ALEXANDRIA, Va. (11/29/12)--The National Credit Union Administration's (NCUA) Tuesday release of supplemental 2013 budget information "is a positive step that can shed more light on the agency's allocation of resources," Credit Union National Association (CUNA) President/CEO Bill Cheney said.
"Further, the disclosure by the agency that it plans to make available to credit unions more information regarding its budget process is, in our view, movement toward greater transparency and accountability, which CUNA has strongly recommended. While we continue to have overall concerns about the growth of the budget, we are grateful the agency is listening to, and acting on, credit union views in this critical area," he added.
The agency this week made available:
- A detailed budget narrative explaining changes in each major budget category, accompanied by graphics showing historical budget level trends, dollar and percentage changes from 2012, and a description of essential spending in each category;
- A detailed pay and benefits narrative, showing expenditures with and without possible congressional approval of a federal employees' pay increase in 2013;
- A chart illustrating the dollar changes in the 2013 budget components by category;
- Graphics detailing trends for the past 14 years in the agency's budget relative to federally insured credit union deposits and assets, as well as the dollar value of federally insured credit union assets per NCUA full-time employee; and
- A table contrasting changes in operating fees for federal credit unions in several asset ranges compared to their net income.
The NCUA said the release of the 2013 budget documents is the first step in making agency budget information more accessible. The agency plans to consolidate more 2013 budget information on its homepage, NCUA.gov, in the first quarter of next year.
For the NCUA budget information, use the resource link.