The Results Act:
Observations on FDIC's Annual Performance Plan
GGD-98-190R: Published: Sep 15, 1998. Publicly Released: Sep 15, 1998.
Pursuant to a congressional request, GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) 1998 annual performance plan, which was submitted to meet the requirements of the Government Performance and Results Act.
GAO noted that: (1) FDIC has made a good initial effort in preparing its performance plan; (2) FDIC's annual performance plan contains the basic elements required by the Results Act; (3) however, the FDIC plan could be more useful to congressional decisionmakers if it had more performance goals that are results-oriented, objective, and quantifiable; and fewer that describe strategies; (4) the plan could also be improved if it linked more performance goals and measures to strategic goals, more clearly explained FDIC's plans for coordinating its efforts with other financial regulatory agencies, and better explained how FDIC's strategies and resources will help the agency achieve its performance goals; and (5) lastly, the plan would be more useful if it had more specific information on improving the verification and validation, and addressing the limitations, of its performance data.