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NCUA posted line-item budget data and overhead transfer rate (OTR) analysis to its website on Friday and Saturday, a follow-up to NCUA Chairman Debbie Matz's exchange with Rep. Mick Mulvaney, R-S.C., during a House subcommittee hearing last week.

NAFCU welcomes this move as a positive step toward more agency budget transparency.

Matz appeared before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit for her first congressional testimony since 2011.

Mulvaney, who is the chief sponsor of H.R. 2287, which would require budget hearings and publication of draft budgets, raised the issue of OTR analysis and line-item budget data. Mulvaney protested the redactions in the OTR analysis in particular. (The OTR is used to transfer funds from the National Credit Union Share Insurance Fund to the operating fund to cover "insurance-related" activities.)

Matz responded that the line-item budget and an unredacted version of the OTR analysis could be made available on the agency's website. On Friday, NCUA posted line-item budgets for the agency's 2015 operating budget, its Central Liquidity Fund and Temporary Corporate Credit Union Stabilization Fund. On Saturday, the agency followed up by posting OTR analysis as well.

NAFCU continues to push for more NCUA budget transparency, especially as the budget continues to grow. NAFCU supports H.R. 2287 and other measures that would require annual budget hearings, publication of the draft budget for public comment and a top-to-bottom review of the agency's budgeting process by the Government Accountability Office.