1. Processing payments. 2. Issuing savings bonds.. 3. Processing deposits of withheld tax pay ments. 4. Financial reporting and maintenance of 5. Accounting and reporting development and internal audit.. 6. Processing investments, loans, claims, 7. Supervision of the Federal depositary system.... 8. Executive direction.. 1963 actual Total operating costs. 10 3 BUREAU OF ACCOUNTS Total operating costs, funded.. Capital outlay: 1. Processing payments. 2. Issuance of savings bonds. Total capital outlay. Total 71 1 2 program costs, funded.......... 18 12 269 2-220 27 1 25 27 0 9.2 $8,874 $5,074 SALARIES AND EXPENSES For necessary expenses of the Bureau of Accounts, [$4,050,000.] $33,390,000. (Reorganization Plan No. III (effective June 30, 1940), issued under the Reorganization Act of 1939 (5 U.S.C. 133t note); 5 U.S.C. 258a(b); Ex. Ord. No. 6166, Sec. 4, June 10, 1933 (note following 5 U.S.C. 124-132); 31 U.S.C. 157; Treasury Department Appropriation Act, 1964.) Note.-Includes $29,245 thousand for activities previously carried under: "Salaries and expenses. Division of Disbursement," $29.240 thousand; "Salaries and expenses. Office of the Secretary." $5 thousand. The amounts obligated in 1963 and 1964 are shown in the schedule as comparative transfers and appropriation transfer. Program and Financing (in thousands of dollars) 1963 actual 25,144 1,486 1,428 253 284 192 108 29,360 -209 29,151 1964 1965 estimate estimate 2,002 31,153 1,793 296 321 211 3. Processing deposits of withheld tax payments.-Em1,409 ployers and certain business enterprises deposit monthly, with designated banks, excise, withheld income, railroad retirement, and withheld social security taxes, to the credit of the Treasurer of the United States. The Federal Reserve banks, acting as fiscal agents of the Treasury, issue depositary receipts which the employers attach to their returns as evidence of payment of taxes. The work volume is estimated at 12,557,000 depositary receipts in 1964 and 13,373,000 in 1965 as compared with 11,791,353 in 1963. The increase in obligations estimated for 1965 of $93 thousand over 1964 is due to the increase in the estimated volume of receipts, offset by a decrease in the purchase of 480 depositary receipts and envelopes. 119 33,747 32,869 2,743 4. Financial reporting and maintenance of the Government's central accounts.-This activity includes the mainte2,743 nance of central accounts of appropriations, receipts and 34,860 33,390 expenditures which provide data for financial statements. 486 BUREAU OF ACCOUNTS-Continued General and special funds-Continued SALARIES AND EXPENSES-Continued It also includes the preparation and publication of financial reports on the Government's fiscal operations, such as the annual Combined Statement of Receipts, Expenditures, and Balances; the Monthly Treasury Statement; the Secretary's Annual Report; the Treasury Bulletin; and reports on foreign currencies acquired without payment of dollars. 5. Accounting and reporting development and internal audit. This activity includes furnishing technical accounting advice and assistance to other agencies in relation to central accounting, reporting, disbursing and depositary matters; participation in the Government-wide financial management improvement program; performing systems work within the Fiscal Service and the Bureau of Accounts; performing internal audit in the Bureau, and other audits of a departmental character. 6. Processing investments, loans, claims, collections and surety bonds. Investments in interest-bearing securities are processed for certain funds, such as the Federal oldage and survivors insurance trust fund, the unemployment trust fund, the veterans insurance trust fund, and various Government retirement funds. The work includes accounting for purchases, sales and redemptions of securities, processing of capital stock subscriptions of Government corporations, payment of international and other claims and examination of the financial condition of companies issuing surety bonds in favor of the United States. 7. Supervision of the Federal depositary system.-Banking facilities are provided for all agencies of the Government through the designation of selected institutions to act as official depositaries of the Government's funds. 8. Executive direction. This provides for the overall management of the Bureau of Accounts. Object Classification (in thousands of dollars) [SALARIES AND EXPENSES, DIVISION OF DISBURSEMENT] [For necessary expenses of the Division of Disbursement, $30,750,000.] (Ex. Ord. No. 6166, Sec. 4, June 10, 1933 (note following 5 U.S.C. 124-132); 31 U.S.C. 157; Treasury Department Appropriation Act, 1964.) 1,666 61 1,669 1,595 94 4.8 $5,587 funds of the Treasury. Statutory awards in the amount of $1,620 are paid annually to Herman F. Krafft and Sara E. Edge (46 Stat. 34,612 33.390 1921; 52 Stat. 1334). Object Classification (in thousands of dollars) 25,324 184 12,251 Appropriation Appropriations are made for payment of claims and interest for damages not chargeable to appropriations of individual agencies and for payment of private and public Appropriations are made individually for judgments over $100 thousand while 31 U.S.C. 7248 authorizes a permanent indefinite appropriation to pay judgments of $100 thousand or less from the general relief acts. 1965 estimate 21,220 7,249 2 4,311 5,000 5,000 25,533 12,251 5,002 5,002 1964 estimate 12,151 100 25,508 12,251 1965 estimate 4,902 100 5.002 Payment of claims: Revenue.. Expense. Net loss, for the year. Deficit, start of year.. Deficit, end of year. Assets: Treasury balance............... Government equity: End of year.. Deficit.... 1963 actual Total Government equity.. Unobligated balance (total Government equity). 24 -13 537 537 1963 actual Financial Condition (in thousands of dollars) 1962 1963 actual actual 24 537 This revolving fund was created as self-insurance to cover losses in shipment of Government property such as coin, currency, securities, certain losses incurred by the Post Office Department, and losses in connection with the redemption of savings bonds (5 U.S.C. 134). Since these claims are only partially offset by recoveries, the net losses have gradually increased to $1,556 thousand as of June 30, 1963, and are expected to increase to $1,919 thousand by June 30, 1964. It is estimated that the creation of this fund has resulted in a savings of over $111 million of insurance premiums on shipments of Government property. Revenue, Expense, and Retained Earnings (in thousands of dollars) 1,044 1964 estimate 24 537 -537 -1,019 -363 -1,556 -1,556 -1,919 13 -200 364 1964 estimate 13 364 1,044 525 1 363 13 1 364 1965 estimate Analysis of Government Equity (in thousands of dollars) 200 1,569 550 200 -87 114 114 1 113 200 1965 estimate 1964 1965 estimate estimate 1 114 -113 -1,919 -2,032 1,044 1,569 2,119 2,119 -1,019 -1,556 -1,919 -2,032 13 200 87 24 87 2,119 87 General and special funds: 1963 actual 327 18 345 Program by activities: 1. Issuance, servicing, and retirement of savings bonds.. 2. Issuance, servicing, and retirement of other Treasury securities. 3. Maintenance and audit of public debt 345 accounts 4. Promotion of the sale of savings bonds. 5. Executive direction........... Total program costs, funded. Change in selected resources 1 Total obligations..... 119 119 9 1 155 42 7 7 345 322 25 24 24 0 4.6 $5,273 ADMINISTERING THE PUBLIC DEBT 1964 1965 estimate estimate Program and Financing (in thousands of dollars) BUREAU OF THE PUBLIC DEBT 1963 actual 31,662 9,332 861 6,124 148 30202 48,127 133 48,260 822 822 141 142 11 1 2 589 7 53 8 822 29 28 28 0 4.8 $5,530 753 20 773 773 48,182 -190 47,992 101 102 8 1 2 587 6 51 8 773 21 20 20 0 4.8 $5,587 1964 1965 estimate estimate 31,140 31,694 9,408 917 6,560 157 930 6,711 159 49,150 100 49,250 83,230 873 83,577 85,800 86,500 91,627 90,280 92,200 92,900 For necessary expenses connected with any public-debt issues of the United States, $49,250,000. U.S.C. 258a; 31 U.S.C. 731-774; 12 U.S.C. 391; Treasury Department Approsecurities. This activity covers the same type of func priation Act, 1964.) 2. Issuance, servicing, and retirement of other Treasury tions as described above for all U.S. securities other than savings bonds except that there are, in addition, certain functions related to the processing of interest coupons which are not a part of the savings bonds activity. TREASURY SECURITIES OTHER THAN SAVINGS BONDS 36 48,296 1962 actual 48,296 48,296 2,676 98 2,711 2,521 2,621 This appropriation provides funds for the conduct of all public debt operations and the promotion of the sale of U.S. savings bonds and stamps. 1. Issuance, servicing, and retirement of savings bonds.This activity consists of: (a) procuring, receiving, storing, and distributing bond stocks; (b) issuing bonds and maintaining records relating thereto; (c) adjudicating claims for the replacement or payment of lost, stolen, or mutilated bonds; (d) handling reissues and other transactions incident to servicing outstanding bonds; (e) retiring bonds; and (f) determining and authorizing semiannual interest payments on Series G, H, and K bonds. 1962 actual 1963 2,341 370 1964 1965 estimate estimate UNITED STATES SAVINGS BONDS, SERIES A THROUGH K 47,992 49,250 48,000 49.250 -8 47,992 1964 2,236 285 49,250 1965 2,336 285 1963 1964 1965 actual estimate estimate 86,056 89,433 90,800 91,800 629 506 700 800 3,275 4,008 3,000 3,000 93,947 94,500 95,600 89,960 1965 estimate 1963 1964 estimate actual 2,247 2,175 2,600 2,600 2,618 3,020 3,000 3,000 4,865 5,195 5,600 5,600 3,496 3,382 Checks paid and reconciled from appropriated funds... Checks processed per man-year.... 51 13 636 1,125 17.344 -475 -650 230 16,450 16,450 1964 1965 estimate estimate 1963 3,818 50 36 གིཧྨ*8ཎྜུ 47 485 4 50 14 695 -587 -709 2,361 15,525 1,296 1,279 14,460 7,569 16,700 -675 -500 1964 2,213 50 36 43 466 8 48 15 698 -566 -713 6,290 6,290 1965 852 36 5,406 -1 3,903 2,299 938 2 Reimbursements from non-Federal sources are funds received for services rendered in connection with Federal Reserve currency (31 U.S.C. 157). This office: (a) receives, keeps and disburses the moneys of the United States; (b) processes claims for the proceeds of Government checks; (c) receives, stores, issues, transfers, and retires currency; (d) issues and redeems Government securities; (e) maintains fiscal accounts; and (f) prepares financial statements and reports. 1. Payment and reconciliation of checks.-This consists of maintaining checking accounts of Government disbursing officers and Government-owned corporations; processing documents crediting Government disbursing accounts; performing centralized payment function of all checks drawn on the Treasurer of the United States: reconciling deposits claimed and checks issued as reported by disbursing officers with the deposits credited and checks paid by the Treasurer and determining the outstanding checks in each disbursing account. CHECK VOLUME [In thousands of checks] 1962 1963 1964 1965 actual actual estimate estimate 434,850 452,941 461,797 478,409 1,768 1,969 2,158 2,236 The electronic installation used in paying and reconciling checks is being used to process money orders for the Post Office Department, on a reimbursable basis. It is cur |
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