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 $1,895 thousand as of June 30, 1964, and are expected to increase to $1,970 thousand by June 30, 1965. It is estimated that the creation of this fund has resulted in a savings of over $118 million of insurance premiums on shipments of Government property.

Revenue, Expense, and Retained Earnings (in thousands of dollars)

BUREAU OF CUSTOMS

General and special funds:

SALARIES AND EXPENSES

For necessary expenses of the Bureau of Customs, including purchase of [seventy-five] seventy-four passenger motor vehicles (of which sixty shall be for replacement only) including [sixty-five] sixty-four for police-type use which may exceed by $300 each the general purchase price limitation for the current fiscal year; uniforms or allowances therefor, as authorized by the Act of September 1, 1954, as amended (5 U.S.C. 2131); services as authorized by section 15 of the Act of August 2, 1946 (5 U.S.C. 55a); and awards of compensation to informers as authorized by the Act of August 13, 1953 (22 U.S.C. 401); [$76,550,000 $82,850,000. (5 U.S.C. 118, 118a, 281a; 19 U.S.C. 68, 1524, 1619, 1701; 31 U.S.C. 5296, 530; 46 U.S.C. 1-1334; Treasury-Post Office Appropriation Act, 1965.)

Program and Financing (in thousands of dollars)

The Bureau of Customs collects the duties and taxes on imported merchandise, inspects all international traffic, regulates certain marine and aircraft activities, combats smuggling, undervaluation, and frauds on the customs revenue, and performs related functions in connection with the importation and exportation of merchandise.

Direct obligations are estimated to be $82,850 thousand for 1966, an increase of $6,300 thousand over the amount now appropriated for 1965.

The unobligated balance of $300 thousand is a special fund available to this account when necessary to help pay the expenses of reimbursable customs work pending the collection of receivables from private interests.

A supplemental appropriation is anticipated for separate transmittal.

1. Assessment and collection of duties, taxes, and fees.The collectors of customs assess and collect the duties and taxes on imported merchandise, inspect international traffic, combat smuggling, perform certain marine activities relating to ownership and documentation of vessels of the United States and the movement of vessels in the foreign trade, and enforce the laws of other Government agencies affecting imports and exports.

Packages examined.

Packages sampled..

ministration (77 Stat. 436 and 78 Stat. 655)....

42 Transferred from "Salaries and expenses, Office of the Treasurer" (78 Stat. 212)__

115

Invoices received.

3. Investigations of violations of customs and related laws and regulations.-The customs agents in the United States. and abroad make investigations in the enforcement of the Tariff Act of 1930, the Narcotics Drug Act of 1934, the Gold Reserve Act of 1934, the Export Control Act, and other laws affecting the movement of merchandise into and out of the United States. They also secure market value information for customs appraisers. In fiscal 1964, a total of 20,447 investigations were made. The estimates for 1965 and 1966 are 21,000 and 22,000, respectively.

4. Audit of collection and merchandise accounts.-The comptrollers of customs examine and certify collectors' accounts of receipts and disbursements of money and receipts and disposition of merchandise, and verify collectors' final assessments of duties and taxes, as well as allowances of drawback.

[In thousands]

1 Selected resources as of June 30 are as follows:

1964

Comptrollers' verifications pending at close of year.

2,000

Audit reports made.

BUREAU OF ENGRAVING AND PRINTING

General and special funds:

[AIR CONDITIONING THE BUREAU OF ENGRAVING AND PRINTING BUILDINGS]

[For an additional amount for necessary expenses in connection with air conditioning the Bureau of Engraving and Printing Buildings, $5,750,000, to remain available until expended: Provided, That not to exceed $85,000 of the funds appropriated in this account may be used to compile, print, and publish a history of the first one hundred years of operation of the Bureau of Engraving and Printing.] (Treasury Department Appropriation Act, 1965.)

Program and Financing (in thousands of dollars)

Identification code 15-20-1306-0-1-904

Financing:

1. Plans and specifications

2. Installation of air conditioning.

Receipts and reimbursements from: Administrative budget accounts:

Engraving and Printing Sales:

Revenue..

-16,029 -11,842 -12,358

39

14

Non-Federal sources:

40 New obligational authority (appropriation).

Relation of obligations to expenditures:

72 Obligated balance, start of year..

Engraving and Printing Sales: Revenue...

-10,396 -17,728 -16,693

Other direct charges for miscellaneous

71 Total obligations (affecting expenditures).

54 207

74 Obligated balance, end of year..

-112

Available, start of year.

-78

Obligations in excess of availability,

start of year..

1 Balances of selected resources are identified in the statement of financial condition.

The Bureau of Engraving and Printing designs, manufactures and supplies all major evidences of a financial character issued by the United States. It is the sole source of U.S. currency and Federal Reserve notes, various public debt instruments, and most of the minor evidences of a financial character issued by the United States, such as postage, internal revenue, customs and savings stamps. In addition, the Bureau prints a wide variety of miscellaneous commissions, certificates, etc., as well as postage and revenue stamps for the various territories administered by the United States.

24

Unobligated balance, obligations in excess of availability, end of year____