Skip Main Navigation
Office of Management and Budget
President's Budget
Information &
Regulatory Affairs
Legislative Information
Agency Information


Treasury is making progress improving its performance across the five management initiatives, but significant barriers remain.

Initiative Status Progress

Human Capital — Treasury has made good use of the Human Capital Assessment and Accountability Framework to build a more thorough and functional human capital strategy. It has designated officials, set timelines, and progressed in developing measures and an accountability system.

Competitive Sourcing — Treasury is exploring competition of more than 5,000 commercial positions to determine the best means of delivering services such as IRS tax form distribution (500 positions), IRS building maintenance (100 positions), and Mint customer services (48 positions). These competitions should begin to yield results in 2003 and 2004.

Financial Performance — Treasury can now produce accurate financial reports within three days after the end of each month. In 2001 it took an average of 20 days to close the books. Treasury met its goal to produce audited financial statements by November 15th, two years ahead of the Administration’s goal to require agency financial statements 45 days after the end of the fiscal year. However, despite these accomplishments, the Department will not be able to correct significant weaknesses in IRS’s tax accounting systems until late 2006.

Enhancing E-Government — The Department has expanded and enhanced the services it provides over the internet, such as free electronic tax filing. However, it must improve its ability to manage its critical technology investment programs.

Budget/Performance Integration — IRS is developing outcome measures and working to rationalize its budget structure. These efforts, and other improvements in performance measures, will make it easier to manage Treasury’s programs to yield maximum results.

Program Assessments

Program assessments for eight Treasury programs are presented below. Ratings range from “effective” for the Mint and Treasury’s bank regulators to “results not demonstrated” for IRS’s collection program. The assessments show significant opportunities for Treasury to improve its outcome measures to better understand and monitor program effectiveness.

Previous Table of Contents Next