U.S.

DEPARTMENT OF THE TREASURY | BUREAU OF THE FISCAL SERVICE

Final n l a a n
Receipts and Outlays of the United States Government
For Fiscal Year 2023 Through e te er 30, 2023 and Other Periods
 Highlight

This issue includes the final budget results and details a deficit of $1.695 trillion for Fiscal Year 2023, $320 billion
(23%) higher compared to last year.

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 September, because
October 1, 2023, the normal payment date, fell on a non-business day.

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

Receipts...................................................................................................................................................................... Page

Outlays........................................................................................................................................................................ Page
Means of Financing.................................................................................................................................................... Page 25
Receipts/Outlays by Month......................................................................................................................................... Page 35
Federal Trust Funds/ Securities.................................................................................................................................. Page 3
Receipts by Source/Outlays by Function.................................................................................................................... Page 3
Explanatory Notes....................................................................................................................................................... Page 3

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.
Figure 1. eceipts, Outlays, and Surplus eficit for September 2 3

eceipts by Source Outlays by unction

6 63

11

Individual Income Taxes 221 Billion

116 Social

Social Insurance & Retirement 130 Billion

5 Income Security
Corporation Income Taxes 95 Billion
$ 6 illion ommerce
Billion
Excise Taxes
$ 3 illion eterans enefits Services
Billion
ustoms uties 1 1
29 Billion et Interest
5 Billion
Miscellaneous $2 illion ducation

2 Billion $ 1 Billion Other

state and ift Ta es

Figure 2. umulative eceipts, Outlays, and Surplus eficit through iscal ear 20 3

eceipts by Source Outlays by unction

, 39 6,13
1,35 Social
Individual Income Taxes 2,1 6 Billion

Social Insurance & Retirement 1,61 Billion

21 ational efense

Corporation Income Taxes 20 Billion

Billion
0 Billion
ustoms uties
$659 illion et Interest
1,695
6 Billion 302 Billion eterans enefits Services
Excise Taxes
$12 illion
Transportation
39 Billion $100 illion
Miscellaneous ommerce

3 Billion $260 illion Other

state and ift Ta es

Source data: Table 9

5
 Figure 3. Monthly Receipts, Outlays, and Budget Deficit/Surplus of the U.S. Government, Fiscal Years
2022 and 2023
2022 2023
$1,000B
$600B
$200B
($200B)
($600B)
($1,000B)

$200B
$0B
($200B)
($400B)
($600B)
Nov

Jan

Jun
Jul
Aug
Sep

Nov
Oct

Dec

Feb

May

Oct

Dec
Jan
Feb

May
Jun
Jul
Aug
Sep
Mar
Apr

Mar
Apr
Receipts Outlays Deficit(-)/Surplus

Figure 4. Monthly Receipts, Outlays, and Budget Deficit/Surplus of the U.S. Government, Cumulative,
Fiscal Years 2022 and 2023

2022 2023
$5,000B
$4,000B
$3,000B
$2,000B
$1,000B
$0B
($1,000B)
($3,000B)

($5,000B)
($7,000B)
$0B

($1,000B)
Nov

Jan

Jun
Jul
Aug
Sep

Nov
Oct

Dec

Feb

May

Oct

Dec
Jan
Feb

May
Jun
Jul
Aug
Sep
Mar
Apr

Mar
Apr

Receipts Outlays Deficit(-)/Surplus

Source data: Table

 Figure 5. Receipts of the U.S. Government, by Source, Fiscal Year 2023

Month of September 2023: $467B Fiscal Year 2023 to Date: $4,439B

$5B $9B $114B

$7B $39B $76B
$420B
$130B $1,614B
$95B

$221B $2,176B

Miscellaneous Receipts Excise Taxes Individual Income Taxes

Other Corporation Income Taxes Social Insurance and Retirement Receipts

Figure 6. Monthly Receipts of the U.S. Government, by Source, Fiscal Years 2022 and 2023

2022 2023
$900B
$800B

$700B

$600B
Receipt Amount

$500B

$400B

$300B

$200B

$100B

$0B
Oct
Nov
Dec
Jan
Feb

May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb

May
Jun
Jul
Aug
Sep
Mar
Apr

Mar
Apr

Miscellaneous Receipts Excise Taxes Individual Income Taxes

Other Corporation Income Taxes Social Insurance and Retirement Receipts

"Other" Includes: Customs Duties and Estate and Gift Taxes

*Disclaimer: Other category is subject to change due to negative balances held.
Note: Details may not add to totals due to rounding

Source data: Table 9

 Figure 7. Outlays of the U.S. Government, by Source, Fiscal Year 2023

Month of September 2023: $638B Fiscal Year 2023 to Date: $6,134B

$789B
$156B $116B $1,354B

$659B

$29B
$118B

$848B
$821B

$85B
$58B $774B
$889B
Social Security
$77B Income Security National Defense Other
Medicare Health Net Interest

*Disclaimer: Other category is subject to change due to negative balances held.

Figure 8. Monthly Outlays of the U.S. Government, by Source, Fiscal Years 2022 and 2023
2022 2023
$1,000B
$900B
$800B
$700B
$600B
Outlay Amount

$500B
$400B
$300B
$200B
$100B
$0B
($100B)
($200B)
Oct

Jan
Feb
Nov

Dec

May
Jun
Jul
Aug
Sep

Oct

Jan
Feb
Nov
Dec

May
Jun
Jul
Aug
Sep
Mar
Apr

Mar

Apr

Social Security Income Security National Defense Other

Medicare Health Net Interest

"Other" Includes: Administration of Justice, Agriculture, Community and Regional Development, Education, Training, Employment, and
Social Services, Energy, General Government, General Science, Space, and Technology, International Affairs, Natural Resources and
Environment, Transportation, Undistributed Offsetting Receipts, Veterans' Benefits and Services.
Note: Details may not add to totals due to rounding

Source data: Table 9

0
11
2
3
8
1
0
1
2
3
nin ested alances, e osit Funds
28
F acting in its ca acity as ecei er 1

1 Reflects a Federal Financing Bank transaction with the FDIC, acting in its
capacity as receiver for the First Republic Bank, in exchange for cash flows from
the Purchase Money Note issued to the FDIC Receivership by JP Morgan Chase
Bank, N.A
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

2
0
1
2
3
38