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Background on the U.S. Treasury
The Department of the Treasury is one of the oldest cabinet-level U.S. agencies. Established by an Act of Congress in 1789, it manages government revenue and reserves.
- Receives and manages most funds for the Unites States.
- Is responsible for printing and minting paper currency and coins, via the Bureau of Engraving and Printing and the United States Mint.
- Collects all federal taxes through the Internal Revenue Service.
- Paying the bills owed by the U.S.
- Manages government accounts and the U.S. public debt.
- Supervises the national banks and thrift institutions.
- Advises the president and Congress on domestic and international financial, monetary, economic, trade and tax policy.
- Works with the court system to enforce Federal finance and tax laws.
Leading Projects at Treasury - 2007
Department of the Treasury Integrated IT Infrastructure
Customer Account Data Engine (CADE)
ISY Support for Business Programs
Modernized e-File (MeF)
Business Systems Development Program Support
Top Spending Departments - 2007
Internal Revenue Service
Financial Management Service
Bureau of the Public Debt
[Financial Crimes Enforcement Network]
Leading Contract Winners at Treasury
Computer Sciences Corp.
Northrop Grumman Corp.
Booz Allen Hamilton Inc.
Current Issues Significant weaknesses in access controls and other information security controls continue to threaten the confidentiality, integrity, and availability of IRS’s financial and tax processing systems and information. For example, IRS has not implemented effective access controls related to user identification and authentication, authorization, cryptography, audit and monitoring, physical security, and other information security controls. These weaknesses could impair IRS’s ability to perform vital functions and increase the risk of unauthorized disclosure, modification, or destruction of financial and sensitive taxpayer information. Accordingly, GAO has reported a material weakness in IRS’s internal controls over its financial and tax processing systems. 
IT Budget History
|| $2,406 (Adjusted to $1,700)|
| $3,074 (Proposed)
Numbers = $millions. (Data from the Office of Management and Budget)
Note on 2007 & 2008: Most civilian agencies other that the Homeland Security Department have not had a full budget approved since FY2006. A continuing resolution has keep agency spending near 2006 levels.
Federal Register - Treasury
Major Sub-departments and Offices
- United States Mint
- Bureau of Engraving and Printing
- Assistant Secretary for Financial Institutions
- Assistant Secretary for Financial Markets
- Assistant Secretary for of Fiscal Service
-- Financial Management Service
-- Bureau of Public Debt
- Under Secretary for International Affairs
- Assistant Secretary for International Affairs
- Under Secretary for Terrorism and Financial Intelligence]]
- Assistant Secretary for Terrorist Financing
- Assistant Secretary for Intelligence and Analysis
- Financial Crimes Enforcement Network
- Assistant Secretary for Economic Policy
- Assistant Secretary for Legislative Affairs
- Assistant Secretary for Management/Chief Financial Officer
- Assistant Secretary for Public Affairs/Director of Policy Planning
- Assistant Secretary for Tax Policy
- Internal Revenue Service (IRS)
- Alcohol and Tobacco Tax and Trade Bureau
Latest Treasury Department Press Releases