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BEA’s Budget: Setting Priorities in the Face of Tight Budgets

BEA’s Budget: Setting Priorities in the Face of Tight Budgets. Brian C. Moyer. BEA Advisory Committee Washington, D.C. May 11, 2012. Current Budget Environment. Department strongly supports BEA’s mission, but budgets are extremely tight and cuts are likely

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BEA’s Budget: Setting Priorities in the Face of Tight Budgets

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  1. BEA’s Budget: Setting Priorities in the Face of Tight Budgets Brian C. Moyer BEA Advisory Committee Washington, D.C. May 11, 2012

  2. Current Budget Environment • Department strongly supports BEA’s mission, but budgets are extremely tight and cuts are likely • BEA needs to continue producing its core statistical products • “Flat” budgets in even a mild inflationary environment erode base funds • BEA’s building lease expires in FY 2013

  3. BEA’s FY 2012 Budget: $92.2 m Industry—$13.2 m (14%) International—$31.7 m (34%) Regional—$16.3 m (18%) National—$31.1 m (34%)

  4. Spending by Category Overhead, other charges (12%) Rent (7%) Data contracts (2%) IT (8%) Training (2%) People (69%)

  5. Within-budget Improvements • Prototype quarterly GDP by industry statistics • Work with BLS on an industry-level production account • New quarterly tables that reconcile BEA’s data with the Fed’s flow of funds data • New quarterly IIP estimates • Work on new quarterly GDP by state statistics

  6. Improvements in Efficiency • Modernization of IT systems • Allows BEA to complete more work with fewer staff • Improves timeliness of the data • Reduction in administrative costs • Savings of $600 k in FY 2012 • Expansion of electronic filing for BEA surveys • Buyouts/early outs

  7. Performance/Zero-based Budgeting • Budgets begin at “zero” and each program/product is analyzed by its resource costs and expected results • Two-step process • Identify, collect, and analyze cost information on each program/product • Set priorities among programs/products in consultation with customers and stakeholders

  8. Past Cuts to BEA’s Programs • Discontinued short and long-term macro forecasting units • Transferred Leading Indicators to the Conference Board • Discontinued regional projections • Discontinued benchmark capital flow tables • Discontinued FDI surveys, raised reporting thresholds, and reduced the level of detail collected on BEA’s surveys of MNCs • Reduced the level of industry detail provided for county personal income

  9. “Menu” of Potential Future Cuts • Eliminate advance GDP by industry statistics ($1.1 m) • Eliminate county and metro area personal income statistics ($2 m) • Eliminate monthly estimates of personal income and outlays ($2.3 m) • Dramatically scale back projects to modernize the accounts such as better measures of health care inflation ($3 m) • Reduce detail, periodicity, and analysis of FDI/MNC data ($5 m)

  10. “Menu” of Potential Future Cuts • Discontinue “underlying detail” tables for GDP and the national accounts ($400 k) • Discontinue RIMS program ($1.4 m) • Discontinue travel and tourism statistics (net $150 k) • Discontinue paper publications ($180 k) • Scale back the IT modernization and systems reengineering ($3 m)

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