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; strengthen national security by 

combating threats and protecting the integrity of the financial system; and manage the U.S. 

government’s finances and resources effectively.

Executive Summary

FY 2015 President’s Budget by Function

Dollars in thousands

Overview

The Department of the Treasury’s FY 2015 

request includes resources to strengthen the 

U.S. economy and job creation, help 

struggling homeowners, monitor risks to the 

financial system, encourage small business 

lending, protect taxpayers, promote fair and 

effective revenue collection, fight financial 

 

FY 2013 FY 2014 FY 2015 Increase/ Percent

Operating 

Level1,2 Enacted Request Decrease Change

Management & Financial $1,285,929 $1,338,388 $1,316,208 ($22,180) -1.66%

Departmental Offices Salaries and Expenses $292,257 $312,400 $308,734 ($3,666) -1.17%

Department-wide Systems and Capital Investments Program $0 $2,725 $2,725 $0 0.00%

Office of Inspector General $28,091 $34,800 $35,351 $551 1.58%

Treasury IG for Tax Administration $143,761 $156,375 $157,419 $1,044 0.67%

Special Inspector General for TARP $41,716 $34,923 $34,234 ($689) -1.97%

Community Development Financial Institutions Fund $209,440 $226,000 $224,900 ($1,100) -0.49%

Financial Crimes Enforcement Network $104,993 $112,000 $108,661 ($3,339) -2.98%

Alcohol and Tobacco Tax and Trade Bureau $94,654 $99,000 $101,000 $2,000 2.02%

 Program Cap Adjustment Included in IRS $0 $0 ($5,000) ($5,000) 0.00%

Net, Alcohol and Tobacco Tax and Trade Bureau $94,654 $99,000 $96,000 ($3,000) -3.03%

Bureau of the Fiscal Service3 $370,017 $360,165 $348,184 ($11,981) -3.33%

Tax Administration $11,197,612 $11,290,612 $12,476,527 $1,185,915 10.50%

IRS Taxpayer Services $2,122,553 $2,156,554 $2,317,633 $161,079 7.47%

IRS Enforcement $5,022,178 $5,051,178 $5,371,826 $320,648 6.35%

IRS Operations Support $3,740,943 $3,769,942 $4,456,858 $686,916 18.22%

IRS Business Systems Modernization $312,938 $312,938 $330,210 $17,272 5.52%

Subtotal, Treasury Appropriations Committee $12,483,541 $12,629,000 $13,792,735 $1,163,735 9.21%

 Treasury Forfeiture Fund ($950,000) ($836,000) ($950,000) ($114,000) 13.64%

Total, Treasury Appropriations Committee $11,533,541 $11,793,000 $12,842,735 $1,049,735 8.90%

Treasury International Programs $2,585,579 $2,690,229 $2,610,005 ($80,224) -2.98%

Economic Growth, National Security and Poverty Reduction (MDBs) $2,044,409 $2,075,449 $2,042,105 ($33,344) -1.61%

Food Security $156,647 $163,000 $30,000 ($133,000) -81.60%

World Bank Enviornmental Trust Funds $347,497 $428,280 $401,000 ($27,280) -6.37%

Debt Relief $11,392 $0 $92,400 $92,400 0.00%

Office of Technical Assistance (OTA) $25,634 $23,500 $23,500 $0 0.00%

Middle East Transition Fund $0 $0 $5,000 $5,000 0.00%

International Monetary Fund $0 $0 $16,000 $16,000 0.00%

Total $14,119,120 $14,483,229 $15,452,740 $969,511 6.69%

1 FY 2013 Operating Level reflects the full-year continuing resolution, reduced by the .2% rescission and sequestration.

3

 The FY 2013 Operating Level does not include the $1 million in Legacy Treasury Direct User Fee collections.

FY 2014 to FY 2015

2

 IRS FY 2013 Operating Level includes an interappropriation transfer of $73M from the Enforcement appropriation to Taxpayer Services 

($13M) and Operations Support ($60M) appropriations. FY 2014 Enacted includes $92 million in funding ($34 million to Taxpayer Services 

and $58 million to Operations Support). 
crimes, reinforce the international 

competitiveness of the United States, 

manufacture currency, and responsibly 

manage the U.S. government’s financial 

resources, among other duties.

The FY 2015 President’s Budget request 

proposes $13.8 billion for the Department’s 

operating accounts. Of this amount, $480 

million is provided via a program integrity 

cap adjustment intended to improve the 

integrity of the tax system. Within the total 

level of funding, Treasury continues to 

identify operational savings while making 

key investments in support of the 

Administration’s goals. In addition, the 

Budget proposes $2.6 billion for Treasury’s 

International Assistance programs in order 

to promote our national security, open new 

markets for U.S. exporters, and address key 

global challenges such as food security and 

the environment.

The FY 2015 Budget request for Treasury’s 

operating bureaus is 1.7 percent below the 

FY 2014 enacted level, excluding the IRS. 

The Budget identifies $154.2 million in 

efficiency savings and program reductions. 

The Budget aligns with the Department’s FY 

2014 to 2017 Strategic Plan, Agency 

Priority Goals, and Federal Priority Goals.

1

The Congressional Justification also serves

as the Department’s Annual Performance 

Report and Plan. 

 

1

Per the GPRA Modernization Act, P.L. 111-352, requirement to 

address Federal Goals in the agency Strategic Plan and Annual 

Performance Plan, please refer to Performance.gov for information 

on Federal Priority Goals and the agency's contributions to those 

goals, where applicable.

Treasury Strategic Goal: Promote 

domestic economic growth and stability 

while continuing reforms of the financial 

system

Treasury is committed to promoting 

economic growth that allows citizens and 

businesses to have more confidence in the 

safety and soundness of the financial 

system.

Supporting Small Businesses

The Small Business Jobs Act of 2010 

created the Small Business Lending Fund 

(SBLF) and the State Small Business Credit 

Initiative (SSBCI). The SBLF helps 

increase the availability of credit to small 

businesses by providing capital to 

community banks and community 

development loan funds with assets under 

$10 billion. In its first round of funding, 

SSBCI allocated $1.5 billion to strengthen 

state programs that leverage private capital 

and support lending to small businesses and 

small manufacturers that are creditworthy 

but unable to access the credit needed to 

grow and create jobs in their communities. 

The first $271 million in program

expenditures supported lending and 

investments of $1.9 billion to more than 

4,600 small businesses across the country—

creating or saving more than 53,000 

American jobs. The $1.5 billion original 

investment is expected to result in up to $15 

billion in new lending to small businesses in 

participating states. The Budget proposes a 

new authorization of $1.5 billion for SSBCI 

to build on the momentum of the program’s 

first round and strengthen the federal 

government’s relationships with state 

economic development agencies which are 

highly responsive to capital needs in local 

markets. This additional $1.5 billion would 

be awarded in two allocations, $1 billion 

awarded on a competitive basis to states best 

able to target underserved groups, leverage 
federal funding, and evaluate results and 

$500 million awarded according to a needbased formula based on economic factors 

such as job losses and pace of economic 

recovery.

Supporting Economic Growth and 

Opportunity

In FY 2013, Treasury continued to focus on 

economic growth for local communities and 

small businesses through funding for 

projects that would encourage job creation 

and further investment in distressed 

communities. The FY 2015 Budget 

proposes $224.9 million for the Community 

Development Financial Institutions (CDFI) 

Fund to promote economic development 

investments in low-income and underserved 

communities. Of the total request, $35 

million – an increase of $13 million from 

FY 2014 – for the Administration’s Healthy 

Food Financing Initiative will support 

increased availability of affordable, healthy 

food options for the food desert 

communities. The Budget also proposes 

legislation to extend the CDFI Bond 

Guarantee program by one year to provide a 

source of long-term capital to CDFIs that 

support lending in underserved 

communities. 

Treasury proposes to implement a fund to 

support Pay for Success projects. A 

growing number of state and local 

governments are using the Pay for Success 

model to finance preventive social programs 

that can post savings to the federal 

government while improving outcomes for 

families and communities. Emerging Pay 

for Success projects are hampered by an 

inability to leverage savings across levels of 

government and a lack of rigorous data that 

could help investors evaluate the risk 

associated with these ventures. A Pay for 

Success Fund will be designed to ensure that 

taxpayers get the best possible returns for 

funds expended and government assets are 

protected by exclusively paying for projects 

that show measurable outcomes resulting in 

greater federal savings and programmatic 

efficiency. The Budget proposes $300 

million in new mandatory funding for this 

program.

Implementing Financial Reform

The FY 2015 Budget continues 

implementation of the comprehensive 

financial reforms included in the DoddFrank Wall Street Reform and Consumer 

Protection Act. These reforms place tougher 

limits on risk-taking by financial institutions 

in order to promote financial stability and 

protect American people. 

The Financial Stability Oversight Council 

(FSOC), chaired by the Secretary of the 

Treasury, monitors threats to financial 

stability and facilitates coordination across 

the financial regulatory community. The 

Secretary is actively engaged in activities to 

identify risks, promote market discipline, 

and respond to emerging threats to U.S. 

financial stability. The Secretary also 

coordinates several rulemaking processes, 

including the risk retention rule, which aims 

to provide the economic incentive to 

securitize well underwritten mortgages and 

other assets, and the Volcker Rule, which 

changes behavior and practices in financial 

markets to help safeguard taxpayers. 

Treasury is represented at the international 

Financial Stability Board (FSB) by the 

Under Secretary for International Affairs. 

At the FSB, Treasury supports coordination 

to improve global financial stability. This 

will decrease the risk of regulatory arbitrage 

to the global financial system, avoid an 

undue regulatory burden for U.S. firms, and 

protect our economy from risks emanating 

from beyond our shores. 
The Federal Insurance Office (FIO) 

monitors all aspects of the insurance 

industry and advises the Secretary on 

insurance matters of national and 

international importance, as well as 

representing the United States on prudential 

aspects of international insurance matters, 

where previously, the United States had not 

been represented by any specifically 

designated individual, office, or 

agency. Among other projects, FIO is 

actively engaged in the FSOC and at the 

International Association of Insurance 

Supervisors.

The Office of Financial Research was 

created to serve the needs of FSOC and its 

member agencies, to collect and standardize 

financial data, to perform essential research 

and to develop new tools for measuring and 

monitoring risk in the financial system. The 

OFR is supporting the data needs for the 

FSOC’s nonbank designations process, 

continues to enhance its Financial Stability 

Monitor—a dashboard of financial stability 

metrics and indicators—and has played a 

central role in the international initiative to 

establish a global Legal Entity Identifier 

(LEI). 

Winding Down the Troubled Asset Relief 

Program

The actions taken under Troubled Asset 

Relief Program (TARP), along with other 

emergency measures put in place by the 

Board of Governors of the Federal Reserve 

System and the Federal Deposit Insurance 

Corporation (FDIC) helped prevent the 

collapse of the U.S. financial system and 

stabilize the economy. As Treasury 

continues winding down the investment 

programs in TARP, it continues operation of 

housing programs to help struggling 

homeowners avoid foreclosure. 

The true cost of the financial crisis will 

always be measured in the human suffering 

and economic damage it caused – the jobs 

that were lost, the businesses that were 

closed, and the college educations or 

retirements that were deferred. However the 

fiscal cost of TARP is also important. Of 

the $412 billion in support that TARP 

provided to the financial and automotive 

sectors, only $12.4 billion remains 

outstanding. Taxpayers have realized a 

significant positive return on TARP’s 

investments in banks. By the end of FY 

2013, taxpayers had recovered a total of 

$273.4 billion in repayments and other 

income - more than $27.9 billion above the 

total funds that were invested under TARP’s 

bank programs. The FY 2015 Budget 

estimates that excluding assistance to 

distressed homeowners, taxpayers will 

realize a positive net return of $15 billion 

from TARP investments and additional 

Treasury AIG support. 

Stabilizing the Housing Market

Using authority granted under the 

Emergency Economic Stabilization Act 

(EESA), Treasury established two central 

housing programs under TARP, the Making 

Home Affordable (MHA) program and the 

Hardest Hit Fund (HHF). Treasury also 

used its authority to support the Federal 

Housing Administration’s (FHA) Short 

Refinance Program. Combined, Treasury 

committed $38.5 billion to fund these 

housing programs under TARP. MHA and 

HHF have disbursed over $9.5 billion from 

inception through the end of FY 2013. 

More funds are expected to be disbursed 

over time as incentive payments are made 

for current participants and new 

homeowners entering into the programs.

Terrorism Risk Insurance Program 

In order to preserve the long-term 

availability and affordability of property and 
casualty insurance for terrorism risk, the 

Budget proposes to extend the Terrorism 

Risk Insurance Program and to implement 

programmatic reforms to limit taxpayer 

exposure and achieve cost neutrality.

Treasury Strategic Goal: Enhance U.S. 

Competitiveness and Job Creation, and 

Promote International Financial Stability 

and More Balanced Global Growth

Encouraging International Economic 

Growth and Stability

Treasury works bilaterally and multilaterally 

to foster strong, sustainable, and balanced 

global growth; to support free trade and 

open markets; to promote a level playing 

field for U.S. financial institutions; to

maintain stable international financial 

markets; to encourage foreign investment in 

the United States while protecting national 

security; and to use our leadership positions 

in the International Financial Institutions in 

pursuit of U.S. policy goals. The

Department’s operating account request 

includes funding for Treasury to continue 

advancing these economic and national 

security policy priorities around the world. 

The Department’s $2.6 billion FY 2015 

International Programs budget request 

provides a cost-effective way to promote our 

national security, support the next 

generation of export markets, and address 

key global challenges like environmental 

degradation and food security, while 

fostering private sector development and 

entrepreneurship. The FY 2015 request 

includes funding for capital increases and 

replenishments at the MDBs as well as 

contributions to several targeted trust funds 

and funding for Treasury’s Office of 

Technical Assistance. 

Finally, the request seeks to implement the 

2010 International Monetary Fund (IMF) 

agreement. In 2010, G-20 Leaders and the 

IMF membership decided on a set of quota 

and governance reforms designed to 

enhance IMF effectiveness. The United 

States successfully achieved its negotiating 

priorities in this process, (1) a U.S. quota 

increase with a simultaneous and equivalent 

roll back in our participation in the IMF’s 

New Arrangements to Borrow, representing 

no new financial commitment to the IMF; 

and, (2) preservation of the unique U.S. veto 

in the IMF. Implementation of the 2010 

reforms is necessary to prevent a loss of 

U.S. influence in the IMF.

Treasury Strategic Goal: Fairly and 

Effectively Reform and Modernize 

Federal Financial Management, 

Accounting, and Tax Systems 

The Fiscal Service

Treasury continues to invest in ways to 

improve the government’s ability to collect 

delinquent debt across all agencies, enhance 

program integrity, and return greater 

resources to taxpayers. Given its financial 

management expertise and leadership, the 

Fiscal Service will work with other agencies 

to improve USAspending.gov, the 

government’s website designed to share data 

on Federal spending. The Budget also 

requests support from the new Opportunity, 

Growth, and Security Initiative to improve 

USAspending.gov’s appearance and 

functionality for policy makers and the 

public. 

Internal Revenue Service

The IRS plays a unique role in government, 

and resources invested in the agency 

represent a smart investment for the nation’s 

taxpayers, returning many times their cost in 

the form of increased revenue. In recent 

years, the lack of sufficient funding for the 

IRS continues to have major implications for 

taxpayers and the tax system. As a result, 
taxpayers face longer wait times on the 

phone, and it takes longer to respond to 

taxpayer correspondence. A sustained 

deterioration in taxpayer service combined 

with reduced enforcement activity could 

create serious long-term risk for the U.S. tax 

system, which is based on voluntary 

compliance. The IRS supports voluntary 

compliance by addressing millions of 

taxpayers’ questions in their efforts to 

comply with the law and is an integral 

component of IRS’s compliance activities. 

For example, during the 2013 tax season, 

IRS taxpayer service representatives 

answered over 30.1 million phone calls in 

addition to 54 million calls answered 

through automation. Approximately 98 

percent of IRS tax collections in FY 2012 

resulted from voluntary payments made by 

taxpayers. Because the IRS collects more 

than 90 percent of all federal tax receipts 

each year, even a small decline in voluntary 

compliance could have a noticeable impact 

on revenue.

The FY 2015 Budget provides the IRS with 

$12 billion in base discretionary resources to 

invest in improving service to tens of 

millions of taxpayers, reducing the deficit 

through more effective enforcement of tax 

laws, including IT systems ready to meet the 

challenges of the 21st Century tax system, 

and fully funding the implementation of the 

Affordable Care Act. The Budget also 

proposes a $480 million cap adjustment to 

support program integrity efforts aimed at 

improving enforcement of current tax laws 

and reducing the tax gap. This multi-year 

effort is expected generate $52 billion in 

additional revenue over the next 10 years at 

a cost of just over $17 billion, thereby 

reducing the deficit by $35 billion. The 

targeted investments made in FY 2015 will 

generate over $2 billion in annual revenue 

once fully operationalized in FY 2017, 

returning nearly $6 to the Treasury for every 

dollar invested.

The Budget also provides $330.2 million for 

the Business Systems Modernization 

Program to invest strategically in state-ofthe art capabilities, such as online taxpayer 

services, that utilize and leverage the 

database infrastructure that is now in place. 

In addition to the Taxpayer Service request 

within the discretionary caps, the Budget 

requests resources from the new 

Opportunity, Growth, and Security Initiative 

to support additional IRS customer service 

improvements, including increasing toll-free 

telephone level of service by 11 percentage 

points to over 80 percent, driving 

responsiveness to taxpayers through 

correspondence inventory reduction, and 

bolstering resources to help tackle more 

highly burdensome identity theft and refund 

fraud cases.

Restoring Gulf Coast Communities

The Resources and Ecosystems 

Sustainability, Tourist Opportunities, and 

Revived Economies of the Gulf Coast States 

Act of 2012 (RESTORE Act) established the 

Gulf Coast Restoration Trust Fund (Trust 

Fund) to maintain the civil and 

administrative penalties arising from the 

Deepwater Horizon oil spill. Treasury 

serves oversight, administrative, 

compliance, and audit roles to help ensure 

that funds are expended as required by the 

RESTORE Act, and will work with the 

newly established Gulf Coast Restoration 

Council to administer these funds in 

supporting economic and environmental 

restoration in the Gulf Coast region. The 

Budget proposes legislation that will allow 

Departmental Offices to draw resources 

from the Trust Fund to carry out its 

responsibilities.
Treasury Strategic Goal: Safeguard the 

Financial System and Use Financial 

Measures to Counter National Security 

Threats 

The Office of Terrorism and Financial 

Intelligence (TFI), within the Departmental 

Offices, oversees and marshals Treasury’s 

intelligence, enforcement, and economic 

sanctions functions in support of U.S. 

national security policies and interests and 

with the twin aims of safeguarding financial 

systems against illicit use and combating 

rogue nations, terrorist facilitators, money 

launderers, drug kingpins, proliferators of 

weapons of mass destruction, and other 

national security threats. The Budget 

provides $105.9 million, an increase of $3.9 

million from FY 2014, to support TFI’s 

efforts. 

Successful Implementation of 

International Sanctions

In FY 2013, the Office of Foreign Assets 

Control (OFAC) tallied over 500 actions 

under its sanctions authorities in its efforts 

to disrupt and dismantle the financial 

networks that support weapons of mass 

destruction proliferators, terrorists, narcotics 

traffickers, and transnational organized 

crime, and target certain foreign regimes in 

support of U.S. national security, foreign 

policy, and economic interests. In particular, 

OFAC conducted a sustained sanctions 

campaign against Iran, its agents, and its 

front companies in response to Iran’s 

continued defiance of various United 

Nations Security Council resolutions related 

to its nuclear program. As a result, banks 

around the world have continued cutting off 

Iran from the international financial sector; 

this isolation has played an essential role in 

bringing Iran to the negotiating table.

Collection of Major Asset Forfeitures 

Supports Deficit Reduction

The Treasury Forfeiture Fund received over 

$1.7 billion in forfeitures and recoveries in 

FY 2013. The success of Treasury’s asset 

forfeiture program allows the Department to 

make priority investments in law 

enforcement and national security, without 

requesting additional resources from 

taxpayers. Further, it enables Treasury to 

contribute to deficit reduction with a 

proposed permanent cancellation of $950 

million from the Forfeiture Fund’s 

unobligated balances.

Improving the Cybersecurity of Our 

Nation’s Financial Sector

Cyber risks to financial institutions and 

markets are growing in both frequency and 

sophistication. Working with a combination 

of government, non-government, and private 

sector partners, both international and 

domestic, Treasury seeks to improve the 

protection and resilience of financial sector 

from cyber and physical attacks. In 

addition, the Budget proposes an increase of 

$10.9 million for investments in enhancing 

Treasury’s cyber-preparedness. 

Treasury Strategic Goal: Create a 21stCentury Approach to Government by 

Improving Efficiency, Effectiveness, and 

Customer Interaction

Treasury will continue to manage Treasury’s 

resources as effectively and efficiently as 

possible, creating the best value for all 

constituents.

Treasury has implemented a multi-pronged 

effort to expand the use of electronic 

transactions in conducting the business of 

government, including through electronic 

payroll savings bonds, electronic benefit 

payments, and electronic tax collection. 

These efforts have resulted in reduced costs, 
improved customer service, and decreased 

susceptibility to fraud. The Department’s 

“Paperless Treasury” initiative has saved the 

government hundreds of millions of dollars 

through electronic payment of benefits and 

increases in the electronic filing (e-file) rate 

for tax returns. The IRS’s e-file program 

has been highly successful, saving the 

Department millions of dollars every year. 

A current IRS focus is on efforts to expand 

web based services to introduce self-service 

and electronic-service taxpayer options to 

enable taxpayers to securely authenticate, 

view and print tax records online, pay 

outstanding debts and enter into installment 

agreements, establish a power of attorney, 

get tax law information, and easily access all 

parts of IRS.gov. This effort will deliver the 

enabling infrastructure and next wave of 

digital services to allow taxpayers to 

navigate the tax system, understand and 

meet their tax obligations, and conduct their 

business in the most efficient and effective 

manner.

Increase Shared Services

Treasury will continue to focus on achieving 

cost savings for American taxpayers, 

modernizing operations, and increasing 

productivity by governing strategically, 

working smarter, and leveraging technology. 

Increasing the use of shared services and 

better leveraging strategic sourcing for 

federal procurement will help achieve these 

goals.

Assesses the Future of Currency, 

including the Penny

The production and circulation of currency 

in the United States have been largely 

unchanged for decades, despite the growth 

in electronic financial transactions. 

Treasury is undertaking a comprehensive 

review of U.S. currency, including a review 

of both the production and use of coins, in 

order to efficiently promote commerce in the 

21st century. These studies will analyze 

alternative metals, Mint facilities, and 

consumer behavior and preferences, and will 

result in the development of alternative 

options for the penny and the nickel.

Savings Proposals

As a result of Treasury’s ongoing efforts to 

improve efficiency, reduce costs and 

streamline operations; the Department has 

been able to propose over $1.1 billion in 

savings in its budget submissions over the 

past four years. For example, the IRS 

implemented administrative cost savings by 

limiting employee travel and training to 

mission-critical projects. Training costs 

have been reduced by 83 percent and 

training-related travel costs by 87 percent 

between 2010 and 2013. 

Treasury’s FY 2015 request includes 

efficiency savings and program reductions 

of $154.2 million. Treasury’s bureaus have 

found savings from, the Paperless Treasury 

initiative at the Fiscal Service, increased efiling savings at the IRS, and administrative 

efficiencies across multiple bureaus.
FY 2015 President's Budget by Strategic Goal 

(Dollars in Thousands)

Direct $ Reimb. $ Direct $ Reimb. $ Direct $ Reimb. $ Direct $ Reimb. $ Direct $ Reimb. $ Direct $ Reimb. $

Management & Financial 482,094 33,490 81,049 13,326 496,723 239,328 238,305 45,429 18,037 3,641 1,316,208 335,213 

Departmental Offices Salaries and Expenses 62,654 10,881 81,049 13,326 41,075 10,226 108,644 31,429 15,312 3,641 308,734 69,502 

Department-wide Systems and Capital Investments Program 2,725 2,725 0 

Office of Inspector General 14,351 2,000 21,000 11,000 35,351 13,000 

Treasury Inspector General for Tax Administration 157,419 1,500 157,419 1,500 

Special Inspector General for TARP 34,234 34,234 0 

Community Development Financial Institutions Fund 224,900 112 224,900 112 

Financial Crimes Enforcement Network 108,661 3,000 108,661 3,000 

Alcohol and Tobacco Tax and Trade Bureau 46,060 3,061 49,940 3,451 96,000 6,512 

Bureau of the Fiscal Service 114,246 19,436 233,938 222,151 348,184 241,587 

Tax Administration 0 0 0 0 12,476,527 101,419 0 0 0 0 12,476,527 101,419 

IRS Taxpayer Services 2,317,633 40,212 2,317,633 40,212 

IRS Enforcement 5,371,826 32,446 5,371,826 32,446 

IRS Operations Support 4,456,858 28,761 4,456,858 28,761 

Business Systems Modernization 330,210 330,210 0 

Total, Treasury Appropriations Committee 482,094 33,490 81,049 13,326 12,973,250 340,747 238,305 45,429 18,037 3,641 13,792,735 436,632 

Treasury International Programs 2,610,005 2,610,005 0 

Total, Appropriated Level 482,094 33,490 2,691,054 13,326 12,973,250 340,747 238,305 45,429 18,037 3,641 16,402,740 436,632 

Non-Appropriated Bureaus 207,753 5,502,795 0 0 0 0 0 33,112 0 0 207,753 5,535,907 

Office of Financial Stability (Administrative Account) 183,640 183,640 0 

Small Business Lending Fund Program (Administrative) 17,361 17,361 0 

State Small Business Credit Initiative (Administrative) 6,752 6,752 0 

Financial Stability Oversight Council 20,372 0 20,372 

Office of Financial Research 91,749 0 91,749 

Bureau of Engraving and Printing 748,592 0 748,592 

United States Mint 3,571,451 0 3,571,451 

Office of the Comptroller of the Currency 1,070,631 33,112 0 1,103,743 

Subtotal, Direct $ 689,847 2,691,054 12,973,250 238,305 18,037 16,610,493 

Subtotal, Reimbursable $ 5,536,285 13,326 340,747 78,541 3,641 5,972,539 

Total, Treasury Level 6,226,131 2,704,380 13,313,997 316,846 21,677 22,583,032 

1/ Total does not include the proposed $950 million Forfeiture Fund permanent cancellation. 

Total Treasury Goal/Objective

Promote domestic economic 

growth and stability while 

continuing reforms of the 

financial system

Enhance U.S. competitiveness 

and job creation, and promote 

international financial stability 

and more balanced global 

growth

Fairly and effectively reform 

and modernize federal 

financial management, 

accounting, and tax systems

Safeguard the financial 

system and use financial 

measures to counter national 

security threats

Create a 21st-century 

approach to government by 

improving efficiency, 

effectiveness and customer 

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

(Direct and Reimbursable)

 

2013 Actual 2014 Enacted 2015 President's Budget

Appropriation Direct Reimb. Total Direct Reimb. Total Direct Reimb. Total

Departmental Offices Salaries and Expenses 1,189 125 1,314 1,171 132 1,303 1,188 132 1,320

Office of Inspector General 164 14 178 194 19 213 194 19 213

Treasury Inspector General for Tax Administration 772 2 774 835 2 837 835 2 837

Special Inspector General for TARP 168 0 168 192 0 192 192 0 192

Community Development Financial Institutions Fund 76 0 76 76 0 76 73 0 73

Financial Crimes Enforcement Network 300 2 302 345 1 346 345 1 346

Alcohol and Tobacco Tax and Trade Bureau 466 10 476 473 9 482 508 9 517

Bureau of the Fiscal Service 1,660 523 2,183 1,676 714 2,390 1,636 714 2,350

Internal Revenue Service 85,881 786 86,667 84,189 822 85,011 91,187 822 92,009

Subtotal, Treasury Appropriated Level 90,676 1,462 92,138 89,151 1,699 90,850 96,158 1,699 97,857

Office of Financial Stability (Administrative Account) 116 25 141 103 0 103 86 0 86

Small Business Lending Fund Program 24 0 24 19 6 25 19 6 25

State Small Business Credit Initiative 11 0 11 14 0 14 12 0 12

Financial Stability Oversight Council 0 23 23 0 25 25 0 26 26

Office of Financial Research 0 109 109 0 215 215 0 249 249

Treasury Franchise Fund 0 1,384 1,384 0 1,618 1,618 0 1,836 1,836

Bureau of Engraving and Printing 0 1,890 1,890 0 1,925 1,925 0 1,944 1,944

United States Mint 0 1,705 1,705 0 1,874 1,874 0 1,874 1,874

Office of the Comptroller of the Currency 0 3,822 3,822 0 3,953 3,953 0 3,997 3,997

Terrorism Insurance Program 6 0 6 10 0 10 10 0 10

Total 90,833 10,420 101,253 89,297 11,315 100,612 96,285 11,631 107,916

1/ In a few cases FTE numbers have been updated since data entry was completed in the OMB database. The numbers presented in this table are the most current 

estimates. 

2/ A portion of Fiscal Service’s Reimbursable/Fee FTE is funded by fee revenue as authorized by the Debt Collection Improvement Act (DCIA) of 1996. 

3/ IRS FY 2013 Actuals do not include 676 FTE funded from User Fees and 5 FTE from the Federal Highway Transportation Authority Account; IRS FY 2014 

Enacted and FY 2015 Request do not include 676 FTE funded from User Fees and 5 FTE from the Federal Highway Transportation Authority Account. 
Summary of FY 2015 Increases and Decreases

(Dollars in Thousands)

 Offsetting Fees/ Total, Treasury

 

Fiscal 

 

Cancellations/ Appropriations

 

DO DSCIP OIG TIGTA SIGTARP CDFI FinCEN TTB Service IRS Total Rescissions Committee

FY 2014 Enacted $312,400 $2,725 $34,800 $156,375 $34,923 $226,000 $112,000 $99,000 $360,165 $11,290,612 $12,629,000 ($836,000) $11,793,000

Adjustment to Request $0 $0 $0 $0 $0 $0 $0 ($2,000) $0 $0 ($2,000) $0 ($2,000)

Maintaing Current Levels (MCLs) $5,812 $0 $551 $2,898 $823 $462 $1,987 $1,824 $7,469 $223,177 $245,003 $0 $245,003

Non-Recurring Costs ($16,975) ($2,725) $0 $0 $0 $0 ($4,146) $0 ($11,064) ($92,000) ($126,910) $0 ($126,910)

Efficiency Savings ($2,960) $0 $0 ($1,854) ($1,512) $0 $0 ($2,824) ($8,386) ($95,200) ($112,736) $0 ($112,736)

Transfers $3,340 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,340 $0 $3,340

Adjustments to Base ($10,783) ($2,725) $551 $1,044 ($689) $462 ($2,159) ($3,000) ($11,981) $35,977 $6,697 $0 $6,697

FY 2015 Base $301,617 $0 $35,351 $157,419 $34,234 $226,462 $109,841 $96,000 $348,184 $11,326,589 $12,635,697 ($836,000) $11,799,697

Program Decreases $0 $0 $0 $0 $0 ($19,498) ($1,180) ($5,000) $0 $0 ($25,678) $0 ($25,678)

Program Reinvestments $0 $0 $0 $0 $0 $0 $0 $0 $0 $16,025 $16,025 $0 $16,025

Program Increases $7,117 $2,725 $0 $0 $0 $17,936 $0 $5,000 $0 $1,133,913 $1,166,691 $0 $1,166,691

Subtotal, Program Changes $7,117 $2,725 $0 $0 $0 ($1,562) ($1,180) $0 $0 $1,149,938 $1,157,038 $0 $1,157,038

Change to Offsetting 

Fees/Cancellations/Rescissions

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 ($114,000) ($114,000)

FY 2015 President's Budget $308,734 $2,725 $35,351 $157,419 $34,234 $224,900 $108,661 $96,000 $348,184 $12,476,527 $13,792,735 ($950,000) $12,842,735

1/ Total resources for FY 2015 includes a $950 million Forfeiture Fund cancellation. 

2/ Total Efficiency Savings for Treasury is $129 million. BEP and Mint savings of $15.750 million is not reflected in the chart above
ORGANIZATION

Throughout its rich history, Treasury’s core mission has not changed. With more than 100,000 employees in its 

ranks, Treasury is still the steward of the U.S. economy – taking in revenue, paying bills, and, when appropriate, 

borrowing and investing public funds. In more recent years, Treasury’s role has expanded to being a leader in 

safeguarding and growing the nation’s economy. Treasury is organized into the Departmental Offices, seven 

operating bureaus, and three inspectors general. The Departmental Offices are primarily responsible for policy 

formulation, while the bureaus are primarily the operating units of the organization.

DEPARTMENTAL OFFICES

Domestic Finance works to preserve confidence in 

the U.S. Treasury market, effectively manage federal 

fiscal operations, strengthen financial institutions and 

markets, promote access to credit, and improve

financial access and education in service of America’s 

long-term economic strength and stability.

International Affairs protects and supports U.S. 

economic prosperity and national security by working 

to help ensure the most favorable external environment

for sustained jobs and economic growth in the United 

States. 

Terrorism and Financial Intelligence (TFI)

marshals the Department’s intelligence and 

enforcement functions with the twin aims of 

safeguarding the financial system against illicit use and 

combating rogue nations, terrorist facilitators, weapons 

of mass destruction (WMD) proliferators, money 

launderers, drug kingpins, and other national security 

threats.

Economic Policy reports on current and prospective 

economic developments and assists in the 

determination of appropriate economic policies. The 

office is responsible for the review and analysis of 

domestic economic issues and developments in the 

financial markets.

Tax Policy develops and implements tax policies and 

programs, reviews regulations and rulings to administer 

the Internal Revenue Code, negotiates tax treaties, and 

provides economic and legal policy analysis for 

domestic and international tax policy decisions. Tax 

Policy also provides revenue estimates for the 

President’s Budget.

The Treasurer of the United States chairs the 

Advanced Counterfeit Deterrence Steering Committee 

and is a key liaison with the Federal Reserve. In 

addition, the Treasurer serves as a senior advisor to the 

Secretary in the areas of community development and 

public engagement.

Other Offices

Internally, the Departmental Offices are responsible for 

overall management of Treasury. The Office of 

Management and the Chief Financial Officer are 

responsible for managing the Department’s financial 

resources and overseeing Treasury-wide programs, 

including human capital, information and technology, 

acquisition, and diversity issues.

Other offices include General Counsel, Legislative 

Affairs, and Public Affairs. Three inspectors general—

the Office of the Inspector General (OIG), the Treasury 

Inspector General for Tax Administration (TIGTA), and 

the Special Inspector General for the Troubled Asset 

Relief Program (SIGTARP) — provide independent 

audits, investigations, and oversight of the Department 

of the Treasury and its programs. 

BUREAUS

The Alcohol and Tobacco Tax and Trade Bureau 

(TTB) collects federal excise taxes on alcohol, tobacco, 

firearms, and ammunition and is responsible for 

enforcing and administering laws covering the 
production, use, and distribution of alcohol and tobacco 

products.

The Bureau of Engraving and Printing (BEP)

develops and produces U.S. currency notes that are 

trusted worldwide.

The Financial Crimes Enforcement Network 

(FinCEN) safeguards the financial system from illicit 

use and combats money laundering and promotes 

national security through the collection, analysis, and 

dissemination of financial intelligence and strategic use 

of financial authorities.

The Bureau of the Fiscal Service (Fiscal 

Service) previously the Financial Management Service

and the Bureau of the Public Debt – provides central 

payment services to federal program agencies, operates 

the U.S. government’s collections and deposit systems, 

provides government-wide accounting and reporting 

services, and manages the collection of delinquent debt 

owed to the U.S. government. In addition, the Fiscal 

Service borrows the money needed to operate the U.S. 

government through the sale of marketable, savings, 

and special-purpose U.S. Treasury securities, and 

accounts for and services the public debt. 

The Internal Revenue Service (IRS) is the 

largest of the Department’s bureaus and determines, 

assesses, and collects tax revenue in the United States.

The United States Mint (U.S. Mint) designs, 

mints, and issues U.S. circulating and bullion coins; 

prepares and distributes numismatic coins and other 

items; and strikes Congressional Gold Medals and other 

medals of national significance. The Mint maintains 

physical custody and protection of most of the nation’s 

gold and all of its silver assets.

The Office of the Comptroller of the Currency 

(OCC) charters, regulates, and supervises national 

banks and federal savings associations to ensure a safe, 

sound, and competitive banking system that supports 

the citizens, communities, and economy of the United 

States. The OCC also supervises federal branches and 

agencies of foreign banks. Effective July 21, 2011, Title 

III of the Dodd-Frank Wall Street Reform and 

Consumer Protection Act transferred to the OCC 

responsibility for the supervision of federal savings 

associations (thrifts) and rule-making authority for all 

savings associations. 
THE DEPARTMENT OF THE TREASURY ORGANIZATIONAL 

CHART

Office of the Chief of Staff 

Bureau of the Fiscal 

Service 

United States Mint 

Treasury Inspector General 

for Tax Administration 

Treasurer 

General Counsel 

Assistant Secretary 

Management 

Assistant Secretary 

Fiscal 

Assistant Secretary 

Tax Policy 

Alcohol and Tobacco 

Tax and Trade Bureau 

Assistant Secretary 

 Public Affairs 

Assistant Secretary 

Terrorist Financing 

The Executive Office of 

Asset Forfeiture 

Financial Crimes 

Enforcement Network 

Assistant Secretary 

Financial Institutions 

Office of the Comptroller 

of the Currency 

Assistant Secretary 

Financial Stability 

Assistant Secretary 

Financial Markets 

Internal Revenue 

Service 

Under Secretary 

Domestic Finance 

Under Secretary 

Terrorism and Financial 

Intelligence 

Under Secretary 

International Affairs 

Inspector General 

Secretary 

Deputy Secretary Special Inspector General 

for the Troubled Asset 

 Relief Program 

Community Development 

Financial Institutions 

Fund 

Assistant Secretary 

International Markets 

and Development 

Assistant Secretary 

International Finance 

Assistant Secretary 

Economic Policy 

Assistant Secretary 

Legislative Affairs 

Bureau of Engraving 

and Printing 

Office of Financial 

Research 

Financial Stability 

Oversight Council 

Office of Foreign Assets 

Control 

Assistant Secretary 

Intelligence and 

Analysis 

Office of Technical 

Assistance 
TREASURY’S FISCAL YEARS 2014-2017 STRATEGIC FRAMEWORK

The Treasury’s Strategic Framework is a summary of the department’s goals and objectives. This framework provides the basis 

for performance planning and continuous improvement.2

Goal 1: Promote domestic economic growth and stability while continuing reforms of the financial system

Economic growth stimulates opportunity, mobility, and security for Americans; and allows citizens and businesses to have more 

confidence in the safety and soundness of the financial system. Treasury will continue its work promoting domestic stability in 

response to the financial crisis, building and strengthening domestic financial institutions and markets, and identifying 

emerging issues requiring Treasury leadership. Treasury will work to improve the health of the American workforce by 

promoting major initiatives that focus on job and skill creation and growing the tax base. Treasury also aims to stimulate 

domestic economic growth by facilitating commerce and promoting savings, access to credit, and affordable housing options.

Strategic Objective Lead Office

1.1 Promote savings and increased access to credit and affordable housing options Domestic Finance

1.2 Wind down emergency financial crisis response programs Domestic Finance

1.3 Complete implementation of financial regulatory reform initiatives, continue 

monitoring capital markets, and address threats to stability

Domestic Finance

1.4 Facilitate commerce by providing trusted and secure U.S. currency, products, and 

services for use by the public

Treasurer’s Office

Goal 2: Enhance U.S. competitiveness and job creation, and promote international financial stability and more 

balanced global growth

Treasury protects and supports American economic prosperity by strengthening the external environment for U.S. growth, 

preventing and mitigating global financial instability, and managing key global challenges. We promote policy positions, secure 

commitments, and negotiate agreements to develop existing and create new export markets for U.S. businesses and workers; 

manage near-term risks from financial instability abroad that could undermine the U.S. economy; press for market-determined 

exchange rates; boost consumption-led economic growth in surplus economies around the world; and assist counterparts in 

emerging economies in building sound financial systems free from corruption and economic crime.

Strategic Objective Lead Office

2.1 Promote free trade, open markets, and foreign investment opportunities International Affairs

2.2 Protect global economic and financial stability and press for market-determined 

foreign exchange rates

International Affairs

2.3 Advance U.S. economic, financial, and national security goals by leveraging 

multilateral mechanisms

International Affairs

2.4 Provide technical assistance to developing countries working to improve public 

financial management and strengthen their financial systems

International Affairs

 

2

For a full discussion of the Department’s current Agency Priority Goals and Cross-Agency Priority Goals, please refer to 

www.Performance.gov for the agency’s contributions to those goals and progress.
Goal 3: Fairly and effectively reform and modernize federal financial management, accounting, and tax 

systems

Treasury is entrusted with managing the nation’s finances. This includes collecting money due to the United States, making 

payments owed by the United States, and financing the federal government by determining and executing a borrowing strategy 

that meets the federal government’s needs at the lowest cost over time. It also includes accounting for, and reporting on, the

U.S. government’s finances to the American people. Sound financial management enables continual operation of essential 

government services and allows Treasury to meet its financial obligations while minimizing borrowing costs.

Strategic Objective Lead Office

3.1 Improve the efficiency and transparency of federal financial management and 

government-wide accounting

Bureau of the Fiscal Service

3.2 Improve the disbursement and collection of federal funds and reduce improper 

payments made by the U.S. government

Bureau of the Fiscal Service

3.3 Pursue tax reform, implement the Patient Protection and Affordable Care Act and 

Foreign Account Tax Compliance Act, and improve the execution of the tax code

Internal Revenue Service

Goal 4: Safeguard the financial system and use financial measures to counter national security threats 

Treasury works to protect the integrity of the financial system and advance key national security and foreign policy objectives 

through regulation, enforcement, financial intelligence analysis, outreach, and targeted financial measures. Treasury carries out 

this work with other U.S. federal agencies, state and local governments and regulators, foreign governments, international 

bodies, and private financial institutions around the world.

Strategic Objective Lead Office

4.1 Identify priority threats to the financial system using intelligence analysis and 

outreach to the financial sector

Terrorism and Financial Intelligence

4.2 Develop, implement, and enforce sanctions and other targeted financial measures Terrorism and Financial Intelligence

4.3 Improve the cybersecurity of our nation’s financial sector Domestic Finance

4.4 Protect the integrity of the financial system by implementing, promoting, and 

enforcing anti-money laundering and counterterrorism financing standards

Terrorism and Financial Intelligence

Goal 5: Create a 21st-century approach to government by improving efficiency, effectiveness, and customer 

interaction

Treasury’s future success, both immediate and long term, depends on sustaining and developing the resources required to 

achieve Treasury’s operational mission. Treasury will capitalize on 21st century advances in knowledge, techniques, and 

technology to manage Treasury’s resources as effectively and efficiently as possible, creating the best value for all constituents. 

Treasury’s critical resources are finances, physical assets, technology, and most importantly, people. We will invest in people by 

providing them purpose, motivation, support, and a fair and inclusive work environment in which every individual can excel. 

We will also take full advantage of information technology to maximize the use and sharing of data to enhance sound decisionmaking. We will maximize opportunities to improve its stewardship in acquiring and using goods and services. Overall, we will 

produce the best value for all of our customers and the American people. 
Strategic Objective Lead Office

5.1 Increase workforce engagement, performance, and diversity by instilling 

excellence, innovation, and inclusion in Treasury’s organizational culture and business 

practices

Management

5.2 Support effective, data-driven decision-making and encourage transparency 

through intelligent gathering, analysis, sharing, use, and dissemination of information

Management

5.3 Promote efficient use of resources through shared services, strategic sourcing, 

streamlined business processes, and accountability

Management

5.4 Create a culture of service through relentless pursuit of customer value Management

External Factors Affecting Treasury’s Strategic Outlook

Five years after the financial crisis, which resulted in trillions of dollars in lost household wealth and millions of jobs lost, the 

U.S. economy has returned to a position of stability and growth. While the outlook is much brighter than could have been 

imagined in the depths of the crisis, many challenges remain. In planning Treasury’s strategic direction for the next four years, 

we considered the potential impacts of factors outside of our control and how these factors might affect our ability to accomplish 

this plan. 

Market Uncertainty

Treasury, in conjunction with other agencies, has made great progress in implementing the financial regulatory reforms enacted 

in response to the financial crisis of 2008. These reforms aim to reduce the likelihood of similar crises in the future. However, 

reforms can never guarantee safety, especially in this rapidly globalizing world where a crisis in one country can have a domino 

effect on the financial stability of many others. Consequently, we must remain vigilant against future threats to the financial 

system and quickly react to warning signs to minimize damage. 

Pace of Technological Change

The pace of technological change impacts everything from the operation of financial markets (e.g., high frequency trading), to 

the disruption and rapid evolution of key industries, to the very way in which we conceive of currency. We must keep pace with 

technological changes in order to preserve the safety and fairness of the U.S. economy.

Increasing Sophistication of Criminals and Other Bad Actors

There will always be individuals and organizations who are motivated to actively defy U.S. and international laws, and who 

attempt to exploit the nation’s financial industry. Each year, criminals and bad actors deploy increasingly sophisticated methods 

to avoid detection or disrupt financial systems. We must be constantly vigilant and seek to anticipate these new methods or 

strategies to stay ahead of the next threat to financial stability and national security. 

Budget Constraints

Since 2010, the federal government has operated under multiple continuing resolutions instead of regular appropriations. 

Although the continuing resolutions allow for agencies to continue operating, they do so in a more restricted manner than under 

regular appropriations. Additionally, sequestration, which went into effect in 2013, reduces resources and creates management 

challenges for Treasury to achieve its goals. . As strides are being made by Congress to address this situation, such as the

bipartisan spending bill, Treasury will build on this progress by using its limited resources wisely and thoughtfully.
Alignment of Treasury Programs to Strategic Objectives

Strategic Goal Strategic Objective DO-DF DO-IA DO-TFI DO-ASM DO-OTP DO-EP IRS CDFI Fiscal OCC FinCEN TTB BEP Mint OFS FSOC/OFR TEOAF

1.1: Promote savings and increased access to credit and affordable 

housing options x x x x

1.2: Wind down emergency financial crisis response programs x x

1.3: Complete implementation of financial regulatory reform 

initiatives, continue monitoring capital markets, and address 

threats to stability

x x x x x

1.4: Facilitate commerce by providing trusted and secure U. S. 

currency, products, and services for use by the public x x x x

2.1: Promote free trade, open markets, and foreign investment 

opportunities x x x

2.2: Protect global economic and financial stability and press for 

market-determined foreign exchange rates x

2.3: Advance U.S. economic, financial, and national security goals 

by leveraging multilateral mechanisms x x

2.4: Provide technical assistance to developing countries working to 

improve public financial management and strengthen their 

financial systems

x

3.1: Improve the efficiency and transparency of federal financial 

management and government-wide accounting x x

3.2: Improve the disbursement and collection of federal funds and 

reduce improper payments made by the U.S. government x x

3.3: Pursue tax reform, implement the Patient Protection and 

Affordable Care Act and Foreign Account Tax Compliance Act, and 

improve the execution of the tax code

x x x

4.1: Identify priority threats to the financial system using 

intelligence analysis and outreach to the financial sector x x

4.2: Develop, implement, and enforce sanctions and other targeted 

financial measures x x x

4.3: Improve the cybersecurity of our nation’s financial sector 

critical infrastructure x x x

4.4: Protect the integrity of the financial system by implementing, 

promoting, and enforcing anti-money laundering and 

counterterrorism financing standards 

x x x

5.1: Increase workforce engagement, performance, and diversity by 

instilling excellence, innovation, and inclusion in Treasury’s 

organizational culture and business practices

5.2: Support effective, data-driven decision-making and encourage 

transparency through intelligent gathering, analysis, sharing, use, 

and dissemination of information 

5.3: Promote efficient use of resources through shared services, 

strategic sourcing, streamlined business processes, and 

accountability

5.4: Create a culture of service through relentless pursuit of 

customer value

Treasury's Management Office coordinates Treasury-wide 

efforts to achieve Goal 5 objectives; however, all Treasury 

Offices and Bureaus contribute to the achievement of these 

objectives within their organizations.

Goal 4: Safeguard the 

financial system and 

use financial 

measures to counter 

national security 

threats 

Goal 5: Create a 21stcentury approach to 

government by 

improving efficiency, 

effectiveness and 

customer interaction 

Goal 1: Promote 

domestic economic 

growth and stability 

while continuing 

reforms of the 

financial system

Goal 2: Enhance U.S. 

competitiveness and 

job creation, and 

promote 

international financial 

stability and more 

balanced global 

growth

Goal 3: Fairly and 

effectively reform 

and modernize 

federal financial 

management, 

accounting, and tax 

systems
MANAGEMENT PRIORITIES AND CHALLENGES

The Management priorities are reflected in the in strategic goal 5 “Create a 21st-century approach to government by 

improving efficiency, effectiveness, and customer interaction”. Additionally, progress made on last year’s 

Management priorities can be found in the FY 2015 Departmental Offices Congressional Justification.

Annually, in accordance with the Reports Consolidation Act of 2000, OIG and TIGTA identify the most significant 

management and performance challenges facing the Department. These challenges do not necessarily indicate 

deficiencies in performance; rather, some represent inherent risks that require continuous monitoring. Treasury 

made progress on these issues in fiscal year 2013, and will continue to focus on resolving them during fiscal year 2014 

and beyond.

TREASURY-WIDE MANAGEMENT CHALLENGES – AS IDENTIFIED BY OIG

 Continued Implementation of Dodd-Frank

 Management of Treasury’s Authorities Intended to Support and Improve the Economy

 Anti-Money Laundering and Terrorist Financing/Bank Secrecy Act Enforcement

 Gulf Coast Restoration Trust Fund Administration

IRS MANAGEMENT CHALLENGES – AS IDENTIFIED BY TIGTA

 Security for Taxpayer Data and IRS Employees

 Implementing the Affordable Care Act and Other Tax Law Changes

 Tax Compliance Initiatives

 Modernization

 Fraudulent Claims and Improper Payments

 Providing Quality Taxpayer Service Operations

 Human Capital

 Globalization

 Taxpayer Protection and Rights

 Achieving Program Efficiencies and Cost Savings

A summary of the planned corrective actions can be found in the FY 2013 Agency Financial Report; the FY 2015 

Budget supports implementation of the identified actions.
TREASURY’S FISCAL YEAR 2014-2015 AGENCY PRIORITY 

GOALS AND STATUS

The Treasury Department established two APGs to support improvements in near-term outcomes related to the 

Strategic Plan.

BY SEPTEMBER 2015, EMPLOY A PROACTIVE, INTELLIGENCE DRIVEN APPROACH TO 

FOCUS ENFORCEMENT EFFORTS AGAINST HIGH PRIORITY THREATS.

FinCEN is responsible for safeguarding the financial system from illicit use, which includes using enforcement 

measures to address high priority threats. The relevant area of responsibility constitutes tens of thousands of 

financial institutions in the United States and abroad. It is thus essential to take a risk-based, intelligence-driven 

approach to enforcement. With the technological advancements made available through the new FinCEN 

information technology system and a reorganization of personnel that realigns resources to intelligence and 

enforcement, FinCEN has an opportunity for improvement in this area. Specifically, FinCEN will leverage the new 

technology, FinCEN data, analytical resources, tools, and methodologies to identify high priority threats 

compromising our financial system. FinCEN will use this intelligence to focus its own enforcement efforts against 

high priority threats, and assess civil monetary penalties, impose injunctions, issue special measures under Section 

311 of the USA PATRIOT Act, and apply geographic targeting orders, as appropriate. FinCEN will also use this 

intelligence to help focus the enforcement actions of partner law enforcement and regulatory agencies in the United 

States and abroad. 

This APG aligns to strategic objective 4.1 “identify priority threats to the financial system using intelligence analysis 

and outreach to the financial sector.”

BY SEPTEMBER 2015, INTRODUCE SELF-SERVICE AND ELECTRONIC-SERVICE 

TAXPAYER OPTIONS TO ENABLE TAXPAYERS TO SECURELY AUTHENTICATE, VIEW,

AND PRINT TAX RECORDS ONLINE, PAY OUTSTANDING DEBTS, ENTER INTO 

INSTALLMENT AGREEMENTS, ESTABLISH POWERS OF ATTORNEY, GET TAX LAW 

INFORMATION, AND EASILY ACCESS ALL PARTS OF IRS.GOV.

The IRS will increase taxpayer satisfaction by delivering high-quality, timely, innovative, and consistent customer 

service to better address taxpayer needs, reduce burden, and encourage voluntary compliance. Using analytics and a 

user-centric approach, IRS will develop online options as part of its multi-channel service model. This APG’s 

objective is to deliver the enabling infrastructure and next wave of digital services to allow taxpayers to navigate the 

tax system, understand and meet their tax obligations, and conduct their business in the most efficient and effective 

manner. As a result of delivering better service to all taxpayers, the IRS brand will benefit by reflecting the attributes 

of transparency, fairness, trustworthiness, accessibility, and innovation.

This APG aligns to strategic objective 3.3 “pursue tax reform, implement the Patient Protection and Affordable Care 

Act and Foreign Account Tax Compliance Act, and improve the execution of the tax code.”