first_img 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Debbie Matz Debbie Matz was nominated by President Barack Obama to serve as the eighth board chair of the National Credit Union Administration (NCUA). After confirmation by the U.S. Senate on … Web: www.ncua.gov Details Starting in May of each year, NCUA begins the rigorous process of developing the following year’s budget using a zero-based process.Some people have asked me what zero-based budgeting means:It means every position and every expense must be individually justified.It also means our budget is developed from the bottom up.Zero-based budgeting at NCUA begins with a field-level review of every credit union to determine the number of workload hours that will be needed for the upcoming year. Field staff recommends the number of hours to supervise each credit union based on asset size, complexity, and financial trends.Workload estimates are then refined by each level of management in the field, until the budget proposal is forwarded to NCUA’s Central Office for extensive review and analysis.The 15 offices within NCUA headquarters are also rigorously evaluated to ensure resources are allocated efficiently toward priority needs. We don’t just carry over amounts that were budgeted or spent in the prior year. We require every office to explain the merits of every line item, the specific needs for every spending category, and the basis of developing every cost estimate.Throughout the budget process, the Executive Director and the Chief Financial Officer brief each Board Member multiple times on budget proposals that are submitted, updated, and recommended. So the budget is thoroughly vetted at every level of the agency.Lowest Budget Increase in 7 YearsAs a result of the intense analysis, scrubbing, and reviews, I am pleased that NCUA’s 2015 budget includes the lowest increase in seven years.The 4.2 percent increase ensures that we have the resources to efficiently do our jobs—protecting the safety and soundness of credit unions and being a vigilant steward of the National Credit Union Share Insurance Fund—in a manner that recognizes our operating costs are borne by the credit unions we regulate and insure.Cutting the Budget Is Not an OptionI know there will always be those who argue that NCUA should cut the budget—and that any increase is too big.Cutting the budget, however, is not an option. Like all businesses, this agency faces non-discretionary costs that tend to increase each year, such as:Health care;Travel and hotels;Telecommunications;Leased and owned property;Hardware and software; andMaintenance and repairs.So the only way to materially cut the budget would be to substantially cut staff.Reducing Staff Leads to Higher LossesLet me remind you: NCUA made the mistake of cutting staff in the years leading up to the Great Recession. NCUA cut 71 full-time equivalent staff (FTEs) between 2001 and 2008. To keep costs down, the agency employed a smaller exam force, cut back to 18 months between exams, and had fewer office staff analyzing Call Reports.The result was that NCUA was unable to identify many credit unions’ problems soon enough to save them from losses.Another argument some stakeholders make is that NCUA should reduce staff each year as the number of credit unions declines.However, that argument has a fatal flaw: Most of the insured shares and troubled assets from those credit unions do not disappear; they are acquired by other credit unions.So the remaining credit unions are growing larger and more complex, posing greater concentration risk to the Share Insurance Fund.Specialists Support New Credit Union PowersLarger, more complex institutions require more examiners with specific specialties in certain operations—from sophisticated investments, to specialized lending, to cutting-edge technology.In addition, credit unions have requested new powers—like derivatives and asset securitization—which require enhanced supervision.I have often said that NCUA needs to keep up with the industry that we supervise. So, our budget is intended to ensure that NCUA’s supervisory expertise will keep pace with credit unions’ expanding business opportunities.Specialists are critical to identifying and resolving traditional risks such as interest rate risk, credit risk, and concentration risk, as well as new and evolving operational risks including cybersecurity threats. To address these risks with a heightened focus on efficiency, this budget would reallocate 18 existing regional staff from generalists to specialists in capital markets, real estate and business lending, and information systems.The 2015 budget will also achieve other important goals and objectives of NCUA’s Strategic Plan:Developing financial literacy and consumer protection programs;Providing guidance to small credit unions; andStrengthening cybersecurity within the agency and throughout the credit union system.It’s important to note: The nine new positions for 2015 will be offset by eliminating five general examiner positions. That’s how we arrived at a net increase of only four FTEs.NCUA Is a Leader in Budget TransparencyStakeholders may be surprised to learn that NCUA discloses considerably more information about our budget and spending than independent federal financial regulatory agencies are required to make available to the public. NCUA even provides more financial information than credit unions are required to provide to their own members.This year, although we are not required to do so, we are providing even greater detail on the NCUA budget:Our publicly posted Board Action Memorandum is twice the length it was in previous years and contains a much greater level of budget detail.For the NCUA website, we’ve disaggregated the top five budget categories that are rolled up in the Board Action Memorandum and broken down each category for all 21 NCUA offices—something we have never done before.Also for the first time, we are posting five fact sheets about the NCUA budget.The fact sheets go beyond the numbers:The first sheds light on transparency; it includes links to all the information posted on NCUA’s budget, as well as NCUA’s spending throughout the year.The second outlines the budget development process in even more detail.The third describes the Information Technology Prioritization Council—the panel I created to weigh the costs and benefits of all proposed IT projects before they are included in the budget.The fourth outlines NCUA’s procurement process, which explains how we use contractors where appropriate rather than hiring permanent FTEs.The fifth will describe major line items where we achieved budget savings for 2015.The bottom line: The 2015 budget is not only more transparent; it will cost-effectively provide NCUA with the necessary resources to achieve the agency’s mission as both regulator and insurer. The budget is designed to protect the safety and soundness of America’s federally insured credit unions and to ensure that no credit union member will lose a penny of their federally insured deposits.last_img read more

first_imgThree Trojans were named Pac-12 Track and Field Athletes of the Week on Tuesday, marking the second week in a row where USC athletes have dominated the Athlete of the Week competition.Sophomore Ricky Morgan was selected as the men’s track athlete, senior Jaide Stepter was selected as the women’s track athlete and sophomore long jumper Adoree’ Jackson was selected as the men’s field athlete.Morgan’s award came after winning the 400-meter dash at the Power Conference Cardinal and Gold meet, running a personal record of 45.54 seconds and taking almost a second off his previous personal record. His time is the best in the country and helped the Trojans take second at that meet against high-ranked teams such as No. 3 Florida, No. 7 Texas and No. 13 Ohio State.Septer also runs the 400-meter dash and set the USC women’s record at the Cardinal and Gold meet at 50.91 seconds. The time ranks fifth in Pac-12 history and leads the country. Septer also ran a 50.6 second leg to win the women’s 4×400-meter relay at the same meet.Jackson won the long jump at the Cardinal and Gold Challenge with a 7.82-meter jump, a length which tied for sixth in the country. He also placed second in the 100-meter race with 10.41 second time, which ranks in the top 20 in the nation.This was the second Athlete of the Week award for all three of these Trojans in the last two weeks of the 2016 track and field season. Their next meet will take place this weekend in San Diego at the California Collegiate Invitational.last_img read more

first_imgWellington Police notes for Wednesday, May 08, 2013:•2:30 a.m. Officers investigated minor in possession in the 1100 block N. A,  Wellington.•2:30 a.m. Trey L. Beeler, 18,  Wellington was issued a notice to appear charged with minor in possession.•2:40 a.m. Cyrus C. Cunningham, 21, Wellington was arrested and charged with driving under the influence of alcohol &/or drugs in the 1100 block. N. A,  Wellington.•11:15 a.m. Officers took a report of lost property of a wallet in the 800 block. E. 16th,  Wellington.•1:40 p.m. Officers took a report of suspicious activity in the 1000 block W. College,  Wellington.•4 p.m. Non-Injury accident in the 900 block. N. Woodlawn,  Wellington involved vehicles operated by Brian E. Hopper, 23, Winfield, and Cherish L. Chesbro, 40,  Wellington.•5:35 p.m. Officers investigated a theft in the 1000 block S. H,  Wellington.•6:02 p.m. Officers investigated a dog bite in the 400 block N. A,  Wellington.•6:23 p.m. Officers investigated a domestic violence battery by a known suspect in the 200 block S. B,  Wellington.last_img read more

first_imgAlexis Trujillo, coordinator of the Betis technical secretariat, believes that not having played the derby against Sevilla due to the stoppage of the coronavirus has hurt the Verdiblanco team. “After having achieved an important victory against the one who was the leader of the championship, which reinforces a lot, At Sánchez Pizjuán there were conditions that could be favorable for us: the losses of Fernando and Gudelj and that it was behind closed doors. That was a great advantage, it was a good time to have been able to play it. But health is above all and this nightmare, unfortunately, has made us confined and we must continue working so that when it can be disputed it is in the best possible state. ““I have been fortunate to be able to play many derbies, what am I going to tell. It is special, different, you put your soul into the field. Our team had that spirit of revenge because in our stadium we could not give the fans a joy. Against Real Madrid we won and you saw the atmosphere in the city and everyone was excited to be able to face this match. Unfortunately this virus has paralyzed everything. I am positive and I believe that the championship will be resumed and finished, for that strict daily controlled guidelines have been set. The players train like this, they send their temperature controls every day and in that aspect the medical services, the technical staff and the nutrition team are working very well and hopefully when we return it will be in the best possible state, “added Alexis. The person in charge of the green and white technical secretariat considers that the work of the players during the confinement will be essential: “You have to see there the good work done by the body and the physical trainers and the order and discipline of the players. When the championship is delayed, the games will surely be played more closely and with the temperatures it will be a greater handicap. The professionalism of the group, the good work of the technical staff and the nutritionists will be very noticeable. Obviously, playing every three days which is one of the options and with a high temperature requires an extra effort for the players ”.The canary praises the behavior of the footballers in this break: “Our players are doing their job very well. They are being controlled very well. We have a group that has shown humanly to be good and supportive and Professionally, there are players who perfectly know the demands of Betis. Now we are in a position in the table that none of us like. “Alexis considers that the green and white objective in this final stretch is to climb positions: “There are many games left. With the teams that are in the positions that we would like we have an important difference. In football anything can happen. In this abnormal situation, the teams that make the most sacrifice and are prepared can take more advantage. Hopefully we are one of them, we can cut the distance and reach the last days being able to have options to fight for something positive and leave the name of Betis as high as possible ”. LaLiga Santander* Data updated as of April 6, 2020last_img read more

first_imgDear Editor,The long-awaited presidential candidate of the PPP/C has been announced and that person is Mr Irfaan Ali. He is the most talked about person in Guyana and I must say on the planet right now.From all appearances, the name Charrandas Persaud has suddenly slipped off the radar and is in the backseat of the thoughts of those who oppose the PPP/C as they now hotly pursue Mr Ali.It is a venomous pursuit as known critics – some of them coming up under new pseudonyms bash the daylight out of Mr Ali. But, try as they may, nothing is going to stop this man from leading the PPP/C unto victory in the next General Elections.And here’s my point, the venom some put in their criticism comes from the fact that none of the parties, not one of them, can win an election here in Guyana. Even when they teamed up with each other in that incestuous association called a coalition they could not put the PPP/C away, only to surrender in a vote of conscience after three and a half long burdensome and torturous years.It is a clear borne fact that the only political party that can and will win any election in Guyana is the PPP/C. That reality has sent shockwaves in the camps of those of our opposers that right now are quivering in fear. The PPP/C has proven that fact throughout its history.And not only would it win an election, but it is also a party that has delivered to the electorate; you talk to any Guyanese even to those in the political divide and they will tell you that the best years of their lives were under the PPP. Bad-talk and smear campaigns cannot erase that. So, I empathise with our detractors out there who are trying their utmost to stop the unstoppable.But let me tell them what has been and still is the PPP/C’s real source of strength, I call it their bedrock, that is, its total reliance on teamwork. Team PPP/C is a formidable force and a tower of strength. A case in point is the calling in of Police to illegally oust Bishop Edghill out of Parliament.The team stood by the Bishop and boxed him in thereby telling the world that we are a united group with one purpose in mind. We shall not be moved, we have a country to stand up for.So, if you follow all of Mr Ali’s speeches you will see one common thread of thought “Team PPP/C” or “We” will deliver, we will are working together to build Guyana again. To come up against such an indomitable team means that you do not have a ghost of a chance, you cannot penetrate or break our singleness of purpose. Because we are a team and people-oriented too, helping, building people- ordinary people, all Guyanese, that is our main objective. Long live Team PPP/C!Respectfully,Neil Adamslast_img read more