Treasury Estimates $398.8 Billion Deficit for May

U.S. DEPARTMENT OF THE TREASURY|BUREAU OF THE FISCAL SERVICE

Monthly Treasury Statement

Receipts and Outlays of the United States Government

For Fiscal Year 2020 Through May 31, 2020, and Other Periods

Highlight

Department of Labor outlays were $94 billion driven by expanded unemployment benefits.

Prior to April 2020 ($46 billion), the previous high was $17B in March 2010.

May has been a deficit month 65 times out of 66 fiscal years, since there are no major

corporate or individual tax due dates in this month.

Contents

Summary....................................................................................................................................................................Page 5

Receipts......................................................................................................................................................................Page 10

Outlays........................................................................................................................................................................Page 11

Means of Financing....................................................................................................................................................Page 25

Receipts/Outlays by Month.........................................................................................................................................Page 35

Federal Trust Funds/ Securities..................................................................................................................................Page 37

Receipts by Source/Outlays by Function....................................................................................................................Page 38

Explanatory Notes.......................................................................................................................................................Page 39

Introduction

The Monthly Treasury Statement of Receipts and Outlays of the United States Government (MTS) is prepared by the Bureau of the Fiscal Service, Department of the Treasury and, after approval by the Fiscal Assistant Secretary of the Treasury, is normally released on the 8th workday of the month following the reporting month. The publication is based on data provided

by Federal entities, disbursing officers, and Federal Reserve banks.

AUDIENCE

The MTS is published to meet the needs of those responsible for or interested in the cash position of the Treasury, those who are responsible or interested in the Government's budget results; and individuals and businesses whose operations depend upon or are related to the Government's financial operations.

DISCLOSURE STATEMENT

This statement summarizes the financial activities of the Federal Government and off-budget Federal entities conducted in accordance with the Budget of the U.S. Government, i.e., receipts and outlays of funds, the surplus or deficit, and the means of financing the deficit or disposing of the surplus. Information is presented on a modified cash basis; receipts are accounted for on the basis of collections; refunds of receipts are treated as deductions from gross receipts; revolving and management fund receipts, reimbursements and refunds of monies previously expended are treated as deductions from gross outlays; and interest on the public debt (public issues) is recognized on the accrual basis. Major information sources include accounting data reported by Federal entities, disbursing officers, and Federal Reserve banks.

TRIAD OF PUBLICATIONS

The MTS is part of a triad of Treasury financial reports. The Daily Treasury Statement is published each working day of the Federal Government. It provides data on the cash and debt operations of the Treasury based upon reporting of the Treasury account balances by Federal Reserve banks. The MTS is a report of Government receipts and outlays, based on agency reporting. The Combined Statement of Receipts, Outlays, and Balances of the United States Government is the official publication of the detailed receipts and outlays of the Government. It is published annually in accordance with legislative mandates given to the Secretary of the Treasury.

DATA SOURCES AND INFORMATION

The Explanatory Notes section of this publication provides information concerning the flow of data into the MTS and sources of information relevant to the MTS.

3

Figure 1. Receipts, Outlays, and Surplus/Deficit for May 2020

Receipts by Source:

	Total Receipts
Social Insurance & Retirement $112 billion	$174 Billion

Individual Income Taxes	$48 Billion
Miscellaneous	$9 Billion

Customs Duties	$4 Billion

Outlays by Function:

Total Outlays

$573 Billion

$184 BillionIncome Security

$92 BillionSocial Security

$79 BillionHealth

$61 BillionNational Defense

Excise Taxes

$3 Billion

Deficit

$399 Billion

$50 BillionMedicare

$26 BillionNet Interest

$.7 Billion

Estate and Gift Taxes

Corporation Income Taxes^{$-2 Billion}

$20 BillionVeterans'Benefits & Services

^$16 ^BillionTransportation

$11 Billion_Education

$34 BillionOther

Figure 2. Cumulative Receipts, Outlays, and Surplus/Deficit through Fiscal Year 2020

Receipts by Source:

	Total Receipts
Individual Income Taxes $892 Billion	$2,019 Billion

Social Insurance & Retirement $870 Billion

$86 Billion

Corporation Income Taxes

$70 Billion

Miscellaneous

Customs Duties ^$47 ^Billion	Deficit
	$1,880 Billion

	Outlays by Function:
Total Outlays	$786 Billion Income Security
$3,900 Billion

$723 BillionSocial Security

$532 BillionMedicare

$485 BillionNational Defense

$479 BillionHealth

$261 BillionNet Interest

$159 BillionGeneral Government

Excise Taxes

$43 Billion

$143 Billion	Veterans' Benefits & Services
$85 Billion	Transportation

Estate and Gift Taxes

$11 Billion

$246 Billion Other

₄Source data: Table 9

Table 1. Summary of Receipts, Outlays, and the Deficit/Surplus of the U.S. Government, Fiscal Years 2019 and 2020, by Month

[$ millions]

Period

Receipts

Outlays

Deficit/Surplus (-)

FY 2019

October	252,692	353,183	100,491
November	205,961	410,864	204,903

December	312,584	326,123	13,539
January	339,980	331,299	-8,681

February	167,265	401,243	233,977
March	228,811	375,756	146,945

April	535,545	375,240	-160,304
May	232,064	439,833	207,768

June	333,952	342,430	8,477
July	251,348	371,043	119,695

August	227,965	428,309	200,344
September	374,056	291,288	-82,768

Year-to-Date	3,462,223	4,446,611	984,388
FY 2020


October	245,521	379,988	134,467
November	225,185	434,024	208,838

December	335,805	349,091	13,286
January	372,288	404,883	32,595

February	187,951	423,229	235,278
March	236,766	355,754	118,988

April	241,863	¹979,885	738,022
May	173,861	572,682	398,821

Year-to-Date	2,019,240	3,899,536	1,880,296

1 Outlays increased by $172 million due to additional reporting by the Department	Note: Details may not add to totals due to rounding.
of the Interior and the Department of Health and Human Services.

Table 2. Summary of Budget and Off-Budget Results and Financing of the U.S. Government, May 2020 and Other Periods

[$ millions]

	This	Current	Budget		Comparable	Budget
Classification					Prior Period	Estimates
		Fiscal Year	Estimates Full
	Month				Year to Date	Next Fiscal
		to Date	Fiscal Year	1
					(2019)	Year (2021) ¹
Total On-Budget and Off-Budget Results:

Total Receipts	173,861	2,019,240	3,706,327		2,274,902	3,863,293
On-Budget Receipts	96,428	1,381,643	2,739,254		1,669,857	2,852,257

Off-Budget Receipts	77,433	637,597	967,073		605,046	1,011,036

Total Outlays	572,682	3,899,536	4,789,746		3,013,541	4,829,359

On-Budget Outlays	481,710	3,258,625	3,829,949		2,407,006	3,811,118
Off-Budget Outlays	90,972	640,912	959,797		606,535	1,018,241

Total Surplus (+) or Deficit (-)	-398,821	-1,880,296	-1,083,419		-738,638	-966,066
On-Budget Surplus (+) or Deficit (-)	-385,282	-1,876,981	-1,090,695		-737,149	-958,861

Off-Budget Surplus (+) or Deficit (-)	-13,539	-3,315	+7,276		-1,489	-7,205

Total On-Budget and Off-Budget Financing	398,821	1,880,296	1,083,419		738,638	966,066

Means of Financing:
Borrowing from the Public	759,988	3,007,563	1,080,435		440,717	1,030,904

Reduction of Operating Cash, Increase (-)	-269,095	-1,066,646	-2,517		151,838	......
By Other Means	-92,072	-60,620	5,500		146,083	-64,838


1 These estimates are based on the FY 2021 Budget, released by the Office of		Note: Details may not add to totals due to rounding.
Management and Budget on February 10, 2020.		... No Transactions

5

Figure3.MonthlyReceipts,Outlays,andBudgetDefcit/SurplusoftheU.S.Government,FiscalYears 2019and2020

2019	2020
$600B
$200B
($200B)
($600B)

($1,000B)

$600B

$200B

($200B)

($600B)

($1,000B)

JunJulAug

Oct

Nov

Dec

Jan

FebMar

Apr

May

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Receipts

Outlays

Deficit(-)/Surplus

Figure4.MonthlyReceipts,Outlays,andBudgetDefcit/SurplusoftheU.S.Government,Cumulative, FiscalYears2019and2020

2019

2020

$4,000B

$3,000B

$2,000B

$1,000B

$0B

($1,000B)

($2,000B)

($3,000B)

($4,000B)

$1,000B

$0B

($1,000B)

($2,000B)

JunJulAug

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Sep

Oct

Nov

Dec

JanFeb

Mar

Apr

May

Receipts

Outlays

Deficit(-)/Surplus

6Source data: Table 1

Figure5.ReceiptsoftheU.S.Government,bySource,FiscalYear2020

_{MonthofMay2020:$174B}FiscalYear2020toDate:$2,019B

($2B)$9B _$5B

$3B

$870B

$48B

$112B

^$86B$70B_$58B

$43B

$892B

Figure6.MonthlyReceiptsoftheU.S.Government,bySource,FiscalYears2019and2020

ReceiptAmount

$550B $500B $450B $400B $350B $300B $250B $200B $150B $100B $50B

$0B

20192020

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

"Other"Includes:CustomsDutiesandEsateandGiftTaxes *Disclaimer:Othercategoryissubjecttochangeduetonegativebalancesheld. Note:Detailsmaynotaddtootalsduetorounding

₇Source data: Table 9

Figure7.OutlaysoftheU.S.Government,bySource,FiscalYear2020

MonthofMay2020:$573BFiscalYear2020toDate:$3,900B

$80B

$26B

$61B

^$92B$633B

$261B

$50B

$723B

		$485B	$532B
$79B
	$184B	$479B	$786B

SocialSecurity	IncomeSecurity	NationalDefense	Other
Medicare	Health	NetInterest

*Disclaimer:Othercategoryissubjecttochangeduetonegativebalancesheld.

Figure8.MonthlyOutlaysoftheU.S.Government,bySource,FiscalYears2019and2020

OutlayAmount

20192020

$1,000B

$900B

$800B

$700B

$600B

$500B

$400B

$300B

$200B

$100B

$0B

Jul

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

SocialSecurity

	IncomeSecurity		NationalDefense		Other

	Medicare		Health		NetInterest

"Other"Includes:AdministrationofJustice,Agriculture,CommerceandHousingCredit,CommunityandRegionalDevelopment,Education, Training,Employment,andSocialServices,Energy,GeneralGovernment,GeneralScience,Space,andTechnology,InternationalAfairs, NaturalResourcesandEnvironment,Transporation,UndistributedOfsetingReceipts,Veterans'BenefitsandServices.

Note:Detailsmaynotaddtootalsduetorounding

₈Source data: Table 9

Table 3. Summary of Receipts and Outlays of the U.S. Government, May 2020 and Other Periods

[$ millions]

		This	Current	Comparable	Budget
					Estimates
Classification			Fiscal Year	Prior Period
		Month			Full Fiscal
			to Date	Year to Date	Year ¹
Budget Receipts
Individual Income Taxes	47,760		892,477	1,160,328	1,812,040
Corporation Income Taxes	-1,795		86,399	113,086	263,642
Social Insurance and Retirement Receipts:
Employment and General Retirement (Off-Budget)	77,433		637,597	605,046	967,073
Employment and General Retirement (On-Budget)	22,096		196,646	187,829	297,713
Unemployment Insurance	11,720		31,979	33,009	42,004
Other Retirement	505		3,458	3,158	5,236
Excise Taxes	2,701		43,028	64,085	94,593
Estate and Gift Taxes	736		10,538	11,348	20,389
Customs Duties	3,833		47,112	44,866	92,304
Miscellaneous Receipts	8,871		70,007	52,149	111,333
Total Receipts		173,861	2,019,240	2,274,902	3,706,327
(On-Budget)		96,428	1,381,643	1,669,857	2,739,254
(Off-Budget)
		77,433	637,597	605,046	967,073
Budget Outlays
Legislative Branch		443	3,521	3,254	6,048
Judicial Branch	776		5,632	5,374	8,580
Department of Agriculture	12,512		111,466	105,182	154,617
Department of Commerce	1,202		10,498	7,753	17,124
Department of Defense--Military Programs	58,453		461,912	439,296	689,589
Department of Education	8,929		57,886	52,323	159,297
Department of Energy	2,690		21,379	18,753	34,351
Department of Health and Human Services	128,708		²997,981	834,346	1,322,128
Department of Homeland Security	6,031		40,543	38,650	62,152
Department of Housing and Urban Development	4,797		32,452	13,335	36,049
Department of the Interior	1,162		³10,506	8,620	17,458
Department of Justice	2,817		24,968	23,163	45,277
Department of Labor	93,869		162,411	23,642	36,390
Department of State	1,658		20,262	19,055	32,169
Department of Transportation	9,839		56,537	46,455	84,659
Department of the Treasury:
Interest on Treasury Debt Securities (Gross)	26,503		336,959	354,068	576,465
Other	71,967		578,237	122,950	124,576
Department of Veterans Affairs	19,491		142,945	140,928	214,336
Corps of Engineers	326		5,782	4,272	5,543
Other Defense Civil Programs	5,875		43,456	45,238	64,521
Environmental Protection Agency	753		6,051	5,621	7,498
Executive Office of the President	44		271	272	440
General Services Administration	-226		-8	-514	1,222
International Assistance Programs	1,205		16,078	16,477	25,670
National Aeronautics and Space Administration	1,862		14,012	13,132	21,545
National Science Foundation	541		4,537	4,466	7,504
Office of Personnel Management	7,815		70,754	68,613	106,405
Small Business Administration	10,844		25,608	90	-158
Social Security Administration	97,130		761,838	730,000	1,155,231
Independent Agencies	1,531		21,161	17,632	27,498
Allowances	......		......	......	364
Undistributed Offsetting Receipts:
Interest	535		-72,053	-77,863	-145,570
Other	-7,401		-74,046	-71,040	-109,232
Total Outlays		572,682	3,899,536	3,013,541	4,789,746
(On-Budget)
		481,710	3,258,625	2,407,006	3,829,949
(Off-Budget)		90,972	640,912	606,535	959,797
Surplus (+) or Deficit (-)
		-398,821	-1,880,296	-738,638	-1,083,419
(On-Budget)		-385,282	-1,876,981	-737,149	-1,090,695
(Off-Budget)
		-13,539	-3,315	-1,489	+7,276

1 These estimates are based on the FY 2021 Budget, released by the Office of Management and Budget on February 10, 2020.

2 Outlays increased by $137 million due to additional reporting for the month of April 2020.

3 Outlays increased by $35 million due to additional reporting for the month of April 2020.

Note: Details may not add to totals due to rounding.

... No Transactions

9

Table 4. Receipts of the U.S. Government, May 2020 and Other Periods

[$ millions]

Classification		This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
	Gross	Refunds	Receipts	Gross	Refunds	Receipts	Gross	Refunds	Receipts
	Receipts	(Deduct)		Receipts	(Deduct)		Receipts	(Deduct)

Individual Income Taxes

Withheld

Presidential Election Campaign Fund Other

Total -- Individual Income Taxes Corporation Income Taxes

Social Insurance and Retirement Receipts:

Employment and General Retirement:

Federal Old-Age and Survivors Insurance Trust Fund: Federal Insurance Contributions Act Taxes Self-Employment Contributions Act Taxes Adjustments Attributable to Prior Years-FICA Adjustments Attrbutable to Prior Years-SECA

Total -- Federal Old-Age and Survivors Insurance Trust Fund

Federal Disability Insurance Trust Fund: Federal Insurance Contributions Act Taxes Self-Employment Contributions Act Taxes Adjustments Attributable to Prior Years-FICA Adjustments Attributable to Prior Years-SECA Total -- Federal Disability Insurance Trust Fund

Federal Hospital Insurance Trust Fund: Federal Insurance Contributions Act Taxes Self-Employment Contributions Act Taxes Adjustments Attributable to Prior Years-FICA Adjustments Attributable to Prior Years-SECA Total -- Federal Hospital Insurance Trust Fund

Railroad Retirement:

Rail Pension and Supplemental Annuity Social Security Equivalent Account

Total -- Employment and General Retirement

Unemployment Insurance:

Deposits by States

Federal Unemployment Taxes

Railroad Unemployment Taxes

Total -- Unemployment Insurance

Other Retirement:

Federal Employees' Retirement--Employee Share Non-Federal Employees Retirement Total -- Other Retirement

Total -- Social Insurance and Retirement Receipts

Excise Taxes:

Miscellaneous Excise Taxes

Airport and Airway Trust Fund

Highway Trust Fund

Black Lung Disability Trust Fund

Total -- Excise Taxes

Estate and Gift Taxes

Customs Duties

Miscellaneous Receipts:

Deposit of Earnings, Federal Reserve System Universal Service Fund


72,199			899,937			926,710
1			16			23
11,783			186,881			461,874

83,984	36,224	47,760	1,086,834	194,357	892,477	1,388,607	228,279	1,160,328
2,402	4,197	-1,795	114,833	28,434	86,399	147,974	34,888	113,086

65,339	......	65,339	515,396	......	515,396	481,440	......	481,440
854	......	854	28,174	......	28,174	26,039	......	26,039
......	......	......	1,516	......	1,516	-237	......	-237
......	......	......	-121	......	-121	-1,115	......	-1,115

66,193	......	66,193	544,965	......	544,965	506,127	......	506,127

11,095		11,095	87,520		87,520	93,392		93,392
	......			......			......
145	......	145	4,782	......	4,782	5,846	......	5,846
......	......	......	372	......	372	-51	......	-51
......	......	......	-42	......	-42	-267	......	-267

11,240	......	11,240	92,632	......	92,632	98,919	......	98,919

21,366		21,366	180,130		180,130	172,116		172,116
	......			......			......
376	......	376	12,671	......	12,671	12,257	......	12,257
......	......	......	267	......	267	-188	......	-188
......	......	......	-17	......	-17	-481	......	-481

21,742	......	21,742	193,051	......	193,051	183,704	......	183,704

198	2	197	1,973	67	1,905	2,180	2	2,178
159	1	158	1,758	68	1,690	1,949	2	1,947

99,533	3	99,529	834,379	136	834,243	792,879	4	792,875
11,608		11,608	26,390		26,390	27,543		27,543
	......			......			......
115	3	112	5,601	83	5,518	5,554	188	5,366
1	......	1	71	......	71	100	......	100

11,724	3	11,720	32,062	83	31,979	33,197	188	33,009
504		504	3,439		3,439	3,139		3,139
	......			......			......
2	......	2	19	......	19	19	......	19

505	......	505	3,458	......	3,458	3,158	......	3,158
111,761	6	111,755	869,899	219	869,680	829,234	193	829,041
3,019	430	2,589	15,936	5,748	10,189	32,100	4,383	27,717
-563	9	-571	9,115	16	9,100	9,893	9	9,884
719	44	675	23,854	245	23,609	26,572	246	26,326
8	......	8	131	......	131	159	......	159

3,183	483	2,701	49,036	6,008	43,028	68,723	4,638	64,085

742	6	736	10,928	391	10,538	12,013	665	11,348
4,460	627	3,833	50,972	3,860	47,112	46,486	1,620	44,866
7,587		7,587	48,601		48,601	35,303		35,303
	......			......			......
594	......	594	5,754	......	5,754	6,469	......	6,469

All Other

692

1

691

15,677

25

15,652

10,402

26

10,377

Total

-- Miscellaneous Receipts

8,872

1

8,871

70,032

25

70,007

52,174

26

52,149

--Total

215,405

41,544

173,861

2,252,534

233,294

2,019,240

2,545,210

270,308

2,274,902

Total

On-Budget

--

137,972

41,544

96,428

1,614,937

233,294

1,381,643

1,940,164

270,308

1,669,857

Total -- Off-Budget

77,433

......

77,433

637,597

......

637,597

605,046

......

605,046

Note: Details may not add to totals due to rounding.

(**) Less than absolute value of $500,000

... No Transactions

10

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Legislative Branch:
Senate	77	(**)	77	643	1	642	626	1	625
House of Representatives	113	(**)	113	992	2	991	910	2	908
Joint Items	1	......	1	12	......	12	13	......	13
Capitol Police	33	......	33	301	......	301	274	......	274
Congressional Budget Office	4	......	4	35	......	35	32	......	32
Architect of the Capitol	81	(**)	81	522	3	519	408	4	404
Library of Congress	59	(**)	59	473	5	469	462	7	455
Government Printing Office	21	......	21	69	......	69	67	......	67
Government Accountability Office	46	......	46	400	......	400	391	......	391
United States Tax Court	5	......	5	36	......	36	35	......	35
Other Legislative Branch Agencies	6	......	6	86	......	86	74	......	74
Proprietary Receipts from the Public	......	1	-1	......	31	-31	......	18	-18
Intrabudgetary Transactions	(**)	......	(**)	-7	......	-7	-7	......	-7
Offsetting Governmental Receipts	......	......	......	......	(**)	(**)	......	(**)	(**)
--TotalLegislative Branch	445	2	443	3,563	42	3,521	3,286	32	3,254
Judicial Branch:

Supreme Court of the United States	9	......	9	67	......	67	66	......	66
Courts of Appeals, District Courts, and Other Judicial
Services	779	......	779	5,922	......	5,922	5,714	......	5,714

Other	41	......	41	501	......	501	467	......	467
Proprietary Receipts from the Public	......	22	-22	......	117	-117	......	105	-105
Intrabudgetary Transactions	-32	......	-32	-741	......	-741	-768	......	-768
--TotalJudicial Branch	798	22	776	5,749	117	5,632	5,479	105	5,374
Department of Agriculture:
Agricultural Research Service	110	......	110	907	......	907	777	......	777
National Institute of Food and Agriculture:
Research and Education Activities	80	......	80	453	......	453	447	......	447
Extension Activities	45	......	45	310	......	310	337	......	337
Other	-15	......	-15	48	......	48	76	......	76
Animal and Plant Health Inspection Service	118	......	118	923	......	923	788	......	788
Food Safety and Inspection Service	84	......	84	686	......	686	667	......	667
Agricultural Marketing Service	86	......	86	956	......	956	992	......	992
Risk Management Agency:
Administrative and Operating Expenses	5	......	5	43	......	43	44	......	44
Federal Crop Insurance Corporation Fund	187	17	170	10,189	2,827	7,362	9,075	290	8,785
Farm Service Agency:
Salaries and Expenses	101	......	101	615	......	615	720	......	720
USDA Supplemental Assistance	(**)	......	(**)	2	......	2	(**)	......	(**)
Agricultural Disaster Relief Fund	(**)	......	(**)	(**)	......	(**)	(**)	......	(**)
Commodity Credit Corporation	329	619	-290	23,528	4,962	18,566	22,156	4,316	17,840
Tobacco Trust Fund	......	......	......	......	......	......	3	......	3
Agricultural Credit Insurance Fund	9	3	6	358	29	329	207	31	176
Other	34	......	34	158	......	158	91	......	91
--TotalFarm Service Agency	473	621	-148	24,661	4,991	19,670	23,176	4,347	18,829
Natural Resources Conservation Service:


Conservation Operations	72	......	72	561	......	561	480	......	480
Farm Security and Rural Investment Programs	176	......	176	2,431	......	2,431	2,344	......	2,344
Other	24	......	24	170	......	170	127	......	127
Rural Development	51	......	51	4	......	4	-46	......	-46
Rural Housing Service:
Rural Housing Insurance Fund	9	28	-19	497	298	199	475	307	168
Rental Assistance Program	105	......	105	811	......	811	796	......	796
Other	13	......	13	116	......	116	96	......	96
Rural Utilities Service:
Rural Electrification and Telecommunications Fund	57	3	54	1,299	77	1,223	617	960	-344
Other	42	2	40	398	35	363	374	42	332
Foreign Agricultural Service	269	......	269	1,496	......	1,496	1,291	......	1,291
Food and Nutrition Service:
Supplemental Nutrition Assistance Program	8,551	......	8,551	46,818	......	46,818	42,924	......	42,924
Child Nutrition Programs	1,662	......	1,662	17,210	......	17,210	17,696	......	17,696
Special Supplemental Nutrition Program for Women,
Infants, and Children (WIC)	383	......	383	3,466	......	3,466	3,555	......	3,555

Other	55	......	55	415	......	415	329	......	329
Total--Food and Nutrition Service	10,651	......	10,651	67,909	......	67,909	64,504	......	64,504

11

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Department of Agriculture: - Continued
Forest Service:
National Forest System	136	......	136	1,190	......	1,190	1,159	......	1,159
Capital Improvement and Maintenance	31	......	31	293	......	293	250	......	250
Wildland Fire Management	141	......	141	1,188	......	1,188	1,467	......	1,467
Forest Service Permanent Appropriations	15	......	15	329	......	329	353	......	353
Other	56	......	56	480	......	480	425	......	425
Total--Forest Service	378	......	378	3,479	......	3,479	3,654	......	3,654
Other
	208	3	204	2,014	26	1,988	1,087	29	1,058
Proprietary Receipts from the Public	(**)	46	-46	(**)	848	-848	......	811	-811
Intrabudgetary Transactions	4	......	4	208	......	208	-208	......	-208
--TotalDepartment of Agriculture	13,232	720	12,512	120,568	9,102	111,466	111,968	6,786	105,182
Department of Commerce:
Economic Development Administration	24	......	24	220	......	220	181	......	181
Bureau of the Census	538	......	538	3,760	......	3,760	1,527	......	1,527
International Trade Administration	31	......	31	320	......	320	279	......	279
National Oceanic and Atmospheric Administration	406	......	406	3,805	5	3,800	3,434	7	3,427
National Institute of Standards and Technology	70	......	70	705	......	705	672	......	672
National Telecommunications and Information Administration	96	......	96	1,469	(**)	1,469	1,547	1	1,546
Other	35	7	27	268	51	217	203	57	146
Proprietary Receipts from the Public	......	-11	11	......	-8	8	......	25	-25
Intrabudgetary Transactions	(**)	......	(**)	1	......	1	2	......	2
Offsetting Governmental Receipts	......	(**)	(**)	......	1	-1	......	1	-1
--TotalDepartment of Commerce	1,199	-3	1,202	10,547	49	10,498	7,844	91	7,753
Department of Defense Military Programs:
--
Military Personnel:
Department of the Army	4,827	......	4,827	40,725	......	40,725	42,373	......	42,373
Department of the Navy	3,989	......	3,989	34,408	......	34,408	34,907	......	34,907
Department of the Air Force	3,145	......	3,145	26,738	......	26,738	26,495	......	26,495
Defense Agencies	......	......	......	8,505	......	8,505	7,909	......	7,909
Total--Military Personnel	11,961	......	11,961	110,376	......	110,376	111,684	......	111,684
Operation and Maintenance:
Department of the Army	5,892	......	5,892	49,052	......	49,052	45,842	......	45,842
Department of the Navy	5,484	......	5,484	43,460	......	43,460	41,900	......	41,900
Department of the Air Force	5,177	......	5,177	40,234	......	40,234	39,490	......	39,490
Defense Agencies	6,651	......	6,651	50,277	......	50,277	49,778	......	49,778
Total--Operation and Maintenance	23,204	......	23,204	183,023	......	183,023	177,009	......	177,009
International Reconstruction and Other Assistance:
Department of the Army	......	......	......	(**)	......	(**)	6	......	6
Procurement:
Department of the Army	2,030	......	2,030	15,902	......	15,902	13,273	......	13,273
Department of the Navy	4,729	......	4,729	35,680	......	35,680	30,942	......	30,942
Department of the Air Force	5,665	......	5,665	36,885	......	36,885	31,196	......	31,196
Defense Agencies	655	......	655	5,932	......	5,932	4,971	......	4,971
Total--Procurement	13,079	......	13,079	94,400	......	94,400	80,383	......	80,383
Research, Development, Test, and Evaluation:
Department of the Army	977	......	977	8,182	......	8,182	5,793	......	5,793
Department of the Navy	2,055	......	2,055	12,491	......	12,491	12,239	......	12,239
Department of the Air Force	3,701	......	3,701	28,670	......	28,670	28,104	......	28,104
Defense Agencies	1,926	......	1,926	15,494	......	15,494	14,741	......	14,741
Total--Research, Development, Test, and Evaluation	8,659	......	8,659	64,837	......	64,837	60,877	......	60,877
Military Construction:
Department of the Army	64	......	64	1,362	......	1,362	1,587	......	1,587
Department of the Navy	160	......	160	1,140	......	1,140	1,012	......	1,012
Department of the Air Force	170	......	170	1,162	......	1,162	829	......	829
Defense Agencies	207	......	207	1,920	......	1,920	1,776	......	1,776
Total--Military Construction	601	......	601	5,585	......	5,585	5,203	......	5,203
Family Housing:
Department of the Army	26	......	26	281	......	281	278	......	278
Department of the Navy	35	......	35	187	......	187	172	......	172
Department of the Air Force	30	......	30	229	......	229	209	......	209
Defense Agencies	60	......	60	85	(**)	85	49	(**)	48
Revolving and Management Funds:

12

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Department of Defense--Military Programs: - Continued
Department of the Navy	180	......	180	228	......	228	43	......	43
Defense Agencies:
Working Capital Fund	746	......	746	3,649	......	3,649	3,675	......	3,675
Other	-4	......	-4	59	......	59	101	......	101
Allowances	-5	......	-5	3	......	3	84	......	84
Trust Funds:
Department of the Army	1	......	1	9	......	9	1	......	1
Department of the Navy	1	......	1	16	......	16	22	......	22
Department of the Air Force	(**)	......	(**)	2	......	2	2	......	2
Defense Agencies	39	......	39	275	......	275	212	......	212
Proprietary Receipts from the Public:
Department of the Army	......	-25	25	......	4	-4	......	-440	440
Department of the Navy	......	10	-10	......	26	-26	......	78	-78
Department of the Air Force	......	-44	44	......	133	-133	......	161	-161
Defense Agencies	......	174	-174	......	494	-494	......	983	-983
Intrabudgetary Transactions:
Department of the Army	-15	......	-15	-43	......	-43	163	......	163
Department of the Navy	-8	......	-8	-20	......	-20	-40	......	-40
Department of the Air Force	-28	......	-28	-38	......	-38	-45	......	-45
Defense Agencies	9	......	9	-70	......	-70	-9	......	-9
Offsetting Governmental Receipts:
Department of the Army	......	......	......	......	4	-4	......	(**)	(**)
Defense Agencies	......	......	......	......	500	-500	......	......	......
Total Department of Defense Military Programs
----	58,568	115	58,453	463,074	1,162	461,912	440,078	782	439,296
Department of Education:
Office of Elementary and Secondary Education:
Accelerating Achievement and Ensuring Equity	1,298	......	1,298	11,068	......	11,068	11,214	......	11,214
Impact Aid	63	......	63	1,448	......	1,448	1,376	......	1,376
Education Improvement Programs	336	......	336	3,219	......	3,219	3,025	......	3,025
Other	3,772	......	3,772	4,767	......	4,767	202	......	202
Total--Office of Elementary and Secondary Education	5,469	......	5,469	20,503	......	20,503	15,817	......	15,817
Office of Innovation and Improvement
	69	......	69	525	......	525	693	......	693

Office of English Language Acquisition	46	......	46	499	......	499	531	......	531
Office of Special Education and Rehabilitative Services:
Special Education	1,093	......	1,093	8,847	......	8,847	8,714	......	8,714
Rehabilitation Services and Disability Research	240	......	240	2,217	......	2,217	2,197	......	2,197
Special Institutions for Persons with Disabilities	18	......	18	170	......	170	158	......	158
Office of Vocational and Adult Education	115	......	115	1,109	......	1,109	1,139	......	1,139
Office of Postsecondary Education:
Higher Education	175	......	175	1,542	......	1,542	1,574	......	1,574
Other	(**)	(**)	-1	206	2	204	176	3	173
--TotalOffice of Postsecondary Education	174	(**)	174	1,748	2	1,746	1,750	3	1,747
Office of Federal Student Aid:
Student Financial Assistance	990	......	990	18,888	......	18,888	19,617	......	19,617
Student Aid Administration	175	......	175	1,134	......	1,134	1,087	......	1,087
Federal Student Loan Reserve Fund	......	......	......	......	......	......	-110	......	-110
Federal Direct Student Loans	......	......	......	5,245	......	5,245	5,169	......	5,169
Federal Family Education Loans	-7	......	-7	-149	......	-149	-142	......	-142
Other	(**)	(**)	(**)	16	4	12	17	5	12
--TotalOffice of Federal Student Aid	1,158	(**)	1,157	25,134	4	25,129	25,637	5	25,631
Institute of Education Sciences	39	......	39	379	......	379	445	......	445

Departmental Management	40	......	40	369	......	369	381	......	381
Other	23	......	23	192	......	192	286	......	286
Proprietary Receipts from the Public	......	-449	449	......	3,868	-3,868	......	5,447	-5,447
Intrabudgetary Transactions	-4	......	-4	69	......	69	30	......	30
Total Department of Education
--	8,481	-448	8,929	61,761	3,874	57,886	57,778	5,455	52,323
Department of Energy:
National Nuclear Security Administration:
Naval Reactors	182	......	182	987	......	987	983	......	983
Weapons Activities	903	......	903	7,493	......	7,493	6,960	......	6,960
Defense Nuclear Nonproliferation	152	......	152	1,346	......	1,346	1,162	......	1,162
Other	29	......	29	277	......	277	272	......	272

13

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Department of Energy: - Continued

Environmental and Other Defense Activities:

Defense Environmental Cleanup

Other Defense Activities

Defense Nuclear Waste Disposal

Energy Programs:

Science

Energy Supply

Energy Efficiency and Renewable Energy

Fossil Energy Research and Development

Uranium Enrichment Decontamination and Decommissioning Fund

Advanced Technology Vehicles Manufacturing Loan Program

Title 17 Innovative Technology Loan Guarantee Program

Other

Total--Energy Programs

Power Marketing Administration Departmental Administration Proprietary Receipts from the Public Intrabudgetary Transactions

Total--Department of Energy

Department of Health and Human Services:

Food and Drug Administration

Health Resources and Services Administration Indian Health Service

Centers for Disease Control and Prevention National Institutes of Health

Substance Abuse and Mental Health Services Administration Agency for Healthcare Research and Quality

Centers for Medicare and Medicaid Services:

Grants to States for Medicaid Payments to Health Care Trust Funds Children's Health Insurance Fund State Grants and Demonstrations

Federal Hospital Insurance Trust Fund:

Benefit Payments

Administrative Expenses

Total--Federal Hospital Insurance Trust Fund Health Care Fraud and Abuse Control

Federal Supplementary Medical Insurance Trust Fund:

Benefit Payments

Administrative Expenses

Medicare Prescription Drugs:

Benefit Payments

Total--Federal Supplementary Medical Insurance Trust Fund

Other

Total--Centers for Medicare and Medicaid Services

Administration for Children and Families: Temporary Assistance for Needy Families Contingency Fund

Payments to States for Child Support Enforcement and Family Support Programs

Low Income Home Energy Assistance Refugee and Entrant Assistance Child Care Entitlement to States

Payments to States for the Child Care and Development Block Grant

Social Services Block Grant

Children and Families Services Programs Payments to States for Foster Care and Adoption

Assistance

373	......	373	4,007	......	4,007	3,798	......	3,798
53	......	53	593	......	593	519	......	519
(**)	......	(**)	1	......	1	1	......	1

484		484	4,027		4,027	3,732		3,732
	......			......			......
160	......	160	1,222	......	1,222	1,074	......	1,074
155	......	155	1,366	......	1,366	1,211	......	1,211
55	......	55	430	......	430	411	......	411
107	......	107	563	......	563	533	......	533
(**)	......	(**)	2	......	2	2	......	2
2	......	2	130	......	130	7	......	7
112	9	102	817	78	738	750	79	671

1,076	9	1,067	8,557	78	8,479	7,719	79	7,640
489	313	176	2,822	2,615	207	2,643	2,688	-45
25	......	25	125	......	125	196	......	196
......	113	-113	......	1,084	-1,084	......	1,653	-1,653
-158	......	-158	-1,052	......	-1,052	-1,081	......	-1,081

3,125	435	2,690	25,156	3,777	21,379	23,172	4,420	18,753
562	1	561	2,412	6	2,406	2,303	6	2,296
919	......	919	7,870	......	7,870	7,708	......	7,708
332	......	332	5,302	......	5,302	4,483	......	4,483
808	......	808	5,558	......	5,558	5,134	......	5,134
2,845	......	2,845	24,254	......	24,254	23,486	......	23,486
395	......	395	3,438	......	3,438	2,669	......	2,669
28	......	28	227	......	227	213	......	213


39,862		39,862	292,776		292,776	268,533		268,533
	......			......			......
30,463	......	30,463	246,233	......	246,233	238,631	......	238,631
1,264	......	1,264	10,738	......	10,738	11,826	......	11,826
23	......	23	220	......	220	222	......	222

-2,489		-2,489	280,990		280,990	225,848		225,848
	......			......			......
299	......	299	2,336	......	2,336	2,727	......	2,727

-2,190	......	-2,190	283,326	......	283,326	228,575	......	228,575
145	......	145	1,253	......	1,253	1,152	......	1,152
55,006		55,006	276,759		276,759	252,148		252,148
	......			......			......
303	......	303	2,935	......	2,935	2,580	......	2,580
7,862	......	7,862	58,497	......	58,497	62,945	......	62,945

63,171
	......	63,171	338,191	......	338,191	317,673	......	317,673

9	......	9	3,684	......	3,684	5,123	......	5,123
132,747	......	132,747	1,176,420	......	1,176,420	1,071,735	......	1,071,735
1,147		1,147	11,397		11,397	10,340		10,340
	......			......			......
52	......	52	425	......	425	270	......	270
227	......	227	2,462	......	2,462	2,400	......	2,400
208	......	208	2,817	......	2,817	2,969	......	2,969
168	......	168	1,251	......	1,251	1,583	......	1,583
266	......	266	2,069	......	2,069	2,007	......	2,007
747	......	747	3,732	......	3,732	2,339	......	2,339
136	......	136	1,177	......	1,177	1,162	......	1,162
958	......	958	8,309	......	8,309	7,989	......	7,989
731	......	731	5,738	......	5,738	5,577	......	5,577

Other	47......		47	378......		378	355......		355
Total--Administration for Children and Families	4,688	......	4,688	39,753	......	39,753	36,990	......	36,990

14

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Department of Health and Human Services: - Continued
Administration for Community Living	157	......	157	1,514	......	1,514	1,374	......	1,374
Departmental Management	27,072	......	27,072	68,571	......	68,571	2,104	......	2,104
Other	124	......	124	702	......	702	576	......	576
Proprietary Receipts from the Public	......	11,556	-11,556	......	91,378	¹-91,378	......	85,074	-85,074
Intrabudgetary Transactions:
Payments for Health Insurance for the Aged:
Federal Supplementary Medical Insurance Trust Fund	-30,467	......	-30,467	-238,642	......	-238,642	-221,745	......	-221,745
Payments for Tax and Other Credits:
Federal Hospital Insurance Trust Fund	-1	......	-1	-7,601	......	-7,601	-16,909	......	-16,909
Other	55	......	55	-413	......	-413	-694	......	-694
--TotalDepartment of Health and Human Services	140,264	11,556	128,708	1,089,365	91,384	997,981	919,426	85,081	834,346
Department of Homeland Security:
Departmental Management and Operations	140	......	140	1,089	......	1,089	890	......	890
Citizenship and Immigration Services	334	......	334	2,905	......	2,905	2,672	......	2,672
United States Secret Service	237	......	237	1,666	......	1,666	1,505	......	1,505
Transportation Security Administration	657	......	657	4,703	......	4,703	3,991	......	3,991
Immigration and Customs Enforcement	617	......	617	5,363	......	5,363	4,962	......	4,962
U.S. Customs and Border Protection	1,185	2	1,183	10,973	19	10,954	9,874	19	9,855
United States Coast Guard	992	......	992	7,650	......	7,650	7,859	......	7,859
National Protection and Programs Directorate	128	......	128	1,206	......	1,206	1,300	......	1,300
Federal Emergency Management Agency:
State and Local Programs	3	......	3	153	......	153	443	......	443
Firefighter Assistance Grants	6	......	6	87	......	87	224	......	224
Disaster Relief	2,671	......	2,671	10,777	......	10,777	10,891	......	10,891
National Flood Insurance Fund	60	236	-176	1,387	1,184	203	1,797	990	807
Other	93	......	93	828	......	828	854	......	854
--TotalFederal Emergency Management Agency	2,833	236	2,597	13,232	1,184	12,048	14,209	990	13,219
Science and Technology
	66	......	66	541	......	541	604	......	604

Domestic Nuclear Detection Office	17	......	17	165	......	165	181	......	181
Other	35	......	35	328	......	328	304	......	304
Proprietary Receipts from the Public	......	79	-79	......	623	-623	......	639	-639
Intrabudgetary Transactions	-140	......	-140	-50	......	-50	-33	......	-33
Offsetting Governmental Receipts	......	752	-752	......	7,402	-7,402	......	8,019	-8,019
Total Department of Homeland Security
--	7,100	1,068	6,031	49,771	9,228	40,543	48,317	9,667	38,650
Department of Housing and Urban Development:
Public and Indian Housing Programs:
Tenant Based Rental Assistance	2,332	......	2,332	15,911	......	15,911	14,744	......	14,744
Housing Certificate Fund	4	......	4	102	......	102	122	......	122
Public Housing Capital Fund	132	......	132	1,489	......	1,489	1,374	......	1,374
Public Housing Operating Fund	396	......	396	2,991	......	2,991	2,771	......	2,771
Revitalization of Severely Distressed Public Housing
(Hope VI)	(**)	......	(**)	3	......	3	10	......	10
Native American Housing Block Grant	30	......	30	395	......	395	455	......	455
Other	17	......	17	123	......	123	107	......	107
Total--Public and Indian Housing Programs	2,912	......	2,912	21,013	......	21,013	19,583	......	19,583
Community Planning and Development:
Housing Opportunities for Persons with AIDS	47	......	47	212	......	212	211	......	211
Community Development Fund	415	......	415	3,419	......	3,419	3,557	......	3,557
Home Investment Partnership Program	63	......	63	540	......	540	592	......	592
Neighborhood Stabilization Program	4	......	4	15	......	15	12	......	12
Homeless Assistance Grants	163	......	163	1,451	......	1,451	1,446	......	1,446
Other	15	......	15	151	......	151	82	......	82
Total--Community Planning and Development	706	......	706	5,788	......	5,788	5,900	......	5,900
Housing Programs:
Credit Accounts:
FHA-Mutual Mortgage Insurance Fund, Program Account	9	......	9	73	......	73	1,342	......	1,342
FHA-Mutual Mortgage Insurance Capital Reserve Account	-494	......	-494	-4,247	......	-4,247	-22,019	......	-22,019
FHA-Mutual Mortgage and Cooperative Housing Insurance
Fund, Liquidating Account	(**)	1	(**)	10	8	2	260	256	3
FHA-General and Special Risk Fund, Program Account	......	......	......	......	......	......	1,284	......	1,284
FHA-General and Special Risk Fund, Liquidating Account	8	11	-4	98	153	-55	115	189	-74
Housing for the Elderly or Handicapped Fund,
Liquidating Account	-9	3	-12	-80	34	-114	-88	31	-119

15

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Department of Housing and Urban Development: - Continued
HUD Project-Based Rental Assistance	1,101	......	1,101		8,471	......	8,471	8,024	......	8,024
Housing for the Elderly	61	......	61		485	......	485	483	......	483
Housing for Persons with Disabilities	17	......	17		131	......	131	123	......	123
Other Assisted Housing Programs	6	......	6		42	......	42	59	......	59
Other	3	2	1		39	25	14	30	29	1
--TotalHousing Programs	702	17	685		5,021	220	4,802	-10,387	505	-10,892
Government National Mortgage Association:
Guarantees of Mortgage-Backed Securities	442	(**)	442		348	1	347	-192	2	-194
Management and Administration	142	......	142		1,186	......	1,186	1,084	......	1,084
Other	11	......	11		119	......	119	129	......	129
Proprietary Receipts from the Public:
FHA-General and Special Risk Fund	......	51	-51		......	400	-400	......	2,010	-2,010
Other	......	48	-48		......	388	-388	......	252	-252
Intrabudgetary Transactions	(**)	......	(**)		-4	......	-4	-4	......	-4
Offsetting Governmental Receipts	......	1	-1		......	10	-10	......	10	-10
Total Department of Housing and Urban Development
--	4,915	117	4,797	33,471		1,019	32,452	16,114	2,778	13,335
Department of the Interior:
Land and Minerals Management:
Bureau of Land Management:
Management of Lands and Resources	89	......	89		754	......	754	714	......	714
Other	16	4	12		258	38	220	217	36	181
Bureau of Ocean Energy Management	10	......	10		88	......	88	85	......	85
Office of Surface Mining Reclamation and Enforcement	35	......	35		1,758	......	1,758	528	......	528
--TotalLand and Minerals Management	151	4	147		2,857	38	2,820	1,543	36	1,507
Water and Science:
Bureau of Reclamation:
Water and Related Resources	89	......	89		716	......	716	652	......	652
Other	46	20	26		440	152	288	511	250	261
Central Utah Project	3	......	3		28	......	28	17	......	17
United States Geological Survey	100	......	100		776	......	776	746	......	746
--TotalWater and Science	238	20	218		1,961	152	1,809	1,927	250	1,676
Fish and Wildlife and Parks:


United States Fish and Wildlife Service	195	......	195		1,979	......	1,979	1,870	......	1,870
National Park Service	218	......	218		2,193	......	2,193	2,026	......	2,026
Total--Fish and Wildlife and Parks	413	......	413		4,172	......	4,172	3,896	......	3,896
Indian Affairs:


Bureau of Indian Affairs and Bureau of Indian Education	284	(**)	284		2,432	(**)	2,432	1,911	(**)	1,911
--TotalIndian Affairs	284	(**)	284		2,432	(**)	2,432	1,911	(**)	1,911
Departmental Offices:
Mineral Leasing and Associated Payments	93	......	93		1,124	......	1,124	1,585	......	1,585
Other	16	......	16		514	......	514	392	......	392
Insular Affairs	15	......	15		240	......	240	203	......	203
Office of the Special Trustee for American Indians	8	......	8		71	......	71	80	......	80
Department-Wide Programs	262	......	262		793	......	793	889	......	889
Total--Departmental Offices	393	......	393		2,742	......	2,742	3,149	......	3,149

Other	58	(**)	58	2	672	(**)	672	391		391
									......
Proprietary Receipts from the Public	......	344	-344		......	3,961	³-3,961	......	4,587	-4,587
Intrabudgetary Transactions	-7	......	-7		-179	(**)	-179	677	......	677
--TotalDepartment of the Interior	1,530	368	1,162	14,657		4,151	10,506	13,494	4,874	8,620
Department of Justice:
General Administration	-62	......	-62		415	......	415	837	......	837
Legal Activities and U.S. Marshals:
General Legal Activities	121	......	121		1,441	......	1,441	2,500	......	2,500
United States Attorneys	180	......	180		1,455	......	1,455	1,234	......	1,234
United States Marshals Service	101	......	101		933	......	933	871	......	871
Assets Forfeiture Fund	76	......	76		1,868	......	1,868	1,660	......	1,660
Other	191	......	191		1,630	......	1,630	1,449	......	1,449
Federal Bureau of Investigation	765	......	765		6,353	......	6,353	6,187	......	6,187
Drug Enforcement Administration	237	......	237		1,850	......	1,850	1,701	......	1,701
Bureau of Alcohol, Tobacco, Firearms, and Explosives	106	......	106		884	......	884	840	......	840
Federal Prison System	609	24	586		5,251	213	5,038	4,927	241	4,687
Office of Justice Programs:

16

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Department of Justice: - Continued
State and Local Law Enforcement Assistance	207	......	207	1,324	......	1,324	840	......	840
Community Oriented Policing Services	13	......	13	107	......	107	115	......	115
Crime Victims Fund	221	......	221	1,746	......	1,746	1,481	......	1,481
Other	87	......	87	531	......	531	633	......	633
Other	47	......	47	543	......	543	417	......	417
Proprietary Receipts from the Public	......	19	-19	......	457	-457	......	1,574	-1,574
Intrabudgetary Transactions	33	......	33	-191	......	-191	-221	......	-221
Offsetting Governmental Receipts	......	74	-74	......	502	-502	......	495	-495
--TotalDepartment of Justice	2,933	117	2,817	26,141	1,173	24,968	25,472	2,309	23,163
Department of Labor:

Employment and Training Administration:
Training and Employment Services	252	......	252	2,194	......	2,194	2,184	......	2,184
Office of Job Corps	119	......	119	1,073	......	1,073	1,018	......	1,018
Community Service Employment for Older Americans	31	......	31	261	......	261	261	......	261
Federal Unemployment Benefits and Allowances	21	......	21	206	......	206	233	......	233
Federal Additional Unemployment Compensation
Program-Recovery Act	64,185	......	64,185	91,092	......	91,092	-2	......	-2

State Unemployment Insurance and Employment Service
Operations	131	......	131	106	......	106	-294	......	-294
Payments to the Unemployment Trust Fund	13,140	......	13,140	82,583	......	82,583	2	......	2
Program Administration	11	......	11	74	......	74	71	......	71
Unemployment Trust Fund:


Federal-State Unemployment Insurance:
State Unemployment Benefits	29,676	......	29,676	67,196	......	67,196	19,101	......	19,101
State Administrative Expenses	205	......	205	2,331	......	2,331	2,614	......	2,614
Federal Administrative Expenses	27	......	27	389	......	389	363	......	363
Other	(**)	......	(**)	2	......	2	4	......	4
Total--Unemployment Trust Fund	29,908	......	29,908	69,918	......	69,918	22,081	......	22,081
Other	-347	......	-347	-347	......	-347	18	......	18
Total--Employment and Training Administration
	107,451	......	107,451	247,161	......	247,161	25,574	......	25,574
Pension Benefit Guaranty Corporation	550	1,460	-909	4,354	8,764	-4,410	4,317	8,270	-3,954
Office of Workers' Compensation Programs:
Special Benefits	218	......	218	-688	......	-688	-732	......	-732
Energy Employees Occupational Illness Compensation Fund	67	......	67	1,051	......	1,051	945	......	945
Special Benefits for Disabled Coal Miners	5	......	5	43	......	43	47	......	47
Black Lung Disability Trust Fund	17	......	17	142	......	142	144	......	144
Other	30	......	30	238	......	238	242	......	242
Wage and Hour Division	21	......	21	179	......	179	173	......	173
Occupational Safety and Health Administration	59	......	59	397	......	397	372	......	372
Mine Safety and Health Administration	34	......	34	246	......	246	239	......	239
Bureau of Labor Statistics	52	......	52	364	......	364	358	......	358
Departmental Management	10	......	10	282	......	282	323	......	323
Other	33	......	33	224	......	224	210	......	210
Proprietary Receipts from the Public	......	(**)	(**)	......	5	-5	......	4	-4
Intrabudgetary Transactions	-13,217	......	-13,217	-82,813	......	-82,813	-294	......	-294
Total Department of Labor
--	95,329	1,460	93,869	171,180	8,768	162,411	31,916	8,274	23,642
Department of State:
Administration of Foreign Affairs:
Diplomatic and Consular Programs	734	......	734	5,938	......	5,938	6,519	......	6,519
Educational and Cultural Exchange Programs	38	......	38	454	......	454	429	......	429
Embassy Security, Construction, and Maintenance	-293	......	-293	1,060	......	1,060	659	......	659
Payment to Foreign Service Retirement and Disability
Fund	136	......	136	425	......	425	159	......	159

Foreign Service Retirement and Disability Fund	85	......	85	669	......	669	654	......	654
Other	88	......	88	2,308	......	2,308	1,982	......	1,982
Total--Administration of Foreign Affairs	788	......	788	10,852	......	10,852	10,402	......	10,402
International Organizations and Conferences
	43	......	43	2,675	......	2,675	2,145	......	2,145

Global Health and Child Survival	583	......	583	6,149	......	6,149	6,152	......	6,152
Migration and Refugee Assistance	273	......	273	1,709	......	1,709	1,890	......	1,890
International Narcotics Control and Law Enforcement	107	......	107	687	......	687	674	......	674
Andean Counterdrug Programs	......	......	......	(**)	......	(**)	(**)	......	(**)
Other	53	......	53	372	......	372	364	......	364
Proprietary Receipts from the Public	......	53	-53	......	1,694	-1,694	......	2,352	-2,352
Intrabudgetary Transactions	-136	......	-136	-489	......	-489	-221	......	-221
Total Department of State
--	1,712	53	1,658	21,956	1,694	20,262	21,407	2,352	19,055

17

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Department of Transportation:
Office of the Secretary	55	......	55	417	......	417	465	......	465
Federal Aviation Administration:
Operations	-944	......	-944	-878	......	-878	757	......	757
Airport and Airway Trust Fund:
Grants-In-Aid for Airports	524	......	524	-7,802	......	-7,802	1,579	......	1,579
Facilities and Equipment	217	......	217	1,816	......	1,816	1,753	......	1,753
Research, Engineering, and Development	13	......	13	96	......	96	97	......	97
Trust Fund Share of FAA Operations	1,714	......	1,714	7,756	......	7,756	5,850	......	5,850
Total--Airport and Airway Trust Fund	2,467	......	2,467	1,865	......	1,865	9,278	......	9,278
Other	11	-13	23	10,392	22	10,369	488	24	464
Total Federal Aviation Administration
--	1,534	-13	1,547	11,379	22	11,357	10,523	24	10,499
Federal Highway Administration:
Highway Trust Fund:
Federal-Aid Highways	3,762	......	3,762	27,109	......	27,109	25,060	......	25,060
Other	-4	......	-4	(**)	......	(**)	5	......	5
Other Programs	224	......	224	1,264	......	1,264	768	......	768
Total--Federal Highway Administration	3,982	......	3,982	28,372	......	28,372	25,833	......	25,833
Federal Motor Carrier Safety Administration	43	......	43	410	......	410	368	......	368

National Highway Traffic Safety Administration	78	......	78	665	......	665	650	......	650
Federal Railroad Administration:
Capital and Debt Service Grants to the National Railroad
Passenger Corporation	(**)	......	(**)	1	......	1	2	......	2

Other	36	......	36	3,230	-47	3,277	948	......	948
Total--Federal Railroad Administration	37	......	37	3,231	-47	3,278	950	......	950
Federal Transit Administration:
Formula Grants	1	......	1	3	......	3	7	......	7
Capital Investment Grants	213	......	213	1,306	......	1,306	955	......	955
Transit Formula Grants	610	......	610	6,121	......	6,121	5,707	......	5,707
Other	3,339	......	3,339	4,193	......	4,193	678	......	678
Total--Federal Transit Administration	4,163	......	4,163	11,623	......	11,623	7,347	......	7,347
Maritime Administration	47	(**)	47	297	1	297	249	3	246
Other	10	(**)	10	360	29	331	338	26	312
Proprietary Receipts from the Public	......	25	-25	......	87	-87	......	84	-84
Intrabudgetary Transactions:
Other	(**)	......	(**)	(**)	......	(**)	-1	......	-1
Offsetting Governmental Receipts	......	98	-98	......	127	-127	......	130	-130
--TotalDepartment of Transportation	9,949	111	9,839	56,755	218	56,537	46,722	267	46,455
Department of the Treasury:

Departmental Offices:
Exchange Stabilization Fund	1,504	1	1,503	11,542	195	11,348	35	395	-360
Housing and Economic Recovery Programs	(**)	......	(**)	1	......	1	1	......	1
Troubled Asset Relief Program	-14	......	-14	508	......	508	1,019	......	1,019
ESF - Economic Stabilization Program	2,230	......	2,230	2,230	......	2,230	......	......	......
Air Carrier Worker Support	4,653	......	4,653	17,201	......	17,201	......	......	......
Coronavirus Relief Fund	4,722	......	4,722	146,633	......	146,633	......	......	......
Other	228	......	228	1,111	......	1,111	1,151	......	1,151
Bureau of the Fiscal Service:
Payment to the Resolution Funding Corporation	......	......	......	1,793	......	1,793	1,976	......	1,976
Financial Agent Services	66	......	66	539	......	539	548	......	548
Claims, Judgements, and Relief Acts	96	......	96	1,624	......	1,624	1,322	......	1,322
Other	99	(**)	99	1,724	1	1,723	811	(**)	811
--TotalBureau of the Fiscal Service	262	(**)	262	5,680	1	5,679	4,658	(**)	4,658
Federal Financing Bank	-75	......	-75	-984	......	-984	-1,210	......	-1,210
Alcohol and Tobacco Tax and Trade Bureau:
Salaries and Expenses	10	......	10	79	......	79	75	......	75
Internal Revenue Collections for Puerto Rico	41	......	41	305	......	305	288	......	288
Bureau of Engraving and Printing	-13	......	-13	20	......	20	-36	......	-36
United States Mint	369	260	109	1,912	2,041	-129	1,077	1,363	-286
Internal Revenue Service:
Taxpayer Services	205	......	205	1,662	......	1,662	1,691	......	1,691
Enforcement	347	......	347	3,079	......	3,079	2,946	......	2,946

18

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Department of the Treasury: - Continued
Operations Support	306	......	306		2,937	......	2,937	2,857	......	2,857

Build America Bond Payments, Recovery Act	-1	......	-1		1,434	......	1,434	2,298	......	2,298
Refundable Premium Tax Credits and Cost Sharing
Reductions	3,885	......	3,885		32,695	......	32,695	30,120	......	30,120

Payment Where Earned Income Credit Exceeds Liability for
Tax	1,940	......	1,940		52,874	......	52,874	57,116	......	57,116
Payment Where Child Tax Credit Exceeds Liability for Tax	815	......	815		25,618	......	25,618	27,780	......	27,780
Payment Where American Opportunity Tax Credit Exceeds
Liability for Tax	148	......	148		2,440	......	2,440	2,771	......	2,771
Refunding Internal Revenue Collections, Interest	58	......	58		1,424	......	1,424	1,209	......	1,209
Other	⁴51,004	(**)	51,004	5	275,218	(**)	275,218	4,603	(**)	4,603
--TotalInternal Revenue Service	58,709	(**)	58,708		399,382	(**)	399,381	133,392	(**)	133,392
Comptroller of the Currency	78	3	75		710	547	163	708	599	109
Interest on the Public Debt:


Interest on Treasury Debt Securities (Gross):
Public Issues (Accrual Basis)	26,018	......	26,018		253,641	......	253,641	257,577	......	257,577
Special Issues (Cash Basis)	485	......	485		83,319	......	83,319	96,492	......	96,492
Total--Interest on Treasury Debt Securities (Gross)	26,503	......	26,503		336,959	......	336,959	354,068	......	354,068
Total--Interest on the Public Debt	26,503	......	26,503		336,959	......	336,959	354,068	......	354,068
Other	10	......	10		81	......	81	78	......	78
Proprietary Receipts from the Public	......	227	-227		......	3,738	-3,738	......	14,381	-14,381
Intrabudgetary Transactions	-256	......	-256		-1,653	......	-1,653	-1,547	......	-1,547
--TotalDepartment of the Treasury	98,961	491	98,471		921,718	6,522	915,197	493,758	16,739	477,018
Department of Veterans Affairs:
Joint DOD-VA Medical Facility Demonstration Fund	48	......	48		311	......	311	296	......	296
Veterans Health Administration:
Veterans Choice Fund, Veterans Health Administration	11	......	11		135	......	135	2,866	......	2,866
Medical Services	7,003	......	7,003		48,958	......	48,958	42,968	......	42,968
Medical Support and Compliance	791	......	791		5,118	......	5,118	4,676	......	4,676
Medical Facilities	566	......	566		4,245	......	4,245	4,013	......	4,013
Other	110	25	84		872	288	585	844	319	526
Benefits Programs:


Public Enterprise Funds:
Housing Accounts	(**)	1	-1		1	6	-6	1	8	-7
Other	64	215	-151		545	1,155	-610	617	618	-1
Compensation and Pensions	9,497	......	9,497		72,439	......	72,439	73,729	......	73,729
Readjustment Benefits	994	......	994		9,295	......	9,295	9,991	......	9,991
Veterans Housing Benefit Program Fund	(**)	......	(**)		91	......	91	165	......	165
Insurance Funds:
National Service Life	52	......	52		427	......	427	479	......	479
Veterans Special Life	15	1	14		134	34	100	130	39	91
Other	9	......	9		73	......	73	69	......	69
--TotalBenefits Programs	10,632	217	10,416		83,005	1,196	81,809	85,182	665	84,517
Departmental Administration:


Construction	93	......	93		656	......	656	1,020	......	1,020
Information Technology Systems	405	......	405		3,243	......	3,243	3,087	......	3,087
General Operating Expenses	93	(**)	93		2,099	(**)	2,099	2,142	(**)	2,141
Other	265	......	265		1,549	......	1,549	1,143	......	1,143
Proprietary Receipts from the Public:
National Service Life	......	1	-1		......	17	-17	......	20	-20
Other	......	291	-291		......	5,762	-5,762	......	6,250	-6,250
Intrabudgetary Transactions	9	......	9		15	......	15	-54	......	-54
--TotalDepartment of Veterans Affairs	20,026	535	19,491		150,207	7,263	142,945	148,182	7,254	140,928
Corps of Engineers:
Construction	215	......	215		1,776	......	1,776	992	......	992
Operation and Maintenance	-61	......	-61		2,053	......	2,053	2,247	......	2,247
Flood Control and Coastal Emergencies	59	......	59		531	......	531	379	......	379
Harbor Maintenance Trust Fund	127	......	127		734	......	734	......	......	......
Rivers and Harbors Contributed Funds	48	......	48		374	......	374	244	......	244
Other	36	......	36		823	......	823	868	......	868
Proprietary Receipts from the Public	......	99	-99		......	510	-510	......	458	-458
Intrabudgetary Transactions	(**)	......	(**)		(**)	......	(**)	(**)	......	(**)
--TotalCorps of Engineers	425	99	326		6,292	510	5,782	4,730	458	4,272

19

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Other Defense Civil Programs:

Military Retirement:

Payment to Military Retirement Fund Military Retirement Fund

Retiree Health Care:

Payment to Department of Defense Medicare-Eligible Retiree Health Care Fund

Department of Defense Medicare-Eligible Retiree Health Care Fund

Educational Benefits

Other

Proprietary Receipts from the Public Intrabudgetary Transactions

Total--Other Defense Civil Programs Environmental Protection Agency:

Science and Technology

Environmental Programs and Management

State and Tribal Assistance Grants

Payment to the Hazardous Substance Superfund Hazardous Substance Superfund Other

Proprietary Receipts from the Public Intrabudgetary Transactions Offsetting Governmental Receipts

Total--Environmental Protection Agency Executive Office of the President:

The White House

Office of Management and Budget

Unanticipated Needs

Other

Proprietary Receipts from the Public Intrabudgetary Transactions

Total--Executive Office of the President General Services Administration:

Real Property Activities

Supply and Technology Activities

General Activities

Proprietary Receipts from the Public Intrabudgetary Transactions

Total--General Services Administration International Assistance Programs:

Millennium Challenge Corporation

International Security Assistance:

Foreign Military Financing Program

Economic Support Fund

Other

Total--International Security Assistance

Multilateral Assistance:

Contribution to the International Development Association

Other

Total--Multilateral Assistance

Agency for International Development:

Development Assistance Program

Assistance for Europe, Eurasia and Central Asia

International Disaster Assistance

Operating Expenses

Other

Proprietary Receipts from the Public

Intrabudgetary Transactions

Total--Agency for International Development

Overseas Private Investment Corporation:

Overseas Private Investment Corporation Accounts

Proprietary Receipts from the Public

Total--Overseas Private Investment Corporation

......	......	......	91,873	......	91,873	87,996	......	87,996
5,199	......	5,199	41,411	......	41,411	44,991	......	44,991
......	......	......	6,637	......	6,637	5,720	......	5,720
522	......	522	7,338	......	7,338	7,125	......	7,125
17	......	17	149	......	149	158	......	158
22	......	22	200	......	200	202	......	202
......	2	-2	......	15	-15	......	15	-15
117	......	117	-104,136	......	-104,136	-100,939	......	-100,939

5,877	2	5,875	43,471	15	43,456	45,253	15	45,238

59		59	498		498	446		446
	......			......			......
225	......	225	1,683	......	1,683	1,691	......	1,691
300	......	300	2,925	......	2,925	2,772	......	2,772
......	......	......	1,077	......	1,077	1,084	......	1,084
131	......	131	1,019	......	1,019	854	......	854
55	2	53	153	48	106	87	37	49
......	14	-14	......	176	-176	......	195	-195
1	......	1	-1,062	......	-1,062	-1,066	......	-1,066
......	2	-2	......	17	-17	......	16	-16

770	18	753	6,292	241	6,051	5,869	248	5,621
6		6	42		42	36		36
	......			......			......
11	......	11	72	......	72	70	......	70
3	......	3	13	......	13	15	......	15
24	......	24	185	......	185	152	......	152
......	(**)	(**)	......	(**)	(**)	......	(**)	(**)
(**)	......	(**)	-40	......	-40	(**)	......	(**)

44	()**	44	271	()**	271	272	()**	272
-142		-142	113		113	-572		-572
	......			......			......
-114	......	-114	-270	......	-270	-83	......	-83
35	......	35	189	......	189	178	......	178
......	4	-4	......	33	-33	......	29	-29
(**)	......	(**)	-8	......	-8	-8	......	-8

-222	4	-226	25	33	-8	-486	29	-514

46		46	390		390	447		447
	......			......			......

282		282	5,700		5,700	5,262		5,262
	......			......			......
237	......	237	2,712	......	2,712	3,000	......	3,000
71	......	71	840	7	833	871	7	865

590	......	590	9,252	7	9,245	9,133	7	9,126

......	......	......	1,097	......	1,097	......	......	......
29	......	29	947	......	947	537	......	537

29	......	29	2,044	......	2,044	537	......	537
178		178	1,588		1,588	1,529		1,529
	......			......			......
48	......	48	427	......	427	374	......	374
742	......	742	3,152	......	3,152	2,447	......	2,447
86	......	86	937	......	937	818	......	818
121	......	121	379	110	269	199	179	19
......	3	-3	......	36	-36	......	165	-165
-6	......	-6	-10	......	-10	-3	......	-3

1,168	3	1,165	6,473	146	6,327	5,365	344	5,021

2		2	38	41	-3	84	103	-19
	......
......	......	......	......	57	-57	......	161	-161

2	......	2	38	98	-60	84	265	-181

20

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

International Assistance Programs: - Continued

Peace Corps

Military Sales Program:

Foreign Military Sales Trust Fund

Other

Proprietary Receipts from the Public Other

Total--International Assistance Programs

National Aeronautics and Space Administration:

Science

Aeronautics

Exploration

Cross Agency Support

Space Operations

Other

Proprietary Receipts from the Public Intrabudgetary Transactions

Total--National Aeronautics and Space Administration National Science Foundation:

Research and Related Activities

Education and Human Resources

Other

Proprietary Receipts from the Public

Total--National Science Foundation

Office of Personnel Management:

Government Payment for Annuitants, Employees Health and Life Insurance Benefits

Postal Service Retiree Health Benefits Fund Civil Service Retirement and Disability Fund Employees Life Insurance Fund

Employees and Retired Employees Health Benefits Fund Other

Proprietary Receipts from the Public Intrabudgetary Transactions:

Postal Service Contributions

Civil Service Retirement and Disability Fund:

Other

Total--Office of Personnel Management Small Business Administration:

Salaries and Expenses

Business Loans Program

Disaster Loans Program

Other

Proprietary Receipts from the Public Intrabudgetary Transactions

Total--Small Business Administration Social Security Administration:

Payments to Social Security Trust Funds Supplemental Security Income Program

Federal Old-Age and Survivors Insurance Trust Fund (Off-Budget):

Benefit Payments

26	(**)	26	321	1	321	268	(**)	268
3,582	......	3,582	24,929	......	24,929	22,293	......	22,293
9	22	-14	88	25	62	99	(**)	99
......	4,115	-4,115	......	27,018	-27,018	......	21,196	-21,196
23	127	-105	134	295	-161	65	2	63


5,473	4,268	1,205	43,669	27,591	16,078	38,291	21,814	16,477
522		522	4,377		4,377	4,098		4,098
	......			......			......
68	......	68	562	......	562	464	......	464
465	......	465	3,337	......	3,337	2,900	......	2,900
270	......	270	1,812	......	1,812	1,910	......	1,910
436	......	436	2,928	......	2,928	2,927	......	2,927
102	......	102	1,017	......	1,017	836	......	836
......	(**)	(**)	......	20	-20	......	1	-1
(**)	......	(**)	(**)	......	(**)	-1	......	-1

1,862	()**	1,862	14,032	20	14,012	13,133	1	13,132
451		451	3,558		3,558	3,542		3,542
	......			......			......
62	......	62	605	......	605	606	......	606
30	......	30	396	......	396	347	......	347
......	1	-1	......	21	-21	......	29	-29

542	1	541	4,558	21	4,537	4,495	29	4,466

1,134	......	1,134	8,720	......	8,720	8,777	......	8,777
327	......	327	2,582	......	2,582	2,502	......	2,502
7,534	......	7,534	60,722	......	60,722	59,049	......	59,049
287	348	-61	2,164	2,545	-381	2,193	2,836	-643
4,078	5,245	-1,167	37,714	38,060	-346	36,913	37,475	-562
59	......	59	94	......	94	158	......	158
......	1	-1	......	2	-2	......	4	-4
-6	......	-6	-612	......	-612	-637	......	-637
-3	......	-3	-24	......	-24	-27	......	-27

13,409	5,594	7,815	111,361	40,607	70,754	108,927	40,314	68,613

322		322	-178	(**)	-178	330	(**)	329
	......
2,118	(**)	2,118	10,177	1	10,176	242	(**)	242
4,674	(**)	4,674	6,353	(**)	6,353	292	(**)	292
3,727	2	3,725	10,547	13	10,533	187	15	172
......	-4	4	......	1,277	-1,277	......	946	-946
(**)	......	(**)	(**)	......	(**)	(**)	......	(**)

10,841	-3	10,844	26,899	1,291	25,608	1,051	961	90

22		22	29,389		29,389	27,077		27,077
	......			......			......
5,375	......	5,375	40,733	......	40,733	44,616	......	44,616


79,142	......	79,142	621,909	......	621,909	586,141	......	586,141

Administrative Expenses	......140		140	2,309	......	2,309	2,640	......	2,640
--TotalFederal Old-Age and Survivors Insurance Trust
Fund (Off-Budget)	79,282	......	79,282	624,218	......	624,218	588,781	......	588,781
Federal Disability Insurance Trust Fund (Off-Budget):
Benefit Payments	12,231	......	12,231	96,820	......	96,820	96,558	......	96,558
Administrative Expenses	282......		282	1,735	......	1,735	1,867	......	1,867
--TotalFederal Disability Insurance Trust Fund
(Off-Budget)	12,512	......	12,512	98,555	......	98,555	98,425	......	98,425
Other	244	......	244	342	......	342	106	......	106
Proprietary Receipts from the Public:
On-Budget	......281		-281	......	1,895	-1,895	......	1,819	-1,819

21

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Social Security Administration: - Continued
Off-Budget	......	2	-2	......	116	-116	......	109	-109

Intrabudgetary Transactions:
Off-Budget ⁶	-22	......	-22	-29,388	......	-29,388	-27,076	......	-27,076
--TotalSocial Security Administration	97,414	284	97,130	763,849	2,011	761,838	731,928	1,928	730,000
Independent Agencies:
Broadcasting Board of Governors	75	(**)	75	513	(**)	513	500	(**)	500
Bureau of Consumer Financial Protection	54	......	54	333	(**)	333	305	(**)	305
Corporation for National and Community Service	66	(**)	66	626	(**)	625	625	2	623
Corporation for Public Broadcasting	......	......	......	540	......	540	465	......	465
District of Columbia:
Courts	28	......	28	217	......	217	209	(**)	209
General and Special Payments	29	(**)	29	499	62	437	476	55	421
Equal Employment Opportunity Commission	38	(**)	38	268	1	267	255	3	252
Export-Import Bank of the United States	90	184	-94	154	185	-31	578	402	176
Federal Communications Commission:
Universal Service Fund	700	......	700	5,361	......	5,361	6,615	......	6,615
Other	216	3	213	1,415	20	1,395	485	15	470
Federal Deposit Insurance Corporation:
Deposit Insurance Fund	-160	......	-160	-1,808	......	-1,808	-5,161	......	-5,161
FSLIC Resolution Fund	(**)	(**)	(**)	1	9	-8	(**)	14	-13
--TotalFederal Deposit Insurance Corporation	-160	(**)	-160	-1,806	9	-1,815	-5,160	14	-5,174
Federal Drug Control Programs	29	......	29	214	......	214	168	......	168

Federal Housing Finance Agency	26	......	26	193	......	193	176	......	176
Institute of Museum and Library Services	12	(**)	12	140	(**)	140	135	(**)	135
Intelligence Community Management Account	51	......	51	378	......	378	377	......	377
Legal Services Corporation	......	......	......	377	......	377	345	......	345
National Archives and Records Administration	45	(**)	45	298	17	281	262	11	251
National Credit Union Administration	28	503	-475	563	2,393	-1,830	777	1,160	-382
National Endowment for the Arts	14	(**)	14	110	1	110	104	(**)	104
National Endowment for the Humanities	14	......	14	96	(**)	96	86	1	86
National Labor Relations Board	27	(**)	27	185	(**)	185	180	(**)	180
Nuclear Regulatory Commission	89	1	89	613	369	244	602	563	39
Postal Service:
Off-Budget:
Public Enterprise Funds	6,739	5,842	897	58,935	59,529	-594	60,618	61,100	-483
Other	......	......	......	267	......	267	265	......	265
Other	......	......	......	57	......	57	55	......	55
Railroad Retirement Board:
Federal Windfall Subsidy	1	......	1	10	......	10	12	......	12
Federal Payments to the Railroad Retirement Accounts	(**)	......	(**)	521	......	521	567	......	567
Railroad Unemployment Insurance Trust Fund:
Benefit Payments	17	......	17	102	......	102	59	......	59
Transfer To Administrative Funds	1	......	1	12	......	12	13	......	13
Other	(**)	......	(**)	(**)	......	(**)	......	......	......
Rail Industry Pension Fund:
Benefit Payments	466	......	466	3,719	......	3,719	3,691	......	3,691
OASDI Certifications	(**)	......	(**)	-1	......	-1	-1	......	-1
Transfer to Administrative Funds	6	......	6	63	......	63	64	......	64
Other	(**)	......	(**)	32	......	32	(**)	......	(**)
National Railroad Retirement Investment Trust:
Administrative Expenses	5	......	5	42	......	42	40	......	40
Transfers to the Railroad Retirement Trust Funds from
the National Railroad Retirement Investment Trust	69	......	69	1,319	......	1,319	1,337	......	1,337
Railroad Social Security Equivalent Benefit Account:
Benefit Payments	627	......	627	5,033	......	5,033	4,921	......	4,921
Transfer To Administrative Funds	2	......	2	21	......	21	24	......	24
Other	12	......	12	-8	......	-8	-23	......	-23
Proprietary Receipts from the Public	......	1,170	-1,170	......	-857	857	......	280	-280
Intrabudgetary Transactions:
Other	-70	......	-70	-1,841	......	-1,841	-1,907	......	-1,907
--TotalRailroad Retirement Board	1,139	1,170	-31	9,025	-857	9,882	8,797	280	8,517
Securities and Exchange Commission
	252	(**)	252	705	1	703	839	2	838

22

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Independent Agencies: - Continued
Smithsonian Institution	93	......	93	787	(**)	787	698	(**)	698
Tennessee Valley Authority	4,907	5,638	-731	38,141	39,258	-1,117	27,739	28,507	-768
Other	309	39	270	3,425	479	2,946	2,701	533	2,168
Total Independent Agencies
--	14,910	13,380	1,531	122,629	101,468	21,161	110,279	92,647	17,632
Undistributed Offsetting Receipts:
Other Interest	(**)	......	(**)	(**)	(**)	-1	-1	(**)	-1
Employer Share, Employee Retirement:
Department of Health and Human Services:
Federal Hospital Insurance Trust Fund:
Federal Employer Contributions	-343	......	-343	-2,657	......	-2,657	-2,538	......	-2,538
Postal Service Employer Contributions	-54	......	-54	-441	......	-441	-432	......	-432
Department of State:
Foreign Service Retirement and Disability Fund	-29	......	-29	-243	......	-243	-238	......	-238
Other Defense Civil Programs:
Military Retirement Fund	-1,751	......	-1,751	-22,714	......	-22,714	-21,446	......	-21,446
Department of Defense Medicare-Eligible Retiree Health
Care Fund	......	......	......	-8,050	......	-8,050	-7,763	......	-7,763

Office of Personnel Management:
Civil Service Retirement and Disability Fund	-3,598	......	-3,598	-24,762	......	-24,762	-21,044	......	-21,044
Social Security Administration:
Federal Old-Age and Survivors Insurance Trust Fund:
Federal Employer Contributions	-1,431	......	-1,431	-10,602	......	-10,602	-9,925	......	-9,925
Federal Disability Insurance Trust Fund:
Federal Employer Contributions	-243	......	-243	-1,800	......	-1,800	-1,914	......	-1,914
Other	(**)	......	(**)	-2	......	-2	-2	......	-2
Total--Employer Share, Employee Retirement	-7,449	......	-7,449	-71,271	......	-71,271	-65,303	......	-65,303
Interest Received by Trust Funds:


Judicial Branch:
Judicial Survivors Annuity Fund	-3	......	-3	-14	......	-14	-6	......	-6
Department of Health and Human Services:
Federal Hospital Insurance Trust Fund	-390	......	-390	-4,174	......	-4,174	-3,565	......	-3,565
Federal Supplementary Medical Insurance Trust Fund	-15	......	-15	-1,463	......	-1,463	-1,434	......	-1,434
Department of Homeland Security:
Oil Spill Liability Trust Fund	-4	......	-4	-59	......	-59	-99	......	-99
Other	-3	......	-3	-27	......	-27	-20	......	-20
Department of Labor:
Unemployment Trust Fund	-20	......	-20	-1,122	......	-1,122	-901	......	-901
Department of State:
Foreign Service Retirement and Disability Fund	(**)	......	(**)	-268	......	-268	-277	......	-277
Department of Transportation:
Airport and Airway Trust Fund	-32	......	-32	-226	......	-226	-188	......	-188
Department of Veterans Affairs:
National Service Life Insurance Fund	-1	......	-1	-46	......	-46	-58	......	-58
United States Government Life Insurance Fund	(**)	......	(**)	(**)	......	(**)	(**)	......	(**)
Corps of Engineers	-9	......	-9	-110	......	-110	-146	......	-146
Other Defense Civil Programs:
Military Retirement Fund	1,087	......	1,087	-11,559	......	-11,559	-15,899	......	-15,899
Educational Benefits Fund	(**)	......	(**)	-11	......	-11	-9	......	-9
Armed Forces Retirement Home	(**)	......	(**)	-1	......	-1	-1	......	-1
Environmental Protection Agency	(**)	......	(**)	-72	......	-72	-66	......	-66
Office of Personnel Management:
Civil Service Retirement and Disability Fund	-23	......	-23	-12,744	......	-12,744	-12,954	......	-12,954
Social Security Administration:
Federal Old-Age and Survivors Insurance Trust Fund	-17	......	-17	-38,205	......	-38,205	-40,001	......	-40,001
Federal Disability Insurance Trust Fund	-4	......	-4	-1,423	......	-1,423	-1,428	......	-1,428
Independent Agencies:
Railroad Retirement Board	-26	......	-26	-91	......	-91	-35	......	-35
Other	-2	......	-2	-28	......	-28	-16	......	-16
Other	-2	......	-2	-409	......	-409	-761	......	-761
Total--Interest Received by Trust Funds	535	......	535	-72,053	......	-72,053	-77,863	......	-77,863
Rents and Royalties on the Outer Continental Shelf Lands
	......	-48	48	......	2,774	-2,774	......	4,580	-4,580

Spectrum Auction Proceeds	......	......	......	......	......	......	-1,155	......	-1,155
Total Undistributed Offsetting Receipts
--	-6,914	-48	-6,866	-143,324	2,774	-146,099	-144,322	4,581	-148,903
Total Outlays	613,000	40,318	572,682	4,225,662	326,126	3,899,536	3,333,834	320,293	3,013,541
Total On-Budget
	516,183	34,474	481,710	3,525,106	266,481	3,258,625	2,666,089	259,083	2,407,006
Total Off-Budget	96,817	5,845	90,972	700,557	59,645	640,912	667,745	61,210	606,535

23

Table 5. Outlays of the U.S. Government, May 2020 and Other Periods - Continued

[$ millions]

Classification

	This Month		Current Fiscal Year to Date			Prior Fiscal Year to Date
Gross	Applicable	Outlays	Gross	Applicable	Outlays	Gross	Applicable	Outlays
Outlays	Receipts		Outlays	Receipts		Outlays	Receipts

Total Surplus (+) or Deficit (-)

-398,821

-1,880,296

-738,638

Total On-Budget

-385,282

-1,876,981

-737,149

Total Off-Budget

-13,539

-3,315

-1,489

MEMORANDUM

Receipts Offset Against Outlays (In Millions)

Current

Comparable

Fiscal Year to

Period Prior

Date

Fiscal Year

Proprietary Receipts

149,002

156,503

Intrabudgetary Transactions

624,991

518,963

Governmental Receipts

8,432

10,389

Total Receipts Offset Against Outlays

782,426

685,855

1	Applicable Receipts decreased by $137 million due to additional reporting for	5	Includes $268 billion for Economic Impact Payments to individuals and families.
	the month of April 2020.	6	Includes FICA and SECA tax credits, non-contributory military service credits,
2	Gross Outlays increased by $125 million due to additional reporting for the		special benefits for the aged and credit for the unnegotiated OASI benefit
	month of April 2020.		checks.
3	Applicable Receipts increased by $90 million due to additional reporting for the		Note: Details may not add to totals due to rounding.
	month of April 2020.		... No Transactions
4	Includes $51 billion for Economic Impact Payments to individuals and families.		(**) Less than absolute value of $500,000

24

Table 6. Means of Financing the Deficit or Disposition of Surplus by the U.S. Government, May 2020 and Other Periods

[$ millions]

		Net Transactions		Account Balances
Assets and Liabilities	(-) denotes net reduction of either
	liability or asset accounts			Current Fiscal Year
Directly Related to
Budget Off-Budget Activity	This Month	Fiscal Year to Date		Beginning of		Close of
		This Year	Prior Year	This Year	This Month	This Month
Liability Accounts:
Borrowing from the Public:
Treasury Securities, Issued Under General Financing Authorities:
Debt Held by the Public	759,163	3,003,689	441,128	16,809,091	19,053,618	19,812,781
Intragovernmental Holdings	12,926	23,169	69,237	5,910,309	5,920,553	5,933,479
Total Treasury Securities Outstanding	772,088	3,026,858	510,366	22,719,402	24,974,172	25,746,260
Plus Premium on Treasury Securities
	392	8,690	2,073	32,781	41,078	41,471
Less Discount on Treasury Securities	-787	3,639	3,275	105,621	110,047	109,261
Total Treasury Securities Net of Premium and Discount	773,267	3,031,909	509,164	22,646,560	24,905,202	25,678,469
Agency Securities, Issued Under Special Financing Authorities (See

Schedule B; for Other Agency Borrowing, See Schedule C)	-704	-1,050	-672	21,455	21,109	20,405
Total Federal Securities	772,563	3,030,859	508,492	22,668,015	24,926,311	25,698,875
Deduct:
Federal Securities Held as Investments of Government Accounts
(See Schedule D)	12,538	21,506	69,254	5,893,424	5,902,393	5,914,931

Less Discount on Federal Securities Held as Investments of
Government Accounts	-38	-1,790	1,479	28,201	26,448	26,410
Net Federal Securities Held as Investments of Government
Accounts	12,575	23,297	67,775	5,865,224	5,875,945	5,888,520
Total Borrowing from the Public	759,988	3,007,563	440,717	16,802,792	19,050,367	19,810,354
Accrued Interest Payable to the Public	-14,763	-2,361	-13,485	73,285	85,687	70,924
Allocations of Special Drawing Rights	198	308	-623	48,146	48,255	48,454
Uninvested Balances, Deposit Funds	1,535	7,478	203,070	26,129	¹32,071	33,607
Miscellaneous Liability Accounts (Includes Checks Outstanding Etc.)	4,557	25,483	2,263	8,483	29,409	33,966
Total Liability Accounts
	751,516	3,038,471	631,942	16,958,835	19,245,790	19,997,306
Asset Accounts (Deduct)
Cash and Monetary Assets:
U.S. Treasury Operating Cash:
Federal Reserve Account ²	269,095	1,066,646	-151,838	382,483	1,180,035	1,449,129
Balance	269,095	1,066,646	-151,838	382,483	1,180,035	1,449,129
Special Drawing Rights:


Total Holdings	227	445	-481	49,976	50,194	50,421
SDR Certificates Issued to Federal Reserve Banks	......	......	......	-5,200	-5,200	-5,200
Balance	227	445	-481	44,776	44,994	45,221
Reserve Position on the U.S. Quota in the IMF:


U.S. Subscription to International Monetary Fund:
Direct Quota Payments	......	......	......	111,629	111,629	111,629
Maintenance of Value Adjustments	466	723	-1,463	1,517	1,774	2,241
Letter of Credit Issued to IMF	2,850	4,187	6,226	-91,228	-89,891	-87,041
Dollar Deposits with the IMF	-32	-7	-11	-304	-280	-312
Receivable/Payable (-) for Interim Maintenance of Value
Adjustments	-348	-550	1,227	1,341	1,138	791

Balance	2,937	4,352	5,979	22,955	24,371	27,308
Loans to International Monetary Fund
	......	-698	-2,075	2,759	2,061	2,061
Other Cash and Monetary Assets	-43	-557	-114	26,541	26,028	25,985
Total Cash and Monetary Assets
	272,215	1,070,189	-148,529	479,515	1,277,489	1,549,704
Non-Federal Securities of the National Railroad Retirement

Investment Trust	1,099	-1,909	-1,013	24,058	21,049	22,149
Net Activity, Guaranteed Loan Financing (See Schedule E)	-1,692	-5,658	23,438	32,488	28,522	26,830
Net Activity, Direct Loan Financing (See Schedule E)	81,913	95,062	19,453	1,414,936	1,428,084	1,509,998
Miscellaneous Asset Accounts	-723	586	-466	-961	348	-375
Total Asset Accounts	352,813	1,158,270	-107,117	1,950,036	2,755,493	3,108,306
Excess of Liabilities (+) or Assets (-)
	398,703	1,880,201	739,059	15,008,798	16,490,297	16,889,000
Transactions Not Applied to Current Year's Surplus or Deficit (See

Schedule A for Details)	118	95	-420	......	-24	95
Total Budget and Off-Budget Federal Entities (Financing of Deficit (+)

or Disposition of Surplus (-))	398,821	1,880,296	738,638	15,008,798	16,490,273	16,889,095

1 The balance increased by $172 million due to additional reporting by the Department of the Interior and the Department of Health and Human Services for April 2020.

2 Major sources of information used to determine Treasury's operating cash balance include Federal Reserve Banks, Treasury Regional Finance Centers, Internal

Revenue Service Centers, various electronic systems, and information on the Public Debt. Information is presented on a modified cash basis. Deposits are reflected as received and withdrawals are reflected as processed. Note: Details may not add to totals due to rounding.

... No Transactions

25

Table 6. Schedule A-Analysis of Change in Excess of Liabilities of the U.S. Government, May 2020 and Other Periods

	[$ millions]
Classification	This Month	Fiscal Year to Date

		This Year	Prior Year


Excess of Liabilities Beginning of Period:
Based on Composition of Unified Budget in Preceding Period	16,490,125	15,008,728	14,164,924
Adjustments During Current Fiscal Year for Changes in Composition of
Unified Budget:

Revisions by Federal Agencies to the Prior Budget Results	172	......	-140,646
Excess of Liabilities Beginning of Period (Current Basis)	16,490,297	15,008,798	14,024,278
Budget Surplus (-) or Deficit:
Based on Composition of Unified Budget in Prior Fiscal Year	398,821	1,880,296	738,638
Total Surplus (-) or Deficit (Table 2)	398,821	1,880,296	738,638
Total-On-Budget (Table 2)
	385,282	1,876,981	737,149
Total-Off-Budget (Table 2)	13,539	3,315	1,489
Transactions Not Applied to Current Year's Surplus or Deficit:

Premium/Discount on Buyback of U.S. Treasury Securities	......	(**)	-2
Other	-118	-95	422
Total-Transactions Not Applied to Current Year's Surplus or Deficit	-118	-95	420
Excess of Liabilities Close of Period
	16,889,000	16,889,000	14,763,336

Note: Details may not add to totals due to rounding.	(**) Less than absolute value of $500,000
... No Transactions

Table 6. Schedule B-Securities Issued by Federal Agencies Under Special Financing Authorities, May 2020 and Other Periods

[$ millions]

Classification

	Net Transactions			Account Balances
(-) denotes net reduction of
	liability accounts			Current Fiscal Year
This Month	Fiscal Year to Date		Beginning of			Close of
	This Year	Prior Year	This Year		This Month	This Month

Agency Securities, Issued Under Special Financing Authorities:

Obligations Guaranteed by the United States, Issued By:
Department of Housing and Urban Development:

Federal Housing Administration	......	......	......	19	19	19
Obligations Not Guaranteed by the United States, Issued By:

Legislative Branch:
Architect of the Capitol	(**)	-5	-4	69	64	64

Independent Agencies:
Federal Communications Commission	......	......	......	(**)	(**)	(**)

National Archives and Records Administration	......	......	-13	(**)	(**)	(**)
Tennessee Valley Authority	-705	-1,045	-655	21,367	21,027	20,322

Total Agency Securities	-704	-1,050	-672	21,455	21,109	20,405

Note: Details may not add to totals due to rounding.	(**) Less than absolute value of $500,000
... No Transactions

26

Table 6. Schedule C (Memorandum)-Federal Agency Borrowing Financed Through the Issue of Treasury Securities, May 2020 and Other Periods

[$ millions]

		Transactions		Account Balances
Classification				Current Fiscal Year
	This Month	Fiscal Year to Date		Beginning of		Close of
		This Year	Prior Year	This Year	This Month	This Month

Borrowing from the US Treasury:
Department of Agriculture:
Farm Service Agency:
Commodity Credit Corporation	6,093	1,726	9,813	24,862	20,495	26,588
Agricultural Credit Insurance Fund	306	555	-696	13,084	13,333	13,639
Farm Storage Facility Loans	4	73	86	1,067	1,136	1,140
Apple Loans Fund	......	......	......	(**)	(**)	(**)
Emergency Boll Weevil Loan Fund	......	-1	-1	4	3	3
Rural Housing Service:
Rural Housing Insurance	84	-477	370	18,783	18,222	18,306
Rural Community Facility Loans Fund	77	157	1,085	10,368	10,447	10,525
Multifamily Housing Revitalization Loan Account	1	23	(**)	454	476	477
Rural Business - Cooperative Service:
Rural Business and Industry Loans	......	-59	-12	88	30	30
Rural Development Loan Fund	1	-15	2	304	288	289
Rural Economic Development Loan Fund	......	-23	15	221	198	198
Renewable Energy Guaranteed Loan Account	......	-1	(**)	1	(**)	(**)
Rural Microenterprise Investment Loans	......	-1	1	44	43	43
Biorefinery Assistance Loan Account	......	-2	-13	2	......	......
Rural Utilities Service:
Rural Water and Waste Disposal Fund	74	70	388	13,270	13,267	13,341
Rural Electrification and Telecommunications Fund	36	-382	340	6,865	6,447	6,483
Rural Telephone Bank	......	-29	-3	118	90	90
Distance Learning and Telemedicine Program	(**)	-189	-10	788	599	599
Foreign Agricultural Service	......	......	......	432	432	432
Department of Commerce:
National Oceanic and Atmospheric Administration:
Fisheries Finance	6	22	28	395	411	417
Department of Defense--Military Programs:
Family Housing Improvement Loans	......	......	25	1,714	1,714	1,714
Department of Education:
College Housing and Academic Facilities Loans	......	(**)	......	16	16	16
Federal Direct Student Loans	......	82,681	93,939	1,211,865	1,294,546	1,294,546
Teach Grant Loans	......	80	45	651	731	731
Temporary Student Loan Purchase Authority	......	-250	-872	39,713	39,462	39,462
Federal Family Education Loans	......	6,682	34	35,265	41,947	41,947
Department of Energy:
Bonneville Power Administration Fund	50	540	-232	5,280	5,770	5,820
Western Area Power Administration - Recovery Act	......	......	-21	76	76	76
Title 17 Innovative Technology Loans	-69	-2	165	748	815	746
Department of Health and Human Services:
Consumer Operated and Oriented Plan	......	......	......	149	149	149
Consumer Operated and Oriented Plan Program Contingency Fund	......	......	......	58	58	58
Department of Homeland Security:
National Flood Insurance Fund	......	......	......	20,525	20,525	20,525
Disaster Assistance Loan Fund	(**)	2	2	71	72	73
Department of Housing and Urban Development:
Public and Indian Housing Programs:
Low-Rent Public Housing - Loans and Other Expenses	......	......	......	12	12	12
Native Hawaiian Housing Loans	......	1	(**)	2	3	3
Housing Programs:
Federal Housing Administration	......	14,336	8,625	30,386	44,722	44,722
Green Retrofit Program for Multifamily Housing-Recovery Act	......	......	......	10	10	10
Department of the Interior:
Bureau of Indian Affairs and Bureau of Indian Education	......	......	......	5	5	5
Bureau of Reclamation Loan Fund	......	......	......	29	29	29
Assistance to American Samoa Loan Fund	......	(**)	(**)	8	8	8
Department of Labor:
Black Lung Disability Trust Fund	......	110	......	4,419	4,529	4,529
Department of State:
Repatriation Loans	......	3	2	3	7	7

27

Table 6. Schedule C (Memorandum)-Federal Agency Borrowing Financed Through the Issue of Treasury Securities, May 2020 and Other Periods - Continued

[$ millions]

		Transactions		Account Balances
Classification				Current Fiscal Year
	This Month	Fiscal Year to Date		Beginning of		Close of
		This Year	Prior Year	This Year	This Month	This Month

Borrowing from the US Treasury: - Continued
Department of Transportation:
Federal Highway Administration:
Transportation Infrastructure Finance and Innovation Fund	77	984	1,030	19,445	20,351	20,429
Federal Railroad Administration:
Railroad Rehabilitation and Improvement Loan Fund	20	270	719	1,187	1,436	1,456
Other	......	......	......	(**)	(**)	(**)
Maritime Administration:
Maritime Guaranteed Loan (Title XI) Fund	......	......	5	125	125	125
Maritime Guaranteed Loan (Title XI) FFB Financing Account	......	1	......	......	1	1
Department of the Treasury:
Departmental Offices:
Community Development Financial Institutions Fund	5	8	10	96	99	104
Temporary Credit and Liquidity Program	......	......	......	3,709	3,709	3,709
Troubled Asset Relief Program	......	-2	-18	35	32	32
Small Business Lending Financing Fund	-104	-104	......	153	153	49
ESF - Economic Stabilization Program	81,442	81,442	......	......	......	81,442
Federal Financing Bank Revolving Fund	509	7,679	1,961	63,751	70,921	71,430
Department of Veterans Affairs:
Veterans Housing Benefit Program Fund	......	50	104	492	542	542
Native American Veteran Housing Fund	......	4	3	73	77	77
Vocational Rehabilitation Loan Fund	......	2	2	1	3	3
Corps of Engineers:
Washington Aqueduct	......	(**)	(**)	(**)	(**)	(**)
Environmental Protection Agency:
Water Infrastructure Finance and Innovation Loan Program	......	165	(**)	(**)	165	165
International Assistance Programs:
International Security Assistance:
Foreign Military Loan Program	......	......	......	3,066	3,066	3,066
Military Debt Reduction	......	......	......	48	48	48
Agency for International Development:
Development Credit Authority Loan Fund	......	-8	......	8	......	......
Overseas Private Investment Corporation	......	-3,829	529	3,829	......	......
United States International Development Finance Corporation	81	4,399	......	......	4,318	4,399
Small Business Administration:
Business Loan Fund	10	156	-66	2,220	2,366	2,376
Disaster Loan Fund	30,000	56,118	1,353	9,590	35,708	65,708
Independent Agencies:
Export-Import Bank of the United States	......	......	46	16,946	16,946	16,946
Presidio Trust	......	......	......	38	38	38
Railroad Retirement Board:
Social Security Equivalent Benefit Account	395	2,936	2,777	3,934	6,475	6,870
Smithsonian Institution:
John F. Kennedy Center Parking Facilities	......	......	......	20	20	20
Other:
Borrowing from the US Treasury - Other	......	(**)	......	......	(**)	(**)
Total Borrowing from the US Treasury	119,098	255,901	121,560	1,570,919	1,707,721	1,826,820
Borrowing from the Federal Financing Bank:
Department of Agriculture:
Rural Utilities Service:
Rural Electrification and Telecommunications Fund	496	2,397	1,168	46,289	48,190	48,686
Department of Education:
Historically Black College and University Capital Financing
Fund	(**)	23	29	1,479	1,501	1,502

Department of Energy:
Advanced Technology Vehicles Manufacturing Loans	......	-295	-295	1,618	1,323	1,323
Title 17 Innovative Technology Loans	-19	763	1,809	12,804	13,586	13,567
Department of Health and Human Services:
Health Maintenance Organization Loan and Loan Guarantee Fund	......	......	......	(**)	(**)	(**)
Department of Housing and Urban Development:
Housing Programs:
Federal Housing Administration	11	305	204	1,969	2,263	2,274

28

Table 6. Schedule C (Memorandum)-Federal Agency Borrowing Financed Through the Issue of Treasury Securities, May 2020 and Other Periods - Continued

[$ millions]

		Transactions		Account Balances
Classification				Current Fiscal Year
	This Month	Fiscal Year to Date		Beginning of		Close of
		This Year	Prior Year	This Year	This Month	This Month

Borrowing from the Federal Financing Bank: - Continued
Department of Transportation:
Maritime Administration:
Maritime Guaranteed Loan (Title XI) FFB Financing Account	......	186	......	......	186	186
Department of the Treasury:
Departmental Offices:
Community Development Financial Institutions Fund	1	56	226	1,017	1,072	1,073
Department of Veterans Affairs:
Guaranteed Transitional Housing Loans for Homeless Veterans	......	(**)	(**)	4	4	4
Independent Agencies:
Postal Service	......	3,400	-2,200	11,000	14,400	14,400
Total Borrowing from the Federal Financing Bank	490	6,835	941	76,180	82,525	83,015

Note: Details may not add to totals due to rounding.

Note: This table includes lending by the Federal Financing Bank accomplished by the purchase of agency financial assets, by the acquisition of agency debt securities, and by direct loans on behalf of an agency. The Federal Financing Bank borrows from Treasury and issues its own securities and in turn may loan

these funds to agencies in lieu of agencies borrowing directly through Treasury

or issuing their own securities.

... No Transactions

(**) Less than absolute value of $500,000

29

Table 6. Schedule D-Investments of Federal Government Accounts in Federal Securities, May 2020 and Other Periods

[$ millions]

Classification

Net Purchases or Sales (-)			Securities Held as Investments
				Current Fiscal Year


This Month	Fiscal Year to Date		Beginning of			Close of
	This Year	Prior Year	This Year		This Month	This Month

Federal Funds:
Department of Agriculture	......	12	11	226	238	238
Department of Commerce	......	2	2	......	2	2
Department of Defense--Military Programs:
Defense Cooperation Account	(**)	(**)	(**)	8	8	8
Department of Energy	-134	287	-67	55,848	56,269	56,135
Department of Health and Human Services	......	11,006	10,236	......	11,006	11,006
Department of Homeland Security	620	278	488	1,525	1,184	1,803
Department of Housing and Urban Development:
Housing Programs:
Federal Housing Administration Fund	569	3,868	20,745	50,601	53,899	54,468
Government National Mortgage Association:
Guarantees of Mortgage-Backed Securities	-427	-7,762	-192	15,784	8,449	8,022
Department of the Interior	-266	397	358	9,921	10,585	10,319
Department of Justice	142	148	-1,032	1,040	1,047	1,188
Department of Labor	899	4,336	3,879	37,020	40,458	41,357
Department of State:
Foreign Service Retirement and Disability Fund	(**)	7	5	23	29	30
Other	......	(**)	(**)	15	15	15
Department of Transportation	495	-80	29	2,343	1,768	2,263
Department of the Treasury	-1,526	-11,444	240	23,842	13,924	12,398
Department of Veterans Affairs:
Veterans Reopened Insurance Fund	-2	-13	-13	84	72	70
Servicemen'S Group Life Insurance Fund	150	603	(**)	301	754	904
Other Defense Civil Programs:
Uniformed Services Retiree Health Care Fund	-993	15,403	13,857	254,176	270,572	269,579
Office of Personnel Management:
Postal Service Contributions	-320	-1,970	-2,318	44,611	42,961	42,640
Independent Agencies:
Federal Deposit Insurance Corporation:
Deposit Insurance Fund	156	1,667	5,345	104,015	105,526	105,682
FSLIC Resolution Fund	(**)	9	14	872	881	881
Federal Housing Finance Agency	-23	104	84	71	199	175
National Credit Union Administration	469	1,811	387	15,736	17,079	17,547
Postal Service	-967	3,873	-1,905	9,341	14,181	13,214
Tennessee Valley Authority	......	-25	(**)	25	......	......
Other
Treasury Securities	285	-61	-1,549	11,501	11,155	11,440
Other	44	1,420	-366	8,581	9,957	10,001
Total Treasury Securities	-830	23,875	48,237	647,510	672,216	671,385
Total Federal Funds
	-830	23,875	48,237	647,510	672,216	671,385
Trust Funds:
Legislative Branch:
Library of Congress	1	2	4	23	24	25
United States Tax Court	(**)	(**)	(**)	13	13	13
Other	(**)	3	1	29	32	32
Judicial Branch:
Judicial Retirement Funds	(**)	182	118	1,304	1,486	1,486
Department of Agriculture	......	......	(**)	6	6	6
Department of Commerce	1,237	78	1,296	7,561	6,403	7,639
Department of Defense--Military Programs:
Voluntary Separation Incentive Fund	-3	9	6	89	102	98
Other	152	34	448	1,735	1,617	1,769
Department of Health and Human Services:
Federal Supplementary Medical Insurance Trust Fund	9,200	-11,973	-12,538	104,716	83,543	92,743
Other	-1,251	-69,934	-15,870	202,509	133,826	132,575
Department of Homeland Security	68	169	351	8,853	8,954	9,023
Department of the Interior	15	95	-8	36	116	131
Department of Labor:
Unemployment Trust Fund	31,781	20,184	12,004	84,361	72,764	104,546
Other	-10	-12	-17	64	62	52
Department of State:
Foreign Service Retirement and Disability Fund	83	292	44	19,318	19,527	19,610

30

Table 6. Schedule D-Investments of Federal Government Accounts in Federal Securities, May 2020 and Other Periods - Continued

[$ millions]

Classification

Net Purchases or Sales (-)			Securities Held as Investments
				Current Fiscal Year


This Month	Fiscal Year to Date		Beginning of			Close of
	This Year	Prior Year	This Year		This Month	This Month

Trust Funds: - Continued
Other	(**)	-1	-2	46	45	45
Department of Transportation:
Airport and Airway Trust Fund	-3,466	-2,867	1,408	15,018	15,617	12,151
Highway Trust Fund	-4,283	-9,369	-4,165	28,192	23,106	18,823
Department of the Treasury	-78	77	192	3,578	3,733	3,656
Department of Veterans Affairs:
General Post Fund, National Homes	......	(**)	-6	119	120	120
National Service Life Insurance	-48	-360	-403	2,456	2,144	2,096
United States Government Life Insurance Fund	(**)	(**)	(**)	2	2	2
Veterans Special Life Insurance Fund	-14	-99	-91	1,357	1,272	1,258
Corps of Engineers	-25	286	1,397	9,454	9,766	9,740
Other Defense Civil Programs:
Military Retirement Fund	-4,531	94,224	80,823	827,414	926,168	921,637
Other	17	-52	-7	1,158	1,088	1,105
Environmental Protection Agency	-111	354	559	6,024	6,489	6,378
National Aeronautics and Space Administration	......	-1	-1	16	15	15
Office of Personnel Management:
Civil Service Retirement and Disability Fund
Treasury Securities	-3,410	-19,773	-44,811	939,703	923,340	919,930
Employees Life Insurance Fund	61	352	939	48,199	48,490	48,551
Employees and Retired Employees Health Benefits Fund	1,167	303	754	27,802	26,939	28,105
Social Security Administration:
Federal Old-Age and Survivors Insurance Trust Fund	-11,808	-2,393	-6,467	2,804,396	2,813,811	2,802,004
Federal Disability Insurance Trust Fund	-1,021	-1,312	4,757	96,520	96,229	95,208
Independent Agencies:
Harry S Truman Scholarship Foundation	......	-10	-10	51	41	41
Japan-United States Friendship Commission	......	......	-1	35	35	35
Railroad Retirement Board
Treasury Securities	-269	-721	73	2,606	2,153	1,885
Other
Treasury Securities	-89	-138	238	1,149	1,100	1,011
Total Treasury Securities	13,368	-2,369	21,017	5,245,914	5,230,177	5,243,545
Total Trust Funds	13,368	-2,369	21,017	5,245,914	5,230,177	5,243,545
Grand Total
	12,538	21,506	69,254	5,893,424	5,902,393	5,914,931

Note: Details may not add to totals due to rounding.	... No Transactions
Note: Investments are in Treasury securities unless otherwise noted.	(**) Less than absolute value of $500,000

31

Table 6. Schedule E-Net Activity, Guaranteed and Direct Loan Financing, May 2020 and Other Periods

[$ millions]

Classification

	Net Transactions			Account Balances
(-) denotes net reduction of
				Current Fiscal Year
	asset accounts

This Month	Fiscal Year to Date		Beginning of			Close of
						This Month
	This Year	Prior Year	This Year		This Month

Guaranteed Loan Financing Activity:
Department of Agriculture:
Farm Service Agency:
Commodity Credit Corporation Export Fund	10	-23	-37	183	150	160
Agricultural Credit Insurance Fund	-4	-7	-2	-207	-210	-214
Natural Resources Conservation Service:
Agricultural Resource Conservation Demonstration Program	......	......	......	(**)	(**)	(**)
Rural Housing Service:
Rural Community Facility Loans	(**)	1	-1	-42	-41	-41
Rural Housing Insurance Fund	-8	2	57	851	860	852
Rural Business - Cooperative Service:
Rural Business and Industry Loans	9	-8	-25	-157	-173	-165
Renewable Energy Guaranteed Loan Account	-1	-3	-8	-50	-53	-53
Biorefinery Assistance Loan Account	......	-1	-4	-47	-49	-49
Rural Utilities Service:
Rural Water and Waste Disposal Fund	(**)	(**)	(**)	-25	-25	-25
Department of Commerce:
General Administration:
Emergency Oil, Gas, and Steel Account	......	......	......	5	5	5
Department of Defense--Military Programs	......	......	......	-60	-60	-60
Department of Education:
Office of Student Financial Assistance:
Federal Family Education Loans	-123	-1,241	-1,012	23,825	22,707	22,584
Department of Energy:
Title 17 Innovative Technology Loans	......	-51	21	-126	-177	-177
Department of Health and Human Services:
Health Resources and Services Administration:
Health Center Loans	(**)	(**)	......	-1	-1	-1
Health Education Assitance Loans	......	......	......	-70	-70	-70
Department of Housing and Urban Development:
Public and Indian Housing Programs:
Indian Housing Loans	32	26	-7	-135	-141	-109
Native Hawaiian Housing Loans	-2	-2	-1	-1	-1	-3
Community Planning and Development:
Community Development Loans	(**)	9	-1	-14	-5	-5
Housing Programs:
FHA-Mutual Mortgage Insurance Loans	-149	1,108	20,554	19,700	20,956	20,807
FHA-General and Special Risk Fund	204	1,135	1,684	-2,389	-1,458	-1,254
Home Ownership Preservation Entity Fund	(**)	(**)	(**)	-17	-17	-17
Government National Mortgage Association:
Guarantees of Mortgage-Backed Securities	-571	-1,621	-1,187	6,253	5,203	4,632
Department of the Interior:
Bureau of Indian Affairs and Bureau of Indian Education	-1	-4	-23	-46	-49	-50
Department of Transportation:
Office of the Secretary:
Minority Business Resource Center Fund	(**)	(**)	......	(**)	(**)	(**)
Federal Highway Administration:
Transportation Infrastructure Finance and Innovation Fund	......	......	......	(**)	(**)	(**)
Maritime Administration:
Maritime Guaranteed Loan (Title XI) Fund	-12	-11	-26	-51	-49	-62
Department of the Treasury:
Departmental Offices:
Air Transportation Stabilization Fund	......	......	......	(**)	(**)	(**)
Troubled Assets Insurance Financing Fund	......	......	......	(**)	(**)	(**)
Troubled Asset Relief Program	1	1	1	-2	-2	-1
Department of Veterans Affairs:
Veterans Benefits Administration:
Veterans Housing Benefit Program Fund	-174	1,946	2,710	-9,169	-7,050	-7,223
International Assistance Programs:
Agency for International Development:

32

Table 6. Schedule E-Net Activity, Guaranteed and Direct Loan Financing, May 2020 and Other Periods - Continued

[$ millions]

Classification

	Net Transactions			Account Balances
(-) denotes net reduction of
				Current Fiscal Year
	asset accounts

This Month	Fiscal Year to Date		Beginning of			Close of
						This Month
	This Year	Prior Year	This Year		This Month

Guaranteed Loan Financing Activity: - Continued
Ukraine Export Credit Insurance Fund	......	......	......	-1,098	-1,098	-1,098
Loan Guarantees to Israel	......	......	......	-1,178	-1,178	-1,178
Urban and Environmental Credit Guaranteed Loans	......	2	2	-39	-38	-38
Microenterprise and Small Enterprise Development	......	......	......	(**)	(**)	(**)
Development Credit Authority Loan Fund	......	2	-5	-101	-99	-99
Tunisia Loan Fund	......	......	......	-1,325	-1,325	-1,325
Overseas Private Investment Corporation	......	23	88	255	278	278
United States International Development Finance Corporation	8	13	......	......	6	13
Urban and Environmental Credit	1	1	......	......	(**)	1
Small Business Administration:
Business Loan Fund	-1,019	-7,051	384	-1,662	-7,694	-8,713
Independent Agencies:
Export-Import Bank of the United States	108	96	276	-568	-580	-472
Net Activity, Guaranteed Loan Financing	-1,692	-5,658	23,438	32,488	28,522	26,830
Direct Loan Financing Activity:

Department of Agriculture:
Farm Service Agency:
Agricultural Credit Insurance Fund	181	565	66	11,550	11,934	12,115
Farm Storage Facility Loans	-20	22	50	819	862	842
Apple Loans Fund	......	......	......	(**)	(**)	(**)
Emergency Boll Weevil Loan Fund	......	-2	-1	3	2	2
Rural Housing Service:
Rural Community Facility Loans Fund	-16	279	814	9,512	9,807	9,791
Rural Housing Insurance Fund	-42	-362	-387	15,735	15,415	15,373
Multifamily Housing Revitalization Loan Account	(**)	29	13	416	445	445
Rural Business - Cooperative Service:
Rural Business and Industry Loan Fund	(**)	(**)	(**)	(**)	-1	-1
Rural Development Loan Fund	(**)	-12	-11	280	269	268
Rural Economic Development Loan Fund	-2	-12	7	185	175	173
Rural Microenterprise Investment Loans	(**)	(**)	(**)	40	40	40
Rural Utilities Service:
Rural Water and Waste Disposal Loans	-28	-214	-34	11,857	11,672	11,643
Rural Electrification and Telecommunications Fund	474	2,236	1,194	48,284	50,045	50,519
Rural Telephone Bank	-1	-12	-14	92	81	80
Distance Learning and Telemedicine Program	-5	-49	-53	560	516	510
Rural Development Insurance Fund	......	......	......	1,065	1,065	1,065
Foreign Agricultural Service:
P.L. 480 Direct Loan Fund	-25	-82	-58	407	350	324
International Debt Reduction	......	-4	-7	-62	-66	-66
Department of Commerce:
National Oceanic and Atmospheric Administration:
Fisheries Finance	3	-10	-12	395	382	386
Department of Defense--Military Programs	-63	-115	-31	1,714	1,662	1,599
Department of Education:
Office of Postsecondary Education:
College Housing and Academic Facilities Loans	(**)	(**)	(**)	3	3	3
Historically Black College and University Capital Financing
Fund	2	23	58	1,320	1,341	1,343

Office of Student Financial Assistance:
Federal Direct Student Loans	2,946	18,988	21,762	1,177,207	1,193,249	1,196,195
Teach Grant Loans	3	20	9	616	633	636
Temporary Student Loan Purchase Authority	-136	-3,399	-5,057	58,858	55,596	55,460
Department of Energy:
Advanced Technology Vehicles Manufacturing Loans	17	-298	-273	1,548	1,232	1,250
Title 17 Innovative Technology Loans	16	767	1,952	12,737	13,488	13,503
Department of Health and Human Services:
Consumer Operated and Oriented Plan	......	-9	-8	126	117	117
Consumer Operated and Oriented Plan Program Contingency Fund	......	(**)	-1	55	55	55
Department of Homeland Security:
Disaster Assistance Loan Fund	(**)	-7	-3	34	27	28

33

Table 6. Schedule E-Net Activity, Guaranteed and Direct Loan Financing, May 2020 and Other Periods - Continued

[$ millions]

Classification

	Net Transactions			Account Balances
(-) denotes net reduction of
				Current Fiscal Year
	asset accounts

This Month	Fiscal Year to Date		Beginning of			Close of
						This Month
	This Year	Prior Year	This Year		This Month

Direct Loan Financing Activity: - Continued
Department of Housing and Urban Development:
Housing Programs:
Emergency Homeowners' Relief Fund	(**)	(**)	-1	-1	-1	-1
FHA-Mutual Mortgage Insurance Loans	......	......	......	(**)	(**)	(**)
FHA-General and Special Risk Fund	12	333	188	2,077	2,398	2,410
Green Retrofit Program for Multifamily Housing Fund	(**)	-4	-3	8	4	4
Department of the Interior:
Bureau of Reclamation	......	-3	-3	30	27	27
Bureau of Indian Affairs and Bureau of Indian Education	......	(**)	-1	2	2	2
Assistance to American Samoa Loan Fund	-1	-1	-1	8	8	7
Department of State:
Administration of Foreign Affairs:
Repatriation Loans	1	-1	-1	1	(**)	(**)
Department of Transportation:
Federal Highway Administration:
Transportation Infrastructure Finance and Innovation Fund	77	-3,906	456	19,332	15,349	15,426
Tiger Tifia Loan Fund	......	-1	-1	58	58	58
Federal Railroad Administration:
Railroad Rehabilitation and Improvement Loan Fund	15	204	685	1,070	1,260	1,274
Maritime Administration:
Maritime Guaranteed Loan (Title XI) FFB Financing Account	-8	178	......	......	186	178
Department of the Treasury:
Departmental Offices:
Community Development Financial Institutions Fund	8	62	230	1,110	1,163	1,171
GSE Mortgage-Backed Securities Purchase Program	......	......	......	4,613	4,613	4,613
Temporary Credit and Liquidity Program	-97	-1,030	-351	3,644	2,712	2,615
Troubled Asset Relief Program	67	64	-1	-43	-46	21
Small Business Lending Program	-4	-8	-17	53	49	45
ESF - Economic Stabilization Program	52,770	52,770	......	......	......	52,770
Bureau of the Fiscal Service	......	......	......	(**)	(**)	(**)
Department of Veterans Affairs:
Veterans Benefits Administration:
Veterans Housing Benefit Program Fund	-1	20	-7	389	409	408
Native American Veteran Housing Fund	(**)	-2	-2	68	66	67
Transitional Housing Loans	(**)	(**)	(**)	(**)	(**)	(**)
Vocational Rehabilitation Loan Fund	(**)	(**)	(**)	(**)	(**)	(**)
Environmental Protection Agency:
Water Infrastructure Finance and Innovation Loan Program	(**)	164	(**)	(**)	164	164
International Assistance Programs:
International Security Assistance:
Foreign Military Loan Program	......	-405	437	2,432	2,028	2,028
Military Debt Reduction	......	......	......	36	36	36
Agency for International Development:
International Debt Reduction	......	-26	-55	-146	-172	-172
Overseas Private Investment Corporation	......	42	68	2,860	2,902	2,902
International Monetary Programs	......	......	......	-278	-278	-278
United States International Development Finance Corporation	56	-36	......	......	-91	-36
Small Business Administration:
Business Loan Fund	12	-8	-3	172	153	165
Disaster Loan Fund	25,767	30,429	363	8,252	12,914	38,681
Independent Agencies:
Export-Import Bank of the United States	-63	-2,117	-2,504	13,831	11,777	11,714
Federal Communications Commission:
Spectrum Auction Loan Fund	......	......	(**)	(**)	(**)	(**)
Net Activity, Direct Loan Financing	81,913	95,062	19,453	1,414,936	1,428,084	1,509,998

Note: Details may not add to totals due to rounding.

Note: Federal credit programs provide benefits to the public in the form of direct loans and loan guarantees. This table reflects cash transactions and balances of the nonbudgetary financing fund accounts that result from the disbursement of loans, collection of fees, repayment of principal, sale of collateral, interest, and subsidy received from the credit program accounts at

net present value in accordance with the Credit Reform Act of 1990. Unreimbursed costs such as administrative expenses and subsidy payments are reported on a cash basis and included within each program's budgetary totals in Table 5. ... No Transactions

(**) Less than absolute value of $500,000

34

Table 7. Receipts and Outlays of the U.S. Government by Month, Fiscal Year 2020

[$ millions]

													Fiscal	Com-
Classification	Oct.	Nov.	Dec.	Jan.	Feb.	March	April	May	June	July	Aug.	Sept.		parable
													Year to	Period
													Date	Prior F.Y.

Receipts:
Individual Income Taxes	126,389	105,764	152,706	216,660	69,626	98,316	75,257	47,760					892,477	1,160,328
Corporation Income Taxes	6,571	532	58,311	10,492	-2,041	10,390	3,940	-1,795					86,399	113,086
Social Insurance and Retirement Receipts:
Employment and General Retirement	86,671	93,654	102,399	117,604	97,239	107,165	129,982	99,529					834,243	792,875
Unemployment Insurance	2,757	2,596	248	3,019	2,279	296	9,063	11,720					31,979	33,009
Other Retirement	389	486	449	422	400	405	402	505					3,458	3,158
Excise Taxes	6,037	7,513	7,017	6,308	6,685	6,415	353	2,701					43,028	64,085
Estate and Gift Taxes	1,691	1,239	1,698	2,361	1,584	1,217	13	736					10,538	11,348
Customs Duties	7,757	6,940	6,449	6,918	6,286	4,815	4,114	3,833					47,112	44,866
Miscellaneous Receipts	7,260	6,461	6,529	8,506	5,892	7,749	18,739	8,871					70,007	52,149
Total--Receipts This Year	245,521	225,185	335,805	372,288	187,951	236,766	241,863	173,861					2,019,240	......
(On-Budget)
	181,095	155,648	259,671	281,546	112,136	153,068	142,052	96,428					1,381,643	......
(Off-Budget)	64,426	69,537	76,135	90,742	75,815	83,698	99,811	77,433					637,597	......
Total--Receipts Prior Year
	252,692	205,961	312,584	339,980	167,265	228,811	535,545	232,064					......	2,274,902
(On-Budget)	190,915	139,336	242,999	253,837	95,390	149,414	439,736	158,229					......	1,669,857
(Off-Budget)
	61,777	66,625	69,585	86,143	71,875	79,397	95,809	73,835					......	605,046
Outlays:
Legislative Branch	504	303	586	460	385	455	384	443					3,521	3,254
Judicial Branch	713	776	677	689	631	701	668	776					5,632	5,374
Department of Agriculture:
Commodity Credit Corporation	5,774	6,662	3,145	845	3,172	-75	-667	-290					18,566	17,840
Foreign Agricultural Service	297	147	154	170	221	125	111	269					1,496	1,291
Other	13,022	11,759	11,763	10,210	10,079	11,179	10,860	12,532					91,404	86,051
Department of Commerce	963	2,359	1,291	1,012	993	1,200	1,478	1,202					10,498	7,753
Department of Defense--Military Programs:
Military Personnel	28,921	14,024	12,271	11,838	12,061	7,429	11,872	11,961					110,376	111,684
Operation and Maintenance	21,805	21,315	23,294	23,443	21,683	25,018	23,262	23,204					183,023	177,009
International Reconstruction and Other
Assistance	......	......	......	......	2	2	-3	......					(**)	6

Procurement	8,404	14,858	13,029	8,838	10,928	14,186	11,077	13,079					94,400	80,383
Research, Development, Test, and Evaluation	7,690	7,430	9,703	5,952	6,659	10,789	7,957	8,659					64,837	60,877
Military Construction	862	583	668	521	611	864	876	601					5,585	5,203
Family Housing	84	67	97	79	97	89	119	151					782	707
Revolving and Management Funds	258	1,241	981	-92	551	-317	394	921					3,936	3,819
Other	209	556	-1,000	-224	30	-204	-273	-122					-1,027	-391
Total Department of Defense--Military Programs	68,233	60,073	59,042	50,354	52,622	57,855	55,280	58,453					461,912	439,296
Department of Education
	8,094	4,772	4,785	9,839	9,295	6,366	5,806	8,929					57,886	52,323
Department of Energy	3,109	2,639	2,226	2,830	2,348	2,876	2,662	2,690					21,379	18,753
Department of Health and Human Services:
National Institutes of Health	3,179	3,110	3,002	2,932	3,059	3,240	2,886	2,845					24,254	23,486
Centers for Medicare and Medicaid Services:
Grants to States for Medicaid	34,777	33,243	32,932	34,760	37,235	34,664	45,304	39,862					292,776	268,533
Federal Hospital Insurance Trust Fund	27,210	35,953	18,135	39,218	27,307	19,671	118,020	-2,190					283,326	228,575
Federal Supplementary Medical Insurance
Trust Fund	38,895	57,493	19,585	59,190	35,558	19,186	45,113	63,171					338,191	317,673
Other	34,196	30,045	30,051	38,169	31,681	30,456	35,625	31,904					262,127	256,954
Administration for Children and Families	4,848	5,527	4,594	4,908	4,637	5,255	5,297	4,688					39,753	36,990
Other	-37,714 -33,291 -36,428 -44,759				-37,500	-38,945	-2,237	-11,572					-242,447	-297,865
Department of Homeland Security	4,884	5,053	5,450	4,563	4,299	4,776	5,487	6,031					40,543	38,650
Department of Housing and Urban Development	3,836	3,798	4,056	3,667	3,753	4,452	4,093	4,797					32,452	13,335
Department of the Interior	1,251	900	1,467	1,255	856	1,495	2,120	1,162					10,506	8,620
Department of Justice	3,135	2,778	3,024	3,671	364	3,534	5,645	2,817					24,968	23,163
Department of Labor:
Unemployment Trust Fund	2,285	2,079	2,941	3,407	3,090	4,659	21,550	29,561					69,572	22,081
Other	-5,653	1,278	2,206	1,475	265	990	27,970	64,308					92,840	1,561
Department of State	2,251	3,377	2,733	2,411	2,213	2,760	2,858	1,658					20,262	19,055
Department of Transportation:
Highway Trust Fund	4,742	3,683	3,153	2,528	2,998	3,345	2,900	3,759					27,109	25,065
Other	2,728	2,810	3,380	2,915	4,007	2,927	4,581	6,080					29,428	21,390
Department of the Treasury:
Interest on Treasury Debt Securities (Gross)	30,319	35,643	94,225	33,903	34,891	40,471	41,004	26,503					336,959	354,068

35

Table 7. Receipts and Outlays of the U.S. Government by Month, Fiscal Year 2020 - Continued

[$ millions]

													Fiscal	Com-
Classification	Oct.	Nov.	Dec.	Jan.	Feb.	March	April	May	June	July	Aug.	Sept.		parable
													Year to	Period
													Date	Prior F.Y.


Outlays: - Continued
Other	8,903	6,937	9,272	6,375	60,060	22,626	392,098	71,967					578,237	122,950
Department of Veterans Affairs:
Compensation and Pensions	8,604	16,622	8,841	8,955	9,627	1,006	9,287	9,497					72,439	73,729
National Service Life	54	49	37	63	43	58	55	51					411	460
Other	8,937	10,481	8,136	8,964	8,128	6,230	9,276	9,943					70,095	66,739
Corps of Engineers	710	684	785	731	663	795	1,089	326					5,782	4,272
Other Defense Civil Programs	5,354	10,121	5,360	6,191	5,026	515	5,014	5,875					43,456	45,238
Environmental Protection Agency	831	829	777	826	707	690	638	753					6,051	5,621
Executive Office of the President	33	33	33	32	32	33	31	44					271	272
General Services Administration	46	-54	-17	-27	400	-3	-128	-226					-8	-514
International Assistance Programs:
International Security Assistance	513	2,093	1,100	3,526	426	505	493	590					9,245	9,125
Multilateral Assistance	(**)	1	235	46	3	1,489	242	29					2,044	537
Agency for International Development	1,095	816	626	457	728	730	710	1,165					6,327	5,021
Other	-176	-564	-2,667	-1,540	285	2,649	1,054	-579					-1,538	1,794
National Aeronautics and Space Administration	1,715	1,793	2,346	1,318	1,489	1,864	1,625	1,862					14,012	13,132
National Science Foundation	679	595	549	578	535	538	522	541					4,537	4,466
Office of Personnel Management	9,587	8,470	8,102	9,445	9,062	8,988	9,286	7,815					70,754	68,613
Small Business Administration	81	81	104	85	102	-1,056	15,367	10,844					25,608	90
Social Security Administration:
Federal Old-Age and Survivors Insurance Trust
Fund (Off-Budget)	76,709	76,640	76,503	78,344	78,476	79,020	79,245	79,282					624,218	588,781

Federal Disability Insurance Trust Fund
(Off-Budget)	12,285	12,259	11,774	12,402	12,262	12,540	12,520	12,512					98,555	98,425
Other	4,688	9,303	4,896	4,820	4,896	309	4,816	5,336					39,065	42,794
Independent Agencies:
Deposit Insurance Fund	367	124	-989	266	-631	-1,312	528	-160					-1,808	-5,161
FSLIC Resolution Fund	-2	-1	-2	-1	-1	(**)	(**)	(**)					-8	-13
Postal Service:
Off-Budget:
Public Enterprise Funds	545	788	-690	-696	-91	-459	-887	897					-594	-483
Other	38	20	1	208	......	......	......	......					267	265
Other	......	......	......	57	......	......	......	......					57	55
Tennessee Valley Authority	-188	-95	36	-180	-302	428	-85	-731					-1,117	-768
Other	2,399	2,532	2,658	2,105	3,428	4,115	5,600	1,525					24,363	23,736
Undistributed Offsetting Receipts:
Employer Share, Employee Retirement	-22,480 -7,025 -7,112			-6,895	-6,741	-6,760	-6,810	-7,449					-71,271	-65,303
Interest Received by Trust Funds	3,223	-2,183	-59,103	-1,716	-3,729	-2,767	-6,312	535					-72,053	-77,863
Rents and Royalties on the Outer Continental
Shelf Lands	-441	-295	-672	-480	-115	-631	-188	48					-2,774	-4,580

Other	(**)	(**)	(**)	(**)	(**)	(**)	(**)	(**)					-1	-1,156
Totals This Year:

Total Outlays	379,988	434,024	349,091	404,883	423,229	355,754	979,885	572,682					3,899,536	......
(On-Budget)
	300,962	345,901	302,065	326,440	334,290	266,410	900,847	481,710					3,258,625	......
(Off-Budget)	79,026	88,122	47,026	78,443	88,939	89,344	79,038	90,972					640,912	......
Total-Surplus (+) or Deficit (-)
	-134,467	-208,838	-13,286	-32,595	-235,278	-118,988	-738,022	-398,821					-1,880,296	......
(On-Budget)	-119,867	-190,253	-42,394	-44,894	-222,155	-113,342	-758,795	-385,282					-1,876,981	......
(Off-Budget)
	-14,600	-18,585	29,108	12,299	-13,124	-5,646	20,773	-13,539					-3,315	......
Total Borrowing from the Public	159,836	125,462	65,767	41,898	200,119	267,964	1,386,5	759,988					3,007,563	440,717
							28
Total-Outlays Prior Year
	353,183	410,864	326,123	331,299	401,243	375,756	375,240	439,833					......	3,013,541
(On-Budget)	279,122	328,697	284,536	256,096	316,103	290,478	299,230	352,744					......	2,407,006
(Off-Budget)
	74,061	82,166	41,588	75,203	85,140	85,278	76,011	87,089					......	606,535
Total-Surplus (+) or Deficit (-) Prior Year	-100,491	-204,903	-13,539	8,681	-233,977	-146,945	160,304	-207,768					......	-738,638
(On-Budget)
	-88,207	-189,361	-41,537	-2,259	-220,713	-141,064	140,506	-194,514					......	-737,149
(Off-Budget)	-12,284	-15,541	27,997	10,940	-13,265	-5,881	19,798	-13,254					......	-1,489
Note: Details may not add to totals due to rounding.					(**) Less than absolute value of $500,000
... No Transactions

36

Table 8. Trust Fund Impact on Budget Results and Investment Holdings as of May 31, 2020

[$ millions]

Classification

	This Month		Fiscal Year to Date			Securities Held as Investments
						Current Fiscal Year


Receipts	Outlays	Excess	Receipts	Outlays	Excess	Beginning of		Close of
						This Year	This Month	This Month

Trust Receipts, Outlays, and Investments Held:
Airport and Airway	-540	2,487	-3,027	19,726	12,374	7,352	15,018	15,617	12,151
Black Lung Disability	8	17	-8	132	142	-10	......	......	......
Federal Disability Insurance	11,489	12,512	-1,023	97,196	98,555	-1,359	96,520	96,229	95,208
Federal Employees Life and Health	......	-1,228	1,228	......	-727	727	76,001	75,429	76,656
Federal Employees Retirement	4,299	7,632	-3,333	42,192	61,498	-19,306	960,338	944,365	941,038
Federal Hospital Insurance	23,028	-2,045	25,073	214,544	284,579	-70,034	......	......	......
Federal Old-Age and Survivors Insurance	67,663	79,282	-11,620	621,935	624,218	-2,283	2,804,396	2,813,811	2,802,004
Federal Supplementary Medical Insurance	41,168	63,171	-22,003	324,959	338,191	-13,233	104,716	83,543	92,743
Hazardous Substance Superfund	11	131	-120	1,301	1,019	281	5,251	5,629	5,525
Highways	676	4,469	-3,792	23,796	34,182	-10,386	28,192	23,106	18,823
Military Advances	4,115	3,582	534	27,018	24,929	2,089	......	......	......
Military Retirement	664	5,199	-4,534	126,146	41,411	84,735	827,414	926,168	921,637
Railroad Retirement	1,619	1,185	435	4,662	10,217	-5,555	2,606	2,153	1,885
Unemployment	24,958	29,580	-4,622	115,910	69,685	46,225	84,361	72,764	104,546
Veterans Life Insurance	2	67	-64	63	528	-465	3,815	3,418	3,356
All Other Trust	486	608	-122	4,945	4,055	889	237,286	167,944	167,973
Total Trust Fund Receipts and Outlays and Investments
Held from Table 6-D	179,647	206,646	-26,999	1,624,525	1,604,856	19,669	5,245,914	5,230,177	5,243,545
Less: Interfund Transactions	67,568	67,568	......	718,949	718,949	......	......	......	......
Trust Fund Receipts and Outlays on the Basis of
Tables 4 & 5	112,079	139,078	-26,999	905,576	885,907	19,669
Total Federal Fund Receipts and Outlays
	61,863	433,685	-371,822	1,114,135	3,014,100	-1,899,966
Less: Interfund Transactions	81	81	......	471	471	......
Federal Fund Receipts and Outlays on the Basis of
Table 4 & 5	61,781	433,604	-371,822	1,113,664	3,013,630	-1,899,966
Net Budget Receipts & Outlays	173,861	572,682	-398,821	2,019,240	3,899,536	-1,880,296

Note: Details may not add to totals due to rounding.

Note: Interfund receipts and outlays are transactions between Federal funds and trust funds such as Federal payments and contributions, and interest and profits on investments in Federal securities. They have no net effect on overall budget

receipts and outlays since the receipt side of such transactions is offset against budget outlays. In this table, Interfund receipts are shown as an adjustment to arrive at total receipts and outlays of trust funds respectively. ... No Transactions

37

Table 9. Summary of Receipts by Source, and Outlays by Function of the U.S. Government, May 2020 and Other Periods

[$ millions]

Classification	This Month	Fiscal Year	Comparable Period
		to Date	Prior Fiscal Year

Receipts
Individual Income Taxes	47,760	892,477	1,160,328
Corporation Income Taxes	-1,795	86,399	113,086
Social Insurance and Retirement Receipts:
Employment and General Retirement	99,529	834,243	792,875
Unemployment Insurance	11,720	31,979	33,009
Other Retirement	505	3,458	3,158
Excise Taxes	2,701	43,028	64,085
Estate and Gift Taxes	736	10,538	11,348
Customs Duties	3,833	47,112	44,866
Miscellaneous Receipts	8,871	70,007	52,149
Total	173,861	2,019,240	2,274,902
Net Outlays

National Defense	61,084	485,402	461,515
International Affairs	4,488	48,894	36,407
General Science, Space, and Technology	2,820	22,036	20,872
Energy	36	3,869	1,289
Natural Resources and Environment	2,932	27,327	23,316
Agriculture	599	31,627	31,111
Commerce and Housing Credit	10,790	33,654	-23,803
Transportation	16,191	84,995	57,101
Community and Regional Development	8,309	25,687	20,687
Education, Training, Employment, and Social Services	10,867	79,972	73,683
Health	79,121	479,307	383,590
Medicare	49,955	531,981	462,606
Income Security	184,438	785,540	384,499
Social Security	92,022	722,888	687,098
Veterans Benefits and Services	19,501	143,115	141,219
Administration of Justice	5,182	46,717	43,234
General Government	5,941	159,352	11,327
Net Interest	25,809	261,219	268,829
Undistributed Offsetting Receipts	-7,401	-74,045	-71,038
Total	572,682	3,899,536	3,013,541

Note: Details may not add to totals due to rounding.

38

Explanatory Notes

1. Flow of Data into Monthly Treasury Statement

The Monthly Treasury Statement (MTS) is assembled from data in the central accounting system. The major sources of data include monthly accounting reports by Federal entities and disbursing officers, and daily reports from the Federal Reserve banks. These reports detail accounting transactions affecting receipts and outlays of the Federal Government and off-budget Federal entities, and their related effect on the assets and liabilities of the U.S. Government. Information is presented in the MTS on a modified cash basis.

2. Notes on Receipts

Receipts included in the report are classified into the following major categories: (1) budget receipts and (2) offsetting collections (also called applicable receipts). Budget receipts are collections from the public that result from the exercise of the Government's sovereign or governmental powers, excluding receipts offset against outlays. These collections, also called governmental receipts, consist mainly of tax receipts (including social insurance taxes), receipts from court fines, certain licenses, and deposits of earnings by the Federal Reserve System. Refunds of receipts are treated as deductions from gross receipts.

Offsetting collections are from other Government accounts or the public that are of a business-type or market-oriented nature. They are classified into two major categories: (1) offsetting collections credited to appropriations or fund accounts, and (2) offsetting receipts (i.e., amounts deposited in receipt accounts). Collections credited to appropriation or fund accounts normally can be used without appropriation action by Congress. These occur in two instances: (1) when authorized by law, amounts collected for materials or services are treated as reimbursements to appropriations and (2) in the three types of revolving funds (public enterprise, intra governmental, and trust); collections are netted against spending, and outlays are reported as the net amount.

Offsetting receipts in receipt accounts cannot be used without being appropriated. They are subdivided into two categories: (1) proprietary receipts - these collections are from the public and they are offset against outlays by agency and by function, and (2) intra governmental funds -

these are payments into receipt accounts from Governmental appropriation or fund accounts. The transactions may be intrabudgetary when the payment and receipt both occur within the budget or from receipts from off-budget Federal entities in those cases where payment is made by a Federal entity whose budget authority and outlays are excluded from the budget totals.

Intrabudgetary transactions are subdivided into three categories: (1) interfund transactions, where the payments are from one fund group (either Federal funds or trust funds) to a receipt account in the other fund group; (2) Federal intrafund transactions, where the payments and receipts both occur within the Federal fund group; and (3) trust intrafund transactions, where the payments and receipts both occur within the trust fund group.

Offsetting receipts are generally deducted from budget authority and outlays by function, by subfunction, or by agency. There are four types of receipts, however, that are deducted from budget totals as undistributed offsetting receipts. They are: (1) agencies' payments (including payments by off- budget Federal entities) as employers into employees retirement funds, (2) interest received by trust funds, (3) rents and royalties on the Outer Continental Shelf lands, and (4) other interest (i.e., interest collected on Outer Continental Shelf money in deposit funds when such money is transferred into the budget).

3. Notes on Outlays

Outlays are generally accounted for on the basis of checks issued, electronic funds transferred, or cash payments made. Certain outlays do not require issuance of cash or checks. An example is charges made against appropriations for that part of employees' salaries withheld for taxes or savings bond allotments - these are counted as payments to the employee and credits for whatever purpose the money was withheld. Outlays are stated net of offsetting collections (including receipts of revolving and management funds) and of refunds. Interest on the public debt (public issues) is recognized on the accrual basis. Federal credit programs subject to the Federal Credit Reform Act of 1990 use the cash

basis of accounting and are divided into two components. The portion of the credit activities that involve a cost to the Government (mainly subsidies) is included within the budget program accounts. The remaining portion of the credit activities are in non-budget financing accounts. Outlays of off-budget Federal entities are excluded by law from budget totals. However, they are shown separately and combined with the on-budget outlays to display total Federal outlays.

4. Processing

The data on payments and collections are reported by account symbol into the central accounting system. In turn, the data are extracted from this system for use in the preparation of the MTS.

There are two major checks which are conducted to assure consistency of the data reported:

1. Verification of payment data. The monthly payment activity reported by Federal entities on the Statements of Transactions is compared to the payment activity of Federal entities as reported by disbursing officers.

2. Verification of collection data. Reported collections appearing on Statements of Transactions are compared to deposits as reported by Federal Reserve Banks.

5. Other Sources of Information About Federal Government Financial Activities

x A Glossary of Terms Used in the Federal Budget Process, 2005 (Available from the U.S. Government Accountability Office, at calling 202-512-6000. This glossary provides a basic reference document of standardized definitions of terms used by the Federal Government in the budget making process).

Daily Treasury Statement (Available on the internet at http://www.fms.treas.gov/dts/). The Daily Treasury Statement is published each working day of the Federal Government and provides data on the cash and debt operations of the Treasury.

Monthly Statement of the Public Debt of the United States (Available on the internet at http://www.treasurydirect.gov/govt/reports/pd/ mspd/mspd.htm). This publication provides detailed information concerning the public debt.

Treasury Bulletin (Available from GPO, Washington, D.C. 20401 on a subscription or single copy and on the internet at http://www.fiscal.treasury.gov/fsreports/rpt/treasBulletin/treasBulle tin_home.htm). Quarterly, contains a mix of narrative, tables, and charts on Treasury issues, Federal financial operations, international statistics, and special reports.

Budget of the United States Government, Fiscal Year 20__ (Available from GPO, Washington, D.C. 20401 on a subscription basis only and on the internet at http://www.access.gpo.gov/usbudget). This publication is a single volume which provides budget information and contains:

Appendix, The Budget of the United States Government, FY 20
The United States Budget in Brief, FY 20
Analytical Perspectives
Historical Tables

Combined Statement of Receipts, Outlays, and Balances of the United States Government (Available from Bureau of the Fiscal Service, U.S. Department of Treasury, Washington, D.C. 20227 and on the internet at http://www.fiscal.treasury.gov/fsreports/rpt/ combStmt/combStmt_home.htm). This report includes budgetary results at the summary level and presents individual receipt and appropriation accounts at the detail level.

39

Scheduled Release

The release date for the June 2020 Statement

will be 2:00 p.m. EST July 13, 2020.

Internet service subscribers can access the current issue of the Monthly Treasury Statement through the

Bureau of the Fiscal Service’s website:

http://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mthTreasStmt_home.htm

MiscelaneousReceipts

CorporationIncomeTaxes

IndividualIncomeTaxes

ExciseTaxes

SocialInsuranceandRetirementReceipts