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GGD-98-191R 1 (1998-09-29)

handle is hein.gao/gaobacmqt0001 and id is 1 raw text is: United States General Accounting Office Washington, D.C. 20548( General Government Division B-280528 September 29, 1998 The Honorable Ellen Seidman Director Office of Thrift Supervision Subject: The Results Act: Observations on OTS' Annual Performance Plan Dear Ms. Seidman: This letter provides our observations on the Office of Thrift Supervision's (OTS) annual performance plan for calendar year' 1998 submitted to Congress to meet the requirements of the Government Performance and Results Act of 1993 (the Results Act). We were asked by the House Committee on Banking and Financial Services to review the plan together with annual plans submitted by other financial regulatory agencies. This letter provides our assessment of how well OTS' performance plan meets the requirements of the Results Act, and our observations for improving future performance plans. Annual performance plans can be an invaluable tool for making policy decisions, improving program management, enhancing accountability, and communicating to both internal and external audiences how the long-term strategic direction outlined in strategic plans is translated into the day-to-day activities of managers and staff. Successful implementation of a performance-based management system, as envisioned by the Results Act, represents a significant challenge requiring sustained agency attention. While opportunities exist to improve OTS' initial performance plan, actions to date clearly show a good faith effort to implement the Results Act. In our discussions with your staff, we found OTS to be seriously committed to fulfilling both the requirements of the Act and congressional expectations that the plans inform Congress and the public about agencies' performance goals, including how the agency will accomplish goals and measure the results. The points made in this letter are intended to assist OTS in its continued efforts to implement the Act. As such, the content of this letter focuses greater attention on areas where improvements might be made to enhance your plan and less on areas where OTS has already made significant progress. 'In cases where an agency operates on a different fiscal year than October 1-September 30, the performance plan should correspond to the agency's fiscal year. OTS operates on a calendar year basis. Page 1 GAO/GGD.98-191R OTS'Annual Performance Plan

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