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B-114806 1 (1977-02-18)

handle is hein.gao/gaobadecr0001 and id is 1 raw text is: I 'I,, I-0 0o C0 cECIe31ON d FILE: B-114806 MATTER OF: DIGEST: I * THE CO!VIPTROLLER CENERAL . OF THE UNITED STATME WASHINGTON, D. C. R0549 DATE: .February 18, 1977 Fart Credit Administration - Compensation of Deputy Governors Compensation of Deputy Gevarnors, Farm Credit Administration, is authori)-ed to be fixed at not to exceed the maximum scheduled rate of General Schedule. Such com- pensation, although not limit..d by compensation of Governor an6 not subject to classification provisions, may not exceed rate for level V of Executive Schedule, since effect of 5 U.S.C. 5308 is to limit maximum schaduled rate of General Schedule to level V rate. Hiher amounts shown on General Schedule are merely projections of what rates would be without this limitation. By letter dated October 29, 1976, Daniel L. Monson, the General Counsel of the Farm Credit Administration (FCA), requests our opinion as to whether the compensation payable to the five Deputy Governors of FCA is limited by the compensation of the Gov- ernox. It is the vtctz of FCA that it is not and that the compen- sation of the Deputy Governors may be set at any rate which does not exceed $54,410, the rate published for grade GS-18 of the General Schedule by Executive Order 11941, October 1, 1976, with- out regard to 5 U.S.C. 5308 (1970) which limits pay to the rate of basic pay for level V of the Executive Schedule, currently $39,600. The administration and operAtion of FCA is presently governed primarily by the Farm Credit Act of 1971, Public Law 92-181, ap- proved December 10, 1971, 85 Stat. 583 (12 U.S.C. 2001 et seg. (Supp. V, 1975)). This legislation provides in pertinent part as follows: Sec. 5.7. THE FARM CREDIT ADMINISTRATION.- The Farm Credit Administration shall be an indepen- dent agency in the executive branch of the Govern- ment. * * * (12 U.S.C. 2241) I W

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