BEP –BEP - 1

Bureau of Engraving and 

Printing
 

FY 2015
 

President’s Budget
 
Table of Contents
 

Section 1 – Purpose ....................................................................................................................... 3

1A – Mission Statement .............................................................................................................. 3

1.1 – Resource Detail Table ........................................................................................................ 3

1B – Vision, Priorities and Context ............................................................................................ 3

Section 2 – Budget Adjustments and Appropriation Language ............................................... 8

2.1 – Budget Adjustments Table................................................................................................. 8

2A – Budget Increases and Decreases Description..................................................................... 8

2.2 – Operating Levels Table .................................................................................................... 11

2B – Appropriations Language and Explanation of Changes................................................... 11

2C – Legislative Proposals........................................................................................................ 11

Section 3 – Budget and Performance Plan ............................................................................... 12

3A – Manufacturing .................................................................................................................. 12

3.1.1 – Budget Activity Budget and Performance Plan ............................................................ 13

Section 4 – Supplemental Information...................................................................................... 14

4A – Summary of Capital Investments ..................................................................................... 14

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Bureau of Engraving and Printing FY 2013 FY 2014 FY 2015 FY 2014 to FY 2015 

Budgetary Resources Actual Estimated Estimated $ Change % Change 

FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT 

Revenue/Offsetting Collections 

Restoration of Sequestration 

Reduction* 

0 32,407 0 (32,407) -100.00% 

Other Income 

Federal Reserve Notes 671,500 690,801 697,467 6,666 0.96% 

Other Security Products 15,000 5,000 5,000 0 N/A 

Currency Reader Program 500 5,000 46,125 41,125 822.50% 

Total Revenue/Offsetting Collections 0 687,000 0 733,208 0 748,592 0 15,384 .00 2.10% 

Expenses/Obligations 

Manufacturing 

Direct Manufacturing 745 384,150 745 304,500 772 397,967 27 93,467 3.62% 30.70% 

Indirect Manufacturing 1,143 271,350 1,178 408,708 1,170 304,500 (8) (104,208) -0.68% -25.50% 

Currency Reader Program 2 500 2 20,000 2 46,125 0 26,125 N/A 130.62% 

0 0 0 0 0 0 0 0 N/A N/A 

Total Expenses/Obligations 1,890 656,000 1,925 733,208 1,944 748,592 19 15,384 0.99% 2.10% 

Rescissions/Cancellations 

Sequestration Reduction 32,408 0 0 0 N/A 

Total Rescissions/Cancellations 0 32,408 0 0 0 0 0 0 .00 N/A 

Net Results 0 654,592 0 733,208 0 748,592 0 15,384 .00 2.10% 

*Although shown as unavailable in the appendix, these funds are available in FY 2014. 

Section 1 – Purpose 

1A – Mission Statement 

To develop and produce United States currency notes trusted worldwide. 

1.1 – Resource Detail Table 

Dollars in Thousands 

1B – Vision, Priorities and Context 

The Bureau of Engraving and Printing (BEP) produces US currency notes ordered by the Federal 

Reserve Board. The Bureau began printing currency in 1862 and 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 through a revolving fund 

established in 1950 in accordance with Public Law 81-656. This fund is reimbursed for direct 

and indirect costs of operations, including administrative expenses, through product sales. 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, 

eliminating the need for appropriations from Congress. 

The Bureau also provides technical assistance and advice to other Federal agencies in the design 

and production of documents that require counterfeit deterrent features, due to their innate value 

or other characteristics. 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 customer requirements. 

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The mission of the Bureau of Engraving and Printing is to develop and produce United States 

currency notes, trusted worldwide, in support of Treasury’s strategic objective of “Facilitate 

commerce by providing trusted U.S. currency, services, and products for the American public 

and enterprises.” 

United States currency is used globally and as its designer and manufacturer BEP needs to 

achieve and maintain best in class practices in order to continue to have U.S. currency accepted 

worldwide. After years of research and development of cutting edge technologies, BEP is 

producing a new design $100 note that includes some of the most advanced counterfeit design 

features found anywhere in the world. This achievement required the focus and determination of 

the entire agency and is indicative of the challenges that lie ahead of BEP in its commitment to 

continuous redesign of US currency to stay ahead of increasingly sophisticated counterfeiters. 

FY 2015 Priorities 

Achieve BEP’s strategic goals - Produce U.S. currency that functions flawlessly in commerce; 

create innovative currency designs to provide effective counterfeit deterrence and meaningful 

access to currency note usage for all; achieve organizational excellence and customer satisfaction 

through balanced investment in people, processes, facilities, and technology. 

Product quality - Produce and deliver currency notes ordered by the Federal Reserve Board that 

consistently meet the customer’s high quality standards. 

Counterfeit Deterrence – Conduct research and development, and collaborate with key 

stakeholders in order to deter counterfeiting and maintain the public’s trust in the security and 

reliability of U.S. currency notes. 

Meaningful Access – Assist users of U.S. currency, including the blind and visually impaired, 

with the use and denomination of currency. 

In FY 2015, BEP, along with the U.S. Mint, will work to assess the future of currency. Driven in 

part by international demand, the number of currency notes in circulation has increased 

significantly over the past decade. However, improvements in Federal Reserve Bank processing 

and a longer note life have kept production relatively stable. The production and circulation of 

currency in the United States have been largely unchanged for decades, despite the growth in 

electronic financial transactions. Treasury is undertaking a comprehensive review of U.S. 

currency in order to efficiently promote commerce in the 21st century. 

Progress on Prior Year Priorities 

Continued production of the redesigned $100 note – The $100 note design represents the 

culmination of years of research and development that pushes the envelope of bank note design 

into a multi-dimensional instrument to thwart all manner of counterfeiting threats from 

increasingly sophisticated desk top technology to state-sponsored threats. As a result, the 

redesigned US $100 note, which began circulation in October 2013, became the first currency in 

the world to incorporate wide-strip, micro-lens technology (i.e. windowed thread) as a feature for 

counterfeit deterrence. 

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During 2013, BEP continued its commitment to meet the Department of the Treasury’s corporate 

goals with particular emphasis on small business and minority contracting, “Green” initiatives 

and natural resource conservation, discretionary spending reductions and cyber security. In 

2012, the BEP met all of the Treasury’s small and minority business goals for the year, received 

a 99 percent rating on the effectiveness of its cyber security program and exceeded OMB 

spending reduction targets for travel and training. In addition, BEP earned an excellent rating on 

the Department of the Treasury’s environmental sustainability scorecard. Equally noteworthy, 

BEP exceeded the Presidential Executive Order mandates for reducing use of fossil fuel, 

decreasing greenhouse gas emissions and has increased the use of alternative fuel vehicles for its 

motor vehicle fleet. In 2012, BEP was honored with the “Bob Baker Fleet Award” from the 

General Services Administration. 

BEP partnered with major stakeholders to resolve the technical challenges preventing consistent, 

quality production of the NexGen $100 note, the most problematic of which was creasing. BEP 

was able to address this significant technical problem, and the new note was placed into worldwide circulation by the Federal Reserve Board in the fall of 2013. 

Meaningful Access – The Bureau launched the EyeNote application for Apple devices with 

cameras in April 2011 as a means for the blind to denominate currency. EyeNote is a mobile 

device application that uses image recognition technology to denominate US currency. The 

application, which is provided at no cost, was recognized by Government Executive as one of the 

“10 mobile apps that are changing the way government does business.” In addition, BEP 

partnered with the Department of Education to develop a free app for the Android operating 

system. 

In 2014, BEP, working with the Library of Congress to leverage their expertise in providing 

assistive devices to citizens, began the distribution of electronic readers to the blind and visually 

impaired. It is estimated that 120,000 readers will be distributed in 2014. 

BEP is in the process of acquiring equipment that will enable the addition of tactile features to 

U.S. currency as well as continue the multi-year effort to retool BEP’s manufacturing processes 

with state-of–the-art intaglio printing press, electronic inspection systems, and finishing 

equipment. The successful implementation of this advanced technology will improve 

productivity, reduce environmental impact, and enhance counterfeit deterrence of U.S. currency. 

During FY 2015, BEP expects to produce and deliver 8.3 billion notes to the Federal Reserve 

Board to meet currency demand. The FY 2015 order represents no increase in the number of 

notes expected to be delivered in the FY 2014 program, however, in order to meet continued 

international demand, the anticipated FY 2015 order will include a larger proportion of the more 

costly, higher denomination notes. 

The importance of producing and delivering currency of consistently high quality, note after 

note, cannot be overstated. Increased production of the redesigned $100 note is in support of the 

transition from old note designs to new designs and to meet demand in the U.S. and abroad. The 

Federal Reserve estimates that as many as two-thirds of all $100 notes circulate outside the 

United States. This provides a significant economic benefit to the United States. 

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Over the last decade, research and development of new technologies for possible use in currency 

production has been a priority at the Bureau as more sophisticated counterfeit deterrent features 

are needed to protect future generations of currency notes. Via its website www.bep.gov and 

other Federal business opportunity websites, BEP seeks information about obtaining, testing and 

evaluating technologies or materials that may have potential application in the development of 

new counterfeit deterrent features in currency notes. Technologies or materials submitted for 

consideration are reviewed for inherent and relative effectiveness as potential new security 

features. In addition, they are reviewed for compatibility with design, potential production 

factors, durability and environmental acceptability. After obtaining submitter approval, BEP 

may also request experts working under government contracts to provide technical evaluation 

and adversarial analysis of possible counterfeit deterrent features. Features of interest include 

ink (intaglio, typographic and off-set) and ink additives, alternate and traditional substrates 

(paper or other media), substrate additives, design elements or techniques, diffractive, reflective, 

or other optically variable materials, laminated materials, hot-stamped materials, and others. 

BEP supports a comprehensive anti-counterfeiting program built around effective note design, 

public education and aggressive law enforcement. The Bureau will continue its work in 2015 

with the Advanced Counterfeit Deterrent (ACD) Steering Committee to research and develop 

future currency designs for the next family of re-designed notes that will enhance and protect 

U.S. currency notes. The ACD Committee includes representatives from BEP, the Department 

of the Treasury, the U.S. Secret Service, and the Federal Reserve Board. 

Work will continue in FY 2015 on the goal of enabling the Nation’s currency to better serve 

domestic and international users. The Bureau will be incorporating features into the next 

redesign of currency that will assist every American to better use and denominate currency. In 

addition, BEP will continue its efforts to research and develop tactile features that will enhance 

future note designs. Testing and refinement of features will continue to determine which 

processes and potential features work best at the production volumes needed for U.S. currency. 

While no timetable has been set for the introduction of this currency, the next redesign will 

incorporate changes to make U.S. currency more accessible to those who are blind and visually 

impaired. 

The Bureau’s FY 2015 Budget requests funding to continue the BEP Currency reader 

distribution program in coordination with the Library of Congress’ National Library Service. 

Under this program, United States citizens and legal residents who are blind or visually 

impaired are provided a currency reader free of charge to aid in the denomination of US 

currency. The FY 2015 request is based on a program that will provide an estimated 300,000 

readers to the blind or visually impaired. 

The production challenges associated with the NexGen $100 note highlighted the need for a 

fundamental re-engineering of process control and quality assurance at the BEP. BEP has 

partnered with the Federal Reserve Board to reinvent its quality management program based on 

best practices of leading manufacturers. To get to this level, the Bureau, in collaboration with its 

stakeholders, developed a robust Currency Quality Assurance (CQA) Program that began in 

2014. This re-invention is moving BEP from its traditional reliance on a reactive approach of 

quality control of inspecting to remove poor quality notes to a pro-active approach of building 

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quality in. Every BEP work activity must be aligned and resourced to support this integrated, 

collaborative and rigorous quality assurance program that will focus on every step of the supply 

chain from raw material inputs through the various manufacturing process steps to final 

packaging and delivery. This quality assurance approach reaches into nearly every “corner” of 

the BEP organization and its effectiveness depends on a strong cadre of process and production 

engineers, quality assurance specialists and other specialists in related science and engineering 

disciplines. 

Throughout 2014 and 2015, the Bureau will fill gaps in needed skill sets as well as reorganize to 

become quality focused and customer driven, while becoming leaner, flexible and nimble, and 

accountable for results. This aggressive change management process will improve the work 

place and engage employees to drive continuous improvement throughout the organization. 

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Bureau of Engraving and Printing FTE Materials Operating &

Capital Total 

FY 2014 Estimated 1,925 $304,500 $428,708 $733,208 

Changes to Base: 

Maintaining Current Levels (MCLs): - - $7,584 $7,584 

Pay-Raise - - $2,849 $2,849 

FERS Contribution Increase - - $2,172 $2,172 

Non-Pay - - $2,563 $2,563 

Efficiency Savings: (8) ($750) ($10,200) ($10,950) 

CQA Efficiencies/Reduced Spoilage - ($750) ($250) ($1,000) 

Contract Savings/Discontinue Contract for Historic

Resource Ctr - - ($500) ($500) 

Contract Savings/Discontinue Fitness Center

Contractor Support - - ($250) ($250) 

Defer Targeted Facilities Investments/Currency

Sheet Accountability Sys - - ($6,200) ($6,200) 

Offer Separation Incentives (VISP/VERA) - - ($400) ($400) 

Reduced Leased Parking Spaces by 50 Percent - - ($250) ($250) 

Release Non-Production TEMP Hires (8) - ($800) ($800) 

Water Usage Reduction/Recycling - - ($300) ($300) 

Reduced Custodial Contract - - ($1,000) ($1,000) 

Offer Voluntary LWOP Thanksgiving Week - - ($250) ($250) 

Subtotal Changes to Base 

Total FY 2015 Base 

Program Changes: 

(8) 

1,917 

($750) 

$303,750 

($2,616) 

$426,092 

($3,366) 

$729,842 

Program Decreases: - ($11,500) - ($11,500) 

Estimated Changes in Currency Manufacturing 

Program in FY 2015 - ($11,500) - ($11,500) 

Program Increases: 27 - $30,250 $30,250 

Warehouse Center for Excellence - - $2,000 $2,000 

Currency Reader Loaner Program - - $26,125 $26,125 

Direct Labor for Additional Production Processes 27 - $2,125 $2,125 

Total FY 2015 Estimated 1,944 $292,250 $456,342 $748,592 

 

 

 

Section 2 – Budget Adjustments and Appropriation Language 

2.1 – Budget Adjustments Table 

Dollars in Thousands 

2A – Budget Increases and Decreases Description 

Maintaining Current Levels (MCLs) ...................................................... +$7,584,000 / +0 FTE
 

Pay-Raise +$2,849,000 / +0 FTE 

Funds are required for the proposed January 2015 pay-raise and the annualization of the 2014 

pay-raise. 

FERS Contribution Increase +$2,172,000 / +0 FTE 

Funds are requested for increases in agency contributions to the Federal Employee Retirement 

System based on updated actuarial estimates. 

Non-Pay +$2,563,000 / +0 FTE 

Funds are required for non-labor costs such as travel, contracts, rent, supplies, and equipment. 

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Efficiency Savings .....................................................................................-$10,950,000 / -8 FTE
 

CQA Efficiencies/Reduced Spoilage -$1,000,000 / +0 FTE 

As a result of CQA efficiencies and spoilage reduction efforts, BEP anticipates better production 

yields. 

Contract Savings/Discontinue Contract for Historic Resource Ctr -$500,000 / +0 FTE 

By discontinuing the contractor support for BEP’s Historic Resource Center, BEP will decrease 

contract costs while having no impact on BEP’s primary mission. The restoration/preservation 

of historic pieces will resume when funding becomes available. 

Contract Savings/Discontinue Fitness Center Contractor Support -$250,000 / +0 FTE 

By discontinuing the contractor support for the BEP Fitness Center, BEP will decrease contract 

costs while having no impact on BEP’s primary mission of developing and producing United 

States currency notes, trusted worldwide. 

Defer Targeted Facilities Investments/Currency Sheet Accountability Sys -$6,200,000 / +0 FTE 

Delay implementing Currency Sheet Accountability System on the other production lines at both 

facilities. In addition, BEP continues to defer needed facility improvements to control cost. 

Offer Separation Incentives (VISP/VERA) -$400,000 / +0 FTE 

BEP plans to continue current right-sizing efforts by offering separation incentives 

(VERA/VSIP). Staff reductions in G&A will enable BEP to fill gaps in direct manufacturing 

and quality assurance positions. Savings reflects the net budget impact of reductions of high 

salary positions replace by, on average, more junior, lower salary staff. Involuntary separations 

may be necessary if sufficient reductions in labor costs are not realized. 

Reduced Leased Parking Spaces by 50 Percent -$250,000 / +0 FTE 

BEP will reduce leased parking space costs by 50 percent in FY 2015, evening and midnight 

shift employees will have priority for available spaces. 

Release Non-Production TEMP Hires -$800,000 / -8 FTE 

Releasing non-production TEMP hires will allow BEP to fill gaps in production related 

positions. 

Water Usage Reduction/Recycling -$300,000 / +0 FTE 

Efficiency savings from reduced chemical usage for manufacturing wiping solution as well as 

recycling waste water. 

Reduced Custodial Contract -$1,000,000 / +0 FTE 

BEP will reduce custodial service from 5 to 3 days a week at both facilities. 

Offer Voluntary LWOP Thanksgiving Week -$250,000 / +0 FTE 

Leave without pay will be offered during this timeframe which normally has a high demand for 

annual leave. 

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Program Decreases .................................................................................. -$11,500,000 / +0 FTE
 

Estimated Changes in Currency Manufacturing Program in FY 2015 -$11,500,000 / +0 FTE 

BEP formulates its budget request based on an estimated order. In July preceding the start of the 

fiscal year, BEP receives a finalized Federal Reserve note print order that may differ from the 

estimated order due to the uncertainty of international markets. BEP's original FY 2014 budget 

request was based on an 8 billion note program, however, the Federal Reserve Board currency 

order for 2014 increased from the original 8 billion note volume to a revised 8.3 billion note 

estimate due to an increase in the demand for U.S. currency. 

Program Increases ................................................................................ +$30,250,000 / +27 FTE
 

Currency Reader Loaner Program +$26,125,000 / +0 FTE 

During 2015 BEP will continue to work with the Library of Congress to distribute electronic 

readers to the blind and visually impaired. It is estimated that 300,000 readers will be distributed 

in FY 2015. 

Warehouse Center for Excellence +$2,000,000 / +0 FTE 

BEP requests funding for loading dock improvements and purchase of equipment to support its 

core mission. The Warehouse Center for Excellence program subleases BEP warehouse storage 

space to DO, IRS, FS and OCC; tenants will also benefit from proposed facility improvements. 

Direct Labor for Additional Production Processes +$2,125,000 / +27 FTE 

The Advanced Counterfeit Deterrence Steering Committee (Treasury, BEP, Federal Reserve and 

US Secret Service) has decided that new overt and covert security features are required for the 

next redesigned note to maintain the security of US currency. In addition, it must be designed to 

provide meaningful access to US currency for the blind and visually impaired to comply with a 

District Court ruling. The Secretary of the Treasury has approved the addition of a tactile 

feature, as well as other actions to provide meaningful access. The application of a tactile feature 

will require an additional production step. 

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Bureau of Engraving and Printing FY 2013 FY 2014 FY 2015 

Object Classification Actual Estimated Estimated 

11.1 - Full-time permanent 163,000 166,850 173,523 

11.3 - Other than full-time permanent 1,000 1,000 200 

11.5 - Other personnel compensation 0 2,250 2,250 

11.6 – Overtime 20,000 17,000 16,500 

11.9 - Personnel Compensation (Total) 184,000 187,100 192,473 

12.0 - Personnel benefits 48,000 53,000 54,922 

Total Personnel and Compensation Benefits $232,000 $240,100 $247,395 

21.0 - Travel and transportation of persons 1,000 1,300 1,300 

22.0 - Transportation of things 500 250 250 

23.1 - Rental payments to GSA 2,000 2,000 2,000 

23.2 - Rental payments to others 1,000 1,000 1,000 

23.3 - Communication, utilities, and misc charges 13,000 13,500 14,050 

24.0 - Printing and reproduction 250 500 250 

25.1 - Advisory and assistance services 3,750 3,500 3,250 

25.2 - Other services 53,750 61,211 60,222 

25.4 - Operation and maintenance of facilities 8,750 8,250 8,500 

25.5 - Research and development contracts 5,000 5,000 7,000 

25.7 - Operation and maintenance of equip 9,250 9,250 10,000 

26.0 - Supplies and materials 276,500 307,097 293,000 

31.0 – Equipment 49,000 80,000 100,125 

42.0 - Insurance claims and indemnities 250 250 250 

Total Non-Personnel 424,000 493,108 501,197 

Total Budgetary Resources $656,000 $733,208 $748,592 

Budget Activities: 

Manufacturing 656,000 733,208 748,592 

Total Budgetary Resources $656,000 $733,208 $748,592 

FTE 1,890 1,925 1,944 

*There are some variances between this chart and the budget appendix due to rounding. 

2.2 – Operating Levels Table 

Dollars in Thousands 

2B – Appropriations Language and Explanation of Changes 

The Bureau of Engraving and Printing receives no appropriated funds from Congress. 

2C – Legislative Proposals 

BEP has no legislative proposals. 

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Section 3 – Budget and Performance Plan 

3A – Manufacturing 

($748,592,000 from expenses/obligations): 

The BEP has one budget activity: Manufacturing. This budget activity supports all of BEP’s 

strategic goals. The goal owner for the Manufacturing budget activity is BEP’s Deputy Director 

Leonard Olijar. 

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, as well as the mix of 

denominations ordered year to year. As more sophisticated counterfeit deterrent design features 

are produced, paper and ink costs increase, resulting in increased total manufacturing costs. 

Actual performance against standard cost depends on BEP’s ability to meet annual spoilage, 

efficiency, and capacity utilization goals. In order to meet this measure, costs and other standard 

manufacturing performance metrics are tracked at each stage of production and corrections are 

made on the shop floor. In addition, production and quality metrics are discussed on a monthly 

basis at the executive level and corrective action plans are developed. In 2013 the cost of 

manufacturing was lower than anticipated, as the actual result realized for this measure was 

$50.45 per 1,000 notes produced against a target of $55.00. The performance goals for both 

2014 and 2015 reflect the continued increased production of high cost redesigned $100 notes as a 

proportion of the total annual order, and are set at $55.00 in both 2014 and 2015. 

Percent of currency notes returned due to defects is an indicator of the Bureau’s ability to 

provide a quality product. All notes delivered to the Federal Reserve go through rigorous quality 

inspections during the manufacturing process. In addition, notes are inspected a final time using 

the same inspection systems used at the Federal Reserve Banks. These inspections ensure that 

all counterfeit deterrent features, both overt and covert, are functioning as designed. BEP’s 

FY 2013 target for this performance metric was .0001 percent; however, BEP was unable to 

meet the target in FY 2013 as a production error in the NexGen $100 note caused greater than 

$30 million of these notes to be returned by the Federal Reserve. For 2014 BEP’s target for this 

performance metric will be held constant at .0001 percent for FY 2014 and FY 2015. 

BEP’s Best Places to Work in Federal Government Ranking is a based on the results of the 

Partnership for Public Service data on three questions in the Federal Employee Viewpoint 

Survey. This survey is sent annually to all Federal employees seeking their opinion on their 

organization’s leadership and programs relating to fairness, employee empowerment and 

recognition. In 2013 BEP’s ranking improved to 47 out of 300. The Bureau continues to sponsor 

activities and encourage employee engagement by contributing ideas and participation in events 

which are aimed at improving and maintaining the work environment for all employees. The 

Bureau will continue these efforts and is confident that this positive direction will continue. BEP 

will continue to target improvement in rank and maintaining our spot in the top 100. 

Reduction in Regulated Waste (Pounds of waste per 1000 notes delivered of regulated air 

emissions, wastewater, and solid waste combined) is a quantitative indicator of the effectiveness 

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3.1.1 – Manufacturing Budget and Performance Plan 

Dollars in Thousands 

Manufacturing Budget Activity 

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 

Actual Actual Actual Actual Actual Actual Estimated Estimated 

Expenses/Obligations $476,700 $469,000 $555,000 $517,750 $630,000 $645,150 $733,208 $748,592 

Budget Activity Total $476,700 $469,000 $555,000 $517,750 $630,000 $645,150 $733,208 $748,592 

FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 

Actual Actual Actual Actual Actual Actual Target Target 

Best places to work in Federal N/A N/A N/A 174 178 N/A N/A N/A 

Government ranking 

Lost time accident rate per 100 N/A N/A N/A 1.4 1.9 1.63 1.6 1.6 

employees 

Manufacturing Costs For 29.47 32.77 44.85 34.6 43.34 50.45 55.0 54.0 

Currency (Dollar Costs Per 

Thousand Notes Produced) ($) 

Percent of currency notes N/A N/A N/A .0 .0 .466 .0 .0 

delivered returned due to 

defects 

Reduction to BEP's three major N/A N/A N/A 32.7 31.2 31.2 31 32 

regulated waste streams (air 

emissions, wastewater, and 

solid waste) 

Measure 

Key: DISC - Discontinued and B - Baseline 

of BEP environmental programs, which are assessed through the BEP ISO 14001 certified 

Environmental Management System (EMS). This reflects the maturation of the EMS as well as 

the Bureau’s commitment to continually improve its Environmental Health and Safety (EHS) 

performance, as both of the Bureau’s two manufacturing facilities received unconditional 

recertification to the ISO 14001 standard in FY 2013. BEP’s FY 2013 performance of 31.2 

million pounds of regulated waste for this metric was against a target of 32 pounds per 1000 

notes delivered. 

Lost Time Accident Rate per 100 Employees measures the Bureau’s ability to reduce injuries 

and illnesses in the workplace. BEP’s key performance indicator is the annual Occupational 

Safety and Health Administration’s (OSHA) reportable lost time case rate and number of lost 

workdays. In 2013 BEP’s lost time case rate during the fiscal year was 1.63 against a target of 

1.6 cases per 100 employees The Bureau remains committed to improving the safety of its 

employees and has undertaken analysis to determine the root causes of injury and to identify best 

practices in safety. BEP will continue to allocate resources to have the greatest impact on 

preventing future injuries. BEP’s target for this performance metric will be held constant at 1.6 

per 100 employees for FY 2014 and FY 2015. 

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Summary of Capital Investments

 

Section 4 – Supplemental Information 

4A – Summary of Capital Investments 

The Bureau of Engraving and Printing’s (BEP) capital investment strategy is comprised of 

several broad investment categories with more specific smaller projects in each category. 

The Bureau’s mission to develop and produce U.S. Currency notes, trusted worldwide, demands 

that BEP continually update and improve its manufacturing processes by investing in new 

technologies and innovations. The Bureau is focused on building the capability to produce new 

currency designs with tactile features to provide meaningful access to US currency for the blind 

and visually impaired. 

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

Homeland Security Presidential Directive-12, HRConnect (a Human Resources Line of Business 

service provider) and the Treasury Learning Management System (TLMS). 

The Bureau’s IT portfolio includes a ‘cloud first’ approach to implementing business systems. 

The Oracle eBusiness Suite is an integrated manufacturing suite which runs at the Oracle 

Corporation’s “Federal on Demand” Shared Service Center in Austin, Texas. 

A summary of capital investment resources, including major information technology and nontechnology investments, can be viewed/downloaded at: http://www.treasury.gov/about/budgetperformance/Pages/summary-of-capital-investments.aspx 

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