BPD -1 

Bureau of the Public Debt 

Mission Statement 

To borrow the money needed to operate the federal government, account for the resulting 

debt and provide reimbursable support services to federal agencies. 

Program Summary by Budget Activity 

Dollars in Thousands 

Appropriation FY 2008 FY 2009 FY 2010

Enacted Enacted Request $ Change % Change

 Wholesale Securities Services $23,828 $23,438 $24,492 $1,054 4.5%

 Government Agency Investment Services $15,745 $17,723 $16,264 ($1,459) (8.2%)

 Retail Securities Services $135,690 $139,109 $142,645 $3,536 2.5%

 Summary Debt Accounting $7,608 $7,082 $8,843 $1,761 24.9%

Total Appropriated Resources $182,871 $187,352 $192,244 $4,892 2.6%

Total FTE 1,371 1,042 1,042 0 0.00%

Note: The FY 2010 Budget Request includes $10 million in projected user fee collections. 

FY 2010 Priorities 

• Protect and strengthen Treasury’s borrowing capabilities. 

• Improve tools for educating and communicating with our large investors. 

• Position Treasury to eliminate new issues of paper savings bonds. 

• Improve the quality and efficiency of service to retail customers. 

• Continually demonstrate accounting excellence by producing daily financial 

statements and receiving unqualified opinions on the annual audits of the Schedules of 

Federal Debt. 

• Gain efficiencies and strengthen controls by reducing the number of common 

business processes that serve federal investments, special purpose securities and 

federal borrowings from eighteen to six. 

• Continue to adopt technological advances to ensure Public Debt’s various information 

technology systems remain secure. 
BPD -2 

Table of Contents 

Bureau of the Public Debt ................................................................................................ 1

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

1A – Description of Bureau Vision and Priorities.......................................................... 3 

1B – Program History and Future Outlook..................................................................... 4 

Section 2 – Budget Adjustments and Appropriation Language................................... 7

2.1 – Budget Adjustments Table..................................................................................... 7 

2A – Budget Increases and Decreases Description ........................................................ 7 

2.2 – Operating Levels Table........................................................................................ 10 

2.3 – Appropriations Detail Table ................................................................................ 11 

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

2C – Legislative Proposals ........................................................................................... 12 

Section 3 – Budget and Performance Plan ................................................................... 13

3.1 – Budget by Strategic Outcome .............................................................................. 13 

3.2.1 – Wholesale Securities Services Budget and Performance Plan ......................... 14 

3.2.2 – Government Agency Investment Services Budget and Performance Plan....... 16 

3.2.3 – Retail Securities Services Budget and Performance Plan................................. 18 

3.2.4 – Summary Debt Accounting Budget and Performance Plan.............................. 20 

Section 4 – Supporting Materials .................................................................................. 21

4A – Human Capital Strategy Description ................................................................... 21 

4.1 – Summary of IT Resources Table ......................................................................... 23 

4B – Information Technology Strategy ........................................................................ 24 

4.2 – Program Assessment Table.................................................................................. 25 
BPD -3 

 Section 1 – Purpose

1A – Description of Bureau Vision and Priorities 

The Bureau of the Public Debt’s vision is to lead the way for responsible, effective 

government through commitment to service, efficient operations, openness to change and 

values-based behavior. In carrying out its mission and vision, Public Debt annually 

auctions and issues more than $4 trillion in Treasury bills, notes, bonds and Treasury 

Inflation-Protected Securities (TIPS); effectively administers the regulations that govern 

the primary and secondary Treasury securities markets; ensures reliable systems and 

processes are in place for issuing, transferring, paying interest on and redeeming Treasury 

securities; issues and redeems more than 70 million paper savings bonds each year; 

administers in excess of $4 trillion in investments for more than 240 federal trust funds; 

and provides timely and accurate information on the public debt. 

In support of Treasury’s strategic outcome of financing the government at the lowest 

possible cost over time, Public Debt’s top priority is to ensure the most efficient systems 

are in place to conduct borrowing operations and deliver securities services to investors. 

To this end, in FY 2008, Public Debt introduced an enhanced auction system. The new 

Treasury Automated Auction Processing System (TAAPS) provides improved bid-entry, 

quicker and easier access to data and greater reliability and security. The bureau also 

continues to enhance its TreasuryDirect system where retail customers can purchase and 

manage their holdings of Treasury securities over the internet. 

Public Debt’s major operational initiative is to consolidate all Government Agency 

Investment Services functions into a single integrated control environment by FY 2012. 

This will result in lower operational risks, more timely and accurate data and 

standardized system, business and data elements. To date, federal investments and 

borrowings functions are operating from the same automated platform and the effort to 

merge the State and Local Government Series (SLGS) program is underway. 

Positioning Treasury to eliminate new issues of paper savings bonds is an important goal 

for Public Debt’s retail program. The strategy to accomplish this goal centers on 

TreasuryDirect and electronic bonds, which are more efficient to issue and service over 

the long term than paper savings bonds. In the next few years, Public Debt will enhance 

its system and processes to attract investors to TreasuryDirect as their preferred way to 

buy and hold savings bonds. 

The retail program also places a high priority on improving the quality and efficiency of 

its customer service. Supporting this initiative is a multi-year vision to create a new 

service environment known as Treasury Retail E-Services (TRES). In the new 

environment, Public Debt and Federal Reserve Bank servicing sites will share common 

systems and databases. Customers will have access to a wide range of communication 

channels, many of which will encourage self-service to the greatest extent possible. This 

ambitious initiative promises a seamless experience for customers and increases 

efficiency by eliminating duplicative processes and creating more opportunities for 

customer self-service. 
BPD -4 

With its resources, Public Debt: 

• Conducts more than 200 marketable securities auctions annually, resulting in the 

issuance of more than $4 trillion in Treasury bills, notes, bonds and TIPS; 

• Administers in excess of $4 trillion in Government Account Series (GAS) 

investments, which amounts to approximately 40 percent of the public debt; 

• Manages some 6,300 active SLGS securities accounts valued at nearly $260 billion; 

• Serves more than 50 million retail customers holding marketable and savings 

securities, including nearly 300,000 investor accounts in the internet-accessed 

TreasuryDirect system; 

• Accounts for and reports on $250 billion in federal agency borrowings from Treasury 

in nearly 80 funds; 

• Accounts for and reports on the balance and composition of more than $10 trillion in 

public debt, the single largest liability on the federal government’s balance sheet, and 

reconciles more than $85 trillion in securities transactions reported from numerous 

systems to cash flowing in and out of the federal government each year; and 

• Receives unqualified audit opinions on the Schedules of Federal Debt annually. 

The total resources required to support Public Debt activities in FY 2010 are 

$214,076,000, including $192,244,000 from direct appropriations, of which $10,000,000 

are user fees, and $21,832,000 are from offsetting collections. 

1B – Program History and Future Outlook 

Public Debt continues to enhance the mechanisms for participation by a wide range of 

investors in its wholesale, government agency investment services and retail programs. 

Over the years, Public Debt has dramatically reduced the time required to complete 

marketable securities auctions. Results are consistently released within two minutes, plus 

or minus 30 seconds, of the closing of the competitive auction. In addition, 

non-competitive results are released 15 minutes prior to competitive close. By enhancing 

information availability and reducing the time bidders are exposed to the risk of adverse 

market movements, auction participants are likely to bid at more favorable rates and 

yields to the federal government. 

In FY 2008, Public Debt implemented a new auction system. The Treasury Automated 

Auction Processing System (TAAPS) fully automates the announcement, auction and 

issuance of marketable securities. At the same time, TAAPS provides greater speed and 

flexibility to Treasury debt managers in bringing new types of securities to market and 

implementing policy changes, such as offering 52-week Treasury bills and selling 

marketable securities in $100 – rather than $1,000 – increments. By eliminating manual 

processes, the system supports error-free auction results. Going forward, Public Debt 

will upgrade TAAPS to keep pace with changes in technology, ensuring financing 

operations are conducted timely and with 100 percent accuracy. 

Public Debt continues its commitment to provide efficient mechanisms for federal 

investments, special purpose securities and federal borrowings. As part of this effort, the 
BPD -5 

number of common business processes will be reduced from eighteen to six thus avoiding 

duplication. Common business processes are functions that support the GAIS line of 

business. They include funds management, investment accounting, standard reporting, 

customer interface, enhanced reporting and account maintenance. Ultimately, with 

standardized system, business and data elements, Public Debt can introduce stronger 

internal controls and reduce operational risks. 

Public Debt will provide its customers with the assistance they need to manage their 

federal investments, special purpose securities and federal borrowings effectively and 

efficiently as possible. One of the ways this will be accomplished is through education, 

including periodic seminars and orientation for new customers to ensure they understand 

and can take full advantage of Public Debt’s systems and services. Also, more extensive 

reporting capabilities will be made available to customers, which will better meet their 

needs. 

When Treasury introduces new instruments or changes to existing instruments available 

for federal agency investment, Public Debt will assist its customer agencies in 

understanding these changes and the implications for their investment operations. As 

new legislation is enacted or business processes change, Public Debt will support federal 

agencies’ implementation of these modifications. For example, Public Debt will work 

with its customers to implement Treasury’s major initiative to improve and streamline 

government-wide accounting through the capture of all necessary financial information at 

the first point of reporting. 

When legislation establishing investment authority for a new fund is vague or 

inconsistent, Public Debt experiences significant operational challenges, as do its 

customers, in trying to implement this new authority. Public Debt will support 

Treasury’s initiative to standardize legislation for all new investment funds by actively 

promoting Treasury’s preferred language to drafters of proposed investment legislation. 

Together, these initiatives will enable Public Debt’s customers to optimize the 

management of their investments. 

Providing quality customer service through efficient and effective business processes 

remains a key goal for the retail program. In FY 2010, Public Debt will be in the first 

stages of developing the Treasury Retail E-Services customer service environment that 

will allow its representatives to respond to customers more quickly and thoroughly. Also 

in FY 2010, Public Debt will enhance TreasuryDirect to simplify the process to give 

electronic savings bonds as gifts. 

Public Debt continues to work to improve the clarity, usefulness, and availability of 

federal debt information. Public Debt produces daily unaudited financial statements. 

Going forward, Public Debt will work to modernize its system used for public debt 

accounting by migrating common financial information to a shared service solution. 

Public Debt will begin defining requirements to reengineer business processes that best 
BPD -6 

support the needs of the Summary Debt Accounting program. Ultimately, this will 

reduce operational risks, while standardizing system, business and data elements. 

Although not supported by appropriated funding, Public Debt’s franchising program 

represents a significant part of the business and staff resources of the organization. As a 

recognized Shared Service Provider (SSP) in several business lines, the Administrative 

Resource Center (ARC) provides financial management, administrative support and 

information technology services to federal agencies, generating revenue to pay all 

organizational expenses. Because of the quality of the services provided, the depth and 

breadth of services provided to customers has grown. The vision of allowing agencies to 

focus on mission-related activities, while gaining efficiencies and increasing 

standardization through the use of SSPs is being realized. During FY 2009, ARC expects 

to use 971 FTE to service 70 customers and generate $148 million in revenue. In 

FY 2010, ARC projects revenue of $147 million and FTE levels to be unchanged. 
BPD -7 

Section 2 – Budget Adjustments and Appropriation Language 

2.1 – Budget Adjustments Table 

Dollars in Thousands 

Bureau of the Public Debt FTE Amount

FY 2009 Enacted 1,042 187,352

Changes to Base: 

Maintaining Current Levels (MCLs): - $4,892

GAO Audit - 1,500

Non-Pay Inflation Adjustment - 706

Pay Annualization - 1,135

Pay Inflation Adjustment - 2,495

Across the Board program reduction - (944)

Subtotal FY 2010 Changes to Base - $4,892

Total FY 2010 Base 1,042 192,244

Program Changes: 

Program Decreases: - ($1,734)

Government Agency Investment Services System (GAISS) Savings - (1,734)

Program Reinvestment: - $1,734

Hot-site Disk Storage Replacement - 498

Intrusion Detection and Security Infrastructure Refresh and Update - 338

Mainframe Software Upgrade - 598

Trusted Internet Connection Initiative - 300

Subtotal FY 2010 Program Changes - $0

Total FY 2010 President's Budget Request 1,042 192,244

User Fees - (10,000)

Total FY 2010 President's Budget Request (Net) 1,042 182,244

2A – Budget Increases and Decreases Description 

Maintaining Current Levels (MCLs) ...........................................+$4,892,000 / +0 FTE 

Across the Board program reduction -$944,000 / +0 FTE 

BPD continues to focus on improving the efficiency of its operations through a 

disciplined process of productivity improvement. 

GAO Audit +$1,500,000 / +0 FTE 

Resulting from the amendment to Public Law 110-323, which authorizes the 

reimbursement of annual financial statement audit costs to the Government 

Accountability Office (GAO), the Bureau of the Public Debt seeks $1,500,000 to 

reimburse the GAO for auditing the financial statements compiling the transactions and 

balances relating to the outstanding public debt. 

Non-Pay Inflation Adjustment +$706,000 / +0 FTE 

Funds are requested for non-pay related items such as contracts, travel, supplies, 

equipment and GSA rent. 

Pay Annualization +$1,135,000 / +0 FTE 

Funds are requested for the FY 2010 cost of the January 2009 pay raise. 

Pay Inflation Adjustment +$2,495,000 / +0 FTE 

Funds are requested for the January 2010 pay raise. 
BPD -8 

Program Decreases .........................................................................-$1,734,000 / +0 FTE 

Government Agency Investment Services System (GAISS) Savings -$1,734,000 / +0 FTE 

Due to the completion of the final major development, modernization and enhancement 

release, Public Debt projects a $1,734,000 savings for the Government Agency 

Investment Services System (GAISS). Through consolidation, Public Debt will 

streamline the technology used for supporting this business line and standardize its 

internal control of processes common to all Government Agency Investment Services 

programs. 

Program Reinvestment ..................................................................+$1,734,000 / +0 FTE 

Hot-site Disk Storage Replacement +$498,000 / +0 FTE 

Public Debt expects disk storage at the Kansas City disaster recovery hot-site to exceed 

its current service life and capacity. The current model is at over 90 percent capacity and 

can no longer be upgraded. New disk storage is expected to cost approximately $498,000 

and will ensure continued disaster recovery capabilities for systems that support 

Public Debt’s mission essential functions including but not limited to: payments to nonfederal entities, intragovernmental payments and receipts, TreasuryDirect payments, and 

Daily Treasury Statement reporting. 

Intrusion Detection and Security Infrastructure Refresh and Update +$338,000 / +0 FTE 

Aging technology requires Public Debt to replace and upgrade the majority of its 

Intrusion Detection and Security Event Management Infrastructure in FY 2010. The 

refresh will ensure continued availability and heightened security awareness of customer 

systems, including GAISS, TreasuryDirect and Public Debt’s website 

TreasuryDirect.gov. 

Mainframe Software Upgrade +$598,000 / +0 FTE 

Public Debt projects an increase in its mainframe processing capacity will be required in 

the near future. For several decades, Public Debt has successfully automated key 

components of its debt financing program — TreasuryDirect and TAAPS, the new 

auction system, are two excellent examples — that reflect a commitment to improvement 

through automation. As the number of transactions processed by the mainframe 

increases, so do operating software costs. With processing capacity needs growing at 

6 percent annually, due to Retail Securities initiatives and GAIS system consolidation, a 

software upgrade to the mainframe is required. 

Trusted Internet Connection Initiative +$300,000 / +0 FTE 

All internet and external connectivity must traverse a Trusted Internet Connection Access 

Provider (TICAP). As a result of demonstrated capability, and commitment to 

E-Commerce, E-Government and franchise related initiatives, Public Debt will submit a 

request to support two of the trusted internet connections within the Treasury TICAP. 

Public Debt will procure security devices and support at a cost of $300,000 in order to 

meet 100 percent of the capabilities. 
BPD -9 

Adjustments to Request User Fee ................................................-$10,000,000 / +0 FTE 

User Fees -$10,000,000 / +0 FTE 

For $100 account maintenance fees that Public Debt charges to account holders in the 

Legacy Treasury Direct system with an account balance of more than $100,000 in par 

value. 
BPD -10 

2.2 – Operating Levels Table 

Bureau: Bureau of the Public Debt FY 2008 

Enacted

FY 2009 

President's 

Budget

Cong. 

Action 

including 

Rescission

FY 2009

Enacted

Level

Proposed 

Reprogra

mmings

FY 2009 

Proposed 

Operating 

Level

FY 2010 

Requested

Level

% Change 

FY 2009 to

FY 2010

FTE 1,371 1,371 1,371 - (329) 1,042 1,042 0.00%

Object Classification:

11.1 Full-Time Permanent Positions..................... $79,716 $84,003 216 $84,219 (20,369) $63,850 65,422 2.46%

11.3 Other than Full-Time Permanent Positions.... 213 218 - $218 297 $515 528 2.52%

11.5 Other Personnel Compensation.................... 2,989 3,065 - $3,065 (983) $2,082 2,133 2.45%

11.8 Special Personal Services Payments............ - - - $0 31,891 $31,891 32,676 2.46%

11.9 Personnel Compensation (Total)............... $82,918 $87,286 216 $87,502 10,836 $98,338 $100,759 2.46%

12.0 Personnel Benefits........................................ 22,522 24,453 82 24,535 (6,064) 18,471 19,680 6.55%

13.0 Benefits to Former Personnel........................ 250 50 - (20) 50 30 40 33.33%

21.0 Travel............................................................ 1,661 1,673 - 1,673 (373) 1,300 1,338 2.92%

22.0 Transportation of Things............................... 90 91 - (10) 91 81 85 4.94%

23.1 Rental Payments to GSA.............................. 6,762 7,262 - 7,262 2,816 10,078 10,705 6.22%

23.2 Rent Payments to Others.............................. 2 2 - - 2 2 2 0.00%

23.3 Communications, Utilities, & Misc................. 14,197 14,339 - 14,339 (3,802) 10,537 10,502 -0.33%

24.0 Printing and Reproduction............................. 1,687 1,747 - 1,747 (297) 1,450 1,573 8.48%

25.1 Advisory & Assistance Services.................... 344 346 - 346 348 2 362 4.02%

25.2 Other Services.............................................. 29,037 26,249 - 26,249 26,401 152 27,490 4.12%

25.3 Purchase of Goods/Serv. from Govt. Accts... 10,376 10,448 - 10,448 11,384 936 11,853 4.12%

25.4 Operation & Maintenance of Facilities........... 868 874 - 18 892 874 929 4.15%

25.5 Research & Development Contracts............. - - - - - - - 

25.6 Medical Care................................................. 22 22 - - 22 22 23 4.55%

25.7 Operation & Maintenance of Equipment........ 3,906 3,933 - 3,933 3,939 4,101 6 4.11%

25.8 Subsistence & Support of Persons................ - - - - - - - 

26.0 Supplies and Materials.................................. 2,255 2,263 - 2,263 (807) 1,456 1,830 25.69%

31.0 Equipment..................................................... 5,752 5,792 - 5,792 (3,294) 2,498 -65.49% 862

32.0 Lands and Structures.................................... 220 222 - (99) 123 222 108 -12.20%

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

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

42.0 Insurance Claims & Indemn.......................... 2 2 - - 2 2 2 0.00%

43.0 Interest and Dividends.............................. - - - - - - - 

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

Total Budget Authority....................................... $182,871 $187,054 $298 $187,352 $0 $187,352 $192,244 2.61%

Budget Activities:

Wholesale Securities Services $23,828 21,047 34 21,081 2,357 23,438 $24,492 4.50%

Government Agency Investment Services 15,745 14,497 24 14,521 3,202 17,723 $16,264 -8.23%

Retail Securities Services 135,690 144,194 229 144,423 139,109 (5,314) $142,645 2.54%

Summary Debt Accounting 7,608 7,316 11 7,327 (245) 7,082 $8,843 24.87%

Total Budget Authority....................................... $182,871 $187,054 $298 $187,352 $0 $187,352 $192,244 2.61%
BPD - 11 

2.3 – Appropriations Detail Table 

Dollars in Thousands 

FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT

New Appropriated Resources:

Wholesale Securities Services 158 $21,350 179 $23,828 130 $23,438 133 $24,492 2.31% 4.50%

Government Agency Investment Services 115 15,445 118 15,745 99 17,723 88 $16,264 -11.11% -8.23%

Retail Securities Services 943 127,079 1,017 135,690 774 139,109 773 $142,645 -0.13% 2.54%

Summary Debt Accounting 50 6,793 57 7,608 39 7,082 48 $8,843 23.08% 24.87%

Subtotal New Appropriated Resources 1,266 $170,667 1,371 $182,871 1,042 $187,352 1,042 $192,244 0.00% 2.61%

Other Resources:

Offsetting Collections - Reimbursable 16 15,254 17 15,294 21,196 21,832 0.00% 3.00%

Available multi-year/no-year funds 3,612 4,512 2,972

User Fees 9,733

Recoveries 70 11

Subtotal Other Resources 16 $28,599 17 $19,876 0 $24,179 0 $21,832 0.00% -9.71%

Total Resources Available for Obligation 1,282 $199,266 1,388 $202,747 1,042 $211,531 1,042 $214,076 0.00% 1.20%

FY 2009

Resources Available for Obligation

FY 2008 FY 2008 FY 2010

Obligations Enacted 1/ Enacted 1/ Baseline 1/ to FY 2010

% Change

FY 2009

1/ Subtotal New Appropriated Resources include $10,000,000 in projected user fee collections. 

2B – Appropriations Language and Explanation of Changes 

Appropriations Language Explanation of Changes 

DEPARTMENT OF THE TREASURY 

BUREAU OF THE PUBLIC DEBT 

Federal Funds 

Administering the Public Debt 

For necessary expenses connected with any public-debt issues of 

the United States, [$187,352,000]$192,244,000, of which not to 

exceed $2,500 shall be available for official reception and 

representation expenses, and of which not to exceed $2,000,000 

shall remain available until September 30, [2011]2012, for 

systems modernization: Provided, That the sum appropriated 

herein from the general fund for fiscal year [2009]2010 shall be 

reduced by not more than $10,000,000 as definitive security 

issue fees and Legacy Treasury Direct Investor Account 

Maintenance fees are collected, so as to result in a final fiscal 

year [2009]2010 appropriation from the general fund estimated 

at [$177,352,000] $182,244,000. In addition, $90,000 to be 

derived from the Oil Spill Liability Trust Fund to reimburse the 

Bureau for administrative and personnel expenses for financial 

management of the Fund, as authorized by section 1012 of 

Public Law 101-380. [Omnibus Appropriations Act, 2009.] 
BPD - 12 

2B – Permanent, Indefinite Appropriations 

Reimbursements to the Federal Reserve Banks 

Public Law 101-509, 104 Stat. 1389, 1394 (1990), established a permanent indefinite 

appropriation to pay such sums as necessary to reimburse the Federal Reserve Banks for acting 

as fiscal agents. A permanent indefinite account was established in FY 1992. Claims for 

reimbursements are closely monitored for compliance with the Instructions for Filing 

Reimbursement Claims for Fiscal Agency Services Provided to the Bureau of the Public Debt 

(current edition). Funding for FY 2010 is estimated at $141,814,000. 

Government Losses in Shipment 

Public Law 103-329 established a permanent indefinite appropriation to pay such sums as 

necessary to make payments for the replacement of valuables, or the value thereof, lost, 

destroyed, or damaged in the course of United States government shipments. The Government 

Losses in Shipment Act was approved July 8, 1937, to dispense with the necessity for insurance 

by the government against loss or damage to valuables in shipment and for other purposes. The 

Act was amended in 1943 to cover losses resulting from the redemption of savings bonds (for 

example, stolen bonds which were fraudulently negotiated even though the paying agent 

followed identification guidelines established by the Treasury). All authority of the Treasury 

under the Act has been delegated to the Commissioner of the Bureau of the Public Debt. In FY 

2010, the funding estimated to support payments for the replacement of valuables is $500,000. 

2C – Legislative Proposals 

Public Debt has no legislative proposals for FY 2010. 
BPD - 13 

Section 3 – Budget and Performance Plan

This table lists all FY 2010 resources by strategic goal, objective and outcome outlined in the 

FY 2007-2012 Treasury Department Strategic Plan. The Treasury Strategic Plan is a corporate 

level plan for the Department that provides a description of what the agency intends to 

accomplish over the next five years. 

For detailed information about the FY 2007-2012 Treasury Strategic Plan, please go to: 

http://www.treas.gov/offices/management/budget/strategic-plan/

3.1 – Budget by Strategic Outcome 

Dollars in Thousands 

Treasury Strategic Outcome FY 2009 FY 2010 Percent

Enacted Request Change

 Government financing 200,665 204,229 1.8%

 Financial information 7,883 9,847 24.9%

Total $208,548 $214,076 2.7%

Note: Totals for each year include $10,000,000 in projected user fee collections. 

3A – Wholesale Securities Services ($24,492,000 from direct appropriations and $2,781,000 

from reimbursable programs): The Wholesale Securities Services program provides for the 

announcement, auction, issuance and settlement of marketable Treasury bills, notes, bonds and 

TIPS. It also provides an efficient infrastructure for the transfer, custody and redemption of 

these securities. Large market participants buy most of Treasury’s marketable securities at 

auction. In FY 2008, Public Debt conducted more than 200 marketable securities auctions 

resulting in the issuance of more than $5 trillion in securities. 

Public Debt began supporting Treasury on the Supplementary Financing Program (SFP) in 

September, 2008. Designed to support Federal Reserve initiatives to address liquidity pressures 

in the financial market, the program consists of a series of Treasury bills, apart from Treasury's 

current borrowing program, which provide cash for these Federal Reserve initiatives. Public 

Debt conducted nine SFP auctions totaling $345 billion over a two-week period in FY 2008. 

Treasury’s commercial book-entry system holds approximately $4.3 trillion, or 98 percent, of 

Treasury marketable securities. Treasury uses this system to issue most of its marketable debt, 

make principal and interest payments and support the active secondary market in Treasury 

securities. It is estimated that about $1.4 trillion per day in Treasury securities are transferred 

among account holders in the commercial book-entry system. 

 

This activity directly supports the Department of the Treasury’s strategic outcome of financing 

the government at the lowest possible cost over time. To help meet this outcome, Public Debt 

evaluates its business processes looking for ways to improve and strengthen contingency plans, 

guarantee operational readiness and enhance reporting capabilities. The bureau will also educate 

current and potential investors about Treasury’s debt financing policies, the auction process and 

its securities. 
BPD - 14 

Public Debt also has the responsibility of regulating the government securities market. 

Public Debt administers Treasury’s regulations that provide investor protection and maintain the 

integrity, liquidity and efficiency in the government securities market under the Government 

Securities Act of 1986, as amended. Public Debt also administers the rules for Treasury’s 

securities auctions and buybacks and prescribes provisions for Treasury’s Fiscal Service 

collateral programs, including collateral eligibility and valuation. Fiscal Service collateral 

programs ensure that government funds on deposit or invested at commercial banks are secured. 

Other Resources: 

Reimbursements totaling $2,781,000 are allocated to this program for providing administrative 

support to Public Debt’s franchise operation. 

3.2.1 – Wholesale Securities Services Budget and Performance Plan 

Wholesale Securities Services Budget Activity

FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Resource Level Obligated Obligated Obligated Enacted Request

 Appropriated Resources $17,987 $19,475 $21,350 $23,438 $24,492 

 Reimbursable Resources $1,594 $1,301 $1,494 $2,652 $2,781 

Total Resources $19,581 $20,776 $22,844 $26,090 $27,273

Budget Activity Total $19,581 $20,776 $22,844 $26,090 $27,273

Wholesale Securities Services Budget 

Activity

 Measure FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Actual Actual Actual Target Target

Cost per debt financing operation ($) (E) 148,926 235,172 220,732 256,336 254,272 

Percent of auction results released in 

two minutes +/- 30 seconds (%) (Oe) 

100 99 100 95 95 

Percent of primary dealers that are able 

to participate in a live auction from their 

disaster recovery site (%) (Ot) 

N/A N/A N/A 10 40 

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

Description of Performance: Public Debt tracks the cost per debt financing operation. Since 

Public Debt implemented a new auction system in FY 2008, administrative costs have reduced. 

In addition, due to the increased demand to meet the new government initiatives, the number of 

auctions has increased. Both combine for lower costs. The cost per debt financing operation is 

estimated at $256,336 in FY 2009 and $254,272 in FY 2010. 

In FY 2008, Public Debt surpassed its efficiency target of releasing auction results within two 

minutes, plus or minus 30 seconds, 95 percent of the time. 

In FY 2009, Public Debt will begin reporting on a new performance measure, percent of primary 

dealers that are able to participate in a live auction from their disaster recovery site. To date, 

Public Debt has discussed and received buy-in with all primary dealers on a strategic plan for 

business continuity. The plan outlines various operational tests and events that will strengthen 

overall readiness to deal with contingencies and ensure the continuity of the auction process. 
BPD - 15 

Public Debt is on target for 10 percent of all primary dealers having demonstrated their readiness 

by 2009, 40 percent in 2010, 60 percent in 2011 and 90 percent by 2012. 

3B – Government Agency Investment Services ($16,264,000 from direct appropriations and 

$1,847,000 from reimbursable programs): The Government Agency Investment Services 

(GAIS) program supports federal, state and local government agency investments in 

non-marketable Treasury securities as well as federal agency borrowing from Treasury. 

Public Debt offers two major non-marketable special purpose investment programs to 

government agencies. Government Account Series (GAS) securities are issued only to federal 

agencies with statutory investment authority. There are more than 240 trust and investment 

funds held by federal agencies. For 18 of the funds, Public Debt also maintains the investment 

accounts and performs additional administrative functions on behalf of the Secretary of the 

Treasury. These additional functions include processing receipts into and transfers out of the 

funds to the related federal program agencies for the purpose of administering the underlying 

programs that are supported by the trust funds. Some of the more recognizable federal trust 

funds are the four Social Security and Medicare Funds, as well as the Unemployment and 

Highway Trust Funds. With more than $4 trillion in investments, federal government and other 

entities’ holdings of GAS securities make up nearly 40 percent of the public debt outstanding. 

State and Local Government Series (SLGS) securities are issued to state and local government 

entities across the nation. At nearly $260 billion outstanding, the SLGS program is important to 

over 6,300 state and local government entities that use these securities to help comply with 

provisions of the Internal Revenue Code. 

Public Debt also accounts for and reports on the principal borrowings from and repayments to 

Treasury for approximately 80 funds managed by other federal agencies, as well as the related 

interest due to Treasury. These agencies are statutorily authorized to borrow from Treasury to 

make loans for a broad range of purposes, such as education, housing, farming and small 

business support. The funds hold about $250 billion in loans and loan guarantees. 

Public Debt’s services in this activity directly help customers produce timely and accurate 

financial information that contributes to the reliability and usefulness of the government-wide 

financial statements. Instant access to account information has significantly simplified 

reconciliation and audit confirmation efforts across the country and assisted SLGS purchasers in 

complying with Internal Revenue Service requirements related to the issuance of tax-exempt 

securities. 

Other Resources: 

Reimbursements totaling $1,847,000 are allocated to this program for providing administrative 

support to Public Debt’s franchise operation. 
BPD - 16 

3.2.2 – Government Agency Investment Services Budget and Performance Plan 

Government Agency Investment Services Budget Activity

FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Resource Level Obligated Obligated Obligated Enacted Request

 Appropriated Resources $14,599 $13,903 $15,445 $17,723 $16,264 

 Reimbursable Resources $3,418 $3,170 $4,279 $2,005 $1,847 

Total Resources $18,017 $17,073 $19,724 $19,728 $18,111

Budget Activity Total $18,017 $17,073 $19,724 $19,728 $18,111

Government Agency Investment 

Services Budget Activity

 Measure FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Actual Actual Actual Target Target

Number of Government Agency 

Investment Services control processes 

consolidated (Oe) 

N/A320

Cost per federal funds investment 

transaction ($) (E) 

62.64 68.53 64.98 69.11 54.69

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

5

Description of Performance: Public Debt established a long-term goal to reduce the number of 

systems used to support GAIS. Through systems reduction, Public Debt will streamline the 

diversity of technology involved in supporting this business line. Additionally, this effort will 

allow the bureau to consolidate and standardize the internal controls over processes common to 

all GAIS programs. The control environment originally consisted of 18 processes in 2006 that 

will be transformed into six standardized processes by FY 2012. Consolidating the systems that 

house GAIS data into a single, integrated control environment will provide one location for all 

investment activities. This will reduce operational risks, while standardizing system, business 

and data elements. In the beginning of FY 2008, the number of common processes was 15. In 

FY 2008, Public Debt reduced the number of common processes from 15 to 13. In FY 2009 

system development will continue, but the number of processes will remain the same. In 

FY 2010, five common processes will be consolidated leaving eight processes at the end of the 

fiscal year. 

In the GAIS budget activity, Public Debt has an efficiency measure to track the cost per federal 

funds investment transaction. Federal investments are special purpose securities issued only to 

federal agencies that manage trust, deposit and other special funds. Public Debt handles issuing, 

paying interest on and redeeming the securities held by each fund, as well as handling all of the 

debt-related accounting and reporting for the securities on the consolidated financial statement of 

the federal government. Reduced system development costs coupled with increased volumes 

result in lower costs. Public Debt projects the cost per federal funds investment transaction to be 

$69.11 for FY 2009 and $54.69 for FY 2010. 
BPD - 17 

3C – Retail Securities Services ($142,645,000 from direct appropriations, including 

$10,000,000 from user fee collections and $16,200,000 from offsetting collections and 

reimbursable programs): Public Debt’s Retail Securities program serves more than 50 million 

retail customers who have invested in marketable and savings securities directly with Treasury. 

Investors may hold these securities in book-entry or paper form. 

Public Debt will position Treasury to eliminate new issues of paper savings bonds. While there 

has been no date set for withdrawing paper bonds from sale, the efforts Public Debt will 

undertake are designed to move investors to TreasuryDirect as their preferred way of buying and 

holding savings bonds. In FY 2010, Public Debt will simplify the process in TreasuryDirect to 

buy electronic savings bonds as gifts. Given the traditional appeal of buying savings bonds as 

gifts, this will be a significant step in moving customers to the system. Other efforts to transition 

customers will be educational in nature, such as financial literacy programs that target customers 

not yet accustomed to conducting financial transactions online. 

In FY 2010, the retail program will also focus on improving the quality and efficiency of 

customer service by implementing the first phases of the new Treasury Retail E-Services (TRES) 

customer service environment. TRES will encourage self-service to the greatest extent possible 

by allowing customers online access to their own information, much like TreasuryDirect. In the 

new environment, all Public Debt and Federal Reserve Bank servicing sites will share common 

systems, databases and a call-center platform. TRES will increase efficiency by making prior 

transaction history available to customer service representatives, reducing the need for follow-up 

calls. No matter where customers live or which site receives their requests, they will receive the 

same high-quality service. 

Other Resources: 

Offsetting collections totaling $10,000,000 are collected for Legacy Treasury Direct Investor 

Account maintenance fees. In addition, $16,200,000 in reimbursements are allocated to this 

program for providing administrative support to Public Debt’s franchise operation. 
BPD - 18 

3.2.3 – Retail Securities Services Budget and Performance Plan 

Retail Securities Services Budget Activity

FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Resource Level Obligated Obligated Obligated Enacted Request

 Appropriated Resources $132,939 $133,425 $127,079 $139,109 $142,645 

 Reimbursable Resources $11,873 $9,047 $9,006 $15,738 $16,200 

Total Resources $144,812 $142,472 $136,085 $154,847 $158,845

Budget Activity Total $144,812 $142,472 $136,085 $154,847 $158,845

Retail Securities Services Budget 

Activity

 Measure FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Actual Actual Actual Target Target

Cost per TreasuryDirect assisted 

transaction ($) (E) 

4.97 6.65 8.19 9.34 9.64

Cost per TreasuryDirect Online 

transaction ($) (E) 

3.06 3.24 4.34 4.34 4.98

Percentage of retail customer service 

transactions completed within 11 

business days (%) (Ot) 

98.00 99.43 99.86 90.00 Discontinued 

Percent of retail customer service 

transactions completed within 5 business 

days (%) (Ot) 

N/A N/A N/A Baseline TBD 

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

Description of Performance: Public Debt has three performance measures for Retail Securities 

Services that include two efficiency measures and one output measure. 

The first efficiency measure is the cost per TreasuryDirect assisted transaction. Although 

TreasuryDirect promotes self-sufficiency, there are times when assistance from a customer 

service representative is necessary. Representatives handle phone and email inquiries, offline 

authentication forms processing, conversions, changes in bank information and transactions 

requiring legal evidence. Public Debt projects unit costs of $9.34 in FY 2009 and $9.64 in 

FY 2010. While workload should remain steady or increase slightly, it is sensitive to changes in 

market rates. When market rates are low, TreasuryDirect accounts are not likely to grow at the 

pace seen in prior years. Cost increases reflect additional direct and support costs to handle a 

continuing increase in more complex work. 

The second efficiency measure is the cost per TreasuryDirect online transaction. With 

TreasuryDirect, investors set up accounts, purchase electronic securities and manage their 

holdings. Since investors have this self-service capability, Public Debt tracks the cost of online 

transactions, including establishing accounts, purchasing and redeeming securities and changing 

account information online. Public Debt projects unit costs of $4.34 in FY 2009 and $4.98 in 

FY 2010 since workload is sensitive to changes in market rates. When market rates are low, 

TreasuryDirect accounts are not likely to grow at the pace seen in prior years. Workload is 

expected to remain steady, while costs to operate the TreasuryDirect system should remain 

relatively constant. 

The third measure includes the timeliness of processing retail customer service transactions, 

including answering phone and email inquiries, processing payments or changes to payment 
BPD - 19 

instructions and handling TreasuryDirect assisted transactions. In FY 2008, Public Debt 

completed more than 99 percent of retail customer service transactions within 12 business days, 

surpassing its target of 90 percent. In FY 2009, Public Debt reached the culmination of its 

long-term goal established in FY 2004 when it reduced the targeted timeframe to 11 business 

days. To further expedite service delivery, Public Debt will work to complete a progressively 

higher percent of retail customer service transactions within five business days from FY 2010 to 

FY 2014. Efficiencies gained from improved work processes and an increase in electronic 

transactions will allow Public Debt to meet these goals. 

3D – Summary Debt Accounting ($8,843,000 from direct appropriations and $1,004,000 from 

reimbursable programs): The Summary Debt Accounting program is key to meeting our 

responsibility to account for the more than $10 trillion of public debt and approximately 

$450 billion in related annual interest expenses. This program provides the overarching control 

structure for numerous subsidiary securities systems and reconciles more than $85 trillion of 

securities transactions and related cash flows handled by these subsystems annually. These cash 

flows represent funds received from the sale of securities and funds disbursed as interest and 

principal payments. 

The program produces daily reports on the balances and composition of the public debt, the 

Monthly Statement of the Public Debt, and the annual, audited Schedules of the Federal Debt, 

which report on the single largest liability in the annual Financial Report of the United States 

Government. 

Public Debt is committed to maintaining excellent accounting controls to ensure the integrity of 

operations and the accuracy of information provided to the public. The strength of its accounting 

controls is reflected in the unqualified audit opinions Public Debt has consistently received on 

the Schedules of the Federal Debt. 

The current system that accounts for the public debt of the United States, while still sound, 

presents challenges of managing an aging architecture, does not fit well within Public Debt’s 

enterprise architecture roadmap and does not accommodate rapid change. 

After determining the need to replace the current system, Public Debt has decided to seek an 

existing shared-service solution to which it can migrate the summary debt accounting data. This 

approach will offer many benefits in terms of a faster migration and reduced operational risks. 

Before implementing the desired technology solution however, Public Debt will engage in a 

thorough reengineering of the business processes to best support Summary Debt Accounting 

needs in the future. Public Debt expects this effort will redefine many reporting requirements, 

responsibilities and informational needs. Public Debt also expects to produce more consistent 

processes, drive improvements in the subsidiary reporting systems and ultimately create greater 

efficiency within its debt accounting programs at the summary and subsidiary levels. 

Other Resources: 

Reimbursements totaling $1,004,000 are allocated to this program for providing administrative 

support to Public Debt’s franchise operation. 
BPD - 20 

3.2.4 – Summary Debt Accounting Budget and Performance Plan 

Summary Debt Accounting Budget Activity

FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Resource Level Obligated Obligated Obligated Enacted Request

 Appropriated Resources $6,431 $6,769 $6,793 $7,082 $8,843 

 Reimbursable Resources $570 $452 $475 $801 $1,004 

Total Resources $7,001 $7,221 $7,268 $7,883 $9,847

Budget Activity Total $7,001 $7,221 $7,268 $7,883 $9,847

Summary Debt Accounting Budget 

Activity

 Measure FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Actual Actual Actual Target Target

Cost per summary debt accounting 

transaction ($) (E) 

10.96 9.29 9.11 10.01 12.28 

Percent of Summary Debt Accounting 

business processes restructured or 

eliminated (%) (Oe) 

N/A N/A N/A N/A 6.00 

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

Description of Performance: Public Debt has an efficiency measure to track the cost per 

transaction of performing summary debt accounting, which includes reporting all financial 

activity related to the public debt of the United States. Issues, redemptions and interest payments 

on the public debt must be accounted for to calculate the amount of debt outstanding and interest 

paid. Public Debt projects the cost per summary debt accounting transaction to be $10.01 in 

FY 2009 and $12.28 in FY 2010. The projected cost per summary debt accounting transaction 

increases as a result of inflation, transaction volumes that are projected to remain constant and 

statutory requirements in FY 2010 to reimburse GAO for the Schedules of the Federal Debt

audit. 

Also beginning in FY 2010, Public Debt will implement a new performance measure directly 

related to its goal of migrating Summary Debt Accounting to a shared service solution by 

FY 2013. The measure, Percent of Summary Debt Accounting business processes restructured 

or eliminated, will have a FY 2010 target of 6 percent. 

 

For detailed information about each performance measure, including definition, verification and 

validation, please go to: http://www.treasury.gov/offices/management/dcfo/accountabilityreports/
BPD - 21 

Section 4 – Supporting Materials 

4A – Human Capital Strategy Description 

Public Debt’s strategic management of human capital is consistent with its mission, vision and 

priorities and supports not only the President’s Management Agenda, but also Treasury’s 

strategic goals of Effectively Managed U.S. Government Finances and Management and 

Organizational Excellence. 

A prime component of Public Debt’s human capital strategy is operating as a values-based 

organization. Public Debt is known in the local and surrounding communities as a values-based 

organization where candidates want to work and employees want to stay. Public Debt’s 

recognition of the need for a balanced family and work life makes it an attractive employer. In 

fact, according to the report, Best Places to Work in the Federal Government 2007, Public Debt 

is ranked in the top 11 percent of federal agencies. This ranking is based on results from the 

Office of Personnel Management’s 2006 Human Capital Survey. 

Public Debt has developed a comprehensive recruitment program to attract candidates with the 

necessary competencies to minimize skill gaps. As a part of its program, Public Debt attends 

several career fairs each year and solicits applications through diversity specific magazines and 

websites to identify and hire a talented and diverse workforce. Extensive work is done with 

management before and during the recruitment process to identify staffing needs and pinpoint 

the particular characteristics and skills necessary for Public Debt to succeed. 

Public Debt relies on a full range of staffing and compensation authorities and flexibilities to 

recruit and retain high quality candidates. These flexibilities allow the bureau to secure talented 

candidates with the necessary skills to accomplish the mission. Specifically, Public Debt uses 

recruitment and retention incentives, superior qualifications appointments and student loan 

repayments to hire and retain quality candidates. The bureau has also been successful using 

special employment programs that provide a source of highly qualified applicants: Veterans’ 

Recruitment Act, Federal Career Intern Program and Student Career Experience Program. 

Succession planning is another important part of Public Debt’s human capital strategy. Public 

Debt is very successful in filling senior-level positions internally. This success can be attributed, 

in part, to leadership development programs and knowledge transfer techniques. To cultivate 

leadership and management skills, Public Debt uses programs such as Senior Executive Service 

(SES) Candidate Development and Supervisory Excellence, a training course required of all new 

supervisors within the first year of selection. 

Of Public Debt’s GS-13 level and above workforce, 38 percent are eligible to retire by 

December 31, 2013. At the SES level, however, the retirement eligible rate is 62 percent. To 

offset the future losses in the executive ranks, Public Debt has recently selected 11 candidates to 

participate in the SES Candidate Development program. 

Public Debt fosters a learning culture that provides employees at all levels with opportunities for 

continuous development. Management invests in education, training and other developmental 
BPD - 22 

opportunities to help employees build mission-critical competencies, both leadership and 

technical, benefiting the bureau. 

The readiness of the bureau’s workforce, including its mission critical occupations of Customer 

Service Specialist, Accountant and Financial Systems Analyst, is determined through skills gap 

assessments. These assessments determine training needs that will keep employee skills current 

and develop future training opportunities to prevent gaps. Training programs ensure that Public 

Debt employees are among the best trained in the government and remain abreast of new 

technologies affecting their work. 
BPD - 23 

4.1 – Summary of IT Resources Table Dollars in Thousands 

Information Technology Investments FY 2006 FY 2007 FY 2008 FY 2009 Major IT Investments / Funding Source Budget Activity Enacted Enacted

Likely 

Enacted Requested 

Government Agency Investment Services System (GAISS)/1

Government Agency Investment

Services $0 $4,447 0.0% $4,511 1.4% $5,493 21

Public Debt Accounting and Reporting System (PARS) Summary Debt Accounting $2,038 $1,914 -6.1% $1,971 3.0% $2,030 3SaBRe Retail Securities Services $4,344 $4,873 12.2% $4,640 -4.8% $4,795 3Treasury Automated Auction Processing System (TAAPS) Wholesale Securities Services $44,900 $47,080 4.9% $31,623 -32.8% $32,024 1

 Subtotal: TAAPS Appropriated Funding $2,996 $10,570 252.8% $11,332 7.2% $11,783 4

 Subtotal: TAAPS Permanent Indefinite Funding $41,904 $36,510 -12.9% $20,291 -44.4% $20,241 -0

TreasuryDirect/3 Retail Securities Services $5,013 $5,191 3.6% $7,640 47.2% $5,679 -25

 Subtotal: TreasuryDirect Appropriated Funding $5,013 $5,191 3.6% $5,389 3.8% $5,579 3

 Subtotal: TreasuryDirect Permanent Indefinite Funding $0 $0 0.0% $2,251 0.0% $100 -95

Subtotal, Major IT Investments $56,295 $63,505 12.8% $50,385 -20.7% $50,021 -0Non-Major IT Investments $9,456 $9,581 1.3% $9,793 2.2% $10,008 2Infrastructure Investments $24,563 $15,553 -36.7% $15,895 2.2% $16,375 3Enterprise Architecture $200 $321 60.5% $342 6.5% $352 2Total IT Investments $90,514 $88,960 -1.7% $76,415 -14.1% $76,756 0

1/ SPSS and InvestOne merged into GAISS beginning FY07.2/ Oracle e-Business Suites is self-funded.3/ TreasuryDirect Verification Services

% Change from 

FY06 to FY07

% Change 

from FY07 

to FY08

% Chan

from FY0

FY09
BPD - 24 

4B – Information Technology Strategy 

The Bureau of the Public Debt is responsible for the auctioning, issuing and accounting 

for the debt of the federal government. In order to ensure the success of this mission at 

the lowest cost to the taxpayer, the bureau has implemented and currently operates secure 

efficient IT investment systems that safely process a wide range of corporate and 

customer transactions. 

Public Debt will strengthen the protection of its systems and data while continuing to 

accomplish our mission. Achieving this requires integrating strategic business objectives 

with security technology. Public Debt provides effective enterprise solutions to protect 

systems and data against fraud, identity theft and other cyber-crimes. Areas of focus 

include E-Commerce, desktop security, mobile data devices, data encryption, 

identification and authentication controls and continuity of operations. 

Public Debt’s Capital Planning and Investment Control program is a disciplined, 

integrated process that addresses system prioritization of new and existing IT 

investments, risk management, long-range planning, business objectives, alternative 

analysis and governance. Public Debt’s quarterly enterprise architecture reviews ensure 

alignment of its IT investments to the strategic enterprise direction of Treasury and 

identify potential duplication of systems. 

By tracking and reporting the progress of each investment and the performance measures 

achieved each quarter, Public Debt ensures its IT system portfolio is well managed, cost 

effective and supports the strategic goal of Effectively Managed U.S. Government 

Finances. IT investments are monitored for cost, schedule and performance variances. 

Investments exceeding the tolerance are placed under a corrective action plan and 

monitored. Through Public Debt’s management of its IT system portfolio, the 

government’s critical financing needs are met while maintaining the integrity of primary 

and secondary markets for Treasury securities. Public Debt’s IT system portfolio is 

comprised of certified and accredited applications, ensuring financially secure 

E-Government systems. 

A new automated system to process Treasury auctions was implemented in FY 2008. 

This IT investment is the epitome of IT system efficiencies and was designed to fully 

automate the announcement, auction and issuance of Treasury marketable debt. The 

Treasury Automated Auction Processing System brings significant improvements to the 

auction process such as flexibility to accommodate new policy or process needs within a 

three- to six-month timeframe, greater speed and efficiency in conducting real-time 

calculations and delivering the auction results to the public within two minutes of an 

auction close. The shorter, consistent release of auction results reduces the time auction 

bidders are exposed to the risk of adverse market movements, thereby reducing the cost 

of borrowing for Treasury. 

The TreasuryDirect system is another example of Public Debt ensuring its IT system 

portfolio is well managed, cost effective, and critical to the achievement of the strategic 
BPD - 25 

goals and business objectives. TreasuryDirect is an internet-accessed system that offers 

all retail Treasury securities available to the public at one convenient location. The 

system is designed to maximize customer self-sufficiency and minimize off-line 

transaction processing by customer service personnel. By enabling investors to manage 

their Treasury securities holdings online, Public Debt better serves retail customers and, 

at the same time, manages resources more efficiently. The TreasuryDirect system 

continues to be enhanced using Rapid Application Development techniques that give the 

program manager the flexibility to quickly incorporate new functionality into the system. 

4.2 – Program Assessment Table 

Program Name: Administering the Public Debt

OMB Major Findings/Recommendations

Bureau Actions Planned or Underway

5. By FY 2014, significantly improve the number of retail customer service transactions completed within 5 business days.

2. By 2012, 90% of Primary Dealers demonstrate the ability to participate in a live auction from their disaster recovery sites.

3. Consolidate Government Agency Investment Services into a single, integrated control environment by FY 2012.

4. Migrate Summary Debt Accounting to a shared service solution by FY 2013.

1. By FY 2010, complete 90 percent of retail customer service transactions in 10 business days.

1. The Bureau of the Public Debt has a clear purpose and is well designed and managed.

2. The program meets its annual performance goals and continues to improve targets for subsequent fiscal years.

3. The Bureau of the Public Debt identifies new long-term goals to improve efficiency and effectiveness.

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

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