ALEXANDRIA, Va. (12/17/14)--Individual office budgets for each National Credit Union Administration board member were posted Tuesday to the agency's website.
NCUA Chair Debbie Matz called this another step for the agency to increase transparency about its budget and operations.
"In November, I committed to expanding the information and data made available to assist the public in understanding the budget process," she said. "For 2015, NCUA has already released more detailed information on the overall budget, office budgets, contracting and the budget process. By making public information about the budgets of each board member, we are now taking the next step in furthering our commitment to budget disclosure and public awareness."
Matz's budget for 2015 is $1,099,445, a $31,475 (2.9%) decrease from 2014. Reductions from 2014 include 33% less for travel, 40% less for administration and 6.3% less for contracted services. Matz's office saw a 1.5% increase in pay and benefits from 2014.
Metsger's office budget is $671,800, a 5.6% decrease from 2014. The budget includes reductions from 2014 in pay and benefits (1.7%), travel (25%) and administration (50%).
"Transparency provides the sunlight needed to promote good government and accountability," Metsger said. "We have therefore released more information about the budget than in prior years, including information about the budget of each NCUA board member. As a result, NCUA's many stakeholders will be better able to evaluate NCUA's performance in 2015."
McWatters was sworn in as a board member in August--his spot was previously held by Michael Fryzel. The budget for that position is $703,177 for 2015, a 0.9% decrease from 2014. Reductions from 2014 include pay and benefits (1.1%), travel (12.5%) and administration (27%). Contracted services for the position rose by $20,000 from 2014, a 133% increase.
"In an effort to show my ongoing commitment to full information sharing, I called for posting my office budget on the NCUA website," McWatters said. "As I noted in my remarks at the November board meeting, we are spending other peoples' money, the scarce resources of federal- and state-chartered credit unions and their members. Any allocation of these funds should follow only after thoughtful reflection as to the necessity of the expenditures and whether the costs have been undertaken in the most efficient, effective, transparent and fully accountable manner. I welcome the posting of budget information about all board offices."
The agency previously posted several supplementary 2015 budget documents, including the board action memorandum, office budget by cost element, budget slides, procurement processes and more.
According to the NCUA, additional material on frequently asked questions about the budget will be posted in the coming weeks.