Department of the Treasury

Departmental Offices

Salaries and Expenses

Congressional Budget 

Justification and Annual 

Performance Report and Plan

FY 2019 
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Table of Contents

Section I – Budget Request........................................................................................................... 3

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

B – Summary of the Request...................................................................................................... 3

1.1 – Appropriations Detail Table............................................................................................................4

1.2 – Budget Adjustments Table..............................................................................................................4

C – Budget Increases and Decreases Description ...................................................................... 5

1.3 – Operating Levels Table...................................................................................................................6

D – Appropriations Language and Explanation of Changes...................................................... 7

E – Legislative Proposals........................................................................................................... 7

Section II – Annual Performance Plan and Report................................................................... 8

A – Strategic Alignment ............................................................................................................. 8

B – Budget and Performance by Budget Activity ...................................................................... 8

2.1.1 – Executive Direction Resources and Measures..............................................................................8

2.1.2 – International Affairs and Economic Policy Resources and Measures..........................................9

2.1.3 – Domestic Finance and Tax Policy Resources and Measures......................................................14

2.1.4 – Treasury-wide Management and Programs Resources and Measures........................................19

C – Changes in Performance Measures.................................................................................... 24

Section III – Additional Information ........................................................................................ 25

A – Summary of Capital Investments....................................................................................... 25
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Section I – Budget Request

A – Mission Statement

Maintain a strong economy and create economic and job opportunities by promoting conditions 

that enable economic growth and stability at home and abroad and manage the U.S. 

Government’s finances and resources effectively.

B – Summary of the Request 

The Department of the Treasury’s (Treasury) Strategic Plan for FY 2018-2022 guides program 

and budget decisions for the Departmental Offices (DO). The FY 2019 Budget Request supports 

DO’s leading role in accomplishing Treasury’s strategic goals:

 Boost U.S. Economic Growth

 Promote Financial Stability

 Enhance National Security

 Transform Government-wide Financial Stewardship

 Achieve Operational Excellence

Staffing and Full-Time Equivalent (FTE) Reduction

The Budget re-emphasizes the FTE reductions Treasury committed to in the FY 2018 President’s 

Budget. DO continues to streamline its workforce by finding more efficient ways to manage its 

programs and support the Presidential Executive Order for reorganizing the Executive Branch to 

improve the efficiency, effectiveness, and accountability of federal agencies.

Transfer of Administrative Support Programs to the Treasury Franchise Fund

The Budget proposes to transfer approximately $148.109 million and 165 direct FTE and 42 

reimbursable FTE for direct and reimbursable DO administrative services to the Treasury 

Franchise Fund to consolidate broad-scale administrative functions and capital investment 

activities into one account and to provide one governance process for reimbursable programs in 

DO. This transfer supports 22 customers and reimbursable agreements and 14 different 

programs.

The transfer and incorporation into the Franchise Fund structure provide the following benefits

to the Department and effected customers:

 Allows for more effective information technology (IT) and building infrastructure 

investments over multiple fiscal years and provides stability during a continuing resolution 

for more efficient contract execution.

 Provides customers with the consolidation of like services, consistent points of contact 

(POCs) for service providers, less confusion during budget execution, and increased, direct 

customer involvement through joint governance.

 Simplifies budget formulation and execution and allows for better staff leverage across 

functions. 

 Streamlines DO cash management as services would be paid for in consistent monthly 

amounts rather than billed in arrears based on actuals.
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Budgetary Resources for DO administrative services would continue to be presented in the DO 

Salaries and Expenses (SE) account. DO SE will purchase administrative services from the 

Franchise Fund. Effective in FY 2019 the Fund will reflect the FTE associated with these 

services. 

Financial Literacy

More than 20 agencies administer programs to educate Americans about financial topics – but 

the effectiveness of these programs is not known. Under the Treasury Department’s leadership

of the Financial Literacy and Education Commission, we will better coordinate financial literacy 

programs across government to increase effectiveness and reduce fragmentation. Evaluating 

existing activities will help identify best practices and areas for streamlining. This approach will 

ensure that that federal financial education activities are coordinated around a shared set of 

government-wide goals, meet federal standards for effectiveness, and leverage best practices. 

1.1 – Appropriations Detail Table

Dollars in Thousands

Note: 

1. FY 2017 FTE are actuals. 

2. Excluded from the Appropriations Detail table is $28,000 for FY 2017 and $27,810 for FY 2018. These amounts represent 

administrative support for Terrorism and Financial Intelligence.

3. The FY 2017 Enacted column reflects levels appropriated in H.R. 255, the Consolidated Appropriations Act of 2017. For further 

details on the execution of these resources see the 2019 Budget Appendix chapter for the Department of the Treasury.

1.2 – Budget Adjustments Table

DO Salaries and Expenses

Appropriated Resources

New Appropriated Resources FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT

Executive Direction 140 $39,127 147 $38,937 113 $37,004 (34) ($1,933) -23.13% -4.96%

Domestic Finance and Tax Policy 313 $81,719 305 $80,948 224 $71,070 (81) ($9,878) -26.56% -12.20%

International Affairs and Economic Policy 257 $60,402 259 $60,082 195 $54,506 (64) ($5,576) -24.71% -9.28%

Treasury-w ide Management and Programs 146 $43,128 145 $42,885 114 $39,171 (31) ($3,714) -21.38% -8.66%

Subtotal New Appropriated Resources 856 $224,376 856 $222,852 646 $201,751 (210) ($21,101) -24.53% -9.47%

Other Resources

 Reimbursables 99 $76,458 100 $80,000 58 $12,066 (42) ($67,934) -42.00% -84.92%

Subtotal Other Resources 99 $76,458 100 $80,000 58 $12,066 (42) ($67,934) -42.00% -84.92%

Total Budgetary Resources 955 $300,834 956 $302,852 704 $213,817 (252) ($89,035) -26.36% -29.40%

FY 2017 FY 2018 FY 2018 to FY 2019

Enacted Annualized CR Request Change % Change

FY 2019

DO Salaries and Expenses FTE Amount

FY 2018 Annualized Continuing Resolution 856 $222,852

Changes to Base:

Maintaining Current Levels (MCLs): 0 $1,862

Pay Annualization 0 $677

Non-Pay 0 $1,185

Efficiency Savings (45) ($22,963)

Reduce Contracts, Supplies, and Equipment 0 ($8,266)

Streamline Staffing (45) ($14,697)

Transfers (165) $0

Centralized Treasury Administrative Services to 

the Treasury Franchise Fund (165) $0

Subtotal Changes to Base (210) ($21,101)

Total FY 2019 Request 646 $201,751

Dollars in Thousands
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C – Budget Increases and Decreases Description

Maintaining Current Levels (MCLs) ......................................................+$1,862,000 / +0 FTE

Pay Annualization +$677,000 / +0 FTE 

Funds are requested for annualization of the January 2018 pay-raise.

Non-Pay +$1,185,000 / +0 FTE 

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

equipment.

Efficiency Savings.....................................................................................-$22,963,000 / -45 FTE

Reduce Contracts, Supplies, and Equipment -$8,266,000 / +0 FTE 

DO will achieve savings through reductions to non-labor activities, such as service contracts, 

equipment, and supplies. These savings include potential reductions in advisory services, 

electronic data and periodical subscriptions, warehouse footprint, janitorial and landscaping 

services, FOIA assistance, and contractual support related to the American Recovery and 

Reinvestment Act.

Streamline Staffing -$14,697,000 / -45 FTE 

To align with the Administration’s goal to rebuild the national defense and invest in the Nation’s 

most pressing security needs, DO is implementing a staffing streamlining effort to maximize

effectiveness and efficiency while ensuring appropriate levels for meeting Treasury’s mission 

and objectives. 

Transfers.................................................................................................................+$0 / -165 FTE

DO Administrative Services to the Treasury Franchise Fund +$0 / -165 FTE 

DO proposes to move administrative services to the Treasury Franchise Fund in FY 2019 to 

consolidate broad-scale administrative functions and capital investment activities into one 

account. It would also provide one governance process for reimbursable programs in DO. The 

Franchise Fund structure would allow for more effective capital investments over multiple fiscal 

years and provide stability during a continuing resolution for more efficient contract execution. 

Customers would benefit from the consolidation of like services, consistent points of contacts for 

service providers, less confusion during budget execution, and increased, direct customer 

involvement through joint governance. Administrative programs would benefit because they 

would budget for and execute all services in one account and be able to better leverage staff 

across functions. The move also would streamline cash management because services would be 

paid for in consistent monthly amounts rather than billed in arrears based on actuals.
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1.3 – Operating Levels Table

Dollars in Thousands

DO Salaries and Expenses FY 2017 FY 2018 FY 2019

Object Classification Enacted Annualized CR Request

11.1 - Full-time permanent 113,585 112,814 82,660 

11.3 - Other than full-time permanent 1,620 1,609 1,760 

11.5 - Other personnel compensation 2,079 2,065 2,535 

11.9 - Personnel Compensation (Total) 117,284 116,488 86,955 

12.0 - Personnel benefits 33,571 33,343 26,741 

Total Personnel and Compensation Benefits $150,855 $149,831 $113,696 

21.0 - Travel and transportation of persons 4,239 4,210 3,299 

22.0 - Transportation of things 367 365 171 

23.1 - Rental payments to GSA 850 844 281 

23.2 - Rental payments to others 893 887 1,004 

23.3 - Communications, utilities, and miscellaneous charges 407 404 94 

24.0 - Printing and reproduction 135 134 6 

25.1 - Advisory and assistance services 19,767 19,633 8,503 

25.2 - Other services from non-Federal sources 7,985 7,931 3,591 

25.3 - Other goods and services from Federal sources 25,869 25,693 64,924 

25.5 - Research and development contracts 2,447 2,430 0 

25.7 - Operation and maintenance of equipment 613 609 227 

26.0 - Supplies and materials 3,817 3,791 2,706 

31.0 - Equipment 6,132 6,090 3,249 

Total Non-Personnel $73,521 $73,021 $88,055 

New Budgetary Resources $224,376 $222,852 $201,751 

FTE 856 856 646 

Notes: 

1. FY 2017 FTE are actuals.

2. Excluded from the Operating Levels table is $28,000 for FY 2017 and $27,810 for FY 2018. These amounts represent 

administrative support for Terrorism and Financial Intelligence.

3. The FY 2017 Enacted column reflects levels appropriated in H.R. 255, the Consolidated Appropriations Act of 2017. For further 

details on the execution of these resources see the 2019 Budget Appendix chapter for the Department of the Treasury.
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D – Appropriations Language and Explanation of Changes

Appropriations Language Explanation of 

Changes

DEPARTMENT OF THE TREASURY

DEPARTMENTAL OFFICES

Federal Funds

SALARIES AND EXPENSES

(INCLUDING TRANSFER OF FUNDS)

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 and 

local entities; and Treasury-wide management policies and programs 

activities, $201,751,000: Provided, That of the amount appropriated 

under this heading—

(1) not to exceed $700,000 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 $24,000,000 shall remain available until 

September 30, 2020, 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 Critical Infrastructure Protection and Compliance 

Policy, including entering into cooperative agreements;

(E) operations and maintenance of facilities; and

(F) international operations.

Note.—A full-year 2018 appropriation for this account was not enacted 

at the time the budget was prepared; therefore, the budget assumes this 

account is operating under the Continuing Appropriations Act, 2018 

(Division D of P.L. 115–56, as amended). The amounts included for

2018 reflect the annualized level provided by the continuing resolution.

The Department of 

the Treasury, on 

behalf of the United 

States, will assume 

the Presidency of 

the Financial 

Action Task Force 

(FATF) in 

2019. Organized 

by the G7 in 1989 

to focus on money 

laundering, the 

FATF has grown to 

include nearly 40 

members and its 

mandate has 

expanded to include 

terrorist financing 

and proliferation 

financing as well as 

money 

laundering. The 

Administration 

requests an increase 

to the Department’s 

official reception 

and representation 

expenses authority 

to allow the Office 

of Terrorism and 

Financial 

Intelligence to 

support the FATF 

plenary meetings 

and the role and 

duties of the 

Presidency of such 

Task Force.

E – Legislative Proposals

Sec. 129 - Amounts made available under the heading "Office of Terrorism and Financial 

Intelligence" shall be available to reimburse the "Departmental Offices—Salaries and Expenses" 

account for expenses incurred in such account for reception and representation expenses to 

support activities of the Financial Action Task Force.
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Section II – Annual Performance Plan and Report

 

A – Strategic Alignment

DO is Treasury’s headquarters bureau. It provides leadership in economic and financial policy, 

financial intelligence and enforcement, and general management. Treasury utilizes effective 

management, policies, and leadership to protect our national security through targeted financial 

actions, to promote the stability of the nation’s financial markets, and to ensure the government’s 

ability to collect revenue and fund its operations. DO aligns to all Treasury strategic goals and 

objectives. Specific alignment by budget activity is indicated below.

B – Budget and Performance by Budget Activity

2.1.1 Executive Direction Resources and Measures

Dollars in Thousands

Resource Level FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Actual Actual Actual Actual Actual Annualized 

CR Request

Appropriated Resources $35,763 $34,588 $35,313 $37,778 $36,706 $38,937 $37,004

Other Resource $4,691 $15,137 $21,677 $29,632 $22,997 $30,491 $4,308 

Budget Activity Total $40,454 $49,725 $56,990 $67,410 $59,703 $69,428 $41,312

FTE 156 162 189 206 169 187 137

Executive Direction Budget and Performance

($37,004,000 from direct appropriation, $4,308,000 from reimbursable resources): 

The Executive Direction program area provides direction and policy formulation to DO and the 

rest of Treasury and interacts with Congress and the public on policy matters. 

No specific performance goals/measures are presented for this budget activity because the work 

of these offices is captured within the other budget activities.
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2.1.2 International Affairs and Economic Policy Resources and Measures

Dollars in Thousands

Resource Level FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Actual Actual Actual Actual Actual Annualized 

CR Request

Appropriated Resources $56,804 $56,265 $57,362 $59,061 $60,613 $60,082 $54,506

Other Resource $2,275 $4,891 $5,896 $14,680 $10,617 $8,373 $1,888

Budget Activity Total $59,079 $61,156 $63,258 $73,741 $71,230 $68,455 $56,394

FTE 232 226 259 272 268 265 197

Measure FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2017 FY 2018 FY 2019

Actual Actual Actual Actual Actual Target Target Target

IA - Monitor Quality and Enhance 

Effectiveness of International 

Monetary Fund (IMF) Lending 

Through Review of IMF Country 

Programs

100 100 100 100 100 100 100 100

IA - Monitor Quality and Enhance 

Effectiveness of MDB Lending 

Through Review of MDB Grant and 

Loan Proposals

100 100 100 100 100 100 100 100

IA - Percentage of MDB Grant and 

Loan Proposals Containing 

Satisfactory Frameworks for Results 

Measurement

92 93 93 89 96 94 95 95

IA - Timely Review of CFIUS Cases 100 100 100 100 100 100 100 100

OTA - Program Engagement 3.8 3.7 3.8 3.9 4.0 3.6 3.6 3.6

International Affairs and Economic Policy Budget and Performance 

($54,506,000 from direct appropriation, $1,888,000 from reimbursable resources): 

The offices in this budget activity promote economic growth in the U.S. by producing technical 

economic analyses for the Secretary and advancing U.S. economic and financial policy priorities 

around the world. 

Office of International Affairs (IA)

This office supports the following strategic objectives for Strategic Goal 1, to boost U.S. 

economic growth:

 Objective 1.2 – Strong Economic Fundamentals: Spur faster economic growth by right-sizing 

Treasury and other regulations and advancing domestic economic policies that boost 

investment, employment, and innovation. 

 Objective 1.4 – Free and Fair Trade: Advance a free and fair trade environment for U.S. 

businesses through successful negotiation of trade agreements and investment policies. 

This office supports the following strategic objectives for Strategic Goal 2, to promote financial 

stability: 

 Objective 2.2 – Foreign Exchange Practices: Achieve fair foreign exchange practices through 

multilateral engagement with international partners. 
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 Objective 2.3 – Foreign Technical Assistance: Provide technical assistance to enable foreign 

partner countries to better raise and manage financial resources and protect their financial 

sectors. 

This office supports the following strategic objectives for Strategic Goal 3, to enhance national 

security: 

 Objective 3.1 – Strategic Threat Disruption: Identify, dismantle, and disrupt priority threats 

to the U.S. and international financial system. 

 Objective 3.3 – Economic Strength and National Security: Advance American prosperity and 

security through growth, investment, trade, and expanding the American industrial base 

while protecting national security. 

This office supports the following strategic objective for Strategic Goal 4, to transform 

government-wide financial stewardship: 

 Objective 4.1 – Financial Data Access/Use: Increase the access and use of federal financial 

data to strengthen government-wide decision-making, transparency, and accountability. 

This office supports the following strategic objective for Strategic Goal 5, to achieve operational 

excellence:

 Objective 5.1 – Workforce Management: Foster a culture of innovation to hire, engage, 

develop, and optimize a diverse workforce with the competencies necessary to accomplish 

our mission. 

In FY 2017, the Office of International Affairs (IA) worked to put in place policies that achieve 

faster U.S. and global growth and higher after-tax wages for American workers. This involved 

ambitious reforms for taxes, regulation, trade, the budget, energy, financial regulation, 

infrastructure, and international relations, all of which will continue into FY 2018. 

In its role as lead for international negotiations on non-insurance financial services and transfers, 

Treasury pursued critical financial services commitments and robust transfer provisions of trade 

and investment negotiations. Treasury plays a key role in the North America Free Trade 

Agreement (NAFTA) negotiations, aimed at working towards a more balanced agreement. 

Treasury also plays an important U.S. Government role on broader trade issues such as State 

Owned Enterprises, Customs, and other trade related disciplines that impact Treasury 

equities. Treasury is playing a lead role in analyzing the implications for U.S. financial services 

firms of the United Kingdom’s exit from the European Union. In addition, as the U.S. lead in 

negotiating reductions of export finance subsidies, Treasury continues to press China and other 

major providers of export finance to agree to disciplines on government support, so that U.S. 

exporters can compete globally on a level playing field. These efforts serve not only to enhance 

U.S. competitiveness but also move export credit financing to a more market basis consistent 

with Congressional mandates.

Treasury works to address the large and persistent global imbalances and unfair currency 

practices that threaten strong and sustainable U.S. economic growth. Treasury seeks to level the 

playing field for U.S. businesses through multilateral and bilateral engagements on foreign 

exchange practices. Treasury does this via multilateral and bilateral activities working through 

the International Monetary Fund (IMF) and the Group of 20 Nations (G-20). The G-20 Finance 
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Ministers agreed to a regular IMF report assessing progress toward achieving strong, sustainable, 

and balanced growth, as well as the potential for policy development and policy issues related to 

achieving faster and more sustainable adjustment of external imbalances. Treasury is also 

focused on combatting unfair currency practices that disadvantage U.S. industry and workers 

and, to this end, has strengthened the semi-annual surveillance of the exchange rate practices of 

major U.S. trading partners. Treasury also continues to press for stronger exchange rate 

surveillance in the IMF. 

Treasury continues to enhance its oversight of the multilateral development banks’ (MDB)

policies and programs, particularly with respect to the expansion of their loan programs when 

market financing is generally plentiful. In particular this year, Treasury worked with the World 

Bank and others to establish the Women Entrepreneurs Finance Initiative to create a holistic 

public and private sector approach to addressing the constraints faced by female entrepreneurs 

and help fill a major gap in women’s access to finance. 

IA rebalanced resource allocations to reflect changing mission requirements. Areas addressed in 

the reallocation include the increasing demands associated with chairing the Committee on 

Foreign Investment in the United States (CFIUS). IA continued to direct additional existing 

staffing resources to increase its capacity to manage a record-breaking caseload in terms of 

volume and complexity. Treasury, as chair of CFIUS, coordinates an interagency process to 

review certain foreign investments for national security risks in accordance with the procedures 

and tight deadlines specified in law and regulation. 

 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 FY 2017.

IA’s target for this measure in FY 2018 and FY 2019 is 100 percent.

Treasury promotes economic growth by managing U.S. participation and leveraging U.S. 

leadership positions in the International Financial Institutions in order to mitigate emerging 

threats to the U.S. and global economies; support international trade and investment; and 

reinforce U.S. national security interests in key countries around the world. 

 Monitor Quality and Enhance Effectiveness of IMF Lending through Review of IMF 

Country Programs: This measure tracks efforts by IA staff to monitor the quality of IMF 

country programs and ensure the application of appropriately high standards for the use of 

IMF resources. The target (100 percent) was met in FY 2017. In FY 2018 and FY 2019, 

IA’s target for this measure remains 100 percent.

 Monitor Quality and Enhance Effectiveness of MDB Lending through Timely Review of 

MDB Grant and Loan Proposals: IA reviews MDB loan and grant proposals to ensure that 

funded projects meet several key goals, which include supporting long-term U.S. objectives, 

having a measurable development impact, and being consistent with congressional mandates. 

The target (100 percent) was met in FY 2017. In FY 2018 and FY 2019, IA aims to continue 

its review of 100 percent of MDB loan and grant proposals prior to the date of the relevant 

Executive Board meeting and increase its oversight of projects during implementation.
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 Percentage of MDB Grant and Loan Proposals Containing Satisfactory Frameworks for 

Results Measurement: This measure tracks the percentage of grant and loan project proposals 

that contain a satisfactory framework for measuring project results (such as outcome 

indicators, quantifiable and time-bound targets, etc.) This information is measured on an 

annual basis. In FY 2017, 96 percent of MDB grant and loan project proposals had excellent 

or satisfactory ratings for the results matrices, a significant increase from FY 2016. The 

FY 2018 target is 95 percent, and the FY 2019 target is 95 percent.

Treasury’s Office of Technical Assistance (OTA) complements Treasury’s international 

economic and terrorist financing policy work. Treasury’s offices of International Affairs and 

Terrorism and Financial Intelligence advocate for improvements in economic and terrorist 

financing policies internationally. OTA helps the governments of developing and transition 

countries build the human and institutional capacity to implement such policy improvements. 

Finance ministries and central banks of developing countries that have demonstrated a strong 

commitment to reforming their financial systems or public financial management can receive 

direct assistance from OTA through its cadre of expert advisors. The technical assistance team 

leverages its funding to increase transparency and accountability, reduce corruption, and 

strengthen the development of market-based policies and practices in these economies. 

OTA support promotes more effective use of a country’s own resources and helps reduce 

dependency on foreign aid. This work also supports stabilization of financial sectors in national 

security/foreign policy priority countries (e.g., Ukraine), more transparent and accountable 

financial sectors for U.S. investors overseas, and the expansion of markets for U.S. exporters, 

thus promoting jobs and economic growth at home. 

 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. Counterpart engagement is both a key outcome of 

OTA efforts to structure and execute effective technical assistance projects that support host 

country ownership as well as the most crucial input to the successful achievement of the 

intermediate goals and ultimate outcomes described in the project’s terms of reference and 

work plan during the fiscal year – such as passage of law or regulation, an increase in 

government revenues, an improvement in a government’s credit rating, or a reduction in 

economic crimes. The measure is scored on a 5-point scale and averaged across all projects 

to provide one overall measure of OTA’s performance. In FY 2017, the Traction score was

4.0, exceeding the target of 3.6. In FY 2018 and FY 2019, IA’s target for Traction is 3.6.

Office of Economic Policy (EP)

This office supports the following strategic objective for Strategic Goal 1, to boost U.S. 

economic growth:

 Objective 1.2 – Strong Economic Fundamentals: Spur faster economic growth by right-sizing 

Treasury and other regulations and advancing domestic economic policies that boost 

investment, employment, and innovation.

This office supports the following strategic objective for Strategic Goal 3, to enhance national 

security: 

 Objective 3.2 – AML/CFT Framework: Identify and reduce vulnerabilities in the U.S. and 

international financial system to prevent abuse by illicit actors. 
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This office supports the following strategic objective for Strategic Goal 5, to achieve operational 

excellence:

 Objective 5.1 – Workforce Management: Foster a culture of innovation to hire, engage, 

develop, and optimize a diverse workforce with the competencies necessary to accomplish 

our mission. 

During the past year, EP staff in the Office of Macroeconomic Analysis closely monitored U.S. 

economic performance, producing many hundreds of succinct, quick-turn reports on more than 

50 recurring economic indicators. In related work, the office produced memos for the 

Secretary covering pre-release data reports on roughly ten recurring economic indicators. The 

office’s high-quality analytic updates served as DO’s main internal source of information on 

U.S. macroeconomic developments and informed a wide range of high-level engagements and 

official publications, including the Treasury Bulletin, Bank/Fund meetings, the report to 

Congress titled, “Foreign Exchange Policies of Major Trading Partners of the U.S.,” the 

Quarterly Refunding Report, the Annual Financial Report, and many ad hoc requests for U.S. 

economic background material. The Macro office also served as Treasury’s lead in the “Troika” 

process, a semi-annual exercise in which Treasury, the Office of Management and Budget 

(OMB), and the Council of Economic Advisers develop the economic assumptions that drive the 

Administration’s ten-year forecast and directly determines the Administration’s annual budget 

proposals. Economists from EP represented the United States at Organisation for Economic Cooperation and Development (OECD) working group meetings on country forecasts. Finally, the

office continued to deliver the High-Quality Market Corporate Yield Curve (a set of daily rates 

issued on a monthly basis) as mandated under the Pension Protection Act and to produce a 

Treasury Real Coupon-Issue Yield Curve, a companion to the Treasury Nominal Coupon-Issue 

Yield Curve, and several other yield curves. These yield curve data are used extensively 

throughout the private sector and executive agencies that administer private and public pension 

programs and other future payment programs to calculate their annual liabilities.

Economic Policy staff in the Office of Microeconomic Analysis also produced an estimate of 

state Total Taxable Resources, which estimates the relative fiscal capacity of states and is used in 

determining the allocation of funds for the Community Mental Health Services and Substance 

Abuse Prevention and Treatment block grant programs. The Office of Microeconomic Analysis 

has been actively engaged in helping the public and policymakers understand important 

economic policy issues. Activities included a continuing series of Economic Security issue 

briefs covering older women and the safety net; substantial contributions to a report on the effect 

of the Consumer Financial Protection Bureau’s arbitration rule; a congressionally requested 

report on agricultural exports to Cuba; and economic analysis of sanctions-related policies. 

Finally, the office continued to lead a government-wide effort to close the skills gap in the 

economist occupation in the Federal Government by coordinating efforts between the economist 

workforce and Office of Personnel Management and OMB to promote better recruitment, 

retention, and development of economists in the federal workforce.
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2.1.3 Domestic Finance and Tax Policy Resources and Measures

Dollars in Thousands

Resource Level FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Actual Actual Actual Actual Actual Annualized 

CR Request

Appropriated Resources $68,351 $81,783 $76,520 $79,748 $81,410 $80,948 $71,070

Other Resource $12,804 $24,997 $40,240 $55,231 $38,650 $40,140 $5,609 

Budget Activity Total $81,155 $106,780 $116,760 $134,979 $120,060 $121,088 $76,679

FTE 326 339 364 398 365 358 256

Measure FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2017 FY 2018 FY 2019

Actual Actual Actual Actual Actual Target Target Target

DF-Variance Between

Estimated and Actual Receipts 

(Annual Forecast)(%)

2.5 3.25 2.8 3.1 4 4.25 4.25 4.25

Domestic Finance and Tax Policy Budget and Performance 

($71,070,000,000 from direct appropriation, $5,609,000 from reimbursable resources): 

The Offices of Domestic Finance and Tax Policy monitor policy, legislation, and regulations, 

and provide advice and assistance to the Secretary about the financial services sector and taxes, 

as well as financial markets and the regulation of financial institutions. The Office of Tax Policy 

supports the administration’s efforts in tax reform legislative proposals and regulatory 

implementation.

Office of Domestic Finance (DF)

This office supports the following strategic objective for Strategic Goal 1, to boost U.S. 

economic growth:

 Objective 1.2 – Strong Economic Fundamentals: Spur faster economic growth by right-sizing 

Treasury and other regulations and advancing domestic economic policies that boost 

investment, employment, and innovation. 

This office supports the following strategic objectives for Strategic Goal 2, to promote financial 

stability:

 Objective 2.1 – Housing Finance Reform: Support housing finance reform to resolve 

Government-Sponsored Enterprise (GSE) conservatorships and prevent taxpayer bailouts of 

public and private mortgage finance entities, while promoting consumer choice within the 

mortgage market. 

 Objective 2.4 – Financial Sector Critical Infrastructure and Cybersecurity: Enhance security, 

improve resiliency, and reduce the risk of significant cybersecurity and other incidents to the 

financial sector’s critical infrastructure, domestically and internationally. 

This office supports the following strategic objectives for Strategic Goal 4, to transform 

government-wide financial stewardship: 

 Objective 4.1 – Financial Data Access/Use: Increase the access and use of federal financial 

data to strengthen government-wide decision-making, transparency, and accountability. 

 Objective 4.2 – Debt Management: Fund the Federal Government at the least cost over time. 
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 Objective 4.3 – Federal Financial Performance: Improve federal financial management 

performance using innovative practices to support effective government. 

This office supports the following strategic objective for Strategic Goal 5, to achieve operational 

excellence:

 Objective 5.1 – Workforce Management: Foster a culture of innovation to hire, engage, 

develop, and optimize a diverse workforce with the competencies necessary to accomplish 

our mission. 

In FY 2017, DF worked to promote America’s long-term economic strength and stability by 

preserving confidence in the U.S. Treasury securities market, managing federal fiscal operations

and the U.S. government’s debt, advising state and local governments about their finances, 

supporting small businesses, and strengthening financial institutions and markets. DF advanced 

several key policies of the new administration, particularly financial regulatory reform and 

national security.

Some of the most important DF work during FY 2017 was to listen to a wide range of 

stakeholders and develop recommendations for reforming the financial regulatory system. In 

2016, the Government Accountability Office (GAO) released a report that concluded that 

significant fragmentation, overlap, and duplication exists within the regulatory framework. 

Specifically, GAO found the existing structure does not always ensure efficient and effective 

oversight, consistent financial oversight, and consistent consumer protections.

On February 3, 2017, the President issued an executive order on Core Principles for Regulating 

the United States Financial System (Executive Order 13772). These Core Principles include 

empowering Americans to make independent financial decisions, save for retirement, and build 

individual wealth. The Core Principles also include preventing taxpayer-funded bailouts and 

promoting the competitiveness of American companies—both at home and abroad—while 

making regulation efficient, effective, and appropriately tailored. 

In June 2017, Treasury issued the first in a series of reports applying these Core Principles to an 

examination of the U.S. financial regulatory system. In the first report, Treasury described the 

unique role of banks and credit unions. The U.S. banking system is the strongest in the world, 

and it is critical in supporting the U.S. economy. Treasury’s report makes numerous 

recommendations affecting the depository sector, including that capital, liquidity, and leverage 

rules be refined to increase the flow of credit so that U.S. banks remain globally competitive.

Given the breadth of the financial system and a complex regulatory environment, Treasury 

conducted further stakeholder outreach and issued additional reports and recommendations on 

regulation of the capital markets (second report) and the asset management and insurance 

industries (third report), both released in October 2017. A fourth report will cover nonbank 

financial institutions, financial technology, and financial innovation.

Significant reforms that promote growth while maintaining strong investor protections are 

possible. Recommendations include streamlining disclosure requirements to reduce costs 

incurred by companies while continuing to provide investors with key information needed for 

investment decisions. For example, disclosure and other requirements can be better tailored for 
DO - 16

companies going public based on their size. Treasury also recommends re-examining the 2012 

Jumpstart Our Business Startups Act (JOBS Act) to identify how its tools can be improved.

During FY 2017, DF also played an important role supporting critical infrastructure protection 

and cybersecurity in the financial services sector. DF’s Office of Critical Infrastructure 

Protection and Compliance Policy (OCIP) has an all-hazards mission to enhance the security and 

resilience of the financial services sector’s critical infrastructure. The cybersecurity threat 

represents one of the most significant challenges to our country’s national and economic 

security. Increasing cyber-attacks against U.S. financial institutions of all sizes could lead to a 

loss in confidence in the financial system and present significant economic challenges. Impacts 

could include degradation or outages of the functioning, reliability, confidentiality, 

trustworthiness, and continued availability of financial institutions’ services, financial 

information, customer information, and the financial critical infrastructure required to support 

the U.S. and global economies. 

DF continues working to address a wide range of evolving cybersecurity risks in collaboration 

with private and other public-sector organizations. These risks include (1) prioritization and 

collaboration, to include identifying and mitigating vulnerabilities before exploitation; 

(2) information sharing; (3) strengthening and promoting the use of voluntary, risk-based, 

baseline protections; and (4) response and recovery. DF engages with the financial services 

industry and government agencies, including federal and state financial regulators, on 

cybersecurity issues to mitigate potential vulnerabilities to the financial system and improve 

resilience.

The risks facing the sector continue to be magnified by the continuing evolution in technology 

complexity, speed, storage, and connectivity. The risks are magnified by the growth in the 

number and capability of malicious actors, some of whom are extraordinarily well-funded. Their 

growing sophistication means that there is an increasing potential for frequent incidents and 

widespread damage, particularly if they are not vigilantly monitored and mitigated.

To help identify areas for improvement, during FY 2017, OCIP led seven cybersecurity exercises 

involving government and private-sector participants and participated in several other exercises. 

The exercises explored a variety of threat scenarios and how the participants would respond. 

Participants developed after-action reports for future improvement to reduce vulnerabilities and 

reduce risks. 

Also, in Treasury’s roles as chair of the Financial and Banking Information Infrastructure 

Committee and members of the Financial Services Sector Coordinating Council, OCIP continued 

sharing cybersecurity information among the member organizations. Treasury also continues to 

encourage private-sector firms to voluntarily share actionable cybersecurity information among 

firms to minimize the time it takes to discover, contain, and mitigate cyber incidents, whether 

from malicious or natural causes. 

Another important DF responsibility is managing the U.S. government’s debt. The Office of 

Debt Management (ODM) seeks to fund the Federal Government at the least cost over time by 

working to maintain predictable issuance of Treasury debt, minimizing the amount of interest the 

government must pay, and managing debt maturity over time. In FY 2017, ODM determined for 

more than 275 auctions the amount and maturity of debt that the Bureau of the Fiscal Service 
DO - 17

issued. These debt issuances totaled $8.6 trillion and raised more than $500 billion in new cash 

to fund the U.S. government.

In addition, Treasury continues to make progress in its government-wide and department-wide 

implementation of the 2014 Digital Accountability and Transparency Act (DATA Act). The 

DATA Act requires the Federal Government to provide consistent, reliable, and useful online 

data about how it spends taxpayer dollars. In May 2017, DF launched the new 

USAspending.gov website. It allows taxpayers to examine nearly $4 trillion in annual federal 

spending and see how this money flows from congressional and presidential actions to local 

communities and businesses. The new site is the culmination of a nearly three-year collaborative 

effort led by Treasury and the Office of Management and Budget. The data is compiled from 

federal agencies and published quarterly.

DF has one performance measure:

Variance between estimated and actual receipts (annual forecast) (percent): As part of managing 

the Federal Government’s central operating account and cash position, the Office of Fiscal 

Projections (OFP) forecasts net cash flows (e.g., federal receipts, outlays, and other 

miscellaneous flows) to ensure that adequate funds are available daily to cover federal payments. 

To determine its overall effectiveness, one of OFP’s metrics is to measure the variance between 

actual and projected federal receipts. A lower variance is better. The actual variance for 

FY 2017 was 4.0 percent, which is significantly lower than the 4.25 percent target. Therefore, 

OFP achieved the goal. The targets for FY 2018 and FY 2019 are 4.25 percent.

Office of Tax Policy (OTP)

This office supports the following strategic objectives for Strategic Goal 1, to boost U.S. 

economic growth:

 Objective 1.1 – Tax Law Implementation: Administer tax law to better enable all taxpayers 

to meet their obligations, while protecting the integrity of the tax system. 

This office supports the following strategic objective for Strategic Goal 5, to achieve operational 

excellence:

 Objective 5.1 – Workforce Management: Foster a culture of innovation to hire, engage, 

develop, and optimize a diverse workforce with the competencies necessary to accomplish 

our mission. 

In FY 2017, OTP worked closely with the Administration, Congress, and Treasury leadership on 

tax reform, which was a principal goal of the Administration. OTP staff participated in frequent 

meetings with Congressional staff, senior White House officials and business and other outside 

parties with interests in tax policy and tax reform. The office analyzed hundreds of revenue 

estimates, distributional tables, and other analyses of the effects of tax reform. OTP’s work was 

crucial in informing the Administration’s views of the economic consequences of tax reform. In 

FY 2017, OTP developed guidance based upon Executive Order 13789 to eliminate or reduce 

burdens imposed on taxpayers by regulations. The office conducted a comprehensive review and 

identified over 300 regulations for potential revocation. For FY 2018, OTP identified eight 

regulations that will be subject to deregulatory action.

OTP also evaluated numerous proposals to modify the Affordable Care Act (ACA), continued 

evaluating and responding to applications received under ACA state innovation waivers, and 
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evaluated and responded to applications relating to the Multi-Employer Pension Plan Act 

(MPRA).

OTP continued to provide leadership for the OECD, Global Forum, and G-20, advocating for the 

interests of U.S. based businesses. In FY 2018 and FY 2019, OTP plans to continue engaging in 

international negotiations to modernize existing treaties, establish key new treaty relationships,

and actively engage international organizations to protect the fiscal and business interests of the 

U.S.

In FY 2018 – FY 2019, OTP’s primary mission is to support tax reform implementation. This 

work will include transition guidance and regulatory guidance required to implement the changes 

to the law. Both OTP and the IRS acknowledge the need to undertake numerous regulatory 

actions to implement tax reform. 
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2.1.4 Treasury-wide Management and Programs Resources and Measures

Dollars in Thousands

Resource Level FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Actual Actual Actual Actual Actual Annualized 

CR Request

Appropriated Resources $35,223 $31,802 $35,971 $41,112 $43,387 $42,885 $39,171 

Other Resource $15,320 $30,858 $55,213 $3,339 $4,284 $996 $261 

Budget Activity Total $50,543 $62,660 $91,184 $44,451 $47,671 $43,881 $39,432 

FTE 123 139 171 124 153 146 114

Measure FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2017 FY 2018 FY 2019

Actual Actual Actual Actual Actual Target Target Target

EO 13771 - Number of Deregulatory 

Actions Issued *

N/A N/A N/A N/A N/A N/A I N/A

EO 13771 - Number of Deregulatory 

Actions Issued that Address 

Recommendations by the Regulatory 

Reform Task Force*

N/A N/A N/A N/A N/A N/A I N/A

EO 13771 - Number of Deregulatory 

Actions Issued that Address 

Recommendations by the Regulatory 

Reform Task Force to the Agency 

Head Consistent with Applicable Law *

N/A N/A N/A N/A N/A N/A I N/A

EO 13771 - Number of Evaluations to 

Identify Potential Deregulatory Actions 

That Included Opportunity for Public 

Input and/or Peer Review *

N/A N/A N/A N/A N/A N/A I N/A

EO 13771 - Number of Regulatory 

Actions Issued *

N/A N/A N/A N/A N/A N/A I N/A

EO 13771 - Total Incremental Cost of 

All Regulatory Actions and 

Deregulatory Actions (Including Costs 

or Cost Savings Carried Over From 

Previous Fiscal Years)

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

Percent of Procurement Dollars Spent 

on Small Business 39.15 36.91 35.11 36.17 35 35 40 N/A

Treasury-wide Engagement Index of 

the FEVS 68 66 67 67 68 67 69 69

Treasury-wide Footprint (Square 

Footage) 37,320 36,411 35,439 34,894 34,100 34,310 33,600 33,100

Treasury-wide Leaders Lead Index of 

the Federal Employee Viewpoint 

Survey (FEVS)

N/A 53 54 55 56 55 57 58

Note: I – Performance Indicator 

* Executive Order 13771 requires the repeal of two regulatory actions for each new regulatory action issued by an agency. The 

Department is fulfilling this requirement by prioritizing burden-reducing, deregulatory actions. At this time Treasury does not have 

targets for these measures because it is still in the process of evaluating its deregulatory and regulatory actions for FY 2018.

Treasury-wide Management and Programs Budget and Performance 

($39,171,000 from direct appropriation, $261,000 from reimbursable resources): 

This budget activity includes offices that are responsible for the internal management and policy 

of the Department: the Office of the Assistant Secretary for Management; the Office of the 

Chief Information Officer; the Office of Privacy, Transparency, and Records; the Office of the 

Senior Procurement Executive; the Office of the Chief Human Capital Officer; the Office of 

Emergency Programs; the Office of the Deputy Chief Financial Officer; the Office of Civil 
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Rights and Diversity; the Office of Minority and Women Inclusion; and the Office of the Deputy 

Assistant Secretary for Management and Budget. 

This office supports the following strategic objective for Strategic Goal 2, to promote financial 

stability:

 Objective 2.4 – Financial Sector Critical Infrastructure and Cybersecurity: Enhance security, 

improve resiliency, and reduce the risk of significant cybersecurity and other incidents to the 

financial sector’s critical infrastructure, domestically and internationally. 

This office supports the following strategic objectives for Strategic Goal 5, to achieve 

operational excellence:

 Objective 5.1 – Workforce Management: Foster a culture of innovation to hire, engage, 

develop, and optimize a diverse workforce with the competencies necessary to accomplish 

our mission.

 Objective 5.2 – Treasury Infrastructure: Better enable mission delivery by improving the 

reliability, security, and resiliency of Treasury’s infrastructure.

 Objective 5.3 – Customer Value: Improve customer value by increasing the quality and 

lowering the cost of Treasury’s products and services. 

Treasury-wide Management and Program’s performance metrics are: 

 Percentage of Procurement Dollars Spent on Small Business: In FY 2017, Treasury aimed to 

meet or exceed all small business contracting goals. Based on preliminary data, Treasury 

expects to meet or exceed all small business prime contracting goals. However, Treasury 

may not meet all small business subcontracting goals. The Small Business Administration 

(SBA) is expected to calculate the data in April 2018. The following Treasury bureaus were 

included in the goaling report, with no exclusions: Office of the Comptroller of the 

Currency, Office of Thrift Supervision, and the Bureau of Engraving and Printing (BEP).

The preponderance of the negative impact, on the goals, lies with BEP, which continues to 

face unique challenges. Because of the highly specialized nature of BEP in producing U.S. 

banknotes and the fixed costs associated with creating currency, there are a limited number 

of vendors globally who are able to supply key raw materials and highly specialized printing 

equipment to perform the work. In FY 2017, Treasury spend included 31 percent of 

industrial equipment and supplies related to the production and currency. There were no 

small businesses available to provide these supplies and services, effectively removing $287

million from Treasury’s available spend. Based on this unique circumstance, it will be 

difficult for the BEP to achieve its FY 2018 small business goals; thereby, impacting 

Treasury’s overall small business goal achievements. Treasury attended and conducted 

outreach activities to provide small business (SB), small and disadvantaged business (SDB), 

women-owned small business (WOSB), HUBZone small business (HZ), and service-disabled 

veteran-owned small business (SDVOSB) with information about specific contract 

opportunities and technical assistance about conducting business with Treasury. This 

outreach work will continue in FY 2018 and FY 2019. Particularly noteworthy is that 

Treasury far exceeded the contracting goals for the following socioeconomic groups: SDB at

five percent, WOSB at five percent, HZ at three percent, and SDVOSB at three percent. The 

following are Treasury’s expected goal achievements: SB - 35.07 percent, SDB – 14.16

percent, WOSB – 13.26 percent, HZ – 3.77 percent, and SDVOSB – 4.41 percent. 

Throughout FY 2018, Treasury will continue to employ the successful strategies of targeted 

outreach, enhanced leadership accountability, policies, tools and resources, and increased 
DO - 21

intra-agency communication with the expectation of achieving its goals. The FY 2018

overall small business goal has been set at 35 percent. The FY 2019 small business goal will 

be set in the Fall of 2018.

 Treasury-wide “Engagement” Index of Federal Employee Viewpoint Survey (FEVS): 

Treasury’s strategy focused on improving employee engagement in a number of areas, 

thereby creating an opportunity to improve the effectiveness of our workforce while 

improving our ranking among other federal agencies. Strategic efforts were focused on 

Overall Satisfaction, Leaders Lead, and the Inclusion Quotient – Fairness. Treasury 

conducted two Treasury-wide engagement review sessions for high-level leadership during 

FY 2016 in addition to bureau-level reviews. Treasury’s scores for the Engagement Index 

increased from 66 percent for FY 2015 to 67 percent for FY 2016, and 68 percent for FY 

2017. Treasury exceeded the government-wide rate by one percent in FY 2017.

 Treasury-wide Footprint (Square Footage): This goal measures the total square footage 

occupied by Treasury’s owned and leased buildings. To reduce the Department’s real 

property footprint and maximize the use of existing real property assets, the Department 

maximized space utilization by undertaking space realignments, consolidations, and 

improved work station standards. 

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

Treasury also set the goal to increase the “Leaders Lead” index above FY 2015 results. 

Treasury’s score for the Leaders Lead Index increased from 54 percent in FY 2015 to 55 

percent in FY 2016, and Treasury’s score led the government-wide average by two 

percentage points. This Index also increased from 55 percent in FY 2016 to 56 percent in 

FY 2017 and exceeded the government-wide rate by one percent.

Office of the Chief Human Capital Officer

In FY 2017, Treasury revised its planning and monitoring process specific to Human Capital to 

comply with pending regulatory changes. Treasury has been identified as a federal leader in this 

area by the Office of Personnel Management and the Office of Management and Budget. These 

efforts resulted in the identification of the need to pursue a competency-based management 

approach to meet Treasury’s needs. The focus for FY 2018 will consist of solidifying the 

foundation to support a competency-based approach with implementation beginning in FY 2019. 

Additional efforts in FY 2018 include a continued focus on building workforce planning 

capabilities in support of federal efforts to expand the strategic management of federal human 

capital and close skills gaps in federal and Treasury mission-critical occupations. Treasury will 

also begin implementation of an enterprise Integrated Talent Management system that will, when 

fully deployed, provide employees a single, modern system for learning, performance, and career 

planning; give leadership a consolidated view of the Department’s human capital; and 

consolidate 24 stand-alone legacy systems into a single, cloud-based system.

Office of Civil Rights and Diversity

In FY 2017, Treasury developed a new Diversity and Inclusion Strategic Plan, which mapped to 

both the Department's Strategic Plan and the Human Capital Plan. The bureaus have developed

implementation plans specific to each bureau. The Office of Civil Rights and Diversity (OCRD)

coordinated with the Human Resources Engagement Strategy to improve the morale of the 

workforce as reflected in the Federal Employee Viewpoint Survey (FEVS), with a specific focus 

on the new Inclusion Quotient portion of the survey. Treasury’s scores in the Diversity and 

Inclusion portion of the FEVS have improved to a 62 percent positive rating, which is above the 

government-wide average. Scores around the Fairness of Employment Practices remain a 
DO - 22

concern at 50 percent, but still are above the Government-wide average. Continuing work, 

partnering with the Chief Human Capital Office, will be done to determine what is driving those 

numbers, and the Diversity and Inclusion and EEO offices will work closely on bureau 

engagement teams to improve the scores. OCRD also coordinated a number of major studies, 

including a barrier analysis of the Senior Executive Service at Treasury and a gender pay equity 

study. Additionally, this office continues to work with the Treasury Executive Institute to 

develop programming for executives and senior level staff in the areas of diversity and inclusion. 

The Treasury-wide EEO program showed marked improvements in the timeliness and efficiency 

ratings of both EEO investigations and issuance of final decisions, as well as in the use of 

alternative dispute resolution processes to resolve complaints in a timely manner. 

Office of the Deputy Chief Financial Officer

For FY 2017, the Department received its eighteenth consecutive unmodified audit opinion on its 

Treasury-wide financial statements. Treasury anticipates unmodified audit opinions for the 

consolidated audit for FY 2018 and FY 2019. Overall, the Department has made strong progress 

in enhancing its internal control environment and remains committed to ensuring high standards 

of integrity and transparency in reporting its financial performance.

Office of Small and Disadvantaged Business Utilization

Based on preliminary data, Treasury is on track to meet or exceed all small business prime 

contracting goals. The consistent “A” score is a testament to the hard work and professionalism 

of the procurement and acquisition teams across Treasury’s bureaus and the serious commitment 

to utilizing small businesses that emanates from Treasury’s leadership. To comply with Section

15 (k), Small Business Act, the Department focused on small business prime and subcontracting 

goal achievements. 

Office of the Senior Procurement Executive

In FY 2017, Treasury continued a comprehensive acquisition transformation strategy designed to 

facilitate innovation, strategic management, efficiency, and effective mission outcomes. Central 

to the strategy is early planning and broad stakeholder participation as well as accelerated 

transition to strategic acquisition vehicles. In support of the Federal Information Technology 

Acquisition Reform Act, the Department has placed significant focus on IT acquisition across all 

procurement programs.

In FY 2017, Treasury continued successful execution of its Major Acquisition Program (MAP) 

reviews in which primary and senior stakeholders (to include procurement, customer, program 

management, and legal representatives) jointly and periodically review procurement strategy and 

progress for critical acquisitions. These reviews provide a forum for development of effective 

acquisition strategies; early identification and resolution of problems; and sharing of experience 

and expertise among various stakeholder personnel. FY 2017 reviews focused on pre and post 

award actions and were designed to facilitate successful award of critical contracts. To help 

ensure successful contract performance outcomes, FY 2017 MAP reviews were expanded to 

include existing critical contracts. In FY 2017, Treasury reviewed 51 acquisitions, valued at 

$4.9 billion; reviews included 23 IT acquisitions valued at $3.5 billion. The Department 

anticipates a similar level of oversight and collaboration in FY 2018 and FY 2019.

Treasury has achieved both savings and efficiencies through aggregating requirements and 

leveraging its purchasing power via enterprise-level management of common spend 
DO - 23

categories. By fully utilizing category management, Treasury seeks to save the Federal 

Government money through smarter purchasing and greater collaboration across stakeholder 

organizations and to achieve greater efficiency with fewer resources. Treasury FY 2018 and 

FY 2019 strategy extends and expands Treasury’s transition to the Office of Management and 

Budget’s (OMB) preferred contract vehicles, reducing the need to establish department level 

contracts and freeing associated resources for focus on other acquisition priorities. In FY 2017, 

Treasury successfully coordinated with OMB’s Category Management Program Management 

Office (PMO) to more accurately measure Treasury’s progress in achieving government-wide 

category management goals. As a result of OPE’s efforts, the Department’s utilization of OMB 

preferred contracts increased by $86 million in FY 2016, $102 million in FY 2017, and $32

million so far in FY 2018. The Department anticipates a similar level of progress and 

collaboration in FY 2018 and FY 2019, bringing Treasury into compliance with the goals 

established by the President’s Management Agenda. 
DO - 24

C – Changes in Performance Measures 

Performance Measure or Indicator Change and Justification

1. EO 13771 - Number of Deregulatory 

Actions Issued 

(New Treasury-wide Management 

Performance Indicator)

EO 13771 encourages agencies to issue two deregulatory items for each new regulatory action (as that 

term is defined in OMB guidance). Treasury has an 

inventory of EO 13771 items and through the work of 

the Regulatory Reform Task Force, will continue to add 

items to that list.

2. EO 13771 - Number of Deregulatory 

Actions Issued that Address 

Recommendations by the Regulatory 

Reform Task Force

(New Treasury-wide Management 

Performance Indicator)

EO 13777 authorizes a Regulatory Reform Task Force 

chaired by a Regulatory Reform Officer. The task force 

is reviewing items listed on Treasury’s EO 13771 

inventory as well as items recommended by 

stakeholders in response to a June 14, 2017 request for 

information. The task force will make 

recommendations about deregulatory actions to 

prioritize.

3. EO 13771 - Number of Deregulatory 

Actions Issued that Address 

Recommendations by the Regulatory 

Reform Task Force to the Agency Head 

Consistent with Applicable Law

(New Treasury-wide Management 

Performance Indicator)

EO 13777 authorizes a Regulatory Reform Task Force 

chaired by a Regulatory Reform Officer. The task force 

is reviewing items listed on Treasury’s EO 13771 

inventory as well as items recommended by 

stakeholders in response to a June 14, 2017 request for 

information. The task force makes recommendations in 

periodic reports to the Secretary

4. EO 13771 - Number of Evaluations to 

Identify Potential Deregulatory Actions 

That Included Opportunity for Public Input 

and/or Peer Review

(New Treasury-wide Management 

Performance Indicator)

EO 13771 encourages agencies to seek public input on 

deregulatory actions to prioritize. The Department 

issued a request for information in the Federal Register 

on June 14, 2017 and the bureaus were encouraged to 

share that request with stakeholders. Additional 

contacts with stakeholders on this subject should be 

included in this count.

5. EO 13771 - Number of Regulatory Actions 

Issued

(New Treasury-wide Management 

Performance Indicator)

EO 13771 regulatory actions are those designated as 

such by the Office of Information and Regulatory 

Affairs (OIRA), Office of Management and Budget. 

These regulations would be included in the 

Department’s inventory of EO 13771 regulatory items 

and may include significant regulatory actions under EO 

12866.

6. EO 13771 - Total Incremental Cost of All 

Regulatory Actions and Deregulatory 

Actions (Including Costs or Cost Savings 

Carried Over From Previous Fiscal Years)

(New Treasury-wide Management 

Performance Measure)

EO 13771 mandates that the cost of regulations must be 

zero and encourages agencies to achieve a cost savings. 

In order to achieve this zero cost, agencies must offset 

any costly regulations with de-regulatory actions that 

cover the cost.

With the publication of Treasury’s Strategic Plan for FY 2018-2022, Treasury will work in FY 

2018 to baseline performance against the new strategic objectives. This could result in 

additional changes to performance measures in the FY 2020 budget.
DO - 25

Section III – Additional Information

A – Summary of Capital Investments

A summary of capital investment resources, including major information technology and nontechnology investments can be found at: 

http://www.treasury.gov/about/budget-performance/Pages/summary-of-capital-investments.aspx

This website also contains a digital copy of this document.