THE DEPARTMENT OF "REASURY Administering the Public Debt, U. S. Savings Bonds Division ANALYSIS OF AUTHORIZED LEVEL FOR FISCAL YEAR 1984 FY 1984 Appropriation (Continuing Resolution) enacted by Congress NOTE: The amounts in the U. S. Savings Bonds Division's justifications are included in the submission Administering the Public Debt, Bureau of the Public Debt. 1/ $275,000 to be derived from the Bureau of the Public Debt. February 1, 1984 Administering the Public Debt, U. S. Savings Bonds Division SUMMARY EXPLANATION OF CHANGES REQUESTED FOR FISCAL YEAR (Pollars in thousands) Other Changes: Increases necessary to maintain current levels: 1985 1. Net cost of within grade salary increases required by statute..... Increased ADP and equipment leasing costs Payment to Employees Compensation Fund 14 1 11 16 12 1 4. Increased cost of FTS and other communications. 3 88 77 11 218 5. Increased Printing costs 36 97 85 6. Support services and facilities 9 7. Increased health benefits and life insurance costs 8 Increased costs of OASDI and HI authorized for 175 14 139 วา FY 1985 9. Annualization of Pay increase authorized for 13 FY 1984 37 10. Increased personnel costs for the additional 9 12 workday in FY 1985 10 11. Increased freight costs 479 128 761 154 Administering the Public Debt, U. S. Savings Bonds Division SUMMARY EXPLANATION OF CHANGES REQUESTED FOR FISCAL YEAR (Dollars in thousands) 1985 Total, Increases or Decreases 1985 compared with 1984 appropriation and proposed Authorized Level 123 -1 -1 209 121 -1 -1 453 February 1, 1984 3. Administering the Public Debt, U. S. Savings Bonds Division SUMMARY JUSTIFICATION OF FY 1985 BUDGET ESTIMATES General Statement can be an rapidly growing S. Savings Bonds Division a made by the Savings Bonds Division to on February 1, 1984 The Payroll Savings Plan continued to be the primary source of sales in fiscal 1983 accounting for nearly two-thirds of all savings bonds dollar sales. the pri 1983 As of September 30, 1983, savings bonds accounted for seven percent of vately-held portion of the public debt. Sales of EE and HH bonds for fiscal a mounted to $4.0 billion. The amount outstanding at the end of fiscal 1983 was $70.6 billion. of Direct obligations for fiscal year 1985 are estimated to be $17,543,000, an increase $453,000 over the authorized level for fiscal year 1984. The requirements consist of $761,000 for increases to maintain current decreases of $308,000. increased funding levels, offset by the In FY 1985, the Division will continue to emphasize the Payroll Savings Plan as most effective device for promoting the new market based rate bonds. Promotional campaigns will be conducted involving strong top management support augmented by canvasser training sessions and person-to-person solicitation of employees. to The U. S. Savings Bonds Volunteer Committee will continue to play a major role in helping the Division to achieve its sales goals. Under the leadership of its Chairman, the committee organized annual campaigns in over twenty of the largest metro-centers enroll employees as new savers, or as current savers who increase their allotments. The National Labor Committee, which traditionally has been under the chairmanship of the President of the AFL-CIO, will continue organized labor in its efforts in maintaining the support of all the promotion of the Payroll Savings Plan and in individual Savings Bond campaigns at all levels. The Division's advertising program will continue to place special emphasis on achieving greater public awareness of the features and benefits of savings bonds and to create and maintain a receptive atmosphere among bond-buyers, potential bond-buyers, and the business, banking and labor communities. Through the combined efforts of volunteers, the Advertising Council and the Division's professional sales force, the Savings Bond Program received over $80 million in donated advertising space and time in fiscal 1983. February 1, 1984 5. |