Message from the Secretary of the Treasury 

Dear Member: 

On behalf of President Biden, it is my pleasure to submit the Department of the Treasury's Fiscal 

Year (FY) 2022-2026 Strategic Plan and budget request for FY 2023. The new strategic plan

underscores the Department's commitment to promoting an equitable recovery and reengaging 

our allies, positioning Treasury to play a critical role in addressing a collection of challenges 

in the 21st century. The FY 2023 President's Budget invests in the core foundations of our 

country's strength and advances key Treasury Department priorities, including promoting 

equitable economic growth and recovery, enhancing national security, protecting financial 

stability and resiliency, combating climate change, and modernizing Treasury operations. The

FY 2023 budget request aligns resources to the Department's long-term goals and objectives, as 

described in Treasury's FY 2022-2026 Strategic Plan. The plan can be found on Treasury's 

website here.

Treasury's IRS request includes $14.1 billion to enhance the taxpayer experience including

reducing the paper inventory backlog and improving telephone and in-person service; facilitating 

better oversight of high income and corporate tax returns; and accelerating the development of

digital tools to enable smarter communication with taxpayers. In addition, the Administration 

continues to support multiyear investments in IRS enforcement to increase tax compliance and 

revenues that the President has previously proposed. 

The budget provides $215 million for the Department to address cybersecurity risk through 

securing systems and establishing zero trust architecture. The budget continues the recent 

expansion of the role of Community Development Financial Institutions with the goal of

empowering the nation's most vulnerable communities, including many rural communities. 

Additionally, the Treasury request supports new mission areas and growing workload in 

Departmental Offices, the Office of Terrorism and Financial Intelligence, and the Alcohol and 

Tobacco Tax and Trade Bureau. 

The budget includes $210 million for the Financial Crimes Enforcement Network to continue 

work on a data system that tracks the ownership and control of certain companies and 

organizations and helps combat the use of complex cprporate structures to shield illegal activity. 

The FY 2023 Budget includes the information required for the Annual Performance Report. I 

have validated the accuracy, completeness, and reliability of the performance data in this report. 

Sincerely, 

U.S. Department of the Treasury

FY 2023 Budget in Brief

Summary of FY 2023 President’s Budget

Executive Summary.........................................................................................................................1

Summary Tables and Charts

FY 2023 President’s Budget Discretionary Appropriations Request ...........................................1

Fiscal Year Comparison of Full-Time Equivalent (FTE) Staffing ...............................................4

Summary of FY 2023 Increases and Decreases............................................................................5

FY 2023 President’s Budget by Strategic Goal............................................................................6

Appropriated Accounts – Bureau Program Detail

Departmental Offices Salaries and Expenses ..................................................................................7

Cybersecurity Enhancement Account............................................................................................15

Department-wide Systems and Capital Investments Program.......................................................23

Terrorism and Financial Intelligence .............................................................................................27

Committee on Foreign Investment in the US (CFIUS) .................................................................31

Office of Inspector General ...........................................................................................................35

Treasury Inspector General for Tax Administration......................................................................39

Special Inspector General for TARP .............................................................................................43

Special Treasury Inspector General for Pandemic Recovery ........................................................47

Community Development Financial Institutions Fund..................................................................51

Financial Crimes Enforcement Network .......................................................................................55

Alcohol and Tobacco Tax and Trade Bureau ................................................................................59

Bureau of the Fiscal Service ..........................................................................................................67

Internal Revenue Service ...............................................................................................................75

Non-Appropriated Accounts – Bureau Program Detail

Office of Financial Stability...........................................................................................................85

Office of Financial Research... .....................................................................................................89

Financial Stability Oversight Council...........................................................................................93

Treasury Franchise Fund.....................................................................................97

Treasury Forfeiture Fund .............................................................................................................103

Bureau of Engraving and Printing ...............................................................................................107

United States Mint .......................................................................................................................113

Office of the Comptroller of the Currency..............................................................119

Treasury International Programs

International Programs.................................................................................................................121

Supplemental Information

Summary of FY 2023 Appropriations Language.........................................................................131

Mandatory Funding Levels for the FY 2023 President’s Budget – Treasury Chapter................143

Total Department of the Treasury (Treasury) Mandatory Budget....................................144

The information presented in the FY 2023 Budget in Brief is accurate and complete as of March 

28, 2022. Any updates will be reflected in the budget available on the Department of the 

Treasury website, www.Treasury.gov.

FY 2023 EXECUTIVE SUMMARY

President’s Budget Discretionary Appropriation Request 

Dollars in Thousands

FY 2021 Enacted 

(post IRS transfer)2

FY 2022

Annualized CR

FY 2022

Enacted

FY 2023 

President's Budget

FY 2023 

President's Budget 

(with IRS Technical 

Adjustments)3

Management & Financial $1,554,281 $1,554,281 $1,704,947 $2,056,804 $2,056,804 

Departmental Offices Salaries and Expenses $233,000 $233,000 $243,109 $293,242 $293,242 

Committee on Foreign Investment in the United States (CFIUS) $20,000 $20,000 $20,000 $20,000 $20,000 

CFIUS Fees ($20,000) ($20,000) ($20,000) ($20,000) ($20,000)

Subtotal CFIUS Fund (non add) $20,000 $20,000 $20,000 $20,000 $20,000 

Office of Terrorism and Financial Intelligence $175,000 $175,000 $195,192 $212,059 $212,059 

Cybersecurity Enhancement Account $18,000 $18,000 $80,000 $215,000 $215,000 

Department-wide Systems and Capital Investments Program $6,118 $6,118 $6,118 $11,118 $11,118 

Office of Inspector General $41,044 $41,044 $42,275 $43,878 $43,878 

Treasury Inspector General for Tax Administration $170,250 $170,250 $174,250 $182,409 $182,409 

Special Inspector General for TARP $19,000 $19,000 $16,000 $9,000 $9,000 

Special Inspector Pandemic Recovery $0 $0 $8,000 $25,000 $25,000 

Community Development Financial Institutions Fund $270,000 $270,000 $295,000 $331,420 $331,420 

Financial Crimes Enforcement Network $126,963 $126,963 $161,000 $210,330 $210,330 

Alcohol and Tobacco Tax and Trade Bureau $124,337 $124,337 $128,067 $150,863 $150,863 

Bureau of the Fiscal Service $345,569 $345,569 $355,936 $372,485 $372,485 

Digitization of Unredeemed Matured Savings Bonds Records $25,000 $25,000 $0 $0 $0 

Tax Administration1

Internal Revenue Service Total $11,919,054 $11,919,054 $12,594,054 $14,100,667 $14,100,667 

Taxpayer Services $2,587,606 $2,763,606 $2,780,606 $3,385,723 $3,684,593 

Enforcement $5,004,622 $5,004,622 $5,437,622 $5,861,649 $6,272,313 

Operations Support $4,104,102 $3,928,102 $4,100,826 $4,543,268 $3,833,734 

Business Systems Modernization $222,724 $222,724 $275,000 $310,027 $310,027 

Subtotal, Treasury Appropriations excluding TEOAF $13,473,335 $13,473,335 $14,299,001 $16,157,471 $16,157,471 

Treasury Forfeiture Fund Total ($75,000) ($75,000) ($175,000) $0 $0 

Permanent Rescission ($75,000) ($75,000) ($175,000) $0 $0 

Subtotal, Treasury Appropriation including TEOAF $13,398,335 $13,398,335 $14,124,001 $16,157,471 $16,157,471 

Treasury International Programs $1,890,319 $1,942,319 $2,056,460 $4,374,515 $4,374,515 

Multilateral Development Banks $1,481,244 $1,481,244 $1,527,172 $1,906,315 $1,906,315 

Food Security $32,500 $32,500 $48,000 $43,000 $43,000 

IMF PRGT Grant $0 $0 $102,000 $0 $0 

IMF Resilience and Sustainability Trust Subsidy Cost $0 $0 $0 $20,000 $20,000 

Environmental Trust Funds $139,575 $139,575 $274,288 $2,300,200 $2,300,200 

Office of Technical Assistance $33,000 $33,000 $38,000 $38,000 $38,000 

Debt Restructuring $297,000 $401,000 $134,000 $134,000 $134,000 

Total, Treasury Appropriations excluding TEOAF $15,363,654 $15,415,654 $16,355,461 $20,531,986 $20,531,986 

Total, Treasury $15,288,654 $15,340,654 $16,180,461 $20,531,986 $20,531,986 

1

FY 2021 Enacted (post IRS transfer) includes a transfer of $208 million from Enforcement to Taxpayer Services ($32 million) and Operations Support ($176 million).

3

The 2023 Budget includes changes to IRS appropriation language that allow the IRS to move certain support activities from the Operations Support appropriation to charge the full cost of 

mission activities to the Taxpayer Services and Enforcement appropriations. In the 2023 budget, the IRS proposes to move Rent and CFO expenses. These proposed changes are reflected here.

2

Excludes funding provided for COVID-19 Pandemic response.

4

In FY 2021, Congress also appropriated $120 million to Treasury's debt restructuring account for clearing Sudan's arrears with the IMF on an emergency basis. 

Executive Summary Department of the Treasury - Budget in Brief 1
MISSION STATEMENT

Maintain a strong economy by promoting conditions that enable equitable and sustainable 

economic growth at home and abroad, combating threats to, and protecting the integrity of the 

financial system, and managing the U.S. Government’s finances and resources effectively.

OVERVIEW OF REQUEST

The Budget requests $16.2 billion in base discretionary resources for the Department of the 

Treasury’s domestic programs. 

• Improves Taxpayer Experience and Supports a Fair and Equitable Tax System. Last 

year, the IRS delivered more than $600 billion in direct economic relief to American 

households and businesses through Economic Impact Payments, monthly advance child tax 

credit payments, and more. Yet the agency’s funding and staffing levels have not kept pace 

with its expanding scope. To ensure that taxpayers receive the highest quality customer 

service and that all Americans are treated fairly by the U.S. tax system, the Budget provides a 

total of $14.1 billion for the Internal Revenue Service (IRS). This includes an increase of 

$798 million above FY 2021 to improve the taxpayer experience and expand customer 

service outreach to underserved communities and the taxpaying public at large. The Budget 

also provides $310 million for IRS Business Systems Modernization to accelerate the 

development of new digital tools to enable better communication between taxpayers and the 

IRS. Increased funding for the IRS will also facilitate more effective oversight of high 

income and corporate tax returns. In addition to these resources, the Administration continues 

to support multiyear investments in IRS tax enforcement to increase tax compliance and 

revenues that the President has previously proposed. This investment reflects decades of 

analysis demonstrating that program integrity investments to enforce existing tax laws will 

increase revenues in a progressive way by closing the tax gap—the difference between taxes 

owed and taxes paid. 

• Expands Lending in Disadvantaged Communities and Increases Affordable Housing 

Supply. The Budget provides $331 million for the Treasury Community Development 

Financial Institutions (CDFI) Fund. To address the critical shortage of affordable housing in 

communities, the Budget also proposes $5 billion in long-term mandatory funding for CDFI 

financing of new construction and substantial rehabilitation that creates net new units of 

affordable rental and for sale housing. CDFIs provide historically underserved and often 

low-income communities access to credit, capital, and financial support to grow businesses, 

increase affordable housing, and reinforce healthy neighborhood development. 

• Increases Corporate Transparency and Safeguards the Financial System. Treasury 

plays a leading role in monitoring and disrupting corruption, money laundering, terrorist 

financing, and the use of the financial system by malicious actors domestically and abroad. 

Investment in Treasury staff and technical capabilities is critical to these efforts, including 

closing financial reporting loopholes that allow illicit actors to evade scrutiny, mask their 

dealings, and undermine corporate accountability. The Budget provides $210 million for the 

Financial Crimes Enforcement Network (FinCEN) to increase oversight of the financial 

sector, strengthen corporate accountability, and provide adequate support to law enforcement 

and investigative entities. In addition, the Budget provides $212 million to the Office of 

Terrorism and Financial Intelligence (TFI) to modernize and update the sanctions process 

Executive Summary Department of the Treasury - Budget in Brief 2
consistent with the findings of the Treasury 2021 Sanctions Review. 

• Strengthens Enterprise Cybersecurity. The Budget provides $215 million to protect and 

defend sensitive agency systems and information, including those designated as high-value 

assets. The Budget increases centralized funding to strengthen Treasury’s overall 

cybersecurity efforts and establish a Zero Trust Architecture. These investments will protect 

Treasury systems from future attacks and accelerate Treasury’s response to the SolarWinds 

incident and Log4j vulnerabilities. 

• Restores Critical Agency Capacity. The Budget provides $293 million for Treasury’s 

Departmental Offices to rebuild institutional capacity and strengthen the role of Treasury 

policy offices Additional funding for Treasury’s Climate Hub will support a sustainable 

economic recovery and advance climate goals both domestically and internationally, 

including domestic coal transition and engagement with international financial institutions. 

Increased staffing will also support assessments of climate-related financial risk arising from 

private insurance coverage gaps in regions of the country particularly vulnerable to climate 

change impacts. The Budget also builds institutional capacity to expand engagement with 

historically underrepresented and underserved groups and develop actionable goals to 

advance equity across all Treasury programs.

Executive Summary Department of the Treasury - Budget in Brief 3
Appropriation Direct Reimb. Total Direct Reimb. Total Direct Reimb. Total

Departmental Offices Salaries and Expenses 672 40 712 740 41 781 869 41 910 Terrorism and Financial Intelligence 524 35 559 561 41 602 624 41 665 Cybersecurity Enhancement 4 4 10 10 21 21 Office of Inspector General 189 189 190 190 190 190 Treasury Inspector General for Tax Administration 739 2 741 760 2 762 760 2 762 Special Inspector General for TARP 70 70 68 68 45 45 Special Inspector General for Pandemic Recovery 35 35 38 38 66 66 Community Development Financial Institutions Fund 67 67 82 82 89 89 Financial Crimes Enforcement Network 269 2 271 285 3 288 420 3 423 Alcohol and Tobacco Tax and Trade Bureau 487 14 501 508 12 520 548 12 560 Bureau of the Fiscal Service 1,922 15 1,937 1,866 9 1,875 1,896 9 1,905 Internal Revenue Service1 78,661 694 79,355 80,327 585 80,912 84,839 614 85,453 Subtotal, Treasury Appropriated Level 83,639 802 84,441 85,435 693 86,128 90,367 722 91,089 Office of Financial Stability (Administrative Account) 10 10 10 10 8 8 Small Business Lending Fund Program 2 2 2 2 2 2 Office of Recovery Programs2 42 42 193 193 178 178 Emergency Support Community Development Financial Institutions Fund, 3 3 12 12 12 12 Capital Magnet Fund 4 4 6 6 9 9 Office of Financial Research 111 111 143 143 163 163 Financial Stability Oversight Council 14 14 23 23 27 27 Treasury Franchise Fund 2,036 2,036 2,212 2,212 2,210 2,210 Bureau of Engraving and Printing 1,821 1,821 1,869 1,869 1,869 1,869 United States Mint 1,566 1,566 1,705 1,705 1,705 1,705 Office of the Comptroller of the Currency 3,491 3,491 3,555 3,555 3,555 3,555 Terrorism Insurance Program 7 7 8 8 10 10 IRS Private Collection Agent Program 334 334 460 460 821 821 Subtotal, Treasury Non-Appropriated Level 527 8,914 9,441 857 9,341 10,198 1,230 9,339 10,569 Total, Treasury 84,166 9,716 93,882 86,292 10,034 96,326 91,597 10,061 101,658 Fund, Homeowner Assistance Fund, Emergency Rental Assistance, State Small Business Credit Initiative (SSBCI) and Emergency Capital Investment Program.2/ Amounts include FTE related to Transportation Services, Payroll Support Program, Air Carrier Worker Support & Pandemic Relief for Aviation Workers, Economic Stabilization Program, Coronavirus Relief 1/ Amounts for the IRS include FTE funded from user fees, carryover, multiyear authority, and ARP supplemental funding.

Fiscal Year Comparison of Full-Time Equivalent (FTE) Staffing (Direct and Reimbursable)

2022 Annualized CR 2023 President's Budget 2021 Actual

Executive Summary Department of the Treasury - Budget in Brief 4
DO CFIUS2 TFI Cyber DSCIP OIG TIGTA SIGTARP SIGPR3 CDFI FinCEN TTB FS IRS Total

FY 2022 Annualized CR1 $233,000 $0 $175,000 $18,000 $6,118 $41,044 $170,250 $19,000 $0 $270,000 $126,963 $124,337 $370,569 $11,919,054 $13,473,335 

SIGPR Operating Level $13,000 $13,000 

Maintaining Current Levels (MCLs) $9,728 $0 $6,567 $0 $0 $1,516 $6,619 $537 $445 $0 $5,401 $4,604 $12,276 $436,363 $484,056 

Pay Annualization $1,179 $746 $211 $975 $62 $58 $462 $572 $1,593 $62,546 $68,404

Pay Raise $6,108 $4,142 $1,083 $5,018 $319 $299 $2,377 $2,942 $8,197 $321,837 $352,322

FERS Contribution Increase $0

Labor Adjustment $0

Non-Pay $2,441 $1,679 $222 $626 $156 $88 $2,562 $1,090 $2,486 $51,980 $63,330

Non-Recurring Costs (3,868) ($18,000) ($6,118) ($25,000) ($52,986)Efficiency Savings/Reinvestment $0 Other Adjustment/Initiative Annualization $17,365 $10,192 1,321 5,540 $7,000 $28,887 $4,493 $6,940 438,882 $520,620 

Adjustments to Base $23,225 $0 $16,759 ($18,000) ($6,118) $2,837 $12,159 $537 $7,445 $0 $34,288 $9,097 ($5,784) $875,245 $951,690FY 2023 Base $256,225 $0 $191,759 $0 $0 $43,881 $182,409 $19,537 $20,445 $270,000 $161,251 $133,434 $364,785 $12,794,299 $14,438,025 

Program Decreases ($10,537) ($10,537)CFIUS Fund Appropriation $20,000 $20,000 CFIUS User Fees ($20,000) ($20,000)Program Increases/Reinvestments $37,017 $20,300 $215,000 $11,118 4,555 61,420 $49,079 $17,429 $7,700 $1,306,368 $1,729,986 

Subtotal, Program Changes $37,017 $0 $20,300 $215,000 $11,118 $0 $0 ($10,537) $4,555 $61,420 $49,079 $17,429 $7,700 $1,306,368 $1,719,449 FY 2023 President's Budget funded from discretionary $293,242 $0 $212,059 $215,000 $11,118 $43,881 $182,409 $9,000 $25,000 $331,420 $210,330 $150,863 $372,485 $14,100,667 $16,157,474 1/ Excludes funding provided for COVID-19 Pandemic response. 2/ CFIUS Fund enacted levels are net appropriations including user fees.3/ In FY 2022 SIGPR did not receive funds under an annualized CR. The funds represented are the bureau's operating level.

Summary of FY 2023 Increases and Decreases

(Dollars in Thousands)

Executive Summary Department of the Treasury - Budget in Brief 5
FY 2023 President's Budget by Strategic Goal Dollars in Thousands

Treasury Goal/Objective

Promote Equitable 

Economic Growth

and Recovery

Enhance 

National 

Security 

Protect 

Financial Stability 

and Resiliency 

Combat 

Climate Change

Modernize 

Treasury 

Operations 

Other Critical 

Priorities1 Total

Management & Financial $701,234 $671,936 $173,361 $98,935 $370,795 $40,543 $2,056,804 

Departmental Offices Salaries and Expenses $104,824 $51,240 $41,688 $36,986 $58,504 $293,242 

Committee on Foreign Investment in the United States Fund $20,000 $20,000 

CFIUS Fees ($20,000) ($20,000)

Office of Terrorism and Financial Intelligence $175,293 $23,536 $4,329 $8,901 $212,059 

Cybersecurity Enhancement Account $215,000 $215,000 

Department-wide Systems and Capital Investments Program $7,141 $3,977 $11,118 

Office of Inspector General2 $1,711 $439 $1,185 $40,543 $43,878 

Treasury Inspector General for Tax Administration $138,631 $9,120 $1,824 $32,834 $182,409 

Special Inspector General for TARP $2,250 $1,800 $4,500 $450 $9,000 

Special Inspector General for Pandemic Recovery $23,750 $500 $750 $25,000 

Community Development Financial Institutions Fund $296,289 $35,131 $331,420 

Financial Crimes Enforcement Network $161,954 $10,517 $21,033 $16,826 $210,330 

Alcohol and Tobacco Tax and Trade Bureau $131,764 $3,669 $608 $14,821 $150,863 

Bureau of the Fiscal Service $3,725 $52,148 $93,121 $26,074 $197,417 $372,485 

Tax Administration3 $13,794,596 $56,732 $249,339 $14,100,667 

IRS Taxpayer Services $3,347,689 $38,034 $3,385,723 

IRS Enforcement $5,761,666 $45,652 $54,331 $5,861,649 

IRS Operations Support $4,375,214 $11,080 $156,974 $4,543,268 

Business Systems Modernization $310,027 $310,027 

Total, Treasury $14,495,830 $728,668 $173,361 $98,935 $620,134 $40,543 $16,157,471 

Non-Appropriated Accounts

Office of Financial Stability (Administrative Account) $33,612 $33,612 

Terrorism Risk Insurance (Administrative) $851 $2,268 $1,985 $567 $5,670 

Financial Stability Oversight Council $10,568 $1,865 $12,433 

Office of Financial Research $1,762 $59,916 $26,434 $88,112 

Bureau of Engraving and Printing $1,878,069 $8,148 $150,734 $2,036,951 

United States Mint4 $16,114 $402,859 $69,829 $48,343 $2,860,000 $3,397,145 

Office of the Comptroller of the Currency $122,516 $943,370 $61,258 $98,012 $1,225,156 

Federal Reserve Bank $54,800 $356,200 $34,250 $239,750 $685,000 

Reimbursable to the Federal Reserve Banks $15,040 $97,760 $9,400 $65,800 $188,000 

Financial Agent Services $80,960 $546,480 $50,600 $333,960 $1,012,000 

Total, Non-Appropriated Level $34,463 $293,460 $4,297,206 $235,349 $963,601 $2,860,000 $8,684,079 

Grand Total $14,530,292 $1,022,128 $4,470,568 $334,284 $1,583,734 $2,900,543 $24,841,550 

1 Other critical priorities include activities that are operationally focused and as such are not currently covered by specific strategies in the FY 2022-2026 Strategic Plan. 

3 This table does not include the proposed technical adjustment that would move certain support activities from Operation Support and charge the full cost of certain mission activities to the Taxpayer Services and 

Enforcement appropriations. The adjustment would reduce the Operation Support appropriation by $709.5 million for rent and CFO adjustments and increase the Taxpayer Services appropriation by $298.9 million 

and the Enforcement appropriation by $410.7 million.

2 The amounts in Other Critical Priorities for the Office of Inspector General are related to promoting the integrity, efficiency, and effectiveness in programs and operations within the Treasury Department and across 

OIG jurisdictional boundaries.

4 The amounts in Other Critical Priorities for the United States Mint represent the cost of metal.

Executive Summary Department of the Treasury - Budget in Brief 6
Departmental Offices Salaries and Expenses

Program Summary by Budget Activity

Dollars in Thousands

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023

Appropriated Resources Operating Plan Annualized CR Request % Change

New Appropriated Resources FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT 

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

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

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

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

Committee on Foreign Investment in the 

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

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

Other Resources

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

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

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

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

Summary

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

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

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

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

and cybersecurity and facilities improvements. 

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

equitable economic recovery through implementation of pandemic relief programs; protecting 

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

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

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

effectiveness of sanctions. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 7
Budget Highlights

Dollars in Thousands

FTE Amount

FY 2022 Annualized CR 740 $233,000 

Changes to Base:

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

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

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

Non-Pay 0 $2,441 

Non-Recurring Costs 0 ($3,868)

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

Transfers (2) 0 

Transfer of FTEs to SSP (2) $0 

Other Adjustments: 0 $17,365 

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

Subtotal Changes to Base (2) $23,225 

FY 2023 Current Services 738 $256,225 

Program Changes:

Reinvestments 22 $3,868 

Staffing to Support CFIUS Program Growth 22 $3,868 

Program Increases: 109 $33,149 

Departmental Offices Staffing* 86 $20,000 

Equity Assessment and Program Evaluation 10 $3,579 

Treasury Attaché Program Expansion 3 $3,074 

Staffing to Support Climate Initiatives 9 $2,473 

Cyber to Enhance National Security (OCCIP) 1 $295 

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

Facilities and Office Infrastructure 0 $2,543 

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

*Included in the FY 2022 President’s Budget

Budget Adjustments

Adjustments to Request

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

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

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

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

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

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

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

and equipment. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 8
Non-Recurring Costs ...................................................................................-$3,868,000 / -0 FTE

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

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

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

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

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

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

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

portion of these services.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

President’s Budget was submitted.

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

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

includes 6 major components, focused on improving support to both internal and external 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 9
priorities related to equity, including: 

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

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

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

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

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

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

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

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

assessments, other congressionally mandated impact studies focusing on equitable 

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

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

Increased support for Treasury-internal equity programs, including: 

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

continuous identification of opportunities to increase awards to underserved communities as 

required in EO 13985. 

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

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

annually) as required in EO 14035. 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

market participants;

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

with extended on‐the‐ground presence; and

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

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

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

and further the priorities of offices across DO.

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

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

2005 levels by 2030 and has outlined an ambitious plan to double international climate finance 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 10
and triple international adaptation finance by 2024, to support communities transitioning away 

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

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

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

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

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

strategy work program. 

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

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

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

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

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

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

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

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

staff.

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

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

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

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

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

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

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

collaboration with multilateral development banks, climate investment funds, the 

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

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

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

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

U.S. competitiveness.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

in U.S. businesses and government agencies. Even with additional staffing to support the 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 11
Financial Services sector amid an exponential increase of hacks globally, the sector will continue 

to experience substantial risk.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

DO Investments will enhance Treasury’s ability to:

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

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

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

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

within DO from potential ransomware.

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

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

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

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

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

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

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

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

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

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

DO to divert crucial resources away from other key priorities.

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

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

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

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

Main Treasury and Freedman’s Bank in need of substantial repairs due to recent emergencies 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 12
(e.g., water leaks, structural shortfalls, and elevator malfunctions) and the Secretary’s 

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

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

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

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

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

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

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

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

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

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

partners to accomplish Treasury’s mission. 

Legislative Proposals 

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

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

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

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

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

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

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

through September 30, 2026. 

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

budget appendix include the proposed language. 

Performance Highlights 

 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

International Affairs and 

Economic Policy OTA - Program Engagement 3.8 3.3 3.6 3.6 3.6

Treasury-wide Management and 

Programs

Treasury-wide Leaders Lead 

Index of the Federal Employee 

Viewpoint Survey (FEVS)

69 75 74 77 75

Treasury-wide Management and 

Programs

Percent of Procurement Dollars 

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

Description of Performance

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

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

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

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

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

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

to structure and execute effective technical assistance projects that support host country 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 13
ownership. The result for FY 2021 is 3.6, an increase of 0.3 from the FY 2020 result, 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

staff. 

Percentage of Procurement Dollars Spent on Small Business: 

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

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

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

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

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

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

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

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

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

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

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

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

business contracting goals for the following socioeconomic groups: 

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

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

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

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

group: 

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

2.2 percent. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 14
Cybersecurity Enhancement Account 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change 

Cybersecurity Enhancement Account (CEA) 18,000 18,000 215,000 197,000 1094.44% 

Subtotal, CEA $18,000 $18,000 $215,000 $197,000 1094% 

Recovery from Prior Years 1,500 2,000 2,000 0 0.00% 

Unobligated Balances Brought Forward 26,463 17,923 17,403 (520) -2.90%

Total Program Operating Level $27,963 $19,923 $19,403 ($520) 100.00% 

Direct FTE 4 10 21 11 110.00% 

Total Full-time Equivalents (FTE) 4 10 21 11 110.00% 

Summary 

To support the Department’s proactive and strategic approach to protecting and hardening the 

Treasury’s Information Technology (IT) infrastructure against cyber criminals and nation state 

actors, the FY 2023 budget request includes $215 million for the Cybersecurity Enhancement 

Account (CEA) to protect and defend sensitive agency systems and information and strengthen 

the role of the Treasury Chief Information Officer (CIO) in identifying, responding, and 

protecting against cyber threats. The request supports Treasury’s enterprise-wide investments, as 

well as $12 million for bureau specific investments that will extend and reinforce the security 

protections sought by CIO. 

The FY 2023 Budget request provides critical cybersecurity resources to support Treasury’s 

efforts to comply with the Executive Order 14028 (EO), Improving the Nation’s Cybersecurity 

as well as Office of Management and Budget (OMB) Memorandums, specifically M-21-31 

Improving the Federal Government’s Investigative and Remediation Capabilities (security 

logging) and M-22-09 Moving the U.S. Government Toward Zero Trust Cybersecurity 

Principles. CEA’s funding request also supports compliance efforts associated with Department 

of Homeland Security (DHS) Cybersecurity and Infrastructure Security Agency (CISA) guidance 

that sets new cybersecurity standards and objectives. These new directives also prioritize cloudbased security, security operations center (SOC) enhancements, universal encryption, and multifactor authentication (MFA). 

The CEA is positioned as a centralized account to support enterprise-wide cyber services and to 

further enhance cyber capabilities, providing a platform to enhance efficiency, communication, 

transparency, and accountability around the Treasury’s mission. The FY 2023 request elevates 

the importance of such initiatives and provides Treasury leadership, OMB, and Congress with a 

more holistic vantage point of cybersecurity activities across the Department. With the increase 

in cyber requirements and cascading deadlines, the Department is centralizing cybersecurity 

initiative leadership and oversight to gain operational efficiencies, ensure transparency and 

achieve enterprise-wide compliance for IT infrastructure. The enterprise-wide investment 

approach benefits the bureaus in their cybersecurity goals to create unified approach to cyber 

spending and stronger protections across the Department. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 15
The investments within the CEA continue to align with the National Institute of Standards and 

Technology (NIST) Cybersecurity core framework and reporting standards. This includes 

common cybersecurity activities and outcomes that are gaining use industry-wide: Identify, 

Protect, Detect, Respond, and Recover. 

Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2022 Annualized CR 10 $18,000 

Changes to Base: 

 Non-Recurring Costs (10) (18,000) 

Subtotal Changes to Base (10) (18,000) 

FY 2023 Current Services 0 $0 

Program Changes: 

Program Increases: 21 215,000 

Zero Trust Architecture Implementation 9 86,452 

Security Logging Requirements 0 23,329 

Cloud Enterprise Investment1 0 22,500 

Universal Encryption 0 16,467 

Multi-Factor Authentication 0 10,978 

Other Cybersecurity Priorities 9 43,050 

Bureau Specific Investments 

Cloud Adoption - Bureau of the Fiscal Service (Fiscal Service) 0 9,674 

FISMA Assessment Readiness Team - Departmental Offices 

 Salaries and Expenses (DO SE) 3 1,850 

Logging Requirements - Treasury Inspector General for Tax 

 Administration (TIGTA) 0 700 

Subtotal Program Changes 21 $215,000 

FY 2023 President's Budget Request 21 $215,000 

1The $22.5 million program increase for the Cloud Enterprise Investment includes enhancing and upgrading cloud security 

capabilities across the Department, including related IRS cyber activities. 

Budget Adjustments

Non-Recurring Costs ............................................................ -$18,000,000 / -10 FTE 

This amount represents non-recurring initial investments. 

Program Increases ............................................................+$215,000,000 / +21 FTE 

Zero Trust Architecture Implementation +$86,452,000 / +9 FTE 

This investment supports work towards a compliant zero trust maturity model. This large-scale 

investment approach requires Treasury to enhance visibility and threat detection at the 

application level to improve its ability to support continuous threat analysis, detection, and 

response, and enable the analysis of encrypted traffic. Reinforcing implementation of continuous 

identity verification and access policies, aligned with Zero Trust, will improve the Department’s 

resistance to fraudulent tampering of privileged accounts. 

Implementation of Zero Trust will initially be driven by focusing on the near-term actions 

required by OMB M-22-09, such as changes to password policies, building a new data 

categorization model, and making one “internal” system accessible over the Internet. Treasury 

will proceed with the transition to ZTA by planning projects on a pillar-by-pillar basis (Identity, 

Device, Network, Application, Data, as well as Monitoring/Visibility, Automation, and 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 16
Governance). Priority projects will be based on the risk reduction that will result, as well as the 

anticipated gain in Zero Trust Maturity they will provide weighed against the 

cost. Implementation of ZTA will require personnel resources with skillsets for managing the 

service providers to develop, test, and deploy the applications that have integrated security 

controls. 

Security Logging Requirements +$23,329,000 / +0 FTE 

Supports Treasury’s compliance efforts related to the security logging requirements outlined in 

OMB Memorandum M-21-31. This guidance requires all logs of security information captured, 

to be accessible and visible for the highest-level security operations center (SOC) at the 

Department. This will require expansion of the Treasury Shared Services Secure Operations 

Center (TSSSOC) enterprise logging solution to be able to receive, store, analyze and process 

security event and system logs from all Treasury offices and bureaus as well as the 39 Treasury 

Shared Services. 

The FY 2023 budget request for Security Logging Requirements will be used in the following 

ways: 

 Support appropriate acquisition of subject matter expertise for the development of an 

enterprise, centralized logging solution that leverages a single architecture and allows for 

segmentation of Bureau data, and presents efficiencies in collecting and distributing necessary 

information to external partners (e.g., CISA, FBI, etc.) 

 Stand-up the initial capabilities (resource support, development, migration, etc.) within the 

Treasury enterprise cloud program, Workplace Community Cloud (WC2) 

 Support initial storage requirements to centralize enterprise shared service program logs, with 

targeted expansion of architecture and migration of Bureaus logs to the centralized cloud-based 

storage solution 

 Expansion of enterprise license capacity to support centralized log management and the onramping of Bureaus from legacy licensing and log storage environments 

There are many factors that will impact on the costs associated with implementation of the 

security logging requirements. These factors include but are not limited to legacy licensing; 

contract structures; resources for O&M; and holistic storage requirements. The complexity of a 

federated bureau environment also proposes a unique challenge to ensure compliance. 

Cloud Enterprise Investment +$22,500,000 / +0 FTE

This investment is for cloud enterprise cyber security enhancements and upgraded capabilities to 

meet ever growing security and compliance risks. The Treasury enterprise cloud program 

enhances security controls, monitors capabilities, and increases threat protections by providing a 

common cloud operating platform for Departmental workloads inclusive of all the of the security 

elements driven by EO 14028 and subsidiary guidance. This will allow the bureaus to integrate 

into Treasury’s holistic security umbrella with a single pane of glass view for operational 

security elements such as the TSSOC. 

Treasury continues to improve, entice, and further accelerate enterprise-wide cloud adoption 

through investment in cloud environments. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 17
The FY 2023 budget request will support improvements in the following areas: 

 Identity Pillars - Includes migrations of cloud users to Azure Active Directory (AD) and 

implementation of Azure Defender for endpoints and users. Azure AD will enable the 

enterprise shared service cloud program to centralize and streamline governance and 

management of WC2 privileged accounts, and includes advanced threat protections such as 

automated detection, remediation and reporting of unusual activity using latest threat detection 

and analytics. 

 Network and Environment Segregation - Includes an architecture ZTA maturity assessment 

and implementation plan for both Treasury shared services cloud environments against NIST 

Zero Trust reference Architectures. Implementation will focus on security control 

enhancements to achieve the near-term ZTA vision and alignment to NIST container-based 

control security requirements. 

 Cloud Monitoring Tenant - Includes increased cloud telemetry, implementation for Trusted 

Internet Connection (TIC) 3.0 requirements, and consolidation of logging environments to 

reduce ongoing O&M costs and adopt the latest advances in log analysis. Additional security 

operations and threat hunting support will operationalize the data creating security dashboards 

to show potential security issues which require investigation. 

Universal Encryption +$16,467,000 / +0 FTE 

Supports Treasury’s commitment to fully comply with the encryption protocols outlined in EO 

14028 and subsidiary supporting material from OMB, CISA, NIST and other cybersecurity 

oversight entities. Encryptions allows information and data to be converted into code to prevent 

unauthorized access. This funding level is necessary to develop a more aggressive approach to 

these cyber protections which contributes to the adoption of ZTA. 

To further protections of the internet and email traffic across its networks, Treasury uses 

encryption protocols to prevent adversaries from being able to intercept and capture traffic as it 

flows between endpoints. EO 14028 and M-22-09 prescribe a heightened level of encryption for 

Domain Name System (DNS) and Hypertext Transfer Protocol (HTTP) traffic that all agencies 

should use to increase the security of information transfer, particularly across public networks 

such as the Internet. It is anticipated that no changes will be made to the DNS infrastructure to 

enable encryption, and that the work will focus on transitioning applications to use HTTPS for 

secure communication with users. Treasury is also implementing Data at Rest (DAR) and Date 

in Transit (DIT) encryption across its entire IT portfolio. 

Multi-Factor Authentication +$10,978,000 / +0 FTE 

This investment is for Multi-Factor Authentication (MFA), which is a critical part of the Federal 

Government’s security baseline and integral component of Treasury’s solutions to prevent 

unauthorized access by adversaries including nation state actors. 

 

EO 14028 directed agencies to remove passwords and fully adopt MFA to the maximum extent 

by November 2021. While Treasury has made substantial progress with the implementation of 

MFA capabilities, there is significant work to be done including compliance with subsequent 

memos impacting MFA like M-22-09, which places significant emphasis on MFA. The FY 2023 

funding levels support Treasury’s work to protect data at rest and in transit, which may include 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 18
personal identification of financial assets; collaborate with industry partners, and to also align 

with the FISMA requirements driven by CISA. 

Other Cybersecurity Priorities +$43,050,000 / +12 FTE

In FY 2023, Treasury will continue to make progress on ongoing critical cybersecurity 

investments that are in various Development, Modernization and Enhancement (DME) and 

initial Operation and Maintenance (O&M) phases. Continued funding of these critical 

investments is necessary to sustain progress made on some investments and launch new projects 

not previously identified. Responding to the changing threat landscape in an interconnected 

environment has amplified the need for identifying and assessing the security posture of high 

value assets as well as vendors within our supply chain. Additionally, based on the complex 

nature of cybersecurity, ongoing maturation of these programs is necessary to enable much 

needed visibility into the myriad of threats, vulnerabilities, and cybersecurity risks facing 

Treasury. Priority investments include but are not limited to: 

 Supply Chain Risk Management Enhancements (SCRM) 

 Enterprise Cyber Risk Management (ECRM) 

 Governance, Risk and Compliance (GRC) 

 High Value Assets (HVA) 

 Enterprise Threat and Vulnerability Management (ETVM) 

 Vulnerability Disclosure Policy (VDP) Platform 

 Ongoing SolarWinds Infrastructure and Post Incident Investments: 

o Threat intelligence providing proactive posture with regards to emergent threat (Post 

Incident) 

o Enterprise Application Security Improvements (Post Incident) 

o Annual Threat Hunt (Post Incident) 

o Hardware Security Modules (HSM) for generation and storage of security certificates 

(Infrastructure) 

Bureau Specific Investment +$12,224,000 / +3 FTE 

Cloud Adoption- Bureau of the Fiscal Service (Fiscal Service) +$9,674,000 / +0 FTE 

This investment will accelerate Fiscal Service’s Cloud Adoption from aging, costly platforms to 

optimize cloud‐based architecture that will enhance the resiliency of Fiscal Service’s systems 

and remediate Fiscal Service audit deficiencies. This applies to Fiscal Service’s specific 

portfolio of applications and systems. Many of Fiscal Service’s HVAs that support the National 

Critical Financial Infrastructure (NCFI) are currently hosted on aging platforms based on 

antiquated code. For example, one of these platforms is the Fiscal Service Mainframe, which 

costs $45.9 million annually substantial contractual costs that is anticipated to continue 

increasing over time. Consistent with the EO 14208, this funding will allow Fiscal Service to 

move over 60 FISMA systems to secure cloud services, including Software as a Service (SaaS), 

Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). It will also enhance the 

business continuity and disaster recovery of these systems. 

FISMA Assessment Readiness Team- Departmental Offices Salaries and Expenses (DO SE) 

$1,850,000 / +3 FTE 

This investment will establish an Assessment Readiness Team (ART) which will be responsible 

for conducting independent assessments of security policies, programs, and operations 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 19
throughout Treasury to identify gaps in a bureau’s security posture and close them before they 

can be exploited by cyber criminals and nation state actors. The ART will be responsible for 

conducting security control assessments ensuring incident detection controls are employed and 

identifying associated deficiencies to detect capabilities across Treasury systems. These 

assessments will be used to improve Treasury’s cybersecurity maturity model against technical, 

management and operational controls. 

Logging Requirements- Treasury Inspector General for Tax Administration (TIGTA) +$700,000 

/ +0 FTE 

This investment supports TIGTA’s plans to meet EO 14028 and subsequent OMB M-21-31. 

TIGTA will continue strengthening and operating its enterprise logging solution to meet current 

and future demands to: 

 Collect security event and system logs in real time for threat detection and compliance use 

cases. 

 Analyze logs in real time to detect attacks and other activities of interest. 

 Investigate incidents to determine their potential severity and impact on a business. 

 Report on these activities. 

 Store relevant events and logs. 

This will also enable TIGTA to perform the data collection needed to meet the requirements and 

automate the identification of unauthorized disclosure or access (UNAX) while also vastly 

improving the cyber detection capabilities. At the same time, it will meet on-going demands for 

improved efficiencies around cyber incident detection and response. The request will fund 12 

months of operations. 

Legislative Proposals 

The Cybersecurity Enhancement Account has no legislative proposals. 

Strategic Alignment 

The CEA is focused on an enterprise approach to bolstering and security of Treasury’s critical IT 

systems and infrastructure to meet these Department’s strategic goals and objectives 

uninterrupted. The CEA aligns with the following Treasury strategic goal and objectives as 

presented in the FY 2022- 2026 strategic plan: 

Goal 2: Enhance National Security 

 Objective 2.1 – Cyber Resiliency of Financial Systems and Institutions - Harden assets and 

systems of Treasury and the broader financial system to promote financial system resiliency. 

Goal 3: Protect Financial Stability and Resiliency 

 Objective 3.1 – Financial System Vulnerabilities - Identify and address current and emerging 

vulnerabilities to the stability of the U.S. and global financial systems to support more 

sustainable and equitable growth. 

 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 20
Performance Highlights 

FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Performance Measure Actual Actual Actual Target Target 

Number of Major Incidents 0 1 1 0 0 

Number of Reported Incidents 152 280 246 150 150 

Percentage of Tier I High Value Assets (HVA) 

where Risk and Vulnerability Assessment (RVA) or 

Security Architecture Review (SAR) are Completed 

on Time 

100 100 100 100 100 

Percentage of High and/or Critical Findings from 

RVAs or SARs on Tier I HVAs that are closed by 

the end of the FY 

57 80 80 75 75 

Description of Performance 

This year, CEA is working to align budget activities and performance measures to the new 

objectives in the Treasury FY 2022 – 2026 Strategic Plan. This work will include benchmarking 

performance and may result in changes to performance measures in the FY 2024 budget. 

Number of Major Incidents: 

The number of major incidents, as defined in OMB M-19-02, reported by Treasury to Congress 

in a given fiscal year. This is a measure of how effective Treasury’s collective defenses are at 

mitigating the most damaging security threats. The FY 2023 request includes additional funding 

to mitigate weaknesses identified and investments that support critical IT improvements. The 

FY 2022 and 2023 performance target of zero major incidents reported will be met through 

continued work to harden cybersecurity protocols, implementation of new cyber technology, 

interagency collaboration, increased training for cyber personnel, and customer feedback. 

Number of Reported Incidents: 

Each fiscal year, Treasury tracks the number of cybersecurity incidents reported to the United 

States Computer Emergency Readiness Team (US-CERT). In FY 2021, Treasury witnessed a 

lower number of incidents being reported, this is indicative of enhanced detection and mitigation 

capabilities. The FY 2022 and FY 2023 targets will remain flat. 

Percentage of High and/or Critical Findings from Risk and Vulnerability Assessment (RVAs) or 

Security Architecture Review (SARs) on Tier I High Value Assets (HVAs) that are closed by the 

end of the Fiscal Year (FY): 

This is a measure of how Treasury addresses the vulnerabilities and potentially exploitable 

weaknesses of its most important systems, based on its HVA assessment process. Treasury’s 

CEA performance targets are based upon the percentage of HVA system assessments that are 

conducted in accordance with the HVA assessment cycle and the closure rate of resulting 

findings and/or Plans of Action and Milestones (POAMs) within the fiscal year. Treasury has 

consistently recorded a 100 percent completion rate for system assessments and currently has a 

100% closure rate for associated findings and POAMs. It was decided that the FY 2022 and 

2023 targets will remain flat from FY 2021 numbers due to the likelihood of findings from HVA 

assessments requiring long-term remediation efforts. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 21
Department of the Treasury - Budget in Brief 22
Department-wide Systems and Capital Investments Program 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change 

Department-wide Systems and Capital 

Investments Program (DSCIP) $6,118 $6,118 $11,118 $5,000 81.73% 

Total Program Operating Level $6,118 $6,118 $11,118 $5,000 81.73% 

Total Full-time Equivalents (FTE) 0 0 0 0 0.00% 

Summary 

An icon of American architecture, the Main Treasury Building is the third oldest in use Federal 

building in Washington, after the Capitol and the White House. Unlike the Capitol or the White 

House, the Main Treasury Building is not under the jurisdiction of the Architect of the Capitol or 

GSA respectfully, but rather is the direct responsibility of the Treasury Department. The bulk of 

funding for its care through capital investments is provided through DSCIP. 

The Main Treasury Building was built with Congressional appropriations from 1836 to 1869. 

From 1909 to 1910, the building received a special appropriation to modernize its infrastructure, 

which helped to bring the building into the 20th century. A major fire in 1996 resulted in a series 

of Congressional appropriations that ushered the Treasury Building into the 21st century. Now, 

25 years later, the building faces a magnitude of issues that need to be addressed, some of which 

pose life safety concerns, including issues related to Treasury and the Freedman’s Bank 

Buildings’ external and internal infrastructure and security posture. 

Treasury’s FY 2023 request reflects a limited subset of those previously identified needs, which 

the Department plans to continue to work to address over time. The FY 2023 request builds on 

prior year efforts (which included requests in FY 2021 and 2022) to repair the outer envelope of 

the Main Treasury building, and also includes funding to address major repairs within the 

interior of the Main Treasury building. This request reflects Treasury’s three-step long-term 

strategy to continue to maintain and modernize its owned spaces: (1) secure the building’s outer 

envelope; (2) conduct a condition assessment to identify additional needs associated with the 

buildings’ continual aging and deferred maintenance; and (3) based on this assessment, conduct a 

holistic modernization of the building’s systems and infrastructure. The last facility condition 

assessment Treasury conducted was in 2016 which found a range of needs to be addressed. In 

2021 Treasury began a new assessment in an effort to update the list of outstanding projects to be 

addressed. Additionally, the request includes $5 million for the leasing of zero-emission 

vehicles and the purchase of associated charging infrastructure in support of the Administration’s 

goal of achieving 100 percent zero-emission vehicle acquisitions by 2035 for the federal vehicle 

fleet by 2035. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 23
Budget Highlights

Dollars in Thousands 

FTE Amount 

FY 2022 Annualized CR 0 $6,118 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $0 

Non-Recurring Costs 0 ($6,118) 

Main Treasury Exterior Repairs 0 ($6,118) 

Subtotal Changes to Base 0 ($6,118) 

FY 2023 Current Services 0 $0 

Program Changes: 

Program Increases: 0 $11,118 

Interior Repairs: includes elevator overhaul and basement wall waterproofing 0 $2,118 

Main Treasury Exterior Repairs 0 $4,000 

Electric Vehicle Leases and Infrastructure 0 $5,000 

FY 2023 President's Budget Request 0 $11,118 

Budget Adjustments 

Non-Recurring Costs ............................................................................... -$6,118,000 / + 0 FTE 

This amount represents the non-recur of investments funded within the FY 2022 annualized CR. 

Program Increases .................................................................................. $11,118,000 / + 0 FTE 

Interior Repairs: includes elevator overhaul and basement wall waterproofing +$2,118,000 / +0 

FTE 

Elevators-rebuild/overhaul-design, $500,000, +0 FTE 

Funding is requested for the Main Treasury elevators that were last renovated approximately 20 

years ago and are approaching the end of their useful life. Recently these elevators have 

experienced a higher level of failure issues including trapped building occupants. Failing 

elevators pose a significant risk of harm to Main Treasury employees and visitors and keeps 

Treasury from keeping compliance with life safety codes. This will fund an assessment of the 

elevators, and the renovation planning and design. 

Basement wall waterproofing - study/design – repair, $1,618,000, +0 FTE

Leaks in the basement level of the Freedman’s Bank Building have impacted use of secure office 

spaces due to safety and health concerns. To address the water intrusion issues and prevent 

increased future damage, an excavation along the south side of the building will need to be 

conducted. Additionally, below-grade area waterproofing, backfill, and restoration of the 

surrounding area would be required to permanently address the water intrusion issues. water 

intrusion will eventually undermine the structure. This request will support the study to 

complete the design as well as partial repairs of the space. 

Main Treasury Exterior Repairs +$4,000,000 / +0 FTE 

Treasury’s request continues critical renovations and maintenance of the outer shell of the Main 

Treasury (MT) and Freedman’s Bank Building (FBB) facilities, with the primary goals of 

preventing continued water intrusion and repairing key structural components. Work items 

include repairs to masonry and windowsills. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 24
This will fund phase four of the multiyear effort to maintain the building and to prevent more 

expensive repair work, as deterioration continues, to include weather intrusion that is impacting 

interior spaces that require remediation and can cause mold, which impacts air quality and 

creates a health and safety risk to staff. Phase four covers the remainder of the Hamilton/South 

entrance and the East/15th St. façade of the MT building. This funding covers exterior repairs, 

but it is possible the repairs will uncover additional unanticipated structural issues that could 

require additional funding requests. 

Treasury Departmental Offices’ (DO) existing repairs and improvements budget is only $450K, 

while the cost of maintaining historic office buildings of similar size to MT and FBB is 

approximately $2M in funding annually. This has the potential of creating health and safety 

issues regarding both air quality and structural integrity of the building itself. 

Electric Vehicle Leases and Infrastructure +$5,000,000 / +0 FTE 

Treasury is committed to supporting the Administration’s goals of combatting the impacts of 

climate change. The Department of the Treasury is accelerating the conversion of its vehicle fleet 

to electric vehicles (EVs) as a part of strategic objective 4.4 (Sustainable Treasury 

Operations). In order to facilitate this transition, $5 million is being requested by Treasury in 

FY 2023 in the Department-wide Systems and Capital Investments Program account for leasing 

of EVs and purchasing associated charging and supply equipment. Funding will be used for the 

replacement of traditional internal combustion vehicle leases with zero-emission vehicles across 

the Department. Where possible, electric vehicles will replace traditionally powered leased 

vehicles as well. Additional charging station infrastructure will be installed to support fleet 

electrification. Some existing charging stations will require updates or replacement. Electrifying 

the Treasury fleet will support environmental and energy sustainability and will make Treasury 

more adaptive and resilient to the impacts of climate change. 

Legislative Proposals 

DSCIP has no legislative proposals. 

Description of Performance 

Treasury Owned Buildings - Repairs and Renovations 

Treasury Operations has continued to strategically focus on restoring the health of the building 

envelope (shell), in an effort to correct the deteriorating building structure and infrastructure. 

The FY 2021 contract award of the expanded Facility Condition Assessment (FCA) will provide 

an update and validation to the immediate repair needs that will identify long-term capital 

expenses based on the expected useful life of building systems and components. The FCA will 

also allow Treasury to identify ways to modernize Treasury facilities to improve energy 

efficiency and sustainability. Treasury Operations has enlisted non-reimbursable staffing 

resources to identify ways to improve Treasury’s sustainability and decrease Treasury’s carbon 

footprint, and the FCA will be invaluable in establishing a baseline from which Treasury can 

identify areas where sustainability or energy efficiency can be improved (e.g., legacy mechanical 

systems, more efficient building envelope, etc.) consistent with strategic objective 4.4. Work on 

the expanded FCA began in December of 2021. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 25
In addition to immediate repairs and long-term needs, the expanded FCA will provide feedback 

on code and Americans with Disabilities Act compliance. In doing so, it will also allow 

Treasury to provide a safer, more inclusive, and more comfortable environment for Treasury 

staff, which should contribute to the productivity and morale of employees within these buildings 

consistent with strategic objective 5.4. 

SolarWinds Response 

Due to the large scope of the SolarWinds incident remediation, in May 2021 Treasury realigned 

$3.7M from the FY 2021 DSCIP appropriation to address immediate cybersecurity requirements. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 26
Terrorism and Financial Intelligence 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change 

Terrorism and Financial Intelligence $175,000 $175,000 $212,059 $37,059 21.2% 

Subtotal, Organization Title $175,000 $175,000 $212,059 $37,059 21.2% 

Offsetting Collections - Reimbursable $8,280 $10,500 $10,500 $0 0.00% 

Total Program Operating Level $8,280 $10,500 $10,500 $0 0.0% 

Direct FTE 551 561 624 63 11.2% 

Reimbursable FTE 35 41 41 0 0.0% 

Total Full-time Equivalents (FTE) 586 602 665 63 10.5% 

FY 2021 Other Resources and Full-time Equivalents (FTE) reflect actuals. 

Summary 

TFI requests $212.059 million, which is a $37.059 million increase from the level of the 

FY 2021 Operating Plan. TFI requests these additional resources to continue to invest in its 

people. As reliance on TFI’s authorities has grown, the corresponding growth in personnel 

across TFI and increased demand placed upon secure systems requires additional investment in 

mission support areas. This request also promotes targeted investments that will strengthen U.S. 

national security, including financing for classified systems technology, sanctions efforts, 

Department-wide counterintelligence efforts, a legislatively-mandated Kleptocracy Rewards 

Pilot Program. The FY 2023 budget prioritizes funding for Treasury’s targeted financial tools 

that protect the U.S. and international financial system from abuse, as well as countering the 

financial networks that support terrorists, weapons proliferators, organized transnational crime, 

rogue regimes, and other threats. 

Budget Highlights 

FTE Amount

FY 2022 Annualized CR 561 $175,000

Changes to Base:

Maintaining Current Levels (MCLs): 0 $6,567

Pay Annualization (FY 2022 2.7% average pay raise) 0 $746

Pay Raise (4.6% average pay raise) 0 $4,142

Non-Pay 0 $1,679

Other Adjustments: 14 $10,192

Adjustments to Meet Current Operating Levels 14 $10,192

Subtotal Changes to Base 14 $16,759

FY 2023 Current Services 575 $191,759

Program Changes:

Program Increases: 49 $20,300

Enhance the IC's Economic Security and Financial Intelligence 32 $8,000

Upgrade Treasury’s Secure Space and Network Infrastructure 0 $2,281

Emerging Sanctions Programs 13 $3,186

Develop Treasury's Secure Communications and Continuity Program 2 $672

Kleptocracy Asset Recovery Rewards Pilot Program - Payments for Rewards 0 $1,650

Terrorist Financing and Financial Crimes Operations/Travel 2 $1,787

Counter Cyber-Enabled Threats 0 $2,724

FY 2023 President's Budget Request 624 $212,059

Dollars in Thousands

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 27
Budget Adjustments 

Maintaining Current Levels (MCLs) ...................................................... +$6,567,000 / +0 FTE 

Pay Annualization (2.7%) +$746,000 / +0 FTE 

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

Pay Raise (4.6% in 2023) +$4,142,000 / +0 FTE 

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

Non-Pay +$1,679,000 / +0 FTE 

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

equipment. 

Other Adjustments ................................................................................ +$10,192,000 / +14 FTE 

Adjustments to Meet Current Operating Levels +$10,192,000 / +14 FTE 

Adjustment relates to funding received in the prior year that supports technology investments 

and hiring and on-boarding +14 FTEs. 

Program Increases ................................................................................. +$20,300,000 / +49 FTE 

Enhance the Intelligence Community's (IC) Economic Security and Financial Intelligence 

+$8,000,000 / +32 FTE 

The Department requests $8 million for targeted investments to improve TFI’s Office of 

Intelligence Analysis’s (OIA) economic and finance-related strategic and counterintelligence 

analysis, as well as expand OIA’s reporting program. 

Upgrade Treasury’s Secure Space and Network Infrastructure +$2,281,000 / +0 FTE

The Department requests funding to upgrade the physical access control system for the Main 

Treasury Complex and to refresh Treasury Financial Intelligence Network (TFIN) servers, 

providing essential redundancy, including through use of hybrid cloud environments. The 

current access control system is not adequately protected due to antiquated infrastructure. In 

addition, TFIN servers do not have sufficient redundancy and are at risk of extended outages 

during which users are unable to perform sensitive work. 

Emerging Sanctions Programs +$3,186,000 / +13 FTE 

The Office of Foreign Assets Control’s (OFAC) sanctions programs are seeing an increase in 

work needed to maintain existing lines of effort and expand to address new threats. OFAC 

requests 13 FTEs to manage an increase in enforcement equities associated with greater 

connectivity between U.S. persons and the sanctions targets; handling increased private sector 

engagement; increasing investigations into complex targeting actions; and increasing policy, 

regulatory affairs, and licensing actions. 

Develop Treasury’s Secure Communications and Continuity Program +$672,000 / +2 FTE

The Department requests funding for Treasury’s Secure Communications Program to support 

Treasury’s executive-level communications support program, ensure compliance to various 

secure communication directives, and maintain continuity readiness. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 28
Kleptocracy Asset Recovery Rewards Pilot Program – Payments for Rewards +$1,650,000 / +0 

FTE

The Fiscal Year 2021 National Defense Authorization Act (NDAA) directs the Treasury 

Department to create a Kleptocracy Asset Recovery Rewards Pilot Program to authorize 

payments to informants who aid in identifying stolen assets acquired through foreign corruption 

that fall under U.S. jurisdiction, with the goal of seizing, forfeiture or repatriation of those 

assets. This request provides the necessary funding for potential rewards payments to 

informants. 

Terrorist Financing and Financial Crimes Operations / Travel +$1,787,000 / +2 FTE

Funding is required for TFFC operations, to include operational support of the Kleptocracy Asset 

Recovery Rewards Pilot Program. This request also includes $717,000 for TFFC program office 

travel costs. Almost all of TFFC’s travel is international and involves TFFC representing the 

U.S. government in various forums and high-visibility conferences. In particular, travel 

associated with the Financial Action Task Force (FATF) and FATF-Style Regional Bodies is 

critical as TFFC works closely with finance ministries and other international partners to identify 

and close vulnerabilities within the international financial system that make it susceptible to 

terrorist financing and other illicit financial activity. Additionally, TFFC attends meetings 

related to U.S. government Anti-Money Laundering/Combating the Financing of Terrorism 

(AML/CFT) standards and practices to influence how our international partners address illicit 

finance and money laundering. 

Counter Cyber-Enabled Threats +$2,724,000 / +0 FTE

Recent cyber espionage and attack events, including the SolarWinds supply chain compromise 

and targeting of U.S. critical infrastructure, continue to demonstrate the ever-evolving threats 

from state and non–state malicious cyber actors. The Department requests additional resources 

to improve TFIN’s cybersecurity posture. 

Legislative Proposals 

The Office of Terrorism and Financial Intelligence has no legislative proposals. 

Performance Highlights 

Budget Activity Performance Measure 

FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Actual Actual Actual Target Target 

Terrorism and 

Financial Intelligence 

Regulatory documents published in the 

Federal Register within four months of 

publication of an Executive order or 

Congressional mandate during the fiscal year

N/A 67% 25% 75% 75% 

Terrorism and 

Financial Intelligence 

Designations and identifications released on 

time to the public without errors N/A 97% 98% 90% 90% 

Terrorism and 

Financial Intelligence 

Respond to de-confliction requests received 

from law enforcement within 7 days N/A 88% 97% 91% 91% 

Terrorism and 

Financial Intelligence 

Percent customer satisfaction with OIA 

products N/A 

Customer 

Satisfaction 

Surveys not 

conducted 

in FY 2020 

due to the 

COVID-19 

pandemic. 

70% 74% 74% 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 29
Description of Performance 

Sanctions 

Since the beginning of FY 2021, Treasury established eight new or modified sanctions programs 

with 944 designations carried out—an approximately 38% increase from the previous fiscal year 

and a 933% increase since 2000. 

Sanctions Review 

Treasury began reviewing the authorities and processes surrounding financial sanctions to 

address emerging challenges resulting in a comprehensive sanctions review released in FY 

2022/Q1 that provided key recommendations. The review found that while sanctions remain an 

essential and effective policy tool, they also face new challenges, including rising risks from 

cybercriminals, new payments systems, and the growing use of digital assets. The review also 

identified challenges in mitigating the impact of sanctions on the flow of legitimate humanitarian 

aid to those in need. Treasury will modernize and strengthen internal Treasury, U.S. 

government, and international coordination and engagement on sanctions to enhance 

effectiveness. 

Financial Transparency 

Treasury leads the U.S. delegation to the Financial Action Task Force (FATF) and supports 

efforts to advance core work on virtual assets, beneficial ownership transparency, and illicit 

finance risks. The FATF approved for publication an updated version of its Guidance on a RiskBased Approach to Virtual Assets and Virtual Asset Service Providers proposed revisions to the 

FATF standard regarding beneficial ownership transparency for legal persons to improve the 

quality of beneficial ownership information available to law enforcement and other authorities in 

a timely manner, facilitate international cooperation, and improve transparency around public 

procurement to combat corruption. Under TFI direction, FinCEN also released a notice of 

proposed rulemaking requiring certain companies to report beneficial ownership data to Treasury 

with a view to preventing bad actors from concealing illicit funds behind anonymous shell 

companies. 

Strengthening Cybersecurity 

In addition to the variety of other cyber-related actions, Treasury partnered with both the private 

sector and USG partners to ensure that the domestic and global financial system is protected 

from abuse by malicious cyber actors. In addition, TFI assisted efforts in refining collection 

efforts specific to the threats against the financial services sector and helped decrease gaps in 

identification of victims of malicious cyber activity. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 30
Committee on Foreign Investment in the United States

Program Summary by Budget Activity

Dollars in Thousands

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change

Treasury CFIUS Activities $15,000 $15,000 $15,000 $0 0.0%

Other Member CFIUS Activities $5,000 $5,000 $5,000 $0 0.0%

Treasury Departmental Offices S&E $22,661 $22,494 $25,611 $3,469 15.4% 

Subtotal, CFIUS $42,661 $42,494 $45,611 $3,469 8.2% 

Anticipated User Fees - CFIUS Fund ($20,000) ($20,000) ($20,000) $0 0.0%

Total Program Operating Level $22,661 $22,494 $25,611 $3,469 15.4% 

Direct FTE 93 110 132 22 20.0% 

Total Full-time Equivalents (FTE) 93 110 132 22 20.0% 

Summary

The Committee on Foreign Investment in the United States (CFIUS) was established in 1975 

under Executive Order 11858 to monitor the impact of foreign investment in the United States, 

and to coordinate and implement federal policy on such investment. CFIUS is composed of nine 

voting member agencies. The Committee’s unique design leverages the skills, subject matter 

expertise, and integrated analysis of Committee members and other relevant agencies. CFIUS 

voting members include: 

• Department of the Treasury

• Department of Commerce

• Department of Defense

• Department of Energy

• Department of Homeland Security

• Department of Justice

• Department of State

• Office of Science Technology and Policy

• Office of the United States Trade Representative

As both Chair and member of CFIUS, Treasury is responsible for leading CFIUS in establishing 

policies, implementing processes and functions, and managing its daily operations. Treasury 

participates in every aspect of CFIUS, including reviews and investigations, policy and 

international relations, mitigation monitoring and enforcement, non-notified transaction analysis, 

legal support, and national security threat assessments. The Office of International Affairs (IA) 

is responsible for case management and coordination and representing the Committee to parties 

that file notices or declarations. The Office of General Counsel (OGC) provides legal support to 

IA and is responsible for certain analyses conducted on each notice filed with CFIUS. 

The Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) strengthened 

CFIUS to better address national security concerns arising from some types of investments and 

transactions that were previously outside its jurisdiction. Additionally, FIRRMA modernized 

Committee processes to better enable timely and effective reviews of covered transactions. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 31
FIRRMA also established the CFIUS Fund (the Fund), to be administered by the chairperson 

(the Secretary of the Treasury), to accept appropriated funds for these expanded responsibilities 

and functions, and to collect filing fees. 

Case volume has increased significantly in recent years, from 172 notices formally reviewed in 

calendar year (CY) 2016 to 303 cases (comprised of 187 notices and 116 declarations) formally 

reviewed in CY 2020. The expanded jurisdiction authorized by FIRRMA took effect February 

13, 2020. CY 2021 data is not yet publicly available, but case totals exceeded CY 2020. The FY 

2023 budget requests resources necessary to handle the increased case workload from FY 2022

(including significantly expanded activity with respect to non-notified transactions), mitigation 

monitoring, and international engagement. 

The Administration requests $20 million for the Fund in upfront appropriations that will be offset 

by up to $20 million in offsetting collections from filing fees, of which $15 million is proposed 

for transfer to Treasury to fund capital investments and staff to support Committee activities. 

The remaining $5 million will be available for transfer to other CFIUS agencies to facilitate, for 

example, interagency connectivity with Treasury’s information technology (IT) and case 

management systems, and to address other emerging needs.

Budget Highlights

Dollars in Thousands

FTE Amount

FY 2022 Annualized CR 110 $22,494 

Transfer in from CFIUS Fund $15,000 

FY 2022 DO SE CFIUS Base 110 $37,494 

Changes to Base:

Maintaining Current Levels (MCLs): 0 $923 

Pay Annualization (2.7% average pay raise) 0 $143 

Pay Raise (4.6% average pay raise) 0 $743 

Non-Pay 0 $37 

Non-Recurring Costs: 0 ($1,674)

Non-recur to CFIUS investments 0 ($1,674)

Subtotal Changes to Base 0 ($751)

FY 2023 Current Services 110 $36,743 

Program Changes:

Reinvestments: 22 $3,868 

Staffing to support CFIUS caseload growth 22 $3,868 

Subtotal Program Changes 22 $3,868 

FY 2023 President's Budget Request 132 $40,611 

*Note: CFIUS Fund transfers to non-Treasury agencies of $5 million are not included in this table.

**Note: FTEs in the above include 1 FTE funded through reimbursable resources.

Budget Adjustments

Offsetting User Fees -$20,000,000 / -0 FTE

Treasury and IA anticipate collection of filing fees that will be credited to the Fund as offsetting 

collections. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 32
Transfer in from CFIUS Fund +$15,000,000 / +0 FTE 

The CFIUS Fund anticipates transferring $15.0 million dollars to the DO Salaries and Expenses 

account to provide for Treasury DO CFIUS activities. 

Maintaining Current Levels (MCLs) ...........................................................+$923,000 / +0 FTE

Pay Annualization (2.7%) +$143,000 / +0 FTE 

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

Pay Raise (4.6% in 2023) +$743,000 / +0 FTE 

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

Non-Pay +$37,000 / +0 FTE 

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

equipment. 

Non-Recurring Costs ....................................................................................-$1,674,000 / -0 FTE

Non-recur to CFIUS investments -$1,674,000 / -0 FTE

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

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

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

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

Increase in CFIUS staffing to continue in light of anticipated program growth.

Legislative Proposals 

CFIUS has no legislative proposals.

Performance Highlights 

 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Committee on Foreign Investment in the 

United States (CFIUS)

Timely Review of 

CFIUS Cases 100% 100% 100% 100% 100% 

Description of Performance

In FY 2021, Treasury CFIUS continued its growth to support requirements laid out in the 

Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). This includes 

continued investment in infrastructure necessary to support an increase in CFIUS’s 

responsibilities, as well as additional staff to manage the workload growth. FY 2021 was the first 

full year that the CFIUS Fund was entirely fee funded. 

Timely Review of CFIUS Cases: This measure tracks compliance with statutory deadlines for 

completing national security reviews of transactions notified to the CFIUS to ensure that the 

CFIUS process is timely and efficient. The target (100 percent) was met in CY 2021. IA’s 

target for this measure in CY 2022 and CY 2023 is 100 percent. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 33
Department of the Treasury - Budget in Brief 34
Office of Inspector General

Program Summary by Budget Activity

Dollars in Thousands

FY 2021 FY 2022 FY 2023 FY 2022 TO FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change

Audit $29,324 $30,521 $32,198 $1,677 5.49% 

Investigations $10,120 $10,520 $11,680 $1,160 11.03% 

Subtotal, OIG $39,444 $41,041 $43,878 $2,837 7% 

Offsetting Collections - Reimbursables $9,000 $12,000 $12,000 $0 10.00% 

Reimbursable – SSBCI $400 $1,000 $1,000 $0 0.00%

Resources from Other Accounts $8,000 $10,959 $10,122 ($837) -7.64%

Total Program Operating Level $17,400 $23,959 $23,122 $1,000 100% 

Direct FTE 180 190 190 0 0.00% 

Total FTE 189 190 190 0 0.00% 

FY 2021 Other Resources and Full-time Equivalents reflect actuals.

Additional appropriated resources were provided by the Consolidated Appropriations Act of 2021 and the American Rescue Plan Act of 2021

which are not included above: 

1. $6.5 million for oversight, monitoring, and recoupment of the Emergency Rental Assistance program.

2. $3 Million for oversight of the Emergency Rental Assistance program.

3. $2.6 million for oversight of the Homeowner Assistance Fund. 

4. $35 million for oversight of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (Funding received in FY 2020) 

5. $10 million for SSBCI (Small Business Jobs Act of 2010) starting in 2021 with $400k and thereafter $1M each year.

Summary

The FY 2023 request for $43,878,000 for the Office of Inspector General (OIG) will be used to 

fund critical audit, investigative, and mission-support activities to meet the requirements of the 

Inspector General Act of 1978, as amended, and other statutes including, but not limited to: the 

Cybersecurity Act of 2015; Dodd-Frank Wall Street Reform and Consumer Protection Act 

(Dodd-Frank); Federal Information Security Modernization Act of 2014 (FISMA); Federal 

Information Technology Acquisition Reform Act; Government Management Reform Act; 

Payment Integrity Information Act of 2019 (PIIA); Federal Deposit Insurance Act; Small 

Business Jobs Act of 2010; the Government Charge Card Abuse Protection Act of 2012; 

Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the 

Gulf Coast States Act of 2012 (RESTORE Act); the Coronavirus Aid, Relief, and Economic 

Security Act (CARES); the FY 2021 Consolidated Appropriations Act; and the American Rescue 

Plan Act (ARP). Specific mandates include (1) audits of the Department’s financial statements, 

(2) audits and/or evaluations of the Department’s information systems security program and

practices as required by FISMA, (3) assessments of the Department’s cyber security information

sharing, (4) audits of improper payments and recoveries under PIIA, (5) risk assessments and

audits of charge card programs, and (6) material loss reviews of failed insured depositary

institutions regulated by the Office of the Comptroller of the Currency (OCC). The OIG will

also conduct audits of the Department’s highest risk programs and operations and respond to

stakeholder requests for specific work, including: (1) operating in an uncertain environment;

(2) cyber threats; (3) Bank Secrecy Act, anti-money laundering, and and-terrorist financing

enforcement; (4) efforts to promote spending transparency and to prevent and detect improper

payments; (5) information technology acquisition and project management; and (6) certain

Treasury Pandemic Relief programs.

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 35
Within its jurisdictional boundaries, the OIG also conducts audit of the highest risk programs and 

operations of the Gulf Coast Ecosystem Restoration Council (Council) established under the 

RESTORE Act. The highest risk programs and operations identified as the Council’s 

management and performance challenges include: (1) Federal Statutory and Regulatory 

Compliance, (2) Grant and Interagency Agreement Compliance Monitoring, and (3) Loss of Key 

Leadership Over Administration of Gulf Coast Restoration Activities.

The OIG will continue its investigative work to prevent, detect, and investigate complaints of 

fraud, waste, and abuse impacting Treasury programs and operations. This includes the 

detection and prevention or deterrence of employee misconduct and fraud. 

This year, the OIG is working to align budget activities and performance measures to the new 

objectives in the Treasury FY 2022 – 2026 Strategic Plan. This work will include benchmarking 

performance and may result in changes to performance measures in the FY 2024 Budget. The OIG 

will publish a component plan that aligns bureau activities and priorities to the Department’s by 

early spring 2022.

FY 2023 Budget Highlights 

Dollars in Thousands

Office of Inspector General FTE Amount 

FY 2022 Enacted 190 $41,041

Changes to Base:

2023 Maintaining Current Levels (MCLs): 0 1,516

Pay Annualization (2022 2.7% average pay raise) 0 211

Pay Raise (2023 4.6% average pay raise) 0 

 

1,083

Non-Pay 0 222 

FY 2022 Current Services 190 $42,557

Other Adjustments:

 Adjustments to Meet Current Operating Levels 0 1,321

FY 2023 President's Budget Request 190 $43,878

FY 2023 Budget Adjustments

Maintaining Current Levels (MCLs).........................................+$1,516,000 / +0 FTE

Pay Annualization (2.7%) +$211,000 /+0 FTE 

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

Pay Raise (4.6% in 2023) +$1,083,000 / +0 FTE 

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

Non-Pay +$222,000 / +0 FTE 

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

and equipment. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 36
Other Adjustments .......................................................+$1,321,000 / +0 FTE 

Adjustments to Meet Current Operating Levels +$1,321,000 / +0 FTE 

Treasury requests adjustments to realize current services operating levels. Current Operating 

Levels include the annualization of the January 2021 1.0% average pay raise, 2.7% average pay 

raise in January 2022, FY 2022 FERS contribution increases and FY 2022 non-labor expenses 

self-funded from FY 2021 enacted levels. 

Legislative Proposals

OIG has no legislative proposals. 

Performance Highlights

FY 2019 FY 2020 FY 2021 FY 2022 FY 2023

Budget Activity Performance Measure Actual Actual Actual Target Target 

Audit Number of Completed Audit Products 79 85 80 74 82

Audit Percent of Statutory Audits Completed by the 

Required Date 100 100 100 100 100

Investigations 

Percentage of All Cases Closed During the Fiscal 

Year That Were Referred for Criminal/Civil 

Prosecution or Treasury Administrative Action 

80 91 100 80 80

Description of Performance

The Office of Audit completed 80 audit products in FY 2021 and expects to complete 74 in 

FY 2022. In FY 2021, OA met its mandated audit requirements. 

In keeping with the OIG’s strategy to maintain a highly skilled and motivated workforce, the 

OIG plans and executes a meaningful body of work designed to help ensure the integrity, 

efficiency, and effectiveness of programs and operations across OIG’s jurisdiction while looking 

for opportunities to improve them. 

 In FY 2021 the OIG exceeded the Investigative Performance Measure target, opened 88 new 

investigations, and closed 72 investigations. The OIG also referred 13 investigations that 

substantiated administrative violations against a Treasury employee to the appropriate regulated 

bureau for action. In addition, the OIG referred 65 investigations for criminal prosecution and 5 

investigations for civil prosecution. In FY 2021 the Office of Investigations charged and/or 

indicted 23 subjects. Ongoing investigations resulted in 24 subjects sentenced which resulted in 

fines, seizures, restitution, penalties, and settlements of more than $10.9 million.

The Pandemic Response Accountability Committee (PRAC) established a Fraud Task Force to 

serve as a resource for the Inspectors General (IG) community by merging investigative 

resources into those areas where the need is the greatest, currently pandemic loan fraud. Agents 

from Offices of Inspectors General (OIG) across the Government are detailed to work on Task 

Force cases. These agents have partnered with prosecutors at the Department of Justice’s Fraud 

Section and at United States Attorneys’ Offices across the country. 

 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 37
Department of the Treasury (Treasury or the Department) OIG has seven agents who are 

assigned to the PRAC Fraud Task Force on a part-time basis. The agents are assigned Paycheck 

Protection Program cases while continuing to work their existing Treasury OIG caseload. This 

initiative allows Treasury OIG to make a broader contribution to the IG community by assisting 

with investigations that might otherwise remain unstaffed.

The Office of Investigations continues to support frequent congressional inquiries, sensitive 

investigative requests from the Council of the Inspectors General on Integrity and Efficiency, 

and annual peer reviews of other Offices of Inspector General, ensuring a high level of 

professionalism within the Inspector General community.

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 38
Treasury Inspector General for Tax Administration

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change 

Audits $64,851 $64,851 $67,491 $2,640 4.07% 

Investigations $105,399 $105,399 $114,918 $9,519 9.03% 

Subtotal, TIGTA $170,250 $170,250 $182,409 $12,159 7.14% 

Offsetting Collections - Reimbursable $502 $700 $700 $0 0.00% 

Unobligated Balances Brought Forward $3,729 $1,469 $1,500 $31 2.11% 

Total Program Operating Level $4,231 $2,169 $2,200 $31 1.43% 

Direct FTE 739 760 760 0 0.00% 

Reimbursable FTE 2 2 2 0 0.00% 

Total Full-time Equivalents (FTE) 741 762 762 0 0.00% 

FY 2021 Other Resources and Full-time Equivalents (FTE) reflect actuals. 

Table does not include $8M in funding provided through the American Rescue Plan Act of 2021 (ARP) (P.L.117-2) which is available for 

expenditure through FY 2023. 

Summary 

The Treasury Inspector General for Tax Administration’s (TIGTA) Fiscal Year (FY) 2023 

Budget request of $182,409,000 represents an increase of seven percent above its FY 2022 

Annualized Continuing Resolution (CR) budget. These resources will fund critical audit, 

investigative, and inspection and evaluation services to protect the integrity of the Nation’s 

system of tax administration. 

TIGTA’s vision is to “maintain a highly skilled, proactive, and diverse Inspector General 

organization dedicated to working in a collaborative environment with key stakeholders to foster 

and promote fair tax administration.” TIGTA will provide oversight in a number of critical areas 

including: 

 Investigating unauthorized access to, and disclosure of, taxpayer information;

 Identifying opportunities to improve the administration of the Nation’s tax laws, improve tax

compliance, and achieve program efficiencies and cost savings;

 Evaluating the Internal Revenue Service’s (IRS) efforts to modernize its operations, in

addition to assessing whether user authentication for online services is secure to prevent the

unauthorized disclosure of taxpayer information;

 Overseeing IRS efforts to implement tax law changes. Monitoring IRS efforts to timely

process taxpayer correspondence and meet customer service demands. Assessing the IRS’s

efforts to address tax-related identity theft;

 Protecting the integrity of the IRS by effectively investigating individuals and groups who

victimize senior citizens, other vulnerable Americans and the international IRS

impersonation scam;

 Conducting advanced analytics and innovative approaches to help prevent and detect the flow

of dollars fraudulently obtained by criminals;

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 39
 Enhancing taxpayer confidence in electronic Federal tax systems through investigation and 

prosecution of cyber criminals engaged in attacks against, and manipulation of, IRS taxpayer 

service portals as well as the IRS network; 

 Improving the integrity of IRS operations by detecting and deterring waste, fraud, abuse, 

and misconduct, including the unauthorized disclosure of confidential taxpayer 

information by IRS employees; and 

 Conducting comprehensive audits, inspections and evaluations that provide recommendations 

for achieving monetary benefits, addressing erroneous and improper payments, and enhancing 

the service the IRS provides to taxpayers. 

TIGTA conducts audits that advise the public, Congress, the Secretary of the Treasury, and IRS 

management of high-risk issues, problems, and deficiencies related to the administration of IRS 

programs and operations. TIGTA’s administrative and criminal investigations ensure the 

integrity of IRS employees, protect the IRS and its employees, and help the IRS protect and 

secure taxpayer data. TIGTA’s Office of Inspections and Evaluations provides responsive, 

timely, and cost- effective inspections and evaluations of challenging areas in IRS programs. 

TIGTA’s oversight is essential to the efficiency and fairness of the IRS’s tax administration 

system. 

TIGTA’s primary functions of audit, investigations, and inspection and evaluations align with 

the following Department of the Treasury FY 2022 – 2026 Strategic Plan goals: 

 Goal 1: Promote Equitable Economic Growth and Recovery; 

 Goal 2: Enhance National Security; 

 Goal 4: Combat Climate Change; and 

 Goal 5: Modernize Treasury Operations. 

Budget Highlights 

Treasury Inspector General for Tax Administration FTE Amount

FY 2022 Annualized CR 760 $170,250

Changes to Base:

Maintaining Current Levels (MCLs): 0 $6,619

Pay Annualization (2.7% average pay raise) $975

Pay Raise (4.6% average pay raise) $5,018

Non-Pay $626

Other Adjustments: 0 $5,540

Adjustments to Meet Current Operating Levels 0 $5,540

Subtotal Changes to Base 0 $12,159

FY 2023 Current Services 760 $182,409

FY 2023 President's Budget Request 760 $182,409

Dollars in Thousands

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 40
Budget Adjustments 

Maintaining Current Levels... .................................................................+$6,619,000 / +0 FTE 

Pay Annualization (2.7%) +$975,000 / +0 FTE 

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

Pay Raise (4.6% in FY 2023) +$5,018,000 / +0 FTE 

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

Non-Pay +$626,000 / +0 FTE 

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

equipment. 

Other Adjustments.................................................................+$5,540,000 / +0 FTE 

Adjustments to Meet Current Operating Levels +$5,540,000 / +0 FTE 

Treasury requests adjustments to realize current services operating levels. Current Operating 

Levels include the annualization of the January 2021 1.0% average pay raise, 2.7% average pay 

raise in January 2022, FY 2022 FERS contribution increases and FY 2022 non-labor expenses 

self-funded from FY 2021 enacted levels. Funds are requested for costs realized in FY 2022 

under the enacted appropriation, but not included under an annualized CR. 

Legislative Proposals 

TIGTA has no legislative proposals. 

Performance Highlights FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget 

Activity Performance Measure Actual Actual Actual Target Target 

Audit Percentage of Audit Product Delivered When 

Promised to Stakeholders 84 79 93 70 70 

Audit

Percentage of New Audit Reports with 

Recommendations to Improve Tax 

Administration 

N/A N/A B 70 70 

Investigations 

Percentage of Closed Investigations Resulting in 

a Criminal, Administrative, or Law Enforcement 

Action 

91 92 90 85 79 

Key: N/A – Not Applicable; B – Baseline 

Description of Performance 

 For FY 2021, the Office of Audit (OA) issued 81 audit reports and other products 

identifying approximately $16.0 billion in potential financial benefits. 

 For FY 2021, the actual Percentage of Audit Products Delivered When Promised to 

Stakeholders was 93 percent. TIGTA exceeded the full-year target by 23 percentage 

points. 

 For FY 2023, OA’s performance targets are 70 percent of Audit Products Delivered When 

Promised to Stakeholders and 70 percent of New Audit Reports with Recommendations to 

Improve Tax Administration. 

 During FY 2021, the annual inventory of investigative work increased by 14.8 percent. 

TIGTA initiated 26 investigations to detect systemic weaknesses or potential IRS program 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 41
vulnerabilities. TIGTA processed 7,425 complaints, opened 2,700 investigations, and closed 

2,717 investigations in FY 2021. During this period, TIGTA referred 766 cases of employee 

misconduct to the IRS for action and 285 cases, of various types of investigations, were 

accepted for criminal prosecution. 

 For FY 2021, the Percentage of Closed Investigations Resulting in a Criminal, 

Administrative, or Law Enforcement Action was 90 percent, which exceeded the full-year 

target of 85 percent by five percentage points. 

 Starting in FY 2022, TIGTA’s OI will transition to a performance model that places greater 

emphasis on complex cases. These cases are often lengthier and require more time-intensive 

engagement from OI staff. This change in prioritization may result in a reduced actual for 

the Percentage of Closed Investigations Resulting in a Criminal, Administrative, or Law 

Enforcement Action performance measure. Therefore, the FY 2023 target for this measure is 

reduced to 79 percent. The target may be revised at a later date as the results of the revised 

performance model are evaluated. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 42
Special Inspector General for TARP 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating 

Plan 

Annualized 

CR Request $ Change % Change 

Investigations $16,550 $16,150 $7,850 ($8,300) -51.4%

Audit $2,450 $2,850 $1,150 ($1,700) -59.6%

Subtotal, SIGTARP $19,000 $19,000 $9,000 ($10,000) -52.6%

Resources from No Year Account $3,000 $3,000 $7,500 $4,500 150.00% 

Total Program Operating Level $3,000 $3,000 $7,500 $4,500 100.00% 

Direct FTE NA 

Investigations 65 59 40 (19) -32.2%

Audit 9 9 5 (4) -44.4%

Total Full-time Equivalents (FTE) 74 68 45 (23) -33.8%

FY 2021 Other Resources and Full-time Equivalents (FTE) reflect actuals.

Summary 

The Fiscal Year (FY) 2023 Budget requests $9 million, a reduction of 47 percent from the 

FY 2022 President’s budget and a 53 percent reduction from SIGTARP’s FY 2021 enacted level. 

The proposed budget is intended to fund Congressionally mandated independent oversight of 

EESA programs through SIGTARP investigations (85 percent of request) and audits (15 

percent). 

SIGTARP prioritizes oversight of the ongoing EESA’s Home Affordable Modification Program 

(HAMP) which provides foreclosure relief to more than 600,000 homeowners and will remain 

open beyond FY 2023. Treasury remains obligated/committed to pay $1.0 billion in HAMP to 

keep these homeowners in their homes. In FY 2020 - 2021, Treasury distributed $919.5 million 

under HAMP to bank and non-bank mortgage servicers for the benefit of servicers, investors, 

and borrowers including large banks (i.e., $91.7 million to Wells Fargo, $51.4 million to JP 

Morgan Chase, $49.4 million to Bank of America, and $17.7 million to Citigroup), and large 

non-banks (i.e., $233.6 million to Ocwen Financial, $117.7 million to Nationstar). 

SIGTARP’s work has led to recoveries for the government and other victims of $11.3 billion – 

a 29 times total return on investment (ROI) from SIGTARP’s cumulative annual budgets. In FY 

2021, $222 million was recovered as a result of SIGTARP investigations, exceeding SIGTARP’s 

FY 2021 $19 million enacted budget by nearly 12 times. 

SIGTARP Investigations

SIGTARP’s law enforcement work has resulted in: (1) criminal prosecutions of 465 defendants 

(315 sentenced to prison, including 74 bankers); and (2) civil actions against 25 large Wall Street 

institutions and other entities. 

SIGTARP’s top law enforcement priority is to investigate and bring justice to unlawful conduct 

by financial institutions in HAMP. Our nation cannot have a resilient housing market run by 

financial institutions that violate the law. SIGTARP caught and investigated 121 foreclosure 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 43
rescue scammers who were convicted after DOJ prosecutions. These scammers victimized 

nearly 31,000 homeowners seeking foreclosure relief through HAMP. For example, in 2021, 

three men were sentenced to prison, each for multimillion dollar scams against homeowners 

related to HAMP. A California man was sentenced to more than four years in prison in a 

nationwide $2.3 million fraud scam, under the names HOPE Services and HAMP Services, that 

victimized more than 400 homeowners related to HAMP. He was the fifth defendant sentenced 

to prison for this scam. The owner of Homesafe America was convicted for a $2.3 million scam 

against 500 homeowners related to HAMP. Additionally, a New York man was sentenced to six 

months in prison in a $9.4 million HAMP-related scam of New York homeowners. SIGTARP 

has additional open, confidential cases related to HAMP, including cases being worked in 

partnership with the Department of Justice. 

SIGTARP also has open investigations in the Hardest Hit Fund, which we are actively working 

with prosecutors. This includes investigations of fraud and environmental/safety crimes such as 

illegal dumping, asbestos exposure, or contaminated dirt used in demolitions of blighted 

properties. SIGTARP has a long-standing record of finding fraud, environmental/safety crimes, 

and corruption in this program. For example, in FY 2021, an Illinois-based demolition 

contractor was sentenced and ordered to pay restitution for defrauding HHF in connection with 

demolitions in Hammond, Indiana. SIGTARP’s investigation revealed that the contractor had 

improperly disposed of demolition debris, and had submitted false disposal, dumping, and fill 

dirt documentation to the City of Hammond. In addition, several individuals were prosecuted for 

defrauding HHF programs for unemployed homeowners. 

SIGTARP also continues to support the Department of Justice in long-standing prosecutions 

related to TARP banks. For example, in 2021, the former CEO of a TARP-recipient credit union 

was criminally charged and convicted of making a false statement to Treasury in connection with 

TARP. The CEO did not disclose to Treasury that the credit union had filed false call reports 

that reported millions of dollars of fictitious income to its federal regulator. SIGTARP’s 

investigations have resulted in criminal prosecutions of 108 bankers and 100 of their coconspirators. Courts sentenced 74 of the bankers to prison, along with 69 of their coconspirators. 

SIGTARP Audit

SIGTARP’s audits ensure that EESA programs are operating effectively and efficiently, that 

federal dollars are used as Congress intended, and that the government does not pay more for 

EESA than is necessary. In FY 2023, SIGTARP will prioritize identifying risk or vulnerabilities 

in HAMP that could hurt homeowners and Treasury’s goal for HAMP to provide affordable and 

sustainable housing. In August 2021, SIGTARP found that Treasury reduced its oversight of 

financial institutions that are HAMP servicers, and that servicers have violated HAMP rules by 

wrongfully cancelling homeowners out of HAMP, labelling homeowners as delinquent, and 

setting mortgage payments too high, along with other violations harming homeowners. In FY 

2021, SIGTARP also questioned $13 million in the HHF blight program paid to contractors in 

Michigan despite missing required supporting cost documentation for clean backfill dirt to fill 

the demolition hole. SIGTARP recommended that Treasury recoup any excessive payments. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 44
Budget Highlights 

Dollars in Thousands 

Special Inspector General for TARP FTE Amount 

FY 2022 Annualized CR 68 $19,000 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 

 

537 

Pay Annualization (2022 2.7% average pay raise) 62 

Pay Raise (2023 4.6% average pay raise) 

 

319 

Non-Pay 156 

Subtotal Changes to Base 0 

 

537 

FY 2023 Current Services 68 $19,537 

Program Changes: 

Program Decreases: 0 (10,537) 

Reduction in FTE (23) (2,677) 

Efficiency Savings 0 (360) 

Realignment from Annual to No-Year Funding 0 (7,500) 

Subtotal Program Changes 0 ($10,537) 

FY 2023 President's Budget Request 45 $9,000 

Budget Adjustments 

Budget Increases and Decreases Description 

Maintaining Current Levels (MCLs) .......................................................... +$537,000 / +0 FTE 

Pay Annualization (2.7%) +$62,000 / +0 FTE 

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

Pay Raise (4.6%) +$319,000 / +0 FTE 

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

Non-Pay +$156,000 / +0 FTE 

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

and equipment. 

Program Decreases .................................................................................. -$10,537,000 / -23 FTE 

Staff Reduction -$2,677,000 / -23FTE 

Reduction in SIGTARP staff levels to 45 FTE. The reduction of FTE is part of the orderly wind 

down of SIGTARP. 

Efficiency Savings -$360,000/ -0 FTE 

Savings of $360,000 is the effect of reduction of FTE on Non-Personnel costs (training, travel, 

support services, etc.) 

Realignment from Annual to No-Year Funding -$7,500,000/ -0 FTE 

SIGTARP will fund a portion of its operations from its no-year account. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 45
Legislative Proposal 

Hiring Authority Similar to Other Special IG’s 

While SIGTARP is reducing its staffing, sometimes it suffers attrition in a critical role. 

SIGTARP is requesting additional special hiring authority to enable SIGTARP to backfill critical 

vacancies with qualified personnel. This authority is similar to the special authority available to 

the Office of the Special Inspector General for Afghanistan Reconstruction (SIGAR), pursuant to 

5 U.S.C. 3161. 

Performance Highlights FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Investigations 

% of Cases Accepted for 

Consideration by Civil or Criminal 

Authorities Resulting in a Positive 

Final Outcome 

77 77 77 70 50 

Investigations 

% of Cases Presented to Civil or 

Criminal Authorities within Eight 

Months of Being Opened 

75 75 71 65 50 

Investigations 

% of Cases That are Joint 

Agency/Task Force Investigations 76 86 90 70 60 

Audit

Number of Completed Audit 

Products Identifying Waste, Abuse, 

Mismanagement, Inefficiencies, or 

Referrals to Investigations Division 

(units) 

4 4 3 3 2 

Description of Performance 

SIGTARP met all metric targets in FY 2021. The “Percentage of Cases Accepted for 

Consideration by Civil or Criminal Authorities Resulting in a Positive Final Outcome” in 

FY 2021 was 77 percent; the “Percentage of Cases Presented to Civil or Criminal Authorities 

within Eight Months of the Case Being Opened” was 71 percent; the “Percentage of Cases that 

are Joint Agency/Task Force Investigations” with other law enforcement agencies was 90 

percent. SIGTARP met its FY 2021 audit performance target with three products. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 46
Special Inspector General for Pandemic Recovery (SIGPR)

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating 

Plan 

Annualized 

CR Request Nominal Change % Change 

Special Inspector General for 

Pandemic Recovery $0 $0 $25,000 $25,000 NA 

Subtotal, SIGPR $0 $0 $25,000 $25,000 NA 

Direct FTE 35 38 66 +28 +73.7%

Total Full-time Equivalents 

(FTE) 35 38 66 +28 +73.7%

In FY 2020, an initial appropriation of $25M in no-year funds were provided to establish SIGPR under the CARES Act to expeditiously 

provide resources required for administrative, IT, general counsel, and external affairs to support the mission of SIGPR. 

FY 2021 and FY 2022 Other Resources and Full-time Equivalents (FTE) reflect actuals (55 positions in September 2021 and 51 positions as 

of March 2022) in spending of carryover funds from the initial FY 2020 $25M appropriation. 

The FY 2022 Budget included appropriations language to provide SIGPR an additional $25 million in unobligated mandatory funding from 

the CARES Act. 

Summary 

The Special Inspector General for Pandemic Recovery (SIGPR) Fiscal Year (FY) 2023 annual 

budget request of $25,000,000 will enable SIGPR to continue critical and impactful audit and 

investigative services to protect the integrity of covered funds under the CARES Act with the 

fiduciary goal of identifying potential waste, fraud and abuse of government funded pandemic 

relief. SIGPR’s FY 2022 Full-time Equivalent (FTE) projection reflects annualized levels based 

on current resources. 

SIGPR, an independent office within the Department of the Treasury (Treasury), was established 

by section 4018 of the CARES Act in March 2020. Mr. Brian Miller was confirmed by the U.S. 

Senate in June 2020 as the Special Inspector General for Pandemic Recovery. SIGPR continues 

lead the way by providing oversight of Treasury activities under the CARES Act by conducting 

independent audits and investigations necessary to prevent and detect waste, fraud, and abuse in 

programs and operations. SIGPR’s reduced CARES programs jurisdiction currently includes two 

significant programs, the Direct Loan Program (loans to air carriers and national security 

businesses consisting of 35 loans, 35 borrowers for $2.7B), and the Main Street Lending 

Program (loans to small and medium-sized for-profit businesses and nonprofit organizations 

consisting of 319 lenders, 1,830 loans for $17.5B). SIGPR conducts audits of these Treasury 

programs, investigates fraud by recipients of CARES Act funds, and makes recommendations 

designed to improve the administration of pandemic recovery programs. SIGPR also conducts 

criminal investigations into allegations of waste, fraud, and abuse while helping to ensure that 

SIGPR protects and secures taxpayer data. 

In accordance with the Government Performance and Results Act Modernization Act (GPRAMA)

of 2010, the Department of the Treasury is currently developing the FY 2022 – 2026 

Departmental Strategic Plan. SIGPR published a Strategic Plan for FY 2021 - 2023 and will 

publish a new component plan that aligns bureau activities and priorities to the Department’s in 

2022. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 47
By the end of FY 2021, during the worst pandemic in over a century resulting in socio-economic 

challenges, SIGPR succeeded in expeditiously establishing a workable near-term initial 

minimally operational baseline by bringing onboard 56 positions. SIGPR developed and 

executed a recruitment and hiring strategy, a procurement and acquisition plan, and an 

information technology capital plan; executed an occupancy agreement with the General 

Services Administration (GSA); developed a myriad of policies, procedures, and manuals to 

govern SIGPR’s work in the key areas of audits, investigations, and critical mission support 

services. 

In FY 2022, SIGPR has continued to diligently follow the facts through the Office of Audits 

(OA) and Investigations (OI), working collaboratively with other Offices of Inspectors General, 

the Pandemic Response Accountability Committee (PRAC) Fraud Task Force, the Department of 

Justice (DOJ) COVID-19 Fraud Enforcement Task Force, Financial Crimes Enforcement 

Network, and other Federal Offices of Inspector General and law enforcement agencies to 

uncover large-scale and far-reaching fraud, waste, and abuse of CARES program funds. 

Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2022 Operating Level 38 $13,000 

Changes to Base: 

2023 Maintaining Current Levels (MCLs): 0 $445 

Pay Annualization (2.7% average pay raise) $58 

Pay Raise (4.6% average pay raise) $299 

Non-Pay $88 

Other Adjustments: 

Adjustments to Meet Current Operating Levels 14 $7,000 

Subtotal Changes to Base 14 $7,445 

FY 2023 Current Services 52 $20,445 

Program Changes: 

Program Increases: 

Audits and Investigations 14 $4,555 

FY 2023 President's Budget Request 66 $25,000 

Note: The FY 2022 Operating Level reflects annualized FTE level based on available carryover 

resources. SIGPR did not receive funding through the 2022 Continuing Resolution (CR). 

Budget Adjustments

Adjustments to Request 

Maintaining Current Levels (MCLs) .......................................................... +$445,000 / +0 FTE 

Pay Annualization (2.7%) +$58,000 / +0 FTE 

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

Pay Raise (4.6%) +$299,000 / +0 FTE 

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

Non-Pay +$88,000 / +0 FTE 

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

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 48
Other Adjustments.................................................................+7,000,000 / +14 FTE 

Adjustments to Meet Current Operating Levels +$7,000,000 / +14 FTE 

As of March 2022, SIGPR employed 52 FTE that are critical to SIGPR’s audits and 

investigations work. Funding is requested to maintain current operating levels and to avoid cuts 

to mission-critical FTEs.

Program Increases ................................................................+$4,555,000 / +14 FTE 

Audits and Investigations +$4,555,000 / +14 FTE 

Funding is requested for increased audits and investigations staffing to administer the expected 

significant increase in active case load and the expected DOJ prosecutorial team support 

requirements in FY 2023. Additionally, funds are requested for the acquisition of cutting-edge 

technology for predictive data analytics for adequate analysis of complex data to enhance 

detection of CARES Act funds waste, fraud, and abuse, while bringing lawbreakers to justice, 

seizing ill-gotten gains, and collecting court-ordered restitution. 

Legislative Proposals 

SIGPR has no legislative proposals. 

Performance Highlights FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Audit and Investigations 

Percentage of Audit Products 

Delivered to Stakeholders by the 

Due Date 

NA B 100 67 67 

Audit and Investigations 

Percentage of Audit Products 

Subjected to Implementation 

Reviews 

NA NA B 50 50 

Key: NA- Not Available 

Description of Performance 

For FY 2022, the target for Percentage of Audit Products Delivered When Promised to 

Stakeholders will remain at 66.6 percent. The target for conducting Implementation Reviews will 

also remain at 50 percent. SIGPR believes that these targets are best attained through effective 

monitoring of ongoing audit work and essential communication with the Treasury regarding 

findings and the most appropriate recommendations for corrective action. Consequently, 

SIGPR’s Office of Audits will continue to accentuate the importance of these processes with 

Treasury leadership. 

 Percentage of Audit Products Delivered to Stakeholders by the Due Date – SIGPR’s products 

will have a more significant impact if they are delivered when needed to support 

congressional and Treasury decision making. 

 Percentage of Audit Products Subjected to Implementation Reviews - The SIGPR Office of 

Audits has established a process to review and verify the implementation actions taken by 

Treasury on SIGPR recommendations. This measure assesses SIGPR’s effect on improving 

Treasury’s accountability, operations, and services. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 49
As part of the audit process, Treasury provides a written response and action plan to address 

SIGPR audit recommendations. Audit resolution is achieved when SIGPR accepts Treasury’s 

time phased plan of action to implement each recommendation. 

In fiscal year 2021, SIGPR conducted an implementation review on the audit product issued in 

the prior fiscal year and found that Treasury management had fully implemented the report’s 

recommendation. 

Recent Office of Investigations accomplishments and initiatives build upon SIGPR’s continued 

efforts to identify and pursue pandemic-relief fraud within its jurisdiction include: 

 Notable case trendline growth by steadily increasing quantity of investigative case load to a 

total of 28 open cases, in addition to 9 closed cases, and 23 preliminary inquiries converted to 

full investigations. This growth represented more than a 400 percent increase over a ninemonth period in FY 2021. 

 In less than one year after staffing OI with criminal investigators (special agents): 

o SIGPR obtained its first indictment, involving false statements to fraudulently obtain 

more than $1.6M in federal funds for business loans intended to relieve financial 

distress caused by the COVID-19 pandemic; and 

o In early January 2022, a SIGPR-initiated investigation resulted in a guilty plea related 

to a loan obtained through the Main Street Lending Program, a lending facility 

established by the Federal Reserve Board and supported with Treasury’s investment 

in CARES Act funds. As part of the plea, it was agreed to include court-ordered 

restitution in the amount of $252,143. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 50
Community Development Financial Institutions Fund 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change 

Community Development Financial Institutions 

Fund Program $165,000 $165,000 $215,383 $50,383 30.54% 

Economic Mobility Corps $2,000 $2,000 $2,000 $0 0.00% 

Bank Enterprise Award Program $26,000 $26,000 $26,000 $0 0.00% 

Native American CDFI Assistance Program $16,500 $16,500 $21,500 $5,000 30.30% 

Administrative $29,000 $29,000 $35,037 $6,037 20.82% 

Healthy Food Financing Initiative $23,000 $23,000 $23,000 $0 0.00% 

Small Dollar Loan Program $8,500 $8,500 $8,500 $0 0.00% 

Subtotal, Organization Title $270,000 $270,000 $331,420 $61,420 22.7% 

Offsetting Collections - Reimbursable $1,186 $1,250 $1,350 $100 8.00% 

Recovery from Prior Years $405 $500 $500 $0 0.00% 

Unobligated Balances Brought Forward $13,569 $218,045 $28,000 ($190,045) -87.16% 

Total Program Operating Level $15,160 $219,795 $29,850 ($189,945) 100.00% 

Direct FTE 82 82 89 7 8.54% 

Total Full-time Equivalents (FTE) 67 82 89 7 8.54% 

Summary 

The FY 2023 Budget requests an appropriation of $331,420,000 for the Community 

Development Financial Institutions Fund (CDFI Fund) to administer the CDFI Fund’s programs 

and oversee the existing portfolio of awards. The CDFI Fund supports Treasury’s strategic goal 

of Boosting U.S. Economic Growth and Transforming Government-wide Financial Stewardship. 

The CDFI Fund expands the availability of credit, investment capital, and financial services in 

distressed urban and rural communities and for underserved populations. The CDFI Fund carries 

out the Community Development Banking and Financial Institutions Act of 1994, as well as 

certain programmatic provisions of the Community Renewal Tax Relief Act of 2000, the 

Housing and Economic Recovery Act of 2008 (HERA), the Small Business Jobs Act of 2010, 

and the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (P. L. 116-

260) that provided $3 billion for emergency support for Community Development Financial

Institutions (CDFIs) and communities responding to the COVID-19 pandemic. In the spring of

FY 2021, $1.25 billion of these funds were awarded through its newly established CDFI Rapid

Response Program (CDFI RRP), which was designed to quickly deploy capital to CDFIs through

a streamlined application and review process. In FY 2023, the CDFI Fund will award the

remaining $1.75 billion under the Minority Lending Program to CDFIs to expand their lending,

grant making and investments activity in low- or moderate-income minority communities and to

minorities that have significant unmet capital or financial service needs.

The CDFI Fund supports the creation and expansion of diverse CDFIs, which provide loans, 

investments, business counseling, basic banking services, and financial literacy training to 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 51
underserved communities. Working primarily through CDFIs, the CDFI Fund facilitates business 

development, commercial real estate, housing development and home ownership. The CDFI 

Fund’s activities leverage billions of private sector investment dollars from banks, foundations, 

and other funding sources on a cumulative basis. 

The FY 2023 Budget proposes funding for the CDFI Program and the Native American CDFI 

Assistance (NACA) Program, the Bank Enterprise Award Program, the Small Dollar Loan 

Program, the Economic Mobility Corps, and the Healthy Food Financing Initiative (HFFI). 

Treasury’s request also includes funding for the administration, operational support, and 

management associated with these programs, the New Markets Tax Credit (NMTC) Program, 

and the CDFI Bond Guarantee (BG) Program. 

Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2022 Annualized CR 82 $270,000 

Program Changes: 

Program Increases 7 $61,420 

CDFI Program 0 $50,383 

Native American CDFI Assistance (NACA) Program 0 $5,000 

Administration 7 $6,037 

FY 2023 President's Budget Request 89 331,420 

Budget Adjustments 

Program Increases

CDFI Program +$50,383,000 / +0 FTE 

This increase will result in larger Financial Assistance (FA) awards and will support Small 

and/or Emerging Community Development Financial Institutions Assistance applicants, 

providing more funding for capacity building grants through the Technical Assistance (TA) 

awards component. 

NACA Program +$5,000,000 / +0 FTE 

This increase will result in larger FA awards, as well as be used to increase participation by 

Native communities by improving technical assistance and capacity building for Native CDFIs. 

Administration +$6,037,000 / +7 FTE 

This increase will allow the CDFI Fund to focus on hiring, data collection and infrastructure 

needs that have been deferred in past years due to budget constraints. 

Legislative Proposals 

The FY 2023 Budget proposes to include $5 billion in long-term mandatory funding to support 

lending by eligible CDFIs to finance new construction and substantial rehabilitation that creates 

net new units of affordable rental and for sale housing known as the CDFI Affordable Housing 

Supply Fund. 

The purpose of the program is to increase and preserve the supply of affordable housing in single 

family and small properties (1-4 units) and small multifamily properties not to exceed 100 units. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 52
The Community Development Financial Institutions Fund will provide $5 billion in grants to 

Community Development Financial Institutions (CDFIs) to support financing for the 

construction, acquisition, rehabilitation and preservation of both rental and homeownership

housing, including accessory dwelling units.

This program will encourage the participation of small-scale developers and contractors. 

The program will support activities that: 

 ensure the sustainability, climate resiliency, and energy efficiency of affordable housing 

through rehabilitation; 

 focus on increasing the supply of affordable housing in underserved markets, including 

single family, small properties (1-4 units) and small multifamily properties with fewer than 

100 units; 

 create affordable homeownership opportunities through financing the construction and 

rehabilitation of single-family properties for individuals and families with incomes up to 

120% of AMI and up to 150% of the Area Median Income (AMI) in high cost areas 

(including acquisition and rehabilitation); 

 preserve and rehabilitate rental opportunities in Naturally Occurring Affordable Housing 

(NOAH);

 finance/ support the development of Accessory Dwelling Units (ADUs);

 preserve affordable housing that is at risk of conversion to market rate; and

 expand the supply of affordable housing through innovative approaches consistent with the 

goals of the program including the conversion of commercial properties to residential and 

utilization of modular housing.

Units financed under this program will have 10 years affordability compliance requirements. 

Performance Highlights 

 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

 

Community Development 

Financial Institutions 

Program 

CDFI - Percentage of Loans & 

Investments Originated in Eligible 

Distressed or Underserved 

Communities by Dollar Amount of 

Loans (Annual %) 

75.6 75.0 71.4 60.0 60.0 

Administration All Award Cycle Time (Months) 6.4 5.5 5.6 6.5 6.5 

Administration 

ALL- Number of Affordable 

Housing Units Developed or 

Produced 

61,839 44,361 58,125 I I 

New Markets Tax Credit 

Program 

NMTC - Percentage of Loans and 

Investments That Went Into 

Severely Distressed Communities 

80.3 77.2 77.0 75.0 75.0 

Key: I – Indicator 

Description of Performance 

For the FY 2021 CDFI Program round, the CDFI Fund awarded $140.8 million in Base FA and 

TA awards to 422 organizations. The CDFI Fund also awarded $18.6 million in PPC-FA to 125 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 53
CDFIs specifically to serve Persistent Poverty Counties nationwide. In addition, the CDFI Fund 

awarded $23 million in HFFI-Financial Assistance to 10 CDFIs, as well as $6 million in 

Disability Funds-Financial Assistance awards to 14 CDFIs to help finance projects and services 

to assist individuals with disabilities. 

In the FY 2021 round of the NACA Program, the CDFI Fund awarded $14.3 million in Base-FA 

and TA awards to 34 organizations in 16 states. In addition, the CDFI Fund awarded $1.65 

million in NACA Program PPC-FA awards to eight Native CDFIs. 

In the FY 2021, the CDFI Fund awarded $5 billion in CY 2020 NMTC Program allocation 

authority to 100 organizations out of a pool of 208 applicants that requested $15.1 billion in 

NMTC allocations. On December 27, 2020, legislation was enacted extending allocation 

authority of the NMTC Program for five years through calendar year (CY) 2025 at $5 billion 

annually. The FY 2023 revenue proposal volume (also referred to as the “greenbook”) seeks a 

permanent reauthorization of the New Markets Tax Credit. Please see 

https://home.treasury.gov/policy-issues/tax-policy/revenue-proposals for more information. 

Highlights of Select Performance Measures 

In the FY 2021, the CDFI Program surpassed the 60.0% threshold for the percentage of both the 

dollar amount (71.4%) and the number of CDFI loans (75.7%) made to eligible distressed 

communities and underserved populations. 

In FY 2021, the NMTC Program recipients reported that over 77.0% of NMTC investments 

made were in severely distressed areas. These are communities with low median incomes and 

high rates of poverty and unemployment. 

The All Award Cycle Time metric is an efficiency measure of the average time from the date 

when applications are received to the date of award announcement (calculated in months as an 

average across all programs). The Award Cycle Time in FY 2021 was 5.6 months, surpassing the 

target of 6.5 months. FY 2021 reflects the inaugural round of the SDL Program as well as 

estimates for BEA and CMF programs, which are still in the midst of their FY2021 round 

application reviews. For FY 2023 the target will remain at 6.5 months because the CDFI Fund 

will be standing up additional programs funded by the Consolidated Omnibus Act, 2021 such as 

the Minority Lending Program (MLP). 

The Number of Affordable Housing Units Developed or Produced metric measures the number 

of affordable housing units developed or produced as a result of CDFI Fund awards as reported 

by CDFI Program, NMTC Program, and CMF awardees. The FY 2021 actual result was 58,125 

affordable housing units developed or produced as a result of CDFI Fund program awards. This 

performance measure has been converted to an indicator beginning with FY 2021 because of the 

variability in projecting annually the number of affordable housing units funded for three 

programs made it difficult to project a reliable target. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 54
Financial Crimes Enforcement Network 

Program Summary by Budget Activity

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change 

BSA Administration and Analysis $126,963 $126,963 $210,330 $83,367 65.66% 

Subtotal, Organization Title $126,963 $126,963 $210,330 $83,367 66% 

Reimbursable $1,941 $3,500 $3,500 $0 0.00% 

Recoveries from Prior Years $2,337 $0 $0 $0 NA 

Unobligated Balances Brought Forward $29,444 $19,704 $2,817 ($16,887) -85.70% 

Transfers In/Out (TEOAF) $6,728 $22,500 $6,250 ($16,250) -72.22% 

Total Program Operating Level $40,450 $45,704 $12,567 ($33,137) 100.00% 

Direct FTE 269 285 420 135 47.37% 

Reimbursable FTE 2 3 3 0 0.00% 

Total Full-time Equivalents (FTE) 271 288 423 135 46.88% 

Summary 

The mission of the Federal Crimes Enforcement Network (FinCEN) is to safeguard the financial 

system from illicit use, combat money laundering and its related crimes including terrorism, and 

promote national security through the strategic use of financial authorities and the collection, 

analysis, and dissemination of financial intelligence. FinCEN is the primary Federal regulator 

and the administrator for the Bank Secrecy Act (BSA), which is part of the comprehensive legal 

architecture in the fight against money laundering and its related crimes. FinCEN plays two key 

roles in the U.S. financial regulatory, anti-money laundering and countering the financing of 

terrorism framework:

 First, FinCEN is the primary regulator and the administrator of the BSA, which is part of the

comprehensive legal architecture in the fight against money laundering and its related crimes.

FinCEN, through its administration of the BSA, is a global leader in both regulating money

transmission, including that involving convertible virtual currency and has taken action

against its illicit use.

 Second, FinCEN is the Financial Intelligence Unit, or FIU, of the United States.

The January 1, 2021 enactment of the Anti-Money Laundering Act of 2020, or AMLA, included 

the Corporate Transparency Act (CTA), which establishes uniform beneficial ownership 

reporting requirements for corporations, LLCs, and other similar legal entities. Essentially, the 

CTA requires FinCEN to create the United States’ first-ever corporate registry. The AMLA also 

requires several significant rulemakings, numerous Congressional reports and assessments, and 

specific programs that require extensive resources. 

The FY 2023 President’s Budget requests additional resources totaling $83,367,000 above 2021 

enacted, including for the implementation of the FY 2021 Anti-Money Laundering 

Act/Corporate Transparency Act (AMLA/CTA) of the William M. (Mac) Thornberry National 

Defense Authorization Act (NDAA) and to increase staffing in the Office of Chief Counsel. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 55
Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2022 Annualized CR 285 $126,963 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $5,401 

Pay Annualization (2.7% average pay raise) 0 $462 

Pay Raise (4.6% average pay raise) 0 $2,377 

Non-Pay 0 $2,562 

Other Adjustments: 10 $28,887 

Adjustment to Meet Operating Levels 10 $28,887 

Subtotal Changes to Base 10 $34,288 

FY 2023 Current Services 295 $161,251 

Program Changes: 

Program Increases: 125 $49,079 

AMLA/CTA Implementation 115 $46,359 

Increase Office of Chief Counsel Staff 10 $2,720 

FY 2023 President's Budget Request 420 $210,330 

Budget Adjustments 

Adjustments to Request 

Maintaining Current Levels (MCLs).........................................................+$5,401,000 / +0 FTE 

Pay Annualization (2.7%) +462,000 / +0 FTE 

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

Pay Raise (4.6% in FY 2023) +$2,377,000 / +0 FTE 

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

Non-Pay +$2,562,000 / +0 FTE 

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

equipment. 

Other Adjustments..............................................................+$28,887,000 / +10 FTE 

Adjustment to Meet Operating Levels +$28,887,000 / +10 FTE 

Funds are requested to meet operating levels in FY 2023, which includes IT infrastructure 

expansion and enhancements to support beneficial ownership secure system operations and 

maintenance. 

Program Increases ................................................................................+$49,079,000 / +125 FTE 

AMLA/CTA Implementation +$46,359,000 / +115 FTE 

The enactment of the FY 2021 NDAA included significant reforms to the U.S. anti-money 

laundering and countering the financing of terrorism (AML/CFT) regime through the AMLA and 

the CTA. 

The AMLA/CTA seeks to strengthen, modernize, and streamline the existing AML/CFT regime 

by promoting innovation, regulatory reform, and industry engagement through forums, such as 

the Bank Secrecy Act Advisory Group (BSAAG) and FinCEN Exchange. The AMLA calls for 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 56
FinCEN to work closely with our regulatory, national security, and law enforcement partners to 

identify risks and priorities and provide valuable feedback to our industry partners. 

Timely and effective AMLA and CTA implementation will be challenging and continues to be 

FinCEN’s top priority, and we are working diligently with our industry partners and law 

enforcement and regulatory stakeholders to implement these numerous provisions to further the 

national security and innovative strength of the United States and protect the American people. 

Increase Office of Chief Counsel Staff +$2,720,000 / +10 FTE 

The Office of Chief Counsel staff increase commensurate with FinCEN’s workload. 

Legislative Proposals 

FinCEN has no legislative proposals. 

Performance Highlights FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

BSA Administration and Analysis 

Percentage of Domestic Law 

Enforcement and Regulators Who Assert 

Queried BSA Data Led to Detection and 

Deterrence of Illicit Activity (%) 

92 90 93 90 90

BSA Administration and Analysis 

Percentage of Users Satisfied with 

FinCEN Information Sharing Systems 

(%) 

89 88 87 85 85

Description of Performance 

FinCEN conducts four annual surveys of the BSA user-facing systems, information sharing 

tools, and to assess the value of FinCEN’s data and analysis. The results provide valuable 

feedback on FinCEN’s performance safeguarding the financial system from illicit use, 

combatting money laundering, and promoting national security. 

Additionally, FinCEN monitors the percentage of domestic law enforcement and regulators who 

assert that queried BSA data led to the detection and deterrence of illicit activity. The survey 

looks at the value of FinCEN data, such as whether the data provided unknown information; 

supplemented or expanded known information; verified information; helped identify new leads; 

opened a new investigation or examination; supported an existing investigation or examination; 

or provided information for an investigative or examination report. 

The final performance measure is based on survey responses and represents user satisfaction 

with the BSA E-Filing System, FinCEN Query, and the Egmont Secure Web (ESW). Starting 

with industry, FinCEN collects and maintains BSA reports filed by financial institutions and 

other filers. In turn, FinCEN provides authorized users that include, where appropriate, 

Treasury’s Office of Terrorism and Financial Intelligence (TFI) access to a query system 

containing 16 years of BSA data. FinCEN also provides foreign FIUs in the Egmont Group with 

a secure system for exchanging financial intelligence to combat money laundering and terrorist 

financing. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 57
Department of the Treasury - Budget in Brief 58
Alcohol and Tobacco Tax and Trade Bureau 

Program Summary by Budget Activity 

Dollars in Thousands

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating 

Plan 1

Annualized 

CR Request $ Change % Change 

Collect the Revenue $57,526 $57,526 $77,821 $20,295 35.28% 

Protect the Public $66,811 $66,811 $73,042 $6,231 9.33% 

Subtotal, TTB $124,337 $124,337 $150,863 $26,526 21.33% 

Reimbursable and Offsetting Collections 2 $7,072 $7,880 $7,880 $0 0.00% 

Unobligated Balances from Prior Years 3 $4,611 $4,824 $4,450 ($374) -7.75%

Transfers In/Out 4 $1,087 $838 $0 ($838) NA 

Total Program Operating Level $137,107 $137,880 $163,194 $25,314 18.36% 

Direct FTE 487 508 548 40 7.87% 

Reimbursable FTE 14 12 12 0 0.00% 

Total Full-time Equivalents (FTE) 501 520 560 40 7.69% 

1FY 2021 Resources by Budget Activity reflect levels appropriated in P.L. 116-260, the Consolidated Appropriations Act of 2021. FY 2021 

Full-time Equivalents (FTE) and FY 2021 Other Resources reflect actuals.

2

Includes reimbursements from the Treasury Executive Office of Asset Forfeiture (TEOAF) Mandatory Fund, Community Development 

Financial Institution (CDFI) Fund, and Treasury Departmental Offices; and offsetting collections from Puerto Rico Cover-Over Program.

3All years include carryover of prior two-year set aside funding for trade practice enforcement and recoveries of 50 percent in unobligated 

balances from prior one-year funding.

4Actual obligations (FY 2021) and approved allocation (FY 2022) from TEOAF Secretary's Enforcement Fund & Strategic Support transfers.

Summary 

The Alcohol and Tobacco Tax and Trade Bureau (TTB) serves as the nation’s primary Federal 

authority in the taxation and regulation of the alcohol and tobacco industries. TTB is responsible 

for the administration and enforcement of the Internal Revenue Code (IRC) provisions for excise 

taxes on alcohol, tobacco, firearms, and ammunition, and the Federal Alcohol Administration 

(FAA) Act, which provides for the regulation of the alcohol beverage industry to protect U.S. 

consumers and ensures a fair and competitive marketplace for U.S. businesses. 

The economic impact of COVID-19 is still reverberating across U.S. communities, including for 

many of the small breweries, wineries, and distilleries that comprise the majority of TTB 

taxpayers. In FY 2023, in support of the Administration’s economic recovery and growth 

priorities, TTB plans to focus on timely service levels and facilitating voluntary compliance by 

simplifying tax and regulatory requirements, issuing clear and timely industry guidance, and 

modernizing its online filing systems. 

At the FY 2023 funding level, TTB will continue to make critical investments in online filing 

systems as part of its multi-year information technology (IT) modernization strategy to develop 

an integrated online experience for all tax and regulatory transactions with TTB. By improving 

the ease and usability of its online platforms, TTB aims to increase electronic submissions, 

improve timely filings, and support taxpayer compliance. Reducing paper submissions also 

supports “green” filing practices in line with the Administration’s climate change agenda. 

Additionally, in FY 2023, TTB’s mission will expand to include a new import claims program. 

The Craft Beverage Modernization Act (CBMA), as amended, transfers jurisdiction for importrelated provisions from U.S. Customs and Border Protection (CBP) to Treasury as of January 1, 

2023. Treasury intends for TTB to administer the new CBMA import claims program. TTB is 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 59
taking a data-driven and risk-based approach to stand up the new claims program to provide 

importers the CBMA tax benefits. The FY 2023 request supports the development and 

maintenance of custom IT modules for foreign producers and importers to enable online filing 

and processing of claims, as well as additional tax administration and enforcement staff 

necessary to timely issue refunds. 

Budget Highlights 

Dollars in Thousands

FTE Amount

FY 2022 Annualized CR 508 $124,337 

Changes to Base:

2023 Maintaining Current Levels (MCLs): 0 $4,604 

Pay Annualization (2.7% average pay raise) 0 $572 

Pay Raise (4.6% average pay raise) 0 $2,942 

Non-Pay 0 $1,090 

Other Adjustments: 0 $6,993 

Adjustments to meet Current Operating Levels 0 $6,993 

Subtotal Changes to Base 0 $11,597 

FY 2023 Current Services 508 $135,934 

Program Changes:

Program Increases: 40 $14,929 

CBMA Import Claims 40 $14,929 

FY 2023 President's Budget Request 548 $150,863 

Budget Adjustments 

Adjustments to Request 

Maintaining Current Level (MCLs)............................................+$4,604,000 / +0 FTE 

Pay Annualization (2.7%) +$572,000 / +0 FTE 

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

Pay Raise (4.6% in 2023) +$2,942,000 / +0 FTE 

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

Non-Pay +$1,090,000 / +0 FTE 

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

equipment. 

Other Adjustments............................................................+$6,993,000 / +0 FTE 

Adjustments to meet Current Operating Levels, +$6,993,000 / +0 FTE 

Treasury requests adjustments to meet current services operating levels. Current Operating 

Levels include the annualization of the January 2021 1.0% average pay raise, 2.7% average pay 

raise in January 2022, FY 2022 FERS Contribution Increases, and FY 2022 non-labor expenses. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 60
Program Increases...............................................................+$14,929,000 / +0 FTE

CBMA Import Claims, +$14,929,000 / + 40 FTE 

TTB is requesting $14.9 million and 40 FTE to implement and administer CBMA provisions 

related to imported alcohol. Starting in January 2023, alcohol beverage importers will no longer 

be eligible for the CBMA tax benefits at the time of entry; rather, importers will be required to 

pay the full tax rate at entry and submit quarterly refund claims to TTB to receive the benefits. 

TTB anticipates that this program will roughly double its current claims workload, estimating 

that importers will submit approximately 7,000 claims per year for roughly $250 million in 

refunds. 

TTB requires additional resources to implement and administer the new import claims program 

so that current services and operations are not disrupted. This investment funds the full-year cost 

for the program, including: 

• IT Systems and Support, + $5,500,000 / +0 FTE 

TTB plans to develop two online modules that will enable TTB to receive import claims and 

foreign producer assignments electronically as well as develop automated validations for 

these claims. 

• Foreign Producer Registration & Import Claims and Bond Processing, +$3,386,000 / +22 

FTE 

TTB requests additional staff to process foreign producer registrations, importer claims, and 

related submissions. 

• Enforcement and Risk Analysis, +$4,536,000 / +11 FTE 

TTB plans to develop risk-targeting tools to identify ineligible or fraudulent claims for 

review and field enforcement. TTB will also acquire new data sets to improve and maintain 

visibility into controlled groups. 

• Regulations and Guidance, +$1,009,000 / +5 FTE 

TTB requests additional staff to develop implementing regulations and industry guidance and 

to educate industry stakeholders on new requirements. 

• Administrative Support, +$498,000 / +2 FTE 

TTB requests additional administrative support to address human resources-related needs. 

Legislative Proposals 

TTB has no legislative proposals. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 61
Performance Highlights 

 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Collect the Revenue Amount of Revenue Collected Per 

Program Dollar ($) 339 380 375 I I 

Collect the Revenue Voluntary Compliance from Large 

Taxpayers - Overall (%) 91 91 93 95 95 

Collect the Revenue By Payment 99 99 99 - - 

Collect the Revenue By Tax Return 84 84 87 - - 

Collect the Revenue By Operational Report 83 83 87 - - 

Collect the Revenue Electronically Filed Tax Returns - 

Pay.gov (%) 41 43 48 60 65 

Collect the Revenue Electronically Filed Operational 

Reports - Pay.gov (%) 42 46 50 60 65 

Collect the Revenue Claims Processed within Service 

Standard (30-45 days) (%) 1/ 71 85 85 

Protect the Public Permit Applications Processed within 

Service Standards (75 days) (%) 58 84 92 85 85 

Protect the Public 

Alcohol Beverage Label and Formula 

Applications Processed within Service 

Standards (15 days) (%) 2/ 

48 83 92 85 85 

Protect the Public Initial Error Rate for Permit 

Applications (%) 71 62 67 25 25 

Protect the Public Initial Error Rate for Label and 

Formula Applications (%) 37 34 31 25 25 

Protect the Public Electronically Filed Permit 

Applications (%) 89 92 95 95 95 

Protect the Public Electronically Filed Label and 

Formula Applications (%) 99 99 100 I I 

Protect the Public Customer Satisfaction Rate with eGov 

Systems - Permits Online (%) 68 78 79 80 80 

Protect the Public Customer Satisfaction Rate with eGov 

Systems - COLAs Online (%) 77 80 83 80 80 

Protect the Public Customer Satisfaction Rate with eGov 

Systems - Formulas Online (%) 3/ 70 73 80 80 80 

Key: I – Indicator 

1/ Includes current tax claim types, including drawback claims from manufacturers of nonbeverage products (30-day service standard) and all 

other claims (45-day service standard); in FY 2023, TTB will modify the measure to include CBMA import claims. 

2/ Service standards are set annually based on TTB analysis of submission volume, error rates, and resource levels. In FY 2018, following a 

spike in submission volume, TTB established service standards of 15 days for both labels and formulas; these standards have remained in effect 

through FY 2021. 

3/ Results represent beverage alcohol filers only (nonbeverage alcohol formula submissions are excluded). 

Description of Performance 

In FY 2021, TTB met or exceeded the performance targets for 10 of its 15 performance 

measures. TTB also monitored performance through several key indicators that support datadriven decision making across TTB’s strategic goals. Across its performance measures, TTB 

made substantial improvements in FY 2021 in key service and operational measures, with most 

exceeding target or trending in a positive direction by year-end, demonstrating TTB’s effective 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 62
strategies to drive improved service and compliance across the industries that TTB regulates. To 

meet its performance goals in FY 2023, TTB will implement an aggressive strategic agenda that 

integrates policy updates, process improvements, and modern technology, as well as data-driven 

outreach and enforcement. 

TTB’s Collect the Revenue budget activity includes all tax processing, verification, enforcement, 

and outreach efforts related to administering the Federal excise tax on alcohol, tobacco, firearms, 

and ammunition products. In ensuring a level playing field for those engaged in the trade of 

these regulated commodities, TTB also takes appropriate enforcement action to detect and 

address tax evasion and fraud to ensure all products sold in the marketplace are properly taxpaid. 

In 

FY 2021, TTB collected excise taxes totaling $20.3 billion, comprised of $10.8 billion for 

tobacco products, $8.4 billion for alcohol beverage products, and $1.1 million for firearms and 

ammunition. 

The investments in the Collect the Revenue activity resulted in the following performance 

highlights and accomplishments during FY 2021: 

 TTB collected $20.3 billion in excise taxes and other revenues from a tax base of nearly 

37,000 taxpayers in the alcohol, tobacco, firearms, and ammunitions industries. In FY 2021, 

TTB returned $375 for every dollar invested in its tax collection activities. 

 Electronically filed tax returns and operational reports trended positively in FY 2021, 

although still roughly half of TTB tax submissions are submitted to TTB via Pay.gov, the 

current online system for electronic submissions. High rates of paper filings make 

compliance monitoring and fraud detection more difficult and costly, and have a higher 

environmental impact. The IT system modernization investment requested for FY 2023 will 

support system improvements that will drive increased electronic tax filing rates, and should 

result in more accurate, timely, and complete submissions as well as improved access to data 

for tax verification. 

 TTB made progress in reversing the declining filing compliance trend for its large taxpayers, 

defined as those with $50,000 or more in annual tax liability. Given the revenue exposure, 

TTB set a high target for filing compliance for its largest taxpayers at 95 percent. In 

FY 2021, TTB achieved an overall compliance rate of 93 percent from its large taxpayers in 

meeting all tax filing requirements, up from 91 percent last year. Payment compliance rates 

remained high, at over 99 percent, indicating that the majority of reported liabilities are paid 

on time. Compliance rates for both tax returns and operational reports increased to 87 

percent, up roughly 3-4 percent over last year. These filings provide important information 

for tax verification and fraud detection, and require continued focus to improve compliance 

through FY 2023. Late filings represent a significant portion of the compliance violations, 

and TTB plans to focus on effective strategies to address non-compliance that undermines 

the level playing field – particularly critical for the small producers who comprise the 

majority of TTB taxpayers. The FY 2023 request supports the IT system and analytics 

enhancements that would enable TTB to more efficiently detect and address these issues. 

 Additionally, in FY 2023, TTB’s mission will expand to include a new import claims 

program. CBMA, as amended, transfers jurisdiction for import-related provisions from CBP 

to Treasury as of January 1, 2023. TTB is taking a data-driven and risk-based approach to 

administer the new claims program to provide importers with CBMA tax benefits. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 63
The FY 2023 funding supports the development and maintenance of custom IT modules for 

foreign producers and importers to enable online filing and processing of claims, as well as 

additional tax administration and enforcement staff necessary to timely issue refunds. TTB is 

adding a new measure of claims processed within service standards to monitor its ability to 

timely issue refund claims across all claims types. TTB’s ability to quickly and accurately 

issue tax refunds fills a critical business need, particularly for those potentially experiencing 

cash flow issues during the pandemic. TTB’s service standards for drawback claims by 

manufacturers of nonbeverage products is 30 days; the service standard for all other claims is 

45 days. CBMA import claims will be included beginning in FY 2023. In FY 2021, in 

baselining this new measure, TTB met its respective service standards for 71 percent of 

claims submissions. Going forward, TTB plans to continue focusing on process and IT 

system enhancements to support efficient claims filing and processing, with the aim of 

improving service levels and preventing potential service disruptions due to the anticipated 

influx of CBMA import claims. 

TTB’s Protect the Public budget activity funds the programs that ensure the integrity of the 

products and industry members in the marketplace; promote compliance with Federal laws and 

regulations by the more than 111,000 businesses that TTB regulates; facilitate fair and lawful 

domestic and international trade in the alcohol and tobacco commodities; and provide full and 

accurate alcohol beverage product information to the public as a means to prevent consumer 

deception. 

The investments in the Protect the Public activity resulted in the following performance 

highlights and accomplishments during FY 2021: 

 TTB received over 195,000 label applications and 28,000 formula applications for new 

alcohol and beverage product approvals. Federal law prohibits the import or domestic 

bottling of an alcohol beverage without an approved Certificate of Label Approval (COLA), 

making this service integral to U.S. businesses and economic recovery priorities. Even as 

submission volume increased to at or above pre-COVID levels, TTB performance improved 

in FY 2021. TTB ended the year at 93 percent of label applications meeting the 15‐day 

service standard, exceeding its 85 percent target. This was achieved through effective 

monitoring and management of the application backlog combined with strategic workforce 

deployment in response to submission fluctuations. By employing similar strategies, TTB 

was also able to overcome significant increases in formula submissions to meet the 15-day 

standard for 92 percent of formula applications, also exceeding its 85 percent target. 

 TTB received approximately 8,300 applications for a Federal permit or registration, and 

qualified approximately 7,100 new businesses, predominantly small businesses. A TTB 

permit or registration is required before a business can lawfully operate in the alcohol and 

tobacco industries, and TTB ensures a fair and lawful marketplace by screening permit 

applicants to ensure only qualified persons engage in operations. In FY 2021, TTB made 

significant advances in its priority performance goal to timely issue permits to qualified 

applicants. With submission volume down, and through continued process improvements, 

TTB was able to reduce backlogs and accelerate service levels. Across permit types, TTB 

reduced average approval times to 34 days in FY 2021, down 65 percent since TTB 

established its priority goal in FY 2018. Additionally, TTB surpassed its priority goal target 

to issue permits within the 75-day service standard for 85 percent of applicants, achieving 92 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 64
percent by year-end. TTB achieved these performance improvements using new analytic 

tools to support more effective workload management and oversight. 

 TTB made significant progress in reducing the error rate on initial permit, label, and formula 

applications, a critical strategy to maintaining timely service, although performance remains 

well above the targeted rate of 25 percent, at 67 percent for permit applications and 31 

percent for label and formula applications. Improvements in FY 2021 were driven by system 

enhancements and online guidance, as well as internal training, and guided by ongoing 

analysis of high frequency errors. Performance in permitting is expected to continue to 

improve following recent enhancements to the Permits Online system and completion of 

planned rulemakings to implement broader changes to TTB permit applications. At the 

FY 2023 funding level, TTB will also continue to pursue system-based validations and user 

guidance to reduce label and formula application errors. 

 System enhancements to date have resulted in high rates of customer satisfaction with TTB's 

eGov systems. TTB monitors user satisfaction with the process of submitting an application 

through its eGov systems, collecting responses via e-mail survey to assess factors such as 

ease of access, guidance, and overall experience. In FY 2021, satisfaction rates increased, 

from 80 percent to 83 percent for COLAs Online users and 73 percent to 80 percent for 

Formulas Online users. TTB attributes these increases in part to reduced processing times, 

and anticipates that performance will continue to improve through FY 2023 in line with 

timely service levels. Further, TTB expects that planned system improvements funded at the 

FY 2023 request level, combined with regular review of survey feedback, will help TTB to 

exceed its user satisfaction target of 80 percent and continue to attract users to its online 

systems to maintain high electronic filing rates. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 65
Department of the Treasury - Budget in Brief 66
Bureau of the Fiscal Service 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change 

Accounting and Reporting $96,472 $89,482 $98,158 $8,676 9.7% 

Collections $41,109 $43,596 $48,020 $4,424 10.1% 

Payments $123,190 $123,697 $132,576 $8,879 7.2% 

Retail Securities Services $59,312 $64,244 $67,816 $3,572 5.6% 

Wholesale Securities Services $25,486 $24,550 $25,915 $1,365 5.6% 

Matured Unredeemed Debt $25,000 $25,000 $0 ($25,000) -100.0% 

Subtotal, Bureau of Fiscal Service $370,569 $370,569 $372,485 $1,916 0.5%

Reimbursable $224,642 $208,823 $185,149 ($23,674) -11.3%

Debt Collection Fund $165,538 $187,363 $199,236 $11,873 6.3%

Unobligated Balances Brought Forward $137,952 $202,056 $188,713 ($13,343) -6.6% 

Total Program Operating Level $898,701 $968,811 $945,583 ($23,228) -2.4% 

Direct FTE 1,922 1,866 1,896 30 1.6%

Reimbursable FTE 15 9 9 0 0.0%

Total Full-time Equivalents (FTE) 1,937 1,875 1,905 30 1.6%

Note: FY 2021 Other Resources and Full-time Equivalents (FTE) reflect actuals. Tables does not include supplemental funding provided under 

the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L.116-136) and the American Rescue Plan (ARP)(P.L.117-2). 

Unobligated balances do not include CARES and ARP. Matured Unredeemed Debt funding remains available and unexpended. Also, the 2023 

Budget Appendix includes a separate presentation for the Debt Collection Fund. 

Summary 

The FY 2023 request for the Fiscal Service is $372.485 million. The Budget ensures the viability 

of the Government’s National Financial Critical Infrastructure (NFCI) that finances Federal 

operations, collects revenue, disburses payments, and reports on the Government’s financial 

position. Because of Fiscal Service’s central role in Government-wide financial operations, the 

Budget also supports Treasury’s leadership in transforming Federal financial management to 

become more efficient, more accurate and deliver better service to citizens. 

The Budget provides resources to maintain current operations and supports ongoing initiatives in 

business modernization, customer experience, improving use of data, expanding access to digital 

financial services, innovative financial technology, operational integrity, and our workforce. This 

Budget supports the Financial Management Quality Service Management Office (FM QSMO), 

which is responsible for operating the Federal marketplace and making quality core financial 

service offerings available to all Federal agencies (funding for this activity was requested in 

FY 2022). The Budget also focuses on promoting integrity and equity in payment and collection 

practices. 

The Budget also supports ongoing operations related to cybersecurity for High Value Assets 

(HVAs) and other systems that support the NFCI. Fiscal Service will continue to partner with the 

Department, leveraging resources provided through the Treasury Cybersecurity Enhancement 

Account, to implement modern solutions that will support the security, resiliency, and agility of 

these critical systems and continue to maintain the financial integrity and efficiency of our 

operations. Our work will also continue to strengthen our cybersecurity posture by enhancing our 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 67
ability to identify threats and carry out the recent Executive Order 14028, Improving the Nation’s 

Cybersecurity and OMB Memo M-22-09, Federal Zero Trust Strategy. 

These priorities will advance Treasury’s Strategic Plan FY 2022-2026, promote Fiscal Service’s 

mission to transform Federal financial management, and result in improved service for the 

American public. Fiscal Service has planned a reorganization to better position itself for the 

future and translate the goals of Treasury’s strategic plan as well as the Bureau’s Vision for the 

Future of Federal Financial Management into organizational capabilities. Fiscal Service is not 

requesting any additional funds to implement this reorganization, and the reorganization does not 

result in any changes to the structure of our budget or program line items. 

Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2022 Annualized CR 1,559 $370,569 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $12,276 

Pay Annualization 0 $1,593 

Pay Raise (4.6% average pay raise) 0 $8,197 

Non-Pay 0 $2,486 

Other Adjustments: 

Adjustments to Meet Current Operating Levels 0 $6,940 

Non-Recurring Costs 

Matured Unredeemed Debt

1

 0 ($25,000) 

Subtotal Changes to Base 0 ($5,784) 

FY 2023 Current Services 1,559 $364,785 

Program Changes: 

Program Increases: 2 $7,700 

Quality Service Management Office1

 2 $3,700 

Fraud Prevention and Equitable Debt Collection Initiatives 0 $4,000 

FY 2023 President's Budget Request 1,561 $372,485 1

Included in the FY 2022 President's Budget.

Budget Adjustments 

Maintaining Current Levels (MCLs).......................................................+$12,276,000 / +0 FTE 

Pay Annualization (2.7%) +1,593,000 / +0 FTE 

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

Pay Raise (4.6%) +$8,197,000 / +0 FTE 

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

Non-Pay +$2,486,000 / +0 FTE 

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

and equipment. 

 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 68
Other Adjustments......................................................................................+$6,940,000 / +0 FTE 

Adjustments to Meet Current Operating Levels +$6,940,000 / +0FTE 

Funds are requested to cover pay and non-pay inflationary costs that are realized in FY 2022 but 

not appropriated under an annualized CR. 

Non-recurring Cost....................................................................................-$25,000,000 / +0 FTE 

Matured Unredeemed Debt -$25,000,000 / -0FTE 

United States Savings Bonds that have reached final maturity and stopped earning interest are 

considered Matured Unredeemed Debt (MUD). As of the end of FY 2021, the MUD balance 

had reached $29.9 billion. The Consolidated Appropriations Act, 2021, (P.L. 116-260) provided 

$25 million, available until expended, for the digitization of records of matured savings bonds 

that have not been redeemed. This adjustment removes this appropriation from the FY 2023 

Current Services levels. 

Program Increases......................................................................................+$7,700,000 / + 2 FTE 

Quality Services Management Office +$3,700,000 / +2 FTE 

This funding, which was originally requested in the FY 2022 President’s Budget, will support the 

continued implementation and management of the Financial Management Quality Service 

Management Office (FM QSMO) Marketplace, advance Government wide adoption of shared 

services, and ensure robust financial management support for Federal agencies. Funding will 

support ongoing collaboration with agency leaders modernizing financial systems; management 

of processes to ensure equitable access for industry to offer modern, secure, innovative, 

standards-based solutions and services as providers in the Marketplace; review of agency 

Marketplace acquisition requests to ensure adherence to standards; and delivery of expert 

guidance that will advance Government-wide financial management goals. FM QSMO will 

streamline access to Treasury services and empower customer agencies to create new 

opportunities for underserved communities through increased opportunities for small and 

disadvantaged businesses, which advances Treasury Strategic Objectives 1.3 (Economically 

Resilient Communities) and 5.4 (Customer Experience Practice). 

Fraud Prevention and Equitable Debt Collection Initiatives +$4,000,000 / +0 FTE 

Fiscal Service continues to focus on payment integrity and implementing best practices to ensure 

equitable debt collections. The Payment Integrity Center of Excellence (PICOE) and the Do Not 

Pay (DNP) Business Center improve the integrity of Government-wide financial transactions by 

providing business insight and solutions that assist government agencies in identifying, 

preventing, and recovering improper payments. DNP also assists agencies by providing a 

combination of access to data sources and data analytics to aid in identification, mitigation, and 

elimination of improper payments. PICOE will continue to leverage cross Government data 

sharing, an account verification service, the Treasury Check Verification System, investigative 

case support and other activities to improve payment accuracy and integrity. These activities will 

help to advance the Administration’s efforts to prevent and detect identity theft involving public 

benefits. While promoting the integrity of payments, Fiscal Service will also be promoting and 

reviewing equity in its debt collection practices by helping customer agencies to identify and 

implement changes that will improve their processes. This work will enable the Bureau to 

leverage data while enhancing information sharing practices to advance Treasury Strategic 

Objectives 5.3 (Better Use of Data) and 5.4 (Customer Experience Practice). 

 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 69
Legislative Proposals 

1. Fund the Federal Payment Levy Program via collections. Estimated costs: $220 million in 

Fiscal Service costs to operate the Tax Levy Program in the Treasury Offset Program over 10 

years. Fiscal Service is currently being reimbursed for this cost from IRS appropriated funding. 

This proposal improves the way the Fiscal Service collects its reimbursement from IRS to cover 

Fiscal Service’s costs in developing and operating the Federal Payment Levy Program (FPLP), 

which utilizes the Treasury Offset Program to process levies of Federal payments to collect 

delinquent tax debts. Under the Economy Act, the IRS pays fees to Fiscal Service from the IRS 

annual discretionary appropriation. This proposal authorizes Fiscal Service to recover its costs 

from levy collections, rather than from IRS’s direct appropriation, which reduces administrative 

and overhead costs for both Fiscal Service and IRS. It would also allow IRS to re-direct the use 

of appropriated dollars that are currently needed to fund FPLP to other initiatives that will aid in 

the collection of delinquent tax debt. 

2. Amend the Bank Merger Act to allow for the transition of Treasury-sponsored debit 

card accounts from one bank to another. The cost avoidance associated with this proposal is 

estimated to be $17.64 million in labor and materials. The estimated cost avoidance will only 

materialize if a new financial agent is designated. 

This proposal would amend the Bank Merger Act to allow for the transition of Treasurysponsored debit card accounts from one bank to another when Treasury changes its financial 

agent. Current law restricts Treasury’s ability to move its sponsored debit card accounts to a new 

bank in order to obtain better or lower cost services. Treasury sponsored debit card programs, 

particularly the Direct Express program that provides Social Security benefits and Supplemental 

Security Income benefits, serve a vulnerable population. Thus, any disruption in service resulting 

from the transition to a new financial agent could have a devastating impact. To mitigate these 

risks, this proposal would authorize Treasury to retain new financial agents for services 

involving sponsored debit card accounts. 

 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 70
Performance Highlights 

FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Accounting and Reporting Percentage of Government-wide Accounting 

Reports Issued Timely (%) 99.6 100.0 100.0 99.0 99.0 

Collections Percentage of Total Federal Government 

Receipts Settled Electronically (%) 98.4 99.0 99.6 99.0 99.0 

Payments Percentage of Treasury Payments Made 

Electronically (%) 95.6 96.0 96.2 96.4 96.6 

Payments Count of Improper Payments Identified or 

Stopped (# in Thousands) 22.4 22.8 23.8 22.5 23.6 

Payments Dollar Amount of Improper Payments 

Identified or Stopped ($ Millions) 41.1 43.5 47.6 38.8 40.7 

Retail Securities Services Percentage of Retail Customer Service 

Transactions That Are Unassisted (%) 69.0 70.0 63.0 72.0 73.0 

Wholesale Securities 

Services 

Percentage of Auction Results Released 

Accurately (%) 98.8 100.0 100.0 100.0 100.0 

Wholesale Securities 

Services 

Percentage of Auctions Successfully 

Completed by the Scheduled Close Date (%) 100.0 100.0 100.0 100.0 100.0 

Debt Collection Amount of Delinquent Debt Collected 

Through A11 Available Tools ($ Billions) 9.7 10.7 5.0 5.3 7.6 

Debt Collection Amount of Delinquent Debt Collected 

Through A11 Available Referred ($ Billions) 14.3 15.7 15.9 15.0 13.9 

Debt Collection Percentage of the Active Delinquent Debt 

Portfolio Collected (%) 9.2 7.3 7.0 6.7 6.5 

Description of Performance 

Accounting and Reporting: Fiscal Service collects, analyzes, and publishes Government-wide 

financial information, made available to both the public and private sectors, to provide 

transparency on the Government’s financial status. In FY 2021, Fiscal Service accounted for and 

reported on the financial activity related to the $28.4 trillion public debt and managed a daily 

cash flow of $209.9 billion. Fiscal also issued and serviced $6.2 trillion in Treasury securities 

invested by 53 Federal agencies in over 155 Federal Government trust and investment accounts, 

including $3.2 trillion in 17 managed trust funds. Fiscal Service continued to issue 100 percent 

of Government-wide accounting reports on time, including the annual Financial Report of the 

United States Government, which reports the financial condition of the Federal government 

using accrual basis of accounting. In FY 2023, Accounting and Reporting will continue to pursue 

innovative solutions to data quality challenges, improve delivery and digestibility of data 

available to the American public, modernize analytics capabilities across the Bureau, and 

improve the audit and reporting process for Federal agencies. 

Collections: Fiscal Service administers the world’s largest Government collections system 

through a network of Fiscal and Financial Agents. In FY 2021, Fiscal Service collected nearly 

$4.91 trillion in Federal revenue, settling 99.6 percent of the funds electronically. This is an 

increase over the electronic settlement rate of 99 percent in FY 2020 as Fiscal Service advanced 

several projects to increase digitization, including expanding adoption of eCommerce digital 

collection options across Federal agencies. These projects continued to move paper-based 

transactions to electronic alternatives (e.g., Pay.gov, Digital Wallets, etc.). In FY 2023, Fiscal 

Service will continue to promote electronic alternatives and assist Federal agencies in converting 

collections from paper to electronic media and streamline lockbox networks which process 

paper-based payments and forms, which supports the Administration’s climate priority and 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 71
Treasury Strategic Objectives 3.3 (Financial Innovation) and 4.4 (Sustainable Treasury 

Operations). 

Payments: Fiscal Service delivers Federal payments on behalf of more than 250 Federal entities 

through disbursement mechanisms such as paper checks, Electronic Fund Transfers (EFT), debit 

cards, and other digital payment mechanisms. Fiscal Service continues to increase the percentage 

of Federal payments which are Treasury-disbursed. In FY 2021, Fiscal Service disbursed 

90.5 percent of all Federal payments (88.4 percent without Economic Impact Payments).

In FY 2021, the Fiscal Service payments activity continued to support COVID-19 pandemic 

recovery efforts, specifically the delivery of Economic Impact Payments (EIP) and Advance 

Child Tax Credit payments to the American public. These recovery programs have significantly 

increased the payments workload volume. In FY 2021, Fiscal Service issued approximately 

500 million more payments than in 2019, or a 42 percent increase in the number of payments 

disbursed. In FY 2021, Fiscal Service securely disbursed 1.7 billion payments, totaling 

$6.4 trillion; of these totals, EIP2, EIP3, and CTC payments accounted for more than 428 million 

payments to individuals, totaling $593 billion. 

While supporting recovery efforts, Fiscal Service also continued advancing its planned 

initiatives and modernizations within the Payments activity. One major initiative in this area 

was the FY 2020-2021 Agency Priority Goal (APG) to improve the public’s payment 

experience by reducing paper checks and increasing electronic payments. Excluding EIPs and 

checks directly related to the pandemic, Fiscal Service achieved its APG targets and reduced 

checks from 54.2 million in 2019 to 48.8 million in 2021, a 10 percent reduction. Additionally, 

collaborating with the IRS, Fiscal Service increased the IRS Tax Refund electronic rate from 77 

percent in 2019 to 80.3 percent in 2021. This increase in electronic payments resulted in faster, 

more secure, and significantly fewer payment issues or exceptions for the public. 

In FY 2023, Fiscal Service will build on these efforts with a new APG to provide a modern, 

seamless, and secure payment experience for the public that meets customer needs while 

reducing costs, expanding financial inclusion, and improving climate sustainability of Treasury’s 

operations by increasing electronic payments. Fiscal Service plans to continue modernizing the 

entire payments lifecycle. This initiative will modernize payment disbursement and address 

aging technology, resulting in increased efficiencies, improved resiliency and security, and an 

enhanced user experience. 

Retail Securities Services: Fiscal Service provides simple, safe, and affordable ways for 

investors to directly interact with the Department of the Treasury to save for their future by 

investing in Treasury securities. In FY 2021, Fiscal Service electronically issued $73.6 billion in 

Treasury retail securities (includes sales and reinvestments), processed $86.4 billion in 

redemptions, added 219,740 new accounts to TreasuryDirect, and made 2.2 million retail 

payments worth $23.1 billion. In FY 2021, Retail Securities saw a decline in the percentage of 

unassisted retail customer service transactions, with 63 percent unassisted during the fiscal year, 

significantly lower than the 71 percent target. This was the result of both reduced sales of 

marketable Treasury securities, as well as a continued trend of customers redeeming savings 

bonds through mail services instead of in-person interactions with financial institutions as result 

of the COVID-19 pandemic. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 72
Retail Securities continues to improve the customer experience and help owners find and claim 

savings bonds that have reached final maturity and stopped earning interest through the Matured 

Unredeemed Debt (MUD) initiative. Treasury’s redemption process for paper savings bonds has 

proven effective, given that 99 percent of all paper savings bonds ever issued have been 

redeemed. Annually, Treasury redeems approximately 7.2 million matured savings bonds worth 

$4 billion, including nearly 1.8 million bonds that were five or more years past maturity. As of 

the end of FY 2021, the balance of these matured unredeemed savings bonds was $29.9 billion 

across 82.3 million pieces. During FY 2021, the Bureau began a multi-phase approach to digitize 

and index its records of paper savings bonds. The Bureau also began a data matching effort to 

compare MUD records against various systems (e.g., bureau systems and other government 

databases) to obtain updated bond owner information to develop strategies to better reach these 

customers. For example, the Bureau initiated mailings to a subset of customers within 

TreasuryDirect to create awareness of MUD bonds and provide guidance for redeeming them. In 

addition to other customer experience improvements being considered, Fiscal Service continues 

to work with the National Association of Unclaimed Property Administrators (NAUPA) and the 

National Association of State Treasurers (NAST) to find collaborative solutions to locate owners 

of MUD bonds. 

Wholesale Securities Services: Fiscal Service finances daily Government operations by 

overseeing the announcement, auction, and issuance of marketable Treasury bills, notes, bonds, 

floating rate notes, and inflation-protected securities through reliable, accurate, and secure 

electronic systems. In FY 2021, Treasury successfully conducted 472 auctions and awarded 

$20.04 trillion in Treasury securities – both records for a single year. Fiscal Service also set 

record highs on April 26, 2021, with $267 billion awarded on a single day and on September 8, 

2021, with six auctions held in a single day. Thirteen auctions were held the week of January 25, 

matching the weekly record that was set in FY 2020. Debt financing activities continue to be 

elevated, evidenced by the 45 percent increase in the number of auctions conducted above the 

pre-pandemic FY 2019 level of 325 auctions. Fiscal Service continued to see unprecedented 

demand for borrowing needs that began in FY 2020 with the COVID-19 pandemic. Through this 

increased financing activity, Fiscal Service continued to demonstrate operational excellence by 

successfully completing 100 percent of auctions by the scheduled close date and by releasing 100 

percent of auction results accurately. 

Debt Collection: Fiscal Service is the Government’s central debt collection agency and funds its 

delinquent debt collection operations through fees charged to agencies that refer debts for 

collection. During FY 2021, the COVID-19 pandemic continued to impact delinquent debt 

collection. Total delinquent debt collections fell below the original annual target due to several 

Federal agencies deciding to extend their delinquent debt collection suspensions in response to 

economic concerns related to the pandemic. Fiscal Service ended the year collecting $5.04 

billion in delinquent debt from all tools, falling short of the target of $8.81 billion. Of the $5.04 

billion collected in delinquent debt, $4.8 billion was collected through the Treasury Offset 

Program (TOP), and $269.3 million was collected through Cross-Servicing. TOP’s FY 2021 

collections included delinquent debts owed to states, such as $2.71 billion of delinquent child 

support and $294.8 million of state Unemployment Insurance. Fiscal Service anticipates ongoing 

concerns about the COVID-19 pandemic and associated economic recovery will continue to 

negatively affect collections in FY 2022 and potentially 2023. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 73
Department of the Treasury - Budget in Brief 74
Internal Revenue Service

Program Summary by Budget Activity

Dollars in Thousands

Appropriated Resources

FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT

New Appropriated Resources:

Taxpayer Services 25,989 $2,587,606 27,990 $2,763,606 32,865 $3,385,723 33,041 $3,684,593 17.42% 22.51% 18.05% 33.33%

Pre-Filing Taxpayer Assistance and 

Education 4,514 657,618 5,536 720,276 5,967 803,873 6,003 866,539 7.79% 11.61% 8.44% 20.31%

Filing and Account Services 21,475 1,929,988 22,454 2,043,330 26,898 2,581,850 27,038 2,818,054 19.79% 26.36% 20.42% 37.91%

Enforcement 34,989 $5,004,622 35,604 $5,004,622 38,607 $5,861,649 38,831 $6,272,313 8.43% 17.12% 9.06% 25.33%

Investigations 3,012 678,193 2,965 667,279 3,223 785,121 3,243 838,596 8.70% 17.66% 9.38% 25.67%

Exam and Collections 30,987 4,170,886 31,615 4,160,748 34,331 4,883,575 34,530 5,228,803 8.59% 17.37% 9.22% 25.67%

Regulatory 990 155,543 1,024 176,595 1,053 192,953 1,058 204,914 2.83% 9.26% 3.32% 16.04%

Operations Support 12,037 $4,104,102 11,631 $3,928,102 11,923 $4,543,268 11,523 $3,833,734 2.51% 15.66% -0.93% -2.40%

Infrastructure 886,713 918,659 1,039,852 405,408 13.19% -55.87%

Shared Services and Support 5,122 1,046,754 5,067 1,109,740 5,183 1,200,105 4,783 1,125,014 2.29% 8.14% -5.60% 1.38%

Information Services 6,915 2,170,635 6,564 1,899,703 6,740 2,303,311 6,740 2,303,312 2.68% 21.25% 2.68% 21.25%

Business Systems Modernization 394 $222,724 308 $222,724 412 $310,027 412 $310,027 33.77% 39.20% 33.77% 39.20%

Subtotal New Appropriated Resources 73,409 $11,919,054 75,533 $11,919,054 83,807 $14,100,667 83,807 $14,100,667 10.95% 18.30% 10.95% 18.30%

Other Resources:

Reimbursables 694 98,412 585 157,000 614 164,851 614 164,851 4.96% 5.00% 4.96% 5.00%

Offsetting Collections - Non 

Reimbursables 66,504 10,000 10,500 10,500 5.00% 5.00%

User Fees 81 502,449 86 414,364 1,006 340,733 1,006 340,733 1069.77% -17.77% 1069.77% -17.77%

Recovery from Prior Years 35,304 19,476 19,476 19,476

Unobligated Balances from Prior 

Years 1,590 652,599 3,144 1,332,422 41 421,908 41 421,908 -98.70% -68.34% -98.70% -68.34%

Transfers In/Out 140 140 140

Recoveries Paid 3,398 3,398 3,398

Resources from Other Accounts4

334 138,409 460 117,243 821 146,057 34 146,057 78.48% 24.58% -92.61% 24.58%

Subtotal Other Resources 2,699 $1,493,677 4,275 $2,054,043 2,482 $1,107,063 $1,695 $1,107,063 -41.94% -46.10% -60.35% -46.10%

Total Budgetary Resources 76,108 $13,412,731 79,808 $13,973,097 86,289 $15,207,730 $85,502 $15,207,730 8.12% 8.84% 7.13% 8.84%

% Change

FY 2022 to FY 2023 

Request with Technical 

Adjustment

% Change

FY 2021

Operating Plan1, 2

FY 2022

Annualized CR3

FY 2023

Request

FY 2022 to FY 2023 

Request

1 FY 2021 Other Resources represent actuals.

3 FY 2022 Annualized CR includes an interappropriation transfer of $208 million from Enforcement to Taxpayer Services.

FY 2023

Request with Technical 

Adjustment

4

Resources from Other Accounts reflect planned spending from Private Collection Agency retained earnings.

2 FY 2021 Operating Plan includes an interappropriation transfer from Enforcement ($208 million) to Taxpayer Services ($32 million) and Operations Support ($176 million).

Note: The new appropriated resources do not include the $15 million in the Families First Coronavirus Response Act (FFCRA) (P.L. 116-127), $750.7 million under the Coronavirus Aid, Relief, and 

Economic Security (CARES) Act (P.L. 116-36), the $509 million provided in the Consolidated Appropriations Act, 2021 (P.L. 116-260), and the $1.86 billion provided by the American Rescue Plan 

(ARP) (P.L. 117-2). Unobligated balances in FY 2022 and FY 2023 inlcude ARP funding.

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 75
Summary

The IRS FY 2023 budget request is $14.1 billion, $2.2 billion (18.3 percent) more than the 

FY 2022 annualized continuing resolution level of $11.92 billion. 

The Budget includes total program increases totaling $1.31 billion that includes resources for the 

following categories: Putting Taxpayers First ($320.17 million); Ensure Fairness of the Tax System 

($469.25 million), Enhance Taxpayer Service ($389.11 million), IT Modernization ($78.14 

million), Critical IT Operations ($39.52 million), and Reaching Underserved Communities ($10.17 

million). It funds costs associated with the FY 2022 pay annualization, FY 2023 pay raise, and 

non-pay inflation. The Budget comprises initiatives to improve the taxpayer’s experience with the 

IRS, that will ultimately lead to increased voluntary tax compliance. The request also aims to

ensure we stay current with paper inventory receipts and improve telephone and in-person service; 

facilitate better oversight of high income and corporate tax returns; and accelerate the development 

of digital tools to enable smarter communication with taxpayers. In addition, the Administration 

continues to support a multiyear investment in IRS enforcement to increase tax compliance and 

revenues that the President has previously proposed. 

In FY 2021, the IRS delivered a successful filing season that opened February 12, 2021. IRS

announced on March 17, 2021, that the deadline would be extended from April 15, 2021, to May 17, 

2021. During the 2021 filing season, the IRS:

• Received about 148 million individual tax returns by mid-May and issued more than 95.6 

million refunds totaling more than $270 billion with an average individual refund of $2,827 as 

of May 21, 2021. Almost 93.6 percent of these individual returns were filed electronically by 

mid-May; 

• Achieved a 15.4 percent filing season level of service (LOS), defined as the relative success 

rate of taxpayers calling the toll-free line for assistance, 45 percent below the target of 28 

percent which was set due to funding constraints and extraordinary demand; 

• Answered more than 35 million calls, similar to last year’s filing season, with 11 million being 

answered by IRS assistors and over 24 million being answered through automation; 

• Served approximately 394,000 taxpayers face-to-face in the Taxpayer Assistance Centers 

(TAC). Almost 792,000 taxpayers called the IRS’s TAC appointment line resulting in around 

351,000 appointments being scheduled. Approximately 441,000 taxpayers had their issues 

resolved without having to make an appointment; and

• Received 1.4 billion visits to the IRS.gov website with 483 million Where’s My Refund?

completions. This represents a 15 percent increase in the use of IRS.gov and a 14 percent 

increase in Where’s My Refund? compared to the same period during 2020. 

Restructuring IRS Appropriations to Align Support Costs to Mission Costs

With this budget, the Administration proposes a change to the appropriations language that would 

allow Taxpayer Services and Enforcement funding to be used for certain associated support costs 

that are currently reserved for Operations Support funding. Currently, Taxpayer Services and 

Enforcement funding only pays for an employee’s labor cost, not the cost to hire the employee or the 

IT equipment and space needed to make them productive. There are significant benefits to this 

change – future IRS budgets would reflect the full cost of Taxpayer Services and Enforcement, to 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 76
include their necessary support costs. The changes would also prompt IRS Business Units to be more 

efficient with their support costs because they stand to directly benefit from savings. 

The IRS proposes using an internal reimbursable agreement process to carry out the proposed 

funding structure. In FY 2023, rental and Chief Financial Officer (CFO) costs will be reallocated 

from Operations Support to Taxpayer Services and Enforcement with more costs planned to move 

out of Operations Support in the future. A total of $710 million will be shifted from Operations 

Support to Taxpayer Services ($299 million) and Enforcement ($411 million). For additional 

information, please see Section D of the IRS's Congressional Justification (CJ) – Appropriations 

Language and Explanation of Changes, which includes a detailed description and justification of this 

proposal. 

IRS FY 2023 Budget Highlights 

Dollars in Thousands

FY 2023 

Request Rent CFO

Adjustment

Total

Proposed 

Funding Levels

3,385,723 265,830 33,040 298,870 3,684,593

5,861,649 368,613 42,051 410,664 6,272,313

4,543,268 (634,443) (75,091) (709,534) 3,833,734

310,027 310,027

Grand Total $14,100,667 - - - $14,100,667

Proposed Adjustments 

Appropriation

Taxpayer Services

Enforcement

Operations Support

Business Systems Modernization 

FY 2023 

Request Rent CFO

Adjustment

Total

Proposed 

Funding Levels

3,385,723 265,830 33,040 298,870 3,684,593

5,861,649 368,613 42,051 410,664 6,272,313

4,543,268 (634,443) (75,091) (709,534) 3,833,734

310,027 310,027

Grand Total $14,100,667 - - - $14,100,667

Proposed Adjustments 

Appropriation

Taxpayer Services

Enforcement

Operations Support

Business Systems Modernization 

Bureau: Internal Revenue Service 

Summary of FY 2023 Request $000 FTE $000 FTE $000 FTE $000 FTE $000 FTE

FY 2022 Annualized CR (ACR) $2,763,606 27,990 $5,004,622 35,604 $3,928,102 11,631 $222,724 308 $11,919,054 75,533

Changes to Base:

FY 2023 Maintaining Current Levels (MCLs) $108,631 $202,663 $119,339 $5,730 $436,363

Pay Annualization (2.7% average pay raise) 17,105 32,228 12,812 401 62,546

Pay Raise (4.6% average pay raise) 88,016 165,832 65,928 2,061 321,837

Non-Pay 3,510 4,603 40,599 3,268 51,980

Base Adjustment $90,285 825 $229,176 358 $115,991 $3,430 $438,882 1,183

Adjustment to Reach Current Operating Levels 90,285 825 229,176 358 115,991 3,430 438,882 1,183

Subtotal FY 2023 Changes to Base $198,916 825 $431,839 358 $235,330 $9,160 $875,245 1,183

FY 2023 Current Services $2,962,522 28,815 $5,436,461 35,962 $4,163,432 11,631 $231,884 308 $12,794,299 76,716

Program Increases:

Putting Taxpayers First 119,034 192 54,331 152 146,805 229 320,170 573

User Authentication 81,000 81,000

Taxpayer Experience Strategy 38,034 192 54,331 152 146,805 229 239,170 573

Ensure Fairness of the Tax System 370,857 2,493 98,396 20 469,253 2,513

Enhance Taxpayer Service 304,167 3,858 84,945 389,112 3,858

Integrated Modernization Business Plan 78,143 104 78,143 104

Critical IT Operations 39,521 36 39,521 36

Focused Strategies for Reaching Underserved Communities 10,169 7 10,169 7

Subtotal FY 2023 Program Increases $423,201 4,050 $425,188 2,645 $379,836 292 $78,143 104 $1,306,368 7,091

Total FY 2023 Request $3,385,723 32,865 $5,861,649 38,607 $4,543,268 11,923 $310,027 412 $14,100,667 83,807

Dollar/FTE Change FY 2023 Request over FY 2022 ACR $622,117 4,875 $857,027 3,003 $615,166 292 $87,303 104 $2,181,613 8,274

Percent Change FY 2023 Request over FY 2022 ACR 22.51% 17.42% 17.12% 8.43% 15.66% 2.51% 39.20% 33.77% 18.30% 10.95%

Technical Adjustments

Rent Adjustment 265,830 368,613 (634,443)

CFO Adjustment 33,040 176 42,051 224 (75,091) (400)

Subtotal FY 2023 Technical Adjustments $298,870 176 $410,664 224 ($709,534) (400)

Total FY 2023 Request incuding Technical Adjustments $3,684,593 33,041 $6,272,313 38,831 $3,833,734 11,523 $310,027 412 $14,100,667 83,807

Dollar/FTE Change FY 2023 Request Including Technical Adjustments over FY 2022 ACR $920,987 5,051 $1,267,691 3,227 ($94,368) (108) $87,303 104 $2,181,613 8,274

Percent Change FY 2023 Request Including Technical Adjustments over FY 2022 ACR 33.33% 18.05% 25.33% 9.06% -2.40% -0.93% 39.20% 33.77% 18.30% 10.95%

TAXPAYER SERVICES ENFORCEMENT OPERATIONS SUPPORT BSM TOTAL

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 77
Budget Adjustments

Maintaining Current Levels (MCLs)....................................... +$436,363,000 / 0 FTE 

Pay Annualization (2.7%) +$62,546,000 / 0 FTE 

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

Pay Raise (4.6% in FY 2023) +$321,837,000 / 0 FTE 

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

Non-Pay +$51,980,000 / 0 FTE 

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

and equipment. 

Base Adjustment........................................................... $438,882,000 / +1,183 FTE

The FY 2022 annualized CR level of $11.9 billion is the base of this budget. In addition to $436 

million to maintain current staffing levels, the base was adjusted by $439 million dollars to reach 

current operating funding level. 

Program Increases................................................... +$1,306,368,000 / +7,091 FTE

Enhance Taxpayer Service +$389,112,000 / +3,858 FTE

This investment will allow the IRS to increase the telephone LOS and enhance information 

technologies to improve taxpayer services. This investment will build on the IRS’s efforts to 

improve telephone services for underserved communities such as those who are deaf or hard of 

hearing, limited English proficiency communities, and victims of identity theft. This investment 

provides a projected LOS of 85 percent in FY 2023 assuming phone demand return to prepandemic levels and the IRS can provide in-person services at pre-pandemic levels This 

investment will continue to return the IRS’s LOS to pre-pandemic levels. During the 2021 filing 

season, the IRS’s LOS fell short of its targets because of the COVID-19 pandemic and 

legislation aimed at providing relief that resulted in massively increased demand for the toll-free 

lines. Individual and Business taxpayer telephone demand increased by 456 percent and 244 

percent, respectively during the 2021 filing season. In FY 2021, the number of taxpayers calling 

to schedule appointments at Taxpayer Assistance Centers (TACs) was 3.9 million above the 

same period in the prior year. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 78
In addition to expanding LOS for underserved communities, funding for this initiative will 

improve the ways taxpayers interact with IRS by enhancing and expanding the range of modern, 

digital tools provided by IRS to deliver a service experience comparable to those available in the 

private sector. By empowering taxpayers to address certain needs without requiring live 

assistance, development of these tools is essential to IRS’s long-term success in satisfying 

taxpayer expectations and meeting the ongoing growth in demand for assistance. 

Critical Information Technology Operations +$39,521,000 / +36 FTE 

The IRS continues to transform its technological landscape and it has made progress on its 

modernization journey to provide taxpayers with a seamless customer experience, while 

empowering employees with the tools and systems needed to provide top quality services and 

enforce the tax law. These successes have increased the need to sustain critical IT operations to 

maintain optimum network performance and functionality. The IRS continues to deploy and 

incorporate new, modernized tools for taxpayers, tax professionals and employees. Taxpayer 

service improvements (additional digital services, up-to-the-minute account information, etc.), 

enterprise efficiency advances (automation, artificial intelligence, machine learning, etc.) and 

new employee tools (case management, collaboration, learning platforms, etc.) all require 

additional bandwidth to sustain a high volume of users processing digitalized capabilities. 

Focused Strategies for Reaching Underserved Communities +$10,169,000 / +7 FTE 

The IRS will cultivate new opportunities for adults and students in underserved communities by 

partnering with state labor and human services officials to identify talent and design training 

programs for adult candidates. Additionally, the IRS will develop a talent pipeline by partnering 

with colleges, universities (with a special focus on Historically Black Colleges and Universities

and other minority servicing institutions) and high schools to design training programs to prepare 

participants for IRS careers. These partnerships will foster equitable economic growth, establish 

long-term federal employment options, and develop a continual stream of talent suited to further 

enhance the taxpayer experience and support the IRS mission. As a first step, the IRS plans to 

create a center in the Mississippi Delta Region, which currently has the highest rate of poverty in 

the United States, excluding the U.S. territories. 

During the latter part of the development of the 2023 Budget, a full year FY 2022 appropriations

bill was not enacted. Therefore, we assume the starting point to be an annualized CR, the FY 2023 

budget includes proposed FY 2022 CJ program increases. Although the investments vary slightly 

in cost, the overall amounts originally proposed in FY 2022 remain the same. The FY 2022 budget 

levels may impact the prioritization of these investments in FY 2023. The following descriptions 

are summarized from the FY 2022 CJ: 

• $320.2 million for continuing the execution of the Taxpayer First Act implementation activities, 

including developing a Taxpayer Experience Strategy (TXS) and delivering new online service 

platforms to facilitate filing and payment for individuals and businesses; 

• $469.3 million for establishing enforcement strategies that will ensure a fair tax system, so 

Americans can feel confident that all taxpayers are paying their fair share of taxes. These 

enforcement efforts will also help increase the audit coverage rate which, in aggregate, has been 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 79
cut in half since FY 2010 of large corporations, pass-through entities, and high wealth 

individuals; 

• $78.1 million for the Integrated Modernization Business Plan is a key IRS priority. The plan 

provides a roadmap for improving IRS systems and taxpayer services. Additionally, the plan will 

enable the IRS to provide quality customer service to taxpayers and deliver long-term budget 

efficiencies as the IRS modernizes capabilities currently provided via legacy applications. 

Legislative Proposals

For information on the FY 2023 revenue legislative proposals, please follow this link:

https://home.treasury.gov/policy-issues/tax-policy/revenue-proposals 

Reduce Paperwork Burden by Permanently Authorizing Current Home to Work 

Transportation for the IRS Commissioner

The IRS requests that the IRS Commissioner position be permanently added to 31 U.S.C. § 

1344(b)(6) as one of the government officials authorized home-to-work transportation. The IRS 

Criminal Investigations unit completed an extensive assessment of the Commissioner’s threat 

environment and has classified the threat status as high. 

PROPOSAL: 

Amend Title 31 U.S.C. § 1344(b)(6) to include “the Commissioner of Internal Revenue” as a 

Federal executive with authorization for passenger carrier transportation between residence and 

place of employment. 

REASONS FOR CHANGE: 

As head of one of the most controversial organizations in the Federal government, the 

Commissioner is the “face of the IRS” and a frequent fixture in national media. Historically, 

Commissioners average multiple formidable threats per year directed at them and their family 

members, including threats of assassination. The internet has allowed anyone with a web browser 

to access personal information of government officials, including photos and home addresses. 

Instances of individuals phoning, mailing, or visiting a Commissioner’s residence, including the 

current Commissioner, are common and well documented. 

Dignitary protection experts have long recognized the vulnerability of protected individuals who 

are engaged in predictable activities, such as commuting to/from the workplace and for many years

IRS Criminal Investigation Division (CI) has consistently provided transportation for the IRS 

Commissioner from Home to Work under recurring 90-day authorizations. The administrative 

burden of compiling, organizing, and summarizing the information required for the recurring 90-

day Home to Work authorizations is significant, requiring executive approval from IRS’s Chief of 

Criminal Investigations, Treasury’s Assistant Secretary for Management, and the Secretary of the

Treasury.

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 80
Fund the Federal Payment Levy Program via collections (proposal also included in the Fiscal 

CJ)

Estimated costs: $220 million in Fiscal Service costs to operate the Tax Levy Program in the 

Treasury Offset Program over 10 years. Fiscal Service is currently being reimbursed for this cost 

from IRS appropriated funding. 

This proposal improves the way the Fiscal Service collects its reimbursement from IRS to cover 

Fiscal Service’s costs in developing and operating the Federal Payment Levy Program (FPLP), 

which utilizes the Treasury Offset Program to process levies of federal payments to collect 

delinquent tax debts. Under the Economy Act, the IRS pays fees to Fiscal Service from the IRS 

annual discretionary appropriation. This proposal authorizes Fiscal Service to recover its costs 

from levy collections, rather than from IRS’s direct appropriation, which reduces administrative 

and overhead costs for both Fiscal Service and IRS. It would also allow IRS to re-direct the use of 

appropriated dollars that are currently needed to fund FPLP to other initiatives that will aid in the 

collection of delinquent tax debt. 

IRS Performance Highlights

Description of Performance

In FY 2021, the IRS continued to provide service to taxpayers and to enforce the laws with integrity 

and fairness. During the pandemic, IRS’s experienced, talented workforce overcame numerous 

obstacles to serve taxpayers, uphold the law and maintain the integrity of the tax system. IRS has

been called on repeatedly to provide economic relief during this national crisis, while also fulfilling 

our core responsibilities of tax administration. For additional information on IRS’s COVID related 

programs, please reference the Treasury Coronavirus Relief, Response, Aid, and Recovery 

Programs Congressional Justification. The IRS’s core responsibilities include collecting more than 

$4 trillion in gross taxes each year and generating approximately 96 percent of the funding that 

supports the federal government’s operations.

Budget Activity Performance Measures

FY2019 

Actual

FY2020 

Actual

FY2021 

Actual

FY2022 

Target

FY2023 

Target

Pre-Filing Taxpayer 

Assistance and Education Enterprise Self-Assistance Participation Rate1 85.4% 90.6% 92.3% 91.0% 91.0%

Filing and Account Services Customer Service Representative Level of Service (LOS)2 65.4% 53.1% 18.5% 30.0% 85.0%

Investigations Criminal Investigations Completed 2,797 2,624 2,766 2,600 2,500

Investigations Conviction Rate 91.2% 90.4% 89.4% 92.0% 92.0%

Exam and Collections Examination Efficiency - Individual 109 76 108 100 114

Information Services Percent of Aged Hardware 31.0% 16.0% 9.3% 20.0% 20.0%

2

 The CSR LOS includes toll-free telephone phone lines answered by Accounts Management assistors only. These lines service 82 percent of all telephone traffic. 

Achieving the FY 2023 LOS target of 85 percent requires timely enactment of appropriations so the IRS can complete hiring and training ahead of the filing season 

and assumes that demand and in person services return to pre-pandemic levels. The IRS's Automated Collection System (ACS) toll-free line is used by taxpayers for 

compliance related inquiries. For FY 2021, the ACS LOS was 37.8 percent. These are both included in the Enterprise LOS, which measures the relative success rate 

of taxpayers calling to speak with an IRS Assistor on any IRS toll-free telephone line. The Enterprise LOS in FY 2021 was 21.3 percent.

1

 In FY 2017, the IRS renamed the Taxpayer Self Assistance Rate measure to Enterprise Self Assistance Participation Rate.

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 81
Taxpayer Services

The IRS strives to deliver high quality and timely service to taxpayers and stakeholders and help 

them understand and meet their tax obligations. The IRS:

• Achieved a rate of 92 percent of Timeliness of Critical Individual Filing Season Tax Products 

to the Public (i.e., tax forms, schedules, instructions, and publications) with 81 out of 88 

products delivered timely, exceeding the FY 2021 target of 85 percent by 8.3 percent. The FY 

2022 and FY 2023 targets are 89 percent; 

• Achieved an accuracy rate of 92.9 percent in terms of Customer Accuracy – Tax Law, 

exceeding the target of 85 percent by 9.3 percent. The FY 2022 and FY 2023 targets are 89 

percent. IRS will continue to monitor results through data-driven analysis of reports to 

achieve future goals; 

• Answered more than 67.7 million calls, a 33 percent increase compared to the same period 

last year; and

• Answered over 93 percent of account questions over the telephone correctly. 

In delivering the Economic Impact Payments, we took every step possible to reach potential 

recipients. The IRS expanded its taxpayer services through proactive outreach efforts to connect 

with underserved communities such as those with limited English proficiency , lower-income 

earners, military, veterans, retired and homeless, among other communities. The IRS engaged 

hundreds of local and national groups, religious organizations, and numerous others to help 

contact underserved communities.

The IRS’s toll-free telephone line is one of the world’s largest customer service phone 

operations. New legislation resulted in added, unplanned demand for toll-free assistance. 

Compared to FY 2020, total assistor demand was up more than 200 percent, with some lines 

seeing increases of more than 2 million calls. Despite these challenges, the IRS was able to 

answer 3.8 million more calls in FY 2021 than the prior year. The IRS will continue to monitor 

demand in real time and shift staff between telephones and paper processing to address demand. 

Due to the unprecedented increase in correspondence inventory levels, the IRS will lower its FY 

2022 LOS target to 30 percent. The Budget requests additional resources for Taxpayer Services 

to increase of the FY 2023 LOS target to 85 percent assuming phone demand returns to prepandemic levels and the IRS can provide in-person services at pre-pandemic levels, and as 

inventories are expected to reach normal levels. 

The IRS continues to improve taxpayer services by developing and improving self-assistance 

tools. The Enterprise Self-Assistance Participation Rate (ESAPR) represents the percent where a 

taxpayer uses one of the IRS’s self-assistance service channels (e.g., automated calls, web 

services) versus needing support from an IRS employee (e.g., face-to-face, over the phone, or via 

paper correspondence). In FY 2021 ESAPR was 92.3 percent, exceeding the target by 3.7 

percent. The web services that had the largest percent change are: Where’s My Amended Return 

(226.4 percent); Online Accounts Sessions (117.8 percent); and Get Transcripts Online (108.1 

percent). Compared to FY 2020, total services increased by 36.4 percent, self-assisted services 

increased by 38.9 percent and assisted services rose 12.4 percent. In FY 2022, IRS will update 

the existing Online Payment Agreements (OPA) and Installment Agreements (IA) applications to 

include business taxpayers and include a new chatbot application for OPAs and IAs for small 

business and self-employed taxpayers. The FY 2022 and FY 2023 target is 91 percent. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 82
Enforcement

In FY 2021, the IRS collected $75 billion through enforcement programs, a return on investment 

(ROI) of about $5 to $1 compared to the IRS appropriated budget. This number is likely 

understated, since the ROI estimate does not include the revenue effect of the indirect deterrence 

value of IRS enforcement programs.

The IRS Criminal Investigation Division (CI) serves the American public by investigating 

potential criminal violations of the Internal Revenue Code and related financial crimes in a 

manner that fosters confidence in the tax system and compliance with the law. In FY 2021, CI 

completed 2,766 criminal investigations, achieved 1,263 convictions with a rate of 89.4 percent, 

and achieved a Department of Justice case acceptance rate of 93.6 percent and a U.S. Attorney 

case acceptance rate of 93.2 percent, which compares favorably with other federal law 

enforcement agencies. The criminal investigations completed performance measure has a FY 

2022 target of 2,600 and a FY 2023 target of 2,500, and the FY 2022 and FY 2023 conviction 

rate target is 92.0 percent. 

The Examination program provides taxpayers top quality service by helping them understand and 

meet their tax responsibilities and by applying the tax law with integrity and fairness. In FY 2021, 

Exam Efficiency - Individual (the number of 1040 return closures divided by the total Exam FTE) 

was 108, below the target of 111 and up from the FY 2020 level of 76. The IRS lowered the target 

to 100 for FY 2022 as qualified Exam staff will be reassigned to work unprecedented 

correspondence inventory levels. The FY 2023 target is 114. 

Operations Support

The Percentage of Aged Hardware measure shows the quantity of IT hardware in operation past 

its useful life as a percentage of total hardware in use. The IRS made considerable progress 

reducing the percentage of aged hardware from 16 percent at the end of FY 2020 to 9.3 percent 

at the end of FY 2021. This represents a reduction of more than 8,000 aged assets during the 

fiscal year. The major driver in exceeding this goal was the large volume of refreshed 

workstations. The industry standard for aged hardware is between 20 and 25 percent. The IRS 

will maintain that target at 20 percent for fiscal years 2022 and 2023. 

Business Systems Modernization 

In FY 2021, the IRS continued to strengthen its IT infrastructure and introduce new electronic 

services to taxpayers. Some key accomplishments were: 

• IRS Enterprise Case Management Release 1 occurred, which enhanced data analytics, 

reporting, and automation capabilities that increase productivity and efficiency; 

• Expanded the Customer Callback feature, which offers taxpayers and opportunity to choose 

between waiting for a representative or receiving a call back when an assistor is available; 

• Implemented the first phase of releasing the electronic Form 1040X enabling taxpayers to 

electronically file an amended return; and 

• Deployed the Child Tax Credit Update Portal and the Advance Child Tax Credit Eligibility 

Assistant. These systems inform users of their eligibility of the Advance Child Tax Credit, 

verify their banking and personal information, and unenroll in the tax credit. 

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 83
The IRS has navigated unexpected changes that have both challenged and accelerated 

modernization efforts—from the emergence of new technology and taxpayer expectations to 

sustaining technological resilience throughout an ongoing global pandemic. At an inflection 

point, having concluded the first phase of the six-year IRS Integrated Modernization Business 

Plan, the IRS will continue to adapt as it embraces industry-leading technology and meets 

taxpayer needs in an ever-evolving digital world. With the funding provided through the 

American Rescue Plan (ARP) Act of 2021 and other resources, the IRS has strong momentum 

behind modernization, with a clear vision for delivering near-term impact and long-term 

transformation. IRS employees are making a difference and want to continue to successfully 

pursue the mission on behalf of our country. The road ahead is full of challenges, both known 

and unknown, but we are confident that the plan, if adequately resourced, paves the way to 

providing the highest-quality service to taxpayers and the tax community.

Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 84
Office of Financial Stability 

Program Summary by Budget Activity 

Dollars in Billions 

Cumulative 

Obligated 

(as of 

11/30/2021) 

Cumulative 

Disbursed 

(as of 

11/30/2021) 

Cumulative 

Outstanding 

(as of 

11/30/2021) 

Total 

Cumulative 

Income 

(as of 

11/30/2021) 

Total Cash 

Back (as of 

11/30/2021) 

Total 

Estimated 

Life Costs 

(as of 

11/30/2021) 

Bank Support Programs 250.5 245.1 0.0 35.7 275.6 (24.2) 

Credit Market Programs 19.1 19.1 0.0 4.5 23.6 (3.3) 

AIG Investment Program (AIG) 67.8 67.8 0.0 1.0 55.3 15.2 

Automotive Industry Financing Program 79.7 79.7 0.0 7.5 70.6 12.1 

Treasury Housing Programs 32.6 31.4 0.0 0.0 0.0 32.4 

Total $449.6 $443.1 $0.0 $48.7 $425.1 $32.1 

Additional AIG Common Shares Held by 

Treasury $0.0 $0.0 $0.0 $17.6 $17.6 ($17.6)

Total for Programs and Shares $449.6 $443.1 $0.0 $66.3 $442.7 $14.6 

*If all Treasury AIG Investments are combined, we currently estimate a net gain of nearly $2.4 billion on those shares.

Administrative Account Summary 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Actual Estimated Estimated $ Change % Change 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Obligations 

TARP Administrative Account 40,789 37,637 34,333 (3,304) -8.8% 

Total Obligations $40,789 $37,637 $34,333 ($3,304) -8.8% 

Total Full-time Equivalents (FTE) 10 10 8 -2 -20.0%

Summary 

A central part of the response to the 2008 financial crisis was the implementation of the Troubled 

Asset Relief Program (TARP), which was established in the fall of 2008 under the Emergency 

Economic Stabilization Act of 2008 (EESA) (P.L. 110-343) within the Office of Domestic 

Finance at the U.S. Department of the Treasury (Treasury). TARP was created to restore the 

liquidity and stability of the financial system, and it is administered by the Office of Financial 

Stability (OFS). Since late 2010, OFS has made significant progress in winding down TARP 

investment programs and in recovering OFS’s outstanding investments. 

OFS continues to operate a housing program to help homeowners prevent avoidable 

foreclosures. However, in 2016, OFS began the wind-down of the largest TARP housing 

program, the Marking Home Affordable Program, pursuant to the Consolidated Appropriations 

Act, 2016. As of November 30, 2021, OFS has recovered more than 96 percent of the $443.1 

billion in total program funds disbursed under TARP, as well as an additional $17.6 billion from 

Treasury’s equity in American International Group, Inc. (AIG). 

In FY 2022, OFS plans to obligate just over $37 million and use no more than 10 Full-Time 

Equivalent (FTE) employees. In FY 2023, OFS plans to obligate just over $34 million and use 

no more than 8 FTE employees, a reduction of over 8% and 20%, respectively, from the current 

FY 2022 estimates, to fund the management, maintenance and continued wind-down of the 

TARP housing programs and the disposition of OFS’s remaining investments. OFS is expected 

to complete its wind-down in FY 2024. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 85
Description of Performance 

Bank Support Programs 

Capital Purchase Program (CPP) 

OFS created CPP, its largest program, in October 2008. OFS provided a total of $204.9 billion 

in capital to 707 institutions in 48 states. During FY 2021, OFS continued to wind-down 

remaining CPP investments. As of November 30, 2021, CPP has generated $226.4 billion in 

recoveries for taxpayers with one institution remaining in the program, for a total of $12 million 

in investments outstanding. 

Community Development Capital Initiative (CDCI) 

OFS created CDCI on February 3, 2010, to provide investments of capital to certified 

Community Development Financial Institutions (CDFI) banks, thrifts, and credit unions. OFS 

invested $570 million in 84 CDFIs, of which 28 institutions converted $363 million (including 

warrants) from CPP to CDCI. As of November 30, 2021, CDCI has generated $592 million in 

recoveries for taxpayers with two institutions remaining in the program, for a total of $1 million 

in investments outstanding. 

Housing Programs 

OFS established several TARP housing programs, assisting millions of homeowners and 

introducing reforms for the mortgage servicing industry to facilitate mortgage modifications. 

Making Home Affordable Program (MHA) 

In 2009, OFS launched MHA to help homeowners prevent avoidable foreclosures and strengthen 

the housing market. The cornerstone of MHA is the Home Affordable Modification Program 

(HAMP), which provides eligible homeowners the opportunity to reduce their monthly mortgage 

payments. In accordance with provisions of the Consolidated Appropriations Act, 2016 (the 

Act), MHA terminated on December 31, 2016, except with respect to certain applications made 

before such date. MHA servicers were required to design policies and procedures to reasonably 

ensure that all MHA transactions were completed by December 1, 2017. As of November 30, 

2021, OFS had disbursed $21.9 billion out of a possible $22.9 billion under MHA. 

Housing Finance Agency (HFA) Hardest Hit (HHF) Fund 

Established in 2010 to provide aid to homeowners in states hit hardest by the economic and 

housing market downturn. The $7.6 billion initiative encompassed 18 states and the District of 

Columbia (DC). In December 2015, the Act granted Treasury authority to make an additional 

$2.0 billion in commitments through the HHF. As of November 30, 2021, OFS had disbursed 

$9.5 billion out of a possible $9.6 billion under HHF. 

Federal Housing Administration (FHA) - Short Refinance Program 

OFS continues to support the FHA Short-Refinance Program, which was intended to assist 

borrowers with negative equity. The program has seen limited participation. As such, OFS has 

incrementally reduced the LOC Facility supporting this program from an initial $8.0 billion to 

$27 million in FY 2017, which matches OFS’s maximum liability for loans covered by the 

program as of December 31, 2016, when the program ended for new refinances. As of 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 86
November 30, 2021, the revised lifetime cost estimate for the program was $13 million for 

outstanding refinanced loans. 

Other Programs 

Automotive Industry Financing Program (AIFP) 

OFS fully wound down AIFP during FY 2015, selling its remaining stake in Ally Financial. 

OFS disbursed $79.7 billion in loans and equity investments to the automotive industry through 

the AIFP. As of November 30, 2021, OFS had collected $70.6 billion through sales, repayments, 

dividends, interest, recoveries, and other income. Recoveries from the bankruptcy liquidation of 

Old Chrysler and Old GM remain possible. 

All other TARP programs closed prior to FY 2016, including the Targeted Investment Program, 

Asset Guarantee Program, Public-Private Investment Program, Term Asset-Backed Securities 

Loan Facility, Small Business Administration 7(a) Securities Purchase Program, and AIG 

Investment Program. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 87
Department of the Treasury - Budget in Brief 88
Office of Financial Research 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to 

FY 2023 

Budget Activity Actual Estimate Estimate % Change 

Data Center $3,033 $4,045 $5,630 39.2% 

Technology Center $40,743 $38,320 $40,909 6.8% 

Research and Analysis Center $8,692 $15,184 $20,413 34.4% 

Operations and Support Services $18,066 $20,945 $21,160 1.0% 

Total Cost of Operations $70,534 $78,494 $88,112 12.3% 

Full-time Equivalents (FTE) 111 143 163 14.0% 

Summary 

The Office of Financial Research (OFR or Office) is estimating a fiscal year (FY) 2023 funding 

level of $88.112 million, which is $9.618 million higher than its FY 2022 estimated funding 

level. The FY 2023 Budget includes increases in funding for the Data Center, Technology 

Center, Research and Analysis Center (RAC), and Operations and Support Services. The 

increased funding reflects the resources required to effectively execute emerging research, 

monitoring, and data priorities in support of the OFR’s legislative mandate under the DoddFrank Wall Street Reform and Consumer Protection Act of 2010 (P.L. 111-203). It also provides 

for the corresponding technology and operations infrastructure needed to execute that mission 

work. 

Budget Highlights 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 89
Maintaining Current Levels (MCLs) ......................................................+$2,124,000 / +0 FTE 

Pay Annualization +$323,000 / +0 FTE 

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

Pay Raise +$970,000 / +0 FTE 

Funds are requested for anticipated increases to labor costs to include merit pay increases for 

qualifying staff. 

Non-Pay +$831,000 / +0 FTE 

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

equipment. 

Non-Recurring Costs................................................................................-$1,360,000 / +0 FTE 

Non-Recurring Costs -$1,360,000 / +0 FTE 

This efficiency adjustment stems from the execution of non-recurring facilities improvements in 

FY 2022, associated with reentry planning and lease renewal activities. 

Program Increases................................................................................ $8,854,000 / +20 FTE 

Research and Analysis Center $4,793,000 / +9 FTE 

This program increase is driven by new work requirements in support of the Financial Stability 

Oversight Council (FSOC) and the Administration’s emerging priorities: short-term funding 

markets, asset management/hedge fund monitoring, environmental risks, digital 

assets/cryptocurrencies, and cybersecurity. It responds to growing demands for research on 

financial stability, especially risks and vulnerabilities in areas not previously requested from our 

external stakeholders. This includes research related to uncleared bilateral repurchase agreement 

(repo) data and revitalizing a research grants program to drive high-impact research and analysis 

in research areas outside of traditional finance and economics disciplines. 

Technology Center $1,582,000 / +5 FTE 

This program increase is driven by new work requirements in support of a secure cloud 

environment, plus data and dataset management. It responds to: 

 Emerging cybersecurity needs, ensuring an ability to meet evolving demands for secure, 

cloud-based infrastructure. 

 Increasing demands for data sharing and data product functionality and support from internal 

and external stakeholders. This includes the development and maintenance of a climaterelated data and analytics hub serving multiple stakeholder groups. 

 Pursuit of research related to uncleared bilateral repo data and potentially subsequent data 

product work. This scales support for potentially collecting, maintaining, and using the new 

data and related products. 

Data Center $1,453,000 / +2 FTE 

This program increase is driven by new work requirements in support of the OFR’s data 

products, including financial monitors, and responds to: 

 Expanding requirements associated with the statutorily-mandated Financial Instrument 

Reference Database (FIRD). The FIRD was initially mandated within the Dodd Frank Act. 

Increased funding herein supports the analysis and integration of new reference data into the 

on-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 90
FIRD, based on emerging X9D1

 Industry Forum recommendations that will inform the future 

shape of the FIRD. 

 Higher than anticipated workloads for monitor production, review, and publication due to 

rapidly changing market conditions, limited data availability, and varying levels of data 

quality. This supports the development of a framework that defines a path from conception 

to production for machine learning products, performing exploratory data analysis for the 

development of new data visualizations, and increasing the interpretability of complex 

financial data. 

 Increasing demands for data sharing and data product functionality and support from internal 

and external stakeholders. This includes the development and operation of a climate-related 

data and analytics hub serving multiple stakeholder groups. An updated Climate Data Hub 

would serve additional FSOC stakeholders beyond the Federal Reserve Board and Federal 

Reserve Bank of New York in FY 2023. 

 Growing standards work initiatives raised by OFR’s global and domestic partners. This 

increase responds to the increased engagements with the Department of the Treasury’s Office 

of International Financial Markets in the financial standards work of the OFR and the FSOC. 

Operations and Support Services $1,026,000 / +4 FTE 

This program increase stems from process and program improvement efforts begun in FY 2021, 

which enhanced the effectiveness of the OFR’s operational functions. This included focused 

service improvements for strategic planning, resource management, risk management, and 

organizational performance measurement and monitoring, as well better use of data for decision 

making through improved tools and visualizations. 

Legislative Proposals 

The OFR has no legislative proposals. 

Performance Highlights FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Data Center 

Number of Legal Entity Identifiers 

Issued Cumulatively in the United 

States and Internationally 

1,487,695 1,733,473 

 

1,941,554 

 

I I 

Data Center 

Number of Times That Financial 

Data Standards are Incorporated in 

Rules and Regulations 

1 3 2 I I 

Key: I – Indicator

Description of Performance 

While promotion of the Legal Entity Identifier (LEI) remains a foundational standards focus for 

the OFR, the Data Strategy and Standards (DSS) team continues to play a leading role in the 

development of international consensus for, and governance of, vital identifiers for products, 

transactions, and the data elements critical to derivatives market reporting and regulation. 

Throughout FY 2023, the team will identify and analyze data standards gaps and the potential to 

fill them. Specific engagements include contributing to the further development of the Natural 

Person Identifier (ISO 24366), a new standard of the International Organization for 

1

X9D is a Subcommittee of the Accredited Standards Committee X9, accredited by the American National 

Standards Institute to develop and maintain voluntary consensus standards for the financial services industry. 

on-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 91
Standardization. This standard provides specifications to uniquely identify the natural person 

relevant to any financial transaction. In addition, DSS will continue providing Secretariat 

support for the Regulatory Oversight Committee (ROC), delivering expert knowledge of 

standards and service to its members. 

The DSS team also leads the standards development of the Financial Instrument Reference 

Database (FIRD) and will conduct analysis and validation of open datasets for use in future 

phases of the FIRD. This includes identifying industry data standards requirements obtained 

from the X9 Industry Forum for Financial Terms Harmonization and integrating new 

functionality into the OFR’s FIRD. This effort will be conducted in the X9 Industry Forum for 

Financial Terms Harmonization, with OFR as Chair. 

on-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 92
Financial Stability Oversight Council 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Actuals Revixeed 

Estimate 

Revsed 

Estimate $ Change % Change 

FSOC $4,996 $7,567 $7,933 $366 4.83% 

FDIC $4,451 $3,254 $4,500 $1,246 38.29% 

Total Cost of Operations $9,447 $10,821 $12,433 $1,612 15% 

Direct FTE 15 23 27 4 17.39% 

Total Full-time Equivalents (FTE) 14 23 27 4 17.39% 

Summary 

The Financial Stability Oversight Council (FSOC or Council) anticipates a fiscal year (FY) 2023 

funding level of $12.433 million, including $7.933 million for the FSOC Secretariat and the 

Office of the Independent Member with Insurance Expertise, and $4.500 million to reimburse the 

Federal Deposit Insurance Corporation (FDIC) for certain expenses, as required by law. Of the 

$1.612 million overall increase from the FY 2022 estimated funding level, the increase to the 

FDIC reimbursement represents $1.246 million or 77 percent of this total. The increase reflects 

the need for the FSOC Secretariat to rebuild capacity and acquire resources to fulfill ongoing 

responsibilities and advance the Council’s priorities. These focus areas include: 1) nonbank 

financial intermediation; 2) Treasury market resilience; 3) climate-related financial risk; and 4) 

digital assets.

Budget Highlights

Dollars in Thousands 

FTE Amount 

FY 2022 Estimate 23 $10,821 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $306 

Pay Annualization (2.7% average pay raise) 0 $28 

Pay Raise (4.6% average pay raise) 0 $144 

Non-Pay 0 $133 

Subtotal Changes to Base 0 $306 

FY 2023 Current Services 23 $11,127 

Program Changes: 

Program Increases: 4 $1,306 

FSOC Priority Workstream Hiring 4 1,220 

Strengthen DO Equity, Cybersecurity, IT, and facilities infrastructure 0 86 

FY 2023 Estimate 27 $12,433 

Budget Adjustments 

Maintaining Current Levels (MCLs) ..........................................................+$306,000 / +0 FTE 

Pay Annualization (2.7%) +$28,000 / +0 FTE 

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

Pay Raise (4.6 % in FY 2023) +$144,000 / +0 FTE 

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

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 93
Non-Pay +$133,000 / +0 FTE 

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

and equipment. 

Program Increases ......................................................................................+$1,306,000/ +4 FTE 

FSOC Priority Workstream Hiring +$1,220,000 / +4 FTE 

The FSOC Secretariat intends to increase its long-term staffing plan to 27 by four staff members. 

Preliminary work has already begun on the Council’s new initiatives, including work on 

measuring and mitigating climate-related financial risk and on understanding the potential 

financial stability risks posed by nonbank financial intermediaries. Together with staff at FSOC 

member agencies and other members, the FSOC Secretariat staff established the Council’s 

Hedge Fund Working Group (HFWG) and the Open-End Funds Working Group (OEFWG) and 

also published the Council’s Report on Climate-Related Financial Risk in 2021. The Council 

also announced plans to establish two new committees to support the Council’s climate-related 

efforts, which the FSOC Secretariat will support along with the Council’s other existing 

committees. These priorities reflect the effort required in addition to core responsibilities such as 

publishing the annual report and advancing financial stability monitoring work. 

Strengthen Departmental Offices (DO) Equity, Cybersecurity, IT, and facilities infrastructure 

+$86,000 / +0 FTE 

This funding also includes FSOC’s costs associated with Treasury’s internal equity programs, 

including growing recruitment pipelines to diverse talent and improving support and analysis of 

equity programs geared at the existing workforce. 

This effort supports Equal Employment Opportunity (EEO) efforts as required in Executive 

Orders 13985, 13988, and 14035. 

This request also provides for FSOC’s portion of funding for a Treasury funding for non-capital 

investments. These ensures costs avoid diverting DO resources away from programmatic needs. 

The funding will also support Treasury’s strengthening of cybersecurity, consistent with 

heightened risks. 

Legislative Proposals 

The FSOC has no legislative proposals. 

Description of Performance 

There are no measures specified for managing Council performance. The FSOC’s annual reports 

and other public documents provide information to the public relevant to the Council’s 

performance. Information on the Council is provided on www.treasury.gov, www.fsoc.gov. 

Performance documents for FSOC member agencies can also be found on their respective 

websites to provide transparency and accountability. 

On December 17, 2021, the Council published its annual report. The report describes activities of 

the Council over the past year, as the U.S. economy has continued to rebound from the 

disruptions caused by the COVID-19 pandemic. Additionally, the Council’s annual report 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 94
describes significant financial market and regulatory developments, potential emerging threats to 

U.S. financial stability, and recommendations to promote U.S. financial stability. The report was 

developed collaboratively by members of the Council and their agencies and staffs. 

Certain FDIC expenses for rule writing and resolution planning are treated as expenses of the 

Council. By law, the Council’s expenses include reimbursement of reasonable implementation 

expenses incurred by the FDIC in implementing Orderly Liquidation Authority. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 95
Department of the Treasury - Budget in Brief 96
Treasury Franchise Fund

Program Summary by Budget Activity

Dollars in Thousands

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023

Budget Activity Actuals

Revised 

Estimate Estimate $ Change % Change

Treasury Shared Services Program 356,934 314,318 326,772 14,427 3.96%

Centralized Treasury Administrative Services 131,449 146,043 160,151 10,645 9.66%

Administrative Support Services 208,491 191,029 205,796 16,452 7.73%

Information Technology Services 196,417 214,837 220,606 4,197 2.69%

Subtotal, Treasury Franchise Fund $893,291 $866,227 $913,325 $45,721 5.44%

Offsetting Collections - Reimbursable 838,745 806,022 857,079 51,057 6.33%

Recovery from Prior Years 14,000 13,000 13,000 -1,201 0.00%

Unobligated Balances Brought Forward 168,000 123,946 137,008 -17,385 10.54%

Total Program Operating Level $1,020,745 $942,968 $1,007,087 $32,471 6.80%

Reimbursable FTE 2,036 2,212 2,209 65 -0.14%

Total Full-time Equivalents (FTE) 2,036 2,212 2,209 65 -0.14%

*The Financial Management Administrative Support Service and Shared Services Programs, as denoted in the President’s budget is also

referred to as the Administrative Services and Treasury Shared Services Program, respectively.

Summary

The Treasury Franchise Fund (TFF) supports effective administrative and information 

technology services through commitment to service, efficient operations, openness to change, 

and values-based behavior. The TFF achieves cost savings leveraging economies of scale which 

promote efficient use of resources by shared service providers.

The TFF providers include Departmental Offices’ Treasury Shared Services Programs (TSSP), 

Departmental Offices’ Centralized Treasury Administrative Services (CTAS), and the Bureau of 

the Fiscal Service’s Administrative Resource Center (ARC). TFF shared service providers offer 

financial management, procurement, travel, human resources, information technology, and other 

administrative services to federal customers on a fully cost recoverable, fee-for-service basis.

The TFF FY 2023 Congressional Budget Justification reflects revised estimates for FY 2022 

along with new funding estimates for FY 2023. The revised estimates in FY 2022 for ARC 

Administration (Admin) includes an increase in resources to meet critical workforce demands for 

increased hiring and related human resource actions to help Bureaus and Offices achieve 

missions and priorities. The revised estimates also include a reduction in resources needed in 

ARC Information Technology’s (IT) planned operations and maintenance support because of 

efficiency gains realized from modernizations efforts to transition to cloud and low-code 

solutions for applications and services. Additionally, the FY 2022 revised estimates include a 

decrease in CTAS resources due to deferment of IT modernization investments. 

In FY 2023, TSSP will continue to support efforts in cybersecurity with the additional 

transferred operations and maintenance costs for initiatives developed under the Cybersecurity 

Enhancement Account (CEA). These cybersecurity initiatives will be deployed and 

implemented as a shared service to support enterprise-wide services and capabilities to 

strengthen the cybersecurity posture across the components of the Department of Treasury. 

Additionally, TSSP and CTAS programs will also support efforts related to the Secretary’s 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 97
priorities associated with IT Modernization and Advancing Equity in Treasury Programs. 

In FY 2023, ARC Admin will complete foundational initiatives from the business transformation 

effort (“oneARC”) and begin realizing operational efficiencies. The effort will simplify customer 

financial management (FM) services, increase customer FM maturity and public trust, and 

maximize ARC value. 

Budget Highlights

Dollars in Thousands

FTE Amount

FY 2022 Original Estimate 

 

2,219 $893,144

Adjustments to FY 2022 Original Estimate (7) ($11,979)

Deferred IT System Modernization and Investments (CTAS)1 (27) ($8,497)

Increased Personnel Resources/IT Modernization (ARC Admin/IT) 20 ($3,482)

FY 2022 Revised Estimate

 

2,212 $881,165

Changes to Base: 

Maintaining Current Levels (MCLs):

 

$23,695 

Pay Annualization (2.7% average pay raise) $1,832 

Pay-Raise (4.6% average pay raise) $9,429 

Non-Pay $12,434 

Subtotal Changes to Base

 

$23,695 

FY 2023 Current Services 2,212 $904,860

Program Changes:

Program Increases: 10 $24,254 

Cybersecurity Enhancement Account (CEA) Operations and Maintenance (TSSP) 4 $1,120 

IT Systems Modernization and Program Support (TSSP) 3 $3,386 

Advancing Equity in Treasury Programs (TSSP) 3 $515 

IT System Modernization (CTAS) 0 $13,835 

Cyber Infrastructure (CTAS) 0 $3,398 

Facilities Infrastructure (CTAS) 0 $2,000 

Program Decreases: (13) ($10,003)

Business Transformation Efforts (ARC Admin) (13) ($10,003)

Subtotal Program Changes

 

(3) $14,251

FY 2023 Estimate

 

2,209 $919,111 1

In FY 2022, Centralized Treasury Administrative Services reflects an additional reduction to FTE levels from the amounts 

presented in the President’s budget. This is due to the extended continuing resolution (CR).

Budget Adjustments

Adjustments to FY 2022 Original Estimate .................................... -$11,979,000 /-7 

FTE

Deferred IT System Modernization and Investments (CTAS) -$8,497,000/ -27 FTE

The revised CTAS FY 2022 estimate includes adjustments to decrease labor and non-labor 

estimates from the FY 2022 original estimate. Due to the extended continuing resolution (CR) in 

FY 2022, the customers within Departmental Offices (DO) are unable to fund key initiatives 

proposed in the FY 2022 Budget, including server replacements and modernization to end user 

hardware and software. Those investments in the Departmental Offices are re-proposed in the FY 

2023 CTAS estimates.

Increased Personnel Resources/IT Modernization (ARC Admin/IT) -$3,482,000 / +20 FTE 

ARC Admin - Increased Personnel Resources +2,851,000 / +22 FTE 

Revised FY 2022 estimates includes adjustments for additional resources to meet critical 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 98
workforce demands for classification and staffing services provided to customers. As the hiring 

volumes of customers has recovered from the FY 2017 Federal hiring freeze, this resource level 

will provide the necessary support to alleviate delays for the delivery of critical hiring needs 

within targeted service levels. 

ARC IT - IT Modernization -$6,333,000 / -2 FTE

In FY 2022, efficiency gains are realized as ARC IT modernizes and moves to cloud and lowcode solutions for applications and services. Additionally, the reduction of custom platforms has 

also allowed for rightsizing of licensing and maintenance contracts resulting in cost avoidance 

for the fiscal year. 

Maintaining Current Levels (MCLs)......................................... +$23,695,000 / +0 FTE 

Pay Annualization (2.7%) +$1,832,000 / +0 FTE: 

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

Pay Raise (4.6% in 2023) +$9,429,000 / +0 FTE: 

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

Non-Pay +$12,434,000 / +0 FTE 

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

equipment. 

Program Increases.............................................................. +$24,254,423 / +10 FTE 

Cybersecurity Enhancement Account (CEA) Operations and Maintenance (O&M) (TSSP)

+$1,120,000 / +4 FTE 

The TSSP supports the transition of additional O&M costs from CEA for cybersecurity 

enhancements and capabilities that will be deployed enterprise wide. Since FY 2020, the total 

O&M costs transitioned into TSSP is $16.75 million, including this increase. The following 

initiatives will transition in this fiscal year:

• CEA High Value Assets Staffing Transition (+$890,000 / +4 FTE) 

• PhishMe Licenses and PhishMe Triage (+$230,000 / +0 FTE) 

Systems Modernization and Program Support (TSSP) +3,386,056 / +3 FTE 

Treasury will increase spending for program support and IT system modernization for 

enhancements across TSSP programs to include:

• O&M and sustainment costs for applications across the Enterprise Business Solution 

Programs (+$1,368,196)

• IT systems program and contractor support (+$825,260 / +3 FTE) 

• Cloud adoption and transition for financial reporting applications (+$692,600 / +0 FTE) 

• Enterprise cost for the new Line-of-Business for the Federal Executive Boards program 

support the advancement of the Administration’s objectives and strengthen the Federal 

workforce (+$500,000 / +0 FTE) 

• Management support for enterprise-wide data collections efforts (+$350,000 / +0 FTE)

Advancing Equity in Treasury Programs (TSSP) +$514,705 / +3 FTE 

To further the priorities and objectives set forth by the Treasury Secretary, the TSSP will support 

efforts across the shared services programs to advancing equity for Federal employees. These 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 99
efforts include the development of new diversity and inclusion curriculum within Treasury’s 

Executive Institute. Resources will also support expanded program support for the Offices of 

Civil Rights and Diversity and Equal Employment Opportunity (EEO). 

IT Systems Modernization (CTAS) +$13,835,662 / +0 FTE

Departmental Offices (DO) IT Modernization investment will support increased spending for 

critical lifecycle equipment upgrades and enhancements to modernize the DO IT infrastructure 

and IT server replacements. 

DO IT Infrastructure Modernization

1. End User Equipment Lifecycle – Asset refresh of end-of-life end equipment (i.e., laptops, 

desktops, zero clients, etc.) and migrate to cloud services 

2. Telework Workforce Enhancements – Hardware and software to support efficiency and 

mission achievement in telework paradigm 

3. Video Teleconferencing – Increased software licenses, support, and services for DO web 

conferencing 

4. Managed Remote Access - Transition from government owned and operated to managed 

service remote access for DO user community 

5. Managed Desktop/Virtual Desktop Infrastructure (VDI) - Transition from government owned 

and operated virtual desktop infrastructure to managed service 

DO IT Server Replacement

In FY 2023, Treasury will replace IT servers that have reached end of life. These servers support 

the majority of IT operations and the daily workload within DO. By FY 2023, over 120 of these 

critical servers will no longer receive vendor support or updates, which put critical IT 

components at risk of failure or breach. Cloud migration assessments for have been conducted 

for these servers and results have helped to identify opportunities to transition to cloud services 

for most servers. Re-capitalization of servers represents most of the costs incurred. 

Cyber Infrastructure (CTAS) +$3,398,000 / +0 FTE

DO must invest in cyber protections commensurate with the risks incurred in Treasury’s efforts 

to safeguard the financial sector, U.S. economy and in combating cybercrimes. DO investments 

will enhance Treasury’s ability to protect the cyber infrastructure and respond to major cyber 

incidents. Investments will also include Microsoft FedRAMP High Government Community 

Compliance (GCC) licenses, which have been a key component of Treasury’s response to 

SolarWinds. This includes enhanced security controls, monitoring, and threat protection, as well 

as improved data and identity management. These new capabilities are crucial to protect the 

3,000 users within DO from potential ransomware. 

Facilities Infrastructure (CTAS) +$2,000,000 / +0 FTE 

This request also provides funding for a repairs and improvements account within DO. Historic 

office buildings like Treasury’s are expected to have costs near $3 per square foot per annum. 

Based on that benchmark the costs for maintaining buildings of the size of Main Treasury (MT) 

and Freedman’s Bank Building (FBB) Treasury Facilities would be approximately $2M in 

funding annually. Treasury’s current funding level is approximately $450K. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 100
Program Decreases...............................................................-$10,003,000 / -13 FTE 

Business Transformation Efforts (ARC Admin) -$10,003,000 / -13FTE

In FY 2023, ARC anticipates realized results from the business transformation related to the 

oneARC initiative in FY 2022. This initiative focused on foundational enhancements to business 

operations. The decrease reflects a $7,555 reduction in initiative spending and estimates 

efficiency gains related to oneARC, to include $2,448 and 13 FTE. 

Legislative Proposals 

The TFF has no legislative proposals. 

Performance Highlights 

FY 2019 FY 2020 FY 2021 FY 2022 FY 2023

Budget Activity Performance Measure Actual Actual Actual Target Target

Treasury Shared Services 

Programs Average Cost per FTE $1,463.50 $1,719.40 $1,805.70 $1,710.50 $1,710.50

Treasury Shared Services 

Programs Annual Effective Spend Rate (%) 97 98 98 96 96

Treasury Shared Services 

Programs Customer Satisfaction (%) 75 90 93 80 80

Centralized Treasury 

Administrative Services Annual Effective Spend Rate (%) 98 94 98 96 96

Centralized Treasury 

Administrative Services Customer Satisfaction (%) 75 75 83 80 80 

Administrative Support 

Services Customer Unmodified Audit Opinions (%) 100 100 100 100 100

Administrative Support 

Services 

Percentage of shared services service level 

agreement performance metrics met or 

exceeded (%)

89 87 90 94 94

Administrative Support 

Services

Customer Satisfaction with ARC Admin 

Services (%) 93 90 90 80 80

Information Technology 

Services

Parentage of IT Portfolio (TFF) Software 

and Hardware Currency (%) N/A N/A B 75 85

Information Technology 

Services

Percentage of On-Premise Target Service 

Level Agreements Met (%) N/A N/A B 80 80

Key: N/A – Not Applicable, B -Baseline

Description of Performance

The TSSP annual effective spend rate relates to the financial management and oversight of the 

program. It measures how much of the resources collected from customers are being obligated 

for service delivery in the fiscal year. This measure captures the efficient use of resources by the 

service providers. In FY 2021, 98 percent of the funds collected from customers for the shared 

services was obligated which was above the 96 percent target rate set for the fiscal year. The 

target will remain at 96 percent for FY 2022 and FY 2023. 

In FY 2021, the survey results yielded a 93 percent overall customer satisfaction rating which is 

up from 80 percent in the prior year for services provided through the TSSP. Strategic 

partnerships with TSSP governance councils, meeting monthly with Treasury budget directors 

and the use of the TSSP Roadshows provides expanded customer engagement opportunities to 

the various stakeholders to better communicate the expected changes to program budgets and the 

impact to their upcoming service level agreements. This level of transparency has contributed to 

the higher rating. The target for this measure is set at 80 percent for both FY 2022 and 2023. 

The CTAS FY 2021 annual effective spend, and customer satisfaction rates were 98 and 83 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 101
percent respectively. Each measure result was above the set targets. The targets set for the 

annual effective spend rate and customer satisfaction measures are mirrored after the TSSP target 

to maintain consistency in overall financial management of the two shared services providers 

within Departmental Offices. The targets set in both FY 2022 and 2023 is 96 and 80 percent, for 

the annual effective spend rate and customer satisfaction measures respectively.

In FY 2021, ARC Admin received strong customer satisfaction scores and 18th consecutive 

unmodified audit opinion. Despite missing the target for the percentage of shared services 

service level agreements performance metrics, ARC Admin continues to work with customer 

agencies to understand the changes thereby enabling them to align resources to support the 

demand. The FY 2022 and 2023 targets will remain unchanged. 

In FY 2021, ARC IT established a baseline for software/hardware currency and on-premises 

target service level agreements (SLA) met. The goal of these new measures is to reduce the use 

of End of Life (EOL) technology, which in turn further minimizes technical debt and risk for our 

customers, and measure how well technical teams are performing and closing out the requests 

and incidents. The FY 2022 and 2023 targets reflect operational commitments to customers and 

allows room for improvement. 

This year, TFF is working to align budget activities and performance measures to the new 

objectives in the Treasury FY 2022 – 2026 Strategic Plan. This work will include benchmarking 

performance and may result in changes to performance measures in the FY 2024 budget. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 102
Treasury Forfeiture Fund 

Program Summary by Budget Activity

Summary 

The Treasury Executive Office for Asset Forfeiture (TEOAF) administers the Treasury Forfeiture 

Fund (the Fund), which is the receipt account for deposit of non-tax forfeitures made pursuant to 

laws enforced or administered by participating Department of the Treasury and Department of 

Homeland Security agencies. The Fund was established in 1992. The enabling legislation for the 

Fund (Title 31 U.S.C. 9705) defines the purposes for which Treasury forfeiture revenue may be 

used. 

Explanation of TEOAF Spending Categories 

Mandatory Obligations ($462,060,000 from revenue/offsetting collections)

Mandatory Obligations are incurred to meet the operating costs of the Fund, including expenses 

of storing and maintaining seized and forfeited assets, valid liens and mortgages, investigative 

expenses incurred in pursuing a seizure, information and inventory systems, remissions, victim 

restoration, and certain costs of local police agencies incurred in joint law enforcement operations. 

Following seizure, equitable shares may be paid to state and local law enforcement agencies that 

contributed to the seizure activity at a level proportionate to their involvement. 

TEOAF allocates significant resources to supporting seizure cases in which the seized assets 

represent the proceeds of fraud schemes. The resulting forfeiture deposits are used to compensate 

the victims (entities or individuals) defrauded by the violators. Prioritizing support of these cases 

is particularly important now due to the volume of COVID-19 related financial fraud, network 

intrusion, phishing and sales of counterfeit vaccines and COVID treatments online and via 

Darknet marketplaces. TEOAF provides funding to allow its participating agencies to meet 

unanticipated needs created by COVID-19 related crimes, to ensure that the agencies have the 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 103
resources to target and intercept these massive schemes and return the money to the defrauded 

government agencies, private entities and individuals. 

Secretary's Enforcement Fund ($35,000,000 from revenue/offsetting collections) 

Secretary's Enforcement Fund (SEF) represents revenue from equitable shares received from 

Department of Justice (DOJ) or U.S. Postal Service (USPS) forfeitures. These shares are 

proportional to Treasury’s participation in the overall investigative effort that led to a DOJ or USPS 

forfeiture. SEF revenue is available for federal law enforcement related purposes of any law 

enforcement organization participating in the Fund. 

Strategic Support ($100,000,000 from revenue/offsetting collections) 

Strategic Support authority, established in 31 U.S.C. 9705(g)(4)(B), allows TEOAF to fund 

priority Federal law enforcement initiatives with remaining unobligated balances at the close of 

the fiscal year, after an amount is reserved for the next fiscal year’s operations. 

Contingent Liabilities ($550,000,000 revenue/offsetting collections) 

Contingent liabilities represent the known future equitable sharing, remission, refund, and 

mitigation payments. TEOAF tracks future remission payments to third parties as contingent 

liabilities. However, these amounts are not recorded as obligations from the Fund until the 

Department of Justice grants the petition for remission. The third parties are predominantly victims 

of crimes that triggered the forfeiture (e.g., Ponzi scheme or kleptocracy victims). Amounts 

recorded are significant because remission payments from multiple years are recorded and carried 

forward. The amounts change constantly as payments are made and amounts for new remission 

cases are added. TEOAF considers the amounts recorded as contingent liabilities as unavailable 

and consideration of contingent liabilities provides a more accurate representation of the financial 

position of the Fund. 

Legislative Proposals 

TEOAF has no legislative proposals. 

Performance Highlights 

Description of Performance 

($597,060,000 in obligations from revenue/offsetting collections): 

TEOAF continues to measure the performance of the participating law enforcement bureaus 

through the percent of forfeited cash proceeds resulting from high impact cases which are cases 

resulting in a cash forfeiture deposit equal to or greater than $100,000. 

The high-impact cases are cases that pursue major criminal targets and their financial networks, 

and therefore are central to the mission of disrupting and dismantling criminal enterprises. At the 

same time, these cases are heavily dependent on TEOAF’s funding due to their high operational 

costs and reliance on sophisticated technologies and analytical tools that are not adequately 

Budget Activity FY 2019 

Actual

FY 2020 

Actual

FY 2021 

Actual

FY 2022 

Target

FY 2023 

Target

Asset Forfeiture 90.8 82.87 89.65 80 80

Performance Measure

Percent of Forfeited Cash Proceeds 

Resulting from High-Impact Cases

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 104
covered by the funds appropriated for operations. The dominant share of high-impact forfeitures 

reflects TEOAF’s effectiveness in supporting such major investigations. 

While the specific numbers shown in the chart fluctuate due to the unusually big forfeitures, the 

consistently dominant (80 percent or more) share of major forfeiture year after year demonstrates 

TEOAF’s consistent commitment to supporting high-impact cases. Member law enforcement 

bureaus participating in the Fund have met or exceeded the performance target since FY 2014. 

For FY 2022 and FY 2023, the target will remain at 80 percent. The Fund maintains a target of 80 

percent as an appropriate measure of the effectiveness of the Fund support of the participating law 

enforcement agencies efforts to meet TEOAF’s mission to disrupt and dismantle criminal 

enterprises.

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 105
Department of the Treasury - Budget in Brief 106
Bureau of Engraving and Printing 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Actual Revised 

Estimate Estimate $ Change % Change 

Manufacturing $1,214,856 $1,069,911 $1,142,803 $72,892 6.81% 

DC Replacement Facility 33,875 11,769 897,048 $885,279 7522.13% 

Total Cost of Operations $1,248,731 $1,081,680 $2,039,851 $958,171 88.58% 

Full-time Equivalents (FTE) 1,832 1,863 1,863 0 0.00% 

Summary 

The mission of the Bureau of Engraving and Printing (BEP) is to develop and produce United 

States currency notes trusted worldwide. BEP supports Treasury’s Strategic Goal 2: Enhance 

National Security, Goal 3: Financial Systems Vulnerabilities, Goal 4: Combat Climate Change, 

and Goal 5: Modernize Treasury Operations. 

BEP’s FY 2023 President’s Budget request funds the following projects: 

1. Washington, DC Replacement Facility: In FY 2019, BEP received legislative authority to

acquire land and fund construction of a more efficient production facility to replace BEP’s

current aging Washington, D.C. facility. Additionally, a provision in the Agriculture

Improvement Act of 2018 (P.L. 115-334) authorized the transfer of a U.S. Department of

Agriculture (USDA) land parcel in Beltsville, Maryland to the Department of the Treasury to be

the site for BEP’s replacement production facility. The property transfer Memorandum of

Agreement between USDA and Treasury was finalized in early 2020. The formal transfer of

administrative control from USDA to Treasury is expected to occur in 2022. The FY 2023

current estimate includes $12M in base funding and $885M in increase funding for a total of

$897M for the next phase of the replacement facility project which was originally planned for

FY 2022. In 2021, BEP began early site development construction activities estimated at $33

million to include the removal of hazardous building materials, demolition of twenty-two former

agriculture research buildings and minor utility system relocations to support the BEP

development. BEP’s final environmental impact statement was issued in FY 2021. A

replacement facility will save an estimated $579 million over 10 years, as compared to the cost

of the renovation of the existing facility. In addition, BEP will reduce its annual operating costs

by at least $38 million through production, material handling, and other operational/support

efficiencies.

2. Western Currency Facility Expansion: BEP began expanding the Western Currency

Facility (WCF) in FY 2018 to house and support the new equipment required for the next

generation of currency design. Producing the next family of updated notes requires that BEP

purchase and install new production equipment to support the new designs. The expansion will

provide the space and infrastructure necessary to successfully meet the production requirements

of the next family of U.S. currency banknotes that focus on the integration of strong, new

security features. The expansion work continued though FY 2022. BEP anticipates additional

costs related to contract overhead and material price escalation in FY 2023. The project

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 107
completion date has been extended to FY 2023 mainly due to unforeseen site conditions, 

electrical issues, and weather delays. 

3. Banknote Design and Development: In FY 2023, BEP will continue to work on this multiyear project with the Federal Government’s Advanced Counterfeit Deterrent (ACD) Steering 

Committee to develop improved security features for the next family of updated notes. The 

ACD Committee is an inter-agency group established to monitor and explore existing 

and emerging technologies to deter counterfeiting and a raised tactile feature to provide 

meaningful access to blind and visually impaired individuals. The committee includes 

representatives from BEP, the Department of the Treasury, the U.S. Secret Service, and the FRB. 

The updated notes will focus on innovative banknote security and anti-counterfeit technology 

that will enhance and ensure the security and integrity of U.S. currency. While many factors are 

taken into consideration when updating currency, the primary purpose for updating notes is to 

improve the security of U.S. banknotes and ensure they maintain their position as being trusted 

worldwide. The current note release sequence is as follows: $10, $50, $20, $5, $100. 

4. Retooling: BEP is conducting a multi-year effort to retool its manufacturing processes with 

state-of-the-art intaglio printing presses, electronic inspection systems, and finishing equipment. 

To ensure that BEP will meet the annual currency order, the FRB and BEP developed short, 

medium, and long-term strategic equipment replacement plans for the U.S. Currency Program. 

Successful implementation of advanced technology improves productivity, reduces 

environmental impact and enhances counterfeit deterrence of U.S. currency notes. In 

FYs 2022 and 2023, the major retooling initiatives include: 

 Upgrade and complete automation of the $100 finishing line to integrate Single Note 

Inspection (SNI) technology. 

 Replacement of obsolete electrical and mechanical parts on existing presses and upgrade to 

the inspection system. 

 The LEPE Inspection and Electrical Upgrades for improvements and increased capabilities to 

the existing system in operation. 

 

5. Human Capital/Talent Management: The BEP will continue with its FY 2022 strategic 

initiatives into FY 2023 by updating the hiring and recruiting plan to ensure the bureau 

accomplishes talent management initiatives, while filling personnel gaps in needed mission 

critical occupations. Throughout FY 2021, the BEP continued to fill gaps in both STEM and 

cybersecurity positions by utilizing a variety of hiring authorities and participating in four virtual 

fairs that specifically targeted STEM positions in the federal government. Additionally, the BEP 

attended 12 virtual and two in-person recruitment events in the Washington, D.C. and Dallas/Ft. 

Worth locations to attract potential candidates in targeted demographic and underrepresented 

areas. STEM positions will continue to be highlighted in FY 2022 by the remaining targeted 

fields/occupations in our annual Recruitment, Hiring, and Outreach Plan and by our continued 

participation in upcoming recruitment events/career fairs that highlight our STEM and mission 

critical occupations. In FY 2021 the BEP hired 33 new hires in the STEM field; and in the first 

quarter of FY 2022, three STEM positions have been filled. In addition, BEP hired 25 

employees in identified mission critical occupations. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 108
Budget Highlights 

Dollars in Thousands 

 FTE Materials Operating & 

Capital Total 

FY 2022 Original Estimate 1,863 $374,278 $1,569,975 $1,944,253 

Program Changes 

Program Decreases: 0 (42,413) (886,494) (928,907) 

Currency Program 0 (42,413) 0 (42,413) 

Decrease in Travel 0 0 (1,215) (1,215) 

Washington, D.C. Replacement Facility 0 0 (885,279) (885,279) 

Program Increases: 0 0 66,334 66,334 

Additional overtime required to meet YCO 0 0 7,500 7,500 

Service Contracts 0 0 53,584 53,584 

WCF Building Expansion 0 0 5,250 5,250 

Subtotal Program Changes 0 (42,413) (820,160) (862,573) 

FY 2022 Revised Estimate 1,863 $331,865 $749,815 $1,081,680 

Changes to Base 

Maintaining Current Levels (MCLs) 0 0 19,110 19,110 

Pay Annualization (2.7% average pay raise) 0 0 2,002 2,002 

Pay-Raise (4.6% average pay raise) 0 0 9,620 9,620 

Non-Pay (2.0%) 0 0 7,488 7,488 

Subtotal Changes to Base 0 0 19,110 19,110 

FY 2023 Current Services 1,863 $331,865 $768,925 $1,110,790 

Program Changes 

Program Decreases: 0 0 (17,469) (17,469) 

Manufacturing Support 0 0 (12,769) (12,769) 

WCF Building Expansion 0 0 (4,700) (4,700) 

Program Increases: 0 43,261 913,269 956,530 

Currency Program 0 43,261 0 43,261 

Retooling 0 0 19,750 19,750 

Washington D.C. Replacement Facility 0 0 885,279 885,279 

Facilities Support 0 0 825 825 

Information Systems 0 0 3,300 3,300 

Security and Accountability 0 0 4,115 4,115 

Subtotal Program Changes 0 43,261 895,800 939,061 

FY 2023 Estimated 1,863 $375,126 $1,664,724 $2,039,851 

Budget Adjustments 

Program Decreases .................................................................................-$928,907,000 / -0 FTE 

Currency Program -$42,413,000 / -0 FTE 

The yearly currency order (YCO) is 7.2B notes in FY 2022. 

Travel Decrease -$1,215,000 / -0 FTE 

The decrease is due to COVID travel restrictions. 

Washington, DC Replacement Facility -885,279,000 / -0 FTE 

The obligation for the next phase of DC Replacement Facility project is delayed to FY 2023. 

 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 109
Program Increases .................................................................................+ $66,334,000 / +0 FTE 

Additional Overtime +$7,500,000 / +0 FTE 

The overtime in FY 2021 was trending at a higher rate due to COVID. BEP anticipates the 

higher overtime rate to continue into FY 2022. 

Service Contracts +53,584,000 / +0 FTE 

Large service contracts awarded in FY 2021 include asbestos abatement service, repairing annex 

building exterior façade, banknote design and development and cybersecurity. 

WCF Expansion +5,250,000 / +0 FTE 

The increase is due to equitable adjustments and claims. 

Maintaining Current Levels (MCLs) ......................................................+$19,110,000 / +0 FTE 

Pay Annualization (2.7%) +$2,002,000 / +0 FTE 

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

Pay Raise (4.6% in FY 2023) +$9,620,000 / +0 FTE 

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

Non-Pay +$7,488,000 / +0 FTE 

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

and equipment. 

Program Decreases ..................................................................................-$17,469,000 / -0 FTE 

Manufacturing Support -$12,769,000 / -0 FTE 

This reflects decrease of planned obligation for Manufacturing Support. 

WCF Building Expansion -$4,700,000 / -0 FTE 

This reflects decrease of anticipated obligation from $13M in FY 2022 to $8.3M in FY 2023 

Program Increases .................................................................................+$956,530,000 / +0 FTE 

Currency Program Increase +$43,261,000 / +0 FTE 

This reflects currency order commitment increase from 7.2B to 7.6B notes. 

Retooling +19,750,000 / +0 FTE 

This increase is for planned obligation for new equipment for the Washington, DC Replacement 

Facility and WCF. 

Washington, DC Replacement Facility +885,279,000 / +0 FTE 

This increase is for obligations originally planned in FY 2022. 

Facilities Support +$825,000 / +0 FTE 

This increase is for planned obligations for facilities support. 

Information Systems +$3,300,000, + 0 FTE 

This increase is for planned obligations for IT hardware and software upgrades. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 110
Security and Accountability +$4,115,000, +0 FTE 

This increase is for planned obligations for new traceability project and security equipment. 

Legislative Proposals 

BEP has no legislative proposals. 

Performance Highlights FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Manufacturing Currency Notes Delivered Returned Due to 

Defects (Parts per Million) .009 .02 .0016 <1ppm <1ppm 

Manufacturing FEVS Satisfaction1 74 74 NR >65% >65% 

Manufacturing Lost Time Accident Rate per 100 Employees 2 1.48 1.01 1.59 < 1.8 < 1.8 

Manufacturing Manufacturing Costs for Currency (Dollar 

Costs Per Thousand Notes Produced) $50.33 $56.193 $64.33 $63.07 $65.00 

Key: B – Baseline; NR – Not Received 

1 FEVS Satisfaction scores are keyed to the year of survey, not the year results are received. 

2 Lost Time Accident Rates are adjusted following adjudication of accident reports received during each fiscal year. 

3 Target Manufacturing Cost in FY 2020 was increased from $55.73 to $59.65 in Jun 2020 in response to an increase in FY 2020 

order due to pandemic demand. 

Description of Performance 

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

strategic goals. 

Currency Notes Returned Due to Defects (in parts per million or ppm) is an indicator of BEP’s 

ability to provide a quality product. The target for this performance metric is <1 ppm. BEP was 

able to exceed the established target in FY 2021, with an actual result of 0.0016 ppm notes 

returned due to a defect. BEP’s target for this performance metric will be held constant at <1 

ppm for FY 2022 and FY 2023. 

The Federal Employees Viewpoint Survey (FEVS) allows employees to share their opinion on 

what matters most to them. Based on the results of the survey, BEP can target areas for 

improvement or additional employee engagement. The measure uses the Department’s standard 

FEVS Satisfaction Index with a target of 65 percent or greater. In FY 2022 and 2023, BEP will 

continue to strive for improvements in overall employee satisfaction. 

The Lost Time Accident Rate per 100 employees measures the BEP’s ability to reduce injuries 

in the workplace. BEP’s FY 2021 Lost Time Accident rate was at 1.59 cases per 100 employees, 

lower than the target of 1.80 cases per 100 employees. This performance resulted from increased 

focus on following safe work practices and avoiding hazards. For FY 2022, BEP remains 

committed to maintaining and improving the safety of its employees. BEP will continue to 

perform analysis to determine the root causes of any injury and to identify best practices in 

safety. The 1.80 case rate represents approximately one injury per facility per month. BEP’s 

target will be held at 1.80 cases per 100 employees for FY 2022 and FY 2023. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 111
Manufacturing Cost for Currency (dollar cost per 1,000 notes produced) is an indicator of 

manufacturing efficiency and effectiveness of program management. The measure is based on 

contracted price factors, productivity improvements, and the mix and timing of denominations 

ordered. This indicator is strongly affected by the portion of the order devoted to high-value 

notes, which are more expensive to produce. Actual performance against standard costs depends 

on BEP’s ability to meet spoilage, efficiency, and capacity utilization goals. The final FY 2021 

cost was $61.81 per 1,000 notes produced. BEP’s target for this performance metric is $63.07 in 

FY 2022. The notional target for FY 2023 is set at $65.00 per 1,000 notes produced. This target 

will be refined once the FY 2023 currency order is received. 

The FY 2021 order met its target of delivering 100 percent of the currency notes ordered, with 

BEP delivering 7.0B notes. Recent currency orders now include a minimum quantity of notes by 

denomination, as well as a maximum. In FY 2022, the minimum quantity requested is 6.876B 

notes. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 112
United States Mint 

Program Summary by Budget Activity 

Summary 

In Fiscal Year (FY) 2023, the Mint’s total estimated budgetary requirements for operations, 

metal, and capital investments are $3.4 billion. This budget will support the production of 14.5 

billion circulating coins, as well as the production of bullion and other numismatic products 

sufficient to meet customer demand. The Mint has one budget activity: manufacturing, which 

encompasses the bureau’s two major programs, circulating coinage and numismatic products 

(including bullion coins, collector coins, and national medals). 

To maintain its reputation as one of the finest mints in the world, the Mint is committed to 

operating according to the core values of service, quality, and integrity. The Mint has three 

strategic goals to help fulfill its mission and values: 1) Advancing our circulating mission 

through innovation and technology; 2) Foster a safe, flexible, diverse and engaged workforce; 3) 

Introducing diverse products to new customers and revitalizing the Mint customer base through 

the use of industry-proven marketing approaches. 

Mint operations are funded through the Mint Public Enterprise Fund (PEF), 31 U.S.C. § 5136. 

The Mint generates revenue through the sale of circulating coins to the Federal Reserve Banks 

(FRB), numismatic products to the public, and bullion coins to authorized purchasers. All 

circulating and numismatic operating expenses, along with capital investments incurred for the 

Mint’s operations and programs, are paid out of the PEF. By law, all funds in the PEF are 

available without fiscal year limitation. Revenues determined to be in excess of the amount 

required by the PEF are transferred to the United States Treasury General Fund. The Mint’s key 

priorities for FY 2023 include: 

 Circulating - Efficiently and effectively mint and issue approximately 14.5 billion circulating

coins in FY 2023 to meet the needs of commerce.

 Numismatic Program Bullion Products - Mint and issue bullion coins to meet customer

demand efficiently and effectively.

 Other Numismatic Products - Produce and distribute numismatic products in sufficient

quantities, through appropriate channels, to make them accessible, available, and affordable

to people who choose to purchase them. Design, strike, and prepare for presentation

Congressional Gold Medals.

Dollars in Thousands

FY 2021 FY 2022 FY 2023 FY 2022 to 

FY 2023

Budget Activity Actual Revised Estimate Estimate % Change

Manufacturing $5,029,975 $3,411,250 $3,397,145 -0.41%

Total Cost of Operations $5,029,975 $3,411,250 $3,397,145 -0.41%

Full-time Equivalents (FTE) 1,566 1,705 1,705 0.00%

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 113
Budget Highlights 

FY 2023 Budget Adjustments 

Adjustment to Estimate 

Program Increases............................................................. +$98,652,000 / +34 FTE

Metal due to Forecasted Increase in Bullion and Numismatic Production +$80,000,000 / +0 FTE 

FY 2022 forecasted bullion coin production is projected to remain flat but metal prices are 

anticipated to increase, which will increase bullion coin program costs overall. 

Order Management Services +$3,103,000 / +0 FTE 

The Mint anticipates an increase of approximately $3.1 million for operating and maintenance 

costs for labor rate, digital media, and software to improve system functionality and customer 

experience. 

Numismatic Capital Increase +$9,500,000 / +0 FTE 

Investments in capital are a critical part of regular manufacturing operations. To continue 

effective coin production, equipment replacements and facility maintenance is mandatory. An 

increase to numismatic capital investments is required to effectively support equipment and 

facility maintenance needs that have been deferred in prior years, including a proof press 

overhaul as well an HVAC renovation at the San Francisco Mint. 

FTE Increase +$4,749,000 / +34 FTE 

The Mint has identified 19 new FTEs needed to support cyber security and data network efforts, 

anti-counterfeiting efforts, evidence-building activities, and numismatic and bullion programs. 

In addition, the Mint increased its actual FTE 5 percent in FY21 and anticipates an increase of 6 

Dollars in Thousands

FTE Materials Operating & 

Capital Total

FY 2022 President's Budget 1,671 $2,810,000 $502,598 $3,312,598 

Program Changes

Program Increases: 34 $80,000 $18,652 $98,652 

Metal Due to Forecasted Increase in Bullion and Numismatic Production 0 $80,000 $0 $80,000 

Order Management Services 0 $0 $3,103 $3,103 

Numismatic Capital Increase 0 $0 $9,500 $9,500 

FTE Increase 34 $0 $4,749 $4,749 

Launching American Women Quarters Program 0 $0 $1,300 $1,300 

Subtotal Program Changes 34 $80,000 $18,652 $98,652 

FY 2022 Revised Estimate 1,705 $2,890,000 $521,250 $3,411,250 

Changes to Base

Maintaining Current Levels (MCLs) 0 $0 $15,895 $15,895 

Pay Annualization (2.7%) 0 $0 $1,610 $1,610 

Pay Raise (4.6%) 0 $0 $9,004 $9,004 

Non-Pay (2%) 0 $0 $5,280 $5,280 

FY 2023 Current Services 1,705 $2,890,000 $537,145 $3,427,145 

Program Changes

Program Decreases 0 ($100,000) $0 ($100,000)

Metal due to forecasted decrease in Bullion and Numismatic production 0 ($100,000) $0 ($100,000)

Program Increases 0 $70,000 $0 $70,000 

Metal due to forecasted increase in circulating production 0 $70,000 $0 $70,000 

Subtotal Program Changes 0 ($30,000) $0 ($30,000)

Total FY 2023 Estimate 1,705 $2,860,000 $537,145 $3,397,145 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 114
percent in FY 2022 to return to the 1705 FTE level in past years. The higher level increase will 

be made possible by additional hiring authorities for cyber and production. 

Launching American Women Quarters Program +$1,300,000 / +0 FTE 

The new quarters program was launched in FY 2022. These costs will support our efforts to 

inform the public of the program by investing in various media platforms, marketing, and 

education.

 

Maintaining Current Levels (MCLs)..................................................... +$15,895,000 / +0 FTE

Pay Annualization (2.7%) +$1,610,000 / +0 FTE 

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

Pay Raise (4.6%) +$9,004,000 / +0 FTE 

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

Non-Pay +$5,280,000 / +0 FTE 

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

and equipment. 

Program Decreases............................................................. -$100,000,000 / -0 FTE

Metal due to Forecasted Decrease in Bullion/Numismatic Production -$100,000,000 / -0 FTE 

FY 2023 forecasted demand for the bullion coin program is anticipated to return to more historic 

levels. The result is a decrease of $50 million in bullion metal costs. Concurrently, numismatic 

program sales are also forecasted to decline causing a decrease of $50 million in metal costs. 

The result for the numismatic and bullion program is an overall decrease in program costs. 

Program Increases............................................................. +$70,000,000 / +0 FTE

Metal due to Forecasted Increase in Circulation Production +$70,000,000 / +0 FTE 

FY 2023 forecasted circulating coin production is projected to increase. In conjunction, 

circulating metal prices are also projected to increase. This results in an overall increase in the 

circulating coin program. 

Legislative Proposals 

The Mint has not legislative proposals. 

Performance Highlights 

Performance Measure FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2021 FY 2022 FY 2023

Actual Actual Actual Actual Actual Target Target Target

Circulating On‐Time Delivery 100 100 100 100 100 97.5 97.5 97.5

Customer Satisfaction Index (%) 91.7 93.6 93.6 91.7 84.5 90 84.5 85

Numismatic Sales Units (Million

Units)

3.9 3.3 4.3 3.4 3.7 3.6 3.5 3.0

Safety Incident Recordable Rate 1.96 1.9 1.45 1.29 0.71 2.30 2.26 2.19

Seigniorage per Dollar Issued ($) 0.45 0.37 0.4 0.47 0.37 0.41 0.33 0.33

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 115
Description of Performance 

Customer Satisfaction Index (CSI) 

The Mint conducts a quarterly survey of a random sample of active numismatic customers. The 

survey is intended to capture customer satisfaction with the Mint’s service performance as a coin 

products supplier and with the quality of specific products. The CSI metric is a quantitative 

score summarizing the survey’s results into one consolidated value. This metric gauges 

performance results in the effort to achieve the Mint’s internal strategic plan goal, 

“Revitalization of products and customer base,” and the Mint’s internal strategic objective linked 

to this goal, “Integrated marketing plan”, which includes metrics for performance, customer 

engagement and customer satisfaction to evaluate the health of the Mint’s sales and marketing 

program. 

In FY 2021, the CSI was 84.5 percent, failing to reach its 90.0 percent target. The Mint fell short 

of the target due to COVID-19 as the call center and distribution warehouse experienced labor 

shortages and high labor turnover, impeding fulfillment of phone call and shipping volumes. 

The Mint has set the target for this metric at 84.5 percent for FY 2022 and at 85.0 percent for 

FY 2023. The Mint is implementing new and exciting technology to our marketing services to 

help meet these targets. This technology will enable more and better customer engagement and 

allow us to connect with a broader audience across multiple channels. 

Numismatic Sales Units 

The numismatic sales unit metric measures public demand for coin products sold from 

numismatic operations. This metric also measures performance results achieving the Mint’s 

internal strategic plan goal, “Revitalization of products and customer base” and the Mint’s 

internal strategic objective linked to this goal, “Increasing brand awareness.” 

Numismatics product sales for FY 2021 totaled nearly 3.7 million units, slightly over its 3.6 

million units target. However, the environment for numismatic sales overall remains uncertain. 

A shortage of silver blanks is challenging the Mint’s ability to manufacture enough units to fully 

meet customer demand for its most popular products. The performance target for numismatic 

sales units is 3.5 million for FY 2022 and 3.0 million for FY 2023. Targets are representative of 

anticipated results for the various numismatic product programs for that year. Therefore, targets 

tend to vary year over year. To meet these targets, the Mint will continue to provide high-quality 

products and maintain outstanding customer service and deepen engagement with coin 

collectors.

Safety Incident Recordable Rate

The safety incident recordable rate is the number of injuries and illnesses meeting the 

Occupational Safety and Health Administration recording criteria per 100 full-time workers. It 

measures the occurrence of work-related incidents involving death, lost time and restricted work, 

loss of consciousness, or medical treatment. The safety incident recordable rate indicates 

performance results in the effort to achieve the Mint’s internal strategic plan goal, “Foster a safe, 

flexible, diverse, and engaged workforce,” and the corresponding Mint internal strategic 

objective linked to this goal, “Continue to cultivate a safe working environment.” 

In FY 2021, the total recordable case rate reached 0.71, well below the Mint’s FY 2021 target of 

2.30, and significantly below the most recently published industry average rate of 5.2 published 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 116
in 2015 by the U.S. Bureau of Labor Statistics for the comparable Non-Automotive Metal 

Stamping industry. During FY 2021, the Mint continued implementing and updating risk 

management guidelines to prioritize resources and mitigate risks in advance of injuries or 

catastrophic events at each plant. Mint facility leadership and employees continue to interact on a 

daily basis on the importance of safety. The performance targets for the safety incident 

recordable rate are 2.26 for FY 2022 and 2.19 for FY 2023. 

Seigniorage per Dollar Issued 

Seigniorage per Dollar Issued is the financial return on circulating operations, calculated as 

seigniorage divided by the total face value of circulating coins shipped to the FRBs. Seigniorage 

is the difference between the face value and cost of producing circulating coinage. It measures 

the cost effectiveness of minting and issuing the United States’ circulating coinage. It also 

measures performance results in achieving the Mint’s internal strategic plan goal, “Advancing 

the circulating mission,” as well as the Mint’s internal strategic objective linked to the goal, 

“Utilize research, analysis, and technology for enhancement of circulating coin output and 

input.” 

At the end of FY 2021, Seigniorage per Dollar Issued was $0.37, well below the FY 2021 

performance target of $0.41, the result of a decrease in circulating units shipped. FY 2022 and 

FY 2023 target decreases are a result of projected decreases in production volumes, as well as 

increases in base metals costs for all denominations, as spot market prices are expected to 

escalate. The Seigniorage per Dollar Issued performance targets are set at $0.33 for both 

FY 2022 and FY 2023. 

Circulating On-time Delivery 

Circulating On time Delivery is the percentage total of scheduled circulating coin orders shipped 

on time to the Federal Reserve Banks. Each month, the FRB provides Mint a report detailing the 

next month's requirements for coinage. Based on this report, the Mint establishes a shipment 

schedule that is captured in the Oracle manufacturing system. Changes to the schedule are only 

made when the FRB provides formal documentation of a requested adjustment to scheduled 

orders. The Mint will continue to respond to FRB orders as needed, as well as make every effort 

to have the appropriate amount of coinage available to accommodate timely shipments. 

Performance over the past few years has consistently averaged around 100 percent. On time 

delivery for FY 2021 was 100 percent. The performance targets for circulating on-time delivery 

is set at 97.5 percent for both FY 2022 and FY 2023. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 117
Department of the Treasury - Budget in Brief 118
Office of the Comptroller of the Currency 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2021 FY 2022 FY 2023 FY 2022 to 

FY 2023 

Budget Activity Actual Revised Estimate Estimate % Change 

Supervise $978,890 $1,071,065 $1,078,520 0.70%

Regulate $105,202 $115,109 $115,910 0.70%

Charter $27,887 $30,513 $30,726 0.70%

Total Cost of Operations $1,111,979 $1,216,687 $1,225,156 0.70% 

Full-time Equivalents (FTE) 3,491 3,555 3,555 0.00% 

Summary 

The Office of the Comptroller of the Currency (OCC) was created by Congress in 1863 to 

charter national banks; oversee banking institutions; and ensure national banks are safe and 

sound, competitive and profitable, and capable of serving in the best possible manner the 

banking needs of their customers. As of September 30, 2021, the OCC supervised 797 national 

bank charters, 52 federal branches and agencies, and 269 federal savings associations with 

approximately $14.9 trillion in financial institution assets. 

Effective supervision and a comprehensive regulatory framework are the key tools that the OCC 

uses to ensure that national banks and federal savings associations operate in a safe and sound 

manner and that they provide fair access to financial services and fair treatment of their 

customers. A robust chartering program allows new entrants into the financial services sector 

while ensuring that they have the necessary capital, managerial, and risk management processes 

to conduct activities in a safe and sound manner. 

The OCC’s nationwide staff of bank examiners conducts on-site and off-site reviews of banks 

and provides sustained supervision of these institutions’ operations. Examiners have used 

enhanced off-site tools and processes during the pandemic to support their supervision 

responsibilities. Examiners analyze asset quality, capital adequacy, earnings, liquidity, and 

sensitivity to market risk for all banks, and assess compliance with federal consumer protection 

laws and regulations. Examiners also evaluate management’s ability to identify and control risk 

and assess banks’ performance in meeting the credit needs of the communities in which they 

operate, pursuant to the Community Reinvestment Act (CRA). 

In supervising banks, the OCC: 1) approves or denies applications for new charters, branches, 

capital, or other changes in corporate or banking structure; 2) takes supervisory and enforcement 

actions; 3) removes and prohibits officers and directors, negotiate agreements to change banking 

practices, and issue cease-and-desist orders as well as Civil Money Penalties (CMPs); 4) issues 

rules and regulations, legal interpretations, supervisory guidance, and corporate decisions 

governing investments, lending, and other practices. 

The OCC’s operations are funded primarily (approximately 97 percent) from semiannual 

assessments levied on national banks and federal savings associations. Revenue from 

investments in Treasury securities and other income comprise the remaining three percent. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 119
Legislative Proposals 

OCC has no legislative proposals. 

Performance Highlights FY 2019 FY 2020 FY2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Supervise 

Percentage of National Banks and Federal 

Savings Associations with Composite 

CAMELS Rating 1 or 2 

96 96 96 90 90 

Supervise 

Percentage of National Banks and Federal 

Savings Associations That Are Categorized as 

Well Capitalized 

98 95 99 95 95 

Supervise 

Percentage of National Banks and Federal 

Savings Associations with Consumer 

Compliance Rating of 1 or 2 

98 98 98 94 94 

Supervise 

Rehabilitated National Banks and Federal 

Savings Associations as A Percentage Of 

Problem National Banks One Year Ago 

(CAMEL 3,4, or 5) 

15 23 28 Disc Disc 

Supervise 

Total OCC Costs Relative to Every $100,000 

in Bank and Federal Savings Associations 

Assets Regulated ($) 

8.07 7.78 6.79 7.37 7.37 

Charter 

Percentage of Licensing Applications and 

Notices Completed within Established 

Timeframes 

99 98 98 95 95 

Key: Disc-Discontinued 

Description of Performance 

The OCC charters, regulates and supervises all national banks and federal savings associations, 

as well as supervises federal branches and agencies of foreign banks. The primary goal of the 

OCC’s Supervise Program is to ensure that these institutions operate in a safe and sound manner 

and in compliance with laws requiring fair treatment of their customers and fair access to credit 

and financial products. The OCC also monitors risks and threats to the stability of the national 

banking system through regular examinations of supervised institutions and other monitoring. 

Composite Capital Adequacy, Asset Quality, Management, Earnings, Liquidity, and Sensitivity 

(CAMELS) rating reflects banks’ financial condition. As of December 31, 2021, 96 percent of 

national banks and federal savings associations had composite CAMELS rating of either 1 or 2.

The OCC strives for timely and effective approval of corporate applications to complete 

corporate transactions and introduce new financial products and services. The OCC completed 

99 percent of applications and notices within established timeframes as of December 31, 2021. 

The OCC’s early identification and intervention with problem financial institutions can lead to 

rehabilitation. As of September 30, 2021, 28 percent of national banks and federal savings 

associations with composite CAMELS ratings of 3, 4, or 5 one year prior improved ratings to 

either 1 or 2. There were no national bank or federal savings association failures in FY 2021. 

Non-Appropriated Accounts - Bureau Program Detail Department of the Treasury - Budget in Brief 120
Department of the Treasury - Budget in Brief 121
Department of the Treasury - Budget in Brief 122
FY 2023 Executive Summary

The Administration’s FY 2023 Budget requests $4.375 billion for the Treasury Department’s

International Programs. This request is a critical component of the Biden-Harris 

Administration’s approach for restoring American global standing and leadership through our 

allies and multilateral institutions, including the international financial institutions (IFIs), and 

will help the United States confront many of the global challenges that we face. These 

challenges include confronting the existential threat of climate change, continued response to the 

COVID-19 pandemic, and fully restoring global economic growth and pre-pandemic progress in 

reducing poverty. It is particularly imperative that we scale up our efforts to support low-carbon, 

sustainable, inclusive, and resilient economic development for the wellbeing and economic 

security of Americans and people around the world. The Russian invasion of Ukraine further 

reinforces the need for a strong U.S.-supported development finance system. The large number 

of refugees and spillover impacts of the war on energy markets, food prices, trade, and 

remittances will require a robust and well-resourced response.

Treasury’s International Programs, particularly U.S. contributions to multilateral development 

banks (MDBs), provide important financing, policy and technical support for quality 

infrastructure investment, climate change adaptation and mitigation, public health, digital 

development, and gender equality, which are essential to delivering on the goals of the Build 

Back Better World (B3W) initiative. They also contribute to enhancing equity and fostering the 

inclusion of disadvantaged and marginalized people in developing countries that have not 

adequately shared the benefits of development. 

The institutions and programs supported by this request are a cost-effective way for the United 

States to advance its geostrategic interests and to deliver results on the ground across a range of 

issues that are critical to the Biden-Harris Administration’s objective to promote a foreign policy 

for the middle class. The International Monetary Fund (IMF) supports international 

macroeconomic and financial stability. The World Bank, the preeminent development 

institution, regional development banks, multilateral funds, and Treasury’s bilateral technical 

assistance program support economic development, reducing global poverty and inequality, 

addressing climate change, as well as infrastructure investment, food security, and social and 

economic inclusion. Through its engagement with multilateral institutions and through bilateral 

technical assistance, Treasury helps developing countries attract and sustain private investment 

for clean and sustainable infrastructure that will increase prosperity. Further, these institutions

and programs reflect and promote American values related to good governance, transparency, 

and sound debt management. 

Supporting economic prosperity overseas also bolsters economic dynamism and prosperity at 

home by expanding markets for U.S. exports, which creates jobs for the U.S. middle class and 

protects the stability of the American economy. Treasury International Programs also safeguard

and improve the wellbeing of the American people in other ways. For example, U.S. 

contributions to climate change and environment funds not only help protect the global climate, 

but they also reduce harmful chemicals in the air that Americans breathe and in the water they 

drink. They also sustain the availability of food and natural resources from overseas on which 

Americans depend. 

Treasury International Programs Department of the Treasury - Budget in Brief 123
Treasury International Programs play a critical role in achieving the President’s historic climate 

finance pledge, and account for a significant portion of the over $11 billion included in the 

Budget for international climate change finance in FY 2023. The Administration is requesting 

$2.315 billion in appropriations for Treasury climate change and environmental funds and 

programs1

. This includes $1.6 billion for the Green Climate Fund (GCF), as well as requests for 

the Climate Investment Funds (CIFs) Clean Technology Fund (CTF), the Global Environment 

Facility (GEF), and the Tropical Forest and Coral Reef Conservation Act (TFCCA). Including 

the proposed loan to the CTF2, Treasury International Programs will support approximately 

$4.513 billion in international climate finance. These programs will accelerate progress toward 

meeting the goals of the Paris Agreement by assisting developing countries in reducing 

greenhouse gas emissions, adapting to climate change and building resilience, and investing in 

sustainable infrastructure. These programs will also invest in forest conservation and other 

nature-based solutions, which simultaneously support developing country climate change efforts 

and broader environmental goals. 

Our contributions to the MDBs are also critical to support U.S. climate change goals as they are 

the among the largest and most efficient financiers of systemic change to address climate change. 

In 2019, the OECD estimates that multilateral development banks contributed over $42 billion or 

53 percent of the total amount of climate finance investments that developed countries mobilized 

for developing countries. In addition, the MDBs are vital partners to help countries achieve the 

Sustainable Development Goals (SDGs), including investments in access to clean energy, 

education, health, clean water and sanitation, infrastructure, and decent work 

The FY 2023 budget also seeks funding and necessary authorization to lend up to $21 billion to

IMF facilities and trust funds, including to the IMF’s concessional facility, the Poverty 

Reduction and Growth Trust (PRGT), and the new Resilience and Sustainability Trust (RST). 

The IMF is the premier international institution for promoting and sustaining global financial 

stability, which is critical for sustained growth and increasing living standards, both at home and 

overseas. The IMF’s role is especially important as vulnerable countries grapple with the 

ongoing shock of COVID-19 and spillovers from Russia’s further invasion of Ukraine. The 

PRGT provides highly concessional financing to the world’s poorest countries to support 

macroeconomic stability and sustain their ability to expand health and social sector spending as 

they continue to recover from the COVID-19 pandemic. The proposed Resilience and 

Sustainability Trust (RST) will provide longer-term, concessional financing alongside fullfledged IMF programs to support countries undertaking structural reforms to boost resilience to 

pandemics and transition to more sustainable energy sources. 

These contributions will strengthen the United States’ ability to lead within the IFIs to promote 

more inclusive and sustainable development pathways, to increase the allocation of financing to 

1 Of this total, the $2.293 billion is considered to be climate finance. Because the Global Environment Facility 

(GEF) supports multiple environmental goals, only 85 percent of GEF funding ($127.67 million) is included in the 

climate finance totals.

2

 The Administration requests $550 million for the CTF in FY 2023, of which $520 million will subsidize a loan to 

the CTF. Based on current assumptions, the Administration estimates that this will support a loan of approximately 

$3.22 billion. 

Treasury International Programs Department of the Treasury - Budget in Brief 124
the world’s poorest and most fragile countries, and to continue to deliver on key reforms aimed 

at improving governance, effectiveness, and financial discipline. Proposed contributions to the 

IFIs will also sustain their relevance to developing countries that are facing higher demands for 

lending and investment for COVID-19-recovery, energy transition, resilience to the changing 

climate and other priorities, including response to energy and food price increases and other 

spillover effects from Russia’s further invasion of Ukraine. Absent a strong MDB system, 

developing countries will increasingly turn to other alternatives, including to non-transparent 

sources of development finance. 

Treasury’s Office of Technical Assistance provides finance ministries, central banks, and other 

government institutions specialized expertise, including through embedded advisors, to enhance 

domestic revenue mobilization, improve financial regulation, and combat financial crimes. In so 

doing, it helps create conditions for private sector led growth, including increased private sector 

investment in infrastructure, thereby supporting the B3W initiative. And Treasury debt relief 

and restructuring programs help developing countries to achieve fiscal sustainability and create 

fiscal space for investments in infrastructure, public health, pandemic recovery, and 

environmental protection and conservation. 

Multilateral Development Banks 

The FY 2023 Budget requests $1.906 billion for the MDBs. The MDBs play key roles in the 

effort to reduce poverty, increase economic growth, foster economic and social inclusion, 

develop high-quality infrastructure, and fight climate change. This advances U.S. foreign policy 

objectives of sustaining peace and stability, promoting security, and protecting the global 

environment. Specifically, the MDBs are key to achieving the Administration’s B3W goals. 

They engage in policy dialogue; mobilize private finance; support the implementation of high 

technical, environmental, social and governance standards; promote innovation; and provide 

finance to low and middle income countries for low-carbon and resilient infrastructure 

development. 

Annually, the MDBs invest approximately $35 billion in quality infrastructure and support 

developing countries in mobilizing billions more in private capital. Collectively, the MDBs are 

the largest contributors towards achieving the goal for developing countries to mobilize $100 

billion goal for climate mitigation and adaptation in developing countries annually.3

 The MDBs 

have also played a leading role in the global response to the COVID-19 pandemic. Since the 

start of the pandemic, they have provided nearly $127 billion to address the health and economic 

impacts of the pandemic, and they continue to have a strong role in the financing and 

deployment of vaccines and efforts for pandemic preparedness and response. 

The MDBs are among the most effective and efficient means through which the United States 

can support developing countries in reducing their greenhouse gas emissions, adapting to the 

impacts of climate change, and building resilience. The MDBs have also been strong partners in 

3 In 2019, the OECD estimates that multilateral institutions provided and mobilized over $42 billion or 53 percent of 

the total amount of investments attributed to developed countries for for developing countries for climate change 

mitigation and adaptation.

Treasury International Programs Department of the Treasury - Budget in Brief 125
Treasury International Programs

promoting a positive development agenda for disadvantaged, marginalized or vulnerable groups 

and lifting women’s access to equal political, social and economic opportunities. 

Financing through multilateral institutions brings significant advantages to the United States, and 

is an effective way to stretch limited development dollars. Specifically, U.S. taxpayer 

contributions to the MDBs catalyze contributions from other shareholders, MDBs’ internallygenerated resources, and funding from capital markets to significantly amplify the assistance 

levels the MDBs provide to developing countries. MDBs also offer a wide range of instruments,

including grants, loans, guarantees and equity, insurance and knowledge products. This array of 

instruments can make it easier to help de-risk the private sector to come in on U.S. priorities for

development in emerging markets. The increased support the Administration requests for the

MDBs is critical for enabling the United States to reestablish its leadership on these issues.

Treasury’s requests for the MDBs include:

International Bank for Reconstruction and Development (IBRD): an appropriation of $206.5 

million towards the fourth of up to six installments to subscribe to the U.S. share of the paid-in 

portion of the IBRD general and selective capital increases. The FY 2023 Budget also requests a 

program limitation to allow the United States to subscribe to $1.421 billion in callable capital. 

International Development Association (IDA): $1.430 billion in support of IDA programs over 

the nineteenth and twentieth replenishment periods4, including towards the first installment to

the twentieth replenishment (IDA-20). The Administration also requests authorization for the

United States to subscribe to the IDA-20 replenishment in the amount of $3.5 billion. This 

request is included in the General Provisions found in the Department of State and Other 

International Programs chapter of the FY 2023 President’s Budget Appendix. 

African Development Bank (AfDB): an appropriation of $54.6 million for the third of eight 

installments to subscribe to the U.S. share of the paid-in portion of the seventh general capital 

increase. The FY 2023 Budget also requests a program limitation to allow the United States to

subscribe to $856,174,624 in callable capital.

African Development Fund (AfDF): $171.3 million in support of AfDF programs over the 

fifteenth replenishment period (AfDF-15; AfDB FY 2020 – FY 2022), including towards a third

installment to AfDF-15. 

Asian Development Fund (AsDF): $43.6 million in support of AsDF programs over the twelfth

replenishment period (AsDF-13; FY 2022 – FY 2025). The Administration also requests

authorization to subscribe to the AsDF-13 replenishment in the amount of $174.44 million. This 

request is included in the General Provisions found in the Department of State and Other 

International Programs chapter of the FY 2023 President’s Budget Appendix. 

4 As noted in the section on IDA, IDA donors and management decided to accelerate the IDA-20 replenishment

period by one year. Consequently, this shortened the IDA-19 replenishment period by one year, covering World 

Bank Fiscal Years (WB FY) 2021 through 2022. The IDA-19 pay-in period remains FY 2021 – FY 2023. The IDA20 replenishment period is WB FY 2023 – FY 2025.

Department of the Treasury - Budget in Brief 126
International Monetary Fund – IMF Facilities and Trust Funds

The FY 2023 Budget requests a total of $20 million and the necessary authorization to enable the 

United States to lend up to $21 billion in resources from Treasury’s Exchange Stabilization Fund 

(ESF) to the RST and to the PRGT, the IMF’s concessional lending facility for low-income 

countries (LICs). The specific division of lending between the RST and PRGT is yet to be 

determined. 

Climate Change and Environment 

Green Climate Fund (GCF): The FY 2023 Budget requests $1.6 billion total for a contribution to

the GCF. Established in 2010, the GCF seeks to foster climate-resilient development and zeroemission investment by funding activities across a variety of sectors, including transport; water 

and other infrastructure; energy generation and efficiency; and land use, including agriculture 

and forestry. It uses a range of financial instruments to support high impact projects and 

programs, mobilize private sector capital, and foster stronger policy environments that better 

address the challenges of a changing climate.

Clean Technology Fund (CTF): The FY 2023 Budget requests $550 million for a contribution to 

the CTF for the Accelerating Coal Transition (ACT) Investment program, which aims to support 

developing countries’ transition away from coal. The ACT program complements the United 

States’ bilateral efforts to promote a just energy transition in targeted countries. The

Administration intends to use $520 million for the subsidy cost of a loan with an estimated value 

of approximately $3.22 billion. The Administration will use $30 million as a grant to support 

administrative costs of the loan. 

Global Environment Facility (GEF): The FY 2023 Budget requests $150.2 million to support a 

first installment to the GEF’s eighth replenishment (GEF-8). Established in 1991, the GEF is a 

multilateral trust fund that provides mainly grant-based funding to assist developing and 

transitional countries in addressing global environmental challenges in five focal areas: 

(1) biodiversity; (2) chemicals and waste; (3) climate change; (4) land degradation (primarily

deforestation and desertification); and (5) international waters.

Food Security

International Fund for Agricultural Development (IFAD): The FY 2023 Budget requests $43 

million to support including for the second of three installments towards the International Fund 

for Agricultural Development’s twelfth replenishment (IFAD-12). 

Technical Assistance – Office of Technical Assistance

The FY 2023 Budget requests $38 million for Treasury’s Office of Technical Assistance (OTA). 

Funding will help ensure that OTA is able to respond quickly and sustainably to growing 

demand for technical assistance in areas that are priorities for the United States. Such areas 

include: supporting our national security agenda by combating terrorist financing and financial 

crimes, helping countries fund and sustain their own development through improved domestic 

Treasury International Programs Department of the Treasury - Budget in Brief 127
resource mobilization and debt management, and creating the conditions for private sector-led 

economic growth. This consists of improving the climate for private sector investment in 

infrastructure projects in developing and transitional countries. 

Debt Restructuring and Relief

The FY 2023 Budget requests $67 million for bilateral debt restructuring and relief programs. 

This funding would support the following initiatives: 

G20 Common Framework for Debt Treatments beyond the Debt Service Sustainability Initiative

(the Common Framework), and Paris Club debt restructuring: The FY 2023 Budget requests 

$52 million for the United States’ participation in debt restructuring and relief programs through 

the Paris Club and G20. Since the COVID-19 pandemic, the United States has been

participating in a G20 initiative that includes China – the Common Framework, which helps lowincome countries restructure their debts through a multilateral framework. Given the rising debt 

burdens of many low-income countries, U.S. participation in the Common Framework and the 

Paris Club proactively work toward longer-term sustainability for low-income countries and 

avoid prolonged and costly debt crises.

Tropical Forest and Coral Reef Conservation Act (TFCCA): The FY 2023 Budget requests $15 

million for the TFCCA, which enables eligible developing countries with certain concessional 

debt owed to the United States to redirect some of those payments to support conservation of 

their tropical forests and/or coral reefs. Protecting biodiversity and combating climate change 

are central to U.S. national economic and security interests. Conservation of tropical forests and 

coral reefs is critical to mitigating the impact of climate change, providing clean water, and 

supporting sustainable jobs in developing countries. 

Treasury International Programs Department of the Treasury - Budget in Brief 128
Table 1: Summary of Previous Appropriations and FY 2023 Request

Treasury International Programs

FY 2021 – FY 2023

(in $ thousands)

FY 2021

Enacted

FY 2022

Full-year 

CR

FY 2022

Enacted1

FY 2023

Request

FY 2021 Enacted to 

FY 2023

FY 2022 Enacted to 

FY 2023

$ Change % 

Change $ Change % 

Change

Multilateral Development Banks (MDBs) 1,481,244 1,481,244 1,527,172 1,906,315 425,071 28.7% 379,143 24.8%

International Bank for Reconstruction and Development 

(IBRD) 206,500 206,500 206,500 206,500 0 0.0% 0 0.0%

International Development Association (IDA)2 1,001,400 1,001,400 1,001,400 1,430,256 428,856 42.8% 428,856 42.8%

African Development Bank (AfDB) 54,649 54,649 54,649 54,649 0 0.0% 0 0.0%

African Development Fund (AfDF) 171,300 171,300 211,300 171,300 0 0.0% -40,000 -18.9%

Asian Development Fund (AsDF) 47,395 47,395 53,323 43,610 -3,785 -8.0% -9,713 -18.2%

International Monetary Fund (IMF) Facilities and 

Trust Funds 0 0 102,000 20,000 20,000 n.a. -82,000 -80.4%

Climate Change and Environment 139,575 139,575 274,288 2,300,200 2,160,625 1548.0% 2,025,912 738.6%

Green Climate Fund (GCF) 0 0 0 1,600,000 1,600,000 n.a. 1,600,000 n.a.

Climate Investment Funds (CIFs) - Clean Technology Fund 

(CTF) 0 0 125,000 550,000 550,000 n.a. 425,000 340.0%

Global Environment Facility (GEF) 139,575 139,575 149,288 150,200 10,625 7.6% 912 0.6%

Food Security 32,500 32,500 48,000 43,000 10,500 32.3% -5,000 -10.4%

International Fund for Agricultural Development (IFAD) 32,500 32,500 43,000 43,000 10,500 32.3% 0 0.0%

Global Agriculture and Food Security Program (GAFSP) 0 0 5,000 0 0 n.a. -5,000 -100.0%

Office of Technical Assistance (OTA) 33,000 33,000 38,000 38,000 5,000 15.2% 0 0.0%

Debt Restructuring3 204,000 204,000 67,000 67,000 -137,000 -67.2% 0 0.0%

G-20 Debt Service Sustainability Initiative, Common

Framework on Debt Treatments, and Paris Club 0 0 52,000 52,000 52,000 n.a. 0 n.a.

Heavily Indebted Poor Countries Initiative (HIPC), Bilateral 

Debt Relief: Somalia and Sudan 189,000 189,000 0 0 -189,000 -100.0% 0 n.a.

Tropical Forest and Coral Reef Conservation Act (TFCCA) 15,000 15,000 15,000 15,000 0 0.0% 0 0.0%

TOTAL 1,890,319 1,890,319 2,056,460 4,374,515 2,484,196 131.4% 2,318,055 112.7%

1. These are the levels included in the Consolidated Appropriations Act, 2022. 

2. In FY 2022, the Department of the Treasury also made a $300,000,000 grant to IDA, funded with American Rescue Plan Act resources, to support COVID-response activities during the 

IDA-19 replenishment period.

3. In FY 2021, Congress also appropriated, on an emergency basis, $120 million to Treasury's debt restructuring account for clearing Sudan's arrears with the IMF.

Treasury International Programs Department of the Treasury - Budget in Brief 129
Table 2: Unmet Commitments at International Financial Institutions

FY 2017 – FY 2023 

(in $ thousands)

Institution FY 2017 

Enacted

FY 2018 

Enacted

FY 2019 

Enacted

FY 2020 

Enacted

FY 2021 

Enacted1

FY 2022

Estimate2

FY 2023

Projected

IDA Pledges 620,534 485,264 485,264 485,264 426,574 337,318 337,318

IDA MDRI 643,845 822,665 1,006,855 1,236,345 1,503,865 1,801,195 2,115,145

AfDF Pledges 178,682 156,167 156,167 156,167 154,191 114,191 114,191

AfDF MDRI 112,067 134,377 157,904 172,014 196,711 225,879 242,765

AsDF 284,739 283,943 283,943 283,904 283,904 274,191 274,191

GEF 134,967 134,963 131,951 110,843 102,391 89,666 89,666

 IFAD 3,833 3,833 3,833 3,833 3,833 3,833 3,833

MIF/ IDB Lab 25,710 25,710 25,710 25,710 25,710 25,710 25,710

MIGA 6,867 6,867 6,867 6,867 6,867 6,867 6,867

TOTAL 2,011,244 2,053,789 2,258,493 2,480,946 2,704,045 2,878,849 3,209,685

Total MDRI 755,912 957,042 1,164,759 1,408,359 1,700,576 2,027,074 2,357,910

Total ex-MDRI 1,255,332 1,096,746 1,093,734 1,072,587 1,003,469 851,775 851,775

1. The FY 2021 column reflects the levels at which unmet commitments stood after enactment of appropriations legislation and includes 

any early encashment credits/discounts received. It includes a payment to GEF for unmet commitments and credits/discounts received 

at IDA, the AfDF, and the GEF.

2. FY 2022 column reflects amounts appropriated by Congress in the Consolidated Appropriations Act, 2022. The decline in unmet 

commitments for IDA pledges of $89.25 million is due to the $300 million grant provided to IDA with resources from the American 

Rescue Plan Act. 

Treasury International Programs Department of the Treasury - Budget in Brief 130
Summary of FY 2023 Appropriations Language

Note—A full-year 2022 appropriation for this account was not enacted at the time the budget was 

prepared; therefore, the budget assumes these accounts are operating under the Continuing 

Appropriations Act, 2022 (Division A of P.L. 117–43, as amended). The amounts included for 

2022 reflect the annualized level provided by the continuing resolution. 

DEPARTMENTAL OFFICES

SALARIES AND EXPENSES

For necessary expenses of the Departmental Offices including operation and maintenance of 

the Treasury Building and Freedman's Bank Building; hire of passenger motor vehicles; 

maintenance, repairs, and improvements of, and purchase of commercial insurance policies 

for, real properties leased or owned overseas, when necessary for the performance of official 

business; executive direction program activities; international affairs and economic policy 

activities; domestic finance and tax policy activities, including technical assistance to State, 

local, and territorial entities; and Treasury-wide management policies and programs activities, 

$293,242,000: Provided, That of the amount appropriated under this heading— (1) not to 

exceed $350,000 is for official reception and representation expenses; (2) not to exceed 

$258,000 is for unforeseen emergencies of a confidential nature to be allocated and expended 

under the direction of the Secretary of the Treasury and to be accounted for solely on the 

Secretary's certificate; and (3) not to exceed $34,000,000 shall remain available until 

September 30, 2024, for— (A) the Treasury-wide Financial Statement Audit and Internal 

Control Program; (B) information technology modernization requirements; (C) the audit, 

oversight, and administration of the Gulf Coast Restoration Trust Fund; (D) the development 

and implementation of programs within the Office of Cybersecurity and Critical Infrastructure 

Protection, including entering into cooperative agreements; (E) operations and maintenance of 

facilities; and (F) international operations. 

OFFICE OF TERRORISM AND FINANCIAL INTELLIGENCE

SALARIES AND EXPENSES

For the necessary expenses of the Office of Terrorism and Financial Intelligence to safeguard 

the financial system against illicit use and to combat rogue nations, terrorist facilitators, 

weapons of mass destruction proliferators, human rights abusers, money launderers, drug 

kingpins, and other national security threats, $212,059,000, of which not less than $3,000,000 

shall be available for addressing human rights violations and corruption, including activities 

authorized by the Global Magnitsky Human Rights Accountability Act (22 U.S.C. 2656 note): 

Provided, That of the amounts appropriated under this heading, up to $12,000,000 shall remain 

available until September 30, 2024. 

CYBERSECURITY ENHANCEMENT ACCOUNT

For salaries and expenses for enhanced cybersecurity for systems operated by the Department 

of the Treasury, $215,000,000, to remain available until September 30, 2025: Provided, That 

such funds shall supplement and not supplant any other amounts made available to the 

Treasury offices and bureaus for cybersecurity: Provided further, That of the total amount 

Supplemental Information Department of the Treasury - Budget in Brief 131
made available under this heading $9,000,000 shall be available for administrative expenses 

for the Treasury Chief Information Officer to provide oversight of the investments made under 

this heading: Provided further, That such funds shall supplement and not supplant any other 

amounts made available to the Treasury Chief Information Officer. 

DEPARTMENT-WIDE SYSTEMS AND CAPITAL INVESTMENTS PROGRAM

For development and acquisition of automatic data processing equipment, software, and 

services; for the hire of zero emission passenger motor vehicles and for supporting charging or 

fueling infrastructure; and for repairs and renovations to buildings owned by the Department of 

the Treasury, $11,118,000, to remain available until September 30, 2025: Provided, That these 

funds shall be transferred to accounts and in amounts as necessary to satisfy the requirements of 

the Department's offices, bureaus, and other organizations: Provided further, That this transfer 

authority shall be in addition to any other transfer authority provided in this Act: Provided 

further, That none of the funds appropriated under this heading shall be used to support or 

supplement "Internal Revenue Service, Operations Support" or "Internal Revenue Service, 

Business Systems Modernization"

OFFICE OF THE INSPECTOR GENERAL

SALARIES AND EXPENSES

For necessary expenses of the Office of Inspector General in carrying out the provisions of the 

Inspector General Act of 1978, $43,878,000, including hire of passenger motor vehicles; of 

which not to exceed $100,000 shall be available for unforeseen emergencies of a confidential 

nature, to be allocated and expended under the direction of the Inspector General of the 

Treasury; of which up to $2,800,000 to remain available until September 30, 2024, shall be for 

audits and investigations conducted pursuant to section 1608 of the Resources and Ecosystems 

Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 

2012 (33 U.S.C. 1321 note); and of which not to exceed $1,000 shall be available for official 

reception and representation expenses.

COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES

For necessary expenses of the Committee on Foreign Investment in the United States, 

$20,000,000, to remain available until expended: Provided, That the chairperson of the 

Committee may transfer such amounts to any department or agency represented on the 

Committee (including the Department of the Treasury) subject to advance notification to the 

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

further, That amounts so transferred shall remain available until expended for expenses of 

implementing section 721 of the Defense Production Act of 1950, as amended (50 U.S.C. 4565), 

and shall be available in addition to any other funds available to any department or agency: 

Provided further, That fees authorized by section 721(p) of such Act shall be credited to this 

appropriation as offsetting collections: Provided further, That the total amount appropriated 

under this heading from the general fund shall be reduced as such offsetting collections are 

received during fiscal year 2023, so as to result in a total appropriation from the general fund 

estimated at not more than $0. 

Supplemental Information Department of the Treasury - Budget in Brief 132
 

TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION

SALARIES AND EXPENSES

For necessary expenses of the Treasury Inspector General for Tax Administration in carrying 

out the Inspector General Act of 1978, as amended, including purchase and hire of passenger 

motor vehicles (31 U.S.C. 1343(b)); and services authorized by 5 U.S.C. 3109, at such rates as 

may be determined by the Inspector General for Tax Administration; $182,409,000, of which 

$5,000,000 shall remain available until September 30, 2024; of which not to exceed $6,000,000 

shall be available for official travel expenses; of which not to exceed $500,000 shall be available 

for unforeseen emergencies of a confidential nature, to be allocated and expended under the 

direction of the Inspector General for Tax Administration; and of which not to exceed $1,500 

shall be available for official reception and representation expenses.

SPECIAL INSPECTOR GENERAL FOR PANDEMIC RECOVERY

SALARIES AND EXPENSES

For necessary expenses of the Office of the Special Inspector General for Pandemic Recovery in 

carrying out section 4018 of the Coronavirus Aid, Relief, and Economic Security Act of 2020 

(Public Law 116–136), in addition to amounts otherwise available for such purpose, 

$25,000,000, to remain available until September 30, 2025. 

COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND PROGRAM 

ACCOUNT

To carry out the Riegle Community Development and Regulatory Improvement Act of 1994 

(subtitle A of title I of Public Law 103–325), including services authorized by section 3109 of 

title 5, United States Code, but at rates for individuals not to exceed the per diem rate equivalent 

to the rate for EX-III, $331,420,000. Of the amount appropriated under this heading— 

(1) not less than $217,383,000, notwithstanding section 108(e) of Public Law 103–325 (12 

U.S.C. 4707(e)) with regard to Small and/or Emerging Community Development Financial 

Institutions Assistance awards, is available until September 30, 2024, for financial assistance 

and technical assistance under subparagraphs (A) and (B) of section 108(a)(1), respectively, of 

Public Law 103–325 (12 U.S.C. 4707(a)(1)(A) and (B)), of which up to $1,600,000 may be 

available for training and outreach under section 109 of Public Law 103–325 (12 U.S.C. 4708), 

of which up to $3,153,750 may be used for the cost of direct loans, of which up to $6,000,000, 

notwithstanding subsection (d) of section 108 of Public Law 103–325 (12 U.S.C. 4707 (d)), may 

be available to provide financial assistance, technical assistance, training, and outreach to 

community development financial institutions to expand investments that benefit individuals with 

disabilities, and of which not less than $2,000,000 shall be for the Economic Mobility Corps to 

be operated in conjunction with the Corporation for National and Community Service, pursuant 

to 42 U.S.C. 12571: Provided, That the cost of direct and guaranteed loans, including the cost of 

modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 

1974: Provided further, That these funds are available to subsidize gross obligations for the 

principal amount of direct loans not to exceed $25,000,000: Provided further, That of the funds 

provided under this paragraph, excluding those made to community development financial 

institutions to expand investments that benefit individuals with disabilities and those made to 

community development financial institutions that serve populations living in persistent poverty 

Supplemental Information Department of the Treasury - Budget in Brief 133
counties, the CDFI Fund shall prioritize Financial Assistance awards to organizations that 

invest and lend in high-poverty areas: Provided further, That for purposes of this section, the 

term "high-poverty area" means any census tract with a poverty rate of at least 20 percent as 

measured by the 2011–2015 5-year data series available from the American Community Survey 

of the Bureau of the Census for all States and Puerto Rico or with a poverty rate of at least 20 

percent as measured by the 2010 Island areas Decennial Census data for any territory or 

possession of the United States; 

(2) Not less than $21,500,000, notwithstanding section 108(e) of Public Law 103–325 (12 U.S.C. 

4707(e)), is available until September 30, 2024, for financial assistance, technical assistance, 

training, and outreach programs designed to benefit Native American, Native Hawaiian, and 

Alaska Native communities and provided primarily through qualified community development 

lender organizations with experience and expertise in community development banking and 

lending in Indian country, Native American organizations, Tribes and Tribal organizations, 

and other suitable providers; 

(3) not less than $26,000,000 is available until September 30, 2024, for the Bank 

Enterprise Award program; 

(4) not less than $23,000,000, notwithstanding subsections (d) and (e) of section 108 of Public 

Law 103–325 (12 U.S.C. 4707(d) and (e)), is available until September 30,2024, for a Healthy 

Food Financing Initiative to provide financial assistance, technical assistance, training, and 

outreach to community development financial institutions for the purpose of offering affordable 

financing and technical. assistance to expand the availability of healthy food options in 

distressed communities;

(5) not less than $8,500,000 is available until September 30, 2024, to provide grants for loan 

loss reserve funds and to provide technical assistance for small dollar loan programs under 

section 122 of Public Law 103–325 (12 U.S.C. 4719): Provided, That sections 108(d) and 

122(b)(2) of such Public Law shall not apply to the provision of such grants and technical 

assistance;

(6) up to $35,037,000 is available until September 30, 2023, for administrative expenses, 

including administration of CDFI Fund programs and the New Markets Tax Credit Program, of 

which not less than $1,000,000 is for the development of tools to better assess and inform CDFI 

investment performance and CDFI Fund program impacts, and up to $300,000 is for 

administrative expenses to carry out the direct loan program; and 

(7) during fiscal year 2023, none of the funds available under this heading are available for the 

cost, as defined in section 502 of the Congressional Budget Act of 1974, of commitments to 

guarantee bonds and notes under section 114A of the Riegle Community Development and 

Regulatory Improvement Act of 1994 (12 U.S.C. 4713a): Provided, That commitments to 

guarantee bonds and notes under such section 114A shall not exceed $500,000,000: Provided 

further, That such section 114A shall remain in effect until December 31, 2023: Provided 

further, That of the funds awarded under this heading, except those provided for the Economic

Mobility Corps, not less than 10 percent shall be used for awards that support investments that 

serve populations living in persistent poverty counties: Provided further, That for the purposes of 

this paragraph and paragraph (1), the term "persistent poverty counties" means any county, 

including county equivalent areas in Puerto Rico, that has had 20 percent or more of its 

population living in poverty over the past 30 years, as measured by the 1990 and 2000 decennial 

censuses and the 2011–2015 5-year data series available from the American Community Survey 

of the Bureau of the Census or any other territory or possession of the United States that has had 

Supplemental Information Department of the Treasury - Budget in Brief 134
20 percent or more of its population living in poverty over the past 30 years, as measured by the 

1990, 2000 and 2010 Island Areas Decennial Censuses, or equivalent data, of the Bureau of the 

Census.

SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF 

PROGRAM

SALARIES AND EXPENSES

For necessary expenses of the Office of the Special Inspector General in carrying out the 

provisions of the Emergency Economic Stabilization Act of 2008 (Public Law 110–343), 

$9,000,000. 

FINANCIAL CRIMES ENFORCEMENT NETWORK

SALARIES AND EXPENSES

For necessary expenses of the Financial Crimes Enforcement Network, including hire of 

passenger motor vehicles; travel and training expenses of non-Federal and foreign government 

personnel to attend meetings and training concerned with domestic and foreign financial 

intelligence activities, law enforcement, and financial regulation; services authorized by 5 

U.S.C. 3109; not to exceed $45,000 for official reception and representation expenses; and for 

assistance to Federal law enforcement agencies, with or without reimbursement, $210,330,000, 

of which not to exceed $94,600,000 shall remain available until September 30, 2025 for 

information technology and to implement Division F of the William M. (Mac) Thornberry 

National Defense Authorization Act for Fiscal Year 2021 (Public Law 116–283). 

BUREAU OF THE FISCAL SERVICE

SALARIES AND EXPENSES

For necessary expenses of operations of the Bureau of the Fiscal Service, $372,485,000; of 

which not to exceed $8,000,000, to remain available until September 30, 2025, is for information 

systems modernization initiatives; and of which $5,000 shall be available for official reception 

and representation expenses. In addition, $165,000, to be derived from the Oil Spill Liability 

Trust Fund to reimburse administrative and personnel expenses for financial management of the 

Fund, as authorized by section 1012 of Public Law 101–380. 

ALCOHOL AND TOBACCO TAX AND TRADE BUREAU

SALARIES AND EXPENSES

For necessary expenses of carrying out section 1111 of the Homeland Security Act of 2002, 

including hire of passenger motor vehicles, $150,863,000; of which $5,000,000 shall remain 

available until September 30, 2024; of which not to exceed $6,000 shall be available for official 

reception and representation expenses; and of which not to exceed $50,000 shall be available for 

cooperative research and development programs for laboratory services; and provision of 

laboratory assistance to State and local agencies with or without reimbursement. 

Supplemental Information Department of the Treasury - Budget in Brief 135
UNITED STATES MINT PUBLIC ENTERPRISE FUND

Pursuant to section 5136 of title 31, United States Code, the United States Mint is provided 

funding through the United States Mint Public Enterprise Fund for costs associated with the 

production of circulating coins, numismatic coins, and protective services, including both 

operating expenses and capital investments: Provided, That the aggregate amount of new 

liabilities and obligations incurred during fiscal year2023 under such section 5136 for 

circulating coinage and protective service capital investments of the United States Mint shall not 

exceed $50,000,000. 

INTERNAL REVENUE SERVICE

TAXPAYER SERVICES

For necessary expenses of the Internal Revenue Service to provide taxpayer services, including 

pre-filing assistance and education, filing and account services, taxpayer advocacy services, 

associated support costs, and other services as authorized by 5 U.S.C. 3109, at such rates as 

may be determined by the Commissioner, $3,684,593,000; of which not to exceed $100,000,000 

shall remain available until September 30, 2024; of which not less than $11,000,000 shall be 

for the Tax Counseling for the Elderly Program; of which not less than $26,000,000 shall be 

available for low-income taxpayer clinic grants, including grants to individual clinics of up to 

$200,000; of which not less than $30,000,000, to remain available until September 30, 2024, 

shall be available for the Community Volunteer Income Tax Assistance Matching Grants 

Program for tax return preparation assistance; and of which not less than $235,000,000 shall 

be available for operating expenses of the Taxpayer Advocate Service: Provided, That of the 

amounts made available for the Taxpayer Advocate Service, not less than $5,500,000 shall be 

for identity theft and refund fraud casework. 

ENFORCEMENT

For necessary expenses for tax enforcement activities of the Internal Revenue Service to 

determine and collect owed taxes, to provide legal and litigation support, to conduct criminal 

investigations, to enforce criminal statutes related to violations of internal revenue laws and 

other financial crimes, to purchase and hire passenger motor vehicles (31 U.S.C. 1343(b)), 

associated support costs, and to provide other services as authorized by 5 U.S.C. 3109, at such 

rates as may be determined by the Commissioner, $6,272,313,000; of which not to exceed 

$250,000,000 shall remain available until September 30, 2024; of which not less than 

$60,257,000 shall be for the Interagency Crime and Drug Enforcement program; and of which 

not to exceed $21,000,000 shall be for investigative technology for the Criminal Investigation 

Division: Provided, That the amount made available for investigative technology for the 

Criminal Investigation Division shall be in addition to amounts made available for the Criminal 

Investigation Division under the "Operations Support" heading. 

OPERATIONS SUPPORT

For necessary expenses to operate the Internal Revenue Service, including headquarters; the 

hire of passenger motor vehicles (31 U.S.C. 1343(b)); the operations of the Internal Revenue 

Service Oversight Board; and other services as authorized by 5 U.S.C. 3109, at such rates as 

may be determined by the Commissioner; $3,833,734,000; of which not to exceed $275,000,000 

shall remain available until September 30, 2024; of which not to exceed $10,000,000 shall 

Supplemental Information Department of the Treasury - Budget in Brief 136
remain available until expended for acquisition of equipment and construction, repair and 

renovation of facilities; of which not to exceed $1,000,000 shall remain available until 

September 30, 2025, for research; and of which not to exceed $20,000 shall be for official 

reception and representation expenses: Provided, That not later than 30 days after the end of 

each quarter, the Internal Revenue Service shall submit a report to the Committees on 

Appropriations of the House of Representatives and the Senate and the Comptroller General of 

the United States detailing major information technology investments in the Internal Revenue 

Service Integrated Modernization Business Plan portfolio, including detailed, plain language 

summaries on the status of plans, costs, and results; prior results and actual expenditures of the 

prior quarter; upcoming deliverables and costs for the fiscal year; risks and mitigation 

strategies associated with ongoing work; reasons for any cost or schedule variances; and total 

expenditures by fiscal year: Provided further, That the Internal Revenue Service shall include, in

its budget justification for fiscal year 2024, a summary of cost and schedule performance 

information for its major information technology systems. 

BUSINESS SYSTEMS MODERNIZATION

For necessary expenses of the Internal Revenue Service's business systems modernization 

program, $310,027,000, to remain available until September 30, 2025, for the capital asset 

acquisition of information technology systems, including management and related contractual 

costs of said acquisitions, including related Internal Revenue Service labor costs, and 

contractual costs associated with operations authorized by 5 U.S.C. 3109: Provided, That not 

later than 30 days after the end of each quarter, the Internal Revenue Service shall submit a 

report to the Committees on Appropriations of the House of Representatives and the Senate and 

the Comptroller General of the United States detailing major information technology 

investments in the Internal Revenue Service Integrated Modernization Business Plan portfolio, 

including detailed, plain language summaries on the status of plans, costs, and results; prior 

results and actual expenditures of the prior quarter; upcoming deliverables and costs for the 

fiscal year; risks and mitigation strategies associated with ongoing work; reasons for any cost or 

schedule variances; and total expenditures by fiscal year.

ADMINISTRATIVE PROVISIONS— INTERNAL REVENUE SERVICE

SEC. 101. Not to exceed 4 percent of the appropriation made available in this Act to the Internal 

Revenue Service under the "Enforcement" heading, and not to exceed 5 percent of any other 

appropriation made available in this Act to the Internal Revenue Service, may be transferred to 

any other Internal Revenue Service appropriation upon advance notice to the Committees on 

Appropriations of the House of Representatives and the Senate: Provided, That an additional 2 

percent of the appropriation made available in this Act to the Internal Revenue Service under the 

"Enforcement" heading may be transferred to the appropriation made available in this Act to the 

Internal Revenue Service under the "Taxpayer Services" heading upon advance notice to the 

Committees on Appropriations of the House of Representatives and the Senate. 

SEC. 102. The Internal Revenue Service shall maintain an employee training program, which 

shall include the following topics: taxpayers' rights, dealing courteously with taxpayers, crosscultural relations, ethics, and the impartial application of tax law. 

SEC. 103. The Internal Revenue Service shall institute and enforce policies and procedures that 

will safeguard the confidentiality of taxpayer information and protect taxpayers against identity 

theft. 

Supplemental Information Department of the Treasury - Budget in Brief 137
SEC. 104. Funds made available by this or any other Act to the Internal Revenue Service shall 

be available for improved facilities and increased staffing to provide sufficient and effective 1–

800 help line service for taxpayers. The Commissioner shall continue to make improvements to 

the Internal Revenue Service 1–800 help line service a priority and allocate resources necessary 

to enhance the response time to taxpayer communications, particularly with regard to victims of 

tax-related crimes. 

SEC. 105. The Internal Revenue Service shall issue a notice of confirmation of any address 

change relating to an employer making employment tax payments, and such notice shall be sent 

to both the employer's former and new address and an officer or employee of the Internal 

Revenue Service shall give special consideration to an offer-in-compromise from a taxpayer who 

has been the victim of fraud by a third party payroll tax preparer. 

SEC. 106. None of the funds made available under this Act may be used by the Internal Revenue 

Service to target citizens of the United States for exercising any right guaranteed under the First 

Amendment to the Constitution of the United States. 

SEC. 107. None of the funds made available in this Act may be used by the Internal Revenue 

Service to target groups for regulatory scrutiny based on their ideological beliefs. 

SEC. 108. None of funds made available by this Act to the Internal Revenue Service shall be 

obligated or expended on conferences that do not adhere to the procedures, verification 

processes, documentation requirements, and policies issued by the Chief Financial Officer, 

Human Capital Office, and Agency-Wide Shared Services as a result of the recommendations in 

the report published on May 31, 2013, by the Treasury Inspector General for Tax Administration 

entitled "Review of the August 2010 Small Business/Self-Employed Division's Conference in 

Anaheim, California" (Reference Number 2013–10–037). 

SEC. 109. None of the funds made available in this Act to the Internal Revenue Service may be 

obligated or expended— (1) to make a payment to any employee under a bonus, award, or 

recognition program; or (2) under any hiring or personnel selection process with respect to rehiring a former employee; unless such program or process takes into account the conduct and 

Federal tax compliance of such employee or former employee. 

SEC. 110. None of the funds made available by this Act may be used in contravention of section 

6103 of the Internal Revenue Code of 1986 (relating to confidentiality and disclosure of returns 

and return information). 

ADMINISTRATIVE PROVISIONS—DEPARTMENT OF THE TREASURY

SEC. 111. Notwithstanding any Congressional notification requirements for a reprogramming of 

funds in this Act, funds provided in this Act for the Internal Revenue Service shall be available 

for obligation and expenditure through a reprogramming of funds that augments or reduces 

existing programs, projects, or activities by up to $10,000,000 without prior Congressional 

notification of such action. 

SEC. 111. Appropriations to the Department of the Treasury in this Act shall be available for 

uniforms or allowances therefor, as authorized by law (5 U.S.C. 5901), including maintenance, 

repairs, and cleaning; purchase of insurance for official motor vehicles operated in foreign 

countries; purchase of motor vehicles without regard to the general purchase price limitations 

for vehicles purchased and used overseas for the current fiscal year; entering into contracts with 

the Department of State for the furnishing of health and medical services to employees and their 

dependents serving in foreign countries; and services authorized by 5 U.S.C. 3109. 

Supplemental Information Department of the Treasury - Budget in Brief 138
SEC. 112. Not to exceed 2 percent of any appropriations in this title made available under the 

headings "Departmental Offices—Salaries and Expenses", "Office of Inspector General", 

"Special Inspector General for the Troubled Asset Relief Program", "Financial Crimes 

Enforcement Network", "Bureau of the Fiscal Service", and "Alcohol and Tobacco Tax and 

Trade Bureau" may be transferred between such appropriations upon the advance notification of 

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

That no transfer under this section may increase or decrease any such appropriation by more 

than 2 percent. 

 SEC. 113. Not to exceed 2 percent of any appropriation made available in this Act to the 

Internal Revenue Service may be transferred to the Treasury Inspector General for Tax 

Administration's appropriation upon the advance notification of the Committees on 

Appropriations of the House of Representatives and the Senate: Provided, That no transfer may 

increase or decrease any such appropriation by more than 2 percent. 

SEC. 114. None of the funds appropriated in this Act or otherwise available to the Department 

of the Treasury or the Bureau of Engraving and Printing may be used to redesign the $1 Federal 

Reserve note. 

SEC. 115. The Secretary of the Treasury may transfer funds from the "Bureau of the Fiscal 

Service—Salaries and Expenses" to the Debt Collection Fund as necessary to cover the costs of 

debt collection: Provided, That such amounts shall be reimbursed to such salaries and expenses 

account from debt collections received in the Debt Collection Fund. 

SEC. 116. None of the funds appropriated or otherwise made available by this or any other Act 

may be used by the United States Mint to construct or operate any museum without the prior 

notification of the Committees on Appropriations of the House of Representatives and the Senate, 

the House Committee on Financial Services, and the Senate Committee on Banking, Housing, 

and Urban Affairs. 

 SEC. 117. None of the funds appropriated or otherwise made available by this or any other Act 

or source to the Department of the Treasury, the Bureau of Engraving and Printing, and the 

United States Mint, individually or collectively, may be used to consolidate any or all functions 

of the Bureau of Engraving and Printing and the United States Mint without the prior 

notification of the House Committee on Financial Services; the Senate Committee on Banking, 

Housing, and Urban Affairs; and the Committees on Appropriations of the House of 

Representatives and the Senate. 

SEC. 118. Funds appropriated by this Act, or made available by the transfer of funds in this Act, 

for the Department of the Treasury's intelligence or intelligence related activities are deemed to 

be specifically authorized by the Congress for purposes of section 504 of the National Security 

Act of 1947 (50 U.S.C. 414) during fiscal year 2023 until the enactment of the Intelligence 

Authorization Act for Fiscal Year 2023. 

 SEC. 119. Not to exceed $5,000 shall be made available from the Bureau of Engraving and 

Printing's Industrial Revolving Fund for necessary official reception and representation 

expenses. 

SEC. 120. Within 45 days after the date of enactment of this Act, the Secretary of the Treasury 

shall submit an itemized report to the Committees on Appropriations of the House of 

Representatives and the Senate on the amount of total funds charged to each office by the 

Franchise Fund including the amount charged for each service provided by the Franchise Fund 

to each office, a detailed description of the services, a detailed explanation of how each charge 

Supplemental Information Department of the Treasury - Budget in Brief 139
for each service is calculated, and a description of the role customers have in governing in the 

Franchise Fund. 

SEC. 121. During fiscal year 2023— (1) none of the funds made available in this or any other 

Act may be used by the Department of the Treasury, including the Internal Revenue Service, to 

issue, revise, or finalize any regulation, revenue ruling, or other guidance not limited to a 

particular taxpayer relating to the standard which is used to determine whether an organization 

is operated exclusively for the promotion of social welfare for purposes of section 501(c)(4) of 

the Internal Revenue Code of 1986 (including the proposed regulations published at 78 Fed. 

Reg. 71535 (November 29, 2013)); and (2) the standard and definitions as in effect on January 

1, 2010, which are used to make such determinations shall apply after the date of the enactment 

of this Act for purposes of determining status under section 501(c)(4) of such Code of 

organizations created on, before, or after such date. 

SEC. 122. (a) Not later than 60 days after the end of each quarter, the Office of Financial 

Research shall submit reports on their activities to the Committees on Appropriations of the 

House of Representatives and the Senate, the Committee on Financial Services of the House of 

Representatives and the Senate Committee on Banking, Housing, and Urban Affairs. (b) The 

reports required under subsection (a) shall include— (1) the obligations made during the 

previous quarter by object class, office, and activity; (2) the estimated obligations for the 

remainder of the fiscal year by object class, office, and activity; (3) the number of full-time 

equivalents within each office during the previous quarter; (4) the estimated number of full-time 

equivalents within each office for the remainder of the fiscal year; and (5) actions taken to 

achieve the goals, objectives, and performance measures of each office. (c) At the request of any 

such Committees specified in subsection (a), the Office of Financial Research shall make 

officials available to testify on the contents of the reports required under subsection (a). 

SEC. 123. Notwithstanding any other provision of law, the unobligated balances from amounts 

made available to the Secretary of the Treasury for administrative expenses pursuant to sections 

4003(f) and 4112(b) of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 

116–136); section 421(f)(2) of Division N of the Consolidated Appropriations Act, 2021 (Public 

Law 116–260); sections 3201(a)(2)(B), 3206(d)(1)(A), and 7301(b)(5) of the American Rescue 

Plan Act of 2021 (Public Law 117–2); and section 602(a)(2) of the Social Security Act, as added 

by section 9901 of the American Rescue Plan Act of 2021 (Public Law 117–2), shall be available 

for any administrative expenses determined by the Secretary of the Treasury to be necessary to 

respond to the coronavirus, including but not limited to expenses necessary to implement any 

provision of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136), 

Division N of the Consolidated Appropriations Act, 2021 (Public Law 116–260), the American 

Rescue Plan Act (Public Law 117–2), or title VI of the Social Security Act: Provided, That such 

unobligated balances shall be available in addition to any other appropriations provided for 

such purposes. 

SEC. 124. Section 121 of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5231) is 

amended in subsection (e)(1)(B)(ii) by striking "subparagraph" and all that follows through the 

period at the end and inserting "subparagraph, the Special Inspector General may not make any 

appointment that exceeds 18 months or that extends beyond the date on which the Special 

Inspector General terminates under subsection (k).". 

SEC. 125. Not to exceed 5 percent of any appropriation made available in this Act for the 

Department of the Treasury may be transferred to the Department's information technology 

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

Supplemental Information Department of the Treasury - Budget in Brief 140
title X of division A of the National Defense Authorization Act for Fiscal Year 2018, for the 

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

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

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

through September 30, 2026. 

Supplemental Information Department of the Treasury - Budget in Brief 141
Department of the Treasury - Budget in Brief 142
Mandatory Funding Levels for the FY 2023 President’s Budget – Treasury Chapter 

(Dollars in Millions, Includes Legislative Proposals) 

Consolidated Rows, Final Table

Appropriations (Dollars in Millions) FY 2021 FY 2022 FY 2023 FY 2023 FY 2023

Actual Estimated Estimated $ Change % Change

Payment to the Resolution Funding Corporation 1,367 920 920 0 0.0%

Interest on Uninvested Funds 2 9 9 0 0.0%

Restitution of Forgone Interest 0 1,135 0 (1,135) -100.0%

Federal Interest Liabilities to States 0 1 1 0 0.0%

Interest Paid to Credit Financing Accounts 12,762 10,813 13,320 2,507 23.2%

Refunding Internal Revenue Collections, Interest 3,033 3,022 2,169 (853) -28.2%

Interest on Public Debt 562,388 562,235 580,638 18,403 3.3%

Other Interest (50,891) (55,355) (49,441) 5,914 -10.7%

INTEREST PAYMENTS $528,661 $522,780 $547,616 $24,836 4.8%

NON-COVID MANDATORY ACCOUNTS

Build America Bond Payments, Recovery Act 3,012 2,614 2,587 (27) -1.0%

Capital Magnet Fund, Community Development Financial Institutions 371 368 221 (147) -39.9%

Check Forgery Insurance Fund 21 1 1 0 0.0%

Cheyenne River Sioux Tribe Terrestrial Wildlife Habitat Restoration Trust Fund 1 1 1 0 0.0%

Child and Dependent Care Tax Credit 0 7,630 50 (7,580) -99.3%

Claims, Judgments, and Relief Acts 8,480 2,458 2,747 289 11.8%

Community Development Financial Institutions Fund Program Account 17 19 1 (18) -94.7%

Community Development Financial Institutions Fund Program, Emergency Support 3,000 0 0 0 0.0%

Community Financial Development Institutions Affordable Housing Supply Fund 1 0 0 5,000 5,000 0.0%

Comptroller of the Currency 1,166 1,191 1,191 0 0.0%

Continued Dumping and Subsidy Offset 4 10 9 (1) -10.0%

Exchange Stabilization Fund 11,655 50 353 303 606.0%

Federal Financing Bank 2,204 2,560 2,595 35 1.4%

Federal Reserve Bank Reimbursement Fund 620 665 685 20 3.0%

Federal Tax Lien Revolving Fund 1 3 3 0 0.0%

Financial Agent Services 909 1,015 1,011 (4) -0.4%

Financial Research Fund 69 92 94 2 2.2%

Fiscal Service Debt Collection 149 187 221 34 18.2%

GSE Mortgage-backed Securities Purchase Program Account 1 1 1 0 0.0%

Gulf Coast Restoration Trust Fund 317 308 309 1 0.3%

Internal Revenue Collections for Puerto Rico 520 524 451 (73) -13.9%

IRS Informant Payments 26 80 80 0 0.0%

IRS Miscellaneous Retained Fees 393 353 350 (3) -0.8%

IRS Private Collection Agent Program 217 150 169 19 12.7%

Office of Financial Stability 41 38 34 (4) -10.5%

Payment of Government Losses in Shipment 0 2 2 0 0.0%

Payment to Issuer of New Clean Renewable Energy Bonds 57 41 40 (1) -2.4%

Payment to Issuer of Qualified Energy Conservation Bonds 43 35 35 0 0.0%

Payment to Issuer of Qualified School Construction Bonds 797 563 559 (4) -0.7%

Payment to Issuer of Qualified Zone Academy Bonds 54 40 40 0 0.0%

Payment to United States Virgin Islands and Puerto Rico for Disaster Tax Relief 0 51 0 (51) -100.0%

Payment Where Adoption Credit Exceeds Liability for Tax 0 0 0 0 0.0%

Payment Where American Opportunity Credit Exceeds Liability for Tax 3,967 3,250 3,108 (142) -4.4%

Payment Where Certain Tax Credits Exceed Liability for Corporate Tax 9,160 1,294 10 (1,284) -99.2%

Payment Where Child Tax Credit Exceeds Liability for Tax 78,959 98,501 29,112 (69,389) -70.4%

Payment Where Earned Income Credit Exceeds Liability for Tax 60,757 68,453 57,135 (11,318) -16.5%

Payment Where Health Coverage Tax Credit Exceeds Liability for Tax 23 20 0 (20) -100.0%

Presidential Election Campaign Fund 24 25 25 0 0.0%

Refundable Premium Tax Credit 68,721 62,672 46,235 (16,437) -26.2%

Reimbursements to Federal Reserve Banks 157 183 188 5 2.7%

Small Business Lending Fund Program Account 2 2 2 0 0.0%

Terrorism Insurance Program 3 30 79 49 163.3%

Travel Promotion Fund 60 16 58 42 262.5%

Treasury Forfeiture Fund 696 580 577 (3) -0.5%

Troubled Asset Relief Program Equity Purchase Program 5 12 0 (12) -100.0%

Subtotal, NON-COVID MANDATORY ACCOUNTS $256,679 $256,088 $155,369 ($100,719) -39.3%

COVID MANDATORY ACCOUNTS

Air Carrier Worker Support 2 31,000 (3,200) 0 3,200 -100.0%

Coronavirus Relief Fund 362,050 0 0 0 0.0%

Economic Impact Payments 3 569,508 6,604 24 (6,580) -99.6%

Economic Stabilization Program Account 4 (477,890) (1,363) 0 1,363 -100.0%

Emergency Capital Investment Fund 9,000 0 0 0 0.0%

Supplemental Information Department of the Treasury - Budget in Brief 143
Total Department of the Treasury (Treasury) Mandatory Budget

The Treasury Mandatory Budget includes $690 billion dollars in interest payments, mandatory 

accounts, and offsetting receipts and collections (offsets). These accounts and the estimated 

budget authority are summarized above. For more detailed descriptions of each account, please 

see the Department of the Treasury chapter in the FY 2023 Appendix, Budget of the U.S. 

Government at: http://www.whitehouse.gov/omb/budget. 

Interest Payments - $548 billion 

These are permanent, indefinite funds for interest payments. This includes Interest on the Public 

Debt, which consists of all interest paid on Treasury securities sold to the public and to Federal 

Government trust funds, revolving funds and deposit funds. Treasury interest payment accounts 

also consist of Refunds on Internal Revenue Collections interest, Interest on Uninvested Funds, 

Interest paid to Credit Financing Accounts, Federal Interest Liabilities to the States, and 

Payments to the Resolution Funding Corporation.

Mandatory Accounts - $155 billion 

These are accounts for which the Congress has given the Department of the Treasury permanent 

authority to expend funds as appropriations. These include appropriations that fund a number of 

programs under Treasury jurisdiction such as the Terrorism Risk Insurance Program and the 

Treasury Forfeiture Fund. Other accounts that fall under mandatory programs include all 

Internal Revenue Service refundable tax credit accounts, certain user fees, and informant 

payments. The Department is also a custodian for a number of government accounts and funds 

listed in this section and further detailed in the FY 2023 Appendix, Budget of the U.S. 

Government. 

Treasury is responsible for administering multiple relief and recovery programs authorized 

through the Families First Coronavirus Response Act, Coronavirus Aid, Relief, and Economic 

Appropriations (Dollars in Millions) FY 2021 FY 2022 FY 2023 FY 2023 FY 2023

Actual Estimated Estimated $ Change % Change

Emergency Rental Assistance 46,547 0 0 0 0.0%

Fiscal Service Salaries and Expenses 5 23 0 0 00.0%

Homeowner Assistance Fund 9,958 0 0 0 0.0%

IRS Business Systems Modernization 5 500 0 0 00.0%

IRS Operations Support 5 940 0 0 00.0%

IRS Taxpayer Services 5 422 0 0 00.0%

Office of Inspector General 5 6 0 0 00.0%

State Small Business Credit Initiative 10,000 0 0 0 0.0%

Transportation Services Economic Relief 2,000 0 0 0 0.0%

Treasury Inspector General for Tax Administration 5 8 0 0 00.0%

U.S. Coronavirus Refundable Credits 3 10,143 9,000 20 (8,980) -99.8%

Subtotal, COVID MANDATORY ACCOUNTS $574,215 $11,041 $44 ($10,997) -99.6%

Offsets:

Treasury Mandatory Offsetting Receipts (22,140) (12,955) (8,622) 4,333 -33.4%

Treasury Offsetting Collections (15,048) (3,806) (4,143) (337) 8.9%

TOTAL, DEPARTMENT OF THE TREASURY $1,322,367 $773,148 $690,264 ($82,884) -10.7%

2

 The Infrastructure Investment and Jobs Act (PL 117-58) Section 90007 rescinded $3 billion from CARES Act Section 4120 budget authority and $200 million from the P.L 116-260 

Division N Sec. 411 budget authority.

5

 The American Rescue Plan Act (PL 117-2) provided Fiscal Service Salaries and Expenses, IRS Business Systems Modernization, IRS Operations Support, IRS Taxpayer Services, 

Office of Inspector General, Treasury Inspector General for Tax Administration mandatory funding in 2021.

4

 The Consolidated Appropriations Act, 2021 (P.L. 116-260) Sec. 1003 rescinded $478.8 billion in budget authority from this program in 2021 and the Infrastructure Investment and 

Jobs Act (PL 117-58) Sec. 90007 further rescinded $1.4 billion in 2022.

1

 The 2023 Budget proposes $5 billion in long-term mandatory funding to support lending by eligible CDFIs to finance new construction and substantial rehabilitation that creates net 

new units of affordable rental and for sale housing.

3 Current estimates include anticipated claims through FY 2023 for the third round of Economic Impact Payment Recovery Rebate Credits and the U.S. Coronavirus Refundable 

Credit Employee Retention Credits.

Supplemental Information Department of the Treasury - Budget in Brief 144
Security Act, Consolidated Appropriations Act, 2021, and the American Rescue Plan Act of 

2021. The Office of Recovery Programs, managed by the Chief Recovery Officer, is principally 

focused on efficiently establishing and administering Treasury’s programs to support an 

equitable and swift recovery from the economic challenges precipitated by the COVID-19 

pandemic. 

Offsets - $13 billion 

Offsets include payments to the Government that are not credited directly to expenditure 

accounts (offsetting receipts) and payments credited directly to accounts from which they will be 

spent (offsetting collections). The receipts offset gross budget authority and outlays at the agency 

or bureau level. The collections offset gross budget authority and outlays at the account level. 

Treasury’s mandatory offsetting receipts primarily include Government Sponsored Enterprises 

(GSE) fees, debt collection fees, and proceeds from air carrier equities received by Treasury 

pursuant to CARES Act, CAA, 2021 and ARP payroll support programs. Treasury’s mandatory 

offsetting collections include the payments made to accounts such as the Office of Comptroller 

of the Currency, Federal Financing Bank, and the Exchange Stabilization Fund. 

Supplemental Information Department of the Treasury - Budget in Brief 145