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Informational Memorandum
Subject:Changes to FCA Reporting Requirements
Date of Memorandum:12/30/1999
Expiration Date:
Signed By:Martin, Marsha
FCA Contact Person:McMahon, Eileen
Contact Phone:703-883-4235
List of Attachments:None

Farm Credit Administration 1501 Farm Credit Drive
McLean, Virginia 22102-5090

December 30, 1999

To: Recipients of FCA Annual Reports

From; Marsha Pyle Martin
Chairman and Chief Executive Officer

Subject: Changes to FCA Reporting Requirements

In 1993, Congress passed the Government Performance and Results Act (Results Act), which established new annual reporting requirements for Federal agencies. Specifically, the Results Act requires Federal agencies to develop program goals, measure program performance against those goals, and report publicly on progress toward achieving the goals. We are now preparing our first annual report under the requirements of the Results Act. This report will be issued by March 31, 2000. It will replace both the “FCA Annual Report” and the “Report on the Financial Condition and Performance of the Farm Credit System”, achieving another efficiency goal for the Agency.

We have been preparing for this new reporting process for the past several years. Our first step was the FCA Strategic Plan for Fiscal Years 1998-2003. The Strategic Plan describes FCA’s long-term policy and management goals along with the level of performance the Agency will achieve during the next 5 years. The Strategic Plan reflects FCA’s statutory responsibilities, establishes measurable goals, and focuses programs on mission-related results. Next, we developed FCA’s Annual Performance Plan for Fiscal Years 1999 and 2000. This provides detailed information about how the Agency will implement initiatives contained in the Strategic Plan and then measure the results obtained from Agency operations. Both the Strategic Plan and the Annual Performance Plan were mailed to you earlier this year when they were issued. They are also available on our Web site ( Embodied in these products are not only the principles of safety and soundness, but of customer service, product quality, effective operations, and clear communication.

Much of the information previously provided in our Annual Report, and our Report on the Condition and Performance of the Farm Credit System, such as the report on programs for young, beginning, and small farmers and ranchers, potential risks for the FCS, and corporate structure, will be in our new consolidated report. We are always looking for ways to improve reporting to better reflect how well the Farm Credit System is achieving its mission, and we invite you to share your suggestions. We will continue to make available our audited financial statements within 90 days of the end of our fiscal year (Dec. 31). We will also post them on our Web site.

The overarching objective of the Results Act is to improve Federal program effectiveness and public accountability by promoting a new focus on results, service quality, and customer satisfaction. I am proud of our employees and the progress we have made as an Agency focused on improving public service and minimizing burdens. Our new approach to reporting on FCA activities and outcomes will be reflected in our report in March.

cc: Central Files/OCPE-2/OB-2