Proposed 2004 Planning and Budget Formulation Process

Proposed 2004 budget/staffing targets would be developed centrally for each division and office. DOF would calculate a 2003 spending baseline for each division and office, adjustments to the 2003 spending baseline would be made to reflect 2004 planning/budget guidelines established by senior management, and divisions and offices would have 30 days to confirm or identify exceptions to their proposed 2004 budgets. Corporate planning activities would be fully integrated into a consolidated planning and budget formulation process, including Annual Performance Plan goals and corporate/business line performance objectives. Senior management would perform a collective review of proposed 2004 Corporate Performance Objectives, spending priorities, and cost reduction ideas at a 2-day senior management retreat. The review process for planned contract spending would be simplified. Projected timeframes would start in mid-July with senior management establishment of 2004 planning and budget guidelines and end in mid-October through mid-November with the proposed budget and staffing briefing to the FDIC Chairman and the Board.

Source: May 8, 2003 DOF presentation to the FDIC Operating Committee.

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