1 DAILY TREASURY STATEMENT PAGE: 1 Cash and debt operations of the United States Treasury Tuesday May 20, 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 $ 4,797 $ 4,526 $ 4,955 $ 5,539 Tax and Loan Note Accounts (Table V) 13,584 1,927 135,752 69,698 Total Operating Balance 18,381 6,453 140,708 75,237 1 DAILY TREASURY STATEMENT PAGE: 2 Cash and debt operations of the United States Treasury Tuesday May 20, 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) 18 258 4,206 Commodity Credit Corporation programs 50 701 7,722 Customs and Certain Excise Taxes 122 1,243 21,178 Deposits by States: Supplemental Security Income 0 2 2,751 Unemployment 59 12,205 25,109 Education Department programs 50 672 8,733 Energy Department programs 39 236 4,286 Estate and Gift Taxes 32 1,224 19,878 Federal Reserve Earnings 0 1,119 23,629 Foreign Deposits, Military Sales 11 1,165 10,968 FTD's Received (Table IV) 569 26,763 366,654 Housing and Urban Development programs 43 399 3,827 Individual Income and Employment Taxes, Not Withheld 387 4,591 346,559 Interest recd from T&L Depositaries 0 76 519 Justice Department programs 13 218 2,551 Postal Service 422 5,774 66,812 Public Debt Cash Issues (Table III-B) 18,331 288,905 3,176,594 Other Deposits: Air Transport Security Fees 1 13 1,394 Gas and Oil Lease Sales Proceeds 102 632 6,985 Medicare Premiums 212 692 12,142 Minerals Management Svc/Collections 174 268 7,448 Total Other Deposits 488 1,919 58,554 Change in Balance of Uncollected Funds (closing balance $ 157) -109 206 1 Transfers from Depositaries 1,559 314,661 2,239,991 Total Federal Reserve Account 22,083 662,334 6,390,522 Tax and Loan Note Accounts: FTD's Received (Table IV) 1,056 78,536 1,049,493 Transfers from Federal Reserve Account (Table V) 12,159 113,956 1,134,383 Total Tax and Loan Note Accounts (Table V) 13,215 192,492 2,183,876 Total Deposits (excluding transfers) 21,580 426,209 5,200,024 1 DAILY TREASURY STATEMENT PAGE: 3 Cash and debt operations of the United States Treasury Tuesday May 20, 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 14 325 20,790 Defense Vendor Payments (EFT) 1,883 18,384 218,816 Education Department programs 200 4,868 60,968 Energy Department programs 54 1,341 17,785 Federal Employees Insurance Payments 246 2,939 36,128 Fed. Highway Administration programs 181 2,509 20,739 Federal Salaries (EFT) 459 11,238 101,757 Food and Nutrition Service (misc) 171 3,278 26,362 Food Stamps 7 631 12,192 GSA programs 36 1,029 10,551 Health and Human Services Grants (misc) 500 4,214 50,800 Housing and Urban Development programs 80 3,512 36,055 Interest on Treasury Securities 2 21,831 119,602 Justice Department programs 22 604 7,721 Labor Dept. prgms (excl. unemployment) 44 735 8,341 Medicaid 439 11,729 127,404 Medicare 1,406 28,208 283,089 NASA programs 53 826 9,461 Postal Service Money Orders and Other 175 2,685 31,617 Public Debt Cash Redemp. (Table III-B) 170 301,065 3,034,519 Social Security Benefits (EFT) 41 28,501 311,594 Temporary Assistance for Needy Families (HHS) 40 915 11,671 Unemployment Insurance Benefits 196 2,118 24,760 Veterans Affairs programs 73 1,567 16,843 Other Withdrawals: State Department 302 743 3,527 Thrift Savings Plan Transfer 75 1,346 11,698 Transportation Security Admin. (DHS) 1 96 1,371 USDA: Forest Service 83 166 1,786 Unclassified 2,699 30,577 226,420 Total, Other Withdrawals 3,160 93,482 657,315 Transfers to Depositaries 12,159 113,956 1,134,383 Total Federal Reserve Account 21,812 662,492 6,391,264 Tax and Loan Note Accounts: Transfers to Federal Reserve Account (Table V) 1,559 314,661 2,239,991 Total Withdrawals (excluding transfers) 9,653 548,536 5,256,881 Net Change in Operating Cash Balance 11,927 -122,327 -56,857 1 DAILY TREASURY STATEMENT PAGE: 4 Cash and debt operations of the United States Treasury Tuesday May 20, 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 0 201,021 2,326,504 Cash Management Series 18,000 50,001 283,003 Notes 0 23,076 473,496 Bonds 0 9,231 39,066 Inflation-Protected Securities Increment 137 2,652 10,527 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities: Cash Issue Price 6 258 2,678 Interest Increment 0 535 4,735 Government Account Series 149,562 2,098,050 23,423,210 Domestic Series 0 0 599 Foreign Series 0 0 2,900 State and Local Series 354 5,881 50,813 Other 0 1,061 15,466 Total Issues 168,061 2,391,767 26,632,996 (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 46 674 9,137 Government Account Series 145,623 2,089,128 23,227,418 Domestic Series 0 0 599 Foreign Series 0 1,000 2,000 State and Local Series 122 13,802 68,430 Other 2 1,109 17,268 Total Redemptions 145,793 2,390,195 26,261,520 Net Change in Public Debt Outstanding 22,268 1,572 371,476 1 DAILY TREASURY STATEMENT PAGE: 5 Cash and debt operations of the United States Treasury Tuesday May 20, 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) 168,061 2,391,767 26,632,996 Premium on New Issues 0 0 815 Discount on New Issues: Bills (-) 30 1,172 17,806 Bonds and Notes (-) 0 452 1,658 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 149,562 2,098,050 23,422,789 Interest Increment on United States Savings Securities (-) 0 535 4,735 Inflation-Protected Securities Increment 137 2,652 10,229 Total Public Debt Cash Issues Deposited in Federal Reserve Account 18,331 288,905 3,176,594 Public Debt Cash Redemptions: Public Debt Redemptions (Table III-A) 145,793 2,390,195 26,261,520 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 (-) 145,623 2,089,129 23,227,001 Total Public Debt Cash Redemptions Withdrawn from Federal Reserve Acct. 170 301,065 3,034,519 1 DAILY TREASURY STATEMENT PAGE: 6 Cash and debt operations of the United States Treasury Tuesday May 20, 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/ $ 5,237,064 $ 5,218,614 $ 5,244,195 $ 5,049,306 Intragovernmental Holdings 4,142,065 4,138,247 4,133,363 3,958,348 Total Public Debt Outstanding 9,379,129 9,356,861 9,377,557 9,007,653 Less: Debt Not Subject to Limit: Other Debt 497 498 498 502 Unamortized Discount 64,932 64,967 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 9,299,752 9,277,447 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 $2,30 2 million. 1 DAILY TREASURY STATEMENT PAGE: 7 Cash and debt operations of the United States Treasury Tuesday May 20, 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 $ 2,226 $ 97,533 $ 1,181,409 Individual Income Taxes 16 352 15,967 Railroad Retirement Taxes 1 319 3,130 Excise Taxes 25 2,741 38,916 Corporation Income Taxes -19 7,470 211,447 Federal Unemployment Taxes 4 205 6,348 Estate and Gift Taxes & Misc IRS Rcpts. 1 45 498 Change in Balance of Unclassified Taxes -136 1,112 1,037 Total 2,118 109,777 1,458,753 These Receipts were deposited in: Federal Reserve Account: Directly 61 2,225 24,977 Collector Depositaries 508 24,537 341,677 Tax and Loan Accounts 1,056 78,536 1,049,493 Inter-agency Transfers 493 4,478 42,606 TABLE V Tax and Loan Note Accounts by Depositary Category | ___________________________________________________________________________________________ | | | Type of Depositary | | _________________________________________________________________ | Balance Transactions | | | | | | | A | B | C | Total | ___________________________________________________________________________________________ Opening Balance Today $ 4 $ 37 $ 586 $ 1,927 Deposits: Taxes Received (Table IV) 4 30 1,022 1,056 Transfers to Depositaries 1 12 501 513 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 9,046 Repo Investment 0 0 0 2,600 Withdrawals: Treasury Initiated 0 37 0 37 Depositary Initiated 0 2 220 221 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 0 Repo Investment 0 0 0 1,300 Closing Balance Today 8 40 1,889 13,584 1 DAILY TREASURY STATEMENT PAGE: 8 Cash and debt operations of the United States Treasury Tuesday May 20, 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/$ 19 $ 58,692 $ 287,968 Business 418 2,296 48,428 2/Includes $22 million for payments issued in accordance with provisions of t he Economic Stimulus Act of 2008 (PL 110-185). This amount includes a return/reversal for $24 million for IndividualTax Refunds. 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.