The NCUA’s proposed 2021–2022 budget is now available for review and comment until Dec. 11.
The proposed 2021 operating budget is $315.6 million, which is 0.1% lower than the comparable 2020 budget, according to the agency. The draft 2021 capital budget is $18.8 million, or 24.8% lower than 2020.
Largely because of surplus travel funds from 2020 and a lower estimated travel budget for 2021 due to anticipated COVID-19 travel restrictions, the NCUA lowered its operating budget for 2021 “without compromising its mission of protecting the safety and soundness of the credit union system, according to the agency.”
The proposed budget summary and detailed budget justification are available on the Budget and Supplementary Materials page of the NCUA’s website. The agency will also publish the proposal in the Federal Register.
“As we consider the draft staff budget for 2021–2022, the NCUA remains firm in its commitment to be a sound and prudent steward of the funds we collect from credit unions and any other resources entrusted to us,” said Rodney Hood, NCUA chairman. “This responsibility includes holding ourselves accountable by maximizing our resources and upholding transparency by inviting the public to comment on our proposed budget.”
The agency will hold a livestreamed public budget briefing on Dec. 2, beginning at 10 a.m. on the NCUA website. The NCUA’s board is scheduled to approve a final budget at its Dec. 17 open meeting.
To comment on the proposed budget:
- Email comments to BudgetComments@ncua.gov by Dec. 11.
- Comments should provide specific, actionable recommendations.
To request a presentation at the Dec. 2 budget briefing:
- Email your request to BudgetBriefing@ncua.gov by Nov. 20.
- Include the presenter’s name, title, affiliation, mailing address, email address and telephone number.
- The board secretary will notify approved presenters and give them their allotted presentation times.
- Email a copy of your presentation to BudgetBriefing@ncua.gov by 5 p.m. on Nov. 30.