Departmental Offices Salaries and Expenses

Program Summary by Budget Activity

Dollars in Thousands

FY 2019 FY 2020 FY 2021 FY 2020 to FY 2021

Budget Activity Operatin

g Plan Enacted Request $ Change % Change

Executive Direction $35,407 $36,775 $37,714 $939 2.6%

International Affairs and Economic Policy $52,428 $52,825 $54,367 $1,542 2.9%

Domestic Finance and Tax Policy $72,570 $78,153 $84,506 $6,353 8.1%

Treasury-wide Management and Programs $39,171 $38,279 $40,740 $2,461 6.4%

Committee on Foreign Investment in the United States $15,000 $22,341 $24,146 $1,805 8.1%

Subtotal, DO SE $214,576 $228,373 $241,473 $13,100 5.7%

Offsetting Collections - Reimbursable $12,432 $9,071 $9,242 $171 1.9%

Transfer from CFIUS Fund $0 $15,000 $15,000 $0 0.0%

Total Program Operating Level $227,008 $252,444 $265,715 $13,271 5.3%

Direct FTE 596 703 765 62 8.8%

Reimbursable FTE 46 40 40 0 0.0%

Total Full-time Equivalents (FTE) 642 743 805 62 8.3%

Note: $1.5 million of the Treasury-wide Management and Programs request in 2021 is contingent on enactment of legislation transferring the 

U.S. Secret Service to the Department of the Treasury.

Summary

The FY 2021 Request proposes increases to help implement programs that bolster U.S. economic 

growth, promote financial stability, enhance national security, transform government-wide 

financial stewardship, and achieve operational excellence. Particular focuses of this request are

continued expansion of the Office of Cybersecurity and Critical Infrastructure Protection’s 

(OCCIP’s)1 efforts to protect the U.S. financial services sector from cyberattacks and improve 

resilience of critical infrastructure, continued expansion of the Office of Tax Policy’s impact 

analyses of tax regulations, funding to pay the State Department’s increased bill of the their 

Capital Security Cost Share Program, the creation of a maintenance and minor repair budget to 

support the Treasury-owned facilities and funding to support the Evidence Act and Office of 

Minority and Women Inclusion mandates.

In addition to requested increases for the Treasury Departmental Offices (DO) Salaries and 

Expenses (SE) account, DO anticipates transferring in and executing $15 million from the 

$20 million request of the Committee on Foreign Investment in the United States (CFIUS) Fund, 

discussed separately. 

 1 The Department of the Treasury has recognized the continuing increase in cyber threats and the need to continue enhancing 

cybersecurity in the financial sector. To reflect these changes, Treasury has refocused and renamed the office from the former 

“Office of Critical Infrastructure Protection and Compliance Policy” name to the “Office of Cybersecurity and Critical 

Infrastructure Protection” (OCCIP).
Budget Highlights

Dollars in Thousands

FTE Amount

FY 2020 Enacted 703 $228,373 

Changes to Base:

Maintaining Current Levels (MCLs): 0 5,472 

Pay Annualization (2020 3.1% average pay raise) 0 $1,023 

Pay Raise (1% average pay raise) 0 $998 

FERS Contribution Increase 0 $1,100 

Non-Pay 0 $2,351 

Efficiency Savings 0 ($1,246)

Subtotal Changes to Base 0 $4,226 

FY 2021 Base 703 $232,599 

Program Changes:

Reinvestments 39 $0 

Staffing to Support CFIUS Caseload Growth 39 $0 

Program Increases: 23 $8,874 

Strengthen Cybersecurity of the Financial Services Sector 8 $3,700 

Impact Analysis of Tax Regulations 3 $1,063 

Operations and Maintenance (O&M) of Prior-year Enterprise-wide 

Cybersecurity Investments 0 $333 

Attaché Cost Increases from State Department 0 $498 

Implementation of Evidence Act of 2018 3 $723 

Main Treasury and Freedman's Bank Building Annual Maintenance 0 $550 

Increase Office of Minority and Women Inclusion staffing 2 $507 

Management and Oversight for U.S. Secret Service 7 $1,500 

FY 2021 President's Budget Request 765 $241,473 

Budget Adjustments

Maintaining Current Levels (MCLs) .....................................................+$5,472,000 / + 0 FTE

Pay Annualization (3.1%) +$1,023,000 / +0 FTE

Funds are requested for annualization of the January 2020 3.1% average pay raise.

Pay Raise (1.0% in 2021) +$998,000 / +0 FTE

Funds are requested for a 1.0% average pay raise in January 2021.

FERS Contribution Increase +$1,100,000 / +0 FTE

Funds are requested for the Federal Employee Retirement System (FERS) contribution rates 

effective FY 2021.

Non-Pay +$2,351,000 / +0 FTE

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

equipment.
Efficiency Savings........................................................................................ -$1,246,000 / -0 FTE

Contractual Support -$1,246,000 / +0 FTE 

DO will achieve cost savings and efficiencies in contract services through more efficient contract 

oversight, consolidating contracts where appropriate, and partnering with other agencies and DO 

components to leverage common technology or administrative support needs.

Reinvestments......................................................................................................... +$0 / +39 FTE

Staffing to Support CFIUS Caseload Growth $0 / +39 FTE 

Increase in CFIUS staffing to continue to support anticipated program growth. Funding will come 

from redirecting contract spending. 

Program Increases .................................................................................. +$8,874,000 / +23 FTE

Strengthen the Financial Services Sector’s Cybersecurity and Critical Infrastructure Protection

+$3,700,000 / +8 FTE 

The U.S. financial services sector faces a broad range of cybersecurity vulnerabilities and 

physical hazards. Adversaries and malicious actors have recently exploited vulnerabilities in the 

financial sector, leading to major financial industry breaches and disruptions. The potential for 

damage in the event of a major breach is massive. The scale of transactions of the largest 

financial systems dwarfs the U.S. GDP. For example, the largest U.S. real-time gross settlement 

system transmitted over $700 trillion in 2018. Although many U.S. financial institutions are well 

protected from attack, adversaries and malicious actors continue to grow in technical capability,

and their attacks continue to increase in sophistication and severity.

The FY 2021 Request would enable Treasury, the sector-specific agency for financial services 

critical infrastructure, to help the private sector and regulators shift toward a more proactive 

posture toward these risks and challenges. This request would reduce risks by allowing Treasury 

and its partners to identify and address vulnerabilities before they can be exploited. The request 

builds on FY 2020 initiatives for which Congress provided the Office of Cybersecurity and 

Critical Infrastructure Protection (OCCIP) a $4.0 million increase. It expands FY 2020 efforts to 

map critical financial processes, assess and mitigate financial institution-level vulnerabilities, and

study new technologies for potential risks to the sector. The FY 2021 Request also proposes 

funding one additional cyber center liaison to meet the increasing demands from the financial 

services sector for more information sharing and a new staff member to provide cybersecurity 

expertise to the CFIUS process. 

Identify, Map, and Prioritize Risks and Vulnerabilities $3,194,000 / +6 FTE

This initiative will support efforts to identify risks to large financial institutions, key third parties, 

and the other infrastructures and technologies on which the sector relies (e.g., energy and 

telecommunications) to pinpoint shared vulnerabilities with potential systemic implications. 

This would include completion of the first version of comprehensive financial process maps. 

Through this initiative, Treasury will identify and diagram the infrastructure required to deliver 

critical financial transactions; automate maintenance of the maps; and implement visualization 

techniques to further understand cascading effects of cyber events in the sector to mitigate 

damage to the infrastructure. Additionally, Treasury will use the request funding to conduct 

cross-cutting studies of the firms that are critical and how they support key national critical 

functions. In conjunction with process mapping, this examination will allow Treasury to identify 

and reduce vulnerabilities to these key financial sector institutions. Finally, Treasury will 
proactively assess new and emerging technologies in the financial sector to identify 

vulnerabilities and mitigate any associated risks associated.

The FY 2021 Request focuses on three ongoing activities: 

• Map critical processes, institutions, and data flows $1,085,000 / +0 FTE: OCCIP will work 

with industry to identify, map, and prioritize vulnerabilities, focusing on 27 key financial 

sector institutions, critical infrastructure (e.g., electrical grid), and industry processes (e.g., 

credit card authorization and settlement). 

• Identify, study, and analyze vulnerabilities by engaging key financial institutions $1,249,000 

/ +3 FTE: Identify and mitigate cybersecurity and operational risks and vulnerabilities at key 

financial institutions. Improve the security and resilience of the sector’s cybersecurity to 

reduce exploitable vulnerabilities. 

• Assess emerging technologies $860,000 / +3 FTE: Analyze emerging technologies for their 

potential security risks to financial sector networks, systems, and processes. Develop risk 

reduction advice for the sector and improve OCCIP’s knowledge of emerging technologies. 

Mitigate/Avoid Risks $506,000 / +2 FTE

Treasury/OCCIP plays an important role in the National Cyber Strategy, which the President 

announced in September 2018. In addition, Treasury partners with the Departments of Energy 

and Homeland Security to mitigate risks from specific threat actors against financial institutions, 

energy infrastructure, and telecom companies. Treasury’s partnerships among sectors and 

agencies ultimately enable more timely and actionable dissemination of threat and vulnerability 

information to support risk mitigation. The FY 2021 Request will help prevent the introduction 

of new vulnerabilities into systems, lower risks to the sector, and reduce recovery costs from 

incidents. This initiative comprises two ongoing activities:

• Enhance OCCIP’s protection of the financial sector via the Committee on Foreign 

Investment in the United States (CFIUS) $233,000 / +1 FTE: Assist in understanding product 

and supply chain dependencies and potential risks of transactions under review by CFIUS.

• Cyber Command Liaison Officer $273,000 / +1 FTE: Fund a full-time Liaison Officer at 

U.S. Cyber Command, which is one of the unified commands of the Department of Defense. 

This liaison will increase cyber threat information-sharing with financial institutions to 

provide early indications of malicious activity and cyber vulnerabilities that could harm the 

sector and the American people.

Impact Analysis of Tax Regulations +$1,063,000 / +3 FTE

One of the Administration’s goals is to bring clarity to the complex Internal Revenue Code and 

to provide useful guidance to taxpayers. Following enactment of the Tax Cuts and Job Act 

(TCJA) of 2017, pursuant to a Memorandum of Agreement between the Treasury and OMB in 

April 2018, Treasury agreed to create a new framework to accommodate the Executive Order 

(EO) 12866. The EO requires a review of tax regulations with the objective of providing 

taxpayers with economic analysis for significant tax regulations while reducing regulatory 

burdens and providing timely tax guidance for taxpayers. To accomplish this, the Office of Tax 

Policy (OTP) requests $1.1 million and three FTE to conduct robust regulatory impact analyses 

of “significant” tax regulations as determined by OMB. Failure to adequately fund this effort 

will result in fewer regulations available for OMB review and subsequent publication and lead to 

an increase in taxpayer confusion, lowering compliance with the TCJA.
Operations and Maintenance (O&M) of Prior-year Enterprise-wide Cybersecurity investments 

+$333,000 / +0 FTE

Treasury’s Cybersecurity Enhancement Account has made a number of key investments over the 

past two years which have resulted in significant improvements in Treasury’s Cross Agency 

Priority (CAP) scores. From FY 2018 Quarter 2 to FY 2019 Quarter 2, Treasury has seen, met 

or exceeded six out of 10 federal-wide targets, which represented a 30 percent improvement over 

the prior year. This request level will sustain those prior year investments, to include operations 

and maintenance costs for improvements to the Treasury Secure Data Network (TSDN), 

Treasury’s secret network, and advanced monitoring and mitigation capabilities for the Treasury 

Government Security Operations Center consistent with the National Continuous Diagnostics 

and Mitigation (CDM) strategy.

Attaché Cost Increases from State Department +$498,000 / +0 FTE 

As representatives of the United States’ financial diplomacy efforts, attachés possess expertise 

on financial authorities, financial intelligence, economic policy, sanctions, and anti-money 

laundering/countering the financing of terrorism. The State Department considers Treasury 

attachés to be significant force multipliers on the embassy teams in which they operate. 

Incremental annual increases in mandatory overseas support costs continue to erode the program 

office base budget. In FY 2017 and FY 2018, agencies were provided a credit on their State 

Department Capital Security Cost Share bill to partially mitigate the impact of increases. 

Reduced payroll cost within non-CFIUS functions of the Office of International Affairs (IA), in 

addition to the closure of an overseas duty post, allowed IA to absorb the remainder of these cost 

increases through FY 2019, but this funding will no longer be available to support these costs in 

FY 2021. 

Implementation of Evidence Act of 2018 +$723,000 / +3 FTE

This initiative is to support Treasury-wide data-driven strategic management processes and 

bolster evidence-building capability in furtherance of the Foundations for Evidence-Based 

Policymaking Act of 2018. It would fund key investments in personnel to increase DO’s 

analytic capacity and better understand areas of potential risk and investment.

Office of the Chief Data Officer $472,000 / +2 FTE: P.L. 115-435 (The Evidence Act) requires 

agencies to designate a Chief Data Officer. This funding request is to stand up an office of the 

Chief Data Officer to be comprised initially of two positions. The Chief Data Officer’s goals are 

to ensure data is used as a strategic asset, increase use of data in decision-making and evidencebuilding, and increase coordination of data collection and use.

Treasury Organizational Performance and Evaluation Program $251,000 / +1 FTE: The Office 

of Strategic Planning and Performance Improvement (OSPPI) requests one position to better 

support implementation of the Evidence Act, by dedicating a senior program lead to serve as the 

Department’s Evaluation Officer and Government Performance and Results Modernization Act 

Program Manager. This investment would enable the Department to build a better evidence base 

for informing policy and strategy decisions as well as address priority questions identified in the 

agency learning agenda. A dedicated senior accountable official will enable the Department to 

build a better evidence-base for informing policy and strategy decisions. This request will also 
enable dedicating a modest amount of funding to procure evaluation and research support from 

other agencies or academic institutions to address priority questions identified in the agency 

learning agenda.

Main Treasury and Freedman’s Bank Building Annual Maintenance +$550,000 / +0 FTE

This request represents a portion of the maintenance and minor repair budget of Treasury-owned 

space, including the Main Treasury (MT) Building and the Freedman’s Bank Building (FBB). 

Treasury is in a unique position from many other Federal agencies in that it owns historic 

buildings, which require more and complex routine maintenance. The scope supported by this 

funding represents a broad range of continuous facility needs that include historical preservation; 

significant water leaks/intrusion; failure of minor electrical components, plumbing components 

and fixtures, hardware and doors, plaster, and paint; and all small projects that fall below the 

capital improvements level. While the MT and FBB have been kept functional under limited 

funding, it has not been sufficient to properly maintain the buildings, resulting in the deferral of 

important maintenance and repair work. Deferred maintenance results in additional costs and 

scope to perform the work later.

Increase Office of Minority Women and Inclusion Staffing +$507,000 / +2 FTE

The Office of Minority and Women Inclusion (OMWI) was mandated under Section 342 of the 

Dodd Frank Act (P.L.111-203). The initiative will expand steps to seek diversity in the 

workforce at all levels and fair utilization of minority and women-owned businesses in the 

business activities of the agency. The new staff will support efforts to institute a more 

transparent and data-driven accountability structure to measure success, review the impact 

agency policies on minority and women-owned businesses, and inform evidence-based decisionmaking. This request will also strive to create a more efficient and effective team of diversity 

and inclusion experts to implement innovative solutions and new technologies that address 

behavioral and systematic impediments to success. 

Management and Oversight for United States Secret Service (USSS) +$1,500,000 / +7 FTE

Contingent upon enactment of authorizing legislation to reorganize the Department of Homeland 

Security and transfer some of its functions to the Department of the Treasury, an additional $1.5 

million will be necessary for expenses of the Departmental Offices related to oversight of the 

USSS in areas such as IT, human capital, and budget

Legislative Proposals 

Transfer the United States Secret Service to the Department of the Treasury

The Budget proposes to transfer the United States Secret Service from the Department of 

Homeland Security to the Department of the Treasury. The proposed funding will support 

necessary expenses for the coordination and oversight of the transfer by the Departmental 

Offices of the Department of the Treasury. For additional information on the transfer proposal, 

please consult the Department of the Treasury chapters of the Main Budget Volume and the 

Major Savings and Reform Volume.
Create a Freedom of Information Act exemption for certain financial sector cybersecurityrelated information to increase protection of the U.S. financial services sector. 

This proposal would provide Treasury with an appropriately scoped Freedom of Information Act 

(FOIA) exemption for cybersecurity-related information, in furtherance of the Department’s 

responsibilities to enhance the security and resilience of the financial services sector’s critical 

infrastructure. To identify risks to financial sector critical infrastructure, Treasury relies on 

private-sector financial organizations to provide a range of cyber threat and vulnerability 

information. Firms in the sector have not been sharing such information with Treasury due to 

concerns that their sensitive information will be subject to public disclosure under FOIA. A 

narrowly-tailored FOIA exemption would enable Treasury to leverage its relationship with the 

sector to improve information sharing. This proposal would strengthen Treasury’s ability to 

identify risks to financial sector critical infrastructure and enable public and private-sector action 

to mitigate significant risks.

Performance Highlights 

FY 2017 FY 2018 FY 2019 FY 2020 FY 2021

Budget Activity Performance Measure Actual Actual Actual Target Target

Domestic Finance and Tax Policy

Variance Between Estimated and 

Actual Receipts (Annual Forecast) 

(%)

 

4.00 

 

2.33 

 

3.14

 

4.25 4.25 

International Affairs and Economic 

Policy OTA - Program Engagement 4.0 3.8 3.8 3.6 3.6

Treasury-wide Management and 

Programs

Treasury-wide Leaders Lead Index 

of the Federal Employee 

Viewpoint Survey (FEVS)

56 56 58 59 60

Description of Performance

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 and outlays) 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 because that indicates a more accurate forecast. The 

actual variance for FY 2019 was 3.14 percent, which is lower than the 4.25 percent target. 

Because tax receipts are quite variable from year to year and are very sensitive to changes in 

macro-economic conditions and legislative changes, accurate forecasts in one year do not 

necessarily portend accuracy in a subsequent year or period. OFP will maintain its target of 4.25 

percent for both FY 2020 and FY 2021.

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 2019, the Traction score was 3.8, exceeding the target of 3.6. In FY

2020 and FY 2021, IA’s target for Traction is 3.6.

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

also set the goal to increase the “Leaders Lead” index above FY 2018 results. Treasury’s score 

for the Leaders Lead Index increased from 56 percent in FY 2018 to 58 percent in FY 2019. 

Treasury’s score in FY 2019 exceeded the government-wide average and the average score for 

very large agencies by one percent. Targets are 59 percent for FY 2020 and 60 percent for FY 

2021.