Departmental Offices Salaries and Expenses

Program Summary by Budget Activity

Dollars in Thousands

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023

Appropriated Resources Operating Plan Annualized CR Request % Change

New Appropriated Resources FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT

Executive Direction 88 $37,333 102 $35,706 140 $49,496 37.3% 38.6%

International Affairs and Economic Policy 176 $53,661 180 $53,492 206 $70,662 14.4% 32.1%

Domestic Finance and Tax Policy 227 $79,566 239 $81,059 273 $100,703 14.2% 24.2%

Treasury-wide Management and Programs 99 $39,779 109 $40,249 118 $46,770 8.3% 16.2%

Committee on Foreign Investment in the 

United States 80 $22,661 110 $22,494 132 $25,611 20.0% 13.9%

Subtotal New Appropriated Resources 670 $233,000 740 $233,000 869 $293,242 17.4% 25.9%

Other Resources

Reimbursable 40 $8,630 41 $11,500 41 $11,500 0.0% 0.0%

Transfers from CFIUS Fund 0 $15,000 0 $15,000 0 $15,000 NA 0.0%

Subtotal Other Resources 40 $23,630 41 $26,500 41 $26,500 0.0% 0.0%

Total Budgetary Resources 710 256,630 781 $259,500 910 $319,742 16.5% 23.2%

Summary

The FY 2023 budget for Treasury Departmental Offices (DO) Salaries and Expenses (SE) 

provides necessary resources for the Treasury Department to address major issues confronting 

the U.S. economy and to rebuild Treasury’s institutional capacity. Funding is requested to

support climate initiatives, equity assessments, the expansion of the Treasury attaché program, 

and cybersecurity and facilities improvements. 

These investments will enable Treasury to build on recent successes in fostering a robust and 

equitable economic recovery through implementation of pandemic relief programs; protecting 

the financial system by addressing risks related to real estate and digital assets; tackling the 

climate crisis by aligning public budgets, tax policy, and the flow of private capital with the goal 

of a global net-zero economy; and safeguarding our national security by improving the 

effectiveness of sanctions. 
Budget Highlights

Dollars in Thousands

FTE Amount

FY 2022 Annualized CR 740 $233,000 

Changes to Base:

Maintaining Current Levels (MCLs): 0 $9,728 

Pay Annualization (2.7% average pay raise) 0 $1,179 

Pay Raise (4.6% average pay raise) 0 $6,108 

Non-Pay 0 $2,441 

Non-Recurring Costs 0 ($3,868)

Non-recurring Costs for CFIUS Investments 0 ($3,868)

Transfers (2) 0 

Transfer of FTEs to SSP (2) $0 

Other Adjustments: 0 $17,365 

Adjustments to Meet Current Operating Levels* 0 $17,365 

Subtotal Changes to Base (2) $23,225 

FY 2023 Current Services 738 $256,225 

Program Changes:

Reinvestments 22 $3,868 

Staffing to Support CFIUS Program Growth 22 $3,868 

Program Increases: 109 $33,149 

Departmental Offices Staffing* 86 $20,000 

Equity Assessment and Program Evaluation 10 $3,579 

Treasury Attaché Program Expansion 3 $3,074 

Staffing to Support Climate Initiatives 9 $2,473 

Cyber to Enhance National Security (OCCIP) 1 $295 

DO Cyber Infrastructure (Incident Response and Threat Protection) 0 $1,185 

Facilities and Office Infrastructure 0 $2,543 

FY 2023 President's Budget Request 869 $293,242 

*Included in the FY 2022 President’s Budget

Budget Adjustments

Adjustments to Request

Maintaining Current Levels (MCLs) ........................................................+$9,728,000 / +0 FTE

Pay Annualization (2.7%) +$1,179,000 / +0 FTE

Funds are requested for annualization of the January 2022 2.7% average pay raise. 

Pay Raise (4.6 % in FY 2023) +$6,108,000 / +0 FTE

Funds are requested for a 4.6% average pay raise in January 2023. 

Non-Pay +$2,441,000 / +0 FTE

Funds are requested for non-labor expenses such as travel, contracts, rent, supplies, 

and equipment.
Non-Recurring Costs ...................................................................................-$3,868,000 / -0 FTE

Non-recurring Costs for CFIUS Investments -$3,868,000, -0 FTE

Non-recurring costs for CFIUS associated with the baseline completion of CFIUS’s case 

management system and configuration of secure spaces for new CFIUS staff.

Transfers.....................................................................................................................-$0 / -2 FTE

Transfer of FTEs to SSP -$0, -2 FTE

Transfer of 2 FTEs from DO SE to SSP after a determination that it more appropriately aligns 

with the purpose of the funding sources. Funding amounts will remain within DO SE to cover its 

portion of these services.

Other Adjustments....................................................................................+$17,365,000 / +0 FTE

Adjustments to Meet Current Operating Levels +$17,365,000 / +0 FTE

Includes funding for the FY 2022 MCLs requested in the FY 2022 President’s Budget and DO 

SE’s portion of Departmental Offices (DO) projects to replace servers that have now reached the 

end of their useful life. This request also funds the modernization of critical equipment and 

software that support the DO workforce’s fundamental information technology needs. 

Reinvestments...........................................................................................+$3,868,000 / +22 FTE 

Staffing to Support CFIUS Program Growth +$3,868,000 / +22 FTE

Increase in CFIUS staffing to continue in line with anticipated program growth.

Program Increases ................................................................................+$33,149,000 / +109 FTE

Departmental Offices Staffing +$20,000,000 / +86 FTE

This funding request is a continuation of the request included in the FY 2022 President’s Budget 

for DO SE. This request seeks to provide Treasury’s policy offices with baseline staffing levels 

needed support the core Treasury mission and the Secretary’s priorities. During the prior 

administration, DO’s policy-related staffing levels were reduced by a total of 11 percent. The 

Department is critically understaffed in key Treasury offices that are the nexus for the 

Department’s response to economic crises and programs of national importance.

Treasury requests $20 million to fund 86 positions to carry out Treasury’s mission and support 

key Administration priorities, including 1) responding effectively to the pandemic and 

supporting robust economic recovery; 2) addressing the threat of climate change; 3) addressing 

income inequality and ensuring racial equity; 4) reinforcing the United States’ position on the 

world stage. This request also provides funding policy and oversight functions within DO that 

have seen outsized workload growth due to of unfunded mandates placed upon the Department. 

The following requests build on this baseline of 86 positions to provide for additional manpower 

that the Administration views as critical to carry out its long-term goals related to equity, 

climate, national security, and the U.S.’s engagement abroad, and stem from additional 

assessments, Executive Orders, and recommendations provided to Treasury since the FY 2022 

President’s Budget was submitted.

Equity Assessment and Program Evaluation +$3,579,000 / +10 FTE

This request provides funding to support Equity Assessment Recommendations within DO. It 

includes 6 major components, focused on improving support to both internal and external 
priorities related to equity, including:

Staff to conduct analysis on equity-related policy issues and support equity equalization 

through programming, policy-building, and other opportunities. This includes:

1. Policy analysis and partnership development focused on underserved communities.

2. Analysis, interagency policy development and implementation, and impact measurement on

both the socially and economically disadvantaged and Tribal-related issues of equity, 

particularly associated with small business, entrepreneurship, financial services, public 

services, digital infrastructure, and other areas in the Office of Capital Access. 

3. A dedicated Evaluation Officer to coordinate analysis and program evaluations for equity 

assessments, other congressionally mandated impact studies focusing on equitable 

distribution of resources, as well as studies to address Treasury learning agenda questions 

and increasing agency capacity to build evidence in support of Evidence Act Implementation.

Increased support for Treasury-internal equity programs, including:

1. Resources dedicated to analyzing equity in procurement and creating mechanisms to enable 

continuous identification of opportunities to increase awards to underserved communities as 

required in EO 13985.

2. Growing recruitment pipelines to diverse talent, through an expansion of paid internship 

programs such as the Treasury Scholars Program (anticipated to grow from 15 interns to 40 

annually) as required in EO 14035.

3. Improving support and analysis of equity programs geared at DO’s existing workforce, 

including an additional staff member to support Equal Employment Opportunity (EEO) 

efforts as required in EOs 13985, 13988, and 14035. 

Treasury Attaché Program Expansion +$3,074,000 / +3 FTE

The 2021 NDAA authorized and required the expansion of the program by no fewer than six 

positions. This is the accompanying appropriations request for three of those six positions.

Treasury financial attachés are posted at U.S. Embassies in foreign countries important to U.S. 

domestic and foreign economic and financial policy and the international fight against terrorism, 

money-laundering, and other illicit finance activities. The attachés complement the Ambassador 

in outreach to foreign finance ministries, international financial institutions, central banks, and 

other agencies, and supply the embassy and Treasury with detailed information and focused 

analysis of foreign economic and financial policies. Their unique perspectives are critical to the 

policy development and implementation and crisis management work at Main Treasury and in 

the U.S. interagency. Among other contributions, Treasury attachés:

1. Enhance Treasury’s real time access to foreign officials, local experts, media, and financial 

market participants;

2. Conduct in‐depth analysis of issues important to Treasury that can be done satisfactorily only 

with extended on‐the‐ground presence; and

3. Provide critical support to senior level Treasury trips through established contacts and 

relationships and advise on the value of certain meetings for officials from both governments. 

Treasury attachés are highly valued across the organization and provide access, information, 

and further the priorities of offices across DO.

Staffing to Support Climate Initiatives +$2,473,000 / +9 FTE

The Administration is targeting cuts to greenhouse gas (GHG) emissions by 50%-52% from 

2005 levels by 2030 and has outlined an ambitious plan to double international climate finance 
and triple international adaptation finance by 2024, to support communities transitioning away 

from coal and to encourage the private sector to disclose climate risk. The Administration has 

asked Treasury to play a key role in these efforts, but as currently staffed, Treasury will be 

limited in its ability to contribute to crucial elements of the climate agenda. Treasury’s unique 

responsibilities on a range of programs related to climate change – including economic, financial 

sector, and climate-related government policies – will be reflected in an expanded climate 

strategy work program.

The first phase, funded from existing resources, included the creation of a new Climate Hub and 

Climate Counselor position. The second phase, previously requested in the FY 2022 President’s 

Budget, will include the implementation of a Climate Hub to centrally coordinate and lead many 

of Treasury’s efforts to address climate change. The Treasury Climate Hub will coordinate and 

enhance existing climate-related activities by harnessing the tools, capabilities, and expertise 

from across the Department – including from Domestic Finance, Economic Policy, International 

Affairs, and Tax Policy. With a view of all Treasury climate initiatives, the Hub will enable 

Treasury to move nimbly and efficiently in prioritizing climate action with support from DO 

staff.

This FY 2023 request is the third phase of the climate strategy, which provides staffing strength 

in International Affairs and Domestic Finance needed to support the Administration’s climate 

priorities, including work connected to 1) climate transition finance, 2) climate-related policy, 

and 3) climate-related financial risks. This specifically would fund:

• International economists and climate finance experts to support initiatives outlined in the 

Administration’s U.S. International Climate Finance Plan, Plan to Conserve Global Forests, 

and President's Emergency Plan for Adaptation and Resilience, including greater 

collaboration with multilateral development banks, climate investment funds, the 

International Monetary Fund, export credit agencies, the Financial Stability Board, 

international finance ministry counterparts, and private industry to address climate change 

internationally. These staff will also further our goal of ensuring comparability and 

accountability of climate commitments by other countries, including China, while advancing 

U.S. competitiveness.

• Staffing for domestic climate priorities, including increased collaboration with financial 

regulatory agencies to understand, convey, and mitigate climate-related financial risk, 

climate insurance assessments to be conducted by the Federal Insurance Office (FIO), to 

understand private insurance coverage gaps in regions of the country particularly vulnerable 

to climate change impacts, engagement with state and local markets on green bonds, work 

with local stakeholders on household financial resiliency to climate trauma and transition, 

and support for climate investment programming for transition innovation and adaptation.

Cyber to Enhance National Security (OCCIP) +$295,000 / +1 FTE

At present, OCCIP is staffed to support up to three ongoing sector-wide incidents at a time. 

Recent history has demonstrated that this staffing level is insufficient to handle the actual volume 

of incidents impacting the sector. The impact of the current climate crisis and potentially cyber 

events on a large scale can disrupt financial services both domestically and internationally due to 

impacts to National Critical Functions as defined by the National Risk Management Center. 

Initial global estimates for the SolarWinds hack alone are upwards of $100B to contain damage 

in U.S. businesses and government agencies. Even with additional staffing to support the 
Financial Services sector amid an exponential increase of hacks globally, the sector will continue 

to experience substantial risk.

This request provides financial support for the Office of Cybersecurity and Critical Infrastructure 

Protection that advances progress towards the strategic priority of enhancing national security. It 

includes one FTE to formalize, extend, integrate, and automate OCCIP programs and capabilities 

to improve the sector’s ability to (1) identify and analyze risks to critical functions and (2) 

mitigate known and emerging risks, including climate-related risks.

DO Cyber Infrastructure (Incident Response and Threat Protection) +$1,185,000 / +0 FTE

The Department’s forthcoming FY 2022 – 2026 Strategic Plan aligns cyber security under 

strategic goal two, Enhance National Security. It is predicted there will be an increase in global 

risks due to diverging interests among major powers, an expanding terror threat, and the spread 

of disruptive technologies. As foreign and domestic actors threaten the American economy and 

national security, Treasury must strengthen its cyber security posture, leverage its existing 

processes and tools, and strengthen bi-lateral and multi-lateral partnerships to protect the 

financial sector. With Treasury’s increasing involvement in combatting cybercrime, we face 

increasing risk against the IT systems that support our authorities. DO is a primary target for 

nation state sponsored cyber criminals who seek to disrupt our capabilities and destroy our 

reputation. DO must invest in cyber protections commensurate with the risks incurred in our 

efforts to safeguard the financial sector, U.S. economy and in combating cybercrime. 

DO Investments will enhance Treasury’s ability to:

1. Protect: Invests in Microsoft FedRAMP High Government Community Compliance (GCC) 

licenses, which have been a key component of Treasury’s response to SolarWinds. This 

includes enhanced security controls, monitoring, and threat protection, as well as improved 

data and identity management. These new capabilities are crucial to protect the 3,000 users 

within DO from potential ransomware.

2. Respond: Funds incident response investments which are important to continue to protect 

DO’s IT infrastructure amid an uptick in cyber attacks due to DO’s activities in the 

international ecosystem. This solution reduces attackers’ ability to compromise systems and 

conduct reconnaissance, as well as reduces attacker’s penetration capabilities.

Facilities and Office Infrastructure +$2,543,000 / +0 FTE

This request provides funding for a repairs and improvements (R&I) account within DO for noncapital investments within Main Treasury (MT) and Freedman’s Bank Building (FBB). The cost 

of maintaining historic office buildings of similar size to MT and FBB is estimated at 

approximately $2M in funding annually. Over the past 2 years, Treasury DO has incurred a 

myriad of expensive repairs, including to the power supply, fire pump replacement, transformer 

fluid replacement, portico, and miscellaneous water damage. In total, these costs have required 

DO to divert crucial resources away from other key priorities.

While the external repairs are being funded in Department-wide Systems and Capital 

Investments Program account (DSCIP) via a consolidated approach, ad hoc repairs and 

maintenance are usually completed because 1) emergency repairs cannot be planned for, and 2) 

many of the repairs are operational in nature and must-do fixes. There are multiple rooms within 

Main Treasury and Freedman’s Bank in need of substantial repairs due to recent emergencies 
(e.g., water leaks, structural shortfalls, and elevator malfunctions) and the Secretary’s 

Conference Room is presently unusable as a result. By not keeping up with maintenance and 

repair needs, the building systems and infrastructure will typically not have a full life expectancy 

and the resulting higher replacement costs place an even higher burden on Treasury facilities.

Likewise, this funding supports a transition to hybrid work. Like most workplaces, Treasury has 

transitioned to a hybrid work format which relies more heavily on virtual presence and 

collaboration software to accommodate the increased remote work necessary because of the 

pandemic. Treasury’s mission requires it to collaborate with various partners including foreign 

governments, financial institutions, other federal agencies, local governments and citizens. A 

lack of funding for collaboration tools and remote work accoutrements necessary for our future 

of work plans will inhibit our ability to retain and attract staff and work with stakeholders and 

partners to accomplish Treasury’s mission. 

Legislative Proposals 

Not to exceed 5 percent of any appropriation made available in this Act for the Department of 

the Treasury may be transferred to the Department’s information technology system 

modernization and working capital fund (IT WCF), as authorized by section 1077(b)(1) of title X 

of division A of the National Defense Authorization Act for the Fiscal Year 2018, for the 

purposes specified in section 1077(b)(3) of such Act, upon the prior notification of the 

Committees on Appropriations of the House of Representatives and the Senate: Provided, That 

amounts transferred to the IT WCF under this section shall remain available for obligation 

through September 30, 2026.

Note: This request is proposed as an administrative provision. Both the executive summary and 

budget appendix include the proposed language. 

Performance Highlights 

FY 2019 FY 2020 FY 2021 FY 2022 FY 2023

Budget Activity Performance Measure Actual Actual Actual Target Target

International Affairs and 

Economic Policy OTA - Program Engagement 3.8 3.3 3.6 3.6 3.6

Treasury-wide Management and 

Programs

Treasury-wide Leaders Lead 

Index of the Federal Employee 

Viewpoint Survey (FEVS)

69 75 74 77 75

Treasury-wide Management and 

Programs

Percent of Procurement Dollars 

Spent on Small Business 40% 46% 39% 39% 39%

Description of Performance

Office of Technical Assistance (OTA) Program Engagement (Traction): Measures the degree to 

which foreign counterparts are engaging proactively and constructively with OTA advisors at the 

working and policy levels. A five-point scale is used to measure traction, with scores ranging 

from a low of 1, indicating there is little if any counterpart involvement, to a high score of 5, 

indicating that OTA advisors have regular and frequent meetings with counterparts and counterparts 

display high levels of involvement. Counterpart engagement is both a key outcome of OTA efforts 

to structure and execute effective technical assistance projects that support host country 
ownership. The result for FY 2021 is 3.6, an increase of 0.3 from the FY 2020 result, 

representing a return to historical levels after the program experienced a dip in traction 

associated with the challenges of providing technical assistance remotely during the COVID-19 

pandemic. The increase in FY 2021 was due, in part, to the program’s ability to resume in-person 

assistance for many of its bi-lateral technical assistance engagements globally and the continued 

improvement by the program in its use of remote tools (e.g., videoconferencing, collaborative 

software) to support projects when in-person assistance is not possible.

Treasury-wide “Leaders Lead” Index of Federal Employee Viewpoint Survey (FEVS): As part of 

its overall effort to increase Employee Engagement, Treasury had set a multi-year goal to 

increase the “Leaders Lead” index. This involved statistically analyzing FEVS data to identify 

opportunities for improvement. Treasury’s score for the Leaders Lead Index increased from 65 

percent in FY 2020 to 66 percent in FY 2021 exceeding the OPM established 65 percent 

benchmark for organizational strength. Treasury’s score in FY 2021 exceeded the average score 

for very large agencies by seven percent. Targets are 67 percent for FY 2022 and 66 percent for 

FY 2023, which is an acknowledgement of potential challenges related to office re-entry for DO 

staff. 

Percentage of Procurement Dollars Spent on Small Business:

Based on preliminary data in FY 2021, Treasury met and exceeded four out of five small 

business prime contracting goals. Treasury did not meet its Historically Under-utilized Zone 

(HUBZone) small business goal. Treasury did not meet any small business subcontracting goals. 

All Treasury bureaus were included in the goaling report, with no exclusions. The FY 2021 

overall small business goal was set for 36 percent, and Treasury exceeded the goal at 39 percent. 

The FY 2023 small business goal is set at 39 percent. One overarching challenge in FY 2021 to 

meet the HUBZone small business goal was that Treasury had competing priorities: 1) OMB’s 

directive to utilize Category Management principles and Best-in-Class (BIC) contracts to 

leverage existing government-wide contracting vehicles, where there is a lack of sufficient 

HUBZone small business firms available for use, and 2) the COVID-19 pandemic contracting 

response, where there are not enough HUBZone small businesses with capabilities that meet the 

COVID-19 requirements. Particularly noteworthy is that Treasury far exceeded the small 

business contracting goals for the following socioeconomic groups: 

• Small Disadvantaged Business – goal 5.0 percent, achieved 7.7 percent 

• Women Owned Small Business – goal 5.0 percent, achieved 6.7 percent; and

• Service-Disabled Veteran Owned Small Business – goal 3.0 percent, achieved 3.8 percent. 

Treasury did not meet the small business contracting goal for the following socioeconomic 

group:

• Historically Under-utilized Zone (HUBZone) Small Business – goal 3.0 percent, achieved 

2.2 percent.