1 DAILY TREASURY STATEMENT PAGE: 1 Cash and debt operations of the United States Treasury Thursday May 22, 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 $ 4,825 $ 4,420 $ 4,955 $ 5,539 Tax and Loan Note Accounts (Table V) 18,691 9,677 135,752 69,698 Total Operating Balance 23,516 14,097 140,708 75,237 1 DAILY TREASURY STATEMENT PAGE: 2 Cash and debt operations of the United States Treasury Thursday May 22, 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) 16 314 4,263 Commodity Credit Corporation programs 33 777 7,799 Customs and Certain Excise Taxes 943 2,262 22,197 Deposits by States: Supplemental Security Income 0 2 2,751 Unemployment 51 12,319 25,223 Education Department programs 39 847 8,908 Energy Department programs 25 288 4,337 Estate and Gift Taxes 250 1,544 20,198 Federal Reserve Earnings 0 1,944 24,454 Foreign Deposits, Military Sales 2 1,171 10,975 FTD's Received (Table IV) 621 31,500 371,391 Housing and Urban Development programs 32 461 3,889 Individual Income and Employment Taxes, Not Withheld 541 5,982 347,950 Interest recd from T&L Depositaries 0 76 520 Justice Department programs 8 232 2,566 Postal Service 335 6,457 67,495 Public Debt Cash Issues (Table III-B) 79,982 369,389 3,257,077 Other Deposits: Air Transport Security Fees 2 15 1,396 Medicare Premiums 105 1,242 12,692 Total Other Deposits 107 2,568 59,203 Change in Balance of Uncollected Funds (closing balance $ 311) -108 53 -152 Transfers from Depositaries 3,833 330,246 2,255,576 Total Federal Reserve Account 86,712 768,431 6,496,619 Tax and Loan Note Accounts: FTD's Received (Table IV) 1,204 84,044 1,055,000 Transfers from Federal Reserve Account (Table V) 11,643 129,141 1,149,568 Total Tax and Loan Note Accounts (Table V) 12,847 213,184 2,204,568 Total Deposits (excluding transfers) 84,083 522,229 5,296,044 1 DAILY TREASURY STATEMENT PAGE: 3 Cash and debt operations of the United States Treasury Thursday May 22, 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 9 362 20,826 Defense Vendor Payments (EFT) 1,273 21,092 221,524 Education Department programs 518 5,604 61,705 Energy Department programs 121 1,754 18,198 Federal Employees Insurance Payments 481 3,607 36,796 Fed. Highway Administration programs 167 2,819 21,049 Federal Salaries (EFT) 683 12,143 102,662 Food and Nutrition Service (misc) 172 3,621 26,706 Food Stamps 9 644 12,205 GSA programs 88 1,167 10,689 Health and Human Services Grants (misc) 222 4,770 51,356 Housing and Urban Development programs 104 3,706 36,249 Interest on Treasury Securities 1 21,834 119,605 Justice Department programs 33 717 7,835 Labor Dept. prgms (excl. unemployment) 28 819 8,425 Medicaid 881 13,093 128,769 Medicare 1,233 31,121 286,003 NASA programs 75 959 9,594 Postal Service Money Orders and Other 161 2,989 31,921 Public Debt Cash Redemp. (Table III-B) 65,551 366,661 3,100,115 Social Security Benefits (EFT) 45 34,833 317,926 Temporary Assistance for Needy Families (HHS) 20 1,060 11,815 Unemployment Insurance Benefits 111 2,375 25,017 Veterans Affairs programs 61 1,688 16,963 Other Withdrawals: Agriculture Loan Payments (misc) 122 122 541 Federal Aviation Administration 50 523 4,906 Interior 54 783 7,837 IRS Tax Refunds Business (EFT) 86 643 26,643 Transportation Security Admin. (DHS) 38 193 1,468 Unclassified 2,270 35,744 231,587 Total, Other Withdrawals 2,619 99,981 663,815 Transfers to Depositaries 11,643 129,141 1,149,568 Total Federal Reserve Account 86,307 768,561 6,497,333 Tax and Loan Note Accounts: Transfers to Federal Reserve Account (Table V) 3,833 330,246 2,255,576 Total Withdrawals (excluding transfers) 74,665 639,420 5,347,765 Net Change in Operating Cash Balance 9,418 -117,192 -51,721 1 DAILY TREASURY STATEMENT PAGE: 4 Cash and debt operations of the United States Treasury Thursday May 22, 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 80,009 281,030 2,406,513 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 2,926 10,801 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities: Cash Issue Price 7 273 2,692 Interest Increment 0 536 4,736 Government Account Series 158,225 2,401,865 23,727,025 Domestic Series 0 0 599 Foreign Series 0 0 2,900 State and Local Series 272 6,647 51,579 Other 80 1,141 15,546 Total Issues 238,729 2,776,725 27,017,954 (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 65,153 262,397 2,553,247 Notes 0 87,237 438,444 Bonds 0 0 10,131 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities 39 757 9,220 Government Account Series 153,970 2,394,995 23,533,285 Domestic Series 0 0 599 Foreign Series 0 1,000 2,000 State and Local Series 275 14,079 68,706 Other 83 1,191 17,351 Total Redemptions 219,520 2,761,657 26,632,983 Net Change in Public Debt Outstanding 19,209 15,068 384,971 1 DAILY TREASURY STATEMENT PAGE: 5 Cash and debt operations of the United States Treasury Thursday May 22, 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) 238,729 2,776,725 27,017,954 Premium on New Issues 0 0 815 Discount on New Issues: Bills (-) 386 1,557 18,192 Bonds and Notes (-) 0 452 1,658 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 158,225 2,401,865 23,726,604 Interest Increment on United States Savings Securities (-) 0 536 4,736 Inflation-Protected Securities Increment 137 2,926 10,503 Total Public Debt Cash Issues Deposited in Federal Reserve Account 79,982 369,389 3,257,077 Public Debt Cash Redemptions: Public Debt Redemptions (Table III-A) 219,520 2,761,657 26,632,983 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 (-) 153,970 2,394,996 23,532,868 Total Public Debt Cash Redemptions Withdrawn from Federal Reserve Acct. 65,551 366,661 3,100,115 1 DAILY TREASURY STATEMENT PAGE: 6 Cash and debt operations of the United States Treasury Thursday May 22, 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/ $ 5,252,254 $ 5,237,483 $ 5,244,195 $ 5,049,306 Intragovernmental Holdings 4,140,371 4,135,933 4,133,363 3,958,348 Total Public Debt Outstanding 9,392,625 9,373,416 9,377,557 9,007,653 Less: Debt Not Subject to Limit: Other Debt 497 497 498 502 Unamortized Discount 65,185 64,866 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 9,312,994 9,294,105 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 $2,51 9 million. 1 DAILY TREASURY STATEMENT PAGE: 7 Cash and debt operations of the United States Treasury Thursday May 22, 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 $ 2,483 $ 108,849 $ 1,192,726 Individual Income Taxes 16 381 15,996 Railroad Retirement Taxes 4 332 3,142 Excise Taxes 40 2,817 38,993 Corporation Income Taxes 71 7,596 211,573 Federal Unemployment Taxes 5 216 6,359 Estate and Gift Taxes & Misc IRS Rcpts. 2 47 501 Change in Balance of Unclassified Taxes -212 397 321 Total 2,409 120,635 1,469,610 These Receipts were deposited in: Federal Reserve Account: Directly 91 2,376 25,127 Collector Depositaries 529 29,124 346,264 Tax and Loan Accounts 1,204 84,044 1,055,000 Inter-agency Transfers 584 5,091 43,219 TABLE V Tax and Loan Note Accounts by Depositary Category | ___________________________________________________________________________________________ | | | Type of Depositary | | _________________________________________________________________ | Balance Transactions | | | | | | | A | B | C | Total | ___________________________________________________________________________________________ Opening Balance Today $ 15 $ 96 $ 2,018 $ 9,677 Deposits: Taxes Received (Table IV) 2 20 1,182 1,204 Transfers to Depositaries 0 1 81 83 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 8,660 Repo Investment 0 0 0 2,900 Withdrawals: Treasury Initiated 0 0 1,058 1,058 Depositary Initiated 0 3 272 275 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 0 Repo Investment 0 0 0 2,500 Closing Balance Today 17 114 1,952 18,691 1 DAILY TREASURY STATEMENT PAGE: 8 Cash and debt operations of the United States Treasury Thursday May 22, 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/$ 223 $ 59,177 $ 288,454 Business 246 2,647 48,779 2/Includes $202 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.