The Results Act:

Observations on the Federal Reserve's 1998-99 Biennial Performance Plan

GGD-99-9R: Published: Nov 9, 1998. Publicly Released: Nov 9, 1998.

Additional Materials:

Contact:

Thomas J. McCool
(202) 512-8678
contact@gao.gov

 

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Pursuant to a congressional request, GAO reviewed the Federal Reserve System's (FRS) 1998-99 Biennial Performance Plan, focusing on: (1) assessing how well FRS' performance plan meets the requirements of the Government Performance and Results Act and related guidance; and (2) improving future performance plans.

GAO noted that: (1) FRS has made a good initial effort in preparing its first performance plan; (2) the plan contains all of the elements required by the Results Act and is directly linked to FRS' Results Act Planning Document's strategic goals; (3) the plan's goals also cover all of the functional areas described in FRS' budget, and the performance objectives for each goal define performance expectations in more detail; and (4) however, the plan could be more useful for congressional oversight if it: (a) expressed performance goals more objectively and quantifiably and fully measured performance goals; (b) simplified performance expectations for several performance goals and linked them directly to specific measures and targets that match the performance expectations; (c) developed additional outcome measures; (d) more directly linked strategic goals and annual performance goals; (e) more clearly explained plans for coordinating efforts with other financial regulatory agencies; (f) better explained how FRS' strategies and resources will help achieve its performance goals; and (g) provided more specific information on how FRS verifies and validates performance information and addresses the data limitations.

Nov 21, 2014

Nov 14, 2014

Nov 13, 2014

Nov 12, 2014

Oct 31, 2014

Oct 30, 2014

Oct 27, 2014

Oct 24, 2014

Oct 20, 2014

Oct 9, 2014

Looking for more? Browse all our products here