the department 

of the treasury 

performance and 

accountability 

report 

fiscal year 2010 

November 15, 2010 
the united states 

department

 of the treasury

our vision 

Set the global standard in financial and economic leadership 

our mission 

Serve the American people and strengthen national security by managing the 

U.S. Government’s finances effectively, promoting economic growth and stability, and ensuring 

the safety, soundness, and security of U.S. and international financial systems 

our values 

service 

Work for the benefit of the American people 

integrity 

Aspire to the highest ethical standards of honesty, trustworthiness, and dependability 

excellence 

Strive to be the best, continuously improve, innovate, and adapt 

objectivity 

Encourage independent views 

accountability 

Responsible for our conduct and work 

community 

Dedicated to excellent customer service, collaboration, 

and teamwork while promoting diversity 
performance and 

accountability 

report 

fiscal year 2010 

the department 

of the treasury 
the department of the treasury 

ii 

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performance and accountability report | fiscal year 2010 

iii 

table of contents 

Message from the Secretary of the Treasury
 v 

Part 1: Management’s Discussion and Analysis 

Introduction 3
 

Organization 4
 

The Treasury Department’s 2007-2012 Strategic Framework 7
 

Fiscal Year 2010 Summary of Performance by Strategic Goal 8
 

Treasury’s Priority Performance Goals 10
 

Financial Highlights 11
 

Fiscal Year 2010 Performance by Strategic Goal 12
 

Effectively Managed U S Government Finances 12
 

U S and World Economies Perform at Full Economic Potential 15
 

Prevented Terrorism and Promoted the Nation’s Security 

Through Strengthened International Financial Systems 29
 

Management and Organizational Excellence 32
 

Department of the Treasury Key Performance Measures for 2010 35
 

Summary of Management and Performance Challenges and High-Risk Areas 37
 

Analysis of Financial Statements 40
 

Improper Payments Information Act and Recovery Auditing Act 45
 

Management Assurances 47
 

Material Weaknesses, Audit Follow-up, and Financial Systems 48
 

table of contents 

table of contents
 
the department of the treasury 

table of contents 

iv 

Part 2: Annual Performance Report 

Introduction 53 

Completeness and Reliability of Performance Data 54 

Strategic Objective: Available Cash Resources to Operate the Government 56 

Strategic Objective: Improved Economic Opportunity, Mobility and Security with 

Robust, Real, Sustainable Economic Growth at Home and Abroad 77 

Strategic Objective: Trust and Confidence in U S Currency Worldwide 99 

Strategic Objective: Pre-Empted and Neutralized Threats to the International 

Financial System and Enhanced U S National Security 104 

Strategic Objective: Enabled and Effective Treasury Department 118 

Part 3: Annual Financial Report 

Message from the Assistant Secretary for Management and Chief Financial Officer 133 

Inspector General’s Transmittal Letter 135 

Auditors’ Report on the Department’s Financial Statements 137 

Management’s Response to Auditors’ Report 151 

Financial Statements 152 

Notes to the Financial Statements 160 

Required Supplemental Information (Unaudited) 266 

Part 4: Other Accompanying Information 

APPENDICES 

Appendix A: Other Accompanying Information (Unaudited) 273 

Appendix B: Improper Payments Information Act and Recovery Auditing Act 277 

Appendix C: Management and Performance Challenges and Responses 285 

Appendix D: Material Weaknesses, Audit Follow-up, Financial Systems, 

and Recovery Act Risk Management 333 

Appendix E: Glossary of Acronyms 343 

table of contents