diff --git a/core/src/banking_stage/scheduler_messages.rs b/core/src/banking_stage/scheduler_messages.rs
index f5b6ae9258..172087e2cf 100644
--- a/core/src/banking_stage/scheduler_messages.rs
+++ b/core/src/banking_stage/scheduler_messages.rs
@@ -1,7 +1,7 @@
 use {
     super::immutable_deserialized_packet::ImmutableDeserializedPacket,
     solana_sdk::{clock::Slot, transaction::SanitizedTransaction},
-    std::sync::Arc,
+    std::{fmt::Display, sync::Arc},
 };
 
 /// A unique identifier for a transaction batch.
@@ -14,6 +14,12 @@ impl TransactionBatchId {
     }
 }
 
+impl Display for TransactionBatchId {
+    fn fmt(&self, f: &mut std::fmt::Formatter) -> std::fmt::Result {
+        write!(f, "{}", self.0)
+    }
+}
+
 /// A unique identifier for a transaction.
 #[derive(Clone, Copy, Debug, Hash, PartialEq, Eq)]
 pub struct TransactionId(u64);
@@ -24,6 +30,12 @@ impl TransactionId {
     }
 }
 
+impl Display for TransactionId {
+    fn fmt(&self, f: &mut std::fmt::Formatter) -> std::fmt::Result {
+        write!(f, "{}", self.0)
+    }
+}
+
 /// Message: [Scheduler -> Worker]
 /// Transactions to be consumed (i.e. executed, recorded, and committed)
 pub struct ConsumeWork {
diff --git a/core/src/banking_stage/transaction_scheduler/in_flight_tracker.rs b/core/src/banking_stage/transaction_scheduler/in_flight_tracker.rs
new file mode 100644
index 0000000000..243f14c669
--- /dev/null
+++ b/core/src/banking_stage/transaction_scheduler/in_flight_tracker.rs
@@ -0,0 +1,123 @@
+use {
+    super::{batch_id_generator::BatchIdGenerator, thread_aware_account_locks::ThreadId},
+    crate::banking_stage::scheduler_messages::TransactionBatchId,
+    std::collections::HashMap,
+};
+
+/// Tracks the number of transactions that are in flight for each thread.
+pub struct InFlightTracker {
+    num_in_flight_per_thread: Vec<usize>,
+    cus_in_flight_per_thread: Vec<u64>,
+    batches: HashMap<TransactionBatchId, BatchEntry>,
+    batch_id_generator: BatchIdGenerator,
+}
+
+struct BatchEntry {
+    thread_id: ThreadId,
+    num_transactions: usize,
+    total_cus: u64,
+}
+
+impl InFlightTracker {
+    pub fn new(num_threads: usize) -> Self {
+        Self {
+            num_in_flight_per_thread: vec![0; num_threads],
+            cus_in_flight_per_thread: vec![0; num_threads],
+            batches: HashMap::new(),
+            batch_id_generator: BatchIdGenerator::default(),
+        }
+    }
+
+    /// Returns the number of transactions that are in flight for each thread.
+    pub fn num_in_flight_per_thread(&self) -> &[usize] {
+        &self.num_in_flight_per_thread
+    }
+
+    /// Returns the number of cus that are in flight for each thread.
+    pub fn cus_in_flight_per_thread(&self) -> &[u64] {
+        &self.cus_in_flight_per_thread
+    }
+
+    /// Tracks number of transactions and CUs in-flight for the `thread_id`.
+    /// Returns a `TransactionBatchId` that can be used to stop tracking the batch
+    /// when it is complete.
+    pub fn track_batch(
+        &mut self,
+        num_transactions: usize,
+        total_cus: u64,
+        thread_id: ThreadId,
+    ) -> TransactionBatchId {
+        let batch_id = self.batch_id_generator.next();
+        self.num_in_flight_per_thread[thread_id] += num_transactions;
+        self.cus_in_flight_per_thread[thread_id] += total_cus;
+        self.batches.insert(
+            batch_id,
+            BatchEntry {
+                thread_id,
+                num_transactions,
+                total_cus,
+            },
+        );
+
+        batch_id
+    }
+
+    /// Stop tracking the batch with given `batch_id`.
+    /// Removes the number of transactions for the scheduled thread.
+    /// Returns the thread id that the batch was scheduled on.
+    ///
+    /// # Panics
+    /// Panics if the batch id does not exist in the tracker.
+    pub fn complete_batch(&mut self, batch_id: TransactionBatchId) -> ThreadId {
+        let Some(BatchEntry {
+            thread_id,
+            num_transactions,
+            total_cus,
+        }) = self.batches.remove(&batch_id)
+        else {
+            panic!("batch id {batch_id} is not being tracked");
+        };
+        self.num_in_flight_per_thread[thread_id] -= num_transactions;
+        self.cus_in_flight_per_thread[thread_id] -= total_cus;
+
+        thread_id
+    }
+}
+
+#[cfg(test)]
+mod tests {
+    use super::*;
+
+    #[test]
+    #[should_panic(expected = "is not being tracked")]
+    fn test_in_flight_tracker_untracked_batch() {
+        let mut in_flight_tracker = InFlightTracker::new(2);
+        in_flight_tracker.complete_batch(TransactionBatchId::new(5));
+    }
+
+    #[test]
+    fn test_in_flight_tracker() {
+        let mut in_flight_tracker = InFlightTracker::new(2);
+
+        // Add a batch with 2 transactions, 10 kCUs to thread 0.
+        let batch_id_0 = in_flight_tracker.track_batch(2, 10_000, 0);
+        assert_eq!(in_flight_tracker.num_in_flight_per_thread(), &[2, 0]);
+        assert_eq!(in_flight_tracker.cus_in_flight_per_thread(), &[10_000, 0]);
+
+        // Add a batch with 1 transaction, 15 kCUs to thread 1.
+        let batch_id_1 = in_flight_tracker.track_batch(1, 15_000, 1);
+        assert_eq!(in_flight_tracker.num_in_flight_per_thread(), &[2, 1]);
+        assert_eq!(
+            in_flight_tracker.cus_in_flight_per_thread(),
+            &[10_000, 15_000]
+        );
+
+        in_flight_tracker.complete_batch(batch_id_0);
+        assert_eq!(in_flight_tracker.num_in_flight_per_thread(), &[0, 1]);
+        assert_eq!(in_flight_tracker.cus_in_flight_per_thread(), &[0, 15_000]);
+
+        in_flight_tracker.complete_batch(batch_id_1);
+        assert_eq!(in_flight_tracker.num_in_flight_per_thread(), &[0, 0]);
+        assert_eq!(in_flight_tracker.cus_in_flight_per_thread(), &[0, 0]);
+    }
+}
diff --git a/core/src/banking_stage/transaction_scheduler/mod.rs b/core/src/banking_stage/transaction_scheduler/mod.rs
index 065efba0d8..96639f4ad4 100644
--- a/core/src/banking_stage/transaction_scheduler/mod.rs
+++ b/core/src/banking_stage/transaction_scheduler/mod.rs
@@ -7,8 +7,8 @@ mod transaction_state;
 #[allow(dead_code)]
 mod transaction_state_container;
 
+mod batch_id_generator;
+#[allow(dead_code)]
+mod in_flight_tracker;
 #[allow(dead_code)]
 mod transaction_id_generator;
-
-#[allow(dead_code)]
-mod batch_id_generator;