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[, including for]; 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, [$312,400,000] $308,734,000: Provided, That, of the amount appropriated under this heading—

(1) the following amounts shall be available as provided:

[(A) $102,000,000 for the Office of Terrorism and Financial Intelligence, of which not to exceed $26,000,000 is available for administrative expenses;]

([B] A) not to exceed $350,000 for official reception and representation expenses;

([C] B) not to exceed $258,000 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 the Secretary's certificate; and

([D] C) notwithstanding any other provision of law, 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;

(2) [$19,187,000] up to $12,000,000 shall remain available until September 30, [2015, of which $8,287,000 is available] 2016 for the Treasury-wide Financial Statement Audit and Internal Control Program; [$3,000,000 is for] information technology modernization requirements; [$500,000 is for] and secure space requirements; [and $7,400,000 is for audit, oversight, and administration of the Gulf Coast Restoration Trust Fund;] and

(3) up to $3,400,000 shall remain available until September 30, [2016] 2017, to develop and implement programs within the Office of Critical Infrastructure Protection and Compliance Policy, including entering into cooperative agreements:

Provided further, That, in addition to the amount otherwise made available under this heading, $9,500,000 shall remain available until September 30, 2016, for necessary expenses for carrying out subtitle F of title I of division A of Public Law 112–141, to be derived from the trust fund established under section 1602 of such Public Law, without altering the percentages of funds made available for other purposes from the remaining balance of the trust fund. (Department of the Treasury Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 20–0101–0–1–803 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Executive Direction 32 37 38
0002 International Affairs and Economic Policy 56 56 57
0003 Domestic Finance and Tax Policy 75 81 69
0004 Terrorism and Financial Intelligence 99 102 106
0005 Treasury-wide Management and Programs 29 36 39



0100 Subtotal, Direct programs 291 312 309



0799 Total direct obligations 291 312 309
0811 Reimbursable program 66 70 70



0900 Total new obligations 357 382 379

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 15 13 20
1012 Unobligated balance transfers between expired and unexpired accounts 1



1050 Unobligated balance (total) 16 13 20
Budget authority:
Appropriations, discretionary:
1100 Appropriation 308 312 309
1121 Appropriations transferred from other accts [20–8625] 9
1130 Appropriations permanently reduced –16



1160 Appropriation, discretionary (total) 292 312 318
Spending authority from offsetting collections, discretionary:
1700 Collected 46 77 79
1701 Change in uncollected payments, Federal sources 19



1750 Spending auth from offsetting collections, disc (total) 65 77 79
1900 Budget authority (total) 357 389 397
1930 Total budgetary resources available 373 402 417
Memorandum (non-add) entries:
1940 Unobligated balance expiring –3
1941 Unexpired unobligated balance, end of year 13 20 38

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 95 82 43
3010 Obligations incurred, unexpired accounts 357 382 379
3011 Obligations incurred, expired accounts 15
3020 Outlays (gross) –367 –421 –396
3041 Recoveries of prior year unpaid obligations, expired –18



3050 Unpaid obligations, end of year 82 43 26
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –22 –28 –28
3070 Change in uncollected pymts, Fed sources, unexpired –19
3071 Change in uncollected pymts, Fed sources, expired 13



3090 Uncollected pymts, Fed sources, end of year –28 –28 –28
Memorandum (non-add) entries:
3100 Obligated balance, start of year 73 54 15
3200 Obligated balance, end of year 54 15 –2

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 357 389 397
Outlays, gross:
4010 Outlays from new discretionary authority 299 349 356
4011 Outlays from discretionary balances 68 72 40



4020 Outlays, gross (total) 367 421 396
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –59 –77 –79
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –19
4052 Offsetting collections credited to expired accounts 13



4060 Additional offsets against budget authority only (total) –6



4070 Budget authority, net (discretionary) 292 312 318
4080 Outlays, net (discretionary) 308 344 317
4180 Budget authority, net (total) 292 312 318
4190 Outlays, net (total) 308 344 317

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

Object Classification (in millions of dollars)


Identification code 20–0101–0–1–803 2013 actual 2014 est. 2015 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 135 138 143
11.3 Other than full-time permanent 2 2 2
11.5 Other personnel compensation 3 3 3



11.9 Total personnel compensation 140 143 148
12.1 Civilian personnel benefits 40 42 43
21.0 Travel and transportation of persons 6 6 6
23.1 Rental payments to GSA 6 6 6
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 20 21 14
25.2 Other services from non-Federal sources 16 32 31
25.3 Other goods and services from Federal sources 41 41 36
25.7 Operation and maintenance of equipment 3 3 3
26.0 Supplies and materials 6 6 6
31.0 Equipment 8 7 11



99.0 Direct obligations 291 312 309
99.0 Reimbursable obligations 66 70 70



99.9 Total new obligations 357 382 379

Employment Summary


Identification code 20–0101–0–1–803 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 1,189 1,171 1,188
2001 Reimbursable civilian full-time equivalent employment 125 132 132

Department-Wide Systems and Capital Investments Programs

(including transfer of funds)

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] 2017: Provided, That these funds shall be transferred to accounts and in amounts as necessary to satisfy the requirements of the Department's offices, bureaus, and other organizations: Provided further, That this transfer authority shall be in addition to any other transfer authority provided in this Act[: Provided further, That none of the funds appropriated under this heading shall be used to support or supplement "Internal Revenue Service, Operations Support'' or "Internal Revenue Service, Business Systems Modernization'']. (Department of the Treasury Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 20–0115–0–1–803 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Direct program activity 1 3 3

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



1050 Unobligated balance (total) 2 2 3
Budget authority:
Appropriations, discretionary:
1100 Appropriation 3 3



1160 Appropriation, discretionary (total) 3 3
1900 Budget authority (total) 3 3
1930 Total budgetary resources available 2 5 6
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1 2 3

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 6 3 3
3010 Obligations incurred, unexpired accounts 1 3 3
3020 Outlays (gross) –4 –2 –2
3040 Recoveries of prior year unpaid obligations, unexpired –1 –1



3050 Unpaid obligations, end of year 3 3 3
Memorandum (non-add) entries:
3100 Obligated balance, start of year 6 3 3
3200 Obligated balance, end of year 3 3 3

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 3 3
Outlays, gross:
4010 Outlays from new discretionary authority 1 1
4011 Outlays from discretionary balances 4 1 1



4020 Outlays, gross (total) 4 2 2
4180 Budget authority, net (total) 3 3
4190 Outlays, net (total) 4 2 2

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 2013 actual 2014 est. 2015 est.

Direct obligations:
25.2 Other services from non-Federal sources 1 2 2
32.0 Land and structures 1 1



99.9 Total new obligations 1 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, [$34,800,000] $35,351,000, including hire of passenger motor vehicles; 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[; of which not to exceed $2,500 shall be available for official reception and representation expenses; and of which $2,800,000 shall be for audits and investigations conducted pursuant to section 1608 of the Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012 (33 U.S.C. 1321 note)]. (Department of the Treasury Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 20–0106–0–1–803 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Audits 20 27 27
0002 Investigations 8 8 8



0799 Total direct obligations 28 35 35
0801 Reimbursable program 9 12 12



0900 Total new obligations 37 47 47

Budgetary Resources:
Unobligated balance:
1012 Unobligated balance transfers between expired and unexpired accounts 1
Budget authority:
Appropriations, discretionary:
1100 Appropriation 30 35 35
1130 Appropriations permanently reduced –2



1160 Appropriation, discretionary (total) 28 35 35
Spending authority from offsetting collections, discretionary:
1700 Collected 4 12 12
1701 Change in uncollected payments, Federal sources 5



1750 Spending auth from offsetting collections, disc (total) 9 12 12
1900 Budget authority (total) 37 47 47
1930 Total budgetary resources available 38 47 47
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 11 7 9
3010 Obligations incurred, unexpired accounts 37 47 47
3020 Outlays (gross) –40 –45 –47
3041 Recoveries of prior year unpaid obligations, expired –1



3050 Unpaid obligations, end of year 7 9 9
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –7 –5 –5
3070 Change in uncollected pymts, Fed sources, unexpired –5
3071 Change in uncollected pymts, Fed sources, expired 7



3090 Uncollected pymts, Fed sources, end of year –5 –5 –5
Memorandum (non-add) entries:
3100 Obligated balance, start of year 4 2 4
3200 Obligated balance, end of year 2 4 4

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 37 47 47
Outlays, gross:
4010 Outlays from new discretionary authority 29 36 36
4011 Outlays from discretionary balances 11 9 11



4020 Outlays, gross (total) 40 45 47
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –11 –12 –12
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –5
4052 Offsetting collections credited to expired accounts 7



4060 Additional offsets against budget authority only (total) 2



4070 Budget authority, net (discretionary) 28 35 35
4080 Outlays, net (discretionary) 29 33 35
4180 Budget authority, net (total) 28 35 35
4190 Outlays, net (total) 29 33 35

The Office of Inspector General (OIG) conducts audits, evaluations, and investigations designed to: (1) promote economy, efficiency, and effectiveness and prevent and detect fraud, waste, and abuse in Departmental programs and operations and (2) keep the Secretary and the Congress fully and currently informed of problems and deficiencies in the administration of Departmental programs and operations. The OIG conducts audits and investigations of all Treasury programs and operations except those under jurisdictional oversight of the Treasury Inspector General for Tax Administration and the Special Inspector General for the Troubled Assets Relief Program. Additionally, the Treasury Inspector General functions as the Chair of the Council of Inspectors General on Financial Oversight. The Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act (RESTORE Act) tasked Treasury OIG with providing oversight of all projects, programs, and operations of the Gulf Coast Restoration Trust Fund.

The 2015 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 address mandated requirements related to provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including requirements to monitor and periodically report 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 75 audit products in 2015.

In 2015, 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 2015, 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 2013 actual 2014 est. 2015 est.

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



11.9 Total personnel compensation 16 18 19
12.1 Civilian personnel benefits 5 6 6
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 2 3
25.3 Other goods and services from Federal sources 2 3 3
31.0 Equipment 1 2



99.0 Direct obligations 28 35 35
99.0 Reimbursable obligations 9 12 12



99.9 Total new obligations 37 47 47

Employment Summary


Identification code 20–0106–0–1–803 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 175 180 194
2001 Reimbursable civilian full-time equivalent employment 21 21

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] 10 for replacement only for police-type use) and hire of passenger motor vehicles (31 U.S.C. 1343(b)); and services authorized by 5 U.S.C. 3109, at such rates as may be determined by the Inspector General for Tax Administration; [$156,375,000] $157,419,000, of which $5,000,000 shall remain available until September 30, [2015] 2016; of which not to exceed $6,000,000 shall be available for official travel expenses; of which not to exceed $500,000 shall be available for unforeseen emergencies of a confidential nature, to be allocated and expended under the direction of the Inspector General for Tax Administration[; and of which not to exceed $1,500 shall be available for official reception and representation expenses]. (Department of the Treasury Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 20–0119–0–1–803 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Audit 53 61 61
0002 Investigations 91 95 96



0799 Total direct obligations 144 156 157
0801 Reimbursable program 1 2 2



0900 Total new obligations 145 158 159

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



1050 Unobligated balance (total) 2 1 1
Budget authority:
Appropriations, discretionary:
1100 New budget authority (gross), detail 151 157 158
1130 Appropriations permanently reduced –8



1160 Appropriation, discretionary (total) 143 157 158
Spending authority from offsetting collections, discretionary:
1700 Collected 1 1 1
1701 Change in uncollected payments, Federal sources 1



1750 Spending auth from offsetting collections, disc (total) 2 1 1
1900 Budget authority (total) 145 158 159
1930 Total budgetary resources available 147 159 160
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 15 9 9
3010 Obligations incurred, unexpired accounts 145 158 159
3011 Obligations incurred, expired accounts 1
3020 Outlays (gross) –150 –158 –158
3041 Recoveries of prior year unpaid obligations, expired –2



3050 Unpaid obligations, end of year 9 9 10
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –1 –2 –2
3070 Change in uncollected pymts, Fed sources, unexpired –1



3090 Uncollected pymts, Fed sources, end of year –2 –2 –2
Memorandum (non-add) entries:
3100 Obligated balance, start of year 14 7 7
3200 Obligated balance, end of year 7 7 8

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 145 158 159
Outlays, gross:
4010 Outlays (gross), detail 138 146 146
4011 Outlays from discretionary balances 12 12 12



4020 Outlays, gross (total) 150 158 158
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –1 –1 –1
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –1



4070 Budget authority, net (discretionary) 143 157 158
4080 Outlays, net (discretionary) 149 157 157
4180 Budget authority, net (total) 143 157 158
4190 Outlays, net (total) 149 157 157

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 2015, 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 2015, TIGTA's Office of Audit will focus on the major management and performance challenges and key cross-cutting issues confronting the IRS by balancing 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 the IRS's progress in achieving its strategic goals. Audits will address areas of concern to Congress, Secretary of the Treasury, the IRS Oversight Board and the IRS Commissioner. TIGTA's 2013 highlights include issuing 115 audit reports, and identifying more than $16.6 billion in potential financial benefits.

In 2015, TIGTA's Office of Inspections and Evaluations will conduct strategic reviews targeting specific tax administration problems. TIGTA's 2013 highlights include issuing nine inspection/evaluation reports, and identifying $204.6 thousand in cost savings.

Object Classification (in millions of dollars)


Identification code 20–0119–0–1–803 2013 actual 2014 est. 2015 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 80 86 86
11.5 Other personnel compensation 8 9 9



11.9 Total personnel compensation 88 95 95
12.1 Civilian personnel benefits 30 32 32
21.0 Travel and transportation of persons 1 3 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 8 8 8
25.7 Operation and maintenance of equipment 1 1 1
26.0 Supplies and materials 1 1 1
31.0 Equipment 2 3 4



99.0 Direct obligations 144 156 157
99.0 Reimbursable obligations 1 2 2



99.9 Total new obligations 145 158 159

Employment Summary


Identification code 20–0119–0–1–803 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 772 835 835
2001 Reimbursable civilian full-time equivalent employment 2 2 2

Expanded Access to Financial Services

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 2013 actual 2014 est. 2015 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 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Base Administrative Expenses 2 3 3
0003 Projected Payments to Insurers 110 176



0900 Total new obligations 2 113 179

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 2 113 179



1260 Appropriations, mandatory (total) 2 113 179
1900 Budget authority (total) 2 113 179
1930 Total budgetary resources available 2 113 179

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1 1 1
3010 Obligations incurred, unexpired accounts 2 113 179
3020 Outlays (gross) –2 –113 –179



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

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 2 113 179
Outlays, gross:
4100 Outlays from new mandatory authority 2 113 179
4180 Budget authority, net (total) 2 113 179
4190 Outlays, net (total) 2 113 179

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 $230 million over the 2015–2019 period and $300 million over the 2015–2024 period.

In order to preserve the long-term availability and affordability of property and casualty insurance for terrorism risk, the Budget proposes to extend the Terrorism Risk Insurance Program and to implement programmatic reforms to limit taxpayer exposure and achieve cost neutrality. The Administration will work with Congress to identify appropriate adjustments to program terms to achieve budget neutrality and, over the longer term, full transition of the program to the private sector. Building on previously enacted reforms to the program, this extension may include changes to the size of the deductible, the threshold for a certified terrorist event, or the loss-sharing percentages for the Government and covered firms after the deductible is exceeded.

Object Classification (in millions of dollars)


Identification code 20–0123–0–1–376 2013 actual 2014 est. 2015 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 110 176



99.9 Total new obligations 2 113 179

Employment Summary


Identification code 20–0123–0–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 6 10 10

Treasury Forfeiture Fund

[(rescission)] (CANCELLATION)

Of the unobligated balances available under this heading, [$736,000,000] $950,000,000 are [rescinded] hereby permanently cancelled not later than September 30, 2015. (Department of the Treasury Appropriations Act, 2014.)

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5697–0–2–751 2013 actual 2014 est. 2015 est.

0100 Balance, start of year 951 1,038 844
Receipts:
0200 Forfeited Cash and Proceeds from Sale of Forfeited Property, Treasury Forfeiture Fund 1,713 600 548
0240 Earnings on Investments, Treasury Forfeiture Fund 2 2 2



0299 Total receipts and collections 1,715 602 550



0400 Total: Balances and collections 2,666 1,640 1,394
Appropriations:
0500 Treasury Forfeiture Fund –2,665 –639 –443
0501 Treasury Forfeiture Fund –1,037 –836
0502 Treasury Forfeiture Fund 1,037 44
0503 Treasury Forfeiture Fund 836



0599 Total appropriations –1,628 –796 –1,279



0799 Balance, end of year 1,038 844 115

Program and Financing (in millions of dollars)


Identification code 20–5697–0–2–751 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Asset forfeiture fund 908 723 367

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 145 889 95
1021 Recoveries of prior year unpaid obligations 24



1050 Unobligated balance (total) 169 889 95
Budget authority:
Appropriations, discretionary:
1130 Appropriations permanently reduced –950



1160 Appropriation, discretionary (total) –950
Appropriations, mandatory:
1201 Appropriation (special or trust fund) 2,665 639 443
1203 Appropriation (previously unavailable) 1,037 836
1230 Appropriations and/or unobligated balance of appropriations permanently reduced –867
1232 Appropriations and/or unobligated balance of appropriations temporarily reduced –1,037 –44
1232 Appropriations and/or unobligated balance of appropriations temporarily reduced –836



1260 Appropriations, mandatory (total) 1,628 –71 1,279
1900 Budget authority (total) 1,628 –71 329
1930 Total budgetary resources available 1,797 818 424
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 889 95 57

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 551 924 942
3010 Obligations incurred, unexpired accounts 908 723 367
3020 Outlays (gross) –511 –705 –284
3040 Recoveries of prior year unpaid obligations, unexpired –24



3050 Unpaid obligations, end of year 924 942 1,025
Memorandum (non-add) entries:
3100 Obligated balance, start of year 551 924 942
3200 Obligated balance, end of year 924 942 1,025

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross –950
Outlays, gross:
4010 Outlays from new discretionary authority –475
Mandatory:
4090 Budget authority, gross 1,628 –71 1,279
Outlays, gross:
4100 Outlays from new mandatory authority 253 –35 640
4101 Outlays from mandatory balances 258 740 119



4110 Outlays, gross (total) 511 705 759
4180 Budget authority, net (total) 1,628 –71 329
4190 Outlays, net (total) 511 705 284

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 1,631 2,824 1,957
5001 Total investments, EOY: Federal securities: Par value 2,824 1,957 1,957

The mission of the Treasury Forfeiture Fund is to affirmatively influence the consistent and strategic use of asset forfeiture by our participating agencies to disrupt and dismantle criminal enterprises. 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 2013 actual 2014 est. 2015 est.

Direct obligations:
25.2 Other services from non-Federal sources 183 50 26
25.3 Other goods and services from Federal sources 144 145 73
41.0 Grants, subsidies, and contributions 581 528 268



99.9 Total new obligations 908 723 367

Financial Research Fund

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5590–0–2–376 2013 actual 2014 est. 2015 est.

0100 Balance, start of year 2 10
Receipts:
0200 Fees and Assessments, Financial Research Fund 35 109 106



0400 Total: Balances and collections 35 111 116
Appropriations:
0500 Financial Research Fund –35 –109 –115
0501 Financial Research Fund 2 8



0599 Total appropriations –33 –101 –115



0799 Balance, end of year 2 10 1

Program and Financing (in millions of dollars)


Identification code 20–5590–0–2–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0002 FSOC 6 7 8
0003 FDIC Payments 6 12 12



0091 FSOC subtotal 12 19 20
0101 OFR 65 86 92



0900 Total new obligations 77 105 112

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 125 82 78
1021 Recoveries of prior year unpaid obligations 1



1050 Unobligated balance (total) 126 82 78
Budget authority:
Appropriations, mandatory:
1201 Appropriation (special or trust fund) 35 109 115
1232 Appropriations and/or unobligated balance of appropriations temporarily reduced –2 –8



1260 Appropriations, mandatory (total) 33 101 115
1900 Budget authority (total) 33 101 115
1930 Total budgetary resources available 159 183 193
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 82 78 81

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 17 26 31
3010 Obligations incurred, unexpired accounts 77 105 112
3020 Outlays (gross) –67 –100 –111
3040 Recoveries of prior year unpaid obligations, unexpired –1



3050 Unpaid obligations, end of year 26 31 32
Memorandum (non-add) entries:
3100 Obligated balance, start of year 17 26 31
3200 Obligated balance, end of year 26 31 32

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 33 101 115
Outlays, gross:
4100 Outlays from new mandatory authority 27 29
4101 Outlays from mandatory balances 67 73 82



4110 Outlays, gross (total) 67 100 111
4180 Budget authority, net (total) 33 101 115
4190 Outlays, net (total) 67 100 111

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 62 62
5001 Total investments, EOY: Federal securities: Par value 62 62 62

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 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 treated as expenses of the Council, and are estimated at $12.5 million in 2015.

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. 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 2013 actual 2014 est. 2015 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 18 30 31
12.1 Civilian personnel benefits 6 8 10
21.0 Travel and transportation of persons 1
23.1 Rental payments to GSA 3 4 4
23.3 Communications, utilities, and miscellaneous charges 2 2 2
25.1 Advisory and assistance services 13 17 14
25.2 Other services from non-Federal sources 1
25.3 Other goods and services from Federal sources 17 24 26
26.0 Supplies and materials 4 7 9
31.0 Equipment 13 13 15



99.9 Total new obligations 77 105 112

Employment Summary


Identification code 20–5590–0–2–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 132 240 275

Presidential Election Campaign Fund

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–5081–0–2–808 2013 actual 2014 est. 2015 est.

0100 Balance, start of year 16
Receipts:
0200 Presidential Election Campaign Fund 35 50 50



0400 Total: Balances and collections 35 50 66
Appropriations:
0500 Presidential Election Campaign Fund –35 –34 –32



0799 Balance, end of year 16 34

Program and Financing (in millions of dollars)


Identification code 20–5081–0–2–808 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0003 Nominating Conventions - Major Party 38
0004 Presidential Primary Matching Fund Candidates 1



0900 Total new obligations (object class 41.0) 1 38

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 235 269 299
Budget authority:
Appropriations, mandatory:
1201 Appropriation (special or trust fund) 35 34 32
1230 Appropriations and/or unobligated balance of appropriations permanently reduced –4



1260 Appropriations, mandatory (total) 35 30 32
1900 Budget authority (total) 35 30 32
1930 Total budgetary resources available 270 299 331
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 269 299 293

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 1 38
3020 Outlays (gross) –1 –38

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 35 30 32
Outlays, gross:
4101 Outlays from mandatory balances 1 38
4180 Budget authority, net (total) 35 30 32
4190 Outlays, net (total) 1 38

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, fewer than 7 percent of individuals have elected to make this designation, resulting in less than $40 million being 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 Presidential elections.

Money for the public funding of Presidential elections can only come from the PECF. If the PECF were to exhaust its fund balances, no other funds could 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 payments to the campaigns.

Matching Funds for Presidential Primary Candidates— Upon certification by the Federal Election Commission—based on a demonstration of broad national support, adherence 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 received from an individual. The private contributions must be 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 that may not exceed $20 million (adjusted for inflation since 1974) per party. 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, new parties, minor parties, and non-major party candidates who receive in excess of 5 percent of the popular vote may 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. The total of such payments is limited to the amount in the PECF. 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 (adjusted for inflation since 1974). The long- range budget estimates include payments to the party conventions through fiscal year 2024.

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 program will support the growing number of state and local governments seeking to establish Pay for Success projects that leverage private investment to provide preventive social services that improve the outcomes for families and communities while generating Government savings. The program will encourage innovation and accelerate the use of evidence-based approaches by lowering and sharing the risk associated with initial private investments and by enabling state and local governments to attract additional investment in services that result in Federal, state, and local government savings. The program will provide credit enhancements and results-based payments to eligible intermediaries. The PFS Incentive Fund will help to strengthen state and local governments and other 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 2013 actual 2014 est. 2015 est.

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



0900 Total new obligations 42

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



1260 Appropriations, mandatory (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 2013 actual 2014 est. 2015 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 2013 actual 2014 est. 2015 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 2013 actual 2014 est. 2015 est.

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 44,092 42,393 42,614
1021 Recoveries of prior year unpaid obligations 287
1026 Adjustment for change in allocation of trust fund limitation or foreign exchange valuation –2,116



1050 Unobligated balance (total) 42,263 42,393 42,614
Budget authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 130 221 249



1850 Spending auth from offsetting collections, mand (total) 130 221 249
1930 Total budgetary resources available 42,393 42,614 42,863
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 42,393 42,614 42,863

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 59,671 59,384 59,384
3040 Recoveries of prior year unpaid obligations, unexpired –287



3050 Unpaid obligations, end of year 59,384 59,384 59,384
Memorandum (non-add) entries:
3100 Obligated balance, start of year 59,671 59,384 59,384
3200 Obligated balance, end of year 59,384 59,384 59,384

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 130 221 249
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4121 Interest on Federal securities –13 –21 –28
4123 Non-Federal sources –117 –200 –221



4130 Offsets against gross budget authority and outlays (total) –130 –221 –249
4170 Outlays, net (mandatory) –130 –221 –249
4190 Outlays, net (total) –130 –221 –249

Memorandum (non-add) entries:
5000 Total investments, SOY: Federal securities: Par value 22,680 22,669 22,666
5001 Total investments, EOY: Federal securities: Par value 22,669 22,666 22,670

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 2014 and 2015 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 2012 actual 2013 actual

ASSETS:
Federal assets: Investments in US securities:
1102 Treasury securities, par 22,680 22,669
1201 Non-Federal assets: Foreign Currency Investments 25,940 24,221
1801 Other Federal assets: Special Drawing Rights 55,240 54,973


1999 Total assets 103,860 101,863
LIABILITIES:
2207 Non-Federal liabilities: Other 59,671 59,384
NET POSITION:
3100 Unexpended appropriations 200 200
3300 Cumulative results of operations 43,989 42,279


3999 Total net position 44,189 42,479


4999 Total liabilities and net position 103,860 101,863

Working Capital Fund

Program and Financing (in millions of dollars)


Identification code 20–4501–0–4–803 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0810 Working capital fund 188

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 53 28
1010 Unobligated balance transfer to other accts [20–4560] –28
1021 Recoveries of prior year unpaid obligations 21



1050 Unobligated balance (total) 74
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 142



1750 Spending auth from offsetting collections, disc (total) 142
1900 Budget authority (total) 142
1930 Total budgetary resources available 216
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 28

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 85 81
3010 Obligations incurred, unexpired accounts 188
3020 Outlays (gross) –171
3030 Unpaid obligations transferred to other accts [20–4560] –81
3040 Recoveries of prior year unpaid obligations, unexpired –21



3050 Unpaid obligations, end of year 81
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –5 –5 –5



3090 Uncollected pymts, Fed sources, end of year –5 –5 –5
Memorandum (non-add) entries:
3100 Obligated balance, start of year 80 76 –5
3200 Obligated balance, end of year 76 –5 –5

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 142
Outlays, gross:
4010 Outlays from new discretionary authority 139
4011 Outlays from discretionary balances 32



4020 Outlays, gross (total) 171
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –142
4190 Outlays, net (total) 29

Object Classification (in millions of dollars)


Identification code 20–4501–0–4–803 2013 actual 2014 est. 2015 est.

Reimbursable obligations:
11.1 Personnel compensation: Full-time permanent 24
12.1 Civilian personnel benefits 6
23.1 Rental payments to GSA 5
23.3 Communications, utilities, and miscellaneous charges 3
25.1 Advisory and assistance services 17
25.2 Other services from non-Federal sources 52
25.3 Other goods and services from Federal sources 62
25.7 Operation and maintenance of equipment 9
26.0 Supplies and materials 1
31.0 Equipment 9



99.9 Total new obligations 188

Employment Summary


Identification code 20–4501–0–4–803 2013 actual 2014 est. 2015 est.

2001 Reimbursable civilian full-time equivalent employment 202

Treasury Franchise Fund

Program and Financing (in millions of dollars)


Identification code 20–4560–0–4–803 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0802 Financial Management Administrative Support Service 128 138 159
0804 Information Technology Services 152 146 151
0806 Shared Services Program 172 172



0900 Total new obligations 280 456 482

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 64 98 115
1011 Unobligated balance transfer from other accts [20–4501] 28
1021 Recoveries of prior year unpaid obligations 3



1050 Unobligated balance (total) 67 126 115
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 256 445 482
1701 Change in uncollected payments, Federal sources 55



1750 Spending auth from offsetting collections, disc (total) 311 445 482
1930 Total budgetary resources available 378 571 597
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 98 115 115

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 55 65 121
3010 Obligations incurred, unexpired accounts 280 456 482
3020 Outlays (gross) –267 –481 –575
3031 Unpaid obligations transferred from other accts [20–4501] 81
3040 Recoveries of prior year unpaid obligations, unexpired –3



3050 Unpaid obligations, end of year 65 121 28
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –7 –62 –62
3070 Change in uncollected pymts, Fed sources, unexpired –55



3090 Uncollected pymts, Fed sources, end of year –62 –62 –62
Memorandum (non-add) entries:
3100 Obligated balance, start of year 48 3 59
3200 Obligated balance, end of year 3 59 –34

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 311 445 482
Outlays, gross:
4010 Outlays from new discretionary authority 231 383 415
4011 Outlays from discretionary balances 36 98 160



4020 Outlays, gross (total) 267 481 575
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –256 –445 –482
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –55
4080 Outlays, net (discretionary) 11 36 93
4190 Outlays, net (total) 11 36 93

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 its three business lines: the Administrative Resource Center (ARC), Fiscal IT, and the Shared Services Programs. The Shared Services Programs were transferred in from the Treasury Working Capital Fund on October 1, 2013. Services are provided to Federal customers, on a reimbursable, fee-for-service basis.

Object Classification (in millions of dollars)


Identification code 20–4560–0–4–803 2013 actual 2014 est. 2015 est.

Reimbursable obligations:
Personnel compensation:
11.1 Full-time permanent 88 132 140
11.3 Other than full-time permanent 1
11.5 Other personnel compensation 3 4 4



11.9 Total personnel compensation 92 136 144
12.1 Civilian personnel benefits 29 34 36
21.0 Travel and transportation of persons 2 3 3
23.1 Rental payments to GSA 4 4
23.2 Rental payments to others 1 1
23.3 Communications, utilities, and miscellaneous charges 7 7 7
25.1 Advisory and assistance services 18 58 61
25.2 Other services from non-Federal sources 13 55 59
25.3 Other goods and services from Federal sources 44 84 89
25.7 Operation and maintenance of equipment 44 38 40
26.0 Supplies and materials 1 2 2
31.0 Equipment 30 34 36



99.9 Total new obligations 280 456 482

Employment Summary


Identification code 20–4560–0–4–803 2013 actual 2014 est. 2015 est.

2001 Reimbursable civilian full-time equivalent employment 1,182 1,618 1,836

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 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Direct Program Activity 5,147 4,665 1,695



0900 Total new obligations (object class 41.0) 5,147 4,665 1,695

Budgetary Resources:
Unobligated balance:
1021 Recoveries of prior year unpaid obligations 3
1029 Other balances withdrawn –9



1050 Unobligated balance (total) –6
Budget authority:
Appropriations, mandatory:
1200 Appropriation 5,310 5,027 1,695
1230 Appropriations and/or unobligated balance of appropriations permanently reduced –164 –362



1260 Appropriations, mandatory (total) 5,146 4,665 1,695
Spending authority from offsetting collections, mandatory:
1800 Collected 7



1850 Spending auth from offsetting collections, mand (total) 7
1900 Budget authority (total) 5,153 4,665 1,695
1930 Total budgetary resources available 5,147 4,665 1,695

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 294 32 32
3010 Obligations incurred, unexpired accounts 5,147 4,665 1,695
3020 Outlays (gross) –5,406 –4,665 –1,695
3040 Recoveries of prior year unpaid obligations, unexpired –3



3050 Unpaid obligations, end of year 32 32 32
Memorandum (non-add) entries:
3100 Obligated balance, start of year 294 32 32
3200 Obligated balance, end of year 32 32 32

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 5,153 4,665 1,695
Outlays, gross:
4100 Outlays from new mandatory authority 5,146 4,633 1,695
4101 Outlays from mandatory balances 260 32



4110 Outlays, gross (total) 5,406 4,665 1,695
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123 Non-Federal sources –7
4180 Budget authority, net (total) 5,146 4,665 1,695
4190 Outlays, net (total) 5,399 4,665 1,695

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.

Community Development Financial Institutions Fund Program Account

To carry out the Riegle Community Development and Regulatory Improvements Act of 1994 (subtitle A of title I of 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, [$226,000,000] $224,900,000, to remain available until September 30, [2015] 2016; of which $15,000,000 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 [sections] section 4707(d) [and 4707(e)] of title 12, United States Code, up to [$22,000,000] $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 [$18,000,000 shall be for the Bank Enterprise Award program; of which up to $24,636,000] up to $23,600,000 may be used for administrative expenses, including administration of CDFI Fund programs and the New Markets Tax Credit Program [and the CDFI Bond Guarantee Program, $1,000,000 for capacity building to expand CDFI investments in underserved areas], and up to $300,000 for the administrative expenses to carry out the direct loan program; and of which up to [$2,222,500] $3,102,500 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 [during fiscal year 2014] section 114A of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4701 et seq.) shall remain in effect until September 30, 2015: Provided further, That commitments to guarantee bonds and notes under section 114A of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. [4701 et seq.] 4713a) shall not exceed [$750,000,000] $1,000,000,000: Provided further, That no funds shall be available for the cost, if any, of bonds and notes guaranteed under such section, as defined in section 502 of the Congressional Budget Act of 1974. (Department of the Treasury Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 20–1881–0–1–451 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0009 General Administrative Expenses 23 25 24
0012 Financial Assistance 143 146 151
0014 Native American/Hawaiian Program 13 15 15
0026 Healthy Food Initiative 22 22 35
0028 Bank Enterprise Award 18 18



0091 Direct program activities, subtotal 219 226 225
Credit program obligations:
0701 Direct loan subsidy 4 3 2
0705 Reestimates of direct loan subsidy 1



0791 Direct program activities, subtotal 5 3 2



0900 Total new obligations 224 229 227

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 37 32 39
1001 Discretionary unobligated balance brought fwd, Oct 1 37 32
1021 Recoveries of prior year unpaid obligations 6 5 5



1050 Unobligated balance (total) 43 37 44
Budget authority:
Appropriations, discretionary:
1100 Appropriation 221 227 225
1130 Appropriations permanently reduced –12



1160 Appropriation, discretionary (total) 209 227 225
Appropriations, mandatory:
1200 Appropriation 1 1 1



1260 Appropriations, mandatory (total) 1 1 1
Spending authority from offsetting collections, discretionary:
1700 Collected 3 3 1



1750 Spending auth from offsetting collections, disc (total) 3 3 1
1900 Budget authority (total) 213 231 227
1930 Total budgetary resources available 256 268 271
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 32 39 44

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 177 189 151
3010 Obligations incurred, unexpired accounts 224 229 227
3020 Outlays (gross) –206 –262 –169
3040 Recoveries of prior year unpaid obligations, unexpired –6 –5 –5



3050 Unpaid obligations, end of year 189 151 204
Memorandum (non-add) entries:
3100 Obligated balance, start of year 177 189 151
3200 Obligated balance, end of year 189 151 204

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 212 230 226
Outlays, gross:
4010 Outlays from new discretionary authority 16 94 91
4011 Outlays from discretionary balances 190 167 77



4020 Outlays, gross (total) 206 261 168
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4033 Non-Federal sources –3 –3 –1
Mandatory:
4090 Budget authority, gross 1 1 1
Outlays, gross:
4101 Outlays from mandatory balances 1 1
4180 Budget authority, net (total) 210 228 226
4190 Outlays, net (total) 203 259 168

Memorandum (non-add) entries:
5010 Total investments, SOY: non-Fed securities: Market value 21 18
5011 Total investments, EOY: non-Fed securities: Market value 18

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


Identification code 20–1881–0–1–451 2013 actual 2014 est. 2015 est.

Direct loan levels supportable by subsidy budget authority:
115001 Community Development Financial Institutions Prog Fin Assist. 13 25 25
115002 Bond Guarantee Program 325 750 1,000



115999 Total direct loan levels 338 775 1,025
Direct loan subsidy (in percent):
132001 Community Development Financial Institutions Prog Fin Assist. 32.15 8.89 12.41
132002 Bond Guarantee Program –2.35 0.00 0.00



132999 Weighted average subsidy rate –1.02 0.29 0.30
Direct loan subsidy budget authority:
133001 Community Development Financial Institutions Prog Fin Assist. 4 3 3
133002 Bond Guarantee Program –8



133999 Total subsidy budget authority –4 3 3
Direct loan subsidy outlays:
134001 Community Development Financial Institutions Prog Fin Assist. 5 4 4



134999 Total subsidy outlays 5 4 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. –1 –8



137999 Total downward reestimate budget authority –1 –8

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 2001 when the Secretary of the Treasury delegated to the CDFI Fund the responsibility of administering the New Markets Tax Credit Program (NMTC Program), which spurs investment of new private sector capital into low-income communities.

The FY 2015 Budget provides funding for the CDFI Program (including the Healthy Food Financing Initiative) and the Native American CDFI Assistance Program. In addition, the Budget proposes to permanently reauthorize the NMTC Program in 2015 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 2017. 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), supports CDFI lending and investment activity by providing a source of long-term capital in low-income and underserved communities. The proceeds of guaranteed bonds will spur job creation among small businesses and entrepreneurs, and provide needed financing for infrastructure development projects such as community facilities and affordable housing. The Budget proposes to extend the program's authorization by one year, through FY 2015, at a $1 billion guarantee level.

Object Classification (in millions of dollars)


Identification code 20–1881–0–1–451 2013 actual 2014 est. 2015 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 8 8 8
12.1 Civilian personnel benefits 2 2 2
25.1 Advisory and assistance services 9 9 7
25.3 Other goods and services from Federal sources 6 6 5
25.5 Research and development contracts 2 2
41.0 Grants, subsidies, and contributions 198 202 200



99.0 Direct obligations 223 229 224
99.5 Below reporting threshold 1 3



99.9 Total new obligations 224 229 227

Employment Summary


Identification code 20–1881–0–1–451 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 76 76 73

Community Development Financial Institutions Fund Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4088–0–3–451 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 338 775 1,025
0713 Payment of interest to Treasury 1 1 1
0740 Negative subsidy obligations 8
0742 Downward reestimate paid to receipt account 1 7
0743 Interest on downward reestimates 1



0900 Total new obligations 348 784 1,026

Budgetary Resources:
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 343 782 1,022



1440 Borrowing authority, mandatory (total) 343 782 1,022
Spending authority from offsetting collections, mandatory:
1800 Collected 12 10 12
1801 Change in uncollected payments, Federal sources –2 –2 –2
1825 Spending authority from offsetting collections applied to repay debt –5 –6 –6



1850 Spending auth from offsetting collections, mand (total) 5 2 4
1900 Financing authority (total) 348 784 1,026
1930 Total budgetary resources available 348 784 1,026

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 14 346 1,112
3010 Obligations incurred, unexpired accounts 348 784 1,026
3020 Financing disbursements (gross) –16 –18 –80



3050 Unpaid obligations, end of year 346 1,112 2,058
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –6 –4 –2
3070 Change in uncollected pymts, Fed sources, unexpired 2 2 2



3090 Uncollected pymts, Fed sources, end of year –4 –2
Memorandum (non-add) entries:
3100 Obligated balance, start of year 8 342 1,110
3200 Obligated balance, end of year 342 1,110 2,058

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 348 784 1,026
Financing disbursements:
4110 Financing disbursements, gross 16 18 80
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –6 –4 –4
4123 Non-Federal sources - Interest repayments –6 –1 –1
4123 Non-Federal sources - Principal Repayments –5 –7



4130 Offsets against gross financing auth and disbursements (total) –12 –10 –12
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 2 2 2



4160 Financing authority, net (mandatory) 338 776 1,016
4170 Financing disbursements, net (mandatory) 4 8 68
4180 Financing authority, net (total) 338 776 1,016
4190 Financing disbursements, net (total) 4 8 68

Status of Direct Loans (in millions of dollars)


Identification code 20–4088–0–3–451 2013 actual 2014 est. 2015 est.

Position with respect to appropriations act limitation on obligations:
1111 Limitation on direct loans 338 775 1,025



1150 Total direct loan obligations 338 775 1,025

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 46 54 65
1231 Disbursements: Direct loan disbursements 14 18 68
1251 Repayments: Repayments and prepayments –5 –5 –8
1263 Write-offs for default: Direct loans –1 –2 –2



1290 Outstanding, end of year 54 65 123

As required by the Federal Credit Reform Act of 1990, this non-budgetary account records all cash flows to and from the government resulting from 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 2012 actual 2013 actual

ASSETS:
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 46 54
1405 Allowance for subsidy cost (-) –13 –17


1499 Net present value of assets related to direct loans 33 37


1999 Total assets 33 37
LIABILITIES:
2103 Federal liabilities: Debt 33 37


4999 Total liabilities and net position 33 37

Office of Financial Stability

Program and Financing (in millions of dollars)


Identification code 20–0128–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Direct program activity 277 204 171
0811 Reimbursable program (to GAO) 2 2 2
0812 Reimbursable program (to Treasury and Non-Treasury agencies) 15 14 11



0899 Total reimbursable obligations 17 16 13



0900 Total new obligations 294 220 184

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 305 220 184



1260 Appropriations, mandatory (total) 305 220 184
1900 Budget authority (total) 305 220 184
1930 Total budgetary resources available 305 220 184
Memorandum (non-add) entries:
1940 Unobligated balance expiring –11

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 164 186 53
3010 Obligations incurred, unexpired accounts 294 220 184
3011 Obligations incurred, expired accounts 2
3020 Outlays (gross) –248 –353 –191
3041 Recoveries of prior year unpaid obligations, expired –26



3050 Unpaid obligations, end of year 186 53 46
Memorandum (non-add) entries:
3100 Obligated balance, start of year 164 186 53
3200 Obligated balance, end of year 186 53 46

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 305 220 184
Outlays, gross:
4100 Outlays from new mandatory authority 153 176 147
4101 Outlays from mandatory balances 95 177 44



4110 Outlays, gross (total) 248 353 191
4180 Budget authority, net (total) 305 220 184
4190 Outlays, net (total) 248 353 191

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 2013 actual 2014 est. 2015 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 16 12 11
12.1 Civilian personnel benefits 5 4 3
21.0 Travel and transportation of persons 1 1 1
25.2 Other services from non-Federal sources 255 187 156



99.0 Direct obligations 277 204 171
99.0 Reimbursable obligations 17 16 13



99.9 Total new obligations 294 220 184

Employment Summary


Identification code 20–0128–0–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 116 103 86
2001 Reimbursable civilian full-time equivalent employment 17 23 20

Troubled Asset Relief Program Account

Program and Financing (in millions of dollars)


Identification code 20–0132–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0706 Interest on reestimates of direct loan subsidy 43 82



0900 Total new obligations (object class 41.0) 43 82

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 43 82



1260 Appropriations, mandatory (total) 43 82
1930 Total budgetary resources available 43 82

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 43
3010 Obligations incurred, unexpired accounts 43 82
3020 Outlays (gross) –43 –82
3041 Recoveries of prior year unpaid obligations, expired –43
Memorandum (non-add) entries:
3100 Obligated balance, start of year 43

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 43 82
Outlays, gross:
4100 Outlays from new mandatory authority 43 82
4180 Budget authority, net (total) 43 82
4190 Outlays, net (total) 43 82

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


Identification code 20–0132–0–1–376 2013 actual 2014 est. 2015 est.

Direct loan subsidy outlays:
134002 Term-Asset Backed Securities Loan Facility (TALF) –55



134999 Total subsidy outlays –55
Direct loan upward reestimates:
135003 Small Business Lending Initiative—7(a) purchases 1
135004 Legacy Securities Public-Private Investment Program 42 82



135999 Total upward reestimate budget authority 43 82
Direct loan downward reestimates:
137001 Automotive Industry Financing Program –3,036 –1,813
137002 Term-Asset Backed Securities Loan Facility (TALF) –109 –14
137003 Small Business Lending Initiative—7(a) purchases –2
137004 Legacy Securities Public-Private Investment Program –192 –86



137999 Total downward reestimate budget authority –3,339 –1,913
Guaranteed loan subsidy outlays:
234001 Asset Guarantee Program –94



234999 Total subsidy outlays –94
Guaranteed loan downward reestimates:
237001 Asset Guarantee Program –233



237999 Total downward reestimate subsidy budget authority –233

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 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 320 986 169
0739 Disposition Fees 6
0741 Modification savings 55
0742 Downward reestimate paid to receipt account 1,862 818
0743 Interest on downward reestimates 1,477 1,094



0900 Total new obligations 3,720 2,898 169

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1,377 908 1
1021 Recoveries of prior year unpaid obligations 4,650 4
1023 Unobligated balances applied to repay debt –3,359 –908
1024 Unobligated balance of borrowing authority withdrawn –2,611



1050 Unobligated balance (total) 57 4 1
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 1,826



1440 Borrowing authority, mandatory (total) 1,826
Spending authority from offsetting collections, mandatory:
1800 Offsetting collections 18,514 4,930 998
1801 Change in uncollected payments, Federal sources –43
1825 Spending authority from offsetting collections applied to repay debt –13,900 –3,861 –830



1850 Spending auth from offsetting collections, mand (total) 4,571 1,069 168
1900 Financing authority (total) 4,571 2,895 168
1930 Total budgetary resources available 4,628 2,899 169
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 908 1

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 4,650 4 196
3010 Obligations incurred, unexpired accounts 3,720 2,898 169
3020 Financing disbursements (gross) –3,716 –2,702 –8
3040 Recoveries of prior year unpaid obligations, unexpired –4,650 –4



3050 Unpaid obligations, end of year 4 196 357
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –43
3070 Change in uncollected pymts, Fed sources, unexpired 43
Memorandum (non-add) entries:
3100 Obligated balance, start of year 4,607 4 196
3200 Obligated balance, end of year 4 196 357

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 4,571 2,895 168
Financing disbursements:
4110 Financing disbursements, gross 3,716 2,702 8
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –43 –82
4122 Interest on uninvested funds –70 –422 –86
4123 Principal –5,807 –827
4123 Interest –32
4123 Warrants –570 –68 –33
4123 Sale of Stock –11,992 –3,531 –879



4130 Offsets against gross financing auth and disbursements (total) –18,514 –4,930 –998
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 43



4160 Financing authority, net (mandatory) –13,900 –2,035 –830
4170 Financing disbursements, net (mandatory) –14,798 –2,228 –990
4180 Financing authority, net (total) –13,900 –2,035 –830
4190 Financing disbursements, net (total) –14,798 –2,228 –990

Status of Direct Loans (in millions of dollars)


Identification code 20–4277–0–3–376 2013 actual 2014 est. 2015 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 6,634 827
1251 Repayments: Repayments and prepayments –5,807 –827



1290 Outstanding, end of year 827

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 2012 actual 2013 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 3,372 911
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 22,653 5,301
1401 Direct loans receivable, gross 6,634 827
1405 Allowance for subsidy cost (-) –7,115 1,109
1405 Allowance for subsidy cost (-) –4,252 –2,346


1499 Net present value of assets related to direct loans 17,920 4,891


1999 Total assets 21,292 5,802
LIABILITIES:
Federal liabilities:
2104 Resources payable to Treasury 21,292 4,034
2105 Other 1,768


2999 Total upward reestimate subsidy BA [20–0132] 21,292 5,802


4999 Total liabilities and net position 21,292 5,802

Troubled Assets Insurance Financing Fund Guaranteed Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4276–0–3–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 11
0741 Modification savings 94
0742 Downward reestimate paid to receipt account 187
0743 Interest on downward reestimates 46



0900 Total new obligations 338

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 2
1023 Unobligated balances applied to repay debt –2
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 1,096
1825 Spending authority from offsetting collections applied to repay debt –758



1850 Spending auth from offsetting collections, mand (total) 338
1900 Financing authority (total) 338
1930 Total budgetary resources available 338

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 338
3020 Financing disbursements (gross) –338

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 338
Financing disbursements:
4110 Financing disbursements, gross 338
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4122 Interest on uninvested funds –3
4123 Dividends –1,093



4130 Offsets against gross financing auth and disbursements (total) –1,096



4160 Financing authority, net (mandatory) –758
4170 Financing disbursements, net (mandatory) –758
4180 Financing authority, net (total) –758
4190 Financing disbursements, net (total) –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 2012 actual 2013 actual

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


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


4999 Total liabilities and net position 833

Troubled Asset Relief Program Equity Purchase Program

Program and Financing (in millions of dollars)


Identification code 20–0134–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0705 Reestimates of direct loan subsidy 339
0706 Interest on reestimates of direct loan subsidy 101



0900 Total new obligations (object class 41.0) 440

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 440



1260 Appropriations, mandatory (total) 440
1930 Total budgetary resources available 440

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 306 226
3010 Obligations incurred, unexpired accounts 440
3020 Outlays (gross) –440
3041 Recoveries of prior year unpaid obligations, expired –80 –226



3050 Unpaid obligations, end of year 226
Memorandum (non-add) entries:
3100 Obligated balance, start of year 306 226
3200 Obligated balance, end of year 226

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 440
Outlays, gross:
4100 Outlays from new mandatory authority 440
4180 Budget authority, net (total) 440
4190 Outlays, net (total) 440

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


Identification code 20–0134–0–1–376 2013 actual 2014 est. 2015 est.

Direct loan upward reestimates:
135005 Legacy Securities Public-Private Investment Program 440



135999 Total upward reestimate budget authority 440
Direct loan downward reestimates:
137001 Capital Purchase Program –1,846 –994
137002 AIG Investments –7,169
137004 Automotive Industry Financing Program (Equity) –468 –4,755
137005 Legacy Securities Public-Private Investment Program –542
137006 Community Development Capital Initiative –13 –26



137999 Total downward reestimate budget authority –9,496 –6,317

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 have resulted in significant financial market disruptions, threatened the financial strength of similarly situated financial institutions, impaired broader financial markets, and undermined 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 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 525 1,575 510
0739 Disposition Fees 20 8
0742 Downward reestimate paid to receipt account 8,129 3,399
0743 Interest on downward reestimates 1,367 2,918



0900 Total new obligations 10,041 7,900 510

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 16,241 538
1021 Recoveries of prior year unpaid obligations 291 989
1023 Unobligated balances applied to repay debt –14,377 –1,527



1050 Unobligated balance (total) 2,155
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 208 1,771



1440 Borrowing authority, mandatory (total) 208 1,771
Spending authority from offsetting collections, mandatory:
1800 Collected 16,988 9,445 4,574
1801 Change in uncollected payments, Federal sources –80 –226
1825 Spending authority from offsetting collections applied to repay debt –8,692 –3,090 –4,064



1850 Spending auth from offsetting collections, mand (total) 8,216 6,129 510
1900 Financing authority (total) 8,424 7,900 510
1930 Total budgetary resources available 10,579 7,900 510
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 538

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1,276 989
3010 Obligations incurred, unexpired accounts 10,041 7,900 510
3020 Financing disbursements (gross) –10,037 –7,900 –510
3040 Recoveries of prior year unpaid obligations, unexpired –291 –989



3050 Unpaid obligations, end of year 989
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –306 –226
3070 Change in uncollected pymts, Fed sources, unexpired 80 226



3090 Uncollected pymts, Fed sources, end of year –226
Memorandum (non-add) entries:
3100 Obligated balance, start of year 970 763
3200 Obligated balance, end of year 763

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 8,424 7,900 510
Financing disbursements:
4110 Financing disbursements, gross 10,037 7,900 510
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –440
4122 Interest on uninvested funds –162 –114 –398
4123 Dividends –1,061 –243 –106
4123 Warrants –1,387 –570 –54
4123 Redemption –13,938 –8,518 –4,016



4130 Offsets against gross financing auth and disbursements (total) –16,988 –9,445 –4,574
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 80 226



4160 Financing authority, net (mandatory) –8,484 –1,319 –4,064
4170 Financing disbursements, net (mandatory) –6,951 –1,545 –4,064
4180 Financing authority, net (total) –8,484 –1,319 –4,064
4190 Financing disbursements, net (total) –6,951 –1,545 –4,064

Status of Direct Loans (in millions of dollars)


Identification code 20–4278–0–3–376 2013 actual 2014 est. 2015 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 33,786 17,368 5,638
1251 Repayments: Repayments and prepayments –13,938 –8,518 –4,016
1263 Write-offs for default: Direct loans –2,480 –3,212 –590



1290 Outstanding, end of year 17,368 5,638 1,032

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 2012 actual 2013 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 17,212 1,302
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 33,786 17,368
1405 Allowance for subsidy cost (-) –4,240
1405 Allowance for subsidy cost (-) –20,221 –149


1499 Net present value of assets related to direct loans 13,565 12,979


1999 Total assets 30,777 14,281
LIABILITIES:
Federal liabilities:
2103 Debt 30,776 14,280
2105 Other 1 1


2999 Total liabilities 30,777 14,281


4999 Total liabilities and net position 30,777 14,281

Troubled Asset Relief Program, Housing Programs

Program and Financing (in millions of dollars)


Identification code 20–0136–0–1–604 2013 actual 2014 est. 2015 est.

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 40,035 28,996 23,822
3020 Outlays (gross) –3,943 –5,174 –6,174
3041 Recoveries of prior year unpaid obligations, expired –7,096 –936



3050 Unpaid obligations, end of year 28,996 23,822 16,712
Memorandum (non-add) entries:
3100 Obligated balance, start of year 40,035 28,996 23,822
3200 Obligated balance, end of year 28,996 23,822 16,712

Budget authority and outlays, net:
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 3,943 5,174 6,174
4190 Outlays, net (total) 3,943 5,174 6,174

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


Identification code 20–0136–0–1–604 2013 actual 2014 est. 2015 est.

Guaranteed loan levels supportable by subsidy budget authority:
215001 FHA Refi Letter of Credit 183



215999 Total loan guarantee levels 183
Guaranteed loan subsidy (in percent):
232001 FHA Refi Letter of Credit 2.48 0.00 0.00



232999 Weighted average subsidy rate 2.48 0.00 0.00
Guaranteed loan subsidy budget authority:
233001 FHA Refi Letter of Credit 5



233999 Total subsidy budget authority 5
Guaranteed loan subsidy outlays:
234001 FHA Refi Letter of Credit 5



234999 Total subsidy outlays 5
Guaranteed loan downward reestimates:
237001 FHA Refi Letter of Credit –2



237999 Total downward reestimate subsidy budget authority –2

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). On May 30, 2013, the Administration extended the application deadline for MHA programs to December 31, 2015. 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 2.1 million borrowers have been offered trial modifications under MHA, and nearly 1.3 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 2015, 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 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0711 Default claim payments on principal 2 2
0713 Payment of interest to Treasury 1 1
0742 Downward reestimate paid to receipt account 2



0900 Total new obligations 1 4 3

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 10 14 10
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 5



1850 Spending auth from offsetting collections, mand (total) 5
1930 Total budgetary resources available 15 14 10
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 14 10 7

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 2
3010 Obligations incurred, unexpired accounts 1 4 3
3020 Financing disbursements (gross) –1 –2 –3



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

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 5
Financing disbursements:
4110 Financing disbursements, gross 1 2 3
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –5
4190 Financing disbursements, net (total) –4 2 3

Status of Guaranteed Loans (in millions of dollars)


Identification code 20–4329–0–3–371 2013 actual 2014 est. 2015 est.

Position with respect to appropriations act limitation on commitments:
2131 Guaranteed loan commitments exempt from limitation 183



2150 Total guaranteed loan commitments 183

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 307 489 461
2231 Disbursements of new guaranteed loans 183
2251 Repayments and prepayments –26 –23
2263 Adjustments: Terminations for default that result in claim payments –1 –2 –2



2290 Outstanding, end of year 489 461 436

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 57 55

Balance Sheet (in millions of dollars)


Identification code 20–4329–0–3–371 2012 actual 2013 actual

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


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


4999 Total liabilities and net position 11 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] $34,234,000. (Department of the Treasury Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 20–0133–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Direct program activity 41 43 46

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 34 33 25
Budget authority:
Appropriations, discretionary:
1100 Appropriation 42 35 34



1160 Appropriation, discretionary (total) 42 35 34
1900 Budget authority (total) 42 35 34
1930 Total budgetary resources available 76 68 59
Memorandum (non-add) entries:
1940 Unobligated balance expiring –2
1941 Unexpired unobligated balance, end of year 33 25 13

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 10 11 9
3010 Obligations incurred, unexpired accounts 41 43 46
3020 Outlays (gross) –40 –45 –46



3050 Unpaid obligations, end of year 11 9 9
Memorandum (non-add) entries:
3100 Obligated balance, start of year 10 11 9
3200 Obligated balance, end of year 11 9 9

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 42 35 34
Outlays, gross:
4010 Outlays from new discretionary authority 34 28 27
4011 Outlays from discretionary balances 4 8 7



4020 Outlays, gross (total) 38 36 34
Mandatory:
Outlays, gross:
4101 Outlays from mandatory balances 2 9 12
4180 Budget authority, net (total) 42 35 34
4190 Outlays, net (total) 40 45 46

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) was established by Section 121 of the Emergency Economic Stabilization Act of 2008 (EESA). SIGTARP is the only agency solely charged with the mission of transparency, oversight, and robust 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 2015, 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 2013 actual 2014 est. 2015 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 20 20 23
11.5 Other personnel compensation 2 2 2



11.9 Total personnel compensation 22 22 25
12.1 Civilian personnel benefits 6 6 7
21.0 Travel and transportation of persons 1 1 1
25.1 Advisory and assistance services 4 3 3
25.2 Other services from non-Federal sources 1 1
25.3 Other goods and services from Federal sources 8 10 9



99.9 Total new obligations 41 43 46

Employment Summary


Identification code 20–0133–0–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 168 192 192

Small Business Lending Fund Program Account

Program and Financing (in millions of dollars)


Identification code 20–0141–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0705 Reestimates of direct loan subsidy 32 25
0706 Interest on reestimates of direct loan subsidy 1 2
0709 Administrative expenses 19 20 17



0900 Total new obligations 52 47 17

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 7
1021 Recoveries of prior year unpaid obligations 8



1050 Unobligated balance (total) 8 7
Budget authority:
Appropriations, mandatory:
1200 Appropriation 53 47 17
1230 Appropriations and/or unobligated balance of appropriations permanently reduced –1 –1



1260 Appropriations, mandatory (total) 52 46 17
1930 Total budgetary resources available 52 54 24
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 7 7

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 17 19 7
3010 Obligations incurred, unexpired accounts 52 47 17
3020 Outlays (gross) –50 –51 –22
3040 Recoveries of prior year unpaid obligations, unexpired –8



3050 Unpaid obligations, end of year 19 7 2
Memorandum (non-add) entries:
3100 Obligated balance, start of year 17 19 7
3200 Obligated balance, end of year 19 7 2

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 52 46 17
Outlays, gross:
4100 Outlays from new mandatory authority 47 46 14
4101 Outlays from mandatory balances 3 5 8



4110 Outlays, gross (total) 50 51 22
4180 Budget authority, net (total) 52 46 17
4190 Outlays, net (total) 50 51 22

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


Identification code 20–0141–0–1–376 2013 actual 2014 est. 2015 est.

Direct loan upward reestimates:
135001 Small Business Lending Fund Investments 34 27



135999 Total upward reestimate budget authority 34 27
Direct loan downward reestimates:

Administrative expense data:
3510 Budget authority 25 20 17
3580 Outlays from balances 3 3 4
3590 Outlays from new authority 13 15 10

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 $17 million for 2015.

Object Classification (in millions of dollars)


Identification code 20–0141–0–1–376 2013 actual 2014 est. 2015 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 3 2 2
12.1 Civilian personnel benefits 1 1 1
25.1 Advisory and assistance services 2 2 2
25.2 Other services from non-Federal sources 11 12 9
25.3 Other goods and services from Federal sources 2 3 3
41.0 Grants, subsidies, and contributions 32 25
43.0 Interest and dividends 1 2



99.9 Total new obligations 52 47 17

Employment Summary


Identification code 20–0141–0–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 24 19 19

Small Business Lending Fund Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4349–0–3–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 82 76 76



0900 Total new obligations 82 76 76

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 78 73 100
1023 Unobligated balances applied to repay debt –78



1050 Unobligated balance (total) 73 100
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 477 484 457
1825 Spending authority from offsetting collections applied to repay debt –322 –381 –381



1850 Spending auth from offsetting collections, mand (total) 155 103 76
1900 Financing authority (total) 155 103 76
1930 Total budgetary resources available 155 176 176
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 73 100 100

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 82 76 76
3020 Financing disbursements (gross) –82 –76 –76

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 155 103 76
Financing disbursements:
4110 Financing disbursements, gross 82 76 76
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources - Upward Reestimates –33 –27
4122 Interest on uninvested funds –4 –1 –1
4123 Non-Federal sources - Principal –347 –387 –387
4123 Non-Federal sources - Dividends –93 –69 –69



4130 Offsets against gross financing auth and disbursements (total) –477 –484 –457



4160 Financing authority, net (mandatory) –322 –381 –381
4170 Financing disbursements, net (mandatory) –395 –408 –381
4180 Financing authority, net (total) –322 –381 –381
4190 Financing disbursements, net (total) –395 –408 –381

Status of Direct Loans (in millions of dollars)


Identification code 20–4349–0–3–376 2013 actual 2014 est. 2015 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 3,980 3,633 3,233
1251 Repayments: Repayments and prepayments –347 –387 –387
1263 Write-offs for default: Direct loans –13 –13



1290 Outstanding, end of year 3,633 3,233 2,833

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 SBLF obligations. 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 2012 actual 2013 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 78 73
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 3,980 3,633
1405 Allowance for subsidy cost (-) 54 6


1499 Net present value of assets related to direct loans 4,034 3,639


1999 Total assets 4,112 3,712
LIABILITIES:
2103 Federal liabilities: Debt 4,112 3,712


4999 Total liabilities and net position 4,112 3,712

State Small Business Credit Initiative

Program and Financing (in millions of dollars)


Identification code 20–0142–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Administrative Costs 7 8 7
0002 SSBCI program activity 13



0900 Total new obligations 20 8 7

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 43 26 21
1021 Recoveries of prior year unpaid obligations 2 3



1050 Unobligated balance (total) 45 29 21
Budget authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 1



1850 Spending auth from offsetting collections, mand (total) 1
1900 Budget authority (total) 1
1930 Total budgetary resources available 46 29 21
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 26 21 14

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 920 557 165
3010 Obligations incurred, unexpired accounts 20 8 7
3020 Outlays (gross) –381 –397 –147
3040 Recoveries of prior year unpaid obligations, unexpired –2 –3



3050 Unpaid obligations, end of year 557 165 25
Memorandum (non-add) entries:
3100 Obligated balance, start of year 920 557 165
3200 Obligated balance, end of year 557 165 25

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 1
Outlays, gross:
4101 Outlays from mandatory balances 381 397 147
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123 Non-Federal sources –1
4190 Outlays, net (total) 380 397 147

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


2013 actual 2014 est. 2015 est.

Enacted/requested:
Outlays 380 397 147
Legislative proposal, subject to PAYGO:
Budget Authority 1,500
Outlays 277
Total:
Budget Authority 1,500
Outlays 380 397 424

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. 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 has allowed 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. The first round of funding is already having an impact, with the first $271 million in program expenditures supporting lending and investments of $1.9 billion to more than 4,600 small businesses across the country—creating or saving more than 53,000 American jobs. The $1.5 billion original investment is expected to result in up to $15 billion in new lending to small businesses in participating States.

The President's Budget proposes a new authorization of $1.5 billion for SSBCI to build on the momentum of the program's first round and strengthen the Federal government's relationships with state economic development agencies, which are highly responsive to capital needs in local markets. This additional $1.5 billion would be awarded in two allocations: $1 billion awarded on a competitive basis to states best able to target underserved groups, leverage Federal funding, and evaluate results and $500 million awarded according to a need-based formula based on economic factors such as job losses and pace of economic recovery.

Object Classification (in millions of dollars)


Identification code 20–0142–0–1–376 2013 actual 2014 est. 2015 est.

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



99.9 Total new obligations 20 8 7

Employment Summary


Identification code 20–0142–0–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 11 12 11

State Small Business Credit Initiative

(Legislative proposal, subject to PAYGO)

Program and Financing (in millions of dollars)


Identification code 20–0142–4–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Administrative Costs 3
0002 SSBCI program activity 471



0900 Total new obligations 474

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1,500
Budget authority:
Appropriations, mandatory:
1200 Appropriation 1,500



1260 Appropriations, mandatory (total) 1,500
1900 Budget authority (total) 1,500
1930 Total budgetary resources available 1,500 1,500
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1,500 1,026

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 474
3020 Outlays (gross) –277



3050 Unpaid obligations, end of year 197
Memorandum (non-add) entries:
3200 Obligated balance, end of year 197

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 1,500
Outlays, gross:
4101 Outlays from mandatory balances 277
4180 Budget authority, net (total) 1,500
4190 Outlays, net (total) 277

Object Classification (in millions of dollars)


Identification code 20–0142–4–1–376 2013 actual 2014 est. 2015 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 1
25.1 Advisory and assistance services 2
41.0 Grants, subsidies, and contributions 471



99.9 Total new obligations 474

Employment Summary


Identification code 20–0142–4–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 5

GSE Preferred Stock Purchase Agreements

Program and Financing (in millions of dollars)


Identification code 20–0125–0–1–371 2013 actual 2014 est. 2015 est.

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 212,515 258,050 258,050
Budget authority:
Appropriations, mandatory:
1200 Appropriation 45,535



1260 Appropriations, mandatory (total) 45,535
1930 Total budgetary resources available 258,050 258,050 258,050
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 258,050 258,050 258,050

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 45,535
4180 Budget authority, net (total) 45,535

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 Senior 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. Based on the financial results reported by each GSE as of December 31, 2012, and under the terms of the PSPAs, the cumulative funding commitment cap for Fannie Mae and Freddie Mac was set at $445.5 billion. Treasury's authority to purchase obligations or other securities of the GSEs or to increase the funding commitment expired on December 31, 2009. Under the PSPAs, Treasury has maintained the solvency of the GSEs by providing $187.5 billion of investment to the GSEs. The PSPAs also require the GSEs to pay dividends to Treasury that are recorded as offsetting receipts and are not reflected in this expenditure account. Through December 31, 2013, the GSEs have paid $185.2 billion in dividend payments to Treasury on the senior preferred stock.

GSE Mortgage-Backed Securities Purchase Program Account

Program and Financing (in millions of dollars)


Identification code 20–0126–0–1–371 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0010 Financial Agent Services 7 8 9
Credit program obligations:
0703 Subsidy for modifications of direct loans 47
0705 Reestimates of direct loan subsidy 432
0706 Interest on reestimates of direct loan subsidy 105



0791 Direct program activities, subtotal 584



0900 Total new obligations 591 8 9

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 583
1221 Appropriations transferred from other accts [20–1802] 11 9 9
1230 Appropriations and/or unobligated balance of appropriations permanently reduced –1



1260 Appropriations, mandatory (total) 594 8 9
1900 Budget authority (total) 594 8 9
1930 Total budgetary resources available 594 8 9
Memorandum (non-add) entries:
1940 Unobligated balance expiring –3

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 10 56 3
3010 Obligations incurred, unexpired accounts 591 8 9
3020 Outlays (gross) –545 –61 –9



3050 Unpaid obligations, end of year 56 3 3
Memorandum (non-add) entries:
3100 Obligated balance, start of year 10 56 3
3200 Obligated balance, end of year 56 3 3

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 594 8 9
Outlays, gross:
4100 Outlays from new mandatory authority 543 8 9
4101 Outlays from mandatory balances 2 53



4110 Outlays, gross (total) 545 61 9
4180 Budget authority, net (total) 594 8 9
4190 Outlays, net (total) 545 61 9

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


Identification code 20–0126–0–1–371 2013 actual 2014 est. 2015 est.

Direct loan upward reestimates:
135001 GSE MBS Purchases 55
135002 New Issue Bond Program SF 461
135003 New Issue Bond Program MF 21



135999 Total upward reestimate budget authority 537
Direct loan downward reestimates:
137001 GSE MBS Purchases –760
137002 New Issue Bond Program SF –56
137003 New Issue Bond Program MF –17



137999 Total downward reestimate budget authority –760 –73

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.

Beginning in December 2009, Treasury implemented two additional programs as part of the Housing Finance Agencies Initiative to support State and local housing financing agencies (HFAs). Treasury purchased a participation interest in the Fannie Mae and Freddie Mac Temporary Credit and Liquidity Facilities to establish the Temporary Credit and Liquidity Program (TCLP), which provides HFAs with credit and liquidity facilities supporting up to $8.2 billion in existing HFA bonds, and temporarily replaces private market facilities that were expiring or imposing unusually high costs to the HFAs due to market conditions. The TCLP was originally to remain open to the end of calendar year 2012, but due to continued strain on the market for HFA liquidity facilities, Treasury granted an extension to the end of the calendar year 2015 for six HFAs.

Under the New Issuance Bond Program (NIBP) Treasury purchased $15.3 billion in securities of Fannie Mae and Freddie Mac backed by new HFA housing bonds, supporting over 135,000 of new mortgages and 40,000 rental housing units for working families. The original deadline for HFAs to use NIBP funds was December 31, 2010, but Treasury granted two one-year extensions until the end of 2012. 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). As required by the Federal Credit Reform Act of 1990, this account records the subsidy costs associated with the GSE MBS purchase and State HFA 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 2013 actual 2014 est. 2015 est.

Direct obligations:
25.1 Advisory and assistance services 7 8 9
41.0 Grants, subsidies, and contributions 584



99.9 Total new obligations 591 8 9

GSE Mortgage-Backed Securities Purchase Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4272–0–3–371 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0742 Downward reestimate paid to receipt account 752
0743 Interest on downward reestimates 8



0900 Total new obligations 760

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 705
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 55



1850 Spending auth from offsetting collections, mand (total) 55
1900 Financing authority (total) 55
1930 Total budgetary resources available 760

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 760
3020 Financing disbursements (gross) –760

Financing authority and disbursements, net:
Mandatory:
4090 Budget authority, gross 55
Financing disbursements:
4110 Financing disbursements, gross 760
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources Upward Reestimate (Interest) –55
4190 Financing disbursements, net (total) 705

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. The MBS Purchase Program is now closed and all activity in this account has ceased as of September 30, 2013.

Balance Sheet (in millions of dollars)


Identification code 20–4272–0–3–371 2012 actual 2013 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 705 705


1999 Total assets 705 705
LIABILITIES:
2105 Federal liabilities: Other Liabilities without Related Budgetary Obligations 705 705


2999 Total liabilities 705 705


4999 Total liabilities and net position 705 705

State HFA Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 20–4298–0–3–371 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0713 Payment of interest to Treasury 431 329 307
0742 Downward reestimate paid to receipt account 63
0743 Interest on downward reestimates 10



0900 Total new obligations 431 402 307

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 377 431
1021 Recoveries of prior year unpaid obligations 2,135
1023 Unobligated balances applied to repay debt –485 –431
1024 Unobligated balance of borrowing authority withdrawn –1,991



1050 Unobligated balance (total) 36
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 5,229 934 910
1801 Change in uncollected payments, Federal sources 47
1825 Spending authority from offsetting collections applied to repay debt –4,450 –532 –603



1850 Spending auth from offsetting collections, mand (total) 826 402 307
1900 Financing authority (total) 826 402 307
1930 Total budgetary resources available 862 402 307
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 431

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 4,421 2,286 2,286
3010 Obligations incurred, unexpired accounts 431 402 307
3020 Financing disbursements (gross) –431 –402 –307
3040 Recoveries of prior year unpaid obligations, unexpired –2,135



3050 Unpaid obligations, end of year 2,286 2,286 2,286
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –6 –53 –53
3070 Change in uncollected pymts, Fed sources, unexpired –47



3090 Uncollected pymts, Fed sources, end of year –53 –53 –53
Memorandum (non-add) entries:
3100 Obligated balance, start of year 4,415 2,233 2,233
3200 Obligated balance, end of year 2,233 2,233 2,233

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 826 402 307
Financing disbursements:
4110 Financing disbursements, gross 431 402 307
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources –482
4122 Interest on uninvested funds –36 –20 –20
4123 Non-Federal sources - Interest –335 –254 –237
4123 Non-Federal sources - Principal –4,349 –646 –644
4123 Non-Federal sources - Other –27 –14 –9



4130 Offsets against gross financing auth and disbursements (total) –5,229 –934 –910
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired –47



4160 Financing authority, net (mandatory) –4,450 –532 –603
4170 Financing disbursements, net (mandatory) –4,798 –532 –603
4180 Financing authority, net (total) –4,450 –532 –603
4190 Financing disbursements, net (total) –4,798 –532 –603

Status of Direct Loans (in millions of dollars)


Identification code 20–4298–0–3–371 2013 actual 2014 est. 2015 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 13,683 9,335 8,689
1231 Disbursements: Direct loan disbursements
1251 Repayments: Repayments and prepayments –4,348 –646 –644



1290 Outstanding, end of year 9,335 8,689 8,045

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 2012 actual 2013 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 658 520
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 13,683 9,335
1405 Allowance for subsidy cost (-) –539 –916


1499 Net present value of assets related to direct loans 13,144 8,419


1999 Total assets 13,802 8,939
LIABILITIES:
2103 Federal liabilities: Debt 13,802 8,939


4999 Total liabilities and net position 13,802 8,939

Trust Funds

Capital Magnet Fund, Community Develpment Financial Institutions

Gifts and Bequests

Program and Financing (in millions of dollars)


Identification code 20–8790–0–7–803 2013 actual 2014 est. 2015 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 1
5001 Total investments, EOY: Federal securities: Par value 1 1 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; services authorized by 5 U.S.C. 3109; not to exceed $14,000 for official reception and representation expenses; and for assistance to Federal law enforcement agencies, with or without reimbursement, [$112,000,000] $108,661,000, of which not to exceed $34,335,000 shall remain available until September 30, [2016] 2017. (Department of the Treasury Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 20–0173–0–1–751 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 BSA administration and Analysis 97 112 109
0801 Reimbursable program 1 3 3



0900 Total new obligations 98 115 112

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 32 40 40
Budget authority:
Appropriations, discretionary:
1100 Appropriation 111 112 109
1130 Appropriations permanently reduced –6



1160 Appropriation, discretionary (total) 105 112 109
Spending authority from offsetting collections, discretionary:
1700 Collected 3 3
1701 Change in uncollected payments, Federal sources 2



1750 Spending auth from offsetting collections, disc (total) 2 3 3
1900 Budget authority (total) 107 115 112
1930 Total budgetary resources available 139 155 152
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1
1941 Unexpired unobligated balance, end of year 40 40 40

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 35 23 23
3010 Obligations incurred, unexpired accounts 98 115 112
3011 Obligations incurred, expired accounts 3
3020 Outlays (gross) –109 –115 –113
3041 Recoveries of prior year unpaid obligations, expired –4



3050 Unpaid obligations, end of year 23 23 22
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –7 –3 –3
3070 Change in uncollected pymts, Fed sources, unexpired –2
3071 Change in uncollected pymts, Fed sources, expired 6



3090 Uncollected pymts, Fed sources, end of year –3 –3 –3
Memorandum (non-add) entries:
3100 Obligated balance, start of year 28 20 20
3200 Obligated balance, end of year 20 20 19

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 107 115 112
Outlays, gross:
4010 Outlays from new discretionary authority 67 87 85
4011 Outlays from discretionary balances 42 28 28



4020 Outlays, gross (total) 109 115 113
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Federal sources –6 –3 –3
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –2
4052 Offsetting collections credited to expired accounts 6



4060 Additional offsets against budget authority only (total) 4



4070 Budget authority, net (discretionary) 105 112 109
4080 Outlays, net (discretionary) 103 112 110
4180 Budget authority, net (total) 105 112 109
4190 Outlays, net (total) 103 112 110

The mission of FinCEN is to safeguard the financial system from illicit use and 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 2013 actual 2014 est. 2015 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 34 40 41
12.1 Civilian personnel benefits 10 11 12
21.0 Travel and transportation of persons 1 1 1
23.1 Rental payments to GSA 5 6 6
23.3 Communications, utilities, and miscellaneous charges 1 2 2
25.1 Advisory and assistance services 4 1 1
25.2 Other services from non-Federal sources 8 15 12
25.3 Other goods and services from Federal sources 9 8 8
25.4 Operation and maintenance of facilities 1 1 1
25.7 Operation and maintenance of equipment 18 18 18
26.0 Supplies and materials 1 1 1
31.0 Equipment 5 8 6



99.0 Direct obligations 97 112 109
99.0 Reimbursable obligations 1 3 3



99.9 Total new obligations 98 115 112

Employment Summary


Identification code 20–0173–0–1–751 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 300 345 345
2001 Reimbursable civilian full-time equivalent employment 2 1 1

Fiscal Service

Federal Funds

Salaries and Expenses

For necessary expenses of operations of the Bureau of the Fiscal Service, [$360,165,000] $348,184,000; of which not to exceed $4,210,000, to remain available until September 30, [2016] 2017, is for information systems modernization initiatives; [of which $8,740,000 shall remain available until September 30, 2016 for expenses related to the consolidation of the 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. (Department of the Treasury Appropriations Act, 2014.)

Special and Trust Fund Receipts (in millions of dollars)


Identification code 20–0520–0–1–800 2013 actual 2014 est. 2015 est.

0100 Balance, start of year 3 9 34
Receipts:
0220 Debt Collection, Non-federal Receipts 113 96 96
0240 Debt Collection, Federal Receipts 17 17



0299 Total receipts and collections 113 113 113



0400 Total: Balances and collections 116 122 147
Appropriations:
0500 Salaries and Expenses –113 –83 –105
0501 Salaries and Expenses –6
0502 Salaries and Expenses 6 1



0599 Total appropriations –107 –88 –105



0799 Balance, end of year 9 34 42

Program and Financing (in millions of dollars)


Identification code 20–0520–0–1–800 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Collections 23 22 24
0002 Debt Collection 95 88 105
0003 DoNOT Pay Business Center 8 5 5
0004 Government Agency Investment Services 16 14 13
0005 Government-wide Accounting and Reporting 84 65 65
0006 Payments 108 127 122
0007 Retail Securities Services 107 101 95
0008 Summary Debt Accounting 18 5 4
0009 Wholesale Securities Services 15 22 19



0799 Total direct obligations 474 449 452
0801 Reimbursable program activity 157 150 137



0900 Total new obligations 631 599 589

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 114 114 118
1001 Discretionary unobligated balance brought fwd, Oct 1 114
1012 Unobligated balance transfers between expired and unexpired accounts 1 3 3
1021 Recoveries of prior year unpaid obligations 2 2



1050 Unobligated balance (total) 115 119 123
Budget authority:
Appropriations, discretionary:
1100 Appropriation 391 360 348
1120 Appropriations transferred to other accts [20–0520] –5 –5 –5
1121 Appropriations transferred from other accts [20–0520] 5 5 5
1130 Appropriations permanently reduced –20



1160 Appropriation, discretionary (total) 371 360 348
Appropriations, mandatory:
1201 Special Fund 20–5445 113 83 105
1203 Appropriation (previously unavailable) 6
1232 Appropriations and/or unobligated balance of appropriations temporarily reduced –6 –1



1260 Appropriations, mandatory (total) 107 88 105
Spending authority from offsetting collections, discretionary:
1700 Collected 134 150 137
1701 Change in uncollected payments, Federal sources 23



1750 Spending auth from offsetting collections, disc (total) 157 150 137
1900 Budget authority (total) 635 598 590
1930 Total budgetary resources available 750 717 713
Memorandum (non-add) entries:
1940 Unobligated balance expiring –5
1941 Unexpired unobligated balance, end of year 114 118 124
Special and non-revolving trust funds:
1951 Unobligated balance expiring 1 2 2
1952 Expired unobligated balance, start of year 6 4 4
1953 Expired unobligated balance, end of year 6 4 4
1955 Unobligated balances withdrawn and returned to general fund 2

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 109 135 143
3010 Obligations incurred, unexpired accounts 631 599 589
3011 Obligations incurred, expired accounts 5
3020 Outlays (gross) –596 –589 –582
3040 Recoveries of prior year unpaid obligations, unexpired –2 –2
3041 Recoveries of prior year unpaid obligations, expired –14



3050 Unpaid obligations, end of year 135 143 148
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –25 –30 –30
3070 Change in uncollected pymts, Fed sources, unexpired –23
3071 Change in uncollected pymts, Fed sources, expired 18



3090 Uncollected pymts, Fed sources, end of year –30 –30 –30
Memorandum (non-add) entries:
3100 Obligated balance, start of year 84 105 113
3200 Obligated balance, end of year 105 113 118

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 528 510 485
Outlays, gross:
4010 Outlays from new discretionary authority 447 421 400
4011 Outlays from discretionary balances 53 63 90



4020 Outlays, gross (total) 500 484 490
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Baseline Program [Text] –149 –150 –137
4033 Baseline Program [Text] –1



4040 Offsets against gross budget authority and outlays (total) –150 –150 –137
Additional offsets against gross budget authority only:
4050 Change in uncollected pymts, Fed sources, unexpired –23
4052 Offsetting collections credited to expired accounts 16



4060 Additional offsets against budget authority only (total) –7



4070 Budget authority, net (discretionary) 371 360 348
4080 Outlays, net (discretionary) 350 334 353
Mandatory:
4090 Budget authority, gross 107 88 105
Outlays, gross:
4100 Outlays from new mandatory authority 5 5 6
4101 Outlays from mandatory balances 91 100 86



4110 Outlays, gross (total) 96 105 92
4180 Budget authority, net (total) 478 448 453
4190 Outlays, net (total) 446 439 445

Memorandum (non-add) entries:
5092 Unavailable balance, SOY: Appropriations 6
5093 Unavailable balance, EOY: Appropriations 6

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 (Fiscal Service). The mission of the Fiscal Service is to promote the financial integrity and operational efficiency of the U.S. Government through exceptional accounting, borrowing, collections, payments, and shared services. Fiscal Service plays a key role in strengthening the Department's leadership in financial management 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.

Additionally in FY 2014, Fiscal Service took a Government-wide leadership role in spending transparency with the transfer of the responsibility to maintain USAspending.gov from GSA. In FY 2015, Fiscal Service will make investments in USAspending.gov to improve both the functionality and the information transparency of the website.

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

Object Classification (in millions of dollars)


Identification code 20–0520–0–1–800 2013 actual 2014 est. 2015 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 166 194 193
11.3 Other than full-time permanent 2 2 2
11.5 Other personnel compensation 2 7 7
11.8 Special personal services payments 36 36



11.9 Total personnel compensation 170 239 238
12.1 Civilian personnel benefits 49 51 54
13.0 Benefits for former personnel 4 1
21.0 Travel and transportation of persons 2 3 4
22.0 Transportation of things 1
23.1 Rental payments to GSA 25 26 30
23.2 Rental payments to others 1 1 1
23.3 Communications, utilities, and miscellaneous charges 14 13 13
24.0 Printing and reproduction 1 1
25.1 Advisory and assistance services 19 15 15
25.2 Other services from non-Federal sources 54 26 23
25.3 Other goods and services from Federal sources 120 43 45
25.4 Operation and maintenance of facilities 2 1 1
25.7 Operation and maintenance of equipment 5 9 9
26.0 Supplies and materials 3 4 4
31.0 Equipment 4 12 8
32.0 Land and structures 2 4 5



99.0 Direct obligations 474 449 452
99.0 Reimbursable obligations 156 150 137
99.5 Below reporting threshold 1



99.9 Total new obligations 631 599 589

Employment Summary


Identification code 20–0520–0–1–800 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 1,904 2,136 2,096
2001 Reimbursable civilian full-time equivalent employment 279 254 254

Payment to the Yankton Sioux Tribe Development Trust Fund

Program and Financing (in millions of dollars)


Identification code 20–1888–0–1–452 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Direct program activity 33



0900 Total new obligations (object class 94.0) 33

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 33



1260 Appropriations, mandatory (total) 33
1930 Total budgetary resources available 33

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 33
3020 Outlays (gross) –33

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 33
Outlays, gross:
4100 Outlays from new mandatory authority 33
4180 Budget authority, net (total) 33
4190 Outlays, net (total) 33

The Yankton Sioux Tribe Development Trust Fund was established by P.L. 107–331 to carry out projects and programs under section 206 of the act for economic and infrastructure development projects. The legislation requires principal and a past interest amount to be calculated by the Department of the Treasury and transferred into the fund on October 1, 2013.

Payment to the Santee Sioux Tribe Development Trust Fund

Program and Financing (in millions of dollars)


Identification code 20–1887–0–1–452 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Direct program activity 7



0900 Total new obligations (object class 94.0) 7

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



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

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

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

The Santee Sioux Tribe Development Trust Fund was established by P.L. 107–331 to carry out projects and programs under section 206 of the act for economic and infrastructure development projects. The legislation requires principal and a past interest amount to be calculated by the Department of the Treasury and transferred into the fund on October 1, 2013.

Reimbursements to Federal Reserve Banks

Program and Financing (in millions of dollars)


Identification code 20–0562–0–1–803 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Direct program activity 108 110 110



0900 Total new obligations (object class 25.3) 108 110 110

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 108 110 110



1260 Appropriations, mandatory (total) 108 110 110
1930 Total budgetary resources available 108 110 110

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 28 26 25
3010 Obligations incurred, unexpired accounts 108 110 110
3020 Outlays (gross) –110 –111 –111



3050 Unpaid obligations, end of year 26 25 24
Memorandum (non-add) entries:
3100 Obligated balance, start of year 28 26 25
3200 Obligated balance, end of year 26 25 24

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 108 110 110
Outlays, gross:
4100 Outlays from new mandatory authority 82 83 83
4101 Outlays from mandatory balances 28 28 28



4110 Outlays, gross (total) 110 111 111
4180 Budget authority, net (total) 108 110 110
4190 Outlays, net (total) 110 111 111

This fund was established by the Treasury, Postal Service and General Government Appropriations Act of 1991 (P.L. 101–509, 104 Stat. 1394) as a permanent, indefinite appropriation to reimburse the Federal Reserve Banks for acting as fiscal agents of the Federal Government in support of financing the public debt.

Payment to the Resolution Funding Corporation

Program and Financing (in millions of dollars)


Identification code 20–1851–0–1–908 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Direct program activity 2,503 2,628 2,628



0900 Total new obligations (object class 41.0) 2,503 2,628 2,628

Budgetary Resources:
Budget authority:
Appropriations, mandatory:
1200 Appropriation 2,503 2,628 2,628



1260 Appropriations, mandatory (total) 2,503 2,628 2,628
1930 Total budgetary resources available 2,503 2,628 2,628