NCUA proposes 3.9% increase in operating budget for 2020
The NCUA attributes one factor in the budget jump to the increase in mandatory contributions that all federal agencies must make to the Federal Employee Retirement System.
The NCUA on Tuesday proposed a 2020 agency operating budget of $316.2 million, an $11.8 million increase over the board-approved 2019 budget.
That amounts to a 3.9% increase over 2019.
The operating budget is projected to increase to $326 million in 2021.
Overall, the agency proposed a 2020 budget of $347.7 million, a $3.9 million boost over the board-approved 2019 budget.
The NCUA posted its budget justification on its website Tuesday morning and will accept comments on the plan until Dec. 2. The agency scheduled a Nov. 20 public budget briefing.
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