CONGRESS

F H F A O P E R A T I O N S A N D P E R F O R M A N C E
Performance and Program
Assessment
During fiscal year (FY) 2015, 34 FHFA operated
under its Strategic Plan: Fiscal Years 2015-2019
(FY 2015-2019 Strategic Plan) that was released
November 21, 2014. The plan set three strategic goals:
1. Ensure safe and sound regulated entities;
2. Ensure liquidity, stability and access in housing
finance; and
3. Manage the Enterprises ongoing conservatorships.
FHFA’s FY 2015-2019 Strategic Plan reflects the Agency’s
priorities as regulator of the Federal Home Loan Bank
System and as regulator and conservator of the Enterprises.
The plan also reflects the priorities outlined for the
Enterprises in the 2014 Conservatorship Strategic Plan,
which the Agency released in May 2014.
On November 16, 2015, FHFA published its annual
Performance and Accountability Report (PAR), detailing the
Agency’s performance and achievements for FY 2015. The
PAR reports on FHFA’s performance on 24 performance
measures established for FY 2015 to help evaluate FHFA’s
progress toward these strategic goals. FHFA met 22 performance
measures (92 percent) and did not meet two (8
percent) out of the 24 performance measures.
Upon reviewing the Agency’s PAR, the Association of
Government Accountants awarded FHFA the Certificate
of Excellence in Accountability Reporting (CEAR) for the
eighth consecutive year. The CEAR award is presented to
agencies that have demonstrated excellence in integrating
performance and accountability reporting. Only agencies
with unqualified opinions on their financial reports from
an independent auditor are eligible for the award.
Financial Operations
Financial Highlights
HERA authorizes FHFA to collect annual assessments
from its regulated entities to pay its costs and expenses
and maintain a working capital fund. In FY 2015, FHFA
had $330.8 million in total budgetary resources: $241.4 35
million in assessments, $30.9 million in unobligated balance
brought forward from FY 2014, and $7.8 million
in recoveries of prior year unpaid obligations and $50.7
million in spending authority from offsetting collections.
Obligations incurred increased $1.2 million to $301.2
million in FY 2015. Gross outlays, including expenses
incurred by FHFA’s OIG, decreased $0.4 million to $292.5
million in FY 2015.
Figure 21 • FHFA Financial Highlights
$ IN MILLIONS FY 2015 FY 2014 Variance
Total Budgetary Resources $ 330.8 $ 330.9 -0.0%
Assessments $ 241.4 $ 234.9 2.8%
Balance Forward $ 30.9 $ 39.4 -21.6%
Offsetting Collections $ 50.7 $ 46.3 9.5%
Recoveries of Prior Year
Unpaid Obligations
$ 7.8 $ 10.2 -23.5%
Obligations Incurred $ 301.2 $ 300.0 0.4%
Gross Outlays $ 292.5 $ 292.9 -0.1%
Source: Federal Housing Finance Agency
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FHFA’s fiscal year 2015 extended from October 1, 2014 through September 30, 2015.
FHFA assessments are made to fund the current budget of the Agency and the Office of Inspector General (OIG). For FY 2015, this amount is the sum of FHFA’s budget of $199.7
million and FHFA-OIG’s budget of $48 million, less unobligated funds of $6.4 million from the end of the prior year.
REPORT TO CONGRESS • 2015
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