Bureau of Engraving and Printing 

Mission Statement 

To design and manufacture high quality security documents that meet customer 

requirements for quality, quantity and performance, including counterfeit deterrence. 

Program Summary by Account Dollars in Thousands 

FY 2006 FY 2007 FY 2008

Obligated Estimated Estimated $ Change % Change 

Manufacturing $445,000 $493,000 $537,000 $44,000 8.92%

Protection and Accountability of Assets 61,000 63,000 65,000 2,000 3.17%

Total Resources $506,000 $556,000 $602,000 $46,000 8.27%

FY 2008 Priorities 

• Produce and deliver the most secure currency for the nation in the most cost effective 

manner possible. BEP expects to produce and deliver 9.7 billion notes to the Federal 

Reserve System in 2008, an increase of nearly 7 percent over the 2007 program. 

• Redesign the $5 and $100 notes. The redesigned $5 note will begin circulating in 

spring 2008; the new $100 note should begin circulating in FY 2009. The new notes 

are part of the current multi-year initiative to implement the most ambitious currency 

redesign in United States history. 

• Continue process improvements as required of an ISO 9001 certified organization, a 

designation that indicates to current and prospective customers that the Bureau 

employs a rigorous quality management program. 

• Continue to work with the Advanced Counterfeit Deterrent Committee to research 

and develop state-of-the-art counterfeit deterrent features for use in future currency 

notes that will enhance and protect future notes. 
Table of Contents 

Section 1 – Purpose ........................................................................................................... 2

1A – Description of Bureau Vision and Priorities.......................................................... 2 

1B – Program History and Future Outlook..................................................................... 3 

Section 2 – Budget Adjustments and Appropriations Language ................................. 6

2.2 – Operating Levels Table.......................................................................................... 6 

2B – Appropriations Language....................................................................................... 7 

2C – Legislative Proposals.............................................................................................. 7 

Section 3 – Budget and Performance Plan ..................................................................... 8

3.1 – Resource Detail Table............................................................................................ 8 

3A – Manufacturing........................................................................................................ 8 

3.2.1 – Manufacturing Budget and Performance Plan.................................................... 9 

3.2.2 – Protection and Accountability of Assets Budget and Performance Plan.......... 10 

Section 4 – Supporting Materials.................................................................................. 11

4.1 – Human Resources Table ...................................................................................... 11 

4A – Human Capital Strategy Description ................................................................... 11 

4.2 – Summary of IT Resources Table ......................................................................... 13 

4B – Information Technology Strategy ........................................................................ 14 

4.3 – PART Evaluation Table....................................................................................... 15 

BEP - 1 
Section 1 – Purpose

1A – Description of Bureau Vision and Priorities 

The mission of the Bureau of Engraving and Printing is to design and manufacture high 

quality security documents that deter counterfeiting and meet customer requirements for 

quality, quantity and performance. 

The Bureau of Engraving and Printing began printing currency in 1862. The Bureau 

operates on the basis of authority conferred upon the Secretary of the Treasury by 31 

U.S.C. 321(a) (4) to engrave and print currency and other security documents. 

Operations are financed by a means of a revolving fund established in 1950 in accordance 

with Public Law 81-656. This fund is reimbursed through product sales for direct and 

indirect costs of operations including administrative expenses. In 1977, Public Law 95-

81 authorized the Bureau to include an amount sufficient to fund capital investment and 

to meet working capital requirements in the prices charged for products. This eliminated 

the need for appropriations from Congress. 

The Bureau’s vision is to maintain its position as a world-class securities printer 

providing our customers and the public superior products through excellence in 

manufacturing and technological innovation. It strives to produce U.S. currency of the 

highest quality, as well as many other security documents issued by the federal 

government. Other activities at the Bureau include engraving plates and dies; 

manufacturing inks used to print security products; purchasing materials, supplies and 

equipment; and storing and delivering products in accordance with the requirements of 

customers. In addition, the Bureau provides technical assistance and advice to other 

federal agencies in the design and production of documents, which, because of their 

innate value or other characteristics, require counterfeit deterrence. 

In line with BEP’s vision, the Bureau’s top priorities for FY 2008 to achieve it’s mission 

are the introduction of a new $5 note into circulation in spring 2008, and a new $100 note 

should begin circulating in 2009. The new notes will contain enhanced security features 

including subtle background colors. Background colors help consumers, particularly 

those who are visually impaired, to tell the denominations apart. However, in addition to 

background colors, BEP is developing and testing several new overt counterfeit deterrent 

features for inclusion in the new $100 note. The Bureau is continuing its work with the 

Advanced Counterfeit Deterrent Committee to research and develop future currency 

designs that will enhance and protect future notes. 

Manufacturing – The Bureau of Engraving and Printing manufactures high quality 

security documents that deter counterfeiting. These products are grouped into two 

programs: Federal Reserve notes and other security documents.

BEP - 2 
Protection and Accountability of Assets – Because of the value of the products 

manufactured, the Bureau must maintain an accurate and cost effective system of 

accountability for all Bureau products, which will ensure that products are accounted for 

while in production and that customers receive the correct quantity of the product 

ordered. The protection and accountability of assets is a joint effort crossing many 

divisions within the Bureau; products are tracked and accounted for at every step of the 

production process. The primary mission of the Bureau’s Office of Security is to 

preserve the integrity of and safeguard critical Bureau resources and assets such as 

personnel, products, facilities and equipment. 

1B – Program History and Future Outlook 

Redesigned Federal Reserve Notes: The Bureau of Engraving and Printing has a long 

term commitment to develop state-of-the-art counterfeit deterrent features for use in 

future currency notes through new, more innovative technologies. The Bureau expects to 

redesign United States currency every seven to ten years in an effort to stay ahead of 

counterfeiters as advances in technology make counterfeiting of currency less difficult. 

The Advanced Counterfeit Deterrent Steering Committee, which includes members from

BEP, other Department of the Treasury officials, the United States Secret Service, and the 

Federal Reserve Board, is continually researching counterfeit deterrent features for 

possible use in future currency designs that will enhance and protect future notes from

counterfeiting. 

Recent redesigned notes retained three important counterfeit deterrent features that were 

first introduced in the late 1990’s and are easy for consumers and merchants to 

authenticate. 

• The watermark: The faint image similar to the large portrait, which is part of the 

paper itself, is visible from both sides when the note is held up to light. 

• The security thread: This is visible from both sides when held up to light, this 

vertical strip of plastic is embedded in the paper and spells out “USA” as well as the 

denomination. 

• The color-shifting ink: The numeral in the lower-right corner on the face of the note 

changes from copper to green when the note is tilted. The color shift is more 

dramatic and easier to see on the new design notes. 

Counterfeiting has been kept at low levels through a combination of improvements in 

security features, aggressive law enforcement and education efforts to inform the public 

about how to authenticate their currency. The most recent redesigned note, the $10, 

entered into circulation in March 2006. The redesigned $10 was the third denomination 

in the new currency series that incorporates enhanced security features, as well as subtle 

background colors and symbols of freedom into the designs. A redesigned $5 note is 

scheduled to be introduced into circulation in spring 2008, and a new $100 note will 

begin circulating in 2009. 

BEP - 3 
Public Education: Because the improved security features in the redesigned currency are 

most effective when the public knows about and uses the features to authenticate their 

currency, a broad, public education program is crucial to the anti-counterfeiting effort. In 

cooperation with the Federal Reserve, BEP administers a public education program to 

support the introduction of new currency designs. The goal of this program is to build an 

adequate threshold of awareness to ensure seamless, "business as usual" transitions as 

new currency designs are introduced to the public. 

An education campaign will be conducted for the new $5 and $100 notes following the 

successful campaigns for the redesigned $20, $50 and $10 notes. No domestic paid 

advertising will be used to introduce the new notes, but it is possible that paid media of 

some nature may prove necessary in certain foreign markets for the $100 note. $100 

notes comprise roughly 65 percent of the estimated $789 billion of outstanding United 

States currency, an estimated two-thirds which is held outside the United States borders. 

This education program ensures that people all over the world accept, recognize and use 

the enhanced security features of the new currency. 

Quality: Along with innovative, cutting-edge designs, BEP will maintain its focus on 

producing high quality security products in the most cost effective manner possible. It 

will continue to pursue process improvements as required of an ISO 9001 certified 

organization, a designation that indicates to current and prospective customers that the 

Bureau employs a rigorous quality management program. Continuous process 

improvements will be the catalyst for world class quality and improved cost performance 

through streamlined processes and low spoilage. In 2007, the BEP plans to attain ISO 

14001 certification for its environmental management systems to institutionalize its 

commitment to sound environmental stewardship. 

Cost Reduction Efforts: The Bureau strives to provide its customers with superior 

products for the lowest possible price. The BEP continuously looks for ways to cut costs 

without compromising quality. During 2006, performance on key program performance 

measures relating to cost was favorable. In addition, direct manufacturing costs for the 

currency program were below established standards in 2006. To best position the Bureau 

of Engraving and Printing for the future, during 2006 it undertook a functional review of 

its organizational structure. The goal of the review was to streamline the organization by 

grouping similar functions to benefit from synergies, improve efficiency costs, reduce 

response time and facilitate currency redesign efforts. The Bureau expects to complete 

this functional realignment in early FY 2007. 

Recent developments in Optical Character Recognition and image inspection software 

have led to the availability of commercial inspection systems that BEP can use in its 

currency manufacturing processes. These PC-based systems use commercially available 

hardware along with a proprietary software package to provide real time inspection of 

printed work. The Bureau’s investment in an automated inspection system has proven to 

be more cost effective than the system it replaced. It has also afforded BEP some

BEP - 4 
flexibility in redeploying resources to other areas while enhancing it’s capability of

delivering a high quality product. 

BEP’s success would not be possible without the contributions of its people. The Bureau 

remains strongly committed to the development of its workforce through an array of 

career development programs tailored to the demand and skill requirements of a hightechnology workplace. Strategic investment in people and technology will continue to be 

critical factors in maintaining the Bureau’s status as a world class securities 

manufacturer. 

BEP - 5 
Section 2 – Budget Adjustments and Appropriations Language 

2.2 – Operating Levels Table 

Dollars in Thousands 

Account Title: Bureau of Engraving and Printing FY 2006 FY 2007 FY 2008 

Obligated Estimated Estimated

FTE 2,190 2,300 2,250

Object Classification

11.1 Full-Time Permanent Positions..................................... $ 167,000 $ 170,000 $ 175,000

11.1 Other than Full-Time Permanent Positions.............. 1,500 1,500 2,000

11.5 Other Personnel Compensation................................... 8,000 11,000 12,000

11.8 Special Personal Services Payments..................... 2,000 2,000 2,000

11.9 Personnel Compensation (Total)............................. - - -

12.0 Personnel Benefits......................................................... 178,500 184,500 191,000

13.0 Benefits to Former Personnel........................................ 43,500 46,000 48,000

21.0 Travel............................................................................. - - -

22.0 Transportation of Things........................................... 1,750 1,750 1,750

23.1 Rental Payments to GSA............................................... 100 150 150

23.2 Rent Payments to Others............................................... 2,000 2,000 2,000

23.3 Communications, Utilities, & Misc.................................. 1,000 1,000 1,000

24.0 Printing and Reproduction............................................. 13,000 14,000 14,000

25.1 Advisory & Assistance Services..................................... 850 800 800

25.2 Other Services............................................................... 4,000 5,000 5,000

25.3 Purchase of Goods/Serv. from Govt. Accts...... 50,000 51,000 53,000

25.4 Operation & Maintenance of Facilities................... - - -

25.5 Research & Development Contracts.............................. 8,200 8,200 8,200

25.6 Medical Care.................................................................. 3,000 3,000 3,000

25.7 Operation & Maintenance of Equipment...................... - - -

25.8 Subsistence & Support of Persons................................ 6,000 7,000 7,000

26.0 Supplies and Materials................................................... - - -

26.0 Metal and Fabrication.................................................... 134,000 184,000 207,000

31.0 Non-Capital Equipment.................................................. 60,000 50,000 60,000

33.0 Investments & Loans.................................................... - - -

41.0 Grants, Subsidies.......................................................... - - -

42.0 Insurance Claims & Indemn........................................... - - -

43.0 Interest and Dividends............................................. 100 100 100

44.0 Refunds......................................................................... - - -

 Depreciation - - -

Total Operating................................................ $ 506,000 $ 558,500 $ 602,000

Budget Activities:

 Manufacturing $ 445,000 $ 493,000 $ 537,000

 Protection and Accountability of Assets 61,000 63,000 65,000

Total Budget Authority....................................... $ 506,000 $ 556,000 $ 602,000

BEP - 6 
2B – Appropriations Language 

BEP receives no appropriated funds from Congress. 

2C – Legislative Proposals 

BEP has no Legislative Proposals for FY 2008. 

BEP - 7 
Section 3 – Budget and Performance Plan

3.1 – Resource Detail Table 

Dollars in Thousands 

% Change

FY 2006 FY 2007 FY 2008 FY 2007

Description FTE Obligated FTE Estimated FTE Estimated FTE to FY 2008

Revenue:

Federal Reserve Notes 2,175 $500,000 2,285 $550,000 2,235 $596,000 -2.2% 8.4%

Postage Stamps 0 0 0

Other Security Products 15 6,000 15 6,000 15 6,000 0.0% 0.0%

Total Revenue 2,190 $506,000 2,300 $556,000 2,250 $602,000 -2.2% 8.3%

Expenses:

Direct Manufacturing

Paper and Ink $125,000 $175,000 $207,000 18.3%

Direct Labor 32,000 33,000 34,500 4.5%

Other Direct Mfg Costs 6,000 7,000 7,500 7.1%

Subtotal Direct Manufacturing Costs 163,000 215,000 249,000 15.8%

 Indirect Manufacturing Support 282,000 278,000 288,000 3.6%

 Total Manufacturing Activity Costs 445,000 493,000 537,000 8.9%

Total Protection & Accountability of Assets Activity Costs 61,000 63,000 65,000 3.2%

Total Expenses $506,000 $556,000 $602,000 8.3%

Net Results 0.0 0.0 0.0 0.0%

Federal Reserve Notes Manufactured (in Billions) 8.2 9.1 9.7 6.6%

0.0%

3A – Manufacturing ($537,000,000 from reimbursable programs): BEP manufactures 

high quality security documents that deter counterfeiting. These manufactured products 

are grouped into two programs: Federal Reserve notes and other security documents. 

The Bureau’s Manufacturing Activity supports Treasury’s strategic objective, Increase 

the Reliability of the United States Financial System. 

 BEP uses the latest technologies for security printing and processing, including 

automated inspection equipment used in the production of the nation’s currency. The 

manufacturing of state-of-the-art currency deters counterfeiting, contributes to public 

confidence, and facilitates daily commerce. The Bureau’s production equipment is 

operated by highly skilled craft personnel that have developed their unique skills through 

multi-year apprenticeship programs. 

In 2006, the Bureau delivered 8.2 billion Federal Reserve Notes to the Federal Reserve 

Banks. The currency order was fulfilled on schedule, at lower cost and spoilage than 

anticipated. The Federal Reserve has ordered 9.1 billion notes for delivery in FY 2007 

and their order is estimated at 9.7 billion notes for FY 2008. 

BEP - 8 
3.2.1 – Manufacturing Budget and Performance Plan 

Manufacturing Budget Activity Includes Strategic Objective F3C

FY 2004 FY 2005 FY 2006 FY 2007 FY 2008

Resource Level Obligated Obligated Obligated Estimated Estimated

Financial Resources

 Appropriated Resources $0 $0 $0 $0 $0

 Other Resources 481,000 436,000 445,000 493,000 537,000

Total Operating Level $481,000 $436,000 $445,000 $493,000 $537,000

Human Resources

 Appropriated FTE 0 0 0 0 0

 Other FTE 1,841 1,787 1,800 1,800 1,750

Total FTE (direct and reimbursable) 1,841 1,787 1,800 1,800 1,750

Manufacturing Budget Activity Includes Strategic Objective F3C

Measure FY 2004 FY 2005 FY 2006 FY 2007 FY 2008

Target $35 $31 $28.5 $30.0 $33.0

Actual $28.06 $28.83 $27.49

Manufacturing costs for currency (dollar costs 

per thousand notes produced) ($) (E) 

Met Yes Yes Yes

Target 99.9% 99.9% 99.9% 99.9% 99.9%

Actual 100% 99.9% 99.9%

Percent of currency notes delivered to the 

Federal Reserve that meet customer quality

requirements (%) (Oe) Met Yes Yes Yes

Key: Oe - Outcome Measure, E - Efficiency Measure, Ot - Output/Workload Measure, and M - Management/Cust. 

Satisfaction 

Description of Performance: Manufacturing Costs for Currency (dollar cost per 1,000 

notes produced) is an indicator of manufacturing efficiency and effectiveness of program

management. This measure is based on contracted price factors, and anticipated 

productivity improvements. Actual performance against standard depends on BEP’s 

ability to meet annual spoilage, efficiency, and capacity utilization goals. Performance 

against this measure has been favorable for the past six years. 

3B – Protection and Accountability of Assets ($65,000,000 from reimbursable 

programs): The Bureau’s Protection and Accountability of Assets Activity also supports 

Treasury’s strategic objective, Increase the Reliability of the United States Financial 

System. BEP’s ability to provide effective and efficient product security and 

accountability during the manufacture and delivery of currency notes to the Federal 

Reserve preserves the integrity of the nation’s currency. 

Because of the value of the products manufactured, the Bureau must maintain an accurate 

and cost effective system of accountability for all Bureau products which will ensure that 

products are accounted for while in production and that our customers receive the correct 

quantity of the product ordered. The protection and accountability of assets is a joint 

effort crossing many divisions within the Bureau; products are tracked and accounted for 

at every step of the production process. 

The Bureau’s annual financial statement audit represents an assessment by an 

independent, certified public accounting firm of the integrity of the Bureau’s revolving 

fund and the reliability of the financial data used for managerial decision making. 

Successful financial reporting at the Bureau is a joint effort that requires coordination 

BEP - 9 
between financial management, operations, and information technology personnel, as 

well as close coordination with the independent, certified public accounting firm

contracted to perform the annual audit and the Office of Inspector General, which 

oversees their work. In addition, the Bureau’s Office of Security’s primary mission is to 

preserve the integrity of and safeguard critical Bureau resources and assets such as 

personnel, products, plant facilities and equipment. 

3.2.2 – Protection and Accountability of Assets Budget and Performance Plan 

Protection and Accountability of Assets 

Budget Activity

Includes Strategic Objective F3C

FY 2004 FY 2005 FY 2006 FY 2007 FY 2008

Resource Level Obligated Obligated Obligated Estimated Estimated

Financial Resources

 Appropriated Resources $0 $0 $0 $0 $0

 Other Resources 58,000 56,000 61,000 63,000 65,000

Total Operating Level $58,000 $56,000 $61,000 $63,000 $65,000

Human Resources

 Appropriated FTE 0 0 0 0 0

 Other FTE 490 495 500 500 500

Total FTE (direct and reimbursable) 490 495 500 500 500

Protection and Accountability of Assets 

Budget Activity

Includes Strategic Objective F3C

Measure FY 2004 FY 2005 FY 2006 FY 2007 FY 2008

Target 0.01 0.01 0.01 0.01 0.01

Actual 0.01 0 0.01

Currency shipment discrepancies per million 

notes ($) (Oe) 

Met Yes Yes Yes

Target Baseline $5.95 $6.25 $6 $5.65

Actual $5.95 $5.75 $6

Security costs per 1000 notes delivered ($) (E) 

Met Yes Yes Yes

Key: Oe - Outcome Measure, E - Efficiency Measure, Ot - Output/Workload Measure, and M - Management/Cust. 

Satisfaction 

Description of Performance: Currency Shipment Discrepancies are an indicator of the 

Bureau’s ability to provide effective product security and accountability. This measure 

refers to product overages or underages of as little as a single currency note in shipments 

of finished notes to the Federal Reserve Banks. For several years, this measure has had 

an annual target of .01 percent. The Bureau has been able to meet or exceed this target on 

a regular basis. BEP continually strives to meet its long term goal of 0 percent, and has 

been able to do so several times. 

For detailed information about each performance measure, including definition, 

verification and validation, please go to: 

http://www.treas.gov/offices/management/dcfo/accountability-reports/2006-

par/Part_IV_Appendices.pdf

BEP - 10 
Section 4 – Supporting Materials 

4.1 – Human Resources Table 

Reimbursable FTE FY 2006 FY 2007 FY 2008

BASE: Year-end Actual from Prior Year 2,282 2,190 2,300

Increases: 

Reason #1: Production of Redesign $100 (possible 0 110 0

additional production Step)

Subtotal, Increases 0 110 0

Decreases:

Reason #1 Realignment efforts/Technology upgrades 0 0 -50

Reason #2 End of postage stamp program (attrition) -55 0 0

Reason #3 Competitive Sourcing- Security Screening -10 0 0

(non-add, reflects overtime FTE savings)

Reason #4 FY 2005 Buyouts -27 0 0

Subtotal, Decreases -92 0 -50

Year end Actual/Estimated FTEs 2,190 2,300 2,250

Budgeted FTE's 2300 2300 2250

Net Change from prior year SOY to budget year EOY 60

Changes in Full Time Equivalents

4A – Human Capital Strategy Description 

To best position the Bureau of Engraving and Printing for the future, the bureau 

undertook a functional review of its organizational structure. The goal was to streamline 

organization and group similar functions to benefit from synergies. Elements of the 

Bureau’s strategy include: 

• Implementation of realignment to be completed in early FY 2007. 

• Mission critical training for all Bureau employees is documented in the “BEP Master 

Training Plan.” In collaboration with management, mission critical training is 

identified and made available to all Bureau employees. 

• Management’s annual performance goals and accomplishment of strategic goals are 

directly linked to the achievement of organizational goals. 

• All employee performance plans include core elements directly linked to 

organizational goals. 

BEP - 11 
• BEP’s Senior Management Service (SES) Candidate Development Program (CDP) 

reflects the Bureaus’ commitment to provide equal opportunities at the highest 

management levels and improve succession planning. Four CDP graduates were 

appointed to back-fill retired SES appointees with no interruption in leadership. BEP 

made seven selections for its second SES CDP program in 2005. 

• Successfully used pay incentive flexibilities to retain unique expertise that enabled 

the Bureau to meet its goals, for example to fully implement a $1 million dollar 

automation application. 

BEP - 12 
4.2 – Summary of IT Resources Table 

Dollars in MillionsInformation Technology Investments

Identify FY 2006 % Change FY 2007 

program that from FY05 % Ch

system is Operating Operating Obligations to President's from 

Major IT Investments (In millions) Budget Activity aligned to Plan Obligations Plan FY06 Budget to F

N/A 0 0 0 0% 0 

Total 0 0 0 0% 0 Non-Major IT Investments Technology1 N/A

Manufacturing Support Systems 0 0 1.1 100% 1.3 Public Sales System 0 0 0.78 100% 0.78 WebTA 0 0 0.35 100% 0.05 

Total 0 0 0 0% 0 Infrastructure Investments2 0 0 0 0% 0 

BEP Infrastructure (for Consolidation) Manufacturing 5.1 5.4 3 -44% 3 BEP Office Automation (for Consolidation) Manufacturing 4.7 4.4 4.3 -2% 3.7 BEP Telecommunications (for Consolidation) Manufacturing 0.61 0.61 0.64 5% 0.67 BEP Infrastructure Security (for Consolidation) Manufacturing 0.75 0.91 1.3 38% 1.8 

Total 0 0 0 0% 0 Enterprise Architecture N/A 2.3 2.3 1.2 -48% 1.3 Total IT Investments 0 0 0 0% 0 Note1: In FY 2005 and prior years, costs for these systems were included in BEP's Infrastructure and Office Automation programs.Note2: Infrastructure funding is consolidated into the Treasury Departmental Integrated IT Infrastructure Exhibit 300.

FY 2005

BEP - 13 
4B – Information Technology Strategy 

Information Technology (IT) and IT-Embedded Investments are fully aligned with BEP’s 

Strategic Plan and support the capture, analysis, validation and reporting of key product 

quality and resource measures to include: product quality, product spoilage, ink mileage, 

production costs.

Major Investments: BEP has no planned independent major investments. BEP 

participates as a partner in significant Treasury-wide enterprise level investments such as 

Treasury Communication System/Treasury Communication Enterprise, Homeland 

Security Presidential Directive -12, Internet Protocol version six and the Treasury 

Consolidated Infrastructure. 

Non-Major Investments: BEP is partnering with Treasury’s Capital Planning and 

Investment Control organization to breakout and align non-major investments in line with 

Federal Information Management Systems Management Act system designations. 

Limited additional non-major investments are planned to garner savings in administrative 

costs and to further automate supply chain management functions 

Infrastructure Investments: Appropriately categorized as part of Treasury Consolidated 

Infrastructure Investment. 

Enterprise Architecture: It is the policy of the Bureau of Engraving & Printing to 

implement and comply with the precepts and requirements of the Clinger-Cohen Act, the 

Government Performance and Results Act (GPRA), the Federal Information Security 

Reform Act (FISMA), OMB Circular A-130, “Management of Federal Information 

Resources,” OMB Circular A-11, Part 7, and associated Capital Programming Guide, and 

all applicable Federal Enterprise Architecture guidance issued by OMB, to include both 

the Federal Enterprise Architecture and associated reference models. 

BEP - 14 
4.3 – PART Evaluation Table 

PART Name: New Currency Manufacturing

Year PARTed: 2003

Rating: Effective

OMB Major Findings/Recommendations

Bureau Actions Planned or Underway

1. BEP works closely with the Advanced Counterfit Deterrent Steering Committee to identify and evaluate future counterfeit 

deterrent designs.

2. BEP/Treasury Department/Federal Reserve Board/United States Secret Service work together within the Advanced

Counterfeit Deterrent Steering Committee to assess impacts The Bureau participates jointly with these federal agencies to 

determine the effectiveness of current counterfeit deterrence features. The focus of the program is on both reliability of the

manufacturing process and incorporating advanced counterfeit deterrent features in bank notes and the effectiveness of these 

features through the course of daily cash transactions.

1. Monitor design and overhead costs related to the manufacture of New Currency to ensure the most effective production and

distribution of future denominations.

2. Continue to work with Federal partners to asess the impact of New Currency on counterfiting performance measures across 

government.

BEP's Protection and Accountability program reviewed in FY 2006 received an Effective 

rating from the Office of Management and Budget. 

For a complete list of PART results visit the following website: 

http://www.whitehouse.gov/omb/expectmore/all.html

BEP - 15