Mandatory Funding Levels for the FY 2016 President’s Budget – Treasury Chapter

(dollars in millions) 

(includes legislative proposals)

Appropriations (Dollars in Millions) FY 2014 FY 2015

Enacted Estimated Estimated $ Change % Change

 Refunding Internal Revenue Collections, Interest 1,038 1,509 2,024 $515 34.1%

 Payment to Resolution Funding Corporation 2,628 2,628 2,628 $0 0.0%

 Interest on Uninvested Funds 27 24 24 $0 0.0%

 Restitution of Forgone Interest 1,244 0 0 $0 0.0%

 Federal Interest Liabilities to States 1 1 2 $1 100.0%

 Interest Paid To Credit Financing Accounts 7,855 13,889 15,038 $1,149 8.3%

 Interest on Public Debt 429,568 431,591 485,751 $54,160 12.5%

 Other Interest -40,912 -57,296 -62,391 -$5,095 8.9%

INTEREST PAYMENTS: $401,449 $392,346 $443,076 $50,730 12.9%

MANDATORY ACCOUNTS:

Biomass Energy Development -3 0 0 $0 0.0%

Build America Bond Payments, Recovery Act 3,597 3,890 4,191 $301 7.7%

Check Forgery Insurance Fund 16 16 16 $0 0.0%

Cheyenne River Sioux Tribe Terrestrial Wildlife Habitat Restoration Trust Fund 2 2 1 -$1 -50.0%

Claims, Judgments, and Relief Acts 3,674 816 816 $0 0.0%

Community Development Financial Institutions Fund Program Account 1 1 64 $63 6300.0%

Comptroller of the Currency 641 1,014 1,081 $67 6.6%

Continued Dumping and Subsidy Offset 72 72 55 -$17 -23.6%

Exchange Stabilization Fund 99 117 160 $43 36.8%

Federal Financing Bank 2,474 2,745 2,869 $124 4.5%

Federal Reserve Bank Reimbursement Fund 427 395 397 $2 0.5%

Federal Tax Lien Revolving Fund 1 1 1 $0 0.0%

Financial Agent Services 599 670 670 $0 0.0%

Financial Research Fund 100 123 133 $10 8.1%

Fiscal Service 102 102 106 $4 3.9%

Grants for Specified Energy Property in Lieu of Tax Credits, Recovery Act 3,342 2,007 1,162 -$845 -42.1%

GSE Mortgage-Backed Securities Purchase Program Account 8 178 3 -$175 -98.3%

Gulf Coast Restoration Trust Fund 322 177 12 -$165 -93.2%

Informant Payments 35 70 75 $5 7.1%

Internal Revenue Collections for Puerto Rico 303 391 344 -$47 -12.0%

IRS Miscellaneous Retained Fees 365 373 376 $3 0.8%

Office of Financial Stability 217 184 155 -$29 -15.8%

Pay for Success 0 0 300 $300 0.0%

Payment in Lieu of Tax Credits for Promise Zones 0 0 12 $12 0.0%

Payment of Government Losses in Shipment 1 1 1 $0 0.0%

Payment to Issuer of New Clean Renewable Energy Bonds 29 27 29 $2 7.4%

Payment to Issuer of Qualified Energy Conservation Bonds 32 30 32 $2 6.7%

Payment to Issuer of Qualified School Construction Bonds 621 606 660 $54 8.9%

Payment to Issuer of Qualified Zone Academy Bonds 55 49 53 $4 8.2%

Payment to the Santee Sioux Tribe Development Trust Fund 7 0 0 $0 0.0%

Payment to the Yankton Sioux Tribe Development Trust Fund 33 0 0 $0 0.0%

Payment Where Adoption Credit Exceeds Liability for Tax 58 29 0 -$29 -100.0%

Payment Where Alternative Minimum Tax Credit Exceeds Liability for Tax 67 45 20 -$25 -55.6%

Payment Where American Opportunity Credit Exceeds Liability for Tax 4,244 4,295 4,356 $61 1.4%

Payment Where Certain Tax Credits Exceed Liability for Corporate Tax 39 130 40 -$90 -69.2%

Payment Where Child Tax Credit Exceeds Liability for Tax 21,490 21,511 22,434 $923 4.3%

Payment Where COBRA Credit Exceeds Liability for Tax 1 0 0 $0 0.0%

Payment Where Earned Income Credit Exceeds Liability for Tax 60,087 60,105 60,402 $297 0.5%

Payment Where Health Coverage Tax Credit Exceeds Liability for Tax 23 1 1 $0 0.0%

Payment Where Small Business Health Insurance Tax Credit Exceeds Liability 74 66 71 $5 7.6%

Presidential Election Campaign Fund 30 48 54 $6 12.5%

Refundable Premium Tax Credit and Cost Sharing Reductions 13,068 28,564 44,782 $16,218 56.8%

Reimbursements to Federal Reserve Banks 107 127 123 -$4 -3.1%

Santee Sioux Tribe Development Trust Fund 6 0 0 $0 0.0%

Small Business Lending Fund Program Account 42 30 15 -$15 -50.0%

State Small Business Credit Initiative 0 0 1,500 $1,500 0.0%

Terrorism Insurance Program 2 87 230 $143 164.4%

Therapeutic Discovery Program Grants and Administration 1 0 0 $0 0.0%

Travel Promotion Fund 93 93 100 $7 7.5%

Treasury Forfeiture Fund -6 557 1,378 $821 147.4%

Troubled Asset Relief Program Account 90 0 0 $0 0.0%

Troubled Asset Relief Program Equity Purchase Program 0 3 0 -$3 -100.0%

Yankton Sioux Tribe Development Trust Fund 30 2 0 -$2 -100.0%

 Subtotal, MANDATORY ACCOUNTS $116,718 $129,750 $149,280 $19,530 15.1%

 Offsets:

 Treasury Mandatory Offsetting Receipts -84,535 -29,324 -24,743 $4,581 -15.6%

TOTAL, DEPARTMENT OF THE TREASURY $433,632 $492,772 $567,613 $74,841 15.2%

FY 2016
Total Treasury Department Mandatory Budget

The Treasury Department Mandatory Budget 

includes $568 billion dollars in interest 

payments, mandatory accounts, and offsetting 

receipts (offsets). These accounts and the 

estimated budget authority are summarized 

below. Account totals include the effects of 

FY 2016 policy proposals. For more detailed 

descriptions of each account, please see the 

Department of the Treasury chapter in the 

FY 2016 Appendix, Budget of the U.S. 

Government at:

http://www.whitehouse.gov/omb/budget.

Interest Payments - $443 billion

These are permanent, indefinite funds for 

interest payments. This includes Interest on 

the Public Debt, which consists of all interest 

paid on Treasury securities and sold to the 

public and to Federal Government trust Funds, 

revolving funds and deposit funds. Treasury 

interest payment accounts also consist of

Refunds on Internal Revenue Collections

interest, Interest on Uninvested Funds, Interest 

paid to Credit Financing Accounts, Federal 

Interest Liabilities to the States, and Payments

to the Resolution Funding Corporation.

Mandatory Accounts - $149 billion

These are accounts for which the Congress has 

given the Department of the Treasury 

permanent authority to expend funds. These 

include permanent authority appropriations

that fund a number of programs under 

Treasury jurisdiction such as the Terrorism 

Risk Insurance Program; the Small Business 

Lending Fund and the State Small Business 

Credit Initiative. This also includes programs 

run out of the Office of Financial Stability, 

including the Troubled Asset Relief Program

(TARP). Other accounts that fall under 

mandatory programs include all Internal 

Revenue Service refundable tax credit 

accounts, certain user fees, and informant 

payments, as well as Grants for Specified 

Energy Property, and Therapeutic Discovery 

Program Grants. The Department is also a 

custodian for a number of government 

accounts and funds listed in this section and 

further detailed in the FY 2016 Appendix, 

Budget of the U.S. Government.

Mandatory Offsetting Receipts - $25 billion

Treasury’s mandatory accounts are offset by 

receipts which include payments to the 

Government that, by law, are credited directly 

to expenditure accounts and deducted from 

gross budget authority and outlays of the 

expenditure account. Treasury’s offsetting 

receipts also include the non-budgetary 

accounts that record all cash flows to and from 

the Government resulting from direct loans 

obligated since 2008.