Annual Report Budget Review 2013
Appendix B: Expenses and Employment at the Board of Governors
Table B.1. Operating expenses of the Board of Governors, by division, office, or special account, 2011-13
Millions of dollars| Division, office, or special account | 2011 (budgeted) 1 | 2011 (actual) | 2012 (budgeted) | 2012 (actual) | 2013 (budgeted) |
|---|---|---|---|---|---|
| Board Members | 18.7 | 17.5 | 24.8 | 24.8 | 26.9 |
| Secretary | 8.6 | 8.4 | 8.9 | 9.0 | 9.4 |
| Research and Statistics | 57.9 | 55.5 | 60.3 | 58.6 | 64.3 |
| International Finance | 22.0 | 20.1 | 22.7 | 22.3 | 25.1 |
| Monetary Affairs | 23.6 | 21.5 | 27.7 | 26.1 | 30.9 |
| Office of Financial Stability Policy and Research | 2.7 | 1.8 | 3.4 | 3.4 | 4.9 |
| Bank Supervision and Regulation | 75.0 | 73.8 | 91.4 | 92.9 | 102.6 |
| Consumer and Community Affairs | 26.4 | 23.6 | 23.4 | 22.4 | 24.1 |
| Legal | 21.1 | 18.7 | 20.3 | 19.9 | 22.7 |
| Chief Operating Officer 2 | 0.0 | 0.0 | 0.0 | 0.1 | 3.0 |
| Financial Management2 | 0.0 | 0.0 | 0.0 | 0.0 | 9.5 |
| Reserve Bank Operations and Payment Systems | 32.0 | 30.0 | 33.7 | 33.4 | 33.9 |
| Staff Director 3 | 11.6 | 10.6 | 0.0 | 0.0 | 0.0 |
| Information Technology | 69.0 | 65.8 | 78.4 | 76.1 | 81.6 |
| Management | 107.7 | 101.6 | 123.3 | 118.6 | 110.8 |
| Data processing income | -28.8 | -29.0 | -33.8 | -35.0 | -36.5 |
| Residual retirement | 12.9 | 6.8 | 10.4 | 11.2 | 14.7 |
| Special projects | 14.3 | 13.4 | 14.8 | 12.2 | 17.9 |
| Savings and reallocations | 0.0 | 0.0 | 0.7 | 0.0 | -1.9 |
| Extraordinary items | 0.5 | 0.3 | 1.5 | 1.5 | 16.0 |
| Total, Board operations | 475.2 | 440.4 | 511.8 | 497.4 | 560.0 |
| Office of Inspector General | 18.0 | 11.9 | 20.6 | 14.9 | 26.9 |
Note: Components may not sum to totals and may not yield percentages shown because of rounding.
1. During 2011, the Board approved a $0.4 million decrease in the Board's initial operating budget of $475.6 million, a $0.7 million increase for the Board's single-year capital budget, and a $12.2 million increase in the Board's multiyear capital budget. Return to table
2. Effective October 16, 2012, select office functions, including positions within the Management Division, were reallocated to formally establish the Office of the Chief Operating Officer and the Division of Financial Management. Return to table
3. Effective January 1, 2012, the Office of Staff Director was abolished, and office functions were reallocated to other divisions. Return to table
Table B.2. Operating expenses of the Board of Governors, by account classification, 2011-13
Millions of dollars| Account classification | 2011 (budgeted) 1 | 2011 (actual) | 2012 (budgeted) | 2012 (actual) | 2013 (budgeted) |
|---|---|---|---|---|---|
| Personnel services | |||||
| Salaries | 278.1 | 266.7 | 294.1 | 289.4 | 314.3 |
| Retirement/thrift plans | 37.8 | 35.3 | 38.4 | 39.8 | 43.3 |
| Employee insurance | 27.0 | 21.0 | 24.6 | 25.2 | 28.9 |
| Subtotal, salaries and benefits | 343.0 | 323.0 | 357.1 | 354.3 | 386.5 |
| Goods and services | |||||
| Postage and shipping | 0.7 | 0.5 | 0.8 | 0.5 | 0.7 |
| Travel | 12.8 | 14.2 | 13.4 | 14.5 | 14.2 |
| Telecommunications | 5.0 | 4.8 | 6.9 | 5.9 | 7.4 |
| Printing and binding | 2.1 | 1.6 | 2.3 | 1.6 | 2.4 |
| Publications | 0.8 | 0.7 | 0.6 | 0.5 | 0.6 |
| Stationery and supplies | 1.6 | 1.7 | 1.6 | 1.7 | 1.6 |
| Software | 10.8 | 9.3 | 11.6 | 10.8 | 12.1 |
| Furniture and equipment | 9.2 | 7.1 | 9.0 | 7.6 | 9.7 |
| Rentals | 8.4 | 6.6 | 16.1 | 14.4 | 12.8 |
| Books and subscriptions | 1.0 | 0.8 | 1.1 | 1.0 | 1.1 |
| Utilities | 4.0 | 3.9 | 3.9 | 3.2 | 3.9 |
| Repairs and alterations bldg. | 3.0 | 2.5 | 3.1 | 2.9 | 3.0 |
| Repairs and maintenance F&E | 2.2 | 2.2 | 2.3 | 2.8 | 2.9 |
| Contingency processing center | 1.3 | 1.2 | 1.4 | 1.2 | 1.3 |
| Contractual professional services | 45.5 | 37.1 | 54.7 | 50.5 | 71.8 |
| Interest expense | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 |
| Tuition | 4.4 | 3.8 | 4.6 | 3.8 | 4.9 |
| Subsidies and contributions | 0.8 | 0.5 | 0.8 | 0.7 | 0.8 |
| Depreciation.a.mortization | 18.1 | 19.4 | 20.5 | 21.9 | 24.1 |
| All other 2 | 0.4 | -0.7 | -0.3 | -2.3 | -1.8 |
| Subtotal, goods and services | 132.1 | 117.4 | 154.7 | 143.1 | 173.5 |
| Total, Board operations | 475.2 | 440.4 | 511.8 | 497.4 | 560.0 |
| Office of Inspector General | 18.0 | 11.9 | 20.6 | 14.9 | 26.9 |
Note: Components may not sum to totals and may not yield percentages shown because of rounding.
1. During 2011, the Board approved a $0.4 million decrease in the Board's initial operating budget of $475.6 million, a $0.7 million increase for the Board's single-year capital budget, and a $12.2 million increase in the Board's multiyear capital budget. Return to table
2. All other includes, among other items, income from outside agencies for data processing services, rental income, and transportation subsidy benefits for employees. Return to table
Table B.3. Positions authorized at the Board of Governors, by division, office, or special account, 2011-13
| Division, office, or special account | Position count 1 | ||||
|---|---|---|---|---|---|
| 2011 (budgeted) | 2011 (ending) | 2012 (budgeted) | 2012 (ending) | 2013 (budgeted) | |
| Board Members | 89 | 90 | 115 | 115 | 115 |
| Secretary | 51 | 53 | 53 | 53 | 53 |
| Research and Statistics | 324 | 325 | 341 | 341 | 353 |
| International Finance | 124 | 124 | 129 | 129 | 136 |
| Monetary Affairs | 112 | 110 | 120 | 144 | 144 |
| Office of Financial Stability Policy and Research | 12 | 14 | 19 | 21 | 34 |
| Bank Supervision and Regulation | 328 | 347 | 383 | 383 | 412 |
| Consumer and Community Affairs | 95 | 99 | 103 | 103 | 103 |
| Legal | 94 | 94 | 99 | 99 | 105 |
| Chief Operating Officer 2 | ... | ... | ... | 2 | 16 |
| Financial Management2 | ... | ... | ... | ... | 67 |
| Reserve Bank Operations and Payment Systems | 151 | 154 | 154 | 154 | 156 |
| Staff Director 3 | 49 | 50 | ... | ... | ... |
| Information Technology | 369 | 369 | 397 | 397 | 397 |
| Management 4 | 533 | 534 | 529 | 527 | 449 |
| Total, Board operations | 2,331 | 2,363 | 2,442 | 2,468 | 2,540 |
| Office of Inspector General | 85 | 85 | 113 | 113 | 115 |
Note: Includes only those divisions, offices, and special accounts that have authorized position counts.
1. Interns are not included in the numbers for positions or employment. Return to table
2. Effective October 16, 2012, select office functions, including positions within the Management Division, were reallocated to formally establish the Office of the Chief Operating Officer and the Division of Financial Management. Return to table
3. Effective January 1, 2012, the Office of Staff Director was abolished, and functions of that office were reallocated to other divisions. Return to table
4. The counts (budgeted and ending) for 2011 include positions for cooperative education, worker trainee, and student aide programs that assist divisions Boardwide. Return to table
... Not applicable.
