Department of the Treasury Bureau of the Fiscal Service ...

[Pages:29]Department of the Treasury Bureau of the Fiscal Service

Congressional Budget Justification and Annual Performance Report and Plan

FY 2019

Table of Contents

Section I ? Budget Request........................................................................................................... 3 A ? Mission Statement................................................................................................................ 3 B ? Summary of the Request ...................................................................................................... 3 1.1 ? Appropriations Detail Table .............................................................................................. 5 1.2 ? Budget Adjustments Table................................................................................................. 5 C ? Budget Increases and Decreases Description....................................................................... 5 1.3 ? Operating Levels Table...................................................................................................... 7 D ? Appropriations Language and Explanation of Changes ...................................................... 8 1.4 ? Permanent, Indefinite Appropriations Table...................................................................... 9 E ? Legislative Proposals............................................................................................................ 9

Section II ? Annual Performance Plan and Report ................................................................. 12 A ? Strategic Alignment ........................................................................................................... 12 B ? Budget and Performance by Budget Activity .................................................................... 16 2.1.1 ? Accounting and Reporting Resources and Measures.................................................... 16 2.1.2 ? Collections Resources and Measures............................................................................ 18 2.1.3 ? Payments Resources and Measures .............................................................................. 19 2.1.4 ? Retail Securities Services Resources and Measures ..................................................... 22 2.1.5 ? Wholesale Securities Services Resources and Measures.............................................. 23 2.1.6 ? Debt Collection Resources and Measures..................................................................... 24 C ? Changes in Performance Measures .................................................................................... 26

Section III ? Additional Information ........................................................................................ 28 A ? Summary of Capital Investments ....................................................................................... 28

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Section I ? Budget Request

A ? Mission Statement Promote the financial integrity and operational efficiency of the Federal Government through exceptional accounting, financing, collections, payments, and shared services.

B ? Summary of the Request Fiscal Service's multi-faceted mission supports the Federal Government's National Financial Critical Infrastructure. Fiscal Service continues to work with the Federal financial community to identify improvements to core programs and streamline operations Government-wide. The bureau's vision to "Transform financial management and the delivery of shared services in the Federal Government" and commitment to deliver strong leadership and exceptional operations align with Treasury's Strategic Goal 4 (Transform Government-wide Financial Stewardship) and Goal 5 (Achieve Operational Excellence) as follows: Provides Government-wide accounting and reporting services to include managing the

Federal Government's daily cash flows, accounting for the public debt, and publishing the Daily and Monthly Treasury statements as well as the Financial Report of the U.S. Government Operates the Federal Government's collections and deposit systems by managing the Electronic Federal Tax Payment System (EFTPS) and implementing new and cutting edge tools to allow taxpayers, national park visitors, and others to pay taxes, entrance fees, and fines owed to the Federal Government electronically Provides centralized payment services to Federal agencies by annually disbursing 87 percent of the Government's payments to include Veterans' benefits, Social Security benefits, and Internal Revenue Service tax refunds, educating unbanked and underbanked Federal benefit recipients on the many electronic payment options available, and working with law enforcement to identify fraudulent activity and recover associated funds Offers investors the ability to buy and manage Treasury securities online via the TreasuryDirect system through which Treasury savings bonds, among other securities, may be purchased, tracked, and redeemed electronically Borrows the money needed to operate the Federal Government by performing auctions through which investors have the opportunity to purchase Treasury securities Manages the collection of delinquent debt owed to the Federal Government by operating two programs, the Treasury Offset Program (TOP) and Cross-Servicing Program, to which Federal agencies are legally required to submit most debts delinquent for 120 days for collection action

Fiscal Service, through efficient and effective management of these critical programs, demonstrates high performance and achieves outcomes and results that include: Financing Federal operations by collecting over $4 trillion in revenues Securely and timely disbursing 1.2 billion Federal payments, totaling more than $3.4 trillion,

with 95.1 percent delivered electronically Making available $8.6 trillion to fund critical daily Federal Government operations Developing the new site using a single, Government-wide data schema

resulting in the first Digital Accountability and Transparency Act (DATA Act) submission,

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with data from all 24 Chief Financial Officer Act agencies, timely published on the new spending transparency website In FY 2019, the Fiscal Service plans to accomplish many things with this budget request. Some of these goals include: Activities that support the President's Management Council Mission Support Services Initiatives such as: Maximizing electronic payments Centralizing Federal disbursing Supporting reductions Government-wide improper payments Expanding electronic invoicing through the Invoice Processing Platform (IPP) Expanding and digitizing receivables using the Centralized Receivables Service (CRS) Reducing collections lockboxes and increase digitization Continuing to provide operational excellence to customers daily, which includes more than 200 agencies and all American taxpayers Implementing Financial Management Innovation Pilots to support the Fiscal Service vision to transform financial management Expanding eCommerce collections solutions to allow all American citizens to do business with the Federal Government in a more efficient and effective manner

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1.1 ? Appropriations Detail Table

Dollars in Thousands

Fiscal Service

FY 2017

FY 2018

FY 2019

FY 2018 to FY 2019

Appropriated Resources

Enacted*

Annualized CR

Request

Change

% Change

New Appropriated Resources

FTE AMOUNT

FTE AMOUNT

FTE AMOUNT FTE AMOUNT

FTE AMOUNT

Accounting and Reporting

439 $108,312

441 $107,576

437

$92,296 (4) ($15,280) -0.91%

-14.20%

Collections

159

$36,197

159

$35,951

158

$35,232 (1)

($719) -0.63%

-2.00%

Payments

557 $126,685

561 $125,825

556 $120,743

(5)

($5,082) -0.89%

-4.04%

Retail Securities Services

441

$62,559

454

$62,134

439

$62,297 (15)

$163

-3.30%

0.26%

Wholesale Securities Services

78

$19,304

78

$19,173

78

$20,269 -

$1,096

0.00%

5.72%

Subtotal New Appropriated Resources

$1,674 $353,057 1,693 $350,659 1,668 $330,837 (25) ($19,822) -1.48%

-5.65%

Other Resources

Reimbursables

420 $336,076

427 $377,980

431 $421,267

4

$43,287

0.94%

11.45%

Subtotal Other Resources

420 $336,076

427 $377,980

431 $421,267

4

$43,287

0.94%

11.45%

Total Budgetary Resources

2,094 $689,133 2,120 $728,639 2,099 $752,104 (21) $23,465

-0.99%

3.22%

* This column reflects levels appropriated in H.R. 255, the Consolidated Appropriations Act of 2017, for further details on the execution of these resources see the 2019 Budget Appendix chapter for the Department of the Treasury. FY 2017 FTE and Reimbursables are actuals.

1.2 ? Budget Adjustments Table

Dollars in Thousands

Fiscal Service

FTE Am ount

FY 2018 Annualized CR

1,693 $350,659

Changes to Base:

Maintaining Current Levels (MCLs):

0

$3,286

Pay Annualization

0

$1,038

Non-Pay

0

$2,248

Adjustments to Base:

(13) ($19,822)

Prior Program Decreases

(13) ($19,822)

Subtotal Changes to Base

(13) ($16,536)

Total FY 2019 Base

1,680 $334,123

Program Changes:

Program Decreases

(12) ($3,286)

my RA

(12)

($600)

Mission Support

0

($2,686)

Total FY 2019 President's Budget

1,668 $330,837

Note: Prior program decreases include reductions to all budget activities identified in the FY 2018 President's Budget

C ? Budget Increases and Decreases Description Maintaining Current Levels (MCLs) ...................................................... +$3,286,000 / +0 FTE Pay Annualization +$1,038,000 / +0 FTE Funds are requested for annualization of the January 2018 pay raise.

Non-Pay +$2,248,000 / +0 FTE Funds are requested for inflationary adjustments to non-labor costs such as travel, contracts, rent, supplies, and equipment.

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Prior Program Decreases -$19,822,000 / -13 FTE Prior program decreases include reductions to Accounting and Reporting, Collections, Payments, Retail Securities Services, Support Services, and Streamlining Staff/Other Efficiencies as first proposed in the FY 2018 President's Budget. Program Decreases .................................................................................. -$3,286,000 / -12 FTE myRA -$600,000 / -12 FTE This reduction and savings are a result of the plan to wind down the myRA program. Mission Support -$2,686,000 / +0 FTE Fiscal Service will delay implementation of customer self-service portals, on-line chat portals, and other mission support contracts impacting all budget activities and customers.

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1.3 ? Operating Levels Table

Dollars in Thousands Fiscal Service

Object Classification 11.1 - Full-time permanent 11.3 - Other than full-time permanent 11.5 - Other personnel compensation 11.8 - Special personal services payments 11.9 - Personnel Compensation (Total) 12.0 - Personnel benefits 13.0 - Benefits for former personnel Total Personnel and Compensation Benefits 21.0 - Travel and transportation of persons 22.0 - Transportation of things 23.0 - Rent, Communications and Utilities 23.1 - Rental payments to GSA 23.2 - Rental payments to others 23.3 - Communications, utilities, and miscellaneous charges 24.0 - Printing and reproduction 25.0 - Other contractual services 25.1 - Advisory and assistance services 25.2 - Other services from non-Federal sources 25.3 - Other goods and services from Federal sources 25.4 - Operation and maintenance of facilities 25.7 - Operation and maintenance of equipment 26.0 - Supplies and materials 31.0 - Equipment 32.0 - Land and structures Total Non-Personnel New Budgetary Resources

FY 2017

FY 2018

Enacted* Annualized CR

148,909

146,909

339

524

4,806

4,806

0

23,879

154,054

176,118

50,242

49,242

100

3,100

$204,396

$228,460

2,465

2,465

125

125

40,624

29,373

37,111

21,373

10

445

3,503

7,555

252

250

94,527

79,318

37,084

35,717

14,379

14,379

40,436

26,436

1,183

1,183

1,445

1,603

4,021

4,021

4,990 1,657

4,990 1,657

$148,661

$122,199

$353,057

$350,659

FY 2019

Request 140,273

524 5,853 23,879 170,529 48,241

100 $218,869

2,021 121

29,072 21,192

100 7,780

237 71,485 30,818 14,122 23,806

995 1,744 3,843 4,234

955 $111,968 $330,837

FTE

1,674

1,693

1,668

* This column reflects levels appropriated in H.R. 255, the Consolidated Appropriations Act of 2017, for further details on the execution of these resources see the 2019 Budget Appendix chapter for the Department of the Treasury. FY 2017 FTE is actual.

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D ? Appropriations Language and Explanation of Changes

Appropriations Language DEPARTMENT OF THE TREASURY BUREAU OF THE FISCAL SERVICE

Federal Funds

Explanation of Changes

SALARIES AND EXPENSES

For necessary expenses of operations of the Bureau of the Fiscal Service, $330,837,000; of which not to exceed $4,210,000, to remain available until September 30, 2021, is for information systems modernization initiatives; and of which $5,000 shall be available for official reception and representation expenses. In addition, $165,000, to be derived from the Oil Spill Liability Trust Fund to reimburse administrative and personnel expenses for financial management of the Fund, as authorized by section 1012 of Public Law 101?380. Note.--A full-year 2018 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Act, 2018 (Division D of P.L. 115?56, as amended). The amounts included for 2018 reflect the annualized level provided by the continuing resolution.

Federal Reserve Bank Permanent, Indefinite Appropriation The Federal Reserve Banks (FRBs) act as fiscal agents of the United States when directed by the Secretary of the Treasury in accordance with 12 U.S.C. 391. Under this account, the FRBs support fiscal operations unrelated to the administration of the public debt and provide banking and financial services on behalf of the United States Treasury. Specifically, this account supports the accounting and reporting, collections, and payments programs. These, and other programs, are vital to the National Financial Critical Infrastructure, Fiscal Service's strategic goals, and the expansion of E-Government efforts to reduce costs, improve accuracy and increase options available to citizens to conduct transactions with the Federal Government. Claims for reimbursements are closely monitored for compliance with the Instructions for Filing Reimbursement Claims for Fiscal Agent Services provided to Fiscal Service. Fiscal Service estimates that the cost of FRB services for FY 2019 will be approximately $608.0 million.

Reimbursements to the Federal Reserve Banks Public Law 101-509, 104 Stat. 1389, 1394 (1990), established a permanent, indefinite appropriation to pay such sums as necessary to reimburse the FRBs for acting as fiscal agents. This account was further defined in FY 1992 to solely support those activities related to the administration of the public debt. Claims for reimbursements are closely monitored for compliance with the Instructions for Filing Reimbursement Claims for Fiscal Agent Services provided to Fiscal Service. Funding for FY 2019 is estimated at $157.5 million.

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