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, $311,775,000: Provided, That of the amount appropriated under this heading, not to exceed $3,000,000, to remain available until September 30, 2015, 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, $8,287,000, to remain available until September 30, 2015, 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, 2015, is for secure space requirements: Provided further, That of the amount appropriated under this heading, up to $2,000,000, to remain available until September 30, 2015, is for State Small Business Credit Initiative technical assistance and shall be in addition to any other amounts available for this purpose: Provided further, That of the amount appropriated under this heading, up to $7,400,000, to remain available until September 30, 2015, is for audit, oversight, and administration of the Gulf Coast Restoration Trust Fund: Provided further, That of the amount appropriated under this heading, up to $3,400,000, to remain available until September 30, 2016, 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.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0101–0–1–803 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Executive Direction 35 37 36
0002 International Affairs and Economic Policy 62 60 56
0003 Domestic Finance and Tax Policy 71 72 86
0004 Terrorism and Financial Intelligence 99 100 98
0005 Treasury-wide Management and Programs 44 41 36



0100 Subtotal, Direct programs 311 310 312



0799 Total direct obligations 311 310 312
0811 Reimbursable program 66 70 70



0900 Total new obligations 377 380 382

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 19 15 21
1021 Recoveries of prior year unpaid obligations 1



1050 Unobligated balance (total) 20 15 21
Budget authority:
Appropriations, discretionary:
1100 Appropriation 308 310 312



1160 Appropriation, discretionary (total) 308 310 312
Spending authority from offsetting collections, discretionary:
1700 Collected 51 76 77
1701 Change in uncollected payments, Federal sources 15



1750 Spending auth from offsetting collections, disc (total) 66 76 77
1900 Budget authority (total) 374 386 389
1930 Total budgetary resources available 394 401 410
Memorandum (non-add) entries:
1940 Unobligated balance expiring –2
1941 Unexpired unobligated balance, end of year 15 21 28

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 105 95 47
3010 Obligations incurred, unexpired accounts 377 380 382
3011 Obligations incurred, expired accounts 6
3020 Outlays (gross) –373 –428 –390
3040 Recoveries of prior year unpaid obligations, unexpired –1
3041 Recoveries of prior year unpaid obligations, expired –19



3050 Unpaid obligations, end of year 95 47 39
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –28 –21 –21
3070 Change in uncollected pymts, Fed sources, unexpired –15
3071 Change in uncollected pymts, Fed sources, expired 22



3090 Uncollected pymts, Fed sources, end of year –21 –21 –21
Memorandum (non-add) entries:
3100 Obligated balance, start of year 77 74 26
3200 Obligated balance, end of year 74 26 18

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 374 386 389
Outlays, gross:
4010 Outlays from new discretionary authority 298 346 349
4011 Outlays from discretionary balances 75 82 41



4020 Outlays, gross (total) 373 428 390
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –70 –76 –77
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –15
4052 Offsetting collections credited to expired accounts 19



4060 Additional offsets against budget authority only (total) 4



4070 Budget authority, net (discretionary) 308 310 312
4080 Outlays, net (discretionary) 303 352 313
4180 Budget authority, net (total) 308 310 312
4190 Outlays, net (total) 303 352 313

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. In FY 2014, the Department also proposes an initiative to promote greater access to financial services among low- and moderate-income families.

Object Classification (in millions of dollars)


Identification code 20–0101–0–1–803 2012 actual 2013 CR 2014 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 132 134 135
11.3 Other than full-time permanent 2 2 2
11.5 Other personnel compensation 4 4 4



11.9 Total personnel compensation 138 140 141
12.1 Civilian personnel benefits 39 40 40
13.0 Benefits for former personnel 1 1
21.0 Travel and transportation of persons 6 6 6
23.1 Rental payments to GSA 4 5 5
23.2 Rental payments to others 1 1 1
23.3 Communications, utilities, and miscellaneous charges 4 4 4
25.1 Advisory and assistance services 17 17 17
25.2 Other services from non-Federal sources 27 28 27
25.3 Other goods and services from Federal sources 48 48 49
25.4 Operation and maintenance of facilities 1
25.5 Research and development contracts 1 1 1
25.7 Operation and maintenance of equipment 2 2 2
26.0 Supplies and materials 6 6 6
31.0 Equipment 12 8 8
32.0 Land and structures 4 4 4



99.0 Direct obligations 311 310 312
99.0 Reimbursable obligations 66 70 70



99.9 Total new obligations 377 380 382

Employment Summary


Identification code 20–0101–0–1–803 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 1,181 1,199 1,171
2001 Reimbursable civilian full-time equivalent employment 129 172 132

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, $2,725,000, to remain available until September 30, 2016: Provided, That 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.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0115–0–1–803 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Direct program activity 6 3 3

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 8 2
1021 Recoveries of prior year unpaid obligations 1 1



1050 Unobligated balance (total) 8 3 1
Budget authority:
Appropriations, discretionary:
1100 Appropriation 3



1160 Appropriation, discretionary (total) 3
1900 Budget authority (total) 3
1930 Total budgetary resources available 8 3 4
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 2 1

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 21 7 4
3010 Obligations incurred, unexpired accounts 6 3 3
3020 Outlays (gross) –17 –5 –1
3040 Recoveries of prior year unpaid obligations, unexpired –1 –1
3041 Recoveries of prior year unpaid obligations, expired –3



3050 Unpaid obligations, end of year 7 4 5
Memorandum (non-add) entries:
3100 Obligated balance, start of year 21 7 4
3200 Obligated balance, end of year 7 4 5

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 3
Outlays, gross:
4010 Outlays from new discretionary authority 1
4011 Outlays from discretionary balances 17 5



4020 Outlays, gross (total) 17 5 1
4180 Budget authority, net (total) 3
4190 Outlays, net (total) 17 5 1

This account is authorized to be used by Treasury's offices and bureaus to modernize business processes and increase efficiency through technology and infrastructure investments. Current investments include implementation of cybersecurity program initiatives, which will help prevent computer security breaches that could result in disclosure of sensitive information, and repairs and renovations to buildings owned and maintained by the Department of the Treasury.

Object Classification (in millions of dollars)


Identification code 20–0115–0–1–803 2012 actual 2013 CR 2014 est.

Direct obligations:
25.1 Advisory and assistance services 1
25.2 Other services from non-Federal sources 1 3 2
31.0 Equipment 1
32.0 Land and structures 3 1



99.9 Total new obligations 6 3 3

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, as amended, including hire of passenger motor vehicles, $31,351,000; 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.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0106–0–1–803 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Audits 22 23 24
0002 Investigations 7 7 7



0799 Total direct obligations 29 30 31
0801 Reimbursable program 11 15 15



0900 Total new obligations 40 45 46

Budgetary Resources:
Budget authority:
Appropriations, discretionary:
1100 Appropriation 30 30 31



1160 Appropriation, discretionary (total) 30 30 31
Spending authority from offsetting collections, discretionary:
1700 Collected 4 15 15
1701 Change in uncollected payments, Federal sources 7



1750 Spending auth from offsetting collections, disc (total) 11 15 15
1900 Budget authority (total) 41 45 46
1930 Total budgetary resources available 41 45 46
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 12 12 16
3010 Obligations incurred, unexpired accounts 40 45 46
3020 Outlays (gross) –39 –41 –45
3041 Recoveries of prior year unpaid obligations, expired –1



3050 Unpaid obligations, end of year 12 16 17
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –6 –7 –7
3070 Change in uncollected pymts, Fed sources, unexpired –7
3071 Change in uncollected pymts, Fed sources, expired 6



3090 Uncollected pymts, Fed sources, end of year –7 –7 –7
Memorandum (non-add) entries:
3100 Obligated balance, start of year 6 5 9
3200 Obligated balance, end of year 5 9 10

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 41 45 46
Outlays, gross:
4010 Outlays from new discretionary authority 29 30 31
4011 Outlays from discretionary balances 10 11 14



4020 Outlays, gross (total) 39 41 45
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –10 –15 –15
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –7
4052 Offsetting collections credited to expired accounts 6



4060 Additional offsets against budget authority only (total) –1



4070 Budget authority, net (discretionary) 30 30 31
4080 Outlays, net (discretionary) 29 26 30
4180 Budget authority, net (total) 30 30 31
4190 Outlays, net (total) 29 26 30

The Office of Inspector General (OIG) conducts audits, evaluations, and investigations designed to: (1) promote economy, efficiency, and effectiveness and prevent and detect fraud, waste, and abuse in Departmental programs and operations; and (2) keep the Secretary and the Congress fully and currently informed of problems and deficiencies in the administration of Departmental programs and operations. 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 and the Moving Ahead for Progress in the 21st Century Act (MAP-21) has tasked Treasury OIG with providing oversight of all projects, programs, and operations of the Gulf Coast Restoration Trust Fund.

The 2014 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, improper payments prevention, 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 2014.

In 2014, 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 2014, 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 2012 actual 2013 CR 2014 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 15 16 18
11.5 Other personnel compensation 1 1 1



11.9 Total personnel compensation 16 17 19
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 3 2
31.0 Equipment 1



99.0 Direct obligations 29 30 31
99.0 Reimbursable obligations 10 15 15
99.5 Below reporting threshold 1



99.9 Total new obligations 40 45 46

Employment Summary


Identification code 20–0106–0–1–803 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 173 172 216
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; $149,538,000, of which not to exceed $6,000,000 shall be available for official travel expenses; of which not to exceed $500,000 shall be available for unforeseen emergencies of a confidential nature, to be allocated and expended under the direction of the Inspector General for Tax Administration.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0119–0–1–803 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Audit 56 58 58
0002 Investigations 96 95 92



0799 Total direct obligations 152 153 150
0801 Reimbursable program 1 1 1



0900 Total new obligations 153 154 151

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 2 1 1
Budget authority:
Appropriations, discretionary:
1100 New budget authority (gross), detail 152 153 150



1160 Appropriation, discretionary (total) 152 153 150
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) 153 154 151
1930 Total budgetary resources available 155 155 152
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1
1941 Unexpired unobligated balance, end of year 1 1 1

Change in obligated balance:
Unpaid obligations:
3000 Change in obligated balances 16 15 13
3010 Obligations incurred, unexpired accounts 153 154 151
3011 Obligations incurred, expired accounts 1
3020 Outlays (gross) –153 –156 –151
3041 Recoveries of prior year unpaid obligations, expired –2



3050 Unpaid obligations, end of year 15 13 13
Memorandum (non-add) entries:
3100 Obligated balance, start of year 16 15 13
3200 Obligated balance, end of year 15 13 13

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 153 154 151
Outlays, gross:
4010 Outlays (gross), detail 141 142 139
4011 Outlays from discretionary balances 12 14 12



4020 Outlays, gross (total) 153 156 151
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –1 –1 –1
4180 Budget authority, net (total) 152 153 150
4190 Outlays, net (total) 152 155 150

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. TIGTA also continues to play a key role in ensuring the provisions of the Affordable Care Act are implemented and administered in accordance with the law and the intent of Congress.

In 2014, TIGTA's Office of Investigations 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 2014, TIGTA's Office of Audit will strike 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 major management and performance challenges facing the IRS, including strategic goals progress and eliminating 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 2012 highlights include issuing 117 audit reports, and identifying more than $22.7 billion in potential financial benefits.

In 2014, 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 2012 actual 2013 CR 2014 est.

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



11.9 Total personnel compensation 92 92 91
12.1 Civilian personnel benefits 30 30 30
21.0 Travel and transportation of persons 4 4 3
23.1 Rental payments to GSA 9 9 9
23.3 Communications, utilities, and miscellaneous charges 2 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 8 8
25.7 Operation and maintenance of equipment 1 1 1
26.0 Supplies and materials 1 1 1
31.0 Equipment 4 4 3



99.0 Direct obligations 152 153 150
99.0 Reimbursable obligations 1 1 1



99.9 Total new obligations 153 154 151

Employment Summary


Identification code 20–0119–0–1–803 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 805 835 835
2001 Reimbursable civilian full-time equivalent employment 2 2 2

Expanded Access to Financial Services

Program and Financing (in millions of dollars)


Identification code 20–0121–0–1–808 2012 actual 2013 CR 2014 est.

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1
3020 Outlays (gross) –1
Memorandum (non-add) entries:
3100 Obligated balance, start of year 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. Funding for this account was last appropriated in FY 2000 (P.L. 106–346).

Counterterrorism Fund

Program and Financing (in millions of dollars)


Identification code 20–0117–0–1–751 2012 actual 2013 CR 2014 est.

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1 1 1



3050 Unpaid obligations, end of year 1 1 1
Memorandum (non-add) entries:
3100 Obligated balance, start of year 1 1 1
3200 Obligated balance, end of year 1 1 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 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Base Administrative Expenses 2 3 3
0003 Projected Payments to Insurers 105 250



0900 Total new obligations 2 108 253

Budgetary Resources:
Unobligated balance:
1021 Recoveries of prior year unpaid obligations 1



1050 Unobligated balance (total) 1
Budget authority:
Appropriations, mandatory:
1200 Appropriation 1 108 253



1260 Appropriations, mandatory (total) 1 108 253
1900 Budget authority (total) 1 108 253
1930 Total budgetary resources available 2 108 253

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 2 1 1
3010 Obligations incurred, unexpired accounts 2 108 253
3020 Outlays (gross) –2 –108 –253
3040 Recoveries of prior year unpaid obligations, unexpired –1



3050 Unpaid obligations, end of year 1 1 1
Memorandum (non-add) entries:
3100 Obligated balance, start of year 2 1 1
3200 Obligated balance, end of year 1 1 1

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 1 108 253
Outlays, gross:
4100 Outlays from new mandatory authority 108 253
4101 Outlays from mandatory balances 2



4110 Outlays, gross (total) 2 108 253
4180 Budget authority, net (total) 1 108 253
4190 Outlays, net (total) 2 108 253

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 extended 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 $435 million over the 2014–2018 period and $555 million over the 2014–2023 period.

Object Classification (in millions of dollars)


Identification code 20–0123–0–1–376 2012 actual 2013 CR 2014 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 1 2 2
25.2 Other services from non-Federal sources 1 1 1
42.0 Projected Insurance claims and indemnities 105 250



99.9 Total new obligations 2 108 253

Employment Summary


Identification code 20–0123–0–1–376 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 6 10 10

Treasury Forfeiture Fund

(cancellation )

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

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5697–0–2–751 2012 actual 2013 CR 2014 est.

0100 Balance, start of year 423 951 952
Receipts:
0200 Forfeited Cash and Proceeds from Sale of Forfeited Property, Treasury Forfeiture Fund 523 1,883 594
0240 Earnings on Investments, Treasury Forfeiture Fund 1 1 1



0299 Total receipts and collections 524 1,884 595



0400 Total: Balances and collections 947 2,835 1,547
Appropriations:
0500 Treasury Forfeiture Fund 950
0501 Treasury Forfeiture Fund –946 –1,883 –594
0502 Treasury Forfeiture Fund –950 –950
0503 Treasury Forfeiture Fund 950



0599 Total appropriations 4 –1,883 –1,544



0799 Balance, end of year 951 952 3

Program and Financing (in millions of dollars)


Identification code 20–5697–0–2–751 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Asset forfeiture fund 527 1,536 716

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 646 145 492
1021 Recoveries of prior year unpaid obligations 30



1050 Unobligated balance (total) 676 145 492
Budget authority:
Appropriations, discretionary:
1130 Appropriations permanently reduced –950
1134 Appropriations precluded from obligation –950



1160 Appropriation, discretionary (total) –950 –950
Appropriations, mandatory:
1201 Appropriation (special or trust fund) 946 1,883 594
1203 Appropriation (previously unavailable) 950 950
1232 Appropriations and/or unobligated balance of appropriations temporarily reduced –950



1260 Appropriations, mandatory (total) –4 2,833 1,544
1900 Budget authority (total) –4 1,883 594
1930 Total budgetary resources available 672 2,028 1,086
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 145 492 370

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 539 550 734
3010 Obligations incurred, unexpired accounts 527 1,536 716
3020 Outlays (gross) –486 –1,352 –824
3040 Recoveries of prior year unpaid obligations, unexpired –30



3050 Unpaid obligations, end of year 550 734 626
Memorandum (non-add) entries:
3100 Obligated balance, start of year 539 550 734
3200 Obligated balance, end of year 550 734 626

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross –950 –950
Outlays, gross:
4010 Outlays from new discretionary authority –475 –475
4011 Outlays from discretionary balances –237



4020 Outlays, gross (total) –475 –712
Mandatory:
4090 Budget authority, gross –4 2,833 1,544
Outlays, gross:
4100 Outlays from new mandatory authority 2 1,417 772
4101 Outlays from mandatory balances 484 410 764



4110 Outlays, gross (total) 486 1,827 1,536
4180 Budget authority, net (total) –4 1,883 594
4190 Outlays, net (total) 486 1,352 824

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 1,585 1,631 1,816
5001 Total investments, EOY: Federal securities: Par value 1,631 1,816 1,960

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 $950 million of unobligated balances.

Object Classification (in millions of dollars)


Identification code 20–5697–0–2–751 2012 actual 2013 CR 2014 est.

Direct obligations:
25.2 Other services from non-Federal sources 162 246 115
25.3 Other goods and services from Federal sources 226 307 143
41.0 Grants, subsidies, and contributions 139 983 458



99.9 Total new obligations 527 1,536 716

Financial Research Fund

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5590–0–2–376 2012 actual 2013 CR 2014 est.

0100 Balance, start of year 51
Receipts:
0200 Fees and Assessments, Financial Research Fund 137 51 113
0201 Transfer from the Federal Reserve, Financial Research Fund 31



0299 Total receipts and collections 168 51 113



0400 Total: Balances and collections 168 51 164
Appropriations:
0500 Financial Research Fund –168



0799 Balance, end of year 51 164

Program and Financing (in millions of dollars)


Identification code 20–5590–0–2–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0002 FSOC 5 9 9
0003 FDIC Payments 5 7 11



0091 FSOC subtotal 10 16 20
0101 OFR 40 78 89



0900 Total new obligations 50 94 109

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 6 125 82
1021 Recoveries of prior year unpaid obligations 1



1050 Unobligated balance (total) 7 125 82
Budget authority:
Appropriations, mandatory:
1200 Appropriation 51 113
1201 Appropriation (special or trust fund) 168



1260 Appropriations, mandatory (total) 168 51 113
1900 Budget authority (total) 168 51 113
1930 Total budgetary resources available 175 176 195
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 125 82 86

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 10 17 19
3010 Obligations incurred, unexpired accounts 50 94 109
3020 Outlays (gross) –42 –92 –126
3040 Recoveries of prior year unpaid obligations, unexpired –1



3050 Unpaid obligations, end of year 17 19 2
Memorandum (non-add) entries:
3100 Obligated balance, start of year 10 17 19
3200 Obligated balance, end of year 17 19 2

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 168 51 113
Outlays, gross:
4100 Outlays from new mandatory authority 34 43
4101 Outlays from mandatory balances 8 92 83



4110 Outlays, gross (total) 42 92 126
4180 Budget authority, net (total) 168 51 113
4190 Outlays, net (total) 42 92 126

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).

The 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 reimbursements of certain reasonable implementation expenses incurred by the Federal Deposit Insurance Corporation (FDIC) in the development of policies, procedures, rules, and regulations and other planning activities consistent with carrying out Orderly Liquidation Authority provided by Title II of the Act. These expenses are to be treated as expenses of the Council, and are estimated at $11 million in 2014.

OFR and the Council were funded through transfers from the Board of Governors of the Federal Reserve System until July 20, 2012. Subsequently, OFR and the Council have been funded through assessments on certain 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 2012 actual 2013 CR 2014 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 8 21 31
12.1 Civilian personnel benefits 2 7 10
21.0 Travel and transportation of persons 1 1
23.1 Rental payments to GSA 3 5 5
23.3 Communications, utilities, and miscellaneous charges 4 2
25.1 Advisory and assistance services 9
25.2 Other services from non-Federal sources 7 18 14
25.3 Other goods and services from Federal sources 13 16 21
26.0 Supplies and materials 3 6 8
31.0 Equipment 5 16 17



99.9 Total new obligations 50 94 109

Employment Summary


Identification code 20–5590–0–2–376 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 60 163 244

Presidential Election Campaign Fund

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5081–0–2–808 2012 actual 2013 CR 2014 est.

0100 Balance, start of year 15
Receipts:
0200 Presidential Election Campaign Fund 37 50 50



0400 Total: Balances and collections 37 50 65
Appropriations:
0500 Presidential Election Campaign Fund –38 –35 –33
Adjustments:
0591 Adjustment - rounding issue 1



0599 Total appropriations –37 –35 –33



0799 Balance, end of year 15 32

Program and Financing (in millions of dollars)


Identification code 20–5081–0–2–808 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0004 Presidential Primary Matching Fund Candidates 2 1

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 197 235 269
Budget authority:
Appropriations, mandatory:
1201 Appropriation (special or trust fund) 38 35 33



1260 Appropriations, mandatory (total) 38 35 33
Spending authority from offsetting collections, mandatory:
1800 Collected 2



1850 Spending auth from offsetting collections, mand (total) 2
1900 Budget authority (total) 40 35 33
1930 Total budgetary resources available 237 270 302
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 235 269 302

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 2 1
3020 Outlays (gross) –2 –1

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 40 35 33
Outlays, gross:
4101 Outlays from mandatory balances 2 1
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123 Non-Federal sources –2
4180 Budget authority, net (total) 38 35 33
4190 Outlays, net (total) 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.

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 2012, this amounted to $91.2 million for each candidate, but neither major party 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. In 2012, $558,500 was paid to each party 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.

Object Classification (in millions of dollars)


Identification code 20–5081–0–2–808 2012 actual 2013 CR 2014 est.

41.0 Direct obligations: Grants, subsidies, and contributions 1
99.0 Reimbursable obligations 2



99.9 Total new obligations 2 1

Pay for Success

The Budget proposes a $300 million one-time mandatory appropriation for a new Pay for Success (PFS) program in the Department of the Treasury. This fund will support nonprofit and other investors who finance preventive social programs when those programs prove that they can post savings to the Federal government and achieve the goal for their target population. The Pay for Success Incentive Fund will ensure that taxpayers get the best possible returns for funds expended, protect government assets, and minimize losses in relation to social benefits provided. It will accomplish this by offering credit enhancements or direct grants to support investors; intermediaries will receive a proportion of the funds saved by the government only when projects have demonstrated measurable outcomes that result in greater federal savings and programmatic efficiency. In order to qualify, these programs will be required to utilize evidence-based approaches and provide data for program and policy evaluation. If successful, the PFS Incentive Fund should help to strengthen intermediaries and support the evolution of this nascent field into a more robust and sustainable public and private market.

Pay for Success

(Legislative proposal, subject to PAYGO)

Program and Financing (in millions of dollars)


Identification code 20–0113–4–1–808 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Pay For Success Programs 41
0002 Administrative Functions 1



0100 Direct program activities, subtotal 42



0900 Total new obligations 42

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 300



1260 Appropriations, mandatory (total) 300
1900 Budget authority (total) 300
1930 Total budgetary resources available 300
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 258

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 42
3020 Outlays (gross) –1



3050 Unpaid obligations, end of year 41
Memorandum (non-add) entries:
3200 Obligated balance, end of year 41

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 300
Outlays, gross:
4100 Outlays from new mandatory authority 1
4180 Budget authority, net (total) 300
4190 Outlays, net (total) 1

Object Classification (in millions of dollars)


Identification code 20–0113–4–1–808 2012 actual 2013 CR 2014 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 1
41.0 Grants, subsidies, and contributions 41



99.9 Total new obligations 42

Employment Summary


Identification code 20–0113–4–1–808 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 4

Exchange Stabilization Fund

Program and Financing (in millions of dollars)


Identification code 20–4444–0–3–155 2012 actual 2013 CR 2014 est.

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 44,641 44,092 44,304
1021 Recoveries of prior year unpaid obligations 714
1026 Adjustment for change in allocation of trust fund limitation or foreign exchange valuation –1,460



1050 Unobligated balance (total) 43,895 44,092 44,304
Budget authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 197 212 221



1850 Spending auth from offsetting collections, mand (total) 197 212 221
1930 Total budgetary resources available 44,092 44,304 44,525
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 44,092 44,304 44,525

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 60,385 59,671 59,671
3040 Recoveries of prior year unpaid obligations, unexpired –714



3050 Unpaid obligations, end of year 59,671 59,671 59,671
Memorandum (non-add) entries:
3100 Obligated balance, start of year 60,385 59,671 59,671
3200 Obligated balance, end of year 59,671 59,671 59,671

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 197 212 221
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4121 Interest on Federal securities –11 –17 –21
4123 Non-Federal sources –186 –195 –200



4130 Offsets against gross budget authority and outlays (total) –197 –212 –221
4170 Outlays, net (mandatory) –197 –212 –221
4190 Outlays, net (total) –197 –212 –221

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 22,721 22,680 22,750
5001 Total investments, EOY: Federal securities: Par value 22,680 22,750 23,000
5010 Total investments, SOY: non-Fed securities: Market value 15,671 15,326 16,000
5011 Total investments, EOY: non-Fed securities: Market value 15,326 16,000 16,500

Under the law creating the Exchange Stabilization Fund (ESF), section 10 of the Gold Reserve Act of 1934, as amended, codified at 31 U.S.C. 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 2013 and 2014 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 2011 actual 2012 actual

ASSETS:
Federal assets: Investments in US securities:
1102 Treasury securities, par 20,436 22,680
1201 Non-Federal assets: Foreign Currency Investments 26,055 25,940
1801 Other Federal assets: Special Drawing Rights 57,439 55,240


1999 Total assets 103,930 103,860
LIABILITIES:
2207 Non-Federal liabilities: Other 60,186 59,671
NET POSITION:
3100 Unexpended appropriations 200 200
3300 Cumulative results of operations 43,544 43,989


3999 Total net position 43,744 44,189


4999 Total liabilities and net position 103,930 103,860

Working Capital Fund

Program and Financing (in millions of dollars)


Identification code 20–4501–0–4–803 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0810 Working capital fund 175 184
0811 Administrative overhead 7



0900 Total new obligations 175 191

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 45 53
1010 Unobligated balance transfer to other accts [20–4560] –34
1021 Recoveries of prior year unpaid obligations 36 36



1050 Unobligated balance (total) 81 55
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 148 136
1701 Change in uncollected payments, Federal sources –1



1750 Spending auth from offsetting collections, disc (total) 147 136
1930 Total budgetary resources available 228 191
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 53

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 95 85 64
3010 Obligations incurred, unexpired accounts 175 191
3020 Outlays (gross) –149 –176 –7
3040 Recoveries of prior year unpaid obligations, unexpired –36 –36



3050 Unpaid obligations, end of year 85 64 57
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –6 –5 –5
3070 Change in uncollected pymts, Fed sources, unexpired 1



3090 Uncollected pymts, Fed sources, end of year –5 –5 –5
Memorandum (non-add) entries:
3100 Obligated balance, start of year 89 80 59
3200 Obligated balance, end of year 80 59 52

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 147 136
Outlays, gross:
4010 Outlays from new discretionary authority 1 129
4011 Outlays from discretionary balances 148 47 7



4020 Outlays, gross (total) 149 176 7
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –148 –136
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired 1
4080 Outlays, net (discretionary) 1 40 7
4190 Outlays, net (total) 1 40 7

The shared 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.

Starting in FY 2014, Treasury Working Capital Fund functions will be moving to the Treasury Franchise Fund.

Object Classification (in millions of dollars)


Identification code 20–4501–0–4–803 2012 actual 2013 CR 2014 est.

Reimbursable obligations:
11.1 Personnel compensation: Full-time permanent 23 29
12.1 Civilian personnel benefits 6 5
13.0 Benefits for former personnel 1
23.1 Rental payments to GSA 3 3
23.3 Communications, utilities, and miscellaneous charges 2 2
25.1 Advisory and assistance services 18 23
25.2 Other services from non-Federal sources 46 55
25.3 Other goods and services from Federal sources 73 67
25.4 Operation and maintenance of facilities 1
25.7 Operation and maintenance of equipment 2 2
31.0 Equipment 2 3



99.9 Total new obligations 175 191

Employment Summary


Identification code 20–4501–0–4–803 2012 actual 2013 CR 2014 est.

2001 Reimbursable civilian full-time equivalent employment 187 192

Treasury Franchise Fund

Program and Financing (in millions of dollars)


Identification code 20–4560–0–4–803 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0802 Financial Management Administrative Support Service 117 115 117
0804 Information Technology Services 151 133 131
0805 Shared Services Division 7
0806 Shared Services Program 183



0900 Total new obligations 268 248 438

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 72 65 110
1011 Unobligated balance transfer from other accts [20–4501] 34
1021 Recoveries of prior year unpaid obligations 4 10 46



1050 Unobligated balance (total) 76 109 156
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 269 249 432
1701 Change in uncollected payments, Federal sources –12



1750 Spending auth from offsetting collections, disc (total) 257 249 432
1930 Total budgetary resources available 333 358 588
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 65 110 150

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 42 55 44
3010 Obligations incurred, unexpired accounts 268 248 438
3020 Outlays (gross) –251 –249 –376
3040 Recoveries of prior year unpaid obligations, unexpired –4 –10 –46



3050 Unpaid obligations, end of year 55 44 60
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –19 –7 –7
3070 Change in uncollected pymts, Fed sources, unexpired 12



3090 Uncollected pymts, Fed sources, end of year –7 –7 –7
Memorandum (non-add) entries:
3100 Obligated balance, start of year 23 48 37
3200 Obligated balance, end of year 48 37 53

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 257 249 432
Outlays, gross:
4010 Outlays from new discretionary authority 224 159 276
4011 Outlays from discretionary balances 27 90 100



4020 Outlays, gross (total) 251 249 376
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –269 –249 –432
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired 12
4080 Outlays, net (discretionary) –18 –56
4190 Outlays, net (total) –18 –56

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.

Starting in FY 2014, Treasury Working Capital Fund functions will be brought into the Treasury Franchise Fund.

Object Classification (in millions of dollars)


Identification code 20–4560–0–4–803 2012 actual 2013 CR 2014 est.

Reimbursable obligations:
Personnel compensation:
11.1 Full-time permanent 87 94 124
11.3 Other than full-time permanent 1
11.5 Other personnel compensation 4 4 5



11.9 Total personnel compensation 92 98 129
12.1 Civilian personnel benefits 28 31 37
13.0 Benefits for former personnel 1
21.0 Travel and transportation of persons 2 1 1
23.1 Rental payments to GSA 3
23.3 Communications, utilities, and miscellaneous charges 4 3 4
25.1 Advisory and assistance services 15 8 31
25.2 Other services from non-Federal sources 16 8 63
25.3 Other goods and services from Federal sources 48 43 112
25.4 Operation and maintenance of facilities 1
25.7 Operation and maintenance of equipment 35 38 39
26.0 Supplies and materials 1 1 1
31.0 Equipment 27 17 16



99.9 Total new obligations 268 248 438

Employment Summary


Identification code 20–4560–0–4–803 2012 actual 2013 CR 2014 est.

2001 Reimbursable civilian full-time equivalent employment 1,160 1,293 1,516

Administrative Expenses, Recovery Act

Program and Financing (in millions of dollars)


Identification code 20–0129–0–1–803 2012 actual 2013 CR 2014 est.

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1
3011 Obligations incurred, expired accounts 1
3020 Outlays (gross) –1
3041 Recoveries of prior year unpaid obligations, expired –1
Memorandum (non-add) entries:
3100 Obligated balance, start of year 1

Budget authority and outlays, net:
Discretionary:
Outlays, gross:
4011 Outlays from discretionary balances 1
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –1
Additional offsets against gross budget authority only:
4052 Offsetting collections credited to expired accounts 1

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.

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 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Direct Program Activity 5,375 8,080 4,710



0900 Total new obligations (object class 41.0) 5,375 8,080 4,710

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1 1
Budget authority:
Appropriations, mandatory:
1200 Appropriation 5,376 8,080 4,710



1260 Appropriations, mandatory (total) 5,376 8,080 4,710
1930 Total budgetary resources available 5,376 8,081 4,711
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1 1 1

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1 294 294
3010 Obligations incurred, unexpired accounts 5,375 8,080 4,710
3020 Outlays (gross) –5,082 –8,080 –4,710



3050 Unpaid obligations, end of year 294 294 294
Memorandum (non-add) entries:
3100 Obligated balance, start of year 1 294 294
3200 Obligated balance, end of year 294 294 294

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 5,376 8,080 4,710
Outlays, gross:
4100 Outlays from new mandatory authority 7,786 4,710
4101 Outlays from mandatory balances 5,082 294



4110 Outlays, gross (total) 5,082 8,080 4,710
4180 Budget authority, net (total) 5,376 8,080 4,710
4190 Outlays, net (total) 5,082 8,080 4,710

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 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 2012 actual 2013 CR 2014 est.

Budgetary Resources:
Unobligated balance:
1021 Recoveries of prior year unpaid obligations 7
1029 Other balances withdrawn –7

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 635 1 1
3020 Outlays (gross) –627
3040 Recoveries of prior year unpaid obligations, unexpired –7



3050 Unpaid obligations, end of year 1 1 1
Memorandum (non-add) entries:
3100 Obligated balance, start of year 635 1 1
3200 Obligated balance, end of year 1 1 1

Budget authority and outlays, net:
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 627
4190 Outlays, net (total) 627

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 EX-3, $224,936,000, to remain available until September 30, 2015; of which $12,000,000 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 $35,000,000 shall be for a Healthy Food Financing Initiative to provide 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 $10,000,000 shall be for the Bank Enterprise Awards program; and of which up to $23,636,000 may be used for administrative expenses, including administration of the New Markets Tax Credit Program and the CDFI Bond Guarantee Program, and up to $300,000 for administrative expenses to carry out the direct loan program; and of which up to $2,222,500 may be used for the cost of direct loans: 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 up to $10,000,000 of the 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.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–1881–0–1–451 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0009 General Administrative Expenses 23 23 24
0012 Financial Assistance 142 141 144
0014 Native American/Hawaiian Program 13 12 12
0026 Healthy Food Initiative 21 20 35
0028 Bank Enterprise Award 22 18 10
0030 Small Business Bond Guarantee 6



0091 Direct program activities, subtotal 227 214 225
Credit program obligations:
0701 Direct loan subsidy 6 8 2
0705 Reestimates of direct loan subsidy 1 1
0706 Interest on reestimates of direct loan subsidy 1



0791 Direct program activities, subtotal 8 9 2



0900 Total new obligations 235 223 227

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 53 38 46
1001 Discretionary unobligated balance brought fwd, Oct 1 52 37
1021 Recoveries of prior year unpaid obligations 3 7 5



1050 Unobligated balance (total) 56 45 51
Budget authority:
Appropriations, discretionary:
1100 Appropriation 221 222 225



1160 Appropriation, discretionary (total) 221 222 225
Appropriations, mandatory:
1200 Appropriation 1 1



1260 Appropriations, mandatory (total) 1 1
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) 223 224 226
1930 Total budgetary resources available 279 269 277
Memorandum (non-add) entries:
1940 Unobligated balance expiring –6
1941 Unexpired unobligated balance, end of year 38 46 50

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 130 176 95
3010 Obligations incurred, unexpired accounts 235 223 227
3020 Outlays (gross) –184 –297 –210
3040 Recoveries of prior year unpaid obligations, unexpired –3 –7 –5
3041 Recoveries of prior year unpaid obligations, expired –2



3050 Unpaid obligations, end of year 176 95 107
Memorandum (non-add) entries:
3100 Obligated balance, start of year 130 176 95
3200 Obligated balance, end of year 176 95 107

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 222 223 226
Outlays, gross:
4010 Outlays from new discretionary authority 28 139 141
4011 Outlays from discretionary balances 156 157 69



4020 Outlays, gross (total) 184 296 210
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4033 Non-Federal sources –1 –1 –1
Mandatory:
4090 Budget authority, gross 1 1
Outlays, gross:
4101 Outlays from mandatory balances 1
4180 Budget authority, net (total) 222 223 225
4190 Outlays, net (total) 183 296 209

Memorandum (non-add) entries:
5010 Total investments, SOY: non-Fed securities: Market value 21 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 2012 actual 2013 CR 2014 est.

Direct loan levels supportable by subsidy budget authority:
115001 Community Development Financial Institutions Prog Fin Assist. 15 25 25
115002 Bond Guarantee Program 1,000



115999 Total direct loan levels 15 25 1,025
Direct loan subsidy (in percent):
132001 Community Development Financial Institutions Prog Fin Assist. 40.26 32.15 8.89
132002 Bond Guarantee Program 0.00 0.00 0.00



132999 Weighted average subsidy rate 40.26 32.15 0.22
Direct loan subsidy budget authority:
133001 Community Development Financial Institutions Prog Fin Assist. 6 8 2



133999 Total subsidy budget authority 6 8 2
Direct loan subsidy outlays:
134001 Community Development Financial Institutions Prog Fin Assist. 7 4



134999 Total subsidy outlays 7 4
Direct loan upward reestimates:
135001 Community Development Financial Institutions Prog Fin Assist. 1 1



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



137999 Total downward reestimate budget authority –4 –1

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 FY 2014 Budget provides funding for the CDFI Fund's merit-based financial and technical assistance programs, including the Healthy Food Financing Initiative, 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 the Bank Enterprise Awards Program, which provides grants to FDIC-insured banks and thrifts that invest in CDFIs and increase their lending and financial services in economically distressed communities. In addition, the Budget proposes to permanently reauthorize the NMTC in 2014, and requests $5 billion of allocation authority per year, as well as authority to offset Alternative Minimum Tax liability. The Budget also proposes a new Manufacturing Communities Tax Credit (MCTC), with $2 billion in tax credit authority in each of three years through 2016. The NMTC allocations will expand the availability of affordable financing for operating businesses and real estate projects in low-income communities (such as renewable energy projects, charter schools, health care centers, manufacturing facilities, and retail centers), and the MCTC will support investments in communities affected by military base closures or mass layoffs.

The CDFI Fund's Bond Guarantee Program, established in the Small Business Jobs Act of 2010 (Public Law 111–240), will support CDFI lending and investment activity by providing a source of long-term capital in low-income and underserved communities. The proceeds of these bonds will help spur job creation among small businesses and entrepreneurs, and provide needed financing for infrastructure development projects such as charter schools and affordable housing. Consistent with the program's authorization, the FY 2014 Budget supports up to $1 billion in aggregate guarantee authority in FY 2014; the Budget also proposes to extend the program's authorization by one year, through FY 2015, at the current total annual guarantee level.

Object Classification (in millions of dollars)


Identification code 20–1881–0–1–451 2012 actual 2013 CR 2014 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 7 8 8
12.1 Civilian personnel benefits 2 2 2
23.1 Rental payments to GSA 1 1 1
25.1 Advisory and assistance services 15 6 11
25.3 Other goods and services from Federal sources 8 2 2
41.0 Grants, subsidies, and contributions 202 204 203



99.9 Total new obligations 235 223 227

Employment Summary


Identification code 20–1881–0–1–451 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 69 79 76

Community Development Financial Institutions Fund Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4088–0–3–451 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 15 25 1,025
0713 Payment of interest to Treasury 2 1 1
0742 Downward reestimate paid to receipt account 2 1
0743 Interest on downward reestimates 1



0900 Total new obligations 20 27 1,026

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 7
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 13 23 1,023



1440 Borrowing authority, mandatory (total) 13 23 1,023
Spending authority from offsetting collections, mandatory:
1800 Collected 8 16 12
1801 Change in uncollected payments, Federal sources 6
1825 Spending authority from offsetting collections applied to repay debt –7 –5 –6



1850 Spending auth from offsetting collections, mand (total) 7 11 6
1900 Financing authority (total) 20 34 1,029
1930 Total budgetary resources available 20 34 1,036
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 7 10

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 15 32
3010 Obligations incurred, unexpired accounts 20 27 1,026
3020 Financing disbursements (gross) –5 –10 –80



3050 Unpaid obligations, end of year 15 32 978
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –6 –6
3070 Change in uncollected pymts, Fed sources, unexpired –6



3090 Uncollected pymts, Fed sources, end of year –6 –6 –6
Memorandum (non-add) entries:
3100 Obligated balance, start of year 9 26
3200 Obligated balance, end of year 9 26 972

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 20 34 1,029
Financing disbursements:
4110 Financing disbursements, gross 5 10 80
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –1 –8 –4
4123 Non-Federal sources - Interest repayments –7 –1 –1
4123 Non-Federal sources - Principal Repayments –7 –7



4130 Offsets against gross financing auth and disbursements (total) –8 –16 –12
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired –6



4160 Financing authority, net (mandatory) 6 18 1,017
4170 Financing disbursements, net (mandatory) –3 –6 68
4180 Financing authority, net (total) 6 18 1,017
4190 Financing disbursements, net (total) –3 –6 68

Status of Direct Loans (in millions of dollars)


Identification code 20–4088–0–3–451 2012 actual 2013 CR 2014 est.

Position with respect to appropriations act limitation on obligations:
1111 Limitation on direct loans 25 25 1,025
1142 Unobligated direct loan limitation (-) –10



1150 Total direct loan obligations 15 25 1,025

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 52 46 50
1231 Disbursements: Direct loan disbursements 10 68
1251 Repayments: Repayments and prepayments –6 –4 –8
1263 Write-offs for default: Direct loans –2 –2



1290 Outstanding, end of year 46 50 108

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 2011 actual 2012 actual

ASSETS:
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 52 46
1405 Allowance for subsidy cost (-) –16 –13


1499 Net present value of assets related to direct loans 36 33


1999 Total assets 36 33
LIABILITIES:
2103 Federal liabilities: Debt 36 33


4999 Total liabilities and net position 36 33

Office of Financial Stability

Program and Financing (in millions of dollars)


Identification code 20–0128–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Direct program activity 262 289 186
0811 Reimbursable program (to GAO) 2 2 2
0812 Reimbursable program (to Treasury and Non-Treasury agencies) 18 15 13



0899 Total reimbursable obligations 20 17 15



0900 Total new obligations 282 306 201

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 323 306 201



1260 Appropriations, mandatory (total) 323 306 201
1930 Total budgetary resources available 323 306 201
Memorandum (non-add) entries:
1940 Unobligated balance expiring –41

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 196 164 61
3010 Obligations incurred, unexpired accounts 282 306 201
3011 Obligations incurred, expired accounts 2
3020 Outlays (gross) –274 –389 –222
3041 Recoveries of prior year unpaid obligations, expired –42 –20



3050 Unpaid obligations, end of year 164 61 40
Memorandum (non-add) entries:
3100 Obligated balance, start of year 196 164 61
3200 Obligated balance, end of year 164 61 40

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 323 306 201
Outlays, gross:
4100 Outlays from new mandatory authority 161 245 161
4101 Outlays from mandatory balances 113 144 61



4110 Outlays, gross (total) 274 389 222
4180 Budget authority, net (total) 323 306 201
4190 Outlays, net (total) 274 389 222

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 2012 actual 2013 CR 2014 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 20 20 15
12.1 Civilian personnel benefits 6 5 5
21.0 Travel and transportation of persons 1 1 1
25.2 Other services from non-Federal sources 236 263 165



99.0 Direct obligations 263 289 186
99.0 Reimbursable obligations 19 17 15



99.9 Total new obligations 282 306 201

Employment Summary


Identification code 20–0128–0–1–376 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 172 161 126
2001 Reimbursable civilian full-time equivalent employment 2 2 2

Troubled Asset Relief Program Account

Program and Financing (in millions of dollars)


Identification code 20–0132–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0705 Reestimates of direct loan subsidy 4,890
0706 Interest on reestimates of direct loan subsidy 2,932 43
0707 Reestimates of loan guarantee subsidy 28
0708 Interest on reestimates of loan guarantee subsidy 8



0900 Total new obligations (object class 41.0) 7,858 43

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 7,858 43



1260 Appropriations, mandatory (total) 7,858 43
1930 Total budgetary resources available 7,858 43

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 134 43
3010 Obligations incurred, unexpired accounts 7,858 43
3020 Outlays (gross) –7,858 –43
3041 Recoveries of prior year unpaid obligations, expired –91 –43



3050 Unpaid obligations, end of year 43
Memorandum (non-add) entries:
3100 Obligated balance, start of year 134 43
3200 Obligated balance, end of year 43

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 7,858 43
Outlays, gross:
4100 Outlays from new mandatory authority 7,858 43
4180 Budget authority, net (total) 7,858 43
4190 Outlays, net (total) 7,858 43

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


Identification code 20–0132–0–1–376 2012 actual 2013 CR 2014 est.

Direct loan subsidy outlays:
134004 Legacy Securities Public-Private Investment Program –87



134999 Total subsidy outlays –87
Direct loan upward reestimates:
135001 Automotive Industry Financing Program 7,590
135003 Small Business Lending Initiative—7(a) purchases 1
135004 Legacy Securities Public-Private Investment Program 232 42



135999 Total upward reestimate budget authority 7,822 43
Direct loan downward reestimates:
137001 Automotive Industry Financing Program –1,433 –3,036
137002 Term-Asset Backed Securities Loan Facility (TALF) –131 –109
137003 Small Business Lending Initiative—7(a) purchases –4 –2
137004 Legacy Securities Public-Private Investment Program –70 –192



137999 Total downward reestimate budget authority –1,638 –3,339
Guaranteed loan upward reestimates:
235001 Asset Guarantee Program 36



235999 Total upward reestimate budget authority 36
Guaranteed loan downward reestimates:
237001 Asset Guarantee Program –204



237999 Total downward reestimate subsidy budget authority –204

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 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 790 2,362 1,247
0739 Disposition Fees 7
0742 Downward reestimate paid to receipt account 1,556 1,862
0743 Interest on downward reestimates 83 1,477



0900 Total new obligations 2,429 5,708 1,247

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 7,682 1,376
1021 Recoveries of prior year unpaid obligations 6,114 4,650
1023 Unobligated balances applied to repay debt –6,440 –3,415
1024 Unobligated balance of borrowing authority withdrawn –5,832 –2,611



1050 Unobligated balance (total) 1,524
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 156 3,564 35



1440 Borrowing authority, mandatory (total) 156 3,564 35
Spending authority from offsetting collections, mandatory:
1800 Offsetting collections 13,883 15,847 7,406
1801 Change in uncollected payments, Federal sources –91 –43
1825 Spending authority from offsetting collections applied to repay debt –11,667 –13,660 –6,194



1850 Spending auth from offsetting collections, mand (total) 2,125 2,144 1,212
1900 Financing authority (total) 2,281 5,708 1,247
1930 Total budgetary resources available 3,805 5,708 1,247
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1,376

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 11,654 4,650
3010 Obligations incurred, unexpired accounts 2,429 5,708 1,247
3020 Financing disbursements (gross) –3,319 –5,708 –1,247
3040 Recoveries of prior year unpaid obligations, unexpired –6,114 –4,650



3050 Unpaid obligations, end of year 4,650
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –134 –43
3070 Change in uncollected pymts, Fed sources, unexpired 91 43



3090 Uncollected pymts, Fed sources, end of year –43
Memorandum (non-add) entries:
3100 Obligated balance, start of year 11,520 4,607
3200 Obligated balance, end of year 4,607

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 2,281 5,708 1,247
Financing disbursements:
4110 Financing disbursements, gross 3,319 5,708 1,247
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –7,822 –43
4122 Interest on uninvested funds –223 –424 –623
4123 Principal –5,704 –5,535 –150
4123 Interest –125 –20
4123 Warrants –9,825 –6,633
4123 Sale of Stock –9



4130 Offsets against gross financing auth and disbursements (total) –13,883 –15,847 –7,406
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 91 43



4160 Financing authority, net (mandatory) –11,511 –10,096 –6,159
4170 Financing disbursements, net (mandatory) –10,564 –10,139 –6,159
4180 Financing authority, net (total) –11,511 –10,096 –6,159
4190 Financing disbursements, net (total) –10,564 –10,139 –6,159

Status of Direct Loans (in millions of dollars)


Identification code 20–4277–0–3–376 2012 actual 2013 CR 2014 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 11,538 6,634 1,099
1231 Disbursements: Direct loan disbursements 803
1251 Repayments: Repayments and prepayments –5,704 –5,535 –150
1264 Write-offs for default: Other adjustments, net (+ or -) –3



1290 Outstanding, end of year 6,634 1,099 949

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 2011 actual 2012 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 10,759 3,372
Investments in US securities:
1106 Receivables, net 8,043
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 22,653 22,653
1401 Direct loans receivable, gross 11,538 6,634
1405 Allowance for subsidy cost (-) –2,964 –7,115
1405 Allowance for subsidy cost (-) –9,150 –4,252


1499 Net present value of assets related to direct loans 22,077 17,920


1999 Total assets 40,879 21,292
LIABILITIES:
Federal liabilities:
2104 Resources payable to Treasury 39,243 21,292
2105 Other 1,636


2999 Total upward reestimate subsidy BA [20–0132] 40,879 21,292


4999 Total liabilities and net position 40,879 21,292

Troubled Assets Insurance Financing Fund Guaranteed Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4276–0–3–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 23 50
0742 Downward reestimate paid to receipt account 159
0743 Interest on downward reestimates 45



0900 Total new obligations 23 254

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 60 2
1023 Unobligated balances applied to repay debt –60



1050 Unobligated balance (total) 2
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 38 1,012
1825 Spending authority from offsetting collections applied to repay debt –13 –760



1850 Spending auth from offsetting collections, mand (total) 25 252
1900 Financing authority (total) 25 252
1930 Total budgetary resources available 25 254
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 2

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 23 254
3020 Financing disbursements (gross) –23 –254

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 25 252
Financing disbursements:
4110 Financing disbursements, gross 23 254
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –36
4122 Interest on uninvested funds –2 –29
4123 Dividends –983



4130 Offsets against gross financing auth and disbursements (total) –38 –1,012



4160 Financing authority, net (mandatory) –13 –760
4170 Financing disbursements, net (mandatory) –15 –758
4180 Financing authority, net (total) –13 –760
4190 Financing disbursements, net (total) –15 –758

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 2011 actual 2012 actual

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


1999 Total assets 833 833
LIABILITIES:
2103 Federal liabilities: Debt 833 833


4999 Total liabilities and net position 833 833

Troubled Asset Relief Program Equity Purchase Program

Program and Financing (in millions of dollars)


Identification code 20–0134–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0703 Subsidy for modifications of direct loans 974
0705 Reestimates of direct loan subsidy 14,724 340
0706 Interest on reestimates of direct loan subsidy 3,714 101



0900 Total new obligations (object class 41.0) 19,412 441

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 19,412 441



1260 Appropriations, mandatory (total) 19,412 441
1930 Total budgetary resources available 19,412 441

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 362 306
3010 Obligations incurred, unexpired accounts 19,412 441
3020 Outlays (gross) –19,468 –441
3041 Recoveries of prior year unpaid obligations, expired –306



3050 Unpaid obligations, end of year 306
Memorandum (non-add) entries:
3100 Obligated balance, start of year 362 306
3200 Obligated balance, end of year 306

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 19,412 441
Outlays, gross:
4100 Outlays from new mandatory authority 19,412 441
4101 Outlays from mandatory balances 56



4110 Outlays, gross (total) 19,468 441
4180 Budget authority, net (total) 19,412 441
4190 Outlays, net (total) 19,468 441

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


Identification code 20–0134–0–1–376 2012 actual 2013 CR 2014 est.

Direct loan subsidy outlays:
134001 Capital Purchase Program 973
134005 Legacy Securities Public-Private Investment Program 56



134999 Total subsidy outlays 1,029
Direct loan upward reestimates:
135002 AIG Investments 14,644
135004 Automotive Industry Financing Program (Equity) 3,794
135005 Legacy Securities Public-Private Investment Program 441



135999 Total upward reestimate budget authority 18,438 441
Direct loan downward reestimates:
137001 Capital Purchase Program –1,825 –1,846
137002 AIG Investments –7,125
137004 Automotive Industry Financing Program (Equity) –468
137005 Legacy Securities Public-Private Investment Program –2,375
137006 Community Development Capital Initiative –137 –13



137999 Total downward reestimate budget authority –4,337 –9,452

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 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 1,439 2,493 1,529
0739 Disposition Fees 20 20
0742 Downward reestimate paid to receipt account 3,504 7,453
0743 Interest on downward reestimates 833 1,999



0900 Total new obligations 5,796 11,965 1,529

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 13,400 16,242
1021 Recoveries of prior year unpaid obligations 1,276
1023 Unobligated balances applied to repay debt –13,400 –15,386



1050 Unobligated balance (total) 2,132
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 2,502 3,694



1440 Borrowing authority, mandatory (total) 2,502 3,694
Spending authority from offsetting collections, mandatory:
1800 Collected 67,339 15,185 6,906
1801 Change in uncollected payments, Federal sources –56 –306
1825 Spending authority from offsetting collections applied to repay debt –47,747 –8,740 –5,377



1850 Spending auth from offsetting collections, mand (total) 19,536 6,139 1,529
1900 Financing authority (total) 22,038 9,833 1,529
1930 Total budgetary resources available 22,038 11,965 1,529
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 16,242

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1,504 1,276
3010 Obligations incurred, unexpired accounts 5,796 11,965 1,529
3020 Financing disbursements (gross) –6,024 –11,965 –1,529
3040 Recoveries of prior year unpaid obligations, unexpired –1,276



3050 Unpaid obligations, end of year 1,276
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –362 –306
3070 Change in uncollected pymts, Fed sources, unexpired 56 306



3090 Uncollected pymts, Fed sources, end of year –306
Memorandum (non-add) entries:
3100 Obligated balance, start of year 1,142 970
3200 Obligated balance, end of year 970

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 22,038 9,833 1,529
Financing disbursements:
4110 Financing disbursements, gross 6,024 11,965 1,529
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –19,468 –441
4122 Interest on uninvested funds –380 –615 –435
4123 Dividends –2,816 –271 –142
4123 Warrants –481 –1,529 –1,073
4123 Redemption –44,194 –12,329 –5,256



4130 Offsets against gross financing auth and disbursements (total) –67,339 –15,185 –6,906
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 56 306



4160 Financing authority, net (mandatory) –45,245 –5,046 –5,377
4170 Financing disbursements, net (mandatory) –61,315 –3,220 –5,377
4180 Financing authority, net (total) –45,245 –5,046 –5,377
4190 Financing disbursements, net (total) –61,315 –3,220 –5,377

Status of Direct Loans (in millions of dollars)


Identification code 20–4278–0–3–376 2012 actual 2013 CR 2014 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 88,214 33,786 18,444
1231 Disbursements: Direct loan disbursements 245
1251 Repayments: Repayments and prepayments –44,194 –12,329 –5,256
Write-offs for default:
1263 Direct loans –3,013 –3,930
1264 Other adjustments, net (+ or -) –10,479



1290 Outstanding, end of year 33,786 18,444 9,258

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 2011 actual 2012 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 14,542 17,212
Investments in US securities:
1106 Receivables, net 19,808
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 43,416 33,786
1401 Direct loans receivable, gross 44,798
1405 Allowance for subsidy cost (-) –9,461
1405 Allowance for subsidy cost (-) –20,726 –20,221


1499 Net present value of assets related to direct loans 22,690 13,565


1999 Total assets 57,040 30,777
LIABILITIES:
Federal liabilities:
2103 Debt 89,421 30,776
2105 Other 2,956 1


2999 Total liabilities 92,377 30,777

Troubled Asset Relief Program, Housing Programs

Program and Financing (in millions of dollars)


Identification code 20–0136–0–1–604 2012 actual 2013 CR 2014 est.

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 43,122 40,035 19,988
3020 Outlays (gross) –3,074 –13,146 –7,770
3041 Recoveries of prior year unpaid obligations, expired –13 –6,901



3050 Unpaid obligations, end of year 40,035 19,988 12,218
Memorandum (non-add) entries:
3100 Obligated balance, start of year 43,122 40,035 19,988
3200 Obligated balance, end of year 40,035 19,988 12,218

Budget authority and outlays, net:
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 3,074 13,146 7,770
4190 Outlays, net (total) 3,074 13,146 7,770

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


Identification code 20–0136–0–1–604 2012 actual 2013 CR 2014 est.

Guaranteed loan levels supportable by subsidy budget authority:
215001 FHA Refi Letter of Credit 234 5,229



215999 Total loan guarantee levels 234 5,229
Guaranteed loan subsidy (in percent):
232001 FHA Refi Letter of Credit 4.00 2.48 0.00



232999 Weighted average subsidy rate 4.00 2.48 0.00
Guaranteed loan subsidy budget authority:
233001 FHA Refi Letter of Credit 9 129



233999 Total subsidy budget authority 9 129
Guaranteed loan subsidy outlays:
234001 FHA Refi Letter of Credit 9 129



234999 Total subsidy outlays 9 129

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 1.9 million borrowers have been offered trial modifications under MHA, and more than 1.1 million 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 2014, no costs are ascribed to new FHA guarantees made under this program due to sufficient estimated fees charged by FHA to cover expected losses. For more details, please see the Financial Stabilization Efforts and Their Budgetary Effects chapter in the Analytical Perspectives volume.

Troubled Asset Relief Program, Housing Programs, Letter of Credit Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4329–0–3–371 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0711 Default claim payments on principal 1 6
0713 Payment of interest to Treasury 1



0900 Total new obligations 1 7

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1 11 139
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 10 129



1850 Spending auth from offsetting collections, mand (total) 10 129
1930 Total budgetary resources available 11 140 139
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 11 139 132

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 1 7
3020 Financing disbursements (gross) –1 –7

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 10 129
Financing disbursements:
4110 Financing disbursements, gross 1 7
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –9 –129
4122 Interest on uninvested funds –1



4130 Offsets against gross financing auth and disbursements (total) –10 –129
4170 Financing disbursements, net (mandatory) –10 –128 7
4190 Financing disbursements, net (total) –10 –128 7

Status of Guaranteed Loans (in millions of dollars)


Identification code 20–4329–0–3–371 2012 actual 2013 CR 2014 est.

Position with respect to appropriations act limitation on commitments:
2131 Guaranteed loan commitments exempt from limitation 234 5,229



2150 Total guaranteed loan commitments 234 5,229

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 73 307 5,535
2231 Disbursements of new guaranteed loans 234 5,229
2263 Adjustments: Terminations for default that result in claim payments –1 –6



2290 Outstanding, end of year 307 5,535 5,529

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 41

Balance Sheet (in millions of dollars)


Identification code 20–4329–0–3–371 2011 actual 2012 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 1 11


1999 Total assets 1 11
LIABILITIES:
2204 Non-Federal liabilities: Liabilities for loan guarantees 1 11


4999 Total liabilities and net position 1 11

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), $34,923,000.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0133–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Direct program activity 40 44 45

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 34 35 33
1021 Recoveries of prior year unpaid obligations 1



1050 Unobligated balance (total) 35 35 33
Budget authority:
Appropriations, discretionary:
1100 Appropriation 42 42 35



1160 Appropriation, discretionary (total) 42 42 35
1900 Budget authority (total) 42 42 35
1930 Total budgetary resources available 77 77 68
Memorandum (non-add) entries:
1940 Unobligated balance expiring –2
1941 Unexpired unobligated balance, end of year 35 33 23

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 10 10 9
3010 Obligations incurred, unexpired accounts 40 44 45
3020 Outlays (gross) –39 –45 –46
3040 Recoveries of prior year unpaid obligations, unexpired –1



3050 Unpaid obligations, end of year 10 9 8
Memorandum (non-add) entries:
3100 Obligated balance, start of year 10 10 9
3200 Obligated balance, end of year 10 9 8

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 42 42 35
Outlays, gross:
4010 Outlays from new discretionary authority 33 34 28
4011 Outlays from discretionary balances 5 7 8



4020 Outlays, gross (total) 38 41 36
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 1 4 10
4180 Budget authority, net (total) 42 42 35
4190 Outlays, net (total) 39 45 46

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 only agency solely charged with the 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 2014, SIGTARP will continue to design and conduct programmatic audits of 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 directed 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 2012 actual 2013 CR 2014 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 19 20 22
11.5 Other personnel compensation 1 2 2



11.9 Total personnel compensation 20 22 24
12.1 Civilian personnel benefits 5 6 6
21.0 Travel and transportation of persons 1 1 1
25.1 Advisory and assistance services 3 4 3
25.2 Other services from non-Federal sources 1 1 1
25.3 Other goods and services from Federal sources 8 8 8
26.0 Supplies and materials 1 1 1
31.0 Equipment 1 1 1



99.9 Total new obligations 40 44 45

Employment Summary


Identification code 20–0133–0–1–376 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 164 192 192

Small Business Lending Fund Program Account

Program and Financing (in millions of dollars)


Identification code 20–0141–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0705 Reestimates of direct loan subsidy 32
0706 Interest on reestimates of direct loan subsidy 1
0709 Administrative expenses 22 25 20



0900 Total new obligations 22 58 20

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 22 58 20



1260 Appropriations, mandatory (total) 22 58 20
1930 Total budgetary resources available 22 58 20

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 18 17 1
3010 Obligations incurred, unexpired accounts 22 58 20
3020 Outlays (gross) –23 –74 –20



3050 Unpaid obligations, end of year 17 1 1
Memorandum (non-add) entries:
3100 Obligated balance, start of year 18 17 1
3200 Obligated balance, end of year 17 1 1

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 22 58 20
Outlays, gross:
4100 Outlays from new mandatory authority 14 58 20
4101 Outlays from mandatory balances 9 16



4110 Outlays, gross (total) 23 74 20
4180 Budget authority, net (total) 22 58 20
4190 Outlays, net (total) 23 74 20

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


Identification code 20–0141–0–1–376 2012 actual 2013 CR 2014 est.

Direct loan upward reestimates:
135001 Small Business Lending Fund Investments 34



135999 Total upward reestimate budget authority 34
Direct loan downward reestimates:
137001 Small Business Lending Fund Investments –376



137999 Total downward reestimate budget authority –376

Administrative expense data:
3510 Budget authority 26 25 20
3580 Outlays from balances 9 14
3590 Outlays from new authority 14 25 20

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 $20 million for 2014.

Object Classification (in millions of dollars)


Identification code 20–0141–0–1–376 2012 actual 2013 CR 2014 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
25.2 Other services from non-Federal sources 12 18 13
25.3 Other goods and services from Federal sources 5 3 3
41.0 Grants, subsidies, and contributions 32
43.0 Interest and dividends 1



99.9 Total new obligations 22 58 20

Employment Summary


Identification code 20–0141–0–1–376 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 27 28 25

Small Business Lending Fund Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4349–0–3–376 2012 actual 2013 CR 2014 est.

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



0900 Total new obligations 462 86 76

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 78
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 376



1440 Borrowing authority, mandatory (total) 376
Spending authority from offsetting collections, mandatory:
1800 Collected 164 975 457
1825 Spending authority from offsetting collections applied to repay debt –967 –381



1850 Spending auth from offsetting collections, mand (total) 164 8 76
1900 Financing authority (total) 540 8 76
1930 Total budgetary resources available 540 86 76
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 78

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 462 86 76
3020 Financing disbursements (gross) –462 –86 –76

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 540 8 76
Financing disbursements:
4110 Financing disbursements, gross 462 86 76
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources - Upward Reestimates –34
4122 Interest on uninvested funds –2 –11 –1
4123 Non-Federal sources - Principal –48 –842 –387
4123 Non-Federal sources - Dividends –114 –88 –69



4130 Offsets against gross financing auth and disbursements (total) –164 –975 –457



4160 Financing authority, net (mandatory) 376 –967 –381
4170 Financing disbursements, net (mandatory) 298 –889 –381
4180 Financing authority, net (total) 376 –967 –381
4190 Financing disbursements, net (total) 298 –889 –381

Status of Direct Loans (in millions of dollars)


Identification code 20–4349–0–3–376 2012 actual 2013 CR 2014 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 4,028 3,980 3,132
1251 Repayments: Repayments and prepayments –48 –842 –387
1263 Write-offs for default: Direct loans –6 –13



1290 Outstanding, end of year 3,980 3,132 2,732

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 2011 actual 2012 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 78
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 4,028 3,980
1405 Allowance for subsidy cost (-) 80 54


1499 Net present value of assets related to direct loans 4,108 4,034


1999 Total assets 4,108 4,112
LIABILITIES:
Federal liabilities:
2103 Debt 3,737 4,112
2105 Other 371


2999 Total liabilities 4,108 4,112


4999 Total liabilities and net position 4,108 4,112

State Small Business Credit Initiative

Program and Financing (in millions of dollars)


Identification code 20–0142–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Administrative Costs 5 7 8
0002 Direct program activity 188 13



0900 Total new obligations 193 20 8

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 236 43 26
1021 Recoveries of prior year unpaid obligations 3



1050 Unobligated balance (total) 236 46 26
1930 Total budgetary resources available 236 46 26
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 43 26 18

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 899 920 386
3010 Obligations incurred, unexpired accounts 193 20 8
3020 Outlays (gross) –172 –551 –380
3040 Recoveries of prior year unpaid obligations, unexpired –3



3050 Unpaid obligations, end of year 920 386 14
Memorandum (non-add) entries:
3100 Obligated balance, start of year 899 920 386
3200 Obligated balance, end of year 920 386 14

Budget authority and outlays, net:
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 172 551 380
4190 Outlays, net (total) 172 551 380

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 and investing to help finance small businesses and manufacturers that are creditworthy, but are having difficulty securing the loans or investments 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 2012, Treasury approved $137 million for disbursement to approved applicants and cumulatively through September 30, 2012, SSBCI approved disbursements of $553 million of the $1.46 billion apportioned to States. SSBCI estimates disbursing cumulative totals of approximately $1.1 billion by the end of fiscal year 2013 and the remaining $360 million by the end of fiscal year 2014. In addition, in order to maximize participation in and the effectiveness of the program, SSBCI expects to spend approximately $2 million in 2013 and 2014 on dedicated technical assistance to States as they implement these programs and deploy funds to eligible small business.

Object Classification (in millions of dollars)


Identification code 20–0142–0–1–376 2012 actual 2013 CR 2014 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 2 2 3
25.1 Advisory and assistance services 1 3 3
25.3 Other goods and services from Federal sources 2 2 2
41.0 Grants, subsidies, and contributions 188 13



99.9 Total new obligations 193 20 8

Employment Summary


Identification code 20–0142–0–1–376 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 9 12 12

GSE Preferred Stock Purchase Agreements

Program and Financing (in millions of dollars)


Identification code 20–0125–0–1–371 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Direct program activity 18,519



0900 Total new obligations (object class 33.0) 18,519

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 231,034 212,515 265,881
Budget authority:
Appropriations, mandatory:
1200 Appropriation 53,366



1260 Appropriations, mandatory (total) 53,366
1930 Total budgetary resources available 231,034 265,881 265,881
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 212,515 265,881 265,881

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 18,519
3020 Outlays (gross) –18,519

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 53,366
Outlays, gross:
4101 Outlays from mandatory balances 18,519
4180 Budget authority, net (total) 53,366
4190 Outlays, net (total) 18,519

In 2008, under temporary authority granted by Section 1117 of the Housing and Economic Recovery Act of 2008 (P.L. 110–289), Treasury entered into agreements with Fannie Mae and Freddie Mac (the "GSEs") to purchase senior preferred stock of each GSE and to transfer up to $100 billion in funds when needed to ensure that each company maintains a positive net worth. In May 2009, Treasury increased the Preferred Stock Purchase Agreement (PSPA) funding commitment caps to $200 billion for each GSE, and in December 2009 Treasury modified the funding commitment caps in the PSPAs to be 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 purchase obligations or other securities of the GSEs or to increase the funding commitment expired on December 31, 2009. As of December 31, 2012, Treasury had made payments of $187.5 billion under the PSPAs and received $55.2 billion in scheduled dividend payments.

GSE Mortgage-Backed Securities Purchase Program Account

Program and Financing (in millions of dollars)


Identification code 20–0126–0–1–371 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0010 Financial Agent Services 21 11 10
Credit program obligations:
0705 Reestimates of direct loan subsidy 105 432
0706 Interest on reestimates of direct loan subsidy 32 105



0791 Direct program activities, subtotal 137 537



0900 Total new obligations 158 548 10

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 143 537
1221 Appropriations transferred from other accts [20–1802] 15 11 10



1260 Appropriations, mandatory (total) 158 548 10
1930 Total budgetary resources available 158 548 10

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 4 10 12
3010 Obligations incurred, unexpired accounts 158 548 10
3020 Outlays (gross) –152 –546 –10



3050 Unpaid obligations, end of year 10 12 12
Memorandum (non-add) entries:
3100 Obligated balance, start of year 4 10 12
3200 Obligated balance, end of year 10 12 12

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 158 548 10
Outlays, gross:
4100 Outlays from new mandatory authority 148 537 10
4101 Outlays from mandatory balances 4 9



4110 Outlays, gross (total) 152 546 10
4180 Budget authority, net (total) 158 548 10
4190 Outlays, net (total) 152 546 10

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


Identification code 20–0126–0–1–371 2012 actual 2013 CR 2014 est.

Direct loan subsidy outlays:
134002 New Issue Bond Program SF –172
134003 New Issue Bond Program MF –14



134999 Total subsidy outlays –186
Direct loan upward reestimates:
135001 GSE MBS Purchases 55
135002 New Issue Bond Program SF 24 461
135003 New Issue Bond Program MF 113 21



135999 Total upward reestimate budget authority 137 537
Direct loan downward reestimates:
137001 GSE MBS Purchases –7,457 –760
137002 New Issue Bond Program SF –141



137999 Total downward reestimate budget authority –7,598 –760

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. Treasury completed the orderly disposition of its MBS portfolio on March 19, 2012.

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 2012 actual 2013 CR 2014 est.

Direct obligations:
25.1 Advisory and assistance services 21 11 10
41.0 Grants, subsidies, and contributions 137 537



99.9 Total new obligations 158 548 10

GSE Mortgage-Backed Securities Purchase Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4272–0–3–371 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 1,055
0742 Downward reestimate paid to receipt account 7,039 752
0743 Interest on downward reestimates 418 8



0900 Total new obligations 8,512 760

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 7,397 705
1023 Unobligated balances applied to repay debt –7,397



1050 Unobligated balance (total) 705
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 7,457



1440 Borrowing authority, mandatory (total) 7,457
Spending authority from offsetting collections, mandatory:
1800 Collected 73,710 55
1825 Spending authority from offsetting collections applied to repay debt –71,950



1850 Spending auth from offsetting collections, mand (total) 1,760 55
1900 Financing authority (total) 9,217 55
1930 Total budgetary resources available 9,217 760
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 705

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 760
3010 Obligations incurred, unexpired accounts 8,512 760
3020 Financing disbursements (gross) –8,512



3050 Unpaid obligations, end of year 760 760
Memorandum (non-add) entries:
3100 Obligated balance, start of year 760
3200 Obligated balance, end of year 760 760

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 9,217 55
Financing disbursements:
4110 Financing disbursements, gross 8,512
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –55
4122 Interest on uninvested funds –524
4123 Non-Federal sources- Interest –2,601
4123 Non-Federal sources - Principal –70,585



4130 Offsets against gross financing auth and disbursements (total) –73,710 –55



4160 Financing authority, net (mandatory) –64,493
4170 Financing disbursements, net (mandatory) –65,198 –55
4180 Financing authority, net (total) –64,493
4190 Financing disbursements, net (total) –65,198 –55

Status of Direct Loans (in millions of dollars)


Identification code 20–4272–0–3–371 2012 actual 2013 CR 2014 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 70,586
1251 Repayments: Repayments and prepayments –70,586



1290 Outstanding, end of year

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 2011 actual 2012 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 7,397 705
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 70,586
1405 Allowance for subsidy cost (-) 1,831


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


1999 Total assets 79,814 705
LIABILITIES:
Federal liabilities:
2103 Debt 71,890
2105 Other Liabilities without Related Budgetary Obligations 7,924 705


2999 Total liabilities 79,814 705


4999 Total liabilities and net position 79,814 705

State HFA Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4298–0–3–371 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 564 477 419
0741 Modification savings 373
0742 Downward reestimate paid to receipt account 141



0900 Total new obligations 1,078 477 419

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 31 377 425
1021 Recoveries of prior year unpaid obligations 2,884
1023 Unobligated balances applied to repay debt –150
1024 Unobligated balance of borrowing authority withdrawn –2,688



1050 Unobligated balance (total) 77 377 425
Financing authority:
Appropriations, mandatory:
1200 Appropriation 113 16
1236 Appropriations applied to repay debt –113 –16
Borrowing authority, mandatory:
1400 Borrowing authority 514 47



1440 Borrowing authority, mandatory (total) 514 47
Spending authority from offsetting collections, mandatory:
1800 Collected 1,972 2,567 1,216
1801 Change in uncollected payments, Federal sources 6
1825 Spending authority from offsetting collections applied to repay debt –1,114 –2,089 –797



1850 Spending auth from offsetting collections, mand (total) 864 478 419
1900 Financing authority (total) 1,378 525 419
1930 Total budgetary resources available 1,455 902 844
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 377 425 425

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 7,118 4,421 4,421
3010 Obligations incurred, unexpired accounts 1,078 477 419
3020 Financing disbursements (gross) –891 –477 –419
3040 Recoveries of prior year unpaid obligations, unexpired –2,884



3050 Unpaid obligations, end of year 4,421 4,421 4,421
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –6 –6
3070 Change in uncollected pymts, Fed sources, unexpired –6



3090 Uncollected pymts, Fed sources, end of year –6 –6 –6
Memorandum (non-add) entries:
3100 Obligated balance, start of year 7,118 4,415 4,415
3200 Obligated balance, end of year 4,415 4,415 4,415

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 1,378 525 419
Financing disbursements:
4110 Financing disbursements, gross 891 477 419
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –137 –482
4122 Interest on uninvested funds –45 –35 –17
4123 Non-Federal sources - Interest –1,790 –359 –348
4123 Non-Federal sources - Principal –1,664 –833
4123 Non-Federal sources - Other –27 –18



4130 Offsets against gross financing auth and disbursements (total) –1,972 –2,567 –1,216
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired –6



4160 Financing authority, net (mandatory) –600 –2,042 –797
4170 Financing disbursements, net (mandatory) –1,081 –2,090 –797
4180 Financing authority, net (total) –600 –2,042 –797
4190 Financing disbursements, net (total) –1,081 –2,090 –797

Status of Direct Loans (in millions of dollars)


Identification code 20–4298–0–3–371 2012 actual 2013 CR 2014 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 15,143 13,683 12,019
1231 Disbursements: Direct loan disbursements
1251 Repayments: Repayments and prepayments –1,460 –1,664 –833



1290 Outstanding, end of year 13,683 12,019 11,186

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 2011 actual 2012 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 515 658
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 15,143 13,683
1405 Allowance for subsidy cost (-) –670 –539


1499 Net present value of assets related to direct loans 14,473 13,144


1999 Total assets 14,988 13,802
LIABILITIES:
2103 Federal liabilities: Debt 14,988 13,802


4999 Total liabilities and net position 14,988 13,802

Trust Funds

Capital Magnet Fund, Community Develpment Financial Institutions

Program and Financing (in millions of dollars)


Identification code 20–8524–0–7–451 2012 actual 2013 CR 2014 est.

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 5
3020 Outlays (gross) –5
Memorandum (non-add) entries:
3100 Obligated balance, start of year 5

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

All CMF funds were disbursed in FY 2012, and the program has not received additional appropriations or deposits since its inception in FY 2010. In FY 2013, the CDFI Fund will baseline awardee performance reporting. Pursuant to the program's assistance agreements, awardees are required in the first five years to report on leveraging and use of CMF dollars, and once the funds are fully deployed, are required to report annually the number of affordable housing units developed, the number and percentage of low-income renters or owners, and the number and percentage of very low-income renters or owners.

Gifts and Bequests

Program and Financing (in millions of dollars)


Identification code 20–8790–0–7–803 2012 actual 2013 CR 2014 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 U.S.C. 321 to receive gifts and bequests to the Department. These funds support the restoration of the Treasury building and historical collection of art, furniture, and artifacts owned by the Department. Recent Treasury building gifts have funded the restoration of the trompe l'oeil wall decoration, the Cash Room ceiling, the monumental West Dome, and the West Lobby finishes and chandelier. The fund is also used as an endowment for Treasury's restored rooms.

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 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, $103,909,000, of which not to exceed $34,335,000 shall remain available until September 30, 2016: Provided, That funds appropriated in this account may be used to procure personal services contracts.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 20–0173–0–1–751 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 BSA administration and Analysis 109 111 104
0002 Regulatory support programs, including money services businesses 1



0799 Total direct obligations 110 111 104
0801 Reimbursable program 8 3 3



0900 Total new obligations 118 114 107

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 31 31 31
Budget authority:
Appropriations, discretionary:
1100 Appropriation 111 111 104



1160 Appropriation, discretionary (total) 111 111 104
Spending authority from offsetting collections, discretionary:
1700 Collected 2 3 3
1701 Change in uncollected payments, Federal sources 6



1750 Spending auth from offsetting collections, disc (total) 8 3 3
1900 Budget authority (total) 119 114 107
1930 Total budgetary resources available 150 145 138
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1
1941 Unexpired unobligated balance, end of year 31 31 31

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 27 35 25
3010 Obligations incurred, unexpired accounts 118 114 107
3020 Outlays (gross) –109 –124 –109
3041 Recoveries of prior year unpaid obligations, expired –1



3050 Unpaid obligations, end of year 35 25 23
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –9 –7 –7
3070 Change in uncollected pymts, Fed sources, unexpired –6
3071 Change in uncollected pymts, Fed sources, expired 8



3090 Uncollected pymts, Fed sources, end of year –7 –7 –7
Memorandum (non-add) entries:
3100 Obligated balance, start of year 18 28 18
3200 Obligated balance, end of year 28 18 16

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 119 114 107
Outlays, gross:
4010 Outlays from new discretionary authority 73 87 81
4011 Outlays from discretionary balances 36 37 28



4020 Outlays, gross (total) 109 124 109
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –10 –3 –3
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –6
4052 Offsetting collections credited to expired accounts 8



4060 Additional offsets against budget authority only (total) 2



4070 Budget authority, net (discretionary) 111 111 104
4080 Outlays, net (discretionary) 99 121 106
4180 Budget authority, net (total) 111 111 104
4190 Outlays, net (total) 99 121 106

The mission of FinCEN is to safeguard the financial system from illicit activity, combat money laundering, and promote national security through the collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities. FinCEN carries out its mission by exercising regulatory functions under the Bank Secrecy Act; targeting examination and enforcement efforts in high risk areas; receiving and maintaining financial transaction data; analyzing and disseminating the data for law enforcement purposes; and serving as the financial intelligence unit of the United States, which involves building global cooperation with counterpart organizations in foreign countries and international groups.

Object Classification (in millions of dollars)


Identification code 20–0173–0–1–751 2012 actual 2013 CR 2014 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 34 40 40
12.1 Civilian personnel benefits 10 11 11
21.0 Travel and transportation of persons 1 1 1
23.1 Rental payments to GSA 5 6 7
23.3 Communications, utilities, and miscellaneous charges 1 1 2
25.1 Advisory and assistance services 2 2 1
25.2 Other services from non-Federal sources 8 13 9
25.3 Other goods and services from Federal sources 12 7 7
25.4 Operation and maintenance of facilities 1 1
25.7 Operation and maintenance of equipment 12 19 18
26.0 Supplies and materials 1 1 1
31.0 Equipment 24 9 6



99.0 Direct obligations 110 111 104
99.0 Reimbursable obligations 8 3 3



99.9 Total new obligations 118 114 107

Employment Summary


Identification code 20–0173–0–1–751 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 299 345 340
2001 Reimbursable civilian full-time equivalent employment 2 1 1

Fiscal Service

Federal Funds

Salaries and Expenses, Fiscal Service

For necessary expenses of operations of the Bureau of the Fiscal Service, $360,165,000; of which not to exceed $4,210,000, to remain available until September 30, 2016, is for information systems modernization initiatives; and of which $8,740,000 shall remain available until September 30, 2016 for expenses related to the consolidation of Financial Management Service and the Bureau of the Public Debt; and of which $5,000 shall be available for official reception and representation expenses.

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.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–0520–0–1–800 2012 actual 2013 CR 2014 est.

0100 Balance, start of year 3 3 26
Receipts:
0220 Debt Collection 97 97 97



0400 Total: Balances and collections 100 100 123
Appropriations:
0500 Salaries and Expenses, Fiscal Service –97 –74 –89



0799 Balance, end of year 3 26 34

Program and Financing (in millions of dollars)


Identification code 20–0520–0–1–800 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Collections 23 21 22
0002 Debt Collection 87 74 89
0003 DoNOT Pay Business Center 5 10 5
0004 Government Agency Investment Services 16 16 14
0005 Government-wide Accounting and Reporting 72 65 65
0006 Payments 121 133 126
0007 Retail Securities Services 108 117 101
0008 Summary Debt Accounting 19 9 5
0009 Wholesale Securities Services 18 24 22



0799 Total direct obligations 469 469 449
0801 Reimbursable program activity 172 174 150



0900 Total new obligations 641 643 599

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 99 114 117
1012 Unobligated balance transfers between expired and unexpired accounts 4 3 3
1021 Recoveries of prior year unpaid obligations 2 2 2



1050 Unobligated balance (total) 105 119 122
Budget authority:
Appropriations, discretionary:
1100 Appropriation 389 393 360
1120 Appropriations transferred to other accts [20–0520] –15 –5 –14
1121 Appropriations transferred from other accts [20–0520] 15 5 14



1160 Appropriation, discretionary (total) 389 393 360
Appropriations, mandatory:
1201 Special Fund 20–5445 97 74 89



1260 Appropriations, mandatory (total) 97 74 89
Spending authority from offsetting collections, discretionary:
1700 Collected 150 173 150
1700 Offsetting collections (user fees) 2 1
1701 Change in uncollected payments, Federal sources 20



1750 Spending auth from offsetting collections, disc (total) 172 174 150
1900 Budget authority (total) 658 641 599
1930 Total budgetary resources available 763 760 721
Memorandum (non-add) entries:
1940 Unobligated balance expiring –8
1941 Unexpired unobligated balance, end of year 114 117 122
Special and non-revolving trust funds:
1951 Unobligated balance expiring 2 2 2
1952 Expired unobligated balance, start of year 4 4 4
1953 Expired unobligated balance, end of year 4 4 4

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 126 108 54
3010 Obligations incurred, unexpired accounts 641 643 599
3011 Obligations incurred, expired accounts 5
3020 Outlays (gross) –648 –695 –589
3040 Recoveries of prior year unpaid obligations, unexpired –2 –2 –2
3041 Recoveries of prior year unpaid obligations, expired –14



3050 Unpaid obligations, end of year 108 54 62
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –24 –26 –26
3070 Change in uncollected pymts, Fed sources, unexpired –20
3071 Change in uncollected pymts, Fed sources, expired 18



3090 Uncollected pymts, Fed sources, end of year –26 –26 –26
Memorandum (non-add) entries:
3100 Obligated balance, start of year 102 82 28
3200 Obligated balance, end of year 82 28 36

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 561 567 510
Outlays, gross:
4010 Outlays from new discretionary authority 489 488 439
4011 Outlays from discretionary balances 71 52 61



4020 Outlays, gross (total) 560 540 500
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Baseline Program [Text] –165 –173 –150
4033 Baseline Program [Text] –3 –1



4040 Offsets against gross budget authority and outlays (total) –168 –174 –150
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –20
4052 Offsetting collections credited to expired accounts 16



4060 Additional offsets against budget authority only (total) –4



4070 Budget authority, net (discretionary) 389 393 360
4080 Outlays, net (discretionary) 392 366 350
Mandatory:
4090 Budget authority, gross 97 74 89
Outlays, gross:
4100 Outlays from new mandatory authority 62 78
4101 Outlays from mandatory balances 88 93 11



4110 Outlays, gross (total) 88 155 89
4180 Budget authority, net (total) 486 467 449
4190 Outlays, net (total) 480 521 439

On October 7, 2012, the administrative operations provided under the Bureau of the Public Debt and the Financial Management Service were consolidated into the Bureau of the Fiscal Service. This consolidation eliminates duplicative functions and improves the Department's ability to provide financial management leadership across the Federal Government while maintaining existing core federal financial management operations. This includes 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 Bureau 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.

Object Classification (in millions of dollars)


Identification code 20–0520–0–1–800 2012 actual 2013 CR 2014 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 151 201 194
11.1 Full-time permanent 34
11.3 Other than full-time permanent 3 2 2
11.5 Other personnel compensation 2 7 7
11.8 Special personal services payments 4 32 37



11.9 Total personnel compensation 194 242 240
12.1 Civilian personnel benefits 45 55 50
12.1 Civilian personnel benefits 9
13.0 Benefits for former personnel 2 1
21.0 Travel and transportation of persons 2 4 4
21.0 Travel and transportation of persons 1
23.1 Rental payments to GSA 21 26 26
23.1 Rental payments to GSA 1
23.2 Rental payments to others 1 1 1
23.3 Communications, utilities, and miscellaneous charges 10 13 13
23.3 Communications, utilities, and miscellaneous charges 5
24.0 Printing and reproduction 1
25.1 Advisory and assistance services 4 10 15
25.1 Advisory and assistance services 7
25.2 Other services from non-Federal sources 39 25 26
25.2 Other services from non-Federal sources 20
25.3 Other goods and services from Federal sources 85 60 43
25.3 Other goods and services from Federal sources 4
25.4 Operation and maintenance of facilities 2 2 1
25.7 Operation and maintenance of equipment 3 13 9
25.7 Operation and maintenance of equipment 1
26.0 Supplies and materials 3 4 4
26.0 Supplies and materials 1
31.0 Equipment 3 11 12
31.0 Equipment 3
32.0 Land and structures 2 2 4
32.0 Land and structures 1



99.0 Direct obligations 469 4