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BUREAU OF ACCOUNTS Continued

thousand by June 30, 1963. It is estimated that the creation of this fund has resulted in a savings of over $106 million of insurance premiums on shipments of Government property.

General and special funds-Continued

INTEREST ON UNINVESTED FUNDS--Continued

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ury is appropriated for transfer to the proper trust fund receipt accounts (31 U.S.C. 725S; 2 U.S.C. 158; 20 U.S.C. 54-55, 74a, and 101; 24 U.S.C. 46; various treaties; and 69 Stat. 533).

The following schedule details the interest obligations under this account (in thousands of dollars):

Annual
rate of
interest

(%) Bequest of Gertrude M. Hubbard, Library of Congress...

4 Library of Congress trust fund.

4

179 179 179 Expenses of Smithsonian Institution

6
60 60

60 National Gallery of Art trust fund... 4

200 200 200 Education of the blind...

4
10
10

10 Soldiers' Home permanent fund.

3 2.849 2,900 3,000 Indian tribal funds..

4 7,049 7,850 9,000 Oliver Wendell Holmes devise fund.. 3.5

8

1962 actual

1963 estimate

1964 estimate

Net loss (-) for the year. Deficit ( - ), start of year.

Deficit (-), end of year.

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10,357

104

92

24

Total obligations...

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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. UNITED STATES SAVINGS BONDS, SERIES A THROUGH K

[Number of pieces in thousands)

304

310

871

Personnel Summary

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Issues:

Sales, original issue...
Reissues, exchanges, and claims..

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1963

1964

1962 actual

Retirements:
BUREAU OF THE PUBLIC DEBT

Redemptions.

84,103 88,400 88,400

Reissues, exchanges, claims, and spoils. 7,525 5,600 5,600 General and special funds:

Total..

91.628 94,000 94,000 ADMINISTERING THE PUBLIC DEBT For necessary expenses connected with any public-debt issues of

2. Issuance, servicing, and retirement of other Treasury the United States, [$47,750,000) $48,600,000. (5 U.S.C. 258a; securities. This activity covers the same type of functions 31 U.S.C. 731-774; 12 U.S.C. 391; Treasury Department Appropria as described above for all U.S. securities other than savings tion Act, 1963.)

bonds except that there are, in addition, certain functions Program and Financing (in thousands of dollars)

related to the processing of interest coupons which are not a part of the savings bonds activity.

TREASURY SECURITIES OTHER THAN SAVINGS BONDS estimate estimate

[Number of pieces in thousands) Program by activities:

1962 actual 1963 estimale 1964 eslimate 1. Issuance, servicing, and retirement of

Issues: savings bonds. 31,742 31,843 31,420 Original issue.

2,247 2,700 2,700 2. Issuance, servicing, and retirement of other

Other transactions.

2,618 2,800 2.800 Treasury securities

9,007 9,390 9,497 3. Maintenance and audit of public debt ac

Total....

4,865 5,500 5,500 counts..

769 842 876 4. Promotion of the sale of savings bonds. 5,851 6,171 6,660 Retirements: 5. Executive direction.... 139 142 147 Redemptions...

3,496 4,000 4,000 Other transactions..

2,974 2,000 2,000 Total program costs, funded.

47,508 48,388 48,600 Change in selected resources

-111 -18
Total..

6,470 6,000 6.000 Total obligations

47,397 48,370 48,600

3. Maintenance and audit of public debt accounts.---ConFinancing:

trol accounts are maintained over all transactions affecting Unobligated balance lapsing

587

the public debt. Provision is also made for the audit and New obligational authority

verification of security stocks and the performance of other 47,984 48,370 48,600

internal audit functions.

4. Promotion of the sale of savings bunds.- This activity New obligational authority:

consists of continuous sales promotion efforts using press, Appropriation --

48,000 47,750 48,600 radio, other advertising media and organized groups, augTransferred to "Operating expenses, Public Buildings Service," General Services Ad

mented by concentrated sales campaigns, with strong ministration (75 Stat. 353) (-).

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emphasis on payroll savings plans.

A supplemental appropriation for 1963 is anticipated Appropriation (adjusted)

47,984 47,750 48,600

for separate transmittal. Proposed supplemental due to pay increases.

620

Object Classification (in thousands of dollars)

1

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BUREAU OF THE PUBLIC DEBT-Continued

Program and Financing (in thousands of dollars)

1962 actual

1963 estimate

1

General and special funds-Continued

1962
1963

1964 actual

estimate estimate
ADMINISTERING THE PUBLIC DEBT-Continued
Object Classification (in thousands of dollars)-Continued

Program by activities:
Direct program:

1. Payment and reconciliation of checks... 2,460 2,839 2,322
1964
2. Processing check claims..

2,019 2,242 2,367 estimate 3. General banking services..

453 426 442 4. Retirement of currency-

676

714 727 22 Transportation of things

506 621
575 5. Maintenance of Treasurer's accounts

361

404 420 23 Rent, communications, and utilities. 2,992 2,714 3,017 6. Payment and custody of securities.

337 368 382 24 Printing and reproduction....

562 561 596 7. Procurement and transportation of U.S. Printing of Government securities. 2,114 2,200 2,200

currency.

10,359 10,548 10,836 25 Other services.. 393 283 288 8. Executive direction..

98
144

151 Services of other agencies: Federal Reserve Bank services. 11,667 11,800 11,800

Total direct program costs, funded... 16,764 17,686 17,647 Fees paid to paying agents. 10,528 10,950 10,950 Change in selected resources

-484

-1,236 -847 Post Office..

821 835 835 Reimbursement to Bureau of Engrav

Total direct obligations.

16,280 16,450 16.800 ing and Printing

348 336 336 26 Supplies and materials

510 311 323 Reimbursable program: 31 Equipment.-

210 512 149 1. Payment and reconciliation of:
(a) Checks..

81
61

57 Total obligations... 47,397 48,370 48,600 (b) Postal money orders.

99
422

560 2. Processing check claims.

48
46

47 3. General banking services..

14
14

15 Personnel Summary

4. Retirement of currency

583 626 651

Total reimbursable program costsTotal number of permanent positions.

obligations

825 1,169 1,330 2,938 2,997 2,770 Full-time equivalent of other positions.

3
2
2

Total obligations.
Average number of all employees...

2,766

2,645 2,748

17,105 17,619 18,130 Number of employees at end of year.

2,745 2,725 2,650

Financing: Average GS grade.

4.8 4.8 5.0

Advances and reimbursements from (-)--
Average GS salary

$5,389 $5,679 $5,823
Other accounts...

-228 -529 -664 Non-Federal sources ?

-597 -640 -666 Unobligated balance lapsing

645 Proposed for separate transmittal:

New obligational authority (appropriation) 16,925 16,450 16,800 ADMINISTERING THE PUBLIC DEBT

1 Selected resources as of June 30 are as follows: Program and Financing (in thousands of dollars)

1962

adjust

1961 ments 1962 1963 1964

United States currency (unissued
1962
1963

1964
actual estimate estimate

currency).

5, 761

5, 285 4,050 3, 203 Stores

60

63 63 63 Unpaid undelivered orders.--

73
-5

58 58 58 Program by activities:

Total selected resources

5, 894

5 5, 406 4,171 3, 324 1. Issuance, servicing, and retirement of sav

. Reimbursements from non-Federal sources are funds received for services rendings bonds

190

ered in connection with Federal Reserve currency (31 U.S.C. 157). 4. Promotion of the sale of savings bonds

10

This office (a) receives, keeps and disburses the moneys Total program costs, funded-obliga

of the United States; (b) processes claims for the proceeds tions.--

200

of Government checks; (c) receives, stores, issues, transFinancing:

fers, and retires currency; (d) issues and redeems GovernNew obligational authority (proposed supple

ment securities; (e) maintains fiscal accounts; and (f) premental appropriation).

200

pares financial statements and reports.

1. Payment and reconciliation of checks.—This consists of

maintaining checking accounts of Government disbursing Under existing legislation, 1963.-A supplemental appro officers and Government-owned corporations; processing priation is anticipated to meet postal rate increases in documents crediting Government disbursing accounts; peraccordance with Public Law 87-793, approved October forming centralized payment function of all checks drawn 11, 1962. This amount will be required to cover the

on the Treasurer of the United States; reconciling deposits

claimed and checks issued as reported by disbursing increased cost of mailing savings bonds and promotional officers with the deposits credited and checks paid by the material after January 6, 1963.

Treasurer and determining the outstanding checks in each disbursing account.

Including the checks paid by this activity on a reimOFFICE OF THE TREASURER

bursable basis, approximately 449 million checks were paid

and reconciled in 1962 by the Treasurer in Washington General and special funds:

through the use of electronic equipment. Based on estiSALARIES AND EXPENSES

mates furnished by the various Government agencies, a

check volume of 466 million is expected in 1963 and 482 necessary expenses of the Office of

the Treasurer, [$16,450,000] $16,800,000. (31 U.S.C. 141-155, 157, 545, 548;

million in 1964. 12 U.S.C. 127, 121, 411-422; 5 U.S.C. 258a; Treasury Department

In June 1962 the electronic installation used in paying Appropriation Act, 1963.)

and reconciling checks was used to process the first of the

For

665

1962 actual

1963 estimate

1964 estimate

1962 actual

1963 estimate

1964 eslimate

.96

money orders for the Post Office Department. This

Object Classification (in thousands of dollars)
service is being performed on a reimbursable basis. The
program is scheduled to become fully operative by the
fourth quarter of 1963. It is currently estimated 132
million money orders will be processed in 1963 and 244
million in 1964.

Personnel compensation:
Permanent positions..

5,128 5,600 5,871 2. Processing check claims.- This consists of the proc Other personnel compensation.

72
54

97 essing of all claims for proceeds of Government checks, including the allowance or disallowance of claims against

Total personnel compensation.

5,200 5,654 5,968 the United States and enforcing of claims of the United States against banks, endorsers, principals and sureties or Direct obligations: other parties having liability due to the fraudulent or 11 Personnel compensation.

4,537

4.804 5.006 otherwise improper negotiation of checks.

12 Personnel benefits..

346 366 380 21 Travel and transportation of persons

10
13

13 WORK VOLUME

22 Transportation of things..

453 454 454 23 Rent, communications, and utilities. 1961

921 515 406
actual
24 Printing and reproduction..

45
51

51 Type of case processed:

Purchase of U.S. currency

9,456 Paid check

8,886 9,563
178,086 221,349 223,400 232,300
25 Other services.

53
68

99 Outstanding check 79,475 94,563 98,500 102,300

Services of Federal Reserve banks.

276 303 303 Inquiry and authority. 82,020 69,888 72,400 74,400 26 Supplies and materials.

106
102

102
31 Equipment.
UNIT COSTS

76 888

423 Type of case processed: Paid check

Total direct obligations... $8.69 $7.46 $8.09

16,280 $8.22

16,450 16,800 Outstanding check.

3.94 3.35 3.64

3.69 Inquiry and authority.

Reimbursable obligations:
.82
1.04 1.06
11 Personnel compensation.

663 850 962 3. General banking services.—General banking services

12 Personnel benefits.

49
64

72 are provided for Government accountable officers and for

21 Travel and transportation of persons banks in the District of Columbia.

22 Transportation of things.

4
5

5 23 Rent, communications, and utilities.

38 190 203 24 Printing and reproduction..

6
6

10 WORKLOAD OF MEASURABLE OPERATIONS

25 Other services.

37
40

60
(In thousands)
26 Supplies and materials.

6
10

17
1962 actual 1963 estimate 1964 estimate
31 Equipment.--

10
3

2 Treasury checks and other obligations paid in cash.

Total reimbursable obligations.....

825 1,250 1,300 Commercial checks, drafts and money 1,400

1,169 1,330 orders processed for collection...

Total obligations.6,760

17.105 6,900

18,130 7,100

17,619 4. Retirement of currency.-U.S. currency unfit for further circulation is verified and destroyed by the Federal

Personnel Summary Reserve Banks on a reimbursable basis. Unfit currency received from local sources as well as all mutilated cur

Total number of permanent positions.

1,061 1,061 rency is processed for retirement in Washington. The

Average number of all employees.

960

1,018 1,026 pieces of currency to be destroyed are estimated to be

Number of employees at end of year

998 1,026 1,026 Average GS grade.

5.2 5.2 5.2 1.1 billion in 1963 and in 1964, an increase of approxi- Average GS salary.

$5,350 $5,507 $5,750 mately 5% over 1962.

5. Maintenance of Treasurer's accounts.-Controlling accounts covering receipts and disbursements are maintained for all funds placed in the custody of the Treasurer, Public enterprise funds: and reports are prepared, including the Daily Statement of the United States Treasury and a monthly statement

PAYMENT TO CHECK FORGERY INSURANCE FUND of money held in the Treasury and paper currency in circulation.

To increase the capital of the Check forgery insurance fund, in

accordance with Section 1 of the Act approved November 21, 1941 6. Payment and custody of securities. This consists of (31 U.S.C. 561), $50,000, to remain available until expended. payment of principal and interest on public debt obligations, including those of Government corporations, and

Program and Financing (in thousands of dollars) provision of safekeeping facilities for securities, trust funds and savings bonds.

1963 7. Procurement and transportation of U.S. currency.

estimate All U.S. paper currency is procured by the Treasurer from the Bureau of Engraving and Printing on a reimbursable

Program by activities: basis. The Treasurer is also charged with the cost of

Payment of claims and losses (costs-obliga-
tions) (object class 42).

264 275 300 transportation of this new currency to the Federal Reserve Banks and depositaries.

Financing:
New obligational authority (appropriation).

50 FACTORS DETERMINING REQUIREMENTS

Revenues and other receipts

263 274 298 Unobligated balance brought forward.

40
39

38
[In thousands of notes)
Unobligated balance carried forward (-). - 39

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-86 1962 actual 1963 estimate 1964 estimate 1,030,072 943, 148 990.984 Financing applied to program.

264 275 300 1,089,479 1,089,000 1,089,000

992

1962 actual

1964 estimate

New currency procured.
New currency issued.

OFFICE OF THE TREASURER-Continued

BUREAU OF CUSTOMS

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General and special funds:

SALARIES AND EXPENSES For necessary expenses of the Bureau of Customs, including purchase of [sixty] seventy-five passenger motor vehicles (of which [fifty] sixty shall be for replacement only) including [fifty] sixtyfive 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); [$64,775,000] $76,100,000. (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 Department Appropriation Act, 1963.)

Program and Financing (in thousands of dollars)

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This fund covers settlements on lost or stolen checks which have been paid on forged endorsements. These settlements are financed out of the initial capital of $50 thousand (31 U.S.C. 561). As recoveries are made, these monies are restored to the Fund. The $50 thousand additional capital will allow payees or special endorsees to be paid as soon as their entitlement is determined.

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

Program by activities: 1. Assessment and collection of duties, taxes

and fees. 2. Appraisal of imported merchandise. 3. Investigations of violations of customs and

related laws and regulations.. 4. Audit of collection and merchandise ac

counts. 5. Analysis and identification of merchandise

for tariff purposes. 6. Executive direction..

Total program costs, funded. Change in selected resources ?.

Total obligations...-Financing:

Unobligated balance brought forward (-)--Unobligated balance carried forward..--Unobligated balance lapsing.--.

New obligational authority

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