ALEXANDRIA, Va. — During today's NCUA Board meeting, the agencyapproved a higher than anticipated budget increase following a newbargaining agreement with the National Treasury EmployeesUnion.
The final 2008 budget approved was for $158,631,447,representing a $6.6 million increase or 4.35%, over the 2007budget. Saying a bargaining agreement would have further impact onits budget, NCUA had projected its public budget briefing for a3.0% increase.
NCUA Executive Director Len Skiles said merit pay increases willrange anywhere from 2.75% to 8.25%, averaging 5.0%. Locality pay isexpected to go up in most areas as well. Other significant budgetitems are a $5 million accounting program upgrade for the11-year-old system and seven additional examiners.
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