TREASURY DEPARTMENT OFFICE OF THE SECRETARY General and special funds: SALARIES AND EXPENSES For necessary expenses in the Office of the Secretary, including the operation and maintenance of the Treasury Building and Annex thereof; services as authorized by section 15 of the Act of August 2, 1946 (5 U.S.C. 55a); the purchase of uniforms for elevator operators; and not to exceed $5,000 for official reception and representation expenses; [$5,000,000 $5,580,000. (5 U.S.C. 3, 22, 22(a), 22–1, 1332-15, 241, 242, 244, 245(a), 246, 246(a), 2131, 2201, 2203, 2205; 57 Stat. 230; Reconstruction Finance Corporation Liquidation Act (67 Stat. 231); Treasury Department Appropriation Act, 1964.) Program and Financing (in thousands of dollars) Program by activities: 26 Supplies and materials. 81 3,798 4,186 4,502 48 85 103 116 3,949 280 4,387 314 62 65 31 2. General administrative services.. 3. Operation and maintenance of Treasury buildings..... Change in selected resources. 20 Selected resources as of June 30 are as follows: Unpaid undelivered orders, 1962. $39 thousand; 1963, $59 thousand; 1964, $59 thousand; 1965, $59 thousand This appropriation, in addition to paying the salaries of the Secretary and his assistants, provides for the executive direction of the various functions of the Department, general supervision of the legal activities of the several bureaus, and for general administrative services, including maintenance of the main Treasury Building and its annex, and health services for Treasury employees in Washington, D.C. 3. Operation and maintenance of Treasury buildings.. Financing: Total program costs, funded-obligations.... New obligational authority (proposed supplemental appropriation) – 3 Under existing legislation, 1964.-A supplemental appropriation is anticipated to meet the cost of wage board salary increases. 641 700-100-64 41 Object Classification (in thousands of dollars) 1963 actual 1964 1965 estimate estimate 12 211 2220 222 2 0 5.5 5.5 $5,616 $5,835 1 14 2 Under the provisions of Reorganization Plan No. 1 of 1957, the Reconstruction Finance Corporation was abolished as a corporate entity, and its remaining assets, liabilities, and obligations were transferred to the Secretary of the Treasury, the Administrator of Small Business, the Housing and Home Finance Administrator, and the Administrator of General Services. The Secretary of the Treasury is responsible for completing the liquidation of business loans and securities with individual balances of $250 thousand or more as of June 30, 1957, securities of and loans to railroads, and securities of financial institutions, and for the windup of corporate affairs. Budget program.-Liquidation transactions in 1963 produced net budget receipts of $3.1 million and it is estimated that transactions in 1964 and 1965 will produce net budget 2 receipts of $0.9 and $0.5 million, respectively. 2 Public enterprise funds: LIQUIDATION OF CORPORATE ASSETS The Secretary of the Treasury is hereby authorized to make such expenditures, within the limits of funds and borrowing authority available therefor and in accord with law, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 104 of the Government Corporation Control Act, as amended, as may be necessary in carrying out the programs set forth in the Budget for the current fiscal year for the Reconstruction Finance Corporation Liquidation Activities. July 1. 1963 1957 1964 actual estimate 1965 estimate 4.8 8.5 5.2 4.7 4.6 1.7 643 Revenues and other receipts: Loan repayments.. 109 Revenue... 39 Total revenues and other receipts. Unobligated balance brought forward (authorization to expend from public debt receipts). Recovery of prior year obligations.. 831 249,369 249,620 163 Recovery from acquired asset. 2,000 Unobligated balance carried forward (au Expense.... thorization to expend from public debt -249,369 -249,620-249,844 The Secretary of the Treasury is authorized to purchase securities or make loans (including participations therein and guarantees thereof) to aid in financing projects for civil-defense purposes upon certification by the Secretary of Defense (50 U.S.C. App. 2261, Sec. 104, Reconstruction Finance Corporation Liquidation Act and Executive Order 10952 of July 20, 1961). Investments under the program are limited to a total of $250 million outstanding at any one time. Budget program.-The sole program cost continues to be the payment of interest on borrowings from Treasury. As of June 30, 1963, there were outstanding $583 thousand in loans and $477 thousand in commitments to participate in loans made by banks wherein disbursement of Treasury funds is deferred. It is estimated by the close of 1965 that the loans will be reduced to $510 thousand and the deferred participation commitments to $124 thousand. No new loans were authorized in 1963 and it is anticipated that there will be no additional loans authorized during 1964 and 1965. Financing.-Program activities are financed from borrowings from Treasury. The unobligated balance of such authority at the end of 1965 is estimated to increase slightly to $249.8 million. Revenue, Expense, and Retained Earnings (in thousands of dollars) Undisbursed loan obligations.. Unobligated balance.. 254 608 373 Invested capital and earnings.. 5,997 5,756 285 5,109 6,129 5,394 4,840 5,062 This corporation was abolished October 4, 1961, by Public Law 87-353 (75 Stat. 773), and its remaining assets were transferred to the Secretary of the Treasury. The corporation has been in liquidation for several years, its only remaining activities being the collection of non-interest-bearing notes sold to the Federal land banks on June 30, 1955, paying the proceeds as dividends to the Treasury, and the payment of outstanding bonds payable upon presentation by rightful owners. Revenue, Expense, and Retained Earnings (in thousands of dollars) |