1 DAILY TREASURY STATEMENT PAGE: 1 Cash and debt operations of the United States Treasury Wednesday May 21, 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 $ 4,420 $ 4,797 $ 4,955 $ 5,539 Tax and Loan Note Accounts (Table V) 9,677 13,584 135,752 69,698 Total Operating Balance 14,097 18,381 140,708 75,237 1 DAILY TREASURY STATEMENT PAGE: 2 Cash and debt operations of the United States Treasury Wednesday May 21, 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) 41 299 4,247 Commodity Credit Corporation programs 43 744 7,765 Customs and Certain Excise Taxes 76 1,319 21,254 Deposits by States: Supplemental Security Income 0 2 2,751 Unemployment 62 12,267 25,171 Education Department programs 136 808 8,869 Energy Department programs 27 264 4,313 Estate and Gift Taxes 70 1,293 19,947 Federal Reserve Earnings 825 1,944 24,454 Foreign Deposits, Military Sales 4 1,169 10,972 FTD's Received (Table IV) 4,117 30,879 370,771 Housing and Urban Development programs 30 429 3,857 Individual Income and Employment Taxes, Not Withheld 850 5,440 347,409 Interest recd from T&L Depositaries 0 76 520 Justice Department programs 6 224 2,558 Postal Service 348 6,122 67,160 Public Debt Cash Issues (Table III-B) 502 289,407 3,177,095 Other Deposits: Air Transport Security Fees 1 14 1,394 Gas and Oil Lease Sales Proceeds 97 729 7,081 Medicare Premiums 444 1,136 12,586 Total Other Deposits 542 2,460 59,096 Change in Balance of Uncollected Funds (closing balance $ 203) -46 160 -44 Transfers from Depositaries 11,752 326,413 2,251,743 Total Federal Reserve Account 19,385 681,719 6,409,907 Tax and Loan Note Accounts: FTD's Received (Table IV) 4,303 82,839 1,053,796 Transfers from Federal Reserve Account (Table V) 3,542 117,498 1,137,925 Total Tax and Loan Note Accounts (Table V) 7,845 200,337 2,191,721 Total Deposits (excluding transfers) 11,936 438,145 5,211,961 1 DAILY TREASURY STATEMENT PAGE: 3 Cash and debt operations of the United States Treasury Wednesday May 21, 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 27 353 20,818 Defense Vendor Payments (EFT) 1,435 19,819 220,251 Education Department programs 218 5,086 61,186 Energy Department programs 292 1,633 18,077 Federal Employees Insurance Payments 188 3,126 36,315 Fed. Highway Administration programs 143 2,652 20,882 Federal Salaries (EFT) 221 11,460 101,978 Food and Nutrition Service (misc) 171 3,449 26,533 Food Stamps 5 635 12,196 GSA programs 50 1,079 10,601 Health and Human Services Grants (misc) 335 4,549 51,135 Housing and Urban Development programs 90 3,602 36,145 Interest on Treasury Securities 1 21,832 119,603 Justice Department programs 81 685 7,802 Labor Dept. prgms (excl. unemployment) 56 791 8,396 Medicaid 483 12,212 127,887 Medicare 1,680 29,888 284,769 NASA programs 58 885 9,519 Postal Service Money Orders and Other 143 2,828 31,760 Public Debt Cash Redemp. (Table III-B) 45 301,111 3,034,565 Social Security Benefits (EFT) 6,287 34,788 317,882 Temporary Assistance for Needy Families (HHS) 124 1,039 11,795 Unemployment Insurance Benefits 146 2,264 24,906 Veterans Affairs programs 60 1,627 16,902 Other Withdrawals: African Development Fund 51 51 156 Deposit Insurance Fund (net) 301 627 772 Federal Aviation Administration 82 473 4,856 HHS Deposit Fund Transfers to States 1/ 258 410 1,642 Interior 60 729 7,783 Thrift Savings Plan Transfer 173 1,518 11,871 Transportation Security Admin. (DHS) 59 155 1,430 Unclassified 2,897 33,474 229,317 Total, Other Withdrawals 3,880 97,362 661,196 Transfers to Depositaries 3,542 117,498 1,137,925 Total Federal Reserve Account 19,762 682,254 6,411,026 Tax and Loan Note Accounts: Transfers to Federal Reserve Account (Table V) 11,752 326,413 2,251,743 Total Withdrawals (excluding transfers) 16,220 564,756 5,273,101 Net Change in Operating Cash Balance -4,283 -126,610 -61,140 1/Transfer by HHS from Federal Tax Refund Offset Program to various State age ncies for delinquent child support. 1 DAILY TREASURY STATEMENT PAGE: 4 Cash and debt operations of the United States Treasury Wednesday May 21, 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 0 50,001 283,003 Notes 0 23,076 473,496 Bonds 0 9,231 39,066 Inflation-Protected Securities Increment 137 2,789 10,664 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities: Cash Issue Price 8 266 2,685 Interest Increment 0 536 4,735 Government Account Series 145,590 2,243,640 23,568,800 Domestic Series 0 0 599 Foreign Series 0 0 2,900 State and Local Series 494 6,375 51,307 Other 0 1,061 15,466 Total Issues 146,229 2,537,996 26,779,225 (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 44 718 9,181 Government Account Series 151,897 2,241,025 23,379,315 Domestic Series 0 0 599 Foreign Series 0 1,000 2,000 State and Local Series 1 13,804 68,431 Other 0 1,109 17,269 Total Redemptions 151,942 2,542,137 26,413,463 Net Change in Public Debt Outstanding -5,713 -4,141 365,763 1 DAILY TREASURY STATEMENT PAGE: 5 Cash and debt operations of the United States Treasury Wednesday May 21, 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) 146,229 2,537,996 26,779,225 Premium on New Issues 0 0 815 Discount on New Issues: Bills (-) 0 1,172 17,806 Bonds and Notes (-) 0 452 1,658 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 145,590 2,243,640 23,568,379 Interest Increment on United States Savings Securities (-) 0 536 4,735 Inflation-Protected Securities Increment 137 2,789 10,366 Total Public Debt Cash Issues Deposited in Federal Reserve Account 502 289,407 3,177,095 Public Debt Cash Redemptions: Public Debt Redemptions (Table III-A) 151,942 2,542,137 26,413,463 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 (-) 151,897 2,241,026 23,378,898 Total Public Debt Cash Redemptions Withdrawn from Federal Reserve Acct. 45 301,111 3,034,565 1 DAILY TREASURY STATEMENT PAGE: 6 Cash and debt operations of the United States Treasury Wednesday May 21, 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/ $ 5,237,483 $ 5,237,064 $ 5,244,195 $ 5,049,306 Intragovernmental Holdings 4,135,933 4,142,065 4,133,363 3,958,348 Total Public Debt Outstanding 9,373,416 9,379,129 9,377,557 9,007,653 Less: Debt Not Subject to Limit: Other Debt 497 497 498 502 Unamortized Discount 64,866 64,932 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 9,294,105 9,299,752 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 $2,31 3 million. 1 DAILY TREASURY STATEMENT PAGE: 7 Cash and debt operations of the United States Treasury Wednesday May 21, 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 $ 8,834 $ 106,367 $ 1,190,243 Individual Income Taxes 13 365 15,980 Railroad Retirement Taxes 8 328 3,138 Excise Taxes 36 2,777 38,953 Corporation Income Taxes 54 7,524 211,502 Federal Unemployment Taxes 6 211 6,354 Estate and Gift Taxes & Misc IRS Rcpts. 1 46 499 Change in Balance of Unclassified Taxes -504 609 533 Total 8,448 118,225 1,467,201 These Receipts were deposited in: Federal Reserve Account: Directly 59 2,285 25,036 Collector Depositaries 4,057 28,594 345,735 Tax and Loan Accounts 4,303 82,839 1,053,796 Inter-agency Transfers 28 4,507 42,634 TABLE V Tax and Loan Note Accounts by Depositary Category | ___________________________________________________________________________________________ | | | Type of Depositary | | _________________________________________________________________ | Balance Transactions | | | | | | | A | B | C | Total | ___________________________________________________________________________________________ Opening Balance Today $ 8 $ 40 $ 1,889 $ 13,584 Deposits: Taxes Received (Table IV) 7 66 4,230 4,303 Transfers to Depositaries 0 0 39 40 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 1,002 Repo Investment 0 0 0 2,500 Withdrawals: Treasury Initiated 0 0 1,891 1,891 Depositary Initiated 0 11 2,249 2,260 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 5,000 Repo Investment 0 0 0 2,600 Closing Balance Today 15 96 2,018 9,677 1 DAILY TREASURY STATEMENT PAGE: 8 Cash and debt operations of the United States Treasury Wednesday May 21, 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/$ 263 $ 58,954 $ 288,231 Business 105 2,401 48,533 3/Includes $218 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.