CUNA analyzing NCUA’s proposed 2018-2019 budget

NCUA posted its proposed 2018-2019 budget Friday, and will accept comments and requests to present at the Oct. 18 budget briefing. CUNA is currently analyzing the materials, which includes a proposed operating budget of $298.2 million for 2018, a 2.1% increase over 2017.

Proposed changes would lower the agency’s authorized staffing level down to 1,174 in the 2019 budget, a reduction of 6% from 2016.

The agency is also reducing leased office space by 80%, the result of restructuring which is eliminating two regional offices, reducing the size of its Asset Management and Assistance Center and realigning supporting functions to central offices.

The agency’s capital budget for 2018 is $15.4 million, which is slightly lower than 2017. It does reflect the continued modernization of NCUA software and hardware, which the agency says is needed to meet its efficiency goals.

CUNA has long advocated for NCUA to consolidate its operations and improve efficiencies, and initial analysis of the proposed budget appears to be headed in the right direction.

The agency’s budget briefing will take place Oct. 18 at 2 p.m. (ET).

Additional details can be found on CUNA’s Removing Barriers Blog.