Annual Performance Plan 2013
On June 26, 2012, the Board of Governors approved the 2012-15 Strategic Framework, which identifies and frames the most critical organizational challenges faced by the Board, develops potential options for addressing them, and clarifies the tradeoffs. The Annual Performance Plan, 2013 sets forth the planned projects, initiatives, and activities that will contribute to the strategic framework's long-term objectives. The performance plan is issued independently of other, related documents; however, considering the plan in conjunction with these other documents gives a more detailed understanding of the planning, budgeting, operations, and performance of the Board.
Both the Strategic Framework and the Annual Performance Plan are issued in the spirit of the Government Performance and Results Act (GPRA) of 1993, which requires that federal agencies, in consultation with the Congress and outside stakeholders, prepare a strategic plan covering a multiyear period and submit an annual performance plan and annual performance report. The GPRA Modernization Act of 2010 refines those requirements to include quarterly performance reporting. Although the Board is not covered by GPRA, the Board voluntarily complies with the spirit of the act and, like other federal agencies, prepares a strategic plan as well as annual plans and reports.
As required by the Federal Reserve Act, the Board annually submits to the Congress a report describing in detail the operations of the System for the previous year. Since 1985, the System has also provided the Congress with a supplement, the Annual Report: Budget Review, which provides a detailed explanation of the plans and resources discussed in the approved budgets of the Board and the Reserve Banks.
All these reports are available on the Board's website, at www.federalreserve.gov/publications.