DEPARTMENT OF THE TREASURY

Departmental Offices

Federal Funds

Salaries and Expenses

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; terrorism and financial intelligence activities; executive direction program activities; international affairs and economic policy activities; domestic finance and tax policy activities; and Treasury-wide management policies and programs activities, [$308,388,000] $301,216,000: Provided, That of the amount appropriated under this heading, [$100,000,000 is for the Office of Terrorism and Financial Intelligence, of which not to exceed $26,608,000 is available for administrative expenses: Provided further, That of the amount appropriated under this heading,] not to exceed $3,000,000, to remain available until September 30, [2013] 2014, is for information technology modernization requirements; not to exceed $350,000 is for official reception and representation expenses; 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] 2014, is for the Treasury-wide Financial Statement Audit and Internal Control Program: Provided further, That of the amount appropriated under this heading, $500,000, to remain available until September 30, [2013] 2014, is for secure space requirements: Provided further, That of the amount appropriated under this heading, up to $3,400,000, to remain available until September 30, [2014] 2015, is to develop and implement programs within the Office of Critical Infrastructure Protection and Compliance Policy, including entering into cooperative agreements: Provided further, That notwithstanding any other provision of law, of the amount appropriated under this heading, up to $1,000,000 may be contributed to the Organization for Economic Cooperation and Development for the Department's participation in programs related to global tax administration. (Department of the Treasury Appropriations Act, 2012.)

Program and Financing (in millions of dollars)


Identification code 20–0101–0–1–803 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Economic policies and programs 63 59 56
0002 Financial policies and programs 63 72 70
0003 Terrorism and Financial Intelligence 100 100 100
0004 Treasury-wide management policies and programs 37 33 31
0005 Treasury-wide financial statement audit 7 7 7
0007 Executive Direction 37 37 37



0100 Subtotal, Direct programs 307 308 301



0799 Total direct obligations 307 308 301
0811 Reimbursable program 68 70 70



0900 Total new obligations 375 378 371

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 17 20 26
Budget authority:
Appropriations, discretionary:
1100 Appropriation 307 308 301
1121 Appropriations transferred from other accts [20–0520] 3
1121 Appropriations transferred from other accts [20–0106] 1
1121 Appropriations transferred from other accts [19–0113] 1



1160 Appropriation, discretionary (total) 312 308 301
Spending authority from offsetting collections, discretionary:
1700 Collected 45 76 76
1701 Change in uncollected payments, Federal sources 23



1750 Spending auth from offsetting collections, disc (total) 68 76 76
1900 Budget authority (total) 380 384 377
1930 Total budgetary resources available 397 404 403
Memorandum (non-add) entries:
1940 Unobligated balance expiring –2
1941 Unexpired unobligated balance, end of year 20 26 32

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 112 104 56
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –30 –28 –28



3020 Obligated balance, start of year (net) 82 76 28
3030 Obligations incurred, unexpired accounts 375 378 371
3031 Obligations incurred, expired accounts 6
3040 Outlays (gross) –380 –426 –386
3050 Change in uncollected pymts, Fed sources, unexpired –23
3051 Change in uncollected pymts, Fed sources, expired 25
3081 Recoveries of prior year unpaid obligations, expired –9
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 104 56 41
3091 Uncollected pymts, Fed sources, end of year –28 –28 –28



3100 Obligated balance, end of year (net) 76 28 13

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 380 384 377
Outlays, gross:
4010 Outlays from new discretionary authority 295 344 338
4011 Outlays from discretionary balances 85 82 48



4020 Outlays, gross (total) 380 426 386
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –68 –76 –76
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –23
4052 Offsetting collections credited to expired accounts 23



4070 Budget authority, net (discretionary) 312 308 301
4080 Outlays, net (discretionary) 312 350 310
4180 Budget authority, net (total) 312 308 301
4190 Outlays, net (total) 312 350 310

Departmental Offices (DO), as the headquarters bureau for the Department of the Treasury, provides leadership in economic and financial policy, terrorism and financial intelligence, financial crimes, and general management. The Secretary of the Treasury has the primary role of formulating and managing the domestic and international tax and financial policies of the Federal government. Through effective management, policies and leadership, the Treasury Department protects our national security through targeted financial actions, promotes the stability of the nation's financial markets, and ensures the government's ability to collect revenue and fund its operations.

Object Classification (in millions of dollars)


Identification code 20–0101–0–1–803 2011 actual 2012 est. 2013 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 131 133 132
11.3 Other than full-time permanent 2 2 2
11.5 Other personnel compensation 5 5 5



11.9 Total personnel compensation 138 140 139
12.1 Civilian personnel benefits 38 39 38
21.0 Travel and transportation of persons 5 5 5
23.1 Rental payments to GSA 5 6 6
23.3 Communications, utilities, and miscellaneous charges 10 8 8
24.0 Printing and reproduction 2 2 2
25.1 Advisory and assistance services 22 22 21
25.2 Other services from non-Federal sources 28 31 30
25.3 Other goods and services from Federal sources 42 43 41
25.4 Operation and maintenance of facilities 1 1 1
25.7 Operation and maintenance of equipment 2 2 2
26.0 Supplies and materials 7 7 6
31.0 Equipment 1 1 1
32.0 Land and structures 6 1 1



99.0 Direct obligations 307 308 301
99.0 Reimbursable obligations 68 70 70



99.9 Total new obligations 375 378 371

Employment Summary


Identification code 20–0101–0–1–803 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 1,180 1,199 1,187
2001 Reimbursable civilian full-time equivalent employment 147 172 172

Department-wide Systems and Capital Investments Programs

For development and acquisition of automatic data processing equipment, software, and services and for repairs and renovations to buildings owned by the Department of the Treasury, $7,108,000, to remain available until September 30, 2015: Provided, That these funds shall be transferred to accounts and in amounts as necessary to satisfy the requirements of the Department's offices, bureaus, and other organizations: Provided further, That this transfer authority shall be in addition to any other transfer authority provided in this Act.

Program and Financing (in millions of dollars)


Identification code 20–0115–0–1–803 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Direct program activity 22 4 12

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 26 8 5
1021 Recoveries of prior year unpaid obligations 1 1 1



1050 Unobligated balance (total) 27 9 6
Budget authority:
Appropriations, discretionary:
1100 Appropriation 4 7



1160 Appropriation, discretionary (total) 4 7
1900 Budget authority (total) 4 7
1930 Total budgetary resources available 31 9 13
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1
1941 Unexpired unobligated balance, end of year 8 5 1

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 17 21 10
3030 Obligations incurred, unexpired accounts 22 4 12
3040 Outlays (gross) –17 –14 –8
3080 Recoveries of prior year unpaid obligations, unexpired –1 –1 –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 21 10 13



3100 Obligated balance, end of year (net) 21 10 13

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 4 7
Outlays, gross:
4010 Outlays from new discretionary authority 3
4011 Outlays from discretionary balances 17 14 5



4020 Outlays, gross (total) 17 14 8
4180 Budget authority, net (total) 4 7
4190 Outlays, net (total) 17 14 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 2013 Budget provides funds to continue the Treasury implementation of 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; implementation of the Cybersecurity program, which will roll out technology solutions to prevent computer security breaches that would result in loss of public trust in the Department and inappropriate disclosure of sensitive information; and improvements to the Main Treasury building.

Object Classification (in millions of dollars)


Identification code 20–0115–0–1–803 2011 actual 2012 est. 2013 est.

Direct obligations:
25.1 Advisory and assistance services 1
25.2 Other services from non-Federal sources 8 4 12
25.3 Other goods and services from Federal sources 1
31.0 Equipment 2
32.0 Land and structures 10



99.9 Total new obligations 22 4 12

Office of Inspector General

salaries and expenses

For necessary expenses of the Office of Inspector General in carrying out the provisions of the Inspector General Act of 1978, [$29,641,000] as amended, $28,593,000, of which not to exceed $2,000,000 shall be available for official travel expenses, including hire of passenger motor vehicles; and of which not to exceed $100,000 shall be available for unforeseen emergencies of a confidential nature, to be allocated and expended under the direction of the Inspector General of the Treasury[; and of which not to exceed $2,500 shall be available for official reception and representation expenses]. (Department of the Treasury Appropriations Act, 2012.)

Program and Financing (in millions of dollars)


Identification code 20–0106–0–1–803 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Audits 22 23 22
0002 Investigations 7 7 7



0799 Total direct obligations 29 30 29
0801 Reimbursable program 9 13 15



0900 Total new obligations 38 43 44

Budgetary Resources:
Unobligated balance:
1012 Unobligated balance transfers between expired and unexpired accounts 1



1050 Unobligated balance (total) 1
Budget authority:
Appropriations, discretionary:
1100 Appropriation 30 30 29
1120 Appropriations transferred to other accts [20–0101] –1



1160 Appropriation, discretionary (total) 29 30 29
Spending authority from offsetting collections, discretionary:
1700 Collected 3 13 15
1701 Change in uncollected payments, Federal sources 6



1750 Spending auth from offsetting collections, disc (total) 9 13 15
1900 Budget authority (total) 38 43 44
1930 Total budgetary resources available 39 43 44
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 12 12 14
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –6 –6 –6



3020 Obligated balance, start of year (net) 6 6 8
3030 Obligations incurred, unexpired accounts 38 43 44
3031 Obligations incurred, expired accounts 1
3040 Outlays (gross) –37 –41 –42
3050 Change in uncollected pymts, Fed sources, unexpired –6
3051 Change in uncollected pymts, Fed sources, expired 6
3081 Recoveries of prior year unpaid obligations, expired –2
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 12 14 16
3091 Uncollected pymts, Fed sources, end of year –6 –6 –6



3100 Obligated balance, end of year (net) 6 8 10

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 38 43 44
Outlays, gross:
4010 Outlays from new discretionary authority 28 29 28
4011 Outlays from discretionary balances 9 12 14



4020 Outlays, gross (total) 37 41 42
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –9 –13 –15
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –6
4052 Offsetting collections credited to expired accounts 6



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

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 2013 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 2013.

In 2013, 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 2013, 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 2011 actual 2012 est. 2013 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 15 18 17
11.5 Other personnel compensation 1 1 1



11.9 Total personnel compensation 16 19 18
12.1 Civilian personnel benefits 5 5 5
21.0 Travel and transportation of persons 1 1 1
23.1 Rental payments to GSA 2 2 2
23.3 Communications, utilities, and miscellaneous charges 1 1
25.2 Other services from non-Federal sources 1 1 1
25.3 Other goods and services from Federal sources 3 1 1
31.0 Equipment 1



99.0 Direct obligations 29 30 29
99.0 Reimbursable obligations 9 13 15



99.9 Total new obligations 38 43 44

Employment Summary


Identification code 20–0106–0–1–803 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 163 172 172
2001 Reimbursable civilian full-time equivalent employment 19 19 19

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; [$151,696,000] $153,834,000, of which not to exceed $6,000,000 shall be available for official travel expenses; of which not to exceed $500,000 shall be available for unforeseen emergencies of a confidential nature, to be allocated and expended under the direction of the Inspector General for Tax Administration[; and of which not to exceed $1,500 shall be available for official reception and representation expenses]. (Department of the Treasury Appropriations Act, 2012.)

Program and Financing (in millions of dollars)


Identification code 20–0119–0–1–803 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Audit 59 57 60
0002 Investigations 95 94 93



0799 Total direct obligations 154 151 153
0801 Reimbursable program 1 1 1



0900 Total new obligations 155 152 154

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 4 2 3
Budget authority:
Appropriations, discretionary:
1100 New budget authority (gross), detail 152 152 154



1160 Appropriation, discretionary (total) 152 152 154
Spending authority from offsetting collections, discretionary:
1700 Collected 1 1 1



1750 Spending auth from offsetting collections, disc (total) 1 1 1
1900 Budget authority (total) 153 153 155
1930 Total budgetary resources available 157 155 158
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 2 3 4

Change in obligated balance:
Obligated balance, start of year (net):
3000 Change in obligated balances 18 15 12
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –1



3020 Obligated balance, start of year (net) 17 15 12
3030 Obligations incurred, unexpired accounts 155 152 154
3031 Obligations incurred, expired accounts 1
3040 Outlays (gross) –157 –155 –155
3051 Change in uncollected pymts, Fed sources, expired 1
3081 Recoveries of prior year unpaid obligations, expired –2
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 15 12 11



3100 Obligated balance, end of year (net) 15 12 11

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 153 153 155
Outlays, gross:
4010 Outlays (gross), detail 141 141 143
4011 Outlays from discretionary balances 16 14 12



4020 Outlays, gross (total) 157 155 155
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –2 –1 –1
Additional offsets against gross budget authority only:
4052 Offsetting collections credited to expired accounts 1



4070 Budget authority, net (discretionary) 152 152 154
4080 Outlays, net (discretionary) 155 154 154
4180 Budget authority, net (total) 152 152 154
4190 Outlays, net (total) 155 154 154

The Treasury Inspector General for Tax Administration (TIGTA) conducts independent audits, investigations, and inspections and evaluations 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 2013 , TIGTA will continue to monitor the IRS's implementation of American Recovery and Reinvestment Act of 2009 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 2013, 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 principal 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 2013, 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 remaining 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 its efforts to eliminate identified material weaknesses. Audits will address areas of concern to Congress, Secretary of the Treasury, the IRS Oversight Board and the IRS Commissioner. TIGTA's 2011 highlights include issuing 132 audit reports, and identifying more than $16.9 billion in potential financial benefits.

In 2013, 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 2011 actual 2012 est. 2013 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 85 82 83
11.5 Other personnel compensation 10 9 9



11.9 Total personnel compensation 95 91 92
12.1 Civilian personnel benefits 28 30 31
21.0 Travel and transportation of persons 5 4 4
23.1 Rental payments to GSA 9 9 9
23.3 Communications, utilities, and miscellaneous charges 3 2 2
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 4 4



99.0 Direct obligations 154 151 153
99.0 Reimbursable obligations 1 1 1



99.9 Total new obligations 155 152 154

Employment Summary


Identification code 20–0119–0–1–803 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 822 835 864
2001 Reimbursable civilian full-time equivalent employment 1 2 2

Expanded Access to Financial Services

Program and Financing (in millions of dollars)


Identification code 20–0121–0–1–808 2011 actual 2012 est. 2013 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
1930 Total budgetary resources available 1

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

Budget authority and outlays, net:
Discretionary:
Outlays, gross:
4011 Outlays from discretionary balances 1
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 2011 actual 2012 est. 2013 est.

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



3100 Obligated balance, end of year (net) 1

Budget authority and outlays, net:
Discretionary:
Outlays, gross:
4011 Outlays from discretionary balances 1
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 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Base Administrative Expenses 2 3 3
0003 Projected Payments to Insurers 102 242



0900 Total new obligations 2 105 245

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 2 105 245



1260 Appropriations, mandatory (total) 2 105 245
1900 Budget authority (total) 2 105 245
1930 Total budgetary resources available 2 105 245

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 2 2 2
3030 Obligations incurred, unexpired accounts 2 105 245
3040 Outlays (gross) –2 –105 –245
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 2 2 2



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

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 2 105 245
Outlays, gross:
4100 Outlays from new mandatory authority 2 105 245
4180 Budget authority, net (total) 2 105 245
4190 Outlays, net (total) 2 105 245

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) and administered by the Treasury Department. 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. While the Budget does not forecast any specific act of terrorism, on a probabilistic basis and using market- driven data, the Budget projects annual outlays and recoupment for TRIA. On this basis, the Budget baseline projects net spending of $584 million over the 2013–2017 period and $780 million over the 2013–2022 period.

Object Classification (in millions of dollars)


Identification code 20–0123–0–1–376 2011 actual 2012 est. 2013 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 1 1 1
25.1 Advisory and assistance services 1
25.2 Other services from non-Federal sources 2 2
42.0 Projected Insurance claims and indemnities 102 242



99.9 Total new obligations 2 105 245

Employment Summary


Identification code 20–0123–0–1–376 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 7 10 10

Treasury Forfeiture Fund

([rescission] cancellation )

Of the unobligated balances available under this heading, [$950,000,000] $830,000,000 are [rescinded] hereby permanently cancelled.

(Department of the Treasury Appropriations Act, 2012.)

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5697–0–2–751 2011 actual 2012 est. 2013 est.

0100 Balance, start of year 90 423 1,521
Receipts:
0200 Forfeited Cash and Proceeds from Sale of Forfeited Property, Treasury Forfeiture Fund 930 1,133 374
0240 Earnings on Investments, Treasury Forfeiture Fund 1 1 1



0299 Total receipts and collections 931 1,134 375



0400 Total: Balances and collections 1,021 1,557 1,896
Appropriations:
0500 Treasury Forfeiture Fund –1,021 –563 –583
0501 Treasury Forfeiture Fund –423 –950
0502 Treasury Forfeiture Fund 423 950



0599 Total appropriations –598 –36 –1,533



0799 Balance, end of year 423 1,521 363

Program and Financing (in millions of dollars)


Identification code 20–5697–0–2–751 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Asset forfeiture fund 590 578 707

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 581 646 104
1021 Recoveries of prior year unpaid obligations 57



1050 Unobligated balance (total) 638 646 104
Budget authority:
Appropriations, discretionary:
1130 Appropriations permanently reduced –830



1160 Appropriation, discretionary (total) –830
Appropriations, mandatory:
1201 Appropriation (special or trust fund) 1,021 563 583
1203 Appropriation (previously unavailable) 423 950
1232 Appropriations and/or unobligated balance of appropriations temporarily reduced –423 –950



1260 Appropriations, mandatory (total) 598 36 1,533
1900 Budget authority (total) 598 36 703
1930 Total budgetary resources available 1,236 682 807
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 646 104 100

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 746 539 855
3030 Obligations incurred, unexpired accounts 590 578 707
3040 Outlays (gross) –740 –262 –555
3080 Recoveries of prior year unpaid obligations, unexpired –57
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 539 855 1,007



3100 Obligated balance, end of year (net) 539 855 1,007

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross –830
Mandatory:
4090 Budget authority, gross 598 36 1,533
Outlays, gross:
4100 Outlays from new mandatory authority 5 9 383
4101 Outlays from mandatory balances 735 253 172



4110 Outlays, gross (total) 740 262 555
4180 Budget authority, net (total) 598 36 703
4190 Outlays, net (total) 740 262 555

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 1,383 1,585 1,107
5001 Total investments, EOY: Federal securities: Par value 1,585 1,107 732

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. Revenue can also be used to fund Federal law enforcement related activities based on requests from Federal agencies and evaluation by the Secretary of the Treasury. The Budget proposes to permanently cancel $830 million of unobligated balances.

Object Classification (in millions of dollars)


Identification code 20–5697–0–2–751 2011 actual 2012 est. 2013 est.

Direct obligations:
25.2 Other services from non-Federal sources 157 187 187
25.3 Other goods and services from Federal sources 226 175 280
41.0 Grants, subsidies, and contributions 207 216 240



99.9 Total new obligations 590 578 707

Financial Research Fund

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5590–0–2–376 2011 actual 2012 est. 2013 est.

0100 Balance, start of year 211
Receipts:
0200 Fees and Assessments, Financial Research Fund 119 168
0201 Transfer from the Federal Reserve, Financial Research Fund 21 92



0299 Total receipts and collections 21 211 168



0400 Total: Balances and collections 21 211 379
Appropriations:
0500 Financial Research Fund –21



0799 Balance, end of year 211 379

Program and Financing (in millions of dollars)


Identification code 20–5590–0–2–376 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0002 FSOC 3 8 9
0003 FDIC Payments 5 11



0091 FSOC subtotal 3 13 20
0101 OFR 11 110 138



0900 Total new obligations 14 123 158

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 7 7
Budget authority:
Appropriations, mandatory:
1200 Appropriation 123 158
1201 Appropriation (special or trust fund) 21



1260 Appropriations, mandatory (total) 21 123 158
1900 Budget authority (total) 21 123 158
1930 Total budgetary resources available 21 130 165
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 7 7 7

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 10 13
3030 Obligations incurred, unexpired accounts 14 123 158
3040 Outlays (gross) –4 –120 –154
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 10 13 17



3100 Obligated balance, end of year (net) 10 13 17

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 21 123 158
Outlays, gross:
4100 Outlays from new mandatory authority 4 111 142
4101 Outlays from mandatory balances 9 12



4110 Outlays, gross (total) 4 120 154
4180 Budget authority, net (total) 21 123 158
4190 Outlays, net (total) 4 120 154

The Office of Financial Research (OFR) and the Financial Stability Oversight Council (Council) were established under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Act) (P.L. 111–203).

OFR was established to serve the Council, its member agencies, and the public by improving the quality, transparency, and accessibility of financial data and information, by conducting and sponsoring research related to financial stability, and by promoting best practices in risk management. OFR is an office within the Department of the Treasury.

The Council is an executive agency, 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 the Council. The Council'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.

As required under Section 210(n)(10) of the Act, the Council's expenses also include payments to reimburse the Federal Deposit Insurance Corporation (FDIC) for certain reasonable implementation expenses of its Orderly Liquidation Fund incurred after the date of enactment of the Act. These expenses are to be treated as expenses of the Council, and are estimated at $11 million in 2013.

Through July 21, 2012, OFR and the Council are funded through transfers from the Board of Governors of the Federal Reserve System. Thereafter, OFR and the Council will be funded through assessments on bank holding companies with total consolidated assets of $50 billion or more and non-bank financial companies supervised by the Board of Governors. Administrative expenses of the Council 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 Act and which is managed by the Department of the Treasury. Projected fees and assessments are estimates and may change.

Object Classification (in millions of dollars)


Identification code 20–5590–0–2–376 2011 actual 2012 est. 2013 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 1 21 39
12.1 Civilian personnel benefits 7 12
21.0 Travel and transportation of persons 1 1
23.1 Rental payments to GSA 6 6
23.3 Communications, utilities, and miscellaneous charges 1
25.1 Advisory and assistance services 10 11 12
25.2 Other services from non-Federal sources 5 5
25.3 Other goods and services from Federal sources 42 48
25.7 Operation and maintenance of equipment 3 3
26.0 Supplies and materials 5 10
31.0 Equipment 2 22 22



99.9 Total new obligations 14 123 158

Employment Summary


Identification code 20–5590–0–2–376 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 12 153 282
2001 Reimbursable civilian full-time equivalent employment 7 26 30

Presidential Election Campaign Fund

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5081–0–2–808 2011 actual 2012 est. 2013 est.

0100 Balance, start of year 13
Receipts:
0200 Presidential Election Campaign Fund 40 50 50



0400 Total: Balances and collections 40 50 63
Appropriations:
0500 Presidential Election Campaign Fund –40 –37 –34



0799 Balance, end of year 13 29

Program and Financing (in millions of dollars)


Identification code 20–5081–0–2–808 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0003 Nominating Conventions - Major Party 35 1
0004 Presidential Primary Matching Fund Candidates 22 1
0005 General Election Candidates - Major Party 183



0900 Total new obligations (object class 41.0) 35 206 1

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 193 198 29
Budget authority:
Appropriations, mandatory:
1201 Appropriation (special or trust fund) 40 37 34



1260 Appropriations, mandatory (total) 40 37 34
1930 Total budgetary resources available 233 235 63
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 198 29 62

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 35 206 1
3040 Outlays (gross) –35 –206 –1

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 40 37 34
Outlays, gross:
4100 Outlays from new mandatory authority 8
4101 Outlays from mandatory balances 35 198 1



4110 Outlays, gross (total) 35 206 1
4180 Budget authority, net (total) 40 37 34
4190 Outlays, net (total) 35 206 1

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 $40 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 demonstrating 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 2011, the Republican and Democratic parties each received $17.6 million for their nominating conventions. An additional amount will be paid to each party in 2012 to reflect the fully adjusted grant for 2012.
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 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Direct program activity 199



0900 Total new obligations (object class 25.2) 199

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 43,602 44,641 44,933
1026 Adjustment for change in allocation of trust fund limitation or foreign exchange valuation 966



1050 Unobligated balance (total) 44,568 44,641 44,933
Budget authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 272 292 296



1850 Spending auth from offsetting collections, mand (total) 272 292 296
1930 Total budgetary resources available 44,840 44,933 45,229
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 44,641 44,933 45,229

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 60,186 60,385 60,385
3030 Obligations incurred, unexpired accounts 199
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 60,385 60,385 60,385



3100 Obligated balance, end of year (net) 60,385 60,385 60,385

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 272 292 296
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4121 Interest on Federal securities –14 –23 –23
4123 Non-Federal sources –258 –269 –273



4130 Offsets against gross budget authority and outlays (total) –272 –292 –296
4170 Outlays, net (mandatory) –272 –292 –296
4190 Outlays, net (total) –272 –292 –296

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 20,436 22,721 24,304
5001 Total investments, EOY: Federal securities: Par value 22,721 24,304 24,304
5010 Total investments, SOY: non-Fed securities: Market value 25,941 26,429 30,234
5011 Total investments, EOY: non-Fed securities: Market value 26,429 30,234 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 2012 and 2013 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 2010 actual 2011 actual

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


1999 Total assets 103,930 103,930
LIABILITIES:
2207 Non-Federal liabilities: Other 60,186 60,186
NET POSITION:
3100 Appropriated capital 200 200
3300 Cumulative results of operations 43,544 43,544


3999 Total net position 43,744 43,744


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

Working Capital Fund

Program and Financing (in millions of dollars)


Identification code 20–4501–0–4–803 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0810 Working capital fund 161 160 149
0811 Administrative overhead 7 7



0900 Total new obligations 161 167 156

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 25 44 58
1021 Recoveries of prior year unpaid obligations 14 14 14



1050 Unobligated balance (total) 39 58 72
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 164 167 156
1701 Change in uncollected payments, Federal sources 2



1750 Spending auth from offsetting collections, disc (total) 166 167 156
1930 Total budgetary resources available 205 225 228
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 44 58 72

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 97 96 55
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –4 –6 –6



3020 Obligated balance, start of year (net) 93 90 49
3030 Obligations incurred, unexpired accounts 161 167 156
3040 Outlays (gross) –148 –194 –176
3050 Change in uncollected pymts, Fed sources, unexpired –2
3080 Recoveries of prior year unpaid obligations, unexpired –14 –14 –14
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 96 55 21
3091 Uncollected pymts, Fed sources, end of year –6 –6 –6



3100 Obligated balance, end of year (net) 90 49 15

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 166 167 156
Outlays, gross:
4010 Outlays from new discretionary authority 30 159 148
4011 Outlays from discretionary balances 118 35 28



4020 Outlays, gross (total) 148 194 176
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –164 –167 –156
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –2
4080 Outlays, net (discretionary) –16 27 20
4190 Outlays, net (total) –16 27 20

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 2011 actual 2012 est. 2013 est.

Reimbursable obligations:
11.1 Personnel compensation: Full-time permanent 21 27 27
12.1 Civilian personnel benefits 5 6 6
23.1 Rental payments to GSA 4 4 4
23.3 Communications, utilities, and miscellaneous charges 1 1 1
25.1 Advisory and assistance services 14
25.2 Other services from non-Federal sources 34 59 55
25.3 Other goods and services from Federal sources 79 66 59
25.7 Operation and maintenance of equipment 2 2 2
31.0 Equipment 1 2 2



99.9 Total new obligations 161 167 156

Employment Summary


Identification code 20–4501–0–4–803 2011 actual 2012 est. 2013 est.

2001 Reimbursable civilian full-time equivalent employment 185 246 244

Treasury Franchise Fund

Program and Financing (in millions of dollars)


Identification code 20–4560–0–4–803 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0802 Financial Management Administrative Support Service 109 111 122
0804 Information Technology Services 73 144 130



0900 Total new obligations 182 255 252

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 72 72 74
1021 Recoveries of prior year unpaid obligations 3 7 10



1050 Unobligated balance (total) 75 79 84
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 173 250 252
1701 Change in uncollected payments, Federal sources 6



1750 Spending auth from offsetting collections, disc (total) 179 250 252
1930 Total budgetary resources available 254 329 336
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 72 74 84

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 30 42 35
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –13 –19 –19



3020 Obligated balance, start of year (net) 17 23 16
3030 Obligations incurred, unexpired accounts 182 255 252
3040 Outlays (gross) –167 –255 –252
3050 Change in uncollected pymts, Fed sources, unexpired –6
3080 Recoveries of prior year unpaid obligations, unexpired –3 –7 –10
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 42 35 25
3091 Uncollected pymts, Fed sources, end of year –19 –19 –19



3100 Obligated balance, end of year (net) 23 16 6

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 179 250 252
Outlays, gross:
4010 Outlays from new discretionary authority 145 159 160
4011 Outlays from discretionary balances 22 96 92



4020 Outlays, gross (total) 167 255 252
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –173 –250 –252
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –6
4080 Outlays, net (discretionary) –6 5
4190 Outlays, net (total) –6 5

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 Fiscal Service, 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 and Information Systems Security Lines of Business . In addition, ARC has critical supporting roles in the Human Resources and Public Key Infrastructure Shared Service Provider designations of the Department of the Treasury.

Object Classification (in millions of dollars)


Identification code 20–4560–0–4–803 2011 actual 2012 est. 2013 est.

Reimbursable obligations:
Personnel compensation:
11.1 Full-time permanent 70 91 93
11.3 Other than full-time permanent 1
11.5 Other personnel compensation 3 4 4



11.9 Total personnel compensation 74 95 97
12.1 Civilian personnel benefits 23 27 28
21.0 Travel and transportation of persons 1 2 2
23.3 Communications, utilities, and miscellaneous charges 2 8 8
25.1 Advisory and assistance services 12 3 7
25.2 Other services from non-Federal sources 5 43 36
25.3 Other goods and services from Federal sources 27 46 46
25.7 Operation and maintenance of equipment 21 19 17
26.0 Supplies and materials 1 1 1
31.0 Equipment 16 11 10



99.9 Total new obligations 182 255 252

Employment Summary


Identification code 20–4560–0–4–803 2011 actual 2012 est. 2013 est.

2001 Reimbursable civilian full-time equivalent employment 1,026 1,237 1,256

Administrative Expenses, Recovery Act

Program and Financing (in millions of dollars)


Identification code 20–0129–0–1–803 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Internal Revenue Service 9
0003 Treasury, Departmental Office 2



0900 Total new obligations 11

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 10
1021 Recoveries of prior year unpaid obligations 1



1050 Unobligated balance (total) 11
1930 Total budgetary resources available 11

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 2 2
3030 Obligations incurred, unexpired accounts 11
3040 Outlays (gross) –10 –2
3080 Recoveries of prior year unpaid obligations, unexpired –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 2



3100 Obligated balance, end of year (net) 2

Budget authority and outlays, net:
Discretionary:
Outlays, gross:
4011 Outlays from discretionary balances 10 2
4190 Outlays, net (total) 10 2

The funding appropriated to this account supports the implementation and administration of a number of American Recovery and Reinvestment 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 2011 actual 2012 est. 2013 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 4
12.1 Civilian personnel benefits 1
23.3 Communications, utilities, and miscellaneous charges 3
25.3 Other goods and services from Federal sources 2
31.0 Equipment 1



99.9 Total new obligations 11

Employment Summary


Identification code 20–0129–0–1–803 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 81

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 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Direct Program Activity 3,823 4,653 3,671



0900 Total new obligations (object class 41.0) 3,823 4,653 3,671

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



1050 Unobligated balance (total) 1 1 1
Budget authority:
Appropriations, mandatory:
1200 Appropriation 3,823 4,653 3,671



1260 Appropriations, mandatory (total) 3,823 4,653 3,671
1930 Total budgetary resources available 3,824 4,654 3,672
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1 1 1

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 83 1 1
3030 Obligations incurred, unexpired accounts 3,823 4,653 3,671
3040 Outlays (gross) –3,904 –4,653 –3,671
3080 Recoveries of prior year unpaid obligations, unexpired –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 1 1 1



3100 Obligated balance, end of year (net) 1 1 1

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 3,823 4,653 3,671
Outlays, gross:
4100 Outlays from new mandatory authority 4,653 3,671
4101 Outlays from mandatory balances 3,904



4110 Outlays, gross (total) 3,904 4,653 3,671
4180 Budget authority, net (total) 3,823 4,653 3,671
4190 Outlays, net (total) 3,904 4,653 3,671

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


2011 actual 2012 est. 2013 est.

Enacted/requested:
Budget Authority 3,823 4,653 3,671
Outlays 3,904 4,653 3,671
Legislative proposal, subject to PAYGO:
Budget Authority 1,147 –1,966
Outlays 1,147 –1,966
Total:
Budget Authority 3,823 5,800 1,705
Outlays 3,904 5,800 1,705

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 2011 actual 2012 est. 2013 est.

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1,147
Budget authority:
Appropriations, mandatory:
1200 Appropriation 1,147 –1,966



1260 Appropriations, mandatory (total) 1,147 –1,966
1930 Total budgetary resources available 1,147 –819
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1,147 –819

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) –1,147
3040 Outlays (gross) –1,147 1,966
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) –1,147 819



3100 Obligated balance, end of year (net) –1,147 819

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 1,147 –1,966
Outlays, gross:
4100 Outlays from new mandatory authority 1,147 –1,966
4180 Budget authority, net (total) 1,147 –1,966
4190 Outlays, net (total) 1,147 –1,966

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 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Direct Program Activity 160



0900 Total new obligations (object class 41.0) 160

Budgetary Resources:
Unobligated balance:
1021 Recoveries of prior year unpaid obligations 24



1050 Unobligated balance (total) 24
Budget authority:
Appropriations, mandatory:
1200 Appropriation 136



1260 Appropriations, mandatory (total) 136
1930 Total budgetary resources available 160

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 3,551 635
3030 Obligations incurred, unexpired accounts 160
3040 Outlays (gross) –3,052 –635
3080 Recoveries of prior year unpaid obligations, unexpired –24
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 635



3100 Obligated balance, end of year (net) 635

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 136
Outlays, gross:
4101 Outlays from mandatory balances 3,052 635
4180 Budget authority, net (total) 136
4190 Outlays, net (total) 3,052 635

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, notwithstanding section 4707(e) of title 12, United States Code with regard to Small and/or Emerging Community Development Financial Institutions Assistance awards] EX-3, $221,000,000, to remain available until September 30, [2013] 2014; of which $12,000,000[, notwithstanding section 4707(e) of title 12, United States Code,] shall be for financial assistance, technical assistance, training and outreach programs, designed to benefit Native American, Native Hawaiian, and Alaskan Native communities and provided primarily through qualified community development lender organizations with experience and expertise in community development banking and lending in Indian country, Native American organizations, tribes and tribal organizations and other suitable providers; of which, notwithstanding section 108(d) of such Act, up to [$22,000,000] $25,000,000 shall be for a Healthy Food Financing Initiative to provide [grants and loans] financial assistance, technical assistance, training, and outreach 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 [$18,000,000] $15,000,000 shall be for the Bank Enterprise Awards program; of which up to $20,000,000 shall be to implement section 1204 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111–203); and of which up to [$22,965,000] $21,047,000 may be used for administrative expenses, including administration of the New Markets Tax Credit Program, up to $550,000 for the CDFI Bond Guarantee Program, and up to $300,000 for the direct loan program; of which up to [$10,315,000] $8,337,500 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 and guaranteed 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: Provided further, That [of the funds awarded under this heading, not less than 10 percent shall be used for projects that serve populations living in persistent poverty counties (where such term is defined as any county that has had 20 percent or more of its population living in poverty over the past 30 years, as measured by the 1990, 2000, and 2010 decennial censuses)] amounts provided under this heading shall be available for the cost of guarantees pursuant to and as authorized by section 114A of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4701 et seq.): Provided further, That funds for the cost of guarantees are available to subsidize total loan principal not to exceed $1,000,000,000: Provided further, That, pursuant to such section 114A, up to $1,000,000 collected from administration fees may be used for administrative expenses of the CDFI Bond Guarantee Program, and shall be in addition to funds otherwise provided for administrative expenses of the CDFI Bond Guarantee Program. (Department of the Treasury Appropriations Act, 2012.)

Program and Financing (in millions of dollars)


Identification code 20–1881–0–1–451 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0009 General Administrative Expenses 18 23 21
0012 Financial Assistance 168 146 128
0014 Native American/Hawaiian Program 12 12 12
0020 Financial Education and Counseling 1
0022 Bank on USA 20
0024 Financial Education and Counseling (Hawaii) 4
0026 Healthy Food Initiative 22 25
0028 Bank Enterprise Award 18 15



0091 Direct program activities, subtotal 203 221 221
Credit program obligations:
0701 Direct loan subsidy 4 8
0705 Reestimates of direct loan subsidy 3 1
0706 Interest on reestimates of direct loan subsidy 1 1



0791 Direct program activities, subtotal 4 6 8



0900 Total new obligations 207 227 229

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 28 54 52
1021 Recoveries of prior year unpaid obligations 1 1 1



1050 Unobligated balance (total) 29 55 53
Budget authority:
Appropriations, discretionary:
1100 Appropriation 227 221 221



1160 Appropriation, discretionary (total) 227 221 221
Appropriations, mandatory:
1200 Appropriation 4 2



1260 Appropriations, mandatory (total) 4 2
Spending authority from offsetting collections, discretionary:
1700 Collected 1 1 1



1750 Spending auth from offsetting collections, disc (total) 1 1 1
1900 Budget authority (total) 232 224 222
1930 Total budgetary resources available 261 279 275
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 54 52 46

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 92 130 29
3030 Obligations incurred, unexpired accounts 207 227 229
3040 Outlays (gross) –168 –327 –211
3080 Recoveries of prior year unpaid obligations, unexpired –1 –1 –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 130 29 46



3100 Obligated balance, end of year (net) 130 29 46

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 228 222 222
Outlays, gross:
4010 Outlays from new discretionary authority 75 178 138
4011 Outlays from discretionary balances 93 148 72



4020 Outlays, gross (total) 168 326 210
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4033 Non-Federal sources –1 –1
Mandatory:
4090 Budget authority, gross 4 2
Outlays, gross:
4100 Outlays from new mandatory authority 1
4101 Outlays from mandatory balances 1



4110 Outlays, gross (total) 1 1
4180 Budget authority, net (total) 232 223 221
4190 Outlays, net (total) 168 326 210

Memorandum (non-add) entries:
5010 Total investments, SOY: non-Fed securities: Market value 22 21 25
5011 Total investments, EOY: non-Fed securities: Market value 21 25 25

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


Identification code 20–1881–0–1–451 2011 actual 2012 est. 2013 est.

Direct loan levels supportable by subsidy budget authority:
115001 Community Development Financial Institutions Prog Fin Assist. 10 25
115002 Bond Guarantee Program 1,000



115999 Total direct loan levels 10 1,025
Direct loan subsidy (in percent):
132001 Community Development Financial Institutions Prog Fin Assist. 0.00 40.26 32.15
132002 Bond Guarantee Program 0.00 0.00 0.00



132999 Weighted average subsidy rate 0.00 40.26 0.78
Direct loan subsidy budget authority:
133001 Community Development Financial Institutions Prog Fin Assist. 4 8



133999 Total subsidy budget authority 4 8
Direct loan subsidy outlays:
134001 Community Development Financial Institutions Prog Fin Assist. 4 4



134999 Total subsidy outlays 4 4
Direct loan upward reestimates:
135001 Community Development Financial Institutions Prog Fin Assist. 4 1



135999 Total upward reestimate budget authority 4 1
Direct loan downward reestimates:
137001 Community Development Financial Institutions Prog Fin Assist. –2 –4



137999 Total downward reestimate budget authority –2 –4

The Community Development Financial Institutions (CDFI) Fund promotes economic and community development through investment in and assistance to CDFIs, which include 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 2013 Budget provides funding for the CDFI Fund's merit-based financial and technical assistance programs, including the Healthy Food Financing Initiative (HFFI), which provides financial and technical assistance 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 will promote access to affordable and appropriate financial services and basic consumer credit products for households without access to such products and services. In addition, the Budget proposes to reauthorize the NMTC Program in 2013, and requests $7 billion of allocation authority, as well as authority to offset Alternative Minimum Tax liability. The 2013 NMTC allocation request will expand the availability of affordable financing for businesses and real estate projects in low-income communities, including renewable energy projects, charter schools, health care centers, manufacturing facilities, and retail centers. The allocation request also supports qualified equity investments in communities affected by military base closures or mass layoffs, such as those arising from plant closures. Of the $7 billion requested for the NMTC Program in 2013, the CDFI Fund anticipates allocating $250 million to support financing healthy food options in distressed communities as part of HFFI.

The Small Business Jobs Act of 2010 (Public Law 111–240) created the CDFI Bond Guarantee Program. These guarantees will support CDFI lending and investment activity by providing a source of long-term, patient capital in underserved communities. The CDFI Fund forecasts $1 billion in bonds for FY 2013 upon full completion of program development, including promulgation of the program implementing regulations.

Object Classification (in millions of dollars)


Identification code 20–1881–0–1–451 2011 actual 2012 est. 2013 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 7 7 7
12.1 Civilian personnel benefits 2 3 3
23.1 Rental payments to GSA 2 2 1
23.3 Communications, utilities, and miscellaneous charges 1 1
25.1 Advisory and assistance services 5 7 6
25.2 Other services from non-Federal sources 1 6 1
25.3 Other goods and services from Federal sources 3 2 2
25.5 Research and development contracts 1 1
41.0 Grants, subsidies, and contributions 187 198 207



99.9 Total new obligations 207 227 229

Employment Summary


Identification code 20–1881–0–1–451 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 65 79 79

Community Development Financial Institutions Fund Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4088–0–3–451 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 10 1,025
0713 Payment of interest to Treasury 2 2 1
0742 Downward reestimate paid to receipt account 1 2
0743 Interest on downward reestimates 1 1



0900 Total new obligations 4 15 1,026

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 2 11 1,023



1440 Borrowing authority, mandatory (total) 2 11 1,023
Spending authority from offsetting collections, mandatory:
1800 Collected 9 12 12
1825 Spending authority from offsetting collections applied to repay debt –8 –8 –6



1850 Spending auth from offsetting collections, mand (total) 1 4 6
1900 Financing authority(total) 3 15 1,029
1930 Total budgetary resources available 4 15 1,029
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 3

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 4 15 1,026
3040 Financing disbursements (gross) –4 –15 –353
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 673



3100 Obligated balance, end of year (net) 673

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 3 15 1,029
Financing disbursements:
4110 Financing disbursements, gross 4 15 353
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –5 –4 –4
4123 Non-Federal sources - Interest repayments –4 –1 –1
4123 Non-Federal sources - Principal Repayments –7 –7



4130 Offsets against gross financing auth and disbursements (total) –9 –12 –12



4160 Financing authority, net (mandatory) –6 3 1,017
4170 Financing disbursements, net (mandatory) –5 3 341
4180 Financing authority, net (total) –6 3 1,017
4190 Financing disbursements, net (total) –5 3 341

Status of Direct Loans (in millions of dollars)


Identification code 20–4088–0–3–451 2011 actual 2012 est. 2013 est.

Position with respect to appropriations act limitation on obligations:
1111 Limitation on direct loans 25 1,025
1142 Unobligated direct loan limitation (-) –15



1150 Total direct loan obligations 10 1,025

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 56 52 54
1231 Disbursements: Direct loan disbursements 10 8
1251 Repayments: Repayments and prepayments –4 –7 –4
1263 Write-offs for default: Direct loans –1 –1



1290 Outstanding, end of year 52 54 57

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 2010 actual 2011 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 56 52
1405 Allowance for subsidy cost (-) –15 –16


1499 Net present value of assets related to direct loans 41 36


1999 Total assets 42 36
LIABILITIES:
2103 Federal liabilities: Debt 42 36


4999 Total liabilities and net position 42 36

Office of Financial Stability

Program and Financing (in millions of dollars)


Identification code 20–0128–0–1–376 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Direct program activity 324 303 263
0810 Reimbursable program (Congressional Oversight Panel) 5
0811 Reimbursable program (to GAO) 6 4 4
0812 Reimbursable program (to Treasury and Non-Treasury agencies) 21 18 15



0899 Total reimbursable obligations 32 22 19



0900 Total new obligations 356 325 282

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 391 325 282



1260 Appropriations, mandatory (total) 391 325 282
1930 Total budgetary resources available 391 325 282
Memorandum (non-add) entries:
1940 Unobligated balance expiring –35

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 230 197 65
3030 Obligations incurred, unexpired accounts 356 325 282
3031 Obligations incurred, expired accounts 2
3040 Outlays (gross) –352 –457 –291
3081 Recoveries of prior year unpaid obligations, expired –39
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 197 65 56



3100 Obligated balance, end of year (net) 197 65 56

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 391 325 282
Outlays, gross:
4100 Outlays from new mandatory authority 196 260 226
4101 Outlays from mandatory balances 156 197 65



4110 Outlays, gross (total) 352 457 291
4180 Budget authority, net (total) 391 325 282
4190 Outlays, net (total) 352 457 291

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, which oversees and manages the TARP.

Object Classification (in millions of dollars)


Identification code 20–0128–0–1–376 2011 actual 2012 est. 2013 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 24 25 21
12.1 Civilian personnel benefits 6 6 5
21.0 Travel and transportation of persons 1 1 1
25.2 Other services from non-Federal sources 293 271 237



99.0 Direct obligations 324 303 264
99.0 Reimbursable obligations 32 22 18



99.9 Total new obligations 356 325 282

Employment Summary


Identification code 20–0128–0–1–376 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 209 207 165

Troubled Asset Relief Program Account

Program and Financing (in millions of dollars)


Identification code 20–0132–0–1–376 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0705 Reestimates of direct loan subsidy 1,487 4,890
0706 Interest on reestimates of direct loan subsidy 69 2,932
0707 Reestimates of loan guarantee subsidy 28
0708 Interest on reestimates of loan guarantee subsidy 8



0900 Total new obligations (object class 41.0) 1,556 7,858

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 1,556 7,858



1260 Appropriations, mandatory (total) 1,556 7,858
1930 Total budgetary resources available 1,556 7,858

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 1,148 134 134
3030 Obligations incurred, unexpired accounts 1,556 7,858
3040 Outlays (gross) –1,557 –7,858
3081 Recoveries of prior year unpaid obligations, expired –1,013
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 134 134 134



3100 Obligated balance, end of year (net) 134 134 134

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 1,556 7,858
Outlays, gross:
4100 Outlays from new mandatory authority 1,556 7,858
4101 Outlays from mandatory balances 1



4110 Outlays, gross (total) 1,557 7,858
4180 Budget authority, net (total) 1,556 7,858
4190 Outlays, net (total) 1,557 7,858

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


Identification code 20–0132–0–1–376 2011 actual 2012 est. 2013 est.

Direct loan subsidy outlays:
134003 Small Business Lending Initiative—7(a) purchases 1
134004 Legacy Securities Public-Private Investment Program –257 –256 –45



134999 Total subsidy outlays –256 –256 –45
Direct loan upward reestimates:
135001 Automotive Industry Financing Program 7,590
135002 Term-Asset Backed Securities Loan Facility (TALF) 6
135004 Legacy Securities Public-Private Investment Program 1,550 232



135999 Total upward reestimate budget authority 1,556 7,822
Direct loan downward reestimates:
137001 Automotive Industry Financing Program –7,512 –1,433
137002 Term-Asset Backed Securities Loan Facility (TALF) –131
137003 Small Business Lending Initiative—7(a) purchases –1 –4
137004 Legacy Securities Public-Private Investment Program –70



137999 Total downward reestimate budget authority –7,513 –1,638
Guaranteed loan upward reestimates:
235001 Asset Guarantee Program 36



235999 Total upward reestimate budget authority 36
Guaranteed loan downward reestimates:
237001 Asset Guarantee Program –695



237999 Total downward reestimate subsidy budget authority –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.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111–203), 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 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 1,236 4,013 1,612
0742 Downward reestimate paid to receipt account 5,682 1,556
0743 Interest on downward reestimates 1,830 83



0900 Total new obligations 8,748 5,652 1,612

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 7,680
1021 Recoveries of prior year unpaid obligations 2,664
1023 Unobligated balances applied to repay debt –7,680
1024 Unobligated balance of borrowing authority withdrawn –1,348



1050 Unobligated balance (total) 1,316
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 2,564 2,086 63



1440 Borrowing authority, mandatory (total) 2,564 2,086 63
Spending authority from offsetting collections, mandatory:
1800 Offsetting collections 25,734 16,543 10,286
1801 Change in uncollected payments, Federal sources –1,014
1825 Spending authority from offsetting collections applied to repay debt –12,172 –12,977 –8,737



1850 Spending auth from offsetting collections, mand (total) 12,548 3,566 1,549
1900 Financing authority(total) 15,112 5,652 1,612
1930 Total budgetary resources available 16,428 5,652 1,612
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 7,680

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 17,070 11,655 9,043
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –1,148 –134 –134



3020 Obligated balance, start of year (net) 15,922 11,521 8,909
3030 Obligations incurred, unexpired accounts 8,748 5,652 1,612
3040 Financing disbursements (gross) –11,499 –8,264 –2,076
3050 Change in uncollected pymts, Fed sources, unexpired 1,014
3080 Recoveries of prior year unpaid obligations, unexpired –2,664
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 11,655 9,043 8,579
3091 Uncollected pymts, Fed sources, end of year –134 –134 –134



3100 Obligated balance, end of year (net) 11,521 8,909 8,445

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 15,112 5,652 1,612
Financing disbursements:
4110 Financing disbursements, gross 11,499 8,264 2,076
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –1,557 –7,822
4122 Interest on uninvested funds –372 –1,789 –588
4123 Principal –6,291 –1,482 –1,346
4123 Interest –918 –165 –251
4123 Warrants –434 –5,285 –8,101
4123 Sale of Stock –16,162



4130 Offsets against gross financing auth and disbursements (total) –25,734 –16,543 –10,286
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 1,014



4160 Financing authority, net (mandatory) –9,608 –10,891 –8,674
4170 Financing disbursements, net (mandatory) –14,235 –8,279 –8,210
4180 Financing authority, net (total) –9,608 –10,891 –8,674
4190 Financing disbursements, net (total) –14,235 –8,279 –8,210

Status of Direct Loans (in millions of dollars)


Identification code 20–4277–0–3–376 2011 actual 2012 est. 2013 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 15,680 11,538 12,412
1231 Disbursements: Direct loan disbursements 2,495 2,356 419
1251 Repayments: Repayments and prepayments –6,291 –1,482 –1,345
1264 Write-offs for default: Other adjustments, net (+ or -) –346



1290 Outstanding, end of year 11,538 12,412 11,486

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 2010 actual 2011 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 5,732 10,759
Investments in US securities:
1106 Receivables, net 1,217 8,043
Non-Federal assets:
1201 Investments in non-Federal securities, net 42,444 22,653
1201 Investments in non-Federal securities, net 2,098
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 15,680 11,538
1405 Allowance for subsidy cost (-) –3,147 –2,964
1405 Allowance for subsidy cost (-) –8,649 –9,150


1499 Net present value of assets related to direct loans 3,884 –576


1999 Total assets 55,375 40,879
LIABILITIES:
Federal liabilities:
2104 Resources payable to Treasury 48,452 39,243
2105 Other 6,923 1,636


2999 Total liabilities 55,375 40,879


4999 Total liabilities and net position 55,375 40,879

Troubled Assets Insurance Financing Fund Guaranteed Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4276–0–3–376 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 47 72 70
0742 Downward reestimate paid to receipt account 691
0743 Interest on downward reestimates 4



0900 Total new obligations 742 72 70

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 69 60
1023 Unobligated balances applied to repay debt –60



1050 Unobligated balance (total) 69
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 60



1440 Borrowing authority, mandatory (total) 60
Spending authority from offsetting collections, mandatory:
1800 Collected 2,333 38 497
1825 Spending authority from offsetting collections applied to repay debt –1,600 –26 –427



1850 Spending auth from offsetting collections, mand (total) 733 12 70
1900 Financing authority(total) 733 72 70
1930 Total budgetary resources available 802 72 70
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 60

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 742 72 70
3040 Financing disbursements (gross) –742 –72 –70

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 733 72 70
Financing disbursements:
4110 Financing disbursements, gross 742 72 70
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –36
4122 Interest on uninvested funds –17 –2 –20
4123 Dividends –70 –425
4123 Cash from the Sale of Warrants –2,246 –52



4130 Offsets against gross financing auth and disbursements (total) –2,333 –38 –497



4160 Financing authority, net (mandatory) –1,600 34 –427
4170 Financing disbursements, net (mandatory) –1,591 34 –427
4180 Financing authority, net (total) –1,600 34 –427
4190 Financing disbursements, net (total) –1,591 34 –427

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 2010 actual 2011 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 69 60
1201 Non-Federal assets: Investments in non-Federal securities, net 3,055 773


1999 Total assets 3,124 833
LIABILITIES:
Federal liabilities:
2103 Debt 2,433 833
2105 Other 691


2999 Total liabilities 3,124 833


4999 Total liabilities and net position 3,124 833

Troubled Asset Relief Program Equity Purchase Program

Program and Financing (in millions of dollars)


Identification code 20–0134–0–1–376 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0703 Subsidy for modifications of direct loans 4
0705 Reestimates of direct loan subsidy 203 14,724
0706 Interest on reestimates of direct loan subsidy 123 3,714



0900 Total new obligations (object class 41.0) 330 18,438

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 330 18,438



1260 Appropriations, mandatory (total) 330 18,438
1930 Total budgetary resources available 330 18,438

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 22,668 362 76
3030 Obligations incurred, unexpired accounts 330 18,438
3040 Outlays (gross) –20,656 –18,675 –45
3081 Recoveries of prior year unpaid obligations, expired –1,980 –49 –31
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 362 76



3100 Obligated balance, end of year (net) 362 76

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 330 18,438
Outlays, gross:
4100 Outlays from new mandatory authority 330 18,438
4101 Outlays from mandatory balances 20,326 237 45



4110 Outlays, gross (total) 20,656 18,675 45
4180 Budget authority, net (total) 330 18,438
4190 Outlays, net (total) 20,656 18,675 45

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


Identification code 20–0134–0–1–376 2011 actual 2012 est. 2013 est.

Direct loan subsidy outlays:
134001 Capital Purchase Program –1,010
134002 AIG Investments 20,085
134004 Automotive Industry Financing Program (Equity) –174
134005 Legacy Securities Public-Private Investment Program 242 237 45



134999 Total subsidy outlays 19,143 237 45
Direct loan upward reestimates:
135001 Capital Purchase Program 34
135002 AIG Investments 14,644
135003 Targeted Investment Program 278
135004 Automotive Industry Financing Program (Equity) 3,794
135006 Community Development Capital Initiative 13



135999 Total upward reestimate budget authority 325 18,438
Direct loan downward reestimates:
137001 Capital Purchase Program –7,558 –1,055
137002 AIG Investments –38,465
137003 Targeted Investment Program –193
137004 Automotive Industry Financing Program (Equity) –3,823
137005 Legacy Securities Public-Private Investment Program –2,109 –2,375
137006 Community Development Capital Initiative –137



137999 Total downward reestimate budget authority –52,148 –3,567

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 TIP was developed to prevent a loss of confidence in critical financial institutions, which could result in significant financial market disruptions, threaten the financial strength of similarly situated financial institutions, impair broader financial markets, and undermine the overall economy. 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.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111–203), 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 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 2,546 8,053 4,550
0741 Modification savings 1,187
0742 Downward reestimate paid to receipt account 47,410 2,896
0743 Interest on downward reestimates 4,737 671



0900 Total new obligations 55,880 11,620 4,550

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 10,447 13,402
1021 Recoveries of prior year unpaid obligations 2,000 142 133
1023 Unobligated balances applied to repay debt –7,995 –13,544 –133
1024 Unobligated balance of borrowing authority withdrawn –20



1050 Unobligated balance (total) 4,432
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 33,032 2,562



1440 Borrowing authority, mandatory (total) 33,032 2,562
Spending authority from offsetting collections, mandatory:
1800 Collected 79,239 39,382 19,673
1801 Change in uncollected payments, Federal sources –22,306 –286 –76
1825 Spending authority from offsetting collections applied to repay debt –25,115 –30,038 –15,047



1850 Spending auth from offsetting collections, mand (total) 31,818 9,058 4,550
1900 Financing authority(total) 64,850 11,620 4,550
1930 Total budgetary resources available 69,282 11,620 4,550
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 13,402

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 24,848 1,503 327
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –22,668 –362 –76



3020 Obligated balance, start of year (net) 2,180 1,141 251
3030 Obligations incurred, unexpired accounts 55,880 11,620 4,550
3040 Financing disbursements (gross) –77,225 –12,654 –4,744
3050 Change in uncollected pymts, Fed sources, unexpired 22,306 286 76
3080 Recoveries of prior year unpaid obligations, unexpired –2,000 –142 –133
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 1,503 327
3091 Uncollected pymts, Fed sources, end of year –362 –76



3100 Obligated balance, end of year (net) 1,141 251

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 64,850 11,620 4,550
Financing disbursements:
4110 Financing disbursements, gross 77,225 12,654 4,744
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –20,656 –18,675 –45
4122 Interest on uninvested funds –392 –2,853 –864
4123 Dividends –2,686 –888 –700
4123 Warrants –5,197 –61 –21
4123 Redemption –50,308 –16,905 –18,043



4130 Offsets against gross financing auth and disbursements (total) –79,239 –39,382 –19,673
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 22,306 286 76



4160 Financing authority, net (mandatory) 7,917 –27,476 –15,047
4170 Financing disbursements, net (mandatory) –2,014 –26,728 –14,929
4180 Financing authority, net (total) 7,917 –27,476 –15,047
4190 Financing disbursements, net (total) –2,014 –26,728 –14,929

Status of Direct Loans (in millions of dollars)


Identification code 20–4278–0–3–376 2011 actual 2012 est. 2013 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 118,976 88,214 72,259
1231 Disbursements: Direct loan disbursements 21,345 1,033 196
1251 Repayments: Repayments and prepayments –50,308 –16,905 –18,043
Write-offs for default:
1263 Direct loans –47,628 –83
1264 Other adjustments, net (+ or -) 45,829



1290 Outstanding, end of year 88,214 72,259 54,412

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 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 2010 actual 2011 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 12,659 14,542
Investments in US securities:
1106 Receivables, net 332 19,808
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 104,079 43,416
1401 Direct loans receivable, gross 14,897 44,798
1405 Allowance for subsidy cost (-) –8,021 –9,461
1405 Allowance for subsidy cost (-) –16,929 –20,726


1499 Net present value of assets related to direct loans 94,026 58,027


1999 Total assets 107,017 92,377
LIABILITIES:
Federal liabilities:
2103 Debt 89,519 89,421
2105 Other 17,498 2,956


2999 Total liabilities 107,017 92,377


4999 Total liabilities and net position 107,017 92,377

Troubled Asset Relief Program, Housing Programs

Program and Financing (in millions of dollars)


Identification code 20–0136–0–1–604 2011 actual 2012 est. 2013 est.

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 45,082 43,122 29,503
3040 Outlays (gross) –1,935 –13,619 –12,148
3081 Recoveries of prior year unpaid obligations, expired –25
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 43,122 29,503 17,355



3100 Obligated balance, end of year (net) 43,122 29,503 17,355

Budget authority and outlays, net:
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 1,935 13,619 12,148
4190 Outlays, net (total) 1,935 13,619 12,148

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


Identification code 20–0136–0–1–604 2011 actual 2012 est. 2013 est.

Guaranteed loan levels supportable by subsidy budget authority:
215001 FHA Refi Letter of Credit 73 51,862 51,862



215999 Total loan guarantee levels 73 51,862 51,862
Guaranteed loan subsidy (in percent):
232001 FHA Refi Letter of Credit 1.26 5.34 4.76



232999 Weighted average subsidy rate 1.26 5.34 4.76
Guaranteed loan subsidy budget authority:
233001 FHA Refi Letter of Credit 1 2,769 2,466



233999 Total subsidy budget authority 1 2,769 2,466
Guaranteed loan subsidy outlays:
234001 FHA Refi Letter of Credit 1 2,769 2,466



234999 Total subsidy outlays 1 2,769 2,466

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 (EESA) (P.L. 110–343). 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. Other MHA programs provide temporary mortgage payment relief to unemployed borrowers; increase affordability by modifying second mortgages when a corresponding first mortgage is modified under HAMP; 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 1.75 million borrowers have been offered trial modifications under MHA, and nearly 910,000 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 that 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 also support a Federal Housing Administration (FHA) refinance program 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 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0711 Default claim payments on principal 4 85
0713 Payment of interest to Treasury 19



0900 Total new obligations 4 104

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1 2,766
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 1 2,769 2,466



1850 Spending auth from offsetting collections, mand (total) 1 2,769 2,466
1930 Total budgetary resources available 1 2,770 5,232
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1 2,766 5,128

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 4 104
3040 Financing disbursements (gross) –4 –104

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 1 2,769 2,466
Financing disbursements:
4110 Financing disbursements, gross 4 104
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –1 –2,769 –2,466
4190 Financing disbursements, net (total) –1 –2,765 –2,362

Status of Guaranteed Loans (in millions of dollars)


Identification code 20–4329–0–3–371 2011 actual 2012 est. 2013 est.

Position with respect to appropriations act limitation on commitments:
2131 Guaranteed loan commitments exempt from limitation 73 51,862 51,862



2150 Total guaranteed loan commitments 73 51,862 51,862

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 73 51,888
2231 Disbursements of new guaranteed loans 73 51,862 51,862
2251 Repayments and prepayments –3 –2,280
Adjustments:
2263 Terminations for default that result in claim payments –4 –85
2264 Other adjustments, net –40 –850



2290 Outstanding, end of year 73 51,888 100,535

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 4 104

Balance Sheet (in millions of dollars)


Identification code 20–4329–0–3–371 2010 actual 2011 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 1


1999 Total assets 1
LIABILITIES:
2204 Non-Federal liabilities: Liabilities for loan guarantees 1


4999 Total liabilities and net position 1

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), [$41,800,000] $40,224,980. (Department of the Treasury Appropriations Act, 2012.)

Program and Financing (in millions of dollars)


Identification code 20–0133–0–1–376 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Direct program activity 38 46 47

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 36 35 31
1021 Recoveries of prior year unpaid obligations 1



1050 Unobligated balance (total) 37 35 31
Budget authority:
Appropriations, discretionary:
1100 Appropriation 36 42 40



1160 Appropriation, discretionary (total) 36 42 40
1900 Budget authority (total) 36 42 40
1930 Total budgetary resources available 73 77 71
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 35 31 24

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 10 10 8
3030 Obligations incurred, unexpired accounts 38 46 47
3040 Outlays (gross) –37 –48 –47
3080 Recoveries of prior year unpaid obligations, unexpired –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 10 8 8



3100 Obligated balance, end of year (net) 10 8 8

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 36 42 40
Outlays, gross:
4010 Outlays from new discretionary authority 29 34 32
4011 Outlays from discretionary balances 3 7 8



4020 Outlays, gross (total) 32 41 40
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 5 7 7
4180 Budget authority, net (total) 36 42 40
4190 Outlays, net (total) 37 48 47

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 is the agency charged with a mission of transparency, oversight, and enforcement related to the taxpayer's investments to stabilize financial markets through EESA. In order to fulfill its mission, SIGTARP investigates fraud, waste, and abuse related to the Troubled Asset Relief Program (TARP), thereby being a voice for, and protecting the interests of taxpayers.

In 2013, 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.

SIGTARP received an initial appropriation of $50 million in permanent, indefinite budget authority in EESA, in addition to $15 million in supplemental funding from the Helping Families Save Their Homes Act of 2009 (P.L. 111–22). Beginning in 2010, SIGTARP has received annual appropriations to fund its operations.

Object Classification (in millions of dollars)


Identification code 20–0133–0–1–376 2011 actual 2012 est. 2013 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 15 21 21
11.5 Other personnel compensation 2 2 2



11.9 Total personnel compensation 17 23 23
12.1 Civilian personnel benefits 4 5 6
21.0 Travel and transportation of persons 1 1 1
25.1 Advisory and assistance services 5 4 4
25.2 Other services from non-Federal sources 1 1 1
25.3 Other goods and services from Federal sources 8 10 10
26.0 Supplies and materials 1 1 1
31.0 Equipment 1 1 1



99.9 Total new obligations 38 46 47

Employment Summary


Identification code 20–0133–0–1–376 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 140 192 192

Small Business Lending Fund Program Account

Program and Financing (in millions of dollars)


Identification code 20–0141–0–1–376 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0701 Direct loan subsidy 292
0709 Administrative expenses 42 26 26



0900 Total new obligations 334 26 26

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 334 26 26



1260 Appropriations, mandatory (total) 334 26 26
1930 Total budgetary resources available 334 26 26

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 17 1
3030 Obligations incurred, unexpired accounts 334 26 26
3040 Outlays (gross) –317 –42 –26
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 17 1 1



3100 Obligated balance, end of year (net) 17 1 1

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 334 26 26
Outlays, gross:
4100 Outlays from new mandatory authority 317 26 26
4101 Outlays from mandatory balances 16



4110 Outlays, gross (total) 317 42 26
4180 Budget authority, net (total) 334 26 26
4190 Outlays, net (total) 317 42 26

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


Identification code 20–0141–0–1–376 2011 actual 2012 est. 2013 est.

Direct loan levels supportable by subsidy budget authority:
115001 Small Business Lending Fund Investments 4,028



115999 Total direct loan levels 4,028
Direct loan subsidy (in percent):
132001 Small Business Lending Fund Investments 7.24 0.00 0.00



132999 Weighted average subsidy rate 7.24 0.00 0.00
Direct loan subsidy budget authority:
133001 Small Business Lending Fund Investments 292



133999 Total subsidy budget authority 292
Direct loan subsidy outlays:
134001 Small Business Lending Fund Investments 292



134999 Total subsidy outlays 292
Direct loan downward reestimates:
137001 Small Business Lending Fund Investments –376



137999 Total downward reestimate budget authority –376

Administrative expense data:
3510 Budget authority 54 26 26
3580 Outlays from balances 2
3590 Outlays from new authority 25 26 25

Enacted into law as part of the Small Business Jobs Act of 2010 (P.L. 111–240), the Small Business Lending Fund (SBLF) is a dedicated investment fund that encourages lending to small businesses by providing capital to qualified community banks and community development loan funds (CDLFs) with assets of less than $10 billion. Through the SBLF, participating Main Street lenders and small businesses can work together to help create jobs and promote economic growth in local communities across the Nation.

In total, the SBLF provided $4.03 billion to 332 community banks and CDLFs in 2011. Since these institutions leverage their capital, the SBLF could help increase lending to small businesses in an amount that is multiples of the total capital provided.

The account totals also include the costs of administering the program, estimated at $26 million for 2013.

Object Classification (in millions of dollars)


Identification code 20–0141–0–1–376 2011 actual 2012 est. 2013 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 3 3 3
12.1 Civilian personnel benefits 1 1 1
25.1 Advisory and assistance services 1 4 4
25.2 Other services from non-Federal sources 37 18 18
33.0 Investments and loans 292



99.9 Total new obligations 334 26 26

Employment Summary


Identification code 20–0141–0–1–376 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 23 30 28

Small Business Lending Fund Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4349–0–3–376 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 4,028
0713 Payment of interest to Treasury 339 86 76
0742 Downward reestimate paid to receipt account 368
0743 Interest on downward reestimates 8



0900 Total new obligations 4,367 462 76

Budgetary Resources:
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 16,140
1421 Borrowing authority applied to repay debt –12,404



1440 Borrowing authority, mandatory (total) 3,736
Spending authority from offsetting collections, mandatory:
1800 Collected 631 572 122
1825 Spending authority from offsetting collections applied to repay debt –110 –46



1850 Spending auth from offsetting collections, mand (total) 631 462 76
1900 Financing authority(total) 4,367 462 76
1930 Total budgetary resources available 4,367 462 76

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 4,367 462 76
3040 Financing disbursements (gross) –4,367 –462 –76

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 4,367 462 76
Financing disbursements:
4110 Financing disbursements, gross 4,367 462 76
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –292
4122 Interest on uninvested funds –339 –10 –1
4123 Non-Federal sources - Principal –463 –15
4123 Non-Federal sources - Dividends –99 –106



4130 Offsets against gross financing auth and disbursements (total) –631 –572 –122



4160 Financing authority, net (mandatory) 3,736 –110 –46
4170 Financing disbursements, net (mandatory) 3,736 –110 –46
4180 Financing authority, net (total) 3,736 –110 –46
4190 Financing disbursements, net (total) 3,736 –110 –46

Status of Direct Loans (in millions of dollars)


Identification code 20–4349–0–3–376 2011 actual 2012 est. 2013 est.

Position with respect to appropriations act limitation on obligations:
1131 Direct loan obligations exempt from limitation 4,028



1150 Total direct loan obligations 4,028

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 4,028 3,547
1231 Disbursements: Direct loan disbursements 4,028
1251 Repayments: Repayments and prepayments –463 –15
1263 Write-offs for default: Direct loans –18 –23



1290 Outstanding, end of year 4,028 3,547 3,509

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.

Balance Sheet (in millions of dollars)


Identification code 20–4349–0–3–376 2010 actual 2011 actual

ASSETS:
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 4,028
1405 Allowance for subsidy cost (-) 80


1499 Net present value of assets related to direct loans 4,108


1999 Total assets 4,108
LIABILITIES:
Federal liabilities:
2103 Debt 3,737
2105 Other 371


2999 Total liabilities 4,108


4999 Total liabilities and net position 4,108

State Small Business Credit Initiative

Program and Financing (in millions of dollars)


Identification code 20–0142–0–1–376 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Administrative Costs 5 6 7
0002 State Small Business Credit 1,259 204



0900 Total new obligations 1,264 210 7

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1,500 236 26
1930 Total budgetary resources available 1,500 236 26
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 236 26 19

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 898 249
3030 Obligations incurred, unexpired accounts 1,264 210 7
3040 Outlays (gross) –366 –859 –251
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 898 249 5



3100 Obligated balance, end of year (net) 898 249 5

Budget authority and outlays, net:
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 366 859 251
4190 Outlays, net (total) 366 859 251

The Small Business Jobs Act of 2010 (P.L. 111–240) created the State Small Business Credit Initiative (SSBCI), which was funded with $1.5 billion, inclusive of administrative costs, to strengthen State programs that support lending to small businesses and small manufacturers. The SSBCI is expected to help spur up to $15 billion in lending to small businesses. Under the SSBCI, participating States have access to Federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are having difficulty securing the loans they need to expand and create jobs. The SSBCI will allow States to build on successful models for State small business programs, including collateral support programs, capital access programs (CAPs), and loan guarantee programs. Existing and new state programs are eligible for support under the SSBCI.

In 2011, Treasury established the SSBCI office, accepted applications from over 58 eligible entities by the statutory due dates, and approved over $435 million for disbursement to approved applicants. Through November 30, 2011, Treasury had obligated $1.37 billion of the $1.46 billion apportioned for funding to States. In addition, in order to maximize participation in and the effectiveness of the program, SSBCI expects to spend approximately $3.5 million in 2012 and 2013 on dedicated technical assistance to States as they implement these programs and deploy funds to eligible small businesses.

Object Classification (in millions of dollars)


Identification code 20–0142–0–1–376 2011 actual 2012 est. 2013 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 1 2 3
25.1 Advisory and assistance services 4 2 2
25.3 Other goods and services from Federal sources 2 2
41.0 Grants, subsidies, and contributions 1,259 204



99.9 Total new obligations 1,264 210 7

Employment Summary


Identification code 20–0142–0–1–376 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 5 12 12

GSE Preferred Stock Purchase Agreements

Program and Financing (in millions of dollars)


Identification code 20–0125–0–1–371 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Direct program activity 20,766 39,745 12,700



0900 Total new obligations (object class 33.0) 20,766 39,745 12,700

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 251,800 231,034 191,289
1930 Total budgetary resources available 251,800 231,034 191,289
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 231,034 191,289 178,589

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 20,766 39,745 12,700
3040 Outlays (gross) –20,766 –39,745 –12,700

Budget authority and outlays, net:
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 20,766 39,745 12,700
4190 Outlays, net (total) 20,766 39,745 12,700

Section 1117 of the Housing and Economic Recovery Act of 2008 (P.L. 110–289) provided 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, 2011, Treasury had made payments of $182.7 billion under the PSPAs and received $36.3 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 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0010 Financial Agent Services 20 14 11
Credit program obligations:
0703 Subsidy for modifications of direct loans 5,125
0705 Reestimates of direct loan subsidy 2,508 105
0706 Interest on reestimates of direct loan subsidy 264 32



0791 Direct program activities, subtotal 7,897 137



0900 Total new obligations 7,917 151 11

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 3
Budget authority:
Appropriations, mandatory:
1200 Appropriation 7,897 137
1221 Transferred from other accounts [20–1802] 21 17 17



1260 Appropriations, mandatory (total) 7,918 154 17
1930 Total budgetary resources available 7,918 154 20
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1
1941 Unexpired unobligated balance, end of year 3 9

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 3 4
3030 Obligations incurred, unexpired accounts 7,917 151 11
3031 Obligations incurred, expired accounts 6
3040 Outlays (gross) –7,922 –155 –11
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 4



3100 Obligated balance, end of year (net) 4

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 7,918 154 17
Outlays, gross:
4100 Outlays from new mandatory authority 7,913 151 11
4101 Outlays from mandatory balances 9 4



4110 Outlays, gross (total) 7,922 155 11
4180 Budget authority, net (total) 7,918 154 17
4190 Outlays, net (total) 7,922 155 11

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


Identification code 20–0126–0–1–371 2011 actual 2012 est. 2013 est.

Direct loan subsidy outlays:
134001 GSE MBS Purchases 5,125
134002 New Issue Bond Program SF –172
134003 New Issue Bond Program MF –14
134004 Temporary Credit and Liquidity Program SF –222
134005 Temporary Credit and Liquidity Program MF –37



134999 Total subsidy outlays 5,125 –445
Direct loan upward reestimates:
135001 GSE MBS Purchases 950
135002 New Issue Bond Program SF 1,127 24
135003 New Issue Bond Program MF 695 113



135999 Total upward reestimate budget authority 2,772 137
Direct loan downward reestimates:
137001 GSE MBS Purchases –467 –7,457
137002 New Issue Bond Program SF –141



137999 Total downward reestimate budget authority –467 –7,598

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 $226 billion in MBS through December 31, 2009. In March of 2011, Treasury announced that it would begin selling off up to $10 billion of its MBS holdings per month, subject to market conditions. As a result of these sales and regular borrower repayments, Treasury's MBS holdings declined to $71 billion as of September 30, 2011.

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. In November 2011, Treasury announced a one-year extension, to December 31, 2012, of the contractual deadline for HFAs to use existing NIBP funds. 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 2011 actual 2012 est. 2013 est.

Direct obligations:
25.1 Advisory and assistance services 20 14 11
41.0 Grants, subsidies, and contributions 7,897 137



99.9 Total new obligations 7,917 151 11

GSE Mortgage-Backed Securities Purchase Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4272–0–3–371 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 4,725 1,666 232
0742 Downward reestimate paid to receipt account 454 7,039
0743 Interest on downward reestimates 13 418



0900 Total new obligations 5,192 9,123 232

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 12,101 7,396
1023 Unobligated balances applied to repay debt –12,101



1050 Unobligated balance (total) 7,396
Financing authority:
Appropriations, mandatory:
1200 Appropriation 4,613
1236 Appropriations applied to repay debt –4,613
Borrowing authority, mandatory:
1400 Borrowing authority 467



1440 Borrowing authority, mandatory (total) 467
Spending authority from offsetting collections, mandatory:
1800 Collected 108,802 72,190 746
1825 Spending authority from offsetting collections applied to repay debt –96,681 –70,463 –514



1850 Spending auth from offsetting collections, mand (total) 12,121 1,727 232
1900 Financing authority(total) 12,588 1,727 232
1930 Total budgetary resources available 12,588 9,123 232
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 7,396

Change in obligated balance:
3030 Obligations incurred, unexpired accounts 5,192 9,123 232
3040 Financing disbursements (gross) –5,192 –9,123 –232

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 12,588 1,727 232
Financing disbursements:
4110 Financing disbursements, gross 5,192 9,123 232
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –6,075
4122 Interest on uninvested funds –1,267 –1,500 –24
4123 Non-Federal sources- Interest –6,301 –1,168 –67
4123 Non-Federal sources - Principal –95,159 –69,522 –655



4130 Offsets against gross financing auth and disbursements (total) –108,802 –72,190 –746



4160 Financing authority, net (mandatory) –96,214 –70,463 –514
4170 Financing disbursements, net (mandatory) –103,610 –63,067 –514
4180 Financing authority, net (total) –96,214 –70,463 –514
4190 Financing disbursements, net (total) –103,610 –63,067 –514

Status of Direct Loans (in millions of dollars)


Identification code 20–4272–0–3–371 2011 actual 2012 est. 2013 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 164,339 70,586 4,768
1251 Repayments: Repayments and prepayments –93,753 –65,818 –645



1290 Outstanding, end of year 70,586 4,768 4,123

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 2010 actual 2011 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 12,101 7,397
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 164,339 70,586
1405 Allowance for subsidy cost (-) 8,845 1,831


1499 Net present value of assets related to direct loans 173,184 72,417


1999 Total assets 185,285 79,814
LIABILITIES:
Federal liabilities:
2103 Debt 184,818 71,890
2105 Other Liabilities without Related Budgetary Obligations 467 7,924


2999 Total liabilities 185,285 79,814


4999 Total liabilities and net position 185,285 79,814

State HFA Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4298–0–3–371 2011 actual 2012 est. 2013 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 597 567 583
0741 Modification savings 186
0742 Downward reestimate paid to receipt account 141



0900 Total new obligations 597 894 583

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1,168 30 16
1020 Adjustment of unobligated bal brought forward, Oct 1 –945
1021 Recoveries of prior year unpaid obligations 1,007
1023 Unobligated balances applied to repay debt –292
1024 Unobligated balance of borrowing authority withdrawn –938



1050 Unobligated balance (total) 30 16
Financing authority:
Appropriations, mandatory:
1200 Appropriation 113
1236 Appropriations applied to repay debt –113
Borrowing authority, mandatory:
1400 Borrowing authority 247 186



1440 Borrowing authority, mandatory (total) 247 186
Spending authority from offsetting collections, mandatory:
1800 Collected 2,202 1,780 3,107
1825 Spending authority from offsetting collections applied to repay debt –1,822 –1,086 –2,073



1850 Spending auth from offsetting collections, mand (total) 380 694 1,034
1900 Financing authority(total) 627 880 1,034
1930 Total budgetary resources available 627 910 1,050
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 30 16 467

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 7,572 7,117 7,201
3001 Adjustments to unpaid obligations, brought forward, Oct 1 552



3020 Obligated balance, start of year (net) 8,124 7,117 7,201
3030 Obligations incurred, unexpired accounts 597 894 583
3040 Financing disbursements (gross) –597 –810 –4,035
3080 Recoveries of prior year unpaid obligations, unexpired –1,007
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 7,117 7,201 3,749



3100 Obligated balance, end of year (net) 7,117 7,201 3,749

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 627 880 1,034
Financing disbursements:
4110 Financing disbursements, gross 597 810 4,035
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –1,822 –137
4122 Interest on uninvested funds –66 –46 –85
4123 Non-Federal sources - Interest –120 –332 –539
4123 Non-Federal sources - Principal –164 –1,222 –2,467
4123 Non-Federal sources - Other –30 –43 –16



4130 Offsets against gross financing auth and disbursements (total) –2,202 –1,780 –3,107



4160 Financing authority, net (mandatory) –1,575 –900 –2,073
4170 Financing disbursements, net (mandatory) –1,605 –970 928
4180 Financing authority, net (total) –1,575 –900 –2,073
4190 Financing disbursements, net (total) –1,605 –970 928

Status of Direct Loans (in millions of dollars)


Identification code 20–4298–0–3–371 2011 actual 2012 est. 2013 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 15,307 15,143 14,023
1231 Disbursements: Direct loan disbursements 102 3,452
1251 Repayments: Repayments and prepayments –164 –1,222 –2,467



1290 Outstanding, end of year 15,143 14,023 15,008

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 2010 actual 2011 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 1,168 515
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 15,307 15,143
1405 Allowance for subsidy cost (-) 636 –670


1499 Net present value of assets related to direct loans 15,943 14,473


1999 Total assets 17,111 14,988
LIABILITIES:
2103 Federal liabilities: Debt 17,111 14,988


4999 Total liabilities and net position 17,111 14,988

Trust Funds

Capital Magnet Fund, Community Develpment Financial Institutions

Program and Financing (in millions of dollars)


Identification code 20–8524–0–7–451 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Direct program activity 80



0900 Total new obligations (object class 41.0) 80

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 80
1930 Total budgetary resources available 80

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 5
3030 Obligations incurred, unexpired accounts 80
3040 Outlays (gross) –75 –5
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 5



3100 Obligated balance, end of year (net) 5

Budget authority and outlays, net:
Discretionary:
Outlays, gross:
4011 Outlays from discretionary balances 75 5
4190 Outlays, net (total) 75 5

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 to 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, such 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 2011 actual 2012 est. 2013 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

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, [$110,788,000] $102,407,000, of which not to exceed $34,335,000 shall remain available until September 30, [2014] 2015: Provided, That funds appropriated in this account may be used to procure personal services contracts. (Department of the Treasury Appropriations Act, 2012.)

Program and Financing (in millions of dollars)


Identification code 20–0173–0–1–751 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 BSA administration and Analysis 89 111 102
0002 Regulatory support programs, including money services businesses 16



0799 Total direct obligations 105 111 102
0801 Reimbursable program 13 3 3



0900 Total new obligations 118 114 105

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 25 30 30
Budget authority:
Appropriations, discretionary:
1100 Appropriation 111 111 102



1160 Appropriation, discretionary (total) 111 111 102
Spending authority from offsetting collections, discretionary:
1700 Collected 4 3 3
1701 Change in uncollected payments, Federal sources 8



1750 Spending auth from offsetting collections, disc (total) 12 3 3
1900 Budget authority (total) 123 114 105
1930 Total budgetary resources available 148 144 135
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 30 30 30

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 30 28 27
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –10 –8 –8



3020 Obligated balance, start of year (net) 20 20 19
3030 Obligations incurred, unexpired accounts 118 114 105
3040 Outlays (gross) –119 –115 –108
3050 Change in uncollected pymts, Fed sources, unexpired –8
3051 Change in uncollected pymts, Fed sources, expired 10
3081 Recoveries of prior year unpaid obligations, expired –1
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 28 27 24
3091 Uncollected pymts, Fed sources, end of year –8 –8 –8



3100 Obligated balance, end of year (net) 20 19 16

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 123 114 105
Outlays, gross:
4010 Outlays from new discretionary authority 81 87 80
4011 Outlays from discretionary balances 38 28 28



4020 Outlays, gross (total) 119 115 108
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –14 –3 –3
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –8
4052 Offsetting collections credited to expired accounts 10



4060 Additional offsets against budget authority only (total) 2



4070 Budget authority, net (discretionary) 111 111 102
4080 Outlays, net (discretionary) 105 112 105
4180 Budget authority, net (total) 111 111 102
4190 Outlays, net (total) 105 112 105

The mission of the Financial Crimes Enforcement Network (FinCEN) is to enhance the integrity of financial systems by facilitating the detection and deterrence of financial crime. FinCEN fulfills its mission by administering the Bank Secrecy Act (BSA); furnishing analytical and financial expertise in support of law enforcement investigations and prosecutions; determining emerging trends in money laundering and other financial crimes; and serving as the nation's financial intelligence unit.

The Budget provides resources for FinCEN to safeguard the financial systems from abuse and promote transparency in the U.S. and international financial systems; enhance BSA regulatory compliance and enforcement; lead efforts to coordinate federal, state, and local efforts to combat fraud; engage with priority countries and international bodies to strengthen mechanisms for global information exchange; and efficiently manage the collection, processing, and retrieval of BSA data using the new BSA information system.

Object Classification (in millions of dollars)


Identification code 20–0173–0–1–751 2011 actual 2012 est. 2013 est.

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



11.9 Total personnel compensation 36 38 36
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
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 13 24
25.3 Other goods and services from Federal sources 13 15 9
25.4 Operation and maintenance of facilities 1
25.7 Operation and maintenance of equipment 8 5 5
26.0 Supplies and materials 1 1 1
31.0 Equipment 14 19 8



99.0 Direct obligations 105 111 102
99.0 Reimbursable obligations 13 3 3



99.9 Total new obligations 118 114 105

Employment Summary


Identification code 20–0173–0–1–751 2011 actual 2012 est. 2013 est.

1001 Direct civilian full-time equivalent employment 314 327 322
2001 Reimbursable civilian full-time equivalent employment 1 1 1

Fiscal Service

Federal Funds

Salaries and Expenses, Fiscal Service

For necessary expenses of operations of the Fiscal Service, not including expenses of Departmental Offices, $360,531,000; of which not to exceed $4,210,000, to remain available until September 30, 2015, is for information systems modernization initiatives; and of which $5,000 shall be available for official reception and representation expenses: Provided, That the sum appropriated herein from the general fund for fiscal year 2013 shall be reduced by not more than $1,000,000 as definitive security issue fees and Legacy Treasury Direct Investor Account Maintenance fees are collected, so as to result in a final fiscal year 2013 appropriation from the general fund estimated at $359,531,000.

In addition, $165,000, to be derived from the Oil Spill Liability Trust Fund to reimburse administrative and personnel expenses for financial management of the Fund, as authorized by section 1012 of Public Law 101–380.

[For necessary expenses of the Financial Management Service, $217,805,000, of which not to exceed $4,210,000 shall remain available until September 30, 2014, for information systems modernization initiatives; and of which not to exceed $2,500 shall be available for official reception and representation expenses.]

[For necessary expenses connected with any public-debt issues of the United States, $173,635,000, of which not to exceed $2,500 shall be available for official reception and representation expenses, and of which not to exceed $10,000,000 shall remain available until September 30, 2014, to reduce improper payments: Provided, That the sum appropriated herein from the general fund for fiscal year 2012 shall be reduced by not more than $8,000,000 as definitive security issue fees and Legacy Treasury Direct Investor Account Maintenance fees are collected, so as to result in a final fiscal year 2012 appropriation from the general fund estimated at $165,635,000. In addition, $165,000 to be derived from the Oil Spill Liability Trust Fund to reimburse the Bureau for administrative and personnel expenses for financial management of the Fund, as authorized by section 1012 of Public Law 101380.] (Department of the Treasury Appropriations Act, 2012.)

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–0520–0–1–800 2011 actual 2012 est. 2013 est.

0100 Balance, start of year 3 3 33
Receipts:
0220 Debt Collection 92 92 92



0400 Total: Balances and collections 95 95 125
Appropriations:
0500 Salaries and Expenses, Fiscal Service –92 –62 –74



0799 Balance, end of year 3 33 51

Program and Financing (in millions of dollars)


Identification code 20–0520–0–1–800 2011 actual 2012 est. 2013 est.

Obligations by program activity:
0001 Collections 23 21 20
0002 Debt Collection 73 62 74
0003 GOVerify Business Center 10 5
0004 Government Agency Investment Services 17 16 14
0005 Government-wide Accounting and Reporting 73 65 62
0006 Payments 138 132 128
0007 Retail Securities Services 121 110 102
0008 Summary Debt Accounting 14 9 8
0009 Wholesale Securities Services 21 23 22



0799 Total direct obligations 480 448 435
0801 Reimbursable program activity 191 202 175



0900 Total new obligations 671 650 610

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 82 100 99
1012 Unobligated balance transfers between expired and unexpired accounts 3 1



1050 Unobligated balance (total) 85 101 99
Budget authority:
Appropriations, discretionary:
1100 Appropriation 414 384 360
1120 Appropriations transferred to other accts [20–0101] –3



1160 Appropriation, discretionary (total) 411 384 360
Appropriations, mandatory:
1201 Special Fund 20–5445 92 62 74



1260 Appropriations, mandatory (total) 92 62 74
Spending authority from offsetting collections, discretionary:
1700 Collected 167 194 174
1700 Offsetting collections (user fees) 4 8 1
1701 Change in uncollected payments, Federal sources 19



1750 Spending auth from offsetting collections, disc (total) 190 202 175
1900 Budget authority (total) 693 648 609
1930 Total budgetary resources available 778 749 708
Memorandum (non-add) entries:
1940 Unobligated balance expiring –7
1941 Unexpired unobligated balance, end of year 100 99 98

Change in obligated balance:
Obligated balance, start of year (net):
3000 Unpaid obligations, brought forward, Oct 1 (gross) 122 126 70
3010 Uncollected pymts, Fed sources, brought forward, Oct 1 –29 –24 –24



3020 Obligated balance, start of year (net) 93 102 46
3030 Obligations incurred, unexpired accounts 671 650 610
3031 Obligations incurred, expired accounts 6
3040 Outlays (gross) –659 –706 –598
3050 Change in uncollected pymts, Fed sources, unexpired –19
3051 Change in uncollected pymts, Fed sources, expired 24
3081 Recoveries of prior year unpaid obligations, expired –14
Obligated balance, end of year (net):
3090 Unpaid obligations, end of year (gross) 126 70 82
3091 Uncollected pymts, Fed sources, end of year –24 –24 –24



3100 Obligated balance, end of year (net) 102 46 58

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 601 586 535
Outlays, gross:
4010 Outlays from new discretionary authority 520 504 460
4011 Outlays from discretionary balances 69 61 64



4020 Outlays, gross (total) 589 565 524
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –189 –194 –174
4033 Non-Federal sources –4 –8 –1



4040 Offsets against gross budget authority and outlays (total) –193 –202 –175
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –19
4052 Offsetting collections credited to expired accounts 22



4060 Additional offsets against budget authority only (total) 3



4070 Budget authority, net (discretionary) 411 384 360
4080 Outlays, net (discretionary) 396 363 349
Mandatory:
4090 Budget authority, gross 92 62 74
Outlays, gross:
4100 Outlays from new mandatory authority 53 64
4101 Outlays from mandatory balances 70 88 10



4110 Outlays, gross (total) 70 141 74
4180 Budget authority, net (total) 503 446 434
4190 Outlays, net (total) 466 504 423

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


2011 actual 2012 est. 2013 est.

Enacted/requested:
Budget Authority 503 446 434
Outlays 466 504 423
Legislative proposal, subject to PAYGO:
Budget Authority 1
Outlays 1
Total:
Budget Authority 503 446 435
Outlays 466 504 424

Starting in 2013, the Budget consolidates the administrative operations currently provided under the Bureau of the Public Debt and the Financial Management Service, the operational arms of Treasury's Fiscal Service, under a single appropriation. This allows Treasury to eliminate duplicative functions and better enables the Department to provide leadership across the Federal Government to improve financial management while maintaining existing core Federal financial management operations. These activities include providing the disbursement of Federal government payments and receipts; collecting delinquent debt; providing government-wide accounting and reporting services; borrowing the money needed to operate the Federal government; accounting for the debt; and providing accounting and other reimbursable services to government agencies.

The Budget provides resources to support the core operational activities of the Fiscal Service, with a focus on increasing the number of electronic transactions with the public; reducing improper payments; improving the effectiveness of debt collection activities; and developing new solutions for streamlining government-wide accounting.

DISTRIBUTION OF GROSS BUDGET AUTHORITY AND OUTLAYS BY ACCOUNT (in millions of dollars)


Distribution of budget authority by account: 2011 2012 2013

Salaries and Expenses, Financial Management Service 398 387 0
Administering the Public Debt, Bureau of the Public Debt 203 199 0

Salaries and Expenses, Fiscal Service 0 0 535




Total Budget Authority: 601 586 535