Departmental Offices

The Secretary of the Treasury serves as a major policy advisor to the President, has primary responsibility for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. The Secretary oversees the activities of the Department which serves as the financial agent for the U.S. Government, carries out certain law enforcement responsibilities, and manufactures coins and currency. He also serves as the chief financial officer of the government.

The Secretary is a member of the President's National Economic Council. He is the Chairman and Managing Trustee of the Social Security and Medicare Boards of Trustees. He also serves as U.S. Governor of the International Monetary Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank, the European Bank for Reconstruction and Development, and the North American Development Bank.

The Deputy Secretary, established by the Act of May 18, 1972, advises and assists the Secretary in the supervision and direction of the Department and its activities, and acts temporarily for the Secretary in his absence, sickness, or unavailability. The Deputy Secretary plays a primary role in the formulation and execution of Treasury policies and programs in all aspects of the Department's activities.

The Treasurer of the United States, the only Treasury office older than the Department itself, was established July 29, 1775. The Treasurer was originally charged with the receipt, custody, and disbursement of government funds, though many of these functions have been taken over by a bureau of the Department of the Treasury. The Treasurer's signature, along with that of the Secretary of the Treasury, is on all U.S. paper currency. The Treasurer also serves as one of the Treasury Department's principal advisors and spokespersons in the area of financial literacy and education.


Last Updated: 10/26/2010 11:36 AM