1 DAILY TREASURY STATEMENT PAGE: 1 Cash and debt operations of the United States Treasury Wednesday May 14, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE I Operating Cash Balance | ___________________________________________________________________________________________ | | | Opening balance | | _________________________________________________________________ | Closing | | | This | | Type of account | balance | | This | fiscal | | | today | Today | month | year | ___________________________________________________________________________________________ Federal Reserve Account $ 4,020 $ 5,409 $ 4,955 $ 5,539 Tax and Loan Note Accounts (Table V) 36,683 40,957 135,752 69,698 Total Operating Balance 40,703 46,366 140,708 75,237 1 DAILY TREASURY STATEMENT PAGE: 2 Cash and debt operations of the United States Treasury Wednesday May 14, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE II Deposits and Withdrawals of Operating Cash | ___________________________________________________________________________________________ | | | This | Fiscal | | Deposits | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Federal Reserve Account: Agriculture Loan Repayments (misc) 11 198 4,147 Commodity Credit Corporation programs 32 524 7,546 Customs and Certain Excise Taxes 105 896 20,831 Deposits by States: Supplemental Security Income 0 1 2,750 Unemployment 122 11,920 24,824 Education Department programs 55 532 8,592 Energy Department programs 10 147 4,197 Estate and Gift Taxes 111 853 19,507 Federal Reserve Earnings 786 1,119 23,629 Foreign Deposits, Military Sales 8 1,031 10,835 FTD's Received (Table IV) 3,931 19,270 359,161 Housing and Urban Development programs 29 262 3,689 Individual Income and Employment Taxes, Not Withheld 353 3,328 345,297 Interest recd from T&L Depositaries 2 61 505 Justice Department programs 18 168 2,502 Postal Service 373 4,297 65,335 Public Debt Cash Issues (Table III-B) 51 125,421 3,013,110 Other Deposits: Air Transport Security Fees 1 11 1,391 Gas and Oil Lease Sales Proceeds 118 404 6,756 Total Other Deposits 120 1,293 57,929 Change in Balance of Uncollected Funds (closing balance $ 214) -72 149 -55 Transfers from Depositaries 10,240 246,524 2,171,853 Total Federal Reserve Account 16,284 417,994 6,146,182 Tax and Loan Note Accounts: FTD's Received (Table IV) 4,265 49,895 1,020,852 Transfers from Federal Reserve Account (Table V) 1,700 97,559 1,117,986 Total Tax and Loan Note Accounts (Table V) 5,965 147,454 2,138,838 Total Deposits (excluding transfers) 10,309 221,365 4,995,180 1 DAILY TREASURY STATEMENT PAGE: 3 Cash and debt operations of the United States Treasury Wednesday May 14, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ ___________________________________________________________________________________________ | | | This | Fiscal | | Withdrawals | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Federal Reserve Account: Commodity Credit Corporation programs 35 220 20,685 Defense Vendor Payments (EFT) 1,076 12,911 213,343 Education Department programs 165 3,065 59,165 Energy Department programs 70 938 17,383 Federal Employees Insurance Payments 186 2,087 35,276 Fed. Highway Administration programs 263 1,265 19,495 Federal Salaries (EFT) 173 6,621 97,140 Food and Nutrition Service (misc) 264 2,290 25,374 Food Stamps 44 547 12,108 GSA programs 51 814 10,336 Health and Human Services Grants (misc) 242 2,704 49,290 Housing and Urban Development programs 96 3,135 35,678 Interest on Treasury Securities 2 619 98,390 Justice Department programs 29 460 7,577 Labor Dept. prgms (excl. unemployment) 50 537 8,142 Medicaid 726 8,534 124,210 Medicare 1,597 23,085 277,966 NASA programs 97 610 9,245 Postal Service Money Orders and Other 140 1,919 30,851 Public Debt Cash Redemp. (Table III-B) 123 144,016 2,877,470 Social Security Benefits (EFT) 6,347 28,333 311,426 Temporary Assistance for Needy Families (HHS) 194 702 11,457 Unemployment Insurance Benefits 155 1,543 24,185 Veterans Affairs programs 36 1,132 16,407 Other Withdrawals: International Monetary Fund 788 817 411 IRS Tax Refunds Business (EFT) 87 538 26,538 IRS Tax Refunds Individual (EFT) 1/ 694 30,017 200,104 Transportation Security Admin. (DHS) 7 69 1,343 Unclassified 2,237 22,646 218,489 Total, Other Withdrawals 3,813 73,282 637,115 Transfers to Depositaries 1,700 97,559 1,117,986 Total Federal Reserve Account 17,673 418,929 6,147,701 Tax and Loan Note Accounts: Transfers to Federal Reserve Account (Table V) 10,240 246,524 2,171,853 Total Withdrawals (excluding transfers) 15,973 321,370 5,029,715 Net Change in Operating Cash Balance -5,664 -100,005 -34,534 1/Includes $675 million in Economic Stimulus Payments (EFT). 1 DAILY TREASURY STATEMENT PAGE: 4 Cash and debt operations of the United States Treasury Wednesday May 14, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE III-A Public Debt Transactions | ___________________________________________________________________________________________ | | | This | Fiscal | | Issues | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Marketable: Bills: Regular Series 0 121,016 2,246,499 Cash Management Series 0 0 233,002 Notes 0 -2 450,418 Bonds 0 0 29,836 Inflation-Protected Securities Increment 137 1,829 9,704 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities: Cash Issue Price 9 213 2,632 Interest Increment 0 534 4,734 Government Account Series 144,144 1,497,267 22,822,426 Domestic Series 0 0 599 Foreign Series 0 0 2,900 State and Local Series 42 3,839 48,771 Other 0 916 15,321 Total Issues 144,332 1,625,612 25,866,842 (Stated at face value except for savings and retirement plan securities which are stated at current redemption value.) ___________________________________________________________________________________________ | | | This | Fiscal | | Redemptions | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Marketable: Bills 0 130,693 2,421,543 Notes 0 0 351,207 Bonds 0 0 10,131 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities 47 493 8,956 Government Account Series 150,395 1,494,597 22,632,887 Domestic Series 0 0 599 Foreign Series 0 1,000 2,000 State and Local Series 75 10,853 65,481 Other 0 977 17,137 Total Redemptions 150,518 1,638,615 25,509,940 Net Change in Public Debt Outstanding -6,185 -13,003 356,901 1 DAILY TREASURY STATEMENT PAGE: 5 Cash and debt operations of the United States Treasury Wednesday May 14, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE III-B Adjustment of Public Debt Transactions to Cash Basis | ___________________________________________________________________________________________ | | | This | Fiscal | | Transactions | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Public Debt Cash Issues: Public Debt Issues (Table III-A) 144,332 1,625,612 25,866,842 Premium on New Issues 0 0 815 Discount on New Issues: Bills (-) 0 561 17,195 Bonds and Notes (-) 0 0 1,206 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 144,144 1,497,267 22,822,005 Interest Increment on United States Savings Securities (-) 0 534 4,734 Inflation-Protected Securities Increment 137 1,829 9,407 Total Public Debt Cash Issues Deposited in Federal Reserve Account 51 125,421 3,013,110 Public Debt Cash Redemptions: Public Debt Redemptions (Table III-A) 150,518 1,638,615 25,509,940 Premium on Debt Buyback Operation 0 0 0 Discount on Debt Buyback Operation (-) 0 0 0 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 150,395 1,494,599 22,632,470 Total Public Debt Cash Redemptions Withdrawn from Federal Reserve Acct. 123 144,016 2,877,470 1 DAILY TREASURY STATEMENT PAGE: 6 Cash and debt operations of the United States Treasury Wednesday May 14, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE III-C Debt Subject to Limit | ___________________________________________________________________________________________ | | | Opening balance | | _________________________________________________________________ | Closing | | | Fiscal | | Balance Transactions | balance | | This | year | | | today | Today | month | | ___________________________________________________________________________________________ Debt Held by the Public 2/ $ 5,228,442 $ 5,228,246 $ 5,244,195 $ 5,049,306 Intragovernmental Holdings 4,136,113 4,142,494 4,133,363 3,958,348 Total Public Debt Outstanding 9,364,555 9,370,740 9,377,557 9,007,653 Less: Debt Not Subject to Limit: Other Debt 498 498 498 502 Unamortized Discount 64,712 64,776 64,543 71,877 Federal Financing Bank 14,000 14,000 14,000 14,000 Plus: Other Debt Subject to Limit Guaranteed Debt of Government Agencies 51 51 50 69 Total Public Debt Subject to Limit 9,285,396 9,291,517 9,298,567 8,921,343 Statutory Debt Limit 9,815,000 9,815,000 9,815,000 9,815,000 Act of September 29, 2007, permanently increased the statutory debt limit to $9,815 billion. Unamortized Discount represents the discount adjustment on Treasury bills and zero-coupon bonds (amortization is calculated daily). 2/The par value of securities held by Treasury under repurchase agreements pl us the inflation compensation, less unamortized discount on bills was $1,48 1 million. 1 DAILY TREASURY STATEMENT PAGE: 7 Cash and debt operations of the United States Treasury Wednesday May 14, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE IV Federal Tax Deposits | ___________________________________________________________________________________________ | | | This | Fiscal | | Classification | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Withheld Income and Employment Taxes $ 6,161 $ 67,935 $ 1,151,812 Individual Income Taxes 42 148 15,764 Railroad Retirement Taxes 10 226 3,036 Excise Taxes 1,617 2,420 38,596 Corporation Income Taxes 469 1,129 205,106 Federal Unemployment Taxes 6 184 6,327 Estate and Gift Taxes & Misc IRS Rcpts. 4 27 480 Change in Balance of Unclassified Taxes 43 265 189 Total 8,351 72,334 1,421,310 These Receipts were deposited in: Federal Reserve Account: Directly 626 1,941 24,692 Collector Depositaries 3,306 17,329 334,469 Tax and Loan Accounts 4,265 49,895 1,020,852 Inter-agency Transfers 154 3,170 41,297 TABLE V Tax and Loan Note Accounts by Depositary Category | ___________________________________________________________________________________________ | | | Type of Depositary | | _________________________________________________________________ | Balance Transactions | | | | | | | A | B | C | Total | ___________________________________________________________________________________________ Opening Balance Today $ 66 $ 625 $ 809 $ 40,957 Deposits: Taxes Received (Table IV) 6 63 4,197 4,265 Transfers to Depositaries 0 0 0 0 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 0 Repo Investment 0 0 0 1,700 Withdrawals: Treasury Initiated 0 0 1,554 1,555 Depositary Initiated 3 47 2,020 2,071 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 4,915 Repo Investment 0 0 0 1,700 Closing Balance Today 70 640 1,431 36,683 1 DAILY TREASURY STATEMENT PAGE: 8 Cash and debt operations of the United States Treasury Wednesday May 14, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE VI Income Tax Refunds Issued | ___________________________________________________________________________________________ | | | This | Fiscal | | Classification | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Individual 3/$ 1,032 $ 42,386 $ 271,663 Business 121 1,796 47,927 3/Includes $905 million for payments issued in accordance with provisions of the Economic Stimulus Act of 2008 (PL 110-185). This statement summarizes the United States Treasury's cash and debt operations for the Federal Government. Treasury's operating cash is maintained in an account at the Federal Reserve Bank of New York and in Tax and Loan accounts at commercial banks. Major information sources include: Federal Reserve Banks, Treasury Regional Financial Centers, Internal Revenue Service Centers, Bureau of the Public Debt and various electronic systems. Information is presented on a modified cash basis. Deposits are reflected as received and withdrawals are reflected as processed. SOURCE: Financial Management Service, Department of the Treasury Note: The Daily Treasury Statement (DTS) is available by 4:00 p.m. the following business day on the Financial Management Service (FMS) website www.fms.treas.gov/dts. For more information, call the Cash Forecasting Division at 202-874-9790. The DTS is also available on the Department of Commerce's "State of the Nation" website: http://www.stat-usa.gov/sotn. For more information regarding this system, please call 202-482-1986.