|Who's shelling out for this "budget"?|
Q: Have you ever prepared a budget that had absolutely no mention of revenue at all?
If the goal of the NCUA and credit unions is to work towards "... setting and raising the bar for transparency at a federal agency." (to quote Chair Metsger); then certainly we must be accountable and competent in our budgeting - using generally accepted, professional standards.
The absence of any discussion of revenues in the
NCUA budget does not measure up to professional accounting principles, nor sound business logic.
|What did you say about revenue sources?|
And, NCUA avoids the critically important questions of the overhead transfer rate, the assessment levels of FCU regulatory fees (which are demonstrably slanted against state-chartered credit unions), as well as transparently dealing with the impact of recent multi-billion dollar legal settlements and the appropriateness of reserve levels.
'Ya know, "setting and raising the bar on transparency at a federal agency" is hard work...
... if you really take it seriously.
IS THE NCUA BOARD REALLY SERIOUS ABOUT THIS?
ACCOUNTABILITY - COMPETENCY - TRANSPARENCY