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Board Report: 2014-FMIC-B-009 June 30, 2014

The Board Should Enhance Its Policies and Procedures Related to Conference Activities

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Appendix B: Summary of Board-Sponsored Conferences Identified and Reviewed

Table B-1: Board Conference Population and Sample Size, by Number and Cost,a January 1, 2010, through June 30, 2012

Sponsoring Board divisionb Conference population Conference sample
  Number identified Cost Number reviewed Cost
Consumer & Community Affairs 66 $347,836 10 $237,551
Banking, Supervision & Regulation 414 $500,277 7 $107,154
Research & Statistics 26 $356,525 3 $160,636
Financial Stability Policy & Research 3 $1,708 0 $0
International Finance 11 $81,559 1 $54,981
Management 51 $321,619 5 $138,271
Reserve Bank Operations & Payment Systems 94 $122,103 1 $14,742
Office of Board Members 59 $131,599 2 $45,614
Office of the Secretary 4 $59,201 1 $20,740
     Total 728 $1,922,427 30 $779,689

Source: OIG analysis of information reported by Board divisions.

Note: We could not conduct completeness testing to confirm of the number of conferences and the corresponding costs reported by divisions because the Board does not have a central tracking mechanism for these data.

aDollar amounts are rounded. Return to text

bThe Division of Information Technology, the Legal Division, and the Division of Monetary Affairs reported that they did not conduct any conference-related activities during the scope of our audit. We also did not review our office. Return to text