1 DAILY TREASURY STATEMENT PAGE: 1 Cash and debt operations of the United States Treasury Friday May 23, 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 $ 5,042 $ 4,825 $ 4,955 $ 5,539 Tax and Loan Note Accounts (Table V) 17,546 18,691 135,752 69,698 Total Operating Balance 22,588 23,516 140,708 75,237 1 DAILY TREASURY STATEMENT PAGE: 2 Cash and debt operations of the United States Treasury Friday May 23, 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) 16 330 4,278 Commodity Credit Corporation programs 38 815 7,837 Customs and Certain Excise Taxes 76 2,338 22,273 Deposits by States: Supplemental Security Income 1 2 2,751 Unemployment 61 12,380 25,284 Education Department programs 20 867 8,927 Energy Department programs 32 320 4,369 Estate and Gift Taxes 127 1,671 20,325 Federal Reserve Earnings 0 1,944 24,454 Foreign Deposits, Military Sales 7 1,178 10,981 FTD's Received (Table IV) 1,496 32,996 372,888 Housing and Urban Development programs 33 494 3,922 Individual Income and Employment Taxes, Not Withheld 679 6,661 348,630 Interest recd from T&L Depositaries 0 77 520 Justice Department programs 17 249 2,583 Postal Service 302 6,759 67,797 Public Debt Cash Issues (Table III-B) 42 369,432 3,257,120 Other Deposits: Air Transport Security Fees 1 16 1,397 Medicare Premiums 193 1,435 12,885 Minerals Management Svc/Collections 60 342 7,522 Total Other Deposits 254 2,821 59,457 Change in Balance of Uncollected Funds (closing balance $ 197) 113 166 -39 Transfers from Depositaries 8,297 338,543 2,263,873 Total Federal Reserve Account 11,612 780,043 6,508,231 Tax and Loan Note Accounts: FTD's Received (Table IV) 4,162 88,206 1,059,163 Transfers from Federal Reserve Account (Table V) 2,990 132,131 1,152,558 Total Tax and Loan Note Accounts (Table V) 7,152 220,337 2,211,721 Total Deposits (excluding transfers) 7,477 529,706 5,303,521 1 DAILY TREASURY STATEMENT PAGE: 3 Cash and debt operations of the United States Treasury Friday May 23, 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 11 372 20,837 Defense Vendor Payments (EFT) 853 21,945 222,377 Education Department programs 231 5,836 61,936 Energy Department programs 156 1,910 18,355 Federal Employees Insurance Payments 147 3,754 36,944 Fed. Highway Administration programs 72 2,892 21,122 Federal Salaries (EFT) 166 12,309 102,828 Food and Nutrition Service (misc) 172 3,793 26,877 Food Stamps 19 663 12,224 GSA programs 30 1,197 10,719 Health and Human Services Grants (misc) 309 5,080 51,665 Housing and Urban Development programs 123 3,829 36,372 Interest on Treasury Securities 2 21,835 119,606 Justice Department programs 43 760 7,878 Labor Dept. prgms (excl. unemployment) 68 887 8,493 Medicaid 824 13,917 129,593 Medicare 1,392 32,513 287,395 NASA programs 59 1,019 9,653 Postal Service Money Orders and Other 129 3,118 32,050 Public Debt Cash Redemp. (Table III-B) 127 366,788 3,100,242 Social Security Benefits (EFT) 36 34,869 317,962 Temporary Assistance for Needy Families (HHS) 46 1,105 11,861 Unemployment Insurance Benefits 100 2,475 25,117 Veterans Affairs programs 87 1,775 17,050 Other Withdrawals: IRS Tax Refunds Individual (EFT) 1/ 1,038 39,482 209,569 Transportation Security Admin. (DHS) 4 197 1,471 Unclassified 2,159 37,903 233,746 Total, Other Withdrawals 3,201 103,182 667,016 Transfers to Depositaries 2,990 132,131 1,152,558 Total Federal Reserve Account 11,395 779,956 6,508,728 Tax and Loan Note Accounts: Transfers to Federal Reserve Account (Table V) 8,297 338,543 2,263,873 Total Withdrawals (excluding transfers) 8,405 647,826 5,356,170 Net Change in Operating Cash Balance -928 -118,120 -52,649 1/Includes $449 million in Economic Stimulus Payments (EFT). 1 DAILY TREASURY STATEMENT PAGE: 4 Cash and debt operations of the United States Treasury Friday May 23, 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 0 281,030 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 138 3,063 10,938 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities: Cash Issue Price 8 281 2,701 Interest Increment 0 536 4,736 Government Account Series 152,555 2,554,420 23,879,580 Domestic Series 0 0 599 Foreign Series 0 0 2,900 State and Local Series 34 6,681 51,613 Other 0 1,141 15,546 Total Issues 152,736 2,929,461 27,170,690 (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 0 262,397 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 39 796 9,259 Government Account Series 151,320 2,546,315 23,684,605 Domestic Series 0 0 599 Foreign Series 0 1,000 2,000 State and Local Series 84 14,163 68,790 Other 4 1,195 17,355 Total Redemptions 151,447 2,913,104 26,784,430 Net Change in Public Debt Outstanding 1,289 16,356 386,260 1 DAILY TREASURY STATEMENT PAGE: 5 Cash and debt operations of the United States Treasury Friday May 23, 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) 152,736 2,929,461 27,170,690 Premium on New Issues 0 0 815 Discount on New Issues: Bills (-) 0 1,557 18,192 Bonds and Notes (-) 0 452 1,658 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 152,555 2,554,420 23,879,159 Interest Increment on United States Savings Securities (-) 0 536 4,736 Inflation-Protected Securities Increment 138 3,063 10,641 Total Public Debt Cash Issues Deposited in Federal Reserve Account 42 369,432 3,257,120 Public Debt Cash Redemptions: Public Debt Redemptions (Table III-A) 151,447 2,913,104 26,784,430 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 (-) 151,320 2,546,316 23,684,188 Total Public Debt Cash Redemptions Withdrawn from Federal Reserve Acct. 127 366,788 3,100,242 1 DAILY TREASURY STATEMENT PAGE: 6 Cash and debt operations of the United States Treasury Friday May 23, 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/ $ 5,252,300 $ 5,252,254 $ 5,244,195 $ 5,049,306 Intragovernmental Holdings 4,141,614 4,140,371 4,133,363 3,958,348 Total Public Debt Outstanding 9,393,914 9,392,625 9,377,557 9,007,653 Less: Debt Not Subject to Limit: Other Debt 497 497 498 502 Unamortized Discount 65,119 65,185 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 9,314,349 9,312,994 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 $833 million. 1 DAILY TREASURY STATEMENT PAGE: 7 Cash and debt operations of the United States Treasury Friday May 23, 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 $ 5,621 $ 114,470 $ 1,198,347 Individual Income Taxes 14 395 16,010 Railroad Retirement Taxes 8 340 3,150 Excise Taxes 133 2,951 39,126 Corporation Income Taxes 89 7,684 211,662 Federal Unemployment Taxes 3 219 6,362 Estate and Gift Taxes & Misc IRS Rcpts. 1 48 501 Change in Balance of Unclassified Taxes -188 209 133 Total 5,681 126,316 1,475,291 These Receipts were deposited in: Federal Reserve Account: Directly 53 2,429 25,180 Collector Depositaries 1,444 30,568 347,708 Tax and Loan Accounts 4,162 88,206 1,059,163 Inter-agency Transfers 22 5,113 43,241 TABLE V Tax and Loan Note Accounts by Depositary Category | ___________________________________________________________________________________________ | | | Type of Depositary | | _________________________________________________________________ | Balance Transactions | | | | | | | A | B | C | Total | ___________________________________________________________________________________________ Opening Balance Today $ 17 $ 114 $ 1,952 $ 18,691 Deposits: Taxes Received (Table IV) 5 51 4,107 4,162 Transfers to Depositaries 0 1 40 40 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 1,850 Repo Investment 0 0 0 1,100 Withdrawals: Treasury Initiated 0 0 4,136 4,136 Depositary Initiated 1 11 1,249 1,261 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 0 Repo Investment 0 0 0 2,900 Closing Balance Today 21 154 713 17,546 1 DAILY TREASURY STATEMENT PAGE: 8 Cash and debt operations of the United States Treasury Friday May 23, 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/$ 7,846 $ 67,024 $ 296,300 Business 38 2,685 48,817 3/Includes $4,209 million for payments issued in accordance with provisions o f 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.