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Form N-CEN T. Rowe Price U.S. Treas For: May 31

August 8, 2022 2:47 PM EDT

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  X0404
  
    N-CEN
    
      LIVE
      
        
          0000853437
          XXXXXXXX
        
        811-05860
      
      
        false
        false
        false
      
      N-1A
    
    
      
        true
      
    
  
  
    
    
      T. ROWE PRICE U.S. TREASURY FUNDS, INC.
      811-05860
      0000853437
      549300B7392FYF2W3L63
      100 East Pratt Street
      Baltimore
      21202
      US-MD
      US
      410-345-2000
      
        
      
      
        
          State Street Corporation
          1776 Heritage Drive
          Quincy
          
          02171
          617-786-3000
          Custodian records for the Registrant.
        
        
          JPMorgan Chase Bank, London
          Woolgate House, Coleman Street
          London
          GB
          EC2P 2HD
          0 44 20 7742 4000
          Records related to the custody of Registrant's portfolio securities which are purchased outside the United States.
        
        
          The Bank of New York Mellon
          103 Bellevue Parkway
          Wilmington
          
          19809
          800-441-9800
          Fund accounting records.
        
        
          T. ROWE PRICE U.S. TREASURY FUNDS, INC.
          100 East Pratt Street
          Baltimore
          
          21202
          410-345-2000
          All accounts, books, and other documents required to be maintained by the Registrant under Section 31(a) of the Investment Company Act of 1940 and the rules thereunder.
        
        
          T. Rowe Price Services, Inc.
          100 East Pratt Street
          Baltimore
          
          21202
          410-345-2000
          Transfer, dividend disbursing, and shareholder service records.
        
      
      N
      N
      
      N-1A
      3
      Y
      
        
          Bruce W. Duncan
          N/A
          N
          
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
          
        
        
          Teresa Bryce Bazemore
          N/A
          N
          
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
          
        
        
          Paul F. McBride
          N/A
          N
          
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
          
        
        
          Kellye L. Walker
          N/A
          N
          
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
          
        
        
          Robert J. Gerrard, Jr.
          N/A
          N
          
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
          
        
        
          Eric L. Veiel
          003269676
          Y
          
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
          
        
        
          David Oestreicher
          004594569
          Y
          
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
          
        
      
      
        
          Armando Capasso
          007152939
          100 East Pratt Street
          Baltimore
          
          21202
          XXXXXX
          Y
          
            
          
        
      
      N
      N
      N
      N
      
      N
      N
      
        
          T. Rowe Price Investment Services, Inc.
          008-25130
          000008348
          N/A
          
          Y
        
      
      N
      
        
          PricewaterhouseCoopers LLP
          238
          5493002GVO7EO8RNNS37
          
        
      
      N
      N
      N
      N
      N
      N
      N
    
    
      
        T. Rowe Price U.S. Treasury Intermediate Index Fund
        S000002167
        PLLLPNEGTDFISEIK5Y26
        N
        3
        0
        0
        
          
          
          
        
        
          
            N
            N
            -0.41000000
            -0.65000000
            1.27000000
            1.27000000
          
        
        N
        N
        Y
        N
        
          
            State Street Bank and Trust Company
            571474TGEMMWANRLN572
            N
            
              
                
              
              N
            
          
        
        N/A
        N/A
        N/A
        
          Rule 12d1-4 (17 CFR 270.12d1-4)
          Rule 32a-4 (17 CFR 270.32a-4)
          Rule 12d1-1 (17 CFR 270.12d1-1)
        
        Y
        Y
        Y
        N
        
          
            T. Rowe Price Associates, Inc.
            801-00856
            000105496
            7HTL8AEQSEDX602FBU63
            
            N
          
        
        
          
            T. Rowe Price Retirement Plan Services, Inc.
            084-01917
            N/A
            
            Y
            Y
          
          
            T. Rowe Price Services, Inc.
            084-01079
            N/A
            
            Y
            N
          
        
        N
        
          
            Refinitiv US Holdings Inc.
            549300NF240HXJO7N016
            
            N
          
          
            ICE Data Services
            13-3668779
            Tax ID
            
            N
          
          
            Bloomberg Finance L.P.
            5493001KJTIIGC8Y1R12
            
            N
          
          
            Markit North America, Inc.
            N/A
            
            N
          
        
        N
        
          
            State Street Bank and Trust Company
            571474TGEMMWANRLN572
            
            N
            N
            Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
          
          
            JPMorgan Chase Bank, London
            7H6GLXDRUGQFU57RNE97
            GB
            N
            N
            Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
          
        
        N
        
          
            T. Rowe Price Retirement Plan Services, Inc.
            N/A
            
            Y
            Y
          
          
            T. Rowe Price Services, Inc.
            N/A
            
            Y
            N
          
        
        N
        
          
            T. Rowe Price Associates, Inc.
            7HTL8AEQSEDX602FBU63
            
            Y
            N
          
        
        N
        
          
            T. Rowe Price Investment Services, Inc.
            008-25130
            000008348
            N/A
            
            0.00000000
          
        
        
          
            Morgan Stanley
            N/A
            N/A
            IGJSJL3JD5P30I6NJZ34
            
            21996.00000000
          
          
            JP MORGAN CHASE & CO.
            N/A
            N/A
            8I5DZWZKVSZI1NUHU748
            
            24293.00000000
          
          
            Citigroup, Inc.
            N/A
            N/A
            6SHGI4ZSSLCXXQSBB395
            
            13356.00000000
          
          
            The Goldman Sachs Group, Inc.
            N/A
            N/A
            784F5XWPLTWKTBV3E584
            
            44990.00000000
          
        
        104634.00000000
        
          
            The Bank of Nova Scotia
            N/A
            N/A
            L3I9ZG2KFGXZ61BMYR72
            CA
            242858700.00000000
          
          
            Morgan Stanley
            N/A
            N/A
            IGJSJL3JD5P30I6NJZ34
            
            243855417.00000000
          
          
            UBS Group AG
            N/A
            N/A
            549300SZJ9VS8SGXAN81
            CH
            69603509.00000000
          
          
            JP MORGAN CHASE & CO.
            N/A
            N/A
            8I5DZWZKVSZI1NUHU748
            
            187309746.00000000
          
          
            Citigroup Inc.
            N/A
            N/A
            6SHGI4ZSSLCXXQSBB395
            
            98728080.00000000
          
          
            HSBC HOLDINGS PLC
            N/A
            N/A
            MLU0ZO3ML4LN2LL2TL39
            GB
            51117567.00000000
          
          
            Bank of America Corporation
            N/A
            N/A
            9DJT3UXIJIZJI4WXO774
            
            280379848.00000000
          
          
            The Goldman Sachs Group, Inc.
            N/A
            N/A
            784F5XWPLTWKTBV3E584
            
            167739663.00000000
          
          
            CREDIT AGRICOLE SA
            N/A
            N/A
            969500TJ5KRTCJQWXH05
            FR
            57415330.00000000
          
          
            Wells Fargo & Company
            N/A
            N/A
            PBLD0EJDB5FWOLXP3B76
            
            92928515.00000000
          
        
        1725674854.00000000
        N
        955406133.00000000
        0.00000000
        N
        N
        N
        N
      
      
        T. Rowe Price U.S. Treasury Long-Term Index Fund
        S000002168
        81MQEQSHGI5PN6BWN277
        N
        3
        0
        0
        
          
          
          
        
        
          
            N
            N
            -0.23000000
            -0.48000000
            1.37000000
            1.36000000
          
        
        N
        N
        Y
        N
        
          
            State Street Bank and Trust Company
            571474TGEMMWANRLN572
            N
            
              
                
              
              N
            
          
        
        N/A
        N/A
        N/A
        
          Rule 32a-4 (17 CFR 270.32a-4)
          Rule 12d1-1 (17 CFR 270.12d1-1)
          Rule 12d1-4 (17 CFR 270.12d1-4)
        
        Y
        Y
        Y
        N
        
          
            T. Rowe Price Associates, Inc.
            801-00856
            000105496
            7HTL8AEQSEDX602FBU63
            
            N
          
        
        
          
            T. Rowe Price Services, Inc.
            084-01079
            N/A
            
            Y
            N
          
          
            T. Rowe Price Retirement Plan Services, Inc.
            084-01917
            N/A
            
            Y
            Y
          
        
        N
        
          
            Bloomberg Finance L.P.
            5493001KJTIIGC8Y1R12
            
            N
          
          
            ICE Data Services
            13-3668779
            Tax ID
            
            N
          
          
            Refinitiv US Holdings Inc.
            549300NF240HXJO7N016
            
            N
          
          
            Markit North America, Inc.
            N/A
            
            N
          
        
        N
        
          
            State Street Bank and Trust Company
            571474TGEMMWANRLN572
            
            N
            N
            Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
          
          
            JPMorgan Chase Bank, London
            7H6GLXDRUGQFU57RNE97
            GB
            N
            N
            Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
          
        
        N
        
          
            T. Rowe Price Retirement Plan Services, Inc.
            N/A
            
            Y
            Y
          
          
            T. Rowe Price Services, Inc.
            N/A
            
            Y
            N
          
        
        N
        
          
            T. Rowe Price Associates, Inc.
            7HTL8AEQSEDX602FBU63
            
            Y
            N
          
        
        N
        
          
            T. Rowe Price Investment Services, Inc.
            008-25130
            000008348
            N/A
            
            0.00000000
          
        
        
          
            The Goldman Sachs Group, Inc.
            N/A
            N/A
            784F5XWPLTWKTBV3E584
            
            153297.00000000
          
          
            JP MORGAN CHASE & CO.
            N/A
            N/A
            8I5DZWZKVSZI1NUHU748
            
            97104.00000000
          
          
            Citigroup, Inc.
            N/A
            N/A
            6SHGI4ZSSLCXXQSBB395
            
            47877.00000000
          
          
            Morgan Stanley
            N/A
            N/A
            IGJSJL3JD5P30I6NJZ34
            
            100169.00000000
          
        
        398446.00000000
        
          
            The Bank of Nova Scotia
            N/A
            N/A
            L3I9ZG2KFGXZ61BMYR72
            CA
            628244051.00000000
          
          
            JP MORGAN CHASE & CO.
            N/A
            N/A
            8I5DZWZKVSZI1NUHU748
            
            746419563.00000000
          
          
            Deutsche Bank Aktiengesellschaft
            N/A
            N/A
            7LTWFZYICNSX8D621K86
            DE
            274618341.00000000
          
          
            BARCLAYS PLC
            N/A
            N/A
            213800LBQA1Y9L22JB70
            GB
            579733721.00000000
          
          
            Wells Fargo & Company
            N/A
            N/A
            PBLD0EJDB5FWOLXP3B76
            
            554604249.00000000
          
          
            Morgan Stanley
            N/A
            N/A
            IGJSJL3JD5P30I6NJZ34
            
            1434360996.00000000
          
          
            Citigroup Inc.
            N/A
            N/A
            6SHGI4ZSSLCXXQSBB395
            
            523031020.00000000
          
          
            The Goldman Sachs Group, Inc.
            N/A
            N/A
            784F5XWPLTWKTBV3E584
            
            779221155.00000000
          
          
            Bank of America Corporation
            N/A
            N/A
            9DJT3UXIJIZJI4WXO774
            
            648763853.00000000
          
          
            CITADEL SECURITIES INSTITUTIONAL LLC
            008-69663
            000281102
            549300MLQ1S3715IUK04
            
            302378644.00000000
          
        
        7439294180.00000000
        N
        3806368520.00000000
        0.00000000
        N
        N
        N
        N
      
      
        T. Rowe Price U.S. Treasury Money Fund
        S000002169
        5493009ZDCM2JOJCUS84
        N
        3
        0
        0
        
          
          
          
        
        
          Money Market Fund
        
        N
        N
        N
        N
        N/A
        N/A
        N/A
        
          Rule 32a-4 (17 CFR 270.32a-4)
        
        Y
        Y
        Y
        Y
        
          
            T. Rowe Price Associates, Inc.
            801-00856
            000105496
            7HTL8AEQSEDX602FBU63
            
            N
          
        
        
          
            T. Rowe Price Services, Inc.
            084-01079
            N/A
            
            Y
            N
          
          
            T. Rowe Price Retirement Plan Services, Inc.
            084-01917
            N/A
            
            Y
            Y
          
        
        N
        
          
            Bloomberg Finance L.P.
            5493001KJTIIGC8Y1R12
            
            N
          
          
            Refinitiv US Holdings Inc.
            549300NF240HXJO7N016
            
            N
          
          
            Markit North America, Inc.
            N/A
            
            N
          
          
            ICE Data Services
            13-3668779
            Tax ID
            
            N
          
        
        N
        
          
            State Street Bank and Trust Company
            571474TGEMMWANRLN572
            
            N
            N
            Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
          
          
            JPMorgan Chase Bank, London
            7H6GLXDRUGQFU57RNE97
            GB
            N
            N
            Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
          
        
        N
        
          
            T. Rowe Price Services, Inc.
            N/A
            
            Y
            N
          
          
            T. Rowe Price Retirement Plan Services, Inc.
            N/A
            
            Y
            Y
          
        
        N
        
          
            T. Rowe Price Associates, Inc.
            7HTL8AEQSEDX602FBU63
            
            Y
            N
          
        
        N
        
          
            T. Rowe Price Investment Services, Inc.
            008-25130
            000008348
            N/A
            
            0.00000000
          
        
        0.00000000
        
          
            Citigroup Inc.
            N/A
            N/A
            6SHGI4ZSSLCXXQSBB395
            
            56862890149.00000000
          
          
            HSBC HOLDINGS PLC
            N/A
            N/A
            MLU0ZO3ML4LN2LL2TL39
            GB
            41347763407.00000000
          
          
            THE BANK OF NEW YORK MELLON CORPORATION
            N/A
            N/A
            WFLLPEPC7FZXENRZV188
            
            211353000000.00000000
          
          
            BNP PARIBAS
            N/A
            N/A
            R0MUWSFPU8MPRO8K5P83
            FR
            55105000000.00000000
          
          
            JP MORGAN CHASE & CO.
            N/A
            N/A
            8I5DZWZKVSZI1NUHU748
            
            28301022147.00000000
          
          
            Bank of America Corporation
            N/A
            N/A
            9DJT3UXIJIZJI4WXO774
            
            9683825744.00000000
          
          
            CREDIT AGRICOLE SA
            N/A
            N/A
            969500TJ5KRTCJQWXH05
            FR
            23383382762.00000000
          
          
            Royal Bank of Canada
            N/A
            N/A
            ES7IP3U3RHIGC71XBU11
            CA
            28317853763.00000000
          
          
            Federal Reserve Bank of New York
            N/A
            N/A
            254900Y8NKGV541U8Q32
            
            769448000000.00000000
          
          
            TD Securities Ltd.
            N/A
            N/A
            PT3QB789TSUIDF371261
            CA
            5938401408.00000000
          
        
        1248467186360.00000000
        N
        11821201376.00000000
        N
        N
        N
      
    
    
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Report of Independent Registered Public Accounting Firm

To the Board of Directors of T. Rowe Price U.S. Treasury Funds, Inc. and Shareholders of T. Rowe Price U.S. Treasury Intermediate Index Fund, T. Rowe Price U.S. Treasury Long-Term Index Fund, and T. Rowe Price U.S. Treasury Money Fund

In planning and performing our audit of the financial statements of T. Rowe Price U.S. Treasury Intermediate Index Fund, T. Rowe Price U.S. Treasury Long-Term Index Fund, and T. Rowe Price U.S. Treasury Money Fund (constituting T. Rowe Price U.S. Treasury Funds, Inc., hereafter collectively referred to as the "Funds") as of and for the year ended May 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds' internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Funds' internal control over financial reporting.

The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Funds' internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds' internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of May 31, 2022.

This report is intended solely for the information and use of the Board of Directors of T. Rowe Price U.S. Treasury Funds, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ PricewaterhouseCoopers LLP

Baltimore, Maryland

July 20, 2022

 

PricewaterhouseCoopers LLP, 100 East Pratt Street, Suite 2600, Baltimore, Maryland 21202-1096 T: 410 783 7600, www.pwc.com/us




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