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1. Processing payments.

2. Issuing savings bonds..

3. Processing deposits of withheld tax pay

ments.

4. Financial reporting and maintenance of
the Government's central accounts.

5. Accounting and reporting development

and internal audit..

6. Processing investments, loans, claims,
collections and surety bonds..

7. Supervision of the Federal depositary

system....

8. Executive direction..

1963 actual

Total operating costs.
Unfunded adjustment to total operating costs:
Depreciation included above..........

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
465

1,486

1,428

253

284

192

108

29,360

-209

29,151
1,980
22

1964 1965 estimate estimate

2,002 31,153

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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
-843
32,117 32,904

32,869
-752

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)

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[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

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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
2

7,249
2

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

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Payment of claims: Revenue.. Expense.

Net loss, for the year. Deficit, start of year..

Deficit, end of year.

Assets:

Treasury balance...............

Government equity:
Non-interest-bearing capital:
Start of year...
Appropriation during year.

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

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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
9,656

9,408

917 6,560 157

930 6,711

159

49,150 100

49,250

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83,230

873
7,524

83,577 85,800 86,500
800
800
828
5,875 5,600 5.600

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
[Number of pieces in thousands]

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
[Number of pieces in thousands]

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
4,000 4,000
2,974 3,120 2,000
2,000
6,470 6,502 6,000
6,000

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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

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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
50

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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