1 DAILY TREASURY STATEMENT PAGE: 1 Cash and debt operations of the United States Treasury Monday May 19, 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 $ 4,526 $ 4,691 $ 4,955 $ 5,539 Tax and Loan Note Accounts (Table V) 1,927 0 135,752 69,698 Total Operating Balance 6,453 4,691 140,708 75,237 1 DAILY TREASURY STATEMENT PAGE: 2 Cash and debt operations of the United States Treasury Monday May 19, 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) 13 240 4,188 Commodity Credit Corporation programs 37 650 7,672 Customs and Certain Excise Taxes 91 1,121 21,056 Deposits by States: Supplemental Security Income 0 1 2,751 Unemployment 68 12,146 25,050 Education Department programs 31 623 8,683 Energy Department programs 15 197 4,247 Estate and Gift Taxes 81 1,192 19,846 Federal Reserve Earnings 0 1,119 23,629 Foreign Deposits, Military Sales 13 1,154 10,958 FTD's Received (Table IV) 2,036 26,194 366,085 Housing and Urban Development programs 35 356 3,784 Individual Income and Employment Taxes, Not Withheld 378 4,204 346,172 Interest recd from T&L Depositaries 0 76 519 Justice Department programs 9 205 2,539 Postal Service 372 5,352 66,390 Public Debt Cash Issues (Table III-B) 36 270,574 3,158,263 Other Deposits: Air Transport Security Fees 1 11 1,392 Defense Finance & Accounting Service 53 412 5,158 Gas and Oil Lease Sales Proceeds 84 531 6,883 Total Other Deposits 137 1,431 58,066 Change in Balance of Uncollected Funds (closing balance $ 49) 195 315 110 Transfers from Depositaries 8,242 313,102 2,238,432 Total Federal Reserve Account 11,790 640,251 6,368,439 Tax and Loan Note Accounts: FTD's Received (Table IV) 8,869 77,480 1,048,437 Transfers from Federal Reserve Account (Table V) 1,300 101,797 1,122,224 Total Tax and Loan Note Accounts (Table V) 10,169 179,277 2,170,661 Total Deposits (excluding transfers) 12,418 404,629 5,178,444 1 DAILY TREASURY STATEMENT PAGE: 3 Cash and debt operations of the United States Treasury Monday May 19, 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 57 311 20,776 Defense Vendor Payments (EFT) 1,444 16,501 216,933 Education Department programs 925 4,669 60,769 Energy Department programs 58 1,287 17,731 Federal Employees Insurance Payments 133 2,692 35,881 Fed. Highway Administration programs 93 2,328 20,558 Federal Salaries (EFT) 1,221 10,779 101,298 Food and Nutrition Service (misc) 352 3,107 26,191 Food Stamps 22 624 12,185 GSA programs 46 993 10,515 Health and Human Services Grants (misc) 210 3,714 50,300 Housing and Urban Development programs 83 3,432 35,975 Interest on Treasury Securities 3 21,829 119,600 Justice Department programs 42 582 7,699 Labor Dept. prgms (excl. unemployment) 42 692 8,297 Medicaid 1,017 11,289 126,965 Medicare 1,152 26,802 281,683 NASA programs 68 773 9,408 Postal Service Money Orders and Other 285 2,510 31,442 Public Debt Cash Redemp. (Table III-B) 370 300,896 3,034,349 Social Security Benefits (EFT) 45 28,460 311,553 Temporary Assistance for Needy Families (HHS) 28 875 11,630 Unemployment Insurance Benefits 162 1,922 24,564 Veterans Affairs programs 143 1,494 16,770 Other Withdrawals: Deposit Insurance Fund (net) 111 311 456 Emergency Prep & Response (DHS) 53 410 6,013 State Department 369 441 3,225 Thrift Savings Plan Transfer 92 1,271 11,624 Transportation Security Admin. (DHS) 12 95 1,370 Unclassified 2,018 27,879 223,722 Total, Other Withdrawals 2,654 90,322 654,156 Transfers to Depositaries 1,300 101,797 1,122,224 Total Federal Reserve Account 11,956 640,680 6,369,452 Tax and Loan Note Accounts: Transfers to Federal Reserve Account (Table V) 8,242 313,102 2,238,432 Total Withdrawals (excluding transfers) 10,656 538,883 5,247,228 Net Change in Operating Cash Balance 1,762 -134,254 -68,784 1 DAILY TREASURY STATEMENT PAGE: 4 Cash and debt operations of the United States Treasury Monday May 19, 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 -2 201,021 2,326,504 Cash Management Series 0 32,000 265,002 Notes 0 23,076 473,496 Bonds 0 9,231 39,066 Inflation-Protected Securities Increment 411 2,515 10,390 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities: Cash Issue Price 13 251 2,671 Interest Increment 0 535 4,734 Government Account Series 150,445 1,948,488 23,273,648 Domestic Series 0 0 599 Foreign Series 0 0 2,900 State and Local Series 25 5,527 50,459 Other 0 1,061 15,466 Total Issues 150,893 2,223,706 26,464,935 (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 54 628 9,091 Government Account Series 146,316 1,943,505 23,081,795 Domestic Series 0 0 599 Foreign Series 0 1,000 2,000 State and Local Series 315 13,680 68,307 Other 2 1,107 17,266 Total Redemptions 146,687 2,244,402 26,115,728 Net Change in Public Debt Outstanding 4,206 -20,696 349,208 1 DAILY TREASURY STATEMENT PAGE: 5 Cash and debt operations of the United States Treasury Monday May 19, 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) 150,893 2,223,706 26,464,935 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 (-) 150,445 1,948,488 23,273,227 Interest Increment on United States Savings Securities (-) 0 535 4,734 Inflation-Protected Securities Increment 411 2,515 10,092 Total Public Debt Cash Issues Deposited in Federal Reserve Account 36 270,574 3,158,263 Public Debt Cash Redemptions: Public Debt Redemptions (Table III-A) 146,687 2,244,402 26,115,728 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 (-) 146,316 1,943,506 23,081,378 Total Public Debt Cash Redemptions Withdrawn from Federal Reserve Acct. 370 300,896 3,034,349 1 DAILY TREASURY STATEMENT PAGE: 6 Cash and debt operations of the United States Treasury Monday May 19, 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 1/ $ 5,218,614 $ 5,218,571 $ 5,244,195 $ 5,049,306 Intragovernmental Holdings 4,138,247 4,134,084 4,133,363 3,958,348 Total Public Debt Outstanding 9,356,861 9,352,655 9,377,557 9,007,653 Less: Debt Not Subject to Limit: Other Debt 498 498 498 502 Unamortized Discount 64,967 65,164 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 9,277,447 9,273,045 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/The par value of securities held by Treasury under repurchase agreements pl us the inflation compensation, less unamortized discount on bills was $1,04 8 million. 1 DAILY TREASURY STATEMENT PAGE: 7 Cash and debt operations of the United States Treasury Monday May 19, 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 $ 10,570 $ 95,307 $ 1,179,183 Individual Income Taxes 21 336 15,951 Railroad Retirement Taxes 32 318 3,128 Excise Taxes 12 2,716 38,891 Corporation Income Taxes 625 7,489 211,466 Federal Unemployment Taxes 6 201 6,344 Estate and Gift Taxes & Misc IRS Rcpts. 2 44 497 Change in Balance of Unclassified Taxes 28 1,249 1,173 Total 11,296 107,660 1,456,635 These Receipts were deposited in: Federal Reserve Account: Directly 49 2,164 24,915 Collector Depositaries 1,987 24,029 341,170 Tax and Loan Accounts 8,869 77,480 1,048,437 Inter-agency Transfers 390 3,986 42,113 TABLE V Tax and Loan Note Accounts by Depositary Category | ___________________________________________________________________________________________ | | | Type of Depositary | | _________________________________________________________________ | Balance Transactions | | | | | | | A | B | C | Total | ___________________________________________________________________________________________ Opening Balance Today $ 0 $ 0 $ 0 $ 0 Deposits: Taxes Received (Table IV) 4 40 8,825 8,869 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 1,300 Withdrawals: Treasury Initiated 0 0 4,593 4,593 Depositary Initiated 0 2 3,647 3,649 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 0 Repo Investment 0 0 0 0 Closing Balance Today 4 37 586 1,927 1 DAILY TREASURY STATEMENT PAGE: 8 Cash and debt operations of the United States Treasury Monday May 19, 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/$ 192 $ 58,672 $ 287,949 Business 28 1,879 48,011 2/Includes $172 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.