Message from the Secretary of the Treasury

Dear Member: 

On behalf of President Biden, it is my pleasure to submit the Department of Treasury’s budget

request for Fiscal Year 2022. This request comes during a time of four converging crises: ending

the COVID-19 pandemic, providing economic relief, tackling climate change, and advancing 

racial equity. The budget proposes investments that address each of these areas. Additionally,

the Fiscal Year (FY) 2022 President’s Budget invests in the core foundations of our country’s 

strength and advances key Treasury Department priorities that will be reflected in the upcoming 

Treasury Strategic Plan for FYs 2022-2026, including ensuring that all Americans are treated 

fairly by our tax system, expanding programs that offer loans to start-ups and small businesses to 

promote affordable housing and community revitalization projects, and closing loopholes that 

allow illicit actors to evade scrutiny, mask their dealings, and shield illegal activity.

Treasury’s request includes $13.2 billion for the IRS to ensure increased oversight of highincome and corporate tax returns to ensure compliance; provide new and improved online tools 

for taxpayers to communicate with the IRS easily and quickly; and improve telephone and inperson taxpayer customer service, including outreach and assistance to underserved 

communities. In addition, the American Families Plan includes proposals to overhaul tax 

administration and provide the IRS the resources and information it needs to address tax evasion. 

All told, these reforms will generate an additional $700 billion in tax revenue over the course of 

a decade, net of the investments made.

The budget provides $330 million, an increase of 22.2 percent above the 2021 enacted level, to 

support expanding the role of Community Development Financial Institutions (CDFI) with the 

goal of empowering the nation’s most vulnerable communities, including many rural and Tribal 

communities. This investment builds on an unprecedented level of support for the CDFI 

industry in 2021, including more than $3 billion in direct funding, $9 billion for investments in 

CDFIs and Minority Depository Institutions (MDI), and provisions in the American Rescue Plan 

encouraging CDFI participation in the $10 billion State Small Business Credit Initiative.

The budget includes $191 million for the Financial Crimes Enforcement Network, $64 million 

above the 2021 enacted level, to create a database as required by statute, that tracks the 

ownership and control of certain companies and organizations and helps combat the use of

complex corporate structures to shield illegal activity.

The FY 2022 Budget includes the information required for the Annual Performance Report. I

have validated the accuracy, completeness, and reliability of the performance data in this report.

Sincerely,

Janet L. Yellen t L Y l

U.S. Department of the Treasury 

FY 2022 Budget in Brief 

Summary of FY 2022 President’s Budget 

Executive Summary ....................................................................................................................................... 1 

Summary Tables and Charts 

FY 2022 President’s Budget Discretionary Appropriations Request ........................................................... 1 

Fiscal Year Comparison of Full-Time Equivalent (FTE) Staffing ................................................................ 4 

Summary of FY 2022 Increases and Decreases ........................................................................................ 5 

Appropriated Accounts – Bureau Program Detail 

Departmental Offices Salaries and Expenses ............................................................................................... 7 

Cybersecurity Enhancement Account .......................................................................................................... 13 

Department-wide Systems and Capital Investments Program ..................................................................... 23 

Terrorism and Financial Intelligence ............................................................................................................ 27 

Committee on Foreign Investment in the US (CFIUS) ................................................................................. 31 

Office of Inspector General .......................................................................................................................... 35 

Special Inspector General for TARP ............................................................................................................ 41 

Treasury Inspector General for Tax Administration ..................................................................................... 49 

Special Treasury Inspector General for Pandemic Recovery ...................................................................... 53 

Community Development Financial Institutions Fund .................................................................................. 55 

Financial Crimes Enforcement Network ....................................................................................................... 59 

Alcohol and Tobacco Tax and Trade Bureau .............................................................................................. 65 

Bureau of the Fiscal Service ........................................................................................................................ 73 

Internal Revenue Service ............................................................................................................................ 79 

Non-Appropriated Accounts – Bureau Program Detail 

Office of Financial Stability .......................................................................................................................... 91 

Office of Financial Research... .................................................................................................................... 95 

Financial Stability Oversight Council... ........................................................................................................ 99 

Treasury Franchise Fund .......................................................................................................................... 103 

Treasury Forfeiture Fund ........................................................................................................................... 111 

Bureau of Engraving and Printing .............................................................................................................. 115 

United States Mint ..................................................................................................................................... 121 

Office of the Comptroller of the Currency .................................................................................................. 127 

Treasury International Programs 

International Programs .............................................................................................................................. 131 

Supplemental Information 

Summary of FY 2022 Appropriations Language ........................................................................................ 139 

Mandatory Funding Levels for the FY 2022 President’s Budget – Treasury Chapter ................................ 151 

The information presented in the FY 2022 Budget in Brief is accurate and complete as of May 29, 2021. 

Any updates will be reflected in the budget available on the Department of the Treasury website, 

www.Treasury.gov. 

FY 2022 EXECUTIVE SUMMARY  

President’s Budget Discretionary Appropriation Request 

Dollars in Thousands

FY 2020 Enacted 

(post IRS 

transfer)3

FY 2021 

Enacted3

FY 2021 Enacted 

(post IRS 

transfer)3

FY 2022 

President's 

Budget

Management & Financial $1,538,377 $1,554,281 $1,554,281 $1,841,265 

Departmental Offices Salaries and Expenses $228,373 $233,000 $233,000 $270,669 

Committee on Foreign Investment in the United States (CFIUS) Fund1 $20,000 $20,000 $20,000 $20,000 

CFIUS Fees1 ($10,000) ($20,000) ($20,000) ($20,000)

Subtotal CFIUS Fund (non add)1 $10,000 $0 $0 $0 

Office of Terrorism and Financial Intelligence $169,712 $175,000 $175,000 $185,192 

Cybersecurity Enhancement Account $18,000 $18,000 $18,000 $132,027 

Department-wide Systems and Capital Investments Program $6,118 $6,118 $6,118 $6,118 

Office of Inspector General $41,044 $41,044 $41,044 $42,362 

Treasury Inspector General for Tax Administration $170,250 $170,250 $170,250 $175,762 

Special Inspector General for TARP $22,000 $19,000 $19,000 $17,000 

Community Development Financial Institutions Fund $262,000 $270,000 $270,000 $330,000 

Financial Crimes Enforcement Network $126,000 $126,963 $126,963 $190,539 

Alcohol and Tobacco Tax and Trade Bureau $119,600 $124,337 $124,337 $131,330 

Bureau of the Fiscal Service $340,280 $345,569 $345,569 $360,266 

Digitization of Unredeemed Matured Savings Bonds Records $25,000 $25,000 $25,000 $0 

Tax Administration2

Taxpayer Services $2,535,554 $2,555,606 $2,587,606 $2,940,876 

Enforcement $4,909,500 $5,212,622 $5,004,622 $5,462,823 

Operations Support $3,885,000 $3,928,102 $4,104,102 $4,448,195 

Business Systems Modernization $180,000 $222,724 $222,724 $305,032 

IRS Total Excluding Program Integrity Allocation Adjustment (PIAA) $11,510,054 $11,919,054 $11,919,054 $13,156,926 

PIAA $0 $0 $0 $416,897 

IRS Total, Including PIAA Adjustment $11,510,054 $11,919,054 $11,919,054 $13,573,823 

Subtotal, Treasury Appropriations excluding PIAA and TEOAF $13,048,431 $13,473,335 $13,473,335 $14,998,191 

Treasury Forfeiture Fund Total $0 ($75,000) ($75,000) $0 

Temporary Rescission $0 $0 $0 $0 

Permanent Rescission $0 ($75,000) ($75,000) $0 

Subtotal, Treasury Appropriation including TEOAF and excluding PIAA $13,048,431 $13,398,335 $13,398,335 $14,998,191 

Treasury International Programs $1,736,780 $1,890,319 $1,890,319 $3,278,034 

Multilateral Development Banks $1,522,205 $1,481,244 $1,481,244 $1,953,746 

Food Security $30,000 $32,500 $32,500 $43,000 

IMF PRGT Load Subsidy Cost $0 $0 $0 $2,000 

IMF PRGT Grant $0 $0 $0 $100,000 

Environmental Trust Funds $139,575 $139,575 $139,575 $1,074,288 

Office of Technical Assistance $30,000 $33,000 $33,000 $38,000 

Debt Restructuring - Tropical Forest Conservation Act $15,000 $15,000 $15,000 $15,000 

Debt Service Suspension Initiative and Common Framework $0 $0 $0 $52,000 

Somalia - Bilateral Debt Relief $0 $78,000 $78,000 $0 

Sudan - Bilateral and Multilateral Debt Relief4 $0 $111,000 $111,000 $0 

Total, Treasury Appropriations excluding PIAA and TEOAF $14,785,211 $15,363,654 $15,363,654 $18,276,225 

Total, Treasury Appropriations excluding PIAA $14,785,211 $15,288,654 $15,288,654 $18,276,225 

Total, Treasury $14,785,211 $15,288,654 $15,288,654 $18,693,122 

1/ The overall request for Treasury's CFIUS costs is $39.57 million, which includes $15 million from the CFIUS Fund and $24.57 million from Departmental Offices 

Salaries and Expenses. CFIUS fee estimates assume full year actual collections of $20 million in FY 2021. The Congressional Budget Office estimated $5 million to 

be collected in the Consolidated Appropriations Act, PL 116-260 due to the timing of the rulemaking final notice and other implementation factors.

2/ FY 2021 Enacted (est. post IRS Transfer) includes a proposed transfer of $208 million from Enforcement to Taxpayer Services ($32 million) and Operations 

Support ($176 million).

3/ Excludes funding provided for COVID-19 Pandemic response. 

4/ In FY 2021, Congress also appropriated $120 million to Treasury's debt restructuring account for clearing Sudan's arrears with the IMF on an emergency basis. 

Department of the Treasury - Budget in Brief 1

Executive Summary
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. 

OVERVIEW OF REQUEST 

The Budget requests $15.0 billion in base discretionary resources for the Department of the 

Treasury’s domestic programs, a $1.5 billion or 11.3 percent increase from the FY 2021 enacted 

level. 

 Provides the IRS with $13.2 billion from base discretionary appropriations to collect more

than $3 trillion in revenue, process more than 245 million tax returns, ensure compliance;

provide new and improved online tools for taxpayers to communicate with the IRS easily and

quickly; and improve telephone and in-person taxpayer customer service, including outreach

and assistance to underserved communities.

o The request provides $305 million for multi-year modernization efforts to deliver

long-term, systemic transformation of service and compliance for millions of

taxpayers, small businesses, and corporations, as well as put IT operations and

maintenance costs on a sustainable path. The IRS will continue developing a case

management solution to replace legacy systems, new digital service options

including electronic notices and live chat assistance, and new web applications to

streamline taxpayer filing, payment, and authentication.

o The request proposes $176 million for Taxpayer First Act implementation to

expand digital services, provide taxpayers with a seamless user experience, and

develop and implement strategies for reaching underserved communities.

o The request includes $5.5 billion in the enforcement account to continue building

compliance staffing and protect billions of dollars in revenue. The IRS is one of

the best investments in the federal government with an overall return on

investment of $5 for every $1 invested, not including significant deterrence

effects. Every dollar invested in enforcement requires a funding increase in

operations support for technology and administrative costs.

 In addition to the amounts above, the request includes a proposal to invest $80 billion in the

IRS to overhaul tax administration and provide it the information it needs to address tax

evasion. This investment is split between a program integrity allocation ($417 million in FY

2022) and a mandatory provision and is expected to yield approximately $700 billion in total

revenue over ten years including the impact of the enforcement increases and the new

information reporting requirements.

 Includes $132 million for the Department-wide Cybersecurity Enhancement Account to

address Department-wide breach mitigation activities due to SolarWinds and other emerging

risk areas.

 Requests $190.5 million for the Financial Crimes Enforcement Network (FinCEN), a $63.5

million increase over the FY 2021 enacted level. This increase will allow FinCEN to fully

Department of the Treasury - Budget in Brief 2

Executive Summary
implement the provisions in the Anti-Money Laundering Act of 2020 (AML Act) and the 

Corporate Transparency Act (CTA). This includes the design and development of an 

information technology database system to collect and safely secure beneficial ownership 

information. In addition, the budget includes resources to address the expansion of FinCEN’s 

role in administering the Bank Secrecy Act to include innovation, regulatory reform, and 

industry engagement. 

 Includes $330 million for the Community Development Financial Institutions (CDFI) Fund, a 

$60 million increase over FY 2021 enacted and the highest level in the history of the Fund. 

The request supports the need for increased capital flow to communities and geographies 

where access to capital is least efficient and most needed – including rural areas and 

persistent poverty counties, and in communities that are experiencing long term and 

structural impacts from historically discriminatory economic and housing policies. In 

addition, the budget proposes to increase funding for the Capital Magnet Fund by $12 billion 

over ten years through an American Jobs Plan initiative. 

 Provides $270.7 million for Treasury Departmental Offices (including $24.6 million for the 

Committee on Foreign Investment in the United States) to continue to support pandemic 

recovery efforts, address climate change, income equality and racial equity, and restore the 

Treasury Department staffing levels to support key programs and other emerging risks.  

 Requests $25 million for the Special Inspector General for Pandemic Recovery by 

repurposing unobligated CARES Act balances. 

 Proposes legislation establishing a manufacturing financing facility to support increasing the 

size, competitiveness, and innovation of the U.S. manufacturing sector. The program will 

provide capital support including direct lending, loan guarantees, and potentially publicprivate risk-sharing models. Investments under the facility will attract private capital where 

risk otherwise precludes sufficient private market participation and will target building of 

long-term sustainable, globally competitive manufacturing production. 

Department of the Treasury - Budget in Brief 3

Executive Summary
Appropriation Direct Reimb. Total Direct Reimb. Total Direct Reimb. Total

Departmental Offices Salaries and Expenses2 638 39 677 721 39 760 836 39 875 

Terrorism and Financial Intelligence 477 39 516 551 35 586 575 41 616 

Cybersecurity Enhancement 4 4 6 6 10 10 

Office of Inspector General 150 150 180 180 190 190 

Treasury Inspector General for Tax Administration 731 2 733 760 2 762 760 2 762 

Special Inspector General for TARP 80 80 74 74 68 68 Community Development Financial Institutions Fund 70 70 82 82 89 89 Financial Crimes Enforcement Network 264 1 265 300 3 303 380 3 383 

Alcohol and Tobacco Tax and Trade Bureau 484 11 495 508 12 520 508 12 520 

Bureau of the Fiscal Service 1,499 358 1,857 1,577 412 1,989 1,617 412 2,029 

Internal Revenue Service funded from regular appropriations3 73,240 1,179 74,419 73,409 2,359 75,768 79,348 935 80,283 

Subtotal, Treasury Appropriated Level 77,637 1,629 79,266 78,168 2,862 81,030 84,381 1,444 85,825 Office of Financial Stability (Administrative Account) 14 14 11 11 10 10 Small Business Lending Fund Program 3 3 3 3 3 3 

Capital Magnet Fund 5 5 5 5 6 6 

Office of Financial Research 102 102 128 128 145 145 

Financial Stability Oversight Council 15 15 18 18 21 21 Treasury Franchise Fund 1,945 1,945 2,154 2,154 2,219 2,219 

Bureau of Engraving and Printing 1,740 1,740 1,863 1,863 1,863 1,863 

United States Mint 1,539 1,539 1,671 1,671 1,671 1,671 

Office of the Comptroller of the Currency 3,589 3,589 3,523 3,523 3,523 3,523 

Terrorism Insurance Program 5 5 7 7 8 8 

IRS Private Collection Agent Program 274 274 434 434 434 434 

Special Inspector General for Pandemic Recovery 2 2 66 66 76 76 Subtotal, Treasury Non-Appropriated Level 420 8,813 9,233 672 9,211 9,883 703 9,276 9,979 Total, Treasury 78,057 10,442 88,499 78,840 12,073 90,913 85,084 10,720 95,804 3/ Amounts for the IRS include 86 FTE funded from user fees in FY 2022 and exclude the proposed $417 million program integrity allocation adjustment that, if enacted, would increase IRS levels by an estimated 2,554 FTE in FY 2022. 

2020 Actual 2021 Operating Plan1 2022 President's Budget

2/ FY 2022 Direct FTE includes 18 positions funded by transfer from CFIUS Fund.1/ Excludes funding provided for COVID-19 Pandemic response. 

Fiscal Year Comparison of Full-Time Equivalent (FTE) Staffing (Direct and Reimbursable)

Department of the Treasury - Budget in Brief 4

Executive Summary
DO CFIUS2 TFI Cyber DSCIP OIG TIGTA SIGTARP CDFI FinCEN TTB FS IRS Total

FY 2021 Operating Plan1 $233,000 $20,000 $175,000 $18,000 $6,118 $41,044 $170,250 $19,000 $270,000 $126,963 $124,337 $370,569 $11,919,054 $13,493,335 

Maintaining Current Levels (MCLs) $6,540 $0 $4,817 $0 $0 $1,258 $5,300 $544 $0 $3,210 $3,885 $10,234 $327,995 $363,783

Pay Annualization $349 $234 $75 $349 $39 $137 $196 $557 $22,442 $24,378

Pay Raise $3,160 $2,119 $677 $3,165 $313 $1,109 $1,774 $5,049 $182,239 $199,605

FERS Contribution Increase $1,163 $836 $284 $1,177 $120 $517 $995 $1,676 $67,673 $74,441 

Non-Pay $1,868 $1,628 $222 $609 $72 $1,447 $920 $2,952 $55,641 $65,359 

Non-Recurring Costs (1,390) ($18,000) ($6,118) ($25,000) ($50,508)

Efficiency Savings/Reinvestment ($5,428) ($5,585) ($11,013)Other Adjustment/Initiative Annualization $5,428 $5,428 

Adjustments to Base $5,150 $0 $4,817 ($18,000) ($6,118) $1,258 $5,300 $544 $0 $3,210 $3,885 ($14,766) $322,410 $307,690FY 2022 Base $238,150 $20,000 $179,817 $0 $0 $42,302 $175,550 $19,544 $270,000 $130,173 $128,222 $355,803 $12,241,464 $13,801,025 

Program Decreases ($1,709) ($2,544) ($4,253)

CFIUS User Fees ($20,000) ($20,000)Program Increases/Reinvestments $32,519 $5,375 $132,027 $6,118 1,769 212 60,000 $60,366 $3,108 $4,463 $915,462 $1,221,419 

Subtotal, Program Changes $32,519 ($20,000) $5,375 $132,027 $6,118 $60 $212 ($2,544) $60,000 $60,366 $3,108 $4,463 $915,462 $1,197,166 FY 2022 President's Budget funded from discretionary resources

$270,669 $0 $185,192 $132,027 $6,118 $42,362 $175,762 $17,000 $330,000 $190,539 $131,330 $360,266 $13,156,926 $14,998,191 

Program Integrity Allocation Adjustment $416,897 $416,897 FY 2022 President's Budget including program integrity allocation adjustment

$270,669 $0 $185,192 $132,027 $6,118 $42,362 $175,762 $17,000 $330,000 $190,539 $131,330 $360,266 $13,573,823 $15,415,088 

Summary of FY 2022 Increases and Decreases

(Dollars in Thousands)1/ Excludes funding provided for COVID-19 Pandemic response. 2/ CFIUS Fund enacted levels are net appropriations including user fees.

Department of the Treasury - Budget in Brief 5

Executive Summary
Department of the Treasury - Budget in Brief 6

Executive Summary
Departmental Offices Salaries and Expenses 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating Plan Operating 

Plan Request $ Change % Change 

Executive Direction $36,775 $37,333 $49,020 $11,687 31.30% 

International Affairs and Economic Policy $52,825 $53,661 $62,827 $9,166 17.08% 

Domestic Finance and Tax Policy $78,153 $79,566 $90,658 $11,092 13.94% 

Treasury-wide Management and Programs $38,279 $39,779 $43,608 $3,829 9.63% 

Committee on Foreign Investment in the 

United States $22,341 $22,661 $24,556 $1,895 8.36% 

Subtotal, Departmental Offices Salaries 

and Expenses $228,373 $233,000 $270,669 $37,669 16.17% 

Offsetting Collections - Reimbursable $10,300 $11,000 $11,000 $0 0.00% 

Transfer from CFIUS Fund $15,000 $15,000 $15,000 $0 0.00% 

Total Program Operating Level $253,673 $259,000 $296,669 $37,669 14.54% 

Direct FTE 638 721 836 97 13.45% 

Reimbursable FTE 39 39 39 18 46.15% 

Total Full-time Equivalents (FTE) 677 760 875 115 15.13% 

Does not include $25M in funding appropriated in FY 2020 for Coronavirus Aid, Relief, and Economic Security (CARES) Act -related SBA 

Loans; reimbursable FTE include FTEs transferred in from CFIUS fund. 

Does not reflect the proposed move of the Office of Consumer Policy from the Executive Direction budget activity to Domestic Finance & Tax 

Policy. 

Summary 

The FY 2022 Budget for Treasury Departmental Offices (DO) Salaries and Expenses (SE) 

provides the necessary resources for the Treasury Department to tackle major issues confronting 

the U.S. economy. Funding is requested to continue to support pandemic response efforts, 

address climate change, income equality and racial equity, and restore the Treasury Department 

staffing levels to support key programs and address other emerging risks. This budget request 

also includes increases for DO’s IT infrastructure, including replacements for servers that have 

reached the end of their lives, and modernization of IT equipment and software that is used daily 

by DO staff. This budget request also transitions Treasury’s fleet management program by 

upgrading to electric vehicles and providing the infrastructure for DO to maintain this posture. 

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. 

Department of the Treasury - Budget in Brief 7

Appropriated Accounts - Bureau Program Detail
Budget Highlights 

Dollars in Thousands 

FTE Amount 

FY 2021 Operating Plan 721 $233,000 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $6,540 

Pay Annualization (1.0% average pay raise) 0 $349 

Pay Raise (2.7% average pay raise) 0 $3,160 

FERS Contribution Increase 0 $1,163 

Non-Pay 0 $1,868 

Non-Recurring Costs 0 ($4,364) 

Non-Recurring Costs Including CFIUS Infrastructure 

Investments 0 ($4,364) 

Other Adjustments: 2 $0 

FTE Annualization (OMWI and OCDO) 2 $0 

Subtotal Changes to Base 2 $2,176 

FY 2022 Current Services 723 $235,176 

Program Changes: 

Reinvestments 27 $4,364 

Staffing to Support CFIUS Program Growth 27 $4,364 

Program Increases: 86 $31,129 

Departmental Offices Staffing 86 $20,000 

Replacement of End of Life Servers 0 $3,341 

IT Modernization 0 $7,484 

Electric Vehicles and Associated Infrastructure 0 $304 

FY 2022 President's Budget Request 836 $270,669 

Budget Adjustments 

Adjustments to Request 

Maintaining Current Levels (MCLs) ...................................................... +$6,540,000 / +0 FTE 

Pay Annualization (1.0%) +$349,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$3,160,000 / +0 FTE 

Funds are requested for a 2.7% federal employee pay raise in January 2022.

FERS Contribution Increase +$1,163,000 / +0 FTE 

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

effective FY 2022.

Non-Pay +$1,868,000 / +0 FTE 

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

equipment. 

 

Department of the Treasury - Budget in Brief 8

Appropriated Accounts - Bureau Program Detail
Non-Recurring Costs ................................................................................. -$4,364,000 / -0 FTE 

Non-Recurring Costs Including CFIUS Infrastructure Investments -$4,364,000 / -0 FTE 

Reduction in DO SE-related non-labor expenses primarily related to the CFIUS program as the 

program finalizes facilities-related investments to support the increase of CFIUS staffing within 

the Treasury complex. 

Other Adjustments ................................................................................................... +$0 / +2 FTE 

FTE Annualization (OMWI and OCDO) +$0 / +2 FTE 

Technical adjustment for Treasury leadership approved staffing increases for the Office of 

Minority and Women Inclusion (OMWI) and Office of the Chief Data Officer (OCDO) related to 

DO’s FY 2021 request. 

One of Treasury’s priorities is to improve the Administration’s ability to support everyday 

Americans by addressing generational issues including income equality and racial equity. The 

Office of Consumer Policy (OCP) plays a crucial role in policy analysis related to these key 

issues. To help further these policy goals, Treasury plans to transfer OCP to Domestic Finance in 

FY 2021. This will centralize Treasury’s resources focused on domestic and consumer policy 

issues and improve Treasury’s ability to provide timely and accurate analyses of these programs 

of national importance. 

Reinvestments ............................................................................................ +$4,364,000 / +27 FTE

Staffing to Support CFIUS Program Growth +$4,364,000 / +27 FTE 

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

come from redirecting non-labor spending. 

Program Increases ................................................................................. +$31,129,000 / +86 FTE 

Departmental Offices (DO) Staffing +$20,000,000 / +86 FTE

This funding request seeks to provide Treasury’s policy offices with baseline staffing levels 

needed support the core Treasury mission and the Secretary’s priorities. Over the past four 

years, DO’s policy-related staffing levels were reduced by a total of 11 percent. The Department 

is critically understaffed in key Treasury offices that are the nexus for the Department’s response 

to economic crises and programs of national importance. 

Treasury requests $20 million to fund 86 positions in order to carry out Treasury’s mission and 

support key Administration priorities, including 1) responding effectively to the pandemic and 

supporting robust economic recovery; 2) addressing the threat of climate change; 3) addressing 

income inequality and ensuring racial equity; 4) reinforcing the United States’ position on the 

world stage. This request also provides funding policy and oversight functions within DO that 

have seen outsized workload growth due to of unfunded mandates placed upon the Department. 

These priorities represent generational challenges confronting the American people. The United 

States Government has already taken historic action to confront the pandemic, and Treasury is 

faced with an uphill battle to help analyze and advise on economic recovery efforts. Key among 

these is ensuring that the pandemic does not result in major setbacks for everyday Americans. 

Treasury will play a key role in understanding these issues, specifically with respect to how they 

impact income equality and racial equity. Likewise, the climate crisis is a top issue confronting 

U.S. national security and foreign policy. This funding will restore Treasury’s ability to monitor, 

Department of the Treasury - Budget in Brief 9

Appropriated Accounts - Bureau Program Detail
assess, and advocate for key U.S. government priorities in international settings in a manner that 

ensures global efforts support U.S. objectives and achieve congruence between domestic and 

international efforts. Finally, this request funds key programs that have seen a significant uptick 

in requirements. This includes management of the 1332 waiver program for the Affordable Care 

Act, analyses of countervailing duties in coordination with the Department of Commerce, and 

ongoing research related to infrastructure, housing, retirement security, digital assets, national 

security, and education and student loans 

Replacement of End of Life Servers +$3,341,000 / +0 FTE 

This funding represents DO SE’s portion of a larger project to replace servers that have now 

reached their end of life. April 2021 marks one year that DO’s workforce has been in a remote 

work environment due to the coronavirus pandemic. The challenges, weaknesses, and 

vulnerabilities of DO’s current infrastructure have been magnified in a way that may not have 

been apparent previously. Over the past several months, several of DO’s servers have reached 

their end of life, and over 120 additional servers will reach end of life by FY 2022. DO 

conducted several comprehensive studies to review its existing server infrastructure and 

application base. These assessments analyzed DO applications and workloads to determine their 

cloud suitability. Factors considered included: 

1) Suitability for migration to a cloud environment (i.e. whether the workload is elastic or if its 

migration presents any security concerns) 

2) Readiness to move to the cloud (i.e. understanding whether any remediation is required prior 

to migration), and 

3) Level of complexity (i.e. criticality of the business processes supported) 

If these servers are allowed to reach end of life, key IT infrastructure responsible for housing the 

data of vital programs used by every DO employee (e.g., email and virtual desktops), as well as 

data for critical national security programs, will be put at risk of failure or breach. 

IT Modernization +$7,484,000 / +0 FTE 

This funding represents DO SE’s portion of a larger project to modernize critical equipment and 

software that supports the DO workforce’s fundamental IT needs. This request would restore 

DO IT through key investments, including: 

1) End user equipment refreshes and enhancements to support a sustained telework 

posture. Many end user computing devices have reached the end of their useful life and 

require lifecycle replacement. Without a meaningful refresh, end user devices will fail, 

which will have an impact on staff productivity and ultimately impact Treasury’s ability to 

deliver on its mission. 

2) Redesign of Treasury’s intranet to improve user experience, site navigation, search 

capabilities and information architecture. DO has identified challenges with the current 

construct which impair users’ ability to find the information that they are looking for in a 

quick and easy way. DO intends to re-design and continuously improve its intranet to 

improve its usability, including by functionalities to accelerate actions and reduce complexity 

which are projected to decrease the time to initiate actions by >20 percent while having a 

correlating productivity impact. 

3) Modernization of legacy applications/enhancement of existing applications. DO has a 

definitive need to retire legacy applications built on aged technologies to reduce 

Department of the Treasury - Budget in Brief 10 Appropriated Accounts - Bureau Program Detail
cybersecurity risk, standardize low-code platform adoption, and realize operational 

efficiencies through common systems. DO has identified technology gaps and business 

process automation opportunities which will be prioritized for modernization to shift staff 

focus from low to high value work. 

4) Migration to managed remote access and remote desktop. DO’s current remote access and 

virtual desktop infrastructure were designed a decade ago and were intended to support 

traveling staff as well as a small number of episodic telecommuters. While hardware has 

been occasionally refreshed over the years, the underlying architecture has not changed over 

the past decade. A migration to a managed remote access and virtual desktop infrastructure 

will provide DO with added resiliency, demand elasticity, and scalability which does not 

exist in our current posture.

Electric Vehicles and Associated Infrastructure +$304,000 / +0 FTE 

Following the lead from Executive Order (E.O.) 14008, “Tackling the Climate Crises at Home 

and Abroad”, the U.S. Department of the Treasury joins in the Administration’s priority to 

develop a comprehensive plan to create good jobs and stimulate clean energy industries by 

revitalizing the Federal Government’s sustainability efforts. This includes Treasury’s 

commitment to use all available procurement authorities to augment its Department-wide fleet 

management program with a continued focus on the purchase and/or leasing of electric vehicles 

(EV) and its essential infrastructure. The planned resources will help Treasury comply with the 

requirements set forth by E.O. 14008 and reduce the carbon footprint of emissions into the 

atmosphere by acquiring an updated fleet of zero-emissions vehicles that can support mission 

operations. 

Legislative Proposals 

Departmental Offices Salaries and Expenses has no legislative proposals. 

Performance Highlights 

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

International Affairs and 

Economic Policy OTA - Program Engagement 3.8 3.8 3.3 3.6 3.6 

Treasury-wide Management and 

Programs 

Treasury-wide Leaders Lead 

Index of the Federal Employee 

Viewpoint Survey (FEVS) 

56 58 65 65 67 

Treasury-wide Management and 

Programs 

Percent of Procurement Dollars 

Spent on Small Business 42.63 40.4 46.14 36 40 

Description of Performance 

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. The result for FY 2020 is 3.3, a reduction of 0.5 from the FY 

Department of the Treasury - Budget in Brief 11 Appropriated Accounts - Bureau Program Detail
2019 result and a reduction of 0.3 from the FY 2020 target of 3.6. This result reflects the 

challenges of achieving and maintaining traction with foreign counterparts during the COVID-19 

pandemic, which forced OTA to provide assistance remotely, instead of engaging with 

counterparts in-person per OTA’s typical approach for providing technical assistance. 

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

Treasury set the goal to increase the “Leaders Lead” index above FY 2019 results. Treasury’s 

score for the Leaders Lead Index increased from 58 percent in FY 2019 to 65 percent in 

FY 2020, reaching the OPM established 65 percent benchmark for an organizational strength. 

Treasury’s score in FY 2020 exceeded the government-wide average by 3 and the average score 

for very large agencies by 4 percent. Targets are 65 percent for FY 2021 and 67 percent for 

FY 2022. 

Percentage of Procurement Dollars Spent on Small Business: 

Based on preliminary data in FY 2020, Treasury met or exceeded four out of five small business 

prime contracting goals. Treasury did not meet its Historically Under-utilized Zone (HUBZone) 

small business goal. Treasury did not meet four out of five small business subcontracting goals. 

All Treasury bureaus were included in the Small Business Goaling Report, with no exclusions. 

The FY 2020 overall small business goal in FY 2020 was set for 39.0 percent, and Treasury 

exceeded the goal at 46.14 percent. The FY 2021 small business goal is set at 36 percent and the 

tentative target for FY 2022 is 40 percent. One overarching challenge in FY 2020 to meet the 

HUBZone small business goal was that Treasury had competing priorities: 1) OMB’s directive to 

utilize Category Management principles and Best-in-Class (BIC) contracts to leverage existing 

government-wide contracting vehicles, where there is a lack of sufficient HUBZone small 

business firms available for use, and 2) the COVID-19 pandemic contracting response, where 

there are not enough HUBZone small businesses with capabilities that meet the COVID-19 

requirements. Particularly noteworthy is that Treasury far exceeded the small business 

contracting goals for the following socioeconomic groups: 

 Small and Disadvantaged Business – goal 5.0 percent, achieved 8.9 percent; 

 Women Owned Small Business – goal 5.0 percent, achieved 9.1 percent; and 

 Service-Disabled Veteran Owned Small Business – goal 3.0 percent, achieved 3.2 percent. 

Treasury did not meet the small business contracting goal for the following socioeconomic 

group: 

 Historically Under-utilized Zone (HUBZone) Small Business – goal 3.0 percent, achieved 

2.5 percent. 

Department of the Treasury - Budget in Brief 12 Appropriated Accounts - Bureau Program Detail
Cybersecurity Enhancement Account

Program Summary by Budget Activity

Dollars in Thousands

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022

Budget Activity Operating Plan Operating Plan Request $ Change % Change

Cybersecurity Enhancement Account 20,538 18,000 $132,027 114,027 633.5%

Total Program Operating Level $20,538 $18,000 $132,027 $114,027 633.5%

Direct FTE 3 6 10 4 66.7%

Total Full-time Equivalents (FTE) 3 6 10 4 66.7%

Summary

The Department’s strategic plan guides program and budget decisions for the Cybersecurity 

Enhancement Account (CEA). 

To proactively and strategically protect Treasury Information Technology (IT) systems against 

cybersecurity threats, the FY 2022 budget request includes $132.027 million for the CEA. The 

total President’s Budget requests $114.027 million to mitigate weaknesses identified through the 

SolarWinds incident at Treasury plus an additional $18 million for new and continued 

investments that support the critical IT improvements.

The FY 2022 discretionary request identified a cyber reserve of $750 million. The President’s 

Budget allocates these resources to nine agencies that were significantly impacted by the 

SolarWinds incident, one of which is the Department of Treasury. The purpose of the funding is 

to address immediate response needs and does not focus on wholesale replacement of IT systems 

at this time. The funding request targets critical cybersecurity needs at these nine agencies which 

prioritizes basic cybersecurity enhancements, including: cloud security, Security Operations 

Center (SOC) enhancements, encryption, Multi-Factor Authentication (MFA), increased logging 

functions, and enhanced monitoring tools. Treasury is also bolstering its cybersecurity posture 

with investments that provide a comprehensive assessments to identify the breadth and depth of 

this attack, along with containment and post-incident analysis to ensure the appropriate response 

is deployed to both protect and minimize the impacts of such attacks in the future. 

Treasury will use the CEA to centrally fund the assessment, response, recovery, and mitigation 

efforts to prevent or respond to instances where threat actors have the ability to pose a great risk 

to the Treasury IT infrastructure. The CEA is a multi-year account and managing CEA centrally 

allows Treasury to be more agile in its response to cybersecurity incidents and threats as well as 

leverage enterprise-wide services and capabilities. This account allows for enhanced efficiency, 

communication, transparency, and accountability around the mission of strengthening Treasury’s 

cybersecurity posture. Treasury elevates the importance of such initiatives and provides 

Treasury leadership, OMB, and Congress with better transparency into cybersecurity activities 

across the Department. 

The investments within the CEA account align with the National Institute of Standards and 

Technology (NIST) Cybersecurity core framework and reporting standards. This includes 

common cybersecurity activities and outcomes that are gaining use industry-wide: Identify, 

Department of the Treasury - Budget in Brief 13 Appropriated Accounts - Bureau Program Detail
Protect, Detect, Respond, and Recover. Treasury believes the NIST’s framework provides better 

clarity into the strategic focus of the Department’s cybersecurity investments, aligns with 

accepted industry standards, guidelines, and practices, and allows Treasury to more effectively 

respond to government-wide reporting requirements. 

Budget Highlights

Dollars in Thousands

 FTE Amount 

FY 2021 Operating Plan 6 $18,000 

Changes to Base:

Non-Recurring Costs (6) 

(18,000)

Subtotal Changes to Base (6) 

(18,000)

FY 2022 Current Services 0 $0 

Program Changes: 

Program Increases 10 

 

132,027 

Identify the Business Context, Resources & Cybersecurity Risk 3 

 

31,842 

Protect the Delivery of Critical Infrastructure Services 3 

 

50,433 

Detect Cybersecurity Events 2 

 

18,713 

Respond to Detected Cybersecurity Incidents 2 

 

21,258 

Recover by Maintaining Resilience and Restoration Plans 0 

 

9,781 

Total FY 2022 President's Budget Request 10 $132,027

*The budget includes $114.027 million designated to strengthen Treasury’s cybersecurity posture 

and address the impacts of the SolarWinds incident. 

Budget Adjustments

Program Increases ............................................................+$132,026,534 / +10 FTE 

Identify the Business Context, Resources & Cybersecurity Risk +$31,841,424 / +3 FTE 

Goal: Develop an organizational understanding to manage cybersecurity risk to systems, people, 

assets, data, and capabilities.

Risk Management Framework (RMF) Automation Tool +$2,100,672 / +0 FTE 

This is a continuation of a prior year request. While the FY 2021 request supports 

deployment in Departmental Offices (DO) and some Bureaus, the FY 2022 request plans to 

expand capabilities to all other Bureaus, including IRS. 

The RMF Automation Tool initiative will replace the Treasury Federal Information Security 

Modernization Act (FISMA) Treasury Federal Information Management System (TFIMS). 

TFIMS is Treasury’s system to track metadata, artifacts, and interconnections between 

systems. However, TFIMS currently operates largely as a document storage solution. It does 

not offer workflows or process automation and has limited reporting capabilities. The RMF 

Tool will automate a broad range of services for comprehensive, full integrated risk 

management, including controls scorecard measurement, dashboard reporting, and the 

generation of RMF System Assessment and Accreditation (SA&A) artifacts. Pivoting to 

digitally based processes will improve FISMA compliance without increasing security 

personnel costs. SA&A package generation within Treasury presently averages over 6 

Department of the Treasury - Budget in Brief 14 Appropriated Accounts - Bureau Program Detail
months. The RMF’s automation and workflow capabilities will reduce costs and improve 

efficiency based on analysis of cybersecurity personnel workloads. It will also provide an 

integrated suite of ongoing authorization capabilities. The tool would be deployed within DO 

first and then progressively rolled out to Treasury Bureaus.

Enterprise Cyber Risk Management (ECRM) +$2,395,967 / +1 FTE 

The Enterprise Cyber Risk Management (ECRM) initiative will continue to evolve 

Treasury’s approach to managing risks across the enterprise and will begin a continuous 

review of all of Treasury’s critical networks, systems, and data. ECRM enhances existing 

risk management processes through continuous planning, identification, categorization, 

prioritization, reporting, assessing, scoring, and remediation. Bureaus currently capture their 

system risk information into TFIMS. The ECRM ingests data from TFIMS, High Valued 

Assets (HVAs), Continuous Diagnostic and Monitoring (CDM) and other data sources at the 

department level to create an aggregated enterprise level cybersecurity risk register. This 

capability does not currently exist and implementing this process will enable Treasury to 

better understand the specific security needs of its most critical vulnerabilities, while gaining 

new insight as to how those vulnerabilities and mitigation strategies lower the risk across the 

larger federal enterprise. The funding and FTEs will support a continuous review of all 

enterprise risks which enables Treasury to achieve a better understanding of systems’ cyber 

vulnerabilities and the associated costs. ECRM will also enable Treasury to better prioritize 

risks and quantify the levels of effort and magnitude needed to reduce risk exposure. 

Supply Chain Risk Management Enhancements (SCRM) +$1,135,361 / +2 FTE 

Supply chain risk management (SCRM) has become an increasingly critical cybersecurity 

issue The FY 2019 National Defense Authorization Act prohibited agencies from procuring 

or renewing contracts for equipment, systems or services that use certain covered 

telecommunications. During a recent GAO audit, seven findings related to Treasury’s SCRM 

program were identified that must be addressed. The SCRM initiative will establish a process 

for Treasury to identify the types of hardware/software and third parties being utilized 

throughout Treasury and identify associated risks. This funding and FTEs will support efforts 

to identify SCRM risks and threats as well as provide needed support to bureaus in the form 

of guidance, facilitation of requirements, analysis, and tracking/oversight for software and 

hardware acquisitions. 

NIST Cross-Functional Investments (Identify the Business Context, Resources & 

Cybersecurity Risk) +26,209,424 / +0 FTE 

The following investments are allocated across multiple NIST framework categories for 

improving critical infrastructure cybersecurity. 

Post-Incident Response +$5,397,500 / +0 FTE 

Additional details about this investment is available at the end of this section. 

Threat Hunting, Treasury-wide Log Collection, Management and Certificate 

Security for Identification Management +$20,811,924 / +0 FTE

Additional details about this investment is available at the end of this section.

Department of the Treasury - Budget in Brief 15 Appropriated Accounts - Bureau Program Detail
Protect the Delivery of Critical Infrastructure Services +$50,432,839 / +3 FTE

Goal: Develop and implement appropriate safeguards to ensure delivery of critical services.

Cloud-Based Security +$7,500,000 / +0 FTE 

Investments in cloud-based security will focus on the sufficient security of systems and 

information that have been moved to cloud-based platforms. This includes; assessing 

potential cloud services for alignment with established Federal Risk Authorization 

Management Program (FedRAMP) security baselines, acquiring tools to enhance the security 

of cloud-based applications, granting agency Authority to Operate (ATO) for systems and 

service with an existing FedRAMP ATO, and the granting of ATOs to cloud service 

providers. 

High Value Assets (HVA) +$2,834,536 / +2 FTE 

In FY 2017, Treasury began funding Risk Vulnerability Assessments (RVA) and Security 

Architectural Reviews (SAR) within the CEA Account. This has allowed Treasury to analyze 

key systems more frequently than the SARs/RVAs performed by the Department of 

Homeland Security (DHS). To date, Treasury has conducted 11 RVAs/SARs (9 in FY 2020 

and 2 in FY 2021) outside of the DHS process. This request is estimated to fund 

approximately 18 additional assessments. These assessments include a review of Treasury’s 

critical networks, systems, and data through a continuous cycle of planning, identification, 

categorization, prioritization, reporting, assessment, and remediation. This cycle enables 

Treasury to better understand the security needs of its most critical assets and how these 

assets fit into the larger Federal enterprise. The increase in funding and FTEs will support 

continuous reviews of all critical assets, systems, information, and data, which will help 

Treasury better understand what is on their network, what is valuable to their stakeholders, 

and what is valuable to individuals with malicious intent.

Infrastructure +$2,037,000 / +0 FTE 

IT infrastructure improvements will include expanding the security controls for enterprise 

applications through secured license upgrades, expanded data processing and storage, and 

new recovery capabilities. This will help to protect the conversion of Active Directory 

Trusts to Federation, the hardening of shared service applications which provides for the 

authorization, and the authentication and single sign-on functionalities for applications and 

incident managements tools.

Centralized Key Management Services (CKMS) +$740,197 / +0 FTE 

In the Cybersecurity Act of 2015, agencies were directed to encrypt information at rest and in 

transit. While increasing encryption ensures that data is being processed and stored securely, 

it also creates new requirements for managing the encryption keys required to access this 

data and increases the number of keys to be inventoried and managed. Further, Treasury may 

decide that segmenting keys by system, service, or mission function may be advantageous. 

As decisions are made to segment keys, tracking and maintaining inventory becomes 

increasingly complex.

This initiative is a second-year investment building upon a CEA FY 2021 request to design, 

procure, and implement a service for Treasury and its Bureaus to manage encryption keys 

centrally. The initial 12-month pilot will have been completed using CEA FY 2021 funds. 

Department of the Treasury - Budget in Brief 16 Appropriated Accounts - Bureau Program Detail
This request will be used to fund the subsequent 18 months needed to reach initial operating 

capabilities. Once operational, CKMS will provide Treasury with the ability to automate key 

management and quickly revoke keys should they be compromised. The ability to quickly 

revoke keys is important to keeping Treasury systems and data safe; it extends to the overall 

IT Operations environment, since expiring certificates/keys can contribute to availability 

failures. 

NIST Cross-Functional Investments (Protect the Delivery of Critical Infrastructure Services) 

+37,321,106 / +1 FTE 

The following investments are allocated across multiple NIST framework categories for 

improving critical infrastructure cybersecurity. 

Post-Incident Response +$5,397,500 / +0 FTE 

Additional details about this investment is available at the end of this section. 

Treasury Shared Services Secure Operations Center (TSSSOC) 

+$8,707,267 / +1 FTE 

Additional details about this investment is available at the end of this section.

Threat Hunting, Treasury-wide Log Collection, Management and Certificate 

Security for Identification Management +$23,216,339 / +0 FTE 

Additional details about this investment is available at the end of this section.

Detect Cybersecurity Events +18,712,493 / +2 FTE

Goal: Develop and implement appropriate activities to identify the occurrence of a cybersecurity event.

NIST Cross-Functional Investments (Detect Cybersecurity Events) +18,712,493 / +2 FTE 

The following investments are allocated across multiple NIST framework categories for 

improving critical infrastructure cybersecurity. 

Treasury Shared Services Secure Operations Center (TSSSOC) 

+$8,707,267 / +2 FTE 

Additional details about this investment is available at the end of this section.

Threat Hunting, Treasury-wide Log Collection, Management and Certificate 

Security for Identification Management +$10,005,226 / +0 FTE

Additional details about this investment is available at the end of this section.

Respond to Detected Cybersecurity Incidents +$21,258,493 / +2 FTE

Goal: Develop and implement appropriate activities to take action regarding a detected cybersecurity incident.

Incident Analysis +2,546,000 / +0 FTE 

This investment is designated for Treasury’s efforts in investigative, forensics, advisory and 

strategic support in response to ongoing cybersecurity incident response. DO will also 

strategically source additional professional support services to maintain daily operational 

needs and capabilities for incident response activities.

Department of the Treasury - Budget in Brief 17 Appropriated Accounts - Bureau Program Detail
NIST Cross-Functional Investments (Respond to Detected Cybersecurity Incidents) 

+18,712,493 / +2 FTE 

The following investments are allocated across multiple NIST framework categories for 

improving critical infrastructure cybersecurity. 

Treasury Shared Services Secure Operations Center (TSSSOC) 

+$8,707,267 / +2 FTE 

Additional details about this investment is available at the end of this section.

Threat Hunting, Treasury-wide Log Collection, Management and Certificate 

Security for Identification Management +$10,005,226 / +0 FTE

Additional details about this investment is available at the end of this section.

Recover by Maintaining Resilience and Restoration Plans +$9,781,285 / +0 FTE 

Goal: Develop and implement appropriate activities to maintain plans for resilience and to restore any capabilities 

or services that were impaired due to a cybersecurity incident.

Enterprise Wide Cyber Exercise and Instrumentation +$998,000 / +0 FTE 

This initiative will plan, conduct, and report results from a large-scale cyber exercise across 

Treasury, in addition to implementing security instrumentation that empowers incident 

responders to share a common system view. This would be the first enterprise wide 

cybersecurity exercise conducted by Treasury and would test existing incident plans to 

ensure that plans recover vital services in the order needed.

Treasury will also test to ensure that components work together effectively in the face of a 

large-scale cyber incident and ensure that existing instrumentation within Treasury (e.g. 

Splunk, SCCM, Active Directory, etc.) are normalized to report consistent information.

This initiative aims to improve visibility into cybersecurity efforts, encourage information 

sharing across Bureaus, identify potential gaps in present plans, and reduce inconsistencies 

between systems to provide Treasury leadership with a Department-wide view while working 

to protect information systems from attack and recover critical functionality.

Containment +5,092,000 / +0 FTE 

These investments, to rebuild a clean environment, will provide full confidence to mission 

support activities. Safeguarding against threats requires investments to rebuild Treasury’s 

compromised environment to mitigate threat of lateral movement/burrowing by adversaries. 

NIST Cross-Functional Investments (Recover by Maintaining Resilience and Restoration 

Plans) +$3,691,285 / +0 FTE 

The following investments are allocated across multiple NIST framework categories for 

improving critical infrastructure cybersecurity. 

Threat Hunting, Treasury-wide Log Collection, Management and Certificate 

Security for Identification Management +$3,691,285 / +0 FTE 

Additional details about this investment is available at the end of this section.

Department of the Treasury - Budget in Brief 18 Appropriated Accounts - Bureau Program Detail
NIST Cross-Functional Investments

The following investments are allocated across multiple NIST framework categories for 

improving critical infrastructure cybersecurity. 

• Post-Incident Response,

This will enhance cybersecurity posture by addressing the IT architecture with investments in 

zero trust implementation, expanded SOC capabilities and data scanning tools for better 

threat analysis. The functions of this investment align with the Identify and Protect 

categories.

• Treasury Shared Services Secure Operations Center (TSSSOC),

Treasury’s Security Operations Centers (SOCs) are presently set up with GSOC to monitor 

the security for the perimeter of the Treasury enterprise’s Trusted Internet Connections 

(TIC), while Bureaus are responsible for their own SOCs which monitor Bureau-specific 

perimeters and systems. All of Treasury’s Bureaus utilize at least a portion of the 39 shared 

service services from the Treasury Franchise Fund. These services include programs that 

form the backbone of Treasury's HR systems (HR Connect) and security credentials 

(TEICAM). Currently, there is no dedicated SOC responsible for monitoring these shared 

services systems. This investment will establish the new SOC capabilities and FTEs will be 

supporting these efforts for implementation and ongoing monitoring. 

Presently, these systems utilize siloed approaches to incident response, log/vulnerability 

analysis, and system monitoring. While each system individually has some of these 

capabilities, no single entity has a mission to comprehensively manage them. This creates

possible security gaps. As a result, past alerts have been missed, coordination problems 

exacerbated, and incident response time lengthened. For example, when security incidents 

occur that impact multiple systems, IT teams need additional time to manually consolidate 

data to obtain decisions from authorizing officials. Any delay in response time increases 

security risks for the shared services programs, some of which manage massive amounts of 

important data, such as HR Records and identity management. To cite a specific example, on 

August 29, 2019, an Enterprise Application Cybersecurity (EAC) system was improperly 

made Internet accessible. No alerts or alarms went off when Internet traffic started going to 

the system. EAC only possesses system-specific monitoring capabilities, and GSOC only 

monitors the Department’s perimeter. All traffic had gone through Network Address 

Translation at Fiscal Service and consisted of valid, internal IPs. At the perimeter, GSOC did 

not possess system-specific workflow knowledge to discern “good” versus “bad” traffic, so 

they also did not raise any alarms. In this instance, Treasury was able to mitigate the 

problem, but any time an internal facing system is hacked or becomes exposed to the internet 

numerous potential risks can occur, including unauthorized access or data loss. The functions 

of the TSSSOC investment align with the Protect, Detect and Respond categories. 

• Threat Hunting, Treasury-wide Log Collection, Management and Certificate Security 

for Identification Management, 

The funding and FTEs will be used to address the critical cybersecurity needs across the 

Treasury network enterprise to support the deployment and implementation of advanced 

Department of the Treasury - Budget in Brief 19 Appropriated Accounts - Bureau Program Detail
network traffic protocol analysis, dynamic and static malware analysis, and applicable 

forensic analytics. This funding will also support the threat intelligence providing proactive 

posture with regards to emergent threats. Investments in annual exercises to identify threats 

in targeted systems provides for automated incident investigations and accelerates triage and 

response to operational incidents with advanced reporting and resource, and access to threat 

analysts. This will also assist in automating prevention and detection of malware, exploits, 

and in-process attacks through enhanced endpoint visibility. The functions of this investment 

align with the Identify, Detect and Respond categories. 

Legislative Proposals

The Cybersecurity Enhancement Account has no legislative proposals. 

Strategic Alignment

In accordance with the Government Performance and Results Act Modernization Act 

(GPRAMA) of 2010, the Department of the Treasury is currently developing the FY 2022 – 

2026 Departmental Strategic Plan. The Strategic Plan is scheduled for publication in 2022. The 

Annual Performance Plan will be updated in the FY 2023 President’s Budget to reflect new 

departmental strategic goals and objectives.

Performance Highlights

FY 2018 FY 2019 FY 2020 FY 2021 FY 2022

Performance Measure Actual Actual Actual Target Target 

Number of Major Incidents 0 0 1 0 1 

Number of Reported Incidents 225 152 206 150 150

Percentage of Tier I HighValue Assets (HVA) 

where Risk and Vulnerability Assessment (RVA) 

or Security Architecture Review (SAR) are 

Completed on Time

100 100 100 100 100

Percentage of High and/or Critical Findings from 

RVAs or SARs on Tier I HVAs that are closed by 

the end of the FY

N/A 57 80 75 75

Risk Management Assessment Overall Rating % 68 68 75 DISC DISC 

Key: Disc - Discontinue

Description of Performance

Number of Major Incidents: The number of major incidents, as defined in OMB M-19-02, 

reported by Treasury to Congress in a given fiscal year. This is a measure of how effective 

Treasury’s collective defenses are at mitigating the most damaging security threats. 

On December 12, 2020, the Department of the Treasury notified the Department of Homeland 

Security (DHS) Cybersecurity and Infrastructure Security Agency (CISA) of a major security 

incident as a result of the Department’s deployment of the SolarWinds Orion software product. 

The Department has completed compromise assessments, and all SolarWinds Orion products 

continue to remain offline across the Treasury Enterprise environment. The FY 2022 request 

Department of the Treasury - Budget in Brief 20 Appropriated Accounts - Bureau Program Detail
includes additional funding to mitigate weaknesses identified through the SolarWinds incident 

and for investments that support critical IT improvements.

Number of Reported Incidents: Each fiscal year, Treasury tracks the number of cybersecurity 

incidents reported to the United States Computer Emergency Readiness Team (US-CERT). This 

measures the effectiveness of Treasury’s defenses at mitigating security threats and indicates 

how often Treasury is being targeted by malicious actors. In FY 2020, Treasury witnessed a 

greater number of incidents being reported, this is indicative of increased threat activity coupled 

with enhanced detection and mitigation capabilities. The enhanced capabilities factored into the 

elevated target projection for FY 2020. Natural variation in actual results also played a role in the 

variation from FY 2019 to FY 2020. The FY 2021 target was decreased to reflect improved 

ability to validate incidents prior to submission. It was decided that the FY 2022 target should 

remain flat from FY 2021 numbers. 

Percentage of High and/or Critical Findings from Risk and Vulnerability Assessment (RVAs) or

Security Architecture Review (SARs) on Tier I High Value Assets (HVAs) that are closed by the

end of the Fiscal Year (FY): This is a measure of how Treasury addresses the vulnerabilities and 

potentially exploitable weaknesses of its most important systems, based on its HVA assessment 

process. Treasury’s CEA performance targets are based upon the percentage of HVA system 

assessments that are conducted in accordance with the HVA assessment cycle and the closure 

rate of resulting findings and/or Plans of Action and Milestones (POAMs) within the fiscal year. 

Treasury has consistently recorded a 100% completion rate for system assessments and currently 

has a 77% closure rate for associated findings and POAMs. This focus helps to ensure that the 

proper POAMs are in place for all assessed systems and that they are being acted upon in a 

timely manner. The investment will focus on remediation of vulnerabilities, as well as increased 

review and reporting on corrective actions to resolve all findings and recommendations discerned 

during the assessment process. It was decided that the FY 2022 target should remain flat from 

FY 2021 numbers. 

Additionally, the FY 2020 Risk Management Rating of 70 percent was exceeded through 

mitigation of known vulnerabilities and deployment of additional cyber capabilities. This 

performance measure was discontinued for FY 2021. 

Department of the Treasury - Budget in Brief 21 Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 22 Appropriated Accounts - Bureau Program Detail
Department-wide Systems and Capital Investments Program 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating Plan Operating 

Plan Request $ Change % Change 

Department-wide Systems and Capital 

Investments Program (DSCIP) $6,118 $6,118 $6,118 $0 0.00% 

Total Program Operating Level $6,118 $6,118 $6,118 $0 100.00% 

Total Full-time Equivalents (FTE) 0 0 0 0 0.00% 

Summary 

An icon of American architecture, the Main Treasury Building is the third oldest Federal 

building in Washington, after the Capitol and the White House, in continuous use. Unlike the 

Capitol or the White House, the Main Treasury Building is not under the jurisdiction of the 

Architect of the Capitol or GSA, respectively, but rather is the direct responsibility of the 

Treasury Department. The bulk of funding for its care through capital investments is provided 

through Department-wide Systems and Capital Investments Program (DSCIP). 

The Main Treasury Building was built with Congressional appropriations from 1836 to1869. 

From 1909 to 1910, the building received a special appropriation to modernize its infrastructure, 

which helped to bring the building into the 20th century. A major fire in 1996 resulted in a series 

of Congressional appropriations that ushered the Treasury Building into the 21st century. Now, 

25 years later, the building faces a magnitude of issues that need to be addressed, some of which 

pose life safety concerns, including issues related to Treasury and the Freedman’s Bank 

Buildings’ external and internal infrastructure and security posture. 

In FY 2016, Treasury conducted an internal facilities condition assessment of both buildings and 

found a range of needs to be addressed. Problems that were identified include immediate health 

and safety, potential system and mechanical failures, as well as areas in need of building 

modernization to improve efficiency, safety, and security. In FY 2017, an external architectural 

and engineering firm validated an estimated $98.7 million in remaining costs from that report. 

In addition to validating the identified repair needs, the report identified additional repairs and 

cyclic investment needs that are required over the next 20 years to maintain the building in 

adequate working order. 

Treasury’s FY 2022 request reflects a limited subset of those previously identified needs, which 

the Department plans to continue to work to address over time. Treasury will use a three-step 

long-term strategy to continue to maintain and modernize its owned spaces: (1) secure the 

building’s outer envelope; (2) conduct a condition assessment to identify additional needs 

associated with the buildings’ continual aging and deferred maintenance; and (3) based on this 

assessment, conduct an holistic modernization of the building’s systems and infrastructure. 

The FY 2021 Operating Plan prioritized $0.550 million to update the facility condition 

assessment. The FY 2022 request prioritizes work on the outer envelope of the Main Treasury 

Building. 

Department of the Treasury - Budget in Brief 23 Appropriated Accounts - Bureau Program Detail
May 2021, Treasury Departmental Offices provided notification of our intent to reallocate 

$3.7 million originally provided as part of the FY 2021 Department-wide Systems and Capital 

Investment Program (DSCIP) appropriation to meet pressing needs associated with the 

SolarWinds incident. In parallel with this change, DO is realigning currently available DSCIP 

resources towards priority capital facilities investments. 

Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2021 Operating Plan 0 $6,118 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $0 

Non-Recurring Costs 0 ($6,118) 

MT Exterior Repairs 0 ($5,118) 

MT/FBB interior repairs 0 ($450) 

Condition Assessment 0 ($550) 

Subtotal Changes to Base 0 ($6,118) 

FY 2022 Current Services 0 $0 

Program Changes: 

Program Increases: 0 $6,118 

Main Treasury Exterior Repairs 0 $6,118 

FY 2022 President's Budget Request 0 $6,118 

Budget Adjustments

Adjustments to Request 

Program Increases.................................................................. +6,118,000 / +0 FTE 

Main Treasury Exterior Repairs +6,118,000 / +0 FTE 

Funds the multiyear building maintenance effort to prevent more expensive repair work. 

Exterior repairs are needed to address weather-related intrusion which are impacting interior 

spaces, creating the need for require water damage remediation and mold control. Work items 

include: 

• Repairing failed masonry joints to protect from moisture penetration, cleaning the stone 

surfaces, and repairing damaged stone; 

• Repairing or replacing window frames suffering varying degrees of damage after years of 

weather exposure. Window work will require scaffolding which is expensive to rent/contract. 

Legislative Proposals 

The DSCIP has no legislative proposals. 

Description of Performance 

DSCIP enables the Department to make investments in capital improvements that support the 

missions of Treasury bureaus and programs. Treasury Operations has continued to strategically 

focus on restoring the health of the building envelope (shell), in an effort to correct the 

deteriorating building structure and infrastructure. Components of the Main Treasury building 

Department of the Treasury - Budget in Brief 24 Appropriated Accounts - Bureau Program Detail
that have been repaired, replaced, or funded, include new roofs FY 2019/2021 and repairs to 40 

percent of the windows FY 2015/2017. The Freedman’s Bank Building components that have 

been repaired, replaced, or funded include new roofs FY 2017/2019, repair of the domestic water 

line FY 2020/2022, and replacement of all windows FY 2009/2011. Funding and completion of 

these exterior items represent significant progress towards the preservation of the two buildings, 

maintaining a safe and healthy workplace, and reducing damage to the interior plaster and paint. 

The FY 2021 award of the expanded Facility Condition Assessment (FCA) will provide an 

update and validation to the immediate repair needs previously identified that will identify longterm capital expenses based on the expected useful life of the building systems and components. 

In addition to immediate repairs and long-term needs, the expanded FCA will provide feedback 

on code compliance, energy saving opportunities, and ADA compliance. 

Department of the Treasury - Budget in Brief 25 Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 26 Appropriated Accounts - Bureau Program Detail
Terrorism and Financial Intelligence 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating Plan Operating 

Plan Request $ Change % Change 

Terrorism and Financial Intelligence $169,712 $175,000 $185,192 $10,192 5.82% 

Subtotal, TFI $169,712 $175,000 $185,192 $10,192 5.82% 

Offsetting Collections - Reimbursable $8,543 $10,500 $10,500 $0 0.00% 

Total Program Operating Level $178,255 $185,500 $195,692 $10,192 5.49% 

Direct FTE 477 551 575 24 4.36% 

Reimbursable FTE 39 35 41 6 17.14% 

Total Full-time Equivalents (FTE) 516 586 616 30 5.12% 

Summary 

The Department of the Treasury’s Office of Terrorism and Financial Intelligence (TFI) requests 

$185.192 million, which is a $10.192 million increase from the FY 2021 enacted level. TFI 

requests these additional resources to continue to invest in its people as well as infrastructure, 

systems, and automated tools, thereby ensuring that TFI remains agile, innovative, and strategic 

in responding to the most pressing U.S. national security concerns. The budget prioritizes 

funding for Treasury’s targeted financial tools that protect the U.S. and international financial 

system from abuse, as well as countering the financial networks that support terrorists, weapons 

proliferators, organized transnational crime, rogue regimes, and other threats. This request 

covers three TFI components: 1) the Office of Terrorist Financing and Financial Crimes (TFFC), 

responsible for policy and outreach such as U.S. representation to the Financial Action Task 

Force (FATF); 2) the Office of Intelligence and Analysis (OIA), the sole intelligence community 

(IC) component in the Department of the Treasury; and 3) the Office of Foreign Assets Control 

(OFAC), which administers and enforces economic and trade sanctions. Separate requests were 

provided for: 1) the Financial Crimes Enforcement Network (FinCEN), responsible for BSA and 

CTA regulation, and 2) the Treasury Executive Office for Asset Forfeiture (TEOAF). 

TFI’s economic authorities continue to play an increasingly central role in countering some of 

the nation’s most critical security threats. This Administration and Congress rely upon TFI to 

develop strategies that employ all targeted financial measures, including sanctions, to implement 

U.S. national security and foreign policy goals towards China, Iran, Russia, Venezuela, Burma, 

Islamic State of Iraq and Syria (ISIS) and other terrorist organizations, human rights abusers and 

corrupt actors, narcotics traffickers, and other malign and destabilizing actors. This request also 

includes targeted tools that protect the U.S. and international financial system from abuse by 

illicit actors, to include unexpected challenges such as COVID 19-related illicit finance concerns. 

As reliance upon TFI’s authorities has grown, the corresponding growth in personnel across TFI 

and increased demand placed upon secure systems requires additional investment in mission 

support areas. TFI’s infrastructure investments have been developed with careful consideration 

of the personnel increase request with the intent of developing and maintaining a collaboration 

network that facilitates our operational and policy goals. 

 

Department of the Treasury - Budget in Brief 27 Appropriated Accounts - Bureau Program Detail
Budget Highlights 

 FTE Amount 

FY 2021 Operating Plan 551 $175,000 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $4,817 

Pay Annualization (1.0% average pay raise) 0 $234 

Pay Raise (2.7% average pay raise) 0 $2,119 

FERS Contribution Increase 0 $836 

Non-Pay 0 $1,628 

Other Adjustments: 8 $0 

Contracts 0 ($1,330) 

FTE Adjustment 8 $1,330 

Subtotal Changes to Base 8 $4,817 

FY 2022 Current Services 559 $179,817 

Program Changes: 

Program Adjustments 16 $0 

Non-recur 0 ($2,750) 

FTE Adjustment 16 $2,750 

Program Increases: 0 $5,375 

Replacement of End of Life Servers 0 $1,659 

IT Modernization 0 $3,716 

FY 2022 President's Budget Request 575 $185,192 

Budget Adjustments 

Maintaining Current Levels (MCLs) ....................................................... +$4,817,000 / +0 FTE 

Pay Annualization (1.0%) +$234,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$2,119,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$836,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$1,628,000 / +0 FTE 

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

equipment. 

Other Adjustments .................................................................................................... +$0/ +8 FTE 

Contracts -$1,330,000 / -0 FTE 

As a result of hiring delays due to the pandemic, funds initially intended to support FTE 

increases were re-programmed to finance one-time contract requirements in FY 2021. These 

funds are no longer needed to support contracts in FY 2022. 

 

Department of the Treasury - Budget in Brief 28 Appropriated Accounts - Bureau Program Detail
FTE Adjustment +$1,330,000 / +8 FTE 

The FY 2022 Budget reflects a +8 FTE technical adjustment from the FY 2021 Enacted

Budget. This technical adjustment reflects increased efforts at TFI to hire and on-board new 

staff. 

Program Adjustments ........................................................................................... +$0 / +16 FTE 

Non-recur -$2,750,000 / +0 FTE 

These funds are no longer needed to support renovation requirements in FY 2022 and can 

support expanded staffing. 

FTE Adjustment +$2,750,000 / +16 FTE 

The FY 2022 Budget reflects a +16 FTE technical adjustment from the FY 2021 Enacted Budget. 

This technical adjustment reflects increased efforts at TFI to hire and on-board new staff with 

funds no longer required for use towards renovations that program anticipates will be completed 

in FY 2022. 

Program Increases ..................................................................................... +$5,375,000 / +0 FTE 

Replacement of End of Life Servers +$1,659,000 / +0 FTE 

Funds are requested for TFI’s portion of a larger DO project to replace servers that have now 

reached the end of their useful life. Over the past several years, DO has prioritized its policyrelated mission by restricting inflationary increases for DO management offices. These 

reductions have impacted all facets of management, to include the Office of the Chief 

Information Officer. 

IT Modernization +$3,716,000 / +0 FTE 

Funds are requested for TFI’s portion of a larger DO project to modernize critical equipment and 

software that supports the TFI workforce’s fundamental information technology needs. 

Legislative Proposals 

The Office of Terrorism and Financial Intelligence has no legislative proposals. 

Performance Highlights 

TFI created new indicators and measures, which are being presented for the first time in this 

FY 2022 Budget. The table below reflects actuals FY 2020. 

Performance Measure 

FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Actual Actual Actual Target Target 

Regulatory documents published in the Federal 

Register within four months of publication of an 

Executive order or Congressional mandate 

during the fiscal year

N/A N/A 67% 75% 75% 

Designations and identifications released on 

time to the public without errors N/A N/A 97% 90% 90% 

Respond to de-confliction requests received 

from law enforcement N/A N/A 7 days 7 days 7 days 

Percent customer satisfaction with OIA 

products N/A N/A 

Customer 

Satisfaction Surveys 

not conducted in FY 

2020 due to the 

COVID-19 

pandemic. 

74% 74% 

Department of the Treasury - Budget in Brief 29 Appropriated Accounts - Bureau Program Detail
Description of Performance 

TFI has strategically applied Treasury’s powerful tools and authorities against bad actors, 

including rogue regimes, terrorist financiers, human rights abusers, proliferators of weapons of 

mass destruction, drug kingpins, and others. Since the beginning of FY 2020, Treasury has 

established four new and six modified sanctions programs. This included the use of tools and 

authorities to deter Iran’s nuclear and ballistic missile program, hindering Iran’s support of 

global terrorism, and offsetting efforts to destabilize the Middle East, Burma, Hong Kong, 

Venezuela, and others. 

The introduction of new government programs in response to COVID-19 and the economic 

distress caused by the pandemic resulted in an uptick in fraud and illicit activities. Treasury 

worked with the federal banking community to coordinate an interagency response and publish 

advisories for financial institutions (Advisories). 

In FY 2020, Treasury further expanded its role in cybersecurity through the creation of the Cyber 

Analysis Office, which worked with governmental partners and major financial institutions to 

gather intelligence aimed at disrupting global cyber theft operations. OIA’s Cyber Analysis 

Office also augmented analytic resources to detect and analyze emerging trends in state and nonstate use of virtual currencies to undermine U.S. national security. In September 2020, TFI 

worked with the Department of Justice and Department of Homeland Security to sanction two 

Russian nationals for their involvement in a sophisticated phishing campaign that resulted in 

losses of at least $16.8 million in 2017 and 2018. 

Department of the Treasury - Budget in Brief 30 Appropriated Accounts - Bureau Program Detail
Committee on Foreign Investment in the United States 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 20222 

Budget Activity Operating Plan Operating Plan Request $ Change % Change 

Treasury CFIUS Activities $15,000 $15,000 $15,000 $0 0.0% 

Other Member CFIUS Activities $5,000 $5,000 $5,000 $0 0.0% 

Treasury Departmental Offices S&E $22,341 $22,661 $24,556 $1,895 8.4% 

Subtotal, CFIUS $42,341 $42,661 $44,556 $1,895 4.4% 

Anticipated User Fees - CFIUS Fund ($20,000) ($20,000) ($20,000) 0 0.0% 

Total Program Operating Level $22,341 $22,661 $24,556 $1,895 8.4% 

Direct FTE 56 93 120 27 29.0% 

Total Full-time Equivalents (FTE) 56 93 120 27 29.0% 

*The FY 2020 actuals for user fees collected was $3.1 million. FY 2020 collections were impacted by the timing of the final rule issuance 

and decreases to global merger and acquisition activity as a result of the COVID-19 pandemic. 

Summary 

The Committee on Foreign Investment in the United States (CFIUS) was established in 1975 

under Executive Order 11858 to monitor the impact of foreign investment in the United States, 

and to coordinate and implement federal policy on such investment. CFIUS is composed of nine 

voting member agencies, some of which have multiple subcomponents. CFIUS’ unique design 

leverages the skills, subject matter expertise, and integrated analysis of Committee members and 

other relevant agencies. CFIUS voting members include: 

 Department of the Treasury 

 Department of Commerce 

 Department of Defense 

 Department of Energy 

 Department of Homeland Security 

 Department of Justice 

 Department of State 

 Office of Science Technology and Policy 

 Office of the United States Trade Representative 

As both Chair and member of CFIUS, Treasury is responsible for leading CFIUS in establishing 

policies, implementing processes and functions, and managing its daily operations. Treasury 

participates in every aspect of CFIUS, including reviews and investigations, policy and 

international relations, mitigation monitoring and enforcement, non-notified transaction analysis, 

legal support, and national security threat assessments. The Office of International Affairs (IA) 

is responsible for case management and coordination and representing the Committee to parties 

that file notices or declarations. The Office of General Counsel (OGC) provides legal support to 

IA and is responsible for certain analyses conducted on each notice filed with CFIUS. 

The Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) strengthened 

CFIUS to better address national security concerns arising from some types of investments and 

Department of the Treasury - Budget in Brief 31 Appropriated Accounts - Bureau Program Detail
transactions that were previously outside of its jurisdiction. Additionally, FIRRMA modernized 

CFIUS’ processes to better enable timely and effective reviews of covered transactions. 

FIRRMA also established the CFIUS Fund (the Fund), to be administered by the chairperson 

(the Secretary of the Treasury), to accept appropriated funds for these expanded responsibilities 

and functions, and to collect filing fees. 

The Treasury Department issued a final rule—effective August 27, 2020—establishing fees for 

any formal written notice of a “covered transaction” or “covered real estate transaction” filed 

with CFIUS. The fee applies to transactions filed as voluntary notices and not to transactions 

submitted as declarations (an abbreviated notification form). The revenue generated from the 

filing fees will offset some of the expenses associated with CFIUS’s activities to protect U.S. 

national security. The fee amount is based on the value of the transaction, according to tiers set 

forth in the rule, and range from $750 to $300,000. 

Pursuant to the final rule establishing filing fees, CFIUS collected over $3 million in filing fees 

in FY 2020, all of which were deposited into the General Fund of the Treasury. For FY 2021, 

over $11 million has been collected through May 21, 2021. While informed by historical 

transaction data, it is inherently difficult to estimate expected filing fee collections, given the 

number of external factors that influence the volume and nature of CFIUS filings in any given 

year—especially in the first year of a new regulatory regime. FY 2020 collections differ from 

the estimate assumed in the FY 2020 budget request for several reasons: that estimate was 

prepared before the final FIRRMA regulations and fee scale were developed and finalized; 

Treasury’s fee rule became effective later than assumed in the FY 2020 budget request; and, the 

COVID-19 pandemic affected global mergers and acquisition activity, which tends to broadly 

correlate with CFIUS filings. 

Case volume has increased significantly in recent years, from 172 notices formally reviewed in 

calendar year (CY) 2016 to 325 cases (comprised of 231 notices and 94 declarations reviewed 

under the critical technology pilot program) formally reviewed in CY 2019. The expanded 

jurisdiction authorized by FIRRMA took effect February 13, 2020. In FY 2021, a planned final 

rule took effect, which modified the mandatory declaration requirement for certain transactions 

involving U.S. businesses that produce, design, test, manufacture, fabricate, or develop one or 

more critical technologies. As 2020 data is not yet publicly available, the case volume reported 

here does not reflect the full impact of that legislation. The FY 2022 budget requests resources 

necessary to handle an anticipated workload of 1,000 cases per year (including significantly 

expanded activity with respect to non-notified transactions), mitigation monitoring, and 

international engagement. 

Treasury requests $20 million for the Fund in upfront appropriations that will be offset by an 

estimated $20 million in offsetting collections from filing fees, of which $15 million is proposed 

for transfer to Treasury to fund capital investments and staff to support Committee activities. 

The remaining $5 million will be available for transfer to other CFIUS agencies to facilitate, for 

example, interagency connectivity with Treasury’s information technology (IT) and case 

management systems, and to address other emerging needs. 

Department of the Treasury - Budget in Brief 32 Appropriated Accounts - Bureau Program Detail
Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2021 Operating Plan 93 $22,661 

Transfer in from CFIUS Fund $15,000 

FY 2021 DO SE CFIUS Base 93 $37,661 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $544 

Pay Annualization (1.0% average pay raise) 0 $40 

Pay Raise (2.7% average pay raise) 0 $326 

FERS Contribution Increase 0 $150 

Non-Pay 0 $28 

Non-Recurring Costs 0 ($3,013) 

Non-Recur to CFIUS Investments 0 ($3,013) 

Subtotal Changes to Base 0 ($2,469) 

FY 2022 Current Services 93 $35,192 

Program Changes: 

Program Increases: 27 $4,364 

Staffing to Support CFIUS Caseload Growth 27 $4,364 

Subtotal Program Changes 27 $4,364 

FY 2022 President's Budget Request 120 $39,556 

Note: CFIUS Fund transfers to non-Treasury agencies of $5 million are not included in this table.

Budget Adjustments 

Offsetting User Fees -$20,000,000 / -0 FTE 

Treasury and IA anticipate collection of filing fees that will be credited to the Fund as offsetting 

collections. 

Transfer in from CFIUS Fund +$15,000,000 / +0 FTE 

The CFIUS Fund anticipates transferring $15.0 million dollars to the DO Salaries and Expenses 

account to provide for Treasury DO CFIUS activities. 

Maintaining Current Levels (MCLs) .......................................................... +$544,000 / +0 FTE

Pay Annualization (1.0%) +$40,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$326,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$150,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$28,000 / +0 FTE 

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

equipment. 

Department of the Treasury - Budget in Brief 33 Appropriated Accounts - Bureau Program Detail
Non-Recurring Costs .................................................................................. -$3,013,000 / -0 FTE 

Non-Recur to CFIUS Investments -$3,013,000 / +0 FTE 

CFIUS will non-recur costs associated with configuring secure spaces for new CFIUS staff. This 

money is anticipated to be reinvested as staff on-board. 

Program Increases ................................................................................... +$4,364,000 / +27 FTE 

Staffing to Support Caseload Growth +$4,364,000 / +27 FTE 

Increase in CFIUS staffing to continue in light of anticipated program growth.

Legislative Proposals 

CFIUS has no legislative proposals. 

Performance Highlights FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Committee on 

Foreign Investment in 

the United States 

(CFIUS) 

Timely Review of CFIUS 

Cases 100 100 100 100 100 

Description of Performance 

In February 2020, Treasury published final regulations implementing FIRRMA. These 

regulations effectuated FIRRMA's expansion of the jurisdiction of CFIUS to review certain noncontrolling, non-passive investments by foreign persons into certain types of U.S. businesses, as 

well as certain transactions by foreign persons involving real estate in the United States. The 

regulations also implemented mandatory declarations for two types of transactions—where a 

foreign government is acquiring a “substantial interest” in certain U.S. businesses, and 

transactions involving certain U.S. businesses that produce, design, test, manufacture, fabricate, 

or develop one or more critical technologies. Additionally, the regulations created an exception 

to the mandatory declaration provision for investments by certain foreign persons defined as 

“excepted investors” based on their ties to certain countries identified as “excepted foreign 

states,” and their compliance with certain laws, orders, and regulations. In May 2020, Treasury 

initiated the collection of filing fees for notices filed with CFIUS and launched a secure webbased portal for parties to submit notices and declarations. 

Timely Review of CFIUS Cases: This measure tracks compliance with statutory deadlines for 

completing national security reviews of transactions notified to the CFIUS to ensure that the 

CFIUS process is timely and efficient. The target (100 percent) was met in CY 2020. IA’s 

target for this measure in CY 2021 and CY 2022 is 100 percent. 

Department of the Treasury - Budget in Brief 34 Appropriated Accounts - Bureau Program Detail
Office of Inspector General 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating 

Plan 

Operating 

Plan2 Request $ Change % Change 

Audit $30,524 $30,524 $31,182 $658 2.16% 

Investigations $10,520 $10,520 $11,180 $660 6.27% 

Subtotal, Organization Title $41,044 $41,044 $42,362 $1,318 3.21% 

Offsetting Collections - Reimbursable $9,000 $9,000 $9,000 $0 0.00% 

Total Program Operating Level $9,000 $9,000 $9,000 $0 100.00% 

Direct FTE 167 180 190 10 5.56% 

Total Full-time Equivalents (FTE) 167 180 190 10 5.56% 

FY 2020 Other Resources and Full-time Equivalents (FTE) reflect actuals. 

In FY 2021 additional appropriated resources were provided by the Consolidated Appropriations Act of 2021 (CAA) and the American Rescue 

Plan Act of 2021 (ARP) which are not included above: 

1. $3 Million for oversight of the Emergency Rental Assistance program (ARP). 

2. $6.5 million for oversight of the Emergency Rental Assistance program (CAA). 

3. $2.6 million for oversight of the Homeowner Assistance Fund (ARP). 

4. $35 million for oversight of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). 

Summary 

The FY 2022 request for $42,362,000 for the Office of Inspector General (OIG) will be used to 

fund critical audit, investigative, and mission-support activities to meet the requirements of the 

Inspector General Act of 1978, as amended, and other statutes including, but not limited to: the 

Cybersecurity Act of 2015; Dodd-Frank Wall Street Reform and Consumer Protection Act 

(Dodd-Frank); Federal Information Security Modernization Act of 2014 (FISMA); Federal 

Information Technology Acquisition Reform Act; Government Management Reform Act; 

Payment Integrity Information Act of 2019 (PIIA); Federal Deposit Insurance Act; Small 

Business Jobs Act of 2010; the Government Charge Card Abuse Protection Act of 2012; 

Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the 

Gulf Coast States Act of 2012 (RESTORE Act); the Coronavirus Aid, Relief, and Economic 

Security Act (CARES) the FY 2021 Consolidated Appropriations Act; and the American Rescue 

Plan Act (ARP). Specific mandates include (1) audits of the Department’s financial statements, 

(2) audits and/or evaluations of the Department’s information systems security program and 

practices as required by FISMA, (3) assessments of the Department’s cyber security information 

sharing, (4) audits of improper payments and recoveries under PIIA, (5) risk assessments and 

audits of charge card programs, and (6) material loss reviews of failed insured depositary 

institutions regulated by the Office of the Comptroller of the Currency (OCC). The OIG will also 

conduct audits of the Department’s highest risk programs and operations and respond to 

stakeholder requests for specific work, including: (1) operating in an uncertain environment; 

(2) cyber threats; (3) Bank Secrecy Act, anti-money laundering, and and-terrorist financing 

enforcement; (4) efforts to promote spending transparency and to prevent and detect improper 

payments; (5) information technology acquisition and project management; and (6) certain 

Treasury Pandemic Relief programs. 

Within its jurisdictional boundaries, the OIG also conducts audit of the highest risk programs and 

operations of the Gulf Coast Ecosystem Restoration Council (Council) established under the 

RESTORE Act. The highest risk programs and operations identified as the Council’s 

management and performance challenges include: (1) Federal Statutory and Regulatory 

Department of the Treasury - Budget in Brief 35 Appropriated Accounts - Bureau Program Detail
Compliance, (2) Grant and Interagency Agreement Compliance Monitoring, and (3) Loss of Key 

Leadership Over Administration of Gulf Coast Restoration Activities. 

The OIG will continue its investigative work to prevent, detect, and investigate complaints of 

fraud, waste, and abuse impacting Treasury programs and operations. This includes the detection 

and prevention or deterrence of employee misconduct and fraud. 

In accordance with the Government Performance and Results Act Modernization Act (GPRAMA)

of 2010, the Department of the Treasury is currently developing the FY 2022 – 2026 

Departmental Strategic Plan. The Strategic Plan is scheduled for publication in 2022. The 

Annual Performance Plan will be updated in the FY 2023 President’s Budget to reflect new 

Departmental strategic goals and objectives. The OIG will publish a component plan that aligns 

bureau activities and priorities to the Department’s by early spring 2022.

FY 2022 Budget Highlights 

Dollars in Thousands 

FTE Amount 

FY 2021 Operating Plan 180 $41,044 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 1,258 

Pay Annualization (1.0% average pay raise) 0 75 

Pay Raise (2.7% average pay raise) 0 677 

FERS Contribution Increase 0 284 

Non-Pay 0 222 

FY 2022 Current Services 180 $42,302 

Program Changes: 

Program Decreases 0 (1,709) 

 Reduction in Contracts and Absorption of Rent 

Increase 0 (1,709) 

 Program Increases: 10 1,769

 Workforce FTE Adjustment 10 1,709 

 Electric Vehicles and Associated Infrastructure 0 60 

Subtotal Program Changes 10 $60

FY 2022 President's Budget Request 190 $42,362 

FY 2022 Budget Adjustments 

Adjustments to Request 

Maintaining Current Levels (MCLs)......................................... +$1,258,000 / +0 FTE

Pay Annualization (1.0%) +$75,000 /+0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$677,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$284,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$222,000 / +0 FTE 

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

and equipment. 

Department of the Treasury - Budget in Brief 36 Appropriated Accounts - Bureau Program Detail
Program Decreases................................................................ -$1,709,000 / -0 FTE 

Reduction in Contracts and Absorption of Rent Increase -$1,709,000 /-0 FTE 

Program decrease in contracts and to accommodate increased administrative costs, including 

rent. 

Program Increases............................................................... +$1,769,000 / +10 FTE 

Workforce FTE Adjustment +$1,709,000 / +10 FTE 

This adjustment is required to right-size the workforce for increased audit and investigative 

oversight and to provide necessary support staff. 

Electric Vehicles and Associated Infrastructure +$60,000 / +0 FTE 

For FY 2022, the OIG requests $60,000 to fund the eventual conversion of its fleet to Electronic 

Vehicles (EVs). Of that money, a to-be-determined amount will be allocated to support the 

purchase, installation, maintenance, and/or upgrade of infrastructure required to maintain an EV 

fleet management program. 

Explanation of Budget Activities

Audit $31,182,000 from direct appropriations, $9,000,000 from reimbursable 

The Office of Audit conducts audits to ensure the accountability of resources, protect 

information, and provide recommendations for improving the economy, efficiency, 

effectiveness, and integrity of programs and operations across its jurisdictional boundaries, 

which include those of Treasury and the Gulf Coast Ecosystem Restoration Council (Council). 

The requested funding for FY 2022 is necessary to perform mandated work and maintain an 

appropriate level of oversight of these programs and operations consistent with its 

responsibilities under the Inspector General Act, as amended. The OIG also responds to requests 

by Treasury and Council officials and the Congress for specific work. In FY 2022, the OIG will 

continue to provide oversight of Treasury’s government-wide role and responsibilities under the 

CARES Act, FY 2021 Consolidated Appropriations Act, and American Rescue Plan. 

Reimbursable funding supports agreements for contracted financial statement audits as well as 

oversight of the Small Business Lending Fund and State Small Business Credit Initiative 

program. 

Investigations $11,180,000 from direct appropriations 

The Office of Investigations (OI) prevents, detects, and investigates complaints of fraud, waste, 

and abuse. This includes the detection and prevention or deterrence of employee misconduct and 

fraud, or related financial crimes within or directed against Treasury. OI refers its cases to the 

Department of Justice, State, or local prosecutors for criminal prosecution or civil litigation, or to 

agency officials for corrective administrative action. 

With almost $4 billion in U.S. Treasury related contracts, there is an increased risk of contract 

fraud across all U.S. Treasury bureaus and programs. OI initiated a program of providing 

integrity briefs to contract personnel notifying them of the responsibilities to report fraud, waste, 

and abuse within U.S. Treasury contracts and programs. OI works with the U.S. Department of 

Justice to prosecute False Claims Acts in federal court to recover funds through civil penalties. 

Additionally, OI conducts criminal investigations to prosecute contractors engaging in fraudulent 

activity, such as kickbacks, product substitution, bid manipulation, and many other types of 

Department of the Treasury - Budget in Brief 37 Appropriated Accounts - Bureau Program Detail
contract fraud. OI continues to work allegations directly impacting the American Reinvestment 

and Recovery Act and the Gulf Coast Restoration Trust Fund. 

OI directs investigative efforts toward those that subvert bank examination processes and/or 

perpetrate fraud affecting the Bank Secrecy Act oversight responsibilities of Treasury bureaus, 

subsequently defrauding the nation’s financial infrastructure and eroding the public’s trust. 

In addition to the grant programs listed above, OI has seen a noted increase in fraud impacting 

other significant Treasury programs and operations, including leaks of Treasury information, as 

well as fraud impacting the Treasury payment processing service operated by the Bureau of the 

Fiscal Service. OI remains committed to investigating benefit, improper payment and other 

monetary fraud associated with the programs and operations of the Treasury Department. 

The OIG conducts inquiries and investigations of waste, fraud, and abuse related to Title V of the 

CARES Act, which established the Coronavirus Relief Fund, as well as the Emergency Rental 

Assistance program (ERA/ERA2), the Homeowner Assistance Fund (HAF), American Rescue 

Plan Act of 2021 (ARPA), and the State Small Business Credit Initiative (SSBCI). Since the 

inception of the CARES Act in March 2020, the Office of Investigations has increased its 

caseload by 25 percent for investigations that involve potential misappropriated funds of state, 

local, and tribal governments. 

Legislative Proposals 

The OIG has no legislative proposals. 

Performance Highlights 

FY 2018 FY 2019 FY 2020 FY 2021 FY 2022

Budget Performance Measure Actual Actual Actual Target Target 

Audit Number of Completed Audit Products 91 79 85 74 74 

Audit Percent of Statutory Audits Completed by the 

Required Date 100 100 100 100 100 

Investigations 

Percentage of All Cases Closed During the Fiscal 

Year That Were Referred for Criminal/Civil 

Prosecution or Treasury Administrative Action 

98 80 91 80 80 

Description of Performance 

The Office of Audit completed 85 audit products in FY 2020 and expects to complete 74 in 

FY 2021. In FY 2020, OA met its mandated audit requirements and identified $93.4 million of 

questioned costs. 

In keeping with the OIG’s strategy to maintain a highly skilled and motivated workforce, the 

OIG plans and executes a meaningful body of work designed to help ensure the integrity, 

efficiency, and effectiveness of programs and operations across OIG’s jurisdiction while looking 

for opportunities to improve them. 

In FY 2020 the OIG exceeded the Investigative Performance Measure target, opened 76 new 

investigations, and closed 107 investigations. The OIG also referred 13 investigations that 

Department of the Treasury - Budget in Brief 38 Appropriated Accounts - Bureau Program Detail
substantiated administrative violations against a Treasury employee to the appropriate regulated 

bureau for action. In addition, the OIG referred 119 investigations for criminal prosecution and 

3 investigations for civil prosecution. In FY 2020 the Office of Investigations charged and/or 

indicted 41 subjects. Ongoing investigations resulted in 23 subjects sentenced which resulted in 

fines, seizures, restitution, penalties and settlements of more than $15.6 million.

The OIG received investigative referrals regarding potential criminal misconduct that occurred 

prior to, or during bank failures, and has worked on criminal investigations with the Federal 

Deposit Insurance Corporation Office of Inspector General, the National Credit Union 

Administration Office of Inspector General regarding potential prosecution of acts which may 

have contributed to the bank failures. Additionally, the OIG continues to receive investigative 

referrals from Treasury bureaus, law enforcement agencies, and other sources regarding fraud 

impacting Treasury programs and operations and routinely conducts independent and joint 

investigations into these matters. 

The Office of Investigations continues to support frequent congressional inquiries, sensitive 

investigative requests from the Council of the Inspectors General on Integrity and Efficiency, 

and annual peer reviews of other Offices of Inspector General, thus ensuring a high level of 

professionalism within the Inspector General community. 

Department of the Treasury - Budget in Brief 39 Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 40 Appropriated Accounts - Bureau Program Detail
Special Inspector General for TARP 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating 

Plan 

Operating 

Plan Request $ Change 

% 

Change 

Investigations $18,920 $16,550 $14,485 ($2,065) -12.48% 

Audit $3,080 $2,450 $2,515 $65 2.65% 

Subtotal, Organization Title $22,000 $19,000 $17,000 ($2,000) -10.53% 

Unobligated Balances Brought Forward $1,000 $0 $0 $0 NA 

Total Program Operating Level $1,000 $0 $0 $0 NA 

Direct FTE 80 74 68 (6) -8.11% 

Total Full-time Equivalents (FTE) 80 74 68 (6) -8.11% 

FY 2020 Other Resources and Full-time Equivalents (FTE) reflect actuals. 

FY 2021 Operating Plan amounts and estimated FTE. 

Summary 

The Fiscal Year (FY) 2022 Budget proposes $17 million, a reduction of 10.5 percent from the 

FY 2021 enacted level of $19 million. It also reflects a reduction of 59 percent from the 

FY 2017 enacted level. The proposed budget is intended to fund Congressionally mandated 

independent oversight of Emergency Economic Stabilization Act of 2008 (EESA) programs 

through SIGTARP criminal and civil investigations and independent audits. SIGTARP 

prioritizes investigations and audits of Making Home Affordable’ s (MHA) Home Affordable 

Modification Program (HAMP) (which has 664,644 homeowners participating as of March 17, 

2021) and the Hardest Hit Fund (HHF). In April 2020, SIGTARP recommended that Treasury 

shift HHF to address the pandemic and shift available EESA funding to HHF unemployment 

mortgage assistance programs. Treasury has been implementing this recommendation. In April 

2020, Treasury extended HHF, citing employment hardships caused by the pandemic. 

SIGTARP’s work has led to recoveries for the government and other victims of $11.2 billion – a 

30 times cumulative return on investment (ROI) from SIGTARP’s annual budgets. Every year, 

the Government and other victims recover dollars that exceed SIGTARP’s enacted level. 

Recoveries to date in FY 2021 are $87 million, exceeding SIGTARP’s $19 million enacted level 

by more than four times. FY 2020 recoveries were $157.3 million, exceeding SIGTARP’s $22 

million enacted level by more than seven times. 

SIGTARP Investigations

SIGTARP is a law enforcement office as Congress provided SIGTARP the authority to search, 

seize and arrest. SIGTARP’s law enforcement work has resulted in criminal charges against 456 

defendants. SIGTARP has a 97 percent Department of Justice (DOJ) conviction rate. Courts 

have already sentenced 306 of these defendants to prison including 74 bankers. Other convicted 

defendants await sentencing. SIGTARP’s investigations also resulted in enforcement actions by 

DOJ, the Securities and Exchange Commission (SEC) and others against 25 entities (including 

large Wall Street institutions). 

Department of the Treasury - Budget in Brief 41 Appropriated Accounts - Bureau Program Detail
SIGTARP Investigations Related to HAMP 

SIGTARP continues its long-standing record of holding financial institutions accountable, with 

the top law enforcement priority to bring justice to unlawful conduct by financial institutions in 

HAMP. As with all investigations, SIGTARP’s investigations are backwards looking, 

investigating past conduct, and spending. SIGTARP has a number of open confidential 

investigations. SIGTARP has referred some of these investigations to DOJ. SIGTARP 

continues to work HAMP investigations cases with DOJ, other prosecutors, and regulatory 

enforcement divisions.

In December 2020, SIGTARP’s investigation of Nationstar resulted in an $86.3 million 

enforcement action by 51 state Attorney Generals, 53 state financial regulators, and the 

Consumer Financial Protection Bureau for violating consumer protection laws and harming 

40,000 homeowners, including in HAMP, during the time period of 2012 - 2016. The 

investigation found that Nationstar conducted improper foreclosures, improper escrow practices, 

and improperly increased monthly payments, among other violations. Treasury distributed $1.7 

billion to Nationstar in HAMP mortgage servicer, investor, and borrower incentives ($117.7 

million in FY 2020 - 2021), making it the third largest current HAMP institution. 

Recent HAMP activity and spending adds to SIGTARP’s existing case load. In FY 2020 - 2021, 

Treasury distributed $919.5 million in incentive payments under HAMP for mortgage servicers, 

investors, and borrowers. Treasury sends the distributions to the mortgage servicer, including 

banks (i.e. $91.7 million to Wells Fargo, $51.4 million to JP Morgan Chase, $49.4 million to 

Bank of America, and $17.7 million to Citigroup), and non-banks (i.e. $233.6 million to Ocwen 

Financial, $117.7 million to Nationstar). 

SIGTARP also investigated and supported the prosecution of 121 convicted scammers who 

victimized nearly 31,000 homeowners seeking foreclosure relief through HAMP. For example, 

in August 2020, a Federal court sentenced the two owners of U.S. Homeowners Relief to 12 

years and 5 years in prison for a nationwide $3.5 million fraud scheme targeting more than 250 

homeowners seeking loan modifications, including through HAMP. The company’s marketing 

materials implied they were affiliated with HAMP’s umbrella program the Making Home 

Affordable Program, made specific reference to the government website, and displayed official 

government logos. 

SIGTARP’s Investigations Related to the Hardest Hit Fund 

SIGTARP also investigates corruption, fraud, and environmental/safety crimes such as illegal 

dumping, asbestos exposure, or contaminated dirt in demolitions of blighted properties under 

HHF. Public results from SIGTARP’s corruption investigations in HHF blight include: 

 In FY 2019, the Detroit city official in charge of demolition bids for HHF was sentenced to 

prison after his conviction for bribery conspiracy and fraud related to HHF contracts. 

 In FY 2019, a senior official from one of the largest Detroit HHF blight contractors was 

sentenced to prison after his conviction to commit fraud by taking bribes and kickbacks from 

a subcontractor related to demolition contracts, including in HHF. 

 In FY 2019, DOJ resolved False Claims Act violations against a contractor in Fort Wayne, 

Indiana who the city had awarded all its HHF blight contracts. Instead of filling postDepartment of the Treasury - Budget in Brief 42 Appropriated Accounts - Bureau Program Detail
demolition excavation sites with clean fill dirt as required, the contractor filled the holes with 

construction debris and then falsely billed HHF. 

 In FY 2020, the head of a major Detroit asbestos abatement subcontractor, and the 

subcontractor itself, was barred for 20 years from contracts in Detroit for paying bribes for 

HHF contracts. 

 In FY 2020, SIGTARP agents arrested an Illinois contractor charged with fraud in HHF 

demolitions in Hammond, Indiana. DOJ charged the contractor with failing to dispose of 

demolition debris properly, and allegedly disposing of the demolition debris in unknown 

locations enabling him to avoid the registered facility fee. According to the indictment, the 

contractor allegedly submitted false disposal, dumping, and clean fill dirt documentation. 

 In FY 2020, SIGTARP agents arrested an Indiana contractor who DOJ charged with 

submitting false documents for HHF demolitions stating that he properly disposed of 

demolition debris. The indictment alleges that the contractor improperly disposed of 

demolition debris on-site in Logansport, Indiana. 

 In FY 2021, an asbestos abatement contractor who allegedly was chosen as a subcontractor 

in Detroit demolitions was criminally charged by the Michigan Attorney General for bribery, 

false pretenses, and money laundering, including charges related to public health laws for 

asbestos removal. 

 In FY 2021, a Cleveland, Ohio land bank official was sentenced for lying to federal agents, 

including a SIGTARP agent, who were conducting an investigation about work by a 

demolition contractor awarded HHF contracts on the official’s house, for which work the 

official did not pay. 

 In FY 2021, an investigation into contractors conducting demolitions in Detroit resulted in 

the Detroit Inspector General finding that four contractors used unapproved dirt from I-94 as 

backfill. 

SIGTARP also investigates HHF mortgage assistance recipients for fraud and works with DOJ 

or state and local prosecutors to hold these defendants accountable and recover dollars lost to 

fraud. In FY 2020 - 2021, defendants prosecuted defrauded HHF in California, Indiana, Illinois, 

Ohio, Georgia, Michigan, and South Carolina. 

SIGTARP Investigations Related to EESA Investment Programs 

SIGTARP continues to support criminal prosecutions by DOJ of defendants that SIGTARP 

investigated. SIGTARP’s investigations have resulted in criminal prosecutions of 107 bankers 

and 100 of their co-conspirators. Courts sentenced 74 of the bankers to prison, along with 67 of 

their co-conspirators. Criminal prosecutions take time, and SIGTARP does not control the pace 

of DOJ prosecutions. Despite delays in prosecutions related to the pandemic, in FY 2020-21, 

SIGTARP has seen progress in several high-profile prosecutions in cases that have lasted many 

years, including: 

 7-year 3-month prison sentence for a Mexican national involved in a criminal enterprise to 

launder international narcotics trafficking proceeds including for the Sinaloa drug cartel 

through Saigon Bank while the bank was in TARP, in Operation Phantom Bank that charged 

25 defendants. 

 2-year prison sentence for CEO of failed TARP bank Cecil Bank in Maryland for fraud 

conspiracy and bribery that included lying to the bank’s board and a Federal Reserve 

Department of the Treasury - Budget in Brief 43 Appropriated Accounts - Bureau Program Detail
examiner. Treasury wrote off more than $10 million in TARP when the bank filed 

bankruptcy. 

 Home confinement sentence for supervisory trader at Nomura Securities convicted of 

conspiracy to commit securities fraud in residential mortgage backed securities, including 

through EESA’s PPIP program, that caused more than $15 million in losses. The SEC also 

brought charges against this trader, others, and Nomura (who repaid $25 million to 

customers). 

SIGTARP Audit 

SIGTARP audits promote transparency, effectiveness, and efficiency, identify waste, abuse, and 

mismanagement, and prevent future fraud, waste, and abuse, in HAMP and HHF. For example: 

 SIGTARP audits identified obstacles and roadblocks to homeowners timely receiving 

assistance and made recommendations to speed assistance. 

 SIGTARP identified mismanagement by the Georgia HHF agency who had the lowest 

admission rate of any state agency in HHF, with the agency turning away two-thirds of all 

applicants and made recommendations that resulted in an increase in homeowners receiving 

assistance. 

 SIGTARP audits identified $11 million in waste, abuse, and questioned costs by HHF state 

agencies, including a Mercedes Benz, a motivational speaker who spoke about “Motivation 

by Chocolate,” holiday parties, picnics, celebratory dinners, employee gifts, employee gym 

memberships, flowers, gift cards, conferences at resorts, etc. State agency employees were 

the first recipients of the $2 billion that Congress provided HHF in 2016. One state agency 

paid for an employee lunch, “to celebrate getting new HHF funds and an employee’s 

upcoming wedding.” Another state agency threw catered barbeques, inviting 50, 60, and 90 

people, charging it to HHF. 

 SIGTARP identified abuse of HHF blight demolition program when it was used to demolish 

lived-in houses on the desired relocation site of a car dealership. 

 SIGTARP identified risks in the HHF blight demolition program of illegal dumping, 

contaminated dirt, and exposure to asbestos. 

SIGTARP’s work ensures that programs are operating effectively and efficiently, that EESA 

dollars are used as Congress intended, and that the government does not pay more for EESA than 

is necessary. 

 

Department of the Treasury - Budget in Brief 44 Appropriated Accounts - Bureau Program Detail
Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2021 Operating Plan 80 $19,000 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $544 

Pay Annualization (1.0% average pay raise) 0 $39 

Pay Raise (2.7% average pay raise) 0 $313 

FERS Contribution Increase 0 $120 

Non-Pay 0 $72 

Subtotal Changes to Base 0 $544 

FY 2022 Current Services 80 $19,544 

Program Changes: 

Program Decreases (12) ($2,544) 

Staff Reduction (12) ($2,298) 

Efficiency Savings 0 ($246) 

FY 2022 President's Budget Request 68 $17,000 

Budget Adjustments 

Budget Increases and Decreases Description 

Maintaining Current Levels (MCLs) .......................................................... +$544,000 / +0 FTE 

Pay Annualization (1.0%) +$39,000 / +0 FTE 

Funds are requested for annualization of the January 2020 1.0 percent average pay raise. 

Pay Raise (2.7% in 2022) +$313,000 / +0 FTE 

Funds are requested for a 2.7 percent average pay raise for January 2022. 

FERS Contribution Increase +$120,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$72,000 / +0 FTE 

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

and equipment. 

Program Decreases .................................................................................... -$2,544,000 / -12 FTE 

Staff Reduction -$2,298,000 / -12 FTE 

Reduction in SIGTARP staff levels to 68 FTE. The reduction of FTE is part of responsible 

planning towards SIGTARP’s sunset. 

Efficiency Savings -$246,000/ -0 FTE 

Effect of staff reduction on Non-Personnel costs (training, travel, support services, etc.) 

 

Department of the Treasury - Budget in Brief 45 Appropriated Accounts - Bureau Program Detail
Other adjustment (not reflected in table) 

Realignment from Annual to No-Year -$3,000,000/ -0 FTE 

SIGTARP will fund a portion of its operations from its no-year account. SIGTARP actively 

reduces costs and its footprint, while creating an appropriately sized, skilled, and structured 

workforce. 

SIGTARP decreased its footprint, with ~51percent reduction in square foot entering FY 2022. 

 In FY 2018, SIGTARP eliminated 50 percent of its Washington, D.C. headquarters annual 

rent expenses. 

 In FY 2019, SIGTARP eliminated 100 percent of its San Francisco annual rent expense. 

 In FY 2020, SIGTARP decreased rent under Treasury lease for the New York office ≈ 43 

percent reduction from $90K to $51K per year. 

 At the end of FY 2021, SIGTARP will close its Atlanta office eliminating 100 percent of the 

Atlanta rent expense. 

 SIGTARP reduced fleet-related expenses by 40 percent since FY 2014, with another 10 

percent reduction planned for FY 2022. 

 In FY 2022, over $6 million of the proposed budget (35 percent) will be spent on goods and 

services from the government, more than 90 percent of which will be paid to Treasury. 

 SIGTARP has eliminated management layers and is structuring the workforce in such a way 

to create maximum flexibility. 

 SIGTARP coordinates with other law enforcement agencies and Inspectors General, 

leveraging its unique position and expertise by forming law enforcement and other 

partnerships to create operational efficiencies and realize cost savings. 

Hiring Authority Proposal 

Hiring Authority Similar to Other Special IG’s 

SIGTARP is requesting additional special hiring authority to enable SIGTARP to backfill critical 

vacancies with qualified personnel. This authority is similar to the special authority available to 

the Office of the Special Inspector General for Afghanistan Reconstruction (SIGAR), another 

special inspector general, pursuant to 5 U.S.C. 3161. 

Proposed Language 

‘Sec. _________ 

Section 121 of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5231) is amended 

in subsection (e)(1)(B)(ii) by striking “subparagraph” and all that follows through the period at 

the end and inserting “subparagraph, the Special Inspector General may not make any 

appointment that exceeds 24 months or that extends beyond the date on which the Special 

Inspector General terminates under subsection (k).”.’

 

Department of the Treasury - Budget in Brief 46 Appropriated Accounts - Bureau Program Detail
Performance Highlights FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Investigations 

Percentage of Cases Accepted for 

Consideration by Civil or Criminal 

Authorities Resulting in a Positive Final 

Outcome 

79 77 77 70 70 

Investigations 

Percentage of Cases Presented to Civil or 

Criminal Authorities within Eight 

Months of Being Opened 

85 75 75 65 65 

Investigations Percentage of Cases That are Joint 

Agency/Task Force Investigations 78 76 86 70 70 

Audit 

Number of Completed Audit Products 

Identifying Waist, Abuse, 

Mismanagement, Inefficiencies, or 

Referrals to Investigations Division 

(units) 

6 4 4 3 3 

Description of Performance 

SIGTARP exceeded all metric targets in FY 2020. The “Percentage of Cases Accepted for 

Consideration by Civil or Criminal Authorities Resulting in a Positive Final Outcome” in 

FY 2020 was 77 percent, which exceeded the target of 60 percent. Typically, the positive 

outcome is indictment and criminal conviction of individual defendants, with a high 97 percent 

DOJ conviction rate, and enforcement actions against 25 entities. As an investigative agency, 

SIGTARP must depend on DOJ’s and other prosecutors’ ability to accept its cases for 

prosecution. 

The “Percentage of Cases Presented to Civil or Criminal Authorities within Eight Months of the 

Case Being Opened” was 75 percent, which exceeded the target of 70 percent. The “Percentage 

of Cases that are Joint Agency/Task Force Investigations” with other law enforcement agencies 

was 76 percent, which exceeded the target of 70 percent. Both measures recognize that as 

SIGTARP reduces spending and staffing, it must act with efficiency, shorten its investigative 

timeline, and leverage other law enforcement partnership resources. 

SIGTARP exceeded its FY 2020 audit performance target of three for the “Number of 

Completed Audit Products Identifying Waste, Abuse, Mismanagement, Inefficiencies, or 

Referrals to Investigations Division,” with four products. This included SIGTARP’s 

recommendations to shift HHF to address hardships caused by the pandemic, including 

unemployment. 

Department of the Treasury - Budget in Brief 47 Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 48 Appropriated Accounts - Bureau Program Detail
Treasury Inspector General for Tax Administration 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating Plan Enacted Request $ Change % Change 

Audit $66,260 $64,851 $65,216 $365 0.56% 

Investigations $103,990 $105,399 $110,546 $5,147 4.88% 

Subtotal, TIGTA $170,250 $170,250 $175,762 $5,512 3.24% 

Offsetting Collections - Reimbursable $624 $700 $700 $0 0.00% 

Recovery from Prior Years $220 $0 $0 $0 NA 

Unobligated Balances Brought Forward $5,012 $3,729 $5,000 $1,271 34.08% 

Total Program Operating Level $5,856 $4,429 $5,700 $1,271 28.70% 

Direct FTE 731 760 760 0 0.00% 

Reimbursable FTE 2 2 2 0 0.00% 

Total Full-time Equivalents (FTE) 733 762 762 0 0.00% 

Note: FY 2020 FTE & Other Resources are Actual 

In FY 2021, $8M in additional appropriated resources were provided in the American Rescue Plan Act of 2021 that are not reflected above. 

Summary 

The Treasury Inspector General for Tax Administration’s (TIGTA) Fiscal Year (FY) 2022 budget 

request of $175,762,000 represents an increase of 3.24 percent above its FY 2021 enacted budget. 

These resources will fund critical audit, investigative, and inspection and evaluation services to 

protect the integrity of the Nation’s system of tax administration. 

TIGTA’s vision is to “maintain a highly skilled, proactive, and diverse Inspector General 

organization dedicated to working in a collaborative environment with key stakeholders to foster 

and promote fair tax administration.” TIGTA will provide oversight in a number of critical areas in 

FY 2022 including: 

 Identifying opportunities to improve the administration of the Nation’s tax laws, improve tax 

compliance, and achieve program efficiencies and cost savings; 

 Overseeing the Internal Revenue Service’s (IRS) efforts to implement tax law changes; 

 Continuing to assess the IRS’s efforts to implement tax provisions, distribute Economic Impact 

Payments and other fast and direct relief pursuant to the Coronavirus Aid, Relief, and Economic 

Security Act, Division N of the Consolidated Appropriations Act, 2021, and the American 

Rescue Plan Act of 2021; 

 Assessing the IRS’s efforts to address tax-related identity theft; 

 Mitigating security risks affecting taxpayer data, tax systems, and IRS employees; 

 Protecting the integrity of the IRS by effectively investigating individuals and groups who 

victimize senior citizens, other vulnerable Americans and the international IRS impersonation 

scam that has impacted more than 2.5 million Americans; 

 Conducting advanced analytics and innovative approaches to help prevent and detect the flow 

of dollars fraudulently obtained by criminals; 

Department of the Treasury - Budget in Brief 49 Appropriated Accounts - Bureau Program Detail
 Enhancing taxpayer confidence in electronic Federal tax systems through investigation and 

prosecution of cyber criminals engaged in attacks against, and manipulation of, IRS taxpayer 

service portals as well as the IRS network; 

 Improving the integrity of IRS operations by detecting and deterring waste, fraud, abuse, and 

misconduct, including the unauthorized disclosure of confidential taxpayer information by IRS 

employees; and 

 Conducting comprehensive audits, inspections and evaluations that provide recommendations 

for achieving monetary benefits, addressing erroneous and improper payments, and enhancing 

the service the IRS provides to taxpayers. 

TIGTA conducts audits that advise the public, Congress, the Secretary of the Treasury, and IRS 

management of high-risk issues, problems, and deficiencies related to the administration of IRS 

programs and operations. TIGTA’s administrative and criminal investigations ensure the integrity 

of IRS employees, protect the IRS and its employees, and help the IRS protect and secure taxpayer 

data. TIGTA’s Office of Inspections and Evaluations provides responsive, timely, and costeffective inspections and evaluations of challenging areas in IRS programs. TIGTA’s oversight is 

essential to the efficiency and fairness of the IRS’s tax administration system. TIGTA ensures that 

taxpayers can have confidence that the IRS collects more than $3.5 trillion in tax revenue in an 

effective and efficient manner. 

In accordance with the Government Performance and Results Act Modernization Act (GPRAMA) of 

2010, the Department of the Treasury is currently developing the FY 2022 – 2026 Departmental 

Strategic Plan. The Strategic Plan is scheduled for publication in 2022. The Annual Performance 

Plan will be updated in the FY 2023 President’s Budget to reflect new Departmental strategic goals 

and objectives. TIGTA will publish a component plan that aligns bureau activities and priorities to 

the Department’s by early spring 2022.

Budget Highlights 

Dollars in Thousands 

FTE Amount 

FY 2021 Operating Plan 760 $170,250 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $5,300 

Pay Annualization (1.0% average pay raise) 0 $349 

Pay Raise (2.7% average pay raise) 0 $3,165 

FERS Contribution Increase 0 $1,177 

Non-Pay 0 $609 

Subtotal Changes to Base 0 $5,300 

FY 2022 Current Services 760 $175,550 

Program Changes: 

Program Increases: 0 $212 

Electric Vehicles and Associated Infrastructure 0 $212 

FY 2022 President's Budget Request 760 $175,762 

Department of the Treasury - Budget in Brief 50 Appropriated Accounts - Bureau Program Detail
Budget Adjustments 

Maintaining Current Levels.....................................................+$5,300,000 / +0 FTE 

Pay Annualization (1.0%) +$349,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise.

Pay Raise (2.7% in 2022) +$3,165,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$1,177,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$609,000 / +0 FTE 

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

equipment. 

Program Increases................................................................... +$212,000 / +0 FTE 

Electric Vehicles and Associated Infrastructure +$212,000 / +0 FTE 

For FY 2022, TIGTA requests $212,000 to fund the eventual full conversion of its fleet to EV. 

A portion of this amount will be allocated to support the purchase, installation, maintenance, and/or 

upgrade of infrastructure required to maintain an EV fleet management program. Currently, 

TIGTA has a total of 272 leased vehicles in its fleet, of which one is an EV. TIGTA owns an 

additional six vehicles that are used for communications and surveillance. 

Legislative Proposals 

TIGTA has no legislative proposals. 

Performance Highlights 

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Audit Percentage of Audit Products Delivered When Promised 

to Stakeholders 81 84 79 70 70 

Audit Percentage of Recommendations Made That Have Been 

Implemented 85 83 86 85 DISC 

Audit Percentage of New Audit Reports with Recommendations 

to Improve Tax Administration N/A N/A N/A B 70 

Investigations Percentage of Closed Investigations Resulting in a 

Criminal, Administrative, or Law Enforcement Action 89 91 92 85 85 

Key: DISC - Discontinued; B - Baseline 

Audit is performing more online auditing of the IRS's implementation of tax laws with immediate corrective action versus formal recommendations. 

Description of Performance 

 For FY 2020, the Office of Audit (OA) issued 75 audit reports and other products identifying 

approximately $17.3 billion in potential financial benefits. 

 For FY 2020, the actual Percentage of Audit Products Delivered When Promised to 

Stakeholders was 79 percent. TIGTA exceeded the full-year target by nine percentage points. 

Department of the Treasury - Budget in Brief 51 Appropriated Accounts - Bureau Program Detail
 For FY 2022, OA’s performance targets are 70 percent of Audit Products Delivered When 

Promised to Stakeholders and 70 percent of New Audit Reports with Recommendations to 

Improve Tax Administration. 

 During FY 2020, TIGTA initiated 58 proactive investigative initiatives to detect systemic 

weaknesses or potential IRS program vulnerabilities. TIGTA processed 6,694 complaints, 

opened 2,580 investigations, and closed 2,380 investigations in FY 2020. During this period, 

TIGTA referred 835 cases of employee misconduct to the IRS for action and 132 cases, of 

various types of investigations, were accepted for criminal prosecution. 

 For FY 2020, the Percentage of Closed Investigations Resulting in a Criminal, Administrative, 

or Law Enforcement Action was 92 percent, which exceeded the full-year target of 81 percent 

by 11 percentage points. Each result on average required 297.7 hours of work to accomplish. 

The Office of Investigations (OI) exceeded the FY 2020 performance measure as a result of the 

hard work of experienced executives, managers, and special agents. 

 For FY 2022, OI’s performance target will remain at 85 percent. TIGTA’s OI will continue to 

provide the IRS with the investigative coverage and information necessary to improve the 

integrity of IRS operations and mitigate threats against its employees, facilities, and data 

systems. In addition, OI will maintain the availability of highly trained personnel to address the 

significant vulnerabilities of taxpayer and IRS data and effectively combat the compromising of 

IRS computer systems in the expanding digital environment of Federal tax administration, 

which will contribute to maintaining the public’s confidence in the safe, fair, and effective 

administration of the Nation’s Federal tax system. 

Department of the Treasury - Budget in Brief 52 Appropriated Accounts - Bureau Program Detail
Special Inspector General for Pandemic Recovery 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating 

Plan 

Operating 

Plan Request * $ Change % Change 

Audit $15,000 $0 $12,500 $12,500 100.00% 

Investigations $10,000 $0 $12,500 $12,500 100.00% 

Subtotal, SIGPR $25,000 $0 $25,000 $25,000 100.00% 

Direct FTE 2 66 76 10 15,15% 

Total Full-time Equivalents (FTE) 2 66 76 10 NA 

In FY 2020, $25M in appropriated no-year resources were provided to establish SIGPR under Section 4027 of the Coronavirus Aid, Relief, and 

Economic Security (CARES) Act. 

*Includes funding for administrative, information technology, counsel, and external affairs to support the mission of the Office of Audits and 

the Office of Investigations. 

Summary 

The Special Inspector General for Pandemic Recovery (SIGPR) Fiscal Year (FY) 2022 budget 

request of $25,000,000 will enable SIGPR to conduct critical audit and investigative services to 

protect the integrity of the covered funds under the CARES Act. SIGPR’s FY 2021 Full-time 

Equivalent (FTE) projection is 66. 

SIGPR, an independent office within the Department of the Treasury (Treasury), was established 

by section 4018 of the CARES Act in 2020. It provides oversight of Treasury activities under the 

CARES Act by conducting independent audits and investigations necessary to prevent and detect 

waste, fraud, and abuse in programs and operations. SIGPR conducts audits of these Treasury 

programs, investigates fraud by recipients of CARES Act funds, and makes recommendations 

designed to improve the administration of pandemic recovery programs. SIGPR also conducts 

criminal investigations into allegations of waste, fraud, and abuse while helping to ensure that 

SIGPR protects and secures taxpayer data. 

In accordance with the Government Performance and Results Act Modernization Act (GPRAMA)

of 2010, the Department of the Treasury is currently developing the FY 2022 – 2026 

Departmental Strategic Plan. The Strategic Plan is scheduled for publication in 2022. The 

Annual Performance Plan will be updated in the FY 2023 President’s Budget to reflect new 

Departmental strategic goals and objectives. SIGPR published a Strategic Plan for FY 2021 - 

2023 and will publish a new component plan that aligns bureau activities and priorities to the 

Department’s in 2022.

Appropriations Language 

Of amounts appropriated by section 4027(a) of the CARES Act (15 U.S.C. § 9061) that are 

available for obligation as a result of the deobligation of amounts that were, as of January 9, 

2021, obligated for the credit subsidy cost of loans, loan guarantees, or other investments that the 

Secretary of the Treasury had committed to make under paragraphs (1) through (3) of subsection 

4003(b) of the CARES Act (15 U.S.C. § 9042(b)(1)-(3)), $25,000,000 shall be available to the 

Special Inspector General for Pandemic Recovery to carry out section 4018 of the CARES Act 

Department of the Treasury - Budget in Brief 53 Appropriated Accounts - Bureau Program Detail
(15 U.S.C. § 9053): Provided, That such funds shall be available in addition to any other 

amounts available for that purpose. 

Description of Performance 

SIGPR necessarily spent much of its nascent stage navigating the challenges of standing up and 

operating an office in the midst of a pandemic. SIGPR developed and executed a recruitment 

and hiring strategy, a procurement and acquisition plan, and an information technology capital 

plan; executed an occupancy agreement with the General Services Administration (GSA); 

developed a myriad of policies, procedures and manuals to govern SIGPR’s work in the area of 

audits, investigations and mission support services. Through it all, SIGPR continues to follow 

the facts through audits and investigations to uncover large-scale fraud, waste, and abuse of 

CARES programs. The most recent highlights include: 

 Assisted the U.S. Attorney’s Office for the District of South Dakota in a recently indicted 

case involving multiple fraud counts regarding pandemic relief programs; 

 Uncovered and developed 35 new investigative leads relating to suspected fraud under 

various CARES Act programs; 

 Compiled and developed a data set including more than 50 million rows of data, covering 

more than $150 billion in CARES Act funding; 

 Received and vetted 363 hotline complaints during the second quarter; and 

 Initiated three new projects about the Direct Loan Program, the Main Street Lending 

Program, and the CARES Act funds given to the U.S. Postal Service. 

Department of the Treasury - Budget in Brief 54 Appropriated Accounts - Bureau Program Detail
Community Development Financial Institutions Fund 

Program Summary by Budget Activity 

Dollars in Thousands

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating Plan Operating Plan Request $ Change % Change 

Community Development Financial 

Institutions Fund Program $163,500 $165,000 $215,383 $50,383 30.54% 

Economic Mobility Corps $2,000 $2,000 $2,000 $0 0.00% 

Bank Enterprise Award Program $25,000 $26,000 $26,000 $0 0.00% 

Native American CDFI Assistance Program $16,000 $16,500 $21,500 $5,000 30.30% 

Administrative $28,500 $29,000 $33,617 $4,617 15.92% 

Healthy Food Financing Initiative $22,000 $23,000 $23,000 $0 0.00% 

Small Dollar Loan Program $5,000 $8,500 $8,500 $0 0.00% 

Subtotal, Organization Title $262,000 $270,000 $330,000 $60,000 22.22% 

Offsetting Collections - Reimbursable $1,043 $1,164 $1,200 $36 3.09% 

Recovery from Prior Years $600 $500 $500 $0 0.00% 

Unobligated Balances Brought Forward $193,017 $13,569 $31,169 $17,600 129.71% 

Total Program Operating Level $456,660 $285,233 $362,869 $77,636 27.22% 

Direct FTE 70 82 89 7 8.54% 

Total Full-time Equivalents (FTE) 70 82 89 7 8.54% 

Summary 

The FY 2022 Budget requests an appropriation of $330,000,000 for the Community 

Development Financial Institutions Fund (CDFI Fund) to administer the CDFI Fund’s programs 

and oversee the existing portfolio of awards. 

The CDFI Fund expands the availability of credit, investment capital, and financial services in 

distressed urban and rural communities and for underserved populations. The CDFI Fund carries 

out the Community Development Banking and Financial Institutions Act of 1994, as well as 

certain programmatic provisions of the Community Renewal Tax Relief Act of 2000, the 

Housing and Economic Recovery Act of 2008 (HERA), the Small Business Jobs Act of 2010, 

and the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (P. L. 116-

260) that provided $3 billion for emergency support for CDFIs and communities responding to 

the COVID-19 pandemic. In the spring of FY 2021, $1.25 billion of these funds will be awarded 

through its newly established CDFI Rapid Response Program (CDFI RRP), which is designed to 

quickly deploy capital to CDFIs through a streamlined application and review process. 

Beginning in FY 2022, the CDFI Fund will award the remaining $1.75 billion to support lending 

in minority communities and minority lending institutions CDFIs to expand their lending, grant 

making and investments activity in low- or moderate-income minority communities and 

minorities that have significant unmet capital or financial service needs. 

The CDFI Fund supports the creation and expansion of diverse Community Development 

Financial Institutions (CDFIs), which provide loans, investments, business counseling, basic 

banking services, and financial literacy training to underserved communities. Working primarily 

through CDFIs, the CDFI Fund facilitates business development, commercial real estate, housing 

Department of the Treasury - Budget in Brief 55 Appropriated Accounts - Bureau Program Detail
development and home ownership. The CDFI Fund’s activities leverage billions of private sector 

investment dollars from banks, foundations, and other funding sources on a cumulative basis. 

The FY 2022 Budget proposes funding for the CDFI Program and the Native American CDFI 

Assistance (NACA) Program, the Bank Enterprise Award Program, the Small Dollar Loan 

Program, and the Healthy Food Financing Initiative (HFFI). Increased investment in the CDFI 

Program supports the need for greater capital flow to communities and geographies where access 

to capital is least efficient and most needed, including rural areas and persistent poverty counties, 

and to CDFIs seeking to build both capital and capacity to deploy resources. Treasury’s request 

also includes funding for the administration, operational support, and management associated 

with these programs, the New Markets Tax Credit (NMTC) Program, and the CDFI Bond 

Guarantee Program. 

Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2021 Enacted 82 $270,000 

Program Changes: 

Program Increases: 7 $60,000 

CDFI Program 0 $50,383 

Native American CDFI Assistance (NACA) Program 0 $5,000 

Administration 7 $4,617 

FY 2022 President's Budget Request 89 $330,000 

Budget Adjustments 

Program Increases .....................................................................................+$60,000,000/ +7 FTE 

CDFI Program +$50,383,000 / +0 FTE 

This increase will result in larger Financial Assistance (FA) awards and will support Small 

and/or Emerging Community Development Financial Institutions Assistance applicants, 

providing more funding for capacity building grants through the technical assistance component. 

NACA Program +$5,000,000 / +0 FTE 

This increase will result in larger FA awards, as well as be used to increase participation by 

Native communities by improving technical assistance and capacity building for Native CDFIs. 

Administration +$4,617,000 / +7 FTE 

This increase will allow the CDFI Fund to focus on hiring, data collection and infrastructure 

needs that have been deferred in past years due to budget constraints. 

Legislative Proposals 

The Budget proposes to expand the Capital Magnet Fund by $12 billion as part of the American 

Jobs Plan. 

Department of the Treasury - Budget in Brief 56 Appropriated Accounts - Bureau Program Detail
Performance Highlights 

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Community Development 

Financial Institutions 

Program 

CDFI - Percentage of Loans & 

Investments Originated in Eligible 

Distressed or Underserved 

Communities by Dollar Amount of 

Loans (Annual %) 

73.7 75.6 75.0 60.0 60.0 

Administration All Award Cycle Time (Months) 5.8 6.4 5.5 6.5 6.5 

Administration 

ALL- Number of Affordable 

Housing Units Developed or 

Produced 

34,083 61,839 44,361 I I 

New Markets Tax Credit 

Program 

NMTC - Percentage of Loans and 

Investments That Went Into Severely 

Distressed Communities 

73.6 80.3 77.2 75.0 75.0 

Key: I - Indicator 

Description of Performance 

For the FY 2020 CDFI Program round, the CDFI Fund awarded $127 million in financial 

assistance to 230 organizations. The CDFI Fund also awarded $18.5 million in PPC-FA to 106 

CDFIs specifically to serve Persistent Poverty Counties nationwide. In addition, the CDFI Fund 

awarded $22 million in HFFI-Financial Assistance to 13 CDFIs, as well as $4 million in 

Disability Funds-Financial Assistance awards to 17 CDFIs to help finance projects and services 

to assist individuals with disabilities. A total of 127 organization were also awarded more than 

$15.8 million in Technical Assistance (TA) awards 

In the FY 2020 round of the NACA Program, the CDFI Fund awarded $15.2 million in FY 2020 

NACA Program Base-FA and TA awards to 40 organizations in 18 states. In addition, the CDFI 

Fund awarded $1.6 million in NACA Program PPC-FA awards to 11 Native CDFIs. 

In the FY 2020, the CDFI Fund awarded $3.5 billion in calendar year 2019 NMTC Program 

allocation authority to 76 organizations out of a pool of 206 applicants that requested $14.7 

billion in NMTC allocations. 

Highlights of Select Performance Measures 

In the FY 2020, the CDFI Program surpassed the 60.0 percent threshold for the percentage of 

both the dollar amount (75.0 percent) and the number of CDFI loans (79.6 percent) made to 

eligible distressed communities and underserved populations. 

In FY 2020, the NMTC Program recipients reported that over 77 percent of NMTC investments 

made in FY 2019 were in highly distressed areas. These are communities with low median 

incomes and high rates of poverty and unemployment. 

The All Award Cycle Time metric is an efficiency measure of the average time from the date 

when applications are received to the date of award announcement (calculated in months as an 

average across all programs). The Award Cycle Time in FY 2020 was 5.5 months, surpassing the 

target of 6.5 months. This achievement reflects improved efficiency in making awards, which is 

Department of the Treasury - Budget in Brief 57 Appropriated Accounts - Bureau Program Detail
largely a function of the implementation of the Awards Management Information System 

(AMIS). For FY 2022 the target will remain at 6.5 months because the CDFI Fund will be 

standing up additional programs, including the Minority Lending Program (MLP) and the Small 

Dollar Loan (SDL) Program. 

The Number of Affordable Housing Units Developed or Produced metric measures the number 

of affordable housing units developed or produced as a result of CDFI Fund awards, as reported 

by CDFI Program, NMTC Program, and CMF award and allocation recipients. In FY 2020, 

recipients reported 44,361 affordable housing units developed or produced as a result of CDFI 

Fund program awards, thereby exceeding the FY 2020 target for affordable housing units. The 

target attempts to project outcomes for program investments from prior-year award recipients’ 

reported eligible affordable housing projects. This measure is being converted to an indicator 

because of the variability in projecting annually the number of affordable housing units funded 

for three programs makes it difficult to project a reliable target. 

Department of the Treasury - Budget in Brief 58 Appropriated Accounts - Bureau Program Detail
Financial Crimes Enforcement Network 

Program Summary by Budget Activity

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating Plan Operating 

Plan2 Request $ Change % Change 

BSA Administration and Analysis $126,000 $126,963 $190,539 $63,576 50.07% 

Subtotal, Organization Title $126,000 $126,963 $190,539 $63,576 50.00% 

Offsetting Collections - Reimbursable $1,613 $6,000 $6,000 $0 0.00% 

Recovery from Prior Years $143 $0 $0 $0 NA 

Unobligated Balances Brought Forward $26,416 $29,000 $29,000 $0 0.00% 

Total Program Operating Level $154,172 $161,963 $225,539 $63,576 39.3% 

Direct FTE 264 300 380 80 26.67% 

Reimbursable FTE 1 3 3 0 0.00% 

Total Full-time Equivalents (FTE) 265 303 383 80 26.40% 

Summary 

The Federal Crimes Enforcement Network (FinCEN) is the primary Federal regulator for the 

Bank Secrecy Act (BSA) and is responsible for the regulations and implementation of the nonpublic database of ownership and/or effective control of firms (i.e. beneficial ownership) 

pursuant to the Corporate Transparency Act (CTA). The mission of FinCEN is to safeguard the 

financial system from illicit use, combat money laundering, and promote national security 

through the strategic use of financial authorities and the collection, analysis, and dissemination 

of financial intelligence. 

The FY 2022 President’s Budget requests additional resources totaling $63,576,000, providing 

$60,279,000 for the implementation of the Anti-Money Laundering Act/Corporate Transparency 

Act (AMLA/CTA) of the William M. (Mac) Thornberry National Defense Authorization Act for 

Fiscal Year (FY) 2021 and $87,000 for the leasing of electric vehicles and purchase of associated 

infrastructure. 

Department of the Treasury - Budget in Brief 59 Appropriated Accounts - Bureau Program Detail
Budget Highlights 

Dollars in Thousands 

FTE Amount 

FY 2021 Operating Plan 300 $126,963 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $3,210 

Pay Annualization (1.0% average pay raise) 0 $137 

Pay Raise (1.0% average pay raise) 0 $1,109 

FERS Contribution Increase 0 $517 

Non-Pay 0 $1,447 

Subtotal Changes to Base 0 $3,210 

FY 2022 Current Services 300 $130,173 

Program Changes: 

Program Increases: 80 $60,366 

FinCEN AMLA/CTA Implementation* 80 $60,279 

Purchase of Electric Vehicles and Associated Infrastructure 0 $87 

FY 2022 President's Budget Request 380 $190,539 

*Amounts shown reflect enacted appropriations for 2021, which do not include dedicated funding for

development of the beneficial ownership data system and CTA implementation. However, FY 2022 

staffing does assume funding, yet to be identified, is provided for this purpose in 2021. FinCEN estimates 

a total of 131 new positions will be needed for full implementation of the CTA and Anti-Money 

Laundering Act (P.L. 116-283). 

Budget Adjustments 

Adjustments to Request 

Maintaining Current Levels (MCLs) ..........................................................+3,210,000 / +0 FTE 

Pay Annualization (1.0%) +137,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$1,109,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$517,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$1,447,000 / +0 FTE 

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

and equipment. 

Program Increases ..............................................................................+$60,366,000 / +80 FTE 

FinCEN AMLA/CTA Implementation +$60,279,000 / +80 FTE 

The enactment of the FY 2021 National Defense Authorization Act (NDAA) included significant 

reforms to the U.S. anti-money laundering and countering the financing of terrorism (AML/CFT) 

regime through the AMLA and the CTA. 

Department of the Treasury - Budget in Brief 60 Appropriated Accounts - Bureau Program Detail
The AMLA seeks to strengthen, modernize, and streamline the existing AML/CFT regime by 

promoting innovation, regulatory reform, and industry engagement through forums, such as the 

Bank Secrecy Act Advisory Group (BSAAG) and FinCEN Exchange. The AMLA calls for 

FinCEN to work closely with our regulatory, national security, and law enforcement partners to 

identify risks and priorities and provide valuable feedback to our industry partners. 

Within the AMLA, the CTA establishes uniform beneficial ownership reporting requirements for 

corporations, limited liability companies, and other similar entities formed or registered to do 

business in the United States. The CTA provides FinCEN with the authority to collect that 

information and share it with authorized government authorities and financial institutions, 

subject to effective safeguards and controls. To that end, FinCEN will use this funding to 

develop and maintain a data system for the reporting of information on beneficial ownership, 

collecting and securing the data, and creating access protocols. 

The AMLA and the CTA together set forth approximately 40 rulemaking or other requirements, 

including periodic Congressional reporting on implementation efforts, assessments, and 

findings. Some key requirements include: 

1. Establishing standards for the reporting of information on beneficial ownership, building an 

information technology system to collect and secure the data, and creating access protocols; 

2. Establishing national anti-money laundering and countering the financing of terrorism 

priorities; 

3. Enhancing the whistleblower provisions to provide for a robust whistleblower program and 

new anti-retaliation protections; 

4. Reviewing, and revising as appropriate, Currency Transaction Report (CTR) and Suspicious 

Activity Report (SAR) reporting requirements, and other existing Bank Secrecy Act (BSA) 

regulations and guidance; 

5. Expanding BSA requirements and obligations to persons engaged in the trade of antiquities, 

and mandating a study on the potential expansion of BSA requirements to persons engaged in 

the art trade; 

6. Codifying the FinCEN Exchange program; 

7. Hosting a Financial Crimes Tech Symposium, and establishing two new BSAAG 

subcommittees to enhance public-private partnerships in the areas of innovation and 

technology as well as information security; 

8. Establishing a BSA Analytical Hub; 

9. Law enforcement reporting to FinCEN on the use of BSA data, procedures for additional 

feedback between FinCEN and financial institutions on the usefulness of SARs, and semiannual publication of review of SAR activity and other BSA reports, including threat 

patterns, trends, and typologies; and 

10. Codifying a pilot program to allow financial institutions to share SARs with their foreign 

branches, subsidiaries, and affiliates. 

Timely and effective AMLA and CTA implementation will be challenging and is FinCEN’s top 

priority, and we are working diligently with our domestic and international industry partners and 

law enforcement and regulatory stakeholders to implement these numerous provisions to further 

the national security and innovative strength of the United States and protect the American 

people. 

Department of the Treasury - Budget in Brief 61 Appropriated Accounts - Bureau Program Detail
The January 1, 2021, enactment of the AMLA and CTA did not come with accompanying 

funding, and FinCEN has been diverting existing resources to meet the rigorous deadlines set 

forth in the legislation. Therefore, in order to meet this new, expansive statutory mandate, 

FinCEN requests this significant program increase to fund the FTE positions and information 

technology systems needed to effectively implement the AMLA and CTA. 

Purchase of Electric Vehicles and Associated Infrastructure +$87,000 / +0 FTE 

Following the lead from Executive Order (E.O.) 14008, “Tackling the Climate Crises at Home 

and Aboard”, the U.S. Department of the Treasury joins in the Administration’s priority to 

develop a comprehensive plan to create good jobs and stimulate clean energy industries by 

revitalizing the Federal Government’s sustainability efforts. This includes Treasury’s 

commitment to use all available procurement authorities to augment its Department-wide fleet 

management program with a continued focus on the leasing of electric vehicles (EV) and 

purchasing, installing, and maintaining essential infrastructure. The planned resources will help 

Treasury comply with the requirements set forth by E.O. 14008 and reduce the carbon footprint 

of emissions into the atmosphere by acquiring an updated fleet of zero-emissions vehicles that 

can support mission operations. 

For FY 2022, the Financial Crimes Enforcement Network (FinCEN) will receive $87,000 to fund 

the full conversion of its fleet to EV. Of that money, approximately $25,000 will be allocated to 

the purchase, installation, maintenance, and/or upgrade of infrastructure required to maintain an 

EV fleet management program. Additionally, FinCEN will purchase one additional charging 

station to support its future EV state. Currently, FINCEN has a total of four vehicles in its fleet, 

of which two are EVs. 

Legislative Proposals 

FinCEN has no legislative proposals. 

Performance Highlights 

Description of Performance 

FinCEN conducts four annual surveys of the BSA user-facing systems, information sharing tools 

and to assess the value of FinCEN’s data and analysis. The results provide valuable feedback on 

FY 2018 FY 2019 FY 2020 FY 2021 FY 2022

BSA Administration and Analysis

Percentage of Domestic 

Law Enforcement and 

Regulators Who Assert 

Queried BSA Data Led to 

Detection and Deterrence 

of Illicit Activity

85% 92% 90% 89% 90%

BSA Administration and Analysis

Percentage of Users 

Satisfied with FinCEN 

Information Sharing 

Systems

86% 89% 88% 85% 85%

Budget Activity Performance Measure Actual Actual Actual Target Target

Department of the Treasury - Budget in Brief 62 Appropriated Accounts - Bureau Program Detail
FinCEN’s performance safeguarding the financial system from illicit use, combatting money 

laundering, and promoting national security. 

Additionally, FinCEN monitors the percentage of domestic law enforcement and regulators who 

assert that queried BSA data led to the detection and deterrence of illicit activity. The survey 

looks at the value of FinCEN data, such as whether the data provided unknown information; 

supplemented or expanded known information; verified information; helped identify new leads; 

opened a new investigation or examination; supported an existing investigation or examination; 

or, provided information for an investigative or examination report. In FY 2020, FinCEN 

surpassed its target of 88 percent with 90 percent asserting the queried BSA data led to the 

detection and deterrence of illicit activity. FinCEN achieved this performance by expanding its 

FinCEN Portal and Query training efforts and supplementing that training by posting useful, 

mission-oriented material on FinCEN Portal. In FY 2021, FinCEN will continue to expand its 

training efforts and content to provide the FinCEN Portal and FinCEN Query user community 

with the information they need to successfully enhance their investigative efforts. In FY 2021, 

the target is set at 89 percent and in FY 2022 at 90 percent. 

This measure is based on survey responses and represents user satisfaction with the BSA EFiling System, FinCEN Query, and the Egmont Secure Web (ESW). Starting with industry, 

FinCEN collects and maintains BSA reports filed by financial institutions and other filers. In 

turn, FinCEN provides authorized users (including Treasury components) access to a query 

system containing 15 years of BSA data. FinCEN also provides foreign Financial Intelligence 

Units in the Egmont Group with a secure system for exchanging financial intelligence to combat 

money laundering and terrorist financing. This measure is meaningful because the technology 

allows authorized persons to more readily access BSA information and better enable them to 

conduct investigations more efficiently and effectively. In FY 2020, FinCEN exceeded its target 

of 84 percent with 88 percent of the users satisfied with information sharing systems. FinCEN 

attributes the increase to specific customer service support provided to the Egmont Group with 

tasks, such as improving the content management organization and how users access much of the 

content within the ESW. FinCEN recently completed a technology refresh of ESW and is 

targeting completion of a technology refresh of the FinCEN Portal and Query applications in FY 

2021. These efforts will make significant updates to the underlying technologies and bring about 

some enhanced capabilities to the user community for the Portal/Query applications. Since we 

anticipate some learning curve associated with these updates, the targets are set at 85 percent for 

FY 2021 and FY 2022. 

Department of the Treasury - Budget in Brief 63 Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 64 Appropriated Accounts - Bureau Program Detail
Alcohol and Tobacco Tax and Trade Bureau 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating 

Plan 1

Operating 

Plan Request $ Change % Change 

Collect the Revenue $57,513 $57,526 $60,761 $3,235 5.62% 

Protect the Public $62,087 $66,811 $70,569 $3,758 5.62% 

Subtotal, TTB $119,600 $124,337 $131,330 $6,993 5.62% 

Reimbursable and Offsetting Collections2 $6,744 $7,977 $7,977 $0 0.00% 

Unobligated Balances Brought Forward3 $4,577 $4,696 $4,680 ($16) -0.34% 

Transfers In/Out4 $349 $350 $0 ($350) -100.00% 

Total Program Operating Level $131,270 $137,360 $143,987 $6,627 4.82% 

Direct FTE 484 508 508 0 0.00% 

Reimbursable FTE 11 12 12 0 0.00% 

Total Full-time Equivalents (FTE) 495 520 520 0 0.00% 

1/ FY 2020 Resources by Budget Activity reflect levels appropriated in P.L. 116-93, the Consolidated Appropriations Act of 2020. 

FY 2020 Full-time Equivalents (FTE) and FY 2020 Other Resources reflect actuals. 

2/ Includes reimbursements from the Treasury Executive Office of Asset Forfeiture (TEOAF) Mandatory Fund, CDFI Fund, and Treasury 

Departmental Offices, and offsetting collections from Puerto Rico Cover-Over Program. 

3/ All years include carryover of prior two-year set aside funding for trade practice enforcement and education as well as recoveries of 50 

percent in unobligated balances from prior one-year funding. 

4/ Actual obligations (FY 2020) and approved allocation (FY 2021) from TEOAF Secretary's Enforcement Fund transfer. 

Summary 

The Alcohol and Tobacco Tax and Trade Bureau (TTB) serves as the nation’s primary Federal 

authority in the taxation and regulation of the alcohol and tobacco industries. TTB is responsible 

for the administration and enforcement of the Internal Revenue Code (IRC) provisions for excise 

taxes on alcohol, tobacco, firearms, and ammunition, and the Federal Alcohol Administration 

(FAA) Act, which provides for the regulation of the alcohol beverage industry to protect U.S. 

consumers and ensures a fair and competitive marketplace for U.S. businesses. 

Many U.S. businesses experienced significant financial hardships due to the pandemic, including 

many of the small breweries, wineries, and distilleries that comprise the majority of TTB 

taxpayers. In FY 2022, in support of the Administration’s pandemic recovery and economic 

growth priorities, TTB plans to focus on timely service levels and facilitating voluntary 

compliance by simplifying tax and regulatory requirements, issuing clear and timely industry 

guidance, and modernizing its online filing systems. 

At the FY 2022 funding level, TTB will make critical investments in online filing systems as part 

of its multi-year IT modernization strategy to develop an integrated online experience for all tax 

and regulatory transactions with TTB. By improving the ease and usability of its online 

platforms, TTB aims to increase electronic submissions, improve timely filings, and support 

taxpayer compliance. Reducing paper submissions also supports “green” filing practices in line 

with the Administration’s climate change agenda. 

Department of the Treasury - Budget in Brief 65 Appropriated Accounts - Bureau Program Detail
Additionally, TTB is working with Treasury on options to implement statutory changes that 

transfer responsibility for administering the Craft Beverage Modernization Act certain provisions 

related to imported alcohol from U.S. Customs and Border Protection to Treasury after 

December 31, 2022. The law requires that importers submit refund claims to Treasury to receive 

the reduced CBMA tax rates and credits as opposed to taking them at the time of entry. TTB and 

Treasury are still assessing the overall impact, including the resources, personnel, and 

information technology systems needed to implement and administer the import claims program. 

A report detailing Treasury’s plans to implement and administer the refund program starting in 

2023 will be submitted to Congress and made publicly available in June 2021 as required by P.L. 

116-260.

Budget Highlights 

Dollars in Thousands 

Alcohol and Tobacco Tax and Trade Bureau FTE Amount 

FY 2021 Operating Plan 508 $124,337 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $3,885 

Pay Annualization (1.0% average pay raise) 0 $196 

Pay Raise (2.7% average pay raise) 0 $1,774 

FERS Contribution Increase 0 $995 

Non-Pay 0 $920 

Subtotal Changes to Base 0 $3,885 

FY 2022 Current Services 508 $128,222 

Program Changes: 

Program Increases: 0 $3,108 

 MyTTB IT System Modernization 0 $2,500 

 Electric Vehicles and Associated Infrastructure 0 $608 

FY 2022 President’s Budget Request 508 $131,330 

Budget Adjustments 

Adjustments to Request 

Maintaining Current Level (MCLs)........................................... +$3,885,000 / +0 FTE 

Pay Annualization (1.0%) +$196,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$1,774,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$995,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$920,000 / +0 FTE 

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

equipment. 

Department of the Treasury - Budget in Brief 66 Appropriated Accounts - Bureau Program Detail
Program Increases................................................................. +$3,108,000 / +0 FTE

MyTTB IT System Modernization +$2,500,000 / +0 FTE 

TTB will continue to invest in IT system modernization to incrementally transform the industry 

member service experience across all permitting, tax, and alcohol labeling interactions. The 

desired end state, known as MyTTB, will provide a personalized “one-stop shop” to help 

industry members efficiently conduct all business transactions online. MyTTB will also facilitate 

improved data integration and data quality across TTB programs and systems, enabling TTB to 

better detect noncompliance and fraud, validate application data, automate workflows, and 

increase data-driven decision making. 

Electric Vehicles and Associated Infrastructure +$608,000 / +0 FTE 

Following the lead from Executive Order (E.O.) 14008, “Tackling the Climate Crises at Home 

and Abroad,” the U.S. Department of the Treasury joins in the Administration’s priority to 

develop a comprehensive plan to create good jobs and stimulate clean energy industries by 

revitalizing the Federal Government’s sustainability efforts. This includes Treasury’s 

commitment to use all available procurement authorities to augment its Department-wide fleet 

management program with a continued focus on the leasing of electric vehicles (EV) and 

purchasing, installing, and maintaining its essential infrastructure. The requested resources will 

help Treasury comply with the requirements of E.O. 14008 and reduce the carbon footprint of 

emissions into the atmosphere by acquiring an updated fleet of zero-emissions vehicles that can 

support mission operations. 

For FY 2022, TTB requests $608,000 to fund the conversion of its fleet to EV. Of that money, 

approximately $50,000 will be allocated to the purchase, installation, maintenance, and/or 

upgrade of infrastructure required to maintain an EV fleet management program, including 

charging stations to support its future EV fleet. Currently, TTB has a total of 21 vehicles in its 

fleet, none of which are EVs. 

Legislative Proposals 

TTB has no legislative proposals. 

Department of the Treasury - Budget in Brief 67 Appropriated Accounts - Bureau Program Detail
Performance Highlights FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Collect the Revenue Amount of Revenue Collected Per 

Program Dollar 369 339 380 I I 

Collect the Revenue Voluntary Compliance from Large 

Taxpayers - Overall (%) 1 90 91 91 95 95 

Collect the Revenue By Payment 99 99 99 - - 

Collect the Revenue By Tax Return 82 84 84 - - 

Collect the Revenue By Operational Report 82 83 83 - - 

Collect the Revenue Electronically Filed Tax Returns - 

Pay.gov (%) 37 41 43 55 65 

Collect the Revenue Electronically Filed Operational 

Reports - Pay.gov (%) 42 46 50 55 65 

Protect the Public Permit Applications Processed within 

Service Standards (75 days) (%) 71 58 84 85 85 

Protect the Public 

Alcohol Beverage Label and Formula 

Applications Processed within Service 

Standards (15 days) (%) 2

84 48 83 85 85 

Protect the Public Initial Error Rate for Permit 

Applications 80 71 62 25 25 

Protect the Public Initial Error Rate for Label and 

Formula Applications 40 37 34 25 25 

Protect the Public Electronically Filed Permit 

Applications (%) 87 89 92 95 98 

Protect the Public Electronically Filed Label and Formula 

Applications (%) 98 99 99 I I 

Protect the Public Customer Satisfaction Rate with eGov 

Systems - COLAs Online 81 77 80 80 80 

Protect the Public Customer Satisfaction Rate with eGov 

Systems - Permits Online 3 77 68 78 80 80 

Protect the Public Customer Satisfaction Rate with eGov 

Systems - Formulas Online 3 79 70 73 80 80 

Key: I – Indicator 

1/ TTB revised its measure of taxpayer compliance for FY 2020, enabling more accurate and timely analysis of compliance trends by taxpayers; 

the new method also supports separate reporting of compliance rates by payments, tax returns, and operational reports. 

2/ Service standards are set annually based on TTB analysis of submission volume, error rates, and resource levels. In FY 2016, the service 

standards were 30 days for labels and 45 days for formulas. In FY 2017, TTB set the service standards at 10 days for both labels and formulas, 

after receiving dedicated funding to support accelerated processing times. In FY 2018, following a spike in submission volume, TTB established 

new service standards of 15 days for both labels and formulas; these standards remain in effect through 2020. 

3/ Results represent beverage alcohol filers only (nonbeverage alcohol formula submissions are excluded). 

Description of Performance 

In FY 2020, TTB met or exceeded the performance targets for 5 of its 14 performance measures. 

TTB also monitored performance through several key indicators that support data-driven 

decision making across TTB’s strategic goals. Across its performance measures, TTB made 

substantial improvements in FY 2020 in key service and operational measures, with most 

trending in a positive direction by year-end, demonstrating TTB’s effective balancing of 

competing priorities during COVID-19 to address critical emerging risks while still providing 

improved service levels to industry. To meet its performance goals in FY 2022, TTB will 

implement an aggressive strategic agenda that integrates policy updates, process improvements, 

and modern technology, as well as data-driven outreach and enforcement. 

Department of the Treasury - Budget in Brief 68 Appropriated Accounts - Bureau Program Detail
TTB’s Collect the Revenue budget activity includes all tax processing, verification, enforcement, 

and outreach efforts related to administering the Federal excise tax on alcohol, tobacco, firearms, 

and ammunition products. In ensuring a level playing field for those engaged in the trade of these 

regulated commodities, TTB also takes appropriate enforcement action to detect and address 

diversion activity and ensure all products sold in the marketplace are properly taxpaid. In 

FY 2020, TTB collected excise taxes totaling $20 billion, comprised of $11.2 billion for tobacco 

products, $8.1 billion for alcohol beverage products, and $665 million for firearms and 

ammunition. 

The investments in the Collect the Revenue activity resulted in the following performance 

highlights and accomplishments during FY 2020: 

 TTB collected $20 billion in excise taxes and other revenues from a tax base of nearly 35,000 

taxpayers in the alcohol, tobacco, firearms, and ammunitions industries. In FY 2020, TTB 

returned $380 for every dollar invested in its tax collection activities. 

 TTB’s measures of electronically filed tax returns and operational reports indicate that 

although e-filing rates trended positively in FY 2020, less than half of TTB tax submissions 

are submitted to TTB via Pay.gov, the current online system for electronic submissions. High 

rates of paper filings make compliance monitoring and fraud detection more difficult and 

costly, and have a higher environmental impact. The IT system modernization investment 

requested for FY 2022 will support system improvements that will drive increased electronic 

tax filing rates, which should result in more accurate, timely, and complete submissions as 

well as improved access to data for tax verification. 

 TTB revised its measure of voluntary compliance from large taxpayers in FY 2020 based on 

a new scoring method to better reflect risk by filing type and revenue exposure. TTB 

established a high standard for its largest taxpayers, with a targeted filing compliance rate of 

95 percent. In FY 2020, TTB achieved an overall compliance rate of 91 percent from its large 

taxpayers in meeting all tax filing requirements. Payment compliance rates remained high, at 

over 99 percent, indicating that the majority of reported liabilities are paid on time. 

Compliance rates for tax returns and operational reports were 84 percent and 83 percent, 

respectively. Although below target, these rates held constant with FY 2019, even with 

disruptions to TTB and industry operations caused by COVID-19. Although TTB analysis 

indicates that this trend does not represent a significant revenue risk, as late filings represent 

the majority of the compliance violations, non-compliance undermines the level playing 

field, which is particularly critical for the small producers who comprise the majority of TTB 

taxpayers. The FY 2022 request supports the IT system and analytics enhancements that 

would enable TTB to more efficiently detect and address these issues. 

TTB’s Protect the Public budget activity funds the programs that ensure the integrity of the 

products and industry members in the marketplace; promote compliance with Federal laws and 

regulations by the more than 106,000 businesses that TTB regulates; facilitate fair and lawful 

domestic and international trade in the alcohol and tobacco commodities; and provide full and 

accurate alcohol beverage product information to the public as a means to prevent consumer 

deception. 

 

Department of the Treasury - Budget in Brief 69 Appropriated Accounts - Bureau Program Detail
The investments in the Protect the Public activity resulted in the following performance 

highlights and accomplishments during FY 2020: 

 TTB received approximately 183,000 label applications and 24,000 formula applications for 

new alcohol and beverage product approvals. Federal law prohibits the import or domestic 

bottling of an alcohol beverage without an approved label, making this service integral to 

U.S. businesses and economic recovery priorities. Despite increased submission volume, 

TTB achieved the targeted performance level for formula approvals, and ended the year with 

87 percent of formula applications meeting the 15‐day standard, exceeding the target of 85 

percent. This was achieved through effective monitoring and management of the application 

backlog combined with strategic workforce management to efficiently deploy staff. By 

employing similar strategies, TTB nearly achieved the 85 percent target for label approvals in 

FY 2020, ending the year at 83 percent. Performance significantly improved for both 

application types in the latter half of the fiscal year as TTB cleared backlogs, with the vast 

majority of applications processed in 10 days or less. 

 TTB received approximately 7,800 applications for a Federal permit or registration, and 

qualified approximately 6,500 new businesses, predominantly small businesses. A TTB 

permit or registration is required before a business can lawfully operate in the alcohol and 

tobacco industries, and TTB ensures a fair and lawful marketplace by screening permit 

applicants to ensure only qualified persons engage in operations. Under a two-year Agency 

Priority Goal (APG) for FY 2018 – 2019, TTB and Treasury set a performance goal to 

improve the timeliness and consistency of service levels by reducing average processing 

times for new permit applications by 20 percent and achieving its service standard for 85 

percent of applicants. TTB met one of its two APG targets in FY 2019, reducing average 

approval times to 75 days. However, TTB fell short of its second target to achieve the 75-day 

service standard for 85 percent of permit applicants. In FY 2020, TTB retained this second 

prong of its priority goal and, by year-end, nearly achieved target at 84 percent. Average 

review times also decreased significantly, down to 42 days overall in FY 2020, with 

improvements across all application types. TTB attributes these gains to improved backlog 

management, which was facilitated by new permit application dashboards that display key 

metrics on the status and age of pending applications to support effective processing and 

management. 

 TTB made significant progress in reducing the error rate on initial permit, label, and formula 

applications, a critical strategy to maintaining timely service, although performance remains 

well above the targeted rate of 25 percent, at 62 percent for permit applications and 34 

percent for label and formula applications. Improvements in FY 2020 were driven by system 

enhancements and online guidance. Performance in permitting is expected to continue to 

improve following planned enhancements to the Permits Online system and completion of 

planned rulemaking to implement broader changes to TTB permit applications. At the 

FY 2022 funding level, TTB will also continue to pursue system-based validations and user 

guidance to reduce label and formula application errors. 

 System enhancements to date have resulted in high rates of customer satisfaction with TTB's 

eGov systems. TTB monitors user satisfaction with the process of submitting an application 

through its eGov systems, collecting responses via e-mail survey to assess factors such as 

ease of access, guidance, and overall experience. In FY 2020, satisfaction rates increased, 

from 77 percent to 80 percent for COLAs Online users and 70 percent to 73 percent for 

Formulas Online users. TTB generally attributes these increases to reduced processing times 

Department of the Treasury - Budget in Brief 70 Appropriated Accounts - Bureau Program Detail
and anticipates that performance will continue to improve through FY 2022 in line with 

timely service levels. Further, TTB expects that planned system improvements in FY 2022 

and regular review of survey feedback will help TTB to exceed its user satisfaction target of 

80 percent and continue to attract users to its online systems to maintain electronic filing 

rates above its target of 98 percent. 

Department of the Treasury - Budget in Brief 71 Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 72 Appropriated Accounts - Bureau Program Detail
Bureau of the Fiscal Service 

Program Summary by Budget Activity 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating Plan Operating Plan Request $ Change % Change 

Accounting and Reporting $98,937 $96,472 $103,242 $6,770 7.02% 

Collections $37,948 $41,109 $42,417 $1,308 3.18% 

Payments $123,015 $123,190 $127,110 $3,920 3.18% 

Retail Securities Services $58,403 $59,312 $61,200 $1,888 3.18% 

Wholesale Securities Services $21,977 $25,486 $26,297 $811 3.18% 

Matured Unredeemed Debt $25,000 $25,000 $0 ($25,000) -100.00% 

Subtotal, Bureau of Fiscal Service $365,280 $370,569 $360,266 ($10,303) -2.78% 

Reimbursable $399,681 $402,000 $412,831 $10,831 2.69% 

Unobligated Balances Brought 

Forward $92,000 $137,546 $150,000 $12,454 9.05% 

Total Program Operating Level $856,961 $910,115 $923,097 $12,982 1.43% 

Direct FTE 1,499 1,577 1,617 40 2.54% 

Reimbursable FTE 358 412 412 0 0.00% 

Total Full-time Equivalents (FTE) 1,857 1,989 2,029 40 2.01% 

Note: FY 2020 Other Resources and Full-time Equivalents (FTE) reflect actuals. Table does not include supplemental funding provided under 

the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L.116-136) and the American Rescue Plan (ARP) (P.L.117-2). 

Additionally, unobligated balances do not include CARES and ARP. Matured Unredeemed Debt funding remains available until expended. 

Summary 

The FY 2022 request for the Fiscal Service is $360.3 million. The Budget ensures the viability of 

the Government’s National Financial Critical Infrastructure (NFCI) that finances Federal 

operations, collects revenue, disburses payments, and reports on the Government’s financial 

position. Because of Fiscal Service’s central role in government-wide financial operations, the 

budget also supports Treasury’s leadership in transforming Federal financial management to 

become more efficient, more accurate and deliver better service to citizens. 

The Budget invests in business modernization, customer experience, increasing availability of 

data, expanding financial management solutions, innovation, operational integrity, and our 

workforce. These priorities will advance Fiscal Service’s vision to transform federal financial 

management and allow the Bureau to deliver critical financial operations to the American public. 

The Financial Management Quality Service Management Office (FM QSMO) is a key initiative 

that supports multiple goals in Treasury’s 10-year Vision for the Future of Federal Financial 

Management. This office is ultimately responsible for operating the Federal marketplace and 

making quality core financial service offerings available to Federal agencies. FM QSMO seeks to 

partner with agency leaders to provide agencies with access to innovative and standardsbased financial management solutions and deliver expert guidance that will advance governmentwide financial management goals. 

 

Department of the Treasury - Budget in Brief 73 Appropriated Accounts - Bureau Program Detail
Budget Highlights 

 FTE Amount 

FY 2021 Operating Plan 1,577 $370,569 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $10,234 

Pay Annualization (1.0% average pay raise) 0 $557 

FERS Contribution Increase 0 $1,676 

Pay Raise (2.7% average pay raise) 0 $5,049 

Non-Pay 0 $2,952 

Non-Recurring Costs: 

Matured Unredeemed Debt 0 ($25,000) 

Other Adjustments: 

Annualization of Hires 38 $5,428 

Efficiency Savings: 

Non-Pay Decreases 0 ($5,428) 

Subtotal Changes to Base 38 ($14,766) 

FY 2022 Current Services 1,615 $355,803 

Program Changes: 

Program Increases: 

Quality Service Management Office 2 $3,700 

Electric Vehicles and Associated 

Infrastructure 0 $763 

Subtotal Program Changes 2 $4,463 

Total FY 2022 President's Budget 1,617 $360,266 

Budget Adjustments 

Maintaining Current Levels (MCLs)...................................................... +$10,234,000 / +0 FTE 

Pay Annualization (1.0%) +$557,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

FERS Contribution Increase +$1,676,000 / +0 FTE 

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

effective FY 2022. 

Pay Raise (2.7% in 2022) +$5,049,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise in January 2022. 

Non-Pay +$2,952,000 / +0 FTE 

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

equipment. 

Non-recurring Cost............................................................... -$25,000,000 / -0 FTE 

Matured Unredeemed Debt -$25,000,000 / -0 FTE 

United States Savings Bonds that have reached final maturity and stopped earning interest are 

considered Matured Unredeemed Debt (MUD). As of the end of FY 2020, the MUD balance 

had reached $27.5 billion. The Consolidated Appropriations Act, 2021, (P.L. 116-260) provided 

$25 million, available until expended, for the digitization of records of matured savings bonds 

that have not been redeemed. This adjustment removes the FY 2021 appropriation from the 

FY2022 base. 

Department of the Treasury - Budget in Brief 74 Appropriated Accounts - Bureau Program Detail
Other Adjustments................................................................................... +$5,428,000 / +38 FTE 

Annualization of Hires +$5,428,000 / +38 FTE 

Funds are requested for annualization of salary and benefits for hires that occur during FY 2021. 

These hires support the bureau’s priorities and the staffing levels required to ensure effective 

operational activities. 

Efficiency Savings........................................................................................ -$5,428,000 / -0 FTE 

Non-Pay Decreases -$5,428,000 / -0 FTE 

Anticipated savings from reduced non-pay programmatic requirements to align with operating 

levels. 

Program Increases...................................................................................... +$4,463,000 / +2 FTE 

Quality Service Management Office (QSMO) +$3,700,000 / +2 FTE 

This funding will support the Department’s implementation of the Financial Management 

Quality Service Management Office (FM QSMO). Federal agency financial systems face 

critical modernization needs, and opportunities exist for improving compliance with financial 

management standards, leveraging technology and shared solutions, and reducing lengthy 

deployment delays and cost overruns. By leveraging the FM QSMO’s Marketplace of 

core financial systems preconfigured with standards-based capabilities, agencies will share in the 

initial cost of modernizing a system as well as keep systems up to date by utilizing Marketplace 

providers. 

Increased funding will allow Treasury to continue establishment and implementation of the 

FM QSMO Marketplace of solutions and services, which will help agencies meet their financial 

management needs and accomplish shared government-wide goals. During FY 2022, Treasury 

plans to stand-up the initial Marketplace for agencies to acquire core financial system solutions 

through a government-wide contract vehicle. It is envisioned that the Marketplace will also 

include other financial management solutions and services complementary to core financial 

systems as well as Treasury centralized services. In addition, the increased funding will enable 

the Treasury FM QSMO team to work with agencies to assess adoption readiness, plan for use of 

the Marketplace solutions and services, and provide the necessary support to ensure agency 

participation in the design of the Marketplace 

Electric Vehicle and Associated Infrastructure +763,000 / +0 FTE 

Following the lead from Executive Order (E.O.) 14008, “Tackling the Climate Crises at Home 

and Aboard,” the U.S. Department of the Treasury joins in the Administration’s priority to 

develop a comprehensive plan to create good jobs and stimulate clean energy industries by 

revitalizing the Federal Government’s sustainability efforts. This includes Treasury’s 

commitment to use all available procurement authorities to augment its Departmentwide fleet 

management program with a continued focus on leasing of electric vehicles (EV) and 

purchasing, installing, and maintaining essential infrastructure. The planned resources will help 

Treasury comply with the requirements set forth by E.O. 14008 and reduce the carbon footprint 

of emissions into the atmosphere by acquiring an updated fleet of zero-emissions vehicles that 

can support mission operations. 

For FY 2022, the Bureau of Fiscal Service (Fiscal Service) requests $763,000 to fund the 

eventual full conversion of its fleet to EV. Of that money, approximately $50,000 will be 

Department of the Treasury - Budget in Brief 75 Appropriated Accounts - Bureau Program Detail
allocated to support the purchase, installation, maintenance, and/or upgrade of infrastructure 

required to maintain an EV fleet management program. It is expected that Fiscal Service will 

need two charging stations to support its future EV state. Currently, Fiscal Service has a total of 

29 vehicles in its fleet, of which two are EVs. 

Performance Highlights 

Budget Activity Performance Measure 

FY 2018 

Actual 

FY 2019 

Actual 

FY 2020 

Actual 

FY 2021 

Target 

FY 2022 

Target 

Accounting and Reporting Percentage of Government-wide 

Accounting Reports Issued Timely (%) 100.0 99.6 100.0 99.5 99.5 

Collections 

Percentage of Total Federal 

Government Receipts Settled 

Electronically (%) 

98.0 98.4 99.0 98.0 98.3 

Payments Percentage of Treasury Payments Made 

Electronically (%) 95.4 95.6 96.0 96.1 96.4 

Payments Count of Improper Payments identified 

or Stopped (# in Thousands) 20.3 22.4 22.8 21.5 22.5 

Payments Dollar Amount of Improper Payments 

Identified or Stopped ($ Millions) 35.5 41.1 43.5 37.0 38.8 

Retail Securities Services Percentage of Retail Customer Service 

Transactions That Are Unassisted (%) N/A 69 70 71 72 

Wholesale Securities 

Services 

Percentage of Auction Results Released 

Accurately (%) 98.9 98.8 100 100 100 

Wholesale Securities 

Services 

Percent of Auctions Successfully 

Completed by the Scheduled Close Date 

(%) 

N/A 100 100 100 100 

Debt Collection 

Amount of Delinquent Debt Collected 

Through All Available Tools 

($ Billions) 

7.44 9.65 10.68 8.81 9.04 

Debt Collection 

All Delinquent Debt Collected as a 

Percentage of all Delinquent Debt 

Referred (%) 

N/A 14.3 15.7 14.9 14.9 

Debt Collection Percentage of the Active Delinquent 

Debt Portfolio Collected (%) N/A 6.8 9.2 7.0 7.0 

Description of Performance 

Accounting and Reporting: Fiscal Service collects, analyzes, and publishes government-wide 

financial information, made available to both the public and private sectors, to provide 

transparency on the Government’s financial status. In FY 2020, Fiscal Service continued its 

strong performance by issuing 100 percent of government-wide accounting reports on time. This 

is an improvement over FY 2019, where a one-time system error impacted the annual 

performance. Fiscal Service expects to meet its FY 2021 and FY 2022 performance targets by 

transforming the quality, effectiveness, and transparency of Federal financial management data; 

delivering value-added business process and system improvements; and expanding/enhancing 

relationships with stakeholders and customers. 

Collections: In FY 2020, Fiscal Service continued growth in electronic collections by 

electronically settling 99.0 percent of all Federal Government receipts, in dollars, which 

exceeded the target of 98.0 percent. The performance results were achieved because of our 

continuing efforts to move paper-based transactions to electronic alternatives (e.g., Pay.gov and 

eCommerce alternatives such as digital wallets), and a decline in non-electronic collections due 

to the pandemic. Fiscal Service expects to maintain the 98.0 percent target in FY 2021 by 

continuing to promote the use of electronic systems in the collections process and assisting 

agencies in converting collections from paper to electronic media, which supports the 

Department of the Treasury - Budget in Brief 76 Appropriated Accounts - Bureau Program Detail
administration’s climate priority. While the 99.0 percent rate was achieved in FY 2020, the target 

for FY 2021 will remain at 98.0 percent due to the uncertainty and potential impacts from the 

pandemic on FY 2021 collections. 

Payments: Fiscal Service continues to increase the percentage of federal payments which are 

Treasury-disbursed. In FY 2020, Fiscal Service disbursed 88 percent of all federal payments. 

In FY 2020, the Fiscal Service payments activity encountered unprecedented workload in 

support of the CARES legislation, specifically the delivery of Economic Impact Payments (EIP) 

to the American public. Fiscal Service securely disbursed 1.4 billion payments totaling $5.4 

trillion; of these totals, EIPs accounted for more than 160 million payments totaling more than 

$270 billion. During FY 2021, Fiscal Service issued 147 million EIP2s and as of May 12, 2021 

has issued 165 million EIP3s. In total, over 472 million economic impact payments have been 

disbursed during FY 2020 and FY 2021. 

Retail Securities Services: Retail Securities Services has demonstrated progress with improving 

customer self-sufficiency. In FY 2020, the percentage of unassisted retail securities transactions 

increased over the FY 2019 baseline, with 70 percent of retail securities transactions unassisted. 

In FY 2021 and beyond, Fiscal Service will continue to modernize its business to improve the 

customer experience by increasing customer self-sufficiency and encouraging more investors to 

save for the future, while achieving Treasury’s financing mission in a cost-effective manner. 

These improvements will enhance the customers’ ability to purchase, reinvest, and manage their 

Treasury retail investments. Improving savings bond records over time will enable collaboration 

with stakeholders in locating matured unredeemed debt (MUD) bondholders. Fiscal Service 

continues to work with the National Association of Unclaimed Property Administrators 

(NAUPA) and the National Association of State Treasurers (NAST) to find collaborative 

solutions to locate owners of MUD bonds.

Wholesale Securities Services: In FY 2020, the Federal Government’s response to the 

COVID-19 pandemic resulted in an unprecedented increase in Treasury borrowing needs. 

Treasury successfully conducted 447 auctions and raised more than $18.6 trillion without 

disrupting financial markets. In FY 2020, Fiscal Service set many records for auction-related 

workload indicators. Thirteen auctions, the most since 2008, were conducted during the week of 

April 6‐10, auctioning $611 billion in Treasury securities. Five auctions in a single day were 

conducted for the first time ever on May 27, and six auctions in a single day were conducted on 

September 8. Prior to the economic stimulus package, WSS averaged 28 auctions and 

$1.06 trillion securities awarded per month. Since April 2020, the monthly averages have 

increased to 47 auctions (+67.7 percent) and $2.04 trillion awarded (+89.18 percent) per month. 

Debt Collection: Fiscal Service is the Government’s central debt collection agency, managing 

the Government’s delinquent debt portfolio and collecting delinquent debts owed to the United 

States, such as Federal mortgage, small business, or student loans; Federal salary or benefit 

overpayments; and fines or penalties assessed by Federal agencies. Fiscal Service collects 

delinquent debt through two programs: Treasury Offset Program (TOP) and Cross-Servicing. 

Fiscal Service continues to increase the amount of delinquent debt collected through all available 

tools. During FY 2020, the COVID-19 pandemic had a significant impact on delinquent debt 

collection Agencies continuing to suspend collections is resulting in overall decrease in Fiscal 

Service’s collections revenue. 

Department of the Treasury - Budget in Brief 77 Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 78 Appropriated Accounts - Bureau Program Detail
Internal Revenue Service

Program Summary by Budget Activity

 

FY 2020 FY 2021 FY 2022

Budget Activity Operating Plan 1 Operating Plan 2 Request $ Change % Change 

Taxpayer Services $2,535,554 $2,587,606 $2,940,876 $353,270 13.65%

Pre-filing Taxpayer Assistance and Education 647,066 657,618 713,346 55,728 8.47%

Filing and Account Services 1,888,488 1,929,988 2,227,530 297,542 15.42%

Enforcement $4,909,500 $5,004,622 $5,462,823 $458,201 9.16%

Investigations 648,819 698,193 773,605 75,412 10.80%

Exam and Collections 4,081,409 4,120,886 4,497,709 376,823 9.14%

Regulatory 179,272 185,543 191,509 5,966 3.22%

Operations Support $3,885,000 $4,104,102 $4,448,195 $344,093 8.38%

Infrastructure 881,670 886,713 971,008 84,295 9.51%

Shared Services and Support 990,690 1,024,654 1,088,217 63,563 6.20%

Information Services 2,012,640 2,192,735 2,388,970 196,235 8.95%

Business Systems Modernization $180,000 $222,724 $305,032 $82,308 36.96%

Subtotal Internal Revenue Service $11,510,054 $11,919,054 $13,156,926 $1,237,872 10.39%

Reimbursables 179,652 179,759 189,645 9,886 5.50%

Offsetting Collections - Non Reimbursables 6,728 21,300 22,472 1,172 5.50%

User Fees 485,997 585,244 435,400 (149,844) -25.60%

Recovery from Prior Years 16,457 16,764 16,764 

Recoveries Paid 3,604 3,604 

Unobligated Balances from Prior Years 171,189 318,017 327,299 9,282 2.92%

Transfers In/Out 137 140 140 

Resources from Other Accounts 123,039 98,153 (24,886) -20.23%

Total Program Operating Level $12,370,214 $13,166,921 $14,250,403 $1,083,482 8.23%

Direct FTE 73,240 73,409 79,348 5,939 8.09%

Reimbursable FTE 790 808 (808) -100.00%

Offsetting Collections - Non Reimbursables 834 834 

User Fee FTE 4 1,536 86 (1,450) -94.40%

Recovery from Prior Years

Recoveries Paid

Unobligated Balances from Prior Years 385 15 15 

Resources from Other Accounts 274 434 434 

Total FTE 74,693 76,202 80,717 4,515 5.93%

Dollars in thousands

FY 2021 TO FY 2022

2 FY 2021 Operating Plan includes a $176 million interappropriation transfer from Enforcement to Operations Support and a $32 million transfer from Enforcement to Taxpayer Services to cover anticipated 

operations and maintenance requirements in FY 2021.

Note: This table does not include the $15 million in the Families First Coronavirus Response Act (FFCRA) (P.L 116-127), $750.7 million under the Coronavirus Aid, Relief, and Economic Security (CARES) Act 

(P.L. 116-36), the $509 million provided in the Consolidated Appropriations Act, 2021 (P.L. 116-260), the $1.86 billion provided by the American Rescue Plan (ARP) (P.L. 117-2), the $417 million Program Integrity 

Allocation Adjustment, and the $79 billion mandatory funding proposal.

1 FY 2020 Operating Plan amounts for Other Resources represent actuals.

Department of the Treasury - Budget in Brief 79 Appropriated Accounts - Bureau Program Detail
Summary

The IRS FY 2022 budget request is $13.16 billion, $1.24 billion (10.4 percent) more than the 

FY 2021 enacted level of $11.92 billion. 

It includes total program increases totaling $915.46 million that includes resources for the 

following categories: Putting Taxpayers First ($176.09 million); Ensure Fairness of the Tax 

System ($340.27 million), Improve Live Assistance ($318 million), IT Modernization ($78.14

million) and Electrical Vehicles ($2.96 million). It funds costs associated with the FY 2021 and 

FY 2022 pay raises and an increase in Federal Employment Retirement System contributions. It

proposes a program integrity allocation adjustment of $417 million in FY 2022 and additional 

adjustments through FY 2031 to generate and protect $50 billion in revenue over 10 years and 

cost approximately $7 billion resulting in an estimated net savings of $43 billion. In addition, the 

Budget includes a multi-year initiative to improve tax compliance and enforcement, modernize 

IRS IT systems, support increased information reporting, and support the Administration's 

proposal to make the Child Tax Credit expansion and the advance payments permanent as well 

as additional authority to improve tax administration. 

In accordance with the Government Performance and Results Act Modernization Act 

(GPRAMA) of 2010, the Department of the Treasury is currently developing the FY 2022 – 

2026 Departmental Strategic Plan. The Strategic Plan is scheduled for publication in 2022. The 

Annual Performance Plan will be updated in the FY 2023 President’s Budget to reflect new 

departmental strategic goals and objectives. IRS will publish a component plan that aligns bureau 

activities and priorities to the Department’s by the spring of 2022. 

In FY 2020, the IRS delivered a successful filing season that opened January 27, 2020 but due to 

the pandemic, extended to July 15, 2020. During the 2020 filing season, the IRS:

• Processed about 145 million individual tax returns and issued more than 100 million refunds 

totaling more than $276 billion with an average individual refund of $2,034. Almost

96.9 percent of these individual returns were filed electronically; 

• Achieved a 53.1 percent filing season level of service (LOS), the relative success rate of 

taxpayers calling the toll-free line for assistance, 11.5 percent below the target of 60 percent; 

• Answered more than 35 million calls, with 10 million being answered by IRS assistors and 

over 25 million being answered through automation; 

• Served approximately 537,000 taxpayers face-to-face in the Taxpayer Assistance Centers 

(TAC). More than 715,000 taxpayers called the IRS’s TAC appointment line resulting in 

around 364,000 appointments being scheduled. Approximately 351,000 taxpayers had their 

issues resolved without having to make an appointment; and 

• Received 1.4 billion visits to the IRS.gov website with 469 million Where’s My Refund?

completions. This represents a 164 percent increase in the use of IRS.gov and a 31 percent 

increase in Where’s My Refund? compared to the same period during 2019. 

Department of the Treasury - Budget in Brief 80 Appropriated Accounts - Bureau Program Detail
IRS FY 2022 Budget Highlights

Dollars in Thousands

Budget Adjustments 

Base Adjustment................................................................................ $0 / 0 FTE 

The FY 2021 enacted level of $11.9 billion is the base of this budget. 

 

Maintaining Current Levels (MCLs)....................................... +$327,995,000 / +0 FTE 

Pay Annualization (1.0%) +$22,442,000 / +0 FTE 

Funds are requested for annualization of a 1% average pay raise implemented in January 2021. 

Pay Raise (2.7% in FY 2022) +$182,239,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise effective January 2022. 

FERS Contribution Increase +$67,673,000 / +0 FTE 

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

effective FY 2022. 

Bureau: Internal Revenue Service 

Summary of FY 2022 Request $000 FTE $000 FTE $000 FTE $000 FTE $000 FTE

FY 2021 Operating Plan $2,587,606 25,989 $5,004,622 34,989 $4,104,102 12,037 $222,724 394 $11,919,054 73,409

Changes to Base:

Maintaining Current Levels (MCLs) $75,138 $148,473 $100,219 $4,165 $327,995

Pay Annualization (1.0% average pay raise) 5,930 11,650 4,699 163 22,442

Pay Raise (2.7% average pay raise) 48,152 94,603 38,157 1,327 182,239

Non-Pay 4,138 6,725 42,546 2,232 55,641

FERS Contribution Increase 16,918 35,495 14,817 443 67,673

Efficiencies/Savings ($5,494) (409) ($91) ($5,585) (409)

Increase e-File Savings (5,494) (101) (91) (5,585) (101)

Personnel Savings (308) (308)

Subtotal FY 2022 Changes to Base $69,644 (409) $148,473 $100,128 $4,165 $322,410 (409)

FY 2022 Current Services $2,657,250 25,580 $5,153,095 34,989 $4,204,230 12,037 $226,889 394 $12,241,464 73,000

Program Increases:

Putting Taxpayers First 35,459 55 36,294 96 104,333 143 176,086 294

User Authentication 27,000 27,000

Taxpayer Experience Strategy 8,459 55 36,294 96 104,333 143 149,086 294

Ensure Fairness of the Tax System 270,858 1,820 69,409 13 340,267 1,833

Improve Live Assistance 248,167 4,203 69,833 318,000 4,203

Integrated Modernization Business Plan 78,143 18 78,143 18

Electric Vehicles and Associated Infrastructure 2,576 390 2,966

Subtotal FY 2022 Program Increases $283,626 4,258 $309,728 1,916 $243,965 156 $78,143 18 $915,462 6,348

Total FY 2022 Request (Before PIAA) $2,940,876 29,838 $5,462,823 36,905 $4,448,195 12,193 $305,032 412 $13,156,926 79,348

Dollar/FTE Change FY 2022 Request over FY 2021 Operating Plan $353,270 3,849 $458,201 1,916 $344,093 156 $82,308 18 $1,237,872 5,939

Percent Change FY 2022 Request over FY 2021 Operating Plan 13.65% 14.81% 9.16% 5.48% 8.38% 1.30% 36.96% 4.57% 10.39% 8.09%

PIAA Program Increases

Increase Audit Coverage 109,317 1,028 39,493 15 148,810 1,043

Increase Collection Coverage 113,122 1,164 46,334 20 159,456 1,184

Expand Coverage in the Tax-Exempt Sector 29,952 244 7,998 37,950 244

Enhance Return Review Program 3,388 60 34,953 38,341 60

Enhance Enforcement Operations 31,673 23 667 32,340 23

Subtotal FY 2022 PIAA Investments $287,452 2,519 $129,445 35 $416,897 2,554

Total FY 2022 Request Including PIAA $2,940,876 29,838 $5,750,275 39,424 $4,577,640 12,228 $305,032 412 $13,573,823 81,902

Dollar/FTE Change FY 2022 Request Including PIAA over FY 2021 Operating Plan $353,270 3,849 $745,653 4,435 $473,538 191 $82,308 18 $1,654,769 8,493

Percent Change FY 2022 Request Including PIAA over FY 2021 Operating Plan 13.65% 14.81% 14.90% 12.67% 11.54% 1.59% 36.96% 4.57% 13.88% 11.57%

TAXPAYER SERVICES ENFORCEMENT OPERATIONS 

SUPPORT BSM TOTAL

Department of the Treasury - Budget in Brief 81 Appropriated Accounts - Bureau Program Detail
Non-Pay +$55,641,000 / +0 FTE 

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

and equipment. 

Efficiencies/Savings.............................................................. -$5,585,300 / -409 FTE

Increase e-File Savings -$5,585,300 / -101 FTE 

The IRS projects a total of 1,426,500 fewer returns filed on paper (752,200 individual and

674,300 business returns). As a result, the IRS will need 101 fewer FTE in submission 

processing, generating a savings of $5.6 million.

Personnel Savings -$0 / -308 FTE

Although the budget request increases staffing resources to support strategic priorities, the IRS 

must manage its personnel costs through limited attrition replacement and seasonal workforce 

adjustments across many operational areas. These adjustments are necessary to fund the $328 

million in inflationary and labor cost increases for existing personnel, including annualization of 

the FY 2021 pay raise, the proposed FY 2022 pay raise, employee promotions, and employee 

retirement contributions. To achieve these savings, the IRS plans to:

• Fill critical vacancies only; 

• Streamline the workforce by reducing administrative, analyst, and other support positions; 

and 

• Realign mission critical occupations by hiring employees who have the background and 

skills to support the IRS in meeting its strategic goals, objectives, and priorities. 

Program Increases........................................................ +$915,462,000 / +6,348 FTE

Implementing the Taxpayer First Act +$176,086,000 / +294 FTE 

Implementing the Taxpayer First Act dramatically change how the IRS engages with taxpayers. 

These efforts will improve the experience of taxpayers as they interact with the IRS and increase 

the IRS’s ability to secure taxpayer information, protect taxpayer identities, develop additional 

online capabilities for taxpayers, and develop comprehensive training for IRS employees. This 

investment includes: 

• $27 million to add increased security and flexibilities to how the IRS identity proofs and 

authenticates taxpayers to allow secure access to taxpayer online services such as Identity 

Protection (IP) PINs in accordance with NIST standards; and 

• $149.09 million to develop and implement a Taxpayer Experience Strategy to improve the 

American taxpayer’s experience with the IRS through expanded digital services, increased 

multilingual services, and an increased presence in hard to reach communities. 

Ensure Fairness of the Tax System +$340,267,000 / +1,833 FTE 

A successful economy depends on an effective tax collection system. In order for a tax system to 

operate productively, all citizens must pay their fair share. The IRS must facilitate taxpayers’

voluntary compliance to deter those who might evade their legal tax obligations. Highlights of 

the investment include: 

• $154.87 million to increase the audit coverage rate of large corporations (with balance sheet 

assets > $10 million), pass-through entities, and high-wealth individuals with adjusted gross 

income of more than $10 million. Currently, this audit rate is half of what it was in FY 2010; 

Department of the Treasury - Budget in Brief 82 Appropriated Accounts - Bureau Program Detail
• $41.09 million to expand oversight of cyber-crimes and allow for applied data analytics 

which IRS can leverage to connect the most remote financial transaction between apparent 

disparate actors which can be the key piece of evidence to break open the most complex 

financial investigation;

• $13.47 million to enhance taxpayer confidence in the tax-exempt sector which is essential to 

preserving and protecting charitable tax deductions and the retirement savings of everyday 

Americans;

• $32.90 million to addresses pre-refund audit coverage; 

• $77.06 million for additional examination and collection employees to increase the individual 

audit and collection coverage rates; and

• $20.87 million to enhance overall enforcement efforts, increase the number of convictions 

and expand the IRS’s capabilities in core tax enforcement areas. 

Improve Live Assistance +$318,000,000 / +4,203 FTE 

Highlights of the investment include:

• $265.46 million increase the telephone level of service to approximately 75 percent and

significantly reduce the correspondence inventory. The IRS toll-free telephone customer 

service operation is one of the world’s largest and is a key part of the IRS’s service delivery; 

• $21.18 million to reduce a reduce a projected FY 2021 ending correspondence level of about 

1.4 million by 400,000; and 

• $31.36 million to increase staffing levels for IRS Taxpayer Assistance Centers. This 

investment will restore office hours, increase the number of appointments available, and will 

improve the taxpayer experience.

IRS Integrated Modernization Business Plan +$78,143,000 / +18 FTE 

Modernization is an IRS priority. The plan will enable the IRS to provide consistently superior 

service to taxpayers and deliver long-term budget efficiencies as the IRS modernizes capabilities 

currently provided via legacy applications. This investment is in addition to the $1 billion in IT 

Modernization funds that the IRS received in the American Rescue Plan. The 2022 requested 

level of $ $305.03 million includes: 

• $105 million for the Customer Account Data Engine(CADE) 2 project to continue replacing 

legacy code established almost 60 years ago;

• $64 million for Enterprise Case Management to establish a common cloud infrastructure, 

automate business functions, and enable seamless case transfers;

• $30 million for web applications to provide taxpayers and tax professionals a digital service 

channel to establish and manage taxpayer/tax professional authority relationships;

• $10 million for Taxpayer Digital Communications Outbound Notification Project which 

provides digital notices available through a secure online account for taxpayers who prefer 

that channel over mailed correspondence; 

• $15 million for the live assistance program to expand customer callback capabilities on IRS 

phone lines; 

• $15 million to modernize IRS infrastructure base and support software development;

• $20 million to improve security integration in system development and enhance data 

protection through encryption;

• $19 million to mitigate the risk of unauthorized access to tax data; 

Department of the Treasury - Budget in Brief 83 Appropriated Accounts - Bureau Program Detail
• $12 million to deliver a next generation secure operations center and block network access 

for unauthorized users; and

• $15 million to provide engineering management capabilities essential to delivering a large, 

complex modernization program, and in management reserves.

Electric Vehicles and Associated Infrastructure +$2,966,000 / +0 FTE 

• For FY 2022, the IRS – Criminal Investigation (IRS-CI) will receive $2,576,000 to fund the 

initial investment of its fleet to EV. Of that money, a to be determined amount will be 

allocated to the purchase, installation, maintenance, and/or upgrade of infrastructure required 

to maintain an EV fleet management program. Currently, IRS-CI has a total of 2,294 vehicles 

in its fleet, of which zero are EVs. 

• For FY 2022, the IRS Facilities Management and Security Services (IRS-FMSS) will receive 

$390,000 to fund the initial investment of its fleet to EV. Of that money, a to be determined 

amount will be allocated to the purchase, installation, maintenance, and/or upgrade of 

infrastructure required to maintain an EV fleet management program. Currently, IRS-FMSS 

has a total of 246 vehicles in its fleet, of which zero are EVs. 

Legislative Proposals 

The FY 2022 budget request includes tax administration legislative proposals. 

Increase Oversight of Paid Tax Return Preparers

The proposal would amend Title 31, U.S. Code (Money and Finance) to provide the Secretary 

with explicit authority to regulate all paid preparers of Federal tax returns, including by 

establishing mandatory minimum competency standards.

The proposal would be effective on the date of enactment. 

Increase penalties on ghost preparers

The proposal would increase the penalty amount to the greater of $500 per return or 100 percent 

of the income derived per return by a ghost preparer. The proposal would also increase the 

limitations period during which the penalty may be assessed from three years to six years.

The proposal would be effective for returns required to be filed after December 31, 2021. 

Introduce Comprehensive Financial Account Information Reporting to Improve Tax 

Compliance

This proposal would create a comprehensive financial account information reporting regime. 

Financial institutions would report data on financial accounts in an information return. The 

annual return will report gross inflows and outflows with a breakdown for physical cash, 

transactions with a foreign account, and transfers to and from another account with the same 

owner. This requirement would apply to all business and personal accounts from financial 

Department of the Treasury - Budget in Brief 84 Appropriated Accounts - Bureau Program Detail
institutions, including bank, loan, and investment accounts1

, with the exception of accounts 

below a low de minimis gross flow threshold of $600 or fair market value of $600. 

Other accounts with characteristics similar to financial institution accounts will be covered under 

this information reporting regime. In particular, payment settlement entities would collect 

Taxpayer Identification Numbers (TINs) and file a revised Form 1099-K expanded to all payee 

accounts (subject to the same de minimis threshold), reporting not only gross receipts but also 

gross purchases, physical cash, as well as payments to and from foreign accounts, and transfer 

inflows and outflows.

Similar reporting requirements would apply to crypto asset exchanges and custodians. 

Separately, reporting requirements would apply in cases in which taxpayers buy crypto assets 

from one broker and then transfer the crypto assets to another broker, and businesses that receive 

crypto assets in transactions with a fair market value of more than $10,000 would have to report 

such transactions.

The Secretary would be given broad authority to issue regulations necessary to implement this 

proposal. 

The proposal would be effective for tax years beginning after December 31, 2022. 

Enhance Accuracy of Tax Information 

Expand the Secretary’s authority to require electronic filing for forms and returns

Electronic filing would be required for returns filed by taxpayers reporting larger amounts or that 

are complex business entities, including: (1) income tax returns of individuals with gross income 

of $400,000 or more; (2) income, estate, or gift tax returns of all related individuals, estates, and 

trusts with assets or gross income of $400,000 or more in any of the three preceding years; (3) 

partnership returns for partnerships with assets or any item of income of more than $10 million in 

any of the three preceding years; (4) partnership returns for partnerships with more than 10 

partners; (5) returns of REITs, REMICs, RICs, and all insurance companies; and (6) corporate 

returns for corporations with $10 million or more in assets or more than 10 shareholders. Further, 

electronic filing would be required for the following forms: (1) Forms 8918, “Material Advisor 

Disclosure Statement”; (2) Forms 8886, “Reportable Transaction Disclosure Statement”; (3) 

Forms 1042, “Annual Withholding Tax Return for U.S. Source Income of Foreign Persons”; (4) 

Forms 8038-CP, “Return for Credit Payments to Issuers of Qualified Bonds”; and (5) Forms 8300, 

“Report of Cash Payments Over $10,000 Received in a Trade or Business.” 

Return preparers that expect to prepare more than 10 corporation income tax returns or partnership 

returns would be required to file such returns electronically.

1 Current income reporting by financial institutions would be expanded to all entities, including certain corporations. 

Interest payments would be included in the loan account reporting. Transferee information would be reported for all 

real estate transactions on Form 1099-S.

Department of the Treasury - Budget in Brief 85 Appropriated Accounts - Bureau Program Detail
The Secretary would also be authorized to determine which additional returns, statements, and 

other documents must be filed in electronic form in order to ensure the efficient administration of 

the internal revenue laws without regard to the number of returns that a person files during a year.

Improve information reporting for reportable payments subject to backup withholding 

The proposal would also treat all information returns subject to backup withholding similarly. 

Specifically, the IRS would be permitted to require payees of any reportable payments to furnish 

their TINs to payors under penalty of perjury. The proposal would be effective for payments 

made after December 31, 2021. 

Implement A Program Integrity Allocation Adjustment and Provide Additional Funding 

for Tax Administration

The Administration proposes a multi-year adjustment to the discretionary spending allocation for 

the IRS Enforcement and Operations Support accounts. The total adjustment would be $6.7 

billion over the budget window. The proposed allocation adjustment for 2022 would fund $417 

million in enforcement and compliance initiatives and investments above current levels of 

activity. The adjustment would cover inflation and the cost to sustain the new initiatives and 

investments through 2031.

In addition, the Administration proposes to provide the IRS $72.5 billion in mandatory funding 

over the budget window. A portion of these proposed IRS resources would fund improvements 

and expansions in enforcement and compliance activities. The proposed mandatory funding 

would also provide the IRS with resources to enhance its information technology capability, 

including implementation of the proposed financial information reporting regime, and to 

strengthen taxpayer service.

The proposal would direct that additional resources go toward enforcement against those with 

the highest incomes, rather than Americans with actual income of less than $400,000.

Details about these IRS funding programs are provided elsewhere in the Budget. 

IRS Centralized Services Fund / Working Capital Fund

The Budget includes appropriations language to establish a working capital fund for IRS 

centralized services. The fund will allow the IRS to achieve cost savings, promote economies of 

scale, establish more consistent processes and policies, and improve how it delivers facility 

services, technology, and other centralized services for its business units. For FY 2022, the fund 

proposes to start with several pilot projects that would test use of the fund, including potentially 

IT development and operations projects, facilities projects, and/or postage funding. 

Department of the Treasury - Budget in Brief 86 Appropriated Accounts - Bureau Program Detail
IRS Performance Highlights

Budget Activity Performance 

Measures

FY 2018 

Actual

FY 2019 

Actual

FY 2020 

Actual

FY 2021 

Target 

FY 2022 

Target 

Pre-Filing 

Taxpayer 

Assistance and 

Education

Enterprise SelfAssistance 

Participation 

Rate (ESAPR)

82.0% 85.4% 90.6% 89.0% 89.0% 

Filing and 

Account Services

Customer 

Service 

Representative 

(CSR) Level of 

Service (LOS)

75.9% 65.4% 53.1% 32.0% 75.0% 

Investigations 

Criminal 

Investigations 

Completed

3,051 2,797 2,624 2,600 2,600 

Investigations Conviction 

Rate 91.7% 91.2% 90.4% 92.0% 92.0% 

Exam and 

Collections 

Exam 

Efficiency - 

Individual

131 109 76 111 117 

Information 

Services

Percentage of 

Aged Hardware 45.5% 31.0% 16.0% 20.0% 20.0% 

Description of Performance

In FY 2020, the IRS continued to provide quality service to taxpayers and to enforce the laws 

with integrity and fairness. The IRS continued to deliver improvements in key areas, including 

international, tax exempt, refund fraud, and identity theft. These accomplishments are in addition 

to the IRS significant accomplishments in administering Economic Impact Payments, 

implementing major tax law changes including business tax relief, providing administrative relief 

to taxpayers while the IRS faced operational challenges to protect the health and safety of its 

employees. For additional information, please reference the Treasury Coronavirus Relief, 

Response, Aid, and Recovery Programs Congressional Justification. 

Taxpayer Services

The IRS strives to deliver high quality and timely service to taxpayers and stakeholders and help 

them understand and meet their tax obligations. 

The IRS:

• Achieved a 67.4 percent business e-file rate; 

• Delivered a fiscal year telephone LOS of 53.1 percent; 

• Answered more than 35 million calls; and 

• Answered over 90 percent of account questions over the telephone correctly. 

The IRS continues to improve and expand its outreach and educational services through 

partnerships with state taxing authorities, volunteer groups, and other organizations. Volunteer 

Department of the Treasury - Budget in Brief 87 Appropriated Accounts - Bureau Program Detail
Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) sites provided free tax 

assistance for the elderly, disabled, and limited English proficient individuals and families. 

The IRS’s toll-free telephone line is one of the world’s largest customer service phone 

operations. In March 2020, the IRS suspended customer service phone operations in response to 

the COVID-19 pandemic. In May, the IRS gradually began resuming CSR-assisted phone lines. 

For FY 2020, the IRS delivered a 53.1 percent CSR LOS, which measures the relative success 

rate of taxpayers who call the toll-free number and connect with an assistor. The IRS will lower 

its FY 2021 CSR LOS target to 32 percent resulting from the increased work due to the delivery 

of the EIPs and a dramatic increase in call volume. A large increase in usage of IRS.gov helped 

to compensate for disruptions in the CSR service. IRS.gov had the 22 highest traffic days in 

history, all in the window of April 13 through May 5. The FY 2022 LOS target is set at 75 

percent.

The IRS continues to improve taxpayer services by developing and improving self-assistance 

tools. In FY 2020 ESAPR was 90.6 percent, exceeding the target of 82 percent. Total services 

increased 26.8 percent and self-assisted services increased 34.5 percent compared to the prior 

year. The applications having the highest increases are Interactive Tax Assistant (128 percent), 

Where’s My Refund (37.1 percent), Get Transcript Online (74.6 percent). The ESAPR FY 2021 

and FY 2022 target is set at 89 percent. 

Enforcement

In FY 2020, the IRS collected $51.1 billion through enforcement programs, a return on 

investment (ROI) of about $5 to $1. This number is likely understated, since the ROI estimate 

does not include the revenue effect of the indirect deterrence value of IRS enforcement 

programs. 

The IRS Criminal Investigation (CI) investigates potential criminal violations of the Internal 

Revenue Code and related financial crimes, such as money laundering, currency violations, 

tax-related identity theft fraud, and terrorist financing that adversely affect tax administration. In 

FY 2020 CI completed 2,624 criminal investigations, achieved 1,187 convictions with a rate of 

90.4 percent, and achieved a Department of Justice case acceptance rate of 91.6 percent and a 

U.S. Attorney case acceptance rate of 92.4 percent, which compares favorably with other federal 

law enforcement agencies. 

The Examination program provides taxpayers top quality service by helping them understand and 

meet their tax responsibilities and by applying the tax law with integrity and fairness. In FY 2020, 

Exam Efficiency - Individual (the number of closures divided by the total Exam FTE) was 76, 

below the target of 115 and down 30 percent from FY 2019, primarily due to the pandemic. The 

effects of the COVID-19 shutdown drove closures 24.9 percent lower than FY 2019 while filings 

continued to rise. The IRS set a target of 111 in FY 2021 and a target of 117 in FY 2022. IRS will 

continue to monitor starts and inventory to meet future targets. 

Operations Support

The Percentage of Aged Hardware measure shows the quantity of IT hardware in operation past 

its useful life as a percentage of total hardware in use. The IRS made considerable progress 

reducing the percentage of aged hardware from 31 percent at the end of FY 2019 to 16 percent at 

Department of the Treasury - Budget in Brief 88 Appropriated Accounts - Bureau Program Detail
the end of FY 2020. The major driver in exceeding this goal was the large volume of refreshed 

workstations. For FY 2021, IT will utilize an Enterprise Demand Management tool to improve 

processing efficiency by increasing the visibility of overall IT demand for aged infrastructure 

refresh. The target will be set at 20 percent for FY 2021 and FY 2022. 

Business Systems Modernization 

In FY 2020, the IRS made considerable progress toward modernization. Some key 

accomplishments were: 

• Completed approximately 64,000 lines of code of the CADE 2 conversion from Assembly 

Language Code (ALC) to Java—bringing the completion to-date to over 128,000 lines of 

code converted; 

• Procured a cloud based, commercial-off-the-shelf platform and delivered the first increment 

of Enterprise Case Management, making the new platform ready for use. Within six months 

of the contract award, IRS effectively worked the first case in production. Deployed 

Application Programming Interface for certain e-Services used by tax professionals, 

including a new auto enrollment functionality for the Transcript Delivery System, Taxpayer 

Identification Number Matching and the Secure Object Repository. We successfully enabled 

access to the new functionality for more than 50 external customers, making it more 

convenient to self-register and securely receive requested data in real-time while significantly 

reducing administrative burden;

• Reduced IRS aged hardware to approximately 16 percent, a significant improvement since 

FY 2017 when aged hardware was estimated to be over 64 percent; 

• Standardized how the IRS delivers servers, reducing delivery times from an estimated 7,200 

minutes on average to 28 minutes; and 

• Used robotic process automation to modify active procurement contracts, resulting in a time 

savings of 2,788 hours per year and automated the monitoring of small business offer in 

compromise agreements has now automated the manual process of monitoring agreements, 

saving approximately 26,800 hours of manual work per year and reducing the risk of human 

error.

In FY 2021, IRS plans to build on its FY 2020 successes. In addition to its base resources, the 

IRS plans to use the $1.0 billion it received in the American Rescue Plan to address foundational 

needs in the areas of applications, infrastructure, security, data and workforce to enable a 

modernized IRS IT shop and to accelerate and/or initiate business and taxpayer-facing 

modernization capabilities.

Department of the Treasury - Budget in Brief 89 Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 90 Appropriated Accounts - Bureau Program Detail
Office of Financial Stability 

Program Summary by Budget Activity 

Dollars in Billions 

Cumulative 

Obligated 

(as of 

11/30/2020) 

Cumulative 

Disbursed 

(as of 

11/30/2020) 

Cumulative 

Outstanding 

(as of 

11/30/2020) 

Total 

Cumulative 

Income 

(as of 

11/30/2020) 

Total Cash 

Back (as of 

11/30/2020) 

Total 

Estimated 

Life Costs 

(as of 

11/30/2020) 

Bank Support Programs 250.5 245.5 0.0 35.7 275.6 (24.3) 

Credit Market Programs 19.1 19.1 0.0 4.5 23.6 (3.3) 

AIG Investment Program (AIG) 67.8 67.8 0.0 1.0 55.3 15.2 

Automotive Industry Financing Program 79.7 79.7 0.0 7.4 70.6 12.1 

Treasury Housing Programs 32.6 30.9 0.0 0.0 0.0 32.4 

Total 449.6 443.0 0.0 48.6 425.1 32.1 

Additional AIG Common Shares Held by 

Treasury 0.0 0.0 0.0 17.6 17.6 (17.6) 

Total for Programs and Shares 449.6 443.0 0.0 66.2 442.7 14.5 

*If all Treasury AIG Investments are combined, we currently estimate a net gain of nearly $2.4 billion on those shares.

Administrative Account Summary 

Dollars in Thousands 

FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Actual Estimated Estimated Change % Change 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Obligations 

TARP Administrative Account 43,078 40,789 37,637 (3,152) -7.73% 

Total Obligations $43,078 $40,789 $37,637 ($3,152) -7.73%

Total Full-time Equivalents (FTE) 14 11 10 -1 -9.09%

Summary 

A central part of the response to the 2008 financial crisis was the implementation of the Troubled 

Asset Relief Program (TARP), which was established in the fall of 2008 under the Emergency 

Economic Stabilization Act of 2008 (EESA) (P.L. 110-343) within the Office of Domestic 

Finance at the U.S. Department of the Treasury (Treasury). TARP was created to restore the 

liquidity and stability of the financial system, and it is administered by the Office of Financial 

Stability (OFS). Since late 2010, OFS has made significant progress in winding down TARP 

investment programs and in recovering OFS’s outstanding investments. 

OFS continues to operate a housing program to help homeowners prevent avoidable 

foreclosures. However, in 2016, OFS began the wind-down of the largest TARP housing 

program, the Marking Home Affordable Program, pursuant to the Consolidated Appropriations 

Act, 2016. As of November 30, 2020, OFS has recovered more than 96 percent of the $442.7 

billion in total program funds disbursed under TARP, as well as an additional $17.6 billion from 

Treasury’s equity in American International Group, Inc. (AIG). When all of Treasury’s AIG 

investments are included, the amount recovered is greater than the funds disbursed by nearly 

$0.2 billion. 

In FY 2021, OFS plans to obligate just over $40 million and use no more than 11 Full-Time 

Equivalent (FTE) employees. In FY 2022, OFS plans to obligate just over $38 million and use 

Department of the Treasury - Budget in Brief 91 Non-Appropriated Accounts - Bureau Program Detail
no more than 10 FTE employees, a reduction of over 6% and 9%, respectively, from the current 

FY 2021 estimates, to fund the management, maintenance and continued wind-down of the 

TARP housing programs and the disposition of OFS’s remaining investments. OFS is expected 

to complete its wind-down in FY 2024. 

Description of Performance 

Bank Support Programs 

Capital Purchase Program (CPP) 

OFS created CPP, its largest program, in October 2008. OFS provided a total of $204.9 billion 

in capital to 707 institutions in 48 states. During FY 2020, OFS continued to wind-down 

remaining CPP investments. As of November 30, 2020, CPP has generated $226.4 billion in 

recoveries for taxpayers with two institutions remaining in the program, for a total of $17 million 

in investments outstanding. 

Community Development Capital Initiative (CDCI) 

OFS created CDCI on February 3, 2010, to provide investments of capital to certified 

Community Development Financial Institutions (CDFI) banks, thrifts, and credit unions. OFS 

invested $570 million in 84 CDFIs, of which 28 institutions converted $363 million (including 

warrants) from CPP to CDCI. As of November 30, 2020, CDCI has generated $592 million in 

recoveries for taxpayers with two institutions remaining in the program, for a total of $1 million 

in investments outstanding. 

Housing Programs 

OFS established several TARP housing programs, assisting millions of homeowners and 

introducing reforms for the mortgage servicing industry to facilitate mortgage modifications. 

Making Home Affordable Program (MHA) 

In 2009, OFS launched MHA to help homeowners prevent avoidable foreclosures and strengthen 

the housing market. The cornerstone of MHA is the Home Affordable Modification Program 

(HAMP), which provides eligible homeowners the opportunity to reduce their monthly mortgage 

payments. In accordance with provisions of the Consolidated Appropriations Act, 2016 (P.L. 

114-113) MHA terminated on December 31, 2016, except with respect to certain applications 

made before such date. MHA servicers were required to design policies and procedures to 

reasonably ensure that all MHA transactions were completed by December 1, 2017. As of 

November 30, 2020, OFS had disbursed $21.4 billion out of a possible $22.9 billion under MHA. 

Housing Finance Agency (HFA) Hardest Hit (HHF) Fund 

Established in 2010 to provide aid to homeowners in states hit hardest by the economic and 

housing market downturn. The $7.6 billion initiative encompassed 18 states and the District of 

Columbia (DC). In December 2015, P.L. 114-113 granted Treasury authority to make an 

additional $2.0 billion in commitments through the HHF. As of November 30, 2020, OFS had 

disbursed $9.5 billion out of a possible $9.6 billion under HHF. 

 

Department of the Treasury - Budget in Brief 92 Non-Appropriated Accounts - Bureau Program Detail
Federal Housing Administration (FHA) - Short Refinance Program 

OFS continues to support the FHA Short-Refinance Program, which was intended to assist 

borrowers with negative equity. The program has seen limited participation. As such, OFS has 

incrementally reduced the LOC Facility supporting this program from an initial $8.0 billion to 

$27 million in FY 2017, which matches OFS’s maximum liability for loans covered by the 

program as of December 31, 2016, when the program ended for new refinances. As of 

November 30, 2020, the revised lifetime cost estimate for the program was $13 million for 

outstanding refinanced loans.

Other Programs 

Automotive Industry Financing Program (AIFP) 

OFS fully wound down AIFP during FY 2015, selling its remaining stake in Ally Financial. 

OFS disbursed $79.7 billion in loans and equity investments to the automotive industry through 

the AIFP. As of November 30, 2020, OFS had collected $70.6 billion through sales, repayments, 

dividends, interest, recoveries, and other income. Recoveries from the bankruptcy liquidation of 

Old Chrysler and Old GM remain possible. 

All other TARP programs closed prior to FY 2016, including the Targeted Investment Program, 

Asset Guarantee Program, Public-Private Investment Program, Term Asset-Backed Securities 

Loan Facility, Small Business Administration 7(a) Securities Purchase Program, and AIG 

Investment Program. 

Department of the Treasury - Budget in Brief 93 Non-Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 94 Non-Appropriated Accounts - Bureau Program Detail
Office of Financial Research 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to 

FY 2022 

Budget Activity Actual Estimated Estimated % Change 

Data Center $2,771 $3,576 $3,710 3.7% 

Technology Center $35,739 $35,750 $37,541 5.0% 

Research and Analysis Center $7,340 $13,290 $14,718 10.7% 

Operations and Support Services $17,237 $19,565 $19,302 -1.3% 

Total Cost of Operations $63,087 $72,181 $75,271 4.3% 

Full-time Equivalents (FTE) 102 128 145 13.3% 

Note: The assessments, recoveries, interest and FTE estimates in the table above differ from the amounts in the 2022 President’s Budget. 

This difference is primarily due to adjustments made subsequent to the Appendix submission to account for lower interest income, 

higher-than-anticipated recoveries and anticipated carryover funding from FY 2020 to FY 2021, as well as slower than anticipated hiring. 

Summary 

The OFR was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act 

of 2010 to assist the Financial Stability Oversight Council (FSOC) and its member agencies 

though research, analytic tools, and data-related support on issues related to financial stability. 

Serving principally the FSOC and its member agencies, the OFR is tasked with improving the 

quality, transparency, and accessibility of financial data and information; assessing and 

monitoring threats to financial stability; conducting and sponsoring research related to financial 

stability; and promoting best practices in risk management. 

The Office of Financial Research (OFR or Office) is estimating a fiscal year (FY) 2022 funding 

level of $75.271 million, which is $3.090 million higher than its FY 2021 estimated funding 

level. The FY 2022 Budget includes increases in funding for both the Technology Center and 

Research and Analysis Center (RAC). The increased funding will assist these offices as they 

continue to build out their infrastructure in support of OFR’s legislative mandate under the 

Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (P.L. 111-203). 

Department of the Treasury - Budget in Brief 95 Non-Appropriated Accounts - Bureau Program Detail
Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2021 Estimate 128 $72,181 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $1,051 

FERS Contribution Increase 0 $276 

Non-Pay 0 $775 

Non-Recurring Costs 0 ($2,651) 

Subtotal Changes to Base 0 ($1,600) 

FY 2022 Current Services 128 $70,581 

Program Changes: 

Program Increases: 17 $4,690 

Increased Staffing 17 $4,690 

Subtotal Program Changes 17 $4,690 

FY 2022 Estimate 145 $75,271 

Note: The assessments, recoveries, interest and FTE estimates in the table above differ from the amounts in the 2022 President’s Budget. 

This difference is primarily due to adjustments made subsequent to the Appendix submission to account for lower interest income, 

higher-than-anticipated recoveries and anticipated carryover funding from FY 2020 to FY 2021, as well as slower than anticipated hiring. 

Budget Adjustments 

Maintaining Current Levels (MCLs) ......................................................+$1,051,000 / +0 FTE 

FERS Contribution Increase +$276,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$775,000 / +0 FTE 

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

equipment. 

Non-Recurring Costs................................................................................-$2,651,000 / +0 FTE 

Non-Recurring Costs -$2,651,000 / +0 FTE 

The OFR’s FY 2022 request redirects non-labor cost savings from Operations and 

Administrative Support Services that included non-recurring investments as part of the OFR’s 

migration to a cloud-based infrastructure and short-term initiatives in FY 2021. 

Program Increases ....................................................................................+$4,690,000 / +17 FTE 

Increased Staffing +$4,690,000 / +17 FTE 

The FY 2022 staffing model continues the OFR’s planned recruitment that came out of its 

reshaping; the OFR will bring its workforce up to the targeted 145 FTE. This includes 6 

additional FTEs in the Research and Analysis Center to support long-term research and 

monitoring initiatives. It also includes 6 FTEs within the Technology Center and 5 FTEs within 

the Operations Division to support the IT and operational support infrastructure needed for the 

OFR’s research and data efforts. Funds are also requested for anticipated increases to labor costs 

to include merit pay increases for qualifying current staff. 

Department of the Treasury - Budget in Brief 96 Non-Appropriated Accounts - Bureau Program Detail
Legislative Proposals 

The OFR has no legislative proposals. 

Performance Highlights 

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Data Center 

Number of LEIs Issued 

Cumulatively in the United States 

and Internationally 

 1,300,832 1,487,695 1,733,473 I I 

Data Center 

Number of Times That Financial 

Data Standards are Incorporated 

in Rules and Regulations 

4 1 3 I I 

Key: I – Indicator

Description of Performance 

During FY 2020, the number of Legal Entity Identifiers (LEIs) issued continued its upward 

trend, increasing by approximately 16 percent from the prior year. The Data Center will 

continue its strategy of engagement with financial data standards-setting organizations. 

Additionally, in FY 2020 the OFR saw an uptick in rules that incorporate use of financial data 

standards, with two final rules and a rule change that covered the LEI, among other matters. 

In addition to its LEI work, the OFR is continuing to fulfill its data-related mandates through 

an array of initiatives, including publication of a new daily data release on transactions in the 

$4 trillion market for U.S. centrally-cleared repurchase agreements (repos), which provide 

funding to securities dealers and others. The Technology Center will continue making 

enhancements to the data series into the next fiscal year and beyond, including validation and 

transformation of the collected data to support business uses. This budget request provides for 

the needed capacity and capabilities to support this critical daily collection. 

The OFR is also focusing on engaging with FSOC and others to drive its research agenda and to 

help identify the tools needed for risk monitoring. The Research and Analysis Center will also 

work on enhancing its existing monitoring tools. Throughout FYs 2021 and 2022, the Research 

and Analysis Center will continue its direct work for the FSOC Secretariat, providing support for 

the FSOC’s annual report to Congress in the form of research, analysis, and other resources. The 

Center will contribute to the FSOC’s transition to an activities-based approach for the non-bank 

designation process and will continue to respond to specific requests for research and analysis. 

The Center also provides subject-matter experts to FSOC committees and working groups, and 

routinely collaborates on policy evaluation and financial research with staff from FSOC member 

agencies. Staffers frequently make presentations of their research and analysis to FSOC 

committees, such as the Systemic Risk Committee. 

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Department of the Treasury - Budget in Brief 98 Non-Appropriated Accounts - Bureau Program Detail
Financial Stability Oversight Council 

Program Summary by Budget Activity

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Actual Estimated Estimated $ Change % Change 

FSOC $6,370 $6,000 $6,520 $520 8.67% 

FDIC $4,451 $4,451 $4,301 ($150) -3.38% 

Total Cost of Operations $10,821 $10,451 $10,821 $370 4% 

Direct FTE 15 18 21 3 16.67% 

Total Full-time Equivalents (FTE) 15 18 21 3 16.67% 

Note: The amounts of obligations and FTEs for 2021 in the table above differ from the amounts in the 2022 President’s Budget. This difference is 

primarily due to adjustments in anticipated spending for FSOC related to lags in hiring due to the COVID-19 pandemic and other factors efforts. 

Summary

The Financial Stability Oversight Council (FSOC or Council) is chaired by the Secretary of the 

Treasury and consists of 10 voting members and five nonvoting members who serve in an 

advisory capacity. The Council brings together the expertise of the federal financial regulators, 

an insurance expert appointed by the President, and state regulators. The Council’s three 

statutory purposes are to identify risks to the financial stability of the United States, promote 

market discipline, and to respond to emerging threats to the stability of the U.S. financial system. 

The Council has a statutory duty to facilitate information sharing and coordination among the 

member agencies regarding domestic financial services policy development, rulemaking, 

examinations, reporting requirements, and enforcement actions. 

The Financial Stability Oversight Council (FSOC or Council) is estimating a fiscal year FY 2022 

funding level of $10.821 million, which is an increase of $0.370 million from the FY 2021 

estimated funding level. This request includes $6.520 million for the FSOC Secretariat and the 

Office of the Independent Member with Insurance Expertise, and $4.301 million to reimburse the 

Federal Deposit Insurance Corporation (FDIC) for certain expenses as required by law. On 

March 31, 2021, the Council re-established the Hedge Fund Working Group to share data, 

identify risks and address potential issues related to hedge funds. The Council also committed to 

the coordination of regulators’ efforts to improve the measurement and management of climaterelated risks in the financial system as the country transitions to a net-zero carbon economy. 

 

Department of the Treasury - Budget in Brief 99 Non-Appropriated Accounts - Bureau Program Detail
Budget Highlights

Note: The amounts of obligations and FTEs for 2021 in the table above differ from the amounts in the 2022 President’s Budget tables. This 

difference is primarily due to adjustments in anticipated spending for FSOC related to lags in hiring due to the COVID-19 pandemic and other 

factors efforts.

Budget Adjustments

Maintaining Current Levels (MCLs)........................................... +$233,000 / +0 FTE

Pay Annualization +$9,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$72,000 / +0 FTE

Funds are requested for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$14,000 / +0 FTE

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

effective FY 2022. 

Non-Pay +$139,000 / +0 FTE

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

and equipment. 

Efficiency Savings..................................................................... -$190,000/ +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. 

 

FTE Amount

FY 2021 Estimate 18 $10,451

Changes to Base:

Maintaining Current Levels (MCLs): 0 $233

Pay Annualization (1.0% average pay raise) 0 $9

Pay Raise (2.7% average pay raise) 0 $72

FERS Contribution Increase 0 $14

Non-Pay 0 $139

Efficiency Savings 0 ($190)

Subtotal Changes to Base 0 $43

FY 2022 Current Services 18 $10,494

Program Changes:

Program Decreases 0 ($150)

FDIC Cost Adjustment 0 ($150)

Program Increases: 3 $477

FTE Adjustment 3 $477

FY 2022 Estimate 21 $10,821

Dollars in Thousands

Department of the Treasury - Budget in Brief 100 Non-Appropriated Accounts - Bureau Program Detail
Program Decreases .............................................................. -$150,000 / +0 FTE

FDIC Cost Adjustment -$150,000 / +0 FTE

Cost decrease for FDIC reimbursable expenses. FDIC reimbursable expenses for FY 2022 are 

estimated at a commensurate level with FY 2019, which reflects a slight decrease from FY 2021. 

Program Increases ...............................................................+$477,000 / +3 FTE

FTE Adjustment +$477,000 / +3 FTE

The Secretariat expects to hire additional staff early in FY 2021, bringing total Secretariat and 

Office of the Independent Member staff from its current level of 15 onboards to 21 onboards. 

Legislative Proposals 

The FSOC does not have any legislative proposals at this time. 

Description of Performance

While there are no measures specified for managing Council performance, over the last year, the 

Council continued to identify and monitor potential risks to U.S. financial stability; fulfilled its 

statutory requirements, including transmission of its ninth annual report to Congress; and served 

as a forum for coordination among member agencies. 

The Council has a statutory duty to facilitate information sharing and coordination among the 

member agencies regarding domestic financial services policy development, rulemaking, 

examinations, reporting requirements, and enforcement actions. 

Over the next year, the Council will continue to: monitor the financial system for emerging risks; 

facilitate interagency cooperation to identify and analyze emerging threats; and facilitate 

information sharing and interagency coordination with respect to various regulatory initiatives. 

By law, the Council is required to convene no less than quarterly, but the Council has convened 

on a more frequent basis to share information on key financial developments, coordinate regulatory 

implementation, and monitor progress on recommendations from the Council’s annual reports. In 

FY 2020, the Council convened five times. The Council will continue to remain focused on 

identifying near-term threats and addressing structural vulnerabilities in the financial system. 

Transparency into Council work has routinely been provided through an annual report to Congress, 

periodic Congressional testimony on Council activities and emerging threats to financial stability, 

and regular communications with the public about Council activities and decisions. 

Department of the Treasury - Budget in Brief 101 Non-Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 102 Non-Appropriated Accounts - Bureau Program Detail
Treasury Franchise Fund 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2020 to FY 2021 

Budget Activity 

Actuals Revised 

Estimate 

Estimate $ Change % Change 

Treasury Shared Services Program 284,298 299,891 314,318 14,427 4.8% 

Centralized Treasury Administrative Services 121,771 135,203 145,848 10,645 7.9% 

Administrative Support Services 220,180 194,856 211,308 16,452 8.4% 

Information Technology Services 222,547 217,473 221,670 4,197 1.9% 

Subtotal, Treasury Franchise Fund $848,796 $847,423 $893,144 $45,721 5.4% 

Offsetting Collections - Reimbursable 838,745 806,022 857,079 51,057 6.3% 

Recovery from Prior Years 9,472 24,016 22,815 (1,201) -5.0% 

Unobligated Balances Brought Forward 211,208 210,629 193,244 (17,385) -8.3% 

Total Program Operating Level $1,059,425 $1,040,667 $1,073,138 $32,471 3.1% 

Reimbursable FTE 2,069 2,154 2,219 65 3.0% 

Total Full-time Equivalents (FTE) 2,069 2,154 2,219 65 3.0% 

*The Financial Management Administrative Support Service and Shared Services Programs, as denoted in the President’s budget is also 

referred to as the Administrative Services and Treasury Shared Services Program, respectively. 

Summary 

The Treasury Franchise Fund (TFF) supports effective administrative and information 

technology services through commitment to service, efficient operations, openness to change, 

and values-based behavior. The TFF achieves cost savings leveraging economies of scale which 

promote efficient use of resources by shared service providers. 

The TFF providers include Departmental Offices’ Treasury Shared Services Programs (TSSP), 

Departmental Offices’ Centralized Treasury Administrative Services (CTAS), and the Bureau of 

the Fiscal Service’s Administrative Resource Center (ARC). TFF shared service providers offer 

financial management, procurement, travel, human resources, information technology, and other 

administrative services to federal customers on a fully cost recoverable, fee-for-service basis. 

The TFF FY 2022 Congressional Justification reflects revised estimates for FY 2021 along with 

new funding estimates for FY 2022. The revised estimates in FY 2021 for ARC Admin includes 

an increase operations and maintenance costs to support an expanded customer base. The 

revised estimates will also support ARC IT’s continued modernization efforts of the bureau’s IT 

infrastructure and technology service delivery (to include cloud adoption and low-code platform 

solutions) implementing enterprise-scale foundational and common technology services, and 

continuing to enhance IT portfolio management practices and the cybersecurity posture across 

the enterprise. The Centralized Treasury Administrative Services (CTAS) programs will reduce 

the FY 2021 operating levels to more accurately reflect the level of administrative support 

services provided for the Foreign Investment Risk Review Modernization Act (FIRRMA) 

initiatives, Departmental Offices (DO) Salaries and Expenses and Terrorism and Financial 

Intelligence offices. 

In FY 2022, the Treasury Shared Services (TSSP) programs will continue to support efforts in 

cybersecurity with the additional operations and maintenance costs transferred for initiatives 

developed under the Cybersecurity Enhancement Account (CEA). These cybersecurity 

Department of the Treasury - Budget in Brief 103 Non-Appropriated Accounts - Bureau Program Detail
initiatives will be deployed and implemented as a shared service provided to Treasury bureaus. 

TSSP will also focus on system modernization investments, IT reporting through Technology 

Business Management (TBM) and continuous improvement of baseline level services support. 

In FY 2022, the US Department of Agriculture (USDA) customers are expected begin 

transitioning to ARC for financial management (FM) services. In addition, ARC will continue to 

progress through a strategic project to continue simplifying customer FM services, increase 

customer FM maturity and public trust, maximize ARC value, and further emphasize law, 

regulations, and federal mandates. These initiatives will allow agencies to focus on mission 

activities and ensure cost sharing opportunities are accessible. 

Budget Highlights

Dollars in Thousands 

 FTE Amount 

FY 2021 President's Budget Estimate 

 

2,112 $869,321 

Adjustments to FY 2021 PB 42 (21,898) 

 Administrative Initiatives Adjustments (CTAS) 0 (27,059) 

 Increased Personnel Resources/IT Support (ARC Admin/IT) 42 5,161 

FY 2021 Revised Estimate 

 

2,154 $847,423 

Changes to Base: 

Maintaining Current Levels (MCLs): 20,192 

Pay Annualization (1.0% average pay raise) 667 

Pay Raise (2.7% average pay raise) 5,420 

FERS Contribution Increase 2,058 

Non-Pay 12,047 

Subtotal Changes to Base 0 20,192 

FY 2022 Current Services 2,154 $867,615 

Program Changes: 

Program Increases: 65 25,529 

Cybersecurity Enhancement Account (CEA) Operations and Maintenance 

(TSSP) 0 5,254 

 Systems Modernization and Program Support (TSSP) 0 2,108 

 Continuous Diagnostic and Mitigation (CDM) Licenses (TSSP) 0 1,184 

 Systems Modernization (CTAS) 0 5,662 

 Electric Vehicles and Associated Infrastructure (CTAS) 0 304 

Customer Growth (ARC Admin) 35 6,017 

FSSP Consolidation (ARC Admin) 30 5,000 

Subtotal Program Changes 65 $25,529 

Total FY 2022 Estimate 

 

2,219 $893,144 

Department of the Treasury - Budget in Brief 104 Non-Appropriated Accounts - Bureau Program Detail
Budget Adjustments 

FY 2021 Adjustments........................................................... -$21,898,000/ +42 FTE 

Centralized Treasury Administrative Services (CTAS) -$27,059,000 / -0 FTE 

In FY 2021, the adjustments for administrative support include the following: 

Administrative Support Reduction for FIRRMA -$20,632,000 / 00 FTE 

Reductions to the planned level of administrative support resulting in a decrease to 

administrative costs necessary to support the Foreign Investment Risk Review Modernization 

Act (FIRMMA) initiatives: 

 Case management (-$13,378,000) 

 Facilities (-$4,800,000) 

 Personnel (-$2,454,000) 

DO and TFI -$6,427,000 / -0 FTE 

Reductions in administrative support for DO that were realized in FY 2020 and carry through 

to FY 2021. This includes reduced level of support for initiatives within DO Salaries and 

Expenses and the Office of Terrorism and Financial Intelligence (TFI). 

Increased Personnel Resources/IT Support (ARC Admin/IT) +$5,161,000 / +42 FTE 

In FY 2021, the adjustments for the ARC Admin and IT budgets include the following: 

ARC Admin +$4,684,000 / +29 FTE 

Revised FY 2021 estimates includes adjustments for human resources staffing required to 

meet critical workforce demands of customers. Without these resources, customers will 

experience delays in hiring, impacting mission success. 

ARC IT +$477,000 / +13 FTE 

In FY 2021, new service offerings and systems were added, offset by the transition of the 

Oracle hosting contract to ARC Admin. The increase will support technology modernization, 

implementation of an on-premise cloud environment, and increased investment in Cyber 

Security measures that will protect the National Critical Financial Infrastructure. 

Maintaining Current Levels (MCLs)......................................... +$20,192,000 / +0 FTE 

Pay Annualization (1.0%) +$667,000 / +0 FTE: 

Funds are required for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$5,420,000 / +0 FTE: 

Funds are required for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$2,058,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$12,047,000 / +0 FTE 

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

equipment. 

Department of the Treasury - Budget in Brief 105 Non-Appropriated Accounts - Bureau Program Detail
Program Increases.............................................................. +$25,529,044 / +65 FTE 

Cybersecurity Enhancement Account (CEA) Operations and Maintenance (O&M) (TSSP) 

+$5,253,742 / +0 FTE 

Treasury will increase TSSP by $5.26 million to support the transition of the operations and 

maintenance costs from CEA investments to TSSP. The total FY 2022 estimated spending 

transitioned into TSSP since FY 2020 will be $16.48 million including this increase. The FY 

2022 increase will support the operations and maintenance costs for the following initiatives: 

 Fiscal Service Trusted Internet Connection (TIC) (+$3,622,676) 

 Treasury Identity Enterprise Services (+$857,000) 

 Treasury Secured Data Network (+$592,226) 

 Threat Hunting Analysis (+$181,840) 

Systems Modernization and Program Support (TSSP) +2,108,498 / +0 FTE 

Treasury will increase spending to support the system modernization and enhancements across 

TSSP programs to include: 

 O&M costs for the TBM tool that was implemented in FY 2021 (+$1,198,000) 

 Enterprise Data Management Cloud Support (+$581,250) 

 Automation of the change management process (+$374,248) 

 Enhancements for the Equal Employment Opportunity complaint tracking system 

(+$336,000) 

Continuous Diagnostic and Mitigation (CDM) Licenses (TSSP) +$1,184,000 / +0 FTE 

The FY 2022 increase in costs for CDM licenses is $1.184 million for Phase II in support of the 

CEA O&M initiatives transitioning into TSSP. These licenses are provided by the Department of 

Homeland Security (DHS) with the costs allocated to the Treasury bureaus through the TSSP. 

The CDM Program enhances the overall security posture of the Federal Government by 

providing Federal agencies with capabilities to monitor vulnerabilities and threats to their 

networks in near real-time. This increased situational awareness allows agencies to prioritize 

actions to mitigate or accept cybersecurity risks based on an understanding of the potential 

impacts to their mission. Total spending for FY 2022 is estimated at $13.284 million. 

Systems Modernization (CTAS) +$5,662,000 / +0 FTE

IT Modernization investment of $5.7 million will support increase spending for critical lifecycle 

upgrades and enhancements to modernize the DO IT infrastructure and IT server replacements. 

The following projects are included in this initiative:

 End User Equipment Lifecycle – Asset refresh of end of life end equipment (i.e., laptops, 

desktops, zero clients, etc.) and migrate service 

 Telework Workforce Enhancements – Hardware and software hardware/software to support 

efficiency and mission achievement in telework paradigm. 

 Video Teleconferencing – Increased software licenses, support, and services for DO web 

conferencing 

 Managed Remote Access - Transition from government owned and operated to managed 

service remote access for DO user community 

 Managed Desktop/Virtual Desktop Infrastructure (VDI) - Transition from government owned 

and operated virtual desktop infrastructure to managed service 

 IT Server Replacement - In FY 2022, Treasury will replace IT servers that have reached end 

Department of the Treasury - Budget in Brief 106 Non-Appropriated Accounts - Bureau Program Detail
of life. These servers support majority of IT operations and the daily workload within DO. 

By FY 2022, over 120 of these critical servers of will no longer receive vendor support and 

will no longer receive updates, which put critical IT components at risk of failure or breach. 

Cloud migration assessments for these servers have been conducted and results have helped 

to identify servers that can be moved to the cloud and replacement servers that support 

workloads not yet cloud ready. Re-capitalization of servers represents the majority of costs 

incurred, in addition to additional anticipated operational expenses associated with cloud 

computing. 

Electric Vehicle Fleet Management (CTAS) +$304,000 / +0 FTE 

In accordance with Executive Order (E.O.) 14008, “Tackling the Climate Crises at Home and 

Aboard”, Treasury will support the Administration’s priority to develop a comprehensive plan to 

create good jobs and stimulate clean energy industries by revitalizing the Federal Government’s 

sustainability efforts. This includes Treasury’s commitment to use all available procurement 

authorities to augment its Departmentwide fleet management program with a continued focus on 

the purchase and/or leasing of electric vehicles (EV) and its essential infrastructure. 

Currently, DO has a total of 14 vehicles in its fleet, five are EVs. In FY 2022, this investment of 

$304,000 will fund the full conversion of its fleet and the purchase, installation, maintenance, 

and/or upgrade of infrastructure required to maintain an EV fleet management program. 

Customer Growth (ARC Admin) +$6,017,000 / +35 FTE 

Increase reflects operations and maintenance costs and provides cost sharing and avoidance 

opportunities for both the new and current agencies supported by ARC. In FY 2021, ARC 

expanded services with Corporation for National and Community Service (CNCS) and the 

Special Inspector General for Pandemic Recovery (SIGPR). In FY 2022, ARC will expand 

supported shared services transitions for the Office of Personnel Management (OPM) and limited 

new services to the Federal Emergency Management Administration (FEMA). 

Financial Shared Service Provider (FSSP) Consolidation (ARC Admin) +$5,000,000 / +35 FTE 

In FY 2021, portions of USDA’s shared service customer base will be merged into ARC 

operations as USDA is planning to discontinue their shared services operations in response to 

OMB M-19-16. ARC plans to maintain financial management services for current USDA and 

General Services Administration (GSA) customers. 

Legislative Proposals 

The TFF does not have legislative proposals. 

. 

Department of the Treasury - Budget in Brief 107 Non-Appropriated Accounts - Bureau Program Detail
Performance Highlights FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Treasury Shared Services 

Programs Average Cost per FTE N/A 1463.5 1460.0 1580.3 1710.5 

Treasury Shared Services 

Programs Annual Effective Spend Rate N/A 97.1 96 96 96 

Treasury Shared Services 

Programs Customer Satisfaction N/A 75 80 80 80 

Centralized Treasury 

Administrative Services Annual Effective Spend Rate N/A 97.8 97.8 96 96 

Centralized Treasury 

Administrative Services Customer Satisfaction N/A 75 75 80 80 

Administrative Support 

Services Customer Unmodified Audit Opinions [%] 100 100 100 100 100 

Administrative Support 

Services 

Percentage of shared services service level 

agreement performance metrics met or 

exceeded [%] 

NA 89 86.7 94 94 

Administrative Support 

Services 

Customer Satisfaction with ARC Admin 

Services [%] NA 93.2 90.4 80 80 

Information Technology 

Services 

Fiscal IT Hosting – Percentage of Time 

Service is Operational (Uptime Excluding 

Planned Maintenance) 

99.8 99.6 99.0 DISC DISC 

Information Technology 

Services 

Number of engagements in strategic 

sourcing, to include new IT customers, new 

scope of work for existing customers, or 

new FITARA compliant contracts available 

beyond Fiscal Service [#] 

1 1 3 DISC DISC 

Information Technology 

Services 

% of IT Portfolio (TFF) Software and 

Hardware Currency N/A N/A N/A B 

Information Technology 

Services 

% of On-Premise Target Service Level 

Agreements Met N/A N/A N/A B 

Key: B -Baseline; DISC- Discontinued 

Description of Performance 

The TSSP annual effective spend rate relates to the financial management and oversight of the 

program. It gives insight into the how much of the resources collected from customers are being 

obligated for service delivery in the fiscal year. In FY 2020, 98.4 percent of the funds collected 

from customers for the shared services was obligated which was above the 96 percent target rate 

set for the fiscal year. 

In FY 2020, the TSSP survey results yielded a 90 percent overall customer satisfaction rating for 

services provided through the TSSP. Planned efforts to achieve this higher rating for customer 

satisfaction going forward will focus on identifying more opportunities for customer engagement 

and improved customer feedback mechanisms. 

The CTAS FY 2020 annual effective spend rate was 97.8 percent, which was above the set target 

rate of 96 percent. The customer satisfaction rate was baselined in FY 2019. Results from a 

survey released in FY 2020, garnered a 75 percent satisfaction rating for the overall program. 

In FY 2020, ARC Admin met performance metrics with the exception of Percentage of Service 

Level Agreement Performance Metrics. This can be attributed to new staff onboarding. ARC has 

worked to strengthen new employee training. ARC continues to work with customer agencies to 

understand the changes thereby enabling them to align resources to support the demand. 

Department of the Treasury - Budget in Brief 108 Non-Appropriated Accounts - Bureau Program Detail
In FY 2020, ARC IT’s hosting performance was 99.9 percent uptime, which exceeded the 

measure target of 99.0. ARC IT also exceeded the target for number 2 engagements in strategic 

sourcing and achieve increased service levels. 

Department of the Treasury - Budget in Brief 109 Non-Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 110 Non-Appropriated Accounts - Bureau Program Detail
Treasury Forfeiture Fund 

Program Summary by Budget Activity 

Dollars in Thousands 

Treasury Forfeiture Fund FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budgetary Resources Actual Estimated Estimated $ Change % Change 

 FTE 1 AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT 

Revenue/Offsetting Collections 

Interest $18,565 $25,000 $25,000 $0 NA 0.00% 

Restored Prior Year 

Sequestration Reduction $54,340 $30,294 $32,609 $2,315 NA 7.64% 

Forfeited Revenue $494,893 $547,096 $547,096 $0 NA 0.00% 

Recovery from Prior Years $32,358 $12,000 $12,000 $0 NA 0.00% 

Unobligated Balances from 

Prior Years $609,632 $691,453 $717,902 $26,449 NA 3.83% 

Total Revenue/Offsetting 

Collections $1,209,788 $1,305,843 $1,334,607 0 $28,764 NA 2.20% 

Expenses/Obligations 

Mandatory Obligations 27 ($465,205) 27 ($445,332) 27 ($445,332) 0 $0 0.00% 0.00% 

Secretary's Enforcement ($22,836) ($35,000) ($35,700) ($700) NA 2.00% 

Strategic Support 2 $0 TBD TBD NA NA NA 

Total Expenses/Obligations 27 ($488,041) 27 ($480,332) 27 ($481,032) 0 ($700) 0.00% 0.15% 

Rescissions/Cancellations 

Sequestration Reduction ($30,294) ($32,609) ($32,609) NA NA NA 

Permanent Cancellation $0 ($75,000) $0 $75,000 NA -100.00% 

Total Rescission/Cancellations ($30,294) ($107,609) ($32,609) $75,000 NA -69.69% 

Net Results 27 $691,453 27 $717,902 27 $820,966 0 $103,064 0.0% 14.36% 

 

Contingent Liabilities ($512,764) ($465,000) ($465,000) $0 NA 0.00% 

1/ The Treasury Forfeiture Fund is staffed by Departmental Offices employees and positions are funded via reimbursable agreement. The FTE are shown 

here for clarity but are also reflected in the Departmental Offices chapter in the reimbursable FTE total. 

2/ For FY 2021 and FY 2022, Treasury will revise Strategic Support based on enacted appropriations and may submit a plan to Congress if funding is 

available, once more is known about collections and expenses. 

Summary 

The Treasury Executive Office for Asset Forfeiture (TEOAF) administers the Treasury 

Forfeiture Fund (the Fund), which is the receipt account for deposit of non-tax forfeitures made 

pursuant to laws enforced or administered by participating Department of the Treasury and 

Department of Homeland Security agencies. The Fund was established in 1992. The enabling 

legislation for the Fund (Title 31 U.S.C. 9705) defines the purposes for which Treasury forfeiture 

revenue may be used. 

Explanation of TEOAF Spending Categories 

Mandatory Obligations ($445,332,000 from revenue/offsetting collections)

Mandatory Obligations are incurred to meet the operating costs of the Fund, including expenses 

of storing and maintaining seized and forfeited assets, valid liens and mortgages, investigative 

expenses incurred in pursuing a seizure, information and inventory systems, remissions, victim 

restoration, and certain costs of local police agencies incurred in joint law enforcement 

Department of the Treasury - Budget in Brief 111 Non-Appropriated Accounts - Bureau Program Detail
operations. Following seizure, equitable shares may be paid to state and local law enforcement 

agencies that contributed to the seizure activity at a level proportionate to their involvement. 

TEOAF allocates significant resources to supporting seizure cases in which the seized assets 

represent the proceeds of fraud schemes. The resulting forfeiture deposits are used to compensate 

the victims (entities or individuals) defrauded by the violators. Prioritizing support of these cases 

is particularly important now due to the volume of COVID-19 related financial fraud, network 

intrusion, phishing and sales of counterfeit vaccines and COVID treatments online and via 

Darknet marketplaces. TEOAF provides funding to allow its participating agencies to meet 

unanticipated needs created by COVID-19 related crimes, to ensure that the agencies have the 

resources to target and intercept these massive schemes and return the money to the defrauded 

government agencies, private entities and individuals. 

Secretary's Enforcement Fund ($35,700,000 from revenue/offsetting collections) 

Secretary's Enforcement Fund (SEF) represents revenue from equitable shares received from 

Department of Justice (DOJ) or U.S. Postal Service (USPS) forfeitures. These shares are 

proportional to Treasury’s participation in the overall investigative effort that led to a DOJ or 

USPS forfeiture. SEF revenue is available for federal law enforcement related purposes of any 

law enforcement organization participating in the Fund. 

Strategic Support (TBD from revenue/offsetting collections) 

Strategic Support authority, established in 31 U.S.C. 9705(g)(4)(B), allows TEOAF to fund 

priority Federal law enforcement initiatives with remaining unobligated balances at the close of 

the fiscal year, after an amount is reserved for the next fiscal year’s operations. 

Contingent Liabilities ($465,000,000 revenue/offsetting collections) 

Contingent liabilities represent the known future equitable sharing, remission, refund, and 

mitigation payments. TEOAF tracks future remission payments to third parties as contingent 

liabilities. However, these amounts are not recorded as obligations from the Fund until the 

Department of Justice grants the petition for remission. The third parties are predominantly 

victims of crimes that triggered the forfeiture (e.g., Ponzi scheme or kleptocracy victims). 

Amounts recorded are significant because remission payments from multiple years are recorded 

and carried forward. The amounts change constantly as payments are made and amounts for new 

remission cases are added. TEOAF considers the amounts recorded as contingent liabilities as 

unavailable and consideration of contingent liabilities provides a more accurate representation of 

the financial position of the Fund. 

Legislative Proposals 

TEOAF has no legislative proposals. 

Department of the Treasury - Budget in Brief 112 Non-Appropriated Accounts - Bureau Program Detail
Performance Highlights 

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Asset Forfeiture 

Fund 

Percent of Forfeited Cash Proceeds Resulting 

from High-Impact Cases 94.19 90.8 82.87 80 80 

Description of Performance 

($481,032,000 in obligations from revenue/offsetting collections): 

The TEOAF continues to measure the performance of the participating law enforcement bureaus 

through the percent of forfeited cash proceeds resulting from high impact cases which are cases 

resulting in a cash forfeiture deposit equal to or greater than $100,000. 

The high-impact cases are cases that pursue major criminal targets and their financial networks, 

and therefore are central to the mission of disrupting and dismantling criminal enterprises. At the 

same time, these cases are heavily dependent on TEOAF’s funding due to their high operational 

costs and reliance on sophisticated technologies and analytical tools that are not adequately 

covered by the funds appropriated for operations. The dominant share of high-impact forfeitures 

reflects TEOAF’s effectiveness in supporting such major investigations. 

While the specific numbers shown in the chart fluctuate due to the unusually big forfeitures, the 

consistently dominant (80 percent or more) share of major forfeiture year after year demonstrates 

TEOAF’s consistent commitment to supporting high-impact cases. Member law enforcement 

bureaus participating in the Fund have met or exceeded the performance target since FY 2014. 

For FY 2021 and FY 2022, the target will remain at 80 percent. The Fund maintains a target of 

80 percent as an appropriate measure of the effectiveness of the Fund support of the participating 

law enforcement agencies efforts to meet TEOAF’s mission to disrupt and dismantle criminal 

enterprises.

Department of the Treasury - Budget in Brief 113 Non-Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 114 Non-Appropriated Accounts - Bureau Program Detail
Bureau of Engraving and Printing 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to 

FY 2022 

Budget Activity Actual Revised Estimate Estimate % Change 

Manufacturing $873,561 $1,039,054 $1,047,205 0.78% 

DC Replacement Facility $5,050 $29,940 $897,048 2896.15% 

Total Cost of Operations $878,611 $1,068,994 $1,944,253 81.88% 

Full-time Equivalents (FTE) 1,740 1,863 1,863 0.00% 

 

Summary 

The mission of the Bureau of Engraving and Printing (BEP) is to develop and produce United 

States currency notes trusted worldwide. 

BEP’s FY 2022 request funds the following projects: 

1. Replacement Production Facility: In FY 2019, BEP received legislative authority to acquire 

land and fund construction of a more efficient production facility to replace BEP’s current aging 

Washington, D.C. facility. Additionally, a provision of the 2018 Farm Bill authorizes the 

transfer of a U.S. Department of Agriculture (USDA) land parcel in Beltsville, Maryland to the 

Department of the Treasury to be the site for BEP’s replacement production facility. BEP is 

conducting a suitability assessment of the site with support from the U.S. Army Corps of 

Engineers. The property transfer Memorandum of Agreement (MOA) between USDA and 

Treasury was finalized in early 2020. The formal transfer of administrative control from USDA 

to Treasury is anticipated in late 2021. A replacement facility will save an estimated $579 

million over 10 years, as compared to the cost of the renovation of the existing facility. In 

addition, BEP will reduce its annual operating costs by at least $38 million through production, 

material handling, and other operational/support efficiencies. 

In 2021, BEP plans to begin early site development construction activities estimated at $30 

million to include the removal of hazardous building materials, demolition of twenty-two former 

agriculture research buildings and minor utility system relocations to support the BEP 

development. Contracts for this work will be awarded in late summer 2021. FY 2022 funding in 

the amount of $897 million will include the award of the construction contract for the 

replacement facility. Specifically, it will fund the structure of the building. The contract will 

cover the construction of a smaller, more efficient facility to support current and future 

manufacturing processes.

2. Western Currency Facility Expansion: BEP began expanding the Western Currency Facility 

(WCF) in FY 2018 to house and support the new equipment required for the next generation of 

currency design. Producing the next family of updated notes requires that BEP purchase and 

install new production equipment to support the new designs. The expansion will provide the 

space and infrastructure necessary to successfully meet the production requirements of the next 

family of U.S. currency banknotes that focus on the integration of strong, new security features. 

The expansion work is expected to be completed in FY 2022. The FY 2022 projected cost for the 

WCF is $1 million for construction close-out activities. 

Department of the Treasury - Budget in Brief 115 Non-Appropriated Accounts - Bureau Program Detail
3. Banknote Design and Development: In FY 2022, BEP will continue to work on this multi-year 

project with the Federal Government’s Advanced Counterfeit Deterrent (ACD) Steering 

Committee to research and develop improved security features for the next family of updated 

notes. The ACD Committee is an inter-agency group established to monitor and explore existing 

and emerging technologies to deter the counterfeiting of U.S. currency. It includes 

representatives from BEP, the Department of the Treasury, the U.S. Secret Service, and the 

Federal Reserve Board (FRB). The updated notes will focus on innovative banknote security 

and anti-counterfeit technology that will enhance and ensure the security and integrity of U.S. 

currency. While many factors are taken into consideration when updating currency, the primary 

purpose for updating notes is to improve the security of U.S. banknotes and ensure they maintain 

their position as being trusted worldwide. 

4. Retooling: BEP is conducting a multi-year effort to retool its manufacturing processes with stateof-the-art intaglio printing presses, electronic inspection systems, and finishing equipment. To 

ensure that BEP will meet the annual currency order, the FRB and BEP developed short, 

medium, and long-term strategic equipment replacement plans for the U.S. Currency Program. 

Successful implementation of advanced technology improves productivity, reduces 

environmental impact, and enhances counterfeit deterrence of U.S. currency notes. 

5. Human Capital/Talent Management: The BEP will continue its designated talent 

management initiatives, while filling personnel gaps in needed STEM and cybersecurity skill 

sets. Throughout FY 2021, BEP will rebrand employee engagement by educating the 

workforce on important engagement topics, reevaluating the current Engagement Strategy, 

recruiting new volunteers to implement the engagement initiatives, and promoting direct 

communications with BEP executive leadership to reinforce that their voices are heard. BEP 

will also continue to develop, execute, and communicate the results of Employee 

Engagement Plans and the annual Federal Employee Viewpoint Survey (FEVS) results. 

Department of the Treasury - Budget in Brief 116 Non-Appropriated Accounts - Bureau Program Detail
Budget Highlights 

Dollars in Thousands 

 FTE Materials Operating 

& Capital Total 

FY 2021 Original Estimate 1,863 $248,921 $638,479 $887,400 

Program Changes 

Program Increases 0 140,079 41,515 181,594 

Currency Program (6.8B to 7.6B) 0 120,079 41,515 161,594 

Currency Paper Production COOP 0 20,000 0 20,000 

Subtotal Program Changes 0 140,079 41,515 181,594 

FY 2021 Revised Estimate 1,863 $389,000 $679,994 $1,068,994 

Changes to Base 

Maintaining Current Levels (MCLs) 0 5,278 11,145 16,423 

Pay Annualization (1.0% average pay raise) 0 0 726 726 

Pay Raise (2.7% average pay raise) 0 0 5,894 5,894 

FERS Contribution Increase 0 0 2,010 2,010 

Non-Pay 0 5,278 2,515 7,793 

Subtotal Changes to Base 0 5,278 11,145 16,423 

FY 2022 Current Services 1,863 $394,278 $691,139 $1,085,417 

Program Changes 

Program Decreases 0 (20,000) (25,247) (45,247) 

Currency Paper Production COOP 0 (20,000) 0 (20,000) 

Facilities Support 0 0 (4,890) (4,890) 

Manufacturing Support 0 0 (10,512) (10,512) 

WCF Building Expansion 0 0 (3,770) (3,770) 

Security and Accountability 0 0 (6,075) (6,075) 

Program Increases 0 0 904,083 904,083 

Washington D.C. Replacement Facility 0 0 867,108 867,108 

Retooling 0 0 36,975 36,975 

Subtotal Program Changes 0 (20,000) 878,836 858,836 

Total FY 2022 Estimate 1,863 $374,278 $1,569,975 $1,944,253 

Budget Adjustments 

FY 2021 Adjustments 

Program Increases............................................................+$181,594,000 / +0 FTE

Currency Program +161,594,000 / +0 FTE 

This increase is to reflect the currency order commitment increase from 6.8B to 7.6B notes. 

Currency Paper Production COOP +$20,000,000 / +0 FTE 

This increase is for the one-time COOP improvement to the currency paper production. 

Maintaining Current Levels (MCLs) ......................................................+$16,423,000 / +0 FTE 

Pay Annualization (1.0%) +$726,000 / +0 FTE 

Funds are required for annualization of the January 2021 1.0% average pay raise. 

 

Department of the Treasury - Budget in Brief 117 Non-Appropriated Accounts - Bureau Program Detail
Pay Raise (2.7% in 2022) +$5,894,000 / +0 FTE 

Funds are required for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$2,010,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$7,793,000 / +0 FTE 

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

equipment. 

FY 2022 Program Decreases.................................................................... -$45,247,000 / -0 FTE 

Currency Paper Production COOP -$20,000,000 / -0 FTE 

This is a reduction for the FY21 COOP improvement to the currency paper production. 

Facilities Support -$4,890, 000 /-0 FTE 

WCF vault automated racking system and shipping roof replacement. 

Manufacturing Support -$10,512,000 /-0 FTE 

Barcoding and RFID implementation and inspection equipment. 

WCF Building Expansion -$3,770,000 / -0 FTE 

Construction will be completed in FY 2022. 

Security and Accountability -$6,075,000 / -0 FTE 

Radio system upgrade for both facilities. 

FY 2022 Program Increases...................................................................+$904,083,000 / +0 FTE 

Washington DC Replacement Facility +867,108,000 / +0 FTE 

This amount reflects the increase of planned obligation for the new DC facility for FY 2022. 

Retooling +$36,975,000 / +0 FTE 

This increase reflects the planned capital spending for Physical Vapor Deposition chrome 

system, offset press replacement and acquisition of additional Large Examining and Printing 

Equipment (LEPEs) and upgrade of existing LEPEs now in production. (LEPEs combine three 

previously separate processes of inspection, printing serial numbers and seals and final 

packaging). 

Legislative Proposals 

BEP has no legislative proposals. 

 

Department of the Treasury - Budget in Brief 118 Non-Appropriated Accounts - Bureau Program Detail
Performance Highlights 

Budget 

Activity 

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Performance Measure Actual Actual Actual Target Target 

Manufacturing Currency Notes Delivered Returned Due to 

Defects (Parts per Million) .0031ppm .09ppm .02ppm <1ppm <1ppm 

Manufacturing FEVS Satisfaction 74 74 74 >65% >65% 

Manufacturing Lost Time Accident Rate per 100 Employees 0.781 1.48 1.01 <1.8 <1.8 

Manufacturing Manufacturing Costs For Currency (Dollar 

Costs Per Thousand Notes Produced) $47.41 $50.33 $56.19 $64.33 $65.00 

1

 Lost Time Accident Rates are adjusted following adjudication of accident reports received during each fiscal year. The FY 2018 actual shown 

reflects this adjustment. 

Description of Performance 

($1,944,253,000 from reimbursable sources)

The BEP has one budget activity: Manufacturing. This budget activity supports all of BEP’s strategic 

goals. 

Description of Performance: 

Currency Notes Returned Due to Defects (in parts per million or ppm) is an indicator of BEP’s 

ability to provide a quality product. The target for this performance metric is <1 ppm. BEP was able 

to exceed the established target in FY 2020 due to improved quality assurance processes with an 

actual result of 0.02 ppm notes returned due to a defect. BEP’s target for this performance metric will 

be held constant at <1 ppm for FY 2021 and FY 2022. 

The Federal Employees Viewpoint Survey (FEVS) allows employees to share their opinion on what 

matters most to them. Based on the results of the survey, BEP can target areas for improvement or 

additional employee engagement. The measure uses the Department’s standard FEVS Satisfaction 

Index with a target of 65 percent. In FY 2021 and 2022, BEP will continue to strive for 

improvements in overall employee satisfaction. 

The Lost Time Accident Rate per 100 employees measures the BEP’s ability to reduce injuries and 

illnesses in the workplace. BEP’s FY 2020 Lost Time Accident rate was at 1.01 cases per 100 

employees, lower than the target of 1.80 cases per 100 employees. This performance resulted from 

increased focus on following safe work practices, avoiding hazards, and being a Director’s priority. 

For FY 2022, BEP remains committed to maintaining and improving the safety of its employees. 

BEP will continue to perform analysis to determine the root causes of any injury and to identify best 

practices in safety. A 1.8 case rate represents approximately one injury per facility per month, 

which is quite low. Therefore, BEP’s target will be held at 1.80 cases per 100 employees for FY 

2021 and FY 2022.

Manufacturing Cost for Currency (dollar cost per 1,000 notes produced) is an indicator of 

manufacturing efficiency and effectiveness of program management. The measure is based on 

contracted price factors, productivity improvements, and the mix and timing of denominations 

ordered. Actual performance against standard costs depends on BEP’s ability to meet spoilage, 

efficiency, and capacity utilization goals. The final FY 2020 cost was $56.19 per 1,000 notes 

Department of the Treasury - Budget in Brief 119 Non-Appropriated Accounts - Bureau Program Detail
produced. BEP’s target for this performance metric in FY 2021 is $64.33. The target for FY 2022 is 

set at $65.00 per 1,000 notes produced and will be refined once the currency order is received. 

The Yearly Currency Order measures BEP’s success in delivering the total number of currency notes 

ordered by the Federal Reserve Board annually. In FY 2020, BEP met its target of delivering 100 

percent of the currency notes ordered, including a 20% increase mid-year due to increased demand 

during the COVID-19 pandemic. In FY 2021, BEP has committed to deliver 7.6B notes. 

Additionally, the FRB will accept any additional production up to a total of 9.6B notes. Should 

production exceed the commitment of 7.6B notes, the Yearly Currency Order figure reported will be 

greater than 100% (applicable to FY 2021 only). 

Department of the Treasury - Budget in Brief 120 Non-Appropriated Accounts - Bureau Program Detail
United States Mint 

Program Summary by Budget Activity 

Dollars in Thousands

 FY 2020 FY 2021 FY 2022 FY 2021 to 

FY 2022 

Budget Activity Actual Estimate Estimate % Change 

Manufacturing $3,462,361 $3,300,500 $3,312,598 0.37% 

Total Cost of Operations $3,462,361 $3,300,500 $3,312,598 0.37% 

Full-time Equivalents (FTE) 1,539 1,671 1,671 0.00% 

Summary 

In Fiscal Year (FY) 2022, the Mint’s total estimated budgetary requirements for operations, 

metal, and capital investments are $3.31 billion. This budget will support the production of 18 

billion circulating coins, as well as the production of bullion and other numismatic products 

sufficient to meet customer demand. The Mint has one budget activity: manufacturing, which 

encompasses the bureau’s two major programs, circulating coinage and numismatic products 

(including bullion coins, collector coins, and national medals). 

To maintain its reputation as one of the finest mints in the world, the Mint is committed to 

operating according to the core values of service, quality, and integrity. The Mint has three 

strategic goals to help fulfill its mission and values: 1) Advancing our circulating mission 

through innovation and technology; 2) Foster a safe, flexible, diverse and engaged workforce; 

3) Introducing diverse products to new customers and revitalizing the Mint customer base 

through the use of industry-proven marketing approaches. 

Mint operations are funded through the Mint Public Enterprise Fund (PEF), 31 U.S.C. § 5136. 

The Mint generates revenue through the sale of circulating coins to the Federal Reserve Banks 

(FRB), numismatic products to the public, and bullion coins to authorized purchasers. All 

circulating and numismatic operating expenses, along with capital investments incurred for the 

Mint’s operations and programs, are paid out of the PEF. By law, all funds in the PEF are 

available without fiscal year limitation. Revenues determined to be in excess of the amount 

required by the PEF are transferred to the United States Treasury General Fund. The Mint’s key 

priorities for FY 2022 include: 

 Circulating - Efficiently and effectively mint and issue approximately 18.0 billion circulating 

coins in FY 2022 to meet the needs of commerce. 

 Numismatic Program Bullion Products - Mint and issue bullion coins to meet customer 

demand efficiently and effectively. 

 Other Numismatic Products - Produce and distribute numismatic products in sufficient 

quantities, through appropriate channels, to make them accessible, available, and affordable 

to people who choose to purchase them. Design, strike, and prepare for presentation 

Congressional Gold Medals. 

Department of the Treasury - Budget in Brief 121 Non-Appropriated Accounts - Bureau Program Detail
Budget Highlights 

Dollars in Thousands 

 FTE Materials Operating & 

Capital Total 

FY 2021 Original Estimate 1,705 $2,080,000 $467,197 $2,547,197 

Program Changes 

Program Decreases: (34) $0 ($9,827) ($9,827) 

FTE Reduction (34) $0 ($2,107) ($2,107) 

Operating Efficiencies 0 $0 ($7,720) ($7,720) 

Program Increases: 0 $730,000 $33,130 $763,130 

Metal Due to Forecasted Increase in Circulating Coin Production 0 $250,000 $0 $250,000 

Metal Due to Forecasted Increase in Bullion and Numismatic Production 0 $480,000 $0 $480,000 

COVID-19 Requirements 0 $0 $5,410 $5,410 

Increased Shipping and Handling 0 $0 $17,744 $17,744 

Equipment and Facilities O&M 0 $0 $9,976 $9,976 

Subtotal Program Changes (34) $730,000 $23,303 $753,303 

FY 2021 Revised Estimate 1,671 $2,810,000 $490,500 $3,300,500 

Changes to Base 

Maintaining Current Levels (MCLs) 0 $0 $12,098 $12,098 

Pay Annualization (1.0% average pay raise) 0 $0 $547 $547 

Pay Raise (2.7% average pay raise) 0 $0 $4,443 $4,443 

FERS Contribution Increase 0 $0 $1,675 $1,675 

Non-Pay 0 $0 $5,433 $5,433 

Subtotal Changes to Base 0 $0 $12,098 $12,098 

FY 2022 Current Services 1,671 $2,810,000 $502,598 $3,312,598 

FY 2022 Estimate 1,671 $2,810,000 $502,598 $3,312,598 

FY 2022 Budget Adjustments 

Adjustment to Estimate 

Program Decreases............................................................-$9,827,000 / -34 FTE 

FTE Reduction -$2,107,000 / -34 FTE 

Salary savings will be realized through natural attrition across all directorates. 

Operating Efficiencies -$7,720,000 / -0 FTE 

The Mint will reduce its operating budget by continuing to monitor costs and implement various 

savings strategies. 

Program Increases............................................................. +$763,130,000 / +0 FTE

Metal Due to Forecasted Increase in Circulating Coin Production +$250,000,000 / +0 FTE 

FY 2021 forecasted circulating coin production is increasing by 29%, from 15.5 billion coins in 

FY 2020 to approximately 20 billion coins. Metal prices are also projected to increase which 

results in an overall increase in circulating coin program costs. 

Metal Due to Forecasted Increase in Bullion and Numismatic Production +$480,000,000 / +0 FTE 

FY 2021 forecasted demand for the bullion coin program is increasing metal requirements by 

$480 million. Bullion program sales are forecasted to increase by 6 percent, and precious metal 

prices have surged. The projected increase is bullion sales coupled with the surge in metal prices 

results in an overall increase in program costs. 

Department of the Treasury - Budget in Brief 122 Non-Appropriated Accounts - Bureau Program Detail
COVID-19 Requirements +$5,410,000 / +0 FTE 

COVID -19 funding is required to maintain a healthy and safe workforce. The Mint has taken 

steps to ensure the safety of its employees by installing plexi-glass shields in areas with high 

customer interaction. Touchless faucets, touchless paper towel dispensers, and touchless soap 

dispensers are being installed in bathrooms throughout our facilities, and water fountains are 

being converted to water bottle filling stations. In FY 2022, the Mint will continue to provide all 

our facilities with Personal Protective Equipment (PPE) and enhanced janitorial cleaning 

services to ensure the safety of all who enter our buildings. In addition, as coin demand has 

soared during the pandemic and is expected to remain high, overtime will be used to ensure these 

elevated production levels are met. 

Increased Shipping and Handling +$17,744,000 / +0 FTE 

As a result of the increase in FY 2021 forecasted demand for the bullion coin program and 

circulating coin production, operating cost has also increased requiring additional funding for 

freight. 

Equipment and Facilities O&M +$9,976,000 / +0 FTE 

With increases to FY 2021 forecasted demand for the bullion coin program and circulating coin 

production, operation and maintenance of equipment and facilities cost has also increased 

requiring additional funding.

 

Maintaining Current Levels (MCLs)..................................................... +$12,098,000 / +0 FTE

Pay Annualization (1.0%) +$547,000 / +0 FTE 

Funds are required for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$4,443,000 / +0 FTE 

Funds are required for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$1,675,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$5,433,000 / +0 FTE 

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

and equipment. 

Legislative Proposals 

Mint has no legislative proposals. 

Department of the Treasury - Budget in Brief 123 Non-Appropriated Accounts - Bureau Program Detail
Performance Highlights 

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Manufacturing Customer Satisfaction Index (%) 93.6 93.6 91.7 87 90 

Manufacturing Numismatic Sales Units (Million 

Units) 3.3 4.3 3.4 3.6 3.8 

Manufacturing Safety Incident Recordable Rate 1.9 1.45 1.29 2.3 2.16 

Manufacturing Seigniorage per Dollar Issued ($) 0.37 0.4 0.47 0.41 0.41 

Manufacturing Circulating On-time Delivery (%) 0 0 100 97.5 97.5 

Description of Performance 

Customer Satisfaction Index (CSI) 

The Mint conducts a quarterly survey of a random sample of active numismatic customers. The 

survey is intended to capture customer satisfaction with the Mint’s service performance as a coin 

products supplier and with the quality of specific products. The CSI metric is a quantitative 

score summarizing the survey’s results into one consolidated value. This metric gauges 

performance results in the effort to achieve the Mint’s internal strategic plan goal, 

“Revitalization of products and customer base,” and the Mint’s internal strategic objective linked 

to this goal, “Integrated marketing plan”, which includes metrics for performance, customer 

engagement and customer satisfaction to evaluate the health of the Mint’s sales and marketing 

program. 

In FY 2020, the CSI was 91.7 percent, exceeding its 90.0 percent target. The Mint was able to 

exceed its target by providing high-quality products, adding innovative features, and improving 

the Mint’s customer loyalty program. The Mint has set the target for this metric at 87.0 percent 

for FY 2021 and at 90.0 percent for FY 2022. 

Numismatic Sales Units 

The numismatic sales unit metric measures public demand for coin products sold from 

numismatic operations. This metric also measures performance results achieving the Mint’s 

internal strategic plan goal, “Revitalization of products and customer base” and the Mint’s 

internal strategic objective linked to this goal, “Increasing brand awareness.” 

Numismatics product sales for FY 2020 totaled 3.4 million units, missing its 3.8 million unit 

target. The Mint’s numismatic unit sales fell in FY 2020, likely as a result of the worldwide 

COVID-19 pandemic. Currently, the environment for numismatic sales overall remains 

challenging. The performance target for numismatic sales units is 3.6 million for FY 2021 and 

3.8 million for FY 2022. Targets are representative of anticipated results for the various 

numismatic product programs for that year. Therefore, targets tend to vary year over year. To 

meet these targets, the Mint will continue to provide high-quality products and maintain 

outstanding customer service, and deepen engagement with coin collectors.

Safety Incident Recordable Rate

The safety incident recordable rate is the number of injuries and illnesses meeting the 

Occupational Safety and Health Administration recording criteria per 100 full-time workers. 

Department of the Treasury - Budget in Brief 124 Non-Appropriated Accounts - Bureau Program Detail
It measures the occurrence of work-related incidents involving death, lost-time and restricted 

work, loss of consciousness, or medical treatment. The safety incident recordable rate indicates 

performance results in the effort to achieve the Mint’s internal strategic plan goal, “Foster a safe, 

flexible, diverse, and engaged workforce,” and the corresponding Mint internal strategic 

objective linked to this goal, “Continue to cultivate a safe working environment.” 

In FY 2020, the total recordable case rate reached 1.29, well below the Mint’s FY 2020 target of 

2.32, and significantly below the most recently published industry average rate of 4.9 for 

comparable private sector manufacturing operations. During FY 2020, the Mint continued 

implementing and updating risk management guidelines to prioritize resources and mitigate risks 

in advance of injuries or catastrophic events at each plant. Mint facility leadership and 

employees continue to interact on a daily basis on the importance of safety. The performance 

targets for the safety incident recordable rate are 2.30 for FY 2021 and 2.16 for FY 2022. The 

Mint is currently on target to exceed its FY 2021 goal. 

Seigniorage per Dollar Issued 

Seigniorage per Dollar Issued is the financial return on circulating operations, calculated as 

seigniorage divided by the total face value of circulating coins shipped to the FRBs. Seigniorage 

is the difference between the face value and cost of producing circulating coinage. It measures 

the cost effectiveness of minting and issuing the United States’ circulating coinage. It also 

measures performance results in achieving the Mint’s internal strategic plan goal, “Advancing 

the circulating mission,” as well as the Mint’s internal strategic objective linked to the goal, 

“Utilize research, analysis, and technology for enhancement of circulating coin output and 

input.” 

At the end of FY 2020, Seigniorage per Dollar Issued was $0.47, well above the FY 2020 

performance target of $0.36 as a result of an increase in circulating units shipped. The FY 2021 

and FY 2022 target increases are a result of anticipated increases in production volumes, as well 

as base metals cost for all denominations, as market prices are expected to escalate. The 

Seigniorage per Dollar Issued performance targets are set at $0.41 for both FY 2021 and 

FY 2022. 

Circulating On-time Delivery 

Circulating On time Delivery is the percentage total scheduled circulating coin orders shipped on 

time to the Federal Reserve Banks. Each month, the FRB provides Mint a report detailing the 

next month's requirements for coinage. Based on this report, the Mint establishes a shipment 

schedule that is captured in the Oracle manufacturing system. Changes to the schedule are only 

made when the FRB provides formal documentation of a requested adjustment to scheduled 

orders. The Mint will continue to respond to FRB orders as needed, as well as make every effort 

to have the appropriate amount of coinage available to accommodate timely shipments. On-time 

delivery to the Federal Reserve Banks (FRB) is the percentage of total scheduled orders shipped 

on time to the FRB. Performance over the past few years has consistently averaged around 100 

percent or above. On time delivery for FY 2020 was 100 percent. The performance targets for 

circulating on-time delivery is set at 97.5 percent for both FY 2021 and FY 2022. 

Department of the Treasury - Budget in Brief 125 Non-Appropriated Accounts - Bureau Program Detail
Department of the Treasury - Budget in Brief 126 Non-Appropriated Accounts - Bureau Program Detail
Office of the Comptroller of the Currency 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to 

FY 2022 

Budget Activity Actual Estimate Estimate % Change 

Supervise $953,433 $1,030,945 $1,038,425 0.73% 

Regulate $94,738 $109,481 $110,275 0.73% 

Charter $20,519 $21,715 $21,873 0.73% 

Total Cost of Operations $1,068,690 $1,162,141 $1,170,573 0.73% 

Full-time Equivalents (FTE) 3,589 3,523 3,523 0.00% 

Summary 

The Office of the Comptroller of the Currency (OCC) was created by Congress in 1863 to 

charter national banks; oversee a nationwide system of banking institutions; and ensure national 

banks are safe and sound, competitive and profitable, and capable of serving in the best possible 

manner the banking needs of their customers. 

As of September 30, 2020, the OCC supervised 821 national bank charters, 53 federal branches 

and agencies, and 284 federal savings associations. In total, the OCC supervises approximately 

$14.1 trillion in financial institution assets. 

The OCC has established three goals to affirm its mission: 1) The OCC fosters a safe, sound, and 

fair national banking system that is a source of economic strength and opportunity that meets the 

evolving needs of consumers, businesses, and communities; 2) OCC employees are engaged, 

prepared, and empowered to meet its mission; 3) The OCC operates efficiently and effectively. 

To achieve its goals and objectives, the OCC organizes its programs under three activities: 1) 

Supervise; 2) Regulate; and 3) Charter. Effective supervision and a comprehensive regulatory 

framework are the key tools that the OCC uses to ensure that national banks and federal savings 

associations operate in a safe and sound manner and that they provide fair access to financial 

services and fair treatment of their customers. A robust chartering program allows new entrants 

into the financial services sector while ensuring that they have the necessary capital, managerial, 

and risk management processes to conduct activities in a safe and sound manner. 

The OCC’s priorities focus on strengthening the resiliency of the institutions subject to its 

jurisdiction through its supervisory and regulatory programs and activities. 

In accordance with the Government Performance and Results Act Modernization Act (GPRAMA)

of 2010, the Department of the Treasury is currently developing the FY 2022 – 2026 

Departmental Strategic Plan. The Strategic Plan is scheduled for publication in 2022. The 

Annual Performance Plan will be updated in the FY 2023 President’s Budget to reflect new 

departmental strategic goals and objectives. The OCC will publish a component plan that aligns 

bureau activities and priorities to the Department’s by fall 2022, or within 12 months of the 

confirmation of a new Comptroller of the Currency. 

Department of the Treasury - Budget in Brief 127 Non-Appropriated Accounts - Bureau Program Detail
The OCC’s nationwide staff of bank examiners conducts on-site and off-site reviews of banks 

and provides sustained supervision of these institutions’ operations. Examiners analyze asset 

quality, capital adequacy, earnings, liquidity, and sensitivity to market risk for all banks, and 

assess compliance with federal consumer protection laws and regulations. Examiners also 

evaluate management’s ability to identify and control risk and assess banks’ performance in 

meeting the credit needs of the communities in which they operate, pursuant to the Community 

Reinvestment Act (CRA). 

In supervising banks, the OCC has power to: 

 Approve or deny applications for new charters, branches, capital, or other changes in 

corporate or banking structure; 

 Take supervisory and enforcement actions against banks that do not comply with laws and 

regulations or that otherwise engage in unsafe or unsound practices; 

 Remove and prohibit officers and directors, negotiate agreements—both formal (i.e., public) 

and informal (i.e., non-public)—to change banking practices, and issue cease-and-desist 

orders as well as Civil Money Penalties (CMPs); and 

 Issue rules and regulations, legal interpretations, supervisory guidance, and corporate 

decisions governing investments, lending, and other practices. 

The OCC receives no appropriated funds from congress for any portion of its operations. 

Operations are funded primarily (approximately 97 percent) from semiannual assessments levied 

on national banks and federal savings associations. Revenue from investments in Treasury 

securities and other income comprise the remaining three percent of the OCC’s funding. 

Legislative Proposals 

OCC has no legislative proposals. 

Performance Highlights FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Budget Activity Performance Measure Actual Actual Actual Target Target 

Charter 

Percentage of Licensing Applications and 

Notices Completed within Established 

Timeframes 

97 99 98 95 95 

Supervise 

Percentage of National Banks and Federal 

Savings Associations with Composite CAMELS 

Rating 1 or 2 

96 96 96 90 90 

Supervise 

Percentage of National Banks and Federal 

Savings Associations That Are Categorized as 

Well Capitalized 

95 98 99 95 95 

Supervise 

Percentage of National Banks and Federal 

Savings Associations with Consumer 

Compliance Rating of 1 or 2 

98 98 98 94 94 

Supervise 

Rehabilitated National Banks and Federal 

Savings Associations as A Percentage Of 

Problem National Banks One Year Ago 

(CAMEL 3,4, or 5) 

44 15 23 40 40 

Supervise 

Total OCC Costs Relative to Every $100,000 in 

Bank and Federal Savings Associations Assets 

Regulated ($) 

9.12 8.07 7.78 7.71 7.71 

 

Department of the Treasury - Budget in Brief 128 Non-Appropriated Accounts - Bureau Program Detail
Description of Performance 

The OCC charters, regulates and supervises all national banks and federal savings associations, 

as well as supervises federal branches and agencies of foreign banks. The primary goal of the 

OCC’s Supervise Program is to ensure that these institutions operate in a safe and sound manner 

and in compliance with laws requiring fair treatment of their customers and fair access to credit 

and financial products. The OCC also monitors risks and threats to the stability of the national 

banking system through its regular examinations of the institutions it supervises and other 

monitoring. 

The overall objective of the OCC’s Supervise Program supports facilitating commerce through 

the goal of ensuring the safety and soundness of the national banking system. Through its 

Supervise Program the OCC supports facilitating commerce through the goal of ensuring the 

safety and soundness of the national banking system. The OCC has taken several steps to 

improve the cybersecurity of the nation’s financial sector critical infrastructure including 

organizing webinars for community bankers. The agency continues to update examiner 

handbooks, procedures, and training materials to ensure that, as threats evolve, all national banks 

and federal savings associations can identify cyber risks and strengthen their risk management 

and control systems. The OCC is an active member of the Financial Services Information 

Sharing and Analysis Center, which provides greater real-time insight into a broad range of 

potential threats to the industry and the ability to assist, when appropriate, in a coordinated 

response with other government agencies. Finally, the OCC supports protecting the integrity of 

the financial system through its examinations of compliance with Bank Secrecy Act/Anti-Money 

Laundering (BSA/AML), in accordance with Federal Financial Institutions Examination Council 

(FFIEC) procedures and through the initiation of enforcement actions for non-compliance with 

BSA/AML laws and regulations under OCC’s general bank supervisory authority and delegated 

authority from Treasury’s Financial Crimes Enforcement Network (FinCEN), which has 

regulatory authority for BSA/AML. 

The composite CAMELS (Capital adequacy, Asset quality, Management, Earnings, Liquidity, 

and Sensitivity to market risk) rating reflects the overall condition of a bank. Bank regulatory 

agencies use the Uniform Financial Institutions Rating System, CAMELS, to provide a general 

framework for evaluating all significant financial, operational, and compliance factors inherent 

in a bank. The rating scale is 1 through 5 of which 1 is the highest rating granted. CAMELS 

ratings are assigned at the completion of every supervisory cycle or when there is a significant 

event leading to a change in CAMELS. Through September 30, 2020, 96 percent of national 

banks and federal savings associations earned composite CAMELS rating of either 1 or 2. 

To ensure fair access to financial services and fair treatment of bank customers, the OCC 

evaluates a bank’s compliance with consumer laws and regulations. Bank regulatory agencies 

use the Uniform Financial Institutions Rating System, Interagency Consumer Compliance 

Rating, to provide a general framework for assimilating and evaluating significant consumer 

compliance factors inherent in a bank. Each financial institution is assigned a consumer 

compliance rating based on an evaluation of its present compliance with consumer protection 

and civil rights statutes and regulations and the adequacy of its operating systems designed to 

ensure continuing compliance. Ratings are on a scale of 1 through 5 in increasing order of 

supervisory concern. National banks and federal savings associations continue to show strong 

Department of the Treasury - Budget in Brief 129 Non-Appropriated Accounts - Bureau Program Detail
compliance with consumer protection regulations with 98 percent earning a consumer 

compliance rating of either 1 or 2 through September 30, 2020.

The OCC’s timely and effective approval of corporate applications contributes to the nation’s 

economy by enabling national banks and federal savings associations to complete various 

corporate transactions and introduce new financial products and services. Delays in providing 

prompt decisions on applications and notices can deprive a bank of a competitive or business 

opportunity, create business uncertainties, or diminish financial results. Timeframes have been 

established for completing each type of application and notice. The OCC completed 98 percent 

of applications and notices within the time standard through September 30, 2020. 

The OCC’s early identification and intervention with problem financial institutions can lead to a 

successful rehabilitation. As of September 30, 2020, 23 percent of national banks and federal 

savings associations with composite CAMELS ratings of 3, 4, or 5 one year ago have improved 

their ratings to either 1 or 2 this year. The OCC continues to focus on the early identification and 

rehabilitation of problem institutions. 

The OCC continuously takes steps through its Supervise and Regulate programs to make 

national banks and federal savings associations more resilient to financial stresses and to identify 

and obtain corrective action at an earlier stage when problems can be addressed most 

successfully. These efforts include heightened capital and liquidity standards and increased 

emphasis on the need for stress testing, designed to provide financial institutions with stronger 

capital buffers to withstand unforeseen events. These are multi-year efforts that will continue in 

FY 2021 and beyond. 

The OCC monitors the efficient use of its resources by measuring Total OCC Costs Relative to 

Every $100,000 in Bank Assets Regulated. This measure reflects the efficiency of its operations 

while meeting the increasing supervisory demands of a growing and more complex financial 

system. This measure supports the OCC’s strategic goal of efficient use of agency resources. 

The OCC’s ability to control its costs while ensuring the safety and soundness of national banks 

and federal savings associations benefits all national bank and federal savings association 

customers. The OCC will continue its efforts to ensure that resources are used prudently and that 

programs are carried out in a cost-effective manner ensuring that the OCC operates as efficiently 

and effectively as possible. 

Department of the Treasury - Budget in Brief 130 Non-Appropriated Accounts - Bureau Program Detail
Message from the Secretary of the Treasury 

Dear Member: 

On behalf of President Biden, it is my pleasure to submit the Congressional Budget Justification 

for the Department of Treasury’s International Programs for Fiscal Year 2022. This request 

comes during a time of four converging crises: ending the COVID-19 pandemic, providing 

economic relief, tackling climate change, and advancing racial equity. The budget proposes 

investments that address each of these areas. Additionally, this request reflects the Biden-Harris 

Administration’s commitment to restore U.S. leadership in the multilateral system, to offer 

countries high-quality finance and policy advice that serve as an alternative to unsustainable 

borrowing from other actors, and to tackle interconnected global challenges—recovery from the 

COVID-19 pandemic, the fight against climate change, and reducing global poverty and 

inequality. The FY 2022 request aims not just to return to life as it was before the pandemic, but 

to build back better by creating a more environmentally sustainable and prosperous global

economy for all. 

The FY 2022 Budget requests $1.95 billion for the multilateral development banks (MDBs). The 

MDBs are vital institutions for strengthening long-term growth, reducing poverty and inequality, 

fighting climate change, and fostering greater inclusion. They are also playing a leading role in

responding to the health, economic, and social impacts of the COVID-19 pandemic. The FY 

2022 Budget proposes $102 million for the Poverty Reduction and Growth Trust of the 

International Monetary Fund (IMF), the IMF’s concessional lending facility for the world’s

poorest countries, or another IMF facility. This will enable the IMF to continue supporting 

critical health and social spending in poor countries as they recover from the crisis. 

Across the government, the FY 2022 Budget requests $2.5 billion in U.S. climate development 

assistance as a strong commitment to multilateral efforts and to reestablish U.S. leadership in 

confronting the largest long-term threat that the world faces. Of this, 1.09 billion is for Treasury

programs to combat climate change and environmental degradation, including through the

Tropical Forest and Coral Reef Conservation Act. The FY22 Budget also includes funding for 

U.S. participation in the G20 Debt Service Suspension Initiative and Common Framework—

which are providing the poorest countries with liquidity support to respond to the COVID-19

pandemic—as well as increased funding for the International Fund for Agricultural Development

and Treasury’s Office of Technical Assistance.

Sustained U.S. international leadership requires that we meet our commitments. The budget 

requests $489 million to reduce unmet commitments to international financial institutions, some 

of which date to the 1990s. Unmet commitments have been a persistent and growing problem

that have undermined U.S. influence, credibility, and leadership. Addressing this problem has

been put off for far too long, and it is time to begin addressing it. 

Sincerely, 

Janet L. Yellen 

Department of the Treasury - Budget in Brief 131 Treasury International Programs
Treasury Department International Programs 

Executive Summary 

The Administration’s FY 2022 Budget requests $3.278 billion for Treasury Department 

International Programs. This request is a critical component of the Biden-Harris 

Administration’s approach for restoring American global standing and leadership and for 

confronting 21st century security challenges by working together in partnership with international 

financial institutions (IFIs) and our allies. The proposed investments in Treasury International 

Programs respond to three compounding global crises of unprecedented scope and scale at the 

same time: the COVID-19 pandemic, the resulting global economic crisis that has eroded years 

of progress in reducing poverty in developing countries, and the climate crisis, which is the 

greatest long-term threat that the world faces and puts the wellbeing of the American people at 

significant risk. These investments, particularly U.S. contributions to multilateral development 

banks (MDBs) will also contribute to enhancing equity and fostering the inclusion of 

disadvantaged and marginalized people in developing countries that have not adequately shared 

the benefits of development. 

These investments in Treasury International Programs further American economic, foreign 

policy, and security interests of building a more secure, prosperous, inclusive, environmentally 

sustainable, and democratic world. The institutions and programs supported by this request are 

among the most effective instruments through which the United States can advance its leadership 

on issues relating to international financial stability, economic development, reduction of global 

poverty and inequality, enhancing social and economic inclusion, climate change, improving 

food security, and investing in infrastructure. In so doing, they expand markets for U.S. exports 

and improve the wellbeing of the American people. The request draws on the catalytic power of 

working with our partners to address the world’s most pressing economic challenges and restores 

U.S. leadership in the multilateral system. 

As part of the Administration’s historic request for approximately $2.5 billion for international 

climate change programs, Treasury’s request includes $1.089 billion for climate change and 

environmental funds and programs. This includes the first contribution to the Green Climate 

Fund (GCF) since 2017, as well as requests for Clean Technology Fund (CTF), the Global 

Environment Facility (GEF)1, and the Tropical Forest and Coral Reef Conservation Act 

(TFCCA). These programs will accelerate progress toward meeting the goals of the Paris 

Agreement by assisting developing countries in mitigating greenhouse gas emissions, adapting to 

climate change and building resilience, expanding clean energy production, and utilizing forest 

conservation and other natural climate solutions to reduce and avoid greenhouse gas emissions. 

The contributions to the MDBs also support U.S. climate change goals as they are the among the 

largest and most effective financiers of systemic change to address climate change. 

The Administration seeks funding to begin paying down the substantial and growing balance of 

U.S. unmet commitments at IFIs and multilateral funds, some of which date to the 1990s. A 

particular priority is to clear U.S. unmet commitments for previous pledges to the International 

Development Association. The FY 2022 budget also seeks funding and necessary authorization 

to make the United States’ first contribution to the Poverty Reduction and Growth Trust (PRGT) 

of the International Monetary Fund (IMF), which lends to the world’s poorest countries to 

1 Because the GEF supports multiple environmental goals, only a portion of GEF funding is included in climate finance totals. 

Department of the Treasury - Budget in Brief 132 Treasury International Programs
support macroeconomic stability and sustain their ability to expand health and social sector 

spending. These contributions will strengthen the United States’ ability to lead within the IFIs to 

promote more inclusive and environmentally sustainable development pathways, to increase the 

allocation of financing to the world’s poorest and most fragile countries, and to continue to 

ensure that the IFIs deliver on key reforms aimed at improving governance, effectiveness, and 

financial discipline, particularly with regard to those agreed as part of multilateral development 

bank (MDB) capital increases and replenishments. Proposed contributions to the IFIs will also 

sustain their capacity to provide developing countries with robust alternatives to non-transparent 

and potentially coercive sources of development finance. 

Multilateral Development Banks 

The FY 2022 Budget requests $1.954 billion for the MDBs. The MDBs play key roles in the 

effort to reduce poverty, increase economic growth, foster economic and social inclusion, and 

fight climate change, which advances U.S. foreign policy objectives of sustaining peace and 

stability, promoting security, and protecting the global environment. The MDBs have also 

played a leading role in the global response to the COVID-19 pandemic and, over the past year, 

have provided more than $85 billion to address the health and economic impacts of the 

pandemic. 

The MDBs are among the most effective and efficient means through which the United States 

can support developing countries in reducing their greenhouse gas emissions, adapting to the 

impacts of climate change, and building resilience. The MDBs have also been strong partners in 

terms of promoting a positive development agenda for disadvantaged, marginalized or vulnerable 

groups. The increased support sought by the Administration for the MDBs is critical for 

enabling the United States to reestablish its leadership on these issues. 

Treasury’s requests for the MDBs include: 

International Bank for Reconstruction and Development (IBRD): an appropriation of $206.5 

million towards the third of up to six installments to subscribe to the U.S. share of the paid-in 

portion of the IBRD general and selective capital increases. The FY 2022 Budget also requests a 

program limitation to allow the United States to subscribe to $1.421 billion in callable capital. 

International Development Association (IDA): $1.428 billion in support of IDA programs over 

the nineteenth replenishment (IDA-19; World Bank FY 2021 – FY 20222

), including towards the 

second of three installments to IDA-19, and of which, $426.6 million is to eliminate unmet 

commitments for IDA replenishments. 

African Development Bank (AfDB): an appropriation of $54.6 million for the second of eight 

installments to subscribe to the U.S. share of the paid-in portion of the seventh general capital 

increase. The FY 2022 Budget also requests a program limitation to allow the United States to 

subscribe to $856,174,624 in callable capital. 

2

 As noted in the chapter on IDA below, IDA donors and management decided to advance the IDA-20th

replenishment period by one year. Consequently, the IDA-19 replenishment period has been shorted by one year. 

The IDA-19 pay-in period will remain FY2021 – FY2023. 

Department of the Treasury - Budget in Brief 133 Treasury International Programs
African Development Fund (AfDF): $211.3 million in support of AfDF programs over the 

fifteenth replenishment (AfDF-15; AfDB FY 2020 – FY 2022), including towards the second of 

three installments to AfDF-15, and of which, $40 million is for unmet commitments for AfDF 

replenishments. 

Asian Development Fund (AsDF): $53.3 million in support of AsDF programs over the twelfth 

replenishment (AsDF-13; FY 2022 – FY 2025), including towards the first of four installments 

to AsDF-13 and of which, $9.7 million is for unmet commitments to the AsDF. The 

Administration also requests authorization to contribute to the AsDF-13 replenishment. This 

request is included in the General Provisions found in the Department of State and Other 

International Programs chapter of the FY 2022 President’s Budget Appendix. 

International Monetary Fund – Contributions to IMF Facilities and Trust Funds 

The FY 2022 Budget requests a total of $102 million to enable the United States to make a 

meaningful contribution to the Poverty Reduction and Growth Trust (PRGT), the IMF’s 

concessional lending facility for low-income countries (LICs), or another IMF facility. Of this, 

we expect as much as $100 million would be for a grant to the PRGT and $2 million or more 

would be used to cover the subsidy cost of a loan of special drawing rights (SDRs) to the PRGT 

or another fund from Treasury’s Exchange Stabilization Fund (ESF). The specific division of 

the funding between grants to, and/or covering the subsidy cost of loans to, the PRGT, or another 

IMF facility, is yet to be determined. 

The Administration also requests authorization to loan up to 15 billion SDRs to the PRGT, or 

another IMF facility, from Treasury’s ESF. 

Climate Change and Environment 

Green Climate Fund (GCF): The FY 2022 Budget requests $625.0 million for Treasury’s 

contribution to the GCF, which will support a total FY 2022 request of $1.250 billion for the 

GCF. (The Department of State is also requesting $625 million.) 

Clean Technology Fund (CTF): The FY 2022 Budget requests $300 million for a contribution to 

the CTF, of which $270 million will be used for the subsidy cost of a loan. 

Global Environment Facility (GEF): The FY 2022 Budget requests $149.3 million, including 

towards a final installment to the GEF seventh replenishment (GEF-7; FY 2019 – FY 2022), and 

of which, 12.7 million is for unmet commitments to the GEF. 

Food Security 

International Fund for Agricultural Development (IFAD): The FY 2022 Budget requests $43 

million, including for the first of three installments towards the International Fund for 

Agricultural Development’s twelfth replenishment (IFAD-12). 

Department of the Treasury - Budget in Brief 134 Treasury International Programs
Technical Assistance – Office of Technical Assistance 

The FY 2022 Budget requests $38 million for Treasury’s Office of Technical Assistance (OTA). 

Funding will help ensure that OTA is able to respond quickly and sustainably to growing 

demand for technical assistance in areas that are priorities for the United States. Such areas 

include: supporting our national security agenda by combating terrorist financing and financial 

crimes, reducing countries’ dependence on foreign financial aid through improved domestic 

resource mobilization, and creating the conditions for private sector-led economic growth. This 

consists of improving the climate for private sector investment in infrastructure projects in 

developing and transitional countries. 

Debt Restructuring and Relief 

The FY 2022 Budget requests $67 million for two bilateral debt restructuring and relief 

programs. 

G20 Debt Service Suspension Initiative (DSSI) and Common Framework for Debt Treatments 

beyond the DSSI (Common Framework): The FY 2022 Budget requests $52 million to provide 

temporary debt service suspension to DSSI-eligible countries who request it on affordable terms, 

and to participate in Common Framework debt treatments for low-income countries. All G20 

members, including China, have committed to provide debt treatments on comparable terms 

under these initiatives. 

Tropical Forest and Coral Reef Conservation Act (TFCCA): The FY 2022 Budget requests $15 

million for the TFCCA to enable developing countries with certain concessional debt owed to the 

United States to redirect some of those payments to support conservation of their tropical forests 

and/or coral reefs. Protecting biodiversity and combating climate change are central to U.S. 

national economic and security interests. Conservation of tropical forests and coral reefs is 

critical to mitigating the impact of climate change, providing clean water, and supporting 

sustainable jobs in developing countries. 

Department of the Treasury - Budget in Brief 135 Treasury International Programs
Summary Tables 

Previous Appropriations and FY 2022 Request 

Treasury International Programs 

FY 2020 – FY 2022 

(in $ thousands) 

FY 2020 

Enacted 

FY 2021 

Enacted 

FY 2022 

Request 

FY 2021 to FY 2022 

$ Change % Change 

Multilate ral Deve lopme nt Banks (MDBs) 1,522,205 1,481,244 1,953,746 472,502 31.9%

International Bank for Reconstruction and 

Development (IBRD) 206,500 206,500 206,500 0 0.0%

International Development Association (IDA) 1,097,010 1,001,400 1,427,974 426,574 42.6%

African Development Fund (AfDF) 171,300 171,300 211,300 40,000 23.4%

African Development Bank (AfDB) 0 54,649 54,649 0 0.0%

Asian Development Fund (AsDF) 47,395 47,395 53,323 5,928 12.5%

Inte rnational Mone tary Fund (IMF) - IMF 

Facilities and Trust Funds 0 0 102,000 102,000 NA

Climate Change and Environme nt 139,575 139,575 1,074,288 934,713 669.7%

Green Climate Fund (GCF) 0 0 625,000 625,000 NA

Climate Investment Funds (CIFs) - Clean

Technology Fund 0 0 300,000 300,000 NA

Global Environment Facility (GEF) 139,575 139,575 149,288 9,713 7.0%

Food Se curity 30,000 32,500 43,000 10,500 32.3%

International Fund for Agricultural 

Development (IFAD) 30,000 32,500 43,000 10,500 32.3%

Office of Technical Assistance (OTA) 30,000 33,000 38,000 5,000 15.2%

De bt Restructuring 15,000 204,000 67,000 -137,000 -67.2%

G-20 Debt Service Sustainability Initiative 

& Common Framework on Debt Treatments 0 0 52,000 52,000 NA

Highly Indebted Poort Countries Initiative 

(HIPC), Bilateral Debt Relief: Somalia 0 78,000 0 -78,000 -100.0%

HIPC, Bilateral Debt Relief: Sudan* 0 111,000 0 -111,000 -100.0%

Tropical Forest and Coral Reef Conservation 

Act (TFCCA) 15,000 15,000 15,000 0 0.0%

TOTAL 1,736,780 1,890,319 3,278,034 1,387,715 73.4%

* In FY 2021, Congress also appropriated $120 million to Treasury's debt restructuring acount for clearing Sudan's arrears with the IMF 

on an emergency basis.

Department of the Treasury - Budget in Brief 136 Treasury International Programs
Unmet Commitments to International Financial 

Institutions 

(in thousands of US dollars) 

Institution 

FY 2016 

Enacted1

FY 2017 

Enacted 

FY 2018 

Enacted 

FY 2019 

Enacted 

FY 2020 

Enacted 

FY 2021 

Enacted 

FY 2022 

Projected2

IDA Pledges 530,321 620,534 485,264 485,264 485,264 426,574 0 

IDA MDRI 444,615 643,845 822,665 1,006,855 1,236,345 1,503,865 1,801,195 

AfDF Pledges 178,682 178,682 156,167 156,167 156,167 154,191 114,191 

AfDF MDRI 83,941 112,067 134,377 157,904 172,014 196,711 225,879 

AsDF 294,653 284,739 283,943 283,943 283,904 283,904 274,191 

IFAD 3,833 3,833 3,833 3,833 3,833 3,833 3,833 

GEF 134,967 134,967 134,963 131,951 110,843 102,391 89,666 

MIGA 6,867 6,867 6,867 6,867 6,867 6,867 6,867 

MIF 25,710 25,710 25,710 25,710 25,710 25,710 25,710 

TOTAL 1,731,493 2,011,244 2,053,789 2,258,493 2,480,946 2,704,045 2,541,531 

Total (ex 

MDRI) 

1,202,936 1,255,332 1,096,746 1,093,734 1,072,587 1,003,469 514,457 

Total MDRI 528,556 755,912 957,042 1,164,759 1,408,359 1,700,576 2,027,074 

Total IDA, 

AfDF, 

AsDF Pledges 

1,003,656 1,083,955 925,373 925,373 925,334 864,668 388,381 

1 Reflects the levels at which unmet commitments stood after enactment of appropriations legislation and includes any early encashment credits/discounts received. 

FY 2021 column reflects payments allocated for unmet commitments and any credits/discounts received, as follows: for IDA, a $58.69 million EEC from fulfillment 

of the U.S. IDA-18 commitment; for AfDF, a $1.98 million EEC from fulfillment of AfDF-14 commitment, for GEF, $3 million appropriation for unmet commitments 

and early encashment discount of $5 million from FY 2021 GEF-7 payment.

2 This column lists the levels at which Treasury projects unmet commitments will stand if Congress appropriates funding at the levels requested in the President's 

FY2022 Budget.

Department of the Treasury - Budget in Brief 137 Treasury International Programs
Department of the Treasury - Budget in Brief 138 Treasury International Programs
Summary of FY 2022 Appropriations Language 

Below is a summary of proposed Treasury appropriations language changes from the FY 2021 

enacted bill. Please note that brackets indicate which material will be deleted, and italics indicate 

which material will be inserted. 

DEPARTMENTAL OFFICES 

SALARIES AND EXPENSES

For necessary expenses of the Departmental Offices including operation and maintenance of the 

Treasury Building and Freedman's Bank Building; hire of passenger motor vehicles; 

maintenance, repairs, and improvements of, and purchase of commercial insurance policies for, 

real properties leased or owned overseas, when necessary for the performance of official 

business; executive direction program activities; international affairs and economic policy 

activities; domestic finance and tax policy activities, including technical assistance to State, 

local, and territorial entities; and Treasury-wide management policies and programs activities, 

[$233,000,000] $270,669,000: Provided, That of the amount appropriated under this heading— 

(1) not to exceed $350,000 is for official reception and representation expenses; (2) not to exceed 

$258,000 is for unforeseen emergencies of a confidential nature to be allocated and expended 

under the direction of the Secretary of the Treasury and to be accounted for solely on the 

Secretary's certificate; and (3) not to exceed [$24,000,000] $34,000,000 shall remain available 

until September 30, [2022] 2023, for— (A) the Treasury-wide Financial Statement Audit and 

Internal Control Program; (B) information technology modernization requirements; (C) the audit, 

oversight, and administration of the Gulf Coast Restoration Trust Fund; (D) the development and 

implementation of programs within the Office of Cybersecurity and Critical Infrastructure 

Protection, including entering into co- operative agreements; (E) operations and maintenance of 

facilities; and (F) international operations. 

OFFICE OF TERRORISM AND FINANCIAL INTELLIGENCE 

SALARIES AND EXPENSES 

For the necessary expenses of the Office of Terrorism and Financial Intelligence to safeguard the 

financial system against illicit use and to combat rogue nations, terrorist facilitators, weapons of 

mass destruction proliferators, human rights abusers, money launderers, drug kingpins, and other 

national security threats,[ $175,000,000,] $185,192,000 of which not less than $3,000,000 shall 

be available for addressing human rights violations and corruption, including activities 

authorized by the Global Magnitsky Human Rights Accountability Act (22 U.S.C. 2656 note): 

Provided, That of the amounts appropriated under this heading, up to $10,000,000 shall remain 

available until September 30, [2022] 2023.

CYBERSECURITY ENHANCEMENT ACCOUNT 

For salaries and expenses for enhanced cybersecurity for systems operated by the Department of 

the Treasury, [$18,000,000] $132,027,000, to remain available until September 30, [2023] 2024: 

Provided, That such funds shall supplement and not supplant any other amounts made available 

to the Treasury offices and bureaus for cybersecurity: Provided further, That of the total amount 

made available under this heading [$1,000,000] $4,000,000 shall be available for administrative 

expenses for the Treasury Chief Information Officer to provide oversight of the investments 

Department of the Treasury - Budget in Brief 139 Supplemental Information 
made under this heading: Provided further, That such funds shall supplement and not supplant 

any other amounts made available to the Treasury Chief Information Officer. 

DEPARTMENT-WIDE SYSTEMS AND CAPITAL INVESTMENTS PROGRAM 

For development and acquisition of automatic data processing equipment, software, and services 

and for repairs and renovations to buildings owned by the Department of the Treasury, 

$6,118,000, to remain available until September 30, [2023] 2024: Provided, That these funds 

shall be transferred to accounts and in amounts as necessary to satisfy the requirements of the 

Department's offices, bureaus, and other organizations: Provided further, That this transfer 

authority shall be in addition to any other transfer authority provided in this Act: Provided 

further, That none of the funds appropriated under this heading shall be used to support or 

supplement "Internal Revenue Service, Operations Support" or "Internal Revenue Service, 

Business Systems Modernization". 

OFFICE OF THE INSPECTOR GENERAL 

SALARIES AND EXPENSES 

For necessary expenses of the Office of Inspector General in carrying out the provisions of 

the Inspector General Act of 1978, [$41,044,000] $42,362,000, including hire of passenger 

motor vehicles; of which not to exceed $100,000 shall be available for unforeseen 

emergencies of a confidential nature, to be allocated and expended under the direction of the 

Inspector General of the Treasury; of which up to $2,800,000 to remain available until 

September 30, [2022] 2023, shall be for audits and investigations conducted pursuant to 

section 1608 of the Resources and Ecosystems Sustainability, Tourist Opportunities, and 

Revived Economies of the Gulf Coast States Act of 2012 (33 U.S.C. 1321 note); and of which 

not to exceed $1,000 shall be available for official reception and representation expenses. 

COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES 

For necessary expenses of the Committee on Foreign Investment in the United States, 

$20,000,000, to remain available until expended: Provided, That the chair- person of the 

Committee may transfer such amounts to any department or agency represented on the 

Committee (including the Department of the Treasury) subject to advance notification to the 

Committees on Appropriations of the House of Representatives and the Senate: Provided 

further, That amounts so transferred shall re- main available until expended for expenses of 

implementing section 721 of the Defense Production Act of 1950, as amended (50 U.S.C. 4565), 

and shall be available in addition to any other funds available to any department or agency: 

Provided further, That fees authorized by section 721(p) of such Act shall be credited to this 

appropriation as offsetting collections: Provided further, That the total amount ap- propriated 

under this heading from the general fund shall be reduced as such offset- ting collections are 

received during fiscal year [2021] 2022, so as to result in a total appropriation from the 

general fund estimated at not more than [$15,000,000] $0. 

TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION 

SALARIES AND EXPENSES 

For necessary expenses of the Treasury Inspector General for Tax Administration in carrying out 

the Inspector General Act of 1978, as amended, including purchase and hire of passenger motor 

Department of the Treasury - Budget in Brief 140 Supplemental Information 
vehicles (31 U.S.C. 1343(b)); and services authorized by 5 U.S.C. 3109, at such rates as may be 

determined by the Inspector General for Tax Administration; [$170,250,000] $175,762,000, of 

which $5,000,000 shall remain available until September 30, [2022] 2023; of which not to 

exceed $6,000,000 shall be available for official travel expenses; of which not to exceed 

$500,000 shall be available for unforeseen emergencies of a confidential nature, to be allocated 

and expended under the direction of the Inspector General for Tax Administration; and of which 

not to exceed $1,500 shall be available for official reception and representation expenses. 

COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND PROGRAM 

ACCOUNT 

Act of 1994 (subtitle A of title I of Public Law 103–325), including services authorized by 

section 3109 of title 5, United States Code, but at rates for individuals not to exceed the per diem 

rate equivalent to the rate for EX-III, [$270,000,000] $330,000,000. Of the amount appropriated 

under this heading—(1) not less than [$167,000,000] $217,383,000, notwithstanding section 

108(e) of Public Law 103–325 (12 U.S.C. 4707(e)) with regard to Small and/or Emerging 

Community Development Financial Institutions Assistance awards, is available until September 

30, [2022] 2023, for financial assistance and technical assistance under subparagraphs (A) and 

(B) of section 108(a)(1), respectively, of Public Law 103–325 (12 U.S.C. 4707(a)(1)(A) and 

(B)), of which up to $1,600,000 may be available for training and outreach under section 109 of 

Public Law 103–325 (12U.S.C. 4708), of which up to [$2,374,500] $3,153,750 may be used for 

the cost of direct loans, of which up to $6,000,000, notwithstanding subsection (d) of section 108 

of Public Law 103–325 (12 U.S.C. 4707 (d)), may be available to provide financial assistance, 

technical assistance, training, and outreach to community development financial institutions to 

expand investments that benefit individuals with disabilities, and of which not less than 

$2,000,000 shall be for the Economic Mobility Corps to be operated in conjunction with the 

Corporation for National and Community Service, pursuant to 42 U.S.C. 12571: Provided, That 

the cost of direct and guaranteed loans, including the cost of modifying such loans, shall be as 

defined in section 502 of the Congressional Budget Act of 1974: Provided further, That these 

funds are available to subsidize gross obligations for the principal amount of direct loans not to 

exceed $25,000,000: Provided further, That of the funds provided under this paragraph, 

excluding those made to community development financial institutions to expand investments 

that benefit individuals with disabilities and those made to community development financial 

institutions that serve populations living in persistent poverty counties, the CDFI Fund shall 

prioritize Financial Assistance awards to organizations that invest and lend in high- poverty 

areas: Provided further, That for purposes of this section, the term "high- poverty area" means 

any census tract with a poverty rate of at least 20 percent as measured by the 2011–2015 5-year 

data series available from the American Community Survey of the Bureau of the Census for all 

States and Puerto Rico or with a poverty rate of at least 20 percent as measured by the 2010 

Island areas Decennial Census data for any territory or possession of the United States; (2) Not 

less than [$16,500,000] $21,500,000, notwithstanding section 108(e) of Public Law 103–325 (12 

U.S.C. 4707(e)), is available until September 30, [2022] 2023, for financial assistance, technical 

assistance, training, and outreach programs designed to benefit Native American, Native 

Hawaiian, and Alaska Native communities and provided primarily through qualified community 

development lender organizations with experience and expertise in community development 

banking and lending in Indian country, Native American organizations, Tribes and Tribal 

organizations, and other suitable providers; (3) not less than $26,000,000 is available until 

Department of the Treasury - Budget in Brief 141 Supplemental Information 
September 30, [2022] 2023, for the Bank Enterprise Award program; (4) not less than 

$23,000,000, notwithstanding subsections (d) and (e) of section 108 of Public Law 103–325 (12 

U.S.C. 4707(d) and (e)), is available until September 30, [2022] 2023, for a Healthy Food 

Financing Initiative to provide financial assistance, technical assistance, training, and outreach to 

community development financial institutions for the purpose of offering affordable financing 

and technical assistance to expand the availability of healthy food options in dis- tressed 

communities; (5) not less than $8,500,000 is available until September 30, [2022] 2023, to 

provide grants for loan loss reserve funds and to provide technical assistance for small dollar 

loan programs under section 122 of Public Law 103–325 (12 U.S.C. 4719): Provided, That 

sections 108(d) and 122(b)(2) of such Public Law shall not apply to the provision of such grants 

and technical assistance; up to [$29,000,000] $33,617,000 is available until September 30, 

[2021]2022, for administrative expenses, including administration of CDFI Fund programs and 

the New Markets Tax Credit Program, of which not less than $1,000,000 is for the development 

of tools to better assess and inform CDFI in- vestment performance and CDFI Fund program 

impacts, and up to $300,000 is for administrative expenses to carry out the direct loan program; 

and (7) during fiscal year [2021] 2022, none of the funds available under this heading are 

available for the cost, as defined in section 502 of the Congressional Budget Act of 1974, of 

commitments to guarantee bonds and notes under section 114A of the Riegle Community 

Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4713a): Provided, That 

commitments to guarantee bonds and notes under such section 114A shall not exceed 

$500,000,000: Provided further, That such section 114A shall remain in effect until December 

31, [2021] 2022: Provided further, That of the funds awarded under this heading, except those 

provided for the Economic Mobility Corps, not less than 10 percent shall be used for awards that 

support investments that serve populations living in persistent poverty counties: Provided further, 

That for the purposes of this paragraph and paragraph (1), the term "persistent poverty counties" 

means any county, including county equivalent areas in Puerto Rico, that has had 20 percent or 

more of its population living in poverty over the past 30 years, as measured by the 1990 and 

2000 decennial censuses and the 2011–2015 5-year data series available from the American 

Community Survey of the Bureau of the Census or any other territory or possession of the United 

States that has had 20 percent or more of its population living in poverty over the past 30 years, 

as measured by the 1990, 2000 and 2010 Island Areas Decennial Censuses, or equivalent data, of 

the Bureau of the Census.

SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF 

PROGRAM 

SALARIES AND EXPENSES 

For necessary expenses of the Office of the Special Inspector General in carrying out the 

provisions of the Emergency Economic Stabilization Act of 2008 (Public Law 110–343), 

[$19,000,000] $17,000,000. 

FINANCIAL CRIMES ENFORCEMENT NETWORK 

SALARIES AND EXPENSES 

For necessary expenses of the Financial Crimes Enforcement Network, including hire of 

passenger motor vehicles; travel and training expenses of non-Federal and foreign government 

personnel to attend meetings and training concerned with domestic and foreign financial 

Department of the Treasury - Budget in Brief 142 Supplemental Information 
intelligence activities, law enforcement, and financial regulation; services authorized by 5 

U.S.C. 3109; not to exceed [$12,000] $45,000 for official reception and representation expenses; 

and for assistance to Federal law enforcement agencies, with or without reimbursement, 

[$126,963,000] $190,539,000, of which not to exceed [$34,335,000] $94,600,000 shall remain 

available until September 30, [2023] 2024 for information technology and to implement 

Division F of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal 

Year 2021 (Public Law 116–283). 

BUREAU OF THE FISCAL SERVICE 

SALARIES AND EXPENSES 

For necessary expenses of operations of the Bureau of the Fiscal Service, [$345,569,000] 

$360,266,000; of which not to exceed $8,000,000, to remain available until September 30, 

[2023] 2024, is for information systems modernization initiatives; and of which $5,000 shall be 

available for official reception and representation expenses. In addition, $165,000, to be derived 

from the Oil Spill Liability Trust Fund to re- imburse administrative and personnel expenses for 

financial management of the Fund, as authorized by section 1012 of Public Law 101–380. 

ALCOHOL AND TOBACCO TAX AND TRADE BUREAU 

SALARIES AND EXPENSES 

For necessary expenses of carrying out section 1111 of the Homeland Security Act of 2002, 

including hire of passenger motor vehicles, [$124,337,000] $131,330,000; of which $5,000,000 

shall remain available until September 30, 2023; of which not to exceed $6,000 shall be 

available for official reception and representation expenses; and of which not to exceed $50,000 

shall be available for cooperative research and development programs for laboratory services; and 

provision of laboratory assistance to State and local agencies with or without reimbursement[: 

Provided, That of the amount appropriated under this heading, $5,000,000 shall be for the costs 

of accelerating the processing of formula and label applications: Provided further, That of the 

amount appropriated under this heading, $5,000,000, to remain available until September 30, 

2022, shall be for the costs as- sociated with enforcement of and education regarding the trade 

practice provisions of the Federal Alcohol Administration Act (27 U.S.C. 201 et seq.)]. 

UNITED STATES MINT PUBLIC ENTERPRISE FUND 

Pursuant to section 5136 of title 31, United States Code, the United States Mint is provided 

funding through the United States Mint Public Enterprise Fund for costs associated with the 

production of circulating coins, numismatic coins, and protective services, including both 

operating expenses and capital investments: Provided, That the aggregate amount of new 

liabilities and obligations incurred during fiscal year [2021] 2022 under such section 5136 for 

circulating coinage and protective service capital investments of the United States Mint shall not 

exceed $50,000,000. 

Department of the Treasury - Budget in Brief 143 Supplemental Information 
INTERNAL REVENUE SERVICE 

TAXPAYER SERVICES 

For necessary expenses of the Internal Revenue Service to provide taxpayer ser- vices, including 

pre-filing assistance and education, filing and account services, taxpayer advocacy services, and 

other services as authorized by 5 U.S.C. 3109, at such rates as may be determined by the 

Commissioner, [$2,555,606,000] $2,940,876,000, of which not less than $11,000,0000 shall 

be for the Tax Counseling for the Elderly Program, of which not less than $13,000,000 shall be 

available for low-income taxpayer clinic grants, of which not less than $30,000,000, to remain 

available until September 30, [2022] 2023, shall be available for the Community Volunteer 

Income Tax Assistance Matching Grants Program for tax return preparation assistance, and of 

which not less than $211,000,000 shall be available for operating expenses of the Taxpayer 

Advocate Service: Provided, That of the amounts made available for the Taxpayer Advocate 

Service, not less than$5,500,000 shall be for identity theft and refund fraud casework. 

ENFORCEMENT 

For necessary expenses for tax enforcement activities of the Internal Revenue Service to 

determine and collect owed taxes, to provide legal and litigation support, to conduct criminal 

investigations, to enforce criminal statutes related to violations of internal revenue laws and other 

financial crimes, to purchase and hire passenger motor vehicles (31 U.S.C. 1343(b)), and to 

provide other services as authorized by 5 U.S.C. 3109, at such rates as may be determined by the 

Commissioner, [$5,212,622,000] $5,462,823,000, of which not to exceed $250,000,000 shall 

remain available until September 30, [2022] 2023; of which not less than $60,257,000 shall be 

for the Interagency Crime and Drug Enforcement program; and of which not to exceed 

[$15,000,000] $21,000,000 shall be for investigative technology for the Criminal Investigation 

Division: Provided, That the amount made available for investigative technology for the Criminal 

Investigation Division shall be in addition to amounts made available for the Criminal 

Investigation Division under the "Operations Support" heading. In addition, $287,452,000, for an 

additional amount to meet the terms of a concur rent resolution on the budget for tax enforcement 

activities under this heading, including tax compliance to address the Federal tax gap: 

Provided, That such additional amounts may not be transferred or reprogrammed for any other 

activity.

OPERATIONS SUPPORT 

For necessary expenses of the Internal Revenue Service to support taxpayer services and 

enforcement programs, including rent payments; facilities services; printing; postage; physical 

security; headquarters and other IRS-wide administration activities; research and statistics of 

income; telecommunications; information technology development, enhancement, operations, 

maintenance, and security; the hire of passenger motor vehicles (31 U.S.C. 1343(b)); the 

operations of the Internal Revenue Service Oversight Board; and other services as authorized by 

5 U.S.C. 3109, at such rates as may be determined by the Commissioner; [$3,928,102,000] 

$4,448,195,000, of which not to exceed $275,000,000 shall remain available until September 30, 

[2022] 2023; of which not to exceed $10,000,000 shall remain available until expended for 

acquisition of equipment and construction, repair and renovation of facilities; of which not to 

exceed $1,000,000 shall remain available until September 30, [2023] 2024, for research; of 

which not less than $10,000,000, to remain available until expended, shall be available for 

Department of the Treasury - Budget in Brief 144 Supplemental Information 
establishment of an application through which entities registering and renewing registrations in 

the System for Award Management may request an authenticated electronic certification stating 

that the entity does or does not have a seriously delinquent tax debt; and of which not to exceed 

$20,000 shall be for official reception and representation expenses: Provided, That not later than 

30 days after the end of each quarter, the Internal Revenue Service shall submit a report to the 

Committees on Appropriations of the House of Representatives and the Senate and the 

Comptroller General of the United States detailing major information technology investments in 

the Internal Revenue Service Integrated Modernization Business Plan portfolio, including 

detailed, plain language summaries on the status of plans, costs, and results; prior results and 

actual expenditures of the prior quarter; upcoming deliverables and costs for the fiscal year; risks 

and mitigation strategies associated with ongoing work; reasons for any cost or schedule 

variances; and total expenditures by fiscal year: Provided further, That the Internal Revenue 

Service shall include, in its budget justification for fiscal year [2022] 2023, a summary of cost 

and schedule performance information for its major information technology systems. In addition, 

$129,445,000, for an additional amount to meet the terms of a concur- rent resolution on the 

budget for tax enforcement activities under this heading, including tax compliance to address 

the Federal tax gap: Provided, That such additional amounts may not be transferred or 

reprogrammed for any other activity. 

BUSINESS SYSTEMS MODERNIZATION 

For necessary expenses of the Internal Revenue Service's business systems modernization 

program,[ $222,724,000] $305,032,000, to remain available until September 30, [2023] 

2024, for the capital asset acquisition of information techno- logy systems, including 

management and related contractual costs of said acquisitions, including related Internal 

Revenue Service labor costs, and contractual costs associated with operations authorized by 5 

U.S.C. 3109: Provided, That not later than 30 days after the end of each quarter, the Internal 

Revenue Service shall submit a report to the Committees on Appropriations of the House of 

Representatives and the Senate and the Comptroller General of the United States detailing major 

inform ation technology investments in the Internal Revenue Service Integrated Modernization 

Business Plan portfolio, including detailed, plain language summaries on the status of plans, 

costs, and results; prior results and actual expenditures of the prior quarter; upcoming 

deliverables and costs for the fiscal year; risks and mitigation strategies associated with ongoing 

work; reasons for any cost or schedule variances; and total expenditures by fiscal year. 

ADMINISTRATIVE PROVISIONS— INTERNAL REVENUE SERVICE 

SEC. 101. Not to exceed 4 percent of the appropriation made available in this Act to the 

Internal Revenue Service under the "Enforcement" heading, and not to exceed 5 percent of any 

other appropriation made available in this Act to the Internal Revenue Service, may be 

transferred to any other Internal Revenue Service appropriation upon [the] advance [approval of] 

notice to the Committees on Appropriations of the House of Representatives and the Senate. 

SEC. 102. The Internal Revenue Service shall maintain an employee training program, which 

shall include the following topics: taxpayers' rights, dealing courteously with taxpayers, crosscultural relations, ethics, and the impartial application of tax law. 

SEC. 103. The Internal Revenue Service shall institute and enforce policies and procedures that 

will safeguard the confidentiality of taxpayer information and protect taxpayers against identity 

theft. 

Department of the Treasury - Budget in Brief 145 Supplemental Information 
SEC. 104. Funds made available by this or any other Act to the Internal Revenue Service shall 

be available for improved facilities and increased staffing to provide sufficient and effective 1–

800 help line service for taxpayers. The Commissioner shall continue to make improvements to 

the Internal Revenue Service 1–800 help line service a priority and allocate resources necessary 

to enhance the response time to taxpayer communications, particularly with regard to victims of 

tax-related crimes. 

SEC. 105. The Internal Revenue Service shall issue a notice of confirmation of any address 

change relating to an employer making employment tax payments, and such notice shall be sent 

to both the employer's former and new address and an officer or employee of the Internal 

Revenue Service shall give special consideration to an offer-in-compromise from a taxpayer 

who has been the victim of fraud by a third party payroll tax preparer. 

SEC. 106. None of the funds made available under this Act may be used by the Internal 

Revenue Service to target citizens of the United States for exercising any right guaranteed under 

the First Amendment to the Constitution of the United States. 

SEC. 107. None of the funds made available in this Act may be used by the Internal Revenue 

Service to target groups for regulatory scrutiny based on their ideological beliefs. 

SEC. 108. None of funds made available by this Act to the Internal Revenue Service shall be 

obligated or expended on conferences that do not adhere to the procedures, verification processes, 

documentation requirements, and policies issued by the Chief Financial Officer, Human Capital 

Office, and Agency-Wide Shared Services as a result of the recommendations in the report 

published on May 31, 2013, by the Treasury Inspector General for Tax Administration entitled 

"Review of the August 2010 Small Business/Self-Employed Division's Conference in Anaheim, 

California" (Reference Number 2013–10–037). 

SEC. 109. None of the funds made available in this Act to the Internal Revenue Service may be 

obligated or expended (1) to make a payment to any employee under a bonus, award, or 

recognition program; or (2) under any hiring or personnel selection process with respect to rehiring a former employee; unless such program or process takes into account the conduct and 

Federal tax compliance of such employee or former employee. 

SEC. 110. None of the funds made available by this Act may be used in contravention of section 

6103 of the Internal Revenue Code of 1986 (relating to confidentiality and disclosure of returns 

and return information). 

SEC. 111. Notwithstanding any Congressional notification requirements for a re programming 

of funds in this Act, funds provided in this Act for the Internal Revenue Service shall be available 

for obligation and expenditure through a reprogramming of funds that augments or reduces 

existing programs, projects, or activities by up to $10,000,000 without prior Congressional 

notification of such action. 

SEC. 112. There is hereby established the Internal Revenue Service Working Capital Fund 

(Fund), which shall be available without fiscal year limitation, for expenses necessary for 

facility services, technology, and other centralized services that the Commissioner of Internal 

Revenue, subject to prior notice to the Office of Management and Budget, deems appropriate 

and advantageous to provide on a reimbursable basis: Provided, That amounts deposited in the 

Fund shall be in addition to funds otherwise available for such purposes, and shall remain 

available until expended: Provided further, That the Fund may receive advances and 

reimbursements from funds available to the business units and offices of the Internal Revenue 

Service for which such centralized services are performed at rates which will return in full all 

expenses of operation: Provided further, That unobligated balances of expired amounts 

Department of the Treasury - Budget in Brief 146 Supplemental Information 
appropriated or otherwise made available for this or any succeeding fiscal year to the Internal 

Revenue Service may be transferred and merged into the Fund no later than the end of the fifth 

fiscal year after the last fiscal year for which such funds are available for the purposes for which 

appropriated: Provided further, That no funds may be transferred pursuant to the previous 

proviso unless advance notification is provided to the Committees on Appropriations of the 

House of Representatives and the Senate. 

ADMINISTRATIVE PROVISIONS—DEPARTMENT OF THE TREASURY 

SEC. 111. Appropriations to the Department of the Treasury in this Act shall be available for 

uniforms or allowances therefor, as authorized by law (5 U.S.C. 5901), including maintenance, 

repairs, and cleaning; purchase of insurance for official motor vehicles operated in foreign 

countries; purchase of motor vehicles without regard to the general purchase price limitations for 

vehicles purchased and used overseas for the current fiscal year; entering into contracts with the 

Department of State for the furnishing of health and medical services to employees and their 

dependents serving in foreign countries; and services authorized by 5 U.S.C. 3109. 

SEC. 112. Not to exceed 2 percent of any appropriations in this title made available under the 

headings "Departmental Offices—Salaries and Expenses", "Office of Inspector General", 

"Special Inspector General for the Troubled Asset Relief Program", "Financial Crimes 

Enforcement Network", "Bureau of the Fiscal Service", and "Alcohol and Tobacco Tax and 

Trade Bureau" may be transferred between such appropriations upon the advance [approval] 

notification of the Committees on Appropriations of the House of Representatives and the 

Senate: Provided, That no transfer under this section may increase or decrease any such 

appropriation by more than 2 percent. 

SEC. 113. Not to exceed 2 percent of any appropriation made available in this Act to the Internal 

Revenue Service may be transferred to the Treasury Inspector General for Tax Administration's 

appropriation upon the advance [approval] notification of the Committees on Appropriations of 

the House of Representatives and the Senate: Provided, That no transfer may increase or decrease 

any such appropriation by more than 2 percent. 

SEC. 114. None of the funds appropriated in this Act or otherwise available to the Department 

of the Treasury or the Bureau of Engraving and Printing may be used to redesign the $1 Federal 

Reserve note. 

SEC. 115. The Secretary of the Treasury may transfer funds from the "Bureau of the Fiscal 

Service—Salaries and Expenses" to the Debt Collection Fund as necessary to cover the costs of 

debt collection: Provided, That such amounts shall be reimbursed to such salaries and expenses 

account from debt collections received in the Debt Collection Fund. 

SEC. 116. None of the funds appropriated or otherwise made available by this or any other Act 

may be used by the United States Mint to construct or operate any museum without the [explicit 

approval] prior notification of the Committees on Appropriations of the House of 

Representatives and the Senate, the House Committee on Financial Services, and the Senate 

Committee on Banking, Housing, and Urban Affairs. 

SEC. 117. None of the funds appropriated or otherwise made available by this or any other Act 

or source to the Department of the Treasury, the Bureau of Engraving and Printing, and the 

United States Mint, individually or collectively, may be used to consolidate any or all functions 

of the Bureau of Engraving and Printing and the United States Mint without the [explicit 

approval] prior notification of the House Committee on Financial Services; the Senate 

Committee on Banking, Housing, and Urban Affairs; and the Committees on Appropriations of

Department of the Treasury - Budget in Brief 147 Supplemental Information 
the House of Representatives and the Senate. 

SEC. 118. Funds appropriated by this Act, or made available by the transfer of funds in this 

Act, for the Department of the Treasury's intelligence or intelligence related activities are 

deemed to be specifically authorized by the Congress for purposes of section 504 of the 

National Security Act of 1947 (50 U.S.C. 414) during fiscal year [2021] 2022 until the 

enactment of the Intelligence Authorization Act for Fiscal Year [2021] 2022.

SEC. 119. Not to exceed $5,000 shall be made available from the Bureau of Engraving and 

Printing's Industrial Revolving Fund for necessary official reception and representation 

expenses. 

SEC. 120. The Secretary of the Treasury shall submit a Capital Investment Plan to the 

Committees on Appropriations of the House of Representatives and the Senate not later than 30 

days following the submission of the annual budget submitted by the President: Provided, That 

such Capital Investment Plan shall include capital investment spending from all accounts within 

the Department of the Treasury, including but not limited to the Department-wide Systems and 

Capital Investment Programs account, Treasury Franchise Fund account, and the Treasury 

Forfeiture Fund account: Provided further, That such Capital Investment Plan shall include 

expenditures occurring in previous fiscal years for each capital investment project that has not 

been fully completed. 

SEC. 121. Within 45 days after the date of enactment of this Act, the Secretary of the Treasury 

shall submit an itemized report to the Committees on Appropriations of the House of 

Representatives and the Senate on the amount of total funds charged to each office by the 

Franchise Fund including the amount charged for each service provided by the Franchise Fund to 

each office, a detailed description of the services, a detailed explanation of how each charge for 

each service is calculated, and a de- scription of the role customers have in governing in the 

Franchise Fund. 

SEC. 122. During fiscal year [2021] 2022— (1) none of the funds made available in this or 

any other Act may be used by the Department of the Treasury, including the Internal 

Revenue Service, to issue, revise, or finalize any regulation, revenue ruling, or other 

guidance not limited to a particular taxpayer relating to the standard which is used to 

determine whether an organization is operated exclusively for the promotion of social 

welfare for purposes of section 501(c)(4) of the Internal Revenue Code of 1986 (including 

the proposed regulations published at 78 Fed. Reg. 71535 (November 29, 2013)); and (2) 

the standard and definitions as in effect on January 1, 2010, which are used to make such 

determinations shall apply after the date of the enactment of this Act for purposes of 

determining status under section 501(c)(4) of such Code of organizations created on, 

before, or after such date. 

SEC. 123. (a) Not later than 60 days after the end of each quarter, [the Office of Financial 

Stability and] the Office of Financial Research shall submit reports on their activities to the 

Committees on Appropriations of the House of Representatives and the Senate, the 

Committee on Financial Services of the House of Representatives and the Senate 

Committee on Banking, Housing, and Urban Affairs. 

(b) The reports required under subsection (a) shall include— (1) the obligations made 

during the previous quarter by object class, office, and activity; (2) the estimated 

obligations for the remainder of the fiscal year by object class, office, and activity; (3) the 

number of full-time equivalents within each office during the previous quarter; (4) the 

estimated number of full-time equivalents within each office for the remainder of the fiscal 

Department of the Treasury - Budget in Brief 148 Supplemental Information 
year; and (5) actions taken to achieve the goals, objectives, and performance measures of 

each office. (c) At the request of any such Committees specified in subsection (a), [the 

Office of Financial Stability and] the Office of Financial Research shall make officials 

available to testify on the contents of the reports required under subsection (a). 

[SEC. 124. In addition to the amounts otherwise made available to the Department of the 

Treasury, $25,000,000, to remain available until expended, shall be for expenses associated 

with digitization and distribution of the Department's records of matured savings bonds that 

have not been redeemed.] 

SEC. 124. Of the amounts appropriated in section 4027(a) of the Coronavirus Aid, Relief, and 

Economic Security Act (15 U.S.C. 9061) that are available for obligation as a result of the 

deobligation of amounts that were, as of January 9, 2021, obligated for the credit subsidy cost of 

loans and loan guarantees that the Secretary of the Treasury had committed under paragraphs 

(1) through (3) of section 4003(b) of the Coronavirus Aid, Relief, and Economic Security Act 

(15 U.S.C. 9042(b)(1)-(3)), $25,000,000 shall be available to the Special Inspector General for 

Pandemic Recovery to carry out section 4018 of the Coronavirus Aid, Relief, and Economic 

Security Act (15 U.S.C. 9053): Provided, That such amounts shall be in addition to any other 

amounts available for such purpose. 

SEC. 125. Notwithstanding any other provision of law, the unobligated balances from amounts 

made available to the Secretary of the Treasury for administrative expenses pursuant to sections 

4003(f) and 4112(b) of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 

116–136); section 421(f)(2) of Division N of the Consolidated Appropriations Act, 2021 (Public 

Law 116–260); sections 3201(a)(2)(B), 3206(d)(1)(A), and 7301(b)(5) of the American Rescue 

Plan Act of 2021 (Public Law 117–2); and section 602(a)(2) of the Social Security Act, as added 

by section 9901 of the American Rescue Plan Act of 2021 (Public Law 117–2), shall be available 

for any administrative expenses determined by the Secretary of the Treasury to be necessary to 

respond to the coronavirus, including but not limited to expenses necessary to implement any 

provision of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136), 

Division N of the Consolidated Appropriations Act, 2021 (Public Law 116–260), the American 

Rescue Plan Act (Public Law 117–2), or title VI of the Social Security Act: Provided, That such 

un- obligated balances shall be available in addition to any other appropriations provided for 

such purposes. 

SEC. 126. Section 121 of the Emergency Economic Stabilization Act of 2008 (12U.S.C. 5231) is 

amended in subsection (e)(1)(B)(ii) by striking "subparagraph" and all that follows through the 

period at the end and inserting "subparagraph, the Special Inspector General may not make any 

appointment that exceeds 24 months or that extends beyond the date on which the Special 

Inspector General terminates under subsection (k).”

Department of the Treasury - Budget in Brief 149 Supplemental Information 
Department of the Treasury - Budget in Brief 150 Supplemental Information 
Mandatory Funding Levels for the FY 2022 President’s Budget – Treasury Chapter 

(Dollars in Millions, Includes Legislative Proposals) 

Consolidated Rows, Final Table

Appropriations (Dollars in Millions) FY 2020 FY 2021 FY 2022 FY 2022 FY 2022

Actual Estimated Estimated $ Change % Change

Payment to the Resolution Funding Corporation 2,425 1,367 920 (447) -32.7%

Interest on Uninvested Funds 23 48 9 (39) -81.3%

Restitution of Forgone Interest 116 0 0 0 0.0%

Federal Interest Liabilities to States 0 1 1 0 0.0%

Interest Paid to Credit Financing Accounts 23,315 14,284 14,063 (221) -1.5%

Refunding Internal Revenue Collections, Interest 2,957 2,735 2,298 (437) -16.0%

Interest on Public Debt 522,652 484,698 480,403 (4,295) -0.9%

Other Interest (58,593) (62,377) (53,542) 8,835 -14.2%

INTEREST PAYMENTS $492,895 $440,756 $444,152 $3,396 0.8%

NON-COVID MANDATORY ACCOUNTS

Build America Bond Payments, Recovery Act 2,075 2,642 2,614 (28) -1.1%

Capital Magnet Fund, Community Development Financial Institutions1 174 371 211 (160) -43.1%

Check Forgery Insurance Fund 6 1 1 0 0.0%

Cheyenne River Sioux Tribe Terrestrial Wildlife Habitat Restoration Trust Fund 1 1 1 0 0.0%

Claims, Judgments, and Relief Acts 8,365 11,102 3,431 (7,671) -69.1%

Community Development Financial Institutions Fund Program Account 8 16 1 (15) -93.8%

Comptroller of the Currency 1,056 1,094 1,094 0 0.0%

Continued Dumping and Subsidy Offset 57 13 10 (3) -23.1%

Exchange Stabilization Fund 139 11,728 23 (11,705) -99.8%

Federal Financing Bank 3,036 2,431 2,408 (23) -0.9%

Federal Reserve Bank Reimbursement Fund 544 646 659 13 2.0%

Federal Tax Lien Revolving Fund 0 2 2 0 0.0%

Financial Agent Services 842 863 880 17 2.0%

Financial Research Fund 74 58 79 21 36.2%

Fiscal Service Debt Collection 230 226 210 (16) -7.1%

GSE Mortgage-backed Securities Purchase Program Account 1 1 1 0 0.0%

Guam World War II Claims Fund 40 0 0 0 0.0%

Gulf Coast Restoration Trust Fund 335 319 320 1 0.3%

Internal Revenue Collections for Puerto Rico 471 476 481 5 1.1%

IRS Informant Payments 63 108 108 0 0.0%

IRS Miscellaneous Retained Fees 282 437 406 (31) -7.1%

IRS Private Collection Agent Program 149 165 104 (61) -37.0%

Office of Financial Stability 51 41 38 (3) -7.3%

Payment of Government Losses in Shipment 1 2 2 0 0.0%

Payment to Issuer of New Clean Renewable Energy Bonds 31 41 41 0 0.0%

Payment to Issuer of Qualified Energy Conservation Bonds 27 35 35 0 0.0%

Payment to Issuer of Qualified School Construction Bonds 462 567 563 (4) -0.7%

Payment to Issuer of Qualified Zone Academy Bonds 34 40 40 0 0.0%

Payment to United States Virgin Islands and Puerto Rico for Disaster Tax Relief 61 0 0 0 0.0%

Payment Where American Opportunity Credit Exceeds Liability for Tax3 2,787 3,050 3,000 (50) -1.6%

Payment Where Certain Tax Credits Exceed Liability for Corporate Tax 16,104 7,194 694 (6,500) -90.4%

Payment Where Child Tax Credit Exceeds Liability for Tax3 27,779 79,542 106,834 27,292 34.3%

Payment Where Earned Income Credit Exceeds Liability for Tax3 57,577 60,855 73,956 13,101 21.5%

Payment Where Health Coverage Tax Credit Exceeds Liability for Tax 13 31 10 (21) -67.7%

Presidential Election Campaign Fund 25 23 23 0 0.0%

Refundable Premium Tax Credit 60,672 59,255 45,740 (13,515) -22.8%

Reimbursements to Federal Reserve Banks 131 177 180 3 1.7%

Small Business Lending Fund Program Account 6 3 3 0 0.0%

Terrorism Insurance Program 2 28 79 51 182.1%

Travel Promotion Fund 94 60 28 (32) -53.3%

Treasury Forfeiture Fund 537 494 572 78 15.8%

Troubled Asset Relief Program Equity Purchase Program 7 5 0 (5) -100.0%

Subtotal, NON-COVID MANDATORY ACCOUNTS $184,349 $244,143 $244,882 $739 0.3%

COVID MANDATORY ACCOUNTS

Air Carrier Worker Support 32,000 31,000 0 (31,000) -100.0%

Child and Dependent Care Tax Credit 0 0 7,902 7,902 0.0%

Community Development Financial Institutions Fund Program, Emergency Support 0 3,000 0 (3,000) -100.0%

Coronavirus Relief Fund 150,000 362,050 0 (362,050) -100.0%

Economic Impact Payments 274,654 545,624 3,220 (542,404) -99.4%

Economic Stabilization Program Account2 499,975 (477,890) 0 477,890 -100.0%

Emergency Capital Investment Fund 0 9,000 0 (9,000) -100.0%

Department of the Treasury - Budget in Brief 151 Supplemental Information 
Total Department of the Treasury (Treasury) Mandatory Budget

The Treasury Mandatory Budget includes $832 billion dollars in interest payments, mandatory 

accounts, and offsetting receipts and collections (offsets). These accounts and the estimated 

budget authority are summarized above. Account totals exclude the effects of FY 2022 

American Jobs Plan policy proposals. For more detailed descriptions of each account, please see 

the Department of the Treasury chapter in the FY 2022 Appendix, Budget of the U.S. 

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

Interest Payments - $444 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 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 - $305 billion 

These are accounts for which the Congress has given the Department of the Treasury permanent 

authority to expend funds as appropriations. These include appropriations that fund a number of 

programs under Treasury jurisdiction such as the Terrorism Risk Insurance Program and the 

Treasury Forfeiture Fund. Other accounts that fall under mandatory programs include all 

Internal Revenue Service refundable tax credit accounts, certain user fees, and informant 

payments. The Department is also a custodian for a number of government accounts and funds 

listed in this section and further detailed in the FY 2022 Appendix, Budget of the U.S. 

Government. 

Appropriations (Dollars in Millions) FY 2020 FY 2021 FY 2022 FY 2022 FY 2022

Actual Estimated Estimated $ Change % Change

Emergency Rental Assistance 0 46,547 0 (46,547) -100.0%

Homeowner Assistance Fund 0 9,958 0 (9,958) -100.0%

IRS Business Systems Modernization 3, 4 0 500 0 (500) -100.0%

IRS Operations Support 3, 4 0 996 0 (996) -100.0%

IRS Taxpayer Services 3, 4 0 366 0 (366) -100.0%

Office of Inspector General4 0 6 0(6) -100.0%

Special Inspector General for Pandemic Recovery 25 0 0 0 0.0%

State Small Business Credit Initiative 0 10,000 0 (10,000) -100.0%

Transportation Services Economic Relief 0 2,000 0 (2,000) -100.0%

Treasury Inspector General for Tax Administration4 0 8 0(8) -100.0%

U.S. Coronavirus Refundable Credits 714 104,817 49,018 (55,799) -53.2%

Subtotal, COVID MANDATORY ACCOUNTS $957,368 $647,982 $60,140 ($587,842) -90.7%

Offsets:

Treasury Mandatory Offsetting Receipts (8,799) (22,467) (8,263) 14,204 -63.2%

Treasury Offsetting Collections (4,238) (15,257) (3,528) 11,729 -76.9%

TOTAL, DEPARTMENT OF THE TREASURY $1,621,575 $1,295,157 $737,383 -$557,774 -43.1%

2

Section 1003 of the Consolidated Appropriations Act, 2021, rescinded unobligated balances from the CARES Act FY 2020 appropriation to the Economic Stabilization 

Program; the ultimate effect of Sec. 1003 rescinded $479B from the program.

1

This table excludes FY 2022 funding related to the American Jobs Plan: $2,400M for Capital Magnet Fund (including -$2,400 Treasury Mandatory Offsetting Receipt), 

Community Development Financial Institutions, $10,000M for Manufacturing Financing Program Account.

3

Exludes the following FY 2022 budget proposal; $260M for IRS Business Systems Modernization, $187M for IRS Taxpayer Services, $695M IRS Operations Support, 

-$3M for Payment Where American Opportunity Credit Exceeds Liability for Tax , $80,950M for Payment Where Child Tax Credit Exceeds Liability for Tax, -$10M for 

Payment Where Earned Income Credit Exceeds Liability for Tax

4

IRS Business Systems Modernization, IRS Taxpayer Services, IRS Operations Support, Office of Inspector General and Treasury Inspector General for Tax 

Administration mandatory appropriations provided by the American Rescue Plan (P.L. 117-2). 

Department of the Treasury - Budget in Brief 152 Supplemental Information 
Treasury is responsible for administering multiple relief and recovery programs authorized 

through the Families First Coronavirus Response Act, Coronavirus Aid, Relief, and Economic 

Security Act, Consolidated Appropriations Act, 2021, and the American Rescue Plan Act of 

2021. The Office of Recovery Programs, managed by the Chief Recovery Officer, is principally 

focused on efficiently establishing and administering Treasury’s programs to support an 

equitable and swift recovery from the economic challenges precipitated by the COVID-19 

pandemic. 

Offsets - $12 billion 

Offsets include payments to the Government that are not credited directly to expenditure 

accounts (offsetting receipts) and payments credited directly to accounts from which they will be 

spent (offsetting collections). The receipts offset gross budget authority and outlays at the agency 

or bureau level. The collections offset gross budget authority and outlays at the account level. 

Treasury’s mandatory offsetting receipts primarily include Government Sponsored Enterprises 

(GSE) fees, proceeds from air carrier equities received by Treasury pursuant to CARES Act, 

CAA, 2021 and ARP payroll support programs, and also the non-budgetary accounts that record 

all cash flows to and from the Government resulting from direct loans obligated by Treasury 

(including modifications of direct loans that resulted from obligations in any year). Treasury’s 

mandatory offsetting collections include the payments made to accounts such as the Office of 

Comptroller of the Currency, Federal Financing Bank, and the Exchange Stabilization Fund. 

Department of the Treasury - Budget in Brief 153 Supplemental Information