Members of the NCUA Board have released their individual office budgets for fiscal year 2014 and FY2015 to increase transparency about the agency's operations, the NCUA said.
The office budget for NCUA Board Chairman Debbie Matz dropped from $1,099,445 in 2014 to $1,067,700 in 2015, according to the NCUA.
"For 2015, NCUA has already released more detailed information on the overall budget, office budgets, contracting and the budget process," Matz said. "By making public information about the budgets of each Board Member, we are now taking the next step in furthering our commitment to budget disclosure and public awareness."
The office budget for NCUA Board Member J. Mark McWatters, who was sworn-in on August 26, 2014, declined from $709,787 to $703,177. The full office budget excludes a furniture purchase of $21,600, which was funded by the NCUA's central furniture budget.
"In an effort to show my ongoing commitment to full information sharing, I called for posting my office budget on the NCUA website," NCUA Board Member McWatters said. "As I noted in my remarks at the November Board meeting, we are spending other peoples' money, the scarce resources of federal and state-chartered credit unions and their members."
McWatters added, "Any allocation of these funds should follow only after thoughtful reflection as to the necessity of the expenditures and whether the costs have been undertaken in the most efficient, effective, transparent and fully accountable manner."
NCUA Board Vice Chairman Rick Metsger's office budget also dropped from $711,915 in 2014 to $671,800 in 2015.
"Transparency provides the sunlight needed to promote good government and accountability," Metsger said. "We have therefore released more information about the budget than in prior years, including information about the budget of each NCUA Board Member. As a result, NCUA's many stakeholders will be better able to evaluate NCUA's performance in 2015."
The overall 2015 operating budget is available online on the NCUA's website.
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