II. Financial Highlights
Investment Spending
The FDIC instituted a separate Investment
Budget in 2003. It has a disciplined process for
reviewing proposed new investment projects and
managing the construction and implementation
of approved projects. All of the projects in the
current investment portfolio are major IT system
initiatives. Proposed IT projects are carefully
reviewed to ensure that they are consistent with
the Corporation’s enterprise architecture. The
project approval and monitoring processes also
enable the FDIC to be aware of risks to the
major capital investment projects and facilitate
appropriate, timely intervention to address
these risks throughout the development
process. An investment portfolio performance
review is provided to the FDIC’s Board of
Directors quarterly.
The Corporation undertook significant capital
investments during the 2003-2010 period, the
largest of which was the expansion of its Virginia
Square office facility. Other projects involved
the development and implementation of major
IT systems. Investment spending totaled $266.4
million during this period, peaking at $108.2
million in 2004. Spending for investment projects
in 2010 totaled approximately $0.4 million.
In 2011, investment spending is estimated at
$7 million.
INVESTMENT SPENDING 2003 – 2010 |
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