Monthly Treasury Statement - Bureau of the Fiscal Service
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 2023 Through June 30, 2023, and Other Periods
Highlight
The gross interest on Treasury debt securities, which includes the semi-annual interest payment to trust funds
investing in special issue par value government securities, is $122 billion. Net interest, which includes interest
paid to holders of the debt that Treasury issues to the public, totals $70 billion.
Outlays for military active duty and retirement, veterans benefits, Supplemental Security Income, and
Medicare payments to health maintenance organizations and prescription drug plans accelerated into June,
because July 1, 2023, the normal payment date, fell on a non-business day.
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 June 2023
Outlays by Function:
Receipts by Source:
Total Outlays
$646 Billion
Total Receipts
$418 Billion
Social Insurance & Retirement
Individual Income Taxes
Corporation Income Taxes
Excise Taxes
Customs Duties
Estate and Gift Taxes
Miscellaneous
$137 Billion
Medicare
$121 Billion
Social Security
$79 Billion
National Defense
$78 Billion
Health
$70 Billion
Net Interest
$63 Billion
Income Security
$181 Billion
$149 Billion
$72 Billion
$8 Billion
$6 Billion
Deficit
$228 Billion
$2 Billion
$37 Billion
Veterans' Benefits & Services
$29 Billion
Education
$12 Billion
$1 Billion
$20 Billion
Transportation
Other
Figure 2. Cumulative Receipts, Outlays, and Surplus/Deficit through Fiscal Year 2023
Outlays by Function:
Receipts by Source:
Total Receipts
$3,413 Billion
Individual Income Taxes
Total Outlays
$4,805 Billion
$1,007 Billion
$1,694 Billion
Social Insurance & Retirement $1,244 Billion
Social Security
$673 Billion
Health
$636 Billion
Medicare
$623 Billion
Income Security
$610 Billion
National Defense
$494 Billion
Net Interest
Corporation Income Taxes $306 Billion
Customs Duties
Excise Taxes
Estate and Gift Taxes
Miscellaneous
$60 Billion
$59 Billion
Deficit
$1,393 Billion
$220 Billion Veterans' Benefits & Services
$201 Billion
Education
$89 Billion
Transportation
$28 Billion
$22 Billion
$253 Billion Other
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Table 1. Summary of Receipts, Outlays, and the Deficit/Surplus of the U.S. Government, Fiscal Years 2022 and 2023, by Month
[$ millions]
Period
Receipts
Outlays
Deficit/Surplus (-)
FY 2022
October
November
December
January
February
March
April
May
June
July
August
September
Year-to-Date
283,927
281,208
486,723
465,074
289,857
315,165
863,644
388,988
460,757
269,331
303,722
487,723
4,896,119
448,983
472,543
508,026
346,375
506,447
507,799
555,429
455,211
549,598
480,383
523,318
917,489
6,271,600
165,055
191,335
21,303
-118,699
216,590
192,634
-308,215
66,223
88,842
211,052
219,596
429,766
1,375,481
FY 2023
October
November
December
January
February
March
April
May
June
Year-to-Date
318,500
252,111
454,942
447,288
262,114
313,240
638,520
307,487
418,317
3,412,520
406,374
500,646
539,943
486,072
524,548
691,317
462,340
547,835
646,085
4,805,160
87,874
248,535
85,001
38,784
262,434
378,076
-176,181
240,348
227,768
1,392,640
Note: Details may not add to totals due to rounding.
Table 2. Summary of Budget and Off-Budget Results and Financing of the U.S. Government, June 2023 and Other Periods
[$ millions]
Classification
Total On-Budget and Off-Budget Results:
Total Receipts
On-Budget Receipts
Off-Budget Receipts
Total Outlays
On-Budget Outlays
Off-Budget Outlays
Total Surplus (+) or Deficit (-)
On-Budget Surplus (+) or Deficit (-)
Off-Budget Surplus (+) or Deficit (-)
Total On-Budget and Off-Budget Financing
Means of Financing:
Borrowing from the Public
Reduction of Operating Cash, Increase (-)
By Other Means
Current
Fiscal Year
to Date
This
Month
Budget
Estimates Full
Fiscal Year 1
Comparable
Prior Period
Year to Date
(2022)
Budget
Estimates
Next Fiscal
Year (2024) 1
418,317
273,669
144,648
3,412,520
2,493,417
919,103
4,802,483
3,604,388
1,198,095
3,835,344
3,029,091
806,252
5,036,384
3,828,230
1,208,154
646,085
558,489
87,596
4,805,160
3,913,721
891,439
6,371,827
5,159,771
1,212,056
4,350,411
3,559,893
790,518
6,882,738
5,567,203
1,315,535
-227,768
-284,820
+57,052
-1,392,640
-1,420,303
+27,664
-1,569,344
-1,555,383
-13,961
-515,067
-530,802
+15,735
-1,846,354
-1,738,973
-107,381
227,768
1,392,640
1,569,344
515,067
1,846,354
823,325
-353,883
-241,674
1,126,303
233,599
32,737
1,657,481
-14,006
-74,130
1,602,517
-567,246
-520,204
1,872,830
......
-26,476
1 These estimates are based on the FY 2024 Budget, released by the Office of
Management and Budget on March 9, 2023.
Note: Details may not add to totals due to rounding.
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