Organization and Functions
The Department of the Treasury is organized into two major components: the Departmental Offices and the operating bureaus. The Departmental Offices are primarily responsible for the formulation of policy and management of the Department as a whole, while the operating bureaus carry out the specific operations assigned to the Department. The basic functions of the Department of the Treasury include:
- Economic, international economic, and fiscal policy
- Government accounting, cash, and debt management
- Promulgation and enforcement of tax and tariff laws
- Assessment and collection of internal revenue
- Production of coin and currency
- Supervision of national banks and thrifts
The Departmental Offices are composed of divisions headed by Assistant Secretaries, a General Counsel, or Inspectors General who report to the Secretary through the Deputy Secretary, the Under Secretary for International Affairs, the Under Secretary for Domestic Finance, or the Under Secretary for the Office of Terrorism and Financial Intelligence. Most of these divisions are located within the Main Treasury Building in Washington, D.C. The bureaus make up 98% of the Treasury work force, which totals approximately 125,000 people.
A Treasury seal, circa 1800, depicts a watchdog guarding the key to a strongbox. According to legend, the dog is Nero, the first watchdog of the U.S. Mint in 1793. The key and scales are also incorporated in the official Treasury seal. (Department of the Treasury)