Special IG for TARP 

Program Summary by Budget Activity 

(Dollars in thousands) 

SIGTARP carried over $36.2 million into FY 2011 in unobligated mandatory authority, of which $22.5 million is for general 

operations and $13.7 is for PPIF/TALF funds. 

Summary 

 

The 2012 President’s Budget request for the 

Special Inspector General for Troubled Asset 

Relief Program (SIGTARP) includes funding 

to support the Department of the Treasury’s 

strategic outcome of effectively managing the 

U.S. Government’s finances as they relate to 

the Troubled Asset Relief Program (TARP). 

SIGTARP’s top priority is to promote 

transparency in the management and operation 

of TARP, ensuring the satisfaction of the 

public’s right to know how Treasury decides 

to invest the public’s money, how it manages 

the assets it obtains, and how TARP recipients 

use these funds. 

SIGTARP’s mission is to advance economic 

stability by promoting the efficiency and 

effectiveness of TARP management, through 

transparency, through coordinated oversight, 

and through robust enforcement against those, 

whether inside or outside of Government, who 

waste, steal or abuse TARP funds. 

SIGTARP views its oversight role 

prospectively, retrospectively, internally, and 

externally. Prospectively, SIGTARP, among 

other things, advises Treasury on issues 

relating to compliance, internal controls and 

fraud prevention. Retrospectively, SIGTARP 

assesses the effectiveness of TARP activities 

over time and suggests improvements. 

Internally, SIGTARP’s oversight role reaches 

to Treasury officials and to other government 

employees who manage TARP-related 

programs. Externally, it reaches to the 

recipients of TARP funds, the other private 

participants in TARP-related programs and to 

vendors that have been retained to assist 

Treasury in implementing TARP. SIGTARP 

also plays a significant external coordinating 

Appropriation FY 2010 FY 2011 FY 2012

Annualize

CR Level

 Audit $9,900 $15,609 $20,371 $10,471 106%

 Investigations $13,400 $20,691 $27,003 $13,603 102%

Total Appropriated Resources $23,300 $36,300 $47,374 $24,074 103%

Available no-year funds - S&E $20,100 $13,068 ($20,100) -100%

Available PPIP funds $5,000 $1,671 $1,708 ($3,292) -66%

Total Program Operating Levels $48,400 $51,039 $49,082 $682 1%

Activity FY 2010 FY 2011 FY 2012

Annualize

CR Level

Audit $20,700 $22,732 $20,371 ($329) -2%

Investigations $27,700 $28,307 $28,711 $1,011 4%

Total SIGTARP by Budget Activity $48,400 $51,039 $49,082 $682 1%

Direct FTE 133 192 192 59 44%

Total FTE 133 192 192 59 44%

Change FY10 to FY12

Enacted Request $ Change % Change

 FY 2010 to FY 2012

Enacted Request $ Change % Change
role among TARP oversight bodies both to 

ensure maximum oversight coverage and to 

avoid redundant and unduly burdensome 

requests on Treasury personnel who manage 

the programs. 

SIGTARP FY 2012 Budget Highlights

(Dollars in thousands)

Appropriation Amount

FY 2010 Enacted $23,300

FY 2011 Annualized CR Level $36,300

Changes to Base: 

Adjustment to Reach Policy Level: $13,068 

Adjustment to Reach FY 2011 President's

Policy 

$13,068 

Maintaining Current Levels (MCLs): $454 

Maintaining Current Levels $454 

Efficiencies, Savings & Base Reductions: ($2,448) 

Efficiencies, Savings and Reductions ($2,448) 

Subtotal FY 2012 Changes to Base $11,074 

Total FY 2012 Base $47,374

Total FY 2012 Request $47,374

FY 2012 Budget Adjustments 

 

FY 2011 Annualized CR Level 

The FY 2011 annualized CR level for SIGTARP is 

$36,300,000. 

Adjustment to Reach Policy Level 

Adjustment to Reach FY 2011 President's 

Policy +$13,068,000 / +0 FTE 

Adjustment to Reach FY 2011 President's 

Policy 

Maintaining Current Levels (MCLs) 

Maintaining Current Levels +$454,000 / +0 

FTE 

Funds are required for inflation adjustments in 

non-labor expenses such as GSA rent 

adjustments, postage, supplies and equipment 

and health benefits and the increase in Federal 

Employee Retirement System participation. 

No inflation adjustment is requested for pay in 

FY 2012. 

Efficiencies, Savings & Base Reductions 

Efficiencies, Savings and Reductions 

-$2,448,000 / +0 FTE 

A reduction from the base level will be 

absorbed through general operating costs. 

Explanation of Budget Activities 

 

Salaries and Expenses 

Audit ($20,371,000 from direct appropriations)

Conducts, supervises, and coordinates 

programmatic audits with respect to 

Treasury’s operation of TARP and the 

recipients’ compliance with their obligations 

under relevant law and contracts; evaluates 

TARP policies and procedures; and provides 

technical assistance to Treasury.

Investigations ($27,003,000 from direct 

appropriations)

Supervises and conducts criminal and civil 

investigations into those persons and entities, 

whether inside or outside of government, who 

waste, steal, or abuse TARP funds.

Legislative Proposals 

 

SIGTARP has no legislative proposals for 

FY 2012. 

 
SIGTARP Performance by Budget Activity

Budget Activity Performance Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012

Actual Actual Actual Target Target

Audit Percent of Recommendations

Implemented (Oe)(%)

N/A 100.0 43.0 70.0 70.0

Investigations Percentage of Investigations

Accepted by Prosecutors (Oe)(%)

N/A 95.0 100.0 55.0 55.0

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

DISC - Discontinued, and B – Baseline

Description of Performance 

 

SIGTARP is continuing to set challenging 

performance goals with positive results. The 

Audit Division (AD) continues to review 

TARP policies and procedures including 

TARP agreements. A particular focus of the 

AD is ensuring that internal controls are in 

place and are complied with, both by Treasury 

in its management of TARP and by the 

recipients of TARP funds. Where controls or 

compliance are found to be lacking, or where 

particular aspects or policies are found 

ineffective at reaching TARP’s goals, AD 

assists the Special Inspector General in 

preparing recommendations to resolve issues. 

In the interests of maximizing criminal and 

civil enforcement, the Investigation Division 

(ID) coordinates closely with other law 

enforcement agencies with the goal of forming 

law enforcement partnerships, including task 

force relationships, across the Federal 

government to leverage SIGTARP’s expertise 

and unique position. ID also implements 

SIGTARP’s Hotline which accepts and 

processes telephone, e-mail, website, and inperson complaints. One of SIGTARP’s 

primary investigative priorities is to operate 

the SIGTARP Hotline to provide a simple, 

accessible way for the American public to 

report concerns of violations of criminal and 

civil laws in connection with TARP.