Other Federal assets: Special Drawing Rights 57,961 57,439


1999 Total assets 102,483 103,930
LIABILITIES:
2207 Non-Federal liabilities: Other 61,168 60,186


2999 Total liabilities 61,168 60,186
NET POSITION:
3100 Appropriated capital 200 200
3300 Cumulative results of operations 41,115 43,544


3999 Total net position 41,315 43,744


4999 Total liabilities and net position 102,483 103,930

Exchange Stabilization Fund-Money Market Mutual Fund Guaranty Facility

Program and Financing (in millions of dollars)


Identification code 20–4274–0–3–376 2010 actual CR 2012 est.

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 2,300
1010 Unobligated balance transferred to other accounts –2,301



1050 Unobligated balance (total) –1
Budget authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 1
1900 Budget authority (total) 1
1930 Total budgetary resources available
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 1
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123 Non-Federal sources –1



4160 Budget authority, net (mandatory)
4170 Outlays, net (mandatory) –1
4180 Budget authority, net (total)
4190 Outlays, net (total) –1

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 1,201
5010 Total investments, SOY: non-Fed 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 the Program was opened for participation on September 29, 2008. During the year ended September 30, 2009, the ESF collected $1.2 billion in program particpation payments (premia). The program officially expired on September 18, 2009, and this account closed in fiscal year 2010.

Balance Sheet (in millions of dollars)


Identification code 20–4274–0–3–376 2009 actual 2010 actual

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


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


2999 Total liabilities 40
NET POSITION:
3999 Total net position


4999 Total liabilities and net position 40

Working Capital Fund

Program and Financing (in millions of dollars)


Identification code 20–4501–0–4–803 2010 actual CR 2012 est.

Obligations by program activity:
0810 Working capital fund 201 144 135
0811 Administrative overhead 8 8 8



0900 Total new obligations 209 152 143

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 46 24 24
1021 Recoveries of prior year unpaid obligations 32



1050 Unobligated balance (total) 78 24 24
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 155 152 143
1930 Total budgetary resources available 233 176 167
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 24 24 24

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 113 97 27
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –3 –3 –3



3020 Obligated balance, start of year (net) 110 94 24
3030 Obligations incurred, unexpired accounts 209 152 143
3040 Outlays (gross) –193 –222 –156
3080 Recoveries of prior year unpaid obligations, unexpired –32
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 97 27 14
3091 Uncollected pymts, Fed sources, end of year –3 –3 –3



3100 Obligated balance, end of year (net) 94 24 11

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 155 152 143
Outlays, gross:
4010 Outlays from new discretionary authority 147 144 136
4011 Outlays from discretionary balances 46 78 20



4020 Outlays, gross (total) 193 222 156
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –155 –152 –143



4070 Budget authority, net (discretionary)
4080 Outlays, net (discretionary) 38 70 13
4180 Budget authority, net (total)
4190 Outlays, net (total) 38 70 13

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 2010 actual CR 2012 est.

Reimbursable obligations:
11.1 Personnel compensation: Full-time permanent 22 26 26
12.1 Civilian personnel benefits 6 5 5
23.1 Rental payments to GSA 4 4 4
23.3 Communications, utilities, and miscellaneous charges 1
25.1 Advisory and assistance services 11
25.2 Other services from non-federal sources 91 65 62
25.3 Other goods and services from federal sources 67 43 40
25.7 Operation and maintenance of equipment 6 7 4
31.0 Equipment 1 2 2



99.0 Reimbursable obligations 209 152 143



99.9 Total new obligations 209 152 143

Employment Summary


Identification code 20–4501–0–4–803 2010 actual CR 2012 est.

2001 Reimbursable civilian full-time equivalent employment 195 200 222

Treasury Franchise Fund

Program and Financing (in millions of dollars)


Identification code 20–4560–0–4–803 2010 actual CR 2012 est.

Obligations by program activity:
0801 Consolidated/Integrated Administrative Management 2
0802 Financial Management Administrative Support Service 168 95 99
0803 Financial Systems, Consulting and Training 3
0804 Information Technology Services 74 146



0900 Total new obligations 173 169 245

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 62 71 73
1021 Recoveries of prior year unpaid obligations 7 6 7



1050 Unobligated balance (total) 69 77 80
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 185 165 245
1701 Change in uncollected payments, Federal sources –10



1750 Spending auth from offsetting collections, disc (total) 175 165 245
1930 Total budgetary resources available 244 242 325
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 71 73 80

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 29 30 25
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –23 –13 –13



3020 Obligated balance, start of year (net) 6 17 12
3030 Obligations incurred, unexpired accounts 173 169 245
3040 Outlays (gross) –165 –168 –245
3050 Change in uncollected pymts, Fed sources, unexpired 10
3080 Recoveries of prior year unpaid obligations, unexpired –7 –6 –7
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 30 25 18
3091 Uncollected pymts, Fed sources, end of year –13 –13 –13



3100 Obligated balance, end of year (net) 17 12 5

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 175 165 245
Outlays, gross:
4010 Outlays from new discretionary authority 144 91 156
4011 Outlays from discretionary balances 21 77 89



4020 Outlays, gross (total) 165 168 245
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –185 –165 –245
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired 10



4070 Budget authority, net (discretionary)
4080 Outlays, net (discretionary) –20 3
4180 Budget authority, net (total)
4190 Outlays, net (total) –20 3

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 lower costs while providing high quality administrative services through a competitive environment. 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 revolving in nature and provides accounting, procurement, travel, human resources, and information technology services through the Bureau of the Public Debt, Administrative Resource Center (ARC). Services are provided to federal customers, on a reimbursable, fee-for-service basis. ARC has provided effective administrative support 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 2010 actual CR 2012 est.

Reimbursable obligations:
Personnel compensation:
11.1 Full-time permanent 72 72 89
11.3 Other than full-time permanent 1
11.5 Other personnel compensation 3 3 4



11.9 Total personnel compensation 76 75 93
12.1 Civilian personnel benefits 21 22 29
21.0 Travel and transportation of persons 1 1 2
23.3 Communications, utilities, and miscellaneous charges 1 3 5
25.1 Advisory and assistance services 3 2 1
25.2 Other services from non-federal sources 8 19 48
25.3 Other goods and services from federal sources 39 29 30
25.7 Operation and maintenance of equipment 12 10 21
26.0 Supplies and materials 1 2
31.0 Equipment 12 7 14



99.0 Reimbursable obligations 173 169 245



99.9 Total new obligations 173 169 245

Employment Summary


Identification code 20–4560–0–4–803 2010 actual CR 2012 est.

2001 Reimbursable civilian full-time equivalent employment 973 1,012 1,190

Administrative Expenses, Recovery Act

Program and Financing (in millions of dollars)


Identification code 20–0129–0–1–803 2010 actual CR 2012 est.

Obligations by program activity:
0001 Internal Revenue Service 86 8
0003 Treasury, Departmental Office 1



0900 Total new obligations 87 8

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 98 11 3
1930 Total budgetary resources available 98 11 3
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 11 3 3

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 5 2 8
3030 Obligations incurred, unexpired accounts 87 8
3040 Outlays (gross) –90 –2
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 2 8 8

Budget authority and outlays, net:
Discretionary:
Outlays, gross:
4011 Outlays from discretionary balances 90 2
4180 Budget authority, net (total)
4190 Outlays, net (total) 90 2

The funding appropriated to this account supports the implementation and administration of a number of Recovery Act tax, bond and cash assistance programs across the Department of the Treasury.

Object Classification (in millions of dollars)


Identification code 20–0129–0–1–803 2010 actual CR 2012 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 28 4
11.3 Other than full-time permanent 26
11.5 Other personnel compensation 3



11.9 Total personnel compensation 57 4
12.1 Civilian personnel benefits 17 1
21.0 Travel and transportation of persons 1
23.3 Communications, utilities, and miscellaneous charges 6 2
25.1 Advisory and assistance services 4
25.2 Other services from non-federal sources 1
31.0 Equipment 2



99.9 Total new obligations 87 8

Employment Summary


Identification code 20–0129–0–1–803 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 1,200 65

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 2010 actual CR 2012 est.

Obligations by program activity:
0001 Direct Program Activity 4,293 4,754 6,481



0900 Total new obligations (object class 41.0) 4,293 4,754 6,481

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 7
1020 Adjustment of unobligated bal brought forward, Oct 1 –7



1050 Unobligated balance (total)
Budget authority:
Appropriations, mandatory:
1200 Appropriation 4,293 4,754 6,481
1930 Total budgetary resources available 4,293 4,754 6,481
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 84 84
3030 Obligations incurred, unexpired accounts 4,293 4,754 6,481
3040 Outlays (gross) –4,209 –4,754 –6,481
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 84 84 84

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 4,293 4,754 6,481
Outlays, gross:
4100 Outlays from new mandatory authority 4,209 4,754 6,481
4180 Budget authority, net (total) 4,293 4,754 6,481
4190 Outlays, net (total) 4,209 4,754 6,481

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


2010 actual CR 2012 est.

Enacted/requested:
Budget Authority 4,293 4,754 6,481
Outlays 4,209 4,754 6,481
Legislative proposal, subject to PAYGO:
Budget Authority 357
Outlays 357
Total:
Budget Authority 4,293 4,754 6,838
Outlays 4,209 4,754 6,838

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

This program provides 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, 2010 or 2011. In some cases, if construction begins in 2009, 2010, or 2011, 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. The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (Public Law 111–312), Section 707(a), extended for one year, through 2011, the time within which certain eligible property must be placed in service or start construction.

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

(Legislative proposal, subject to PAYGO)

Program and Financing (in millions of dollars)


Identification code 20–0140–4–1–271 2010 actual CR 2012 est.

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 357
1930 Total budgetary resources available 357
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 357

Change in obligated balance:
3040 Outlays (gross) –357
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) –357

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 357
Outlays, gross:
4100 Outlays from new mandatory authority 357
4180 Budget authority, net (total) 357
4190 Outlays, net (total) 357

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 2010 actual CR 2012 est.

Obligations by program activity:
0001 Direct Program Activity 3,083 123 450



0900 Total new obligations (object class 41.0) 3,083 123 450

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 465
1020 Adjustment of unobligated bal brought forward, Oct 1 –465
1021 Recoveries of prior year unpaid obligations 29



1050 Unobligated balance (total) 29
Budget authority:
Appropriations, mandatory:
1200 Appropriation 3,054 123 450
1930 Total budgetary resources available 3,083 123 450
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 2,436 3,552 375
3030 Obligations incurred, unexpired accounts 3,083 123 450
3040 Outlays (gross) –1,938 –3,300 –250
3080 Recoveries of prior year unpaid obligations, unexpired –29
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 3,552 375 575

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 3,054 123 450
Outlays, gross:
4100 Outlays from new mandatory authority 662 123 100
4101 Outlays from mandatory balances 1,276 3,177 150



4110 Outlays, gross (total) 1,938 3,300 250
4180 Budget authority, net (total) 3,054 123 450
4190 Outlays, net (total) 1,938 3,300 250

Section 1602 of the American Recovery and Reinvestment Act of 2009 (Recovery Act) authorized and directed 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 provides 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) through December 31, 2011. 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.

Community Development Financial Institutions Fund Program Account

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, [$250,000,000]$227,259,000, to remain available until September 30, [2012]2013; 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 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, notwithstanding section [4707]108(d) of such Act, 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 [$50,000,000]$41,425,000 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;] and to improve access to the provision of bank accounts as authorized by section 1204 of Public Law 111–203; of which up to [$23,000,000]$22,965,000 may be used for administrative expenses, including administration of the New Markets Tax Credit; of which up to [$10,200,000]$10,315,000 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.

Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–1881–0–1–451 2010 actual CR 2012 est.

Obligations by program activity:
0009 General Administrative Expenses 18 18 23
0011 Bank enterprise awards program 24 25
0012 Financial Assistance 108 108 122
0014 Native American/Hawaiian Program 11 12 12
0016 Recovery Act Funding 1
0020 Financial Education and Counseling 2 1
0021 Healthy Food Financing Initiative 25
0022 Bank on USA 41
0023 Capital Magnet Fund 80 80
0024 Financial Education and Counseling (Hawaii) 3



0091 Direct program activities, subtotal 244 247 223
Credit program obligations:
0701 Direct loan subsidy 4
0705 Reestimates of direct loan subsidy 2 3
0706 Interest on reestimates of direct loan subsidy 1



0791 Direct program activities, subtotal 2 4 4



0900 Total new obligations 246 251 227

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 11 28 29
Budget authority:
Appropriations, discretionary:
1100 Appropriation 260 247 227
Appropriations, mandatory:
1200 Appropriation 2 4
Spending authority from offsetting collections, discretionary:
1700 Collected 1 1 1
1900 Budget authority (total) 263 252 228
1930 Total budgetary resources available 274 280 257
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 28 29 30

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 70 92 133
3030 Obligations incurred, unexpired accounts 246 251 227
3040 Outlays (gross) –223 –210 –242
3081 Recoveries of prior year unpaid obligations, expired –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 92 133 118

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 261 248 228
Outlays, gross:
4010 Outlays from new discretionary authority 150 98 90
4011 Outlays from discretionary balances 73 110 150



4020 Outlays, gross (total) 223 208 240
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4033 Non-Federal sources –1 –1 –1



4070 Budget authority, net (discretionary) 260 247 227
4080 Outlays, net (discretionary) 222 207 239
Mandatory:
4090 Budget authority, gross 2 4
Outlays, gross:
4100 Outlays from new mandatory authority 2
4101 Outlays from mandatory balances 2



4110 Outlays, gross (total) 2 2
4180 Budget authority, net (total) 262 251 227
4190 Outlays, net (total) 222 209 241

Memorandum (non-add) entries:
5010 Total investments, SOY: non-Fed securities: Market value 31 22 24
5011 Total investments, EOY: non-Fed securities: Market value 22 24 25

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


Identification code 20–1881–0–1–451 2010 actual CR 2012 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 40.26



132999 Weighted average subsidy rate 0.00 0.00 40.26
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. 10



134999 Total subsidy outlays 10
Direct loan upward reestimates:
135001 Community Development Financial Institutions Prog Fin Assist. 2 4



135999 Total upward reestimate budget authority 2 4
Direct loan downward reestimates:
137001 Community Development Financial Institutions Prog Fin Assist. –6 –2



137999 Total downward reestimate budget authority –6 –2

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 2012 Budget provides funding for the CDFI Fund's merit-based grant programs, including the Healthy Food Financing Initiative (HFFI), which provides grants to CDFIs in order to expand the offering of affordable financing for healthy food retail options in distressed communities; and, Bank on USA, a program that promotes 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 Program through 2012, requesting $5 billion of allocation authority, which will expand affordable financing for the development of renewable energy projects, charter schools, manufacturing facilities, retail centers, as well as other projects, in low-income communities. Of the $5 billion requested for the NMTC Program in 2012, $250 million will support financing healthy food options in distressed communities as part of HFFI.

Object Classification (in millions of dollars)


Identification code 20–1881–0–1–451 2010 actual CR 2012 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 6 6 8
11.3 Other than full-time permanent 1 1 1



11.9 Total personnel compensation 7 7 9
12.1 Civilian personnel benefits 2 2 2
23.1 Rental payments to GSA 2 2 2
25.2 Other services from non-federal sources 7 5 5
25.3 Other goods and services from federal sources 4 2 3
25.5 Research and development contracts 2
41.0 Grants, subsidies, and contributions 224 233 204



99.0 Direct obligations 246 251 227



99.9 Total new obligations 246 251 227

Employment Summary


Identification code 20–1881–0–1–451 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 71 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 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 10
0713 Payment of interest to Treasury 2 2 2
0742 Downward reestimate paid to receipt account 4 1
0743 Interest on downward reestimates 2 1



0900 Total new obligations 8 4 12

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 6 1 2
Spending authority from offsetting collections, mandatory:
1800 Collected 8 10 16
1825 Spending authority from offsetting collections applied to repay debt –5 –8 –6



1850 Spending auth from offsetting collections, mand (total) 3 2 10
1900 Financing authority(total) 9 3 12
1930 Total budgetary resources available 9 4 12
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross)
3030 Obligations incurred, unexpired accounts 8 4 12
3040 Financing disbursements (gross) –8 –4 –12
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross)

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 9 3 12
Financing disbursements:
4110 Financing disbursements, gross 8 4 12
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –2 –4 –10
4123 Non-Federal sources - Interest repayments –6 –1 –1
4123 Non-Federal sources - Principal Repayments –5 –5



4130 Offsets against gross financing auth and disbursements (total) –8 –10 –16



4160 Financing authority, net (mandatory) 1 –7 –4
4170 Financing disbursements, net (mandatory) –6 –4
4180 Financing authority, net (total) 1 –7 –4
4190 Financing disbursements, net (total) –6 –4

Status of Direct Loans (in millions of dollars)


Identification code 20–4088–0–3–451 2010 actual CR 2012 est.

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



1150 Total direct loan obligations 10

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 60 56 51
1231 Disbursements: Direct loan disbursements 10
1251 Repayments: Repayments and prepayments –4 –4 –4
1263 Write-offs for default: Direct loans –1 –1



1290 Outstanding, end of year 56 51 56

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 2009 actual 2010 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 1
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 61 56
1405 Allowance for subsidy cost (-) –20 –15


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


1999 Total assets 41 42
LIABILITIES:
2103 Federal liabilities: Debt 41 42


2999 Total liabilities 41 42


4999 Total liabilities and net position 41 42

Office of Financial Stability

Program and Financing (in millions of dollars)


Identification code 20–0128–0–1–376 2010 actual CR 2012 est.

Obligations by program activity:
0001 Direct program activity 321 364 290
0810 Reimbursable program (Congressional Oversight Panel) 5 5
0811 Reimbursable program (to GAO) 7 8 6
0812 Reimbursable program (to Treasury and Non-Treasury agencies) 32 17 15



0899 Total reimbursable obligations 44 30 21



0900 Total new obligations 365 394 311

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 406 394 311
1930 Total budgetary resources available 406 394 311
Memorandum (non-add) entries:
1940 Unobligated balance expiring –41

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 159 231 79
3001 Adjustments to unpaid obligations, brought forward, Oct 1 –10



3020 Obligated balance, start of year (net) 159 221 79
3030 Obligations incurred, unexpired accounts 365 394 311
3031 Obligations incurred, expired accounts 1
3040 Outlays (gross) –239 –536 –328
3081 Recoveries of prior year unpaid obligations, expired –55
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 231 79 62

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 406 394 311
Outlays, gross:
4100 Outlays from new mandatory authority 148 315 249
4101 Outlays from mandatory balances 91 221 79



4110 Outlays, gross (total) 239 536 328
4180 Budget authority, net (total) 406 394 311
4190 Outlays, net (total) 239 536 328

The Emergency Economic Stabilization Act of 2008 (EESA) (P.L. 110–343) 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 mortgages 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 2010 actual CR 2012 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 24 30 33
12.1 Civilian personnel benefits 6 8 8
21.0 Travel and transportation of persons 1 1 1
23.3 Communications, utilities, and miscellaneous charges 1 2 2
25.2 Other services from non-federal sources 289 325 248



99.0 Direct obligations 321 366 292
99.0 Reimbursable obligations 44 28 19



99.9 Total new obligations 365 394 311

Employment Summary


Identification code 20–0128–0–1–376 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 210 251 270

Troubled Asset Relief Program Account

Program and Financing (in millions of dollars)


Identification code 20–0132–0–1–376 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0701 Direct loan subsidy 2
0705 Reestimates of direct loan subsidy 21 1,487
0706 Interest on reestimates of direct loan subsidy 69



0900 Total new obligations (object class 41.0) 23 1,556

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 23 1,556
1930 Total budgetary resources available 23 1,556

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 1,800 1,148 338
3030 Obligations incurred, unexpired accounts 23 1,556
3040 Outlays (gross) –22 –2,366
3081 Recoveries of prior year unpaid obligations, expired –653
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 1,148 338 338

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 23 1,556
Outlays, gross:
4100 Outlays from new mandatory authority 22 1,556
4101 Outlays from mandatory balances 810



4110 Outlays, gross (total) 22 2,366
4180 Budget authority, net (total) 23 1,556
4190 Outlays, net (total) 22 2,366

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


Identification code 20–0132–0–1–376 2010 actual CR 2012 est.

Direct loan levels supportable by subsidy budget authority:
115003 Small Business Lending Initiative—7(a) purchases 380
115004 Legacy Securities Public-Private Investment Program 13,255



115999 Total direct loan levels 13,635
Direct loan subsidy (in percent):
132003 Small Business Lending Initiative—7(a) purchases 0.48 0.00 0.00
132004 Legacy Securities Public-Private Investment Program –10.85 0.00 0.00



132999 Weighted average subsidy rate –10.53 0.00 0.00
Direct loan subsidy budget authority:
133003 Small Business Lending Initiative—7(a) purchases 2
133004 Legacy Securities Public-Private Investment Program –1,438



133999 Total subsidy budget authority –1,436
Direct loan subsidy outlays:
134001 Automotive Industry Financing Program 809
134003 Small Business Lending Initiative—7(a) purchases 1 1
134004 Legacy Securities Public-Private Investment Program –886 –565



134999 Total subsidy outlays –885 245
Direct loan upward reestimates:
135001 Automotive Industry Financing Program 21
135002 Term-Asset Backed Securities Loan Facility (TALF) 6
135004 Legacy Securities Public-Private Investment Program 1,550



135999 Total upward reestimate budget authority 21 1,556
Direct loan downward reestimates:
137001 Automotive Industry Financing Program –17,571 –7,512
137002 Term-Asset Backed Securities Loan Facility (TALF) –205
137003 Small Business Lending Initiative—7(a) purchases –1



137999 Total downward reestimate budget authority –17,776 –7,513
Guaranteed loan subsidy outlays:
234001 Asset Guarantee Program –1,418



234999 Total subsidy outlays –1,418
Guaranteed loan downward reestimates:
237001 Asset Guarantee Program –569 –695



237999 Total downward reestimate subsidy budget authority –569 –695

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 (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 EESA. 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 the Small Business Lending Initiative (SBLI). The AIFP was developed to prevent a significant disruption to the American automotive industry, which would have resulted in widespread damage to the U.S. economy. 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 SBLI was developed to provide additional liquidity to the Small Business Administration's 7(a) market so that banks are able to make more small business loans. 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.

The Dodd-Frank Wall Street Reform Act, enacted on July 21, 2010, reduced TARP authority to purchase troubled assets from $700 billion to $475 billion; required that repayments of amounts invested under TARP cannot be used to increase purchase authority and are dedicated to reducing the Federal debt; and prohibited new obligations for any program or initiative that had not been initiated by June 25, 2010.

The authority to make new financial commitments via the TARP expired on October 3, 2010 under the terms of EESA. However, Treasury can continue to execute commitments entered into before October 3, 2010. For more details, please see the Financial Stabilization Efforts and Their Budgetary Effects chapter in the Analytical Perspectives volume.

Troubled Asset Relief Program Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4277–0–3–376 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 13,635
0713 Payment of interest to Treasury 1,457 6,888 5,717
0740 Negative subsidy obligations 1,438
0742 Downward reestimate paid to receipt account 15,520 5,682
0743 Interest on downward reestimates 2,255 1,830



0900 Total new obligations 34,305 14,400 5,717

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 6,955
1021 Recoveries of prior year unpaid obligations 38,020
1024 Unobligated balance of borrowing authority withdrawn –37,103



1050 Unobligated balance (total) 917 6,955
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 27,302 8,857 1,580
Spending authority from offsetting collections, mandatory:
1800 Offsetting collections 10,744 20,959 5,573
1801 Change in uncollected payments, Federal sources –652 –810
1825 Spending authority from offsetting collections applied to repay debt –4,006 –7,651 –1,435



1850 Spending auth from offsetting collections, mand (total) 6,086 12,498 4,138
1900 Financing authority(total) 33,388 21,355 5,718
1930 Total budgetary resources available 34,305 21,355 12,673
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 6,955 6,956

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 50,351 17,070 9,305
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –1,800 –1,148 –338



3020 Obligated balance, start of year (net) 48,551 15,922 8,967
3030 Obligations incurred, unexpired accounts 34,305 14,400 5,717
3040 Financing disbursements (gross) –29,566 –22,165 –5,717
3050 Change in uncollected pymts, Fed sources, unexpired 652 810
3080 Recoveries of prior year unpaid obligations, unexpired –38,020
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 17,070 9,305 9,305
3091 Uncollected pymts, Fed sources, end of year –1,148 –338 –338



3100 Obligated balance, end of year (net) 15,922 8,967 8,967

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 33,388 21,355 5,718
Financing disbursements:
4110 Financing disbursements, gross 29,566 22,165 5,717
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –22 –2,367
4122 Interest on uninvested funds –301 –1,041 –835
4123 Principal –9,340 –161 –1,621
4123 Interest –980 –709 –650
4123 Warrants –101 –16,681 –2,467



4130 Offsets against gross financing auth and disbursements (total) –10,744 –20,959 –5,573
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 652 810



4160 Financing authority, net (mandatory) 23,296 1,206 145
4170 Financing disbursements, net (mandatory) 18,822 1,206 144
4180 Financing authority, net (total) 23,296 1,206 145
4190 Financing disbursements, net (total) 18,822 1,206 144

Status of Direct Loans (in millions of dollars)


Identification code 20–4277–0–3–376 2010 actual CR 2012 est.

Position with respect to appropriations act limitation on obligations:
1131 Direct loan obligations exempt from limitation 13,635



1150 Total direct loan obligations 13,635

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 60,478 15,680 22,718
1231 Disbursements: Direct loan disbursements 9,448 7,199
1251 Repayments: Repayments and prepayments –9,340 –161 –1,621
Write-offs for default:
1263 Direct loans –44,790 –3,685
1264 Other adjustments, net (+ or -) –116



1290 Outstanding, end of year 15,680 22,718 17,412

As authorized by the 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 Efforts and Their Budgetary Effects chapter in the Analytical Perspectives volume.

Balance Sheet (in millions of dollars)


Identification code 20–4277–0–3–376 2009 actual 2010 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 2,756 5,732
Investments in US securities:
1106 Receivables, net 1,217
Non-Federal assets:
1201 Investments in non-Federal securities, net 884 42,444
1201 Investments in non-Federal securities, net 1,123 2,098
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 60,478 15,680
1405 Allowance for subsidy cost (-) –27,735 –3,147
1405 Allowance for subsidy cost (-) –8,649


1499 Net present value of assets related to direct loans 32,743 3,884


1999 Total assets 37,506 55,375
LIABILITIES:
Federal liabilities:
2104 Resources payable to Treasury 26,653 48,452
2105 Other 10,853 6,923


2999 Total liabilities 37,506 55,375


4999 Total liabilities and net position 37,506 55,375

Troubled Assets Insurance Financing Fund Guaranteed Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4276–0–3–376 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 70 7 2
0741 Modification savings 1,418
0742 Downward reestimate paid to receipt account 517 691
0743 Interest on downward reestimates 53 4



0900 Total new obligations 2,058 702 2

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 183 69
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 1,658 2
Spending authority from offsetting collections, mandatory:
1800 Collected 286 2,250
1825 Spending authority from offsetting collections applied to repay debt –1,617



1850 Spending auth from offsetting collections, mand (total) 286 633
1900 Financing authority(total) 1,944 633 2
1930 Total budgetary resources available 2,127 702 2
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 69

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 2,058 702 2
3040 Financing disbursements (gross) –2,058 –702 –2

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 1,944 633 2
Financing disbursements:
4110 Financing disbursements, gross 2,058 702 2
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4122 Interest on uninvested funds –20 –1
4123 Fees –266
4123 Cash from the Sale of Warrants –2,249



4130 Offsets against gross financing auth and disbursements (total) –286 –2,250



4160 Financing authority, net (mandatory) 1,658 –1,617 2
4170 Financing disbursements, net (mandatory) 1,772 –1,548 2
4180 Financing authority, net (total) 1,658 –1,617 2
4190 Financing disbursements, net (total) 1,772 –1,548 2

Status of Guaranteed Loans (in millions of dollars)


Identification code 20–4276–0–3–376 2010 actual CR 2012 est.

Position with respect to appropriations act limitation on commitments:
2150 Total guaranteed loan commitments

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 251,400
2264 Adjustments: Other adjustments, net –251,400



2290 Outstanding, end of year

As authorized by the 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 the Analytical Perspectives Volume.

Balance Sheet (in millions of dollars)


Identification code 20–4276–0–3–376 2009 actual 2010 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 182 69
1201 Non-Federal assets: Investments in non-Federal securities, net 4,034 3,055


1999 Total assets 4,216 3,124
LIABILITIES:
Federal liabilities:
2103 Debt 774 2,433
2105 Other 1,173 691
2204 Non-Federal liabilities: Liabilities for loan guarantees 2,269


2999 Total liabilities 4,216 3,124


4999 Total liabilities and net position 4,216 3,124

Troubled Asset Relief Program Equity Purchase Program

Program and Financing (in millions of dollars)


Identification code 20–0134–0–1–376 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0701 Direct loan subsidy 2,959
0703 Subsidy for modifications of direct loans 1,498 4
0705 Reestimates of direct loan subsidy 203
0706 Interest on reestimates of direct loan subsidy 123



0900 Total new obligations (object class 33.0) 4,457 330

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 4,558 330
1930 Total budgetary resources available 4,558 330
Memorandum (non-add) entries:
1940 Unobligated balance expiring –101

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 27,127 22,668
3030 Obligations incurred, unexpired accounts 4,457 330
3040 Outlays (gross) –8,451 –4,635
3081 Recoveries of prior year unpaid obligations, expired –465 –18,363
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 22,668

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 4,558 330
Outlays, gross:
4100 Outlays from new mandatory authority 3,902 330
4101 Outlays from mandatory balances 4,549 4,305



4110 Outlays, gross (total) 8,451 4,635
4180 Budget authority, net (total) 4,558 330
4190 Outlays, net (total) 8,451 4,635

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


Identification code 20–0134–0–1–376 2010 actual CR 2012 est.

Direct loan levels supportable by subsidy budget authority:
115001 Capital Purchase Program 277
115004 Automotive Industry Financing Program (Equity) 3,790
115005 Legacy Securities Public-Private Investment Program 6,627
115006 Community Development Capital Initiative 570



115999 Total direct loan levels 11,264
Direct loan subsidy (in percent):
132001 Capital Purchase Program 5.77 0.00
132004 Automotive Industry Financing Program (Equity) 30.25 0.00
132005 Legacy Securities Public-Private Investment Program 22.97 0.00
132006 Community Development Capital Initiative 48.06 0.00



132999 Weighted average subsidy rate 26.27 0.00
Direct loan subsidy budget authority:
133001 Capital Purchase Program 16
133004 Automotive Industry Financing Program (Equity) 1,146
133005 Legacy Securities Public-Private Investment Program 1,522
133006 Community Development Capital Initiative 274



133999 Total subsidy budget authority 2,959
Direct loan subsidy outlays:
134001 Capital Purchase Program –16 –1,010
134002 AIG Investments 4,293 3,732
134004 Automotive Industry Financing Program (Equity) 2,645
134005 Legacy Securities Public-Private Investment Program 1,223 573
134006 Community Development Capital Initiative 274



134999 Total subsidy outlays 8,419 3,295
Direct loan upward reestimates:
135001 Capital Purchase Program 34
135003 Targeted Investment Program 278
135006 Community Development Capital Initiative 13



135999 Total upward reestimate budget authority 325
Direct loan downward reestimates:
137001 Capital Purchase Program –61,261 –7,558
137002 AIG Investments –9,762 –21,777
137003 Targeted Investment Program –23,623
137004 Automotive Industry Financing Program (Equity) –3,565 –3,823
137005 Legacy Securities Public-Private Investment Program –2,109



137999 Total downward reestimate budget authority –98,211 –35,267

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 TARP equity purchase obligations (including modifications of equity purchases that resulted from obligations in any year). The subsidy amounts are estimated on a present value basis using a risk-adjusted discount rate, as required by EESA. The equity purchase programs serviced by this account include the American International Group Investment Program (AIGP), Targeted Investment Program (TIP), Automotive Industry Financing Program (AIFP), Public-Private Investment Program (PPIP), Community Development Capital Initiative (CDCI), and the Capital Purchase Program (CPP). The AIGP was 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 to the American automotive industry, which would have resulted in widespread damage to the U.S. economy. The PPIP was developed to improve the condition of financial institutions by facilitating the removal of legacy assets from their balance sheets. The CDCI was designed to increase lending to small businesses in the country's hardest-hit communities by investing lower-cost capital in Community Development Financial Institutions. The purpose of the CPP was to stabilize the financial system by building the capital base of healthy, viable U.S. financial institutions, which in turn would increase the capacity of those institutions to lend to businesses and consumers and support the economy. In December 2010, the Treasury Department sold its remaining shares of Citigroup common stock acquired as part of Citigroup's participation in the CPP. In aggregate, Treasury received approximately $32 billion from the sale of 7.7 billion shares of Citigroup common stock, which represents a positive return of nearly $7 billion on the Citigroup CPP investment. As a result of the Citigroup sale, and higher-than-expected repayments, the CPP is estimated to yield net positive returns to the taxpayer.

The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted on July 21, 2010, reduced TARP authority to purchase troubled assets from $700 billion to $475 billion; required that repayments of amounts invested under TARP cannot be used to increase purchase authority and are dedicated to reducing the Federal debt; and prohibited new obligations for any program or initiative that had not been initiated by June 25, 2010.

The authority to make new financial commitments via the TARP expired on October 3, 2010 under the terms of EESA. However, Treasury can continue to execute commitments entered into before October 3, 2010. For more details, please see the Financial Stabilization Efforts and Their Budgetary Effects chapter in the Analytical Perspectives volume.

Troubled Asset Relief Program Equity Purchase Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4278–0–3–376 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 11,265
0713 Payment of interest to Treasury 4,385 12,469 9,053
0741 Modification savings 32 1,014
0742 Downward reestimate paid to receipt account 90,601 30,677
0743 Interest on downward reestimates 7,611 4,589



0900 Total new obligations 113,894 48,749 9,053

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 8,762 10,447 4,233
1021 Recoveries of prior year unpaid obligations 1,343 511
1024 Unobligated balance of borrowing authority withdrawn –878 –511



1050 Unobligated balance (total) 9,227 10,447 4,233
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 22,441 39,923 287
1421 Borrowing authority applied to repay debt –185



1440 Borrowing authority, mandatory (total) 22,256 39,923 287
Spending authority from offsetting collections, mandatory:
1800 Collected 145,082 57,551 28,186
1801 Change in uncollected payments, Federal sources –4,459 –22,668
1825 Spending authority from offsetting collections applied to repay debt –47,765 –32,271 –21,528



1850 Spending auth from offsetting collections, mand (total) 92,858 2,612 6,658
1900 Financing authority(total) 115,114 42,535 6,945
1930 Total budgetary resources available 124,341 52,982 11,178
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 10,447 4,233 2,125

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 28,852 24,849
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –27,127 –22,668



3020 Obligated balance, start of year (net) 1,725 2,181
3030 Obligations incurred, unexpired accounts 113,894 48,749 9,053
3040 Financing disbursements (gross) –116,554 –73,087 –9,053
3050 Change in uncollected pymts, Fed sources, unexpired 4,459 22,668
3080 Recoveries of prior year unpaid obligations, unexpired –1,343 –511
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 24,849
3091 Uncollected pymts, Fed sources, end of year –22,668



3100 Obligated balance, end of year (net) 2,181

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 115,114 42,535 6,945
Financing disbursements:
4110 Financing disbursements, gross 116,554 73,087 9,053
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –8,451 –7,581
4122 Interest on uninvested funds –851 –2,966 –1,535
4123 Dividends –5,646 –1,531 –797
4123 Warrants –7,913 –21,174 –10,082
4123 Redemption –122,221 –24,299 –15,772



4130 Offsets against gross financing auth and disbursements (total) –145,082 –57,551 –28,186
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 4,459 22,668



4160 Financing authority, net (mandatory) –25,509 7,652 –21,241
4170 Financing disbursements, net (mandatory) –28,528 15,536 –19,133
4180 Financing authority, net (total) –25,509 7,652 –21,241
4190 Financing disbursements, net (total) –28,528 15,536 –19,133

Status of Direct Loans (in millions of dollars)


Identification code 20–4278–0–3–376 2010 actual CR 2012 est.

Position with respect to appropriations act limitation on obligations:
1131 Direct loan obligations exempt from limitation 11,265



1150 Total direct loan obligations 11,265

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 229,606 118,976 119,392
1231 Disbursements: Direct loan disbursements 13,925 24,715
1251 Repayments: Repayments and prepayments –122,221 –24,299 –15,772
Write-offs for default:
1263 Direct loans –5,334
1264 Other adjustments, net (+ or -) 3,000



1290 Outstanding, end of year 118,976 119,392 103,620

As authorized by the 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 Efforts and Their Budgetary Effects chapter in the Analytical Perspectives volume.

Balance Sheet (in millions of dollars)


Identification code 20–4278–0–3–376 2009 actual 2010 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 10,487 12,659
Investments in US securities:
1106 Receivables, net 332
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 204,606 104,079
1401 Direct loans receivable, gross 25,000 14,897
1405 Allowance for subsidy cost (-) –12,648 –8,021
1405 Allowance for subsidy cost (-) –13,817 –16,929


1499 Net present value of assets related to direct loans 203,141 94,026


1999 Total assets 213,628 107,017
LIABILITIES:
Federal liabilities:
2103 Debt 115,907 89,519
2105 Other 97,721 17,498


2999 Total liabilities 213,628 107,017


4999 Total liabilities and net position 213,628 107,017

Troubled Asset Relief Program, Home Affordable Modification Program

Program and Financing (in millions of dollars)


Identification code 20–0136–0–1–604 2010 actual CR 2012 est.

Obligations by program activity:
0001 Home Affordable Modification Program 10,443
0003 FHA Refinance Administrative Expenses 117



0091 Direct program activities, subtotal 10,560
Credit program obligations:
0702 Loan guarantee subsidy 8,000



0900 Total new obligations (object class 33.0) 18,560

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 18,396
Budget authority:
Appropriations, mandatory:
1200 Appropriation 164
1930 Total budgetary resources available 18,560
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 27,065 45,082 35,269
3030 Obligations incurred, unexpired accounts 18,560
3040 Outlays (gross) –543 –9,813 –13,230
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 45,082 35,269 22,039

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 164
Outlays, gross:
4101 Outlays from mandatory balances 543 9,813 13,230
4180 Budget authority, net (total) 164
4190 Outlays, net (total) 543 9,813 13,230

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


Identification code 20–0136–0–1–604 2010 actual CR 2012 est.

Guaranteed loan levels supportable by subsidy budget authority:
215001 FHA Refi Letter of Credit 60,000 83,681



215999 Total loan guarantee levels 60,000 83,681
Guaranteed loan subsidy (in percent):
232001 FHA Refi Letter of Credit 0.00 4.37 4.90



232999 Weighted average subsidy rate 0.00 4.37 4.90
Guaranteed loan subsidy budget authority:
233001 FHA Refi Letter of Credit 2,621 4,103



233999 Total subsidy budget authority 2,621 4,103
Guaranteed loan subsidy outlays:
234001 FHA Refi Letter of Credit 2,621 4,103



234999 Total subsidy outlays 2,621 4,103

The Making Home Affordable (MHA) Program was launched in March 2009 under the authority of Sections 101 and 109 of the Emergency Economic Stabilization Act of 2008, as amended (P.L. 110–343) (EESA). The centerpiece of MHA is its first lien modification program, the Home Affordable Modification Program (HAMP) which offers affordable and sustainable mortgage modifications to responsible homeowners at risk of losing their homes to foreclosure. Complementing HAMP are other MHA programs to provide temporary mortgage payment relief to unemployed borrowers; to increase affordability by modifying second mortgages when a corresponding first mortgage is modified under HAMP; to assist borrowers whose loans are highly overleveraged by encouraging servicers to reduce principal; and for borrowers who are unable to retain homeownership, provide a dignified transition to more affordable housing through a short sale or deed-in-lieu of foreclosure. To date, more than one and a half million borrowers have been offered trial modifications under MHA, and approximately 550,000 homeowners have had their mortgage payments permanently reduced by over $500 per month. Additionally, state Housing Finance Agencies in eighteen states and the District of Columbia which have been most heavily impacted by the housing crisis, have been allocated a total of $7.6 billion under EESA to initiate locally-tailored foreclosure prevention programs, including mortgage payment assistance for unemployed borrowers and principal reduction of overleveraged loans. Funds under EESA are also supporting an FHA Program refinance that allows overleveraged homeowners to refinance into a new FHA-insured loan if their existing mortgage holders agree to a short refinance and to write down principal. For more details, please see the Financial Stabilization Efforts and Their Budgetary Effects chapter in the Analytical Perspectives volume.

Troubled Asset Relief Program, Home Affordable Modification Program, Letter of Credit Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4329–0–3–371 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0711 Default claim payments on principal 8 155
0713 Payment of interest to Treasury 11



0900 Total new obligations 8 166

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 2,613
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 2,621 4,103
1930 Total budgetary resources available 2,621 6,716
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 2,613 6,550

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 8 166
3040 Financing disbursements (gross) –8 –155

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 2,621 4,103
Financing disbursements:
4110 Financing disbursements, gross 8 155
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –2,621 –4,103



4160 Financing authority, net (mandatory)
4170 Financing disbursements, net (mandatory) –2,613 –3,948
4180 Financing authority, net (total)
4190 Financing disbursements, net (total) –2,613 –3,948

Status of Guaranteed Loans (in millions of dollars)


Identification code 20–4329–0–3–371 2010 actual CR 2012 est.

Position with respect to appropriations act limitation on commitments:
2131 Guaranteed loan commitments exempt from limitation 60,000 83,681



2150 Total guaranteed loan commitments 60,000 83,681

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 59,726
2231 Disbursements of new guaranteed loans 60,000 83,681
2251 Repayments and prepayments –230 –4,754
Adjustments:
2263 Terminations for default that result in claim payments –8 –144
2264 Other adjustments, net –36 –706



2290 Outstanding, end of year 59,726 137,803

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 2,613 6,572

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, [$49,600,000]$47,374,000. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0133–0–1–376 2010 actual CR 2012 est.

Obligations by program activity:
0001 Direct program activity 33 51 49

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 10 36 21
1020 Adjustment of unobligated bal brought forward, Oct 1 35
1021 Recoveries of prior year unpaid obligations 1



1050 Unobligated balance (total) 46 36 21
Budget authority:
Appropriations, discretionary:
1100 Appropriation 23 36 47
1900 Budget authority (total) 23 36 47
1930 Total budgetary resources available 69 72 68
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 36 21 19

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 8 9 9
3030 Obligations incurred, unexpired accounts 33 51 49
3040 Outlays (gross) –31 –51 –49
3080 Recoveries of prior year unpaid obligations, unexpired –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 9 9 9

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 23 36 47
Outlays, gross:
4010 Outlays from new discretionary authority 20 29 38
4011 Outlays from discretionary balances 3 7



4020 Outlays, gross (total) 20 32 45
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 11 19 4
4180 Budget authority, net (total) 23 36 47
4190 Outlays, net (total) 31 51 49

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 related to TARP funding, thereby being a voice for, and protecting the interests of, those who fund the TARP programs—the American taxpayers.

In 2012, 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 2010 actual CR 2012 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 11 18 18
11.5 Other personnel compensation 3 4 4



11.9 Total personnel compensation 14 22 22
12.1 Civilian personnel benefits 4 6 6
21.0 Travel and transportation of persons 1 1 1
25.1 Advisory and assistance services 5 8 7
25.2 Other services from non-federal sources 1 1
25.3 Other goods and services from federal sources 9 11 10
26.0 Supplies and materials 1 1
31.0 Equipment 1 1



99.9 Total new obligations 33 51 49

Employment Summary


Identification code 20–0133–0–1–376 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 112 192 192

Small Business Lending Fund Program Account

Program and Financing (in millions of dollars)


Identification code 20–0141–0–1–376 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0701 Direct loan subsidy 1,260
0709 Administrative expenses 55 73



0900 Total new obligations 1,315 73

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 1,315 73
1930 Total budgetary resources available 1,315 73

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 1,315 73
3040 Outlays (gross) –1,313 –73

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 1,315 73
Outlays, gross:
4100 Outlays from new mandatory authority 1,313 73
4180 Budget authority, net (total) 1,315 73
4190 Outlays, net (total) 1,313 73

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


Identification code 20–0141–0–1–376 2010 actual CR 2012 est.

Direct loan levels supportable by subsidy budget authority:
115001 Small Business Lending Fund Investments 17,399



115999 Total direct loan levels 17,399
Direct loan subsidy (in percent):
132001 Small Business Lending Fund Investments 7.24 0.00



132999 Weighted average subsidy rate 7.24 0.00
Direct loan subsidy budget authority:
133001 Small Business Lending Fund Investments 1,260



133999 Total subsidy budget authority 1,260
Direct loan subsidy outlays:
134001 Small Business Lending Fund Investments 1,260



134999 Total subsidy outlays 1,260

Administrative expense data:
3510 Budget authority 55 73
3580 Outlays from balances 2
3590 Outlays from new authority 53 71

Enacted as part of the Small Business Jobs and Credit Act of 2010 (P.L. 111–240), the Small Business Lending Fund (SBLF) is a program that is designed to increase the availability of credit to small businesses by providing capital to eligible financial institutions with assets of less than $10 billion. The dividend or interest rate a bank pays for SBLF funding will be reduced as the institution's qualified small business lending increases. Because banks leverage their capital, the Small Business Lending Fund could help increase lending to small businesses in amounts that are multiples of the total capital provided to participating institutions. These new loans will help small businesses grow and create new jobs.

The account totals also include the costs of administering the program.

Object Classification (in millions of dollars)


Identification code 20–0141–0–1–376 2010 actual CR 2012 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 5 7
12.1 Civilian personnel benefits 2 3
25.1 Advisory and assistance services 39 52
25.3 Other goods and services from federal sources 9 11
33.0 Investments and loans 1,260



99.9 Total new obligations 1,315 73

Employment Summary


Identification code 20–0141–0–1–376 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 41 55

Small Business Lending Fund Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4349–0–3–376 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 17,399
0713 Payment of interest to Treasury 325 628



0900 Total new obligations 17,724 628

Budgetary Resources:
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 16,247
Spending authority from offsetting collections, mandatory:
1800 Collected 2,162 1,979
1825 Spending authority from offsetting collections applied to repay debt –685 –1,351



1850 Spending auth from offsetting collections, mand (total) 1,477 628
1900 Financing authority(total) 17,724 628
1930 Total budgetary resources available 17,724 628

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 17,724 628
3040 Financing disbursements (gross) –17,724 –628
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross)

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 17,724 628
Financing disbursements:
4110 Financing disbursements, gross 17,724 628
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –1,260
4123 Non-Federal sources –813 –1,439
4123 Non-Federal sources –89 –540



4130 Offsets against gross financing auth and disbursements (total) –2,162 –1,979



4160 Financing authority, net (mandatory) 15,562 –1,351
4170 Financing disbursements, net (mandatory) 15,562 –1,351
4180 Financing authority, net (total) 15,562 –1,351
4190 Financing disbursements, net (total) 15,562 –1,351

Status of Direct Loans (in millions of dollars)


Identification code 20–4349–0–3–376 2010 actual CR 2012 est.

Position with respect to appropriations act limitation on obligations:
1131 Direct loan obligations exempt from limitation 17,399



1150 Total direct loan obligations 17,399

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 16,586
1231 Disbursements: Direct loan disbursements 17,399
1251 Repayments: Repayments and prepayments –813 –1,439
1263 Write-offs for default: Direct loans –8



1290 Outstanding, end of year 16,586 15,139

As authorized by the Small Business Jobs Act of 2010 (P.L. 111–240) 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 capital obligated in 2011 and beyond. The amounts in this account are a means of financing and are not included in the budget totals.

State Small Business Credit Initiative

Program and Financing (in millions of dollars)


Identification code 20–0142–0–1–376 2010 actual CR 2012 est.

Obligations by program activity:
0001 Administrative Costs 6 7
0002 State Small Business Credit 487 732



0900 Total new obligations 493 739

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1,500 1,007
Budget authority:
Appropriations, mandatory:
1200 Appropriation 1,500
1930 Total budgetary resources available 1,500 1,500 1,007
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1,500 1,007 268

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 493 739
3040 Outlays (gross) –493 –739

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 1,500
Outlays, gross:
4101 Outlays from mandatory balances 493 739
4180 Budget authority, net (total) 1,500
4190 Outlays, net (total) 493 739

Section 3003 of the Small Business Jobs and Credit Act of 2010 (P.L. 111–240) authorizes and directs the Secretary of Treasury to establish a seven-year State Small Business Credit Initiative (SSBCI). This account represents the appropriation in the amount of $1.5 billion to be used by the U.S. Department of the Treasury to provide direct support to States for use in programs designed to increase access to credit for small businesses. Additionally, this appropriation includes reasonable costs of administering the program and less than three percent has been allocated for the administration over the life of the program.

Pursuant to the Act, funds are allocated to all fifty States along with the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of Northern Mariana Islands, Guam, American Samoa, and the United States Virgin Islands according to a statutory formula that takes into account a State's job losses in proportion to the aggregate job losses of all States. Under the Act, each State or territory is guaranteed a minimum allocation of 0.9 percent of the Federal funds. If a State did not file a timely Notice of Intent or fails to meet the application deadline, municipalities within that State may apply for their pro rata share of the State's allocation, provided that such municipalities can meet all the program criteria. Up to three municipalities within a State may be eligible to receive SSBCI funds.

Object Classification (in millions of dollars)


Identification code 20–0142–0–1–376 2010 actual CR 2012 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 1 1
12.1 Civilian personnel benefits 1
25.1 Advisory and assistance services 5 5
41.0 Grants, subsidies, and contributions 487 732



99.9 Total new obligations 493 739

Employment Summary


Identification code 20–0142–0–1–376 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 9 12

GSE Preferred Stock Purchase Agreements

Program and Financing (in millions of dollars)


Identification code 20–0125–0–1–371 2010 actual CR 2012 est.

Obligations by program activity:
0001 Direct program activity 52,600 47,500 28,700



0900 Total new obligations (object class 33.0) 52,600 47,500 28,700

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 304,400 251,800 204,300
1930 Total budgetary resources available 304,400 251,800 204,300
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 251,800 204,300 175,600

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 52,600 47,500 28,700
3040 Outlays (gross) –52,600 –47,500 –28,700

Budget authority and outlays, net:
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 52,600 47,500 28,700
4180 Budget authority, net (total)
4190 Outlays, net (total) 52,600 47,500 28,700

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 in December 2009, Treasury modified the funding commitments in the purchase agreements to the greater of $200 billion or $200 billion plus cumulative net worth deficits experienced during 2010–2012, less any surplus remaining as of December 31, 2012. Treasury's authority to enter new purchase obligations sunset on December 31, 2009. As of December 31, 2010, Treasury had made payments of $150.8 billion under the PSPAs and received $20.2 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 2010 actual CR 2012 est.

Obligations by program activity:
0010 Financial Agent Services 21 20 17
Credit program obligations:
0705 Reestimates of direct loan subsidy 2,508
0706 Interest on reestimates of direct loan subsidy 264



0791 Direct program activities, subtotal 2,772



0900 Total new obligations 21 2,792 17

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 2,772
1221 Appropriations transferred from other accounts 29 20 17



1260 Appropriations, mandatory (total) 29 2,792 17
1930 Total budgetary resources available 29 2,792 17
Memorandum (non-add) entries:
1940 Unobligated balance expiring –8

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 3
3030 Obligations incurred, unexpired accounts 21 2,792 17
3031 Obligations incurred, expired accounts 6
3040 Outlays (gross) –24 –2,795 –17
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 3

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross
Mandatory:
4090 Budget authority, gross 29 2,792 17
Outlays, gross:
4100 Outlays from new mandatory authority 18 2,792 17
4101 Outlays from mandatory balances 6 3



4110 Outlays, gross (total) 24 2,795 17
4180 Budget authority, net (total) 29 2,792 17
4190 Outlays, net (total) 24 2,795 17

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


Identification code 20–0126–0–1–371 2010 actual CR 2012 est.

Direct loan levels supportable by subsidy budget authority:
115001 GSE MBS Purchases 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 6,780
115005 Temporary Credit and Liquidity Program MF 792



115999 Total direct loan levels 52,759
Direct loan subsidy (in percent):
132001 GSE MBS Purchases –3.73 0.00 0.00
132002 New Issue Bond Program SF –0.05 0.00 0.00
132003 New Issue Bond Program MF –2.55 0.00 0.00
132004 Temporary Credit and Liquidity Program SF –7.34 0.00 0.00
132005 Temporary Credit and Liquidity Program MF –6.86 0.00 0.00



132999 Weighted average subsidy rate –3.31 0.00 0.00
Direct loan subsidy budget authority:
133001 GSE MBS Purchases –1,114
133002 New Issue Bond Program SF –6
133003 New Issue Bond Program MF –73
133004 Temporary Credit and Liquidity Program SF –498
133005 Temporary Credit and Liquidity Program MF –54



133999 Total subsidy budget authority –1,746
Direct loan subsidy outlays:
134001 GSE MBS Purchases –1,114
134002 New Issue Bond Program SF –3
134003 New Issue Bond Program MF –21
134004 Temporary Credit and Liquidity Program SF –9 –185
134005 Temporary Credit and Liquidity Program MF –67 –42



134999 Total subsidy outlays –1,214 –227
Direct loan upward reestimates:
135001 GSE MBS Purchases 950
135002 New Issue Bond Program SF 1,127
135003 New Issue Bond Program MF 695



135999 Total upward reestimate budget authority 2,772
Direct loan downward reestimates:
137001 GSE MBS Purchases –8,391 –467



137999 Total downward reestimate budget authority –8,391 –467

In September 2008, Treasury initiated a temporary program to purchase mortgage-backed securities (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 Liquidity Program (TCLP) provides 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 purchased $15.3 billion in securities of Fannie Mae and Freddie Mac to be 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.

Object Classification (in millions of dollars)


Identification code 20–0126–0–1–371 2010 actual CR 2012 est.

Direct obligations:
25.1 Advisory and assistance services 21 20 17
41.0 Grants, subsidies, and contributions 2,772



99.9 Total new obligations 21 2,792 17

GSE Mortgage-Backed Securities Purchase Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4272–0–3–371 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 29,878
0713 Payment of interest to Treasury 5,908 4,869 6,512
0740 Negative subsidy obligations 1,115
0742 Downward reestimate paid to receipt account 8,165 454
0743 Interest on downward reestimates 226 13



0900 Total new obligations 45,292 5,336 6,512

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 32,883 12,101 2,319
1021 Recoveries of prior year unpaid obligations 6
1023 Unobligated balances applied to repay debt –32,889 –12,101



1050 Unobligated balance (total) 2,319
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 54,507 467
Spending authority from offsetting collections, mandatory:
1800 Collected 48,602 41,397 39,201
1825 Spending authority from offsetting collections applied to repay debt –45,716 –34,209 –35,008



1850 Spending auth from offsetting collections, mand (total) 2,886 7,188 4,193
1900 Financing authority(total) 57,393 7,655 4,193
1930 Total budgetary resources available 57,393 7,655 6,512
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 12,101 2,319

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 6 3,209
3030 Obligations incurred, unexpired accounts 45,292 5,336 6,512
3040 Financing disbursements (gross) –45,292 –2,127 –6,972
3080 Recoveries of prior year unpaid obligations, unexpired –6
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 3,209 2,749

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 57,393 7,655 4,193
Financing disbursements:
4110 Financing disbursements, gross 45,292 2,127 6,972
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –950
4122 Interest on uninvested funds –842 –1,369
4123 Non-Federal sources- Interest –8,896 –6,541 –7,124
4123 Non-Federal sources - Principal –38,864 –32,537 –32,077



4130 Offsets against gross financing auth and disbursements (total) –48,602 –41,397 –39,201



4160 Financing authority, net (mandatory) 8,791 –33,742 –35,008
4170 Financing disbursements, net (mandatory) –3,310 –39,270 –32,229
4180 Financing authority, net (total) 8,791 –33,742 –35,008
4190 Financing disbursements, net (total) –3,310 –39,270 –32,229

Status of Direct Loans (in millions of dollars)


Identification code 20–4272–0–3–371 2010 actual CR 2012 est.

Position with respect to appropriations act limitation on obligations:
1131 Direct loan obligations exempt from limitation 29,878



1150 Total direct loan obligations 29,878

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 173,325 164,339 125,906
1231 Disbursements: Direct loan disbursements 29,878
1251 Repayments: Repayments and prepayments –38,864 –38,433 –32,077



1290 Outstanding, end of year 164,339 125,906 93,829

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 2009 actual 2010 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 32,889 12,101
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 185,696 164,339
1405 Allowance for subsidy cost (-) 11,093 8,845


1499 Net present value of assets related to direct loans 196,789 173,184


1999 Total assets 229,678 185,285
LIABILITIES:
Federal liabilities:
2103 Debt 229,678 184,818
2105 Other Liabilities without Related Budgetary Obligations 467


2999 Total liabilities 229,678 185,285
NET POSITION:
3999 Total net position


4999 Total liabilities and net position 229,678 185,285

State HFA Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4298–0–3–371 2010 actual CR 2012 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 22,881
0713 Payment of interest to Treasury 759 225 261
0740 Negative subsidy obligations 79
0741 Modification savings 20



0900 Total new obligations 23,739 225 261

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1,168
1020 Adjustment of unobligated bal brought forward, Oct 1 –552
1023 Unobligated balances applied to repay debt –391



1050 Unobligated balance (total) 225
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 26,284
1421 Borrowing authority applied to repay debt –1,600



1440 Borrowing authority, mandatory (total) 24,684
Spending authority from offsetting collections, mandatory:
1800 Collected 223 1,976 3,097
1825 Spending authority from offsetting collections applied to repay debt –1,976 –2,836



1850 Spending auth from offsetting collections, mand (total) 223 261
1900 Financing authority(total) 24,907 261
1930 Total budgetary resources available 24,907 225 261
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1,168

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 7,573 5,001
3001 Adjustments to unpaid obligations, brought forward, Oct 1 552



3020 Obligated balance, start of year (net) 8,125 5,001
3030 Obligations incurred, unexpired accounts 23,739 225 261
3040 Financing disbursements (gross) –16,166 –3,349 –261
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 7,573 5,001 5,001

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 24,907 261
Financing disbursements:
4110 Financing disbursements, gross 16,166 3,349 261
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –1,822
4122 Interest on uninvested funds –193 –3 –11
4123 Non-Federal sources - Interest –30 –51 –2,615
4123 Non-Federal sources - Principal –50 –382
4123 Non-Federal sources - Other –50 –89



4130 Offsets against gross financing auth and disbursements (total) –223 –1,976 –3,097



4160 Financing authority, net (mandatory) 24,684 –1,976 –2,836
4170 Financing disbursements, net (mandatory) 15,943 1,373 –2,836
4180 Financing authority, net (total) 24,684 –1,976 –2,836
4190 Financing disbursements, net (total) 15,943 1,373 –2,836

Status of Direct Loans (in millions of dollars)


Identification code 20–4298–0–3–371 2010 actual CR 2012 est.

Position with respect to appropriations act limitation on obligations:
1131 Direct loan obligations exempt from limitation 22,881



1150 Total direct loan obligations 22,881

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 15,307 18,281
1231 Disbursements: Direct loan disbursements 15,309 3,125
1251 Repayments: Repayments and prepayments –2 –151 –3,014



1290 Outstanding, end of year 15,307 18,281 15,267

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.

Balance Sheet (in millions of dollars)


Identification code 20–4298–0–3–371 2009 actual 2010 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 1,168
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 15,307
1405 Allowance for subsidy cost (-) 636


1499 Net present value of assets related to direct loans 15,943


1999 Total assets 17,111
LIABILITIES:
2103 Federal liabilities: Debt 17,111


2999 Total liabilities 17,111
NET POSITION:
3999 Total net position


4999 Total liabilities and net position 17,111

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 2010 actual CR 2012 est.

0100 Balance, start of year
Receipts:
0240 Payment from the Community Development Financial Institutions Fund 80 80



0299 Total receipts and collections 80 80



0400 Total: Balances and collections 80 80
Appropriations:
0500 Capital Magnet Fund, Community Develpment Financial Institutions –80 –80



0599 Total appropriations –80 –80



0799 Balance, end of year

Program and Financing (in millions of dollars)


Identification code 20–8524–0–7–451 2010 actual CR 2012 est.

Obligations by program activity:
0001 Direct program activity 160



0900 Total new obligations (object class 41.0) 160

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 80
Budget authority:
Appropriations, discretionary:
1102 Appropriation (trust fund) 80 80
1930 Total budgetary resources available 80 160
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 80

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross)
3030 Obligations incurred, unexpired accounts 160
3040 Outlays (gross) –160
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross)

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 80 80
Outlays, gross:
4010 Outlays from new discretionary authority 80
4011 Outlays from discretionary balances 80



4020 Outlays, gross (total) 160
4180 Budget authority, net (total) 80 80
4190 Outlays, net (total) 160

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 were transferred from the CDFI Fund program account.

Gifts and Bequests

Program and Financing (in millions of dollars)


Identification code 20–8790–0–7–803 2010 actual CR 2012 est.

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1 1 1
1930 Total budgetary resources available 1 1 1
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1 1 1
4180 Budget authority, net (total)
4190 Outlays, net (total)

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 1 1
5001 Total investments, EOY: Federal securities: Par value 1

This account was established pursuant to 31 USC 321 to receive donations or gifts, which fund specific building restoration projects, such as the restoration of the Cash Room ceiling, Southeast Dome, monumental West Dome and lighting fixtures for the West Lobby.

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, [$100,419,000]$84,297,000, of which not to exceed [$26,085,000]$15,835,000 shall remain available until September 30, [2013]2014[; and of which $9,268,000 shall remain available until September 30, 2012]: Provided, That funds appropriated in this account may be used to procure personal services contracts. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0173–0–1–751 2010 actual CR 2012 est.

Obligations by program activity:
0001 BSA administration and Analysis 96 112 84
0002 Regulatory support programs, including money services businesses 10 9
0003 IT Modernization (transfer from 20–5697) 25



0091 Direct program activities, subtotal 106 121 109
0801 Reimbursable program 12 20 3



0900 Total new obligations 118 141 112

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 20 25 15
1011 Unobligated balance transferred from other accounts 30



1050 Unobligated balance (total) 20 25 45
Budget authority:
Appropriations, discretionary:
1100 Appropriation 111 111 84
1121 Appropriations transferred from other accounts 30



1160 Appropriation, discretionary (total) 111 111 114
Spending authority from offsetting collections, discretionary:
1700 Collected 2 20
1701 Change in uncollected payments, Federal sources 10



1750 Spending auth from offsetting collections, disc (total) 12 20
1900 Budget authority (total) 123 131 114
1930 Total budgetary resources available 143 156 159
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 25 15 47

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 14 30 47
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –4 –10 –10



3020 Obligated balance, start of year (net) 10 20 37
3030 Obligations incurred, unexpired accounts 118 141 112
3031 Obligations incurred, expired accounts 1
3040 Outlays (gross) –102 –124 –114
3050 Change in uncollected pymts, Fed sources, unexpired –10
3051 Change in uncollected pymts, Fed sources, expired 4
3081 Recoveries of prior year unpaid obligations, expired –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 30 47 45
3091 Uncollected pymts, Fed sources, end of year –10 –10 –10



3100 Obligated balance, end of year (net) 20 37 35

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 123 131 114
Outlays, gross:
4010 Outlays from new discretionary authority 82 104 86
4011 Outlays from discretionary balances 20 20 28



4020 Outlays, gross (total) 102 124 114
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –4 –20
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –10
4052 Offsetting collections credited to expired accounts 2



4060 Additional offsets against budget authority only (total) –8



4070 Budget authority, net (discretionary) 111 111 114
4080 Outlays, net (discretionary) 98 104 114
4180 Budget authority, net (total) 111 111 114
4190 Outlays, net (total) 98 104 114

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.

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. FinCEN will continue to support modernization of data collection, which will be fully funded by a transfer from the Treasury Forfeiture Fund in FY 2012. 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.

Object Classification (in millions of dollars)


Identification code 20–0173–0–1–751 2010 actual CR 2012 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 35 37 34
11.5 Other personnel compensation 1 1 1



11.9 Total personnel compensation 36 38 35
12.1 Civilian personnel benefits 10 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 8 2 2
25.2 Other services from non-federal sources 8 8 8
25.3 Other goods and services from federal sources 14 15 19
25.4 Operation and maintenance of facilities 1
25.7 Operation and maintenance of equipment 10 10 14
26.0 Supplies and materials 1 1 1
31.0 Equipment 11 29 13



99.0 Direct obligations 106 121 109
99.0 Reimbursable obligations 12 20 3



99.9 Total new obligations 118 141 112

Employment Summary


Identification code 20–0173–0–1–751 2010 actual CR 2012 est.

1001 Direct civilian full-time equivalent employment 328 327 304
2001 Reimbursable civilian full-time equivalent employment 1 1 1

Financial Management Service

Federal Funds

salaries and expenses

For necessary expenses of the Financial Management Service, [$235,253,000]$218,805,000, of which not to exceed [$9,220,000]$4,120,000 shall remain available until September 30, [2013]2014, for information systems modernization initiatives; and of which not to exceed $2,500 shall be available for official reception and representation expenses. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–1801–0–1–803 2010 actual CR 2012 est.

0100 Balance, start of year 1 16
Receipts:
0220 Debt Collection 72 78 78



0400 Total: Balances and collections 72 79 94
Appropriations:
0500 Salaries and Expenses –72 –63 –64
0610 Salaries and Expenses 1



0799 Balance, end of year 1 16 30

Program and Financing (in millions of dollars)


Identification code 20–1801–0–1–803 2010 actual CR 2012 est.

Obligations by program activity:
0005 Payments 146 143 133
0006 Collections 23 24 21
0007 Debt collection 76 63 64
0008 Government-wide accounting and reporting 76 77 65



0091 Direct program activities, subtotal 321 307 283
0801 Reimbursable program 166 154 168



0900 Total new obligations 487 461 451

Budgetary Resources:
Unobligated