United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2001-08-02 monographic deposited born digital 28 p. GA 1.13:GAO-01-949 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-949 P0b002ee180385dbe f:d01949 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-01-949 machine generated eng fdlp REPORT GAOREPORTS-GAO-01-949 GAO-01-949 Regulatory agencies Administrative costs Cost control Bank examination Fees Financial institutions Farm credit banks Financial analysis Government sponsored enterprises Other Written Product A01510

The Farm Credit Administration (FCA) regulates the Farm Credit System. Administrative expenses, which accounted for about 97 percent of FCA's total operating expenses of $34.5 million in fiscal year 2000, are funded primarily by assessments on the institutions that make up the System, including the Federal Agricultural Mortgage Corporation (Farmer Mac). This report (1) analyses trends in administrative expenses for fiscal years 1996 through 2000 and, (2) compares ways that FCA and other federal financial regulators calculate the assessments they need to fund their operations. GAO found that while FCA's administrative expenditures varied each year between 1996 and 2000, they remained below 1996 levels and stayed within congressionally imposed annual spending limits for each year during 1997 through 2000. Overall between 1996 and 2000, the agency experienced a decline in administrative spending of around $2 million, or 5.8 percent. Personnel costs made up the largest expenditure category, consistently accounting for more than 80 percent of administrative spending; thus, a 15 percent staff reduction also provided the greatest overall savings. FCA funds its operational budget in much the same way as the other federal financial regulators included in GAO's study. Unlike many government agencies whose operations are funded by taxpayers' money, the federal financial regulators are self-funded agencies that rely primarily on assessment revenue from the entities they regulate. In calculating these assessments, FCA and the other federal financial regulators use separate methodologies for primary and secondary market entities. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-949/html/GAOREPORTS-GAO-01-949.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-949/pdf/GAOREPORTS-GAO-01-949.pdf GAO-01-949 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-949 Other Written Product GAO-01-949; Farm Credit Administration: Analysis of Administrative Expenses and Funding Through Assessments; Regulatory agencies Administrative costs Cost control Bank examination Fees Financial institutions Farm credit banks Financial analysis Government sponsored enterprises Title 12 Section 2250 Title 12 Section 2279aa 12 U.S.C. 2250 12 U.S.C. 2279aa