ALEXANDRIA, Va. — NCUA approved a 0.81% budget increase last week for 2007, but planned ahead for a larger increase in 2008, while knocking down federal credit unions' operating fees and the overhead transfer rate from the NCUSIF.
The approved $152,016,840 budget for 2007 represents a $1.2 million increase over the 2006 budget, or just 0.81%. The agency plans to maintain staffing, measured in full-time equivalents at 958. NCUA's budget contains an average 3.1% merit increase, impacting the budget by $2.6 million. Employee pay and benefits account for approximately 75% of the agency's budget.
Looking ahead to 2008, the agency is anticipating a budget of $157,678,517.
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