1 DAILY TREASURY STATEMENT PAGE: 1 Cash and debt operations of the United States Treasury Friday May 16, 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 $ 4,691 $ 2,973 $ 4,955 $ 5,539 Tax and Loan Note Accounts (Table V) 0 4,730 135,752 69,698 Total Operating Balance 4,691 7,703 140,708 75,237 1 DAILY TREASURY STATEMENT PAGE: 2 Cash and debt operations of the United States Treasury Friday May 16, 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) 10 227 4,175 Commodity Credit Corporation programs 45 614 7,635 Customs and Certain Excise Taxes 71 1,030 20,965 Deposits by States: Supplemental Security Income 0 1 2,751 Unemployment 67 12,079 24,983 Education Department programs 39 592 8,652 Energy Department programs 11 182 4,232 Estate and Gift Taxes 133 1,111 19,765 Federal Reserve Earnings 0 1,119 23,629 Foreign Deposits, Military Sales 19 1,140 10,944 FTD's Received (Table IV) 2,190 24,157 364,049 Housing and Urban Development programs 26 321 3,749 Individual Income and Employment Taxes, Not Withheld 242 3,825 345,794 Interest recd from T&L Depositaries 0 76 519 Justice Department programs 11 196 2,530 Postal Service 330 4,980 66,018 Public Debt Cash Issues (Table III-B) 114 270,538 3,158,226 Other Deposits: Total Other Deposits 0 1,293 57,929 Change in Balance of Uncollected Funds (closing balance $ 244) -26 120 -85 Transfers from Depositaries 16,076 304,860 2,230,190 Total Federal Reserve Account 19,358 628,461 6,356,649 Tax and Loan Note Accounts: FTD's Received (Table IV) 11,347 68,611 1,039,568 Transfers from Federal Reserve Account (Table V) 0 100,497 1,120,924 Total Tax and Loan Note Accounts (Table V) 11,347 169,108 2,160,492 Total Deposits (excluding transfers) 14,628 392,211 5,166,026 1 DAILY TREASURY STATEMENT PAGE: 3 Cash and debt operations of the United States Treasury Friday May 16, 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 9 254 20,719 Defense Vendor Payments (EFT) 804 15,057 215,489 Education Department programs 404 3,744 59,844 Energy Department programs 174 1,229 17,673 Federal Employees Insurance Payments 159 2,559 35,749 Fed. Highway Administration programs 95 2,235 20,464 Federal Salaries (EFT) 2,669 9,559 100,077 Food and Nutrition Service (misc) 233 2,755 25,839 Food Stamps 9 603 12,163 GSA programs 30 947 10,469 Health and Human Services Grants (misc) 300 3,504 50,090 Housing and Urban Development programs 118 3,349 35,892 Interest on Treasury Securities 7 21,827 119,598 Justice Department programs 42 539 7,657 Labor Dept. prgms (excl. unemployment) 53 649 8,255 Medicaid 804 10,272 125,948 Medicare 1,369 25,650 280,532 NASA programs 38 705 9,340 Postal Service Money Orders and Other 171 2,224 31,156 Public Debt Cash Redemp. (Table III-B) 436 300,525 3,033,979 Social Security Benefits (EFT) 43 28,415 311,508 Temporary Assistance for Needy Families (HHS) 40 847 11,602 Unemployment Insurance Benefits 95 1,760 24,402 Veterans Affairs programs 134 1,351 16,626 Other Withdrawals: Federal Financing Bank (net) 86 165 -290 Interior 56 599 7,653 IRS Tax Refunds Individual (EFT) 1/ 7,876 38,363 208,451 Transportation Security Admin. (DHS) 8 84 1,358 Unclassified 1,377 25,861 221,704 Total, Other Withdrawals 9,404 87,669 651,502 Transfers to Depositaries 0 100,497 1,120,924 Total Federal Reserve Account 17,639 628,724 6,357,496 Tax and Loan Note Accounts: Transfers to Federal Reserve Account (Table V) 16,076 304,860 2,230,190 Total Withdrawals (excluding transfers) 17,639 528,227 5,236,572 Net Change in Operating Cash Balance -3,011 -136,016 -70,546 1/Includes $6,641 million in Economic Stimulus Payments (EFT). 1 DAILY TREASURY STATEMENT PAGE: 4 Cash and debt operations of the United States Treasury Friday May 16, 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 0 201,023 2,326,506 Cash Management Series 0 32,000 265,002 Notes 0 23,076 473,496 Bonds 0 9,231 39,066 Inflation-Protected Securities Increment 137 2,103 9,979 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities: Cash Issue Price 15 238 2,658 Interest Increment 0 535 4,734 Government Account Series 147,965 1,798,043 23,123,203 Domestic Series 0 0 599 Foreign Series 0 0 2,900 State and Local Series 99 5,502 50,434 Other 0 1,061 15,466 Total Issues 148,216 2,072,813 26,314,043 (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 0 197,244 2,488,094 Notes 0 87,237 438,444 Bonds 0 0 10,131 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities 41 575 9,037 Government Account Series 147,412 1,797,189 22,935,479 Domestic Series 0 0 599 Foreign Series 0 1,000 2,000 State and Local Series 385 13,365 67,992 Other 10 1,105 17,265 Total Redemptions 147,848 2,097,715 25,969,041 Net Change in Public Debt Outstanding 368 -24,902 345,002 1 DAILY TREASURY STATEMENT PAGE: 5 Cash and debt operations of the United States Treasury Friday May 16, 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) 148,216 2,072,813 26,314,043 Premium on New Issues 0 0 815 Discount on New Issues: Bills (-) 0 1,142 17,776 Bonds and Notes (-) 0 452 1,658 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 147,965 1,798,043 23,122,782 Interest Increment on United States Savings Securities (-) 0 535 4,734 Inflation-Protected Securities Increment 137 2,103 9,681 Total Public Debt Cash Issues Deposited in Federal Reserve Account 114 270,538 3,158,226 Public Debt Cash Redemptions: Public Debt Redemptions (Table III-A) 147,848 2,097,715 25,969,041 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 (-) 147,412 1,797,190 22,935,062 Total Public Debt Cash Redemptions Withdrawn from Federal Reserve Acct. 436 300,525 3,033,979 1 DAILY TREASURY STATEMENT PAGE: 6 Cash and debt operations of the United States Treasury Friday May 16, 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 $ 5,218,571 $ 5,218,557 $ 5,244,195 $ 5,049,306 Intragovernmental Holdings 4,134,084 4,133,730 4,133,363 3,958,348 Total Public Debt Outstanding 9,352,655 9,352,287 9,377,557 9,007,653 Less: Debt Not Subject to Limit: Other Debt 498 498 498 502 Unamortized Discount 65,164 65,229 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 9,273,045 9,272,612 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). 1 DAILY TREASURY STATEMENT PAGE: 7 Cash and debt operations of the United States Treasury Friday May 16, 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 $ 12,694 $ 84,736 $ 1,168,613 Individual Income Taxes 25 315 15,931 Railroad Retirement Taxes 55 286 3,097 Excise Taxes 160 2,703 38,879 Corporation Income Taxes 262 6,864 210,841 Federal Unemployment Taxes 4 196 6,339 Estate and Gift Taxes & Misc IRS Rcpts. 5 42 495 Change in Balance of Unclassified Taxes 691 1,221 1,145 Total 13,896 96,364 1,445,339 These Receipts were deposited in: Federal Reserve Account: Directly 121 2,115 24,866 Collector Depositaries 2,069 22,042 339,183 Tax and Loan Accounts 11,347 68,611 1,039,568 Inter-agency Transfers 360 3,595 41,722 TABLE V Tax and Loan Note Accounts by Depositary Category | ___________________________________________________________________________________________ | | | Type of Depositary | | _________________________________________________________________ | Balance Transactions | | | | | | | A | B | C | Total | ___________________________________________________________________________________________ Opening Balance Today $ 7 $ 57 $ 1,728 $ 4,730 Deposits: Taxes Received (Table IV) 9 77 11,260 11,347 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 0 Withdrawals: Treasury Initiated 16 122 7,647 7,785 Depositary Initiated 1 12 5,341 5,354 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 2,938 Repo Investment 0 0 0 0 Closing Balance Today 0 0 0 0 1 DAILY TREASURY STATEMENT PAGE: 8 Cash and debt operations of the United States Treasury Friday May 16, 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 2/$ 15,357 $ 58,480 $ 287,757 Business 15 1,851 47,983 2/Includes $10,547 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.