Annual Performance Report 2014
PrintPreface
The Strategic Framework 2012-15 (strategic framework), available at www.federalreserve.gov/publications/gpra, identified and framed the most critical organizational challenges faced by the Board of Governors (Board), developed potential options for addressing them, identified resource requirements, and set budgetary growth targets. The Annual Performance Report 2014 summarizes the Board's accomplishments in 2014 toward achieving the objectives identified in the strategic framework.
Both reports 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. 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 performance reports.
As required by the Federal Reserve Act, the Board annually submits to the Congress a separate report describing in detail operations of the Federal Reserve System (FRS) for the previous year. The FRS has also provided the Congress with a supplemental report, Annual Report: Budget Review (ARBR),which provided a detailed explanation of the plans and resources discussed in the approved budgets of the Board and the 12 Federal Reserve Banks. Commencing with the 2013 reporting year, the Board included the ARBR in its Annual Report.
These reports are available on the Board's website, at www.federalreserve.gov/publications.
