Department of the Treasury 

Bureau of Engraving and 

Printing (BEP) 

FY 2024 

Capital Investment Plan 
Major IT Investments .......................................................................................................... 3

MES Support ................................................................................................................................ 3

Major Non-IT Investments .................................................................................................. 4

Currency Production .................................................................................................................... 4

DC Replacement Facility ............................................................................................................. 6

Facilities Support ......................................................................................................................... 7

Manufacturing Support ................................................................................................................ 8

Security & Accountability ........................................................................................................... 8

WCF Facility Expansion .............................................................................................................. 9

 
Note to Reviewers: Consistent with the corresponding Summary of Capital 

Investments table, the columns included in the investment tables below are defined 

as: 

• FY 2022 Actuals – Total actual obligations 

• FY 2023 Estimated Obligations – Anticipated obligation from all 

budgetary resources (i.e., balances from prior years, user fees, and FY 2023 

Operating Plan levels). 

• FY 2024 President's Budget – Requested level reflecting the President’s 

FY 2024 budget submission 

Major IT Investments 

MES Support 

Description: 

Support Services to upgrade BEPs IT infrastructure and installation of new or upgraded software to 

support BEP's core manufacturing and support business processes with an integrated database. 

Investment Obligations: (In Millions of $): 

Type FY 2022 

Actual 

FY2023 

Estimated 

Obligations 

FY2024 

President's 

Budget 

Change 

in $ 

% 

Change 

Sub-Total DME Obligations (Including Internal 

labor (Govt. FTE)) 1 0 . 0 7 1 4 . 2 6 1 2 . 1 1 - 2 . 1 5 - 1 5 . 0 9 % 

Sub-Total O&M Obligations (Including Internal 

Labor (Govt. FTE)) 1 2 . 7 3 1 3 . 1 4 1 3 . 5 3 0 . 3 9 2 . 9 5 % 

Total Obligations 22.80 27.41 25.64 -1.76 -6.44% 

 Total Obligations and Change in $ may appear slightly off due to rounding to two decimals 

Purpose, Accomplishments, Future Objectives: 

BEP has implemented the Manufacturing Execution System (MES) comprised of the previous 

investments (BEP Enterprise Network) to improve overall management and automation of the BEP’s 

Currency Production and Direct Support processes. This initiative continued to increase the source data 

that is extracted from manufacturing equipment and improved the functionality of applications through 

further enhancements. During the second year of this investment, the BEP continued IT integration of 

new automated presses (e.g., Non – Sequential Large Examining and Printing Equipment (ns-LEPE), 

(Single Note Inspection (SNI) Inspection Finishing System (IFS), Rotary Press) into the MES solution 

including establishing bi-directional data feeds for NS-LEPE accountability data; identified use cases 

for artificial intelligence (AI) solutions and established an AI governance structure; upgraded MSS 

Interfaces to comply with TIER Reporting and DATA Act reporting requirements; streamlined Budget 

formulation to help reduce manual data entry and track budget approvals; enhanced the advance 
analytics model to predict processing lead times for purchasable inventory and support Supply Chain 

Management with inventory management optimization; developed the next generation MES 

architectures to improve system interoperability and performance; implemented data and analytics selfservice capabilities that will improve end-user data literacy and improve self-generated reporting; 

added single sign on capability to Identity Management; and established a self-service knowledge 

management portal that enables end-users to train or retrain on MES applications at their own time and 

pace. 

This investment will continue to improve data consistency, transparency, and accountability by 

providing BEP end-users with enhanced functionality. Some of the objectives of this investment are 

the establishment of standard user profiles in the Identify Management System that will accelerate user 

access to applications they need to do their jobs; Upgrading the Enterprise Service Bus to improve 

cybersecurity posture and improve data exchanges between applications; Mobile advancements with 

Supply Chain Management; Architectural Planning for Data Center Migration to New DC Facility 

(DCF) and initiate deployment of AI/ML technologies to support achievement of enterprise-wide 

strategic and operational goals. 

Major Non-IT Investments 

Currency Production 

Description: 

Currency Production is a multi-year refresh effort to retool its manufacturing processes with state-ofthe-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. 

Investment Obligations: (In Millions of $): 

Type 

FY 

2022 

Actual 

FY2023 

Estimated 

Obligations 

FY2024 

President's 

Budget 

Change 

in $ 

% 

Change 

Sub-Total DME Obligations (Including Internal 

labor (Govt. FTE)) 3 6 . 6 3 1 0 5 . 1 2 1 8 1 . 9 3 7 6 . 8 1 7 3 . 0 7 % 

Sub-Total O&M Obligations (Including Internal 

Labor (Govt. FTE)) 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 % 

Total Obligations 36.63 105.12 181.93 76.81 73.07% 

 Total Obligations and Change in $ may appear slightly off due to rounding to two decimals 

Purpose, Accomplishments, Future Objectives: 

Currency Production is a multi-year refresh effort to retool its manufacturing processes with state-ofthe-art intaglio printing presses, electronic inspection systems, and finishing equipment. To ensure 

BEP meets 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. The performance of this investment will be evaluated through the 

following two measures: 

1. Comparison of productivity of new equipment with existing equipment. 

2. Comparison of spoilage rates of new equipment with rates of existing equipment. 

FY 2023 major projects include: 

 Non-Sequential LEPE 

o Acquisition of two Non-sequential Large Examining and Printing Equipment (nsLEPE) for Western Currency Facility (WCF) and one ns-LEPE for DCF. 

o NS-LEPEs are capable of manufacturing larger sheet sizes allowing 50 versus 32 

notes on each sheet. This provides additional production capability. 

 New DCF Offset Presses 

o The new offset presses are expected to be delivered/installed on a yearly basis, 

corresponding with delivery/installation of new intaglio presses and other required 

equipment. Additional presses are also expected to be purchased for the existing 

WCF to complete and update their production line to support Catalyst family 

banknote production needs. 

 New DCF Foil Machines 

o This requirement provides production machines to apply hot foil features onto 

Catalyst designs, initial system for WCF and DCF. 

FY 2024 major projects include continuing the Physical Vapor Deposition (PVD) chrome projects and: 

 100 Finishing Line (Single Note Inspection (SNI)) 

o Acquisition of $100 Finishing Lines for both facilities. New line to include one (1) 

Numbering Letterpress (NL) and one (1) Cutting-Inspection-Packaging (C-SNI-P) 

machine for each facility. 

o New process will overprint serial numbers and seals in sheet format. Sheets will 

then be processed on Cutting-Inspection-Packaging machine that will sort 

individual notes by inspection results. Existing Banknote Processing System (BPS) 

machinery will be used as part of the new finishing line; two (2) C-SNI-P machines 

are required to support one (1) NL. 

 LEPE Upgrades 

o Represents upgrades to the 3 LEPE systems (2 WCF & 1 DCF) to replace obsolete 

components, improve performance and reliability, and to incorporate improvements 

from the ns-LEPE systems. 

 New DCF Foil Machines 

o To acquire production machines to apply hot foil features 
DC Replacement Facility 

Description: 

Construction of a new, more efficient currency production facility to replace aging infrastructure at the 

BEP's current Washington, DC facility to achieve increased efficiencies and reduced annual operating 

costs. 

Investment Obligations: (In Millions of $): 

Type 

FY 

2022 

Actual 

FY2023 

Estimated 

Obligations 

FY2024 

President's 

Budget 

Change 

in $ % Change 

Sub-Total DME Obligations (Including 

Internal labor (Govt. FTE)) 1 1 . 7 7 2 5 . 9 6 1 , 2 4 3 . 7 0 1 , 2 1 7 . 7 4 4 , 6 9 1 . 3 8 % 

Sub-Total O&M Obligations (Including 

Internal Labor (Govt. FTE)) 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 % 

Total Obligations 11.77 25.96 1,243.70 1,217.74 4,691.38% 

 Total Obligations and Change in $ may appear slightly off due to rounding to two decimals 

Purpose, Accomplishments, Future Objectives: 

Construction of a new more efficient currency production facility to replace the aging infrastructure at the 

BEP's current Washington, D.C. facility will achieve increased efficiencies and reduced annual operating 

costs. The existing BEP currency production facility in Washington, D.C. (DCF) is comprised of two 

multi-level, multi-wing buildings - the Main building and Annex building. Both buildings, constructed in 

the early 1900's, are costly to maintain and are obsolete in relation to modernized currency printing 

technology. The current building layout results in increased time, cost and spoilage for delivery, transport 

and storage of raw materials and inventories of currency products throughout the manufacturing process. 

The aging infrastructure exposes the DCF to vulnerabilities related to potential failures and inefficiencies 

of facility systems, such as HVAC, electrical and plumbing; code compliance; physical and product 

security. 

BEP is conducting a suitability assessment of the site in Beltsville, MD with the support from the U.S. 

Army Corps of Engineers. A replacement facility will save an estimated $568 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. 

In FY 2022, BEP obligated $11.8 million in support of the early site development construction. In FY 

2023, BEP obligated $26 million for demolition contract and other site development. The remaining cost 

estimate for the DC Replacement Facility was revised based on ongoing United States Army Corps of 

Engineers (USACE) market research. The initial anticipated obligation of $897 million was revised to an 

anticipated FY 2024 obligation of $1.24 billion for the next phase of the replacement facility project. 
Facilities Support 

Description: 

BEP maintains the District of Columbia Facility (DCF) and the Western Currency Facility (WCF). BEP 

occupies/uses these facilities (owned by the Treasury Department) and is responsible for 

maintenance/repairs of all buildings and land improvements. 

Investment Obligations: (In Millions of $): 

Type 

FY 

2022 

Actual 

FY2023 

Estimated 

Obligations 

FY2024 

President's 

Budget 

Change 

in $ 

% 

Change 

Sub-Total DME Obligations (Including Internal 

labor (Govt. FTE)) 5 . 1 1 3 9 . 6 7 1 1 . 9 5 - 2 7 . 7 3 - 6 9 . 8 9 % 

Sub-Total O&M Obligations (Including Internal 

Labor (Govt. FTE)) 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 % 

Total Obligations 5.11 39.67 11.95 -27.73 -69.89% 

 Total Obligations and Change in $ may appear slightly off due to rounding to two decimals 

Purpose, Accomplishments, Future Objectives: 

BEP maintains the DCF and the WCF and is responsible for maintenance and repairs of all buildings and 

land improvements while the Treasury Department maintains ownership of these facilities. The facilities 

house manufacturing equipment, manufacturing and information technologies, equipment and human 

resources used to support the manufacture of United States Currency and other secure printing 

documents. 

In FY 2022, Facilities Support consisted of major projects supporting both WCF and DCF. Major projects 

included Switchgear replacement, Central Plant Cooling Tower Refurbishment, Plate Printing Subsurface 

containment redesign, and Air Handler Refurbishment. 

In FY 2023, major facility projects for DCF include the Office of Currency Manufacturing (OCM) 

Renovation & Work-In-Progress (WIP) Storage, which provides more efficient improved process flows 

and additional space for WIP storage. DCF support also includes switchgear replacement for the main 

building, the gears are 35 years old and in need of immediate replacement. WCF major projects include 

the Air Handler Refurbishment, Air and Vacuum pump upgrade, Building automation system upgrades, 

Solar/Renewable Energy project and Pre-wipe Tank Replacement. In addition, WCF is securing a New 

Federal Reserve Vault Automated Racking System, an additional Pre-wipe Tank Replacement, and Offset 

Plant Chiller upgrades. 

In FY 2024, major projects include the continuations of DCF’s OCM Renovation & WIP Storage Space, 

install of new Regenerative Thermal Oxidizer (RTO), and an additional Switchgear Replacement for the 

main building. WCF’s major projects include Air Handler Refurbishment, Building automation system 

upgrades, Electrical Substations and Safety Upgrades as well as Parking Lot/Perimeter Road Repairs. 
Manufacturing Support 

Description: 

To purchase equipment to support the manufacturing of U.S. currency. 

Investment Obligations: (In Millions of $): 

Type 

FY 

2022 

Actual 

FY2023 

Estimated 

Obligations 

FY2024 

President's 

Budget 

Change 

in $ 

% 

Change 

Sub-Total DME Obligations (Including Internal 

labor (Govt. FTE)) 6 . 8 1 2 9 . 6 4 9 . 8 2 - 1 9 . 8 3 - 6 6 . 8 9 % 

Sub-Total O&M Obligations (Including Internal 

Labor (Govt. FTE)) 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 % 

Total Obligations 6.81 29.64 9.82 -19.83 -66.89% 

 Total Obligations and Change in $ may appear slightly off due to rounding to two decimals 

Purpose, Accomplishments, Future Objectives: 

The purpose of this project is to support the manufacturing of U.S. currency. It is a multi-year project 

replacing older, fully depreciated manufacturing support equipment at both of BEP’s facilities. Replacing 

out-of-date equipment on a regular basis allows BEP to be more cost effective and efficient in meeting 

customer requirements for the production of currency notes. New manufacturing support equipment is 

typically more energy efficient, eco-friendly and reduces machine down time. In addition, new support 

equipment acquired by BEP has the technical capability of producing the next generation of advanced 

counterfeit deterrence features for future design enhancements. The performance of this investment will 

be evaluated through the following two measures: 1. Comparison of productivity of new equipment with 

existing equipment. 2. Comparison of spoilage rates of new equipment with rates of existing equipment. 

FY 2022 major investments include pallets for currency movement and initial funding for the 

Jogger/aerator used to prepare sheets for automatic feeding in BEP print and inspect operations. FY 2023 

includes E-material Online Inspection Equipment which feature state-of-the-art technologies that will 

improve the expected lifespan of the light source and other key components of the units thereby ensuring 

the reliability and accurateness of the units. FY 2023 also includes CTO Equipment upgrades needed to 

upgrade the existing OptiNota (Printing Press) H with inline UV curing capability for hot foil security 

features. This investment will also continue through FY 2024. 

Security & Accountability 

Description: 

Security and Accountability improvement projects include surveillance, security and infrastructure 

upgrades to Washington, D.C., and Western Currency facilities. 
Investment Obligations: (In Millions of $): 

Type 

FY 

2022 

Actual 

FY2023 

Estimated 

Obligations 

FY2024 

President's 

Budget 

Change 

in $ 

% 

Change 

Sub-Total DME Obligations (Including Internal 

labor (Govt. FTE)) 1 . 0 8 1 1 . 9 6 1 . 9 7 - 9 . 9 9 - 8 3 . 5 1 % 

Sub-Total O&M Obligations (Including Internal 

Labor (Govt. FTE)) 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 % 

Total Obligations 1.08 11.96 1.97 -9.99 -83.51% 

 Total Obligations and Change in $ may appear slightly off due to rounding to two decimals 

Purpose, Accomplishments, Future Objectives: 

Security and Accountability improvement projects include surveillance, security and infrastructure 

upgrades to Washington and Western Currency facilities. BEP did not fund any Security and 

Accountability investments in FY 2022. In FY 2023, BEP's security and accountability improvements 

include Unarmed Officers for Closed Circuit Television and DCF/WCF Radio System Upgrades. FY 

2024 projects include a modernization of WCF Cameras and Infrastructure and additional funding for 

unarmed officers for closed circuit television. 

WCF Facility Expansion 

Description: 

A proposed expansion to the Western Currency Facility (WCF) in Fort Worth, TX, adding about 250,000 

square feet of new space, to support additional production capabilities required for the accelerated 

currency redesign of the $5, $10 and $20 notes. 

Investment Obligations: (In Millions of $): 

Type FY 2022 

Actual 

FY2023 

Estimated 

Obligations 

FY2024 

President's 

Budget 

Change 

in $ 

% 

Change 

Sub-Total DME Obligations (Including Internal 

labor (Govt. FTE)) 1 3 . 0 0 8 . 4 0 0 . 0 0 - 8 . 4 0 - 1 0 0 . 0 0 % 

Sub-Total O&M Obligations (Including Internal 

Labor (Govt. FTE)) 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 0 . 0 0 % 

Total Obligations 13.00 8.40 0.00 -8.40 -100.00% 

 Total Obligations and Change in $ may appear slightly off due to rounding to two decimals 

Purpose, Accomplishments, Future Objectives: 

This project is an expansion to the Western Currency Facility (WCF) in Fort Worth, TX. The expansion 

will add approximately 250,000 square feet to the existing facility which will accommodate additional 

production capabilities to support the next family of currency design, including space for up to five Hot 

Foil presses, two LEPEs, tactile feature equipment, undefined future production machineries, reclamation 

efforts, new plating line, additional vault/ WIP space, enclosed truck cells, production support, and central 

utility plant upgrade. The expansion will include structural enhancements to provide better protection 

against severe weather and possible security threats. The scope includes the security-related requirements 

and construction of an additional parking area to accommodate increased staffing necessary for the new 

equipment. 
In FY 2023, the budget included an anticipated $8.4 million for Supervision, Inspection & Overhead 

labor to complete the construction project to include a contingency based on the risk associated with the 

remaining critical components of the expansion facility. These components include electrical/security 

integration, equipment commissioning, and unforeseen conditions/constructability. There are currently 

no additional funds forecasted for FY 2024 for the WCF Facility Expansion.