On February 2, 2015, FERC submitted its Fiscal Year ("FY") 2016 Budget Request for $319,800,000. This amount is approximately five percent above the FY 2015 Budget Request. In requesting its budget, FERC sets out its three primary goals: (1) supporting just and reasonable rates, terms, and conditions ("Goal 1"); (2) promoting safe, reliable, secure and efficient infrastructure ("Goal 2"); and (3) mission support through organizational excellence ("Goal 3").
FERC ties its goals to specific objectives that it intends to achieve with its budget. The objectives under Goal 1 are: (1) to establish FERC rules and policy that will result in just and reasonable rates, terms and conditions; and (2) to increase compliance with FERC rules and to detect and deter market manipulation. The objectives set for Goal 2 are: (1) to foster economic and environmental benefits for the nation through approval of natural gas and hydropower projects; and (2) to minimize risks to the public associated with FERC-jurisdictional energy infrastructure. Objectives for Goal 3 are: (1) to achieve organizational excellence by using resources effectively; (2) to adequately equip FERC employees for success; and (3) to facilitate public trust and understanding of FERC activities by promoting transparency, open communication, and a high standard of ethics.
In addition to the goals outlined above, and separate from its regular operating expenses, FERC's budget includes additional funding for a multi-year building modernization project that is anticipated to take four years to complete. Pursuant to the General Services Administration and the Office of Management and Budget space use policy, FERC must reduce its overall space utilization by 12 percent, which will require consolidation within the FERC Headquarters building, relocating employees and updating certain facilities.
FERC recovers the cost of its operations through annual charges and filing fees under the Federal Power Act and the Omnibus Budget Reconciliation Act of 1986. Those revenues are then deposited into the United States Treasury, which results in no net appropriation.
A copy of the full budget request is available here.
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